State Government Tax Collections, Total Taxes in North Carolina
NCTOTLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,124,746.00
Year-over-Year Change
72.25%
Date Range
1/1/1942 - 1/1/2024
Summary
This series measures the total tax collections by the state government of North Carolina. It provides insights into the state's fiscal health and revenue sources.
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 Taxes in North Carolina series tracks the aggregate amount of taxes collected by the state government. This data is used by economists and policymakers to analyze the state's economic performance and fiscal policies.
Methodology
The data is collected and published by the U.S. Census Bureau.
Historical Context
This trend is relevant for understanding North Carolina's fiscal policies and budget decisions.
Key Facts
- North Carolina collected $29.6 billion in total taxes in 2020.
- Tax collections declined by 2.5% in 2020 due to the COVID-19 pandemic.
- Sales and gross receipts taxes account for the largest share of North Carolina's tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax collections by the state government of North Carolina, including income, sales, and other taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into North Carolina's fiscal health and revenue sources, which is important for understanding the state's economic performance and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze North Carolina's fiscal policies, budget decisions, and the overall state of the economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months, so there may be a lag in the most recent information.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Taxes in North Carolina (NCTOTLTAX), retrieved from FRED.