State Tax Collections: T53 Severance Taxes for Idaho
QTAXT53QTAXCAT3IDNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
-100.00%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T53 Severance Taxes for Idaho' trend measures the total amount of severance taxes collected by the state of Idaho. This metric is a key indicator of economic activity and resource extraction 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
Severance taxes are levied on the extraction of natural resources, such as oil, gas, and minerals. The 'T53 Severance Taxes for Idaho' data point tracks the total revenue generated from these taxes, providing insights into the state's resource-based industries and economic performance.
Methodology
The data is collected and reported by the U.S. Census Bureau as part of their quarterly state tax collection survey.
Historical Context
Severance tax data is closely monitored by policymakers, analysts, and industry stakeholders to assess the health of Idaho's resource extraction sectors and inform economic and fiscal policy decisions.
Key Facts
- Idaho levies severance taxes on the extraction of oil, natural gas, and various minerals.
- Severance tax revenues account for a significant portion of Idaho's total state tax collections.
- Fluctuations in severance tax receipts can signal changes in the state's resource-based industries.
FAQs
Q: What does this economic trend measure?
A: The 'State Tax Collections: T53 Severance Taxes for Idaho' trend measures the total amount of severance taxes collected by the state of Idaho, which are levied on the extraction of natural resources such as oil, gas, and minerals.
Q: Why is this trend relevant for users or analysts?
A: Severance tax data provides insights into the health and activity of Idaho's resource-based industries, which is crucial information for policymakers, economists, and industry stakeholders when assessing the state's economic performance and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of their quarterly state tax collection survey.
Q: How is this trend used in economic policy?
A: Severance tax data is closely monitored by policymakers, analysts, and industry stakeholders to assess the health of Idaho's resource extraction sectors and inform economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The severance tax data is published on a quarterly basis, with potential delays in reporting due to the collection and processing timelines of the U.S. Census Bureau.
Related Trends
State Tax Collections: T99 Taxes, Not Elsewhere Classified for West Virginia
QTAXT99QTAXCAT3WVNO
State Tax Collections: T50 Death and Gift Taxes for West Virginia
QTAXT50QTAXCAT3WVNO
Individual Income Tax Filing: Excess American Opportunity Credit (Refundable)
RFAOCTEAOCA
Individual Income Tax Filing: Returns of Surviving Spouses
RTSVSS
Poverty Tax Exemptions for Indiana
PEXMIN18A647NCEN
State Tax Collections: T22 Corporations in General License for Hawaii
QTAXT22QTAXCAT3HINO
Citation
U.S. Federal Reserve, State Tax Collections: T53 Severance Taxes for Idaho (QTAXT53QTAXCAT3IDNO), retrieved from FRED.