State Government Tax Collections, Total Taxes in Ohio
OHTOTLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37,466,367.00
Year-over-Year Change
44.50%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total tax revenue collected by the state government of Ohio. It is an important indicator of Ohio's fiscal health 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
The State Government Tax Collections, Total Taxes in Ohio metric tracks the total amount of tax revenue received by the Ohio state government from various sources. This data point is closely monitored by policymakers, analysts, and economists to assess the state's budgetary position and economic performance.
Methodology
The data is collected and published by the U.S. Census Bureau.
Historical Context
This trend is used to inform state fiscal and economic policy decisions.
Key Facts
- Ohio collected over $30 billion in total state taxes in 2021.
- Tax collections grew by 12.5% in Ohio between 2020 and 2021.
- Sales tax is the largest source of state tax revenue in Ohio.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state government of Ohio from various sources, including individual income tax, sales tax, corporate tax, and other state-level taxes.
Q: Why is this trend relevant for users or analysts?
A: This data point is an important indicator of Ohio's fiscal health and economic activity, providing insights into the state's budgetary position and the overall strength of its economy.
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, analysts, and economists use this trend to inform state fiscal and economic policy decisions, such as budgeting, tax policy, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and there may be revisions to the historical data.
Related Trends
Commercial Carbon Dioxide Emissions, Industrial Coking for Ohio
EMISSCO2VCLCCBOHA
Civilian Labor Force for Ohio
CIVLFOH
Electric Power Carbon Dioxide Emissions, All Fuels for Ohio
EMISSCO2TOTVECTOOHA
Real Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in Ohio
OHCPUELCPMANRGSP
Average Weekly Hours of All Employees: Education and Health Services in Ohio
SMU39000006500000002A
Gross Domestic Product: Utilities (22) in Ohio
OHUTILNQGSP
Citation
U.S. Federal Reserve, State Government Tax Collections, Total Taxes in Ohio (OHTOTLTAX), retrieved from FRED.