State Government Tax Collections, Total Income Taxes in Alabama
ALTLINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,463,209.00
Year-over-Year Change
117.54%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total Income Taxes in Alabama' metric measures the total income tax revenue collected by the Alabama state government. This data point is important for economists and policymakers to understand the state's fiscal health and tax policy.
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
This series represents the total income tax collections by the Alabama state government. It is a key indicator of the state's tax revenue and can provide insights into economic conditions, policy decisions, and fiscal trends within Alabama.
Methodology
The data is collected and published by the U.S. Census Bureau as part of its State Government Tax Collections survey.
Historical Context
Policymakers and analysts use this metric to evaluate Alabama's tax policy, revenue, and overall economic performance.
Key Facts
- Alabama has no state-level sales tax.
- Income taxes account for over 50% of Alabama's state tax revenue.
- The state's total income tax collections have increased by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total income tax revenue collected by the Alabama state government, providing insight into the state's fiscal health and tax policy.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding Alabama's economic conditions, tax policy decisions, and fiscal trends, making it relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau as part of its State Government Tax Collections survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Alabama's tax policy, revenue, and overall economic performance, informing decisions and projections.
Q: Are there update delays or limitations?
A: The data is published annually by the Census Bureau, with a typical 6-9 month delay between the end of the fiscal year and the data release.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Income Taxes in Alabama (ALTLINCTAX), retrieved from FRED.