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Tuesday, November 5, 2024

Kentucky collected 96.5% more in pari-mutuels sales tax in 2021

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Of the $14.6 billion in taxes collected by Kentucky in 2021, $31.6 million came from pari-mutuels sales tax, a 96.5 percent increase over the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Kentucky collected $16.1 million in pari-mutuels sales tax in 2020.

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 2021 vs. 2020
Type of Tax2021 amount2020 amount
Insurance premiums sales tax$187,041,000$178,083,000
Motor vehicle license$223,193,000$205,245,000
Tobacco products sales tax$420,634,000$382,071,000
Other license taxes$2,395,000$4,907,000
Motor vehicle operators license$23,037,000$14,038,000
General sales and gross receipts taxes$4,558,439,000$4,191,324,000
Amusements license$243,000$275,000
Public utilities sales tax$81,185,000$70,648,000
Death and gift taxes$61,625,000$48,250,000
Hunting and fishing license$31,326,000$30,778,000
Severance taxes$84,446,000$109,176,000
Alcoholic beverages sales tax$174,267,000$159,588,000
Alcoholic beverages license$225,000$3,721,000
Amusements sales tax$22,000$145,000
Occupation and business license, NEC$136,386,000$134,316,000
Individual income taxes$5,212,818,000$4,831,399,000
Corporations in general license$116,242,000$151,794,000
Motor fuels sales tax$699,875,000$690,280,000
Selective sales and gross receipts taxes$2,529,699,000$2,347,873,000
Other selective sales and gross receipts taxes$935,079,000$850,980,000
Documentarty and stock transfer taxes$3,592,000$3,491,000
Corporations net income taxes$926,075,000$639,200,000
Pari-mutuels sales tax$31,596,000$16,078,000
Source: U.S. Census Bureau

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