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Saturday, November 23, 2024

South Dakota’s combined tax revenues down 0.8% in Q4 compared to same quarter of the previous year

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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

South Dakota collected $649 million in income, license, miscellaneous other and sales and gross receipts taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 0.8% decrease from the same quarter the previous year when combined tax revenues were $654 million.

The majority of the state’s tax revenue was collected through sales and gross receipts taxes ($571 million) and license taxes ($71 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.

Q4 South Dakota Tax Collections

Type of TaxAmount (millions)
Income Taxes$4
License Taxes$71
Other Taxes$2
Sales and Gross Receipts Taxes$571

Source: U.S. Census Bureau

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