CROFTON, KY 42217

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ZIP Code 42217 Income Tax Stats

Individual Income by ZIP Code -- Tax Statistics: 2008



42217 Income Tax Overview

Total Number of Tax Returns for ZIP Code 42217 [1] 1,580
Total Number of Joint Tax Returns for ZIP Code 42217 827
Total Number of Dependents for ZIP Code 42217 598
Total Adjusted Gross Income for ZIP Code 42217 59,020,443
Average Income per Person for ZIP Code 42217 $14,336

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] 338
Number of joint returns 75
Number of returns with paid preparer's signature 201
Number of exemptions 443
Number of dependents 72
Adjust gross income (AGI) [2] $733,979
Salaries and wages $1,436,190
Taxable interest $101,146
Ordinary dividends $23,380
Business or professional net income (less loss) $55,220
Net capital gain (less loss) ($3,277)
Taxable individual retirement arrangements distributions $0
Taxable pensions and annuities $232,377
Unemployment compensation [3] $25,915
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $135,645
State and local income taxes $0
State and local general sales tax $0
Real estate taxes $0
Taxes paid $20,929
Mortgage interest paid $0
Contributions $0
Taxable income $69,657
Total tax credits [5] $0
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $127,667
Excess earned income credit (refundable) [7] $112,949
Alternative minimum tax $0
Income tax [8] $6,993
Total tax liability [9] $55,683
Tax due at time of filing [10] $24,283
Overpayments refunded [11] ($249,145)

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

Number of returns [1] 354
Number of joint returns 109
Number of returns with paid preparer's signature 224
Number of exemptions 667
Number of dependents 127
Adjust gross income (AGI) [2] $6,029,053
Salaries and wages $4,277,288
Taxable interest $248,324
Ordinary dividends $33,777
Business or professional net income (less loss) $449,305
Net capital gain (less loss) $40,810
Taxable individual retirement arrangements distributions $93,755
Taxable pensions and annuities $679,931
Unemployment compensation [3] $168,228
Taxable Social Security benefits $11,312
Self-employment retirement plans $0
Total itemized deductions [4] $273,979
State and local income taxes $27,936
State and local general sales tax $0
Real estate taxes $14,905
Taxes paid $34,623
Mortgage interest paid $160,703
Contributions $43,786
Taxable income $1,525,391
Total tax credits [5] $18,575
Residential energy tax credit $0
Child tax credit $9,830
Child and dependent care credit $0
Earned income credit [6] $367,346
Excess earned income credit (refundable) [7] $328,856
Alternative minimum tax $0
Income tax [8] $145,077
Total tax liability [9] $217,351
Tax due at time of filing [10] $33,205
Overpayments refunded [11] ($696,573)

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

Number of returns [1] 448
Number of joint returns 242
Number of returns with paid preparer's signature 307
Number of exemptions 1,015
Number of dependents 178
Adjust gross income (AGI) [2] $16,091,393
Salaries and wages $12,511,592
Taxable interest $307,116
Ordinary dividends $86,363
Business or professional net income (less loss) $599,977
Net capital gain (less loss) $111,836
Taxable individual retirement arrangements distributions $294,217
Taxable pensions and annuities $1,551,207
Unemployment compensation [3] $407,507
Taxable Social Security benefits $424,685
Self-employment retirement plans $0
Total itemized deductions [4] $1,224,963
State and local income taxes $166,575
State and local general sales tax $15,296
Real estate taxes $48,255
Taxes paid $251,602
Mortgage interest paid $324,061
Contributions $186,737
Taxable income $8,037,658
Total tax credits [5] $152,223
Residential energy tax credit $0
Child tax credit $117,866
Child and dependent care credit $8,375
Earned income credit [6] $126,057
Excess earned income credit (refundable) [7] $100,390
Alternative minimum tax $0
Income tax [8] $809,656
Total tax liability [9] $924,237
Tax due at time of filing [10] $89,340
Overpayments refunded [11] ($947,571)

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

Number of returns [1] 256
Number of joint returns 226
Number of returns with paid preparer's signature 174
Number of exemptions 722
Number of dependents 136
Adjust gross income (AGI) [2] $15,813,850
Salaries and wages $12,311,404
Taxable interest $214,488
Ordinary dividends $60,951
Business or professional net income (less loss) $718,349
Net capital gain (less loss) $139,409
Taxable individual retirement arrangements distributions $226,563
Taxable pensions and annuities $1,219,957
Unemployment compensation [3] $173,608
Taxable Social Security benefits $391,040
Self-employment retirement plans $0
Total itemized deductions [4] $1,463,700
State and local income taxes $319,721
State and local general sales tax $0
Real estate taxes $63,853
Taxes paid $416,179
Mortgage interest paid $498,643
Contributions $297,648
Taxable income $10,041,324
Total tax credits [5] $218,302
Residential energy tax credit $0
Child tax credit $183,846
Child and dependent care credit $7,528
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $1,106,547
Total tax liability [9] $1,240,733
Tax due at time of filing [10] $131,342
Overpayments refunded [11] ($524,168)

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

Number of returns [1] 109
Number of joint returns 102
Number of returns with paid preparer's signature 75
Number of exemptions 292
Number of dependents 41
Adjust gross income (AGI) [2] $9,442,208
Salaries and wages $7,720,581
Taxable interest $183,436
Ordinary dividends $34,861
Business or professional net income (less loss) $287,562
Net capital gain (less loss) $231,763
Taxable individual retirement arrangements distributions $178,492
Taxable pensions and annuities $517,142
Unemployment compensation [3] $54,254
Taxable Social Security benefits $321,053
Self-employment retirement plans $0
Total itemized deductions [4] $1,412,454
State and local income taxes $445,630
State and local general sales tax $0
Real estate taxes $66,385
Taxes paid $536,570
Mortgage interest paid $427,625
Contributions $269,021
Taxable income $6,668,094
Total tax credits [5] $71,567
Residential energy tax credit $0
Child tax credit $58,000
Child and dependent care credit $8,617
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $858,999
Total tax liability [9] $906,475
Tax due at time of filing [10] $90,450
Overpayments refunded [11] ($258,066)

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

Number of returns [1] 65
Number of joint returns 63
Number of returns with paid preparer's signature 55
Number of exemptions 214
Number of dependents 44
Adjust gross income (AGI) [2] $8,319,010
Salaries and wages $5,995,278
Taxable interest $207,984
Ordinary dividends $94,579
Business or professional net income (less loss) $1,572,960
Net capital gain (less loss) $130,004
Taxable individual retirement arrangements distributions $0
Taxable pensions and annuities $810,460
Unemployment compensation [3] $0
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $1,445,561
State and local income taxes $562,426
State and local general sales tax $0
Real estate taxes $65,698
Taxes paid $655,263
Mortgage interest paid $386,808
Contributions $323,727
Taxable income $6,159,280
Total tax credits [5] $56,702
Residential energy tax credit $0
Child tax credit $34,406
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] $1,007,648
Total tax liability [9] $1,140,892
Tax due at time of filing [10] $484,204
Overpayments refunded [11] ($163,056)

Adjusted Gross Income: $200,000 or more

Number of returns [1] 10
Number of joint returns 10
Number of returns with paid preparer's signature 0
Number of exemptions 36
Number of dependents 0
Adjust gross income (AGI) [2] $2,590,950
Salaries and wages $0
Taxable interest $0
Ordinary dividends $0
Business or professional net income (less loss) $0
Net capital gain (less loss) $0
Taxable individual retirement arrangements distributions $0
Taxable pensions and annuities $0
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 $0
Total tax credits [5] $0
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 $0
Income tax [8] $0
Total tax liability [9] $0
Tax due at time of filing [10] $0
Overpayments refunded [11] $0

[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.