State Tax Collections: T21 Amusements License for Washington
QTAXT21QTAXCAT3WANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.00
Year-over-Year Change
33.33%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures Washington state's tax collections from amusement licenses, which provide insights into consumer spending and economic activity.
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: T21 Amusements License for Washington series tracks the monthly revenue the state government collects from licenses and fees related to amusement activities. This data point is a key indicator of consumer demand and discretionary income within the state.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government tax authorities.
Historical Context
Policymakers and economists monitor this trend to assess the health of the state's entertainment and hospitality sectors.
Key Facts
- Washington collects over $100 million annually in amusement license fees.
- Amusement tax collections peaked in 2019 before declining during the COVID-19 pandemic.
- The amusement license tax accounts for around 1% of Washington's total tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly tax revenue the state of Washington collects from licenses and fees related to amusement activities, such as movie theaters, concert halls, and other entertainment venues.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending and discretionary income within Washington state, which is a key indicator of the health of the local entertainment and hospitality sectors.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the performance of Washington's entertainment and hospitality industries, which inform policy decisions related to taxation, regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis, but there may be a 1-2 month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, State Tax Collections: T21 Amusements License for Washington (QTAXT21QTAXCAT3WANO), retrieved from FRED.