Child Tax Exemptions for Colorado
This dataset tracks child tax exemptions for colorado over time.
Latest Value
1280000.00
Year-over-Year Change
-4.55%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for Colorado trend measures the number of child tax exemptions claimed by Colorado taxpayers. This data provides insights into family demographics and economic conditions 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 Child Tax Exemptions for Colorado statistic tracks the total number of child tax exemptions claimed on federal income tax returns filed by Colorado residents. This metric is useful for analyzing population growth, family structures, and the impact of tax policies on Colorado households.
Methodology
The data is collected from individual income tax returns filed with the Internal Revenue Service (IRS).
Historical Context
Policymakers and economists monitor this trend to assess the economic well-being of Colorado families and the effects of tax code changes.
Key Facts
- Colorado residents claimed over 2 million child tax exemptions in 2021.
- The child tax exemption amount was $2,000 per qualifying child in 2021.
- Claim rates for child tax exemptions vary across Colorado's counties and metropolitan areas.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for Colorado trend measures the total number of child tax exemptions claimed on federal income tax returns filed by Colorado residents.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the demographics and economic conditions of Colorado families, which is useful for policymakers, economists, and analysts.
Q: How is this data collected or calculated?
A: The data is collected from individual income tax returns filed with the Internal Revenue Service (IRS).
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the economic well-being of Colorado families and the effects of tax code changes.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting or revisions, as it is based on individual tax filings.
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Citation
U.S. Federal Reserve, Child Tax Exemptions for Colorado (CHEXMCO8A647NCEN), retrieved from FRED.