State Government Tax Collections, Total Sales and Gross Receipts Taxes in North Dakota
NDSLGRTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,881,912.00
Year-over-Year Change
18.02%
Date Range
1/1/1942 - 1/1/2024
Summary
This data series measures total sales and gross receipts taxes collected by the state government of North Dakota. It provides insight into the state's revenue from consumption-based taxes.
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, Total Sales and Gross Receipts Taxes in North Dakota series represents the total sales and gross receipts tax revenue received by the North Dakota state government. This metric is a key indicator of economic activity and consumer spending within the state.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government tax collection records.
Historical Context
This metric is closely monitored by policymakers, economists, and investors to assess North Dakota's economic conditions and fiscal health.
Key Facts
- North Dakota is one of a few U.S. states with no personal income tax.
- Sales and gross receipts taxes account for over 40% of North Dakota's state tax revenue.
- North Dakota's total state tax collections have grown significantly in recent years due to an energy industry boom.
FAQs
Q: What does this economic trend measure?
A: This data series measures the total sales and gross receipts taxes collected by the state government of North Dakota. It reflects the state's revenue from consumption-based taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into North Dakota's economic activity and consumer spending, which is crucial information for policymakers, economists, and investors monitoring the state's fiscal health and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government tax collection records.
Q: How is this trend used in economic policy?
A: State tax revenue data, including sales and gross receipts taxes, is closely tracked by policymakers, economists, and investors to assess a state's economic conditions and fiscal health.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Census Bureau, with a typical 3-month lag between the end of the reference period and the data release.
Related Trends
All Employees: Transportation and Utilities: Utilities in North Dakota
SMU38000004322000001
Imports of Goods: Manufactured Commodities for North Dakota
IMPMANND
Personal Consumption Expenditures: Services: Food Services and Accommodations for North Dakota
NDPCEFDSRVACCMD
All Employees: Construction: Construction of Buildings in North Dakota
SMU38000002023600001SA
Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in North Dakota
NDWHOLEQQGSP
Estimated Percent of People Age 0-17 in Poverty for North Dakota
PPU18ND38000A156NCEN
Citation
U.S. Federal Reserve, State Government Tax Collections, Total Sales and Gross Receipts Taxes in North Dakota (NDSLGRTAX), retrieved from FRED.