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12522 Income Tax Overview

Total Number of Tax Returns for ZIP Code 12522 [1]	2,328
Total Number of Joint Tax Returns for ZIP Code 12522	939
Total Number of Dependents for ZIP Code 12522	741
Total Adjusted Gross Income for ZIP Code 12522	113,944,444
Average Income per Person for ZIP Code 12522	$22,031

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]	401
Number of joint returns	38
Number of returns with paid preparer's signature	207
Number of exemptions	368
Number of dependents	36
Adjust gross income (AGI) [2]	$1,558,241
Salaries and wages	$1,817,802
Taxable interest	$120,181
Ordinary dividends	$48,998
Business or professional net income (less loss)	$192,578
Net capital gain (less loss)	($35,576)
Taxable individual retirement arrangements distributions	$34,477
Taxable pensions and annuities	$211,209
Unemployment compensation [3]	$34,095
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$710,211
State and local income taxes	$0
State and local general sales tax	$4,551
Real estate taxes	$150,407
Taxes paid	$173,901
Mortgage interest paid	$200,196
Contributions	$12,991
Taxable income	$99,600
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$81,077
Excess earned income credit (refundable) [7]	$67,994
Alternative minimum tax	$0
Income tax [8]	$10,854
Total tax liability [9]	$54,269
Tax due at time of filing [10]	$18,633
Overpayments refunded [11]	($224,079)

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

Number of returns [1]	491
Number of joint returns	122
Number of returns with paid preparer's signature	306
Number of exemptions	778
Number of dependents	111
Adjust gross income (AGI) [2]	$8,479,885
Salaries and wages	$5,481,790
Taxable interest	$274,302
Ordinary dividends	$83,854
Business or professional net income (less loss)	$425,464
Net capital gain (less loss)	$51,555
Taxable individual retirement arrangements distributions	$144,249
Taxable pensions and annuities	$1,950,000
Unemployment compensation [3]	$165,815
Taxable Social Security benefits	$101,826
Self-employment retirement plans	$0
Total itemized deductions [4]	$784,630
State and local income taxes	$19,516
State and local general sales tax	$15,293
Real estate taxes	$149,422
Taxes paid	$189,523
Mortgage interest paid	$325,279
Contributions	$31,973
Taxable income	$2,407,479
Total tax credits [5]	$40,025
Residential energy tax credit	$0
Child tax credit	$11,469
Child and dependent care credit	$0
Earned income credit [6]	$259,917
Excess earned income credit (refundable) [7]	$213,380
Alternative minimum tax	$0
Income tax [8]	$218,876
Total tax liability [9]	$305,473
Tax due at time of filing [10]	$34,443
Overpayments refunded [11]	($746,642)

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

Number of returns [1]	588
Number of joint returns	156
Number of returns with paid preparer's signature	394
Number of exemptions	1,077
Number of dependents	200
Adjust gross income (AGI) [2]	$21,537,437
Salaries and wages	$16,750,313
Taxable interest	$334,131
Ordinary dividends	$267,010
Business or professional net income (less loss)	$434,930
Net capital gain (less loss)	($41,460)
Taxable individual retirement arrangements distributions	$245,768
Taxable pensions and annuities	$2,925,853
Unemployment compensation [3]	$197,659
Taxable Social Security benefits	$801,913
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,375,933
State and local income taxes	$310,409
State and local general sales tax	$24,552
Real estate taxes	$573,567
Taxes paid	$922,434
Mortgage interest paid	$960,779
Contributions	$103,760
Taxable income	$12,084,161
Total tax credits [5]	$197,279
Residential energy tax credit	$0
Child tax credit	$143,413
Child and dependent care credit	$16,069
Earned income credit [6]	$115,576
Excess earned income credit (refundable) [7]	$94,966
Alternative minimum tax	$0
Income tax [8]	$1,363,334
Total tax liability [9]	$1,495,085
Tax due at time of filing [10]	$74,541
Overpayments refunded [11]	($1,227,793)

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

Number of returns [1]	340
Number of joint returns	186
Number of returns with paid preparer's signature	244
Number of exemptions	779
Number of dependents	141
Adjust gross income (AGI) [2]	$20,960,985
Salaries and wages	$15,627,349
Taxable interest	$373,373
Ordinary dividends	$135,650
Business or professional net income (less loss)	$786,209
Net capital gain (less loss)	($28,920)
Taxable individual retirement arrangements distributions	$278,520
Taxable pensions and annuities	$2,434,828
Unemployment compensation [3]	$146,785
Taxable Social Security benefits	$1,257,532
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,355,951
State and local income taxes	$471,458
State and local general sales tax	$27,223
Real estate taxes	$797,525
Taxes paid	$1,301,641
Mortgage interest paid	$1,490,553
Contributions	$174,634
Taxable income	$13,256,448
Total tax credits [5]	$181,006
Residential energy tax credit	$0
Child tax credit	$146,637
Child and dependent care credit	$6,926
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,741,020
Total tax liability [9]	$1,871,643
Tax due at time of filing [10]	$115,771
Overpayments refunded [11]	($779,412)

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

Number of returns [1]	237
Number of joint returns	191
Number of returns with paid preparer's signature	164
Number of exemptions	632
Number of dependents	115
Adjust gross income (AGI) [2]	$20,576,834
Salaries and wages	$15,343,211
Taxable interest	$195,084
Ordinary dividends	$141,243
Business or professional net income (less loss)	$460,182
Net capital gain (less loss)	$115,568
Taxable individual retirement arrangements distributions	$542,054
Taxable pensions and annuities	$2,444,175
Unemployment compensation [3]	$112,416
Taxable Social Security benefits	$1,054,261
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,002,817
State and local income taxes	$735,426
State and local general sales tax	$0
Real estate taxes	$851,799
Taxes paid	$1,628,082
Mortgage interest paid	$1,593,659
Contributions	$276,873
Taxable income	$13,577,661
Total tax credits [5]	$181,090
Residential energy tax credit	$0
Child tax credit	$141,585
Child and dependent care credit	$8,126
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,807,435
Total tax liability [9]	$1,915,002
Tax due at time of filing [10]	$80,953
Overpayments refunded [11]	($824,515)

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

Number of returns [1]	241
Number of joint returns	217
Number of returns with paid preparer's signature	182
Number of exemptions	688
Number of dependents	128
Adjust gross income (AGI) [2]	$31,260,886
Salaries and wages	$26,034,169
Taxable interest	$294,731
Ordinary dividends	$204,691
Business or professional net income (less loss)	$476,769
Net capital gain (less loss)	$187,999
Taxable individual retirement arrangements distributions	$347,173
Taxable pensions and annuities	$2,320,708
Unemployment compensation [3]	$92,030
Taxable Social Security benefits	$590,717
Self-employment retirement plans	$0
Total itemized deductions [4]	$6,271,349
State and local income taxes	$1,543,882
State and local general sales tax	$22,284
Real estate taxes	$1,298,990
Taxes paid	$2,877,960
Mortgage interest paid	$2,371,258
Contributions	$414,081
Taxable income	$22,302,582
Total tax credits [5]	$109,891
Residential energy tax credit	$0
Child tax credit	$84,200
Child and dependent care credit	$9,388
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$34,004
Income tax [8]	$3,808,356
Total tax liability [9]	$3,931,756
Tax due at time of filing [10]	$265,150
Overpayments refunded [11]	($960,263)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	30
Number of joint returns	29
Number of returns with paid preparer's signature	27
Number of exemptions	82
Number of dependents	10
Adjust gross income (AGI) [2]	$9,570,176
Salaries and wages	$4,644,670
Taxable interest	$149,829
Ordinary dividends	$162,060
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$311,913
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$538,324
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,931,235
State and local income taxes	$648,171
State and local general sales tax	$0
Real estate taxes	$324,624
Taxes paid	$980,182
Mortgage interest paid	$457,768
Contributions	$132,034
Taxable income	$7,382,606
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	$125,184
Income tax [8]	$1,878,433
Total tax liability [9]	$1,990,698
Tax due at time of filing [10]	$150,521
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.