State Government Tax Collections, Total Income Taxes in Delaware
DETLINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,070,864.00
Year-over-Year Change
121.18%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total Income Taxes in Delaware' series measures the total income tax revenue collected by the Delaware state government. This metric is a key indicator of economic activity and fiscal health in the state.
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 data series tracks the total income tax payments remitted to the Delaware Department of Revenue, providing insight into the overall level of taxable income and economic performance within the state. It is a widely referenced data point for state policymakers, economists, and financial analysts.
Methodology
The data is collected directly from the Delaware Department of Revenue's tax records.
Historical Context
Trends in Delaware's total income tax collections are closely monitored by state budget officials and fiscal policy experts to assess the state's economic conditions and revenue projections.
Key Facts
- Delaware has no state sales tax.
- Income taxes account for over 60% of Delaware's total state tax revenue.
- The state's total income tax collections peaked at $1.6 billion in 2019.
FAQs
Q: What does this economic trend measure?
A: The 'State Government Tax Collections, Total Income Taxes in Delaware' series tracks the total income tax revenue collected by the Delaware state government.
Q: Why is this trend relevant for users or analysts?
A: Trends in Delaware's income tax collections provide valuable insight into the state's economic performance and fiscal health, making this data highly relevant for policymakers, economists, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from the Delaware Department of Revenue's tax records.
Q: How is this trend used in economic policy?
A: State budget officials and fiscal policy experts closely monitor trends in Delaware's total income tax collections to assess the state's economic conditions and revenue projections, which informs policy decisions.
Q: Are there update delays or limitations?
A: There may be a short delay in the reporting of this data as it is dependent on the processing of tax returns by the Delaware Department of Revenue.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Income Taxes in Delaware (DETLINCTAX), retrieved from FRED.