State Tax Collections: T40 Individual Income Taxes for Mississippi
QTAXT40QTAXCAT3MSNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
443.00
Year-over-Year Change
-11.93%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures individual income tax collections for the state of Mississippi. It is a key indicator of a state's fiscal health and economic conditions.
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 Mississippi series tracks the total amount of personal income taxes collected by the state government. This data point is closely monitored by policymakers, analysts, and economists to assess Mississippi's economic performance and revenue sources.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This metric helps inform state budgeting, tax policy, and economic development decisions.
Key Facts
- Mississippi has no state-level sales tax.
- Income taxes account for over 30% of Mississippi's state revenue.
- Revenues from this tax have fluctuated between $1.2-$1.6 billion annually.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total individual income tax collections for the state of Mississippi. It tracks the revenue the state government receives from personal income taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched as an indicator of Mississippi's fiscal health and economic conditions. It informs state budgeting, tax policy, and economic development decisions.
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: Policymakers, analysts, and economists use this metric to assess Mississippi's revenue sources and economic performance, which informs budgeting, tax, and economic development decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly, but there may be a 1-2 quarter delay in availability.
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Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for Mississippi (QTAXT40QTAXCAT3MSNO), retrieved from FRED.