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ZIP Code Database - Facts & Stats

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FRANKLIN, MA IRS Tax Stats



FRANKLIN, MA Income Tax Overview

2010 Population for FRANKLIN, MA 0
Total Number of Tax Returns for FRANKLIN, MA [1] 34,042
Total Number of Joint Tax Returns for FRANKLIN, MA 12,632
Total Number of Dependents for FRANKLIN, MA 9,448
Total Adjusted Gross Income for FRANKLIN, MA $1,460,915,062

The following tables break down the Income Tax Statistics into different Gross Income levels.


Adjusted Gross Income: Under $10,000 [1]

Number of tax returns [1] 6,292
Number of joint returns 438
Number of returns with paid preparer's signature 2,820
Number of exemptions 5,621
Number of dependents 604
Adjust gross income (AGI) [2] $24,440,431
Salaries and wages $23,214,071
Taxable interest $1,580,504
Ordinary dividends $1,456,462
Business or professional net income (less loss) $2,027,247
Net capital gain (less loss)
Taxable individual retirement arrangements distributions $653,642
Taxable pensions and annuities $2,322,635
Unemployment compensation [3] $459,461
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $6,276,742
State and local income taxes $209,286
State and local general sales tax $30,240
Real estate taxes $1,040,302
Taxes paid $1,438,991
Mortgage interest paid $1,506,607
Contributions $67,635
Taxable income $1,822,866
Total tax credits [5] $549
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $1,474,465
Excess earned income credit (refundable) [7] $1,252,029
Alternative minimum tax $0
Income tax [8] $168,929
Total tax liability [9] $783,191
Tax due at time of filing [10] $256,355
Overpayments refunded [11]

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

Number of tax returns [1] 7,295
Number of joint returns 1,248
Number of returns with paid preparer's signature 3,591
Number of exemptions 10,370
Number of dependents 1,525
Adjust gross income (AGI) [2] $125,841,461
Salaries and wages $89,056,974
Taxable interest $4,345,266
Ordinary dividends $2,767,730
Business or professional net income (less loss) $9,706,753
Net capital gain (less loss)
Taxable individual retirement arrangements distributions $3,982,474
Taxable pensions and annuities $14,879,570
Unemployment compensation [3] $3,198,901
Taxable Social Security benefits $421,235
Self-employment retirement plans $0
Total itemized deductions [4] $13,639,280
State and local income taxes $814,896
State and local general sales tax $86,006
Real estate taxes $2,500,048
Taxes paid $3,550,392
Mortgage interest paid $3,779,232
Contributions $591,479
Taxable income $41,813,249
Total tax credits [5] $548,797
Residential energy tax credit $0
Child tax credit $114,450
Child and dependent care credit $16,593
Earned income credit [6] $4,310,059
Excess earned income credit (refundable) [7] $3,750,184
Alternative minimum tax $0
Income tax [8] $3,983,425
Total tax liability [9] $5,704,067
Tax due at time of filing [10] $766,475
Overpayments refunded [11]

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

Number of tax returns [1] 8,966
Number of joint returns 2,494
Number of returns with paid preparer's signature 4,793
Number of exemptions 15,188
Number of dependents 2,321
Adjust gross income (AGI) [2] $326,190,193
Salaries and wages $255,984,863
Taxable interest $6,546,834
Ordinary dividends $5,403,302
Business or professional net income (less loss) $14,506,031
Net capital gain (less loss) $1,108,099
Taxable individual retirement arrangements distributions $6,716,156
Taxable pensions and annuities $27,845,034
Unemployment compensation [3] $4,648,103
Taxable Social Security benefits $7,513,337
Self-employment retirement plans $183,665
Total itemized deductions [4] $37,200,579
State and local income taxes $4,980,504
State and local general sales tax $55,925
Real estate taxes $7,508,940
Taxes paid $12,948,294
Mortgage interest paid $14,690,659
Contributions $2,070,628
Taxable income $188,550,202
Total tax credits [5] $2,536,449
Residential energy tax credit $0
Child tax credit $1,589,035
Child and dependent care credit $120,730
Earned income credit [6] $1,134,564
Excess earned income credit (refundable) [7] $809,497
Alternative minimum tax $0
Income tax [8] $21,261,263
Total tax liability [9] $25,082,075
Tax due at time of filing [10] $1,615,043
Overpayments refunded [11]

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

Number of tax returns [1] 5,473
Number of joint returns 3,389
Number of returns with paid preparer's signature 3,253
Number of exemptions 12,552
Number of dependents 2,142
Adjust gross income (AGI) [2] $337,407,426
Salaries and wages $263,490,934
Taxable interest $6,142,371
Ordinary dividends $5,417,688
Business or professional net income (less loss) $13,391,622
Net capital gain (less loss) $1,677,203
Taxable individual retirement arrangements distributions $6,309,451
Taxable pensions and annuities $27,992,163
Unemployment compensation [3] $3,128,770
Taxable Social Security benefits $12,301,606
Self-employment retirement plans $688,539
Total itemized deductions [4] $47,299,465
State and local income taxes $8,638,512
State and local general sales tax $18,093
Real estate taxes $8,914,528
Taxes paid $18,176,079
Mortgage interest paid $19,490,307
Contributions $2,727,885
Taxable income $219,851,238
Total tax credits [5] $3,443,910
Residential energy tax credit $0
Child tax credit $2,547,125
Child and dependent care credit $188,479
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $27,505,725
Total tax liability [9] $30,156,350
Tax due at time of filing [10] $2,158,063
Overpayments refunded [11]

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

Number of tax returns [1] 3,178
Number of joint returns 2,563
Number of returns with paid preparer's signature 1,916
Number of exemptions 8,245
Number of dependents 1,452
Adjust gross income (AGI) [2] $273,681,961
Salaries and wages $218,232,773
Taxable interest $3,973,129
Ordinary dividends $3,456,714
Business or professional net income (less loss) $9,628,911
Net capital gain (less loss) $2,320,772
Taxable individual retirement arrangements distributions $4,166,089
Taxable pensions and annuities $19,807,037
Unemployment compensation [3] $1,628,717
Taxable Social Security benefits $6,832,562
Self-employment retirement plans $0
Total itemized deductions [4] $41,426,725
State and local income taxes $9,385,606
State and local general sales tax $0
Real estate taxes $7,601,357
Taxes paid $17,566,030
Mortgage interest paid $16,023,648
Contributions $2,926,444
Taxable income $192,080,687
Total tax credits [5] $2,574,862
Residential energy tax credit $0
Child tax credit $1,716,748
Child and dependent care credit $146,128
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $25,591,576
Total tax liability [9] $27,557,318
Tax due at time of filing [10] $1,360,627
Overpayments refunded [11]

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

Number of tax returns [1] 2,838
Number of joint returns 2,500
Number of returns with paid preparer's signature 1,846
Number of exemptions 7,772
Number of dependents 1,404
Adjust gross income (AGI) [2] $373,353,590
Salaries and wages $270,220,213
Taxable interest $7,172,507
Ordinary dividends $9,031,175
Business or professional net income (less loss) $19,930,694
Net capital gain (less loss) $8,479,848
Taxable individual retirement arrangements distributions $8,739,667
Taxable pensions and annuities $22,516,746
Unemployment compensation [3] $528,087
Taxable Social Security benefits $7,230,247
Self-employment retirement plans $1,673,082
Total itemized deductions [4] $57,746,240
State and local income taxes $17,320,980
State and local general sales tax $0
Real estate taxes $10,743,821
Taxes paid $28,888,969
Mortgage interest paid $17,744,317
Contributions $5,149,158
Taxable income $283,522,771
Total tax credits [5] $1,320,878
Residential energy tax credit $0
Child tax credit $787,434
Child and dependent care credit $99,924
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $260,156
Income tax [8] $48,761,586
Total tax liability [9] $52,525,068
Tax due at time of filing [10] $4,429,968
Overpayments refunded [11]

[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.


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