State Government Tax Collections, Alcoholic Beverages - Selective Sales Taxes in West Virginia
WVALCOTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,319.00
Year-over-Year Change
18.11%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures the total tax collections from the sale of alcoholic beverages in the state of West Virginia. It is an important indicator of consumer demand and state government revenue.
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 West Virginia series tracks the total revenue generated by the state government from taxes on the sale of alcoholic products. This metric provides insight into consumer purchasing behavior and the financial health of the state's alcohol-related industries.
Methodology
The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Government Tax Revenue.
Historical Context
Policymakers and industry analysts use this trend to assess the economic conditions and tax revenue dynamics within West Virginia's alcohol sector.
Key Facts
- West Virginia's alcohol tax revenue totaled $31.2 million in Q4 2022.
- Alcohol tax collections account for approximately 2% of West Virginia's total state tax revenue.
- The state's alcohol tax rate is currently set at 6% of the wholesale price.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the West Virginia state government from the sale of alcoholic beverages within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand for alcohol products and the financial health of West Virginia's alcohol industry, which is important for policymakers and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Government Tax Revenue.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the economic conditions and tax revenue dynamics within West Virginia's alcohol sector, which informs decisions around taxation, regulation, and economic development.
Q: Are there update delays or limitations?
A: This data is reported on a quarterly basis, so there may be a several-month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Alcoholic Beverages - Selective Sales Taxes in West Virginia (WVALCOTAX), retrieved from FRED.