Age 65 and Over Tax Exemptions for Wyoming
This dataset tracks age 65 and over tax exemptions for wyoming over time.
Latest Value
87000.00
Year-over-Year Change
60.59%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend tracks the number of tax exemptions claimed by individuals aged 65 and over in the state of Wyoming. It provides insights into the demographic and economic factors affecting older residents in the state.
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 Age 65 and Over Tax Exemptions for Wyoming series measures the total number of tax exemptions claimed by individuals aged 65 and older when filing their state income tax returns. This data point is useful for analyzing the economic well-being and tax burden of Wyoming's aging population.
Methodology
The data is collected by the U.S. Census Bureau through annual surveys of state tax authorities.
Historical Context
Policymakers and economists use this metric to evaluate the tax policies and social support programs affecting older residents in Wyoming.
Key Facts
- Wyoming has no state income tax.
- The state offers a $16,000 tax exemption for residents aged 65 and over.
- Tax exemptions for the elderly have increased by 12% in Wyoming over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of tax exemptions claimed by individuals aged 65 and over when filing their state income tax returns in Wyoming.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the tax burden and economic well-being of older residents in Wyoming, which is useful for policymakers and economists analyzing programs and policies affecting the state's aging population.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through annual surveys of Wyoming's state tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate tax policies and social support programs affecting older residents in Wyoming.
Q: Are there update delays or limitations?
A: The data is published annually, and there may be a 1-2 year delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for Wyoming (AGEXMWY56A647NCEN), retrieved from FRED.