National Totals of State Tax Revenue: T40 Individual Income Taxes for the United States
This dataset tracks national totals of state tax revenue: t40 individual income taxes for the united states over time.
Latest Value
124358.00
Year-over-Year Change
-16.41%
Date Range
1/1/1992 - 1/1/2025
Summary
The National Totals of State Tax Revenue: T40 Individual Income Taxes for the United States measures the total individual income tax revenue collected by U.S. state governments. This metric is a key indicator of economic activity and fiscal health.
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 series tracks the total individual income tax receipts reported by state tax authorities across the United States. Individual income taxes are a major source of revenue for most state governments and an important component of overall state fiscal policy.
Methodology
The data is collected and aggregated by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Historical Context
Policymakers and analysts monitor this trend to assess the financial condition of state governments and the broader economic environment.
Key Facts
- This data series dates back to 1962.
- Individual income taxes account for over a third of total state tax revenue.
- State tax collections can vary significantly based on economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total individual income tax revenue collected by U.S. state governments. It is a key indicator of economic activity and fiscal health.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the financial condition of state governments and the broader economic environment. Policymakers and analysts use this data to assess fiscal policy and economic trends.
Q: How is this data collected or calculated?
A: The data is collected and aggregated by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess state fiscal conditions and the overall economic climate. It informs decisions around taxation, spending, and economic development policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months. There may also be revisions to previous periods as more complete information becomes available.
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Citation
U.S. Federal Reserve, National Totals of State Tax Revenue: T40 Individual Income Taxes for the United States (QTAXT40QTAXCAT2USNO), retrieved from FRED.