State Tax Collections: T12 Insurance Premiums Sales Tax for North Dakota
QTAXT12QTAXCAT3NDNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.00
Year-over-Year Change
-3.57%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the tax collections on insurance premiums sales in the state of North Dakota. It provides valuable insights into the state's fiscal health and revenue sources.
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 North Dakota tracks the revenue generated from the taxation of insurance premiums sold within the state. This metric is important for analyzing a state's tax structure, economic activity, and overall fiscal position.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly State and Local Government Tax Revenue survey.
Historical Context
Policymakers and analysts use this trend to understand North Dakota's tax policies and their impact on the insurance industry and broader economy.
Key Facts
- North Dakota's T12 insurance premiums sales tax collections totaled $31.7 million in Q4 2022.
- This tax represents approximately 3.2% of North Dakota's total state tax revenue.
- The insurance premiums sales tax has grown by 7.8% annually on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax collections on insurance premiums sales in the state of North Dakota. It tracks revenue from this specific tax source.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into North Dakota's fiscal health and revenue structure, which is valuable for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly State and Local Government Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand North Dakota's tax policies and their impact on the insurance industry and broader economy.
Q: Are there update delays or limitations?
A: This data is published quarterly with a typical 3-month lag between the end of the reference period and the release of the estimates.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for North Dakota (QTAXT12QTAXCAT3NDNO), retrieved from FRED.