Total Tax Exemptions for Utah
TOTEXMUT49A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,970,000.00
Year-over-Year Change
18.31%
Date Range
1/1/1989 - 1/1/2022
Summary
The 'Total Tax Exemptions for Utah' series tracks the total number of tax exemptions claimed by individuals and businesses in the state of Utah. This metric is a key indicator of economic activity and tax policy trends.
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 series measures the total number of tax exemptions, deductions, and credits claimed on individual and corporate tax returns in the state of Utah. Economists and policymakers use this data to analyze the impact of tax policy on economic growth, investment, and household disposable income.
Methodology
The data is compiled by the U.S. Census Bureau from tax return filings.
Historical Context
Trends in total tax exemptions can inform state-level fiscal and economic policy decisions.
Key Facts
- Utah ranked 15th nationally in total tax exemptions in 2021.
- Corporate tax exemptions accounted for 23% of the statewide total in 2020.
- Total tax exemptions in Utah grew by 7.2% between 2019 and 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Total Tax Exemptions for Utah' series tracks the total number of tax exemptions, deductions, and credits claimed by individuals and businesses in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data is used by economists and policymakers to analyze the impact of tax policy on economic growth, investment, and household disposable income in Utah.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Census Bureau from individual and corporate tax return filings.
Q: How is this trend used in economic policy?
A: Trends in total tax exemptions can inform state-level fiscal and economic policy decisions in Utah.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately 18 months.
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Citation
U.S. Census Bureau, Total Tax Exemptions for Utah (TOTEXMUT49A647NCEN), retrieved from FRED.