Quantcast

Palmetto State News

Monday, December 23, 2024

South Carolina collects $1.4 billion in sales and gross receipt tax revenue in Q1 2021

Adobestock 293176705

Adobe Stock

Adobe Stock

South Carolina collected $1.4 billion in sales and gross receipt taxes during the first quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Overall, South Carolina collected $2.6 billion in combined tax revenues in the latest quarter.

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.

1st Quarter South Carolina Tax Collections

Type of TaxAmount (in millions)
License Taxes$86
Sales and Gross Receipts Taxes$1,413
Property Taxes$5
Income Taxes$990
Other Taxes$112

MORE NEWS