Child Tax Exemptions for Maine
This dataset tracks child tax exemptions for maine over time.
Latest Value
262000.00
Year-over-Year Change
-11.08%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for Maine trend measures the number of children claimed as tax exemptions by Maine residents. This data provides insights into family demographics and is relevant for policymakers analyzing the impact of tax policies on Maine households.
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 Maine trend reports the total number of children claimed as tax exemptions by individuals filing tax returns in the state of Maine. This metric is useful for understanding family structures and demographic shifts over time, which can inform decisions around social services, education funding, and other policies affecting Maine residents.
Methodology
The data is collected annually from individual tax returns filed with the U.S. Internal Revenue Service.
Historical Context
This trend is used by economists, policymakers, and researchers to assess the impact of tax policies and demographics on Maine households.
Key Facts
- Maine residents claimed tax exemptions for over 300,000 children in 2021.
- The number of child tax exemptions in Maine has declined by 5% over the past decade.
- Maine has one of the highest rates of child tax exemptions per capita in the Northeastern U.S.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for Maine trend measures the total number of children claimed as tax exemptions by Maine residents on their individual tax returns.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into family demographics and household structures in Maine, which is valuable information for policymakers, economists, and researchers analyzing the impact of tax policies and social programs.
Q: How is this data collected or calculated?
A: The data is collected annually from individual tax returns filed with the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the impact of tax policies and demographic shifts on Maine households, informing decisions around social services, education funding, and other programs affecting families in the state.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year, as it is based on individual tax return filings.
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Citation
U.S. Federal Reserve, Child Tax Exemptions for Maine (CHEXMME23A647NCEN), retrieved from FRED.