State Government Tax Collections, Corporations in General Licenses in West Virginia
WVCORPLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,961.00
Year-over-Year Change
-54.64%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Corporations in General Licenses in West Virginia' metric tracks corporate tax revenue collected by the state government of West Virginia. This provides insight into the overall business and economic environment within 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 tax revenue collected by the West Virginia state government from corporate licenses and general business taxes. It serves as an indicator of corporate activity and profitability within the state, which is relevant for policymakers and economic analysts assessing the state's fiscal health and business climate.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government tax collection agencies.
Historical Context
This trend is closely watched by state officials, businesses, and economists to gauge West Virginia's economic performance and the tax burden on corporations.
Key Facts
- West Virginia collected $193 million in corporate taxes in 2021.
- Corporate tax revenue accounts for about 5% of West Virginia's total state tax collections.
- The corporate tax rate in West Virginia is 6.5%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the West Virginia state government from corporate licenses and general business taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the overall business and economic environment within West Virginia, which is relevant for policymakers and economic analysts assessing the state's fiscal health and business climate.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government tax collection agencies.
Q: How is this trend used in economic policy?
A: This trend is closely watched by state officials, businesses, and economists to gauge West Virginia's economic performance and the tax burden on corporations.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a delay of several months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Corporations in General Licenses in West Virginia (WVCORPLICTAX), retrieved from FRED.