Total Tax Exemptions Under Age 65 for Washington
LT65EXMWA53A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,590,000.00
Year-over-Year Change
5.69%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the total number of tax exemptions claimed for individuals under 65 years old in the state of Washington. It provides insight into the demographic and economic characteristics of Washington's population.
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 Washington metric represents the number of personal exemptions claimed on federal income tax returns by residents of Washington who are under 65 years old. This data point is a useful indicator of the state's population, income, and tax profiles.
Methodology
The data is collected from individual income tax returns filed with the U.S. Internal Revenue Service.
Historical Context
This metric is used by policymakers, economists, and analysts to study demographic and economic trends in Washington state.
Key Facts
- Washington has over 5 million residents.
- The state's median age is 38.1 years.
- Over 70% of Washington's population is under 65.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of personal tax exemptions claimed by residents of Washington state who are under 65 years old.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the demographic and economic characteristics of Washington's population, which is useful for policymakers, economists, and analysts studying the state.
Q: How is this data collected or calculated?
A: The data is collected from individual income tax returns filed with the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and analysts to study demographic and economic trends in Washington state, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, as it is dependent on the processing of individual tax returns.
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Citation
U.S. Federal Reserve, Total Tax Exemptions Under Age 65 for Washington (LT65EXMWA53A647NCEN), retrieved from FRED.