State Government Tax Collections, Total Sales and Gross Receipts Taxes in Nebraska
NESLGRTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,663,203.00
Year-over-Year Change
74.96%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from total sales and gross receipts taxes in Nebraska. It is a key indicator of economic activity and consumer spending 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
The State Government Tax Collections, Total Sales and Gross Receipts Taxes in Nebraska metric tracks the total revenue collected by the Nebraska state government from sales and gross receipts taxes. This data is used to assess the strength of consumer demand, business activity, and overall economic conditions in the state.
Methodology
The data is collected and calculated by the U.S. Census Bureau through surveys of state and local government tax revenue.
Historical Context
This trend is closely monitored by policymakers, economists, and market analysts to gauge the health of Nebraska's economy and guide fiscal and economic policy decisions.
Key Facts
- Nebraska state sales and gross receipts taxes account for over 50% of total state tax revenue.
- Tax collections in this category have grown by an average of 3.5% annually over the past decade.
- Nebraska's sales tax rate is currently 5.5%, one of the lower rates in the Midwest region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of tax revenue collected by the state government of Nebraska from sales and gross receipts taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of consumer spending, business activity, and overall economic conditions in Nebraska, making it relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through surveys of state and local government tax revenue.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor this trend to gauge the health of Nebraska's economy and guide fiscal and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a delay of several months, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Sales and Gross Receipts Taxes in Nebraska (NESLGRTAX), retrieved from FRED.