State Tax Collections: T16 Tobacco Products Sales Tax for West Virginia
QTAXT16QTAXCAT3WVNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.00
Year-over-Year Change
-17.95%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the quarterly tobacco products sales tax collections for the state of West Virginia. It provides valuable insights into consumer behavior and tax revenue generation related to tobacco products.
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 West Virginia series tracks the total revenue collected by the state government through taxes levied on the sale of tobacco products. This data is used by policymakers and economists to analyze the impact of taxation on tobacco consumption and its implications for public health and fiscal policy.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Historical Context
Trends in tobacco tax collections are closely monitored by government agencies, public health organizations, and the tobacco industry as they inform policy decisions and market dynamics.
Key Facts
- West Virginia collected $25.7 million in tobacco products sales tax in Q4 2022.
- Tobacco tax revenue accounts for 2.3% of West Virginia's total state tax collections.
- Tobacco tax rates in West Virginia are among the lowest in the nation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly tobacco products sales tax collections for the state of West Virginia. It provides insights into consumer behavior and tax revenue generation related to tobacco products.
Q: Why is this trend relevant for users or analysts?
A: Trends in tobacco tax collections are closely monitored by policymakers, public health organizations, and the tobacco industry as they inform policy decisions and market dynamics.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau through its Quarterly Summary of State and Local Tax Revenue survey.
Q: How is this trend used in economic policy?
A: Tobacco tax revenue is an important source of funding for state governments, and trends in this data are used to inform public health and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and may not capture all tax collections due to differences in state reporting practices.
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Citation
U.S. Federal Reserve, State Tax Collections: T16 Tobacco Products Sales Tax for West Virginia (QTAXT16QTAXCAT3WVNO), retrieved from FRED.