Poverty, Child Tax Exemptions for Alabama
PCHEXMAL1A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
312,000.00
Year-over-Year Change
-8.74%
Date Range
1/1/1989 - 1/1/2022
Summary
The 'Poverty, Child Tax Exemptions for Alabama' trend measures the number of child tax exemptions claimed on Alabama state income tax returns, which provides insight into poverty and financial well-being 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
This economic indicator tracks the number of child tax exemptions claimed by Alabama taxpayers, which is a proxy for the number of children living in households in the state. It offers insights into the prevalence of poverty and the financial standing of families in Alabama.
Methodology
The data is collected from Alabama state income tax returns.
Historical Context
This trend is used by policymakers and economists to understand family financial health and poverty levels in Alabama.
Key Facts
- Alabama has a child poverty rate of 23.3% as of 2020.
- The number of child tax exemptions claimed has declined by 8% since 2015.
- Low-income families in Alabama claim an average of 1.7 child tax exemptions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of child tax exemptions claimed on Alabama state income tax returns, which provides insight into poverty and financial well-being in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend offers valuable insights into the prevalence of poverty and the financial standing of families in Alabama, which is crucial information for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected from Alabama state income tax returns.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to understand family financial health and poverty levels in Alabama, which informs policy decisions and economic analysis.
Q: Are there update delays or limitations?
A: The data is updated annually with a delay of several months, and it may not capture all child tax exemptions claimed due to factors such as non-filing or tax avoidance.
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Citation
U.S. Federal Reserve, Poverty, Child Tax Exemptions for Alabama (PCHEXMAL1A647NCEN), retrieved from FRED.