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Wednesday, December 4, 2024

Tax Revenue Analysis: South Dakota collects $571 million in sales and gross receipt tax during Q4 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

South Dakota collected $571 million in sales and gross receipt taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Overall, South Dakota's combined tax revenues reached $649 million during the year, as of fourth quarter of 2023.

Sales and gross receipt taxes include taxes on licenses, alcohol, amusements, insurance, fuel, parimutuels, public utilities and tobacco products.

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.

Q4 2023 South Dakota Tax Collections

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

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