State Government Tax Collections, Corporation Net Income Taxes in North Carolina
NCCORPINCTX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,558,772.00
Year-over-Year Change
27.76%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Corporation Net Income Taxes in North Carolina' trend measures revenue from corporate income taxes collected by the North Carolina state government. This provides insight into the economic health and tax burden of businesses operating in the state.
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 data series tracks North Carolina's state government revenue from corporation net income taxes. It serves as an indicator of corporate profitability and tax contributions within the state's economy, which is relevant for policymakers and economic analysts.
Methodology
The data is collected by the North Carolina Department of Revenue and reported to the U.S. Census Bureau.
Historical Context
Corporate income tax revenue is an important consideration for state fiscal and economic policy.
Key Facts
- North Carolina is one of 44 U.S. states that levies a corporate income tax.
- The current North Carolina corporate income tax rate is 2.5%.
- Corporate income taxes make up about 7% of North Carolina's total state tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures revenue collected by the North Carolina state government from corporate income taxes.
Q: Why is this trend relevant for users or analysts?
A: Corporate income tax revenue provides insight into the profitability and tax burden of businesses operating in North Carolina, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the North Carolina Department of Revenue and reported to the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Corporate income tax revenue is an important factor in state fiscal and economic policy, as it reflects the tax contributions and financial health of businesses in the state.
Q: Are there update delays or limitations?
A: The data is reported quarterly, and there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Corporation Net Income Taxes in North Carolina (NCCORPINCTX), retrieved from FRED.