State Tax Collections: T09 General Sales and Gross Receipts Taxes for Idaho
This dataset tracks state tax collections: t09 general sales and gross receipts taxes for idaho over time.
Latest Value
745.00
Year-over-Year Change
9.40%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures general sales and gross receipts tax collections for the state of Idaho. It provides insight into consumer spending and economic activity 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 State Tax Collections: T09 General Sales and Gross Receipts Taxes for Idaho series tracks the total revenue generated from sales and gross receipts taxes in the state. This metric is used by economists and policymakers to analyze consumption patterns, economic growth, and the fiscal health of state governments.
Methodology
The data is collected and reported by the U.S. Census Bureau through quarterly tax revenue surveys.
Historical Context
This trend is widely referenced by state governments, economic analysts, and policymakers to inform budgeting, tax policy, and macroeconomic assessments.
Key Facts
- Idaho's general sales and gross receipts tax collections totaled $1.8 billion in 2021.
- Sales taxes account for over 50% of Idaho's total state tax revenue.
- Idaho has a statewide sales tax rate of 6%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated from general sales and gross receipts taxes collected by the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending patterns and the overall health of Idaho's economy, which is crucial information for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through quarterly tax revenue surveys.
Q: How is this trend used in economic policy?
A: State governments, policymakers, and economic analysts use this trend to inform budgeting, tax policy, and macroeconomic assessments for Idaho.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, so there may be a short delay before the most recent information is available.
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Citation
U.S. Federal Reserve, State Tax Collections: T09 General Sales and Gross Receipts Taxes for Idaho (QTAXT09QTAXCAT3IDNO), retrieved from FRED.