State Government Tax Collections, Death and Gift Taxes in the United States
USDTHGFTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,903,139.00
Year-over-Year Change
53.41%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from death and gift taxes in the United States. It provides important insights into state fiscal conditions and tax policy.
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, Death and Gift Taxes in the United States metric tracks the total tax revenue collected by state governments from death and gift taxes. This data is used by economists and policymakers to analyze state fiscal health, tax policy, and wealth transfer trends.
Methodology
The data is collected and reported by the U.S. Census Bureau through its quarterly state and local government finance surveys.
Historical Context
Economists and state governments closely monitor this data to understand wealth transfer patterns and the fiscal impacts of estate and gift taxes.
Key Facts
- Death and gift taxes account for less than 1% of total U.S. state tax revenue.
- 47 states levy a death tax, while 18 states have a gift tax.
- State death tax collections peaked at $7.4 billion in 2002 before declining.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total tax revenue collected by U.S. state governments from death and gift taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into state fiscal health, tax policy, and wealth transfer patterns that are closely monitored by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its quarterly state and local government finance surveys.
Q: How is this trend used in economic policy?
A: Economists and state governments use this data to understand the fiscal impacts of estate and gift taxes and inform related tax and policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a lag, and may not capture all state-level changes in death and gift tax policies.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Death and Gift Taxes in the United States (USDTHGFTAX), retrieved from FRED.