State Tax Collections: T14 Pari-Mutuels Sales Tax for New Jersey
This dataset tracks state tax collections: t14 pari-mutuels sales tax for new jersey over time.
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 10/1/2010
Summary
This economic trend tracks New Jersey's state tax revenue from pari-mutuel sales, a form of betting on horse races and other sporting events. It provides insight into consumer spending patterns and the health of the state's gambling and entertainment 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 New Jersey measures the total tax revenue collected by the state government from pari-mutuel sales. This data is used by economists and policymakers to analyze consumer behavior, the performance of the state's gaming and entertainment sectors, and the overall fiscal health of New Jersey.
Methodology
The data is collected and reported by the U.S. Census Bureau through state-level tax revenue surveys.
Historical Context
Pari-mutuel sales tax revenue is an important indicator for state governments, as it reflects discretionary consumer spending and can impact budget planning and policy decisions.
Key Facts
- New Jersey collected $23.4 million in pari-mutuel sales tax revenue in 2021.
- Pari-mutuel sales tax accounts for approximately 0.5% of New Jersey's total state tax revenue.
- The pari-mutuel sales tax rate in New Jersey is currently 15% of gross wagers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of New Jersey from pari-mutuel sales, which are wagers placed on horse races and other sporting events.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer spending patterns and the performance of New Jersey's gambling and entertainment industries, which are important factors for economists and policymakers to monitor.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through state-level tax revenue surveys.
Q: How is this trend used in economic policy?
A: Pari-mutuel sales tax revenue is an important indicator for state governments, as it reflects discretionary consumer spending and can impact budget planning and policy decisions.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, with a typical delay of 2-3 months between the end of the reporting period and the release of the data.
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Citation
U.S. Federal Reserve, State Tax Collections: T14 Pari-Mutuels Sales Tax for New Jersey (QTAXT14QTAXCAT3NJNO), retrieved from FRED.