Home » South Carolina » LEXINGTON County » ZIP Code 29212 » Tax Stats

29212 Income Tax Overview

Total Number of Tax Returns for ZIP Code 29212 [1]	13,879
Total Number of Joint Tax Returns for ZIP Code 29212	5,632
Total Number of Dependents for ZIP Code 29212	4,676
Total Adjusted Gross Income for ZIP Code 29212	815,326,715
Average Income per Person for ZIP Code 29212	$28,312

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]	2,509
Number of joint returns	148
Number of returns with paid preparer's signature	1,032
Number of exemptions	1,915
Number of dependents	308
Adjust gross income (AGI) [2]	$9,602,819
Salaries and wages	$11,311,187
Taxable interest	$558,117
Ordinary dividends	$283,141
Business or professional net income (less loss)	($191,933)
Net capital gain (less loss)	($17,941)
Taxable individual retirement arrangements distributions	$303,840
Taxable pensions and annuities	$680,367
Unemployment compensation [3]	$171,252
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,686,783
State and local income taxes	$124,047
State and local general sales tax	$21,934
Real estate taxes	$168,009
Taxes paid	$354,925
Mortgage interest paid	$1,036,359
Contributions	$81,498
Taxable income	$775,496
Total tax credits [5]	$1,371
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$697,329
Excess earned income credit (refundable) [7]	$624,594
Alternative minimum tax	$0
Income tax [8]	$77,270
Total tax liability [9]	$239,348
Tax due at time of filing [10]	$80,026
Overpayments refunded [11]	($1,507,048)

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

Number of returns [1]	2,619
Number of joint returns	314
Number of returns with paid preparer's signature	1,275
Number of exemptions	4,063
Number of dependents	812
Adjust gross income (AGI) [2]	$45,321,196
Salaries and wages	$36,560,855
Taxable interest	$936,281
Ordinary dividends	$652,477
Business or professional net income (less loss)	$2,064,517
Net capital gain (less loss)	($28,424)
Taxable individual retirement arrangements distributions	$975,124
Taxable pensions and annuities	$4,051,414
Unemployment compensation [3]	$598,761
Taxable Social Security benefits	$265,852
Self-employment retirement plans	$77,912
Total itemized deductions [4]	$5,201,075
State and local income taxes	$238,207
State and local general sales tax	$58,998
Real estate taxes	$301,812
Taxes paid	$697,628
Mortgage interest paid	$1,691,188
Contributions	$555,436
Taxable income	$14,129,735
Total tax credits [5]	$238,331
Residential energy tax credit	$0
Child tax credit	$77,980
Child and dependent care credit	$34,207
Earned income credit [6]	$2,338,459
Excess earned income credit (refundable) [7]	$2,126,821
Alternative minimum tax	$0
Income tax [8]	$1,298,703
Total tax liability [9]	$1,754,134
Tax due at time of filing [10]	$244,110
Overpayments refunded [11]	($4,974,931)

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

Number of returns [1]	2,962
Number of joint returns	800
Number of returns with paid preparer's signature	1,435
Number of exemptions	5,328
Number of dependents	942
Adjust gross income (AGI) [2]	$107,777,881
Salaries and wages	$86,200,251
Taxable interest	$1,900,270
Ordinary dividends	$1,006,600
Business or professional net income (less loss)	$2,189,979
Net capital gain (less loss)	$132,758
Taxable individual retirement arrangements distributions	$2,405,256
Taxable pensions and annuities	$10,524,488
Unemployment compensation [3]	$646,544
Taxable Social Security benefits	$3,033,977
Self-employment retirement plans	$0
Total itemized deductions [4]	$18,100,419
State and local income taxes	$1,995,004
State and local general sales tax	$139,423
Real estate taxes	$1,167,919
Taxes paid	$3,678,584
Mortgage interest paid	$7,136,198
Contributions	$2,515,360
Taxable income	$58,142,168
Total tax credits [5]	$984,702
Residential energy tax credit	$0
Child tax credit	$563,301
Child and dependent care credit	$111,970
Earned income credit [6]	$539,231
Excess earned income credit (refundable) [7]	$443,142
Alternative minimum tax	$0
Income tax [8]	$6,339,166
Total tax liability [9]	$6,975,899
Tax due at time of filing [10]	$620,607
Overpayments refunded [11]	($5,260,569)

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

Number of returns [1]	2,050
Number of joint returns	1,101
Number of returns with paid preparer's signature	1,022
Number of exemptions	4,524
Number of dependents	791
Adjust gross income (AGI) [2]	$126,812,367
Salaries and wages	$96,305,175
Taxable interest	$2,188,127
Ordinary dividends	$1,819,199
Business or professional net income (less loss)	$3,986,204
Net capital gain (less loss)	$399,805
Taxable individual retirement arrangements distributions	$2,845,363
Taxable pensions and annuities	$13,132,301
Unemployment compensation [3]	$337,642
Taxable Social Security benefits	$5,788,587
Self-employment retirement plans	$225,154
Total itemized deductions [4]	$23,327,897
State and local income taxes	$4,035,512
State and local general sales tax	$79,135
Real estate taxes	$1,387,618
Taxes paid	$6,031,333
Mortgage interest paid	$8,961,204
Contributions	$3,935,975
Taxable income	$80,962,169
Total tax credits [5]	$1,157,616
Residential energy tax credit	$0
Child tax credit	$834,940
Child and dependent care credit	$73,320
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$18,460
Income tax [8]	$10,457,780
Total tax liability [9]	$11,355,188
Tax due at time of filing [10]	$1,086,519
Overpayments refunded [11]	($3,708,647)

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

Number of returns [1]	1,477
Number of joint returns	1,199
Number of returns with paid preparer's signature	745
Number of exemptions	3,819
Number of dependents	644
Adjust gross income (AGI) [2]	$127,999,624
Salaries and wages	$97,797,687
Taxable interest	$1,702,704
Ordinary dividends	$1,373,138
Business or professional net income (less loss)	$3,224,715
Net capital gain (less loss)	$668,369
Taxable individual retirement arrangements distributions	$3,062,136
Taxable pensions and annuities	$13,541,298
Unemployment compensation [3]	$293,968
Taxable Social Security benefits	$5,468,122
Self-employment retirement plans	$0
Total itemized deductions [4]	$23,216,117
State and local income taxes	$4,961,269
State and local general sales tax	$40,250
Real estate taxes	$1,371,790
Taxes paid	$6,927,508
Mortgage interest paid	$8,784,053
Contributions	$4,009,083
Taxable income	$87,432,321
Total tax credits [5]	$1,129,984
Residential energy tax credit	$0
Child tax credit	$767,898
Child and dependent care credit	$88,441
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$11,668,373
Total tax liability [9]	$12,435,467
Tax due at time of filing [10]	$972,111
Overpayments refunded [11]	($3,074,982)

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

Number of returns [1]	1,876
Number of joint returns	1,713
Number of returns with paid preparer's signature	963
Number of exemptions	5,310
Number of dependents	973
Adjust gross income (AGI) [2]	$247,310,061
Salaries and wages	$189,671,787
Taxable interest	$3,759,159
Ordinary dividends	$3,993,405
Business or professional net income (less loss)	$7,855,111
Net capital gain (less loss)	$2,424,489
Taxable individual retirement arrangements distributions	$5,980,241
Taxable pensions and annuities	$21,467,232
Unemployment compensation [3]	$212,731
Taxable Social Security benefits	$6,168,289
Self-employment retirement plans	$610,478
Total itemized deductions [4]	$44,173,176
State and local income taxes	$12,811,487
State and local general sales tax	$69,893
Real estate taxes	$2,671,172
Taxes paid	$16,577,234
Mortgage interest paid	$14,637,019
Contributions	$8,428,055
Taxable income	$182,825,980
Total tax credits [5]	$812,912
Residential energy tax credit	$0
Child tax credit	$507,211
Child and dependent care credit	$89,116
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$120,589
Income tax [8]	$31,605,762
Total tax liability [9]	$33,157,861
Tax due at time of filing [10]	$3,146,132
Overpayments refunded [11]	($3,723,083)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	386
Number of joint returns	357
Number of returns with paid preparer's signature	289
Number of exemptions	1,135
Number of dependents	206
Adjust gross income (AGI) [2]	$150,502,767
Salaries and wages	$85,809,332
Taxable interest	$4,055,394
Ordinary dividends	$4,332,767
Business or professional net income (less loss)	$5,638,724
Net capital gain (less loss)	$13,782,703
Taxable individual retirement arrangements distributions	$1,858,882
Taxable pensions and annuities	$3,927,576
Unemployment compensation [3]	$0
Taxable Social Security benefits	$1,174,751
Self-employment retirement plans	$785,674
Total itemized deductions [4]	$23,981,659
State and local income taxes	$9,669,892
State and local general sales tax	$0
Real estate taxes	$1,471,435
Taxes paid	$11,613,074
Mortgage interest paid	$5,104,570
Contributions	$5,785,165
Taxable income	$123,352,417
Total tax credits [5]	$132,980
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$9,264
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$1,515,580
Income tax [8]	$32,290,212
Total tax liability [9]	$33,109,038
Tax due at time of filing [10]	$3,386,482
Overpayments refunded [11]	($2,335,069)

[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.