State Government Tax Collections, Corporations in General Licenses in Mississippi
MSCORPLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
224,345.00
Year-over-Year Change
53.39%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Corporations in General Licenses in Mississippi' metric measures the revenue collected by the Mississippi state government from corporate licensing taxes. This data provides insight into the business climate and economic activity within 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
This series tracks the total amount of general corporation license taxes collected annually by the state government of Mississippi. It serves as an indicator of corporate tax compliance and the overall fiscal health of businesses operating in the state.
Methodology
The data is collected directly from the Mississippi Department of Revenue's tax collection records.
Historical Context
Policymakers and economists monitor this trend to assess the business environment and tax base in Mississippi.
Key Facts
- Mississippi collected $203 million in corporate license taxes in 2021.
- Corporate license taxes account for approximately 7% of total state tax revenue in Mississippi.
- The corporate license tax rate in Mississippi is 2.5% of a company's net worth or capital.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total amount of general corporation license taxes collected annually by the state government of Mississippi. It serves as an indicator of corporate tax compliance and the overall fiscal health of businesses operating in the state.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this trend provides insight into the business climate and economic activity within Mississippi. Policymakers and economists use this data to assess the state's tax base and make informed decisions about fiscal and economic policies.
Q: How is this data collected or calculated?
A: The data is collected directly from the Mississippi Department of Revenue's tax collection records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to evaluate the business environment and tax base in Mississippi, which informs decisions about fiscal and economic policies affecting corporate activity in the state.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of several months, as it requires compiling tax collection records from the state government.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Corporations in General Licenses in Mississippi (MSCORPLICTAX), retrieved from FRED.