State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Iowa
IAFUELTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
680,282.00
Year-over-Year Change
54.55%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Iowa' series measures the revenue collected by the Iowa state government from taxes on motor fuel sales. This trend is important for policymakers to understand state-level tax revenue and the impact of fuel prices on consumers.
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 tax revenue generated from the sale of motor fuels, such as gasoline and diesel, in the state of Iowa. It provides insight into consumer spending patterns, transportation costs, and the fiscal health of the state government.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state tax authorities.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess the economic conditions and tax revenue in Iowa.
Key Facts
- Iowa collected $645 million in motor fuel taxes in 2021.
- The state's motor fuel tax rate is 30.5 cents per gallon.
- Motor fuel taxes account for around 10% of Iowa's total state tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state government of Iowa from the sale of motor fuels, such as gasoline and diesel.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer spending on transportation, the fiscal health of the state government, and the impact of fuel prices on Iowa's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess state-level tax revenue, the impact of fuel prices on consumers, and the overall economic conditions in Iowa.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may be subject to revisions as more information becomes available.
Related Trends
Earnings by Place of Work in Iowa
IAEPLA
Personal Consumption Expenditures: Goods: Durable Goods: Other Durable Goods for Iowa
IAPCEODURG
Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Iowa
IAMISCMANRGSP
Homeownership Rate for Iowa
IAHOWN
Regional Price Parities: Services: Housing for Iowa
IARPPSERVERENT
Gross Domestic Product: Waste Management and Remediation Services (562) in Iowa
IAWASTENGSP
Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Iowa (IAFUELTAX), retrieved from FRED.