State Government Tax Collections, Severance Taxes in Montana
MTSVRNCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
241,180.00
Year-over-Year Change
-21.08%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic indicator tracks state government tax collections from severance taxes in Montana. It provides insight into the state's revenue from the extraction and production of natural resources, which is crucial for budgeting and economic policy analysis.
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
Severance taxes are levied by state governments on the extraction of natural resources, such as oil, gas, and minerals, within their borders. The MTSVRNCTAX series reflects Montana's tax revenue from these activities, offering a window into the state's resource-based economy and fiscal conditions.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue.
Historical Context
Severance tax trends are closely monitored by policymakers, industry analysts, and economic researchers to understand state budgets, energy markets, and natural resource development.
Key Facts
- Montana levies severance taxes on oil, gas, coal, and metallic minerals.
- Severance tax revenue accounts for around 5% of Montana's total state tax collections.
- Severance tax rates in Montana range from 0.4% to 12.5% depending on the resource.
FAQs
Q: What does this economic trend measure?
A: The MTSVRNCTAX series tracks state government tax revenue collected from the extraction and production of natural resources in Montana, such as oil, gas, and minerals.
Q: Why is this trend relevant for users or analysts?
A: Severance tax revenue is an important indicator of a state's resource-based economy and fiscal conditions, providing insight for policymakers, industry analysts, and economic researchers.
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 Tax Revenue.
Q: How is this trend used in economic policy?
A: Severance tax trends are closely monitored to understand state budgets, energy markets, and natural resource development, informing economic policies and decisions.
Q: Are there update delays or limitations?
A: The MTSVRNCTAX data is published quarterly, with a typical 3-month lag between the end of the reference period and the release of the data.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Severance Taxes in Montana (MTSVRNCTAX), retrieved from FRED.