State Tax Collections: T16 Tobacco Products Sales Tax for Iowa
QTAXT16QTAXCAT3IANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.00
Year-over-Year Change
-20.45%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures tobacco products sales tax collections in the state of Iowa. It is an important indicator for state policymakers and analysts tracking revenue from excise taxes.
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 State Tax Collections: T16 Tobacco Products Sales Tax for Iowa measures the total revenue collected by the state government from taxes levied on the sale of tobacco products. This data is used to understand trends in state tax revenue and inform fiscal policy decisions.
Methodology
The data is collected directly from state-level tax administration records.
Historical Context
Tobacco tax revenues are a key component of many states' budgets and fiscal policy considerations.
Key Facts
- Iowa's tobacco products sales tax rate is currently 50% of the wholesale price.
- Tobacco tax revenues account for about 2% of Iowa's total state tax collections.
- Iowa allocates a portion of its tobacco tax revenue to public health and anti-smoking programs.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: T16 Tobacco Products Sales Tax for Iowa measures the total revenue collected by the Iowa state government from taxes levied on the sale of tobacco products within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, budget analysts, and researchers studying state fiscal policy and revenue sources, as tobacco tax collections are an important component of many states' budgets.
Q: How is this data collected or calculated?
A: The data is collected directly from Iowa state-level tax administration records.
Q: How is this trend used in economic policy?
A: Tobacco tax revenues are used by state governments to fund public health initiatives, anti-smoking programs, and general budget expenditures, making this trend relevant for policymakers and fiscal analysts.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so there may be a delay in reflecting the most recent tax collection figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Iowa (QTAXT16QTAXCAT3IANO), retrieved from FRED.