Total Tax Exemptions Under Age 65 for Kentucky
This dataset tracks total tax exemptions under age 65 for kentucky over time.
Latest Value
3071000.00
Year-over-Year Change
-4.90%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the total number of tax exemptions claimed for individuals under age 65 in the state of Kentucky. It provides insight into demographic and economic factors driving individual tax filings.
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 Kentucky tracks the number of personal exemptions claimed on individual income tax returns filed by residents under the age of 65. This metric can indicate changes in the state's working-age population, family structures, and economic conditions.
Methodology
The data is collected annually from individual income tax returns filed with the Internal Revenue Service.
Historical Context
Policymakers and economists use this trend to analyze demographic and economic trends in Kentucky.
Key Facts
- The trend has shown a steady decline since 2010.
- Kentucky's under-65 tax exemptions are below the national average.
- Exemptions peaked in the late 1990s before declining
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of personal tax exemptions claimed by Kentucky residents under the age of 65 on their annual income tax returns.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the demographic and economic factors driving individual tax filings in Kentucky, which is useful for policymakers and economists analyzing the state's economic and population trends.
Q: How is this data collected or calculated?
A: The data is collected annually from individual income tax returns filed with the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze demographic and economic trends in Kentucky, which can inform policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is published annually, so there may be a delay of up to a year in the most recent figures being available.
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Citation
U.S. Federal Reserve, Total Tax Exemptions Under Age 65 for Kentucky (LT65EXMKY21A647NCEN), retrieved from FRED.