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Saturday, November 16, 2024

Nevada's combined tax revenues up 78.5% from Q1 to Q2 2022

Combined tax revenues in Nevada increased 78.5% in the second quarter of 2022 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Nevada collected $5.1 billion in taxes during the second quarter of 2022, compared to $2.9 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($3.8 billion) and documentary and stock transfer taxes ($706 million).

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.

Q2 Nevada Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$3,816
Other Taxes$706
Property Taxes$371
License Taxes$215
Source: U.S. Census Bureau

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