State Tax Collections: T14 Pari-Mutuels Sales Tax for North Dakota
QTAXT14QTAXCAT3NDNO • 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 North Dakota measures the revenue generated from sales tax on pari-mutuel betting activities in the state. This data provides insight into consumer spending and economic activity related to the horse racing and gambling industry.
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
This series tracks the quarterly sales tax collected by the state of North Dakota on pari-mutuel betting, which includes revenue from horse racing and other legal gambling activities. It is an important indicator of consumer demand and spending patterns in the state's gambling and entertainment sectors.
Methodology
The data is collected and reported by the North Dakota State Tax Commissioner's office.
Historical Context
Pari-mutuel tax revenues are closely monitored by state policymakers and industry analysts to gauge the health of the local gambling market.
Key Facts
- North Dakota's pari-mutuel sales tax generated over $1.2 million in revenue in 2021.
- The state's pari-mutuel tax rate is currently set at 2% of gross wagering.
- Horse racing is a major part of North Dakota's gambling industry, with several popular racetracks in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly sales tax revenue collected by the state of North Dakota on pari-mutuel betting activities, including horse racing and other legal gambling.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending and economic activity in North Dakota's gambling and entertainment sectors, which is valuable information for policymakers, industry analysts, and economists.
Q: How is this data collected or calculated?
A: The data is collected and reported by the North Dakota State Tax Commissioner's office.
Q: How is this trend used in economic policy?
A: Pari-mutuel tax revenues are closely monitored by state policymakers and industry analysts to gauge the health of the local gambling market and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, State Tax Collections: T14 Pari-Mutuels Sales Tax for North Dakota (QTAXT14QTAXCAT3NDNO), retrieved from FRED.