Home » Mississippi » HINDS County » ZIP Code 39216 » Tax Stats

39216 Income Tax Overview

Total Number of Tax Returns for ZIP Code 39216 [1]	1,610
Total Number of Joint Tax Returns for ZIP Code 39216	395
Total Number of Dependents for ZIP Code 39216	516
Total Adjusted Gross Income for ZIP Code 39216	177,442,800
Average Income per Person for ZIP Code 39216	$51,373

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]	315
Number of joint returns	14
Number of returns with paid preparer's signature	180
Number of exemptions	322
Number of dependents	64
Adjust gross income (AGI) [2]	$1,076,707
Salaries and wages	$1,741,562
Taxable interest	$93,797
Ordinary dividends	$140,076
Business or professional net income (less loss)	$127,463
Net capital gain (less loss)	$50,597
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$148,705
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$842,794
State and local income taxes	$53,705
State and local general sales tax	$6,454
Real estate taxes	$76,693
Taxes paid	$198,671
Mortgage interest paid	$330,154
Contributions	$12,171
Taxable income	$101,774
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$142,582
Excess earned income credit (refundable) [7]	$126,962
Alternative minimum tax	$0
Income tax [8]	$8,741
Total tax liability [9]	$50,381
Tax due at time of filing [10]	$26,035
Overpayments refunded [11]	($373,396)

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

Number of returns [1]	438
Number of joint returns	22
Number of returns with paid preparer's signature	243
Number of exemptions	775
Number of dependents	205
Adjust gross income (AGI) [2]	$7,300,436
Salaries and wages	$6,164,384
Taxable interest	$72,413
Ordinary dividends	$154,645
Business or professional net income (less loss)	$633,949
Net capital gain (less loss)	$29,678
Taxable individual retirement arrangements distributions	$55,374
Taxable pensions and annuities	$291,211
Unemployment compensation [3]	$71,891
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$474,915
State and local income taxes	$71,904
State and local general sales tax	$21,236
Real estate taxes	$23,238
Taxes paid	$123,994
Mortgage interest paid	$79,446
Contributions	$56,334
Taxable income	$2,126,933
Total tax credits [5]	$39,053
Residential energy tax credit	$0
Child tax credit	$15,377
Child and dependent care credit	$0
Earned income credit [6]	$673,214
Excess earned income credit (refundable) [7]	$618,935
Alternative minimum tax	$0
Income tax [8]	$189,623
Total tax liability [9]	$294,341
Tax due at time of filing [10]	$39,628
Overpayments refunded [11]	($1,205,792)

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

Number of returns [1]	294
Number of joint returns	45
Number of returns with paid preparer's signature	131
Number of exemptions	450
Number of dependents	76
Adjust gross income (AGI) [2]	$10,590,157
Salaries and wages	$8,587,527
Taxable interest	$212,608
Ordinary dividends	$260,690
Business or professional net income (less loss)	$249,303
Net capital gain (less loss)	$23,430
Taxable individual retirement arrangements distributions	$137,834
Taxable pensions and annuities	$586,034
Unemployment compensation [3]	$0
Taxable Social Security benefits	$304,318
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,275,932
State and local income taxes	$104,428
State and local general sales tax	$45,686
Real estate taxes	$105,054
Taxes paid	$286,211
Mortgage interest paid	$363,013
Contributions	$234,282
Taxable income	$6,372,885
Total tax credits [5]	$88,231
Residential energy tax credit	$0
Child tax credit	$41,509
Child and dependent care credit	$8,884
Earned income credit [6]	$40,009
Excess earned income credit (refundable) [7]	$29,416
Alternative minimum tax	$0
Income tax [8]	$706,288
Total tax liability [9]	$780,868
Tax due at time of filing [10]	$78,552
Overpayments refunded [11]	($536,438)

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

Number of returns [1]	165
Number of joint returns	48
Number of returns with paid preparer's signature	101
Number of exemptions	249
Number of dependents	25
Adjust gross income (AGI) [2]	$10,016,906
Salaries and wages	$6,279,231
Taxable interest	$380,170
Ordinary dividends	$709,481
Business or professional net income (less loss)	$254,188
Net capital gain (less loss)	$61,229
Taxable individual retirement arrangements distributions	$296,878
Taxable pensions and annuities	$1,046,580
Unemployment compensation [3]	$0
Taxable Social Security benefits	$699,442
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,667,474
State and local income taxes	$185,006
State and local general sales tax	$35,755
Real estate taxes	$147,848
Taxes paid	$408,072
Mortgage interest paid	$407,860
Contributions	$349,796
Taxable income	$6,929,618
Total tax credits [5]	$53,555
Residential energy tax credit	$0
Child tax credit	$22,236
Child and dependent care credit	$9,667
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$956,892
Total tax liability [9]	$1,021,672
Tax due at time of filing [10]	$110,988
Overpayments refunded [11]	($337,249)

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

Number of returns [1]	86
Number of joint returns	35
Number of returns with paid preparer's signature	54
Number of exemptions	158
Number of dependents	24
Adjust gross income (AGI) [2]	$7,523,850
Salaries and wages	$4,330,607
Taxable interest	$303,121
Ordinary dividends	$617,140
Business or professional net income (less loss)	$708,744
Net capital gain (less loss)	$39,814
Taxable individual retirement arrangements distributions	$168,796
Taxable pensions and annuities	$569,655
Unemployment compensation [3]	$0
Taxable Social Security benefits	$395,313
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,719,295
State and local income taxes	$254,963
State and local general sales tax	$17,982
Real estate taxes	$147,270
Taxes paid	$451,051
Mortgage interest paid	$405,954
Contributions	$323,526
Taxable income	$5,122,480
Total tax credits [5]	$47,772
Residential energy tax credit	$0
Child tax credit	$23,450
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]	$745,648
Total tax liability [9]	$867,272
Tax due at time of filing [10]	$108,041
Overpayments refunded [11]	($199,177)

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

Number of returns [1]	140
Number of joint returns	94
Number of returns with paid preparer's signature	104
Number of exemptions	315
Number of dependents	47
Adjust gross income (AGI) [2]	$19,019,020
Salaries and wages	$11,456,725
Taxable interest	$563,993
Ordinary dividends	$1,090,987
Business or professional net income (less loss)	$1,509,142
Net capital gain (less loss)	$193,387
Taxable individual retirement arrangements distributions	$555,007
Taxable pensions and annuities	$1,568,503
Unemployment compensation [3]	$0
Taxable Social Security benefits	$709,488
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,649,064
State and local income taxes	$895,741
State and local general sales tax	$55,280
Real estate taxes	$305,344
Taxes paid	$1,312,417
Mortgage interest paid	$1,032,383
Contributions	$804,839
Taxable income	$14,195,833
Total tax credits [5]	$84,776
Residential energy tax credit	$0
Child tax credit	$27,800
Child and dependent care credit	$6,283
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$2,600,854
Total tax liability [9]	$2,858,867
Tax due at time of filing [10]	$287,005
Overpayments refunded [11]	($429,245)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	172
Number of joint returns	137
Number of returns with paid preparer's signature	159
Number of exemptions	474
Number of dependents	75
Adjust gross income (AGI) [2]	$121,915,724
Salaries and wages	$32,881,891
Taxable interest	$3,490,136
Ordinary dividends	$5,436,221
Business or professional net income (less loss)	$6,076,779
Net capital gain (less loss)	$9,511,135
Taxable individual retirement arrangements distributions	$997,409
Taxable pensions and annuities	$1,338,173
Unemployment compensation [3]	$0
Taxable Social Security benefits	$1,133,152
Self-employment retirement plans	$967,535
Total itemized deductions [4]	$16,171,790
State and local income taxes	$6,274,357
State and local general sales tax	$0
Real estate taxes	$938,981
Taxes paid	$7,435,779
Mortgage interest paid	$2,326,581
Contributions	$3,458,262
Taxable income	$104,452,270
Total tax credits [5]	$439,675
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$8,805
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$901,500
Income tax [8]	$29,049,431
Total tax liability [9]	$30,135,204
Tax due at time of filing [10]	$2,911,490
Overpayments refunded [11]	($1,131,004)

[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.