State Tax Collections: T12 Insurance Premiums Sales Tax for Washington
QTAXT12QTAXCAT3WANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
204.00
Year-over-Year Change
18.60%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T12 Insurance Premiums Sales Tax for Washington' series tracks sales tax revenue from insurance premiums in the state of Washington.
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
This data series represents the quarterly state tax collections from the insurance premiums sales tax in Washington. It is a key indicator of economic activity and consumer spending in the insurance sector within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Policymakers and economists use this data to monitor the health of Washington's insurance industry and consumer market.
Key Facts
- Washington levies a sales tax on insurance premiums.
- The tax rate is currently 2% of premiums.
- Insurance is a major industry in the state.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the quarterly state tax revenue collected from the insurance premiums sales tax in Washington.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the activity and health of Washington's insurance industry and consumer spending on insurance products.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to monitor the insurance sector and consumer market in Washington.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a typical 3-month lag.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Washington (QTAXT12QTAXCAT3WANO), retrieved from FRED.