Home » Texas » TRAVIS County » ZIP Code 78741 » Tax Stats

78741 Income Tax Overview

Total Number of Tax Returns for ZIP Code 78741 [1]	16,109
Total Number of Joint Tax Returns for ZIP Code 78741	2,489
Total Number of Dependents for ZIP Code 78741	6,074
Total Adjusted Gross Income for ZIP Code 78741	405,969,245
Average Income per Person for ZIP Code 78741	$9,035

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]	3,822
Number of joint returns	190
Number of returns with paid preparer's signature	1,321
Number of exemptions	4,796
Number of dependents	887
Adjust gross income (AGI) [2]	$18,644,412
Salaries and wages	$18,151,829
Taxable interest	$188,814
Ordinary dividends	$143,662
Business or professional net income (less loss)	$583,800
Net capital gain (less loss)	($57,761)
Taxable individual retirement arrangements distributions	$60,260
Taxable pensions and annuities	$344,668
Unemployment compensation [3]	$109,116
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$678,492
State and local income taxes	$11,848
State and local general sales tax	$11,968
Real estate taxes	$88,157
Taxes paid	$120,261
Mortgage interest paid	$250,987
Contributions	$9,315
Taxable income	$648,809
Total tax credits [5]	$1,463
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$1,811,478
Excess earned income credit (refundable) [7]	$1,657,001
Alternative minimum tax	$0
Income tax [8]	$62,672
Total tax liability [9]	$379,169
Tax due at time of filing [10]	$125,573
Overpayments refunded [11]	($3,148,868)

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

Number of returns [1]	6,075
Number of joint returns	653
Number of returns with paid preparer's signature	2,801
Number of exemptions	11,890
Number of dependents	2,717
Adjust gross income (AGI) [2]	$105,568,321
Salaries and wages	$97,600,509
Taxable interest	$231,178
Ordinary dividends	$116,020
Business or professional net income (less loss)	$5,545,246
Net capital gain (less loss)	($3,430)
Taxable individual retirement arrangements distributions	$282,106
Taxable pensions and annuities	$2,004,510
Unemployment compensation [3]	$776,807
Taxable Social Security benefits	$35,886
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,605,628
State and local income taxes	$30,291
State and local general sales tax	$63,088
Real estate taxes	$236,417
Taxes paid	$347,570
Mortgage interest paid	$588,059
Contributions	$82,643
Taxable income	$31,254,931
Total tax credits [5]	$702,187
Residential energy tax credit	$0
Child tax credit	$306,029
Child and dependent care credit	$30,501
Earned income credit [6]	$5,896,061
Excess earned income credit (refundable) [7]	$5,373,615
Alternative minimum tax	$0
Income tax [8]	$2,729,518
Total tax liability [9]	$3,596,010
Tax due at time of filing [10]	$344,357
Overpayments refunded [11]	($13,402,340)

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

Number of returns [1]	4,766
Number of joint returns	1,038
Number of returns with paid preparer's signature	1,928
Number of exemptions	10,447
Number of dependents	2,056
Adjust gross income (AGI) [2]	$163,470,925
Salaries and wages	$155,269,192
Taxable interest	$542,498
Ordinary dividends	$433,101
Business or professional net income (less loss)	$2,934,354
Net capital gain (less loss)	$12,848
Taxable individual retirement arrangements distributions	$497,262
Taxable pensions and annuities	$3,528,794
Unemployment compensation [3]	$529,565
Taxable Social Security benefits	$792,654
Self-employment retirement plans	$87,314
Total itemized deductions [4]	$5,613,199
State and local income taxes	$65,777
State and local general sales tax	$290,509
Real estate taxes	$958,441
Taxes paid	$1,394,323
Mortgage interest paid	$2,287,893
Contributions	$387,319
Taxable income	$90,349,707
Total tax credits [5]	$1,951,373
Residential energy tax credit	$0
Child tax credit	$1,457,743
Child and dependent care credit	$88,836
Earned income credit [6]	$1,155,517
Excess earned income credit (refundable) [7]	$1,012,394
Alternative minimum tax	$0
Income tax [8]	$9,637,338
Total tax liability [9]	$10,117,630
Tax due at time of filing [10]	$632,542
Overpayments refunded [11]	($10,126,401)

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

Number of returns [1]	907
Number of joint returns	293
Number of returns with paid preparer's signature	306
Number of exemptions	1,712
Number of dependents	262
Adjust gross income (AGI) [2]	$53,972,063
Salaries and wages	$47,053,732
Taxable interest	$473,361
Ordinary dividends	$208,642
Business or professional net income (less loss)	$1,542,774
Net capital gain (less loss)	$101,528
Taxable individual retirement arrangements distributions	$443,367
Taxable pensions and annuities	$3,049,053
Unemployment compensation [3]	$95,233
Taxable Social Security benefits	$965,755
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,574,193
State and local income taxes	$67,966
State and local general sales tax	$192,475
Real estate taxes	$824,340
Taxes paid	$1,133,736
Mortgage interest paid	$1,876,278
Contributions	$351,056
Taxable income	$38,390,982
Total tax credits [5]	$371,716
Residential energy tax credit	$0
Child tax credit	$297,355
Child and dependent care credit	$20,405
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$5,606,407
Total tax liability [9]	$5,897,111
Tax due at time of filing [10]	$445,978
Overpayments refunded [11]	($1,881,593)

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

Number of returns [1]	324
Number of joint returns	175
Number of returns with paid preparer's signature	135
Number of exemptions	654
Number of dependents	88
Adjust gross income (AGI) [2]	$27,978,613
Salaries and wages	$22,894,067
Taxable interest	$581,377
Ordinary dividends	$308,249
Business or professional net income (less loss)	$856,945
Net capital gain (less loss)	$42,217
Taxable individual retirement arrangements distributions	$296,882
Taxable pensions and annuities	$2,275,866
Unemployment compensation [3]	$127,973
Taxable Social Security benefits	$557,832
Self-employment retirement plans	$0
Total itemized deductions [4]	$2,719,509
State and local income taxes	$63,383
State and local general sales tax	$166,137
Real estate taxes	$504,911
Taxes paid	$771,250
Mortgage interest paid	$1,132,158
Contributions	$384,945
Taxable income	$21,368,304
Total tax credits [5]	$154,358
Residential energy tax credit	$0
Child tax credit	$101,529
Child and dependent care credit	$8,456
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$3,417,054
Total tax liability [9]	$3,606,808
Tax due at time of filing [10]	$274,990
Overpayments refunded [11]	($713,962)

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

Number of returns [1]	181
Number of joint returns	119
Number of returns with paid preparer's signature	99
Number of exemptions	392
Number of dependents	64
Adjust gross income (AGI) [2]	$23,017,836
Salaries and wages	$17,391,819
Taxable interest	$421,724
Ordinary dividends	$180,592
Business or professional net income (less loss)	$1,302,631
Net capital gain (less loss)	$451,627
Taxable individual retirement arrangements distributions	$260,241
Taxable pensions and annuities	$2,415,456
Unemployment compensation [3]	$0
Taxable Social Security benefits	$578,067
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,895,211
State and local income taxes	$100,796
State and local general sales tax	$143,927
Real estate taxes	$359,821
Taxes paid	$604,748
Mortgage interest paid	$853,563
Contributions	$202,299
Taxable income	$18,940,098
Total tax credits [5]	$73,618
Residential energy tax credit	$0
Child tax credit	$28,000
Child and dependent care credit	$4,037
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$3,567,987
Total tax liability [9]	$3,748,960
Tax due at time of filing [10]	$333,390
Overpayments refunded [11]	($473,889)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	34
Number of joint returns	21
Number of returns with paid preparer's signature	25
Number of exemptions	72
Number of dependents	0
Adjust gross income (AGI) [2]	$13,317,075
Salaries and wages	$6,559,171
Taxable interest	$219,327
Ordinary dividends	$234,660
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$1,812,961
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]	$894,570
State and local income taxes	$0
State and local general sales tax	$60,181
Real estate taxes	$180,216
Taxes paid	$252,327
Mortgage interest paid	$219,495
Contributions	$232,395
Taxable income	$12,121,064
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	$36,281
Income tax [8]	$2,957,010
Total tax liability [9]	$3,075,334
Tax due at time of filing [10]	$657,342
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.