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Wednesday, November 6, 2024

Kentucky's combined tax revenues up 9.9% from Q3 to Q4 2021

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Thomas B. Miller Commissioner of Revenue at Kentucky Department of Revenue | Kentucky Department of Revenue

Thomas B. Miller Commissioner of Revenue at Kentucky Department of Revenue | Kentucky Department of Revenue

Combined tax revenues in Kentucky increased 9.9% in the fourth quarter of 2021 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Kentucky collected $4 billion in taxes during the fourth quarter of 2021, compared to $3.6 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($1.8 billion) and income taxes ($1.6 billion).

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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q4 Kentucky Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$1,830
Income Taxes$1,567
Property Taxes$416
License Taxes$92
Other Taxes$58
Source: U.S. Census Bureau

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