State Government Tax Collections, Total Taxes in Massachusetts
MATOTLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43,080,972.00
Year-over-Year Change
88.78%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures total tax collections by the state government of Massachusetts. It is a key indicator of the state's fiscal health and economic conditions.
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 Massachusetts series tracks the total amount of taxes collected by the Massachusetts state government from various sources, including personal income tax, corporate income tax, sales tax, and other levies. This data provides insight into the state's revenue generation and can inform policy decisions.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This metric is closely watched by policymakers, economists, and investors to assess Massachusetts' economic performance and budget outlook.
Key Facts
- Massachusetts is the 15th largest state economy in the U.S.
- Total state tax collections in Massachusetts exceeded $30 billion in 2021.
- Sales tax accounts for the largest share of Massachusetts' state tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of taxes collected by the Massachusetts state government from various sources, including personal income tax, corporate income tax, sales tax, and other levies.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Massachusetts' fiscal health and economic conditions, which is of interest to policymakers, economists, and investors.
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 finances.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers to assess Massachusetts' economic performance and budget outlook, which can inform fiscal and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly, and there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Taxes in Massachusetts (MATOTLTAX), retrieved from FRED.