IRS Income Data for Minnesota Lake, MN 56068
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 21% | 21% | 23% | 16% | 10% | 6% | 2% |
| Number of returns | 118 | 119 | 129 | 90 | 54 | 32 | 12 |
| Number of joint returns | 13 | 27 | 48 | 69 | 49 | 30 | 10 |
| Number of returns from paid preparer | 76 | 84 | 100 | 72 | 50 | 30 | 11 |
| Total number of exemptions | 108 | 181 | 240 | 227 | 154 | 91 | 31 |
| Total number of dependents | 15 | 29 | 38 | 35 | 25 | 17 | 0 |
| Adjusted gross income | $3,047 | $17,502 | $35,571 | $62,000 | $86,283 | $123,734 | $329,046 |
| Salaries and wages | $4,209 | $12,394 | $29,220 | $44,362 | $60,392 | $92,643 | $0 |
| Taxable interest | $419 | $830 | $724 | $1,704 | $1,279 | $849 | $13,229 |
| Ordinary dividends | $59 | $19 | $160 | $72 | $167 | $1,049 | $0 |
| Business or professional net income | $765 | $1,316 | $239 | $482 | $1,353 | $7,966 | $0 |
| Net capital gain | $-54 | $190 | $-48 | $258 | $1,212 | $-255 | $0 |
| Taxable individual retirement account distributions | $0 | $247 | $684 | $0 | $6,595 | $0 | $0 |
| Taxable pensions and annuities | $0 | $876 | $1,169 | $2,687 | $4,601 | $0 | $0 |
| Unemployment compensation | $0 | $0 | $450 | $263 | $0 | $0 | $0 |
| Taxable Social Security benefits | $0 | $0 | $1,037 | $3,464 | $0 | $6,233 | $0 |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total itemized deductions | $0 | $1,471 | $2,807 | $7,576 | $9,806 | $12,528 | $0 |
| State and local income taxes | $0 | $0 | $361 | $1,549 | $2,479 | $12,613 | $0 |
| State and local general sales tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Real estate taxes | $0 | $0 | $261 | $615 | $854 | $2,067 | $0 |
| Taxes paid | $0 | $170 | $589 | $2,248 | $3,423 | $5,743 | $0 |
| Mortgage interest paid | $0 | $0 | $1,431 | $2,423 | $4,009 | $4,493 | $0 |
| Contributions | $302 | $0 | $170 | $1,229 | $733 | $2,044 | $0 |
| Taxable income | $393 | $5,492 | $19,678 | $39,619 | $60,767 | $96,363 | $289,181 |
| Total tax credits | $0 | $100 | $378 | $866 | $1,354 | $773 | $0 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $0 | $237 | $628 | $854 | $0 | $0 |
| Child and dependent care credit | $0 | $31 | $0 | $85 | $0 | $0 | $0 |
| Earned income credit | $235 | $780 | $131 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $187 | $682 | $108 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Income tax | $38 | $491 | $2,078 | $4,389 | $7,194 | $14,919 | $73,010 |
| Total tax liability | $265 | $870 | $2,296 | $5,174 | $8,579 | $20,481 | $78,982 |
| Tax due at time of filing | $106 | $330 | $227 | $1,345 | $1,890 | $21,101 | $0 |
| Overpayments refunded | $-442 | $-1,669 | $-1,727 | $-1,097 | $-1,742 | $-938 | $0 |
| Total Tax Liability / AGI | 9% | 5% | 6% | 8% | 10% | 17% | 24% |
All numbers in the table are 2010 averages for that income class and zip code.
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