State Tax Collections: T12 Insurance Premiums Sales Tax for Indiana
QTAXT12QTAXCAT3INNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.00
Year-over-Year Change
64.29%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures Indiana's quarterly tax collections on insurance premiums sales, a key revenue source for the state. It provides insights into insurance industry activity and consumer spending patterns.
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 Indiana represents the total tax revenue collected by the state government from the sale of insurance products. This metric is used by policymakers and analysts to evaluate Indiana's fiscal health and the performance of its insurance sector.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau through surveys of state tax authorities.
Historical Context
This trend is relevant for understanding Indiana's economic policies and budget planning.
Key Facts
- Indiana collects a 1.3% tax on insurance premiums.
- Insurance premiums sales tax revenue accounts for 5% of Indiana's total tax collections.
- The insurance industry is a major employer in Indiana, with over 50,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Indiana on the sale of insurance products, including life, property, and casualty insurance.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance of Indiana's insurance industry and consumer spending patterns, which are important factors for policymakers and economic analysts to consider.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau through surveys of state tax authorities.
Q: How is this trend used in economic policy?
A: This trend is used by Indiana policymakers and budget analysts to understand the state's fiscal health and make informed decisions about revenue sources and spending priorities.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a typical 3-month delay between the end of the quarter and the release of the latest figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Indiana (QTAXT12QTAXCAT3INNO), retrieved from FRED.