EDWARDS, CO 81632

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ZIP Code 81632 Income Tax Stats

Individual Income by ZIP Code -- Tax Statistics: 2008



81632 Income Tax Overview

Total Number of Tax Returns for ZIP Code 81632 [1] 3,575
Total Number of Joint Tax Returns for ZIP Code 81632 1,472
Total Number of Dependents for ZIP Code 81632 1,226
Total Adjusted Gross Income for ZIP Code 81632 435,643,829
Average Income per Person for ZIP Code 81632 $42,394

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] 509
Number of joint returns 64
Number of returns with paid preparer's signature 322
Number of exemptions 474
Number of dependents 71
Adjust gross income (AGI) [2] ($122,630)
Salaries and wages $3,539,472
Taxable interest $1,041,106
Ordinary dividends $527,068
Business or professional net income (less loss) ($768,690)
Net capital gain (less loss) $64,800
Taxable individual retirement arrangements distributions $122,766
Taxable pensions and annuities $91,112
Unemployment compensation [3] $50,723
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $4,904,437
State and local income taxes $404,645
State and local general sales tax $4,314
Real estate taxes $671,345
Taxes paid $1,155,309
Mortgage interest paid $2,574,990
Contributions $35,308
Taxable income $224,886
Total tax credits [5] $647
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $85,159
Excess earned income credit (refundable) [7] $74,883
Alternative minimum tax $0
Income tax [8] $20,453
Total tax liability [9] $105,252
Tax due at time of filing [10] $43,776
Overpayments refunded [11] ($560,681)

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

Number of returns [1] 539
Number of joint returns 95
Number of returns with paid preparer's signature 341
Number of exemptions 999
Number of dependents 194
Adjust gross income (AGI) [2] $9,643,364
Salaries and wages $8,195,996
Taxable interest $324,006
Ordinary dividends $375,020
Business or professional net income (less loss) $1,078,000
Net capital gain (less loss) $116,684
Taxable individual retirement arrangements distributions $145,493
Taxable pensions and annuities $136,379
Unemployment compensation [3] $0
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $3,157,499
State and local income taxes $184,067
State and local general sales tax $15,179
Real estate taxes $250,070
Taxes paid $484,390
Mortgage interest paid $1,135,759
Contributions $107,423
Taxable income $2,803,628
Total tax credits [5] $48,243
Residential energy tax credit $0
Child tax credit $18,886
Child and dependent care credit $0
Earned income credit [6] $251,832
Excess earned income credit (refundable) [7] $207,895
Alternative minimum tax $0
Income tax [8] $259,604
Total tax liability [9] $450,628
Tax due at time of filing [10] $80,528
Overpayments refunded [11] ($966,838)

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

Number of returns [1] 893
Number of joint returns 206
Number of returns with paid preparer's signature 496
Number of exemptions 1,843
Number of dependents 301
Adjust gross income (AGI) [2] $33,380,255
Salaries and wages $29,852,950
Taxable interest $481,320
Ordinary dividends $700,109
Business or professional net income (less loss) $1,249,011
Net capital gain (less loss) $3,287
Taxable individual retirement arrangements distributions $344,390
Taxable pensions and annuities $536,493
Unemployment compensation [3] $243,677
Taxable Social Security benefits $351,767
Self-employment retirement plans $0
Total itemized deductions [4] $6,098,874
State and local income taxes $464,142
State and local general sales tax $27,870
Real estate taxes $512,780
Taxes paid $1,054,326
Mortgage interest paid $3,108,543
Contributions $298,671
Taxable income $17,579,553
Total tax credits [5] $264,527
Residential energy tax credit $0
Child tax credit $204,914
Child and dependent care credit $10,236
Earned income credit [6] $63,532
Excess earned income credit (refundable) [7] $51,819
Alternative minimum tax $0
Income tax [8] $2,021,058
Total tax liability [9] $2,261,576
Tax due at time of filing [10] $195,554
Overpayments refunded [11] ($1,979,071)

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

Number of returns [1] 466
Number of joint returns 194
Number of returns with paid preparer's signature 285
Number of exemptions 1,035
Number of dependents 168
Adjust gross income (AGI) [2] $28,546,691
Salaries and wages $24,294,225
Taxable interest $551,440
Ordinary dividends $842,199
Business or professional net income (less loss) $1,345,633
Net capital gain (less loss) $312,265
Taxable individual retirement arrangements distributions $493,593
Taxable pensions and annuities $563,605
Unemployment compensation [3] $137,403
Taxable Social Security benefits $287,097
Self-employment retirement plans $111,498
Total itemized deductions [4] $7,814,160
State and local income taxes $794,663
State and local general sales tax $15,923
Real estate taxes $688,289
Taxes paid $1,595,791
Mortgage interest paid $3,896,503
Contributions $354,373
Taxable income $16,835,507
Total tax credits [5] $251,343
Residential energy tax credit $0
Child tax credit $206,803
Child and dependent care credit $14,393
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $2,253,374
Total tax liability [9] $2,528,810
Tax due at time of filing [10] $204,869
Overpayments refunded [11] ($1,398,693)

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

Number of returns [1] 297
Number of joint returns 190
Number of returns with paid preparer's signature 184
Number of exemptions 688
Number of dependents 114
Adjust gross income (AGI) [2] $25,658,701
Salaries and wages $17,942,113
Taxable interest $813,763
Ordinary dividends $1,715,922
Business or professional net income (less loss) $1,543,900
Net capital gain (less loss) $307,977
Taxable individual retirement arrangements distributions $762,251
Taxable pensions and annuities $915,947
Unemployment compensation [3] $63,477
Taxable Social Security benefits $700,559
Self-employment retirement plans $0
Total itemized deductions [4] $7,700,980
State and local income taxes $1,083,373
State and local general sales tax $0
Real estate taxes $815,631
Taxes paid $1,992,068
Mortgage interest paid $3,994,937
Contributions $536,639
Taxable income $15,418,784
Total tax credits [5] $190,167
Residential energy tax credit $0
Child tax credit $137,478
Child and dependent care credit $15,125
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $2,063,978
Total tax liability [9] $2,351,539
Tax due at time of filing [10] $195,769
Overpayments refunded [11] ($1,096,458)

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

Number of returns [1] 510
Number of joint returns 416
Number of returns with paid preparer's signature 381
Number of exemptions 1,317
Number of dependents 209
Adjust gross income (AGI) [2] $71,575,104
Salaries and wages $43,767,576
Taxable interest $2,580,848
Ordinary dividends $4,162,516
Business or professional net income (less loss) $5,041,297
Net capital gain (less loss) $1,706,437
Taxable individual retirement arrangements distributions $3,396,395
Taxable pensions and annuities $2,670,972
Unemployment compensation [3] $42,976
Taxable Social Security benefits $1,355,364
Self-employment retirement plans $342,350
Total itemized deductions [4] $19,918,157
State and local income taxes $3,522,112
State and local general sales tax $52,473
Real estate taxes $2,211,998
Taxes paid $5,952,412
Mortgage interest paid $9,165,373
Contributions $1,829,496
Taxable income $47,227,538
Total tax credits [5] $274,367
Residential energy tax credit $0
Child tax credit $112,186
Child and dependent care credit $36,572
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $132,434
Income tax [8] $8,127,883
Total tax liability [9] $8,885,128
Tax due at time of filing [10] $964,942
Overpayments refunded [11] ($3,066,339)

Adjusted Gross Income: $200,000 or more

Number of returns [1] 361
Number of joint returns 307
Number of returns with paid preparer's signature 319
Number of exemptions 1,007
Number of dependents 169
Adjust gross income (AGI) [2] $266,962,344
Salaries and wages $85,706,309
Taxable interest $10,086,161
Ordinary dividends $17,396,148
Business or professional net income (less loss) $10,980,524
Net capital gain (less loss) $77,611,026
Taxable individual retirement arrangements distributions $6,291,231
Taxable pensions and annuities $4,577,792
Unemployment compensation [3] $0
Taxable Social Security benefits $1,701,718
Self-employment retirement plans $591,147
Total itemized deductions [4] $48,266,895
State and local income taxes $14,766,991
State and local general sales tax $0
Real estate taxes $4,792,779
Taxes paid $19,981,009
Mortgage interest paid $11,265,925
Contributions $7,250,109
Taxable income $221,272,547
Total tax credits [5] $808,060
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $14,543
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $2,735,896
Income tax [8] $55,408,048
Total tax liability [9] $56,459,333
Tax due at time of filing [10] $4,803,151
Overpayments refunded [11] ($4,538,640)

[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.