State Tax Collections: T28 Occupation and Business License, Not Elsewhere Classified for New York
QTAXT28QTAXCAT3NYNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.00
Year-over-Year Change
8.11%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures state tax collections from occupation and business license taxes in New York, excluding categories classified elsewhere. It provides insight into business activity and tax revenue streams for 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: T28 Occupation and Business License, Not Elsewhere Classified for New York metric tracks tax revenue from business-related licenses and fees collected by the state government. This data point is used to analyze economic conditions and tax policy effectiveness.
Methodology
The data is collected directly from state tax authorities and calculated based on reported occupation and business license tax receipts.
Historical Context
This trend is relevant for assessing the fiscal health and business climate of New York state.
Key Facts
- Occupation and business license taxes account for around 3% of New York's total state tax revenue.
- This tax category excludes more specific license fees like motor vehicle and professional licenses.
- Tax collections in this segment tend to correlate with overall business growth and economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures state tax collections from occupation and business license fees in New York, excluding categories classified elsewhere.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the business climate and fiscal health of New York state, making it relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from New York state tax authorities and calculated based on reported occupation and business license tax receipts.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to assess the broader business environment and tax revenue streams in New York, informing fiscal and economic policy decisions.
Q: Are there update delays or limitations?
A: There may be delays of several months in reporting this data due to the time required for state tax authorities to compile and publish the information.
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Citation
U.S. Federal Reserve, State Tax Collections: T28 Occupation and Business License, Not Elsewhere Classified for New York (QTAXT28QTAXCAT3NYNO), retrieved from FRED.