National Totals of State Tax Revenue: T09 General Sales and Gross Receipts Taxes for the United States
This dataset tracks national totals of state tax revenue: t09 general sales and gross receipts taxes for the united states over time.
Latest Value
113964.00
Year-over-Year Change
10.82%
Date Range
1/1/1992 - 1/1/2025
Summary
This economic trend measures total state-level sales and gross receipts tax revenue for the United States. It is a key indicator of consumer spending and state fiscal health.
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 National Totals of State Tax Revenue: T09 General Sales and Gross Receipts Taxes for the United States tracks the aggregate revenue collected by U.S. states through sales and gross receipts taxes. This metric provides insight into consumption patterns and the overall strength of state budgets.
Methodology
The data is collected by the U.S. Census Bureau through state tax revenue reports.
Historical Context
Policymakers and analysts use this trend to assess economic conditions and the fiscal situation of state governments.
Key Facts
- Sales taxes account for over a third of total state tax revenue.
- Tax collections tend to rise during economic expansions and fall during recessions.
- The COVID-19 pandemic caused a sharp decline in state sales tax revenue in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue collected by U.S. states through general sales and gross receipts taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending patterns and the fiscal health of state governments, making it a key indicator for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through state tax revenue reports.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to assess the strength of the economy and the fiscal situation of state governments, which informs policy decisions.
Q: Are there update delays or limitations?
A: There may be delays in data reporting from state governments, and the trend does not capture all state-level tax revenue sources.
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Citation
U.S. Federal Reserve, National Totals of State Tax Revenue: T09 General Sales and Gross Receipts Taxes for the United States (QTAXT09QTAXCAT2USNO), retrieved from FRED.