State Tax Collections: T50 Death and Gift Taxes for Pennsylvania
QTAXT50QTAXCAT3PANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
433.00
Year-over-Year Change
15.78%
Date Range
1/1/1994 - 4/1/2025
Summary
This series tracks Pennsylvania's state-level tax collections from death and gift taxes, a key indicator of wealth transfer and estate activity 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: T50 Death and Gift Taxes for Pennsylvania' series measures the total tax revenue the state of Pennsylvania collects from levies on property and wealth transfers, such as inheritance and estate taxes. This data is used by economists and policymakers to monitor wealth flows and generational wealth accumulation.
Methodology
The data is collected and reported by the U.S. Census Bureau through state-level tax revenue surveys.
Historical Context
This trend provides insight into Pennsylvania's tax policies and affluent demographic changes that can inform fiscal and economic development decisions.
Key Facts
- Pennsylvania's death and gift tax collections totaled $1.3 billion in 2021.
- Death and gift taxes account for about 2% of Pennsylvania's total state tax revenue.
- Pennsylvania's death tax rate is 4.5% on taxable estates over $5 million.
FAQs
Q: What does this economic trend measure?
A: This series tracks Pennsylvania's state-level tax collections from death and gift taxes, which are levied on the transfer of wealth upon an individual's death or as a gift.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into affluent demographic changes and wealth transfer activity in Pennsylvania, which can inform economic and fiscal policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through state-level tax revenue surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to monitor wealth flows and generational wealth accumulation in Pennsylvania, which can inform decisions around taxation, estate planning, and economic development.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Tax Collections: T50 Death and Gift Taxes for Pennsylvania (QTAXT50QTAXCAT3PANO), retrieved from FRED.