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Sunday, December 22, 2024

Colorado's miscellaneous tax revenues down 61.1% in Q3 2023

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Heidi Humphreys, Executive Director | Colorado Department of Revenue

Heidi Humphreys, Executive Director | Colorado Department of Revenue

Colorado collected $42 million in miscellaneous tax revenue during the third quarter of 2023, a 61.1% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $108 million in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

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 the state governments.

Q3 2023 Colorado Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$1,741
Income Taxes$3,171
License Taxes$167
Miscellaneous Taxes$42

Source: U.S. Census Bureau

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