State Government Tax Collections, Total Taxes in Louisiana
LATOTLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,955,144.00
Year-over-Year Change
77.40%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures the total tax revenue collected by the state government of Louisiana. It is an important indicator of Louisiana's fiscal health and economic activity.
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 Taxes in Louisiana metric tracks the aggregate value of all taxes levied by the Louisiana state government. This data is used by economists and policymakers to analyze the state's fiscal policies, tax burden, and overall economic performance.
Methodology
The data is collected and published by the U.S. Census Bureau.
Historical Context
Trends in state tax collections are closely monitored by government officials, economists, and investors to assess the business climate and fiscal soundness of state economies.
Key Facts
- Louisiana collected $11.5 billion in total state taxes in 2021.
- Tax collections grew by 12.4% in Louisiana from 2020 to 2021.
- Sales tax is the largest source of state tax revenue in Louisiana.
FAQs
Q: What does this economic trend measure?
A: The State Government Tax Collections, Total Taxes in Louisiana metric tracks the aggregate value of all taxes levied by the Louisiana state government, including sales, income, and other taxes.
Q: Why is this trend relevant for users or analysts?
A: Trends in state tax collections are important indicators of a state's fiscal health, economic activity, and policy environment, which are closely monitored by government officials, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau as part of its state government finance surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the state's fiscal position, evaluate the impact of tax policy changes, and make informed decisions about budgeting, spending, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is typically published with a 6-9 month lag, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Taxes in Louisiana (LATOTLTAX), retrieved from FRED.