State Government Tax Collections, Total Selective Sales Taxes in North Carolina
NCTLSLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,017,466.00
Year-over-Year Change
51.70%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic indicator tracks state government tax collections from total selective sales taxes in North Carolina. It provides important insights into consumption patterns and state 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 Selective Sales Taxes in North Carolina metric measures the total amount of sales tax revenue collected by the state government from selective sales taxes. This data is crucial for analyzing North Carolina's economic conditions and fiscal policy decisions.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local governments.
Historical Context
This metric is widely used by economists, policymakers, and analysts to assess North Carolina's economic performance and revenue sources.
Key Facts
- North Carolina collected $11.9 billion in total selective sales taxes in 2021.
- Selective sales taxes account for over 30% of North Carolina's state tax revenue.
- Tax collections from selective sales taxes have grown by 8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of sales tax revenue collected by the state government of North Carolina from selective sales taxes, such as taxes on motor fuels, alcohol, and tobacco.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into North Carolina's consumer spending patterns and fiscal health, making it highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local governments.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess North Carolina's economic performance, revenue sources, and the potential impact of tax policy changes.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly with a short delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Selective Sales Taxes in North Carolina (NCTLSLTAX), retrieved from FRED.