State Tax Collections: T53 Severance Taxes for Louisiana
This dataset tracks state tax collections: t53 severance taxes for louisiana over time.
Latest Value
61.00
Year-over-Year Change
-50.41%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures Louisiana's state tax collections from severance taxes, which are taxes levied on the extraction of natural resources like oil, gas, and minerals. Severance tax revenue is an important indicator of energy and natural resource industry 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: T53 Severance Taxes for Louisiana trend provides data on the quarterly tax revenue collected by the state of Louisiana from severance taxes. Severance taxes are an important source of state government funding, especially in energy-producing regions.
Methodology
The data is collected and reported by the U.S. Census Bureau through their quarterly state government tax revenue surveys.
Historical Context
Severance tax collections are closely watched by policymakers, industry analysts, and investors to gauge Louisiana's economic health and energy industry activity.
Key Facts
- Louisiana is the 5th largest producer of crude oil and the 2nd largest producer of natural gas in the United States.
- Severance taxes account for around 12% of Louisiana's total state tax revenue.
- The state's severance tax rate on oil is 12.5% of the value at the point of production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly tax revenue collected by the state of Louisiana from severance taxes levied on the extraction of natural resources like oil, gas, and minerals.
Q: Why is this trend relevant for users or analysts?
A: Severance tax collections are an important indicator of energy industry activity and economic conditions in Louisiana, a major energy-producing state. This data is closely watched by policymakers, industry analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through their quarterly state government tax revenue surveys.
Q: How is this trend used in economic policy?
A: Severance tax revenue is a significant source of funding for the Louisiana state government, so policymakers use this data to monitor the state's fiscal health and energy industry performance.
Q: Are there update delays or limitations?
A: The severance tax data is reported quarterly by the Census Bureau, so there may be a several month delay between the end of the quarter and the release of the latest figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T53 Severance Taxes for Louisiana (QTAXT53QTAXCAT3LANO), retrieved from FRED.