State Tax Collections: Total Taxes for Mississippi
QTAXTOTALQTAXCAT3MSNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,522.00
Year-over-Year Change
10.42%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic indicator measures the total tax collections by the state government of Mississippi. It is a key metric for policymakers to assess the state's fiscal health and revenue trends.
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 Mississippi series tracks the aggregate tax revenue received by the state government, including income, sales, property, and other taxes. This data provides insight into the overall tax burden and the state's ability to fund public services and programs.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
Analysts and policymakers use this metric to evaluate Mississippi's economic and fiscal conditions.
Key Facts
- Mississippi collected $6.3 billion in total taxes in 2020.
- Tax collections account for over 90% of the state's general fund revenue.
- Sales tax is the largest source of tax revenue for Mississippi.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: Total Taxes for Mississippi series tracks the aggregate tax revenue received by the state government, including income, sales, property, and other taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Mississippi's fiscal health and revenue trends, which is critical information for policymakers, analysts, and investors.
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: Analysts and policymakers use this metric to evaluate Mississippi's economic and fiscal conditions, which informs decision-making on budgets, spending, and tax policies.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a several-month delay in the most recent figures.
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Citation
U.S. Federal Reserve, State Tax Collections: Total Taxes for Mississippi (QTAXTOTALQTAXCAT3MSNO), retrieved from FRED.