Total Tax Exemptions Under Age 65 for Alabama
This dataset tracks total tax exemptions under age 65 for alabama over time.
Latest Value
3308000.00
Year-over-Year Change
-6.13%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the total number of tax exemptions claimed for individuals under age 65 in the state of Alabama. It provides insights into demographic and income distribution patterns relevant for tax policy and economic analysis.
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 Total Tax Exemptions Under Age 65 for Alabama trend tracks the number of personal tax exemptions claimed by state residents under the age of 65. This data point helps economists and policymakers understand the working-age population and household composition in Alabama.
Methodology
The data is collected annually by the U.S. Census Bureau through tax return filings.
Historical Context
This metric is useful for analyzing state-level demographic and economic conditions that can inform tax, social, and fiscal policy decisions.
Key Facts
- Alabama has over 3 million residents under age 65.
- Tax exemptions represent income and household size.
- This data dates back to 1980 in the FRED database.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of personal tax exemptions claimed by Alabama residents under the age of 65. It reflects the working-age population and household composition in the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into demographic and income distribution patterns in Alabama, which can inform tax, social, and fiscal policy decisions at the state level.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through individual tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze state-level demographic and economic conditions that can inform tax, social, and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is updated annually, with a typical 1-2 year delay between the reference year and public release.
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Citation
U.S. Federal Reserve, Total Tax Exemptions Under Age 65 for Alabama (LT65EXMAL1A647NCEN), retrieved from FRED.