State Government Tax Collections, Total Income Taxes in Maryland
MDTLINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,496,879.00
Year-over-Year Change
93.78%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total Income Taxes in Maryland' metric tracks the total amount of personal and corporate income taxes collected by the Maryland state government. This data is a key indicator of Maryland's fiscal health and can inform economic policymaking.
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
This series measures the total revenue from income taxes collected by the Maryland state government. It includes both personal and corporate income taxes, providing a comprehensive view of the state's tax receipts. Economists and policymakers monitor this data to assess Maryland's economic performance and budget outlook.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government tax authorities.
Historical Context
Trends in Maryland's total income tax collections are used by analysts to evaluate the state's fiscal position and forecast budget revenues.
Key Facts
- Maryland collects both personal and corporate income taxes.
- Income taxes are the largest source of tax revenue for the Maryland state government.
- Total income tax collections in Maryland have averaged over $12 billion per year.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total amount of personal and corporate income taxes collected by the Maryland state government.
Q: Why is this trend relevant for users or analysts?
A: Trends in Maryland's income tax collections provide insights into the state's fiscal health and economic performance, informing policymaking.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of Maryland state government tax authorities.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to evaluate Maryland's fiscal position and forecast state budget revenues.
Q: Are there update delays or limitations?
A: The data is published quarterly with a short delay, and may be subject to revisions by the Census Bureau.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Income Taxes in Maryland (MDTLINCTAX), retrieved from FRED.