State Tax Collections: T40 Individual Income Taxes for Minnesota
This dataset tracks state tax collections: t40 individual income taxes for minnesota over time.
Latest Value
2472.00
Year-over-Year Change
-27.40%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures individual income tax collections in the state of Minnesota. It provides valuable insights into the economic health and fiscal conditions of 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 Minnesota series tracks the total amount of individual income taxes collected by the state government of Minnesota. This data point is important for economists and policymakers to understand state-level fiscal conditions and revenue trends.
Methodology
The data is collected and reported by the U.S. Census Bureau through their Quarterly Summary of State and Local Government Tax Revenue survey.
Historical Context
This trend is widely used by state governments, economists, and market analysts to assess Minnesota's economic performance and fiscal policy.
Key Facts
- Minnesota collects over $12 billion in individual income taxes annually.
- Individual income taxes account for over 45% of Minnesota's total tax revenue.
- Tax collections have grown by an average of 4% per year over the past decade.
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 Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data point is important for understanding the fiscal health and economic conditions of the state of Minnesota.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through their Quarterly Summary of State and Local Government Tax Revenue survey.
Q: How is this trend used in economic policy?
A: State governments, economists, and market analysts use this trend to assess Minnesota's economic performance and fiscal policy.
Q: Are there update delays or limitations?
A: The data is reported quarterly, and 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 Minnesota (QTAXT40QTAXCAT3MNNO), retrieved from FRED.