Severance taxes revenue in Nevada decreased 63.4% in 2023 compared to previous year

Mike Kehoe, Governor of the state of Missouri - www.nga.org
Mike Kehoe, Governor of the state of Missouri - www.nga.org
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Out of the $14.3 billion in total state tax revenue collected by Nevada in 2023, $80 million came from severance taxes, representing a decrease from the previous year, when the total was $218.7 million, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

The State Government Tax Collections (STC) survey tracks five major tax categories and up to 25 subcategories, gathering data from all 50 state governments and their dependent agencies.

The Census Bureau notes that it defines tax classifications consistently across states, which may differ from how individual states categorize them.

All figures in this article reflect taxes collected by state governments only, based on the STC. They do not include local taxes, such as most property taxes, which make up a significant portion of overall taxes paid by residents.

According to the U.S. Census Bureau, state and local governments collect a wide range of taxes to fund public programs and services. These revenues are typically allocated to areas such as transportation, education, and public safety. In 2024, state tax collections alone amounted to nearly $1.5 trillion nationwide, representing a significant part of overall government operations.

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

Nevada Tax Collections 2023 vs. 2022
Type of Tax 2023 amount 2022 amount
General sales and gross receipts taxes $8,091,153,000 $7,653,725,000
Selective sales and gross receipts taxes $2,946,305,000 $3,003,125,000
Amusements sales taxes $1,330,860,000 $1,356,309,000
Other taxes, NEC $846,580,000 $755,672,000
Insurance premiums sales taxes $546,898,000 $518,019,000
Other selective sales and gross receipts taxes $384,731,000 $469,751,000
Motor fuels sales taxes $376,578,000 $377,553,000
Occupation and businesses license taxes $296,903,000 $292,334,000
Motor vehicle license taxes $227,541,000 $223,192,000
Tobacco products sales taxes $170,434,000 $179,824,000
Documentary and stock transfer taxes $119,199,000 $191,497,000
Corporations in general license taxes $88,697,000 $92,114,000
Severance taxes $79,953,000 $218,715,000
Amusements license taxes $79,831,000 $95,820,000
Public utilities sales taxes $49,541,000 $49,872,000
Alcoholic beverages sales taxes $47,269,000 $51,794,000
Motor vehicle operators license taxes $26,098,000 $26,613,000
Hunting and fishing license taxes $13,298,000 $13,137,000
Other license taxes $6,254,000 $9,051,000

Information in this story was obtained from the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC). The source data can be found here.



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