State Tax Collections: T25 Motor Vehicle Operators License for Utah
QTAXT25QTAXCAT3UTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.00
Year-over-Year Change
-37.50%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the tax collections on motor vehicle operator's licenses in the state of Utah. It provides insights into a key revenue source for state governments.
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: T25 Motor Vehicle Operators License for Utah metric tracks the tax revenue generated from fees and charges related to the issuance and renewal of driver's licenses and motor vehicle operator's permits in the state of Utah. This data point is an important indicator of transportation-related economic activity and state fiscal health.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state and local government tax authorities.
Historical Context
This trend is closely monitored by policymakers and analysts to understand the overall tax revenue landscape and transportation sector dynamics within Utah.
Key Facts
- Utah's motor vehicle operator's license tax revenue totaled $75.3 million in 2021.
- This tax accounts for approximately 2.5% of Utah's total state tax collections.
- License fees have increased by 12% in Utah over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state of Utah from fees and charges related to motor vehicle operator's licenses and permits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into a key revenue source for state governments and can be used to analyze transportation sector activity and fiscal policy within Utah.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state and local government tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this trend to understand the overall tax revenue landscape and transportation sector dynamics within Utah.
Q: Are there update delays or limitations?
A: This data is published 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: T25 Motor Vehicle Operators License for Utah (QTAXT25QTAXCAT3UTNO), retrieved from FRED.