State Government Tax Collections, Occupation and Business Licenses in Pennsylvania
PABUSLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,318,771.00
Year-over-Year Change
48.16%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures state government tax collections from occupation and business licenses in Pennsylvania. It provides insights into the state's business activity and tax revenue.
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, Occupation and Business Licenses in Pennsylvania' series tracks the revenue generated by the state government from taxes on occupations and business licenses. This data is used by economists and policymakers to assess the health of Pennsylvania's business environment and economy.
Methodology
The data is collected and reported by the U.S. Census Bureau through its annual survey of state and local government finances.
Historical Context
This economic indicator is relevant for understanding Pennsylvania's fiscal policy, tax burden, and regulatory environment for businesses.
Key Facts
- Pennsylvania collected $1.2 billion in occupation and business license taxes in 2021.
- This tax revenue accounts for approximately 4% of the state's total tax collections.
- The trend has shown steady growth over the past decade, reflecting a growing business environment in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the Pennsylvania state government from occupation and business licenses. It provides insights into the level of business activity and tax burden in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding Pennsylvania's fiscal health, regulatory environment, and the overall strength of its business sector. It is used by economists, policymakers, and businesses to assess the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its annual survey of state and local government finances.
Q: How is this trend used in economic policy?
A: This trend is used by state policymakers and economists to evaluate the impact of tax and regulatory policies on Pennsylvania's business environment and to inform decisions about fiscal and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year, so the most recent data may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Occupation and Business Licenses in Pennsylvania (PABUSLICTAX), retrieved from FRED.