State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Minnesota
MNFUELTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
888,215.00
Year-over-Year Change
4.59%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures Minnesota's state government tax collections from selective sales taxes on motor fuels. It is an important indicator for economists and policymakers to understand state revenue sources and the fiscal health 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
The State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Minnesota series tracks the amount of tax revenue the state government collects from taxes on the sale of motor fuels like gasoline and diesel. This data provides insight into consumer spending, transportation patterns, and state budget dynamics.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Historical Context
This economic indicator is used by policymakers, economists, and transportation analysts to monitor state-level tax revenues and assess the impacts of changes in fuel prices or consumption.
Key Facts
- Minnesota's motor fuel tax rate is currently $0.285 per gallon.
- Tax collections from motor fuels account for approximately 15% of Minnesota's total state tax revenue.
- Motor fuel tax receipts have declined in recent years due to improving vehicle fuel efficiency.
FAQs
Q: What does this economic trend measure?
A: This trend measures the amount of tax revenue collected by the Minnesota state government from selective sales taxes on the purchase of motor fuels like gasoline and diesel.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending on transportation, fuel consumption patterns, and the fiscal health of the Minnesota state government.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and transportation analysts use this indicator to monitor state-level tax revenues and assess the impacts of changes in fuel prices or consumption.
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 reflecting the most current economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Minnesota (MNFUELTAX), retrieved from FRED.