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Saturday, December 28, 2024

Florida's license tax revenue up 21.2% in Q1 compared to previous quarter

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Jim Zingale, Commissioner of Revenue | Florida Department of Revenue

Jim Zingale, Commissioner of Revenue | Florida Department of Revenue

Florida collected $853 million in license taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 21.2% increase over the previous quarter, when license tax revenue was $704 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 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.

Overall, Florida collected $15.5 billion in combined tax revenues in Q1.

Q1 Florida Tax Collections

Type of TaxAmount (millions)
Income Taxes$783
License Taxes$853
Other Taxes$910
Property Taxes$0
Sales and Gross Receipts Taxes$12,965

Source: U.S. Census Bureau

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