State Government Tax Collections, Total Other Taxes in Minnesota
MNTLOTHTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
587,339.00
Year-over-Year Change
57.53%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total other tax collections by the state government of Minnesota. It provides insight into the state's overall tax revenue and fiscal health.
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, Total Other Taxes in Minnesota' series tracks all other tax revenues collected by the Minnesota state government, excluding major tax categories like individual income, corporate income, and sales taxes. This data is used by economists and policymakers to analyze the state's fiscal position and tax policy.
Methodology
The data is collected and published by the U.S. Census Bureau through quarterly surveys of state governments.
Historical Context
This trend is relevant for understanding Minnesota's overall tax and revenue structure, which informs budgeting, spending, and economic policy decisions.
Key Facts
- Minnesota collects over $3 billion annually in total other taxes.
- Other taxes make up around 15% of Minnesota's total state tax revenue.
- Tax collection trends help inform the state's budget and spending priorities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of 'other' tax revenues collected by the state government of Minnesota, excluding major categories like income and sales taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into Minnesota's overall fiscal health and tax revenue structure, which is important for understanding the state's budget, economic policies, and development priorities.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau through quarterly surveys of state government tax collections.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze Minnesota's tax and revenue system, which informs budgeting, spending, and economic development decisions at the state level.
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 accessing the most recent information.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Other Taxes in Minnesota (MNTLOTHTAX), retrieved from FRED.