Poverty Tax Exemptions for North Carolina
PEXMNC37A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,520,000.00
Year-over-Year Change
-2.47%
Date Range
1/1/1989 - 1/1/2022
Summary
The 'Poverty Tax Exemptions for North Carolina' trend measures the number of tax exemptions claimed in North Carolina for individuals and families living below the poverty line. This provides important insights into poverty levels and economic hardship 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 annual number of poverty-related tax exemptions claimed by North Carolina residents. It serves as a proxy for understanding the extent of poverty and financial struggle experienced by individuals and households in the state.
Methodology
The data is collected by the U.S. Internal Revenue Service from individual tax returns filed in North Carolina.
Historical Context
Policymakers and economists use this trend to assess the prevalence of poverty and guide social welfare programs in the state.
Key Facts
- North Carolina has a poverty rate of 14.7% as of 2021.
- Over 1 million North Carolina residents claimed poverty tax exemptions in 2020.
- The number of exemptions has increased by 8% since 2015.
FAQs
Q: What does this economic trend measure?
A: The 'Poverty Tax Exemptions for North Carolina' indicator tracks the annual number of tax exemptions claimed by individuals and families living below the poverty line in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the prevalence of poverty and financial hardship in North Carolina, which is crucial information for policymakers, social service providers, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Internal Revenue Service from individual tax returns filed in North Carolina.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the extent of poverty in North Carolina and guide the development of social welfare programs and economic policies aimed at addressing financial hardship in the state.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year, reflecting the time required for tax returns to be filed and processed.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for North Carolina (PEXMNC37A647NCEN), retrieved from FRED.