State Government Tax Collections, Tobacco Products - Selective Sales Taxes in Pennsylvania
PATOBACTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
959,854.00
Year-over-Year Change
-14.22%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Tobacco Products - Selective Sales Taxes in Pennsylvania' trend measures the revenue collected by the Pennsylvania state government from taxes on tobacco products.
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 trend represents an important revenue stream for the Pennsylvania state government, as tobacco excise taxes are a significant component of its fiscal policy. Economists and policymakers analyze this data to understand trends in consumer behavior, public health impacts, and the state's overall fiscal position.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance.
Historical Context
This trend is closely watched by state legislators, public health advocates, and the tobacco industry.
Key Facts
- Pennsylvania collected over $1 billion in tobacco taxes in 2021.
- Tobacco tax revenue accounts for 2.5% of Pennsylvania's total state tax collections.
- The state's tobacco tax rate is $2.60 per pack of cigarettes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the revenue collected by the Pennsylvania state government from taxes on tobacco products, including cigarettes, cigars, and other tobacco items.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding Pennsylvania's fiscal position, as well as trends in consumer behavior and public health impacts related to tobacco use.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to inform fiscal and public health policies related to tobacco taxation and consumption.
Q: Are there update delays or limitations?
A: The data is typically published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Tobacco Products - Selective Sales Taxes in Pennsylvania (PATOBACTAX), retrieved from FRED.