State Government Tax Collections, Alcoholic Beverages Licenses in Virginia
VAALCLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,179.00
Year-over-Year Change
42.71%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from alcoholic beverage licenses in Virginia. It provides insights into the revenue generated from alcohol-related business activity and can inform state fiscal and regulatory policy.
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 Licenses in Virginia series tracks the total tax revenue collected by the Virginia state government from licenses and fees associated with the sale and distribution of alcoholic beverages. This metric is used by economists and policymakers to analyze the economic and fiscal impacts of the alcohol industry within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Historical Context
This economic indicator is relevant for understanding state-level alcohol regulation, taxation, and their effects on revenue, consumer behavior, and the broader economy.
Key Facts
- Virginia collected over $58 million in alcoholic beverage license taxes in 2021.
- Alcoholic beverage license taxes account for approximately 2% of Virginia's total state tax revenue.
- The alcohol industry contributes significantly to Virginia's economy, generating jobs and economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the Virginia state government from licenses and fees associated with the sale and distribution of alcoholic beverages.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic and fiscal impacts of the alcohol industry within Virginia, which is relevant for understanding state-level alcohol regulation, taxation, and their effects on revenue, consumer behavior, and the broader economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Government Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to analyze the revenue generated from alcohol-related business activity and to inform state fiscal and regulatory policy decisions.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis by the U.S. Census Bureau, so there may be some delay in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Alcoholic Beverages Licenses in Virginia (VAALCLICTAX), retrieved from FRED.