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Tuesday, December 24, 2024

Kentucky’s license tax revenue down 40.9 percent in Q2 since the previous quarter

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Kentucky collected $130 million in license taxes during the second quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 40.9 percent decrease from the previous quarter when license tax revenue was $220 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, Kentucky collected $4.2 billion in combined tax revenues during the second quarter of 2021.

Q2 Kentucky Tax Collections

Type of TaxAmount (in millions of dollars)
License Taxes$130
Income Taxes$2,029
Other Taxes$44
Property Taxes$79
Sales and Gross Receipts Taxes$1,895

Source: U.S. Census Bureau

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