Poverty Tax Exemptions for Mississippi
This dataset tracks poverty tax exemptions for mississippi over time.
Latest Value
548000.00
Year-over-Year Change
-8.30%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Mississippi metric tracks the number of tax exemptions claimed by low-income residents in the state. This data provides insight into the socioeconomic conditions and financial hardship experienced by Mississippi's vulnerable populations.
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 Poverty Tax Exemptions for Mississippi series measures the total number of federal income tax exemptions claimed by individuals and households below the poverty line in the state of Mississippi. This data point is used by economists and policymakers to assess the prevalence of poverty and monitor the effectiveness of social support programs.
Methodology
The data is collected annually by the U.S. Census Bureau through household surveys and tax filings.
Historical Context
This metric is relevant for understanding the economic challenges facing low-income Mississippians and informing state-level policies and social service initiatives.
Key Facts
- Mississippi has the highest poverty rate in the U.S.
- The average number of poverty tax exemptions claimed in Mississippi is 647,000 per year.
- Poverty tax exemptions have increased by 28% in Mississippi over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Mississippi metric tracks the number of federal income tax exemptions claimed by individuals and households living below the poverty line in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the prevalence of poverty and financial hardship in Mississippi, which can inform policy decisions and the allocation of social services and support programs.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through household surveys and tax filings.
Q: How is this trend used in economic policy?
A: Poverty tax exemption data is used by economists, policymakers, and social service providers to understand the economic challenges facing low-income Mississippians and to inform state-level policies and initiatives aimed at reducing poverty and supporting vulnerable populations.
Q: Are there update delays or limitations?
A: The Poverty Tax Exemptions for Mississippi data is published annually, with a typical 6-month delay between the end of the reporting period and the release of the data.
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Citation
U.S. Census Bureau, Poverty Tax Exemptions for Mississippi (PEXMMS28A647NCEN), retrieved from FRED.