National Totals of State and Local Tax Revenue: T16 Tobacco Products Sales Tax, 4 Quarters Ending for the United States
This dataset tracks national totals of state and local tax revenue: t16 tobacco products sales tax, 4 quarters ending for the united states over time.
Latest Value
17631.00
Year-over-Year Change
8.65%
Date Range
1/1/1992 - 10/1/2010
Summary
This economic trend measures quarterly state and local tobacco products sales tax revenue in the United States. It is an important indicator of tax collection and consumer behavior related to tobacco products.
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 National Totals of State and Local Tax Revenue: T16 Tobacco Products Sales Tax trend tracks the aggregate revenue generated by state and local governments from the sales tax on tobacco products. This data provides insights into tobacco consumption patterns and the fiscal impact of tobacco taxation policies.
Methodology
The data is collected and calculated by the U.S. Census Bureau based on reports from state and local tax authorities.
Historical Context
This trend is closely monitored by policymakers, public health experts, and the tobacco industry to understand the effects of tax and regulatory policies on tobacco consumption and government revenues.
Key Facts
- Tobacco sales tax revenue accounts for approximately 1% of total state and local tax collections.
- The U.S. tobacco tax revenue reached a peak of $22.4 billion in 2012.
- Tobacco tax rates vary widely across states, from $0.17 per pack in Missouri to $4.35 per pack in New York.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly state and local tax revenue generated from the sales of tobacco products in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer behavior and the fiscal impact of tobacco taxation policies, which are of interest to policymakers, public health experts, and the tobacco industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau based on reports from state and local tax authorities.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers to understand the effects of tax and regulatory policies on tobacco consumption and government revenues.
Q: Are there update delays or limitations?
A: The data is released quarterly, and there may be some delays in reporting from state and local tax authorities.
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Citation
U.S. Federal Reserve, National Totals of State and Local Tax Revenue: T16 Tobacco Products Sales Tax, 4 Quarters Ending for the United States (QTAXT164QEQTAXCAT1USNO), retrieved from FRED.