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Wednesday, November 27, 2024

Montana's license tax revenue up 178.8% in Q1 compared to same quarter of the previous year

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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 $184 million in license taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 178.8% increase over the same quarter the previous year, when license tax revenue was $66 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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Montana collected $1.1 billion in combined tax revenues in Q1.

Q1 Montana Tax Collections

Type of TaxAmount (millions)
Income Taxes$552
License Taxes$184
Other Taxes$58
Property Taxes$79
Sales and Gross Receipts Taxes$231

Source: U.S. Census Bureau

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