State Tax Collections: T11 Amusements Sales Tax for Tennessee
This dataset tracks state tax collections: t11 amusements sales tax for tennessee over time.
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 7/1/2016
Summary
This economic trend measures the sales tax revenue collected on amusement services in the state of Tennessee. It is an important indicator for understanding consumer spending and state fiscal conditions.
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 Tennessee metric tracks the monthly sales tax revenue generated from transactions related to amusement, recreation, and entertainment services within the state. This data provides insights into consumer demand and the financial health of Tennessee's entertainment and tourism sectors.
Methodology
The data is collected and reported by the Tennessee Department of Revenue based on sales tax filings from businesses.
Historical Context
Policymakers and economists analyze this metric to assess economic activity, consumer confidence, and the fiscal position of the state government.
Key Facts
- Tennessee has a 7% state sales tax rate.
- Amusement services make up around 3% of total sales tax collections in Tennessee.
- Amusement sales tax revenue in Tennessee peaked in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly sales tax revenue collected by the state of Tennessee on transactions related to amusement, recreation, and entertainment services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the health of Tennessee's tourism and entertainment sectors, which are important for assessing the state's overall economic conditions and fiscal position.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Tennessee Department of Revenue based on sales tax filings from businesses operating in the state.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to evaluate consumer confidence, tourism activity, and the fiscal health of the state government in Tennessee.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, State Tax Collections: T11 Amusements Sales Tax for Tennessee (QTAXT11QTAXCAT3TNNO), retrieved from FRED.