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Thursday, November 21, 2024

Wyoming's combined tax revenues down 2.5% in Q1 compared to same quarter of the previous year

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Director Brenda Henson - Wyoming Department of Revenue | Wyoming Department of Revenue

Director Brenda Henson - Wyoming Department of Revenue | Wyoming Department of Revenue

Wyoming collected $689 million in license, miscellaneous other, property and sales and gross receipts taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 2.5% decrease from the same quarter of the previous year, when combined tax revenues were $707 million.

The majority of the state's tax revenue was collected through sales and gross receipts taxes ($357 million) and miscellaneous other taxes ($185 million).

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.

Q1 Wyoming Tax Collections

Type of TaxAmount (millions)
License Taxes$45
Other Taxes$185
Property Taxes$97
Sales and Gross Receipts Taxes$357

Source: U.S. Census Bureau

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