National Totals of State and Local Tax Revenue: T16 Tobacco Products Sales Tax for the United States
This dataset tracks national totals of state and local tax revenue: t16 tobacco products sales tax for the united states over time.
Latest Value
4379.00
Year-over-Year Change
6.03%
Date Range
1/1/1992 - 10/1/2010
Summary
The 'National Totals of State and Local Tax Revenue: T16 Tobacco Products Sales Tax for the United States' tracks revenue from state and local tobacco sales taxes across the U.S. This metric is important for understanding trends in tobacco consumption and assessing the fiscal impacts of related policies.
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 represents the total revenue collected from state and local tobacco sales taxes in the United States. It is a key indicator of the overall tobacco market and can provide insights into consumer behavior, tax policy, and public health outcomes.
Methodology
The data is collected directly from state and local government tax authorities.
Historical Context
Policymakers and analysts use this metric to evaluate the effectiveness of tobacco taxation as a public health and revenue-raising measure.
Key Facts
- Tobacco sales taxes are a major revenue source for many state and local governments.
- Tobacco tax rates and collections have risen significantly in recent decades.
- Tobacco tax policy is often debated for its impact on public health and government budgets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue collected from state and local taxes on tobacco product sales across the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding trends in tobacco consumption and evaluating the fiscal and public health impacts of tobacco taxation policies.
Q: How is this data collected or calculated?
A: The data is collected directly from state and local government tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the effectiveness of tobacco taxation as a public health and revenue-raising measure.
Q: Are there update delays or limitations?
A: There may be lags in data reporting from state and local tax authorities, and the metric does not capture all tobacco-related tax revenue.
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Citation
U.S. Federal Reserve, National Totals of State and Local Tax Revenue: T16 Tobacco Products Sales Tax for the United States (QTAXT16QTAXCAT1USNO), retrieved from FRED.