State Government Tax Collections, Total Other Taxes in Utah
UTTLOTHTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99,118.00
Year-over-Year Change
-7.43%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic indicator tracks total state government tax collections for 'other taxes' in Utah. It provides insight into the state's fiscal health and revenue sources beyond traditional income and sales taxes.
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 'Other Taxes' category includes a variety of state-specific tax sources such as motor vehicle licenses, hunting and fishing licenses, estate taxes, and more. Analyzing trends in this data can help policymakers and economists understand Utah's overall tax environment and revenue structure.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
This metric is used by state officials, policy analysts, and investors to assess Utah's fiscal position and revenue-generating capacity.
Key Facts
- Utah's total other taxes revenue was $590 million in 2021.
- Other taxes account for about 10% of Utah's total state tax collections.
- This metric has grown at an average annual rate of 4.2% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total amount of 'other taxes' collected by the state government of Utah, including revenue from sources like motor vehicle licenses, hunting/fishing fees, and estate taxes.
Q: Why is this trend relevant for users or analysts?
A: Analyzing trends in Utah's 'other taxes' revenue provides insight into the state's overall fiscal health and tax environment, which is useful for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau as part of their State Government Tax Collections program.
Q: How is this trend used in economic policy?
A: State officials, policy analysts, and investors use this metric to assess Utah's fiscal position, revenue-generating capacity, and overall tax environment when making policy and investment decisions.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, with a lag of several months. There may also be revisions to historical data as the Census Bureau finalizes its collection and reporting.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Other Taxes in Utah (UTTLOTHTAX), retrieved from FRED.