State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Wisconsin
WIFUELTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,095,905.00
Year-over-Year Change
11.26%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Wisconsin' trend measures the revenue generated from taxes on the sale of motor fuels in the state of Wisconsin. This metric is important for policymakers and economists to understand trends in transportation-related tax revenue.
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 collected by the Wisconsin state government from taxes levied on the sale of motor fuels such as gasoline and diesel. It provides insight into consumption patterns and the state's ability to fund transportation infrastructure and services.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government revenue sources.
Historical Context
This trend is used by policymakers, transportation agencies, and economic analysts to monitor fuel tax revenue and inform decisions around infrastructure investment, transportation policy, and state budgeting.
Key Facts
- Wisconsin's motor fuels tax rate is $0.329 per gallon as of 2022.
- Motor fuels taxes accounted for over $1 billion in Wisconsin state revenue in 2021.
- Fuel tax collections can fluctuate with changes in driving patterns and vehicle efficiency.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Wisconsin from taxes levied on the sale of motor fuels such as gasoline and diesel.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for policymakers and economists to understand trends in transportation-related tax revenue, which can inform decisions around infrastructure investment, transportation policy, and state budgeting.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government revenue sources.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, transportation agencies, and economic analysts to monitor fuel tax revenue and its implications for the state's ability to fund transportation infrastructure and services.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential limitations in capturing all revenue sources, but the Census Bureau provides the most comprehensive and authoritative data on state tax collections.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Wisconsin (WIFUELTAX), retrieved from FRED.