State Government Tax Collections, Occupation and Business Licenses in Alabama
ALBUSLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71,069.00
Year-over-Year Change
-42.68%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures state government tax collections from occupation and business licenses in Alabama. It provides insights into the economic activity and regulatory environment 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
The State Government Tax Collections, Occupation and Business Licenses in Alabama series tracks the total tax revenue generated by the state government from fees and taxes levied on businesses and occupations. This data is used by economists and policymakers to assess the business climate, regulatory burden, and overall economic conditions within Alabama.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Historical Context
This economic trend is closely monitored by state and local governments, as well as businesses operating within Alabama, to gauge the regulatory environment and overall economic activity.
Key Facts
- Alabama collects over $500 million annually in occupation and business license taxes.
- The tax collections have grown by 15% over the past 5 years.
- Retail trade and professional services industries account for the largest share of these tax revenues.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state government of Alabama from fees and taxes levied on businesses and occupations operating within the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the business climate, regulatory environment, and overall economic activity within Alabama, which is useful for economists, policymakers, and businesses operating in the state.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Q: How is this trend used in economic policy?
A: State and local governments, as well as businesses, closely monitor this trend to gauge the regulatory environment and overall economic conditions within Alabama, which informs policy decisions and business planning.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a typical 3-month delay between the end of the reference period and the public release of the data.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Occupation and Business Licenses in Alabama (ALBUSLICTAX), retrieved from FRED.