State Tax Collections: T09 General Sales and Gross Receipts Taxes for South Dakota
QTAXT09QTAXCAT3SDNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
389.00
Year-over-Year Change
7.76%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the total sales and gross receipts tax collections by the state government of South Dakota. It provides insight into consumer spending and state fiscal conditions.
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 South Dakota series tracks the revenue generated from sales and gross receipts taxes levied by the state. This is a key indicator of economic activity and a major source of state government funding.
Methodology
The data is collected and reported by the U.S. Census Bureau based on state government tax collection records.
Historical Context
Policymakers and analysts use this data to assess South Dakota's fiscal health and economic performance.
Key Facts
- South Dakota has no state personal income tax.
- Sales tax accounts for over 60% of South Dakota's state tax revenue.
- The state sales tax rate is 4.5%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue collected by the state government of South Dakota from general sales and gross receipts taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending patterns and state fiscal conditions in South Dakota, which is important 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 based on state government tax collection records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess South Dakota's fiscal health and economic performance, which informs tax, spending, and regulatory decisions.
Q: Are there update delays or limitations?
A: The data is released 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 South Dakota (QTAXT09QTAXCAT3SDNO), retrieved from FRED.