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Saturday, November 23, 2024

South Carolina collects $1.8 billion million in sales and gross receipt tax revenue in Q4

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South Carolina collected $1.8 billion in sales and gross receipt taxes during the fourth quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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.

Overall, South Carolina collected $4.2 billion in combined tax revenues in the latest quarter.

4th Quarter South Carolina Tax Collections

Type of TaxAmount (in millions)
Property Taxes$5
Sales and Gross Receipts Taxes$1,760
Income Taxes$2,127
License Taxes$177
Other Taxes$142

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