State Tax Collections: T40 Individual Income Taxes for Kentucky
This dataset tracks state tax collections: t40 individual income taxes for kentucky over time.
Latest Value
1235.00
Year-over-Year Change
-10.96%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures individual income tax collections by the state of Kentucky. It is an important indicator of economic activity and fiscal health within the state.
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 Kentucky series tracks the total amount of personal income taxes collected by the Kentucky state government. This data is used by economists and policymakers to analyze state revenue and budgeting trends.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This metric is closely watched by state officials, financial analysts, and taxpayers to gauge Kentucky's economic performance and tax policy.
Key Facts
- Kentucky collected $5.7 billion in individual income taxes in 2021.
- Income taxes account for over 40% of Kentucky's total state tax revenue.
- Individual income tax collections in Kentucky have grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of individual income taxes collected by the state government of Kentucky.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of Kentucky's economic performance and fiscal health, providing insight into state tax revenue and budgeting.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: State officials, financial analysts, and taxpayers use this metric to gauge Kentucky's economic activity and evaluate tax policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Census Bureau, so there may be a 1-2 quarter delay in the most recent figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for Kentucky (QTAXT40QTAXCAT3KYNO), retrieved from FRED.