State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for South Carolina
QTAXT19QTAXCAT3SCNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
311.00
Year-over-Year Change
293.67%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures other selective sales and gross receipts taxes collected by the state government of South Carolina. It provides insight into an important component of state tax revenue.
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 'T19 Other Selective Sales and Gross Receipts Taxes' metric tracks revenue from taxes on specific goods, services, or transactions in South Carolina. This data is a valuable indicator of economic activity and consumer spending within the state.
Methodology
The data is collected through standard state tax reporting and accounting procedures.
Historical Context
This metric is closely monitored by state policymakers and economists to assess fiscal conditions and the overall health of the South Carolina economy.
Key Facts
- South Carolina collected over $1.5 billion in other selective sales taxes in 2021.
- This tax category accounts for about 15% of total state tax revenue in South Carolina.
- Selective sales taxes apply to items like motor fuels, alcoholic beverages, and tobacco products.
FAQs
Q: What does this economic trend measure?
A: This trend measures other selective sales and gross receipts taxes collected by the state government of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into an important component of state tax revenue and can be used to assess economic activity and consumer spending within South Carolina.
Q: How is this data collected or calculated?
A: The data is collected through standard state tax reporting and accounting procedures.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by state policymakers and economists to assess fiscal conditions and the overall health of the South Carolina economy.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis with minimal delays, providing timely insights into South Carolina's tax collections.
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Citation
U.S. Federal Reserve, State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for South Carolina (QTAXT19QTAXCAT3SCNO), retrieved from FRED.