State Tax Collections: T12 Insurance Premiums Sales Tax for California
This dataset tracks state tax collections: t12 insurance premiums sales tax for california over time.
Latest Value
513.00
Year-over-Year Change
80.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures the quarterly tax collections on insurance premiums sales in the state of California. It provides insight into consumer spending on insurance products and the state's tax revenue from this economic activity.
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 California series tracks the total state tax revenue generated from the sales of insurance products in California. This metric is an important indicator of consumer insurance purchasing behavior and a key source of state fiscal resources.
Methodology
The data is collected and reported by the California State Controller's Office.
Historical Context
This trend is closely monitored by state policymakers and economists to assess the health of California's insurance markets and its fiscal position.
Key Facts
- California is the largest insurance market in the United States.
- Insurance premiums sales tax accounts for over 5% of California's total state tax revenue.
- The insurance premiums sales tax rate in California is currently 2.35%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total quarterly tax revenue collected by the state of California on the sale of insurance products to consumers.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer spending on insurance and is an important indicator of the health of California's insurance markets and its fiscal position.
Q: How is this data collected or calculated?
A: The data is collected and reported by the California State Controller's Office.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the strength of California's insurance industry and the state's fiscal health.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for California (QTAXT12QTAXCAT3CANO), retrieved from FRED.