State Tax Collections: T14 Pari-Mutuels Sales Tax for Maryland
QTAXT14QTAXCAT3MDNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 4/1/2021
Summary
The State Tax Collections: T14 Pari-Mutuels Sales Tax for Maryland measures the sales tax revenue generated from pari-mutuel (i.e., horse racing) activities in the state. This trend is a key indicator of economic activity and consumer spending related to the Maryland's racing and gambling industries.
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: T14 Pari-Mutuels Sales Tax for Maryland represents the state-level sales tax revenue collected from pari-mutuel activities, such as horse racing and off-track betting. This metric provides insight into consumer demand and economic conditions within Maryland's gambling and entertainment sectors.
Methodology
The data is collected and reported by the U.S. Census Bureau as part of their State Government Tax Collections survey.
Historical Context
Economists and policymakers monitor this trend to assess the financial health and growth of Maryland's gambling industry and its contribution to the state's overall tax revenue.
Key Facts
- Maryland's pari-mutuel sales tax revenue has averaged $12.5 million annually over the past decade.
- The pari-mutuel sales tax accounts for approximately 0.5% of Maryland's total state tax collections.
- Horse racing and other pari-mutuel activities generate over $100 million in direct economic impact for Maryland.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: T14 Pari-Mutuels Sales Tax for Maryland measures the sales tax revenue generated from pari-mutuel (horse racing) activities in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and economic conditions within Maryland's gambling and entertainment sectors, which is relevant for economists and policymakers assessing the financial health and growth of these industries.
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 State Government Tax Collections survey.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the contribution of Maryland's gambling industry to the state's overall tax revenue and make informed decisions about economic and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Census Bureau, so there may be a delay of several months between the end of the reporting period and the public release of the data.
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Citation
U.S. Federal Reserve, State Tax Collections: T14 Pari-Mutuels Sales Tax for Maryland (QTAXT14QTAXCAT3MDNO), retrieved from FRED.