State Tax Collections: T16 Tobacco Products Sales Tax for Minnesota
QTAXT16QTAXCAT3MNNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
127.00
Year-over-Year Change
-6.62%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures tobacco products sales tax collections in the state of Minnesota. It provides important data for policymakers and analysts to understand tax revenue dynamics and consumer behavior.
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 Minnesota series tracks the total tax revenue generated from the sale of tobacco products within the state. This metric is a key indicator of consumption patterns and can inform decisions around public health, fiscal policy, and tax administration.
Methodology
The data is collected and reported by the U.S. Census Bureau based on quarterly tax revenue filings.
Historical Context
Tobacco tax revenues are an important consideration for state governments in managing budgets and pursuing public health objectives.
Key Facts
- Minnesota's tobacco products sales tax rate is 95% of the wholesale price.
- Tobacco tax revenues account for approximately 2% of Minnesota's total state tax collections.
- Tobacco tax collections have declined by 15% in Minnesota over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Minnesota from the sale of tobacco products, such as cigarettes and other tobacco items.
Q: Why is this trend relevant for users or analysts?
A: Tobacco tax revenue is an important indicator for policymakers and analysts to understand consumer behavior, public health outcomes, and state budget dynamics.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau based on quarterly tax revenue filings from the state of Minnesota.
Q: How is this trend used in economic policy?
A: Tobacco tax revenues are a key consideration for state governments in managing budgets and pursuing public health objectives through taxation and regulation.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, with a typical 3-month lag between the end of the reporting period and the public release of the figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Minnesota (QTAXT16QTAXCAT3MNNO), retrieved from FRED.