State Government Tax Collections, Pari-Mutuels - Selective Sales Taxes in Indiana
INPARITAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,696.00
Year-over-Year Change
-62.69%
Date Range
1/1/1951 - 1/1/2022
Summary
The 'State Government Tax Collections, Pari-Mutuels - Selective Sales Taxes in Indiana' trend measures the revenue generated by selective sales taxes on pari-mutuel wagering in the state of Indiana. This metric is important for understanding the fiscal impact of the gaming industry and informing related economic and tax policy decisions.
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
This trend represents the total tax revenue collected by the Indiana state government from selective sales taxes on pari-mutuel wagering, which includes betting on horse racing, greyhound racing, and jai alai. The data is used by economists and policymakers to analyze the role of the gaming industry in the state's economy and budget.
Methodology
The data is collected and reported by the U.S. Census Bureau through its annual State Government Tax Collections survey.
Historical Context
Pari-mutuel tax revenue is an important consideration for state governments in regulating and taxing the gaming industry.
Key Facts
- Indiana has had a selective sales tax on pari-mutuel wagering since the 1980s.
- Pari-mutuel tax revenue accounted for 0.3% of Indiana's total state tax collections in 2021.
- The gaming industry employs over 13,000 people in Indiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the revenue generated by selective sales taxes on pari-mutuel wagering, such as horse racing, greyhound racing, and jai alai, collected by the state government of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the fiscal impact of the gaming industry in Indiana and informing related economic and tax policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its annual State Government Tax Collections survey.
Q: How is this trend used in economic policy?
A: Pari-mutuel tax revenue is an important consideration for state governments in regulating and taxing the gaming industry.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of several months from the end of the reference year.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Pari-Mutuels - Selective Sales Taxes in Indiana (INPARITAX), retrieved from FRED.