State Tax Collections: T12 Insurance Premiums Sales Tax for Iowa
QTAXT12QTAXCAT3IANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.00
Year-over-Year Change
312.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures Iowa's quarterly tax collections from the sales tax on insurance premiums. It is an important indicator of the state's insurance industry activity 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 Iowa tracks the total tax revenue the state collects from the sales tax levied on insurance premiums. This data provides insights into the health and growth of Iowa's insurance sector, which is a key part of the state's economy.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
This trend is used by policymakers, economists, and analysts to monitor Iowa's insurance industry and assess the state's fiscal health.
Key Facts
- Iowa collects a sales tax on insurance premiums.
- The tax rate is currently 6 percent.
- Insurance is a major industry in Iowa's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total quarterly tax revenue collected by the state of Iowa from the sales tax on insurance premiums.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of Iowa's insurance industry, which is an important part of the state's economy. It is useful for policymakers, economists, and market analysts.
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: Policymakers and economists use this trend to monitor the insurance industry's contribution to Iowa's tax revenue and overall fiscal health. It informs decisions about economic development, taxation, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is released quarterly, so there may be a delay of several months before the latest figures are available. The trend only covers the state of Iowa and does not include data for other states.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Iowa (QTAXT12QTAXCAT3IANO), retrieved from FRED.