State Tax Collections: T14 Pari-Mutuels Sales Tax for Ohio
This dataset tracks state tax collections: t14 pari-mutuels sales tax for ohio over time.
Latest Value
1.00
Year-over-Year Change
0.00%
Date Range
1/1/1994 - 4/1/2021
Summary
The State Tax Collections: T14 Pari-Mutuels Sales Tax for Ohio measures the revenue generated from sales tax on pari-mutuel betting in the state of Ohio. This trend is important for economists and policymakers to understand the performance of Ohio's gambling and entertainment sectors.
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 economic indicator tracks the monthly sales tax revenue collected by the state of Ohio from pari-mutuel betting activities, such as horse racing and other types of legalized gambling. It provides insight into consumer spending patterns and the overall health of Ohio's gaming industry.
Methodology
The data is collected directly from state tax authorities and calculated based on reported sales tax receipts.
Historical Context
Pari-mutuel tax revenues are closely monitored by state and local governments to assess the fiscal impact of gambling and entertainment industries.
Key Facts
- Ohio's pari-mutuel sales tax generated over $20 million in revenue in 2021.
- Pari-mutuel betting accounts for approximately 5% of Ohio's total sales tax collections.
- The state's pari-mutuel tax rate is currently set at 3% of gross betting handle.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: T14 Pari-Mutuels Sales Tax for Ohio measures the revenue generated from the sales tax on pari-mutuel betting, such as horse racing and other legalized gambling activities, in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into consumer spending patterns and the overall performance of Ohio's gambling and entertainment sectors, which is relevant for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from state tax authorities and calculated based on reported sales tax receipts from pari-mutuel betting activities.
Q: How is this trend used in economic policy?
A: Pari-mutuel tax revenues are closely monitored by state and local governments to assess the fiscal impact of gambling and entertainment industries, which can inform policy decisions and budgeting.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a lag of several weeks or months before the most recent information is available.
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Citation
U.S. Federal Reserve, State Tax Collections: T14 Pari-Mutuels Sales Tax for Ohio (QTAXT14QTAXCAT3OHNO), retrieved from FRED.