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Monday, October 7, 2024

Missouri’s license tax revenue up 4.8 percent in Q1 since the previous quarter

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Missouri collected $173 million in license taxes during the first quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 4.8 percent increase over the previous quarter when license tax revenue was $165 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, Missouri collected $3.4 billion in combined tax revenues during the first quarter of 2021.

Q1 Missouri Tax Collections

Type of TaxAmount (in millions of dollars)
License Taxes$173
Income Taxes$1,726
Other Taxes$1
Property Taxes$27
Sales and Gross Receipts Taxes$1,438

Source: U.S. Census Bureau

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