Quantcast

Hoosier State Today

Monday, April 29, 2024

Q3 2023 Tax Revenue: Indiana collects $3.7 billion in sales and gross receipt tax

Adobestock 263034311

Adobe Stock

Adobe Stock

Indiana collected $3.7 billion in sales and gross receipt taxes during the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Overall, Indiana's combined tax revenues reached $7.1 billion during the year, as of third quarter of 2023.

Sales and gross receipt taxes include taxes on licenses, alcohol, amusements, insurance, fuel, parimutuels, public utilities and tobacco products.

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.

Q3 2023 Indiana Tax Collections

Type of TaxAmount (millions)
License Taxes$195
Sales and Gross Receipts Taxes$3,708
Income Taxes$3,099
Other Taxes$36

MORE NEWS