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Wednesday, December 4, 2024

Mississippi's license tax revenue up 14% in Q2 compared to same quarter of the previous year

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Chris Graham, Commissioner of Revenue | Mississippi Department of Revenue

Chris Graham, Commissioner of Revenue | Mississippi Department of Revenue

Mississippi collected $106 million in license taxes during the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 14% increase over the same quarter the previous year, when license tax revenue was $93 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, Mississippi collected $2.9 billion in combined tax revenues in Q2.

Q2 Mississippi Tax Collections

Type of TaxAmount (millions)
Income Taxes$958
License Taxes$106
Other Taxes$12
Property Taxes$7
Sales and Gross Receipts Taxes$1,854

Source: U.S. Census Bureau

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