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Saturday, December 28, 2024

Indiana's combined tax revenues down 4.4% from Q3 to Q4 2021

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Bob Grennes Commissioner of Revenue at Indiana Department of Revenue | Indiana Department of Revenue

Bob Grennes Commissioner of Revenue at Indiana Department of Revenue | Indiana Department of Revenue

Combined tax revenues in Indiana decreased 4.4% 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, Indiana collected $6.4 billion in taxes during the fourth quarter of 2021, compared to $6.7 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($3.5 billion) and income taxes ($2.6 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 Indiana Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$3,527
Income Taxes$2,565
License Taxes$186
Other Taxes$43
Source: U.S. Census Bureau

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