State Government Tax Collections, Motor Vehicle Operators Licenses in South Carolina
SCMVOPERTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,714.00
Year-over-Year Change
123.45%
Date Range
1/1/1951 - 1/1/2024
Summary
The 'State Government Tax Collections, Motor Vehicle Operators Licenses in South Carolina' series measures the revenue collected by the South Carolina government from taxes on motor vehicle operators' licenses. This data provides insights into the state's transportation-related tax burden and revenue streams.
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
This economic indicator tracks the tax revenue collected by the South Carolina state government from the licensing of motor vehicle operators. It represents an important component of the state's overall tax collections and can be used to analyze trends in transportation-related taxation and funding.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government tax revenue sources.
Historical Context
Policymakers and analysts use this data to evaluate the state's transportation funding and make informed decisions about infrastructure investments and tax policies.
Key Facts
- South Carolina collected $56.2 million in motor vehicle operators license taxes in 2021.
- Motor vehicle operators license taxes accounted for 1.7% of South Carolina's total state tax revenue in 2021.
- The state's motor vehicle operators license tax revenue has grown by 16% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the South Carolina state government from the licensing of motor vehicle operators.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the state's transportation-related tax burden and revenue streams, which is useful for policymakers and analysts evaluating infrastructure investments and tax policies.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government tax revenue sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to evaluate the state's transportation funding and make informed decisions about infrastructure investments and tax policies.
Q: Are there update delays or limitations?
A: The data is updated annually with a delay of several months, so it may not reflect the most recent fiscal year.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Vehicle Operators Licenses in South Carolina (SCMVOPERTAX), retrieved from FRED.