State Government Tax Collections, Total Sales and Gross Receipts Taxes in North Carolina
NCSLGRTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,174,648.00
Year-over-Year Change
90.50%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total sales and gross receipts tax collections by the state government of North Carolina. It provides important insights into consumer spending and state revenue dynamics.
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, Total Sales and Gross Receipts Taxes in North Carolina series tracks the revenue generated from sales and gross receipts taxes levied by the North Carolina state government. This metric is a key indicator of consumer demand and economic activity within the state.
Methodology
The data is collected and published by the U.S. Census Bureau through surveys of state government fiscal operations.
Historical Context
Policymakers and analysts use this trend to assess the health of North Carolina's economy and evaluate the impact of tax policy changes.
Key Facts
- North Carolina's total sales and gross receipts tax collections were $9.7 billion in 2021.
- Sales taxes account for over 50% of North Carolina's state tax revenue.
- Consumer spending, as measured by this trend, grew by 10.2% in North Carolina from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue collected by the North Carolina state government from sales and gross receipts taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer spending and economic activity within North Carolina, which is crucial for policymakers and analysts assessing the state's fiscal health and economic performance.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau through surveys of state government fiscal operations.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the impact of tax policy changes and monitor the overall health of North Carolina's economy.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reporting period. There may also be revisions to historical data.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Sales and Gross Receipts Taxes in North Carolina (NCSLGRTAX), retrieved from FRED.