Child Tax Exemptions for Kentucky
CHEXMKY21A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,040,000.00
Year-over-Year Change
-5.29%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for Kentucky trend measures the number of individual state tax exemptions claimed for dependent children by Kentucky residents. This metric is important for policymakers to understand family demographics and the potential impact of changes to state child tax policies.
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 Child Tax Exemptions for Kentucky data represents the total number of dependent child exemptions claimed on individual income tax returns filed by Kentucky residents. This provides insight into family structure and can be used to evaluate the fiscal and economic implications of state-level child tax policies.
Methodology
The data is collected by the U.S. Census Bureau through annual surveys of individual tax filings.
Historical Context
Policymakers and economists use this metric to assess the effects of state tax credits, deductions, and other programs targeting families with children.
Key Facts
- Kentucky residents claimed over 1 million child tax exemptions in 2021.
- The average number of child exemptions per tax return was 1.4 in Kentucky.
- Child tax exemptions account for a significant portion of total individual tax deductions in the state.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for Kentucky trend measures the total number of dependent child exemptions claimed on individual income tax returns filed by Kentucky residents.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into family demographics and the potential impact of changes to state-level child tax policies in Kentucky.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through annual surveys of individual tax filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the effects of state tax credits, deductions, and other programs targeting families with children.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay as it is collected through individual tax return filings.
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Citation
U.S. Census Bureau, Child Tax Exemptions for Kentucky (CHEXMKY21A647NCEN), retrieved from FRED.