GHEENS, LA 70355

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ZIP Code 70355 Income Tax Stats

Individual Income by ZIP Code -- Tax Statistics: 2008



70355 Income Tax Overview

Total Number of Tax Returns for ZIP Code 70355 [1] 423
Total Number of Joint Tax Returns for ZIP Code 70355 185
Total Number of Dependents for ZIP Code 70355 160
Total Adjusted Gross Income for ZIP Code 70355 17,452,132
Average Income per Person for ZIP Code 70355 $16,765

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] 84
Number of joint returns 11
Number of returns with paid preparer's signature 36
Number of exemptions 85
Number of dependents 14
Adjust gross income (AGI) [2] $405,499
Salaries and wages $320,383
Taxable interest $11,692
Ordinary dividends $0
Business or professional net income (less loss) $45,642
Net capital gain (less loss) ($5,028)
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] $34,850
Excess earned income credit (refundable) [7] $32,549
Alternative minimum tax $0
Income tax [8] $0
Total tax liability [9] $9,268
Tax due at time of filing [10] $6,109
Overpayments refunded [11] ($57,601)

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

Number of returns [1] 99
Number of joint returns 20
Number of returns with paid preparer's signature 59
Number of exemptions 162
Number of dependents 31
Adjust gross income (AGI) [2] $1,649,175
Salaries and wages $1,406,669
Taxable interest $12,441
Ordinary dividends $6,049
Business or professional net income (less loss) $110,630
Net capital gain (less loss) $0
Taxable individual retirement arrangements distributions $58,072
Taxable pensions and annuities $90,004
Unemployment compensation [3] $0
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $142,792
State and local income taxes $0
State and local general sales tax $0
Real estate taxes $0
Taxes paid $12,984
Mortgage interest paid $0
Contributions $0
Taxable income $494,683
Total tax credits [5] $4,195
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $99,448
Excess earned income credit (refundable) [7] $90,277
Alternative minimum tax $0
Income tax [8] $48,602
Total tax liability [9] $65,964
Tax due at time of filing [10] $0
Overpayments refunded [11] ($213,686)

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

Number of returns [1] 97
Number of joint returns 42
Number of returns with paid preparer's signature 51
Number of exemptions 203
Number of dependents 40
Adjust gross income (AGI) [2] $3,606,455
Salaries and wages $3,438,115
Taxable interest $28,079
Ordinary dividends $0
Business or professional net income (less loss) $52,669
Net capital gain (less loss) $0
Taxable individual retirement arrangements distributions $0
Taxable pensions and annuities $152,134
Unemployment compensation [3] $0
Taxable Social Security benefits $82,838
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 $2,004,466
Total tax credits [5] $36,897
Residential energy tax credit $0
Child tax credit $28,993
Child and dependent care credit $0
Earned income credit [6] $23,458
Excess earned income credit (refundable) [7] $21,636
Alternative minimum tax $0
Income tax [8] $220,863
Total tax liability [9] $229,528
Tax due at time of filing [10] $23,424
Overpayments refunded [11] ($226,574)

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

Number of returns [1] 75
Number of joint returns 51
Number of returns with paid preparer's signature 42
Number of exemptions 175
Number of dependents 33
Adjust gross income (AGI) [2] $4,650,326
Salaries and wages $4,258,194
Taxable interest $43,423
Ordinary dividends $9,452
Business or professional net income (less loss) $226,765
Net capital gain (less loss) ($9,340)
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] $269,155
State and local income taxes $47,893
State and local general sales tax $0
Real estate taxes $0
Taxes paid $52,011
Mortgage interest paid $156,526
Contributions $10,175
Taxable income $3,225,184
Total tax credits [5] $36,449
Residential energy tax credit $0
Child tax credit $34,526
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] $412,114
Total tax liability [9] $449,623
Tax due at time of filing [10] $0
Overpayments refunded [11] ($172,757)

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

Number of returns [1] 37
Number of joint returns 32
Number of returns with paid preparer's signature 22
Number of exemptions 109
Number of dependents 23
Adjust gross income (AGI) [2] $3,199,261
Salaries and wages $3,004,256
Taxable interest $3,628
Ordinary dividends $0
Business or professional net income (less loss) $54,534
Net capital gain (less loss) ($6,184)
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 $2,378,831
Total tax credits [5] $33,339
Residential energy tax credit $0
Child tax credit $35,500
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] $319,489
Total tax liability [9] $322,279
Tax due at time of filing [10] $0
Overpayments refunded [11] ($136,767)

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

Number of returns [1] 31
Number of joint returns 29
Number of returns with paid preparer's signature 24
Number of exemptions 97
Number of dependents 19
Adjust gross income (AGI) [2] $3,941,416
Salaries and wages $3,603,148
Taxable interest $31,004
Ordinary dividends $4,764
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] $416,262
State and local income taxes $96,127
State and local general sales tax $0
Real estate taxes $17,054
Taxes paid $113,324
Mortgage interest paid $141,273
Contributions $27,763
Taxable income $3,040,310
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] $508,260
Total tax liability [9] $527,548
Tax due at time of filing [10] $0
Overpayments refunded [11] ($99,384)

[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.