Home » South Carolina » ORANGEBURG County » ZIP Code 29118 » Tax Stats

29118 Income Tax Overview

Total Number of Tax Returns for ZIP Code 29118 [1]	6,458
Total Number of Joint Tax Returns for ZIP Code 29118	2,124
Total Number of Dependents for ZIP Code 29118	2,830
Total Adjusted Gross Income for ZIP Code 29118	322,966,758
Average Income per Person for ZIP Code 29118	$20,362

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]	1,307
Number of joint returns	88
Number of returns with paid preparer's signature	824
Number of exemptions	1,359
Number of dependents	312
Adjust gross income (AGI) [2]	$5,738,145
Salaries and wages	$6,771,236
Taxable interest	$391,096
Ordinary dividends	$232,348
Business or professional net income (less loss)	($270,560)
Net capital gain (less loss)	$479,540
Taxable individual retirement arrangements distributions	$87,303
Taxable pensions and annuities	$403,966
Unemployment compensation [3]	$192,981
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$995,909
State and local income taxes	$150,171
State and local general sales tax	$6,536
Real estate taxes	$94,719
Taxes paid	$275,386
Mortgage interest paid	$243,090
Contributions	$27,386
Taxable income	$361,076
Total tax credits [5]	$444
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$695,953
Excess earned income credit (refundable) [7]	$655,251
Alternative minimum tax	$0
Income tax [8]	$35,213
Total tax liability [9]	$126,186
Tax due at time of filing [10]	$41,817
Overpayments refunded [11]	($1,518,243)

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

Number of returns [1]	1,599
Number of joint returns	213
Number of returns with paid preparer's signature	1,065
Number of exemptions	2,996
Number of dependents	791
Adjust gross income (AGI) [2]	$27,166,134
Salaries and wages	$22,037,229
Taxable interest	$363,111
Ordinary dividends	$184,205
Business or professional net income (less loss)	$668,082
Net capital gain (less loss)	$146,482
Taxable individual retirement arrangements distributions	$592,846
Taxable pensions and annuities	$2,999,144
Unemployment compensation [3]	$556,407
Taxable Social Security benefits	$170,604
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,302,051
State and local income taxes	$90,501
State and local general sales tax	$30,628
Real estate taxes	$100,285
Taxes paid	$293,075
Mortgage interest paid	$750,468
Contributions	$398,573
Taxable income	$6,345,902
Total tax credits [5]	$162,487
Residential energy tax credit	$0
Child tax credit	$77,747
Child and dependent care credit	$23,327
Earned income credit [6]	$2,259,982
Excess earned income credit (refundable) [7]	$2,135,036
Alternative minimum tax	$0
Income tax [8]	$513,384
Total tax liability [9]	$704,672
Tax due at time of filing [10]	$109,275
Overpayments refunded [11]	($3,926,633)

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

Number of returns [1]	1,625
Number of joint returns	404
Number of returns with paid preparer's signature	1,017
Number of exemptions	3,307
Number of dependents	766
Adjust gross income (AGI) [2]	$58,326,707
Salaries and wages	$49,075,213
Taxable interest	$809,906
Ordinary dividends	$462,115
Business or professional net income (less loss)	$197,547
Net capital gain (less loss)	$199,931
Taxable individual retirement arrangements distributions	$893,766
Taxable pensions and annuities	$5,462,314
Unemployment compensation [3]	$351,542
Taxable Social Security benefits	$1,347,343
Self-employment retirement plans	$58,406
Total itemized deductions [4]	$9,367,144
State and local income taxes	$1,006,165
State and local general sales tax	$48,669
Real estate taxes	$486,415
Taxes paid	$1,813,337
Mortgage interest paid	$3,188,704
Contributions	$1,829,091
Taxable income	$29,474,860
Total tax credits [5]	$743,609
Residential energy tax credit	$0
Child tax credit	$457,257
Child and dependent care credit	$81,397
Earned income credit [6]	$490,736
Excess earned income credit (refundable) [7]	$422,604
Alternative minimum tax	$0
Income tax [8]	$2,890,555
Total tax liability [9]	$3,173,456
Tax due at time of filing [10]	$308,192
Overpayments refunded [11]	($3,451,627)

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

Number of returns [1]	764
Number of joint returns	424
Number of returns with paid preparer's signature	479
Number of exemptions	1,812
Number of dependents	375
Adjust gross income (AGI) [2]	$46,877,153
Salaries and wages	$36,462,675
Taxable interest	$880,845
Ordinary dividends	$504,646
Business or professional net income (less loss)	$16,064
Net capital gain (less loss)	$404,719
Taxable individual retirement arrangements distributions	$833,979
Taxable pensions and annuities	$4,741,578
Unemployment compensation [3]	$182,989
Taxable Social Security benefits	$2,415,713
Self-employment retirement plans	$0
Total itemized deductions [4]	$8,861,806
State and local income taxes	$1,331,978
State and local general sales tax	$27,776
Real estate taxes	$457,132
Taxes paid	$2,075,768
Mortgage interest paid	$2,948,341
Contributions	$1,935,500
Taxable income	$28,788,489
Total tax credits [5]	$530,714
Residential energy tax credit	$0
Child tax credit	$387,601
Child and dependent care credit	$49,708
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$3,455,466
Total tax liability [9]	$3,596,656
Tax due at time of filing [10]	$334,462
Overpayments refunded [11]	($1,543,878)

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

Number of returns [1]	498
Number of joint returns	394
Number of returns with paid preparer's signature	326
Number of exemptions	1,339
Number of dependents	250
Adjust gross income (AGI) [2]	$42,708,881
Salaries and wages	$32,596,407
Taxable interest	$739,081
Ordinary dividends	$404,327
Business or professional net income (less loss)	$710,886
Net capital gain (less loss)	$566,993
Taxable individual retirement arrangements distributions	$1,028,651
Taxable pensions and annuities	$4,193,048
Unemployment compensation [3]	$53,505
Taxable Social Security benefits	$1,998,950
Self-employment retirement plans	$90,982
Total itemized deductions [4]	$8,286,197
State and local income taxes	$1,652,545
State and local general sales tax	$11,299
Real estate taxes	$517,447
Taxes paid	$2,435,881
Mortgage interest paid	$2,580,674
Contributions	$1,995,849
Taxable income	$28,496,172
Total tax credits [5]	$432,143
Residential energy tax credit	$0
Child tax credit	$277,720
Child and dependent care credit	$47,800
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$3,707,277
Total tax liability [9]	$3,895,934
Tax due at time of filing [10]	$373,177
Overpayments refunded [11]	($1,020,765)

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

Number of returns [1]	510
Number of joint returns	461
Number of returns with paid preparer's signature	329
Number of exemptions	1,436
Number of dependents	267
Adjust gross income (AGI) [2]	$67,473,639
Salaries and wages	$50,713,000
Taxable interest	$1,020,593
Ordinary dividends	$1,085,626
Business or professional net income (less loss)	$756,581
Net capital gain (less loss)	$1,520,050
Taxable individual retirement arrangements distributions	$1,734,850
Taxable pensions and annuities	$5,790,322
Unemployment compensation [3]	$80,532
Taxable Social Security benefits	$2,210,068
Self-employment retirement plans	$0
Total itemized deductions [4]	$12,957,496
State and local income taxes	$3,331,150
State and local general sales tax	$28,043
Real estate taxes	$852,768
Taxes paid	$4,607,369
Mortgage interest paid	$3,738,840
Contributions	$3,004,157
Taxable income	$48,924,163
Total tax credits [5]	$229,885
Residential energy tax credit	$0
Child tax credit	$146,050
Child and dependent care credit	$37,117
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$53,537
Income tax [8]	$8,324,403
Total tax liability [9]	$8,594,280
Tax due at time of filing [10]	$961,599
Overpayments refunded [11]	($1,402,475)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	155
Number of joint returns	140
Number of returns with paid preparer's signature	140
Number of exemptions	427
Number of dependents	69
Adjust gross income (AGI) [2]	$74,676,099
Salaries and wages	$36,452,092
Taxable interest	$1,894,822
Ordinary dividends	$2,468,375
Business or professional net income (less loss)	$3,122,380
Net capital gain (less loss)	$11,024,363
Taxable individual retirement arrangements distributions	$854,173
Taxable pensions and annuities	$2,265,715
Unemployment compensation [3]	$0
Taxable Social Security benefits	$747,741
Self-employment retirement plans	$370,613
Total itemized deductions [4]	$9,797,357
State and local income taxes	$3,793,360
State and local general sales tax	$0
Real estate taxes	$831,573
Taxes paid	$4,804,664
Mortgage interest paid	$1,755,090
Contributions	$2,942,960
Taxable income	$63,600,896
Total tax credits [5]	$97,689
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	$573,371
Income tax [8]	$16,506,539
Total tax liability [9]	$16,852,371
Tax due at time of filing [10]	$2,157,129
Overpayments refunded [11]	($807,641)

[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.