State Government Tax Collections, Corporations in General Licenses in Ohio
OHCORPLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
237,032.00
Year-over-Year Change
-85.90%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures state-level corporate license tax collections in Ohio. It provides insight into the tax burden on businesses and corporate economic activity 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, Corporations in General Licenses in Ohio series tracks the revenue generated by the state of Ohio through licensing fees paid by corporations operating within its borders. This metric is used by economists and policymakers to analyze the business tax environment and corporate economic performance in Ohio.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government tax authorities.
Historical Context
Corporate license tax collections are an important indicator of the overall business climate and tax policies in Ohio.
Key Facts
- Ohio collects over $100 million annually in corporate licensing fees.
- Corporate license tax collections in Ohio have grown by 25% over the past decade.
- Ohio's corporate license tax rate is among the highest in the Midwest region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue collected by the state of Ohio through licensing fees paid by corporations operating within the state.
Q: Why is this trend relevant for users or analysts?
A: Corporate license tax collections provide insight into the business tax environment and corporate economic activity in Ohio, which is valuable information for economists, policymakers, and businesses.
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 tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze the tax burden on businesses and the overall competitiveness of Ohio's corporate tax policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Corporations in General Licenses in Ohio (OHCORPLICTAX), retrieved from FRED.