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ZIP Code 38860 Income and Tax Statistics
Okolona, MS. Individual income tax returns for tax year 2022, from IRS Statistics of Income
- Tax returns
- 2,360
- 4,330 people on returns
- Average adjusted gross income
- $38,185
- Mississippi $64,251
- Average salaries and wages
- $35,485
- Returns with wages
- Average income tax
- $4,294
- Mississippi $10,565
Returns by adjusted gross income
Returns with negative income are not included
- $1 to $24,99999041.9%
- $25,000 to $49,99983035.2%
- $50,000 to $74,99929012.3%
- $75,000 to $99,9991205.1%
- $100,000 to $199,9991305.5%
- $200,000 or more00.0%
Income, credits and taxes in 38860
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 | 2,040 | 86.4% | $72.39M | $35,485 |
| Business or professional income | 490 | 20.8% | -$369K | -$753 |
| Net capital gains | 100 | 4.2% | $362K | $3,620 |
| Taxable pensions and annuities | 390 | 16.5% | $8.12M | $20,823 |
| Taxable Social Security benefits | 270 | 11.4% | $3.64M | $13,496 |
| Itemized deductions | 100 | 4.2% | $2.63M | $26,320 |
| Earned income tax credit | 910 | 38.6% | $2.6M | $2,857 |
| Refundable child tax credit | 580 | 24.6% | $1.05M | $1,814 |
| Income tax after credits | 1,260 | 53.4% | $5.41M | $4,294 |
| Refunds | 1,910 | 80.9% | $6.88M | $3,600 |
Frequently asked questions
- What is the average income in ZIP code 38860?
- For tax year 2022, the average adjusted gross income on the 2,360 individual tax returns filed in 38860 was $38,185, compared with $64,251 for Mississippi.
- How many people in 38860 get the earned income tax credit?
- 910 returns in 38860 (38.6%) 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