State Tax Collections: T22 Corporations in General License for Rhode Island
This dataset tracks state tax collections: t22 corporations in general license for rhode island over time.
Latest Value
3.00
Year-over-Year Change
0.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures corporate tax collections in Rhode Island, providing insight into 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 Rhode Island' metric tracks the revenue generated from corporate taxes paid to the state government. This data point is used by economists and policymakers to analyze Rhode Island's fiscal health and business environment.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state tax authorities.
Historical Context
Trends in corporate tax collections are closely monitored by state governments, businesses, and economic analysts to inform tax, regulatory, and economic development policies.
Key Facts
- Rhode Island collected $305 million in corporate taxes in 2021.
- Corporate tax revenues account for 10% of Rhode Island's total tax collections.
- The state's corporate tax rate is 7%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the revenue collected by the state of Rhode Island from corporate income taxes and license fees paid by businesses.
Q: Why is this trend relevant for users or analysts?
A: Trends in corporate tax collections provide insights into the financial health and business environment of Rhode Island, which is valuable information for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the state's fiscal health, evaluate the impact of tax policies on businesses, and inform decisions related to economic development, taxation, and regulation.
Q: Are there update delays or limitations?
A: There may be a delay of several months between the end of the reporting period and the release of the data, as state governments compile and report their tax collection figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T22 Corporations in General License for Rhode Island (QTAXT22QTAXCAT3RINO), retrieved from FRED.