State Tax Collections: T15 Public Utilities Sales Tax for Minnesota
QTAXT15QTAXCAT3MNNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.00
Year-over-Year Change
5.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures state tax collections from the public utilities sales tax in Minnesota. It provides insights into consumer demand and state revenue from this key 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: T15 public utilities sales tax for Minnesota metric tracks tax revenue generated from the sale of public utilities services, such as electricity, gas, and water, within the state. This data point is used by economists and policymakers to analyze consumer spending patterns and the financial health of the state's public utilities sector.
Methodology
The data is collected and reported by the U.S. Census Bureau through state tax revenue surveys.
Historical Context
This trend is closely monitored by state budget officials and utilities regulators to understand economic conditions and revenue projections.
Key Facts
- Minnesota's public utilities sales tax collections totaled $1.2 billion in 2021.
- The tax rate on public utilities services in Minnesota is 6.875%.
- Public utilities account for approximately 15% of Minnesota's total state tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state of Minnesota from the sale of public utilities services, such as electricity, gas, and water.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into consumer demand and spending patterns in the public utilities sector, as well as the financial health of this industry and the state's tax revenue.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through state tax revenue surveys.
Q: How is this trend used in economic policy?
A: State budget officials and utilities regulators closely monitor this trend to understand economic conditions and revenue projections, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a delay of several months.
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Citation
U.S. Federal Reserve, State Tax Collections: T15 Public Utilities Sales Tax for Minnesota (QTAXT15QTAXCAT3MNNO), retrieved from FRED.