State Government Tax Collections, Total Sales and Gross Receipts Taxes in Ohio
OHSLGRTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,290,341.00
Year-over-Year Change
92.70%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total sales and gross receipts tax collections by the state government of Ohio. It is an important indicator of consumer spending and economic activity within 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 Ohio series tracks the total amount of sales and gross receipts taxes collected by the Ohio state government. This data is used by policymakers and economists to monitor consumer spending patterns and assess the overall health of the state's economy.
Methodology
The data is collected through the U.S. Census Bureau's Quarterly Summary of State and Local Government Tax Revenue survey.
Historical Context
Trends in state sales tax collections are closely watched by policymakers and market analysts as a real-time indicator of consumer behavior and economic conditions.
Key Facts
- Ohio is the 7th most populous U.S. state.
- Sales tax accounts for over 30% of Ohio's state tax revenue.
- The state sales tax rate in Ohio is 5.75%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of sales and gross receipts taxes collected by the state government of Ohio.
Q: Why is this trend relevant for users or analysts?
A: Trends in state sales tax collections provide valuable insights into consumer spending patterns and the overall health of Ohio's economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Quarterly Summary of State and Local Government Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor state sales tax collections to assess the impact of economic conditions on consumer behavior and state tax revenue.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a slight delay for data collection and processing.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Sales and Gross Receipts Taxes in Ohio (OHSLGRTAX), retrieved from FRED.