IRS Income Data for Minneapolis, MN 55427
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 15% | 17% | 26% | 16% | 11% | 13% | 2% |
| Number of returns | 1,867 | 2,028 | 3,119 | 1,956 | 1,357 | 1,582 | 258 |
| Number of joint returns | 106 | 289 | 670 | 904 | 1,015 | 1,386 | 222 |
| Number of returns from paid preparer | 777 | 1,025 | 1,451 | 991 | 697 | 810 | 182 |
| Total number of exemptions | 1,530 | 2,899 | 5,070 | 3,943 | 3,396 | 4,361 | 739 |
| Total number of dependents | 180 | 429 | 708 | 612 | 566 | 741 | 137 |
| Adjusted gross income | $3,924 | $17,292 | $36,726 | $61,560 | $86,744 | $130,238 | $364,932 |
| Salaries and wages | $4,118 | $12,641 | $29,746 | $49,014 | $67,758 | $105,450 | $216,054 |
| Taxable interest | $306 | $524 | $563 | $952 | $1,163 | $1,532 | $13,418 |
| Ordinary dividends | $268 | $440 | $471 | $950 | $1,249 | $2,116 | $12,222 |
| Business or professional net income | $331 | $885 | $822 | $1,380 | $1,616 | $2,963 | $9,884 |
| Net capital gain | $-73 | $-60 | $3 | $206 | $254 | $1,554 | $21,595 |
| Taxable individual retirement account distributions | $175 | $936 | $1,161 | $1,601 | $2,846 | $3,240 | $7,475 |
| Taxable pensions and annuities | $401 | $1,894 | $2,713 | $4,418 | $6,863 | $7,719 | $5,641 |
| Unemployment compensation | $55 | $364 | $341 | $390 | $389 | $286 | $0 |
| Taxable Social Security benefits | $0 | $127 | $1,141 | $2,625 | $4,036 | $3,243 | $4,057 |
| Self-employment retirement plans | $0 | $0 | $34 | $0 | $92 | $307 | $2,622 |
| Total itemized deductions | $1,346 | $2,390 | $5,113 | $11,698 | $16,811 | $23,780 | $57,709 |
| State and local income taxes | $82 | $152 | $569 | $1,950 | $3,579 | $7,006 | $27,473 |
| State and local general sales tax | $12 | $28 | $31 | $27 | $36 | $0 | $0 |
| Real estate taxes | $183 | $354 | $726 | $1,706 | $2,481 | $3,261 | $5,451 |
| Taxes paid | $285 | $547 | $1,382 | $3,785 | $6,224 | $10,541 | $33,307 |
| Mortgage interest paid | $490 | $696 | $2,041 | $4,945 | $7,027 | $8,288 | $11,310 |
| Contributions | $49 | $250 | $530 | $1,151 | $1,831 | $3,417 | $11,625 |
| Taxable income | $349 | $5,633 | $21,402 | $39,875 | $59,133 | $96,251 | $298,459 |
| Total tax credits | $4 | $101 | $299 | $508 | $784 | $477 | $1,546 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $23 | $161 | $363 | $541 | $341 | $0 |
| Child and dependent care credit | $0 | $8 | $19 | $31 | $58 | $50 | $59 |
| Earned income credit | $201 | $535 | $117 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $172 | $482 | $97 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $65 | $4,302 |
| Income tax | $32 | $514 | $2,461 | $5,322 | $8,038 | $16,571 | $76,984 |
| Total tax liability | $118 | $682 | $2,644 | $5,580 | $8,375 | $17,146 | $78,999 |
| Tax due at time of filing | $42 | $87 | $207 | $331 | $411 | $1,166 | $8,936 |
| Overpayments refunded | $-515 | $-1,439 | $-1,658 | $-2,094 | $-2,411 | $-2,658 | $-4,305 |
| Total Tax Liability / AGI | 3% | 4% | 7% | 9% | 10% | 13% | 22% |
All numbers in the table are 2010 averages for that income class and zip code.
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