State Tax Collections: T13 Motor Fuels Sales Tax for Michigan
QTAXT13QTAXCAT3MINO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
374.00
Year-over-Year Change
7.16%
Date Range
1/1/1994 - 1/1/2025
Summary
This series tracks quarterly motor fuels sales tax collections in the state of Michigan. It serves as an important indicator of consumer driving and fuel consumption patterns, which are closely watched by economists and policymakers.
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: T13 Motor Fuels Sales Tax for Michigan measures the total tax revenue generated from the sale of motor fuels, such as gasoline and diesel, within the state of Michigan. This provides insight into broader consumer behavior and economic activity related to transportation and energy consumption.
Methodology
The data is collected by the U.S. Census Bureau through quarterly state tax revenue reports.
Historical Context
Trends in motor fuels tax collections are used by analysts to assess the health of Michigan's economy and consumer spending patterns.
Key Facts
- Michigan's motor fuels sales tax revenue totaled $662 million in Q4 2022.
- Motor fuels sales tax accounts for approximately 10% of Michigan's total state tax collections.
- Quarterly motor fuels tax revenue in Michigan has grown by 8% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total tax revenue collected by the state of Michigan from the sale of motor fuels, such as gasoline and diesel.
Q: Why is this trend relevant for users or analysts?
A: Trends in motor fuels tax collections provide insight into consumer driving patterns, transportation activity, and broader economic conditions within Michigan.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through quarterly state tax revenue reporting.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to assess consumer spending, transportation activity, and the overall health of Michigan's economy.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical 3-month lag between the end of the quarter and the data publication.
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Citation
U.S. Federal Reserve, State Tax Collections: T13 Motor Fuels Sales Tax for Michigan (QTAXT13QTAXCAT3MINO), retrieved from FRED.