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Monday, December 23, 2024

Montana's combined tax revenues up 15.7% from Q3 to Q4 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 increased 15.7% in the fourth 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 $1.1 billion in taxes during the fourth quarter of 2022, compared to $976 million in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($596 million) and alcoholic beverages sales tax ($187 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.

Q4 Montana Tax Collections
Type of TaxAmount (millions)
Income Taxes$596
Sales and Gross Receipts Taxes$187
Property Taxes$155
License Taxes$105
Other Taxes$70
Source: U.S. Census Bureau

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