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Home » Michigan » KENT County » ZIP Code 49534 » Tax Stats

49534 Income Tax Overview

Total Number of Tax Returns for ZIP Code 49534 [1]	9,750
Total Number of Joint Tax Returns for ZIP Code 49534	4,251
Total Number of Dependents for ZIP Code 49534	3,145
Total Adjusted Gross Income for ZIP Code 49534	484,701,812
Average Income per Person for ZIP Code 49534	$22,471

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]	1,935
Number of joint returns	165
Number of returns with paid preparer's signature	811
Number of exemptions	1,477
Number of dependents	151
Adjust gross income (AGI) [2]	$8,056,086
Salaries and wages	$7,897,057
Taxable interest	$592,018
Ordinary dividends	$339,049
Business or professional net income (less loss)	($35,303)
Net capital gain (less loss)	($73,646)
Taxable individual retirement arrangements distributions	$577,947
Taxable pensions and annuities	$745,045
Unemployment compensation [3]	$243,437
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,694,487
State and local income taxes	$70,235
State and local general sales tax	$20,110
Real estate taxes	$212,471
Taxes paid	$371,994
Mortgage interest paid	$523,654
Contributions	$52,330
Taxable income	$652,626
Total tax credits [5]	$1,511
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$316,638
Excess earned income credit (refundable) [7]	$264,151
Alternative minimum tax	$0
Income tax [8]	$62,803
Total tax liability [9]	$184,136
Tax due at time of filing [10]	$44,692
Overpayments refunded [11]	($978,637)

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

Number of returns [1]	2,024
Number of joint returns	364
Number of returns with paid preparer's signature	981
Number of exemptions	2,865
Number of dependents	386
Adjust gross income (AGI) [2]	$34,888,896
Salaries and wages	$25,950,557
Taxable interest	$987,261
Ordinary dividends	$509,142
Business or professional net income (less loss)	$1,275,867
Net capital gain (less loss)	($38,969)
Taxable individual retirement arrangements distributions	$1,752,959
Taxable pensions and annuities	$3,572,008
Unemployment compensation [3]	$1,059,935
Taxable Social Security benefits	$234,553
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,156,652
State and local income taxes	$151,392
State and local general sales tax	$41,737
Real estate taxes	$370,616
Taxes paid	$589,938
Mortgage interest paid	$1,013,036
Contributions	$307,105
Taxable income	$11,687,211
Total tax credits [5]	$201,486
Residential energy tax credit	$0
Child tax credit	$39,630
Child and dependent care credit	$9,528
Earned income credit [6]	$1,080,187
Excess earned income credit (refundable) [7]	$955,526
Alternative minimum tax	$0
Income tax [8]	$1,065,374
Total tax liability [9]	$1,291,582
Tax due at time of filing [10]	$111,970
Overpayments refunded [11]	($3,062,449)

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

Number of returns [1]	2,240
Number of joint returns	797
Number of returns with paid preparer's signature	1,149
Number of exemptions	4,276
Number of dependents	680
Adjust gross income (AGI) [2]	$81,811,055
Salaries and wages	$66,928,472
Taxable interest	$1,526,212
Ordinary dividends	$874,804
Business or professional net income (less loss)	$1,790,521
Net capital gain (less loss)	$51,251
Taxable individual retirement arrangements distributions	$2,344,889
Taxable pensions and annuities	$5,616,717
Unemployment compensation [3]	$1,258,815
Taxable Social Security benefits	$2,019,270
Self-employment retirement plans	$62,592
Total itemized deductions [4]	$9,271,046
State and local income taxes	$1,090,531
State and local general sales tax	$65,322
Real estate taxes	$1,213,939
Taxes paid	$2,493,233
Mortgage interest paid	$3,670,581
Contributions	$1,139,907
Taxable income	$45,100,225
Total tax credits [5]	$806,455
Residential energy tax credit	$0
Child tax credit	$519,835
Child and dependent care credit	$38,119
Earned income credit [6]	$319,096
Excess earned income credit (refundable) [7]	$242,071
Alternative minimum tax	$0
Income tax [8]	$4,831,737
Total tax liability [9]	$5,243,227
Tax due at time of filing [10]	$233,304
Overpayments refunded [11]	($4,554,405)

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

Number of returns [1]	1,551
Number of joint returns	1,095
Number of returns with paid preparer's signature	855
Number of exemptions	4,159
Number of dependents	726
Adjust gross income (AGI) [2]	$95,817,010
Salaries and wages	$79,344,596
Taxable interest	$1,285,312
Ordinary dividends	$825,305
Business or professional net income (less loss)	$2,291,476
Net capital gain (less loss)	$71,388
Taxable individual retirement arrangements distributions	$2,050,461
Taxable pensions and annuities	$6,015,135
Unemployment compensation [3]	$918,422
Taxable Social Security benefits	$2,999,640
Self-employment retirement plans	$0
Total itemized deductions [4]	$14,064,499
State and local income taxes	$2,340,153
State and local general sales tax	$47,997
Real estate taxes	$1,811,779
Taxes paid	$4,410,894
Mortgage interest paid	$5,929,236
Contributions	$2,000,206
Taxable income	$59,851,468
Total tax credits [5]	$1,301,187
Residential energy tax credit	$0
Child tax credit	$1,002,562
Child and dependent care credit	$42,992
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$6,980,748
Total tax liability [9]	$7,549,068
Tax due at time of filing [10]	$439,659
Overpayments refunded [11]	($3,733,289)

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

Number of returns [1]	975
Number of joint returns	875
Number of returns with paid preparer's signature	527
Number of exemptions	2,947
Number of dependents	562
Adjust gross income (AGI) [2]	$84,297,945
Salaries and wages	$71,459,212
Taxable interest	$1,244,413
Ordinary dividends	$545,211
Business or professional net income (less loss)	$1,851,416
Net capital gain (less loss)	$243,062
Taxable individual retirement arrangements distributions	$1,896,652
Taxable pensions and annuities	$3,650,613
Unemployment compensation [3]	$400,703
Taxable Social Security benefits	$2,276,814
Self-employment retirement plans	$0
Total itemized deductions [4]	$13,514,038
State and local income taxes	$2,888,411
State and local general sales tax	$19,834
Real estate taxes	$1,711,423
Taxes paid	$4,847,868
Mortgage interest paid	$5,633,267
Contributions	$2,058,455
Taxable income	$57,564,961
Total tax credits [5]	$1,090,237
Residential energy tax credit	$0
Child tax credit	$806,696
Child and dependent care credit	$53,085
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$7,147,356
Total tax liability [9]	$7,523,843
Tax due at time of filing [10]	$319,978
Overpayments refunded [11]	($2,539,385)

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

Number of returns [1]	897
Number of joint returns	836
Number of returns with paid preparer's signature	510
Number of exemptions	2,879
Number of dependents	570
Adjust gross income (AGI) [2]	$113,895,835
Salaries and wages	$93,292,874
Taxable interest	$1,573,775
Ordinary dividends	$1,340,872
Business or professional net income (less loss)	$3,691,848
Net capital gain (less loss)	$1,038,043
Taxable individual retirement arrangements distributions	$2,334,407
Taxable pensions and annuities	$5,037,581
Unemployment compensation [3]	$289,458
Taxable Social Security benefits	$1,427,063
Self-employment retirement plans	$307,771
Total itemized deductions [4]	$19,400,227
State and local income taxes	$4,960,603
State and local general sales tax	$31,327
Real estate taxes	$2,458,642
Taxes paid	$7,700,214
Mortgage interest paid	$6,881,830
Contributions	$3,500,584
Taxable income	$83,268,190
Total tax credits [5]	$653,939
Residential energy tax credit	$0
Child tax credit	$520,679
Child and dependent care credit	$63,222
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$62,247
Income tax [8]	$13,745,823
Total tax liability [9]	$14,493,020
Tax due at time of filing [10]	$929,051
Overpayments refunded [11]	($2,642,798)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	128
Number of joint returns	119
Number of returns with paid preparer's signature	109
Number of exemptions	400
Number of dependents	70
Adjust gross income (AGI) [2]	$65,934,985
Salaries and wages	$26,569,324
Taxable interest	$1,420,116
Ordinary dividends	$1,207,589
Business or professional net income (less loss)	$819,625
Net capital gain (less loss)	$8,243,265
Taxable individual retirement arrangements distributions	$76,523
Taxable pensions and annuities	$985,211
Unemployment compensation [3]	$0
Taxable Social Security benefits	$389,827
Self-employment retirement plans	$0
Total itemized deductions [4]	$7,999,541
State and local income taxes	$2,625,690
State and local general sales tax	$0
Real estate taxes	$791,665
Taxes paid	$3,480,707
Mortgage interest paid	$1,466,210
Contributions	$2,782,793
Taxable income	$56,739,582
Total tax credits [5]	$53,841
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	$371,243
Income tax [8]	$14,195,590
Total tax liability [9]	$14,477,936
Tax due at time of filing [10]	$2,049,249
Overpayments refunded [11]	($626,476)

[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.