State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Utah
QTAXT19QTAXCAT3UTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.00
Year-over-Year Change
125.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures state tax collections for other selective sales and gross receipts taxes in Utah. It is an important indicator of consumer spending and business activity in the state.
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 Utah data series tracks the total revenue collected by the state government from taxes on various goods and services, excluding major categories like general sales tax. This provides insights into the broader economic conditions and tax base in Utah.
Methodology
The data is collected and published quarterly by the U.S. Census Bureau.
Historical Context
This trend is closely monitored by state policymakers, economists, and analysts to assess the fiscal health and economic performance of Utah.
Key Facts
- Utah collects over $1 billion annually in other selective sales and gross receipts taxes.
- These taxes account for around 10% of Utah's total state tax revenue.
- Collections in this category have grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the revenue collected by the state government of Utah from various selective sales and gross receipts taxes, excluding major categories like the general sales tax.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into consumer spending patterns and the overall business activity in Utah, which is relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and published quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: State policymakers closely monitor this trend to assess the fiscal health and economic performance of Utah, which informs their decision-making on budgets, tax policies, and other economic initiatives.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Census Bureau, State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Utah (QTAXT19QTAXCAT3UTNO), retrieved from FRED.