State Government Tax Collections, Motor Vehicle Licenses in Rhode Island
RIMOTOLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,002.00
Year-over-Year Change
-79.96%
Date Range
1/1/1951 - 1/1/2024
Summary
This trend measures state government tax collections from motor vehicle licenses in Rhode Island. It provides insights into transportation infrastructure funding and consumer behavior in 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
The State Government Tax Collections, Motor Vehicle Licenses in Rhode Island metric tracks the total revenue collected by the Rhode Island government from taxes and fees related to motor vehicle registrations and licenses. This data is useful for analyzing transportation funding, vehicle ownership trends, and the economic health of the state.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finances.
Historical Context
Policymakers and transportation planners use this data to inform decisions about infrastructure investment, tax policies, and vehicle regulation.
Key Facts
- Rhode Island collected $78.5 million in motor vehicle license taxes in 2020.
- Motor vehicle license taxes account for about 4% of Rhode Island's total state tax revenue.
- Rhode Island's motor vehicle license tax collections have grown by 18% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state government of Rhode Island from motor vehicle registration and licensing fees.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into transportation infrastructure funding, consumer vehicle ownership, and the overall economic health of Rhode Island.
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: Policymakers and transportation planners use this data to inform decisions about infrastructure investment, tax policies, and vehicle regulation.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, typically 6-12 months after the end of the fiscal year.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Vehicle Licenses in Rhode Island (RIMOTOLICTAX), retrieved from FRED.