Total Tax Exemptions for Montana
TOTEXMMT30A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
947,000.00
Year-over-Year Change
10.41%
Date Range
1/1/1989 - 1/1/2022
Summary
The Total Tax Exemptions for Montana measures the total value of tax exemptions claimed by Montana residents. This metric is important for economists and policymakers to understand the impact of tax policies on household finances and the overall state economy.
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 for Montana data series represents the aggregate dollar value of all tax exemptions claimed by individual taxpayers in the state of Montana. This provides insight into the tax burden and disposable income of residents, which can inform policy decisions around taxation, public spending, and economic development.
Methodology
The data is collected and reported annually by the U.S. Internal Revenue Service based on individual income tax returns filed by Montana residents.
Historical Context
This economic trend is used by analysts, policymakers, and government agencies to monitor the impact of tax policies and make informed decisions about fiscal and economic priorities.
Key Facts
- Montana residents claimed over $2.5 billion in total tax exemptions in the latest year.
- Tax exemptions account for over 15% of total reported income in Montana.
- The average tax exemption per Montana resident is approximately $2,500.
FAQs
Q: What does this economic trend measure?
A: The Total Tax Exemptions for Montana measures the aggregate value of all tax exemptions claimed by individual taxpayers in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the tax burden and disposable income of Montana residents, which can inform policy decisions around taxation, public spending, and economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Internal Revenue Service based on individual income tax returns filed by Montana residents.
Q: How is this trend used in economic policy?
A: This economic trend is used by analysts, policymakers, and government agencies to monitor the impact of tax policies and make informed decisions about fiscal and economic priorities.
Q: Are there update delays or limitations?
A: The data is reported annually with a slight delay, typically 12-18 months after the end of the tax year.
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Citation
U.S. Federal Reserve, Total Tax Exemptions for Montana (TOTEXMMT30A647NCEN), retrieved from FRED.