Home » Michigan » KENT County » ZIP Code 49506 » Tax Stats

49506 Income Tax Overview

Total Number of Tax Returns for ZIP Code 49506 [1]	14,082
Total Number of Joint Tax Returns for ZIP Code 49506	5,485
Total Number of Dependents for ZIP Code 49506	4,943
Total Adjusted Gross Income for ZIP Code 49506	1,031,063,605
Average Income per Person for ZIP Code 49506	$32,885

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]	3,059
Number of joint returns	177
Number of returns with paid preparer's signature	1,324
Number of exemptions	2,464
Number of dependents	354
Adjust gross income (AGI) [2]	$10,791,320
Salaries and wages	$14,450,265
Taxable interest	$2,907,870
Ordinary dividends	$2,141,693
Business or professional net income (less loss)	$798,360
Net capital gain (less loss)	$148,728
Taxable individual retirement arrangements distributions	$560,830
Taxable pensions and annuities	$1,293,952
Unemployment compensation [3]	$327,786
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$5,431,257
State and local income taxes	$931,869
State and local general sales tax	$29,030
Real estate taxes	$976,645
Taxes paid	$1,978,520
Mortgage interest paid	$1,493,219
Contributions	$100,305
Taxable income	$949,239
Total tax credits [5]	$3,276
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$704,657
Excess earned income credit (refundable) [7]	$617,754
Alternative minimum tax	$0
Income tax [8]	$104,847
Total tax liability [9]	$678,733
Tax due at time of filing [10]	$143,297
Overpayments refunded [11]	($3,676,566)

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

Number of returns [1]	2,659
Number of joint returns	332
Number of returns with paid preparer's signature	1,240
Number of exemptions	4,242
Number of dependents	755
Adjust gross income (AGI) [2]	$44,919,078
Salaries and wages	$33,159,768
Taxable interest	$1,183,949
Ordinary dividends	$1,277,112
Business or professional net income (less loss)	$3,190,261
Net capital gain (less loss)	($53,422)
Taxable individual retirement arrangements distributions	$1,724,318
Taxable pensions and annuities	$4,068,079
Unemployment compensation [3]	$1,226,101
Taxable Social Security benefits	$302,035
Self-employment retirement plans	$0
Total itemized deductions [4]	$5,272,117
State and local income taxes	$312,586
State and local general sales tax	$49,336
Real estate taxes	$731,442
Taxes paid	$1,130,623
Mortgage interest paid	$1,431,827
Contributions	$525,787
Taxable income	$13,751,882
Total tax credits [5]	$221,925
Residential energy tax credit	$0
Child tax credit	$54,809
Child and dependent care credit	$8,748
Earned income credit [6]	$2,356,820
Excess earned income credit (refundable) [7]	$2,106,282
Alternative minimum tax	$30,903
Income tax [8]	$1,281,313
Total tax liability [9]	$1,807,561
Tax due at time of filing [10]	$202,752
Overpayments refunded [11]	($4,998,139)

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

Number of returns [1]	2,726
Number of joint returns	724
Number of returns with paid preparer's signature	1,373
Number of exemptions	5,073
Number of dependents	843
Adjust gross income (AGI) [2]	$99,339,139
Salaries and wages	$77,824,018
Taxable interest	$1,876,038
Ordinary dividends	$2,282,454
Business or professional net income (less loss)	$3,532,871
Net capital gain (less loss)	($65,394)
Taxable individual retirement arrangements distributions	$2,801,636
Taxable pensions and annuities	$7,966,976
Unemployment compensation [3]	$976,195
Taxable Social Security benefits	$3,035,307
Self-employment retirement plans	$65,686
Total itemized deductions [4]	$15,937,614
State and local income taxes	$1,758,300
State and local general sales tax	$136,729
Real estate taxes	$2,429,031
Taxes paid	$4,521,243
Mortgage interest paid	$5,560,478
Contributions	$1,963,771
Taxable income	$53,794,615
Total tax credits [5]	$995,485
Residential energy tax credit	$8,030
Child tax credit	$555,701
Child and dependent care credit	$48,597
Earned income credit [6]	$522,223
Excess earned income credit (refundable) [7]	$430,176
Alternative minimum tax	$0
Income tax [8]	$5,741,976
Total tax liability [9]	$6,581,899
Tax due at time of filing [10]	$501,350
Overpayments refunded [11]	($5,584,915)

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

Number of returns [1]	1,773
Number of joint returns	959
Number of returns with paid preparer's signature	963
Number of exemptions	4,060
Number of dependents	714
Adjust gross income (AGI) [2]	$109,056,372
Salaries and wages	$84,694,857
Taxable interest	$1,977,427
Ordinary dividends	$2,340,124
Business or professional net income (less loss)	$3,379,779
Net capital gain (less loss)	$822,497
Taxable individual retirement arrangements distributions	$3,223,153
Taxable pensions and annuities	$8,143,664
Unemployment compensation [3]	$517,774
Taxable Social Security benefits	$4,903,788
Self-employment retirement plans	$68,845
Total itemized deductions [4]	$20,934,648
State and local income taxes	$3,464,341
State and local general sales tax	$71,443
Real estate taxes	$3,469,624
Taxes paid	$7,229,687
Mortgage interest paid	$7,792,147
Contributions	$3,109,922
Taxable income	$68,540,148
Total tax credits [5]	$1,181,870
Residential energy tax credit	$0
Child tax credit	$864,901
Child and dependent care credit	$41,405
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$8,530,105
Total tax liability [9]	$9,357,582
Tax due at time of filing [10]	$630,450
Overpayments refunded [11]	($4,308,878)

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

Number of returns [1]	1,194
Number of joint returns	917
Number of returns with paid preparer's signature	620
Number of exemptions	3,312
Number of dependents	625
Adjust gross income (AGI) [2]	$103,546,550
Salaries and wages	$81,307,274
Taxable interest	$1,485,399
Ordinary dividends	$2,154,274
Business or professional net income (less loss)	$3,625,251
Net capital gain (less loss)	$1,335,298
Taxable individual retirement arrangements distributions	$3,292,210
Taxable pensions and annuities	$5,442,228
Unemployment compensation [3]	$364,535
Taxable Social Security benefits	$3,784,054
Self-employment retirement plans	$132,558
Total itemized deductions [4]	$20,435,491
State and local income taxes	$4,161,753
State and local general sales tax	$58,856
Real estate taxes	$3,383,224
Taxes paid	$7,842,074
Mortgage interest paid	$7,100,368
Contributions	$3,418,002
Taxable income	$69,397,101
Total tax credits [5]	$1,251,386
Residential energy tax credit	$0
Child tax credit	$856,204
Child and dependent care credit	$51,028
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$8,988,296
Total tax liability [9]	$9,833,245
Tax due at time of filing [10]	$655,269
Overpayments refunded [11]	($3,420,565)

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

Number of returns [1]	1,774
Number of joint returns	1,564
Number of returns with paid preparer's signature	1,046
Number of exemptions	5,597
Number of dependents	1,080
Adjust gross income (AGI) [2]	$241,817,139
Salaries and wages	$186,945,545
Taxable interest	$3,774,578
Ordinary dividends	$7,097,288
Business or professional net income (less loss)	$10,778,410
Net capital gain (less loss)	$2,740,390
Taxable individual retirement arrangements distributions	$9,186,302
Taxable pensions and annuities	$9,444,826
Unemployment compensation [3]	$383,811
Taxable Social Security benefits	$5,792,829
Self-employment retirement plans	$1,020,253
Total itemized deductions [4]	$49,889,475
State and local income taxes	$12,303,751
State and local general sales tax	$80,135
Real estate taxes	$8,675,070
Taxes paid	$21,522,510
Mortgage interest paid	$15,663,374
Contributions	$8,404,320
Taxable income	$172,851,121
Total tax credits [5]	$1,039,739
Residential energy tax credit	$0
Child tax credit	$777,047
Child and dependent care credit	$83,493
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$267,285
Income tax [8]	$29,740,974
Total tax liability [9]	$31,729,547
Tax due at time of filing [10]	$2,256,566
Overpayments refunded [11]	($6,672,370)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	897
Number of joint returns	812
Number of returns with paid preparer's signature	714
Number of exemptions	3,003
Number of dependents	572
Adjust gross income (AGI) [2]	$421,594,007
Salaries and wages	$224,912,901
Taxable interest	$13,580,263
Ordinary dividends	$35,419,896
Business or professional net income (less loss)	$13,146,685
Net capital gain (less loss)	$16,464,282
Taxable individual retirement arrangements distributions	$9,029,244
Taxable pensions and annuities	$6,625,500
Unemployment compensation [3]	$0
Taxable Social Security benefits	$2,954,794
Self-employment retirement plans	$4,145,350
Total itemized deductions [4]	$74,612,507
State and local income taxes	$24,704,106
State and local general sales tax	$0
Real estate taxes	$10,334,667
Taxes paid	$35,547,444
Mortgage interest paid	$13,106,831
Contributions	$22,915,976
Taxable income	$338,587,006
Total tax credits [5]	$817,872
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$32,887
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$5,328,052
Income tax [8]	$93,180,235
Total tax liability [9]	$96,688,597
Tax due at time of filing [10]	$6,928,700
Overpayments refunded [11]	($7,486,182)

[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.