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Sunday, November 24, 2024

Q1 2022: Montana's combined tax revenues down 0.4% since Q4 2021

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Brendan Beatty Director of Montana Department of Revenue | Montana Department of Revenue

Brendan Beatty Director of Montana Department of Revenue | Montana Department of Revenue

Montana collected $1 billion in total tax revenues during the first quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through income taxes ($570 million) and corporations in general license ($160 million).

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1 2022 Montana Tax Collections
Type of TaxAmount (millions)
Income Taxes$570
License Taxes$160
Sales and Gross Receipts Taxes$147
Property Taxes$67
Other Taxes$56

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