State Government Tax Collections, Total License Taxes in Maine
METLLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
336,434.00
Year-over-Year Change
33.29%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total License Taxes in Maine' trend measures the total amount of license taxes collected by the state government of Maine. This data is important for economists and policymakers to understand the revenue sources and fiscal conditions of state governments.
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 trend represents the total amount of license taxes, which include fees paid for driver's licenses, hunting/fishing licenses, business/professional licenses, and other regulatory fees, collected by the state government of Maine. It provides insight into a key revenue stream for the state and can be used to analyze Maine's fiscal policy and economic conditions.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue program.
Historical Context
Policymakers and analysts use this data to assess the financial health and policy decisions of the Maine state government.
Key Facts
- Maine collected $210 million in total license taxes in 2021.
- License taxes account for 6% of Maine's total state tax revenue.
- Driver's licenses are the largest component of Maine's license tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of license taxes collected by the state government of Maine, including fees for driver's licenses, hunting/fishing licenses, business/professional licenses, and other regulatory fees.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into a key revenue source for the state of Maine, allowing economists and policymakers to assess the fiscal health and policy decisions of the state government.
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 Government Tax Revenue program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand the financial conditions and revenue sources of the Maine state government, which informs fiscal policy decisions and economic analysis.
Q: Are there update delays or limitations?
A: The data is reported quarterly, and there may be a delay of several months before the most recent figures are available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total License Taxes in Maine (METLLICTAX), retrieved from FRED.