State Government Tax Collections, Total License Taxes in Massachusetts
MATLLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,417,438.00
Year-over-Year Change
57.55%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total license tax collections by the Massachusetts state government. It provides insights into a key revenue source for state-level policymaking and public finance.
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 License Taxes in Massachusetts series tracks the total amount of tax revenue collected by the Commonwealth of Massachusetts from various licensing fees and charges. This data is used by economists, policymakers, and budget analysts to monitor state fiscal conditions and revenue trends.
Methodology
The data is collected and reported by the U.S. Census Bureau's Governments Division.
Historical Context
This metric informs state budget planning, economic development strategies, and public infrastructure investment.
Key Facts
- Massachusetts collected $1.03 billion in total license taxes in 2021.
- License tax revenue accounts for approximately 3.5% of total Massachusetts state tax collections.
- This metric has shown consistent year-over-year growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: The State Government Tax Collections, Total License Taxes in Massachusetts series tracks the total amount of tax revenue collected by the state government from various licensing fees and charges.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into an important revenue source for state-level policymaking and public finance, informing budget planning, economic development strategies, and infrastructure investment.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau's Governments Division.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and budget analysts use this metric to monitor state fiscal conditions and revenue trends, which informs state budget planning and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total License Taxes in Massachusetts (MATLLICTAX), retrieved from FRED.