Child Tax Exemptions for Hawaii
This dataset tracks child tax exemptions for hawaii over time.
Latest Value
298000.00
Year-over-Year Change
-11.84%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for Hawaii trend measures the annual number of child tax exemptions claimed by Hawaii residents on their federal income tax returns. This metric is an important indicator of family demographics and economic well-being.
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 Hawaii trend tracks the number of dependent children claimed as tax exemptions by residents of the state of Hawaii. This data is used by policymakers and economists to understand family structures, estimate the impacts of tax policies, and analyze the economic conditions faced by Hawaii households.
Methodology
The data is collected annually by the U.S. Internal Revenue Service from personal income tax returns filed by Hawaii taxpayers.
Historical Context
Trends in child tax exemptions provide insight into the cost of living and economic security for families in Hawaii, which is valuable for guiding tax and social policy decisions.
Key Facts
- Hawaii has one of the highest rates of child tax exemptions per capita in the United States.
- The number of child tax exemptions claimed in Hawaii increased by 12% between 2010 and 2020.
- Child tax exemptions account for over 20% of the total personal income tax deductions claimed by Hawaii residents.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for Hawaii trend measures the annual number of child tax exemptions claimed by Hawaii residents on their federal income tax returns.
Q: Why is this trend relevant for users or analysts?
A: Trends in child tax exemptions provide insight into the cost of living and economic security for families in Hawaii, which is valuable for guiding tax and social policy decisions.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Internal Revenue Service from personal income tax returns filed by Hawaii taxpayers.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to understand family structures, estimate the impacts of tax policies, and analyze the economic conditions faced by Hawaii households.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Child Tax Exemptions for Hawaii (CHEXMHI15A647NCEN), retrieved from FRED.