State Government Tax Collections, Corporations in General Licenses in Maryland
MDCORPLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
145,619.00
Year-over-Year Change
51.04%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Corporations in General Licenses in Maryland' trend measures corporate license tax revenues collected by the state government of Maryland. This metric is an important indicator of business activity and economic 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 amount of corporate license tax revenue collected by the Maryland state government. The tax is levied on businesses operating in the state and serves as a proxy for overall commercial activity and corporate profitability.
Methodology
The data is collected directly from Maryland state tax administration records.
Historical Context
Policymakers and economists use this metric to gauge the health of Maryland's business environment and the broader state economy.
Key Facts
- Maryland collected $479 million in corporate license taxes in 2021.
- Corporate license tax revenues in Maryland have grown by 25% over the past decade.
- The corporate license tax accounts for approximately 5% of Maryland's total state tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures the amount of corporate license tax revenue collected by the state government of Maryland. It serves as an indicator of business activity and economic conditions within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for policymakers, economists, and business leaders to gauge the health of Maryland's business environment and the broader state economy.
Q: How is this data collected or calculated?
A: The data is collected directly from Maryland state tax administration records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the performance of Maryland's business sector and inform economic policies and initiatives.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a slight delay, typically 1-2 months after the end of each quarter.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Corporations in General Licenses in Maryland (MDCORPLICTAX), retrieved from FRED.