State Government Tax Collections, Total License Taxes in Delaware
DETLLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,584,139.00
Year-over-Year Change
110.03%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures total license tax collections by the state government of Delaware. It is an important indicator of economic activity and tax revenue for policymakers.
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 License Taxes in Delaware series tracks the total revenue the state of Delaware collects from various license taxes, such as those on motor vehicles, businesses, and professional activities. This metric provides insight into economic conditions and the tax base within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Policymakers and economists use this trend to assess Delaware's fiscal health and the performance of key industries.
Key Facts
- Delaware collected $388 million in total license taxes in 2021.
- License taxes account for about 8% of Delaware's total state tax revenue.
- The license tax trend has grown by 32% over the past decade in Delaware.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of license tax revenue collected by the state government of Delaware. License taxes are levied on various economic activities such as motor vehicles, businesses, and professional licenses.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic performance and tax base within Delaware. It is an important indicator for policymakers and economists assessing the state's fiscal health and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of their State Government Tax Collections program.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor Delaware's fiscal conditions and the performance of key industries that generate license tax revenue, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total License Taxes in Delaware (DETLLICTAX), retrieved from FRED.