State Tax Collections: T09 General Sales and Gross Receipts Taxes for Iowa
QTAXT09QTAXCAT3IANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,079.00
Year-over-Year Change
2.76%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures general sales and gross receipts tax collections in the state of Iowa. It provides valuable insights into consumer spending and economic activity 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 Tax Collections: T09 General Sales and Gross Receipts Taxes for Iowa series tracks the total revenue generated from sales and gross receipts taxes levied by the state government. This metric is a key indicator of consumer demand and the overall health of the Iowa economy.
Methodology
The data is collected and reported by the U.S. Census Bureau through state and local government tax surveys.
Historical Context
Policymakers and analysts use this trend to evaluate economic conditions and inform fiscal policy decisions.
Key Facts
- Iowa's sales tax rate is 6%.
- General sales and gross receipts taxes account for over 50% of Iowa's total state tax revenue.
- Sales tax collections in Iowa have grown by an average of 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated from general sales and gross receipts taxes levied by the state government of Iowa.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer spending patterns and the overall health of the Iowa economy, which is crucial information for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through state and local government tax surveys.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate economic conditions and inform fiscal policy decisions in Iowa.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Census Bureau, with a typical delay of 3-6 months.
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Citation
U.S. Federal Reserve, State Tax Collections: T09 General Sales and Gross Receipts Taxes for Iowa (QTAXT09QTAXCAT3IANO), retrieved from FRED.