State Government Tax Collections, Motor Vehicle Licenses in Minnesota
MNMOTOLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,018,705.00
Year-over-Year Change
61.33%
Date Range
1/1/1951 - 1/1/2024
Summary
This trend measures the total tax collections from motor vehicle licenses in the state of Minnesota. It provides insight into transportation infrastructure funding and consumer demand for vehicle registrations.
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 Vehicle Licenses in Minnesota series tracks the total revenue the Minnesota state government collects from the licensing of motor vehicles. This data is used by economists and policymakers to analyze transportation funding and consumer trends related to vehicle ownership.
Methodology
The data is collected directly from Minnesota state government tax records.
Historical Context
This trend is relevant for understanding transportation infrastructure investments and consumer spending patterns in Minnesota.
Key Facts
- Minnesota collected over $400 million in motor vehicle license taxes in 2021.
- Vehicle license tax revenue has grown by 25% over the past decade in Minnesota.
- Motor vehicle license taxes account for 5% of total state tax collections in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue the state of Minnesota collects from the licensing of motor vehicles, including cars, trucks, and motorcycles.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into transportation infrastructure funding and consumer demand for vehicle registrations in Minnesota.
Q: How is this data collected or calculated?
A: The data is collected directly from Minnesota state government tax records.
Q: How is this trend used in economic policy?
A: Policymakers use this data to understand transportation funding and make decisions about infrastructure investments and tax policies.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the Minnesota state government with minimal delays.
Related Trends
Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Minnesota
MNADMINWASTRQGSP
Covered Employment in Minnesota
MNCEMPLOY
Poverty Universe, Age 5-17 related for Minnesota
PUA5T17RMN27000A647NCEN
Total Carbon Dioxide Emissions From All Sectors, Coal for Minnesota
EMISSCO2TOTVTTCOMNA
All Employees: Employment Services in Minnesota
SMU27000006056130001A
State Tax Collections: T01 Property Taxes for Minnesota
QTAXT01QTAXCAT3MNNO
Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Vehicle Licenses in Minnesota (MNMOTOLICTAX), retrieved from FRED.