IRS Income Data for Panama City, FL 32404
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 17% | 27% | 26% | 14% | 9% | 6% | 1% |
| Number of returns | 2,953 | 4,573 | 4,490 | 2,448 | 1,500 | 1,015 | 96 |
| Number of joint returns | 268 | 840 | 1,756 | 1,795 | 1,313 | 938 | 80 |
| Number of returns from paid preparer | 1,063 | 1,978 | 1,814 | 993 | 557 | 440 | 78 |
| Total number of exemptions | 3,336 | 7,781 | 9,181 | 6,040 | 3,990 | 2,706 | 240 |
| Total number of dependents | 613 | 1,586 | 1,751 | 1,038 | 683 | 444 | 38 |
| Adjusted gross income | $4,497 | $17,385 | $35,905 | $61,821 | $86,154 | $125,809 | $343,748 |
| Salaries and wages | $4,607 | $14,187 | $28,656 | $47,400 | $65,538 | $93,227 | $146,265 |
| Taxable interest | $200 | $358 | $638 | $1,006 | $1,500 | $2,782 | $18,146 |
| Ordinary dividends | $43 | $93 | $193 | $343 | $359 | $926 | $3,267 |
| Business or professional net income | $16 | $646 | $439 | $762 | $945 | $1,668 | $2,969 |
| Net capital gain | $148 | $-1 | $5 | $147 | $283 | $1,548 | $64,808 |
| Taxable individual retirement account distributions | $68 | $195 | $411 | $734 | $1,497 | $2,096 | $5,710 |
| Taxable pensions and annuities | $370 | $1,973 | $4,706 | $9,025 | $12,992 | $19,231 | $27,701 |
| Unemployment compensation | $103 | $184 | $150 | $180 | $163 | $84 | $0 |
| Taxable Social Security benefits | $0 | $47 | $909 | $2,554 | $3,074 | $2,995 | $5,003 |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $68 | $0 | $0 |
| Total itemized deductions | $549 | $883 | $2,649 | $5,926 | $9,042 | $14,350 | $40,490 |
| State and local income taxes | $1 | $6 | $17 | $45 | $91 | $305 | $1,005 |
| State and local general sales tax | $5 | $25 | $99 | $280 | $548 | $825 | $1,876 |
| Real estate taxes | $57 | $71 | $192 | $516 | $703 | $1,266 | $4,221 |
| Taxes paid | $66 | $107 | $322 | $866 | $1,389 | $2,463 | $7,116 |
| Mortgage interest paid | $238 | $391 | $1,375 | $3,049 | $4,849 | $6,971 | $10,243 |
| Contributions | $14 | $88 | $321 | $826 | $1,560 | $3,092 | $9,544 |
| Taxable income | $224 | $5,109 | $19,250 | $40,423 | $61,872 | $97,629 | $293,621 |
| Total tax credits | $1 | $76 | $387 | $633 | $689 | $388 | $266 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $39 | $291 | $505 | $535 | $272 | $0 |
| Child and dependent care credit | $0 | $10 | $37 | $49 | $61 | $48 | $0 |
| Earned income credit | $467 | $1,036 | $257 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $426 | $956 | $218 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $16 | $886 |
| Income tax | $22 | $482 | $1,999 | $4,993 | $8,384 | $16,915 | $68,962 |
| Total tax liability | $100 | $598 | $2,113 | $5,189 | $8,661 | $17,338 | $69,653 |
| Tax due at time of filing | $23 | $46 | $132 | $379 | $504 | $1,247 | $15,211 |
| Overpayments refunded | $-901 | $-2,195 | $-2,200 | $-2,049 | $-2,355 | $-2,445 | $-6,695 |
| Total Tax Liability / AGI | 2% | 3% | 6% | 8% | 10% | 14% | 20% |
All numbers in the table are 2010 averages for that income class and zip code.
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