State Tax Collections: T11 Amusements Sales Tax for Michigan
QTAXT11QTAXCAT3MINO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.00
Year-over-Year Change
15.66%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures amusements sales tax collections in the state of Michigan. It provides insight into consumer spending on entertainment and recreational activities 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
The State Tax Collections: T11 Amusements Sales Tax for Michigan metric tracks tax revenue generated from the sale of entertainment-related goods and services in Michigan. It is a key indicator of consumer confidence and spending patterns in the state's leisure and hospitality sectors.
Methodology
The data is collected and reported by the Michigan Department of Treasury.
Historical Context
Policymakers and economists monitor this trend to gauge the health of Michigan's consumer-driven economy.
Key Facts
- Michigan's amusements sales tax revenue totaled $145 million in 2021.
- Amusements sales tax accounts for approximately 2% of Michigan's total sales tax collections.
- The amusements sales tax rate in Michigan is currently 6%.
FAQs
Q: What does this economic trend measure?
A: This trend measures tax revenue collected by the state of Michigan on the sale of amusements, entertainment, and recreational goods and services.
Q: Why is this trend relevant for users or analysts?
A: The amusements sales tax trend provides insight into consumer spending patterns and the health of Michigan's leisure and hospitality sectors, which are important drivers of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Michigan Department of Treasury.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge consumer confidence and spending in Michigan, which can inform fiscal and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, State Tax Collections: T11 Amusements Sales Tax for Michigan (QTAXT11QTAXCAT3MINO), retrieved from FRED.