State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Mississippi
MSINSURTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
497,792.00
Year-over-Year Change
162.86%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections for insurance premiums and selective sales taxes in Mississippi. It provides valuable insights into the state's tax revenue and consumer spending patterns.
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, Insurance Premiums - Selective Sales Taxes in Mississippi series tracks the revenue collected by the Mississippi state government from taxes on insurance premiums and selective sales taxes. This data is used by economists and policymakers to analyze the state's fiscal health and the economic conditions of the insurance and consumer sectors.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state and local government finances.
Historical Context
This trend is relevant for understanding Mississippi's tax policy, consumer spending, and the overall economic environment within the state.
Key Facts
- Mississippi's state government collected $429 million in insurance premiums and selective sales taxes in 2021.
- Selective sales taxes account for the majority of this revenue stream, making up around 70% of the total.
- Tax collections in this category have remained relatively stable over the past decade, reflecting the consistent demand for insurance and consumer goods in the state.
FAQs
Q: What does this economic trend measure?
A: The State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Mississippi series tracks the revenue collected by the Mississippi state government from taxes on insurance premiums and selective sales taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into Mississippi's fiscal health, consumer spending patterns, and the overall economic conditions within the state, making it relevant for economists, policymakers, and market analysts.
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 and local government finances.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to analyze the state's tax revenue, consumer spending, and the overall economic environment, which can inform decisions on fiscal policy, budget planning, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in reporting.
Related Trends
Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Mississippi
MSMISCMANRGSP
Number of Identified Exporters to Canada from Mississippi
MSCANA475SCEN
Commercial Carbon Dioxide Emissions, Natural Gas (Pipeline) for Mississippi
EMISSCO2VNGCCBMSA
Gross Domestic Product: State and Local in Mississippi
MSGOVSLNGSP
Number of State Member Commercial Banks in Mississippi
X08CBMBSMS
Value of Exports to Luxembourg from Mississippi
MSLUXA052SCEN
Citation
U.S. Federal Reserve, State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Mississippi (MSINSURTAX), retrieved from FRED.