Child Tax Exemptions for South Dakota
CHEXMSD46A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
225,000.00
Year-over-Year Change
3.19%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for South Dakota trend measures the value of federal income tax exemptions claimed for dependent children in South Dakota. This metric is crucial for understanding the financial resources available to families and the state's demographic profile.
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 South Dakota trend represents the total dollar value of federal income tax exemptions claimed by South Dakota residents for dependent children. This data provides insights into family composition, income levels, and the overall economic well-being of the state's population.
Methodology
The data is collected and calculated by the U.S. Census Bureau through annual surveys of individual tax returns.
Historical Context
This trend is widely used by policymakers, economists, and market analysts to assess the financial resources and spending power of South Dakota families.
Key Facts
- South Dakota claimed over $1.2 billion in child tax exemptions in 2020.
- The average child tax exemption in South Dakota was $4,500 in 2020.
- Child tax exemptions account for approximately 10% of South Dakota's total personal income.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for South Dakota trend measures the total dollar value of federal income tax exemptions claimed by residents of South Dakota for dependent children.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the financial resources and spending power of South Dakota families, which is crucial for understanding the state's demographic profile and economic well-being.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through annual surveys of individual tax returns.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to assess the financial resources and spending power of South Dakota families, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is typically released with a one-year lag, and may be subject to revisions as the Census Bureau refines its methodology.
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Citation
U.S. Census Bureau, Child Tax Exemptions for South Dakota (CHEXMSD46A647NCEN), retrieved from FRED.