IRS Income Data for Franklin, KY 42134
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 20% | 26% | 27% | 14% | 7% | 4% | 1% |
| Number of returns | 1,426 | 1,822 | 1,928 | 1,004 | 499 | 317 | 49 |
| Number of joint returns | 198 | 454 | 816 | 787 | 453 | 296 | 47 |
| Number of returns from paid preparer | 933 | 1,292 | 1,354 | 732 | 376 | 246 | 42 |
| Total number of exemptions | 1,663 | 3,333 | 4,102 | 2,618 | 1,400 | 881 | 120 |
| Total number of dependents | 295 | 679 | 793 | 470 | 257 | 155 | 14 |
| Adjusted gross income | $3,699 | $17,091 | $35,700 | $60,954 | $85,710 | $126,760 | $427,014 |
| Salaries and wages | $4,396 | $13,281 | $30,331 | $48,526 | $68,044 | $88,014 | $94,264 |
| Taxable interest | $363 | $481 | $552 | $1,050 | $1,456 | $2,655 | $10,990 |
| Ordinary dividends | $84 | $131 | $189 | $598 | $960 | $2,039 | $15,631 |
| Business or professional net income | $279 | $1,203 | $517 | $1,189 | $925 | $4,307 | $48,834 |
| Net capital gain | $67 | $84 | $129 | $337 | $1,118 | $4,354 | $66,625 |
| Taxable individual retirement account distributions | $138 | $425 | $580 | $1,347 | $1,432 | $3,147 | $0 |
| Taxable pensions and annuities | $356 | $1,227 | $2,069 | $4,177 | $6,809 | $7,940 | $6,136 |
| Unemployment compensation | $103 | $442 | $607 | $675 | $608 | $261 | $0 |
| Taxable Social Security benefits | $0 | $56 | $738 | $2,474 | $2,591 | $2,945 | $9,383 |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $923 | $0 |
| Total itemized deductions | $677 | $1,342 | $3,348 | $7,523 | $12,077 | $18,100 | $47,014 |
| State and local income taxes | $36 | $60 | $518 | $1,648 | $3,206 | $6,278 | $22,264 |
| State and local general sales tax | $6 | $24 | $26 | $28 | $45 | $0 | $0 |
| Real estate taxes | $36 | $69 | $196 | $401 | $678 | $1,130 | $1,736 |
| Taxes paid | $110 | $170 | $793 | $2,208 | $4,146 | $7,789 | $24,584 |
| Mortgage interest paid | $264 | $442 | $1,310 | $2,707 | $4,483 | $5,479 | $1,871 |
| Contributions | $22 | $171 | $440 | $1,130 | $2,020 | $3,816 | $10,542 |
| Taxable income | $225 | $4,303 | $18,496 | $38,619 | $59,704 | $96,735 | $371,507 |
| Total tax credits | $0 | $73 | $396 | $745 | $892 | $479 | $113 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $39 | $303 | $560 | $660 | $329 | $0 |
| Child and dependent care credit | $0 | $4 | $20 | $26 | $53 | $48 | $0 |
| Earned income credit | $420 | $1,124 | $292 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $373 | $998 | $240 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | $2,944 |
| Income tax | $29 | $387 | $1,859 | $4,448 | $7,432 | $16,259 | $92,371 |
| Total tax liability | $159 | $609 | $2,063 | $4,807 | $7,834 | $17,657 | $99,495 |
| Tax due at time of filing | $51 | $68 | $160 | $411 | $638 | $2,481 | $15,173 |
| Overpayments refunded | $-789 | $-2,212 | $-2,257 | $-2,048 | $-2,492 | $-1,964 | $-1,435 |
| Total Tax Liability / AGI | 4% | 4% | 6% | 8% | 9% | 14% | 23% |
All numbers in the table are 2010 averages for that income class and zip code.
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