State Tax Collections: T16 Tobacco Products Sales Tax for Delaware
This dataset tracks state tax collections: t16 tobacco products sales tax for delaware over time.
Latest Value
21.00
Year-over-Year Change
-19.23%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T16 Tobacco Products Sales Tax for Delaware' series measures the revenue collected from tobacco product sales taxes in the state of Delaware. This metric is important for economists and policymakers to analyze fiscal trends and the impact of tax 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 economic indicator tracks the total tax revenue generated from the sale of tobacco products, such as cigarettes and other tobacco items, within the state of Delaware. It provides insight into consumer purchasing patterns, as well as the state government's ability to generate tax income from this source.
Methodology
The data is collected and reported by the U.S. Census Bureau as part of its State Tax Collection program.
Historical Context
This trend is used by policymakers, economists, and market analysts to assess the fiscal health of the state and the impact of tobacco taxation policies.
Key Facts
- Delaware collected $31.9 million in tobacco product sales tax revenue in 2021.
- Tobacco taxes account for approximately 2% of Delaware's total state tax revenue.
- The tobacco sales tax rate in Delaware is currently set at 16% of the wholesale price.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Delaware from the sale of tobacco products, such as cigarettes and other tobacco items.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists, policymakers, and market analysts to assess the fiscal health of the state, consumer purchasing patterns, and the impact of tobacco taxation policies.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of its State Tax Collection program.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers to analyze the state's fiscal health and the effectiveness of tobacco taxation policies in generating tax revenue.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical release lag of 3-6 months.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Delaware (QTAXT16QTAXCAT3DENO), retrieved from FRED.