State Tax Collections: T40 Individual Income Taxes for New York
QTAXT40QTAXCAT3NYNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,477.00
Year-over-Year Change
-26.78%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures individual income tax collections for the state of New York. It provides insight into the state's fiscal health and revenue sources.
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 New York metric tracks the quarterly tax receipts from personal income taxes levied by the state government. This data series is used by policymakers, economists, and analysts to assess New York's budgetary conditions and revenue composition.
Methodology
The data is collected and reported by the U.S. Census Bureau based on state government administrative records.
Historical Context
Trends in individual income tax collections are closely watched for their implications on state fiscal policy and economic conditions.
Key Facts
- New York has the second highest individual income tax revenue in the U.S.
- Income taxes account for over half of New York's total state tax collections.
- Quarterly individual income tax receipts in New York averaged $10.7 billion from 2010-2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly individual income tax collections for the state of New York. It provides insight into the state's fiscal health and revenue sources.
Q: Why is this trend relevant for users or analysts?
A: Trends in individual income tax collections are closely watched by policymakers, economists, and analysts for their implications on state fiscal policy and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau based on state government administrative records.
Q: How is this trend used in economic policy?
A: This metric is used by government officials, economists, and market participants to assess New York's budgetary conditions and revenue composition, which informs fiscal and economic policymaking.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a lag, so there may be delays in accessing the most recent information.
Related Trends
Individual Income Tax Filing: Excess American Opportunity Credit (Refundable)
RFAOCTEAOCA
Poverty Tax Exemptions Under Age 65 for Louisiana
PLT65EXMLA22A647NCEN
State Tax Collections: T50 Death and Gift Taxes for District of Columbia
QTAXT50QTAXCAT3DCNO
Age 65 and Over Tax Exemptions for Missouri
AGEXMMO29A647NCEN
State Tax Collections: T13 Motor Fuels Sales Tax for Pennsylvania
QTAXT13QTAXCAT3PANO
State Tax Collections: T10 Alcoholic Beverages Sales Tax for Wisconsin
QTAXT10QTAXCAT3WINO
Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for New York (QTAXT40QTAXCAT3NYNO), retrieved from FRED.