State Tax Collections: T53 Severance Taxes for Connecticut
QTAXT53QTAXCAT3CTNO • 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
The 'State Tax Collections: T53 Severance Taxes for Connecticut' series tracks the quarterly severance tax revenue collected by the state of Connecticut. This data is crucial for understanding Connecticut's fiscal health and the impact of natural resource extraction on state budgets.
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
Severance taxes are levied on the extraction or removal of natural resources, such as oil, gas, or minerals, from a state's land or waters. This data provides insight into Connecticut's tax revenue from activities like mining and drilling, which can fluctuate based on commodity prices and production levels.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
Policymakers and analysts use this series to assess Connecticut's tax revenue streams and the economic factors influencing the state's fiscal position.
Key Facts
- Connecticut levies severance taxes on the extraction of natural resources.
- Severance tax revenue can fluctuate based on commodity prices and production levels.
- This data series is reported quarterly by the U.S. Census Bureau.
FAQs
Q: What does this economic trend measure?
A: This series tracks the quarterly severance tax revenue collected by the state of Connecticut. Severance taxes are levied on the extraction or removal of natural resources from the state's land or waters.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into Connecticut's tax revenue from natural resource extraction activities, which can be an important component of the state's fiscal position and budget.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this series to assess Connecticut's tax revenue streams and the economic factors influencing the state's fiscal position.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a delay between the end of the quarter and the release of the latest figures.
Related Trends
U.S Individual Income Tax: Personal Exemptions: Dependents
IIPPEDD
State Tax Collections: T20 Alcoholic Beverages License for New Hampshire
QTAXT20QTAXCAT3NHNO
State Tax Collections: T23 Hunting and Fishing License for Tennessee
QTAXT23QTAXCAT3TNNO
State Tax Collections: T14 Pari-Mutuels Sales Tax for Maryland
QTAXT14QTAXCAT3MDNO
State Tax Collections: T10 Alcoholic Beverages Sales Tax for Kentucky
QTAXT10QTAXCAT3KYNO
State Tax Collections: T09 General Sales and Gross Receipts Taxes for North Dakota
QTAXT09QTAXCAT3NDNO
Citation
U.S. Federal Reserve, State Tax Collections: T53 Severance Taxes for Connecticut (QTAXT53QTAXCAT3CTNO), retrieved from FRED.