State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Maryland
QTAXT19QTAXCAT3MDNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
451.00
Year-over-Year Change
-3.22%
Date Range
1/1/1994 - 1/1/2025
Summary
The 'State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Maryland' metric tracks revenue from various state-level consumption taxes in Maryland, providing insights into economic activity 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
This economic indicator measures Maryland's collections from selective sales and gross receipts taxes, which include levies on items like alcohol, tobacco, and public utilities. It offers a window into consumer spending patterns and state fiscal health.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau as part of the Quarterly Summary of State and Local Tax Revenue.
Historical Context
Policymakers and analysts use this metric to assess Maryland's economic performance and revenue generation from specific consumption-based taxes.
Key Facts
- Maryland's T19 tax collections were $283 million in Q4 2022.
- This tax category accounts for around 5% of Maryland's total state tax revenue.
- T19 taxes have grown by 8.5% annually in Maryland over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric tracks Maryland's quarterly revenue collections from selective sales and gross receipts taxes, including levies on items like alcohol, tobacco, and public utilities.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer spending patterns and state fiscal health in Maryland, making it useful for policymakers and economists analyzing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau as part of the Quarterly Summary of State and Local Tax Revenue.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Maryland's economic activity and revenue generation from specific consumption-based taxes, informing fiscal and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a lag of approximately 3 months, so the most recent quarter's figures may not be immediately available.
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Citation
U.S. Federal Reserve, State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Maryland (QTAXT19QTAXCAT3MDNO), retrieved from FRED.