State Tax Collections: T13 Motor Fuels Sales Tax for New Jersey
This dataset tracks state tax collections: t13 motor fuels sales tax for new jersey over time.
Latest Value
110.00
Year-over-Year Change
4.76%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures state tax collections from motor fuels sales taxes in New Jersey. It is an important indicator of consumer and business activity in the state's transportation sector.
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 motor fuels sales tax is a key revenue source for many state governments. This data series tracks the total monthly tax collections from the sale of gasoline, diesel, and other motor fuels in New Jersey. It provides insights into consumer spending, commercial transport, and economic conditions in the state.
Methodology
The data is collected and reported by the New Jersey Department of Treasury.
Historical Context
Policy makers and economists use this data to monitor the health of New Jersey's transportation and logistics industries.
Key Facts
- New Jersey collected $302 million in motor fuels sales tax in 2022.
- Motor fuels sales tax accounts for 12% of New Jersey's total state tax revenue.
- Diesel fuel sales make up 35% of total motor fuels tax collections in New Jersey.
FAQs
Q: What does this economic trend measure?
A: This series measures the total monthly tax collections from the sale of gasoline, diesel, and other motor fuels in the state of New Jersey.
Q: Why is this trend relevant for users or analysts?
A: The state motor fuels sales tax is an important revenue source and economic indicator for New Jersey. This data provides insights into consumer spending, commercial transport, and overall economic conditions in the state.
Q: How is this data collected or calculated?
A: The data is collected and reported by the New Jersey Department of Treasury.
Q: How is this trend used in economic policy?
A: Policy makers and economists use this data to monitor the health of New Jersey's transportation and logistics industries, which are crucial to the state's economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, State Tax Collections: T13 Motor Fuels Sales Tax for New Jersey (QTAXT13QTAXCAT3NJNO), retrieved from FRED.