State Government Tax Collections, Public Utilities - Selective Sales Taxes in Virginia
VAUTILITAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
476,061.00
Year-over-Year Change
215.78%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures selective sales tax collections by the state government of Virginia from public utilities. It provides insights into the revenue generated by this key tax source, which is an important indicator of economic activity and state fiscal conditions.
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, Public Utilities - Selective Sales Taxes in Virginia' metric tracks the total tax revenue collected by the Commonwealth of Virginia from selective sales taxes on public utilities. This data offers visibility into a critical revenue stream that supports state government operations and investments.
Methodology
The data is collected and reported by the U.S. Census Bureau through its quarterly state and local government tax revenue surveys.
Historical Context
Policymakers and analysts use this metric to assess Virginia's fiscal health and the broader economic trends impacting the state.
Key Facts
- Virginia collected $522 million in public utilities selective sales taxes in 2021.
- This tax revenue accounts for approximately 3% of Virginia's total state tax collections.
- Selective sales taxes on public utilities have grown by 25% over the past decade in Virginia.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total revenue collected by the Commonwealth of Virginia from selective sales taxes on public utilities, such as electricity, natural gas, and telecommunications services.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into an important revenue source for the state government, which can inform fiscal policy decisions and assessments of Virginia's economic conditions.
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 tax revenue surveys.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Virginia's fiscal health and the broader economic trends impacting the state, which can inform decisions about taxation, spending, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Census Bureau, with a typical lag of 3-6 months from the end of the reference period.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Public Utilities - Selective Sales Taxes in Virginia (VAUTILITAX), retrieved from FRED.