State Tax Collections: T14 Pari-Mutuels Sales Tax for Virginia
This dataset tracks state tax collections: t14 pari-mutuels sales tax for virginia over time.
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 Virginia' measures the revenue generated from sales tax on pari-mutuel betting activities in the state of Virginia. This metric is important for economists and policymakers to understand trends in consumer spending and tax revenue.
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 trend represents the sales tax collected on pari-mutuel betting, such as at racetracks and off-track betting facilities, in the state of Virginia. The data is used to analyze consumer demand for gambling services and the resulting tax implications for state budgets.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local tax authorities.
Historical Context
Pari-mutuel tax revenue is a key input for state fiscal policy and budget planning.
Key Facts
- Virginia collected $13.2 million in pari-mutuel sales tax in 2021.
- Pari-mutuel tax revenue has declined by 20% in Virginia over the past decade.
- Virginia has two active thoroughbred racetracks that generate pari-mutuel tax.
FAQs
Q: What does this economic trend measure?
A: This trend measures the sales tax revenue collected by the state of Virginia on pari-mutuel betting activities, such as at racetracks and off-track betting facilities.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding trends in consumer spending on gambling services and the resulting tax implications for state budgets.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local tax authorities.
Q: How is this trend used in economic policy?
A: Pari-mutuel tax revenue is a key input for state fiscal policy and budget planning in Virginia.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a 3-month lag.
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Citation
U.S. Federal Reserve, State Tax Collections: T14 Pari-Mutuels Sales Tax for Virginia (QTAXT14QTAXCAT3VANO), retrieved from FRED.