Home » Florida » PASCO County » ZIP Code 34667 » Tax Stats

34667 Income Tax Overview

Total Number of Tax Returns for ZIP Code 34667 [1]	13,994
Total Number of Joint Tax Returns for ZIP Code 34667	6,071
Total Number of Dependents for ZIP Code 34667	3,231
Total Adjusted Gross Income for ZIP Code 34667	558,582,216
Average Income per Person for ZIP Code 34667	$17,377

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]	2,855
Number of joint returns	543
Number of returns with paid preparer's signature	1,309
Number of exemptions	3,776
Number of dependents	485
Adjust gross income (AGI) [2]	$10,274,058
Salaries and wages	$10,029,981
Taxable interest	$1,543,303
Ordinary dividends	$814,584
Business or professional net income (less loss)	$725,566
Net capital gain (less loss)	$430,454
Taxable individual retirement arrangements distributions	$752,550
Taxable pensions and annuities	$2,558,428
Unemployment compensation [3]	$409,759
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,901,344
State and local income taxes	$13,622
State and local general sales tax	$76,983
Real estate taxes	$518,933
Taxes paid	$635,145
Mortgage interest paid	$1,847,338
Contributions	$67,730
Taxable income	$338,167
Total tax credits [5]	$696
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$975,341
Excess earned income credit (refundable) [7]	$821,100
Alternative minimum tax	$0
Income tax [8]	$32,073
Total tax liability [9]	$307,340
Tax due at time of filing [10]	$76,578
Overpayments refunded [11]	($1,916,773)

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

Number of returns [1]	3,897
Number of joint returns	1,144
Number of returns with paid preparer's signature	1,919
Number of exemptions	6,556
Number of dependents	914
Adjust gross income (AGI) [2]	$66,126,774
Salaries and wages	$37,537,535
Taxable interest	$4,293,154
Ordinary dividends	$1,596,543
Business or professional net income (less loss)	$3,118,794
Net capital gain (less loss)	($112,251)
Taxable individual retirement arrangements distributions	$4,157,554
Taxable pensions and annuities	$14,672,632
Unemployment compensation [3]	$1,212,029
Taxable Social Security benefits	$701,725
Self-employment retirement plans	$0
Total itemized deductions [4]	$6,146,032
State and local income taxes	$14,717
State and local general sales tax	$198,612
Real estate taxes	$709,961
Taxes paid	$945,506
Mortgage interest paid	$2,330,182
Contributions	$459,126
Taxable income	$16,255,902
Total tax credits [5]	$159,502
Residential energy tax credit	$0
Child tax credit	$67,910
Child and dependent care credit	$14,868
Earned income credit [6]	$2,709,410
Excess earned income credit (refundable) [7]	$2,344,088
Alternative minimum tax	$0
Income tax [8]	$1,545,395
Total tax liability [9]	$2,103,065
Tax due at time of filing [10]	$231,356
Overpayments refunded [11]	($6,233,862)

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

Number of returns [1]	3,485
Number of joint returns	1,582
Number of returns with paid preparer's signature	1,768
Number of exemptions	6,474
Number of dependents	855
Adjust gross income (AGI) [2]	$125,187,980
Salaries and wages	$74,289,633
Taxable interest	$5,799,810
Ordinary dividends	$2,626,780
Business or professional net income (less loss)	$1,810,401
Net capital gain (less loss)	($14,189)
Taxable individual retirement arrangements distributions	$6,083,900
Taxable pensions and annuities	$26,590,887
Unemployment compensation [3]	$897,039
Taxable Social Security benefits	$7,974,097
Self-employment retirement plans	$47,827
Total itemized deductions [4]	$15,037,931
State and local income taxes	$114,678
State and local general sales tax	$583,814
Real estate taxes	$1,714,552
Taxes paid	$2,478,700
Mortgage interest paid	$6,416,472
Contributions	$1,102,059
Taxable income	$64,549,354
Total tax credits [5]	$713,931
Residential energy tax credit	$15,726
Child tax credit	$476,229
Child and dependent care credit	$54,229
Earned income credit [6]	$526,346
Excess earned income credit (refundable) [7]	$437,621
Alternative minimum tax	$0
Income tax [8]	$7,103,804
Total tax liability [9]	$7,553,194
Tax due at time of filing [10]	$659,047
Overpayments refunded [11]	($6,119,950)

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

Number of returns [1]	1,957
Number of joint returns	1,308
Number of returns with paid preparer's signature	1,095
Number of exemptions	4,097
Number of dependents	487
Adjust gross income (AGI) [2]	$119,646,705
Salaries and wages	$63,124,091
Taxable interest	$5,337,266
Ordinary dividends	$2,592,766
Business or professional net income (less loss)	$1,483,887
Net capital gain (less loss)	$573,427
Taxable individual retirement arrangements distributions	$6,512,078
Taxable pensions and annuities	$27,758,195
Unemployment compensation [3]	$441,415
Taxable Social Security benefits	$12,317,867
Self-employment retirement plans	$0
Total itemized deductions [4]	$14,289,264
State and local income taxes	$172,555
State and local general sales tax	$690,036
Real estate taxes	$1,621,914
Taxes paid	$2,544,087
Mortgage interest paid	$6,556,781
Contributions	$1,343,211
Taxable income	$78,480,707
Total tax credits [5]	$738,584
Residential energy tax credit	$0
Child tax credit	$521,424
Child and dependent care credit	$45,455
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$10,141,847
Total tax liability [9]	$10,504,825
Tax due at time of filing [10]	$869,833
Overpayments refunded [11]	($3,652,429)

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

Number of returns [1]	983
Number of joint returns	812
Number of returns with paid preparer's signature	577
Number of exemptions	2,228
Number of dependents	251
Adjust gross income (AGI) [2]	$84,291,340
Salaries and wages	$43,778,653
Taxable interest	$3,286,228
Ordinary dividends	$1,924,371
Business or professional net income (less loss)	$1,239,179
Net capital gain (less loss)	$994,758
Taxable individual retirement arrangements distributions	$5,492,112
Taxable pensions and annuities	$18,010,146
Unemployment compensation [3]	$210,261
Taxable Social Security benefits	$8,277,142
Self-employment retirement plans	$0
Total itemized deductions [4]	$9,409,623
State and local income taxes	$167,059
State and local general sales tax	$520,611
Real estate taxes	$1,123,579
Taxes paid	$1,869,841
Mortgage interest paid	$4,242,538
Contributions	$1,097,378
Taxable income	$60,861,752
Total tax credits [5]	$392,280
Residential energy tax credit	$0
Child tax credit	$286,686
Child and dependent care credit	$29,733
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$8,470,866
Total tax liability [9]	$8,784,198
Tax due at time of filing [10]	$720,657
Overpayments refunded [11]	($2,088,940)

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

Number of returns [1]	712
Number of joint returns	605
Number of returns with paid preparer's signature	428
Number of exemptions	1,679
Number of dependents	211
Adjust gross income (AGI) [2]	$90,506,530
Salaries and wages	$50,774,904
Taxable interest	$4,164,253
Ordinary dividends	$3,032,964
Business or professional net income (less loss)	$1,387,748
Net capital gain (less loss)	$2,617,127
Taxable individual retirement arrangements distributions	$5,573,262
Taxable pensions and annuities	$15,186,812
Unemployment compensation [3]	$144,506
Taxable Social Security benefits	$5,364,549
Self-employment retirement plans	$0
Total itemized deductions [4]	$10,673,710
State and local income taxes	$394,796
State and local general sales tax	$560,624
Real estate taxes	$1,476,595
Taxes paid	$2,502,274
Mortgage interest paid	$4,867,488
Contributions	$1,290,495
Taxable income	$70,448,049
Total tax credits [5]	$251,147
Residential energy tax credit	$8,683
Child tax credit	$137,392
Child and dependent care credit	$12,589
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$59,028
Income tax [8]	$12,214,203
Total tax liability [9]	$12,495,922
Tax due at time of filing [10]	$1,234,933
Overpayments refunded [11]	($1,990,812)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	105
Number of joint returns	77
Number of returns with paid preparer's signature	85
Number of exemptions	231
Number of dependents	28
Adjust gross income (AGI) [2]	$62,548,829
Salaries and wages	$22,281,233
Taxable interest	$2,698,726
Ordinary dividends	$1,820,391
Business or professional net income (less loss)	$44,824
Net capital gain (less loss)	$10,665,170
Taxable individual retirement arrangements distributions	$1,176,162
Taxable pensions and annuities	$2,886,685
Unemployment compensation [3]	$0
Taxable Social Security benefits	$775,614
Self-employment retirement plans	$0
Total itemized deductions [4]	$5,680,407
State and local income taxes	$545,819
State and local general sales tax	$147,587
Real estate taxes	$739,345
Taxes paid	$2,012,142
Mortgage interest paid	$1,086,431
Contributions	$456,516
Taxable income	$55,914,086
Total tax credits [5]	$26,574
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$255,090
Income tax [8]	$14,112,405
Total tax liability [9]	$14,197,341
Tax due at time of filing [10]	$2,119,255
Overpayments refunded [11]	($383,607)

[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.