State Government Tax Collections, Total Other Taxes in Maryland
MDTLOTHTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
694,329.00
Year-over-Year Change
58.79%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures total other tax collections by the state government of Maryland. It is an important indicator of state revenue 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 Other Taxes in Maryland series tracks all non-property tax revenue sources collected by the Maryland state government, excluding general sales and gross receipts taxes. This provides insight into the overall tax environment and fiscal health of the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Historical Context
Policymakers and analysts use this metric to assess Maryland's economic performance and revenue trends.
Key Facts
- Maryland's total other tax collections averaged $1.4 billion annually from 2010-2020.
- Other taxes account for about 20% of Maryland's total state tax revenue.
- Corporate income taxes and motor vehicle licenses are the largest components of Maryland's other tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures total tax collections by the Maryland state government, excluding general sales, property, and gross receipts taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Maryland's overall tax environment and fiscal health, which is important for policymakers, businesses, and economists analyzing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Maryland's economic activity and revenue trends, which informs decisions around taxation, spending, and other fiscal policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Other Taxes in Maryland (MDTLOTHTAX), retrieved from FRED.