State Tax Collections: T09 General Sales and Gross Receipts Taxes for Virginia
QTAXT09QTAXCAT3VANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,809.00
Year-over-Year Change
3.43%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures general sales and gross receipts tax collections for the state of Virginia. It provides insight into consumer spending and economic activity within 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 Virginia metric tracks the total amount of general sales and gross receipts taxes collected by the Virginia state government. This data is a key indicator of economic conditions and consumer demand within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state and local tax authorities.
Historical Context
Policymakers and economists use this data to assess the overall health of Virginia's economy and consumer sector.
Key Facts
- Virginia's general sales tax rate is 4.15%.
- Sales tax accounts for over 40% of Virginia's total tax revenue.
- Virginia's sales tax collections have grown by 25% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of general sales and gross receipts taxes collected by the Virginia state government.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending and economic activity within Virginia, which is relevant for policymakers, businesses, and economists analyzing the state's economy.
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 tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the overall health of Virginia's economy and consumer sector, which can inform fiscal and regulatory 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 Virginia (QTAXT09QTAXCAT3VANO), retrieved from FRED.