Quantcast

Bluegrass Times

Wednesday, November 6, 2024

Residents and visitors to Kentucky paid $16.5 billion in taxes in 2022

Adobestock 324498179

Adobe Stock

Adobe Stock

Kentucky collected $16.5 billion in taxes in 2022, a 13.2 percent increase from the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Most tax revenue came from sales and gross receipts taxes ($7.7 billion) and income taxes ($7.3 billion).

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 the bureau and how much was collected.

2022 Kentucky Tax Collections
Type of TaxAmount
Property taxes$725,415,000
Sales and gross receipts taxes$7,718,476,000
License taxes$551,706,000
Income taxes$7,349,096,000
Miscellaneous taxes$201,851,000
General sales and gross receipts taxes$5,162,018,000
Selective sales and gross receipts taxes$2,556,458,000
Alcoholic beverages sales tax$186,487,000
Amusements sales tax$136,000
Insurance premiums sales tax$179,015,000
Motor fuels sales tax$728,190,000
Pari-mutuels sales tax$47,733,000
Public utilities sales tax$77,310,000
Tobacco products sales tax$374,873,000
Other selective sales and gross receipts taxes$962,714,000
Alcoholic beverages license$8,027,000
Amusements license$300,000
Corporations in general license$121,266,000
Hunting and fishing license$31,953,000
Motor vehicle license$224,860,000
Motor vehicle operators license$28,500,000
Public utilities license$0
Occupation and business license, NEC$134,556,000
Other license taxes$2,244,000
Individual income taxes$6,180,726,000
Corporations net income taxes$1,168,370,000
Death and gift taxes$82,953,000
Documentarty and stock transfer taxes$9,879,000
Severance taxes$109,019,000
Taxes, NEC$0

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS