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Saturday, December 21, 2024

Alabama's license tax revenue up 7.2% in Q1 compared to previous quarter

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Vernon Barrett, Commissioner of Revenue | Alabama Department of Revenue

Vernon Barrett, Commissioner of Revenue | Alabama Department of Revenue

Alabama collected $164 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 7.2% increase over the previous quarter, when license tax revenue was $153 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, Alabama collected $3.6 billion in combined tax revenues in Q1.

Q1 Alabama Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,594
License Taxes$164
Other Taxes$23
Property Taxes$290
Sales and Gross Receipts Taxes$1,552

Source: U.S. Census Bureau

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