State Tax Collections: T40 Individual Income Taxes for West Virginia
QTAXT40QTAXCAT3WVNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
455.00
Year-over-Year Change
-26.49%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T40 Individual Income Taxes for West Virginia' trend measures the quarterly individual income tax collections in West Virginia, providing insights into the 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
This economic indicator tracks the revenue generated from individual income taxes in West Virginia, which is a crucial source of funding for the state's public services and infrastructure. Policymakers and analysts use this data to assess the state's economic performance and make informed decisions regarding budgeting, taxation, and fiscal policy.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Historical Context
The trend is widely used by economists, policymakers, and market analysts to understand the dynamics of state-level tax collections and their implications for the broader economy.
Key Facts
- West Virginia's individual income tax collections account for a significant portion of the state's total tax revenue.
- Trends in individual income tax collections can signal changes in the state's economic performance and residents' personal income levels.
- The data is released quarterly, providing timely insights into the state's fiscal situation.
FAQs
Q: What does this economic trend measure?
A: The 'State Tax Collections: T40 Individual Income Taxes for West Virginia' trend measures the quarterly individual income tax collections in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and market analysts as it provides insights into West Virginia's fiscal health and economic conditions, which can inform decision-making regarding budgeting, taxation, and fiscal policy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Q: How is this trend used in economic policy?
A: The trend is widely used by economists, policymakers, and market analysts to understand the dynamics of state-level tax collections and their implications for the broader economy.
Q: Are there update delays or limitations?
A: The data is released quarterly, providing timely insights into West Virginia's fiscal situation.
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Citation
U.S. Federal Reserve, State Tax Collections: T40 Individual Income Taxes for West Virginia (QTAXT40QTAXCAT3WVNO), retrieved from FRED.