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ZIP Code 41016 Income and Tax Statistics
Ludlow, KY. Individual income tax returns for tax year 2022, from IRS Statistics of Income
- Tax returns
- 2,630
- 4,380 people on returns
- Average adjusted gross income
- $61,000
- Kentucky $71,685
- Average salaries and wages
- $56,250
- Returns with wages
- Average income tax
- $7,986
- Kentucky $11,526
Returns by adjusted gross income
Returns with negative income are not included
- $1 to $24,99965024.7%
- $25,000 to $49,99977029.3%
- $50,000 to $74,99952019.8%
- $75,000 to $99,99929011.0%
- $100,000 to $199,99933012.5%
- $200,000 or more702.7%
Income, credits and taxes in 41016
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 | 2,250 | 85.6% | $127M | $56,250 |
| Business or professional income | 320 | 12.2% | $4.21M | $13,150 |
| Net capital gains | 300 | 11.4% | $2.49M | $8,297 |
| Taxable pensions and annuities | 490 | 18.6% | $10.91M | $22,255 |
| Taxable Social Security benefits | 360 | 13.7% | $5.32M | $14,769 |
| Itemized deductions | 160 | 6.1% | $3.38M | $21,094 |
| Earned income tax credit | 420 | 16.0% | $1.01M | $2,412 |
| Refundable child tax credit | 310 | 11.8% | $576K | $1,858 |
| Income tax after credits | 1,980 | 75.3% | $15.81M | $7,986 |
| Refunds | 1,980 | 75.3% | $4.89M | $2,471 |
Frequently asked questions
- What is the average income in ZIP code 41016?
- For tax year 2022, the average adjusted gross income on the 2,630 individual tax returns filed in 41016 was $61,000, compared with $71,685 for Kentucky.
- How many people in 41016 get the earned income tax credit?
- 420 returns in 41016 (16.0%) 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