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ZIP Code Database - Facts & Stats

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FRANKLIN, TN IRS Tax Stats



FRANKLIN, TN Income Tax Overview

2010 Population for FRANKLIN, TN 0
Total Number of Tax Returns for FRANKLIN, TN [1] 15,661
Total Number of Joint Tax Returns for FRANKLIN, TN 7,197
Total Number of Dependents for FRANKLIN, TN 5,664
Total Adjusted Gross Income for FRANKLIN, TN $589,018,680

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] 3,130
Number of joint returns 499
Number of returns with paid preparer's signature 1,703
Number of exemptions 3,746
Number of dependents 580
Adjust gross income (AGI) [2] $11,369,133
Salaries and wages $11,967,015
Taxable interest $786,655
Ordinary dividends $339,532
Business or professional net income (less loss)
Net capital gain (less loss) $188,011
Taxable individual retirement arrangements distributions $356,235
Taxable pensions and annuities $1,378,228
Unemployment compensation [3] $253,595
Taxable Social Security benefits $0
Self-employment retirement plans $0
Total itemized deductions [4] $1,726,553
State and local income taxes $0
State and local general sales tax $29,933
Real estate taxes $86,057
Taxes paid $188,551
Mortgage interest paid $729,519
Contributions $16,838
Taxable income $565,659
Total tax credits [5] $0
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $1,262,260
Excess earned income credit (refundable) [7] $1,057,567
Alternative minimum tax $0
Income tax [8] $54,173
Total tax liability [9] $485,388
Tax due at time of filing [10] $134,587
Overpayments refunded [11]

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

Number of tax returns [1] 4,299
Number of joint returns 1,226
Number of returns with paid preparer's signature 2,724
Number of exemptions 8,132
Number of dependents 1,601
Adjust gross income (AGI) [2] $73,589,927
Salaries and wages $54,723,747
Taxable interest $2,501,834
Ordinary dividends $639,501
Business or professional net income (less loss) $5,582,772
Net capital gain (less loss) $223,111
Taxable individual retirement arrangements distributions $2,493,242
Taxable pensions and annuities $7,452,682
Unemployment compensation [3] $1,280,117
Taxable Social Security benefits $262,730
Self-employment retirement plans $0
Total itemized deductions [4] $3,476,414
State and local income taxes $12,257
State and local general sales tax $200,260
Real estate taxes $220,265
Taxes paid $466,826
Mortgage interest paid $815,546
Contributions $330,100
Taxable income $17,821,501
Total tax credits [5] $256,107
Residential energy tax credit $0
Child tax credit $134,148
Child and dependent care credit $11,389
Earned income credit [6] $4,607,518
Excess earned income credit (refundable) [7] $4,012,500
Alternative minimum tax $0
Income tax [8] $1,666,403
Total tax liability [9] $2,684,056
Tax due at time of filing [10] $291,904
Overpayments refunded [11]

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

Number of tax returns [1] 3,854
Number of joint returns 1,833
Number of returns with paid preparer's signature 2,319
Number of exemptions 8,167
Number of dependents 1,465
Adjust gross income (AGI) [2] $137,804,394
Salaries and wages $107,732,556
Taxable interest $3,087,938
Ordinary dividends $951,389
Business or professional net income (less loss) $4,252,318
Net capital gain (less loss) $515,257
Taxable individual retirement arrangements distributions $3,435,587
Taxable pensions and annuities $13,620,600
Unemployment compensation [3] $922,896
Taxable Social Security benefits $4,162,695
Self-employment retirement plans $0
Total itemized deductions [4] $8,689,370
State and local income taxes $119,811
State and local general sales tax $609,987
Real estate taxes $579,582
Taxes paid $1,314,091
Mortgage interest paid $3,276,814
Contributions $1,215,597
Taxable income $71,642,876
Total tax credits [5] $1,337,519
Residential energy tax credit $0
Child tax credit $1,004,004
Child and dependent care credit $68,575
Earned income credit [6] $1,018,081
Excess earned income credit (refundable) [7] $825,716
Alternative minimum tax $0
Income tax [8] $7,406,141
Total tax liability [9] $8,402,808
Tax due at time of filing [10] $680,658
Overpayments refunded [11]

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

Number of tax returns [1] 2,233
Number of joint returns 1,706
Number of returns with paid preparer's signature 1,421
Number of exemptions 5,694
Number of dependents 1,002
Adjust gross income (AGI) [2] $136,871,123
Salaries and wages $106,515,667
Taxable interest $2,993,484
Ordinary dividends $1,204,204
Business or professional net income (less loss) $2,982,069
Net capital gain (less loss) $954,729
Taxable individual retirement arrangements distributions $3,502,805
Taxable pensions and annuities $11,717,115
Unemployment compensation [3] $498,932
Taxable Social Security benefits $6,725,790
Self-employment retirement plans $0
Total itemized deductions [4] $10,036,614
State and local income taxes $137,364
State and local general sales tax $831,575
Real estate taxes $763,320
Taxes paid $1,867,182
Mortgage interest paid $3,829,519
Contributions $1,763,782
Taxable income $89,428,107
Total tax credits [5] $1,512,655
Residential energy tax credit $0
Child tax credit $1,256,317
Child and dependent care credit $70,172
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $10,671,013
Total tax liability [9] $11,498,496
Tax due at time of filing [10] $926,888
Overpayments refunded [11]

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

Number of tax returns [1] 1,164
Number of joint returns 1,038
Number of returns with paid preparer's signature 718
Number of exemptions 3,191
Number of dependents 557
Adjust gross income (AGI) [2] $100,115,922
Salaries and wages $75,633,547
Taxable interest $1,996,735
Ordinary dividends $1,011,428
Business or professional net income (less loss) $3,088,791
Net capital gain (less loss) $1,107,553
Taxable individual retirement arrangements distributions $2,582,842
Taxable pensions and annuities $9,351,112
Unemployment compensation [3] $157,649
Taxable Social Security benefits $4,664,451
Self-employment retirement plans $0
Total itemized deductions [4] $8,695,562
State and local income taxes $240,970
State and local general sales tax $726,702
Real estate taxes $701,806
Taxes paid $1,694,023
Mortgage interest paid $3,640,857
Contributions $1,502,193
Taxable income $72,016,202
Total tax credits [5] $872,091
Residential energy tax credit $0
Child tax credit $692,219
Child and dependent care credit $55,013
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $0
Income tax [8] $9,427,365
Total tax liability [9] $10,193,178
Tax due at time of filing [10] $792,265
Overpayments refunded [11]

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

Number of tax returns [1] 981
Number of joint returns 895
Number of returns with paid preparer's signature 637
Number of exemptions 2,686
Number of dependents 459
Adjust gross income (AGI) [2] $129,268,181
Salaries and wages $92,307,370
Taxable interest $3,370,063
Ordinary dividends $2,057,190
Business or professional net income (less loss) $5,601,038
Net capital gain (less loss) $4,140,905
Taxable individual retirement arrangements distributions $3,132,193
Taxable pensions and annuities $10,479,407
Unemployment compensation [3] $57,428
Taxable Social Security benefits $3,883,930
Self-employment retirement plans $219,779
Total itemized deductions [4] $13,572,763
State and local income taxes $702,367
State and local general sales tax $1,174,863
Real estate taxes $1,169,859
Taxes paid $3,220,971
Mortgage interest paid $5,011,065
Contributions $3,253,273
Taxable income $101,728,258
Total tax credits [5] $426,712
Residential energy tax credit $0
Child tax credit $269,214
Child and dependent care credit $24,007
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $17,386
Income tax [8] $17,826,983
Total tax liability [9] $19,322,562
Tax due at time of filing [10] $1,982,279
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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