State Government Tax Collections, Corporation Net Income Taxes in Alabama
ALCORPINCTX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,181,796.00
Year-over-Year Change
427.96%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from corporation net income taxes in Alabama. It provides insight into the overall business and tax 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, Corporation Net Income Taxes in Alabama series tracks the revenue collected by the Alabama state government from taxes on the net income of corporations operating in the state. This metric is an important indicator of the overall health and profitability of the Alabama business sector.
Methodology
The data is collected and reported by the U.S. Census Bureau through their quarterly state and local government tax revenue survey.
Historical Context
Policymakers and economists use this data to assess the tax burden on corporations and monitor the Alabama business climate.
Key Facts
- Alabama collects the 4th highest amount of corporate income tax revenue among U.S. states.
- Corporate income taxes account for around 7% of Alabama's total state tax collections.
- The state's corporate tax rate is a flat 6.5% on net taxable income.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of corporation net income taxes collected by the state government of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the overall profitability and tax burden of corporations operating in Alabama, which is an important indicator of the state's business climate and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through their quarterly state and local government tax revenue survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the tax environment for corporations and monitor the overall health of Alabama's business sector when making economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Corporation Net Income Taxes in Alabama (ALCORPINCTX), retrieved from FRED.