Corporation income tax returns, 1999

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 in

thousands 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 in

thousands 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.

COPYRIGHT 2002 U.S. Government Printing Office

COPYRIGHT 2004 Gale Group