State Tax Collections: T09 General Sales and Gross Receipts Taxes for Ohio
QTAXT09QTAXCAT3OHNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,049.00
Year-over-Year Change
9.58%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic indicator tracks state tax collections for general sales and gross receipts taxes in Ohio. It provides 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 Ohio metric measures the total amount of sales and use taxes collected by the state government. This data point is used by economists and policymakers to assess trends in consumer demand, business operations, and overall economic performance in Ohio.
Methodology
The data is collected directly from the Ohio Department of Taxation through tax filings and remittances.
Historical Context
Analysts monitor this trend to gauge the health of Ohio's economy and inform state fiscal and tax policy decisions.
Key Facts
- Ohio collects over $10 billion annually in general sales and gross receipts taxes.
- Sales tax accounts for over 30% of total state tax revenue in Ohio.
- This metric exhibits seasonal fluctuations tied to consumer spending patterns.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total amount of general sales and gross receipts taxes collected by the state government of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending, business activity, and the overall health of Ohio's economy, which is useful for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected directly from tax filings and remittances submitted to the Ohio Department of Taxation.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this metric to assess the state's fiscal position, consumer demand, and broader economic conditions, which can inform tax and budgetary decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Tax Collections: T09 General Sales and Gross Receipts Taxes for Ohio (QTAXT09QTAXCAT3OHNO), retrieved from FRED.