State Tax Collections: T29 Other License Taxes for Massachusetts
This dataset tracks state tax collections: t29 other license taxes for massachusetts over time.
Latest Value
103.00
Year-over-Year Change
45.07%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures other license tax collections in Massachusetts, which are an important source of state government revenue.
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: T29 Other License Taxes' series tracks revenue from miscellaneous state-level licensing fees and charges, excluding motor vehicle and business license taxes. This data provides insight into a key component of Massachusetts' fiscal health and policy environment.
Methodology
The data is collected directly from state government financial records.
Historical Context
Economists and policymakers use this data to analyze state budgets and revenue trends.
Key Facts
- Other license taxes account for around 3% of total Massachusetts state tax revenue.
- License tax collections in Massachusetts have grown by over 15% since 2015.
- Fees from professional and occupational licenses make up the largest share of other license tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend tracks revenue from miscellaneous state-level licensing fees and charges in Massachusetts, excluding motor vehicle and business license taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into a key component of Massachusetts' fiscal health and policy environment, which is important for economists and policymakers analyzing state budgets and revenue trends.
Q: How is this data collected or calculated?
A: The data is collected directly from state government financial records.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze state budgets and revenue trends, which informs decisions around fiscal policy, taxation, and government spending.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a short delay, providing timely information on this revenue source.
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Citation
U.S. Federal Reserve, State Tax Collections: T29 Other License Taxes for Massachusetts (QTAXT29QTAXCAT3MANO), retrieved from FRED.