State Tax Collections: T16 Tobacco Products Sales Tax for Indiana
QTAXT16QTAXCAT3INNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73.00
Year-over-Year Change
-18.89%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the total tobacco products sales tax revenue collected by the state of Indiana. It is a key indicator of tobacco consumption and an important source of state tax revenue.
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: T16 Tobacco Products Sales Tax for Indiana tracks the total amount of excise taxes levied on the sale of tobacco products like cigarettes and cigars within the state. This data provides insights into consumption patterns and is used by policymakers to assess the fiscal and public health impacts of tobacco taxation.
Methodology
The data is collected and reported by the Indiana Department of Revenue.
Historical Context
Tobacco tax revenue is an important consideration for state budgets and tobacco control policies.
Key Facts
- Indiana levies a 24% excise tax on the wholesale price of tobacco products.
- Tobacco tax revenue accounts for around 1% of Indiana's total state tax collections.
- Tobacco tax rates have remained unchanged in Indiana since 2007.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue collected by the state of Indiana from the excise tax on tobacco products, including cigarettes and cigars.
Q: Why is this trend relevant for users or analysts?
A: Tobacco tax revenue is an important source of funding for state budgets and a key metric for assessing the public health and fiscal impacts of tobacco control policies.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Indiana Department of Revenue.
Q: How is this trend used in economic policy?
A: Policymakers use this data to evaluate the fiscal and public health effects of tobacco taxation and inform decisions about state budgets and tobacco control measures.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Indiana (QTAXT16QTAXCAT3INNO), retrieved from FRED.