IRS Income Data for Racine, MN 55967
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 14% | 17% | 24% | 17% | 14% | 15% | 0% |
| Number of returns | 58 | 75 | 102 | 71 | 59 | 64 | 0 |
| Number of joint returns | 0 | 25 | 39 | 55 | 55 | 62 | 0 |
| Number of returns from paid preparer | 38 | 55 | 74 | 56 | 46 | 45 | 0 |
| Total number of exemptions | 31 | 118 | 195 | 205 | 172 | 192 | 0 |
| Total number of dependents | 0 | 16 | 27 | 35 | 29 | 32 | 0 |
| Adjusted gross income | $1,611 | $17,164 | $37,022 | $62,233 | $86,337 | $139,769 | |
| Salaries and wages | $4,026 | $11,716 | $27,976 | $50,946 | $78,109 | $95,379 | |
| Taxable interest | $116 | $458 | $1,301 | $880 | $689 | $3,662 | |
| Ordinary dividends | $0 | $280 | $517 | $146 | $75 | $651 | |
| Business or professional net income | $0 | $575 | $1,821 | $2,427 | $-523 | $1,576 | |
| Net capital gain | $-29 | $0 | $323 | $654 | $0 | $720 | |
| Taxable individual retirement account distributions | $0 | $0 | $915 | $0 | $0 | $0 | |
| Taxable pensions and annuities | $0 | $2,497 | $2,032 | $1,927 | $4,387 | $0 | |
| Unemployment compensation | $0 | $0 | $677 | $0 | $1,079 | $0 | |
| Taxable Social Security benefits | $0 | $0 | $1,106 | $2,334 | $4,691 | $0 | |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total itemized deductions | $2,538 | $0 | $5,156 | $9,143 | $12,526 | $23,280 | |
| State and local income taxes | $0 | $0 | $850 | $1,268 | $2,541 | $7,562 | |
| State and local general sales tax | $0 | $0 | $0 | $0 | $0 | $0 | |
| Real estate taxes | $0 | $0 | $652 | $770 | $1,321 | $1,885 | |
| Taxes paid | $0 | $0 | $1,305 | $2,187 | $3,971 | $9,703 | |
| Mortgage interest paid | $0 | $0 | $2,283 | $4,170 | $6,483 | $8,984 | |
| Contributions | $0 | $0 | $327 | $921 | $968 | $2,098 | |
| Taxable income | $339 | $4,843 | $19,991 | $37,513 | $58,771 | $95,943 | |
| Total tax credits | $0 | $70 | $302 | $1,008 | $1,211 | $708 | |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | |
| Child tax credit | $0 | $0 | $171 | $641 | $712 | $589 | |
| Child and dependent care credit | $0 | $0 | $69 | $0 | $196 | $0 | |
| Earned income credit | $0 | $630 | $163 | $0 | $0 | $0 | |
| Excess earned income credit | $0 | $528 | $0 | $0 | $0 | $0 | |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | |
| Income tax | $34 | $452 | $2,138 | $3,990 | $7,002 | $16,145 | |
| Total tax liability | $61 | $768 | $2,736 | $4,750 | $7,272 | $16,797 | |
| Tax due at time of filing | $0 | $230 | $598 | $723 | $287 | $2,941 | |
| Overpayments refunded | $-328 | $-1,216 | $-1,831 | $-1,804 | $-2,500 | $-1,816 | |
| Total Tax Liability / AGI | 4% | 4% | 7% | 8% | 8% | 12% |
All numbers in the table are 2010 averages for that income class and zip code.
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