State Government Tax Collections, Motor Vehicle Operators Licenses in Rhode Island
RIMVOPERTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,488.00
Year-over-Year Change
138.39%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures state government tax collections from motor vehicle operator licenses in Rhode Island. It provides insight into consumer demand and economic activity 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 Operators Licenses in Rhode Island metric tracks revenue generated by the state government from issuing and renewing motor vehicle operator licenses. This data point is used by economists and policymakers to monitor consumer behavior and economic conditions in the state.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government tax authorities.
Historical Context
This trend is relevant for analyzing consumer spending patterns and the health of Rhode Island's economy.
Key Facts
- Rhode Island generated $36.4 million in motor vehicle operator license revenue in 2021.
- License fees account for approximately 2.5% of Rhode Island's total state tax collections.
- Motor vehicle operator license revenue has grown by 8.3% annually on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures state government tax collections from motor vehicle operator licenses in Rhode Island. It provides insight into consumer demand and economic activity in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for analyzing consumer spending patterns and the overall health of Rhode Island's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government tax authorities.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to monitor consumer behavior and economic conditions in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Vehicle Operators Licenses in Rhode Island (RIMVOPERTAX), retrieved from FRED.