State Tax Collections: Total Taxes for Utah
This dataset tracks state tax collections: total taxes for utah over time.
Latest Value
3476.00
Year-over-Year Change
6.95%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: Total Taxes for Utah' metric tracks the total tax revenue collected by the state government of Utah. This data point is important for economists and policymakers to understand the fiscal health and economic activity within 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
This series measures the total tax collections, including income, sales, and other taxes, for the state of Utah. It provides insight into the overall tax burden and revenue generation capacity of the Utah state government, which is crucial for fiscal planning and policy analysis.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess the economic conditions and fiscal position of the state of Utah.
Key Facts
- Utah's total tax collections reached a record high in 2021.
- Sales tax accounts for the largest share of Utah's total tax revenue.
- The state's tax collections have grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'State Tax Collections: Total Taxes for Utah' metric measures the total tax revenue collected by the state government of Utah, including income, sales, and other taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the fiscal health and economic activity within the state of Utah, which is crucial for economists, policymakers, and market analysts to assess.
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 government finances.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and market analysts to assess the economic conditions and fiscal position of the state of Utah, which informs policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical delay of several months between the end of the reporting period and the public release of the data.
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Citation
U.S. Federal Reserve, State Tax Collections: Total Taxes for Utah (QTAXTOTALQTAXCAT3UTNO), retrieved from FRED.