State Government Tax Collections, Total Taxes in South Dakota
SDTOTLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,678,432.00
Year-over-Year Change
75.99%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total Taxes in South Dakota' metric tracks the total tax revenue collected by the South Dakota state government. This data point is a key indicator of the state's fiscal health and economic activity.
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 series measures the total tax revenue collected by the government of South Dakota, including individual income taxes, sales and gross receipts taxes, and other state-level taxes. It provides insight into the state's fiscal position and can inform policy decisions around budgeting, taxation, and economic development.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state and local government finances.
Historical Context
Policymakers and analysts use this metric to assess South Dakota's economic performance and fiscal stability over time.
Key Facts
- South Dakota has no state personal income tax.
- The state relies heavily on sales and use taxes for revenue.
- Tax collections have grown steadily in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total tax revenue collected by the government of South Dakota, including individual income taxes, sales taxes, and other state-level taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into South Dakota's fiscal health and economic activity, which is useful for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state and local government finances.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess South Dakota's economic performance and fiscal stability over time, which can inform decisions around budgeting, taxation, and economic development.
Q: Are there update delays or limitations?
A: There may be some lag in the reporting of this data, as it is collected through government surveys.
Related Trends
Total Wages and Salaries in South Dakota
SDWTOT
Pandemic Unemployment Assistance Initial Claims in South Dakota
PUAICSD
Coefficient for Industrial Carbon Dioxide Emissions, Asphalt and Road Oil for South Dakota
EMISSCO2CARICBSDA
Real Per Capita Personal Income: Nonmetropolitan Portion for South Dakota
SDNMPRPIPC
Gross Domestic Product: Military in South Dakota
SDGOVFEDMILNGSP
Estimated Percent of People Under Age 5 in Poverty for South Dakota
PP0T4SD46000A156NCEN
Citation
U.S. Federal Reserve, State Government Tax Collections, Total Taxes in South Dakota (SDTOTLTAX), retrieved from FRED.