State Tax Collections: T12 Insurance Premiums Sales Tax for Tennessee
This dataset tracks state tax collections: t12 insurance premiums sales tax for tennessee over time.
Latest Value
410.00
Year-over-Year Change
25.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the quarterly tax collections on insurance premiums sales in the state of Tennessee. It is an important indicator for policymakers and analysts to understand state tax revenue dynamics and the insurance industry's economic impact.
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 Tennessee series tracks the total revenue collected by the state government from the sales tax levied on insurance premiums. This data point offers insights into consumer spending patterns, the health of the insurance sector, and the state's fiscal condition.
Methodology
The data is collected directly from the Tennessee Department of Revenue's tax revenue reporting.
Historical Context
Analysts and policymakers use this metric to assess the state's economic and fiscal conditions.
Key Facts
- Tennessee has a 7% sales tax on insurance premiums.
- Insurance premiums sales tax revenue accounts for 5% of Tennessee's total tax collections.
- Quarterly insurance premiums sales tax revenue has grown by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly tax collections on insurance premiums sales in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric offers insights into consumer spending patterns, the health of the insurance sector, and the state's fiscal condition.
Q: How is this data collected or calculated?
A: The data is collected directly from the Tennessee Department of Revenue's tax revenue reporting.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess the state's economic and fiscal conditions.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a 2-month lag.
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Citation
U.S. Federal Reserve, State Tax Collections: T12 Insurance Premiums Sales Tax for Tennessee (QTAXT12QTAXCAT3TNNO), retrieved from FRED.