State Government Tax Collections, Public Utilities - Selective Sales Taxes in Connecticut
CTUTILITAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
338,357.00
Year-over-Year Change
2.22%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures selective sales tax collections by state governments in Connecticut, specifically related to public utilities. It provides insight into revenue generation and consumer demand for utility services 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, Public Utilities - Selective Sales Taxes in Connecticut series tracks the amount of selective sales tax revenue collected by the Connecticut state government from public utility services. This data is used by economists and policymakers to analyze trends in utility consumption, the tax burden on consumers, and the state's overall fiscal health.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government finances.
Historical Context
This economic indicator is relevant for understanding Connecticut's tax policy, consumer spending patterns, and the financial stability of the state's public utility sector.
Key Facts
- Connecticut collected $436 million in public utility selective sales taxes in 2021.
- Utility taxes account for about 3% of Connecticut's total state tax revenue.
- Public utility tax collections have grown by 12% in Connecticut over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the amount of selective sales tax revenue collected by the Connecticut state government from public utility services, such as electricity, gas, and telecommunications.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer demand for utility services, the tax burden on residents, and the overall fiscal health of Connecticut's state government.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government finances.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze trends in utility consumption, evaluate the impact of tax policies, and assess the financial stability of Connecticut's public utility sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Public Utilities - Selective Sales Taxes in Connecticut (CTUTILITAX), retrieved from FRED.