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Monday, May 20, 2024

South Dakota's combined tax revenues up 4.3% from Q1 to Q2 2023

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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 increased 4.3% in the second 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 $653 million in taxes during the second quarter of 2023, compared to $626 million in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($517 million) and corporations in general license ($107 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.

Q2 South Dakota Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$517
License Taxes$107
Income Taxes$28
Other Taxes$1
Source: U.S. Census Bureau

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