Quantcast

Palmetto State News

Monday, November 4, 2024

South Carolina collects $255 million in license tax revenue in Q4

Webp 1qhik4scln50km2bk9lgy6q55y65

W. Hartley Powell, Director of Department of Revenue at South Carolina Department of Revenue | South Carolina Department of Revenue

W. Hartley Powell, Director of Department of Revenue at South Carolina Department of Revenue | South Carolina Department of Revenue

South Carolina collected $255 million in license taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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, South Carolina collected $4.2 billion in combined tax revenues in Q4.

Q4 South Carolina Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,812
License Taxes$255
Other Taxes$65
Property Taxes$25
Sales and Gross Receipts Taxes$2,037

Source: U.S. Census Bureau

MORE NEWS