LARCHMONT, NY 10538

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ZIP Code 10538 Income Tax Stats

Individual Income by ZIP Code -- Tax Statistics: 2008



10538 Income Tax Overview

Total Number of Tax Returns for ZIP Code 10538 [1] 8,397
Total Number of Joint Tax Returns for ZIP Code 10538 3,913
Total Number of Dependents for ZIP Code 10538 3,005
Total Adjusted Gross Income for ZIP Code 10538 2,511,259,062
Average Income per Person for ZIP Code 10538 $151,308

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] 1,714
Number of joint returns 79
Number of returns with paid preparer's signature 1,283
Number of exemptions 734
Number of dependents 73
Adjust gross income (AGI) [2] $2,662,658
Salaries and wages $5,211,696
Taxable interest $2,580,932
Ordinary dividends $4,123,489
Business or professional net income (less loss) ($43,735)
Net capital gain (less loss) ($46,411)
Taxable individual retirement arrangements distributions $687,113
Taxable pensions and annuities $645,400
Unemployment compensation [3] $0
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $14,406,690
State and local income taxes $1,873,112
State and local general sales tax $13,285
Real estate taxes $1,617,215
Taxes paid $3,581,425
Mortgage interest paid $1,511,463
Contributions $27,492
Taxable income $1,109,906
Total tax credits [5] $15,167
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $71,470
Excess earned income credit (refundable) [7] $50,551
Alternative minimum tax $0
Income tax [8] $103,847
Total tax liability [9] $373,510
Tax due at time of filing [10] $106,582
Overpayments refunded [11] ($1,106,643)

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

Number of returns [1] 727
Number of joint returns 91
Number of returns with paid preparer's signature 499
Number of exemptions 834
Number of dependents 102
Adjust gross income (AGI) [2] $12,138,808
Salaries and wages $6,845,178
Taxable interest $947,712
Ordinary dividends $1,241,778
Business or professional net income (less loss) $1,096,596
Net capital gain (less loss) $145,936
Taxable individual retirement arrangements distributions $640,267
Taxable pensions and annuities $982,303
Unemployment compensation [3] $217,253
Taxable Social Security benefits $190,590
Self-employment retirement plans $0
Total itemized deductions [4] $3,164,807
State and local income taxes $247,036
State and local general sales tax $33,210
Real estate taxes $877,277
Taxes paid $1,171,113
Mortgage interest paid $553,490
Contributions $161,866
Taxable income $4,440,735
Total tax credits [5] $76,215
Residential energy tax credit $0
Child tax credit $6,164
Child and dependent care credit $0
Earned income credit [6] $195,595
Excess earned income credit (refundable) [7] $142,408
Alternative minimum tax $0
Income tax [8] $449,845
Total tax liability [9] $668,096
Tax due at time of filing [10] $155,351
Overpayments refunded [11] ($794,469)

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

Number of returns [1] 816
Number of joint returns 155
Number of returns with paid preparer's signature 587
Number of exemptions 1,190
Number of dependents 146
Adjust gross income (AGI) [2] $30,270,467
Salaries and wages $19,875,232
Taxable interest $1,680,329
Ordinary dividends $1,610,902
Business or professional net income (less loss) $1,467,230
Net capital gain (less loss) $248,192
Taxable individual retirement arrangements distributions $1,397,668
Taxable pensions and annuities $2,156,301
Unemployment compensation [3] $282,980
Taxable Social Security benefits $1,656,138
Self-employment retirement plans $0
Total itemized deductions [4] $7,490,583
State and local income taxes $707,996
State and local general sales tax $63,144
Real estate taxes $2,278,720
Taxes paid $3,063,881
Mortgage interest paid $1,558,055
Contributions $574,720
Taxable income $16,661,211
Total tax credits [5] $211,247
Residential energy tax credit $0
Child tax credit $71,299
Child and dependent care credit $11,991
Earned income credit [6] $56,870
Excess earned income credit (refundable) [7] $42,804
Alternative minimum tax $0
Income tax [8] $1,930,286
Total tax liability [9] $2,245,209
Tax due at time of filing [10] $290,691
Overpayments refunded [11] ($1,382,108)

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

Number of returns [1] 782
Number of joint returns 195
Number of returns with paid preparer's signature 561
Number of exemptions 1,256
Number of dependents 164
Adjust gross income (AGI) [2] $48,215,042
Salaries and wages $31,833,587
Taxable interest $2,107,145
Ordinary dividends $2,395,312
Business or professional net income (less loss) $2,546,701
Net capital gain (less loss) $208,755
Taxable individual retirement arrangements distributions $1,966,555
Taxable pensions and annuities $4,066,763
Unemployment compensation [3] $158,763
Taxable Social Security benefits $3,409,582
Self-employment retirement plans $206,919
Total itemized deductions [4] $11,530,251
State and local income taxes $1,608,081
State and local general sales tax $85,653
Real estate taxes $3,405,089
Taxes paid $5,159,546
Mortgage interest paid $2,775,851
Contributions $996,365
Taxable income $31,177,641
Total tax credits [5] $207,443
Residential energy tax credit $0
Child tax credit $126,821
Child and dependent care credit $9,809
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $21,913
Income tax [8] $4,663,911
Total tax liability [9] $5,163,383
Tax due at time of filing [10] $417,735
Overpayments refunded [11] ($1,780,596)

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

Number of returns [1] 577
Number of joint returns 230
Number of returns with paid preparer's signature 435
Number of exemptions 1,047
Number of dependents 150
Adjust gross income (AGI) [2] $50,071,779
Salaries and wages $32,574,085
Taxable interest $2,127,677
Ordinary dividends $2,258,834
Business or professional net income (less loss) $1,916,860
Net capital gain (less loss) $759,229
Taxable individual retirement arrangements distributions $2,311,529
Taxable pensions and annuities $4,887,755
Unemployment compensation [3] $111,542
Taxable Social Security benefits $3,306,444
Self-employment retirement plans $193,192
Total itemized deductions [4] $15,977,125
State and local income taxes $2,351,932
State and local general sales tax $63,411
Real estate taxes $3,590,435
Taxes paid $6,057,374
Mortgage interest paid $2,985,846
Contributions $1,143,859
Taxable income $33,039,641
Total tax credits [5] $204,584
Residential energy tax credit $0
Child tax credit $111,324
Child and dependent care credit $8,542
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $60,294
Income tax [8] $5,373,126
Total tax liability [9] $5,779,638
Tax due at time of filing [10] $387,756
Overpayments refunded [11] ($1,601,512)

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

Number of returns [1] 1,285
Number of joint returns 858
Number of returns with paid preparer's signature 970
Number of exemptions 3,118
Number of dependents 528
Adjust gross income (AGI) [2] $183,908,658
Salaries and wages $114,780,715
Taxable interest $6,543,710
Ordinary dividends $10,165,235
Business or professional net income (less loss) $14,070,337
Net capital gain (less loss) $2,447,524
Taxable individual retirement arrangements distributions $8,869,198
Taxable pensions and annuities $14,236,172
Unemployment compensation [3] $479,016
Taxable Social Security benefits $8,508,284
Self-employment retirement plans $1,699,567
Total itemized deductions [4] $49,519,684
State and local income taxes $10,623,035
State and local general sales tax $128,063
Real estate taxes $14,895,439
Taxes paid $25,870,977
Mortgage interest paid $13,733,546
Contributions $3,930,601
Taxable income $123,605,513
Total tax credits [5] $440,375
Residential energy tax credit $0
Child tax credit $196,695
Child and dependent care credit $40,838
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $1,199,936
Income tax [8] $23,457,119
Total tax liability [9] $25,634,270
Tax due at time of filing [10] $1,949,349
Overpayments refunded [11] ($5,719,979)

Adjusted Gross Income: $200,000 or more

Number of returns [1] 2,496
Number of joint returns 2,305
Number of returns with paid preparer's signature 2,066
Number of exemptions 8,674
Number of dependents 1,842
Adjust gross income (AGI) [2] $2,183,991,650
Salaries and wages $1,221,285,017
Taxable interest $58,950,745
Ordinary dividends $97,332,078
Business or professional net income (less loss) $61,284,468
Net capital gain (less loss) $248,038,947
Taxable individual retirement arrangements distributions $21,473,297
Taxable pensions and annuities $18,171,893
Unemployment compensation [3] $613,283
Taxable Social Security benefits $8,355,955
Self-employment retirement plans $20,925,339
Total itemized deductions [4] $368,928,368
State and local income taxes $176,544,668
State and local general sales tax $267,300
Real estate taxes $59,827,188
Taxes paid $238,956,757
Mortgage interest paid $59,756,241
Contributions $46,639,528
Taxable income $1,800,894,515
Total tax credits [5] $10,503,074
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $170,310
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $27,211,806
Income tax [8] $532,216,748
Total tax liability [9] $551,188,906
Tax due at time of filing [10] $27,225,707
Overpayments refunded [11] ($25,126,300)

[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.