State Tax Collections: T16 Tobacco Products Sales Tax for Idaho
QTAXT16QTAXCAT3IDNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.00
Year-over-Year Change
-20.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures tobacco products sales tax collections in the state of Idaho. It provides valuable insights into consumer behavior and tax revenue for policymakers.
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 Idaho series tracks the total sales tax revenue generated from the sale of tobacco products in the state. This metric is used to analyze consumer demand, assess tax policy effectiveness, and forecast state budget revenues.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
This trend is closely monitored by state governments, public health agencies, and tobacco industry analysts.
Key Facts
- Idaho's tobacco products sales tax rate is currently 57 cents per pack.
- Tobacco tax collections account for approximately 2% of Idaho's total state tax revenue.
- Tobacco use has declined in Idaho over the past decade, impacting tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total sales tax revenue generated from the sale of tobacco products in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer behavior and tax policy effectiveness, which are important for state budgeting and public health initiatives.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: State governments, public health agencies, and tobacco industry analysts closely monitor this trend to inform tax policy, budget planning, and public health initiatives.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a delay of up to three months in the most recent figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Idaho (QTAXT16QTAXCAT3IDNO), retrieved from FRED.