State Tax Collections: T28 Occupation and Business License, Not Elsewhere Classified for Virginia
This dataset tracks state tax collections: t28 occupation and business license, not elsewhere classified for virginia over time.
Latest Value
107.00
Year-over-Year Change
17.58%
Date Range
1/1/1994 - 1/1/2025
Summary
This data series tracks state tax collections from occupation and business license taxes in Virginia, providing insights into economic activity 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: T28 Occupation and Business License, Not Elsewhere Classified for Virginia metric captures tax revenue the state collects from various occupational and business license fees, which are an important source of state funding.
Methodology
This data is collected directly from Virginia state tax revenue records.
Historical Context
Policymakers and analysts use this metric to understand trends in Virginia's business environment and economic conditions.
Key Facts
- Virginia collects over $1 billion annually in occupation and business license taxes.
- This tax category accounts for around 5% of total state tax revenue in Virginia.
- Occupation tax collections can signal changes in the state's business climate and labor market.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the tax revenue Virginia collects from various occupation and business license fees, providing insights into the state's economic activity and business environment.
Q: Why is this trend relevant for users or analysts?
A: Occupation and business license tax collections are an important indicator of a state's economic conditions and business climate, making this metric relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from Virginia state tax revenue records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to understand trends in Virginia's business environment and economic conditions, which can inform decisions around taxation, regulation, and economic development policies.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, as the information is collected directly from state tax revenue records.
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Citation
U.S. Federal Reserve, State Tax Collections: T28 Occupation and Business License, Not Elsewhere Classified for Virginia (QTAXT28QTAXCAT3VANO), retrieved from FRED.