State Tax Collections: T10 Alcoholic Beverages Sales Tax for New Mexico
QTAXT10QTAXCAT3NMNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.00
Year-over-Year Change
66.67%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures state tax collections from sales of alcoholic beverages in New Mexico. It provides important insights into consumer spending and state government revenue.
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: T10 Alcoholic Beverages Sales Tax for New Mexico measures the quarterly tax revenue the state collects from the sale of alcoholic products. This metric is a key indicator of consumer demand and spending patterns in the state's alcohol market.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Taxes.
Historical Context
Policymakers and analysts use this trend to assess the fiscal health and economic conditions in New Mexico.
Key Facts
- New Mexico's alcoholic beverage sales tax rate is 17%.
- Tax collections from alcohol sales account for 2% of the state's total tax revenue.
- Quarterly alcoholic beverage sales tax revenue averaged $25 million in 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly tax revenue the state of New Mexico collects from the sale of alcoholic beverages within its borders.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer spending patterns and state government fiscal conditions in New Mexico.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Taxes.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the fiscal health and economic conditions in New Mexico.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, State Tax Collections: T10 Alcoholic Beverages Sales Tax for New Mexico (QTAXT10QTAXCAT3NMNO), retrieved from FRED.