Corporation income tax returns, 1999
Patrice Treubert
Within a growing economy, corporate pre-tax profits reported on income tax returns for 1999 increased from 1998 levels. The growth rate in the gross domestic product, or GDP (determined by the U.S. Bureau of Economic Analysis, Department of Commerce), was 5.5 percent for 1999 (in current dollars), and overall pre-tax profits (less losses) reported on corporate tax returns were up by 10.8 percent to nearly $1.0 trillion. Total receipts from business operations and investments increased by $1.6 trillion and 9.1 percent to $18.9 trillion, while total deductions, including the cost of goods sold, increased by $1.4 trillion and 9.0 percent to $18.0 trillion.
The number of corporations reporting pre-tax profits increased by 1.9 percent to 2.8 million; their pre-tax profits increased from $1.1 trillion to $1.2 trillion. In contrast, the number of corporations reporting net losses increased 1.7 percent to 2.1 million, and their net losses increased from $0.25 trillion to $0.30 trillion.
The overall increase in pre-tax profits was reflected in the amount reported as “income subject to tax” (pre-tax profits adjusted to reflect special deductions and exemptions to determine an income tax base), which increased to $693.7 billion, an increase of $30.4 billion and 4.6 percent from 1998. Paralleling the increase in income subject to tax, “total income tax before credits” rose 4.6 percent to $242.0 billion. “Total income tax after credits” (the amount payable to the U.S. Government) increased by 6.3 percent to $193.0 billion. The “alternative minimum tax” (AMT), represented in both “total income tax before credits” and “total income tax after credits,” declined 8.2 percent to $3.1 billion, as the number of corporations reporting AMT decreased 23.2 percent to 14,901.
Income tax after credits increased by more than income tax before credits because tax credits decreased slightly. Most of the decrease in tax credits was due to the general business credit, which dropped 15.0 percent from $5.6 billion to $4.8 billion, and the possessions tax credit, which decreased 37.9 percent from $2.4 billion to $1.5 billion. These declines more than offset the increase in the largest of the credits, the foreign tax credit, which grew 2.7 percent to $38.4 billion.
Net Income and Income Statement
Following a decline for 1998, pre-tax corporate profits increased for Tax Year 1999 (Figure A). Pre-tax profits, or “net income (less deficit)” in the statistics, increased from $838.2 billion in 1998 to $929.0 billion in 1999, a 10.8-percent increase (Figure B) [1]. Much of the increase in pre-tax profits was reported by “pass-through entities,” corporations that pass through reported income and deductions to their shareholders and, in general, pay no Federal income tax directly. These corporations are regulated investment companies, real estate investment trusts, and S corporations (qualifying corporations electing to be taxed through their shareholders). Pre-tax profits for these corporations were up 28.7 percent to $393.7 billion and accounted for 96.6 percent of the total increase, or $87.7 billion out of the $90.7-billion increase in overall pre-tax profits. Regulated investment companies, classified with other finance corporations, reported most of the gain, up $68.1 billion to $225.9 billion. The statistics for pre-tax profits do not include either long-term capital gains reported by regulated investment companies or investment and portfolio income, including capital gains, for S corporations [2].
Other corporations (corporations other than pass-through entities) contributed much less to the total increase in pre-tax profits, up by only $3.1 billion. Pre-tax profits for these other corporations were $535.3 billion, compared to $532.2 billion for 1998 (Figure B). For corporations in general (Table 1), the 10,380 returns with total assets of $250 million or more (0.2 percent of the total) contributed 81.6 percent of total pre-tax profits.
Starting in Tax Year 1998, the North American Industry Classification System (NAICS) was used to classify corporate income tax returns by business activity. The hierarchy for presenting statistics in this article is division, sector, major, and minor industry. Though NAICS does not include the alternative aggregation above the sector level by division, nine divisions are utilized for Statistics of Income (SOI) to allow for an additional basis of comparison for SOI data between years under NAICS. These divisions consist of: Raw materials and energy production; Goods production; Distribution and transportation of goods; Information; Finance, insurance, real estate, and rental and leasing; Professional and business services; Education, health and social assistance; Leisure, accommodation, and food services; and Other services.
Based on business activity, corporations classified in the finance, insurance, real estate, and rental and leasing division (which excludes bank holding companies) were primarily responsible for the increase in pre-tax profits for 1999 [3]. The pre-tax profits for this division rose by $73.1 billion, increasing 24.9 percent to $367.2 billion (Table 1). Underlying this increase, total receipts, defined as the sum of business receipts from sales and operations and investment income, was up 25.8 percent, from $2.6 trillion to $3.2 trillion.
Most of the increase in pre-tax profits for the finance, insurance, real estate, and rental and leasing division was reported by regulated investment companies, whose pre-tax profits were up $68.1 billion to $225.9 billion. This gain was likely due to higher stock prices [4]. The corresponding increase in total receipts was $76.7 billion, to $301.4 billion. Net short-term capital gain was the component of total receipts that increased the most, up by $56.1 billion to $80.5 billion. Long-term capital gains for regulated investment companies were not included in pre-tax profits, consistent with reporting on the tax form. However, these gains were reported elsewhere on the return, and they amounted to $252.3 billion, an increase of $59.7 billion over 1998. If long-term capital gains for regulated investment companies had been included, pre-tax profits for the finance, insurance, real estate, and rental and leasing division would have increased $132.8 billion to $619.4 billion. Total deductions, which offsets total receipts, was up by only $6.8 billion for regulated investment companies. “Other deductions,” composed of registration fees, insurance, and accounting and legal fees, was the largest component of total deductions and increased by $6.7 billion to $46.8 billion.
The raw materials and energy production division also reported increased pre-tax profits, which increased by $7.1 billion to $40.3 billion. The rise was due to an increase in total receipts that exceeded the rise in total deductions. Total receipts increased by $39.4 billion to $756.9 billion. Business receipts, or gross operating receipts, contributed most to this increase, increasing by $25.0 billion, to $693.2 billion. Total deductions also increased, by $31.9 billion, to $717.7 billion. Cost of goods sold was the largest component of total deductions, increasing $24.0 billion to $423.6 billion.
Within the raw materials and energy production division, the utilities sector accounted for the largest gain in pre-tax profits. The sector gained $7.5 billion, to $39.0 billion, representing more than the total gain for the division because the mining sector exhibited an overall loss of $1.2 billion to -$0.1 billion. Corporations classified in combined gas and electric utilities reported most of the gains. Their pre-tax profits were up by $8.3 billion, to $18.9 billion, which represents more than the total increase for the utilities sector as a whole. All the other industry classifications within the utilities grouping reported a decrease in pre-tax profits.
Most of the gains in pre-tax profits for gas and electric utilities were attributable to total receipts. Total receipts for the industry rose $31.3 billion to $179.4 billion, possibly due, in part, to an increase in the price of natural gas [5]. More than 80 percent of the gain in total receipts was due to business receipts, which increased $25.6 billion to $165.7 billion.
Corporations in the information division also reported increased pre-tax profits between 1998 and 1999, as pre-tax profits rose $7.0 billion to $39.7 billion. The publishing sector within the division exceeded the division’s gain in pre-tax profits because of the losses recorded for other component industry groups. Pre-tax profits for publishing corporations increased $10.9 billion to $24.3 billion. Possibly due in part to the increased purchase of software by businesses for the purposes of expansion and century-date-change enhancement, almost 80 percent of the gain for the sector was attributable to software publishers [6]. The increase in pre-tax profits for software publishers rose from $8.4 billion to $11.3 billion. Software publishers exhibited a significant gain in total receipts, as well, up by $40.7 billion to $93.9 billion. Business receipts contributed most to the gain in total receipts, up by $21.9 billion to $66.3 billion. Software publishers’ total deductions were up as well, by $32.2 billion to $83.1 billion.
The professional and business services division showed a significant decrease in pre-tax profits from 1998 to 1999, despite the gain in the number of returns by 50,246 to 905,410. Pre-tax profits for this division dropped by $3.6 billion, from $82.2 billion to $78.6 billion. Most of the decrease was due to companies classified in computer systems design and related services. Pre-tax profits for this industry group declined by $4.8 billion to -$1.9 billion.
The decline in pre-tax profits for the professional and business services division and underlying computer systems design services industry group resulted from an increase in deductions. However, total receipts for the division also increased by $27.8 billion to $1,419.5 billion, with business receipts increasing by $56.5 billion to $951.6 billion. These increases were offset by a $27.2-billion decrease in interest income to $328.9 billion. For computer systems design services, total receipts increased by $9.6 billion to $128.5 billion, while business receipts increased by $6.3 billion to $120.3 billion with no offsetting decrease for interest income.
Total deductions for professional and business services increased more than total receipts, up by $31.7 billion to $1,339.0billion. Deductions for computer systems design services paralleled the gain, up by $14.5 billion to $130.5 billion. The salaries and wages deduction was the component of total deductions that increased the most. Although only a partial indication of financial payments to employees, salaries and wages, not deducted elsewhere on the tax return, were up by $21.4 billion to $257.3 billion for the division and up by $4.0 billion to $35.0 billion for computer systems design services. Corporations likely report most of the remaining wages as part of the following deductions: cost of labor (which is included in cost of goods sold), compensation of officers, and “other deductions.” Company-provided benefits, another form of compensation, are reported in the employee benefit programs deduction and the pension and profit-sharing deduction. “Other deductions,” which includes commissions, as well as insurance, administrative costs, and utilities and supplies, was up by $14.1 billion to $247.7 billion for professional and business services and up by $4.9 billion to $27.9 billion for computer systems design services.
Income Tax and Credits
Income subject to tax (the base on which the regular corporation income tax is computed) increased to $693.7 billion, a 4.6-percent increase from 1998 [7]. For most returns, income subject to tax equaled “positive” net income minus certain “statutory special deductions” [8]. The increase in income subject to tax for 1999 resulted in an increase in the corporation income tax (before reduction by credits and including AMT) to $242.0 billion, an increase of 4.6 percent or $10.6 billion more than for 1998. This increase in corporation income tax followed a 1-year decline for 1998.
Total statutory special deductions, the components of which are shown in Figure C, increased 36.4 percent to $356.5 billion for 1999. Approximately 71 percent of this total and 80 percent of the current year’s increase were accounted for by the “other financial vehicles and other investments” industry group. As already noted, this major group includes regulated investment companies and real estate investment trusts, which are required to distribute most of their net income to shareholders for taxation and are allowed special deductions for dividends paid, as a result.
Approximately 20 percent of total statutory special deductions were accounted for by the $64.9-billion “net operating loss” deduction (NOLD), an increase of 23.3 percent from $52.7 billion over 1998. The NOLD increased primarily because rising pre-tax profits allowed many corporations with positive net income to deduct much of their accumulated prior-year losses from current-year net income. In general, “net operating loss deductions” include a portion of losses from prior years’ returns (excluding those of S corporations whose deficits were allocated to their shareholders in the year they occurred), augmented by “unused” portions of the deductions for intercorporate dividends received and for dividends paid on certain preferred stock of public utilities. Net operating losses can be carried forward 15 years to reduce income subject to tax (or 20 years for net operating losses incurred after August 5, 1997). With an increase in corporations reporting positive net income for 1999, more companies were able to claim the deduction for the tax year.
Corporations classified in the information division accounted for most of the increase in the NOLD, claiming $9.8 billion of the deduction for 1999, or $6.1 billion more than for 1998. Within the information division, broadcasting and television services claimed $4.6 billion more than for 1998, increasing from $1.8 billion to $6.5 billion. The publishing industry group, also within the information division, reported a significant increase in NOLD, $1.6 billion, to $2.9 billion.
The increase in income tax before credits (defined to include “alternative minimum tax” or AMT) was concentrated primarily in the information division, where income tax before credits increased by $4.8 billion to $25.3 billion. Most of the increase in the information division was accounted for by the publishing industries, up by $3.0 billion to $7.9 billion. Income tax after credits (which also includes AMT) was the amount payable to the U.S. Government. It increased by 6.3 percent or $11.5 billion, to $193.0 billion.
Income tax before credits was reduced by tax credits, with the principal credits being the foreign tax, U.S. possessions tax, nonconventional source fuel, general business, and prior-year minimum tax credits. Although income tax before credits in the statistics includes AMT, by law AMT is not reduced by these same credits. By far, the largest tax credit for 1999 was still the foreign tax credit, which increased 2.7 percent, from $37.4 billion to $38.4 billion. In the goods production division, the credit shrank by $0.7 billion to $26.1 billion, with machinery manufacturers showing the largest decline, decreasing by 58.8 percent or $1.2 billion, to $0.8 billion. Overall, goods producers accounted for 67.9 percent of the foreign tax credit claimed, with petroleum and coal manufacturers reporting $6.0 billion and chemical manufacturers reporting $5.3 billion.
The U.S. possessions tax credit decreased 37.9 percent, from $2.4 billion to $1.5 billion for 1999. No new companies were allowed to claim this credit for tax years beginning after December 1995, and special phase-out rules gradually reduced the amount that existing credit users could claim each year thereafter. The credit is to be completely eliminated after 2005. The possessions tax credit had dropped every year since 1993, with the exception of a slight increase for 1996 [9]. Historically, manufacturers have claimed the majority of this credit, principally pharmaceutical companies operating in Puerto Rico.
The general business credit reported for Tax Year 1999 decreased for the first time since Tax Year 1995 [9]. It decreased by $0.8 billion to $4.8 billion in Tax Year 1999, likely due to a change to one of its components, the credit for incremental research expenditures. Part or all of the credit for incremental research expenditures that could otherwise be claimed was suspended, but could be claimed at a later time [10].
Goods producers claimed $1.9 billion of the general business credit, which amounts to about 40 percent of the total. This was also $0.8 billion less than the amount claimed for 1998. However, the finance, insurance, real estate, rental and leasing division accounted for most of the growth for 1999, with a $0.1-billion increase over 1998, to $0.8 billion. The general business credit included: the investment credit (i.e., the sum of the rehabilitation credit, the energy credit, and the reforestation credit); the work opportunity credit; the credit for alcohol used as a fuel; the credit for increasing research activities; the low-income housing credit; the enhanced oil recovery credit; the disabled access credit; the renewable electricity production credit; the Indian employment credit; the credit for Social Security and Medicare taxes paid on certain employee tips; the “orphan drug credit”; the credit for contributions to selected community development corporations; the welfare to work credit; and the Trans-Alaskan pipeline credit. The empowerment zone employment credit was also included as part of the general business credit total taken against income tax, but was not included on the general business credit form (Form 3800) [11].
The “alternative minimum tax” or AMT was instituted in its present form by the Tax Reform Act of 1986. For 1998, corporations reported $3.3 billion of AMT. For 1999, AMT was $3.1 billion, a decline of 8.2 percent. The number of corporations reporting the tax decreased 23.2 percent to 14,901. Corporations with business receipts of $0.5 billion or more reported more than half of the decline [12]. Corporations in this category were also largely responsible for the increase in income subject to tax and income tax. Therefore, these large corporations did not have as much AMT liability as they did for 1998. However, a corporation that does not make positive AMT payments may also be affected by the AMT by having its use of tax credits limited. The AMT rules prevent companies from using business tax credits to offset AMT or reduce regular tax below tentative minimum tax.
As with previous years, corporations without a current-year “alternative minimum tax” liability that reported AMT in prior years could generally elect to take a credit against a portion of regular income tax liability for the previously-paid AMT. A corporation’s potential credit was limited to the excess of its current-year regular income tax over its current-year “tentative” AMT. The number of corporations claiming the credit for prior-year AMT decreased 25.4 percent for 1999, to 12,699. Despite this significant decrease in the number of companies claiming the credit, the credit amount claimed stayed consistent at $3.4 billion.
Income tax after credits (including the AMT), the amount payable to the U.S. Government, increased 6.3 percent or $11.5 billion, to $193.0 billion. Returns classified in goods production led the increase, rising by $5.5 billion to $61.0 billion. Beverage and tobacco manufacturers reported the largest increase in this division, rising by $3.7 billion to $7.2 billion. The information division also reported a significant increase, up by $4.6 billion to $23.1 billion. Publishing industries within the information grouping were responsible for most of the increase, up by $2.9 billion to $7.0 billion.
Summary
Characteristic of a growing economy in 1999, corporate pre-tax profits, as reported on income tax returns for 1999, increased 10.8 percent to nearly $1.0 trillion. “Positive” net income increased from $1.1 trillion to $1.2 trillion while net losses increased from $0.25 trillion to $0.30 trillion.
Income subject to tax, the tax base, increased along with positive net income, from $663.4 billion to $693.7 billion, or 4.6 percent. Reflecting this increase, income tax before credits also increased 4.6 percent to $242.0 billion, and income tax after credits, the amount payable to the U.S. Government, increased 6.3 percent to $193.0 billion. A decrease in total tax credits claimed (notwithstanding an increase in the foreign tax credit), particularly the general business credit and the U.S. possessions tax credit, caused a relative increase in total income tax after credits, at a rate exceeding that for tax before credits. The general business credit decreased 15.0 percent to $4.8 billion, and the U.S. possessions tax credit decreased 37.9 percent to $1.5 billion. The AMT, included in both income tax before credits and income tax after credits, decreased 8.2 percent to $3.1 billion.
Data Sources and Limitations, Form 1120, Tax Year 1999
Estimates for Tax Year 1999 are based on a sample of corporation income tax returns with accounting periods ending July 1999 through June 2000 that posted to the Internal Revenue Service Business Master File from the beginning of July 1999 through the end of June 2001. These returns represent domestic corporations filing Form 1120 or 1120-A (short form); foreign corporations with income “effectively connected” with a U.S. business filing Form 1120-F; life insurance companies filing Form 1120-L; property and casualty insurance companies filing Form 1120-PC; S corporations filing Form 1120S; regulated investment companies filing Form 1120-RIC; and real estate investment trusts filing Form 1120-REIT.
A stratified probability sample was used to produce the statistics. A sample of 141,398 corporation income tax returns was drawn from a total population of 5,315,397. Based on the 135,039 returns of active corporations in the sample, the population estimate of corporation returns was 4,935,904. The sample was selected after administrative processing was complete, but before any amendments or audit examinations, and was stratified based on combinations of net income and total assets at rates ranging from 0.25 percent to 100 percent.
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 on sampling variability in the “SOI Sampling Methodology and Data Limitations” appendix of this publication. Figure D presents the CV’s for total assets, business receipts, total income tax before credits, and total income tax after credits by industrial division and sector. The smaller the CV, the more reliable the estimate is judged to be. The estimates corresponding to the CV’s in Figure D can be found in Table 1.
Table 1.–Selected Balance Sheet, Income Statement, and Tax Items,
by North American Industry Classification System (NAICS) Sector
and by Asset Size
[All figures are estimates based on samples–money amounts are inthousands of dollars; size of total assets is in whole dollars]
Size of total assets
$1
Item, industrial Total Zero assets under
sector (1) $100,000
(1) (2) (3)
ALL INDUSTRIES (2)
Number of returns 4,935,904 313,004 2,532,700
Total assets 41,464,152,854 — 76,119,037
Net worth 15,362,860,996 — -22,015,791
Total receipts (3) 18,892,385,694 442,802,754 549,906,336
Business receipts 16,313,971,385 328,752,464 539,453,319
Interest paid 1,018,972,484 63,845,315 3,638,275
Net income (less
deficit) (3) 928,955,528 7,780,844 20,303,158
Total income tax
before credits (4) 241,987,588 7,488,895 551,106
Total Income tax
after credits (4) 193,027,641 5,936,050 541,816
RAW MATERIALS AND
ENERGY PRODUCTION
Number of returns 179,572 7,053 67,966
Total assets 1,632,877,621 — 2,295,042
Net worth 590,944,323 — -624,820
Total receipts (3) 756,929,339 8,981,042 7,454,528
Business receipts 693,167,310 7,271,024 6,627,117
Interest paid 42,914,564 461,965 134,474
Net income (less
deficit) (3) 40,271,259 279,381 48,146
Total income tax
before credits (4) 16,460,851 179,414 9,921
Total Income tax
after credits (4) 14,520,935 169,089 8,371
AGRICULTURE,
FORESTRY, FISHING,
AND HUNTING
Number of returns 141,678 3,598 51,609
Total assets 102,896,414 — 1,807,948
Net worth 37,991,103 — -652,308
Total receipts (3) 115,897,645 1,033,223 6,300,571
Business receipts 104,645,084 853,609 5,658,155
Interest paid 3,460,472 43,615 102,449
Net income (less
deficit) (3) 1,388,996 -76,769 10,028
Total income tax
before credits
(4) 602,018 22,083 6,210
Total Income tax
after credits
(4) 544,293 21,927 6,208
MINING
Number of returns 30,849 2,639 13,341
Total assets 358,374,736 — 424,675
Net worth 178,084,613 — 50,123
Total receipts (3) 124,847,341 2,311,610 1,016,016
Business receipts 109,685,715 1,847,623 865,763
Interest paid 9,008,339 140,664 30,539
Net income (less
deficit) (3) -134,901 155,391 7,421
Total income tax
before credits
(4) 1,770,981 66,207 * 1,669
Total Income tax
after credits 1,064,375 57,207 * 175
(4)
UTILITIES
Number of returns 7,044 816 3,016
Total assets 1,171,606,471 — 62,419
Net worth 374,868,607 — -22,635
Total receipts (3) 516,184,353 5,636,209 137,941
Business receipts 478,836,511 4,569,792 103,199
Interest paid 30,445,753 277,686 * 1,486
Net income (less
deficit) (3) 39,017,164 200,758 30,697
Total income tax
before credits
(4) 14,087,853 91,124 * 2,042
Total Income tax
after credits
(4) 12,912,267 89,955 * 1,987
GOODS PRODUCTION
Number of returns 878,016 39,527 395,740
Total assets 7,275,271,016 — 12,273,917
Net worth 2,486,416,848 — -1,829,068
Total receipts (3) 6,197,686,726 126,301,923 101,401,387
Business receipts 5,775,344,394 117,713,024 100,752,420
Interest paid 193,544,630 2,718,048 589,652
Net income (less
deficit) (3) 279,935,929 5,174,981 3,666,359
Total income tax
before credits (4) 92,026,178 2,683,761 64,236
Total Income tax
after credits (4) 60,979,100 1,460,423 64,227
CONSTRUCTION
Number of returns 580,302 27,824 295,387
Total assets 463,072,728 — 9,035,204
Net worth 139,215,432 — -520,932
Total receipts (3) 990,661,562 12,840,904 83,046,726
Business receipts 973,521,174 12,417,799 82,548,025
Interest paid 8,717,303 98,704 420,167
Net income (less
deficit) (3) 32,654,317 346,511 3,138,367
Total income tax
before credits
(4) 4,375,585 71,520 47,641
Total Income tax
after credits
(4) 4,142,447 68,893 47,641
MANUFACTURING
Number of returns 297,714 11,702 100,353
Total assets 6,812,198,288 — 3,238,712
Net worth 2,347,201,417 — -1,308,136
Total receipts (3) 5,207,025,164 113,461,019 18,354,661
Business receipts 4,801,823,220 105,295,224 18,204,394
Interest paid 184,827,327 2,619,345 169,484
Net income (less
deficit) (3) 247,281,612 4,828,469 527,992
Total income tax
before credits
(4) 87,650,593 2,612,241 16,595
Total Income tax
after credits
(4) 56,836,653 1,391,530 16,586
DISTRIBUTION AND
TRANSPORTATION OF
GOODS
Number of returns 1,108,566 58,441 468,709
Total assets 2,631,332,650 — 16,351,398
Net worth 865,867,439 — -10,465,100
Total receipts (3) 5,419,751,650 81,571,510 103,184,202
Business receipts 5,274,662,182 78,217,797 101,658,296
Interest paid 73,151,046 1,845,852 639,321
Net income (less
deficit) (3) 102,380,385 -662,227 1,071,515
Total income tax
before credits (4) 32,453,605 421,447 92,888
Total Income tax
after credits (4) 29,903,390 415,646 92,187
WHOLESALE AND
RETAIL TRADE
Number of returns 948,371 45,986 381,488
Total assets 2,136,070,543 — 13,683,387
Net worth 697,058,437 — -10,237,313
Total receipts (3) 4,913,443,742 75,105,957 87,838,193
Business receipts 4,789,438,632 72,290,554 86,522,677
Interest paid 59,036,213 1,534,691 478,308
Net income (less
deficit) (3) 91,938,690 -365,515 878,117
Total income tax
before credits
(4) 27,897,471 360,928 77,686
Total Income tax
after credits
(4) 25,958,590 356,088 76,992
TRANSPORTATION AND
WAREHOUSING
Number of returns 160,195 12,455 87,221
Total assets 495,262,107 — 2,668,011
Net worth 168,809,002 — -227,787
Total receipts (3) 506,307,909 6,465,553 15,346,009
Business receipts 485,223,550 5,927,243 15,135,619
Interest paid 14,114,833 311,161 161,013
Net income (less
deficit) (3) 10,441,695 -296,713 193,398
Total income tax
before credits
(4) 4,556,134 60,519 15,203
Total Income tax
after credits
(4) 3,944,800 59,558 15,195
INFORMATION
Number of returns 107,628 8,383 61,980
Total assets 2,321,203,242 — 1,546,136
Net worth 967,927,509 — -1,284,960
Total receipts (3) 889,706,510 40,817,822 10,103,760
Business receipts 760,824,421 33,228,623 9,803,898
Interest paid 61,139,001 3,985,841 61,879
Net income (less
deficit) (3) 39,705,442 -759,094 280,513
Total income tax
before credits (4) 25,266,589 1,509,624 15,768
Total Income tax
after credits (4) 23,070,009 1,472,213 15,763
FINANCE, INSURANCE,
REAL ESTATE, AND
RENTAL AND LEASING
Number of returns 739,227 50,961 323,770
Total assets 20,379,626,205 — 9,751,775
Net worth 9,088,654,040 — -3,929,442
Total receipts (3) 3,224,006,077 125,805,444 40,385,780
Business receipts 1,925,617,670 50,292,402 38,705,611
Interest paid 409,874,424 46,796,948 704,451
Net income (less
deficit) (3) 367,153,832 3,308,736 2,864,789
Total income tax
before credits (4) 42,830,616 1,592,419 71,923
Total Income tax
after credits (4) 36,256,840 1,550,384 70,910
FINANCE AND
INSURANCE
Number of returns 217,780 14,098 111,056
Total assets 19,824,587,927 — 2,734,988
Net worth 8,940,180,581 — -834,169
Total receipts (3) 3,008,131,381 120,454,068 17,011,226
Business receipts 1,740,167,487 47,229,706 16,466,330
Interest paid 392,893,417 46,226,516 476,122
Net income (less
deficit) (3) 360,667,738 2,494,023 1,108,682
Total income tax
before credits
(4) 40,300,522 1,215,443 20,438
Total Income tax
after credits
(4) 33,861,687 1,177,044 20,434
REAL ESTATE AND
RENTAL AND LEASING
Number of returns 521,447 36,862 212,714
Total assets 555,038,279 — 7,016,787
Net worth 148,473,459 — -3,095,273
Total receipts (3) 215,874,696 5,351,376 23,374,555
Business receipts 185,450,183 3,062,695 22,239,281
Interest paid 16,981,007 570,433 228,329
Net income (less
deficit) (3) 6,486,094 814,713 1,756,107
Total income tax
before credits
(4) 2,530,093 376,976 51,485
Total Income tax
after credits
(4) 2,395,153 373,339 50,475
PROFESSIONAL AND
BUSINESS SERVICES
Number of returns 905,410 71,929 606,870
Total assets 6,512,993,108 — 14,688,001
Net worth 1,140,639,708 — -1,886,507
Total receipts (3) 1,419,525,875 41,197,127 124,585,412
Business receipts 951,560,276 26,296,734 121,726,609
Interest paid 211,829,869 7,443,180 624,975
Net income (less
deficit) (3) 78,555,746 743,212 8,079,882
Total income tax
before credits (4) 26,695,177 928,313 165,881
Total Income tax
after credits (4) 22,991,291 699,378 165,408
PROFESSIONAL,
SCIENTIFIC, AND
TECHNICAL SERVICES
Number of returns 657,153 49,509 459,310
Total assets 373,290,013 — 10,673,175
Net worth 139,391,301 — -1,235,442
Total receipts (3) 604,083,026 15,642,954 87,168,836
Business receipts 576,276,292 14,986,847 85,188,459
Interest paid 7,612,211 278,514 425,971
Net income (less
deficit) (3) 13,263,768 -459,238 6,724,377
Total income tax
before credits
(4) 4,784,997 133,252 131,899
Total Income tax
after credits
(4) 4,088,564 130,489 131,722
MANAGEMENT OF
COMPANIES (HOLDING
COMPANIES)
Number of returns 43,246 6,941 12,271
Total assets 5,936,042,852 — 377,106
Net worth 937,394,942 — -257,925
Total receipts (3) 518,531,619 15,825,376 110,377
Business receipts 91,583,476 2,328,061 * 15,987
Interest paid 198,179,812 6,496,673 43,329
Net income (less
deficit) (3) 58,098,072 1,483,859 -2,009
Total income tax
before credits
(4) 20,151,630 768,359 11,567
Total Income tax
after credits
(4) 17,557,723 542,269 11,345
ADMINISTRATIVE AND
SUPPORT AND WASTE
MANAGEMENT AND
REMEDIATION SERVICES
Number of returns 205,011 15,479 135,290
Total assets 203,660,243 — 3,637,720
Net worth 63,853,465 — -393,140
Total receipts (3) 296,911,229 9,728,797 37,306,199
Business receipts 283,700,509 8,981,827 36,522,163
Interest paid 6,037,846 667,993 155,675
Net income (less
deficit) (3) 7,193,907 -281,408 1,357,514
Total income tax
before credits
(4) 1,759,550 26,703 22,414
Total Income tax
after credits
(4) 1,345,004 26,620 22,341
EDUCATION, HEALTH, AND
SOCIAL ASSISTANCE
Number of returns 338,695 25,450 221,360
Total assets 229,301,377 — 7,146,029
Net worth 70,509,790 — -221,136
Total receipts (3) 408,996,315 6,013,648 92,467,546
Business receipts 391,974,750 5,658,565 90,741,364
Interest paid 8,019,734 55,822 300,878
Net income (less
deficit) (3) 5,636,491 -49,792 2,921,623
Total income tax
before credits (4) 1,956,496 16,645 73,801
Total Income tax
after credits (4) 1,895,326 16,645 70,858
EDUCATIONAL SERVICES
Number of returns 35,196 3,463 24,551
Total assets 13,290,030 — 723,652
Net worth 4,890,418 — -196,304
Total receipts (3) 23,083,618 707,879 3,581,128
Business receipts 20,532,679 672,569 3,568,762
Interest paid 288,455 5,497 23,580
Net income (less
deficit) (3) 559,735 -25,036 106,795
Total income tax
before credits 176,634 * 770 1,246
(4)
Total Income tax
after credits
(4) 169,169 * 770 1,160
HEALTH CARE AND
SOCIAL ASSISTANCE
Number of returns 303,499 21,987 196,809
Total assets 216,011,347 — 6,422,378
Net worth 65,619,372 — -24,832
Total receipts (3) 385,912,697 5,305,769 88,886,418
Business receipts 371,442,071 4,985,997 87,172,601
Interest paid 7,731,279 50,326 277,298
Net income (less
deficit) (3) 5,076,755 -24,755 2,814,829
Total income tax
before credits
(4) 1,779,862 15,875 72,555
Total Income tax
after credits
(4) 1,726,157 15,875 69,699
LEISURE, ACCOMMODATION
AND FOOD SERVICES
Number of returns 346,035 24,852 180,701
Total assets 389,477,934 — 6,099,213
Net worth 120,921,978 — -2,854,525
Total receipts (3) 418,932,813 10,265,995 36,125,823
Business receipts 389,284,983 8,398,299 35,730,229
Interest paid 15,443,268 473,455 220,593
Net income (less
deficit) (3) 10,888,009 -212,975 211,492
Total income tax
before credits (4) 3,627,258 140,162 30,358
Total Income tax
after credits (4) 2,768,328 135,188 28,300
ARTS, ENTERTAINMENT,
AND RECREATION
Number of returns 93,922 8,038 52,915
Total assets 81,870,705 — 1,303,043
Net worth 22,987,987 — -811,265
Total receipts (3) 76,849,223 3,585,935 6,822,928
Business receipts 70,756,712 3,230,922 6,752,582
Interest paid 3,153,120 133,626 39,815
Net income (less
deficit) (3) 821,493 -266,064 -31,633
Total income tax
before credits
(4) 498,551 27,260 4,437
Total Income tax
after credits
(4) 452,800 26,856 4,437
ACCOMMODATION AND
FOOD SERVICES
Number of returns 252,113 16,814 127,786
Total assets 307,607,229 — 4,796,170
Net worth 97,933,991 — -2,043,261
Total receipts (3) 342,083,590 6,680,059 29,302,895
Business receipts 318,528,271 5,167,376 28,977,646
Interest paid 12,290,148 339,829 180,779
Net income (less
deficit) (3) 10,066,516 53,090 243,126
Total income tax
before credits
(4) 3,128,707 112,902 25,921
Total Income tax
after credits
(4) 2,315,528 108,333 23,863
OTHER SERVICES
Number of returns 305,725 20,031 188,850
Total assets 90,106,610 — 5,555,799
Net worth 30,783,792 — 965,495
Total receipts (3) 151,673,526 1,550,609 32,317,849
Business receipts 146,498,454 1,406,581 31,836,335
Interest paid 2,844,964 64,063 185,372
Net income (less
deficit) (3) 4,317,819 -59,641 956,276
Total income tax
before credits
(4) 665,085 15,939 24,004
Total Income tax
after credits
(4) 637,689 15,913 23,467
Size of total assets
$100,000 $250,000 $500,000
Item, industrial under under under
sector $250,000 $500,000 $1,000,000
(4) (5) (6)
ALL INDUSTRIES (2)
Number of returns 791,524 477,927 330,757
Total assets 129,018,321 169,121,053 231,018,299
Net worth 22,154,582 48,753,839 68,387,527
Total receipts (3) 455,915,059 452,379,355 548,910,002
Business receipts 448,185,317 443,125,601 535,897,926
Interest paid 3,939,772 4,572,740 5,989,986
Net income (less
deficit) (3) 11,720,493 10,178,577 11,063,826
Total income tax
before credits (4) 723,064 906,507 1,287,444
Total Income tax
after credits (4) 667,682 882,806 1,269,224
RAW MATERIALS AND
ENERGY PRODUCTION
Number of returns 33,751 26,997 21,863
Total assets 5,787,295 9,887,169 15,381,568
Net worth 1,313,216 3,858,228 6,176,292
Total receipts (3) 11,124,886 13,599,982 19,386,666
Business receipts 10,048,489 11,897,038 17,461,745
Interest paid 240,574 332,758 531,585
Net income (less
deficit) (3) 161,844 373,896 462,037
Total income tax
before credits (4) 58,704 34,379 66,422
Total Income tax
after credits (4) 18,900 34,238 66,307
AGRICULTURE,
FORESTRY, FISHING,
AND HUNTING
Number of returns 29,103 22,565 18,668
Total assets 4,974,026 8,233,135 13,058,376
Net worth 965,481 3,202,812 5,467,906
Total receipts (3) 9,652,317 11,043,394 15,857,918
Business receipts 8,728,344 9,415,093 14,190,365
Interest paid 224,534 293,350 483,011
Net income (less
deficit) (3) -103,643 177,808 454,498
Total income tax
before credits
(4) 16,350 27,196 57,405
Total Income tax
after credits
(4) 15,715 27,055 57,290
MINING
Number of returns 3,768 3,798 2,872
Total assets 664,090 1,452,547 2,110,288
Net worth 268,928 545,694 610,671
Total receipts (3) 1,359,983 2,340,402 2,864,679
Business receipts 1,208,211 2,283,495 2,612,964
Interest paid 15,661 35,075 42,298
Net income (less
deficit) (3) 254,553 147,184 14,053
Total income tax
before credits
(4) * 42,354 * 6,035 * 8,360
Total Income tax
after credits * 3,185 * 6,035 * 8,360
(4)
UTILITIES
Number of returns * 879 * 635 * 323
Total assets * 149,179 * 201,487 * 212,904
Net worth * 78,806 * 109,722 * 97,716
Total receipts (3) * 112,586 * 216,186 * 664,069
Business receipts * 111,935 * 198,451 * 658,416
Interest paid * 378 * 4,332 * 6,276
Net income (less
deficit) (3) * 10,933 * 48,904 * -6,514
Total income tax
before credits
(4) — * 1,149 * 657
Total Income tax
after credits
(4) — * 1,149 * 657
GOODS PRODUCTION
Number of returns 133,319 97,932 74,270
Total assets 22,231,657 35,068,499 52,211,243
Net worth 4,627,982 10,741,434 16,920,800
Total receipts (3) 84,592,825 106,036,447 139,840,767
Business receipts 83,714,881 105,072,838 138,483,810
Interest paid 753,520 958,627 1,268,730
Net income (less
deficit) (3) 2,174,010 2,831,835 3,280,984
Total income tax
before credits (4) 133,767 231,511 378,946
Total Income tax
after credits (4) 132,143 230,774 371,907
CONSTRUCTION
Number of returns 89,490 60,760 42,594
Total assets 14,798,497 21,661,351 29,778,174
Net worth 3,697,142 6,997,507 10,592,564
Total receipts (3) 59,928,495 69,669,095 79,072,243
Business receipts 59,346,029 69,055,864 78,313,409
Interest paid 488,473 536,808 645,281
Net income (less
deficit) (3) 2,186,128 2,193,751 2,169,061
Total income tax
before credits
(4) 100,813 160,652 219,091
Total Income tax
after credits
(4) 99,366 160,146 215,239
MANUFACTURING
Number of returns 43,829 37,172 31,676
Total assets 7,433,160 13,407,148 22,433,069
Net worth 930,839 3,743,927 6,328,236
Total receipts (3) 24,664,330 36,367,352 60,768,524
Business receipts 24,368,852 36,016,974 60,170,401
Interest paid 265,047 421,819 623,449
Net income (less
deficit) (3) -12,118 638,084 1,111,924
Total income tax
before credits
(4) 32,954 70,859 159,855
Total Income tax
after credits
(4) 32,777 70,628 156,668
DISTRIBUTION AND
TRANSPORTATION OF
GOODS
Number of returns 206,102 134,809 98,889
Total assets 33,386,513 47,768,814 69,148,585
Net worth 4,577,459 14,506,840 21,656,307
Total receipts (3) 142,073,078 168,058,394 235,107,907
Business receipts 140,323,906 166,051,801 232,304,279
Interest paid 971,021 1,258,975 1,839,489
Net income (less
deficit) (3) 1,972,916 2,433,047 3,006,215
Total income tax
before credits (4) 140,694 221,293 383,974
Total Income tax
after credits (4) 139,586 221,056 380,371
WHOLESALE AND
RETAIL TRADE
Number of returns 184,819 119,804 88,713
Total assets 29,924,422 42,461,887 62,109,411
Net worth 3,745,605 13,227,875 20,372,256
Total receipts (3) 130,733,614 149,222,622 215,166,815
Business receipts 129,191,260 147,469,683 212,610,661
Interest paid 823,125 1,055,884 1,577,652
Net income (less
deficit) (3) 1,668,724 2,140,899 2,907,617
Total income tax
before credits
(4) 125,124 194,761 337,714
Total Income tax
after credits
(4) 125,044 194,525 335,063
TRANSPORTATION AND
WAREHOUSING
Number of returns 21,283 15,005 10,176
Total assets 3,462,092 5,306,927 7,039,174
Net worth 831,854 1,278,965 1,284,051
Total receipts (3) 11,339,464 18,835,772 19,941,092
Business receipts 11,132,645 18,582,118 19,693,618
Interest paid 147,896 203,092 261,837
Net income (less
deficit) (3) 304,193 292,148 98,598
Total income tax
before credits
(4) 15,570 26,532 46,260
Total Income tax
after credits
(4) 14,542 26,531 45,308
INFORMATION
Number of returns 11,663 7,459 6,454
Total assets 1,979,526 2,670,211 4,495,000
Net worth -58,599 -1,818,707 504,536
Total receipts (3) 5,637,476 5,883,339 10,534,028
Business receipts 5,445,653 5,697,374 10,313,835
Interest paid 71,255 95,845 100,304
Net income (less
deficit) (3) -17,165 -318,880 -97,082
Total income tax
before credits (4) 7,740 21,286 11,024
Total Income tax
after credits (4) 7,342 21,127 11,009
FINANCE, INSURANCE,
REAL ESTATE, AND
RENTAL AND LEASING
Number of returns 122,097 85,822 61,309
Total assets 20,367,079 30,104,618 42,829,291
Net worth 2,612,688 10,051,771 6,593,529
Total receipts (3) 26,311,664 21,735,450 24,627,518
Business receipts 24,642,310 19,994,745 22,900,752
Interest paid 483,974 559,403 813,746
Net income (less
deficit) (3) 1,318,447 1,119,049 891,967
Total income tax
before credits (4) 97,120 143,767 165,734
Total Income tax
after credits (4) 95,806 141,006 163,363
FINANCE AND
INSURANCE
Number of returns 26,100 18,669 11,677
Total assets 4,367,974 6,565,572 8,308,779
Net worth -1,723,452 2,219,233 -3,301,386
Total receipts (3) 11,689,361 10,249,041 12,771,979
Business receipts 11,223,133 9,525,044 12,126,844
Interest paid 180,083 186,545 209,120
Net income (less
deficit) (3) 616,046 424,898 350,943
Total income tax
before credits
(4) 35,500 55,112 68,533
Total Income tax
after credits
(4) 35,423 54,095 68,101
REAL ESTATE AND
RENTAL AND LEASING
Number of returns 95,997 67,153 49,632
Total assets 15,999,106 23,539,046 34,520,512
Net worth 4,336,140 7,832,538 9,894,915
Total receipts (3) 14,622,302 11,486,409 11,855,538
Business receipts 13,419,177 10,469,701 10,773,908
Interest paid 303,891 372,858 604,626
Net income (less
deficit) (3) 702,401 694,151 541,024
Total income tax
before credits
(4) 61,620 88,655 97,202
Total Income tax
after credits
(4) 60,383 86,911 95,261
PROFESSIONAL AND
BUSINESS SERVICES
Number of returns 108,836 48,807 27,162
Total assets 16,991,387 17,121,383 18,877,529
Net worth 3,920,119 5,317,865 6,496,866
Total receipts (3) 76,135,896 63,703,564 56,028,338
Business receipts 74,393,340 62,802,914 54,517,894
Interest paid 468,219 476,380 466,571
Net income (less
deficit) (3) 3,151,433 1,800,220 1,390,447
Total income tax
before credits (4) 135,378 138,238 149,356
Total Income tax
after credits (4) 133,030 133,560 147,874
PROFESSIONAL,
SCIENTIFIC, AND
TECHNICAL SERVICES
Number of returns 73,827 33,478 17,722
Total assets 11,486,106 11,668,010 12,344,865
Net worth 2,650,641 3,045,342 3,474,936
Total receipts (3) 53,034,998 44,947,885 39,412,834
Business receipts 51,490,098 44,325,790 38,286,786
Interest paid 298,436 319,673 331,818
Net income (less
deficit) (3) 2,639,508 1,402,148 1,011,293
Total income tax
before credits
(4) 103,464 101,416 104,503
Total Income tax
after credits
(4) 101,200 100,484 103,407
MANAGEMENT OF
COMPANIES (HOLDING
COMPANIES)
Number of returns 6,175 3,569 3,049
Total assets 930,773 1,283,382 2,170,223
Net worth 711,549 868,379 1,657,223
Total receipts (3) 86,525 276,980 157,223
Business receipts * 15,574 * 161,621 * 104
Interest paid * 5,513 28,521 7,324
Net income (less
deficit) (3) -346 -168,594 20,091
Total income tax
before credits
(4) 5,165 14,620 8,818
Total Income tax
after credits
(4) 5,165 * 10,953 8,442
ADMINISTRATIVE AND
SUPPORT AND WASTE
MANAGEMENT AND
REMEDIATION SERVICES
Number of returns 28,834 11,760 6,392
Total assets 4,574,508 4,169,992 4,362,442
Net worth 557,928 1,404,144 1,364,708
Total receipts (3) 23,014,373 18,478,699 16,458,281
Business receipts 22,887,668 18,315,503 16,231,003
Interest paid 164,270 128,186 127,429
Net income (less
deficit) (3) 512,270 566,665 359,063
Total income tax
before credits
(4) 26,748 22,202 36,035
Total Income tax
after credits
(4) 26,665 22,124 36,024
EDUCATION, HEALTH, AND
SOCIAL ASSISTANCE
Number of returns 55,405 19,964 7,397
Total assets 8,692,065 6,939,622 4,934,100
Net worth 1,860,171 1,172,465 1,183,541
Total receipts (3) 53,284,044 26,074,357 18,317,705
Business receipts 51,934,719 25,438,445 15,911,470
Interest paid 336,032 269,746 186,465
Net income (less
deficit) (3) 1,819,235 805,135 551,615
Total income tax
before credits (4) 65,198 36,006 19,657
Total Income tax
after credits (4) 62,860 35,233 19,169
EDUCATIONAL SERVICES
Number of returns 3,555 1,814 771
Total assets 540,333 691,890 492,289
Net worth -23,935 156,931 48,966
Total receipts (3) 2,119,084 1,549,826 2,496,694
Business receipts 2,061,209 1,520,728 635,191
Interest paid 34,029 6,355 * 7,860
Net income (less
deficit) (3) 57,500 32,809 35,897
Total income tax
before credits * 2,282 * 3,057 * 337
(4)
Total Income tax
after credits
(4) * 2,282 * 3,057 * 337
HEALTH CARE AND
SOCIAL ASSISTANCE
Number of returns 51,851 18,151 6,625
Total assets 8,151,732 6,247,732 4,441,811
Net worth 1,884,106 1,015,534 1,134,575
Total receipts (3) 51,164,960 24,524,531 15,821,011
Business receipts 49,873,510 23,917,717 15,276,279
Interest paid 302,004 263,391 178,604
Net income (less
deficit) (3) 1,761,734 772,326 515,717
Total income tax
before credits
(4) 62,916 32,949 19,321
Total Income tax
after credits
(4) 60,578 32,176 18,833
LEISURE, ACCOMMODATION
AND FOOD SERVICES
Number of returns 67,670 30,811 19,734
Total assets 11,177,442 10,686,253 13,592,722
Net worth 58,573 1,258,370 3,403,828
Total receipts (3) 34,204,346 27,864,302 28,398,702
Business receipts 33,854,854 27,442,992 27,751,553
Interest paid 408,528 365,292 487,609
Net income (less
deficit) (3) 526,097 458,516 1,017,166
Total income tax
before credits (4) 44,153 42,351 57,267
Total Income tax
after credits (4) 38,713 28,716 54,386
ARTS, ENTERTAINMENT,
AND RECREATION
Number of returns 14,109 8,181 4,614
Total assets 2,391,838 2,854,910 3,137,414
Net worth 656,960 -337,415 1,005,834
Total receipts (3) 6,984,831 5,649,361 6,776,674
Business receipts 6,854,674 5,560,714 6,546,535
Interest paid 68,954 97,764 101,589
Net income (less
deficit) (3) 233,175 -20,098 268,516
Total income tax
before credits
(4) 18,851 7,857 22,241
Total Income tax
after credits
(4) 18,514 7,857 22,180
ACCOMMODATION AND
FOOD SERVICES
Number of returns 53,561 22,630 15,120
Total assets 8,785,604 7,831,343 10,455,307
Net worth -598,387 1,595,785 2,397,994
Total receipts (3) 27,219,515 22,214,941 21,622,028
Business receipts 27,000,180 21,882,277 21,205,018
Interest paid 339,574 267,528 386,020
Net income (less
deficit) (3) 292,922 478,614 748,651
Total income tax
before credits
(4) 25,302 34,494 35,026
Total Income tax
after credits
(4) 20,199 20,859 32,206
OTHER SERVICES
Number of returns 50,291 24,850 12,844
Total assets 8,042,124 8,721,244 8,963,428
Net worth 3,078,752 3,636,775 3,313,368
Total receipts (3) 21,270,050 19,379,909 16,238,541
Business receipts 20,636,322 18,683,842 15,828,565
Interest paid 204,130 254,560 288,907
Net income (less
deficit) (3) 563,794 671,063 559,484
Total income tax
before credits
(4) 40,044 37,641 55,005
Total Income tax
after credits
(4) 39,036 37,061 54,781
Size of total assets
$1,000,000 $5,000,000 $10,000,000
Item, industrial under under under
sector $5,000,000 $10,000,000 $25,000,000
(7) (8) (9)
ALL INDUSTRIES (2)
Number of returns 357,966 55,339 34,953
Total assets 752,609,634 383,624,248 538,770,077
Net worth 226,632,539 114,301,456 179,901,562
Total receipts (3) 1,559,518,844 778,160,966 932,950,831
Business receipts 1,526,157,458 760,387,853 907,679,286
Interest paid 18,871,931 9,187,042 12,567,573
Net income (less
deficit) (3) 29,717,239 13,281,021 14,948,529
Total income tax
before credits (4) 5,254,634 3,044,176 4,546,120
Total Income tax
after credits (4) 5,084,993 2,920,689 4,357,949
RAW MATERIALS AND
ENERGY PRODUCTION
Number of returns 17,770 1,959 1,102
Total assets 33,851,710 13,468,148 17,034,512
Net worth 11,438,155 5,261,996 7,106,637
Total receipts (3) 33,043,024 14,326,669 15,225,544
Business receipts 28,646,342 13,562,660 14,072,770
Interest paid 1,104,918 353,618 433,262
Net income (less
deficit) (3) 59,682 200,524 204,286
Total income tax
before credits (4) 118,939 82,363 127,521
Total Income tax
after credits (4) 115,811 71,872 119,285
AGRICULTURE,
FORESTRY, FISHING,
AND HUNTING
Number of returns 14,109 1,212 536
Total assets 26,462,955 8,328,781 8,129,809
Net worth 9,467,556 3,459,056 3,203,815
Total receipts (3) 26,346,750 8,637,313 8,854,891
Business receipts 22,797,927 8,195,061 8,314,401
Interest paid 898,991 229,745 235,558
Net income (less
deficit) (3) 192,807 93,631 39,962
Total income tax
before credits
(4) 88,396 35,316 54,072
Total Income tax
after credits
(4) 86,401 34,075 52,012
MINING
Number of returns 2,838 585 467
Total assets 5,809,180 4,040,546 7,234,178
Net worth 1,661,648 1,583,833 3,366,803
Total receipts (3) 5,719,276 3,367,149 5,067,840
Business receipts 4,937,813 3,074,903 4,550,910
Interest paid 146,736 99,680 156,933
Net income (less
deficit) (3) -121,207 53,256 121,795
Total income tax
before credits
(4) 23,421 28,565 50,542
Total Income tax
after credits
(4) 22,287 19,620 45,359
UTILITIES
Number of returns 823 162 99
Total assets 1,579,575 1,098,822 1,670,525
Net worth 308,951 219,107 536,019
Total receipts (3) 976,997 2,322,207 1,302,814
Business receipts 910,602 2,292,696 1,207,458
Interest paid 59,191 24,192 40,771
Net income (less
deficit) (3) -11,918 53,638 42,529
Total income tax
before credits
(4) 7,123 18,482 22,907
Total Income tax
after credits
(4) 7,123 18,178 21,914
GOODS PRODUCTION
Number of returns 100,482 17,041 10,728
Total assets 215,811,441 118,091,647 164,438,992
Net worth 73,275,276 43,506,012 62,000,925
Total receipts (3) 471,983,018 230,318,986 293,532,589
Business receipts 466,483,370 227,269,909 289,655,296
Interest paid 4,807,316 2,502,962 3,609,258
Net income (less
deficit) (3) 14,246,886 7,147,938 9,010,774
Total income tax
before credits
(4) 1,902,439 1,178,972 1,775,389
Total Income tax
after credits
(4) 1,813,602 1,130,687 1,677,106
CONSTRUCTION
Number of returns 52,662 6,725 3,415
Total assets 109,576,395 46,560,975 50,658,345
Net worth 33,433,185 13,418,999 14,695,954
Total receipts (3) 239,828,740 96,572,192 98,168,364
Business receipts 237,039,668 95,181,786 96,803,966
Interest paid 1,930,495 729,902 669,140
Net income (less
deficit) (3) 7,319,251 3,017,420 3,101,460
Total income tax
before credits
(4) 819,741 379,594 380,164
Total Income tax
after credits
(4) 772,209 367,290 369,361
MANUFACTURING
Number of returns 47,820 10,316 7,313
Total assets 106,235,046 71,530,671 113,780,648
Net worth 39,842,092 30,087,013 47,304,971
Total receipts (3) 232,154,278 133,746,794 195,364,224
Business receipts 229,443,702 132,088,123 192,851,330
Interest paid 2,876,821 1,773,060 2,940,118
Net income (less
deficit) (3) 6,927,636 4,130,518 5,909,314
Total income tax
before credits
(4) 1,082,698 799,377 1,395,225
Total Income tax
after credits
(4) 1,041,393 763,397 1,307,745
DISTRIBUTION AND
TRANSPORTATION OF
GOODS
Number of returns 107,384 18,143 10,304
Total assets 230,281,869 125,188,414 155,871,034
Net worth 74,829,415 34,788,791 45,165,961
Total receipts (3) 734,711,662 409,975,341 479,954,203
Business receipts 724,860,587 404,283,824 472,805,791
Interest paid 5,994,988 3,113,190 3,854,402
Net income (less
deficit) (3) 11,038,153 6,336,534 6,804,624
Total income tax
before credits (4) 1,585,364 888,460 1,288,509
Total Income tax
after credits (4) 1,563,795 864,414 1,259,810
WHOLESALE AND
RETAIL TRADE
Number of returns 96,510 16,515 9,431
Total assets 208,155,076 114,140,812 142,640,124
Net worth 69,217,741 32,352,166 41,304,063
Total receipts (3) 684,254,995 391,088,761 457,130,464
Business receipts 675,342,622 385,838,562 450,524,512
Interest paid 5,217,258 2,811,669 3,456,938
Net income (less
deficit) (3) 10,434,082 5,935,444 6,512,133
Total income tax
before credits
(4) 1,414,214 782,007 1,173,006
Total Income tax
after credits
(4) 1,400,209 762,990 1,149,854
TRANSPORTATION AND
WAREHOUSING
Number of returns 10,874 1,628 873
Total assets 22,126,793 11,047,601 13,230,910
Net worth 5,611,674 2,436,625 3,861,897
Total receipts (3) 50,456,667 18,886,580 22,823,739
Business receipts 49,517,966 18,445,262 22,281,280
Interest paid 777,730 301,521 397,464
Net income (less
deficit) (3) 604,071 401,090 292,491
Total income tax
before credits
(4) 171,150 106,453 115,502
Total Income tax
after credits
(4) 163,586 101,424 109,957
INFORMATION
Number of returns 7,236 1,612 1,249
Total assets 16,160,217 11,585,121 19,836,160
Net worth 3,364,596 4,013,063 7,807,612
Total receipts (3) 23,548,303 16,566,145 16,495,756
Business receipts 22,815,914 15,882,030 15,474,123
Interest paid 470,845 270,196 447,160
Net income (less
deficit) (3) -1,616,990 -1,047,622 -1,355,066
Total income tax
before credits (4) 191,139 125,543 270,896
Total Income tax
after credits (4) 183,253 124,239 262,220
FINANCE, INSURANCE,
REAL ESTATE, AND
RENTAL AND LEASING
Number of returns 63,610 9,041 6,546
Total assets 131,815,277 63,143,138 103,319,720
Net worth 29,397,297 11,453,638 31,077,105
Total receipts (3) 53,859,720 26,481,135 33,179,423
Business receipts 47,924,762 22,207,799 26,855,237
Interest paid 2,787,032 1,550,381 2,330,724
Net income (less
deficit) (3) 2,225,858 781,922 1,043,219
Total income tax
before credits (4) 548,785 353,766 469,689
Total Income tax
after credits (4) 534,787 344,413 457,403
FINANCE AND
INSURANCE
Number of returns 14,739 3,422 3,545
Total assets 31,847,047 24,376,671 57,953,579
Net worth 3,169,845 -748,451 17,556,042
Total receipts (3) 24,274,705 15,355,645 20,575,799
Business receipts 21,925,872 13,014,155 16,362,981
Interest paid 703,404 637,358 1,095,071
Net income (less
deficit) (3) 922,123 484,418 611,875
Total income tax
before credits
(4) 182,687 170,440 257,279
Total Income tax
after credits
(4) 176,098 166,520 251,989
REAL ESTATE AND
RENTAL AND LEASING
Number of returns 48,871 5,620 3,001
Total assets 99,968,230 38,766,467 45,366,141
Net worth 26,227,452 12,202,089 13,521,063
Total receipts (3) 29,585,015 11,125,490 12,603,624
Business receipts 25,998,890 9,193,644 10,492,257
Interest paid 2,083,628 913,023 1,235,653
Net income (less
deficit) (3) 1,303,735 297,503 431,345
Total income tax
before credits
(4) 366,098 183,326 212,410
Total Income tax
after credits
(4) 358,690 177,892 205,414
PROFESSIONAL AND
BUSINESS SERVICES
Number of returns 27,755 4,166 3,149
Total assets 58,643,531 28,553,900 49,652,723
Net worth 20,577,307 11,079,822 19,715,874
Total receipts (3) 127,345,563 45,686,827 55,743,589
Business receipts 123,382,498 43,587,627 52,310,078
Interest paid 1,167,480 520,423 949,333
Net income (less
deficit) (3) 1,619,340 32,945 -862,226
Total income tax
before credits (4) 563,879 319,042 438,142
Total Income tax
after credits (4) 543,743 297,489 417,254
PROFESSIONAL,
SCIENTIFIC, AND
TECHNICAL SERVICES
Number of returns 17,794 2,530 1,598
Total assets 37,237,644 17,197,954 24,369,878
Net worth 11,720,708 5,472,802 9,497,832
Total receipts (3) 88,648,848 32,194,277 36,861,975
Business receipts 86,461,965 30,905,626 35,307,299
Interest paid 715,874 294,268 443,261
Net income (less
deficit) (3) 582,675 -387,933 -1,456,044
Total income tax
before credits
(4) 361,778 213,256 266,782
Total Income tax
after credits
(4) 344,116 203,542 258,860
MANAGEMENT OF
COMPANIES (HOLDING
COMPANIES)
Number of returns 4,305 907 1,108
Total assets 9,345,344 6,465,961 18,452,077
Net worth 5,505,820 4,206,860 8,594,977
Total receipts (3) 1,094,898 579,873 1,659,770
Business receipts 211,439 6,004 297,372
Interest paid 137,501 85,661 340,329
Net income (less
deficit) (3) 283,352 211,406 394,131
Total income tax
before credits
(4) 76,380 67,743 118,113
Total Income tax
after credits
(4) 74,769 57,660 106,748
ADMINISTRATIVE AND
SUPPORT AND WASTE
MANAGEMENT AND
REMEDIATION SERVICES
Number of returns 5,656 730 443
Total assets 12,060,544 4,889,985 6,830,768
Net worth 3,350,779 1,400,159 1,623,066
Total receipts (3) 37,601,817 12,912,676 17,221,844
Business receipts 36,709,093 12,675,997 16,705,407
Interest paid 314,104 140,494 165,743
Net income (less
deficit) (3) 753,312 209,472 199,687
Total income tax
before credits
(4) 125,722 38,043 53,247
Total Income tax
after credits
(4) 124,857 36,288 51,646
EDUCATION, HEALTH, AND
SOCIAL ASSISTANCE
Number of returns 7,154 890 581
Total assets 14,278,373 6,274,638 8,851,991
Net worth 1,489,957 236,881 964,031
Total receipts (3) 45,656,263 14,073,508 16,541,000
Business receipts 44,665,690 13,567,409 15,683,665
Interest paid 532,808 231,440 280,360
Net income (less
deficit) (3) 317,667 -389,670 -472,518
Total income tax
before credits (4) 106,291 28,097 55,987
Total Income tax
after credits (4) 102,953 27,887 53,249
EDUCATIONAL SERVICES
Number of returns 819 92 68
Total assets 1,759,682 657,981 1,016,188
Net worth 620,101 379,198 272,462
Total receipts (3) 3,591,974 926,737 1,615,201
Business receipts 3,457,137 905,841 1,542,012
Interest paid 20,292 8,595 26,488
Net income (less
deficit) (3) 161,239 27,435 10,788
Total income tax
before credits
(4) 15,160 * 9,278 4,416
Total Income tax
after credits
(4) 13,927 * 9,278 4,239
HEALTH CARE AND
SOCIAL ASSISTANCE
Number of returns 6,336 798 512
Total assets 12,518,691 5,616,656 7,835,803
Net worth 869,856 -142,318 691,569
Total receipts (3) 42,064,289 13,146,770 14,925,798
Business receipts 41,208,553 12,661,568 14,141,652
Interest paid 512,516 222,845 253,872
Net income (less
deficit) (3) 156,427 -417,105 -483,307
Total income tax
before credits
(4) 91,131 18,819 51,571
Total Income tax
after credits
(4) 89,026 18,609 49,010
LEISURE, ACCOMMODATION
AND FOOD SERVICES
Number of returns 18,390 2,063 1,016
Total assets 36,927,242 14,268,342 15,638,755
Net worth 6,703,163 2,800,290 4,365,946
Total receipts (3) 44,542,600 16,565,015 16,593,336
Business receipts 43,421,970 16,032,766 15,440,626
Interest paid 1,607,565 565,772 566,881
Net income (less
deficit) (3) 1,255,883 164,169 326,172
Total income tax
before credits (4) 119,792 49,630 79,088
Total Income tax
after credits (4) 110,630 41,927 71,181
ARTS, ENTERTAINMENT,
AND RECREATION
Number of returns 4,808 633 365
Total assets 9,586,586 4,437,467 5,717,052
Net worth 2,234,624 836,759 2,059,518
Total receipts (3) 9,175,972 3,849,902 4,237,602
Business receipts 8,673,250 3,628,778 3,545,622
Interest paid 330,309 115,520 148,456
Net income (less
deficit) (3) 391,505 4,199 90,123
Total income tax
before credits
(4) 62,747 20,088 27,693
Total Income tax
after credits
(4) 59,322 17,077 27,201
ACCOMMODATION AND
FOOD SERVICES
Number of returns 13,582 1,431 651
Total assets 27,340,656 9,830,874 9,921,703
Net worth 4,468,539 1,963,531 2,306,427
Total receipts (3) 35,366,628 12,715,113 12,355,734
Business receipts 34,748,721 12,403,988 11,895,003
Interest paid 1,277,256 450,251 418,425
Net income (less
deficit) (3) 864,378 159,970 236,048
Total income tax
before credits
(4) 57,045 29,542 51,395
Total Income tax
after credits
(4) 51,307 24,850 43,981
OTHER SERVICES
Number of returns 7,998 422 267
Total assets 14,544,339 3,050,901 3,971,764
Net worth 5,857,486 1,160,965 1,647,540
Total receipts (3) 23,671,411 4,167,341 5,597,727
Business receipts 22,803,318 3,993,830 5,297,097
Interest paid 377,743 79,060 93,519
Net income (less
deficit) (3) 738,108 54,280 247,700
Total income tax
before credits (4) 118,006 18,302 40,020
Total Income tax
after credits (4) 116,419 17,761 39,560
Size of total assets
$25,000,000 $50,000,000
Item, industrial under under
sector $50,000,000 $100,000,000
(10) (11)
ALL INDUSTRIES (2)
Number of returns 13,632 9,287
Total assets 479,299,666 660,246,580
Net worth 174,887,955 265,108,738
Total receipts (3) 586,493,996 551,584,347
Business receipts 560,176,349 514,354,708
Interest paid 10,931,970 15,105,718
Net income (less
deficit) (3) 10,418,879 12,688,602
Total income tax
before credits (4) 4,050,596 4,842,577
Total Income tax
after credits (4) 3,823,442 4,523,683
RAW MATERIALS AND
ENERGY PRODUCTION
Number of returns 361 229
Total assets 12,692,469 16,494,368
Net worth 5,096,465 7,421,849
Total receipts (3) 12,409,774 13,350,642
Business receipts 11,540,686 12,499,898
Interest paid 335,819 391,716
Net income (less
deficit) (3) 11,030 230,307
Total income tax
before credits (4) 92,552 153,386
Total Income tax
after credits (4) 86,303 135,806
AGRICULTURE,
FORESTRY, FISHING,
AND HUNTING
Number of returns 131 84
Total assets 4,556,217 6,206,898
Net worth 1,746,785 2,301,598
Total receipts (3) 5,200,673 7,475,845
Business receipts 4,917,903 7,136,671
Interest paid 125,111 160,728
Net income (less
deficit) (3) -22,153 108,143
Total income tax
before credits
(4) 25,979 51,468
Total Income tax
after credits
(4) 25,658 48,848
MINING
Number of returns 179 117
Total assets 6,311,775 8,334,236
Net worth 3,052,700 4,514,024
Total receipts (3) 4,494,054 3,763,240
Business receipts 4,061,486 3,340,209
Interest paid 162,088 179,553
Net income (less
deficit) (3) -28,959 31,780
Total income tax
before credits
(4) 43,082 70,688
Total Income tax
after credits
(4) 39,973 56,777
UTILITIES
Number of returns 51 27
Total assets 1,824,477 1,953,234
Net worth 296,980 606,227
Total receipts (3) 2,715,046 2,111,556
Business receipts 2,561,296 2,023,018
Interest paid 48,620 51,435
Net income (less
deficit) (3) 62,141 90,384
Total income tax
before credits
(4) 23,491 31,231
Total Income tax
after credits
(4) 20,672 30,182
GOODS PRODUCTION
Number of returns 3,748 2,010
Total assets 130,204,441 140,979,632
Net worth 52,739,117 56,464,021
Total receipts (3) 208,175,643 195,936,045
Business receipts 204,218,814 191,063,424
Interest paid 3,019,550 3,603,942
Net income (less
deficit) (3) 6,692,722 5,381,396
Total income tax
before credits
(4) 1,658,213 1,824,135
Total Income tax
after credits
(4) 1,521,862 1,638,756
CONSTRUCTION
Number of returns 828 333
Total assets 28,573,670 23,324,647
Net worth 8,500,678 7,002,327
Total receipts (3) 52,609,376 38,975,853
Business receipts 51,664,412 38,006,012
Interest paid 423,156 389,614
Net income (less
deficit) (3) 1,615,480 1,107,009
Total income tax
before credits
(4) 181,047 154,199
Total Income tax
after credits
(4) 176,230 152,229
MANUFACTURING
Number of returns 2,920 1,678
Total assets 101,630,771 117,654,985
Net worth 44,238,438 49,461,694
Total receipts (3) 155,566,267 156,960,192
Business receipts 152,554,403 153,057,412
Interest paid 2,596,394 3,214,328
Net income (less
deficit) (3) 5,077,242 4,274,387
Total income tax
before credits
(4) 1,477,166 1,669,936
Total Income tax
after credits
(4) 1,345,632 1,486,527
DISTRIBUTION AND
TRANSPORTATION OF
GOODS
Number of returns 2,790 1,318
Total assets 96,283,863 92,131,818
Net worth 29,575,715 30,697,994
Total receipts (3) 255,441,920 215,176,069
Business receipts 249,281,014 211,128,362
Interest paid 2,429,570 2,374,490
Net income (less
deficit) (3) 3,787,376 3,284,969
Total income tax
before credits (4) 1,022,064 1,027,090
Total Income tax
after credits (4) 986,778 994,059
WHOLESALE AND
RETAIL TRADE
Number of returns 2,513 1,175
Total assets 86,592,934 81,846,527
Net worth 26,266,632 27,096,505
Total receipts (3) 240,448,507 201,409,235
Business receipts 234,823,624 197,743,512
Interest paid 2,172,382 2,100,426
Net income (less
deficit) (3) 3,545,393 3,030,401
Total income tax
before credits
(4) 907,843 908,128
Total Income tax
after credits
(4) 876,140 881,967
TRANSPORTATION AND
WAREHOUSING
Number of returns 277 144
Total assets 9,690,929 10,285,291
Net worth 3,309,083 3,601,489
Total receipts (3) 14,993,413 13,766,834
Business receipts 14,457,390 13,384,849
Interest paid 257,188 274,064
Net income (less
deficit) (3) 241,982 254,568
Total income tax
before credits
(4) 114,221 118,962
Total Income tax
after credits
(4) 110,638 112,092
INFORMATION
Number of returns 572 337
Total assets 19,926,443 24,149,322
Net worth 8,963,833 10,151,844
Total receipts (3) 13,543,031 13,977,770
Business receipts 12,269,176 12,980,428
Interest paid 381,384 571,295
Net income (less
deficit) (3) -997,986 -1,101,823
Total income tax
before credits (4) 282,054 301,436
Total Income tax
after credits (4) 272,927 283,697
FINANCE, INSURANCE,
REAL ESTATE, AND
RENTAL AND LEASING
Number of returns 3,607 3,238
Total assets 128,582,355 231,746,083
Net worth 52,358,871 122,465,886
Total receipts (3) 29,974,322 38,292,589
Business receipts 21,876,427 22,155,588
Interest paid 2,400,294 3,865,305
Net income (less
deficit) (3) 1,691,937 4,686,641
Total income tax
before credits (4) 457,088 606,543
Total Income tax
after credits (4) 439,820 585,885
FINANCE AND
INSURANCE
Number of returns 2,714 2,884
Total assets 97,882,830 207,614,380
Net worth 43,711,210 115,818,391
Total receipts (3) 21,265,035 30,935,405
Business receipts 14,671,060 16,604,831
Interest paid 1,523,183 2,995,351
Net income (less
deficit) (3) 1,813,365 4,596,226
Total income tax
before credits
(4) 306,798 482,941
Total Income tax
after credits
(4) 299,356 469,120
REAL ESTATE AND
RENTAL AND LEASING
Number of returns 893 354
Total assets 30,699,526 24,131,703
Net worth 8,647,662 6,647,495
Total receipts (3) 8,709,287 7,357,183
Business receipts 7,205,367 5,550,757
Interest paid 877,111 869,954
Net income (less
deficit) (3) -121,428 90,415
Total income tax
before credits
(4) 150,290 123,603
Total Income tax
after credits
(4) 140,464 116,765
PROFESSIONAL AND
BUSINESS SERVICES
Number of returns 1,932 1,809
Total assets 69,833,098 129,548,401
Net worth 20,226,982 30,745,408
Total receipts (3) 39,992,363 46,426,685
Business receipts 35,433,426 37,776,456
Interest paid 1,689,076 3,388,216
Net income (less
deficit) (3) -552,198 278,674
Total income tax
before credits (4) 422,380 726,861
Total Income tax
after credits (4) 404,733 696,921
PROFESSIONAL,
SCIENTIFIC, AND
TECHNICAL SERVICES
Number of returns 584 406
Total assets 20,247,277 28,392,266
Net worth 8,093,346 13,071,040
Total receipts (3) 26,259,280 27,851,917
Business receipts 24,810,896 26,026,235
Interest paid 361,620 455,566
Net income (less
deficit) (3) -975,432 -1,025,830
Total income tax
before credits
(4) 220,101 272,338
Total Income tax
after credits
(4) 208,983 254,226
MANAGEMENT OF
COMPANIES (HOLDING
COMPANIES)
Number of returns 1,183 1,302
Total assets 43,868,070 94,221,189
Net worth 10,443,515 15,637,797
Total receipts (3) 3,200,954 7,535,596
Business receipts 499,835 1,210,926
Interest paid 1,166,092 2,757,287
Net income (less
deficit) (3) 371,300 1,324,568
Total income tax
before credits
(4) 156,814 400,686
Total Income tax
after credits
(4) 152,800 392,409
ADMINISTRATIVE AND
SUPPORT AND WASTE
MANAGEMENT AND
REMEDIATION SERVICES
Number of returns 166 101
Total assets 5,717,751 6,934,945
Net worth 1,690,121 2,036,571
Total receipts (3) 10,532,128 11,039,172
Business receipts 10,122,695 10,539,296
Interest paid 161,363 175,363
Net income (less
deficit) (3) 51,933 -20,064
Total income tax
before credits
(4) 45,465 53,836
Total Income tax
after credits
(4) 42,949 50,286
EDUCATION, HEALTH, AND
SOCIAL ASSISTANCE
Number of returns 229 111
Total assets 7,952,592 8,119,118
Net worth 1,840,386 2,031,777
Total receipts (3) 12,858,920 11,376,605
Business receipts 12,179,240 10,885,484
Interest paid 229,473 294,929
Net income (less
deficit) (3) -431,763 -145,200
Total income tax
before credits (4) 30,867 86,930
Total Income tax
after credits (4) 30,178 84,593
EDUCATIONAL SERVICES
Number of returns 28 17
Total assets 971,745 1,252,008
Net worth 373,368 422,052
Total receipts (3) 864,737 1,598,103
Business receipts 837,494 1,559,536
Interest paid 19,543 25,290
Net income (less
deficit) (3) -57,529 55,396
Total income tax
before credits
(4) 6,603 35,928
Total Income tax
after credits
(4) 6,550 34,481
HEALTH CARE AND
SOCIAL ASSISTANCE
Number of returns 201 94
Total assets 6,980,847 6,867,111
Net worth 1,467,018 1,609,725
Total receipts (3) 11,994,183 9,778,501
Business receipts 11,341,746 9,325,947
Interest paid 209,930 269,639
Net income (less
deficit) (3) -374,235 -200,596
Total income tax
before credits
(4) 24,264 51,002
Total Income tax
after credits
(4) 23,629 50,113
LEISURE, ACCOMMODATION
AND FOOD SERVICES
Number of returns 317 185
Total assets 11,151,053 13,494,402
Net worth 2,946,001 3,795,081
Total receipts (3) 10,990,283 12,878,834
Business receipts 10,405,232 11,831,312
Interest paid 386,199 502,158
Net income (less
deficit) (3) 141,586 158,690
Total income tax
before credits (4) 61,721 90,453
Total Income tax
after credits (4) 57,634 79,479
ARTS, ENTERTAINMENT,
AND RECREATION
Number of returns 114 64
Total assets 4,041,001 4,655,727
Net worth 1,397,985 1,512,340
Total receipts (3) 2,738,220 3,846,720
Business receipts 2,420,065 3,332,634
Interest paid 95,958 140,715
Net income (less
deficit) (3) 64,839 80,567
Total income tax
before credits
(4) 23,782 29,446
Total Income tax
after credits
(4) 22,922 27,235
ACCOMMODATION AND
FOOD SERVICES
Number of returns 203 120
Total assets 7,110,052 8,838,674
Net worth 1,548,015 2,282,741
Total receipts (3) 8,252,063 9,032,113
Business receipts 7,985,167 8,498,677
Interest paid 290,241 361,442
Net income (less
deficit) (3) 76,747 78,123
Total income tax
before credits
(4) 37,939 61,007
Total Income tax
after credits
(4) 34,712 52,244
OTHER SERVICES
Number of returns 75 49
Total assets 2,673,352 3,583,437
Net worth 1,140,586 1,334,879
Total receipts (3) 3,107,740 4,169,109
Business receipts 2,972,335 4,033,756
Interest paid 60,606 113,667
Net income (less
deficit) (3) 76,175 -85,054
Total income tax
before credits (4) 23,657 25,742
Total Income tax
after credits (4) 23,208 24,485
Size of total assets
$100,000,000 $250,000,000
Item, industrial under or
sector $250,000,000 more
(12) (13)
ALL INDUSTRIES (2)
Number of returns 8,434 10,380
Total assets 1,334,487,915 36,709,838,024
Net worth 590,422,207 13,696,326,381
Total receipts (3) 811,656,923 11,222,106,280
Business receipts 729,552,984 9,022,248,118
Interest paid 29,612,011 840,710,150
Net income (less
deficit) (3) 28,929,478 757,924,880
Total income tax
before credits (4) 9,802,123 199,490,347
Total Income tax
after credits (4) 8,929,821 154,089,486
RAW MATERIALS AND
ENERGY PRODUCTION
Number of returns 173 346
Total assets 26,734,341 1,479,250,999
Net worth 9,105,874 534,790,432
Total receipts (3) 16,465,535 591,561,048
Business receipts 14,890,654 544,648,886
Interest paid 994,847 37,599,028
Net income (less
deficit) (3) -84,112 38,324,239
Total income tax
before credits (4) 177,615 15,359,635
Total Income tax
after credits (4) 147,601 13,547,352
AGRICULTURE,
FORESTRY, FISHING,
AND HUNTING
Number of returns 43 19
Total assets 6,266,114 14,872,156
Net worth 2,527,390 6,301,013
Total receipts (3) 6,349,670 9,145,081
Business receipts 5,937,196 8,500,359
Interest paid 195,699 467,680
Net income (less
deficit) (3) 106,024 408,659
Total income tax
before credits
(4) 52,792 164,752
Total Income tax
after credits
(4) 47,901 121,203
MINING
Number of returns 89 156
Total assets 14,238,814 307,754,406
Net worth 5,399,237 157,030,953
Total receipts (3) 6,603,166 85,939,925
Business receipts 5,928,995 74,973,344
Interest paid 519,551 7,479,561
Net income (less
deficit) (3) -506,530 -263,639
Total income tax
before credits
(4) 54,948 1,375,111
Total Income tax
after credits
(4) 47,462 757,935
UTILITIES
Number of returns 41 171
Total assets 6,229,413 1,156,624,437
Net worth 1,179,247 371,458,466
Total receipts (3) 3,512,700 496,476,042
Business receipts 3,024,463 461,175,183
Interest paid 279,597 29,651,787
Net income (less
deficit) (3) 316,394 38,179,218
Total income tax
before credits
(4) 69,875 13,819,773
Total Income tax
after credits
(4) 52,238 12,668,213
GOODS PRODUCTION
Number of returns 1,527 1,692
Total assets 239,460,384 6,144,499,163
Net worth 95,856,131 2,072,114,218
Total receipts (3) 295,975,595 3,943,591,501
Business receipts 286,319,557 3,564,597,051
Interest paid 6,766,965 162,946,060
Net income (less
deficit) (3) 9,494,161 210,833,883
Total income tax
before credits
(4) 4,043,968 76,150,840
Total Income tax
after credits
(4) 3,512,913 47,424,700
CONSTRUCTION
Number of returns 159 125
Total assets 24,092,918 105,012,551
Net worth 7,887,292 33,510,716
Total receipts (3) 34,742,760 125,206,813
Business receipts 33,564,304 119,579,901
Interest paid 522,446 1,863,117
Net income (less
deficit) (3) 1,048,598 5,411,281
Total income tax
before credits
(4) 241,182 1,619,939
Total Income tax
after credits
(4) 236,285 1,477,558
MANUFACTURING
Number of returns 1,368 1,567
Total assets 215,367,466 6,039,486,612
Net worth 87,968,839 2,038,603,502
Total receipts (3) 261,232,835 3,818,384,688
Business receipts 252,755,253 3,445,017,151
Interest paid 6,244,520 161,082,943
Net income (less
deficit) (3) 8,445,563 205,422,601
Total income tax
before credits
(4) 3,802,786 74,530,901
Total Income tax
after credits
(4) 3,276,628 45,947,142
DISTRIBUTION AND
TRANSPORTATION OF
GOODS
Number of returns 893 782
Total assets 140,782,911 1,624,137,431
Net worth 45,868,896 574,665,162
Total receipts (3) 283,499,887 2,310,997,478
Business receipts 275,886,915 2,217,859,611
Interest paid 3,917,386 44,912,361
Net income (less
deficit) (3) 4,968,228 58,339,035
Total income tax
before credits (4) 1,889,323 23,492,500
Total Income tax
after credits (4) 1,833,990 21,151,697
WHOLESALE AND
RETAIL TRADE
Number of returns 753 664
Total assets 119,851,082 1,234,664,882
Net worth 39,597,454 434,115,454
Total receipts (3) 259,860,594 2,021,163,986
Business receipts 253,578,686 1,943,502,280
Interest paid 3,317,276 34,490,604
Net income (less
deficit) (3) 4,298,802 50,952,592
Total income tax
before credits
(4) 1,620,115 19,995,945
Total Income tax
after credits
(4) 1,572,827 18,226,892
TRANSPORTATION AND
WAREHOUSING
Number of returns 140 118
Total assets 20,931,829 389,472,549
Net worth 6,271,442 140,549,708
Total receipts (3) 23,639,293 289,813,491
Business receipts 22,308,229 274,357,331
Interest paid 600,109 10,421,757
Net income (less
deficit) (3) 669,426 7,386,443
Total income tax
before credits
(4) 269,208 3,496,555
Total Income tax
after credits
(4) 261,163 2,924,805
INFORMATION
Number of returns 276 408
Total assets 42,869,790 2,175,985,315
Net worth 16,351,427 919,932,864
Total receipts (3) 25,354,529 707,244,549
Business receipts 23,035,542 593,877,823
Interest paid 1,218,747 53,464,250
Net income (less
deficit) (3) -1,294,592 48,031,227
Total income tax
before credits (4) 441,744 22,088,332
Total Income tax
after credits (4) 376,087 20,040,130
FINANCE, INSURANCE,
REAL ESTATE, AND
RENTAL AND LEASING
Number of returns 3,640 5,586
Total assets 585,743,712 19,032,223,157
Net worth 359,256,480 8,467,316,216
Total receipts (3) 83,155,504 2,720,197,529
Business receipts 41,606,684 1,586,455,353
Interest paid 8,058,063 339,524,103
Net income (less
deficit) (3) 13,578,817 333,642,449
Total income tax
before credits (4) 1,447,451 36,876,330
Total Income tax
after credits (4) 1,409,613 30,463,450
FINANCE AND
INSURANCE
Number of returns 3,431 5,446
Total assets 553,675,313 18,829,260,794
Net worth 348,882,983 8,415,430,336
Total receipts (3) 74,683,220 2,648,865,896
Business receipts 34,775,631 1,526,241,900
Interest paid 7,023,216 331,637,447
Net income (less
deficit) (3) 13,455,168 333,789,970
Total income tax
before credits
(4) 1,284,924 36,220,428
Total Income tax
after credits
(4) 1,261,824 29,881,681
REAL ESTATE AND
RENTAL AND LEASING
Number of returns 209 140
Total assets 32,068,399 202,962,363
Net worth 10,373,497 51,885,880
Total receipts (3) 8,472,284 71,331,633
Business receipts 6,831,053 60,213,453
Interest paid 1,034,847 7,886,656
Net income (less
deficit) (3) 123,649 -147,521
Total income tax
before credits
(4) 162,527 655,902
Total Income tax
after credits
(4) 147,789 581,770
PROFESSIONAL AND
BUSINESS SERVICES
Number of returns 1,672 1,322
Total assets 259,496,118 5,849,587,037
Net worth 53,855,599 970,590,373
Total receipts (3) 69,580,303 673,100,208
Business receipts 52,679,889 266,652,811
Interest paid 7,296,326 187,339,690
Net income (less
deficit) (3) 2,636,729 60,237,289
Total income tax
before credits (4) 1,464,043 21,244,664
Total Income tax
after credits (4) 1,343,666 18,008,235
PROFESSIONAL,
SCIENTIFIC, AND
TECHNICAL SERVICES
Number of returns 234 163
Total assets 36,020,759 163,652,080
Net worth 17,101,583 66,498,513
Total receipts (3) 34,212,970 117,846,252
Business receipts 32,012,586 106,473,705
Interest paid 749,508 2,937,703
Net income (less
deficit) (3) -460,542 5,668,784
Total income tax
before credits
(4) 395,552 2,480,656
Total Income tax
after credits
(4) 356,569 1,894,965
MANAGEMENT OF
COMPANIES (HOLDING
COMPANIES)
Number of returns 1,358 1,079
Total assets 210,823,470 5,548,105,258
Net worth 31,805,783 858,220,963
Total receipts (3) 16,524,408 471,479,639
Business receipts 2,803,290 84,033,264
Interest paid 6,227,525 180,884,055
Net income (less
deficit) (3) 2,794,679 51,385,634
Total income tax
before credits
(4) 878,387 17,644,977
Total Income tax
after credits
(4) 809,683 15,385,480
ADMINISTRATIVE AND
SUPPORT AND WASTE
MANAGEMENT AND
REMEDIATION SERVICES
Number of returns 80 80
Total assets 12,651,889 137,829,699
Net worth 4,948,232 45,870,897
Total receipts (3) 18,842,925 83,774,317
Business receipts 17,864,012 76,145,843
Interest paid 319,293 3,517,932
Net income (less
deficit) (3) 302,592 3,182,871
Total income tax
before credits
(4) 190,104 1,119,031
Total Income tax
after credits
(4) 177,414 727,790
EDUCATION, HEALTH, AND
SOCIAL ASSISTANCE
Number of returns 79 74
Total assets 12,184,946 143,927,903
Net worth 2,539,850 57,411,869
Total receipts (3) 12,282,175 100,050,545
Business receipts 11,713,178 93,595,521
Interest paid 458,289 4,843,492
Net income (less
deficit) (3) -428,704 1,138,864
Total income tax
before credits (4) 95,685 1,341,332
Total Income tax
after credits (4) 90,330 1,301,371
EDUCATIONAL SERVICES
Number of returns 11 7
Total assets 1,627,830 3,556,431
Net worth 707,699 2,129,880
Total receipts (3) 1,625,520 2,406,734
Business receipts 1,569,234 2,202,965
Interest paid 41,184 69,743
Net income (less
deficit) (3) 62,748 91,694
Total income tax
before credits
(4) 32,164 65,394
Total Income tax
after credits
(4) 30,549 62,541
HEALTH CARE AND
SOCIAL ASSISTANCE
Number of returns 68 67
Total assets 10,557,116 140,371,471
Net worth 1,832,151 55,281,989
Total receipts (3) 10,656,655 97,643,811
Business receipts 10,143,944 91,392,555
Interest paid 417,105 4,773,749
Net income (less
deficit) (3) -491,451 1,047,170
Total income tax
before credits
(4) 63,521 1,275,938
Total Income tax
after credits
(4) 59,781 1,238,830
LEISURE, ACCOMMODATION
AND FOOD SERVICES
Number of returns 148 147
Total assets 23,466,554 232,975,957
Net worth 6,824,574 91,620,678
Total receipts (3) 21,401,807 159,101,771
Business receipts 19,636,662 139,338,491
Interest paid 769,146 9,090,071
Net income (less
deficit) (3) 116,398 6,724,814
Total income tax
before credits (4) 231,755 2,680,528
Total Income tax
after credits (4) 205,087 1,917,086
ARTS, ENTERTAINMENT,
AND RECREATION
Number of returns 52 30
Total assets 8,197,478 35,548,188
Net worth 2,874,381 11,558,265
Total receipts (3) 5,623,230 17,557,848
Business receipts 4,823,280 15,387,656
Interest paid 228,718 1,651,697
Net income (less
deficit) (3) 101,457 -95,092
Total income tax
before credits
(4) 81,832 172,316
Total Income tax
after credits
(4) 80,482 138,716
ACCOMMODATION AND
FOOD SERVICES
Number of returns 96 117
Total assets 15,269,076 197,427,769
Net worth 3,950,193 80,062,412
Total receipts (3) 15,778,577 141,543,923
Business receipts 14,813,382 123,950,835
Interest paid 540,429 7,438,374
Net income (less
deficit) (3) 14,941 6,819,906
Total income tax
before credits
(4) 149,922 2,508,212
Total Income tax
after credits
(4) 124,605 1,778,370
OTHER SERVICES
Number of returns 24 23
Total assets 3,749,160 27,251,062
Net worth 763,376 7,884,569
Total receipts (3) 3,941,587 16,261,652
Business receipts 3,783,903 15,222,571
Interest paid 132,242 991,095
Net income (less
deficit) (3) -57,448 653,081
Total income tax
before credits (4) 10,539 256,186
Total Income tax
after credits (4) 10,535 235,464
* Estimates should be used with caution because of the small number of
sample returns on which they were based.
(1) Zero assets class includes returns of liquidating or dissolving
corporations that disposed of all assets, final returns of merging
companies whose assets were included in the returns of the acquiring
corporations, part-year returns (except those of newly-incorporated
businesses), and returns of foreign corporations with income
“effectively connected” with a U.S. trade or business (except foreign
insurance companies providing separate data for U.S. branches, assets
for which are included in the appropriate size class).
(2) Includes returns not allocable by industrial division, which are
not shown separately.
(3) Excludes net long-term capital gain reduced by net short-term
capital loss of regulated investment companies and investment income,
including capital gains of “S corporations” (qualifying corporations
electing to be taxed through shareholders).
(4) For purposes of the statistics, includes not only income tax, but
alternative minimum tax, tax from recapture of investment and
low-income housing credits, and certain other taxes. By law, only
income tax could be reduced by tax credits.
NOTE: Detail may not add to totals because of rounding.
Table 2.–Selected Balance Sheet, Income Statement, and Tax Items by
Asset Size
[All figures are estimates based on samples–money amounts are inthousands of dollars; size of total assets is in whole dollars]
Size of total assets
$1
Item Total Zero under
assets (1) $100,000
(1) (2) (3)
Number of returns 4,935,904 313,004 2,532,700
Total assets 41,464,152,854 — 76,119,037
Cash 1,596,525,490 — 21,513,188
Notes and accounts
receivable 7,744,960,605 — 6,198,704
Less: Allowance for
bad debts 139,597,391 — 98,061
Inventories 1,198,184,825 — 7,244,898
Investment in U.S.
Government
obligations 1,340,484,175 — 64,069
Tax-exempt securities 957,099,790 — 43,547
Other current assets 2,639,764,762 — 3,399,673
Loans to stockholders 126,016,307 — 5,645,890
Mortgage and real
estate loans 2,554,658,266 — 261,725
Other investments 15,799,039,436 — 2,332,355
Depreciable assets 6,935,503,013 — 96,169,366
Less: Accumulated
depreciation 3,227,243,753 — 71,487,438
Depletable assets 183,593,413 — 247,142
Less: Accumulated
depletion 85,660,310 — 140,353
Land 286,497,086 — 1,568,023
Intangible assets 1,717,251,430 — 4,665,111
Less: Accumulated
amortization 280,555,798 — 2,358,553
Other assets 2,117,631,510 — 849,751
Total liabilities 41,464,152,854 — 76,119,037
Accounts payable 2,792,333,967 — 9,870,906
Mortgages, notes, and
bonds payable in less
than 1 year 3,658,308,770 — 9,668,538
Other current
liabilities 9,103,186,192 — 12,786,961
Loans from stockholders 394,938,632 — 40,422,123
Mortgages, notes, and
bonds payable in 1
year or more 5,448,156,416 — 23,079,543
Other liabilities 4,704,367,882 — 2,306,756
Net worth 15,362,860,996 — -22,015,791
Capital stock 3,521,992,715 — 16,817,422
Paid-in or capital
surplus 10,186,395,658 — 20,530,773
Retained earnings,
appropriated 210,792,152 — 272,565
Retained earnings,
unappropriated 3,741,892,919 — -55,450,684
Adjustment to share-
holders equity 17,108,266 — -489,260
Less: Cost of
treasury stock 2,315,320,710 — 3,696,606
Total receipts 18,892,385,694 442,802,754 549,906,336
Business receipts 16,313,971,385 328,752,464 539,453,319
Interest 1,301,772,282 74,911,262 761,958
Interest on State and
local Government
obligations 51,780,203 622,545 13,172
Rents 117,644,823 2,557,602 448,810
Royalties 105,741,540 1,398,824 86,181
Net short-term capital
gain less net long-
term capital loss 94,913,405 1,496,941 77,290
Net long-term capital
gain less net short-
term capital loss (2) 146,520,147 8,049,378 473,054
Net gain, noncapital
assets 64,698,446 4,006,068 743,916
Dividends, domestic
corporations 20,679,644 277,849 47,756
Dividends, foreign
corporations 64,905,407 1,945,781 —
Other receipts 609,758,412 18,784,041 7,800,879
Total deductions 17,966,972,060 434,851,543 529,607,238
Cost of goods sold 10,284,098,039 207,563,673 184,721,349
Compensation of
officers 373,735,141 5,783,450 74,888,957
Salaries and wages (3) 1,783,025,584 36,819,635 80,364,077
Repairs 133,209,853 4,557,637 5,292,959
Bad debts 100,202,508 3,710,225 691,699
Rent on business
property 347,245,365 7,311,030 28,120,457
Taxes paid 371,183,229 12,953,614 16,783,944
Interest paid 1,018,972,484 63,845,315 3,638,275
Contributions or gifts 10,732,153 111,495 107,601
Amortization 86,124,690 2,196,784 419,672
Depreciation 583,799,587 14,291,336 7,599,259
Depletion 9,803,284 340,849 27,299
Advertising 216,066,879 4,146,067 5,436,126
Pension, profit-
sharing, stock bonus
and annuity plans 76,779,560 1,367,730 5,335,566
Employee benefit
programs 203,531,897 3,988,907 4,513,358
Net loss, noncapital
assets 29,065,260 3,775,029 437,948
Other deductions 2,339,396,551 62,088,767 111,228,693
Total receipts less total
deductions 925,413,634 7,951,211 20,299,098
Constructive taxable
income from related
foreign corporations 55,322,097 452,179 * 17,232
Net income (less
deficit), total 928,955,528 7,780,844 20,303,158
Net income, total 1,229,295,911 31,959,541 34,503,263
Deficit, total 300,340,383 24,178,696 14,200,105
Net income (less
deficit), Form 1120-A 132,033 12,431 45,268
Net income (less
deficit), Form 1120-F -1,546,753 -1,546,753 —
Net income (less
deficit), Form
1120S (4) 137,348,605 -235,716 21,547,011
Statutory special
deductions, total (5) 356,489,336 7,253,403 2,443,391
Net operating loss
deduction 64,928,288 3,476,942 2,409,777
Dividends received
deduction 30,766,776 399,996 31,867
Public utility
dividends paid
deduction 25,671 253 —
Income subject to tax (6) 693,735,694 21,058,505 2,930,080
Total income tax before
credits (7) 241,987,588 7,488,895 551,106
Income tax 238,722,344 7,261,232 549,012
Personal Holding
Company tax 11,449 * 1,018 * 138
Recapture taxes (8) 9,838 — —
Alternative minimum tax 3,051,869 125,264 * 1,101
Foreign tax credit 38,389,989 1,390,452 * 1,207
U.S. possessions tax
credit 1,485,261 34,745 8
Nonconventional source
fuel credit 886,835 13,768 (9)
General business credit 4,763,022 84,910 6,904
Prior-year minimum tax
credit 3,431,478 28,970 * 1,171
Total income tax after
credits (10) 193,027,641 5,936,050 541,816
Size of total assets
$100,000 $250,000 $500,000
Item under under under
$250,000 $500,000 $1,000,000
(4) (5) (6)
Number of returns 791,524 477,927 330,757
Total assets 129,018,321 169,121,053 231,018,299
Cash 25,442,101 28,398,807 33,271,598
Notes and accounts
receivable 15,301,767 25,011,804 40,570,078
Less: Allowance for
bad debts 248,352 227,642 365,522
Inventories 16,259,292 22,154,577 34,422,179
Investment in U.S.
Government
obligations 168,682 474,905 610,495
Tax-exempt securities 97,758 215,710 405,019
Other current assets 5,738,162 8,659,562 11,540,479
Loans to stockholders 7,253,277 6,680,971 6,676,096
Mortgage and real
estate loans 1,416,053 1,846,579 2,771,453
Other investments 6,256,696 9,766,682 14,777,592
Depreciable assets 106,968,957 119,322,539 147,422,977
Less: Accumulated
depreciation 68,850,525 72,316,308 86,329,874
Depletable assets 387,769 882,344 574,798
Less: Accumulated
depletion 207,450 478,435 208,806
Land 5,350,093 9,817,130 15,844,138
Intangible assets 7,587,641 7,450,703 7,094,302
Less: Accumulated
amortization 2,968,760 2,519,613 2,306,415
Other assets 3,065,157 3,980,739 4,247,713
Total liabilities 129,018,321 169,121,053 231,018,299
Accounts payable 13,784,351 19,807,755 31,237,859
Mortgages, notes, and
bonds payable in less
than 1 year 13,738,678 15,497,021 21,393,904
Other current
liabilities 12,834,715 15,242,952 20,034,089
Loans from stockholders 28,266,397 24,813,706 26,297,905
Mortgages, notes, and
bonds payable in 1
year or more 31,655,667 40,145,822 54,306,220
Other liabilities 6,583,932 4,859,960 11,360,795
Net worth 22,154,582 48,753,839 66,387,527
Capital stock 15,842,299 16,393,375 19,114,188
Paid-in or capital
surplus 19,729,928 19,733,103 26,026,218
Retained earnings,
appropriated 675,159 859,270 991,070
Retained earnings,
unappropriated -9,300,053 16,653,729 26,776,893
Adjustment to share-
holders equity -38,504 -38,899 18,771
Less: Cost of
treasury stock 4,754,247 4,846,739 6,539,612
Total receipts 455,915,059 452,379,355 548,910,002
Business receipts 446,185,317 443,125,601 535,897,926
Interest 672,043 958,719 1,218,675
Interest on State and
local Government
obligations 62,847 20,003 93,231
Rents 339,501 581,127 545,951
Royalties 41,026 38,640 52,920
Net short-term capital
gain less net long-
term capital loss 105,343 169,681 139,917
Net long-term capital
gain less net short-
term capital loss (2) 773,079 840,771 1,055,581
Net gain, noncapital
assets 747,972 600,337 938,435
Dividends, domestic
corporations 54,413 114,083 122,819
Dividends, foreign
corporations * 68,232 4,881 * 364
Other receipts 6,865,284 5,925,512 8,844,183
Total deductions 444,177,483 442,182,218 537,752,954
Cost of goods sold 198,576,676 230,399,336 310,522,257
Compensation of
officers 47,037,664 31,984,458 33,483,760
Salaries and wages (3) 64,864,416 59,653,941 65,354,185
Repairs 4,557,493 4,418,237 4,875,904
Bad debts 719,168 883,288 1,371,772
Rent on business
property 18,758,505 16,344,261 16,330,533
Taxes paid 13,340,671 12,784,641 14,111,629
Interest paid 3,939,772 4,572,740 5,989,986
Contributions or gifts 89,900 83,720 107,520
Amortization 567,631 579,225 676,517
Depreciation 8,349,001 9,036,636 10,779,909
Depletion 14,190 14,737 21,758
Advertising 4,860,487 4,266,754 4,927,575
Pension, profit-
sharing, stock bonus
and annuity plans 3,023,695 2,495,448 2,432,490
Employee benefit
programs 3,799,526 3,674,527 4,651,071
Net loss, noncapital
assets 263,177 472,361 412,059
Other deductions 71,415,511 60,517,908 61,704,030
Total receipts less total
deductions 11,737,577 10,197,137 11,157,048
Constructive taxable
income from related
foreign corporations 45,764 * 1,443 * 10
Net income (less
deficit), total 11,720,493 10,178,577 11,063,826
Net income, total 21,672,295 19,946,478 21,682,549
Deficit, total 9,951,801 9,767,901 10,618,722
Net income (less
deficit), Form 1120-A 14,356 59,978 —
Net income (less
deficit), Form 1120-F — — —
Net income (less
deficit), Form
1120S (4) 11,067,229 9,444,469 9,933,873
Statutory special
deductions, total (5) 1,844,869 1,943,418 1,750,994
Net operating loss
deduction 1,707,592 1,753,109 1,639,535
Dividends received
deduction 32,864 87,783 88,885
Public utility
dividends paid
deduction — — —
Income subject to tax (6) 3,679,241 4,410,270 5,552,577
Total income tax before
credits (7) 723,064 906,507 1,287,444
Income tax 717,987 904,916 1,279,395
Personal Holding
Company tax * 591 * 565 * 784
Recapture taxes (8) — — * 48
Alternative minimum tax 4,615 1,395 6,516
Foreign tax credit * 39,506 * 1,897 224
U.S. possessions tax
credit 41 1,701 357
Nonconventional source
fuel credit — * 141 —
General business credit 15,221 16,067 10,173
Prior-year minimum tax
credit * 614 3,895 7,465
Total income tax after
credits (10) 667,682 882,806 1,269,224
Size of total assets
$1,000,000 $5,000,000 $10,000,000
Item under under under
$5,000,000 $10,000,000 $25,000,000
(7) (8) (9)
Number of returns 357,966 55,339 34,953
Total assets 752,609,634 383,624,248 538,770,077
Cash 88,745,542 41,109,081 54,303,645
Notes and accounts
receivable 154,420,625 83,219,909 120,951,856
Less: Allowance for
bad debts 1,905,607 1,456,177 2,926,746
Inventories 130,752,949 76,297,820 91,762,091
Investment in U.S.
Government
obligations 3,227,077 2,524,542 7,881,943
Tax-exempt securities 1,664,210 1,770,600 4,015,791
Other current assets 44,354,400 23,292,773 31,076,824
Loans to stockholders 12,525,462 4,471,202 4,464,963
Mortgage and real
estate loans 7,101,841 3,605,114 5,441,955
Other investments 59,266,187 35,715,033 66,897,231
Depreciable assets 406,592,844 174,673,500 222,467,224
Less: Accumulated
depreciation 221,394,220 90,890,531 111,723,011
Depletable assets 1,679,610 1,228,056 2,527,624
Less: Accumulated
depletion 818,327 608,877 991,788
Land 41,443,574 14,918,886 16,919,748
Intangible assets 18,922,725 10,045,749 19,272,695
Less: Accumulated
amortization 6,355,184 3,189,353 5,221,962
Other assets 12,385,927 6,896,922 11,649,994
Total liabilities 752,609,634 383,624,248 538,770,077
Accounts payable 106,067,938 54,168,404 70,674,937
Mortgages, notes, and
bonds payable in less
than 1 year 94,083,911 61,658,829 77,786,459
Other current
liabilities 68,956,170 40,288,530 67,848,338
Loans from stockholders 57,197,879 17,019,019 16,993,069
Mortgages, notes, and
bonds payable in 1
year or more 168,677,175 74,046,103 99,041,240
Other liabilities 30,994,021 22,141,906 26,524,473
Net worth 226,632,539 114,301,456 179,901,562
Capital stock 54,306,751 29,320,223 45,600,331
Paid-in or capital
surplus 101,050,217 59,529,456 108,167,911
Retained earnings,
appropriated 2,152,549 591,805 1,214,665
Retained earnings,
unappropriated 85,654,638 31,567,052 33,635,651
Adjustment to share-
holders equity 361,953 -128,376 -523,325
Less: Cost of
treasury stock 16,893,569 6,578,703 8,193,669
Total receipts 1,559,618,844 778,160,966 932,980,831
Business receipts 1,526,157,458 760,387,853 907,679,286
Interest 3,942,390 2,342,298 4,459,979
Interest on State and
local Government
obligations 284,548 171,786 403,446
Rents 1,766,700 929,174 1,320,823
Royalties 341,236 256,609 479,881
Net short-term capital
gain less net long-
term capital loss 404,491 217,635 533,774
Net long-term capital
gain less net short-
term capital loss (2) 2,727,592 1,463,625 2,290,509
Net gain, noncapital
assets 2,492,535 1,144,564 1,396,572
Dividends, domestic
corporations 399,539 143,913 286,528
Dividends, foreign
corporations 37,450 44,976 110,230
Other receipts 20,964,903 11,058,532 13,989,803
Total deductions 1,529,827,653 764,726,112 917,666,757
Cost of goods sold 1,004,385,637 545,631,738 658,333,718
Compensation of
officers 60,554,541 18,405,400 17,335,428
Salaries and wages (3) 157,164,967 68,440,097 80,547,617
Repairs 10,338,857 4,043,945 4,257,481
Bad debts 4,186,573 1,864,598 3,018,672
Rent on business
property 36,247,436 12,738,591 15,048,376
Taxes paid 34,325,137 14,157,174 16,117,863
Interest paid 18,871,931 9,187,042 12,567,573
Contributions or gifts 308,881 130,905 182,460
Amortization 1,687,323 874,812 1,612,035
Depreciation 29,586,696 13,084,699 17,366,486
Depletion 147,789 136,134 243,455
Advertising 12,853,006 6,453,007 8,679,541
Pension, profit-
sharing, stock bonus
and annuity plans 6,137,427 2,445,337 2,727,655
Employee benefit
programs 13,876,052 6,580,142 8,233,844
Net loss, noncapital
assets 1,708,671 866,152 1,265,261
Other deductions 137,146,731 59,686,338 70,129,295
Total receipts less total
deductions 29,991,191 13,434,864 15,284,073
Constructive taxable
income from related
foreign corporations 10,597 17,953 67,902
Net income (less
deficit), total 29,717,239 13,281,021 14,948,529
Net income, total 59,884,511 28,572,089 36,426,522
Deficit, total 30,167,272 15,291,067 21,477,993
Net income (less
deficit), Form 1120-A — — —
Net income (less
deficit), Form 1120-F — — —
Net income (less
deficit), Form
1120S (4) 28,221,233 14,567,128 16,404,470
Statutory special
deductions, total (5) 4,303,281 1,728,995 3,186,394
Net operating loss
deduction 3,865,294 1,455,342 2,125,431
Dividends received
deduction 323,575 116,128 264,468
Public utility
dividends paid
deduction — — 6
Income subject to tax (6) 17,335,589 8,976,923 13,161,817
Total income tax before
credits (7) 5,254,634 3,044,176 4,546,120
Income tax 5,193,417 2,999,889 4,460,724
Personal Holding
Company tax 3,565 * 1,843 1,202
Recapture taxes (8) * 60 * 58 1,056
Alternative minimum tax 59,772 42,687 74,471
Foreign tax credit 23,855 27,759 47,762
U.S. possessions tax
credit 7,765 16,713 39,484
Nonconventional source
fuel credit * 258 587 3,584
General business credit 49,695 29,289 41,042
Prior-year minimum tax
credit 88,067 49,139 56,300
Total income tax after
credits (10) 5,084,993 2,920,689 4,357,949
Size of total assets
$25,000,000 $50,000,000 $100,000,000
Item under under under
$50,000,000 $100,000,000 $250,000,000
(10) (11) (12)
Number of returns 13,632 9,287 8,434
Total assets 479,299,666 660,246,580 1,334,487,915
Cash 41,536,361 47,087,064 72,266,729
Notes and accounts
receivable 113,772,343 158,329,194 297,251,204
Less: Allowance for
bad debts 3,169,719 4,056,568 6,848,715
Inventories 56,244,822 52,151,876 75,911,371
Investment in U.S.
Government
obligations 17,098,892 35,000,429 73,626,878
Tax-exempt securities 9,542,742 22,878,589 68,541,072
Other current assets 26,840,117 32,456,130 59,342,148
Loans to stockholders 2,536,854 2,136,267 3,177,163
Mortgage and real
estate loans 10,153,642 26,604,182 73,036,698
Other investments 80,555,766 140,189,237 360,407,841
Depreciable assets 160,924,778 172,121,748 266,852,781
Less: Accumulated
depreciation 77,116,475 80,072,494 116,655,499
Depletable assets 2,634,011 4,470,093 9,309,349
Less: Accumulated
depletion 1,088,140 1,996,500 4,653,894
Land 11,092,138 10,755,171 13,786,256
Intangible assets 22,163,360 35,031,440 71,111,186
Less: Accumulated
amortization 4,807,386 6,952,872 12,462,022
Other assets 10,385,560 14,113,593 30,487,369
Total liabilities 479,299,666 660,246,580 1,334,487,915
Accounts payable 52,812,271 60,803,623 99,564,215
Mortgages, notes, and
bonds payable in less
than 1 year 47,081,056 45,200,848 73,277,601
Other current
liabilities 90,856,033 159,808,616 342,673,536
Loans from stockholders 9,365,141 7,437,002 8,024,112
Mortgages, notes, and
bonds payable in 1
year or more 78,270,478 95,850,273 170,880,157
Other liabilities 26,026,730 26,037,479 49,646,085
Net worth 174,887,955 265,108,738 590,422,207
Capital stock 42,479,771 57,793,176 201,379,716
Paid-in or capital
surplus 116,609,683 197,470,417 430,952,595
Retained earnings,
appropriated 1,161,805 1,691,751 5,648,725
Retained earnings,
unappropriated 20,985,537 25,497,658 68,471,411
Adjustment to share-
holders equity -181,520 -683,915 -17,643
Less: Cost of
treasury stock 6,167,321 16,660,348 116,012,597
Total receipts 586,493,996 551,584,347 811,666,923
Business receipts 560,176,349 514,354,708 729,552,984
Interest 7,066,434 14,351,485 35,682,197
Interest on State and
local Government
obligations 697,321 1,545,068 4,391,877
Rents 1,143,050 1,618,207 2,542,016
Royalties 598,603 982,582 2,025,965
Net short-term capital
gain less net long-
term capital loss 746,826 1,729,189 4,384,165
Net long-term capital
gain less net short-
term capital loss (2) 2,313,999 2,823,922 4,984,918
Net gain, noncapital
assets 1,973,969 1,129,399 1,882,535
Dividends, domestic
corporations 250,811 343,906 607,450
Dividends, foreign
corporations 218,412 265,568 872,072
Other receipts 11,308,222 12,440,314 24,730,743
Total deductions 575,454,504 537,511,768 778,783,163
Cost of goods sold 390,335,738 347,121,942 491,324,510
Compensation of
officers 9,218,515 7,630,184 8,927,194
Salaries and wages (3) 54,739,839 54,008,199 78,137,941
Repairs 2,889,999 2,783,870 4,652,717
Bad debts 2,384,863 2,080,966 3,324,171
Rent on business
property 10,196,309 10,060,596 14,738,612
Taxes paid 10,295,739 10,046,594 15,087,568
Interest paid 10,931,970 15,105,718 29,612,011
Contributions or gifts 152,267 176,712 329,404
Amortization 1,715,782 2,267,909 4,171,540
Depreciation 12,839,190 14,108,787 22,316,634
Depletion 199,430 259,188 540,607
Advertising 6,590,221 6,986,156 9,681,403
Pension, profit-
sharing, stock bonus
and annuity plans 1,903,803 1,770,107 2,630,406
Employee benefit
programs 6,231,363 6,466,730 9,558,727
Net loss, noncapital
assets 690,802 919,485 1,514,232
Other deductions 54,138,675 55,718,626 82,235,487
Total receipts less total
deductions 11,039,492 14,072,579 32,873,760
Constructive taxable
income from related
foreign corporations 76,708 161,091 447,595
Net income (less
deficit), total 10,418,879 12,688,602 28,929,478
Net income, total 25,819,899 28,586,339 51,065,971
Deficit, total 15,401,020 15,897,737 22,136,492
Net income (less
deficit), Form 1120-A — — —
Net income (less
deficit), Form 1120-F — — —
Net income (less
deficit), Form
1120S (4) 8,853,431 6,434,910 5,823,891
Statutory special
deductions, total (5) 3,828,966 7,040,011 16,283,013
Net operating loss
deduction 2,034,122 2,337,599 3,885,185
Dividends received
deduction 277,445 403,845 757,876
Public utility
dividends paid
deduction 11 — 9
Income subject to tax (6) 11,509,197 13,861,048 27,701,099
Total income tax before
credits (7) 4,050,596 4,842,577 9,802,123
Income tax 3,972,709 4,744,911 9,577,757
Personal Holding
Company tax 533 555 16
Recapture taxes (8) 851 644 308
Alternative minimum tax 69,095 86,154 187,853
Foreign tax credit 54,386 115,764 355,062
U.S. possessions tax
credit 63,311 73,843 267,061
Nonconventional source
fuel credit 4,131 6,609 2,672
General business credit 47,318 53,522 129,602
Prior-year minimum tax
credit 58,007 69,122 117,820
Total income tax after
credits (10) 3,823,442 4,523,683 8,929,821
Size of total
assets
$250,000,000
Item or
more
(13)
Number of returns 10,380
Total assets 36,709,838,024
Cash 1,142,851,375
Notes and accounts
receivable 6,729,933,122
Less: Allowance for
bad debts 118,294,284
Inventories 634,982,950
Investment in U.S.
Government
obligations 1,199,806,263
Tax-exempt securities 847,924,751
Other current assets 2,393,064,495
Loans to stockholders 70,448,163
Mortgage and real
estate loans 2,422,419,025
Other investments 15,022,874,816
Depreciable assets 5,061,986,298
Less: Accumulated
depreciation 2,230,407,379
Depletable assets 159,652,617
Less: Accumulated
depletion 74,467,740
Land 145,001,928
Intangible assets 1,513,906,518
Less: Accumulated
amortization 231,413,678
Other assets 2,019,568,785
Total liabilities 36,709,838,024
Accounts payable 2,273,541,707
Mortgages, notes, and
bonds payable in less
than 1 year 3,198,921,924
Other current
liabilities 8,271,856,251
Loans from stockholders 159,102,279
Mortgages, notes, and
bonds payable in 1
year or more 4,612,203,739
Other liabilities 4,497,885,744
Net worth 13,696,326,381
Capital stock 3,022,945,463
Paid-in or capital
surplus 9,086,595,358
Retained earnings,
appropriated 195,532,788
Retained earnings,
unappropriated 3,497,401,086
Adjustment to share-
holders equity 18,828,985
Less: Cost of
treasury stock 2,124,977,299
Total receipts 11,222,106,280
Business receipts 9,022,248,118
Interest 1,155,404,842
Interest on State and
local Government
obligations 43,474,357
Rents 103,851,862
Royalties 99,439,071
Net short-term capital
gain less net long-
term capital loss 84,908,155
Net long-term capital
gain less net short-
term capital loss (2) 118,723,719
Net gain, noncapital
assets 47,642,143
Dividends, domestic
corporations 18,030,577
Dividends, foreign
corporations 61,337,440
Other receipts 467,045,995
Total deductions 10,474,730,666
Cost of goods sold 5,715,181,465
Compensation of
officers 58,485,591
Salaries and wages (3) 982,930,670
Repairs 80,540,753
Bad debts 75,966,513
Rent on business
property 161,350,659
Taxes paid 201,178,657
Interest paid 840,710,150
Contributions or gifts 8,951,290
Amortization 69,355,459
Depreciation 424,440,955
Depletion 7,857,850
Advertising 141,186,537
Pension, profit-
sharing, stock bonus
and annuity plans 44,509,897
Employee benefit
programs 131,957,650
Net loss, noncapital
assets 16,740,081
Other deductions 1,513,386,489
Total receipts less total
deductions 747,375,614
Constructive taxable
income from related
foreign corporations 54,023,623
Net income (less
deficit), total 757,924,880
Net income, total 869,176,455
Deficit, total 111,251,575
Net income (less
deficit), Form 1120-A —
Net income (less
deficit), Form 1120-F —
Net income (less
deficit), Form
1120S (4) 5,286,675
Statutory special
deductions, total (5) 304,882,602
Net operating loss
deduction 38,238,360
Dividends received
deduction 27,982,045
Public utility
dividends paid
deduction 25,392
Income subject to tax (6) 563,559,350
Total income tax before
credits (7) 199,490,347
Income tax 197,060,395
Personal Holding
Company tax 640
Recapture taxes (8) 6,812
Alternative minimum tax 2,392,947
Foreign tax credit 36,332,115
U.S. possessions tax
credit 980,232
Nonconventional source
fuel credit 855,085
General business credit 4,279,279
Prior-year minimum tax
credit 2,950,908
Total income tax after
credits (10) 154,089,486
* Estimate should be used with caution because of the small number of
sample returns on which it was based.
(1) Zero assets class includes returns of liquidating or dissolving
corporations that had disposed of all assets, final returns of merging
companies whose assets were included in the returns of the acquiring
corporations, part-year returns (except those of newly-incorporated
businesses), and returns of foreign corporations with income
“effectively connected” with a U.S. trade or business (except foreign
insurance companies providing separate data for U.S. branches, assets
for which are included in the appropriate size class).
(2) For purposes of the statistics, gains from regulated investment
companies and S corporations are excluded.
(3) Prior to the publication of the Source Book of Statistics of
Income–1994, Corporation Income Tax Returns, data for “salaries and
wages” were included in the totals for “other deductions.” The figure
shown here excludes amounts in the cost of goods sold as well as
amounts in certain other deductions.
(4) Net Income of “S corporations” is distributed (with few
exceptions) through their shareholders and is taxed as the
shareholders’ income. This income is not a part of the corporation’s
income subject to tax.
(5) Also includes deductions for dividends paid by regulated
investment companies and real estate investment trusts. These
deductions are not shown separately.
(6) See Footnote 4. Also excludes net long-term capital gain reduced
by net short-term capital loss of regulated investment companies.
(7) For purposes of the statistics, the Personal Holding Company tax,
recapture taxes, and the alternative minimum tax, plus certain others
not shown, are included in total income tax before and after credits.
By law, tax credits could only offset income tax.
(8) The amount shown for “Recapture taxes” includes recapture taxes of
investment, low-income housing, qualified electric vehicle, and Indian
employment credits.
(9) Amount is less than $500.
(10) Amount for total income tax after credits includes certain other
credits not shown separately.
NOTE: Detail may not add to totals due to rounding.
Figure A
Corporate Pre-Tax Profits by Industrial Division, Tax Years 1998-1999
[Money amounts are in thousands of dollars]Pre-tax profits (1),(2)
Industrial division 1998 1999
(1) (2)
All industries (3) 838,223,591 928,955,528
Raw materials and energy production 33,129,560 40,271,259
Goods production 274,409,460 279,935,929
Distribution and transportation of goods 102,764,227 102,380,385
Information 32,662,060 39,705,442
Finance, insurance, real estate, and rental
and leasing 294,051,141 367,153,832
Professional and business services 82,205,220 78,555,746
Education, health, and social assistance 4,975,820 5,636,491
Leisure, accommodation, and food services 9,759,481 10,888,009
Other services 4,591,932 4,317,819
Pre-tax profits (1),(2)
Increase Percentage
Industrial division over increase
1998 over 1998
(3) (4)
All industries (3) 90,731,937 10.8
Raw materials and energy production 7,141,699 21.6
Goods production 5,526,469 2.0
Distribution and transportation of goods -383,842 -0.4
Information 7,043,382 21.6
Finance, insurance, real estate, and rental
and leasing 73,102,691 24.9
Professional and business services -3,649,474 -4.4
Education, health, and social assistance 660,671 13.3
Leisure, accommodation, and food services 1,128,528 11.6
Other services -274,113 -6.0
(1) Pre-tax profits are net income (less deficit) in the statistics.
(2) Excludes net long-term capital gain reduced by net short-term
capital loss of regulated investment companies and investment income,
including capital gains of S corporations (qualifying corporations
electing to be taxed through their shareholders).
(3) Includes corporations not allocable by industrial division,
not shown separately.
NOTE: Detail may not add to totals because of rounding.
Figure B
Corporate Pre-Tax Profits, Tax Years 1991-1999 (1)
Billions of dollars
Total excluding S
corporations, regulated
Tax year Total (2) investment companies,
and real estate
investment trusts
1991 344.9 248.1
1992 402.0 291.9
1993 498.2 368.9
1994 577.3 426.1
1995 714.2 514.8
1996 806.5 574.6
1997 915.4 607.5
1998 838.2 532.2
1999 929.0 535.3
(1) Pre-tax profits are net income (less deficit) in the statistics.
(2) Excludes net long-term capital gain reduced by net short-term
capital loss of regulated investment companies and investment income,
including capital gains of S corporations (qualifying corporations
electing to be taxed through their shareholders).
Note: Table made from bar graph.
Figure C
Statutory Special Deductions, Income Subject to Tax, and Selected Tax
and Tax Credit Items, Tax Years 1998-1999
[Money amounts are in thousands of dollars]Item 1998 1999 Percentage
increase
(1) (2) (3)
Statutory special deductions,
total 261,305,651 356,489,336 36.4
Net operating loss deduction 52,678,450 64,928,288 23.3
Dividends received deduction 23,951,279 30,766,776 28.5
Public utility dividends
paid deduction 37,798 25,671 -32.1
Deduction for dividends paid
by regulated investment
companies and real estate
investment trusts 184,261,445 260,091,648 41.2
Income subject to tax (1) 663,385,528 693,735,694 4.6
Total income tax before
credits (2) 231,399,671 241,987,588 4.6
Income tax 228,021,519 238,722,344 4.7
Personal Holding Company tax
(3) 12,937 11,449 -11.5
Tax from recapture of
investment and low-income
housing credits (3) 3,938 9,837 149.8
Alternative minimum tax (3) 3,324,799 3,051,869 -8.2
Tax credits, total (4) 49,854,525 48,959,947 -1.8
Foreign tax credit 37,396,469 38,389,989 2.7
U.S. possessions tax credit 2,393,331 1,485,261 -37.9
Nonconventional source fuel
credit 1,029,728 886,835 -13.9
General business credit 5,601,399 4,763,022 -15.0
Prior-year minimum tax
credit 3,432,896 3,431,478 —
Total Income tax after credits 181,545,146 193,027,641 6.3
(1) Net income of “S corporations” is distributed (with few exceptions)
through their shareholders and is taxed as the shareholders’ income.
This income is not a part of the corporation’s income subject to tax.
Also excludes net long-term capital gain reduced by net short-term
capital loss of regulated investment companies.
(2) Includes certain other taxes, not shown separately.
(3) For purposes of the statistics, this tax is included in both total
income tax before credits and total income tax after credits. By law,
tax credits could offset only income tax.
(4) Includes certain other credits, not shown separately.
NOTE: Detail may not add to totals because of rounding.
Figure D
Coefficients of Variation for Total Assets, Business Receipts, Total
Income Tax Before Credits and Total Income Tax After Credits, by
Industrial Division and NAICS Sector, Tax Year 1999
Total Total
Industrial Total Business income tax income tax
division and sector assets receipts before after
credits credits
(1) (2) (3) (4)
All Industries (1) 0.05 0.14 0.08 0.09
Raw materials and energy
production 0.13 0.56 0.19 0.21
Agriculture, forestry,
fishing, and hunting 0.95 3.13 2.87 3.16
Mining 0.26 1.25 0.72 0.99
Utilities 0.15 0.28 0.16 0.17
Goods production 0.11 0.19 0.13 0.16
Construction 0.40 0.91 1.31 1.34
Manufacturing 0.12 0.15 0.12 0.15
Distribution and trans-
portation of goods 0.12 0.31 0.25 0.27
Wholesale and retail
trade 0.14 0.33 0.27 0.29
Transportation and
warehousing 0.29 0.99 0.64 0.73
Information 0.16 0.50 0.23 0.24
Finance, insurance, real
estate, and rental
and leasing 0.08 0.22 0.17 0.18
Finance and insurance 0.08 0.19 0.14 0.14
Real estate and rental
and leasing 0.37 1.87 1.78 1.87
Professional and business
services 0.20 0.82 0.25 0.28
Professional, scien-
tific, and technical
services 0.42 1.57 1.12 1.29
Management of companies
(holding companies) 0.22 0.18 0.16 0.17
Administrative and
support and waste
management and reme-
diation services 0.59 2.38 1.51 1.96
Education, health, and
social assistance 0.50 2.15 1.48 1.51
Educational services 3.23 10.17 5.91 5.87
Health care and social
assistance 0.49 2.20 1.51 1.55
Leisure, accommodation,
and food services 0.35 1.08 0.83 1.01
Arts, entertaintment,
and recreation 0.99 3.72 4.48 4.86
Accommodations and food
services 0.36 1.03 0.64 0.75
Other services 1.29 2.34 3.37 3.50
(1) Includes returns not allocable by industrial division, which are
not shown separately.
NOTE: NAICS is the abbreviation for the North American Industry
Classification System.
Footnotes
[1] Numbers used in this article are from Statistics of Income–1998, Corporation Income Tax Returns, and Statistics of Income–1999, Corporation Income Tax Returns (in preparation at the time this article was written).
[2] Starting with Tax Year 1987, Statistics of Income (SOI) corporate statistics for “net income (less deficit)” (pre-tax profits) and for receipts and deductions of S corporations are limited to those derived “from a trade or business.” Investment or portfolio income (or loss), such as from interest, dividends, rents, royalties, and gain (loss) from sales of investment property, and the deductions related to this income are not included in the SOI corporate statistics. Therefore, the overall statistics for receipts, deductions, and net income or deficit are slightly understated; it is estimated that, for 1999, total net income (less deficit) alone is understated by $56.4 billion as a result (see Bennett, Kelly, “S Corporation Returns, 1999,” Statistics of Income Bulletin, Spring 2002, Volume 21, Number 4).
Net income (or deficit) and receipts also exclude regulated investment company net long-term capital gain (reduced by net short-term capital losses), which were not tabulated. If included, these gains would have totaled $192.6 billion for 1998 and $252.3 billion for 1999. Including regulated investment company capital gain and S corporation investment income less deductions in the computation of overall pre-tax profits would have increased corporate pre-tax profits for 1999 by 13.8 percent, from $1,087.8 billion to $1,237.6 billion.
[3] The primary business activity of returns is based on the business activity that produces the largest percentage of total receipts.
[4] The Mutual Fund Fact Book, The Investment Company Institute, 2000. See online at http:// www.ici.org/facts_figures/factbook00_toc.html.
[5] The spot market price for natural gas was 60-percent higher in October 1999 than in October 1998. See the Executive Summary of “Natural Gas Supply Infrastructure and Pricing,” online at http://www.eia.doe.gov/oil_gas/natural_gas/ analysis_publications/nat_analysis_publications.html.
[6] Economic Report of the President, 2000, p. 54. See online at http://www.access.gpo.gov/ usbudget/fy2001/pdf/2000_erp.pdf.
[7] Several adjustments are required to compute income subject to tax from net income, or pre-tax profits. The statistics for statutory special deductions include the unused portions of deductions reported by corporations that had no positive income subject to tax, either because they had no positive net income or because their deductions were sufficient to completely offset their net income. In addition, the relationship between net income and income subject to tax was defined differently for life insurance businesses and real estate investment trusts. Therefore, the net income shown in the statistics (which also includes the net income of S corporations, regulated investment companies, and real estate investment trusts, which do not bear entity level income taxes), minus statutory special deductions will not yield the statistics shown for income subject to tax.
[8] For 1999, statutory special deductions include the following: net operating loss deduction (NOLD); the various dividends received deductions; the deductions for dividends paid on certain preferred stock of public utilities; the deduction for dividends paid by regulated investment companies and real estate investment trusts; the special deduction for taxes paid by real estate investment trusts allowed under Internal Revenue Code section 857; and the special deduction allowed for small life insurance companies.
[9] Statistics of Income, Corporation Income Tax Returns, for 1993-1999 (the 1999 report was in preparation at the time this article was written).
[10] The credit for incremental research expenses (computed on the Form 6765) that could otherwise be claimed for the period July 1, 1999, through September 30, 2000, could not be claimed before October 1, 2000. For further details, see IRS Cumulative Bulletin, Notice 2001-2, December 6, 2000.
[11] The purpose of combining these credits into the general business credit was to provide a single combined limitation on the component credits and to establish uniform rules for the unused amounts in excess of this limitation for the carryback and carryforward of “unused” amounts to other years. However, each of the current year’s components of the general business credit was computed separately (since the limitation applied to the total, the sum of the current year’s components is generally larger than the actual credit claimed). Because the empowerment zone employment (EZE) credit can offset 25 percent of the alternative minimum tax liability, the limitation varies from the other general business credits. The empowerment zone employment credit was computed separately after the general business credit was calculated. The amount of the EZE credit was then added to the general business credit, and the combined amount was taken against the income tax (it is this combined amount that is reported as the general business credit in Figure C).
[12] Size of total receipts was used in lieu of business receipts to classify certain financial industries. For details, see Statistics of Income–1999, Corporation Income Tax Returns (in preparation at the time this article was written).
Patrice Treubert is an economist with the Corporation Returns Analysis Section. William P. Jauquet provided technical assistance. This article was prepared under the direction of Marty Shiley, Chief.
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