State and Local Government: Tax Receipts on Corporate Income
ASLCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
165.28
Year-over-Year Change
226.22%
Date Range
1/1/1929 - 1/1/2024
Summary
This economic trend measures state and local government tax receipts on corporate income. It provides insights into the tax burden on businesses and can inform policymakers on the impact of tax policies.
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 and Local Government: Tax Receipts on Corporate Income trend tracks the revenue collected by state and local governments from taxes on the profits of corporations operating within their jurisdictions. This data is used by economists and policymakers to analyze the tax environment for businesses and its effects on economic activity.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This trend is relevant for understanding the corporate tax landscape and its potential influence on business investment and location decisions.
Key Facts
- Corporate income taxes account for approximately 5% of total state and local tax revenue.
- Tax receipts on corporate income have fluctuated significantly over the past two decades.
- The corporate income tax rate varies widely across U.S. states and local jurisdictions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by state and local governments on the profits of corporations operating within their jurisdictions.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the tax burden on businesses, which can influence corporate investment and location decisions, and is therefore relevant for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers to analyze the corporate tax environment and its potential impact on economic activity and business decisions.
Q: Are there update delays or limitations?
A: There may be delays in the reporting of this data, and the information may not capture all aspects of the corporate tax landscape.
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Citation
U.S. Federal Reserve, State and Local Government: Tax Receipts on Corporate Income (ASLCTAX), retrieved from FRED.