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Wednesday, December 4, 2024

South Dakota's license tax revenue up 25% in Q2 compared to previous quarter

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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 $110 million in license taxes during the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 25% increase over the previous quarter, when license tax revenue was $88 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.

Overall, South Dakota collected $665 million in combined tax revenues in Q2.

Q2 South Dakota Tax Collections

Type of TaxAmount (millions)
Income Taxes$39
License Taxes$110
Other Taxes$2
Sales and Gross Receipts Taxes$514

Source: U.S. Census Bureau

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