State Government Tax Collections, Other License Taxes in Indiana
INOTHLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98,200.00
Year-over-Year Change
23.19%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Other License Taxes in Indiana' trend measures tax revenues from various licenses and permits collected by the Indiana state government. This data is crucial for economists and policymakers to analyze the state's fiscal health and economic activity.
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 trend represents taxes and fees collected by the Indiana state government from licenses, permits, and other miscellaneous sources. It provides insight into the state's non-tax revenue streams and overall economic conditions. The data is used to forecast budget revenues and assess the impact of policy changes on the state's fiscal position.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Historical Context
This economic indicator is closely monitored by Indiana state officials, local governments, and economic analysts to understand the state's fiscal capacity and guide policy decisions.
Key Facts
- Indiana collects over $400 million annually in other license taxes.
- License tax revenues account for around 3% of Indiana's total state tax collections.
- The trend has shown steady growth over the past decade, reflecting a growing state economy.
FAQs
Q: What does this economic trend measure?
A: The 'State Government Tax Collections, Other License Taxes in Indiana' trend measures the tax revenues collected by the Indiana state government from various licenses, permits, and miscellaneous sources.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into Indiana's fiscal health and economic activity, as license tax revenues represent a significant non-tax revenue stream for the state. Economists and policymakers use this data to assess the state's fiscal capacity and guide policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Indiana state officials, local governments, and economic analysts closely monitor this indicator to understand the state's fiscal capacity and guide policy decisions related to budgeting, taxation, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a short delay, typically 2-3 months after the end of the reference period. There are no known major limitations to the data.
Related Trends
Exports of Goods: Manufactured Commodities for Indiana
EXPMANIN
Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Indiana
INFININSREALNGSP
Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in Indiana
SMU18000003200000007A
Chain-Type Quantity Index for Real GDP: Data Processing, Hosting, and Other Information Services (518-519) in Indiana
INDATAWWWQGSP
Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods: Transportation Equipment Manufacturing in Indiana
SMU18000003133600030
Gross Domestic Product: Legal Services (5411) in Indiana
INLEGALNGSP
Citation
U.S. Federal Reserve, State Government Tax Collections, Other License Taxes in Indiana (INOTHLICTAX), retrieved from FRED.