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Monday, December 23, 2024

Utah's combined tax revenues up 66.2% from Q1 to Q2 2022

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Utah State Tax Commissioner Scott W. Smith | Utah State Tax Commission

Utah State Tax Commissioner Scott W. Smith | Utah State Tax Commission

Combined tax revenues in Utah increased 66.2% 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, Utah collected $5.4 billion in taxes during the second quarter of 2022, compared to $3.3 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($3.9 billion) and general sales and gross receipts taxes ($1.4 billion).

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 Utah Tax Collections
Type of TaxAmount (millions)
Income Taxes$3,852
Sales and Gross Receipts Taxes$1,421
License Taxes$97
Other Taxes$32
Source: U.S. Census Bureau

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