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Thursday, November 28, 2024

Illinois's miscellaneous tax revenues down 25.7% in Q3 2022

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

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

Illinois collected $156 million in miscellaneous tax revenue during the third quarter of 2022, a 25.7% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $210 million in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

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.

Q3 2022 Illinois Tax Collections

Type of TaxAmount (millions)
Property Taxes$18
Sales and Gross Receipts Taxes$6,880
Income Taxes$6,816
License Taxes$917
Miscellaneous Taxes$156

Source: U.S. Census Bureau

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