State Tax Collections: T16 Tobacco Products Sales Tax for New York
QTAXT16QTAXCAT3NYNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
149.00
Year-over-Year Change
-19.46%
Date Range
1/1/1994 - 1/1/2025
Summary
The State Tax Collections: T16 Tobacco Products Sales Tax for New York tracks the revenue collected by the state of New York from its tobacco products sales tax. This metric is a key indicator of consumer demand and tax compliance within the tobacco 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 State Tax Collections: T16 Tobacco Products Sales Tax for New York measures the total revenue collected by the state of New York from its excise tax on the sale of tobacco products. This data provides insights into consumption patterns, tax evasion, and the overall health of the tobacco market within the state.
Methodology
The data is collected directly from state tax revenue reports and filings.
Historical Context
This metric is closely monitored by policymakers, regulators, and industry analysts to gauge the effectiveness of tobacco control policies and the overall state of the tobacco market.
Key Facts
- New York has one of the highest tobacco product tax rates in the U.S.
- Tobacco tax revenue accounts for a significant portion of New York's state budget.
- Declining tobacco tax collections may signal increased tax evasion or consumption shifts
FAQs
Q: What does this economic trend measure?
A: The State Tax Collections: T16 Tobacco Products Sales Tax for New York measures the total revenue collected by the state of New York from its excise tax on the sale of tobacco products.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand, tax compliance, and the overall health of the tobacco market within the state of New York, which is crucial for policymakers, regulators, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from state tax revenue reports and filings.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by policymakers and regulators to gauge the effectiveness of tobacco control policies and the overall state of the tobacco market.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and practices of the state of New York, which may result in occasional delays or revisions.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for New York (QTAXT16QTAXCAT3NYNO), retrieved from FRED.