Home » Alaska » FAIRBANKS NORTH STAR County » ZIP Code 99702 » Tax Stats

99702 Income Tax Overview

Total Number of Tax Returns for ZIP Code 99702 [1]	1,324
Total Number of Joint Tax Returns for ZIP Code 99702	675
Total Number of Dependents for ZIP Code 99702	580
Total Adjusted Gross Income for ZIP Code 99702	45,178,151
Average Income per Person for ZIP Code 99702	$17,068

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]	179
Number of joint returns	0
Number of returns with paid preparer's signature	13
Number of exemptions	64
Number of dependents	0
Adjust gross income (AGI) [2]	$832,591
Salaries and wages	$476,588
Taxable interest	$5,988
Ordinary dividends	$0
Business or professional net income (less loss)	$0
Net capital gain (less loss)	($1,359)
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$0
Unemployment compensation [3]	$140,134
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$0
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$0
Mortgage interest paid	$0
Contributions	$0
Taxable income	$280,036
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	$0
Income tax [8]	$35,264
Total tax liability [9]	$35,410
Tax due at time of filing [10]	$36,444
Overpayments refunded [11]	($57,754)

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

Number of returns [1]	512
Number of joint returns	121
Number of returns with paid preparer's signature	46
Number of exemptions	773
Number of dependents	99
Adjust gross income (AGI) [2]	$9,062,865
Salaries and wages	$9,002,557
Taxable interest	$7,032
Ordinary dividends	$6,632
Business or professional net income (less loss)	$17,653
Net capital gain (less loss)	$0
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$6,204
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$0
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$0
Taxes paid	$0
Mortgage interest paid	$0
Contributions	$0
Taxable income	$3,294,927
Total tax credits [5]	$29,254
Residential energy tax credit	$0
Child tax credit	$2,449
Child and dependent care credit	$0
Earned income credit [6]	$323,989
Excess earned income credit (refundable) [7]	$318,321
Alternative minimum tax	$0
Income tax [8]	$329,523
Total tax liability [9]	$333,737
Tax due at time of filing [10]	$0
Overpayments refunded [11]	($1,076,285)

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

Number of returns [1]	339
Number of joint returns	278
Number of returns with paid preparer's signature	54
Number of exemptions	1,157
Number of dependents	258
Adjust gross income (AGI) [2]	$12,321,621
Salaries and wages	$11,822,490
Taxable interest	$29,243
Ordinary dividends	$28,657
Business or professional net income (less loss)	$57,057
Net capital gain (less loss)	$6,031
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$0
Unemployment compensation [3]	$120,991
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$436,595
State and local income taxes	$0
State and local general sales tax	$13,916
Real estate taxes	$42,110
Taxes paid	$62,127
Mortgage interest paid	$168,911
Contributions	$50,256
Taxable income	$4,761,643
Total tax credits [5]	$297,082
Residential energy tax credit	$0
Child tax credit	$203,805
Child and dependent care credit	$35,931
Earned income credit [6]	$227,858
Excess earned income credit (refundable) [7]	$223,553
Alternative minimum tax	$0
Income tax [8]	$244,244
Total tax liability [9]	$252,916
Tax due at time of filing [10]	$19,794
Overpayments refunded [11]	($1,426,551)

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

Number of returns [1]	164
Number of joint returns	154
Number of returns with paid preparer's signature	45
Number of exemptions	595
Number of dependents	130
Adjust gross income (AGI) [2]	$9,924,760
Salaries and wages	$9,265,376
Taxable interest	$50,131
Ordinary dividends	$10,833
Business or professional net income (less loss)	$49,371
Net capital gain (less loss)	$12,252
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$0
Unemployment compensation [3]	$120,724
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$319,324
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$33,929
Taxes paid	$50,706
Mortgage interest paid	$188,418
Contributions	$53,272
Taxable income	$5,935,431
Total tax credits [5]	$291,065
Residential energy tax credit	$0
Child tax credit	$232,667
Child and dependent care credit	$27,842
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$490,048
Total tax liability [9]	$507,021
Tax due at time of filing [10]	$0
Overpayments refunded [11]	($499,973)

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

Number of returns [1]	83
Number of joint returns	76
Number of returns with paid preparer's signature	18
Number of exemptions	299
Number of dependents	64
Adjust gross income (AGI) [2]	$7,099,879
Salaries and wages	$6,534,977
Taxable interest	$46,658
Ordinary dividends	$10,742
Business or professional net income (less loss)	$7,201
Net capital gain (less loss)	$19,225
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$0
Unemployment compensation [3]	$90,183
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$374,757
State and local income taxes	$0
State and local general sales tax	$17,034
Real estate taxes	$52,625
Taxes paid	$65,304
Mortgage interest paid	$184,196
Contributions	$76,053
Taxable income	$4,986,231
Total tax credits [5]	$160,098
Residential energy tax credit	$0
Child tax credit	$121,700
Child and dependent care credit	$23,654
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$552,093
Total tax liability [9]	$554,093
Tax due at time of filing [10]	$12,734
Overpayments refunded [11]	($252,856)

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

Number of returns [1]	47
Number of joint returns	46
Number of returns with paid preparer's signature	16
Number of exemptions	154
Number of dependents	29
Adjust gross income (AGI) [2]	$5,936,435
Salaries and wages	$5,199,091
Taxable interest	$46,509
Ordinary dividends	$49,688
Business or professional net income (less loss)	$0
Net capital gain (less loss)	$9,396
Taxable individual retirement arrangements distributions	$0
Taxable pensions and annuities	$362,008
Unemployment compensation [3]	$0
Taxable Social Security benefits	$0
Self-employment retirement plans	$0
Total itemized deductions [4]	$462,767
State and local income taxes	$0
State and local general sales tax	$0
Real estate taxes	$50,733
Taxes paid	$72,142
Mortgage interest paid	$247,779
Contributions	$111,357
Taxable income	$4,644,320
Total tax credits [5]	$52,339
Residential energy tax credit	$0
Child tax credit	$33,650
Child and dependent care credit	$0
Earned income credit [6]	$0
Excess earned income credit (refundable) [7]	$0
Alternative minimum tax	$0
Income tax [8]	$759,677
Total tax liability [9]	$764,439
Tax due at time of filing [10]	$46,847
Overpayments refunded [11]	($116,306)

[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.