State Government Tax Collections, Total Sales and Gross Receipts Taxes in Alabama
ALSLGRTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,106,236.00
Year-over-Year Change
75.22%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures the total sales and gross receipts taxes collected by the state government of Alabama. It is an important indicator of economic activity and consumer spending within 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 Alabama series tracks the revenue generated from sales taxes and other transaction-based taxes levied by the Alabama state government. This metric provides insight into the overall health of the state's economy and can inform fiscal policy decisions.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Historical Context
Policymakers and analysts use this trend to monitor the strength of consumer demand and business activity in Alabama.
Key Facts
- Alabama collected $3.7 billion in sales and gross receipts taxes in 2021.
- Sales taxes account for over 50% of Alabama's state tax revenue.
- Alabama has a statewide sales tax rate of 4%, plus local sales taxes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total sales and gross receipts taxes collected by the state government of Alabama. It captures revenue from transaction-based taxes like the state sales tax.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending and business activity within Alabama, making it an important indicator for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the strength of the Alabama economy and inform fiscal policy decisions.
Q: Are there update delays or limitations?
A: There may be lags of several months in the reporting of this data by the Census Bureau.
Related Trends
Regional Price Parities: All Items for Alabama
ALRPPALL
Proprietors' Farm Income in Alabama
ALOFAR
High School Graduate or Higher for Alabama
GCT1501AL
Gross Domestic Product: Transportation and Utilities (22, 48-49) in Alabama
ALTRANSUTILNGSP
Total Carbon Dioxide Emissions From All Sectors, Coal for Alabama
EMISSCO2TOTVTTCOALA
Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Less: Receipts from Sales of Goods and Services by Nonprofit Institutions for Alabama
ALPCELRPTSLSGSNPIS
Citation
U.S. Federal Reserve, State Government Tax Collections, Total Sales and Gross Receipts Taxes in Alabama (ALSLGRTAX), retrieved from FRED.