State Government Tax Collections, Other License Taxes in Idaho
IDOTHLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,176.00
Year-over-Year Change
32.21%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from other license taxes in Idaho. It provides insights into a key revenue source for state policymakers.
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, Other License Taxes in Idaho' series tracks revenue collected by the Idaho state government from various licensing fees and permits, excluding major tax types like income, sales, and property taxes.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance.
Historical Context
This trend is used by economists and policymakers to analyze Idaho's fiscal conditions and revenue mix.
Key Facts
- Idaho collected $206 million in other license taxes in 2021.
- This revenue source made up about 5% of Idaho's total state tax collections.
- Other license taxes include fees for professional licenses, motor vehicle registrations, and various business permits.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the Idaho state government from various licensing fees and permits, excluding major tax types like income, sales, and property taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into an important revenue source for the Idaho state government, which can inform analysis of the state's fiscal conditions 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: Economists and policymakers use this trend to analyze Idaho's revenue mix and fiscal health, which can inform budgeting, taxation, and other policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a delay, typically several months after the end of the reporting period. The Census Bureau's state government finance survey is the primary source, so the data may be subject to revisions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Other License Taxes in Idaho (IDOTHLICTAX), retrieved from FRED.