State Government Tax Collections, Death and Gift Taxes in Pennsylvania
PADTHGFTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,580,764.00
Year-over-Year Change
96.43%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures death and gift tax collections by the state government of Pennsylvania. It provides insights into Pennsylvania's fiscal position and tax revenue from these sources.
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, Death and Gift Taxes in Pennsylvania metric tracks the total revenue generated by Pennsylvania's state government from estate, inheritance, and gift taxes. This data is used by economists and policymakers to assess the state's fiscal health and tax policy.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue program.
Historical Context
This trend is relevant for analyzing Pennsylvania's tax policy and revenue composition.
Key Facts
- Pennsylvania collected $1.04 billion in death and gift taxes in 2021.
- Death and gift taxes account for about 3% of Pennsylvania's total state tax revenue.
- Pennsylvania's death and gift tax revenue has declined by 25% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue collected by the Pennsylvania state government from estate, inheritance, and gift taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into Pennsylvania's fiscal position and tax policy, which is useful for economists, policymakers, and analysts assessing the state's economic and financial health.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue program.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze Pennsylvania's tax revenue composition and inform discussions around state fiscal policy and tax policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly, so there may be a 1-3 month delay in the most recent figures being available.
Related Trends
Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Pennsylvania
PAADMINWASTQGSP
Chain-Type Quantity Index for Real GDP: Computer and Electronic Product Manufacturing (334) in Pennsylvania
PACPUELCPMANQGSP
Gross Domestic Product: Private Industries in Pennsylvania
PAPINGSP
Business Applications for Pennsylvania
BUSAPPWNSAPA
Monthly State Retail Sales: Electronics and Appliance Stores in Pennsylvania
MSRSPA443
Coefficient for Industrial Carbon Dioxide Emissions, Asphalt and Road Oil for Pennsylvania
EMISSCO2CARICBPAA
Citation
U.S. Federal Reserve, State Government Tax Collections, Death and Gift Taxes in Pennsylvania (PADTHGFTAX), retrieved from FRED.