Home » New York » NASSAU County » ZIP Code 11550 » Tax Stats

11550 Income Tax Overview

Total Number of Tax Returns for ZIP Code 11550 [1]	24,540
Total Number of Joint Tax Returns for ZIP Code 11550	4,334
Total Number of Dependents for ZIP Code 11550	11,239
Total Adjusted Gross Income for ZIP Code 11550	948,381,941
Average Income per Person for ZIP Code 11550	$16,805

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]	4,497
Number of joint returns	186
Number of returns with paid preparer's signature	3,105
Number of exemptions	5,530
Number of dependents	1,239
Adjust gross income (AGI) [2]	$22,837,899
Salaries and wages	$18,584,895
Taxable interest	$452,609
Ordinary dividends	$198,230
Business or professional net income (less loss)	$4,601,279
Net capital gain (less loss)	$2,341
Taxable individual retirement arrangements distributions	$298,727
Taxable pensions and annuities	$1,132,215
Unemployment compensation [3]	$494,483
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,878,893
State and local income taxes	$65,180
State and local general sales tax	$33,818
Real estate taxes	$729,056
Taxes paid	$899,572
Mortgage interest paid	$1,143,801
Contributions	$48,142
Taxable income	$640,474
Total tax credits [5]	$4,264
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$2,937,019
Excess earned income credit (refundable) [7]	$2,437,365
Alternative minimum tax	$0
Income tax [8]	$60,397
Total tax liability [9]	$887,083
Tax due at time of filing [10]	$263,143
Overpayments refunded [11]	($4,108,650)

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

Number of returns [1]	7,436
Number of joint returns	672
Number of returns with paid preparer's signature	5,550
Number of exemptions	13,947
Number of dependents	3,880
Adjust gross income (AGI) [2]	$126,202,977
Salaries and wages	$107,821,259
Taxable interest	$903,168
Ordinary dividends	$351,910
Business or professional net income (less loss)	$9,342,047
Net capital gain (less loss)	($45,362)
Taxable individual retirement arrangements distributions	$718,708
Taxable pensions and annuities	$6,354,765
Unemployment compensation [3]	$2,876,122
Taxable Social Security benefits	$314,820
Self-employment retirement plans	$0
Total itemized deductions [4]	$14,810,379
State and local income taxes	$431,874
State and local general sales tax	$115,188
Real estate taxes	$3,486,005
Taxes paid	$4,509,601
Mortgage interest paid	$5,556,152
Contributions	$1,005,249
Taxable income	$30,214,218
Total tax credits [5]	$1,132,515
Residential energy tax credit	$0
Child tax credit	$317,078
Child and dependent care credit	$244,714
Earned income credit [6]	$11,257,742
Excess earned income credit (refundable) [7]	$10,132,422
Alternative minimum tax	$0
Income tax [8]	$2,108,965
Total tax liability [9]	$3,560,602
Tax due at time of filing [10]	$347,911
Overpayments refunded [11]	($20,942,945)

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

Number of returns [1]	6,756
Number of joint returns	1,081
Number of returns with paid preparer's signature	4,911
Number of exemptions	13,092
Number of dependents	3,294
Adjust gross income (AGI) [2]	$241,905,453
Salaries and wages	$220,170,611
Taxable interest	$1,601,688
Ordinary dividends	$751,080
Business or professional net income (less loss)	$2,541,388
Net capital gain (less loss)	($114,624)
Taxable individual retirement arrangements distributions	$1,467,965
Taxable pensions and annuities	$11,581,766
Unemployment compensation [3]	$2,080,032
Taxable Social Security benefits	$3,672,542
Self-employment retirement plans	$0
Total itemized deductions [4]	$50,799,193
State and local income taxes	$3,812,784
State and local general sales tax	$391,937
Real estate taxes	$10,356,189
Taxes paid	$15,731,545
Mortgage interest paid	$17,321,142
Contributions	$4,734,942
Taxable income	$118,670,700
Total tax credits [5]	$3,871,697
Residential energy tax credit	$0
Child tax credit	$1,834,630
Child and dependent care credit	$814,913
Earned income credit [6]	$1,947,308
Excess earned income credit (refundable) [7]	$1,723,422
Alternative minimum tax	$0
Income tax [8]	$11,087,300
Total tax liability [9]	$11,692,375
Tax due at time of filing [10]	$702,349
Overpayments refunded [11]	($18,733,214)

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

Number of returns [1]	2,824
Number of joint returns	748
Number of returns with paid preparer's signature	2,117
Number of exemptions	5,787
Number of dependents	1,292
Adjust gross income (AGI) [2]	$172,193,602
Salaries and wages	$148,229,840
Taxable interest	$1,660,182
Ordinary dividends	$753,719
Business or professional net income (less loss)	$1,469,009
Net capital gain (less loss)	($113,365)
Taxable individual retirement arrangements distributions	$1,877,033
Taxable pensions and annuities	$12,595,005
Unemployment compensation [3]	$601,868
Taxable Social Security benefits	$5,605,069
Self-employment retirement plans	$0
Total itemized deductions [4]	$46,759,446
State and local income taxes	$5,585,023
State and local general sales tax	$165,268
Real estate taxes	$10,475,793
Taxes paid	$16,838,162
Mortgage interest paid	$16,285,702
Contributions	$4,839,397
Taxable income	$98,975,000
Total tax credits [5]	$1,571,420
Residential energy tax credit	$16,771
Child tax credit	$1,112,381
Child and dependent care credit	$228,978
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$18,279
Income tax [8]	$13,077,492
Total tax liability [9]	$13,471,947
Tax due at time of filing [10]	$713,154
Overpayments refunded [11]	($9,366,270)

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

Number of returns [1]	1,441
Number of joint returns	614
Number of returns with paid preparer's signature	1,115
Number of exemptions	3,205
Number of dependents	660
Adjust gross income (AGI) [2]	$124,245,107
Salaries and wages	$104,031,464
Taxable interest	$1,126,091
Ordinary dividends	$869,533
Business or professional net income (less loss)	$1,106,781
Net capital gain (less loss)	$48,710
Taxable individual retirement arrangements distributions	$1,516,660
Taxable pensions and annuities	$10,388,774
Unemployment compensation [3]	$335,045
Taxable Social Security benefits	$4,511,844
Self-employment retirement plans	$0
Total itemized deductions [4]	$34,803,862
State and local income taxes	$5,174,987
State and local general sales tax	$123,435
Real estate taxes	$7,882,416
Taxes paid	$13,423,991
Mortgage interest paid	$12,026,547
Contributions	$3,777,359
Taxable income	$76,202,341
Total tax credits [5]	$881,218
Residential energy tax credit	$0
Child tax credit	$543,995
Child and dependent care credit	$111,171
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$105,292
Income tax [8]	$11,372,508
Total tax liability [9]	$11,704,850
Tax due at time of filing [10]	$562,342
Overpayments refunded [11]	($5,692,828)

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

Number of returns [1]	1,401
Number of joint returns	886
Number of returns with paid preparer's signature	1,061
Number of exemptions	3,653
Number of dependents	767
Adjust gross income (AGI) [2]	$181,977,302
Salaries and wages	$152,172,936
Taxable interest	$2,096,805
Ordinary dividends	$976,806
Business or professional net income (less loss)	$1,850,797
Net capital gain (less loss)	$200,227
Taxable individual retirement arrangements distributions	$2,990,124
Taxable pensions and annuities	$15,733,337
Unemployment compensation [3]	$421,104
Taxable Social Security benefits	$4,265,368
Self-employment retirement plans	$383,179
Total itemized deductions [4]	$48,541,545
State and local income taxes	$9,186,519
State and local general sales tax	$106,713
Real estate taxes	$10,752,339
Taxes paid	$20,331,180
Mortgage interest paid	$16,412,210
Contributions	$5,338,756
Taxable income	$119,985,637
Total tax credits [5]	$539,314
Residential energy tax credit	$0
Child tax credit	$367,299
Child and dependent care credit	$122,337
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$530,442
Income tax [8]	$21,693,588
Total tax liability [9]	$22,255,443
Tax due at time of filing [10]	$1,311,879
Overpayments refunded [11]	($6,268,376)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	185
Number of joint returns	147
Number of returns with paid preparer's signature	152
Number of exemptions	547
Number of dependents	107
Adjust gross income (AGI) [2]	$79,019,601
Salaries and wages	$57,349,159
Taxable interest	$3,141,003
Ordinary dividends	$2,287,690
Business or professional net income (less loss)	$1,150,966
Net capital gain (less loss)	$1,839,672
Taxable individual retirement arrangements distributions	$563,883
Taxable pensions and annuities	$3,991,153
Unemployment compensation [3]	$0
Taxable Social Security benefits	$917,890
Self-employment retirement plans	$0
Total itemized deductions [4]	$13,439,878
State and local income taxes	$5,310,749
State and local general sales tax	$0
Real estate taxes	$2,408,327
Taxes paid	$7,748,641
Mortgage interest paid	$2,995,252
Contributions	$1,875,301
Taxable income	$63,881,593
Total tax credits [5]	$60,879
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$15,684
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$948,930
Income tax [8]	$18,343,795
Total tax liability [9]	$18,661,253
Tax due at time of filing [10]	$1,375,519
Overpayments refunded [11]	($1,688,264)

[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.