State Government Tax Collections, Amusements - Selective Sales Taxes in Virginia
VAAMUSTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123,906.00
Year-over-Year Change
152870.37%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures selective sales tax collections by state governments on amusements, such as movie tickets, sporting events, and other entertainment activities in Virginia. It provides insights into consumer spending patterns and state tax revenues.
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, Amusements - Selective Sales Taxes in Virginia series tracks the revenue generated by state-level taxes on amusement-related sales in the Commonwealth of Virginia. This metric is used by economists and policymakers to analyze consumer behavior, assess the financial health of the entertainment industry, and evaluate the effectiveness of state tax policies.
Methodology
The data is collected through state government revenue reporting and tax collection records.
Historical Context
This trend is relevant for understanding the economic conditions and policy decisions affecting Virginia's entertainment and leisure sectors.
Key Facts
- Virginia's amusement tax revenue was $124.3 million in 2021.
- Amusement taxes account for approximately 3% of Virginia's total state tax collections.
- The amusement tax rate in Virginia is currently 4% of gross receipts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the selective sales tax revenue collected by the state government of Virginia on amusement-related activities, such as movie tickets, sporting events, and other entertainment purchases.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the financial health of Virginia's entertainment industry, as well as the effectiveness of the state's tax policies.
Q: How is this data collected or calculated?
A: The data is collected through state government revenue reporting and tax collection records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze the impact of tax policies on the entertainment industry and consumer behavior, and to inform decisions related to state budgets and economic development.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly or annual basis, and may be subject to revisions as state governments finalize their tax collection reports.
Related Trends
Exports of Goods: Manufactured Commodities for Virginia
EXPMANVA
Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Virginia
VATRANSWAREQGSP
Number of Identified Exporters to Austria from Virginia
VAAUTA475SCEN
Average Weekly Earnings of All Employees: Financial Activities in Virginia
SMU51000005500000011A
Gross Domestic Product: Waste Management and Remediation Services (562) in Virginia
VAWASTENGSP
All Employees: Manufacturing: Durable Goods in Virginia
SMU51000003100000001
Citation
U.S. Federal Reserve, State Government Tax Collections, Amusements - Selective Sales Taxes in Virginia (VAAMUSTAX), retrieved from FRED.