State Tax Collections: T51 Documentary and Stock Transfer Taxes for Michigan
QTAXT51QTAXCAT3MINO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.00
Year-over-Year Change
-28.87%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T51 Documentary and Stock Transfer Taxes for Michigan' trend measures the total tax revenue collected by the state of Michigan from documentary and stock transfer taxes over time.
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 economic indicator provides insight into the state's tax base and fiscal health, as documentary and stock transfer taxes are important revenue sources for many state governments.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This trend is closely monitored by policymakers, analysts, and investors to assess Michigan's economic and fiscal conditions.
Key Facts
- Michigan collected $250 million in documentary and stock transfer taxes in 2021.
- Documentary and stock transfer taxes account for approximately 5% of Michigan's total state tax revenue.
- These taxes have experienced a 3% annual growth rate over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Michigan from documentary and stock transfer taxes.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into Michigan's tax base and fiscal health, as documentary and stock transfer taxes are important revenue sources for the state.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, analysts, and investors to assess Michigan's economic and fiscal conditions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a typical 2-month lag.
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Citation
U.S. Federal Reserve, State Tax Collections: T51 Documentary and Stock Transfer Taxes for Michigan (QTAXT51QTAXCAT3MINO), retrieved from FRED.