Local government current tax receipts: Taxes on production and imports: Sales taxes
W836RC1A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.83
Year-over-Year Change
97.97%
Date Range
1/1/1959 - 1/1/2023
Summary
This economic trend measures local government tax receipts from sales taxes, a key component of taxes on production and imports. Understanding trends in sales tax revenue is important for economists and policymakers to assess the health of local economies and government budgets.
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
Sales taxes are a major source of revenue for local governments in the United States. This data series tracks the total amount of sales taxes collected by local governments, which can provide insights into consumer spending patterns and economic activity at the local level.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
Policymakers and analysts often use this data to monitor the fiscal health of local governments and make informed decisions about budgeting and economic policy.
Key Facts
- Sales taxes account for approximately 30% of local government tax revenue.
- Local sales tax rates in the U.S. range from 0% to 8.25%.
- Changes in sales tax revenue can signal shifts in consumer spending and economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of sales taxes collected by local governments in the United States, which is a key component of taxes on production and imports.
Q: Why is this trend relevant for users or analysts?
A: Understanding trends in local government sales tax revenue can provide insights into consumer spending patterns and the overall health of local economies, which is important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts often use this data to monitor the fiscal health of local governments and make informed decisions about budgeting and economic policy.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with some potential for delays in reporting.
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Citation
U.S. Federal Reserve, Local government current tax receipts: Taxes on production and imports: Sales taxes (W836RC1A027NBEA), retrieved from FRED.