State Tax Collections: T41 Corporation Net Income Taxes for Utah
QTAXT41QTAXCAT3UTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82.00
Year-over-Year Change
-44.22%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures corporation net income tax collections for the state of Utah. It provides insight into the financial health and economic activity of corporations operating within the state.
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 Corporation Net Income Taxes for Utah metric tracks the total amount of net income taxes paid by corporations to the Utah state government. This data point is a key indicator of corporate profitability and can be used to analyze the overall business climate and tax revenue in the state.
Methodology
The data is collected by the U.S. Census Bureau through state-level tax revenue reporting.
Historical Context
This metric is closely monitored by policymakers, economists, and investors to assess Utah's economic conditions and tax policy.
Key Facts
- Utah has no personal income tax.
- Corporate net income taxes account for ~5% of Utah's total tax revenue.
- The top corporate tax rate in Utah is 4.85%.
FAQs
Q: What does this economic trend measure?
A: This metric measures the net income taxes paid by corporations to the state government of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the overall financial health and economic activity of corporations operating in Utah, which is relevant for policymakers, investors, and economists analyzing the state's business climate.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through state-level tax revenue reporting.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by Utah policymakers to assess the state's tax revenue and overall economic conditions, which can inform decisions on tax policy and economic development initiatives.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and availability due to the time required for state-level tax collection and Census Bureau processing.
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Citation
U.S. Federal Reserve, State Tax Collections: T41 Corporation Net Income Taxes for Utah (QTAXT41QTAXCAT3UTNO), retrieved from FRED.