State Tax Collections: T16 Tobacco Products Sales Tax for West Virginia
This dataset tracks state tax collections: t16 tobacco products sales tax for west virginia over time.
Latest Value
32.00
Year-over-Year Change
-17.95%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the quarterly tobacco products sales tax collections for the state of West Virginia. It provides valuable insights into consumer behavior and tax revenue generation related to tobacco products.
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 West Virginia series tracks the total revenue collected by the state government through taxes levied on the sale of tobacco products. This data is used by policymakers and economists to analyze the impact of taxation on tobacco consumption and its implications for public health and fiscal policy.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Historical Context
Trends in tobacco tax collections are closely monitored by government agencies, public health organizations, and the tobacco industry as they inform policy decisions and market dynamics.
Key Facts
- West Virginia collected $25.7 million in tobacco products sales tax in Q4 2022.
- Tobacco tax revenue accounts for 2.3% of West Virginia's total state tax collections.
- Tobacco tax rates in West Virginia are among the lowest in the nation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly tobacco products sales tax collections for the state of West Virginia. It provides insights into consumer behavior and tax revenue generation related to tobacco products.
Q: Why is this trend relevant for users or analysts?
A: Trends in tobacco tax collections are closely monitored by policymakers, public health organizations, and the tobacco industry as they inform policy decisions and market dynamics.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Tobacco tax revenue is an important source of funding for state governments, and trends in this data are used to inform public health and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and may not capture all tax collections due to differences in state reporting practices.
Related News
U.S. Home Sales Decline In August Due To High Prices
August 2023 U.S. Home Sales Decline Amid Rising Mortgage Rates and High Prices In August 2023, U.S. home sales experienced a notable decline, highlighting a distressing trend in the housing market. Homeownership is more costly these days. High home prices and soaring 30 year mortgage rates, combined with limited housing inventory, pose significant challenges for potential buyers and cast a shadow on economic recovery efforts. Many potential homebuyers find themselves increasingly priced out of
U.S. Job Growth Slowdown Affects Unemployment Rate
The Impact of Weak Job Growth on the US Unemployment Rate The unemployment rate has always been a vital gauge to understand the United States' economic health. Recent times have brought this indicator into sharper focus, especially as weak job growth continues to challenge the nation’s economy. The pressures of a sluggish labor market may lead to more significant economic consequences, impacting not just the workforce but the broader fiscal landscape. Weak job growth, leading to an increased un
Falling Mortgage Rates: Expert Advice for U.S. Homebuyers and Sellers
Expert Tips for Homebuyers and Sellers as Mortgage Rates Drop Mortgage rates are making headlines as they continue to decline, promising significant impacts on both homebuyers and sellers. These shifts in the real estate landscape invite a closer look at how adjustments in economic indicators, such as the federal funds rate and the 10-year treasury yield chart, are playing a part in this development. The U.S. housing market is reacting in intriguing ways, offering potential advantages for those
Unpredictability of Interest Rate Direction in the United States
Navigating the Unpredictability of Interest Rates Interest rates have turned into one of the most unpredictable elements in the American financial landscape. This unpredictability stems largely from the nuanced decisions of the Federal Reserve, often referred to as the Fed, whose policies ripple through financial markets, influencing borrowing costs for everyone from ambitious entrepreneurs to families securing mortgages. The web of economic indicators, which serves as the backbone for interest
Impact of U.S. Treasury Yields Rise After Fed Rate Cut
The Impact of a Treasury Yield Rise on the U.S. Economy After a Fed Rate Cut The current rise in the 10-year Treasury bond rate has caught the attention of economists, investors, and policymakers alike. Treasury yields, particularly the 10-year Treasury bond rate, act as a key indicator of the economic outlook in the United States. They affect interest rates, the bond market, and expectations for inflation. Understanding their fluctuations can offer insight into financial markets and help guide
U.S. Jobless Claims Spike, Followed By Decline, Layoffs Remain Low
U.S. Jobless Claims Spike and Decline: Insights into Labor Market Trends U.S. jobless claims recently spiked, only to decline soon after, highlighting interesting patterns in the labor market. At the heart of these shifts lies a tale of layoffs and employment dynamics that paint a picture of the U.S. economy's current state. These fluctuations in jobless claims explain broader economic metrics like the unemployment rate and employment rate. This overview offers a window into the complex interpl
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for West Virginia (QTAXT16QTAXCAT3WVNO), retrieved from FRED.