State Tax Collections: T12 Insurance Premiums Sales Tax for Alabama
QTAXT12QTAXCAT3ALNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
144.00
Year-over-Year Change
48.45%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend tracks quarterly state tax collections from the sales tax on insurance premiums in Alabama. It provides insight into the state's insurance industry and tax revenue.
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: T12 Insurance Premiums Sales Tax for Alabama measures the revenue generated from the sales tax on insurance premiums paid by individuals and businesses within the state. This metric offers economists and policymakers a gauge of activity in Alabama's insurance sector and its contribution to the state's fiscal position.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
Monitoring this trend can help inform state budgeting, economic forecasting, and policy decisions related to the insurance industry.
Key Facts
- Alabama charges a 4% sales tax on insurance premiums.
- Insurance sales tax collections account for around 5% of Alabama's total state tax revenue.
- The insurance industry employs over 25,000 people in Alabama.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the quarterly state tax collections from the sales tax on insurance premiums paid in Alabama.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this trend provides insight into the performance of Alabama's insurance industry and its contribution to the state's tax revenue, which is valuable for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend can inform state budgeting, economic forecasting, and policy decisions related to the insurance industry in Alabama.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Alabama (QTAXT12QTAXCAT3ALNO), retrieved from FRED.