State Tax Collections: T50 Death and Gift Taxes for Michigan
QTAXT50QTAXCAT3MINO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures state tax collections for death and gift taxes in Michigan. It provides insights into the state's revenue from these tax sources.
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: T50 Death and Gift Taxes for Michigan series tracks the total revenue collected by the state of Michigan from death and gift taxes. This data is used by economists and policymakers to analyze the state's fiscal health and tax policy.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This trend is relevant for understanding Michigan's overall tax revenue and the role of estate and gift taxes.
Key Facts
- Michigan collected $72.3 million in death and gift taxes in 2021.
- Death and gift taxes account for about 1% of Michigan's total tax revenue.
- Estate planning is a key driver of this tax category.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Michigan from death and gift taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into Michigan's fiscal health and the role of estate and inheritance taxes in the state's overall tax policy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to analyze Michigan's tax revenue sources and inform decisions around estate and inheritance tax policies.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a typical 3-month delay in availability.
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Citation
U.S. Federal Reserve, State Tax Collections: T50 Death and Gift Taxes for Michigan (QTAXT50QTAXCAT3MINO), retrieved from FRED.