State Government Tax Collections, Other Selective Sales and Gross Receipts Taxes in Minnesota
MNOTHSLSTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,386,462.00
Year-over-Year Change
-2.32%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures other selective sales and gross receipts taxes collected by the state government of Minnesota. It provides insight into a key component of the state's tax revenue and economic activity.
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
Other selective sales and gross receipts taxes are a type of excise tax levied by the state government on specific goods and services. This data series tracks the monthly collections of these taxes in Minnesota, offering a window into the state's economic conditions and fiscal health.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This metric is closely watched by state policymakers, economists, and investors to assess Minnesota's economic performance and revenue outlook.
Key Facts
- Minnesota levies other selective sales and gross receipts taxes on items like alcohol, tobacco, and recreational activities.
- These taxes contributed over $1.2 billion to Minnesota's state government revenue in 2021.
- The trend in other selective sales and gross receipts taxes can signal changes in consumer spending and economic conditions in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly collections of other selective sales and gross receipts taxes by the Minnesota state government.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into a key component of Minnesota's tax revenue and can signal changes in the state's economic activity and fiscal health.
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: State policymakers, economists, and investors monitor this metric to assess Minnesota's economic performance and revenue outlook.
Q: Are there update delays or limitations?
A: The data is reported monthly by the Census Bureau with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Other Selective Sales and Gross Receipts Taxes in Minnesota (MNOTHSLSTAX), retrieved from FRED.