State Tax Collections: T14 Pari-Mutuels Sales Tax for Tennessee
QTAXT14QTAXCAT3TNNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 7/1/2016
Summary
The State Tax Collections: T14 Pari-Mutuels Sales Tax for Tennessee measures revenue generated from sales taxes on pari-mutuel wagering activities in the state of Tennessee. This data provides insight into the economic activity and consumer behavior in the state's gambling and entertainment sector.
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 total sales tax revenue collected by the state of Tennessee on pari-mutuel betting, such as horse racing and other legalized gambling activities. The data is used by economists and policymakers to monitor consumer trends and evaluate the fiscal impact of the state's gambling industry.
Methodology
The data is collected and reported by the Tennessee Department of Revenue.
Historical Context
This trend is closely watched by state budget analysts and gaming industry stakeholders to understand the broader economic conditions and tax base in Tennessee.
Key Facts
- Tennessee has a 2.75% sales tax on pari-mutuel wagering.
- Pari-mutuel tax collections account for less than 1% of Tennessee's total tax revenue.
- Pari-mutuel tax revenue in Tennessee has declined by 20% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total sales tax revenue collected by the state of Tennessee on pari-mutuel betting activities, such as horse racing and other legalized gambling.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer behavior and economic activity in Tennessee's gambling and entertainment sector, which is useful for policymakers and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Tennessee Department of Revenue.
Q: How is this trend used in economic policy?
A: State budget analysts and gaming industry stakeholders use this data to understand broader economic conditions and the fiscal impact of Tennessee's gambling industry.
Q: Are there update delays or limitations?
A: There may be delays of several months in reporting this data due to the time required for the state to collect and compile the information.
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Citation
U.S. Federal Reserve, State Tax Collections: T14 Pari-Mutuels Sales Tax for Tennessee (QTAXT14QTAXCAT3TNNO), retrieved from FRED.