Combined tax revenues in South Carolina decreased 24.1% in the third quarter of 2024 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
Overall, South Carolina collected $4.4 billion in taxes during the third quarter of 2024, compared to $5.8 billion in the previous quarter.
The majority of the state’s tax revenue was collected through income taxes ($2.3 billion) and general sales and gross receipts taxes ($1.9 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.
| Type of Tax | Amount (millions) |
|---|---|
| Income Taxes | $2,256 |
| Sales and Gross Receipts Taxes | $1,890 |
| License Taxes | $228 |
| Other Taxes | $36 |
| Property Taxes | $14 |
Source: U.S. Census Bureau
