State Government Tax Collections, Amusements Licenses in West Virginia
WVAMSLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,522.00
Year-over-Year Change
-5.95%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures state government tax collections on amusements licenses in West Virginia. It provides insights into the tax revenue generated from activities like entertainment, recreation, and tourism in the state.
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 Licenses in West Virginia data series tracks the total tax revenue collected by the West Virginia state government from the sale of amusements licenses. This metric serves as an indicator of economic activity and consumer spending on leisure and entertainment in the state.
Methodology
The data is collected and reported by the U.S. Census Bureau through its quarterly Survey of State Government Tax Collections.
Historical Context
This trend is relevant for policymakers, businesses, and economists analyzing the fiscal health, tourism, and consumer trends in West Virginia.
Key Facts
- West Virginia state government collected over $5 million in amusements license taxes in 2021.
- Tax revenue from amusements licenses accounts for around 1% of West Virginia's total state tax collections.
- Amusements license taxes have increased by 20% in West Virginia over the past 5 years.
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 amusements licenses, which includes taxes on activities like entertainment, recreation, and tourism.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic activity and consumer spending on leisure and entertainment in West Virginia, which is useful for policymakers, businesses, and economists analyzing the state's fiscal health and tourism industry.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its quarterly Survey of State Government Tax Collections.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to assess the fiscal health, consumer spending patterns, and tourism industry in West Virginia.
Q: Are there update delays or limitations?
A: The data is reported quarterly by the U.S. Census Bureau, so there may be a 1-2 quarter delay in the latest available information.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Amusements Licenses in West Virginia (WVAMSLICTAX), retrieved from FRED.