State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Michigan
This dataset tracks state tax collections: t19 other selective sales and gross receipts taxes for michigan over time.
Latest Value
760.00
Year-over-Year Change
62.74%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures other selective sales and gross receipts tax collections in the state of Michigan. It provides insights into the tax revenue generated from a variety of non-general sales taxes.
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: T19 Other Selective Sales and Gross Receipts Taxes for Michigan' series tracks tax revenue collected by the state of Michigan on a variety of selective sales and service-based transactions, excluding general sales taxes. This metric is a key indicator of economic activity and tax policy in the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through state tax revenue surveys.
Historical Context
This trend is closely monitored by state policymakers, fiscal analysts, and economists to assess the economic conditions and tax base within Michigan.
Key Facts
- Michigan's other selective sales tax collections totaled $1.8 billion in 2021.
- This tax category accounts for over 10% of total state tax revenue in Michigan.
- Selective sales taxes are imposed on specific goods and services, unlike general sales taxes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state of Michigan on a variety of selective sales and service-based transactions, excluding general sales taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic activity and tax base within Michigan, which is important for state policymakers, fiscal analysts, and economists.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through state tax revenue surveys.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state policymakers to assess economic conditions and inform fiscal policy decisions in Michigan.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical lag of several months.
Related News
U.S. Home Sales Decline In August Due To High Prices
August 2023 U.S. Home Sales Decline Amid Rising Mortgage Rates and High Prices In August 2023, U.S. home sales experienced a notable decline, highlighting a distressing trend in the housing market. Homeownership is more costly these days. High home prices and soaring 30 year mortgage rates, combined with limited housing inventory, pose significant challenges for potential buyers and cast a shadow on economic recovery efforts. Many potential homebuyers find themselves increasingly priced out of
U.S. Treasury Yields Increase Amid Strong Economic Growth and Inflation Concerns
Treasury Yields Surge Amid Economic Growth and Inflation Concerns Treasury yields are surging as investors closely monitor the evolving U.S. economic landscape. Recent data 10-year Treasury yield. With economic growth on one side and inflation data on the other, it's essential to unpack these complex dynamics. By analyzing these factors, we gain insights into the Federal Reserve's role in shaping monetary policy and the consequential market implications. The Federal Reserve's policies, market v
U.S. Job Growth Slowdown Affects Unemployment Rate
The Impact of Weak Job Growth on the US Unemployment Rate The unemployment rate has always been a vital gauge to understand the United States' economic health. Recent times have brought this indicator into sharper focus, especially as weak job growth continues to challenge the nation’s economy. The pressures of a sluggish labor market may lead to more significant economic consequences, impacting not just the workforce but the broader fiscal landscape. Weak job growth, leading to an increased un
U.S. Stock Markets Hit Record Highs Amid Nvidia, OpenAI Partnership
Nvidia's OpenAI Partnership Excites U.S. Markets The unprecedented performance of the U.S. stock markets can be largely attributed to Nvidia's exciting partnership with OpenAI. This collaboration is not only setting new records for Nvidia shares but is also invigorating other tech stocks, leading to historic highs in indices like the Dow Jones, S&P 500, and Nasdaq. Record-high stocks signify significant investment opportunities, underscored by revolutionary artificial intelligence innovations.
Falling Mortgage Rates: Expert Advice for U.S. Homebuyers and Sellers
Expert Tips for Homebuyers and Sellers as Mortgage Rates Drop Mortgage rates are making headlines as they continue to decline, promising significant impacts on both homebuyers and sellers. These shifts in the real estate landscape invite a closer look at how adjustments in economic indicators, such as the federal funds rate and the 10-year treasury yield chart, are playing a part in this development. The U.S. housing market is reacting in intriguing ways, offering potential advantages for those
Unpredictability of Interest Rate Direction in the United States
Navigating the Unpredictability of Interest Rates Interest rates have turned into one of the most unpredictable elements in the American financial landscape. This unpredictability stems largely from the nuanced decisions of the Federal Reserve, often referred to as the Fed, whose policies ripple through financial markets, influencing borrowing costs for everyone from ambitious entrepreneurs to families securing mortgages. The web of economic indicators, which serves as the backbone for interest
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Michigan (QTAXT19QTAXCAT3MINO), retrieved from FRED.