Home » Massachusetts » ESSEX County » ZIP Code 01923 » Tax Stats

01923 Income Tax Overview

Total Number of Tax Returns for ZIP Code 01923 [1]	13,881
Total Number of Joint Tax Returns for ZIP Code 01923	5,480
Total Number of Dependents for ZIP Code 01923	3,999
Total Adjusted Gross Income for ZIP Code 01923	929,048,072
Average Income per Person for ZIP Code 01923	$35,269

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]	2,408
Number of joint returns	169
Number of returns with paid preparer's signature	1,210
Number of exemptions	1,531
Number of dependents	148
Adjust gross income (AGI) [2]	$9,255,184
Salaries and wages	$10,606,726
Taxable interest	$859,289
Ordinary dividends	$593,115
Business or professional net income (less loss)	$424,703
Net capital gain (less loss)	$177,158
Taxable individual retirement arrangements distributions	$621,107
Taxable pensions and annuities	$1,083,379
Unemployment compensation [3]	$149,310
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,968,921
State and local income taxes	$209,906
State and local general sales tax	$19,791
Real estate taxes	$655,678
Taxes paid	$928,979
Mortgage interest paid	$1,544,611
Contributions	$61,858
Taxable income	$1,022,817
Total tax credits [5]	$2,809
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$313,467
Excess earned income credit (refundable) [7]	$260,813
Alternative minimum tax	$0
Income tax [8]	$94,941
Total tax liability [9]	$279,376
Tax due at time of filing [10]	$96,314
Overpayments refunded [11]	($1,237,421)

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

Number of returns [1]	2,184
Number of joint returns	306
Number of returns with paid preparer's signature	1,163
Number of exemptions	2,685
Number of dependents	314
Adjust gross income (AGI) [2]	$37,500,184
Salaries and wages	$23,946,248
Taxable interest	$1,802,718
Ordinary dividends	$1,060,222
Business or professional net income (less loss)	$2,789,671
Net capital gain (less loss)	$135
Taxable individual retirement arrangements distributions	$1,823,627
Taxable pensions and annuities	$5,756,619
Unemployment compensation [3]	$941,131
Taxable Social Security benefits	$291,730
Self-employment retirement plans	$0
Total itemized deductions [4]	$6,272,129
State and local income taxes	$338,849
State and local general sales tax	$34,877
Real estate taxes	$1,187,853
Taxes paid	$1,622,699
Mortgage interest paid	$1,974,383
Contributions	$271,470
Taxable income	$12,884,469
Total tax credits [5]	$144,670
Residential energy tax credit	$0
Child tax credit	$33,058
Child and dependent care credit	$6,811
Earned income credit [6]	$797,283
Excess earned income credit (refundable) [7]	$686,228
Alternative minimum tax	$0
Income tax [8]	$1,239,094
Total tax liability [9]	$1,692,689
Tax due at time of filing [10]	$235,335
Overpayments refunded [11]	($2,663,201)

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

Number of returns [1]	2,882
Number of joint returns	605
Number of returns with paid preparer's signature	1,580
Number of exemptions	4,372
Number of dependents	586
Adjust gross income (AGI) [2]	$107,418,677
Salaries and wages	$80,262,486
Taxable interest	$2,671,975
Ordinary dividends	$1,965,842
Business or professional net income (less loss)	$5,123,983
Net capital gain (less loss)	$113,999
Taxable individual retirement arrangements distributions	$3,029,262
Taxable pensions and annuities	$10,412,669
Unemployment compensation [3]	$1,645,934
Taxable Social Security benefits	$3,333,590
Self-employment retirement plans	$132,055
Total itemized deductions [4]	$15,143,468
State and local income taxes	$1,555,646
State and local general sales tax	$29,390
Real estate taxes	$2,795,961
Taxes paid	$4,520,691
Mortgage interest paid	$6,369,596
Contributions	$782,625
Taxable income	$63,958,065
Total tax credits [5]	$653,782
Residential energy tax credit	$0
Child tax credit	$355,883
Child and dependent care credit	$42,153
Earned income credit [6]	$226,506
Excess earned income credit (refundable) [7]	$156,879
Alternative minimum tax	$0
Income tax [8]	$7,648,191
Total tax liability [9]	$8,579,152
Tax due at time of filing [10]	$579,185
Overpayments refunded [11]	($4,780,572)

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

Number of returns [1]	2,093
Number of joint returns	911
Number of returns with paid preparer's signature	1,304
Number of exemptions	4,079
Number of dependents	631
Adjust gross income (AGI) [2]	$129,490,999
Salaries and wages	$94,576,569
Taxable interest	$3,309,475
Ordinary dividends	$2,238,329
Business or professional net income (less loss)	$4,902,258
Net capital gain (less loss)	$163,086
Taxable individual retirement arrangements distributions	$3,616,732
Taxable pensions and annuities	$13,237,490
Unemployment compensation [3]	$1,059,032
Taxable Social Security benefits	$6,682,280
Self-employment retirement plans	$104,029
Total itemized deductions [4]	$23,097,343
State and local income taxes	$3,452,755
State and local general sales tax	$36,811
Real estate taxes	$3,944,012
Taxes paid	$7,670,665
Mortgage interest paid	$10,395,817
Contributions	$1,384,890
Taxable income	$84,461,001
Total tax credits [5]	$902,312
Residential energy tax credit	$0
Child tax credit	$661,600
Child and dependent care credit	$40,722
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$11,703,249
Total tax liability [9]	$12,591,956
Tax due at time of filing [10]	$679,802
Overpayments refunded [11]	($4,907,224)

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

Number of returns [1]	1,536
Number of joint returns	1,051
Number of returns with paid preparer's signature	959
Number of exemptions	3,817
Number of dependents	676
Adjust gross income (AGI) [2]	$133,403,107
Salaries and wages	$104,352,790
Taxable interest	$2,354,475
Ordinary dividends	$1,998,806
Business or professional net income (less loss)	$4,805,361
Net capital gain (less loss)	$323,681
Taxable individual retirement arrangements distributions	$3,722,635
Taxable pensions and annuities	$8,946,750
Unemployment compensation [3]	$1,172,925
Taxable Social Security benefits	$4,621,138
Self-employment retirement plans	$205,205
Total itemized deductions [4]	$24,876,428
State and local income taxes	$4,621,959
State and local general sales tax	$32,854
Real estate taxes	$4,354,628
Taxes paid	$9,291,802
Mortgage interest paid	$11,618,841
Contributions	$1,421,252
Taxable income	$90,951,151
Total tax credits [5]	$1,182,996
Residential energy tax credit	$0
Child tax credit	$863,645
Child and dependent care credit	$58,141
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$12,873,774
Total tax liability [9]	$13,741,579
Tax due at time of filing [10]	$859,996
Overpayments refunded [11]	($4,483,068)

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

Number of returns [1]	2,240
Number of joint returns	1,965
Number of returns with paid preparer's signature	1,444
Number of exemptions	6,661
Number of dependents	1,302
Adjust gross income (AGI) [2]	$300,290,201
Salaries and wages	$246,672,737
Taxable interest	$4,654,332
Ordinary dividends	$3,560,016
Business or professional net income (less loss)	$9,866,665
Net capital gain (less loss)	$2,080,044
Taxable individual retirement arrangements distributions	$6,042,428
Taxable pensions and annuities	$14,984,702
Unemployment compensation [3]	$1,158,384
Taxable Social Security benefits	$5,661,003
Self-employment retirement plans	$899,432
Total itemized deductions [4]	$56,328,015
State and local income taxes	$13,817,405
State and local general sales tax	$0
Real estate taxes	$9,257,369
Taxes paid	$23,810,318
Mortgage interest paid	$24,844,744
Contributions	$3,818,907
Taxable income	$218,646,207
Total tax credits [5]	$1,073,531
Residential energy tax credit	$0
Child tax credit	$810,850
Child and dependent care credit	$115,488
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$162,362
Income tax [8]	$38,144,871
Total tax liability [9]	$39,981,121
Tax due at time of filing [10]	$2,454,056
Overpayments refunded [11]	($7,028,120)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	538
Number of joint returns	473
Number of returns with paid preparer's signature	413
Number of exemptions	1,699
Number of dependents	342
Adjust gross income (AGI) [2]	$211,689,720
Salaries and wages	$124,834,753
Taxable interest	$3,812,462
Ordinary dividends	$4,662,816
Business or professional net income (less loss)	$8,449,793
Net capital gain (less loss)	$16,737,943
Taxable individual retirement arrangements distributions	$2,808,659
Taxable pensions and annuities	$3,231,633
Unemployment compensation [3]	$179,015
Taxable Social Security benefits	$1,454,754
Self-employment retirement plans	$871,866
Total itemized deductions [4]	$25,940,886
State and local income taxes	$10,654,978
State and local general sales tax	$0
Real estate taxes	$3,456,560
Taxes paid	$14,394,213
Mortgage interest paid	$8,125,600
Contributions	$2,886,329
Taxable income	$180,558,322
Total tax credits [5]	$142,703
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$22,794
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$1,945,431
Income tax [8]	$45,770,365
Total tax liability [9]	$46,815,994
Tax due at time of filing [10]	$7,050,647
Overpayments refunded [11]	($2,582,171)

[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.