State Tax Collections: T40 Individual Income Taxes for Indiana
QTAXT40QTAXCAT3INNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,890.00
Year-over-Year Change
-28.33%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures individual income tax collections for the state of Indiana. It provides insights into the fiscal health and revenue sources of the state government.
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: T40 Individual Income Taxes for Indiana trend tracks the quarterly collections of individual income taxes in the state of Indiana. This metric is a key indicator of economic activity and personal income in the state, and is used by policymakers and analysts to assess fiscal conditions and revenue projections.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Historical Context
Trends in individual income tax collections are closely monitored by state governments, fiscal analysts, and economists to inform budgeting, economic forecasting, and policy decisions.
Key Facts
- Indiana's individual income tax rate is 3.23%.
- Individual income taxes account for over 50% of Indiana's total state tax revenue.
- Quarterly income tax collections in Indiana averaged $1.4 billion from 2015-2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly individual income tax collections for the state of Indiana. It provides insights into the fiscal health and revenue sources of the state government.
Q: Why is this trend relevant for users or analysts?
A: Trends in individual income tax collections are closely monitored by state governments, fiscal analysts, and economists to inform budgeting, economic forecasting, and policy decisions.
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: Policymakers and analysts use this metric to assess fiscal conditions and revenue projections for the state of Indiana.
Q: Are there update delays or limitations?
A: The data is released quarterly with a typical 3-month lag from the end of the reporting period.
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Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for Indiana (QTAXT40QTAXCAT3INNO), retrieved from FRED.