State Government Tax Collections, Individual Income Taxes in Louisiana
LAINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,882,451.00
Year-over-Year Change
97.30%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures individual income tax collections by the state government of Louisiana. It is an important indicator of state fiscal health and economic 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, Individual Income Taxes in Louisiana series tracks the total amount of individual income taxes collected by the Louisiana state government. This data provides insights into the state's revenue streams and can be used to analyze the broader economic landscape.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finances.
Historical Context
Policymakers and analysts use this data to assess Louisiana's fiscal position and make informed decisions about budgeting and tax policy.
Key Facts
- Louisiana's individual income tax collections totaled $3.3 billion in 2021.
- Individual income taxes account for approximately 30% of Louisiana's state government revenue.
- The COVID-19 pandemic caused a temporary decline in individual income tax collections in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of individual income taxes collected by the state government of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into Louisiana's fiscal health and economic conditions, which is important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess Louisiana's fiscal position and make informed decisions about budgeting and tax policy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Individual Income Taxes in Louisiana (LAINCTAX), retrieved from FRED.