State Tax Collections: T09 General Sales and Gross Receipts Taxes for Massachusetts
QTAXT09QTAXCAT3MANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,297.00
Year-over-Year Change
10.81%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the total general sales and gross receipts tax collections for the state of Massachusetts. It is an important indicator of 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 Massachusetts metric tracks the total tax revenue generated from sales and consumption-based taxes within the state. This data point is used by economists and policymakers to assess the strength of the Massachusetts economy and consumer demand.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state tax authorities.
Historical Context
This trend is closely monitored by economists, investors, and state governments to gauge the health of regional markets and guide fiscal and economic policies.
Key Facts
- Massachusetts has a 6.25% state sales tax rate.
- Sales tax collections account for over 50% of total state tax revenue.
- The trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Massachusetts from general sales and gross receipts taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength of consumer spending and economic activity within Massachusetts, which is important for assessing the state's fiscal health and guiding policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to evaluate the performance of the Massachusetts economy and inform decisions around fiscal, tax, and other economic policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Tax Collections: T09 General Sales and Gross Receipts Taxes for Massachusetts (QTAXT09QTAXCAT3MANO), retrieved from FRED.