State Government Tax Collections, Total Sales and Gross Receipts Taxes in Louisiana
LASLGRTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,127,417.00
Year-over-Year Change
66.24%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total sales and gross receipts taxes collected by the state government of Louisiana. It provides insight into the state's economic activity 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
The State Government Tax Collections data tracks different types of tax revenue received by state governments in the United States. The sales and gross receipts taxes component represents a significant portion of most states' tax collections and serves as an indicator of consumer spending and economic conditions.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finance offices.
Historical Context
This trend is closely monitored by policymakers, economists, and analysts to assess Louisiana's fiscal health and economic performance.
Key Facts
- Louisiana collected $4.9 billion in sales and gross receipts taxes in 2021.
- Sales taxes make up over 50% of Louisiana's total state tax revenue.
- The state's sales tax rate is currently 4.45%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of sales and gross receipts taxes collected by the state government of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Louisiana's economic activity and fiscal health, as sales taxes are a major source of state government revenue.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state government finance offices.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts monitor this trend to assess Louisiana's fiscal condition and economic performance, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Sales and Gross Receipts Taxes in Louisiana (LASLGRTAX), retrieved from FRED.