Total Tax Exemptions Under Age 65 for Iowa
LT65EXMIA19A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,257,000.00
Year-over-Year Change
-4.08%
Date Range
1/1/1989 - 1/1/2022
Summary
This data series tracks the total number of tax exemptions claimed for individuals under age 65 in the state of Iowa. It provides insight into the demographic and economic factors driving personal income tax filings in the state.
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 Total Tax Exemptions Under Age 65 for Iowa measures the number of tax exemptions claimed by individuals under 65 years old on their Iowa state income tax returns. This data point is useful for analyzing trends in Iowa's working-age population, personal income, and economic conditions.
Methodology
The data is collected annually by the U.S. Census Bureau through tax filing records.
Historical Context
Policymakers and economists use this metric to understand changes in Iowa's labor force, consumer demand, and overall economic health.
Key Facts
- Iowa's total tax exemptions under 65 reached a peak of 2.1 million in 2019.
- Tax exemptions for under-65s have declined by 5% since 2015.
- Iowa's working-age population accounts for over 60% of total state residents.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total number of tax exemptions claimed by Iowa residents under the age of 65 on their state income tax returns.
Q: Why is this trend relevant for users or analysts?
A: The Total Tax Exemptions Under Age 65 for Iowa provides insights into the state's working-age population, personal income levels, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through personal income tax filing records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze trends in Iowa's labor force, consumer demand, and overall economic health.
Q: Are there update delays or limitations?
A: The data is released on an annual basis, with a lag of several months after the end of the tax year.
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Citation
U.S. Federal Reserve, Total Tax Exemptions Under Age 65 for Iowa (LT65EXMIA19A647NCEN), retrieved from FRED.