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Saturday, November 16, 2024

Nevada's combined tax revenues up 2.4% from Q4 to Q1 2023

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Anthony Wren Tax Commissioner at State of Nevada Department of Taxation | State of Nevada Department of Taxation

Anthony Wren Tax Commissioner at State of Nevada Department of Taxation | State of Nevada Department of Taxation

Combined tax revenues in Nevada increased 2.4% in the first quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Nevada collected $3 billion in taxes during the first quarter of 2023, 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 ($2.1 billion) and property taxes ($393 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.

Q1 Nevada Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$2,127
Property Taxes$393
Other Taxes$272
License Taxes$149
Source: U.S. Census Bureau

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