IRS Income Data for Minneapolis, MN 55403
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 16% | 21% | 30% | 13% | 6% | 7% | 6% |
| Number of returns | 1,401 | 1,798 | 2,541 | 1,113 | 517 | 636 | 489 |
| Number of joint returns | 48 | 74 | 132 | 148 | 132 | 273 | 317 |
| Number of returns from paid preparer | 505 | 594 | 780 | 488 | 246 | 372 | 388 |
| Total number of exemptions | 1,351 | 2,085 | 2,879 | 1,318 | 707 | 1,043 | 1,112 |
| Total number of dependents | 103 | 180 | 130 | 42 | 41 | 90 | 165 |
| Adjusted gross income | $3,995 | $17,612 | $36,062 | $60,671 | $85,559 | $137,486 | $638,683 |
| Salaries and wages | $4,901 | $15,397 | $32,979 | $49,913 | $64,396 | $93,477 | $315,953 |
| Taxable interest | $371 | $271 | $234 | $829 | $1,834 | $3,394 | $19,294 |
| Ordinary dividends | $532 | $309 | $402 | $1,289 | $2,080 | $6,636 | $47,815 |
| Business or professional net income | $-198 | $655 | $736 | $1,638 | $2,167 | $4,676 | $20,672 |
| Net capital gain | $192 | $73 | $36 | $224 | $525 | $3,305 | $117,505 |
| Taxable individual retirement account distributions | $57 | $379 | $418 | $1,470 | $3,697 | $6,395 | $10,529 |
| Taxable pensions and annuities | $215 | $557 | $1,110 | $3,429 | $7,632 | $11,286 | $12,770 |
| Unemployment compensation | $99 | $271 | $196 | $145 | $269 | $125 | $0 |
| Taxable Social Security benefits | $0 | $67 | $434 | $1,798 | $3,307 | $5,122 | $5,507 |
| Self-employment retirement plans | $0 | $0 | $31 | $134 | $0 | $484 | $4,163 |
| Total itemized deductions | $1,673 | $1,066 | $2,267 | $7,823 | $14,335 | $28,031 | $129,942 |
| State and local income taxes | $218 | $172 | $321 | $1,748 | $3,873 | $8,385 | $52,539 |
| State and local general sales tax | $2 | $20 | $10 | $29 | $0 | $56 | $0 |
| Real estate taxes | $264 | $140 | $283 | $1,097 | $2,106 | $4,131 | $12,444 |
| Taxes paid | $636 | $285 | $626 | $2,910 | $6,083 | $12,809 | $65,823 |
| Mortgage interest paid | $492 | $331 | $706 | $2,584 | $4,386 | $7,825 | $18,192 |
| Contributions | $15 | $79 | $190 | $706 | $1,532 | $3,818 | $20,756 |
| Taxable income | $290 | $7,632 | $25,079 | $45,437 | $64,598 | $103,065 | $515,231 |
| Total tax credits | $2 | $135 | $183 | $108 | $215 | $261 | $1,575 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $10 | $32 | $31 | $60 | $25 | $0 |
| Child and dependent care credit | $0 | $3 | $5 | $0 | $0 | $12 | $16 |
| Earned income credit | $202 | $251 | $24 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $178 | $223 | $19 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $379 | $8,886 |
| Income tax | $30 | $709 | $3,212 | $7,404 | $11,418 | $20,378 | $137,910 |
| Total tax liability | $111 | $847 | $3,346 | $7,697 | $11,844 | $21,250 | $141,447 |
| Tax due at time of filing | $38 | $111 | $192 | $349 | $521 | $1,486 | $11,539 |
| Overpayments refunded | $-874 | $-1,213 | $-1,264 | $-1,801 | $-2,179 | $-3,103 | $-10,774 |
| Total Tax Liability / AGI | 3% | 5% | 9% | 13% | 14% | 15% | 22% |
All numbers in the table are 2010 averages for that income class and zip code.
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