Quantcast

Hoosier State Today

Saturday, November 23, 2024

Indiana's income tax revenue up 16.6% in year since Q1 2021

Adobestock 305152488

Adobe Stock

Adobe Stock

Indiana collected $2.6 billion in individual income taxes during the first quarter of 2022, a 16.6% increase over the same period the previous year, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

In the first quarter of 2021, $2.3 billion was collected.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

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 state governments.

Overall, Indiana collected $6.6 billion in combined tax revenues in the first quarter of 2022.

Q1 Indiana Tax Collections

Type of TaxAmount (in millions of dollars)
Property Taxes$0
Sales and Gross Receipts Taxes$3,564
License Taxes$209
Income Taxes$2,780
Other Taxes$40

Source: U.S. Census Bureau

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