State Government Tax Collections, Occupation and Business Licenses in Indiana
INBUSLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66,970.00
Year-over-Year Change
52.67%
Date Range
1/1/1951 - 1/1/2024
Summary
The 'State Government Tax Collections, Occupation and Business Licenses in Indiana' trend measures tax revenue collected by the state government of Indiana from occupational and business license fees. This provides insights into economic activity and regulatory conditions within 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 series tracks the total amount of tax revenue collected by the Indiana state government from fees and licenses associated with operating businesses and professions. It serves as an indicator of entrepreneurial activity, regulatory burden, and the overall business climate within the state.
Methodology
The data is collected directly from the Indiana state government's financial reporting.
Historical Context
This metric is used by policymakers, economists, and businesses to analyze the economic and regulatory environment in Indiana.
Key Facts
- Indiana collected $276 million in occupation and business license taxes in 2021.
- Occupational licensing fees account for over 60% of this tax revenue stream.
- The trend has grown by 27% over the past decade, reflecting economic expansion in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the Indiana state government from fees and licenses associated with operating businesses and professions within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the business climate, regulatory burden, and overall economic activity within the state of Indiana, which is valuable information for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected directly from the financial reporting of the Indiana state government.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze the regulatory environment and business climate in Indiana, which can inform decisions on taxation, licensing requirements, and other economic policies.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so there may be delays in reflecting the most recent economic conditions. Additionally, the data only covers the state of Indiana and does not provide a nationwide perspective.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Occupation and Business Licenses in Indiana (INBUSLICTAX), retrieved from FRED.