Child Tax Exemptions for Indiana
This dataset tracks child tax exemptions for indiana over time.
Latest Value
1670000.00
Year-over-Year Change
-8.51%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for Indiana measures the total number of exemptions claimed for children on state income tax returns filed in Indiana. This metric provides insight into family demographics and the economic impact of child-related 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 Indiana represents the total number of personal exemptions claimed for dependent children on Indiana state income tax returns. This data is used by policymakers and economists to analyze trends in family structure, the financial impact of child-related tax credits, and the broader economic conditions affecting Indiana households.
Methodology
The data is collected by the U.S. Census Bureau through annual surveys of state tax return filings.
Historical Context
Trends in child tax exemptions are closely watched by lawmakers and analysts to gauge the effectiveness of tax policies intended to support families and children.
Key Facts
- Indiana residents claimed over 1.6 million child tax exemptions in 2020.
- Child tax exemptions have increased by 8% in Indiana over the past decade.
- The average Indiana household claims 1.4 child tax exemptions.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for Indiana metric tracks the total number of personal exemptions claimed for dependent children on state income tax returns filed in Indiana.
Q: Why is this trend relevant for users or analysts?
A: Trends in child tax exemptions provide important insights into family demographics, the financial impact of child-related tax policies, and broader economic conditions affecting Indiana households.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through annual surveys of state tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor child tax exemption trends to gauge the effectiveness of tax policies intended to support families and children in Indiana.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay as the Census Bureau compiles tax return information.
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Citation
U.S. Census Bureau, Child Tax Exemptions for Indiana (CHEXMIN18A647NCEN), retrieved from FRED.