State Government Tax Collections, Amusements - Selective Sales Taxes in Maryland
MDAMUSTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,174,292.00
Year-over-Year Change
4169.53%
Date Range
1/1/1951 - 1/1/2024
Summary
This trend measures state government tax collections from selective sales taxes on amusement activities in Maryland. It provides insight into the economic performance and consumer spending in the state's entertainment and leisure sectors.
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 Amusements - Selective Sales Taxes in Maryland series tracks the revenue collected by the state government from taxes on the sale of tickets, admissions, and other transactions related to amusement activities. This data is used by economists and policymakers to analyze trends in consumer behavior and the fiscal health of Maryland's entertainment industry.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government finance.
Historical Context
This trend is monitored by state officials to gauge the economic vitality of Maryland's tourism and recreation sectors and inform tax and budgetary policies.
Key Facts
- Maryland's amusement tax revenue totaled $68.3 million in 2021.
- Tax collections from this source declined by 51% in 2020 due to the COVID-19 pandemic.
- Amusement taxes account for about 1.3% of Maryland's total state tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the revenue collected by the state government of Maryland from selective sales taxes on amusement activities, such as tickets, admissions, and other transactions related to entertainment and leisure.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending patterns and the economic performance of Maryland's entertainment and tourism sectors, which is useful for policymakers, economists, and businesses operating in the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government finance.
Q: How is this trend used in economic policy?
A: State officials monitor this trend to gauge the fiscal health of Maryland's tourism and recreation industries, which informs tax and budgetary policies aimed at supporting these sectors.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reporting period. There may also be revisions to previously reported figures.
Related Trends
Housing Inventory: Pending Listing Count in Maryland
PENLISCOUMD
All Employees: Professional, Scientific, and Technical Services in Maryland
SMU24000006054000001A
Total Tax Exemptions for Maryland
TOTEXMMD24A647NCEN
Real Value-Added Output for Private Nonfarm in Maryland
IPUZNT010240000
Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Maryland
MDFOODDPQGSP
Housing Inventory: Price Reduced Count in Maryland
PRIREDCOUMD
Citation
U.S. Federal Reserve, State Government Tax Collections, Amusements - Selective Sales Taxes in Maryland (MDAMUSTAX), retrieved from FRED.