Home » Rhode Island » KENT County » ZIP Code 02827 » Tax Stats

02827 Income Tax Overview

Total Number of Tax Returns for ZIP Code 02827 [1]	1,113
Total Number of Joint Tax Returns for ZIP Code 02827	525
Total Number of Dependents for ZIP Code 02827	389
Total Adjusted Gross Income for ZIP Code 02827	65,081,250
Average Income per Person for ZIP Code 02827	$29,964

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]	189
Number of joint returns	12
Number of returns with paid preparer's signature	93
Number of exemptions	145
Number of dependents	20
Adjust gross income (AGI) [2]	$762,781
Salaries and wages	$842,271
Taxable interest	$68,850
Ordinary dividends	$35,846
Business or professional net income (less loss)	$83,162
Net capital gain (less loss)	($6,557)
Taxable individual retirement arrangements distributions	$62,737
Taxable pensions and annuities	$31,603
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$354,958
State and local income taxes	$0
State and local general sales tax	$6,140
Real estate taxes	$90,471
Taxes paid	$131,425
Mortgage interest paid	$0
Contributions	$0
Taxable income	$78,094
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$39,198
Excess earned income credit (refundable) [7]	$33,601
Alternative minimum tax	$0
Income tax [8]	$7,399
Total tax liability [9]	$22,775
Tax due at time of filing [10]	$8,765
Overpayments refunded [11]	($150,259)

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

Number of returns [1]	164
Number of joint returns	21
Number of returns with paid preparer's signature	88
Number of exemptions	195
Number of dependents	25
Adjust gross income (AGI) [2]	$2,730,281
Salaries and wages	$2,101,982
Taxable interest	$50,149
Ordinary dividends	$33,913
Business or professional net income (less loss)	$144,119
Net capital gain (less loss)	($17,802)
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$216,955
Unemployment compensation [3]	$111,784
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$355,989
State and local income taxes	$13,810
State and local general sales tax	$0
Real estate taxes	$76,878
Taxes paid	$97,076
Mortgage interest paid	$218,338
Contributions	$9,417
Taxable income	$1,001,877
Total tax credits [5]	$11,236
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$72,590
Excess earned income credit (refundable) [7]	$66,644
Alternative minimum tax	$0
Income tax [8]	$98,348
Total tax liability [9]	$125,564
Tax due at time of filing [10]	$16,521
Overpayments refunded [11]	($218,032)

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

Number of returns [1]	233
Number of joint returns	68
Number of returns with paid preparer's signature	137
Number of exemptions	418
Number of dependents	73
Adjust gross income (AGI) [2]	$8,572,165
Salaries and wages	$6,946,669
Taxable interest	$134,407
Ordinary dividends	$60,029
Business or professional net income (less loss)	$316,818
Net capital gain (less loss)	($19,457)
Taxable individual retirement arrangements distributions	$197,909
Taxable pensions and annuities	$633,495
Unemployment compensation [3]	$182,942
Taxable Social Security benefits	$262,671
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,685,905
State and local income taxes	$130,427
State and local general sales tax	$9,313
Real estate taxes	$380,854
Taxes paid	$570,790
Mortgage interest paid	$769,549
Contributions	$51,739
Taxable income	$4,480,088
Total tax credits [5]	$69,280
Residential energy tax credit	$0
Child tax credit	$43,083
Child and dependent care credit	$7,412
Earned income credit [6]	$36,556
Excess earned income credit (refundable) [7]	$27,625
Alternative minimum tax	$0
Income tax [8]	$500,464
Total tax liability [9]	$550,789
Tax due at time of filing [10]	$21,650
Overpayments refunded [11]	($460,318)

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

Number of returns [1]	165
Number of joint returns	104
Number of returns with paid preparer's signature	116
Number of exemptions	397
Number of dependents	70
Adjust gross income (AGI) [2]	$10,190,690
Salaries and wages	$8,271,233
Taxable interest	$195,107
Ordinary dividends	$102,985
Business or professional net income (less loss)	$381,398
Net capital gain (less loss)	$16,764
Taxable individual retirement arrangements distributions	$130,686
Taxable pensions and annuities	$631,115
Unemployment compensation [3]	$124,325
Taxable Social Security benefits	$297,791
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,218,842
State and local income taxes	$287,211
State and local general sales tax	$0
Real estate taxes	$493,593
Taxes paid	$851,322
Mortgage interest paid	$1,055,886
Contributions	$120,805
Taxable income	$6,067,648
Total tax credits [5]	$95,700
Residential energy tax credit	$0
Child tax credit	$64,672
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]	$736,951
Total tax liability [9]	$815,314
Tax due at time of filing [10]	$80,902
Overpayments refunded [11]	($437,423)

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

Number of returns [1]	156
Number of joint returns	124
Number of returns with paid preparer's signature	101
Number of exemptions	430
Number of dependents	83
Adjust gross income (AGI) [2]	$13,616,984
Salaries and wages	$11,267,483
Taxable interest	$202,869
Ordinary dividends	$72,614
Business or professional net income (less loss)	$454,452
Net capital gain (less loss)	($14,940)
Taxable individual retirement arrangements distributions	$266,479
Taxable pensions and annuities	$787,405
Unemployment compensation [3]	$169,792
Taxable Social Security benefits	$335,556
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,019,797
State and local income taxes	$478,369
State and local general sales tax	$0
Real estate taxes	$687,565
Taxes paid	$1,264,020
Mortgage interest paid	$1,287,427
Contributions	$212,369
Taxable income	$8,846,499
Total tax credits [5]	$148,774
Residential energy tax credit	$0
Child tax credit	$111,411
Child and dependent care credit	$7,116
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,133,388
Total tax liability [9]	$1,215,520
Tax due at time of filing [10]	$26,420
Overpayments refunded [11]	($532,432)

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

Number of returns [1]	192
Number of joint returns	182
Number of returns with paid preparer's signature	124
Number of exemptions	573
Number of dependents	118
Adjust gross income (AGI) [2]	$24,682,773
Salaries and wages	$21,544,925
Taxable interest	$182,587
Ordinary dividends	$141,928
Business or professional net income (less loss)	$123,042
Net capital gain (less loss)	$132,106
Taxable individual retirement arrangements distributions	$221,332
Taxable pensions and annuities	$1,583,467
Unemployment compensation [3]	$172,227
Taxable Social Security benefits	$274,514
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,838,155
State and local income taxes	$1,122,238
State and local general sales tax	$0
Real estate taxes	$1,016,135
Taxes paid	$2,291,447
Mortgage interest paid	$2,098,704
Contributions	$322,146
Taxable income	$17,739,488
Total tax credits [5]	$105,245
Residential energy tax credit	$0
Child tax credit	$74,400
Child and dependent care credit	$11,780
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$2,964,903
Total tax liability [9]	$3,016,198
Tax due at time of filing [10]	$131,316
Overpayments refunded [11]	($738,555)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	14
Number of joint returns	14
Number of returns with paid preparer's signature	13
Number of exemptions	43
Number of dependents	0
Adjust gross income (AGI) [2]	$4,525,576
Salaries and wages	$2,417,969
Taxable interest	$110,975
Ordinary dividends	$0
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$0
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$758,354
State and local income taxes	$234,740
State and local general sales tax	$0
Real estate taxes	$116,983
Taxes paid	$501,643
Mortgage interest paid	$0
Contributions	$31,162
Taxable income	$3,631,214
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$88,231
Income tax [8]	$929,983
Total tax liability [9]	$940,998
Tax due at time of filing [10]	$0
Overpayments refunded [11]	$0

[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.