Total Tax Exemptions Under Age 65 for Utah
LT65EXMUT49A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,652,000.00
Year-over-Year Change
13.99%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the total number of tax exemptions claimed by individuals under the age of 65 in the state of Utah. It provides insights into the demographics and tax burden of the working-age population in the state.
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 Utah is a key indicator of the state's economic and demographic landscape. It reflects the number of working-age individuals claiming tax exemptions, which can have implications for state tax revenue, public service provision, and economic policy decisions.
Methodology
The data is collected by the U.S. Census Bureau through annual surveys and administrative records.
Historical Context
This trend is used by policymakers, economists, and market analysts to understand the tax and demographic profile of Utah's working-age population.
Key Facts
- Utah has a population of over 3.2 million as of 2021.
- The median age in Utah is 31.1 years, younger than the national average.
- Tax exemptions can lower an individual's taxable income and overall tax burden.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of tax exemptions claimed by individuals under the age of 65 in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the demographics and tax burden of the working-age population in Utah, which can inform economic policy decisions and analysis.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through annual surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to understand the tax and demographic profile of Utah's working-age population, which can inform decisions about state tax revenue, public service provision, and economic policy.
Q: Are there update delays or limitations?
A: The data is released annually by the U.S. Census Bureau, so there may be a delay in the most recent information being available.
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Citation
U.S. Census Bureau, Total Tax Exemptions Under Age 65 for Utah (LT65EXMUX49A647NCEN), retrieved from FRED.