State Tax Collections: T22 Corporations in General License for North Carolina
QTAXT22QTAXCAT3NCNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
170.00
Year-over-Year Change
3.66%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures corporate tax collections in North Carolina, providing insight into the state's fiscal health and business climate.
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: T22 Corporations in General License for North Carolina metric tracks the quarterly revenue generated by the state's general corporate license tax. This data offers economists and policymakers a gauge of economic activity and corporate profitability within the state.
Methodology
The data is collected and reported by the North Carolina Department of Revenue.
Historical Context
Corporate tax revenues are a key input for state budget planning and economic analysis.
Key Facts
- North Carolina has a 2.5% corporate income tax rate.
- Corporate tax collections account for 15% of the state's total tax revenue.
- Quarterly corporate tax payments are due in April, June, September, and December.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly corporate tax collections for the state of North Carolina, which include revenue from the general corporate license tax.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the financial health and economic activity of businesses operating in North Carolina, which is valuable for state budget planning, economic forecasting, and investment analysis.
Q: How is this data collected or calculated?
A: The data is collected and reported by the North Carolina Department of Revenue, which tracks corporate tax payments made to the state.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the state's business climate, monitor economic conditions, and inform decisions around fiscal policy, taxation, and budget allocations.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Tax Collections: T22 Corporations in General License for North Carolina (QTAXT22QTAXCAT3NCNO), retrieved from FRED.