State Government Tax Collections, Tobacco Products - Selective Sales Taxes in Indiana
INTOBACTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
340,195.00
Year-over-Year Change
-26.87%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures the state government tax collections from tobacco products selective sales taxes in Indiana. It provides insight into Indiana's tax revenue from tobacco-related sales.
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, Tobacco Products - Selective Sales Taxes in Indiana series tracks the revenue the state government of Indiana collects from selective sales taxes on tobacco products. This metric is used by economists and policymakers to analyze Indiana's fiscal health and the impact of tobacco-related taxes.
Methodology
The data is collected and calculated by the U.S. Census Bureau through surveys of state government tax authorities.
Historical Context
This trend is relevant for understanding Indiana's tax policy and revenue sources related to tobacco products.
Key Facts
- Indiana collected $355 million in tobacco product taxes in 2021.
- Tobacco taxes account for approximately 3% of Indiana's total state tax revenue.
- Indiana's tobacco tax rate is $1.00 per pack of cigarettes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the amount of tax revenue the state government of Indiana collects from selective sales taxes on tobacco products.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Indiana's fiscal health and the impact of tobacco-related taxes, which is useful for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through surveys of state government tax authorities.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze Indiana's tax policy and revenue sources related to tobacco products.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and methods of the U.S. Census Bureau, which may result in occasional update delays or changes in data collection procedures.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Tobacco Products - Selective Sales Taxes in Indiana (INTOBACTAX), retrieved from FRED.