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Wednesday, December 4, 2024

Utah's license tax revenue up 25.9% in Q1 compared to previous quarter

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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 $107 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 25.9% increase over the previous quarter, when license tax revenue was $85 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, Utah collected $3.4 billion in combined tax revenues in Q1.

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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