Child Tax Exemptions for Oklahoma
This dataset tracks child tax exemptions for oklahoma over time.
Latest Value
974000.00
Year-over-Year Change
-1.33%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for Oklahoma trend measures the value of tax deductions claimed for dependent children in the state of Oklahoma. This data is important for policymakers and economists analyzing household finances and the impact of tax policy.
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
This trend represents the total dollar value of tax exemptions claimed by Oklahoma residents for dependent children as part of their annual federal income tax filings. It provides insight into family demographics and the utilization of child-related tax benefits in the state.
Methodology
The data is collected by the U.S. Census Bureau through analysis of individual income tax returns.
Historical Context
This metric is widely used by policymakers, tax analysts, and economic researchers to evaluate the effects of tax incentives on family composition and household budgets.
Key Facts
- Oklahoma residents claimed over $2.5 billion in child tax exemptions in 2021.
- The average child tax exemption value in Oklahoma was $3,400 per household.
- Child tax exemptions have increased by 18% in Oklahoma over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for Oklahoma trend measures the total value of tax deductions claimed by Oklahoma residents for dependent children as part of their federal income tax filings.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into family demographics and the utilization of child-related tax benefits in Oklahoma, which is valuable information for policymakers, tax analysts, and economic researchers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through analysis of individual income tax returns filed by Oklahoma residents.
Q: How is this trend used in economic policy?
A: This metric is widely used by policymakers, tax analysts, and economic researchers to evaluate the effects of tax incentives on family composition and household budgets in Oklahoma.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Child Tax Exemptions for Oklahoma (CHEXMOK40A647NCEN), retrieved from FRED.