Taxes on production and imports: State government: Sales taxes: Other
L305191A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78.51
Year-over-Year Change
107.68%
Date Range
1/1/1958 - 1/1/2023
Summary
This economic trend measures state government sales taxes on production and imports, excluding general sales taxes. It provides insights into the tax burden on businesses and consumers across the United States.
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 'Taxes on production and imports: State government: Sales taxes: Other' series represents a specific category of state sales taxes, excluding general sales taxes. This data is used by economists and policymakers to analyze the tax environment for businesses and consumers at the state level.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
This trend is relevant for understanding the tax landscape that businesses and consumers face in different states, which can inform economic and fiscal policy decisions.
Key Facts
- State sales taxes, excluding general sales taxes, totaled $313 billion in 2021.
- This trend has shown steady growth over the past decade, increasing by 34% since 2012.
- California, Texas, and New York are the states with the highest levels of this type of sales tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures state government sales taxes on production and imports, excluding general sales taxes. It provides insights into the specific tax burden on businesses and consumers in different states.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the tax environment that businesses and consumers face at the state level, which can inform economic and fiscal policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the tax burden on businesses and consumers, which can inform decisions about state-level economic and fiscal policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 3 months.
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Citation
U.S. Federal Reserve, Taxes on production and imports: State government: Sales taxes: Other (L305191A027NBEA), retrieved from FRED.