State Government Tax Collections, Alcoholic Beverages - Selective Sales Taxes in Virginia
VAALCOTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
288,823.00
Year-over-Year Change
45.79%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures the total tax revenue collected by the state government of Virginia from selective sales taxes on alcoholic beverages. It is an important indicator of consumer demand and state fiscal health.
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 Virginia series tracks the revenue generated by Virginia's selective sales taxes on the sale of alcoholic beverages. This data provides insight into consumer spending patterns and the state's ability to fund public services through tax collection.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Historical Context
Policymakers and economists analyze this trend to understand consumer behavior and evaluate the fiscal position of the Virginia state government.
Key Facts
- Virginia's alcoholic beverage sales tax revenue totaled $335 million in 2021.
- Alcoholic beverage taxes account for approximately 2% of Virginia's total state tax collections.
- The selective sales tax on alcoholic beverages has remained relatively stable as a source of state revenue in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state government of Virginia from selective sales taxes on the sale of alcoholic beverages.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer spending patterns and the fiscal health of the Virginia state government, making it relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand consumer behavior and evaluate the fiscal position of the Virginia state government, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and methodologies of the U.S. Census Bureau, which may result in occasional delays or revisions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Alcoholic Beverages - Selective Sales Taxes in Virginia (VAALCOTAX), retrieved from FRED.