Home » Oklahoma » LINCOLN County » ZIP Code 74881 » Tax Stats

74881 Income Tax Overview

Total Number of Tax Returns for ZIP Code 74881 [1]	1,874
Total Number of Joint Tax Returns for ZIP Code 74881	950
Total Number of Dependents for ZIP Code 74881	737
Total Adjusted Gross Income for ZIP Code 74881	71,552,131
Average Income per Person for ZIP Code 74881	$15,869

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]	361
Number of joint returns	88
Number of returns with paid preparer's signature	202
Number of exemptions	481
Number of dependents	75
Adjust gross income (AGI) [2]	$1,070,059
Salaries and wages	$1,981,412
Taxable interest	$65,621
Ordinary dividends	$5,321
Business or professional net income (less loss)	$63,308
Net capital gain (less loss)	$29,976
Taxable individual retirement arrangements distributions	$47,702
Taxable pensions and annuities	$261,880
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$193,774
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$35,395
Mortgage interest paid	$0
Contributions	$0
Taxable income	$67,322
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$167,574
Excess earned income credit (refundable) [7]	$142,062
Alternative minimum tax	$0
Income tax [8]	$6,666
Total tax liability [9]	$51,163
Tax due at time of filing [10]	$12,452
Overpayments refunded [11]	($320,139)

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

Number of returns [1]	486
Number of joint returns	155
Number of returns with paid preparer's signature	307
Number of exemptions	938
Number of dependents	187
Adjust gross income (AGI) [2]	$8,370,739
Salaries and wages	$6,273,090
Taxable interest	$146,366
Ordinary dividends	$81,459
Business or professional net income (less loss)	$852,173
Net capital gain (less loss)	($5,391)
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$1,217,125
Unemployment compensation [3]	$98,745
Taxable Social Security benefits	$50,873
Self-employment retirement plans	$0
Total itemized deductions [4]	$663,382
State and local income taxes	$29,398
State and local general sales tax	$21,541
Real estate taxes	$28,859
Taxes paid	$68,232
Mortgage interest paid	$200,420
Contributions	$123,049
Taxable income	$2,054,205
Total tax credits [5]	$36,375
Residential energy tax credit	$0
Child tax credit	$15,875
Child and dependent care credit	$0
Earned income credit [6]	$566,324
Excess earned income credit (refundable) [7]	$474,941
Alternative minimum tax	$0
Income tax [8]	$185,412
Total tax liability [9]	$321,233
Tax due at time of filing [10]	$48,344
Overpayments refunded [11]	($1,143,072)

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

Number of returns [1]	499
Number of joint returns	245
Number of returns with paid preparer's signature	290
Number of exemptions	1,137
Number of dependents	217
Adjust gross income (AGI) [2]	$17,975,827
Salaries and wages	$15,183,248
Taxable interest	$193,301
Ordinary dividends	$45,858
Business or professional net income (less loss)	$615,707
Net capital gain (less loss)	$7,443
Taxable individual retirement arrangements distributions	$164,899
Taxable pensions and annuities	$1,986,340
Unemployment compensation [3]	$93,272
Taxable Social Security benefits	$347,357
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,497,721
State and local income taxes	$122,790
State and local general sales tax	$27,083
Real estate taxes	$57,171
Taxes paid	$216,108
Mortgage interest paid	$443,124
Contributions	$142,785
Taxable income	$9,097,922
Total tax credits [5]	$195,759
Residential energy tax credit	$0
Child tax credit	$149,675
Child and dependent care credit	$14,310
Earned income credit [6]	$162,002
Excess earned income credit (refundable) [7]	$131,771
Alternative minimum tax	$0
Income tax [8]	$922,236
Total tax liability [9]	$1,056,023
Tax due at time of filing [10]	$126,600
Overpayments refunded [11]	($1,150,356)

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

Number of returns [1]	285
Number of joint returns	239
Number of returns with paid preparer's signature	174
Number of exemptions	807
Number of dependents	132
Adjust gross income (AGI) [2]	$17,690,788
Salaries and wages	$14,694,663
Taxable interest	$147,249
Ordinary dividends	$62,021
Business or professional net income (less loss)	$568,801
Net capital gain (less loss)	$35,878
Taxable individual retirement arrangements distributions	$244,413
Taxable pensions and annuities	$1,490,745
Unemployment compensation [3]	$33,527
Taxable Social Security benefits	$640,363
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,889,191
State and local income taxes	$237,468
State and local general sales tax	$28,291
Real estate taxes	$65,967
Taxes paid	$329,518
Mortgage interest paid	$506,991
Contributions	$249,907
Taxable income	$11,060,204
Total tax credits [5]	$237,978
Residential energy tax credit	$0
Child tax credit	$197,793
Child and dependent care credit	$10,503
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,233,403
Total tax liability [9]	$1,356,275
Tax due at time of filing [10]	$126,191
Overpayments refunded [11]	($688,025)

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

Number of returns [1]	148
Number of joint returns	135
Number of returns with paid preparer's signature	95
Number of exemptions	449
Number of dependents	83
Adjust gross income (AGI) [2]	$12,632,058
Salaries and wages	$10,371,998
Taxable interest	$198,490
Ordinary dividends	$76,474
Business or professional net income (less loss)	$268,304
Net capital gain (less loss)	$67,770
Taxable individual retirement arrangements distributions	$438,363
Taxable pensions and annuities	$902,089
Unemployment compensation [3]	$0
Taxable Social Security benefits	$429,245
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,732,148
State and local income taxes	$323,790
State and local general sales tax	$0
Real estate taxes	$69,141
Taxes paid	$416,129
Mortgage interest paid	$449,075
Contributions	$316,957
Taxable income	$8,714,708
Total tax credits [5]	$152,922
Residential energy tax credit	$0
Child tax credit	$122,224
Child and dependent care credit	$7,498
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,082,446
Total tax liability [9]	$1,185,431
Tax due at time of filing [10]	$126,312
Overpayments refunded [11]	($409,343)

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

Number of returns [1]	83
Number of joint returns	78
Number of returns with paid preparer's signature	48
Number of exemptions	231
Number of dependents	43
Adjust gross income (AGI) [2]	$10,389,802
Salaries and wages	$9,607,105
Taxable interest	$74,031
Ordinary dividends	$17,634
Business or professional net income (less loss)	($97,385)
Net capital gain (less loss)	$180,664
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$769,906
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,537,943
State and local income taxes	$358,544
State and local general sales tax	$0
Real estate taxes	$67,457
Taxes paid	$443,396
Mortgage interest paid	$476,566
Contributions	$337,125
Taxable income	$7,838,528
Total tax credits [5]	$44,596
Residential energy tax credit	$0
Child tax credit	$25,800
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]	$1,321,163
Total tax liability [9]	$1,364,455
Tax due at time of filing [10]	$340,890
Overpayments refunded [11]	($222,293)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	12
Number of joint returns	10
Number of returns with paid preparer's signature	11
Number of exemptions	29
Number of dependents	0
Adjust gross income (AGI) [2]	$3,422,858
Salaries and wages	$0
Taxable interest	$0
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]	$0
State and local income taxes	$120,993
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$146,047
Mortgage interest paid	$0
Contributions	$0
Taxable income	$2,817,310
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]	$655,511
Total tax liability [9]	$674,207
Tax due at time of filing [10]	$0
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.