State Tax Collections: T22 Corporations in General License for Minnesota
QTAXT22QTAXCAT3MNNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.00
Year-over-Year Change
25.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the total tax collections from corporations in Minnesota under the General License tax category. It is an important indicator of the state's tax revenue and business climate.
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 Minnesota series tracks the total tax revenue received by the state government from corporate taxpayers under the General License tax category. This provides insight into the overall tax burden and fiscal health of Minnesota's business sector.
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 used by policymakers, economists, and investors to analyze Minnesota's economic conditions and tax environment.
Key Facts
- Minnesota's corporate tax collections under the General License category totaled $1.2 billion in 2021.
- Corporate tax revenue accounts for approximately 10% of Minnesota's total state tax collections.
- The trend has shown volatility in recent years, reflecting changes in the state's business environment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax collections from corporations in Minnesota under the General License tax category, providing insight into the state's corporate tax revenue.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding Minnesota's business climate and fiscal health, as corporate tax revenue is a significant component of the state's overall tax collections.
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: Policymakers, economists, and investors use this trend to analyze Minnesota's economic conditions and tax environment, which can inform decisions on tax policy, business incentives, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is reported quarterly, and there may be a short delay in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T22 Corporations in General License for Minnesota (QTAXT22QTAXCAT3MNNO), retrieved from FRED.