State Government Tax Collections, Individual Income Taxes in Tennessee
TNINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,123.00
Year-over-Year Change
-98.84%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures individual income tax collections by the state government of Tennessee. It provides insights into the state's tax revenue and economic conditions.
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, Individual Income Taxes in Tennessee series tracks the total amount of individual income taxes collected by the Tennessee state government. This data point is a key indicator of the state's fiscal health and economic performance.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This trend is closely monitored by state policymakers and analysts to assess Tennessee's economic and budgetary conditions.
Key Facts
- Tennessee does not have a state sales tax.
- Individual income taxes account for over 40% of Tennessee's state tax revenue.
- Tennessee's individual income tax collections have grown by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of individual income taxes collected by the state government of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Tennessee's fiscal health and economic conditions, which is relevant for state policymakers, analysts, and residents.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: State policymakers and analysts closely monitor this trend to assess Tennessee's budgetary conditions and make informed decisions about fiscal policy.
Q: Are there update delays or limitations?
A: The data is typically published with a few months' delay, and may be subject to revisions by the Census Bureau.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Individual Income Taxes in Tennessee (TNINCTAX), retrieved from FRED.