State Tax Collections: T53 Severance Taxes for Nevada
This dataset tracks state tax collections: t53 severance taxes for nevada over time.
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 1/1/2025
Summary
This series tracks Nevada's state tax collections from severance taxes, which are taxes levied on the extraction of natural resources. Severance tax revenue is an important metric for economists and policymakers monitoring a state's fiscal health and resource-based economic activity.
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 Nevada series measures the quarterly tax revenue the state of Nevada collects from the extraction and production of natural resources within its borders. Severance taxes are a key revenue source for resource-dependent states and provide insight into the strength of the local energy, mining, and extraction industries.
Methodology
The data is collected and published by the U.S. Census Bureau through their Quarterly Summary of State and Local Tax Revenue program.
Historical Context
Severance tax trends are closely watched by state governments, industry analysts, and policymakers to assess the fiscal impacts of resource extraction activity.
Key Facts
- Nevada relies on severance taxes for approximately 3% of its total state tax revenue.
- Severance tax collections in Nevada peaked at over $250 million in 2011.
- The mining industry accounts for the majority of Nevada's severance tax receipts.
FAQs
Q: What does this economic trend measure?
A: This series tracks the quarterly tax revenue collected by the state of Nevada from the extraction and production of natural resources, known as severance taxes.
Q: Why is this trend relevant for users or analysts?
A: Severance tax revenue is an important metric for assessing a state's fiscal health and the strength of its resource-based industries.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau through their Quarterly Summary of State and Local Tax Revenue program.
Q: How is this trend used in economic policy?
A: Severance tax trends are closely monitored by state governments, industry analysts, and policymakers to understand the fiscal impacts of resource extraction activity.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 3-month lag between the reference period and the release date.
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Citation
U.S. Census Bureau, State Tax Collections: T53 Severance Taxes for Nevada (QTAXT53QTAXCAT3NVNO), retrieved from FRED.