IRS Income Data for Memphis, TN 38106
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 25% | 45% | 23% | 4% | 1% | 1% | 0% |
| Number of returns | 3,141 | 5,590 | 2,882 | 549 | 143 | 84 | 0 |
| Number of joint returns | 85 | 227 | 263 | 137 | 75 | 56 | 0 |
| Number of returns from paid preparer | 1,620 | 3,572 | 1,601 | 263 | 80 | 50 | 0 |
| Total number of exemptions | 4,697 | 11,960 | 6,164 | 1,094 | 324 | 212 | 0 |
| Total number of dependents | 1,355 | 3,788 | 1,741 | 238 | 60 | 37 | 0 |
| Adjusted gross income | $5,565 | $16,373 | $34,127 | $59,490 | $86,117 | $143,101 | |
| Salaries and wages | $4,469 | $13,710 | $30,584 | $47,427 | $53,780 | $82,245 | |
| Taxable interest | $19 | $38 | $151 | $508 | $961 | $717 | |
| Ordinary dividends | $1 | $2 | $11 | $64 | $112 | $106 | |
| Business or professional net income | $878 | $1,316 | $-257 | $47 | $1,588 | $5,913 | |
| Net capital gain | $-2 | $1 | $-6 | $-10 | $0 | $-150 | |
| Taxable individual retirement account distributions | $34 | $72 | $166 | $936 | $1,938 | $2,223 | |
| Taxable pensions and annuities | $256 | $1,037 | $2,867 | $7,159 | $17,244 | $23,640 | |
| Unemployment compensation | $129 | $223 | $207 | $279 | $0 | $0 | |
| Taxable Social Security benefits | $0 | $31 | $520 | $3,105 | $8,058 | $6,441 | |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total itemized deductions | $118 | $491 | $3,327 | $8,991 | $16,139 | $19,888 | |
| State and local income taxes | $0 | $8 | $57 | $229 | $209 | $598 | |
| State and local general sales tax | $5 | $30 | $235 | $621 | $1,170 | $1,365 | |
| Real estate taxes | $15 | $39 | $232 | $711 | $1,210 | $1,786 | |
| Taxes paid | $20 | $83 | $554 | $1,831 | $2,643 | $4,119 | |
| Mortgage interest paid | $30 | $112 | $730 | $1,880 | $2,997 | $4,266 | |
| Contributions | $11 | $123 | $934 | $2,832 | $6,231 | $7,272 | |
| Taxable income | $104 | $3,199 | $17,582 | $39,464 | $58,835 | $107,120 | |
| Total tax credits | $0 | $92 | $538 | $418 | $394 | $298 | |
| Residential energy tax credit | $0 | $0 | $5 | $0 | $0 | $0 | |
| Child tax credit | $0 | $51 | $351 | $307 | $274 | $153 | |
| Child and dependent care credit | $0 | $10 | $62 | $40 | $63 | $0 | |
| Earned income credit | $1,036 | $2,265 | $466 | $0 | $0 | $0 | |
| Excess earned income credit | $921 | $2,051 | $405 | $0 | $0 | $0 | |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | |
| Income tax | $10 | $250 | $1,644 | $5,473 | $9,034 | $18,783 | |
| Total tax liability | $182 | $469 | $1,682 | $5,550 | $9,492 | $19,928 | |
| Tax due at time of filing | $6 | $25 | $111 | $493 | $1,269 | $2,632 | |
| Overpayments refunded | $-2,014 | $-3,513 | $-2,514 | $-2,180 | $-2,322 | $-3,237 | |
| Total Tax Liability / AGI | 3% | 3% | 5% | 9% | 11% | 14% |
All numbers in the table are 2010 averages for that income class and zip code.
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