State Government Tax Collections, Individual Income Taxes in Delaware
DEINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,533,018.00
Year-over-Year Change
124.95%
Date Range
1/1/1942 - 1/1/2024
Summary
This series measures individual income tax collections by the state government of Delaware. It provides insight 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
The State Government Tax Collections, Individual Income Taxes in Delaware series tracks the total amount of individual income taxes collected by the Delaware state government. This metric is a key indicator of economic activity and can inform policy decisions related to state budgeting and taxation.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Policymakers and economists use this data to analyze Delaware's fiscal and economic conditions.
Key Facts
- Delaware does not have a state sales tax.
- Individual income taxes account for over 60% of Delaware's state tax revenue.
- The state's top individual income tax rate is 6.6%.
FAQs
Q: What does this economic trend measure?
A: This series measures the total amount of individual income taxes collected by the state government of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into Delaware's fiscal health and revenue sources, which is important for policymakers and economists analyzing the state's economic and budgetary conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to inform decisions related to state budgeting, taxation, and fiscal policy in Delaware.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedule and methodological changes of the U.S. Census Bureau.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Individual Income Taxes in Delaware (DEINCTAX), retrieved from FRED.