State Government Tax Collections, Corporation Net Income Taxes in the United States
USCORPINCTX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
166,539,393.00
Year-over-Year Change
299.22%
Date Range
1/1/1902 - 1/1/2024
Summary
The 'State Government Tax Collections, Corporation Net Income Taxes' trend measures the total amount of net income taxes collected by U.S. state governments. It is an important indicator of economic activity and corporate profitability.
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 data series tracks state-level corporate income tax revenue, which is a key source of funding for state governments. It provides insights into the financial health of businesses and can signal broader economic trends at the state level.
Methodology
The data is collected and published by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Historical Context
Policymakers and analysts monitor this trend to assess the fiscal position of state governments and make informed decisions about spending, taxation, and economic development policies.
Key Facts
- Corporate income taxes make up around 5% of total state tax revenue.
- This trend reached a low point during the 2008-2009 recession.
- State corporate tax rates range from 0% to 12% across the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of net income taxes collected by U.S. state governments from corporations operating within their borders.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the financial health of businesses and can signal broader economic trends at the state level, which is useful for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the fiscal position of state governments and make informed decisions about spending, taxation, and economic development policies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a typical 3-month lag, and may be subject to revisions as more complete information becomes available.
Related Trends
Real Government Consumption Expenditures and Gross Investment: Government: Economic affairs: Space
W595RL1A225NBEA
Taxes on production and imports: Local government: Sales taxes
A1667C1A027NBEA
Net government saving: State and local
A924RC1A027NBEA
Federal government current receipts: Income receipts on assets
W009RC1Q027SBEA
Real federal government consumption expenditures: Defense consumption expenditures: Gross output of general government: Value added: Compensation of general government employees
B237RX1Q020SBEA
Local government current receipts: Income receipts on assets: Rents and royalties
W844RC1A027NBEA
Citation
U.S. Federal Reserve, State Government Tax Collections, Corporation Net Income Taxes in the United States (USCORPINCTX), retrieved from FRED.