State Government Tax Collections, Individual Income Taxes in Colorado
COINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,799,855.00
Year-over-Year Change
39.47%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures individual income tax collections by the state government of Colorado. It is a key indicator of economic activity and fiscal health in the state.
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 Government Tax Collections, Individual Income Taxes in Colorado trend tracks the total amount of personal income taxes collected by the Colorado state government. This data is used by economists and policymakers to assess the economic conditions and fiscal position of the state.
Methodology
The data is collected directly from the Colorado Department of Revenue.
Historical Context
This trend is relevant for understanding Colorado's tax revenue, budget, and economic performance.
Key Facts
- Colorado has a flat personal income tax rate of 4.55%.
- Individual income taxes account for over 50% of Colorado's total tax revenue.
- Colorado's individual income tax collections have grown by over 30% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of individual income taxes collected by the state government of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Colorado's economic activity and fiscal health, as individual income taxes are a major source of revenue for the state.
Q: How is this data collected or calculated?
A: The data is collected directly from the Colorado Department of Revenue.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess Colorado's economic conditions and make informed decisions about fiscal policy and budgeting.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month delay by the Federal Reserve.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Individual Income Taxes in Colorado (COINCTAX), retrieved from FRED.