State Government Tax Collections, Public Utilities - Selective Sales Taxes in South Carolina
SCUTILITAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28,571.00
Year-over-Year Change
29.60%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Public Utilities - Selective Sales Taxes in South Carolina' trend measures the revenue from selective sales taxes on public utilities collected by the South Carolina state government. This data provides insight into the state's tax base and fiscal health.
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 tracks the total revenue from selective sales taxes on public utilities, such as electricity, gas, and telecommunications services, paid to the South Carolina state government. It is an important indicator of economic activity and tax policy in the state.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government finances.
Historical Context
This metric is closely watched by policymakers, analysts, and investors to understand the fiscal position and taxing capacity of the South Carolina government.
Key Facts
- South Carolina collected $1.1 billion in public utility sales taxes in 2021.
- Utility taxes account for around 5% of South Carolina's total state tax revenue.
- Public utility tax collections have grown by 15% in South Carolina over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the revenue collected by the South Carolina state government from selective sales taxes on public utilities like electricity, gas, and telecommunications services.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into South Carolina's tax base and fiscal health, which is important for policymakers, economists, and investors analyzing the state's economic and budgetary conditions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government finances.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and investors closely monitor this metric to understand the fiscal position and taxing capacity of the South Carolina government.
Q: Are there update delays or limitations?
A: The data is published quarterly with a slight delay, typically 2-3 months after the end of the reporting period.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Public Utilities - Selective Sales Taxes in South Carolina (SCUTILITAX), retrieved from FRED.