Child Tax Exemptions for Arizona
This dataset tracks child tax exemptions for arizona over time.
Latest Value
1630000.00
Year-over-Year Change
-3.59%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for Arizona measures the number of tax exemptions claimed for dependent children in the state of Arizona. This metric is important for economists and policymakers to understand family demographics and the impact of tax policies.
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 Child Tax Exemptions for Arizona data series tracks the total number of federal tax exemptions claimed for dependent children by Arizona residents. This provides insight into family structures, household incomes, and the effectiveness of child-related tax policies in the state.
Methodology
The data is collected annually by the U.S. Internal Revenue Service from individual tax returns.
Historical Context
Policymakers use this metric to evaluate the impact of tax credits and deductions on household budgets and child welfare.
Key Facts
- Arizona residents claimed over 1.7 million child tax exemptions in the latest year.
- The child tax exemption amount was $4,050 per dependent in the most recent tax year.
- Child tax exemptions account for a significant portion of total tax deductions in Arizona.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for Arizona measures the total number of federal tax exemptions claimed for dependent children by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into family demographics, household incomes, and the impact of child-related tax policies in Arizona.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Internal Revenue Service from individual tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers use this data to evaluate the effectiveness of tax credits and deductions on household budgets and child welfare.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months due to tax filing deadlines.
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Citation
U.S. Federal Reserve, Child Tax Exemptions for Arizona (CHEXMAZ4A647NCEN), retrieved from FRED.