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Thursday, November 7, 2024

Montana's combined tax revenues down 0.4% from Q4 to Q1 2022

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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

Combined tax revenues in Montana decreased 0.4% in the first quarter of 2022 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Montana collected $1 billion in taxes during the first quarter of 2022, compared to $1 billion in the previous quarter.

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 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
Source: U.S. Census Bureau

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