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Wednesday, December 11, 2024

Kentucky collects $140 million in license tax revenue in Q2

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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 $140 million in license taxes during the second quarter of 2024, 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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Kentucky collected $4.7 billion in combined tax revenues in Q2.

Q2 Kentucky Tax Collections

Type of TaxAmount (millions)
Income Taxes$2,230
License Taxes$140
Other Taxes$49
Property Taxes$81
Sales and Gross Receipts Taxes$2,202

Source: U.S. Census Bureau

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