United States yearbook - 1982 (1)

Corporation Income Tax Returns 261
N o . 4 4 2 . C o r p o r a t i o n In c o m e T a x R e t u r n s — S u m m a r y : i 9 6 0 t o 1 9 7 9
[Estimates based on samples; see Appendix III, All data based on returns for periods ending between July 1 of year shown and
June 30 of following year, as filed. All corporations are required to file returns except those specifically exempt, such as
fraternal, civic, and charitable organizations not operating for profit. See source for changes in law affecting comparability of
historical data. Corporate data based on income tax returns appear in Section 18. See also H is to ric a l S ta tis tic s , C o lo n ia l T im e s
t o 1 9 7 0 , series Y 381-392]
ITEM Unit I960 1965 1970 1973 1974 1975 1976 1977 1976 1979
1,000......... 1,186 1,490 1,747 1,961 2,043 2,470 2,632
Active corporations.................................... 1,000......... 1,141 1,424 1,665 1,905 1,966 2,024 2,082 2.242 2,377 2,557
With net income... 1,000......... 670 915 1,008 1,203 1,207 1,226 1,274 1,425 1,524 1,586
Without net income 1,000......... 470 509 657 702 759 797 809 817 853 971
Inactive corporations 1,000......... 47 66 82 76 77 76 77 87 93 75
Total receipts 1........... Bll. dol....... 849 1,195 1,751 2,558 3,090 3,199 3,635 4,128 4,715 5,599
Total deductions......... Bil. dol....... 805 1,120 1,683 2,435 2,942 3,053 3,449 3,909 4,467 5,316
Net income........... ......................................... Bil. dol....... 50 81 84 138 171 169 210 245 275 322
Net income less deficil3 Bil. dol....... 44 74 66 120 146 143 185 219 247 285
Income subject lo tax. Bil. dol....... 42 71 72 116 144 3147 183 213 240 279
Income tax, total........ Bil. dol....... 23 32 33 52 66 66 63 96 108 120
Foreign tax credit........ Bil. dol....... 1 3 5 10 21 20 24 26 26 37
Investment credit......... Bil. dol....... (X) 2 1 4 4 6 9 11 13 15
Tax after credits4........ Bll. dol....... 22 27 28 39 41 40 50 57 64 66
X Not applicable. 1 Consists of business receipts, taxable and nontaxable interest, rents, royalties, net gain from capital
assets (as defined by law) and other property, dividends, and other taxable income. Includes nontaxable interest. *Net income
(less deficit) is a tax concept and therefore excludes wholly tax-exempt Interest; beginning 1965, includes constructive taxable
income from related foreign corporations. 'See footnote 4, table 443. 'Tax liability is after deduction for foreign tax credit.
Beginning 1965, data are after investment credit; beginning 1973, after work incentive (WIN) credit; beginning 1976, after U.S.
possessions tax credit; and beginning 1977, after jobs credit Beginning 1965, includes tax from recomputing prior year investment
credit; 1970 Includes tax surcharge; 1970-1975, includes additional tax for tax preferences; beginning 1973, includes tax from
recomputing prior-year work Incentive (WIN) credit; and beginning 1976 includes tax credit for outlying areas.
N o . 4 4 3 . C o r p o r a t i o n I n c o m e T a x R e t u r n s — S e l e c t e d It e m s , b y A s s e t - S i z e C l a s s :
1 9 7 0 t o 1 9 7 9
[See headnote, table 442. See also H is to ric a l S ta tis tic s , C o lo n is t T im a s to 1 9 7 0 , series V 108, 129,136,137, and 182-196)
ASSET SIZE CUSS
Number
of
re tu rn s 1
(1,000)
Total
receipts
(bll. dol.)
Income
subject
to tax
(bil. dol.)
TAX a (bit. dol.)
Before
credits
After
credits
PERCENT DISTRIBUTION
Number
of
returns Receipts Tax
after
credits
1970: Total......................................................... 1,665 1,750.7 72.4 33.3 27.9 100.0 100.0 100.0
Under $500,000 3............................................ 1,467 321.8 7.7 2.4 2.3 88.1 18.4 8.2
$500,000-6999,999.......................................... 93 117.8 3,0 1.2 1.2 5.6 6.7 4.3
$1,000,000-$4,999,099................................... 74 214.2 7.0 3.2 3.1 4.4 12.2 11.1
$5,000,000-59,999,999................................... 13 77.8 2.9 1.4 1.4 .8 4.4 5.0
$10,000,000-549,999,999............................... 14 158.6 6.7 3.2 3.0 .8 9.1 10.8
$50,000,000-599,999,999............................... 2 73.4 3.1 1.5 1.4 .1 4.2 5.0
$100,000,000 and over................................... 3 787.2 42,0 20.5 15.4 .2 45.0 55.2
1975: Total................ 2,024 3,198.6 * 146,6 66.1 39.7 100.0 100.0 100.0
Under $500,000 *.... 1,760 434,1 10.1 2.6 2.3 07.0 13.6 5.8
$500,000-5999,999. 123 181.9 4.7 1.6 1.5 6.1 5.7 3.6
$1,000,000-54.999,999................................... 101 384.7 12.0 5.1 4.7 5.0 12.0 11.8
$5,000.000-$9,999,999................................... 16 131.9 5.1 2.3 2.2 .7 4.1 5.6
$10,000,000-549,999,999 18 261.9 11.B 5.5 5.0 .9 8.8 12.6
$50,000,000-399,999 999 3 140,5 5.4 2.6 2.2 .1 4.4 5.6
$100,000,000 and over................................... 4 1,643,6 97.3 46.4 21.8 .2 51.4 54.2
1978: Total......................................................... 2,377 4,714.6 239.6 107.9 64.4 100.0 100.0 100.0
Under $500,ooo3.... ........................................ 2,022 575.2 15.7 4.1 2.6 85.1 12.2 3.9
$500,000-5999,999. 161 253.2 7.2 2.4 1.7 6.8 5.4 2.6
$1,000,000-S4,999,999................................... 143 606.4 18.8 7.9 6.1 6.0 12.9 9.5
$5,000.000-59,999,999................................... 20 225.4 8.3 3.8 3.1 .8 4.8 4.8
$ 10,000,000-549,999,999............................... 22 397.4 18.1 8.3 6.8 .9 8.4 10.6
$50,000,000-599,999,999............................... 4 185.3 8.4 4.0 3.3 .2 3.9 5.1
$100,000,000 and over 5 2.471.6 163.2 77.4 41.0 .2 52.4 63.7
1979: Total................ 2,557 5,598.7 279.4 120.0 65.9 100.0 100.0 100.0
Under $500,0003.... 2,164 661.8 17.1 4.0 2.6 84.6 11.8 4.2
$500,000-5999.999. 178 282.0 7.8 2.3 1.8 7.0 5.0 2.7
$1,000,000-54,999,999 160 701.5 20.9 8.1 6.7 6.3 12.5 10.2
$5.000.000-$9,gg9,999 21 244.9 8.5 3.6 3.1 .8 4.4 4.7
$10,000,000-549,999 999 22 455.1 19.2 8.5 7.1 .9 8.1 10.8
$50,000,000-$99.999 999 4 211.2 9.0 4.0 3.4 .2 3.8 5.2
$100,000,000 and over.................................. 6 3,042.2 196.8 89.3 41.0 .2 54.3 62.2
'Active corporations. 'Before (after) deduction of foreign tax credit, investment credit; beginning 1975, work incentive (WIN)
credit Includes tax from recomputing prior-year investment credit and, beginning 1970, additional tax for tax preferences. Beginning
1975, includes tax from recomputing prior year work Incentive (WIN) credit. 'Includes corporations with zero assets.
* Excludes tax preference items upon which additional tax for tax preferences is based.
S o u rc e o f tables 442 and 443. U.S. Internal Revenue Service, S ta tis tic s o f Incom e, C o rpo ra tio n Inco m e T ax R e tu rn s , annual.