State Government Tax Collections, Severance Taxes in Arkansas
ARSVRNCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36,372.00
Year-over-Year Change
-56.06%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Severance Taxes in Arkansas' series measures the revenue from severance taxes collected by the state government of Arkansas. This metric is closely monitored by policymakers and economists to gauge economic activity and tax receipts.
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
Severance taxes are levied on the extraction of non-renewable natural resources, such as oil, natural gas, and minerals. The 'State Government Tax Collections, Severance Taxes in Arkansas' series tracks the revenue generated from these taxes, providing insights into the state's energy and mining sectors.
Methodology
The data is collected and reported by the U.S. Census Bureau as part of their quarterly state government tax collection survey.
Historical Context
Severance tax revenues are an important component of state budgets, particularly in resource-rich regions, and can inform economic and fiscal policy decisions.
Key Facts
- Arkansas levies severance taxes on the extraction of natural gas, oil, and other minerals.
- Severance tax revenues accounted for 4.2% of Arkansas's total state tax collections in 2021.
- The 'State Government Tax Collections, Severance Taxes in Arkansas' series dates back to 1993.
FAQs
Q: What does this economic trend measure?
A: The 'State Government Tax Collections, Severance Taxes in Arkansas' series measures the revenue generated from severance taxes levied by the state government on the extraction of non-renewable natural resources.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for understanding the economic activity and tax receipts in Arkansas's energy and mining sectors, and can inform policy decisions related to state budgets and natural resource management.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of their quarterly state government tax collection survey.
Q: How is this trend used in economic policy?
A: Severance tax revenues are an important component of state budgets, particularly in resource-rich regions, and can inform economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The 'State Government Tax Collections, Severance Taxes in Arkansas' series is updated quarterly by the U.S. Census Bureau, with a typical release lag of 3-4 months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Severance Taxes in Arkansas (ARSVRNCTAX), retrieved from FRED.