State Tax Collections: T24 Motor Vehicles License for North Dakota
QTAXT24QTAXCAT3NDNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.00
Year-over-Year Change
0.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend tracks North Dakota's state tax collections from motor vehicles license fees. It provides insights into consumer and business activity in the transportation sector.
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 Dakota measures the total amount of tax revenue the state collects from fees and taxes related to motor vehicle registrations, titles, and licenses. This data is used by economists and policymakers to analyze trends in consumer spending, transportation activity, and state fiscal conditions.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau based on state government tax revenue reports.
Historical Context
This trend is closely watched by transportation analysts, state budget officials, and economic forecasters.
Key Facts
- North Dakota collected $31.2 million in motor vehicle license taxes in Q4 2022.
- Motor vehicle license taxes account for 3.7% of North Dakota's total state tax revenue.
- This trend has grown at an average annual rate of 2.5% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total amount of tax revenue the state of North Dakota collects from fees and taxes related to motor vehicle registrations, titles, and licenses.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer and business activity in the transportation sector, which is a key driver of economic growth. It is closely watched by transportation analysts, state budget officials, and economic forecasters.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau based on state government tax revenue reports.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to analyze trends in consumer spending, transportation activity, and state fiscal conditions, which informs decision-making on transportation infrastructure, taxation, and economic development policies.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, State Tax Collections: T24 Motor Vehicles License for North Dakota (QTAXT24QTAXCAT3NDNO), retrieved from FRED.