State Government Tax Collections, Public Utilities - Selective Sales Taxes in North Dakota
NDUTILITAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35,593.00
Year-over-Year Change
-11.66%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures selective sales tax collections by state governments in North Dakota, specifically from public utilities. It provides insights into consumer and business spending on utilities and the related tax revenue.
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, Public Utilities - Selective Sales Taxes in North Dakota metric tracks tax receipts generated from the sale of public utility services in the state. It is a key indicator of economic activity and consumer demand for electricity, gas, water, and other utility services.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government tax collection agencies.
Historical Context
This trend is used by policymakers, economists, and market analysts to assess the health of North Dakota's utility sector and consumer spending patterns.
Key Facts
- North Dakota's public utility sales tax collections totaled $113 million in 2021.
- Utility sales taxes account for 5.2% of North Dakota's total state tax revenue.
- The public utilities sector contributes over 8% to North Dakota's gross state product.
FAQs
Q: What does this economic trend measure?
A: This trend measures selective sales tax collections by the North Dakota state government from the public utilities sector, including electricity, natural gas, water, and other utility services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer and business spending on utilities, as well as the related tax revenue for the state government. It is a key indicator of economic activity and demand in North Dakota's utility sector.
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 agencies.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to assess the health of North Dakota's utility sector and consumer spending patterns, which can inform decisions around taxation, regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay by the U.S. Census Bureau. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Public Utilities - Selective Sales Taxes in North Dakota (NDUTILITAX), retrieved from FRED.