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Hawkeye Reporter

Monday, December 23, 2024

Iowa collects $304 million in license tax revenue in Q1

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Mary Mosiman Director Department of Revenue at Iowa Department of Revenue | Iowa Department of Revenue

Mary Mosiman Director Department of Revenue at Iowa Department of Revenue | Iowa Department of Revenue

Iowa collected $304 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.

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, Iowa collected $3.2 billion in combined tax revenues in Q1.

Q1 Iowa Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,348
License Taxes$304
Other Taxes$20
Property Taxes$0
Sales and Gross Receipts Taxes$1,502

Source: U.S. Census Bureau

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