State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Oregon
ORINSURTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
187,127.00
Year-over-Year Change
85.60%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures state government tax collections for insurance premiums and selective sales taxes in Oregon. It is a key indicator of economic activity and tax revenue for policymakers 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 ORINSURTAX series tracks the total amount of tax revenue collected by the Oregon state government from insurance premiums and selective sales taxes. This provides insight into the health of the state's insurance industry and consumer spending patterns.
Methodology
The data is collected and reported by the U.S. Census Bureau through quarterly and annual surveys of state government finances.
Historical Context
Policymakers use this trend to assess the fiscal health of Oregon and make informed decisions about budgets, taxation, and economic policies.
Key Facts
- Oregon collected $1.7 billion in insurance premium and selective sales taxes in 2021.
- This tax revenue accounts for approximately 7% of the state's total tax collections.
- The insurance premiums tax is levied on life, property, and casualty insurance policies.
FAQs
Q: What does this economic trend measure?
A: The ORINSURTAX series tracks the total amount of tax revenue collected by the Oregon state government from insurance premiums and selective sales taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the health of Oregon's insurance industry and consumer spending patterns, which are key indicators of the state's economic activity and fiscal health.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through quarterly and annual surveys of state government finances.
Q: How is this trend used in economic policy?
A: Policymakers in Oregon use this trend to assess the state's fiscal health and make informed decisions about budgets, taxation, and economic policies.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly and annual basis, so there may be a lag of several months before the most recent figures are available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Insurance Premiums - Selective Sales Taxes in Oregon (ORINSURTAX), retrieved from FRED.