State Government Tax Collections, Individual Income Taxes in Minnesota
MNINCTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,274,070.00
Year-over-Year Change
66.17%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures individual income tax collections by the state government of Minnesota. It is a key indicator of state fiscal health and taxpayer behavior.
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, Individual Income Taxes in Minnesota series tracks the total amount of individual income taxes collected by the Minnesota state government. This data provides insight into the state's revenue and the overall economic conditions of Minnesota residents.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Policymakers and economists use this trend to analyze Minnesota's fiscal situation and assess the impact of tax policies on state revenues.
Key Facts
- Minnesota relies heavily on individual income taxes for state revenue.
- Income tax collections fluctuate with economic conditions and policy changes.
- This data is used to forecast state budgets and plan fiscal policy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of individual income taxes collected by the state government of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Minnesota's fiscal health and the economic conditions of state residents, which is valuable for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze Minnesota's fiscal situation and assess the impact of tax policies on state revenues.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Census Bureau, so there may be a short delay in the most recent figures.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Individual Income Taxes in Minnesota (MNINCTAX), retrieved from FRED.