MANTOLOKING, NJ 08738

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ZIP Code 08738 Income Tax Stats

Individual Income by ZIP Code -- Tax Statistics: 2008



08738 Income Tax Overview

Total Number of Tax Returns for ZIP Code 08738 [1] 517
Total Number of Joint Tax Returns for ZIP Code 08738 259
Total Number of Dependents for ZIP Code 08738 55
Total Adjusted Gross Income for ZIP Code 08738 82,896,321
Average Income per Person for ZIP Code 08738 $79,555

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] 71
Number of joint returns 11
Number of returns with paid preparer's signature 49
Number of exemptions 57
Number of dependents 0
Adjust gross income (AGI) [2] ($116,924)
Salaries and wages $140,393
Taxable interest $61,336
Ordinary dividends $42,457
Business or professional net income (less loss) $0
Net capital gain (less loss) ($34,861)
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] $578,156
State and local income taxes $18,235
State and local general sales tax $0
Real estate taxes $198,927
Taxes paid $232,766
Mortgage interest paid $0
Contributions $0
Taxable income $11,804
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] $0
Total tax liability [9] $5,157
Tax due at time of filing [10] $0
Overpayments refunded [11] ($55,798)

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

Number of returns [1] 63
Number of joint returns 16
Number of returns with paid preparer's signature 49
Number of exemptions 78
Number of dependents 13
Adjust gross income (AGI) [2] $1,107,671
Salaries and wages $363,824
Taxable interest $303,853
Ordinary dividends $228,106
Business or professional net income (less loss) $136,120
Net capital gain (less loss) ($2,031)
Taxable individual retirement arrangements distributions $120,417
Taxable pensions and annuities $179,485
Unemployment compensation [3] $0
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $1,064,667
State and local income taxes $0
State and local general sales tax $13,280
Real estate taxes $354,877
Taxes paid $307,437
Mortgage interest paid $331,186
Contributions $50,567
Taxable income $307,237
Total tax credits [5] $9,514
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] $23,620
Total tax liability [9] $35,307
Tax due at time of filing [10] $18,655
Overpayments refunded [11] ($82,030)

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

Number of returns [1] 70
Number of joint returns 18
Number of returns with paid preparer's signature 52
Number of exemptions 95
Number of dependents 0
Adjust gross income (AGI) [2] $2,642,939
Salaries and wages $1,252,505
Taxable interest $236,971
Ordinary dividends $250,374
Business or professional net income (less loss) $0
Net capital gain (less loss) $24,077
Taxable individual retirement arrangements distributions $172,066
Taxable pensions and annuities $406,802
Unemployment compensation [3] $51,306
Taxable Social Security benefits $253,066
Self-employment retirement plans $0
Total itemized deductions [4] $986,951
State and local income taxes $30,287
State and local general sales tax $21,064
Real estate taxes $309,162
Taxes paid $388,837
Mortgage interest paid $255,595
Contributions $50,723
Taxable income $1,308,077
Total tax credits [5] $6,839
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] $146,805
Total tax liability [9] $167,050
Tax due at time of filing [10] $10,293
Overpayments refunded [11] ($108,403)

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

Number of returns [1] 61
Number of joint returns 25
Number of returns with paid preparer's signature 50
Number of exemptions 93
Number of dependents 11
Adjust gross income (AGI) [2] $3,748,944
Salaries and wages $1,077,712
Taxable interest $225,761
Ordinary dividends $541,185
Business or professional net income (less loss) $67,391
Net capital gain (less loss) $49,480
Taxable individual retirement arrangements distributions $248,865
Taxable pensions and annuities $770,959
Unemployment compensation [3] $0
Taxable Social Security benefits $584,675
Self-employment retirement plans $0
Total itemized deductions [4] $1,345,765
State and local income taxes $93,303
State and local general sales tax $11,032
Real estate taxes $471,477
Taxes paid $712,766
Mortgage interest paid $123,591
Contributions $59,043
Taxable income $2,140,430
Total tax credits [5] $11,772
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] $279,506
Total tax liability [9] $290,865
Tax due at time of filing [10] $30,186
Overpayments refunded [11] ($83,700)

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

Number of returns [1] 43
Number of joint returns 31
Number of returns with paid preparer's signature 30
Number of exemptions 82
Number of dependents 0
Adjust gross income (AGI) [2] $3,700,177
Salaries and wages $1,137,009
Taxable interest $215,233
Ordinary dividends $439,870
Business or professional net income (less loss) $0
Net capital gain (less loss) $114,568
Taxable individual retirement arrangements distributions $302,802
Taxable pensions and annuities $773,513
Unemployment compensation [3] $0
Taxable Social Security benefits $658,602
Self-employment retirement plans $0
Total itemized deductions [4] $1,194,229
State and local income taxes $78,026
State and local general sales tax $12,513
Real estate taxes $460,205
Taxes paid $551,674
Mortgage interest paid $259,617
Contributions $142,141
Taxable income $2,168,836
Total tax credits [5] $10,270
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] $265,528
Total tax liability [9] $287,814
Tax due at time of filing [10] $0
Overpayments refunded [11] ($155,637)

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

Number of returns [1] 111
Number of joint returns 79
Number of returns with paid preparer's signature 90
Number of exemptions 209
Number of dependents 14
Adjust gross income (AGI) [2] $16,011,518
Salaries and wages $5,602,250
Taxable interest $942,712
Ordinary dividends $1,859,786
Business or professional net income (less loss) $466,554
Net capital gain (less loss) $299,480
Taxable individual retirement arrangements distributions $1,632,710
Taxable pensions and annuities $2,543,680
Unemployment compensation [3] $0
Taxable Social Security benefits $1,504,866
Self-employment retirement plans $285,048
Total itemized deductions [4] $6,396,725
State and local income taxes $985,794
State and local general sales tax $0
Real estate taxes $1,621,518
Taxes paid $2,665,024
Mortgage interest paid $1,205,141
Contributions $409,426
Taxable income $10,258,165
Total tax credits [5] $20,915
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 $130,781
Income tax [8] $1,867,808
Total tax liability [9] $1,959,855
Tax due at time of filing [10] $249,841
Overpayments refunded [11] ($531,258)

Adjusted Gross Income: $200,000 or more

Number of returns [1] 98
Number of joint returns 79
Number of returns with paid preparer's signature 84
Number of exemptions 203
Number of dependents 17
Adjust gross income (AGI) [2] $55,801,996
Salaries and wages $29,143,135
Taxable interest $1,488,688
Ordinary dividends $3,560,486
Business or professional net income (less loss) $2,073,202
Net capital gain (less loss) $3,914,432
Taxable individual retirement arrangements distributions $2,273,436
Taxable pensions and annuities $1,487,671
Unemployment compensation [3] $0
Taxable Social Security benefits $1,077,086
Self-employment retirement plans $0
Total itemized deductions [4] $10,256,109
State and local income taxes $4,650,028
State and local general sales tax $0
Real estate taxes $2,013,558
Taxes paid $6,699,218
Mortgage interest paid $1,860,333
Contributions $1,004,452
Taxable income $44,955,778
Total tax credits [5] $89,163
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 $859,354
Income tax [8] $12,525,115
Total tax liability [9] $12,830,823
Tax due at time of filing [10] $725,427
Overpayments refunded [11] ($602,407)

[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.