National Totals of State and Local Tax Revenue: T09 General Sales and Gross Receipts Taxes for the United States
This dataset tracks national totals of state and local tax revenue: t09 general sales and gross receipts taxes for the united states over time.
Latest Value
148940.00
Year-over-Year Change
9.91%
Date Range
1/1/2009 - 1/1/2025
Summary
The 'National Totals of State and Local Tax Revenue: T09 General Sales and Gross Receipts Taxes for the United States' trend measures the total amount of general sales and gross receipts taxes collected by state and local governments across the U.S. This is a key economic indicator used to analyze consumer spending and state/local fiscal conditions.
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 data series tracks state and local government revenue from general sales and gross receipts taxes, which are levied on the sale of goods and certain services. It provides insight into consumer purchasing patterns and the fiscal health of state and local jurisdictions, which rely heavily on sales tax revenue to fund public services.
Methodology
The data is collected and aggregated by the U.S. Census Bureau from state and local government tax collection reports.
Historical Context
Sales tax revenue is closely monitored by policymakers, economists, and market analysts to assess economic conditions and the ability of state/local governments to fund operations and services.
Key Facts
- Sales taxes account for nearly a third of state and local tax revenue in the U.S.
- General sales tax rates range from 0% to 7% across state jurisdictions.
- Retail sales are the largest component of the sales tax base.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of general sales and gross receipts taxes collected by state and local governments across the United States.
Q: Why is this trend relevant for users or analysts?
A: Sales tax revenue is a key indicator of consumer spending and the fiscal health of state and local jurisdictions, which rely heavily on this revenue source.
Q: How is this data collected or calculated?
A: The data is collected and aggregated by the U.S. Census Bureau from state and local government tax collection reports.
Q: How is this trend used in economic policy?
A: Sales tax revenue is closely monitored by policymakers, economists, and market analysts to assess economic conditions and the ability of state/local governments to fund operations and services.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and publication by the Census Bureau, and the data does not capture all local sales tax collections.
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Citation
U.S. Federal Reserve, National Totals of State and Local Tax Revenue: T09 General Sales and Gross Receipts Taxes for the United States (QTAXT09QTAXCAT1USYES), retrieved from FRED.