State Government Tax Collections, Other License Taxes in Utah
UTOTHLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,712.00
Year-over-Year Change
113.04%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from other license taxes in Utah. It provides insights into the state's revenue sources and fiscal health.
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, Other License Taxes in Utah trend represents the total amount of tax revenue collected by the Utah state government from various license taxes, excluding motor vehicle license taxes. This data is used by economists and policymakers to analyze Utah's fiscal position and tax structure.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This trend is relevant for understanding Utah's tax policy and economic conditions.
Key Facts
- Utah's other license tax collections totaled $295 million in 2021.
- This revenue source accounts for about 3% of Utah's total state tax collections.
- Other license taxes include fees for professional licenses, hunting/fishing licenses, and various business permits.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of tax revenue collected by the Utah state government from various license taxes, excluding motor vehicle license taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Utah's fiscal health and tax structure, which is important for economists and policymakers analyzing the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand Utah's tax policy and its impact on the state's overall economic conditions.
Q: Are there update delays or limitations?
A: The data is typically updated on an annual basis, with some potential for delays in data reporting.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Other License Taxes in Utah (UTOTHLICTAX), retrieved from FRED.