State Tax Collections: T24 Motor Vehicles License for Utah
QTAXT24QTAXCAT3UTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.00
Year-over-Year Change
34.29%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the total tax collections on motor vehicle licenses in the state of Utah. It provides valuable insights into consumer behavior and transportation-related economic activity.
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: T24 Motor Vehicles License for Utah data series tracks the total tax revenue generated from motor vehicle licensing fees in the state. This metric is used by economists and policymakers to analyze trends in transportation, consumer spending, and state fiscal conditions.
Methodology
The data is collected and reported by the U.S. Census Bureau through state and local government tax surveys.
Historical Context
This trend is closely monitored by transportation planners, revenue forecasters, and state budget analysts.
Key Facts
- Utah's motor vehicle license tax collections totaled $386 million in 2021.
- Motor vehicle license taxes account for 4.7% of Utah's total state tax revenue.
- Vehicle registrations in Utah grew by 3.2% between 2020 and 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Utah from motor vehicle licensing fees.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer behavior, transportation usage, and state fiscal conditions in Utah.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through state and local government tax surveys.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by transportation planners, revenue forecasters, and state budget analysts to inform infrastructure investments and fiscal planning.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Tax Collections: T24 Motor Vehicles License for Utah (QTAXT24QTAXCAT3UTNO), retrieved from FRED.