State Tax Collections: T16 Tobacco Products Sales Tax for Massachusetts
QTAXT16QTAXCAT3MANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66.00
Year-over-Year Change
-23.26%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures the quarterly tax collections from tobacco product sales in Massachusetts. It provides insights into consumer spending and tax revenue trends related to tobacco consumption in the state.
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 Massachusetts series tracks the total tax revenue generated from the sale of tobacco products in the state. This data is used by policymakers, economists, and analysts to understand consumer behavior and the fiscal impacts of tobacco taxation.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state tax collection agencies.
Historical Context
This trend is relevant for monitoring the tobacco market and evaluating the effectiveness of state tobacco tax policies.
Key Facts
- Massachusetts collects a 24.75% tax on tobacco products.
- Tobacco tax revenue accounted for 1.4% of Massachusetts's total tax collections in 2021.
- E-cigarette sales are not included in this tobacco tax data.
FAQs
Q: What does this economic trend measure?
A: This series measures the total tax revenue collected by the state of Massachusetts on the sale of tobacco products, including cigarettes, cigars, and other tobacco items.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending on tobacco products and the fiscal impact of tobacco taxation in Massachusetts, which is relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state tax collection agencies.
Q: How is this trend used in economic policy?
A: This trend is used to monitor the tobacco market and evaluate the effectiveness of state tobacco tax policies in terms of revenue generation and impact on consumer behavior.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of the quarter and the release of the latest data, and the data does not include revenue from e-cigarette sales.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Massachusetts (QTAXT16QTAXCAT3MANO), retrieved from FRED.