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Friday, November 22, 2024

Louisiana’s combined tax revenues up 3.1% in Q4 compared to same quarter of the previous year

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Jay Dardenne, Commissioner of Revenue | Louisiana Department of Revenue

Jay Dardenne, Commissioner of Revenue | Louisiana Department of Revenue

Louisiana collected $3.9 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 3.1% increase over the same quarter the previous year when combined tax revenues were $3.7 billion.

The majority of the state’s tax revenue was collected through sales and gross receipts taxes ($2.1 billion) and income taxes ($1.3 billion).

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.

Q4 Louisiana Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,311
License Taxes$210
Other Taxes$233
Property Taxes$15
Sales and Gross Receipts Taxes$2,077

Source: U.S. Census Bureau

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