State Tax Collections: T09 General Sales and Gross Receipts Taxes for Tennessee
QTAXT09QTAXCAT3TNNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,565.00
Year-over-Year Change
13.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures general sales and gross receipts tax collections in the state of Tennessee. It provides important insights into consumer spending and state tax revenue generation.
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 Tennessee' metric tracks the total value of sales taxes and other transaction-based levies collected by the Tennessee state government. This data series is widely used by economists and policymakers to analyze consumption patterns and evaluate the fiscal health of the state.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau through surveys of state tax agencies.
Historical Context
This trend is closely monitored by economists, investors, and state officials to assess the strength of Tennessee's economy and plan budgetary and tax policies accordingly.
Key Facts
- Tennessee has no state personal income tax.
- Sales tax accounts for over 60% of Tennessee's state tax revenue.
- The state's general sales tax rate is 7%, one of the highest in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of general sales and gross receipts taxes collected by the state government of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into consumer spending patterns and the fiscal health of the Tennessee state government.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau through surveys of state tax agencies.
Q: How is this trend used in economic policy?
A: Economists, investors, and state officials closely monitor this trend to assess the strength of Tennessee's economy and plan budgetary and tax policies accordingly.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be delays in reflecting 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 Tennessee (QTAXT09QTAXCAT3TNNO), retrieved from FRED.