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Thursday, November 28, 2024

Q3 2021: South Carolina's combined tax revenues up 9.2% since Q2 2021

South Carolina collected $4 billion in total tax revenues during the third quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through income taxes ($2 billion) and general sales and gross receipts taxes ($1.8 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.

Q3 2021 South Carolina Tax Collections
Type of TaxAmount (millions)
Income Taxes$1,997
Sales and Gross Receipts Taxes$1,750
Other Taxes$110
License Taxes$82
Property Taxes$17

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