State Tax Collections: T16 Tobacco Products Sales Tax for Utah
QTAXT16QTAXCAT3UTNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.00
Year-over-Year Change
-26.67%
Date Range
1/1/1994 - 1/1/2025
Summary
This series tracks quarterly state tax collections from the tobacco products sales tax in Utah. It provides insight into consumer demand and tax revenue related to tobacco products in the state.
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 Utah series measures the quarterly tax revenue collected by the state government of Utah from the sales of tobacco products. This metric is used by economists and policymakers to analyze trends in consumer behavior and the fiscal impacts of tobacco taxation.
Methodology
The data is collected by the U.S. Census Bureau through state government tax revenue reporting.
Historical Context
This trend is relevant for assessing the public health and fiscal policy implications of tobacco taxation in Utah.
Key Facts
- Utah's tobacco products sales tax rate is 86% of the wholesale price.
- Tobacco tax revenue accounts for around 1% of Utah's total state tax collections.
- E-cigarette and vaping products are subject to the same tobacco tax in Utah.
FAQs
Q: What does this economic trend measure?
A: This series tracks the quarterly tax revenue collected by the state of Utah from the sales of tobacco products, including cigarettes, cigars, and other tobacco items.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand for tobacco products and the fiscal impacts of tobacco taxation, which is important for public health and tax policy analysis.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through state government tax revenue reporting.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the public health and fiscal implications of tobacco taxation policies in Utah.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for Utah (QTAXT16QTAXCAT3UTNO), retrieved from FRED.