State Government Tax Collections, Alcoholic Beverages Licenses in Illinois
ILALCLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,969.00
Year-over-Year Change
51.70%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures state government tax collections from alcoholic beverage licenses in Illinois. It provides insights into the revenue generated from the regulation and taxation of the alcohol industry within 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, Alcoholic Beverages Licenses in Illinois' metric tracks the total tax revenue collected by the Illinois state government from fees and licenses related to the production, distribution, and sale of alcoholic beverages. This data point is used by economists and policymakers to analyze the fiscal impact of the alcohol industry and inform regulatory and tax policy decisions.
Methodology
The data is collected and reported by the U.S. Census Bureau as part of its state and local government tax revenue statistics.
Historical Context
This trend is relevant for understanding the tax and regulatory environment for the alcohol industry in Illinois, which can impact business operations, consumer prices, and state budgets.
Key Facts
- Illinois collected over $60 million in alcohol license taxes in 2021.
- Alcohol tax revenue accounts for around 1% of total state tax collections in Illinois.
- Taxes on alcoholic beverages provide a stable source of revenue for the state government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state government of Illinois from fees and licenses related to the production, distribution, and sale of alcoholic beverages.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the fiscal impact of the alcohol industry and can inform regulatory and tax policy decisions made by economists and policymakers in Illinois.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of its state and local government tax revenue statistics.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the tax and regulatory environment for the alcohol industry in Illinois, which can impact business operations, consumer prices, and state budgets.
Q: Are there update delays or limitations?
A: The data is published with a short delay, typically a few months after the end of the reporting period, and may be subject to revisions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Alcoholic Beverages Licenses in Illinois (ILALCLICTAX), retrieved from FRED.