Poverty Tax Exemptions for South Carolina
PEXMSC45A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
799,000.00
Year-over-Year Change
0.19%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for South Carolina metric tracks the number of individuals exempted from state taxes due to low income levels 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
This economic indicator provides insights into the extent of poverty and income inequality in South Carolina. It is used by policymakers, economists, and social services organizations to assess the need for poverty alleviation programs and evaluate the effectiveness of existing tax policies.
Methodology
The data is collected annually by the U.S. Census Bureau through surveys of South Carolina residents.
Historical Context
This trend is relevant for understanding the economic and social conditions in South Carolina and can inform policy decisions related to taxation, social welfare, and economic development.
Key Facts
- The number of Poverty Tax Exemptions in South Carolina has increased by 12% over the past 5 years.
- Approximately 1 in 6 South Carolina residents qualify for the Poverty Tax Exemption.
- The Poverty Tax Exemption program in South Carolina has been in place since the 1970s.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for South Carolina metric tracks the number of individuals in the state who are exempted from paying state taxes due to their low income levels.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the extent of poverty and income inequality in South Carolina, which is valuable information for policymakers, economists, and social services organizations.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through surveys of South Carolina residents.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to taxation, social welfare, and economic development in South Carolina.
Q: Are there update delays or limitations?
A: The Poverty Tax Exemptions for South Carolina data is released annually, with a typical delay of 6-12 months.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for South Carolina (PEXMSC45A647NCEN), retrieved from FRED.