State Tax Collections: Total Taxes for Texas
QTAXTOTALQTAXCAT3TXNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,317.00
Year-over-Year Change
12.09%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures total tax collections by the state government of Texas. It is an important indicator of Texas' fiscal health and economic activity.
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 Texas series tracks the total revenue from all state-level taxes and fees collected in Texas. This comprehensive metric provides insight into the overall tax burden and funding sources for the state government.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state and local government finances.
Historical Context
Policymakers and analysts use this trend to assess the fiscal position and revenue-generating capacity of the Texas state government.
Key Facts
- Texas has no state personal income tax.
- Sales tax is the largest source of state tax revenue in Texas.
- State tax collections in Texas reached a record high in 2022.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: Total Taxes for Texas series measures the total revenue collected by the Texas state government from all tax sources, including sales, property, corporate, and other state-level taxes and fees.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the fiscal health and economic activity in Texas, as state tax collections are closely tied to business operations, consumer spending, and other economic factors within the state.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state and local government finances.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the fiscal position and revenue-generating capacity of the Texas state government, which informs budgeting, taxation, and other policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, State Tax Collections: Total Taxes for Texas (QTAXTOTALQTAXCAT3TXNO), retrieved from FRED.