Home » Massachusetts » NORFOLK County » ZIP Code 02446 » Tax Stats

02446 Income Tax Overview

Total Number of Tax Returns for ZIP Code 02446 [1]	14,601
Total Number of Joint Tax Returns for ZIP Code 02446	4,035
Total Number of Dependents for ZIP Code 02446	2,666
Total Adjusted Gross Income for ZIP Code 02446	1,522,066,401
Average Income per Person for ZIP Code 02446	$51,928

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]	2,108
Number of joint returns	105
Number of returns with paid preparer's signature	909
Number of exemptions	1,661
Number of dependents	94
Adjust gross income (AGI) [2]	$5,224,387
Salaries and wages	$8,765,671
Taxable interest	$1,887,171
Ordinary dividends	$1,552,909
Business or professional net income (less loss)	$248,347
Net capital gain (less loss)	$24,062
Taxable individual retirement arrangements distributions	$341,386
Taxable pensions and annuities	$350,009
Unemployment compensation [3]	$68,140
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$6,077,626
State and local income taxes	$791,511
State and local general sales tax	$36,825
Real estate taxes	$726,324
Taxes paid	$1,619,293
Mortgage interest paid	$1,351,179
Contributions	$41,210
Taxable income	$775,878
Total tax credits [5]	$3,953
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$169,802
Excess earned income credit (refundable) [7]	$134,876
Alternative minimum tax	$0
Income tax [8]	$70,308
Total tax liability [9]	$289,067
Tax due at time of filing [10]	$105,569
Overpayments refunded [11]	($1,771,598)

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

Number of returns [1]	1,906
Number of joint returns	139
Number of returns with paid preparer's signature	823
Number of exemptions	2,062
Number of dependents	152
Adjust gross income (AGI) [2]	$33,200,587
Salaries and wages	$25,394,275
Taxable interest	$1,926,749
Ordinary dividends	$1,611,165
Business or professional net income (less loss)	$2,089,804
Net capital gain (less loss)	$86,809
Taxable individual retirement arrangements distributions	$757,735
Taxable pensions and annuities	$1,941,641
Unemployment compensation [3]	$404,930
Taxable Social Security benefits	$174,770
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,423,911
State and local income taxes	$465,749
State and local general sales tax	$29,958
Real estate taxes	$592,009
Taxes paid	$1,110,636
Mortgage interest paid	$873,481
Contributions	$201,785
Taxable income	$14,233,708
Total tax credits [5]	$280,498
Residential energy tax credit	$0
Child tax credit	$11,171
Child and dependent care credit	$0
Earned income credit [6]	$299,915
Excess earned income credit (refundable) [7]	$250,641
Alternative minimum tax	$0
Income tax [8]	$1,267,462
Total tax liability [9]	$1,610,977
Tax due at time of filing [10]	$241,885
Overpayments refunded [11]	($2,225,880)

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

Number of returns [1]	3,309
Number of joint returns	310
Number of returns with paid preparer's signature	1,258
Number of exemptions	4,056
Number of dependents	302
Adjust gross income (AGI) [2]	$122,746,808
Salaries and wages	$103,793,107
Taxable interest	$3,557,110
Ordinary dividends	$3,323,497
Business or professional net income (less loss)	$5,246,370
Net capital gain (less loss)	$107,598
Taxable individual retirement arrangements distributions	$1,465,612
Taxable pensions and annuities	$4,025,107
Unemployment compensation [3]	$956,600
Taxable Social Security benefits	$2,076,016
Self-employment retirement plans	$278,636
Total itemized deductions [4]	$11,171,771
State and local income taxes	$1,524,640
State and local general sales tax	$66,105
Real estate taxes	$1,391,319
Taxes paid	$3,048,095
Mortgage interest paid	$2,750,239
Contributions	$728,861
Taxable income	$82,909,197
Total tax credits [5]	$800,678
Residential energy tax credit	$0
Child tax credit	$181,096
Child and dependent care credit	$26,554
Earned income credit [6]	$84,045
Excess earned income credit (refundable) [7]	$63,146
Alternative minimum tax	$0
Income tax [8]	$10,319,331
Total tax liability [9]	$11,218,307
Tax due at time of filing [10]	$786,854
Overpayments refunded [11]	($4,704,980)

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

Number of returns [1]	2,147
Number of joint returns	378
Number of returns with paid preparer's signature	970
Number of exemptions	2,960
Number of dependents	292
Adjust gross income (AGI) [2]	$131,601,614
Salaries and wages	$104,780,693
Taxable interest	$4,395,076
Ordinary dividends	$4,020,322
Business or professional net income (less loss)	$5,223,622
Net capital gain (less loss)	$798,350
Taxable individual retirement arrangements distributions	$2,217,833
Taxable pensions and annuities	$6,252,168
Unemployment compensation [3]	$480,047
Taxable Social Security benefits	$3,635,696
Self-employment retirement plans	$479,208
Total itemized deductions [4]	$14,665,985
State and local income taxes	$2,768,009
State and local general sales tax	$54,778
Real estate taxes	$2,034,502
Taxes paid	$4,931,500
Mortgage interest paid	$4,714,393
Contributions	$1,073,367
Taxable income	$98,186,854
Total tax credits [5]	$511,615
Residential energy tax credit	$0
Child tax credit	$263,661
Child and dependent care credit	$30,858
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$15,529,440
Total tax liability [9]	$16,452,431
Tax due at time of filing [10]	$978,328
Overpayments refunded [11]	($4,024,005)

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

Number of returns [1]	1,236
Number of joint returns	429
Number of returns with paid preparer's signature	652
Number of exemptions	2,063
Number of dependents	252
Adjust gross income (AGI) [2]	$106,764,699
Salaries and wages	$82,208,599
Taxable interest	$3,571,492
Ordinary dividends	$4,002,694
Business or professional net income (less loss)	$4,420,969
Net capital gain (less loss)	$702,388
Taxable individual retirement arrangements distributions	$2,201,721
Taxable pensions and annuities	$4,988,045
Unemployment compensation [3]	$432,970
Taxable Social Security benefits	$3,540,743
Self-employment retirement plans	$333,723
Total itemized deductions [4]	$15,243,325
State and local income taxes	$3,381,451
State and local general sales tax	$18,247
Real estate taxes	$2,076,149
Taxes paid	$5,590,403
Mortgage interest paid	$4,775,639
Contributions	$1,460,839
Taxable income	$80,272,527
Total tax credits [5]	$506,619
Residential energy tax credit	$0
Child tax credit	$230,549
Child and dependent care credit	$38,429
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$45,770
Income tax [8]	$13,496,699
Total tax liability [9]	$14,327,148
Tax due at time of filing [10]	$937,924
Overpayments refunded [11]	($3,192,694)

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

Number of returns [1]	2,272
Number of joint returns	1,378
Number of returns with paid preparer's signature	1,261
Number of exemptions	4,888
Number of dependents	778
Adjust gross income (AGI) [2]	$318,733,098
Salaries and wages	$246,811,628
Taxable interest	$9,149,169
Ordinary dividends	$10,451,373
Business or professional net income (less loss)	$19,420,392
Net capital gain (less loss)	$3,525,158
Taxable individual retirement arrangements distributions	$6,100,949
Taxable pensions and annuities	$12,807,971
Unemployment compensation [3]	$682,371
Taxable Social Security benefits	$6,606,024
Self-employment retirement plans	$2,538,194
Total itemized deductions [4]	$51,508,002
State and local income taxes	$14,863,032
State and local general sales tax	$60,862
Real estate taxes	$7,206,002
Taxes paid	$22,498,356
Mortgage interest paid	$18,214,267
Contributions	$4,662,718
Taxable income	$246,065,234
Total tax credits [5]	$776,531
Residential energy tax credit	$0
Child tax credit	$247,600
Child and dependent care credit	$108,153
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$552,172
Income tax [8]	$47,863,627
Total tax liability [9]	$50,511,835
Tax due at time of filing [10]	$3,418,289
Overpayments refunded [11]	($7,931,275)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	1,623
Number of joint returns	1,296
Number of returns with paid preparer's signature	1,183
Number of exemptions	4,376
Number of dependents	796
Adjust gross income (AGI) [2]	$803,795,208
Salaries and wages	$467,136,301
Taxable interest	$29,068,565
Ordinary dividends	$45,702,831
Business or professional net income (less loss)	$44,205,885
Net capital gain (less loss)	$99,827,517
Taxable individual retirement arrangements distributions	$7,362,535
Taxable pensions and annuities	$12,342,288
Unemployment compensation [3]	$332,886
Taxable Social Security benefits	$4,984,568
Self-employment retirement plans	$6,344,076
Total itemized deductions [4]	$116,176,035
State and local income taxes	$51,457,592
State and local general sales tax	$0
Real estate taxes	$12,628,573
Taxes paid	$64,748,744
Mortgage interest paid	$24,895,677
Contributions	$17,985,205
Taxable income	$675,695,543
Total tax credits [5]	$4,301,266
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$106,035
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$8,864,628
Income tax [8]	$179,542,865
Total tax liability [9]	$186,575,707
Tax due at time of filing [10]	$16,774,589
Overpayments refunded [11]	($10,834,496)

[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.