Taxes on production and imports: State government: Sales taxes: Tobacco
L305161A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.23
Year-over-Year Change
35.69%
Date Range
1/1/1931 - 1/1/2016
Summary
This trend measures state government sales taxes levied on tobacco products. It is a key indicator of tobacco consumption and state tax revenue from this source.
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 'Taxes on production and imports: State government: Sales taxes: Tobacco' series tracks the total value of state sales taxes collected on tobacco products. This provides insight into consumer demand and state budgets that rely on tobacco tax revenue.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of state and local government fiscal accounts.
Historical Context
Tobacco tax revenue is an important consideration for state policymakers balancing budgets and public health goals.
Key Facts
- Tobacco sales taxes provide over $17 billion in annual revenue for U.S. state governments.
- Cigarette taxes account for over 90% of state tobacco tax collections.
- The average state tobacco tax rate is $1.91 per pack of cigarettes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of state government sales taxes collected on tobacco products, including cigarettes, cigars, and other tobacco items.
Q: Why is this trend relevant for users or analysts?
A: Tobacco tax revenue is an important metric for state budgets and public health policy, as it reflects consumer demand and the fiscal impact of tobacco use.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of state and local government fiscal accounts.
Q: How is this trend used in economic policy?
A: Tobacco tax revenue is a key consideration for state policymakers balancing budgets and public health goals, as it reflects consumer demand and provides a stable source of tax income.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 3-month lag between the end of the reporting period and public release.
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Citation
U.S. Federal Reserve, Taxes on production and imports: State government: Sales taxes: Tobacco (L305161A027NBEA), retrieved from FRED.