Home » Florida » HILLSBOROUGH County » ZIP Code 33624 » Tax Stats

33624 Income Tax Overview

Total Number of Tax Returns for ZIP Code 33624 [1]	19,090
Total Number of Joint Tax Returns for ZIP Code 33624	6,666
Total Number of Dependents for ZIP Code 33624	6,456
Total Adjusted Gross Income for ZIP Code 33624	935,192,420
Average Income per Person for ZIP Code 33624	$24,967

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]	3,283
Number of joint returns	289
Number of returns with paid preparer's signature	1,362
Number of exemptions	2,967
Number of dependents	418
Adjust gross income (AGI) [2]	$11,538,800
Salaries and wages	$15,250,850
Taxable interest	$954,512
Ordinary dividends	$507,852
Business or professional net income (less loss)	$1,154,259
Net capital gain (less loss)	($7,634)
Taxable individual retirement arrangements distributions	$374,716
Taxable pensions and annuities	$908,550
Unemployment compensation [3]	$338,577
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,077,635
State and local income taxes	$0
State and local general sales tax	$75,667
Real estate taxes	$663,505
Taxes paid	$753,527
Mortgage interest paid	$2,124,914
Contributions	$76,729
Taxable income	$807,099
Total tax credits [5]	$1,025
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$934,631
Excess earned income credit (refundable) [7]	$732,523
Alternative minimum tax	$0
Income tax [8]	$85,072
Total tax liability [9]	$455,985
Tax due at time of filing [10]	$124,057
Overpayments refunded [11]	($2,303,088)

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

Number of returns [1]	4,196
Number of joint returns	662
Number of returns with paid preparer's signature	1,866
Number of exemptions	6,668
Number of dependents	1,295
Adjust gross income (AGI) [2]	$72,630,242
Salaries and wages	$58,879,690
Taxable interest	$1,636,856
Ordinary dividends	$679,183
Business or professional net income (less loss)	$5,253,091
Net capital gain (less loss)	$26,554
Taxable individual retirement arrangements distributions	$1,303,454
Taxable pensions and annuities	$4,197,666
Unemployment compensation [3]	$1,396,154
Taxable Social Security benefits	$227,642
Self-employment retirement plans	$0
Total itemized deductions [4]	$8,857,513
State and local income taxes	$39,644
State and local general sales tax	$218,416
Real estate taxes	$1,168,224
Taxes paid	$1,455,257
Mortgage interest paid	$4,241,788
Contributions	$551,854
Taxable income	$22,415,262
Total tax credits [5]	$418,130
Residential energy tax credit	$0
Child tax credit	$118,112
Child and dependent care credit	$36,565
Earned income credit [6]	$3,750,204
Excess earned income credit (refundable) [7]	$3,156,717
Alternative minimum tax	$0
Income tax [8]	$2,038,402
Total tax liability [9]	$3,027,687
Tax due at time of filing [10]	$351,245
Overpayments refunded [11]	($8,426,031)

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

Number of returns [1]	5,109
Number of joint returns	1,232
Number of returns with paid preparer's signature	2,173
Number of exemptions	9,119
Number of dependents	1,755
Adjust gross income (AGI) [2]	$185,414,077
Salaries and wages	$162,474,803
Taxable interest	$2,646,597
Ordinary dividends	$1,280,361
Business or professional net income (less loss)	$2,873,877
Net capital gain (less loss)	$566
Taxable individual retirement arrangements distributions	$2,573,406
Taxable pensions and annuities	$10,007,266
Unemployment compensation [3]	$1,148,496
Taxable Social Security benefits	$3,428,641
Self-employment retirement plans	$134,958
Total itemized deductions [4]	$25,452,564
State and local income taxes	$154,918
State and local general sales tax	$931,195
Real estate taxes	$3,228,653
Taxes paid	$4,444,031
Mortgage interest paid	$13,005,236
Contributions	$1,956,170
Taxable income	$103,080,550
Total tax credits [5]	$1,959,736
Residential energy tax credit	$23,938
Child tax credit	$1,099,834
Child and dependent care credit	$198,958
Earned income credit [6]	$903,444
Excess earned income credit (refundable) [7]	$730,468
Alternative minimum tax	$0
Income tax [8]	$11,189,992
Total tax liability [9]	$12,027,188
Tax due at time of filing [10]	$771,602
Overpayments refunded [11]	($10,539,149)

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

Number of returns [1]	2,735
Number of joint returns	1,393
Number of returns with paid preparer's signature	1,230
Number of exemptions	5,943
Number of dependents	1,068
Adjust gross income (AGI) [2]	$167,722,981
Salaries and wages	$141,795,708
Taxable interest	$2,251,755
Ordinary dividends	$1,323,479
Business or professional net income (less loss)	$2,633,463
Net capital gain (less loss)	$536,635
Taxable individual retirement arrangements distributions	$3,294,650
Taxable pensions and annuities	$11,234,282
Unemployment compensation [3]	$699,248
Taxable Social Security benefits	$5,618,011
Self-employment retirement plans	$0
Total itemized deductions [4]	$26,371,139
State and local income taxes	$163,333
State and local general sales tax	$1,350,728
Real estate taxes	$3,362,718
Taxes paid	$4,995,385
Mortgage interest paid	$13,567,792
Contributions	$2,778,151
Taxable income	$108,911,801
Total tax credits [5]	$1,561,946
Residential energy tax credit	$46,226
Child tax credit	$1,099,594
Child and dependent care credit	$115,548
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$32,212
Income tax [8]	$14,349,486
Total tax liability [9]	$15,029,202
Tax due at time of filing [10]	$912,800
Overpayments refunded [11]	($6,499,381)

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

Number of returns [1]	1,608
Number of joint returns	1,218
Number of returns with paid preparer's signature	771
Number of exemptions	4,175
Number of dependents	773
Adjust gross income (AGI) [2]	$139,019,182
Salaries and wages	$115,974,406
Taxable interest	$1,957,511
Ordinary dividends	$1,449,301
Business or professional net income (less loss)	$3,151,072
Net capital gain (less loss)	$3,657
Taxable individual retirement arrangements distributions	$3,223,494
Taxable pensions and annuities	$8,693,733
Unemployment compensation [3]	$448,302
Taxable Social Security benefits	$4,152,310
Self-employment retirement plans	$0
Total itemized deductions [4]	$20,235,558
State and local income taxes	$195,074
State and local general sales tax	$1,030,610
Real estate taxes	$2,675,156
Taxes paid	$4,015,424
Mortgage interest paid	$10,308,605
Contributions	$2,300,531
Taxable income	$97,440,671
Total tax credits [5]	$1,225,905
Residential energy tax credit	$35,123
Child tax credit	$861,405
Child and dependent care credit	$102,526
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$13,561,827
Total tax liability [9]	$14,246,412
Tax due at time of filing [10]	$870,972
Overpayments refunded [11]	($4,475,883)

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

Number of returns [1]	1,824
Number of joint returns	1,583
Number of returns with paid preparer's signature	912
Number of exemptions	5,130
Number of dependents	961
Adjust gross income (AGI) [2]	$238,897,515
Salaries and wages	$197,786,856
Taxable interest	$3,621,752
Ordinary dividends	$2,603,832
Business or professional net income (less loss)	$3,882,372
Net capital gain (less loss)	$2,136,717
Taxable individual retirement arrangements distributions	$6,198,698
Taxable pensions and annuities	$13,441,958
Unemployment compensation [3]	$361,355
Taxable Social Security benefits	$4,224,378
Self-employment retirement plans	$302,666
Total itemized deductions [4]	$30,460,928
State and local income taxes	$489,520
State and local general sales tax	$1,811,260
Real estate taxes	$4,223,627
Taxes paid	$6,677,409
Mortgage interest paid	$15,335,816
Contributions	$4,474,247
Taxable income	$184,078,216
Total tax credits [5]	$833,475
Residential energy tax credit	$16,735
Child tax credit	$586,500
Child and dependent care credit	$108,475
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$100,616
Income tax [8]	$32,681,881
Total tax liability [9]	$33,666,298
Tax due at time of filing [10]	$2,666,616
Overpayments refunded [11]	($4,931,054)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	335
Number of joint returns	289
Number of returns with paid preparer's signature	232
Number of exemptions	983
Number of dependents	186
Adjust gross income (AGI) [2]	$119,969,623
Salaries and wages	$77,068,170
Taxable interest	$3,864,954
Ordinary dividends	$3,351,277
Business or professional net income (less loss)	$3,882,536
Net capital gain (less loss)	$11,538,498
Taxable individual retirement arrangements distributions	$2,004,390
Taxable pensions and annuities	$2,692,991
Unemployment compensation [3]	$81,303
Taxable Social Security benefits	$918,777
Self-employment retirement plans	$328,535
Total itemized deductions [4]	$8,791,173
State and local income taxes	$344,735
State and local general sales tax	$683,466
Real estate taxes	$1,421,675
Taxes paid	$2,511,250
Mortgage interest paid	$3,519,607
Contributions	$1,990,208
Taxable income	$107,643,539
Total tax credits [5]	$222,885
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$13,591
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$291,735
Income tax [8]	$26,816,050
Total tax liability [9]	$27,339,916
Tax due at time of filing [10]	$3,481,255
Overpayments refunded [11]	($1,511,523)

[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.