Home » Texas » TRAVIS County » ZIP Code 78756 » Tax Stats

78756 Income Tax Overview

Total Number of Tax Returns for ZIP Code 78756 [1]	3,980
Total Number of Joint Tax Returns for ZIP Code 78756	976
Total Number of Dependents for ZIP Code 78756	725
Total Adjusted Gross Income for ZIP Code 78756	279,762,544
Average Income per Person for ZIP Code 78756	$38,888

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]	573
Number of joint returns	31
Number of returns with paid preparer's signature	178
Number of exemptions	497
Number of dependents	33
Adjust gross income (AGI) [2]	$1,949,100
Salaries and wages	$2,272,890
Taxable interest	$200,954
Ordinary dividends	$153,274
Business or professional net income (less loss)	($348,952)
Net capital gain (less loss)	($65,618)
Taxable individual retirement arrangements distributions	$136,205
Taxable pensions and annuities	$136,759
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$913,074
State and local income taxes	$0
State and local general sales tax	$18,438
Real estate taxes	$213,662
Taxes paid	$236,675
Mortgage interest paid	$340,973
Contributions	$21,196
Taxable income	$139,404
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$85,595
Excess earned income credit (refundable) [7]	$66,035
Alternative minimum tax	$0
Income tax [8]	$12,917
Total tax liability [9]	$92,133
Tax due at time of filing [10]	$43,421
Overpayments refunded [11]	($412,065)

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

Number of returns [1]	788
Number of joint returns	48
Number of returns with paid preparer's signature	211
Number of exemptions	908
Number of dependents	72
Adjust gross income (AGI) [2]	$13,995,578
Salaries and wages	$11,143,107
Taxable interest	$287,966
Ordinary dividends	$216,265
Business or professional net income (less loss)	$1,344,500
Net capital gain (less loss)	$147,994
Taxable individual retirement arrangements distributions	$118,785
Taxable pensions and annuities	$1,010,938
Unemployment compensation [3]	$63,640
Taxable Social Security benefits	$31,212
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,228,220
State and local income taxes	$0
State and local general sales tax	$33,541
Real estate taxes	$234,244
Taxes paid	$271,144
Mortgage interest paid	$423,144
Contributions	$78,532
Taxable income	$6,020,693
Total tax credits [5]	$82,955
Residential energy tax credit	$0
Child tax credit	$7,254
Child and dependent care credit	$0
Earned income credit [6]	$177,387
Excess earned income credit (refundable) [7]	$134,200
Alternative minimum tax	$0
Income tax [8]	$579,810
Total tax liability [9]	$833,993
Tax due at time of filing [10]	$127,210
Overpayments refunded [11]	($821,978)

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

Number of returns [1]	1,026
Number of joint returns	89
Number of returns with paid preparer's signature	253
Number of exemptions	1,262
Number of dependents	95
Adjust gross income (AGI) [2]	$36,832,719
Salaries and wages	$30,195,166
Taxable interest	$604,733
Ordinary dividends	$605,527
Business or professional net income (less loss)	$2,132,455
Net capital gain (less loss)	$77,473
Taxable individual retirement arrangements distributions	$404,196
Taxable pensions and annuities	$2,032,152
Unemployment compensation [3]	$145,887
Taxable Social Security benefits	$637,155
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,189,233
State and local income taxes	$25,633
State and local general sales tax	$116,616
Real estate taxes	$706,016
Taxes paid	$874,976
Mortgage interest paid	$1,022,464
Contributions	$250,762
Taxable income	$24,389,457
Total tax credits [5]	$172,306
Residential energy tax credit	$0
Child tax credit	$55,334
Child and dependent care credit	$9,738
Earned income credit [6]	$33,913
Excess earned income credit (refundable) [7]	$21,388
Alternative minimum tax	$0
Income tax [8]	$3,053,668
Total tax liability [9]	$3,400,249
Tax due at time of filing [10]	$315,869
Overpayments refunded [11]	($1,228,506)

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

Number of returns [1]	503
Number of joint returns	141
Number of returns with paid preparer's signature	175
Number of exemptions	800
Number of dependents	104
Adjust gross income (AGI) [2]	$30,499,934
Salaries and wages	$24,687,417
Taxable interest	$677,674
Ordinary dividends	$419,772
Business or professional net income (less loss)	$2,115,152
Net capital gain (less loss)	$104,319
Taxable individual retirement arrangements distributions	$473,594
Taxable pensions and annuities	$1,478,090
Unemployment compensation [3]	$85,288
Taxable Social Security benefits	$637,979
Self-employment retirement plans	$175,084
Total itemized deductions [4]	$3,913,266
State and local income taxes	$55,790
State and local general sales tax	$213,967
Real estate taxes	$1,028,121
Taxes paid	$1,332,032
Mortgage interest paid	$1,617,719
Contributions	$312,874
Taxable income	$21,785,790
Total tax credits [5]	$160,023
Residential energy tax credit	$0
Child tax credit	$101,877
Child and dependent care credit	$7,570
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$3,279,926
Total tax liability [9]	$3,654,360
Tax due at time of filing [10]	$313,459
Overpayments refunded [11]	($1,096,815)

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

Number of returns [1]	306
Number of joint returns	128
Number of returns with paid preparer's signature	130
Number of exemptions	572
Number of dependents	96
Adjust gross income (AGI) [2]	$26,734,951
Salaries and wages	$20,110,908
Taxable interest	$563,076
Ordinary dividends	$675,448
Business or professional net income (less loss)	$1,883,200
Net capital gain (less loss)	$629,523
Taxable individual retirement arrangements distributions	$437,031
Taxable pensions and annuities	$1,072,869
Unemployment compensation [3]	$34,603
Taxable Social Security benefits	$470,462
Self-employment retirement plans	$0
Total itemized deductions [4]	$4,235,269
State and local income taxes	$61,104
State and local general sales tax	$228,236
Real estate taxes	$1,073,366
Taxes paid	$1,397,788
Mortgage interest paid	$1,753,794
Contributions	$399,909
Taxable income	$19,787,276
Total tax credits [5]	$156,537
Residential energy tax credit	$0
Child tax credit	$94,550
Child and dependent care credit	$12,691
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$3,177,192
Total tax liability [9]	$3,493,532
Tax due at time of filing [10]	$241,911
Overpayments refunded [11]	($709,360)

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

Number of returns [1]	545
Number of joint returns	364
Number of returns with paid preparer's signature	234
Number of exemptions	1,262
Number of dependents	214
Adjust gross income (AGI) [2]	$74,731,778
Salaries and wages	$58,963,577
Taxable interest	$1,238,571
Ordinary dividends	$1,507,437
Business or professional net income (less loss)	$5,659,418
Net capital gain (less loss)	$1,411,238
Taxable individual retirement arrangements distributions	$535,066
Taxable pensions and annuities	$2,944,888
Unemployment compensation [3]	$48,270
Taxable Social Security benefits	$798,744
Self-employment retirement plans	$541,253
Total itemized deductions [4]	$10,833,897
State and local income taxes	$143,637
State and local general sales tax	$726,691
Real estate taxes	$2,941,612
Taxes paid	$3,889,944
Mortgage interest paid	$4,931,397
Contributions	$966,481
Taxable income	$58,438,164
Total tax credits [5]	$207,496
Residential energy tax credit	$0
Child tax credit	$93,050
Child and dependent care credit	$29,430
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$40,621
Income tax [8]	$11,079,588
Total tax liability [9]	$11,960,860
Tax due at time of filing [10]	$858,649
Overpayments refunded [11]	($1,639,273)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	239
Number of joint returns	175
Number of returns with paid preparer's signature	157
Number of exemptions	603
Number of dependents	111
Adjust gross income (AGI) [2]	$95,018,484
Salaries and wages	$52,270,512
Taxable interest	$1,537,844
Ordinary dividends	$4,095,631
Business or professional net income (less loss)	$4,549,353
Net capital gain (less loss)	$3,721,926
Taxable individual retirement arrangements distributions	$99,441
Taxable pensions and annuities	$1,183,321
Unemployment compensation [3]	$0
Taxable Social Security benefits	$395,127
Self-employment retirement plans	$937,152
Total itemized deductions [4]	$7,678,716
State and local income taxes	$334,589
State and local general sales tax	$534,576
Real estate taxes	$2,085,479
Taxes paid	$2,994,200
Mortgage interest paid	$3,318,260
Contributions	$1,190,817
Taxable income	$85,245,030
Total tax credits [5]	$345,224
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$21,565
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$298,265
Income tax [8]	$21,624,017
Total tax liability [9]	$22,458,890
Tax due at time of filing [10]	$2,924,740
Overpayments refunded [11]	($974,284)

[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.