IRS Income Data for Memphis, TN 38125
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 15% | 22% | 29% | 16% | 8% | 8% | 2% |
| Number of returns | 2,575 | 3,932 | 4,987 | 2,852 | 1,437 | 1,390 | 317 |
| Number of joint returns | 130 | 307 | 648 | 920 | 917 | 1,156 | 285 |
| Number of returns from paid preparer | 1,167 | 2,306 | 2,575 | 1,440 | 696 | 720 | 247 |
| Total number of exemptions | 2,514 | 7,924 | 10,418 | 6,213 | 3,785 | 3,894 | 874 |
| Total number of dependents | 526 | 2,131 | 2,693 | 1,445 | 799 | 769 | 148 |
| Adjusted gross income | $4,311 | $17,354 | $36,394 | $60,909 | $86,292 | $127,599 | $712,445 |
| Salaries and wages | $5,379 | $15,681 | $34,430 | $55,380 | $76,925 | $109,929 | $434,533 |
| Taxable interest | $210 | $168 | $169 | $407 | $409 | $1,374 | $18,921 |
| Ordinary dividends | $428 | $47 | $67 | $181 | $261 | $777 | $17,697 |
| Business or professional net income | $-700 | $670 | $-298 | $255 | $1,040 | $1,405 | $29,620 |
| Net capital gain | $80 | $-18 | $-5 | $66 | $88 | $291 | $25,564 |
| Taxable individual retirement account distributions | $85 | $149 | $302 | $547 | $892 | $2,340 | $3,666 |
| Taxable pensions and annuities | $283 | $790 | $1,714 | $3,292 | $5,484 | $8,636 | $13,539 |
| Unemployment compensation | $71 | $276 | $184 | $116 | $164 | $162 | $0 |
| Taxable Social Security benefits | $0 | $50 | $358 | $1,147 | $1,447 | $1,970 | $4,370 |
| Self-employment retirement plans | $0 | $0 | $23 | $0 | $0 | $142 | $4,116 |
| Total itemized deductions | $1,454 | $2,233 | $7,842 | $14,259 | $20,074 | $24,337 | $68,330 |
| State and local income taxes | $20 | $19 | $93 | $217 | $281 | $546 | $6,109 |
| State and local general sales tax | $33 | $116 | $447 | $848 | $1,413 | $1,706 | $2,949 |
| Real estate taxes | $161 | $227 | $700 | $1,250 | $2,008 | $2,129 | $9,090 |
| Taxes paid | $241 | $385 | $1,325 | $2,422 | $4,003 | $4,514 | $18,296 |
| Mortgage interest paid | $530 | $1,045 | $3,425 | $6,166 | $8,671 | $9,388 | $18,978 |
| Contributions | $45 | $303 | $1,442 | $3,102 | $4,337 | $6,963 | $24,670 |
| Taxable income | $262 | $4,168 | $17,597 | $36,534 | $56,295 | $91,911 | $635,727 |
| Total tax credits | $1 | $135 | $603 | $667 | $948 | $540 | $993 |
| Residential energy tax credit | $0 | $0 | $2 | $3 | $9 | $0 | $0 |
| Child tax credit | $0 | $49 | $310 | $480 | $596 | $359 | $0 |
| Child and dependent care credit | $0 | $20 | $93 | $75 | $91 | $100 | $19 |
| Earned income credit | $486 | $1,563 | $298 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $421 | $1,391 | $259 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $2 | $13 | $48 | $1,750 |
| Income tax | $30 | $320 | $1,612 | $4,650 | $7,727 | $15,840 | $187,784 |
| Total tax liability | $156 | $572 | $1,766 | $4,901 | $8,127 | $16,466 | $193,353 |
| Tax due at time of filing | $28 | $80 | $151 | $355 | $524 | $1,144 | $10,569 |
| Overpayments refunded | $-1,370 | $-2,972 | $-2,740 | $-2,923 | $-3,068 | $-3,015 | $-11,782 |
| Total Tax Liability / AGI | 4% | 3% | 5% | 8% | 9% | 13% | 27% |
All numbers in the table are 2010 averages for that income class and zip code.
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