State Tax Collections: T16 Tobacco Products Sales Tax for South Dakota
QTAXT16QTAXCAT3SDNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.00
Year-over-Year Change
-35.29%
Date Range
1/1/1994 - 1/1/2025
Summary
This series tracks South Dakota's tobacco products sales tax collections, providing insights into consumption patterns and revenue generation for state policymakers.
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 South Dakota series reports the monthly collections from the sales tax levied on tobacco products in the state. This data is used by economists and state officials to monitor trends in consumer behavior and assess the fiscal impacts of tobacco taxation policies.
Methodology
The data is collected by the South Dakota Department of Revenue through tax filings and remittances from businesses.
Historical Context
Tobacco tax collections are an important revenue source for state budgets and can also influence public health outcomes through consumption patterns.
Key Facts
- South Dakota has a 35% tax rate on the wholesale price of tobacco products.
- Tobacco tax revenue accounts for around 2% of South Dakota's total state tax collections.
- Tobacco consumption has declined in South Dakota over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series tracks the monthly collections from the sales tax levied on tobacco products in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: Tobacco tax collections are an important revenue source for state budgets and can also provide insights into consumer behavior and the impacts of taxation policies.
Q: How is this data collected or calculated?
A: The data is collected by the South Dakota Department of Revenue through tax filings and remittances from businesses.
Q: How is this trend used in economic policy?
A: State policymakers and economists use this data to monitor trends in tobacco consumption and assess the fiscal impacts of taxation policies.
Q: Are there update delays or limitations?
A: The data is reported monthly, with a typical 2-3 month lag between the reporting period and public release.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for South Dakota (QTAXT16QTAXCAT3SDNO), retrieved from FRED.