State Government Tax Collections, Motor Vehicle Operators Licenses in Maine
MEMVOPERTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,326.00
Year-over-Year Change
15.63%
Date Range
1/1/1951 - 1/1/2024
Summary
The 'State Government Tax Collections, Motor Vehicle Operators Licenses in Maine' trend measures the revenue collected by the state government of Maine from taxes on motor vehicle operator's licenses. This data provides insights into transportation-related tax policies and the demand for driving services in 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 economic indicator tracks the amount of tax revenue generated by the state of Maine through the sale and renewal of motor vehicle operator's licenses. It is an important measure of transportation activity and infrastructure usage that can inform policymaking around taxation, licensing, and transportation planning.
Methodology
The data is collected directly from Maine state government tax revenue records.
Historical Context
This trend is used by policymakers, economists, and transportation analysts to evaluate the fiscal, economic, and social impacts of motor vehicle usage in Maine.
Key Facts
- Maine collected $19.8 million in motor vehicle operator's license taxes in 2021.
- License tax revenue has grown by 7.5% annually in Maine over the past decade.
- Motor vehicle license taxes account for 2.1% of Maine's total state tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures the revenue collected by the state government of Maine from taxes on motor vehicle operator's licenses.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into transportation-related tax policies and the demand for driving services in Maine, which is important for evaluating infrastructure, fiscal, and economic impacts.
Q: How is this data collected or calculated?
A: The data is collected directly from Maine state government tax revenue records.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and transportation analysts to evaluate the fiscal, economic, and social impacts of motor vehicle usage in Maine.
Q: Are there update delays or limitations?
A: The data is published with a lag 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, Motor Vehicle Operators Licenses in Maine (MEMVOPERTAX), retrieved from FRED.