State and local government current tax receipts: Taxes on production and imports: Sales taxes
B248RC1Q027SBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
618.45
Year-over-Year Change
5.91%
Date Range
1/1/1958 - 4/1/2025
Summary
This economic trend measures state and local government tax receipts from sales taxes, a critical revenue source for public budgets. It provides insight into consumer spending and economic activity levels.
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 sales tax receipts metric tracks the total tax revenue collected by state and local governments from sales taxes, a key source of public funding. This indicator offers valuable insights into consumer spending patterns and the overall health of the economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on state and local government tax revenue reports.
Historical Context
This economic indicator is closely monitored by policymakers, economists, and market analysts to assess economic conditions and inform fiscal and monetary policy decisions.
Key Facts
- Sales taxes account for over 30% of total state and local tax revenue.
- This metric has shown steady growth over the past decade.
- Sales tax collections are a key source of funding for public services and infrastructure.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total tax revenue collected by state and local governments from sales taxes, a critical source of public funding.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer spending patterns and the overall health of the economy, making it a key indicator for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on state and local government tax revenue reports.
Q: How is this trend used in economic policy?
A: This economic indicator is closely monitored by policymakers, economists, and market analysts to assess economic conditions and inform fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: This data is typically published on a quarterly basis with a short delay, providing timely insights into state and local government finances.
Related Trends
State government total expenditures
W765RC1A027NBEA
Local Government Current Expenditures: Interest payments: to persons and business
Y709RC1A027NBEA
Real net value added: Net domestic product: General government
A194RX1A020NBEA
Real Gross Output of General Government: Intermediate Goods and Services Purchased
W104RL1A225NBEA
Real Gross Output of General Government
W101RL1Q225SBEA
Taxes on production and imports: State government: Sales taxes: Other
L305191A027NBEA
Citation
U.S. Federal Reserve, State and local government current tax receipts: Taxes on production and imports: Sales taxes (B248RC1Q027SBEA), retrieved from FRED.