State Tax Collections: T53 Severance Taxes for District of Columbia
QTAXT53QTAXCAT3DCNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 10/1/2010
Summary
This economic indicator tracks state tax collections from severance taxes in the District of Columbia. Severance taxes are levied on the extraction or production of natural resources, providing insights into the local economy and government revenue.
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: T53 Severance Taxes for District of Columbia series measures the total revenue collected by the District of Columbia government from taxes on the extraction or production of natural resources. This data point is used by economists and policymakers to analyze economic activity, government budgets, and natural resource industries.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Severance tax revenues are an important component of state and local government budgets, particularly in regions with active natural resource industries.
Key Facts
- Severance taxes account for over 10% of total tax revenue in some energy-producing states.
- Severance tax rates vary widely across U.S. states, from less than 1% to over 12% of production value.
- Tax revenues from severance taxes can be volatile, fluctuating with commodity prices and extraction levels.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total tax revenue collected by the District of Columbia government from severance taxes, which are levied on the extraction or production of natural resources.
Q: Why is this trend relevant for users or analysts?
A: Severance tax revenues are an important component of state and local government budgets, particularly in regions with active natural resource industries. This data provides insights into economic activity and government finances.
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: Severance tax revenue data is used by economists and policymakers to analyze the economic health of natural resource-dependent regions and the fiscal position of state and local governments.
Q: Are there update delays or limitations?
A: There may be delays in reporting and publishing the data, as it is compiled from state-level tax collection records.
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Citation
U.S. Federal Reserve, State Tax Collections: T53 Severance Taxes for District of Columbia (QTAXT53QTAXCAT3DCNO), retrieved from FRED.