Home » New York » ULSTER County » ZIP Code 12401 » Tax Stats

12401 Income Tax Overview

Total Number of Tax Returns for ZIP Code 12401 [1]	15,830
Total Number of Joint Tax Returns for ZIP Code 12401	5,027
Total Number of Dependents for ZIP Code 12401	4,929
Total Adjusted Gross Income for ZIP Code 12401	721,862,854
Average Income per Person for ZIP Code 12401	$20,601

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]	3,044
Number of joint returns	229
Number of returns with paid preparer's signature	1,644
Number of exemptions	3,174
Number of dependents	504
Adjust gross income (AGI) [2]	$12,012,553
Salaries and wages	$12,666,368
Taxable interest	$861,747
Ordinary dividends	$574,604
Business or professional net income (less loss)	$1,062,739
Net capital gain (less loss)	($159,119)
Taxable individual retirement arrangements distributions	$486,603
Taxable pensions and annuities	$1,339,115
Unemployment compensation [3]	$269,118
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,813,270
State and local income taxes	$159,593
State and local general sales tax	$27,816
Real estate taxes	$705,934
Taxes paid	$952,318
Mortgage interest paid	$1,012,226
Contributions	$50,550
Taxable income	$642,056
Total tax credits [5]	$806
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$1,153,659
Excess earned income credit (refundable) [7]	$1,000,210
Alternative minimum tax	$0
Income tax [8]	$58,594
Total tax liability [9]	$387,060
Tax due at time of filing [10]	$90,311
Overpayments refunded [11]	($2,155,792)

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

Number of returns [1]	3,811
Number of joint returns	543
Number of returns with paid preparer's signature	2,238
Number of exemptions	6,220
Number of dependents	1,206
Adjust gross income (AGI) [2]	$65,695,435
Salaries and wages	$50,244,745
Taxable interest	$1,641,938
Ordinary dividends	$979,156
Business or professional net income (less loss)	$3,582,984
Net capital gain (less loss)	$99,649
Taxable individual retirement arrangements distributions	$1,297,324
Taxable pensions and annuities	$7,582,683
Unemployment compensation [3]	$1,031,468
Taxable Social Security benefits	$361,569
Self-employment retirement plans	$0
Total itemized deductions [4]	$5,869,325
State and local income taxes	$217,877
State and local general sales tax	$98,020
Real estate taxes	$1,283,855
Taxes paid	$1,611,921
Mortgage interest paid	$1,796,511
Contributions	$336,748
Taxable income	$19,492,561
Total tax credits [5]	$310,863
Residential energy tax credit	$0
Child tax credit	$115,966
Child and dependent care credit	$35,560
Earned income credit [6]	$3,276,067
Excess earned income credit (refundable) [7]	$2,971,444
Alternative minimum tax	$0
Income tax [8]	$1,786,067
Total tax liability [9]	$2,423,983
Tax due at time of filing [10]	$310,885
Overpayments refunded [11]	($7,283,784)

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

Number of returns [1]	4,015
Number of joint returns	975
Number of returns with paid preparer's signature	2,285
Number of exemptions	7,102
Number of dependents	1,238
Adjust gross income (AGI) [2]	$144,040,457
Salaries and wages	$117,307,289
Taxable interest	$2,360,188
Ordinary dividends	$1,862,198
Business or professional net income (less loss)	$3,552,713
Net capital gain (less loss)	$254,149
Taxable individual retirement arrangements distributions	$2,201,844
Taxable pensions and annuities	$12,800,056
Unemployment compensation [3]	$949,585
Taxable Social Security benefits	$4,001,049
Self-employment retirement plans	$0
Total itemized deductions [4]	$16,178,072
State and local income taxes	$1,615,937
State and local general sales tax	$261,829
Real estate taxes	$3,621,670
Taxes paid	$5,561,979
Mortgage interest paid	$6,122,638
Contributions	$1,179,966
Taxable income	$81,258,986
Total tax credits [5]	$1,263,662
Residential energy tax credit	$0
Child tax credit	$831,556
Child and dependent care credit	$107,308
Earned income credit [6]	$709,628
Excess earned income credit (refundable) [7]	$563,042
Alternative minimum tax	$0
Income tax [8]	$9,029,292
Total tax liability [9]	$9,824,096
Tax due at time of filing [10]	$596,307
Overpayments refunded [11]	($7,674,843)

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

Number of returns [1]	2,182
Number of joint returns	1,059
Number of returns with paid preparer's signature	1,421
Number of exemptions	4,543
Number of dependents	755
Adjust gross income (AGI) [2]	$134,062,605
Salaries and wages	$102,809,042
Taxable interest	$2,434,935
Ordinary dividends	$2,266,702
Business or professional net income (less loss)	$3,638,279
Net capital gain (less loss)	$404,411
Taxable individual retirement arrangements distributions	$2,337,126
Taxable pensions and annuities	$13,440,679
Unemployment compensation [3]	$608,647
Taxable Social Security benefits	$6,892,595
Self-employment retirement plans	$154,152
Total itemized deductions [4]	$20,541,109
State and local income taxes	$3,237,183
State and local general sales tax	$136,525
Real estate taxes	$4,593,728
Taxes paid	$8,028,380
Mortgage interest paid	$7,541,801
Contributions	$1,628,765
Taxable income	$88,222,183
Total tax credits [5]	$1,080,661
Residential energy tax credit	$0
Child tax credit	$820,422
Child and dependent care credit	$59,357
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$11,801,723
Total tax liability [9]	$12,510,957
Tax due at time of filing [10]	$796,962
Overpayments refunded [11]	($4,991,559)

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

Number of returns [1]	1,306
Number of joint returns	970
Number of returns with paid preparer's signature	887
Number of exemptions	3,222
Number of dependents	552
Adjust gross income (AGI) [2]	$112,743,892
Salaries and wages	$87,222,525
Taxable interest	$2,286,847
Ordinary dividends	$1,910,718
Business or professional net income (less loss)	$2,008,414
Net capital gain (less loss)	$814,347
Taxable individual retirement arrangements distributions	$2,253,579
Taxable pensions and annuities	$10,843,469
Unemployment compensation [3]	$296,687
Taxable Social Security benefits	$5,080,557
Self-employment retirement plans	$110,865
Total itemized deductions [4]	$19,115,836
State and local income taxes	$4,000,207
State and local general sales tax	$78,900
Real estate taxes	$4,149,290
Taxes paid	$8,299,510
Mortgage interest paid	$6,310,948
Contributions	$1,525,018
Taxable income	$78,235,644
Total tax credits [5]	$913,379
Residential energy tax credit	$0
Child tax credit	$634,056
Child and dependent care credit	$52,010
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$25,233
Income tax [8]	$10,819,134
Total tax liability [9]	$11,264,302
Tax due at time of filing [10]	$624,872
Overpayments refunded [11]	($3,678,051)

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

Number of returns [1]	1,258
Number of joint returns	1,070
Number of returns with paid preparer's signature	879
Number of exemptions	3,388
Number of dependents	587
Adjust gross income (AGI) [2]	$164,069,492
Salaries and wages	$122,656,134
Taxable interest	$3,843,114
Ordinary dividends	$4,142,950
Business or professional net income (less loss)	$5,170,348
Net capital gain (less loss)	$3,257,173
Taxable individual retirement arrangements distributions	$2,779,981
Taxable pensions and annuities	$14,133,014
Unemployment compensation [3]	$273,256
Taxable Social Security benefits	$4,831,705
Self-employment retirement plans	$534,336
Total itemized deductions [4]	$29,699,532
State and local income taxes	$8,166,650
State and local general sales tax	$96,086
Real estate taxes	$6,696,533
Taxes paid	$14,996,776
Mortgage interest paid	$8,188,554
Contributions	$3,191,272
Taxable income	$120,971,703
Total tax credits [5]	$493,581
Residential energy tax credit	$0
Child tax credit	$359,450
Child and dependent care credit	$53,516
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$238,889
Income tax [8]	$20,967,911
Total tax liability [9]	$21,877,274
Tax due at time of filing [10]	$1,556,987
Overpayments refunded [11]	($3,789,943)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	214
Number of joint returns	181
Number of returns with paid preparer's signature	184
Number of exemptions	578
Number of dependents	87
Adjust gross income (AGI) [2]	$89,238,420
Salaries and wages	$40,209,315
Taxable interest	$2,660,931
Ordinary dividends	$5,265,320
Business or professional net income (less loss)	$4,529,391
Net capital gain (less loss)	$8,881,196
Taxable individual retirement arrangements distributions	$1,023,231
Taxable pensions and annuities	$2,264,523
Unemployment compensation [3]	$0
Taxable Social Security benefits	$920,570
Self-employment retirement plans	$1,397,543
Total itemized deductions [4]	$11,713,162
State and local income taxes	$5,238,548
State and local general sales tax	$0
Real estate taxes	$2,188,907
Taxes paid	$7,463,232
Mortgage interest paid	$2,094,708
Contributions	$1,760,727
Taxable income	$75,717,693
Total tax credits [5]	$52,088
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	$1,091,596
Income tax [8]	$19,719,756
Total tax liability [9]	$20,467,215
Tax due at time of filing [10]	$2,759,433
Overpayments refunded [11]	($1,313,151)

[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.