State Tax Collections: T09 General Sales and Gross Receipts Taxes for Maine
This dataset tracks state tax collections: t09 general sales and gross receipts taxes for maine over time.
Latest Value
513.00
Year-over-Year Change
11.28%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend tracks Maine's general sales and gross receipts tax collections, providing insights into consumer spending and state revenue generation.
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 Tax Collections: T09 General Sales and Gross Receipts Taxes for Maine series measures the total amount of sales and gross receipts taxes collected by the state government of Maine. This metric is a key indicator of consumer activity and can inform policymakers and analysts about economic conditions and state fiscal health.
Methodology
The data is collected directly from Maine's state government tax collection agencies.
Historical Context
This trend is closely monitored by state officials, economists, and market analysts to assess Maine's economic performance and fiscal policy.
Key Facts
- Maine's sales tax rate is currently 5.5%.
- Sales tax collections account for over 40% of Maine's total state tax revenue.
- General sales and gross receipts taxes have grown by an average of 3.2% annually in Maine over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of general sales and gross receipts taxes collected by the state government of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and state revenue generation, which are important for assessing Maine's economic performance and fiscal health.
Q: How is this data collected or calculated?
A: The data is collected directly from Maine's state government tax collection agencies.
Q: How is this trend used in economic policy?
A: State officials, economists, and market analysts closely monitor this trend to evaluate Maine's economic conditions and inform fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a slight delay due to the time required for tax collection and reporting.
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Citation
U.S. Federal Reserve, State Tax Collections: T09 General Sales and Gross Receipts Taxes for Maine (QTAXT09QTAXCAT3MENO), retrieved from FRED.