Home » Arizona » MARICOPA County » PHOENIX, AZ » ZIP Code 85007 » Tax Stats

85007 Income Tax Overview

Total Number of Tax Returns for ZIP Code 85007 [1]	4,675
Total Number of Joint Tax Returns for ZIP Code 85007	1,117
Total Number of Dependents for ZIP Code 85007	2,201
Total Adjusted Gross Income for ZIP Code 85007	208,144,158
Average Income per Person for ZIP Code 85007	$14,825

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]	887
Number of joint returns	67
Number of returns with paid preparer's signature	472
Number of exemptions	1,327
Number of dependents	264
Adjust gross income (AGI) [2]	$3,537,734
Salaries and wages	$3,806,101
Taxable interest	$67,485
Ordinary dividends	$84,755
Business or professional net income (less loss)	$261,697
Net capital gain (less loss)	($16,863)
Taxable individual retirement arrangements distributions	$53,178
Taxable pensions and annuities	$187,343
Unemployment compensation [3]	$131,860
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,141,670
State and local income taxes	$17,238
State and local general sales tax	$8,386
Real estate taxes	$106,027
Taxes paid	$123,048
Mortgage interest paid	$587,198
Contributions	$14,890
Taxable income	$66,271
Total tax credits [5]	$0
Residential energy tax credit	$0
Child tax credit	$0
Child and dependent care credit	$0
Earned income credit [6]	$546,594
Excess earned income credit (refundable) [7]	$488,793
Alternative minimum tax	$0
Income tax [8]	$6,073
Total tax liability [9]	$107,278
Tax due at time of filing [10]	$29,913
Overpayments refunded [11]	($838,083)

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

Number of returns [1]	1,562
Number of joint returns	204
Number of returns with paid preparer's signature	1,064
Number of exemptions	3,695
Number of dependents	939
Adjust gross income (AGI) [2]	$26,989,930
Salaries and wages	$23,732,828
Taxable interest	$235,637
Ordinary dividends	$115,847
Business or professional net income (less loss)	$1,670,810
Net capital gain (less loss)	($20,997)
Taxable individual retirement arrangements distributions	$168,551
Taxable pensions and annuities	$912,124
Unemployment compensation [3]	$306,101
Taxable Social Security benefits	$49,926
Self-employment retirement plans	$0
Total itemized deductions [4]	$1,671,950
State and local income taxes	$23,424
State and local general sales tax	$31,597
Real estate taxes	$165,074
Taxes paid	$243,177
Mortgage interest paid	$797,314
Contributions	$149,620
Taxable income	$5,412,217
Total tax credits [5]	$146,607
Residential energy tax credit	$0
Child tax credit	$91,946
Child and dependent care credit	$6,698
Earned income credit [6]	$2,194,645
Excess earned income credit (refundable) [7]	$2,017,054
Alternative minimum tax	$0
Income tax [8]	$435,712
Total tax liability [9]	$722,565
Tax due at time of filing [10]	$107,856
Overpayments refunded [11]	($4,143,345)

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

Number of returns [1]	1,259
Number of joint returns	333
Number of returns with paid preparer's signature	787
Number of exemptions	3,219
Number of dependents	681
Adjust gross income (AGI) [2]	$43,435,624
Salaries and wages	$39,051,108
Taxable interest	$323,841
Ordinary dividends	$311,834
Business or professional net income (less loss)	$898,249
Net capital gain (less loss)	$6,292
Taxable individual retirement arrangements distributions	$488,630
Taxable pensions and annuities	$1,701,829
Unemployment compensation [3]	$116,496
Taxable Social Security benefits	$494,862
Self-employment retirement plans	$0
Total itemized deductions [4]	$5,247,037
State and local income taxes	$320,506
State and local general sales tax	$77,705
Real estate taxes	$367,213
Taxes paid	$838,191
Mortgage interest paid	$2,436,602
Contributions	$358,562
Taxable income	$20,041,117
Total tax credits [5]	$532,587
Residential energy tax credit	$0
Child tax credit	$425,584
Child and dependent care credit	$29,984
Earned income credit [6]	$429,129
Excess earned income credit (refundable) [7]	$374,121
Alternative minimum tax	$0
Income tax [8]	$1,974,069
Total tax liability [9]	$2,201,856
Tax due at time of filing [10]	$191,385
Overpayments refunded [11]	($3,061,558)

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

Number of returns [1]	374
Number of joint returns	132
Number of returns with paid preparer's signature	235
Number of exemptions	802
Number of dependents	128
Adjust gross income (AGI) [2]	$22,770,156
Salaries and wages	$18,981,954
Taxable interest	$341,258
Ordinary dividends	$285,526
Business or professional net income (less loss)	$578,500
Net capital gain (less loss)	$36,141
Taxable individual retirement arrangements distributions	$263,744
Taxable pensions and annuities	$1,454,227
Unemployment compensation [3]	$46,451
Taxable Social Security benefits	$691,214
Self-employment retirement plans	$53,498
Total itemized deductions [4]	$4,100,072
State and local income taxes	$436,585
State and local general sales tax	$72,366
Real estate taxes	$342,754
Taxes paid	$890,957
Mortgage interest paid	$1,948,589
Contributions	$366,713
Taxable income	$14,625,605
Total tax credits [5]	$229,924
Residential energy tax credit	$0
Child tax credit	$162,227
Child and dependent care credit	$13,332
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$2,012,110
Total tax liability [9]	$2,127,467
Tax due at time of filing [10]	$169,738
Overpayments refunded [11]	($971,829)

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

Number of returns [1]	196
Number of joint returns	99
Number of returns with paid preparer's signature	115
Number of exemptions	392
Number of dependents	52
Adjust gross income (AGI) [2]	$16,818,557
Salaries and wages	$13,573,379
Taxable interest	$237,743
Ordinary dividends	$223,717
Business or professional net income (less loss)	$546,194
Net capital gain (less loss)	$171,319
Taxable individual retirement arrangements distributions	$388,652
Taxable pensions and annuities	$1,087,732
Unemployment compensation [3]	$0
Taxable Social Security benefits	$569,831
Self-employment retirement plans	$0
Total itemized deductions [4]	$3,372,227
State and local income taxes	$478,316
State and local general sales tax	$0
Real estate taxes	$299,516
Taxes paid	$842,031
Mortgage interest paid	$1,699,311
Contributions	$341,293
Taxable income	$11,631,375
Total tax credits [5]	$93,259
Residential energy tax credit	$0
Child tax credit	$59,410
Child and dependent care credit	$7,379
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$1,780,933
Total tax liability [9]	$1,873,192
Tax due at time of filing [10]	$161,336
Overpayments refunded [11]	($528,498)

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

Number of returns [1]	287
Number of joint returns	193
Number of returns with paid preparer's signature	182
Number of exemptions	636
Number of dependents	93
Adjust gross income (AGI) [2]	$39,439,099
Salaries and wages	$30,598,910
Taxable interest	$913,467
Ordinary dividends	$856,284
Business or professional net income (less loss)	$585,351
Net capital gain (less loss)	$504,976
Taxable individual retirement arrangements distributions	$603,907
Taxable pensions and annuities	$2,431,667
Unemployment compensation [3]	$0
Taxable Social Security benefits	$710,301
Self-employment retirement plans	$0
Total itemized deductions [4]	$7,860,719
State and local income taxes	$1,370,677
State and local general sales tax	$33,890
Real estate taxes	$697,291
Taxes paid	$2,200,276
Mortgage interest paid	$3,700,603
Contributions	$759,820
Taxable income	$29,091,854
Total tax credits [5]	$96,806
Residential energy tax credit	$0
Child tax credit	$44,800
Child and dependent care credit	$12,857
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$5,441,704
Total tax liability [9]	$5,703,490
Tax due at time of filing [10]	$467,420
Overpayments refunded [11]	($1,060,735)

Adjusted Gross Income: $200,000 or more

Number of returns [1]	110
Number of joint returns	89
Number of returns with paid preparer's signature	77
Number of exemptions	278
Number of dependents	44
Adjust gross income (AGI) [2]	$55,153,058
Salaries and wages	$24,584,427
Taxable interest	$1,338,199
Ordinary dividends	$2,036,326
Business or professional net income (less loss)	$149,684
Net capital gain (less loss)	$8,085,936
Taxable individual retirement arrangements distributions	$502,137
Taxable pensions and annuities	$1,643,951
Unemployment compensation [3]	$0
Taxable Social Security benefits	$503,606
Self-employment retirement plans	$415,995
Total itemized deductions [4]	$6,692,419
State and local income taxes	$2,281,280
State and local general sales tax	$0
Real estate taxes	$610,397
Taxes paid	$2,967,018
Mortgage interest paid	$1,879,173
Contributions	$1,562,983
Taxable income	$47,653,219
Total tax credits [5]	$31,232
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	$312,259
Income tax [8]	$11,580,887
Total tax liability [9]	$11,973,602
Tax due at time of filing [10]	$2,179,688
Overpayments refunded [11]	($522,250)

[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.