State Government Tax Collections, Motor Vehicle Licenses in Utah
UTMOTOLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
314,747.00
Year-over-Year Change
98.99%
Date Range
1/1/1951 - 1/1/2024
Summary
The 'State Government Tax Collections, Motor Vehicle Licenses in Utah' metric tracks tax revenue from motor vehicle licenses and registrations collected by the Utah state government. This provides insight into vehicle ownership and usage trends 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 measures the total amount of tax revenue collected by the Utah state government from motor vehicle licenses and registrations. It is an important economic indicator used to analyze transportation infrastructure funding, consumer spending, and broader economic conditions in the state.
Methodology
The data is collected by the Utah State Tax Commission through tax filings and administrative records.
Historical Context
This metric helps inform policymakers and economists about vehicle usage and consumer behavior in Utah's transportation sector.
Key Facts
- Utah collected over $200 million in motor vehicle license taxes in 2021.
- Vehicle license tax revenue has grown by 25% in Utah over the past decade.
- Motor vehicle licenses account for approximately 10% of Utah's state tax collections.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total tax revenue collected by the Utah state government from motor vehicle licenses and registrations.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into vehicle ownership, usage, and consumer spending patterns in Utah, which are important for infrastructure planning, economic analysis, and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the Utah State Tax Commission through tax filings and administrative records.
Q: How is this trend used in economic policy?
A: This metric helps inform policymakers and economists about transportation sector activity and consumer behavior in Utah, which can inform decisions around infrastructure investment, tax policy, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Vehicle Licenses in Utah (UTMOTOLICTAX), retrieved from FRED.