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 $50,000 $75,000 $100,000
Under $200,000
under under under
$50,000 [1] or more
$75,000 $100,000 $200,000
(1) (2) (3) (4) (5) (6)
NORTH CAROLINA
Number of returns 4,601,888 3,286,721 540,440 321,026 343,424 110,277
Number of joint returns 1,710,243 697,719 350,411 264,346 300,532 97,235
Number with paid preparer's signature 2,569,419 1,769,764 322,916 187,886 203,351 85,502
Number of exemptions 9,080,657 5,658,402 1,290,034 850,252 960,690 321,279
Adjusted gross income (AGI) [2] 219,982,102 58,204,843 33,211,288 27,712,197 45,532,348 55,321,427
Salaries and wages in AGI: [3] Number 3,623,603 2,457,923 479,686 286,056 305,742 94,196
Amount 154,463,752 49,590,177 25,768,598 21,012,509 32,946,677 25,145,791
Taxable interest: Number 1,787,456 852,364 314,313 229,800 286,064 104,915
Amount 5,610,044 1,290,391 648,827 562,838 1,026,728 2,081,260
Ordinary dividends: Number 854,875 324,949 140,640 117,220 184,544 87,522
Amount 5,319,834 609,649 419,477 432,763 1,112,935 2,745,011
Business or profession net income (less loss): Number 686,013 419,593 98,773 63,760 74,445 29,442
Amount 6,311,695 1,630,460 808,521 672,780 1,408,121 1,791,813
Number of farm returns 50,015 25,012 9,117 6,239 6,676 2,971
Net capital gain (less loss) in AGI: Number 736,189 272,965 115,529 97,854 163,217 86,624
Amount 16,139,980 834,152 540,414 625,594 2,145,619 11,994,201
Taxable individual retirement arrangements distributions: Number 333,600 165,734 61,014 43,466 48,669 14,717
Amount 4,367,137 1,098,224 710,386 696,455 1,217,495 644,577
Taxable pensions and annuities in AGI: Number 791,536 428,291 142,641 95,229 100,328 25,047
Amount 13,980,054 4,493,593 2,796,550 2,375,131 3,265,175 1,049,605
Unemployment compensation: [4] Number 217,976 163,517 30,961 13,510 8,942 1,046
Amount 822,870 585,408 128,022 60,589 43,014 5,835
Taxable Social Security benefits in AGI: Number 437,584 194,822 100,874 60,921 60,715 20,252
Amount 4,966,913 1,038,746 1,324,133 1,035,894 1,129,512 438,629
Self-employment retirement plans: Number 26,346 3,177 2,563 2,726 8,121 9,759
Amount 439,341 16,388 19,556 24,311 109,998 269,088
Total itemized deductions: [5] Number 1,553,622 535,791 334,529 257,106 318,204 107,992
Amount 35,697,046 7,128,760 5,929,935 5,314,136 8,896,447 8,427,768
State and local income taxes: Number 1,389,994 415,684 312,491 246,173 309,749 105,897
Amount 9,693,651 1,002,754 1,251,258 1,191,434 2,564,951 3,683,254
State and local general sales tax: Number 139,475 98,507 20,497 10,350 8,082 2,039
Amount 155,322 87,577 24,320 15,535 17,715 10,176
Real estate taxes: Number 1,378,563 429,362 302,419 240,522 302,861 103,399
Amount 3,042,495 657,745 496,766 459,703 819,397 608,882
Taxes paid: Number 1,554,539 535,080 335,368 257,535 318,494 108,062
Amount 13,349,211 1,895,975 1,845,147 1,733,262 3,506,426 4,368,401
Mortgage interest paid: Number 1,315,039 413,115 293,529 231,646 284,619 92,130
Amount 13,760,635 3,273,570 2,458,533 2,178,350 3,420,198 2,429,984
Contributions: Number 1,298,856 394,224 280,485 226,353 294,350 103,444
Amount 5,885,180 947,905 847,639 795,385 1,369,405 1,924,848
Taxable income: Number 3,180,464 1,869,899 537,356 320,226 342,863 110,120
Amount 143,840,131 24,574,481 20,958,104 18,853,629 33,152,795 46,301,122
Total tax credits: [6] Number 1,381,418 745,180 246,571 168,030 165,765 55,872
Amount 1,453,971 518,170 355,344 262,164 173,003 145,291
Residential energy tax credit: Number 111,757 31,086 27,879 21,342 25,260 6,190
Amount 25,552 6,624 6,225 4,815 6,053 1,834
Child tax credit: Number 813,005 436,314 175,816 115,494 85,350 31
Amount 923,835 345,254 274,290 189,801 114,463 27
Child and dependent care credit: Number 221,528 89,391 47,019 37,246 39,525 8,347
Amount 110,969 44,352 23,300 19,254 19,886 4,178
Earned income credit: [7] Number 860,966 860,966 0 0 0 0
Amount 1,761,511 1,761,510 0 0 0 0
Excess earned income credit (refundable): [8] Number 767,173 767,173 0 0 0 0
Amount 1,575,190 1,575,190 0 0 0 0
Alternative minimum tax: Number 104,844 796 1,610 1,997 19,659 80,782
Amount 600,222 2,036 2,229 4,057 42,205 549,697
Income tax: [9] Number 2,768,267 1,483,518 514,725 317,567 342,290 110,167
Amount 24,970,720 2,457,595 2,566,925 2,480,138 5,649,869 11,816,192
Total tax liability: [10] Number 3,014,129 1,719,945 522,464 318,799 342,696 110,225
Amount 26,427,095 2,977,707 2,771,852 2,644,290 5,938,254 12,094,991
Tax due at time of filing: [11] Number 831,290 385,674 148,755 95,124 141,064 60,673
Amount 3,337,349 392,167 296,609 254,207 679,522 1,714,844
Overpayments refunded: [12] Number 3,210,102 2,392,796 380,583 216,972 186,670 33,081
Amount 7,417,814 4,554,796 961,490 664,375 782,560 454,594
* - 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.