Total Tax Exemptions Under Age 65 for California
This dataset tracks total tax exemptions under age 65 for california over time.
Latest Value
27980000.00
Year-over-Year Change
-2.20%
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 California. It provides insight into California's population demographics and tax-filing patterns.
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 California metric represents the number of personal tax exemptions claimed on tax returns by California residents younger than 65 years old. This data point is useful for analyzing California's population composition and trends in tax filing behavior.
Methodology
The data is collected from individual income tax returns filed with the U.S. Internal Revenue Service.
Historical Context
This metric is relevant for policymakers and economists studying California's economic and demographic landscape.
Key Facts
- California has the largest population in the U.S.
- Tax exemptions indicate number of dependents claimed
- Trends can reveal shifts in California's age distribution
FAQs
Q: What does this economic trend measure?
A: This metric measures the total number of personal tax exemptions claimed by California residents under the age of 65 on their income tax returns.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the demographics and tax-filing patterns of California's population, which is valuable information for policymakers, economists, and researchers studying the state's economic and social landscape.
Q: How is this data collected or calculated?
A: The data is collected from individual income tax returns filed with the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: This metric can be used by policymakers and economists to analyze population trends, assess the impact of tax policies, and make informed decisions about California's economic and social programs.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule of the U.S. Internal Revenue Service, and there may be a lag between the tax filing period and the availability of the published statistics.
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Citation
U.S. Federal Reserve, Total Tax Exemptions Under Age 65 for California (LT65EXMCA6A647NCEN), retrieved from FRED.