Mean Adjusted Gross Income for Wyoming
MEANAGIWY56A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115,000.00
Year-over-Year Change
66.44%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Wyoming measures the average income reported on federal tax returns by Wyoming residents. This metric is crucial for understanding economic well-being and tax policy 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 Mean Adjusted Gross Income for Wyoming represents the mean total income minus allowable deductions reported on federal tax returns filed by individuals residing in the state. This statistic provides insight into the overall economic condition and standard of living in Wyoming.
Methodology
The data is collected annually by the U.S. Census Bureau from individual tax return filings.
Historical Context
Policymakers and economists use this metric to analyze income trends and guide fiscal and economic policies in Wyoming.
Key Facts
- The mean AGI in Wyoming was $68,305 in 2020.
- Wyoming has no state income tax.
- Incomes in Wyoming are typically higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Wyoming measures the average income reported on federal tax returns by individuals residing in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insight into the overall economic well-being and standard of living in Wyoming, which is valuable for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau from individual tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze income trends and guide fiscal and economic policies in Wyoming.
Q: Are there update delays or limitations?
A: The data is released annually with a delay, and may not capture all income sources or adjustments made to tax returns.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Wyoming (MEANAGIWY56A052NCEN), retrieved from FRED.