State Tax Collections: T40 Individual Income Taxes for Ohio
QTAXT40QTAXCAT3OHNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,208.00
Year-over-Year Change
-1.82%
Date Range
1/1/1994 - 1/1/2025
Summary
The State Tax Collections: T40 Individual Income Taxes for Ohio metric tracks the quarterly individual income tax revenue collected by the state of Ohio.
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
This metric is a key indicator of Ohio's fiscal health and economic performance. It provides insights into the state's tax base, taxpayer behavior, and the broader economic conditions within Ohio.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This data is used by policymakers, economists, and analysts to assess Ohio's economic trends and guide fiscal and tax policy decisions.
Key Facts
- Ohio collected $8.3 billion in individual income taxes in 2021.
- Individual income taxes account for over 40% of Ohio's total tax revenue.
- Ohio's individual income tax rate ranges from 2.85% to 4.8%.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the quarterly individual income tax revenue collected by the state of Ohio. It provides insight into the state's tax base and economic performance.
Q: Why is this trend relevant for users or analysts?
A: This data is important for assessing Ohio's fiscal health, tax policy, and broader economic conditions within the state.
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, economists, and analysts use this data to guide fiscal and tax policy decisions in Ohio.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with some potential for delays in data availability.
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Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for Ohio (QTAXT40QTAXCAT3OHNO), retrieved from FRED.