State Tax Collections: T41 Corporation Net Income Taxes for Minnesota
This dataset tracks state tax collections: t41 corporation net income taxes for minnesota over time.
Latest Value
1619.00
Year-over-Year Change
-3.75%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures net income tax collections by the state government of Minnesota. It is an important indicator of economic activity and tax revenue 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 Minnesota series tracks the amount of net income taxes paid by corporations to the Minnesota state government. This provides insight into the profitability and tax burden of businesses operating in the state.
Methodology
The data is collected and reported by the U.S. Census Bureau as part of their quarterly state and local government tax revenue program.
Historical Context
Economists and policymakers use this data to monitor the fiscal health and economic trends within Minnesota.
Key Facts
- Minnesota has a state corporate income tax rate of 9.8%.
- Net corporate income tax collections account for over 7% of Minnesota's total tax revenue.
- Corporation net income taxes in Minnesota have fluctuated between $700-900 million annually.
FAQs
Q: What does this economic trend measure?
A: This series measures the net income taxes paid by corporations to the state government of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the profitability and tax burden of businesses operating in Minnesota, which is useful for evaluating the state's economic and fiscal health.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of their quarterly state and local government tax revenue program.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to monitor the fiscal health and economic trends within Minnesota, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a short delay before the most recent figures are available.
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Citation
U.S. Federal Reserve, State Tax Collections: T41 Corporation Net Income Taxes for Minnesota (QTAXT41QTAXCAT3MNNO), retrieved from FRED.