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Evergreen Reporter

Wednesday, December 4, 2024

Higher individual income tax revenue in The state of Washington during Q2

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Drew Shirk Director of the Department of Revenue at Washington Department of Revenue | Washington Department of Revenue

Drew Shirk Director of the Department of Revenue at Washington Department of Revenue | Washington Department of Revenue

Washington collected $901 million in individual income taxes during the second quarter of 2024, a 7,408.3% increase over the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

The previous quarter's individual income tax revenue was $12 million.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest, and income from intangibles.

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.

Overall, Washington collected approximately $9.7 billion in combined tax revenues in the second quarter of 2024, which is nearly identical to the amount collected in the previous quarter.

Q2 Washington Tax Collections
Type of TaxAmount (millions)
Property Taxes$390
Sales and Gross Receipts Taxes$7,164
Individual Income Taxes$901
License Taxes$620
Other Taxes$617
Source: U.S. Census Bureau

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