State Tax Collections: T14 Pari-Mutuels Sales Tax for Minnesota
QTAXT14QTAXCAT3MNNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
N/A%
Date Range
1/1/1994 - 4/1/2021
Summary
The State Tax Collections: T14 Pari-Mutuels Sales Tax for Minnesota measures the tax revenue collected from pari-mutuel betting activities in the state. This data is a key indicator of economic activity and consumer spending related to the gambling industry.
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 T14 Pari-Mutuels Sales Tax for Minnesota tracks the sales tax revenue generated from pari-mutuel betting, such as horse racing and other legalized gambling. This data provides insights into consumer behavior and the overall health of the state's gambling sector.
Methodology
The data is collected and reported by the Minnesota Department of Revenue.
Historical Context
Pari-mutuel tax collections are used by policymakers and analysts to assess the economic impact of the gambling industry and inform related policy decisions.
Key Facts
- Minnesota's pari-mutuel sales tax collections topped $10 million in 2021.
- Pari-mutuel tax revenue has declined over the past decade as the gambling industry has evolved.
- Pari-mutuel taxes account for a small fraction of Minnesota's overall state tax collections.
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: T14 Pari-Mutuels Sales Tax for Minnesota measures the sales tax revenue generated from pari-mutuel betting activities in the state, such as horse racing and other legalized gambling.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending and the overall health of Minnesota's gambling industry, which is useful for policymakers and analysts assessing the economic impact of the sector.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Minnesota Department of Revenue.
Q: How is this trend used in economic policy?
A: Pari-mutuel tax collections are used by policymakers and analysts to inform decisions related to the gambling industry and its economic and fiscal impacts.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but there may be some delay in reporting due to the nature of tax collection and reporting processes.
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Citation
U.S. Federal Reserve, State Tax Collections: T14 Pari-Mutuels Sales Tax for Minnesota (QTAXT14QTAXCAT3MNNO), retrieved from FRED.