State Tax Collections: T40 Individual Income Taxes for Washington
This dataset tracks state tax collections: t40 individual income taxes for washington over time.
Latest Value
7.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures individual income tax collections in the state of Washington. It provides valuable insights into the state's fiscal health and the economic well-being of its residents.
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 Washington series tracks the total amount of individual income taxes collected by the state government. This data is used by economists, policymakers, and analysts to assess the state's tax revenue, gauge economic activity, and inform fiscal policy decisions.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This trend is closely monitored by state officials, economists, and investors to understand Washington's economic performance and revenue outlook.
Key Facts
- Washington has no state-level personal income tax.
- Individual income taxes account for a significant portion of Washington's state tax revenue.
- Tax collections can be influenced by changes in employment, wages, and economic activity.
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 Washington.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Washington's fiscal health, economic activity, and can inform policy decisions.
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: State officials, economists, and investors monitor this trend to understand Washington's economic performance and revenue outlook.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and methodologies of the U.S. Census Bureau.
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Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for Washington (QTAXT40QTAXCAT3WANO), retrieved from FRED.