A Tool for Economic Analysis?
03/26/2012 2 Comments
I came across an interesting tool for economic analysis on the Internet. It is a free application on the Transactional Records Access Clearinghouse (TRAC) website, where you can examine the kinds of income flowing to taxpayers in every state and the more than 3,000 counties in the United States. Data cover tax filing years 1991 through 2010.
I took a look at Nevada County. Here is a preview of the County data available:
Note that Nevada County AGI is ranked number 20 in the state. Placer is fifth.
Nevada County is ranked fifth in dividend income across the state, only behind Marin County, San Mateo County, Santa Barbara County, and San Francisco County are ahead of Nevada County. We have many wealthy citizens in Nevada County.
Please note that the IRS county income series are based upon income tax returns from the Internal Revenue Service’s Individual Master File (IMF). The IRS’s Individual Master File includes a record for every Form 1040, 1040A, and 1040EZ individual income tax returns filed by citizens and resident aliens with the Internal Revenue Service. This compilation is produced by the Statistics of Income (SoI) Division within IRS.
The year indicated is the calendar year the return was filed (covering income earned during the previous year). The county designated reflects the county recorded by the taxpayer on his/her return as the county of residence.
You can do your own analysis HERE. There is a lot more insight that can be uncovered.
TRAC also has a host of interesting government agency tracking tools that I will be exploring HERE. Have fun data junkies!