National Totals of State and Local Tax Revenue: T40 Individual Income Taxes for the United States
QTAXT40QTAXCAT1USYES • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
140,504.00
Year-over-Year Change
-13.26%
Date Range
1/1/2009 - 1/1/2025
Summary
The National Totals of State and Local Tax Revenue: T40 Individual Income Taxes for the United States measures income tax revenue collected by state and local governments across the country. This metric is a key indicator of economic activity and household income trends.
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 data series tracks the total individual income tax revenue received by state and local tax authorities in the United States. It is an important measure of fiscal conditions and can provide insights into broader economic and policy dynamics.
Methodology
The data is collected and reported by the U.S. Census Bureau through quarterly and annual surveys of state and local government finances.
Historical Context
Policymakers and analysts use this series to monitor tax revenue and assess the health of state and local government budgets.
Key Facts
- Quarterly data available since 1992.
- Represents over $1 trillion in annual tax collections.
- Varies based on economic conditions and tax policy changes.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total individual income tax revenue received by state and local tax authorities across the United States.
Q: Why is this trend relevant for users or analysts?
A: It is an important indicator of economic activity, household income, and the fiscal health of state and local governments.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through quarterly and annual surveys of state and local government finances.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this series to monitor tax revenue and assess the health of state and local government budgets.
Q: Are there update delays or limitations?
A: Quarterly data is available with a short lag, but there may be revisions to previously reported figures.
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Citation
U.S. Federal Reserve, National Totals of State and Local Tax Revenue: T40 Individual Income Taxes for the United States (QTAXT40QTAXCAT1USYES), retrieved from FRED.