State Government Tax Collections, Pari-Mutuels - Selective Sales Taxes in Pennsylvania
PAPARITAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,690.00
Year-over-Year Change
-50.23%
Date Range
1/1/1951 - 1/1/2022
Summary
This economic trend measures Pennsylvania's state government tax collections from pari-mutuel, or off-track betting, selective sales taxes. It provides insight into the state's revenue from this specific tax 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 Pari-Mutuels - Selective Sales Taxes in Pennsylvania series tracks the tax revenue the state collects from wagers made at pari-mutuel betting facilities, such as racetracks and off-track betting parlors. This data is used by economists and policymakers to analyze Pennsylvania's fiscal health and tax policy.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This trend is relevant for understanding Pennsylvania's tax revenue sources and the economic activity of the state's pari-mutuel betting industry.
Key Facts
- Pennsylvania collected $36.2 million in pari-mutuel selective sales taxes in 2021.
- Pari-mutuel betting taxes account for around 0.5% of Pennsylvania's total state tax revenue.
- The pari-mutuel tax rate in Pennsylvania is currently set at 16% of gross wagers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state government of Pennsylvania from pari-mutuel, or off-track betting, selective sales taxes.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into an important source of tax revenue for Pennsylvania and the economic activity of the state's pari-mutuel betting industry.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze Pennsylvania's fiscal health and tax policy, particularly related to the state's pari-mutuel betting industry.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Pari-Mutuels - Selective Sales Taxes in Pennsylvania (PAPARITAX), retrieved from FRED.