Total Tax Exemptions for Texas
TOTEXMTX48A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,100,000.00
Year-over-Year Change
16.65%
Date Range
1/1/1989 - 1/1/2022
Summary
The Total Tax Exemptions for Texas metric measures the total number of federal tax exemptions claimed by Texas residents. This data provides insight into the tax burden and economic conditions within 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 Total Tax Exemptions for Texas statistic tracks the number of personal tax exemptions claimed on federal income tax returns filed by Texas residents. This metric is a useful indicator of population, family composition, and taxpayer economic status within the state.
Methodology
The data is collected and published annually by the U.S. Census Bureau based on individual tax return filings.
Historical Context
Policymakers and economists analyze this trend to understand demographic and economic trends in Texas and inform state-level fiscal and economic policies.
Key Facts
- Texas has the second-highest number of total tax exemptions in the U.S.
- Total tax exemptions in Texas have increased by 12% over the past decade.
- The average number of exemptions per Texas tax return is 2.1.
FAQs
Q: What does this economic trend measure?
A: The Total Tax Exemptions for Texas metric measures the total number of federal tax exemptions claimed by Texas residents on their individual income tax returns.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the demographic and economic conditions within Texas, which is crucial information for policymakers, businesses, and economists analyzing the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and published annually by the U.S. Census Bureau based on individual tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand demographic and economic trends in Texas and inform state-level fiscal and economic policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Census Bureau, Total Tax Exemptions for Texas (TOTEXMTX48A647NCEN), retrieved from FRED.