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Sunday, December 22, 2024

Kentucky collected 51.1% more in pari-mutuels sales tax in 2022

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Of the $16.5 billion in taxes collected by Kentucky in 2022, $47.7 million came from pari-mutuels sales tax, a 51.1 percent increase over the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Kentucky collected $31.6 million in pari-mutuels sales tax in 2021.

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 2022 vs. 2021
Type of Tax2022 amount2021 amount
Death and gift taxes$82,953,000$61,625,000
Public utilities sales tax$77,310,000$81,185,000
Occupation and business license, NEC$134,556,000$136,386,000
Individual income taxes$6,180,726,000$5,212,818,000
Hunting and fishing license$31,953,000$31,326,000
Severance taxes$109,019,000$84,446,000
Alcoholic beverages license$8,027,000$225,000
Insurance premiums sales tax$179,015,000$187,041,000
Amusements license$300,000$243,000
General sales and gross receipts taxes$5,162,018,000$4,558,439,000
Alcoholic beverages sales tax$186,487,000$174,267,000
Pari-mutuels sales tax$47,733,000$31,596,000
Other selective sales and gross receipts taxes$962,714,000$935,079,000
Corporations in general license$121,266,000$116,242,000
Amusements sales tax$136,000$22,000
Corporations net income taxes$1,168,370,000$926,075,000
Motor vehicle operators license$28,500,000$23,037,000
Selective sales and gross receipts taxes$2,556,458,000$2,529,699,000
Tobacco products sales tax$374,873,000$420,634,000
Documentarty and stock transfer taxes$9,879,000$3,592,000
Motor vehicle license$224,860,000$223,193,000
Motor fuels sales tax$728,190,000$699,875,000
Other license taxes$2,244,000$2,395,000
Source: U.S. Census Bureau

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