State Government Tax Collections, General Sales and Gross Receipts Taxes in Idaho
IDSALESTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,090,372.00
Year-over-Year Change
152.35%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures the general sales and gross receipts taxes collected by the state government of Idaho. It is an important indicator of economic activity and consumer spending within 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, General Sales and Gross Receipts Taxes in Idaho metric tracks the revenue generated by Idaho's state sales tax. This data point provides insights into consumer demand, retail sales, and overall economic conditions in the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This metric is closely watched by policymakers, economists, and businesses to assess the health of Idaho's economy and guide decisions around fiscal policy and resource allocation.
Key Facts
- Idaho has a statewide sales tax rate of 6%.
- Sales tax revenue accounts for over 40% of Idaho's state government tax collections.
- Sales tax collections in Idaho have grown by an average of 5.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of general sales and gross receipts taxes collected by the state government of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending, retail activity, and the overall economic conditions within the state of Idaho, which is valuable information for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to assess the health of Idaho's economy and guide decisions around fiscal policy, resource allocation, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, General Sales and Gross Receipts Taxes in Idaho (IDSALESTAX), retrieved from FRED.