State Government Tax Collections, Total Other Taxes in the United States
USTLOTHTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54,115,585.00
Year-over-Year Change
81.38%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total other tax collections by U.S. state governments, excluding major revenue sources like sales and income taxes. It provides insights into the diverse revenue streams used to fund state-level public services and programs.
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, Total Other Taxes series tracks tax revenues collected by U.S. state governments from sources such as motor vehicle licenses, property transfers, severance taxes, and various other fees and levies. This data offers a comprehensive view of the non-traditional revenue sources that supplement states' fiscal resources.
Methodology
The data is collected through the U.S. Census Bureau's Annual Survey of State and Local Government Finances.
Historical Context
This economic indicator is widely used by policymakers, analysts, and researchers to assess the overall fiscal health and policy environment in each state.
Key Facts
- Total other state taxes account for about 15% of total state tax collections.
- Motor vehicle licenses are the largest component of 'total other taxes'.
- State tax collections have grown by over 30% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by U.S. state governments from sources other than major taxes like sales and income taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the diverse revenue streams used to fund state-level public services and programs, offering a comprehensive view of state fiscal health and policy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Annual Survey of State and Local Government Finances.
Q: How is this trend used in economic policy?
A: This indicator is widely used by policymakers, analysts, and researchers to assess the overall fiscal health and policy environment in each U.S. state.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of several months, and may not capture all state-level tax changes in real-time.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Other Taxes in the United States (USTLOTHTAX), retrieved from FRED.