State Government Tax Collections, Total Taxes in Delaware
This dataset tracks state government tax collections, total taxes in delaware over time.
Latest Value
6534362.00
Year-over-Year Change
99.21%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total Taxes in Delaware' trend measures the total tax revenue collected by the Delaware state government. This data is important for economists and policymakers to analyze Delaware's fiscal conditions 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 series represents the total amount of state tax revenue collected in Delaware, including personal income taxes, sales taxes, corporate taxes, and other sources. It provides insight into the overall tax burden and fiscal health of the state.
Methodology
The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Tax Revenue.
Historical Context
This trend is widely used by state governments, economists, and financial analysts to monitor Delaware's economic performance and assess the impact of tax policy changes.
Key Facts
- Delaware's total state tax collections were $4.5 billion in 2020.
- Sales and use taxes account for the largest share of Delaware's state tax revenue.
- Tax collections in Delaware have grown by an average of 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'State Government Tax Collections, Total Taxes in Delaware' trend measures the total amount of tax revenue collected by the Delaware state government from various sources, including personal income taxes, sales taxes, corporate taxes, and other state-level taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding Delaware's fiscal conditions, revenue sources, and the overall tax burden on residents and businesses. It provides valuable insights for policymakers, economists, and financial analysts when evaluating the state's economic performance and the impact of tax policy changes.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Tax Revenue.
Q: How is this trend used in economic policy?
A: This trend is widely used by state governments, economists, and financial analysts to monitor Delaware's economic performance, assess the impact of tax policy changes, and inform decisions related to budgeting, spending, and revenue forecasting.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with a slight delay from the end of the reporting period. There may be occasional revisions or adjustments to the historical data as well.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Taxes in Delaware (DETOTLTAX), retrieved from FRED.