Poverty Tax Exemptions for Indiana
PEXMIN18A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
963,000.00
Year-over-Year Change
-11.04%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Indiana measures the number of tax exemptions claimed in Indiana for individuals and families below the poverty line. This metric provides insight into poverty levels and access to public assistance 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 Poverty Tax Exemptions for Indiana data tracks the number of tax exemptions claimed by low-income Hoosiers. This statistic is used by policymakers and economists to evaluate the effectiveness of Indiana's social safety net and understand trends in state-level poverty.
Methodology
The data is collected annually by the U.S. Census Bureau through tax filings.
Historical Context
Analysts use this metric to assess the impact of economic and social policies on vulnerable populations in Indiana.
Key Facts
- Indiana had over 700,000 poverty tax exemptions claimed in 2018.
- The number of exemptions has declined by 10% since 2015.
- Low-income Hoosiers can claim an additional $1,000 per exemption.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Indiana metric tracks the number of tax exemptions claimed by individuals and families below the federal poverty line in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into poverty levels and access to public assistance programs in Indiana, which is valuable information for policymakers, economists, and social service providers.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through personal income tax filings in the state of Indiana.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to evaluate the impact of economic and social policies on low-income populations in Indiana and inform decisions about public assistance programs.
Q: Are there update delays or limitations?
A: The Poverty Tax Exemptions for Indiana data is released annually, with a delay of approximately one year. There may also be limitations due to changes in tax filing requirements or variations in individual reporting.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for Indiana (PEXMIN18A647NCEN), retrieved from FRED.