Home » North Carolina » WAKE County » ZIP Code 27617 » Tax Stats

27617 Income Tax Overview

Total Number of Tax Returns for ZIP Code 27617 [1]	7,515
Total Number of Joint Tax Returns for ZIP Code 27617	2,631
Total Number of Dependents for ZIP Code 27617	2,154
Total Adjusted Gross Income for ZIP Code 27617	561,490,135
Average Income per Person for ZIP Code 27617	$36,943

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]	858
Number of joint returns	60
Number of returns with paid preparer's signature	333
Number of exemptions	645
Number of dependents	64
Adjust gross income (AGI) [2]	$2,727,749
Salaries and wages	$4,764,465
Taxable interest	$369,105
Ordinary dividends	$262,393
Business or professional net income (less loss)	$166,684
Net capital gain (less loss)	($22,182)
Taxable individual retirement arrangements distributions	$194,232
Taxable pensions and annuities	$155,325
Unemployment compensation [3]	$64,111
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,747,430
State and local income taxes	$128,495
State and local general sales tax	$10,899
Real estate taxes	$181,068
Taxes paid	$352,451
Mortgage interest paid	$785,993
Contributions	$48,855
Taxable income	$238,556
Total tax credits [5]	$1,488
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$141,623
Excess earned income credit (refundable) [7]	$114,416
Alternative minimum tax	$0
Income tax [8]	$28,881
Total tax liability [9]	$106,803
Tax due at time of filing [10]	$30,419
Overpayments refunded [11]	($620,783)

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

Number of returns [1]	1,020
Number of joint returns	122
Number of returns with paid preparer's signature	435
Number of exemptions	1,432
Number of dependents	229
Adjust gross income (AGI) [2]	$17,930,842
Salaries and wages	$15,947,381
Taxable interest	$336,520
Ordinary dividends	$266,824
Business or professional net income (less loss)	$889,999
Net capital gain (less loss)	$4,511
Taxable individual retirement arrangements distributions	$333,509
Taxable pensions and annuities	$1,052,567
Unemployment compensation [3]	$207,815
Taxable Social Security benefits	$47,887
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,696,359
State and local income taxes	$166,720
State and local general sales tax	$26,875
Real estate taxes	$257,840
Taxes paid	$477,552
Mortgage interest paid	$1,077,197
Contributions	$190,639
Taxable income	$6,602,730
Total tax credits [5]	$122,518
Residential energy tax credit	$0
Child tax credit	$19,925
Child and dependent care credit	$10,629
Earned income credit [6]	$642,263
Excess earned income credit (refundable) [7]	$565,068
Alternative minimum tax	$0
Income tax [8]	$605,896
Total tax liability [9]	$814,465
Tax due at time of filing [10]	$115,478
Overpayments refunded [11]	($1,862,319)

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

Number of returns [1]	1,832
Number of joint returns	267
Number of returns with paid preparer's signature	630
Number of exemptions	2,636
Number of dependents	343
Adjust gross income (AGI) [2]	$68,472,653
Salaries and wages	$63,271,783
Taxable interest	$856,993
Ordinary dividends	$387,009
Business or professional net income (less loss)	$584,350
Net capital gain (less loss)	($14,169)
Taxable individual retirement arrangements distributions	$911,422
Taxable pensions and annuities	$2,364,635
Unemployment compensation [3]	$505,956
Taxable Social Security benefits	$769,300
Self-employment retirement plans	$65,446
Total itemized deductions [4]	$9,014,778
State and local income taxes	$1,189,374
State and local general sales tax	$39,980
Real estate taxes	$888,862
Taxes paid	$2,220,521
Mortgage interest paid	$3,632,617
Contributions	$876,158
Taxable income	$42,583,151
Total tax credits [5]	$548,825
Residential energy tax credit	$0
Child tax credit	$231,457
Child and dependent care credit	$46,400
Earned income credit [6]	$146,532
Excess earned income credit (refundable) [7]	$118,675
Alternative minimum tax	$0
Income tax [8]	$5,116,370
Total tax liability [9]	$5,338,384
Tax due at time of filing [10]	$283,662
Overpayments refunded [11]	($3,216,034)

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

Number of returns [1]	1,251
Number of joint returns	354
Number of returns with paid preparer's signature	495
Number of exemptions	2,089
Number of dependents	301
Adjust gross income (AGI) [2]	$77,006,592
Salaries and wages	$69,873,906
Taxable interest	$704,713
Ordinary dividends	$682,988
Business or professional net income (less loss)	$1,268,236
Net capital gain (less loss)	$25,677
Taxable individual retirement arrangements distributions	$901,920
Taxable pensions and annuities	$2,905,957
Unemployment compensation [3]	$306,242
Taxable Social Security benefits	$1,108,058
Self-employment retirement plans	$0
Total itemized deductions [4]	$12,930,879
State and local income taxes	$2,540,218
State and local general sales tax	$24,165
Real estate taxes	$1,251,401
Taxes paid	$3,951,386
Mortgage interest paid	$5,749,701
Contributions	$1,186,544
Taxable income	$53,030,281
Total tax credits [5]	$492,912
Residential energy tax credit	$0
Child tax credit	$307,457
Child and dependent care credit	$34,078
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$20,297
Income tax [8]	$7,881,460
Total tax liability [9]	$8,213,350
Tax due at time of filing [10]	$383,458
Overpayments refunded [11]	($3,007,892)

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

Number of returns [1]	856
Number of joint returns	487
Number of returns with paid preparer's signature	341
Number of exemptions	1,909
Number of dependents	327
Adjust gross income (AGI) [2]	$74,405,021
Salaries and wages	$65,662,547
Taxable interest	$701,745
Ordinary dividends	$545,743
Business or professional net income (less loss)	$1,340,196
Net capital gain (less loss)	$312,467
Taxable individual retirement arrangements distributions	$835,536
Taxable pensions and annuities	$3,189,509
Unemployment compensation [3]	$194,629
Taxable Social Security benefits	$1,297,887
Self-employment retirement plans	$0
Total itemized deductions [4]	$14,044,907
State and local income taxes	$3,350,929
State and local general sales tax	$35,490
Real estate taxes	$1,475,156
Taxes paid	$5,017,019
Mortgage interest paid	$6,341,766
Contributions	$1,323,532
Taxable income	$52,000,062
Total tax credits [5]	$553,079
Residential energy tax credit	$0
Child tax credit	$415,578
Child and dependent care credit	$44,746
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$7,848,656
Total tax liability [9]	$8,183,778
Tax due at time of filing [10]	$380,300
Overpayments refunded [11]	($2,370,441)

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

Number of returns [1]	1,299
Number of joint returns	997
Number of returns with paid preparer's signature	571
Number of exemptions	3,455
Number of dependents	652
Adjust gross income (AGI) [2]	$176,407,335
Salaries and wages	$156,860,277
Taxable interest	$2,093,538
Ordinary dividends	$1,803,940
Business or professional net income (less loss)	$2,637,874
Net capital gain (less loss)	$1,240,665
Taxable individual retirement arrangements distributions	$2,203,636
Taxable pensions and annuities	$5,755,191
Unemployment compensation [3]	$339,109
Taxable Social Security benefits	$1,382,174
Self-employment retirement plans	$242,097
Total itemized deductions [4]	$37,121,767
State and local income taxes	$10,438,818
State and local general sales tax	$65,397
Real estate taxes	$4,073,479
Taxes paid	$14,957,061
Mortgage interest paid	$15,904,850
Contributions	$3,607,769
Taxable income	$126,502,426
Total tax credits [5]	$587,486
Residential energy tax credit	$0
Child tax credit	$372,495
Child and dependent care credit	$74,589
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$232,474
Income tax [8]	$22,909,379
Total tax liability [9]	$23,482,313
Tax due at time of filing [10]	$1,246,006
Overpayments refunded [11]	($4,725,769)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	399
Number of joint returns	344
Number of returns with paid preparer's signature	254
Number of exemptions	1,191
Number of dependents	238
Adjust gross income (AGI) [2]	$144,539,943
Salaries and wages	$108,585,867
Taxable interest	$2,125,496
Ordinary dividends	$2,023,202
Business or professional net income (less loss)	$4,407,503
Net capital gain (less loss)	$8,178,659
Taxable individual retirement arrangements distributions	$937,628
Taxable pensions and annuities	$2,034,975
Unemployment compensation [3]	$0
Taxable Social Security benefits	$246,156
Self-employment retirement plans	$1,097,801
Total itemized deductions [4]	$24,320,376
State and local income taxes	$9,576,897
State and local general sales tax	$0
Real estate taxes	$2,497,465
Taxes paid	$12,259,487
Mortgage interest paid	$9,293,463
Contributions	$2,652,142
Taxable income	$116,636,085
Total tax credits [5]	$416,523
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$27,200
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$1,730,007
Income tax [8]	$30,694,111
Total tax liability [9]	$31,371,405
Tax due at time of filing [10]	$3,586,394
Overpayments refunded [11]	($1,901,920)

[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.