State Tax Collections: T22 Corporations in General License for Illinois
QTAXT22QTAXCAT3ILNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.00
Year-over-Year Change
9.01%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures corporate tax collections for the state of Illinois. It provides important insights into the financial health and taxable activity of corporations within 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: T22 Corporations in General License for Illinois' series tracks the quarterly tax revenue generated from corporations operating in Illinois. This metric is a key indicator of the state's economic performance and can inform policy decisions related to taxation, spending, and business climate.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue program.
Historical Context
This trend is closely monitored by state policymakers, economists, and investors to assess Illinois' fiscal position and business environment.
Key Facts
- Illinois collects over $10 billion in corporate tax revenue annually.
- Corporate tax collections account for approximately 10% of Illinois' total tax revenue.
- The trend has shown volatility in recent years due to changes in state tax policy and economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly tax revenue collected by the state of Illinois from corporations operating within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the financial health and taxable activity of corporations in Illinois, which can inform policy decisions and economic analysis.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue program.
Q: How is this trend used in economic policy?
A: State policymakers, economists, and investors closely monitor this trend to assess Illinois' fiscal position and business environment, which can influence decisions related to taxation, spending, and economic development.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical delay of several months between the end of the quarter and the publication of the data.
Related Trends
State Tax Collections: T41 Corporation Net Income Taxes for Texas
QTAXT41QTAXCAT3TXNO
State Tax Collections: T28 Occupation and Business License, Not Elsewhere Classified for Indiana
QTAXT28QTAXCAT3INNO
Total Tax Exemptions for Maine
TOTEXMME23A647NCEN
Age 65 and Over, Poverty Tax Exemptions for Louisiana
PAGEXMLA22A647NCEN
State Tax Collections: T51 Documentary and Stock Transfer Taxes for Alabama
QTAXT51QTAXCAT3ALNO
State Tax Collections: T40 Individual Income Taxes for Wyoming
QTAXT40QTAXCAT3WYNO
Citation
U.S. Census Bureau, State Tax Collections: T22 Corporations in General License for Illinois (QTAXT22QTAXCAT3ILNO), retrieved from FRED.