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Sunday, December 22, 2024

Utah's combined tax revenues down 29.6% from Q4 to Q1 2023

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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 decreased 29.6% in the first 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, Utah collected $2.8 billion in taxes during the first quarter of 2023, compared to $4 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($1.4 billion) and income taxes ($1.3 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.

Q1 Utah Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$1,378
Income Taxes$1,312
License Taxes$84
Other Taxes$39
Source: U.S. Census Bureau

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