State Tax Collections: T12 Insurance Premiums Sales Tax for Oklahoma
This dataset tracks state tax collections: t12 insurance premiums sales tax for oklahoma over time.
Latest Value
127.00
Year-over-Year Change
195.35%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures Oklahoma's quarterly tax collections from the insurance premiums sales tax, which is an important revenue source for the state.
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 insurance premiums sales tax is levied on insurance companies for policies sold in Oklahoma. This data provides insight into the state's fiscal health and the insurance industry's economic activity.
Methodology
The data is collected and reported quarterly by the Oklahoma Tax Commission.
Historical Context
Policymakers and analysts monitor this trend to understand state budgets and the insurance market.
Key Facts
- Oklahoma levies a 2.25% tax on insurance premiums.
- Tax collections from this source generate over $250 million annually for the state.
- The insurance industry is a major employer and economic driver in Oklahoma.
FAQs
Q: What does this economic trend measure?
A: This trend measures Oklahoma's quarterly tax collections from the insurance premiums sales tax, which is a key revenue source for the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into Oklahoma's fiscal health and the economic activity of the state's insurance industry, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the Oklahoma Tax Commission.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to understand state budgets and the insurance market, which can inform fiscal and regulatory decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a several-month delay before the latest figures are available.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Oklahoma (QTAXT12QTAXCAT3OKNO), retrieved from FRED.