State Tax Collections: T12 Insurance Premiums Sales Tax for Utah
This dataset tracks state tax collections: t12 insurance premiums sales tax for utah over time.
Latest Value
65.00
Year-over-Year Change
22.64%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the quarterly tax collections from insurance premiums sales tax in the state of Utah. It provides insight into consumer spending patterns 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 Utah series tracks the revenue generated by the state's tax on insurance premiums sales. This data point is used by economists and policymakers to analyze consumer demand, business activity, and state fiscal conditions.
Methodology
The data is collected and reported quarterly by the Utah State Tax Commission.
Historical Context
This trend is relevant for understanding state-level economic and fiscal policy.
Key Facts
- Utah collects this tax on insurance policy premiums.
- The tax rate is 4% of premiums.
- Collections have grown over 30% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly tax collections from the insurance premiums sales tax in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending patterns and state fiscal health, which is useful for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the Utah State Tax Commission.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding state-level economic and fiscal policy, as it reflects consumer demand and state revenue.
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 Utah (QTAXT12QTAXCAT3UTNO), retrieved from FRED.