Table 2. Individual Income and Tax Data, by State And Size of Adjusted Gross Income, Tax Year 2007*
[Money amounts are in thousands of dollars]
Size of adjusted gross income Item All returns Under $50,000 [1] (2) $50,000 under $75,000 (3) $75,000 under $100,000 (4) $100,000 under $200,000 (5) $200,000 or more (6)
(1) IOWA Number of returns Number of joint returns Number with paid preparer's signature Number of exemptions Adjusted gross income (AGI) [2] Salaries and wages in AGI: [3] Number Amount Taxable interest: Number Amount Ordinary dividends: Number Amount Business or profession net income (less loss): Number Amount Number of farm returns Net capital gain (less loss) in AGI: Number Amount Taxable individual retirement arrangements distributions: Number Amount Taxable pensions and annuities in AGI: Number Amount Unemployment compensation: [4] Number Amount Taxable Social Security benefits in AGI: Number Amount Self-employment retirement plans: Number Amount Total itemized deductions: [5] Number Amount State and local income taxes: Number Amount State and local general sales tax: Number Amount Real estate taxes: Number Amount Taxes paid: Number Amount Mortgage interest paid: Number Amount Contributions: Number Amount Taxable income: Number Amount Total tax credits: [6] Number Amount Residential energy tax credit: Number Amount Child tax credit: Number Amount Child and dependent care credit: Number Amount Earned income credit: [7] Number Amount Excess earned income credit (refundable): [8] Number Amount Alternative minimum tax: Number Amount Income tax: [9] Number Amount Total tax liability: [10] Number Amount Tax due at time of filing: [11] Number Amount Overpayments refunded: [12] Number 1,538,656 641,520 981,782 2,908,879 71,960,985 1,216,882 50,470,831 766,750 2,205,182 385,253 1,633,032 217,767 2,003,335 84,322 320,885 4,295,806 140,239 1,371,293 290,836 4,074,924 94,327 295,087 179,445 1,872,948 11,718 158,187 459,937 9,166,712 408,172 2,148,628 49,705 53,864 414,701 992,865 461,165 3,314,640 363,091 2,905,302 371,831 1,399,768 1,142,235 48,695,674 499,784 581,463 66,828 12,884 270,765 373,338 85,499 39,649 194,557 341,901 167,092 302,240 24,746 113,381 1,036,454 7,850,809 1,105,354 8,380,494 312,248 1,071,427 1,043,651
1,048,094 239,497 625,741 1,563,079 19,042,216 779,066 15,553,273 393,672 696,899 169,855 258,828 120,988 566,834 44,262 139,892 376,178 78,163 424,295 169,145 1,572,924 63,871 199,450 87,058 408,372 1,665 9,031 149,049 2,077,776 107,174 175,084 39,186 26,887 122,081 207,702 149,320 431,948 99,846 614,558 100,803 180,489 652,641 9,185,522 235,231 165,234 20,803 3,670 110,271 99,735 27,507 12,227 194,557 341,900 167,092 302,239 252 574 557,854 953,048 622,670 1,127,048 147,835 150,273 738,147
221,094 161,520 161,629 566,836 13,620,178 197,169 10,535,603 146,322 321,031 72,267 169,581 41,260 311,953 17,464 58,183 254,834 25,765 252,608 53,043 845,959 18,721 58,165 42,176 556,595 1,671 12,087 102,425 1,608,832 96,680 272,679 6,055 16,769 93,702 181,962 102,926 494,138 85,555 601,945 81,745 179,597 220,343 8,895,384 114,809 182,122 19,391 3,634 78,604 133,723 24,957 12,031 0 0 0 0 397 517 210,523 1,040,637 214,124 1,136,314 61,620 138,559 153,556
130,917 115,427 93,646 372,882 11,270,094 118,275 8,616,073 102,195 253,783 55,877 161,902 24,837 243,241 11,053 45,463 286,101 16,805 223,658 33,060 662,561 7,878 24,053 23,817 405,529 1,897 17,060 87,001 1,551,125 84,941 348,518 2,272 4,169 82,883 189,110 87,291 566,108 76,843 600,167 75,651 191,741 130,786 7,980,631 76,192 133,607 13,414 2,628 50,532 92,330 17,715 8,719 0 0 0 0 500 866 129,787 1,009,591 130,173 1,087,976 39,035 126,317 87,626
110,557 100,156 77,436 324,516 14,336,007 98,553 10,077,549 97,452 383,144 64,550 329,854 23,110 446,429 8,797 55,156 712,456 15,576 318,988 29,136 774,529 3,566 12,027 20,453 379,047 3,817 52,220 94,951 2,226,962 93,419 633,720 1,621 4,305 90,861 274,732 95,089 946,132 80,928 739,371 88,090 341,453 110,494 10,838,944 58,675 69,183 11,192 2,413 31,340 47,534 13,462 5,919 0 0 0 0 4,677 9,345 110,316 1,819,148 110,406 1,931,473 48,328 262,468 56,530
27,994 24,920 23,330 81,566 13,692,488 23,819 5,688,332 27,109 550,326 22,704 712,866 7,572 434,878 2,746 22,191 2,666,236 3,930 151,744 6,452 218,951 291 1,393 5,941 123,405 2,668 67,789 26,511 1,702,017 25,958 718,627 571 1,735 25,174 139,360 26,539 876,314 19,919 349,261 25,542 506,487 27,971 11,795,195 14,877 31,319 2,028 538 18 16 1,858 753 0 0 0 0 18,920 102,078 27,974 3,028,384 27,981 3,097,684 15,430 393,811 7,792
Amount
2,168,123
1,198,754
391,323
268,485
211,205
98,355
* - Data for Tax Year 2007 includes returns that were filed by individuals only to receive the economic stimulus payment and who had no other reason to file. This may affect the data for various items shown in the table such as the total number of returns filed (including joint and paid preparer returns), number of exemptions, salaries and wages, and adjusted gross income. ** - Not shown to avoid disclosure of information about specific taxpayers. However, the data are combined with data in an adjacent size class, as appropriate, and included in the appropriate totals. [1] Includes returns with adjusted gross deficit. [2] Less deficit. [3] "Number," here, and elsewhere in Table 2, represents number of returns, unless otherwise specified. [4] 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. [5] "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. [6] Unlike Table 1, Table 2's "Total tax credits" excludes the "earned income credit" which is shown separately below in the table. [7] "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 8 below for explanation of the refundable portion of the earned income credit. [8] 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. [9] "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)". Table 2 "Income tax" differs from "total income tax" (in Tables 1 and 3) in that Table 2 "Income tax" is after the subtraction of all tax credits except the earned income credit. See footnotes 7 and 8 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. [10] For Table 2, "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. [11] Reflects payments to or withholdings made to "Total tax liability" (footnote 10). The amount the tax filer owes when the income tax return is filed. [12] The amount of overpayments the tax filer requested to have refunded. [13] Includes, for example, returns filed from Army Post Office and Fleet Post Office addresses by members of the armed forces stationed overseas; returns filed by other U.S. citizens abroad; and returns filed by residents of Puerto Rico with income from sources outside Puerto Rico or with income earned as U.S. government employees. NOTE: This table presents aggregates of all returns filed and processed through the Individual Master File (IMF) system during Calendar Year 2008, including any returns filed for tax years preceding 2007. In general, during administrative or Master File processing, taxpayer reporting discrepancies are corrected only to the extent necessary to verify the total tax liability reported. Most of the other corrections to the taxpayer records used for these statistics could not be made because of time and resource constraints. The statistics in Table 2 should, therefore, be used with the knowledge that some of the data have not been perfected or edited for statistical purposes and that U.S. totals in this table may not be altogether comparable to U.S. totals in Tables 1 and 3, as a result. Also, see footnote 13, above for differences in tax return coverage, which affects U.S. totals in this table. Classification by State was usually based on the taxpayer's home address. However, some taxpayers may have used the address of a tax lawyer, or accountant, or the address of a place of business; moreover, such addresses could each have been located in a State other than the State in which the taxpayer resided. For explanation of the tax law changes which could affect the year-to-year analysis of data, refer to the respective years' "Individual Income Tax Returns, Preliminary Data" article published in the SOI Spring Bulletin. For further explanation of the tax terms, refer to the respective years' "Individual Income Tax Returns," Publication 1304. Note: Detail may not add to totals because of rounding. SOURCE: IRS, Statistics of Income Division, Individual Master File System, May 2009.