1 Ekim 2012 Pazartesi

A look at Adjusted Gross Income (AGI) and Taxes Paid in California.

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The IRS states that Adjusted Gross Income (AGI) is defined as:

"your taxable income from all sources including wages, salaries, tips, taxable interest, ordinary dividends, taxable refunds, credits, or offsets of state and local income taxes, alimony received, business income or loss, capital gains or losses, other gains or losses, taxable IRA distributions, taxable pensions and annuities, rental real estate, royalties, farm income or losses, unemployment compensation, taxable social security benefits, and other income minus specific deductions including educator expenses, the IRA deduction, student loan interest deduction, tuition and fees deduction, Archer MSA deduction, moving expenses, one-half of self-employment tax, self-employed health insurance deduction, self-employed SEP, SIMPLE, and qualified plans, penalty on early withdrawal of savings, and alimony paid by you. Do not deduct your standard or itemized deductions."

In a previous post, I had some Data on this subject dating from 2004.

Los Angeles County:

Median adjusted gross income (AGI) based on personal income tax returns, 2004:
Individual: $28,686
Joint: $52,170

California:

Median adjusted gross income based on personal income tax returns, 2004:
Individual: $33,223
Joint: $61,084

With a little bit of research, I found more recent data from the Franchise Tax Board 2005 Personal Income Tax Stats by Zip code (pdf warning). If you are feeling adventurous, you can produce statistics for Los Angeles County from this list of zip codes (pdf warning).

I'm feeling lazy, so here's some statistics using the state totals at the end of the file.

Returns: 14,607,696
AGI: $849,740,344,000
Tax Liability: $38,747,288,000

Basic Analysis:

Average AGI: $58,171
Average Tax: $2,653
Effective Tax Rate: 4.56%

More in Depth:

I pulled some additional data from the California Department of Finance Financial and Economic Data on the State of California as a whole.

Population in households (1/06): 36,307,217
Households: 12,366,218
Civilian labor force, 2006: 17,901,900
Non-workers: 18,405,317

Population/household (1/06): 2.936
Workers per Household: 1.448
Nonworkers per household: 1.488

Returns per person: 0.402
Returns per household: 1.181
Returns per worker: 0.816

AGI per person: $23,404.17
AGI per household: $68,714.65
AGI per worker: $47,466.49

Tax per person: $1,067.21
Tax per household: $3,133.32
Tax per worker: $2,164.42

Conclusion:

Obviously, this data isn't hugely meaningful by itself. AGI has some pretty oddball adjustments. But it does sort of paint a picture of the financial situation of the average Californian worker and household.

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