State Reports on Median Income for 2002

[Franchise Tax Board via BizWire]

SACRAMENTO, Calif.--(BUSINESS WIRE)--April 29, 2004--Four Bay Area
counties reported the highest median income while the median income of
all state returns rose slightly in 2002, according to the Franchise
Tax Board (FTB).
The statewide median income on all returns was $31,734, an
increase of 0.2 percent over 2001's median income amount. For joint
returns, the statewide median income was $57,996, a decrease of 0.6
percent from 2001.
"Median income" is the point where one-half of the tax returns are
above and one-half are below the midpoint of the range of values.
Median income represents the income reported by a typical California
person or couple.
Californians filed nearly 14 million 2002 state income tax returns
with the FTB, reporting $860.9 billion of adjusted gross income.
Adjusted gross income is a tax term that means gross income minus
specific tax deductions, but before Federal Schedule A itemized
deductions. This is a decrease of 3.4 percent from the 2001 tax year's
reported $891.1 billion.
Over the past 31 years, the Bay Area counties of Contra Costa,
Marin, San Mateo, and Santa Clara have consistently reported the
highest median incomes. Marin County recorded the highest median
income for joint returns, reporting $92,481, a decrease of 4.5 percent
over 2001. Santa Clara County ranked second with $82,150, while San
Mateo County ranked third with $81,259 and Contra Costa County ranked
fourth with $78,670.
Los Angeles County taxpayers filed 25.9 percent of all 2002 income
tax returns in California. They reported median incomes of $27,164 for
all returns, and $48,798 for joint returns, ranking 39th and 33rd
respectively.
The largest percentage gain in median income for all counties was
6.8 percent, reported in Alpine County. For joint returns, Alpine
County again reported the largest increase of 8.4 percent.

Editor's Note: For 1999, 2000, 2001 and 2002 data, please see our
Web site at http://www.ftb.ca.gov/aboutFTB/press/index.html.