State Government Tax Collections, Other Selective Sales and Gross Receipts Taxes in South Carolina
SCOTHSLSTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,246,195.00
Year-over-Year Change
275.73%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from other selective sales and gross receipts taxes in South Carolina. It provides insights into a key revenue source for state policymakers.
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, Other Selective Sales and Gross Receipts Taxes in South Carolina' series tracks a specific category of state-level tax revenue. This metric is used by economists and fiscal analysts to understand the tax burden and revenue mix in South Carolina.
Methodology
The data is collected and published by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Historical Context
This economic indicator helps inform fiscal and budgetary decisions for South Carolina state government.
Key Facts
- South Carolina collected $1.3 billion in other selective sales and gross receipts taxes in 2021.
- This tax category accounts for 13% of total state tax revenue in South Carolina.
- Revenues from this source have grown by 25% over the past decade in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax collections from other selective sales and gross receipts taxes by the state government of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into an important revenue source for the state government, which is relevant for understanding South Carolina's fiscal position and tax burden.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Q: How is this trend used in economic policy?
A: This indicator helps inform fiscal and budgetary decisions for the South Carolina state government, including revenue projections and tax policy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a several-month lag, so it may not reflect the most recent tax collections.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Other Selective Sales and Gross Receipts Taxes in South Carolina (SCOTHSLSTAX), retrieved from FRED.