Home » Florida » SEMINOLE County » ZIP Code 32714 » Tax Stats

32714 Income Tax Overview

Total Number of Tax Returns for ZIP Code 32714 [1]	17,149
Total Number of Joint Tax Returns for ZIP Code 32714	4,860
Total Number of Dependents for ZIP Code 32714	5,749
Total Adjusted Gross Income for ZIP Code 32714	769,693,602
Average Income per Person for ZIP Code 32714	$22,078

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]	2,966
Number of joint returns	279
Number of returns with paid preparer's signature	1,331
Number of exemptions	3,166
Number of dependents	489
Adjust gross income (AGI) [2]	$11,164,808
Salaries and wages	$15,164,346
Taxable interest	$1,163,398
Ordinary dividends	$587,760
Business or professional net income (less loss)	$1,334,093
Net capital gain (less loss)	$883,759
Taxable individual retirement arrangements distributions	$388,385
Taxable pensions and annuities	$1,011,709
Unemployment compensation [3]	$466,805
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,542,397
State and local income taxes	$12,090
State and local general sales tax	$65,708
Real estate taxes	$594,658
Taxes paid	$725,279
Mortgage interest paid	$2,353,046
Contributions	$79,579
Taxable income	$580,374
Total tax credits [5]	$1,476
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$1,088,430
Excess earned income credit (refundable) [7]	$900,667
Alternative minimum tax	$0
Income tax [8]	$56,094
Total tax liability [9]	$404,332
Tax due at time of filing [10]	$100,044
Overpayments refunded [11]	($2,565,247)

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

Number of returns [1]	4,583
Number of joint returns	640
Number of returns with paid preparer's signature	2,210
Number of exemptions	7,580
Number of dependents	1,590
Adjust gross income (AGI) [2]	$79,633,357
Salaries and wages	$67,478,644
Taxable interest	$1,246,515
Ordinary dividends	$601,115
Business or professional net income (less loss)	$4,611,561
Net capital gain (less loss)	($39,451)
Taxable individual retirement arrangements distributions	$1,205,354
Taxable pensions and annuities	$3,722,966
Unemployment compensation [3]	$1,584,572
Taxable Social Security benefits	$277,500
Self-employment retirement plans	$0
Total itemized deductions [4]	$6,871,029
State and local income taxes	$40,224
State and local general sales tax	$181,252
Real estate taxes	$729,674
Taxes paid	$992,663
Mortgage interest paid	$3,213,058
Contributions	$562,058
Taxable income	$24,452,137
Total tax credits [5]	$492,895
Residential energy tax credit	$0
Child tax credit	$143,172
Child and dependent care credit	$56,700
Earned income credit [6]	$4,503,981
Excess earned income credit (refundable) [7]	$3,916,793
Alternative minimum tax	$7,154
Income tax [8]	$2,173,071
Total tax liability [9]	$3,032,576
Tax due at time of filing [10]	$268,234
Overpayments refunded [11]	($9,455,033)

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

Number of returns [1]	5,243
Number of joint returns	1,206
Number of returns with paid preparer's signature	2,276
Number of exemptions	9,303
Number of dependents	1,772
Adjust gross income (AGI) [2]	$187,927,474
Salaries and wages	$169,535,464
Taxable interest	$2,040,650
Ordinary dividends	$1,206,027
Business or professional net income (less loss)	$2,720,296
Net capital gain (less loss)	($44,581)
Taxable individual retirement arrangements distributions	$2,333,651
Taxable pensions and annuities	$7,768,389
Unemployment compensation [3]	$1,389,556
Taxable Social Security benefits	$2,676,016
Self-employment retirement plans	$0
Total itemized deductions [4]	$21,061,581
State and local income taxes	$115,411
State and local general sales tax	$758,503
Real estate taxes	$1,959,581
Taxes paid	$2,934,290
Mortgage interest paid	$10,183,073
Contributions	$2,172,871
Taxable income	$106,600,517
Total tax credits [5]	$2,016,430
Residential energy tax credit	$0
Child tax credit	$1,169,763
Child and dependent care credit	$185,966
Earned income credit [6]	$1,085,303
Excess earned income credit (refundable) [7]	$898,217
Alternative minimum tax	$0
Income tax [8]	$11,650,490
Total tax liability [9]	$12,360,547
Tax due at time of filing [10]	$619,899
Overpayments refunded [11]	($10,688,682)

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

Number of returns [1]	2,076
Number of joint returns	964
Number of returns with paid preparer's signature	948
Number of exemptions	4,394
Number of dependents	789
Adjust gross income (AGI) [2]	$126,320,354
Salaries and wages	$106,003,497
Taxable interest	$1,945,627
Ordinary dividends	$1,244,279
Business or professional net income (less loss)	$1,826,173
Net capital gain (less loss)	$240,884
Taxable individual retirement arrangements distributions	$2,671,431
Taxable pensions and annuities	$7,459,602
Unemployment compensation [3]	$502,378
Taxable Social Security benefits	$4,095,895
Self-employment retirement plans	$90,589
Total itemized deductions [4]	$17,362,402
State and local income taxes	$152,332
State and local general sales tax	$813,277
Real estate taxes	$1,718,920
Taxes paid	$2,734,925
Mortgage interest paid	$8,764,747
Contributions	$1,992,961
Taxable income	$83,836,218
Total tax credits [5]	$1,125,787
Residential energy tax credit	$22,448
Child tax credit	$843,081
Child and dependent care credit	$70,791
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$11,307,036
Total tax liability [9]	$11,812,770
Tax due at time of filing [10]	$746,167
Overpayments refunded [11]	($4,632,258)

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

Number of returns [1]	994
Number of joint returns	706
Number of returns with paid preparer's signature	453
Number of exemptions	2,507
Number of dependents	460
Adjust gross income (AGI) [2]	$85,143,347
Salaries and wages	$71,304,782
Taxable interest	$1,365,880
Ordinary dividends	$837,918
Business or professional net income (less loss)	$1,971,901
Net capital gain (less loss)	$345,815
Taxable individual retirement arrangements distributions	$2,114,004
Taxable pensions and annuities	$4,338,885
Unemployment compensation [3]	$191,222
Taxable Social Security benefits	$2,268,823
Self-employment retirement plans	$0
Total itemized deductions [4]	$11,836,502
State and local income taxes	$96,324
State and local general sales tax	$566,969
Real estate taxes	$1,306,629
Taxes paid	$2,019,790
Mortgage interest paid	$5,782,433
Contributions	$1,553,530
Taxable income	$60,166,470
Total tax credits [5]	$724,504
Residential energy tax credit	$0
Child tax credit	$524,587
Child and dependent care credit	$52,546
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$21,204
Income tax [8]	$8,543,688
Total tax liability [9]	$8,958,533
Tax due at time of filing [10]	$556,024
Overpayments refunded [11]	($2,611,786)

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

Number of returns [1]	980
Number of joint returns	797
Number of returns with paid preparer's signature	538
Number of exemptions	2,630
Number of dependents	473
Adjust gross income (AGI) [2]	$128,619,142
Salaries and wages	$101,849,142
Taxable interest	$2,402,725
Ordinary dividends	$2,424,003
Business or professional net income (less loss)	$2,875,427
Net capital gain (less loss)	$1,118,202
Taxable individual retirement arrangements distributions	$2,948,265
Taxable pensions and annuities	$7,721,197
Unemployment compensation [3]	$170,076
Taxable Social Security benefits	$3,220,203
Self-employment retirement plans	$172,336
Total itemized deductions [4]	$17,878,261
State and local income taxes	$284,357
State and local general sales tax	$1,035,572
Real estate taxes	$2,189,439
Taxes paid	$3,580,255
Mortgage interest paid	$8,795,075
Contributions	$3,227,977
Taxable income	$98,454,410
Total tax credits [5]	$477,567
Residential energy tax credit	$0
Child tax credit	$288,366
Child and dependent care credit	$49,900
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$71,624
Income tax [8]	$17,565,323
Total tax liability [9]	$18,229,840
Tax due at time of filing [10]	$1,386,985
Overpayments refunded [11]	($2,989,771)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	307
Number of joint returns	268
Number of returns with paid preparer's signature	238
Number of exemptions	921
Number of dependents	176
Adjust gross income (AGI) [2]	$150,885,120
Salaries and wages	$71,621,115
Taxable interest	$5,843,067
Ordinary dividends	$3,265,393
Business or professional net income (less loss)	$1,996,162
Net capital gain (less loss)	$37,663,956
Taxable individual retirement arrangements distributions	$2,191,288
Taxable pensions and annuities	$2,610,662
Unemployment compensation [3]	$0
Taxable Social Security benefits	$1,078,629
Self-employment retirement plans	$435,410
Total itemized deductions [4]	$15,554,406
State and local income taxes	$491,236
State and local general sales tax	$617,659
Real estate taxes	$1,961,198
Taxes paid	$3,160,012
Mortgage interest paid	$5,008,271
Contributions	$3,398,295
Taxable income	$132,306,294
Total tax credits [5]	$188,498
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$12,084
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$357,436
Income tax [8]	$32,904,948
Total tax liability [9]	$33,300,334
Tax due at time of filing [10]	$3,840,112
Overpayments refunded [11]	($1,987,631)

[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.