Home » Massachusetts » MIDDLESEX County » ZIP Code 01719 » Tax Stats

01719 Income Tax Overview

Total Number of Tax Returns for ZIP Code 01719 [1]	2,581
Total Number of Joint Tax Returns for ZIP Code 01719	1,191
Total Number of Dependents for ZIP Code 01719	977
Total Adjusted Gross Income for ZIP Code 01719	255,852,772
Average Income per Person for ZIP Code 01719	$51,212

The following tables break down the Income Tax Statistics into different Gross Income levels.

Adjusted Gross Income: Under $10,000 [1]

Number of returns [1]	520
Number of joint returns	22
Number of returns with paid preparer's signature	172
Number of exemptions	191
Number of dependents	14
Adjust gross income (AGI) [2]	$1,299,676
Salaries and wages	$1,812,702
Taxable interest	$220,733
Ordinary dividends	$226,167
Business or professional net income (less loss)	($102,660)
Net capital gain (less loss)	($57,397)
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$73,998
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$699,185
State and local income taxes	$42,565
State and local general sales tax	$4,612
Real estate taxes	$151,792
Taxes paid	$199,042
Mortgage interest paid	$240,986
Contributions	$0
Taxable income	$274,522
Total tax credits [5]	$2,199
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$15,809
Excess earned income credit (refundable) [7]	$11,953
Alternative minimum tax	$0
Income tax [8]	$25,690
Total tax liability [9]	$65,924
Tax due at time of filing [10]	$37,437
Overpayments refunded [11]	($164,739)

Adjusted Gross Income: $10,000 under $25,000

Number of returns [1]	246
Number of joint returns	34
Number of returns with paid preparer's signature	92
Number of exemptions	285
Number of dependents	38
Adjust gross income (AGI) [2]	$4,144,457
Salaries and wages	$3,003,078
Taxable interest	$208,914
Ordinary dividends	$191,496
Business or professional net income (less loss)	$347,135
Net capital gain (less loss)	$147,062
Taxable individual retirement arrangements distributions	$229,869
Taxable pensions and annuities	$224,404
Unemployment compensation [3]	$77,437
Taxable Social Security benefits	$15,403
Self-employment retirement plans	$0
Total itemized deductions [4]	$740,659
State and local income taxes	$45,261
State and local general sales tax	$0
Real estate taxes	$193,655
Taxes paid	$246,857
Mortgage interest paid	$216,874
Contributions	$47,180
Taxable income	$1,664,542
Total tax credits [5]	$21,333
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$76,744
Excess earned income credit (refundable) [7]	$62,264
Alternative minimum tax	$0
Income tax [8]	$159,046
Total tax liability [9]	$229,859
Tax due at time of filing [10]	$54,826
Overpayments refunded [11]	($312,038)

Adjusted Gross Income: $25,000 under $50,000

Number of returns [1]	409
Number of joint returns	79
Number of returns with paid preparer's signature	183
Number of exemptions	585
Number of dependents	69
Adjust gross income (AGI) [2]	$15,317,843
Salaries and wages	$12,048,053
Taxable interest	$544,900
Ordinary dividends	$355,189
Business or professional net income (less loss)	$623,427
Net capital gain (less loss)	$17,606
Taxable individual retirement arrangements distributions	$423,109
Taxable pensions and annuities	$654,105
Unemployment compensation [3]	$236,980
Taxable Social Security benefits	$439,766
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,606,079
State and local income taxes	$290,747
State and local general sales tax	$17,763
Real estate taxes	$553,195
Taxes paid	$887,325
Mortgage interest paid	$753,748
Contributions	$153,956
Taxable income	$9,257,292
Total tax credits [5]	$104,031
Residential energy tax credit	$0
Child tax credit	$39,787
Child and dependent care credit	$6,416
Earned income credit [6]	$24,489
Excess earned income credit (refundable) [7]	$15,944
Alternative minimum tax	$0
Income tax [8]	$1,135,813
Total tax liability [9]	$1,265,691
Tax due at time of filing [10]	$87,456
Overpayments refunded [11]	($761,516)

Adjusted Gross Income: $50,000 under $75,000

Number of returns [1]	315
Number of joint returns	123
Number of returns with paid preparer's signature	152
Number of exemptions	571
Number of dependents	87
Adjust gross income (AGI) [2]	$19,722,596
Salaries and wages	$14,173,289
Taxable interest	$663,048
Ordinary dividends	$538,045
Business or professional net income (less loss)	$722,414
Net capital gain (less loss)	$87,564
Taxable individual retirement arrangements distributions	$737,776
Taxable pensions and annuities	$1,866,635
Unemployment compensation [3]	$124,161
Taxable Social Security benefits	$1,048,444
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,885,461
State and local income taxes	$587,659
State and local general sales tax	$0
Real estate taxes	$913,011
Taxes paid	$1,535,716
Mortgage interest paid	$1,473,846
Contributions	$244,596
Taxable income	$13,108,293
Total tax credits [5]	$121,461
Residential energy tax credit	$0
Child tax credit	$72,698
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,861,877
Total tax liability [9]	$1,990,514
Tax due at time of filing [10]	$158,891
Overpayments refunded [11]	($618,840)

Adjusted Gross Income: $75,000 under $100,000

Number of returns [1]	223
Number of joint returns	134
Number of returns with paid preparer's signature	92
Number of exemptions	513
Number of dependents	92
Adjust gross income (AGI) [2]	$19,193,587
Salaries and wages	$14,742,544
Taxable interest	$463,326
Ordinary dividends	$487,686
Business or professional net income (less loss)	$785,954
Net capital gain (less loss)	$116,005
Taxable individual retirement arrangements distributions	$643,612
Taxable pensions and annuities	$1,120,522
Unemployment compensation [3]	$69,967
Taxable Social Security benefits	$700,170
Self-employment retirement plans	$83,758
Total itemized deductions [4]	$3,704,809
State and local income taxes	$746,369
State and local general sales tax	$0
Real estate taxes	$947,415
Taxes paid	$1,736,356
Mortgage interest paid	$1,360,955
Contributions	$228,288
Taxable income	$13,184,076
Total tax credits [5]	$147,542
Residential energy tax credit	$0
Child tax credit	$79,717
Child and dependent care credit	$6,729
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,918,855
Total tax liability [9]	$2,066,363
Tax due at time of filing [10]	$111,159
Overpayments refunded [11]	($679,235)

Adjusted Gross Income: $100,000 under $200,000

Number of returns [1]	513
Number of joint returns	459
Number of returns with paid preparer's signature	203
Number of exemptions	1,740
Number of dependents	394
Adjust gross income (AGI) [2]	$74,337,873
Salaries and wages	$64,476,398
Taxable interest	$1,099,193
Ordinary dividends	$1,609,620
Business or professional net income (less loss)	$3,568,371
Net capital gain (less loss)	$233,795
Taxable individual retirement arrangements distributions	$871,259
Taxable pensions and annuities	$1,609,906
Unemployment compensation [3]	$315,858
Taxable Social Security benefits	$608,923
Self-employment retirement plans	$374,565
Total itemized deductions [4]	$16,460,415
State and local income taxes	$3,857,087
State and local general sales tax	$0
Real estate taxes	$4,476,967
Taxes paid	$8,495,920
Mortgage interest paid	$6,091,833
Contributions	$1,034,102
Taxable income	$52,352,715
Total tax credits [5]	$295,857
Residential energy tax credit	$0
Child tax credit	$148,600
Child and dependent care credit	$28,928
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$146,606
Income tax [8]	$9,334,831
Total tax liability [9]	$9,844,368
Tax due at time of filing [10]	$570,102
Overpayments refunded [11]	($2,129,657)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	355
Number of joint returns	340
Number of returns with paid preparer's signature	168
Number of exemptions	1,307
Number of dependents	283
Adjust gross income (AGI) [2]	$121,836,740
Salaries and wages	$102,124,378
Taxable interest	$2,536,169
Ordinary dividends	$2,714,855
Business or professional net income (less loss)	$4,505,356
Net capital gain (less loss)	$3,753,030
Taxable individual retirement arrangements distributions	$214,872
Taxable pensions and annuities	$915,686
Unemployment compensation [3]	$111,464
Taxable Social Security benefits	$261,284
Self-employment retirement plans	$351,728
Total itemized deductions [4]	$17,638,378
State and local income taxes	$6,852,819
State and local general sales tax	$0
Real estate taxes	$3,452,682
Taxes paid	$10,442,581
Mortgage interest paid	$5,261,552
Contributions	$1,354,325
Taxable income	$100,187,077
Total tax credits [5]	$204,912
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$23,409
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$1,757,411
Income tax [8]	$26,733,817
Total tax liability [9]	$27,184,292
Tax due at time of filing [10]	$1,779,490
Overpayments refunded [11]	($1,458,327)

[1] Includes returns with adjusted gross deficit.

[2] Less deficit.

[3] Includes the Alaskan permanent fund, reported by residents of Alaska on Forms 1040A and 1040EZ's. This fund only applies to statistics in the U.S. totals, and the state of Alaska.

[4] "Itemized deductions" include any amounts reported by the taxpayer, even if they could not be used in computing "taxable income," the base on which the regular income tax was computed. Thus, total itemized deductions include amounts that did not have to be reported by taxpayers with no "adjusted gross income." (Adjusted gross income is the total from which these deductions would normally be subtracted.) In addition, if standard and itemized deductions were both reported on a tax return, the form of deduction actually used in computing income tax was the one used for the statistics. Therefore, if the standard deduction was the form of deduction used, the total reported for itemized deductions was excluded from the statistics. However, the component deductions were not similarly excluded. As a result, the number of returns and related amounts for the component deductions are slightly overstated in relation to the grand total shown for itemized deductions. These components are also overstated in relation to the total because there was a statutory limitation on the total of itemized deductions that could be claimed by certain high-income taxpayers. This limitation did not affect the component deductions, the sum of which therefore exceeded the total used in computing income tax.

[5] "Total tax credits" excludes the "earned income credit" which is shown separately.

[6] "Earned income credit" includes both the refundable and non-refundable portions. The non-refundable portion could reduce income tax and certain related taxes to zero. The earned income credit amounts in excess of total tax liability, or amounts when there was no tax liability at all, were refundable. See footnote 7 below for explanation of the refundable portion of the earned income credit.

[7] The refundable portion of the "earned income credit" equals "total income tax" minus the "earned income credit". If the result is negative, this amount is considered the refundable portion.

[8] "Income tax" is in general, the same as "income tax after credits" which was redefined in Tax Year 2000 to include the "alternative minimum tax (AMT)". Zip Code table "Income tax" differs from "total income tax" (in other tables) in that the Zip Code table "Income tax" is after the subtraction of all tax credits except the earned income credit. See footnote 6 and 7 above, for an explanation of the treatment of the earned income credit. "Income tax" reflects the amount reported on the tax return and is, therefore, before any examination or enforcement activities by the Internal Revenue Service. It represents the tax filer reported income tax liability that was payable to the U.S. Department of the Treasury.

[9] For the Zip Code tables, "Total tax liability" differs from "Income tax," in that "Total tax liability" includes the taxes from recapture of certain prior-year credits, tax applicable to individual retirement arrangements (IRA's), Social Security taxes on self-employment income and on certain tip income, advanced earned income payments, household employment taxes, and certain "other taxes" listed in the Form 1040 instructions.

[10] Reflects payments to or withholdings made to "Total tax liability" (footnote 9). The amount the tax filer owes when the income tax return is filed.

[11] The amount of overpayments the tax filer requested to have refunded.