Quantcast

Grand Canyon Times

Sunday, December 22, 2024

Arizona's combined tax revenues up 7.7% in Q1 compared to same quarter of the previous year

Webp roqtecu2o36jali5ex7k3hvtg1cf

Rob Woods Director of Department of Revenue at state of Arizona Dpt. of Revenue | State of Arizona Department of Revenue

Rob Woods Director of Department of Revenue at state of Arizona Dpt. of Revenue | State of Arizona Department of Revenue

Arizona collected $5.2 billion in income, license, miscellaneous other, property 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 7.7% increase over the same quarter of the previous year, when combined tax revenues were $4.8 billion.

The majority of the state's tax revenue was collected through sales and gross receipts taxes ($3.5 billion) and income taxes ($1.2 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 Arizona Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,164
License Taxes$157
Other Taxes$18
Property Taxes$292
Sales and Gross Receipts Taxes$3,521

Source: U.S. Census Bureau

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS