State Government Tax Collections, Public Utilities - Selective Sales Taxes in Maine
MEUTILITAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,837.00
Year-over-Year Change
-20.00%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures selective sales taxes collected by the state government of Maine on public utilities. It provides insights into Maine's tax revenue from electricity, gas, and other utility services.
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, Public Utilities - Selective Sales Taxes in Maine metric tracks the revenue the state government collects from sales taxes on utility services like electricity, natural gas, and other public utilities. This data is used by economists and policymakers to analyze Maine's tax base and assess the fiscal health of the state.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Trends in utility tax collections are monitored by economists and state budget analysts to understand the impacts of policy changes or economic conditions on government revenues.
Key Facts
- Maine collected $83.9 million in utility sales taxes in 2021.
- Utility taxes account for about 3% of Maine's total state tax revenue.
- Utility tax collections in Maine have grown by 28% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the selective sales taxes collected by the state government of Maine on public utility services such as electricity, natural gas, and other utilities.
Q: Why is this trend relevant for users or analysts?
A: Trends in utility tax collections provide insights into Maine's tax revenue base and are used by economists and policymakers to assess the state's fiscal health and the impacts of policy changes.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Utility tax collection data is monitored by state budget analysts and economists to understand the fiscal impacts of policy changes or economic conditions on government revenues.
Q: Are there update delays or limitations?
A: The data is published periodically by the Census Bureau with some potential for lag in reporting.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Public Utilities - Selective Sales Taxes in Maine (MEUTILITAX), retrieved from FRED.