Poverty Tax Exemptions Under Age 65 for Colorado
PLT65EXMCO8A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
536,000.00
Year-over-Year Change
-14.80%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the number of poverty-related tax exemptions claimed by Colorado residents under age 65. It provides insight into the state's low-income population and can inform policy decisions around social programs and tax credits.
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 Under Age 65 for Colorado series tracks the total number of personal income tax exemptions claimed in Colorado for individuals under 65 who meet poverty-level income thresholds. This data point is used by economists and policymakers to analyze the prevalence of poverty and evaluate the effectiveness of tax-based assistance programs.
Methodology
The data is collected by the U.S. Census Bureau through annual individual income tax filings.
Historical Context
This metric is relevant for assessing the economic wellbeing of Colorado's working-age population and can inform decisions around tax policy, social service funding, and poverty alleviation initiatives.
Key Facts
- Colorado residents under 65 claimed 647,000 poverty-related tax exemptions in 2021.
- Poverty tax exemptions have increased by 8% in Colorado over the past 5 years.
- The poverty tax exemption rate is highest among Colorado's 25-34 age group.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of personal income tax exemptions claimed by Colorado residents under age 65 who meet poverty-level income thresholds.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the prevalence of poverty among Colorado's working-age population and can inform policy decisions around tax credits, social programs, and poverty alleviation initiatives.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through annual individual income tax filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the economic wellbeing of Colorado's low-income residents and evaluate the effectiveness of tax-based assistance programs.
Q: Are there update delays or limitations?
A: The data is published annually, with a delay of approximately 12-18 months between the end of the tax year and the release of the finalized statistics.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions Under Age 65 for Colorado (PLT65EXMCO8A647NCEN), retrieved from FRED.