Age 65 and Over Tax Exemptions for Nebraska
AGEXMNE31A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
265,000.00
Year-over-Year Change
47.34%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the number of tax exemptions claimed by individuals aged 65 and over in the state of Nebraska. Understanding this data is important for policymakers and researchers analyzing tax policy and retirement 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
The Age 65 and Over Tax Exemptions for Nebraska data series tracks the total number of personal income tax exemptions claimed by Nebraska residents aged 65 and older. This metric provides insight into the size and demographics of the state's senior population and can inform policy decisions related to taxation, retirement income, and social services.
Methodology
The data is collected and published annually by the U.S. Internal Revenue Service based on individual income tax filings.
Historical Context
This economic trend is relevant for state and local policymakers, tax analysts, and retirement researchers studying the economic status and tax burdens of older adults.
Key Facts
- Nebraska has over 300,000 residents aged 65 and older.
- The average tax exemption for seniors in Nebraska is around $4,000.
- Tax exemptions for seniors contribute to over $1 billion in foregone state revenue annually.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of personal income tax exemptions claimed by Nebraska residents aged 65 and older.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the size and economic status of Nebraska's senior population, which is critical for policymakers analyzing tax policy, retirement trends, and social services.
Q: How is this data collected or calculated?
A: The data is collected and published annually by the U.S. Internal Revenue Service based on individual income tax filings.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand the tax burdens and economic circumstances of older adults in Nebraska, informing decisions around taxation, retirement income, and social programs.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year, so the most recent figures may not reflect the current year's activity.
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Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for Nebraska (AGEXMNE31A647NCEN), retrieved from FRED.