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Thursday, November 14, 2024

Utah's combined tax revenues up 20.2% in Q1 compared to same quarter of the previous year

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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

Utah collected $3.4 billion in income, license, miscellaneous other and sales and gross receipts 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 20.2% increase over the same quarter of the previous year, when combined tax revenues were $2.8 billion.

The majority of the state's tax revenue was collected through income taxes ($1.7 billion) and sales and gross receipts taxes ($1.5 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 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.

Q1 Utah Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,719
License Taxes$107
Other Taxes$20
Sales and Gross Receipts Taxes$1,535

Source: U.S. Census Bureau

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