State Tax Collections: T41 Corporation Net Income Taxes for Maine
QTAXT41QTAXCAT3MENO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.00
Year-over-Year Change
24.24%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures the net income tax collections by the state government of Maine. It is an important indicator of economic activity and tax revenue for policymakers in the state.
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: T41 Corporation Net Income Taxes for Maine series tracks the net revenue generated by Maine's corporate income tax. This data point is used by economists and state officials to assess the fiscal health and economic conditions within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through a survey of state government finances.
Historical Context
Trends in corporate tax collections provide insight into the performance of businesses and overall economic conditions within Maine.
Key Facts
- Maine's corporate income tax rate is 8.93%.
- Corporate tax collections account for around 7% of Maine's total state tax revenue.
- Corporate tax revenue in Maine has fluctuated significantly over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the net income tax collections by the state government of Maine, which is a key indicator of corporate earnings and economic activity within the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in Maine's corporate tax collections provide valuable insights into the performance of businesses and the overall economic conditions within the state, which is useful for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through a survey of state government finances.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to assess the fiscal health and economic conditions within Maine, which can inform decisions around taxation, spending, and economic development policies.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, State Tax Collections: T41 Corporation Net Income Taxes for Maine (QTAXT41QTAXCAT3MENO), retrieved from FRED.