State Tax Collections: T29 Other License Taxes for New Jersey
This dataset tracks state tax collections: t29 other license taxes for new jersey over time.
Latest Value
1.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T29 Other License Taxes for New Jersey' metric tracks revenues from various state-level licensing fees and taxes in New Jersey.
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
This economic indicator provides insight into a key component of New Jersey's state tax collections, shedding light on revenue generation from sources beyond major tax categories like income and sales.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Analysts and policymakers monitor this trend to assess the health of New Jersey's public finances.
Key Facts
- New Jersey's other license tax collections totaled $1.2 billion in 2021.
- This category accounts for around 5% of New Jersey's total state tax revenue.
- Other license taxes include fees for professional licenses, motor vehicle registrations, and more.
FAQs
Q: What does this economic trend measure?
A: This metric tracks revenues collected by the state of New Jersey from various licensing fees and other miscellaneous taxes, excluding major categories like income and sales taxes.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this data provides insight into the health of New Jersey's public finances and revenue diversification beyond core tax sources.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of its State Government Tax Collections program.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to assess New Jersey's fiscal position and the sustainability of its revenue sources.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so there may be delays in accessing the most recent figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T29 Other License Taxes for New Jersey (QTAXT29QTAXCAT3NJNO), retrieved from FRED.