State Tax Collections: T16 Tobacco Products Sales Tax for Nevada
QTAXT16QTAXCAT3NVNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.00
Year-over-Year Change
-13.95%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures tobacco products sales tax collections in the state of Nevada. It provides important insights into consumer spending and tax revenue generation.
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 Nevada trend represents the total sales tax revenue the state collects on tobacco products. This metric is used by economists and policymakers to analyze consumer behavior and evaluate the fiscal impact of tobacco taxation.
Methodology
The data is collected directly from state tax authorities.
Historical Context
This trend is relevant for understanding Nevada's tax policy and the state's overall fiscal health.
Key Facts
- Nevada's tobacco products sales tax rate is currently 30%.
- Tobacco tax revenue accounts for 5% of Nevada's total state tax collections.
- Tobacco tax collections in Nevada have declined by 8% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total sales tax revenue collected by the state of Nevada on the sale of tobacco products, including cigarettes, cigars, and other tobacco items.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into consumer spending on tobacco products and the fiscal impact of tobacco taxation in Nevada. It is relevant for policymakers, economists, and analysts interested in understanding state tax revenue and consumer behavior.
Q: How is this data collected or calculated?
A: The data is collected directly from the Nevada Department of Taxation, which oversees the state's tobacco sales tax.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate the effectiveness of tobacco taxation policies, analyze consumer demand, and assess the fiscal implications of changes in tobacco consumption.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with a lag of 1-2 months. There may be occasional revisions or changes in data collection methods over time.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Nevada (QTAXT16QTAXCAT3NVNO), retrieved from FRED.