Corporate Foreign Tax Credit, 1996: An Industry and Geographic Focus
Nick Ward
Worldwide taxable income, foreign-source taxable income, and current-year foreign taxes paid, accrued, or deemed paid all continued their recent upward trends for 1996. This allowed U.S. corporations to claim a record high foreign tax credit of $40.3 billion for 1996 as income and taxes increased across the board. Reductions in creditable taxes and the inclusion of prior-year taxes continue to play stable though minor roles in determining the amount of foreign tax credit claimed. As in prior years, the United Kingdom, Canada, and Japan continued to generate the most foreign-source taxable income. One recent change, though, has been in the industries of the corporations earning foreign-source income and claiming foreign tax credits. Finance, insurance, and real estate corporations have been rapidly increasing their share of foreign income and foreign tax credit since 1990. U.S. corporations with foreign tax credits can no longer be characterized primarily as manufacturers involved in foreign oil and gas extraction or in the foreign production of goods. Banking and services are gradually becoming more significant abroad and claiming an increasing amount of the foreign tax credit.
For 1996, U.S. corporations were able to claim a record-high foreign tax credit of $40.3 billion. This amount represents an increase of nearly $10 billion from 1995. Corporations with credits earned $150.8 billion in foreign-source taxable income, paying $41.2 billion in income taxes to foreign governments. Under the foreign tax credit provisions, these corporations were able to lower their regular U. S. tax liability from $130.7 billion (U.S. income tax before credits) to $90.5 billion, a 30.8-percent reduction. Other credits, including the U.S. possessions tax credit and the general business credit, further reduced their U.S. tax liability to $84.3 billion.
U.S. manufacturers remain the most significant industry group in the key measurements of foreign activity. U.S. manufacturers accounted for 66 percent of total foreign-source taxable income, 71 percent of total current-year foreign taxes paid, accrued, or deemed paid, and nearly 73 percent of total foreign tax credit claimed for 1996 [1]. However, the types of U.S. corporations receiving foreign-source taxable income have expanded and diversified in recent years. Corporations classified in the finance, insurance, and real estate industry grouping (FIRE) have rapidly increased their shares of both foreign-source taxable income and total foreign tax credit claimed. This industry’s share of the total foreign tax credit claimed has more than doubled from less than 7 percent for 1990 to almost 16 percent for 1996.
As in prior years, the largest shares of foreign-source taxable income were generated in the United Kingdom, Canada, Japan, Germany, and the Netherlands. With nearly $20 billion of the $150.8 billion (or 13.2 percent) in foreign-source taxable income, the United Kingdom provided the largest amount of income. Overall, the 12 nations of the European Economic Community combined for 38 percent of foreign-source taxable income, 21 percent of current-year taxes paid or accrued, and 45 percent of current-year tax deemed paid.
Background
U.S. corporations are subject to U.S. taxation on their worldwide income [2]. Their foreign-source income is also subject to taxation by the country in which the income is earned. Double taxation of U.S. corporation’s income occurs when the same income is taxed first by the foreign government and, again, by the U.S. Since the Revenue Act of 1918, the foreign tax credit has served to reduce the impact of double taxation. The foreign tax credit provisions allow U.S. corporations to offset a portion or all of the U.S. tax on their foreign source taxable income with a credit for taxes paid to a foreign tax authority [3].
Although foreign tax credit provisions have been present for over 80 years, their nature and restrictions have been modified many times. The first limitation, an “overall limitation” on the amount of the foreign tax credits, was first introduced as part of the Revenue Act of 1921. Prior to this alteration, the provisions allowed an unlimited credit that, in effect, offset some of the U.S. tax on income earned within the United States. Congress included the overall limitation to restrict the foreign tax credit to an amount equivalent to the U.S. tax on foreign-source taxable income. Computationally, this limitation is equal to the amount of U.S. tax multiplied by the ratio of foreign-source to worldwide taxable income. This places a ceiling on the amount of creditable taxes. Corporations are then allowed to credit the lesser of their creditable taxes or the amount of this limit. Except for a brief period beginning after the enactment of the Internal Revenue Code of 1954 and lasting until the passage of Public Law 86-870 in 1960, the overall limitation has been an integral part of the foreign tax credit provisions.
At various times, Congress has also incorporated a “per-country” limitation, which required taxpayers to calculate a foreign tax credit limitation on a country-by-country basis. Congress included this limitation to prevent taxpayers from using foreign taxes incurred in a higher-tax foreign country to offset U.S. taxes on income earned in a lower-tax foreign country. In various forms, this per-country limitation was operational from 1932 until 1976. For the periods 1932-1954 and 1960-1976, both the per-country limitation and the overall limitation were in effect.
Beginning with the passage of the Revenue Act of 1962, foreign tax credit limitations based on statutory categories of income have also been included in the foreign tax credit provisions. Initially, under the 1962 Act, Congress required taxpayers to compute a separate limitation for nonbusiness interest income. The intent of this requirement was to remove the incentive for corporations with foreign-source income, taxed at rates in excess of the U.S. rate, from making interest-bearing investments abroad to generate additional foreign income. Since this foreign source income was subject to little or no foreign tax, this additional lower-taxed foreign income, combined with the higher-taxed foreign income, enabled corporations to increase the total foreign tax credit claimed.
The purpose of each limitation has remained the same even as the number of separate categories of income requiring separate limitations has increased dramatically, especially under the provisions of Tax Reform Act of 1986. For 1996, taxpayers had to compute a separate foreign tax credit limitation for the following statutory categories of foreign-source income (described in the Explanation of Selected Terms section below): passive income, high withholding tax interest, financial services income, shipping income, dividends from “noncontrolled” section 902 foreign corporations, dividends from Interest Charge-Domestic International Sales Corporations (IC-DISC’s) or former DISC’s, taxable foreign trade income attributable to Foreign Sales Corporations (FSC’s) [4], certain distributions from Foreign Sales Corporations (FSC’s) or former FSC’s. and “all other income from outside the United States” (commonly referred to as general limitation income): Income re-sourced by Treaty (under Section 904(g) primarily) and income from sanctioned countries (Section 901 (j)) became separate limitation categories under the Taxpayer Relief Act of 1997. For 1996, however, both income categories are included in a combined limitation category.
In addition, Congress first allowed a carryover of “unused” foreign tax credits in the Technical Amendments Act of 1958. For 1996, the carryover provision allowed foreign taxes that exceeded the limitations to first be carried back 2 years and then carried forward 5 years and used as a credit for those years, to the extent the foreign taxes did not exceed the limitations for each year. The foreign taxes available for the credit shown in this article include only those carried forward to 1996 from previous years; no taxes carried back to 1996 are include in the statistics.
Foreign Tax Credit
The foreign tax credit of $40.3 billion for 1996 easily eclipses the former record-high of $36.8 billion claimed for 1979 [5]. The $40.3 billion also represents an increase by nearly one-third from 1995. The reason behind this large increase appears to be simple; the components of the foreign tax credit all increased. Figure A shows the major components of the foreign tax credit calculation–income subject to U.S. tax (or worldwide income), U.S. income tax before credits, foreign-source taxable income, current-year foreign taxes, and the resulting total foreign tax credit claimed–for 1992 through 1996. As shown in Figure A, income subject to U.S. tax (worldwide income), U.S. income tax before credits, foreign-source taxable income, and current-year foreign taxes have all climbed steadily as the foreign tax credit rose from $21.5 billion for 1992 to $40.3 billion for 1996. During those 5 years, an 87-percent increase in foreign tax credit accompanied a jump of over 90 percent in income subject to U.S. tax.
Figure A
U.S. Corporation Returns with a Foreign Tax Credit: Income Subject to U.S. Tax, Foreign-Source Taxable Income, Current-Year Foreign Taxes, and Foreign Tax Credit, Tax Years 1992-1996
[Money amounts are in millions of dollars]
U.S.
Income income
Tax year Number of subject tax
returns to U.S. before
tax credits
(1) (2) (3)
1992 5,147 194,204 67,942
1993 6,322 228,688 81,913
1994 7,199 255,439 90,786
1995 6,710 303,308 107,996
1996 6,100 370,049 130,748
Foreign-source taxable
income (less loss)(1)
As a
Tax year percentage
Amount of
worldwide
taxable
income(2)
(4) (5)
1992 86,925 44.8
1993 94,687 41.4
1994 101,521 39.7
1995 120,518 39.7
1996 150,826 40.8
Current-year
foreign taxes(3)
As a
Tax year percentage
Amount of
foreign-
source
income(4)
(6) (7)
1992 22,574 26.0
1993 23,716 25.0
1994 26,470 26.1
1995 30,930 25.7
1996 41,177 27.3
Foreign tax
credit
As a
Tax year percentage
Amount(5) of
U.S. income
tax(6)
(8) (9)
1992 21,533 31.7
1993 22,895 28.0
1994 25,419 28.0
1995 30,416 28.2
1996 40,255 30.8
(1) For 1996, foreign-source taxable income is reported as “foreign taxable income (less loss) before adjustments,” in Table 1, column 37 at the end of this article.
(2) Foreign-source taxable income (column 4) divided by income subject to U.S. tax (column 2). Worldwide taxable income is equal to income subject to U.S. tax.
(3) For 1996, current-year foreign taxes are reported as “foreign taxes paid, accrued, and deemed paid” in Table 1, column 43, at the end of this article.
(4) Current-year foreign taxes (column 6) divided by foreign-source taxable income (column 4).
(5) The difference between current-year foreign taxes (column 6) and the foreign tax credit is due to: (1) carryforward of creditable taxes from prior years, (2) reduction of certain non-creditable current-year taxes, and (3) the effect of the credit limitation.
(6) Foreign tax credit (column 8) divided by U.S. income tax before credits (column 3).
More importantly, the large increases in income and taxes have been proportionate, leaving the components internally consistent for 1992 through 1996. With the exception of 1992, foreign-source taxable income as a percentage of worldwide income (column 5) has remained in the 39-to-41-percent range. Current-year foreign taxes as a percentage of foreign-source income, which serves as a proxy for the effective tax rate imposed by foreign governments on U.S. corporations’ foreign-source taxable income, has been only slightly variable, residing within the range of 25 to 27 percent. Also, corporations were able to offset a slightly higher percentage of their U.S. income tax (30.8 percent) for 1996 than for 1993, 1994, or 1995, but not as much as for 1992 (when the higher percentage of foreign-source income, mentioned above, increased the limitation). The overall effect of these slightly varying percentages, however, is minimal. U.S. corporations have experienced stable and balanced increases in both worldwide and foreign-source income since 1992. Current-year foreign taxes and the foreign tax credit claimed have merely followed the trend.
Factors Affecting the Amount of Foreign Tax Credit Claimed
As seen in Figure A, the current-year foreign taxes comprise a great deal of corporations’ eventual foreign tax credit. Greater taxes paid can, subject to the effects of the limitation provisions, result in a greater credit. The foreign tax credit, however, includes more than just current-year foreign taxes. The total pool of creditable taxes available to a corporation equals current-year foreign taxes, minus certain non-creditable current-year foreign taxes, plus carryover of creditable taxes from prior years [6].
For 1996, corporations were required to reduce their pool of current-year foreign taxes available for credit by nearly $1.8 billion. This represents an increase from 1992 and 1994, but a slight drop in relative importance as the percentage of taxes eventually reduced dropped from almost 6 percent for 1992 to 5 percent for 1994 to 4.3 percent for 1996. The bulk of this reduction, recorded on Form 1118, Schedule G, Reduction of Taxes, Paid, Accrued, or Deemed Paid, is from reductions of oil and gas extraction taxes under Section 907. To a much smaller extent, corporations are also required to reduce their pool of current-year taxes available for credit under a variety of other provisions, including Internal Revenue Code section 901 (j), which disallows certain taxes paid to sanctioned countries. The amount of current-year taxes disallowed for credit has been relatively small since the mid 1980’s. Figure B shows the total pool of current-year foreign taxes for the past 10 even years by combining the amount of the reduction with the amount of creditable current-year taxes after reduction. The full height of each bar indicates how much credit would have been available to corporations without the reduction provisions described above. Corporations have been required to reduce their creditable current-year foreign taxes an average of only 5 percent since the mid-1980’s. Before then, and especially in the late 1970’s, reductions in taxes related to oil and gas extraction played a much bigger role. For 1978, 1980, and 1982, for example, current-year foreign taxes were reduced by 19.3, 13.7, and 9.1 percent; respectively.
[Figure B ILLUSTRATION OMITTED]
After reducing their current-year taxes, the foreign tax credit provisions allow corporations to carry forward unused foreign tax credits for a period of up to 5 years and carry back up to 2 years [7]. As noted earlier, all statistics included in this article and the following tables show only taxes that have been carried forward from prior years. For 1996, corporations carried forward $8.7 billion of prior year taxes in addition to the $41 billion of current-year foreign taxes. Figure C shows carryforward taxes as a percentage of the total pool of taxes available for credit. Clearly, the relative importance of carryforward taxes has varied, but has stabilized recently. Carryforward taxes have accounted for roughly 20 percent of corporations’ creditable taxes since 1992. The amount of carryforward has stabilized since being much more volatile (and significant) in the late 1970’s and early 1980’s. The high carryforward balances of the era were driven by the petroleum industry. For 1978, corporations engaged in oil and gas extraction accounted for $17.3 billion, or 90.1 percent, of the $19.3 billion in carryover indicated for that year. Conversely, for 1996, corporations engaged in oil and gas extraction accounted for less than 5 percent of the $8.7 billion in carryforward taxes. However other oil-related industries are still generating significant amounts of carryforward taxes. Corporations manufacturing petroleum (including integrated) and coal products represented over 41.3 percent ($3.6 billion) of the total tax carried forward to 1996.
[Figure C ILLUSTRATION OMITTED]
Figure D summarizes the factors affecting the foreign tax credit calculation for even tax years 1978 through 1996. The total amount of creditable taxes, after reductions and including taxes carried forward from previous years, is shown in column 5. The difference between these amounts and the amount of credit actually claimed (column 6) reflects the effects of the limitation provisions and (far less significantly) any reductions in credit due to international boycott provisions. For 1996, after all restrictions of the foreign tax credit have been considered, U.S. corporations were able to credit almost 84 percent of their available foreign taxes. This is a slight increase over recent tax years and is considerably higher than in 1978 and 1982 when carryforward amounts were much more significant.
Figure D
U.S. Corporation Returns with a Foreign Tax Credit: The Significance of Current-Year Foreign Taxes, Current-Year Reduction in Taxes, Carryforward Taxes, and the Limitation Provisions of the Foreign Tax Credit, Even Tax Years 1978-1996
[Money amounts are in millions of dollars]
Current- Reduction of Creditable
Tax year year certain current-
foreign current-year year foreign
taxes(1) foreign taxes(2)
taxes
(1) (2) (3)
1978 40,652 7,848 32,804
1980 29,996 4,098 25,898
1982 22,795 2,085 20,710
1984 23,328 1,597 21,731
1986 23,102 1,060 22,042
1988 29,427 1,704 27,723
1990 27,514 1,163 26,351
1992 22,574 1,264 21,310
1994 26,470 1,319 25,151
1996 41,177 1,772 39,405
Carryforward Total taxes
Tax year of foreign available
taxes from for credit(4)
prior years
(4) (5)
1978 19,260 52,064
1980 4,211 30,109
1982 17,470 38,181
1984 5,277 27,008
1986 5,364 27,408
1988 3,933 31,656
1990 4,409 30,761
1992 7,157 28,468
1994 7,361 32,511
1996 8,680 48,085
Foreign tax credit
As a
Tax year percentage of
Amount taxes
available
for credit
(6) (7)
1978 26,358 50.6
1980 24,880 82.6
1982 18,932 49.6
1984 21,420 79.3
1986 22,261 81.2
1988 27,110 85.6
1990 24,987 81.2
1992 21,533 75.6
1994 25,419 78.2
1996 40,255 83.7
(1) For 1996, current-year foreign taxes are reported as “foreign taxes paid, accrued, and deemed paid,” in Table 1, column 43, at the end of this article.
(2) Current-year foreign taxes (column 1) minus reduction of certain current-year foreign taxes (column 2).
(3) Creditable current-year foreign taxes (column 3) plus carryforward of foreign taxes from prior years (column 4).
Industry Composition
Figure E, which shows the number of returns, foreign-source taxable income, current-year foreign taxes, and foreign tax credit claimed by selected industry group for 1996, provides a summary of foreign income and taxes by the U.S. corporation’s industrial classification. Similar to recent years, manufacturing corporations remained the most significant industrial grouping. U.S. corporations involved in manufacturing received the most foreign-source taxable income, paid out the most in current-year foreign taxes, and claimed the greatest amount of foreign tax credit. U.S. manufacturers reported 66 percent of the total $151 billion in foreign source taxable income and over 71 percent of the total $41 billion in current-year foreign taxes. This allowed them to account for nearly 73 percent of the total foreign tax credit claimed. U.S. corporations classified in the petroleum (including integrated) and coal products continued to be the most significant specific industry, with nearly 19 percent of the total foreign tax credit claimed.
Figure E
Foreign-Source Taxable Income, Current-Year Foreign Taxes, and Foreign Tax Credit, by Selected Industrial Group, Tax Year 1996, and Selected Industry Shares of Total Foreign Tax Credit Claimed, Selected Tax Years
[Money amounts are in millions of dollars]
1996
Foreign-
source
taxable-
Selected industrial group Number of income
returns (less loss
(1) (2)
All Industries 6,100 150,826
Agriculture, forestry, and fishing 187 294
Mining 123 3,076
Construction 155 606
Manufacturing 1,742 99,657
Food and kindred products 95 7,132
Petroleum (including
integrated) and coal products 27 22,500
Electrical and electronic
equipment 318 9,930
Motor vehicles and equipment 37 8,517
Transportation and public
utilities 157 3,967
Wholesale and retail trade 995 5,023
Finance, insurance, and
real estate 1,649 30,291
Banking 84 13,294
Insurance 255 8,956
Services 1,091 7,912
1996
Current-
year Foreign
Selected industrial group foreign tax
taxes credit
(3) (4)
All Industries 41,177 40,255
Agriculture, forestry, and fishing 93 81
Mining 1,374 931
Construction 200 196
Manufacturing 29,422 29,191
Food and kindred products 2,241 2,301
Petroleum (including
integrated) and coal products 8,516 7,636
Electrical and electronic
equipment 2,278 2,236
Motor vehicles and equipment 2,300 2,281
Transportation and public
utilities 441 432
Wholesale and retail trade 1,383 1,288
Finance, insurance, and
real estate 6,363 6,253
Banking 2,750 2,687
Insurance 1,457 1,444
Services 1.902 1,883
Industry’s share of
foreign tax credit(1)
Selected industrial group 1996 1990(2)
(5) (6)
All Industries 100.0 100.0
Agriculture, forestry, and fishing 0.2 0.1
Mining 2.3 3.2
Construction 0.5 0.4
Manufacturing 72.5 83.1
Food and kindred products 5.7 3.7
Petroleum (including
integrated) and coal products 19.0 21.5
Electrical and electronic
equipment 5.6 4.8
Motor vehicles and equipment 5.7 6.9
Transportation and public
utilities 1.1 0.6
Wholesale and retail trade 3.2 3.7
Finance, insurance, and
real estate 15.5 6.6
Banking 6.7 2.1
Insurance 3.6 2.5
Services 4.7 2.4
Industry’s
share of
foreign tax
credit(1)
Selected industrial group 1978(3)
(7)
All Industries 100.0
Agriculture, forestry, and fishing 0.0
Mining 47.5
Construction 0.4
Manufacturing 44.2
Food and kindred products 2.0
Petroleum (including
integrated) and coal products 17.7
Electrical and electronic
equipment 2.8
Motor vehicles and equipment 3.9
Transportation and public
utilities 0.8
Wholesale and retail trade 2.3
Finance, insurance, and
real estate 4.2
Banking 2.9
Insurance 0.8
Services 0.5
(1) Equals each industry’s foreign tax credit divided by the total foreign tax credit claimed for all industries.
(2) Actual foreign tax credit amounts for 1990 are not included in this figure.
(3) Actual foreign tax credit amounts for 1978 are not included in this figure.
Figure E also shows that the finance, insurance, and real estate (FIRE) corporations are second behind those in manufacturing, with 20 percent of the foreign-source taxable income and nearly 15 percent of the total current-year taxes. Figure E also shows each industrial grouping’s foreign tax credit as a percentage of the total foreign tax credit claimed for 1996, 1990, and 1978. Tax Year 1990 was included to provide a recent comparison, while 1978 was included as to demonstrate how much the foreign tax credit has changed in almost 20 years.
Several trends emerge when examining each industry’s share of foreign tax credit historically. First, the manufacturing corporations may still produce most of the foreign tax credit, but corporations involved in finance, insurance, and real estate are quickly becoming more significant. Finance, insurance, and real estate corporations’ share of the foreign tax credit has grown from only 4 percent for 1978 to nearly 16 percent for 1996. In actuality, most of the increase happened between 1990 and 1996, as the industry’s share of the total foreign tax credit claimed more than doubled in these 6 years.
Using the foreign tax credit as a measurement also understates the growing importance of finance, insurance, and real estate corporations since income in those industries is usually taxed at a much lower rate than manufacturing income and, thus, would generate lower amounts of creditable foreign taxes. The growth in foreign-source taxable income has been even more impressive. While total foreign-source taxable income increased by 25 percent from 1995 to 1996, foreign-source taxable income for manufacturing corporations increased only 21 percent. Corporations involved in finance, insurance, and real estate, however, reported 35 percent more foreign-source income in 1996 than in 1995.
A more distinct change in the historical foreign tax credit shares shown in Figure E is that mining corporations, which accounted for almost half of the foreign tax in 1978, dropped to only 2 percent of the credit for 1996. Changes in the oil and gas extraction industry account for nearly all of this reduction in importance. U.S. corporations engaged in foreign oil and gas extraction faced dramatically different tax and political conditions in the mid 1990′ s than during the late 1970′ s. Corporations were less likely in 1996 to receive oil and gas extraction income from members of the Organization of Petroleum Exporting Countries (OPEC) due to the discovery of oil in the North Sea, and corporations generally paid lower foreign taxes on their oil and gas extraction income for 1996 than in the late 1970′ s. Another reason behind the drastic drop in mining’ s importance is that oil and gas extraction income is now more likely to be reported by manufacturing corporations, specifically those producing petroleum (including integrated) and coal products. This will be discussed below.
Oil and Gas Extraction Income
Oil and gas extraction income, deductions, and taxes are reported separately by U.S. corporations claiming a foreign tax credit related to that income [8]. Under Internal Revenue Code section 907, separate rules related to oil and gas extraction income affect the amount of foreign taxes available for corporations to credit. The provisions of Internal Revenue Code section 907 disallow certain foreign taxes and provide another limitation calculation specifically for foreign oil and gas extraction income (FOGEI). Foreign taxes are excluded from the foreign tax credit calculation if they were paid, accrued, or deemed paid at a rate in excess of the applicable U.S. tax rate. Taxes can also be excluded because they were not, in effect, income taxes, but rather royalty payments. Under the foreign tax credit provisions, only income taxes, as viewed through U.S. tax principles, are creditable. This excludes voluntary payments and payments for specific rights or services (such as the right to extract a natural resource).
Figure F shows gross income from foreign oil and gas extraction by both selected industry groups and selected countries for 1996. As mentioned above, most FOGEI is now reported by U.S. corporations classified as manufacturers of petroleum (including integrated) and coal products. For 1996, the oil and gas extraction industry accounted for less than 9 percent of the total oil and gas extraction related gross income reported. Figure F also lists the countries generating the greatest amounts of gross income associated with foreign oil and gas extraction for 1996. As for both 1994 and 1995, corporations reported the most gross income from the United Kingdom and Indonesia. Seven countries (the United Kingdom, Indonesia, Canada, the Netherlands, Australia, Norway, and Nigeria) together accounted for 66 percent of all gross income from foreign oil and gas extraction activities.
Figure F
U.S. Corporation Returns with a Foreign Tax Credit: Foreign Oil and Gas Extraction Gross Income by Selected Industrial Group and Selected Country, Tax Year 1996
[Money amounts are in millions of dollars]
Gross
Selected industrial group, country income (less Percent of
loss) total
Selected industrial group:
All Industries 22,074 100.0
Petroleum (including integrated) and
coal products manufacturing 18,006 81.6
Oil and gas extraction 1,883 8.5
Industrial plastics and synthetic
materials manufacturing (*)1.456 (*)6.6
All other industries 729 3.3
Selected country:
All countries 22,074 100.0
United Kingdom 3,749 17.0
Indonesia 2,128 96.0
Canada 2,018 9.1
Netherlands 1,828 83.0
Australia (*)1,749 (*)7.9
Norway (*)1,603 (*)7.3
Nigeria (*)1,526 (*)6.9
Malaysia (*)767 (*)3.5
Colombia (*)651 (*)2.9
Chile (*)576 (*)2.6
Saudi Arabia (*)560 (*)2.5
Thailand (*)507 (*)2.3
All other countries 12,351 56.0
Geographic Focus
As in past years, a considerable portion of the foreign-source income came from a small number of countries. Figure G shows the most significant countries’ shares of total foreign-source taxable income for 1996. The United Kingdom, Canada, Japan, Germany, and the Netherlands accounted for 44 percent of the foreign-source taxable income reported for U.S. corporations with foreign tax credits for 1996. The importance of these five countries is not surprising since their share totaled 43 percent for 1995, approximately 38 percent for 1994, and 41 percent for 1993. With three members among the top five in generating foreign-source taxable income, Europe, and more specifically the European Economic Community, was the most significant geographic region. Figure H shows foreign-source taxable income, current-year foreign taxes paid or accrued, and current-year tax deemed paid for selected geographic regions and Canada. U.S. corporations are extremely active within European Economic Community countries since the 12 members of that organization accounted for almost twice as much foreign-source taxable income as the next largest region, Asia.
[Figures G-H ILLUSTRATION OMITTED]
Regional differences in taxes are clearer when examining the two components of current-year foreign taxes, current-year foreign taxes paid or accrued, and current-year tax deemed paid. U.S. corporations reported 37 percent of their current-year foreign taxes paid or accrued and deemed paid going to European Economic Community members for 1996. Nearly 80 percent, or $12 billion, of the $15 billion collected by European Economic Community members was tax deemed paid. This represents a 45-percent share of total tax deemed paid by all U.S. corporations claiming a foreign tax credit for 1996. Asian countries, despite collecting less in combined taxes, received more current-year foreign taxes paid or accrued than European Economic Community members–collecting 33 percent of the total versus only 21 percent of the total being paid to European Economic Community members. Asian countries also generated over 20 percent of the current-year tax deemed paid.
Figure I shows foreign gross income, both in total and by selected types for the major geographic regions discussed in this article. The distribution of income types follows the distribution of taxes deemed paid. Corporations received over 41 percent of their dividend income from the European Economic Community, but only 15 percent from Asian countries. Corporations continue to receive the greatest amount of dividend income from European Economic Community members, while income from the next largest region, Asia, is more likely to be of another type. For example, corporations reported only 21 percent (or $29 billion of $140 billion) in combined gross service and other income from members of the European Economic Community versus 27 percent from Asian countries.
Figure I
U.S. Corporation Returns with a Foreign Tax Credit: Foreign-Source Gross Income, by Type and Selected Regions, Tax Year 1996
[Money amounts are in millions of dollars]
Gross income
(less loss)
Selected regions and countries Total Dividends
(1) (2)
All countries 331,079 62,622
Canada 26,879 6,142
Latin America 35,629 5,826
Other Western Hemisphere 5,193 2,106
Europe, total 126,491 31,158
European Economic Community,
total 106,005 26,028
Other Europe 20,486 5,130
Africa 5,679 1,048
Asia 74,982 9,357
Oceania 11,234 2,352
All other countries 44,992 4,632
Gross income
(less loss)
Foreign dividend
income resulting
Selected regions and countries from foreign Interest
taxes deemed
paid (gross-up)
(3) (4)
All countries 26,715 56,197
Canada 3,721 3,705
Latin America 1,737 10,192
Other Western Hemisphere 178 1,909
Europe, total 14,040 21,796
European Economic Community,
total 12,134 19,942
Other Europe 1,906 1,854
Africa 497 296
Asia 5,343 9,113
Oceania 1,018 1,188
All other countries 181 7,998
Gross income
(less loss)
Selected regions and countries Rents, royalties, Service income
and license fees
(5) (6)
All countries 45,127 28,837
Canada 3,042 1,084
Latin America 3,135 1,837
Other Western Hemisphere 47 74
Europe, total 21,153 6,300
European Economic Community,
total 18,536 4,195
Other Europe 2,617 2,105
Africa 328 804
Asia 13,329 12,350
Oceania 1,201 407
All other countries 2,892 5,681
Gross income
(less loss)
Selected regions and countries Other income
(7)
All countries 111,880
Canada 9,185
Latin America 12,902
Other Western Hemisphere 878
Europe, total 32,044
European Economic Community,
total 25,170
Other Europe 6,874
Africa 2,706
Asia 25,490
Oceania 5,067
All other countries 23,609
Summary
Worldwide taxable income, foreign-source taxable income, and current-year foreign taxes paid, accrued, or deemed paid all continued their recent upward trends for 1996. This allowed U.S. corporations to claim a record high foreign tax credit of $40.3 billion for 1996 as income and taxes increased across the board. Reductions in creditable taxes and the inclusion of prior-year taxes continue to play stable and minor roles in determining the amount of foreign tax credit claimed. As in prior years, the United Kingdom, Canada, and Japan continued to generate the most foreign-source taxable income. One recent change, though, has been in the industries of the corporations earning foreign-source income and claiming foreign tax credits. Finance, insurance, and real estate corporations have been rapidly increasing their share of foreign income and foreign tax credit since 1990. U.S. corporations with foreign tax credits can no longer be characterized as being manufacturers involved in foreign oil and gas extraction or in the foreign production of goods. Banking and services are gradually becoming more significant abroad and claiming an increasing amount of the foreign tax credit.
Data Sources and Limitations
The statistics in this article were derived from corporation income tax returns with a foreign tax credit that were included in the 1996 Statistics of Income sample. To be included in the sample, returns had to have accounting periods ending between July 1996 and June 1997. The 1996 corporation income tax return sample included 94,172 returns chosen from the 4,968,336 returns filed for Tax Year 1996. These returns were selected after administrative processing, but before any audit examination. Because some of the returns with a foreign tax credit that were sampled at the 100-percent rate were received too late to be included in the regular corporate statistics (although estimates for these returns were included), there are slight differences between the more complete statistics on the foreign tax credit presented in this article and those published in Statistics of Income–1996, Corporation Income Tax Returns [9].
The foreign tax credit is claimed under section 901 of the Internal Revenue Code. Corporations report the foreign income and taxes related to the credit on Form 1118, Computation of Foreign Tax Credit–Corporations, filed with their corporate income tax returns. The statistics in this article are based on information reported on Forms 1118 and related corporate returns. Corporations with “alternative minimum tax” (AMT) had to compute a separate “alternative minimum tax foreign tax credit.” Data on this computation are not reflected in the statistics presented in this article, even if the corporation reported both the regular and AMT computations, and even if the corporation reported only the AMT computation (because it had AMT but no regular tax). Some corporations reported preliminary data on their tax returns because complete information on their overseas operations was not available on their returns as originally filed, and amended returns were not used for these statistics. However, when necessary, additional information was obtained directly from the taxpayer.
Foreign income and taxes are understated in this article to the extent that they either were not or did not have to be reported on Form 1118. Some corporations did not file this form because they had no U.S. income tax to report and consequently were unable to claim the foreign tax credit for 1996 (any “unused credits” could, however, be carried forward or back for use in other years). Others may have chosen to deduct their foreign taxes from their gross incomes instead of taking the credit.
Because the estimates are based on a sample, they are subject to sampling error. Coefficients of variation (CV’s) are used to measure the magnitude of this sampling error. The CV is defined in the section sampling variability in the “SOI Sampling Methodology and Data Limitations” appendix of this publication. Figure J presents CV’s for foreign tax credits by selected industrial groups. The smaller the CV, the more reliable the estimate is judged to be.
Figure J
Coefficients of Variation for Foreign Tax Credit, by Selected Industrial Group, Tax Year 1996
Coefficients of
variation for
foreign
Selected industrial group tax credit
(percentages)
0.04
All Industries
Agriculture, forestry, and fishing 0.21
Mining 0.72
Construction 1.31
Manufacturing 0.03
Food and kindred products 0.19
Petroleum (including integrated) and
coal products 0.04
Electrical and electronic equipment 0.07
Motor vehicles and equipment 0.01
Transportation and public utilities 0.84
Wholesale and retail trade 0.35
Finance, insurance, and real estate 0.10
Banking (1)
Insurance 0.05
Services 0.28
(1) Less than .005 percent.
Tables 1-3
Table 1, columns 2 through 15, presents statistics on assets, receipts, income, and taxes reported on Form 1120, Corporation Income Tax Return, for those corporations claiming a foreign tax credit. Columns 16 through 52 present statistics from Form 1118, Foreign Tax Credit–Corporations. Schedule references indicate the parts of Form 1118 from which the data were obtained. Columns 16 through 36 present statistics on foreign income (i.e., income from sources outside the United States) and deductions, reported primarily on Form 1118, Schedule A, Income of Loss Before Adjustments.
Table 1. U.S. Corporation Returns with a Foreign Tax Credit: Total Assets, Income, Tax, and Credits, and Foreign Income and Tax Reported on Form 1118, by Selected Industrial Group
[All figures are estimates based on samples–money amounts are in thousands of dollar]
Major and selected minor Number of Total
industrial group returns assets
(1) (2)
All industries 6,100 12,076,910,437
Agriculture, forestry, and
fishing 187 3,986,354
Mining 123 70,135,566
Metal mining 11 (*)10,498,866
Coal mining (*)27,651,046
Oil and gas extraction 96 27,528,239
Nonmetallic minerals, except
fuels 10 (*)4,457,415
Construction 155 20,203,417
General building contractors 54 5,064,097
Heavy construction
contractors 36 13,875,663
Special trade contractors 65 1,243,657
Manufacturing 1,742 3,390,528,534
Food and kindred products 95 172,795,718
Tobacco manufactures 5 (*)86,223,180
Textile mill products 64 6,044,459
Apparel and other textile
products 24 18,378,580
Lumber and wood products 16 27,360,413
Furniture and fixtures 14 8,844,019
Paper and allied products 43 97,879,553
Printing and publishing 107 126,594,986
Industrial plastics and
synthetic materials 105 256,043,217
Drugs 34 212,484,392
Other chemicals 83 79,003,625
Petroleum (including
integrated) and coal
products 27 593,011,372
Rubber and miscellaneous
plastics products 65 20,653,091
Leather and leather products 7 (*)1,678,485
Stone, clay, and glass
products 38 32,297,813
Primary metal industries 44 50,950,447
Fabricated metal products 169 49,867,632
Office, computing, and
accounting machinery 23 80,849,854
Other machinery, except
electrical 207 94,884,940
Electrical and electronic
equipment 318 500,798,004
Motor vehicles and equipment 35 621,747,361
Transportation equipment,
except motor vehicles 36 109,582,357
Instruments and related
products 101 116,407,416
Miscellaneous manufacturing
and manufacturing not
allocable 81 26,147,619
Transportation and public
utilities 157 616,935,410
Transportation 84 113,305,024
Water transportation 36 7,352,998
All other transportation 48 105,952,026
Communication 23 265,108,347
Electric, gas, and sanitary
services 50 138,522,040
Wholesale and retail trade 995 544,888,538
Wholesale trade 755 353,648,903
Groceries and related
products 6 (*)8,389,506
Machinery, equipment, and
supplies 75 6,478,619
Miscellaneous wholesale
trade 674 338,780,778
Drugs, chemicals, and
allied products 24 5,830,595
Petroleum and
petroleum products 4 (*)192,706,990
Other miscellaneous
wholesale trade 646 140,243,193
Retail trade 240 191,239,636
Building materials,
garden supplies, and
mobile home dealers 5 (*)9,440,833
General merchandise
stores 6 (*)85,106,831
Food stores 8 (*)5,404,148
Automotive dealers and
service stations 6 (*)1,194,626
Apparel and accessory
stores 17 23,205,635
Furniture and home
furnishing stores 4 (*)1,017,407
Eating and drinking
places 22 33,291,816
All other retail stores 173 32,578,340
Finance, Insurance, and real
estate 1,649 7,272,074,766
Banking 84 3,031,085,997
Credit agencies other than
banks 31 493,018,726
Security, commodity brokers,
and services 107 1,003,884,817
Insurance 255 2,642,147,262
Insurance agents, brokers,
and service 18 23,731,678
Real estate 431 7,115,207
Holding and other investment
companies, except bank
holding companies 723 31,091,079
Services 1,091 258,157,853
Hotels and other lodging
places 29 28,507,814
Personal services 17 10,415,480
Business services 278 126,829,219
Auto repair; miscellaneous
repair services 10 (*)3,359,145
Amusement and recreation
services 60 59,945,157
All other services 697 29,101,037
Dividends
received
Major and selected minor Total from
industrial group receipts foreign
corporations
(3) (4)
All industries 4,886,362,144 34,745,162
Agriculture, forestry, and
fishing 3,938,403 (*)85,125
Mining 29,589,446 249,026
Metal mining 4,843,868 (*)83,923
Coal mining (*)5,399,637 (*)6,696
Oil and gas extraction 15,622,804 150,948
Nonmetallic minerals, except
fuels (*)3,723,137 (*)7,459
Construction 26,264,101 181,874
General building contractors 14,320,783 (*)31,677
Heavy construction
contractors 9,671,301 (*)138,834
Special trade contractors 2,272,017 (*)11,363
Manufacturing 2,565,324,302 28,316,193
Food and kindred products 163,162,663 3,227,584
Tobacco manufactures (*)54,927,343 (*)1,048,899
Textile mill products 8,122,268 (*)23,449
Apparel and other textile
products 17,672,251 (*)239,257
Lumber and wood products 16,437,408 (*)9,713
Furniture and fixtures 8,628,921 (*)44,789
Paper and allied products 65,516,508 1,154,857
Printing and publishing 69,822,749 315,633
Industrial plastics and
synthetic materials 153,496,243 1,622,522
Drugs 129,795,591 2,425,934
Other chemicals 95,661,077 1,124,068
Petroleum (including
integrated) and coal
products 468,196,628 6,910,149
Rubber and miscellaneous
plastics products 25,280,451 216,849
Leather and leather products (*)2,339,128 (*)1,280
Stone, clay, and glass
products 27,343,867 380,814
Primary metal industries 50,005,736 711,585
Fabricated metal products 49,616,281 495,897
Office, computing, and
accounting machinery 97,741,909 2,471,278
Other machinery, except
electrical 91,969,833 509,875
Electrical and electronic
equipment 307,454,411 1,918,092
Motor vehicles and equipment 411,073,820 1,712,943
Transportation equipment,
except motor vehicles 119,362,290 374,555
Instruments and related
products 105,583,245 1,180,578
Miscellaneous manufacturing
and manufacturing not
allocable 26,113,682 195,594
Transportation and public
utilities 321,987,121 175,581
Transportation 102,670,810 64,053
Water transportation 6,877,286 (*)3,613
All other transportation 95,793,524 60,441
Communication 160,627,629 48,909
Electric, gas, and sanitary
services 58,688,682 62,619
Wholesale and retail trade 613,420,729 947,275
Wholesale trade 293,484,783 422,771
Groceries and related
products (*)22,165,737 (*)1,494
Machinery, equipment, and
supplies 8,775,212 22,811
Miscellaneous wholesale
trade 262,543,835 398,466
Drugs, chemicals, and
allied products 21,155,870 (*)18,358
Petroleum and
petroleum products (*)25,719,614 (*)81,427
Other miscellaneous
wholesale trade 215,668,350 298,682
Retail trade 319,935,946 524,504
Building materials,
garden supplies, and
mobile home dealers (*)19,536,124 (*)11
General merchandise
stores (*)180,348,892 (*)7,742
Food stores (*)10,863,479 (*)15
Automotive dealers and
service stations (*)1,677,539 (*)175
Apparel and accessory
stores 33,978,115 (*)33,321
Furniture and home
furnishing stores (*)1,964,593 —
Eating and drinking
places 26,170,428 (*)413,663
All other retail stores 45,396,777 (*)69,577
Finance, Insurance, and real
estate 1,131,576,397 3,454,705
Banking 261,352,367 408,325
Credit agencies other than
banks 70,397,162 81,569
Security, commodity brokers,
and services 88,174,475 1,225,609
Insurance 692,490,983 617,708
Insurance agents, brokers,
and service 8,820,142 (*)170,369
Real estate 2,869,978 15,172
Holding and other investment
companies, except bank
holding companies 7,471,290 935,954
Services 194,261,646 1,335,383
Hotels and other lodging
places 30,725,094 (*)72,232
Personal services 8,447,046 (*)46,982
Business services 87,107,914 893,056
Auto repair; miscellaneous
repair services (*)2,965,374 (*)1,471
Amusement and recreation
services 31,173,207 (*)71,935
All other services 33,843,011 249,708
Includable
Dividends income of
Major and selected minor received from Controlled
industrial group (IC-DISC’s Foreign
former Corporations
DISC’s(1)
(5) (6)
All industries 15,758 25,203,555
Agriculture, forestry, and
fishing — (*)28,188
Mining — 118,426
Metal mining — (*)10,501
Coal mining — (*)7,655
Oil and gas extraction — 100,269
Nonmetallic minerals, except
fuels — —
Construction (*)380 (*)92,195
General building contractors — (*)24,520
Heavy construction
contractors — (*)67,674
Special trade contractors (*)380 —
Manufacturing 9,636 16,174,662
Food and kindred products (*)460 1,072,940
Tobacco manufactures — (*)1,250,457
Textile mill products — (*)17,602
Apparel and other textile
products — (*)22,733
Lumber and wood products — (*)10,339
Furniture and fixtures — (*)9,305
Paper and allied products — 217,992
Printing and publishing (*)20 161,746
Industrial plastics and
synthetic materials (*)834 1,202,556
Drugs (*)1,150 2,848,811
Other chemicals — 462,444
Petroleum (including
integrated) and coal
products — 1,698,616
Rubber and miscellaneous
plastics products (*)8 37,027
Leather and leather products — —
Stone, clay, and glass
products — (*)73,287
Primary metal industries (*)3,597 (*)123,284
Fabricated metal products (*)1,246 202,538
Office, computing, and
accounting machinery — 740,811
Other machinery, except
electrical (*)427 481,100
Electrical and electronic
equipment (*)716 1,786,024
Motor vehicles and equipment — 2,120,176
Transportation equipment,
except motor vehicles — 390,966
Instruments and related
products — 951,315
Miscellaneous manufacturing
and manufacturing not
allocable (*)1,178 292,593
Transportation and public
utilities — 609,667
Transportation — 138,172
Water transportation — (*)38,326
All other transportation — 99,846
Communication — (*)350,495
Electric, gas, and sanitary
services — 121,000
Wholesale and retail trade (*)5,243 888,781
Wholesale trade (*)5,243 587,625
Groceries and related
products — —
Machinery, equipment, and
supplies — (*)2,672
Miscellaneous wholesale
trade (*)5,243 584,953
Drugs, chemicals, and
allied products (*)61 (*)2,918
Petroleum and
petroleum products — (*)121,390
Other miscellaneous
wholesale trade (*)5,183 460,645
Retail trade — 301,157
Building materials,
garden supplies, and
mobile home dealers — (*)594
General merchandise
stores — (*)193,309
Food stores — —
Automotive dealers and
service stations — —
Apparel and accessory
stores — (*)61,631
Furniture and home
furnishing stores — —
Eating and drinking
places — (*)15,879
All other retail stores — (*)29,743
Finance, Insurance, and real
estate — 6,601,802
Banking — 2,977,379
Credit agencies other than
banks — (*)401,087
Security, commodity brokers,
and services — 938,112
Insurance — 1,711,892
Insurance agents, brokers,
and service — (*)125,550
Real estate — (*)11,207
Holding and other investment
companies, except bank
holding companies — 436,574
Services (*)499 689,833
Hotels and other lodging
places — (*)74,067
Personal services — (*)28,011
Business services (*)499 480,761
Auto repair; miscellaneous
repair services — —
Amusement and recreation
services — (*)45,997
All other services — 60,997
Foreign
dividend
income
Major and selected minor resulting from Net income
industrial group foreign taxes (less
deemed paid deficit)
(gross-up)
(7) (8)
All industries 26,764,932 391,100,714
Agriculture, forestry, and
fishing (*)80,081 680,212
Mining 130,460 4,452,394
Metal mining (*)30,662 635,813
Coal mining (*)1,251 (*)842,400
Oil and gas extraction 95,641 2,613,100
Nonmetallic minerals, except
fuels (*)2,905 (*)361,080
Construction 127,775 1,348,237
General building contractors (*)20,013 375,116
Heavy construction
contractors (*)99,547 873,049
Special trade contractors (*)8,214 100,072
Manufacturing 20,783,489 213,337,655
Food and kindred products 1,745,691 12,781,203
Tobacco manufactures (*)1,014,499 (*)9,857,629
Textile mill products 14,855 490,210
Apparel and other textile
products (*)140,998 1,759,199
Lumber and wood products (*)8,187 544,941
Furniture and fixtures (*)23,757 793,308
Paper and allied products 837,452 5,787,527
Printing and publishing 276,047 8,679,501
Industrial plastics and
synthetic materials 1,242,996 13,675,117
Drugs 2,324,771 15,854,094
Other chemicals 735,021 8,238,233
Petroleum (including
integrated) and coal
products 4,159,021 38,278,292
Rubber and miscellaneous
plastics products 127,026 1,645,341
Leather and leather products (*)777 (*)112,636
Stone, clay, and glass
products 236,348 2,495,451
Primary metal industries 455,481 3,679,476
Fabricated metal products 406,413 5,318,245
Office, computing, and
accounting machinery 1,392,216 12,413,193
Other machinery, except
electrical 434,820 8,024,338
Electrical and electronic
equipment 1,705,414 27,451,645
Motor vehicles and equipment 1,916,843 14,972,829
Transportation equipment,
except motor vehicles 291,064 8,202,868
Instruments and related
products 1,106,230 9,853,010
Miscellaneous manufacturing
and manufacturing not
allocable 187,562 2,419,369
Transportation and public
utilities 230,766 26,305,805
Transportation 69,428 5,802,727
Water transportation (*)10,285 334,182
All other transportation 59,143 5,468,545
Communication (*)101,808 14,353,078
Electric, gas, and sanitary
services 59,520 6,150,000
Wholesale and retail trade 936,163 25,699,680
Wholesale trade 390,499 9,938,571
Groceries and related
products (*)756 (*)213,347
Machinery, equipment, and
supplies 10,270 542,975
Miscellaneous wholesale
trade 379,473 9,182,249
Drugs, chemicals, and
allied products (*)6,315 403,038
Petroleum and
petroleum products (*)95,080 (*)1,753,415
Other miscellaneous
wholesale trade 278,079 7,025,796
Retail trade 545,664 15,761,110
Building materials,
garden supplies, and
mobile home dealers — (*)1,330,791
General merchandise
stores (*)142,461 (*)7,117,877
Food stores — (*)320,687
Automotive dealers and
service stations — (*)107,440
Apparel and accessory
stores (*)7,710 2,189,769
Furniture and home
furnishing stores — (*)124,485
Eating and drinking
places (*)365,760 2,884,827
All other retail stores (*)29,733 1,685,234
Finance, Insurance, and real
estate 3,297,452 101,154,734
Banking 1,088,781 32,804,938
Credit agencies other than
banks (*)116,604 4,636,799
Security, commodity brokers,
and services 806,004 10,795,967
Insurance 594,978 45,507,616
Insurance agents, brokers,
and service (*)102,806 1,821,769
Real estate (*)11,077 731,889
Holding and other investment
companies, except bank
holding companies 577,201 4,855,756
Services 1,178,758 18,121,998
Hotels and other lodging
places (*)35,610 1,151,399
Personal services (*)24,913 599,706
Business services 924,229 11,733,776
Auto repair; miscellaneous
repair services (*)467 (*)-94,387
Amusement and recreation
services (*)66,704 2,680,302
All other services 126,834 2,051,200
U.S. income
tax before
Income credits
Major and selected minor subject to
industrial group U.S. tax Total
(9) (10)
All industries 370,048,864 (*)130,747,810
Agriculture, forestry, and
fishing 657,508 229,396
Mining 4,030,146 1,460,819
Metal mining 625,353 233,303
Coal mining (*)835,759 (*)293,501
Oil and gas extraction 2,211,304 808,541
Nonmetallic minerals, except
fuels (*)357,730 (*)125,374
Construction 1,313,314 459,288
General building contractors 358,907 125,474
Heavy construction
contractors 859,130 301,124
Special trade contractors 95,278 32,689
Manufacturing 202,000,257 71,731,545
Food and kindred products 12,335,675 4,333,766
Tobacco manufactures (*)9,534,374 (*)3,337,002
Textile mill products 472,390 165,215
Apparel and other textile
products 1,723,029 603,294
Lumber and wood products 530,077 185,554
Furniture and fixtures 747,678 263,816
Paper and allied products 5,582,499 1,958,508
Printing and publishing 8,458,708 2,972,013
Industrial plastics and
synthetic materials 12,599,511 4,417,020
Drugs 15,228,524 5,455,593
Other chemicals 8,042,197 2,816,723
Petroleum (including
integrated) and coal
products 36,262,320 12,744,434
Rubber and miscellaneous
plastics products 1,600,693 561,201
Leather and leather products (*)104,040 (*)36,247
Stone, clay, and glass
products 2,069,929 730,327
Primary metal industries 3,471,108 1,235,649
Fabricated metal products 5,048,132 1,770,115
Office, computing, and
accounting machinery 11,950,084 4,305,029
Other machinery, except
electrical 7,406,584 2,599,847
Electrical and electronic
equipment 25,421,814 9,101,229
Motor vehicles and equipment 14,300,965 5,438,789
Transportation equipment,
except motor vehicles 7,749,657 2,716,720
Instruments and related
products 9,104,554 3,190,088
Miscellaneous manufacturing
and manufacturing not
allocable 2,255,715 793,366
Transportation and public
utilities 25,338,485 8,861,465
Transportation 5,559,153 1,954,084
Water transportation 325,603 115,111
All other transportation 5,233,549 1,838,973
Communication 13,768,631 4,798,599
Electric, gas, and sanitary
services 6,010,702 2,108,781
Wholesale and retail trade 25,132,802 8,845,678
Wholesale trade 9,548,901 3,381,551
Groceries and related
products (*)212,980 (*)74,535
Machinery, equipment, and
supplies 512,441 176,942
Miscellaneous wholesale
trade 8,823,480 3,130,073
Drugs, chemicals, and
allied products 381,158 133,584
Petroleum and
petroleum products (*)1,740,730 (*)609,168
Other miscellaneous
wholesale trade 6,701,592 2,387,321
Retail trade 15,583,901 5,464,127
Building materials,
garden supplies, and
mobile home dealers (*)1,327,329 (*)464,453
General merchandise
stores (*)7,086,351 (*)2,480,470
Food stores (*)316,855 (*)113,530
Automotive dealers and
service stations (*)82,290 (*)28,581
Apparel and accessory
stores 2,187,733 771,119
Furniture and home
furnishing stores (*)124,212 (*)43,361
Eating and drinking
places 2,859,381 1,003,765
All other retail stores 1,599,750 558,847
Finance, Insurance, and real
estate 94,341,374 33,114,402
Banking 31,611,628 11,045,447
Credit agencies other than
banks 4,367,765 1,532,888
Security, commodity brokers,
and services 10,470,119 3,678,087
Insurance 40,769,052 14,362,977
Insurance agents, brokers,
and service 1,781,142 623,262
Real estate 654,265 229,252
Holding and other investment
companies, except bank
holding companies 4,687,403 1,642,488
Services 17,234,978 6,045,217
Hotels and other lodging
places 1,112,658 392,824
Personal services 578,655 203,300
Business services 11,019,889 3,864,445
Auto repair; miscellaneous
repair services (*)69,377 (*)23,755
Amusement and recreation
services 2,504,881 878,534
All other services 1,949,518 682,358
U.S. income
tax before
credits
Major and selected minor Regular and Foreign tax
industrial group alternative credit
minimum claimed
tax
(11) (12)
All industries 130,712,014 40,254,937
Agriculture, forestry, and
fishing 228,845 80,739
Mining 1,460,456 931,324
Metal mining 233,303 162,363
Coal mining (*)293,501 (*)203,260
Oil and gas extraction 808,287 561,119
Nonmetallic minerals, except
fuels (*)125,366 (*)4,581
Construction 488,300 195,720
General building contractors 124,967 34,166
Heavy construction
contractors 300,644 152,389
Special trade contractors 32,689 9,166
Manufacturing 71,705,894 29,191,184
Food and kindred products 4,330,221 2,301,065
Tobacco manufactures (*)3,337,002 (*)1,188,810
Textile mill products 165,183 15,651
Apparel and other textile
products 602,469 170,776
Lumber and wood products 185,517 12,488
Furniture and fixtures 263,466 27,145
Paper and allied products 1,957,945 896,120
Printing and publishing 2,972,513 474,861
Industrial plastics and
synthetic materials 4,415,960 1,613,839
Drugs 5,455,16 2,623,653
Other chemicals 2,815,503 1,039,959
Petroleum (including
integrated) and coal
products 12,746,443 7,635,901
Rubber and miscellaneous
plastics products 561,070 192,971
Leather and leather products (*)36,214 (*)7,465
Stone, clay, and glass
products 735,683 230,819
Primary metal industries 1,235,268 513,719
Fabricated metal products 1,769,392 467,639
Office, computing, and
accounting machinery 4,302,938 2,689,773
Other machinery, except
electrical 2,596,613 600,236
Electrical and electronic
equipment 9,086,637 2,236,093
Motor vehicles and equipment 5,445,040 2,280,989
Transportation equipment,
except motor vehicles 2,713,435 406,840
Instruments and related
products 3,183,339 (*)1,349,451
Miscellaneous manufacturing
and manufacturing not
allocable 792,884 215,122
Transportation and public
utilities 8,865,190 432,002
Transportation 1,953,964 137,977
Water transportation 115,102 22,326
All other transportation 1,838,862 115,651
Communication 4,803,938 221,553
Electric, gas, and sanitary
services 2,107,288 72,472
Wholesale and retail trade 8,846,17 1,288,131
Wholesale trade 3,384,447 569,794
Groceries and related
products (*)74,503 (*)1,854
Machinery, equipment, and
supplies 178,360 13,361
Miscellaneous wholesale
trade 3,131,585 554,578
Drugs, chemicals, and
allied products 133,579 8,031
Petroleum and
petroleum products (*)609,168 (*)152,673
Other miscellaneous
wholesale trade 2,388,837 393,874
Retail trade 5,461,723 718,338
Building materials,
garden supplies, and
mobile home dealers (*)464,453 (*)1,605
General merchandise
stores (*)2,480,470 (*)144,663
Food stores (*)113,453 (*)15,063
Automotive dealers and
service stations (*)28,558 (*)98
Apparel and accessory
stores 771,063 17,291
Furniture and home
furnishing stores (*)43,361 (*)669
Eating and drinking
places 1,002,257 483,004
All other retail stores 558,108 55,944
Finance, Insurance, and real
estate 33,107,212 6,252,805
Banking 11,039,799 2,686,639
Credit agencies other than
banks 1,532,602 245,531
Security, commodity brokers,
and services 3,677,378 1,103,588
Insurance 14,366,305 1,444,193
Insurance agents, brokers,
and service 623,074 120,741
Real estate 225,899 10,711
Holding and other investment
companies, except bank
holding companies 1,642,155 641,403
Services 6,039,946 1,883,031
Hotels and other lodging
places 392,824 73,110
Personal services 203,078 31,857
Business services 3,863,289 1,400,354
Auto repair; miscellaneous
repair services (*)23,727 (*)608
Amusement and recreation
services 876,191 201,143
All other services 680,838 175,959
Major and selected minor U.S. General
industrial group possessions business
tax credit credit
(13) (14)
All industries 210,918 2,790,072
Agriculture, forestry, and
fishing — (*)2,529
Mining — 30,499
Metal mining — —
Coal mining — (*)29
Oil and gas extraction — (*)29,190
Nonmetallic minerals, except
fuels — (*)1,280
Construction — (*)1,486
General building contractors — (*)580
Heavy construction
contractors — (*)502
Special trade contractors — (*)403
Manufacturing 206,643 1,845,522
Food and kindred products (*)2,222 149,057
Tobacco manufactures — (*)19,619
Textile mill products — (*)457
Apparel and other textile
products (*)74 (*)1,682
Lumber and wood products — (*)1,110
Furniture and fixtures — (*)1,319
Paper and allied products (*)2,109 37,515
Printing and publishing (*)306 11,947
Industrial plastics and
synthetic materials — 41,652
Drugs (*)196,344 194,954
Other chemicals (*)1,548 41,387
Petroleum (including
integrated) and coal
products — 238,307
Rubber and miscellaneous
plastics products — 6,171
Leather and leather products — (*)313
Stone, clay, and glass
products — (*)3,803
Primary metal industries — 8,380
Fabricated metal products (*)1 13,265
Office, computing, and
accounting machinery — 54,773
Other machinery, except
electrical — 72,338
Electrical and electronic
equipment (*)3,902 218,703
Motor vehicles and equipment — 578,663
Transportation equipment,
except motor vehicles — 67,496
Instruments and related
products (*)37 63,459
Miscellaneous manufacturing
and manufacturing not
allocable — 19,150
Transportation and public
utilities — 166,484
Transportation — 26,613
Water transportation — (*)581
All other transportation — 26,032
Communication — (*)93,615
Electric, gas, and sanitary
services — 46,226
Wholesale and retail trade — 69,547
Wholesale trade — 17,403
Groceries and related
products — —
Machinery, equipment, and
supplies — (*)953
Miscellaneous wholesale
trade — 16,450
Drugs, chemicals, and
allied products — (*)5,036
Petroleum and
petroleum products — (*)5,333
Other miscellaneous
wholesale trade — 6,081
Retail trade — 52,145
Building materials,
garden supplies, and
mobile home dealers — (*)199
General merchandise
stores — (*)6,909
Food stores — (*)374
Automotive dealers and
service stations — (*)14,387
Apparel and accessory
stores — (*)1,901
Furniture and home
furnishing stores — (*)320
Eating and drinking
places — 24,600
All other retail stores — (*)3,454
Finance, Insurance, and real
estate — 420,828
Banking — 173,106
Credit agencies other than
banks — (*)17,962
Security, commodity brokers,
and services — 19,004
Insurance — 162,402
Insurance agents, brokers,
and service — (*)5,961
Real estate — (*)41,217
Holding and other investment
companies, except bank
holding companies — (*)1,176
Services (*)4,375 253,207
Hotels and other lodging
places (*)4,375 (*)23,504
Personal services — (*)1,886
Business services — 206,578
Auto repair; miscellaneous
repair services — (*)1,446
Amusement and recreation
services — (*)10,414
All other services — 9,378
Foreign
income
and taxes
reported on
Form 1118
Gross
income
(less loss)
Major and selected minor U.S. income
industrial group tax after Total
credits(2)
(15) (16)
All industries 84,320,008 331,078,563
Agriculture, forestry, and
fishing 144,678 451,268
Mining 456,007 7,434,377
Metal mining (*)68,571 1,902,426
Coal mining (*)78,007 (*)1,354,832
Oil and gas extraction 193,892 4,136,348
Nonmetallic minerals, except
fuels (*)115,538 (*)40,771
Construction 269,926 2,038,420
General building contractors 90,728 393,412
Heavy construction
contractors 147,182 1,566,066
Special trade contractors 22,016 78,942
Manufacturing 38,855,700 173,377,185
Food and kindred products 1,854,638 11,095,903
Tobacco manufactures (*)2,114,182 (*)5,991,463
Textile mill products 148,915 102,815
Apparel and other textile
products 430,762 820,969
Lumber and wood products 167,727 85,945
Furniture and fixtures 235,087 128,498
Paper and allied products 913,252 3,613,692
Printing and publishing 2,477,885 4,991,339
Industrial plastics and
synthetic materials 2,519,350 11,561,330
Drugs 2,368,340 13,554,693
Other chemicals 1,675,962 6,113,785
Petroleum (including
integrated) and coal
products 4,445,814 36,083,035
Rubber and miscellaneous
plastics products 313,157 1332,871
Leather and leather products (*)27,545 (*)99,555
Stone, clay, and glass
products 477,424 1,155,276
Primary metal industries 652,895 3,718,507
Fabricated metal products 1,279,473 2,327,271
Office, computing, and
accounting machinery 1,557,822 15,152,470
Other machinery, except
electrical 1,883,016 5,878,075
Electrical and electronic
equipment 6,617,121 20,831,599
Motor vehicles and equipment 2,218,571 13,255,470
Transportation equipment,
except motor vehicles 2,158,072 3,512,954
Instruments and related
products 1,768,012 10,474,527
Miscellaneous manufacturing
and manufacturing not
allocable 550,578 1,495,143
Transportation and public
utilities 7,697,431 28,774,839
Transportation 1,502,803 13,412,145
Water transportation 83,270 1,642,750
All other transportation 1,419,533 11,769,395
Communication 4,464,760 11,834,921
Electric, gas, and sanitary
services 1,729,867 527,774
Wholesale and retail trade 7,379,718 12,603,872
Wholesale trade 2,733,336 7,858,959
Groceries and related
products (*)65,058 (*)10,821
Machinery, equipment, and
supplies 150,888 164,958
Miscellaneous wholesale
trade 2,517,390 7,683,180
Drugs, chemicals, and
allied products 118,946 123,766
Petroleum and
petroleum products (*)451,136 (*)1,700,623
Other miscellaneous
wholesale trade 1,947,308 5,858,791
Retail trade 4,646,382 4,744,913
Building materials,
garden supplies, and
mobile home dealers (*)462,531 (*)19,319
General merchandise
stores (*)2,307,541 (*)945,025
Food stores (*)98,093 (*)149,099
Automotive dealers and
service stations (*)14,095 (*)848
Apparel and accessory
stores 736,424 234,694
Furniture and home
furnishing stores (*)42,031 (*)13,397
Eating and drinking
places 489,015 2,848,776
All other retail stores 496,653 533,756
Finance, Insurance, and real
estate 25,670,676 89,842,449
Banking 8,087,657 45,034,361
Credit agencies other than
banks 1,256,694 7,303,845
Security, commodity brokers,
and services 2,512,316 12,029,484
Insurance 12,151,705 22,148,502
Insurance agents, brokers,
and service 494,188 596,101
Real estate 175,623 98,821
Holding and other investment
companies, except bank
holding companies 992,493 2,631,334
Services 3,855,872 19,556,162
Hotels and other lodging
places 287,655 852,463
Personal services 169,504 264,635
Business services 2,250,798 12,269,130
Auto repair; miscellaneous
repair services (*)20,355 (*)6,870
Amusement and recreation
services 635,220 4,280,359
All other services 492,340 1,882,694
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Foreign
dividend
income
resulting
Major and selected minor from
industrial group Dividends foreign taxes
deemed paid
(gross-up)
(17) (18)
All industries 62,621,980 26,714,995
Agriculture, forestry, and
fishing 125,187 (*)80,714
Mining 361,131 130,112
Metal mining (*)94,565 (*)30,662
Coal mining (*)13,026 (*)1,251
Oil and gas extraction 246,081 95,294
Nonmetallic minerals, except
fuels (*)7,459 (*)2,905
Construction 285,837 (*)127,756
General building contractors 67,838 (*)20,013
Heavy construction
contractors (*)206,623 (*)99,529
Special trade contractors (*)11,375 (*)8,214
Manufacturing 47,179,226 20,767,867
Food and kindred products 4,408,865 1,745,539
Tobacco manufactures (*)2,293,215 (*)1,013,905
Textile mill products 41,017 14,855
Apparel and other textile
products (*)261,787 (*)140,998
Lumber and wood products (*)17,321 (*)7,990
Furniture and fixtures (*)52,658 (*)23,757
Paper and allied products 1,373,928 837,452
Printing and publishing 479,556 275,573
Industrial plastics and
synthetic materials 3,299,490 1,237,247
Drugs 5,057,660 2,325,248
Other chemicals 1,611,815 735,021
Petroleum (including
integrated) and coal
products 8,851,261 4,159,021
Rubber and miscellaneous
plastics products 255,723 127,026
Leather and leather products (*)9,103 (*)777
Stone, clay, and glass
products 492,401 236,348
Primary metal industries 829,716 453,785
Fabricated metal products 736,223 406,000
Office, computing, and
accounting machinery 3,277,286 1,392,216
Other machinery, except
electrical 1,426,511 434,780
Electrical and electronic
equipment 4,503,620 1,698,986
Motor vehicles and equipment 3,840,167 1,916,547
Transportation equipment,
except motor vehicles 1,080,317 290,986
Instruments and related
products 2,491,719 1,106,272
Miscellaneous manufacturing
and manufacturing not
allocable 487,854 187,536
Transportation and public
utilities 911,882 230,893
Transportation 196,299 69,365
Water transportation (*)38,028 (*)10,222
All other transportation 158,271 59,142
Communication 532,598 (*)101,808
Electric, gas, and sanitary
services 182,955 59,520
Wholesale and retail trade 1,817,236 936,253
Wholesale trade 1,001,720 390,584
Groceries and related
products (*)1,494 (*)756
Machinery, equipment, and
supplies 25,207 10,269
Miscellaneous wholesale
trade 975,020 379,559
Drugs, chemicals, and
allied products (*)21,227 (*)6,315
Petroleum and
petroleum products (*)202,817 (*)95,080
Other miscellaneous
wholesale trade 750,976 278,165
Retail trade 815,515 545,668
Building materials,
garden supplies, and
mobile home dealers (*)11 —
General merchandise
stores (*)201,084 (*)142,465
Food stores (*)15 —
Automotive dealers and
service stations (*)175 —
Apparel and accessory
stores (*)85,611 (*)7,710
Furniture and home
furnishing stores — —
Eating and drinking
places (*)429,542 (*)365,760
All other retail stores (*)99,079 (*)29,733
Finance, Insurance, and real
estate 9,698,422 3,262,854
Banking 3,412,278 1,081,562
Credit agencies other than
banks 485,241 116,605
Security, commodity brokers,
and services 1,872,445 806,014
Insurance 2,246,791 567,562
Insurance agents, brokers,
and service 294,668 (*)102,806
Real estate 25,936 (*)11,077
Holding and other investment
companies, except bank
holding companies 1,361,062 577,227
Services 2,243,070 1,178,745
Hotels and other lodging
places (*)145,298 (*)35,610
Personal services (*)71,083 (*)24,913
Business services 1,456,719 924,226
Auto repair; miscellaneous
repair services (*)1,471 (*)467
Amusement and recreation
services (*)254,554 (*)66,704
All other services 313,944 126,825
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Rents,
Major and selected minor royalties,
industrial group Interest and
license fees
(19) (20)
All industries 56,197,146 45,127,226
Agriculture, forestry, and
fishing (*)20,436 (*)24,079
Mining 248,704 104,387
Metal mining (*)70,887 (*)1,163
Coal mining (*)71,755 (*)40,448
Oil and gas extraction 98,276 61,209
Nonmetallic minerals, except
fuels (*)7,785 (*)1,537
Construction 12,990 11,130
General building contractors (*)4,982 (*)418
Heavy construction
contractors (*)5,585 (*)3,374
Special trade contractors (*)2,424 (*)7,338
Manufacturing 7,852,821 30,863,256
Food and kindred products 207,699 1,244,461
Tobacco manufactures (*)84,815 (*)965,071
Textile mill products (*)4,859 (*)15,842
Apparel and other textile
products (*)14,564 319,678
Lumber and wood products (*)31,206 (*)22,311
Furniture and fixtures (*)9,743 10,952
Paper and allied products 69,904 584,068
Printing and publishing 42,073 2,511,481
Industrial plastics and
synthetic materials 457,240 1,782,943
Drugs 179,490 2,486,451
Other chemicals 107,741 1,669,390
Petroleum (including
integrated) and coal
products 3,086,868 529,024
Rubber and miscellaneous
plastics products 50,384 384,715
Leather and leather products (*)3,816 (*)44,178
Stone, clay, and glass
products 17,255 182,838
Primary metal industries 107,875 140,606
Fabricated metal products 70,828 211,226
Office, computing, and
accounting machinery 80,635 7,286,824
Other machinery, except
electrical 299,093 480,025
Electrical and electronic
equipment 2,076,693 4,090,202
Motor vehicles and equipment 483,878 2,070,871
Transportation equipment,
except motor vehicles 126,326 570,868
Instruments and related
products 220,956 2,869,539
Miscellaneous manufacturing
and manufacturing not
allocable 18,880 389,690
Transportation and public
utilities 331,882 1,452,033
Transportation 42,504 71,825
Water transportation (*)4,100 (*)6,202
All other transportation 38,404 65,624
Communication (*)219,276 (*)1,370,159
Electric, gas, and sanitary
services 70,103 (*)10,049
Wholesale and retail trade 1,662,167 1,253,371
Wholesale trade 1,353,644 363,836
Groceries and related
products (*)3,905 (*)2,079
Machinery, equipment, and
supplies 3,282 (*)15,206
Miscellaneous wholesale
trade 1,346,457 346,551
Drugs, chemicals, and
allied products (*)102 (*)2,469
Petroleum and
petroleum products (*)890,010 (*)137
Other miscellaneous
wholesale trade 456,345 343,945
Retail trade 308,524 889,535
Building materials,
garden supplies, and
mobile home dealers — (*)7,676
General merchandise
stores (*)17,044 (*)62,484
Food stores (*)2,974 (*)68,601
Automotive dealers and
service stations (*)545 (*)128
Apparel and accessory
stores (*)8,639 (*)34,714
Furniture and home
furnishing stores — (*)9,807
Eating and drinking
places (*)256,640 617,088
All other retail stores 22,683 89,037
Finance, Insurance, and real
estate 45,683,318 1,282,097
Banking 30,062,863 635,397
Credit agencies other than
banks 2,052,523 (*)166,108
Security, commodity brokers,
and services 7,010,927 (*)2,661
Insurance 6,263,852 462,855
Insurance agents, brokers,
and service (*)23,303 (*)3,223
Real estate 2,090 (*)941
Holding and other investment
companies, except bank
holding companies 267,759 (*)10,912
Services 384,829 10,136,904
Hotels and other lodging
places 71,934 (*)230,416
Personal services (*)5,501 37,018
Business services 188,448 6,352,961
Auto repair; miscellaneous
repair services (*)432 (*)2,469
Amusement and recreation
services (*)105,225 3,172,002
All other services 13,289 342,037
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Major and selected minor Service Other
industrial group income income
(21) (22)
All industries 28,536,992 111,880,244
Agriculture, forestry, and
fishing — (*)200,854
Mining 1,530,404 5,059,670
Metal mining (*)332,466 (*)1,372,683
Coal mining (*)252 (*)1,228,100
Oil and gas extraction 1,192,718 2,442,771
Nonmetallic minerals, except
fuels (*)4,968 (*)16,116
Construction 1,571,354 29,353
General building contractors (*)297,216 (*)2,945
Heavy construction
contractors (*)1,239,069 (*)11,886
Special trade contractors (*)35,069 (*)14,522
Manufacturing 3,613,995 63,100,021
Food and kindred products (*)162,143 3,327,196
Tobacco manufactures (*)26,019 (*)1,608,437
Textile mill products (*)954 (*)25,286
Apparel and other textile
products (*)7,170 (*)76,772
Lumber and wood products (*)3,506 (*)3,610
Furniture and fixtures (*)10,053 (*)21,334
Paper and allied products (*)47,596 700,743
Printing and publishing 107,993 1,574,664
Industrial plastics and
synthetic materials 147,799 4,636,611
Drugs (*)82,695 3,423,150
Other chemicals 49,582 1,940,235
Petroleum (including
integrated) and coal
products (*)893,647 18,563,213
Rubber and miscellaneous
plastics products (*)7,867 507,157
Leather and leather products (*)697 (*)40,985
Stone, clay, and glass
products (*)44,112 182,322
Primary metal industries (*)376,945 1,809,580
Fabricated metal products 41,775 861,220
Office, computing, and
accounting machinery (*)120,875 2,994,634
Other machinery, except
electrical 305,702 2,931,963
Electrical and electronic
equipment 258,656 8,203,443
Motor vehicles and equipment 477,666 4,466,341
Transportation equipment,
except motor vehicles 361,080 1,083,377
Instruments and related
products 23,729 3,762,311
Miscellaneous manufacturing
and manufacturing not
allocable 55,736 355,436
Transportation and public
utilities 8,353,511 14,494,887
Transportation 8,001,491 5,030,661
Water transportation (*)1,562,935 (*)21,263
All other transportation 6,438,556 5,009,398
Communication (*)327,622 9,283,457
Electric, gas, and sanitary
services (*)24,398 180,749
Wholesale and retail trade 293,189 6,641,657
Wholesale trade 96,045 4,653,130
Groceries and related
products (*)180 (*)2,408
Machinery, equipment, and
supplies (*)9,049 (*)101,945
Miscellaneous wholesale
trade 86,816 4,548,777
Drugs, chemicals, and
allied products (*)13,458 (*)80,194
Petroleum and
petroleum products (*)67 (*)512,513
Other miscellaneous
wholesale trade 73,291 3,956,070
Retail trade 197,144 1,988,527
Building materials,
garden supplies, and
mobile home dealers — (*)11,633
General merchandise
stores (*)177,262 (*)344,686
Food stores — (*)77,509
Automotive dealers and
service stations — —
Apparel and accessory
stores (*)809 97,212
Furniture and home
furnishing stores (*)822 (*)2,768
Eating and drinking
places (*)4,644 (*)1,175,102
All other retail stores (*)13,607 279,617
Finance, Insurance, and real
estate 9,304,527 20,611,230
Banking (*)1,678,915 8,163,346
Credit agencies other than
banks (*)237,745 (*)4,245,623
Security, commodity brokers,
and services 320,423 2,017,013
Insurance 6,666,682 5,940,760
Insurance agents, brokers,
and service (*)140,158 (*)31,943
Real estate (*)51,699 7,078
Holding and other investment
companies, except bank
holding companies 208,905 205,468
Services 3,870,011 1,742,592
Hotels and other lodging
places (*)89,022 (*)280,183
Personal services (*)121,007 (*)5,111
Business services 2,244,920 1,101,856
Auto repair; miscellaneous
repair services (*)867 (*)1,163
Amusement and recreation
services (*)538,299 143,574
All other services 875,895 210,705
Foreign income and taxes
reported on Form 1118
Oil and gas
Major and selected minor extraction
industrial group income Foreign
(less branch
loss)(3) income(3)
(23) (24)
All industries 22,073,503 75,499,359
Agriculture, forestry, and
fishing — (*)3,346
Mining 2,482,356 1,525,846
Metal mining — (*)127,578
Coal mining (*)576,136 (*)29,812
Oil and gas extraction 1,882,660 1,364,495
Nonmetallic minerals, except
fuels (*)3,560 (*)3,962
Construction — (*)18,518
General building contractors — (*)2,898
Heavy construction
contractors — (*)16,108
Special trade contractors — (*)-488
Manufacturing 19,462,765 29,497,116
Food and kindred products — 1,293,224
Tobacco manufactures — (*)924,505
Textile mill products — (*)2,164
Apparel and other textile
products — (*)66,964
Lumber and wood products — (*)1,679
Furniture and fixtures — (*)7,491
Paper and allied products — (*)37,376
Printing and publishing — (*)236,158
Industrial plastics and
synthetic materials (*)1,456,066 1,611,631
Drugs — 1,774,267
Other chemicals — 1,132,274
Petroleum (including
integrated) and coal
products 18,006,124 16,696,754
Rubber and miscellaneous
plastics products — 223,687
Leather and leather products — (*)340
Stone, clay, and glass
products — (*)43,763
Primary metal industries — 973,541
Fabricated metal products — 127,448
Office, computing, and
accounting machinery — (*)974,140
Other machinery, except
electrical (*)575 744,758
Electrical and electronic
equipment — 864,665
Motor vehicles and equipment — (*)746,259
Transportation equipment,
except motor vehicles — 481,550
Instruments and related
products — 433,502
Miscellaneous manufacturing
and manufacturing not
allocable — 98,974
Transportation and public
utilities (*)97,909 1,508,962
Transportation — (*)1,089,456
Water transportation — (*)23,832
All other transportation — (*)1,065,624
Communication — (*)278,494
Electric, gas, and sanitary
services (*)97,909 (*)141,012
Wholesale and retail trade — 2,375,382
Wholesale trade — 733,919
Groceries and related
products — —
Machinery, equipment, and
supplies — (*)86,230
Miscellaneous wholesale
trade — 647,689
Drugs, chemicals, and
allied products — (*)810
Petroleum and
petroleum products — (*)99,696
Other miscellaneous
wholesale trade — 547,183
Retail trade — 1,641,463
Building materials,
garden supplies, and
mobile home dealers — —
General merchandise
stores — (*)285,030
Food stores — (*)59,389
Automotive dealers and
service stations — —
Apparel and accessory
stores — (*)30,852
Furniture and home
furnishing stores — —
Eating and drinking
places — (*)1,101,391
All other retail stores — (*)164,800
Finance, Insurance, and real
estate (*)50,473 38,366,308
Banking — (*)28,895,869
Credit agencies other than
banks — (*)309,367
Security, commodity brokers,
and services — (*)1,218,216
Insurance — 7,661,604
Insurance agents, brokers,
and service — (*)31,900
Real estate — (*)38,955
Holding and other investment
companies, except bank
holding companies (*)50,473 (*)10,397
Services — 2,203,882
Hotels and other lodging
places — (*)262,171
Personal services — (*)40
Business services — 1,214,615
Auto repair; miscellaneous
repair services — —
Amusement and recreation
services — (*)624,976
All other services — (*)102,079
Foreign income and taxes
reported on Form 1118
Deductions
Specifically
allocable Total
Major and selected minor income
industrial group [section
863 (b)(3)
(25) (26)
All industries 27,442,900 1,180,252,217
Agriculture, forestry, and
fishing (*)23,441 (*)157,071
Mining (*)227,702 4,358,129
Metal mining — (*)1,410,038
Coal mining — -741,137
Oil and gas extraction (*)219,895 2,199,176
Nonmetallic minerals, except
fuels (*)7,808 (*)7,779
Construction 1,653 1,432,678
General building contractors — 285,669
Heavy construction
contractors — 1,102,009
Special trade contractors (*)1,853 (*)45,000
Manufacturing 18,229,264 73,719,774
Food and kindred products 508,797 3,964,162
Tobacco manufactures (*)589,384 (*)2,247,569
Textile mill products (*)22,968 43,187
Apparel and other textile
products (*)12,672 229,763
Lumber and wood products (*)2,401 (*)32,530
Furniture and fixtures (*)6,296 (*)31,458
Paper and allied products 511,983 882,744
Printing and publishing (*)63,338 3,025,432
Industrial plastics and
synthetic materials 2,048,162 5,549,747
Drugs 1,516,684 4,449,725
Other chemicals 477,710 2,698,182
Petroleum (including
integrated) and coal
products (*)198,938 13,583,043
Rubber and miscellaneous
plastics products 59,900 609,541
Leather and leather products (*)6,816 (*)51,068
Stone, clay, and glass
products (*)137,764 409,816
Primary metal industries 389,136 1,997,679
Fabricated metal products 236,338 864,524
Office, computing, and
accounting machinery (*)813,417 6,123,466
Other machinery, except
electrical 956,773 3,683,350
Electrical and electronic
equipment 5,639,116 10,901,735
Motor vehicles and equipment 1,216,207 4,738,958
Transportation equipment,
except motor vehicles 554,522 2,041,052
Instruments and related
products 2,053,270 4,926,446
Miscellaneous manufacturing
and manufacturing not
allocable 206,672 634,593
Transportation and public
utilities 4,786,644 21,807,501
Transportation (*)4,710,425 11,850,252
Water transportation (*)10,113 1,427,818
All other transportation (*)4,700,312 10,422,433
Communication (*)25,195 9,642,910
Electric, gas, and sanitary
services (*)51,024 314,340
Wholesale and retail trade 321,353 7,681,111
Wholesale trade 171,917 5,350,413
Groceries and related
products (*)728 (*)2,134
Machinery, equipment, and
supplies (*)9,253 93,463
Miscellaneous wholesale
trade 161,936 5,254,817
Drugs, chemicals, and
allied products (*)1,135 30,390
Petroleum and
petroleum products — (*)1,116,039
Other miscellaneous
wholesale trade (*)160,801 4,108,388
Retail trade (*)149,436 2,230,698
Building materials,
garden supplies, and
mobile home dealers — -1,930
General merchandise
stores (*)84,596 (*)400,611
Food stores — (*)78,639
Automotive dealers and
service stations — —
Apparel and accessory
stores (*)2,448 101,663
Furniture and home
furnishing stores — (*)3,956
Eating and drinking
places (*)489 1,429,569
All other retail stores (*)61,903 214,329
Finance, Insurance, and real
estate 2,981,923 59,581,857
Banking (*)2,362,961 31,740,631
Credit agencies other than
banks — 6,013,307
Security, commodity brokers,
and services (*)3,633 7,768,920
Insurance 590,102 13,192,305
Insurance agents, brokers,
and service — (*)186,640
Real estate (*)9,031 51,705
Holding and other investment
companies, except bank
holding companies (*)16,195 598,348
Services 870,720 11,644,095
Hotels and other lodging
places (*)2,439 560,180
Personal services (*)118 155,968
Business services 618,313 6,162,742
Auto repair; miscellaneous
repair services (*)3,616 (*)2,320
Amusement and recreation
services (*)43,024 3,550,008
All other services (*)203,210 1,212,878
Foreign income and taxes
reported on Form 1118
Deductions
Deduction allocable to
specific types of income
Rental,
royalty, and
licensing
expenses
Depreciation
Total depletion,
Major and selected minor and
industrial group amortization
(27) (28)
All industries 91,896,475 1,398,793
Agriculture, forestry, and
fishing (*)103,257 —
Mining 3,641,828 32,740
Metal mining (*)1,042,194 (*)782
Coal mining (*)731,870 —
Oil and gas extraction 1,862,220 31,958
Nonmetallic minerals, except
fuels (*)5,545 —
Construction 1,364,323 (*)344
General building contractors 256,482 (*)4
Heavy construction
contractors (*)1,086,192 (*)220
Special trade contractors (*)41,648 (*)121
Manufacturing 38,268,158 227,380
Food and kindred products 2,406,136 (*)1,317
Tobacco manufactures (*)1,387,309 —
Textile mill products (*)31,255 (*)64
Apparel and other textile
products (*)72,403 (*)92
Lumber and wood products (*)7,653 (*)1,289
Furniture and fixtures (*)22,642 (*)1,211
Paper and allied products 239,665 (*)529
Printing and publishing 1,922,911 (*)490
Industrial plastics and
synthetic materials 3,045,652 (*)8,138
Drugs 1,623,470 (*)734
Other chemicals 1,658,063 (*)553
Petroleum (including
integrated) and coal
products 10,148,777 (*)18,900
Rubber and miscellaneous
plastics products 415,769 (*)81
Leather and leather products (*)10,502 —
Stone, clay, and glass
products 146,521 —
Primary metal industries 1,144,031 (*)142,890
Fabricated metal products 437,662 (*)1,934
Office, computing, and
accounting machinery 1,893,264 (*)1,333
Other machinery, except
electrical 1,987,536 (*)2,109
Electrical and electronic
equipment 5,123,229 (*)799
Motor vehicles and equipment 1,204,999 —
Transportation equipment,
except motor vehicles 1,492,429 (*)37,186
Instruments and related
products 1,577,298 —
Miscellaneous manufacturing
and manufacturing not
allocable 268,984 (*)7,732
Transportation and public
utilities 15,182,848 390,514
Transportation 10,658,060 (*)95,289
Water transportation (*)1,395,385 (*)282
All other transportation 9,262,676 (*)95,007
Communication 4,386,789 (*)291,908
Electric, gas, and sanitary
services 137,998 (*)3,318
Wholesale and retail trade 5,500,646 11,822
Wholesale trade 3,913,972 10,679
Groceries and related
products (*)728 (*)38
Machinery, equipment, and
supplies 41,072 (*)7,078
Miscellaneous wholesale
trade 3,872,172 (*)3,563
Drugs, chemicals, and
allied products (*)13,033 —
Petroleum and
petroleum products (*)353,743 —
Other miscellaneous
wholesale trade 3,505,396 (*)3,563
Retail trade 1,586,674 (*)1,143
Building materials,
garden supplies, and
mobile home dealers (*)303 —
General merchandise
stores (*)315,093 —
Food stores (*)72,112 (*)376
Automotive dealers and
service stations — —
Apparel and accessory
stores (*)66,898 —
Furniture and home
furnishing stores (*)2,443 —
Eating and drinking
places 961,189 —
All other retail stores 168,637 (*)767
Finance, Insurance, and real
estate 20,046,027 424,700
Banking 7,318,464 (*)350,181
Credit agencies other than
banks 4,280,670 (*)61,970
Security, commodity brokers,
and services 2,659,299 (*)495
Insurance 5,106,418 (*)6,760
Insurance agents, brokers,
and service (*)153,419 (*)259
Real estate 46,935 (*)2,758
Holding and other investment
companies, except bank
holding companies 480,821 (*)2,277
Services 7,769,388 311,291
Hotels and other lodging
places (*)339,657 (*)3,751
Personal services (*)120,121 —
Business services 3,395,718 46,215
Auto repair; miscellaneous
repair services (*)1,545 (*)276
Amusement and recreation
services 2,982,708 (*)257,263
All other services 929,638 (*)3,787
Foreign income and taxes
reported on Form 1118
Deductions
Deductions allocable to
specific types of income
Rental,
royalty,
and
amortization
Major and selected minor Service
industrial group Other expenses
(29) (30)
All industries 6,341,056 12,557,040
Agriculture, forestry, and
fishing (*)4,327 —
Mining (*)25,055 (*)965,385
Metal mining — (*)114,791
Coal mining — —
Oil and gas extraction (*)25,055 (*)847,216
Nonmetallic minerals, except
fuels — (*)3,378
Construction (*)1,047 1,349,263
General building contractors — (*)233,794
Heavy construction
contractors (*)59 (*)1,079,171
Special trade contractors (*)987 (*)36,298
Manufacturing 2,009,134 1,878,048
Food and kindred products (*)1,019,953 (*)1,850
Tobacco manufactures (*)29,999 —
Textile mill products — (*)64
Apparel and other textile
products (*)5,473 (*)1,108
Lumber and wood products — (*)2,487
Furniture and fixtures (*)2,294 (*)1,784
Paper and allied products (*)23,946 (*)58,621
Printing and publishing 342,305 88,460
Industrial plastics and
synthetic materials 28,641 (*)39,061
Drugs (*)5,472 (*)52,361
Other chemicals (*)1,576 (*)10,267
Petroleum (including
integrated) and coal
products (*)57,046 (*)279,251
Rubber and miscellaneous
plastics products (*)8,964 (*)6,947
Leather and leather products (*)1,526 (*)805
Stone, clay, and glass
products (*)822 (*)32,401
Primary metal industries (*)11,741 (*)333,981
Fabricated metal products (*)1,807 (*)21,295
Office, computing, and
accounting machinery (*)1,255 (*)1,214
Other machinery, except
electrical 25,648 109,126
Electrical and electronic
equipment 244,943 129,013
Motor vehicles and equipment (*)10,688 (*)401,055
Transportation equipment,
except motor vehicles (*)69,623 (*)285,193
Instruments and related
products (*)41,376 (*)12,362
Miscellaneous manufacturing
and manufacturing not
allocable (*)74,036 9,343
Transportation and public
utilities 297,757 5,054,410
Transportation 230,156 4,873,304
Water transportation (*)6,588 (*)1,385,085
All other transportation (*)223,569 3,488,219
Communication (*)40,877 (*)178,657
Electric, gas, and sanitary
services (*)26,724 (*)2,448
Wholesale and retail trade 268,670 103,417
Wholesale trade 118,978 36,509
Groceries and related
products (*)567 (*)4
Machinery, equipment, and
supplies (*)2,628 (*)6,814
Miscellaneous wholesale
trade 115,784 (*)28,690
Drugs, chemicals, and
allied products — (*)5,285
Petroleum and
petroleum products — (*)48
Other miscellaneous
wholesale trade 115,784 (*)23,357
Retail trade 149,592 (*)67,908
Building materials,
garden supplies, and
mobile home dealers (*)303 —
General merchandise
stores — (*)61,368
Food stores -13,603 —
Automotive dealers and
service stations — —
Apparel and accessory
stores — (*)3,015
Furniture and home
furnishing stores (*)1,059 —
Eating and drinking
places (*)68,717 (*)3,459
All other retail stores (*)65,911 (*)66
Finance, Insurance, and real
estate 1,661,553 701,672
Banking (*)145,874 (*)104,443
Credit agencies other than
banks (*)199,325 (*)14,586
Security, commodity brokers,
and services (*)980,758 (*)82,994
Insurance 53,050 192,228
Insurance agents, brokers,
and service (*)329 (*)113,066
Real estate (*)1,872 (*)20,791
Holding and other investment
companies, except bank
holding companies 180,346 (*)173,564
Services 2,173,612 2,504,847
Hotels and other lodging
places (*)12,757 (*)12,530
Personal services (*)2,066 (*)115,179
Business services 335,576 1,342,739
Auto repair; miscellaneous
repair services (5) (*)521
Amusement and recreation
services (*)1,791,157 (*)400,121
All other services 32,056 633,757
Foreign income and taxes
reported on Form 1118
Deductions
Deductions
Other not allocable
Major and selected minor deductions to specific
industrial group allocable types of
to specific income
types of
income
Total
(31) (32)
All industries 71,599,587 88,355,742
Agriculture, forestry, and
fishing (*)98,929 (*)53,814
Mining 2,618,649 716,301
Metal mining (*)926,621 (*)367,845
Coal mining (*)731,870 (*)9,267
Oil and gas extraction 957,991 336,956
Nonmetallic minerals, except
fuels (*)2,167 (*)2,234
Construction 33,670 48,385
General building contractors 22,684 (*)29,187
Heavy construction
contractors (*)8,742 (*)15,817
Special trade contractors (*)4,243 (*)3,352
Manufacturing 34,153,595 35,451,616
Food and kindred products 1,383,016 1,558,026
Tobacco manufactures (*)1,357,310 (*)860,261
Textile mill products (*)31,126 11,932
Apparel and other textile
products (*)65,731 157,360
Lumber and wood products (*)3,878 (*)24,877
Furniture and fixtures (*)17,354 (*)8,816
Paper and allied products 156,568 643,079
Printing and publishing 1,491,656 1,102,522
Industrial plastics and
synthetic materials 2,969,811 2,504,096
Drugs 1,564,904 2,826,255
Other chemicals 1,645,667 1,040,119
Petroleum (including
integrated) and coal
products 9,793,581 3,434,266
Rubber and miscellaneous
plastics products 399,777 193,772
Leather and leather products (*)8,171 (*)40,566
Stone, clay, and glass
products (*)113,298 263,295
Primary metal industries 655,419 853,648
Fabricated metal products 412,626 426,862
Office, computing, and
accounting machinery 1,889,462 4,230,202
Other machinery, except
electrical 1,850,651 1,695,815
Electrical and electronic
equipment 4,748,474 5,778,506
Motor vehicles and equipment 793,257 3,533,959
Transportation equipment,
except motor vehicles 1,100,426 548,824
Instruments and related
products 1,523,560 3,349,148
Miscellaneous manufacturing
and manufacturing not
allocable 177,873 365,609
Transportation and public
utilities 9,440,167 6,624,654
Transportation 5,459,311 1,192,191
Water transportation (*)3,430 (*)32,434
All other transportation 5,455,881 1,159,758
Communication 3,875,348 5,256,120
Electric, gas, and sanitary
services 105,508 176,342
Wholesale and retail trade 5,116,837 2,080,466
Wholesale trade 3,748,806 1,436,442
Groceries and related
products (*)119 (*)1,406
Machinery, equipment, and
supplies (*)24,553 52,390
Miscellaneous wholesale
trade 3,724,134 1,382,646
Drugs, chemicals, and
allied products (*)7,748 (*)17,358
Petroleum and
petroleum products (*)353,695 (*)762,296
Other miscellaneous
wholesale trade 3,362,692 602,992
Retail trade 1,368,031 644,023
Building materials,
garden supplies, and
mobile home dealers — (*)1,627
General merchandise
stores (*)253,725 (*)85,518
Food stores (*)58,133 (*)6,528
Automotive dealers and
service stations — —
Apparel and accessory
stores (*)63,883 34,765
Furniture and home
furnishing stores -1,384 -1,513
Eating and drinking
places (*)889,013 468,381
All other retail stores 101,894 45,692
Finance, Insurance, and real
estate 17,358,102 39,$06,830
Banking 6,717,967 24,422,167
Credit agencies other than
banks (*)4,004,790 1,732,637
Security, commodity brokers,
and services 1,595,052 5,109,621
Insurance 4,854,380 8,085,887
Insurance agents, brokers,
and service (*)39,765 (*)33,221
Real estate (*)21,514 (*)4,770
Holding and other investment
companies, except bank
holding companies 124,634 117,527
Services 2,779,638 3,874,707
Hotels and other lodging
places (*)310,619 220,524
Personal services (*)2,876 (*)35,846
Business services 1,671,189 2,767,023
Auto repair; miscellaneous
repair services (*)748 (*)775
Amusement and recreation
services (*)534,167 567,299
All other services 260,040 283,239
Foreign income and taxes
reported on Form 1118
Deductions
Deductions not allocable
to specific types of income
Major and selected minor Research
industrial group and Interest
development
(33) (34)
All industries 9,232,584 35,536,186
Agriculture, forestry, and
fishing (*)22,388 (*)12,424
Mining (*)28,646 184,390
Metal mining — (*67,549
Coal mining — (*)8,155
Oil and gas extraction (*)28,646 107,229
Nonmetallic minerals, except
fuels — -1,457
Construction (*)468 (*)7,693
General building contractors — -1,925
Heavy construction
contractors — (*)3,751
Special trade contractors (*)468 (*)2,017
Manufacturing 7,811,540 11,129,424
Food and kindred products 45,878 698,221
Tobacco manufactures (*)43,747 (*)318,403
Textile mill products (*)1,597 9,426
Apparel and other textile
products (*)8,854 (*)77,512
Lumber and wood products — (*)16,187
Furniture and fixtures (*)113 (*)7,659
Paper and allied products 126,453 170,969
Printing and publishing (*)13,203 227,763
Industrial plastics and
synthetic materials 516,016 1,219,465
Drugs 823,075 832,446
Other chemicals 273,901 341,710
Petroleum (including
integrated) and coal
products 174,504 1,887,357
Rubber and miscellaneous
plastics products 15,208 33,269
Leather and leather products (*)1,353 (*)8,376
Stone, clay, and glass
products (*)35,707 110,682
Primary metal industries 25,648 154,802
Fabricated metal products 36,982 176,442
Office, computing, and
accounting machinery 1,924,431 469,841
Other machinery, except
electrical 260,921 473,148
Electrical and electronic
equipment 1,277,489 1,652,548
Motor vehicles and equipment 842,889 1,389,312
Transportation equipment,
except motor vehicles 150,149 212,878
Instruments and related
products 1,113,946 575,474
Miscellaneous manufacturing
and manufacturing not
allocable 99,475 65,536
Transportation and public
utilities 312,900 737,028
Transportation (*)3,755 137,550
Water transportation — (*)27,962
All other transportation (*)3,755 109,588
Communication (*)309,136 (*)432,274
Electric, gas, and sanitary
services (*)9 167,204
Wholesale and retail trade 3,548 1,515,266
Wholesale trade 3,267 1,101,859
Groceries and related
products — —
Machinery, equipment, and
supplies (*)266 (*)8,114
Miscellaneous wholesale
trade (*)3,000 1,093,745
Drugs, chemicals, and
allied products — (*)3,803
Petroleum and
petroleum products — (*)757,366
Other miscellaneous
wholesale trade (*)3,000 332,577
Retail trade (*)281 413,407
Building materials,
garden supplies, and
mobile home dealers — —
General merchandise
stores (*)2 (*)63,754
Food stores — (*)390
Automotive dealers and
service stations — —
Apparel and accessory
stores (*)268 *27,405
Furniture and home
furnishing stores — (*)76
Eating and drinking
places (*)11 (*)301,492
All other retail stores — (*)20,289
Finance, Insurance, and real
estate (*)15,939 21,279,488
Banking (*)6,068 14,502,053
Credit agencies other than
banks — 1,033,820
Security, commodity brokers,
and services (*)2,574 4,745,670
Insurance (*)1,135 954,171
Insurance agents, brokers,
and service (*)5,394 (*)13,820
Real estate — (*)4,662
Holding and other investment
companies, except bank
holding companies (*)767 25,293
Services 1,037,155 670,472
Hotels and other lodging
places — (*)155,316
Personal services (*)1,362 (*)32,524
Business services 997,008 150,335
Auto repair; miscellaneous
repair services (5) (*)69
Amusement and recreation
services (*)5,663 (*)269,480
All other services 33,122 62,748
Foreign income and taxes
reported on Form 1118
Deductions
Deductions
not allocable Deductions
to specific from oil
types of income and gas
Major and selected minor extraction
industrial group Other income(4)
(35) (36)
All industries 41,328,284 7,428,558
Agriculture, forestry, and
fishing (*)18,002 —
Mining 498,967 888,345
Metal mining (*)300,296 —
Coal mining — (*)117,801
Oil and gas extraction 198,097 750,544
Nonmetallic minerals, except
fuels (*)575 —
Construction 33,623 —
General building contractors (*)27,261 —
Heavy construction
contractors (*)5,834 —
Special trade contractors (*)528 —
Manufacturing 16,068,492 6,485,088
Food and kindred products 799,247 —
Tobacco manufactures (*)460,277 —
Textile mill products (*)656 —
Apparel and other textile
products (*)68,591 —
Lumber and wood products (*)8,613 —
Furniture and fixtures (*)1,044 —
Paper and allied products 343,965 —
Printing and publishing 839,821 —
Industrial plastics and
synthetic materials 752,352 (*)535,631
Drugs 961,327 —
Other chemicals 417,289 —
Petroleum (including
integrated) and coal
products 1,370,745 5,949,385
Rubber and miscellaneous
plastics products 138,986 —
Leather and leather products (*)30,838 —
Stone, clay, and glass
products (*)114,225 —
Primary metal industries 658,861 —
Fabricated metal products 210,683 —
Office, computing, and
accounting machinery 1,828,848 —
Other machinery, except
electrical 937,971 (*)72
Electrical and electronic
equipment 2,800,080 —
Motor vehicles and equipment 1,290,224 —
Transportation equipment,
except motor vehicles 184,188 —
Instruments and related
products 1,654,570 —
Miscellaneous manufacturing
and manufacturing not
allocable 195,070 —
Transportation and public
utilities 5,570,089 (*)73,170
Transportation 1,047,316 —
Water transportation (*)2,493 —
All other transportation 1,044,823 —
Communication (*)4,514,711 —
Electric, gas, and sanitary
services (*)8,062 (*)73,170
Wholesale and retail trade 513,966 —
Wholesale trade 297,730 —
Groceries and related
products — —
Machinery, equipment, and
supplies (*)42,452 —
Miscellaneous wholesale
trade 255,278 —
Drugs, chemicals, and
allied products (*)8,406 —
Petroleum and
petroleum products (*)4,930 —
Other miscellaneous
wholesale trade 241,943 —
Retail trade 216,236 —
Building materials,
garden supplies, and
mobile home dealers — —
General merchandise
stores (*)21,762 —
Food stores -2,124 —
Automotive dealers and
service stations — —
Apparel and accessory
stores (*)6,360 —
Furniture and home
furnishing stores -1,432 —
Eating and drinking
places (*)163,230 —
All other retail stores (*)21,329 —
Finance, Insurance, and real
estate 16,592,139 (*)1,965
Banking 8,505,624 —
Credit agencies other than
banks (*)698,817 —
Security, commodity brokers,
and services (*)347,148 —
Insurance 6,958,547 —
Insurance agents, brokers,
and service (*)3,321 —
Real estate (*)108 —
Holding and other investment
companies, except bank
holding companies 78,573 (*)1,955
Services 2,030,007 —
Hotels and other lodging
places (*)64,676 —
Personal services (*)788 —
Business services 1,495,624 —
Auto repair; miscellaneous
repair services (*)706 —
Amusement and recreation
services 292,156 —
All other services 176,056 —
Foreign income and taxes
reported on Form 1118
Taxable
income
Major and selected minor (less loss) Adjustments
industrial group before to taxable
adjustments income
(37) (38)
All industries 150,826,345 5,235,512
Agriculture, forestry, and
fishing 294,197 (*)1,149
Mining 3,076,248 175,450
Metal mining 492,387 (*)15,790
Coal mining (*)613,696 —
Oil and gas extraction 1,937,173 (*)159,669
Nonmetallic minerals, except
fuels (*)32,992 —
Construction 605,741 (*)1,108
General building contractors 107,743 —
Heavy construction
contractors 464,057 —
Special trade contractors 33,941 (*)1,108
Manufacturing 99,667,411 3,262,098
Food and kindred products 7,131,741 15,574
Tobacco manufactures (*)3,743,893 (5)
Textile mill products 59,628 —
Apparel and other textile
products 591,206 (*)17,580
Lumber and wood products 53,414 —
Furniture and fixtures 97,040 (5)
Paper and allied products 2,730,948 (*)509
Printing and publishing 1,965,907 (*)14,118
Industrial plastics and
synthetic materials 6,011,583 368,404
Drugs 9,104,967 123,992
Other chemicals 3,415,603 70,051
Petroleum (including
integrated) and coal
products 22,499,991 184,788
Rubber and miscellaneous
plastics products 723,330 (*)27,997
Leather and leather products (*)48,487 —
Stone, clay, and glass
products 745,460 (*)71,409
Primary metal industries 1,720,828 56,457
Fabricated metal products 1,462,747 25,021
Office, computing, and
accounting machinery 9,029,004 (*)668,751
Other machinery, except
electrical 2,194,725 19,908
Electrical and electronic
equipment 9,929,864 474,060
Motor vehicles and equipment 8,516,512 602,676
Transportation equipment,
except motor vehicles 1,471,901 (*)5,545
Instruments and related
products 5,548,081 478,456
Miscellaneous manufacturing
and manufacturing not
allocable 860,550 (*)36,802
Transportation and public
utilities 3,967,338 213,035
Transportation 1,561,893 (*)169,935
Water transportation 214,932 (*)76,576
All other transportation 1,346,961 (*)93,359
Communication 2,192,011 (*)39,443
Electric, gas, and sanitary
services 213,434 (*)3,657
Wholesale and retail trade 6,022,761 173,569
Wholesale trade 2,508,546 157,033
Groceries and related
products (*)8,68 —
Machinery, equipment, and
supplies 71,495 (5)
Miscellaneous wholesale
trade 2,428,363 157,033
Drugs, chemicals, and
allied products 93,375 (*)48,085
Petroleum and
petroleum products (*)584,585 —
Other miscellaneous
wholesale trade 1,750,403 108,948
Retail trade 2,514,216 (*)16,527
Building materials,
garden supplies, and
mobile home dealers (*)17,389 (*)5,623
General merchandise
stores (*)544,414 (*)10,122
Food stores (*)70,459 —
Automotive dealers and
service stations (*)848 —
Apparel and accessory
stores 133,031 —
Furniture and home
furnishing stores -9,441 —
Eating and drinking
places 1,419,207 (5)
All other retail stores 319,426 (*)782
Finance, Insurance, and real
estate 30,290,692 1,226,961
Banking 13,293,730 997,697
Credit agencies other than
banks 1,290,538 (*)11,933
Security, commodity brokers,
and services 4,260,564 (*)37,141
Insurance 8,956,197 169,207
Insurance agents, brokers,
and service 409,461 (*)5,156
Real estate 47,115 (*)5,413
Holding and other investment
companies, except bank
holding companies 2,032,987 (*)414
Services 7,912,067 182,141
Hotels and other lodging
places 292,283 (*)29,993
Personal services 108,667 (*)5,394
Business services 6,106,388 132,198
Auto repair; miscellaneous
repair services (*)4,550 —
Amusement and recreation
services 730,352 (*)11,070
All other services 669,817 (*)3,486
Foreign income and taxes
reported on Form 1118
Taxable
income
Major and selected minor (less loss)
industrial group after Total
adjustments
(39) (40)
All industries 145,590,834 48,085,447
Agriculture, forestry, and
fishing 293,048 93,607
Mining 2,000,789 1,478,532
Metal mining 476,597 466
Coal mining (*)613,696 (*)219,166
Oil and gas extraction 1,777,504 788,592
Nonmetallic minerals, except
fuels (*)32,992 (*)4,651
Construction 604,633 214,161
General building contractors 107,743 37,432
Heavy construction
contractors 464,057 163
Special trade contractors 32,833 13,786
Manufacturing 96,395,313 35,004,424
Food and kindred products 7,116,167 2,491,511
Tobacco manufactures (*)3,743,893 (*)1,265,525
Textile mill products 59,628 17,510
Apparel and other textile
products 573,626 172,589
Lumber and wood products 53,414 24,481
Furniture and fixtures 97,040 42,281
Paper and allied products 2,730,439 993,345
Printing and publishing 1,951,789 489,741
Industrial plastics and
synthetic materials 5,643 1,738,901
Drugs 8,980,975 2,790,624
Other chemicals 3,345,552 1,085,570
Petroleum (including
integrated) and coal
products 22,315,203 10,795,562
Rubber and miscellaneous
plastics products 695,333 225,109
Leather and leather products (*)48,487 8,115
Stone, clay, and glass
products 674,051 314,528
Primary metal industries 1,664 772,238
Fabricated metal products 1,438 581,296
Office, computing, and
accounting machinery 8,360 3,327,219
Other machinery, except
electrical 2,174,817 684,721
Electrical and electronic
equipment 9,455,804 2,435,789
Motor vehicles and equipment 7,913,836 2,557,426
Transportation equipment,
except motor vehicles 1,466,357 494,366
Instruments and related
products 5,069,625 1,457,298
Miscellaneous manufacturing
and manufacturing not
allocable 823,748 238,740
Transportation and public
utilities 3,754,303 522,968
Transportation 1,391,958 170,349
Water transportation 138,355 31,155
All other transportation 1,253,602 139,194
Communication 2,152,568 237,550
Electric, gas, and sanitary
services 209,777 115,069
Wholesale and retail trade 4,849,202 1,511,164
Wholesale trade 2,351,513 660,633
Groceries and related
products (*)8,687 (*)2,387
Machinery, equipment, and
supplies 71,495 15,504
Miscellaneous wholesale
trade 2,271,330 642,742
Drugs, chemicals, and
allied products 45,290 16,774
Petroleum and
petroleum products (*)584,585 (*)152,698
Other miscellaneous
wholesale trade 1,641,456 473,270
Retail trade 2,497,689 860,631
Building materials,
garden supplies, and
mobile home dealers (*)11,767 (*)1,605
General merchandise
stores (*)534,291 (*)174,295
Food stores (*)70,459 (*)16,243
Automotive dealers and
service stations (*)848 (*)98
Apparel and accessory
stores 133,031 37,407
Furniture and home
furnishing stores (*)9,441 (*)676
Eating and drinking
places 1,419,207 559,245
All other retail stores 318,645 60,962
Finance, Insurance, and real
estate 29,063,631 7,102,084
Banking 12,296,033 3,182,748
Credit agencies other than
banks 1,278,605 306,642
Security, commodity brokers,
and services 4,223,423 1,116,898
Insurance 8,786,990 1,584,751
Insurance agents, brokers,
and service 404,305 121,235
Real estate 41,702 17,310
Holding and other investment
companies, except bank
holding companies 2,032,573 772,501
Services 7,729,918 2,188,808
Hotels and other lodging
places 262,290 110,934
Personal services 103,272 56,473
Business services 5,974,191 1,506,122
Auto repair; miscellaneous
repair services (*)4,550 (*)956
Amusement and recreation
services 719,282 213,754
All other services 666,330 270,266
Foreign income and taxes
reported on Form 1118
Foreign taxes available
for credit
Major and selected minor Reduction
industrial group for certain
foreign Carryover
taxes
(41) (42)
All industries 1,772,035 8,680,079
Agriculture, forestry, and
fishing — (*)844
Mining 456,676 561,468
Metal mining (*)24,525 (*)128,254
Coal mining (*)43,307 (*)1,250
Oil and gas extraction 380,850 423,039
Nonmetallic minerals, except
fuels (*)7,994 (*)8,945
Construction — 14,579
General building contractors — (*)773
Heavy construction
contractors — (*)9,729
Special trade contractors — (*)4,078
Manufacturing 1,310,611 6,893,400
Food and kindred products — 250,452
Tobacco manufactures — (*)61,698
Textile mill products — (*)752
Apparel and other textile
products — (*)483
Lumber and wood products (*)10 (*)10,741
Furniture and fixtures — (*)15,224
Paper and allied products (*)20 (*)32,574
Printing and publishing — 33,315
Industrial plastics and
synthetic materials (*)14 135,301
Drugs (*)190 156,701
Other chemicals — 45,109
Petroleum (including
integrated) and coal
products 1,309,105 3,589,083
Rubber and miscellaneous
plastics products — 41
Leather and leather products — (*)537
Stone, clay, and glass
products — 45,578
Primary metal industries (*)1,109 219,542
Fabricated metal products (*)18 60,993
Office, computing, and
accounting machinery — 1,413,481
Other machinery, except
electrical (*)43 122,308
Electrical and electronic
equipment — 157,589
Motor vehicles and equipment — 257,477
Transportation equipment,
except motor vehicles (*)62 (*)110,672
Instruments and related
products — 124,954
Miscellaneous manufacturing
and manufacturing not
allocable (*)40 7,541
Transportation and public
utilities (*)3,927 65,879
Transportation — 34,140
Water transportation — (*)2,775
All other transportation — 31,365
Communication — (*)41,874
Electric, gas, and sanitary
services (*)3,927 (*)9,866
Wholesale and retail trade — 127,866
Wholesale trade — 76,453
Groceries and related
products — (*)1,104
Machinery, equipment, and
supplies — (*)401
Miscellaneous wholesale
trade — 74,948
Drugs, chemicals, and
allied products — (*)3,476
Petroleum and
petroleum products — (*)202
Other miscellaneous
wholesale trade — 71,270
Retail trade — 61,412
Building materials,
garden supplies, and
mobile home dealers — —
General merchandise
stores — (*)4,772
Food stores — (*)8,380
Automotive dealers and
service stations — (*)3
Apparel and accessory
stores — (*)16,458
Furniture and home
furnishing stores — (*)120
Eating and drinking
places — (*)20,360
All other retail stores — (*)1,319
Finance, Insurance, and real
estate (*)821 739,804
Banking — 432,811
Credit agencies other than
banks (*)53 (*)32,683
Security, commodity brokers,
and services — 21,909
Insurance — 127,280
Insurance agents, brokers,
and service — (*)406
Real estate (*)1 (*)4,390
Holding and other investment
companies, except bank
holding companies (*)767 120,026
Services — 256,519
Hotels and other lodging
places — (*)22,861
Personal services — (*)25,782
Business services — 97,500
Auto repair; miscellaneous
repair services — (*)331
Amusement and recreation
services — (*)8,430
All other services — 101,615
Foreign income and taxes
reported on Form 1118
Foreign taxes
available for credit
Paid or
accrued
Total paid,
accrued,
Major and selected minor and deemed Total
industrial group paid
(43) (44)
All industries 41,177,403 14,385,591
Agriculture, forestry, and
fishing 92,764 12,050
Mining 1,373,720 1,243,607
Metal mining 362,394 331,733
Coal mining (*)261,223 (*)259,972
Oil and gas extraction 746,403 651,109
Nonmetallic minerals, except
fuels (*)3,700 (*)794
Construction 199,582 71,826
General building contractors 37 16,646
Heavy construction
contractors 153,215 53,686
Special trade contractors 10 1,494
Manufacturing 29,421,635 8,603,888
Food and kindred products 2,241,060 495,520
Tobacco manufactures (*)1,203,827 (*)188,564
Textile mill products 16,757 1,940
Apparel and other textile
products 172,086 31,088
Lumber and wood products 13,730 5,504
Furniture and fixtures 27,036 3,279
Paper and allied products 960,791 123,339
Printing and publishing 456,426 180,853
Industrial plastics and
synthetic materials 1,603,614 360,558
Drugs 2,634,113 308,865
Other chemicals 1,040,461 305,207
Petroleum (including
integrated) and coal
products 8,515,584 4,356,562
Rubber and miscellaneous
plastics products 183,813 56,787
Leather and leather products (*)7,578 (*)6,801
Stone, clay, and glass
products 268,950 32,601
Primary metal industries 553,804 100
Fabricated metal products 520,322 114,322
Office, computing, and
accounting machinery 1,913,738 521,522
Other machinery, except
electrical 562,457 126,796
Electrical and electronic
equipment 2,278,200 577,345
Motor vehicles and equipment 2,299,949 344,206
Transportation equipment,
except motor vehicles 383,756 93
Instruments and related
products 1,332,344 225,737
Miscellaneous manufacturing
and manufacturing not
allocable 231,239 43,703
Transportation and public
utilities 441,016 210,323
Transportation 136,210 66,845
Water transportation 28,380 18,158
All other transportation 108 48,687
Communication 195,676 94
Electric, gas, and sanitary
services 109,130 49,610
Wholesale and retail trade 1,383,298 447,046
Wholesale trade 584,179 193,595
Groceries and related
products (*)1,283 (*)527
Machinery, equipment, and
supplies 15,102 4,833
Miscellaneous wholesale
trade 567,795 188,235
Drugs, chemicals, and
allied products 13,298 6,964
Petroleum and
petroleum products (*)152,496 (*)57,416
Other miscellaneous
wholesale trade 402,000 123,835
Retail trade 799,119 253,451
Building materials,
garden supplies, and
mobile home dealers (*)1,605 (*)1,605
General merchandise
stores (*)169,522 (*)27,057
Food stores (*)7,862 (*)7,862
Automotive dealers and
service stations (*)96 (*)96
Apparel and accessory
stores 20,949 13,239
Furniture and home
furnishing store s (*)556 (*)556
Eating and drinking
places 538,885 173,125
All other retail stores 59,643 29,910
Finance, Insurance, and real
estate 6,363,401 3,073,690
Banking 2,749,937 1,668,375
Credit agencies other than
banks 274,011 157,406
Security, commodity brokers,
and services 1,094,989 288,975
Insurance 1,457,471 863,050
Insurance agents, brokers,
and service 120,829 18,023
Real estate 12,922 1,844
Holding and other investment
companies, except bank
holding companies 653,242 76,016
Services 1,901,988 723,161
Hotels and other lodging
places 88,073 52,463
Personal services 30,691 5,778
Business services 1,408,622 484,316
Auto repair; miscellaneous
repair services (*)625 (*)158
Amusement and recreation
services 205,325 138,620
All other services 168,652 41,827
Foreign taxes
available for credit
Paid or accrued
Taxes
Taxes withheld
withheld at at source
Major and selected minor source on on–
industrial group dividends
Interest
(45) (46)
All industries 2,543,654 540,763
Agriculture, forestry, and
fishing (*)3,634 (*)622
Mining 68,695 14,078
Metal mining (*)38,751 (*)7,902
Coal mining (*)98 (*)5,091
Oil and gas extraction (*)29,807 1,036
Nonmetallic minerals, except
fuels (*)38 (*)49
Construction 13,676 (*)771
General building contractors (*)3,113 (*)48
Heavy construction
contractors (*)10,249 (*)454
Special trade contractors (*)314 (*)270
Manufacturing 1,941,938 239,590
Food and kindred products 264,493 6,750
Tobacco manufactures (*)113,266 (*)8,709
Textile mill products (*)557 (*)522
Apparel and other textile
products (*)13,540 (*)271
Lumber and wood products (*)3,119 (*)992
Furniture and fixtures (*)1,915 (*)313
Paper and allied products 60,043 3,731
Printing and publishing 31,881 906
Industrial plastics and
synthetic materials 96,535 9,649
Drugs 166,472 (*)2,178
Other chemicals 92,532 4,000
Petroleum (including
integrated) and coal
products 351,674 74,247
Rubber and miscellaneous
plastics products 20,827 2,164
Leather and leather products (*)170 (*)226
Stone, clay, and glass
products 13,365 852
Primary metal industries 26,663 2,873
Fabricated metal products 49,321 1,258
Office, computing, and
accounting machinery 126 (*)4,798
Other machinery, except
electrical 37,875 6,429
Electrical and electronic
equipment 136,277 74,826
Motor vehicles and equipment 217,015 24,805
Transportation equipment,
except motor vehicles 26,352 1,602
Instruments and related
products 75,666 6,662
Miscellaneous manufacturing
and manufacturing not
allocable 16,645 825
Transportation and public
utilities 46,432 17,745
Transportation 4,582 2,213
Water transportation (*)8 (*)499
All other transportation (*)4,573 1,714
Communication (*)7,494 (*)12,846
Electric, gas, and sanitary
services 34,355 (*)2,687
Wholesale and retail trade 67,474 21,402
Wholesale trade 40,611 17,121
Groceries and related
products (*)51 (*)59
Machinery, equipment, and
supplies 999 346
Miscellaneous wholesale
trade 39,561 16,715
Drugs, chemicals, and
allied products (*)861 (*)22
Petroleum and
petroleum products (*)21,030 (*)2,383
Other miscellaneous
wholesale trade 17,670 14,310
Retail trade 26,863 4,281
Building materials,
garden supplies, and
mobile home dealers (*)2 —
General merchandise
stores (*)5,960 (*)629
Food stores (*)2 (*)229
Automotive dealers and
service stations (*)22 (*)54
Apparel and accessory
stores (*)295 (*)411
Furniture and home
furnishing stores — (*)10
Eating and drinking
places (*)14,349 (*)1,822
All other retail stores (*)6,234 (*)1,126
Finance, Insurance, and real
estate 314,428 240,229
Banking 62,117 129,412
Credit agencies other than
banks 36,107 3,256
Security, commodity brokers,
and services 52,619 44,867
Insurance 96,841 57,715
Insurance agents, brokers,
and service 15,807 (*)123
Real estate 349 (*)11
Holding and other investment
companies, except bank
holding companies 50,590 4,844
Services 87,378 6,326
Hotels and other lodging
places (*)4,979 (*)1,105
Personal services (*)2,125 (*)262
Business services 69,458 3,088
Auto repair; miscellaneous
repair services (5) (*)26
Amusement and recreation
services (*)5,716 (*)724
All other services 5,100 (*)1,120
Foreign income and taxes
reported on Form 1118
Foreign taxes available
for credit
Paid or accrued
Taxes
withheld Other
at source taxes
on– paid or
accrued
on–
Major and selected minor
industrial groups Rents
royalties, Branch
and license income
fees
(47) (48)
All industries 1,994,254 5,550,340
Agriculture, forestry, and
fishing (*)2,883 (*)4,128
Mining 6,953 263,095
Metal mining (*)138 (*)155,687
Coal mining — (*)2,923
Oil and gas extraction 6,807 1,023,785
Nonmetallic minerals, except
fuels (*)8 (*)699
Construction (*)854 (*)28,683
General building contractors (*)10 (*)358
Heavy construction
contractors (*)203 (*)28,325
Special trade contractors (*)641 —
Manufacturing 1,418,251 2,871,446
Food and kindred products 83,225 108,863
Tobacco manufactures (*)53,184 (*)12,652
Textile mill products (*)560 (*)111
Apparel and other textile
products 15,758 (*)443
Lumber and wood products (*)1,132 (*)100
Furniture and fixtures 714 (*)58
Paper and allied products 35,440 (*)22,618
Printing and publishing 110,006 (*)7,184
Industrial plastics and
synthetic materials 78,356 137,723
Drugs 58,524 47,723
Other chemicals 112,937 82,687
Petroleum (including
integrated) and coal
products 22,218 2,161,620
Rubber and miscellaneous
plastics products 23,132 (*)9,613
Leather and leather products (*)5,458 (*)939
Stone, clay, and glass
products 7,039 (*)4,649
Primary metal industries 8,913 (*)20,467
Fabricated metal products 11,480 9,197
Office, computing, and
accounting machinery 339,647 (*)49,510
Other machinery, except
electrical 22,604 32,248
Electrical and electronic
equipment 244,448 60,551
Motor vehicles and equipment 30,947 (*)37,371
Transportation equipment,
except motor vehicles 29,521 (*)31,612
Instruments and related
products 106,191 25,503
Miscellaneous manufacturing
and manufacturing not
allocable 16,815 8,005
Transportation and public
utilities 35,319 37,259
Transportation 3,711 (*)24,900
Water transportation (*)723 (*)884
All other transportation 2,988 (*)24,016
Communication (*)30,648 (*)8,037
Electric, gas, and sanitary
services (*)961 (*)4,322
Wholesale and retail trade 107,925 191,286
Wholesale trade 39,812 45,932
Groceries and related
products (*)304 —
Machinery, equipment, and
supplies (*)492 (*)1,660
Miscellaneous wholesale
trade 39,016 44,273
Drugs, chemicals, and
allied products (*)380 (*)73
Petroleum and
petroleum products (*)4,128 (*)7,694
Other miscellaneous
wholesale trade 34,507 36,505
Retail trade 68,113 145,353
Building materials,
garden supplies, and
mobile home dealers (*)1,453 —
General merchandise
stores (*)3,789 (*)14,539
Food stores (*)7,490 (*)142
Automotive dealers and
service stations (*)20 —
Apparel and accessory
stores (*)2,473 (*)8,373
Furniture and home
furnishing stores (*)482 —
Eating and drinking
places 45,347 (*)109,927
All other retail stores 7,059 (*)12,372
Finance, Insurance, and real
estate 14,557 2,091,656
Banking (*)918 1,356,591
Credit agencies other than
banks (*)11,734 (*)90,164
Security, commodity brokers,
and services (*)19 (*)90,053
Insurance (*)381 553,207
Insurance agents, brokers,
and service (*)64 (*)484
Real estate (*)43 (*)496
Holding and other investment
companies, except bank
holding companies (*)1,398 (*)661
Services 407,511 62,787
Hotels and other lodging
places (*)15,152 (*)17,590
Personal services (*)1,867 (*)1,072
Business services 262,213 36,990
Auto repair; miscellaneous
repair services (*)103 —
Amusement and recreation
services (*)110,249 (*)4,795
All other services 17,928 (*)2,340
Foreign income and taxes
reported on Form 1118
Foreign taxes available
for credit
Paid or accrued
Other taxes paid
or accrued on–
Major and selected minor Specifically
industrial groups allocable
income Service
[section income
863 (b)]
(49) (50)
All industries 4,600 315,733
Agriculture, forestry, and
fishing — (*)378
Mining (*)121 (*)44,656
Metal mining — (*)3,850
Coal mining — —
Oil and gas extraction (*)121 (*)40,807
Nonmetallic minerals, except — —
fuels
Construction — 27,635
General building contractors — (*)13,118
Heavy construction
contractors — (*)14,249
Special trade contractors — (*)268
Manufacturing 3,554 71,068
Food and kindred products (*)194 (*)5,692
Tobacco manufactures — (*)199
Textile mill products — (*)16
Apparel and other textile
products — (*)494
Lumber and wood products — (*)15
Furniture and fixtures — (*)279
Paper and allied products — (*)386
Printing and publishing (*)7 (*)1,461
Industrial plastics and
synthetic materials (*)439 (*)7,852
Drugs — (*)5,183
Other chemicals — (*)4,883
Petroleum (including
integrated) and coal
products — (*)1,486
Rubber and miscellaneous
plastics products — (*)72
Leather and leather products — (*)7
Stone, clay, and glass
products — (*)1,793
Primary metal industries — (*)2,361
Fabricated metal products — (*)859
Office, computing, and
accounting machinery — (*)1,300
Other machinery, except
electrical (*)807 14,747
Electrical and electronic
equipment (*)1,139 5,809
Motor vehicles and equipment — (*)10,754
Transportation equipment,
except motor vehicles — (*)3,091
Instruments and related
products (*)968 (*)2,162
Miscellaneous manufacturing
and manufacturing not
allocable — (*)167
Transportation and public
utilities — 31,041
Transportation — 26,688
Water transportation — (*)14,635
All other transportation — 12,053
Communication — (*)1,154
Electric, gas, and sanitary
services — (*)3,199
Wholesale and retail trade (*)63 5,184
Wholesale trade (*)63 2,434
Groceries and related
products (*)63 (*)32
Machinery, equipment, and
supplies — (*)26
Miscellaneous wholesale
trade — 2,376
Drugs, chemicals, and
allied products — (*)911
Petroleum and
petroleum products — (*)12
Other miscellaneous
wholesale trade — (*)1,453
Retail trade — (*)2,750
Building materials,
garden supplies, and
mobile home dealers — —
General merchandise
stores — (*)1,046
Food stores — —
Automotive dealers and
service stations — —
Apparel and accessory
stores — (*)81
Furniture and home
furnishing stores — (*)64
Eating and drinking
places — —
All other retail stores — (*)1,559
Finance, Insurance, and real
estate (*)25 45,245
Banking — (*)3,106
Credit agencies other than
banks — (*)2,752
Security, commodity brokers,
and services — (*)6,449
Insurance — 25,218
Insurance agents, brokers,
and service — (*)979
Real estate (*)25 (*)302
Holding and other investment
companies, except bank
holding companies — (*)6,440
Services (*)836 90,526
Hotels and other lodging
places — (*)5,663
Personal services — (*)451
Business services (*)836 58,218
Auto repair; miscellaneous
repair services — (*)11
Amusement and recreation
services — (*)14,500
All other services — 11,684
Foreign income and taxes
reported on Form 1118
Foreign taxes available
for credit
Paid or
accrued
Other
taxes
paid or
accrued
on–
Major and selected minor Taxes
industrial groups deemed
Other paid
income
(51) (52)
All industries 3,436,247 26,791,812
Agriculture, forestry, and
fishing (*)406 (*)80,714
Mining 846,008 130,112
Metal mining (*)125,404 (*)30,662
Coal mining (*)251,860 (*)1,251
Oil and gas extraction 468,745 95,294
Nonmetallic minerals, except — (*)2,905
fuels
Construction (*)206 (*)127,756
General building contractors — (*)20,013
Heavy construction
contractors (*)206 (*)99,529
Special trade contractors — (*)8,214
Manufacturing 2,058,040 20,817,747
Food and kindred products 26,302 1,745,539
Tobacco manufactures (*)554 (*)1,015,263
Textile mill products (*)174 14,817
Apparel and other textile
products (*)582 (*)140,998
Lumber and wood products (*)147 (*)8,226
Furniture and fixtures — (*)23,757
Paper and allied products (*)1,122 837,452
Printing and publishing 29,409 275,573
Industrial plastics and
synthetic materials 30,005 1,243,056
Drugs 28,785 2,325,248
Other chemicals 8,168 735,254
Petroleum (including
integrated) and coal
products 1,745,317 4,159,021
Rubber and miscellaneous
plastics products (*)979 127,026
Leather and leather products — (*)777
Stone, clay, and glass
products (*)4,903 236,348
Primary metal industries (*)38,742 453,785
Fabricated metal products 42,207 406,000
Office, computing, and
accounting machinery (*)532 1,392,216
Other machinery, except
electrical 12,086 435,661
Electrical and electronic
equipment 54,294 1,700,855
Motor vehicles and equipment 23,312 1,955,743
Transportation equipment,
except motor vehicles (*)592 290,986
Instruments and related
products 8,585 1,106,607
Miscellaneous manufacturing
and manufacturing not
allocable (*)1,245 187,536
Transportation and public
utilities 42,527 230,693
Transportation 4,752 69,365
Water transportation (*)1,409 (*)10,222
All other transportation (*)3,343 59,142
Communication (*)33,689 (*)101,808
Electric, gas, and sanitary
services (*)4,087 59,520
Wholesale and retail trade 53,712 936,253
Wholesale trade 47,622 390,584
Groceries and related
products (*)17 (*)756
Machinery, equipment, and
supplies (*)1,310 10,269
Miscellaneous wholesale
trade 46,294 379,559
Drugs, chemicals, and
allied products (*)4,736 (*)6,315
Petroleum and
petroleum products (*)22,169 (*)95,080
Other miscellaneous
wholesale trade 19,390 278,165
Retail trade 6,090 545,668
Building materials,
garden supplies, and
mobile home dealers (*)151 —
General merchandise
stores (*)1,094 (*)142,465
Food stores — —
Automotive dealers and
service stations — —
Apparel and accessory
stores (*)1,606 (*)7,710
Furniture and home
furnishing stores — —
Eating and drinking
places (*)1,679 (*)365,760
All other retail stores (*)1,560 (*)29,733
Finance, Insurance, and real
estate 367,551 3,289,711
Banking 116,231 1,081,562
Credit agencies other than
banks (*)13,392 116,605
Security, commodity brokers,
and services 94,968 806,014
Insurance 129,689 594,420
Insurance agents, brokers,
and service (*)567 (*)102,806
Real estate (*)619 (*)11,077
Holding and other investment
companies, except bank
holding companies 12,083 577,226
Services 67,796 1,178,826
Hotels and other lodging
places (*)7,974 (*)35,610
Personal services — (*)24,913
Business services 53,513 924,307
Auto repair; miscellaneous
repair services (*)19 (*)467
Amusement and recreation
services (*)2,637 (*)66,704
All other services (*)3,654 126,825
(*) Data should be used with caution because of the small number of returns on which the,, were based.
(1) Interest Charge-Domestic International Sales Corporation (IC-DISC) and Domestic International Sales Corporation (DISC).
(2) In addition to the credits shown in columns 12-14, this is after reduction by other credits, such as the jobs credit and the investment credit, which are not shown separately in this table.
(3) Included in gross income (less loss), columns 16-22. See text for additional information.
(4) Included in deductions, columns 26-35. See text for additional information.
(5) Less than $500.
Although the amounts of “oil and gas income” and deductions (columns 23 and 36, respectively) are included in the summary columns (i.e., columns 16 through 22 and 26 through 35), these amounts are also reported separately (on Form 1118, Schedule I, Reduction of Oil and Gas Extraction Taxes) because oil and gas extraction income is subject to special rules under Internal Revenue Code section 907, which effectively requires a separate limitation calculation for taxes related to oil and gas extraction income. This may result in a reduction of foreign taxes available for credit. Reductions in creditable oil and gas extraction income taxes are included with several other types of reductions in column 41 of Table 1 and column 27 of Table 2.
Table 2.–U.S. Corporation Returns with a Foreign Tax Credit: Foreign Income and Tax Reported on Form 1118, by Industrial Division and Income Type
[All figures are estimates based on samples–money amounts are in thousands of dollars]
Foreign
income
and taxes
reported on
Form 1118
Gross
income
(less
loss)
Number
Industrial division and income type of
returns Total
(1) (2)
ALL INDUSTRIES
All Income types 6,100 331,078,563
Passive income 2,282 5,339,523
High withholding tax interest 317 1,801.18
Financial services income 388 91,085,476
Shipping income 53 12,991.993
Dividends from noncontrolled
section 902 corporations 552 3,622,878
Dividends from an IC-DISC or former
DISC(1) 10 (*)4,624
Income related to sections 904(g)
or 901(j) 34 93,009
Certain distributions from a FSC
or former FSC(2) 82 3,350,547
All other income from outside
the United States 3,820 212,789,336
AGRICULTURE, FORESTRY, AND FISHING
All Income types 187 451,268
Passive income 9 (*)30,445
High withholding tax interest — —
Financial services income 83 (*)199
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a
FSC or former FSC(2) (**) (**)
All other income from outside the
United States 95 407,693
MINING
All income types 123 7,434,377
Passive income 31 73,337
High withholding tax interest 7 (*)39,540
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 7 (*)22,375
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a
FSC or former FSC(2) — —
All other income from outside
the United States 106 7,285,398
CONSTRUCTION
All income types 155 2,038,420
Passive income 44 12,010
High withholding tax interest 4 (*)1,486
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 28 (*)10,337
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a FSC
or former FSC(2) (**) (**)
All other income from outside the
United States 89 2,000,581
MANUFACTURING
All income types 1,742 173,377,185
Passive income 610 3,641,530
High withholding tax interest 97 251,769
Financial services income 72 5,388,571
Shipping income 22 461,649
Dividends from noncontrolled
section 902 corporations 239 2,655,002
Dividends from an IC-DISC or former
DISC(1) 10 (*)4,624
Income related to sections 904(g)
or 901(j) 22 43,903
Certain distributions from a FSC or
former FSC(2) 61 2,930,821
All other income from outside the
United States 1,461 157,999,316
TRANSPORTATION AND PUBLIC UTILITIES
All income types 157 25,774,839
Passive income 68 96,730
High withholding tax interest 13 18,326
Financial services income 8 (*)69,080
Shipping income 18 12,460,444
Dividends from noncontrolled
section 902 corporations 18 58,994
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 108 12,901,472
WHOLESALE AND RETAIL TRADE
All income types 995 12,803,872
Passive income 512 303,797
High withholding tax interest 70 131,133
Financial services income 4 (*)2,064,444
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 44 76,938
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 477 10,027,194
FINANCE, INSURANCE, AND REAL ESTATE
All income types 1,649 89,842,449
Passive income 862 981,513
High withholding tax interest 101 1,336,967
Financial services income 192 83,504,994
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 175 719,219
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) 5 (*)111,006
All other income from outside the
United States 504 3,175,309
SERVICES
All income types 1,091 19,556,152
Passive income 145 200,161
High withholding tax interest 26 21,956
Financial services income 27 54,954
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 37 78,954
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) 13 (*)149,477
All other income from outside the
United States 980 18,992,373
Foreign income
and taxes
reported on
Form 1118
Gross income
(less loss)
Foreign
dividend
Industrial division and income type income
Dividends resulting
from foreign
taxes deem
paid
(gross-up)
(3) (4)
ALL INDUSTRIES
All Income types 62,621,960 26,714,995
Passive income 2,210,281 266,983
High withholding tax interest 37,306 24,167
Financial services income 9,733,764 3,322,731
Shipping income 198,863 33,450
Dividends from noncontrolled
section 902 corporations 2,431,219 1,123,148
Dividends from an IC-DISC or former
DISC(1) (*)4,624 —
Income related to sections 904(g)
or 901(j) 36,776 (*)3,061
Certain distributions from a FSC
or former FSC(2) 3,350,547 —
All other income from outside
the United States 44,618,581 21,941,455
AGRICULTURE, FORESTRY, AND FISHING
All Income types 125,187 (*)80,714
Passive income (*)648 (*)37
High withholding tax interest — —
Financial services income (*)199 —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a
FSC or former FSC(2) (**) (**)
All other income from outside the
United States (*)111,614 (*)80,472
MINING
All income types 361,131 130,112
Passive income 25,387 (*)1,261
High withholding tax interest (*)1,718 (*)1,507
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)21,397 (*)933
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a
FSC or former FSC(2) — —
All other income from outside
the United States 299,850 125,454
CONSTRUCTION
All income types 285,837 (*)127,756
Passive income (*)2,326 (*)79
High withholding tax interest — —
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)7,166 (*)4,125
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a FSC
or former FSC(2) (**) (**)
All other income from outside the
United States 262,448 (*)123,533
MANUFACTURING
All income types 47,179,226 20,797,867
Passive income 1,847,705 234,193
High withholding tax interest (*)11,007 (*)3,347
Financial services income 1,574,623 601,009
Shipping income 70,693 (*)13,189
Dividends from noncontrolled
section 902 corporations 1,740,510 880,464
Dividends from an IC-DISC or former
DISC(1) (*)4,624 —
Income related to sections 904(g)
or 901(j) (*)25,803 (*)2,993
Certain distributions from a FSC or
former FSC(2) 2,930,821 —
All other income from outside the
United States 38,973,440 19,032,632
TRANSPORTATION AND PUBLIC UTILITIES
All income types 911,852 230,893
Passive income 33,973 2,140
High withholding tax interest (*)196 (*)111
Financial services income (*)2,862 (*)1,567
Shipping income (*)120,032 (*)19,655
Dividends from noncontrolled
section 902 corporations 36,795 (*)13,734
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 584,406 193,487
WHOLESALE AND RETAIL TRADE
All income types 1,817,238 936,253
Passive income 55,291 6,192
High withholding tax interest (*)12,783 (*)4,405
Financial services income (*)332,777 (*)136,444
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 58,095 17,371
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,357,968 771,838
FINANCE, INSURANCE, AND REAL ESTATE
All income types 9,898,422 3,282,854
Passive income 160,686 12,306
High withholding tax interest (*)11,602 (*)14,797
Financial services income 7,795,642 2,582,059
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 510,763 183,770
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)111,006 —
All other income from outside the
United States 1,101,115 469,337
SERVICES
All income types 2,243,070 1,178,746
Passive income 84,265 10,776
High withholding tax interest — —
Financial services income (*)25,375 (*)663
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 55,618 22,547
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)149,477 —
All other income from outside the
United States 1,927,739 1,144,691
Foreign income
and taxes
reported on
Form 1118
Gross income
(less loss)
Industrial division and income type Rents,
Interest royalties,
and
license
fees
(5) (6)
ALL INDUSTRIES
All Income types 56,197,146 45,127,226
Passive income 1,954,546 237,488
High withholding tax interest 1,739,703 —
Financial services income 46,320,659 1,639,406
Shipping income 60,024 321,125
Dividends from noncontrolled
section 902 corporations 16,839 1,451
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)16,036 (*)1,532
Certain distributions from a FSC
or former FSC(2) — —
All other income from outside
the United States 6,089,339 42,926,224
AGRICULTURE, FORESTRY, AND FISHING
All Income types (*)20,435 (*)24,079
Passive income (*)11,007 —
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a
FSC or former FSC(2)
All other income from outside the
United States (*)9,428 (*)24,079
MINING
All income types 248,704 104,357
Passive income 43,165 (*)1,024
High withholding tax interest (*)36,315 —
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)45 —
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a
FSC or former FSC(2) — —
All other income from outside
the United States 169,179 103,333
CONSTRUCTION
All income types 12,990 11,130
Passive income (*)7,447 —
High withholding tax interest (*)1,486 —
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a FSC
or former FSC(2) (**) (**)
All other income from outside the
United States 4,058 (*)11,019
MANUFACTURING
All income types 7,852,821 30,863,256
Passive income 1,118,876 160,067
High withholding tax interest 237,414 —
Financial services income 1,703,083 (*)401,843
Shipping income (*)33,491 (*)182,563
Dividends from noncontrolled
section 902 corporations 4,639 (*)1,254
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)15,900 —
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 4,739,417 30,117,528
TRANSPORTATION AND PUBLIC UTILITIES
All income types 331,882 1,452,033
Passive income 24,385 (*)2,638
High withholding tax interest 18,019 —
Financial services income (*)24,855 (*)18,446
Shipping income (*)18,804 (*)97,742
Dividends from noncontrolled
section 902 corporations (*)728 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 244,957 1,333,208
WHOLESALE AND RETAIL TRADE
All income types 1,662,167 1,253,371
Passive income 113,097 46,391
High withholding tax interest 113,946 —
Financial services income (*)1,066,718 (*)3,496
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)1,469 (*)4
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 366,938 1,203,480
FINANCE, INSURANCE, AND REAL ESTATE
All income types 45,883,318 1,282,097
Passive income 555,710 14,437
High withholding tax interest 1,310,567 —
Financial services income 43,508,796 1,213,370
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)9,040 (*)162
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 293,956 54,127
SERVICES
All income types 384,829 10,136,904
Passive income 80,860 12,931
High withholding tax interest 21,956 —
Financial services income (*)17,207 (*)2,250
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)918 (*)31
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 261,407 10,079,450
Foreign income
and taxes
reported on
Form 1118
Gross income
(less loss)
Industrial division and income type
Service Other
income income
(7) (8)
ALL INDUSTRIES
All Income types 28,536,992 111,880,244
Passive income (*)20,142 650,084
High withholding tax interest — —
Financial services income 8,799,775 21,269,141
Shipping income 7,487,809 4,890,722
Dividends from noncontrolled
section 902 corporations (*)346 49,874
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)10 35,595
Certain distributions from a FSC
or former FSC(2) — —
All other income from outside
the United States 12,228,910 84,984,827
AGRICULTURE, FORESTRY, AND FISHING
All Income types — (*)200,854
Passive income — (*)18,754
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a
FSC or former FSC(2) (**) (**)
All other income from outside the
United States — (*)182,099
MINING
All income types 1,530,404 5,059,670
Passive income — (*)2,501
High withholding tax interest — —
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a
FSC or former FSC(2) — —
All other income from outside
the United States 1,530,404 5,057,169
CONSTRUCTION
All income types 1,571,354 29,353
Passive income — (*)2,158
High withholding tax interest — —
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)-974
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a FSC
or former FSC(2) (**) (**)
All other income from outside the
United States 1,571,354 28,168
MANUFACTURING
All income types 3,613,995 63,100,021
Passive income (*)1,859 278,830
High withholding tax interest — —
Financial services income (*)3,248 1,100,723
Shipping income (*)94,091 67,623
Dividends from noncontrolled
section 902 corporations — 28,135
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)10 (*)-802
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 3,514,787 61,621,512
TRANSPORTATION AND PUBLIC UTILITIES
All income types 8,353,511 14,494,867
Passive income — (*)33,594
High withholding tax interest
Financial services income (*)16,679 (*)4,671
Shipping income 7,393,718 (*)4,810,494
Dividends from noncontrolled
section 902 corporations — (*)7,736
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 943,115 9,602,300
WHOLESALE AND RETAIL TRADE
All income types 293,189 6,641,857
Passive income — (*)82,827
High withholding tax interest — —
Financial services income — (*)525,009
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 293,189 6,033,780
FINANCE, INSURANCE, AND REAL ESTATE
All income types 9,304,827 20,811,230
Passive income (*)11,735 226,639
High withholding tax interest — —
Financial services income 8,778,027 19,627,100
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)346 (*)15,138
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 514,420 742,353
SERVICES
All income types 3,870,011 1,742,562
Passive income (*)6,548 4,781
High withholding tax interest — —
Financial services income (*)1,822 (*)7,637
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)-161
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 3,861,641 1,717,445
Foreign income
and taxes
reported on
Form 1118
Oil and
Industrial division and income type gas
extraction
income Foreign
(less branch
loss)(3) income(3)
(9) (10)
ALL INDUSTRIES
All Income types 22,073,603 75,499,359
Passive income — 137,482
High withholding tax interest — (*)289,986
Financial services income — 38,537,482
Shipping income — (*)825,914
Dividends from noncontrolled
section 902 corporations — (*)11,165
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — (*)328
Certain distributions from a FSC
or former FSC(2) — —
All other income from outside
the United States 22,073,503 35,697,003
AGRICULTURE, FORESTRY, AND FISHING
All Income types — (*)3,346
Passive income — —
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a
FSC or former FSC(2) (**) (**)
All other income from outside the
United States — (*)3,346
MINING
All income types 2,462,356 1,626,846
Passive income — (*)11,022
High withholding tax interest — —
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a
FSC or former FSC(2) — —
All other income from outside
the United States 2,462,356 1,514,824
CONSTRUCTION
All income types — (*)18,518
Passive income — —
High withholding tax interest — —
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a FSC
or former FSC(2) (**) (**)
All other income from outside the
United States — (*)18,518
MANUFACTURING
All income types 19,462,765 29,497,116
Passive income — 101,008
High withholding tax interest — (*)163
Financial services income — (*)487,300
Shipping income — (*)15,348
Dividends from noncontrolled
section 902 corporations — (*)9,927
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 19,462,765 28,883,371
TRANSPORTATION AND PUBLIC UTILITIES
All income types (*)97,909 1,508,962
Passive income — (*)912
High withholding tax interest — (*)29
Financial services income — (*)979
Shipping income — (*)809,897
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)97,909 697,144
WHOLESALE AND RETAIL TRADE
All income types — 2,378,382
Passive income — (*)525
High withholding tax interest — (*)11
Financial services income — (*)113,723
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States — 2,260,794
FINANCE, INSURANCE, AND REAL ESTATE
All income types (*)50,473 38,366,308
Passive income — (*)1,190
High withholding tax interest — (*)289,783
Financial services income — 37,929,682
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)1,190
Dividends from an IC-DISC or former
DISC(1) —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States (*)50,473 144,464
SERVICES
All income types — 2,203,882
Passive income — (*)22,825
High withholding tax interest — —
Financial services income — (*)5,798
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)47
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States — 2,174,542
Foreign income
and taxes
reported on
Form 1118
Deductions
Specifically
Industrial division and income type allocable
income Total
[section
863 (b)](3)
(11) (12)
ALL INDUSTRIES
All Income types 27,442,900 180,252,217
Passive income 8,605 1,567,855
High withholding tax interest (*)60,689 714,873
Financial services income (*)2,837,549 60,918,131
Shipping income (*)4,632,002 11,735,401
Dividends from noncontrolled
section 902 corporations (*)27,940 575,079
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — 21,833
Certain distributions from a FSC
or former FSC(2) — 3,320,900
All other income from outside
the United States 19,876,115 101,398,146
AGRICULTURE, FORESTRY, AND FISHING
All Income types (*)23,441 (*)157,071
Passive income — (*)2,674
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a
FSC or former FSC(2) (**) (**)
All other income from outside the
United States (*)23,441 (*)142,516
MINING
All income types (*)227,702 4,358,129
Passive income — 24,331
High withholding tax interest — (*)3,649
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)5,746
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a
FSC or former FSC(2) — —
All other income from outside
the United States (*)227,702 4,324,085
CONSTRUCTION
All income types (*)1,853 1,432,678
Passive income — (*)1,308
High withholding tax interest — (*)85
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)303
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a FSC
or former FSC(2) (**) (**)
All other income from outside the
United States (*)1,853 1,417,010
MANUFACTURING
All income types 18,229,264 73,719,774
Passive income (*)6,790 1,093,050
High withholding tax interest — 64,463
Financial services income — 2,393,497
Shipping income — 405,473
Dividends from noncontrolled
section 902 corporations (*)855 374,857
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — 18,710
Certain distributions from a FSC or
former FSC(2) — 2,929,407
All other income from outside the
United States 18,221,619 66,440,317
TRANSPORTATION AND PUBLIC UTILITIES
All income types 4,786,644 21,807,501
Passive income (*)39 58,341
High withholding tax interest — (*)4,754
Financial services income — (*)52,720
Shipping income (*)4,632,002 11,247,543
Dividends from noncontrolled
section 902 corporations — 24,311
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 154,603 10,283,479
WHOLESALE AND RETAIL TRADE
All income types 321,383 7,581,111
Passive income (*)618 112,596
High withholding tax interest (*)66 31,586
Financial services income — (*)1,282,820
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — 17,191
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 320,669 6,132,110
FINANCE, INSURANCE, AND REAL ESTATE
All income types 2,981,923 59,551,857
Passive income (*)763 192,913
High withholding tax interest (*)60,623 598,557
Financial services income (*)2,1337,549 57,158,073
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)25,721 129,788
Dividends from an IC-DISC or former
DISC(1)
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — (*)80,546
All other income from outside the
United States (*)57,268 1,391,947
SERVICES
All income types 870,720 11,644,095
Passive income (*)395 82,641
High withholding tax interest — 11,779
Financial services income — 30,731
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)1,364 22,873
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — (*)151,705
All other income from outside the
United States 868,961 11,266,682
Foreign income
and taxes
reported on
Form 1118
Deductions
Deductions allocable
to specific types
of income
Rental,
royalty and
licensing
expenses
Industrial division and income type
Deprecia-
tion,
Total depletion,
and
amortization
(13) (14)
ALL INDUSTRIES
All Income types 91,896,475 1,398,793
Passive income 287,622 6,092
High withholding tax interest 91,753 —
Financial services income 20,568,569 427,029
Shipping income 10,374,066 (*)144,558
Dividends from noncontrolled
section 902 corporations -55,913 (*)49
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)1,512 —
Certain distributions from a FSC
or former FSC(2) 3,307,487 —
All other income from outside
the United States 57,321,380 821,064
AGRICULTURE, FORESTRY, AND FISHING
All Income types (*)103,257 —
Passive income — —
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a
FSC or former FSC(2) (**) (**)
All other income from outside the
United States (*)91,387 —
MINING
All income types 3,641,828 32,740
Passive income (*)13,938 (*)2
High withholding tax interest (*)2,471 —
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)305 —
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a
FSC or former FSC(2) — —
All other income from outside
the United States 3,624,965 32,738
CONSTRUCTION
All income types 1,384,323 (*)344
Passive income (*)193 —
High withholding tax interest — —
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)115 —
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a FSC
or former FSC(2) (**) (**)
All other income from outside the
United States 1,370,053 (*)227
MANUFACTURING
All income types 38,268,158 227,380
Passive income 85,454 (*)495
High withholding tax interest 32,720
Financial services income 1,226,680 (*)7,826
Shipping income 282,201 —
Dividends from noncontrolled
section 902 corporations 2,343 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)1,194 —
Certain distributions from a FSC or
former FSC(2) 2,928,794 —
All other income from outside the
United States 33,708,772 219,059
TRANSPORTATION AND PUBLIC UTILITIES
All income types 15,182,848 390,514
Passive income 24,207 —
High withholding tax interest (*)30 —
Financial services income (*)14,425 —
Shipping income 10,030,111 (*)94,668
Dividends from noncontrolled
section 902 corporations (*)3,289 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 4,977,199 (*)295,846
WHOLESALE AND RETAIL TRADE
All income types 5,500,646 11,822
Passive income 19,896 (*)2,140
High withholding tax interest (*)12,333 —
Financial services income (*)482,423 —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)4,737 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 4,980,702 9,682
FINANCE, INSURANCE, AND REAL ESTATE
All income types 20,046,027 424,700
Passive income 129,348 (*)2,142
High withholding tax interest 43,219
Financial services income 18,836,046 419,202
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations -69,199 (*)49
Dividends from an IC-DISC or former
DISC(1)
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)71,589 —
All other income from outside the
United States 1,035,024 (*)3,307
SERVICES
All income types 7,769,388 311,291
Passive income 14,587 (*)1,312
High withholding tax interest (*)979 —
Financial services income (*)8,845 (*)1
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)2,498 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)147,860 —
All other income from outside the
United States 7,533,278 260,205
Foreign income
and taxes
reported on
Form 1118
Deductions
Deductions allocable
to specific types
of income
Rental,
royalty and
licensing
expenses
Industrial division and income type
Service
expenses
Other
(15) (16)
ALL INDUSTRIES
All Income types 6,341,066 12,567,040
Passive income 21,223 9,678
High withholding tax interest — —
Financial services income 1,387,737 505,651
Shipping income 210,886 (*)4,409,949
Dividends from noncontrolled
section 902 corporations (*)-2,972 (*)282
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC
or former FSC(2) — —
All other income from outside
the United States 4,724,182 7,631,481
AGRICULTURE, FORESTRY, AND FISHING
All Income types (*)4,327 —
Passive income — —
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a
FSC or former FSC(2) (**) (**)
All other income from outside the
United States (*)4,327 —
MINING
All income types (*)25,055 (*)965,385
Passive income (*)606 —
High withholding tax interest — —
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a
FSC or former FSC(2) — —
All other income from outside
the United States (*)24,449 (*)965,385
CONSTRUCTION
All income types (*)1,047 1,349,263
Passive income — —
High withholding tax interest — —
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or
former DISC(1) — —
Income related to sections
904(g) or 901(j) (**) (**)
Certain distributions from a FSC
or former FSC(2) (**) (**)
All other income from outside the
United States (*)987 1,349,263
MANUFACTURING
All income types 2,009,134 1,878,048
Passive income 5,916 (*)4,952
High withholding tax interest
Financial services income (*)10,688 —
Shipping income (*)12,975 (*)2,955
Dividends from noncontrolled
section 902 corporations (*)126 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,979,430 1,870,141
TRANSPORTATION AND PUBLIC UTILITIES
All income types 297,757 5,054,410
Passive income — —
High withholding tax interest — —
Financial services income — (*)13,273
Shipping income (*)197,851 (*)4,406,979
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 99,905 634,158
WHOLESALE AND RETAIL TRADE
All income types 268,570 103,417
Passive income (*)9,372 (*)46
High withholding tax interest — —
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 259,199 103,370
FINANCE, INSURANCE, AND REAL ESTATE
All income types 1,561,553 701,672
Passive income 3,308 *3,684
High withholding tax interest
Financial services income 1,375,909 491,025
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)-3,098 (*)257
Dividends from an IC-DISC or former
DISC(1)
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 185,434 206,706
SERVICES
All income types 2,173,612 2,504,847
Passive income (*)2,021 (*)996
High withholding tax interest — —
Financial services income (*)1,141 (*)1,353
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)25
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 2,170,451 2,502,459
Foreign income and taxes
reported on Form 1118
Deductions
Deductions
not allocable
to specific
Industrial division and income type Other types of
deductions income
allocable
to specific
types of Total
income
(17) (18)
ALL INDUSTRIES
All income types 71,599,587 88,355,742
Passive income 250,628 1,280,233
High withholding tax interest 91,753 623,120
Financial services income 18,248,152 40,349,562
Shipping income 5,608,673 1,361,335
Dividends from noncontrolled
section 902 corporations -53,271 630,992
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)1,512 20,321
Certain distributions from a FSC or
former FSC(2) 3,307,487 (*)13,414
All other income from outside the
United States 44,144,653 44,076,767
AGRICULTURE, FORESTRY, AND FISHING
All income types (*)98,929 (*)53,814
Passive income — (*)2,674
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)87,059 (*)51,129
MINING
All income types 2,618,649 716,301
Passive income (*)13,329 10,394
High withholding tax interest (*)2,471 (*)1,177
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)305 (*)5,441
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 2,602,393 699,120
CONSTRUCTION
All income types 33,670 48,365
Passive income (*)193 (*)1,115
High withholding tax interest — (*)85
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)115 (*)188
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 19,576 46,956
MANUFACTURING
All income types 34,153,595 35,451,616
Passive income 74,091 1,007,596
High withholding tax interest 32,720 31,743
Financial services income 1,208,167 1,166,817
Shipping income 266,270 123,272
Dividends from noncontrolled
section 902 corporations 2,217 372,515
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)1,194 17,517
Certain distributions from a FSC or
former FSC(2) 2,928,794 (*)612
All other income from outside the
United States 29,640,143 32,731,645
TRANSPORTATION AND PUBLIC UTILITIES
All income types 9,440,167 6,624,654
Passive income 24,207 34,134
High withholding tax interest (*)30 (*)4,723
Financial services income (*)1,152 (*)38,295
Shipping income (*)5,330,612 1,217,432
Dividends from noncontrolled
section 902 corporations (*)3,289 21,022
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 3,947,289 5,306,281
WHOLESALE AND RETAIL TRADE
All income types 5,116,837 2,080,465
Passive income 8,338 92,700
High withholding tax interest (*)12,333 19,253
Financial services income (*)482,423 (*)800,397
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)4,737 12,454
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 4,608,450 1,151,409
FINANCE, INSURANCE, AND REAL ESTATE
All income types 17,358,102 39,506,830
Passive income 120,213 63,565
High withholding tax interest 43,219 555,338
Financial services income 16,549,910 38,322,027
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations -66,407 198,987
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)71,589 (*)8,956
All other income from outside the
United States 639,578 356,923
SERVICES
All income types 2,779,638 3,874,707
Passive income 10,257 68,055
High withholding tax interest (*)979 (*)10,800
Financial services income (*)6,350 (*)21,885
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)2,474 20,374
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)147,860 (*)3,845
All other income from outside the
United States 2,600,163 3,733,404
Foreign income and taxes
reported on Form 1118
Deductions
Deductions not allocable to
Industrial division and income type specific types of income
Research
and Interest
development
(19) (20)
ALL INDUSTRIES
All income types 9,232,584 35,536,186
Passive income 103,227 760,349
High withholding tax interest 609 439,650
Financial services income 36,005 22,521,147
Shipping income (*)8,239 209,898
Dividends from noncontrolled
section 902 corporations 34,835 384,191
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)1,641 17,149
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 9,048,029 11,203,801
AGRICULTURE, FORESTRY, AND FISHING
All income types (*)22,388 (*)12,424
Passive income — (*)1,376
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)22,388 (*)11,045
MINING
All income types (*)28,646 184,390
Passive income (*)171 4,669
High withholding tax interest — (*)805
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)5 (*)2,499
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States (*)28,470 176,362
CONSTRUCTION
All income types (*)468 (*)7,693
Passive income — (*)255
High withholding tax interest — (*)36
Financial services income —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)164
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)468 (*)7,238
MANUFACTURING
All income types 7,811,540 11,129,424
Passive income 101,961 623,040
High withholding tax interest 469 16,112
Financial services income 18,840 952,179
Shipping income (*)2,151 89,249
Dividends from noncontrolled
section 902 corporations 34,563 245,078
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)196 17,122
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 7,653,359 9,186,645
TRANSPORTATION AND PUBLIC UTILITIES
All income types 312,900 737,028
Passive income (*)215 29,988
High withholding tax interest (*)124 (*)4,543
Financial services income (*)2,002 (*)14,669
Shipping income (*)6,088 105,764
Dividends from noncontrolled
section 902 corporations (*)4 19,100
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)303,022 562,936
WHOLESALE AND RETAIL TRADE
All income types 3,548 1,515,266
Passive income (*)284 42,443
High withholding tax interest — 15,780
Financial services income — (*)795,443
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)202 10,815
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 3,061 646,534
FINANCE, INSURANCE, AND REAL ESTATE
All income types (*)15,939 21,279,488
Passive income — 9,672
High withholding tax interest (*)15 392,021
Financial services income (*)15,122 20,746,427
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — 89,029
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States (*)802 42,320
SERVICES
All income types 1,037,155 670,472
Passive income (*)595 48,905
High withholding tax interest — (*)10,352
Financial services income (*)40 (*)12,402
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)61 17,504
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,036,459 570,720
Foreign income and taxes
reported on Form 1118
Deductions
Deductions
not allocable
Industrial division and income type to specific
types of Deductions
income from oil
and gas
extraction
Other income(4)
(21) (22)
ALL INDUSTRIES
All income types 41,326,284 7,428,558
Passive income 355,995 —
High withholding tax interest 180,697 —
Financial services income 16,235,351 —
Shipping income 1,143,184 —
Dividends from noncontrolled
section 902 corporations 205,419 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)1,530 —
Certain distributions from a FSC or
former FSC(2) (*)13,414 —
All other income from outside the
United States 23,190,694 7,428,558
AGRICULTURE, FORESTRY, AND FISHING
All income types (*)19,002 —
Passive income (*)1,297 —
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)17,696 —
MINING
All income types 498,967 868,345
Passive income (*)4,999 —
High withholding tax interest (*)372 —
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)2,936 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 490,544 868,345
CONSTRUCTION
All income types 33,623 —
Passive income (*)681 —
High withholding tax interest (*)48 —
Financial services income
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)24 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)32,859 —
MANUFACTURING
All income types 16,068,492 6,485,088
Passive income 261,417 —
High withholding tax interest 14,921 —
Financial services income 195,798 —
Shipping income 31,873 —
Dividends from noncontrolled
section 902 corporations 91,247 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)198 —
Certain distributions from a FSC or
former FSC(2) (*)612 —
All other income from outside the
United States 15,472,425 6,485,088
TRANSPORTATION AND PUBLIC UTILITIES
All income types 5,570,089 (*)73,170
Passive income 3,931 —
High withholding tax interest (*)56 —
Financial services income (*)21,537 —
Shipping income (*)1,105,566 —
Dividends from noncontrolled
section 902 corporations (*)1,918 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 4,435,787 (*)73,170
WHOLESALE AND RETAIL TRADE
All income types 513,866 —
Passive income 39,667 —
High withholding tax interest 2,491 —
Financial services income (*)4,954 —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)646 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 466,207 —
FINANCE, INSURANCE, AND REAL ESTATE
All income types 16,592,139 (*)1,955
Passive income 30,412 —
High withholding tax interest 162,417 —
Financial services income 16,003,505 —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 106,096 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)8,956 —
All other income from outside the
United States 280,736 (*)1,955
SERVICES
All income types 2,030,007 —
Passive income 13,590 —
High withholding tax interest (*)391 —
Financial services income (*)9,443 —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 2,543 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)3,845 —
All other income from outside the
United States 1,994,439 —
Foreign income and taxes
reported on Form 1118
Taxable
Industrial division and income type income Adjustments
(less loss) to taxable
before income
adjustments
(23) (24)
ALL INDUSTRIES
All income types 150,826,345 5,235,512
Passive income 3,771,668 182,164
High withholding tax interest 1,086,304 91,658
Financial services income 30,167,345 1,344,757
Shipping income 1,256,592 78,080
Dividends from noncontrolled
section 902 corporations 3,047,800 -52,670
Dividends from an IC-DISC or former
DISC(1) (*)4,624 (*)207
Income related to sections 904(g)
or 901(j) 71,176 -7,808
Certain distributions from a FSC or
former FSC(2) 29,647 -4,300
All other income from outside the
United States 111,391,190 3,603,423
AGRICULTURE, FORESTRY, AND FISHING
All income types 294,197 (*)1,149
Passive income (*)27,772 (*)-7
High withholding tax interest — —
Financial services income (*)199 —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 265,177 (*)1,157
MINING
All income types 3,076,248 175,459
Passive income 49,006 (*)-236
High withholding tax interest (*)35,892 (*)8
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)16,629 (*)13
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 2,961,313 171,503
CONSTRUCTION
All income types 605,741 (*)1,108
Passive income 10,702 (*)-56
High withholding tax interest (*)1,401 (*)69
Financial services income
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)10,034 (*)-980
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 583,571 (*)2,076
MANUFACTURING
All income types 99,657,411 3,262,098
Passive income 2,548,480 172,918
High withholding tax interest 187,306 3,877
Financial services income 2,995,074 71,569
Shipping income 56,176 -11,136
Dividends from noncontrolled
section 902 corporations 2,280,144 -39,086
Dividends from an IC-DISC or former
DISC(1) (*)4,624 (*)207
Income related to sections 904(g)
or 901(j) 25,193 -12,535
Certain distributions from a FSC or
former FSC(2) (*)1,414 -532
All other income from outside the
United States 91,558,999 3,076,817
TRANSPORTATION AND PUBLIC UTILITIES
All income types 3,967,338 213,035
Passive income 38,389 -5,899
High withholding tax interest 13,572 (*)-36
Financial services income (*)16,360 (*)1,165
Shipping income 1,212,901 (*)115,224
Dividends from noncontrolled
section 902 corporations 34,683 -2,445
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 2,617,993 104,529
WHOLESALE AND RETAIL TRADE
All income types 5,022,761 173,569
Passive income 191,201 12,781
High withholding tax interest 99,547 (*)23,273
Financial services income (*)781,624 (*)72,037
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 59,747 -3,373
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 3,895,084 73,629
FINANCE, INSURANCE, AND REAL ESTATE
All income types 30,290,592 1,226,961
Passive income 788,600 -6,108
High withholding tax interest 738,410 65,094
Financial services income 26,346,922 1,201,542
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 589,432 -3,837
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)30,461 (*)78
All other income from outside the
United States 1,783,361 -29,809
SERVICES
All income types 7,912,057 182,141
Passive income 117,520 8,772
High withholding tax interest 10,177 (*)-626
Financial services income 24,223 (*)-1,555
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 56,081 -2,962
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)2,228 (*)-3,846
All other income from outside the
United States 7,725,692 203,521
Foreign income and taxes
reported on Form 1118
Foreign taxes
available
Taxable for credit
Industrial division and income type income
(less loss) Total
after
adjustments
(25) (26)
ALL INDUSTRIES
All income types 145,590,834 48,085,447
Passive income 3,589,504 511,692
High withholding tax interest 994,646 364,612
Financial services income 28,822,587 6,948,549
Shipping income 1,178,512 101,867
Dividends from noncontrolled
section 902 corporations 3,100,470 1,665,957
Dividends from an IC-DISC or former
DISC(1) (*)4,416 —
Income related to sections 904(g)
or 901(j) 78,984 12,248
Certain distributions from a FSC or
former FSC(2) 33,947 —
All other income from outside the
United States 107,787,767 38,480,522
AGRICULTURE, FORESTRY, AND FISHING
All income types 293,048 93,607
Passive income (*)27,778 (*)44
High withholding tax interest — —
Financial services income (*)199 (*)8
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 264,020 93,311
MINING
All income types 2,900,789 1,478,532
Passive income 49,242 7,080
High withholding tax interest (*)35,884 (*)8,279
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)16,616 (*)5,350
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 2,789,810 1,449,764
CONSTRUCTION
All income types 604,633 214,161
Passive income 10,758 1,471
High withholding tax interest (*)1,332 (*)239
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)11,014 (*)6,272
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 581,495 206,160
MANUFACTURING
All income types 96,356,313 35,004,424
Passive income 2,375,562 420,617
High withholding tax interest 183,429 39,131
Financial services income 2,923,505 914,374
Shipping income 67,313 (*)22,864
Dividends from noncontrolled
section 902 corporations 2,319,230 1,271,350
Dividends from an IC-DISC or former
DISC(1) (*)4,416 —
Income related to sections 904(g)
or 901(j) 37,729 (*)3,205
Certain distributions from a FSC or
former FSC(2) (*)1,946 —
All other income from outside the
United States 88,482,183 32,332,884
TRANSPORTATION AND PUBLIC UTILITIES
All income types 3,754,303 522,968
Passive income 44,288 4,272
High withholding tax interest 13,608 2,313
Financial services income (*)15,195 (*)2,048
Shipping income 1,097,677 78,395
Dividends from noncontrolled
section 902 corporations 37,128 (*)23,051
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 2,513,465 411,385
WHOLESALE AND RETAIL TRADE
All income types 4,849,202 1,511,164
Passive income 178,419 17,455
High withholding tax interest 76,274 16,965
Financial services income (*)709,587 (*)196,044
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 63,120 24,816
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 3,821,454 1,255,622
FINANCE, INSURANCE, AND REAL ESTATE
All income types 29,063,631 7,102,084
Passive income 794,708 39,131
High withholding tax interest 673,315 295,044
Financial services income 25,145,380 5,832,945
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 593,268 293,940
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) 30,382 —
All other income from outside the
United States 1,813,170 640,422
SERVICES
All income types
Passive income 7,729,918 2,158,508
High withholding tax interest 108,748 21,622
Financial services income 10,803 2,642
Shipping income (*)25,778 (*)2,182
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) 59,043 40,935
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (*)1,618 —
All other income from outside the
United States 7,522,171 2,090,975
Foreign income and taxes
reported on Form 1118
Foreign taxes available
for credit
Industrial division and income type
Reduction
for certain Carryover
foreign
taxes
(27) (28)
ALL INDUSTRIES
All income types 1,772,035 8,680,079
Passive income (*)91 50,045
High withholding tax interest — 135,343
Financial services income (*)53 610,496
Shipping income — (*)28,846
Dividends from noncontrolled
section 902 corporations (*)247 412,984
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)3,558 (*)1,655
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,768,086 7,440,710
AGRICULTURE, FORESTRY, AND FISHING
All income types — (*)844
Passive income — —
High withholding tax interest — —
Financial services income — (*)8
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States — (*)817
MINING
All income types 456,676 561,488
Passive income — (*)2,473
High withholding tax interest — (*)1,939
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)1,364
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 453,132 555,712
CONSTRUCTION
All income types — 14,579
Passive income — —
High withholding tax interest — —
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)1,062
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States — 13,517
MANUFACTURING
All income types 1,310,611 6,893,400
Passive income (*)90 39,972
High withholding tax interest — 5,558
Financial services income — (*)171,848
Shipping income — (*)8,829
Dividends from noncontrolled
section 902 corporations (*)247 326,061
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)14 (*)33
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,310,260 6,341,098
TRANSPORTATION AND PUBLIC UTILITIES
All income types (*)3,627 85,879
Passive income — (*)685
High withholding tax interest — (*)228
Financial services income — (*)45
Shipping income — (*)20,017
Dividends from noncontrolled
section 902 corporations — (*)3,465
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)3,927 59,936
WHOLESALE AND RETAIL TRADE
All income types — 127,866
Passive income — 2,670
High withholding tax interest — (*)772
Financial services income — (*)59
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)6,420
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States — 117,844
FINANCE, INSURANCE, AND REAL ESTATE
All income types (*)821 739,504
Passive income (*)1 1,798
High withholding tax interest — 126,329
Financial services income (*)53 438,093
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — 58,280
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States (*)767 114,986
SERVICES
All income types
Passive income — 256,519
High withholding tax interest — 2,446
Financial services income — (*)517
Shipping income — (*)442
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — 16,313
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States — 236,801
Foreign income and taxes
reported on Form 1118
Foreign taxes available
Industrial division and income type for credit
Paid or
Total accrued
paid,
accrued,
and deemed Total
paid
(29) (30)
ALL INDUSTRIES
All income types 41,177,403 14,365,591
Passive income 461,738 186,992
High withholding tax interest 229,269 204,927
Financial services income 6,338,106 2,960,498
Shipping income 73,022 39,571
Dividends from noncontrolled
section 902 corporations 1,253,220 129,740
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) 14,151 (*)11,009
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 32,807,898 10,852,854
AGRICULTURE, FORESTRY, AND FISHING
All income types 92,764 12,050
Passive income (*)44 (*)8
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 92,495 12,022
MINING
All income types 1,373,720 1,243,607
Passive income 4,606 3,346
High withholding tax interest (*)6,340 (*)4,833
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)3,985 (*)3,052
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,347,184 1,221,720
CONSTRUCTION
All income types 199,582 71,826
Passive income 1,471 1,392
High withholding tax interest (*)239 (*)239
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)5,210 (*)1,085
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 192,643 69,110
MANUFACTURING
All income types 29,421,635 8,603,888
Passive income 380,734 138,780
High withholding tax interest 33,573 30,050
Financial services income 742,526 113,080
Shipping income (*)14,035 (*)846
Dividends from noncontrolled
section 902 corporations 945,536 65,109
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)3,186 (*)194
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 27,302,045 8,255,828
TRANSPORTATION AND PUBLIC UTILITIES
All income types 441,016 210,323
Passive income 3,588 1,448
High withholding tax interest 2,085 1,974
Financial services income (*)2,002 (*)435
Shipping income 58,379 38,724
Dividends from noncontrolled
section 902 corporations 19,587 (*)5,853
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 355,375 161,889
WHOLESALE AND RETAIL TRADE
All income types 1,383,298 447,046
Passive income 14,784 8,593
High withholding tax interest 16,193 11,788
Financial services income (*)195,985 (*)59,541
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 18,396 1,025
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,137,778 365,940
FINANCE, INSURANCE, AND REAL ESTATE
All income types 6,363,401 3,073,690
Passive income 37,334 25,026
High withholding tax interest 168,714 153,917
Financial services income 5,394,905 2,786,364
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 235,660 51,521
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 526,203 56,861
SERVICES
All income types
Passive income 1,901,988 723,161
High withholding tax interest 19,176 8,400
Financial services income 2,125 2,125
Shipping income (*)1,740 (*)1,077
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) 24,621 2,074
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,854,175 709,484
Foreign income and taxes
reported on Form 1118
Foreign taxes available
for credit
Industrial division and income type Taxes Taxes withheld
withheld at at source on–
source on
dividends Interest
(31) (32)
ALL INDUSTRIES
All income types 2,543,654 540,763
Passive income 92,815 21,487
High withholding tax interest (*)2,334 202,593
Financial services income 280,921 131,480
Shipping income (*)701 (*)404
Dividends from noncontrolled
section 902 corporations 126,859 (*)104
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)189 —
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 2,039,835 184,695
AGRICULTURE, FORESTRY, AND FISHING
All income types (*)3,634 (*)622
Passive income (*)6 (*)2
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)3,608 (*)620
MINING
All income types 68,695 14,078
Passive income (*)266 (*)1,291
High withholding tax interest — (*)4,833
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)1,640 (*)5
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States (*)66,789 7,949
CONSTRUCTION
All income types 13,676 (*)771
Passive income (*)1,099 (*)266
High withholding tax interest — (*)239
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)1,085 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)11,492 (*)267
MANUFACTURING
All income types 1,941,938 239,590
Passive income 74,690 13,956
High withholding tax interest (*)1,925 28,126
Financial services income (*)35,587 (*)51,226
Shipping income (*)700 (*)27
Dividends from noncontrolled
section 902 corporations 64,512 (*)14
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)189 —
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,764,335 146,241
TRANSPORTATION AND PUBLIC UTILITIES
All income types 46,432 17,745
Passive income 736 614
High withholding tax interest — 1,974
Financial services income (*)19 —
Shipping income — (*)377
Dividends from noncontrolled
section 902 corporations (*)5,826 (*)27
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 39,851 14,753
WHOLESALE AND RETAIL TRADE
All income types 67,474 21,402
Passive income 868 1,309
High withholding tax interest — 11,788
Financial services income (*)21,289 (*)438
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 1,024 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 44,293 7,867
FINANCE, INSURANCE, AND REAL ESTATE
All income types 314,428 240,229
Passive income 11,120 3,431
High withholding tax interest (*)409 153,508
Financial services income 224,026 79,706
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations 50,680 (*)58
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 28,192 3,526
SERVICES
All income types 6,326
Passive income 87,378 618
High withholding tax interest 4,031 2,125
Financial services income — (*)110
Shipping income — (**)
Dividends from noncontrolled
section 902 corporations (**) —
Dividends from an IC-DISC or former
DISC(1) 2,071 —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 81,276 3,473
Foreign income and taxes
reported on Form 1118
Foreign taxes available
for credit
Paid or accrued
Taxes Other taxes
withheld at paid or
Industrial division and income type source on– accrued on–
Rents,
royalties, Branch
and license income
fees
(33) (34)
ALL INDUSTRIES
All income types 1,994,254 5,550,340
Passive income 20,787 9,488
High withholding tax interest — —
Financial services income 19,833 2,118,429
Shipping income (*)2,220 (*)19,084
Dividends from noncontrolled
section 902 corporations 267 (*)120
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — (*)7,277
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,951,146 3,395,943
AGRICULTURE, FORESTRY, AND FISHING
All income types (*)2,883 (*)4,128
Passive income — —
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)2,883 (*)4,128
MINING
All income types 6,963 263,096
Passive income (*)428 (*)279
High withholding tax interest — —
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 6,825 255,704
CONSTRUCTION
All income types (*)854 (*)28,683
Passive income — —
High withholding tax interest — —
Financial services income
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)854 (*)28,683
MANUFACTURING
All income types 1,418,251 2,871,446
Passive income 13,858 6,893
High withholding tax interest — —
Financial services income (*)3,148 (*)21,442
Shipping income — (*)-19
Dividends from noncontrolled
section 902 corporations (*)206 (*)120
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — (*)5
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,401,039 2,843,006
TRANSPORTATION AND PUBLIC UTILITIES
All income types 36,319 37,259
Passive income (*)6 (*)39
High withholding tax interest — —
Financial services income — (*)342
Shipping income (*)2,220 (*)19,102
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 33,093 17,777
WHOLESALE AND RETAIL TRADE
All income types 107,925 191,286
Passive income 5,891 (*)33
High withholding tax interest — —
Financial services income (*)4,113 (*)9,386
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)(1) —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 97,920 181,707
FINANCE, INSURANCE, AND REAL ESTATE
All income types 14,557 2,091,656
Passive income (*)215 (*)527
High withholding tax interest — —
Financial services income 12,427 2,086,994
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)58 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 1,857 4,134
SERVICES
All income types 407,511 62,787
Passive income 690 (*)1,717
High withholding tax interest
Financial services income (*)144 (*)265
Shipping income (**)
Dividends from noncontrolled
section 902 corporations (*)(3) —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 406,675 60,805
Foreign income and taxes
reported on Form 1118
Foreign taxes available
for credit
Paid or accrued
Other taxes paid or
accrued on–
Industrial division and income type Specifically
allocable
income Service
[section income
863(b)]
(35) (36)
ALL INDUSTRIES
All income types 4,600 315,733
Passive income (*)194 864
High withholding tax interest — —
Financial services income — 39,042
Shipping income — (*)14,425
Dividends from noncontrolled
section 902 corporations (*)8 (*)2
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 4,397 261,400
AGRICULTURE, FORESTRY, AND FISHING
All income types — (*)378
Passive income — —
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States — (*)378
MINING
All income types (*)121 (*)44,666
Passive income — —
High withholding tax interest — —
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States (*)121 (*)44,656
CONSTRUCTION
All income types — 27,635
Passive income — (*)27
High withholding tax interest — —
Financial services income
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States — 27,608
MANUFACTURING
All income types 3,554 71,068
Passive income (*)194 —
High withholding tax interest — —
Financial services income — (*)1,260
Shipping income — —
Dividends from noncontrolled
section 902 corporations (*)8 —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 3,352 69,807
TRANSPORTATION AND PUBLIC UTILITIES
All income types — 31,041
Passive income — —
High withholding tax interest — —
Financial services income — (*)75
Shipping income — (*)14,425
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States — 16,541
WHOLESALE AND RETAIL TRADE
All income types (*)63 5,184
Passive income — —
High withholding tax interest — —
Financial services income — —
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States (*)63 5,184
FINANCE, INSURANCE, AND REAL ESTATE
All income types (*)25 45,245
Passive income — (*)79
High withholding tax interest — —
Financial services income — 37,371
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — (*)2
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States (*)25 7,794
SERVICES
All income types (*)836 90,528
Passive income — (*)758
High withholding tax interest
Financial services income — (*)336
Shipping income
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States (*)836 89,432
Foreign income and taxes
reported on Form 1118
Foreign taxes available
for credit
Paid or
accrued
Other taxes
paid or
accrued on–
Industrial division and income type Taxes
deemed
Other paid
Income
(37) (38)
ALL INDUSTRIES
All income types 3,438,247 26,791,812
Passive income 41,355 274,746
High withholding tax interest — 24,342
Financial services income 370,793 3,377,608
Shipping income (*)2,737 33,450
Dividends from noncontrolled
section 902 corporations (*)2,380 1,123,480
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (*)3,544 (*)3,142
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 3,015,437 21,955,044
AGRICULTURE, FORESTRY, AND FISHING
All income types (*)406 (*)80,714
Passive income — (*)37
High withholding tax interest — —
Financial services income — —
Shipping income — —
Dividends from noncontrolled
section 902 corporations (**) (**)
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — —
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)406 (*)80,472
MINING
All income types 846,008 130,112
Passive income (*)1,381 (*)1,261
High withholding tax interest — (*)1,507
Financial services income (**) (**)
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)1,408 (*)933
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 839,676 125,454
CONSTRUCTION
All income types (*)206 (*)127,756
Passive income — (*)79
High withholding tax interest — —
Financial services income
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — —
Dividends from an IC-DISC or former
DISC(1) — (*)4,125
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States (*)206 (*)123,533
MANUFACTURING
All income types 2,058,040 20,817,747
Passive income 29,188 241,954
High withholding tax interest — (*)3,522
Financial services income (*)416 629,446
Shipping income (*)138 (*)13,189
Dividends from noncontrolled
section 902 corporations (*)249 880,427
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) — (*)2,993
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 2,028,050 19,046,217
TRANSPORTATION AND PUBLIC UTILITIES
All income types 42,527 230,693
Passive income (*)53 2,140
High withholding tax interest — (*)111
Financial services income — (*)1,567
Shipping income (*)2,600 (*)19,655
Dividends from noncontrolled
section 902 corporations — (*)13,734
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) (**) (**)
All other income from outside the
United States 39,874 193,487
WHOLESALE AND RETAIL TRADE
All income types 53,712 936,253
Passive income (*)492 6,192
High withholding tax interest — (*)4,405
Financial services income (*)24,315 (*)136,444
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations — 17,371
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 28,905 771,838
FINANCE, INSURANCE, AND REAL ESTATE
All income types 367,551 3,289,711
Passive income 9,653 12,308
High withholding tax interest — (*)14,797
Financial services income 345,840 2,608,540
Shipping income (**) (**)
Dividends from noncontrolled
section 902 corporations (*)724 184,139
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 11,334 469,342
SERVICES
All income types 67,796 1,178,826
Passive income (*)588 10,776
High withholding tax interest
Financial services income (*)222 (*)663
Shipping income
Dividends from noncontrolled
section 902 corporations — 22,547
Dividends from an IC-DISC or former
DISC(1) — —
Income related to sections 904(g)
or 901(j) (**) (**)
Certain distributions from a FSC or
former FSC(2) — —
All other income from outside the
United States 66,986 1,144,691
(*) Data should be used with caution because of the small number of returns on which they were based.
(**) Not shown to avoid disclosure of information about specific taxpayers. However, the data are included in the appropriate totals.
(1) Interest Charge – Domestic International Sales Corporation (IC-DISC) and Domestic International Sales Corporation (DISC).
(2) Foreign Sales Corporation (FSC)
(3) Included in gross income (less loss), columns 2-8 See text for additional information.
(4) Included in deductions, columns 12-21 See text for additional information.
NOTE: Totals for income types include small amounts for categories not listed separately.
Section 863(b) income (income partly within and partly without the United States) and foreign branch income are also included in the summary amounts reported in columns 16 through 22 of Table 1, and are also reported separately (on Form 1118, Schedule F, Gross Income and Definitely Allocable Deductions From Sources Outside the U.S. Under Section 863(b) and for Foreign Branches) in columns 24 and 25 of Table 1.
Total deductions not definitely allocable to specific types of income (column 32) are equal to the sum of Table 1, columns 33 through 35, relating to research and development, interest, and any other not definitely allocable expenses (any differences are due to taxpayer reporting variations). Total foreign-source gross income (Table 1, column 16) less total foreign deductions (Table 1, column 26) is equal to foreign-source taxable income before adjustments (Table 1, column 37).
Adjustments to foreign-source taxable income (reported in column 38 of Table 1) include the allocation of: (1) current-year foreign-source losses, (2) overall foreign losses, and (3) current-year U.S.-source losses as well as the recapture of prior-year overall foreign losses, and recharacterization of prior-year foreign-source losses. These adjustments (reported on Schedule J, Separate Limitation Loss Allocations and Other Adjustments Necessary to Determine Numerators of Limitation Fractions, Year-End Recharacterization Balances, and Overall Foreign Loss Account Balances) affect the numerator of the limitation fraction used to compute the foreign tax credit. The income after adjustments (the numerator of the limitation fraction) is reported in column 39 of Table 1. The limitation fraction, foreign-source taxable divided by total taxable income from all sources, is applied to the total U.S. tax against which the credit is allowed to determine any limitation on the foreign tax credit. Taxpayers are required to calculate this limitation for each statutory income category.
Statistics on foreign taxes are reported in columns 40 through 52 of Table 1. Data on foreign taxes paid, accrued, and deemed paid (through related foreign corporations or their subsidiaries) from Form 1118, Schedule B, Foreign Tax Credit–Corporation, are reported in columns 43 through 52 of Table 1. Total foreign taxes paid or accrued (Table 1, column 44) are the sum of columns 45 through 51 (any differences are due to taxpayer reporting variations). Table 1, column 42 shows carryovers of excess or “unused” taxes from prior years, which can be added to the 1996 pool of creditable foreign taxes. Total foreign taxes paid, accrued, and deemed paid, plus carryover, are then adjusted for certain items (e.g., reductions of foreign taxes related to oil and gas extraction income under Internal Revenue code section 907, reductions of foreign taxes related to income earned in sanctioned countries under Internal Revenue code section 901(j), and other reductions of creditable taxes) in column 41. Thus, total foreign taxes available for credit (Table 1., column 40) are equal to total foreign taxes paid, accrued, and deemed paid (column 43), plus any carryover of prior-year excess or “unused” foreign taxes (column 42), less any reduction in foreign taxes (column 41).
Tables 2 and 3 are similar in column format to Table 1 except that they do not provide data from Form 1120–U.S. Corporation Income Tax Return. Table 2 presents data reported by industrial grouping and separate statutory limitation income category, while Table 3 presents data by selected geographic region and country.
Table 3.–U.S. Corporation Returns with a Foreign Tax Credit: Foreign Income and Tax Reported on Form 1118, by Selected Country to Which Foreign Tax Was Paid
[All figures are estimates based on samples–money amounts are in thousands of dollars]
Foreign
income
and taxes
reported on
Form 1118
Gross income
(less loss)
Selected country Number of Total
returns
(1) (2)
All countries 6,100 331,078,563
Canada 1,906 26,878,811
Latin America, total 1,465 35,629,448
Mexico 1,086 8,089,267
Central America, total 300 1,610,631
Belize 40 12,014
Costa Rica 157 127,715
El Salvador 105 130,348
Guatemala 157 213,402
Honduras 102 68,762
Nicaragua 62 33,118
Panama 196 996,836
Central America not allocable 9 (*)28,436
Caribbean countries, total 333 3,248,846
Cayman Islands (British) 163 1,631,351
Dominican Republic 129 282,779
Haiti 42 74,382
Jamaica 118 190,288
Trinidad and Tobago 119 722,076
Other Caribbean countries 120 347,970
South America, total 840 19,646,423
Argentina 507 4,505,112
Bolivia 116 65,422
Brazil 546 7,788,097
Chile 366 2,617,481
Colombia 321 1,811,521
Ecuador 191 219,846
Paraguay 78 69,161
Peru 234 1,103,126
Uruguay 133 262,849
Venezuela 370 1,030,724
Other South America 60 173,085
Latin America not allocable 28 3,034,281
Other Western Hemisphere, total 333 5,192,952
Bahamas 126 2,065,908
Bermuda 222 2,385,635
Netherlands Antilles 94 476,362
Other British West Indies 98 215,737
All other Western Hemisphere 62 49,309
Europe, total 2,691 126,490,604
European Economic Community, total 2,463 106,005,108
Belgium 402 5,583,463
Denmark 274 959,292
France (including Andorra) 703 10,522,674
Germany 733 16,621,569
Greece 167 948,891
Ireland 272 3,387,746
Italy (including San Marino) 544 7,613,777
Luxembourg 89 436,163
Netherlands 830 11,366,633
Portugal 205 547,369
Spain 580 3,469,094
United Kingdom 1,706 44,541,213
Other European Economic
Community 5 (*)7,224
Other West European countries,
total 854 13,628,346
Austria 253 1,030,325
Finland 252 677,343
Liechtenstein 12 27,684
Monaco 20 13,533
Norway 260 3,137,083
Sweden 524 2,221,479
Switzerland 464 5,600,233
Turkey 183 834,588
Other West European countries 79 58,835
West European countries
not allocable 3 (*)27,244
East European countries, total 393 2,371,513
Romania 56 55,482
Former Soviet Union 180 1,207,047
Other East Europe 339 1,108,984
Europe not allocable 53 4,485,638
Africa, total 519 5,678,937
North Africa, total 178 1,328,512
Algeria 41 161,177
Egypt 136 1,033,000
Libya 8 (*)11,425
Morocco 70 78,606
Other North Africa 59 44,305
East Africa, total 111 283,077
Ethiopia 26 53,863
Kenya 70 145,474
Tanzania 22 6,245
Uganda 18 4,577
Other East Africa 59 72,919
West and Central Africa, total 174 3,337,627
Gabon 30 111,342
Ghana 44 103,169
Liberia 31 100,971
Nigeria 91 1,923,360
Zaire 26 90,486
Other West and Central Africa 97 1,006,299
Southern Africa, total 399 726,097
Malawi 17 15,354
Zimbabwe 54 36,730
South Africa (including Namibia) 390 643,582
Zambia 20 5,621
Other Southern Africa 23 24,811
Africa not allocable 13 3,623
Asia, total 1,804 74,982,034
Middle East, total 508 4,782,645
Bahrain 75 322,812
Iran 25 8,168
Iraq 5 (*)1,007
Israel 379 644,342
Kuwait 84 97,177
Lebanon 61 107,322
Qatar 66 150,438
Saudi Arabia 188 1,825,527
United Arab Emirates 132 713,867
Other areas of the
Arabian Peninsula 66 692,043
Other Middle East 121 219,941
Southern and Southeast Asia, total 889 19,852,401
Bangladesh 38 60,999
India 319 1,048,166
Indonesia 346 5,418,739
Malaysia 380 2,027,674
Pakistan 136 436,641
Philippines 306 1,690,336
Singapore 478 6,718,144
Sri Lanka 66 41,247
Thailand 354 2,127,333
Vietnam 69 56,841
Other Southern and
Southeast Asia 87 226,281
Eastern Asia, total 1,462 48,660,437
China 385 1,884,281
Hong Kong 415 3,626,126
Japan 510 7,298,441
South Korea 1,198 31,708,641
Taiwan 468 3,337,489
Other Eastern Asia 30 805,457
Asia not allocable 44 1,686,551
Oceania, total 881 11,233,599
Australia 827 9,273,285
New Zealand 348 1,644,453
Other Oceania 81 315,861
Puerto Rico and U.S.
Possessions, total 505 4,094,328
Puerto Rico 443 3,213,921
U.S. Possessions, total 180 880,407
American Samoa 26 65,496
Guam 129 382,594
Virgin Islands 90 276,718
Other U.S. Possessions 26 155,599
Country not stated 2,449 37,542,678
Interest Charge-Domestic
International Sales
Corporation dividends(1) 10 (*)4,624
Foreign Sales Corporation
dividends(1) 82 3,350,547
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Selected country Dividends Foreign
divided
income
resulting
from
foreign
taxes
deemed
paid
(gross-up)
(3) (4)
All countries 62,621,960 26,714,995
Canada 6,142,279 3,720,752
Latin America, total 5,826,181 1,737,345
Mexico 851,028 412,922
Central America, total 286,733 84,206
Belize (*)2,875 (*)906
Costa Rica 12,180 3,088
El Salvador 4,571 (*)1,626
Guatemala 6,637 1,969
Honduras (*)4,859 (*)3,466
Nicaragua — —
Panama 255,611 73,151
Central America not allocable — —
Caribbean countries, total 957,469 88,624
Cayman Islands (British) 739,210 61,704
Dominican Republic 75,280 16,848
Haiti — —
Jamaica (*)30,929 (*)1,345
Trinidad and Tobago (*)17,248 (*)6,991
Other Caribbean countries 94,802 1,736
South America, total 3,730,934 1,151,593
Argentina 792,803 364,005
Bolivia (*)2,367 (*)458
Brazil 2,090,173 617,468
Chile 386,192 38,065
Colombia 141,304 43,899
Ecuador 18,791 5,035
Paraguay (*)5,001 (*)2,854
Peru 63,232 39,285
Uruguay 51,724 4,543
Venezuela 179,287 35,983
Other South America (*)59 —
Latin America not allocable (*)18 —
Other Western Hemisphere, total 2,106,312 177,782
Bahamas 462,717 16,763
Bermuda 1,265,206 107,124
Netherlands Antilles 287,260 39,126
Other British West Indies 80,325 12,948
All other Western Hemisphere (*)10,804 (*)1,820
Europe, total 31,158,366 14,039,633
European Economic Community, total 26,028,343 12,133,989
Belgium 1,138,048 414,823
Denmark 94,653 44,601
France (including Andorra) 2,838,519 1,203,524
Germany 4,325,350 2,895,594
Greece 36,952 18,659
Ireland 861,339 116,615
Italy (including San Marino) 2,090,389 1,264,641
Luxembourg 184,301 37,661
Netherlands 4,780,105 2,379,121
Portugal 171,584 66,641
Spain 770,069 298,141
United Kingdom 8,736,288 3,393,969
Other European Economic
Community (*)747 —
Other West European countries,
total 4,047,991 1,378,224
Austria 432,897 203,353
Finland 92,741 25,954
Liechtenstein (*)24,319 (*)1,002
Monaco (*)683 (*)227
Norway 162,359 42,932
Sweden 784,000 259,533
Switzerland 2,450,007 791,195
Turkey 92,999 52,302
Other West European countries (*)7,986 (*)1,725
West European countries
not allocable — —
East European countries, total 301,308 79,972
Romania (*)6 (*)1
Former Soviet Union 173,259 7,428
Other East Europe 128,043 72,543
Europe not allocable (*)780,723 (*)447,448
Africa, total 1,048,460 497,062
North Africa, total 73,098 22,400
Algeria — —
Egypt 46,207 12,046
Libya (*)10,494 —
Morocco (*)10,064 (*)6,791
Other North Africa (*)6,332 (*)3,563
East Africa, total 35,201 22,395
Ethiopia — —
Kenya 18,620 13,582
Tanzania (*)2,615 (*)673
Uganda (*)1,492 (*)976
Other East Africa 12,475 (*)7,164
West and Central Africa, total 833,564 385,417
Gabon (*)91,529 (*)2,041
Ghana (*)36,564 (*)21,455
Liberia 74,016 (*)6,051
Nigeria 456,112 195,699
Zaire (*)1,854 (*)555
Other West and Central Africa (*)173,488 (*)159,616
Southern Africa, total 106,597 66,849
Malawi (*)13,801 (*)1,030
Zimbabwe 16,513 (*)12,656
South Africa (including Namibia) 64,260 49,505
Zambia (*)4,650 (*)19
Other Southern Africa (*)7,373 (*)3,639
Africa not allocable — —
Asia, total 9,356,739 5,343,514
Middle East, total 159,930 45,188
Bahrain (*)7,382 (*)103
Iran (*)384 —
Iraq — —
Israel 55,940 18,334
Kuwait (*)758 (*)347
Lebanon (*)569 (*)58
Qatar — —
Saudi Arabia 46,822 16,514
United Arab Emirates (*)40,961 (*)9,025
Other areas of the
Arabian Peninsula (*)140 (*)5
Other Middle East 6,973 (*)800
Southern and Southeast Asia, total 2,533,561 917,277
Bangladesh (*)96 (*)138
India 45,699 28,405
Indonesia 584,186 323,512
Malaysia 278,347 89,725
Pakistan 4,856 3,431
Philippines 227,610 97,361
Singapore 886,133 119,363
Sri Lanka (*)1,839 (*)919
Thailand 496,097 252,209
Vietnam — —
Other Southern and
Southeast Asia (*)8,698 (*)2,215
Eastern Asia, total 6,653,981 4,381,048
China 81,442 7,567
Hong Kong 401,700 110,950
Japan 1,830,660 280,437
South Korea 4,040,787 3,843,378
Taiwan 298,886 138,716
Other Eastern Asia (*)506 —
Asia not allocable (*)9,267 —
Oceania, total 2,352,123 1,017,574
Australia 1,571,138 779,843
New Zealand 733,254 227,006
Other Oceania 47,731 10,724
Puerto Rico and U.S.
Possessions, total 355,526 91,882
Puerto Rico 266,257 82,286
U.S. Possessions, total 89,268 9,595
American Samoa (*)45,000 —
Guam (*)6,755 (*)2,998
Virgin Islands (*)6,075 (*)2,080
Other U.S. Possessions (*)31,438 (*)4,518
Country not stated 920,804 89,452
Interest Charge-Domestic
International Sales
Corporation dividends(1) (*)4,624 —
Foreign Sales Corporation
dividends(1) 3,350,547 —
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Selected country Interest Rents,
royalties,
and
license
fees
(5) (6)
All countries 56,197,146 45,127,226
Canada 3,704,938 3,041,637
Latin America, total 10,191,960 3,135,268
Mexico 1,272,774 955,208
Central America, total 250,722 293,642
Belize 653 (*)206
Costa Rica 10,241 22,536
El Salvador 31,311 8,131
Guatemala 25,451 13,781
Honduras 4,199 4,287
Nicaragua (*)5,306 1,953
Panama 152,520 243,136
Central America not allocable (*)21,042 (*)-390
Caribbean countries, total 795,125 67,825
Cayman Islands (British) 674,573 15,148
Dominican Republic 25,013 9,355
Haiti 11,818 (*)867
Jamaica 26,116 12,278
Trinidad and Tobago 30,662 3,590
Other Caribbean countries 26,942 26,587
South America, total 5,184,073 1,805,251
Argentina 1,531,243 484,675
Bolivia 22,331 4,125
Brazil 2,574,177 812,518
Chile 559,862 152,336
Colombia 142,478 102,295
Ecuador 51,514 22,556
Paraguay 20,688 3,184
Peru 51,996 47,238
Uruguay 96,090 16,392
Venezuela 117,682 155,371
Other South America (*)16,012 (*)4,560
Latin America not allocable (*)2,689,266 (*)13,342
Other Western Hemisphere, total 1,909,092 47,492
Bahamas 1,250,553 5,166
Bermuda 570,105 28,986
Netherlands Antilles 77,325 6,043
Other British West Indies 9,711 2,455
All other Western Hemisphere (*)1,397 4,842
Europe, total 21,796,051 21,152,881
European Economic Community, total 19,942,107 18,535,735
Belgium 502,549 811,771
Denmark 45,946 283,016
France (including Andorra) 1,513,875 2,615,512
Germany 1,207,770 4,673,909
Greece 634,873 91,503
Ireland 162,028 1,726,790
Italy (including San Marino) 1,265,057 1,668,314
Luxembourg 55,207 53,016
Netherlands 510,100 1,506,793
Portugal 36,030 163,578
Spain 656,064 1,155,798
United Kingdom 13,346,252 3,785,734
Other European Economic
Community (*)6,355 —
Other West European countries,
total 1,535,698 2,082,650
Austria 74,798 262,782
Finland 80,299 222,433
Liechtenstein (*)1,177 (*)959
Monaco (*)1,462 (*)26
Norway 402,475 135,321
Sweden 236,196 552,216
Switzerland 359,989 775,795
Turkey 367,277 120,877
Other West European countries 12,023 10,827
West European countries
not allocable — (*)1,412
East European countries, total 223,979 436,757
Romania (*)14,219 9,279
Former Soviet Union 126,111 133,707
Other East Europe 83,649 293,771
Europe not allocable (*)94,266 97,739
Africa, total 295,697 327,805
North Africa, total 102,671 37,086
Algeria (*)195 (*)3,868
Egypt 71,627 24,272
Libya — —
Morocco 6,190 8,277
Other North Africa (*)24,659 670
East Africa, total 31,109 16,598
Ethiopia (*)3,770 (*)5,173
Kenya 19,175 5,141
Tanzania (*)288 (*)340
Uganda — (*)776
Other East Africa (*)7,877 5,169
West and Central Africa, total 60,639 14,605
Gabon (*)13,084 —
Ghana (*)483 (*)-15
Liberia (*)12,276 —
Nigeria 2,271 8,805
Zaire (*)1,134 (*)30
Other West and Central Africa 31,391 5,784
Southern Africa, total 99,664 259,514
Malawi (*)99 (*)1
Zimbabwe (*)319 2,365
South Africa (including Namibia) 98,743 245,321
Zambia (*)258 (*)181
Other Southern Africa (*)246 (*)11,646
Africa not allocable (*)1,615 (*)2
Asia, total 9,112,767 13,328,501
Middle East, total 553,044 362,678
Bahrain 255,482 29,432
Iran (*)18 (*)-4,042
Iraq — (*)289
Israel 103,131 128,000
Kuwait (*)1,535 8,059
Lebanon (*)13,881 13,679
Qatar 3,129 7,366
Saudi Arabia 45,899 106,590
United Arab Emirates 103,653 15,604
Other areas of the
Arabian Peninsula 7,041 49,372
Other Middle East 19,275 8,329
Southern and Southeast Asia, total 3,368,523 2,534,830
Bangladesh (*)17,856 2,410
India 443,804 83,331
Indonesia 435,217 139,111
Malaysia 105,951 209,460
Pakistan 200,575 5,605
Philippines 275,639 163,908
Singapore 1,388,121 1,704,305
Sri Lanka 9,498 (*)337
Thailand 347,827 207,696
Vietnam (*)5,702 (*)666
Other Southern and
Southeast Asia (*)138,332 18,001
Eastern Asia, total 5,183,248 10,247,264
China 87,365 468,620
Hong Kong 788,678 630,985
Japan 1,650,396 487,248
South Korea 1,882,289 7,611,540
Taiwan 773,214 1,047,306
Other Eastern Asia (*)1,306 (*)1,585
Asia not allocable (*)7,952 183,709
Oceania, total 1,188,400 1,201,239
Australia 950,010 1,039,240
New Zealand 201,618 153,280
Other Oceania 36,771 8,719
Puerto Rico and U.S.
Possessions, total 1,009,305 161,180
Puerto Rico 781,503 130,004
U.S. Possessions, total 227,802 31,176
American Samoa (*)6,124 (*)2,413
Guam 101,528 23,957
Virgin Islands 108,615 4,019
Other U.S. Possessions (*)11,535 (*)785
Country not stated 6,988,936 2,731,223
Interest Charge-Domestic
International Sales
Corporation dividends(1) — —
Foreign Sales Corporation
dividends(1) — —
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Selected country Service Other
income income
(7) (8)
All countries 28,536,992 111,880,244
Canada 1,084,419 9,184,786
Latin America, total 1,837,188 12,901,506
Mexico 398,143 4,199,192
Central America, total 56,025 639,303
Belize (*)322 7,053
Costa Rica 11,004 68,666
El Salvador 4,685 80,025
Guatemala 20,122 145,442
Honduras 3,690 48,260
Nicaragua (*)470 25,388
Panama 15,733 256,685
Central America not allocable — (*)7,783
Caribbean countries, total 92,436 1,247,366
Cayman Islands (British) (*)3,361 137,354
Dominican Republic 11,152 145,132
Haiti (*)2,568 59,129
Jamaica 26,151 93,469
Trinidad and Tobago 28,683 634,902
Other Caribbean countries 20,522 177,381
South America, total 1,098,652 6,675,921
Argentina 325,587 1,006,799
Bolivia 17,792 18,349
Brazil 226,717 1,467,044
Chile 110,620 1,370,405
Colombia 79,038 1,302,507
Ecuador 15,092 106,859
Paraguay (*)3,134 34,300
Peru 55,407 845,968
Uruguay 28,378 65,722
Venezuela 233,917 308,484
Other South America (*)2,968 149,485
Latin America not allocable (*)191,932 139,724
Other Western Hemisphere, total 74,036 878,238
Bahamas 25,240 305,468
Bermuda 28,530 385,683
Netherlands Antilles (*)6,373 60,235
Other British West Indies 1,993 108,305
All other Western Hemisphere (*)11,899 18,546
Europe, total 6,299,804 32,043,870
European Economic Community, total 4,195,401 25,169,532
Belgium 221,633 2,494,639
Denmark 18,006 473,070
France (including Andorra) 285,642 2,065,603
Germany 475,685 3,043,261
Greece 67,879 99,024
Ireland 93,396 427,578
Italy (including San Marino) 158,534 1,166,843
Luxembourg 4,946 101,031
Netherlands 273,936 1,916,577
Portugal 16,654 92,882
Spain 67,661 521,361
United Kingdom 2,511,307 12,767,663
Other European Economic
Community (*)122 —
Other West European countries,
total 513,067 4,070,715
Austria 9,277 47,218
Finland 10,864 245,052
Liechtenstein — (*)226
Monaco (*)8,056 (*)3,078
Norway 241,313 2,152,683
Sweden 70,943 318,590
Switzerland 112,430 1,110,817
Turkey 54,329 146,803
Other West European countries 5,856 20,417
West European countries
not allocable — (*)25,832
East European countries, total 160,331 1,169,167
Romania 4,062 27,915
Former Soviet Union 27,730 738,812
Other East Europe 128,538 402,440
Europe not allocable (*)1,431,005 1,634,456
Africa, total 803,778 2,706,134
North Africa, total 162,377 930,881
Algeria (*)77,194 79,920
Egypt 66,039 812,808
Libya (*)1 (*)930
Morocco 7,514 39,770
Other North Africa 11,629 -2,547
East Africa, total 12,701 165,073
Ethiopia (*)6,776 38,144
Kenya (*)5,338 83,618
Tanzania (*)69 2,261
Uganda (*)2 1,330
Other East Africa (*)515 39,720
West and Central Africa, total 595,171 1,448,231
Gabon (*)727 3,961
Ghana (*)821 43,861
Liberia (*)3,878 4,750
Nigeria 203,989 1,056,483
Zaire (*)31 86,882
Other West and Central Africa 385,725 252,295
Southern Africa, total 33,424 160,048
Malawi (*)25 396
Zimbabwe (*)747 4,131
South Africa (including Namibia) 32,560 153,194
Zambia (*)70 443
Other Southern Africa (*)22 1,885
Africa not allocable (*)106 (*)1,900
Asia, total 12,350,022 25,490,492
Middle East, total 778,573 2,883,232
Bahrain 15,148 15,264
Iran (*)37 11,771
Iraq — (*)719
Israel 124,134 214,803
Kuwait 37,889 48,588
Lebanon (*)827 78,308
Qatar 45,879 94,064
Saudi Arabia 374,106 (*)1,235,595
United Arab Emirates 133,061 411,563
Other areas of the
Arabian Peninsula 36,912 598,572
Other Middle East 10,579 173,987
Southern and Southeast Asia, total 1,631,749 8,866,461
Bangladesh (*)17,543 22,956
India 237,664 209,263
Indonesia 251,069 3,685,644
Malaysia 124,038 1,220,154
Pakistan 94,571 127,603
Philippines 149,436 776,383
Singapore 462,734 2,157,488
Sri Lanka 11,357 17,297
Thailand 243,544 579,960
Vietnam 26,448 24,025
Other Southern and
Southeast Asia 13,346 45,688
Eastern Asia, total 9,437,958 12,756,917
China 477,917 761,370
Hong Kong 391,058 1,302,756
Japan 792,127 2,257,573
South Korea 6,651,629 7,679,016
Taiwan 393,110 686,258
Other Eastern Asia (*)732,116 69,945
Asia not allocable (*)501,742 983,881
Oceania, total 407,377 5,066,887
Australia 319,566 4,613,488
New Zealand 68,724 260,571
Other Oceania 19,087 192,828
Puerto Rico and U.S.
Possessions, total 572,692 1,903,744
Puerto Rico 442,557 1,511,314
U.S. Possessions, total 130,135 392,430
American Samoa (*)8 11,950
Guam 59,626 187,730
Virgin Islands 62,884 93,044
Other U.S. Possessions (*)7,617 99,706
Country not stated 5,107,678 21,704,586
Interest Charge-Domestic
International Sales
Corporation dividends(1) — —
Foreign Sales Corporation
dividends(1) — —
Foreign income and taxes
reported on Form 1118
Selected country Oil and gas Foreign
extraction branch
income income(2)
(less
loss)(2)
(9) (10)
All countries 22,073,503 75,499,359
Canada 2,017,700 2,652,963
Latin America, total 2,048,027 9,733,137
Mexico (*)3,415 1,275,741
Central America, total (*)7,794 489,783
Belize — (*)2,137
Costa Rica — (*)34,964
El Salvador — (*)42,170
Guatemala — 99,233
Honduras — (*)23,865
Nicaragua — (*)11,129
Panama (*)7,794 272,403
Central America not allocable — (*)3,883
Caribbean countries, total (*)480,587 685,491
Cayman Islands (British) — 333,432
Dominican Republic — 96,048
Haiti — (*)12,975
Jamaica — 44,524
Trinidad and Tobago (*)480,587 (*)100,419
Other Caribbean countries — (*)98,093
South America, total 1,556,232 7,237,917
Argentina (*)291,896 2,144,238
Bolivia (*)110 (*)15,948
Brazil (*)336 2,666,515
Chile (*)576,143 503,028
Colombia (*)650,601 596,759
Ecuador (*)26,824 62,407
Paraguay (*)42 (*)50,974
Peru (*)-869 820,142
Uruguay — 119,284
Venezuela (*)11,147 209,072
Other South America — (*)49,549
Latin America not allocable — (*)44,205
Other Western Hemisphere, total (*)41,189 1,622,747
Bahamas — 1,364,304
Bermuda (*)41,189 (*)167,921
Netherlands Antilles — (*)70,773
Other British West Indies — (*)13,841
All other Western Hemisphere — (*)5,906
Europe, total 7,778,964 28,355,390
European Economic Community, total 5,917,286 25,066,596
Belgium (*)524 1,895,830
Denmark (*)264,699 381,658
France (including Andorra) (*)28,042 1,106,167
Germany (*)19,684 2,212,735
Greece — 620,951
Ireland — 261,222
Italy (including San Marino) (*)-2,479 1,165,355
Luxembourg — (*)3,430
Netherlands 1,828,119 2,783,891
Portugal — 58,050
Spain (*)9,353 719,300
United Kingdom 3,749,343 13,858,007
Other European Economic
Community — —
Other West European countries,
total (*)1,603,338 2,462,464
Austria — 47,159
Finland — (*)41,010
Liechtenstein — —
Monaco — (*)5,054
Norway (*)1,603,342 1,246,350
Sweden — 137,493
Switzerland (*)1 746,301
Turkey (*)-4 238,461
Other West European countries — (*)635
West European countries
not allocable — —
East European countries, total (*)258,339 683,890
Romania (*)18 (*)27,990
Former Soviet Union (*)258,321 354,755
Other East Europe — 301,145
Europe not allocable — (*)142,439
Africa, total 2,487,662 1,692,639
North Africa, total (*)307,676 383,605
Algeria (*)22,319 (*)54,260
Egypt (*)285,150 268,281
Libya — —
Morocco — (*)23,234
Other North Africa (*)208 (*)37,831
East Africa, total — 117,203
Ethiopia — (*)12,805
Kenya — (*)80,600
Tanzania — (*)1,212
Uganda — (*)10
Other East Africa — (*)22,576
West and Central Africa, total 2,179,308 1,089,351
Gabon (*)88,026 (*)8,944
Ghana — (*)61
Liberia — —
Nigeria (*)1,526,359 (*)893,145
Zaire (*)79,476 (*)79,991
Other West and Central Africa (*)485,447 107,210
Southern Africa, total (*)678 102,480
Malawi — (*)2
Zimbabwe — (*)-6
South Africa (including Namibia) (*)678 103,337
Zambia — (*)-853
Other Southern Africa — —
Africa not allocable — —
Asia, total 5,064,340 24,602,702
Middle East, total 1,338,114 1,886,643
Bahrain (*)313 (*)261,346
Iran — (*)380
Iraq — —
Israel — (*)20,826
Kuwait — (*)22,719
Lebanon — (*)4,589
Qatar (*)11,834 (*)66,313
Saudi Arabia (*)559,979 748,509
United Arab Emirates (*)263,775 371,984
Other areas of the
Arabian Peninsula (*)502,213 (*)267,363
Other Middle East — 122,615
Southern and Southeast Asia, total 3,441,916 7,836,583
Bangladesh — (*)5,166
India (*)2 435,391
Indonesia 2,127,983 2,584,678
Malaysia (*)767,093 1,107,850
Pakistan (*)34,809 266,833
Philippines — 628,712
Singapore (*)3,677 2,015,807
Sri Lanka — (*)12,423
Thailand (*)506,588 614,815
Vietnam (*)1,764 (*)5,618
Other Southern and
Southeast Asia — (*)159,291
Eastern Asia, total (*)284,310 14,830,075
China (*)270,751 423,565
Hong Kong — 1,660,543
Japan — 2,555,511
South Korea (*)13,559 9,415,705
Taiwan — 774,750
Other Eastern Asia — (*)1
Asia not allocable — (*)49,401
Oceania, total (*)1,872,513 4,075,775
Australia (*)1,749,160 3,781,522
New Zealand (*)11,644 240,277
Other Oceania (*)111,710 (*)53,976
Puerto Rico and U.S.
Possessions, total — 1,809,151
Puerto Rico — 1,533,225
U.S. Possessions, total — 275,926
American Samoa — (*)5,835
Guam — 183,680
Virgin Islands — 75,072
Other U.S. Possessions — (*)11,340
Country not stated 763,108 954,855
Interest Charge-Domestic
International Sales
Corporation dividends(1) — —
Foreign Sales Corporation
dividends(1) — —
Foreign income and taxes
reported on Form 1118
Selected country Specifically Total
allocable deductions
income
(section
863(b)](2)
(11) (12)
All countries 27,442,900 180,252,217
Canada 1,855,495 12,023,022
Latin America, total 1,932,128 20,302,634
Mexico 808,045 4,212,398
Central America, total 34,315 803,191
Belize (*)332 5,925
Costa Rica 10,385 57,349
El Salvador 4,595 84,782
Guatemala 4,737 150,648
Honduras 2,616 50,631
Nicaragua 403 21,177
Panama 10,889 413,413
Central America not allocable (*)358 (*)19,267
Caribbean countries, total 44,411 1,772,358
Cayman Islands (British) 16,957 796,897
Dominican Republic 6,814 172,602
Haiti (*)158 43,281
Jamaica 3,193 89,972
Trinidad and Tobago 2,512 451,440
Other Caribbean countries 14,777 218,166
South America, total 885,405 11,580,594
Argentina 414,888 2,272,595
Bolivia 1,371 49,453
Brazil 319,998 4,033,863
Chile 25,043 1,810,870
Colombia 29,969 1,142,030
Ecuador 5,476 214,224
Paraguay 929 97,900
Peru 11,062 849,356
Uruguay 3,081 235,117
Venezuela 16,175 743,283
Other South America 57,415 131,904
Latin America not allocable (*)159,953 1,934,093
Other Western Hemisphere, total 70,410 2,386,900
Bahamas 658 1,582,024
Bermuda 188 557,513
Netherlands Antilles 15,880 139,325
Other British West Indies 53,570 74,819
All other Western Hemisphere 1,806 33,219
Europe, total 7,271,375 59,107,107
European Economic Community, total 4,721,129 49,921,262
Belgium 172,739 3,092,371
Denmark 40,168 565,810
France (including Andorra) 385,516 4,969,439
Germany 674,755 6,290,352
Greece 16,730 592,930
Ireland 62,010 1,339,358
Italy (including San Marino) 336,040 3,086,405
Luxembourg 22,417 194,480
Netherlands 285,504 3,159,477
Portugal 10,036 243,290
Spain 87,232 1,784,169
United Kingdom 2,627,983 24,602,783
Other European Economic
Community — (*)397
Other West European countries,
total 605,961 5,647,829
Austria 20,773 521,875
Finland 174,033 371,095
Liechtenstein -(*)4 11,977
Monaco — 10,709
Norway 12,486 990,257
Sweden 51,493 909,726
Switzerland 266,328 2,280,274
Turkey 71,331 507,529
Other West European countries 9,522 30,462
West European countries
not allocable — (*)13,925
East European countries, total 92,763 1,416,749
Romania 2,004 41,595
Former Soviet Union 46,597 851,238
Other East Europe 44,161 523,916
Europe not allocable 1,851,522 2,121,267
Africa, total 92,505 2,387,558
North Africa, total 23,133 585,719
Algeria (*)1,011 115,684
Egypt 9,671 401,335
Libya — (*)693
Morocco 7,843 35,520
Other North Africa 4,607 32,486
East Africa, total 2,358 132,390
Ethiopia (*)70 44,411
Kenya 638 62,750
Tanzania (*)343 2,371
Uganda (*)193 1,523
Other East Africa 1,114 21,334
West and Central Africa, total 23,289 1,265,136
Gabon (*)575 16,020
Ghana (*)665 31,340
Liberia (*)141 25,094
Nigeria 3,010 477,184
Zaire (*)408 54,489
Other West and Central Africa 18,490 661,008
Southern Africa, total 43,461 402,271
Malawi (*)36 10,804
Zimbabwe (*)399 9,265
South Africa (including Namibia) 42,995 374,283
Zambia (*)11 3,824
Other Southern Africa (*)20 4,095
Africa not allocable (*)265 2,043
Asia, total 5,429,403 44,687,518
Middle East, total 165,258 3,230,112
Bahrain 1,515 200,404
Iran (*)3,269 8,217
Iraq (*)2 (*)917
Israel 27,513 413,742
Kuwait 10,589 75,554
Lebanon 13,891 89,137
Qatar 8,960 121,617
Saudi Arabia 61,738 1,443,970
United Arab Emirates 13,774 463,786
Other areas of the
Arabian Peninsula 5,950 279,372
Other Middle East 18,056 133,397
Southern and Southeast Asia, total 679,032 10,808,752
Bangladesh (*)3,489 47,408
India 18,480 706,923
Indonesia 24,706 2,341,320
Malaysia 61,778 1,021,912
Pakistan 4,579 286,924
Philippines 185,963 858,193
Singapore 315,004 4,122,679
Sri Lanka 1,183 32,905
Thailand 48,818 1,132,894
Vietnam 7,015 103,805
Other Southern and
Southeast Asia 8,016 153,789
Eastern Asia, total 4,051,561 29,433,527
China 75,457 1,282,392
Hong Kong 178,433 2,393,292
Japan 550,911 4,614,182
South Korea 2,245,166 18,558,376
Taiwan 201,575 1,798,843
Other Eastern Asia (*)800,019 786,442
Asia not allocable 533,551 1,215,127
Oceania, total 370,820 5,043,694
Australia 343,299 4,293,856
New Zealand 21,902 584,821
Other Oceania 5,619 165,016
Puerto Rico and U.S.
Possessions, total 302,875 3,614,064
Puerto Rico 169,627 2,973,109
U.S. Possessions, total 133,247 640,955
American Samoa (*)7,138 64,216
Guam 19,784 284,765
Virgin Islands (*)8,262 156,207
Other U.S. Possessions (*)98,063 135,767
Country not stated 10,117,889 27,378,821
Interest Charge-Domestic
International Sales
Corporation dividends(1) — —
Foreign Sales Corporation
dividends(1) — 3,320,900
Foreign income and taxes
reported on Form 1118
Selected country Deductions Taxable
from oil income
and gas (less loss)
extraction before
income(3) adjustments
(13) (14)
All countries 7,428,558 150,826,346
Canada 282,505 14,855,790
Latin America, total 1,018,439 15,326,814
Mexico (*)2,516 3,876,869
Central America, total (*)747 807,440
Belize (*)4 6,089
Costa Rica — 70,367
El Salvador — 45,566
Guatemala (*)97 62,755
Honduras — 18,131
Nicaragua — 11,941
Panama (*)646 583,422
Central America not allocable — (*)9,168
Caribbean countries, total (*)363,686 1,476,488
Cayman Islands (British) (*)5,125 834,454
Dominican Republic — 110,177
Haiti — 31,102
Jamaica — 100,316
Trinidad and Tobago (*)358,560 270,635
Other Caribbean countries — 129,804
South America, total 651,491 8,065,829
Argentina (*)92,858 2,232,517
Bolivia (*)1,206 15,969
Brazil (*)9 3,754,233
Chile (*)117,801 806,611
Colombia 299,775 669,492
Ecuador (*)45,528 5,623
Paraguay (*)1,174 28,739
Peru (*)64,035 253,770
Uruguay (*)8,305 27,733
Venezuela (*)20,798 287,441
Other South America (*)1 41,180
Latin America not allocable — 1,100,188
Other Western Hemisphere, total (*)3,909 2,806,053
Bahamas (*)19 483,885
Bermuda (*)2,293 1,828,121
Netherlands Antilles — 337,037
Other British West Indies — 140,918
All other Western Hemisphere (*)1,598 16,091
Europe, total 2,352,739 67,383,497
European Economic Community, total 1,631,484 56,083,846
Belgium (*)122 2,491,092
Denmark (*)206,787 393,482
France (including Andorra) (*)1,492 5,553,236
Germany (*)2,824 10,331,217
Greece — 355,960
Ireland (*)18 2,048,387
Italy (including San Marino) (*)7,090 4,527,372
Luxembourg — 241,683
Netherlands 138,868 8,207,156
Portugal — 304,079
Spain (*)7,960 1,684,925
United Kingdom 1,266,242 19,938,429
Other European Economic
Community (*)80 (*)6,827
Other West European countries,
total (*)522,879 7,980,517
Austria — 508,450
Finland — 306,248
Liechtenstein — 15,707
Monaco — 2,824
Norway (*)522,862 2,146,826
Sweden — 1,311,753
Switzerland — 3,319,959
Turkey (*)13 327,058
Other West European countries (*)3 28,373
West European countries
not allocable — (*)13,319
East European countries, total (*)198,377 954,764
Romania (*)2,937 13,887
Former Soviet Union (*)188,481 355,809
Other East Europe (*)6,960 585,067
Europe not allocable — 2,364,371
Africa, total 502,275 3,291,379
North Africa, total (*)52,179 742,794
Algeria (*)31,646 45,493
Egypt (*)15,960 631,665
Libya — (*)10,731
Morocco — 43,086
Other North Africa (*)4,574 11,819
East Africa, total (*)12 150,687
Ethiopia — 9,452
Kenya — 82,724
Tanzania — 3,874
Uganda — 3,054
Other East Africa (*)12 51,585
West and Central Africa, total 447,915 2,072,491
Gabon (*)5,318 95,322
Ghana — 71,830
Liberia — 75,877
Nigeria (*)258,831 1,416,176
Zaire (*)49,079 35,997
Other West and Central Africa (*)134,688 347,290
Southern Africa, total (*)2,168 323,826
Malawi — 4,550
Zimbabwe (*)72 27,465
South Africa (including Namibia) (*)2,096 269,299
Zambia — 1,797
Other Southern Africa — 20,716
Africa not allocable — 1,580
Asia, total 2,113,701 30,294,517
Middle East, total 932,156 1,552,534
Bahrain (*)14 122,409
Iran — -49
Iraq (*)2 (*)90
Israel — 230,600
Kuwait (*)4,614 21,623
Lebanon — 18,186
Qatar (*)5,426 28,821
Saudi Arabia (*)612,873 381,557
United Arab Emirates (*)155,157 250,081
Other areas of the
Arabian Peninsula (*)154,070 412,671
Other Middle East — 86,545
Southern and Southeast Asia, total 1,116,472 9,043,649
Bangladesh — 13,591
India (*)1 341,244
Indonesia 593,532 3,077,419
Malaysia (*)346,542 1,005,763
Pakistan (*)8,674 149,717
Philippines (*)59 832,143
Singapore (*)391 2,595,464
Sri Lanka — 8,342
Thailand (*)102,673 994,439
Vietnam (*)64,600 46,964
Other Southern and
Southeast Asia — 72,492
Eastern Asia, total (*)65,073 19,226,909
China (*)64,212 601,889
Hong Kong — 1,232,834
Japan — 2,684,259
South Korea (*)855 13,150,264
Taiwan (*)6 1,538,646
Other Eastern Asia — 19,015
Asia not allocable — 471,424
Oceania, total 387,265 6,189,906
Australia (*)341,354 4,979,429
New Zealand (*)1,411 1,059,632
Other Oceania (*)44,499 150,845
Puerto Rico and U.S.
Possessions, total (*)266 480,264
Puerto Rico (*)115 240,812
U.S. Possessions, total (*)151 239,451
American Samoa — 1,280
Guam (*)151 97,829
Virgin Islands — 120,511
Other U.S. Possessions — 19,831
Country not stated 767,460 10,163,858
Interest Charge-Domestic
International Sales
Corporation dividends(1) — (*)4,624
Foreign Sales Corporation
dividends(1) — 29,647
Foreign income and taxes
reported on Form 1118
Foreign taxes paid, accrued,
and deemed paid
Foreign
taxes paid
or accrued
Selected country Total Total
(15) (16)
All countries 41,177,403 14,385,591
Canada 4,645,453 887,472
Latin America, total 3,736,552 1,999,207
Mexico 690,083 277,161
Central America, total 131,072 46,866
Belize (*)1,151 (*)245
Costa Rica 11,497 8,409
El Salvador 4,687 3,060
Guatemala 18,536 16,567
Honduras 7,018 3,552
Nicaragua (*)261 (*)261
Panama 86,478 13,327
Central America not allocable (*)1,445 (*)1,445
Caribbean countries, total 205,911 117,287
Cayman Islands (British) 61,704 —
Dominican Republic 28,187 11,338
Haiti (*)5,203 (*)5,203
Jamaica 9,450 8,105
Trinidad and Tobago 98,512 91,521
Other Caribbean countries 2,855 1,120
South America, total 2,709,482 1,557,889
Argentina 682,157 318,152
Bolivia 2,677 2,219
Brazil 1,156,670 539,202
Chile 358,762 320,698
Colombia 302,392 258,493
Ecuador 13,154 8,119
Paraguay 8,176 5,322
Peru 70,142 30,857
Uruguay 10,319 5,776
Venezuela 90,684 54,701
Other South America (*)14,349 (*)14,349
Latin America not allocable (*)4 (*)4
Other Western Hemisphere, total 185,163 6,814
Bahamas 16,763 —
Bermuda 107,189 (*)65
Netherlands Antilles 40,086 (*)393
Other British West Indies 14,780 1,832
All other Western Hemisphere (*)6,344 (*)4,524
Europe, total 18,333,992 4,275,494
European Economic Community, total 15,208,042 3,056,213
Belgium 508,146 93,323
Denmark 97,522 52,921
France (including Andorra) 1,413,756 210,231
Germany 3,267,175 369,587
Greece 62,892 44,233
Ireland 138,529 20,736
Italy (including San Marino) 1,620,377 355,387
Luxembourg 43,491 5,830
Netherlands 2,633,571 250,444
Portugal 102,499 35,858
Spain 500,582 202,441
United Kingdom 4,819,503 1,415,219
Other European Economic
Community — —
Other West European countries,
total 2,529,374 1,150,124
Austria 234,191 30,838
Finland 34,761 8,807
Liechtenstein (*)1,044 (*)42
Monaco (*)1,009 (*)782
Norway 882,462 839,525
Sweden 322,350 62,818
Switzerland 975,196 182,981
Turkey 75,028 22,725
Other West European countries 3,332 (*)1,607
West European countries
not allocable — —
East European countries, total 147,983 68,011
Romania 989 988
Former Soviet Union 53,948 46,520
Other East Europe 93,045 20,503
Europe not allocable (*)448,593 (*)1,145
Africa, total 1,203,452 706,055
North Africa, total 319,751 297,351
Algeria (*)53,884 (*)53,884
Egypt 244,275 232,229
Libya (*)3,544 (*)3,544
Morocco 10,334 3,543
Other North Africa 7,714 (*)4,152
East Africa, total 35,618 13,222
Ethiopia (*)2,093 (*)2,093
Kenya 23,882 10,300
Tanzania (*)710 (*)37
Uganda (*)1,280 (*)304
Other East Africa 7,653 488
West and Central Africa, total 746,523 361,106
Gabon 3,905 (*)1,865
Ghana (*)25,828 (*)4,373
Liberia (*)6,051 —
Nigeria 386,791 191,091
Zaire (*)13,691 (*)13,136
Other West and Central Africa 310,257 150,641
Southern Africa, total 99,640 32,455
Malawi (*)1,058 (*)28
Zimbabwe 14,647 1,991
South Africa (including Namibia) 77,074 27,569
Zambia (*)244 (*)225
Other Southern Africa (*)6,616 (*)2,643
Africa not allocable (*)1,920 (*)1,920
Asia, total 10,126,296 4,780,456
Middle East, total 643,998 498,810
Bahrain (*)103 —
Iran — —
Iraq — —
Israel 49,410 31,076
Kuwait 9,574 9,227
Lebanon 822 764
Qatar (*)1,219 (*)1,219
Saudi Arabia 244,991 228,477
United Arab Emirates 71,189 62,164
Other areas of the
Arabian Peninsula 147,738 147,733
Other Middle East 18,950 18,150
Southern and Southeast Asia, total 2,965,426 2,048,131
Bangladesh (*)9,256 (*)9,118
India 150,501 122,096
Indonesia 1,430,915 1,107,403
Malaysia 383,078 293,353
Pakistan 61,526 58,095
Philippines 238,334 140,974
Singapore 277,336 157,956
Sri Lanka 3,576 2,657
Thailand 396,252 144,044
Vietnam 617 617
Other Southern and
Southeast Asia 14,034 (*)11,819
Eastern Asia, total 6,608,301 2,224,944
China 54,549 46,982
Hong Kong 303,632 192,671
Japan 484,434 202,157
South Korea 5,396,144 1,552,309
Taiwan 369,541 230,825
Other Eastern Asia — —
Asia not allocable (*)8,571 (*)8,571
Oceania, total 2,152,664 1,135,090
Australia 1,743,647 963,804
New Zealand 329,305 102,299
Other Oceania 79,712 68,988
Puerto Rico and U.S.
Possessions, total 279,094 187,213
Puerto Rico 236,760 154,474
U.S. Possessions, total 42,334 32,739
American Samoa (*)659 (*)659
Guam 19,445 16,447
Virgin Islands 17,302 15,222
Other U.S. Possessions (*)4,928 (*)410
Country not stated 514,736 407,789
Interest Charge-Domestic
International Sales
Corporation dividends(1) — —
Foreign Sales Corporation
dividends(1) — —
Foreign income and taxes
reported on Form 1118
Foreign taxes paid, accrued,
and deemed paid
Foreign taxes paid or accrued
Taxes withheld at source on–
Selected country Dividends Interest
(17) (18)
All countries 2,543,654 540,763
Canada 299,175 87,561
Latin America, total 300,344 158,356
Mexico 1,414 36,565
Central America, total 6,376 678
Belize — —
Costa Rica (*)1,111 (*)56
El Salvador — (*)300
Guatemala 575 226
Honduras (*)15 (*)16
Nicaragua — (*)41
Panama 4,647 (*)40
Central America not allocable (*)27 —
Caribbean countries, total 2,536 762
Cayman Islands (British) — —
Dominican Republic (*)864 (*)50
Haiti — —
Jamaica (*)256 (*)443
Trinidad and Tobago (*)1,096 (*)84
Other Caribbean countries (*)319 (*)214
South America, total 290,015 120,351
Argentina 31,521 26,609
Bolivia (*)201 (*)163
Brazil 175,861 86,416
Chile 65,131 2,475
Colombia 11,081 (*)153
Ecuador (*)336 (*)163
Paraguay (*)19 (*)242
Peru (*)5,623 (*)251
Uruguay (*)131 (*)60
Venezuela (*)110 3,819
Other South America — —
Latin America not allocable (*)3 —
Other Western Hemisphere, total (*)293 (*)1,472
Bahamas — —
Bermuda (*)1 —
Netherlands Antilles (*)137 —
Other British West Indies (*)148 —
All other Western Hemisphere (*)8 (*)1,472
Europe, total 1,292,960 111,787
European Economic Community, total 1,072,248 90,816
Belgium 25,482 3,635
Denmark 6,267 (*)-12
France (including Andorra) 87,289 11,352
Germany 220,948 (*)213
Greece (*)10 (*)4
Ireland 12,931 (*)707
Italy (including San Marino) 59,531 38,573
Luxembourg 5,177 —
Netherlands 157,436 856
Portugal 15,256 423
Spain 59,393 3,723
United Kingdom 422,527 31,341
Other European Economic
Community — —
Other West European countries,
total 217,760 12,782
Austria 23,634 (*)4
Finland 3,300 (*)172
Liechtenstein (*)42 —
Monaco — —
Norway 5,798 (*)29
Sweden 43,435 (*)5,401
Switzerland 141,546 (*)4,672
Turkey (*)4 (*)2,503
Other West European countries — —
West European countries
not allocable — —
East European countries, total 2,950 (*)7,166
Romania — (*)2
Former Soviet Union (*)641 (*)7,110
Other East Europe 2,109 (*)54
Europe not allocable (*)3 (*)1,023
Africa, total 14,993 201
North Africa, total (*)911 (*)109
Algeria — —
Egypt (*)11 —
Libya — —
Morocco (*)825 (*)109
Other North Africa (*)76 —
East Africa, total 1,416 (*)64
Ethiopia — —
Kenya (*)897 (*)27
Tanzania — (*)37
Uganda (*)304 —
Other East Africa (*)215 —
West and Central Africa, total 7,801 (*)23
Gabon (*)680 (*)1
Ghana (*)4,179 (*)6
Liberia — —
Nigeria (*)1,826 (*)17
Zaire (*)153 —
Other West and Central Africa (*)964 —
Southern Africa, total 3,038 (*)4
Malawi (*)28 —
Zimbabwe (*)1,329 (*)1
South Africa (including Namibia) 1,205 (*)3
Zambia (*)43 —
Other Southern Africa (*)433 —
Africa not allocable (*)1,826 —
Asia, total 464,790 97,256
Middle East, total 8,473 638
Bahrain — —
Iran — —
Iraq — —
Israel 8,292 442
Kuwait — —
Lebanon (*)23 (*)8
Qatar — —
Saudi Arabia (*)147 (*)117
United Arab Emirates — —
Other areas of the
Arabian Peninsula — —
Other Middle East (*)11 (*)72
Southern and Southeast Asia, total 128,333 74,225
Bangladesh — —
India 5,627 938
Indonesia 65,284 57,115
Malaysia 3,516 878
Pakistan 405 (*)32
Philippines 31,913 11,508
Singapore 1,767 2,147
Sri Lanka (*)258 (*)1
Thailand 19,564 1,564
Vietnam — —
Other Southern and
Southeast Asia — (*)42
Eastern Asia, total 325,188 22,393
China (*)677 2,158
Hong Kong 67,704 5,941
Japan 854 (*)67
South Korea 229,699 13,304
Taiwan 26,255 923
Other Eastern Asia — —
Asia not allocable (*)2,795 —
Oceania, total 87,828 21,818
Australia 15,451 18,275
New Zealand 71,012 1,058
Other Oceania (*)1,365 (*)2,484
Puerto Rico and U.S.
Possessions, total 10,875 14,760
Puerto Rico 10,836 7,986
U.S. Possessions, total (*)39 (*)6,774
American Samoa (*)8 —
Guam — —
Virgin Islands (*)32 (*)6,597
Other U.S. Possessions — (*)177
Country not stated 72,396 47,553
Interest Charge-Domestic
International Sales
Corporation dividends(1) — —
Foreign Sales Corporation
dividends(1) — —
Foreign income and taxes
reported on Form 1118
Foreign taxes paid, accrued,
and deemed paid
Foreign taxes paid or accrued
Taxes Other
withheld taxes
at source paid or
on– accrued on–
Selected country Rents, Branch
royalties, income
fees
(19) (20)
All countries 1,994,254 5,550,340
Canada 92,965 254,664
Latin America, total 291,654 451,059
Mexico 70,621 101,291
Central America, total 11,259 22,640
Belize — (*)244
Costa Rica 3,719 (*)2,833
El Salvador 1,139 (*)1,522
Guatemala 3,011 (*)8,961
Honduras 748 (*)1,774
Nicaragua (*)154 (*)45
Panama 2,488 5,843
Central America not allocable (*)1 (*)1,417
Caribbean countries, total 2,225 24,052
Cayman Islands (British) — —
Dominican Republic 1,191 (*)8,898
Haiti (*)2 (*)1,072
Jamaica 653 (*)5,652
Trinidad and Tobago 265 (*)8,117
Other Caribbean countries (*)114 (*)312
South America, total 207,547 303,077
Argentina 56,949 113,003
Bolivia (*)183 (*)1,213
Brazil 89,442 96,042
Chile 20,201 (*)10,716
Colombia 12,276 35,622
Ecuador 4,037 (*)1,538
Paraguay 201 (*)4,779
Peru 4,670 4,803
Uruguay 2,428 (*)2,909
Venezuela 17,146 18,117
Other South America (*)15 (*)14,334
Latin America not allocable (*)1 —
Other Western Hemisphere, total (*)131 (*)4,180
Bahamas — —
Bermuda — —
Netherlands Antilles — (*)257
Other British West Indies (*)28 (*)982
All other Western Hemisphere (*)103 (*)2,941
Europe, total 356,482 1,898,332
European Economic Community, total 317,278 1,037,239
Belgium 5,347 14,438
Denmark (*)7 (*)44,931
France (including Andorra) 63,978 34,818
Germany 2,238 110,397
Greece 1,390 42,806
Ireland (*)194 (*)4,865
Italy (including San Marino) 118,449 103,613
Luxembourg (*)6 (*)508
Netherlands 7,288 40,034
Portugal 13,033 (*)6,021
Spain 91,676 40,740
United Kingdom 13,674 594,067
Other European Economic
Community — —
Other West European countries,
total 25,105 828,773
Austria 1,843 (*)4,716
Finland 5,083 (*)89
Liechtenstein — —
Monaco — (*)630
Norway (*)142 (*)786,513
Sweden (*)5,145 (*)2,211
Switzerland (*)143 29,894
Turkey 12,660 (*)4,705
Other West European countries (*)88 (*)16
West European countries
not allocable — —
East European countries, total 14,099 32,210
Romania (*)699 (*)2
Former Soviet Union 770 (*)29,238
Other East Europe 12,630 (*)2,970
Europe not allocable — (*)110
Africa, total 24,687 384,911
North Africa, total 2,863 65,919
Algeria (*)108 (*)42,898
Egypt 2,238 (*)17,708
Libya — —
Morocco 494 (*)1,345
Other North Africa (*)24 (*)3,968
East Africa, total (*)224 (*)5,543
Ethiopia — (*)2,093
Kenya (*)144 (*)3,383
Tanzania — —
Uganda — —
Other East Africa (*)80 (*)67
West and Central Africa, total 1,947 309,639
Gabon — (*)1,184
Ghana (*)2 —
Liberia — —
Nigeria (*)880 (*)182,156
Zaire — (*)12,983
Other West and Central Africa (*)1,065 (*)113,316
Southern Africa, total 19,652 (*)3,809
Malawi — —
Zimbabwe 257 (*)122
South Africa (including Namibia) 17,186 (*)3,506
Zambia — (*)181
Other Southern Africa (*)2,210 —
Africa not allocable — —
Asia, total 1,026,005 2,142,776
Middle East, total 23,690 224,438
Bahrain — —
Iran — —
Iraq — —
Israel 18,509 (*)53
Kuwait (*)390 (*)8,251
Lebanon (*)57 (*)668
Qatar (*)37 (*)1,180
Saudi Arabia 4,136 160,079
United Arab Emirates (*)29 (*)35,432
Other areas of the
Arabian Peninsula (*)456 (*)1,451
Other Middle East (*)75 (*)17,324
Southern and Southeast Asia, total 164,180 1,073,828
Bangladesh — (*)7,449
India 10,210 (*)94,854
Indonesia 10,911 680,935
Malaysia 16,407 19,271
Pakistan (*)5,133 (*)52,086
Philippines 12,339 69,756
Singapore 83,511 60,503
Sri Lanka (*)71 (*)2,041
Thailand 25,417 75,486
Vietnam (*)99 (*)262
Other Southern and
Southeast Asia (*)82 (*)11,184
Eastern Asia, total 837,574 839,767
China 24,757 10,564
Hong Kong 47,821 62,457
Japan 5,003 77,781
South Korea 640,479 623,631
Taiwan 119,514 65,334
Other Eastern Asia — —
Asia not allocable (*)561 (*)4,743
Oceania, total 79,240 250,086
Australia 67,088 234,770
New Zealand 11,854 13,228
Other Oceania (*)298 (*)2,087
Puerto Rico and U.S.
Possessions, total 12,905 95,943
Puerto Rico 12,377 77,520
U.S. Possessions, total (*)528 18,423
American Samoa — (*)307
Guam (*)3 13,526
Virgin Islands (*)525 4,357
Other U.S. Possessions — (*)233
Country not stated 110,185 68,390
Interest Charge-Domestic
International Sales
Corporation dividends(1) — —
Foreign Sales Corporation
dividends(1) — —
Foreign income and taxes
reported on Form 1118
Foreign taxes paid, accrued,
and deemed paid
Foreign taxes paid or accrued
Other taxes paid or
accrued on–
Selected country Specifically Service
allocable income
income
[section
863(b)]
(21) (22)
All countries 4,600 315,733
Canada (*)189 16,689
Latin America, total (*)249 68,518
Mexico (*)38 13,154
Central America, total — 4,814
Belize — (*)1
Costa Rica — (*)135
El Salvador — (*)68
Guatemala — (*)3,753
Honduras — (*)743
Nicaragua — (*)4
Panama — (*)110
Central America not allocable — —
Caribbean countries, total — 5,393
Cayman Islands (British) — —
Dominican Republic — (*)103
Haiti — —
Jamaica — (*)1,060
Trinidad and Tobago — (*)4,071
Other Caribbean countries — (*)160
South America, total (*)211 45,157
Argentina — 17,009
Bolivia — (*)301
Brazil (*)211 5,849
Chile — 1,142
Colombia — 6,204
Ecuador — (*)472
Paraguay — —
Peru — 1,416
Uruguay — (*)109
Venezuela — 12,655
Other South America — —
Latin America not allocable — —
Other Western Hemisphere, total (*)194 (*)531
Bahamas — —
Bermuda — (*)64
Netherlands Antilles — —
Other British West Indies (*)194 (*)467
All other Western Hemisphere — —
Europe, total (*)753 83,010
European Economic Community, total (*)632 69,787
Belgium — (*)3,804
Denmark — (*)1,538
France (including Andorra) — 830
Germany — (*)24,671
Greece — (*)2
Ireland — (*)1,877
Italy (including San Marino) (*)8 2,847
Luxembourg — (*)123
Netherlands — (*)5,513
Portugal — (*)772
Spain (*)4 1,946
United Kingdom (*)620 25,863
Other European Economic
Community — —
Other West European countries,
total — 9,893
Austria — (*)439
Finland — (*)1
Liechtenstein — —
Monaco — (*)151
Norway — (*)520
Sweden — (*)3,265
Switzerland — (*)3,402
Turkey — 2,114
Other West European countries — (*)2
West European countries
not allocable — —
East European countries, total (*)121 3,331
Romania — (*)286
Former Soviet Union (*)121 905
Other East Europe — 2,139
Europe not allocable — —
Africa, total — 24,827
North Africa, total — (*)12,420
Algeria — (*)10,679
Egypt — (*)1,427
Libya — —
Morocco — (*)44
Other North Africa — (*)70
East Africa, total — (*)403
Ethiopia — —
Kenya — (*)403
Tanzania — —
Uganda — —
Other East Africa — —
West and Central Africa, total — 7,799
Gabon — —
Ghana — (*)159
Liberia — —
Nigeria — (*)6,155
Zaire — —
Other West and Central Africa — (*)1,484
Southern Africa, total — (*)4,206
Malawi — —
Zimbabwe — (*)282
South Africa (including Namibia) — (*)3,924
Zambia — —
Other Southern Africa — —
Africa not allocable — —
Asia, total (*)938 75,897
Middle East, total — 10,038
Bahrain — —
Iran — —
Iraq — —
Israel — (*)362
Kuwait — —
Lebanon — (*)8
Qatar — (*)3
Saudi Arabia — 8,361
United Arab Emirates — —
Other areas of the
Arabian Peninsula — (*)829
Other Middle East — (*)476
Southern and Southeast Asia, total (*)389 35,874
Bangladesh — (*)1,613
India (*)8 7,935
Indonesia — 3,440
Malaysia (*)29 3,590
Pakistan — (*)377
Philippines — 3,684
Singapore (*)352 1,597
Sri Lanka — (*)287
Thailand — 12,926
Vietnam — (*)256
Other Southern and
Southeast Asia — (*)170
Eastern Asia, total (*)549 29,661
China — 1,223
Hong Kong — 5,109
Japan (*)180 (*)385
South Korea (*)283 13,159
Taiwan (*)85 9,785
Other Eastern Asia — —
Asia not allocable — (*)323
Oceania, total — 7,083
Australia — 4,772
New Zealand — 2,223
Other Oceania — (*)88
Puerto Rico and U.S.
Possessions, total (*)79 9,990
Puerto Rico (*)79 9,155
U.S. Possessions, total — 834
American Samoa — —
Guam — (*)608
Virgin Islands — (*)226
Other U.S. Possessions — —
Country not stated (*)2,198 29,189
Interest Charge-Domestic
International Sales
Corporation dividends(1) — —
Foreign Sales Corporation
dividends(1) — —
Foreign income and taxes
reported on Form 1118
Foreign taxes paid, accrued,
and deemed paid
Foreign
taxes paid
or accrued
Other
taxes paid
or accrued
on–
Selected country Other Taxes
income deemed
paid
(23) (24)
All countries 3,436,246 26,791,812
Canada 136,230 3,757,980
Latin America, total 729,028 1,737,345
Mexico 54,079 412,922
Central America, total 1,099 84,206
Belize — (*)906
Costa Rica (*)554 3,088
El Salvador (*)32 (*)1,626
Guatemala (*)41 1,969
Honduras (*)255 (*)3,466
Nicaragua (*)18 —
Panama 199 73,151
Central America not allocable — —
Caribbean countries, total (*)82,319 88,624
Cayman Islands (British) — 61,704
Dominican Republic (*)231 16,648
Haiti (*)4,128 —
Jamaica (*)42 (*)1,345
Trinidad and Tobago (*)77,918 (*)6,991
Other Caribbean countries — 1,736
South America, total 591,530 1,151,593
Argentina 73,063 364,005
Bolivia (*)158 (*)458
Brazil 85,380 617,468
Chile 221,033 38,065
Colombia 193,157 43,899
Ecuador (*)1,573 5,035
Paraguay (*)81 (*)2,854
Peru 14,093 39,285
Uruguay (*)138 4,543
Venezuela 2,854 35,983
Other South America — —
Latin America not allocable — —
Other Western Hemisphere, total (*)12 178,349
Bahamas — 16,763
Bermuda — 107,124
Netherlands Antilles — 39,693
Other British West Indies (*)12 12,948
All other Western Hemisphere — (*)1,820
Europe, total 532,169 14,058,499
European Economic Community, total 468,214 12,151,829
Belgium 40,616 414,823
Denmark (*)190 44,601
France (including Andorra) 11,964 1,203,524
Germany 11,120 2,897,587
Greece (*)21 18,659
Ireland (*)163 117,793
Italy (including San Marino) 32,366 1,264,989
Luxembourg (*)15 37,661
Netherlands 39,317 2,383,127
Portugal 354 66,641
Spain 4,959 298,141
United Kingdom 327,128 3,404,283
Other European Economic
Community — —
Other West European countries,
total 55,811 1,379,249
Austria (*)202 203,353
Finland (*)162 25,954
Liechtenstein — (*)1,002
Monaco — (*)227
Norway (*)46,523 42,938
Sweden 3,360 259,533
Switzerland 3,325 792,215
Turkey (*)739 52,302
Other West European countries (*)1,500 (*)1,725
West European countries
not allocable — —
East European countries, total 8,134 79,972
Romania — (*)1
Former Soviet Union (*)7,533 7,428
Other East Europe (*)600 72,543
Europe not allocable (*)10 (*)447,448
Africa, total 256,437 497,397
North Africa, total 215,129 22,400
Algeria — —
Egypt (*)210,846 12,046
Libya (*)3,544 —
Morocco (*)725 (*)6,791
Other North Africa (*)14 (*)3,563
East Africa, total (*)5,572 22,395
Ethiopia — —
Kenya (*)5,446 13,582
Tanzania — (*)673
Uganda — (*)976
Other East Africa (*)127 (*)7,164
West and Central Africa, total (*)33,896 385,417
Gabon — (*)2,041
Ghana (*)27 (*)21,455
Liberia — (*)6,051
Nigeria (*)57 195,699
Zaire — (*)555
Other West and Central Africa (*)33,812 (*)159,616
Southern Africa, total 1,746 67,185
Malawi — (*)1,030
Zimbabwe 12,656
South Africa (including Namibia) 1,746 49,505
Zambia — (*)19
Other Southern Africa — (*)3,974
Africa not allocable — —
Asia, total 972,794 5,345,840
Middle East, total 231,532 45,188
Bahrain — (*)103
Iran — —
Iraq — —
Israel 3,418 18,334
Kuwait (*)585 (*)347
Lebanon — (*)58
Qatar — —
Saudi Arabia (*)55,636 16,514
United Arab Emirates (*)26,702 (*)9,025
Other areas of the
Arabian Peninsula (*)144,997 (*)5
Other Middle East (*)193 (*)800
Southern and Southeast Asia, total 571,301 917,295
Bangladesh (*)56 (*)138
India 2,524 28,405
Indonesia 289,718 323,512
Malaysia 249,662 89,725
Pakistan (*)61 3,431
Philippines 11,773 97,361
Singapore 8,079 119,380
Sri Lanka — (*)919
Thailand 9,087 252,209
Vietnam — —
Other Southern and
Southeast Asia (*)340 (*)2,215
Eastern Asia, total 169,811 4,383,357
China 7,603 7,567
Hong Kong 3,640 110,961
Japan 117,886 282,277
South Korea 31,754 3,643,835
Taiwan 8,928 138,716
Other Eastern Asia — —
Asia not allocable (*)149 —
Oceania, total 689,036 1,017,574
Australia 623,448 779,643
New Zealand 2,923 227,006
Other Oceania (*)62,665 10,724
Puerto Rico and U.S.
Possessions, total 42,661 91,882
Puerto Rico 36,521 82,286
U.S. Possessions, total 6,140 9,595
American Samoa (*)345 —
Guam 2,310 (*)2,998
Virgin Islands 3,485 (*)2,080
Other U.S. Possessions — (*)4,518
Country not stated 77,879 106,947
Interest Charge-Domestic
International Sales
Corporation dividends(1) — —
Foreign Sales Corporation
dividends(1) — —
(*) Data should be used with caution because of the small number of returns on which they are based.
(1) Dividends from an Interest Charge-Domestic International Sales Corporation or a Foreign Sales Corporation were not reported for specific foreign countries.
(2) Included in gross income (less loss), columns 2-8. See text for additional information.
(3) Included in total deductions, column 12. See text for additional information.
NOTES: Detail may not add to totals due to rounding and processing tolerances.
Explanation of Selected Terms
Adjustments to Taxable Income.–This includes several types of adjustments reported on Schedule J of Form 1118, Computation of Foreign Tax Credit–Corporations. These include the allocation of current-year foreign-source losses, overall foreign losses, and current-year U.S.-source losses, as well as the recapture of prior-year overall foreign losses and recharacterization of prior-year foreign-source losses. The net effect of these adjustments is reported in column 38 of Table 1 and column 24 of Table 2.
Carryover of Foreign Taxes.–Under Internal Revenue Code section 904, U.S. persons are allowed a 2-year carryback and a 5-year carryforward of “excess” foreign taxes for purposes of computing the foreign tax credit for those years. Such taxes were included in the current-year credit to the extent that they did not exceed the credit limitations for the current year. The 1996 statistics shown in this article include only those taxes carried forward to 1996 from previous years. See column 42 of Table 1 and column 28 of Table 2.
Controlled Foreign Corporation.–Under Internal Revenue Code section 957, a foreign corporation is a “Controlled Foreign Corporation” if more than 50 percent of its outstanding voting stock, or more than 50 percent of the value of all its outstanding stock, is owned (directly, indirectly, or constructively) by “U.S. shareholders” on any day during the foreign corporation’s tax year. A “U.S. shareholder” for these purposes is a U.S. person (defined below) who owns 10 percent or more of the foreign corporation’s total combined voting stock. Ownership attribution rules are provided in Code section 958.
Current-Year Foreign Taxes.–The current-year foreign taxes include foreign taxes paid, accrued, or deemed paid (defined below) and are reported in column 43 of Table 1, column 29 of Table 2, and column 15 of Table 3. Current-year foreign taxes do not include any carryback or carryforward of foreign taxes from subsequent or prior tax years.
Financial Services Income. Financial services income includes income (as well as “passive income,” defined below) produced in the active conduct of a banking, insurance, financing, or similar business, and certain types of insurance investment income. Financial services income does not include “high withholding tax interest” or dividends from a “noncontrolled” foreign corporation. For corporations with financial services income, “export financing interest” (defined above) is subject to special rules under section 904(d) of the Internal Revenue Code. This separate limitation category is included in Table 2.
Foreign Dividend Income Resulting from Foreign Taxes Deemed Paid (Gross-up).–U.S. corporations may take an “indirect” foreign tax credit for taxes paid by a related foreign corporation (generally owned 10 percent or more by the U.S. corporation). Under Internal Revenue Code section 78, these taxes are “deemed paid” by the U.S. corporation under sections 902 and 960(a) with respect to distributions by a foreign corporation and must be included in income as a “dividend gross-up.” This item is shown in columns 7 and 18 of Table 1 and column 4 of Tables 2 and 3.
Foreign Oil and Gas Extraction Income (FOGEI) and Foreign Oil-Related Income (FORI).–FOGEI is income related to the extraction of oil and gas, as well as to the sale of assets used in the business, related services, working capital, dividend and partnership distributions, and other oil and gas extraction income. FORI is related to the processing, transporting, selling, or distributing of oil and gas products, rather than to oil and gas extraction.
Foreign Sales Corporation.–A Foreign Sales Corporation (FSC) is a company incorporated abroad, created for U.S. exports, and usually controlled by a U.S. person (defined below). A portion of the FSC’s “foreign trade income” is exempt from U.S. taxation.
Foreign-Source Taxable Income.–Foreign-source taxable income is equal to foreign gross income (less loss) less deductions and is reported on Schedule A, Separate Limitation Income or (Loss) Before Adjustments, of Form 1118. Adjustments to foreign-source taxable income include allocations of current-year U.S.-source losses and recapture of foreign losses, as well as other adjustments. Foreign-source taxable income is reported as “foreign taxable income (less loss) before adjustments” in Table 1, column 37, Table 2, column 23, and Table 3, column 14. “Foreign taxable income (less loss) after adjustment” is also shown in Table 1, column 39, and Table 2, column 25.
High Withholding Tax Interest.–High withholding tax interest is interest subject to foreign withholding tax of at least 5 percent. “Export financing interest” cannot be classified as high withholding tax interest. This separate limitation category is included in Table 2.
Includable Income of Controlled Foreign Corporations.–This is the U.S. parent’s total pro rata share of income constructively received under Subpart F rules. As such, it consists of Subpart F income (defined below), increases in earnings invested in U.S. property, certain previously excluded Subpart F income, and factoring income. See column 6 of Table 1.
Income Related to Section 901(j).–Internal Revenue Code section 901(j) denies the use of foreign tax credit provisions for taxes paid to foreign governments that the United States does not recognize or with whom the United States has severed diplomatic ties. For 1996, these sanctioned countries were Afghanistan, Cuba, Iran, Iraq, Libya, North Korea, Sudan, and Syria. However, taxpayers do occasionally report income from these countries as shown in Table 3. Associated taxes are not creditable and are included in Table 2, column 27.
Income Related to Section 904(g).–Internal Revenue Code section 904(g) generally allows certain income (primarily interest and dividends) that otherwise would have been treated as U.S.-source income to be treated as foreign-source income for the purposes of calculating the foreign tax credit.
Income Subject to U.S. Tax.–Income subject to U.S. tax, or the corporate tax base (“worldwide taxable income”), is generally equal to net income minus certain statutory nonbusiness deductions. See column 9 of Table 1.
Interest Charge-Domestic International Sales Corporation.–Interest Charge-Domestic International Sales Corporations (IC-DISC’s) are certain small domestic corporations formed to export U.S. products. To elect IC-DISC status, at least 95 percent of a domestic corporation’s gross receipts must be “qualified export receipts,” and at least 95 percent of its assets must be “qualified export assets.”
Noncontrolled Section 902 Foreign Corporation Dividends.–A foreign corporation is classified as noncontrolled if at least 10 percent of its stock was owned by one U.S. taxpayer and, collectively, U.S. taxpayers owned 50 percent or less of its stock. This separate limitation category is included in Table 2.
OPEC Countries.–The members of the Organization of Petroleum Exporting Countries (OPEC) for 1996 were: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.
Passive Income.–Passive income generally includes such income as dividends, interest, rents, and royalties not connected with the active conduct of a trade or business. The passive income category does not include any “export financing interest,” any income taxed at a rate higher than the highest U.S. tax rate, any foreign “oil and gas extraction income,” or any income that could be classified under any other category (except the “all other” income category). This separate limitation category is included in Table 2.
Shipping Income.–Shipping income is generally income obtained from the use (or leasing for use) of a vessel or aircraft in foreign commerce, income from directly-related services, gains on the sale or exchange of a vessel or aircraft used in the performance of such services, and income generated from other space and oceanic activities. Income that would be “foreign base company shipping income” for purposes of determining the income constructively received from Controlled Foreign Corporations for U.S. taxation purposes (under Internal Revenue Code section 954(f)) is also classified as shipping income. This separate limitation category is included in Table 2.
Specifically Allocable Income.–Internal Revenue Code section 863(b) provides special rules for determining taxable income from sources outside the United States with respect to gross income derived partly within and partly outside the United States. The income apportioned to sources outside the United States under these special rules is commonly referred to as “Section 863(b) income” and is shown in Table 1, column 25 and Tables 2 and 3, column 11.
Subpart F Income.–For 1996, Subpart F of the Internal Revenue Code required certain U.S. shareholders of Controlled Foreign Corporations (CFC’s) to include in their gross incomes the shareholder’s ratable share of the CFC’s: (1) Subpart F income, (2) increase in earnings invested in U.S. property, (3) previously excluded Subpart F income withdrawn from “qualified investments” in less developed countries and in “foreign base company” shipping operations, and (4) factoring income. The Subpart F income of a CFC included: (1) certain insurance income, (2) “foreign base company” income, (3) international boycott participation income, (4) illegal bribes and other payments made to government officials that would be unlawful under the Foreign Corrupt Practices Act of 1977, and (5) income derived from a country, which is not recognized by the United States, with which the United States does not conduct or has severed diplomatic relations, or which repeatedly provides support for acts of international terrorism.
Taxes Deemed Paid.–A U.S. corporation, which received actual or constructive dividends from a related foreign subsidiary, is allowed to include a portion of the foreign taxes paid by the subsidiary for purposes of determining the foreign tax credit. The foreign taxes paid by the foreign subsidiary are considered to be indirectly, or deemed, paid by the related U.S. corporation. See column 52 of Table 1, column 38 of Table 2, and column 24 of Table 3.
U.S. Person.–A U.S. person is any citizen or resident of the United States, domestic partnership, corporation, association, company, or any estate or trust that is not considered “foreign.” See Internal Revenue Code section 7701 for more information on the definition of a U.S. person.
Notes and References
[1] Except where noted otherwise, foreign-source taxable income refers to foreign-source taxable income (less loss) before adjustments made on Form 1118, Schedule J. Foreign- source taxable income before adjustments is shown in column 37 of Table 1, column 23 of Table 2, and column 14 of Table 3.
[2] The recognition of active earnings and profits of a foreign subsidiary by the U.S. parent corporation is deferred, for U.S. tax purposes, until they are distributed or deemed distributed.
[3] Corporations may also choose to deduct their taxes paid on foreign-source income. For most corporations, however, the foreign tax credit provisions are more beneficial since they offer a dollar for dollar credit up to certain limitations.
[4] Because tax returns for FSC’s were not included in the sample used for the statistics, this income category is not included. However, distributions from FSC’s or former FSC’s are reported on the parent corporation’s return and are included in these statistics when provided by taxpayers. In this study, this particular statutory category is used when corporations report an anomalous separate category of income that is otherwise unsuited for one of the existing categories of income.
[5] See States, William “Corporate Foreign Tax Credit, 1980: An Industry Focus,” Statistics of Income Bulletin, Summer 1984, Volume 4, Number 1.
[6] The foreign tax credit is then also subject to a reduction on Form 1118, Schedule B, Part III for international boycott operations. This amount, however, is minor. This reduction, once in excess of $2.7 million in the late 1970’s, is now approximately $116,000 for 1996.
[7] The foreign tax credit limitation provisions can render part or all of the foreign taxes “unusable” under several conditions. Most commonly, the effective foreign tax rate on foreign-source income could be in excess of the U.S. tax rate or the corporation could have either an overall loss (and thus no denominator in the limitation calculation) or a foreign-source loss (and thus no numerator). The unusable current-year taxes can be carried forward or carried back subject to the applicable provisions of the carry-to year.
[8] The income, deductions, and taxes related to foreign oil and gas extraction income (FOGEI) are reported on Schedule I, Reduction of Oil and Gas Extraction Taxes, of Form 1118, Foreign Tax Credit–Corporations. To claim the credit, the taxpayer must separate oil and gas income into two categories based on the activity producing the income: foreign oil and gas extraction income (FOGEI) and foreign oil-related income (FORI). See the Explanation of Selected Terms section for further definitions of these two classifications.
[9] Internal Revenue Service, Statistics of Income-1996, Corporation Income Tax Returns, Publication 16, Rev. 9-1999.
Nick Ward is an economist with the Special Studies Returns Analysis Section. This article was prepared under the direction of Chris Carson, Chief
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