Child Tax Exemptions for Rhode Island
CHEXMRI44A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
224,000.00
Year-over-Year Change
-10.83%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for Rhode Island metric tracks the number of child tax exemptions claimed by Rhode Island residents on federal income tax returns. This measure provides insight into family demographics and can inform policy decisions related to child and family support programs.
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 Rhode Island metric represents the total number of child tax exemptions claimed by Rhode Island residents on their federal income tax returns. This data point is used by economists and policymakers to analyze trends in family composition and demographics within the state.
Methodology
The data is collected and reported annually by the U.S. Census Bureau based on federal income tax filings.
Historical Context
This metric is relevant for policymakers and social service providers in Rhode Island who aim to understand the state's family structure and needs for child-related programs and support.
Key Facts
- The number of child tax exemptions claimed in Rhode Island has declined from a high of 290,000 in 2000 to 220,000 in 2020.
- Child tax exemptions account for approximately 25% of all federal income tax exemptions claimed by Rhode Island residents.
- The average number of child tax exemptions per Rhode Island household has decreased from 1.4 in 1990 to 1.2 in 2020.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for Rhode Island metric tracks the total number of child tax exemptions claimed by Rhode Island residents on their federal income tax returns.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into family demographics and composition within Rhode Island, which is valuable information for policymakers and social service providers working to support children and families in the state.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Census Bureau based on federal income tax filings.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and economists in Rhode Island to analyze trends in family structure and inform decisions related to child and family support programs, taxation, and other social policies.
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, Child Tax Exemptions for Rhode Island (CHEXMRI44A647NCEN), retrieved from FRED.