State Tax Collections: T11 Amusements Sales Tax for Minnesota
QTAXT11QTAXCAT3MNNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.00
Year-over-Year Change
5.56%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the total sales tax revenue collected by the state of Minnesota from amusement-related sales. It provides insights into consumer spending patterns and the health of the state's entertainment and recreation 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 State Tax Collections: T11 Amusements Sales Tax for Minnesota tracks the monthly revenue generated from the sales tax levied on amusement-related goods and services in the state. This data series is used by economists and policymakers to analyze consumer behavior, tax policy, and economic conditions in Minnesota's entertainment industry.
Methodology
The data is collected by the U.S. Census Bureau through state tax filings and remittances.
Historical Context
This metric is relevant for understanding the impacts of tax policy, consumer sentiment, and broader economic trends on Minnesota's entertainment and recreation sectors.
Key Facts
- Minnesota's amusement sales tax revenue averaged $15.2 million per month in 2022.
- The amusement tax accounts for approximately 3% of Minnesota's total sales tax collections.
- Amusement tax revenues declined by 25% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total sales tax revenue collected by the state of Minnesota from the sale of amusement-related goods and services, such as tickets, admissions, and recreational activities.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending patterns and the health of Minnesota's entertainment and recreation sectors, which are important for understanding broader economic conditions in the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through state tax filings and remittances.
Q: How is this trend used in economic policy?
A: This metric is relevant for policymakers and economists analyzing the impacts of tax policy, consumer sentiment, and broader economic trends on Minnesota's entertainment and recreation industries.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately two months, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, State Tax Collections: T11 Amusements Sales Tax for Minnesota (QTAXT11QTAXCAT3MNNO), retrieved from FRED.