Poverty, Child Tax Exemptions for West Virginia
This dataset tracks poverty, child tax exemptions for west virginia over time.
Latest Value
84000.00
Year-over-Year Change
-18.39%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the number of child tax exemptions claimed in West Virginia, which provides insight into poverty and family dynamics 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 child tax exemptions data for West Virginia tracks the number of dependents claimed on tax returns, serving as a proxy for the state's child poverty rate and family economic well-being.
Methodology
The data is collected annually from individual tax returns filed with the U.S. Internal Revenue Service.
Historical Context
Policymakers and researchers use this trend to understand the socioeconomic landscape and guide programs aimed at supporting low-income families in West Virginia.
Key Facts
- West Virginia has one of the highest child poverty rates in the U.S.
- The number of child tax exemptions claimed has declined over the past decade.
- Trends in child tax exemptions correlate with changes in state-level support programs.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of child tax exemptions claimed on tax returns in West Virginia, which serves as a proxy for the state's child poverty rate and family economic well-being.
Q: Why is this trend relevant for users or analysts?
A: The child tax exemptions data provides valuable insights into the socioeconomic dynamics of West Virginia, helping policymakers and researchers understand poverty levels and guide programs aimed at supporting low-income families in the state.
Q: How is this data collected or calculated?
A: The data is collected annually from individual tax returns filed with the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and researchers use this trend to understand the economic landscape in West Virginia and develop programs and policies to address child poverty and support low-income families in the state.
Q: Are there update delays or limitations?
A: The data is released annually, with a slight delay as it is collected from individual tax returns. There may be limitations in capturing all child dependents, as some families may not claim the exemption.
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Citation
U.S. Federal Reserve, Poverty, Child Tax Exemptions for West Virginia (PCHEXMWV54A647NCEN), retrieved from FRED.