IRS Income Data for Memphis, TX 79245
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 22% | 32% | 24% | 13% | 6% | 4% | 0% |
| Number of returns | 220 | 318 | 238 | 125 | 55 | 36 | 0 |
| Number of joint returns | 39 | 95 | 137 | 98 | 50 | 32 | 0 |
| Number of returns from paid preparer | 132 | 199 | 157 | 84 | 34 | 33 | 0 |
| Total number of exemptions | 294 | 661 | 594 | 312 | 163 | 85 | 0 |
| Total number of dependents | 57 | 148 | 114 | 55 | 36 | 0 | 0 |
| Adjusted gross income | $3,063 | $17,021 | $35,097 | $60,070 | $87,553 | $195,768 | |
| Salaries and wages | $4,322 | $13,526 | $27,613 | $44,265 | $66,723 | $29,661 | |
| Taxable interest | $185 | $511 | $561 | $1,942 | $1,398 | $5,649 | |
| Ordinary dividends | $26 | $47 | $64 | $696 | $0 | $862 | |
| Business or professional net income | $521 | $1,271 | $1,222 | $1,474 | $2,324 | $0 | |
| Net capital gain | $0 | $-64 | $0 | $716 | $0 | $24,194 | |
| Taxable individual retirement account distributions | $0 | $315 | $469 | $961 | $0 | $0 | |
| Taxable pensions and annuities | $495 | $1,251 | $2,930 | $4,665 | $4,350 | $0 | |
| Unemployment compensation | $0 | $0 | $411 | $0 | $0 | $0 | |
| Taxable Social Security benefits | $0 | $0 | $1,226 | $3,606 | $5,025 | $7,920 | |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total itemized deductions | $0 | $1,005 | $1,464 | $3,708 | $7,635 | $13,241 | |
| State and local income taxes | $0 | $0 | $0 | $228 | $0 | $0 | |
| State and local general sales tax | $0 | $0 | $88 | $171 | $0 | $644 | |
| Real estate taxes | $0 | $0 | $133 | $178 | $441 | $564 | |
| Taxes paid | $0 | $46 | $177 | $445 | $1,024 | $1,495 | |
| Mortgage interest paid | $0 | $0 | $268 | $307 | $1,658 | $0 | |
| Contributions | $0 | $0 | $400 | $579 | $0 | $5,570 | |
| Taxable income | $77 | $3,336 | $16,330 | $39,185 | $61,985 | $166,014 | |
| Total tax credits | $0 | $53 | $366 | $625 | $1,062 | $0 | |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | |
| Child tax credit | $0 | $38 | $293 | $532 | $905 | $0 | |
| Child and dependent care credit | $0 | $0 | $0 | $0 | $0 | $0 | |
| Earned income credit | $549 | $1,458 | $425 | $0 | $0 | $0 | |
| Excess earned income credit | $501 | $1,355 | $361 | $0 | $0 | $0 | |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $0 | |
| Income tax | $8 | $307 | $1,565 | $4,534 | $7,821 | $30,275 | |
| Total tax liability | $109 | $529 | $1,956 | $4,963 | $8,123 | $33,894 | |
| Tax due at time of filing | $27 | $125 | $411 | $747 | $910 | $8,706 | |
| Overpayments refunded | $-813 | $-2,605 | $-2,132 | $-1,875 | $-3,669 | $-1,289 | |
| Total Tax Liability / AGI | 4% | 3% | 6% | 8% | 9% | 17% |
All numbers in the table are 2010 averages for that income class and zip code.
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