State Government Tax Collections, Total Sales and Gross Receipts Taxes in Missouri
MOSLGRTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,583,232.00
Year-over-Year Change
59.15%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total Sales and Gross Receipts Taxes in Missouri' metric tracks the total sales and gross receipts tax revenue collected by the state government of Missouri. This data is crucial for understanding Missouri's fiscal health and evaluating the impact of economic conditions on state tax revenues.
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 sales and gross receipts taxes collected by the state government of Missouri. It is an important indicator of Missouri's economic activity and consumer spending patterns, as sales taxes make up a significant portion of the state's tax revenue.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Historical Context
Policymakers and economists use this trend to assess the health of Missouri's economy and inform decisions around fiscal policy, budgeting, and tax policy.
Key Facts
- Missouri's sales and gross receipts tax revenue totaled $9.5 billion in 2020.
- Sales taxes account for over 50% of Missouri's total state tax revenue.
- The COVID-19 pandemic led to a 3.7% decline in Missouri's sales tax collections in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total sales and gross receipts taxes collected by the state government of Missouri. It provides insight into the state's economic activity and consumer spending patterns.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding Missouri's fiscal health and evaluating the impact of economic conditions on the state's tax revenues, which are crucial for funding public services and programs.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health of Missouri's economy and inform decisions around fiscal policy, budgeting, and tax policy.
Q: Are there update delays or limitations?
A: The data is typically published with a few months' delay, and it may not fully capture the impact of certain economic events or policy changes.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Sales and Gross Receipts Taxes in Missouri (MOSLGRTAX), retrieved from FRED.