Illinois' combined tax revenues up 31.8% from Q1 to Q2 2022

David Harris Commissioner of Revenue at Illinois Department of Revenue | Illinois Department of Revenue

By Prairie State Wire

Jul 2, 2022

Combined tax revenues in Illinois increased 31.8% in the second 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, Illinois collected $20.1 billion in taxes during the second quarter of 2022, compared to $15.2 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($11.8 billion) and general sales and gross receipts taxes ($7 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.

Q2 Illinois Tax Collections