State Tax Collections: Total Taxes for Connecticut
QTAXTOTALQTAXCAT3CTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,184.00
Year-over-Year Change
-2.98%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures the total state tax collections in Connecticut. It is an important indicator of Connecticut's fiscal health and revenue sources for policymakers.
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: Total Taxes for Connecticut series tracks the total tax revenue collected by the state government of Connecticut from various sources, including personal income tax, sales tax, corporate income tax, and other state-level taxes.
Methodology
The data is collected and published by the U.S. Census Bureau.
Historical Context
This metric is closely watched by state and local officials, as well as financial markets, to assess Connecticut's budgetary position and economic performance.
Key Facts
- Connecticut collects over $20 billion in total state taxes annually.
- Sales tax accounts for the largest share of Connecticut's state tax revenue.
- State tax collections in Connecticut have grown by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the total amount of state tax revenue collected by the government of Connecticut from various sources, including personal income tax, sales tax, and corporate income tax.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of Connecticut's fiscal health and revenue sources, which is closely monitored by state and local officials, as well as financial markets.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: State tax collection data is used by policymakers in Connecticut to assess the state's budgetary position and make informed decisions about fiscal policy, taxation, and spending.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Census Bureau, with a typical delay of several months between the end of the reference period and the release of the data.
Related Trends
Individual Income Tax Filing: Itemized Deductions: Home Mortgage Interest Paid
IMZIPHMIPA
Individual Income Tax Filing: Earned Income Credit
ENINCCTA
Individual Income Tax Filing: Taxable Social Security Benefits
SSBAGIA
Poverty Tax Exemptions Under Age 65 for New Hampshire
PLT65EXMNH33A647NCEN
State Tax Collections: T53 Severance Taxes for Wisconsin
QTAXT53QTAXCAT3WINO
Individual Income Tax Filing: Adjusted Gross Income (AGI): Estate or Trust Net Loss
ETTNLSA
Citation
U.S. Federal Reserve, State Tax Collections: Total Taxes for Connecticut (QTAXTOTALQTAXCAT3CTNO), retrieved from FRED.