State Government Tax Collections, Severance Taxes in Louisiana
LASVRNCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
828,612.00
Year-over-Year Change
-6.48%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures Louisiana's state government tax collections from severance taxes, which are levied on the extraction of natural resources such as oil, gas, and minerals.
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
Severance taxes are an important revenue source for Louisiana's state government, providing funding for public services and infrastructure. Economists and policymakers closely monitor this data to understand the state's fiscal conditions and energy sector performance.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government tax collections.
Historical Context
Severance tax revenue is a key indicator of Louisiana's energy industry activity and a crucial input for state budget planning.
Key Facts
- Louisiana is the 2nd largest producer of natural gas in the U.S.
- Severance taxes accounted for over 10% of Louisiana's state tax revenue in 2021.
- Severance tax collections can fluctuate significantly due to changes in energy prices and production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state government of Louisiana from severance taxes, which are levied on the extraction of natural resources like oil, gas, and minerals.
Q: Why is this trend relevant for users or analysts?
A: Severance tax revenue is an important indicator of Louisiana's energy industry performance and a key input for the state's budget and fiscal planning.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government tax collections.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to understand Louisiana's fiscal conditions and the health of the state's energy sector, which informs budget decisions and energy policy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 3-month lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Severance Taxes in Louisiana (LASVRNCTAX), retrieved from FRED.