State Government Tax Collections, Total Sales and Gross Receipts Taxes in Rhode Island
RISLGRTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,841,178.00
Year-over-Year Change
92.68%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures total sales and gross receipts tax collections by the state government of Rhode Island. It is an important indicator of consumer spending and state tax revenue in the region.
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, Total Sales and Gross Receipts Taxes in Rhode Island metric tracks the total amount of sales and gross receipts tax revenue collected by the Rhode Island state government. This data is used by economists and policymakers to analyze trends in consumer spending, state fiscal conditions, and the broader state economy.
Methodology
The data is collected directly from state government tax collection records.
Historical Context
This metric is closely watched by state budget analysts, revenue forecasters, and economic development officials.
Key Facts
- Rhode Island collects both a state sales tax and a state gross receipts tax.
- Sales and gross receipts taxes account for over half of Rhode Island's state tax revenue.
- Rhode Island's sales and gross receipts tax rate is currently 7%.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total amount of sales and gross receipts taxes collected by the state government of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data is used by economists, policymakers, and budget analysts to understand trends in consumer spending, state fiscal conditions, and the broader state economy.
Q: How is this data collected or calculated?
A: The data is collected directly from state government tax collection records.
Q: How is this trend used in economic policy?
A: This metric is closely watched by state budget analysts, revenue forecasters, and economic development officials to inform fiscal and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a short delay, typically 2-3 months after the end of the reference period.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Sales and Gross Receipts Taxes in Rhode Island (RISLGRTAX), retrieved from FRED.