Home » Connecticut » FAIRFIELD County » ZIP Code 06903 » Tax Stats

06903 Income Tax Overview

Total Number of Tax Returns for ZIP Code 06903 [1]	7,024
Total Number of Joint Tax Returns for ZIP Code 06903	3,741
Total Number of Dependents for ZIP Code 06903	2,348
Total Adjusted Gross Income for ZIP Code 06903	1,690,676,473
Average Income per Person for ZIP Code 06903	$116,606

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]	1,295
Number of joint returns	79
Number of returns with paid preparer's signature	849
Number of exemptions	576
Number of dependents	53
Adjust gross income (AGI) [2]	$2,251,095
Salaries and wages	$6,406,058
Taxable interest	$1,339,040
Ordinary dividends	$1,568,854
Business or professional net income (less loss)	($112,311)
Net capital gain (less loss)	($262,162)
Taxable individual retirement arrangements distributions	$123,636
Taxable pensions and annuities	$271,499
Unemployment compensation [3]	$42,453
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$5,484,195
State and local income taxes	$965,066
State and local general sales tax	$10,359
Real estate taxes	$1,017,037
Taxes paid	$2,043,090
Mortgage interest paid	$1,914,934
Contributions	$34,669
Taxable income	$814,824
Total tax credits [5]	$7,091
Residential energy tax credit	$0
Child tax credit	$3,526
Child and dependent care credit	$0
Earned income credit [6]	$52,096
Excess earned income credit (refundable) [7]	$35,066
Alternative minimum tax	$0
Income tax [8]	$78,778
Total tax liability [9]	$290,997
Tax due at time of filing [10]	$102,438
Overpayments refunded [11]	($1,680,748)

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

Number of returns [1]	572
Number of joint returns	83
Number of returns with paid preparer's signature	367
Number of exemptions	629
Number of dependents	57
Adjust gross income (AGI) [2]	$9,507,400
Salaries and wages	$5,586,237
Taxable interest	$699,565
Ordinary dividends	$735,230
Business or professional net income (less loss)	$1,142,345
Net capital gain (less loss)	$191,845
Taxable individual retirement arrangements distributions	$352,632
Taxable pensions and annuities	$806,755
Unemployment compensation [3]	$143,388
Taxable Social Security benefits	$170,580
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,716,988
State and local income taxes	$124,170
State and local general sales tax	$43,512
Real estate taxes	$955,502
Taxes paid	$1,233,226
Mortgage interest paid	$1,107,108
Contributions	$162,877
Taxable income	$3,364,704
Total tax credits [5]	$61,956
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$126,902
Excess earned income credit (refundable) [7]	$91,017
Alternative minimum tax	$0
Income tax [8]	$299,096
Total tax liability [9]	$512,548
Tax due at time of filing [10]	$148,500
Overpayments refunded [11]	($617,426)

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

Number of returns [1]	610
Number of joint returns	131
Number of returns with paid preparer's signature	373
Number of exemptions	912
Number of dependents	117
Adjust gross income (AGI) [2]	$22,645,765
Salaries and wages	$14,236,084
Taxable interest	$1,018,647
Ordinary dividends	$1,279,752
Business or professional net income (less loss)	$1,924,327
Net capital gain (less loss)	$293,863
Taxable individual retirement arrangements distributions	$948,855
Taxable pensions and annuities	$1,497,782
Unemployment compensation [3]	$276,744
Taxable Social Security benefits	$1,180,554
Self-employment retirement plans	$0
Total itemized deductions [4]	$6,845,662
State and local income taxes	$364,934
State and local general sales tax	$59,963
Real estate taxes	$1,810,450
Taxes paid	$2,310,820
Mortgage interest paid	$2,357,313
Contributions	$331,555
Taxable income	$12,161,833
Total tax credits [5]	$136,938
Residential energy tax credit	$0
Child tax credit	$47,792
Child and dependent care credit	$0
Earned income credit [6]	$24,678
Excess earned income credit (refundable) [7]	$16,653
Alternative minimum tax	$0
Income tax [8]	$1,414,335
Total tax liability [9]	$1,762,511
Tax due at time of filing [10]	$312,854
Overpayments refunded [11]	($989,958)

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

Number of returns [1]	570
Number of joint returns	229
Number of returns with paid preparer's signature	369
Number of exemptions	1,035
Number of dependents	130
Adjust gross income (AGI) [2]	$35,107,820
Salaries and wages	$20,013,584
Taxable interest	$2,117,555
Ordinary dividends	$2,693,556
Business or professional net income (less loss)	$2,942,704
Net capital gain (less loss)	$240,652
Taxable individual retirement arrangements distributions	$1,232,003
Taxable pensions and annuities	$3,186,532
Unemployment compensation [3]	$169,001
Taxable Social Security benefits	$2,895,318
Self-employment retirement plans	$204,633
Total itemized deductions [4]	$12,260,851
State and local income taxes	$1,359,085
State and local general sales tax	$42,016
Real estate taxes	$2,794,025
Taxes paid	$4,334,180
Mortgage interest paid	$4,249,201
Contributions	$950,490
Taxable income	$19,072,224
Total tax credits [5]	$129,140
Residential energy tax credit	$0
Child tax credit	$83,227
Child and dependent care credit	$5,298
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$2,677,640
Total tax liability [9]	$3,270,944
Tax due at time of filing [10]	$413,326
Overpayments refunded [11]	($1,747,821)

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

Number of returns [1]	491
Number of joint returns	289
Number of returns with paid preparer's signature	340
Number of exemptions	1,035
Number of dependents	143
Adjust gross income (AGI) [2]	$42,447,492
Salaries and wages	$23,462,374
Taxable interest	$1,953,406
Ordinary dividends	$2,746,762
Business or professional net income (less loss)	$3,438,193
Net capital gain (less loss)	$84,940
Taxable individual retirement arrangements distributions	$2,884,867
Taxable pensions and annuities	$3,599,872
Unemployment compensation [3]	$168,354
Taxable Social Security benefits	$3,625,674
Self-employment retirement plans	$471,261
Total itemized deductions [4]	$13,068,224
State and local income taxes	$1,786,043
State and local general sales tax	$21,520
Real estate taxes	$3,202,008
Taxes paid	$5,188,223
Mortgage interest paid	$4,436,848
Contributions	$869,088
Taxable income	$25,535,425
Total tax credits [5]	$228,613
Residential energy tax credit	$0
Child tax credit	$126,500
Child and dependent care credit	$12,563
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$31,175
Income tax [8]	$3,692,931
Total tax liability [9]	$4,336,070
Tax due at time of filing [10]	$398,699
Overpayments refunded [11]	($1,520,479)

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

Number of returns [1]	1,397
Number of joint returns	1,094
Number of returns with paid preparer's signature	999
Number of exemptions	3,678
Number of dependents	625
Adjust gross income (AGI) [2]	$205,057,784
Salaries and wages	$126,852,169
Taxable interest	$7,598,197
Ordinary dividends	$10,072,891
Business or professional net income (less loss)	$18,981,370
Net capital gain (less loss)	$2,838,739
Taxable individual retirement arrangements distributions	$9,695,683
Taxable pensions and annuities	$13,975,598
Unemployment compensation [3]	$498,078
Taxable Social Security benefits	$8,427,545
Self-employment retirement plans	$1,676,529
Total itemized deductions [4]	$57,355,537
State and local income taxes	$11,904,765
State and local general sales tax	$34,507
Real estate taxes	$12,178,895
Taxes paid	$24,900,764
Mortgage interest paid	$22,026,775
Contributions	$4,519,745
Taxable income	$135,109,606
Total tax credits [5]	$517,400
Residential energy tax credit	$12,044
Child tax credit	$225,758
Child and dependent care credit	$50,609
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$688,600
Income tax [8]	$24,285,008
Total tax liability [9]	$27,431,487
Tax due at time of filing [10]	$2,602,306
Overpayments refunded [11]	($6,854,735)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	2,089
Number of joint returns	1,836
Number of returns with paid preparer's signature	1,552
Number of exemptions	6,370
Number of dependents	1,223
Adjust gross income (AGI) [2]	$1,373,659,117
Salaries and wages	$795,693,077
Taxable interest	$36,990,688
Ordinary dividends	$50,474,828
Business or professional net income (less loss)	$61,936,305
Net capital gain (less loss)	$143,351,141
Taxable individual retirement arrangements distributions	$12,314,652
Taxable pensions and annuities	$14,586,836
Unemployment compensation [3]	$652,765
Taxable Social Security benefits	$7,462,959
Self-employment retirement plans	$10,918,464
Total itemized deductions [4]	$206,270,876
State and local income taxes	$93,873,675
State and local general sales tax	$28,537
Real estate taxes	$24,709,248
Taxes paid	$120,649,653
Mortgage interest paid	$47,971,782
Contributions	$31,890,478
Taxable income	$1,151,194,790
Total tax credits [5]	$8,792,381
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$115,606
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$13,036,583
Income tax [8]	$325,278,169
Total tax liability [9]	$335,339,988
Tax due at time of filing [10]	$18,546,748
Overpayments refunded [11]	($15,061,240)

[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.