Quantcast

Rushmore State News

Sunday, November 24, 2024

Residents and visitors to South Dakota paid $2.5 billion in taxes in 2022

Adobestock 298161024

Adobe Stock

Adobe Stock

South Dakota collected $2.5 billion in taxes in 2022, a 15.2 percent increase from the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Most tax revenue came from sales and gross receipts taxes ($2.1 billion) and license taxes ($337.5 million).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau sets the tax classifications among the survey categories and cautions they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

2022 South Dakota Tax Collections
Type of TaxAmount
Property taxes$0
Sales and gross receipts taxes$2,067,055,000
License taxes$337,471,000
Income taxes$61,818,000
Miscellaneous taxes$9,050,000
General sales and gross receipts taxes$1,524,337,000
Selective sales and gross receipts taxes$542,718,000
Alcoholic beverages sales tax$21,322,000
Amusements sales tax$12,323,000
Insurance premiums sales tax$97,571,000
Motor fuels sales tax$201,021,000
Pari-mutuels sales tax$113,000
Public utilities sales tax$4,024,000
Tobacco products sales tax$54,385,000
Other selective sales and gross receipts taxes$151,959,000
Alcoholic beverages license$1,537,000
Amusements license$5,473,000
Corporations in general license$8,059,000
Hunting and fishing license$37,940,000
Motor vehicle license$93,882,000
Motor vehicle operators license$6,145,000
Public utilities license$0
Occupation and business license, NEC$151,748,000
Other license taxes$32,687,000
Individual income taxes$0
Corporations net income taxes$61,818,000
Death and gift taxes$0
Documentarty and stock transfer taxes$195,000
Severance taxes$8,035,000
Taxes, NEC$820,000

MORE NEWS