State Government Tax Collections, General Sales and Gross Receipts Taxes in Massachusetts
MASALESTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,396,274.00
Year-over-Year Change
85.00%
Date Range
1/1/1942 - 1/1/2024
Summary
This data series tracks state government tax collections from general sales and gross receipts taxes in Massachusetts. It provides insight into economic activity and consumer spending patterns in the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Government Tax Collections, General Sales and Gross Receipts Taxes in Massachusetts series measures the total revenue collected by the Massachusetts state government from general sales and gross receipts taxes. This is a key indicator of consumer and business activity, and is monitored by policymakers, analysts, and economists.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Historical Context
This metric is used to assess the health of the Massachusetts economy and consumer demand, and can inform fiscal and monetary policy decisions.
Key Facts
- Massachusetts collects over $6 billion annually in general sales and gross receipts taxes.
- Sales tax revenue accounts for nearly 25% of the state's total tax collections.
- The sales tax rate in Massachusetts is currently 6.25%.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total revenue collected by the Massachusetts state government from general sales and gross receipts taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending patterns and overall economic activity in Massachusetts, which is useful for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: This metric is used to assess the health of the Massachusetts economy and consumer demand, and can inform fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a delay of several months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, General Sales and Gross Receipts Taxes in Massachusetts (MASALESTAX), retrieved from FRED.