State Government Tax Collections, Severance Taxes in Arizona
AZSVRNCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,513.00
Year-over-Year Change
-46.98%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures the total severance tax collections by the state government of Arizona. Severance taxes are levied on the extraction of natural resources, providing important revenue for state budgets.
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 a key source of income for resource-rich states like Arizona, where significant mineral and energy reserves are extracted. This data series tracks the overall amount of severance tax revenue collected by the Arizona state government over time.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finances.
Historical Context
Severance tax revenue is closely watched by policymakers and markets as an indicator of resource extraction activity and state fiscal health.
Key Facts
- Arizona is a major producer of copper, coal, and natural gas.
- Severance taxes accounted for over $200 million in state revenue in 2021.
- Severance tax collections can fluctuate with commodity prices and extraction levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of severance tax revenue collected by the state government of Arizona. Severance taxes are levied on the extraction of natural resources like minerals and energy.
Q: Why is this trend relevant for users or analysts?
A: Severance tax revenue is an important indicator of resource extraction activity and state fiscal health in resource-rich states like Arizona. Analysts and policymakers closely track this data.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: Severance tax revenue is used by Arizona policymakers and budget analysts to assess the state's fiscal position and plan budgets. It also provides insight into the health of key state industries like mining and energy.
Q: Are there update delays or limitations?
A: There may be a several month lag in the availability of the most recent severance tax collection data from Arizona due to state government reporting timelines.
Related Trends
State Government Tax Collections, Total Other Taxes in Arizona
AZTLOTHTAX
Chain-Type Quantity Index for Real GDP: Accommodation (721) in Arizona
AZACCOMDQGSP
Personal Consumption Expenditures: Services: Food Services and Accommodations for Arizona
AZPCEFDSRVACCMD
All Employees: Accommodation and Food Services in Arizona
SMU04000007072000001A
Coefficient for Transportation Carbon Dioxide Emissions, Lubricants for Arizona
EMISSCO2CLUACBAZA
All Employees: State Government Educational Services in Arizona
SMU04000009092161101A
Citation
U.S. Federal Reserve, State Government Tax Collections, Severance Taxes in Arizona (AZSVRNCTAX), retrieved from FRED.