State Government Tax Collections, Total Selective Sales Taxes in Mississippi
MSTLSLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,772,532.00
Year-over-Year Change
33.83%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures the total selective sales tax revenue collected by the state government of Mississippi. It is an important indicator of consumer spending and economic activity within 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
Selective sales taxes are levied on specific goods and services, such as cigarettes, alcohol, and motor fuel. The total collections of these taxes provide insight into the overall economic health and consumer behavior in Mississippi.
Methodology
The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue program.
Historical Context
Policymakers and analysts use this trend to evaluate the state's fiscal position and make informed decisions about revenue sources and economic policies.
Key Facts
- Mississippi's total selective sales tax collections were $732 million in 2021.
- Selective sales taxes account for approximately 25% of Mississippi's total state tax revenue.
- The trend in selective sales tax collections can be an indicator of consumer confidence and economic activity in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of selective sales taxes collected by the state government of Mississippi. Selective sales taxes are levied on specific goods and services, such as cigarettes, alcohol, and motor fuel.
Q: Why is this trend relevant for users or analysts?
A: The total selective sales tax collections provide insight into consumer spending and economic activity within the state of Mississippi. This information is useful for policymakers, economists, and analysts in evaluating the state's fiscal position and making informed decisions about revenue sources and economic policies.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the state's fiscal position and make informed decisions about revenue sources and economic policies. The trend in selective sales tax collections can be an indicator of consumer confidence and economic activity in the state.
Q: Are there update delays or limitations?
A: The data is reported quarterly by the U.S. Census Bureau, so there may be a slight delay in the most recent information being available. Additionally, the data is limited to the state of Mississippi and does not include local or federal tax collections.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Selective Sales Taxes in Mississippi (MSTLSLTAX), retrieved from FRED.