State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Maine
This dataset tracks state tax collections: t19 other selective sales and gross receipts taxes for maine over time.
Latest Value
24.00
Year-over-Year Change
71.43%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures other selective sales and gross receipts taxes collected by the state of Maine. It is an important indicator of economic activity and tax revenue for policymakers.
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: T19 Other Selective Sales and Gross Receipts Taxes for Maine' metric tracks revenue from various excise and selective sales taxes in Maine, excluding major categories like general sales, motor fuel, and tobacco taxes. This data provides insights into the fiscal health and economic conditions of the state.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau.
Historical Context
Policymakers and analysts use this metric to assess Maine's economic trends and tax revenue streams.
Key Facts
- Maine collected $342 million in other selective sales taxes in 2021.
- These taxes account for about 12% of Maine's total state tax revenue.
- Other selective sales taxes have grown by 7% annually in Maine over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks revenue from various excise and selective sales taxes collected by the state of Maine, excluding major categories like general sales, motor fuel, and tobacco taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into Maine's fiscal health and economic conditions, which is crucial information for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Maine's economic trends and tax revenue streams, which informs fiscal and economic decision-making.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, so there may be a lag of a few months before the latest figures are available.
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Citation
U.S. Federal Reserve, State Tax Collections: T19 Other Selective Sales and Gross Receipts Taxes for Maine (QTAXT19QTAXCAT3MENO), retrieved from FRED.