State Government Tax Collections, Total Selective Sales Taxes in Rhode Island
RITLSLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,207,247.00
Year-over-Year Change
92.85%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures the total selective sales tax collections by the state government of Rhode Island. It provides insight into consumer spending patterns and the state's tax revenue generation.
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, Total Selective Sales Taxes in Rhode Island metric tracks the revenue collected by the Rhode Island state government from various selective sales taxes, such as taxes on motor fuel, alcohol, and tobacco. This data is used by economists and policymakers to analyze consumer behavior and the state's fiscal health.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This metric is relevant for understanding Rhode Island's economic and fiscal conditions, as well as informing policy decisions related to taxation and public spending.
Key Facts
- Rhode Island's total selective sales tax collections have averaged $444 million per year over the past decade.
- Selective sales taxes account for approximately 25% of Rhode Island's total state tax revenue.
- Motor fuel taxes make up the largest component of Rhode Island's selective sales tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue collected by the Rhode Island state government from various selective sales taxes, such as taxes on motor fuel, alcohol, and tobacco.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending patterns and the state's tax revenue generation, which is important for understanding Rhode Island's economic and fiscal conditions and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This metric is relevant for policymakers in Rhode Island to analyze the state's fiscal health and make informed decisions about taxation and public spending.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Census Bureau, with a typical delay of 3-6 months.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Selective Sales Taxes in Rhode Island (RITLSLTAX), retrieved from FRED.