Quantcast

Rushmore State News

Tuesday, May 14, 2024

South Dakota's combined tax revenues down 4% from Q4 to Q1 2023

Webp p9rpfbbq6wslnc7z2x28aga83h2y

Michael Houdyshell South Dakota Secretary Department of Revenue | South Dakota Department of Revenue

Michael Houdyshell South Dakota Secretary Department of Revenue | South Dakota Department of Revenue

Combined tax revenues in South Dakota decreased 4% in the first quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, South Dakota collected $626 million in taxes during the first quarter of 2023, compared to $652 million in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($526 million) and corporations in general license ($87 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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1 South Dakota Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$526
License Taxes$87
Income Taxes$12
Other Taxes$1
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