State Tax Collections: T53 Severance Taxes for Oklahoma
QTAXT53QTAXCAT3OKNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
280.00
Year-over-Year Change
-29.11%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T53 Severance Taxes for Oklahoma' economic trend measures the tax revenue collected by the state of Oklahoma from severance taxes, which are levied on the extraction of natural resources like oil and gas.
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 provides insight into Oklahoma's fiscal health and energy industry activity. Severance taxes are an important revenue source for states with significant natural resource extraction, making this metric valuable for policymakers, analysts, and researchers.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Severance tax collections are closely watched by market participants and policymakers as an indicator of economic conditions and fiscal policy.
Key Facts
- Oklahoma is a major oil and gas producing state.
- Severance taxes provide a significant revenue stream for the state government.
- Tax collections can fluctuate with commodity prices and production levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state of Oklahoma from severance taxes, which are levied on the extraction of natural resources like oil and gas.
Q: Why is this trend relevant for users or analysts?
A: Severance tax collections provide insight into Oklahoma's fiscal health and energy industry activity, making this metric valuable for policymakers, analysts, and researchers.
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 collections are closely watched by market participants and policymakers as an indicator of economic conditions and fiscal policy.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and potential revisions of the U.S. Census Bureau.
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Citation
U.S. Federal Reserve, State Tax Collections: T53 Severance Taxes for Oklahoma (QTAXT53QTAXCAT3OKNO), retrieved from FRED.