Poverty Tax Exemptions for Nebraska
This dataset tracks poverty tax exemptions for nebraska over time.
Latest Value
225000.00
Year-over-Year Change
-8.63%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Nebraska metric tracks the number of individuals in Nebraska who claim an exemption from state income taxes due to low income. This statistic is important for understanding poverty levels and the effectiveness of the state's tax policies.
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 Nebraska data series measures the number of Nebraska residents who qualify for and claim a state income tax exemption based on their low-income status. This metric provides insight into the prevalence of poverty in the state and helps policymakers evaluate the impact of tax policies intended to support low-income households.
Methodology
The data is collected by the Nebraska Department of Revenue through state income tax filings.
Historical Context
Trends in Poverty Tax Exemptions for Nebraska are relevant for state tax and social welfare policy discussions.
Key Facts
- Poverty Tax Exemptions in Nebraska peaked in 2020 at over 350,000 claims.
- The exemption threshold is set at 100% of the federal poverty line.
- Nebraska's Poverty Tax Exemption policy has been in place since the 1970s.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Nebraska metric tracks the number of individuals in the state who claim an exemption from state income taxes due to their low-income status.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into poverty levels in Nebraska and helps policymakers evaluate the effectiveness of the state's tax policies in supporting low-income households.
Q: How is this data collected or calculated?
A: The data is collected by the Nebraska Department of Revenue through state income tax filings.
Q: How is this trend used in economic policy?
A: Trends in Poverty Tax Exemptions for Nebraska are relevant for state tax and social welfare policy discussions.
Q: Are there update delays or limitations?
A: The data is published on an annual basis, with a delay of several months after the end of the tax year.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for Nebraska (PEXMNE31A647NCEN), retrieved from FRED.