State Tax Collections: T10 Alcoholic Beverages Sales Tax for Illinois
QTAXT10QTAXCAT3ILNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.00
Year-over-Year Change
-2.78%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the total tax collections from the sales tax on alcoholic beverages in the state of Illinois. It provides important insights into consumer demand and state government revenue.
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 Tax Collections: T10 Alcoholic Beverages Sales Tax for Illinois measures the monthly revenue collected by the state of Illinois from the sales tax levied on alcoholic beverages. This data point is a key indicator of consumer spending and can inform policymakers and analysts about broader economic conditions.
Methodology
The data is collected directly from the Illinois Department of Revenue.
Historical Context
This metric is used by economists and policymakers to monitor consumer behavior and state fiscal health.
Key Facts
- Illinois has a 6.25% sales tax on alcoholic beverages.
- Alcoholic beverage sales tax revenue accounts for 2-3% of Illinois' total tax collections.
- Trends in this metric can indicate changes in consumer confidence and discretionary spending.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Illinois from the sales tax on alcoholic beverages.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and state government finances, which are important for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected directly from the Illinois Department of Revenue.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to monitor consumer behavior and state fiscal health, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is reported monthly, but there may be a 1-2 month lag in availability.
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Citation
U.S. Federal Reserve, State Tax Collections: T10 Alcoholic Beverages Sales Tax for Illinois (QTAXT10QTAXCAT3ILNO), retrieved from FRED.