State Government Tax Collections, Tobacco Products - Selective Sales Taxes in Louisiana
LATOBACTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
221,054.00
Year-over-Year Change
65.96%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures state government tax collections from selective sales taxes on tobacco products in Louisiana. It provides insight into the revenue generated from this tax source for 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, Tobacco Products - Selective Sales Taxes in Louisiana' metric tracks the amount of tax revenue the state of Louisiana collects from levying selective sales taxes on the sale of tobacco products. This data is used by economists and policymakers to analyze trends in tobacco consumption, tax revenue, and the broader fiscal health of the state.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finance.
Historical Context
This trend is relevant for understanding Louisiana's tax policy and the economics of the tobacco industry within the state.
Key Facts
- Louisiana collects over $150 million annually from tobacco product sales taxes.
- Tobacco taxes account for around 2% of total state tax revenue in Louisiana.
- The state's tobacco tax rate is $1.08 per pack of cigarettes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the amount of tax revenue the state of Louisiana collects from levying selective sales taxes on the sale of tobacco products.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into tobacco consumption patterns, tax revenue, and the fiscal health of Louisiana's state government.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze trends in the tobacco industry and the impact of tax policy on state revenues.
Q: Are there update delays or limitations?
A: The data is published quarterly with a short delay, and may not capture all tax revenue sources.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Tobacco Products - Selective Sales Taxes in Louisiana (LATOBACTAX), retrieved from FRED.