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Friday, May 17, 2024

Wyoming's combined tax revenues down 16.6% from Q4 to Q1 2023

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Director Brenda Henson - Wyoming Department of Revenue | Wyoming Department of Revenue

Director Brenda Henson - Wyoming Department of Revenue | Wyoming Department of Revenue

Combined tax revenues in Wyoming decreased 16.6% 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, Wyoming collected $710 million in taxes during the first quarter of 2023, compared to $851 million in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($277 million) and severance taxes ($256 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 Wyoming Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$277
Other Taxes$256
Property Taxes$126
License Taxes$48
Source: U.S. Census Bureau

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