State Tax Collections: Total Taxes for the United States
This dataset tracks state tax collections: total taxes for the united states over time.
Latest Value
371789.00
Year-over-Year Change
1.37%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic indicator tracks total tax collections by U.S. state governments, providing insights into state fiscal conditions and revenue sources.
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 the United States metric represents the total tax revenue collected by state governments across the country. It is a key measure of state fiscal health and an important input for economic analysis and policymaking.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state tax collection agencies.
Historical Context
This trend is closely monitored by economists, analysts, and policymakers to assess the financial stability and spending capacity of state governments.
Key Facts
- State tax collections account for about 20% of total U.S. government tax revenue.
- Total state tax collections have grown by over 30% in the past decade.
- California, New York, and Texas generate the highest state tax revenues in the U.S.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total tax revenue collected by state governments across the United States, including taxes on income, sales, property, and other sources.
Q: Why is this trend relevant for users or analysts?
A: State tax collections are a key metric for assessing the fiscal health and spending capacity of state governments, making it important for economic analysis, policy decisions, and investment strategies.
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 tax collection agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor state tax collections to gauge the financial stability of state governments and inform decisions about fiscal policy, budgeting, and revenue allocation.
Q: Are there update delays or limitations?
A: The data is typically released quarterly with a delay 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 the United States (QTAXTOTALQTAXCAT3USNO), retrieved from FRED.