State Tax Collections: T09 General Sales and Gross Receipts Taxes for Pennsylvania
This dataset tracks state tax collections: t09 general sales and gross receipts taxes for pennsylvania over time.
Latest Value
3903.00
Year-over-Year Change
10.32%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures Pennsylvania's general sales and gross receipts tax collections, 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 Pennsylvania metric tracks the total revenue generated from sales and gross receipts taxes levied by the state government. This data provides insight into consumer demand and broader economic conditions within Pennsylvania.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state tax collection agencies.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess Pennsylvania's fiscal health and the strength of its consumer economy.
Key Facts
- Pennsylvania's sales tax rate is 6%.
- General sales taxes make up over 30% of Pennsylvania's total state tax revenue.
- Sales tax collections in Pennsylvania reached a record high in 2021.
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 government of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending and economic activity within Pennsylvania, which is crucial for evaluating the state's fiscal health and economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state tax collection agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess Pennsylvania's fiscal condition and monitor the strength of its consumer economy, which informs decision-making on taxation, spending, and other economic policies.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to revisions 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 Pennsylvania (QTAXT09QTAXCAT3PANO), retrieved from FRED.