State Government Tax Collections, General Sales and Gross Receipts Taxes in Ohio
OHSALESTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,329,461.00
Year-over-Year Change
97.28%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures the total state government tax collections from general sales and gross receipts taxes in Ohio. It is an important indicator of consumer spending and economic activity in the state.
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, General Sales and Gross Receipts Taxes in Ohio series tracks the total tax revenue collected by the Ohio state government from general sales and gross receipts taxes. This metric provides insight into consumer purchasing power and the overall health of the state's economy.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government tax agencies.
Historical Context
Policymakers and economists analyze this trend to gauge consumer confidence and make informed decisions about fiscal and monetary policies.
Key Facts
- Ohio is the seventh-largest state economy in the U.S.
- Sales tax accounts for over a third of Ohio's state tax revenue.
- The state's general sales tax rate is 5.75%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total state government tax collections from general sales and gross receipts taxes in Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending and the overall health of Ohio's economy, which is important for policymakers and economists.
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 government tax agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to gauge consumer confidence and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, so there may be a delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, State Government Tax Collections, General Sales and Gross Receipts Taxes in Ohio (OHSALESTAX), retrieved from FRED.