Home » New Hampshire » CHESHIRE County » ZIP Code 03608 » Tax Stats

03608 Income Tax Overview

Total Number of Tax Returns for ZIP Code 03608 [1]	1,485
Total Number of Joint Tax Returns for ZIP Code 03608	674
Total Number of Dependents for ZIP Code 03608	413
Total Adjusted Gross Income for ZIP Code 03608	111,660,362
Average Income per Person for ZIP Code 03608	$39,723

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]	290
Number of joint returns	28
Number of returns with paid preparer's signature	133
Number of exemptions	217
Number of dependents	18
Adjust gross income (AGI) [2]	$669,286
Salaries and wages	$1,187,148
Taxable interest	$141,311
Ordinary dividends	$99,939
Business or professional net income (less loss)	($37,527)
Net capital gain (less loss)	($36,947)
Taxable individual retirement arrangements distributions	$74,155
Taxable pensions and annuities	$122,766
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$645,057
State and local income taxes	$10,482
State and local general sales tax	$0
Real estate taxes	$173,354
Taxes paid	$213,982
Mortgage interest paid	$174,704
Contributions	$7,368
Taxable income	$96,244
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$48,714
Excess earned income credit (refundable) [7]	$38,996
Alternative minimum tax	$0
Income tax [8]	$9,794
Total tax liability [9]	$37,391
Tax due at time of filing [10]	$9,018
Overpayments refunded [11]	($148,370)

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

Number of returns [1]	229
Number of joint returns	41
Number of returns with paid preparer's signature	127
Number of exemptions	312
Number of dependents	35
Adjust gross income (AGI) [2]	$3,922,171
Salaries and wages	$2,600,860
Taxable interest	$206,981
Ordinary dividends	$192,521
Business or professional net income (less loss)	$316,385
Net capital gain (less loss)	$27,753
Taxable individual retirement arrangements distributions	$218,648
Taxable pensions and annuities	$387,773
Unemployment compensation [3]	$0
Taxable Social Security benefits	$24,360
Self-employment retirement plans	$0
Total itemized deductions [4]	$420,292
State and local income taxes	$6,584
State and local general sales tax	$0
Real estate taxes	$144,979
Taxes paid	$164,799
Mortgage interest paid	$104,985
Contributions	$29,960
Taxable income	$1,276,122
Total tax credits [5]	$14,749
Residential energy tax credit	$0
Child tax credit	$6,802
Child and dependent care credit	$0
Earned income credit [6]	$91,263
Excess earned income credit (refundable) [7]	$76,195
Alternative minimum tax	$0
Income tax [8]	$118,088
Total tax liability [9]	$179,926
Tax due at time of filing [10]	$22,603
Overpayments refunded [11]	($308,565)

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

Number of returns [1]	335
Number of joint returns	109
Number of returns with paid preparer's signature	191
Number of exemptions	586
Number of dependents	93
Adjust gross income (AGI) [2]	$12,451,379
Salaries and wages	$9,345,530
Taxable interest	$539,771
Ordinary dividends	$407,904
Business or professional net income (less loss)	$676,341
Net capital gain (less loss)	$200,927
Taxable individual retirement arrangements distributions	$454,625
Taxable pensions and annuities	$914,900
Unemployment compensation [3]	$91,551
Taxable Social Security benefits	$425,737
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,627,571
State and local income taxes	$48,664
State and local general sales tax	$0
Real estate taxes	$414,634
Taxes paid	$485,566
Mortgage interest paid	$423,293
Contributions	$116,192
Taxable income	$7,112,105
Total tax credits [5]	$126,429
Residential energy tax credit	$0
Child tax credit	$63,161
Child and dependent care credit	$0
Earned income credit [6]	$27,867
Excess earned income credit (refundable) [7]	$21,747
Alternative minimum tax	$0
Income tax [8]	$752,719
Total tax liability [9]	$923,752
Tax due at time of filing [10]	$51,116
Overpayments refunded [11]	($660,086)

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

Number of returns [1]	237
Number of joint returns	163
Number of returns with paid preparer's signature	139
Number of exemptions	590
Number of dependents	97
Adjust gross income (AGI) [2]	$14,581,508
Salaries and wages	$10,218,506
Taxable interest	$274,787
Ordinary dividends	$500,317
Business or professional net income (less loss)	$1,160,746
Net capital gain (less loss)	$200,519
Taxable individual retirement arrangements distributions	$364,056
Taxable pensions and annuities	$1,437,930
Unemployment compensation [3]	$48,372
Taxable Social Security benefits	$709,432
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,635,057
State and local income taxes	$74,388
State and local general sales tax	$0
Real estate taxes	$447,734
Taxes paid	$560,389
Mortgage interest paid	$631,097
Contributions	$131,952
Taxable income	$9,365,492
Total tax credits [5]	$177,629
Residential energy tax credit	$0
Child tax credit	$128,916
Child and dependent care credit	$14,400
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,081,755
Total tax liability [9]	$1,251,344
Tax due at time of filing [10]	$87,337
Overpayments refunded [11]	($512,560)

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

Number of returns [1]	136
Number of joint returns	114
Number of returns with paid preparer's signature	67
Number of exemptions	354
Number of dependents	58
Adjust gross income (AGI) [2]	$11,684,583
Salaries and wages	$8,369,031
Taxable interest	$245,073
Ordinary dividends	$403,158
Business or professional net income (less loss)	$924,302
Net capital gain (less loss)	$114,649
Taxable individual retirement arrangements distributions	$288,741
Taxable pensions and annuities	$868,600
Unemployment compensation [3]	$0
Taxable Social Security benefits	$566,807
Self-employment retirement plans	$115,566
Total itemized deductions [4]	$1,617,504
State and local income taxes	$109,283
State and local general sales tax	$0
Real estate taxes	$446,695
Taxes paid	$585,410
Mortgage interest paid	$657,223
Contributions	$86,552
Taxable income	$8,196,969
Total tax credits [5]	$113,465
Residential energy tax credit	$0
Child tax credit	$71,900
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]	$1,055,941
Total tax liability [9]	$1,265,119
Tax due at time of filing [10]	$103,513
Overpayments refunded [11]	($365,338)

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

Number of returns [1]	178
Number of joint returns	155
Number of returns with paid preparer's signature	106
Number of exemptions	464
Number of dependents	78
Adjust gross income (AGI) [2]	$23,985,399
Salaries and wages	$16,219,253
Taxable interest	$788,338
Ordinary dividends	$1,063,117
Business or professional net income (less loss)	$945,606
Net capital gain (less loss)	$869,998
Taxable individual retirement arrangements distributions	$1,196,805
Taxable pensions and annuities	$2,198,573
Unemployment compensation [3]	$0
Taxable Social Security benefits	$812,637
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,536,761
State and local income taxes	$382,324
State and local general sales tax	$0
Real estate taxes	$981,131
Taxes paid	$1,439,657
Mortgage interest paid	$1,054,958
Contributions	$492,173
Taxable income	$18,328,528
Total tax credits [5]	$101,635
Residential energy tax credit	$0
Child tax credit	$45,550
Child and dependent care credit	$5,714
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$23,990
Income tax [8]	$3,152,428
Total tax liability [9]	$3,308,081
Tax due at time of filing [10]	$176,958
Overpayments refunded [11]	($591,498)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	80
Number of joint returns	64
Number of returns with paid preparer's signature	69
Number of exemptions	203
Number of dependents	34
Adjust gross income (AGI) [2]	$44,366,036
Salaries and wages	$14,451,437
Taxable interest	$2,098,911
Ordinary dividends	$6,350,420
Business or professional net income (less loss)	$2,041,327
Net capital gain (less loss)	$4,268,239
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$725,287
Unemployment compensation [3]	$0
Taxable Social Security benefits	$521,138
Self-employment retirement plans	$268,862
Total itemized deductions [4]	$5,749,276
State and local income taxes	$1,403,477
State and local general sales tax	$0
Real estate taxes	$979,001
Taxes paid	$2,442,798
Mortgage interest paid	$708,591
Contributions	$1,981,877
Taxable income	$37,996,399
Total tax credits [5]	$171,184
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	$375,839
Income tax [8]	$10,136,133
Total tax liability [9]	$10,569,303
Tax due at time of filing [10]	$768,617
Overpayments refunded [11]	($863,832)

[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.