I found a theorem about multigraded Hilbert series stated as follows:

Let $R$ be a Noetherian multigraded algebra $R:=\bigoplus_{j\in\mathbb{N}^m}{R_j}$ over $R_0=\mathbb{C}$. If $R$ is generated by $h$ homogeneous polynomials of multidegrees $\alpha_1,\dots,\alpha_h$, then its Hilbert series $HS_R(\mathbf{t})$ can be expressed as $$HS_R(\mathbf{t})=\frac{P(\mathbf{t})}{\prod_{\ell=1}^h{(1-\mathbf{t}^{\alpha_\ell})}},$$ where $P(\mathbf{t})$ is a polynomial with integer coefficients. Furthermore, if $R$ is freely generated, then $P(\mathbf{t})=1$. (here $\mathbb{t}^{\alpha}=t_1^{\alpha_1}\cdots t_n^{\alpha_n}$).

I can no longer find the place where I read this. If anyone could provide me with a reference, that would be greatly appreciated.

Introduction to Commutative Algebra, carries over to the multigraded case. It is also an easy consequence of the Hilbert syzygy theorem. $\endgroup$ – Richard Stanley May 13 '15 at 23:56