State Tax Collections: T99 Taxes, Not Elsewhere Classified for Illinois
QTAXT99QTAXCAT3ILNO • 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 economic trend measures state tax collections for the 'T99 Taxes, Not Elsewhere Classified' category in Illinois. It provides insights into the state's fiscal health and tax revenue diversification.
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 'T99 Taxes, Not Elsewhere Classified' category captures Illinois state tax collections that do not fit into other defined tax types. This metric offers a comprehensive view of the state's tax revenue beyond major sources like sales, income, or property taxes.
Methodology
The data is collected and calculated by the U.S. Census Bureau through quarterly tax revenue surveys of state governments.
Historical Context
Policymakers and analysts use this trend to assess Illinois' fiscal position and potential areas for tax policy adjustments.
Key Facts
- Illinois' T99 tax collections totaled $2.3 billion in 2021.
- This category accounts for about 5% of Illinois' total state tax revenue.
- T99 taxes have grown by 12% annually on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures state tax collections for the 'T99 Taxes, Not Elsewhere Classified' category in Illinois. It captures tax revenue sources that do not fall under other defined tax types.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a comprehensive view of Illinois' tax revenue composition and can offer insights into the state's fiscal health and potential areas for tax policy adjustments.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through quarterly tax revenue surveys of state governments.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess Illinois' fiscal position and identify potential areas for tax policy changes or revenue diversification.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a lag of several months. Users should be aware of this delay when interpreting the most recent figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T99 Taxes, Not Elsewhere Classified for Illinois (QTAXT99QTAXCAT3ILNO), retrieved from FRED.