IRS Income Data for Smithfield, KY 40068
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 18% | 18% | 25% | 18% | 10% | 10% | 2% |
| Number of returns | 186 | 187 | 264 | 184 | 105 | 100 | 24 |
| Number of joint returns | 24 | 53 | 117 | 149 | 95 | 95 | 21 |
| Number of returns from paid preparer | 121 | 126 | 194 | 121 | 65 | 65 | 18 |
| Total number of exemptions | 190 | 333 | 535 | 470 | 293 | 297 | 64 |
| Total number of dependents | 29 | 52 | 94 | 81 | 47 | 55 | 11 |
| Adjusted gross income | $3,332 | $17,666 | $36,716 | $60,925 | $86,651 | $134,652 | $315,348 |
| Salaries and wages | $4,671 | $11,874 | $28,943 | $48,961 | $67,917 | $117,671 | $170,190 |
| Taxable interest | $279 | $452 | $1,004 | $1,006 | $1,999 | $804 | $5,725 |
| Ordinary dividends | $91 | $93 | $211 | $612 | $116 | $2,107 | $3,685 |
| Business or professional net income | $494 | $1,236 | $564 | $465 | $3,395 | $209 | $0 |
| Net capital gain | $93 | $215 | $450 | $111 | $1,033 | $2,393 | $66,392 |
| Taxable individual retirement account distributions | $0 | $608 | $605 | $1,309 | $2,355 | $4,849 | $0 |
| Taxable pensions and annuities | $0 | $3,478 | $4,073 | $6,067 | $6,817 | $10,027 | $0 |
| Unemployment compensation | $0 | $485 | $417 | $692 | $733 | $716 | $0 |
| Taxable Social Security benefits | $0 | $140 | $977 | $1,739 | $2,507 | $1,730 | $0 |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total itemized deductions | $1,075 | $1,214 | $5,069 | $9,561 | $15,678 | $30,612 | $43,802 |
| State and local income taxes | $89 | $0 | $618 | $1,597 | $3,179 | $7,349 | $16,807 |
| State and local general sales tax | $28 | $0 | $0 | $83 | $0 | $0 | $0 |
| Real estate taxes | $0 | $180 | $565 | $892 | $1,475 | $2,850 | $3,903 |
| Taxes paid | $137 | $191 | $1,321 | $2,733 | $4,916 | $10,820 | $21,231 |
| Mortgage interest paid | $0 | $996 | $1,987 | $4,672 | $7,155 | $13,379 | $14,465 |
| Contributions | $0 | $146 | $440 | $898 | $1,447 | $3,508 | $6,032 |
| Taxable income | $195 | $5,080 | $18,970 | $37,431 | $58,114 | $92,744 | $263,169 |
| Total tax credits | $0 | $53 | $341 | $605 | $859 | $599 | $0 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $29 | $252 | $457 | $653 | $425 | $0 |
| Child and dependent care credit | $0 | $0 | $0 | $35 | $0 | $45 | $0 |
| Earned income credit | $364 | $818 | $251 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $291 | $725 | $210 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | $4,432 |
| Income tax | $20 | $496 | $1,969 | $4,387 | $7,424 | $15,191 | $59,493 |
| Total tax liability | $191 | $735 | $2,211 | $4,749 | $8,126 | $15,576 | $61,394 |
| Tax due at time of filing | $41 | $135 | $169 | $392 | $997 | $3,673 | $0 |
| Overpayments refunded | $-735 | $-1,855 | $-2,221 | $-2,108 | $-2,550 | $-3,487 | $-6,469 |
| Total Tax Liability / AGI | 6% | 4% | 6% | 8% | 9% | 12% | 19% |
All numbers in the table are 2010 averages for that income class and zip code.
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