State Government Tax Collections, General Sales and Gross Receipts Taxes in Maine
MESALESTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,352,375.00
Year-over-Year Change
121.02%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures state government tax collections from general sales and gross receipts taxes in Maine. It provides insights into 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
The State Government Tax Collections, General Sales and Gross Receipts Taxes in Maine metric tracks the total amount of revenue generated by Maine's state government through sales and gross receipts taxes. This data is used by economists and policymakers to analyze consumer spending patterns and the overall health of Maine's economy.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Historical Context
Economists and government officials monitor this trend to assess the strength of consumer demand and economic growth in Maine.
Key Facts
- Maine's sales tax rate is currently 5.5%.
- General sales and gross receipts taxes account for around 40% of Maine's state tax revenue.
- This trend reached a high of $743 million in Q4 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of state government tax revenue collected in Maine through general sales and gross receipts taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending patterns and the overall health of Maine's economy, which is useful for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Economists and government officials monitor this trend to assess the strength of consumer demand and economic growth in Maine, which can inform fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a delay of several months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, General Sales and Gross Receipts Taxes in Maine (MESALESTAX), retrieved from FRED.