Home » Iowa » POTTAWATTAMIE County » ZIP Code 51503 » Tax Stats

51503 Income Tax Overview

Total Number of Tax Returns for ZIP Code 51503 [1]	16,612
Total Number of Joint Tax Returns for ZIP Code 51503	7,263
Total Number of Dependents for ZIP Code 51503	5,227
Total Adjusted Gross Income for ZIP Code 51503	1,022,278,209
Average Income per Person for ZIP Code 51503	$28,103

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]	2,824
Number of joint returns	216
Number of returns with paid preparer's signature	1,400
Number of exemptions	2,367
Number of dependents	322
Adjust gross income (AGI) [2]	$12,214,893
Salaries and wages	$12,598,713
Taxable interest	$831,923
Ordinary dividends	$617,685
Business or professional net income (less loss)	($515,877)
Net capital gain (less loss)	$68,098
Taxable individual retirement arrangements distributions	$475,852
Taxable pensions and annuities	$1,288,785
Unemployment compensation [3]	$174,338
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,729,026
State and local income taxes	$147,284
State and local general sales tax	$21,922
Real estate taxes	$388,409
Taxes paid	$580,814
Mortgage interest paid	$875,407
Contributions	$100,063
Taxable income	$956,489
Total tax credits [5]	$332
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$735,294
Excess earned income credit (refundable) [7]	$673,114
Alternative minimum tax	$0
Income tax [8]	$91,113
Total tax liability [9]	$263,896
Tax due at time of filing [10]	$69,337
Overpayments refunded [11]	($1,730,085)

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

Number of returns [1]	3,351
Number of joint returns	539
Number of returns with paid preparer's signature	2,013
Number of exemptions	5,011
Number of dependents	808
Adjust gross income (AGI) [2]	$58,119,918
Salaries and wages	$42,932,141
Taxable interest	$2,212,618
Ordinary dividends	$1,177,586
Business or professional net income (less loss)	$1,734,717
Net capital gain (less loss)	$209,475
Taxable individual retirement arrangements distributions	$1,864,013
Taxable pensions and annuities	$7,383,099
Unemployment compensation [3]	$908,226
Taxable Social Security benefits	$395,225
Self-employment retirement plans	$0
Total itemized deductions [4]	$6,755,163
State and local income taxes	$260,358
State and local general sales tax	$95,414
Real estate taxes	$851,514
Taxes paid	$1,261,669
Mortgage interest paid	$1,339,959
Contributions	$500,124
Taxable income	$18,213,032
Total tax credits [5]	$300,012
Residential energy tax credit	$0
Child tax credit	$92,504
Child and dependent care credit	$29,997
Earned income credit [6]	$2,397,537
Excess earned income credit (refundable) [7]	$2,248,330
Alternative minimum tax	$0
Income tax [8]	$1,667,973
Total tax liability [9]	$1,989,840
Tax due at time of filing [10]	$203,437
Overpayments refunded [11]	($5,965,908)

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

Number of returns [1]	3,743
Number of joint returns	1,164
Number of returns with paid preparer's signature	2,428
Number of exemptions	6,687
Number of dependents	1,017
Adjust gross income (AGI) [2]	$136,038,883
Salaries and wages	$104,595,053
Taxable interest	$3,256,623
Ordinary dividends	$1,791,971
Business or professional net income (less loss)	$2,445,787
Net capital gain (less loss)	$197,853
Taxable individual retirement arrangements distributions	$3,379,568
Taxable pensions and annuities	$13,893,111
Unemployment compensation [3]	$767,367
Taxable Social Security benefits	$5,093,924
Self-employment retirement plans	$0
Total itemized deductions [4]	$17,408,233
State and local income taxes	$1,719,885
State and local general sales tax	$153,531
Real estate taxes	$2,635,782
Taxes paid	$4,716,998
Mortgage interest paid	$5,724,887
Contributions	$1,812,955
Taxable income	$75,447,111
Total tax credits [5]	$1,249,476
Residential energy tax credit	$0
Child tax credit	$732,759
Child and dependent care credit	$91,873
Earned income credit [6]	$524,811
Excess earned income credit (refundable) [7]	$432,235
Alternative minimum tax	$0
Income tax [8]	$8,217,419
Total tax liability [9]	$8,810,334
Tax due at time of filing [10]	$547,220
Overpayments refunded [11]	($7,266,682)

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

Number of returns [1]	2,459
Number of joint returns	1,553
Number of returns with paid preparer's signature	1,733
Number of exemptions	5,813
Number of dependents	985
Adjust gross income (AGI) [2]	$152,237,826
Salaries and wages	$116,375,946
Taxable interest	$3,055,370
Ordinary dividends	$1,844,352
Business or professional net income (less loss)	$3,278,547
Net capital gain (less loss)	$82,029
Taxable individual retirement arrangements distributions	$3,734,505
Taxable pensions and annuities	$13,320,355
Unemployment compensation [3]	$496,235
Taxable Social Security benefits	$7,741,039
Self-employment retirement plans	$82,644
Total itemized deductions [4]	$23,769,909
State and local income taxes	$3,729,788
State and local general sales tax	$87,624
Real estate taxes	$3,439,357
Taxes paid	$7,582,992
Mortgage interest paid	$9,091,541
Contributions	$2,527,311
Taxable income	$97,066,667
Total tax credits [5]	$1,809,643
Residential energy tax credit	$13,995
Child tax credit	$1,196,776
Child and dependent care credit	$130,106
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$11,835,760
Total tax liability [9]	$12,616,510
Tax due at time of filing [10]	$945,764
Overpayments refunded [11]	($5,515,616)

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

Number of returns [1]	1,933
Number of joint returns	1,677
Number of returns with paid preparer's signature	1,386
Number of exemptions	5,383
Number of dependents	938
Adjust gross income (AGI) [2]	$167,975,985
Salaries and wages	$133,162,037
Taxable interest	$2,932,100
Ordinary dividends	$2,058,013
Business or professional net income (less loss)	$2,348,368
Net capital gain (less loss)	$1,015,221
Taxable individual retirement arrangements distributions	$3,971,497
Taxable pensions and annuities	$13,376,086
Unemployment compensation [3]	$338,529
Taxable Social Security benefits	$6,233,878
Self-employment retirement plans	$79,993
Total itemized deductions [4]	$28,394,859
State and local income taxes	$6,032,962
State and local general sales tax	$56,612
Real estate taxes	$4,175,939
Taxes paid	$10,680,431
Mortgage interest paid	$10,958,210
Contributions	$3,271,444
Taxable income	$115,071,510
Total tax credits [5]	$2,039,015
Residential energy tax credit	$0
Child tax credit	$1,255,431
Child and dependent care credit	$145,938
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$14,417,738
Total tax liability [9]	$15,050,574
Tax due at time of filing [10]	$714,448
Overpayments refunded [11]	($5,372,298)

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

Number of returns [1]	1,930
Number of joint returns	1,784
Number of returns with paid preparer's signature	1,402
Number of exemptions	5,596
Number of dependents	977
Adjust gross income (AGI) [2]	$249,563,558
Salaries and wages	$193,100,479
Taxable interest	$4,583,824
Ordinary dividends	$3,505,731
Business or professional net income (less loss)	$5,483,513
Net capital gain (less loss)	$4,530,307
Taxable individual retirement arrangements distributions	$5,134,277
Taxable pensions and annuities	$14,930,355
Unemployment compensation [3]	$174,339
Taxable Social Security benefits	$5,313,369
Self-employment retirement plans	$620,582
Total itemized deductions [4]	$42,437,454
State and local income taxes	$11,633,436
State and local general sales tax	$52,949
Real estate taxes	$6,110,587
Taxes paid	$18,434,700
Mortgage interest paid	$15,018,044
Contributions	$5,237,601
Taxable income	$185,064,915
Total tax credits [5]	$1,152,708
Residential energy tax credit	$16,316
Child tax credit	$794,682
Child and dependent care credit	$139,238
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$67,250
Income tax [8]	$30,966,541
Total tax liability [9]	$32,340,558
Tax due at time of filing [10]	$2,699,141
Overpayments refunded [11]	($4,986,297)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	372
Number of joint returns	330
Number of returns with paid preparer's signature	324
Number of exemptions	1,063
Number of dependents	180
Adjust gross income (AGI) [2]	$246,127,146
Salaries and wages	$80,809,921
Taxable interest	$4,486,405
Ordinary dividends	$2,871,518
Business or professional net income (less loss)	$5,914,063
Net capital gain (less loss)	$35,943,912
Taxable individual retirement arrangements distributions	$3,000,157
Taxable pensions and annuities	$4,130,756
Unemployment compensation [3]	$0
Taxable Social Security benefits	$1,486,735
Self-employment retirement plans	$948,298
Total itemized deductions [4]	$23,924,723
State and local income taxes	$12,068,765
State and local general sales tax	$0
Real estate taxes	$1,992,426
Taxes paid	$14,253,680
Mortgage interest paid	$4,060,970
Contributions	$3,826,178
Taxable income	$219,228,159
Total tax credits [5]	$117,534
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$16,907
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$1,494,100
Income tax [8]	$50,912,264
Total tax liability [9]	$51,827,253
Tax due at time of filing [10]	$5,289,291
Overpayments refunded [11]	($1,925,607)

[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.