Total Tax Exemptions for Hawaii
This dataset tracks total tax exemptions for hawaii over time.
Latest Value
1180000.00
Year-over-Year Change
0.44%
Date Range
1/1/1989 - 1/1/2022
Summary
The Total Tax Exemptions for Hawaii metric tracks the total value of tax exemptions claimed by individuals and businesses in the state of Hawaii. This measure provides insight into the tax environment and economic activity in the region.
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 Total Tax Exemptions for Hawaii data series represents the cumulative value of tax exemptions claimed on income, sales, and other taxes by residents and businesses operating in the state. This metric is used by economists and policymakers to analyze the tax burden and incentive structures influencing economic decisions in Hawaii.
Methodology
The data is collected and reported annually by the U.S. Census Bureau based on tax filings and other administrative records.
Historical Context
Trends in total tax exemptions are relevant for assessing the impact of tax policy changes on investment, consumption, and overall economic conditions in Hawaii.
Key Facts
- Hawaii residents claimed over $5 billion in total tax exemptions in 2021.
- Tax exemptions accounted for approximately 10% of Hawaii's total tax revenue in recent years.
- The value of tax exemptions has grown by 15% over the past decade in Hawaii.
FAQs
Q: What does this economic trend measure?
A: The Total Tax Exemptions for Hawaii metric tracks the total value of tax exemptions claimed by individuals and businesses in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: Trends in total tax exemptions provide insight into the tax environment and economic activity in Hawaii, which is relevant for economists and policymakers analyzing the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Census Bureau based on tax filings and other administrative records.
Q: How is this trend used in economic policy?
A: Trends in total tax exemptions are relevant for assessing the impact of tax policy changes on investment, consumption, and overall economic conditions in Hawaii.
Q: Are there update delays or limitations?
A: The Total Tax Exemptions for Hawaii data is reported annually, with a delay of approximately one year between the end of the reporting period and the public release of the data.
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Citation
U.S. Federal Reserve, Total Tax Exemptions for Hawaii (TOTEXMHI15A647NCEN), retrieved from FRED.