State Tax Collections: T16 Tobacco Products Sales Tax for Ohio
QTAXT16QTAXCAT3OHNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
164.00
Year-over-Year Change
-18.81%
Date Range
1/1/1994 - 1/1/2025
Summary
The State Tax Collections: T16 Tobacco Products Sales Tax for Ohio measures monthly tobacco product sales tax revenue collected by the state of Ohio. This metric is important for economists and policymakers to track tobacco consumption trends and evaluate the fiscal impacts of tobacco 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 Ohio represents the total sales tax revenue generated from the sale of tobacco products within the state. This data provides insight into consumer demand and the overall tobacco market in Ohio, which informs tax policy, public health initiatives, and state budgeting.
Methodology
The data is collected by the U.S. Census Bureau through mandatory state tax reporting.
Historical Context
Policymakers and economists use this metric to analyze the effects of tobacco taxes on consumer behavior and state revenue.
Key Facts
- Ohio collected $27.2 million in tobacco product sales tax revenue in January 2023.
- Tobacco sales tax revenue has declined by 7.2% in Ohio over the past 5 years.
- The state tobacco sales tax rate in Ohio is 17% of the wholesale price.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: T16 Tobacco Products Sales Tax for Ohio measures the monthly revenue generated from the sales tax on tobacco products in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding tobacco consumption patterns and evaluating the fiscal impact of tobacco taxes in Ohio.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through mandatory state tax reporting.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze the effects of tobacco taxes on consumer behavior and state revenue.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, so it provides timely insights on the Ohio tobacco market.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Ohio (QTAXT16QTAXCAT3OHNO), retrieved from FRED.