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ZIP Code 08094 Income and Tax Statistics
Victory Lakes, NJ. Individual income tax returns for tax year 2022, from IRS Statistics of Income
- Tax returns
- 20,750
- 38,160 people on returns
- Average adjusted gross income
- $77,232
- New Jersey $110,957
- Average salaries and wages
- $71,418
- Returns with wages
- Average income tax
- $10,547
- New Jersey $22,935
Returns by adjusted gross income
Returns with negative income are not included
- $1 to $24,9995,07024.4%
- $25,000 to $49,9994,59022.1%
- $50,000 to $74,9993,23015.6%
- $75,000 to $99,9992,36011.4%
- $100,000 to $199,9994,30020.7%
- $200,000 or more1,2005.8%
Income, credits and taxes in 08094
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 | 17,270 | 83.2% | $1.23B | $71,418 |
| Business or professional income | 2,830 | 13.6% | $35.24M | $12,452 |
| Net capital gains | 2,930 | 14.1% | $27.62M | $9,427 |
| Taxable pensions and annuities | 4,690 | 22.6% | $132M | $28,059 |
| Taxable Social Security benefits | 3,780 | 18.2% | $67.79M | $17,934 |
| Itemized deductions | 2,240 | 10.8% | $63.87M | $28,515 |
| Earned income tax credit | 2,310 | 11.1% | $5.17M | $2,236 |
| Refundable child tax credit | 1,670 | 8.0% | $3.08M | $1,843 |
| Income tax after credits | 15,970 | 77.0% | $168M | $10,547 |
| Refunds | 15,170 | 73.1% | $42.35M | $2,791 |
Frequently asked questions
- What is the average income in ZIP code 08094?
- For tax year 2022, the average adjusted gross income on the 20,750 individual tax returns filed in 08094 was $77,232, compared with $110,957 for New Jersey.
- How many people in 08094 get the earned income tax credit?
- 2,310 returns in 08094 (11.1%) 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