Premier Campbell Newman says Queensland will not take part in any High Court challenge against the federal carbon tax.

Mr Newman had been keen to support other states in fighting the tax.

But he told Radio 2GB he has legal advice the High Court would be unlikely to accept the states' argument.

"I've also talked to at least one other state leader about this and they've had similar advice, so we're not going to waste the taxpayers' money, but I wish I could," he said.

"What if it had been 50-50 - I'd have been in there straight away because this is just economic madness."