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Thursday, November 28, 2024

Montana's combined tax revenues up 74.3% from Q1 to Q2 2022

Combined tax revenues in Montana increased 74.3% in the second 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 $1.8 billion in taxes during the second quarter of 2022, compared to $1 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($1.1 billion) and alcoholic beverages sales tax ($275 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.

Q2 Montana Tax Collections
Type of TaxAmount (millions)
Income Taxes$1,108
Sales and Gross Receipts Taxes$275
License Taxes$172
Property Taxes$129
Other Taxes$72
Source: U.S. Census Bureau

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