State Tax Collections: T14 Pari-Mutuels Sales Tax for Maine
QTAXT14QTAXCAT3MENO • 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
This trend measures pari-mutuel sales tax collections in Maine, which is an important revenue source for the state government.
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 Maine series tracks the monthly collections of sales tax on pari-mutuel wagering activities in the state. This data is used by policymakers and economists to monitor revenue streams and the health of the state's gambling industry.
Methodology
The data is collected and reported by the Maine Revenue Services.
Historical Context
Pari-mutuel sales tax is a significant component of Maine's overall tax revenue and can indicate trends in the state's gambling and tourism sectors.
Key Facts
- Maine collects a 10% sales tax on pari-mutuel wagering.
- Pari-mutuel tax revenue accounted for over $10 million in Maine's 2021 fiscal year.
- Pari-mutuel tax collections have declined by 25% since 2015 as the industry faces competition from online gambling.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly collections of the sales tax on pari-mutuel wagering activities in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: Pari-mutuel sales tax is an important revenue source for the Maine government, so this data is closely monitored by policymakers and economists to assess the health of the state's gambling and tourism industries.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Maine Revenue Services.
Q: How is this trend used in economic policy?
A: Pari-mutuel tax revenue is a significant component of Maine's overall tax collections, so this data is used by state officials to forecast budgets and monitor industry trends.
Q: Are there update delays or limitations?
A: The data is reported monthly with a typical 2-3 month lag.
Related Trends
Poverty Tax Exemptions for Arkansas
PEXMAR5A647NCEN
Age 65 and Over Tax Exemptions for Montana
AGEXMMT30A647NCEN
Individual Income Tax Filing: Returns of Married Persons Filing Separately
RTSMPFS
State Tax Collections: T53 Severance Taxes for Maryland
QTAXT53QTAXCAT3MDNO
State Tax Collections: T23 Hunting and Fishing License for Arizona
QTAXT23QTAXCAT3AZNO
State Tax Collections: T41 Corporation Net Income Taxes for Alabama
QTAXT41QTAXCAT3ALNO
Citation
U.S. Federal Reserve, State Tax Collections: T14 Pari-Mutuels Sales Tax for Maine (QTAXT14QTAXCAT3MENO), retrieved from FRED.