Quantcast

Beaver State News

Thursday, November 21, 2024

Oregon's combined tax revenues down 61.4% in Q1 compared to same quarter of the previous year

Webp a2dm25918sk6tznygkcd37s1n22v

Betsy Imholt​​​ Director of Oregon Department of Revenue | Oregon Department of Revenue

Betsy Imholt​​​ Director of Oregon Department of Revenue | Oregon Department of Revenue

Oregon collected $2 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 61.4% decrease from the same quarter of the previous year, when combined tax revenues were $5.1 billion.

The majority of the state's tax revenue was collected through income taxes ($1 billion) and sales and gross receipts taxes ($599 million).

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.

Q1 Oregon Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,030
License Taxes$243
Other Taxes$80
Property Taxes$6
Sales and Gross Receipts Taxes$599

Source: U.S. Census Bureau

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS