State Government Tax Collections, Total Other Taxes in Alabama
ALTLOTHTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92,998.00
Year-over-Year Change
-39.23%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic indicator measures the total amount of other state taxes collected in Alabama, excluding major tax sources like individual income tax and sales tax. It provides insights into Alabama'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
The State Government Tax Collections, Total Other Taxes in Alabama series tracks a broad range of state-level taxes in Alabama beyond the major revenue sources. This data is used by policymakers, economists, and analysts to assess the state's overall tax structure and fiscal conditions.
Methodology
The data is collected and reported by the U.S. Census Bureau through its quarterly survey of state government tax collections.
Historical Context
This metric is relevant for understanding Alabama's revenue mix and evaluating the impacts of changes to the state's tax code or economic conditions.
Key Facts
- Alabama collected $2.3 billion in total other state taxes in 2021.
- Other taxes account for about 15% of Alabama's total state tax revenue.
- The largest component of Alabama's other taxes is the business privilege tax.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total amount of state taxes collected in Alabama beyond the major revenue sources like individual income tax and sales tax.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into Alabama's overall tax structure and fiscal health, which is relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its quarterly survey of state government tax collections.
Q: How is this trend used in economic policy?
A: This metric is used to evaluate Alabama's revenue mix and the potential impacts of changes to the state's tax code or economic conditions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Census Bureau, so there may be a short delay before the most recent figures are available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Other Taxes in Alabama (ALTLOTHTAX), retrieved from FRED.