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Tuesday, May 7, 2024

Kentucky's miscellaneous tax revenues down 19.3% since Q4 2023

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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

Kentucky collected $46 million in miscellaneous tax revenue during the fourth quarter of 2023, a 19.3% decrease from the same period the previous year when $57 million was reported, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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 2023 Kentucky Tax Collections

Type of TaxAmount (millions)
Property Taxes$451
Sales and Gross Receipts Taxes$2,067
Income Taxes$1,578
License Taxes$101
Miscellaneous Taxes$46

Source: U.S. Census Bureau

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