State Tax Collections: T12 Insurance Premiums Sales Tax for Montana
QTAXT12QTAXCAT3MTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
85.00
Year-over-Year Change
1114.29%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the total sales tax revenue collected by the state of Montana on insurance premiums. It provides insight into consumer spending and state fiscal health.
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 Montana tracks the monthly sales tax revenue generated from the taxation of insurance premiums paid by residents and businesses in the state. This data offers a window into consumer and commercial insurance market activity.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state tax authorities.
Historical Context
Policymakers and analysts use this trend to monitor economic conditions and state budgets.
Key Facts
- Montana levies a 2.75% sales tax on insurance premiums.
- Insurance premiums sales tax accounted for 5.2% of Montana's total tax revenue in 2021.
- Montana's insurance premiums sales tax revenue grew by 8.3% year-over-year in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total sales tax revenue collected by the state of Montana on insurance premiums paid by residents and businesses.
Q: Why is this trend relevant for users or analysts?
A: This data offers insight into consumer and commercial insurance market activity, as well as the fiscal health of the state government.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor economic conditions and state budgets.
Q: Are there update delays or limitations?
A: The data is published monthly with a 3-month lag.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Montana (QTAXT12QTAXCAT3MTNO), retrieved from FRED.