State Tax Collections: Total Taxes for New Jersey
QTAXTOTALQTAXCAT3NJNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,099.00
Year-over-Year Change
8.77%
Date Range
1/1/1994 - 1/1/2025
Summary
This data series measures the total tax collections for the state of New Jersey, providing insights into the fiscal health and revenue sources of the state government.
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: Total Taxes for New Jersey data series tracks the comprehensive tax receipts collected by the state government from various sources, including personal income tax, sales tax, corporate taxes, and other levies. This metric is a key indicator of New Jersey's economic and fiscal conditions, and is widely used by policymakers, economists, and analysts to assess the state's budgetary position and revenue streams.
Methodology
The data is collected and reported by the U.S. Census Bureau through quarterly surveys of state government finance.
Historical Context
This trend is closely monitored by policymakers, bond markets, and economic analysts to gauge New Jersey's fiscal policies and revenue-generating capacity.
Key Facts
- New Jersey collected over $50 billion in total taxes in 2021.
- Sales tax accounts for the largest share of New Jersey's tax revenue.
- Tax collections declined during the COVID-19 pandemic but have since rebounded.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total tax revenue collected by the state government of New Jersey from various sources, including personal income tax, sales tax, corporate taxes, and other levies.
Q: Why is this trend relevant for users or analysts?
A: The State Tax Collections: Total Taxes for New Jersey metric is a key indicator of the state's fiscal health and economic conditions, and is closely monitored by policymakers, bond markets, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through quarterly surveys of state government finance.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, bond markets, and economic analysts to gauge New Jersey's fiscal policies, revenue-generating capacity, and overall economic performance.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, with a typical lag of several months between the end of the quarter and the data release.
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Citation
U.S. Federal Reserve, State Tax Collections: Total Taxes for New Jersey (QTAXTOTALQTAXCAT3NJNO), retrieved from FRED.