State Tax Collections: T12 Insurance Premiums Sales Tax for District of Columbia
QTAXT12QTAXCAT3DCNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
79.00
Year-over-Year Change
1.28%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the total tax collections from insurance premiums sales tax in the District of Columbia. It provides insight into the revenue generated from this important state-level tax.
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 on insurance premiums sales tax in the District of Columbia represent a key revenue source for local government. This metric tracks the total dollar amount collected from this specific excise tax, which is levied on the sale of various insurance products within the district.
Methodology
The data is collected directly from the District of Columbia government's tax collection records.
Historical Context
Policymakers and analysts use this metric to monitor the fiscal health and revenue trends for the District of Columbia.
Key Facts
- Taxes on insurance premiums are a major revenue source for many state governments.
- The District of Columbia levies a sales tax on insurance products sold within its jurisdiction.
- Insurance premiums tax collections fluctuate with changes in the local insurance market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax collections from the insurance premiums sales tax in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into an important revenue source for the District of Columbia government, which can inform fiscal policy and budget planning.
Q: How is this data collected or calculated?
A: The data is collected directly from the District of Columbia government's tax collection records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the fiscal health and revenue trends for the District of Columbia.
Q: Are there update delays or limitations?
A: The data is subject to the timely reporting of tax collections by the District of Columbia government.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for District of Columbia (QTAXT12QTAXCAT3DCNO), retrieved from FRED.