State Government Tax Collections, General Sales and Gross Receipts Taxes in Arizona
AZSALESTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,156,640.00
Year-over-Year Change
111.84%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures the total tax revenue collected by the state government of Arizona from general sales and gross receipts taxes. It provides insight into the state's economic activity and consumer spending patterns.
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, General Sales and Gross Receipts Taxes in Arizona series tracks the total tax revenue collected by the Arizona state government from these types of taxes. This data point is an important indicator of the state's economic performance and the strength of consumer demand.
Methodology
The data is collected and calculated by the U.S. Census Bureau through surveys of state government tax revenue.
Historical Context
Policymakers and economists use this trend to assess the fiscal health of the Arizona state government and gauge the overall economic climate.
Key Facts
- Arizona collected $8.1 billion in general sales and gross receipts taxes in 2021.
- Sales taxes account for over 50% of Arizona's state tax revenue.
- Arizona's sales tax rate is 5.6% as of 2023.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state government of Arizona from general sales and gross receipts taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Arizona's economic activity and consumer spending patterns, which is valuable information for policymakers, businesses, and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through surveys of state government tax revenue.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the fiscal health of the Arizona state government and gauge the overall economic climate.
Q: Are there update delays or limitations?
A: The data is typically released with a few months' delay, and it may not capture all tax revenue sources.
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Citation
U.S. Federal Reserve, State Government Tax Collections, General Sales and Gross Receipts Taxes in Arizona (AZSALESTAX), retrieved from FRED.