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Wednesday, November 27, 2024

Oregon's license tax revenue down 32.1% in Q1 compared to previous quarter

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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 $243 million in license 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 32.1% decrease from the previous quarter, when license tax revenue was $358 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.

Overall, Oregon collected $2 billion in combined tax revenues in Q1.

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

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