Checked
ZIP Code 24401 Income and Tax Statistics
Staunton, VA. Individual income tax returns for tax year 2022, from IRS Statistics of Income
- Tax returns
- 18,360
- 32,160 people on returns
- Average adjusted gross income
- $68,751
- Virginia $100,141
- Average salaries and wages
- $55,719
- Returns with wages
- Average income tax
- $9,286
- Virginia $18,688
Returns by adjusted gross income
Returns with negative income are not included
- $1 to $24,9994,94026.9%
- $25,000 to $49,9994,74025.8%
- $50,000 to $74,9993,22017.5%
- $75,000 to $99,9991,94010.6%
- $100,000 to $199,9992,83015.4%
- $200,000 or more6903.8%
Income, credits and taxes in 24401
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 | 14,700 | 80.1% | $819M | $55,719 |
| Business or professional income | 2,570 | 14.0% | $34.79M | $13,537 |
| Net capital gains | 3,460 | 18.8% | $62.92M | $18,185 |
| Taxable pensions and annuities | 4,420 | 24.1% | $121M | $27,374 |
| Taxable Social Security benefits | 4,010 | 21.8% | $69.97M | $17,449 |
| Itemized deductions | 1,070 | 5.8% | $41.38M | $38,676 |
| Earned income tax credit | 2,500 | 13.6% | $5.51M | $2,205 |
| Refundable child tax credit | 1,740 | 9.5% | $3.12M | $1,792 |
| Income tax after credits | 13,730 | 74.8% | $127M | $9,286 |
| Refunds | 13,080 | 71.2% | $34.22M | $2,616 |
Frequently asked questions
- What is the average income in ZIP code 24401?
- For tax year 2022, the average adjusted gross income on the 18,360 individual tax returns filed in 24401 was $68,751, compared with $100,141 for Virginia.
- How many people in 24401 get the earned income tax credit?
- 2,500 returns in 24401 (13.6%) 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