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Wednesday, November 6, 2024

Q1 2023: Missouri's combined tax revenues down 0.2% since Q4 2022

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Wayne Wallingford Director Department of Revenue at Missouri Department of Revenue | Missouri Department of Revenue

Wayne Wallingford Director Department of Revenue at Missouri Department of Revenue | Missouri Department of Revenue

Missouri collected $4.1 billion in total tax revenues during the first quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through income taxes ($2.1 billion) and general sales and gross receipts taxes ($1.7 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 2023 Missouri Tax Collections
Type of TaxAmount (millions)
Income Taxes$2,135
Sales and Gross Receipts Taxes$1,724
License Taxes$197
Property Taxes$31
Other Taxes$11

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