State Tax Collections: T53 Severance Taxes for South Dakota
This dataset tracks state tax collections: t53 severance taxes for south dakota over time.
Latest Value
3.00
Year-over-Year Change
50.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic indicator measures South Dakota's severance tax collections, which are taxes levied on the extraction or harvesting of natural resources within 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
Severance taxes are an important revenue source for resource-rich states like South Dakota. The data provides insight into economic activity and tax policy related to the state's energy and mining sectors.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Severance tax trends are closely monitored by policymakers and industry analysts to understand the fiscal health and economic conditions of resource-dependent states.
Key Facts
- South Dakota is a major producer of crude oil, natural gas, and metallic minerals.
- Severance taxes provide a significant portion of South Dakota's state government revenue.
- Severance tax collections can fluctuate significantly based on commodity prices and production levels.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks South Dakota's severance tax collections, which are taxes levied on the extraction or harvesting of natural resources within the state.
Q: Why is this trend relevant for users or analysts?
A: Severance tax data provides insight into the economic activity and fiscal health of resource-dependent states like South Dakota.
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 trends are closely monitored by policymakers and industry analysts to understand state fiscal conditions and the performance of key economic sectors.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological practices of the U.S. Census Bureau.
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Citation
U.S. Federal Reserve, State Tax Collections: T53 Severance Taxes for South Dakota (QTAXT53QTAXCAT3SDNO), retrieved from FRED.