State Tax Collections: T22 Corporations in General License for Maryland
This dataset tracks state tax collections: t22 corporations in general license for maryland over time.
Latest Value
36.00
Year-over-Year Change
33.33%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures state tax collections from corporate license fees in Maryland. It provides insights into the financial health and economic activity of corporations 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: T22 Corporations in General License for Maryland data series tracks the revenue the state of Maryland collects from corporate license fees. This metric is used by economists and policymakers to gauge the overall business climate and economic conditions in the state.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This trend is relevant for understanding the fiscal position of state governments and the broader business environment.
Key Facts
- Maryland collected $302 million in corporate license fees in 2021.
- Corporate license fees account for approximately 5% of Maryland's total tax revenue.
- The trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the amount of tax revenue the state of Maryland collects from corporate license fees, which are paid by businesses operating in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall business climate and economic conditions in Maryland, as corporate license fee collections are closely tied to the financial health and activity of companies in the state.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of their State Tax Collections program.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the fiscal position of the Maryland state government and to understand the broader business environment and economic conditions within the state.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, State Tax Collections: T22 Corporations in General License for Maryland (QTAXT22QTAXCAT3MDNO), retrieved from FRED.