State Government Tax Collections, Motor Vehicle Licenses in South Dakota
SDMOTOLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100,827.00
Year-over-Year Change
55.81%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures state government tax collections from motor vehicle licenses in South Dakota. It is an important indicator of transportation activity and consumer spending 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 South Dakota series tracks the revenue generated by the state government from taxes and fees on motor vehicle registrations and licenses. This data provides insights into transportation and consumer demand trends in the state's economy.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government finance.
Historical Context
Policymakers and economists use this trend to assess the strength of consumer spending and commercial activity in South Dakota.
Key Facts
- South Dakota collected $58.2 million in motor vehicle license taxes in 2021.
- This represented a 4.7% increase from the previous year.
- Motor vehicle license taxes account for around 3% of South Dakota's total state tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the revenue collected by the South Dakota state government from taxes and fees on motor vehicle registrations and licenses.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into transportation activity and consumer spending patterns in South Dakota's economy, which are important for policymakers and economists to monitor.
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 finance.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the strength of consumer spending and commercial activity in South Dakota, which can inform decisions around transportation infrastructure investment and tax policy.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically a few months after the end of the reporting period. There may also be revisions to previously reported figures.
Related Trends
State Government Tax Collections, Total Selective Sales Taxes in South Dakota
SDTLSLTAX
Real Gross Domestic Product: Private Industries in South Dakota
SDPIRGSP
90% Confidence Interval Upper Bound of Estimate of Percent of People Under Age 5 in Poverty for South Dakota
PPCIUB0T4SD46000A156NCEN
Personal Consumption Expenditures: Services: Transportation Services for South Dakota
SDPCETRANS
Number of Identified Exporters to Netherlands from South Dakota
SDNLDA475SCEN
Mean Adjusted Gross Income for South Dakota
MEANAGISD46A052NCEN
Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Vehicle Licenses in South Dakota (SDMOTOLICTAX), retrieved from FRED.