State Tax Collections: T09 General Sales and Gross Receipts Taxes for Washington
This dataset tracks state tax collections: t09 general sales and gross receipts taxes for washington over time.
Latest Value
5552.00
Year-over-Year Change
8.04%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures state-level general sales and gross receipts tax collections in Washington. It provides insight into consumer spending and economic activity within 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 Washington series tracks revenue from taxes on the sale or consumption of goods and services in the state of Washington. This metric is a key indicator of consumer demand and overall economic health.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government revenue sources.
Historical Context
This trend is used by economists and policymakers to analyze consumer behavior and guide fiscal policy decisions.
Key Facts
- Washington has no state income tax, relying heavily on sales tax revenue.
- General sales and gross receipts taxes account for over 50% of Washington's total state tax collections.
- This trend reached a record high of $4.4 billion in Q4 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures state-level general sales and gross receipts tax collections in Washington, providing insight into consumer spending and economic activity within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of consumer demand and overall economic health in Washington, making it relevant for economists, policymakers, and analysts assessing the state's fiscal and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government revenue sources.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze consumer behavior and guide fiscal policy decisions in Washington.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, State Tax Collections: T09 General Sales and Gross Receipts Taxes for Washington (QTAXT09QTAXCAT3WANO), retrieved from FRED.