Home » New Jersey » BERGEN County » ZIP Code 07666 » Tax Stats

07666 Income Tax Overview

Total Number of Tax Returns for ZIP Code 07666 [1]	19,194
Total Number of Joint Tax Returns for ZIP Code 07666	7,360
Total Number of Dependents for ZIP Code 07666	7,039
Total Adjusted Gross Income for ZIP Code 07666	1,814,235,222
Average Income per Person for ZIP Code 07666	$45,611

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]	3,302
Number of joint returns	236
Number of returns with paid preparer's signature	2,179
Number of exemptions	2,315
Number of dependents	281
Adjust gross income (AGI) [2]	$9,415,839
Salaries and wages	$12,366,589
Taxable interest	$2,909,083
Ordinary dividends	$2,017,538
Business or professional net income (less loss)	$1,131,336
Net capital gain (less loss)	$1,976,080
Taxable individual retirement arrangements distributions	$606,005
Taxable pensions and annuities	$970,319
Unemployment compensation [3]	$349,098
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$8,244,543
State and local income taxes	$1,258,661
State and local general sales tax	$48,783
Real estate taxes	$2,502,367
Taxes paid	$3,822,939
Mortgage interest paid	$1,950,421
Contributions	$129,709
Taxable income	$1,558,606
Total tax credits [5]	$12,628
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$499,550
Excess earned income credit (refundable) [7]	$382,324
Alternative minimum tax	$0
Income tax [8]	$180,365
Total tax liability [9]	$573,605
Tax due at time of filing [10]	$200,322
Overpayments refunded [11]	($3,015,299)

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

Number of returns [1]	2,730
Number of joint returns	411
Number of returns with paid preparer's signature	1,850
Number of exemptions	4,084
Number of dependents	693
Adjust gross income (AGI) [2]	$46,875,651
Salaries and wages	$32,565,041
Taxable interest	$2,058,538
Ordinary dividends	$1,850,189
Business or professional net income (less loss)	$3,893,145
Net capital gain (less loss)	$177,982
Taxable individual retirement arrangements distributions	$1,249,131
Taxable pensions and annuities	$4,635,066
Unemployment compensation [3]	$1,704,709
Taxable Social Security benefits	$435,245
Self-employment retirement plans	$30,705
Total itemized deductions [4]	$11,191,812
State and local income taxes	$273,526
State and local general sales tax	$141,533
Real estate taxes	$3,738,800
Taxes paid	$4,227,149
Mortgage interest paid	$2,988,502
Contributions	$722,387
Taxable income	$13,990,292
Total tax credits [5]	$297,176
Residential energy tax credit	$0
Child tax credit	$46,178
Child and dependent care credit	$17,502
Earned income credit [6]	$1,698,490
Excess earned income credit (refundable) [7]	$1,370,862
Alternative minimum tax	$7,044
Income tax [8]	$1,271,698
Total tax liability [9]	$1,956,976
Tax due at time of filing [10]	$330,178
Overpayments refunded [11]	($4,527,851)

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

Number of returns [1]	3,504
Number of joint returns	699
Number of returns with paid preparer's signature	2,439
Number of exemptions	6,097
Number of dependents	1,175
Adjust gross income (AGI) [2]	$128,896,933
Salaries and wages	$103,070,153
Taxable interest	$3,030,901
Ordinary dividends	$3,026,873
Business or professional net income (less loss)	$4,142,466
Net capital gain (less loss)	$759,863
Taxable individual retirement arrangements distributions	$2,239,960
Taxable pensions and annuities	$9,097,492
Unemployment compensation [3]	$2,149,716
Taxable Social Security benefits	$4,070,325
Self-employment retirement plans	$122,917
Total itemized deductions [4]	$27,921,147
State and local income taxes	$1,589,580
State and local general sales tax	$288,719
Real estate taxes	$7,941,662
Taxes paid	$10,011,046
Mortgage interest paid	$8,995,298
Contributions	$2,407,270
Taxable income	$67,416,951
Total tax credits [5]	$1,434,162
Residential energy tax credit	$0
Child tax credit	$566,852
Child and dependent care credit	$168,251
Earned income credit [6]	$507,453
Excess earned income credit (refundable) [7]	$397,994
Alternative minimum tax	$0
Income tax [8]	$7,148,684
Total tax liability [9]	$8,066,566
Tax due at time of filing [10]	$755,154
Overpayments refunded [11]	($7,846,819)

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

Number of returns [1]	2,620
Number of joint returns	855
Number of returns with paid preparer's signature	1,873
Number of exemptions	5,286
Number of dependents	1,048
Adjust gross income (AGI) [2]	$161,129,741
Salaries and wages	$125,324,240
Taxable interest	$3,964,214
Ordinary dividends	$3,164,282
Business or professional net income (less loss)	$4,516,375
Net capital gain (less loss)	$230,638
Taxable individual retirement arrangements distributions	$3,222,226
Taxable pensions and annuities	$12,772,905
Unemployment compensation [3]	$1,315,949
Taxable Social Security benefits	$8,262,675
Self-employment retirement plans	$227,877
Total itemized deductions [4]	$41,366,574
State and local income taxes	$3,883,001
State and local general sales tax	$252,274
Real estate taxes	$11,435,963
Taxes paid	$15,857,608
Mortgage interest paid	$13,823,079
Contributions	$4,067,989
Taxable income	$95,378,945
Total tax credits [5]	$1,328,616
Residential energy tax credit	$0
Child tax credit	$842,504
Child and dependent care credit	$138,059
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$24,083
Income tax [8]	$12,803,191
Total tax liability [9]	$13,747,647
Tax due at time of filing [10]	$916,241
Overpayments refunded [11]	($7,605,609)

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

Number of returns [1]	1,926
Number of joint returns	1,000
Number of returns with paid preparer's signature	1,400
Number of exemptions	4,495
Number of dependents	869
Adjust gross income (AGI) [2]	$167,415,111
Salaries and wages	$124,235,459
Taxable interest	$4,292,855
Ordinary dividends	$4,269,752
Business or professional net income (less loss)	$6,264,569
Net capital gain (less loss)	$778,668
Taxable individual retirement arrangements distributions	$4,278,673
Taxable pensions and annuities	$14,499,437
Unemployment compensation [3]	$841,219
Taxable Social Security benefits	$8,775,613
Self-employment retirement plans	$364,200
Total itemized deductions [4]	$46,161,481
State and local income taxes	$5,866,690
State and local general sales tax	$178,353
Real estate taxes	$12,702,555
Taxes paid	$18,984,996
Mortgage interest paid	$15,396,975
Contributions	$4,635,604
Taxable income	$103,612,996
Total tax credits [5]	$1,292,457
Residential energy tax credit	$0
Child tax credit	$801,758
Child and dependent care credit	$132,418
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$92,497
Income tax [8]	$14,964,424
Total tax liability [9]	$16,284,960
Tax due at time of filing [10]	$987,956
Overpayments refunded [11]	($7,200,564)

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

Number of returns [1]	3,509
Number of joint returns	2,697
Number of returns with paid preparer's signature	2,613
Number of exemptions	10,016
Number of dependents	1,917
Adjust gross income (AGI) [2]	$486,452,721
Salaries and wages	$383,273,529
Taxable interest	$10,245,875
Ordinary dividends	$9,778,739
Business or professional net income (less loss)	$15,127,948
Net capital gain (less loss)	$2,566,244
Taxable individual retirement arrangements distributions	$10,322,570
Taxable pensions and annuities	$31,725,326
Unemployment compensation [3]	$1,779,193
Taxable Social Security benefits	$14,615,134
Self-employment retirement plans	$1,424,684
Total itemized deductions [4]	$120,425,513
State and local income taxes	$23,176,955
State and local general sales tax	$160,765
Real estate taxes	$31,005,960
Taxes paid	$54,993,791
Mortgage interest paid	$39,688,475
Contributions	$13,812,465
Taxable income	$330,051,370
Total tax credits [5]	$1,667,726
Residential energy tax credit	$15,132
Child tax credit	$956,483
Child and dependent care credit	$343,264
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$1,394,582
Income tax [8]	$59,213,237
Total tax liability [9]	$62,421,737
Tax due at time of filing [10]	$3,854,853
Overpayments refunded [11]	($14,000,392)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	1,603
Number of joint returns	1,462
Number of returns with paid preparer's signature	1,269
Number of exemptions	5,821
Number of dependents	1,056
Adjust gross income (AGI) [2]	$814,049,226
Salaries and wages	$470,502,560
Taxable interest	$27,462,886
Ordinary dividends	$37,648,105
Business or professional net income (less loss)	$42,081,402
Net capital gain (less loss)	$70,040,617
Taxable individual retirement arrangements distributions	$8,452,919
Taxable pensions and annuities	$13,269,055
Unemployment compensation [3]	$484,474
Taxable Social Security benefits	$5,464,408
Self-employment retirement plans	$8,574,397
Total itemized deductions [4]	$155,864,042
State and local income taxes	$69,519,016
State and local general sales tax	$39,871
Real estate taxes	$24,175,134
Taxes paid	$94,080,653
Mortgage interest paid	$22,944,440
Contributions	$31,122,809
Taxable income	$646,046,466
Total tax credits [5]	$3,765,130
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$156,550
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$12,849,355
Income tax [8]	$179,137,398
Total tax liability [9]	$186,265,173
Tax due at time of filing [10]	$11,470,369
Overpayments refunded [11]	($14,002,890)

[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.