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ZIP Code Database - Facts & Stats

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Colorado 2008 IRS Tax Stats



Colorado Income Tax Overview

2010 Population for Colorado 5,029,196
Total Number of Tax Returns for Colorado [1] 2,192,274
Total Number of Joint Tax Returns for Colorado 847,830
Total Number of Dependents for Colorado 728,928
Total Adjusted Gross Income for Colorado $103,386,302,437

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] 375,709
Number of joint returns 37,822
Number of returns with paid preparer's signature 171,921
Number of exemptions 373,822
Number of dependents 52,776
Adjust gross income (AGI) [2] $1,184,208,105
Salaries and wages $1,809,269,416
Taxable interest $198,515,623
Ordinary dividends $142,142,875
Business or professional net income (less loss) ($39,367,085)
Net capital gain (less loss) $92,412,573
Taxable individual retirement arrangements distributions $68,242,093
Taxable pensions and annuities $133,957,098
Unemployment compensation [3] $22,086,036
Taxable Social Security benefits $81,824
Self-employment retirement plans $363,059
Total itemized deductions [4] $810,528,784
State and local income taxes $51,541,038
State and local general sales tax $4,279,133
Real estate taxes $68,028,867
Taxes paid $137,804,660
Mortgage interest paid $346,298,889
Contributions $10,580,298
Taxable income $100,183,676
Total tax credits [5] $277,480
Residential energy tax credit $0
Child tax credit $0
Child and dependent care credit $0
Earned income credit [6] $107,804,393
Excess earned income credit (refundable) [7] $94,263,193
Alternative minimum tax $0
Income tax [8] $9,936,632
Total tax liability [9] $54,987,514
Tax due at time of filing [10] $17,689,351
Overpayments refunded [11] ($303,933,420)

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

Number of tax returns [1] 454,650
Number of joint returns 78,664
Number of returns with paid preparer's signature 228,456
Number of exemptions 761,141
Number of dependents 136,055
Adjust gross income (AGI) [2] $7,884,054,963
Salaries and wages $6,277,875,879
Taxable interest $191,236,125
Ordinary dividends $127,849,596
Business or professional net income (less loss) $489,945,206
Net capital gain (less loss) $13,029,049
Taxable individual retirement arrangements distributions $176,844,550
Taxable pensions and annuities $640,288,802
Unemployment compensation [3] $102,058,270
Taxable Social Security benefits $30,288,197
Self-employment retirement plans $988,198
Total itemized deductions [4] $933,215,153
State and local income taxes $35,647,673
State and local general sales tax $11,778,593
Real estate taxes $69,649,649
Taxes paid $128,598,661
Mortgage interest paid $402,026,033
Contributions $62,274,270
Taxable income $2,370,616,794
Total tax credits [5] $40,930,004
Residential energy tax credit $0
Child tax credit $13,077,501
Child and dependent care credit $2,329,259
Earned income credit [6] $343,571,641
Excess earned income credit (refundable) [7] $305,826,460
Alternative minimum tax $60,436
Income tax [8] $216,755,315
Total tax liability [9] $308,376,738
Tax due at time of filing [10] $44,380,012
Overpayments refunded [11] ($811,606,718)

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

Number of tax returns [1] 555,392
Number of joint returns 165,241
Number of returns with paid preparer's signature 278,776
Number of exemptions 1,093,366
Number of dependents 188,475
Adjust gross income (AGI) [2] $20,182,445,478
Salaries and wages $16,748,053,811
Taxable interest $321,796,364
Ordinary dividends $233,793,265
Business or professional net income (less loss) $636,804,127
Net capital gain (less loss) $56,498,975
Taxable individual retirement arrangements distributions $350,552,459
Taxable pensions and annuities $1,441,252,400
Unemployment compensation [3] $138,762,828
Taxable Social Security benefits $380,716,334
Self-employment retirement plans $8,086,765
Total itemized deductions [4] $2,868,517,701
State and local income taxes $219,369,250
State and local general sales tax $28,286,421
Real estate taxes $216,503,971
Taxes paid $502,819,149
Mortgage interest paid $1,434,023,608
Contributions $222,804,875
Taxable income $10,789,560,094
Total tax credits [5] $196,919,630
Residential energy tax credit $126,953
Child tax credit $130,464,377
Child and dependent care credit $12,255,394
Earned income credit [6] $99,240,286
Excess earned income credit (refundable) [7] $81,140,647
Alternative minimum tax $66,937
Income tax [8] $1,169,875,063
Total tax liability [9] $1,306,833,063
Tax due at time of filing [10] $114,994,104
Overpayments refunded [11] ($1,080,597,899)

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

Number of tax returns [1] 329,845
Number of joint returns 179,772
Number of returns with paid preparer's signature 174,519
Number of exemptions 745,421
Number of dependents 124,702
Adjust gross income (AGI) [2] $20,319,440,100
Salaries and wages $16,068,549,067
Taxable interest $342,086,346
Ordinary dividends $271,599,993
Business or professional net income (less loss) $558,116,494
Net capital gain (less loss) $93,089,987
Taxable individual retirement arrangements distributions $425,279,477
Taxable pensions and annuities $1,782,915,863
Unemployment compensation [3] $73,887,895
Taxable Social Security benefits $626,793,193
Self-employment retirement plans $14,428,956
Total itemized deductions [4] $3,669,378,066
State and local income taxes $411,966,436
State and local general sales tax $25,055,283
Real estate taxes $289,710,509
Taxes paid $774,997,478
Mortgage interest paid $1,904,909,322
Contributions $324,484,918
Taxable income $12,816,297,680
Total tax credits [5] $206,102,632
Residential energy tax credit $461,008
Child tax credit $157,609,404
Child and dependent care credit $10,434,001
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $470,136
Income tax [8] $1,640,889,856
Total tax liability [9] $1,765,535,961
Tax due at time of filing [10] $140,899,418
Overpayments refunded [11] ($751,513,566)

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

Number of tax returns [1] 210,809
Number of joint returns 158,719
Number of returns with paid preparer's signature 110,530
Number of exemptions 542,510
Number of dependents 93,236
Adjust gross income (AGI) [2] $18,247,040,384
Salaries and wages $14,308,467,867
Taxable interest $298,018,390
Ordinary dividends $261,087,623
Business or professional net income (less loss) $469,295,654
Net capital gain (less loss) $129,472,497
Taxable individual retirement arrangements distributions $431,896,454
Taxable pensions and annuities $1,539,704,041
Unemployment compensation [3] $42,862,518
Taxable Social Security benefits $502,013,164
Self-employment retirement plans $14,378,691
Total itemized deductions [4] $3,444,492,124
State and local income taxes $484,841,305
State and local general sales tax $15,787,294
Real estate taxes $283,765,134
Taxes paid $832,568,628
Mortgage interest paid $1,796,987,789
Contributions $337,632,057
Taxable income $12,354,122,363
Total tax credits [5] $173,985,436
Residential energy tax credit $179,635
Child tax credit $125,844,151
Child and dependent care credit $9,927,878
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $461,049
Income tax [8] $1,674,059,257
Total tax liability [9] $1,782,837,401
Tax due at time of filing [10] $126,533,497
Overpayments refunded [11] ($555,151,916)

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

Number of tax returns [1] 265,869
Number of joint returns 227,612
Number of returns with paid preparer's signature 143,079
Number of exemptions 743,524
Number of dependents 133,684
Adjust gross income (AGI) [2] $35,569,113,407
Salaries and wages $27,396,152,567
Taxable interest $620,013,810
Ordinary dividends $645,483,878
Business or professional net income (less loss) $1,069,706,948
Net capital gain (less loss) $592,522,740
Taxable individual retirement arrangements distributions $827,799,862
Taxable pensions and annuities $2,458,263,433
Unemployment compensation [3] $39,847,484
Taxable Social Security benefits $572,374,175
Self-employment retirement plans $86,067,261
Total itemized deductions [4] $6,614,785,117
State and local income taxes $1,261,742,179
State and local general sales tax $17,419,493
Real estate taxes $586,087,110
Taxes paid $1,955,869,317
Mortgage interest paid $3,215,472,184
Contributions $758,895,468
Taxable income $26,054,687,058
Total tax credits [5] $138,230,023
Residential energy tax credit $945,744
Child tax credit $89,294,109
Child and dependent care credit $14,252,816
Earned income credit [6] $0
Excess earned income credit (refundable) [7] $0
Alternative minimum tax $18,945,551
Income tax [8] $4,537,232,702
Total tax liability [9] $4,751,588,446
Tax due at time of filing [10] $403,412,986
Overpayments refunded [11] ($810,710,827)

[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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