State Tax Collections: T15 Public Utilities Sales Tax for Maine
QTAXT15QTAXCAT3MENO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
-33.33%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic indicator tracks state tax collections from the public utilities sales tax in Maine. It provides insights into consumer and business demand for utilities like electricity, gas, and telecommunications.
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: T15 Public Utilities Sales Tax for Maine metric measures the total tax revenue generated from the public utilities sales tax levied by the state of Maine. This data series is used by economists and policymakers to analyze trends in consumer and commercial utility usage and expenditures.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state and local government tax authorities.
Historical Context
This metric helps inform economic and fiscal policy decisions related to energy, telecommunications, and other public utility markets.
Key Facts
- Maine collects a 5.5% sales tax on public utility services.
- Utility tax revenue accounts for 6% of total state tax collections in Maine.
- Public utility sales tax collections in Maine have grown by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total sales tax revenue collected by the state of Maine on public utility services like electricity, natural gas, and telecommunications.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer and business demand for key utility services, which is an important factor in economic and fiscal policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of state and local tax authorities by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to understand trends in utility consumption and the overall health of the energy and telecommunications sectors.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, so the most recent quarter's figures may not be available immediately.
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Citation
U.S. Federal Reserve, State Tax Collections: T15 Public Utilities Sales Tax for Maine (QTAXT15QTAXCAT3MENO), retrieved from FRED.