State Government Tax Collections, Total Other Taxes in Indiana
INTLOTHTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,235.00
Year-over-Year Change
-99.31%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures total state government tax collections for other taxes in Indiana, excluding individual income, corporate income, and sales taxes. It provides insight into the state's diverse revenue sources and fiscal conditions.
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, Total Other Taxes in Indiana indicator tracks tax revenues collected by the Indiana state government from sources like motor vehicle licenses, public utility taxes, and other miscellaneous levies. This data is useful for analyzing Indiana's overall tax burden and fiscal policy.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance.
Historical Context
Policymakers and analysts use this metric to monitor Indiana's revenue composition and financial health.
Key Facts
- Indiana collected $3.4 billion in total other taxes in 2021.
- Other taxes account for around 15% of Indiana's total state tax revenue.
- Motor vehicle license taxes are the largest component of Indiana's other tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of tax revenue collected by the Indiana state government from sources other than individual income, corporate income, and sales taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the diversity of Indiana's tax revenue sources and the state's overall fiscal position.
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: Policymakers and analysts use this metric to monitor Indiana's revenue composition and financial health, which informs decisions about taxation, spending, and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in reflecting the most recent fiscal year.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Other Taxes in Indiana (INTLOTHTAX), retrieved from FRED.