State Tax Collections: T12 Insurance Premiums Sales Tax for Connecticut
QTAXT12QTAXCAT3CTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.00
Year-over-Year Change
17.71%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures quarterly state tax collections from the insurance premiums sales tax in Connecticut. It provides insight into the state's tax revenue from this important industry.
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 Connecticut series tracks the state's quarterly revenue from the tax levied on insurance premiums. This metric offers economists and policymakers data on a key component of Connecticut's tax base and fiscal health.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state and local government finances.
Historical Context
Monitoring this insurance premiums tax revenue helps inform economic and fiscal policy decisions in Connecticut.
Key Facts
- Connecticut levies a 1% tax on insurance premiums.
- Insurance is a major industry in Connecticut.
- This tax revenue funds a portion of the state budget.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly tax revenue collected by the state of Connecticut from the 1% tax on insurance premiums.
Q: Why is this trend relevant for users or analysts?
A: Tracking this insurance premiums tax revenue provides insight into a key component of Connecticut's fiscal health and tax base.
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 government finances.
Q: How is this trend used in economic policy?
A: Monitoring this insurance premiums tax revenue helps inform economic and fiscal policy decisions in Connecticut.
Q: Are there update delays or limitations?
A: There may be lags in data reporting due to the survey-based collection methodology.
Related Trends
State Tax Collections: T51 Documentary and Stock Transfer Taxes for Delaware
QTAXT51QTAXCAT3DENO
State Tax Collections: T12 Insurance Premiums Sales Tax for Washington
QTAXT12QTAXCAT3WANO
State Tax Collections: T13 Motor Fuels Sales Tax for New Jersey
QTAXT13QTAXCAT3NJNO
State Tax Collections: T15 Public Utilities Sales Tax for District of Columbia
QTAXT15QTAXCAT3DCNO
Individual Income Tax Filing: Adjusted Gross Income (AGI)
AGICM
Poverty Tax Exemptions Under Age 65 for Florida
PLT65EXMFL12A647NCEN
Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Connecticut (QTAXT12QTAXCAT3CTNO), retrieved from FRED.