State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Maine
MEFUELTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
246,826.00
Year-over-Year Change
1.94%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Maine' trend measures selective sales tax revenues collected by the Maine state government from motor fuels. This provides insight into energy consumption 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 economic indicator tracks state-level tax revenues from the sale of motor fuels, such as gasoline and diesel. It offers a window into trends in energy demand, transportation, and overall economic conditions within Maine.
Methodology
The data is collected directly from state government revenue reports.
Historical Context
Policymakers and analysts use this trend to assess the health of Maine's transportation sector and broader economy.
Key Facts
- Maine collects a 30-cent-per-gallon tax on gasoline sales.
- Selective sales taxes account for over 20% of Maine's state tax revenue.
- Motor fuel tax collections declined 8% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The 'State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Maine' trend measures the amount of selective sales tax revenue the state of Maine collects from the sale of motor fuels like gasoline and diesel.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into energy consumption, transportation activity, and overall economic conditions within Maine. It is useful for policymakers, economists, and businesses to assess the health of the state's transportation sector and broader economy.
Q: How is this data collected or calculated?
A: The data is collected directly from state government revenue reports.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the transportation sector and broader economic conditions in Maine, which can inform decisions around infrastructure investment, taxation, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but may have a short delay from the end of the reporting period.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Maine (MEFUELTAX), retrieved from FRED.