State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Rhode Island
RIFUELTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
150,733.00
Year-over-Year Change
86.29%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Rhode Island' metric measures the total tax revenue collected by the Rhode Island state government on the sale of motor fuels. This data provides insights into consumer demand and is relevant for economic 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
This economic indicator tracks the total tax revenue collected by the Rhode Island state government from selective sales taxes on motor fuels, such as gasoline and diesel. The data is used by economists and policymakers to monitor consumer spending patterns and the overall health of the state's transportation sector.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government revenue sources.
Historical Context
Trends in motor fuel tax collections are closely watched by policymakers as an indicator of economic activity and transportation usage.
Key Facts
- Rhode Island's motor fuel tax rate is $0.34 per gallon.
- Motor fuel taxes account for approximately 10% of Rhode Island's total state tax revenue.
- Selective sales taxes on motor fuels provide funding for state infrastructure and transportation projects.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total tax revenue collected by the Rhode Island state government on the sale of motor fuels, such as gasoline and diesel.
Q: Why is this trend relevant for users or analysts?
A: Trends in motor fuel tax collections provide insights into consumer demand and spending patterns, which are important indicators of economic activity and transportation usage.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government revenue sources.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor motor fuel tax collections as an indicator of economic activity and to inform decisions about transportation infrastructure funding and taxation.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Fuels - Selective Sales Taxes in Rhode Island (RIFUELTAX), retrieved from FRED.