State Government Tax Collections, Alcoholic Beverages - Selective Sales Taxes in Rhode Island
RIALCOTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,225.00
Year-over-Year Change
64.91%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from selective sales taxes on alcoholic beverages in Rhode Island. It provides insight into a key revenue source for state budgets and consumer demand for alcohol.
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 Government Tax Collections, Alcoholic Beverages - Selective Sales Taxes in Rhode Island series tracks the total revenue collected by the Rhode Island state government from excise taxes on the sale of alcoholic products. This metric is used by economists and policymakers to analyze trends in consumer purchasing behavior and the fiscal health of state budgets.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government tax revenue.
Historical Context
This trend is relevant for assessing the economic conditions and fiscal policies within Rhode Island.
Key Facts
- Rhode Island collects over $25 million annually from alcoholic beverage taxes.
- Alcohol taxes account for around 2% of Rhode Island's total state tax revenue.
- Selective sales taxes on alcohol are an important revenue source for state budgets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of selective sales tax revenue collected by the Rhode Island state government from the sale of alcoholic beverages.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand for alcohol and is an important indicator of state fiscal health and tax policy.
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 revenue.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze trends in consumer spending, as well as the fiscal implications of alcohol tax policies for state budgets.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Alcoholic Beverages - Selective Sales Taxes in Rhode Island (RIALCOTAX), retrieved from FRED.