State Government Tax Collections, Motor Vehicle Licenses in North Carolina
NCMOTOLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,019,010.00
Year-over-Year Change
79.01%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures state government tax collections from motor vehicle licenses in North Carolina. It provides insight into a key revenue source for state governments.
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, Motor Vehicle Licenses in North Carolina series tracks the total amount of tax revenue the state government collects from motor vehicle registration and licensing fees. This data is useful for analyzing state fiscal health and policy changes that impact transportation-related tax collections.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance.
Historical Context
Policymakers and analysts use this trend to understand North Carolina's transportation funding sources and the state's overall tax revenue composition.
Key Facts
- North Carolina collected $869 million in motor vehicle license taxes in 2021.
- Motor vehicle license taxes account for about 4% of North Carolina's total state tax revenue.
- This revenue source has grown by an average of 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of tax revenue the North Carolina state government collects from motor vehicle registration and licensing fees.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into an important revenue source for the state government and can be used to analyze North Carolina's fiscal health and transportation funding policies.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand the composition of North Carolina's tax revenue and the role of transportation-related fees in funding state operations and programs.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 6-12 months after the end of the fiscal year. There may also be revisions to prior-year estimates.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Vehicle Licenses in North Carolina (NCMOTOLICTAX), retrieved from FRED.