State Government Tax Collections, Pari-Mutuels - Selective Sales Taxes in Rhode Island
RIPARITAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
515.00
Year-over-Year Change
-65.11%
Date Range
1/1/1951 - 1/1/2022
Summary
This economic trend measures selective sales tax revenue from pari-mutuel betting in the state of Rhode Island. It is an important indicator of economic activity and consumer spending in the state's gambling and gaming sectors.
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 Government Tax Collections, Pari-Mutuels - Selective Sales Taxes in Rhode Island' series tracks tax revenue generated from pari-mutuel betting, which includes horse racing, greyhound racing, and jai alai. This data provides insight into consumer demand and the health of the state's gambling and gaming industries.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government finance.
Historical Context
Pari-mutuel tax revenue is a key data point for policymakers and stakeholders assessing the economic impact of the gambling and gaming sectors in Rhode Island.
Key Facts
- Pari-mutuel taxes account for a small but meaningful portion of Rhode Island's total tax revenue.
- Rhode Island's pari-mutuel tax revenue has remained relatively stable over the past decade.
- Trends in pari-mutuel tax collections are closely watched as an indicator of consumer demand for gambling and gaming activities.
FAQs
Q: What does this economic trend measure?
A: This trend measures selective sales tax revenue generated from pari-mutuel betting activities, such as horse racing, greyhound racing, and jai alai, in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: Pari-mutuel tax revenue is an important indicator of activity and consumer demand in Rhode Island's gambling and gaming sectors, which are key contributors to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government finance.
Q: How is this trend used in economic policy?
A: Pari-mutuel tax revenue data is used by policymakers and stakeholders to assess the economic impact of the gambling and gaming industries in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 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, Pari-Mutuels - Selective Sales Taxes in Rhode Island (RIPARITAX), retrieved from FRED.