RALEIGH, NC 27609

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ZIP Code 27609 Income Tax Stats

Individual Income by ZIP Code -- Tax Statistics: 2008



27609 Income Tax Overview

Total Number of Tax Returns for ZIP Code 27609 [1] 16,904
Total Number of Joint Tax Returns for ZIP Code 27609 5,403
Total Number of Dependents for ZIP Code 27609 5,731
Total Adjusted Gross Income for ZIP Code 27609 1,224,182,089
Average Income per Person for ZIP Code 27609 $37,137

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] 2,663
Number of joint returns 176
Number of returns with paid preparer's signature 1,282
Number of exemptions 2,818
Number of dependents 484
Adjust gross income (AGI) [2] $9,883,294
Salaries and wages $11,151,185
Taxable interest $1,251,490
Ordinary dividends $1,224,516
Business or professional net income (less loss) ($1,228,655)
Net capital gain (less loss) ($111,487)
Taxable individual retirement arrangements distributions $509,550
Taxable pensions and annuities $946,389
Unemployment compensation [3] $131,970
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $5,107,031
State and local income taxes $498,117
State and local general sales tax $31,239
Real estate taxes $808,236
Taxes paid $1,393,103
Mortgage interest paid $1,461,181
Contributions $102,128
Taxable income $806,083
Total tax credits [5] $6,162
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $855,593
Excess earned income credit (refundable) [7] $749,845
Alternative minimum tax $0
Income tax [8] $72,002
Total tax liability [9] $360,928
Tax due at time of filing [10] $136,398
Overpayments refunded [11] ($2,084,987)

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

Number of returns [1] 3,768
Number of joint returns 414
Number of returns with paid preparer's signature 1,910
Number of exemptions 7,431
Number of dependents 1,592
Adjust gross income (AGI) [2] $65,654,898
Salaries and wages $52,255,440
Taxable interest $1,784,845
Ordinary dividends $1,736,820
Business or professional net income (less loss) $3,505,840
Net capital gain (less loss) $162,145
Taxable individual retirement arrangements distributions $1,454,754
Taxable pensions and annuities $5,188,465
Unemployment compensation [3] $934,138
Taxable Social Security benefits $352,618
Self-employment retirement plans $65,189
Total itemized deductions [4] $7,904,538
State and local income taxes $1,049,977
State and local general sales tax $87,603
Real estate taxes $716,711
Taxes paid $1,926,702
Mortgage interest paid $1,934,786
Contributions $655,020
Taxable income $17,693,284
Total tax credits [5] $353,372
Residential energy tax credit $0
Child tax credit $111,760
Child and dependent care credit $37,817
Earned income credit [6] $3,202,656
Excess earned income credit (refundable) [7] $2,840,703
Alternative minimum tax $0
Income tax [8] $1,536,945
Total tax liability [9] $2,130,047
Tax due at time of filing [10] $234,479
Overpayments refunded [11] ($7,746,964)

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

Number of returns [1] 4,348
Number of joint returns 838
Number of returns with paid preparer's signature 1,948
Number of exemptions 8,457
Number of dependents 1,468
Adjust gross income (AGI) [2] $155,757,310
Salaries and wages $128,056,060
Taxable interest $2,838,737
Ordinary dividends $2,773,851
Business or professional net income (less loss) $3,592,722
Net capital gain (less loss) $908,534
Taxable individual retirement arrangements distributions $2,964,600
Taxable pensions and annuities $10,892,731
Unemployment compensation [3] $930,286
Taxable Social Security benefits $4,043,569
Self-employment retirement plans $0
Total itemized deductions [4] $20,778,798
State and local income taxes $2,874,750
State and local general sales tax $123,136
Real estate taxes $2,177,039
Taxes paid $5,405,201
Mortgage interest paid $6,557,721
Contributions $2,460,065
Taxable income $85,338,523
Total tax credits [5] $1,527,719
Residential energy tax credit $0
Child tax credit $912,358
Child and dependent care credit $142,353
Earned income credit [6] $684,349
Excess earned income credit (refundable) [7] $583,069
Alternative minimum tax $0
Income tax [8] $9,300,883
Total tax liability [9] $10,041,991
Tax due at time of filing [10] $836,366
Overpayments refunded [11] ($8,162,299)

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

Number of returns [1] 2,158
Number of joint returns 843
Number of returns with paid preparer's signature 1,030
Number of exemptions 3,948
Number of dependents 558
Adjust gross income (AGI) [2] $132,255,857
Salaries and wages $92,524,432
Taxable interest $3,370,986
Ordinary dividends $4,088,027
Business or professional net income (less loss) $3,718,004
Net capital gain (less loss) $603,656
Taxable individual retirement arrangements distributions $3,773,251
Taxable pensions and annuities $15,265,787
Unemployment compensation [3] $470,065
Taxable Social Security benefits $8,140,916
Self-employment retirement plans $183,832
Total itemized deductions [4] $24,925,352
State and local income taxes $4,698,854
State and local general sales tax $87,189
Real estate taxes $2,888,053
Taxes paid $7,963,454
Mortgage interest paid $8,591,838
Contributions $3,285,486
Taxable income $87,350,106
Total tax credits [5] $836,485
Residential energy tax credit $0
Child tax credit $579,273
Child and dependent care credit $49,807
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $16,212
Income tax [8] $12,031,417
Total tax liability [9] $12,802,398
Tax due at time of filing [10] $1,070,734
Overpayments refunded [11] ($4,064,343)

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

Number of returns [1] 1,397
Number of joint returns 946
Number of returns with paid preparer's signature 684
Number of exemptions 3,139
Number of dependents 438
Adjust gross income (AGI) [2] $121,241,094
Salaries and wages $83,661,567
Taxable interest $3,137,155
Ordinary dividends $4,037,792
Business or professional net income (less loss) $3,211,747
Net capital gain (less loss) $999,249
Taxable individual retirement arrangements distributions $4,238,779
Taxable pensions and annuities $13,251,479
Unemployment compensation [3] $298,129
Taxable Social Security benefits $7,646,528
Self-employment retirement plans $165,529
Total itemized deductions [4] $23,588,797
State and local income taxes $5,438,810
State and local general sales tax $55,449
Real estate taxes $2,822,422
Taxes paid $8,601,729
Mortgage interest paid $8,555,884
Contributions $3,042,673
Taxable income $83,583,782
Total tax credits [5] $771,644
Residential energy tax credit $0
Child tax credit $557,359
Child and dependent care credit $49,792
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $11,850,866
Total tax liability [9] $12,517,993
Tax due at time of filing [10] $858,918
Overpayments refunded [11] ($3,174,918)

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

Number of returns [1] 1,752
Number of joint returns 1,474
Number of returns with paid preparer's signature 912
Number of exemptions 4,588
Number of dependents 766
Adjust gross income (AGI) [2] $235,024,660
Salaries and wages $166,048,183
Taxable interest $5,751,185
Ordinary dividends $8,713,022
Business or professional net income (less loss) $9,350,248
Net capital gain (less loss) $4,555,539
Taxable individual retirement arrangements distributions $7,628,365
Taxable pensions and annuities $17,971,416
Unemployment compensation [3] $257,616
Taxable Social Security benefits $8,564,624
Self-employment retirement plans $1,111,732
Total itemized deductions [4] $48,622,311
State and local income taxes $14,897,619
State and local general sales tax $76,949
Real estate taxes $5,400,707
Taxes paid $20,947,678
Mortgage interest paid $15,876,483
Contributions $7,444,299
Taxable income $169,895,155
Total tax credits [5] $736,373
Residential energy tax credit $0
Child tax credit $427,213
Child and dependent care credit $74,627
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $230,512
Income tax [8] $29,340,381
Total tax liability [9] $31,270,219
Tax due at time of filing [10] $2,614,561
Overpayments refunded [11] ($5,514,378)

Adjusted Gross Income: $200,000 or more

Number of returns [1] 818
Number of joint returns 712
Number of returns with paid preparer's signature 663
Number of exemptions 2,388
Number of dependents 425
Adjust gross income (AGI) [2] $504,364,976
Salaries and wages $177,841,871
Taxable interest $14,135,267
Ordinary dividends $33,106,502
Business or professional net income (less loss) $24,253,573
Net capital gain (less loss) $139,747,716
Taxable individual retirement arrangements distributions $7,607,834
Taxable pensions and annuities $7,451,591
Unemployment compensation [3] $0
Taxable Social Security benefits $3,407,955
Self-employment retirement plans $4,605,016
Total itemized deductions [4] $87,101,656
State and local income taxes $38,200,756
State and local general sales tax $0
Real estate taxes $7,727,162
Taxes paid $45,374,813
Mortgage interest paid $15,749,394
Contributions $21,321,945
Taxable income $410,713,081
Total tax credits [5] $996,002
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $25,516
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $6,282,570
Income tax [8] $101,045,233
Total tax liability [9] $106,049,953
Tax due at time of filing [10] $11,482,937
Overpayments refunded [11] ($6,338,169)

[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.