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ZIP Code 07070 Income and Tax Statistics
Rutherford, NJ. Individual income tax returns for tax year 2022, from IRS Statistics of Income
- Tax returns
- 9,310
- 17,100 people on returns
- Average adjusted gross income
- $129,896
- New Jersey $110,957
- Average salaries and wages
- $118,454
- Returns with wages
- Average income tax
- $23,895
- New Jersey $22,935
Returns by adjusted gross income
Returns with negative income are not included
- $1 to $24,9991,80019.3%
- $25,000 to $49,9991,34014.4%
- $50,000 to $74,9991,41015.1%
- $75,000 to $99,9991,03011.1%
- $100,000 to $199,9992,13022.9%
- $200,000 or more1,60017.2%
Income, credits and taxes in 07070
Returns that reported each item, the total amount and the average for those returns
Swipe the table sideways to see more columns.
| Item | Returns | Share of returns | Total | Average |
|---|---|---|---|---|
| Salaries and wages | 7,650 | 82.2% | $906M | $118,454 |
| Business or professional income | 1,840 | 19.8% | $38.36M | $20,849 |
| Net capital gains | 2,830 | 30.4% | $41.17M | $14,548 |
| Taxable pensions and annuities | 1,740 | 18.7% | $59.7M | $34,307 |
| Taxable Social Security benefits | 1,460 | 15.7% | $33.64M | $23,043 |
| Itemized deductions | 1,580 | 17.0% | $56.12M | $35,516 |
| Earned income tax credit | 560 | 6.0% | $1.01M | $1,805 |
| Refundable child tax credit | 320 | 3.4% | $586K | $1,831 |
| Income tax after credits | 7,680 | 82.5% | $184M | $23,895 |
| Refunds | 5,630 | 60.5% | $17.8M | $3,161 |
Frequently asked questions
- What is the average income in ZIP code 07070?
- For tax year 2022, the average adjusted gross income on the 9,310 individual tax returns filed in 07070 was $129,896, compared with $110,957 for New Jersey.
- How many people in 07070 get the earned income tax credit?
- 560 returns in 07070 (6.0%) claimed the earned income tax credit for tax year 2022.
- Why might these numbers differ from Census income figures?
- IRS figures count tax returns, not households, and use adjusted gross income from the return. People who do not file a return are not included.
Source: Internal Revenue Service, Statistics of Income · Tax year 2022