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U.S. state, local government tax revenues up 2.2 pct to $294.2 bln in Q3
December 20, 2016 / 8:15 PM / a year ago

U.S. state, local government tax revenues up 2.2 pct to $294.2 bln in Q3

SAN FRANCISCO, Dec 20 (Reuters) - U.S. state and local government tax revenues increased to $294.2 billion in the third quarter of 2016, a 2.2 percent increase versus the same period a year ago, according to data from the U.S. Census Bureau published on Tuesday.

Property tax collections grew 3.2 percent to $105.7 billion from $102.4 billion collected in the same quarter of 2015.

The data examines the four largest state and local government tax categories: property, sales, individual income and corporate income taxes.

General sales tax revenue increased slightly, up 2.5 percent to $91.8 billion from $89.6 billion collected in the same quarter in 2015.

Individual income tax collections rose to 86.4 billion, up 2.4 percent from a year ago.

Corporate net income tax revenue for the third quarter declined 9.6 percent to $10.4 billion, from $11.5 billion in the same quarter of 2015.

Total state tax revenue increased 1.4 percent to $216.8 billion from $213.8 billion in the second quarter of last year. Most state tax revenue derives from individual income, sales and gross receipts.

To review the census data click on: www.census.gov/govs/qtax (Reporting by Rory Carroll; Editing by Chizu Nomiyama)

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