State Tax Collections: T09 General Sales and Gross Receipts Taxes for North Carolina
QTAXT09QTAXCAT3NCNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,028.00
Year-over-Year Change
13.45%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the total sales and gross receipts tax collections for the state of North Carolina. It is a key 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 North Carolina series tracks the total revenue generated from sales and gross receipts taxes levied by the state government. This metric is widely used by economists and policymakers to assess the health of North Carolina's economy and consumer demand.
Methodology
The data is collected and published quarterly by the U.S. Census Bureau.
Historical Context
This trend provides important insights into North Carolina's fiscal policy and consumer market conditions.
Key Facts
- North Carolina has a state sales tax rate of 4.75%.
- Sales tax collections account for over 50% of the state's total tax revenue.
- Quarterly sales tax receipts have exceeded $3 billion in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total sales and gross receipts tax collections for the state of North Carolina. It captures revenue from the state's sales tax on consumer purchases.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health of North Carolina's economy and consumer demand. It is widely used by economists, policymakers, and market analysts to assess economic conditions in the state.
Q: How is this data collected or calculated?
A: The data is collected and published quarterly by the U.S. Census Bureau based on reports from the North Carolina Department of Revenue.
Q: How is this trend used in economic policy?
A: Policymakers and government officials use this data to monitor the state's fiscal position, make budget decisions, and evaluate the impact of economic policies on consumer spending and business activity.
Q: Are there update delays or limitations?
A: This data is published on a quarterly basis, with a lag of several months. There may also be revisions to previously reported figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, State Tax Collections: T09 General Sales and Gross Receipts Taxes for North Carolina (QTAXT09QTAXCAT3NCNO), retrieved from FRED.