Home » Texas » GUADALUPE County » ZIP Code 78123 » Tax Stats

78123 Income Tax Overview

Total Number of Tax Returns for ZIP Code 78123 [1]	1,215
Total Number of Joint Tax Returns for ZIP Code 78123	489
Total Number of Dependents for ZIP Code 78123	397
Total Adjusted Gross Income for ZIP Code 78123	68,374,707
Average Income per Person for ZIP Code 78123	$28,525

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]	239
Number of joint returns	23
Number of returns with paid preparer's signature	102
Number of exemptions	240
Number of dependents	37
Adjust gross income (AGI) [2]	$911,898
Salaries and wages	$1,027,066
Taxable interest	$75,186
Ordinary dividends	$17,099
Business or professional net income (less loss)	$108,895
Net capital gain (less loss)	($13,773)
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$71,979
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	$52,305
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$88,327
Excess earned income credit (refundable) [7]	$78,758
Alternative minimum tax	$0
Income tax [8]	$4,086
Total tax liability [9]	$21,176
Tax due at time of filing [10]	$4,588
Overpayments refunded [11]	($162,382)

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

Number of returns [1]	294
Number of joint returns	69
Number of returns with paid preparer's signature	144
Number of exemptions	546
Number of dependents	117
Adjust gross income (AGI) [2]	$5,080,048
Salaries and wages	$3,842,859
Taxable interest	$121,092
Ordinary dividends	$17,281
Business or professional net income (less loss)	$341,008
Net capital gain (less loss)	$2,238
Taxable individual retirement arrangements distributions	$60,452
Taxable pensions and annuities	$683,165
Unemployment compensation [3]	$0
Taxable Social Security benefits	$16,514
Self-employment retirement plans	$0
Total itemized deductions [4]	$363,517
State and local income taxes	$0
State and local general sales tax	$12,878
Real estate taxes	$53,989
Taxes paid	$67,430
Mortgage interest paid	$101,092
Contributions	$21,592
Taxable income	$1,300,938
Total tax credits [5]	$24,810
Residential energy tax credit	$0
Child tax credit	$16,105
Child and dependent care credit	$0
Earned income credit [6]	$358,660
Excess earned income credit (refundable) [7]	$327,709
Alternative minimum tax	$0
Income tax [8]	$114,374
Total tax liability [9]	$174,713
Tax due at time of filing [10]	$22,379
Overpayments refunded [11]	($686,025)

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

Number of returns [1]	310
Number of joint returns	109
Number of returns with paid preparer's signature	152
Number of exemptions	622
Number of dependents	115
Adjust gross income (AGI) [2]	$10,964,755
Salaries and wages	$8,980,649
Taxable interest	$163,235
Ordinary dividends	$53,005
Business or professional net income (less loss)	$594,472
Net capital gain (less loss)	($2,795)
Taxable individual retirement arrangements distributions	$95,115
Taxable pensions and annuities	$892,576
Unemployment compensation [3]	$132,400
Taxable Social Security benefits	$251,479
Self-employment retirement plans	$0
Total itemized deductions [4]	$735,858
State and local income taxes	$0
State and local general sales tax	$37,293
Real estate taxes	$116,506
Taxes paid	$199,713
Mortgage interest paid	$247,323
Contributions	$63,301
Taxable income	$5,899,920
Total tax credits [5]	$116,525
Residential energy tax credit	$0
Child tax credit	$83,161
Child and dependent care credit	$8,525
Earned income credit [6]	$79,910
Excess earned income credit (refundable) [7]	$68,851
Alternative minimum tax	$0
Income tax [8]	$621,408
Total tax liability [9]	$712,845
Tax due at time of filing [10]	$84,144
Overpayments refunded [11]	($655,539)

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

Number of returns [1]	158
Number of joint returns	114
Number of returns with paid preparer's signature	85
Number of exemptions	375
Number of dependents	55
Adjust gross income (AGI) [2]	$9,837,590
Salaries and wages	$7,260,170
Taxable interest	$226,467
Ordinary dividends	$96,441
Business or professional net income (less loss)	$322,600
Net capital gain (less loss)	$19,397
Taxable individual retirement arrangements distributions	$349,541
Taxable pensions and annuities	$1,099,583
Unemployment compensation [3]	$57,161
Taxable Social Security benefits	$466,587
Self-employment retirement plans	$0
Total itemized deductions [4]	$642,433
State and local income taxes	$34,190
State and local general sales tax	$34,503
Real estate taxes	$105,768
Taxes paid	$161,562
Mortgage interest paid	$193,701
Contributions	$86,451
Taxable income	$6,599,524
Total tax credits [5]	$88,444
Residential energy tax credit	$0
Child tax credit	$67,548
Child and dependent care credit	$7,722
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$836,067
Total tax liability [9]	$914,463
Tax due at time of filing [10]	$112,037
Overpayments refunded [11]	($330,005)

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

Number of returns [1]	89
Number of joint returns	72
Number of returns with paid preparer's signature	43
Number of exemptions	203
Number of dependents	25
Adjust gross income (AGI) [2]	$7,744,765
Salaries and wages	$4,812,737
Taxable interest	$257,939
Ordinary dividends	$213,258
Business or professional net income (less loss)	$288,803
Net capital gain (less loss)	$107,718
Taxable individual retirement arrangements distributions	$141,066
Taxable pensions and annuities	$1,135,750
Unemployment compensation [3]	$0
Taxable Social Security benefits	$525,311
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,107,745
State and local income taxes	$0
State and local general sales tax	$42,610
Real estate taxes	$147,066
Taxes paid	$213,201
Mortgage interest paid	$332,274
Contributions	$113,198
Taxable income	$5,543,324
Total tax credits [5]	$50,471
Residential energy tax credit	$0
Child tax credit	$25,100
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]	$765,830
Total tax liability [9]	$843,417
Tax due at time of filing [10]	$54,828
Overpayments refunded [11]	($162,288)

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

Number of returns [1]	88
Number of joint returns	72
Number of returns with paid preparer's signature	56
Number of exemptions	220
Number of dependents	35
Adjust gross income (AGI) [2]	$11,443,343
Salaries and wages	$7,698,184
Taxable interest	$340,959
Ordinary dividends	$189,925
Business or professional net income (less loss)	$925,512
Net capital gain (less loss)	$262,576
Taxable individual retirement arrangements distributions	$473,797
Taxable pensions and annuities	$1,535,285
Unemployment compensation [3]	$0
Taxable Social Security benefits	$560,690
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,614,475
State and local income taxes	$89,883
State and local general sales tax	$98,303
Real estate taxes	$319,573
Taxes paid	$474,470
Mortgage interest paid	$598,151
Contributions	$195,613
Taxable income	$8,747,286
Total tax credits [5]	$40,135
Residential energy tax credit	$0
Child tax credit	$19,950
Child and dependent care credit	$6,880
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,551,342
Total tax liability [9]	$1,736,625
Tax due at time of filing [10]	$235,611
Overpayments refunded [11]	($289,053)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	37
Number of joint returns	30
Number of returns with paid preparer's signature	30
Number of exemptions	90
Number of dependents	13
Adjust gross income (AGI) [2]	$22,392,308
Salaries and wages	$7,972,571
Taxable interest	$391,295
Ordinary dividends	$373,264
Business or professional net income (less loss)	$218,793
Net capital gain (less loss)	$1,689,722
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]	$1,238,353
State and local income taxes	$0
State and local general sales tax	$116,551
Real estate taxes	$244,063
Taxes paid	$418,293
Mortgage interest paid	$521,574
Contributions	$263,249
Taxable income	$20,845,497
Total tax credits [5]	$12,088
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	$73,064
Income tax [8]	$5,809,424
Total tax liability [9]	$5,868,896
Tax due at time of filing [10]	$229,134
Overpayments refunded [11]	($92,302)

[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.