State Tax Collections: T40 Individual Income Taxes for Connecticut
QTAXT40QTAXCAT3CTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,636.00
Year-over-Year Change
2.81%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures individual income tax collections for the state of Connecticut, providing insights into state tax revenue and fiscal policy.
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: T40 Individual Income Taxes for Connecticut series tracks the quarterly total of individual income taxes collected by the state government of Connecticut. This metric is a key indicator of the state's fiscal health and an important data point for policymakers and analysts.
Methodology
The data is collected directly from state tax authorities and reported by the U.S. Census Bureau.
Historical Context
This trend is closely monitored by economists, investors, and state government officials to assess economic conditions and guide fiscal decision-making.
Key Facts
- Connecticut's individual income tax collections totaled $3.2 billion in Q4 2022.
- Income taxes account for over 50% of Connecticut's total state tax revenue.
- Individual income tax collections have grown by 8% annually on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly total of individual income taxes collected by the state government of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Connecticut's fiscal health and an important data point for policymakers, economists, and investors to assess the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected directly from Connecticut state tax authorities and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: State income tax collections are closely monitored by government officials to guide fiscal decision-making and budget planning.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for Connecticut (QTAXT40QTAXCAT3CTNO), retrieved from FRED.