Home » New Jersey » CAMDEN County » BELLMAWR, NJ » ZIP Code 08031 » Tax Stats

08031 Income Tax Overview

Total Number of Tax Returns for ZIP Code 08031 [1]	5,864
Total Number of Joint Tax Returns for ZIP Code 08031	2,154
Total Number of Dependents for ZIP Code 08031	1,861
Total Adjusted Gross Income for ZIP Code 08031	254,440,292
Average Income per Person for ZIP Code 08031	$21,965

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]	905
Number of joint returns	86
Number of returns with paid preparer's signature	420
Number of exemptions	872
Number of dependents	120
Adjust gross income (AGI) [2]	$4,089,408
Salaries and wages	$3,511,453
Taxable interest	$266,950
Ordinary dividends	$72,478
Business or professional net income (less loss)	$104,019
Net capital gain (less loss)	($50,069)
Taxable individual retirement arrangements distributions	$180,644
Taxable pensions and annuities	$495,024
Unemployment compensation [3]	$164,792
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$836,160
State and local income taxes	$0
State and local general sales tax	$13,981
Real estate taxes	$251,051
Taxes paid	$275,966
Mortgage interest paid	$199,623
Contributions	$26,613
Taxable income	$222,754
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$219,706
Excess earned income credit (refundable) [7]	$201,442
Alternative minimum tax	$0
Income tax [8]	$22,817
Total tax liability [9]	$64,029
Tax due at time of filing [10]	$20,897
Overpayments refunded [11]	($540,842)

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

Number of returns [1]	1,342
Number of joint returns	233
Number of returns with paid preparer's signature	689
Number of exemptions	2,026
Number of dependents	329
Adjust gross income (AGI) [2]	$23,174,958
Salaries and wages	$16,118,183
Taxable interest	$653,860
Ordinary dividends	$246,327
Business or professional net income (less loss)	$914,836
Net capital gain (less loss)	($11,738)
Taxable individual retirement arrangements distributions	$646,821
Taxable pensions and annuities	$3,384,564
Unemployment compensation [3]	$1,175,767
Taxable Social Security benefits	$156,743
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,428,593
State and local income taxes	$43,324
State and local general sales tax	$42,107
Real estate taxes	$693,350
Taxes paid	$790,401
Mortgage interest paid	$661,269
Contributions	$165,091
Taxable income	$7,097,287
Total tax credits [5]	$96,771
Residential energy tax credit	$0
Child tax credit	$37,921
Child and dependent care credit	$6,149
Earned income credit [6]	$773,018
Excess earned income credit (refundable) [7]	$701,016
Alternative minimum tax	$0
Income tax [8]	$671,202
Total tax liability [9]	$831,344
Tax due at time of filing [10]	$97,842
Overpayments refunded [11]	($2,108,858)

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

Number of returns [1]	1,681
Number of joint returns	467
Number of returns with paid preparer's signature	941
Number of exemptions	3,046
Number of dependents	524
Adjust gross income (AGI) [2]	$61,865,629
Salaries and wages	$50,877,645
Taxable interest	$820,695
Ordinary dividends	$446,105
Business or professional net income (less loss)	$1,188,147
Net capital gain (less loss)	($75,011)
Taxable individual retirement arrangements distributions	$1,074,240
Taxable pensions and annuities	$4,841,788
Unemployment compensation [3]	$1,275,457
Taxable Social Security benefits	$1,579,861
Self-employment retirement plans	$0
Total itemized deductions [4]	$7,666,613
State and local income taxes	$462,998
State and local general sales tax	$127,311
Real estate taxes	$2,091,346
Taxes paid	$2,712,465
Mortgage interest paid	$2,996,565
Contributions	$457,649
Taxable income	$34,735,513
Total tax credits [5]	$531,598
Residential energy tax credit	$0
Child tax credit	$364,829
Child and dependent care credit	$37,236
Earned income credit [6]	$261,312
Excess earned income credit (refundable) [7]	$207,084
Alternative minimum tax	$0
Income tax [8]	$3,917,830
Total tax liability [9]	$4,169,046
Tax due at time of filing [10]	$220,893
Overpayments refunded [11]	($3,389,234)

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

Number of returns [1]	963
Number of joint returns	543
Number of returns with paid preparer's signature	535
Number of exemptions	2,208
Number of dependents	396
Adjust gross income (AGI) [2]	$58,954,609
Salaries and wages	$49,913,650
Taxable interest	$747,377
Ordinary dividends	$403,070
Business or professional net income (less loss)	$673,660
Net capital gain (less loss)	$200,495
Taxable individual retirement arrangements distributions	$963,223
Taxable pensions and annuities	$3,217,269
Unemployment compensation [3]	$948,521
Taxable Social Security benefits	$2,095,196
Self-employment retirement plans	$0
Total itemized deductions [4]	$9,415,538
State and local income taxes	$1,153,210
State and local general sales tax	$83,951
Real estate taxes	$2,387,798
Taxes paid	$3,487,586
Mortgage interest paid	$3,766,909
Contributions	$633,909
Taxable income	$37,909,271
Total tax credits [5]	$585,451
Residential energy tax credit	$0
Child tax credit	$479,712
Child and dependent care credit	$29,305
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$4,868,913
Total tax liability [9]	$5,030,321
Tax due at time of filing [10]	$284,504
Overpayments refunded [11]	($2,559,923)

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

Number of returns [1]	529
Number of joint returns	424
Number of returns with paid preparer's signature	341
Number of exemptions	1,403
Number of dependents	263
Adjust gross income (AGI) [2]	$45,951,563
Salaries and wages	$39,613,222
Taxable interest	$440,216
Ordinary dividends	$144,147
Business or professional net income (less loss)	$590,558
Net capital gain (less loss)	$19,740
Taxable individual retirement arrangements distributions	$689,169
Taxable pensions and annuities	$2,794,290
Unemployment compensation [3]	$455,404
Taxable Social Security benefits	$1,253,191
Self-employment retirement plans	$0
Total itemized deductions [4]	$7,643,200
State and local income taxes	$1,067,076
State and local general sales tax	$37,982
Real estate taxes	$1,881,265
Taxes paid	$3,026,803
Mortgage interest paid	$2,886,477
Contributions	$612,214
Taxable income	$31,892,508
Total tax credits [5]	$419,129
Residential energy tax credit	$0
Child tax credit	$314,801
Child and dependent care credit	$20,373
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$4,338,518
Total tax liability [9]	$4,448,346
Tax due at time of filing [10]	$162,647
Overpayments refunded [11]	($1,607,681)

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

Number of returns [1]	420
Number of joint returns	380
Number of returns with paid preparer's signature	294
Number of exemptions	1,202
Number of dependents	215
Adjust gross income (AGI) [2]	$53,093,521
Salaries and wages	$43,842,043
Taxable interest	$616,313
Ordinary dividends	$450,576
Business or professional net income (less loss)	$589,110
Net capital gain (less loss)	$583,338
Taxable individual retirement arrangements distributions	$880,733
Taxable pensions and annuities	$3,956,171
Unemployment compensation [3]	$413,456
Taxable Social Security benefits	$1,094,318
Self-employment retirement plans	$0
Total itemized deductions [4]	$8,495,347
State and local income taxes	$1,691,183
State and local general sales tax	$0
Real estate taxes	$1,951,827
Taxes paid	$3,695,277
Mortgage interest paid	$2,775,714
Contributions	$819,358
Taxable income	$39,585,632
Total tax credits [5]	$228,487
Residential energy tax credit	$0
Child tax credit	$166,400
Child and dependent care credit	$20,065
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$33,211
Income tax [8]	$6,713,480
Total tax liability [9]	$6,909,333
Tax due at time of filing [10]	$449,763
Overpayments refunded [11]	($1,365,553)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	24
Number of joint returns	21
Number of returns with paid preparer's signature	19
Number of exemptions	69
Number of dependents	14
Adjust gross income (AGI) [2]	$7,310,604
Salaries and wages	$3,901,094
Taxable interest	$85,736
Ordinary dividends	$23,443
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]	$1,225,686
State and local income taxes	$312,157
State and local general sales tax	$0
Real estate taxes	$191,927
Taxes paid	$521,359
Mortgage interest paid	$207,463
Contributions	$128,707
Taxable income	$5,861,951
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	$46,390
Income tax [8]	$1,374,633
Total tax liability [9]	$1,392,554
Tax due at time of filing [10]	$136,705
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.