Combined tax revenues in Iowa decreased 47.9% in the third 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, Iowa collected $2.4 billion in taxes during the third quarter of 2022, compared to $4.6 billion in the previous quarter.
The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($1.1 billion) and income taxes ($1 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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.
| Type of Tax | Amount (millions) |
|---|---|
| Sales and Gross Receipts Taxes | $1,050 |
| Income Taxes | $1,049 |
| License Taxes | $277 |
| Other Taxes | $19 |
| Property Taxes | $1 |
Source: U.S. Census Bureau
