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Home » Florida » PALM BEACH County » ZIP Code 33472 » Tax Stats

33472 Income Tax Overview

Total Number of Tax Returns for ZIP Code 33472 [1]	6,631
Total Number of Joint Tax Returns for ZIP Code 33472	3,376
Total Number of Dependents for ZIP Code 33472	1,659
Total Adjusted Gross Income for ZIP Code 33472	467,227,910
Average Income per Person for ZIP Code 33472	$24,462

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]	1,015
Number of joint returns	164
Number of returns with paid preparer's signature	576
Number of exemptions	962
Number of dependents	80
Adjust gross income (AGI) [2]	$2,772,405
Salaries and wages	$4,062,762
Taxable interest	$757,280
Ordinary dividends	$534,073
Business or professional net income (less loss)	$444,818
Net capital gain (less loss)	($477,564)
Taxable individual retirement arrangements distributions	$593,817
Taxable pensions and annuities	$573,201
Unemployment compensation [3]	$103,546
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,987,403
State and local income taxes	$8,573
State and local general sales tax	$60,334
Real estate taxes	$583,841
Taxes paid	$706,316
Mortgage interest paid	$1,914,682
Contributions	$53,016
Taxable income	$312,707
Total tax credits [5]	$374
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$174,434
Excess earned income credit (refundable) [7]	$123,590
Alternative minimum tax	$0
Income tax [8]	$29,046
Total tax liability [9]	$141,625
Tax due at time of filing [10]	$50,846
Overpayments refunded [11]	($570,193)

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

Number of returns [1]	1,074
Number of joint returns	294
Number of returns with paid preparer's signature	641
Number of exemptions	1,621
Number of dependents	197
Adjust gross income (AGI) [2]	$18,340,052
Salaries and wages	$10,456,959
Taxable interest	$1,943,923
Ordinary dividends	$1,248,380
Business or professional net income (less loss)	$1,120,718
Net capital gain (less loss)	($12,945)
Taxable individual retirement arrangements distributions	$1,654,647
Taxable pensions and annuities	$2,346,591
Unemployment compensation [3]	$315,517
Taxable Social Security benefits	$308,135
Self-employment retirement plans	$0
Total itemized deductions [4]	$5,525,441
State and local income taxes	$16,927
State and local general sales tax	$163,421
Real estate taxes	$783,765
Taxes paid	$971,374
Mortgage interest paid	$1,850,119
Contributions	$269,061
Taxable income	$4,410,610
Total tax credits [5]	$66,283
Residential energy tax credit	$0
Child tax credit	$18,225
Child and dependent care credit	$0
Earned income credit [6]	$486,569
Excess earned income credit (refundable) [7]	$390,967
Alternative minimum tax	$0
Income tax [8]	$383,161
Total tax liability [9]	$601,088
Tax due at time of filing [10]	$101,699
Overpayments refunded [11]	($1,599,981)

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

Number of returns [1]	1,293
Number of joint returns	527
Number of returns with paid preparer's signature	785
Number of exemptions	2,334
Number of dependents	313
Adjust gross income (AGI) [2]	$47,137,749
Salaries and wages	$28,183,712
Taxable interest	$2,873,704
Ordinary dividends	$2,629,518
Business or professional net income (less loss)	$1,561,991
Net capital gain (less loss)	($377,261)
Taxable individual retirement arrangements distributions	$3,228,190
Taxable pensions and annuities	$5,783,572
Unemployment compensation [3]	$384,686
Taxable Social Security benefits	$3,517,042
Self-employment retirement plans	$0
Total itemized deductions [4]	$13,813,667
State and local income taxes	$84,790
State and local general sales tax	$403,903
Real estate taxes	$1,968,953
Taxes paid	$2,499,669
Mortgage interest paid	$4,900,700
Contributions	$802,767
Taxable income	$21,931,699
Total tax credits [5]	$338,105
Residential energy tax credit	$0
Child tax credit	$176,902
Child and dependent care credit	$38,688
Earned income credit [6]	$155,370
Excess earned income credit (refundable) [7]	$125,073
Alternative minimum tax	$0
Income tax [8]	$2,251,407
Total tax liability [9]	$2,552,995
Tax due at time of filing [10]	$284,946
Overpayments refunded [11]	($2,810,592)

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

Number of returns [1]	1,069
Number of joint returns	587
Number of returns with paid preparer's signature	691
Number of exemptions	2,146
Number of dependents	307
Adjust gross income (AGI) [2]	$66,371,383
Salaries and wages	$36,540,248
Taxable interest	$3,308,665
Ordinary dividends	$3,090,425
Business or professional net income (less loss)	$1,392,358
Net capital gain (less loss)	($123,762)
Taxable individual retirement arrangements distributions	$4,678,782
Taxable pensions and annuities	$9,704,226
Unemployment compensation [3]	$325,662
Taxable Social Security benefits	$7,604,914
Self-employment retirement plans	$0
Total itemized deductions [4]	$15,056,748
State and local income taxes	$186,243
State and local general sales tax	$609,923
Real estate taxes	$2,143,823
Taxes paid	$3,001,518
Mortgage interest paid	$6,007,831
Contributions	$1,151,359
Taxable income	$40,591,170
Total tax credits [5]	$457,360
Residential energy tax credit	$0
Child tax credit	$312,624
Child and dependent care credit	$31,806
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$5,222,607
Total tax liability [9]	$5,529,265
Tax due at time of filing [10]	$506,861
Overpayments refunded [11]	($2,581,372)

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

Number of returns [1]	856
Number of joint returns	652
Number of returns with paid preparer's signature	546
Number of exemptions	1,972
Number of dependents	266
Adjust gross income (AGI) [2]	$73,793,349
Salaries and wages	$40,686,701
Taxable interest	$3,679,126
Ordinary dividends	$3,126,420
Business or professional net income (less loss)	$1,298,015
Net capital gain (less loss)	$277,383
Taxable individual retirement arrangements distributions	$5,537,230
Taxable pensions and annuities	$10,821,688
Unemployment compensation [3]	$205,993
Taxable Social Security benefits	$7,787,458
Self-employment retirement plans	$0
Total itemized deductions [4]	$15,480,934
State and local income taxes	$181,833
State and local general sales tax	$622,169
Real estate taxes	$2,132,709
Taxes paid	$2,993,960
Mortgage interest paid	$6,150,108
Contributions	$1,265,586
Taxable income	$49,323,147
Total tax credits [5]	$492,027
Residential energy tax credit	$0
Child tax credit	$299,651
Child and dependent care credit	$31,561
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$6,701,405
Total tax liability [9]	$6,979,040
Tax due at time of filing [10]	$569,656
Overpayments refunded [11]	($2,448,957)

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

Number of returns [1]	1,070
Number of joint returns	933
Number of returns with paid preparer's signature	642
Number of exemptions	2,751
Number of dependents	403
Adjust gross income (AGI) [2]	$142,779,392
Salaries and wages	$80,254,227
Taxable interest	$6,227,830
Ordinary dividends	$6,490,935
Business or professional net income (less loss)	$2,290,361
Net capital gain (less loss)	$1,851,202
Taxable individual retirement arrangements distributions	$12,036,020
Taxable pensions and annuities	$19,430,473
Unemployment compensation [3]	$265,968
Taxable Social Security benefits	$10,465,665
Self-employment retirement plans	$506,088
Total itemized deductions [4]	$22,624,141
State and local income taxes	$542,137
State and local general sales tax	$1,300,368
Real estate taxes	$4,066,279
Taxes paid	$5,983,418
Mortgage interest paid	$10,311,115
Contributions	$2,611,661
Taxable income	$105,881,242
Total tax credits [5]	$476,778
Residential energy tax credit	$0
Child tax credit	$248,674
Child and dependent care credit	$53,815
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$177,867
Income tax [8]	$18,365,040
Total tax liability [9]	$18,853,838
Tax due at time of filing [10]	$1,155,335
Overpayments refunded [11]	($3,685,538)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	254
Number of joint returns	219
Number of returns with paid preparer's signature	199
Number of exemptions	647
Number of dependents	93
Adjust gross income (AGI) [2]	$116,033,580
Salaries and wages	$45,879,060
Taxable interest	$6,800,971
Ordinary dividends	$6,760,910
Business or professional net income (less loss)	$2,046,834
Net capital gain (less loss)	$13,301,703
Taxable individual retirement arrangements distributions	$4,300,422
Taxable pensions and annuities	$3,989,714
Unemployment compensation [3]	$0
Taxable Social Security benefits	$2,464,838
Self-employment retirement plans	$0
Total itemized deductions [4]	$12,695,144
State and local income taxes	$2,504,827
State and local general sales tax	$369,800
Real estate taxes	$1,778,325
Taxes paid	$4,768,141
Mortgage interest paid	$3,762,256
Contributions	$1,545,286
Taxable income	$101,627,193
Total tax credits [5]	$412,497
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$10,163
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$797,969
Income tax [8]	$24,577,321
Total tax liability [9]	$24,890,959
Tax due at time of filing [10]	$4,167,324
Overpayments refunded [11]	($3,158,998)

[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.