State Government Tax Collections, Documentary and Stock Transfer Taxes in Minnesota
MNDOCUTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
226,949.00
Year-over-Year Change
41.41%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures the documentary and stock transfer taxes collected by the state government of Minnesota. It provides insights into the tax revenue generated from real estate transactions and financial market activities 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
The State Government Tax Collections, Documentary and Stock Transfer Taxes in Minnesota series tracks the revenue collected by the Minnesota state government from taxes on real estate deeds, mortgages, and stock transfers. This metric is used by economists and policymakers to analyze the state's economic activity and tax base.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance.
Historical Context
This trend is relevant for understanding Minnesota's fiscal health and the performance of its real estate and financial markets.
Key Facts
- Minnesota collected $78.1 million in documentary and stock transfer taxes in 2021.
- Documentary and stock transfer taxes account for about 1.5% of Minnesota's total state tax revenue.
- Tax collections in this category have grown by 23% over the past 5 years in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state government of Minnesota from documentary and stock transfer taxes, which are levied on real estate transactions and financial market activities.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic activity and tax base in Minnesota, which is useful for economists, policymakers, and analysts assessing the state's fiscal health and economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to monitor the state's tax revenue, real estate market, and financial sector activity, which can inform economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reporting period. There may also be revisions to historical data.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Documentary and Stock Transfer Taxes in Minnesota (MNDOCUTAX), retrieved from FRED.