State Government Tax Collections, Total Sales and Gross Receipts Taxes in Utah
UTSLGRTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,719,110.00
Year-over-Year Change
110.10%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total sales and gross receipts tax collections by the state government of Utah. It is an important indicator of consumer spending and economic activity in the state.
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 Sales and Gross Receipts Taxes in Utah data series tracks the total revenue collected by the Utah state government from sales and gross receipts taxes. This metric is a key barometer of consumer demand and overall economic conditions within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This trend is closely monitored by state policymakers, economists, and businesses to assess the health of Utah's economy.
Key Facts
- Utah has no state personal income tax.
- Sales tax accounts for over 50% of Utah's state tax revenue.
- Utah's sales tax rate is 4.85% as of 2023.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total sales and gross receipts tax revenue collected by the Utah state government.
Q: Why is this trend relevant for users or analysts?
A: It is an important indicator of consumer spending and overall economic activity within the state of Utah.
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, economists, and businesses closely monitor this trend to assess the health of Utah's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Sales and Gross Receipts Taxes in Utah (UTSLGRTAX), retrieved from FRED.