State Tax Collections: T41 Corporation Net Income Taxes for New Jersey
QTAXT41QTAXCAT3NJNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,974.00
Year-over-Year Change
25.49%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T41 Corporation Net Income Taxes for New Jersey' trend measures the total net income taxes collected from corporations by the state of New Jersey. This data provides insight into the state's business tax revenues and economic conditions.
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
This series tracks the total net income taxes paid by corporations to the state government of New Jersey. It is a key indicator of the overall business climate and profitability within the state, as corporation net income taxes are a significant source of tax revenue.
Methodology
The data is collected and published by the U.S. Census Bureau as part of their quarterly state and local government tax revenue reports.
Historical Context
Policymakers and economists analyze this trend to assess the financial health of New Jersey's businesses and inform decisions around tax policy and economic development initiatives.
Key Facts
- New Jersey collects the 3rd highest corporation net income taxes in the U.S.
- Corporate tax revenues account for over 10% of New Jersey's total state tax collections.
- The state's corporation net income tax rate is currently 9%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total net income taxes collected from corporations by the state government of New Jersey.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the overall business climate and profitability within New Jersey, as corporation net income taxes are a significant source of tax revenue for the state.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau as part of their quarterly state and local government tax revenue reports.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to assess the financial health of New Jersey's businesses and inform decisions around tax policy and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Census Bureau, so there may be a several-month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, State Tax Collections: T41 Corporation Net Income Taxes for New Jersey (QTAXT41QTAXCAT3NJNO), retrieved from FRED.