State Tax Collections: T29 Other License Taxes for Virginia
QTAXT29QTAXCAT3VANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.00
Year-over-Year Change
28.57%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the total tax collections from other license taxes in Virginia. It provides insights into the state's fiscal health and 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: T29 Other License Taxes for Virginia' metric tracks the revenue generated by various state-level license fees and taxes, excluding motor vehicle and motor fuel taxes. This data is used by economists and policymakers to analyze Virginia's tax base and assess the state's overall fiscal position.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This trend is relevant for understanding Virginia's tax policies and economic performance.
Key Facts
- Virginia collected $1.2 billion in other license taxes in 2021.
- Other license taxes account for about 5% of Virginia's total tax revenue.
- This tax category includes fees for professional licenses, business permits, and various state-level fees.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax collections from various state-level license fees and taxes in Virginia, excluding motor vehicle and motor fuel taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into Virginia's fiscal health and revenue sources, which is important for understanding the state's economic performance and tax policies.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze Virginia's tax base and assess the state's overall fiscal position, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a slight delay, and may be subject to revisions by the Census Bureau.
Related Trends
State Tax Collections: T12 Insurance Premiums Sales Tax for Ohio
QTAXT12QTAXCAT3OHNO
State Tax Collections: T12 Insurance Premiums Sales Tax for Indiana
QTAXT12QTAXCAT3INNO
State Tax Collections: T15 Public Utilities Sales Tax for Louisiana
QTAXT15QTAXCAT3LANO
Poverty Tax Exemptions for Colorado
PEXMCO8A647NCEN
Median Adjusted Gross Income for Utah
MEDAGIUT49A052NCEN
Age 65 and Over Tax Exemptions for Wyoming
AGEXMWY56A647NCEN
Citation
U.S. Federal Reserve, State Tax Collections: T29 Other License Taxes for Virginia (QTAXT29QTAXCAT3VANO), retrieved from FRED.