State Government Tax Collections, Other License Taxes in Connecticut
CTOTHLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,630.00
Year-over-Year Change
51.51%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures the total amount of other license taxes collected by the state government of Connecticut. It's an important indicator of economic activity and state tax revenue.
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
Other license taxes include taxes on activities such as hunting, fishing, motor vehicle, and other licenses. This metric provides insight into the overall tax collection and fiscal health of the state government.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance.
Historical Context
This trend is closely monitored by state policymakers and analysts to assess economic conditions and budget planning.
Key Facts
- Connecticut collected $376 million in other license taxes in 2021.
- Other license taxes account for about 4% of total state tax revenue in Connecticut.
- This metric has grown at an average annual rate of 2.5% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of other license taxes collected by the state government of Connecticut, including taxes on activities such as hunting, fishing, and motor vehicle licenses.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall tax collection and fiscal health of the Connecticut state government, which is important for economic analysis and 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.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state policymakers and analysts to assess economic conditions and inform budget planning and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Other License Taxes in Connecticut (CTOTHLICTAX), retrieved from FRED.