State Tax Collections: Total Taxes for Washington
This dataset tracks state tax collections: total taxes for washington over time.
Latest Value
10191.00
Year-over-Year Change
8.23%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic indicator tracks total tax collections by the state government of Washington. It provides insight into the fiscal health and revenue sources of 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 Washington metric measures the overall tax revenues collected by the Washington state government from various sources, including personal income taxes, sales taxes, corporate taxes, and other levies. This data is used by policymakers, economists, and analysts to assess the state's budgetary position and broader economic trends.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
This metric is closely watched by investors, businesses, and government officials to gauge Washington's economic performance and fiscal policy.
Key Facts
- Washington does not have a state personal income tax.
- Sales tax is the largest source of state tax revenue in Washington.
- Total state tax collections in Washington reached a record high in 2021.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: Total Taxes for Washington metric tracks the overall tax revenues collected by the Washington state government from various sources, including personal income taxes, sales taxes, corporate taxes, and other levies.
Q: Why is this trend relevant for users or analysts?
A: This data is used by policymakers, economists, and analysts to assess Washington's budgetary position, revenue sources, and broader economic trends.
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: This metric is closely watched by investors, businesses, and government officials to gauge Washington's economic performance and fiscal policy.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a delay of a few months 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 Washington (QTAXTOTALQTAXCAT3WANO), retrieved from FRED.