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ZIP Code Database - Facts & Stats

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MONTGOMERY, NY IRS Tax Stats



MONTGOMERY, NY Income Tax Overview

2010 Population for MONTGOMERY, NY 0
Total Number of Tax Returns for MONTGOMERY, NY [1] 26,799
Total Number of Joint Tax Returns for MONTGOMERY, NY 10,200
Total Number of Dependents for MONTGOMERY, NY 8,933
Total Adjusted Gross Income for MONTGOMERY, NY $1,038,394,297

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] 5,117
Number of joint returns 551
Number of returns with paid preparer's signature 2,749
Number of exemptions 5,730
Number of dependents 916
Adjust gross income (AGI) [2] $18,954,804
Salaries and wages $20,146,297
Taxable interest $1,184,424
Ordinary dividends $661,240
Business or professional net income (less loss) $390,572
Net capital gain (less loss) $150,725
Taxable individual retirement arrangements distributions $800,972
Taxable pensions and annuities $2,963,853
Unemployment compensation [3] $662,382
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $1,908,415
State and local income taxes $68,665
State and local general sales tax $14,055
Real estate taxes $369,778
Taxes paid $544,096
Mortgage interest paid $390,467
Contributions $32,278
Taxable income $1,166,411
Total tax credits [5] $537
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $1,944,861
Excess earned income credit (refundable) [7] $1,747,530
Alternative minimum tax $0
Income tax [8] $111,711
Total tax liability [9] $494,281
Tax due at time of filing [10] $114,785
Overpayments refunded [11]

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

Number of tax returns [1] 6,697
Number of joint returns 1,360
Number of returns with paid preparer's signature 4,047
Number of exemptions 11,617
Number of dependents 2,199
Adjust gross income (AGI) [2] $115,614,240
Salaries and wages $86,363,899
Taxable interest $2,960,658
Ordinary dividends $2,138,132
Business or professional net income (less loss) $4,715,885
Net capital gain (less loss) $527,740
Taxable individual retirement arrangements distributions $3,121,508
Taxable pensions and annuities $14,163,210
Unemployment compensation [3] $3,462,848
Taxable Social Security benefits $424,131
Self-employment retirement plans $0
Total itemized deductions [4] $6,661,843
State and local income taxes $220,407
State and local general sales tax $116,819
Real estate taxes $1,331,372
Taxes paid $1,702,318
Mortgage interest paid $1,401,718
Contributions $336,478
Taxable income $32,678,911
Total tax credits [5] $526,370
Residential energy tax credit $0
Child tax credit $218,654
Child and dependent care credit $34,493
Earned income credit [6] $6,464,052
Excess earned income credit (refundable) [7] $5,851,887
Alternative minimum tax $0
Income tax [8] $2,998,402
Total tax liability [9] $4,045,650
Tax due at time of filing [10] $408,914
Overpayments refunded [11]

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

Number of tax returns [1] 7,218
Number of joint returns 2,356
Number of returns with paid preparer's signature 4,287
Number of exemptions 13,761
Number of dependents 2,396
Adjust gross income (AGI) [2] $258,890,972
Salaries and wages $207,753,306
Taxable interest $4,066,611
Ordinary dividends $3,201,753
Business or professional net income (less loss) $3,600,007
Net capital gain (less loss) $924,381
Taxable individual retirement arrangements distributions $4,499,735
Taxable pensions and annuities $24,800,614
Unemployment compensation [3] $4,052,648
Taxable Social Security benefits $7,353,322
Self-employment retirement plans $0
Total itemized deductions [4] $20,178,877
State and local income taxes $2,343,358
State and local general sales tax $280,083
Real estate taxes $3,990,221
Taxes paid $6,702,173
Mortgage interest paid $5,981,588
Contributions $1,590,332
Taxable income $143,979,306
Total tax credits [5] $2,364,059
Residential energy tax credit $0
Child tax credit $1,664,552
Child and dependent care credit $93,766
Earned income credit [6] $1,613,816
Excess earned income credit (refundable) [7] $1,353,046
Alternative minimum tax $0
Income tax [8] $15,528,938
Total tax liability [9] $16,708,482
Tax due at time of filing [10] $953,802
Overpayments refunded [11]

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

Number of tax returns [1] 3,909
Number of joint returns 2,567
Number of returns with paid preparer's signature 2,449
Number of exemptions 9,268
Number of dependents 1,533
Adjust gross income (AGI) [2] $239,747,771
Salaries and wages $187,510,481
Taxable interest $3,997,645
Ordinary dividends $3,292,923
Business or professional net income (less loss) $2,476,391
Net capital gain (less loss) $1,274,321
Taxable individual retirement arrangements distributions $3,864,231
Taxable pensions and annuities $24,972,480
Unemployment compensation [3] $1,946,740
Taxable Social Security benefits $11,088,377
Self-employment retirement plans $98,601
Total itemized deductions [4] $24,788,956
State and local income taxes $4,184,941
State and local general sales tax $172,232
Real estate taxes $5,306,436
Taxes paid $9,779,924
Mortgage interest paid $7,585,280
Contributions $2,203,813
Taxable income $157,679,789
Total tax credits [5] $2,444,000
Residential energy tax credit $0
Child tax credit $1,860,554
Child and dependent care credit $80,313
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $19,488,505
Total tax liability [9] $20,252,767
Tax due at time of filing [10] $993,900
Overpayments refunded [11]

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

Number of tax returns [1] 2,155
Number of joint returns 1,802
Number of returns with paid preparer's signature 1,347
Number of exemptions 5,680
Number of dependents 958
Adjust gross income (AGI) [2] $185,559,901
Salaries and wages $147,428,542
Taxable interest $2,818,771
Ordinary dividends $2,530,172
Business or professional net income (less loss) $1,567,735
Net capital gain (less loss) $1,273,621
Taxable individual retirement arrangements distributions $3,144,297
Taxable pensions and annuities $18,181,545
Unemployment compensation [3] $853,739
Taxable Social Security benefits $7,127,104
Self-employment retirement plans $0
Total itemized deductions [4] $23,405,864
State and local income taxes $5,160,819
State and local general sales tax $71,660
Real estate taxes $4,874,523
Taxes paid $10,257,880
Mortgage interest paid $7,296,199
Contributions $2,214,799
Taxable income $131,982,833
Total tax credits [5] $1,687,658
Residential energy tax credit $0
Child tax credit $1,212,570
Child and dependent care credit $61,464
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $17,527,917
Total tax liability [9] $18,071,480
Tax due at time of filing [10] $744,150
Overpayments refunded [11]

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

Number of tax returns [1] 1,703
Number of joint returns 1,564
Number of returns with paid preparer's signature 1,143
Number of exemptions 4,919
Number of dependents 931
Adjust gross income (AGI) [2] $219,626,609
Salaries and wages $171,934,397
Taxable interest $2,897,859
Ordinary dividends $3,384,237
Business or professional net income (less loss) $5,034,866
Net capital gain (less loss) $3,516,878
Taxable individual retirement arrangements distributions $3,728,783
Taxable pensions and annuities $17,622,333
Unemployment compensation [3] $224,669
Taxable Social Security benefits $4,141,584
Self-employment retirement plans $175,859
Total itemized deductions [4] $32,647,565
State and local income taxes $10,530,177
State and local general sales tax $25,800
Real estate taxes $6,711,952
Taxes paid $17,009,415
Mortgage interest paid $8,947,577
Contributions $3,675,463
Taxable income $165,972,548
Total tax credits [5] $864,008
Residential energy tax credit $0
Child tax credit $607,331
Child and dependent care credit $52,092
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $335,659
Income tax [8] $28,066,760
Total tax liability [9] $29,307,808
Tax due at time of filing [10] $2,515,633
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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