State Tax Collections: T53 Severance Taxes for Kentucky
This dataset tracks state tax collections: t53 severance taxes for kentucky over time.
Latest Value
30.00
Year-over-Year Change
7.14%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T53 Severance Taxes for Kentucky' economic trend measures taxes levied on the extraction or harvesting of natural resources in the state of Kentucky.
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
This trend represents revenue collected by the state government of Kentucky from severance taxes, which are imposed on the extraction or harvesting of natural resources such as coal, oil, gas, and timber. Severance tax data is an important indicator of economic activity and resource production in the state.
Methodology
The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.
Historical Context
Severance tax data is used by policymakers, analysts, and businesses to monitor Kentucky's resource-based industries and economic conditions.
Key Facts
- Kentucky collects severance taxes on coal, oil, gas, and timber extraction.
- Severance tax revenue helps fund Kentucky's state budget and public services.
- Trends in severance taxes reflect the health of Kentucky's resource-based industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state of Kentucky from severance taxes, which are levied on the extraction or harvesting of natural resources such as coal, oil, gas, and timber.
Q: Why is this trend relevant for users or analysts?
A: Severance tax data is an important indicator of economic activity and resource production in Kentucky, and is used by policymakers, analysts, and businesses to monitor the state's resource-based industries and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.
Q: How is this trend used in economic policy?
A: Severance tax data is used by policymakers in Kentucky to monitor the state's resource-based industries and inform decisions about taxation, budgeting, and economic development policies.
Q: Are there update delays or limitations?
A: The severance tax data is reported quarterly by the U.S. Census Bureau, so there may be a slight delay in the availability of the most recent data.
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Citation
U.S. Federal Reserve, State Tax Collections: T53 Severance Taxes for Kentucky (QTAXT53QTAXCAT3KYNO), retrieved from FRED.