In 2023, Colorado collected $2.3 billion in corporation net income taxes, placing it 16th among all U.S. states, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).
This marked a 55.3% increase from the $1.5 billion generated in the previous year.
For comparison, California topped the national rankings in 2023, collecting $29.9 billion in corporation net income taxes.
The State Government Tax Collections (STC) survey tracks five major tax categories and up to 25 subcategories, gathering data from all 50 state governments and their dependent agencies.
The Census Bureau notes that it defines tax classifications consistently across states, which may differ from how individual states categorize them.
All figures in this article reflect taxes collected by state governments only, based on the STC. They do not include local taxes, such as most property taxes, which make up a significant portion of overall taxes paid by residents.
According to the U.S. Census Bureau, state and local governments collect a wide range of taxes to fund public programs and services. These revenues are typically allocated to areas such as transportation, education, and public safety. In 2024, state tax collections alone amounted to nearly $1.5 trillion nationwide, representing a significant part of overall government operations.
| Rank | State | Amount |
|---|---|---|
| 1 | California | $29,936,654,000 |
| 2 | New York | $24,316,578,000 |
| 3 | Illinois | $13,397,965,000 |
| 4 | New Jersey | $8,696,043,000 |
| 5 | Massachusetts | $6,726,019,000 |
| 6 | Pennsylvania | $5,708,628,000 |
| 7 | Florida | $5,522,370,000 |
| 8 | Minnesota | $5,388,169,000 |
| 9 | Maryland | $4,377,258,000 |
| 10 | Virginia | $4,369,396,000 |
| 11 | Georgia | $3,807,573,000 |
| 12 | Connecticut | $3,293,551,000 |
| 13 | Michigan | $3,185,992,000 |
| 14 | Tennessee | $3,156,401,000 |
| 15 | Wisconsin | $2,667,937,000 |
| 16 | Colorado | $2,342,073,000 |
| 17 | Alabama | $2,158,063,000 |
| 18 | Arizona | $1,806,337,000 |
| 19 | North Carolina | $1,640,070,000 |
| 20 | Oregon | $1,618,518,000 |
| 21 | Kansas | $1,561,519,000 |
| 22 | Utah | $1,443,235,000 |
| 23 | South Carolina | $1,356,927,000 |
| 24 | New Hampshire | $1,271,550,000 |
| 25 | Indiana | $1,230,591,000 |
| 26 | Louisiana | $1,223,914,000 |
| 27 | Kentucky | $1,210,388,000 |
| 28 | Arkansas | $1,055,274,000 |
| 29 | Idaho | $1,034,310,000 |
| 30 | Missouri | $911,344,000 |
| 31 | Iowa | $838,062,000 |
| 32 | Mississippi | $818,031,000 |
| 33 | Oklahoma | $774,802,000 |
| 34 | Nebraska | $692,965,000 |
| 35 | Delaware | $571,185,000 |
| 36 | Maine | $451,211,000 |
| 37 | New Mexico | $444,335,000 |
| 38 | Alaska | $444,240,000 |
| 39 | West Virginia | $419,965,000 |
| 40 | Hawaii | $347,800,000 |
| 41 | North Dakota | $324,144,000 |
| 42 | Montana | $307,950,000 |
| 43 | Vermont | $299,607,000 |
| 44 | Rhode Island | $262,600,000 |
| 45 | South Dakota | $48,070,000 |
| 46 | Ohio | $251,000 |
Information in this story was obtained from the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC). The source data can be found here.
