State Tax Collections: T41 Corporation Net Income Taxes for West Virginia
QTAXT41QTAXCAT3WVNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50.00
Year-over-Year Change
163.16%
Date Range
1/1/1994 - 1/1/2025
Summary
This data series tracks corporate net income tax collections for the state of West Virginia. It provides insight into the financial health and economic activity of businesses operating in 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 State Tax Collections: T41 Corporation Net Income Taxes for West Virginia measures the total net income taxes paid by corporations to the West Virginia state government. This metric is used by economists and policymakers to assess the profitability and investment climate for businesses in the state.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
This trend is relevant for analyzing the tax burden, fiscal policy, and overall business conditions in West Virginia.
Key Facts
- West Virginia's corporate net income tax rate is 6.5%.
- Quarterly corporate tax collections averaged $75 million in 2021.
- Tax collections declined during the COVID-19 pandemic but have since rebounded.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total net income taxes paid by corporations to the state government of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the profitability and investment climate for businesses operating in West Virginia, which is useful for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is relevant for analyzing the tax burden, fiscal policy, and overall business conditions in West Virginia.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, State Tax Collections: T41 Corporation Net Income Taxes for West Virginia (QTAXT41QTAXCAT3WVNO), retrieved from FRED.