State Government Tax Collections, Total License Taxes in Connecticut
CTTLLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
404,268.00
Year-over-Year Change
-2.91%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total License Taxes in Connecticut' trend measures total license tax revenue collected by the Connecticut state government. This metric is important for economists and policymakers to analyze state fiscal health and revenue sources.
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 economic indicator tracks the total amount of license tax revenue, which includes fees and charges for various state-issued licenses, permits, and registrations. It provides insight into a key component of Connecticut's overall state tax collections and fiscal position.
Methodology
The data is collected through surveys of state government finance officers.
Historical Context
This trend is used by economists and analysts to assess Connecticut's tax base, revenue sources, and economic conditions.
Key Facts
- Connecticut collected $1.2 billion in total license taxes in 2021.
- License taxes account for about 5% of Connecticut's total state tax revenue.
- Connecticut's license tax collections have grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of license tax revenue collected by the Connecticut state government, including fees and charges for various state-issued licenses, permits, and registrations.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into a key component of Connecticut's overall state tax collections and fiscal position, which is important for economists and policymakers to analyze state fiscal health and revenue sources.
Q: How is this data collected or calculated?
A: The data is collected through surveys of state government finance officers.
Q: How is this trend used in economic policy?
A: This trend is used by economists and analysts to assess Connecticut's tax base, revenue sources, and economic conditions, which can inform fiscal and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be a delay in accessing the most recent information.
Related Trends
All Employees: Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers in Connecticut
SMU09000004142500001A
Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Connecticut
CTRETAILQGSP
Real Gross Domestic Product: Water Transportation (483) in Connecticut
CTWATTRANRGSP
Not in Labor Force: Discouraged Workers for Connecticut
DISCWORKCT
Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Connecticut
SMU09000006500000003
State Government Tax Collections, Motor Vehicle Licenses in Connecticut
CTMOTOLICTAX
Citation
U.S. Federal Reserve, State Government Tax Collections, Total License Taxes in Connecticut (CTTLLICTAX), retrieved from FRED.