Home » Connecticut » HARTFORD County » ZIP Code 06126 » Tax Stats

06126 Income Tax Overview

Total Number of Tax Returns for ZIP Code 06126 [1]	367
Total Number of Joint Tax Returns for ZIP Code 06126	42
Total Number of Dependents for ZIP Code 06126	150
Total Adjusted Gross Income for ZIP Code 06126	10,587,002
Average Income per Person for ZIP Code 06126	$10,587,002

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]	47
Number of joint returns	0
Number of returns with paid preparer's signature	26
Number of exemptions	68
Number of dependents	15
Adjust gross income (AGI) [2]	$204,849
Salaries and wages	$148,752
Taxable interest	$0
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]	$0
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$0
Mortgage interest paid	$0
Contributions	$0
Taxable income	$0
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$22,525
Excess earned income credit (refundable) [7]	$20,842
Alternative minimum tax	$0
Income tax [8]	$0
Total tax liability [9]	$0
Tax due at time of filing [10]	$0
Overpayments refunded [11]	($36,367)

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

Number of returns [1]	144
Number of joint returns	13
Number of returns with paid preparer's signature	85
Number of exemptions	239
Number of dependents	51
Adjust gross income (AGI) [2]	$2,552,705
Salaries and wages	$2,114,864
Taxable interest	$13,529
Ordinary dividends	$0
Business or professional net income (less loss)	$130,059
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$141,971
Unemployment compensation [3]	$175,115
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$0
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$36,546
Taxes paid	$0
Mortgage interest paid	$0
Contributions	$0
Taxable income	$851,194
Total tax credits [5]	$18,024
Residential energy tax credit	$0
Child tax credit	$9,525
Child and dependent care credit	$0
Earned income credit [6]	$135,199
Excess earned income credit (refundable) [7]	$120,223
Alternative minimum tax	$0
Income tax [8]	$75,705
Total tax liability [9]	$96,805
Tax due at time of filing [10]	$10,959
Overpayments refunded [11]	($313,386)

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

Number of returns [1]	137
Number of joint returns	29
Number of returns with paid preparer's signature	77
Number of exemptions	273
Number of dependents	66
Adjust gross income (AGI) [2]	$4,935,633
Salaries and wages	$4,551,364
Taxable interest	$4,274
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	$201,240
Unemployment compensation [3]	$233,910
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$380,806
State and local income taxes	$33,759
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$84,972
Mortgage interest paid	$114,814
Contributions	$17,431
Taxable income	$2,833,389
Total tax credits [5]	$85,826
Residential energy tax credit	$0
Child tax credit	$65,957
Child and dependent care credit	$0
Earned income credit [6]	$39,352
Excess earned income credit (refundable) [7]	$36,162
Alternative minimum tax	$0
Income tax [8]	$292,562
Total tax liability [9]	$301,152
Tax due at time of filing [10]	$16,858
Overpayments refunded [11]	($345,650)

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

Number of returns [1]	26
Number of joint returns	0
Number of returns with paid preparer's signature	23
Number of exemptions	54
Number of dependents	18
Adjust gross income (AGI) [2]	$1,572,010
Salaries and wages	$1,536,440
Taxable interest	$3,361
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]	$375,508
State and local income taxes	$33,170
State and local general sales tax	$0
Real estate taxes	$30,576
Taxes paid	$120,649
Mortgage interest paid	$88,571
Contributions	$14,573
Taxable income	$1,072,633
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	$0
Income tax [8]	$147,191
Total tax liability [9]	$148,854
Tax due at time of filing [10]	$0
Overpayments refunded [11]	($76,431)

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

Number of returns [1]	13
Number of joint returns	0
Number of returns with paid preparer's signature	0
Number of exemptions	26
Number of dependents	0
Adjust gross income (AGI) [2]	$1,321,805
Salaries and wages	$1,207,988
Taxable interest	$0
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]	$0
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$0
Mortgage interest paid	$0
Contributions	$0
Taxable income	$990,251
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	$0
Income tax [8]	$183,382
Total tax liability [9]	$182,473
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.