State Government Tax Collections, Individual Income Taxes in Arizona
AZINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,808,643.00
Year-over-Year Change
55.42%
Date Range
1/1/1942 - 1/1/2024
Summary
The State Government Tax Collections, Individual Income Taxes in Arizona measures the total amount of individual income taxes collected by the state government of Arizona. This metric is important for economists and policymakers to analyze the state's fiscal health and tax policy.
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
This data series represents the total income tax revenue collected by the state government of Arizona from individual taxpayers. It is a key indicator of the state's economic performance and can inform tax policy decisions at the state level.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance offices.
Historical Context
This metric is closely watched by analysts to gauge Arizona's economic conditions and the impact of tax policy changes.
Key Facts
- Arizona has a flat individual income tax rate of 4.5%.
- Individual income taxes account for over 40% of Arizona's total state tax revenue.
- The state's individual income tax collections have grown by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series measures the total amount of individual income taxes collected by the state government of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of Arizona's fiscal health and can inform state tax policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finance offices.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to gauge Arizona's economic conditions and the impact of tax policy changes.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Individual Income Taxes in Arizona (AZINCTAX), retrieved from FRED.