State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Arizona
AZINSURTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
878,984.00
Year-over-Year Change
106.09%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Arizona' trend measures sales tax revenue collected by the Arizona state government on insurance premiums. This data provides insights into the state's fiscal health and revenue sources.
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 economic indicator tracks the amount of selective sales tax revenue collected by the Arizona state government on insurance-related transactions. It is an important metric for understanding the state's tax base, fiscal policy, and economic activity in the insurance industry.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government tax agencies.
Historical Context
Policymakers and analysts use this trend to assess Arizona's tax revenue, monitor the insurance market, and inform fiscal and economic policy decisions.
Key Facts
- Arizona collects a 2% sales tax on insurance premiums.
- Insurance-related taxes account for over 10% of Arizona's total tax revenue.
- This trend has shown steady growth in recent years as the insurance market expands.
FAQs
Q: What does this economic trend measure?
A: This trend measures the sales tax revenue collected by the Arizona state government on insurance premiums and related transactions.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into Arizona's tax base, fiscal health, and the performance of the state's insurance industry, which is relevant for policymakers, economists, and market 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 tax agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess Arizona's tax revenue, monitor the insurance market, and inform fiscal and economic policy decisions.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Arizona (AZINSURTAX), retrieved from FRED.