State Tax Collections: T41 Corporation Net Income Taxes for Connecticut
QTAXT41QTAXCAT3CTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,081.00
Year-over-Year Change
-15.48%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures corporation net income tax collections for the state of Connecticut. It provides insights into the state's business environment and tax revenue generation.
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: T41 Corporation Net Income Taxes for Connecticut series tracks the net income taxes paid by corporations to the state government. This metric reflects the overall profitability and tax burden of businesses operating in Connecticut.
Methodology
The data is collected by the U.S. Census Bureau through state government tax revenue reports.
Historical Context
Policymakers and economists use this trend to assess Connecticut's fiscal health and the performance of its corporate sector.
Key Facts
- Connecticut collected $1.2 billion in corporation net income taxes in 2021.
- This trend has shown volatility, with collections declining during economic downturns.
- Corporation net income taxes account for around 10% of Connecticut's total tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the net income taxes paid by corporations to the state government of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the profitability and tax burden of businesses operating in Connecticut, which is relevant for assessing the state's fiscal health and economic environment.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through state government tax revenue reports.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate Connecticut's corporate sector performance and its impact on the state's fiscal position.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions by the Census Bureau.
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Citation
U.S. Federal Reserve, State Tax Collections: T41 Corporation Net Income Taxes for Connecticut (QTAXT41QTAXCAT3CTNO), retrieved from FRED.