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Friday, September 20, 2024

Colorado collects $196 million in license tax revenue in Q4

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Heidi Humphreys, Executive Director | Colorado Department of Revenue

Heidi Humphreys, Executive Director | Colorado Department of Revenue

Colorado collected $196 million in license taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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, Colorado collected $4.9 billion in combined tax revenues in Q4.

Q4 Colorado Tax Collections

Type of TaxAmount (millions)
Income Taxes$3,021
License Taxes$196
Other Taxes$62
Sales and Gross Receipts Taxes$1,650

Source: U.S. Census Bureau

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