State Tax Collections: T12 Insurance Premiums Sales Tax for Arkansas
QTAXT12QTAXCAT3ARNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.00
Year-over-Year Change
15.69%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures the quarterly tax collections on insurance premiums sales in the state of Arkansas. It is an important indicator of consumer and business activity in the insurance sector.
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: T12 Insurance Premiums Sales Tax for Arkansas tracks the revenue generated by the state's tax on insurance premiums. This metric provides insight into the size and growth of the insurance industry within Arkansas and can inform economic policymaking.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue program.
Historical Context
This economic trend is closely monitored by state policymakers and the insurance industry to understand market conditions and consumer behavior.
Key Facts
- Arkansas collects a 2.5% tax on insurance premiums.
- Tax collections on insurance premiums account for over 10% of total state tax revenue.
- The insurance industry is one of the largest private employers in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This series tracks the quarterly tax collections on insurance premiums sold in the state of Arkansas. It provides a direct measure of activity in the state's insurance industry.
Q: Why is this trend relevant for users or analysts?
A: The insurance premiums sales tax is an important revenue source for the state of Arkansas and an indicator of consumer and business spending on insurance products.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue program.
Q: How is this trend used in economic policy?
A: State policymakers and the insurance industry closely monitor this metric to understand market conditions and consumer behavior, which can inform economic and regulatory decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Census Bureau, so there may be a 3-6 month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Arkansas (QTAXT12QTAXCAT3ARNO), retrieved from FRED.