IRS Income Data for Minneapolis, MN 55404
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 26% | 33% | 27% | 8% | 3% | 3% | 1% |
| Number of returns | 2,771 | 3,472 | 2,887 | 822 | 306 | 277 | 89 |
| Number of joint returns | 92 | 281 | 416 | 220 | 120 | 139 | 53 |
| Number of returns from paid preparer | 1,252 | 1,786 | 1,272 | 360 | 144 | 165 | 71 |
| Total number of exemptions | 3,486 | 6,116 | 5,125 | 1,361 | 513 | 517 | 173 |
| Total number of dependents | 594 | 1,277 | 804 | 162 | 45 | 56 | 22 |
| Adjusted gross income | $4,697 | $17,358 | $34,622 | $60,119 | $86,249 | $133,061 | $355,772 |
| Salaries and wages | $4,537 | $15,342 | $32,477 | $53,292 | $72,808 | $113,109 | $271,420 |
| Taxable interest | $99 | $112 | $215 | $651 | $1,345 | $1,348 | $5,655 |
| Ordinary dividends | $47 | $101 | $153 | $629 | $1,815 | $1,375 | $8,169 |
| Business or professional net income | $447 | $1,118 | $659 | $1,483 | $670 | $5,726 | $5,347 |
| Net capital gain | $-20 | $6 | $34 | $220 | $228 | $477 | $7,428 |
| Taxable individual retirement account distributions | $43 | $85 | $117 | $630 | $1,314 | $1,801 | $0 |
| Taxable pensions and annuities | $123 | $465 | $803 | $2,106 | $4,723 | $4,299 | $8,228 |
| Unemployment compensation | $87 | $315 | $238 | $219 | $284 | $0 | $0 |
| Taxable Social Security benefits | $0 | $24 | $212 | $834 | $2,128 | $1,439 | $2,670 |
| Self-employment retirement plans | $0 | $15 | $0 | $0 | $0 | $785 | $0 |
| Total itemized deductions | $422 | $481 | $2,036 | $7,506 | $15,462 | $24,939 | $58,943 |
| State and local income taxes | $17 | $26 | $255 | $1,482 | $3,765 | $7,219 | $23,884 |
| State and local general sales tax | $3 | $8 | $10 | $0 | $0 | $0 | $0 |
| Real estate taxes | $56 | $44 | $208 | $852 | $1,680 | $2,998 | $7,274 |
| Taxes paid | $98 | $81 | $487 | $2,395 | $5,528 | $10,361 | $31,856 |
| Mortgage interest paid | $234 | $174 | $881 | $3,371 | $6,032 | $10,146 | $20,585 |
| Contributions | $7 | $52 | $232 | $768 | $2,101 | $2,445 | $5,622 |
| Taxable income | $122 | $5,715 | $20,827 | $42,787 | $62,877 | $100,781 | $291,246 |
| Total tax credits | $0 | $137 | $337 | $379 | $380 | $397 | $204 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $39 | $172 | $236 | $209 | $129 | $0 |
| Child and dependent care credit | $0 | $3 | $11 | $9 | $16 | $0 | $0 |
| Earned income credit | $497 | $933 | $185 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $437 | $817 | $155 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $77 | $4,669 |
| Income tax | $12 | $490 | $2,390 | $6,373 | $10,426 | $19,733 | $79,579 |
| Total tax liability | $131 | $669 | $2,517 | $6,710 | $10,870 | $20,861 | $81,671 |
| Tax due at time of filing | $48 | $82 | $163 | $472 | $681 | $1,313 | $7,597 |
| Overpayments refunded | $-861 | $-1,893 | $-1,621 | $-1,997 | $-3,014 | $-3,430 | $-6,114 |
| Total Tax Liability / AGI | 3% | 4% | 7% | 11% | 13% | 16% | 23% |
All numbers in the table are 2010 averages for that income class and zip code.
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