State Government Tax Collections, Corporation Net Income Taxes in Pennsylvania
PACORPINCTX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,956,531.00
Year-over-Year Change
169.76%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections on corporation net income in Pennsylvania. It provides insights into the financial health and profitability of businesses operating 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 Corporation Net Income Tax is a tax levied by the Pennsylvania state government on the net income of corporations doing business in the state. This metric is an important indicator of the overall business climate and economic performance in Pennsylvania.
Methodology
The data is collected and reported by the Pennsylvania Department of Revenue.
Historical Context
This trend is closely monitored by policymakers, economists, and investors to assess the state's fiscal conditions and economic outlook.
Key Facts
- Pennsylvania's corporation net income tax rate is 9.99%.
- Corporation net income tax collections account for around 5% of Pennsylvania's total state tax revenue.
- Tax collections on corporate profits tend to be volatile, reflecting changes in business profitability.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of corporation net income taxes collected by the Pennsylvania state government.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the financial health and profitability of businesses operating in Pennsylvania, which is a key indicator of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Pennsylvania Department of Revenue.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors closely monitor this trend to assess Pennsylvania's fiscal conditions and economic outlook.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis, but there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Corporation Net Income Taxes in Pennsylvania (PACORPINCTX), retrieved from FRED.