State Tax Collections: T11 Amusements Sales Tax for Illinois
QTAXT11QTAXCAT3ILNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
354.00
Year-over-Year Change
30.63%
Date Range
1/1/1994 - 1/1/2025
Summary
This series tracks Illinois' amusements sales tax collections, which provide insights into consumer spending on entertainment and recreational activities 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 Tax Collections: T11 Amusements Sales Tax for Illinois measures the revenue generated from the state's sales tax on amusement-related purchases, such as tickets for concerts, sporting events, and other leisure activities. This metric serves as an indicator of consumer demand and confidence within the Illinois entertainment sector.
Methodology
The data is collected and reported by the U.S. Census Bureau as part of their quarterly state and local government tax revenue series.
Historical Context
Policymakers and economists analyze this metric to gauge the overall health of Illinois' consumer economy and make informed decisions about fiscal policies and economic development strategies.
Key Facts
- Illinois collects a 6.25% state sales tax on amusement-related purchases.
- Amusements sales tax revenue accounts for approximately 2% of Illinois' total state tax collections.
- The amusements sales tax trend is considered a leading indicator of consumer confidence in the state.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: T11 Amusements Sales Tax for Illinois measures the revenue generated from the state's sales tax on amusement-related purchases, such as tickets for concerts, sporting events, and other leisure activities.
Q: Why is this trend relevant for users or analysts?
A: This metric serves as an indicator of consumer demand and confidence within the Illinois entertainment sector, providing insights into the overall health of the state's consumer economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of their quarterly state and local government tax revenue series.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to gauge the overall health of Illinois' consumer economy and make informed decisions about fiscal policies and economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Census Bureau, with a typical 3-month lag between the end of the reference period and the publication of the data.
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Citation
U.S. Federal Reserve, State Tax Collections: T11 Amusements Sales Tax for Illinois (QTAXT11QTAXCAT3ILNO), retrieved from FRED.