CHARLOTTE, NC 28205

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ZIP Code 28205 Income Tax Stats

Individual Income by ZIP Code -- Tax Statistics: 2008



28205 Income Tax Overview

Total Number of Tax Returns for ZIP Code 28205 [1] 19,562
Total Number of Joint Tax Returns for ZIP Code 28205 4,194
Total Number of Dependents for ZIP Code 28205 7,832
Total Adjusted Gross Income for ZIP Code 28205 743,760,047
Average Income per Person for ZIP Code 28205 $16,930

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] 3,577
Number of joint returns 254
Number of returns with paid preparer's signature 2,139
Number of exemptions 5,149
Number of dependents 1,145
Adjust gross income (AGI) [2] $17,103,734
Salaries and wages $15,366,589
Taxable interest $386,338
Ordinary dividends $335,173
Business or professional net income (less loss) $1,710,647
Net capital gain (less loss) ($38,996)
Taxable individual retirement arrangements distributions $315,503
Taxable pensions and annuities $891,866
Unemployment compensation [3] $444,484
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $2,684,262
State and local income taxes $127,291
State and local general sales tax $30,697
Real estate taxes $272,383
Taxes paid $457,765
Mortgage interest paid $1,177,688
Contributions $119,338
Taxable income $398,577
Total tax credits [5] $494
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $2,358,936
Excess earned income credit (refundable) [7] $2,085,949
Alternative minimum tax $0
Income tax [8] $37,281
Total tax liability [9] $533,385
Tax due at time of filing [10] $169,376
Overpayments refunded [11] ($3,471,315)

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

Number of returns [1] 6,372
Number of joint returns 744
Number of returns with paid preparer's signature 4,356
Number of exemptions 13,836
Number of dependents 3,530
Adjust gross income (AGI) [2] $108,784,486
Salaries and wages $93,242,652
Taxable interest $1,025,115
Ordinary dividends $646,671
Business or professional net income (less loss) $7,429,784
Net capital gain (less loss) $46,519
Taxable individual retirement arrangements distributions $1,388,133
Taxable pensions and annuities $3,836,846
Unemployment compensation [3] $2,389,501
Taxable Social Security benefits $211,080
Self-employment retirement plans $26,654
Total itemized deductions [4] $7,735,850
State and local income taxes $457,469
State and local general sales tax $92,168
Real estate taxes $667,174
Taxes paid $1,332,666
Mortgage interest paid $2,648,988
Contributions $954,545
Taxable income $24,323,522
Total tax credits [5] $582,526
Residential energy tax credit $0
Child tax credit $237,529
Child and dependent care credit $61,939
Earned income credit [6] $9,074,086
Excess earned income credit (refundable) [7] $8,181,579
Alternative minimum tax $0
Income tax [8] $2,038,743
Total tax liability [9] $3,363,653
Tax due at time of filing [10] $465,028
Overpayments refunded [11] ($15,968,572)

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

Number of returns [1] 5,371
Number of joint returns 1,065
Number of returns with paid preparer's signature 2,999
Number of exemptions 10,992
Number of dependents 1,993
Adjust gross income (AGI) [2] $190,229,082
Salaries and wages $172,706,716
Taxable interest $1,482,960
Ordinary dividends $1,030,982
Business or professional net income (less loss) $4,270,878
Net capital gain (less loss) $30,160
Taxable individual retirement arrangements distributions $1,866,954
Taxable pensions and annuities $6,229,816
Unemployment compensation [3] $1,604,875
Taxable Social Security benefits $1,926,750
Self-employment retirement plans $129,301
Total itemized deductions [4] $25,244,730
State and local income taxes $3,981,421
State and local general sales tax $90,612
Real estate taxes $2,247,572
Taxes paid $6,516,529
Mortgage interest paid $9,573,139
Contributions $3,067,081
Taxable income $101,597,402
Total tax credits [5] $1,766,641
Residential energy tax credit $4,762
Child tax credit $1,147,487
Child and dependent care credit $147,303
Earned income credit [6] $1,126,772
Excess earned income credit (refundable) [7] $937,022
Alternative minimum tax $0
Income tax [8] $11,233,341
Total tax liability [9] $12,204,041
Tax due at time of filing [10] $900,299
Overpayments refunded [11] ($11,060,980)

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

Number of returns [1] 1,987
Number of joint returns 755
Number of returns with paid preparer's signature 1,004
Number of exemptions 3,673
Number of dependents 504
Adjust gross income (AGI) [2] $120,720,637
Salaries and wages $105,333,550
Taxable interest $1,274,761
Ordinary dividends $1,117,343
Business or professional net income (less loss) $3,272,212
Net capital gain (less loss) $419,279
Taxable individual retirement arrangements distributions $1,517,540
Taxable pensions and annuities $4,898,898
Unemployment compensation [3] $589,756
Taxable Social Security benefits $2,547,799
Self-employment retirement plans $0
Total itemized deductions [4] $21,870,061
State and local income taxes $4,458,331
State and local general sales tax $40,129
Real estate taxes $2,118,283
Taxes paid $6,884,995
Mortgage interest paid $9,066,496
Contributions $2,422,940
Taxable income $79,936,721
Total tax credits [5] $783,024
Residential energy tax credit $0
Child tax credit $564,822
Child and dependent care credit $57,367
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $11,238,381
Total tax liability [9] $11,854,062
Tax due at time of filing [10] $829,543
Overpayments refunded [11] ($4,495,047)

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

Number of returns [1] 972
Number of joint returns 513
Number of returns with paid preparer's signature 489
Number of exemptions 1,895
Number of dependents 265
Adjust gross income (AGI) [2] $83,626,002
Salaries and wages $71,532,886
Taxable interest $880,381
Ordinary dividends $1,092,703
Business or professional net income (less loss) $1,714,656
Net capital gain (less loss) $498,638
Taxable individual retirement arrangements distributions $1,516,818
Taxable pensions and annuities $3,163,307
Unemployment compensation [3] $181,650
Taxable Social Security benefits $1,491,780
Self-employment retirement plans $106,660
Total itemized deductions [4] $17,079,784
State and local income taxes $4,524,578
State and local general sales tax $12,080
Real estate taxes $1,547,421
Taxes paid $6,311,161
Mortgage interest paid $7,165,719
Contributions $1,913,155
Taxable income $58,723,435
Total tax credits [5] $456,578
Residential energy tax credit $0
Child tax credit $291,448
Child and dependent care credit $30,802
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $9,052,505
Total tax liability [9] $9,445,091
Tax due at time of filing [10] $654,551
Overpayments refunded [11] ($2,747,695)

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

Number of returns [1] 999
Number of joint returns 633
Number of returns with paid preparer's signature 501
Number of exemptions 2,083
Number of dependents 283
Adjust gross income (AGI) [2] $134,661,633
Salaries and wages $117,765,013
Taxable interest $1,474,627
Ordinary dividends $1,541,559
Business or professional net income (less loss) $3,502,174
Net capital gain (less loss) $1,844,104
Taxable individual retirement arrangements distributions $1,195,675
Taxable pensions and annuities $2,723,273
Unemployment compensation [3] $206,492
Taxable Social Security benefits $961,252
Self-employment retirement plans $218,043
Total itemized deductions [4] $26,448,957
State and local income taxes $8,210,817
State and local general sales tax $0
Real estate taxes $2,449,249
Taxes paid $10,942,317
Mortgage interest paid $11,472,393
Contributions $2,551,421
Taxable income $100,382,979
Total tax credits [5] $330,018
Residential energy tax credit $0
Child tax credit $167,957
Child and dependent care credit $33,175
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $99,613
Income tax [8] $18,881,212
Total tax liability [9] $19,590,965
Tax due at time of filing [10] $1,237,782
Overpayments refunded [11] ($3,606,122)

Adjusted Gross Income: $200,000 or more

Number of returns [1] 284
Number of joint returns 230
Number of returns with paid preparer's signature 186
Number of exemptions 700
Number of dependents 112
Adjust gross income (AGI) [2] $88,634,473
Salaries and wages $64,760,669
Taxable interest $1,023,907
Ordinary dividends $1,879,435
Business or professional net income (less loss) $3,246,394
Net capital gain (less loss) $5,659,706
Taxable individual retirement arrangements distributions $488,377
Taxable pensions and annuities $1,312,698
Unemployment compensation [3] $0
Taxable Social Security benefits $366,225
Self-employment retirement plans $704,041
Total itemized deductions [4] $16,048,523
State and local income taxes $6,187,393
State and local general sales tax $0
Real estate taxes $1,273,086
Taxes paid $7,578,700
Mortgage interest paid $5,243,527
Contributions $2,686,223
Taxable income $70,453,833
Total tax credits [5] $58,857
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $14,878
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $969,441
Income tax [8] $17,779,044
Total tax liability [9] $18,524,891
Tax due at time of filing [10] $1,528,698
Overpayments refunded [11] ($1,190,192)

[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.