Mean Adjusted Gross Income for Indiana
MEANAGIIN18A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80,000.00
Year-over-Year Change
55.13%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Indiana measures the average income reported on individual tax returns in the state. This metric is widely used by economists and policymakers to analyze economic trends and inform tax and fiscal policy decisions.
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 Mean Adjusted Gross Income for Indiana represents the mean value of total income minus allowable deductions reported by Indiana residents on their federal income tax returns. This statistic provides insight into the overall economic well-being and standard of living in the state.
Methodology
The data is collected and calculated annually by the U.S. Internal Revenue Service based on individual income tax filings.
Historical Context
Policymakers and analysts use this metric to evaluate the impact of tax policy, cost of living, and other economic factors on Indiana residents.
Key Facts
- The mean AGI for Indiana was $51,610 in 2018.
- Indiana's mean AGI has increased by 12% over the past 10 years.
- Indiana's mean AGI is 5% below the national average.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Indiana measures the average income reported on individual tax returns in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall economic well-being and standard of living in Indiana, which is useful for policymakers, economists, and residents.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the U.S. Internal Revenue Service based on individual income tax filings.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the impact of tax policy, cost of living, and other economic factors on Indiana residents.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, reflecting the time required for individual tax returns to be filed and processed.
Related Trends
Total Tax Exemptions Under Age 65 for District of Columbia
LT65EXMDC11A647NCEN
State Tax Collections: T24 Motor Vehicles License for Connecticut
QTAXT24QTAXCAT3CTNO
State Tax Collections: T15 Public Utilities Sales Tax for Florida
QTAXT15QTAXCAT3FLNO
State Tax Collections: T12 Insurance Premiums Sales Tax for Alabama
QTAXT12QTAXCAT3ALNO
Individual Income Tax Filing: Exemptions for Taxpayer's age 65 or Over: Primary Taxpayer
NBCFTOATPT
State Tax Collections: T28 Occupation and Business License, Not Elsewhere Classified for the United States
QTAXT28QTAXCAT3USNO
Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Indiana (MEANAGIIN18A052NCEN), retrieved from FRED.