State Tax Collections: T12 Insurance Premiums Sales Tax for Ohio
This dataset tracks state tax collections: t12 insurance premiums sales tax for ohio over time.
Latest Value
250.00
Year-over-Year Change
40.45%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the tax revenue collected by the state of Ohio from the sales of insurance premiums. It provides insight into the state's fiscal health 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 Ohio tracks the quarterly tax revenue generated from the sale of insurance products within the state. This metric is used by economists and policymakers to assess consumer demand, business activity, and the overall strength of Ohio's economy.
Methodology
The data is collected and reported by the U.S. Census Bureau as part of its quarterly state and local government tax revenue survey.
Historical Context
This trend is closely monitored by state officials, industry groups, and economic analysts to gauge the performance of Ohio's insurance sector and its broader economic implications.
Key Facts
- Ohio collects sales tax on insurance premiums.
- This trend tracks quarterly tax revenue from insurance sales.
- The data is reported by the U.S. Census Bureau.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state of Ohio from the sales of insurance products, such as life, health, and property insurance.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer spending patterns, business activity, and the overall strength of Ohio's economy, which is useful for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of its quarterly state and local government tax revenue survey.
Q: How is this trend used in economic policy?
A: State officials, industry groups, and economic analysts closely monitor this trend to gauge the performance of Ohio's insurance sector and its broader economic implications, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly, so there may be a delay of several months before the most recent information is available.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Ohio (QTAXT12QTAXCAT3OHNO), retrieved from FRED.