State Tax Collections: T22 Corporations in General License for South Carolina
QTAXT22QTAXCAT3SCNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.00
Year-over-Year Change
35.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures quarterly corporate tax collections in South Carolina, providing insights into the state's business environment and fiscal health.
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 South Carolina series tracks the total amount of corporate tax revenue collected by the state government. This metric is a key indicator of business activity and can inform policy decisions related to economic development and fiscal management.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the state's economic conditions and competitiveness.
Key Facts
- South Carolina collected $1.3 billion in corporate taxes in 2021.
- Corporate tax revenue accounts for 15% of South Carolina's total tax collections.
- The state's corporate tax rate is 5%, one of the lowest in the Southeast.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of corporate tax revenue collected by the state government of South Carolina, providing insights into business activity and the state's fiscal health.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely monitored by policymakers, economists, and businesses to assess South Carolina's economic conditions and competitiveness, informing decisions related to economic development and fiscal management.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate the state's business environment and inform decisions related to tax policy, economic development initiatives, and fiscal management.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a typical release lag of 3-6 months.
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Citation
U.S. Federal Reserve, State Tax Collections: T22 Corporations in General License for South Carolina (QTAXT22QTAXCAT3SCNO), retrieved from FRED.