State Tax Collections: T28 Occupation and Business License, Not Elsewhere Classified for Maryland
QTAXT28QTAXCAT3MDNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.00
Year-over-Year Change
-52.08%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures Maryland's state tax collections from occupation and business licenses that are not classified elsewhere. It provides insight into the state's economic conditions and tax 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: T28 Occupation and Business License, Not Elsewhere Classified for Maryland tracks the revenue generated by state-level taxes on various business activities and occupations within the state. This data is used by economists and policymakers to analyze Maryland's economic performance and fiscal health.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government tax authorities.
Historical Context
This trend is relevant for understanding Maryland's tax policies and their impact on the state's business environment and economic development.
Key Facts
- Maryland's state tax collections from this category were $206 million in 2021.
- Occupation and business license taxes account for approximately 3% of Maryland's total state tax revenue.
- This tax category has seen a steady increase over the past decade, reflecting growth in Maryland's business activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the state tax collections from occupation and business licenses that are not classified elsewhere in Maryland's tax system.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and tax revenue sources of the state of Maryland, which is useful for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected 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: This trend is used by economists and policymakers to analyze Maryland's tax policies, business environment, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 quarter delay and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, State Tax Collections: T28 Occupation and Business License, Not Elsewhere Classified for Maryland (QTAXT28QTAXCAT3MDNO), retrieved from FRED.