Age 65 and Over Tax Exemptions for Missouri
AGEXMMO29A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
831,000.00
Year-over-Year Change
44.88%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend tracks the number of tax exemptions claimed by Missouri residents aged 65 and over. It provides insights into the financial status and tax burden of the state's senior population.
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 Age 65 and Over Tax Exemptions for Missouri metric quantifies the number of personal income tax exemptions claimed by Missouri residents who are 65 years of age or older. This data point is useful for analyzing the economic circumstances and tax profiles of the state's aging population.
Methodology
The data is collected through individual income tax returns filed with the Missouri Department of Revenue.
Historical Context
This trend can inform policy decisions related to senior citizen tax relief and retirement income security.
Key Facts
- Missouri has over 1 million residents aged 65 and older.
- Tax exemptions for seniors can reduce their overall tax burden.
- The number of seniors claiming exemptions has increased over time.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of personal income tax exemptions claimed by Missouri residents aged 65 and over.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into the financial status and tax burden of Missouri's senior population, which can inform policy decisions related to retirement income security.
Q: How is this data collected or calculated?
A: The data is collected through individual income tax returns filed with the Missouri Department of Revenue.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to senior citizen tax relief and retirement income security in Missouri.
Q: Are there update delays or limitations?
A: The data may be subject to delays in tax return processing and filing.
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Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for Missouri (AGEXMMO29A647NCEN), retrieved from FRED.