soi bulletin - Internal Revenue Service - Department of the Treasury

Individual Income Tax Returns, Preliminary Data, 1993Figure AAdjusted Gr6sr;*Income, Taxiable Income, and . Tota I Income T . ax, Tdx.Yearii 19.92 and 1993fNumber of returns is in thousands--money amounts are in millions of dollarsl1992 (preliminary) 1993 (preliminary)PercentageItem Number Number ncreaseof Amount of mount n amountreturnsreturns(1) (2) (3) 4) 5)Adjusted gross income (less deficit) ....... 113,752 3,639;546 14,627 ,724,134 .3Taxable income....... : ...............................0,907 ,396,902 0,886 ,450,346 2Total in"come tax. .................................. 6,897 75,964 6,476 01,177 3Aftemative'minim6m tax ..................... 273 1,138 23 ,751 3.9Figure BNumber of Returns, Adjusted Gro - ss Income, and Total'income.Tax, b~ Size of Adjusted Gross Income,Tax Ybars 1992 and 1993[Number of returns is in ihousands-mohe~ amounts are in millions of dollars]Tax year,.Income'--'and taxTax Year 1993 (prelitinfinary):Number of retums .................-Adjusted.grossincome.---(less deficit) ......................Total income tax ...................Tax as a percentageof adjusted gross income(less deficit) ......................tax Year 1992 (preliminary):Number of returns .......... _.t...Adjusted gross incofn ,e(loss deficit) ......................Total income tax ...................Tax as a percentageof adjusted gross income(less deficit) ......................Change in percentage points,tax as a percentage of adjustedgross income'l[lessdeficit), 1993 over 1992... ....Total0)114,6273,724,134501,17713.51113,752,3,639,546475,96413.10AIncludes returns With adjusted gross deficit2Percentage not computed.3Difference not computed.NOTE: Detail may riot add to totals because of rounding.Under$11(2)900-39,94132(2):937-38,69454(3)$1under$10,000(3)29,630148,127217941.929,879150,6123,0132.0-0.1$10,000. under$20,00014A24,829365,64717,8694.9'24,807365,927,18,7705.1-0.2$20,000'under -.$30,000L5117,248424,93436,0268.217,175423;12435,415...8.4-0.2 1, Size of adjusted gross income$30,000under','$50,000_(6121,445834,63786,84210.421,37T,833,36287,491-10.5-0.1$50,000under$100,000L7)16,4921,102,423145,60513.2158141.054,487'.140,41313.3-0.1$100,000under-$200.0obM3,104407,39375,W1367,86367,50318.40.1$200,000under$500.006,119)f4225,07657,85525.7746218.41952,29023.91.8$500,000under$1,000,000Mo14093,46728,31630.3141,95,31324,904,26.14.2$11.000,000ormore0 1)66162,37251,46631.767.169,735.46,11327.24.510marginal tax rates, the increase in the first AMT rate, andthe introduction of a second alternative minimum ' tax ratefor 190. The lower average tax rates in the six lowestAGI size classes (Figures B and Q were mainly the resultof the inflation indexing of the size of the standard deductioln,size of the deduction for personal exemptions, andthe-width of the tax rate brackets. The inflation indexingcaused each of these items to increase by about 3.0 percent,while the aggregate income for returns with AGIunder $ 100,000 grew at a rate of 1.2 percent.Selected Soumes of IncomeThe largest component of AGL salaries and wages, grewby $77.8 billion, or. 2.8 percent for 1993 (Figure D).Business or profession net income (less loss) rose 2.4percent, after increasing 8.7 percent for 1992. Bo I t . h.,salaries and wages and business or profession net income(less loss) grew by less than the 3.0'percent rate ofinflatiori for 1993.' The growth rates of these two itemswere also notably less than the 5.4 percent growth rate forthe Gross Domestic Product [4].