State Tax Collections: Total Taxes for South Dakota
This dataset tracks state tax collections: total taxes for south dakota over time.
Latest Value
639.00
Year-over-Year Change
6.15%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures total tax collections by the state government of South Dakota. It is an important indicator of economic activity and fiscal health in 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
The State Tax Collections: Total Taxes for South Dakota metric aggregates all tax revenue sources for the state government, including personal income tax, sales tax, corporate income tax, and other levies. It provides a comprehensive view of the state's overall tax collections and fiscal standing.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
Analysts and policymakers use this metric to assess South Dakota's economic and fiscal conditions.
Key Facts
- South Dakota has no personal income tax.
- Sales tax makes up the largest share of the state's tax revenue.
- Total state tax collections in South Dakota were $2.1 billion in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the government of South Dakota, including personal income tax, sales tax, corporate income tax, and other levies.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a comprehensive view of South Dakota's fiscal health and economic activity, which is useful for analysts, policymakers, and others interested in the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess South Dakota's economic and fiscal conditions, which can inform policy decisions and budget planning.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a short delay between the end of the quarter and the release of the latest figures.
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Citation
U.S. Federal Reserve, State Tax Collections: Total Taxes for South Dakota (QTAXTOTALQTAXCAT3SDNO), retrieved from FRED.