State Government Tax Collections, Total Selective Sales Taxes in Wisconsin
WITLSLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,894,325.00
Year-over-Year Change
6.44%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total Selective Sales Taxes in Wisconsin' metric measures the total selective sales tax revenue collected by the Wisconsin state government. This data is an important indicator of consumer spending and economic activity 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 represents the total dollar amount of selective sales taxes collected by the Wisconsin state government, including taxes on items such as motor fuels, alcoholic beverages, tobacco products, and other selective sales. Economists and policymakers monitor this data to assess trends in consumer behavior and the overall health of the state's economy.
Methodology
The data is collected and reported by the U.S. Census Bureau based on reports from the Wisconsin Department of Revenue.
Historical Context
This metric is used by economists, analysts, and policymakers to understand the Wisconsin economy and inform decisions related to fiscal policy, revenue forecasting, and economic development.
Key Facts
- Wisconsin collected $3.6 billion in selective sales taxes in 2021.
- Selective sales taxes account for over 20% of Wisconsin's total state tax revenue.
- Motor fuel taxes make up the largest component of Wisconsin's selective sales tax collections.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total dollar amount of selective sales taxes collected by the Wisconsin state government, including taxes on items such as motor fuels, alcoholic beverages, and tobacco products.
Q: Why is this trend relevant for users or analysts?
A: This data is an important indicator of consumer spending and economic activity in Wisconsin, and is used by economists, analysts, and policymakers to understand the state's economy and inform decisions related to fiscal policy and economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau based on reports from the Wisconsin Department of Revenue.
Q: How is this trend used in economic policy?
A: This metric is used by economists, analysts, and policymakers to understand the Wisconsin economy and inform decisions related to fiscal policy, revenue forecasting, and economic development.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, with a typical delay of several months between the end of the reporting period and the data release.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Selective Sales Taxes in Wisconsin (WITLSLTAX), retrieved from FRED.