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Wednesday, November 13, 2024

Florida’s combined tax revenues up 3.3 percent in Q1 since the same quarter of the previous year

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Florida collected $12.1 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the first quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 3.3 percent increase over the same quarter the previous year when combined tax revenues were $11.7 billion.

The majority of the state’s tax revenue was collected through sales and gross receipts taxes ($9.8 billion) and miscellaneous other taxes ($1.2 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.

Q1 Florida Tax Collections

Type of TaxAmount (in millions of dollars)
Income Taxes$327
License Taxes$810
Other Taxes$1,200
Property Taxes$0
Sales and Gross Receipts Taxes$9,785

Source: U.S. Census Bureau

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