State Government Tax Collections, Total Selective Sales Taxes in Pennsylvania
PATLSLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,010,122.00
Year-over-Year Change
50.41%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total selective sales tax collections by the Pennsylvania state government. It provides insight into consumer spending and state tax revenue, which are important indicators for policymakers and economists.
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 Selective Sales Taxes in Pennsylvania series tracks the total amount of selective sales taxes collected by the Pennsylvania state government. Selective sales taxes are applied to specific goods and services, unlike general sales taxes. This data is used to analyze consumer spending patterns and state fiscal conditions.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state and local government finances.
Historical Context
This economic trend is relevant for understanding Pennsylvania's tax policy, consumer demand, and state revenue.
Key Facts
- Pennsylvania collected $13.3 billion in selective sales taxes in 2021.
- Selective sales taxes account for over 30% of Pennsylvania's total state tax revenue.
- Motor fuel taxes make up the largest portion of Pennsylvania's selective sales tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of selective sales taxes collected by the Pennsylvania state government. Selective sales taxes are levied on specific goods and services, unlike general sales taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending patterns and state tax revenue in Pennsylvania, which are important indicators for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state and local government finances.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze Pennsylvania's tax policy, consumer demand, and state revenue, which informs decisions on budgets, spending, and economic regulations.
Q: Are there update delays or limitations?
A: There may be a several month delay in the reporting of this data by the Census Bureau. The data also does not provide a breakdown of specific selective sales tax categories.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Selective Sales Taxes in Pennsylvania (PATLSLTAX), retrieved from FRED.