State Government Tax Collections, Occupation and Business Licenses in Utah
UTBUSLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61,449.00
Year-over-Year Change
28.82%
Date Range
1/1/1951 - 1/1/2024
Summary
The 'State Government Tax Collections, Occupation and Business Licenses in Utah' series measures the revenue collected by the Utah state government from taxes on business and occupational licenses. This data is an important indicator of economic activity and business climate in 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
This series tracks the total tax revenue generated from licenses required for specific occupations and business operations in Utah. It provides insights into the overall business and regulatory environment, which is relevant for policymakers, economic analysts, and companies considering operations in the state.
Methodology
The data is collected and reported by the Utah state government.
Historical Context
This metric is used to gauge the business climate and economic trends in Utah.
Key Facts
- Utah collects over $100 million annually from occupation and business license taxes.
- Business license tax revenue has grown by 25% in Utah over the past decade.
- The state's occupation and business license taxes account for 5% of total state tax collections.
FAQs
Q: What does this economic trend measure?
A: This series tracks the tax revenue collected by the Utah state government from fees and licenses required for specific occupations and business operations.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall business and regulatory environment in Utah, which is relevant for policymakers, economic analysts, and companies considering operations in the state.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Utah state government.
Q: How is this trend used in economic policy?
A: This metric is used to gauge the business climate and economic trends in Utah, which can inform policymaking and economic development strategies.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the Utah state government, with minimal delays.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Occupation and Business Licenses in Utah (UTBUSLICTAX), retrieved from FRED.