Child Tax Exemptions for New York
CHEXMNY36A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,260,000.00
Year-over-Year Change
-13.31%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for New York trend measures the number of child tax exemptions claimed by New York state residents. This metric is important for economists and policymakers to understand family demographics and the impact of tax policy on household finances.
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 New York data series tracks the number of tax exemptions claimed for dependent children by residents filing tax returns in the state of New York. This provides insight into family size and composition, as well as the utilization of tax benefits aimed at supporting families.
Methodology
The data is collected by the U.S. Internal Revenue Service from individual tax returns filed in New York state.
Historical Context
Policymakers use this metric to evaluate the effectiveness of child tax credits and exemptions in supporting families and encouraging population growth.
Key Facts
- New York had over 5 million child tax exemptions claimed in 2021.
- The average number of child exemptions per return is 1.2 in New York.
- Child tax exemptions have declined by 7% in New York over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for New York metric tracks the number of tax exemptions claimed for dependent children by residents filing tax returns in the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into family demographics and the impact of tax policy on household finances in New York.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Internal Revenue Service from individual tax returns filed in New York state.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to evaluate the effectiveness of child tax credits and exemptions in supporting families and encouraging population growth.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most recent tax filing season.
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Citation
U.S. Federal Reserve, Child Tax Exemptions for New York (CHEXMNY36A647NCEN), retrieved from FRED.