State Government Tax Collections, Occupation and Business Licenses in Rhode Island
RIBUSLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86,259.00
Year-over-Year Change
82.88%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures state government tax collections from occupation and business licenses in Rhode Island. It provides insights into the state's business activity and revenue generation.
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 Government Tax Collections, Occupation and Business Licenses in Rhode Island' series tracks the tax revenue the state government collects from fees and taxes on various licenses and permits related to business operations and occupations within Rhode Island.
Methodology
The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Government Tax Revenue.
Historical Context
This metric is useful for analyzing Rhode Island's economic conditions and the state government's fiscal health.
Key Facts
- Rhode Island collected $31.3 million in occupation and business license taxes in 2021.
- This revenue source accounts for about 2% of Rhode Island's total state tax collections.
- Occupation and business license taxes have grown by 15% in Rhode Island over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue the state government of Rhode Island collects from fees and taxes on various licenses and permits related to business operations and occupations within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the business activity and fiscal health of the Rhode Island state government, making it useful for analyzing the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Government Tax Revenue.
Q: How is this trend used in economic policy?
A: Policymakers and economists can use this metric to assess the state's business climate, revenue sources, and fiscal stability, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Census Bureau, so there may be a delay of several months before the most recent information is available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Occupation and Business Licenses in Rhode Island (RIBUSLICTAX), retrieved from FRED.