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Home » Mississippi » LAFAYETTE County » ABBEVILLE, MS » ZIP Code 38601 » Tax Stats

38601 Income Tax Overview

Total Number of Tax Returns for ZIP Code 38601 [1]	987
Total Number of Joint Tax Returns for ZIP Code 38601	295
Total Number of Dependents for ZIP Code 38601	502
Total Adjusted Gross Income for ZIP Code 38601	29,824,968
Average Income per Person for ZIP Code 38601	$12,579

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]	213
Number of joint returns	20
Number of returns with paid preparer's signature	125
Number of exemptions	270
Number of dependents	64
Adjust gross income (AGI) [2]	$937,272
Salaries and wages	$1,032,498
Taxable interest	$8,795
Ordinary dividends	$0
Business or professional net income (less loss)	($42,825)
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$22,979
Taxable pensions and annuities	$80,364
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$0
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$0
Mortgage interest paid	$0
Contributions	$0
Taxable income	$46,805
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$155,076
Excess earned income credit (refundable) [7]	$140,348
Alternative minimum tax	$0
Income tax [8]	$4,224
Total tax liability [9]	$31,156
Tax due at time of filing [10]	$4,883
Overpayments refunded [11]	($213,036)

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

Number of returns [1]	340
Number of joint returns	49
Number of returns with paid preparer's signature	256
Number of exemptions	699
Number of dependents	205
Adjust gross income (AGI) [2]	$5,817,999
Salaries and wages	$4,931,116
Taxable interest	$51,470
Ordinary dividends	$10,879
Business or professional net income (less loss)	$217,248
Net capital gain (less loss)	($740)
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$455,656
Unemployment compensation [3]	$110,573
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$373,164
State and local income taxes	$12,427
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$34,094
Mortgage interest paid	$95,237
Contributions	$49,857
Taxable income	$1,202,851
Total tax credits [5]	$39,893
Residential energy tax credit	$0
Child tax credit	$17,408
Child and dependent care credit	$0
Earned income credit [6]	$614,188
Excess earned income credit (refundable) [7]	$579,877
Alternative minimum tax	$0
Income tax [8]	$86,871
Total tax liability [9]	$135,200
Tax due at time of filing [10]	$11,837
Overpayments refunded [11]	($1,026,299)

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

Number of returns [1]	262
Number of joint returns	90
Number of returns with paid preparer's signature	179
Number of exemptions	605
Number of dependents	154
Adjust gross income (AGI) [2]	$9,249,798
Salaries and wages	$7,866,801
Taxable interest	$45,437
Ordinary dividends	$9,244
Business or professional net income (less loss)	$257,799
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$137,463
Taxable pensions and annuities	$832,864
Unemployment compensation [3]	$0
Taxable Social Security benefits	$191,015
Self-employment retirement plans	$0
Total itemized deductions [4]	$992,182
State and local income taxes	$72,371
State and local general sales tax	$20,440
Real estate taxes	$47,490
Taxes paid	$200,120
Mortgage interest paid	$290,089
Contributions	$147,168
Taxable income	$4,459,607
Total tax credits [5]	$140,977
Residential energy tax credit	$0
Child tax credit	$104,842
Child and dependent care credit	$23,433
Earned income credit [6]	$124,807
Excess earned income credit (refundable) [7]	$105,808
Alternative minimum tax	$0
Income tax [8]	$388,756
Total tax liability [9]	$461,323
Tax due at time of filing [10]	$56,477
Overpayments refunded [11]	($641,150)

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

Number of returns [1]	89
Number of joint returns	60
Number of returns with paid preparer's signature	64
Number of exemptions	207
Number of dependents	32
Adjust gross income (AGI) [2]	$5,381,708
Salaries and wages	$4,064,820
Taxable interest	$67,884
Ordinary dividends	$20,129
Business or professional net income (less loss)	$234,210
Net capital gain (less loss)	$28,142
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$576,221
Unemployment compensation [3]	$0
Taxable Social Security benefits	$229,852
Self-employment retirement plans	$0
Total itemized deductions [4]	$702,767
State and local income taxes	$90,822
State and local general sales tax	$0
Real estate taxes	$43,954
Taxes paid	$167,065
Mortgage interest paid	$260,964
Contributions	$131,434
Taxable income	$3,471,976
Total tax credits [5]	$50,589
Residential energy tax credit	$0
Child tax credit	$44,491
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$419,357
Total tax liability [9]	$462,562
Tax due at time of filing [10]	$54,500
Overpayments refunded [11]	($143,243)

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

Number of returns [1]	48
Number of joint returns	42
Number of returns with paid preparer's signature	28
Number of exemptions	139
Number of dependents	28
Adjust gross income (AGI) [2]	$4,076,263
Salaries and wages	$3,444,772
Taxable interest	$21,191
Ordinary dividends	$3,944
Business or professional net income (less loss)	$10,516
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$309,731
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$519,038
State and local income taxes	$77,891
State and local general sales tax	$0
Real estate taxes	$29,688
Taxes paid	$122,535
Mortgage interest paid	$188,918
Contributions	$89,570
Taxable income	$2,855,332
Total tax credits [5]	$42,975
Residential energy tax credit	$0
Child tax credit	$34,100
Child and dependent care credit	$6,914
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$380,449
Total tax liability [9]	$410,265
Tax due at time of filing [10]	$22,433
Overpayments refunded [11]	($86,962)

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

Number of returns [1]	35
Number of joint returns	34
Number of returns with paid preparer's signature	24
Number of exemptions	101
Number of dependents	19
Adjust gross income (AGI) [2]	$4,361,928
Salaries and wages	$2,729,586
Taxable interest	$17,635
Ordinary dividends	$0
Business or professional net income (less loss)	$88,990
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$529,019
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$735,358
State and local income taxes	$116,579
State and local general sales tax	$0
Real estate taxes	$40,466
Taxes paid	$170,296
Mortgage interest paid	$249,557
Contributions	$201,990
Taxable income	$3,182,573
Total tax credits [5]	$19,701
Residential energy tax credit	$0
Child tax credit	$17,150
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$528,125
Total tax liability [9]	$569,737
Tax due at time of filing [10]	$57,996
Overpayments refunded [11]	($59,541)

[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.