State Government Tax Collections, Death and Gift Taxes in Rhode Island
RIDTHGFTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,583.00
Year-over-Year Change
22.49%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from death and gift taxes in Rhode Island. It is an important indicator of state fiscal health and government 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 Government Tax Collections, Death and Gift Taxes in Rhode Island data series tracks the tax revenue collected by the Rhode Island state government from inheritance, estate, and gift taxes. This provides insight into the state's tax base and the financial resources available for public services and programs.
Methodology
The data is collected and reported by the U.S. Census Bureau's Annual Survey of State Government Tax Collections.
Historical Context
This trend is closely monitored by state policymakers, economists, and analysts to understand Rhode Island's fiscal position and guide budgeting and tax policy decisions.
Key Facts
- Rhode Island collected $36.3 million in death and gift taxes in 2021.
- Death and gift taxes account for about 2% of Rhode Island's total state tax revenue.
- Inheritance tax collections have declined in recent years due to federal tax law changes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the Rhode Island state government from inheritance, estate, and gift taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into a key source of state government revenue in Rhode Island, which is important for assessing the state's fiscal health and informing tax and budget policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau's Annual Survey of State Government Tax Collections.
Q: How is this trend used in economic policy?
A: State policymakers, economists, and analysts closely monitor this trend to understand Rhode Island's fiscal position and guide budgeting and tax policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in availability compared to real-time economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Death and Gift Taxes in Rhode Island (RIDTHGFTAX), retrieved from FRED.