State Government Tax Collections, Individual Income Taxes in Mississippi
MSINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,327,803.00
Year-over-Year Change
55.06%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures individual income tax collections by the state government of Mississippi. It provides insights into the state's fiscal health and revenue sources.
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 Mississippi series tracks the total amount of individual income taxes collected by the Mississippi state government. This metric is an important indicator of the state's economic performance and its ability to fund public services.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Historical Context
Policymakers and analysts use this trend to assess Mississippi's fiscal conditions and revenue generation capacity.
Key Facts
- Mississippi relies heavily on individual income taxes for state revenue.
- Income tax collections have fluctuated with economic conditions in the state.
- The trend is used to monitor the state's fiscal health and budget planning.
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 Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Mississippi's fiscal health and revenue generation capacity, which is crucial for policymakers and analysts assessing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor Mississippi's fiscal conditions and revenue generation capacity, which informs budgeting, taxation, and other economic policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly, and there may be some delays in publication due to the Census Bureau's data collection and processing timelines.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Individual Income Taxes in Mississippi (MSINCTAX), retrieved from FRED.