Home » Florida » PALM BEACH County » ZIP Code 33432 » Tax Stats

33432 Income Tax Overview

Total Number of Tax Returns for ZIP Code 33432 [1]	9,632
Total Number of Joint Tax Returns for ZIP Code 33432	3,072
Total Number of Dependents for ZIP Code 33432	1,911
Total Adjusted Gross Income for ZIP Code 33432	2,171,158,923
Average Income per Person for ZIP Code 33432	$116,012

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]	1,866
Number of joint returns	271
Number of returns with paid preparer's signature	1,266
Number of exemptions	2,041
Number of dependents	223
Adjust gross income (AGI) [2]	($52,874)
Salaries and wages	$16,515,623
Taxable interest	$20,996,391
Ordinary dividends	$17,420,638
Business or professional net income (less loss)	($2,373,951)
Net capital gain (less loss)	$11,289,483
Taxable individual retirement arrangements distributions	$1,029,233
Taxable pensions and annuities	$1,281,282
Unemployment compensation [3]	$135,798
Taxable Social Security benefits	$87,510
Self-employment retirement plans	$0
Total itemized deductions [4]	$29,570,732
State and local income taxes	$805,929
State and local general sales tax	$163,951
Real estate taxes	$5,484,163
Taxes paid	$6,192,086
Mortgage interest paid	$6,735,562
Contributions	$98,673
Taxable income	$384,705
Total tax credits [5]	$5,111
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$333,183
Excess earned income credit (refundable) [7]	$246,230
Alternative minimum tax	$65,427
Income tax [8]	$85,719
Total tax liability [9]	$1,410,683
Tax due at time of filing [10]	$197,716
Overpayments refunded [11]	($8,454,757)

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

Number of returns [1]	1,771
Number of joint returns	216
Number of returns with paid preparer's signature	1,152
Number of exemptions	2,539
Number of dependents	412
Adjust gross income (AGI) [2]	$30,325,086
Salaries and wages	$21,445,113
Taxable interest	$2,876,092
Ordinary dividends	$2,025,736
Business or professional net income (less loss)	$3,003,859
Net capital gain (less loss)	($286,107)
Taxable individual retirement arrangements distributions	$1,221,818
Taxable pensions and annuities	$1,914,491
Unemployment compensation [3]	$395,632
Taxable Social Security benefits	$442,251
Self-employment retirement plans	$0
Total itemized deductions [4]	$6,677,389
State and local income taxes	$41,109
State and local general sales tax	$127,122
Real estate taxes	$1,143,450
Taxes paid	$1,336,757
Mortgage interest paid	$1,856,893
Contributions	$348,901
Taxable income	$9,358,420
Total tax credits [5]	$183,752
Residential energy tax credit	$0
Child tax credit	$37,724
Child and dependent care credit	$8,335
Earned income credit [6]	$1,071,441
Excess earned income credit (refundable) [7]	$886,246
Alternative minimum tax	$0
Income tax [8]	$849,810
Total tax liability [9]	$1,360,428
Tax due at time of filing [10]	$246,955
Overpayments refunded [11]	($3,086,164)

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

Number of returns [1]	1,857
Number of joint returns	341
Number of returns with paid preparer's signature	1,159
Number of exemptions	2,768
Number of dependents	365
Adjust gross income (AGI) [2]	$66,938,005
Salaries and wages	$48,778,783
Taxable interest	$3,854,489
Ordinary dividends	$3,895,894
Business or professional net income (less loss)	$2,393,984
Net capital gain (less loss)	$581,081
Taxable individual retirement arrangements distributions	$2,383,260
Taxable pensions and annuities	$3,796,829
Unemployment compensation [3]	$488,845
Taxable Social Security benefits	$2,748,816
Self-employment retirement plans	$125,117
Total itemized deductions [4]	$15,167,368
State and local income taxes	$132,609
State and local general sales tax	$398,546
Real estate taxes	$2,692,878
Taxes paid	$3,283,927
Mortgage interest paid	$4,796,603
Contributions	$965,776
Taxable income	$36,735,921
Total tax credits [5]	$446,413
Residential energy tax credit	$0
Child tax credit	$193,086
Child and dependent care credit	$29,661
Earned income credit [6]	$187,683
Excess earned income credit (refundable) [7]	$144,488
Alternative minimum tax	$0
Income tax [8]	$4,172,007
Total tax liability [9]	$4,681,339
Tax due at time of filing [10]	$473,145
Overpayments refunded [11]	($3,712,857)

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

Number of returns [1]	1,036
Number of joint returns	342
Number of returns with paid preparer's signature	695
Number of exemptions	1,670
Number of dependents	183
Adjust gross income (AGI) [2]	$63,291,764
Salaries and wages	$38,000,942
Taxable interest	$5,154,591
Ordinary dividends	$4,444,633
Business or professional net income (less loss)	$1,726,159
Net capital gain (less loss)	$646,433
Taxable individual retirement arrangements distributions	$2,787,874
Taxable pensions and annuities	$5,200,494
Unemployment compensation [3]	$182,381
Taxable Social Security benefits	$5,056,762
Self-employment retirement plans	$0
Total itemized deductions [4]	$19,559,960
State and local income taxes	$189,606
State and local general sales tax	$441,411
Real estate taxes	$3,010,818
Taxes paid	$3,976,307
Mortgage interest paid	$5,269,604
Contributions	$1,191,283
Taxable income	$39,530,718
Total tax credits [5]	$249,659
Residential energy tax credit	$0
Child tax credit	$146,721
Child and dependent care credit	$11,354
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$5,710,980
Total tax liability [9]	$6,160,802
Tax due at time of filing [10]	$590,727
Overpayments refunded [11]	($3,190,363)

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

Number of returns [1]	669
Number of joint returns	315
Number of returns with paid preparer's signature	484
Number of exemptions	1,224
Number of dependents	152
Adjust gross income (AGI) [2]	$57,749,936
Salaries and wages	$31,775,226
Taxable interest	$4,644,302
Ordinary dividends	$5,362,470
Business or professional net income (less loss)	$446,840
Net capital gain (less loss)	$787,533
Taxable individual retirement arrangements distributions	$3,455,425
Taxable pensions and annuities	$5,265,929
Unemployment compensation [3]	$93,096
Taxable Social Security benefits	$4,608,364
Self-employment retirement plans	$0
Total itemized deductions [4]	$12,818,421
State and local income taxes	$284,326
State and local general sales tax	$378,998
Real estate taxes	$2,360,970
Taxes paid	$3,102,661
Mortgage interest paid	$3,963,726
Contributions	$1,395,651
Taxable income	$39,387,496
Total tax credits [5]	$271,203
Residential energy tax credit	$0
Child tax credit	$132,264
Child and dependent care credit	$13,722
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$19,590
Income tax [8]	$5,995,302
Total tax liability [9]	$6,298,648
Tax due at time of filing [10]	$601,684
Overpayments refunded [11]	($2,242,290)

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

Number of returns [1]	1,202
Number of joint returns	714
Number of returns with paid preparer's signature	920
Number of exemptions	2,425
Number of dependents	293
Adjust gross income (AGI) [2]	$167,368,481
Salaries and wages	$76,388,478
Taxable interest	$16,161,894
Ordinary dividends	$18,029,652
Business or professional net income (less loss)	$4,643,116
Net capital gain (less loss)	$4,355,438
Taxable individual retirement arrangements distributions	$13,392,250
Taxable pensions and annuities	$13,495,115
Unemployment compensation [3]	$181,294
Taxable Social Security benefits	$10,662,632
Self-employment retirement plans	$314,765
Total itemized deductions [4]	$30,553,800
State and local income taxes	$1,273,229
State and local general sales tax	$1,196,222
Real estate taxes	$8,727,936
Taxes paid	$10,749,693
Mortgage interest paid	$11,528,571
Contributions	$4,283,083
Taxable income	$118,750,670
Total tax credits [5]	$452,525
Residential energy tax credit	$0
Child tax credit	$114,900
Child and dependent care credit	$19,730
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$511,777
Income tax [8]	$22,154,151
Total tax liability [9]	$23,218,600
Tax due at time of filing [10]	$2,511,701
Overpayments refunded [11]	($7,987,455)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	1,231
Number of joint returns	873
Number of returns with paid preparer's signature	1,105
Number of exemptions	2,621
Number of dependents	283
Adjust gross income (AGI) [2]	$1,785,538,525
Salaries and wages	$346,471,140
Taxable interest	$144,294,178
Ordinary dividends	$284,504,983
Business or professional net income (less loss)	$9,283,467
Net capital gain (less loss)	$662,417,910
Taxable individual retirement arrangements distributions	$27,668,861
Taxable pensions and annuities	$21,408,225
Unemployment compensation [3]	$58,756
Taxable Social Security benefits	$13,925,054
Self-employment retirement plans	$1,593,831
Total itemized deductions [4]	$264,743,048
State and local income taxes	$35,746,588
State and local general sales tax	$2,443,189
Real estate taxes	$31,743,236
Taxes paid	$69,233,243
Mortgage interest paid	$22,562,084
Contributions	$49,784,837
Taxable income	$1,579,230,339
Total tax credits [5]	$11,442,181
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$18,126
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$11,823,892
Income tax [8]	$404,673,719
Total tax liability [9]	$410,290,036
Tax due at time of filing [10]	$33,357,385
Overpayments refunded [11]	($30,281,554)

[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.