State Government Tax Collections, Total License Taxes in Indiana
INTLLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
889,114.00
Year-over-Year Change
43.53%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total license tax collections by the state government of Indiana. It provides important insights into state fiscal conditions and government 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, Total License Taxes in Indiana series tracks the total amount of license taxes collected by the Indiana state government. License taxes include fees for professional licenses, motor vehicle registrations, and other permits and fees.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance.
Historical Context
This metric is used by economists and policymakers to analyze state government revenue and fiscal policy.
Key Facts
- Indiana collected $1.5 billion in total license taxes in 2021.
- License taxes account for approximately 10% of Indiana's state government revenue.
- Motor vehicle registration fees make up the largest share of Indiana's license tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of license taxes collected by the state government of Indiana. This includes fees for professional licenses, motor vehicle registrations, and other permits and fees.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into state government revenue sources and fiscal conditions, which is important for economic analysts and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to analyze state government revenue and inform fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on an annual basis with a several-month delay.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total License Taxes in Indiana (INTLLICTAX), retrieved from FRED.