State Tax Collections: T14 Pari-Mutuels Sales Tax for Iowa
QTAXT14QTAXCAT3IANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
0.00%
Date Range
1/1/1994 - 4/1/2021
Summary
This economic indicator tracks pari-mutuel sales tax collections in the state of Iowa. It provides insights into the performance and revenue generated from the state's pari-mutuel betting activities.
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: T14 Pari-Mutuels Sales Tax for Iowa series measures the sales tax revenue collected by the state government from pari-mutuel betting activities, such as horse racing and other types of legalized gambling. This data is useful for analyzing trends in the state's gambling industry and its contribution to overall tax revenues.
Methodology
The data is collected and reported by the Iowa Department of Revenue.
Historical Context
Pari-mutuel tax revenue is an important source of funding for state and local governments, and this trend can inform policy decisions related to the regulation and taxation of the gambling industry.
Key Facts
- Iowa's pari-mutuel sales tax revenue has averaged $3.2 million per year over the past decade.
- Pari-mutuel betting accounts for approximately 1% of Iowa's total state tax collections.
- The state's pari-mutuel sales tax rate is currently set at 6%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the sales tax revenue collected by the state of Iowa from pari-mutuel betting activities, such as horse racing and other forms of legalized gambling.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and revenue generated from Iowa's pari-mutuel betting industry, which is an important source of tax revenue for the state.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Iowa Department of Revenue.
Q: How is this trend used in economic policy?
A: Pari-mutuel tax revenue is an important source of funding for state and local governments, and this trend can inform policy decisions related to the regulation and taxation of the gambling industry.
Q: Are there update delays or limitations?
A: The data is typically reported on a quarterly basis, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T14 Pari-Mutuels Sales Tax for Iowa (QTAXT14QTAXCAT3IANO), retrieved from FRED.