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Wednesday, November 27, 2024

Wyoming's license tax revenue down 2.2% in Q1 compared to previous quarter

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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 $45 million in license 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 2.2% decrease from the previous quarter, when license tax revenue was $46 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.

Overall, Wyoming collected $689 million in combined tax revenues in Q1.

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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