State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Rhode Island
RIINSURTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
171,801.00
Year-over-Year Change
84.10%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections on insurance premiums from selective sales taxes in Rhode Island. It provides insight into a key revenue source for state governments.
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 RIINSURTAX series tracks state government tax collections on insurance premiums from selective sales taxes in Rhode Island. This data is used by economists and policymakers to analyze state fiscal conditions and the insurance industry's economic impact.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This trend is relevant for understanding state tax policy and the insurance sector's role in state economies.
Key Facts
- Rhode Island collected over $100 million in insurance premiums taxes in 2021.
- Selective sales taxes on insurance premiums account for about 4% of Rhode Island's total state tax revenue.
- The insurance industry is a major employer and economic driver in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This trend measures state government tax collections on insurance premiums from selective sales taxes in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into a key revenue source for state governments and the economic impact of the insurance industry.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding state tax policy and the insurance sector's role in state economies.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months, and may not capture all tax collections or changes in state policies.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Rhode Island (RIINSURTAX), retrieved from FRED.