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Monday, December 23, 2024

Kentucky collected 7.2% more in pari-mutuels sales tax in 2020

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Of the $13.4 billion in taxes collected by Kentucky in 2020, $16.1 million came from pari-mutuels sales tax, a 7.2 percent increase over the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Kentucky collected $15 million in pari-mutuels sales tax in 2019.

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 subcategory and how much was collected.

Kentucky Tax Collections 2020 vs. 2019
Type of Tax2020 amount2019 amount
Occupation and business license, NEC$134,316,000$129,033,000
Individual income taxes$4,831,399,000$4,629,057,000
Tobacco products sales tax$382,071,000$369,501,000
Motor vehicle license$205,245,000$223,126,000
Documentarty and stock transfer taxes$3,491,000$3,351,000
Amusements sales tax$145,000$214,000
Corporations net income taxes$639,200,000$762,700,000
Alcoholic beverages sales tax$159,588,000$147,700,000
Motor fuels sales tax$690,280,000$720,218,000
Public utilities sales tax$70,648,000$56,395,000
Amusements license$275,000$316,000
General sales and gross receipts taxes$4,191,324,000$3,984,753,000
Hunting and fishing license$30,778,000$31,142,000
Other license taxes$4,907,000$4,907,000
Alcoholic beverages license$3,721,000$10,664,000
Selective sales and gross receipts taxes$2,347,873,000$2,326,479,000
Insurance premiums sales tax$178,083,000$173,129,000
Motor vehicle operators license$14,038,000$17,142,000
Severance taxes$109,176,000$149,910,000
Death and gift taxes$48,250,000$42,903,000
Other selective sales and gross receipts taxes$850,980,000$844,319,000
Corporations in general license$151,794,000$117,710,000
Pari-mutuels sales tax$16,078,000$15,003,000
Source: U.S. Census Bureau

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