Montana's combined tax revenues down 43.6% from Q2 to Q3 2023

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

By Big Sky Times

Oct 2, 2023

Combined tax revenues in Montana decreased 43.6% in the third quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Montana collected $881 million in taxes during the third quarter of 2023, compared to $1.6 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($550 million) and alcoholic beverages sales tax ($164 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.

Q3 Montana Tax Collections