State Government Tax Collections, Tobacco Products - Selective Sales Taxes in Rhode Island
RITOBACTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119,326.00
Year-over-Year Change
-9.69%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures the selective sales tax revenue from tobacco products collected by the state government of Rhode Island. It is an important indicator for state fiscal policy and public health initiatives.
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, Tobacco Products - Selective Sales Taxes in Rhode Island series tracks the revenue generated from the state's excise tax on the sale of tobacco products. This metric provides insight into consumer demand, the effectiveness of tobacco control policies, and the state's fiscal health.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government revenue sources.
Historical Context
Policymakers and analysts use this trend to evaluate the impact of tobacco taxation on public health outcomes and state budgets.
Key Facts
- Rhode Island has one of the highest cigarette tax rates in the U.S. at $4.25 per pack.
- Tobacco tax revenue accounts for about 2% of Rhode Island's total state tax collections.
- The state's tobacco tax rate has increased several times over the past two decades.
FAQs
Q: What does this economic trend measure?
A: This trend measures the selective sales tax revenue collected by the Rhode Island state government from the sale of tobacco products.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand for tobacco, the effectiveness of tobacco control policies, and the state's fiscal health.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government revenue sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the impact of tobacco taxation on public health outcomes and state budgets.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Tobacco Products - Selective Sales Taxes in Rhode Island (RITOBACTAX), retrieved from FRED.