VALENCIA, CA 91355

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ZIP Code 91355 Income Tax Stats

Individual Income by ZIP Code -- Tax Statistics: 2008






91355 Income Tax Overview

Total Number of Tax Returns for ZIP Code 91355 [1] 15,084
Total Number of Joint Tax Returns for ZIP Code 91355 6,333
Total Number of Dependents for ZIP Code 91355 5,131
Total Adjusted Gross Income for ZIP Code 91355 1,228,107,246
Average Income per Person for ZIP Code 91355 $37,666

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] 2,299
Number of joint returns 224
Number of returns with paid preparer's signature 1,216
Number of exemptions 1,823
Number of dependents 187
Adjust gross income (AGI) [2] $5,547,934
Salaries and wages $11,918,368
Taxable interest $1,282,943
Ordinary dividends $706,460
Business or professional net income (less loss) $365,988
Net capital gain (less loss) ($179,677)
Taxable individual retirement arrangements distributions $477,687
Taxable pensions and annuities $1,314,391
Unemployment compensation [3] $208,229
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $8,530,402
State and local income taxes $415,461
State and local general sales tax $41,650
Real estate taxes $1,019,102
Taxes paid $1,526,578
Mortgage interest paid $4,557,444
Contributions $81,496
Taxable income $826,741
Total tax credits [5] $3,984
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $331,806
Excess earned income credit (refundable) [7] $239,644
Alternative minimum tax $0
Income tax [8] $83,734
Total tax liability [9] $486,146
Tax due at time of filing [10] $155,229
Overpayments refunded [11] ($1,759,128)

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

Number of returns [1] 2,057
Number of joint returns 294
Number of returns with paid preparer's signature 1,156
Number of exemptions 2,799
Number of dependents 411
Adjust gross income (AGI) [2] $35,226,948
Salaries and wages $26,140,046
Taxable interest $1,487,101
Ordinary dividends $881,351
Business or professional net income (less loss) $3,640,611
Net capital gain (less loss) $76,769
Taxable individual retirement arrangements distributions $1,049,732
Taxable pensions and annuities $3,009,885
Unemployment compensation [3] $690,083
Taxable Social Security benefits $219,926
Self-employment retirement plans $0
Total itemized deductions [4] $9,161,272
State and local income taxes $486,777
State and local general sales tax $118,255
Real estate taxes $1,203,312
Taxes paid $1,884,570
Mortgage interest paid $3,977,782
Contributions $537,912
Taxable income $11,609,237
Total tax credits [5] $172,468
Residential energy tax credit $0
Child tax credit $39,022
Child and dependent care credit $8,577
Earned income credit [6] $1,010,881
Excess earned income credit (refundable) [7] $743,203
Alternative minimum tax $0
Income tax [8] $1,078,278
Total tax liability [9] $1,756,761
Tax due at time of filing [10] $299,964
Overpayments refunded [11] ($2,789,114)

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

Number of returns [1] 2,582
Number of joint returns 619
Number of returns with paid preparer's signature 1,614
Number of exemptions 4,355
Number of dependents 708
Adjust gross income (AGI) [2] $95,113,456
Salaries and wages $73,327,054
Taxable interest $2,667,221
Ordinary dividends $1,349,726
Business or professional net income (less loss) $5,927,512
Net capital gain (less loss) ($87,907)
Taxable individual retirement arrangements distributions $2,474,893
Taxable pensions and annuities $6,716,951
Unemployment compensation [3] $1,336,206
Taxable Social Security benefits $2,560,754
Self-employment retirement plans $146,186
Total itemized deductions [4] $22,259,462
State and local income taxes $1,284,098
State and local general sales tax $297,849
Real estate taxes $2,917,216
Taxes paid $4,734,291
Mortgage interest paid $10,144,251
Contributions $1,653,314
Taxable income $49,414,254
Total tax credits [5] $739,773
Residential energy tax credit $0
Child tax credit $386,723
Child and dependent care credit $51,744
Earned income credit [6] $288,021
Excess earned income credit (refundable) [7] $192,154
Alternative minimum tax $0
Income tax [8] $5,659,733
Total tax liability [9] $6,819,730
Tax due at time of filing [10] $908,472
Overpayments refunded [11] ($4,358,233)

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

Number of returns [1] 2,266
Number of joint returns 894
Number of returns with paid preparer's signature 1,529
Number of exemptions 4,469
Number of dependents 783
Adjust gross income (AGI) [2] $140,850,562
Salaries and wages $111,145,948
Taxable interest $2,889,996
Ordinary dividends $1,649,768
Business or professional net income (less loss) $6,085,427
Net capital gain (less loss) ($100,426)
Taxable individual retirement arrangements distributions $3,530,968
Taxable pensions and annuities $10,035,777
Unemployment compensation [3] $1,229,829
Taxable Social Security benefits $4,716,089
Self-employment retirement plans $358,765
Total itemized deductions [4] $34,982,838
State and local income taxes $3,720,484
State and local general sales tax $254,274
Real estate taxes $4,579,883
Taxes paid $8,990,988
Mortgage interest paid $16,545,587
Contributions $2,670,149
Taxable income $84,214,658
Total tax credits [5] $1,041,968
Residential energy tax credit $0
Child tax credit $805,657
Child and dependent care credit $71,527
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $4,868
Income tax [8] $11,579,485
Total tax liability [9] $12,834,375
Tax due at time of filing [10] $1,260,998
Overpayments refunded [11] ($5,282,982)

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

Number of returns [1] 1,877
Number of joint returns 1,049
Number of returns with paid preparer's signature 1,339
Number of exemptions 4,314
Number of dependents 786
Adjust gross income (AGI) [2] $163,067,134
Salaries and wages $130,881,121
Taxable interest $3,279,226
Ordinary dividends $1,830,355
Business or professional net income (less loss) $5,400,539
Net capital gain (less loss) $263,049
Taxable individual retirement arrangements distributions $3,449,658
Taxable pensions and annuities $12,134,197
Unemployment compensation [3] $1,048,109
Taxable Social Security benefits $4,585,177
Self-employment retirement plans $169,480
Total itemized deductions [4] $42,808,274
State and local income taxes $6,018,334
State and local general sales tax $224,705
Real estate taxes $5,713,905
Taxes paid $12,413,553
Mortgage interest paid $20,205,859
Contributions $3,384,295
Taxable income $102,182,954
Total tax credits [5] $1,192,628
Residential energy tax credit $0
Child tax credit $877,249
Child and dependent care credit $67,867
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $32,867
Income tax [8] $15,020,066
Total tax liability [9] $16,119,813
Tax due at time of filing [10] $1,215,013
Overpayments refunded [11] ($5,724,519)

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

Number of returns [1] 3,113
Number of joint returns 2,473
Number of returns with paid preparer's signature 2,206
Number of exemptions 8,809
Number of dependents 1,760
Adjust gross income (AGI) [2] $426,900,005
Salaries and wages $358,219,069
Taxable interest $6,039,285
Ordinary dividends $4,060,136
Business or professional net income (less loss) $13,628,113
Net capital gain (less loss) $1,935,455
Taxable individual retirement arrangements distributions $6,286,099
Taxable pensions and annuities $22,459,236
Unemployment compensation [3] $1,415,083
Taxable Social Security benefits $5,863,834
Self-employment retirement plans $1,069,065
Total itemized deductions [4] $110,661,972
State and local income taxes $21,514,898
State and local general sales tax $276,626
Real estate taxes $13,958,800
Taxes paid $36,974,120
Mortgage interest paid $52,043,077
Contributions $9,454,874
Taxable income $283,577,793
Total tax credits [5] $1,475,306
Residential energy tax credit $16,938
Child tax credit $926,080
Child and dependent care credit $192,001
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $662,957
Income tax [8] $49,933,167
Total tax liability [9] $52,402,120
Tax due at time of filing [10] $4,041,944
Overpayments refunded [11] ($11,647,547)

Adjusted Gross Income: $200,000 or more

Number of returns [1] 890
Number of joint returns 780
Number of returns with paid preparer's signature 672
Number of exemptions 2,623
Number of dependents 496
Adjust gross income (AGI) [2] $361,401,207
Salaries and wages $230,172,619
Taxable interest $8,982,951
Ordinary dividends $5,802,061
Business or professional net income (less loss) $10,372,972
Net capital gain (less loss) $32,266,675
Taxable individual retirement arrangements distributions $2,190,973
Taxable pensions and annuities $7,418,419
Unemployment compensation [3] $342,389
Taxable Social Security benefits $1,955,969
Self-employment retirement plans $1,449,928
Total itemized deductions [4] $75,473,701
State and local income taxes $28,764,283
State and local general sales tax $44,832
Real estate taxes $6,529,620
Taxes paid $35,835,136
Mortgage interest paid $20,905,125
Contributions $7,447,512
Taxable income $279,605,329
Total tax credits [5] $443,763
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $29,298
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $4,597,211
Income tax [8] $74,694,311
Total tax liability [9] $76,402,145
Tax due at time of filing [10] $7,254,036
Overpayments refunded [11] ($5,401,402)

[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.