Quantcast

Magnolia State News

Tuesday, November 26, 2024

Mississippi's income tax revenue up 13% in year since Q3 2021

Adobestock 318102163

Adobe Stock

Adobe Stock

Mississippi collected $616 million in individual income taxes during the third quarter of 2022, a 13% increase over the same period the previous year, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

In the third quarter of 2021, $545 million was collected.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

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 state governments.

Overall, Mississippi collected $2.5 billion in combined tax revenues in the third quarter of 2022.

Q3 Mississippi Tax Collections

Type of TaxAmount (in millions of dollars)
Property Taxes$5
Sales and Gross Receipts Taxes$1,590
License Taxes$110
Income Taxes$796
Other Taxes$17

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