State Tax Collections: T22 Corporations in General License for Washington
This dataset tracks state tax collections: t22 corporations in general license for washington over time.
Latest Value
19.00
Year-over-Year Change
18.75%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures corporate tax collections by the state of Washington, providing insight into the financial health and tax compliance of businesses operating 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 Washington' series tracks the total amount of tax revenue collected by the Washington state government from corporations subject to the general business license tax. This metric is used by economists and policymakers to analyze the state's economic conditions and tax policy effectiveness.
Methodology
The data is collected and reported by the Washington State Department of Revenue.
Historical Context
This trend is relevant for understanding the state's fiscal position and can inform policy decisions around taxation, regulation, and economic development.
Key Facts
- Washington state collects over $5 billion annually in corporate taxes.
- Corporate tax revenue accounts for 15% of Washington's total tax receipts.
- The top industry contributors to Washington's corporate tax base are technology, aerospace, and trade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of tax revenue collected by the state of Washington from corporations subject to the general business license tax.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the financial health and tax compliance of businesses operating in Washington, which is useful for economists and policymakers analyzing the state's economic conditions and tax policy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Washington State Department of Revenue.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the state's fiscal position and can inform policy decisions around taxation, regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Washington State Department of Revenue, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, State Tax Collections: T22 Corporations in General License for Washington (QTAXT22QTAXCAT3WANO), retrieved from FRED.