State Tax Collections: T09 General Sales and Gross Receipts Taxes for Minnesota
This dataset tracks state tax collections: t09 general sales and gross receipts taxes for minnesota over time.
Latest Value
1986.00
Year-over-Year Change
12.52%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures state-level general sales and gross receipts tax collections for Minnesota. It provides important insight into consumer spending, economic activity, and state government 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 Tax Collections: T09 General Sales and Gross Receipts Taxes for Minnesota series tracks the monthly collections of general sales and gross receipts taxes by the Minnesota state government. This metric is a key indicator of consumer purchasing and overall economic conditions within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state and local tax authorities.
Historical Context
This trend is closely monitored by state policymakers, economists, and market analysts to assess Minnesota's fiscal health and economic performance.
Key Facts
- Minnesota collects over $10 billion annually in general sales and gross receipts taxes.
- Sales taxes account for more than one-third of Minnesota's state tax revenue.
- General sales tax collections in Minnesota peaked in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly collections of general sales and gross receipts taxes by the Minnesota state government. It provides insight into consumer spending and economic activity within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers, economists, and market analysts as an indicator of Minnesota's fiscal health and economic performance.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state and local tax authorities.
Q: How is this trend used in economic policy?
A: State tax collection data, including this sales tax metric, informs fiscal and budgetary decisions by Minnesota policymakers.
Q: Are there update delays or limitations?
A: The data is reported monthly with a typical 2-3 month lag between the reference period and public release.
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Citation
U.S. Federal Reserve, State Tax Collections: T09 General Sales and Gross Receipts Taxes for Minnesota (QTAXT09QTAXCAT3MNNO), retrieved from FRED.