State Tax Collections: T12 Insurance Premiums Sales Tax for New Jersey
QTAXT12QTAXCAT3NJNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
269.00
Year-over-Year Change
-15.41%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the quarterly state tax collections from insurance premiums sales tax in New Jersey. It provides insight into the state's revenue from this specific tax category.
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 New Jersey metric tracks the revenue collected by the state government from the sales tax levied on insurance premiums. This data point is used by economists and policymakers to analyze the state's fiscal health and tax policy.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
This trend is relevant for assessing New Jersey's tax revenue composition and economic performance.
Key Facts
- New Jersey levies a sales tax on insurance premiums.
- This tax revenue supports the state's general fund.
- The tax rate on insurance premiums is 2% in New Jersey.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly state tax collections from the insurance premiums sales tax in New Jersey.
Q: Why is this trend relevant for users or analysts?
A: This data point is relevant for analyzing New Jersey's fiscal health, tax policy, and economic performance.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess New Jersey's tax revenue composition and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for New Jersey (QTAXT12QTAXCAT3NJNO), retrieved from FRED.