Home » Arkansas » CONWAY County » CENTER RIDGE, AR » ZIP Code 72027 » Tax Stats

72027 Income Tax Overview

Total Number of Tax Returns for ZIP Code 72027 [1]	581
Total Number of Joint Tax Returns for ZIP Code 72027	293
Total Number of Dependents for ZIP Code 72027	225
Total Adjusted Gross Income for ZIP Code 72027	27,971,898
Average Income per Person for ZIP Code 72027	$19,740

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]	98
Number of joint returns	15
Number of returns with paid preparer's signature	65
Number of exemptions	133
Number of dependents	29
Adjust gross income (AGI) [2]	$321,031
Salaries and wages	$385,036
Taxable interest	$21,285
Ordinary dividends	$4,255
Business or professional net income (less loss)	$122,281
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	$34,143
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$60,580
Excess earned income credit (refundable) [7]	$50,008
Alternative minimum tax	$0
Income tax [8]	$4,926
Total tax liability [9]	$25,389
Tax due at time of filing [10]	$11,122
Overpayments refunded [11]	($86,996)

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

Number of returns [1]	138
Number of joint returns	45
Number of returns with paid preparer's signature	111
Number of exemptions	253
Number of dependents	40
Adjust gross income (AGI) [2]	$2,372,873
Salaries and wages	$1,610,521
Taxable interest	$34,106
Ordinary dividends	$0
Business or professional net income (less loss)	$131,659
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$354,675
Unemployment compensation [3]	$51,988
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	$626,838
Total tax credits [5]	$5,813
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$126,263
Excess earned income credit (refundable) [7]	$114,035
Alternative minimum tax	$0
Income tax [8]	$61,735
Total tax liability [9]	$83,105
Tax due at time of filing [10]	$14,823
Overpayments refunded [11]	($242,450)

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

Number of returns [1]	155
Number of joint returns	75
Number of returns with paid preparer's signature	123
Number of exemptions	362
Number of dependents	64
Adjust gross income (AGI) [2]	$5,471,497
Salaries and wages	$4,004,918
Taxable interest	$94,918
Ordinary dividends	$8,882
Business or professional net income (less loss)	$94,271
Net capital gain (less loss)	$52,599
Taxable individual retirement arrangements distributions	$100,126
Taxable pensions and annuities	$606,371
Unemployment compensation [3]	$98,728
Taxable Social Security benefits	$184,440
Self-employment retirement plans	$0
Total itemized deductions [4]	$492,788
State and local income taxes	$31,581
State and local general sales tax	$14,877
Real estate taxes	$11,230
Taxes paid	$60,983
Mortgage interest paid	$130,184
Contributions	$85,356
Taxable income	$2,645,247
Total tax credits [5]	$56,421
Residential energy tax credit	$0
Child tax credit	$45,147
Child and dependent care credit	$6,200
Earned income credit [6]	$51,997
Excess earned income credit (refundable) [7]	$40,750
Alternative minimum tax	$0
Income tax [8]	$261,783
Total tax liability [9]	$301,423
Tax due at time of filing [10]	$48,621
Overpayments refunded [11]	($344,503)

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

Number of returns [1]	71
Number of joint returns	52
Number of returns with paid preparer's signature	56
Number of exemptions	190
Number of dependents	35
Adjust gross income (AGI) [2]	$4,259,553
Salaries and wages	$3,312,612
Taxable interest	$36,123
Ordinary dividends	$0
Business or professional net income (less loss)	$26,511
Net capital gain (less loss)	$119,033
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$280,662
Unemployment compensation [3]	$46,448
Taxable Social Security benefits	$173,467
Self-employment retirement plans	$0
Total itemized deductions [4]	$267,847
State and local income taxes	$40,270
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$48,498
Mortgage interest paid	$61,601
Contributions	$0
Taxable income	$2,724,375
Total tax credits [5]	$54,760
Residential energy tax credit	$0
Child tax credit	$47,928
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]	$307,933
Total tax liability [9]	$327,484
Tax due at time of filing [10]	$54,966
Overpayments refunded [11]	($147,255)

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

Number of returns [1]	55
Number of joint returns	50
Number of returns with paid preparer's signature	48
Number of exemptions	157
Number of dependents	29
Adjust gross income (AGI) [2]	$4,681,812
Salaries and wages	$3,400,510
Taxable interest	$16,695
Ordinary dividends	$0
Business or professional net income (less loss)	$80,730
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$69,611
Taxable pensions and annuities	$380,729
Unemployment compensation [3]	$0
Taxable Social Security benefits	$166,781
Self-employment retirement plans	$0
Total itemized deductions [4]	$517,788
State and local income taxes	$117,228
State and local general sales tax	$0
Real estate taxes	$18,775
Taxes paid	$157,176
Mortgage interest paid	$151,925
Contributions	$67,991
Taxable income	$3,313,856
Total tax credits [5]	$46,984
Residential energy tax credit	$0
Child tax credit	$37,000
Child and dependent care credit	$4,433
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$437,878
Total tax liability [9]	$455,946
Tax due at time of filing [10]	$64,382
Overpayments refunded [11]	($134,118)

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

Number of returns [1]	50
Number of joint returns	42
Number of returns with paid preparer's signature	45
Number of exemptions	146
Number of dependents	28
Adjust gross income (AGI) [2]	$6,552,410
Salaries and wages	$3,288,174
Taxable interest	$99,612
Ordinary dividends	$24,083
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$378,385
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$244,972
Unemployment compensation [3]	$0
Taxable Social Security benefits	$306,178
Self-employment retirement plans	$0
Total itemized deductions [4]	$555,918
State and local income taxes	$317,642
State and local general sales tax	$0
Real estate taxes	$27,512
Taxes paid	$208,791
Mortgage interest paid	$158,557
Contributions	$175,417
Taxable income	$5,242,261
Total tax credits [5]	$36,441
Residential energy tax credit	$0
Child tax credit	$23,836
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]	$907,830
Total tax liability [9]	$912,260
Tax due at time of filing [10]	$360,093
Overpayments refunded [11]	($67,589)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	14
Number of joint returns	14
Number of returns with paid preparer's signature	13
Number of exemptions	31
Number of dependents	0
Adjust gross income (AGI) [2]	$4,312,722
Salaries and wages	$0
Taxable interest	$91,061
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]	$283,908
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$162,960
Mortgage interest paid	$0
Contributions	$0
Taxable income	$3,898,438
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]	$950,421
Total tax liability [9]	$951,841
Tax due at time of filing [10]	$405,735
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.