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Tuesday, November 5, 2024

Colorado collected 21.9% more in pari-mutuels sales tax in 2022

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Of the $21.7 billion in taxes collected by Colorado in 2022, $373,000 came from pari-mutuels sales tax, a 21.9 percent increase over the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Colorado collected $306,000 in pari-mutuels sales tax in 2021.

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau sets the tax classifications among the survey categories and cautions they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by subcategory and how much was collected.

Colorado Tax Collections 2022 vs. 2021
Type of Tax2022 amount2021 amount
Occupation and business license, NEC$67,582,000$53,943,000
Hunting and fishing license$119,501,000$115,697,000
Individual income taxes$11,685,999,000$10,246,531,000
Amusements license$978,000$960,000
Public utilities license$16,545,000$15,084,000
Alcoholic beverages license$6,263,000$6,138,000
Alcoholic beverages sales tax$55,555,000$53,433,000
General sales and gross receipts taxes$4,286,196,000$3,660,590,000
Other selective sales and gross receipts taxes$1,638,553,000$1,548,697,000
Corporations in general license$24,014,000$25,975,000
Corporations net income taxes$1,508,480,000$1,278,046,000
Motor vehicle operators license$47,673,000$44,038,000
Selective sales and gross receipts taxes$3,204,813,000$2,912,346,000
Pari-mutuels sales tax$373,000$306,000
Tobacco products sales tax$352,438,000$227,872,000
Other license taxes$30,000$36,000
Severance taxes$306,810,000$0
Motor vehicle license$436,209,000$458,464,000
Amusements sales tax$153,595,000$115,624,000
Motor fuels sales tax$665,944,000$618,724,000
Insurance premiums sales tax$338,355,000$347,690,000
Source: U.S. Census Bureau

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