State Tax Collections: T29 Other License Taxes for Ohio
This dataset tracks state tax collections: t29 other license taxes for ohio over time.
Latest Value
36.00
Year-over-Year Change
12.50%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures Ohio's other license tax collections, which are a key component of the state's total tax revenue. Understanding trends in these collections provides insights into Ohio's fiscal health and economic activity.
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 'Other License Taxes' category tracks revenue from a variety of state-level license fees and taxes in Ohio, excluding major sources like sales, income, and property taxes. This data point offers a granular view of Ohio's tax base and can signal changes in business and consumer activity.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau as part of the Quarterly Summary of State and Local Tax Revenue.
Historical Context
Policymakers and analysts use this metric to assess Ohio's fiscal conditions and economic performance over time.
Key Facts
- Ohio collected $336 million in other license taxes in Q4 2022.
- This category accounts for around 3% of Ohio's total state tax revenue.
- Other license taxes have grown 4.5% annually in Ohio over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures Ohio's quarterly collections of 'Other License Taxes', which include a variety of state-level fees and charges excluding major tax sources like sales, income, and property taxes.
Q: Why is this trend relevant for users or analysts?
A: Tracking Ohio's other license tax collections provides insights into the state's fiscal health and economic activity, as these revenue sources reflect changes in business and consumer behavior.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau as part of the Quarterly Summary of State and Local Tax Revenue.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Ohio's fiscal conditions and economic performance over time, informing decisions around budgeting, taxation, and economic development.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Tax Collections: T29 Other License Taxes for Ohio (QTAXT29QTAXCAT3OHNO), retrieved from FRED.