State Tax Collections: T53 Severance Taxes for Maine
QTAXT53QTAXCAT3MENO • 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 series tracks quarterly state tax collections from severance taxes in Maine. Severance taxes are levied on the extraction of natural resources, providing important revenue for states with resource-based economies.
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 Maine series measures the quarterly tax revenue collected by the state of Maine on the extraction and production of natural resources, such as timber, minerals, and fossil fuels. This data is used by economists and policymakers to analyze Maine's fiscal health and the performance of its resource extraction industries.
Methodology
The data is collected by the U.S. Census Bureau through quarterly surveys of state tax collection agencies.
Historical Context
Severance tax revenue is a key input for state budget planning and economic policy decisions in resource-dependent regions.
Key Facts
- Maine levies severance taxes on the extraction of timber, minerals, and fossil fuels.
- Severance tax revenue accounts for approximately 5% of Maine's total state tax collections.
- Severance tax rates in Maine range from 2-6% depending on the resource type.
FAQs
Q: What does this economic trend measure?
A: This series tracks the quarterly tax revenue collected by the state of Maine on the extraction and production of natural resources, such as timber, minerals, and fossil fuels.
Q: Why is this trend relevant for users or analysts?
A: Severance tax revenue is an important metric for understanding Maine's fiscal health and the performance of its resource extraction industries, which are crucial to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through quarterly surveys of state tax collection agencies.
Q: How is this trend used in economic policy?
A: Severance tax revenue is a key input for state budget planning and economic policy decisions in resource-dependent regions like Maine.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a typical 3-month lag between the end of the quarter and the public release of the data.
Related Trends
State Tax Collections: T14 Pari-Mutuels Sales Tax for Massachusetts
QTAXT14QTAXCAT3MANO
State Tax Collections: Total Taxes for Oklahoma
QTAXTOTALQTAXCAT3OKNO
Age 65 and Over, Poverty Tax Exemptions for Missouri
PAGEXMMO29A647NCEN
State Tax Collections: T41 Corporation Net Income Taxes for Connecticut
QTAXT41QTAXCAT3CTNO
State Tax Collections: T10 Alcoholic Beverages Sales Tax for South Carolina
QTAXT10QTAXCAT3SCNO
State Tax Collections: T12 Insurance Premiums Sales Tax for Ohio
QTAXT12QTAXCAT3OHNO
Citation
U.S. Federal Reserve, State Tax Collections: T53 Severance Taxes for Maine (QTAXT53QTAXCAT3MENO), retrieved from FRED.