Home » Florida » PINELLAS County » ZIP Code 34698 » Tax Stats

34698 Income Tax Overview

Total Number of Tax Returns for ZIP Code 34698 [1]	18,385
Total Number of Joint Tax Returns for ZIP Code 34698	6,502
Total Number of Dependents for ZIP Code 34698	4,255
Total Adjusted Gross Income for ZIP Code 34698	948,455,639
Average Income per Person for ZIP Code 34698	$25,469

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]	3,257
Number of joint returns	384
Number of returns with paid preparer's signature	1,383
Number of exemptions	3,392
Number of dependents	324
Adjust gross income (AGI) [2]	$10,415,209
Salaries and wages	$13,499,510
Taxable interest	$1,900,892
Ordinary dividends	$1,126,520
Business or professional net income (less loss)	($271,225)
Net capital gain (less loss)	$1,199,987
Taxable individual retirement arrangements distributions	$1,161,604
Taxable pensions and annuities	$2,255,470
Unemployment compensation [3]	$299,108
Taxable Social Security benefits	$63,084
Self-employment retirement plans	$0
Total itemized deductions [4]	$6,154,715
State and local income taxes	$114,988
State and local general sales tax	$74,821
Real estate taxes	$881,559
Taxes paid	$1,091,825
Mortgage interest paid	$2,793,730
Contributions	$98,040
Taxable income	$527,349
Total tax credits [5]	$1,914
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$731,689
Excess earned income credit (refundable) [7]	$609,708
Alternative minimum tax	$0
Income tax [8]	$49,180
Total tax liability [9]	$429,012
Tax due at time of filing [10]	$131,718
Overpayments refunded [11]	($2,314,529)

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

Number of returns [1]	4,395
Number of joint returns	795
Number of returns with paid preparer's signature	1,952
Number of exemptions	6,326
Number of dependents	824
Adjust gross income (AGI) [2]	$75,091,744
Salaries and wages	$48,922,810
Taxable interest	$4,553,852
Ordinary dividends	$2,320,622
Business or professional net income (less loss)	$3,266,719
Net capital gain (less loss)	($97,616)
Taxable individual retirement arrangements distributions	$3,427,967
Taxable pensions and annuities	$11,051,972
Unemployment compensation [3]	$1,428,197
Taxable Social Security benefits	$577,515
Self-employment retirement plans	$0
Total itemized deductions [4]	$8,091,897
State and local income taxes	$29,627
State and local general sales tax	$261,493
Real estate taxes	$998,537
Taxes paid	$1,313,761
Mortgage interest paid	$2,994,077
Contributions	$601,894
Taxable income	$23,086,846
Total tax credits [5]	$270,040
Residential energy tax credit	$0
Child tax credit	$80,235
Child and dependent care credit	$26,387
Earned income credit [6]	$2,155,568
Excess earned income credit (refundable) [7]	$1,889,251
Alternative minimum tax	$0
Income tax [8]	$2,183,630
Total tax liability [9]	$2,825,601
Tax due at time of filing [10]	$370,875
Overpayments refunded [11]	($6,178,007)

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

Number of returns [1]	4,844
Number of joint returns	1,344
Number of returns with paid preparer's signature	2,164
Number of exemptions	8,065
Number of dependents	1,146
Adjust gross income (AGI) [2]	$175,093,680
Salaries and wages	$128,975,100
Taxable interest	$5,919,814
Ordinary dividends	$3,893,251
Business or professional net income (less loss)	$3,053,671
Net capital gain (less loss)	$228,462
Taxable individual retirement arrangements distributions	$5,137,665
Taxable pensions and annuities	$19,678,745
Unemployment compensation [3]	$1,116,916
Taxable Social Security benefits	$7,070,743
Self-employment retirement plans	$0
Total itemized deductions [4]	$22,241,356
State and local income taxes	$258,514
State and local general sales tax	$752,904
Real estate taxes	$2,520,768
Taxes paid	$3,626,921
Mortgage interest paid	$10,696,915
Contributions	$1,860,560
Taxable income	$99,338,503
Total tax credits [5]	$1,194,939
Residential energy tax credit	$0
Child tax credit	$743,658
Child and dependent care credit	$105,657
Earned income credit [6]	$575,950
Excess earned income credit (refundable) [7]	$467,370
Alternative minimum tax	$0
Income tax [8]	$11,277,707
Total tax liability [9]	$11,982,023
Tax due at time of filing [10]	$849,100
Overpayments refunded [11]	($8,084,714)

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

Number of returns [1]	2,612
Number of joint returns	1,425
Number of returns with paid preparer's signature	1,343
Number of exemptions	5,224
Number of dependents	731
Adjust gross income (AGI) [2]	$160,796,848
Salaries and wages	$110,299,506
Taxable interest	$5,733,947
Ordinary dividends	$4,229,881
Business or professional net income (less loss)	$3,170,994
Net capital gain (less loss)	$648,150
Taxable individual retirement arrangements distributions	$5,018,077
Taxable pensions and annuities	$20,338,188
Unemployment compensation [3]	$718,421
Taxable Social Security benefits	$10,095,290
Self-employment retirement plans	$115,964
Total itemized deductions [4]	$21,400,246
State and local income taxes	$199,211
State and local general sales tax	$889,236
Real estate taxes	$2,548,957
Taxes paid	$3,733,420
Mortgage interest paid	$10,109,987
Contributions	$1,946,628
Taxable income	$107,672,175
Total tax credits [5]	$1,069,830
Residential energy tax credit	$11,729
Child tax credit	$744,356
Child and dependent care credit	$91,226
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$14,474,806
Total tax liability [9]	$15,171,167
Tax due at time of filing [10]	$1,157,327
Overpayments refunded [11]	($4,866,216)

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

Number of returns [1]	1,445
Number of joint returns	1,037
Number of returns with paid preparer's signature	745
Number of exemptions	3,359
Number of dependents	514
Adjust gross income (AGI) [2]	$124,463,985
Salaries and wages	$86,120,001
Taxable interest	$3,393,896
Ordinary dividends	$3,244,011
Business or professional net income (less loss)	$1,675,582
Net capital gain (less loss)	$1,030,267
Taxable individual retirement arrangements distributions	$5,090,483
Taxable pensions and annuities	$14,290,974
Unemployment compensation [3]	$301,166
Taxable Social Security benefits	$6,783,968
Self-employment retirement plans	$0
Total itemized deductions [4]	$16,229,648
State and local income taxes	$232,782
State and local general sales tax	$803,597
Real estate taxes	$2,226,976
Taxes paid	$3,315,833
Mortgage interest paid	$7,448,439
Contributions	$2,116,478
Taxable income	$89,129,043
Total tax credits [5]	$824,464
Residential energy tax credit	$14,651
Child tax credit	$600,768
Child and dependent care credit	$74,725
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$29,291
Income tax [8]	$12,672,060
Total tax liability [9]	$13,099,091
Tax due at time of filing [10]	$909,931
Overpayments refunded [11]	($3,273,665)

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

Number of returns [1]	1,455
Number of joint returns	1,199
Number of returns with paid preparer's signature	812
Number of exemptions	3,631
Number of dependents	546
Adjust gross income (AGI) [2]	$191,284,261
Salaries and wages	$132,302,470
Taxable interest	$5,526,692
Ordinary dividends	$5,934,429
Business or professional net income (less loss)	$4,882,751
Net capital gain (less loss)	$4,030,485
Taxable individual retirement arrangements distributions	$8,019,883
Taxable pensions and annuities	$17,447,201
Unemployment compensation [3]	$144,974
Taxable Social Security benefits	$6,461,358
Self-employment retirement plans	$285,959
Total itemized deductions [4]	$24,837,676
State and local income taxes	$636,809
State and local general sales tax	$1,348,948
Real estate taxes	$3,832,019
Taxes paid	$5,941,797
Mortgage interest paid	$12,283,258
Contributions	$3,823,175
Taxable income	$147,459,820
Total tax credits [5]	$605,212
Residential energy tax credit	$0
Child tax credit	$332,800
Child and dependent care credit	$72,728
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$69,346
Income tax [8]	$26,038,790
Total tax liability [9]	$27,024,112
Tax due at time of filing [10]	$2,492,746
Overpayments refunded [11]	($4,452,292)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	377
Number of joint returns	318
Number of returns with paid preparer's signature	303
Number of exemptions	1,021
Number of dependents	170
Adjust gross income (AGI) [2]	$211,309,912
Salaries and wages	$79,204,314
Taxable interest	$6,867,123
Ordinary dividends	$7,787,639
Business or professional net income (less loss)	$8,199,603
Net capital gain (less loss)	$47,553,275
Taxable individual retirement arrangements distributions	$3,070,825
Taxable pensions and annuities	$3,435,845
Unemployment compensation [3]	$28,029
Taxable Social Security benefits	$1,818,269
Self-employment retirement plans	$327,690
Total itemized deductions [4]	$19,684,371
State and local income taxes	$1,588,916
State and local general sales tax	$681,069
Real estate taxes	$2,903,764
Taxes paid	$5,212,602
Mortgage interest paid	$5,637,950
Contributions	$7,190,054
Taxable income	$188,156,643
Total tax credits [5]	$168,757
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$10,038
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$780,581
Income tax [8]	$47,625,914
Total tax liability [9]	$48,573,835
Tax due at time of filing [10]	$7,590,595
Overpayments refunded [11]	($3,671,941)

[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.