State Government Tax Collections, General Sales and Gross Receipts Taxes in Alabama
ALSALESTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,592,131.00
Year-over-Year Change
101.88%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures the total sales and gross receipts tax revenue collected by the state government of Alabama. It is a key indicator of consumer spending and 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, General Sales and Gross Receipts Taxes in Alabama series tracks the total sales and gross receipts tax revenue reported by the Alabama state government. This metric provides insight into consumer demand, business performance, and the overall health of the state's economy.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
Sales tax revenue is closely monitored by policymakers and analysts to assess the state's fiscal position and guide economic policy decisions.
Key Facts
- Alabama's sales tax rate is currently 4%.
- Sales tax revenue accounts for over 30% of Alabama's state tax collections.
- The highest recorded quarterly sales tax revenue in Alabama was $1.3 billion in Q4 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total sales and gross receipts tax revenue collected by the Alabama state government, providing insight into consumer spending and economic activity in the state.
Q: Why is this trend relevant for users or analysts?
A: Sales tax revenue is a key indicator of the health of Alabama's economy and consumer demand, making it important for policymakers, businesses, and economists to monitor.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Sales tax revenue is closely tracked by Alabama's policymakers to assess the state's fiscal position and guide economic policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a delay of several months before the most recent information is available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, General Sales and Gross Receipts Taxes in Alabama (ALSALESTAX), retrieved from FRED.