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Monday, November 25, 2024

Colorado collects $157 million in license tax revenue in Q1

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Heidi Humphreys, Executive Director | Colorado Department of Revenue

Heidi Humphreys, Executive Director | Colorado Department of Revenue

Colorado collected $157 million in license taxes during the first quarter of 2024, 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 $2.8 billion in combined tax revenues in Q1.

Q1 Colorado Tax Collections

Type of TaxAmount (millions)
Income Taxes$829
License Taxes$157
Other Taxes$22
Sales and Gross Receipts Taxes$1,749

Source: U.S. Census Bureau

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