State Tax Collections: T24 Motor Vehicles License for Connecticut
QTAXT24QTAXCAT3CTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60.00
Year-over-Year Change
0.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures state tax collections from motor vehicle licenses in Connecticut. It provides insights into consumer behavior and state revenue sources.
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: T24 Motor Vehicles License for Connecticut metric tracks the revenue the state collects from taxes on motor vehicle registrations and licenses. This data is used by economists and policymakers to analyze consumer spending patterns and state fiscal conditions.
Methodology
The data is collected and published by the U.S. Census Bureau.
Historical Context
This trend is relevant for understanding state-level economic activity and policy decisions around transportation and taxation.
Key Facts
- Connecticut collected over $280 million in motor vehicle license taxes in 2021.
- Motor vehicle license taxes account for around 3% of Connecticut's total state tax revenue.
- The state increased motor vehicle registration fees by 15% in 2019.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the revenue the state of Connecticut collects from taxes on motor vehicle registrations and licenses.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending patterns and state fiscal conditions, which are important for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding state-level economic activity and policy decisions around transportation and taxation.
Q: Are there update delays or limitations?
A: The data is published quarterly with a slight delay, but it provides a comprehensive view of motor vehicle license tax collections in Connecticut.
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Citation
U.S. Federal Reserve, State Tax Collections: T24 Motor Vehicles License for Connecticut (QTAXT24QTAXCAT3CTNO), retrieved from FRED.