State Government Tax Collections, Public Utilities - Selective Sales Taxes in Ohio
OHUTILITAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,205,241.00
Year-over-Year Change
14.60%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Public Utilities - Selective Sales Taxes in Ohio' trend measures tax revenue collected by the state of Ohio on the sale of public utility services. This metric is important for analyzing state fiscal health and the impact of utility costs on consumer spending.
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
This economic indicator tracks the selective sales tax revenue collected by the state government of Ohio on the purchase of public utility services, including electricity, natural gas, and telecommunications. It provides insight into consumer demand, utility sector performance, and the fiscal position of the state.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This trend is used by economists, policymakers, and financial analysts to evaluate Ohio's tax revenue, consumer spending patterns, and the overall state of the economy.
Key Facts
- Ohio's public utility tax collections totaled $1.2 billion in 2021.
- Utility taxes account for approximately 3% of Ohio's total state tax revenue.
- Utility tax collections have grown by 25% over the past decade in Ohio.
FAQs
Q: What does this economic trend measure?
A: This trend measures the selective sales tax revenue collected by the state government of Ohio on the sale of public utility services, including electricity, natural gas, and telecommunications.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into consumer demand, utility sector performance, and the fiscal position of the state of Ohio, making it important for economists, policymakers, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and financial analysts to evaluate Ohio's tax revenue, consumer spending patterns, and the overall state of the economy.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule of the U.S. Census Bureau's state government finance surveys.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Public Utilities - Selective Sales Taxes in Ohio (OHUTILITAX), retrieved from FRED.