State Tax Collections: T53 Severance Taxes for the United States
This dataset tracks state tax collections: t53 severance taxes for the united states over time.
Latest Value
4872.00
Year-over-Year Change
-18.79%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T53 Severance Taxes for the United States' series measures revenue collected by U.S. state governments from taxes on the extraction or harvesting of natural resources, such as oil, gas, coal, and minerals.
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 source of revenue for many resource-rich states, helping to fund public services and infrastructure. This data series provides insights into state-level trends in this key economic indicator.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government tax revenue.
Historical Context
Severance tax collections are closely watched by policymakers, investors, and analysts to assess the fiscal health and economic development of resource-dependent states.
Key Facts
- Severance taxes account for over 15% of total tax revenue in some U.S. states.
- Revenues from severance taxes can be volatile, tracking global commodity price fluctuations.
- The top 3 states by severance tax collections are Texas, Alaska, and Wyoming.
FAQs
Q: What does this economic trend measure?
A: This series tracks the revenue collected by U.S. state governments from taxes on the extraction or harvesting of natural resources, such as oil, gas, coal, and minerals.
Q: Why is this trend relevant for users or analysts?
A: Severance tax collections are an important indicator of the fiscal health and economic development of resource-dependent states, providing insights for policymakers, investors, and analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government tax revenue.
Q: How is this trend used in economic policy?
A: Severance tax collections are closely watched by policymakers to assess the fiscal position of resource-rich states and inform decisions around public spending, taxation, and economic diversification.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 3-month lag, and may be subject to revisions as state-level tax collection information is finalized.
Related News
U.S. Job Growth Slowdown Affects Unemployment Rate
The Impact of Weak Job Growth on the US Unemployment Rate The unemployment rate has always been a vital gauge to understand the United States' economic health. Recent times have brought this indicator into sharper focus, especially as weak job growth continues to challenge the nation’s economy. The pressures of a sluggish labor market may lead to more significant economic consequences, impacting not just the workforce but the broader fiscal landscape. Weak job growth, leading to an increased un
Unpredictability of Interest Rate Direction in the United States
Navigating the Unpredictability of Interest Rates Interest rates have turned into one of the most unpredictable elements in the American financial landscape. This unpredictability stems largely from the nuanced decisions of the Federal Reserve, often referred to as the Fed, whose policies ripple through financial markets, influencing borrowing costs for everyone from ambitious entrepreneurs to families securing mortgages. The web of economic indicators, which serves as the backbone for interest
Impact of U.S. Treasury Yields Rise After Fed Rate Cut
The Impact of a Treasury Yield Rise on the U.S. Economy After a Fed Rate Cut The current rise in the 10-year Treasury bond rate has caught the attention of economists, investors, and policymakers alike. Treasury yields, particularly the 10-year Treasury bond rate, act as a key indicator of the economic outlook in the United States. They affect interest rates, the bond market, and expectations for inflation. Understanding their fluctuations can offer insight into financial markets and help guide
Federal Reserve reduces U.S. interest rates, plans further cuts in 2025
Federal Reserve's Strategic Interest Rate Cut in Focus The Federal Reserve's strategic interest rate cut is a significant move in today's economic climate. As the central banking system of the United States, the Federal Reserve plays a crucial role in setting monetary policy to influence the nation's economy. An interest rate cut defines the decision to lower the cost of borrowing, typically aimed at stimulating economic growth. This latest decision could have considerable effects on the U.S. e
S&P 500 Target Increases Amid Ongoing AI Growth in the US
AI Growth Drives S&P 500 Target Increases AI technology is playing a significant role in propelling S&P 500 target increases, reshaping the United States stock exchange. As Wall Street analysts tune their investment strategies in response to these changes, the S&P 500's rise serves as a mirror reflecting wider economic trends. The increasing targets have brought a new focus to stock market predictions and AI investment, altering the ways both investors and analysts approach the financial landsc
Falling Mortgage Rates: Expert Advice for U.S. Homebuyers and Sellers
Expert Tips for Homebuyers and Sellers as Mortgage Rates Drop Mortgage rates are making headlines as they continue to decline, promising significant impacts on both homebuyers and sellers. These shifts in the real estate landscape invite a closer look at how adjustments in economic indicators, such as the federal funds rate and the 10-year treasury yield chart, are playing a part in this development. The U.S. housing market is reacting in intriguing ways, offering potential advantages for those
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, State Tax Collections: T53 Severance Taxes for the United States (QTAXT53QTAXCAT3USNO), retrieved from FRED.