State Tax Collections: T24 Motor Vehicles License for North Carolina
QTAXT24QTAXCAT3NCNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
322.00
Year-over-Year Change
23.37%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures motor vehicle license tax collections in North Carolina, providing insights into consumer spending and transportation activity 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: T24 Motor Vehicles License for North Carolina series tracks the total amount of taxes collected by the state government on the registration and titling of motor vehicles. This data is used by economists and policymakers to gauge consumer demand, transportation infrastructure needs, and broader economic conditions.
Methodology
The data is collected directly from North Carolina state tax records.
Historical Context
This trend is closely watched by transportation planners, auto industry analysts, and state budget officials.
Key Facts
- North Carolina collected over $1 billion in motor vehicle license taxes in 2021.
- Tax collections declined by 5% in 2020 due to the COVID-19 pandemic.
- Motor vehicle registrations account for over 10% of total state tax revenue in North Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of motor vehicle license taxes collected by the state government of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending and transportation activity, which are key indicators of broader economic conditions in North Carolina.
Q: How is this data collected or calculated?
A: The data is collected directly from North Carolina state tax records.
Q: How is this trend used in economic policy?
A: This trend is closely watched by transportation planners, auto industry analysts, and state budget officials to gauge consumer demand, infrastructure needs, and revenue projections.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a short lag time.
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Citation
U.S. Federal Reserve, State Tax Collections: T24 Motor Vehicles License for North Carolina (QTAXT24QTAXCAT3NCNO), retrieved from FRED.