(navigation image)
Home American Libraries | Canadian Libraries | Universal Library | Community Texts | Project Gutenberg | Children's Library | Biodiversity Heritage Library | Additional Collections
Search: Advanced Search
Anonymous User (login or join us)
Upload
See other formats

Full text of "Statistics of income : compiled from the returns for ..."

-r-vn 




^ 



Given By 
U. S. SUPT. OP ©OeUMENTS 



3^ 



STATISTICS OF INCOME 
FOR 1937 

PART 1 

COMPILED FROM INDIVIDUAL INCOME TAX RETURNS. FIDUCIARY 
INCOME TAX RETURNS. ESTATE TAX RETURNS. 
AND GIFT TAX RETURNS 

UNITED STATES TREASURY DEPARTMENT 
BUREAU OF INTERNAL REVENUE - WASHINGTON. D. C. 



U. S. TREASURY DEPARTMENT 

BUREAU OF INTERNAL REVENUE 



STATISTICS OF INCOME 
FOR 1937 



PART 1 

COMPILED FROM INDIVIDUAL INCOME TAX RETURNS, 

FIDUCIARY INCOME TAX RETURNS, ESTATE TAX 

RETURNS, AND GIFT TAX RETURNS 



PREPARED UNDER DIRECTION OF THE 

COMMISSIONER OF INTERNAL REVENUE 

BY THE 

STATISTICAL SECTION, INCOME TAX UNIT 




UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON : 1940 



For sale by the Superintendent of Documents. Washington. D. C. 



U. S. SUPERINTENDENT OF DOCUMENTS 

940 



CONTENTS 



Page 
Official transmittal 1-112 

INDIVIDUAL INCOME TAX RETURNS AND FIDUCIARY INCOME TAX 

RETURNS 

Returns tabulated 1-3 

Tax liability and collections 3-4 

Comparability with previous reports 4 

Geographic distribution 5 

Definitions of net income and deficit 5 

Net income and deficit classes 5-6 

Number of returns, net income and tax 6-7 

INDIVIDUAL INCOME TAX RETURNS (INCLUDING TAXABLE FIDUCIARY 
INCOME TAX RETURNS) 

Simple and cumulative distribution by net income classes of number of 

returns, net income and tax 7-8 

Classification by sex and family relationship 9 

Personal exemption and credits against net income 10 

Capital gains and losses 10-1 1 

Sources of income and deductions 11-16 

Amounts and percentages 12 

Number of returns showing each source of income and deduction and 
amount of each source of income and deduction, by net income 

classes 13-15 

Percentage distribution, by net income classes 15-16 

Frequency distribution of selected sources of income and loss by net income 

classes and by size of each source of income and loss 1 6-26 

INDIVIDUAL INCOME TAX RETURNS (NOT INCLUDING FIDUCIARY 
INCOME TAX RETURNS) 

Profit and loss from business, by industrial groups, Form 1040, with net 

income of $5,000 and over 26-29 

Returns, Form 1040, with no net income 26 

By deficit classes 30 

Sources of income and deductions, amounts 30 

Number of returns by counties, cities, and towns (reference to separate 

bulletin) 31 

FIDUCIARY INCOME TAX RETURNS 

General explanations 31-32 

WHOLLY AND PARTIALLY TAX-EXEMPT GOVERNMENT OBLIGATIONS- 
AMOUNT OWNED AND INTEREST RECEIVED 

Individual income tax returns, including taxable fiduciary income tax 

returns with net income of $5,000 and over 32-33 

Fiduciary income tax returns with balance income of $5,000 and over 33-34 

PARTNERSHIP RETURNS OF INCOME 

Number by years, 1917-1937 34 

111 



IV CONTEXTS 

HISTORICAL SUMMARIES-INDIVIDUAL INCOME TAX RETURNS WITH 
NET INCOME, 1913-1937 (INCLUDING TAXABLE FIDUCIARY INCOME TAX 
RETURNS, 1937) 

Page 

Number of returns, net income, tax before credits, tax credits and tax, 

1913-1937 34-3rt 

Number of returns, by net income classes, 1914-1937 36-37 

Net income, by net income classes, 1916-1937 38-39 

Tax, by net income classes, 1916-1937 39-40 

Effective tax rate (percent), by net income classes, 1916-1937 40-41 

Sources of income and deductions and net income, 1916-1937 41-47 

All returns 41-43 

Returns with net income of $5,000 and over 44-47 

ESTATE TAX RETURNS 

General explanations 48-51 

Table 1. Taxable and nontaxable returns, by Revenue Acts under which 
returns were filed: number of returns, gross estate by form of property, 

deductions, net estate and tax 52-53 

Taxable returns showing number of returns, gross estate by form of prop- 
erty, deductions, net estate and tax: 
Table 2. Returns filed under all Revenue Acts (summary of tables 2-A, 

2-B, and 2-C), bv net estate (before specific exemption) classes 54-61 

Table 2-A. Returns filed under Revenue Acts of 1926 and 1935 
(as amended by Acts of 1936 and 1938), by net estate (before 

specific exemption) classes 62-71 

Table 2-B. Returns filed under Revenue Acts of 1926 and 1934, 

by net estate (before specific exemption) classes 72-73 

Table 2-C. Returns filed under Revenue Acts of 1926 and 1932, 
by net estate (before specific exemption) classes, and for returns 
filed under Act of 1926 only, and under Act of 1924 or prior 

Acts ^ 74-75 

Taxable returns showing number of returns, gross estate bj^ form of prop- 
erty, deductions, net estate and tax: 

Table 3. Returns filed under all Revenue Acts (summary of tables 3-A, 

3-B, and 3-C), bv gross estate classes 76-79 

Table 3-A. Returns filed under Revenue Acts of 1926 and 1935 

(as amended by Acts of 1936 and 1938), by gross estate classes. 80-83 
Table 3-B. Returns filed under Revenue Acts of 1926 and 1934, 

bv gross estate classes 84-85 

Table 3-C. Returns filed under Revenue Acts of 1926 and 1932, 
by gross estate classes, and for returns filed under Act of 1926 

only, and under Act of 1924 or prior Acts 86-87 

Nontaxable returns showing number of returns, gross estate by form of 
property, deductions, net or no net estate before specific exemption: 
Table 4. Returns filed under all Revenue Acts (summary of tables 

4-A, 4-B, and 4-C), bv gross estate classes 88-89 

Table 4-A. Returns" filed under Revenue Acts of 1926 and 1935 

(as amended by Acts of 1936 and 1938), by gro.ss estate classes. 90-91 
Table 4-B. Returns filed under Revenue Acts of 1926 and 1934, 

bv gross estate classes 92-93 

Table 4-C. Returns filed under Revenue Acts of 1926 and 1932, 
by gross estate classes, and for returns filed under Act of 1926 

only, and under Act of 1924 or prior Acts 94-95 

Table 5. Taxable and nontaxable estate tax retunxs by States and Terri- 
tories showing total number of returns and number of nontaxable returns; 
for all taxable returns, number of returns, gross estate, net estate and 
total tax; and for taxable returns subject to the 1926 Act, number of 
returns, net estate under the 1926 Act, tax under the 1926 Act before 
credits, credits against tax, and tax under the 1926 Act after tax credits. _ 96-97 
Table 6. Taxable and nontaxable estate tax returns showing value of real 

estate by State in which return is filed and by situs of real estate 98-104 

Table 7. Historical summary of estate tax returns of resident and non- 
resident decedents filed Septeml)er 9, 1916, through Deceml)er 31, 1938, 
showing number of returns, gross and net taxable estate, and tax 105 



CONTENTS V 

GIFT TAX RETURNS 

Pag« 
General explajiations 106-108 

Total gifts, amount by trust, and all other gifts, 1937, by form of 

property 107 

Total number of returns, number of taxable and nontaxable returns, 

total gifts, net gifts and tax, 1932-1937 107 

Number of returns, net gifts and tax, for identical donors, for 1937 

and one or more prior years 108 

Table 1. Gift tax returns, 1937, by net gift classes: number of returns, 
total gifts by form of property, exclusions, total gifts after exclusions, 

deductions, net gifts and tax 108-109 

Table 2. Gift tax returns, 1937, by total gift classes and by taxable and 
nontaxable returns: number of returns, total gifts before exclusions, 
exclusions, total gifts after exclusions, deductions, net gifts and tax__ 110-111 

HISTORICAL DATA IN SOURCE BOOK 

Statement of contents of Source Book 112 

Method of securing data 112 

basic tables 

Individual income tax returns with net income (including taxable 
fiduciary income tax returns): 
United States in aggregate (1-7): 

1. By States and Territories 115-116 

2. By net income classes 117-118 

3. Simple and cumulative distribution, by net income classes.- 119-121 

4. Sex and family relationship, by States and Territories 122-124 

5. Sex and family relationship, by net income classes 125-129 

6. Sources of income and deductions, and net income by States 

and Territories 130-132 

7. Sources of income and deductions, and net income; also total 

number of returns and number of returns showing each 
specific source of income and deduction, by net income 

classes 133-137 

States and Territories separately (9) : 

9. By net income classes with historical summary, 1927-1937- 144-168 
Individual income tax returns (not including fiduciary income tax 

RETURNS): 

8. Profit and loss from business (sole proprietorship), returns with 
net income of $5,000 and over, by size of profit and loss and by 
industrial groups: number of businesses with profit or loss 
and amount of profit or loss 138-143 

10. Returns on Form 1040 with no net income: number of returns and 

deficit by States and Territories 169 

11. Returns on Form 1040 with no net net income: sources of income 

and deductions, and deficit, by deficit classes 170 

Fiduciary income tax returns: 

12. Returns with net income: sources of income and deductions, bal- 

ance income, amount distributable to beneficiaries, net income 
taxable to fiduciarj', personal exemption and tax, by balance 
income classes and by taxable and nontaxable returns 173-175 

13. Returns with no net income: sources of income and deductions and 

balance deficit or income, amount distributable to beneficiaries 

and deficit, by balance deficit and income classes 176-178 

Wholly and partially- tax-exempt Government obligations — Amount 
owned and interest received: 

14. Individual income tax returns including taxable fiduciary income 

tax returns with net income of $5,000 and over, bv net income 
classes - 181-182 

15. Fiduciary income tax returns with balance income of $5,000 and 

over, by balance income classes: 

Taxable returns 183 

Xon taxable returns 184 



VI CONTENTS 

KEVENUE ACTS OF 1913-1937 AND CERTAIN TAX PROVISIONS OF THE NATIONAL INDUS- 
TRIAL RECOVERY ACT (1933)— SYNOPSIS OF INDIVIDUAL INCOME AND PROFITS TAX 
RATES, FIDUCIARY INCOME TAX RATES, ESTATE AND GIFT TAX RATES, CREDITS 
AND EXEMPTIONS, AFFECTING THE COMPARABILITY OF DATA IN "STATISTICS 
OF INCOME" 

Individuals and fiduciaries: Page 

Required to file returns, personal exemption, credit for dependents, 

and normal tax rates, 1913-1937 188-191 

Surtax rates and total surtax, 1913-1937 192-193 

Supplemental income and profits tax rates and credits, 1917-1937. _ 194^195 
Estates: 

Rates, total estate tax, specific exemption, and credits against estate 

tax. Revenue Acts 1916-1935 196-197 

Gifts: 

Rates, total gift tax, specific exemption, exclusions and deductions. 

Revenue Acts 1924, 1932 and 1932 as amended by 1934 and 1935 198 

INCOME TAX FORMS 

Facsimiles of Forms 1040A, 1040, 1041, and 1065 for 1937 199-221 

Index 223-238 



STATISTICS OF INCOME FOR 1937 



PART 1 



INDIVIDUAL INCOME TAX RETURNS, FIDUCIARY INCOME TAX RETURNS 
ESTATE TAX RETURNS, AND GIFT TAX RETURNS 

Treasury Department, 
Office of Commissioner of Internal Revenue, 

Washington, D. C, January 31, 1940. 
Sir: In accordance with the provision in the Revenue Act of 1916 
and subsequent acts requirmg the pubhcation annually of statistics 
with respect to the operation of the income, war-profits, and excess- 
profits tax laws, I have the honor to transmit herewith a report en- 
titled "Statistics of Income for 1937, Part 1," prepared from individual 
income tax returns and fiduciary income tax returns for 1937 filed 
during 1938, with a historical presentation of the mcome and of the 
tax liability reported on individual income tax returns since the in- 
ception of the present period of income taxation under the sixteenth 
amendment to the Constitution. The report also contains tabulations 
of data from estate tax returns filed during 1938, irrespective of the 
date of death of the decedent, and tabulations of data from gift tax 
returns for 1937 filed during 1938, with brief historical summaries for 
each. 

INDIVIDUAL INCOME TAX RETURNS AND FIDUCIARY INCOME TAX 

RETURNS 

RETURNS TABULATED 

Individual mcome tax returns. Form 1040, 1040A, and 1040B, for 
1937 were filed under the provisions of the Revenue Act of 1936; 
fiduciary income tax returns. Form 1041, for 1937 were filed under 
the provisions of the Revenue Act of 1936 and this act as amended by 
the Revenue Act of 1937. The major changes in the provisions of 
the Revenue Acts of 1936 and 1937 affecting individual income tax 
returns and fiduciary income tax returns are set forth in the section 
of this report entitled "Revenue Acts of 1913-1937 and certain tax 
provisions of the National Industrial Recovery Act (1933)" on 
pages 188-195. 

For the income year 1937, income from an estate or trust, whether 
or not taxable to the fiduciary, is required to be reported on the fiduci- 
ary income tax return. Form 1041. (See General Instruction (A), 
facsimile of return, Form 1041, page 216.) Prior to 1937, income 
from an estate or trust which was taxable to the fiduciary was required 
to be reported on the individual mcome tax return. Form 1040, and 
income from an estate or trust which was nontaxable to the fiduciary 
was required to be reported on the fiduciary income tax return, Form 
1041, which was filed for information purposes. 

1 



2 STATISTICS OF INCOME 

The tables in this report, other than those Ksted in the following 
paragraph, contain combined data from indiviflual income tax returns 
with net income, Forms 1040, 1040A, and 1040B, and taxable fiduciary 
income tax returns, Form 1041. (Data for 8,463 taxable returns and 
data for 3,784 nontaxable returns with net income under $5,000 for 
estates and trusts wliich were reported by the fiduciary on return 
Form 1040 instead of on the proper 1937 return Form 1041 were 
tabulated with the data from the taxable fiduciary returns. Form 
1041.) Therefore, tables in this report and in the Statistics of Income 
for prior years relating to individual income tax returns with net 
income contain data from the same types of returns. 

The following tables do not contain combined data from both 
individual returns with net income and taxable fiduciary returns: 
(1) Information for individual income tax returns. Form 1040, with 
net income of $5,000 and over for persons engaged in business as 
sole proprietors as presented in the text table on pages 28-29 and in 
basic table 8; and (2) certain data for individual income tax returns 
with no net income as shown in text tables on page 30 and in basic 
tables 10 and 11. Basic tables 12 and 13 contain sources of income 
and deductions for fiduciary returns with net income and with no net 
income; and basic table 15 shows amount owned and interest received 
on wholly and partially tax-exempt Government obligations reported 
on fiduciary returns with balance income before distribution to 
beneficiaries of $5,000 and over. 

Data for individual returns with net income of less than $1,000 or 
with no net income are shown in the Statistics of Income because of 
certain provisions of the Revenue Act of 1921 and subsequent acts 
requiring that a return be filed (1) by every individual with gross 
ncome of $5,000 and over, irrespective of the amount of net income 
or deficit, and by every married couple living together and having an 
aggregate gross income of $5,000 and over; (2) by married couples 
electing to file separate returns, as provided by law; (3) in the case of 
the death of the taxpayer covering the income period to date of death ; 
and (4) by taxpayers electing to change the accounting period (part 
year returns). 

Data for fiduc'ary returns with net income of less than $1,000 or 
with no net income appear in this report because of the legal provisions 
that a return, Form 1041, be filed (1) for every estate or trust with 
gross income of $5,000 and over, irrespective of the amoimt of net 
income or deficit; (2) if any beneficiary of the estate or trust is a non- 
resident alien; (3) for a trust, with any amount of income, which is 
not entitled to the personal exemption of $1,000 allowed under section 
163(a) of the Revenue Act of 1936, as amended by section 401 of the 
Revenue Act of 1937 (see General Inst uction (A) and Specific In- 
struction 19, Form 1041, pp. 216-217); (4) in the case of a trust the 
distribution of any portion of the income of which is in the discretion 
of the trustee or conditioned upon a contingency, if the trust has no 
net income, but would have a net income of $1,000 or over except for 
a deduction for distributions to beneficiaries; and (5) part-year returns 
filed when the accounting period is changed. 

The year for which the income is reported is, in general, the calendar 
year ended December 31, 1937. However, a negligible number of 
individual and fiduciary returns is filed for a fiscal year other than the 
calendar yea'-. The returns for a fiscal year ended within the period 



STATISTICS OF INCOME 3 

July, 1937, through June, 1938, are tabuhited with the calendar year 
returns for 1937. There are also mcluded part-year returns for which 
the greater part of the accounting period falls in 1937, 

The statistics are taken from the returns as filed and prior to what- 
ever revision or adjustment that may be made as a result of audit 
by the Bureau of Internal Revenue. Included are amended returns 
with net income of $100,000 and over, but no tentative returns, or 
amended returns with net income under $100,000. 

Data are tabulated from each of the followhig returns: (1) Individual 
returns with net income of $5,000 and over, (2) individual returns 
with net income under $5,000 filed on Form 1040, which show income 
characteristics similar to those usually found on returns with net 
income of $5,000 and over, such as varied or unusual sources of income 
or large total income (which numbered approximately 401,000), and 
(3) fiduciary returns. 

The statistics pertaining to individual returns, Form 1040, with net 
income under $5,000, excepting those specified above, represent esti- 
mates based on samples of such returns. All returns. Form 1040, are 
sent to Washington for administrative action and those with net 
income under $5,000, excepting those referred to above, are sampled 
by the Statistical Section. The returns. Form 1040A, are retained 
in the collection districts and samples only are sent to Washington. 

The sample for 1937 includes (1) approximately 255,000 returns, 
Form 1040, representing 23 percent of the total number of taxable 
and nontaxable returns. Form 1040, with net income under $5,000, 
after deducting those which show income characteristics similar to 
those usually found in returns with net income of $5,000 and over, 
and (2) approximately 786,000 returns. Form 1040A, representing for 
each collection district not less than 20 percent of the number of 
taxable and nontaxable returns. Form 1040A, with net income under 
$5,000. The minimum for Form 1040 was 4,000 returns or 10 percent, 
whichever was larger, of the total number filed with net mcome under 
$5,000, and for Form 1040 A the minimum was 4,000 returns or 20 
percent of the number filed, whichever was larger. When the number 
of returns filed in a collection district in this class was less than 4,000 
in the case of either Form 1040 or Form 1040A, the entire number filed 
was tabulated. The sample of 1937 returns, Form 1040A, is approxi- 
mately double the size of the sample used for Forms 1040A for prior 
years. 

Estimates for each State of the distribution by net income classes 
of the total number of returns and each amount are secured by apply- 
ing to the sample the ratio of the total number of returns in the sample 
to the total number of returns with net income under $5,000. Esti- 
mates for each net income class of the number of returns in each source 
of income and deduction (shown in basic table 7, pages 133-137) are 
secured by applying to the number of returns in the sample for each 
source of income and deduction the ratio of the total number of returns 
in the sample to the estimated total number of returns in eacb net 
income class. All estimates are made separately for returns Form 
1040A and 1040 and for the taxable and nontaxable returns. 

TAX LIABILITY AND COLLECTIONS 

The amount of tax liability as reported on the returns is not pre- 
cisely comparable with the amount of individual income tax collec- 
tions during the calendar year in which the returns are filed. Several 



4 STATISTICS OF INCOME 

factors are responsible for the difference in the taxes collected and the 
tax liability reported on the returns, among which are the following: 

1. The amount of tax originally reported may have been subse- 
quently revised as the result of audit of returns. The revisions may 
result in additional assessments, thereby increasing the tax liability, 
or in certificates of overassessment, representing abatements and cred- 
its, which reduce the tax liability originally reported. An amended 
return has the same effect as an audit revision. 

2. Income and profits taxes paid to foreign countries or possessions, 
of the United States may be taken as a deduction from gross income 
or applied with certain limitations as a credit against the income tax 
payable to the United States. The amount of such taxes taken as a 
credit by individuals against the income tax liability to the United 
States has not been deducted from the amount of income tax liability 
shown in the tabulations in this report. The aggregate amounts of 
this credit, which are available only for the years 1925-1930, inclusive, 
appear on page 9 of the Statistics of Income for 1930. 

3. Individual income taxes paid at the source on tax-free covenant 
bonds are deductible from income taxes payable by individuals but 
are not deducted in arriving at the income tax liability of individual 
returns shown herein. 

4. For fiscal year returns on which the tax is paid in four equal 
installments, the total tax liability may not be collected during the 
calendar j^ear in which the returns are filed. 

5. Tabulations in this report exclude individual income tax returns, 
Forms 1040C, 1040D, 1040NB, and 1040NB-a, whereas collections in 
the current year include taxes on these returns. Form 1040C and 
1040D are designed for departing aliens. Forms 1040NB and 
1040NB-a are for nonresident aliens not engaged in trade or business 
within the United States and not having an office or place of business 
therein. 

6. Delays in payment due to financial embarrassment, death, liqui- 
dation of business, or any other cause, result in collections of taxes 
after the close of the year in which such taxes are due, and the classi- 
fication of such collections as "back taxes" because made in a sub- 
sequent year. For similar reasons, certain amounts are uncollectible. 

7. Collections in the current year include such interest and penalty 
items as are received in connection with delinquent payments on 
returns. 

COMPARABILITY WITH PREVIOUS REPORTS 

In various sections of this report, attention is directed to changes 
in the provisions of the revenue acts under which the returns for given 
years are filed which interfere with a precise comparability of the data 
over a period of years. The major provisions of the revenue acts from 
1913 to date are shown in the section of this report entitled "Revenue 
Acts of 1913-1937 and certain tax provisions of the National Indus- 
trial Recovery Act (1933)" on pages 188-198. Attention is called to 
the fact that tables in this report showing combined data from indi- 
vidual returns with net income and taxable fiduciary returns contain 
data from the same types of returns as those published in the Sta- 
tistics of Income for prior years relating to individual income tax 
returns with net income (see the first paragraph on page 2 and the 
third paragraph on page 7). 



STATISTICS OF INCOME 5 

QEOQRAPHIC DISTRIBUTION 

Individual income tax returns may be filed either in the collection 
district in which the taxpayer resides or in which his principal place 
of business is located. Although the returns are tabulated by the 
States in which they are filed, the data do not represent the geographic 
distribution of the sources of income, as income reported by an indi- 
vidual in one State may have beeti derived from sources in other 
States. 

DEFINITIONS OF NET INCOME AND DEFICIT 

Individual returns. — "Net income" means the amount of gross 
income, as defined in the revenue acts eft'ective for the year for which 
the returns are filed, in excess of the deductions claimed by the 
taxpayer under the provisions of the respective acts (item 20 on page 1 
of Form 1040, page 206); and "deficit" means excess of deductions 
over gross income. Credits allowed individuals, such as personal 
exemption, credit for dependents, and credit for earned income, are 
not included in deductions. For the income years 1934 through 1937, 
net income includes gam and loss from the sale of capital assets to 
the extent provided under the Revenue Acts of 1934 and 1936. 

Net income subject to surtax means the excess of net income over 
personal exemption and credit for dependents. Net income subject 
to the normal tax is equal to the surtax net income less (1) the amount 
of interest received on Government obligations not wholly exempt 
from tax and (2) the earned income credit. 

Taxable fiduciary returns. — In the text and basic tables showing 
data for individual returns with net income and taxable fiduciary 
returns, "net income" for estates and trusts means the amount of gross 
income as defined by law in excess of the sum of the allowable deduc- 
tions and the amount distributable to beneficiaries (item 17, face of 
return, Form 1041, page 214). The credit for personal exemption 
is not included in deductions. Net income includes gain and loss 
from the sale of capital assets to the extent provided under the 
Revenue Act of 1936. 

Net income subject to surtax means the excess of net income over 
personal exemption. Net income subject to normal tax is equal to 
the surtax net income less the fiduciaiy's balance of interest received 
on Government obligations not wholly exempt from tax. 

For the definitions of "balance income," "balance deficit," and 
"deficit" used in basic tables 12, 13, and 15, see page 31 in the section 
of this report entitled "Fiduciary income tax returns." 

NET INCOME AND DEFICIT CLASSES 

In the text and basic tables showing data for individual returns with 
net income and taxable fiduciary returns the net income classes are 
based on the size of net income as defined above (item 20 on page 1 of 
Form 1040, page 206, and item 17, face of return. Form 1041, page 
214). The $500 class intervals for returns with net income of $1,000 
and under $5,000, which appeared in the basic tables 2,5, and 9 in the 
Statistics of Income for 1934, 1935, and 1936, Part 1, have been 
replaced by $1,000 class intervals with the exception of the net income 
classes $2,000 under $2,500 and $2,500 under $3,000. 



6 STATISTICS OF INCOME 

The deficit classes in the text table on page 30 and in basic table 11, 
showing data for individual income tax returns, Form 1040, with no 
net income, are based on the size of the deficit as defined above (item 
20 on page 1 of Form 1040, page 206). 

For statement regarding classes of "balance income" and "balance 
deficit" in basic tables 12, 13, and 15, see page 31 of the section of this 
report entitled "Fiduciary incoine tax returns." 

NUMBER OF RETURNS, NET INCOME AND TAX 

The total number of individual income tax returns and fiduciary- 
income tax returns for 1937, including returns with net income and 
with no net income, shown in this report is 6,568,710. Data for 
6,350,148 individual retuiTis with net income and taxable fiduciary 
returns (including 3,784 nontaxable returns for estates and trusts 
which were filed on Form 1040 instead of on the proper 1937 return, 
Form 1041), are shown in the text and basic tables excepting those 
mentioned in the following sentences. Certain data for the 83,904 
individual income tax returns with no net income are presented in the 
text tables on page 30 and in basic tables 10 and 11. Selected infor- 
mation for 26,969 nontaxable fiduciary returns with net income filed 
on Form 1041 and for 107,689 fiduciary returns with no net income 
are presented for the first time in basic tables 12 and 13. Information 
for income from business conducted as sole proprietors, for returns 
with net income of $5,000 and over, is shown in the text table on pages 
28-29 and in basic table 8. Data relating to wholly and partially 
tax-exempt Government obligations reported on fiduciary returns 
with balance income of $5,000 and over are shown for the first time 
in basic table 15. 

Individual returns with net income including taxable fiduciary re- 
turns.— 1^\\q number of returns for 1937 is 6,350,148, of which 3,371,443 
are taxable and 2,978,705 nontaxable. (Of these 2,978,705 nontaxable 
returns, 3,784 are for estates and trusts wliicli were filed on Form 1040 
instead of on the proper 1937 return. Form 1041. See the third 
paragraph on page 7). Aggregate net income is $21,238,574,163, of 
which $15,264,162,417 is reported on taxable returns and $5,974,411,- 
746 on nontaxable returns. The total tax liabihtv reported on taxable 
returns is $1,141,568,744. Tax HabiHty averages $180 foV all returns 
and $339 for taxable returns. The effective tax rates are 5.4 percent 
for all returns and 7.5 percent for taxable returns. 

As compared with returns for 1936, the total number of returns 
increased 936,649, or 17.3 percent, the number of taxable returns in- 
creased 510,335, or 17.8 percent, and the number of nontaxable returns 
increased 426,314, or 16.7 percent. Aggregate net income increased 
$1,998,464,519, or 10.4 percent, the net income on taxable returns 
increased $1,045,308,867, or 7.4 percent, and the net income on non- 
taxable returns increased $953,155,652, or 19.0 percent. The tax 
liability decreased $72,448,059, or 6.0 percent. The efl'ective tax 
rates for 1936, which are somewhat higher than those for 1937, were 
6.3 percent for all returns and 8.5 percent for taxable returns. 

The distribution of individual returns with net income and taxable 
fiduciary returns by States and Territories is given in basic table 1, 
pages 115-116, and by net income classes in basic table 2, pages 
117-118. Each of tliese tables shows number of returns, net income, 
personal exeni])tion, credit for dependents, and tax. In basic 



STATISTICS OF INCOME 7 

table 1 the amounts of personal exemption and credit for dependents 
are shown separateh^ whereas in former j^ears the}, were combined 
In basic table 2 the $500 class intervals for returns with net income 
of $1,000 and under $5,000, which appeared in basic table 2 in 
the Statistics of Income for 1934, 1935, and 1936, Part 1, have been 
replaced by $1,000 class intervals with the exception of the net income 
classes $2,000 under $2,500 and $2,500 under $3,000. 

Individual income tax returns with no net income. — The number of 
returns for 1937 is 83,904 and the deficit is $308,517,925 (see text 
tables on page 30 and basic tables 10 and 11). As compared with 
1936, the total number increased 10,632, or 14.5 percent, and the 
deficit increased $21,886,091, or 7.6 percent. 

Nontaxable fiduciary returns with net income and fiduciary returns 
with no net income. — The number of nontaxable returns is 30,753 and 
the net income taxable to the fiduciary reported on such returns is 
$11,282,501. Data for 3,784 of these nontaxable returns, which w^ere 
filed on Form 1040 instead of on the proper 1937 Form 1041, are in- 
cluded in the text and basic tables in this report containing individual 
income tax returiis and taxable fiduciary income tax returns. (See 
the following- paragraph.) The number of returns with no net in- 
come is 107,689. Selected data from these returns are shown in this 
report for the first time in basic tables 12 and 13. 

INDIVIDUAL INCOME TAX RETURNS (INCLUDING TAXABLE FIDUCIARY 
INCOME TAX RETURNS) 

Information for returns with net income under $5,000 in tlie text 
tables in this section of the report and in basic tables 1-7 and 9 includes 
that reported on 3,784 nontaxable returns for estates and trusts which 
were filed on Form 1040 instead of on the proper 1937 return Form 
1041. Because of the small number of nontaxable returns, the text in 
this report refers to these tables as containing individual income tax- 
returns with net income and taxable fiduciary income tax returns. 
A footnote on each table indicates that the nontaxable returns are 
included . By the inclusion of this small number of nontaxable returns, 
data in the text tables in this section of the report and basic tables 1-7 
and 9 are tabulated from the same types of returns as those shown in 
similar tables for prior years. 

SIMPLE AND CUMULATIVE DISTRIBUTION BY NET INCOME CLASSES OF 
NUMBER OF RETURNS, NET INCOME, AND TAX 

The distribution of individual returns with net income and taxable 
fiduciary returns by a limited number of net income classes is ex- 
hibited m the following table. There are shown the number of 
returns, net income, and tax and also cumulative totals and per- 
centages. Basic table 3, pages 119-121, contains the number of 
returns, net income and tax distributed by a more detailed net income 
classification . 



8 



STATISTICS OF INCOME 



Individual returns^ with net income, 1937, by net income classes: simple and cumu- 
lative distribution of mimber of returns, net income and tax, and percentages - 

[Net income classes and money figures in thousands of dollars] 









Returns 






Net income classes 


Simple dis 


ribution 


Cumulative distri- 
bution from high- 
est income class 


Cumulative distribu- 
tion from lowest 
income class 




Number 


Percent 


Number 


Percent 


Number 


Percent 




297, 143 

2, 524, 763 

1,571,996 

1,251,213 

471,171 

178, 446 

38, 948 

12,318 

2,269 

1,358 

312 

162 

49 


4.68 

39.76 

24.76 

19.70 

7.42 

2.81 

.61 

.19 

.04 

.02 

.01 

(3) 
0) 


6, 350, 148 

6, 053, 005 

3, 528, 242 

1, 956, 246 

705, 033 

233, 862 

55,416 

16, 468 

4,150 

1,881 

523 

211 

49 


100. 00 

95.32 

55. 56 

30.80 

11.10 

3.68 

.87 

.26 

.07 

.03 

.01 


297, 143 
2,821,906 
4, 393, 902 
5.645,115 
6,116,286 
6, 294, 732 
6,333,680 
6,345,998 
6, 348, 267 
6, 349, 625 
6, 349. 937 
6, 350, 099 
6,350,148 


4.68 




44.44 




69.20 




88.90 




96. 32 




99.13 




99.74 


50 under 100 - 


99.93 




99.97 




99.99 


300 under 500 


99.99 


500 under 1 000 


99.99 


1,000 and over 


100.00 


Total , 


6,350,148 


100. 00 























Net income 


Net income classes 


.Simple dis 


ribution 


Ciunnlative distri- 
bution from high- 
est income class 


Cumulative distribu- 
tion from lowest 
income class 




Amount 


Percent 


Amount 


Percent 


Amount 


Percent 




202, 401 

3, 592, 283 

3, 980, 864 

4, 646, 965 

3, 170, 571 

2, 639, 518 

1,319,431 

824, 261 

272, 264 

272, 724 

117,477 

114,399 

85,416 


0.95 

16.92 

18.75 

21.88 

14.93 

12. 43 

6.21 

3.88 

1.28 

1.28 

.55 

.54 

.40 


21, 238, 574 

21, 036, 173 

17,443,891 

13,463,027 

8, 816, 062 

5, 645, 491 

3, 005, 973 

1, 686, 541 

862, 280 

590,016 

317, 292 

199,815 

85, 416 


100.00 

99.05 

82.13 

63.38 

41.50 

26.57 

14.14 

7.93 

4.05 

2.77 

1.49 

.94 

.40 


202, 401 
3, 794, 684 
7, 775, 548 
12, 422. 513 
15,593,084 
18,232,602 
19, 552, 033 
20. 376, 294 
20, 648, 558 
20,921,282 
21,038,759 
21, 153, 158 
21, 238, 574 


0.95 




17.87 


2 under 3 (estimated) ---- 


36.62 
58.50 




73.43 




85.86 




92.07 




95.95 


100 under 150 


97.23 


1 50 under 300 - 


98.51 




99.06 


500 under 1 000 - 


99.60 


1,000 and over 


100.00 




21, 238, 574 


100. 00 



























Ta 


\; 






Net income classes 


Simple distribution 


Cumulative distxi- 
bution from high- 
est income class 


Cumulative distribu- 
tion from lowest 
income class 




Amount 


Percent 


Amount 


Percent 


Amount 


Percent 




468 

17, 262 

15,622 

38, 852 

83, 529 

175, 709 

179,395 

194,507 

102,062 

131,060 

67, 489 

74, 156 

61.457 


0.04 
1.51 
1.37 
3.40 
7.32 
15.39 
15.72 
17.04 
8.94 
11.48 
5.91 
6.50 
5.38 


1,141,569 

1,141,101 

1, 123, 838 

1,108,217 

1,069,364 

985,836 

810, 126 

630, 731 

436, 224 

334, 102 

203, 102 

135, 613 

61,457 


100.00 
99.96 
98.45 
97.08 
93.67 
86.35 
70.96 
55.25 
38.21 
29.27 
17.79 
11.88 
5.38 


468 

17, 730 

33, 352 

72,204 

155,733 

331, 442 

510, 837 

705,345 

807,406 

938, 466 

1, 005, 956 

1,080,111 

1.141,569 


0.04 




1.55 




2.92 




6.33 




13.64 




29.03 




44.75 


50 under 100 


61.79 


100 under 150 - - 


70.73 


1,50 under 300 


82.21 


300 under 500 --- -- 


88.12 


.WO under 1 000 - 


94.62 


1,000 and over 


100.00 


Total 


1,141,569 


100.00 





















1 Includes .36,068 taxable returns. Form 1041, which correspond to taxable returns. Form 1040, for estates 
and trusts filed for prior years, and 8,463 taxable returns and 3,784 nontaxable returns lor estates and trusts 
hied on J'orin 1040 which should have been hied on Form 1041. 

2 For L'cneral explanations, see pp. 1-6. 

3 Loss than one-hundredth of 1 percent. 



STATISTICS OF INCOME 



9 



CLASSIFICATION BY SEX AND FAMILY RELATIONSHIP 

The table presented herewith shows the number of individual 
returns with net income (including taxable fiduciar}'^ returns) and the 
net income distributed according to sex and family relationship of 
the taxpayer. In basic table 4, pages 122-124, similar data are shown 
by States and Territories. In basic table 5, pages 125-129, there are 
presented the number of returns, net income, personal exemption and 
credit for dependents classified by net income classes and by the sex 
and family relationship of the taxpayer. The amounts of personal 
exemption and credit for dependents are shown for the first time by 
sex and family relationship. In basic table 5, the $500 class intervals 
for returns with net income of $1,000 and under $5,000, which ap- 
peared in basic table 5 in the Statistics of Income for 1934, 1935, and 
1936, Part 1, have been replaced by $1,000 class intervals with the 
exception of the net income classes $2,000 under $2,500 and $2,500 
under $3,000. 

The tabulation of the individual returns showing community prop- 
erty income excludes returns with net income under $5,000 and joint 
returns of husband and wife with net income under $10,000. The 
returns of married persons not showing community property income 
filed in the eight community property States are classified according 
to the status reported, as joint returns of husbands and wives or 
separate returns of husbands and wives. In tabulating joint returns 
showmg community property net income of $10,000 and over, with 
tax liability apportioned between husband and wiie, the items of in- 
come and deductions are divided to represent two community prop- 
erty returns, the net income class for each of the separate returns 
being one-half of the combined community income. Separate re- 
turns of husbands and wives showing community property income of 
$5,000 and over are classified as community property returns by net 
income classes according to the net income on each return. 

Individual returns i with net income, 1937, by sex and family relationship: ninnher 
of returns, net income and percentages ^ 





Returns 


Net income 


Family relationship 


Number 


Percent 


Amount 
(thousands 
of dollars) 


Percent 


Joint returns of husbands, wives, and dependent children, 
and returns of either husband or wife when no other re- 
turn is filed _.__ . .. ... 


2, 782, 822 

158, 981 
158, 302 

444. 386 

213, 490 

1.597,843 

891, 778 
54, 231 
48, 315 


43.83 

2.50 
2.49 

7.00 

3.36 

25.16 

14.05 
.85 
.76 


10, 505, 776 

2,044,910 
934, 579 

1,211,750 

529, 327 

3, 127, 141 

1,920,838 
666,980 
297, 272 


49.47 


Separate returns of husbands and wives: 

Men 3_. __. ._. 


9.63 


Women ^.. . . . . . 


4.40 


Heads of families: 

Single men and married men not living with wives 

Single women and married women not living with 
husbands.- 


5.71 
2.49 


Not heads of families: 

Single men and married men not living with wives 

Single women and married women not living with 
husbands 


14.72 
9.04 


Community property returns . . 


3.14 


Estates and trusts ' .-. . 


1.40 






Grand total . . .-- 


6, 350, 148 


100.00 


21,238,574 


100. 00 







' See footnote 1, p. 8. 

2 For general explanations, see pp. 1-6. 

5 An unequal number of separate returns of husbands and wives results from the use of the sample method 
for returns with net income under $5,000, as the net income of one spouse may be $5,000 or over and that of 
the other spouse under $5,000 (see discussion of sample, p. 3). 



10 



STATISTICS OF INCOME 



PERSONAL EXEMPTION AND CREDITS AGAINST NET INCOME 

The net income specifically exempt from normal tax through per- 
sonal exemption, credit for dependents, earned income credit, and 
interest on Government obligations not wholly exempt from tax, 
together with net income subject to normal tax is shown in the follow- 
ing table. The credit for dependents and the credit for earned income 
are not applicable to the returns for estates and trusts included in 
the table. 



Individual returns ' witJi net income, 1937: net income exempt from and amount 

subject to normal tax ^ 



Distribution 



Net income 

Personal exemption and credits against net income: 

Personal exemption 

Credit for dependents 

Earned income credit 

Taxable interest on partially tax-exempt Government obligations ' 

Total __.. 

Less: Excess exemption and credits * 

Net income exempt from normal tax 

Net income subject to normal tax 



Amount 
(thousands 
of dollars) 



21, 238, 574 



1 1, 523, 374 

1.597,344 

1, 480, 900 

47, 955 



14, 649, 573 
1, 774, 748 



12, 874, 824 



8, 363, 750 



Percent 



100. 00 



54.26 

7.52 

6.97 

.23 



68.98 
8.36 



60.62 



39.38 



1 See footnote 1, p. 8. 

2 For general explanations, see pp. 1-6. 

3 Interest received on United States savings bonds and Treasury bonds, owned in excess of $5,000, and on 
obligations of certain instrumentalities of the United States (see items 5 and 25, Form 1040, p. 206) reported 
on returns with net income of $5,000 and over. 

♦ Includes taxable interest received on partially tax-e.xempt Government obligations reported on returns 
with net income under $5,000. 

CAPITAL GAINS AND LOSSES 

The special provisions in the revenue acts for capital gains and losses 
from the sale of assets held more than two years apply, for capital gains, 
to sales after December 31, 1921, and prior to January 1, 1934, and for 
capital losses, to sales after December 31, 1923, and prior to January 
1, 1934. A summary of the provisions of the Revenue Act of 1921 and 
subsequent acts, affecting the tax on capital gains, and of the pro- 
visions of the Revenue Act of 1924 and subsequent acts, affecting the 
tax credit on capital losses, is found on pages 8 and 9 of the Statistics 
of Income for 1933 and in the section of the current report entitled 
"Revenue Acts of 1913-1937 and certain tax provisions of the National 
Industrial Recovery Act", pages 194-195. The "total income" and 
"net income" for individual returns for 1922 through 1933, as pre- 
sented in the historical tables, pages 41-47 , include "capital net gains," 
whereas, for the years 1924 through 1933 the "net income" has not 
been reduced by and "deductions" have not been increased by the 
amount of "capital net losses" reported for tax credit. 

Under the Revenue Acts of 1934 and 1936, the definition of capital 
assets is extended to include assets held by the taxpayer, regardless of 
time held, instead of only assets held over two years. Also, certahi 
percentages of the gain or loss recognized upon such sales or exchanges 
are taken into account in computing net income. These percentages 
vary according to the period for wiiich the assets have been hold. 
The deduction for net capital losses is limited to an amount not in 



STATISTICS OF INCOME H 

excess of $2,000, after subtracting the prorated gains from the sales or 
exchanges of capital assets. 

The net income reported on individual returns for 1934 through 1937 
includes net capital gain and loss computed in accordance with the 
limitations stated in the preceding paragraph. It is not possible, by 
using the net capital gain and net capital loss on the returns for these 
years, to adjust the "total income," ''net income," and "deductions" 
so that they will bo comparable with these items tabulated for prior 
years. Moreover, net capital gain and loss reported on individual 
returns for 1934 through 1937 are not comparable with "profit and 
loss from sale of real estate, stocks, and bonds, etc.," "capital net 
gain," or "capital net loss" which were reported on returns for prior 
years. The net capital gain and loss reported on fiduciary returns for 
1937 included in this report are computed according to the limitations 
which apply to the individual returns. 

SOURCES OF INCOME AND DEDUCTIONS 

In the table on page 12 there appears a distribution, by sources, of 
the income and deductions reported on individual returns and on 
taxable fiduciary returns. Income from the various sources represents 
the net amount by which the gross receipts exceed the deductions 
allowed, as reported in the schedules of the return (see Forms 1040 
and 1041, pp. 206-217), and in aggregate represents the sum of the 
net amounts of income from each source. Net losses reported under 
"income" items on the face of the returns are transferred in tabulation 
to deductions, which also include amounts reported on the return 
under "deductions." 

Income from partnerships and fiduciaries includes net capital gain 
or loss allowed upon sale of capital assets and dividends received by 
these entities on stock of domestic corporations and foreign corpora- 
tions, but excludes taxable interest received by these entities on obliga- 
tions of the United States, which is reported separately under its 
classification. 

For statements regarding business profit and loss and the number 
of businesses with profit or loss, see section of this report entitled 
"Profit and loss from business," etc., pages 26-27. 

With reference to the amount of net capital gain and loss, attention 
is directed to the provisions of the Revenue Acts of 1934 and 1936, as 
described in the section of the text entitled "Capital gains and losses," 
pages 10-11. 

The items of "interest paid" and "taxes paid" which are reported 
under "deductions" on income tax returns do not include amounts 
reported as business deductions. 

Interest paid is reported as item 14, on the face of the return. Form 
1040, in accordance with the following instructions: 

Enter as item 14 interest on personal indebtedness as distinguished from 
business indebtedness (which should be deducted under schedules C and D). 
Do not include interest on indebtedness incurred or continued to purchase or 
carry obligations (other than obligations of the United States issued after Septem- 
ber 24, 1917, and originally subscribed for by the taxpayer) the interest upon which 
is wholly exempt from taxation. 

Taxes paid exclude (1) the Federal income tax, (2) estate, in- 
heritance, legacy, succession, and gift taxes, (3) income and profits 
taxes paid to foreign countries or possessions of the United States,. 

186585 — 40 2 



12 



STATISTICS OF INCOME 



which are allowed as a credit against the tax, and (4) taxes reported on 
Form 1040F, schedule of farm income and expenses. Taxes paid are 
reported as item 15 on the face of the return, Form 1040, in accordance 
with the following instructions: 

Enter as item 15 taxes imposed upon you and paid or accrued during the taxable 
year, not including taxes on property used in your business or profession and 
those assessed against local benefits of a kind tending to increase the value of the 
property assessed. Do not include Federal income taxes, nor estate, inheritance, 
legacy, succession, gift taxes, taxes imposed upon your interest as shareholder of 
a corporation which are paid by the corporation without reimbursement from 
you, nor income taxes claimed as a credit in item 32. Do not include sales 
taxes miless the tax was imposed directly upon you by law. No deduction is 
allowable for any portion of foreign income and profits taxes if a credit is claimed 
in item 32. 

A historical summary of taxes paid for the years 1927 through 1932 
and of interest paid for the years 1928 through 1932 is found in the 
1932 Statistics of Income, table 8A, page 80. 

In the tables showing sources of income and deductions combined 
for individual returns and taxable fiduciary returns "other deduc- 
tions" and "total deductions" include the "amount distributable to 
beneficiaries" reported on returns for estates and trusts. This 
method of tabulating the "amount distributable to beneficiaries" is 
similar to that for former years when taxable fiduciary income was 
reported on the individual income tax return, Form 1040. For a 
separate tabulation of the amount distributable to beneficiaries, see 
basic tables 12 and 13 which contain data for fiduciary returns. 

Individual returns ^ with net income, 1937: sources of income and deductions, and 

percentages ^ 



Sources of income and deductions 



Sources of income: 

Salaries, wages, commissions, fees, etc 

Dividends from domestic and foreign corporations ' 

Taxable interest: 

Bank deposits, notes, mortgages, corporation bonds * 

Partially tax-exempt Government obligations ' 

Partnership profit ^ 

Income from fiduciaries * 

Rents and royalties 

Business profit 

Net capital gain ' 

Other income 

Total income 

Deductions: 

Partnership loss ^ 

Business loss 

Net capital loss ' 

Contributions 

Interest paid 8 

Taxes paid ' 

other deductions » 

Total deductions '. 

Net income 



Amount 
(thousands 
of dollars) 



14, 148, 510 


57.85 


3, 514, 293 


14.37 


862. 349 


3.52 


47, 955 


.20 


1,139,301 


4.66 


830. 772 


3.40 


758, 444 


3.10 


2, 493. 426 


10.20 


434. 114 


1.78 


224, 935 


.92 


24, 454. 099 


100.00 


29,011 


.12 


97, 940 


.40 


264, 192 


1.08 


440. 010 


1.80 


500, 997 


2.30 


837, 272 


3.42 


986, 103 


4.03 


3, 215. 525 


13. 15 



Percent 



86.85 



' See footnote 1, p. 8. 

2 For general explanations, sec pp. 1-6. 

3 Excludes dividends received through partnerships and fiduciaries. 
* See footnote 4, p. 10. 

» See footnote 3, p. 10. 

« See text, p. 11. 

' For definition of capital assets and amounts of net capital sain and loss taken into account for tnx pur- 
poses, see text, pp. 10-11, and synopsis of laws, pp. 194-195. 

' Excludes amounts reported in Schedules C and D as business deductions. 

' Includes "amount distributable to beneficiaries" reported on returns for estates and trusts included in 
this table (see footnote 1). 



STATISTICS OF INCOME 



13 



The following table shows, for a limited number of net income 
classes, sources of income, deductions, net income, total number 
of returns, and frequency of each specific source of income and 
deduction. This year, for the first time, there is available the number 
of returns with net income under $5,000 on which the specific sources 
of income and deductions are reported. The table on pages 15-16 
shows for a limited number of net income classes the percentage dis- 
tribution of sources of income, deductions, and net income. 

Sources of income and deductions and net income distributed by 
States and Territories are shown in basic table 6 on pages 130-132. 
Basic table 7 on pages 133-137 shows data similar to those in the 
following table for more detailed net income classes. This year, for 
the first time, table 7 includes the number of returns on which specific 
sources of income and deductions are reported and the amount of 
each source of income and deductions for returns with net income under 
$5,000, classified by size of net income. 

Individual returns,'^ ivith net income, 1937, by net income classes: sources of income, 
deductions, net income, total number of returns, and frequency of each specific source 
of income and deduction 2 

[Net income classes and money figures in thousands of dollars] 





Total 

number of 

returns 


Sources of income 




Salaries, wages, com- 
missions, fees, etc. 


Dividends from do- 
mestic and foreign 
corporations ^ 


Taxable interest 


Net income classes 


Bank deposits, notes, 
mortgages, corpora- 
tion bonds 




Number of 
returns 


Amount 


Number of 
returns 


Amount 


Number of 
returns 


Amount 


Under 5 (estimated) 

5 under 10 . 


5.645,115 

471, 171 

178, 446 

38, 948 

12,318 

2,269 

1,358 

312 

162 

49 


4, 663, 873 

309. 550 

113, 4.52 

23, 527 

7,395 

1,348 

746 

164 

84 

29 


10,328,531 

1, 849, 041 

1,192,216 

447, 205 

217, 985 

56,030 

41, 294 

10, 082 

4,929 

1,196 


1,246,946 

261, 469 

135, 979 

34, 361 

11,534 

2,185 

1,304 

301 

155 

47 


733, 764 

479, 600 

721,875 

540, 050 

434, 567 

164, 243 

186, 359 

90, 506 

96, 833 

66, 497 


12 1,361,145 
194, 001 

97, 056 

25, 575 

9,478 

1,854 

1,142 

275 

142 

44 


'3 430, 426 
149, 094 

148 652 


10 under 25 . . . 


25 under 50 


69, 132 


sounder 100 


38, 179 


100 under 150 


10, 530 


150 under 300. 


8,474 


.300 under 500 


3,240 


500 under 1,000 


2,167 


1,000 and over 


2,455 




Total-- 


6, 350. 148 


5, 120, 168 


14, 148, 510 


1, 694, 281 


3, 514, 293 


1,690,712 


862, 349 







Sources of income— Continued 




Taxable interest— Con. 


Partnership profit 5 




Net income classes 


Partially tax-exempt 
Government obliga- 
tions * 


Income from fidu- 
ciaries ^ 




Number of 
returns '" 


Amount 


Number of 
returns 


Amount 


Number of 
returns 


Amount 


Under 5 (estimated) - 




CO 

13, 159 

16, 426 

9,980 

5. 219 

1,508 

1,036 

473 

118 

36 


149, 673 

55, 318 

27, 636 

6,972 

2,211 

345 

182 

46 

22 

5 


312,243 

276, 943 

279, 487 

145, 549 

78, 410 

22, 097 

17, 123 

4,414 

1,832 

1,203 


87, 792 

35, 194 

23,517 

7,258 

4,353 

726 

496 

116 

83 

37 


126, 852 


5 under 10 . . 


24, 586 

19, 164 

7,033 

2,801 

559 

310 

72 

43 

13 


119,574 


10 under 25_ . 


179,382 


25 under 50 _- 


134. 093 


sounder 100 


104, 895 


100 under 150 


39, 678 


150 under 300- 


48, 981 


300 under 500 - . . 


23. 742 


500 under 1,000., 


28. 950 


1,000 and over 


2^. 625 


Total -.-- . 


54, 581 


47,955 


242,410 


1, 139, 301 


159, 572 


830, 772 







For footnotes, see p. 15. 



14 



STATISTICS OF INCOME 



Individual returns,^ icith net inc4>me, 1937, by tift income classes: sources of income, 
deductions, net iticome, total number of returns, and frequency of each specific source 
of income and deduction - — Continued 

[Net incmne classes and money figrares in thousands of dollars] 
Sources of income — Continued 



N'ct income classes 



Rents and royalties 



Business profit 



Xet capital gain ' 





1 Xumber of 
returns 


Amotint 


Number of 
businesses " 


Amount 


Number of 
returns 


Amount 


Under 5 (estimated) 

g under 10 


525.3S3 

97, 515 

43.466 

10. 415 

3.460 

632 

425 

86 

60 

13 


433,575 

134.930 

103. SSo 

44.297 

24,019 

7. 481 

6.758 

1.259 

2.374 

366 


651.904 ! 

99.615 1 

3a 342 ' 

4.563 ' 

1.036 1 

149 ' 

79 i 

IS , 

i ' 


1. 430. 551 

565.497 

337.600 

101. 124 

37.318 

8,958 

7,812 

3.460 

1.081 

24 


159.522 

70;S86 

40.055 

10.957 

3.842 

r20 

428 

104 

58 

20 


108.844 
84.320 


10 tmder 25 


97.983 




54,38:? 


50 — .^r :CV> 


38.464 
14, 359 
14,688 




.1 


11,235 


5i>J — i-.r :,000 

1 000 and over - . 


3.090 
6 747 






Total 


1 6SI.455 


758.444 


787,712 j 


•2. 493. 426 


286,592 


434,114 



Sources of income — 
Continued 



Deductions 



Net income dases 



Partnership loss 



Business loss 



Oth«-in- 
eome* 



Total in- 
come 



Number of ._,„,,„* Number of 1 ,„ , 

returns Amount ^.u^inj^^n: Amount 



Under 5 (estimated "> 

otmder 10 

10 under 25 

ffi tmder 50 

aOimda- 100 

100tmderl50 

150 under 300 

300 under 500 

500 under 1,000 

1,000 and over 

Tofad 



133.003 

31.454 

31,364 

14,643 

8,052 

2.S8 

2,871 

449 

278 

583 



14.0S7.7S9 

3,7X13,613 

3,108.371 

1,56a 457 

987. 107 

327,123 

335,396 

148.859 

141,652 

103,732 



12,^0 

4.088 

a 676 

910 

352 

97 

74 

14 



1Z476 
5.039 I 
4.934 
2,454 I 
1,488 j 
802 I 
468 
1.236 
80 I 
44 



43,522 

9,406 

5.834 

a005 

849 

184 

159 

36 

41 

14 



2^11 
301 
959 
562 
965 
728 
477 
015 
211 
463 



224.935 24.454.099 



29.011 



62.042 



Deductions — Continued 



Net income classes 



Net capita] loss « 



Contributions 



Interest paid ' 



Number of 

returns 



Under 5 Cestimated). 

5 undw 10 

10tmd«-25 

Sunder 50 

30 undo- 100 

100 tmder 150 

150 tmder -300 

300 tmder 500 

500 under 1.000 

1.000 and over 

Total 



147,673 
62,785 
42.791 

13,694 

5,276 

1.085 

696 

148 

89 

19 



Amount 



NumbCT of 
returns , 



124.360 

57,405 

51.535 

19.483 

8.144 

1,736 

1.115 

242 

146 

35 



,255.412 

369,000 

145.277 

32,809 

ia764 

2,045 

1,231 

271 

146 

48 



Numbffl-of 
returns 



221.397 
61.882 
5Z559 
31,208 
36,306 
11.213 
13.221 
7.007 
7.676 
7,641 



1,452,600 

343,457 

99,450 

23.426 

8.050 

1.713 

999 

236 

129 

39 



295,754 

106,762 

8a 796 

34.804 

30.365 

6,533 

6.580 

3.133 

4,842 

1.527 



274.256 



364. 192 3. 817. 003 



440.010 1,830,099 .560.997 



For footnotes, see p. 15. 



STATISTICS OF INCOME 



15 



I ndividual returns,^ u~ilh net -income, 1987, hy net income classes: sources of income, 
deductions, net income, total number of returns, and frequency of each specific source 
of income and deduction 2 — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



Deductions — Continued 



Taxes paid '■ 



Number of 
returns 



Other<ie- 
ductions ' > 



ToUl de- 
ductions » 



Net income 



Under 5 (estimated; 3,074,609 



5 under 10. 

10 under 25 

25 under 50 

50 under 100... 
100 under lyj... 
150 under 300... 
300 under 500... 
500 under 1,000. 
1,000 and over.. 



Total. 



397, 146 

159, 620 

36. 095 

11,692 

2,188 

1. 321 

311 

153 

49 

3,683,184 



405,652 
135, 791 
127,698 
68,056 
46,690 
16,980 
17,515 
8,632 
6.049 
4,210 



8.37, 272 



5U379 
150,862 
135, 372 
75,458 
54,088 
15,877 
21,297 
9,125 I 
7.250 . 
4,395 i 



1, 615, 277 

5.33,042 

468,853 

241, 025 

162,846 

.54,859 

62,672 

31,381 

27,2.53 

18, .316 



12.422,513 

3, 170, 571 

2, 639, 518 

1, 319, 431 

824.261 

272,264 

272,724 

117, 477 

114,399 

8.5.416 



986, 103 3, 215. -525 1 21, 238, 574 



! See footnote 1, p. 8. 

2 For general explanations, see pp. 1-6. 

3 See footnote 3, p. 12. 

' Interest received on United States savings bonds and Treasury bonds, owned in excess of $5,000, and 
on obligations of certain instrumentalities of the United States, is subject to surtax if the surtax net Income 
is over $4,000. (See items 5 and 25, Form lOiO, p. 206.) 

= See text, p. U. 

'' See footnote 7. p. 12. 

■ The number of returns is not available, since the amount of "other income" is secured by deducting the 
sum of specific sources of income from total income and the amotmt of "other deductions" is determined 
by subtracting the sum of specific deductions from total deductions. 

s See footnote 8, p. 12. 

' See footnote 9, p. 12. 

10 The number of returns with net income under $5,000 showing taxable interest received on partially 
.tax-exempt Government obligations is not available. 

» If two or more businesses in different industrial groups are reported on one return, each business is 
counted separately. Consequently, the number of businesses exceeds the niunber of returns reporting 
"business profit or loss. 

" Excludes number of returns with taxable interest received on partially tax-exempt Govenraient obli- 
gations. 

-' Includes taxable interest received on partially tax-exempt Government obligations. 

'* Tabulated with "taxable interest received on bank deposits, notes, mortgages, corporation bonds '' 

Individual returns 1 with net income, 1937, hy net income classes: percentage distri- 
bution of sources of income, deductions, and net income - 



Sources of income 



Net income classes 
(Thousands of dollars) 



Salaries, 
wages, 
commis- 
sions, fees, 
etc. 



Under 5 (estimated) 

Simder 10 

10 under 25 

25 under 50 

SOimder 100 

lOOtmder 150 

1.50 under 300 

300 under 500 

500 under 1,000 

1.000 and over 

Total 



73.58 

49.92 

38.36 

28.65 

22.08 

17.13 

12.31 

6. II 

3.48 

1.15 



Taxable interest 



Dividends 
from do- 
mestic and 
foreign cor- 
porations 5 



Bank 
deposits, 

notes, 
mortgages, 

corpora- 
tion bonds 



Partially | 
tax-exempt 1 

Govern- 
ment obli- 
gations < I 



Partner- 
ship 
profit 5 



5.23 
12.95 
23.22 
34.61 
44.02 
50.21 
55.56 
60.80 
68.36 
64.10 



»3.06 
4.03 
4.78 
4.43 
3.87 
3.22 
2.53 
2.18 
1.53 
2.37 



(;o) 



0..36 
.53 
-M 
.53 
.46 
.31 
-32 
.08 
.04 



.?.. So 



14.37 



3.53 



.20 



2.22 
7.48 
8.99 
9.33 
7.U 
6.76 
5.11 
2.97 
1.29 
1.16 



Income 
from 
fidu- 
ciaries ' 



0.90 
3.23 
5.77 
8.59 
10.63 
12.12 
14.60 
15.95 
20.44 
23.74 



4.65 



3.40 



For footnotes, see p. 16. 



16 



STATISTICS OF INCOME 



Individual returns^ tvith net income, 1937, by net income classes: percentage distri- 
bution of sources of income, deductions, and net income- — Continued 



Net income classes 
(Thousands of dollars) 


Sources of income— Continued 


Deductions 


Rents 

and 

royalties 


Business 
profit 


Net 
capital 
gain 6 


Other 
income 


Total 
income 


Partner- 
ship 

loss * 


Business 
loss 


Under 5 (estimated) 

5 under 10 


3.09 
3.64 
3.33 
2.84 
2.43 
2.29 
2.02 

.85 
1.68 

.35 


10.19 

15.26 

10.86 

6.48 

3.78 

2.74 

2.33 

2.32 

.76 

.02 


0.78 
2.28 
3.15 
3.49 
3.90 
4.39 
4.37 
7.54 
2.18 
6.50 


0.95 
.85 

1.01 
.94 
.82 
.68 
.86 
.30 
.20 
.57 


OOOOOOOOOO 
OOOOOOOOOO 


0.09 
.14 
.16 
.16 
.15 
.25 
.14 
.82 
.06 
.04 


0.31 
.41 


10 under 25 . 


.51 


25 under 50 


.61 


60 under 100- ..- 


.60 


100 under 150 


.53 


150 under 300... 


.74 


300 under 500 


1.35 


500 under 1,000 

1,000 and over 


.85 
.44 






Total... 


3.10 


10.20 


1.78 


.92 


100. 00 


.12 


.40 



Net income classes 
(Thousands of dollars) 




Deductions- 


—Continued 






Net 
capital 
loss 6 


Contri- 
butions 


Interest 
paid ^ 


Taxes 
paid' 


Other 
deduc- 
tions * 


Total 
deduc- 
tions 8 


Net 
income 


Under 5 (estimated) 


0.89 

1.65 

1.66 

1.25 

.83 

.53 

.34 

.16 

.10 

.04 


1.58 
1.67 
1.69 
2.00 
2.66 
3.42 
3.94 
4.71 
5.42 
7.37 


2.10 
2.88 
2.60 
2.23 
2.05 
2.00 
1.96 
2.11 
3.42 
1.47 


2.89 
3.67 
4.11 
4.36 
4.73 
5.19 
5.22 
5.80 
4.27 
4.06 


3.65 
4.07 
4.35 
4.84 
5.48 
4.85 
6.35 
6.13 
5.12 
4.24 


11.51 
14.39 
15.08 
15.45 
16.50 
16.77 
18.69 
21.08 
19.24 
17.66 


88. 49 


5 under 10 ... . .__ 


85.61 


10 under 25 


84.92 


25 under 50 


84. 55 


50 under 100 . 


83.50 


100 under 150.. ... ... 


83. 23 


150 under 300 


81.31 


300 under 500 


78.92 


500 under 1,000 


80. 7& 


1,000 and over 


82.34 






Total 


1.08 


1.80 


2.30 


3.42 


4.03 


13.15 


86. 85. 







' See footnote 1, p. 8. 

* For general explanatioas, see pp. 1-6. 
' See footnote 3, p. 12. 

* See footnote 4, p. 15. 
« See text, p. 11. 

s See footnote 7, p. 12. 
' See footnote 8, p. 12. 
' See footnote 9, p. 12. 

* See footnote 13, p. 15. 
'" See footnote 14, p. 15. 

FREQUENCY DISTRIBUTION OF SELECTED SOURCES OF INCOME AND LOSS BY NEl 
INCOME CL.^SSES AND BY SIZE OF EACH SOURCE OF INCOME AND LOSS 

For individual returns and taxable fiduciary returns with net income 
of $5,000 and over, there is shown in the following table the frequency 
distribution of selected sources of income and loss by net income classes 
and by size of each source of income and loss. 

Sources of income not included in this tabulation are interest 
received, partnership, fiduciary, rents and royalties, and other 
income. The frequency distribution of the source of income "rents 
and royalties," which appeared in this table in the Statistics of Income 
for 1935 and 1936, Part 1, has been discontinued. 



STATISTICS OF INCOME 



17 



Individual returns with net income of $5,000 and over, i 1937, by net income classes 
and by size of selected sources of income and loss: number of returns 

SALARIES AND WAGES 

[Net income classes and salary and wage classes in thousands of dollars] 





Salary and wage classes 


Net income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 2 


5 under 6 . -. 


123, 804 

76, 493 

49, 688 

34, 284 

25, 281 

71, 135 

28, 072 

14, 245 

8,735 

9,746 

5,046 

2,952 

1,830 

1,246 

809 

558 

1,348 

437 

202 

107 

103 

61 

52 

32 

29 


1,064 

681 

486 

401 

290 

849 

378 

237 

152 

177 

94 

51 

33 

31 

18 

19 

27 

7 

4 

4 

5 

1 

1 

4 

1 


851 

553 

388 

290 

222 

609 

312 

150 

87 

138 

61 

31 

31 

21 

9 

5 

24 

10 

1 

3 

1 


596 

421 

265 

229 

183 

515 

236 

124 

82 

99 

52 

26 

19 

22 

11 

9 

21 

5 

3 


547 

377 

287 

164 

166 

402 

197 

98 

67 

80 

44 

30 

27 

10 

9 

4 

20 
3 
3 
1 
2 
4 
1 


418 

306 

175 

147 

99 

332 

146 

70 

49 

62 

28 

20 

14 

6 

3 

7 

11 

7 

4 

1 


2,240 

1,336 

909 

683 

496 

1,329 

570 

305 

189 

211 

124 

99 

40 

36 

27 

9 

39 

12 

3 

3 

4 

4 

3 


5,038 
3,062 
1 869 


6 under 7 


7 under 8 


Sunder 9 . - 


1,237 
911 


9imder 10 


10 under 15 


2,448 
969 


15 under 20 


20 under 25 


438 


25 under 30.. 


300 


30 under 40 


319 


40 under 50 . . 


170 


sounder 60 . 


95 


60 under 70 . 


60 


70 under 80 . . ... 


42 


80 under 90 . 


19 


90 under 100. . .. 


16 


100 under 150 

150 under 200 

200 under 250... 

250 under 300 


52 
16 

8 


300 under 400 


2 


3 


400 under 500.. 


1 


o 


.500 under 750.. 


1 
1 
1 


2 


1 


750 under 1,000 


1 




1,000 and over 






2 


2- 












Total 


456, 295 


5, 015 


3,800 


2,922 


2,543 


1,907 


8,673 


17,082- 









Salary and wage classes— Continued 


Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 


5 under 6. 


5,770 

3,248 

1,961 

1,250 

904 

2,270 

822 

357 

232 

228 

108 

80 

38 

38 

18 

12 

22 

14 

7 

3 

3 

1 

1 


8,318 

4,277 

2,291 

1,435 

1,008 

2,291 

844 

381 

224 

244 

98 

48 

40 

32 

21 

8 

35 

6 

2 

3 

2 

1 

2 

1 

2 


13,847 

5,275 

2,535 

1,475 

961 

2,155 

725 

314 

171 

185 

88 

41 

28 

32 

21 

6 

20 

9 

2 


84, 288 

55, 752 

36, 570 

23, 077 

12,210 

20, 402 

4,509 

1,843 

1,034 

1,046 

469 

275 

132 

92 

73 

40 

99 

30 

8 

6 

8 

4 

6 


676 

1,036 

1,775 

3,654 

7,563 

30, 690 

6,703 

2,413 

1,260 

1,219 

529 

288 

167 

81 

55 

41 

107 

26 

10 

8 

10 

8 

4 

4 

2 


95 

112 

132 

167 

201 

6,292 

9,118 

2,746 

1,243 

1,170 

515 

238 

125 

121 

66 

31 

63 

20 

12 

4 

3 

4 

3 

1 

2 


31 

25 

25 

35 

40 

370 

2,191 

3,452 

1,201 

1,121 

463 

231 

133 

83 

47 

43 

75 

17 

8 

8 

4 

5 

2 


9 


6 under 7 . 


14 


7 under 8 . 


la 


8 under 9 . 


21 


9 under 10 . . ... 


15 


10 under 15 


84 


15 under 20 


238 


20 under 25 


1,114 


25 under 30 


1,631 


30 under 40 


1, 097 


40 under 50 


491 


50 under 60 . 


20? 


60 under 70 . . . 


13& 


70 under 80 . ... 


80 


sounder 90 


41 


90 under 100 


28 


100 under 1,50 

150 under 200.. 

200 under 250 

250 under 300 


60^ 
22 
14 


300 under 400 

400 under 500 _. 


2 


3 


500 under 750 . 




3 


750 under 1,000 


1 

1 


2 


1,000 and over 


1 




3 










Total . 


17,388 


21,614 


27, 894 


241,973 


58, 329 


22, 484 


9,610 


5,32r 







For fool notes, soe p. 26. 



IS 



STATISTICS OF INCOME 



Individual i-etiirns with net income of $5,000 and over,^ 1937, by net income classes 
and by size of selected sources of income and loss: number of returns — Con. 

SALARIES AND WAGES— Continued 

[Net income classes and salary and wage classes in thousands of dollars] 





Salary and wage classes— Continued 


Net income classes 


30 under 
40 


40 under 
50 


50 under 
75 


75 under 100 under 

100 } 250 


250 under 500 under 
500 ! 1,000 


1,000 and 
over 




9 

8 

6 

7 

8 

58 

77 

163 

754 

1.918 

748 

377 

233 

125 

73 

53 

130 

30 

17 

10 

5 

2 

4 

3 

4 


4 

7 

2 

5 

3 

19 

19 

16 

35 

368 

711 

312 

162 

96 

54 

48 

94 

27 

17 

6 

9 

4 

2 

1 


3 














3 












2 
4 










S under 9 




3 
1 
3 

4 

1 

1 

5 

5 

4 

4 

6 

15 

28 

177 

88 

32 

15 

16 

7 

4 

6 

5 








9 under 10 




1 








14 

10 

20 

21 

56 

233 

491 

357 

208 

124 

66 

172 

60 

25 

8 

10 

4 

9 

3 

2 


2 

4 

3 

2 

3 

15 

12 

52 

84 

105 

85 

100 

26 

19 

7 

5 

3 

2 

3 






15 under 20-. 








20 under 25 








25 under 30 








30 under 40 








40 under 50 








50 under 60 








CO under 70 








70 under 80 








sounder 90 








90 under 100 








100 under 150 








150 under 200 


2 
3 

5 
5 
4 

1 






200 under 250 






250 under 300.. 






300 under 400 

400 under ,'00 


1 




5(X) under 750 2 

750 under 1,000 


2 




1,000 and over - 


















Total 


4,822 


2.021 


1,902 


535 


430 


21 


3 





DR'IDENDS 2 
[Net income classes and dividend classes in thousands of dollars] 











Dividend classes 








Xet income classes 


Aggre- 
gate 


Under 
0.1 


0. 1 under 
0.2 


0.2 under 
0.3 


O.aunder 
0.4 


0.4 under 0.5 under 
0.5 1 


1 under 
2 


5 under 6 

6 under 7 


92,552 

60, 315 

46, 050 

34, 377 

28,175 

78. 949 

36.928 

20.102 

12,509 

14,344 

7,508 

4,517 

2,899 

1,901 

1,299 

918 

2,185 

749 

357 

198 

201 

100 

102 

53 

47 


20,311 

11, 155 

7,192 

5.091 

3.263 

7.299 

2.218 

921 

417 

419 

167 

90 

56 

29 

17 

14 

25 

8 

2 


11, 015 

6,205 

4,063 

2,741 

1,996 

4,618 

1,431 

603 

267 

284 

113 

61 

27 

24 

8 

8 

11 

3 


7,130 

4,380 

2,857 

1,983 

1,349 

3.422 

1,136 

454 

211 

243 

96 

40 

24 

16 

6 

1 

18 

2 

2 

1 


5,403 

3,375 

2,340 

1,505 

1,093 

2,808 

900 

383 

198 

187 

84 

36 

14 

14 

9 

1 

8 


4,249 

2,793 

1,881 

1,287 

959 

2,359 

760 

290 

173 

165 

77 

34 

15 

9 

8 

3 

6 

3 

2 


13, 181 

8,809 

6,305 

4,414 

3,256 

8.623 

3,020 

1,305 

659 

614 

234 

132 

64 

36 

26 

11 

38 

7 

2 


12, 395 
8,872 


7 nndpr S 


6,956 


8 imder 9. 


5, 143 


9 under 10 


3,946 


10 under 15 


10,623 


15 under 20 


3,983 
1,768 


20 under 25 


25 under 30 


949 


30 under 40 . . 


785 


40 under 50 


341 


50 under 60.. 


199 


60 under 70 


107 


70 under 80. . . 


62 


80 under 90. . _ 


31 


90 under 100 


18 


100 under 150 

iai under 200 


40 
11 


200 under 2.50 


3 

1 
1 


4 


250 under 300 




1 


300 under 400 


2 

1 


1 




3 

1 
1 


6 


400 under .=^00... 






1 


500 under 750... 








1 




750 under 1.000 












1.000 and over 












1 


2 
















Total 


447. 335 


58,697 


33,479 


23.371 


18,363 


15, 074 


50, 742 


56,243 





For footnotes, see p. 20. 



STATISTICS OF INCOME 



19 



Indwidual returns with net income of $5,000 and over,^1937, by net income classes 
and by size of selected sources of income and loss: number of returns — Con. 

DIVIDENDS 2— Continued 

[Net income classes and dividend classes in thousands of dollars] 









Dividend classes— Continued 






Net income pl;.sses 


2 under 
3 


3 under 4 under 
4 5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 


5 under 6 


5,693 

4,734 

3,877 

3,048 

2,477 

7.049 

2,818 

1,289 

721 

612 

295 

129 

85 

41 

24 

18 

40 

12 

4 

2 

2 

1 

1 


4,447 

2,916 

2,722 

2,082 

1.799 

5,394 

2,311 

1,079 

570 

563 

182 

114 

56 

37 

24 

19 

26 

8 

3 

2 

2 

1 


2,921 

1,961 

1,939 

1,534 

1,352 

4,287 

2,083 

888 

489 

489 

189 

107 

59 

26 

25 

14 

27 

8 

4 

1 

1 

1 


5,328 

4,688 

5,307 

4,719 

5,437 

13, 152 

7,311 

3,873 

2,061 

1,980 

803 

384 

206 

128 

75 

50 

96 

28 

17 

9 

6 

1 


276 

255 

423 

645 

1.028 

7,239 

4,381 

2,729 

1,679 

1,698 

674 

325 

187 

116 

65 

SO 

74 

19 

15 

1 

4 


84 

75 

92 

82 

HI 

1.491 

3,320 

1,921 

1,360 

1,492 

665 

283 

163 

82 

70 

36 

61 

17 

6 

4 

1 

1 


32 

24 

36 

35 

44 

274 

855 

1,681 

1,058 

1,300 

650 

329 

179 

68 

40 

35 

45 

'1 


28 


6 under 7 - ._ .. 


20 


7 under 8 . ... 


15 


8 under 9 


19 


9 under 10 


22 


10 under l.'i. . 


106 


15 under 20 


185 


20 under 25 


549 


25 under 30 


1,032 


30 under 40 


1,096 


40 under 50 


557 


50 under 60 


298 


60 under 70 

70 under 80 


148 

85 


80 under 90 


46 


90 under 100 


22 


100 under 150 

150 under 200 

200 under 250 

250 under 300 


60 
15 
5 
2 


300 under 400 


1 

1 
2 




400 under 500 




500 under 750 




1 


750 under 1,000 


1 






1 




1 


1,000 and over 
































Total 


32, 972 


24, 358 


18, 405 


55, 659 


21,884 


11,417 


6,709 


4,312 













Dividend classes— Continued 






Net income classes 


30 under 
40 


40 under 
50 


50 under 

75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1.000 


1,000 and 
over 


5 under 6 


31 

17 

20 

18 

18 

99 

106 

235 

534 

1,722 

1.025 

593 

299 

157 

102 

43 

122 

21 

12 

2 

1 


6 

11 

7 

13 

7 

34 

44 

55 

36 

486 

874 

494 

318 

170 

100 

59 

106 

27 

19 

8 

5 

1 


8 

12 

8 

9 

9 

32 

41 

55 

65 

143 

412 

763 

694 

483 

235 

173 

263 

59 

11 

10 

5 

2 

7 

1 

1 


7 

3 

3 

2 

4 

12 

9 

14 

13 

35 

42 

62 

147 

257 

272 

202 

366 

.54 

14 

2 

4 

2 


6 

9 

7 

6 

3 

23 

16 

8 

15 

26 

25 

39 

49 

58 

112 

137 

730 

406 

169 

61 

41 

18 

8 

5 

2 


1 

1 






6 under 7 






7 under 8 






8 under 9 


1 
2 
3 






9 under 10 






10 under 15 


2 




15 under 20 




20 under 25 


2 

2 

3 

2 

4 

2 

3 

4 

3 

23 

26 

53 

85 

106 

46 

8 

3 

6 






25 under 30 






30 under 40 


2 




40 under 50 . . 


1 


50 under 60.. . 


1 




60 under 70 




70 under 80 






80 under 90 






90 under 100 


1 




100 under 150 




150 under 200 


2 
3 
5 
8 
20 
70 
26 
5 




200 under 250 




250 under 300 

300 under 400 

400 under 500 


1 
1 
2 


500 under 750 


1 
1 
1 


2 


750 under 1,000 




1 


13 


1.000 and over 




29 










Total 


5,180 


2,880 


3,501 


1. .527 


1.979 


389 


145 


49 











For footnotes, see p. 26. 



20 



STATISTICS OF INCOME 



Individual returns with net income of $5,000 and over, ^1937, by net income classes 
and by size of selected sources of income and loss: number of returns — Con. 

BUSINESS PROFIT 

[Net income classes and business profit classes in thousands of dollars] 





Business profit classes 


Net income classes 


Agsre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 

1 


1 under 2 


Sunders 


39, 123 

25, 233 

16, 171 

11,038 

8,050 

19, 725 

7,182 

3,435 

1,8-13 

1,892 

828 

453 

245 

182 

97 

59 

149 

47 

16 

16 

12 

6 

2 

3 

1 


410 

272 

176 

132 

92 

256 

93 

52 

25 

24 

10 

7 

6 

3 

4 

2 

3 

2 


423 

254 

143 

116 

75 

181 

71 

37 

18 

25 

11 

6 

3 

2 

3 

2 

5 

1 

1 


325 

244 

142 

87 

79 

181 

59 

34 

14 

18 

9 

6 

3 

1 

2 

1 

2 

1 


335 

161 

125 

76 

64 

147 

53 

25 

9 

10 

9 

8 

1 

2 

1 

1 


316 

174 

132 

67 

60 

122 

54 

25 

9 

18 

5 

3 

4 

1 

2 


1,265 

775 

449 

339 

235 

534 

214 

105 

57 

59 

27 

16 

6 

4 

9 

2 

5 

2 

1 

1 


2,218 




1,384 


7 under 8 -. 


743 


8 under 9 .. -- 


468 


9 under 10 


338 


10 under 15. _. 

15 under 20 

20 under 25 


829 
289 
124 


25 under 30 


112 


30 under 40 


93 


40 under 50. ._ 

.50 under 60 


32 
22 


sounder 70 

70 under 80 


14 
12 


sounder 90. 


3 


90 under 100 


1 


100 under 150 


12 


150 under 200 

200 under 250 




1 


1 


250 under 300 












300 under 400 














400 under 500 








1 








.WO under 750 














750 under 1,000. 
















1 ,000 and over 
































Total 


135, 808 


1,569 


1,377 


1,208 


1,028 


993 


4,105 


6,695 









Business profit classes— Continued 


Net income classes 


2 under 3 


3 under 4 


4 under 5 


5 under 
10 


10 under 

15 


15 under 
20 


20 under 
25 


25 under 
30 


5 under 6 


2,413 

1,267 

685 

436 

285 

662 

212 

92 

40 

57 

34 

6 

9 

5 

7 

2 

6 


2,948 

1,342 

701 

457 

283 

565 

196 

97 

51 

51 

21 

9 

5 

4 

3 

5 

5 


4,692 

1,775 

848 

494 

290 

594 

149 

70 

45 

26 

15 

10 

3 

7 

1 


23. 467 

17,200 

11,524 

7,447 

4,360 

4, 160 

772 

320 

134 

346 

53 

39 

27 

10 

12 

3 

6 

2 

2 


229 

321 

427 

857 

1,789 

10, 084 

1,296 

329 

143 

111 

31 

20 

4 

5 

4 


49 

37 

50 

41 

62 

1,223 

3,077 

499 

158 

129 

29 

16 

9 

8 

2 


14 

13 

14 

8 

21 

110 

552 

1,254 

255 

142 

38 

16 

7 

9 

3 

1 

7 

2 


6 


6 under 7 


4 


7 under 8 


5 


8 under 9 


6 


9 under 10 


4 


10 under 15...^ 


29 


15 under 20 


58 


20 under 25 . 


296 


25 under 30 


561 


30 under 40 


199 


40 under 50 


41 


50 under 60. ... . 


16 


60 under 70 


14 


70 under 80 





80 under 90 


3 


sounder 100 


3 


100 under 150 

150 under 200 


3 


12 

1 
1 


4 
2 


2 


200 under 250 




1 
1 




250 under 300 










2 


300 under 400. 


1 
1 






1 


1 
1 
1 

1 


1 




400 under 500.. 










500 under 7,50 














750 under 1,000 
















1,000 and over 












1 




















Total 


6,227 


6,743 


9,024 


69, 684 


15, 665 


5. 399 


2,468 


1 251 







For footnotes, see p. 26. 



STATISTICS OF INCOME 



21 



Individual relurJis ivith net income of $5,000 and over,^1937, by net income classes 
and by size of selected sources of income and loss: number of returns — Con. 

BUSINESS PROFIT— Continued 

[Net income classes and business profit classes in thousands of dollars] 





Business profit classes— Continued 


Net income classes 


30 under 
40 


40 under 
50 


50 under 
75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 


5 under 6 


7 

5 

4 

2 

9 

23 

24 

52 

187 

676 

137 

37 

16 

9 

4 

1 

2 


2 

1 

1 

5 

2 

8 

6 

15 

14 

94 

266 

68 

18 

12 


2 
2 
2 


2 
2 










6 under 7 




















8 under 9 












9 under 10 


1 

12 
6 

7 

10 

12 

55 

146 

85 

58 

14 

6 

6 




1 
1 








10 under 15 


4 

1 

2 

1 

1 

4 

2 

11 

24 

20 

14 

10 

1 








15 under 20 








20 under 25 










25 under 30 










30 under 40 


1 
1 








40 under 50 








50 under 60 








CO under 70 










70 under 80 


4 
2 
6 
55 
24 
6 
3 
2 








80 under 90 








90 under 100 


7 
3 
1 








100 under 150 








150 under 200 








200 under 250 


1 
1 
1 


1 
1 


2 
3 
3 
2 






250 under 300 


2 


2 






300 under 400 


2 




400 under 500 






1 




500 under 750 








1 






750 under 1,000 










2 






1 000 and over 


































Total 


1,198 


525 


426 


102 


107 


12 


2 









BUSINESS LOSS 
[Net income classes and business loss classes in thousands of dollars] 





Business loss classes 


Net income classes 


Aggregate 


Under 0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 2 


5 under 6 


3,232 

2,215 

1,621 

1,281 

1,059 

3,301 

1,528 

995 

632 

852 

521 

334 

211 

127 

101 

76 

184 

89 

48 

22 

26 

10 

22 

19 

14 


328 

217 

135 

91 

73 

182 

101 

45 

18 

28 

19 

4 

3 

9 

3 


327 

187 

127 

103 

90 

205 

61 

44 

26 

30 

11 

8 

1 

3 

1 


267 

158 

127 

82 

70 

204 

77 

37 

23 

32 

19 

6 

3 

3 


222 

154 

98 

69 

56 

169 

54 

37 

16 

16 

12 

9 

8 

3 


209 
152 
78 
64 
52 
142 
57 
29 
28 
29 


695 

440 

328 

266 

165 

567 

243 

147 

84 

101 

56 

32 

20 

9 

14 

2 

12 

4 

5 

3 

1 


610 


6 under 7 


430 


7 under 8 


333 


8 under 9 


269 


9 under 10 


232 


10 under 15 


713 


15 under 20 


325 


20 under 25 


209 


25 under 30 


127 


sounder 40 . 


17C 


40 under 50 


84 


50 under 60 


11 
4 
2 


56 


60 under 70 


28 


70 under 80 


19 


80 under 90 


13 


90 under 100 


1 
5 
1 
1 

1 


1 


1 
7 


13 


100 under 150 


1 


4 

1 


19 


150 under 200 




9 


200 under 250 








2 


250 under 300 


1 
1 








4 


300 under 400 










400 under 500 












500 under 750 








1 








750 under 1,000 

1,000 and over 












1 






























Total 


18,520 


1,259 


1,229 


1,117 


925 


865 


3,194 


3,666 







For footnotes, see p. 26. 



22 



STATISTICS OF INCOME 



Individual returns with net income of $5,000 and over,^ 1937, by net income clai»ses 
and by size of selected sources of income and loss: number of returns — Con. 

BUSINESS LOSS— Continued 

[Net income classes and business loss classes in thousands of dollars] 



Net income classes 



Busiress loss classes— Continued 



2 under 3 



3 under 4 



4 under 5 



5 under 10 



10 under 
15 



15 under 
20 



20 under 
25 



25 under 
30 



5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

■40 under 50 

sounder 60 

fiO under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150... 
150 under 200.,. 
200 under 250... 
250 under 300... 
300 under 400... 
400 under 500... 
500 under 750... 
750 under 1,000. 
1,000 and over.. 



229 

199 

149 

138 

115 

388 

180 

124 

95 

98 

62 

36 

23 

20 

14 

13 

15 

f) 



130 

108 

78 

61 

49 

221 

127 

85 

57 

77 

46 

28 

15 

8 

5 

6 

19 

6 

4 



66 

57 

43 

36 

40 

136 

73 

64 

38 

58 

46 

28 

20 

7 

5 

4 

11 



6 

1 

3 



115 

84 

100 

73 

82 

256 

152 

106 

75 

124 

82 

57 

46 

20 

18 

17 

33 

17 

9 

4 

4 

4 

4 

3 

3 



Total. 



1,915 



1,134 



749 



426 



219 



101 





Business loss classes — (^ontinued 


Net income classes 


30 under 
40 


40 under 
50 


50 under 
75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 


5 under 6 . 


4 

1 
1 








1 








6 under 7... 














7 under 8 


1 

1 
3 

1 
2 


1 
2 












S under9... 












9 under 10 


K 
2 
6 
5 
6 
4 
6 
3 












10 under 15 ...:.. 


3" 
1 
1 
5 
4 
1 
3 
2 
2 


1 


2 








15 under 20 








20 under 25 




1 








25 under 30 .. 








30 under 40 ... 


1 
3 


3 








40 under 50 


1 
3 
2 

1 
3 
2 








50 under 60 


1 








60 under 70 










70 under SO 












80 under 90 


3 
3 

4 
8 
3 


1 










90 under 100 










100 under 150 


2 
2 
1 

1 


1 










150 under 200 


1 
1 








200 under 250 








250 under 3(K) 


1 






300 under 400 




2 

1 
2 
4 

1 


1 


J 




t 


400 under 500 










500 under 750.. 


1 
2 
2 


2 
3 
2 


1 


1 








750un<ler 1,000 








1,000 and over.. 




1 














Total . 


74 


32 


38 


10 


13 


1 




1 









For footnotes, see p. 26. 



STATISTICS OF INCOME 



23 



Individual returns ivith net income of $5,000 and over,^ 1937, by net income classes 
and by size of selected sources of income and loss: number of returns — Con. 

NET CAPITAL GAIN 3 

[Net income classes and net capital gain classes in thousands of dollars] 









Net capital 


gain classes 






Net income classes 


Aggre- 
gate 


Under 
0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


0.4 under 
0.5 


0.5 under 
1 


1 under 2 


5 under 6.-. 


22, 882 

18, 130 

12, 902 

9,382 

7,590 

22.811 

10,908 

6,336 

3,965 

4,632 

2,360 

1,523 

962 

643 

417 

297 

720 

241 

114 

73 

70 

34 

43 

15 

20 


4,973 

3,483 

2,507 

1,790 

1,371 

3,863 

1,674 

895 

533 

579 

265 

154 

98 

58 

44 

36 

75 

19 

14 

4 

6 

1 

7 


2,936 

2,113 

1,398 

987 

763 

2.201 

968 

499 

275 

311 

146 

79 

63 

33 

25 

14 

40 

9 


2,028 

1,430 

987 

701 

576 

1,613 

687 

374 

231 

241 

108 

59 

46 

37 

10 

15 

32 

8 

4 

1 

3 

1 

2 


1,620 

1,332 

767 

567 

485 

1,249 

553 

296 

161 

206 

116 

56 

30 

31 

11 

9 

20 

7 

4 

1 

1 

3 


1,292 

1,119 

652 

499 

392 

1,014 

474 

243 

125 

164 

89 

45 

30 

25 

15 

6 

15 

5 


3,732 

3,274 

1,982 

1,444 

1,137 

3,355 

1.496 

857 

540 

583 

273 

185 

106 

90 

32 

25 

76 

19 

16 

7 

7 


3,080 


6 under 7.-_ -.. 


2,397 
1,829 


7 under 8 


8 under 9.., 


1.314 


Sunder 10 


1,079 


10 under 15 - 


3 290 


15 under 20 

20 under 25 


1,511 
838 


25 under 30-. 


545 


30 under 40 , 


604 


40 under 50.- 


332 


50 under 60 


174 


60 under 70.- 


114 


70 under 80 


84 


80 undergo 


52 


90 under 100 


33 


100underl50 

150 under 200 

200 under 250 .- 


68 
28 
8 


250 under 300 


3 
3 
1 
-- 




9 


300 under 400 

400 under 500 


2 

1 


2 
1 


500 under 750 




10 


750 under 1,000- 






1 


1 


1,000 and over--- 


2 


1 






9 














Total 


127, 070 


22, 451 


12, 868 


9, 195 


7,525 


6,207 


19, 237 


17,405 









Net capital gain classes— Continued 


Net income classes 


2 under 3 


3 under 4 


4 imder 5 


5 under 
10 


10 under 
15 


15 under 
20 


20 under 
25 


25 under 
30 


5 under 6 


1,312 

1,115 

1,020 

649 

544 

1,655 

813 

485 

297 

357 

218 

114 

73 

37 

25 

24 

40 

15 

14 

5 

3 

1 

4 


719 

616 

610 

410 

3.53 

1,077 

539 

317 

197 

228 

102 

84 

45 

24 

15 

16 

38 

12 

6 

2 

6 

1 

.. 

1 


501 

430 

364 

270 

205 

739 

363 

214 

145 

153 

8S 

59 

40 

19 

11 

9 

18 

14 

.- 

3 
_. 

1 
1 


649 

777 

736 

686 

587 

1,778 

963 

617 

397 

450 

240 

169 

95 

54 

48 

31 

60 

31 

12 

7 

7 

5 

7 

2 

2 


28 

27 

36 

48 

82 

866 

563 

296 

195 

243 

111 

89 

52 

28 

35 

19 

32 

14 

4 


4 

10 

5 

10 

6 

68 

219 

165 

108 

148 

66 

39 

29 

15 

18 

6 

23 

9 

3 

2 
2 

1 


2 

5 

5 

5 

3 

19 

55 

180 

78 

103 

47 

45 

23 

19 

10 

21 
4 
3 
2 

1 


1 


6 under 7 . 




7 under 8 


2 


8 under 9.- . 




-9 under 10. 


4 


10 under 15 . 


9 


15 under 20.. 


9 


20 under 25.. . . 


31 


25 under 30.- . 


99 


30 under 40 


81 


40 under 50 


28 


50 under 60 


36 


60 under 70 . 


26 


70 under 80.. 


12 


80 under 90 . 


8 


90 under 100. 


8 


100 under 150 

150 under 200 

200 under 250 

2,50 under 300 . 


16 
4 
1 


300 under 400 

400 under 500 


4 

1 
1 


1 


.500 under 750 


1 
1 




750 under 1,000 


1 




1,000 and over 


1 


1 












Total 


8,821 


5,419 


3.652 8,410 


2.775 


957 


639 


376 







For footnotes, see p. 26. 



24 



STATISTICS OF INCOME 



Individual returns icilh net income of $5,000 and over, ^1937, by net income classes 
and by size of selected sources of income and loss: number of returns — Con. 

NET CAPITAL GAIN^— Ccntinued 

[Net income classes and net capital gain classes in thousands of dollars] 





Net capital gain classes— Continued 


Net income classes 


30 under 
40 


40 under 
50 


50 under 
75 


75 under 
100 


100 under 
250 


250 under 
500 


500 under 
1,000 


1,000 and 
over 




3 




2 
1 












6 under 7 






1 








7 under 8 


2 

1 

1 

8 

13 

19 

26 

154 

63 

47 

24 

21 

15 

12 

24 

5 

4 

1 

2 

1 

1 

2 












8 under 9 




1 

1 

2 

4 

1 

3 

10 

16 

48 

40 

32 

23 

7 

39 

8 

5 

3 

1 

1 












9 under 10 


1 

2 

3 

7 

9 

13 

50 

37 

20 

13 

3 

3 

14 

4 

3 

2 

2 

2 
















3 
1 
1 

1 
4 








15 under 20 










20 under 25 


1 








25 under 30 








30 under 40 










40 under 50 


2 

1 

5 

6 

17 

13 

24 

11 

2 








50 under 60 


1 
3 
5 


1 




1 


60 under 70 






70 under 80 








80 under 90 








90 under 100 


4 
44 
15 
10 
10 
6 
6 
6 
3 
2 








100 under 150 


1 






150 under 200 






200 under 250 


1 
7 
8 
6 

1 

3 






250 under 300 


3 




300 under 400 






400 under 600 


1 
1 






500 under 750 


1 




750 under 1,000 

1 000 and over 












1 




3. 














Total 


449 


188 


248 


85 


126 


29 


4 


4 







For footnotes, see p. 26. 



STATISTICS OF INCOME 



25 



Individual returns with net income of $5,000 and over, ^1937, by net income classes 
and by size of selected sources of income and loss: number of returns — Con. 

NET CAPITAL LOSS 3 

[Net income classes and net capital loss classes in thousands of dollars] 







Net capital loss classes 




Net income classes 


Aggre- 
gate 


Under 0.1 


0.1 under 
0.2 


0.2 under 
0.3 


0.3 under 
0.4 


5 under 6 . 


19, 865 

15, 192 

11,412 

9,016 

7,300 

23, 241 

12. 308 

7,242 

4,734 

5.718 

3,242 

1,963 

1,320 

900 

634 

459 

1,085 

396 

198 

102 

91 

57 

56 

33 

19 


3,210 

2,197 

1, 5U 

1,148 

817 

2,326 

1,048 

544 

362 

383 

197 

91 

64 

40 

38 

26 

51 

14 

8 

5 

2 

2 

2 

4 


2,289 

1,596 

1,026 

762 

550 

1,572 

672 

364 

199 

235 

116 

65 

42 

23 

20 

8 

26 

9 

3 

3 

3 

1 


1,700 

1,129 

871 

599 

431 

1,311 

585 

280 

172 

178 

86 

47 

28 

25 

15 

8 

29 

7 

8 

4 

4 

1 

1 


1 315 




942 
648 


7 under 8 .. 


Sunder 9 


508 


9 under 10 


410 


10 under 15 


1 058 


15 under 20 . ... . 


453 


20 under 25 


236 


25 under 30 


148 


30 under 40 .. 


139 


40 under 50. 


83 


50 under 60. 


53 


60 under 70 

70 under 80 


26 
16 


80 under 90- 


18 


90 under 100 . .. 




100 under 150 


21 


150 under 200 


14 


200 under 250 


3 


250 under 300 


1 


300 under 400 


3 


400 under 500 


1 


500 under 750 . . 


2 


750 under 1,000 




1 


1,000 and over.. 




1 












Total 


126, 583 


14, 090 


9,584 


7,520 


6,106 





For footnotes, see p. 26. 



26 



STATISTICS OF INCOME 



I tidividual leturns with net income of $5,000 and over,^ 1937, by net income classes 
and by size of selected sources of income ayid loss: number of returns — Con. 

XET CAPITAL LOSS 3— Continued 

[Net income classes and net capital loss classes in thousands of dollars] 



Xet income classes 



5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

sounder 60 

60 under 70 

70 under 80 

sounder 90 

sounder 100 

100 under 150... 
150 under 200... 
200 under 250.. 
250 under 300... 
300 under 400.. 
400 under 500... 
500 under 750... 
750 under 1,000_ 
1,000 and over.. 



Net capital loss classes— Continued 



Total 



0.4 under 
0.5 



1,034 

750 

536 

450 

336 

924 

408 

212 

145 

142 

77 

33 

16 

18 

14 

12 

16 

4 

4 

2 

1 



5, 141 



0.5 under 
1 



3. 502 
2.666 
1.917 
1,483 
1,217 
3,658 



•26 

915 

520 

,540 

322 

1S7 

114 

82 

50 

2S 

78 

35 

10 

4 

4 

4 

6 



19, 068 



1 under 2 



3.319 

2.809 

2,203 

1.789 

1, .536 

5,138 

2,885 

1, 659 

1. 106 

1.397 

756 

441 

325 

192 

130 

106 

222 

72 

47 

23 

24 

10 

■ 7 

2 

2 



26, 200 



2 under 3 3 under 4 



3. 452 

3, 068 

2.675 

2,245 

1.979 

7,172 

4.482 

2.991 

2,065 

2.675 

1,.594 

1,036 

702 

500 

349 

262 

641 

240 

114 

60 

,50 

36 

37 

26 

16 



38, 467 



1 

l" 
1 


1 
1 










1 


1 











1 Includes the following; returns with net income taxable to the fiduciary of «5,000nnd over: taxable returns. 
Form 1041, which correspond to taxable returns. Form 1040, for estates-and trusts filed for prior years, and 
taxable returns for estates and trusts filed on Form 1040 which should have been filed on Form 1041. 

» See footnote 3, p. 12. 

3 See footnote 7, p. 12. 

INDIVIDUAL INCOME TAX RETURNS (NOT INCLUDING FIDUCIARY 
INCOME TAX RETURNS) 

PROFIT .\ND LOSS FROM BUSINESS, BY INDUSTRIAL GROUPS, RETURNS, FORM 1040 
WITH NET INCOME OF $5,000 AND OVER 

The profit and loss from business (sole proprietorship) reported on 
returns, Form 1040, with net income of $5,000 and over, are classified 
in the following table according to nature of business. 

For businesses with information in schedule D, there are shown 
the number with profit and with loss, total receipts, labor and salaries, 
and amount of profit or loss. For businesses classified in the indus- 
trial group "Agriculture and related industries" these data are tabu- 
lated from Form 1040F (schedule of farm income and expenses), if 
submitted with individual income tax return. For businesses with- 
out information in schedule D, and for all businesses, there are pre- 
sented the total number with profit or with loss and the amount 
of profit or loss. 



STATISTICS OF INCOME 27 

In this table as well as in those showing sources of income and 
deductions "business profit" represents items of profit reported on 
the returns, as shown by the total receipts from business or profession, 
less cost of goods sold and other business deductions, such as salaries 
and wages (except compensation of the proprietor), interest on 
indebtedness, taxes on business or business property, losses from fire 
or storm, bad debts arising from sales, depreciation, obsolescence and 
depletion, rents, repairs and other expenses as provided in schedule 
D of the individual returns. Form 1040. "Business loss" represents 
items of loss from business which occur when allowable deductions 
exceed total receipts. In using the amounts of business profit and 
loss it must be remembered that the compensation of the proprietor, 
which is not allowed as a deduction, does not enter into the computa- 
tion of these two items. 

Basic table 8, pages 138-143, contains, for each industrial group, a 
frequency distribution of the number of businesses and the profit or 
loss from business by size of profit or loss. 

The following table and basic table 8 exclude (1) income from part- 
nerships reported in item 6 on face of return, Form 1040 (see p. 206), 
(2) salaries, wages, fees, commissions, etc., reported in item 1 on face 
of return, and (3) business profits and losses reported on individual 
returns with net income of less than $5,000. 

The number of businesses with profit or loss shown in the following 
table, basic table 8, the text table on pages 13-15 relating to sources 
of income and deductions and basic table 7 exceeds the number of 
returns reporting a business profit or loss because if two or more 
businesses in different industrial groups are reported on one return, 
each business is counted separately. 



186585 — 40- 



28 



STATISTICS OF I2s^C0MZ 



Individual return.s icith net income of $5,000 and over with business (sole proprietor 

businesses, total receipts, labor and salaries, profit or 

[Money figures in 



AD businesses 



Businesses vriihinfor- 
mation in schedule D ^ 



Indastrial groape 




Manafacniriiig: 

Food and kindml prodncts 

Liqnois and bevezages (alcoholic and non- 

alootHdic) 
Tobacco iKwdncts 
TextQes and their products 
Leather and its roHnufactares 

Rnbber products 

Forest prodncjs.. 

Paper, palp, and products 

Prmting. paM feh ing, and allied indostri^ 
Chemicals and slliei^ products 

Stone, day, and class prodw^s 

Metal and its products 

Manniactnring not elsewhere dassified 



Total manafacluring. 



Consiruetioa 

Transportation and other public utilities. 

Trade: 

BetaiL. 

Wholesale 

Wholesale and retail 



Total trade 54.761 



Kl. 17S 1.S02 3.731 32,539 3.515.976 



aervioe: 

Domestic — Laur 

rants, etc 

Amusements 

CuraiiTe Cmedic: 

EdurationaL- 

Ensineeriiig 

L<9^--- 

An otho- 



4.143 
1.901 

30l129 
2.000 
2.223 

12.9a 
5.302 



27. lOO 
17.275 

243.996 
17.973 
18.137 

U1,1S3 
4a 991 



3» 
379 
610 
297 
305 
673 
246 



2.172 
755 
315 
572 

7^ 
■172 



3. 930 
1.730 

28,357 
1,842 
2,040 

11,465 
4.911 



300. ■ 

41^ . 

4o. 
163. 
134., 



Total service- 



Finance: 

InT^tment brokers. 

Real estate 

Another 



Total finance 



Natare of business not given. 

Grand total 1937 

1936 

1935 

isa* 

1933 

19S2. 

1931 

1930 

1929 

IV2S 



55.521 


476.710 


Z8e 


5.S96 i 


54.265 


1,075,519 


5719 
2.153 
5.117 


6.017 
14.018 
39.475 


129 
431 1 
325 1 


S30 
1.333 
1.404 


526 
1.976 
4.604 


94.916 
35.431 
122,773 


7.S7S 


59.511 


SSo 


3.567 ' 


7.106 


253.121 


5.165 


^704 


L627 


4.05S 


3.260 


193. 199 



13^xS05 
132. ol9 

S5'.n4 
75.sSy 



-in 



X- 



15i 

22k 4:^ 
•231159 



L 052. S7.5 

1. 021. 60? 

6S7.467 

568.689 



.K5 



15,530 
1.5. 7W 
11,323 
9.963 
7.9n:i 



54.6S1 
4o. 125 
33.713 
29.753 
36.791 



123.154 
115. 114 
75.511 
64.603 
43,127 



6.54: 
6.107. 
3.813. :- 
3.222.239 
2,414,325 



•For tiae indoa nal g roqp "Agricoltore and related industries" data are tabulated from Form IWOF 
(scnednlecf farm inoRne and e3cpenses), if sabmitted with individual income tax returns. 
*Seefootnotell. p. 15. 



STATISTICS or IXCOME 



29 



ship), 1937, by industrial groups and by businesses icith profit or loss: number of 
loss; also grand totals for certain items for prior years 

thousands of dollars] 



Easinesses with information 


in schedule D i— Con 


tinned 


Businesses without information in 
schedule D 


Profit 




Loss 




Nambcr 
with 

profit 2 


Profit 


Ntnnber 

with 
loss 2 




Labor 

and 
salaries ' 


Profit 


Xnmber * 


Total 

receipts 


Labor 

and 
salaries » 


Loss 


Loss 


38,081 
7,222 


64,835 
15,651 


9,000 
273 


48,867 
3,853 


19,136 
1,014 


30,729 
2,405 


1,983 
334 


6,365 i 1,172 
2,471 ' 68 


1,841 
104 


23,412 

4,060 

413 

36,922 

2,252 

689 

11,377 

1,830 
13,893 

3,749 

5,193 
26,584 
23,319 


12,276 

4,406 

258 

8,664 

858 

310 

5,311 

888 

7,910 

2.659 

2,991 

15,259 

11,536 


59 

14 

4 
27 

8 

3 
39 

6 
87 
34 
14 
53 
78 


4,259 

179 
308 

4,820 
662 
105 

1,734 
57 

2,121 
425 
371 

1,233 

1,922 


543 

39 
130 
1,000 
116 
3 
265 

21 
518 
119 
172 
5S2 
543 


121 

22 
10 
93 
11 
6 

108 
3 

279 
68 
47 

ISO 

m 


117 

36 
3 

60 
7 

1 
51 

3 
7S 
16 
23 
100 
76 


368 

139 
33 

305 
75 

I 

204 

12 

* 81 
169 


8 
2 



2 


6 


18 


2 

4 
2 
12 


1 

10 

3 

109 


::::::::::::::::::: 


- 627 
439 


8 

IS 


5 
41 


153,693 


73.325 


426 


18.194 


4,053 


LlSfi 


571 


2.S« 62 


198 


96,323 
21.984 


44,561 
13, S71 


163 
143 


4.S04 
2.190 


l,0«r2 
47S 


lS-2 
372 


3-S2 
199 


1,976 33 
S34 IS 


57 
44 



219,945 
44.218 
10, 115 



203.596 

41. §72 
7,531 



274,278 252,999 



1,440 

166 

19 



49, 015 

15,504 
2.698 



1, 625 67, 216 



5,897 
820 
164 



6,880 



2,921 

563 

4S 



3.532 



1,S54 

323 

45 



6.617 

1.441 

121 



2,222 



8.179 



146 

29 
2 



46,260 
14,227 
51,923 
9,446 
12,535 
24.56S 
27.9S7 



26,373 
16,294 

236,866 
17, 151 
17,380 

103.499 
39. 714 



310 
332 
550 
243 
214 
571 



5,940 
3,191 
2,830 
401 
1,134 
1,149 
1,252 



1,690 
1,117 
1,179 
170 
536 
704 
410 



772 
1,952 

652 
265 
473 
680 
387 



213 
181 

1,772 
158 
183 

1,458 
291 



783 
962 

7,130 

822 

756 

7,683 

1,276 



838,427 
757,732 
4&4,470 
456.334 
359,363 



1.005,221 
916,930 
583, -203 
499,700 
347,615 



15,414 
12,879 
8,726 
7.944 
6,374 



189.126 
156,087 
95. 745 
99.985 
111, 4S9 



41,502 
35,438 
21,742 
26,337 
22,223 



49.266 
3S,7S4 
22,098 
20.927 
22,248 



12,624 
17.405 
14.2Ce 
9,286 
^613 



57.6.>4 
104.678 
104.264 
68,969 
46,200 



2S 
47 
60 
54 
91 
102 
52 



3.106 
2.881 
Z597 
2.025 
1,596 



49 
220 
103 

50 

99 
108 

85 



1S6.946 


457. 27S 


2. 414 


15. S&o 


5.W7 


5.181 


4.2.30 


19.433 


434 


715 


2.1^ 
6,051 

23,482 


5,628 
13.150 
37,065 


99 
350 
257 


11,632 
2.510 1 
7,244 


279 

684 
651 


771 1 
1,124 1 
1,237! 


53 

206 
513 


390 

869 
2,410 


30 
81 

68 


59 
209 

167 


31.6S2 


55.843 


706 


21,386 


1,614 


3,133 


772 


3.66S 


179 


435 


28.219 


26.S59 


6W 


6. 719 


1,725 


2,246 


L9C5 


il. S44 


963 


1.822 



5,415 
6.340 
11.615 
S.826 
4.543 



' AH salaries and wages paid except compensation of the proprietor which is nor alIowe.i as a deduction in 
computing business profit or loss (see si)ecifie instruction 9, Form 1040, p. 211 ) . 



30 



STATISTICS OF INCOME 



RETURNS, FORM 1040, WITH NO NET INCOME 

The preceding text tables and basic tables 1-9 and 12-15 do not 
include data from individual returns with no net income. Such 
returns, in most instances, are filed in accordance with certain stat- 
utory requirements stated on page 2. Tabulations prepared from 
these returns by deficit classes and by sources of income and deduc- 
tions are shown below. For the first time returns with zero net 
income (total income equals total deductions) are tabulated and 
included in deficit class "Under $5,000." The distribution of the 
returns by States and Territories, and a more detailed tabulation of 
the sources of income and deductions, by deficit classes are shown in 
basic tables 10 and 11, pages 169-170. 

Individual returns, Form IO4O, with no net income, 1937, by deficit classes: number 
of returns, deficit, and totals for 1933-1937 

[Deficit classes'and money figures in thousands of dollars] 



Deficit classes 


Number of 
returns 


Defieit 


Under 5' --- 


73, 204 

5,804 

3,251 

1,003 

389 

107 

100 

27 

9 

10 


89, 073 




40, 640 




49, 546 


25 under 50 -- --- 


34, 880 


50 under 100 - - 


27, 055 


100 under 150 - --- --- 


13,019 


150under300 --- 


19,852 


300 under 500 .- - --- 


10, 362 


SCO under 1.000 - . - - 


5,729 


1,000 and over - - ._- . _.. 


18, 361 








Total 1937 > 


83. 904 
73, 272 
94, 609 
104, 170 
168, 449 


308, 518 


1936 


286, C32 


1935 


381, 353 


1934 - 


412, 859 


1933 


1, 141, 331 







1 Includes returns with zero net income (total income equals total deductions, items 12 and 19, respectively, 
on page 1 of Form 1040, p. 206). 

Individual returns. Form IO4O, with no net income, 1937: sources of income and 

deductions, and deficit ' 



Sources of income and deductions 


Amount 
(thou- 
sands of 
dollars) 


Sources of income and deductions 


Amount 
(thou- 
sands of 
dollars) 


Sources of income: 

Salaries, wages, commissions, fees, 


57,386 
60, 440 

21, 343 

1,563 
10, 885 
10, 295 
40, 146 
23, 421 
16, 947 

7,968 


Deductions: 

Partnership loss * 

Business loss 


40, 034 
124, 159 


Dividends from domestic and for- 


Net capital loss ' -.-... 


28,695 




Contributions 

Interest paid •* 


4,919 




44, 601 


Bank deposits, notes, mortgages. 


Taxes paid '' .. -. . . 


37, 618 




other deductions. 


278, 886 


Partially tax-exempt Govern- 


Total deductions 




558, 912 




Deficit - 




Income from fiduciaries * 


308, 518 


Rents and royalties .- 










Net capital gain '.. 




other income 










250. 394 









> For general explanations, see pp. 1-6. 
' See footnote 3, p. 12. 

' Interest received on United States savings bonds and Treasury bonds, owned in excess of $i,000, and 
on obligations of certain instrumentalities of the United States. (See items. 5 and 25, Form 1040, p. 206). 

* See text, p. 11. 

• See footnote 7, p. 12, 
« See footnote 8, p. 12. 



STATISTICS OF INCOME 31 

NUMBER OF RETURNS BY COUNTIES, CITIES, AND TOWNS 

The statistics showing the number of individual income tax returns 
for 1937 by counties, cities, and towns having a population of 1,000 
and over, have been issued in a separate mimeographed bulletin 
entitled "Individual Income Tax Returns for 1937 — Number of 
Returns by States, by Counties, and by Cities and Towns." Copies 
may be secured from the Bureau of Internal Revenue, Washington, 
D. C, upon request. Information concerning net income and tax 
hability on individual income tax returns is not tabulated for smaller 
civil divisions than States and Territories. 

FIDUCIARY INCOME TAX RETURNS 

This year, for the first time, basic tables 12 and 13 on pages 173-178 
present sources of income and deductions reported on fiduciary income 
tax returns for estates and trusts. Information is tabulated for all 
1937 returns. Form 1041, which are required to be filed, whether or 
not the income is taxable to the fiduciary (requirements for filing are 
given in General Instruction (A), Form 1041, p. 216). For prior 
years, individual income tax returns, Form 1040, were required to 
be filed for incomes for estates or trusts which were taxable to the 
fiduciary; therefore, returns Form 1040 for estates and trusts 
were the only ones from which data were tabulated. In order 
to present a complete tabulation of data from all 1937 returns for 
estates and trusts, there is included in basic table 12 a classification 
entitled "Net incomes for estates and trusts filed on Form 1040." 

"Balance income" before distribution to the beneficiaries (item 15, 
face of return, Form 1041, p. 214) means the amount of gross income 
as defined in the revenue acts effective for the year in which the returns 
are filed, in excess of allowable deductions. "Balance deficit" means 
excess of deductions over gross income. The amount of personal 
exemption is not included in deductions. Balance income includes 
gain or loss from the sale of capital assets to the extent provided under 
the Revenue Act of 1936. The size classification in basic tables 12 
and 13 is based on "balance income" and "balance deficit." 

"Net income taxable to fiduciary" (item 17, face of return. Form 
1041, p. 214) means the "balance income" as defined above less the 
amount distributable to beneficiaries. On returns with a "balance 
deficit" there is no amount distributable to beneficiaries, and item 
17, face of return, Form 1041, is a "deficit" instead of a net income 
taxable to the fiduciary. For statement regarding requirements for 
filing fiduciary returns with no net income, see text, page 2. 

Net income subject to surtax means the excess of net income over 
personal exemption. Net income subject to normal tax is equal to 
the surtax net income less the fiduciary's balance of interest received 
on Government obligations not wholly exempt from tax. 

Fiduciary returns for estates and trusts number 182,973, of which 
75,284 show net income taxable to the fiduciary and 107,689 show no 
net income taxable to the fiduciary. Of the 75,284 returns with net 
income, 44,531 are taxable and 30,753 nontaxable. Aggregate net 
income taxable to the fiduciary is $306,272,519, of which $294,990,018 
is reported on taxable returns and $11,282,501 on nontaxable returns. 
The total tax liability reported on taxable returns is $48,405,550. 
Most of the tables in this report relating to individual income tax 



32 STATISTICS OF INCOME 

returns with net income also include data for the 44,531 taxable 
returns for estates and trusts (including 8,463 taxable returns filed on 
Form 1040) and for the 3,784 nontaxable returns for estates and trusts 
filed on Form 1040. 

In basic table 12 on pages 173-175 there are tabulated, for the 75,284 
fiduciary returns with net income taxable to the fiduciary, the number 
of returns, sources of income and deductions, balance income, amount 
distributable to beneficiaries, net income taxable to fiduciary, personal 
exemption, normal tax, surtax, and total tax. Each of these items is 
classified by the size of balance income before distribution to bene- 
ficiaries (item 15, face of return, Form 1041, p. 214). It was possible 
to classify by size of balance income all fiduciary incomes filed on 
Form 1041. Those filed on Form 1040 could not be so classified. 
Attention is called to the fact that the sources of income and deduc- 
tions for the 44,531 taxable returns for estates and trusts (including 
8,463 taxable returns filed on Form 1040) and for the 3,784 non- 
taxable returns for estates and trusts filed on Form 1040 in basic 
table 12 are included in the text tables on pages 12-16 and in basic 
table 7, pages 133-137, where such returns are classified by size of net 
income taxable to the fiduciary (item 17, face of return, Form 1041, 
p. 214). 

In basic table 13 on pages 176-178 there are tabulated, for the 107,689 
fiduciary returns with no net income taxable to the fiduciary, the 
number of returns, sources of income and deductions, balance deficit 
or income, amount distributable to beneficiaries, and deficit. The 
following returns are included in this table: 10,213 returns with no 
net income taxable to the fiduciary showing a "deficit" of $38,144,793 
(item 17, face of return, Form 1041, p. 214), classified by size of 
balance deficit; 97,296 returns with zero net income taxable to the 
fiduciary (balance income equals amount distributable to the bene- 
ficiaries, items 15 and 16, respectively, face of return. Form 1041, 
p. 214), classified by size of balance income; and 180 returns with 
zero balance income (total income is equal to total deductions, items 
10 and 14, respectively, face of return, Form 1041, p. 214). 

WHOLLY AND PARTIALLY TAX-EXEMPT GOVERNMENT OBLIGA- 
TIONS—AMOUNT OWNED AND INTEREST RECEIVED 

Wholly tax-exempt obligations consist of securities the interest on 
which is wholly exempt from the normal tax and surtax of the Federal 
Government. Partially tax-exempt obligations comprise securities 
the interest on which is exempt from the normal tax of the Federal 
Government and certain issues on wliich the interest on the principal 
amount up to $5,000 is also exempt from surtax. During the calendar 
year 1937, the wholly tax-exempt obligations required to be reported 
on the returns consisted of (1) obligations of the Federal Government: 
bonds issued on or before September 1, 1917, Treasury bills, Treasury 
certificates of indebtedness. Treasury notes, securities issued under the 
Federal Farm Loan Act, or such act as amended, (2) obligations of a 
State, Territory, or political subdivision thereof, or the District of 
Columbia, and (3) obligations of United States possessions. Partially 
tax-exempt obligations were United States savings bonds, Treasury 
bonds, and obligations of instrumentalities of the United States other 



STATISTICS OF INCOME 33 

than obligations issued under Federal Farm Loan Act, or such act as 
amended. 

Basic table 14, for individual returns with net income of $5,000 and 
over, including fiduciary returns with net income taxable to the 
fiduciary of $5,000 and over, shows the amounts reported as wholly 
and partially tax-exempt obhgations owned as of the end of the year, 
and the total wholly and partially tax-exempt interest received or 
accrued during the year, segregated by nature of obhgations and by 
net income classes. The table fails to present an accurate summary of 
either the bond holdings or interest received because of an indefinite 
amount of understatement and duplication which is described below. 

Bond holdings may vary materially during the year, therefore the 
amount of bonds reported as of the end of the year may include bonds 
on wliich no interest was received, and, vice versa, the interest reported 
may include interest on bonds which have been sold prior to the end of 
the year. 

Schedule B, Forms 1040 and 1041, from which this table is prepared, 
is an informational schedule. Frequently, neither the principal 
amount owned nor the interest received is reported, the interest may 
be reported for which no corresponding principal amount is shown, or 
the interest in excess of exemption in schedule B may not correspond 
to the taxable interest reported for tax computation. Moreover, on 
returns Form 1040 for members of partnerships or beneficiaries of 
estates or trusts, each partner or beneficiary is required to include his 
'pro rata share of the taxable interest received through these entities 
in item 5, "Taxable interest on Government obligations," on page 1 of 
the return and in schedule B. However, in many cases, this pro rata 
share is not reported on schedule B. 

Duplication is especially important for the taxable interest received 
on Government obligations reported on the individual returns with 
net income of $5,000 and over filed by beneficiaries of an estate or trust 
which has net income taxable to the fiduciary of $5,000 and over. 
The duphcation occurs on returns, Form 1040, on which the beneficiary's 
share of the taxable interest received is reported in schedule B and on 
returns. Form 1041, on which schedule B is filled in completely. 
However, because of the inadequate reporting of these data on both 
Forms 1040 and 1041, as stated above, the extent of this duphcation is 
not known. 

Basic table 15, for the fiduciary returns with balance income of 
$5,000 and over before distribution to beneficiaries, shows the araoimt 
of wholly and partially tax-exempt Government obligations owned at 
the end of the year and the wholly and partially tax-exempt interest 
received or accrued during the year, segregated by nature of obligation 
and by size of balance income (item 15, face of return. Form 1041, 
p. 214). Part I of this table contains the taxable fiduciary returns 
and Part II the nontaxable fiduciary returns. For the definition of 
balance income used in this table, see page 31 in section of this report 
entitled "Fiduciary Income Tax Returns." It was possible to 
classify by size of balance income all returns for estates and trusts with 
balance income of $5,000 and over, except those filed on return Form 
1040 instead of on the proper 1937 return Form 1041. These returns, 



34 



STATISTICS OF INCOME 



Form 1040, with income taxable to the fiduciary of $5,000 and over, 
are included in basic table 15 and are shown in a separate classification. 
Data for the taxable returns, Form 1041, with balance income of 
$5,000 and over in Part I of basic table 15 which also have income 
taxable to the fiduciary of $5,000 and over, are included in basic table 
14, pages 181-182, where such returns are classified by size of net 
income taxable to the fiduciary. 

PARTNERSHIP RETURNS OF INCOME 

Partnerships returns, except for the war excess-profits tax of 1917, 
are not subject to direct assessment. The partnership net income, 
whether distributed or not, or the net loss, is reported on the individual 
returns of the copartners according to their shares. A partnership 
return of income (Form 1065, pp. 218-221) is, however, required to be 
filed. 

The number of partnership returns filed for 1917 through 1937 is as 
follows: 



Year : Number 

1917 31,701 

1918 100,728 

1919 175,898 

1920 240,767 

1921 259,359 

1922 287,959 

1923 304,996 

1924 321,158 

1925.'_ 309,414 

1926 295,425 

1927 282,841 



Year : Number 

1928 272,127 

1929 263,519 

1930 244,670 

1931 230,407 

1932 216,712 

1933 214,881 

1934 221,740 

1935 222,293 

1936 237,367 

1937 261,470 



HISTORICAL SUMMARIES— INDIVIDUAL INCOME TAX RETURNS 
WITH NET INCOME, 1913-1937 (INCLUDING TAXABLE FIDUCIARY 
INCOME TAX RETURNS, 1937) 

A resume of the individual income tax returns with net income for 
each of the years since the inception of the present period of income 
taxation, showing number of returns, net income and tax, by net 
income classes, and sources of income and deductions, is presented in 
the following tables. 

Summary figures for individual returns with net income by States 
and Territories for the years 1927 through 1937, showing number, net 
income, and tax, are tabulated as a section of basic table 9, pages 
144-168. In basic table 9, the $500 class intervals for returns with 
net income of $1,000 and imder $5,000, which appeared in basic 
table 9 in the Statistics of Income for 1934, 1935, and 1936, Part 1, 
have been replaced for 1937 by $1,000 class intervals with the excep- 
tion of the net income classes $2,000 under $2,500 and $2,500 under 
$3,000. 



STATISTICS OF INCOME 



35 



Individual returns with net income, 1918-37: number of returns, net income, tax 
before credits, tax credits, and tax ^ 

[Money figures in thousands of dollars] 





Number of returns 




Year 


Total 


Taxable 


Nontaxable 


Percent of total 


Net income 




Tax- 
able 


Non- 
taxable 




1913- 


357, 598 
357, 515 
336, 652 
437, 036 

3, 472, 890 
4, 425, 114 

5, 332, 760 
7, 259, 944 

6, 662, 176 
6. 787, 481 

7, 698, 321 
7, 369, 788 
4, 171, 051 
4, 138, 092 
4, 101, 547 
4, 070, 851 

4, 044, 327 
3, 707, 509 
3, 225, 924 
3, 877, 430 

3, 723, 558 

4, 09i 420 

4, 575, 012 

5, 413. 499 

6, 350, 148 










3, 900, 000 


1914 










4, 000, 000 


1915 










4, 600, 000 


1916. 


362, 970 

2, 707, 234 
3, 392, 863 

4, 231, 181 

5, 518, 310 

3, 589, 985 

3, 681, 249 

4, 270, 121 
4, 489, 698 
2, 501, 166 
2, 470, 990 
2, 440, 941 
2, 523, 063 
2, 458, 049 
2, 037, 645 
1, 525, 546 
1, 936, 095 
1, 747, 740 
1, 795, 920 
2, 110, 890 
2,861,108 
3, 371, 443 


74, 066 
765, 656 
1, 032, 251 
1, 101, 579 
1, 741, 634 
3, 072, 191 
3, 106, 232 
3, 428, 200 
2, 880, 090 
1, 669, 885 
1, 667, 102 
1, 660, 606 
1, 547, 788 
1, 586, 278 
1, 669, 864 

1, 700, 378 
1, 941, 335 
1, 975, 818 

2, 298, 500 
2, 464, 122 
2, 552, 391 
2, 978, 705 


83 
78 
77 
79 
76 
54 
54 
55 
61 
60 
60 
59 
61 
61 
65 
47 
50 
47 
44 
46 
53 
53 


17 
22 
23 
21 
24 
46 
46 
45 
39 
40 
40 
41 
39 
39 
45 
53 
50 
53 
56 
54 
47 
47 


6, 298, 578 


1917 


13, 652, 383 


1918- 


15, 924, 639 


1919 


19, 859, 491 


1920 


23, 735, 629 


1921 


19, 577, 213 


1922 


21, 336, 213 


1923*- 


24, 777, 466 


1924 


25, 656, 153 


1925 


21, 894, 576 


1926— 


21, 958, 506 


1927 


22, 545, 091 


1928 


25, 226, 327 


1929 


24, 800, 736 


1930- 


18, 118, 635 


1931 


13, 604, 996 


1932 


8 11,655,909 


1933 


11, 008, 638 


1934 - 


12, 796, 802 


1935 


14, 909, 812 


1936 - 


19, 240, 110 


1937 9 - 


21, 238, 574 







1 Changes in the revenue acts affecting the comparability of statistical data from income tax returns of 
individuals are summarized on pp. 188-195. Returns for 1913 pertain to the last 10 months of that year; 
taxes shown for 1913 to 1915, inclusive, are receipts for fiscal year ended June 30, immediately following, as 
shown in annual reports of Commissioner of Internal Revenue, which receipts include fines, penalties, addi- 
tional assessments, etc.; tax for 1916 and subsequent years is tax liability reported on returns. 

* Revised figures. (See Statistics of Income for 1925, pp. 28-29.) 

8 Revised. (See Statistics of Income for 1935, Part 1, p. 31, footnote 6.) 

» Includes data for 36,068 taxable returns. Form 1041, which correspond to taxable returns, Form 1040, for 
estates and trusts filed for prior years, and data for 8,463 taxable returns and 3,784 nontaxable returns for 
estates and trusts filed on Form 1040 which should have been filed on Form 1041. 



36 



STATISTICS OF INCOME 



Individual returns u^ith n^t in-come, 191S-37: number of returns, net income, tax be- 
fore credits, tax credits, and tax ^ — Continued 

[Money figures in thousands of dollars] 







Tax before tax credits 




rax credits 






Year 


Normal 
tax 


Sartai 


Tax on 
capital 
net gain, 
12J^ per- 
cent 


Total 


25 per- 
cent of 
tax on 
earned 
net in- 
come > 


12^2 per- 
cent on 
capital 
net loss 
from sale 
of assets 
held 
more 
than 2 
years 


Total 


Taxi 


1913 


12.729 
16.559 
23.996 
51,441 
156,897 
476,433 
468.105 
478.250 
308.059 
355.410 
53:^,388 
257. 795 
216.360 
200.599 
215, 817 
281,895 
162. 332 
129. 475 
82.302 
156.606 
164.277 
123. 261 
152. 514 
330. 197 
334.550 


15.525 
24.487 
43.948 
121,946 
433,346 
651.289 
801. 525 
596.804 
411. 327 
474. 581 
5 464,918 
437.541 
482.853 
448,330 
511,731 
688,825 
582,393 
316. 816 
186. 078 
239.232 
244.307 
3SS.139 
504.625 
SS3.820 
807,019 




28,254 

41,046 

67.944 

173,387 

» 795. 381 

1. 127. 722 

1.269,630 

1. 075. 054 

719.387 

861. 057 

5 882.222 

743. 939 

766.784 

761.440 

861,582 

1.204,170 

1,029,379 

511. n3 

287.803 

401. 877 

425,019 

511.400 

657.439 

1.214.017 

1. 141, 569 








28,254 


1914 










41,046 


1915 










67,944 


1916 










173.387 


1917 










s 795. 381 


1918 










1, 127, 722 


1919 










1. 269, 630 


1920 










1. 075, 054 


1921 










719, 387 


19^ 


31.066 
5 38,916 

48.603 
117. 571 
112.510 
134.034 
233.451 
284.654 

65,422 

19.423 
6,039 

16,435 








861. 057 


1923 






« 220, 555 
39.673 
32.229 
28.969 
30,943 
39,916 
27,441 
34,998 
41,676 
71,915 
50,899 


"661.665 


1924 . - -- 


30,637 
24,570 
24,647 
24,915 
34,790 
22,062 
24,886 
17,491 


9,036 

7,659 

4.322 

6,028 

5.126 

5.378 

10, 112 

24,185 

n.915 

50,899 


704.265 


1925 - . 


734.555 


1926 


732. 475 


1927 


830.639 


1928 - — 


1. 164, 254 


1929 . - 


1, 001, 938 


1930 . 


476. 715 


1931 


246,127 


1932 


329,962 


1933 




374. 120 


1934 




511.400 


1935 










657.439 


1936 










1. 214. 017 


1937' -. 










1, 141. 569 













1 See footnote l. p. 35. 

5 See limit of credit, p. 195. 

5 Includes war excess-profits taxes of $101,249,781 on individuals and of $103,887,984 on partnerships. 

5 Revised figures. (See Statistics of Income for 1925. pp. 28-29.) Amounts are before 25 percent reduction 
provided by sec. 1200(3l. Revenue Act of 1924. 

' The amount of the 25 percent reduction provided by sec. 1200(a), Revenue Act of 1924. 

' After deduction of 25 percent reduction provided by sec. 1200(a), Revenue Act of 1924. 

' Includes data for 36.068 taxable returns. Form 1041, which correspond to taxable returns. Form 1040, for 
estates and trasts filed for prior years, and data for S,463 taxable returns and 3.7S4 nontaxable returns for 
estates and trusts filed on Form 1040 which should have been filed on Form 1041. 



Individual returns trith net income, 1914— S7, by net income classes: number of returns ' 



Xet income classes 
(ThoH.sands of dollars) 


1914 


1915 


1916 


1917 


1918 


1919 


1920 


Under 1 


1 under 2.. 








1, 640. 758 

838.707 

560,763 

270.666 

112.502 

30,391 

12,439 

3,302 

2,347 

559 

315 

141 


1, 516, 938 

1,496.878 

932,336 

319. 356 

116. 569 

28,542 

9,996 

Z358 

1.514 

382 

178 

67 


1,924,872 

1, 569. 741 

1,180.488 

438.851 

162,485 

37,477 

13,320 

2.983 

1,864 

425 

189 

65 


2,671,950 
2. 569, 316 


2 under 3 ^ 


3 under 5 

5 under 10 . . . 


149,279 
127,448 
58.603 
14,676 \ 
5,161 
1,189 i 
769 1 
216 1 
114 
60 


127,994 

120,402 

60,284 

17,301 

6,847 

1,793 

1.326 

376 

209 

120 


157, 149 

150,553 

80.880 

23,734 

10,452 

2,900 

2,437 

714 

376 

206 


1. 337, 116 
455,442 
171,830 


lOimder 25 


25tmder50 


38.548 


50 under 100 


12,093 


100 under 150 


2,191 


150tmder300 


1,063 
239 


300 under 500 


500 under 1.000.... 


123 


1,000 and over 


33 


Total 


357. 515 


336,652 


> 429. 401 


3.472.890 


4. 425. 114 


5. 332. 760 


7, 259. 944 



For footnotes, see p. 37. 



STATISTICS OF IXCOME 



37 



Individual returns with net income, 1914-37, by net income classes: 

returns ' — Continued 



number of 



Xet income classes 
(Thousands of dollars) 


1921 


1922 


1923 » 


1924 


1925 


1926 


1927 


Under 1 

lunder2 .__ 


401.849 

2,440,544 

2, 222, 031 

1, 072, 146 

353, 247 

132,344 

28,946 

8,717 

1,367 

739 

162 

63 

21 


402,076 

2, 471. 181 

2, 129, 898 

1, 190, 115 

391, 373 

151. 329 

35,478 

12,000 

2,171 

1,323 

309 

161 

67 


368,502 

2, 523. 150 

2,472,641 

1, 719, 625 

387,842 

170, 095 

39,832 

12, 452 

2,339 

1,301 

327 

141 

74 


344,876 

2. 413, 881 

2,112.993 

1,800,900 

437, 330 

191, 216 

47,061 

15,816 

3,065 

1,876 

457 

242 

75 


98,178 

1, 071, 992 

842,528 

1,327,683 

503,652 

236,779 

59, 721 

20,958 

4,759 

3,223 

892 

479 

207 


119, 513 

1,045,519 

837, 792 

1,240,400 

560,549 

246,730 

57,487 

20,520 

4,724 

3,267 

892 

468 

231 


126,745 
996,098 


2 under 3 


855,762 


3 under 5 . 


1 209,345 


5 iiTider 10 


567 700 


10 under 25 


252,079 


25 under 50 .. 


60,123 


50 under 100 


22,573 
5,261 
3,873 
1,141 


100 under 150 


150 under 300 


300 under 500 


500 under 1,000 


557 


1,000 and over 


290 






Total 


6, 662, 176 


6, 787, 481 


7, 698, 321 


7, 369, 788 


4, 171, 051 


4,138,092 


4, 101, 547 




Xet income classes 
(Thousands of dollar^;") 


1928 


1929 


1930 


1931 


1932 


1933 


1934 


Under 1 


111,123 

918, 447 

837. 781 

1, 192. 613 

628,766 

270. S89 

' 68.048 

27.20.7 

7,049 

5,678 

1.756 

983 

511 


126, 172 

903,082 

810, 347 

1, 172, 655 

6.58, 039 

271.454 

63,689 

24.073 

6.376 

5,310 

1.641 

976 

513 


150,000 

909,155 

767,684 

1,070.239 

550. 977 

198. 762 

40,845 

13,645 

3,111 

2,071 

552 

318 

150 


185, 391 

862,153 

675.019 

912, 630 

417, 655 

137,754 

24,308 

7,830 

1,634 

1,056 

268 

149 

/I 


359,688 

1, 489, 589 

967,956 

703. 755 

251.014 

79. 210 

18.480 

5.902 

995 

595 

140 

86 

20 


397. 676 

1, 480, 717 

914.198 

599. 075 

229.754 

75.643 

18.423 

6.021 

1,084 

695 

141 

81 

50 


320.460 


1 under 2 _ . 


1,608,095 
980,682 


2under3 


3 under 5 

5underlO 


762,536 
290.824 


10 under 25 


102, 892 


25 under 50 


20.931 


50 under 100 


6.093 


100 under 150 


982 


150 under 300 _ 


690 


300 under 500 


116 


500 under 1.000. 


86 


1,000 and over 


33 






Total 


4,070,851 


4, 044. 327 


3, 707, 509 


3. 225. 924 


3. 877, 430 


3, 723, 558 


4,094,420 



Xet income classes 
(Thousands of dollars) 


1935 


1936 


1937* 


Under 1 .. . _ . .. . .-. 


299.594 

1. 777. 931 

1,123.699 

873,673 

339.842 

123.564 

26,029 

8.033 

1,395 

896 

206 

109 

41 


277.803 

2, 111. 789 

1. 317. 752 

L 029. 144 

440.886 

176,649 

41.137 

13,620 

2.606 

1.544 

330 

178 

61 


297,143 


1 under 2 


2. 524, 763 


2 under 3 .... 


1. 571, 996 


3 nnder H 


1,2.'51,213 


SnndpT 10 


471,171 


10under25 


178,446 


25 under 50 


38.948 


50underl00 ... 


12.318 


100underl50 


2.269 


150nnder300 


1. 3.S8 


300under500 


312 


500 under 1,000 . 


162 


1.000 and over 


49 



Total ' 4.575.012 5,413,499 6. 350. 148 



1 Changes in the revenue acts affecting the comparability of statistical data from income tax returns of 
individuals are summarized on pp. lS-S-i95. The returns for 1913 are omitted, as they pertain only to the 
last 10 months of that year. Data for returns of net income under So.OOO are estimated on basis of sample for 
1918 through 1927 and for 1929: and partly estimated and partly tabulated 192S. 1930. and subsequent years. 

! Excludes 7.635 returns of married women making separate returns from husbands. In 1916 the net 
income on returns filed separately by husband and wife is combined and the total appears as one return. 
In all other years the returns of married women filed separately are included in their individual income 
classes independently of the husband's income. 

3 Revised. fSee Statistics of Income for 1925. pp. 2S-29.') 

♦ Includes 36.065 taxable returns. Form 1041. which correspond to taxable returns. Form 1040. for estates 
and trusts filed for prior years, and S.463 taxable returns and 3.784 nontaxable returns for estates and trusts 
filed on Form 1040 which should have been filed on Form 1041. 



38 



STATISTICS OF I^s'COME 



Individual returns with net irux>tne, 1916-37, hy net income dosser: net income i 

[Net income classes and money figures in thoosands of dollars] 



Xet income clsssc-s 



1916 



1917 



1920 



1921 



1922 



Under 1 

lander 2.. i 

2ander3 I j 2. 



3 nnder 5. 

SunderlO 

10tuider25 

25 under 50 

50 under 100 

100 under 150 

150 nnder 300 

300 under 500 

500 under 1,000 

1,000 and over 



624.669 
1.037.24S 
1. 235. 016 
S22.662 
7-22.795 
S57. 355 
505. S59 
271. 9oS 
256,771 
464. 264 



461. 
064. 

115. 
S^, 
6S7! 
042. 
«6. 
400. 
474. 
209. 
214. 
306. 



S65 
oOS 
166 
330 
S&4 
492 
652 
905 
631 
S36 



2.232.355 

3.626,S25 

3. 535. 219 

2, 145. 690 

1. 736. 54S 

97S,043 

679. 721 

2S4. 107 

305. 025 

144.545 

119. 076 

137,487 



2, S29. 113 

3. S07. 2S6 
4. 513. •2&4 
2, 954. 137 
2 412,276 
1. 277. 365 

S96. 497 
35S.393 
371. 149 
159. 071 
12S.290 
152.650 



4. 05a 067 
6.1S4,543 
5,039.607 
3.06S.331 
2,547.905 
1.307,785 
Sio. 3?6 



213. S50 

3. 620. 762 

5. 325. 931 

4. 054. S91 

Z 37S, 759 

1. 95S. 156 

979.629 

5S2,230 

163,521 

145,948 

61,343 

42,780 

49. 411 



247.564 

3. 630. 571 

5. 153. 497 

4.500,558 

2.641.905 

2,255.872 

1,208.274 

S05.224 

260.204 

266,814 

116.672 

107. 671 

141,387 



Total 6.29S.57S 13,652,383 15,924.639 19,859.491 23.735.629 19.577,213 21,336,213 



Xetin: 



1924 



1926 



192S 



TTndex 1 

1 under 2 

2nnder3 

3 under 5 

5 under 10 

10 under 25 

Sunder 50 

50 under 100... 
100 under 150.. 
150 under 300.. 
300 under 500. . 
500 under 1.000 
1,000 and over- 
Total.... 



252.513 

3.693.642 

6.073.444 

6. 469, 195 

2,653.026 

Z5^079 

1,35a 680 

833. 89S 

280.656 

26a 584 

124,569 

95.107 

152.072 



235. 452 
3,561474 

5. 277. 147 

6. 827. 924 
2, 991. ISS 
Z 855. 397 
1. 599. 84S 
1,066.784 

377,645 
374,609 
171,349 
158.462 
155, 974 



58.306 

1. 774. 602 

Z 047, 970 

5,236.003 

3. 463. 852 

3.544,898 

Z03Z239 

1. 41S. 948 

57ZS60 

655,300 

339,774 

327.368 

42Z457 



67.238 

1. 747. 917 

Z04Z903 

4. S7Z 7S9 

3. 83S. 953 

3.660.622 

1.954.653 

1, 3S9. 339 

57a 190 

661,412 

340,214 

317. 881 

494.394 



•■'.1 



. 4t!6 25. 656. 1-53 21. S94. -576 



21. 95S. .v^e 



7Z 231 

1. 645! 576 

Z06Z275 

4. 700. 816 

3. 895, 759 

3. 748. 058 

Z 051. 771 

1. 535, 387 

636,019 

787,270 

431,122 

378,167 

eoaeii 



\ I 



fr4.535 

1. 526. 832 

Z 030, 901 

4. 648. 098 

4. 282. 520 

4. 037. 853 

Z 326. 503 

1. 857. 878 

850,451 

1. 157. 131 

663.900 

67a 862 

1,108.863 



22.545.091 Z5. 226, 327 



XtT income classes 



aS^T 



1931 



1932 



1933 



1934 



Under 1 

lunder 2 

2 under .3 

3under5 

Sander 10 

10 under 25 

25 under 50 

50 under 100 

100 under 150- . 
150 under 300... 
300 under 500. . 
500 onder 1,000.^ 
1,000 and over._ 



Total. 



73.742 


So. S92 


106.622 


231. 140 


264. 7S4 


211. 113 


1.499.908 


1,494.526 


1.399.430 


Z 145, S34 


Z 093. 292 


Z27r.726 


1. 958. 595 


1. 864. 162 


1.641.594 


Z 437. 251 


Z295.5S6 


Z 467, 851 


4.57Z596 


4. 15L 967 


3. 515. 716 


' Z 597. 915 


Z 207. 458 


Z 839. 348 


4. 4S1. 576 


3. 7S. 763 


Z 807. 001 


1,677.0-39 


1. 5-37. 875 


1, 95Z 891 


4.025.233 


Z92Z750 


Z 006. 721 


1,160.398 


1,11Z0S6 


1, 513. 592 


Z 174, 458 


1.3S3.619 


S20.645 


629.639 


630.005 


7Ce,530 


1.646.476 


919.040 


52S.049 


393.206 


40L049 


405,976 


77a 536 


374,171 


196. 59S 


119,896 


129,159 


117, 744 


L 087, 410 


419,016 


21Z059 


118,008 


139. 215 


140,960 


628,229 


207,131 


102.186 


5Z469 


54.570 


43,832 


669,878 


211,693 


10Z311 


57,874 


56,700 


59,464 


1,21Z099 


359,905 


166.060 


35,240 


86,857 


01,110 


24.800,736 


IS, lis. 635 


13,604,996 


5 IL 655, 909 


11,008,638 


12, 796, 802 



For footnotes, see p. 39. 



STATISTICS OF IXCOME 



39 



Individual returns with net income, 1916-37, by net income classes: net income ' — Con. 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



1935 



1936 



1937* 



Under 1, 

lander 2 

2 under 3 

Sunder 5 

Sunder 10 

10 under 25 

25 under 50 

sounder 100--. 
100 under 150-. 
150 under .300- - 
300 under 500- - 
500 under 1.000. 
1,000 and over-. 

Total.... 



198,900 


187,113 


202,401 


2,534,828 


3,011,409 


3,592,283 


2,831,583 


3,325,252 


3,980,864 


3, 249, 107 


3,821,708 


4,646.965 


2,283.402 


2,977,790 


3. 170. 571 


1,822.271 


2,628.692 


2, 639. 518 


882.309 


1,400.493 


1.319.431 


5.35, 772 


913. 518 


824.281 


166,379 


311,279 


272.264 


179,911 


307.930 


272.724 


77.907 


124.523 


117, 477 


73. 811 


122.762 


114.399 


73.630 


107,641 


85,416 


14,909,812 


19, 240, 110 


21, 238, 574 



1 Changes in the revenue acts aflectin? the comparability of statistical data from income tax returns of 
individuals are summarized on pp. lSS-i95. Data for returns of net income under $5,000 are estimated on 
basis of sample for 1918 through 1927 and for 1929; and partly estimated and partly tabulated 192S, 1930, and 
subsequent vears. 

* Revised. (See Statistics of Income for 1925, pp. 28-29.) 

9 Revised. CSee Statistics of Income for 1935, Part 1, p. 34, footnote 3.) 

« Includes data for 36,068 taxable returns, Form 1011, which correspond to taxable returns. Form 1040, for 
estates and trusts filed for prior years, and data for 8.403 taxable returns and 3.7*4 nontaxable returns for 
estates and trusts filed on Form 1040 which should have been filed on Form 1041. 



Individuxil returns with net income, 1916—37, by net income classes: tax i 

[Net income classes and money fignres in thousands of dollars] 



Net income classes 


1916 


1917 


I 

1918 


1919 


1920 


1921 


1922 


Under 1 












174 

29.161 

20.712 

42,744 

68.871 

126. 8S6 

IIZ 910 

115. 712 

52.330 

61.496 

31.860 

25.112 

31,420 


247 


1 under 2 




16.244 
9,097 
18,283 
44,066 
80,695 
7^593 
85.028 
55,766 
86, n8 
50,228 
59,349 
109,425 


26.482 
35.415 
82,929 
93.058 
142,449 
130.241 
147.429 
95.680 
136. 156 
79. 165 
69,834 
88,885 


24.696 
2S. 25S 
75. 915 
91,538 
164,833 
154.946 
186,358 
118. 705 
163,095 
86,031 
76,228 
99,027 


36.S60 
4.5.508 
83,496 
97.886 
172,259 
154.265 
163.718 
86.588 
92.604 
47,043 
45.611 
49.185 


27,081 


2 under 3 




20,730 


3 nndpr 5 


776 

6.301 
11.637 
11,603 
16,299 
12,423 
24.007 
17,951 
20,902 
51.487 


47.533 


5 nndPT 10 


70,388 


10 under 25 . 


123.576 


25 under 50 .. 


125.697 


50 under 100 


144.093 


100 under ISO— 


71,337 


150 under 300 

300 under 500, 


98,810 
43.488 


.=in0 nndpr 1 000 


38.559 


1,nOO and nvpr 


49,518 






Total 


173.387 


691,493 


1,127,722 


1,269,630 


1,075,054 


719,387 


861,057 






Net income classes 


1923' 


1924 


192.5 


19-26 


1927 


1928 


1929 


Under 1 


317 
18, 2.53 
ia606 
46.018 
54.075 
103.109 
103.601 
108.879 
.55.719 
62.104 
31.669 '• 
25.49S 
35,788 ; 


146 
10.432 
10.207 
26,865 
28.828 
7S.069 
109.360 
136.636 
75.678 
92.481 
45.771 
42.585 
47,207 


69 

1,704 

3.809 

8.326 

19. 149 

74.172 

120.689 

147.843 

79.472 

103.059 

55.722 

53,674 

66,867 


56 
L761 
4.217 
7.245 
20.272 1 
72.46.5 1 
112.797 1 
140.947 
77.900 
103.997 
55.256 
53,665 
81.893 


4iT 

L234 

3,970 

6,508 

20.665 

74:226 

119, 475 

156.675 

87.398 

123:776 

73.750 

64.265 

98.657 


60 

L550 , 

4.317 

7,475 

22,896 

82,758 

136.568 

194.447 

116,855 

182.514 

113.250 ; 

116,424 

185,140 ; 


17 


1 nndpr 2 


553 


2under3 


L4(H 


a nndpr 5 


2,413 


5 nndpr 10 


9 551 


10 under 25 


59 893 


Ifi nndpr .V) 


113,904 


50 under 100 


160. 814 


100 under 150..- 


99,560 


150 undpr .300-- 

300 under 500 


159.221 
97.336 


500 under 1.000 


106.219 


1,000 and over 


191,054 


Total 


661.666 


704.265 


734.555 


732, 4n 1 


83a 639 


1,164,254 1 


1,001,988 





For footnotes, see p. 40. 



40 



STATISTICS OF INCOME 



Individual returns with net income, 1916-37, by net income classes: tax ' — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



Under 1 

1 under 2 

2under3 

3 under 5 

5 under 10 

10 under 25 

25 under 50 

sounder 100.... 
100 under 150... 
150 under 300... 
300 under 500... 
500 under 1,000. 
1,000 and over. . 



Total .- 476,715 



1930 



37 
1,269 
3,310 
5,352 
17, 448 
49, 561 
72, 70S 
87, 379 
48, 749 
62, 463 
33, 053 
34, 289 
61, 098 



1931 



24 
943 
2,466 
3,832 
12, 407 
31, 897 
40, 096 
44, 780 
23, 135 
28, 793 
15,411 
15,457 
26, 886 



246, 127 



103 
12, 254 
9,822 
20, 895 
35,615 
50, 150 
43, 546 
47, 150 
24, 469 
31,912 
18, 554 
19,016 
16, 476 



329, 962 



97 
10, 345 
7,710 
18, 397 
3,5, 077 
54, 977 
52, 355 
57, 491 
30, 369 
40, 412 
17,910 
21, 221 
27, 759 



374, 120 



111 
8,659 
7,567 
18, 349 
43, 086 

83, 960 
84, 907 

84, 792 
38, 166 
57, 995 
20, 854 
30, 745 
32, 211 



511,400 



1935 



125 

10, 0.58 

9,311 

20, 738 

48, 728 

103, 754 

106, 670 

112,816 

54, 132 

74, 039 

37, 245 

38, 323 
41, 499 



1936 



331 

14, 010 

13, 988 

32, 232 

79, 369 

175, 613 

191, 339 

216, 045 

116, 156 

147, 381 

71, 470 

78, 945 

77, 138 



657,439 1,214,017 



468 

17, 262 

15, 622 

38, 852 

83, 529 

175, 709 

179, 395 

194, 507 

102, 062 

131,060 

67, 489 

74, 156 

61,457 



1 Changes in the revenue acts aflecting the comparability of statistical data from income tax returns of 
individuals are summarized on pp. 188-195. Data for returns of net income under $5,000 are estimated on 
basis of sample for 1918 through 1927 and for 1929; and partly estimated and partly tabulated for 1928, 1930, 
and subsequent years. 

2 Revised. (See Statistics of Income for 1925, pp. 28-29.) .^mounts for 1923 in this table are after the 25 
percent reduction provided by section 1200(a), Revenue Act of 1924. 

^ Includes data for 36,068 taxable returns, Form 1041, which correspond to taxable returns, Form 1040, for 
estates and trusts filed for prior years, and data for 8,463 taxable returns and 3,784 nontaxable returns for 
estates and trusts filed on Form 1040 which should have been filed on Form 1041. 

Individual returns with net income, 1916-37, by net income classes: effective tax rate 

(percent) ' 



Net income classes 


1916 


1917 


1918 


1919 


1920 


1921 


1922 


1923 


1924 


(Thousands of dollars) 


Percent 


Under 1 












0.08 

.81 

.39 

1.05 

2.90 

6.48 

11.53 

19.87 

32.00 

42.14 

51.94 

58.70 

63. 59 


0.10 

.75 

.40 

1.06 

2.66 

5.48 

10.40 

17.89 

27.42 

37.03 

37.27 

35.81 

35.02 


0.13 

.49 

.27 

.71 

2.04 

4.06 

7.67 

13.06 

19.85 

23.83 

25.42 

26.81 

23.53 


0.06 






0.66 

.44 

.86 

2.41 

4.78 

7.34 

10.04 

13.92 

18.27 

23.93 

27.63 

35. 65 


1.19 
.98 
.2.35 
4.34 
8.20 
13.32 
21. 69 
33.68 
44.64 
54.77 
58.65 
64.65 


0.87 
.74 
1.68 
3.10 
6.83 
12.13 
20.79 
33.12 
43. 94 
.54. 08 
59.42 
64.87 


0.91 
.74 
1.66 
3.19 
6.76 
11.80 
20.20 
32.61 
43.04 
52.67 
67. 08 
63.81 


.29 


2 under 3 




.19 




0.12 
.61 
.94 
1.41 
2.25 
3.48 
4.75 
6.60 
8.14 
11.09 


.39 




.96 


10 under 25 . 


2.73 


25 under 50 


6.84 


50 under 100 .-. 


12.81 


100 under 150 

150 under 300 _. . . 


20.04 
24.69 


300 under 500 


26.73 


500 under 1,000 . 


26.87 


1,000 and over 


30.27 






All returns 


2,75 


5.06 


7.08 


6.39 


4.53 


3.67 


4.04 


2.67 


2.74 







Net income classes 


1925 


1926 


1927 


1928 


1929 


1930 


1931 


1932 


1933 


1934 


(Thousands of 
dollars) 


Percent 


Under 1 


0.12 

.10 

.19 

.16 

.55 

2.09 

5.94 

10.42 

13.87 

15. 73 

16.48 

16.39 

15.83 


0.08 

.10 

.21 

.15 

.52 

1.98 

5.77 

10.14 

13.66 

15.72 

16.24 

16.88 

16.56 


0.06 

.07 

.19 

.14 

..53 

1.98 

5. 82 

10.20 

13.74 

15.72 

17.11 

16.99 

16. 42 


0.09 

.10 

.21 

.16 

.53 

2.05 

5.87 

10.47 

13.74 

15.77 

17.06 

17.35 

16.70 


0.02 

.04 

.07 

.05 

.21 

1.49 

5.24 

9.77 

12.92 

14.64 

15.49 

15.86 

15.76 


0.04 

.08 

.18 

.13 

.47 

1.70 

5.25 

9. .51 

13.03 

14.91 

15.96 

16.20 

16.98 


0.02 

.07 

.15 

.11 

.44 

1.59 

4.89 

8.48 

11.77 

13.58 

15.08 

15.11 

16.19 


0.04 

.57 

.40 

.80 

2 12 

4^32 

6.92 

11.99 

20.41 

27.04 

35.36 

32.86 

46.75 


0.04 

.49 

.34 

.83 

2.28 

4.94 

8.31 

14.34 

23.51 

29.03 

32.82 

37.43 

31.96 


0.05 




.38 


2under3 


.31 

.65 


5 under 10 


2.21 


10 under 25 


5.55 


25 under 50 

sounder 100 

ion under 1.50 

1.50 under 300 

300 under 500 

500 under 1,000 

1,000 and over 


11.98 
20.89 
32.41 
41.14 
47.58 
51.70 
55.75 


All returns . . 


3.35 


3.33 


3.68 


4.62 


4.04 


2.63 


1.81 


2.83 


3.40 


4.00 



For footnotes, see p. 41. 



STATISTICS OF INCOME 



41 



Individual returns with net income, 1916-37, by net income classes: effective tax rate 

(percent) ^ — Continued 



Net income classes (thousands of dollars) 


1935 


1936 


1937' 


Percent 


Under 1 - ..- 


0.06 

.40 

.33 

.64 

2.13 

5.69 

12.09 

21.06 

32.54 

41.15 

47.81 

51.92 

56.36 


0.18 

.47 

.42 

.84 

2.67 

6.08 

13.66 

23.65 

37.32 

47.86 

57.40 

64.31 

71.66 


0.23 


1 under 2 .. . _-- ._..._. 


.48 


2 under 3 . . -.. . 


.39 




.84 


5 under 10 - -, 


2.63 


lOund^r 25 . 


6.66 


25 under 50 - .... 


13.60 


50 undc 100 .... - 


23.60 


100updprl50 .... . . 


37.49 


150 under 300 ...... ... 


48.06 


300 under 500 . . ... . 


57.45 


500 under 1,000 


64.82 


1,000 and over 


71.95 






All returns .- ...... .. 


4.41 


6.31 


5.37 







1 Changes in the revenue acts affectins; the comparability of statistical data from income tax returns of 
individuals are summarized on pp. 188-195. Data for returns of net income under $5,000 are estimated, 
based on sample for years 1918 through 1927 and for 1929; and partly estimated and partly tabulated for 1928, 
1930, and subsequent years. 

2 Includes data for 36,068 taxable returns, Form 1041, which correspond to taxable returns. Form 1040, for 
estates and trusts filed for prior years, and data for 8,463 taxable returns and 3,784 nontaxable returns for 
estates and trusts filed on Form 1040 which should have been filed on Form 1041. 



Individual returns ivith net income, 1916-37: sources of income and deductions, and 

net income ^ 

[Thousands of dollars] 



Distribution 


1916 


1917 2 


1918 


1919 


1920 


1921 


Income: 

Salaries, wages, commis- 


1, 851, 277 

2, 637, 475 

(0 

(0 

(0 
643, 803 
2, 136, 469 
379, 795 

(15) 

701, 084 


3, 648, 438 

2, 865, 413 

775, 087 

318,171 

(0 

684, 343 
2, 848. 842 

(12) 
(12) 

936, 715 


8, 267, 392 
3, 124, 355 
1,214,914 

291, 186 

(0 

975, 680 
2, 468, 749 

(13) 

CO 
1, 403, 486 


10, 755, 693 
3, 877, 550 
1, 831, 430 

999, 364 

(») 
1, 019, 094 
2, 453, 775 

(13) 

63, 377 
1, 437, 402 


* 15,322, 873 
4 3, 215, 555 
< 1, 706, 229 

1, 020, 543 

(0 
1. 047, 424 

2, 735, 846 

(13) 

61, 5.';o 

4 1, 580, 250 


13, 813, 169 




2, 366, 319 


Partnership ' 

Profit from sale of real 
estate, stocks, bonds, 
etc., other than taxes as 
capital net gain from sale 
of assets held more than 
2 years . . . _ . - ^ . - ^ 


1, 341, 186 
462,859 


Capital net gain from sale 
of assets held more than 
2 years 

Rents and royalties 

Dividends received'" 

Income from fiduciaries ".- 
Taxable interest on par- 
tially tax-e.xempt Govern- 
ment obligations '^ 

Interest and other income ". 


(') 
1,177,958 
2, 476, 952 

(13) 

46, 994 
1, 643, 344 


Total income 


8, 349, 902 


12, 077, 009 


17, 745, 761 


22, 437, 686 


26, 690, 270 


23, 328, 782 


Deductions; 

Net loss from sale of real 
estate, stocks, bonds, 
etc., other than reported 
for tax credit on capital 
net loss from sale of assets 
held more than 2 years.. . 

Net loss from business 

Net loss from partnership.. 

Interest paid.- .. 


CO 
} CO 

} CO 
CO 
2, 051, 324 


CO 
CO 

CO 

245, 080 
640, 683 


CO 
CO 

CO 

CO 
1, 821, 122 


CO 
CO 

CO 

C'^ 
2, 578, 194 


CO 
CO 

CO 

387, 290 
2, 567. 351 


CO 
CO 


Taxes paid 

Contributions 

Other deductions 


CO 
3, 751, 569 






Total deductions . 


2, 051, 324 


885, 763 


1, 821, 122 


2, 578, 194 


2, 954, 641 


3, 751, 569 






Net income . 


6, 298, 578 


11, 191, 246 


15, 924, 639 


19, 859, 491 


23, 735, 629 


19, 577, 213 







For footnotes, see pp. 46-47. 



42 



STATISTICS OF INCOME 



Individual returns with net income, 1916-37: sources of income and deductions, and 

net income ' — Continued 

[Thousands of dollars] 



Distribution 


1922 


192318 


1924 


1925 


1926 


1927 


Income: 














Salaries, wases. commis- 














sions, fees, etc.5. .- 


13. 693. 993 


14. 195, 356 


13. 617, 663 


9. 742, 160 


9, 994, 315 


10, 218. 450 


BxisLness --- 


2. 839. 771 


4. 722, 766 


4. 755. 4S3 


3.688,804 


3, 572, 895 


3,287,421 




1, 427. 127 


1, 676, 409 


1, 810, 014 


1,827,025 


1, 732, 581 


1, 755, 145 


Profit from sale of real es- 














tate, stocks, bonds, etc., 














other than taxed as cap- 














ital net sain from sale of 














assets held more than 2 
















742,104 


863,107 


1, 124, 566 


1,991,659 


1,465,625 


1, 813, 396 


Capital net sain from sale 




of assets held more than 
















249. 248 
1, 224. 929 


305.394 
1.814.126 


389. 148 
2.009.716 


940,569 
1,471,332 


912, 917 
1, 450, 760 


1, 081, 186 


E ents and royalties 


1,302,276 


Dividends received if 


2, 664. 219 


3,119.829 


3, 250. 914 


3.464,625 


4, Oil, 590 


4,254,829 


Income from fiduciaries »-- 


257,928 


329, 124 


310, 144 


305,806 


333,365 


421,481 


Taxable interest on par- 














tiallv tax-exempt Gov- 














ernment oblisations '<--- 


33,989 


43.711 


29,645 


25,651 


36, 782 


47, 479 


Other taxable interest 


1 1, 738, 601 


2. 177, 771 


2, 281, 703 


1, 814, 402 


1,936,604 


f 1,675.916 
\ 350, 981 






Total income 


24. 871. 908 


29. 247, 593 


29, 578. 997 


25,272,035 


25,447,436 


26. 208, 561 


Deductions: 














Xet loss from sale of real 














estate, stocks, bonds. 














etc.. other than reported 














for tax credit on capital 














net loss from sale of assets 














held more than 2 years— 


00 


CO 


00 


00 


178, 216 


227, 879 


Xet loss from business 

Xet loss from partnership.. 


} 0') 


00 


00 


00 


00 


00 




\ O:) 


00 


00 


00 


00 


... 




0) 




425.218 
3,110.478 


534. 797 
3, 935. 330 


533.168 
3. 389. 675 


441.590 
2, 935, 868 


484,205 
2,826,509 


507, 705 




2, 927, 886 






Total deductions— 


3. 535. 696 


4.470.127 


! 3. 922. 843 


! 3.377,458 


3,488,930 


3, 663. 470 


Net income 


21,336.213 


24.777.466 


'■ 25,656.153 


21. S94. 576 


21, 958. 506 


22,545,091 



Distribution 


1928 


1929 50 


1930 


1931 


1932 


1933 


Income: 

Salaries, waees, commis- 


10. 862. 331 
3, 243, 955 
1,929,520 

2,928,142 

1,879,780 

1, 164, 518 

4,350,979 

443,998 

40.553 

1,841.818 

302,040 


11.173.068 
3,327.989 
1,846,431 

2,335,898 

2,346,704 

1,278,757 

4,783,240 

508,221 

40.184 

1, 908, 030 

296,235 


9,921,952 
2.628.057 
1,089,646 

636,738 

556.392 

974,325 

4,197,304 

429,459 

38,134 
1,608,434 
M 239, 004 


8,325,162 

1,889,759 

729,523 

301,664 

169,949 

770,764 

3,113,861 

369, 140 

25,325 

1, 337, 606 

235,6% 


8, 136, 717 

1,294,952 

482,863 

112, 814 

50.074 

529.989 

1,972,133 

310,949 

29,188 

1, 141, 799 

330, 602 


7, 390. 356 




1. 402. 923 




603, 725 


Proflt from sale of real 
estate, stocks, bonds, 
etc.. other than taxed as 
capital net sain from sale 
of assets held more than 
2 vears 


419, 591 


Capital net gain from sale 
of assets held more than 
2 vears - 


133, 616 




447,883 


Dividends received i" 

Income from fiduciaries n.. 
Taxable interest on par- 
tially tax-exempt Gov- 
ernment oblisat ions 1' 

Other taxable interest 

Other income 1' 


1,559,046 
276,067 

31,689 
961. 732 
167, 197 






Total income 


1 28,987,634 


29, 844, 758 


»522,319,446 


17,268,451 


14, 392, 080 


13, 393, 825 



For footnotes, see pp. 46-47, 



STATISTICS OF INCOME 



43 



Individual returns with net income, 1916—37: sources of income and deductions, and 

net income ^ — Continued 

[Thousands of dollars] 



Distribution 



1928 



1929" 



1930 



1932 



1933 



Deductions: 

Net loss from sale of real 
estate, stocks, bonds, 
etc., other than reported 
for tax credit on capital 
net loss from sale of assets 
held more than 2 years ... 

Net loss from business ' 

Net loss from partnership « 

Interest paid 22 

Taxes paid 22 


171, 743 

} (... 

} CO 
532,886 


994,665 
CO 

CO 
527,093 


1, 232, 776 
172,538 

CO 

25 417, 771 

25 2. 377. 726 


1, 160, 765 
134,685 

CO 

328,300 
2,039,705 


375,445 
112, 659 

CO 

304,009 
19 1, 944, 057 


365, 782 
f 61, 985 
I 30, 435 
f 507, 520 
I 506.258 


Contributions 


252,251 


Other deductions 


3, 056, 679 


3. 522. 265 


660,956 


T otal deductions 

Net income 






3,761,308 5,044,023 125 4,200,811 


3, 663, 455 


i> 2, 736, 171 


2, 385, 187 


25,226,327 i 24,800,736 j 18,118,635 13,604,996 


I'll, 655, 909 


11,008,638 



Distribution 



Income: 

Salaries, wages, commissions, fees, etc' 

Business profit 

Partnership profit ' 

Net capital gain 21 

Rents and royalties 

Dividends received 1° 

Income from fiduciaries " 

Taxable interest on partially tax-exempt Govern- 
ment obligations i< 

Other taxable interest 

Other income '^ 

Total income 

Deductions: 

Business loss 5 

Partnership loss ^ 

Net capital loss 21 

Interest paid 22 

Taxes paid 22, _ 

Contributions 

Other deductions 

Total deductions 

Net income 



1934 



8, 600, 455 
1, 716, 842 
631,915 
211,319 
509,844 
1, 965, 670 
288,730 

38,044 
909,231 
220,910 



15, 092, 960 



63,885 
29,004 
183, 762 
517, 217 
541, 191 
272,822 
688,277 



2, 296, 158 



12, 796, 802 



1935 



9, 900, 578 
1, 855, 019 
739,822 
509,714 
572,060 
2, 234, 727 
328, 978 

43,820 
900,501 
231,286 



1936 



11, 661, 274 

2, 374, 258 

1,022,288 

973, 796 

685,063 

3, 173, 844 

826, 184 

43,627 
887,684 
240, 357 



17, 316, 505 



67,453 
23,876 
145,728 
503,730 
596,559 
305, 155 
764,191 



21, 888, 373 



79,520 
21, 307 
129,704 
544,869 
698,609 
385,838 
788, 416 



2,406,693 2,648,263 



1937 2S 



14, 148, 510 

2, 493, 426 

1, 139, 301 

434, 114 

758,444 

3, 514, 293 

830, 772 

47, 955 
862, 349 
224,935 



24,454,099 



97,940 
29,011 
264,192 
560,997 
837,272 
440,010 
986,103 



3, 215, 525 



14, 909, 812 ! 19, 240, 110 



21, 238, 574 



For footnotes, see pp. 46-47 



186585 — 10- 



44 



STATISTICS or INCOME 



Individual returns with net income of $5,000 and over, 1916-37: sources of income 
and deductions and net income ^ 

[Money figures in thousands of dollars] 



Distribution 


1916 


1917 


1918 


1919 


1920 


1921 


Number of returns 


23 272, 252 


432, 662 


478, 962 


657, 659 


681, 562 


525, 606 




Income: 

Salaries, wages, commis- 
sions, fees, etc.3 

Business 5 


1, 398, 329 
2, 386, 905 

C) 

516, 742 

2, 098, 428 

365, 326 

(15) 

627, 943 


1, 794, 790 
1, 062, 772 

581, 708 

217, 929 

340, 868 

2, 648, 155 

(12) 

(12) 
822, 480 


2, 103, 819 

1, 148, 297 

913, 853 

187, 406 

(») 

386, 474 
2, 133, 209 

(13) 
(12) 

799, 186 


2, 948, 006 
1, 743, 800 
1, 426, 072 

677, 284 

m 

445, 701 
2, 128, 291 

(13) 

62, 571 
876. 687 


3, 367, 516 
1, 398, 069 
1.261,899 

623, 993 

m 

451, 878 
2, 363, 880 

(13) 

60, 432 

847, 894 


2, 831, 520 
816, 040 
903 571 


Partnership 6_ . _ _ _ 


Profit from sale of real 
estate, stocks, bonds, 
etc., other than taxed as 
capital net gain from sale 
of assets held more than 
2 years __ 


254, 456 

(9) 


Capital net gain from sale 
of assets held more than 

2 years s__ . „ 


Rents and royalties 

Dividends received i" 

Income from fiduciaries ii__ 
Taxable interest on par- 
tially tax-exempt Gov- 
ernment obligations '^ 

Interest and other income ■' 


420, 932 
1,915,138 

(13) 

40, 281 
732, 697 


Total income . 


7, 393, 672 


7, 468, 702 


7, 672, 243 


10,308.411 


10, 375, 561 


7, 914, 635 




Deductions: 

Net loss from sale of real 
estate, stocks, bonds, etc., 
other than reported for 
tax credit on capital net 
loss from sale of assets 
held more than 2 years... 

Net loss from business 

Net loss from partnership.. 

Interest paid 


(■') 
(") 
(") 
(") 
('■) 
(") 
1, 719, 764 


(") 

(") 

("0 

(") 

186, 907 
271, 391 


(") 
(") 
(") 
('■) 
(") 
(") 
1, 142, 003 


('■) 

on 
on 
(") 
(") 

1, 598, 583 


(") 

on 
(") 
(") 

(24) 

1,914,150 


0') 

on 
('■) 

0") 


Taxes paid .. 


on 


Contributions... 

Other deductions. . 


on 

1, 552, 857 






Total deductions 


1, 719, 764 


458, 297 


1, 142, 003 


1, 598, 583 


1,914,150" 


1, 552, 857 






Net income 


5, 673, 909 


7, 010, 404 


6, 530, 241 


8, 709, 828 


8, 461, 412 


6, 361, 778 


Distribution 


1922 


1923 "8 


1924 


1925 


1926 


1927 


Number of returns . 


594,211 


626, 897 


697, 138 


830, 670 


894. 868 


913, 597 






Income: 

Salaries, wages, commis- 
sions, fees, etc.3 . - - 

Business . 


2, 933, 454 

1,012.440 

918, 183 

490. 794 

' 249, 248 

482, 189 

2, 173, 499 

197, 189 

30, 962 
} 850, 935 


3,114,006 

1,067.731 

921, 851 

458, 184 

305, 394 

497, 624 

2, 435, 137 

233, 982 

30, 465 
864, 514 


3. 490, 916 
1, 290, 722 
1,112,710 

770, 026 

389, 148 

570, 427 

2,617,871 

206, 972 

29, 645 
932, 324 


4,033,811 
1,623.638 
1, 422, 799 

1, 723, 438 

940, 569 

679, 569 

3, 045, 368 

248, 163 

25, 651 
1, 084, 120 


4, 363, 395 
1, 738, 523 
1, 329, 786 

1,224,278 

912,918 

689, 981 

3,581,362 

273, 252 

36, 782 
1,217,681 


4, 524, 276 
1, 704, 175 


Partnership' 


1, 354, 422 


Profit from sale of real es- 
tate, stocks, bonds, etc., 
other than taxed as cap- 
ital net gain from sale of 
assets held more than 2 

years 

Capital net gain from sale 
of assets held more than 

2years ' 

Rents and royalties 

Dividends received '» 

Income from fiduciaries » . . 
Taxable interest on par- 
tially tax-exempt Gov- 
ernment obligations '* 

Other taxable interest 

Other income i' 


1,511,859 

1,081,186 
644, 302 

3,761,910 
329, 351 

47, 479 
f 1,115,925 
\ 185, 099 


Total income 


9,338.893 


9,918,886 


11, 410, 761 


14, 827, 127 


15, 867, 957 


16, 259, 984 



For footnotes, see pp. 46-47. 



STATISTICS OF INCOME 



45 



Individual returns with net income of $5,000 and over, 1916-37: sources of income 
and deductions and net income ' — Continued 

[ Money figures in thousands of dollars ] 



Distribution 


1922 


1923 


1924 


1925 


1926 


1927 


Deductions: 

Net loss from sale of real 
estate, stocks, bonds, etc., 
other than reported for 
tax credit on capital net 
loss from sale of assets 
held more than 2 years- _- 

Net loss from business 

Net loss from partnership. _ 

Interest paid 22 


. (.7) 
• (") 

211,863 
1, 323, 007 


('■) 

238, 378 
1, 391, 835 


CO 

CO 

254, 072 
1, 405, 532 


CO 
CO 

CO 

293, 401 
1, 756, 030 


122,409 
CO 

CO 

326, 511 
1,691,377 


136,482 

CO 


Taxes paid 22 


440, 974 


Contributions.- .. . 


353, 188 


Other deductions 


1, 265, 148 






Total deductions 


1, 534, 871 


1, 630, 214 


1, 659, 605 


2, 049, 431 


2, 140, 298 


2, 195, 792 






Net income -- 


7, 804, 022 


8, 288, 672 


9, 751, 156 


12, 777, 696 


13, 227, 659 


14, 064, 193 






Distribution 


1928 


1929 


1930 


1931 


1932 


1933 


Number of returns 


1, 010, 887 


1, 032, 071 


810, 431 


590, 731 


356, 442 


331, 892 






Income: 

Salaries, wages, commis- 
sions, fees, etc' ... 


5, 008, 286 
1, 772, 255 

1, 583, 322 

2. 700, 557 

1, 879, 780 
637, 371 

4,009,915 
364, 889 

40, 553 

1, 230, 178 

196, 111 


5, 179, 041 
1, 836, 329 
1, 497, 922 

2, 044, 058 

2, 346, 704 
649, 124 

4,247,031 
422, 076 

40, 184 

1, 257, 590 

190, 110 


4, 407, 606 

1,215,452 

786, 931 

527, 653 

556, 392 

479, 401 

3, 708, 656 

338, 400 

38, 134 

1, 018, 001 

130, 191 


3, 320, 028 
766, 730 
492, 147 

196, 574 

169, 949 

306, 336 

2, 583, 674 

280, 627 

25, 325 
749, 345 
120, 845 


2, 057, 254 
354, 488 
284, 624 

71, 643 

50, 074 

160, 244 

1, 540, 625 

217, 610 

29,188 

536, 541 

67, 353 


1, 838, 646 


Business . 


393, 815 


Partnership' . 


401, 931 


Profit from sale of real es- 
tate, stocks, bonds, etc., 
other than taxed as capi- 
tal net gain from sale of 
assets held more than 2 
years . .... 


308, 711 


Capital net gain from sale 
of assets held more than 
2 years ' . 


133,616 


Rents and royalties 

Dividends received '"..i... 
Income from fiduciaries ".. 
Taxable interest on par- 
tially tax-exempt Gov- 
ernment obligations '< 

Other taxable interest 

Other income " 


124, 144 

1,199,867 

182, 735 

31, 689 

422, 731 

69, 656 






Total income 


19,423,216 


19, 710, 168 


13, 206, 817 


9,011,581 


5, 369, 646 


5, 107, 539 






Deductions: 

Net loss from sale of real 
estate, stocks, bonds, etc., 
other than reported for 
tax credit on capital net 
loss from sale of assets 
held more than 2 years... 

Net loss from business ' 

Net loss from partnership «. 
Interest paid 22 


129,865 
} (") 
866, 058 
475, 422 
390, 923 
604, 987 


632, 693 
CO 

886, 187 
479, 100 
384, 458 
631,836 


947, 121 

105, 219 

574, 630 
407, 996 
286, 218 
364, 544 


813, 503 

72, 125 

373, 603 
294, 165 
202, 979 
313, 573 


174, 627 

46, 972 

250, 844 
230, 543 
139. 846 
283, 046 


152, 959 
f 26, 792 
1 15, 597 

208,311 


Taxes paid 22 


200, 078 


Contributions 


111,219 


Other deductions 


245, 065 






Total deductions. . 


2, 467, 255 


3, 014, 274 


2, 685, 728 


2, 069, 948 


1, 125, 878 


960, 022 






Net income . - . 


16, 955, 961 


16, 695, 895 


10,521,088 


6, 941, 633 


4, 243, 768 


4, 147, 517 







For footnotes, see pp. 46-47. 



46 



STATISTICS OF INCOME 



Individual returns with net income of $5,000 and over, 1916-37: sources of income 
and deductions and net income ' — Continued 

[Money figures in thousands of dollars] 



Distribution 



1934 



1935 



1936 



1937 " 



Number of returns 

Income: 

Salaries, wages, commissions, fees, etc.L— 

Business profit - 

Partnership profit ' 

Net capital gain 21 

Rents and royalties 

Dividends received '" --. 

Income from fiduciaries 'i 

Taxable interest on partially tax-exempt Govern 

ment obligations '* 

Other taxable interest 

Other income '* - 

Totalincome 

Deductions: 

Business loss ' 

Partnership loss ' 

Net capital loss '' 

Interest paid " 

Taxes paid " 

Contributions 

Other deductions 

Total deductions 

Net income 



422, 647 



500, 115 



677, Oil 



2, 300, 256 
568, 689 
438, 066 
160, 218 
165, 786 

1, 685, 042 
203, 854 

38, 044 
453, 480 
99, 226 



2, 708, 879 
687, 467 
531, 620 
399, 918 
198, 210 

1, 814, 184 
232, 324 

43, 820 
448, 022 
123, 234 



3, 493, 623 
1, 021, 608 
791,010 
806,916 
271, 556 
2, 583, 888 
691, 024 

43. 627 
445, 355 
108, 784 



6, 012, 662 



7, 187, 678 



10, 257, 390 



29, 753 
15, 178 
90. 968 

231, 267 

232, 490 
129, 650 
282, 591 



33, 713 
13,113 
68, 981 
240, 731 
267, 571 
148, 180 
319, 993 



45, 125 
12, 551 
62, 828 
285, 260 
353, 986 
202, 147 
400, 864 



1,011, 



1, 092, 283 



1, 362, 762 



5, 000, 764 



6, 095, 394 



8, 894, 628 



705, 033 



3, 819, 979 
1, 062, 875 
827, 058 
325, 270 
324, 869 
2, 780, 529 
703, 920 

47, 955 
431, 923 
91, 931 



10, 416, 309 



64, 680 
16, 535 
139.832 
265, 243 
431, 620 
218, 614 
473. 724 



1, 600, 248 



8, 816, 061 



1 Changes in the revenue acts affecting the comparability of statistical data from income tax returns of 
individuals are summarized on pp. 188-195. The income items for 1916 are "Oross income," the deductions 
not having been allocated to the various sources but included in aggregate under "Deductions. " Beginning 
1917, the income items are "net income," the deductions allocable to the various sources of income being 
applied against the gross income from the specific sources as reported on the schedules in the income tax re- 
turns. When net losses are shown on the schedules such net losses are transferred in tabulation to "Deduc- 
tions," which also include the other unallocated items shown on the return under "Deductions." Data for 
returns of net income under $5,000 are estimated on basis of sample for years 1918 through 1927 and for 1929; 
and partly estimated and partly tabulated 1928, 1930. and subsequent vears. 

2 Excludes data for 1,640.758 returns with net income under $2,000 and aggregate net income of $2,461,137,000. 
' Excludes beginning 1924 wages and salaries of the individual, his wife, or dependent minors derived from 

the business conducted by the individual. Prior to 1924 such wages and salaries were reported as income 
under "Wages and salaries." Prior to 1927 includes taxpayer's earned income from a partnership. Includes 
"Professions and vocations" in 1916. 

* Revised. (See Statistics of Income for 1935, Part 1, p. 42, note 4.) 

' Includes partnership income and profit from sale of all stocks, bonds, etc. for 1916. See also note 3. 

» Certain income from partnerships is included in other sources (see notes 8. 10. and 14). Beginning 1936, 
amount includes all dividends received by partnerships. Prior to 1936, dividends received by partnerships 
on stock of domestic corporations subject to taxation under Title T of the effective revenue laws were tabu- 
lated under "dividends received, "while dividends on stock of foreign corporations (other than those deriving 
more than half their gross income from sources in the United States) and. except for 1932 and 1933. dividends 
on stock of domestic corporations not subject to taxation under Title I of the effective revenue laws, were left 
in income from partnerships. Beginning 1934. amount includes net capital gain or loss from sale of capital 
assets by partnerships (see note 21). For 1918 through 1921, amount includes income from fiduciaries, and 
income from personal service corporations as defined in the Revenue .\cts of 1918 and 1921 (except certain 
amounts i ncluded in other sources, see notes 10 and 14) . The amount for partnerships for 1916 was tabulated 
with business. 

' All profit from sale of real estate, stocks, bonds, etc., and income from partnership included in business 
for 1916. 

' Capital net gain received by individuals direct or through partnerships or fiduciaries was taxed at special 
rate. 1922 to 1933, inclusive. See notes 7, 9, and 21. 

» Included in "Profit from sale of real estate, etc." 

■" Beginning 1936. amount includes dividends on stock of both domestic and foreign corporations, excepting 
dividends received by partnerships and fiduciaries. Prior to 1936, amount incUides dividends on stock of 
domestic corporal ions subject to taxation under Title I of the effective revenue laws, and until 1934, the divi- 
dends r(>ci'ived 'in stock of foreign corporations deriving more than half their gross income from sources 
within the Ignited States, whether or not received direct or bv partnership and fiduciaries; also dividends 
received through personal service corporations. 1918 through 1921: and stock dividends. 1916 through 1919. 

" Certain income from fiduciaries is included in other sources (see notes 8. 10 and 14). Besinning 1936, 
amount includes all dividends received by fiduciaries. Prior to 1936, dividends received by fiduciaries on 
stock of^<lomestic corporations subject to taxation under Title I of the effective revenue laws were tabulated 
under "dividends received," while dividends on stock of foreign corporations (other than those dnriving 
more than half their gross income from sources in the United States) and, except for 1932 and 1933. dividends 
on stock of domestic corporations not subject to taxation under Title I of the effective revenue laws, were 



STATISTICS OF INCOME 47 

left in income from fiduciaries. Begimiing 1934, amount includes net capital gain or loss from sale of capital 
assets for estate or trust (see note 21). For 1917, income from fiduciaries is included in "interest and other 
income"; for 191S through 1921, in "partnerships." 

12 Included in "Interest and other income." 

'3 Included in "Partnership." 

i< Includes interest on such obligations held by individuals, or such interest received through partnerships 
and fiduciaries; also such interest through personal service corporations, 1919 to 1921, inclusive. In 1917 and 
191S amount included in "Interest and other income." 

" Such obligations were issued after September 1, 1917. 

16 Beginning 1936, amount excludes dividends received on stock of domestic corporations not subject to 
taxation under Title I of the effective revenue law and on stock of foreign corporations. For years prior to 
1936. amount includes dividends received from these two types of corporations, except in so far as included 
in partnership and fiduciary income, and until 1934, except in so far as received from foreign corporations 
deriving more than half their gross income from sources within the United States. See notes 6, 10 and 11. 

1' Included in "Other deductions." 

19 Revised. (See Statistics of Income for 1925, pp. 28-29.) 

19 Eevised. (See Statistics of Income for 193.5, Part 1, p. 34, note 3.) 

"> Revised figures for returns with net income under $5,000. (See Statistics of Income for 1 934, Part 1. p. 31, 
footnote 18.) 

21 Net capital gain or loss on sale of capital assets Tregardless of time held) by individuals, after certain 
limitations are applied (see sec. 117, Revenue Acts of 1934 and 1936) . Excludes net capital gain or loss on sale 
of capital assets by partnerships or fiduciaries, which amounts beginning 1934, are included with other 
income (or loss) from partnerships or other income from fiduciary (see notes 5 and 10). 

" Excludes amounts reported in schedules A and B as business deductions. 

" Exclusive of returns of married women making separate returns from husbands. 

" Contributions for 1920 not available for returns with net income of $5,000 and over. 

" Revised figures. For nontaxable returns filed in the State of Illinois with net income under $5000, 
"other income" and "total income" have been decreased by 93 million dollars; "contributions" by 7 million; 
"other deductions" by 86 million; and "total deductions" by 93 million. 

2« Includes data for 36,068 taxable returns. Form 1041, which correspond to taxable returns. Form 1040, for 
estates and trusts filed for prior years, and data for 8,463 taxable returns and 3,784 nontaxable returns for 
estates and trusts filed on Form 1040 which should have been filed on Form 1041. 

" Includes data for taxable returns. Form 1041, which correspond to taxable returns, Form 1040, for 
estates and trusts filed for prior years, and taxable returns for estates and trusts filed on Form 1040 which 
should have been filed on Form 1041. 



48 STATISTICS OF INCOME 

ESTATE TAX RETURNS 

The estate tax is imposed upon the transfer of the net estate in its 
entirety and not upon any particular legacy, devise, or distributive 
share. The relationship of the beneficiary to the decedent has no 
bearing upon the tax liability. 

An estate tax return is required in the case of every resident or 
citizen (or resident \\'ithout regard to citizenship, if the decedent died 
prior to May 11. 1934. the effective date of the Revenue Act of 1934), 
the value of whose gross estate, as defined in the statutes, exceeded 
the specific exemption applicable at the date of death. The specific 
exemption is S50.000 under the Revenue Act of 1924 and prior Acts, 
$100,000 under the Revenue Act of 1926. $50,000 for the purpose of 
the additional estate ta:x under the Revenue Acts of 1932 and 1934, 
and $40,000 for the purpose of the additional estate tax under the 
Revenue Acts of 1935, 1936. and 1938. A return is required in the 
case of every nonresident alien (or every nonresident citizen and alien 
if the decedent died prior to May 11. 1934, the effective date of the 
Revenue Act of 1934) any part of whose estate, regardless of value, 
was situated at date of death in the United States, ■u'ithin the meaning 
of the statute. 

Prior to the effective date of the Revenue Act of 1935 (August 31, 
1935) returns were required to be filed \nthin 1 year after date of 
death, while under the Revenue Acts of 1935. 1936, and 1938 returns 
are required to be filed within 15 months after date of death. Under 
certain conditions further extensions of time are granted for filing. 

In determining the value of the gross estate under the 1935 Act the 
executor may elect either the date of the decedent's death or the date 
one year after the decedent's death, or in the case of property dis- 
tributed, sold, exchanged, or otherwise disposed of during the year 
follo^^'ine death, the date of the distribution, sale, exchange, or other 
disposition. Under former Revenue Acts the value of the gross 
estate was determined as of the date of death. As defined by law, 
the gross estate includes certain transfers, such as those made in con- 
templation of death or intended to take effect at or after death. The 
net estate is the amount of the 2:ross estate less (1) the sum of the 
authorized deductions, and (2) the specific exemption allowed in the 
case of citizen or resident decedents (prior to the enactment of the 
Revenue Act of 1934, exemption allowed for resident decedents only). 

Returns for estates of decedents who died prior to 10:25 a. m. 
February 26, 1926, are filed under Revenue Acts passed prior to that 
date and returns for estates of decedents who died during the period 
10:25 a. m. February 26, 1926. through 4:59 p. m. June'6. 1932, are 
filed under the Revenue Act of 1926. Estates of decedents who died 
subsequent to the effective date of the Revenue Act of 1932 (5 p. m. 
June 6, 1932) are subject to two estate taxes, the tax levied under the 
provisions of the Revenue Act of 1926 and an additional estate tax 
imposed bv the Revenue Act of 1932, or bv that Act as amended by 
the Revenue Acts of 1934, 1935, 1936, and' 1938. The tax under the 
Revenue Act of 1926 applies to net estates after deduction of a specific 
exemption of $100,000. Tax credits are allowed for gift taxes paid 
to the Federal Government, and for estate, inheritance, legacy, or 
succession taxes paid to any State. Territory, or the District of 
Columbia, the latter credit being limited to 80 percent of the Federal 



STATISTICS OF INCOME 49 

estate tax after the deduction for the gift taxes paid. The additional 
estate tax referred to above apph'es to net estates after deduction of 
a specific exemption of $50,000 under the 1932 and 1934 Revenue 
Acts, and $40,000 under the Acts of 1935, 1936, and 1938, and is equal 
to the excess of (1) the amount of a tentative tax computed at the 
rates specified in the Act which is in effect, over (2) the amount of 
the tax computed at rates in the Revenue Act of 1926 before deduc- 
tion of the tax credits. The rates of the tentative tax under the 
Revenue Act of 1932 are graduated from 1 percent upon net estates 
not in excess of $10,000 to 45 percent upon the amount in excess of 
$10,000,000. Under the Revenue Acts of 1934 and 1935 the rates 
of the tentative tax are increased, reaching a maximum rate under 
the 1935 Act of 70 percent on the amount of net estate in excess of 
$50,000,000. 

The Revenue Act of 1924 allows as credit against the estate tax, 
the amount of estate, inheritance, legacy, or succession taxes paid to 
any State, Territory, or the District of Columbia, in respect of any 
property included in the gross estate, provided that such credit does 
not exceed 25 percent of the Federal estate tax. Prior to the Revenue 
Act of 1924 this tax credit was not allowed, nor is it allowable against 
the additional estate tax imposed by the Revenue Act of 1932, or 
by that Act as amended. Credit for gift tax imposed by the provi- 
sions of the Revenue Act of 1924 is allowable against estate tax pay- 
able under the Revenue Act of 1924 or the Revenue Act of 1926 
with respect to so much of the property which constituted a gift as is 
included in the decedent's gross estate. For decedents who died sub- 
sequent to the effective date of the Revenue Act of 1932, a tax credit 
for gift taxes paid to the Federal Government is allowed both against 
the tax computed under the Revenue Act of 1926 and against the 
additional tax computed under the Revenue Acts of 1932, 1934, or 
1935. A synopsis of estate tax rates, specific exemption, and credits 
against tax under the Revenue Acts of 1916 to 1935. inclusive, is 
presented in the section of this report entitled "Revenue Acts of 
1913-1937, and certain tax provisions of the National Industrial 
Recovery Act (1933)," pages 196-197. 

The tables are based on the returns as filed and prior to any revision 
or adjustment that may be made as a result of audit by the Bureau 
of Internal Revenue. The tax liability reported does not correspond 
with the actual receipts of taxes during the period for the reason that 
payments may be made at a later date than the filing of the return, 
and that field investigation and office audit may disclose deficiency 
taxes or excess payments which are not reflected in these tables. 

Data included in the following tables are compiled from returns 
filed during the calendar year 1938, irrespective of the date of death 
of the decedent, under Revenue Acts passed prior to 1926, the Revenue 
Act of 1926 onlv, and the combined provisions of the Revenue Acts 
of 1926 and 1932, 1926 and 1934, 1926 and 1935, 1926 and 1936 or 
1926 and 1938. All of the tables, except table 7, contain data only 
from returns of citizen or resident decedents who died on or after May 
11, 1934, and of resident decedents who died prior to May 11. 1934. 
Table 7 contains a historical summary of all estate tax returns filed. 

For the estate tax returns filed during 1938, the net estate classes 
are based on the amount of net estate before deduction of specific 



50 STATISTICS OF INCOME 

exemption (see item 24 in tables 2, 2-A, 2-B, 2-C, 3, 3-A, 3-B, and 
3-C). In reports for prior years the net estate classes were based on 
the size of net estate after the deduction of $100,000 specific exemption 
provided by the Revenue Act of 1926. The new basis for size classi- 
fication of net estate provides a classification the comparability of 
which over a series of years will not be affected by changes in the 
amoimt of the specific exemption. For returns of decedents who died 
on or after 5:00 p. m. June 6, 1932, the net estate and exemption used 
to determine the basis for net estate classes are those provided under 
the Revenue Act of 1932, or that Act as amended. Consequently, 
it is possible for the first time to distribute by net estate classes the 
returns which are subject only to the additional tax imposed by the 
Revenue Act of 1932, or that Act as amended. 

The classes$l,500,000under$l,600,000, $2,000,000 under $2,100,000, 
etc., inserted in the following tables at the boundaries of the net estate 
(before specific exemption) classes of $1,500,000 under $2,000,000, 
$2,000,000 under $2,500,000, etc., are for purposes of rendering the 
tabulations comparable with those in the Statistics of Income for 
prior years. 

The deduction items tabulated for returns of decedents who died 
on or after 5:00 p. m. June 6, 1932, are those allowed under the 
Revenue Act of 1932, or that Act as amended. In reports for prior 
years the deduction items were those allowed under the Revenue 
Act of 1926. Consequently, the items "Property previously taxed 
within five years: net deduction," "Specific exemption" and "Total 
deductions" are not comparable with similar items tabulated in the 
Statistics of Income for prior years. The deduction items "Net 
losses during administration" and "Support of dependents" are 
shown separately in this report for the first time. In reports for 
prior years, these two items were included in "Debts, mortgages, etc." 

In this report both taxable and nontaxable estate tax returns are 
classified by gross estate classes for the first time (see tables 3, 3-A, 
3-B, 3-C, 4, 4-A, 4-B, and 4-C). Gross estate for this classification 
means gross estate plus tax-exempt insurance. Insurance receivable 
by beneficiaries other than the estate, not in excess of $40,000, is 
tax-exempt. 

In reports for the current year and for last year, the amount of 
gross estate includes the amount of net insurance, but not the amounts 
of gross insurance and tax-exempt insurance. In the following tables, 
except tables 5, 6, and 7, the amounts of gross insurance and tax- 
exempt insurance are tabulated as information items under "gross 
estate" (see items 11 and 12), and in the Statistics of Income for 1936, 
Part 1, the gross insurance and tax-exempt insurance were tabulated 
as information items at the end of the tables. In the Statistics of 
Income for 1935 and prior years, gross estate included the amount of 
gross insurance and the "Insurance exemption" was tabulated as an 
item under "Deductions." 

Table 1 , which is in the nature of a summary statement, shows the 
number of returns, gross estate, deductions, net estate and tax liability 
for taxable and nontaxable returns for citizen or resident decedents, 
classified according to the Revenue Acts under which the returns 
were filed. 



STATISTICS OF INCOME 51 

Data for the taxable returns in table 1 are presented by net estate 
(before specific exemption) classes in tables 2, 2-A, 2-B, and 2-C, 
and by gross estate classes in tables 3, 3-A, 3-B, and 3-C. Table 
2 is a summary ot tables 2-A, 2-B, and 2-C and table 3 is a summary 
of tables 3-A, 3-B, and 3-C. Tables 2-A and 3-A contain data 
for taxable returns for citizen or resident decedents who died on or 
after August 31, 1935, tables 2-B and 3-B contain data for taxable 
returns for citizen or resident decedents who died in the period May 11, 
1934, through August 30, 1935, and tables 2-C and 3-C contain data 
for taxable returns for resident decedents who died prior to May 11, 
1934. In tables 2 and 3 data for taxable returns for decedents who 
died before 5 p. m. June 6, 1932, are distributed by size classes, but in 
tables 2-C and 3-C they are not included with the returns filed under 
the Revenue Act of 1932 (see last two columns of tables 2-C and 
3-C). 

Data for the nontaxable returns in table 1 are presented by gross 
estate classes in tables 4, 4-A, 4-B, and 4-C. Table 4 is a summary 
of tables 4-A, 4-B, and 4-C. Table 4-A contains data for non- 
taxable returns for citizen or resident decedents who died on or after 
August 31, 1935, table 4-B contains data for nontaxable returns for 
citizen or resident decedents who died in the period May 11, 1934, 
through August 30, 1935, and table 4-C contains data for nontaxable 
returns for resident decedents who died prior to May 11, 1934. In 
table 4 data for nontaxable returns for decedents who died before 5 
p. m. June 6, 1932, are distributed by gross estate classes, but in 
table 4-C the}^ are not included with the returns filed under the 
Revenue Act of 1932 (see last two columns ot table 4-C). 

Table 5 presents the total number of returns, the number of non- 
taxable returns, and selected data for taxable returns for citizen or 
resident decedents, distributed by States and Territories. 

Table 6 shows for all returns of citizen or resident decedents^ the 
value of the real estate reported as an item of gross estate, classified 
by the State in which the return is filed and by the situs of the real 
estate. 

Table 7 is a historical summary of all estate tax returns filed 
September 9, 1916, through December 31, 1938. 



52 



STATISTICS OF USTCOME 



Table 1. — Estate tax returns,^ taxable and nontaxable, by Revenue Acts under which 

net estate, 

[Money figures in 

(Returns filed during 



Se- 
rial 
No. 



All returns 



Total 



Taxable 



Nontaxable 



24 



Number of returns. 
Gross estate: ' 



15, 932 



13, 220 



2,712 



Real estate 

Investments in bonds and stocks: 
Federal Government bonds: 

Wholly tax-exempt ' 

Partially tax-exempt ' 

State and municipal bonds 

All other bonds 

Total bonds 

Capital stock in corporations.. 



Total bonds and stocks 

Mortgages, notes, cash, etc 

Insurance, gross 

Tax-exempt * 

Net insurance (11 less 12). 
Miscellaneous ' 



464,383 



392, 781 



71, 601 



83, 618 
108, 566 
220, 464 
197, 804 



82, 842 
103, 308 
216, 578 
188, 550 



776 
5,258 
3,886 
9,264 



610, 452 
1, 273, 672 



591, 278 
1, 218, 372 



19, 174 
55, 300 



1, 884, 124 

429, 652 

163, 982 

94, 199 

69, 783 

199, 035 



1, 809, 650 

397, 691 

136,114 

75, 283 

60, 832 

183, 158 



74, 474 
31, 962 
27,868 
18, 916 
8,952 
15, 877 



Total gross estate. 



3, 046, 977 



2, 844, 112 



202, 865 



Deductions: 

Funeral and administrative expenses 

Debts, mortgages, etc 

Net losses during adminislration 

Support of dependents 

Charitable, public, and similar bequests 

Property previously taxed within 5 years: Net deduction i 
Specific exemption " 

Total deductions 



156, 845 

317,315 

348 

22, 347 
200, 036 

48, 214 
640, 650 



145, 161 

205, 995 

297 

20, 875 
169, 145 

47, 410 
530, 640 



11,684 

111, 320 

52 

1,471 

30,891 

804 

110, 010 



1, 385, 755 



266, 231 



Net estate: 

To which rates of the 1924 or prior Acts apply ($50,000 ex- 
emption). 

To which rates of the 1926 Act apply ($100,000 exemption) 

To which rates of the 1932 or 1934 Acts apply ($50,000 ex- 
emption). 

To which rates of the 1935 Act apply ($40,000 exemption).. 

Tax: 

Under Act of 1924 or prior .\cts 

Under Act of 1926 

Under Act of 1932 or 1934 

Under Act of 1935 



288 

1, 264, 988 
3,523 

1, 719, 645 



1, 264, 988 
3,523 

1, 719, 645 



4 

16, 560 

134 

297, 922 



4 

16, 560 

134 

297, 922 



Total tax liability on all returns filed during 1938. 



314. 620 



314, 620 



1 Excluding returns of all nonresidents (aliens and citizens) who died prior to Mav 11, 1934, and returns of 
nonresident aliens who died on or after May 1], 1934. Section 403 of the Revenue .4.ct of 1934 brought non- 
resident decedents who were citizens of the United States under the same provisions of '^he estate tax laws 
as are applicable to resident decedents. 

' Estates of decedents who died on or after Aug. 31, 1935, are subject to two estate taxes, the tax levied un- 
der the provisions of the Revenue Act of 1926 and an additional estate tax levied bv the Revenue .A.ct of 
1932. as amended by the Revenue Acts of 1935, 1936, and 1938. Returns are required "to be filed if the gross 
estate exceeded $40,000 in value at date of death. Detailed tabulations of these returns are found in tables 
2-A , 3-A . and 4-A. For statement of rates, exemptions, and credits contained in the provisions of these Acts, 
see pp. 196-197. 

3 Estates of decedents who died in period May 11, 1934, through Aug. 30, 1935, are subject to two estate 
taxes, the tax levied under the provisions of the Revenue Act of i926 and an additional estate tax levied by 
the Revenue Act of 1932, as amended by the Revenue Act of 1934. Returns are required to he filed if the gross 
estate exceeded $50,000 in value at date of death. Detailed tabulations of these returns are found in tables 
2-B, 3-B, and 4-B. For statement of rates, exemptions, and credits contained in the provisions of these 
Acts, see pp. 196-197. 

« Estates of decedents who died in period 5 p. m. June 6, 1932, through May 10, 1934, are subject, to two 
estate taxes, the tax levied under the provisions of the Revenue Act of 1926 and an additional estate tax 
levied by the Revenue Act of 1932. Returns are required to be filed if the gross estate exceeded $50,000 in 
value at d.ate of death. Detailed tabulations of these returns are found in tables 2-C, 3-C, and 4-0. For 
Statement of rates, exemptions, and credits contained in the provisions of these .\cts, see dp. 196-197. 

5 For decedents who died in period 10:25 a. m. February 26, 1926, through 4:59 p. m. June 6, 1932, returns 
are required to be filed under the Revenue Act of 1926 if the gross estate exceeded $100,000 in value at date of 
death. For decedents who died before 10:25 a. m. Feb. 26, 1926, returns are required to be filed under the Rev- 
enue Act of 1924 or prior Acts if the gross estate exceeded $50,000 in value at date of death. During the cal- 
oudar year 1938, theie were filed under the Revenue Act of 1924 or prior Acts only 5 returns, all taxable. 



STATISTICS OF INCOME 



53 



returns were filed: number of returns, gross estate by form of property, deductions, 
and tax 



and tax 

thousands of dollars] 

the calendar year 1938) 



Returns of citizen or 


resident decedents ' 


Returns of resident decedents 




Filed under Revenue 
Acts of 1926 and 1935 
as amended by Acts 
of 1936 and 1938 
(death on or after 
Aug. 31, 1935) » 


FUed under Revenue 
Acts of 1926 and 1934 
(death in period May 
11, 1934, through Aug. 
30, 1935) 3 


Filed under Revenue 
Acts of 1926 and 1932 
(death in period 5 
p. m. June 6, 1932, 
through May 10, 
1934) * 


Filed under Revenue 
Act of 1926 or prior 
Acts (death before 5 
p. m. June 6, 1932) » 


Se- 
rial 
No. 


Taxable 


Nontaxable 


Taxable 


Nontaxable 


Taxable 


Nontaxable 


Taxable 


Nontaxable 




13, 106 


2,619 


50 


46 


45 


35 


19 


12 


1 


387, 802 


67,097 


2,517 


1,827 


1,464 


1,955 


998 


723 


2 


82, 619 
102, 891 
216, 395 
187, 735 


775 
5,128 
3,765 

8,771 


48 
202 
117 
227 


(12) 

112 
88 
272 


9 
148 
37 
274 




166 

67 

28 

315 


(U) 

1 


3 


17 
33 

85 


4 
5 


125 


6 


589, 641 
1, 214, 288 


18,440 
53,518 


594 
1,093 


472 
480 


468 
1,422 


135 
746 


575 
1,569 


126 
556 


7 
8 


1, 803, 928 

394. 775 

135, 229 

74,844 

60, 386 

181, 698 


71, 957 
30, 699 
26, 605 
18,482 
8,123 
14, 558 


1,687 
1,344 
259 
175 
84 
642 


953 
388 
818 
197 
621 
710 


1,891 
1,298 
523 
185 
338 
446 


882 
410 
319 
172 
147 
517 


2,144 

274 

102 

79 

23 

371 


682 
465 
126 
65 
61 
92 


9 
10 
11 
12 
13 
14 


2, 828, 589 


192, 434 


6,276 


4,498 


5,437 


3,910 


3,811 


2,023 


15 


144,204 

203. 090 

297 

20, 836 
169, 103 

47, 175 
524,240 


10, 887 

104, 195 

33 

1,409 

30, 015 

384 

104, 760 


404 
1,532 


375 

3,506 

3 

42 

321 


352 
906 


259 

2,977 

11 

14 

257 


200 
467 


164 

642 

4 

7 

298 

420 

1,200 


16 
17 
18 


16 

14 

135 

2,500 


12 

26 

40 

2,250 


11 
1 

60 
1,650 


19 
20 
21 


2,300 


1,750 


22 


1, 108, 944 


251, 683 


4,603 


6,547 


3,587 


5,267 


2,390 


2,734 


23 














288 
1,133 




24 


1,262,734 




411 
1,673 




711 
1, 850 






25 










26 


1, 719, 645 












27 






























4 
14 




28 


16,540 




1 
64 




5 
71 






29 








30 


297, 922 






1 


31 


314, 461 




65 




75 




18 


1 


32 








1 





9 The following items are distributed by form of property: Jointly owned property, $99,458,402; transfers 
made in contemplation of or intended to take effect at or after death. $130,755,889; general powers of ap- 
pointment exercised by will or bv deed in contemplation of death, $14,252,325; and property from an estate 
taxed within five years, $80,315.4"86. For statistics from estate tax returns filed during 1928-1932, "jointly 
owned property"' only was distributed in this manner. 

■ The interest on wholly tax-exempt Federal Government bonds is exempt from both the normal tax 
and surtax of the Federalincome tax; the interest on partially tax-exempt Federal Government bonds is 
exempt only from the normal tax. United States savings and Treasury bonds, of which the interest on a 
principal amount not in excess of $5,000 is wholly exempt, are included in partially tax-exempt Federal Gov- 
ernment bonds. 

' Amount receivable by beneficiaries, other than estate, not in excess of $40,000. 

• Includes debts due the decedent, interest in business, claims, rights, royalties, pensions, leaseholds, 
judgments, shares in trust funds, household goods and personal eflects (including wearing apparel), farm 
products and growing crops, live stock, farm machinery, automobUes, etc. 

10 The basis for the valuation of property previously taxed is the value as finally determined in case of prior 
decedent or donor, or the value included in the gross estate of present decedent, whichever is lower. Subject 
to certain conditions and limitations, the net deduction for property previously taxed is such value less a 
proportionate reduction. This reduction is the proportion of total deductions except previously taxed prop- 
erty, which previously taxed propertv bears to gross estate. The net deduction for property previously taxed 
for returns of decedents who died on or after 5 p. m. June 6, 1932, is the deduction computed under the 
Revenue Act of 1932 or that Act as amended, and not the net deduction computed under the 1926 Act. 

» Specific exemption under Revenue Act of 1935 is $40,000, under the Acts of 1934 and 1932, $50,000, Act of 
1926, $100,000. and Act of 1924 or prior Acts, $50,000. 
'2 Less than $500. 



54 



STATISTICS OF INCOME 



>-S 



"»i s 



2 <2 



•o>i iBijag 



I -^ 



CO'^iCC: t^OO OiO'-'C^lCO'*}* 



»0 CD b- QO OS O -— ' "M fO 



•OM it?U8s 



CD C^ M 00 OS CO 



-H CO CO 



OS to O Ol 
Ol lO C^ w 

O 00 o o 



t-^ -— ' CO CC ^- CO 

C^ CO O CO CO ic 
rf OS CO lO CT' Oi 

t-^osco coco oo" 



c-1 CO CO r-- OS Ci 

■^ O lO CC CO OS 
00 O CO CC" CO -^ 



QO 00 -^ O) OS i-" 

r- --- -rt* c I '* iri 
r^ 1— I OS o I 00 CO 



r-l CO t-- 



T-i .-H lO CO I C-l ' 



3 -^ 00 CO O CO 



T-t oun 



o »o in o I OS ^ 

0*0 ^O .-• I N lO 

OS 01<0 CD I r-( '^J^ 



I^ TJ* lO I OS c 



o 00 r-- CO o t^ 

t^ 00 "^ »0 OS -^ 



00 '— ' C^ CO ic .-- 
O CO — ' '-' 



OS lO o o ooo 

00 -^ OS OS O h- 
<N O O 1^ CO CO 



h-(N ^ <-H OS r^ 
Tf lO c^ — « ,-< 



CO r^oo b-^ (M 

lO. 1-- Tf (M 01 OS 
OS 00 *0 CO Ol CO 

tCc<»csod'**'o 

t^ CO '-' •-* 



OOO OC CO »o o 

00 '^f Tt« »0 OS CO 

to CO OS 05 OS ■— < 



i-H I w CO r OS'*?* T 



(M 00 r^ I-' to CO ko 



■*}< t^ CO '^J* 



to c^ to -J 

O -^ to CO 
•^ C^ 00 o 



M" o: OS ■^ -^ CO I 00 
CI CO oi -r oo to i c 

OS to CO O <N ^ 1 O 



coco I C^N— ^OC'COOS 



to i-H O. CD ^ 



Oi r— CD oo r- t^ 

to to to OS to —I 

00 CO o o os*^ 
h^oo CO o: CO OS 



i-H Tt^ 1 to CO '-' 



<M 00 OOO 
-^ O I~^ to 
00 CO to tc 

cfco co"or7 

* "i — ' 00 



GO -O '-' 00 



O — ' '^ CO iM 00 I (M 
to OS — ' OO CO to I 1-H 

CC CO '-' CN CO ■^ w 



OS h- CO to C CO T?- 

o OS CO r^ CD 00 ] 'rf 



00 w r-i (M w c: 

CO C^ T-( t-* 1-H to rf- 



GO CO --H t^ O CJ _ 

.-- r- .-( O CO CO ^ 

(NO CSI CD C^ 



.— ( CO CD '— ' OS CO _ 

CO (N (N CO CJS to OS 
<N CO OS OS CD " 



CO OS ^ •— ' OS to 
40 OS 1-" C^ OS CD 
O CD to OS '^ 



CO o CO r- i— ' c-J 

00 CD CI O^ O 



00 CD <N CO r^"^ 
CO CD i-H .-' OS OO 



^ OS i-i t^ lO 



OS r-- <N to d *o 



O •-' -^ CO CO 



CO b-t-H IM 



iM b- O CO O to 
■^ CO 04 CO OS t^ 

to o r-coTj' 



^ OS <N CO •-' -^ CO 






^ X =3 

^ a; C 



^ o a 03 






£ t. C o 
C" ca cax: 

03 — 



T3 j::" 

§1 



a ^ ^ i; 

g o c £■ I 



on go c 5-c t 



E 3 



o tc " ' 

^ « a >< 

^ 1-fH 



\2 =- 



MM-ICCC t^OO OSO^C^ICO- 



g g bc as 5 
3 c x; *2 a c3 t' = 



to t^ 00 Oi O ^ C>J CO 



. rt „ rt _H r-l rf_HrtrtC^(>J 



STATISTICS OF INCOME 



55 



■-t* lO 


^ 


1~ ocos o 


r- (M CO 


■^ 






1 


,_t 


o» 


eotj-ioco 


t^oo 


OS -H Ol CO -«• 


to 




cq oj 


c^ 


C<I(M<M CO 


CC COCO 


CO 




•OKI^WQS 1 










" 


2o 


CO 


■^ -^ o t^ 


^ 01 M 







1 




«g 


to 


OS 


-»• cst^oi 


cct~ 


oscoo) oqo to 


CO 




S- 


>r5(N (MO 




CO 






Ol 


S2 


lOOCtO^ 


S"* 


OOOCD-<»<CO 


oq 




OS —1 


Oi 




TJ^ ■^'' 


O) 








00 


»-" --I OS 

-rof->j<"of 


OS ^ 

o"co" 


-- -* CO -- i-t CO 

t-fcc of 


to 




?J00 


o 




















01 


cc 














































oi^ 






























"^ 
















»o 00 


>o 


C^CCfO Oi 


>o too 


OS 


a 

2" 





to 


cooooo 


t^oo 


CO— 1 tOCONOS 


~co~ 




gs 




(N -^ ^ 


-?• coi=! 


t^ 






cq 




-H to r- 


-<J> OJ 


t^ CO ■* OS to 


■^ 




'-'_^ 


«5 OW 


CO CO 


00 








CO 

of 


CO to coco 


-^0 


^ -* cc -«> 00 CO 


CO 




rCpo" 


cf.-r 


to-- 


CO CO of t-Tof 




oc^ 


t^ 




cq ?3 


c5 
















oq 




c^-^ 








































































'^ 
















o -^ 


Q 


mioooo 


00-*-*l 


(M 


U4 


N 


CO 


Oloseo-* 


00 t^ 


•«** 10 OS 1-1 CO 


C3S 








lO cooo 


00 C^l CO 


to 






■a 

a 

32 


CO 


CO 


^^ 00 OS OS 


-fO 




00 




CO CO 


!^- 




(M C^ 
C-f (N 


of 




■0 




■<(<■" 


eq CO CD CO 


Ot)< 


to •* to cc »-H OS 


•* 

OS- 




o -^ 


.-r.-fcoof 


os-cT 


OOCCrH ,-r^- 




os 










•a 


2 












Ol 


CO 














as 


3 


















' 










fl 


a 


























a 


!5 































a 





















r^ (M 


t-- 


o ^ o cc 


CO ^ IM 





^ 


-* 


■* 


OS 00 too 


•*o» 


CO OS oq 00 too 


^ 


1 


c5^ 




(M cn <ji 


^C-J 01 







■* 


oq 


0000s CO 


010s 


"* ^ ^ 00 01 to 


CO 




CC Tf 


■^ 


^ cc 


•0 rf 


to 


D 


I 


■ao 




oq 


t-H r^ CO 


CO 


ir~ oq oq -* t-- C3S 


00 




CO c^f 


cT 




of M 


of 


1 




CO 

30, 




CO 


ofi-H-aTcc" 


--^■•3^ 


lo'io-r-T CO 


oo" 




CI -3* 


s 


















-1 01 


CO 


■d" 




C-) 












§ 
a 

> 


CO 

OS 
'S' 


















00 ^o 


00 


(M OlC^ 


10 CO Oi 


01 


Ui 





CO 


•<}* h-Tj^ CO 


rt rt 


oq -- oscocc 


-* 




»0 05 


■^ 




CO ,-1 ^ 


01 


C3 


-* 


<J> 


to t^ 00 CO 


000s 


t^COCO -* 00 


CO 






o 








_o 


-c 







0» OS OS OS 


rt 10 


t-o X oq too 







2" 


8 


O 


Tf" -«<' 


^~ 


a 
S 


122 
3g 




CO 


1-t of of 


"S" 


of cc rt 


-*»« 
















a; 




























CO 


X 










































































y—l O 




lO 1 Tft f-H 


r^ ,-t CO 


t^ 




«3 




cc 


OJ 


00 CO-* 00 


10 oq 


t^ 00 CO 00 CO CO 


CO 




■*^ 






OS S 


05 







s 


t^ 


cq 


C3S t^co ;3s 


CO 1^ 


1^ to 00 CO 







Oi >o 


CO 




00 00 

cf of 


00 

of 







■a 

3§ 




t-^ 


CCI^OOt^ 


0010 


-* oqcooorr 


OS 

o" 




c^ 


.-r.-rio"-*" 


CO tj^ 


oo'tCof i-To" 




o 


t^ 
















rt CO 


■* 


t- 














a 


1 

0) 














































00 1^ 


00 




CO —KN 


CO 


a 




b« 


cc 


00 


cc-^ t^co 


-* OS 


CO C: OS -f to 


to 




(M — ■ 


o 




>o 


to 




CD 

1 


a> 


00 


CO 


cor~— ■ oq 


TfCO 


— TT oq — — cq 


CO 




00 rf 


otT 


■ ^-, 


t^ t^ 


l^ 









00 


•* 00 to OS 


f-O 


00 -* to to ooq 


cc 






CO 


rH of toco' 


co-oc' 


^'00^ ^-^ 




o 


(N 


1 ^ 


















t^ 


















































CO 




























^ 


















00 o 


00 




00 00 


00 






■* 


cc 


CD to COCO 


t-tO 


oq -H i-~ oq 10 00 


OS 




M< »-H 


"^ 




ira irj 








« 


■^ 


CO 




10 1^ 


CO — " t^CD — - OS 






OS 


r* 


^J^^j^ 


OJ Ol 


OJ 






OS 







of 


S^Sg 


OS to 


tOOCDCO t^ 


-a- 
of 




cc 


-^--^t-^oo' 


^^ 


CO -H CO —T of CO 






^ 


E.L0O 

















oq-* 


CO.-I 


OS 

















































to 
















oo 


a> 


tC CC-) ■* 


00(M CO 





1-1 


« 


cq 


000 CO —1 


MO 


oooq— ■ — ■ ot- 


OS 




(M W 


oo 


00^^ 


OOcOiO 


O) 






® 








tO-S" COI^ 


COOO 


— lOCOOCO to 


OS 




(N IM 




ic!=.00'O 
«D Oi CO 


C-1 !N 

00 00 


CO 






3g 



01 




CDOCOO 


-* r-< 


CO OS oq -<j* 00 


to 

00 




io">o" 


r-f TjTtO C5 


-Tof 


ccofco"oq"co"co 




S=° 




S tar^ 


OS OS 














Olio 


t^-H 







c^ c^ 


t^ 




C^ OI 


CO 




















(Ni-h" 


^ 





























■ o 


^ 
























'O 


o 
























SJ°- 


< 
























"S 


lO 


























CO 
























3«» 


OS 


















































"H.^^ 


























>> 


fc-< 
























cc ^ 


o 


























'^ 




if ; ; ' 




















«!! 






< i '; ; 


CO 


















io " 


2 




to ; ; ; 


CO 


















c-^ 


c^" 


1 1^' i 


OS ; gj- 


3 












io ' ' ' ' 


'en ' ' ' ^..-L ' 




.2 2 
a® 


o 


i 2 : 
i is ; 


I Ml 














Mm 1 ' ' ! 

■«_§«ag . 

•o-^agX! : 


; : I i ;2 1 
'-2 ';!;«; 




a£ 


o 


^ c: -*j w (N 


OS ]- m 


>. 












O-S ^ 

1 a -j^ , l;:^ ; 




go 

■§2 

c -s 


1 


OS 1 * -^ 

•s°£o 


.2 

X 

C3 










a 

s 


a> 


> 

a 


ao a«cn-k^S,c 

c° |^S5-Sts 


s 

a 



■3 



II 




S a: oi 'I 


tH 








1 



s 


11 

ca ai 




^ g. Ch « B >< i2 

t; tlH S 

E •- 


■g ■£ 


OJ C3 03 


C3 


T! 










3 


t-t 








^^; 


:z: 


t- 


<; 










^ 











-*• iC 


o 


t^ 00 05 


— 1 N CO 


■^ 






IBUOS 


^ 


eq 


CO-* to CD 


t^OO 0SO--01C0-* 


to 






e-> eac^SD 




CO 




■ON 












'^ 





56 



STATISTICS OF INCOME 



p -s 









COt^OC C5 o — 


CO 


CO 


^~ lO 


o 


l^ooos o 


-J CO CO 


■^ 




ON IBtJas 


^ ,-< ^ r-l (N N 


N 


CO 


M C<l 


CO 


cj coco CO 


CO CO CO 


cc 






1^ 


occ 'imt)< r- 


o 


OS 


CO 00 


00 


OS ' t^ CO CO 1 CO 


lO 






00 t^ . ic o 


o 




o o 


o 


O 1 »o IC 


CO iCO 








Sg 


;Ot^ 1 •* 


o 


c:s 


CO t^ 


CO 


lO .—1 CO 


t- t^ 


o 


























3^ 






■* 


— oo 


o 






CO 












CO CO 


CO 












§f 






















— ' 


















P2 


lOOO ' ^ U5-^ 


o 


CO 


w CO 


^ 


CO 1 CO CO 


1^ t^ 


■«** 






00—1 1 t^oco 


o 






CO 


OC iOO OS 


CO .CO 


to 






MO ■ CO 


00 


■* 


00 00 


o 


OS t t^^ 


00 '00 


o 






^S 


rHC<f 1 




>n 


-Tos- 






CO ' CO 


•^'' 












co rt 


CO 












s- 












































'-' 


















3° 


1-ICO 'oO Or-1 


o 


CO 


r-co 


t^ 


t^ 'o^ 


OS . OS 


^ 






1-t CO I CO lO*^ 


00 


CO 


CO ■»** 




O ICOOS 


•^ . M« 


■rt^ 






(M 


OS 

co" 


00 CO 

co-o" 


co- 


■* '—ICO 


00 lOO 


<o 




a 










co 








■o 




c ^- 


















<u 




















3 


n 




















a 


O 


^ 




















D 






































a 


J 


(_i 


t-t~ icoNto 


o 


-!j< 


ot^ 


o 


t^ OS 1^—1 


CO lOOO 


Oi 


o 




o 


CO-H lO-H 05 


CO 




t^oo 




iO 0-* 


CO — . 




o 
1 


1/} 


"2° 


00-* KNON 


t^ 


o 


m— 1 


00 


CO COCO 


OS OS 


(M 


g 


(n"co i 


^ 


os" 


-Tt-^ 


OS 


— r i-T 


co" CO 


t-T" 


1 




3°. 








■^ CO 










-£ 


M 










































< 


o 


o> 


















3 




Tt< T-< > OC*** ^ 


o 


00 


coco 


CO 


lOCOOO-* 


CO . CO 


00 


a 




c 


OlOi 1 CO 03 00 


o 


OS 


00 —1 


00 


»o -wo 


CO .CO 


W 


05 


c. 


13 


0000 1 oo-^ 


CO 


t^ 


00 OS 


CO 


CO OSCO 


■* "*< 




> 


a 


02 


-Tin ! —T 


— r 


oo" 


co" OS- 


co- 


^- 


lO ! tri 


O 


(S 


o 










co 












o 


















"3 
a 

3 




00 


















E 




















'3 








lO 














iO05 !oi iOT)< 


o 


CO r^ 


CO 


CO !— ■ lO 


— . 1 — < 


CO 


c. 




00 t^ 1 loeoc^ 


O) 


en 


coo 




C<1 .CO o 


CO .CO 


c^ 


•3 


00 t~ ir-<CD CO 


OS 




— ■ 00 


CO 


00 I-*-* 


CO .CO 


r- 


o 


§1 


CO O 1 CD~ 


<N 


oT 


■^"co 


^ 


— r ! — r 


00- ' oo" 


GO 


T3 


>2 








10-* 


lo 








o 


o 


















s 


o 


o 


















jC 


r^ 








































a 

3 


o 






















OO— 1 t^b-N 


o 


CD 


C3S t* 


a> 


CO 1^—1 


lO 1 ITS 


lO 


C5 




lO lO r^ (M(M 


CM 


w 


cor^ 




■^ 1 t^r^ 




o 


■© 


"ot 


-a 


^tO (M t^ t~ 


CO 




IQCO 


CO 


CO iCOCO 


00 !oo 


c^ 


« 


o 


Sg 


eo-^" t^ 


co^ 


c" 


co"io" 


cs" 


— r 1 — r 


tC , tC 


00 




:! 








io-a< 


<n 




























Ld 


(N CO 00 o r^ 


o 


00 


CO-I 


CO 


OCO— 1 00 


t^ot^ 


iC 






O 


t^O COtO — 1 


CO 


lO 


CO o 


CO 


eoMioio 


■* CO ^ 


t^ 






•a 


OO CO t^(N 


•^ 


CO 


lOCO 


t-~ 


rt CO^ 


OS o> 


co 






CO 
3g 


lOlOC rt-H 


iO 


OS 


00' •* 


co- 


CO- — r 


cf o 


^ 






c^ 






f~CO 


t^ 






»— 1 






o 






















s 






















^ 


OS— li-H t^oo 


o 


00 


— .M< 


^ 


coo >ooo 


OS-* »/^ 


^ 






o 


■^ to t^ CO lO 


•^ 




CO-* 


CO 


00 CO OS CO 


CD -* CO 


Oi 








^H OS »COs M 




o 


1^ t~ 


lO 


O lO TJ1 


iO lO 


C5 






3g 


lOlO TjTcf 


00 


1-^ 


oToT 


^ 


CO- -H- 


— r — r 


^ 










CO 


00 CO 


00 




—1 — t 


.— ( 


















































^ 














1 
















1 o 


^ 




















o 
















. 1 , . iT3 






?f°- 


■< 




















CO ^ 
















1 1 1 1 1 cl> 






j^O 


uo 














i i i i i^ 






^ >1 


OS 

t-* 














'■'''§ 








o 














: 1 ;sg 

' 1 1 1 m >> 






CO "5, 

m a 
^i cS 


S5 




_^ 1 i 1 










i i ; iS"' 








C3S 




■<.';! 










a 1 aj d 






s^ 


CO 














listrative expe 

3tC 

drainistration 
ints 

and similar b 
y taxed withi 










CO 












•2 2 
acB 

es 


C33 


192fi or prior Acts: 

fore tax credits 

edit for gift taxes n 

edit for inheritance taxes 
,x (27 less 28 and 29) 


i32, 1934 or 191 

axes " 

X (31 less 32) 


CO 

3 

a 

S 








Ctions: 

uneral and admin 
lebts, mortgages, ( 
et losses during a^ 
iipport of dependc 
haritable, public, 
roperty previousl 


B 
2 o 


a 
_o 

■5 

o 


cc £; 

in o 

£3 
52 


s 

H2 


tax under 19 

nnal tax 

adit for gift t 
additional ta 


s 

.2 

X 

i 








CO 


"5 
o 


'ca 03 


2 Oo 

est 


nder 
ax be 
ax en 
ax en 
Ta 




o 








3fe,RZ;MCi(iH 




o » 


^i^b^b' 


S-^^ 










•c 








X-u C 




•a 
















CD O 


03 


C3 


■o 










Q 






zz 


^ 


t^ 


< 






*OM 


IBuag 


CO t~oooso ^ 


CO 


m 


Tt< IC 


CO 


t--00 OS o 


— < C^ CO 


^J" 




*-*> 


— 1— '"— ICON 


CO 


CO 


COCO 


CO 


CO CO CO CO 




CO 



STATISTICS OF INCOME 



57 







1 


,^ 


IN 


CO^ lO CO 


t^ 00 


OSO-HCMCO-* 


*0 


CO t^OOCSO 


,„, 


CM 


CO 


■* O 




■ON p3U9g 












■"^ 


_ _irt « CM CM 


CM 


CS 


CM CM 






M 


lO 


lO 


t^ 'iO« 


^ CD 


r^ -^ lo -"^ ^ CO 


TJ- 


1^ ^ 1 CM CD CO 


O 


00 


r^ lo 






T3 




00 


OO iiO CM 


1^ »o 


CM (MCOIOOCCO 




OS CD 1 00 cn lo 


o 


00 


CO l^ 








o 


•O i>OCO 


•^ I^ 


CM r^ CO CM r-H 


■^ 


lO CO 1 Tf -^ 


CM 




— CO 








^ 




'-^m 


IC3 CS 


f^ 


,-r '. oT 




N- 


>ra-* 














•V 


■* CM 


CO 


' -v 




lO 








O 


























M 






















t^ 


OS 


en 


oosot^ 


CO CM 


wcoooooor* 


W5 


rf OS i —1 CO 1 


O 


00 


i~-t~ 










o 


■«<■-( CO Tf 


coco 




»o 


OS-«< 1 1^ 1 


CO 


r~ 


CO CO 








00 


en t~o 


coo 


CO m -fl- — 1 CO lO 


00 


inS . CM 1 


CO 


t-* 


■■r la 








cf 


■ ■^'" 


<or~r 


CO ^ 


CO 


l-i T-T 1 1 




CO 


ic rj^ 














CM 


CM 








CMCS 






o 
























■o 


IM 
























CO 


IM 


C^-Ht^cD 


«lO 


--• 00 »0 I lOTt* 


O 


co>n ' 'CM i 


o 


CO 


t^r^ 








n 


1Ot»"00>C 


coco 


OCM ■ •* 




t^CM 1 .rt . 




CO 


o: CS 


"O 


3 




o 


CO OICO 


ooo 


ost^ 1 e^ 


s 


•* CM 1 ICO 1 


T-H 


■* 


lOCM 


a 


a 

'a 




"^ 




of-* 


CO ' 


00 






-'' 


t>."t^ 




o 
























a 

o 

o 


D 
J 


cf 






















s 


00 


^ 


t^OOCOTj" 


■"J'OS 


^t^«0-CM 


•<J« 


lO — 1 ' CS OS 1 


o 


CM 


CS CS 


1 






t~ 


oocooco 


OS OS 


OS OS CD 00 00 00 


CM 


C^l t^ 1 o >0 1 


M 


t^ 


r^r^ 




a> 


1§ 

o 






lOrH COt- 


005 


o r^ OCM t^r^ 


OS 


Ort irt CM ■ 


r* 


CO 


CMM< 


< 

i 


1 




CO 


C-fi-.- 


CM 


ic *r5 T-H ^ 

CO 


CO 


CMCO ' 1 




CD" 


—■os 
■<}>CO 


'a 


e<r 












































> 


ft 


te 


o 


r^ 


CM t^T)i 00 


^^ 1-^ 


CM CMCDCC CCD 


t^ 


CM OS ■-(— ilO '• 


o 


r~ 


o o 


a> 


^o 






O-H t^iO 


U3 ^ 


CD »0 CO CM --H CM 


00 


^H o -<r 1 


o 


CO 


CM CM 


« 


a 




OS 


O C<) t^ »o 


>o >o 


CO U3 


lO 


O^ TJ. I 


■* 


CM 


t^ t^ 




s 


32 




^.^ 


rtrt" CO 


cc'co" 


CO'-H 


cc 


T-^CO i-h' 1 




CO 


ooT 




M 












CM 


CM 








CM y~t 


03 


o 


o^" 






















Ui 


o 






















o 


<o 






















■O 




c^" 






















§ 


1 


























Oi 


Ol 


OS cnrt rt 


0-* 


Tf »or^ CO -^ ^ 


■^ 


t^ CO 'CD -^ CM 


Q 


CO 


—■00 


■a 




M 


o 




coco 


CDtJ. — . o — OS 


CM 


r^ TJ4 I CD ^ CD 




c^ 


CO CO 


f- 




00 


■»> OS C-)CO 


en CO 


lO I^ CO CO CO 00 


„ 


.- "O ■CO'C >o 


>o 


t~ 


—ICO 


3 




=•8 




■^ 


■!rco"t-^co" 


oc'i^ 


co-o -<" 




CO »d" 1 i-Tco 




lo 


O CD 








— ■* 




00 








t^cD 


m 


Oi 






















a 


X! 






















u 


























a 


a> 


'-' 






















5 




^ 


t^ 


00 COC-IO 


TT -^ 


t^cD C O O C 


c 


00 rt >o ' O C-1 


o 


CO 


■*OS 




CO 


CM OS lOiO 


CM t^ 


OS CM c: CO CO CS 


OO 


OO OS CM ■ ■<3' ■'^ 


•^ 








« 




00 


co^^os 


lO 00 


CO -* TJ< — 1 CO t^ 


t^ 


CO « .CO — 


■* 


r-i 


O OS 




[* 


Co 

3to_ 




'^ 


CO 


wfco 


os"-^- 


?( 


r-I" . TT 




t-T 


t-TirT 




:z; 
























I- 


M 


00 


00 >0 M CO 


c^-* 


coco C^C — OS 


00 


CDO icO CO Tl 


o 


CO 


IC »c 








C) 


00 


CM — • -H 00 


Tj" -- 


IC C>J I^ O CM O 


OS 


CM o 1 CO r^ 


00 




CD CO 










o 




■*00 


CM t~ >0 — c ^ ■<)< 


00 


CO O ' — ' c^* 


00 


s 


00 CO 








^ 


co~cs ■^'cJ' 


cm'co" 


oTco i-T ^c^ 


tvT 


J-^ ^ \ ^ 




CD 


-Tos- 














CM 


C" 








co CS 






O -h" 


























O 


























■^ 


























»-l 






















f-i 

■§ 

3 5 


>o 


o 


00 00 IOC 


— -H 


C>> — M CO OS rt 


^J* 




^ 


o 


OS o 






w 


ca 


-H CM OS^ 


ICIO 


O »0 OC CO ^ ^ 


o 


C — • 1 tJ C.5 — 




00 












c^ ic coos 

^"t-Tco CO 


CO ■* 

co"co 


00 CD Tf CS CM CD 

cc'co" ■*" 




cc X 'r-.0000 

COt^ 1 TjT 


o 


00 


Srr 












—ICO 




CD 






CM 


coco 




















; ; ; ; :^ 






■o 




























'-^C 






















:z 






sg 






















to 






Kg 




























»— €*3 






















s 






ft<s 






















!>, 






CO >> 


























c^»— 


























»s a 
















1 1 I 1 1 I 




1 1 1 1 "«> 






m ft 


























c^ ce 
















1 ! : ! : 1 




" : : : 3.S 






io"S 












d stocks: 
bonds: 

pt< — 

npt* 

bonds 


: o 

i.O 

! a 

1 ^ 

o 


1 'i ! !^ 1 

^ ; ■ i I 




ivo ex pom 

stration.. 

milar beo 
xed with 






w<1 

li 












lents in bonds an 
eral Government 
Wholly tax-exem 
Partially tax-oxei 
,e and municipal 
otlier bonds. 


1 a 


*i '^ I 1 " i 




^ 'c ;-5 
















' w 






















;8 


=3 g , , a , 


c 


inistr 

.etc 

ad mi 

dents 

cand 

iisly 


a 


a 
c 


©c 
cgS 

•7" c5 












^^ 


-§ cr: :•"' i • 


C3 

c 
u 
tr 


;:. ffi Cf a — c 


c 


o •- 








O 
o 




a 1^ 

"CD'S 


Total bon 
gases, note 
anre, trross 
'ax-exempt 
Net insi 
sllaneous «. 


and adi 
nortgas( 
es duriii 
, of depc 
ble, pub 
y previ 




3 














^g- 


"3 

o 


c^'^:i^^t 


2 " 
- ta 


"3 


© ffi.2 










11 


> 


o 


tf Sin a 

o5^ .a 


uctio 
Fune 
Debt 
Netl 
Supp 
Char 
Pro pi 


cc 


c 


© © s 








£ 










T3 






■w-w X 








3 










QJ 






© © © 








^ 


O 










P 






:z:z 






t l«P9S 


^ 


c^ 


CO-^ IC CD 


t^ 00 


CS O ^ CM CO Tf 


>^ 


Ot^OCCiO -H 


CM 


CO 


TS-iO 




■o^ 












^ 




CM 


CM 


CM 


CS CS 



58 



STATISTICS OF INCOME 



fO e 



K ^ 



* "S "Ti 



5^ 13 









CO 


t^QOOJO 


■—(MCO 


^ 








,_, 


CM 


CO ^ 




•ON iBuas 


O) 


cscj(Meo 




CO 




•ON icuas 












l-l 


' -^ 


t^ 1 ID— 1 


-* \ -# 


kC 








CO 


to 


t^ 1 






OS 


to 


.c: i(Mco 


03 lOi 










to 








a> 


^ i05 <M 


•O ■ IC 


00 








CO 


to ' 






32 


S' 


'-' ; 


CO 'CO 


CO 






3 8 












o" 














o '^ 
































































CO 














to 










t- 


to 1 O lO 


O ' o 


•o 


i- 


^ 




^ 1 






02 


s 


rjO leoo 


S 'c3> 


T)l 






■3 
02 






CO ' 






E'S 




1-^ 1 i-T 


>0" . lO 


tc" 






3S 






,-r 1 






o^ 














o'^" 












o 














o^ 










'o 


(N* 














to 








b 


1^ 


o '^ to 


"^ ' Tt^ 


o 


U4 


I^ 


00 


WtH 




3 




•* 


CO '(MO 
lO i-#r-( 




s 






■3 
3 o 




00 


eo-H 

o 




H 




t^ 




r-l 1 —I 


^ 


■a 


3 

a 


3o 
8«? 






to- 


o 












3 


a 










_a 


O 


of 










g 


o 


lO 























o 
O 












§ 


J 


%-t 


M 


o woo— 1 


to 1 to 


t^ 


■3 
32 


c^ 


to 


b- 1 


o 


i 


02 




>0 C-l CN 


o |o 


t^ 






CO 


S 1 


1 


'o 


13 




oT im' 


oT 'oT 


oT 


i 


1 


32 








< 


fl 


(N 










<3 


"o 


>o 








o 

3 


.2 












§ 
a 

> 


"a 










bri 


o 


O 'oO (M 


0> 'o5 


o 


kl 


e^ 


00 


^^ o> 




Q 


0° 




w .Tf to 


00 100 


lO 




c^ 






OrlH 


> 


a 

K 

0) 


CO 


CO lO c^ 


CO 'CO 


CO 


a 

K 

a) 




C^ 


O)-* 




§3 


g 


r-l 1 —1 


■*■ 1 ■*' 


■^ 


^ 


o "^ 




cq- 


CO 


^ 
























03 


eg 
'3 

a 


(N 










C3 


ta 


■^ 








T3 


^ 


^ 


r^ ' c^ ir^ 


O ' o 


W3 


.§ 


'3 


b 


CM 


os 


T-l ^ 




02 


§ 


2 |2g 


O 1 o 
CO ICO 


s 


§ 


a 


«g 




00 


to 


■2 
3 


o 

6 


3g 

CO 


s 


■»>■■ 1 co- 


•^ 1 '^'' 


lo 


-3 

3 


i 

•2 


32 
o 








a 

s 


03 


'■<■ 











3 


0) 


■* 








w 


^ 


co ' t^ t^ 


—1 1 — 


V- 


Ut 


CM 


« 


O -H 




1 


02 

3S 


to" 


CO .;J<C0 


CO 'CO 
CO 1 CO 

CO ICO 


lO 


1 


ID 


•3 

02 

3g 
o "^ 
co" 




CO 


'»>'3> 


<D 


>o 


O 1 -^ to 


CM '' CM 


00 


Ui 


CM 


^ 


lO 1^ 






02 

3S 


00 


00 > T»< CO 


05 ' 05 








■3 

02 

3g 




t^ 


e^cM 








to 1 coco 


O |0 

to Ico' 


to" 










CO 


















o" 












■* 




















































--" 














CO 








03 


a> 


05 !,-! t-, 


o !o 


00 


u 


00 


t~ 


—1 CO 






02 




IN ICOOi 


1^ ' t- 


to 






-3 
3 <^ 






ooo 






<St 


t^ ICOCO 


CO ICO 


I^ 








to 


lOCM 






as 


CO 


-H 1^- 


to" ' to" 


to- 






3° 




-H 


-H 






S"^" 
















































- 






































CO 












_„ 












































if. 






















«o 






















CO 






















OJ 






















<— * 






















1^ 






















c 






















03 




O 1 ' i 


















'-' 






co 




















s '• '^ 


















CO 


1 1 <u 1 


''^ ' ' CM 

" 1 iCO 


3 
















_g 


i 1 X 1 


- 1 1^ 


o 










a bonds and stc 
overnment bon 
y tax-exempt *. 
.lly tax-exempt 








I ' 0? ^^ 


CO I ' -H 


CO 














c 


2 :- g^ 


■35 1 ^ CO 


>. 
















prior Ac 
: credits, 
gift taxe; 
inherita 

5S 28 and 


ier 1932, 

gift taxei 
ional tax 


X 
















g«^.S-S 


9SS-- 


03 






s 




•:;^=3-J 






c 


inder 1926 
ax before t 
ax credit f 
ax credit f 
Tax (27 


ional tax i 

dditional 1 

ax credit f 

Net add 


"3 
o 






3 
o 


Is 


Investment; 
Federal 

Par 






CUD. 


X 


%<^ 








a 


l« 






a> c? 


(Zt 


■C! 








:3 


k. 








^ 


^ 


< 








Iz; 


o 






•ON 


IBiiag 


o 


t^ CO 05 o 
CM CS <NCO 


—1 CM CO 


CO 




•ON 


[Bijag 1 


- 


CM 


CO-* 



STATISTICS OF INCOME 



59 



lO <£> 


t^oo 


05 0^ 


C^ CO >«< 


lO 


CO 1^00 OS 


^H 


C^ 


CO 


Scq 





r^ 00 OS 


— c CMCO 


■* 










r-l — 1 — 1 — . (N OJ 


c< 


(N 


(M 


« « M CO 


CO CO CO 


CO 


o c^ 


05 O 


03 — < «D O O C^ 


■* 


000 ' >oc^ ' 





10 


OS OS 


OS 


« 


;§^ 


OS 


is 


CO 




So 


C^iO w ^ rt 02 




10 Tj* l(M »0 1 


(M 


OS 


t^ r~ 


•0 


00 


CM 


•^ 


CD-^ 


t^ c^ 


O O 00 


IM 






c<> 


ot^ 


OS 





,co_^ 


OS 


1 OS 


CO 






























N" 


CC r^* 


TjT^ -^j* 








<M 


OS 00 


00 


<N 




lO 




CO 




























oo a> 


00 «D 


CO ^H 1 1 1 »o 


OS 


too ' 1 ! ' 





CO 


coco 


CO 


OS 


.'00 


CO 


;„ 


CO 


o t^ 




CO t^ 1 1 ■ 




C<1 ^ ■ 1 1 1 


■* 





t^ t^ 


CO 


^ 


1 CM CO 


>o 


1 IC 




io 


05'*> 


cocq . . 1 


CO 






CD 


00s 





CO 


1 iO— 1 


00 


lOO 


OS 




,-<"■*■ 


to" ! ■ . 


co- 








CO 10 


o" 












a>o^ 


•^ CO 


r^oo oi coco t^ 


in 


to (M '>00-# 





CO 


00 





cq 


QO ■* 


10 


:u,llo 1 


lO o 


O 00 


ooto ^OOCOCVI 






00 


S 


■o>o 


t^ 


t^ 


. —1 




1 CO 


00 


lO -^ 


oo 


O 00 C^ ^ CO 


CO 


t-OS 1 CO 


C<1 


tM 


CO to 








•CM 00 


CO 


, to 


•* 
































00 ^ 


05— • ^ rf 


CO 






■^ ■ 


OS 00 


OS- 


■* 








CM 




-HC^ 


CO 


-* 

1 








coco 


CO 












GO 


ICOO 


COCOCOOCO CO 


00 


c^ i 'os ! 





t^ 


00 








' 'J" CO 


00 


. 00 


^ 




c^ o 


coo l«^ --H t^ 






00 


00 




CO 


00 


1 000s 


CM 


■ CM 






00 CJ 


O CO ,-1 


t^ 


CO ! 1 . 




t^ 


00 


OS 


OS 


.t^rt 


00 


' 00 



































o 












00s 


OS 






IN 


1 M 


CO 






























iO o 


^o 


Tf OOOOC^ CO 


t^ 


ost^coooo 





CO 


■* ■* 


-'t* 


CM 


' OCM 


CO 


'co 


>a 




05— ' 


O O O O C^ 3S 






00 




OS ^ 




to 


1 — . 





, 




(M C<l 


00 00 


r- o CO 


-^ 


OM ^ coco 


■* 





00 t^ 


Ti 




100 CO 


OS 


' OS 


CO 


o'e^ 


OSCD 


coco 'a'" 


co" 


CO cs" c4^ 




OS 


■^^co 


^'' 


>o 


1 co',-^ 


■^ 


1 .^ 


CO 




rt CO 


o 


o 








10 "O 














r- cc 


<N OS 


c^o, 


1 1 1^ 


^ 


00 1 ^ 







CO 


CO CO 


CO 


CO 


' oco 


OS 


' OS 


CM 


o 


r^ ^ 


en o 


1 1 OS 




^Tl< . ■ 




00 


to 


OS OS 






' [0 '^ 





10 


10 


■* 


^ !D 


O-H 


, , U5 


00 


-9<CO • i 






00 


000 





^~- 








CM 




t>r 


00" 




oo" 










oo't^ 


00 








ICM 


CM 


cob^ 


e^ to 


t^ 00 O O -H CI 


co 


coo ' '00 i 





^ 


coco 


CO 


OS 


\ CO 





^o 


CO 


aio 


en t— 


O — « o -^c^ 


(>» 


OOCO 1 it^ ■ 


00 


r^ 


coco 




t- 


.n< CO 








«^ 


—IC-l 


-a>0 -H 


1^ 


T)< I iCO ■ 




OS 


00 to 


r- 





1 10— 1 




































(N 


Tj> CO 




00^ 








t~t^ 


t^ 






CM 


iCM 


c<> 


>o 


00 -^ 


C^ O) -^ 00 CO — < 


~ 


^(M ! ' 





to 


IM C^ 


N 


CO 


icO t^ 


■«< 


1 Tj« 


Q 




0<N 


CO CO C^ ^ --' 




CO 1 00 1 


00 


OS 


00 00 





00 


. CO -H 


to 


. CO 




'^ 


OJCC c^ 


OS 


C^ CO 




OS 


00 





>o 


. 15« ^ 


t^ 


1 1^ 


00 


S^ 


t^ 


r^ 


oo" 


— "S^ 1 1 




rt 


tCto" 


t~r 






rt 


Irt 


_- 






























<N 00 


lO lO 


Cft to CD t^Oi CO 


t^ 


^0 1 - 00 1^ 





OS 


r^ 00 


^ 


« 


1 CO OS 


CM 


' CM 


\~r 


00 cc 


O Oi 


OS — ■ (>> t- Tt> T»< 


3: 


^-,10 ' < 00 CO 


OJ 




*c *o 






1 1^ —1 




iCM 


•^ 


Pit^ 


Sc^ 


OSTl< m •* OS 


(M — . , .CO 




■'J' 


CO 10 








1 ■* 


■* 


itC 


00 
































t^ CO 


o^f 


CO 


(M rl . .CO 




t~ 


to 10 


CO 


M 




to 


to 


CO 














_^ 









_^ 
























<0 






^0 


























% 






-J- 


10 
























In 






3 ■=< 


CO 
























iM 






'^ ^^ 


OS 
























C3 
































OS 






co_>. 


s 






















; ;^,o 






en a 


■*- 






Ci 1 














i 
g 


; ii.a 

•S CO 
tn Ox 

■5 :^B 






_0 C3 


CO 
OS 






■< ; 

OS ' 


i!8 

~ CO 


CO 


a 1 

O 1 

■« 1 


! a 
'.9 

;o 

. a 


', 1 1 1^1 

iJ Hi i 




a 
> 






Sc5 

.S OS 


CO 

OS 

J3 
c 




is i 

I " 1 

= si 


■ 

i i 


1 

a 

E 

>> 


'3 1 

s| 

C 1) 
03X3 

So 

C3-3 


'i O 

j.g 

as 

O 


Total bonds and 
Mortgages, notes, cash 

Insurance, gross 

Tax-exempt ' 

Net insurance 
M iscellaneous «_ 


1 

■3 



uctions: 

Funeral and administr 
Debts, mortgages, etc. 
Net losses during admi 
Support of dependents 
Charitable, public and 
Property previously 


a 
.0 

Is 


a 


3 




a;i 

•3 ts 

2 


-2 

03 

s 

-i 

a« 
9 «„ 

g « a 


1 

<^ 

.2'B 

■_ X 

OS 

i| 

C3 


§5 a 

u. L. 9 

— 

*— *— t^ 

*J -^ CM 

Oi g 
^ (H 03 
Of-I 
X X 

03 C3 


ional tax under 1932, 

dditional tax 

ax credit for gift taxe; 
Net additional tax 


3 

.2 

03 

"a 


e 








m 




2 s 


3^ 


t^t^ 


■s-<^ 












■o 








s<u a 


X 




■o 














<o 






OS 


0) a =3 


C3 




•a 














q 






zz 


2 


H 




< 






>a o 


t^OO 


OSO — lO) CO-* 


^ 


"C r- .X Oi -^ 


<M 


CO 


-<** 10 


CO 


t^ 


00 OS 


_, 


e<i CO 


-^ 








H-l-irt 


'^ 




-^ — . cs 


Qt 


IN 


C<l 


NM 


c^ 


(N 04 CM CO 


CO CO CO 





-^ « 



186585— 4C 



60 



STATISTICS OF INCOME 



•ON I«U9S 



<-i M 



CO Tj* »o o t^ 00 oso^cqcc^ 



CD t* OOOi O ^ C^ 
rt r-l r-H ,-1 (N C^ CM 



O 



§2 



§§ 
§2 



OS 
32 



OS 

3g 



d2 
g« 



5g 
g«>- 



Oi CD CM f-l 



CC-H 



J ■<** -rii 00 <:D o 






to OOOO^ 
Cs lO O -^ CO o 



00 -H 
^ CO 
CMO 



J<1 w 

" ^ +3 ti O 

O ^ (B« g'O 

C ^^ cd ce,C 






£ g£h£CS3C g 

M .. °^ g S °3 >." ''^ 



3&hP;z;mO(i^w 



^ O 



•OM IBU9S 



CO ■^ »0 CO t* CX) OS O T-H C^ CO ■« 



O I>- 00 OS O <-* (M 



^^^^^ ^ ^^^^(MNN 



STATISTICS OF INCOME 



61 



CC CO CO CO 



o S rs 

a o o 



gfl'S ^- 



^ '^ 5 ^- 






g 03 03 C3 



j-O 03 



t^ 00 Ol o 



a§6So g 

"S «= -S tj o -T <" 



•*^ 4J ■" £ M ^ 5^ 



^tn =^° 



o"J 






:-< >■ 



.2 S c'-'<<T3.2 ° 
S o • d-f- X. ^ Zt 



• O ,_ CO » 

ac3 IB " 



CO © ?i 



cs <« g ^ 



l.gas°| .-2 



;-o.2.o 



.^Ct, o S^" «— OJ^ 






3fe « 



aJ_;o3-5oco~5s^ 

c .2 ?^ -o 3 2 S C3 n --e 



ss 



■Is 






■S 


3 






c 


o 





03 






03 




Tl 




J2 


O) 


Cfl 




c 


c 




£ 










n 


c 


V 




O 




01 


0.) 












3> 


^ 03 


c 



S.S £ £ P 



c ca CD 5 (f 
%^ ^ & 3 



3 a* 



c c 

d ac 



O "3 



3 d ■a ^J ^ 

3J O O 

i^ '^ ^ 

C3 ^ O) Q) 

-I 03 ^ 03 C 
2 *^ M -^ 

:/:: d «-s 

+J 0) w o 

g d-o 3 d 
a o o dT3 
n-c- ® o O 

D ® "O '^ 03 

^ 2-^ a - 

D 5 - c'3 
' JB 3 » fe 

- ^ « " s 



Q. « d [C t. 



mil 

Co, .5 — 
'^•'^ c,d.2. 



; !» 



r'^ 2 § 



cafe a 

ea I — m 







«j 


35 


3 


■^ 




.=£ 


C3 






* 


1r 




C3 


c 

CO 


(N 


_2 


e 
>> 


<; 


a 


d 


0^ 


i~t 


3 

d 


c 






C3 


u 




o 


— 



£ . S" » 

- dSS 3 

- c t^ d 

; d 2 



o IK ;*■ X 00 

i,d^i5S 

d sii «•-■ 
>>Sdd'0 

^ .2 5 c - 
_-;S d £td 
■c ca ■- •— 

3 P 5 ;_ t. tj 

£5aSBg 

-c Si's a>j p„ 

^_2 » ^ o^S " 
M Ja ^ °^" c3 Q ^ 
gg aS1"--S 
,2 w— — ^ d 
■- is =8=:; dS->2 

^, £ t. o d ti o 

dSg^S^-S 



nd 



»-S I 3 drtt? = tt 4^-5-2.2 «iJ® 



:/; O »0 3 



i><^'BzZ o; ""O^, 
«« — "^ai-rtcocs 

y^^co — wiSfeO) 



62 



STATISTICS OF INCOME 










1 


,—1 


OJ 


CO -^ IC CO 


t^oo 


OS — ' C^ CO ■* 


>o 


CO t^ 00 OS 




•OX leiJas 










-H , 


" 


-H — 1 — ■ -1 CM 






IM 


^ 


^ 


10— 1 o>o 
COC^ C-» 00 


t~ 


t-^ ^ coco t^ CO 


10 








O 


CO 


00 


OS CO 


CS CO OCO COU5 




00 — ' — ' CM -- 








00 


CO 


10 ^ c^ t^ 


CO t^ 


-* osco »o OS 





CO CM ^ t^ ^ 






32 
o 




co- 


-"H't-Todco 


o"co 


i^'osco'eocooo- 


00" 


t^^OO' >C5 












COCO 


OS— 1 






., 




S 
















i 




















M 


05 


os 


-^ r^^ »o 


r^oo 


10 ososcq i^co 


r^ 


00 ^ rf l^CO 






o; 


CI 




CO -H 0000 




CO -^ 00 CD »0 


CM 




•a 




■3 


00 


5» 


OS 00 -^ CO 


OS-H 




Ost^ '^CM CD 


a 




3g 

o 




CO 


CSof-HC^- 


osr-T 


i^oTcoco'cd^" 


•^ 


CO CD" ^CO 


aJ 






CO 




■"fO 


lOCO-H rt 


10 




<D 














CM 




m 




o 
















a> 




S 
















■^ 




















o 




Ut 


CO 


>o 


OOTt< OS 


(M 


N coiM^ r- h- 


>n 


iO ■* CO ^ OS 




„ 


a> 


CO 




CO o^os 


MCD 


^ ^ ^ ^ c^ c^ 


IC 


-* ^ CM 10 OS 






■3 


00 


s 


t^ ^ osos 


1^0 


oococooo>ot^ 


CM 


^0 OS OS 


E2 


32 

3g 




00 


iMOO t-^t^ 


«-c^- 


r-T-Tcfcdin rt 


10 


ocm" h-T 


_C3 




M 




CO t^ 


oeot-i -1 


00 


,-lrt 


^ 


"o 


S 
















+^ 






















"a 
o 




































c. 


IH 


CO 


t^ 


OO^H CO-^ 


CO-H 


00 C^ ■# CO 00 — I 


CO 


iracoTfioooo 


'O 


0^ 




CO 


CD 0000 -^ 


t^ no 







cm r^ ^ fH OS 


s 


tj 


00 


00 


■*coosS 


CO OS 


CO IC 00 1^ ^ ■* 




OS ^ >OOS 


a 


B 


§§ 


^- 


CO 


-Hrf-lOCO 


NCO 


co'-n'o'-Jos'l--.- 


00" 


■r)* CO ^0 


OJ 




10 


ri rq 


tP 


Tf iO(N rt rt 




rt CM 3< 


<D 




















B 


a> 


§ 
















03 


s 


















-S 






















Oi 


. 


•* 


-* 


e^ CO CO CO 


"*C^ 


CD CO CO 10 ^ 1^ 




00 ^ CO CO 




a 


Is 


00 


OS 


CD>OiOC 


t^co 


O-^ C<HM l>» 




ScMCMO^ 


CO 




CO 


00 


00>OOS>O 


00 CO 


"0 CO 10 CO C-J CO 


CM 


■* OS 00 CO 


2 


O) 


^- 


jv,- 


CD COC^ 


coco 


t-rc^lM-00'-0<-O 


,c 


00---H- t^ 


■o 


^ 




co 


'* 


C^ "O 


t^CO rt rt 


tn 




a 


a> 


s 
















03 


X! 


00 


































to 


e 
































OS 


a 


u, 





CO 


t-^ OSCO 


coco 


OS »— ' C-l 00 CO 00 


00 


CM TPd OOM* 




5! 




OSCD OCO 


CO 00 






t^CM WOS i^ 


o 


® 


BO 


CO 


00 00 co^ 


00-* 

oo'cf 


CO CO CO t^ 00 00 





-Tod r-It~r 


o 


o 


-300 




10 


^ 


C^ CO 


OS-* r-1 rt ^ 


c< 




'^, 




«5 
















3 




































d 






■* 


o> 


COC^l.^ OS 


00 >o 


c^ 10 ocoso^ 


OS 


OS CO CM 10 CO 


OJ) 






IM 




CO osc^ r~- 


>0 uo 


r-^ OS >o t^ 00 OS 


CO 


OS Tf< CM r^ 


> 




f2 


05 


-«" 


TftO CDC^ 


0-( 


M rt <MOSC^ 00 











CO 


rt 


in 


"Srt 00" 


CO CO 


ofc^'-HtCcO JO 


CJ 


t-Tco CM 




3"° 




CO 




rH CO 


lOeo-H 


CO 




« 





















•a 
n 

3 

























^ 


>0<N 10^ 


coco 


OSI^CDOOI^ t^ 


CM 


CM r^ 00 CM 


'O 








CO 


0—1 10 CO 


10 


■0 ira lO OS lo -< 




"<** GC CM 00 OS 


_2 






CO 


CO 


■* M 000 


10 CO 


OOCD 00>^ 


10 


■oo SS 




















E 




30 


(N 




"O—i o> 


CD ^ 


t^ 00 CO OS CO OS 




odV in 






g'O 




•<*< 




—1 T)< 


>0 CO rt 


w 




a 




■^^ 
















3 




^ 
















« 






































« 








CM 


a— ' "O >o 




00>OO3^ cooo 


OS 


-^ r^ CO CO 














Tf- GO 


C^J r- 01 -^l- 00 OS 


00 


OS OS CO 






"3 




00 


CO 00 CO I^ 


COC^J 


Ost^ Oi 00 CO CD 


in 


C^OCMOO 3i 






CO 


tC 


M'^q-co'i^ 


a^-rp 


CO ■^'"»0''<1*'"0 ^^ 


06 


'^crS OS 











00 


00 ^ 00 




OS CO r^ CD 00 




■^0 CM CD 






H 






-H (N-H 


10 f3 


OOCOrt -H 


00 

cm" 






















! ! : : i 




















aj ' 3 




















CO C 
3 ! 0) 












CO § « 'FB I 

■a c K 1 
a a K cr-- w 

" — ^ t^ C 

3 2S =* "^-^ 
» o3PPh »■§ 

S'S Is 

> 

3 


1.0 



lii N| 1 




4) S S 












. 
1 g 




s 


Is '.S '-a 








a 
5 


<a 


II 

"3 "3 




s 
i 


Eh 


*-< en -■_; 
g-S- 0,5 
•-3 a j2 4-> Q. 03 

3 » » 3X3 

36^Q^raO 








1 



1 


T.ta 





Hi pi 

K •- 

S5 2 





















■o 










t-t 


















^ 













Q 




•ON 


I8U8S 


^ 


C^ 


CO -^ 10 CO 


t^oo 


oso -<oi co-a* 


UO 


«0 t^OO 05 



■3 S 



STATISTICS OF INCOME 



63 



1-1 c^ 


cc 


Tf lO 


CO 


^-00 C3SO 


— ■ CM CO 


3! 


IMC^ 




CM CM 


CM 


CM CM CM CO 


CO CO CO 


CO 


o o 


r^ 


00 lO 


00 


1* — 1 CO t^ 


i>J<CM CM 


(-, 




00 


So 


t^ 


ITS CM CM O 


0»0 lO 




•0-* 


lO 


Ol-H 


1* 


CM t^ira 


00 t^ 


CM 


C^-^l^ 


00 


C<f 00 


05^ 


CM -H 


'9<- tT 


IC 




cc 


CM 00 


'" 








(N o 


CD 


CM lO 


CM 


00 00—IO5 


NiO t^ 


CO 


<c<o 


OJ 


O>00 




O COiO 


S"S 


s 


IM^ 


o> 


CD -^ 


>0 


o o>o 


00 
















TJH CC 


CM 


■* CM 




CM CM 






CO 


00 


§2 


t~ 




CM CM 


CM 


o o 


Tf 


OO 


o 


00 "^ CD CO 


00Tl<-»< 


o 


51-* 




00 — 


Tf< 


Tfi moo 


S?"^S 


CO 


oto 


■^ 


■«"05 


00 


00 CO -H 


N CM 


TJ< 


■^j^Tj^ 


o" 


oi" cc 


M*- 




CM cm' 


CM- 


m 


t^ 


i*CO 


'"' 








050 


CM 


1*0 


1* 


*c — ooco 

CM ?S05 


CM — — 


CO 


Soc5 


C<) 


o ^ 


00 


OSCM t^ 




cc »o 


00 


wo 


« 




1* '^l 


iO 


afc-J 


en 


w cm" 


00 




cm" cm* 


-" 


t~ 


CM 


s* 


1* 








c^ o 


00 


CO "^ 


to 


CM OSCM 


00 to CO 1 


o 


OtO 




CC 05 






-- — o 


o 


o« 


00 


I^ — 


CO 








iC »c 


oo" 


J^^- 


00 


c^ 


TK- tk' 


'*- 


in 


00 


CM 


CO 








-«.o 


m 


-s<o 


^ 


«, ;^- 


CO— 1 >o 


CO 




^ 








00 00 


00 


O 00 




1* <o 


CD 




00 00 


OO 


lo to- 


o 


tC 


O 




CM- CM- 


CM- 


ol 


T)< 


to 


r- 








00 o 


05 


o r- 


o 


•H 1 —1 


CM—— 


CM 


OCD 


& 


0>0 


CO 




>0 lO 


« 


005 


CO 


CO —1 


''l^ 


1^ t^ 


t^ 


W CD 


CO 


lO 


00' 


' C^ 








o 


o 


CM 








lO O 


^ 


00 CO 


OO 




fj CM 


00 


t-O 


o 


1^ r-t 


-r 






Tf"C<I 


00 


en 


t~- 




CM 


coos' 


00 


00 


cm" 


crcrcrcr 


C^ 




o 














iC o 


■»** 


lO -^ 


lO 


ooo o 


1* CM CM 


^ 


t~^ 






■^ 


CDOC^ -i< 


O CO CM 


2 


— CM 


05 


00 r~ 


CO 


■^'^X'a 


— CM Ol 


1^ 


Tj«^ 


1 00- 


CO Cif 


o-^ 


CO oscd" 


00 t~^ 


V 


1 o 


1^ o 




t^ ic — 


05 02 




>c 


1 •=. 
1 


CM CM 

cm"-- 


t~ 


1 


CM CM 





■ae . 

CO >> >■ 



9S 



>o 



2 « 



£•0 



R e 



i 05 2 

as 5 

S"o o 

Mo O 

£^ .fe 

'S rt G.C3 
S QJ § QJ 






j^ ►s >- l- <1> 



t^ 5 M tH 03 



t~oo o> o 

CM Cfl C^ CO 



.■3 .2 



■3-2 £« 



64 



STATISTICS OF INCOME 









^ 


(M 


CO ■* U5 to 


r- 00 


05 Ow C^ CO -^ 


.0 


to I^ 00 o>o 




■ON IBI-I9S 












*"* 


^ ^ — * rH CS 






a> 


>o 





■^ Ci t^C*l 


CO r^ 


ojco c<nN in 


to 


to < (M -^ 








C<I 


TO 


>o 00 10 to 


to 'J' 


00 to -^ CO 


c^ 


00 r^ ito 


t3 




Co 




00 


rt r-H too 


en— 1 


— 1 -tf CO -H -H to 


^ 


to (^ 1 -* 


o 




^S 






^"c^'-^'c^r 


o'to" 


I--.*CO- <N 


to* 




3 




o"- 












CO 




p 




CD ^ 




































d 




-h" 
















o 

O 






















a> 

OS 





>o 


coo 00 tc 


i~-or 


to ^ >0 CO (M 05 


CO 


1000 Irf to 


1 




c^ 




^ 10 t^ 


T|<C^ 


t~OC0 'Jt OSIO 


•* 


00—1 it^O 


1 






to 


to "3 CO to 


^0 


I— 1 •»}< CO ■'J* 00 CO 


n< 


(NtO ■ to 


So 




nS 




(mT 


C*rt" 


•o'-h" 


to'co'c^" —Tin" 


to* 

CM 


rt*CM* '< 


cri 




o _r 
















a> 




o"- 
















^^ 




•"^ 
















-o 




^ 
















a 




































cs 






IM 


CO 


c^ cnco^ 


00 t^ 


Tf mo OJ -H to 


OJ 


—1 to iooto 


to 


cc 


to 


r^ X Oi Oi 


'Ji to 


— ' — • o>o ^00 


00 


—1 CO 1 CO to 


05 




■<»' 


c^ to to CO 


O'* 


m^ >oco-H o» 


•<*l 


tOtv i(NO» 




_c 


32 




'i"- 


-I'^mcf 


O^Oi 


oo"co"-i" r-T^" 


oi" 


CM*rt- 1 


















CO 








o " 
















o 


a 
o 


o'- 
















•^ 


O 
J 




















^ 


■* 


cnos >oo 


-*(M 


to 05 <M 00 10 


-<t* 


r- 1^ icoiM 


Qi 




fe 


•«*< 


IM 


00 05 CO 




^^ ^ — i 00 cs »o 


CO 


COrf lO^ 


s: 


® 


^S^ 




C^ 


1-1 1^ to 


So 


r- (N (N Tt< t^ o> 


00 


oo-a< iiMio 


>, 


rn 


ss 




cc" 


c^'^-^'co* 


— rv 


iraio— T co- 


00* 


<M*CO* '• 


S 


3 = 










co 






J2 




o-^ 
















X3 

a 


9 
.9 


§ 
































i» 









CO 


tH b-T)! to 




<NO-->CTiCOCO 


■* 


•*^ loo-* 




a 




•^ 


05 


to t^ 00 to 


00 o> 


i^ CO CO -^ 000 


00 


0505 ICO OS 


S 

03 


a) 


•a 
91 











t^ 00 C<1 uo to 





0000 ■ 00 

r-TcM* ! — r 




o 
















CO 


u 


o 
















tc 


00 
















s 


'i 


































T3 


a 




cc 


C^ 


00 to-* 00 




1^ 00 CO 00 toco 


to 


too i(MlO 


<s 


1^ 


(N 


OJ r^ to 05 


CO r^ 


Ot^ UO QO to CO 





00 l^ 1 to CO 


a 


!5 








CO r^ 00 I-- 


00 lO 


•<J* IM CO to to "* 


a> 




03 




1§ 




i>." 


^rH lo"-^' 


co*-^" 


oo*t--of — Tto" 


0' 


CO*tO* ' to 


■2 








—1 CO 


"^ 


t- 




CT> 


a> 


o 


















^ 


o 




















t^ 
















o 


-4^ 




































03 


u 




00 


CO ^ t^ CO 


^01 


CO 05 Oi^ to 


10 


to to— 1 t^t^ 


u 






00 


CO 


CO 1^ ^ c^ 


"* to 


^ Tt^ (M ^ T-^ C^ 


to 


to to ^- (N 


■< 


0} 


■o 




00 


•<*< 00 *0 05 




00^ 10 lOOC^l 


CO 


■^ to c^ t^ 


<D 








■<*<" 


T-Tcf «co' 


moo 


^'od'^* '-T'^" 


0* 


CO*-** tC 


a 


2 












i>- 




a 


Iz 


















33 




















> 




CD 




































Lh 


^ 


CO 


to »0 CO CO 


h- 10 


<N r-l t^ C^l « 00 


Oi 


CM to 00>O 


M 




© 


■^ 


<o 


t^ Oi 


10 r^ 


CO ^ r^ to ^ Oi 




r^ CO to 


o 




T? 







■^ '-H C^ 05 


Olio 


to to too t^ 


■* 


10 CO t^ 


•T3 

a 

3 




eg 

3§ 




c^" 


1— T'^'tCoo" 


--T^" 


co" ^*" CO* ^'" (N* CO* 


IM* 


toto'c^ — r 










(M -* 


to >-l 


01 









o 
















•a 




o 
















a> 




■o 




































s 






















^ 


^ 


00 


00 CO "^ 


to 


.-( (M— 1 -^O t^ 


r^ 


OS --< — ' I^ 


a 













t^ 05 


t^ tote oto to 


■^ 


^ to t^co 


s 




T! 


(N 




to too 


CO 00 


<M en CM 'I" 00 to 




— 1 Oi to o> 




09 

3g 





^ 


rtrn'iOO" 


^"-T 


co*c<rto*c-fco-to" 


00" 


iO*tO* -** 










rJ 


c^ >o 


r>- rH 







.« 











































■* 


































i 1 i 1 m 




















1 , , 1 -M 




















» 1 1 1 3 












^ OT 1 i J ; 


1 a 


1 1 ; ;?J ; 




a : : ;g" 












^ g S £§. i 
tn 3 X ¥.2" 
•0 S a> K 3 ■ 

mm 

-fj .— 1 r1 l_( OJ 

® sp:^ 0-5 

> 
a 


' °. 






X !•- 1 t- 












its 



















:8 

'.9 


to ® ' ' ■-< 1 

gg ! § i 

m ' . ce 1 


05 


1 -9 ^'.S 

1- ^ 3 cn-a 

"Ss a-e a 

■— ■*^ T-) C 03 

.g'.^^S* 








a 

3 


^ "^ 


a " 
'cs'3 


■a 2* : " g ; 
Joifat, 

^ « -r '^ iz: <i> 


C8 

a> 

Eg 


s 




mil 

•r3 a J3 *j Q. 03 
3 » « 3J3 

3bHQ^raO 








1 




■6S 

HI 


U 























■a 










t, 










OJ 








z 













Q 




•ON 


IB1J3S 


-^ 


(N 


CO -"jorato 


t^oo 


ojo—knco •* 


to 


to t^<«c»o 



STATISTICS OF INCOME 



65 



-H (M M 



IN IM Cq OJ 



■ 00 OS O »-« C^OO 



0000 00 



00 o »o 



CO CO CO 



1^ 00 -^ 



C0"O00 05 



:0 CO CO 

00 —' 00 

00 Ol c^ 

co'ctT c^* 

CO(M CO 



CO lO ^ 



O I '-' 00 



©■Mrt 00 



r-t CC CT> 



CN O to t^ 
t^ C^ Oi o 



O CJJ ^ 



CO ^ 






S 03 "O 



=1 9 



o 



agg 
.2 >< 






^ CO 



a o u 



E= 5^ 



• ^ ^ 2 -te .ti E 

; m t, ® £ £ 03 

-5 '5 >< X X 

I r/i C ^ C3 C3 



■a ^ ".2 



03.1 



CS C^ C^l C^ (M 



i2 OT3" 
03S S>? 



CC CO CO CO 



66 



STATISTICS OF INCOME 



5C 53 ,^ 



'-0 « 



s ■^ 







1 


,^ 


IN 


CO -9< O tC 


t-00 


05 O ^ fN CO ■* 


■o 


CO t^OOCT O 




■ON l^pas 1 


















m 


S 


r^ ' Oi :o 


^ CO 


t^-* lO ■* — I CO 


■* 


l^rt IN O 








O 


CO ■ lO c^ 


t^.o 


01 C-1 CO "O 00 CO 




O: CD I0OO5 






■3 _ 






lO 1 »0 CO 


■^ t^ 


c-j r~ CO IN rH 


Tjl 


to CO ' ■* 






as 






. 














32 






> 




>o o" 




1-^ ': cn 


■g 










■«3* 


-9> IN 


CD 


■^ 




g" 
















fl 




o 
















a 




■« 




































O 




b4 

3§ 


CD 1 


c= 


oa> o t^ 


CO c<» 


00 coooooo t^ 


to 


T)^ en ' ^ ■'i^ 






^ 


■^ ^ cc -^ 


CO CO 


en — t^ CO rt — 1 




cjs ■* i r^ 


D 






00 


Oi t^ Oi 


CO o 


CO »o ^ ^ CO to 


00 


to to ■ <N 


I 






(N 


^' 


CO tC 


CO •"h" 


oo" 


^ ^ 1 














IN 


IN 




!--. 




o" 
















CO 




















CO 


















o: 




c^ 














T3 


















•3 

OS 

3g 


C5 


IN 


IN — • l^tO 


lO -o 


w 00 u:: 1 >OTf 


o 


COiO 1 ilN 


d 


■« 






»0 ■* 00 lO 


CO CO 


O IN 1 tP 




t^ (N 1 . — 


ca 




O 


coo: CO 


ooo 


en t^ ' cs 


s 


M> OI 1 1 CO 


5§ 


3 






'^ 




of-«>" 


CD- i 


oo' 




2 




o'^ 
















•fcj 


fl 


kO 
















o 


o 
O 

J 


c^ 


1 












o 


•3 


oc 


^ 


t^oo tc •*> 


^ Oi 


■* r^ — ' o --I oi 


■'l' 


to ^ 1 05 r^ 


<^ 






1^ 


ootooco 


end 


en en CD 00 00 00 


IN 


IN t^ i05 to 






■* 


>0-H tOt^ 


oo> 


O t^ O IN t^ t^ 


en 


Ort 1^ IN 


>> 


a> 


S 




CO 


CS-H 


lo en 


lo'iOrt ^- 


cd" 


of CO- ' 


JS 


m 








IN 


CO 


•* 






« 


8^' 
















■s 


















T3 




CS 
















a 

03 


a 

i 


















32 


o 


1^ 


CJ t^Tt<00 


^ ^ 


IN INCOCOOCD 


t- 


IN 05-H ^ to 




CO 


O— 1 t^iO 




CO « CO IN rH IN 


00 


rlO -S- 


C3 




o> 


OIN t^>0 

-J'rt'cO 


co'co" 


OO "5 


to 

CD- 
Ol 


0-* ■* 




x 


o^ 
















^ 


a> 
















05 

a 




IN 
















■3 

as 


CB 


OI 


a Ow — 1 


O"*" 


-^ lO t^COTt^ ^ 


^ t^CO lcD-«" 


o. 


CC 




IN t~— . — . 


CO CO 


CC 'Tf <— I O ^ Oi 


IN r^ ■* ICO ^ 


03 


m 




00 


-«■ CT C^ CO 


OCO 


lO t^ CD MCC QC 


CO t-H to 'CO to 


2 


£ 

.2 


3g 




•* 


■^co'^-'co' 


oo-|^ 


g2- 


s "•"' ; -"" 


o 


X3 


o_ 














ID 

03 


'^ 






1 








-3 

OS 


^^ 


r^ 


00 CO OlO 


-^ Tjl 


l-^CD O O O O 


o 


00 -- to ,o 


-< 




m 


IN en lO to 


IN h^ 


o> IN en CD CO en 


00 


00 CTi Ol 1 ■* 


1 




00 


CD -^ -«1' C: 


>ooo 


CO ■* -* ^ CO r^ 


r^ 


CO^ ICO 


3 




3§ 




-^ 


eo" 


lO CO- 


2-<- 


if 


rt- '•<(>- 


a 


(D 


o _r 
















> 


^ 


o'-' 
















IB 




-h" 






1 


























t-i 




Q) 


IN 


00 


00 >raNco 


IN-* 


CO CON O-^ 05 


00 


coo 1 CO CO 


<0 




T! 


01 


00 


« — ■ — 100 


■*-■ 


ION t^>0 INO 


a> 


IN o icor- 


a 
d 




OS 
og 

o ^ 




o 


-HCOiO-* 
CO'lN-^IN 


•*00 

in" CO 


(N 1^ iO ^ ^ ■«}' 

enco---!- -Tof 


00 


CDO 1— IN 
-Trt '■ CO- 












N 


CO 




■o 


















_2 




^. 
















3 
S 




'^ 
















» 


lO 


o 


00 00 too 


w ^ 


IN ^ IN COCOrf 


Ttl 


CO to ilOTfi 






IN 


en 


— INOi=J 


>CiO 


O "O QC CO -!t" — 1 


o 


O-H 1^ CO 


3 






t^ 


IN wcocn 


CO -* 


00 CO -* IN 0» CO 




COOO l-H 00 






OS 


















3§ 
g- 




o 


.-<"-Jcd'co" 


CO co" 


CD' CO- ■*- 


—1 COt^ 1 •* 


tf 










-HCO 


■* 


CO 1 —1 
























— ' 












































1 m ' ' ' ^ 
















; «;:;§• 
















a <» 










^ " ' i J ' 


; a 


' ', 1 '.^ 1 


i 1 Is \t 
i > ii il 










^^3 i^'i2 i 

2o„C^ ; 

-c » ^o ; 


i.O 

s 

c 












1 u 


"S "^ ' ' "* ' 


• 1 i'a j'S 










' o 


•3J3 ; ; oi 1 
a iS c> 


; is j;! pi2 a 
.2-£^ec3 

■§ .9 -«-3 










liliil 

a g£ ca «;0 


; a 








a ' 


■3^ 


^ a ^B" 3 


•S i §i a g ^ 








5 <^ 

O c3 O 




^ - " o ■►-' o 








55 

t-i CO 




'3 








1 n 

i i"^ 


a 

l-H 


o 














© 








2; o 








P 




•OK 


IBIJ9S 


-^ 


M 


CO-* >o to 


r-oo 


en o r-. (N CO ■«< 


to 


CD r^OO 050 



STATISTICS OF INCOME 



67 



t^ 00 05 o .-I c^ rt 

C^ C^ CS CO « CO CO 



O t^ CO 



o »o 
CO »o 



(N (M C^ 



O'-'OO -H 



oc^ I 



OiOi lO 



GOCO Ol 



CO C^ CO 



.-^ lO i-H 









ids 3 



as 



£& .^ Sg 



3 ^ <- ^ ^ o 



5 a-; 



Q.3'0 
Ph CO 



2 0■5•c"~f^J ' 

t- t- " ^ 'J 

S '^ X X 

O 03 03 CS 



^00 i5 — 

Ut ^ Ul u^ ^^ 

■o 



c^ CO -^ 10 



^ CO 



■sz; ^ 



a ^-2 ° °;; 3* o-^ ;^ 



I^OOOiO ^ CS CO ^ 
(M C^ C^ CO CO CO CO CO 



68 



STATISTICS OF INCOME 









,_l 


IM 


TO-*iCCO 


^-oo 


050 •-I 


CM TO-* 


kO 


COt^OOOSO rfCM 


TO 






•of<: iBuag 












^ 


— —c rt rt c-l CM CM 










TO 


CO 


t- !o<N 


05 O 


0>rf COOCDIN 


-* 


OOO iirscM lo 


•O 










cc 


i^ 1 .-. -a. 


c^^o 


CM lO lO •* .1 (3: 




>C ^ i CM O .CM 


OS 










TO 


CO ICO-* 


t^ (M 


OO 00 


CM 


OSO |r-l ,w 






T} 




38 






1 n" 


to"j-h 


■*' rt" rjT 


CM 


" 1 1 


cm" 




§ 




§>-■ 




















a 




























CD 
















1 


a 










































o 
O 




I3S 


,_| 




—1 loooi 


00 CO 


TOW 


1 1 U5 


OS 


CD O i i 1 'o 


CD 










TO lOI^ 


^^ Tt^ 


CO I^ 






CM ■* 1 I I .-* 


O 




J 








TO ' "O 


OTf 


«(N 




CO 


•* i-t 1 1 ' ' 


O 








32 






y-i 1 


rtTT 


CD" 




CO" 








i 




o^" 






















o> 






























<D 
















i i ; i 






•O 












































a 




3g 


J_ 


00 


(M .-H a. (N 


** TOt 


t^ OC' OS CO CO r^ 


lO 


lO CM 1 to O Tt* O 


CD 




c5 


TJ 




CO 


TO ^ iO o 


ooo 


00 CO Tt< 00 CO IN 




-Hrt IWCM 00 


-* 




1 

OS 

o 


3 

a 
"3 

o 




00 


CO" ■£ 


CO 
00 r-<' 


OCC CM r-< TO 

oT -T ,-r i-T 

TO 


TO 

to' 
-* 


I-OJ 1 TO CM 


CM 

-*" 






D 
1 


lO 




















fe 


cq 


CO 


r^ !oo 


>ooo 


TO TO TO O TO TO 


oo 


CO CM ' 1 C7S 1 O 


t^ 1 






a o 




TO 




IM O 


TO CO "O -* rt W 




00-H 1 1 100 


OO 1 


>. 


Of 






00 ' 


00 IN 


CCJ rt 


t~ 


OCO ' 1 


t~ 




^ 




32 






, ^ 


o' 


^ 


^ 


^11 1 


y-^ 




T3 


ca 








' o 




•—I 


•—I 










o 


o "^ 




















i 


O 


lO 




















t-l 

3§ 


(M 


00 


^OJUOO 


T»< O 


•* OOOO CM ITO 


I^ 


OSt^TOOOO lO O 


TO 




i 






05 — ITOIO 




O COC3S CO CM OS 




TO-* COCO OOO 


o 




^ 




(M 
IN 


to" oc-f 


00 00 
CD' CO 


l^O TO 

toto" ■* 


■* 


OCO -* CO CO -* 

CO cm' cm" 


O 
Os" 




^ 


<s 








rt TO 


•o 


CO 








o> 


o 






















'"' 


ta 


T)? 




















•3 


•^ 










































CI 
03 


0) 

a 


X) 

C2 
32 


M 


OS 


»-H ^^ r^ TO 


C0O5 


CM CM 


1 1 I^ 


OS 


OCO i ' 1 !o 


CD 






00 


CO o 


t^ rt 


OS o 


. iCJs 


t- 


■* -* 1 1 1 1 00 


CO 






s 






Th 


TTCO 


o— • 

oo" 




oc 
ce 


TJ'TO ' 1 1 1 


00 






•2 
0) 


g-* 
















• 11 1 






o 


6 


o 






















1 


C3 


^ 










































<i 




M 


lO 


O^ TOl^ 


IMIO 


COOOOOS.-^ CM 


CO 


TOO i 100 'o 


^H 










TO 


■*0>050 


TO^- 


0--1 « -^C^ 


CM 


OOTO ' ' t^ '00 






§ 


0) 






>0 TO-< 


w IN 


-#0 rH 


t^ 


-* 1 1 CO ' 


OS 




a 








.-T (N 


Tt<'TO 


t-Trt" 


oo" 










1 


i^" 
























TO 








































(1> 
1 




03 


(N 


r^ 


>o l^iO 


OOTlH 


CM OS Tj* 00 CO i-H 


C5S 


-*CM 'o 'o 


CD 






3§ 




r^ 


(N M lO 


OIN 


TOCDCM .-1 w 


OS 


OTO 100 100 


C7S 








■^ 


TO-* 


OOi-H 


OS TO CM 


OS 


CMCO ' 


a> 










C" 


t-^ 


t^"" 


oo' 


-h'C~ 1 1 


-h" 






§" 






' 








' 1 1 






ta 




o 




















a 




TO 










































3 




3g 


00 


t^ 


■-I TOIMOO 


lO »o 


OS CO CD t^ OS CD 


t^ 


-* o ' 'oo t-o 


OS 










Q CO 00 CO 


oro 


OS w CM I^ ■* -^ 


-i- 


— 1 lO . 1 00 TOCM 


O 




© 






CO 


Sn^ t- 


t^c^ 


OS T)<>o -^os 


•* 


CMrt . ICO TO 


-* 




rt 






'^ 


r-T lO" 


i^to" 


ooi 


to" 


CM'rt i jco" 


t-T 
































TO 








































! 1 ! 1 1 <I> i 1 
T3 , . 
























' ' ' ' ' , -. 1 1 
























1 1 1 1 . <U 1 i 
























i i i i i^ : i 
























to ' ' 
























. . . . ' t^ 1 t 
























; ; : 1 w g ; ; 
























' ! I 1 oi •-** ( 1 
























i i i i^"^ i ; 
























a =^ o 














« . - 1 1 1 ! 

q ggco aj= 

Jo 3 = 

> 

a 


'. a 
'.2 

! o 


^ 1 
0-3 


icM ; 




5 : d •^•3 

6 ;2 ;5?5 ; ; 

■^ ;l3 \^"S- i ! 

03 S a 51- 

1 ;-9 i-SS io 

^ a;'E SS > : ^ 

=« a o °^ >sS a' 
S-S .E^-S5-E-2,54 
S !r!i5^ g-r «: oS 
■J3 a .o *j Q. ca ir 3 £ 
o 3 =^ o 3J= C-o a 










s 

3 

o 

a; 

s 


••2 

to K 

s 


, (- 
. o 
i '•' 

1 a 

o 


O U.'x 
f-n 03 C 

^£ 
^ 3 
c 5 


a 1 

. OS 1 

Z> 3 '• 

a-9i 

^ 1 
i 


0? 

'ce 
o 

O 


to 

a 
.2 

o 
3 

"ca 

o 








3 




















^ 


o 










C 






•ON 


IBijag 


- 


N 


eOTf «nco 


t^oo 


oso^ 


CMOTTJ" 


lO 


2i52Sgc5 gS 


S 





STATISTICS OF INCOME 



69 



Tj< la CO 


t^oooi 


— 1 (NM 


■^ 


N (Noq 


(M C^ OlM M MM 


M 


05 0305 


10 


'00 t^ 


(35 


a> 


CO 


t-» t- lO 




ICO -H 


(M 


CM 


•^ 


O t^ 03 





icD-i)< 


01 


05 


M 


oT txfoo" 


IN 


t-T 


>o 


10 


CO- 















CO MM 


03 


'0 


M 


M 


M 


r^ t^ M 


•<S^ 


■ C<JM 


W 




00 


o 0=0 


CO 


lOrt 


00 


00 

















10 "OtD 












00 


e<« 


'00-* 


10 


10 





>0 UOI^ 




,10 —1 


CO 


CO 


00 


M ceo 





<N QO 


CO 


CO 


-* 


Oi 00 Oi 


-a*" 


>m" 


^ 


^ 


cq- 














00 





1 T)<CO 


00 


00 


■* 




00 


'00 05 


CM 


CO 


CM 


SoS 


05 


H^rH 


00 


00 

















oicn 






CM 


IN 


M 














•^ Tf< -^J* 


(M 


'OIM 


M 


M 


10 


03 rt —1 


CO 




CO 


CO 




oc t^ ■<** 




OOM 


02 


05 


M 


•*- M'S*" 


irf" 


• M--r 


TJ^ 


-ai" 


CO- 


10 WW 












M MM 


M 


' CO 








CM 


cn^ 




( r^ Tf 









000 


t^ 








CM 














00 t^oo 






CM 


cJ 


CM 


M MM 


05 


1 M CO 


lo 





CO 


M MO 




' "* M 


c^ 


CM 


■0 


00 to t^ 


CD 


i 10 ,-1 






















t^ r~i^ 






CM 


cm" 


CM 


N MC^ 


M 


Icoi^ 


'<*< 


1 Ttl 





00 00 




1 CO ^ 


CO 


' CO 


00 


000 


W 


' -^ ^ 


t^ 


't~ 


00 














l^ CDl^ 












t^ oot^ 


to 


'cO05 


CM 


'cm 


^ 


>0 OM 


01 


■ t^ rt 


CM 


iCM 


-^ 


M 100 





' CO ""^ 


•^ 


1 TJH 


00 


to" lo-co" 


(N 


1 ^ 


zo 


IcD 


CO 


(M <N C<1 












!o ' ' 




















So ' ' 










C^ J^ 1 1 










-O , , 










20 










3—1 










•5«3- 










a—- 1 1 










M >. ■ >? 










N-S '.-E 










^0, ',0, 










§« ; !s 




















to a ' 








s 


c<i :<; 




1 0' 1 1 


;^ 


gS iss 




'•'vj ' '■ 


. CM 

.M 


D 


.oo3 ;c» 




1 a> 1 ; 


' CO 








X 


' en 


a 


aa) iffl 




1 =3 1 ; 


I.S 





9^3 ;j3 








M 






"G- 


>i 


tD ,0 




for gift taxe; 
for inheritai 
I less 28 and 
under 1935 
tax 


1- X 




ecific 

rates 

rates 





i5 

j'ca 


2 


a^ .^ 


+-j ^ 


bfO 


X 


res 
■hie 

'hie 


<^5 




J 


te befo 
te to w 
tion).. 
te to w 


er 1926 
before 
credit 
credit 
Tax (2- 
lal tax 
itional 


p 


"3 



C3 CO Qi '^ 


"" K 


03 03 -StS 






oi CD g a 


c S 


03 




seee 


^< 







-<*< lO CD t^ 00 Oi O --H C 



(N CM CS CO CO CO CO CO 



70 



STATISTICS OF INCOME 



•ON iBueg 



CO 'tf' »o to r^oo 05 o f-i cs CO -^ 



•00050— C<l CO 



l-|-^rt-^rH rt rt ^ .H 1-1 IM (N IN 



^ <0 1^ -^ 



lO Tt* -^ CO CC o 



CD »0 OO O^H 
05 »0 O Tji to CO 






>-l CO 
NCO 



UTS 






03 CP -J^j^ 



3 O vi OS'S w 

+2— ._« t- ca <" 



o 



T3JS 

O o O U' t/j M 

c3 en .- !«: -t; « 

-fc^ a» 0^ Gj a> fl 



c3 



"5 C32 



13.3' 






t?H 



.9 -"'■O o m a 

S S 2^3^ 2.2 

^ t"^ Tl " - ^ ^^ 

.2 21?" ^b a'S 
" 3i? a; gj3 £ g^ 
3fc,C2;coOPHa3 



^; o 



•ON IBU9S 



eo-*>ratD t^oo 05 o >-H c* CO Tj" 



«o r^oo 030 ^ w 

-^ w 1-1 rt (M IM IM 



STATISTICS OF INCOME 



71 



•00 050 rl MCC 



CC CC CO CO 



to o 2 

©DO 






T^"?; o 5 jS 

U. >^ t- fc- TO 

OJ2 o Of-i 

"5 X « X 

5 c3 ca 03 



■ •a c3 



•o - 

IC lO iC 



W « CO IC o 






o « a; OJ o— c3 

ti ^ A 03 ti .t^ _ 

cy o o q;" O) ® o 
CO tB m 03 m "^ '^ 



43 a 

fc£ O 

3w 

£> 

^ o 

S ft 

^2 

O 03 
o » 

<sa 
»■" 

3 '^ 

© 3 
Pi tn 
oS 






.2 s >> 

i « c= tc h 



i O oi 

£ b n " o 
|og-g 



O c3 C ; 









^ J<! X2 -s '-"^ 
c c; > 5 ^ 

£•« >.52 
C c .^ 
^ ^' 

^ C o 

|ip| 
■^ -BIG'S 

3 c c >,^ 



eT3->^ B 






•c 2« . ,feo2;^=?•- 
5 o oj ^ ^ ^ c3 



©S 






«N(MM cococo m 



c =; ^ o o"" ©"Se^ sS 

O-C C3 2 g bi-S >- -c-S 

o •!:■ is "^ g >- bf,c<3 K is 

a©©c>©r^^t^©^^ 
w ^ j: cc CO e « ^--o I, >. 

a o 6^«e- ct=^ o 



72 



STATISTICS OF INCOME 



"5 CD 



•OM IBU8S 



-H M 



CCtJXOCO 



• GO 05 O ^ <M C^ •■ 



«Ot--00O> O 



^ t-H ^ (M (N 



COOIMrH ^,-1 



05 0001^ 
"<*^ CO « ^ »-< 



t~0 tO'M'O'O 
CO 00 »o »o -rj^ 



1^ -^ OS »o -^ cs 

00 -rj^ »0 t^ 00 "^ 



o-a 



-a 



~ <u £ S n 

5 9x3 
a P X ??-SJ 



6-2 



C ° M 






?P5 5 



C3 c3 
S "__ 

a O O 
g P ° 

^ o g c ^ C 
o g' C X ^ 

Is .2 



iz: o 



a 

is ' 'c ^ Q 

.9 .=«'0 o 

•g-s-o'^" 

H ti to o o .-s 
■ - a ^ *j a c8 

3f^Q;z;MO 



•ON IBU3S 



—1 IN 



CO -^ »0 CD t^ 00 Oi O '^ C^ CO ■<*< lO 



CO t^ 00 C5 O 

.^ -H rt rt M 



STATISTICS OF INCOME 



73 



— IN 


M 


■^ lO 


t~ OOOi 


^IMCO 


"* 


IM (N 


CS 


(NCMIM 


IM IM CMCO 


CO CO CO 




lo 


^ 


000 


■# leoi-i 


-* l-«i ira 




CX) 


Tt* "<*' -^ 




N '« 


IM 






TTINCO 








«o 


t^ 


COOCD 


rt ; ^ 


^o 11 1 


w lO 




CT>0 ■* 


i c- 






!o 


to 


rH rt--. 


^ 1 


10 liO 


>o 


i>0 




r^ t^ (N 








■ CO 


10 


r^ Tj^ 


iC^C^ 






'<=> 


Tf 


•* !■* 




01 i'c» 


OJ 


lO 





CO ICO 








l** 


>o 










lOO 


00 


r^ t- 




CO icD 


CO 


^ o 


CM 


10 i«0 








02 





IM iCO 








1^0 


cc 


0^ CO 




rH 1 »-l 


^_J 







t^ t^ 








rH t^ 


-"' 


t^ 


E £0 






100 


CO 


COrtCO 


CO IiO— I 


Tt< 1 •'^ 


»o 


n 




I^ t-H I^ 




to ,S 


CO 






.-I rf CO 




















N 


■^ 


TJH ^ 
























'"a ' 












1 1 
































00 , 




1 ^ 1 








a ; 
.2 ' 




;a 1 
























1 X 1 








u 1 












3 ; 




! 1 








T3 . 












OJ 1 




(M 1 








-O ' 




IM 0" ' 




















^ I 




3g i 








Ut ' 










<^ 1 




m aa 








>> 1 


























Id 








.9 i 




Ill 


' ' 2 ' 


1 Im 

1 iCO 


3 






I 1 c:" I 






> • 






, , X 1 


1 I (D 


a 


■ag 




Hi 

goo 


, . 03 • 







C30 




,^ <^ 03^ 


"0 Ic' CO 

2; ' X is 

a5 '^ 9 


>. 


.2 "-2 


a 
.0 


«^ ?? !fi 

•S 03 03 

si:!:; 


i2 2-5 


.2 


£ S 
eg 




3 
■0 


Ill 






C3 

3 




■S 


_g 


2 0^^^ 

c J2 Ofn 
"2 X X X 
H 03 03 rt 


^0 




"3 



OJ 
ce 03 03 


H 


e^M 




a> oj 


s^ee^ 


S-<^ 










X 


■o 








OJ Oj 0) 


C8 


TS 








I? 2; 2: 


^ 


< 




:r;=i 


m 


rr lO CO 


S?5Sg 


— ' c^co 


^ 


W !M 


Cl 


CN IM CS 


CO CO CO 





CO CO cc IC CO 

aaa 



CO 



10 10 ^ 

aa" 
- -- -0---2 

t^ 00 cr. — rt 
o o o 00 § 

o o c c c ? S 
•2S3 o c-Sg 

-----^-•^-^ 

« « B aj'5 «-^ 



d5.2o 

S °^'m"3 

a-aS'^ 

o ^ cS'c; 

O C3g_^ 

•3 ose >> 
1-5 <a -Ti 



o-o ^■^ 
-- F f= = 
5 ^ &a 



*±IM 

C.3 



a3 



aco »j^ -5 § 

•- a a £ ^ 
oj . -S a 

-»f IMCO — 

■g O O S 03 

. C O ^, t„ 

cMiN-rjs ^_ 

CD a CU^ 03^^ 



_ ~ „ -r XO C*: 



74 



STATISTICS OF INCOME 



00 



u 1» 



<;j o 



E -S 



■ON I^paS 



1^2 a^ 



OS 



CC^iCCD 1^-00 O O ^ M CO "** 



-HQOO OiCC 



CD »C O »0 






Ol •-' -<1* OS u^ »o 



-* r^ (N (N O CO 
C^J lo ^ ^ iC 



r-iocs cs 



CD 00 CD TT C^ •-( 



(M C^J CC 05 TT (N 



OS CO t^ -^ 



Tf^ Oi lO -^ i-H CD 



1— I 00 CO lO 00 CD 
Oi OS C^ CO CO '^ 
CO CS »0 r-H CO '^ 



^'1 

c p 






Pis 

^ t. n o 

03 — 
C0< 






;z; o 



•ON [euQS 



CC -"T »0 CD t* C» OS O t-* CS CO - 



STATISTICS OF INCOME 



75 



rHrtrtrtlN C^ CS !N IM IM IN (M C^ C^ CO 



^ CO »o c 



IM O OO 



CO 00 00 



lO rt •-I 



(M IM C^ 



IM <M (M 



CO -H 






03 >) 



o ^' 



i.Es2-S 



3t^i— k2coO0h CO 



CO 



"S IB C CO 



C3^ 






5= c o- 



t^ 5^; u (- 03 

£^ c^ Of, 

•C >< X X 

C C3 03 (S 

3E-Hb 






CD t^ 00 Oi O *-• 
—1 rt ,-.^(MiM 



C^ IM CS CO CO CO CO CO 



P. >, 
IM « 
«9 t« 






<a & 



X<M 

03 =? 



St3 
O 1) 



4»0 



tfiS 



c a 

•^ CD 

01 o» 



-— . CD CD >— •— 



o 3 
C-^ . 
O g t- 
l-i »- o 

ax n 



-vJcoco' 



i aft 



03 cd 



SE.£ 

J= o 3 






c c 



2c 
o 



o C3 



„„„__<NCO'0<^ 

lllltllllli 

„-„-„--- X 5 <N iMX O^ 
■oSS-^cc C£XI-^-t^J3 
o <u q; §; C,e S o2S " 



> a 

O 03 

a> o 






a 3 



3 S „- 

a c -5 

c t. a 

aoi 

Ci''^ X 
ir; -^ O 

£"00 

- 3 & 



O 3 K 

Q>— ■ 

.tJo-o 

300 
5-° H 
?-0 cS 



■g OJ t- 



g Oi 03 



P^S^ 



CC o 5 

•o.":: a 

»0 T; O ' 03 .S ri 

63::2S-£ 

.2 E 1^ a c 5; ^ 

^ •— CO cs a^ " fe "e; — ^ 
■g(CcD« -^^ .£ oE 
oco --.iioc^+j ^cy 

■o a aa -w a ""« o-g 
t> >si IM ^ .3; r,r^ „ -^ CO 

<^ '15 n^ r- — C C3 .22 ~ » 

^ " o c 2 2.^.c c,=> 

fl"^^^,^ clr:r~3"^ -—00: 

^ gcBCCIifj-ST-'^'CTSii-cc'o' 

^ oxE. "-wji co^ 

■O rt O O tC 03<1 «^«& 



E-- m 



3^E 

■c£.S 

„ O 03 



~.tj a o 



^.S ■£ c3 

ml 



186585 — 40- 



76 



STATISTICS OF IIS^COME 



■ON l^P^S 



3 '^ lO O t^ 00 Ol O ^ C^ CC ' 



cot- OC Ol O 






O GO 
CO 30 



X ac O -^ C: ^ 
— X cc ■^^ ro oc 
o — ^c X r^ (N 



CC O '^ Ol'* o 



o o^r OCO 

*C C5 <N OO't}' 



X o CO r- 



OC5 
CO t- 



X CO r- o -^ lo 

^ t^ t^ C3 X IM 

'^ r-( (IT! o: ':p t^ 

x"" cc cioomoo 



w II O COO CN Tf 

O r^<N (N CO 



ox i-H 



t-X 



-— t t-- O tM lO lO 

:C CT -f O X X 



C5 IC O *0 r-l -^ 



COCO«D^X 
Oi O CO O 
CD Id -^ CO 



CO CO 05 O O CO 

r- iC c^cooco 

--H CO Ci t^ C^ O 
C^' t^ ^' CO --h' tjT 



CO CD Tj« O 
O O CO lO 



O OCD t^ 



tC CO 
rtiX 



X t- ^ Oi (M O 

C^ X coi>-x uo 



CO c; CO N 



X OCO CD O 
CO — CD X 
-— ■ X CO lO 

"*r CO 



— ' II <>) 






wi O CO Tt* Cl -^ 
»d --H O ^ X X 



Tj- CO CO C^l 



CD t- t* iC Ci 

coco CI »0 
■sjTco 



CO o CD C; 

CO lO CO ^ 






lO'* h- LC -^ Oi 
1— ' r— CO CO O Oi 
CD CO -H CO X C^ 



O b- o oi to 

CO ^ i-H -w UO 

X CO CO CO 



r- CO CI CO 



cox — ' IM O t^ CO O 
.^ X — CD T* (M 
t--CO OwCD'-t'^O 



=0- I 



I^X lO X lO 



- « 



!M X X O 
'^ O t^ lO 
X CO »c o 



> ^ M X ^ 

oTt^'c 

X' CO -—t 



»0 05 •— I GO CO I 



M:^ CO X 



^- iC h- »C lO 

CO o ci r- Tf 

^ CiC^I X ^ 



■^ O (M CD 









?« s 



; __ ^ tt r . 



o 



§,3 



a "^ rt =j - 

- ^ a §^ 
S ?'"-?■ 3 

• • "^ 6 gllS 
c i_ K o c.t; 

O C; *^— a. I- 

•- c x: ^ - « 



2: o 



•oj^ IGuag 



MtI< lOO 



CJ O '— O* CC -^ 



CD r^oooso 






STATISTICS OF INCOME 



77 



r^ GO Oi o 



CO cc CO o 



^ t^ -H 



00 CO 00 



CCrt* Oi O) 



IC CO (M <N 



OCO Oi 



CD — ' 



OO"* CO 
»0 r-H 00 *0 



1-H I (M -H —t 



CSS 

0-" 



2 S-g 



D o 
o '42 

•> a 

" a 

^2o 
fe-SE 






n 


03 


X 


o 


^^ 


o 








r^ 










o 














•a 


>^ 


f , 


■i> 


d 


CS 










H 



O cB cB 03 



2;:? 






y-H <N CO -f?* U^ 



— ^ 'O C3 



CC fCCO cc 



78 



STATISTICS OF INCOME 



» S -3 









^^ 


N 


«■* «o 


t^OO 


C50— ' NCO-«< 


lO 


CD t^ 00 O O 


^^ 


CM 


CO 






•ON I^uas 












" 


— , — 1— 1 — 1 C-JN 


CM 


cs 






■o 


^ 


^ 


«2g:^ 


C! 05 


00 r<i ooo ooo 


UO 








t^ 




M Ol 


—1 M« 1 


o 












M 




CC05 


CO o oc^ ooo 


■^ 


CM ■.». 


00 CD 1 


^ 












•>J< 


o5 1^ S 


CD— c 


OO t~ CO — -1 CD 


e» 


— o 


ceo . 




OO 








ij 




lO" 


o'o'j'-Tjr 


CD-t^ 


co'co" o' 


co" 


O-r CO- 


oTco ' 




uS 












m lo 


03— 1 


—I IN 


^ 


CM 


CO 1 




o 














•"• 


e^ 


Cv| 
















o 




























~ 
























Co 
30 


r^ 


00 


O! r~05M 


05C0 


(N UOOOO 0> 


CO 


coo CO o coos 


^ 


r- 








c^ 


«^ 


to "O -H (N 


CO 00 


O Tj* (N M* 00 ^ 


t^ 


^ r^ o ..*. o 
















>om(N lo 


CDC«5 


O t^ CDCJ CO CO 


CD 


^■V CDCO CO 


o 


c^ 










>a 


^ »C TjT 


rtO" 


iNco-T -T-*" 


Oi 


C5— .- COC^- 


^ 


00 














-^ IN 


-t'O 




CO 






CO 








Q cT 




















































o 


























lO 






















Is 


IN 


^ 


(N O XCM 


C^O 


--INO t^COOO 


CO 


05 OJ-< CMOS t^ 


o 


r^ 










00 


— I TOU5 — 




CO CO »0 "tf O -^J^ 


05 


O 00 »0 OS CD 


00 


Cs 










lO 


O 05 0CS 


3m 


^ CO CD-* CMOi 




0-* -oonco 


CO 


CO 




TS 






oT 


Ol' C^'iO 


r-TTt-" 


IN--.--.- ^-rt 


CD 


t^-Q- O" CO- 


^ 


c*^ 










M 


CO 00 


C^ « rt 


lO 






CO 




3 




g "O 










" 


^ 










a 
o 




n 






















"So 

§8 


Ol 


05 


O 05 0>M 


—. lO 


cofi c^ O coco 


c^ 


OS OS 


00 OS CO 


Q 


w 




o 

1 


tS 


m 




OO X O CD 


■<J* 00 


IN ^ CO O CO 00 


r^ 


OS-* 


CD — ■ CO 
















CD t^ 

O 00 


Tf t^ oc >o CO — ■ 
oT -.--.- -.-TjT 


CO 

-*- 


00-1 


^ CO •* 


cm" 


o 




w 








INI^ 


05 ^ 


(N 








CO 






a 

o 


§" 
























<1 


o 
























3 


a 
1 


M 














































a 


J 








—!•<»> miN 


C35 CO 


IN •«« (NOINCO 


o 


00 ■* lOO CM 00 


o 


CO 




o 




li 

8=^ 






-^ -^ CO ■<*< 


00 IN 


— CO CDO CD05 


■* 


— t^CMCOioS 


■* 






> 








•^ ■* 00 t^ 


■s-o 


OOIN lOt^ CO 


o 


lO O OS-* ^ 


-* 


o 






m 




r-T 


<N->j>"ooor 


UOIN 


odlNoi'lN-CO -h" 


CD- 


CD-Q- CM't).- 


Os" 


'^*' 




s 




cs 




00 w 


COCO (N 


CM 


rt CM CM 




t^ 




























"3 


"o 


o^ 
























s 

03 


-- 












































■a 




^_l 


IM 


OS 


lO — 'Mt^ 


CDIO 


(N Oi CO t^ »0 ^ 


IC 


t^co-<ooo 1^ 


o 


Ol 




a 


1 


o 




IN 


O -^ CD Oi 


OO 


^ OOO CO CO 03 


lO 


^ OS CO t^ kO 




t^ 




3 


-Oo 


l« 


t^ 


05 ^ Oi »C 


COt^ 


CO t^ »0 CDOO 00 




■* iO ■*. Tj. t^ 


»o 






-2 


M 


og 




^ 


■occw-cd" 


oT CO- 


CO oT-^ lO 00 oT 


co- 


oco" — "tt'os- 


o- 


Iq" 




o 


3"= 




■^ 


^ C^ cs 


CD CO 


coco —1 —1 


-^ 


.-HCO ^ 


CM 


OS 




Ui 












M 


CO 










S 


o 


o '^ 






















s 




"^ 












































3 




, 


OJ 


^H 


C33 — . lO r~ 


CO 00 


— (t^rf.^ t^co 


00 


CD -H CD •<»< t^ t^ 


o 


,_, 












OS 


»OCD t^lN 


IN CD 


OlOOiO t^t^ IC 


05 


OOS ^ ooo -^ 




CO 








-o 


00 


n 


oomc^ "O 


0(N 


cs ^ r^o CD ^ 


CD 


iO »o — 1 lO CO CO 


CD 








o 




cc 


ci'-^cc'cD 


r-Too 


•O-IN-OO-OTOTOO' 


00 


iss -^"^f^" 


cm' 


CO 










■^ 


-< ^IN 


lOIN 




N 


CO 


05 








o 


















































rt 


^ 


MO tOI^ 


«« 


—1 CD CO coo t^ 


o 


o OS>00 -<^ 


o 


OS 








Q 


-^ 


s 


CO ffl CDM 


00—1 


O CO-* CO 00 CO 


CO 


— . t^CO OS OS CM 




OS 








13 




•* 


C<10 — 1 Tf 


Oi t^ 


t^ en IN Tf t^ Tf. 


CO 


lO 00 lO CO OS 


o 


CO 








CO 
3S 


^ 


ci 


^"i2^' 


r^oo 


CD-^-^-^ oi" CD" 


00 


•*-CM- — .-»OCD 


CD 


tc 










•V 


TCO 


•OtTIN -H ^ 


§ 


rtCM 


-* 


OS 








o 


























o 


















































00 


00 


CD OS -^ OO 


I^ 05 


o CO Tt* r^ t^ 00 


^ 


CO CO ^ r^ CM 00 


o 


r^ 














lO h- t-^ Oi 


OiN 


COIN -<0 O t^ 


00 


t^ CD CO CO OS -* 




■* 








"C 


r-" 


o 




1^ Tf 


— I 30 'J. !N !N — 1 




CO OS rt M. t^ 


CO 










28 


^ 


OO" 


^'t-Tioi^' 


^f-T 


co-eo-Q0--<-t~.-iN- 


-.^^ 


o'lo- -.-lo'co 


t>r" 


"^ 










M 




CO t^ 


O CO — 1 rt —1 


Ol 




■* 


00 








O 


























>o 


























^ 












































i> 




























■a 




























» 




























^ 

b- 


























lis 03 


























2 >. 
























i ' 


1 o-"" 
























H ; 


















^ M ! ! J 1 


:S 


' 1 1 1^ 1 




§ i§ its 

> i-g 1 Ct3 
















^ ^^ o C 1 

a 


. o 
o 


■?< ; ; ii i 


















1 o 
; c 


ca § ! c I 
to " 1 . « ■ 




1 iljil 


a 


c 








g 

3 

£ 
o 

6 

3 


O) 


"5 "3 


.^ G !- a •- 3 


d 


- S bi B— 3 

=a S, fa §• S > 
n3S=3.§0.£ 


.c 

a 

i 

i! 










^1 




u 3 » ® a-c £ 


1 

o 








£ 










£ 












:?: 


o 










^ 










IBU8S 


^ 


C4 


CO TT O CO 


r^ 00 


C50 — C^l CO -^ 


la 


CD t^ 00 (3S C? r-< 


<N 


s 




■ON 












'"' . 


^^-, 


^HCM 




w 


c< 





STATISTICS OF INCOME 



79 



CCCOCO CO 



(N C^ 00 



OSCS C5 



-^ to -H 



IM C<l <N 



I-." 00 "O 



CO-co" 



a;, o 



00 o cc to 



OS CO o 



o :o 
too 

oTcf 



t^ CO 00 o 



coc^ >oto 

CO -< — 1 



I- is t- I- a> [3 2 



•S , 



i O) 






S o-O'C ^ 

Lri ^ b« bri cd 

"2 X X x: 
9 ce cs c3 





C3 
C 
_C 

-5 


•5 


T3 




T! 


III 




.— 


<; 


t^ 





=:.: -^ 



. -co . . to CD to 

COCOiO — — '___ 

00 0> — 00 C: 

'oooooSSS 
a a a c aSSS 

o oo oo § § §^ 
0^ o a:i a:) oj-S-^pS t 



>.^g2^ 



CO CO CO CO 



a-CTIco: 
£ I- g-o >> 

H O g w >- 

I'g^'!! 






^ S°gS-| 



c3 en 



•^ « ■" ^ 3 
>>C^ cS-3 

3 a a"- M 

■s B aS2 . . 
.i4 o cfl a oi t- CO 

"3 ^CZ o t< «"" 

{3 o t- iH? B . 

£.2 „ ag aa 

2o3>H-^ ^<D 

age a..-SSo 
TT ^ £ oc 3 a o 
7, .9 a aa> St3^. 

~_0-^ •-— § 3 ® 
g^co-§^«.22« 

2£-_«.|— - 

tn« tO!M o S- 
.5 ftSS'c'^ S 



m 



80 



STATISTICS OF IXCOME 



j» » -^ 






■^ b 





•ON IBiJas 


-- 


C^ CC "* 10!0 


t^OO 


o: o — ■ CM CO ■>»< 


o 


<or-»c»o 








CO 


■»*^ C5 3C 00 O 


OO 


COXXCOCMCM 


CM 


XC3>-*0>0 










00 00 — NO 


"'J' c» 


COrJ. — COXCO 




CM IS t-CO 






>-( 


c3 


O QC t^ IN CE 


l^t^ 


irc XM> t^sO O 


CM 






§ls 


^ 


c"?" ccTjc-rf 


CO*—* 


u:c"crTl"*0>*-3<*0* 


CO* 


X*—* CM* 








CO -1 


CM IC 


t^ CM— — 


in 




» 




3 




























GO 






05 


OS rj- — O ir: 


CO ^- 


CO — CO C: t^ 00 


a> 


— OS OS CM 






00 


CO OC 1^ ri o 






o 


OS r~ CM — CO 




V4 




CO ^ JQ c^ ir: 


UO — 


t^ t^ CO =2 CO-* 


« 


-a- — co>o 


•a 
n 




§|§ 


- 


iri" >o"ofo 


oco* 


r."uc"cq*x"co*x* 


c5 


tc*X* — * 


03 




s 














o 


















m 


















a 
































j 












C^ C^ — r^ C: 


-a- CO 


OOSX-*'OCO 


OS 1 


X — coo t~ 


o 






to 


o ^ N ^ o 


coo 


■*OCO>OXCM 




COO CO CO 




Ui 


r~ 


O CC u- o w 


>-OC! 


-* o c>o oox 


CM 


CO W ■>)< CO 


2 




o-So 




CO cf-.--*'" 


00*0* 


ario*co*io"— *-^ 


t~-* 


CO*-*" 






3 






CM 




a 




>> 


















S 


„ 


















« 


t^ K rj X ^ 


^_, 


CO CO^iOC OS 


X 


r-r^— 1 CM ira 






o» 


00 — .~r 1^ --^ 




CM ».0 — — O X 




00 -^ 


C 


m 


Ui 


00 


O ■<?' -^ " w 


CO ?i 


OS O OS t^ CM O! 


C-1 


00 coo 


a^ 


© 














o 


d 


§-§§ 




00 cc — ic 








Tf. ■* 


E 








— CO 


CO — 


t^ 




es 


3 
















-S 
















>S 


d 


















o 


















« 


C^ 00 COIN 00 


■^ to 


CS t^OX — 'C 


c- 


X cocooo 






<o 


C3 CM 00 »-'^ CO 


io5 


CM r^ t^ t^ o t^ 


r^ 


CO CO -* X 


bi 


o 


O CM CM -^co 


CO'T 


X '0>C t^x-* 




1^ COlO 




c 


o 
















o-So 




OS CO— OO 


oco 


CMCscocq •* 


CO 


■fl-co 


t~ g 00 






— iCM 


CO— 1 


l^ 




S3 




3 














O 


















(N 


















CS 




































"o 






CO 


00 CO IC '^ CM 


CO CO 


o; i^ t^ o r^ CM 




CO OS t^ -^o 






-Si 


P: —CO-r CM 




O: r^ CM « OS CO 




X-* OS — 




t4 


CO 


•^ CO CM CM CM 


OCM 


CM t^O — X CO 




WC CO CM*0 






o 


















c-S o 




CM CO — « 




^"CM*CO*CM* ■*" 




■*co 


o 




3 




CM 


— CM 


CO CM 


X 




o 


















D 








































o 


a CM — CO o 


ox 


X lO CO >-o O — 


CO 


CMCOOOS-* 










— r~ 


XXCOCOO X 








u 


§ 


S coS coo 


CMC< 


■O- CM — COXCM 


o 


X CO CO CO 




a> 


















0-3 O 




— " tS" — CO 


CM— 1 


C0"0 CM -X ■«" 


CO 


-*CM 


g 




■=£» 




CM 


— ICM 


CO CM 


X 




-3 




3 














C 


















3 

■a 




















C" 


—1 1-* CO CiCO 


CO 00 


— CMor~coco 




t~«iox>o 










ca t^coooo 


co-^ 


XX — COM- CM 


CM 


00 t^a> 


e 




Ui 


o 


lO rtCOCOO 


t^co 


o coco — -a-o 


s 


•ct. 






o 










X 








e-co 




CM CM CO 


CO— i 


oca CM 




CM 


a 




■* £« 










X* 




fr« 


















3 


















o 








1 










« 


















!0 


CM Ci— g>g 


— X 


X lO CS TT CO X 


"^ 


-9" ot^soro 












■ CM I^ CM •*?■ X OS 


X 


oases coo 




.— 


T-l 


S O0C«R 


CO CM 


o: t^c<l X rco 


>o 


e<i ocMX — 




=? 


CO" 


t>r CM-Cm'co"!^ 


-r^- 


--*■<-* iT-* ■^~ —* —* 


00 


-*"co* o"os" 








00 X O — X 


X — 


O O CO t~CO X 


CM 


•«<0 CM CO 




r^ 




CO -CM — 


iC M 


X re— — 


X 












■-' 


- 
1 


CO* 
















M ; i-i 














'ill© 














S : ; ;3 














m C 














a , ■ , 






;l| iJ-S ; 


1 c 
1-2 


; < 1 ;«■ 1 

d : i is ; 




t if il 

1 W 1 '^ 






\-v-^t. = £ : 




SB : '.Z • 




> .-g i_G 






;gnSS-3 : 


, c 


ti o , 1— 1 
















a ; .2 , _ 






I w C 2 ^ , 


: S 


c"! ; ! § ; 

IJiJIi 


o 


t- ■ — M ^ 




O 


; c 5 2 S"!^ 


■Hi 

II 

— M 


s 

■3 


== 5 - cT" 




1 

"5 








lillll 


















3 


s 













:z 










- 




■( 


)K iBuas 


1 - 


CM CO-«->= CO 


r~ X 


050 — CMCO-* 


— 


CO t^ X OS 



STATISTICS OF INCOME 



81 



^ C<1 


CO 


■w- lO 


CO 


t^ 00 05 O 


--• C^ CO 


* 


C^ C^l CM (N C^ 


C<I 


OJ C^ltN CO CO c^ CM 


"O 


<N O 


•^ 


ooo 


QO 


t^^OOOO 


CJC^g 1 


» 


C5 ''J^ 




oo^ 


-* 


CO (NCO 


Tt< ^« 04 CO 


(M O 


00 


o> t^ 




1—1 »— 1 


O O O 


CO 00 


•^' 


S"""" 


oo" 




to" CO* cc" 


'^ 


t^ 


C<t T~t 


t>- 






o o 


h* 


«-«< 


cq 


o inio 1 


OC -^ CO 00 


X CO 


Oi 


t^r^ 




N — ' 


CO 1^ ^-"^ ^ 


Ci »o 


ec 


•<»< o: 


s 




^ ^ 1 ^ 


^ i>r 


as" 


n'-i" 


"^*' 


^ 


ec" co" co" 


-^ 


!C 


O 


« 






•^ o 


CD 


M 1 


CO 




c»-^>5 "5 


C30 '^ 


C<1 




Ol 




5£ S S 


^ Tjl 


05 


t^ • 


IM 




CO CO CO 


---" cT 


o" 


a> ' 


CO- 




t-T i-T ^ 




■* 


lO c 


IN 






o o 


cc 


in 1 


»c 




oco J:- j:- 


r^ ^ 




(M . 


00 




;:^ S 2 


t^ GO 


ij 


O 1 


1^ 




C^l M c^ 














lO* 






CC 






cc 


^ 


«3 1 


(N 


! ! 1 ! 




o o o 


M 1 


f.1 




— 1— lO o 


Ci CO Tj< 




CO 




■* 2: s; 


0-^05 


CO 1 


00 




05 a> oi 


<N -' 


!--■■ ■ 


•»ji" 






Tj* *0 




M 






uD O 


o 


,-1 1 


^^ 




00 00 


00 


O '^ 


o 




C^ 






"t 


-<*« GO 




O J 


00 




CO CD 


CD 
















CO 




W ■ 










iO 




1^ . 


e^ 








CO O 


lO 


05 " 


a 


1 ; : 1 rtr--. 


_ 


a o 




m 1 


w 


i 1 i 1 CO CO 


CO 


c^ o 


^- 




«o 


1 1 < < CO CO 


CO 














"^ 


N 


00 ■ 


•^ 






CO 


t^ 


t^ ; 








(C o 


05 


^ ; 


■^ 


1 1 ! 1 oi Oi 


03 


■^ (N 




00 1 


CO 


1 i 1 I CD CO 


CD 




'Jl 


■* . 


CO 


















CM 






CO 






'Tt* 




-^ ■ 








lO o 


■^ 


IOt>< 


lO 


oooo •* e^ c^ 


^ 


t-- -^ 


-^ 


OCM 


-* 


CO OC^*^ iC CO IM 


2 


^ CM 


05 


00 t^ 




■*— .OO-O —OXJt 


•* 


t^" "** 


x 


CON 


oT 


<a o'cD* od" h-*" 


TjT 


-^ CM 


o 


•^ o 




r.- kc i— ' OS OS 




lO 




e^ oi 


t^ 


IM IM 


co 




-^'" 


im"— T 


"^ 






, J 




;o 








2 












3 




IMC 








'S I 




<^o 








© 1 












*« 1 




3" 












^»3- 








o t 




G-— 


>. 






z I 




co_>. 










^ 






s ' 




m X* 


c 






^ ! 




© c3 


ce 






® 1 












w ' 




>C o 






1 1 1 «" 


•o 1 




c.<; 


' '2 ' 


1 1^ " 


a ; 




CS 


CO 




i i" § 


5 ! 




s2 


o: 


IIP 


' '^ a 


ously taxed wi 
tion ($40,000). 
ictions- 


II 


o 


:t: 

credits 

Rift taxes » 

inheritance ta 
is 28 and 29).. 


ler 1935 Act: 

flift taxes » 

ioiial tax (31 Ic 

X liability (30 


■> = 


■l 




~ 


<§S^^ 


ii.SS 


C3 






MSc3 



o o) a> <s 



1<? 



r^ X ci o — ' ^ 



CM CM CM r^ 



CO CO ro eo 



82 



STATISTICS OF IXCOME 






^5 ^ 



^ S 



I 

< 

I 

CO 







•0 


s^IBuag 1 


- 


r^ 


r-:-r u- ^ 


r^ X 


= = — j^ ;2 — 


- 


s; r- X c: = — 


?, 


r, 












_ 


_ 


X = o — 


-. _. 


X n X = X =; , 


4- 1 


ra c: — -»• : 


= 


t^ 




















r^ =; = N X = 




^^ — xt= . 


*^ 








■a 




i-ss 




"*■_ 


fe TT P; X 


:c t~r 


X t^r-: <= , 


^ 1 


— ~ .'^'^ ; 


": 


00 






o 




-B > 








3>— ' 


— ■■ 153 1 


si 
1 






o 






3 




O c3 O 








' 


1 












_n 
















































■ 






















i 


! 












a 
o 
O 
































r- 


X 


_.^-,_ 


_. _ 


^, ^- ' 


„ I 




^ 


t^ 










CM 


t^ 




S 30 ■ 


u- T^ S ^ X — ■ 














1 












= n 


=: r- =: ?> r; re 








c^ 






1 








t; 


— 1= — " 




^-„-_ _-_- 


—- 


_- _- „- ^- 


^ 


»• 














— N " 


^ § 




s: 






ec 






i§ 












~ 






































































•o 




















































S 






N 


_. 


M 5 X n 


M ca 


— ra = E: SS 


— 


n c; — ri c: r^ 


-^ 


t>. 






eS 






•«■ 


X 












X 


cs 






e 




° aS- 






o CI :r r^ 


X rt 


— re ^ ■^ cs :^ , 


— 


O rr -^ *.e ;^ 




X 






1 






=' 


■" r^ 


re X 


c^ — — 


g" 


tCi" =~ 


■" 


s 






,^ 




CO a« 
























o 






























■3 

2 






































]r 










< 


3 




e* 








:= ri r> = ce re 


rQ 




c 


N 






a 




lO 




X X = g 


"?■ X 


N — r: = r; X 


t; 


c^^ s; — r; 


X 








>. 


a 


CM 3«> 




-■ 




= x" 


■r- t^ X 1= re — 
= £-- --^- 


§i 


X —1 — re-s- 


o 


o 




































1 


























S 


«* 




























c 


X 


-^r:M 


~-^ 


c^ •*?• M o c*a ce ■ 


_ 


X ^ •= o C^ X 


Q 


so 








1 






= 




• X c^ 


— o cc o ;c cs 


^ 


— r^ c-i r? i-e — 








I 


00 


2 o§ 


ei 




^— X r- 




o >.e ?) te t^ sc 


C 


>-e te cs ^ — 


rj* 


o 






C3 


•— 




tc 


m"-^'x =: 


L-".^!" 


x'c^'cJ'rJs; — 


cd" 


ceo ?i''<^ 


cs 


t!^ 












?» 




• X t- 


re r? cq 


N 


— ?3 IM 




t~ 






s 




i-TS ci" 










c^ 














2 
























(^ 




~ 










1 
















— 


- 
















































_I 




X 








•= — c;M 






e 




















c-e-ic X 


I X ts 


>= X I-e e<i c^ ce 


lO 


cj5 S !=«: 










S 


O 


bO 


u: 


X 




:-■:- 


c: t^ -r 5= X t- 


cf 




o 


« 




z 


a 






"=■ 


"^ — S S 


1 C 5C 






— -) — 


N 


o> 
























1 








£ 


o 
o 




















































■< 












r^ L-r 


t- t~ = X e] rr 








N 




X 














JJ TT TT £ Jj-^ 






S 


X 






o 




k> 






X r; ri TT 
















3 

ai 






o ©o 




_r 


e<— " — ■ — " 


' — "tC 


'^-'c^x'scTx" 


^ 


>c— " ^"— -^C 


e« 


CJ 








"" 


— US 


• S c^ 


X ^— — 


g 


1 "" 


n 


a 




>k 


o 






















































2 






















' 




_2 






ac 








= — — t^— X 




















!rj 




X ^ r5 S 








1 '^ " ^ ^ 2£ "^ 


c* 


t^ 










Lri 








r; X 


c^ — i: ^ 5 S 


c5 






o 




■5 


^ 




2-22 




! =^- 


~) _-—-_" 


t-."t~" 




^- 


1 -^tM" —t~^ 


tn 


« 




5 


— 




eScS 




~ 


— — ^J 


' ^ 2 


>c -r n — — 


S 


1 — ^» 


-i> 


o 




X 


o 




— 






















9 
X 


a 


















" 








X 




























a 
























~ 










x 




:r L- r^ :c 




■^ »c i^ — re X 




r? — ' — t^ ra ra 








"Z 


3 










t; := t~ X 


• X r- 






1 = = r; t= = >-e 


r>\ 










Ul 






r^'^ c: r^ 






X 


cece — ^ c 








^ 


o 




III 


_r 


r-T 


— t-^«^t-^ 


— o 


^3 re x' — ■ l~r _" 


c-f 




^ 


t J^- 




a 










• r-. P 




i; 


r — -; 


^ 


' X 




I 






^ 


















































X 




















r 








X 




























s 




























^b 










1 " 

'c 

■X. 

— 


■3 '= -2 i 


5 


^"3 ^ 




' ! 1 .' ; 3 

. 1 1 ■ ,-3 
. I 1 . e 

! I : I {"o 

Miiil 

: : : ils 

i ' ' '1^ 

g 1 !e"5 


^ 














r 


E ^ =-5_3: 


= 




- 


= ^ "^ 3 Tr^ 




^ 












J 


i~~= = 


■r ^ 


~ ~ ti g ^ 5 


J 


'= g tj £ £ r 


H 


= 










v. 


v. 


~ = 2 -r f 


— "x 


•A 


— ziE. -5 "~ r 


f 


1 










^ 


?^ — -E 


^ S< 


^I 


^Wh 


iL 


c i -2 -= ^ ^ = 


is 


1 










1 






"S-B S 


~ 


|^lll€£ 


31 


~ 










3 


^ 










^ 














z 


~ 










- 









•ONiBuas 









STATISTICS OF IKCOME 



83 



r~ :/■=■- O 



c — o 

DC X" OO" 



CJ — — 



^~ "a. 



^-«; < 









0=0 






c c o a 
c c^ o 



o c, g ? 

txxxco 



^5 .5 Sj i-i-;C^ 












-t:^ M c^l *^ 

< £ £ < 



:ZZ Z r- 



I c^ c^ iM ci c^ re 



84 



STATISTICS OF IJifCOME 



■OM I^i-iag 



3<= 



CC -^ lO O t^ 00 05 o ^^ c^ cc*^ 



«D t^OiOC O 






^ « 



•ojsi I^IJ8S 



00 Nt^b- 



Oi CO l>- lO (N CD 
■■S' (N OS '^ lO -^ 



IC iC ■«*< CO to t^ 
as ^ t^ lO r- 1 lO 






CO 05 »0 lO 



O r-t^ 



OS t^ Tt< C^ C^ CO 
00(M i-H r-t-rj* 



^* Tt* Oi lO "^ C^ 
00 -^ O t^ 00 -'J' 

«D CO C<J »-« CD 



fl o >>:= G^ 







' ' C<l 




I 1 ^ 




; ; " 




















1 1 « 




1 ^ 




■ 










C3 







J S^ TO 



C3 ^.G c(3 C3 






= e- 



o o o Sc 

2 tn" - S ^ 

p as ?z 

^ C3 B S - 



J3 ■ 5 M § 
|"J|o- 

9 o 



a> 



>- to o OS ja 



B 1-. to O O. 

O Qi-^" C 

■- n ^ -ij a 

o 3 Qi O 3 ^ 



Mrflioo t-QO OSO^C^W* 



^ ,_, ^ ^ ,-< t-H -H ^ ^ ^ (M 



STATISTICS OF INCOME 



85 



—1 M 


CO 




•-^ O CD 

eg N cq 


t^ 00O5 o 
(N (N <MCO 


— I c^co 

CO M CO 


CO 


i o 

1 lO 


00 
00 


S i 3 




£ '^ 


5^ 
















CO o 


00 

s 


Tj» -rJH t*< 

t^ CO »o 


CO 1 ITS'- 


CO 1 CO 


§g 


1 o 

: ° 


1 






(N !(N 


CM 


N O 

CO o 


i 


a:> iO <ji 

§ -^ 53 


t ;£=: 


00 loo 


00 


05 O 

t- o 

00 


f5 


a> IN o 


£ ££ 


CO Ico 


■* 


1 o 


t^ 


CO I CO 


; ; ; ; 


« Id 


(N 


1 o 
1 o 


2 










1 o 
1 o 

1 CO 


i 


t- 1 1^ 






»-4 


1-1 o 
.-c lO 


lO 


CD 1 CO 
IM 1 t^ 




^ :^ 


















u^ O 
CO o 


o 


CO -H CO 

.^ ■* £ 


CO ilO^-l 


CO I CD 


S 


Property previously taxed within 5 

years: Net deduction. s 
Specific exemption ($50,000) 

Total deductions _ _ 


lO -*^ -t-J 1 1 . 1 III 1 

-; o o .1,1 1.1 1 
-^ < < ; ! ' ; I ; : m 
s s s : :2' ; ! ic^ " 
5 2 2 : :s : : ;^ 2 

C '^ '^ ' ' S ■ ' ' m a 

ill : :|^ ^ : i;: S 

" a>-2 w M g da's ^ ; o >; .t^ 

g £ = £ ^::|g r -^ -2 

oi <U C3 o 03 S -a 

iz; :?; :z e <! 


« a 


g5 




!M (N IM 


ssss 


J3SS? 


^ 1 



o 


o 




■^ 


n 




a 


C 




*z 


o 




o 












(N 




^ 






r1 


n 


^.C 






--^ CO 

_• o: e<i ^• 
— t^ »o ^ 

o . . o 

■gCM CO-g 

£■222 



<M CO — CM 

C- Ci C 3 

S3SS 



86 



STATISTICS OF INCOME 



£ >. 



S "rt 






u 03 



e « 



w S S 











,_! 


« 


CO -^ »o«o 


t^oo 


<»0^(NCO->«< 


U5 


COt^OO 






■ON I^iJ-JS 










""" 


■" 


*"* '^ 






_ t- ^ 


o 


(N 




^ 00 o 


OS CO 


tocooioosco 


>o 


rt T(l i 




j:. w w w - „ 








CO 


CO ^ 


00 rt >0 •»< ,1 t-< 


IO 


OOCM 1 






3 3*^Tr.S w 










M^ 


•» <N 


00 


CM 1 






"i a o M 1- ^ 




















te ci <- 2 c--< 




















,„ 


Tj" 


to 


CO lOO ^ 


coco 


o>^ ■a-Oiioio 


«o 


oaco 1 










r^ 


CO o w ^ 


o ^c> 


IC CO -^ CO lO 


lO 


^ -^ 1 








00 


rt <N 


u5rH 


COM -H 


CM- 


-HCM 1 






Lh 


^ 


c^ 


Tj, 1 1 


"<** CO 


^Oco 


CO 1^ 


CM 


CMifi 1 








III 










C^-9> 




00 














S ' ' 


Tt^ 


■^ 




■^ 


CO 1 
































s 


















u. 


f. 


o 




■ ^^05 


0"5 


eoooosr^ N -H 


r^ 


■*05 I 












00 




■ CS b- 


ooo 


OOCOOCOI--CD 


CO 


OOO 1 










CO 






rt -^ 


io-<i<cq — 1 ^ 


t^ 


-H CM I 








c^ C CO 














^ 










3 


















u< 


CO 


^ 




•fl<(N-a< 


o>o 


iO CO t^CO ^ CO 


lO 


t^-* I 








g-§8 










CS rt 


CO t^OSt^N rH 


TT 


CMCO 1 




















•»< 










-^ CO! 
























3 


















kr 


■* 


«3 






'■>»< 


M* CO o o o 05 


CM 


CO CO 1 








§■§§ 










ICO 


CO CM 00 ■*■<»■ t. 


Oi 


CM-H 1 


1 








CO 










■^ 




1 






rt a-^ 




















« 


^ 


3 


















(3 

3 
























S 

Oi 


i 


Ui 


CO 


o 




1 ioo 


ooo 


oom-H^ io 


CO 


coe^ 1 






§|§ 




CO 




1 . Tj* 


■>J>05 


coco rH ,H 1 •<»< 


o 


r-,<0 1 


is 


a 


"3 














CO 




tc 


CIS 


o 


















a 


OS 

o 


rt 
•w 


















j^ 


c^ 


00 


CO CO OS CO 


oo 


oco i 


100 


OS 


>0 rH 1 


1 










00 


0<N 


(M CM 1 


.CM 


00 




ca 


1 

•< 


o 

O 


3 


















fM 


00 


o 


rH OCO •* 


I^TJ< 


-HOO '< 


' 00 


CO 


C^ CM 1 








® _ 




o 




c^t^ 


OOJ I 


1 ^ 


t^ 


CM O 1 




a> 




©•CO 




CO 










CO 






3 




oo go 




















a 




3 




















<o 
























> 










































u 


t- 


03 


(M« loj 


com 


O t^ CO CO 11—1 


CO 


OCM ! 






_ ®^ 




05 


rt 1 CO 


lOll" 


05CO-H,-I iT)< 


o 


■<J<CM 1 








o-cS 












lO 










1^ goo 






















3 
















u< 


lO 


N 




c< jt^ 


Osra 


CMcoc»os 'oo 


s 


ooeo 1 












t^ 






ir^ 


CO ^ 1 










o-oo 












CM 1 


CO 










o g t~ 
























3 


















t^ 


lO 


r- 


CO •<)< 'o 


l^O 


l^ 00 ^ 


,100 


^ 


00 lO 1 








-~ '^^ 




o 


rt |05 


aoi 


CM CM 




00 










O-OQ 














CM 










« pO 
























3 




















>o 


M< 


osoot^-* 


00 c^ 


— 00 CO >0 00 CD 


f. 


CMCO ! 








•<J< 


to 


■^ CO t^ 


CO cs 


Oi Oi CM 00 CO -^ 


CO 


>o o > 






oj 




■* 


« IM 


■*■«" 


00 CM >0 — 1 CO ■* 


•^J' 








"o 












lO 








^ 






































CO 1 1 
























i ' ' 
























a '' ' 












AS .. 








?< 1 




a 1 o 












Sx) 


-'•a ': 


1 to 




eg ; 














w S^'*^ a ■ 


1 a 




QJ 1 




IS I 1^ 












;tments in bonds and 
ideral Government be 
Wholly tax-exempt ' 
Partially tax-exemp 
ate and municipal boi 
1 other bonds _-- 


1.2 

1 tH 

. o 




S ' 




> Ito 
"■§ i'H 

■SoS 








a 

3 

O) 

1-1 

o 




Is 


'otal bonds and 
gages, notes, cai 
ance, gross 


U 1 

a < 
* 1 

So,' 

•aln 

— 3 


o 

ca 

o 

"a 
o 


ns: 

ral and adminis 
s, mortgages, et 
osses during adi 








*-l 


aj"^ 


2f fe z/i< 
a 


a 


Mort 
Insur 

Misc( 


O Ol 4-»^^ 

T3 a,ci« 








E 


o 


ca 

a 


^ 


3 








r3 


i-i 










» 








:z; 


O 










O 






•0 


N IBuos 


- 


M 


o- 


T}<iOCO 


t^oo 


OSC — ' cs 


CO -^ 


15 


CO t^oo 



STATISTICS OF INCOME 



87 



OS O »-t c^ 


cc 


ij<0 


O 


r^oo OS o 


r-H IN CO 


^ 


Scq MC^l 


M 


cs cs 


cq 


INC-J C^CO 


COCO CO 


CO 


^ ri !o 


00 


00 00 


00 


•O Ir-H-* 




■* 


—c ' >0 




CO 00 


00 








iM 




lO« 


(N 








1 1 oo 


M 


coco 


£2 


?5 >3 




■<*l 


II CD O 




coco 


CO 






1 1 -^ 


00 


■Ort 


^~* 








1 1 '"' 


'^ 


C^"-H 


^^ 








llM ^O 


00 


Tj< 1 


■^ 








iM >o 


o 


O 1 




i i ■ i 


t ;o 


£ 


O -H lo 


■^ 


tPO 


■* 


,-1 1 1^-* 


,-1 1,-H 


la 


S 1 "O 


lO 


CO-* 


00 




O .lO 


"3 


. M 


t^ 


coo 


OS 








II loo 


o 


00 c» 


00 


—I 1 


O 1 to 





II M>0 


t^ 


rt CO 


o 










(N 


CO 




ioc- 






1 lo 


05 


TfCM 


-* 




rjl 1 -f^ 


■^ 


S^ 1 1 C^ 


m> 


CO 


o 


s^ is^s^ 




















"^ 














1 ! 1 o 


lO 


00 1 


00 




IN Id 


N 


II ,U3 




CO I 


00 










(M 


IM 1 










^rt lo 


t^ 


IM 1 


IN 




C^ 1 N 


c^ 




O 


00 1 


00 






















rt n-o 


OS 


t^ 1 


t^ 




■* 1 ■* 


■* 




r^ 


OS 1 


OS 








^ -^ 


■^ 


>o 1 










' 














11 lo 


(N 


■* 1 


■* 




^H 1 i-H 


^ 


II ilO 




^ 1 


OS 








II ICO 


■"»< 


■* 1 










r-l rH lo 


CO 


(M 1 


IN 




■-1 l,-l 


^ 


liO 


t^ 


o • 


>n 








1 IN 


C-) 












1^ lo 


^ 


00 1 


00 












O 1 














IN ' 






o o 


L 


(MO OO 


t^ 


o o 


~ 


(N 1 t^ >0 


-H Irt 


>o 


f-H (N -^ O 


oo 


O 00 






t~ , t. 


l^ 


cs 


lO 


—, o 


00 








(N 


co" 


^" 










1 1 <i> 1 1 




1 o 

^vO 










, ,T3 . . 




^s 














.^ o 














§2 










; ; n ; ; 














■ss 
















>^ 








1 M i2 1 1 




co_^ 


a 








i-»^ 53 1 1 




d. 


a 








1 m (P 1 1 
1§>> 1 1 




w a 

_2 C3 


03 








1 O"" 1 1 




C<1 


<1 






CO 




CO 




1 1 c*^ 




1^-5 11 

1 ca-t: 1 , 

t m 0) 1 < 




ag 


' ' « ' 


I ICO 


D 




°2 


OS 


iyi 1 1 !>! 1 


' 1 " 


a 




a© 


ffl 


1 i 15 i 


i '-^ 







55 


5 


<1 12' §S 


"S ;s'co 


» -A? '" 
as 3 ' P 


a 
o 


§2 


o 


.2 toga's 


7! 1 *j'3 


1 


Support of depe 
Charitable, pub 
Property previo 

duction '» 

Specific exempt) 


3 
■a 

o 


* J - 


J5 

o 

lU 


2£-OT3 ^ 

>- g £ £ 03 

■2 X X !«! 

a c9 (fl 03 


■a J 'i=t 2 
3^05 

©■c X 

— T3 03 


X 

03 

3 





OJ 


=^&^^e 












X 








O OJ d 




03 


■a 








^2; 


2; 


^ 


< 




OS o ^ c^ 


CO 


■^ u^ 


o 


t~oooso 


^(NCO 


■* 


^IMIM C^ 


<N 


IN <N 


c^ 


IN IN <N CO 


CO CO CO 


CO 1 



-HiN <a a> 



2 ° - -o 

■25oOg 

iNiNcijIN** 

^ a> a> o) 9 



aaa -7. 






» <D <B 5 3 
03 CC 02 "-* '^-' 



10 lO »o 10 

•OSIN • • • 

at^ 10 a a a 



o 2 2 000 

o ° o 000 
"^ c o'"'~L'~i 



I I 



IN CO^C^ C^ C^ 

ffl o o ®^^ 

333333 

C6 cfi ^ ^ ^ ^ 
o o a; CD a> QJ 



a> » I 



« 



a; 



CCCOCOCOCCCQ 



88 



STATISTICS OF INCOME 



■g « 









rt 


IM 




CO -^ iC CO 


t-00 


OSO ^ (M TO -^ 





fO t^ CC Oi <=> r~i 


M 


TO 


Tj* 




ON mJ8S 














" 


l-l .-H T- r-H C4 CM 




M 


(N 






^ 


5S 


r^ 




IM IN« t^ 


^IM 


CO C?s^ 00 COO 


>o 


CO 10 CO -^ 00 





1 CO 


^ 









05 


OS 




(MTf -H rj. 


IM c 


C^ IC »0 OS »o — - 


-* 


0: 10 10 CO 


10 




CO 






TS 








m(M 




t-t-H TOO 00 


TO 


10 1^ cc 













HO 

3;2 




TP- 






^-(M 


co-TiM-rtr-T 


_r 


00 (N 


-*" 




a. 


















-—1 






.-H 





































(M 


















































CO 


U4 


S 


CO 




<N r--Tt< TO 


10 OJ 


ooTOoo-ir-uo 


CO 


»00 CN XJ 





CO 








CO 


■^ 




(Mja'OM" 


TtH -^ 


00 00 -3- !M C<1 OS 




^00 lO 00 

CO C^ (N iO(N 


ri 


s 


"^ 






■a 




00 




<M ^ t^ 


-^00 


OS CO CO OS t- OS 




■* 










flo 




iO" 






.-Tc^" 


TO-^-O^' 


to" 


00" c^f 


ic 


t-.r 


- 
































































^^ 
























































J:: 


CO 




05 r^ O5 00 


CO 1^ 






t— ■* CO •* 10 





CO 


^ 








00 


S2 




^ 00 TO 


>0 TO 


OS CO C^I TP 'X TO 




10 CO COTO 




CO 


s 










OS 






IM >0 




t- 


CO X 10 







X 










N 






^' 


-H iM---r 


CO" 


TO- 


CO 


00 








fl 




























3 





















































■s 




OJ 
























g 





10 




-^-<^ co^ 


OSC^ 


^ TO-*" Orr — 1 


TO 


»0 TO ^ OS X 





^ 


CO 


< 







p 




CO Ot-IM 


coo 


r- CO C-) 00 ^ 'J- 




CO Tt< d r— Tt^ 










1-1 




t^ 




f-l -^}1 


coco 


!M 10 iX 00 OS rt 




cox ^ ^ 


-* 


CO 


-* 






a; 


























i 


73 




« 






im" 


co^coim" ^ 


o" 




co" 




c^" 


CI 




















.— I 




g 


■3 


3 


























-2 

1 



00 
























1 


IM 


S 




TO 100 00 


CO 10 


— • — ■ X >0 TO OS 


OS 


XO coos TO^ 


Q 


X 


^ 







S3 




^ 00 00 00 




X Tt< OSO OS.* 


X 


OS T)<— . IM 




CO 





« 




a 


■-^ 


00 




TO 


lOM 


t- 000s t-x 


■* 


t- .-10 


t— 


t- 


io 


■a 
o 







TfT 






TO- 


co-TTO-cq" 


:i; 


CO rt" 


t>^ 


Ih 


CO 





3 
























3 




g 
























,2 
3 




























g 


s 


'%3 




lO 10 TO »0 


00 


OS t— 10 CO OS .rt^ 





<M X 


00 CO « 





CO 


10 







CO 




c^ CD 10 r^ 




IM TO ^ TO t- 




r— X 


iCO IM 


ts 




CO 






t-> 




CO 




(M rH 


ocq 


(M TO OS TO CO UD 


'^ 


OSr-l 


^io 








g 






'2 




co" 






~<"rf'" 


lO IM" CO CO ^ 


eo- 


CO 


^ 


(M- 


_J 


tc 


3 




3 






















c^ 




o 













^ 


















« 



































^ 


s 




£-.t~-HO> 


rot- 


M OSOO t— 


us 


10 CO^ (M OS CO 





10 









00 


c^ 




(M TO^ ^ 


as OS 






CO 1— .-H Tt* X CO 






cq 








^ 


CO 




TOC^I 00 


TOO 


■*XO-* CO-* 





»ox IM r- 


CO 


.— ' 

















r-H 10 


cococoim" in" 


^ 


T-Tt-r .-,- 


Os" 


^ 


c-f 






d 














(M 






CO 








3 

















































































g 


.0 


en 




t^ I^ CO C3 


C^ 


—■ root- TOO 


CO 


CO X IM TO X '^t* 


^ 


Q 


CO 








t^ 






^O-H 'J' 




C rf TO "O I- rf 




OS X ^ CO OS IM 












M 





00 




T-H -rt^ Tt< 0: 


00 00 


t-OX«Tj< X 


X 


rt .* 0^ oq 





IM 


iO 






■3 


,-^ 


■^ 




rt" C<f 


^"i-T 


CD"c-f C<f 


CO*" 


CO irf cf 


CO 


■*' 


kO" 






d 














Tf 




■* 


s 


TO 






3 





















































































M 


_, 




CO 00 CO 1< 


r}^ 


TflM X CDIMI^ 




-S<00 —• -H •* 





^ 


-* 















(-100055 


t-o 


t— CO CO ^ ^ r— 


s 


00 c^ »o r- OS 




TO 


■* 






"3 


r^ 







:~-IN OOIM 


—1 TO 


■* OS X c^ X 


X 


CO TO ^ X X 





(M 


CO 






c^" 


^ 




»o CO oT 


cs'ui 


^■-n'r-'ododio" 


im" 


.-T^ rH 





co' 


CO 











t^ 








1-TO OJ ,-c rt 





r-l.-l TO 






■* 






Eh 














c^ 






(M 
























i ; i ; ; i 






C<I 






















. 1 i 1 iTS 




























1 1 1 1 I 03 





























i i^ 






>o 






















1 ; ; ;|| 






a 




























ft 

a 






















^ ; c-,, 


























3 3 



















8-3 ■■J4 : 


1 a 
1-2 


' 1 1 1^ 1 




1 :.2 1^1 






K 

ID 

c:> 












!"c8 

1 
, 0. 


^ i Mi ■ 

1^ * ■ '-^ i 




inistrative e 
, etc 

administrat 

dents 

c, and simili 
sly taxed w 






CB 














3 


rnme 
ix-exc 

tax-e 
nicip 
ds... 


;S 

1 3 


■3.3 ! '~^ 1 

Si i is i 




„' 




1 

















en ' , C3 , 




a 



_o 

3 
■3 

-3 

"3 



s 








a 

3 






3 

.A 
3 


al Gove 

holly ti 
artially 
and mu 
her bon 




al bond; 
s, notes, 
, gross., 
xempt 5 
et insur 
eous 9. . 


03 




.uciions: 

Funeral and adm 
Debts, mortgages 
Net losses during 
Support of depem 
Charitable, publii 
Property previou 

duction." 
Specific exemptio 


X! 
CO 










B 
3 




6 


Feder 

P 

State 
Allot 


H 03 

a 


Tot 

M ortgage; 

Insurance 

Tax-e 

N 
M iscellan 


hi 
"3 
. 


3 

§^ 

03 






















































©"ft 








Z 


5. 












3 






;z; 


•( 


>NI 


Bijag 


- 


(M 




CO -^ »0 CO 


t-00 


OSO ^IM MtJH 


s 


S^S 


2S53 


S 


S 


s 



STATISTICS OF INCOME 



89 







1 


rH 


ei 


CO ^ira to 


C^ 00 


a: O — 1 CMCO -* 




lO 


to r^ 00 oi o ^ <N 


CO 


*<*' 


•ON \v]^3S 1 








rt-H^rfMC^ M (M 


IN 






■« 


























a 










ill!' 
















03 1^ 


























§1 


























o o 


























o 








































i 










^ 


^ 


1 ' l-H^ 


iOt~ 


c^ <£;oo I oo»o 


IN 


r-C lO i 1 i 1 O 


to 


to 








CD 




lO 


CD GO --i 1 i-H CD 


Ol 


CO -^ 1 t 1 1 Tj* 












05 




-^ 


^u:) .CO 


to 


to 1 ; ■ 1 


t- 








do 
























DO 








IN 


c^'^- I 


lO 


in 1 1 I 1 


lO 








oo 
























o-^ 
























o 
























lO 














i i i i 1 




13 


^_, 


05 


1 r OOCO 


-^t-) 


lO C^ CD i-H CD O 


CO 


■^ Tt^ 1 1 to 1 O 


CO 


^ 










. ■^:>n 


COOl 


CSJ u:)<M(N r->. 




tor- 1 .CO . ■* 




to 








M 






■^ 00 


to 


IN ■* 1 . . 


M 




■a 




3o 








c<r 


c^* 


CO 


CO 1 1 i 


CO 


=• 


§ 




i-" 













































CO 


















"3 


















(h 




















o 




O 




















o 


■a 


"So 




















1 


3 

.s 










































O 
























< 




o 


cq" 


















! 


d 

> 


O 
1 




















'So 


CD 


(M 


COC0005 


tH 00 


(NO ' > t ^ 


lO 


CRto i ira — 1 1 o 


^ 


to 








CO ^ »o o 


05 CO 


CC^ 1 1 ' -^ 


IM 


<NCO .C^ ^ ■ ■* 


•<it^ 


t— 


M 




t^ 


.-1 mco 


i.o 


cq O i - ' lO 




cq o . CO > c^ 


"^ 


to 


© 




3S 








-H-C^" 




00 


r$ \ c-f ; 


CO 


^ 


tf 


03 


















■=■ 


=3 


"o 


o 














1 •! 






a> 


-2 

03 


""• 




































■O 


. 


M 


^H 


i^TT >ra c^ 


r^ Tf 


^ -^ ooot^ 


-^ 


rt to i 'to 1 o 


CO 


y-^ 


d 


C/3 


s 




00 




-^ r- 


(M lO (M 00 "* '^ 


•^ 


OI>- ' If- 1 00 




Oi 


3 


<U 


do 
3=i 




oo 


CO 05 -*■ c5 


O OJ 


O '-' '-« c<i 




■rji iro . 1 ^^ 1 Tti 


to 


^~i 




1 








^jc4^ 


^'-r 


t^ 


^- ; jo ; 


t-^ 




S 


o 


g 


















g 






























T 








a 






CO 


05 


CO o r^ o 


OC^ llM^"'^O'<:JH00 




CO 00 1 ^ ^ O O 






■s 






'^J^ 




C^ CDC<) CO 


T^ lO 


en 'rt* CD --H ic CO 


to 


^ to 1 (N to C^ '^ 


Ol 








T? 




I^ 


>o OOO 


^O 


-^ (M T-H b- '^ .-H 


c 


00^ 1 a^ 00 




■^ 




OS 




c6 


^ 


c4"io 


t^^^c^ .-r.-r 


*o 


^ 1 -^ ^^ 


oo" 


^ 






3S 














<N 1 




^^ 






o 


















^ 






o 
























TO 






















00 


«D 


lO OO 00 Oi 


o r^ 


t-- CO 00 lO CC 1— ' 


^ 


a^cyi 1 lo lo 1 o 


en 


00 






^3 


■^ 


IM 


CO 0-«< .-H 




CO CC CD -^ (M 00 




CO -rtn 1 .<*i lO 1 O 


00 










00 


lOlN to 


■*< c^ 


CD O 00-^ -^ lO 


■o 


CO CO 1 cq 1 o 


\a 


o 






do 




CO" 




r-TcO 


rjr,-r 


tiT 


|C 1 CO I c<f 


CO 


^ 






3g 


















o> 






o 
























o 
























<M 








I 










^ 


(N 


Ol 


1 ^ T« en 


■^ CO 


b- w OOOM CD 


•n 


^ tOC« 05 ^ 1 O 


S^ 


t- 








t^ 


O) 


1 CO o-^ 


00 ^ 


CI lO 00 O t^ CO 




CO to t- 00 ' Oi 


lO 


^ 






TJ 




CO 


.cqrHO 


GOCC 


(N CO h- Ci oo CD 


^ 


to 00 -^ 1 o 


•—1 


to 






CS 




^' 




CC 


^"^.-I" 


^ 


oo" in" 1 CO 


■o" 


e» 






^S 












r~* 












g 
































































, 




CO 


























IN 






















■c 


























^ 




_s 




















I 


v. 

C3 




d 
o 




















\>> 




■*:^ 


















t" 1 , 


3.0 




^ 


















m ' ; 


!^_ 




d 


















d ; 1 


CD d 














•§ d a5 ii-S 

a a si. o3-d^ 

d o >.^Kj 

S^l'^d^ 
c car" c3 tsi 


id ; i i is 

'.2 ,■11 

I "^ SS 1 . 1 t/3 

o o " ^ 




lil 

I il 






X 

o 

s 

ft 






1 




; d ^a i s 

Id c3 g 1 ; d 

tr "* CO ' 1 c3 

■6 ^ T3 to" ; " ^ 


2 


03 03 fc^ " -- > •- 

M3^ Co P 

d O ,^^ ^ ^ • >' 


_o 

- o 
3 

CD 


i 

o 








gfe K<^ U tf fclH So 
d ^ « S 


■^d |°2 >.g a^ •« 
d2c.-So.|fe--sc§ 3 


d 
dc5 













T" 








H O 


co^oto r^oo cso^oicoTj' u- 


cof-oooior-i ?? e: 


-«^ 




•o> 


i IBH^b 










^ ^ ^ t-l 


"^ 




I— 1 f-i •— 1 ^ 


H C 






iM 



CO CO CO >o ^^ 
lO »0 lO .to 

- • - a ■ 

aaa.a 



o o o o o 
op o o o 



o a> ID ffl o aj 
t/j CQ CO ai CQ H 



-&5 SS.'a 
O tB is ° 

a-rt's .- 

-o^dsa 

9 ° "CO 5; 



d ©-« >>S 
.<dt; 



.. 03 



° ° .s ■§ 

- >< J, 

© C3 OO 






t^ O p Ot-1 
o «— t- +-> 

— o g ca tjD 

-c ° -ij ® b 
_'S d a 5 
?,^ o §•« 
^aSpT5 

3 d -^ d o 

5g.9SE 
*^ d a >. 23 

<NO=;d Sc^" E: ii 
wt-'O " 03 >- 3 o 

• • d^ S:;^ d 
aa£— ' o ?r IK d 

- -c3 o tn £ ■" 2 
'"'^ ,„i;'-axa 

2 2 a3 ° o r 
5 a.ti 2 a= ^ 



o C oX^ 



.a .0 'o to . .« 

03 03 -iS CO to 

oj ©_c S -■! 
HI or^ 00 "o ^ 

_ =. „ co".^ 



90 



STATISTICS OF INCOME 



00 I 

s 



CO ^ 2 



>^ 


<» 


<3<^ 


is 


Oi 


^ 




Oi 




s- 


'W 


o 


K 




C 


o 




^; 


^-e 


c^> 


<ii 


03 


a 



5 ^ 









•«.; 



u « 



s 


«i 




►o 


■d 


s 




s 



Ejq' 





« 


< 


oi 


4. 


« 


» 




>A 




n 




< 




H 











,_4 


c^ 


M -"JOO O 


t-oo 


CB O -I CM CO -«< 


UO 


to t^ 00 OS O -^ CM 


CO 


s 




•ON I^F-'aS 












" 


_ -H -. — CMCMCM 


CM 






^ 


2 


•^ 


N t^^(M 


ION 


t^t-t^05 05tO 


CO 


OS-* ito— .too 


CM 


^ 










M 


1N<M lO -J< 


•<** CO 


t^ lO CO ^ ^ c^ 




t^ to 1 •* O QCM 
lO -* 1 CM UO ?5 t^ 


to 


to 






■a 


T-H 




(M -H t^ 


rt to 


t-« CO to C35 r^ Oi 


cs 


t- 


00 


m 




9S 




»c" 




rt-(N- 


co"--r<M"^" 


^- 


t^" \ cm" ■* 


>o" 








3^2 




















GO 




o 




















Oi 




o 












































S 


■* 


o 


(35 t^O5 00 


coc>> 


lOiO^ON 00 


OS 


OSiOtOCO uo 'o 


~ 


^ 


rt 






00 


c^ 


^H 00 COO 


>oo 


»o to N -^ 00 OS 




coos toco .to 




00 


CO 




^ 




r^ 




cqio 


t^tON « tO>0 


■* 


CO to »0 1 CO 


OS 


s 


2 




a 




w 




'•<" 


-H Nt-T 


to" 


co" 'co" 


t>-" 


--- 


"S 




3 
o 




















1 

< 




Oi 




















o 

02 


^ 


^ 


to as »o ^ 


CON 


to CO ^ r^ CO CO 


U5 


O — . CM iOOSOOO 


~ 


~ 




>o 




CO 00 


w r^ oooi 00 — < 




CO O ^ co^ ■«< 






>, 




(H 




M 


■^ 


to-* 


r-l T)< to t^ 00 -H 


OS 


to-* -H-* o 


to 


N 


£i 








co" 




cq 


co"-<"co"fq" rt" 


os" 


IC" r-T to 


co" 


cm" 


■o 




a 




















■a 


M 


3 
o 




















a 

a 


i 


00 




















§ 


C<l 


C^ 


CO ^ «:> 00 


_ ic 


toco >OCOIMO« 


•<*< 


t>- OS to OS OS ^H o 


C^l 


CM 


d 


•3 


00 


t- 


-HOOt^O 


00 -x> 


TjoOtOOS t^ O 




too ^ioCMOO 
to t>. ^ OS CM 


OS 






Im 






CO 


•>*.H 


to -^ to 00 r^ 00 


^ 


t^ 


CM 


s. 


2 

to 


a 




^ 




CO 


CO"rt"co"c-f 


o 


U5 tC 


-*" 


co" 


CO 


3 




















Ol 


a> 


o 




















•"• 


CO 


K 




















■a 


o 










































9 


bri 


g 


00 


cc 


lo— .coco 


coos 


OJ CC-* toos o 


CM 


CM I^ OOtOCMO 


■* 


00 


cS 


O 






!N >0 "OI^ 


oo 




uo 


-* OS lO O CM CM 


M" 


CM 


CD 


S3 


c<« 


CO 




OO) 


N CM Oi CO lO lO 


OS 


OS 00 ^ lO OS 


■^ 


■* 








to" 




.-H"'<*r 


■ncMco'co" rt" 


lo" 


io"S^ rt" -T 


o" 


t-^ 




a 












."• 


C^ *"• 


CM 




««-. 




3 




















o 




g 




















o 

< 
























S 


05 


-rt* 


t^ »0 05 00 


00 lO 


crj^OOTj-TfCO 


OS 


OS O 1— I CM T^ CO O 


OS 


o 






M 


c^iM -a<oo 




OCM Tf O^uo 




00 O CM -* to to 


t^ 




(O 




T3 


-^ 


O 


CO -H t^ 


OJ 05 


CM >o on- COO) 


to 




CM 


t— 


3 






o" 




-T^" 


to"co"co"cf c<r 


c>r 


rttC -h" oo" 


os" 


^ 

















CM 






.— . 




3 




















a> 




o 












































§ 


lO 


o» 


t^t^tOOl 


0(M 


— ICOOI^CO o 


to 


to 00 CM CO 00 ■* O 
OS 00 ^ to OS CM O 


~ 


to 










— 1 O^ Tj. 


02 — ■ 


o— .coo t~ -H 


■* 




to 






o 


00 


fH ^M" en 


00 00 


t^ O 00 CO -tj< 00 


00 


-I-* CMCM O 


CM 


o 




^ 


■^'" 


-T im" 


■"^-.-T 


to" CM c<f 


to" 


co"'o" cm" co" 


-*" 


io" 


T) 




3 




'^ 




"^ 


rt ^ 


-* 


■* 


lO 


CO 


a> 




3 




















a 

2 




§ 
























2 


^ 


uo oo »o --^ 


ooo 


t^05 »0 CM CO 00 


-.*. 


r^ »o CO OS »o ^ o 


co" 


^ 


3 










1^ (N COt~ 


■*-H 


■n OS oooo^ lo 


m 


00 OS CO O ^ 00 to 








13 


CO 


o 


r^ .-H t^ t^ 


-JiiO 


OS to to "<*< ^ "^ 


-* 


00-. -* ocot- 


to 


>o 






of 


h-" 


"oco-od 


00 co" 


rt"<3to"oo"oo"'J>" 


of 


o-*" — ."o ■*" 


^ 


o" 




o 




to 




— IIO 


r~coeM.-< 1-1 


OS 


«o "2 


lo 


-»< 






fH 
















CM 


















































CM 




















III 1! a 1 




CM 




















' ; ' ' '.2 1 




3 












































: i i 1 il i 




"a 




















o 1 




CM 




















1 1 1 1 ;'« 1 




s 




















i 1 1 1 lu ' 




_a) 




















W \\\z \ 




t2 




















MO). 




a 
























a 






















a 




















a ; 1 ■ oi (3 ; 
g. ; o ! t.-a , 

» ;2 ;g^3 




o 












m S S V £■ ■ 
TJ 3 ^ >.■ o I 

a j< «•= to 


1 


1 1 1 !cM 1 

^ ; ; ii i 
§2 ; :;! : 






o 

ta 
'3 












1 o- 
1 o 

; a 


« » 1 !^ 1 
ta g ' ; a ; 

en , tS 
^Sto^Sj 

goSg-aX, 

03 en - tK ^ a:* 




:l^-^i:"^a 

^ cti'i: p-3 > a 
a S^.- oTftJi 

S2„-SS|ss 

u3i:^^3-'-'>-a 


a 
o 


a 

1 








3 
3 


-r ® 


§1 

"3^ 


1 

o 
bjo 

o 


o 

3 

•a 

a) 


■2 

1 








1 
o 

a 

3 




a 




S5 § 


■a 
o 


a 
o 
a 

1-. 

o 








'Z, 


o 










a 




:! 












•ON 


Buag 


-^ 


« 


CO •*}< w:) to 


r^oo 


OSO-hC^cOtH 


«o 


SJ::22§cmS 


S3 


s 



STATISTICS OF INCOME 



91 






lO (N to 1-H CD O 
<N IOCS (N ^ 



CD -— • »0 O 



OOi 
CS iM* 



CC I— I CD »C 



■^ -f-H O Oi i-< C5 00 

(N CD r^ 1— I lO oo *o 
lO O *0 CD 05 CD rP 



<M 00 t^ lO <N O 

00 (M t^ 05 00 GO 
lO OI>- CC CC CO 



CD CO -^ 00 r^ i-H 
IX h- Tf r^ CD t^ 

Ol CS I>- 00 00 ''J^ 



M CS Tt< CM CO -^ a: (M 

t^ O t^ 05 CO Tfi X O 

CO O CO c^ o t^ 



CS CO T-H CS r-H ,-( 



1-H CS 

CD 00 



CD CD 

Tp to 

»ocs 



CO Oi CD I^ CO 

C<» 00 •<j^-**^ 

lOCO — I 



'-'^ 



Co 



7j S a; X 'o 

3— .^t-G^ — — ' 









is ® 



o o s-a 



i^E 



CO a 



n'O <4 



>^ o o a-o m 



„- >? £ <i> £ 



m-*! O 



^- ^ U- Crt fl >< r2 



S3 



a y' bt c— a 
■5 sic oj= .2 

3 2„-Sfe,5s--s 

•- a X2 *^ c. ca o^ 



a 3 



r ^- pocc CO lO 

a <pio IOII3 . 
-S g . . . o, 

cL a aca . 

^ f, ^ ^ <li Q^ 



jj a o o o o 2 

£i;£££S g 

•c . ^ ^ ^ «^ 

O a 0) O OJ CD C3 

j;3 t- Ca Cd 03 03 '7^ 

.H «■"■"""■"« m 
•^ ,„ OT CB CO CO R " 



0^ 0) 03 

►?!>>- 

• ■ 05 a 

*J o °^ 

o.a 
oa 



^a^.-g 

I C3 



>. a a; =u 

^.2« a 



: a a 



?•>> 



CO Tj< 4C O t^ 00 Oa O --* Ol CO ■<** «^ 



Ot^C3005O^-« C^ CO 



S rt -H r-1 rt — > rt^rtrtC^M 



n.t> ib '-5 "^ c8 •:; 

p^ .a a £ot 
c^ CO rt" Is g a co" 

XI .D J2 "o o • .*^ 

d IS as-^nx~ 

Oi QJ 03 r* ^ *"t^ 
Oi OJ 03 r" CM IM S? 

CO CO m r^ «= « ~ 

_ c „ » (N . 

€^€^ o 



186585—40- 



0"'> 



STATISTICS OF I3rC03JE 



tJXIWMS 






noc r« r*'^3C»; j: 



r«r: "c ;« r». e« 



s «s J icacNtr: 



SB C ce 



O It c<9 

1= ! 



■" 2 l«5"" = ^"=— f* 



] 1 



c T 



■i- 5 5^ 



1 -s 



S ~i — >« 



e = 5 i 

1 s = = 



c -c 



J I 






t 
I 



ac = s trr; xr;xrr' 



= z risCT — I « 



— X rts c 



r-^x r = I 



:r — r^ — r« r«- 






:xxr 3 X «c^rm — 



■ X j::x — = -i— = 






Z -i-^ S- 3:< 



STATISTICS OF I2sC03IE 



93 



ri c^ 


"' 


CI 1 

1 


; - 


"i° 


. g 




« 


1 


"^ I" 


i § 


§ 2 


; g i = 
' 1 


i 


. 1 § 


s 


, ^ §:.= 


1 


; - "|| 1 

1 


|i 


i 1 


. i 

; 




I 

1 

1| 


T. 


= X 



- " c c ^ 



xxx^: — — 






Miff- 



?<:-:— S:uCx2:.r 






9^-i^~ — — 



94 



STATISTICS OF INCOME 






H ?. 






Cs CO 

'to I 










a. 

CO 




CO 






^ 
^ 




"o^ 




J^ 

^ 




CO 


1 


!^ 


S* 








c;^^ 


c- 


1 


s 


s: 



^^S « 



e'^ Pi. 
H S S 



^:^ 



W'« 



I'tf.s: 











.^ 


C-) 


cc M* "■ 


CO r^ 00 


o o ^ 


C-1 CO ■.** 


lO 


CO t^ 00 o> 






■ON l«P9S 












"" 








U W3 






























> 


ii^ 


2 ^"^ 
























; 










^ 


CO 


^ 


ir 


COCO 


c) lo CO >n ^ (Ni 


CO 


■^ (M r^ r^ 












C-J 






<M >0 


00 CO cq coco en 


C-1 


COM- 










o 




cc ^ —1 


o 


-^ CO 






Ui 


CO 


00 


l,-i.-ipc 1 >n o 


»o CN C3: --^ t^ CO 


Oi 


QO t^ ' ' 








g-og 




^1* 


1 ft CO C^ 1 CO t^ 


CO CD CO »0 ,-H 00 




CD 00 ■ 1 










•* 




•—1 


(M <N 


o 


t^ . 1 








m Om 






















3 
















Lh 


^ 


CO 












— I-O -H 


t^ 


coco 1 ! 








ill 




(M 












,_,00'J' Tt<,_^ 


CC' 


t^ 1 I 








3 










1 












t-. 


^ 


1 








o 


o t- 






CO 


Oi 


-■CO 1 1 








Sli 












(M 


C-) -H 






CO 




C^ (M II 




























^^ 










































3 


























^ 


»o 


cn 


1 ''COC 


,-11^ 


Oit^'-i 'i'l^O 


uo 


CO »0 1 CO 








^-. o ^^ 




CO 


< 1 t 


•^ t^ 


^ -rf CO r^ »c t^ 




CO O 1 


1 






S-og 












CD 


oo 1 


t-< 






-H 3W 






















3 
















■a 


IM 


CH 


















□ 




















D 


a 

03 


i 


tri 


-^ 


»o 








-•CO o 


03 t^ 


»o 


<M O — 1 CO 


T3 
— 


o 


8|§ 




(N 




S- ^S 


s 




TJ. 


CO CO 
CO 


a 


CO 


a 


















































u. 


,-1 


















IM 


en 


OJCO 1 1 


3 


Oi 


o 


3 




CD 








CO 


CO 








en 






o 


o 




























o 


O 
















































< 




^ 












oo 


00 00 CO 


CO—' 


CO 


>oco 1 ! 






S 




00 








■^ 


■^ »-< 










^ 




o-co 




















M i 1 




3 




cc c^ 
























a 




3 
























» 
















































05 






lO 


CO 




00 


ccro 


1^ Tf »C IQ 




b- 






« 




3 




(N 


i i 




l^c 






CO 


(N CD 1 1 


w 


■^ 


^ 




(N 


\cy : 


(M cc t^ t^ IC 


•;; 00 Ol ! i 




















00 


^ 












o-oo 
















C^l 










^ c '^ 










1 ; 
















3 










1 ; 










i-. 


00 


Tf< 


IcD C-l 


oot- 


>o c-i c-1 cq 


CO 


m 


CO cn CJ5 00 








o 








ut 




CD 




"rf 00 








t=-ao 














-^ 










U^ QIC 






' sZ^ 


















3 






















>o 


.ra 


1 1^- ro lo 


>oco 


C-1 O C3; (M t^ 1^ 


o 


CJt^— l-S> 










CO 




1 -H cc 00 




00-^ — l^rP — 




lo r^ ^ ^ 








ca 




cr. 




-J t^ 


00 -^ CO '-H ^ IC 


en 


IM cn 






























o 












co' 


cm" 








H 










































i l\\\ 




























! r; 1 ! ! 














^ w I i 




' a 






S' ; 


i ^ iS ; 














OT3 ' 'i2 


!.2 
























1 O 


^ 1 
§2 




1 


i ! ;l i 

1 '^ Im I 
















m " 




C '■■ 


i ^ ']§ ! 










a 

3 

1 
o 

a^ 

S 
3 




Investments in bonds i 

Federal Governme 

Wholly tax-exe 

Partially tax-e: 

State and municip 

All other bonds... 


§2 
'3'3 


T3J= 

ce § 

— tut 


i 


3 ' 

2 ; 

3 1 

%2 


Total gross estate... 

luctions: 

Funeral and administi 
Debts, mortgages, etc. 
Net losses durin? adm 
Support of dependents 










'it 

ca » 




Tot 

Mortgage: 

Insurance 

Tax-e 

N 

Miscellan 










o 








a 










^ 


s 








Q 












CI 


CO-3- lO CO 


t^ 00 


Oi ^ — ' cq c^ ^ 


>0 CD f-OO 0> 






■0 


N I'n-ios 
















^ ^ 


^ 


*"* 


'^ 


'^ 





STATISTICS OF INCOME 



95 



§5^ 


(M 




s 


gS 




rf 


en 






00 


c^-* 


C^ 


t^ 


^ 




^" 


(N" 




^ ; 


o 


tc 


t^ 








(M 


(M 1 




(N 






o 


a> 


M 




■o 


c^ 






o 


•^ 


lO 




•o 


2 


<M 


rt 1 


o 


Cl 


t^ 






Oi 






(M 


o 


C^ 






'"' 


- 


^ 1 


o 


t^ 


00 




g 


g 


■o 




o 


(M 


t^ 




lO 


■^ 


M 




o 


^ 


(M 




.o 


00 








CO 




■* • 


o 


1d~ 


^ 


CC « 


>o 


t^ 


>o 




C-1 


^ 






(_, 


r^ 


■o 






o 








•<** 






o 


« 


C-1 




o 


>o 


o> 




"l- 




CJ 


















r- 1 


o 


)r^ 


m 




lO 


«D 


a 


ci ' 


r^ 


<N 






^' 


lO 










n 








(M 


'.TS 








1 ® 






i 


w (2 






a 


t^ =^ 






o 


^ o 








§>> 












a 


CT'O 






E 


5.S 










S 


ss:§ 






O 


11 






s 












s? 


X 






a 


O C3 








*^ 






Q> 




a 




1 


;= 3 


o 


Xi 


^ o 
3 > 


■-S 


1 


oTP. 




3 

T3 


S >. 


2 o 
«2 


•§ 


1n 


-2-C 


"3 


a . 


•- Oj 






It 


3§ 
~ a. 


o 


OfiH 


CO 




03 
■£0. 


O --1 


fj 


CC 


Tf 


C<1 (M 




(M 


C^ 



CO g 

Mcoco .-^ 

p-ad.o''a 






<p 


ni 


ii- 




axJ 
2- 


1 














t;^ 




>. 


T! 


cC 





d 




C 


L. 


ta 


is 






:; 




rtlC^I 












>> 








ft 










etc 


to 






Zj 


•^ 


n^ 


a 








>> 


^ 






0) 

> 





CO 


>. 


a^o 






V-H 


a 


P 


a 








f= 


a 


j:: 




L- 




k 


, 















T) 


CT> 


>>o 





^ 


a 


crt 












•^ 


« 


a 


01 


3 


a 
S 


c; 


a 




Q^ 




aa-o 





ca 


•T3 



-aa-^'oa.-sS 

o££oo.d_&s;;; 

^ <p 0^^^^ §'2 -, "' 

atooja^Cir-ccocj 



96 



STATISTICS OF INCOME 






«i s- 



e S 5. 



.^J^ 



s 


** 


— 


ac 


t; 






5i 


i 


3 


3 


^ 




=e 




!~ 




H 


•^ 


S 


-2 


s- 


^ 


"^ 










!~ 


























s 








ff 


^ 






^ 


^ 


8 


5 


=0 









%: a s 



^ Js ^ 



e.- 



a'^ — 3 



^ I I 



.r^ 


«i « 


^ 


^^ 


.a 


-^> 


5i On 






P 


^ *"^ 












«-e 






s 


S V 


~< 


o-S 






e 


^ ?£ 






^ 


|| 


"2 


H 


■^ •■ 




^3 


_ 


>^ 


e 


V ^ 










^ 


"^ "^^ 


^ 


% 


!^ 








H 


** "** 


e 






ac ^ 












v. 2* 


c 




,=e 


"^ 1. 













— . ?^ « 


■fl-ticsi^xcio — ^^^^'rc^u^^-x^c — NM->ro 








•ox IBiias > 










I 


t~-<?c^t^->ri::xr^cs>=r5 — cx« = acoorc-<rcsot^o 








^ 1 


■«■ o t-i t~ c: i~- 1^ M ^ 13 ■«< X r^ = T- o •«• o o: 30 t^ 










X -w c^— o> "-1 «t^ic^ o 






u 


" 






■<! 


o 


















§ 
















J. «" 


t-c<sx«'^c<i o^Mrr^t^'SOCiMccx-"? — rct^x 










OOrt OCiOS:^— C^O — X = X :M-«-— - =>'=-^lN3J 






o 


E 


c - 5 








3 
a: 

•5 

i 


s 

u 






si 




NO ^oo 1 1 \ [oro i 1 ;» l2 '^ 






c^ 




m X 








O 






^ — 








N 


X 










CS 


<a 










c 


i 






It' 1 


g55 


■ct ^MOt^'^x-<!-x>s->??Jt~c:o^cMx — jcr-ss-a-o 






« — — --xr~.C5rcC!«os; t-«xoMXW-i — ^fSret-; 




I 

"3 


j:^— 


N OMrc-sTtx-< -^r^.-c — ia-^c^i-i=~=s"x 






§|1 


■«"" N — ■" T!-" -cr-r (N 




OQ 










= - 


>05SX— 'Xt^NMt^O — 1^1-- — OS!MC;t~MC=CMX— IMOO 










«3XXt-=:x>=rtXt^>3«i=.-c>.-:c<i=3 = e=xx^oS — 








■1 =s^ 


rtictai5«=->r-e'X:sce-«'N!Ct~oa«co = R.SS — X 








= ^2 = 


t'. ■>;' N— c — . ?3t^t~— rt 


3 














z *i 




£ 
















c 






^ y 


oj;2xr;r^:rc:'--;f r^rJML::r: = >--C!sr.— ■<r^^r^■^o 










■^ — -Tt :rr^'^ — ^•c-^'«rr^-<rr^rcrt;r — — 


!5 






~ !_ ^ 






















>< 


















S3 
















2 ^ 














< 














X X 


^S'XCt'^t^^;rr^r^:c:r — — ■»rL^r^:r:c:C'^r^r^'iS"r: — 








S^'^^SSS'-" ;;'^''"'^2*^'^i5~S=SS'^* 




















— - x"— "cT— "^"-r— ■" ^-^_■■^^ •i^_r,™",-*;s ^■■-:* — ■ 

^ — — — _ c^ - = 










1 






r- a 








=i 


r~t;— -rTrxtlt-^C — ■^ = i--=:u:x=xt^=;OM— M— • 










or r t;t^NTr:c = =: — -s-x-^t-.-rrl^-^OTrXSJ 








c: 


— — :^^^ — — = >^xr:=:ic — >::=:x^^x>crcxMr^s;o 


















5 


X rt =: c: 3: M r~ tt x >^ X c« — >= re <N M c: 








o 


— :r — M ^^ =: — -• — —cooxN •«■ 








^_, 










o 










•z: 










— f^-._-c.^_-,>-^__.^^- M=:-Tr-^-rei^ 




















■>rr^t^ = :=«::r:r:Trr:eTr.-; = xc;;i:cx;=xxc=Hr^ 








■T, W 










C d 


=■ r^ rs « — ■■ cTre" :d" — " r-' r^' — " — ■■ =r =: t-^ c -ir cT — ■■ « cT TT ic 








t.^^ 


— OCMO — •«■:;— :r rt r< — ■ N — 1 r- >c t~ — . M ^ 








eg 


«=- IN — — — — 








t. 


Toc^ — o = s:xc<:>=rixx>= = >ci^>ci5C^i=«(^r:s 










cs?lr;r^ — —■■«■:=:; ^ — -^r^l^s: — r~>= — x-«-:= 








1=1 


?! — •.? — M— X M OJ — N X rc — N 












































z £ 








u, 


, 


r^::; — *3i--:^r; — ^rC'^:^r^s»3'<rtct^-^rc — csr^r^cs 








sr ^ 


— — ;= r: t= n •>r c^ X ■«■ x ir ■«< r« ^ ■<- i= — r* — -«• 








54 E 


























3 


- — ^ 








z 


= '- 








k 




— tiraooc;— siMX;C'<!-i=>=-<'C:r^M — c;:crjTr:CX 










— ^^■^XlC^^■^Si»^~; — c^c:tcrc — — r^rt — — *-" — c; — 






^•£ 


^ n 


— -^ — -^ — N — • c^ r: c^ N — — rt r: cs rs 






,c t 


— ^ 






-^ — — « 



I • I i I I 1^ ■ • I • I i 

: ! S ! ! '■ |S ' I : ! ! : 

i : : : I '. • H 

(3 i-5 -^ £ - ! ; I i ' • 

c £ X ^ 3 J. i-e s_s— ^s 



; ■ ! ' " a> I ■_■ ! 



I <<< 






ssss 



^x i^;-!^5 



^- — — -^^-M — — — — c^Nr^c**r^rj 



STATISTICS OF INCOME 



97 






Xr r^ iciS ^airccs:^^ ■'T o c^ CO -^ c^ oo w 



cs-^ '— c^ 



.1— 'QCiC'^^r^r^3C30X»C»O»CCSQ0O0005^; 

3 cs « CO ■<*" o r^ TT -^ 00 CI oc N re *c cs"^ : 



^ I oH i-l I lO 



! . 1 ij. I . i 


CO 1 



S^ rj* TT iO O »CCC'^OC^^ CC O C CO — C5 C^ CO O 
CN» »0 Tf C* OC ^ ^- O CO t^O^ Tj- CC ^ -^ ^^ 



— «t^ — 00 — -j-xCrtt^tMO — s^jociifjog — c;t--c250 

IOCS — cc-^ — •^C5rcc^t>.x^o»ccC'— rccsccoxr^-^t^ 

cd" c^— ' t^co" »c"cc CO or^c^ o*:o c^"— "— *C5 -^c^^^ 



lOt^c^ — occ^tCrfw^j-ccot^cc^ctccat^cot^ — ccg»o 
CO coco oco o c<i e^ «; !0 <N CO — — — o •* es 00 



as 

do. 



c^^.oco-:^c»:xt~r^ox^)X•^^^xx.= =:x-^ =!.= ?»— rj I "— — Sc; 
— CO <ct^ -a--* cxx^oo t^oi.-;Mr::=x-— Tj. •,£ ^-^-~ ^ 



^^ ^H O — ■.J' 



« CJ 



3oc>--xoq-j3 — t^t- — xcoi: s;^ SS~:rS~?~2S 
porccso»oco:2t^x-^-«' — c^t^ c; o — c-j ~ -C t^ o C5 !N 

.To »CTr oo cr:c*o x~co tt"— 'Tj''"u-'"-^c^"t>r:o~t-- cTci 



CO- cs I 5 s a s 



— t>. 



00 — c^~^^3i^:^^c:iX — c^O'^^-'^fC'^rt — i-"t^ooC5— ' 
•^CM«3- — r»c='»x — X — Tj't~c<:t~X'C~r<-^t^r~r;'rS3 

co'>s'^03ii3"t~-«TCX'w-3" — ox — :"lr:=i=:'-■:r^xx — 
co"o CO 00 — t^r-^— ^*'— *"— "^o 3C rfro'i^^c'i^^cf — "r; CO* 
— r^ 



C-t — n >-■;— "'■-'"i;" 



e^ ic 



ri c^ — CO 



■.^i^iCOt^X-^OC^-^OC^COt^C^CCC^I 
CO C^ X r^ — C3 O — ox X *C TT :C cs c^ • 



. Ca — t^ OS — O CO 
■ c^ i:r X — r* X — 



^ocotoooc«t^ooooo>o^t^xos'ox«aeocosi>0'«<c0ei5 
e* CJ-H r~co ioeot-i>Ort woo M-* — •* 







o S g 

mo'' 
"" S S 



M N N CO CO CO CO 



98 



STATISTICS OF INCOME 



Table 6. — Estate-tax returns,^ taxable and nontaxable: value of real 

[Thousands 

[Returns filed during 





State in which return is filed 
(domicile of decedent at 
time of death) 


Situs of real estate 




Total 


Alabama 


Alaska 


Arizona 


Arkansas 


California 


Colorado 


1 


Alabama 

Alaska _..... 


4,834 

15 

602 

1,469 

54, 195 

3,436 

12, 230 
1,406 
9,890 

10, 188 

3,106 

402 

521 

37, 318 
7,400 

11.995 
7.445 
5,504 
3,154 
2,345 
8,900 

15, 116 

13, 946 
4,805 
1,714 
7,805 

989 
6,083 

158 

1.447 

18, 641 

544 
73, 235 
5,437 

635 
26, 322 
4,078 
3,834 
35, 033 
4,955 
2,733 

730 
4,553 
21, 536 

885 
1,164 
6.669 
4,395 
2,821 
7,463 

303 


4,479 






1 






9 


15 








s 




542 




1 
9 
48, 152 
23 
44 
10 
8 
12 




4 








1,314 
38 

2 




5 




4 


87 


85 
24 


55 
2,891 

43" 


6 




7 








8 










9 


District of Columbia 


24 
175 

7 




3 

8 




in 


Florida 


3 


11 




1? 










2 

5 

671 

78 

89 

9 




13 














14 




8 




11 


264 


36 


15 




Ifi 












6 
38 


17 










5 
2 
5 


18 


Kentucky 

Louisiana - 


2 




2 


19 






?n 












21 


Maryland •_ 

Massachusetts 

Michigan 

Minnesota 










25 

81 
60 
81 




'?.'?, 








1 

4 




23 


(') 
(') 






1 
1 


24 






W 






69 
29 


26 


Missouri 

Montana 






(3) 


75 

1 
22 
(') 

42 
(?) 
72 


10 

1 

20 

10 


?7 






?8 








.(3) 


29 










30 


New Hampshire- - _ ._- . 










31 












6 
3 
11 


32 












33 


New York 


60 
10 




13 


25 


34 


North Carolina 


3.5 


North Dakota 






7 
95 


_- 


36 
37 


Ohio 


2 
2 




11 


5 

1 


38 


Oregon 






73 
125 




39 


Pennsylvania 


m 






2 


6 


40 








41 


South Carolina.- . . . _ 










4 
18 
22 
61 

3 




42 


South Dakota 










... 


43 


Tennessee - 


14 
21 






74 
56 


44 


Tpxas 




3 


45 


Utah 


46 


Vermont 












47 


Virginia 


4 








4 
45 




48 


Washington 










49 












1 


50 


Wisconsin . . 






9 


(3) 


216 


51 


Wyoming . . 








Total 
















464, 383 


4,813 


102 


709 


1,900 


50, 242 


3,158 







For footnotes, see p. 104. 



STATISTICS OF INCOME 



99 



estate ^ bij State in which return is filed and by situs of real estate 

of dollars] 

calendar year 1938] 









Situs of real estate- 


Continued 








Connecti- 
cut 


Delaware 


District of 
Columbia 


Florida 


Georgia 


Hawaii 


Idaho 


Illinois 


Indiana 


Iowa 








54 


5 






54 






















































38 

805 

19 

1 


"'""508" 
66" 


26 

360 

29 


7 




4 


1 

1 

292 

6 

64 

7,188 

9 




74 


2 






10, 694 






8 




7 


1,240 






8,351 
59 


18 

97 

2,944 






30 

413 

1 


6 
21 




2 


3 






485 












387 


















456 
39 








40 




33 


251 

172 

5 

10 
16 

87 

51 

85 

280 

1 

1 

58 


17 




31, 753 

43 

32 

40 

4 


536 

6,813 

1 

24 

25 


990 

43 

11,013 

32 














1 


















199 
1 






















9 
366 






2 
158 
150 
75 

7 
















3 




43 
2 














408 
10 


O 






3 


2 

48 






























65 
22 
31 


7 


40 




















m 






6 


7 


164 


1 
12 
95 














8 
183 










,. 


2 
33 




24 


2 






47 


27 








819 




30 


876 
29 
50 

331 


78 
93 




1 


182 


28 


23 
























29 








3 
14 

4 
2 


38 














8 














7 
1 


21 
22 


32 


146 
9 


1,043 
391 


10 




6 


1 




2 




























2 








8 


11 
2 






40 
96 


37 






37 














2 

1 






8 






11 
19 








4 






9 


22 




180 










126 






15 




1 


4 
3 




















240 




6 


































11, 781 


1,275 


9,525 


11, 584 


3,509 


461 


649 


34, 553 


8,160 


13, 307 



10 

11 

12 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
26 
27 
28 
29 
30 
31 
32 
33 
34 
35 
36 
37 
38 
39 
40 
41 
42 
43 
44 
^ 
46 
47 
48 
49 
50 
51 



100 



STATISTICS OF INCOME 



Table 6. — Estate-tax returns,^ taxable and nontaxable: value of real estate"^ 

[Thousands 





State in which return is filed 
(domicile of decedent at time of 
death) 


Situs of real estate— Continued 




Kansas 


Ken- 
tucky 


Louisi- 
ana 


Maine 


Mary- 
land 


Massa- 
chusetts 


Michigan 


1 






1 


44 










2 














3 


















4 


















1 




95 

77 
9 


6 


(3) 


1 


9 


52 


200 


6 




7 




1 




34 
6 
5 
4 


82" 
226 

5 


26 




% 






q 


District of Columbia 






2 


69 
99 


1 
19 


10 


Florida - - --- - - --- -- 




4 
3 


11 






1'' 












13 




IS 
















I'l 




112 


13 
69 


127 


70 
1 
5 


-- 


4 

40 
5 


318 

41 

26 

1 

(2) 


Ti 




Ifi 




30 
6,715 


17 








18 


Kentucky 


5,102 


(3) 
2,705 








IP 




1 








?0 




1,996 

1 
86 
4 


""7^926' 

57 


39 

32 

14, 086 
U 




'>^ 










00 










3 

12, 555 
3 


0-^ 










04 




2 




1 

12 
51 


75 










■Jfi 




135 




9 


U 




31 


?7 






•JS 


Nebraska 


143 














9q 














3 


30 


New Hampshire ._ -. 








70 
56 
67 
193 


"""'135' 


56 
142 


?1 




8 
(3) 
2 






50 


3? 


New Mexico --. .. 






33 


New York .. . . . . . 


(') 


83 


9 

8 


399 


69 


34 


North Carolina 


35 


North Dakota 














36 


Ohio . - .-- 


i 

66 


102 
2 


2 


42 




32 


83 


37 


Oklahoma - . 


38 


Oregon .. . . 












3<) 




36 
2 


49 




65 
10 


53 


277 
140 


139 
2 


40 


Rhode Island 


41 


South Carolina . - 






4'' 


















43 


Tennessee ... . . 




33 


12 
68 








8 
13 


44 




3 








45 


Utah 






11 
50 
44 


46 


Vermont .... 














47 


Virginia . ... 




20 






26 


48 


Washington 










49 


West Virginia 


18 






(3) 








50 












49 


51 


Wyoming 
















Total 


















7,456 


5,405 


3,107 


2,725 


8,546 


15,627 


13, 612 







For footnotes, see p. 104. 



STATISTICS OF INCOME 



101 



by State in which return is filed and by situs of real estate — Continued 
of dollars] 



Situs of real estate— Continued 




Minne- 
sota 


Missis- 
sippi 


Mis- 
souri 


Mon- 
tana 


Ne- 
braska 


Nevada 


New 

Hamp- 
shire 


New 
Jersey 


New 
Mexico 


New 
Yorli 


North 
Carolina 






66 




















1 




















?, 


1 






6 










(') 






a 




5 
223 

1 














4 


294 
4 




211 

47 

6 


206 
66 
226 


38 


20 


66 


6 
16 
2 


108 
87 

732 
15 
37 

643 
88 




5 


8 
5 


6 




12 


11 


7 








8 


10 
34 

1 












23 
4 


11 

25 

2 


36' 


10 
73 
17 


9 


• 8 


53 




27 




10 
11 














1? 










16 
80 














13 


699 

1 

57 

1 


21 


153 


16 
9 
12 






25 


1 


12 
15 


__ 


14 






15 




78 

302 

22 

2 

28 


60 
10 










16 








5 




17 










1 


18 




54 














3 
62 
71 
12 


19 








13 


25 
16 

1 
8 




12 
11 
3 
4 


20 


1 






29 




21 




3 




(3) 


210 


22 


2 

4,573 
--- 

(3) 
1 


(3) 




3 
2 


23 




3 






24 


1,484 


2 

6,972 










80 




25 


1 

943 

13 


23 












26 














27 






6,599 














28 






144 








1 

42 

4,102 




29 


1 






(') 




1,214 
47 






2 


30 


30 


29 


14 




12, 822 


"'454" 


31 




32 


(3) 

-- 

4 
36 


6 
6 


21 




1 




62 


696 


67, 895 


13 
4,962 


33 

34 




1 

(3) 

10 














3,S 


1 


-- 


35 
21 




24 


13 


1 


185 




36 




37 














3S 




2 

1 


(3) 


8 


5 


31 
95 


590 




252 

440 

15 


6 

17 


39 






40 






1 










41 


8 

i 


90 
2 


0) 












4? 














2 


(3) 


43 


37 




3 






9 


121 


44 








45 


8 






3 






41 








19 
53 


46 


2 








21 
7 




30 

5 
(3) 
14 
8 


47 


6 


23 
26 
19 








48 










49 


183 




13 


6 












.50 












51 
























6,050 


1,768 


7,952 


1,350 


6,437 


187 


1,798 


14, 348 


640 


74, 955 


5,223 





102 STATISTICS OF INCOME 

Table 6. — Estate-tax returns,'^ taxable and nontaxable: value of real estate^ 

[Thousands 





State in which return is filed 
(domicile of decedent at time of 
death) 


Situs of real estate— Continued 




North 
Dakota 


Ohio 


Okla- 
homa 


Oregon 


Pennsyl- 
vania 


Rhode 
Island 


South 
Caro- 
lina 


1 
















8 


9 
















3 






50 












4 






23 
103 

0) 
« 
0) 
(') 
312 










■i 


California . . ---. 


75 
2 


242 


241 


700 




1 


fi 




7 


Connecticut -- 






15 
23 
40 
17 


20 




s 








q 


District nf Cnlnmhia 




220 
90 






in 


Florida - 




14 


34' 


11 






1? 
















IS 










(') 








14 




40 


39 
6 

1 


68 

1 

127 
16 


13 






Ti 








Ifi 




15 


(3) 








17 




(') 






18 






6 






1Q 














?n 






72 
6 
4 

49 

1 






57 
68 
64 
5 
19 






?1 




1 
24 

30 










?? 


Massachusetts.- .--. 


9 


2' 

(') 


41 
20 


15 


?? 


Michigan .. . 


?4 




?"; 








?fi 


Missouri 




32 


31 


2 




22 




?7 


Montana 






?8 








4 








?q 
















SO 












29 
622 

4 
164 

4 






31 


New Jersey 




3 


3 


2 




13 


3? 






3S 


New York .. - 


2 


745 


9 
95 


1 


204 


104 
2 


34 


North Carolina _ ..- . 


3f; 




572 




3fi 




24, 665 


17 
3,753 
8 
9 
4 


5" 
3,127 


71 


12 


50 


37 


Oklahoma 




38 


Oregon 












3q 


Pennsylvania 




178 
44 


31, 589 
36 

8 


55 
3,638 


58 
"'2,' 686' 


40 


Rhode Island--- - 


(') 


41 


South Carolina 


4'' 


South Dakota 










43 


Tennessee 
















44 


Texas -. . 






134 










45 


Utah 














4fi 


Vermont 
















47 


Virginia- . .- -- .. 




185 
5 

'I 






5 
34 

70 






48 






— (V)— 


210 

""m 






49 


West Virginia 








50 




11 






51 


Wyoming 










Total - 


















772 


26, 663 


4,728 


3,778 


33, 655 


4. 026 


2,971 







For footnotes, see p. 104. 



STATISTICS OF INCOME 



103 



by State in which return is filed and by situs of real estate — Continued 

of dollars] 



Situs of real estate — Continued 




South 
Dakota 


Tennes- 
see 


Texas 


Utah 


Ver- 
mont 


Vir- 
ginia 


Wash- 
ington 


West 
Vir- 
ginia 


Wis- 
consin 


Wyo- 
ming 


United 
States 
posses- 
sions 
(other 
than 
Alaska 

and 
Hawaii) 






49 


7 


















1 




















? 






1 

50 

399 

2 

1 








2 










a 


5 
21 






















13 


« 




327 
2 




306 










1 












6 








* 




25 


















28 
28 






58 
20 


524 

1 


103 

1 


8" 


6 
29 












(3) 


5 
























43 
17 

(3) 
6 
2 

1 


































10 

1 

144 

1 


12 


144 

4 

8 

39 

10 

376 


(2) 


26 


25 
4 




357 
6 

82 


3 
























25 






1 






59 
5 




1 


1 


4 






















2 

__ 
















5 
3 




5 
2 

153 
5 
4 

135 


4 


44 


— (V)— 
31 
13 


3 
6 


5 

si' 
5 








1 




?' 




T 


2 








fA 


23 












?' 


4 












2 

1 


40 




?f 












20 




r 


17 




6 










12 




?f 
















fC 










1 














3f 






50 
16 
28 
51 




3 






9 






31 


















3? 




1 
3 


67 


37 


50 


72 


2 


48 






3? 








34 




















Sfi 


O 


1 


24 
117 

m 

40 




24 


20 


14 


37 








36 








37 


36 

1 


2' 








480 
40 


51' 


63 

7 






38 




27 


5 


3 




39 




40 












(') 












41 


668 




















4? 


3,675 
17 


43 

20, 808 






10 

1 












43 












12 






44 




869 












4") 








1,000 
5 














46 




25 


23 




5,865 


6 
3,817 
0) 
2 


27 
"2,567" 


2 
1 

77 
6,385 






47 








48 


0) 
19 


3 








21 






49 


42 










.50 




(3) 






295 




51 






















961 


3,929 


22, 591 


978 


1.213 


6,577 


4.977 


2.723 


7,487 


360 











For footnotes, see p. 104. 



104 



STATISTICS OF INCOME 



Table 0. — Estate-tax returns,^ taxable and nontaxable: value of real estate^ by State 
in which return is filed and by situs of real estate — Continued 

[Thousands of dollars] 



Slate in which rcltini is hlod 
(doiiiicilo of decedent at 
time of death) 


Silus of real estate— 
Continued 


State in whicli return is filed 
(domicile of decedent at 
time of death) 


Situs of real estate- 
Continued 


Foreign 
countries 


Situs not 
reported 


Foreign 
countries 


Situs not 
reported 






68 


Nebraska 




39 






Nevada 












Now Hampshire 




10 








New Jersey 




41 






50 
135 
10 


Now Mexico 










New York ._ 


2 


55 




(3) 


North Carolina 


150 




North Dakota 






District of Columbia 




16 

117 


Ohio 




343 






Oklahoma 




77 




m 






(3) 






Pennsylvania- _. 




58 








Rhode Island 




122 




« 


205 
55 

302 

5S 

31 

4 


South farolina - - 








Soutli Dakota 




33 




7 


Ten nessee 




476 




Te.\as_. 




19 






Utah 




(3) 






Vermon t 




19 






Virjiinia . . 




93 






87 
74 
135 


Washington 


5 


1 






West Virginia 


(') 




16 






56 




Wvouiing . . 










40 
10 


Total 










30 


3,049 


MontDua - 

















1 See table 1, footnote 1, p. 52. 

* Includes amounts rei^orted as real estate (schedule A), Form 700, revised September, 193r., and also real 
estate reported as (1) jointly owiied property (schedule K), (2) transfers made in eonteniiilation of or intended 
to take elTect at or after death (schedule (!), (3) passini; under a i;eneral power of appointment exercised by 
will or deed in contemplation of death (schedule ii). and (4) property from an estate taxed within 5 years 
(schedule I). This corresiwnds to the total value of real estate, tabulated in table 1. 

3 Less than $500. 



STATISTICS OF INCOME 



105 



Table 7. — Estate tax returns of resident and nonresident decedents filed Sept. 9, 
1916 through Dec. 31, 1938, historical summary: number of returns, gross and 
net taxable estate and tax ' 

[Money figures in thousands of dollars! 





Ret'irns filed 


Gross estate 


Filins period 


Total 


Resident 
decedents 2 


Nonresi- 
dent dece- 
dents 3 


Total 


Resident 
decedents 2 


Nonresi- 
dent dece- 
dents 3 


Sept. 9, 1916-Jan. 15, 1922 

Jan. 15-Dec. 31, 1922 

Jan. l-Dec.31: 

1923 


45, 126 
13,876 

15,119 
14,513 
16.019 
14, 567 
10. 700 
10, 236 
10, 343 
10, 382 
9,889 
8,507 
10,275 
11,853 
12, 724 
13.321 
17,032 
17, 642 


42, 230 
12,563 

13, 963 
13,011 
14,013 
13, 142 
9, 353 
8. 079 
. 8. 582 
8,798 
8.333 
7, 113 
8,727 
10, 353 
11,110 
11,605 
15. 037 
15. 932 


2.896 
1,313 

1,156 
1,502 
2,006 
1,425 
1,347 
2,157 
1,761 
1.584 
1, 536 
1,394 
1,548 
1,500 
1,614 
1.716 
1,995 
1,710 


8, 893, 239 
3,014,073 

2, 804. 327 

2, 566, 522 
3,001,089 
3, 407, 923 
3, 173, 235 

3, 554, 270 
3, 893, 246 
4.165,623 

4, 075, 575 
2, 830, 388 
2, 060, 956 
2, 267, 285 
2, 459, 892 
2,312.421 
2, 793, 758 
3, 069, 625 


8, 785, 642 
2, 955, 959 

2, 774, 741 

2, 540, 922 
2. 9.58, 304 

3, 386, 267 
3, 146, 290 

3, 503, 239 
3,843,514 

4, 108, 517 
4, 042, 381 
2, 79.\ 818 
2,026,931 
2, 244, 107 
2, 435, 282 
2, 296. 257 

2. 767. 739 

3, 046, 977 


107, .597 
58, 113 

29. 587 


1924 


25, 600 


1925 


42, 725 


1926 ..-■ 


21,656 


1927 


26, 945 


1928 


51, 032 


1929 


49,732 


1930 


57, 106 


1931 


33, 195 


1932 


34, 570 


1933 < 


34. 025 


1934 < 

19351 


23, 178 
24, 609 


1936 < 


16,163 


1937 4 


26.019 


1938* 


22, 648 









Net taxable estate 




Tdx 




Filina; period 


Total 


Resident 
decedents ' 


Nonresi- 
dent dece- 
dents 3 


Total 


Resident 
decedents 2 


Nonresi- 
dent dece- 
dents 3 


Sept. 9, 1916-Jan. 15, 1922 

Jan. 1.5-Dec. 31. 1922 

Jan. 1-Dec. 31: 

1923 


5, 509, 522 
1, 704, 974 

1,532.061 

1, 39.5, 816 
1, 6.58, 869 
1 972, .537 
1,761.617 
1, 992. 503 

2, 313, 976 
2. 427. 454 
2, 356, 332 
1,423,437 
1,000,924 
1,170.566 
1, 339, 776 
1, 260. 022 
1.646,613 
1, 745, 259 


5, 407, 674 
1. 652, 832 

1, 504, 621 

1, .372, 421 
1.621,008 
1.951,969 
1,735,840 
1.943.429 

2, 268, 323 
2, 376, 973 
2, 327, 319 
1,391.569 

970. 868 
1,1.50, .533 
1, 316, 888 
1 245.395 
1, 622, 618 
1, 724, 589 


101, 849 
52, 142 

27, 440 
23. 395 
37, 861 
20. 567 
2.5. 777 
49. 075 
45, 653 
.50. 481 
29.013 
31,868 
30, 056 
20. 033 
22.888 
14, 627 
23, 995 
20, 670 


356. 516 
120, 562 

89. 109 
71,939 
87, 322 
101,805 
41, 686 
41, 9.59 
44, 388 
41,617 
45,200 
23. 674 
61,415 
96, 216 
15.5.466 
196,370 
308, 450 
316, 802 


351, 138 
117,624 

88,384 
71.451 
86. 223 
101,324 
40, 931 
40, 561 

43, 303 
39, 003 

44, 540 
22, 364 
.59. 429 
95. 228 

1.53, 763 
19.5. 301 
305, 784 
314. 620 


5, 378 
2,938 

726 


1924 . --- 


488 


1925 


1,099 


1926 


481 


1927 


755 


1928 - . 


1,398 


1929 


1,085 


1930 


2,614 


1931 


660 


1932 


1,310 


1933* 


1,986 


1934 * --. 


988 


1935* 


1,703 


1936* 


1,069 


1937* 


2,665 


1938* 


2.182 







1 Changes in the Revenue Acts affecting the comparability of statistical data from estate tax returns are 
summarized on pp, 196-197. 

' Includes citizens residing outside the United States who died on or after May 11, 1934. 

3 Excludes citizens residing outside the United States who died on or after May 11, 1934. 

* The net taxable estate for decedents who died after 4:59 p m., June 6. 1932. is net estate subject to the 
additional tax under the Revenue Act of 1932 or that Act as amended. The data on net taxable estate for 
the years 1933-37 have been revised. The tax is the tax imposed by the Revenue Act of 1926 plus the addi- 
tional tax under the Revenue Act of 1932 or that Act as amended. 



106 STATISTICS OF LN-COME 

GIFT TAX RETURNS 

The gift tax. payable by tlie donor, is imposed upon the transfer of 
propertV by sift made subsequent to June 6, 1932. Any individual 
citizen or resident of the United States who makes any transfer by 
eift vrhich exceeds So.OOO in value to any one donee, or regardless of 
value if the gift consists of a future interest, must file a gift tax return. 
A return is required even though, because of the amoimt of the 
specific exemption and the deduction for charitable, public, and 
similar gifts, a tax may not be due. A nonresident alien is similarly 
required to file a return if the gift consists of property situated in the 
United States. 

There are presented herein tables compiled from data reported on 
gift tax returns for 1937. filed during 193S imder the provisions of the 
Revenue Act of 1932. as amended by the Revenue Act of 1935. Ac- 
cording to the provisions of the Revenue Act of 1935 the graduated 
gift tjix rates were increased and the specific exemption allowed each 
resident or citizen donor was reduced from SoO.OOO to $40,000. which 
exemption can be taken in one year or the amoimt can be spread over a 
period of years, at the option of the donor, but after the limit has been 
reached no further exemption is allowable. If the total of the specific 
exemptions for gifts made prior to the calendar year 1936 exceeds 
S40.000 an adjustment is made on the returns for 1937. so that the 
specific exemption, which is used in the computation of the gift tax 
for the calendar year 1937. does not exceed S40.000. A nonresident 
aUen donor is not entitled to a specific exemption. 

The rates of tax in force for the calendar year for which the return 
is filed are appUed. first, to the cimiulative net gifts made from June 
6. 1932 (the date of the enaetment of the Revenue Act of 1932), 
through the end of the calendar year for which the return is filed. 
From the tax so determined there is deducted an amount computed 
by applying like rates to the cumulative net gifts made up to the 
beginning of such calendar year. The balance is the tax liabihty for 
the calendar year for which the return is filed. A synopsis of gift tax 
rates, specific exemption, exclusion, and deductions under the Rev- 
enue Act of 192-4 and subsequent Acts is presented in the section of 
this report entitled "Revenue Acts of 1913-1937 and certain tax 
provisions of the National Industrial Recovery Act. 1933. "' page 198). 

The data presented in the following tables are taken from returns 
as filed and prior to whatever revision or adjustment that may be 
made as a result of audit by the Bureau of Internal Revenue. The 
tax habihty shown in the tables does not correspond with the actual 
collections for the same period, as payment of the tax shown on the 
returns is at times deferred, and for the further reason that any 
deficiency taxes or overassessments disclosed by the audit are not 
reflected. 

In the tables, the term '"total gifts" represents the value of the 
property transferred less any money consideration received in ex- 
change. proArided a donative intent existed. The tax is imposed upon 
the net gifts which are obtained by subtracting from the total gifts: 

(1) All exclusion of S5,000 for each donee (except in cases of futtire 
interests) ; 

(2) The included amoimt of gifts represented by charitable, pubUc 
and similar gifts; and 



STATISTICS OF IXCOilE 



107 



(3) Specific exemption not in excess of §40,000 for each resident or 
citizen donor, all of which may be taken in one year or the amomit 
spread over a period of years, at the option of the donor. 

The several forms of gifts, comprising total gifts, have been classi- 
fied under the headings of real estate, stocks and bonds, cash, in- 
surance, and miscellaneous. The last-named classification includes 
jewelry, objects of art, copyrights on books, the forgiveness of debts, 
interest in business, the assignment of a judgment, the assignment of 
benefits of a contract of insurance, etc. Gifts of stocks and bonds 
comprise 62.7 percent of total gifts, followed by gifts of cash amount- 
ing to 15.2 percent, miscellaneous gifts 8.8 percent, real estate 8.2 
percent and insurance 5.1 percent. Gifts for charitable, public, and 
similar purposes amounted to 16.9 percent of the total gifts made. 

Slightly less than one-fourth of the total gifts were effected by 
trusts. The following table gives, for each form of property, the total 
gifts, amounts by trust, and all other gifts: 

Gift tax returns, 1937, by form of property: total gifts, amount hy trust, and all other 

gifts 

[Thoasands of dollars] 



Form of property 



Total 

gifts 



Amoimt 
by trust 



AH othCT 

sifts 



Realestatp 46,704 

Stocks and bonds 556,421 



Insoranee 

Miscellaneous 


• 17S 


S. Mi 
1U401 


iv. S'90 
as. 777 


Total 


.V.S.109 


136. 4S3 ■ 


431.636 









From the following table comparison can be made with respect to 
all returns for the calendar years 1932 through 1937: 

Gift tax returns, 1932^—37: total number of returns, number of taxable and non- 
taxable returns, total gifts, net gifts and tax 

iMoneT figures in thousands of dollars] 



Number of returns 



Calendar years 



Total 



Taxable 



Non- 
taxable 



Total 

eifts 



Net 

sifts 



Tax 



19321 


1,747 1 


243 


1.502 


81.389 


17.S79 \ 


1,111 


1933 


3.6S3 1 


878 


2.805 


241.008 


101,793 ' 


S.943 


1934 


9,270 


2,528 : 


6.742 


SS8.753 


-537.063 


- * N5 


1935 


-22.563 


8. as 


13.S45 


Z 130. 514 


1, 196l 001 


. ■ r ■> 


1936 


' 13.420 ' 


3,770 


9.650 


4S2.7S3 


134.979 


■ . -i 


1937 


13.695 


4.12S 


9.567 


5C.S. 109 


1&3.&39 


2:1 7.5a 



1 1932 covers period from June 6 through Dec. 31. 1932. 

Of the donors who filed gift tax returns for 1937. there were 4,981 
who had also filed returns in one or more prior years. The number 
of returns, and the amounts of net gifts and tax. as reported on the 
1937 returns, of these identical donors are given in the following table. 
Of the 4,981 returns for identical donors, 2. 058 returns were filed by 
donors who had also filed taxable returns for prior years. Of these 
2,058 returns, 2,049 are taxable and 9 are nontaxable for 1937. 



186583 — iO- 



108 



STATISTICS OF IXCOME 



Gift tax returns of ideniical donors, 19S7 and one or tnore prior years:^ number of 

returns, net gifts and tax 

[Money figures in thousands of dollars] 



Number , 

of returns j 

forl937 



Net gilts 



Total 



Prior 
years' 



Tax 



Total 



Prior 
years ■ 



1937 



Returns taxable for 1937 of donors 
filing nontaxable returns for 
Drior yesrs 

Returns taxable for 1937 of donors 
filing taxable returns for prior 
ye :\rs 

Renirns not taxable for 1937 of 
donors filing taxable returns 
for prior years 

Returns not taxable for 1937 of 
donors filing nontaxable re- 
turns for prior years 

Total 



704 



a 049 



2.219 



25,625 



429.742 



•6.084 



1339.845 
'6,084 



25.625 
89.899 



4.9S1 461.452 345.929 ' 115,524 



1,981 
66.870 
» 1, 181 



7a 032 



'52,792 
' 1, 181 



1.9S1 
14,078 



53. 973 16. 059 



1 Period from June 6. 1932, through Dec. 31, 1936. 

» Figures adjusted according to provisions of sec. 301 (b'> of the Revenue Act of 1935. When a specific 
exemntion of over ^t.OOO and not over S50.000 has been taken for gifts made in years prior to 1936. the net 
sifts for prior years, as reported on the 1937 returns, are increased by the amount taken in excess of $40,000. 
The tax "for prior years is computed on this increased amount of net gifts. 

5 These amounts are probably understated because there is not always sufficient information shown on 
the current year return for their computation. However, whenever possible, these figures are adjusted 
according to the method given in footnote 2. 

Tables 1 ami 2 helow show, for taxable and nontaxable returns 
separately, the number of returns, form of property in which grifts are 
made, total gifts before exclusions, exclusions, total eifts after ex- 
clusions, deductions, net gifts and tax. The data are classified in 
table 1 by the size of the net gifts and in table 2 by the size of the total 
gifts. This year, for the first time, the ''exclusions not exceeding 
$5,000 for each donee" are segregated into those for ''charitable, 
public, and similar bequests" and ''other than charitable, pubhc, and 
similar bequests" and the amoimts of net gifts and tax are sho'UTi for 
the gifts made during prior years. 

Table 1. — Gift tax returns, 1937, by net gift classes: number of returns, total gifts 
by form of property,^ exclusions, total gifts after exclusions, deductions, net 
gifts ^ and tax 

[Set gift classes and money figures in thousands of dollars] 





Number 
of re- 
turns 




Total gifts by form of property 




Total 
gifts 


Net gift classes > 


Real 
estate 


Stocks 

and 

bonds 


Cash 


Insur- 
ance 


Miscel- 
laneous 


before 
exclu- 
sions 


Nontaxable returns: 

No net eifts 


9.567 


30.401 


145.053 


37.223 


12.060 


25.585 


250.322 






Taxable returns: 

Under 5 

.=) nnder 10 


1,118 

612 

6S7 

400 

22S 

220 

459 

235 

107 

34 

13 

11 

4 


Z097 

1,795 

2,801 

1,870 

1,036 

744 

2,577 

1.849 

709 

792 

10 

25 


16.390 

9,901 

16.228 

11.055 

9.347 

10.171 

30,245 

40.215 

26.489 

14.846 

7.592 

9.004 

9.SS5 


4.769 
3.S37 
5.225 
4.911 
2.M2 
3.100 
7.547 
8.168 
4.061 
1.7S4 

532 
1.434 

641 


2.384 

l.SSl 

2.532 

1.S95 

1.127 

1.35S 

2.625 

1.709 

289 

379 

46 

331 

118 


2.360 
2.129 
2.4S5 
2.515 
1.444 
1.358 
5.104 
2.560 
1,362 
594 
1.595 
1,067 
20 


27.999 
19 542 


10 under 30 


29,270 


20 under 30 


22,247 


an riTider 4fl 


15 795 


4n nnfiflr ^ 


16 730 


oOonderlOO 


48,098 
54,501 


100 under 200 


200 nnder 4nn 


32,909 


400 under 600 


18.395 


600 under 800 


9,774 


800 under 1,000 


11 861 


1,000 and over 


10.664 


Total taxable returns 


4.12S 


16.303 


211.367 


48. Sol 


16. 672 


24.593 


317. 787 


Grand total 


13. 695 


4ti. 7W 


356. 421 


S6.0:4 


2S.r32 


50,175 


565 109 







For footnotes, see p. l'r<9. 



STATISTICS OF IXCOME 



109 



Table 1. — Gift tax returns, 1937, by net gift classes: number of returns, total gifts 
by form of property,^ exclusions, total gifts after exclusions, deductions, net 
gifts,'^ and tax — Continued 

[Net gift classes and money figures in thousands of dollars] 



Net gift classes ' 



Exolusions not exceeding 
$5,000 for each donee 



Total 



Chari- 
table, 
public, 

and 
similar 
bequests 



Other 
bequests 



Deductions 



Total 
gifts 
after 
exclu- 
sions 



Total 



Chari- 
table, 
public, 
and sim- 
ilar be- 
quests 
after 
exclu- 
sions ' 



Specific 
exemp- 
tion 
claimed 
on 1937 
return * 



Nontaxable returns: 

No net gifts 

Taxable returns: 

Under 5 

5 under 10 

10 under 20 

20 under 30 

30 under 40 

40 under 50 

sounder 100 

100 under 200 

200 under 400 

400 under 600 

600 under 800 

800 under 1,000 

1,000 and over 

Total taxable returns 

Grand total 



71, 919 



10, 335 

5,940 

7,613 

4,613 

3,050 

2,730 

6,230 

4,155 

2,160 

951 

375 

445 

145 



48. 742 



4,525 I 67,394 



178,403 



178,403 



550 
155 
320 
300 
195 
145 
445 
475 
285 
135 

75 
100 

30 



3,210 



120,662 



7,735 



9,785 

5, 785 

7,293 

4.313 i 

2.855 

2.585 

5,-785 

3,680 

1,875 

816 

COO 

345 

115 



45,532 



17,664 
13,603 
21.657 
17,634 
12.745- 
14,000 
41,868 
50,346 
30, 749 
17,444 
9,399 
11,416 
10, 519 



15, 491 
9,332 

11.835 
7,979 
4,923 
4,223 

10,281 

18,284 

2,479 

1,466 

246 

1,387 

181 



49.209 



2.071 

627 

1,276 

1.447 

1.270 

569 

1,696 

14,065 

882 

929 

101 

1,311 

61 



112,927 I 447,447 266,508 



75. 514 



129.194 



13,420 

8.705 

10, 559 

6.533 

3.653 

3,654 

8,585 

4.218 

1,597 

537 

145 

75 

120 



269,045 88.106 [ 26.305 61,801 



190,995 



Net gift classes 2 



Net gifts 



Tax 



Total 



Prior 
years ' 



1937 



Total 



Prior 
years ' 



Nontaxable returns: 
No net gifts 

Taxable returns: 

Under 5 

5 under 10 

10 under 20 

20 under 30 

30 under 40 

40 under 50 

sounder 100 

100 under 200... 
200imder400... 
400 under 600- _. 
600 under 800... 
800 under 1,000.. 
1,000 and over -- 



« 6, 084 I «6,084 



• 1, 181 



• 1, 181 



65,867 
34,352 
46,226 
29,819 
30,535 
27,428 
67,556 
75,866 
53,113 
37,901 
15.946 
22,499 
13, 674 



63,694 
30,081 
36,404 
20,165 
22,713 
17,696 
35,924 
43,804 
24,843 
21,923 

6,793 
12, 470 

3,335 



2,173 

4,271 

9,822 

9,655 

7,822 

9.731 

31,633 

32.063 

28,270 

15, 979 

9,153 

10,029 

10, 339 



7,748 
3.747 
5.289 
3.055 
4.339 
2.963 
7.681 
11. 705 
7.837 
9.130 
3.107 
5.387 
3.562 



7.649 
3. 558 
4.817 
2.541 
3.798 
2.226 
4,933 
7.870 
3,811 
6.451 
1.344 
2.969 
825 



Total taxable returns 520.784 339.845 180.939 



75. 551 



52. 792 



188 

472 

514 

541 

738 

2.747 

3.835 

4.026 

2.680 

1.763 

2.418 

2.737 



22.7.58 



Grand total 526,868 345,929- 180,939 76, 731 | 53,973 



22.758 



1 Total «ifts before subtracting exclusions and before deducting charitable, public, and similar gifts and 
specific exemptions. 

2 Net gifts after exclusions and deductions. 

3 Total charitable, public, and similar gifts after total exclusions for such gifts not exceeding $5,000 for 
each donee fexcept future interests) . 

< A specific exemption of $40,000 is allowed each resident or citizen donor (see sec. 301 (b), Revenue Act 
of 1935"t. .-Vt the option of the donor, this amount may be taken in one year or spread over a period of years. 

5 Prior years cover the period from June 6, 1932, through Dec. 31, 1936. Data are adjusted according to 
provisions of sec. 301 (bl of the Revenue .\ct of 19'?o. When a specific exemption of over S40.000 and not over 
$50,000 has been taken for gifts made prior to 1936. the net gifts lor prior years reported on the 1937 returns 
are increased by the amount taken in excess of $40,000. The tax for prior years is computed on this increased 
amount of net gifts. T-be number of 1937 returns for donors who filed taxable returns for prior years is 2.058. 
Of these 2.05S returns, 2.049 are taxable and 9 are nontaxable for 1937 (see table for returns of identical donors, 
p. UiSi. 

5 These amounts are probably understated because there is not always sufficient information shown on 
the current year return for their computation. However, whenever possible, these figures are adjusted 
according to the method given in footnote 5. 



no 



STATISTICS OF INCOME 



Table 2. — Gift tax returns, 1937, by total gift classes and by taxable and nontaxable 
returns: number of returns, total gifts before exclusions,^ exclusions, total gifts 
after exclusions, deductions, net gifts ^ and tax 

[Total gift classes and money figures in thousands of dollars] 





Total 
num- 
ber of 
returns 


Taxable returns 


Total gift classes ' 


Number 

of 
returns 


Total 
gifts 
before 
exclu- 
sions 


Exclusions not exceeding 
$5,000 for each donee 


Total 
gifts 
after 
exclu- 
sions 


Deduc- 
tions 


Total 


Chari- 
table, 
public, 

and 
similar 
bequests 


Other 
bequests 


Total 


Under 5 . 


145 

2,529 

3,421 

2,135 

1,626 

1,402 

1,623 

532 

177 

51 

18 

14 

11 

4 

2 


36 

392 

587 

408 

300 

404 

1,258 

501 

161 

41 

17 

11 

8 


72 
2,699 
8,352 
9,865 
10. 396 

18, 293 
85, 487 
66, 414 
43, 356 

19, 681 
12, 055 

9,905 
9,232 








72 

794 

3,747 

5,590 

6,831 

14, 248 

69, 986 

57, 709 

40,111 

18, 510 

11,490 

9,500 

8,802 


5 




1,905 

4,605 

4, 275 

3,565 

4,045 

15, 501 

8,705 

3, 245 

1,171 

565 

405 

430 




1,905 

4,445 

4,140 

3,340 

3,900 

14,916 

7,995 

2, 715 

961 

510 

305 

260 


46 


10 under 20 ,. 


160 
135 
225 
145 
585 
710 
530 
210 
55 
100 
170 


457 


20 under 30 __- 


928 


30 under 40 


1 763 


40 under 50 

50 under 100 -- . - 


8,670 
35 988 


100 under 200 


14, 499 


200 under 400 


5,427 

2,468 

661 

2, 576 


400 under fiOO 


600 under 800 

800 under 1,000 


1,000 under 1,500 


2,164 


1,500 under 2,000 . .. 


2,000 under 2,500 


1 


2,058 


60 


35 


25 


1,998 


1,023 


2,500 under 3,000 




3,000 under 3,500 


















3,500 under 4,000 


















4,000 and over 


5 


3 


19, 923 


265 


150 


115 


19, 658 


11, 432 


Total 


13, 695 


4,128 


317, 787 


48, 742 


3,210 


45, 532 


269, 045 


88, 106 





Taxable returns— Continued 




Deductions— Con. 


Net gifts 


Tax 


Total gift classes ' 


Chari- 
table, 
public, 

and 
similar 
bequests 
after ex- 
clusions 3 


Specific 
exemp- 
tion 
claimed 
on 1937 
return < 


Total 


Prior 
years ' 


1937 


Total 


Prior 
years ^ 


1937 


Under 5_ 


3 


2 

46 

384 

803 

1,516 

8,388 

34, 799 

11, 787 

3,001 

574 

225 

75 

120 


2,318 
30, 140 
48, 542 

32, 437 
30, 223 
21, 744 
81, 257 
94, 559 
66, 381 

33, 723 
28, 469 
15, 744 
21, 795 


2,252 
29, 391 
45, 252 
27, 775 
25, 156 
16, 165 
47, 258 
51,350 
31,696 
17, 681 
17, 641 

8,819 
15, 158 


67 

748 

3,289 

4,662 

5,068 

5,578 

33, 998 

43, 209 

34, 684 

16, 042 

10, 829 

6,924 

6,637 


208 
~ 3, 623 
5,306 
3,946 
3,540 
2,360 
8,369 
11,825 
9,429 
6,142 
7, 672 
3,355 
6,149 


204 
3,579 
5,110 
3,648 
3,189 
1.962 
6,091 
7,570 
4,825 
3,508 
5,662 
1,942 
4,421 


5 


5 under 10,-. . . 


44 


10 under 20 


74 

125 

246 

282 

1,189 

2,712 

2,426 

1,893 

436 

2,500 

2,044 


196 


20 under 30 


298 


30 under 40 .. 


351 


40 under ,50 


398 


sounder 100 


2,278 
4 255 


100 under 200 -. 


200 under 400 

400 under 600 . . 


4, 604 
2 634 


600 under 800 


2,010 
1 413 


800 under 1,000 


1,000 under 1,500- 


1 729 


1,500 under 2,000.- _. 




2,000 under 2,500 


1,023 




4,961 


3,986 


975 


1,426 


1,051 


376 


2,.500 under 3,000 






3,000 under 3,500 


















3,500 under 4,000 


















4,000 and over 


11,352 


80 


8,491 


265 


8,226 


2,197 


30 


2,167 


Total 


26, 305 


61,801 


520, 784 


339, 845 


180, 939 


75, 551 


52, 792 


22, 758 





For footnotes, see p. 109. 



STATISTICS OF INCOME 



111 



Table 2. — Gift tax returns, 1937, by total gift classes and by taxable and nontaxable 
returns: number of returns, total gifts before exclusions, exclusions, total gifts 
after exclusions, deductions, net gifts ^ and tax — Continued 

[Total gift classes and money figures in thousands of dollars] 



Total gift classes ' 



Nontaxable returns 



Number 
of re- 
turns 



Total 
gifts 
before 
exclu- 
sions 



Exclusions not exceeding 
$5,000 for each donee 



Total 



Chari- 
table, 
public, 

and 
similar 
bequests 



Other 
bequests 



Total 
gifts 
after 
exclu- 
sions 



Under 5 

Sunder 10 

10 under 20 

20 under 30 

sounder 40 

40 under 50 

sounder 100 

100 under 200 

200 under 400 

400 under 600 

600 under 800 

800 under l.OOO... 
1,000 under 1,500. 
1,500 under 2,000. 
2,000 under 2,500. 
2,500 under 3,000. 
3,000 under 3,500. 
3,500 under 4,000. 
4,000 and over. _ . 



109 

2,137 

2, 834 

1,727 

1.326 

998 

365 

31 

16 

10 

1 

3 

3 



231 
15,102 

39, 581 
41,892 

40, 216 
43,419 
21, 629 

4,224 
4,666 
4,763 
751 
2,701 
3,671 
6,983 
2,154 



10, 420 

18, 220 

13, 840 

11,480 

9,450 

7,509 

335 

275 

200 

15 

70 

30 

60 

5 



705 

830 

645 

390 

285 

725 

310 

255 

195 

15 

65 

30 

60 

5 



9,715 

17, 390 

13, 195 

11,090 

9,165 

6,784 

25 

20 

5 



231 

4,682 

21,361 

28, 052 

34, 736 

33, 969 

14, 120 

3,889 

4,391 

4,563 

736 

2,631 

3,641 

6,923 

2,149 



12, 339 



12,329 



Total. 



9,567 



250, 322 



71,919 



4,525 



178, 403 





Nontaxable returns— Continued 




Deductions 


Net 
gifts for 

prior 
years ' « 




Total gift classes ' 


Total 


Charitable, 
public, and 
similar 
bequests 
after exclu- 
sions 3 


Specific 

exemption 

claimed on 

1937 

return * 


Tax 
for prior 
years » • 


Under 5 .. .- .. .. 


231 
4,682 
21,361 
28, 052 
34, 736 
33, 969 
14, 120 
3,889 
4,391 
4,563 
736 
2,631 
3,641 
6, 923 
2,149 




231 

4,404 

20, 356 

26, 704 

33, 673 

33, 241 

10, 546 

13 

14 

11 






Sunder 10 . .. .. 


277 
1,005 
1,348 
1.063 

728 
3, 574 
3,876 
4,377 
4.552 

736 
2.630 
3,641 
6,923 
2,149 


827 
859 
917 


121 


10under20 .. -.. ... 


118 


20 under 30 


128 


30 under 40 




40 under 50 






SO under 100 .. .. .. . 


273 


31 


100 under 200 .. ... 




200 under 400 






400 under 600 


3,208 


782 


600 under 800 




800 under 1,000 .. ... 


1 






1,000 under U.TOO 






1,500 undf>r 2,000 








2,000 under 2,500 








2 500 under 3 000 








3,000 under 3,500 












3,500 under 4,000 












4,000 and over 


12. 329 


12, 329 
















Total 


178, 403 


49, 209 


129, 194 


6,084 


1.181 











For footnotes, see p. 109. 



112 STATISTICS OF INCOME 

HISTORICAL DATA IN SOURCE BOOK 

The Source Book is a comprehensive compilation of data tabulated 
from individual income tax returns for 1927-1936, inclusive, and from 
corporation income tax returns for 1926-1936, inclusive. These data 
are supplementary to the published volumes of the Statistics of 
Income. It is planned also to transcribe in the Source Book the in- 
formation for the 1937 returns. 

The information in the Source Book for individual income tax 
returns is: The sources of income and deductions (as published for 
each year in the Statistics of Income), total income, total deductions, 
net income, personal exemption and credit for dependents (combined 
for 1927-1932 and shown separately for 1933-1936), earned income 
credit for 1934-1936, net loss for prior year for 1927-1932, normal 
tax, surtax, 12^ percent tax on capital net gain for 1927-1933, 12}^ 
percent tax credit for capital net loss for 1927-1933, tax credit for 
earned income for 1927-1931, and total tax are cross-classified by 
States and Territories, by taxable and nontaxable returns and by net 
income classes. The number of returns with net income and the 
amount of net income are cross-classified by States and Territories, 
by taxable and nontaxable returns, by net income classes and by 
types of sex and family relationship. Items of amount owned ami 
interest received which are reported for each kind of wholly and 
partialh" tax-exempt Government obligations on returns with net 
income of $5,000 and over for 1932-1936, inclusive, are cross-classified 
by States and Territories and by net income classes. 

The Source Book is available for research purposes to qualified 
students representing accredited organizations and to administrative 
officials of State and other goivernmental units. A copy of the 
Source Book is maintained in the Statistical Section, Income Tax 
Unit, Bureau of Internal Revenue. Written permission to copy data 
from the Source Book must be secured from the Commissioner of 
Internal Revenue. 

BASIC TABLES 

Tables are continued in the following pages exhibiting in greater 
detail information from individual income tax returns. 

SYNOPSIS OF INDIVIDUAL INCOME AND PROFITS TAX RATES, FIDUCI- 
ARY INCOME TAX RATES, AND ESTATE AND GIFT TAX RATES 

There is also included a synopsis of individual income and profits 
tax rates, fiduciary income tax rates, estate and gift tax rates, credits, 
and exemptions affecting the comparability of the data in the Sta- 
tistics of Income in the section of this report entitled "Revenue Acts 
of 1913-1937 and certain tax provisions of the National Industrial 
Recovery Act (1933)," on pages 185-198. 
Respectfully, 



Guy T. Helvering, 
Commissioner of Internal Revenue. 



Hon. n. MORGENTHAU, Jr., 
Secretary of the Treasury. 



BASIC TABLES 



INDIVIDUAL INCOME TAX RETURNS 



1 Tables 1-7 and 9 include taxable fiduciary income tax returns. Tables 8, 10, and 11 do not include 
fiduciary income tax returns. 

113 



STATISTICS OF INCOME 



115 



^ V 



as 
Z 



C 03 a ii 
o 3 — -i 



-^ '^' '^' 1^ X p 



1^ X c; r^^ u^ cc r^ re -^ ■^' X* r-^ ^' -^ ci "^ — :c to o cc X c: c^ c^ ^ r;: r^ 






!© c; C"! 1- — ^ tf r>; — :c c^ :c c^' ?c ci 35 —• cs tr: — --■ — .' c^ — *"rj-' — ■ ^ 3 "^ '*' — • iJ^ ^ C:: ^ £r 

ioocc;X-^r?r;xt-— -c^jcct^cc — ox — xrc^ccs^rcx — ^:c-^t--c^ — ox^ 



C: X CiTt« M 
(^ t^ o 

re X X 



: t- O X =C t^ O 



c«5h-ioi:D05cet^CT'Tr'^cc^t^X"^'O-—c^'^XMrc^-t^t^Tt*xc^ 
osococD^O — ro--xrcroc^h-r*d^h---roc^rcOi"^rcroc^t--_ 
os^0fi^or^x-3i'oc^-^rorfoo^c^»ec0'^0'^^c^oceox-<ti 

ic cs'-rjTio'o c: 

ic -^ re CO ~ 

^ »0 Ci X 



oc:X'3i:coOiccxu^cc--rec^c^o— ■^xcscex — CsOrtHr^A^Si^ 
— C5— >c^xt^ocic^ox*C!Nt^c^oxrtO'<**xc^"tice!rc^Tr3,x^p 
oxcs-oc5?ef^oc^t^xor^^c^»cce-^C5iooc^ai'*c^o-HOiccer^ 



a^ 



re 'M r 



' c<i 



cs o "5 '— « c^ 



iCi 






oo^ot^ irrocer^ — c^ore— 'C^c^xxre — — r-rec^xxr^-^repxicio 



-^oxcMc^^cxoor-ocij-.^^xx 



i re oce o ^ cc i 



x — o — x«:^«5— 'C^oxoM<<NXci'd:^ce»«3>xo^^M 

r ue' :£ ^' 1^ t-^ cT :D •--*^ t--^ x" O* o" X "i' t>^ cd" 



^■^c^xoi-Hr^yrrecc — X — x — ^ — x(M* 
-HicNioxcexoi'-^xci^oreO'—'CS'^i^xc-^^, -----;^-— -— ^>i-_-^^ 

.-T o io t^ o oT ce c^ u^ od" t^ Tt^ cT ^ cT Tjl" ce" o i>^ '• 



€^ ^ 



o^ c^ c^^ ^ 



^ ce N ^ ^^ ^^ cc t^ X c<i CO 



;cec» — ce'<fXt^OTro!CMC^;5*r^o 



• ^c^O!C»c«cr^---H'^r-'^— 'Ore'— ' 



^ r* 




• «5icc^^'^o^Ofc^ceicx»o 

ic" |C |C 00 ic~ c4" sT X -^ ^ c4" i>r Tf c 
(^cecor^X't^c^xO'-''^'^ — - 



Tj«"ce ^^ce ^o o »o ^ri"c*^ic ic'-^t^o X re ^"cc PC c^ 'o' 

^H^ceOw50»c^»o«eoscei^»ot--'-Hce»cc*^r-"C5C^^ 



-^rexb^'^'*:^^^ceceC5xr^^3ic:oir^«c^"^r^M'r^cet^ — ^— *tr*-'^'^*^t*^ 

c^Creoc<ire;cc&»0'^XTt*csfeCiCs:cr^ — x^cr^se^o^^C;"^-'— 'CST^ — C5» 



• o r^ X X I 



: ^ !>j to r* t^ ic : 



: !0 i^ r: ue u* — . ■■ 






,-H"^0'^-HOi5■S:coxco^-SKceoco^ox^^^*xx'OC^^o^•^5■^ceo 

cT cs '«J^ r^ sD Tj^ '^" ws" '^ »o TP ce ■•j^ ^ CO -^ x"^ --" •je r-^ ce 
ro?c;cr>-ioxoc^reo«^0005»C':coscs»cioxc^»ccir^c^ce;oo-*j'f^f^c^c^ 

_ _-.. ... _ ,_! ^ X—H N 

^ ce" ^ 



oiCTsc^-^— .re:cxt^X"^reoxcic^ 



lO O O CS l^ : 



; — «r c; X » 



;c^rerexf;C'^t^ce:cc:< 



osoxc:icic:coc^<:ci 



-^-H-Hio»c« — ore 



lO 1— I 1— . 



j: ce t 

to — < 



icr:rerec;firocet~-xrsTf* — ^e--cxu-x^- 
:— c^xc:X':cc^'-e:c^■^■^'-"c;^^'^~^* 

.u;— — cC'^iCX'^'^^criwC: i-*-^w-rO 

' -^ x" ^T "^ x' r^ t-^ to cT o X* — tf re' cT x' - 

licence — OP — ■^:~"' 



oi c; — r- '^ — X 



X»ooa5'n'iotoio-^'^«x^^ — "^»c»c«cC5ceocseox^'^>oo!:C'*M<?^!;cc;c^o 
ceooiCiCNire'^^c— ix?e — '^xxxr^'OfMCs — ceox<:c::coxc<»xc^csice:ct>» 

y-^io ■x'<*^xcot^ce--<-<»'cccccec<ic^ — c^cct^t^cCTji ■re*cre'x:Tj«"!crex — ^*»o 



-2 -^ r^ o3 « CJ 



"ec^x-^ — — ' — r^o»oo5cex'^^'^oc^:caj«coc^«CiC5Tt«-^o 
Cii— <^^0^*T?'ccc^^-x0i»^*^-»cccM^elC^-'^^^elC0^xce^o — 
x■■<J<O"Or^^^!C5CoeeTrx"^»J^xci— x^Trx':coC5uece— 'to 

c^ c^;c-^-^ ^re r-Tcew — c^^i" --rTr'-^'c^M re --" 



Tf--orecNc;c^;oce 

lo,— — .^c^iocsoce 

Tf o; "^ r^ t^ 






cS ~ -! : C ~ 






>>08 

J<! a 

1= 5 C C 3 









c 03 5fl '-^ -^ .2 C ■*> !5 x: t; -^ .; t; i_ s 
C-J3ScC3-3';2^Ckx5^>S&SS 



111 ^ 



116 



STATISTICS OF INCOME 









o O to 

c 03 a ij 



.g o ii 3 ,— ,-0 
*j -^ 35 03 » a 



rf*:OCCe0Q0CC<Mlr^Q000t^l^0000CO 

1— I I— I C^ i-H ^ ^H 



O0Ct*as«C— «C3SXCiCCO— '<SiQON 

cc c^Tco'cocc c^'m"cc cs (Ncc cj"cs c<rc<f I CC 






"^coosiC'— *0'^r^?Dt-Tf*»-H"^-«a<oo 






(N !N CC O O CO »0 ; 



OOCCt^O^N t^ CC ^ -— ( <N 






CO ^ r-( 



■^C^^iOC5C£lOC*5-^XtCCCOC*OUD 



OOic:C-^C^cc:COO^-CiCOCDT^ 
OT C^ TT oT x"" CC" CO c4" X" CC O -^ X" CO CO 



X!Nl^O — t^-^COt^-^CCTfOSC;^ 
fCCOC^«iO'^OC^C^ICNCOCOO<NC^ 



»oot^co:ccsco?^io:":;:c»co'r^ic 

cs-^O'jfro— ' — cs-hx — X'^t^-^ 
cocowjx— r-»iCTf — r^cor-iocsco 

c^ '^ ic ic' tc" — oT irf oT "^"^ r-T lo X*" t^ c^ 
^Ci'*'t-*'^c^c;«^roc^ircr-c;cct>) 



xxiOTf«ccc:ioc^r^xoxr^OiO 
o«o»oc^ic;r^??c^'0"^-^ioaix 

CO-<?'iOOOCOCOX^^'^"COTtiTj< 






iOOCO?^35XiOi 



> o -^ o f:c cc c 



•-• — 'X — ' ^ t^ cs 



lo CO ; 

CM ^'' 



coCM— •cocoxx»0(N-^ic;oeoor^ 

CMOOit--— <csOS'-iO:t--tj'XCSCM'* 

COXfNC^COCOiO-^XXCCCOCOXCM 



»C-H<£>cOCO'— XCCdCO'-'TtiOS-^CM 



t^5*co»0'<*'rt*eoxcocotci^xo5'— ' 

'-'OCDCOCMOO^XO^O'-'i-hCM 
C^»C*C«O^*^cip0C0C0!NCCC0'iO»O 



XI>-0— **OWCOC^03COCDO»0?OiO 

loO'-H^oxcox^iocot^r^xoscs 



03*0 .55 _ 

■5go = J i i i •«« , 

•3®a^33a>!cet:£f3gM>; 



^ a; 

as 



■a a 
a o 

OX! 

2 o 



0[i( 
35 



a> a 

« ea . 

§i| 

o «; a 

•a D'2 

O I- u 



STATISTICS OF INCOME 



117 



Table 2. — Individual returns ^ with net income, 1937, by net income classes: number 
of returns, net income, personal exemption, credit for dependents, earned income 
credit, tax, average tax and effective tax rate 

[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-7] 



Net income classes 
(Thousands of dollars) 



Number of 
returns 



Net income 



Personal exemption and credit for dependents 



Total 



Personal 
exemption 



Credit for 
dependents 



Under 1 (est.) '.... 

Under 1 (est.) 

1 under 2 (est.) 2_-- 

1 under 2 (est.).--- 

2 under 2.5 (est.) 2. 

2 under 2.5 (est.)... 
2.5 under 3 (est.) 2. 
2.5 under 3 (est.)... 
Sunder 4 (est.) s... 

3 under 4 (est.) 

4 under 5 (est.) 2__, 

4 under 5 (est.) 

5 under 6 ^ 

5 under 6 

6 under 7 

7under 8 

Sunder 9 

9 under 10 

10 under 11 _ 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

sounder 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

sounder 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500... 
1,500 under 2,000... 
2,000 under 3,000- _. 
3,000 under 4,000... 
4,000 uuder 5,000... 

5,000 and over 

Classes grouped 3.. 



Total. 



268, 732 

28,411 

206, 423 

31S, 340 

416, 939 

238, 991 

703, 157 

212, 909 

362, 777 

522, 193 

19, 931 

346, 312 

746 

181, 902 

117,026 

77, 157 

53, 822 

40, 518 

31,316 

25, 034 

20,496 

16, 909 

14, 551 

45, 967 

24, 173 

14, 505 

16, 140 

8,303 

4,S77 

3.090 

2,026 

1,363 

962 

2,269 

777 

375 

206 

207 

105 

106 

56 

29 

5 

12 

1 

1 

1 



$1SS 


200 


14 


200 


1,643 


348 


1,948 


933 


948 


364 


528 


907 


1,908 


884 


594 


707 


1,196 


522 


1,819 


821 


85 


093 


1, 545 


527 


3 


998 


994 


022 


756 


486 


576 


128 


455 


955 


383 


980 


328 


135 


287 


416 


255 


899 


227 


960 


210 


821 


791 


103 


538 


181 


396 


275 


554 


351 


368 


804 


266 


408 


200 


164 


151 


287 


115 


370 


91 


029 


272 


263 


132 


515 


83 


768 


56 


439 


71 


168 


46 


309 


64 


942 


49 


456 


35 


308 


8 


505 


27 


008 



(3) 
(') 
(3) 

14, 593, 



502 
392 
963 
783 
089 
655 
794 
425 
162 
682 
168 
992 
068 
963 
367 
093 
415 
129 
612 
944 
065 
724 
094 
344 
228 
302 
765 
418 
387 
912 
888 
236 
406 
938 
537 
779 
601 
098 
110 
279 
822 
888 
227 
333 



584 



6, 350, 148 



21, 238, 574, 163 



Nontaxable returns 2. 
Taxable returns 



2, 978, 705 
3, 371, 443 



5,974,411,746 
15, 264, 162, 417 



$428, 842, 

1,111 

2, 377, 977, 

1, 322, 698, 

1, 145, 289 

253, 361 

2, 062, 177, 

366, 858 

1,225.434 

1, 204, 458, 

S3, 191 

876, 271 

3, 752, 
471, 256, 
301, 999, 
198, 266, 
135, 957, 
100, 851 

77, 242, 
62,064 
49, 964 
41, 205, 
35, 428 
110, 49S 
57, 473 
33, 863 
37, 392, 
19, 059 
11. 124, 
7,016 

4, 594 
2, 927 
2, 120, 
4, 960, 
1, 693 

801 
418, 
417, 
220, 
233, 
129, 
64 
10, 
27 
(5) 
(3) 
(3) 
7, 



450 



$400, 269, 

994 

2, 123, 458' 

1, 304, 720, 

1, 030, 040 

240, 605, 

1, 755, 270, 

359, 070 

906, 775, 

1, 120, 003 

49, 946, 

756, 378 

1, 879 
393, 966, 
251, 639, 
163, 556, 
112,703 

S3, 766, 

64, 278, 

51, 528, 

41,644 

34, 268, 

29, 477 

92, 048 

47, 993 

28,383 

31, 409, 

16, 055 

9, 333 

5, 935 

3,888, 

2, 517 
1,811 
4, 243 
1, 447, 

702 
372, 
370, 
198, 
206, 
113 
58, 



$28, 572, 

116, 

254, 518 

17, 978 

115,249 

12, 755, 

306, 906 

7, 

318, 658 

84, 455, 

33,244 

119,892 

1, 873, 

77, 289; 

50, 359, 

34, 709, 

23. 254, 

17, 085, 

12, 964, 

10, 536 

8, 319 

6, 936, 

5,951 

18, 449, 

9, 480, 

5, 479, 

5, 982 

3, 004, 

1,791 

1,081 



410 
309, 

717, 
245, 



550 
73S 
459 
102 
056 
998 
591 
695 
660 
149 
882 
133 
037 
493 
705 
495 
179 
412 
382 
874 
924 
597 
437 
684 
520 
806 
402 
747 
101 
547 
408 
249 
118 



(3) 



925 
567 
132 
952 
866 
666 
867 
699 
800 
2,967 



6,250 



1,200 



13, 120, 718, 116 



11,523,373,656 



1, 597, 344, 460 



7, 326, 664, 265 
5, 794, 053, 851 



6, 267, 641, 030 
5, 255, 732, 626 



1, 059, 023, 235 
538, 321, 225 



For footnote, see p. .118 



118 



STATISTICS OF IlSrCOME 



Table 2. — Individual returns^ with net income, 1937, by net income classes: number 
of returns, net income, personal exemption, credit for dependents, earned income 
credit, tax, average tax and effective tax rate — Continued 



Net income classes 
(Thousands of dollars) 



Under 1 (est.) 2 

Under 1 (est.) 

1 under 2 (est.) 2 

1 under 2 (est.) 

2 under 2.5 (est.) K.. 

2under2.r, (est.) 

2.5 under 3 (est.) «_.. 
2.5 under 3 (est.) 

3 under 4 (est.) 2 

3 under 4 (est.) 

4 under 5 (est.) ' 

4 under 5 (est.) 

5 under 6 2 

Sunder 6 

6 under 7 

7under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 ... 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50under60 , 

60 under 70 

70 under 80 . 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250... . 

250 under 300 

300 under 400 

400 under 500 

500 under 7.50 

750 under 1,000 

1.000 under 1,500 

1,500 under 2,000 

2,000 under 3,000 

3,000 under 4,000 

4,000 under 5,000 

6,000 and over 

Classes grouped ^ 

Total 

Nontaxable returns 2 
Taxable returns 



Earned 
income 
credit 



1, 
115, 
193, 

51, 
52, 

150, 
58, 
94, 

172, 
6, 

137, 

82, 
59, 
43, 
32 
26, 
21, 
18 
16, 
14, 
12 
39 
21, 
12 
14, 
7. 
4, 
2, 
1, 
1, 



459, 926 
203, 492 

895. 457 
020, 253 
562, 890 
032,017 
934, 906 
708, 407 
218, 158 
940. 730 
566, 856 
572,611 
243, 497 
919, 262 
631,647 
186, 145 
728, 695 
450, 872 
703, 909 
723, 792 
077, 516 
056, 423 
553, 464 
968,114 
498, 522 
944,011 
670, 806 
698, 509 
457, 572 
839, 580 
827, 624 
210.418 
8.56, 975 
, 018, 862 
664. 357 
310, 004 
162, 929 
147. 483 
82, 236 
70, 501 
42, 180 
23. 555 
3,700 
8,886 
(3) 
(3) 
(') 
2,000 



1, 480, 899, 749 



425, 881, 690 
1,055,018,059 



Total 



$467. 988 
"i7,'262,'339' 



8, 897, 210 



6, 724, 699 



17, 586, 375 



21,265,846 



18, 259, 734 
17, 405, 994 
16,415,511 
15,931,413 
15,516,081 
14, 932, 796 
14. 312, 300 
13, 843, 087 
13, 206, 581 
12,992,315 
57.637,412 
48, 784, 650 
43, 967, 350 
74, 967, 961 
60, 459, 620 
51, 223, 560 
44, 320, 364 
37, 989, 843 
32, 618, 266 

28. 355, 235 
102, 061, 898 

59, 586, 843 
41,631,306 

29, 841, 702 
39, 987. 997 
27,501,278 
41,094,517 
33,061,340 
24, 554, 677 

6, 095, 842 

19, 736, 871 

(3) 
(3) 
(3) 

11,069,943 



1,141,568,744 



1,141,568,744 



Normal 



$467, 988 
17,' 262,' 339' 
"8,"897,"2i6" 



6, 724, 699 



17, 686, 375 
"2i,'i49,'i83" 



17, 485, 858 

15.77.5.101 

13, 297, 752 

11,402.627 

10, 190, 799 

9, 097, 964 

8, 205, 882 

7, 530. 418 

6, 855, 691 

6, 463, 067 

25, 427, 443 

18, 227, 289 

13, 870, 127 

19, 926, 457 

13, 609, 993 

9,991,583 

7,561-, 211 

6, 7.53, 185 

4, 422, 981 

3, .503, 175 

10,551,310 

5.178.743 

3.299,175 

2, 227, 661 

2, 814, .582 

1.830.918 

2, 582. 198 

1, 969, 743 

1,407,511 

339, 547 

1, 078, 845 

(3) 

(3) 

(5) 

583, 365 



334, 549, 995 



334, 549, 995 



Surtax 



$116, 663 



773, 876 
1,630,893 
3,117,759 

4, 528, 786 
5, 325, 282 
6, 834, 832 
6. 106. 418 
6, 312, 669 
6, 3.50, 890 
6. 529, 248 

32. 209, 969 

30, 557, 361 
30, 097, 223 
55, 041, .504 
46. 849, 627 
41.231,977 
36. 759, 153 
32, 236. 6,58 
28. 195, 285 

24, 852. 060 
91, 510. ,588 
54,408.100 
38, 332, 131 
27,614,041 
37,173.415 

25, 670, 360 
38. 512, 319 

31, 091,. 597 
23, 147, 166 

5, 756, 295 
18, 658, 026 

m 

(3) 

m 

10, 486, 578 



807, 018, 749 



807, 018, 749 



Average 



Total tax 



$16. 47 



13.09 



37.23 



31.58 



33.68 



61.41 



100. 38 

148. 74 

212.75 

296. 00 

382. 94 

476. 84 

571.71 

675. 40 

781.04 

892. 88 

1, 2,53. 89 

2,018.15 

3,031.19 

4, 644. 86 

7, 281. 66 

10, 503. 09 

14, 343. 16 

18,751.16 

23,931.23 

29, 475. 30 

44, 981. 00 

76, 688. 34 

111,016.82 

144, 862. 63 

193, 178. 73 

261,916.93 

387, 684. 12 

590,381.07 

846, 713. 00 

1.219,168.40 

1, 644, 739. 25 

(3) 
(3) 
(3) 

3,689,981.00 



179. 77 



338.60 



Effective 
tax rate 
(percent) 



3.30 

".'89 



1.68 



1.13 
".'97 



1.38 



1.84 

2.30 

2.85 

3.49 

4.04 

4.55 

4.98 

5.41 

5.79 

6.16 

7.29 

9.06 

11.10 

13.52 

16.39 

19.23 

22.14 

25.11 

28.27 

31.16 

37.49 

44.97 

49.70 

52.87 

56.19 

59. 39 

63.28 

66. 85 

69.54 

71.67 

73.08 

(3) 
(•3) 
(3) 

75.85 



5.37 



7.48 



' Includes 36,068 taxable returns. Form 1041, which correspond to taxable returns, Form 1040, for estates 
and trusts filed for prior years, and 8,463 taxable returns and 3,784 nontaxable returns for estates and trusts 
filed on Form 1040 which should have been filed on Form 1041. 

■ Nontaxable returns. Specific exemptions exceed net income. A negligible number of nontaxable 
returns in net income classes of $6,000 and over, is not tabulated separately. 

3 Classes grouped to conceal identity of taxpayer. 



STATISTICS OF INCOME 



119 



Table 3. — Individual returns i with net income, 1937, by net income classes: simple 
and cumulative distribution of number of returns, net income and tax and 
percentages 

[Net income classes and money figures in thousands of dollars] 

[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1—7] 





Returns 


Net income classes 


Simple distribution 


Cumulative distri- 
bution from high- 
est income class 


Cumulative distri- 
bution from lowest 
income class 




Number 


Percent 
of total 


Number 


Percent 
of total 


Number 


Percent 
of total 


Under 1 (est.) 


297, 143 

2, 524, 763 

655, 930 

916, 066 

884, 970 

366, 243 

182, 648 

117,026 

77, 157 

53, 822 

40, 518 

- 31,316 

25, 034 

20, 496 

16, 909 

14, 551 

45. 967 

24, 173 

14.505 

16, 140 

8,303 

4,877 

3,090 

2,026 

1,363 

962 

2, 269 

777 

375 

206 

207 

105 

106 

56 

29 

5 

12 
1 
1 
1 


4.68 

39.76 

10.33 

14.42 

13.94 

5.77 

2.87 

1.84 

1.22 

.85 

.64 

.49 

.39 

.32 

.27 

.23 

.72 

.38 

.23 

.26 

.13 

.08 

.05 

.03 

.02 

.01 

.04 

.01 

.01 

(2) 

(') 

C-) 

(2) 

(2) 

(2) 

(2) 
(2) 

(2) 
(2) 
(2) 


6, 350, 148 

6, 053, 005 

3, 528, 242 

2,872,312 

1, 956, 246 

1, 071, 276 

705, 033 

522, 385 

405, 359 

328, 202 

274, 380 

233, 862 

202, 546 

177, 512 

157, 016 

110.107 

125, 556 

79, 589 

55. 416 

40,911 

24, 771 

16, 468 

11,591 

8,501 

6,475 

5. 112 

4. 150 

1.881 

1,104 

729 

523 

316 

211 

105 

49 

20 

15 

3 

2 

1 


100. 00 

95.32 

55.56 

45.23 

30.81 

16.87 

11. 10 

8.23 

6.39 

5.17 

4.32 

3.68 

3.19 

2.80 

2.48 

2.21 

1.98 

1.26 

.88 

.65 

.39 

.26 

.18 

.13 

.10 

.08 

.07 

.03 

.02 

.01 

.01 

(2) 

(2) 

(2) 

(2) 
(2) 
(2) 
(2) 
(2) 
(2) 


297, 143 
2, 821, 906 
3, 477, 836 
4, 393, 902 
5, 278, 872 
5,645,115 
5, 827, 763 

5, 944, 789 
6.021,946 
6, 075, 768 
6, 116, 286 
6, 147, 602 
6, 172, 636 
6, 193, 132 
6,210,041 

6, 224, 592 
6, 270, 559 
6, 294, 732 
6, 309, 237 
6, 325, 377 
6, 333, 680 
6, 338, 557 
6, 341, 647 
6, 343, 673 
6, 345, 036 
6, 345, 998 

6. 348, 267 
6, 349, 044 
6,349,419 
6, 349, 625 
6, 349, 832 

6. 349, 937 

6. 350, 043 
6. 350, 099 
6. 350. 128 
6. 3.50, 133 
6, 350, 145 
6,350,146 
0. 350, 147 
6, 350, 148 


4.68 


1 under 2 (est.) - 


44.44 


2 under 2.5 (est.) __- 


54.77 


2 5 under 3 (est.)- --- 


69.19 


3 under 4 (est.) -- 


83.13 




88.90 




91.77 


6 under 7 . . 


93.61 


7 under 8 --. 


94.83 


8 under 9. 

9 under 10 . .. 


95.68 
96.32 


10 under 11 


96.81 


11 under 12 


97.20 


12 under 13 


97.52 


13 under 14 _ 


97.79 


14 under 15 . _ 


98.02 


15under20 _- 


98.74 


20under25 . 


99.12 


25 under 30 . 


99.35 


sounder 40 . 


99.61 


40under50 


99.74 


50under60 . 


99.82 


60under70 _ 


99.87 


70 under 80 


99.90 


80 under 90 


99.92 


90 under 100 


99.93 


100 under 150 


99.97 


150 under 200 - .. .. 


99.98 


200 under 2.TO .. ... 


99.99 


250 under 300- 


99.99 


300 imdor 400 


99.99 


400 under 500 

500 under 750 


99.99 
99.99 


750 under 1,000 


99.99 


1,000 under 1,500 


99.99 


1,500 under 2,000 


99.99 


2.000 under 3,000 


99.99 


3,000 under 4,000 


99.99 


4,000 under 5,000.. . . 


99.99 


5,000 and over . .. 


100. 00 




















Total 


6, 350, 148 


100. 00 





















For footnotes, see p. 121, 



120 



STATISTICS OF INCOME 



Table 3. — Individua returns ' with net income, 1937, by net income classes: simple 
and cumulative distribution of number of returns, net income and tax and 
percentages — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



Under 1 (est.)-.- 

1 under 2 (est.)--- 

2 under 2.5 (est.), 
2.5 under 3 (est.). 

3 under 4 (est.).,. 

4 under 5 (est.)-.. 

5 under 6 

6under 7 

7 under 8 

Sunder 9 

9 under 10 

10 under ll..._._ 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500. . . . 

500 under 750 

750 under 1,000... 
1,000 under 1.500. 
1,500 under 2,000. 
2,000 under 3,000. 
3,000 under 4,000. 
4,000 under 5.000. 

5,000 and over 

Classes grouped ' 

Total 



Net income 



Simple distribution 



202, 401 
3, 592, 283 

1, 477, 272 

2, 503, ,592 

3, 016, 344 
1, 630, 621 

998, 021 

756, 486 

576, 128 

455, 955 

383, 980 

328, 136 

287, 417 

255, 899 

227, 961 

210, 821 

791, 103 

,, "^8, 181 

. 396,275 

554, 352 

368, 804 

266, 408 

200, 165 

151, 288 

115,370 

91, 029 

272, 264 

132, 516 

83, 769 

56, 440 

71, 168 

46, 309 

64,942 

49, 457 

35,309 

8, 505 

27, 008 

(3) 
{') 
14, 594 



21, 2,'?8, 574 



Percent 
of tot^l 



0.95 

16.91 

6.96 

11.79 

14.20 

7.68 

4.70 

3.56 

2.71 

2. 15 

1.81 

1.55 

1,35 

1.21 

1.07 

.99 

3.72 

2.53 

1.87 

2.61 

1.74 

1.25 

.94 

.71 

.54 

.43 

1.28 

.62 

.39 

.27 

.34 

.22 

.31 

.23 

.17 

.04 

.13 

(3) 
(3) 
(3) 

.07 



100. 00 



Cumulative distri- 
bution from high- 
est income class 



Amount 



21, 238, 574 

21, 0.36, 173 

17, 443, 891 

15, 966, 619 

13,463,027 

10, 446, 683 

8,816,062 

7, 818, 041 

7, 061, 554 

6, 485, 426 

6, 029, 471 

5, 645, 491 

5,317,355 

5, 029, 938 

4, 774, 039 

4, 546, 078 

4, 335, 257 

3, 544, 154 

3, 005, 973 

2, 609, 697 

2, 055, 345 

1, 686, 541 

1, 420, 133 

1,219,968 

1, 068, 680 

953. 310 

862, 280 

590, 016 

457, 501 

373, 732 

317, 292 

246, 124 

199,815 

134, 873 

85,416 

50, 107 

41, 602 

(') 

(3) 

(3) 

14,694 



Percent 
of total 



100. 00 

99.05 

82.14 

75.18 

63.39 

49.19 

41.51 

36.81 

33.25 

30.54 

28.39 

26.58 

25.03 

23.68 

22.47 

21.40 

20.41 

16.69 

14.16 

12.29 

9.68 

7.94 

6.69 

5.75 

5.04 

4.50 

4.07 

2.79 

2.17 

1.78 

1.51 

1.17 

.95 

.64 

.41 

.24 

.20 

(3) 

(3) 

(3) 

.07 



Cumulative distribu- 
tion from lowest 
income class 



Amount 



202, 401 
3, 794, 684 
5,271,955 
7, 775, 548 
10,791,891 
12,422,513 

13, 420, 534 

14, 177, 020 

14, 753, 148 

15, 209, 104 

15, 593, 084 
15,921,219 

16, 208, 636 
16, 464, 535 
16, 692, 496 
16,90.3,317 
17,694,420 
18, 232, 602 

18, 628, 877 

19, 183, 229 

19, 552, 033 
19,818,442 

20, 018, 606 
20,169,894 
20, 285, 265 
20, 376, 294 
20, 648, 558 
20, 781, 073 

20, 864, 842 
20, 921, 282 
20, 992, 450 

21, 038, 7,59 
21, 103, 701 
21, 153, 158 
21, 188, 467 
21, 196, 972 
21,223,981 

(3) 

(2) 

(3) 

21, 238, 574 



Percent 
of total 



0.95 
17.86 
24.82 
36.61 
50.81 
58.49 
63.19 
66.75 
69. 46 
71.61 
73.42 
74.97 
76.32 
77.53 
78.60 
79.59 
83.31 
85.84 
87.71 
90.32 
92.06 
93.31 
94.25 
94.96 
95.50 
95.93 
97.21 
97.83 
98.22 
98.49 
98.83 
99.05 
99.36 
99.59 
99.76 
99.80 
99.93 

(3) 
(n 

100.00 



For footnotes, see p. 121. 



STATISTICS OF INCOME 



121 



Table 3. — Individual returns i with net income, 19S7, by net income classes: simple 
and cumulative distribution of number of returns, net income and tax and 
percentages — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



Tax 



Simple distribution 



Amount 



Percent 
of total 



Cumulative distri- 
bution from high- 
est income class 



Amount 



Percent 
of total 



Cumulative distribu- 
tion from lowest 
income class 



Amount 



Percent 
of total 



Under 1 (est.) 

I under 2 (est.) 

2 under 2.5 (e^t.).. 
2.5 under 3 (est.).. 

3 under 4 (est.) 

4 under 5 (est.) 

5 under 6 

6under 7 

7under 8 

Sunder 9 

9 under 10 

10 under 11 

II under 12_ 

12 under 13_ 

13 under 14 :. 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

sounder 60 

60 under 70. 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000. _.. 
1,000 under 1,500.. 
1,500 under 2,000.. 
2,000 under 3,000. . 
3,000 under 4.000- . 
4,000 under 5,000.. 

5,000 and over 

Classes grouped 3. 



17, 262 
8,897 
6,725 

17,586 
21, 266 

18, 260 
17, 406 
16, 416 
15,931 
15, 516 
14, 933 
14.312 
13, 843 
13,207 
12, 992 
57, 637 
48, 785 
43, 967 
74,968 
60, 460 
51, 224 
44, 320 
37, 990 
32, 618 
28, 355 

102, 062 
59, 587 
41,631 
29, 842 
39, 988 
27, 501 
41,095 
33, 061 
24, 555 
6,096 

19, 737 
(2) 

(3) 
(3> 

11,070 



0.04 
1.51 
.78 
.59 
1.54 
1.86 
1.60 
1.52 
1.44 
1.40 
1.36 
1.31 
1.25 
1.21 
1.16 
1.14 
5.05 
4.27 
3.85 
6.57 
5.30 
4.49 
3.88 
3.33 
2.86 
2.48 
8.94 
5.22 
3.65 
2.61 
3.50 
2.41 
3.60 
2.90 
2.15 
.53 
1.73 
(3) 

(?) 



1, 141, 569 

1, 141, 101 

1,123,838 

1,114,941 

1, 108, 217 

1, 090, 630 

1, 069, 364 

1,051,105 

1,033,699 

1, 017, 283 

1,001,352 

985, 836 

970, 903 

956, 590 

942, 747 

929, 541 

916, 548 

85P.911 

81U'.. ■ 

766, , 

691, h 1 

630, 731 

579, 508 

535, 188 

497, 198 

464, 579 

436, 224 

334, 162 

274, 575 

232, 944 

203, 102 

163, 114 

135, 613 

94, 519 

61,457 

36, 903 

30, 807 

(3) 

(3) 

(?) 

11,070 



Total 1,141,569 



100. 00 



100. 00 
99.96 
98.45 
97.67 
97.08 
95. .54 
93.67 
92.07 
90.55 
89.11 
87.72 
86.36 
85.05 
83.80 
82.59 
81.43 
80.29 
75.24 
70. 97 
■ 67.12 
60.55 
- 55.25 
50.76 
46.88 
43.55 
40.69 
38.21 
29.27 
24.05 
20.40 
17.79 
14.29 
11.88 
8.28 
5.38 
3.23 
2.70 
(') 
(') 
(5) 
.97 



17, 730 

26, 628 

33, 352 

50, 939 

72, 204 

90,464 

107, 870 

124, 286 

140, 217 

155, 733 

170, 666 

184, 978 

198, 821 

212,028 

225, 020 

282, 658 

331,442 

375, 410 

450, 378 

510, 837 

562, 061 

606, 381 

644,371 

676, 989 

705, 345 

807, 406 

866, 993 

908, 625 

938, 466 

978, 454 

1, 005, 956 

1, 047, 050 

1,080,111 

1, 104, 666 

1,110,762 

1, 130, 499 

(3) 

(3) 

(3) 

1, 141, 569 



0.04 

1.55 

2.33 

2.92 

4.46 

6.33 

7.92 

9.45 

10.89 

12.28 

13.64 

14.95 

16.20 

17.42 

18.57 

19.71 

24.76 

29.03 

32.89 

39.45 

44.75 

49.24 

53.12 

56.45 

59.30 

61.79 

70.73 

75.95 

79.59 

82.21 

85.71 

88.12 

91.72 

94.62 

96.77 

97.30 

99.03 

(5) 

(3) 

(3) 

100. 00 



' Includes 36,068 taxable returns, Form 1041, which correspond to taxable returns, Form 1040, for estates 
and trusts filed for prior years, and 8,463 taxable returns and 3,784 nontaxable returns for estates and trusts 
filed on Form 1040 which should have been filed on Form 1041. 

'' Less than one-hundredth of 1 percent. 

s Classes grouped to conceal identity of taxpayer. 



122 



STATISTICS OF INCOME 



Table 4. — Individual returns i with net income, 1937, by States and Territories 
and by sex and family relationship: number of returns and net income 

[Money figures in thousands of dollars] 
[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1—7] 



States and Terri- 
tories 



Alabama 

Arizona 

Arlcansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa -. 

Kansas 

Kentucky 

Louisiana 

Maine 

Maryland 

Massachusetts 

Michigan 

Minnesota 

Mississippi 

Missouri 

M on tana 

Nebraska 

Nevada 

New Hampshire 

New Jersey 

New Mexico 

New York 

North Carolina 

North Dakota 

Ohio 

Oklahoma... 

Oregon 

Pennsylvania 

Rhode Island... 

South Carolina 

South Dakota 

Tennessee 

Texas 

Utah 

Vermont 

Virginia 

Washington '.. 

West Virginia 

Wisconsin 

Wyoming 

Total 



Joint returns of hus- 
bands, wives, and 
dependent chil- 
dren, and returns 
of either husband 
or wife where no 
other return is 
filed 



Number 
of returns 



19, 982 

9,616 

10, 939 

193, 983 

22, 013 
48, 600 

6,971 
41, 087 

28, 288 
30, 603 

8,625 

6,674 

219, 784 

60, 735 

37, 970 

29, 578 

23, 774 
22. 881 
12, 188 
63, 373 

122,689 

127, 898 

46,216 

10, 097 

67, 200 

13,017 

21, 293 

3,697 

8,897 

133, 665 

6.451 

464,016 

25. 242 

6,439 

168, 486 

32, 563 

23, 805 

261,985 

15, 723 

12,213 

5,998 

28, 269 

87, 816 

10, 975 

5,566 

36,415 

39, 413 

27, 065 

66, 036 

6.013 



2, 782, 822 



Net in- 
come 



Number 
of returns 



77, 403 

29, 460 
41,880 

632, 835 
83, 802 
198, 222 

30, 786 
161,543 
121,712 
120,635 

33, 663 

20, 847 

928, 277 

224, 713 

120, 549 

97, 648 

91,445 

73, 715 

46,311 

254, 360 

465, 980 

508, 120 

167,922 

35,110 

259, 994 

45, 099 

75, 026 

12,401 

32, 374 

528, 793 

19,908 

1,825,244 

97, 503 

18,675 

657, 233 

115,419 

85, 506 

993, 618 

64, 361 

43, 458 

17,730 

112,753 

281,432 

37, 038 

20,919 

139,214 

125,267 

96, 627 

212.422 

20, 825 



10, 505, 776 



Separate returns of husbands and wives 



Men 2 



802 

874 

382 

17,113 

1,106 

3,545 

665 

2,692 

1,929 

1,527 

612 

687 

11, 504 

2, 072 

1,379 

1,080 

1,237 

2,597 

727 

3,504 

9,936 

4,972 

2,217 

394 

3,202 

342 

671 

278 

565 

6,585 

696 

27, 274 

1,417 

160 

6.408 

1,633 

911 

10, 823 

1,020 

476 

152 

1,171 

11,272 

352 

256 

1,589 

3,928 

881 

3,201 

165 



Net in- 
come 



9.795 

3,212 

3, 866 

78, 201 

16, 090 

63, 169 

31, 685 

23, 755 

31, 688 

20, 255 

8,083 

2,194 

191,817 

33, 089 

12,895 

11,477 

15, 207 
8,961 

11,108 

41,592 
123, 580 

89, 072 

30, 649 
4,183 

54, 278 
2, 830 
7,534 
2, 723 
6, 806 

96, 723 

2,269 

501,878 

21,889 

1, 160 

112,761 

19, 779 

8,898 

169, 838 

16, 871 
5, 459 
1,2.32 

1.5,810 

38. 366 

4,192 

2,730 

21,2.32 

14,246 

• 11,219 

36, 431 

2,131 



2,044,910 



Women ^ 



771 

856 

404 

18,117 

1,065 

3,649 

680 

2,847 

2,109 

1,.347 

667 

669 

10,671 

2,102 

1,276 

977 

1,291 

2,626 

752 

3,647 

9,701 

4,131 

2,049 

468 

2,962 

387 

639 

304 

558 

7,353 

713 

27. 514 

1,499 

175 

6.159 

1, 625 

856 

10, 274 

956 

540 

146 

1.020 

11,594 

338 

244 

1,397 

3,924 

964 

3,123 

166 



Net in- 
come 



4,019 
2,995 
2,103 
72, 788 
6,745 
31, 271 
11,521 
11,710 
17, 255 
8, 135 
3,138 
2,103 

68. 246 
12, 996 

5,586 

4,350 

5.970 

8, 938 

4,266 

19,934 

54,852 

31,942 

11,859 

2,212 

19, 151 

1,323 

2,810 

1,312 

3,592 

47, 381 

2,103 

213.897 

8, 671 

495 

45. 273 

9,039 

3, .591 

69, 645 
8. 646 
2,020 

475 
5.929 

38. 843 
1,791 
1,551 

11.233 

13,445 
4.464 

12.344 
622 



158,302 934,579 444,386 



Heads of families 



Single men and 
married men not 
living with wives 



Number 
of returns 



2,710 

977 

1,279 

27,114 

3,256 

10, 986 

964 

4,333 

2,893 

3,671 

1,085 

■ 767 

37, 668 

11,051 

4.014 

2,740 

4,537 

4,031 

2,108 

8,094 

24, 436 

22, 804 

7,866 

1, 253 
11,556 

2. .586 
2.306 

343 

1,440 

26, 349 

649 

86. 444 

3,206 

649 

30, 469 

3.309 

3.252 

36. 623 

4.208 

1,604 

738 

4,133 

8, 058 

1,424 

1,090 

4,867 

4.433 

4, 938 

8,301 

774 



Net in- 
come 



7,711 
2,354 
4,121 

71, 289 
9,389 

26, 759 

4, 513 
14,157 

9,826 

11,705 

3,082 

1,765 

110,0.33 

28, 242 

9, 985 

6,927 

11,991 

9,942 

5, 235 
24, 408 
64, 220 
58, 709 
21,663 

3,494 

30,911 

5, 885 

6,298 

1.089 

3, 624 

68, 729 

1, 725 

243, 485 

11,603 

1,715 

77, 901 

10,471 

7,579 

102, 633 

10, 201 

4,715 

1,616 

12,467 

21,940 

3,684 

2,623 

13.225 

10. 143 

1 2. 065 

21,602 

2,300 



For footnotes, see p. 124. 



STATISTICS OF INCOME 



123 



Table 4. — Individual returns^ with net income, 1937, by States and Territories 
and by sex and family relationship: number of returns and net income — Con. 

[ Money figures in thousands of dollars] 



States and Territories 



Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia. 

Florida 

Georgia 

Hawajii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Maine 

Maryland 

Massachusetts 

Michigan 

Minnesota 

Mississippi 

Missouri 

Montana 

Nebraska 

Nevada 

New Ilampshire 

New Jersey 

New Mexico 

New York . . .'_ 

North Carolina 

North Dakota 

Ohio 

Oklahoma 

Oregon 

Pennsylvania 

R hode Island 

South Carolina 

South Dakota 

Tennessee 

Texas 

Utah 

Vermont 

Virginia 

Washington ' 

West Virginia 

Wisconsin 

Wyoming 



Heads of families- 
Continued 



Single women and 
married women 
not living with 
husbands 



Number 
of returns 



Total. 



1,186 

379 

530 

17,217 

1,240 

4,883 

.S23 

6.209 

1, .511 

1,910 

343 

340 

16, 556 

3,029 

1,786 

1,293 

2,095 

2,458 

772 

4,052 

12, 603 

5, 928 

3,169 

530 

6,156 

834 

1,174 

149 

681 ' 

11,959 

307 

50. 273 

1,196 

286 

10,162 

2,223 

1,489 

15, 200 

1,860 

766 

228 

1,787 

5. 511 

458 

603 

2,671 

2,286 

1.271 

3,248 

170 



Net in- 
come 



213.490 



2,958 

1,145 

1,427 

44, 725 

3,427 

13, 780 

2,623 

14,174 

5,437 

5,109 

1,351 

721 

40, 974 

7,070 

3,495 

2,619 

4,668 

5,656 

2, 233 

10, 663 

28. 949 

14.712 

6,971 

1,337 

13, 290 

1,580 

2,258 

542 

1,719 

29, 289 

766 

125,465 

3,854 

549 

23, 798 

4,814 

2,823 

41,444 

4. 755 

1,881 

401 

4,169 

14,946 

1,0.39 

1,229 

6,814 

5, 124 

3,106 

6,898 

551 



529, 327 



Not heads of families 



Single men and mar- 
ried men not living 
with wives 



Number 
of returns 



9,875 

5,178 

2,838 

133, 468 

11, 188 

44. 374 
3,735 

21, 476 

9,137 

10, 155 

3,977 

4,483 

135, 802 

39, 274 

15, 528 

10, 605 

11, 656 

9,878 

6,577 

31, 275 

68,011 

108, 773 

30,543 

3,148 

33. 375 
10, 713 

8,107 

3,136 

5,202 

66, 966 

2,606 

228,911 

9,011 

2,448 

110, 871 

7,842 

15, 124 

165, 162 

11,866 

4,585 

2,547 

13, 801 

36, 565 

4,465 

3,591 

15, 662 

33, 872 

19,278 

47, 080 

4,103 



1,597.843 



Net in- 
come 



18, 484 
9,928 
6,440 
258, 130 
21, 433 
81, 257 
9,834 
43, 607 
23, 631 
22, 723 
8,369 
7,652 
286, 585 
67, 983 
25, 836 
18, 869 
24, 406 
21,517 
12, 906 
61, 714 
148, 351 
203, 190 
52,044 
5,888 
66, 174 
18, 477 
15,593 
6,668 
9.373 
128. 588 
5,722 
488, 060 
17, 481 
3,881 
194, 184 
17, 976 
24, 497 
321, 668 
24, 351 
7,941 
4,126 
27, 301 
82, 556 
7,728 
6,351 
33, 626 
56, 449 
34, 133 
76, 312 
7,153 



Single women and 
married women 
not living with hus- 
bands 



Number 
of returns 



3, 127, 141 



4,318 
1,828 
2, 001 

72, 828 
5,113 

27, 822 
2,787 

31, 603 
6,061 
7,164 
1,947 
1,373 

68, 784 
13,416 
9,839 
6,615 
6,211 
5,760 
4,636 
18,560 
63, 185 

32, 262 
14, 566 

1,856 

19,886 

2,495 

6,117 

566 

3.927 

42, 295 

1,405 

176, 187 

6,721 

1,206 

49, 127 
5.720 
6,121 

71, 846 
7,039 
2. 925 
1,400 
8. 054 

18, 741 
1,733 
2.404 
8,639 

11,464 
4,607 

19, 834 
784 



891, 778 



Net in- 
come 



8,447 
3,434 
3,826 
159, 157 
12,867 
62, 437 
7,948 
58, 634 
20, 870 
14, 565 
6,120 
2,275 
150.310 
24, 731 
15,889 
11, 268 
13, 035 
11,869 
11,729 
40,354 
144, 234 
64, 926 
25. 314 
3,417 
41,210 
4.105 
9,892 
1,590 
9,477 
88,512 
2,689 
408, 210 
12.747 
1,713 
98, 261 
10, 701 
10.218 
169, 529 
18, 720 
4,733 
2,107 
14,705 
41, 768 
3,314 
4,817 
18.362 
20, 659 
10,486 
33, 254 
1,402 



1, 920, 838 



For footnotes, see p. 124. 



186585—40- 



124 



STATISTICS OF INCOME 



Table 4. — Individual returns ^ with net income, 1937, by States and Territories 
and by sex and family relationship: number of returns and net income — Con. 

[ Money figures in thousands of dollars ] 



States and Territories 


Community prop- 
erty returns * 


Estates and trusts • 


Grand total 


Number 
of returns 


Net in- 
come 


Number 
of returns 


Net in- 
come 


Number 
of returns 


Net in- 
come 








315 
137 
129 

3,260 
390 

1,504 
511 
411 
489 
391 
138 
68 

4,281 
539 
567 
294 
391 
141 
363 
678 

3,829 

1,718 

934 

77 

1,120 

94 

322 

33 

371 

1,881 

86 

10,009 

353 

45 

2, 395 
408 
244 

4,378 
601 
207 
119 
363 

1,161 
147 
120 
405 
510 
319 
997 
72 


1,310 

294 

392 

16,664 

2,411 

8,089 

5,433 

2,336 

4,212 

1,926 

1,019 

137 

28, 543 

3,091 

2,536 

1.159 

1,338 

650 

1,317 

4,028 

23.657 

14,064 

5,297 

226 

6,808 

283 

867 

43 

1,080 

13, 622 

207 

69, 367 

1,747 

164 

18, 673 

2,325 

923 

24, 321 

3,389 

711 

184 

2.397 

8,519 

829 

426 

1,727 

2,264 

1,571 

4,395 

303 


39, 959 

20. 809 
18. 502 

510. 224 
45. 371 
145. 363 

16, 836 
110.658 

52.417 
56. 768 

17, 394 
15. 683 

505, 050 

132,218 

72, 359 

53. 182 

51,192 

54, 519 

28. 123 

133.183 

314.390 

308. 486 

107, 560 

17, 823 

145, 457 

30. 468 

40, 629 

8.944 

21, 641 
297. 053 

13.596 

1.070.628 

48. 645 

11.408 

384. 077 
55. 323 
51. 802 

576. 291 
43, 273 
23.316 
11,328 
.58, 598 

196, 415 
19. 892 
13. 874 
71. 645 

104, 386 
59, 323 

151.820 
12. 247 


130, 129 




964 


9,610 


62, 432 




64, 054 




27,124 


343, 661 


1,677,450 




156.162 


Connecticut - 






484. 984 








104, 342 


District of Columbia -- 






329,916 


Florida --- 






234, 631 








205, 053 








64, 825 




622 


5,642 


43, 335 




1,804,785 








401,914 








196, 771 








154,317 








168, 059 




4,147 


50. 410 


191,659 




95. 105 








457, 052 








1,053,823 








984. 736 








321, 717 








55, 868 








491,815 








79. 583 








120,277 




438 


5,269 


31. 635 




68, 046 








1,001.637 




683 


7,079 


42. 469 




3, 875. 606 








175. 495 








28, 352 


Ohio 






1,228,085 








190, 524 








144,034 








1. 892, 697 








151, 295 


South Carolina - - 






70.917 








27, 870 








195. 529 




15, 697 


197, 221 


725, 592 


Utah 


59. 614 








40. 647 


Vireinia . .. 






245. 434 




4,556 


48, 089 


295. 685 


Wpst Vireinia 


173. 671 








403, 656 


Wyoming .. . 






35, 287 










Total 


54, 231 


666, 980 


48,315 


297, 272 


6, 350, 148 


21, 238. 574 







1 Includes 36.068 taxable returns. Form 1041, which correspond to taxable returns. Form 1040, for estates 
and trusts filed for prior years, and 8,4a3 taxable returns and 3,784 nontaxable returns for estates and trusts 
filed on Form 1040 which should have been filed on Form 1041. 

» An unequal number of separate returns for husbands and wives results from the use of the sample method 
or returns with not income under .$5,000 as the net income of one spouse may be $5,000 or over and that of the 
other spouse under $5,000 (see discussion of sample p. 3). 

' Includes Alaska. 

* See text p. 9. 



STATISTICS OF INCOME 



125 



Table 5. — Individual returns ^ with net income, 1937, by net income classes and by 
sex and family relationship: number of returns, net income, personal exemption, 
and credit for dependents 

[Net income classes and money figures in thousands of dollars] 

[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-7] 





Joint returns of hasbands, wives, and de- 












pendent children, and returns 


of either 


Separate returns of husbands and 




husband 


or wife when no other return is 




wives 






filed 
















Net income classes 


Number 
of returns 


Net in- 
come 


Personal 
exemp- 
tion 


Credit for 
depend- 
ents 


Men' 




Num- 
ber of 
returns 


Net in- 


Per- 
sonal 


Credit 
for de- 












come 


exemp- 
tion 


pend- 
ents 


Under 1 (est.)2 


73, 803 


44, 770 


181,028 


20, 779 


4,234 


2,493 


4,837 


463 


Under 1 (est.) 


119 


72 


42 


7 


1,881 


1,087 


118 


28 


1 under 2 (est.)^ 


273, 658 


428, 804 


655, 180 


68, 432 


7,018 


10, 077 


10, 517 


1,370 


1 under 2 (est.) 


7,838 


13, 269 


10, 041 


168 


8,382 


13, 588 


6,663 


481 


2 under 2.5 (est.)2--. 


306, 338 


702, 555 


759, 771 


82, 064 


1,779 


3,978 


3,596 


611 


2 under 2.5 (est.)— . 


8,126 


18, 372 


13, 043 


425 


6,902 


15, 538 


7.029 


960 


2.5 under 3 (est.)2..- 


643, 172 


1, 746, 469 


1, 606, 278 


280, 623 


1,412 


3,828 


3,278 


606 


2.5 under 3 (est.).... 


96, 399 


276, 362 


234, 774 


903 


7,750 


21, 326 


8,885 


1,349 


3 under 4 (est.)2 


338, 152 


1,116,061 


845, 690 


298, 585 


687 


2,318 


1,626 


629 


3 under 4 (est.) 


371, 777 


1, 298, 562 


924, 148 


67, 775 


19, 424 


68, 674 


25, 557 


4,415 


4 under 5 (est.)2 


18, 786 


80, 169 


47,229 


31, 454 


78 


331 


186 


117 


4 under 5 (est.) 


250, 611 


1, 117, 715 


624, 339 


102, 941 


18, 960 


85, 137 


26, 482 


5,762 


5 under 6 2 


659 


3,533 


1,673 


1,705 


6 


32 


14 


7 


5 under 6 


124, 969 


682, 439 


311, 463 


65, 371 


7, 635 


41, 994 


14, 441 


2,282 


6under7 


76, 027 


491, 103 


189, 455 


41,314 


7,205 


46, 809 


15, 048 


2,345 


7 nndfir 8 


46, 918 


350, 025 


116,953 


27, 563 


6.327 


47, 370 


13, 641 


2,366 


8 under 9 


30, 678 


259, 748 


76, 468 


17, 594 


5,396 


45, 800 


11,852 


2,093 


9 under 10 


21, 924 


207, 718 


54, 607 


12, 605 


4, 554 


43, 207 


10, 038 


1,788 


10 under 11 


16, 147 
12, 680 

9,868 
7,815 
6,550 
18, 845 
8,530 
4,288 
4,190 
1,748 
833 


169, 147 
145, 568 
123, 228 
105, 332 
94, 883 
323, 158 
189. 383 
116,978 
143, 225 
77, 272 
45, 468 


40, 210 
31, 593 
24, 582 
19, 472 
16,311 
46, 895 
21, 234 
10, 671 
10, 420 
4,340 
2,064 


9,198 
7,344 
5,638 
4,510 
3.807 
10, 888 
5,026 
2, 536 
2,418 
1,003 
503 


4,064 
3,464 
3,065 
2,776 
2,525 
9,173 
5,874 
4,062 
5. 028 
2,858 
1,816 


42,660 
39,828 
38,254 
37, 431 
36, 578 
158, 594 
131, 174 
111,022 
173, 290 
127, 238 
99, 412 


9,138 
7,801 
6,938 
6,303 
5, 795 
21,165 
13, 707 
9.545 
11,838 
6,748 
4.306 


1,678 


U under 12 


1,455 


12 under 13 


1,272 


13 under 14 


1,171 


14 under 15 


1,094 


15 under 20 


4.126 


20 under 25 


2,612 


25 under 30 


1,821 


30 under 40 


2,248 


40 under ."iO 


1,295 


50 under 60 


860 


60 under 70 


503 
292 
167 
88 


32, 456 
21,749 
14,118 
8,324 


1,250 
727 
413 
216 


264 
167 
72 
47 


1,150 
793 
541 
411 


74, 751 
59, 173 
45, 751 
38,912 


2.717 

1,888 

1.263 

989 


539 


70 under 80 


349 


80 undergo 


227 


90 under 100 


179 


100 under 150 


195 


23, 413 


483 


105 


985 


118. 641 


2.343 


400 


150 under 200 


65 


10,854 


160 


37 


309 


52, 985 


736 


125 


200 under 250 


25 


5,500 


61 


18 


156 


34, 761 


373 


51 


250 under 300 _ 


11 


2,979 


27 


7 


76 


20, 825 


181 


24 


300 under 400_ 


10 


3,252 


24 


5 


85 


29, 285 


200 


24 


400 under 500 


8 


3,491 


20 


2 


42 


18, 568 


102 


16 


500 under 750_- 


5 


3,022 


12 


(«) 


46 


28.079 


115 


15 


750 under 1,000 

1,000 under 1,500-... 
1, .500 under 2,n00.... 
2,000 under 3,000 


3 


(') 


(') 




27 


23, 860 


61 


13 


1 


(S) 


(•) 




14 


17. 906 


35 


3 


1 


(5) 


(') 




1 


(') 


(5) 


(') 










7 
1 


15, 900 
(«) 


16 

0) 


(«) 


3,000 under 4,000 










(5) 


4.000 under 5.000 










1 
1 


(«) 

(5) 

16, 445 


(5) 
(5) 

9 




















5,228 


13 




2 












Total 


2, 782. 822 


10, 505, 776 


6, 883, 382 


1, 173, 903 


158, 981 


2, 044, 910 


278, 117 


49, 269 






Nontaxable re- 


















turns ' - 


1, 654, 568 
1, 128, 254 


4, 122, 361 
6, 383, 415 


4,096,848 
2, 786, 534 


783, 641 
390, 262 


15, 214 
143, 767 


23, 058 
2,021,853 


24.054 
254, 064 


3,803 


Taxable returns 


45,467 



For footnotes, see p. 129. 



126 



STATISTICS OF INCOME 



Table 5. — Individual returns ^ with net income, 19S7, by net income classes and by 
sex and family relalionship: number of returns, net income, personal exemption, 
and credit for dependents — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



Separate returns of husbands and 
wives— C ontinued 



Women ' 



Number 
of re- 
turns 



Net in- 
come 



Personal 
exemp- 
tion 



Credit 
for de- 
pendents 



Heads of families 



Single men and married men not living 
with wives 



Number 
of re- 
turns 



Net in- 
come 



Personal 
exemp- 
tion 



Credit 
for de- 
pendents 



Under 1 (est.)^-- - 

Under 1 (est.) 

1 under 2 (est.)2... 

1 under 2 (est.)... 

2 under 2.5 (est.)2. 

2 under 2.5 (est.).. 
2.5 under 3 (est.)2. 
2.5 under 3 (est.)._ 

3 under 4 (est.)2.._ 

3 under 4 (est.)... 

4 under 5 (est.)2___ 

4 under 5 (est.).._ 

5 under 6 2 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

Sunder 10 

10 under 11 

11 under 12 _. 

12 under 13 

launder 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

sounder 100 

100 under 150 

1.50 under 200.. _ 

200 under 2.50 

2.50 under .300 

300 under 400... 

400 under .500 

500 under 7.50 

750 under 1,000... 
1,000 under l.,500.- 
1.500 under 2,000.- 
2,000 under 3,000.. 
3,00n under 4,000.. 
4,000 under 5,000.. 

5,000 and over 

Classes grouped s. 

Total 



Nontaxable returns 2. 
Taxable returns 



5,886 

19, 621 

8,225 

25, 628 

954 

11,000 

419 

10,412 

257 

21, 355 

27 

18, 747 

7 

5, 700 

4, 315 

3,294 

2.581 

2,161 

1,808 

1,452 

1,262 

1,122 

957 

3,465 

2,017 

1,323 

1,496 

865 

540 

318 

223 

184 

126 

292 

94 

56 

31 

29 

16 

15 

13 

6 

1 

2 



3, 236 
10, 424 
11,058 
38, 617 

2,118 
24, 668 

1, 134 

28, 582 
877 

74, 964 
114 
83, 981 
37 
31,224 
27, 939 
24, 645 
21,907 
20. 486 

15, 953 

16, 668 
1.5, 757 

15. 142 
13,881 
59, 776 
44, 944 
36, 181 
51, 400 
38, 557 

29, 406 
20, 496 

16, 595 
15, 585 
11,922 
3.5, 041 
16, 163 
12, 718 

8,455 
10, 065 

7,089 

9,024 
11,586 

6.937 

(5) 
(5) 



5,577 

487 

11,220 

9,604 

1,894 

6,415 

930 

7,196 

588 

18, 573 

36 

18, 953 

14 

4,823 

4,174 

3,296 

2,663 

2,336 

1,870 

1,572 

1,360 

1, 2.54 
1,077 
4,076 

2, 597 
1,662 
1,968 
1,228 

815 

515 

348 

261 

197 

441 

157 

101 

61 

55 

31 

32 

26 

11 

(3) 
(5) 



375 

71 

1,073 

487 
270 
539 
183 
559 
197 

1,472 
20 

1,820 

497 

464 

414 

332 

321 

263 

221 

193 

179 

152 

570 

361 

236 

300 

180 

122 

75 

55 

38 

36 

62 

25 

14 

4 

8 

1 

4 

1 

3 



9,233 



5,929 



22, 633 



214, 198 

857 

79, 155 

786 

46, 883 

5,401 

19, 658 

21, 566 

889 

14, 444 

56 

8,308 

5,539 

3,633 

2,582 

1,894 

1,379 

1,113 

874 

726 

656 

1.862 

893 

528 

541 

293 

130 

94 

54 

39 

21 

52 

27 

8 

4 

2 

2 

2 

4 



329, 930 

1,480 

176, 189 

1,754 

126, 955 

15,439 

64, 195 

75, 498 

3,831 

64, 460 

297 

45, 328 

35, 788 

27, 155 

21,881 

17, 953 
14,441 
12, 770 
10, 905 

9,786 
9,518 
32, 075 
19, 876 
14,407 

18, 505 
13,034 

7,113 
6,069 
4,037 
3,323 
1,976 
6,141 
4, 548 
1,791 
1,092 
693 
899 
1,202 
3,489 



529, 009 

1,117 

197, 120 

1,213 

117,054 

12,910 

49, 042 

53, 357 

2,194 

35, 835 

137 

20, 650 

13,770 

9.033 

6,413 



4,714 

3,419 

2,763 

2,166 

1,801 

1,627 

4,629 

2,217 

1.314 

1,341 

731 

323 

232 

132 

98 

53 

129 

67 

20 

10 

5 

5 

5 

10 



(5) 



158. 302 



934, 579 



120, 502 



12, 204 



1.211,750 



1, 099, 300 



15, 775 
142. 527 



18, 575 
916, 004 



20, 259 
100, 243 



2, 126 

10. 078 



370, 072 

74. 314 



707, 326 
504. 424 



917.190 
182, 109 



2,214 



54, 404 

58 

22, 534 

75 

20, 863 

117 

16, 279 

4,862 

1,474 

5,836 

139 

3,933 

2,602 

1,755 

1,276 

884 

641 

557 

428 

372 

319 

936 

419 

262 

286 

143 

71 

53 

32 

19 

8 

25 

11 

6 



143, 898 



117,907 
25, 991 



For footnotes, see p. 129. 



STATISTICS OF INCOME 



127 



Table 5. — Individual returns ' with net income, 1937, by net income classes and by 
sex and family relationship: number of returns, net income, personal exemption, 
and credit for dependents^Continued 

[Net income classes and money figures in thousands of dollars] 





Heads of families— Continued 


Not heads of families 


Net income classes 


Single women and married women not 
living with husbands 


Single men and married men not living 
with wives 




Number 

of 
returns 


Net 
income 


Personal 
exemp- 
tion 


Credit for 
depend- 
ents 


Number 

of 
returns 


Net 
income 


Personal 
exemp- 
tion 


Credit for 
depend- 
ents 


Under 1 (est.)2 

Under 1 (est.) 

1 under 2 (est.)2 

1 under 2 (est.) 

2 under 2.5 (est.)2 

2 under 2.5 (est.) 

2.5 under 3 (est.)2 

2.5 under 3 (est.) 

3 under 4 (est.) 2 

3 under 4 (est.) 

4 under 5 (est.)2 

4 under 5 (est.) 

5under62_._ _._ 


7,231 

34 

140, 076 

496 

25, 253 

395 

10, 674 

1, 222 

3,813 

6,492 

103 

4,760 

16 

2,838 

1,966 

1,396 

1,016 

764 

632 

528 

420 

345 

290 

1,029 

505 

346 

371 

157 

97 

69 

39 

19 

17 

43 

18 

7 

2 

4 

2 

4 


4,903 

24 

205, 803 

827 

55, 983 

885 

28, 874 

3,488 

12, 370 

22, 844 

434 

21,244 

88 

15, 526 

12, 710 

10, 442 

8,623 

7,231 

6,617 

6,059 

5.253 

4,653 

4,196 

17, 629 

11,233 

9,465 

12, 707 

6,921 

5,288 

4,457 

2,904 

1,617 

1,612 

5, 057 

3,179 

1,573 

556 

1.278 

(') 

2,570 


17, 657 

21 

345, 997 

586 

62, 855 

598 

26, 639 

2,825 

9, 521 

16, 007 

249 

11,994 

40 

7,008 

4,861 

.3,442 

2,508 

1,887 

1, .559 

1,306 

1,041 

852 

718 

2,543 

1,345 

855 

919 

385 

238 

171 

94 

48 

40 

106 

45 

18 

5 

10 

(") 

10 


1,877 

4 

32, 974 

60 

7,011 

■ 51 

4,190 

36 

2.761 

1,514 

152 

1,716 

15 

1,133 

778 

566 

420 

318 

2.53 

215 

170 

161 

117 

434 

210 

1,52 

166 

62 

46 

38 

20 

9 

7 

29 

5 

2 

3 

2 

0) 
2 


88, 686 

221 

324, 566 

851,098 

2,910 

151,431 

477 

61, 358 

123 

50, 154 

20 

22, 034 


66,452 

133 

384, 375 

1, 267, 245 

6,334 

333, 880 

1,294 

166, 717 

404 

171, 251 

93 

98,232 


88, 920 

63 

330, 347 

855, 082 

3,923 

152, 615 

879 

62, 488 

197 

51, 452 

13 

22,564 


1,548 

3 

60,464 

11, 647 

2,448 

8,462 

380 

3,966 

162 

3,417 

24 

1,405 


5 under 6 


10, 320 

6.788 

4,703 

3,500 

2,717 

2,148 

1,646 

1,483 

1,127 

999 

3,161 

1,711 

1,080 

1,240 

676 

380 

280 

185 

114 

91 

212 

78 

49 

32 

17 

13 

5 

5 

4 

1 


56, 387 

43, 885 

35, 159 

29, 635 

25, 751 

22, 492 

18, 916 

18, 495 

15, 194 

14, 460 

54, 427 

38, 140 

29,547 

42, 548 

30, 112 

20, 824 

18. 101 

13, 851 

9,614 

8,605 

25, 680 

13, 293 

11,036 

8,766 

5,985 

5,755 

3,243 

4,315 

(=) 

(5) 


10, 682 

7,034 

4, 856 

3,609 

2,794 

2.213 

1.698 

1,532 

1,162 

1,021 

3.244 

1,751 

1,106 

1,281 

699 

385 

287 

187 

116 

94 

215 

80 

50 

33 

18 

13 

5 

5 

(») 

(=) 


712 


6 under 7 


530 


7 under 8 . 


313 


8under9--- 


259 


9 under 10 


176 


10 under 11 


132 


11 under 12 


98 


12 under 13 


92 


13 under 14 


88 


14 under 15. ._ 


68 


15 under 20 


244 


20 under 25... 


141 


25 under 30 


82 


30 under 40 


101 


40 under 50 _.. 


53 


50 under 60 


33 


60 under 70 


17 


70 under 80 


16 


80 under 90 


6 


90 under 100 

100 under 1,50 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under ,500 

500 under 7,50.. 


7 
20 
15 
3 
3 
2 
(«) 

1 


750 under 1,000 




1,000 under 1„500 


1 


(») 


(») ■ 


(') 




1,500 under 2,000 




2,000 under 3,000 












3,000 under 4,000 


















4,000 under 5,000 


















5.000 and over 


















Classes grouped ' 




2,204 


8 


2 




6,514 


5 












Total.. 


213,490 


529, 327 


526, 911 


57, 679 


1. 597, 843 


3, 127, 141 


1, 614, 717 


97, 141 






Nontaxable returns 2. 
Taxable returns 


187, 166 
26, 324 


308, 455 
220, 872 


462, 957 
63, 954 


48, 978 
8,701 


416, 782 
1,181,061 


458, 953 
2, 668, 188 


424, 277 
1, 190, 440 


65, 026 
32, 115 



For footnotes, see p. 129. 



128 



STATISTICS OF INCOME 



Table 5. — Individual returns ^ with net income, 1937, hy net income classes and by 
sex and family relationship: number of returns, net income, personal exemption, 
and credit for dependents — Continued 

[ Net income classes and money figures in thousands of dollars ] 





Not heads of families— Continued 


Community property retu 




Net income classes 


Single women and married women not 
living with husbands 


irns * 




Number 

of 
returns 


Net 
income 


Personal 
exemp- 
tion 


Credit for 
depend- 
ents 


Number 

of 
returns 


Net 
income 


Personal 
exemp- 
tion 


Credit for 
depend- 
ents 


Under 1 (est.)^ 

Under 1 (est.) 


76, 126 

422 

238, 483 

411,093 

547 

56, 505 

105 

27,588 

76 

27, 608 

5 

14,039 

2 

7,648 

5,271 

3,826 

2,910 

2,343 

1,907 

1,523 

1,336 

1,043 

951 

3,389 

1,922 

1,232 

1,409 

764 

471 

302 

209 

143 

112 

230 

100 

48 

23 

30 

9 

3 

1 
2 


58, 565 

295 

273, 060 

595, 176 

1,199 
125, 222 
287 
75, 171 
258 
94, 802 
22 
62, 661 
11 
41. 903 
34, 117 
28, 620 
24,660 
22, 233 
19. 982 
17, 471 
16, 67] 
14, 070 
13, 777 
58. 569 
42,900 
33, 755 
48. 538 
33, 894 
25, 668 
19, 638 
1.5. 646 
12, 124 
10, 643 
27, 701 
17, 076 
10, .563 

6,261 
10,371 

3, 8.58 
12,336 

1,785 

3,368 

(') 

(») 


76, 156 

161 

240,968 

410, 964 

878 

56, 638 

195 

27, 803 

99 

27, 963 

7 

14, 119 

2 

7,735 

5,344 

3,861 

2, 950 

2,374 

1,918 

1,531 

1,346 

1,047 

9.59 

3,418 

1,932 

1,240 

1,414 

773 

481 

306 

210 

142 

112 

231 

105 

48 

24 

30 

9 

20 

2 

3 

(5) 
(') 


1,316 
3 

35, 801 

5,077 

312 

2,245 

61 

8.59 

46 

999 

4 

412 

1 

274 

183 

152 

103 

96 

73 

73 

49 

40 

44 

159 

105 

69 

65 

54 

31 

23 

n 

6 
8 
18 
9 
(») 


















lander 2 (est.)> 


















2 under 2.5 (est.)s 

2 under 2.5 (est.) 

2.5 under 3 (est.)2 


























2.5 under 3 (est.) 

3 under 4 (est.)' 




























4 under 5 (est.)' 










4 under 5 (est.) 










5 under 6 ' 










5under6... 


12, 501 

8,483 

6,917 

4,302 

3,411 

2,660 

2,168 

1,735 

1,568 

1,277 

3,849 

2,037 

1.150 

1,342 

671 

384 

244 

155 

89 

55 

150 

47 

12 

9 

8 

5 

2 


68, 359 

54, 881 

44, 170 

36, 413 

32, 300 

27, 860 

24, 851 

21, 680 

21,132 

18, 509 

66, 336 

45, 228 

31,347 

46, 043 

29,800 

20, 939 

15,772 

11,616 

7, 543 

.5, 1.56 

17, 639 

7,774 

2,702 

2,404 

2.816 

2,319 

1,389 


15, 754 
10, 947 
7, 685 
5, 642 
4,470 
3, 543 
2,934 
2,361 
2, 134 

1, 7.57 
5, 316 

2, 865 
1,671 
1,924 

984 

590 

369 

264 

141 

84 

220 

72 

22 

15 

15 

8 

3 


3,087 


6 under 7. 


2,144 


7under8 


1,581 


8 under 9 


1,179 


9 under 10 


897 


10 under 11 


726 


11 under 12 


575 


12 under 13 .. . 


477 


13 under 14... 


415 


14 under 15 . 


350 


15 under 20 .. . 


1,092 


20 under 25 


606 


25 under .30 


322 


30 under 40 

40 under 50 


399 
215 


50 under 60 


126 


60 under 70 


73 


70 under 80 ■ 


56 


80 under 90 


33 


90 under 100 

100 under 1.50 

1.50 under 200 

200 under 2.50 

2.50 under 300 


18 
58 
18 
5 
4 


300 under 400 

400 under .500 


5 


2 
1 


.500 under 7.50 


4 




7.50 under 1.000 




1,000 under 1.. 500 












1.. 500 under 2,000 












2.000 under 3,000 












3,000 under 4.000 












4.000 under 5.000 


















5.000 and over 






















5,911 


3 


























Total. 


891. 778 


1, 920, 838 


895, 522 


48, 793 


54, 231 


666, 980 


71, 788 


14, 457 






Nontaxable returns ' . 


315, 344 
576, 434 


333, 402 
1, 587, 436 


318, 304 
577, 218 


37, 541 
11.252 










Taxable returns 


.54. 231 


666, 980 


71, 788 


14, 457 



For footnotes, see p. 129. 



STATISTICS OF INCOME 



129 



Table 5. — Individual returns ' with net income, 1937, by net income classes and by 
sex and family relationship: number of returns, net income, personal exemption, 
and credit for dependents — Continued 

[ Net income classes and money figures in thousands of dollars ] 



Net income classes 



Under'l (est.) '... - 

Under 1 (est.) 

1 under 2 (est.) »-.. 

1 under 2 (est.) 

2 under 2.5 (est.) '. 

2 under 2.5 (est.) . . 
2.5 under 3 (est.) '. 
2.5 under 3 (est.) - . 

3 under 4 (est.) '... 

3 under 4 (est.) 

4 under 5 (est.) '— 

4 under 5 (est.) 

5under62 ._ 

5 under 6 

Sunder 7 

7 under 8 

8 under 9. 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80. 

sounder 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500.. 
1,500 under 2,000.. 
2,000 under 3,000.. 
35,00 under 4,000.. 
4.000 under 5,000.. 

5,000 and over 

Classes grouped '.. 



Total - 



Nontaxable returns '. 
Taxable returns 



Estates and trusts ' 



Number 

of 
returns 



3,533 

6,113 

199 

12,948 

3 

3,846 

15 

2,779 

11 

3,817 

23 

2,717 



1,983 

1,432 

1,143 

857 

750 

571 

460 

453 

387 

346 

1,194 

684 

496 

523 

271 

226 

130 

76 

67 

41 

110 

39 

14 

18 

22 

8 

7 

2 



48, 315 



3,784 
44, 531 



Net 
income 



1,853 

2,165 

241 

18,731 

6 

8,587 

42 

7,623 

40 

13, 226 

98 

12,097 



10, 862 
9,255 
8,542 
7,288 
7,102 
5,986 
5,284 
5,657 
5,221 
5,019 
20,540 
15, 302 
13, 573 
18, 096 
11,977 
12,291 
8,426 
5, 716 
5,696 
3,878 
12, 950 
6,644 
3,124 
5,101 
7,424 
3,524 
4.076 



Personal 

e.xemp- 

tion 



3,463 

102 

222 

10, 662 

5 

3,053 

18 

2,188 

13 

2,948 

32 

2,093 



1,412 

1,006 

790 

598 

546 

407 

328 

318 

244 

212 

762 

446 

319 

305 

165 

131 

89 

39 

37 

27 

74 

25 

11 

16 

13 

7 

5 

(») 



Grand total 



Number of 
returns 



(') 



4,011 



297, 272 



2,282 
294, 990 



(») 



33, 134 



3,752 
29, 382 



268, 732 

28,411 

1, 206, 423 

1,318,340 

416, 939 

238, 991 

703, 157 

212, 909 

362, 777 

522, 193 

19, 931 

346, 312 

746 

181, 902 

117,026 

77, 157 

53, 822 

40, 518 

31,316 

25, 034 

20, 496 

16,909 

14, 551 

45, 967 

24, 173 

14, 505 

16, 140 

8,303 

4,877 

3,090 

2,026 

1,363 

962 

2,269 

777 

375 

206 

207 

105 

106 

56 

29 

5 

12 

1 

1 

1 



6, 350. 148 



Net 
income 



188,201 

14,200 

1, 643, 349 

1, 948, 934 

948, 364 

528,903 

1, 908, 885 

594, 707 

1, 196, 522 

1, 819, 822 

85, 093 

1, 545, 528 

3,998 

994, 023 

756, 486 

576, 128 

455, 955 

383, 980 

328, 136 

287,417 

255. 899 

227, 961 

210, 821 

791, 103 

5.38, 181 

396, 275 

554, 352 

368, 804 

266, 408 

200, 165 

151,288 

115,370 

91,029 

272,264 

132, 516 

83, 769 

56, 440 

71,168 

46, 309 

64,942 

49, 457 

35, 309 

8,505 

27,008 

(») 

(») 

(5) 

14. 594 



Personal 
exemp- 
tion 



2, 978, 705 
3, 371, 443 



21, 238, 574 



5,974,412 
15, 264, 162 



400, 270 

994 

2, 123, 459 

1, 304, 720 

1, 030, 041 

240, 605 

1, 755, 270 

359, 070 

906, 776 

1, 120, 004 

49, 946 

756, 379 

1,879 

393, 967 

251, 640 

163, 557 

112,703 

83, 767 

64,278 

51,528 

41,644 

34. 269 

29,477 

92. 049 

47, 993 

28, 383 

31,410 

16. 055 

9,333 

5,936 

3,888 

2,518 

1,811 

4,243 

1,447 

703 

372 

370 

199 

207 

114 

58 

10 

24 

(») 

(') 

(») 



Credit for 
depend- 
ents 



11, 523, 374 



6, 267, &41 
5, 255, 733 



28,573 

117 

254,518 

17,978 

115, 249 

12, 756 

306, 907 

7,789 

318, 659 

84,455 

33, 245 

119, 892 

1,873 

77,289 

50, 360 

34, 709 

23,254 

17, 085 

12, 964 

10, 537 

8,320 

6,937 

5,951 

18, 450 

9,481 

5,480 

5,982 

3,005 

1,791 

1,082 

706 

410 

309 

718 

246 

09 

46 

47 

22 

27 

16 

7 

1 

3 



1 



1, 597, 344 



1, 059, 023 
538, 321 



' Includes 36,068 ta.xable returns. Form 1041, which correspond to taxable returns, Form 1040, for estates 
and trusts filed for prior years, and 8,463 taxable returns and 3,784 nontaxable returns for estates and trust' 
filed on Form 1040 which should have been filed on Form 1041. 

' Nontaxable returns. Specific exemptions exceed net income. A negligible number of nontaxable 
returns in net income classes of $6,000 and over is not tabulated separately. 

3 An unequal number of separate returns of husbands and wives results from the use of the sample method 
for returns with net income under $5,000, as the net income of one spouse may be $5,000 or over and that of 
the other spouse under $5,000 (see discussion of sample, p. 3). 

« See text, p. 9. 

» Classes grouped to conceal identity of taxpayer. 

• Less than $500. 



130 



STATISTICS OF INCOME 



Table 6. — Individual income tax returns, ^ with net income, 1937, by States and 
Territories: sources of income and deductions, and net income 

[Thousands of dollars] 

[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-7] 



■States and Territories 



Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

District of Columbia. 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky, : 

Louisiana 

Maine 

Maryland 

Massachusetts 

Michigan 

Minnesota 

Mississippi 

Missouri 

Montana 

Nebraska 

Nevada 

New Hampshire 

New .Tersey 

New Mexico 

New York 

North Carolina 

North Dakota 

Ohio 

Oklahoma 

Oregon 

Pennsylvania.- 

Rhode Island 

South Carolina 

South Dakota 

Tennessee 

Texas 

Utah 

Vermont 

Virginia 

Washington 2 

West Virginia 

Wisconsin 

Wyoming 



Total.- 14,148,510 



Sources of income 



Salaries, 
wages, 

commis- 
sions, 

fees, etc. 



89, 124 

37, 975 

37, 649 

997, 272 

87, 395 

295. 308 

44,315 

261,534 

109, 850 

143.810 

39, 896 

25, 764 

, 268, 317 

287, 625 

119,956 

87, 105 

111,521 

117,918 

50, 535 

314,337 

681,704 

732, 657 

217.326 

3.5,118 

339, 473 

58,219 

80,1.55 

17, .508 

36, 601 

717.459 

24, 082 

, 565, 497 

114,788 

20,115 

878, 515 

122.702 

96, 626 

, 302, 963 

94. 781 

49. 985 

19, .566 

138,486 

408, 582 

43. .532 

26, 120 

172,211 

193,677 

12.5,4,56 

285, 572 

21.825 



Dividends 

from 
domestic 

and 
foreign 
corpora- 
tions ' 



12, 762 
5,799 
6,402 
257, 983 
31,288 
120, 359 
47, 8.50 
27, 376 
61,005 

32, 867 
14, 548 

3,270 

269, 522 

51, 678 

23, 208 

14, 3.39 

27, 642 

26, 422 

19,371 

67, 340 

213,835 

14.5, 684 

45, ,531 

6,615 

88, 242 

.5, 198 

12, 379 

5,421 

15,662 

157.491 

3,503 

787, 434 

39. 654 

1, 7.58 
197, 736 

23, 068 

12. 482 

298, 3,50 

33, 793 
8.632 

2, 445 
26, 891 
8.5.341 

8.138 
6,981 
41,782 
35, 075 
23,917 
.56. 670 
3,555 



3, 514, 293 



Taxable interest 



Bank 
deposits, 
notes, 
mort- 
gages, 
corpo- 
ration 
bonds * 



4.492 
1,763 
2,008 

68,139 
7,813 

21,680 
3,813 

11,469 

11,635 
4,154 
1,140 
1,209 

56. 135 
8.147 
7.440 
5,640 
4.878 
6.843 
8.165 

20. .591 

57, 787 

21,738 

12. 629 
1,687 

18,711 

1,669 

4,213 

903 

4,224 

52, 893 

1,2.54 

230,1.50 

2, 520 

979 

26. 195 
5, 099 
4, 665 

7S. .502 

9.247 

2,104 

8.50 

4.215 

18, 874 
1,.574 
2.183 
6.898 
8, 975 
2.510 

20. 889 
1,056 



862, 349 



Partially 

tax- 
exempt 
Govern- 
ment 
obliga- 
tions ' 



160 

91 

201 

2.646 

655 

773 

86 

700 

747 

303 

83 

19 

3.614 

1,205 

232 

346 

676 

625 

317 

1, 3.53 

1,969 

1,447 

928 

112 

1,648 

76 

201 

82 

146 

1,456 

48 

9,642 

223 

30 

4,809 

1,039 

191 

4,306 

425 

116 

21 

236 

1,717 

72 

85 

601 

330 

476 

624 

64 



47, 955 



Partner- 
ship 
profit » 



13, 308 

4,787 

8,108 

115,534 

10, 052 

13, 793 
2,336 
9,695 

14, 479 

12, 989 

2,064 

3,702 

93, 230 

21,058 

16, 306 

13,045 

11,615 

17,979 

3, 3.54 

18, 6,58 

34, 340 

38, 126 

19,442 

6,965 

23, 971 

4,417 

8, 560 

2,587 

2,506 

29, 916 

4,542 

229,318 

12, 466 

2.001 

46, 972 

16, 2.54 

11.. 516 

84, 342 

4,788 

4,836 

1,429 

12.649 

75, 970 

3, 567 

1,826 

10.329 

14, 381 
7,110 

15, 7.59 
2.326 



1,139,301 



Income 
from fi- 
duciaries' 



2,863 
1,620 
1,170 

52, 462 
3,769 

30,663 

13, 454 
9,605 

18, 393 

4,863 

3,139 

246 

50, 574 
7,707 
3,301 
2,281 
4,685 
2,244 
6,438 

22, 264 

69, 714 

17, 063 

8,344 

689 

14,316 

487 

1,088 

1,467 

3,855 

45, 704 

793 

227, 537 

4,218 

207 

40, 747 
2,430 
1,7.56 

94, 672 

10,717 

1,544 

265 

3.692 

12, 747 
915 
1,374 
8,641 
4,179 
3,178 
6, 1.53 
542 



830, 772 



For footnotes, see p. 132. 



STATISTICS OF INCOME 



131 



Table 6. — Individual income tax returns,'^ with net income, 1937, by States and 
Territories: soiirces of income and deductions, and net income — Continued 

[Thousands of dollars] 



States and Territories 



Sources of income— Continued 



Business 
proflc 



Net 
capital 
gain ' 



Other 
income 



Total 
income 



Deductions 



Partner- 
ship 
loss ' 



Business 
loss 



Net 
capital 
loss ' 



Alabama 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware -- 

District of Columbia. 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Maine 

Maryland 

Massachusetts 

Michigan 

Minnesota 

Mississippi 

Missouri 

Montana 

Nebraska 

Nevada 

New Hampshire 

New Jersey 

New Mexico 

New York 

North Carolina 

North Dakota 

Ohio... 

Oklahoma 

Oregon 

Pennsylvania 

Rhode Island 

South Carolina 

South Dakota..- 

Tennessee 

Texas 

Utah 

Vermont 

Virginia 

Washington ' 

West Virginia 

Wisconsin 

Wyoming 



16, 469 
12, 799 
11,840 

264, 624 
25, 715 
45, 008 
6,022 
27, 104 
34, 263 
23, 958 
7,804 
11,218 

176, 337 
51, 685 
44, 317 
33, 690 
23, 756 

25, 638 
14, 525 
42, 520 

109, 704 
98, 473 
46, 590 

12, 200 
48, 098 

13, 076 
20, 995 

4,466 

10,371 

94, 140 

9, 589 

348, 279 

23, 464 

6,320 

126, 926 

30,811 

26, 296 
207,113 

12,799 
11,423 

5,945 
23, 832 
134, 829 

7,519 

5,349 
26, 340 
48, 219 
19, 668 
53, 999 

7.305 



2,286 
1,495 
1,347 

40, 652 
3,494 

10, 600 
3,389 
4,561 
7,620 
3,476 
1,156 
823 

38, 207 
4,762 
2,472 
3,627 
2,669 
4,604 
2,058 
8,744 

22, 029 

17, 244 
5,948 
626 
8,710 
993 
1,370 
1,086 
1,394 

15, 040 

862 

101, 689 

2,282 

182 

19, 722 
5,990 
2,225 

31, 535 

2,894 

1,157 

246 

2,701 

20, 455 
1,319 

503 
4,073 
5,234 
2,332 
5,664 

568 



1,212 
1,251 
1,643 
24, 262 
2,049 
3,581 
1,392 
3,268 
4,247 
1,840 

758 

857 
16, 441 
5,077 
2,822 
3,551 
2,204 
3,544 
1,264 
4,412 
8,175 
8,138 
4,006 

980 
3,971 
1,377 
1, 705 

556 

788 
10, 158 

757 
30, 229 
2,500 

594 
8,029 
4,418 
1,696 
16, 405 
1,078 
1,054 

401 
1,948 
16, 909 

711 

475 
2,082 
3,354 
1,643 
4,703 

421 



148, 894 

70, 759 

75, 260 

1, 923, 541 

178,563 

554, 117 

124,310 

369, 025 

274, 397 

236, 936 

73, 336 

48, 584 

2, 035, 245 

452, 274 

230, 729 

181, 230 

196, 535 

220, 550 

108, 752 

514,441 

1, 218, 784 

1,110,171 

369, 512 

68, 148 

565, 739 

88, 427 

136, 392 

35, 023 

77. 655 

1,142.836 

47, 725 

4, 603, 053 

211,535 

33,329 

1, 386, 048 

232, 002 

162, 638 

2, 165, 134 

174, 607 

84. 158 

32. 571 

222, 264 

854, 833 

68, 830 

45, 933 

281,513 

323, 531 

193, 086 

461, 987 

39, 158 



137 

171 
147 
3,297 
331 
499 

62 
118 
315 
365 

84 
160 
1,982 
390 
418 
420 
297 
307 

83 
488 
651 
945 
338 
184 
585 
158 
182 

51 

28 
834 

63 

7,427 

145 

44 
944 
630 
193 
1,850 
246 

67 

40 

173 

2,259 

47 

45 
179 
268 
101 
212 

51 



578 

733 

523 

10, 839 

832 

1,476 

755 

807 

1,744 

1.230 

361 

258 

7.736 

1,865 

1,112 

1,561 

1,282 

1,480 

469 

2.125 

2.558 

4,801 

1,241 

513 

2,509 

606 

634 

219 

298 

2,601 

328 

14, 550 

932 

269 

4,387 

2,133 

746 

6,816 

612 

523 

225 

956 

6,292 

213 

237 

1,568 

1,145 

519 

1,292 

454 



1,032 

606 

427 

24, 672 

2,068 

7,801 

1,058 

2,359 

3,659 

2,207 

474 

306 

21, 569 

3,025 

1,715 

1,337 

1,835 

1.722 

1,299 

5,113 

15, 674 

10, 129 

4,243 

422 

5,889 

555 

1,088 

277 

996 

12, 721 

254 

68, 199 

1,573 

243 

12, 063 

1,524 

1,457 

20, 353 

2,094 

645 

230 

1,572 

5,570 

495 

457 

2.348 

2,495 

1,188 

4,905 

251 



Total 2,493,426 



434, 114 



224, 935 



24, 454, 099 



29,011 



97, 940 



264, 192 



For footnotes, see p. 132. 



132 



siAaasncs or ixoome 



1 ■«& net imanme, 1937, h§ 
dedutiiou*, amd mei iacMie— -CoaolJnned 








2,61s 


4.L«Ss 




■ .- ■ 




_y u^ 


CT 


1.326 


. ■ _ 


_ r 


• 


:_ -fei- 


1-450 


l.S» 


I- '---. 


i -" 


1 - .'- ' 


-i ..:4 


aBL§S2 


44.^4 


•>:. ^L^ 


7i- J3 


'.-' '- - 


1 : -s-^- 


iC7 


L'X? 


4vi»H 


i.42 


— ~ . 


- '-^.. -'— 


mas 


ILCSg 


:% >3 


i7. 4. . 


■fir l:ii 


4>i .-'>4 


3;,ac 


4.@S 


L3b6 


€.967 


Ir ':>'> 


-.•i. ;-4- 


£,«« 


111.645 


kl61 


i.4lS 


I'.r . .'r 


;Jr r.: 


4, IS 


ess: 


5.5:5 


- " _^ 


;■- "-.- 


J;-i :•: . 


4.«7 


t^j 


7. £12 






J ■:- :c 


an 


i30 


2.42: 


_ 1 •: 




■i ?_C 


oi 


€75 


:.:» 


I. 11" 


!- '.-T 


ii :-;•: 


aiss 


38. 733 


44. x^ 


ii- n? 


Zl'- i'-T 




7,n8 


7,441 


-S.S2 


... . . r 


:>. ;."r 


-1 r'4 


3;S« 


S.«3 


mas 


li.730 


Si. r>:'? 


:^:.77i 


%877 


a,r.: 


7.151 


IQlOU 


y. r' - 


15.4.317 


aiMB 


s^ce: 


z.m 


5.21? 


2i_ i~- 


:5a. -loa 


xmt 


i,^ 


7.42? 


r H.— 


2i ^'r; 


.r. •■Ti 


*•*» 


X^^ 


3.*:^ 


i : ■ ■ 


1- {4" 


r: . .-: 


S,4» 


ii.:i35 


12.277 


lf-21-' 


f* ;*j 


4-f . .:* 


22.«!S 


s.^ 


5t.S«5 


4a.2Sl 


If-t --^ - 


1 ;•: "J: 


17, 3M 


22.9J4 


2&.-S51 


41.112 


li.: i; ; 


.-'"4 :■: 


€.€» 


5.T2S 


12.75.5 


liss: 


i" "-- 


... . ,. _ 


:-€g5 


l.«35 


2L$3S 


5. OS) 


11. is: 


1.1. srA 


i:l:s^ 


1£.12S 


14. 7K 


l5.??5 


7L rU 


iil^ilS 


*a 


i-19» 


SLCIS 


3.419 


L«44 


~.'JSi 


i ice 


2.5*7 


2.494 


5.:tB 


If. 114 


'^ 27"" 


r#: 


&: 


@9 


1.313 


-5. Si; 


r. '131 


1.372 


L447 


3.221 


Z2S7 


a.5a& 


-:,• :4S 


21.»t 


r.sei 


37.1s 


37.9S0 


141, IS6 


L'Xi-ri? 


444 


3CS 


am 


2,444 


3.E5 


42.403 


im.SK, 


i«.3«2 


2as.:«:t 


aoi,£t4 


727,447 


? •"• -•'•: 


CSB 


7.161 


S.S2 


Mi,K4 


36,ett 


'."' 4--: 


as 


se 


1.12 


2.134 


4.»77 


.'• ;'j 


2i.a3 


2St.913 


42.088 


44.0^ 


137. Ki 


1 _■_■• >■- 


3LS8 


€.0% 


&.%3 


i^skI 


«U4;% 


1 .-" '.4 


1,3*4 


3,2:5 


6.097 


3.272 


18. OM 


.—: -4 


«^fl» 


54. @« 


0.8»i 


81. 2S 


m,4». 


'. ■ r'_ ■ f 7 


2.«M 


X37 


5^M» 


7.39 


73,312 


'. : 1 l;? ; 


2,255 


£2S 


3;» 


4,a*i 


13.211 


* .-.7 




TK 


!,» 


X9n 


4,701 


•' ■ . J 


4aw 


S.S34 


5,»!» 


7,M4 


2Bi,735 




ILflW 


22,22: 


22, MB 


3S,a6 


129.211 


-- - ?.>■> 


! 3t» 


1,^3 


i2«7 


3.432 


tt,216 


'> '14 




«• 


l,«l 


i,as 


5.2K. 


i. ■ 4 " 




s.a» 


a« 


S.4i7 


38,979 


2-' -;4 


— ;~ 


5. SIS 


-5.9C 


? -»r- 


7". «4' 


Sr.-V. 


xa» 


4.^ 


4.13% 


- ''_»' 


■ '. i ' ■ 


-.-■. -71 


7.m^ 


11_3W 


15. -574 


- - -.-J 




4-.^ -.x; 


-»-*j 




*. . 




. . .. 


-. - vi7 








. .-.-- 







Totd 



1 ladndo X^fl^ tazaUe setnns 
sad tZBSb Sled far iner TCSEE. -- - 
SeA •■ Faa IM» vbkfa doc: 



* Exdoda iffivideadfl BBCave'. 
< In dBa ei taxBHe mtoat i& 

Tja act iMose OBder SMHi 

* latetat, l ee B WB d on IMtei 
'3 flUigtfMBS of oulaiu Iiiiili 
.'jotted OB aetoEH «ilb aet t:: 

' For ddWIin of eni^M&: 
Ke tot. pp. tt-ll, aBdaeetioB 
a! tbe KationllBdaalnd BeET 

* KidBd a aMo^aog^wttec 

* TwIlWia "SBSOBt dntlftc. : 

tbi* tsUe ^3se faotaote I). 



. 'jj.fi.z,.K nrninfi mt ' 



'.bfigatioas upofu 

■ r 1 in eiJBHB '. 
ii25w Fofn 



STATISTICS OF INCOME 



133 



Table 7. — Individual income tax returns^ with net income, 1937, by net income 
classes: sources of income, deductions, net income, total number of returns, and 
frequency of each specific source of income and deduction* 

[Net income dasaes and money figures in thoosands of dollars] 

fFor text defining certain items and describing methods of tabulating and estimating data, see pp. 1-7] 



Net income classes 



Total 

number of 

returns 



Sources of income 



Salaries, wages, com- 
missions, fees, etc. 



Dividends from do- 
mestic and foreign 
corporations ' 



Xumber 



of returns 



, I Amount 



Number 
of returns 



Amount 



Taxable interest 



Bank deposits, notes, 
mortgages, corpo- 
ration bonds 



Number 
of returns 



I Amount 



Under 1 (est.)" - 

Under 1 (est.) 

1 imder 2 (est.)' 

1 under 2 (est.) 

2 under 2.5 (est.)' 

2 under 2.5 (est.) 

2.5 under 3 (est.)' 

2.5 under 3 (est.) 

3 imder 4 (est.l» 

Sunder i (est.). 

4 under 5 (est.)^ 

4 under 5 (est.) 

5 under 6 ' 

5 under 6 -. 

6 under 7... 

7 under 8 

S under 9 

9 under 10 

10 imder 11 



11 under 12 

12 under 13 

13 under 14 

14 under 15 -.. 

15 under 20 

20 under 25 

25 under 30 

30 imder 40 

40 under 50 

50 under 60 

60 under 70 

70 under SO 

SO under 90-- 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300- 

300 under 400 

400 under 500 

500 under 750 

750 under 1.000 

1.000 under 1.500- . 
1.500 under 2.000- - 
2,000 under 3.000- - 
3,000 under 4.000- - 
4.000 under 5,000-. 

5,000 and over 

Classes grouped i»- 

Total 



268,732 

28,411 

206, 423 

31S, 340 

416, 939 

238,991 

703,157 

212,909 

362,777 

522,193 

19. 931 

346,312 

746 

ISl, 902 

117, 026 

77,157 

53,822 

40, 518 

31, 316 

25.034 

20,496 

16,909 

14.551 

45, 967 

24,173 

14, 505 

16. 140 

8,303 

4,877 

3,090 

2,026 

1,363 

962 

2,269 

777 

375 

206 

207 

105 

106 

56 

29 

» 5 

12 

I 1 

1 

1 



123,950 

3,646 

1,029,869 

1, 1%, 730 

317, 515 

196,459 

632,631 

168,533 

302,093 

417,342 

15,401 

259, 704 

424 

123.380 

76. 493 

49.6SS 

34.2S4 

25.2S1 

23.359 

15. 6M 

12, 621 

10,550 

8,951 

2S.072 

14, 245 

S,735 

9,746 

5.046 

2,952 

1,830 

1.246 

809 

55S 

1,348 

437 

202 

107 

103 

61 

52 

32 

18 



6,350,148 



5. 120, 168 



$146. 519 

3,220 

1.422,354 

1, 816, 358 

746,436 

431,425 

1,710,026 

461,903 

1.029.970 

1,398,758 

66,646 

1, 095, 016 

2.155 

624.577 

44S.066 

325. 403 

248. 957 

199.883 

164.289 

143,803 

123,201 

108.036 

97. 717 

342, 576 

212. 595 

145.584 

185,844 

115,777 

77.447 

M. 249 

36,815 

27,913 

21,561 

56,030 

24,021 

11,3&4 

5,908 

6,478 

3,605 

3,340 

1,590 

661 

195 

314 



(") 

0») 



26 



14. 148. 510 



59,148 I 

19.013 I 

130.583 

22S.722 

80. 740 

76,234 

127.008 

77.263 

77.153 i 

206,617 

4.977 

159,488 

186 

92.366 

60. 315 

46.050 

34.377 

28,175 

21. 824 

17,916 

15.145 

12,792 

11,272 

36,928 

20. 102 

12. 509 

14,344 

7.508 

4,517 

2,899 

1,901 

1,299 

918 

2,185 

749 

357 

198 

201 

100 

102 

53 

27 

'5 

12 

1 

1 

1 



$31,992 

11,238 

46,970 

114.627 

33,386 

56,595 

39,026 

61.829 

24.707 

158,081 

2,274 

153,038 

143 

119.259 

108, 170 

93.296 

S-i059 

76, 674 

69,712 

63,159 

62.490 

57, SM 

55.871 

232.442 

lSa337 

148.506 

226.449 

165,095 

128.967 

103.595 

81,728 

66,650 

53,628 

164,243 

87,486 

53,924 

44.949 

53,893 

36,613 

55,471 

41,361 

24.992 

7.ns 

16,873 
(11) 

Q') 
0») 
16,914 



1. 694. 281 3. 514. 293 1. 690, 71 



u 68. 135 

n 16. 017 

u 169, 299 

I' 321, 590 

" 86, 949 

>1SS,931 

u 135, 697 

1183.406 

"67.673 

>' 192. 762 I 

"3.682 

» 127. 004 

174 

69. 592 

47.638 

33.211 

24.362 

19. 024 

15.435 

12.552 

10.768 

9.038 

S.0O4 

26.480 

14.779 

8.71S 

10.951 

5,906 [ 

3.641 

2.387 I 

1.590 

1.067 

793 

1,854 

656 

313 

173 

182 

93 

92 

50 

24 

5 

12 

1 

1 

1 



u$25,343 

"5,100 

"39,586 

"81.035 

"23,827 

"33,890 

" 25, 214 

"35,302 

"13,704 

"80.075 

"1,799 

"65,530 

127 

42.024 

34.551 

28.041 

23.051 

2a 399 

18,068 

15.596 

14.376 

12.689 

11.404 

45.212 

31,308 

21. 732 

•29.491 

17,909 

13.640 

9,163 

6,688 

4,667 

4.020 

lasso 

4.313 
2,650 
1.511 
2.142 
1.096 
1.158 
1,010 
546 
1,248 
391 

0») 

00 

(U) 
270 



862.349 



Nonta.\able returns • 

Taxable returns 



2. 97S. 705 
3.371.443 



2. 421. SS3 
2. 69S, 2So 



5. 124. 105 
9. 024. 404 



479. 795 17S, 499 , 531. 609 

1. 214. 48^ 3. 335. 794 1. 159, 103 



129,611 
732.-39 



For footnotes, see p. 137. 



134 



STATISTICS OF INCOME 



Table 7. — Individual income lax returns ' wilh nel income, 1937, by net income 
classes: sources of income, deductions, net income, total number of returns, and 
frequency of each specific source of income and deductions — Continued 

[Net income classes and money figures in thousands of dollars] 





Source of income — Continued 




Taxable interest- 
Continued 


Partners! 


ip profit » 


Income from fidu- 
ciaries ' 


Rents and 




Net income classes 


Partially tax-exempt 
Government obli- 
gations < 


royalties 




Number 
of 

returns 10 


Amount 


Number 
of returns 


.Amount 


Number 
of returns 


.\mount 


Number 
of returns 


Amount 


Under 1 (est.)2 




('*) 

(14) 
(14) 

('*) 
(14) 

(») 
CO 
('<) 
(14) 
(14) 
(14) 

241 

3,154 

2,866 

2,583 

2,285 

2,030 

1,760 

1,733 

1,492 

1,345 

1,346 

5,083 

3.666 

2,999 

4,325 

2,655 

1,666 

1,313 

1,098 

662 

481 

1,508 

691 

178 

167 

240 

233 

84 

34 

33 

3 

1 


9,689 

486 

18, 460 

12, 483 

13, 608 

5,751 

16, 875 

7,762 

11,939 

26, 376 

1,025 

25, 219 

75 

19, 015 

13, 766 

9,716 

7,045 

5,701 

4,676 

3,705 

3,072 

2,623 

2,276 

7,277 

4,007 

2,476 

2,944 

1,552 

846 

601 

369 

233 

162 

345 

107 

45 

30 

35 

11 

17 

5 

2 

2 

1 


8,782 

474 

23, 422 

15, 153 

23, 209 

9,508 

34, 144 

15, 978 

30, 469 

65. 797 

3,219 

82, 087 

283 

76, 928 

65, 407 

52,817 

43, 084 

38, 425 

34, 410 

29, 884 

26, 228 

23, 899 

22, 506 

84, 043 

58, 516 

42, 940 

61, 589 

41, 020 

25,983 

21, 058 

13, 243 

10, 391 

7,735 

22,097 

9,098 

5,280 

2,745 

2,646 

1,767 

1,545 

287 

1.176 

4 

22 


5,362 

1,363 

8,104 

13, 861 

4,382 

6,724 

8,377 

6,414 

3,604 

15, 145 

341 

14, 115 

35 

11.199 

8,276 

6,373 

5,261 

4,050 

3,370 

2,896 

2,504 

2,096 

1,947 

6,569 

4,135 

2,787 

2,477 

1,994 

2,226 

829 

594 

418 

286 

726 

260 

166 

70 

76 

40 

48 

35 

23 

3 

11 


4,458 
923 

8,180 
16, 866 

5.342 
10, 036 

5,737 
10, 773 

4,987 
29, 178 
529 
29. 843 
154 
29. 260 
25, 764 

23, 648 
21,217 
19, 530 
18, 057 
16, 462 
15,427 
14, 077 
13, 759 
58, 038 
43, 562 
36, 850 
55, 752 
41, 491 
32, 607 

24, 624 
20. 106 
15. 062 
12, 496 
39, 678 
22, 408 
19, 205 

7,368 
14, 558 

9,184 
13,598 
15, 352 
13. 792 

1,173 

9,660 


52, 424 

4,687 

77, 577 

54, 938 

55, 294 

21, 387 

57, 359 

27, 552 

33,314 

79, 512 

2,614 

58, 725 

195 

35, 680 

24, 601 

15, 625 

11,994 

9.420 

7,434 

5,877 

4,936 

4,177 

3,537 

11,232 

6,273 

3,757 

4,424 

2,234 

1,372 

875 

565 

381 

267 

632 

240 

118 

67 

53 

33 

32 

28 

8 

1 

2 

1 

1 


45, 155 


Under 1 (est.) 




3,374 


1 under 2 (est.)' 




62, 992 


1 under 2 (est.) 




37,871 


2 under 2.5 (est.)' 




45, 527 


2 under 2.5 (est.) 




18.434 


2.5 under 3 (est.)' 




40. 777 


2.5 under 3 (est.) 




23. 444 


3 under 4 (est.)' 




23. 201 


3 under 4 (est.) - -- 




68, 770 


4 under 5 (est.)' . 




2,518 


4 under 5 (est.) 




61,513 


5 under 6 ' 

5 under 6 - 


80 

7,366 

5,741 

4,522 

3,761 

3,116 

2,620 

2,209 

1,963 

1,668 

1,520 

5,665 

3,519 

2,326 

2,984 

1,723 

1,042 

716 

491 

312 

240 

559 

187 

77 

46 

50 

22 

33 

10 

6 

3 

3 


208 
42,752 


6 under 7 


32, 280 


7 under 8 . . - . 


24, 756 


8 under 9 . 


18, 388 


9 under 10 


16, 546 


10 under 11 


13,942 


11 under 12 


11,670 


12 under 13 


10, 129 


13 under 14 


8,910 


14 under 15 . -. 


8,597 


15 under 20 . 


30, 079 


20 under 25 


20, 058 


25 under 30 


13,464 


30 under 40 . . 


19, 368 


40 under 50 . 


11, 465 


50 under 60 


7,974 


60 under 70 


6,664 


70 under 80 


4.271 


80 under 90 ... 


3.013 


90 under 100 


2.097 


100 under 150 

150 under 200 

200 under 2.50 

250 tinder 300 

300 under 400 

400 under .500 

500 under 750 

750 under 1,000 

1,000 under 1,.500 

1,. 500 under 2,000 

2,000 under 3,000 

3,000 under 4,000 


7.481 

3.216 

2.128 

1.415 

521 

738 

954 

1,420 

331 

11 

3 

(15) 


4,000 under 5,000 


1 


(15) (18) 










(15) 


5,000 and over 












Classes grouped "... 




(16) 












21 














Total 


54, 581 


47, 955 


242. 410 


1,139,301 


159, 572 


830, 772 


681,455 


758, 444 






Nontaxable returns '. 
Taxable returns 


80 
54,501 


241 
47, 713 


71,671 
170, 7.39 


123, 529 
1,015,772 


30, 205 
129, 367 


29, 387 
801, 385 


278, 777 
402,678 


220, 378 
538,066 



For footnotes, see p. 137. 



STATISTICS OF. INCOME 



135 



Table 7. — Individual income tax returns ^ with net income, 1937, by net income 
classes: sources of income, deductions, net income, total number of returns, and 
frequency of each specific source of income and deductions— Coi-\tix\\xe6. 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



Under 1 (est.) 2 

Under 1 (est.) 

1 under 2 (est.)2... 

1 under 2 (est.) 

2 under 2.5 (est.) 2. 

2 under 2.5 (est.)- 
2.5 under 3 (est.)». 
2.5 under 3 (est.).. 

3 under 4 (est.)2... 

3 under 4 (est.) 

4 under 5 (est.)'... 

4 under 5 (est.) 

5 under 6 2 

5 under 6. 

6 under 7 

7 under 8 

Sunder 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

sounder 60 

60 under 70 

70 under 80 

sounder 90 

90 under 100.. I., . 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1.500... 
1,500 under 2,000... 
2,000 under 3,000... 
3,000 under 4,000... 
4,000 under 5,000.. 

5,000 and over 

Classes grouped i'. 

Total.. 



Nontaxable returns '. 
Ta.xable returns 



Sources of income— Continued 



Business profit 



Number 
of busi- 
nesses " 



82, 472 

1,114 

140, S37 

31,289 

92, 891 

10, 854 

76, 389 

20, 932 

51, 806 

88, 248 

4,334 

50, 738 

272 

38, 851 

25, 233 

16, 171 

11,038 

8,050 

5.975 

4,580 

3,751 

2,986 

2,433 

7,182 

3,435 

1,843 

1,892 

828 

453 

245 

182 

97 

59 

149 

47 

16 

16 

12 

6 

2 

3 

1 



449, 001 
338,711 



Amount 



64, 986 

868 

218, 708 

42, 282 
198, 454 

22, 468 
190, 780 

50. 403 
161, 201 
224, 928 

17,111 
238, 362 
1,367 
183, 180 
138. 791 
101,814 
77, 538 
62, 808 
50, 451 
42, 553 
37, 314 
31,446 
27, 253 
93, 179 

55. 404 
34, 852 
42, 317 
23, 955 
14, 638 

8,663 

7,780 

3,449 

2,788 

8,958 

4,207 

1,729 

1,875 

2,435 

1,025 

269 

812 

24 



2, 493, 426 



Net capital gain « 



Number 
of returns 



8,334 

2,890 

12, 705 

22, 091 

9,405 

10, 724 

10, 855 

11,900 

8,153 

32, 539 

752 

29, 174 

68 

22, 814 

18, 130 

12, 902 

9,382 

7,590 

6,130 

5,130 

4,401 

3,835 

3,315 

10,908 

6,336 

3,965 

4,632 

2,360 

1, 523 

962 

643 

417 

297 

720 

241 

114 

73 

70 

34 

43 

15 

10 

3 

6 

1 



Amount 



4,444 

867 

7,328 

12, 342 

5,573 

7,230 

5,699 

8,580 

4,981 

24, 195 

653 

26, 952 

71 

22, 547 

19, 685 

15,801 

13, 865 

12, 352 

10,880 

10, 106 

9.168 

8,255 

7,441 

29, 798 

22, 336 

16, 563 

24, 186 

13, 634 

13, 887 

8,786 

6,688 

5,266 

3,836 

14, 359 

4,916 

3,249 

6,523 

7,494 

3,741 

2,139 

950 

641 

163 

3,915 

(IS) 



2,028 



Other 
income ' 



9,434 

612 

17, 768 

13, 112 

12, 762 

6,293 

14, 622 

7,451 

10, 222 

20, 559 

799 

19, 368 

63 

9,843 

7,875 

5,715 

4,290 

3,668 

3,693 

3,164 

2,963 

2,790 

2,335 

9,905 

6,513 

4,433 

5,933 

4.276 

2,142 

2,343 

1, 873 

1,054 

637 

2,238 

836 

866 

1,168 

307 

141 

133 

145 

515 

1 

66 

(15) 



286. 592 



852, 607 
1, 640. 819 



50, 272 
236, 320 



434, 114 



28, 749 
405, 365 



224, 935 



65. 670 
159, 265 



Total in- 
come 



341.111 

26, 685 

1, 847, 317 

2, 149, 547 

1, 094, 517 

595, 881 
2, 066, 026 

675, 662 

1, 303, 443 

2, 070, 341 

95,549 
1,771,710 
4,813 
1, 154, 423 
883, 453 
673, 875 
534, 733 
452, 316 
385, 262 
338. 130 
302, 788 
269, 312 
248, 230 
930, 354 
634, 295 
467, 924 
655, 255 
437, 277 
318, 952 
240, 459 
180, 291 
138.127 
109. 280 
327, 123 
161. 193 
100. 574 
73, 629 
90. 714 
58. 145 
78, 691 
62. 962 
42, 710 
10,516 
31, 245 

(15) 
(15) 
(15) 

19, 260 



24. 454, 099 



6, 752, 777 
17,701 322 



For footnotes, see p. 137. 



136 



STATISTICS OF INCOME 



Table 7. — Individual income tax returns ^ with net income, 1937, by net income 
classes: sources of income, deductions, net income, total number of returns, and 
frequency of each' specific source of income and deductions — Continued 



[Net income classes and money fignrea In thoosands o 


r dollars] 








Deductions 


N'et income classes 


Partnership loss * 


Business loss 


Net capital loss • 


Contributions 




Number 
of 

returns 


Amount 


Number 
of busi- 
nesses >" 


.^jnount 


Number 

of 
returns 


Amount 


Number 

of 
returns 


.Vmount 


Under l (est.)' - 

Under 1 (est.) . 


2,074 

91 

2.106 

855 

1.163 

788 

903 

526 

732 

1,668 

46 

1,628 

7 

1,283 

996 

716 

578 

508 

375 

340 

282 

242 

232 

719 

486 

303 

405 

202 

145 

81 

58 

42 

26 

97 

41 

22 

11 

6 

8 

4 

1 

2 


2,254 
112 

2,379 
616 

1,130 
437 
951 
417 
612 

1,705 
66 

1,795 
21 

1,414 

1.296 
816 
698 
794 
691 
370 
470 
493 
383 

1,538 

990 

874 

974 

606 

437 

264 

490 

110 

187 

802 

282 

111 

76 

366 

861 

13 

67 

44 


12. 526 

250 

6,164 

2,950 

4,276 

1,157 

3,388 

1,602 

2,074 

4,853 

176 

4,106 

20 

3.212 

2,215 

1,621 

1,281 

1,059 

907 

713 

672 

511 

498 

1,528 

995 

632 

852 

521 

334 

211 

127 

101 

76 

184 

89 

48 

22 

26 

10 

22 

19 

11 

1 

2 


10,950 

346 

8,246 

2,071 

3,867 

1,068 

3.022 

1,509 

2.215 

5,026 

221 

4,717 

34 

4,387 

3,243 

2,811 

2,440 

2,386 

1,779 

1,817 

1,788 

1,250 

1,480 

4,368 

3,475 

2,273 

4,272 

3,017 

2,155 

1,531 

805 

892 

582 

1.728 

1,300 

742 

435 

1,852 

163 

673 

538 

329 

55 

79 


15. o.'a 

2,766 

14, 513 

23.674 

10,288 

7,237 

10,024 

8,197 

7,161 

24,527 

674 

23,559 

42 

19,823 

15, 192 

11, 412 

9,016 

7,300 

6,135 

5,148 

4,563 

3,929 

3.466 

12.308 

7,242 

4,734 

5.718 

3.242 

1,963 

1,320 

900 

634 

459 

1,085 

396 

198 

102 

91 

57 

56 

33 

12 

1 

4 


19,477 
2,142 

16, 859 

10, 652 

9,396 

4,792 

8,270 

6,340 

6,432 

18,840 

622 

20,538 

39 

16,150 

13,507 

10,961 

9,023 

7,726 

6,736 

5,765 

5,255 

4,561 

4,126 

15,406 

9,687 

6,489 

8.224 

4,770 

3,009 

2,051 

1.393 

961 

731 

1,726 

630 

325 

160 

144 

98 

91 

55 

22 

2 

8 


121, 390 

8,643 

485, 137 

962. 132 

200,091 

163, 750 

311.183 

146.581 

186, 907 

391, 397 

12.520 

265,681 

485 

140,704 

91, 570 

61,030 

42,838 

32, 373 

25,086 

20,349 

16, 492 

13.780 

11,913 

37, 670 

19, 987 

12.011 

13, 701 

7,097 

4,184 

2,723 

1,805 

1,195 

857 

3,015 

720 

335 

176 

177 

94 

94 

52 

29 

5 

10 

1 

1 

2 


8,015 
510 


1 nnder 2 (est.)* 


26,224 


1 under 2 (est.) -- 


47,049 


2 under 2.5 (est.)' 


14,863 




10, 558 


2.5 under 3 (est.)'.. - . 

2 5 under 3 (est.) 


22,040 
11,563 


3 under 4 (est.)' 

Sunder 4 (est.) 


15, 174 
34,507 


4 under 5 (est.)' 


1,475 


4 under 5 (est.) 


29,418 


5 under 6 ' 


85 


5 under 6 


19, 539 




14.686 


7 under 8 


11, 236 


8 under 9 


8,901 


9 under 10 . 


7,436 


10 under 11 


6. 489 


11 under 12 


5,629 


12 under 13 .-- 


4,994 


13 under 14 -.. 


4,496 


14 under 15 --. 


4,103 


15 under 20. 


15,771 


20 under 25 . .. 


11,076 


25 under 30 


8,488 


30 under 40 


12,992 


40 under 50 


9,728 


50 under 60 . . 


7,415 


60 under 70 . 


6,336 


70 under SO 


5,089 


80 under 90... 


3,976 


90 under 100 


3,390 


100 under 150 


11,213 


150 under 200 


5,964 


200 under 250 ... 


4,477 


250 under 300 


2,780 


300 under 400 


4,083 


4C0 under 500 


2.923 


500 under 750 


3,803 


750 under l.OOO 


3,872 


1,000 under 1.500 


2,619 


1,500 under 2,000 


983 


2,000 under 3,000 


1 


(IS) (U) 


2,019 


3 000 under 4,000 


(1!) 


4.000 under 5,000 










1 
1 


(ij) 


(1!) 


."i.nftn and fiTPr 










(15) 












2.020 


















Total 


20.799 


29.011 


62.042 


97.940 


274.256 


264.192 


3, 817, 003 


440. 010 



Nontaxable returns'. 
Taxable returns. 



7.031 
13. 768 



7,414 
21. 5P6 



2S,624 
33 41S 



28,55.5 
69. 385 



216. 501 



61.095 
203,096 



1,317,713 
2, 499, 290 



87, 876 
352, 134 





Deductions— Continued 




Net income classes 


Interest paid ' 


Taxes paid ' 


Other 
deduc- 
tions '« 


Total 
deduc- 
tions' 


Net in- 
come 




Number 
of returns 


Amoimt 


Number 
of returns 


Amount 




Under 1 (est.)' 


56.941 

4.215 

154,199 

252. 439 

125,386 

55.882 
181, 462 

67.607 
156, 878 


22,896 
1,286 
33,207 
19, 312 
31,568 
7,235 
38,345 
12,289 
27,578 


70. 778 
13.656 
431, 398 
753. 658 
219. 502 
169. 764 
330,020 
164,725 
197, 118 


31.258 
2.201 
46. 932 
49.729 
36. 416 
16.599 
44.042 
21,952 
26,951 


58,059 
5,887 
70, 121 
71, 185 
48.912 
26,284 
40.471 
26.885 
27, 959 


152,910 

12,484 

203,969 

200,613 

146,153 

66,973 

157, 142 

80,955 

106, 921 


188, 201 


Under 1 (est.).-. 


14,200 


1 under 2 fest.)' 


1, 643, 349 


1 under 2 rest.) 

2 under 2.5 ^est.)' 

2 tmder 2.5 (est.) 


1,948,934 
948,364 
528,908 

1,908,885 
594,707 

1, 196, 522 


2.5 under 3 (est.)' 

2.5 tmder 3 (est.) 


3 under 4 (est.)' 



STATISTICS OF INCOME 



137 



Table 7. — Individual income tax returns ^ with net income, 1937, by net income 
classes: sources of income, deductions, net income, total number of returns, and 
frequency of each specific source of income and deductions — Continued 

[Net income classes and money figures in thousands of dollars] 



Net income classes 



Sunder 4 (est.) 

4 under 5 (est.)>. .. 

4 under 5 (est.) 

5 under 6 ' 

5 under 6 -.. 

6 under 7 

7 under 8 

8 under 9.-- 

9under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15.- 

15 under 20 

20 under 25 

25 under 30 

sounder 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500.. 
1,500 under 2.000.. 
2,000 under 3,000. . 
3,000 under 4,000. . 
4,000 under 5,000.. 

5,000 and over 

Classes grouped ". 

Total 



Deductions— Continued 



Interest paid ' 



Number 
of returns 



219, 345 

8.42« 

169, 820 

323 

91, 735 

60,622 

40, 477 

28, 201 

22,099 

16, 984 

13,765 

11,118 

9,502 

8,056 

26, 019 

14.006 

8,468 

9,829 

5,129 

3,152 

2,023 

1,356 

884 

635 

1,713 

570 

267 

162 

152 

84 

84 

45 

23 

3 

10 
1 
1 
1 



Amount 



Taxes paid ' 



Number 
of returns 



Nontaxable returns'. 683,615 

Taxable returns 1, 146. 484 



1, 830, 099 



50,004 
2,697 
49, 337 
148 
33,277 
26,225 
19, 161 
15,009 
12, 943 
10, 937 
9,376 
7,988 
7,009 
6,633 
23,617 ' 
15,237 I 
10, 735 
15,028 
9,041 
6,864 
4,770 
3,590 
3,118 
1. 923 
6,533 
3,313 
1,936 
1,331 
1,481 
1,653 
917 
3,925 
1,2.54 
45 
139 

(IS) 

(ij) 

(15) 

91 



560, 997 



424, 794 

12, 466 

286, 730 

464 

150,801 

97, 365 

66, 130 

47,005 

35, 381 

27, 361 

22, 238 

18, 085 

15,117 

13,076 

41, 687 

22, 056 

13, 308 

15,015 

7,772 

4,602 

2,932 

1,924 

1,310 

924 

2,188 

755 

367 

199 

200 

111 

99 

54 

29 

5 

12 

1 

1 

1 



Amount 



68, 042 
2,455 
59,076 
172 
41,313 
31,941 
24,953 
20,042 
17, 370 
15. 147 
13,328 
11,946 
10, 867 
10, 136 
39. 564 
26,710 
20,080 
28,395 
19,580 
14,809 
11,258 
8,531 
7.011 
5,083 
16,980 
8,000 
4,625 
4,890 
5,345 
3,287 
3,311 
2,738 
2,230 
577 
634 
(l^^ 

(IS) 
(15) 

770 



Other 
deduc- 
tions ' • 



72,394 
2,920 
61, 301 
316 
44,321 
36, 070 
27,809 
22,665 
19,681 
15,348 
14,427 
14,447 
12, 675 
10 549 
38, 987 
28,939 
22,710 
31,018 
21, 730 
17,854 
14,085 
9,105 
6,689 
6,355 
15, 877 
9,187 
4,591 
7,518 
6,275 
2,851 
4.940 
2,310 
90S 
349 
1,358 

(15) 
(13) 
(15) 

1,783 



3,683.184 837,272 



l.se 439 1,261,746 
404, 558 2. 421, 438 



188, 225 
649,047 



986, 103 



Total 
deduc- 
tions' 



250, 519 
10,456 

226,182 
815 

160,400 

126, 967 
97, 747 
78, 778 
68, 336 
57, 126 
50, 713 
46,889 
41, 351 
37,409 

139, 251 
96, 114 
71,649 

100,904 
68. 473 
52,543 
40,294 
29,003 
22, 757 
18,250 
54,859 
28,677 
16,806 
17,190 
19,545 
11,836 
13, 749 
13,505 
7,401 
2,011 
4,237 

(15) 
(15) 
(15) 

4,667 



Net in- 
come 



248,760 I 778,365 
737,343 ! 2.437,160 



1, 819, 822 
85, 093 
1, 545, 528 
3,998 
994,023 
756, 486 
576, 128 
455, 955 
383,980 
328, 136 
287, 417 
255, 899 
227, 961 
210, 821 
791, 103 
538, 181 
396, 275 
554, 352 
368, 804 
266, 408 
200, 165 
151.288 
115, 370 
91,020 
272,264 
132, 516 
83,769 
56,440 
71,168 
46,309 
64,942 
49,457 
35,309 
8,505 
27,008 

(15) 
(15) 

(") 
14.504 



21.238,574 



5, 974, 412 
15,264,162 



' Includes 36,068 taxable returns. Form 1041. which correspond to taxable returns. Form 1040, for estates 
and trusts filed for prior years, and 8,463 taxable returns and 3,784 nontaxable returns for estates and trusts 
filed on Form 1040 which should have been filed on Form 1041. 

' Nontaxable returns. Specific exemptions exceed net income. .\ negligible number of nontaxable 
returns in net income classes of $6,000 and over, is not tabulated separately. 

9 Excludes dividends received through partnerships and fiduciaries. 

* Interest received on United States savings bonds and Treasury bonds, owned in excess of $5,000, and on 
obligations of certain instrumentalities of the United States, is subject to surtax if the surtax net income is 
over $4,000. (See items 5 and 25, Form 1040. p. 206.) 

5 For explanation of item, see text, p. 11. 

« For definition of capital assets and amounts of net capital gain and loss taken into account for tax pur- 
poses, see text pp. 10-11, and section of the report entitled "Revenue Acts of 1913-1937 and certain tax pro- 
visions of the National Industrial Recovery Act (1933)," pp. 194-195. 

" The number of retmns with "other income" and "other deductions" is not available, since the amount 
of "other income" is secured by deducting the sum of the specific sources of income from total income and the 
amount of "other deductions" is determined by subtracting the sum of the specific deductions from total 
deductions. 

' Excludes amounts reported in Schedules C and D as business deductions. 

' Includes "amount distributable to beneficiaries" reported on returns for estates and trusts included in 
this table (see footnote 1). 

1' The number of returns with net Income under $5,000 with taxable interest received on partially tax- 
exempt Government obligations is not available. 

" If two or more businesses in different industrial groups are reported on one return, each business is 
counted separately. Consequently, the number of businesses exceeds the number of returns reporting 
business profit or loss. 

" Excludes number of returns with taxable interest received on partially tax-exempt Government obliga- 
tions. 

" Includes taxable interest received on partially tax-exempt Government obligations. 

•• Tabulated with "taxable interest received on bank deposits, notes, mortgages, corporation bonds." 

» Classes grouped to conceal identity of taxpayer. 

>• Less than $500. 



138 



STATISTICS OF INCOME 



Table 8. — Individual returns with net income oj $5,000 and over, 1937, by size of 
'profit or loss from business {sole proprietorship) and by industrial groups: number 
of businesses with profit or loss and amount of profit or loss 

[For text defining certain items and describing methods of tabulating data, see pp. 26-27] 













Industrial groups 


Size of profit or loss 
from business 

(Thousands of dollars) 




Agriculture and related industries 


Profit 


Loss 


Profit 


Loss 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses ' 


.\mount 


UnderO.l 


1,569 
1,377 

1,208 
_. 1,028 


$74, 578 
202, 095 
299, 479 
357, 794 
443, 973 

3, 044, 134 
9, 948, 185 

15, 564, 035 
23, 691, 293 
40, 982, 553 
480, 067, 898 
187, 941, 779 
92, 454, 884 
54, 849, 816 
34, 081, 383 
40, 978, 960 
23, 221, 592 
25, 698, 530 
8,711,501 
15, 121, 349 

4, 079, 973 
1, 059, 034 


1,259 

1,229 

1,117 

925 

865 

3,194 

3,666 

1,915 

1,134 

749 

1,488 

426 

219 

101 

64 

74 

32 

38 

10 

13 

1 


$61, 319 

183, 516 

276, 929 

322, 190 

388, 233 

2,332,118 

5, 290, 221 

4, 730, 410 

3, 927, 041 

3, 329, 746 

10, 232, 374 

5, 159, 632 

3, 754, 073 

2, 252, 922 

1, 737, 039 

2, 531, 858 

1, 422, 653 

2, 378, 280 
856, 831 

1, 907, 424 
256, 477 


464 

401 

353 

298 

296 

1,014 

1,334 

853 

753 

805 

4,909 

849 

303 

147 

60 

78 

27 

25 

7 

4 


$21, 847 
59, 749 
88, 306 
103, 381 
132, 290 
741, 123 

1, 919, 687 

2, 302, 079 

2, 631, 155 

3, 643, 843 
32, 878, 769 
10, 202, 606 

5, 216, 810 
3, 263, 903 

1, 632, 293 

2, 637, 368 
1, 174, 808 
1, 474, 611 

606, 395 
468, 878 


478 

527 

524 

439 

462 

1,744 

2,086 

1,197 

692 

483 

942 

282 

138 

50 

42 

44 

14 

17 

5 

5 


$24, 107 


0.1 under 0.2 


80, 370 


0.2 under 0.3 _.. _- 


130, 314 


0.3 under 0.4 


153, 075 


4 under 0.5 


993 

4,105 

6,695 

6,227 

6,743 

9,024 

69, 684 

15, 665 

5,399 

2,468 

1,251 

1,198 

525 

426 

102 

107 

12 

2 


207, 316 


5 under 1 


1, 283, 119 


1 under 2 ._ 


3, 025, 267 


2 under 3 . 


2, 980, 553 




2, 396, 029 




2, 147, 033 




6, 486, 983 


10 under 15 


3, 359, 203 


15 under 20. 


2, 362, 869 


20 under 25 . ... ... 


1, 113, 484 


25 under 30 


1, 135, 678 


30 under 40 


1, 502, 630 


40 under 50 


615,922 


sounder 75 

75 under 100 


1, 078, 350 
428, 313 


100 under 250 


709, 163 


250 under 500 




500 under 1,000..- 










1,000 and over ... 


1 


1, 350, 564 
54, 680, 850 

43, 259, 562 






1 


1, 350, 564 














Total for returns 
of $5,000 and 


135, 808 
651,904 


1, 062, 874, 818 
1, 430, 551, 414 


18,520 
43, 522 


12, 980 


71, 199, 901 


10, 172 


32, 570, 342 


Total for returns 
of net income 
under $5,000 
for which no 
frequency dis- 
tribution by 
business and 
by profit or 
loss is avail- 
able 














Grand total 


787, 712 


2, 493, 426, 232 


62,042 


97, 940, 412 





















For footnotes, see p. 143. 



STATISTICS OF INCOME 



139 



Table 8. — Individual returns with net income of $5,000 and over, 1937, by size of 
profit or loss from biisiness (sole proprietorship) and by industrial groups: number 
of businesses with profit or loss and amount of profit or loss — Continued 





Industrial groups— Continued 


Size of profit or loss from 
business 

(Thousands of dollars) 


Mining and quarrying 


Manufacturing 


Profit 


Loss 


Profit 


Loss 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Under 0.1 


36 

31 

38 

23 

22 

85 

155 

78 

77 

98 

434 

177 

84 

39 

40 

39 

29 

22 

5 

17 

1 

2 


$1, 890 

4,794 

9,657 

8,004 

10, 067 

62, 312 

231, 163 

191, 180 

266, 602 

446, 705 

3, 004, 307 

2, 119, 013 

1, 463, 261 

852, 617 

1, 103, 327 

1, 389, 140 

1, 292, 136 

1, 354, 354 
400, 273 

2, 599, 186 
252, 612 

1, 059, 034 


14 

10 

15 

15 

11 

36 

65 

33 

23 

20 

48 

10 

10 

10 

3 

6 

4 

4 

1 

3 


$661 

1,398 

3,661 

5,330 

4, 851 

26, 735 

101, 064 

81, 137 

81, 239 
89, 261 

344, 263 
115, 394 
162, 452 
224, 912 

82, 417 
203, 654 
177, 234 
239, 479 

82, 853 
481, 524 


30 

34 

33 

32 

32 

138 

216 

248 

284 

449 

4,252 

1,064 

450 

226 

119 

120 

61 

57 

13 

11 

3 


$1, 350 

4,903 

8,044 

11, 124 

14. 261 

102, 398 

332, 090 

625, 202 

1, 010, 452 

2, 039, 369 
29, 413, 204 
12, 729, 210 

7,696,211 
5, 034, 549 

3, 250, 155 

4, 118, 488 

2, 711, 276 

3, 380, 015 
1, 099, 017 
1, 665, 551 

962, 519 


39 

28 

36 

22 

17 

93 

93 

56 

27 

20 

34 

7 

7 

2 

2 

1 


$2, 071 
4,103 


1 under 0.2 


2 under 0.3 


8,650 


3 under 0.4 


7,598 


4 under 0.5 . 


7,602 


5 under 1 


65, 622 




132, 737 


2 under 3 . 


134, 795 




92, 555 


4 under 5 .., 


90, 907 




231,919 


lOunder 15 


81, 597 


15 under 20 


120, 851 


20under25 .. 


46. 789 


25 under 30 


53, 528 


30 under 40 . . 


39, 645 


40 under 50 . . 




50 under 75.- . . 


3 

1 


182, 919 


75 under 100- 


80, 769 


100 under 250 




250 under 500 






500 under 1,000 










1,000 and over. . _-. 
































Total for returns of 
$5,000 and over 

Total for returns of 
net income under 
$5,000 for which 
no frequency dis- 
tribution by busi- 
ness and by profit 
or loss is available 


1,532 


18, 121, 634 


341 


2, 509, 519 


7,872 


76, 209, 388 


488 


1, 384, 057 




















Grand total 





































For footnotes, see p. 143. 



186585 — 40 10 



140 



STATISTICS OF IITCOME 



Table 8. — Individual returns with net income of $5,000 and over, 1937, by size of 
profit or loss from business (sole proprietorship) and by industrial groups: nu?nber 
of businesses with profit or loss and amount of profit or loss — Continued 





Industrial groups— Continued 


Size of profit or loss from 
business 

(Thousands of dollars) 


Construction 


Transportation and other public 
utilities 


Profit 


Loss 


Profit 


Loss 




Number 
of busi- 
nesses ■ 


Amount 


Xumber 
of busi- 
nesses ' 


Amount 


Number 
of busi- 
nesses ' 


Amount 


Number 
of busi- 
nesses ' 


.\mount 


Under 0.1 


15 

8 

21 

15 

16 

62 

163 

160 

205 

357 

2,971 

610 

229 

115 

65 

75 

38 

22 

7 

1 


$643 

1,300 

5,208 

5,136 

7,252 

47,290 

251, 098 

413, 033 

722, 882 

1. 629, 789 
20. 388. 581 

7. 343. 211 
3. 922. 175 

2. 547. 357 

1. 771. 322 

2. 557. 656 
1. 699. 288 
1. 324. 676 

598. 872 
980. 285 
319, 712 


14 
13 
16 
12 
11 
22 
39 
18 
14 
11 
18 
1 
3 
1 
1 
2 


$705 

1,925 

4,086 

4,294 

4,923 

17, 314 

56,935 

42,390 

48,432 

47, 158 

125. 855 

12, 610 

55.644 

24,009 

29, 797 

63,164 


11 
18 
14 
11 
12 
67 
98 
91 
93 

no 

1.056 
209 
67 
30 
19 
17 
9 
3 
2 


$743 

2,759 

3,444 

3,852 

5.418 

51.475 

142, 422 

228. 516 

324. 260 

491, 718 

7, 261, 526 

2, 519. 331 

1.157.327 

662. 729 

517. 152 

589, 257 

392. 237 

171. 799 

178, 715 


19 

11 

8 

10 

9 

25 

33 

22 

2 

4 

12 

1 

2 

1 


$936 


0.1 under 0.2 


1.668 


0.2 under 0.3 


2,011 


0.3 under 0.4 


3,517 


0.4 under 0.5 


3 918 


0.5 under 1 


18, 111 


1 under 2 .. ... 


42,170 


2 under 3 ... .. 


51, 623 


3 under 4 


7,176 


4 under .=i 


18,346 


.=) under 10 


87, 868 


10 under 15 . . 


14, 235 


15 under 20 


37 674 


20under25 


22, 153 


25 under 30 


30 under 40 


1 


32, 458 


40 under 50 


50 under 75 






1 


71,680 


75 under 100 






100 under 250 










250 under 500 














500 under 1.000 














1,000 and over 




































Total... 


5,162 46.536.766 


196 


539, 241 


1,937 


14. 704, 680 


161 


415, 544 









Industrial groups— Continued 


Size of profit or loss from 


Trade— Retail 


Trade— Wholesale 


business 
(Thousands of dollars) 


Profit 


Loss 


Profit 


Loss 




Number 
of busi- 
nesses 1 


Amount 


Number 
of busi- 
nesses I 


Amount 


Number 
of busi- 
nesses ' 


.\mount 


Number 
of busi- 
nesses ' 


Amount 


Under 0.1 . . 


206 

216 

138 

168 

147 

661 

1,323 

1,399 

1.698 

2.388 

16, 178 

2,899 

921 

388 

188 

147 

86 

50 

7 

12 


$10,656 

31, 869 

34.542 

58.860 

66, 075 

483, 425 

1,994,443 

3. 419. 842 

5.978,939 

10,860.964 

109,065.229 

34. 736. 668 

15. 767, 102 

8.618.818 

5, 085. 075 

5. 093, 195 

3,836,179 

3, 008, 925 

585, 592 

1,476,948 


116 

149 

78 

92 

90 

296 

337 

138 

105 

56 

88 

27 

8 

3 


$5, 980 

22, 391 

19. 532 

32. 190 

40. 382 

214.314 

477. 014 

333, 201 

358. 013 

246. 980 

594. 206 

337. 077 

135. 934 

67, 173 


19 

17 

18 

14 

15 

83 

145 

174 

198 

280 

2,431 

666 

2S0 

130 

62 

80 

24 

26 

7 

2 


$663 

2.600 

4.472 

4.868 

6.663 

72. 221 

221. 272 

439. 521 

706. 405 

1.274.428 

16. 946. 265 

7. 988, 018 

4. 820. 847 

2, 897. 347 

1. 704. 869 

2. 744. 391 
1, 056. 821 
1, 602. 934 

602. 894 
215, 241 


10 

11 

12 

9 

2 

24 

43 

25 

19 

6 

23 

5 

1 

2 

1 

1 


$599 


0.1 under 0.2 


1 578 


0.2 under 0.3 


3.182 


0.3 under 0.4 


3.225 


0.4 under 0.5 


951 


0.5 under 1 


18 019 


1 under 2 


61 867 


2under3 . 


60. 205 


3under4 .. 


65,310 


4 under 5 


26 974 


5under 10 


148 299 


lOunderlS 


62, 490 
15. 432 


15 under 20 


20under25 


44 655 


25 under 30 


27, 356 


30under40 






33. 671 


40 under 50 


2 

1 


90.399 
63,597 




50 under 75 


1 


56, 410 


75 under 100 


100 under 250 










250 under 500 










500 under 1,000 


















1,000 and over 




































Total 


29,220 


210, 213. 346 


1,586 


3. 038. 383 


4.671 


43, 312, 740 


195 


630,223 





For footnotes, see p. 143. 



STATISTICS OF INCOME 



141 



Table 8. — Individual returns with net income of $5,000 and over, 1937, by size of 
profit or loss from business (sole proprietorship) and by industrial groups: number 
of businesses with profit or loss and amount of profit or loss — Continued 





Industrial groups— Continued 


Size of profit or loss from 


Trade— Wholesale and retail 


Service— Domestic (laundries, hotels, 
restaurants, etc.) 


business 
(Thousands of dollars) 


Profit 


Loss 


Profit 


Loss 




Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses 1 


Amount 


ISi um- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses ' 


Amount 


UnderO.l-. - 


3 
2 


$129 
241 


2 


$82 


34 

32 

26 

31 

19 

143 

218 

190 

248 

346 

2,350 

321 

88 

51 

19 

15 

5 

4 

2 

1 


$1,818 

4,534 

6,334 

10, 858 

8,376 

106, 854 

321, 299 

483, 320 

868, 577 

1, 572, 426 

15, 562, 038 

3, 817, 687 

1, 500, 284 

1, 142, 306 

514, 703 

496, 154 

210, 210 

253, 395 

174, 606 

100, 078 


29 

17 

28 

16 

12 

74 

78 

34 

15 

9 

14 

4 

3 

1 

2 


$1, 440 


O.limderO.2 


2,389 

7,185 


0.2 under 0.3 -. 


i 

1 


209 
470 


0.3 under 0.4 


1 


303 


5,620 


0.4 under 0.5 


5,380 
53, 796 


5 under 1 


14 

26 

25 

39 

58 

488 

122 

45 

25 

7 

6 

3 

4 


11, 541 

41,988 

64, 703 

136, 024 

264, 386 

3, 343, 837 

1, 476, 167 

757, 656 

540, 371 

198, 009 

215, 524 

127, 084 

256, 697 


3 
6 
1 


2,495 
8,603 
2,179 


1 under 2 


114, 368 


2under 3 


81, 900 


3 under 4 


52, 563 


4 under 5 


1 
6 


4,894 
43, 491 


40, 086 
110,087 


5 under 10 -. --. 


10 under 15 


47, 381 
49, 010 
20, 734 


15 under 20 . . 






20 under 25 






25 under 30 






53,006 


30 under 40 






40 under 50 - 






1 


44,544 


fin nndpr 75 








75 under 100 










100 under 250 


2 


217,072 






1 


131, 762 


250 under 500 








600 under 1,000- - 


















1,000 and over 




































Total 


870 


7, 651, 732 


21 


62, 423 


4,143 


27, 155, 857 


338 


821, 251 









Industrial groups— Continued 


Size of profit of loss from 
business 

(Thousands of dollars) 


Service— Amusements 


Service— Curative (medicinal and all 
other) 


Profit 


Loss 


Profit 


Loss 




Num- 
ber of 
busi- 
nesses 1 


Amount 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses • 


Amount 


Under 0.1-. -. 


14 

13 

14 

7 

8 

51 

84 

91 

93 

152 

925 

220 

92 

50 

33 

22 

12 

11 

2 

7 


$546 

1,658 

3,608 

2,351 

3,595 

38, 576 

125, 415 

225, 128 

326, 245 

684, 247 

6, 408, 318 

2, 648, 956 

1, 578, 763 

1,114,765 

901, 621 

743, 991 

528, 401 

676, 945 

168, 210 

1, 094, 099 


16 

15 

17 

12 

9 

42 

84 

26 

40 

18 

49 

14 

14 

5 

2 

7 

3 

5 


$598 
2,191 
4,404 
4,448 
4,138 
32, 214 

128, 573 
63, 925 

142, 191 
81, 343 
329. 805 
175, 659 
238, 170 
113, 419 
56, 906 
238, 314 

129, 324 
316, 218 


122 

94 

96 

92 

77 

366 

790 

962 

1,134 

1,797 

18, 027 

4,295 

1,274 

516 

226 

164 

61 

30 

4 

2 


$6, 143 

13, 687 

23, 438 

32, 279 

34, 296 

269, 581 

1, 194, 640 

2, 312, 442 

3, 993, 073 

8, 186, 487 

126, 508, 179 

51, 507, 687 

21, 733, 611 

11, 416, 645 

6, 160, 596 

5, 521, 095 

2, 683, 160 

1, 703, 510 

334, 148 

361, 170 


73 

69 

53 

39 

44 

120 

111 

36 

26 

15 

20 

2 

1 

1 


$3,311 


0.1 under 0.2 


9,890 


0.2 under 0.3 




0.3 under 0.4 


13, 313 


0.4 under 0.5 


19, 905 


0.5 under 1 


89, 127 


1 under 2 


158, 724 


2imder 3 


86, 326 


3 under 4 




4 under 5 


66, 407 


5 under 10 . 


135, 371 


10 under 15 


23, 781 


15 under 20 


19, 216 


20 under 25 . 


26, 082 


25 under 30 








30 under 40 








40 under 50 








50 under 75 . 








75imder 100 




1 


110, 580 






100 under 250 








250 under 500 




















500 under 1,000 




















1,000 and over 




















Total 


1,901 


17, 275, 438 


379 


2, 172, 420 


30, 129 


243, 995, 867 


610 


755, 122 



For footnotes, see p. 143. 



142 



STATISTICS OF INCOME 



Table 8. — Individual returns with net income of $5,000 and over, 1937, by size of 
profit or loss from btisiness (sole proprietorship) and by industrial groups: number 
of businesses with profit or loss and amount of profit or loss — Continued 





Industrial groups— Continued 


Size of profit or loss 
from business 

(Thousands of dollars) 


Service — Educational 


Service— Engineer ing 


Profit 


Loss 


Profit 


Loss 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses 1 


Amount 


UnderO.l 


55 
55 
37 
30 
37 
100 
119 
94 
93 
89 
842 
214 
69 
40 
30 
37 
21 
24 
6 
8 


$2, 426 

7,821 

9,048 

10, 149 

16, 649 

75, 641 

174, HI 

231,079 

325, 276 

399, 156 

5, 919, 477 

2, 615, 287 

1, 182. 929 

900, 832 

847, 510 

1, 252, 071 

945, 888 

1, 511, 705 

503, 352 

1, 042, 701 


40 
30 
26 
22 
20 
58 
69 
10 
8 
3 
10 


$2, 018 

4,506 

6,303 

7,708 

9,038 

41, 153 

94, 710 

25, 050 

27, 186 

13, 282 

65, 339 


28 

33 

26 

20 

26 

87 

146 

108 

98 

129 

1,012 

266 

106 

51 

33 

30 

15 

5 

1 

3 


$1, 104 

4,710 

6,325 

6,818 

11, 488 

65, 433 

213. 9.30 

260, 767 

341, 874 

587, 159 

7, 040, 504 

3, 210, 530 

1, 812, 872 

1, 140, 448 

890. 899 

1,022,110 

671, 774 

308, 257 

77, 764 

462, 014 


40 
31 
35 

25 
17 
45 
42 
23 
8 
8 

20 
4 
5 
1 


$1, 939 


1 under 0.2 


4,805 


2 under 0.3 . 


8,570 


0.3 under 0.4 


8,224 


4 under 5 


7,740 




33, 705 




60, 277 


2 under 3 


59, 065 




26, 651 




36, 413 




126,035 


10 under 15 .. 


45, 553 


15 under 20 _ 


1 


18, 737 


81, 721 


20 under 25 . - 


23, 274 


25 under 30 - 








30 under 40 










40 under 50 






1 


48, 248 










75 under 100 










100 under 250 










250 under 500 










500 under 1,000 -- 


















1,000 and over --. 




































Total 


2,000 


17,973,108 


297 


315,030 


2,223 


18, 136, 780 


305 


572, 220 









Industrial groups— Continued 


Size of profit or loss 
from business 


Service— Legal 


Service— All other 


Profit 


Loss 


Profit 


Loss 


(Thousands of dollars) 


Nimi- 
ber of 
busi- 
nesses ■ 


Amount 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Num- 
ber of 

busi- 
nesses 1 


Amount 


Under 0.1 - - - 


170 

159 

138 

112 

104 

477 

793 

707 

740 

817 

5,491 

1,744 

621 

316 

162 

185 

70 

74 

20 

21 

2 


$7, 432 
22, 986 
33, 742 
38, 698 
46,385 
357, 103 
1, 174, 121 

1, 768. 705 

2, 584, 350 

3, 702, 880 
38. 806. 149 
20, 965, 695 
10, 628, 105 

7, 054. 579 

4, 390, 219 
6, 372, 718 
3, 082, 727 
4, 509, 714 
1, 692, 550 
3, 026, 124 

917, 624 


101 
75 
54 
39 
43 
136 
115 
45 
26 
17 
18 
3 


$5,033 

10, 547 

1.3, 489 

13. 774 

19, 551 

97, 006 

165, 851 

112. 169 

90, 517 

75, 391 

122, 467 

40, 142 


34 

41 

46 

27 

29 

1.38 

195 

226 

196 

302 

2,872 

669 

229 

81 

51 

38 

10 

15 

2 

1 


$1, 705 

5.952 

11,407 

9,498 

12. 929 

100, 994 

287,902 

556, 124 

689, 520 

1, 374. 900 

19, 870, 258 

8, 018, 520 

3, 904, 795 

1, 803, 307 

1, 395, 600 

1, 284, 253 

429,547 

918, 053 

193, 129 

122, 153 


26 
29 
22 
16 
6 
58 
37 
23 

5 

7 
1 


$1, 132 


0.1 under 0.2 - 


4,163 


0.2 under 0.3 


5,400 


0.3 under 0.4 


5.612 


0.4 under 0.5 


2,704 


0.5 under 1 - 


39, 946 




51, 710 


2 under 3 . - _ 


56, 491 


3 under 4 - 


23, 516 




21, 759 




41,857 


10 under 15 


83, 222 


15 under 20 


16,928 


20 under 25 


1 


22,100 




25 under 30 - - 






30 under 40 






1 


36, 060 




















75 under 100 






1 


81, 260 


100 under 250 - ... 








250under500 










500 under 1,000 














1,000 and over 




































Total 


12, 923 


111, 182, 606 


673 


788, 037 


5,202 


40, 990, 546 


246 


471, 760 







For footnotes, see p. 143. 



STATISTICS OF INCOME 



143 



Table 8. — Individual returns with net income of $5,000 and over, 1937, by size of 
profit or loss from business (sole proprietorship) and by industrial groups: number 
of busijiesses ivith profit or loss and amount of profit or loss — Continued 





Industrial groups— Continued 


Size of profit or loss from 
business 

(Thousands of dollars) 


Finance— Investment brokers 


Finance— Eeal estate 


Profit 


Loss 


Profit 


Loss 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Niun- 
ber of 
busi- 
nesses 1 


Amount 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Under 0.1 . . 


2 
2 
6 
6 
6 

24 

25 

34 

36 

20 

210 

79 

49 

33 

22 

14 

7 

3 

1 


$182 

288 

1,661 

2,036 

2,833 

17, 929 

37, 539 

84, 928 

126, 850 

91, 783 

1, 514, 775 

954, 442 

842, 291 

729, 660 

585, 105 

468, 512 

306, 167 

172, 453 

77, 738 


2 
3 

7 
9 
6 
17 
19 
14 
18 
4 
12 
3 
4 
5 
2 
2 


$160 

453 

1,762 

3,100 

2,655 

11,331 

28, 127 

36,713 

61, 287 

18, 611 

78, 330 

36, 995 

66, 129 

107, 583 

54, 500 

74, 072 


37 

28 

28 

23 

31 

104 

211 

169 

161 

163 

886 

193 

77 

36 

12 

12 

7 

3 

1 


$2, 203 

3,984 

6,812 

8,229 

13, 860 

75, 574 

319, 349 

425, 628 

559, 321 

736, 402 

6, 072, 860 

2, 335, 162 

1, 307, 634 

800, 303 

331, 652 

420, 828 

307, 748 

196, 772 

94,119 


22 
36 
30 
29 
18 
83 
66 
39 
22 
16 
41 
20 


$1,001 
5,315 
7,456 

10, 227 
7.910 


0.1 under 0.2 . . . . 


0.2 under 0.3 . 


0.3 under 0.4 . 


0.4 under 0.5 


0.5 under 1 


61,481 


1 under 2 ...... 


94, 695 


2under3 _ 


95, 242 


3 under 4 


77 401 


4 under 5 _ - 


70, 406 


5 under 10 


278, 691 


10 under 15 - 


283, 646 


15 under 20 


20 under 25 _ 


3 
2 
1 


64, 535 
53, 315 


25 under 30 


30 under 40 


31, 065 


10 under 50 




50 under 75 . . 


1 


71, 557 


3 


190, 516 


75 under 100 - . - 




100 under 250 . - - 


1 


176, 761 






250 under .500 














500 under 1, 000 


















1,000 and over . . ... 




































Total 


579 


6, 017, 172 


129 


830, 126 


2,182 


14,018,440 


431 


1, 332, 902 





Industrial groups— Continued 


Size of profit or loss from 


Finance— All other 


Nature of business not given 


business 
(Thousands of dollars) 


Profit 


Loss 


Profit 


Loss 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses ' 


Amount 


Ntmi- 
ber of 
busi- 
nesses ' 


Amount 


Num- 
ber of 
busi- 
nesses 1 


Amount 


Under 0.1 . 


64 

61 

61 

47 

50 

215 

331 

285 

290 

343 

2,303 

596 

227 

105 

48 

51 

13 

18 

3 

4 

2 


$3, 290 
9,458 

15, 057 

16, 572 
21,954 

162, 586 

491, 020 

709, 758 

1,014,774 

1,541,191 

16,092,726 

7, 088, 395 

3, 923, 687 

2, 328, 887 

1, 308, 632 

1, 757, 472 

566, 667 

1, 061, 675 

270, 358 

480, 719 

610, 406 


27 

31 

21 

14 

12 

52 

56 

33 

19 

13 

22 

6 

5 

7 

1 

2 


$1, 252 

4,503 

5,138 

4,885 

5,594 

38, 019 

76, 959 

83, 017 

66, 886 

58, 031 

147, 852 

71,895 

89, 415 

150, 876 

26, 798 

78, 350 


225 

132 

115 

71 

66 

276 

323 

333 

307 

321 

2,047 

472 

188 

89 

55 

68 

27 

30 

12 

5 

3 


$9, 808 
18, 802 

28, 374 
24, 778 

29, 582 
202, 078 
474, 696 
822, 080 

1, 084, 714 
1, 454, 720 
13, 970, 896 
5, 665, 194 
3, 238, 524 
2, 000, 393 
1, 492, 644 
2, 294, 737 
1,199,474 
1,812,040 
1, 053, 769 
809, 130 
1, 017, 100 


191 

144 

134 

104 

76 

266 

287 

142 

63 

40 

104 

30 

16 

8 

6 

6 

7 

1 


$8, 294 


0.1 under 0.2.. .. ... . 


21,321 


0.2 under 0.3 . 


32, 426 


0.3 under 0.4 


35, 580 


0.4 under 0.5 . 


33, 675 


0.5 under 1 


189,211 


1 under 2 

2under 3 


410, 570 
344, 429 


3 under 4 


219,571 


4 under 5 


176, 464 


5 under 10 . 


733, 656 


10 under 15 


368, 752 


15 under 20 


283, 891 


20 under 25 


181, 144 


25 under 30 


163, 738 


30 under 40 


198, 775 


40 under 50 


316,982 


.50 under 75 


1 
2 


55, 651 
183, 636 


51, 903 


75 under 100 




100 under 250 


2 


297, 634 


250 under 500 


1 


255, 477 


500 under 1,000 






1,000 and over 




































Total 


5,117 


39, 475, 284 


325 


1, 404, 234 


5,165 


38, 703, 533 


1,627 


4, 068, 016 





' If two or more businesses in different industrial groups are reported on one return, each business is 
counted separately. Consequently the number of businesses exceeds the number of returns reporting 
business profit or loss. 



144 



STATISTICS OF INCOME 



Table 9. — Individual returns ' with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years 



Net income classes 
(Thousands of dollars) 



Alabama 



Number 

of 
returns 



Net income 



Total tax 



Arizona 



Number 

of 
returns 



Net income 



Total tax 



Under 1 (est.)'— - 

Under 1 (est.) 

1 under 2 (est.)'... 

1 under 2 (est.) 

2 under 2.5 (est.)'. 

2 under 2.5 (est.).. 
2.5 under 3 (est.)'. 
2.5 under 3 (est.).. 

3 under 4 (est.)'... 

3 under 4 (est.) 

4 under 5 (est.)'... 

4 under 5 (est.) 

5 under 6' 

5 under 6. 

6 under 7 

7 under 8 

8 under 9 

Sunder 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000.._. 
1,000 under 2,000.. 
2,000 under 3,000 _. 
3,000 under 4,000-. 
4,000 under 5,000.- 

5,000 and over 

Classes grouped s.. 

Total 



Summary for prior years: * 

1936 

1935 

1934 

1933.. 

1932 

1931 

1930-.. 

1929... 

1928.... 

1927.. 



1,606 

146 

6,968 

7,308 

2,659 

1,605 

5,004 

1,293 

2,810 

3,559 

168 

2,403 

4 

1,137 

753 

530 

352 

253 

225 

152 

138 

107 

84 

275 

167 

69 

93 

30 

22 

18 

7 

3 

1 

7 

3 



$1, 091, 494 

78, 719 

9, 587, 414 

10, 937, 045 
6, 054, 729 
3, 542, 350 

13, 630, 688 
3, 618, 194 
9, 332, 008 

12, 413, 230 
713, 173 

10, 712, 714 
21, 636 
6, 236, 074 
4, 863, 773 
3, 956, 051 
2, 981, 618 
2, 398, 252 

2, 356, 475 
1, 742, 306 
1, 719, 552 
1, 446, 241 
1, 214, 848 
4, 736, 436 

3, 732, 818 
1, 890, 677 
3, 202, 078 
1, 300, 843 
1, 210, 171 
1, 160, 636 

532, 374 
254, 853 

822, 816 
(') 



$2, 637 
" 103,' 567' 



60, 811 
"34,"857 



105, 382 



135, 031 



108, 505 
103, 121 
107, 706 
100,288 
90, 389 
10.3,811 
85,468 
88. 892 
82, 701 
71,951 
334, 642 
333, 356 
204, 956 
432, 437 
205, 106 
221, 350 
254, 026 
133, 517 
72, 526 
(») 

302, 097 
(3) 



971 

30 

3,058 

4,067 

1,552 

1,051 

2,588 

859 

1,265 

2,074 

90 

1,258 

4 

704 

384 

194 

129 

89 

67 

47 

50 

33 

33 

98 

41 

21 

26 

7 

8 

6 

1 



$631, 443 

15, 501 

4,476,310 

6, 428, 078 

3, 523, 755 

2, 314, 935 

7,031,456 

2, 396, 651 

4,161,011 

7, 225, 002 

384,711 

5, 619, 102 

21, 727 

3, 851, 234 

2, 481, 863 

1, 447, 045 

1, 096, 515 

843, 807 

702, 166 

536, 937 

630, 445 

443, 159 

477, 187 

1, 675, 154 

902, 712 

579, 345 

895, 460 

292, 138 

430, 920 

383, 151 

(') 



634, 985 



276, 863 



533, 133 



39, 959 



130, 127, 271 



4, 155, 993 



20, 809 



62, 432, 053 



31,712 
26, 141 
23, 072 
19, 962 
20, 680 
19, 532 
22. 605 
25, 818 
26, 891 
27, 992 



106, 647, 588 
80, 443, 944 
69, 229, 199 
53, 673. 478 
54, 020, 284 
70, 309, 297 
93, 900, 510 
122, 569, 172 
142, 167, 220 
133, 224, 614 



3, 434, 836 
1, 701, 528 
1, 407, 104 

978, 404 
769, 932 
640, 467 

1, 353, 584 

2, 087, 718 

4, 035, 792 
2, 456, 166 



16, 842 
13, 941 
11, 378 
8,588 
8,900 
8,035 
10, 590 
12, 448 
11, 527 
11, 059 



51, 444, 492 
38, 298, 031 
29, 802, 959 
20,851 766 
23, 354, 960 
28, 745, 823 
42, 775, 084 
60, 788, 434 
58, 368, 659 
45, 837, 158 



$497 
'63,"534 



35,956 



27,081 
"77,991 



85, 774 



81, 391 
67, 033 
50,204 
48, 524 
41, 549 
36, 262 
29. 218 
37. 633 
27, 548 
33. 337 

126,817 
84, 788 
67, 740 

123, 823 
45, 623 
80, 610 
84,220 

(') 



185,014 



1, 542, 167 



1, 429. 247 
647, 859 
391, 723 
265, 635 
305, 405 
247, 280 
584, 274 
1,113.778 
1, 600, 309 
997, 800 



For footnotes, see p. 168. 



STATISTICS OF INCOME 



145 



Table 9. — Individual returns ^ with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 


Arkansas 


California 


Number 

of 
returns 


Net income 


Total tax 


Number 

of 
returns 


Net income 


Total tax 


Under 1 (est.) » 


915 

71 

2,687 

2,451 

1,664 

427 

2,602 

723 

1,269 

2,033 

68 

1,142 

5 

626 

432 

286 

207 

149 

110 

108 

88 

47 

45 

161 

64 

46 

35 

20 

7 

6 

4 


$590, 157 

31, 559 

3, 826, 203 

3,608,063 

3, 821, 575 

952, 522 
7, 048, 459 
2, 039, 563 
4, 203, 403 
7, 077, 473 

287, 575 
5, 102, 296 
26,287 
3, 403, 269 
2, 800, 266 
2, 147, 979 
1, 755, 898 

1, 412, 171 
1,152,455 
1, 239, 215 
1, 099, 141 

634, 220 
651, 172 

2, 730, 212 
1, 428, 243 
1, 244, 717 
1,204,409 

896, 902 
385, 553 
384,045 
296,991 




23, 318 

1,211 

81,855 

120, 351 

31, 149 

20,351 

45, 727 

20, 586 

22, 078 

48,840 

891 

31, 878 

34 

19, 175 

11,714 

6,615 

4,253 

3,101 

2,340 

1,850 

1,487 

1,243 

1,091 

3,369 

1,760 

1,074 

1,158 

570 

378 

231 

143 

91 

66 

159 

56 

14 

15 

7 

3 

2 


$15, 565, 316 

625, 632 

114, 308, 022 

176, 547, 671 

70, 832, 118 

45,011,415 

124, 451, 810 

57, 721, 430 

72, 491, 829 

169, 714, 853 

3, 772, 287 

142, 620, 068 

183, 322 

104, 776, 145 

75, 551, 205 

49, 292, 036 

35, 966, 884 

29, 355, 566 

24, 509, 283 

21, 224, 280 

18, 570, 590 

16, 754, 094 

15, 817, 815 

67,804,386 

39, 154, 451 

29, 303, 257 

39. 693. 961 

25, 313, 739 

20, 642, 924 

14, 917, 530 

10, 627, 807 

7, 713, 528 

6, 176, 017 

18,784,857 

9, 331, 858 

3, 014, 230 

4, 069, 157 

2, 538, 472 

(3) 

(3) 




Under 1 (est.)... 


$1, 079 


$18, 647 


1 under 2 (est.)' 




1 under 2 (est.) 


31,404 


1, 600, 608 


2 under 2.5 (est.)' 




2 under 2.5 (est.) 


16, 352 


738, 213 


2.5 under 3 (est.)' — 




2.5 under 3 (est.) 


17, 907 


692, 920 


3 under 4 (est.)' 




3 under 4 (est.). 


51, 865 


1, 860, 702 


4 under 5(est.)' 




4 under 5 (est.) 


64, 722 


2, 368, 539 


5 under 6 '.- 




5 under 6 


56, 702 
60, 978 
58, 563 
57, 343 
54, 253 
50, 883 

57, 936 
57,887 
37, 499 
39, 093 

189, 267 
127, 542 
132, 583 
160, 029 
144, 745 
73, 898 
82, 549 
72, 427 


2, 196, 226 


6 under 7 


1, 998, 721 


7 under S 


1, 659, 531 


8 under 9 


1,571,335 


9 under 10_ 


1, 383, 673 


10 under 11 


1, 273, 663 


11 under 12 


1, 184, 814 


12 under 13 


1, 112, 185 


13 under 14 


1, 067, 509 


14 under 15 


1,060,471 


15 under 20 


4,437,330 


20 under 25 


3, 726, 933 


25 under 30 


3, 359, 329 


sounder 40 


6, 484, 455 


40 under 50 


4, 210, 292 


SO under 60 


4, 031, 566 


60 under 70 


3, 326, 953 


70 under 80 


2, 659, 307 


80 under 90. 


2, 193, 043 


90 under 100 


1 
1 
2 


(3) 
(3) 


(') 
(') 
(3) 


1, 921, 062 


100 under 150 


6, 996, 425 


150 under 200 


4, 154, 321 


200 under 250.. 


1, 480, 610 


250 under 300 








2, 145, 184 


300 under 400 








1, 445, 627 


400 under 500 








(') 


600 under 750 . ... 








(') 


750 under 1,000 ... . 










1,000 under 1,500 ... .. 














1,500 under 2,000 














2,000 under 3,000 ... 














3,000 under 4,000 














4,000 under 5.000 














5,000 and over 














Classes grouped ' 




672, 315 


236,639 




2, 700, 222 


1, 676, 582 










Total 


18,502 


64,054,308 


1,934,035 


510, 224 


1,677,450,067 


74, 835, 666 






Summary for prior years: * 
1936... 


16, 587 
14, 085 
13, 318 
11,427 
10, 350 
9,873 
12, 490 
15, 813 
16, 660 
17, 331 


61, 156, 625 
43, 351, 163 
38, 885, 585 
29, 366, 515 
24, 716, 119 
29, 256, 385 
43, 282, 986 
68, 910, 936 
71, 689, 792 
75, 553, 896 


2,073,666 
796, 832 
677, 515 
370, 043 
215, 937 
107, 830 
241, 787 
712, 954 
877, 747 

1, 339, 952 


436, 128 
367, 757 

315, 766 
286, 580 
295, 650 
248, 722 
293, 048 
309, 047 

316, 738 
315, 666 


1, 494. 599, 201 

1, 172, 303, 199 

968,067,116 

785, 354, 006 

841, 047, 708 

967, 099, 004 

1, 330, 603, 655 

1, 689, 896. 424 

1, 765, 573, 139 

1, 582, 576, 258 


76, 428, 350 


1935 


42, 033, 332 


1934 


33, 380, 393 


1933 


21, 444, 162 


1932 


21, 635, 950 


1931.. 


14, 732, 280 


1930 


27, 136, 057 


1929... 


45, 360, 278 


1928.... 


63, 707, 136 


1927 


46, 044, 994 







For footnotes, see p. 168. 



146 



STATISTICS OF INCOME 



Table 9. — Individual returns^ with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



Colorado 



Number 
of returns 



Net Income 



Total tax 



Connecticut 



Number 
of returns 



Net income 



Under 1 (est.) 2-.-. 

Underl (est.) 

1 under 2 (est.) '... 

1 under 2 (est.) 

2 under 2.5 (est.) K 

2 under 2.5 (est.)-. 
2.5 under 3 (est.) 2. 
2.5 under 3 (est.)-- 

3 under 4 (est.) 2_.. 

3 under 4 (est.) 

4 under 5 (est.) '... 

4 under 5 (est.) 

Sunder 62 

5 under 6 

6 under? 

7 under 8 

8under9 

9under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

sounder 40 

40 under 50 

sounder 60 

60 under 70 

70 undergo 

80 under 90. 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

SOO under 750 

750 under 1,000.... 
1,000 under 1,500.. 
1,500 under 2,000.. 
2,000 under 3,000.. 
3,000 under 4,000.. 
4,000 under 5,000.. 

5,000 and over 

Classes erouped ^. 

Total 



Summary for prior years: * 

1936 

1935 

1934 

1933 

1932 

1931. 

1930 

1929 

1928 

1927 



2,271 

22S 

7,566 

9,172 

3,324 

1,439 

4,730 

1,875 

2,430 

4,164 

96 

2,449 

4 

1,424 

1,011 

684 

453 

320 

263 

165 

170 

127 

108 

374 

167 

102 

100 

51 

30 

16 

16 

10 

6 

11 

6 

4 

1 

1 

1 

4 

1 



$1, 457, 630 
114, 594 

10, 781, 338 

13, 365, 286 
7, 536, 342 
3, 184, 390 

12, 840, 791 

5, 270, 201 
8, 003, 636 

14,435,911 

414, 378 

10, 922, 826 

21, 502 

7, 789, 079 

6, 538, 973 
5. 107, 172 
3, 841, 973 
3, 036, 742 

2, 754, 376 
1, 899. 400 
2, 120, 378 
1, 714, 029 

1, 562, 394 
6, 378, 578 

3. 713, 787 

2, 795, 728 

3, 389, 802 
2, 252, 980 
1, 651, 028 
1, 029, 993 
1, 189, 339 

854, 889 

558, 996 

1, 410, 082 

1, 055, 901 
888, 707 
(3) 

(') 

2, 339, 560 



$3, 807 
" 113," 334 



53, 701 
'46,798' 



127, 301 
" 148," 320 



141,777 
147,115 
145, 630 
128, 663 

123. 146 
123, 194 

91, 886 
115,670 
100, 038 

97, 768 
451, 335 
333, 424 
311,3.58 
449, 605 
366, 974 
319, 321 

224. 147 
295. 507 
246, 186 
171, 645 
553, 110 
476. 408 
443, 527 

(') 

e) 

1, 467, 852 
(3) 



4,957 

1,135 

36, 050 

38, 683 

6,833 

4,243 

11,958 

4,740 

5,997 

9,181 

283 

4,910 

12 

3,668 

2,484 

1,770 

1, 196 

1,009 

759 

608 

490 

419 

374 

1,204 

654 

455 

446 

256 

149 

139 

74 

48 

24 

79 

37 

9 

9 

5 

10 

4 

1 

1 



$3, 599, 488 

524, 945 

46, 202, 621 

54, 060, 727 

15, 504, 513 
9, 400, 918 

32, 416, 370 
13, 287, 093 
19,811,727 
31, 720, 578 

1, 216, 316 
21, 898, 496 

63, 260 
20, 020, 028 

16, 058, 625 

13, 213, 352 
10, 127, 479 

9, 583, 356 
7, 950, 305 
6, 966, 234 
6,111,019 
5. 660, 982 
5, 418, 737 
20, 828, 685 

14, 569. 809 
12, 409, 422 

15, 354, 753 
11, 380, 985 

8,119.474 
9, 073, 201 

5, 526, 684 
4, 027, 591 

2, 260, 441 
9, 471, 918 

6, 250, 945 

1, 960, 230 

2, 483, 655 
1, 749, 777 
4, 379, 178 

(3) 
(3) 
(3) 



1, 939, 553 



1, 191, 522 



4, 320, 477 



45, 371 



156, 162, 264 



9, 010, 069 



145, 363 



484, 984, 394 



40,332 
33, 475 
31, 232 
28, 725 

30, 537 
25, 279 
28, 986 

31, 268 
31,091 
31, 727 



146, 498, ,541 
108, 379, 317 
94, 502, 319 
74, 445, 866 
82, 077, 771 
96, 661, 700 
125, 795, 609 
158, 751, 528 
158, 931, 875 
148, 473, 486 



8, 934, 634 
4, 057, 259 
3. 281, 526 
1, 710, 477 
1,815.932 

1, 378, 043 

2, 439, 796 

3, 534, 404 

4, 459, 057 
3, 307, 180 



121,805 
100,898 
91, 352 

81, 850 
86. 308 
65, 306 
74, 821 

82. 049 
81, 063 
77, 778 



439, 105, 953 
340, 303, 213 
288, 693, 183 
257, 310, 810 
274, 908, 669 
309, 351, 262 
400, 674, 216 
.561, 547, 753 
522, 496, 528 
451, 001, 651 



For footnotes, see p. 168. 



STATISTICS OF INCOME 



147 



Table 9. — Individual returns * with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued • 



Net income classes 
(Thousands of dollars) 



Delaware 



Number 
of returns 



Net income 



Total tax 



District of Columbia 



Number 
of returns 



Net income 



Under 1 (est.) 2- — 

Under 1 (est.) 

1 under 2 (est.) 2-. 

1 under 2 (est.) 

2 under 2.5 (est.) 2- 

2 under 2.5 (est.).. 
2.5 under 3 (est.) K 
2.5 under 3 (est.).. 
Bunder 4 (est.)'... 

3 under 4 (est.) 

4 under 5 (est.) *... 

4 under 5 (est.) 

Sunder 6 2 

5 under 6 

6under 7 

7under 8 

Sunder 9 

9under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500.. 
1,500 under 2,000.. 
2,000 under 3,000.. 
3,000 under 4,000.. 
4,000 under 5,000.. 

5,000 and over 

Classes grouped '.. 



Total. 



Summary for prior years:* 

1936 

1935 . . 

1934 . 

1933 

1932 . 

1931 

1930 

1929.._. 

1928 

1927 



704 

281 

2,436 

3,705 

927 

658 

1,463 

839 

717 

1,483 

52 

905 

1 

517 

370 

239 

172 

164 

109 

97 

71 

66 

63 

215 

128 

78 

87 

59 

49 

25 

22 

14 

8 

40 

25 

13 

4 

5 

4 

12 
3 
5 
1 



$491, 406 

133, 810 

3, 359, 087 

5, 399, 908 
2, 108, 019 

1, 457, 782 
3, 963, 897 

2, 349, 572 
2, 365, 389 
5, 125, 385 

228, 204 
4, 016, 187 

2, 825, 075 

2, 389, 022 
1,781,002 
1, 453, 599 

1, 553, 887 
1, 140, 324 
1,117,945 

887, 642 

888, 763 
912, 441 

3, 693, 456 

2, 878, 106 
2,118,150 
2, 990, 439 
2, 624, 808 
2, 701, 521 
1, 628, 073 

1, 649, 697 
1, 197, 613 

767, 347 

4, 961, 086 
4. 479, 007 

2, 984, 663 
1, 117, 281 
1. 736, 834 
1, 723, 828 
7, 622, 208 

(3) 

6, 759, 423 
(3) 



$4, 816 



50, 133 



25, 071 



24, 019 



48, 977 



56, 537 



53,400 

56, 428 

53, 875 

50, 148 

61,811 

50, 772 

55, 219 

49, 101 

50, 061 

56, 159 

270, 943 

274, 072 

231, 313 

411,499 

432, 262 

528, 816 

367, 075 

422. 314 

341, 720 

243, 842 

1, 908, 817 

2, 055, 931 
1, 491, 203 

594,811 

979, 462 

1, 020, 491 

4, 850, 916 

(3) 
4, 748, 642 



2,347 

507 

15, 564 

34, 941 

5,099 

4,841 

8,641 

5,475 

4,980 

12, 091 

335 

6,066 

4 

3,169 

1,771 

1,055 

683 

509 

365 

258 

221 

198 

157 

502 

265 

181 

175 

84 

52 

36 

20 

21 

11 

22 

4 

5 

1 

1 



$1, 657, 526 
253, 664 

22, 348, 860 
51, 416, 228 
11,634,345 
10, 667, 538 

23, 435, 435 

15, 306, 658 

16, 337, 995 
41, 793, 806 

1, 426, 113 
27, 106, 463 

20, 782 

17, 298. 683 
11,426,672 

7, 858, 928 
5, 777, 123 

4, 813, 488 

3, 815, 709 

2, 959, 190 
2, 763, 784 
2, 666, 525 

2, 277, 373 

8, 602, 025 

5, 889, 097 

4, 942, 319 

6, 053, 391 

3, 709, 971 
2, 840, 593 
2, 346, 160 
1, 483, 346 
1, 773, 806 
1, 032, 409 
2,784,207 

648, 977 
1, 176, 712 
(S) 
(3) 



(') 



4, 759, 806 



3, 298, 161 



1, 570, 012 



16, 836 



104, 341, 692 



25, 218, 817 



no, 658 



329, 915, 913 



13, 739 
11,371 
10, 620 
9,910 
9,822 
8,284 
9,342 
9,780 
9,592 
9,266 



96, 694, 780 
64, 759, 925 
55, 073, 452 

45, 536, 527 

46, 026, 220 
51, 044, 537 
64, 913, 288 

148, 850, 300 
107, 335, 477 
90, 262, 899 



25, 538, 755 
11,401,715 
9, 312, 466 
5, 042, 284 
4, 396, 328 

2, 283, 901 

3, 927, 732 
14, 524, 946 
10, 592, 886 

7, 970, 035 



106, 863 
95, 271 
82, 871 
69, 967 
73, 501 
51, 920 
51, 044 
48, 087 
44, 183 
39, 560 



327, 467, 666 
268, 667, 106 
234, 925, 250 
192. 795, 436 
213, 475, 879 
200, 628, 347 
217, 558, 448 
242, 282, 698 
227, 620, 606 
198, 938, 042 



For footnotes, see p. 168. 



148 



STATISTICS OF INCOME 



Table 9. — Individual returns * with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



Florida 



Number 
of returns 



Net income 



Total tax 



Georgia 



Nmnber 
returns 



Net income 



Under 1 (est. )».... 

Under 1 (est.) 

1 under 2 (est.)'... 

1 under 2 (est.) 

2 under 2.5 (est.)'. 

2 under 2.5 (est.).- 
2.5 under 3 (est.)'. 
2.5 under 3 (est.).. 

3 under 4 (est.)'... 

3 under 4 (est.) 

4 under 5 (est.)'... 

4 under 5 (est.) 

Sunder 6' 

Sunder 6 

6 under 7 

7 under 8 

Sunder 9 

9 under 10 

10 under 11 

11 under 12.. 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

sounder 40. 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90. 

90 under 100. 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000.... 
1,000 under 1,500.. 
1,500 under 2,000.. 
2,000 under 3,000-. 
3,000 under 4,000.. 
4,000 under 5,000.. 

5,000 and over 

Classes grouped '. 

Total 



Summary for prior years:* 

1936 

1935 

1934 

1933.. 

1932 

1931 

1930 

1929 

1928 

1927.. 



2,820 

393 

7,325 

7,560 

3,533 

1,654 

5,433 

1,890 

3,278 

5,645 

211 

3,422 

10 

2,049 

1,505 

1,056 

765 

554 

436 

356 

284 

234 

201 

662 

341 

239 

237 

139 

73 

41 

37 

26 

21 

41 

14 

12 

2 

7 

3 

5 

2 



$1, 789, 944 
201,379 
10, 490, 632 
11,060,845 
7, 991, 394 
3, 663, 719 

14, 750, 222 

5, 316, 441 

10, 830, 923 
19, 301, 948 

899, 661 

15, 306, 337 

54,474 

11, 214, 175 
9, 737, 106 
7, 884, 035 

6, 477, 055 

5, 255, 237 
4, 561, 635 
4, 088, 430 

3, 544, 480 
3, 159, 645 
2, 907, 969 

11, 302, 086 

7, 639, 249 

6, 510, 230 
8, 135, 763 
6, 199, 659 

4, 030, 918 
2, 623, 826 
2, 744, 245 
2,199,633 

1, 986, 863 
4. 919, 467 
2, 318, 242 
2, 680, 331 

(3) 

2, 207, 138 
1, 365, 401 
2, 882, 705 



$6, 862 
'98,"42i" 



61, 643 
"48,'80i" 
"i67,'566' 



204, 539 



212, 143 

221, 377 

220,445 

219, 118 

208, 183 

206, 837 

204, 615 

190, 031 

180, 939 

174, 286 

804, 474 

691,484 

718, 684 

1, 100, 377 

1, 021, 782 

785, 736 

578, 329 

686, 738 

625,908 

621, 206 

1, 841, 105 

1, 028, 756 

1,333,271 

(3) 

1,213,414 

815, 872 

1, 805, 640 



2,178 

263 

9,141 

7,426 

3,783 

2,037 

8,216 

1,588 

4,547 

5,777 

266 

4,384 

7 

1,736 

1,187 

825 

601 

456 

344 

276 

206 

151 

142 

497 

263 

128 

160 

64 

42 

19 

15 

2 

11 

21 

5 

1 

2 



$1, 504, 656 

140, 128 

12, 672, 843 

11, 682, 625 

8, 640, 591 
4, 511, 668 

22, 329, 912 
4, 416, 953 

15, 046, 750 

20, 328, 000 
1, 118, 576 

19, 569, 132 
36, 118 

9, 498, 684 

7, 681, 743 
6, 155, 493 
5, 100, 426 

4, 333, 540 
3, 604, 464 
3, 164, 287 
2, 567, 499 

2, 036, 955 
2, 058, 819 

8, 591, 042 

5, 856, 061 

3, 487, 976 
5, 480, 321 
2, 830, 975 
2, 314, 682 

1, 217, 503 
1, 121, 115 

(3) 
1, 048, 089 

2, 709, 251 
884, 502 
(») 

(') 



(3) 



(3) 



(3) 



4, 397, 081 



2,987,992 



1, 312, 164 



62, 417 



234, 630, 523 



21, 286, 514 



56, 768 



205, 053, 443 



44,048 
38, 021 
32, 550 

28, 775 

29, 303 
25, 340 
28, 133 
30, 040 
32, 155 
40, 080 



197, 705, 207 
144, 693, 408 
112, 102, 614 
84, 718, 099 
88, 451, 612 
105, 215, 176 
126, 910, 394 
164, 355. 108 
178, 843, 603 
206, 917, 657 



18, 608, 221 
8, 933, 457 
5, 597, 287 
2, 671, 623 
2, 557, 631 
2, 219, 520 
2, 840, 391 
5, 936, 377 
7, 714, 261 
6, 047, 244 



49, 512 
46, 702 
38, 137 
32, 229 

31, 730 
25, 729 
28, 996 

32, 289 
32, 921 
33,818 



181, 626, 423 
150, 963, 172 
122, 612, 284 
94, S92, 882 
92, 882, 516 
102, 907, 022 
128,081,049 
163,181,491 
167, 063, 587 
167. 407, 479 



For footnotes, see p. 168. 



STATISTICS OF INCOME 



149 



Table 9. — Individual returns * with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 


Hawaii 


Idaho 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Under 1 (est.)' 


995 

195 

2,730 

2,924 

1,094 

768 

1,451 

564 

1,174 

1,741 

138 

1,271 

11 

618 

411 

239 

162 

127 

92 

78 

73 

61 

45 

147 

83 

44 

47 

33 

20 

14 

10 

11 

6 

11 

4 

1 


$632, 157 
81, 066 

3, 744, 571 

4, 288, 435 
2, 475, 754 
1, 695, 334 
3,958,090 
1, 570, 578 
3, 960, 985 
6, 122, 668 

599, 326 

5, 631, 153 

58, 945 

3, 377, 292 

2, 651, 385 

1, 788, 272 

1, 374, 242 

1, 199, 023 

962, 669 

892, 170 

913, 307 

823, 986 

650, 498 

2,543,943 

1, 841, 450 

1, 207, 688 

1, 623, 943 

1, 446, 982 

1, 097, 410 

881, 710 

748, 594 

920, 863 

567, 325 

1, 293, 445 

(5) 

(3) 




315 

7 

2,669 

3,793 

635 

588 

2,089 

655 

969 

1,641 

61 

1,004 

1 

535 

284 

131 

70 

43 

39 

27 

25 

11 

9 

39 

19 

9 

12 


$190,089 
4,764 
3, 617, 646 
5, 621, 724 
1, 426, 066 
1,304,933 
6,678,094 
1, 833, 374 
3,215,872 
5, 739, 166 

264,654 
4, 484, 751 

(3) 
2, 923, 218 
1, 825, 724 

976, 621 

589, 920 

409, 466 

410, 302 
308, 810 
311, 166 
149, 069 
128, 534 
657, 428 
425, 264 
250. 141 
403, 024 




Under 1 (est.) 


$2, 908 


$119 


1 under 2 (est.)' 




1 under 2 (est.) 


39, 475 


47, 141 


2 under 2.5 (est.)' 




2 nndpr 9. 5 (pfit "> 


27, 976 


19, 208 


2.5 under 3 (est.)' 




2.5 under 3 (est.) 


20, 998 


17, 486 


3 under 4 (est.)' 


3 iindpr 4 (fist.l 


69, 536 


63, 667 


4 under 5 (est.)'.-- 




4 under 5 (est.)— 


65, 642 


69, 181 


5 under 6 ' 




5 under 6 


57, 895 

60, 110 

48, 241 

45, 136 

45, 274 

43,286 

43, 656 

48, 174 

46, 694 

38, 869 

186, 074 

165, 867 

133, 769 

220, 551 

230, 145 

210, 240 

188, 479 

190, 955 

257, 620 

175,916 

478, 644 

(3) 


58, 102 


fi nndfir 7 


47, 022 


7 iindfir 8 


32, 292 


8 under 9 


24, 924 


9 nndftr 10 . 


19, 099 


10 under 11. 


22, 231 


11 under 12 


17, 226 


12underl3 


18,849 


13 under 14 


10, 160 


14under 15 


8,881 


ISimder 20 -. 


60, 280 


20 under 25 -— 


41, 984 


25 under 30.- 


29, 745 


30 under 40 . . 


56, 322 


40 under 50 




50 under 60 


2 


(3) 


(J) 


60under70 




70under80-. 


1 


(3) 


(') 


80under90 




90 under 100 








100 under 150 








150 under 200 -. 








200 under 250 -. 








250 under 300- - 








300 under 400 


1 


(3) 


. (') 








400under500 








500 under 750 














750 under 1.000- -. 














1,000 under 1,500 














1,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000 - .. 














4,000 under 5,000 




























Classes grouped ' 




1, 199, 610 


577, 008 




186, 669 


39, 417 










Total 


17, 394 


64,824,869 


3,709,136 


15, 683 


43, 335, 468 


693, 336 






Summary for prior years: * 
1936 


15, 214 
13, 262 
11, 252 
10, 835 
12, 192 
7,328 
7,869 
8,210 
8.047 
9,252 


58, 737, 567 
46, 901, 822 
37, 515, 719 
34, 357, 940 
37, 277, 185 
33, 869, 092 
37, 245. 940 
43, 290, 997 
43. 349. 731 
44,618.510 


4, 408, 203 
2, 396, 253 
1,563,069 
1, 140, 546 
1, 101, 535 
815, 673 
972, 216 
1, 220, 345 
1,311,756 
1, 200, 544 


14, 201 
11, 005 
8,932 
6,072 
5,788 
5,684 
7,852 
9,830 
9,808 
10, 673 


41, 692, 504 
29, 803, 013 
23, 636, 891 
14, 582, 154 
13, 688, 578 
18, 350, 071 
27, 757, 374 
38,525,958 
37, 121, 872 
38, 448, 758 


752, 433 
351, 103 


1935. -- 


1934 


281, 770 


1933 - 


130, 027 


1932 


97, 113 


1931 -... 


46,045 


1930 


128, 290 


1929-..- 


184, 326 


1928— 


283, 172 


1927 


247, 272 







For footnotes, see p. 168. 



150 



STATISTICS OF INCOME 



Table 9.— Individual returns ^ with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



Illinois 



Number 
of returns 



Net income 



Total tax 



Indiana 



Number 
of returns 



Net income 



Total tax 



Under 1 (est.)* 

Under 1 (est.) 

1 under 2 (est.)^ 

1 under 2 (est.) 

2 under 2.5 (est.)'... 

2 under 2.5 (est.) 

2.5 under 3 (est.)2... 
2.5 under 3 (est.) 

3 under 4 (est.)' 

3 under 4 (est.) 

4 under 5 (est.)* 

4 under 5 (est.) 

5 under 6 2 

5 under 6 

6 under 7 .». 

7 under 8-- 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500- _ 

500 under 750 

750 under 1,000 

1,000 under 1,500 

1,500 under 2,000 

2,000 under 3,000 

3,000 under 4,000 

4,000 under 5,000 

5,000 and over 

Classes grouped ' 



Total. 



Summary for prior years: * 

1936 

1935 

1934 

1933 

1932 

1931 

1930 

1929 - 

1928 

1927.... 



17, 073 

2,128 

87, 859 

101, 785 

29,497 

27, 667 

53, 698 

17, 658 

26, 763 

43, 960 

1,410 

33, 240 

27 

15, 227 

9,873 

6,920 

4,864 

3,685 

2,871 

2,289 

1,872 

1,570 

1,315 

4,336 

2,297 

1,376 

1,544 

793 

464 

250 

176 

120 

104 

185 

60 

35 

15 

16 

6 

10 

6 

2 

1 

3 



$11,988,061 

1, 103, 312 

119, 706. 921 

156, 880, 913 

66, 919, 563 

61, 160, 051 

145, 824, 413 

48, 854, 306 

88, 032, 408 

153, 627, 281 

6, 040, 906 

148, 366, 872 

144, 367 

83, 244, 375 

63, 854, 650 

51,691,074 

41, 201, 544 

34, 919, 578 

30, 074, 705 

26, 294, 239 

23, 385, 450 

21, 160, 309 

19, 055, 089 

74, 656, 765 

51,271,517 

37,671,317 

53, 014, 454 

35, 342, 624 

25,360.061 

16, 137, 062 

13, 104, 434 

10, 148, 783 

9, 820, 127 

22, 305, 548 

10,152,995 

7, 878, 943 

4, 130, 297 

5. 459. 325 

2, 683, 795 

6, 167, 571 

5, 260, 560 
(3) 

6, 724, 163 



$38, 056 
"i,'667,'798' 
1,'646,'437' 



705, 187 



1, 612, 525 



1, 987, 754 



1, 455, 990 
1, 395, 043 
1, 401, 144 
1, 366, 025 
1, 341, 885 
1, 317, 569 
1, 256, 410 

1, 226, 645 
1, 191, 764 
1, 142, 862 
5, 243, 943 
4, 659, 172 
4, 148, 869 
7, 094, 538 
5, 765, 741 
4, 831, 090 
3, 514, 076 

3, 288, 368 

2, 852, 366 
3, 035, 268 
8, 375, 677 

4, 548, 673 
3. 922, 137 
2, 183, 564 
3, 056, 652 
1, 598, 524 

3, 907, 088 
3, 514, 470 

(3) 

(') 

4,914,231 



4,630 

359 

25, 612 

30, 973 

8,676 

4,413 

17, 027 

4,909 

7,451 

10, 141 

393 

5,699 

15 

3,014 

1,909 

1,242 

950 

741 

610 

468 

380 

294 

237 

824 

405 

236 

262 

131 

69 

44 

24 

15 

16 

23 

14 

8 

1 



$3, 163, 694 
186, 048 
35, 368, 098 
44, 985. 032 
19, 812, 400 
9, 704, 226 
46,076,671 
13, 857, 567 
24, 467, 739 
35, 033, 407 

1, 687, 005 
25, 432, 016 

80, 151 
16, 466, 589 
12, 342, 070 
9, 290, 659 
8, 056, 401 
7, 035, 999 
6, 391, 586 
5, 369. 795 
4, 741, 176 
3, 965, 880 
3, 433, 407 
14,172,116 
8, 969, 907 
6, 448, 61 1 
8, 974, 572 
5,801,044 
3, 722, 461 

2, 814, 874 
1, 794, 127 
1, 280. 350 

1, 522, 676 

2, 763, 021 
2. 409, 306 
1, 750, 727 

(3) 



3, 964, 509 



2, 780, 886 



2, 542, 957 



505, 050 



1, 804, 785, 237 



103, 228, 427 



132, 218 



401, 914, 365 



418, 303 
345, 857 
310, 456 
282, 3G0 
286, 888 
270, 759 
327, 631 
369, 855 
373, 621 
378, 859 



1, 599, 
1,171, 
1, 006, 

848, 

872, 

1, 182, 

1,630, 

2, 2.58, 
2, 392, 
2, 093, 



035, 105 
833, 651 
927, 934 
918,593 
941, 170 
411,350 
447, 207 
945, 768 
631, 092 
908, 574 



102, 035, 920 
51, 134, 158 
40, 398, 845 
28, 596, 559 
23, 914, 230 
22, 502, 123 
43, 703, 471 
86, 825, 072 

110,659,199 
73, 796, 361 



103, 303 
82, 436 
69, 623 
61, 675 
63. 722 
54, 534 
65, 679 
76, 493 
75, 376 
76, 703 



332, 021, 225 
245, 979, 617 
198, 442, 985 
161,600,241 
168, 607. 693 
204, 130, 790 
280, 940, 214 
366, 846, 042 
365, 336, 866 
349, 434, 464 



$6, 103 



366, 794 
"i59,"99i 



109, 474 



277, 714 



334, 617 



331, 489 
270, 007 
253, 313 
266, 152 
271, 670 
275, 979 
255, 102 
249, 062 
227, 595 
204, 460 
988, 699 
792, 997 
702, 787 
1, 196, 849 
942, 901 
708, 033 
611,318 
450, 594 
362, 918 
473, 370 
1, 033. 260 
1, 088, 670 
864, 508 
(') 



1, 628, 652 



15, 705, 078 



15,648,048 
8, 487, 456 
6,881,939 
3, 965, 454 
3,311,606 
2, 540, 943 
5, 109, 577 
8, 208, 031 

10, 100, 848 
8,884,047 



For footnotes, see p. 168. 



STATISTICS OF INCOME 



151 



Table 9. — Individual returns * with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 


Iowa 


Kansas 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Under 1 (est.)^ 


5,860 

333 

16, 301 

12, 858 

6,442 

1,699 

8,843 

2,192 

3,396 

5,346 

187 

3,081 

4 

1,728 

1,022 

677 

476 

354 

227 

188 

178 

103 

111 

334 

1.33 

87 

93 

52 

23 

9 

7 

4 

4 

3 


$3,934,215 

179, 621 

22, 485, 086 

18, 159. 054 

14, 665, 969 

3, 763, 950 

23,901,634 

6, 163, 354 

11,192,517 

18, 536, 393 

800, 274 

13, 749, 159 

20, 880 

9,431,852 

6, 604, 731 

5,052,593 

4, 017, 879 

3,360,080 

2, 377, 873 

2, 157, 276 

2, 221, 643 

1, 386, 636 

1,613,386 

5, 736, 539 

2, 974, 736 

2, 372, 681 

3, 225, 680 
2,312.215 
1, 257, 856 

572, 179 
536, 029 
342, 504 
383, 359 
337, 223 




4,420 

223 

9,574 

9,490 

5, 300 

1,524 

6,719 

1,685 

2,388 

4,108 

144 

2,574 

7 

1,449 

892 

586 

385 

320 

233 

160 

138 

114 

85 

300 

127 

67 

73 

38 

27 

11 

7 

3 

3 

7 

1 


$2, 849, 793 
138, 672 

13,599,899 

13, 758, 624 

12,081.144 
3, 375, 080 

18, 199, 112 
4, 740, 951 
7, 932, 062 

14,251,514 
612, 510 

11,478,829 
38, 081 
7.915,327 
5, 758, 349 
4, 366, 386 
3, 257, 681 
3, 027, 673 
2, 438. 806 
1. 835. 618 

1, 726, 361 
1,536.171 
1.232.157 
5,172,321 

2, 815, 358 

1, 824, 067 

2, 518, 454 
1, 674, 307 
1, 459, 363 

711, 360 
520, 289 
250, 234 
(3) 
785, 478 




Under 1 (est.) 


$5, 394 


$4, 342 


1 under 2 (est.)^ 


1 under 2 (est.) 


140, 422 


119, 634 


2 under 2.5 (est. )2 




2 under 2.5 (est.) - 


60, 873 


58, 699 


2.5 under 3 (est.)' 




2.5 under 3 (est.) 

3 under 4 (est.)' 


57, 331 


35, 807 


3 under 4 (est.) . _ . _ 


151, 803 


123, 184 


4 under 5 (est.)' 




4 under 5 (est.) -. 


179, 061 


156, 158 


5 under 6 '.. . .. . 




5 under 6 .. . 


164, 944 
14.^ 317 
139,717 
132, 123 
129,009 
104, 700 
103, 994 
120, 671 
79. 706 

98. 909 
404. 658 
268. 334 
259. 418 
437. 919 
377. 909 
243. 549 
126. 498 
138. 636 

99. 4.50 
119.488 
119,029 


, 145, 422 


6 under 7 


127, 495 


7 under 8 


118, 925 


8 under 9 


109, 950 


9 under 10 


119,636 


10 under 11 


109. 779 


11 under 12 


88 716 


12 under 13_ -_, 


91,817 


13 under 14 


86 615 


14 under 15 


77, 177 


15 under 20 


366, 836 


20 under 25 


249, 864 


25 under 30 . . . 


196, 573 


30 under 40 . . 


338, 356 


40 under 50 _ .. 


270, 747 


50 under 60 _ 


275, .551 


60 under 70 


156, 329 


70 under '^0 


128, 677 


80 under 90 


67,818 


90 under 100 


(') 


100 under 1.50. 


277, 296 


150 under 200 


(2) 


200 under 250 


3 
1 


(') 
(') 


(3) 
(3) 




250 under 300 








300 under 400 . 








400 under .WO 














500 under 750 .. 














750 under 1.000 














1,000 under 1.500 














1,500 under 2,000 














2,000 under 3,000 














3,000 under 4,000 














4,000 under 5,000 














5,000 and over 














Classes grouped 3. 




943, 903 


479,212 




435, 259 


149, 792 










Total 


72, 359 


196, 770, 959 


4,886.074 


53,182 


154, 317, 290 


4, 051. 195 






Summary for prior vears: * 
1936. 


67, 345 
57, 788 
47, 871 
40, 329 
42, 624 
29. 850 
39, 917 
45, 023 
40, 789 
45, 349 


184,118,458 
148, 52.5, 910 
119,4.54,155 
96, 835, 681 
109, 841, 833 
119,218,130 
174, 965, 757 
222, 103, 300 
221,881.247 
190,436,034 


4. 840. 561 
2.790.513 
2, 005. 786 
1.441.695 
1.403.991 
1.137.299 

2. 355. .567 
3. 924. 823 
6.216.041 

3, 310, 099 


47, 374 
39. 492 
35, 600 
30, 738 
29, 643 
27. 495 
32, 660 
37, 557 
32, 929 
35, 575 


145,617,405 
111,404,165 
91, 867, 863 
71, 777, 244 
73,547.043 
91, 616, 462 
127. 629, 176 
181,661,364 
162, 394, 758 
157, 394, 402 


3, 944, 602 


1935 


2, 041, 689 


1934 


1, 499, 2,50 


1933 


1,018,001 


1932. . 


1.223.811 


1931...- 


880. 318 


1930 


1. 480, 343 


1929 


2, 547, 829 


1928.... 

1927.. . . 


2, 928, 097 
2, 240, 877 







For footnotes see p. 168. 



152 



STATISTICS OF INCOME 



Table 9. — Individual returns * with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 


Kentucky 


Louisiana 


Number 

of 
returns 


Net income 


Total tax 


Number 

of 
returns 


Net income 


Total tax 


Under 1 (est.) ' 


2,330 

231 

10, 731 

7,595 

4,087 

1,914 

6,362 

1,469 

2,767 

4,119 

202 

3,339 

13 

1,603 

1,031 

693 

481 

352 

307 

212 

160 

148 

116 

378 

185 

115 

117 

54 

31 

18 

9 

4 

3 

14 

2 


$1,631,417 
120, 381 

14, 568, 071 

11,811,226 
9, 291, 709 
4, 239, 779 

17, 214, 233 
4,059,112 
9,117,051 

14, 475, 393 
874,015 

14, 923, 873 
69, 753 
8, 744, 181 
6, 674, 117 
5, 179, 378 
4, 068, 885 
3, 335, 446 
3, 221, 549 
2, 43R, 859 
1, 998, 929 
1, 998, 795 

1, 679. 304 
6, 532, 752 
4, 126, 790 
3, 155, 898 
3, 960, 421 

2, 401, 087 
1, 674, 259 
1, 146, 655 

685, 826 
332, 092 

(3^ 

1, 724, 343 




2,408 

15 

9,093 

8,657 

3,447 

1,588 

5,853 

1,882 

3,727 

5, 891 

278 

4,236 

13 

2,348 

1,414 

798 

497 

351 

313 

220 

168 

150 

153 

364 

233 

100 

153 

74 

25 

19 

21 

11 

2 

6 

4 

2 

1 

2 

2 


$1, 697, 566 

8,989 

12,606,170 

12, 528, 074 

7, 825, 858 

3, 534, 480 
15, 901, 587 

5, 283, 236 
12, 344, 569 
20, 628, 168 

1, 184, 570 
18, 875, 933 
72, 533 
12, 841, 631 
9, 127, 334 
5,940,111 

4, 210, 491 
3, 330, 763 
3, 282, 331 
2, 520, 123 
2, 105, 209 
2,020,365 
2,211,003 

6, 255, 569 
5, 147, 289 
2, 734, 0.50 

5, 289, 269 
3, 287, 630 
1, 356, 084 
1, 248, 882 
1, 572, 499 

919, 057 

(3) 

678, 959 
681, 537 

(3) 

(3) 

(3) 

(3) 




Under 1 (est.) -- 


$4, 132 


$195 


1 under 2 (est.) ' 




1 under 2 (est.) 


127, 680 


97, 971 


2 under 2.5 (est.) ' 




2 under 2.5 (est.) 


75, 374 


51, 958 


2.5 under 3 (est.) ' 




2 5 under 3 (est.) 


61, 656 


51,948 


3 under 4 (est.) 2 . 


3 under 4 (est.) 


151, 197 


220, 483 


4 under 5 (est.) ' 




4 under 5 (est.) 


200, 273 


298, 899 


5 under 6 2_». 




5 under 6 .. _ 


157, 785 
150, 380 
141, 653 
136, 115 
133, .351 
141, 510 
120, 034 
104, 056 
111,843 
103, 383 
461, 669 
370, 665 
348, 727 
527, 464 
392, 329 
319, 348 
249, 193 
175, 641 
91,728 

(3) 

652, 444 
(3) 


263, 172 


6 under 7 . 


242, 117 


7 under 8 . 


201, 262 


8 under 9 


182, 627 


9 under 10 


163, 666 


10 under 11 


174,073 


11 under 12 


144, 213 


12 under 13 . 


132, 356 


13 under 14 


131,245 


14 under 15 


151, 039 


15 under 20 


487, 381 


20 under 25 


495, 551 


25 under 30 


323, 195 


30 under 40 


745, 317 


40 under 50 


557, 147 


.50 under 60 


264, 086 
286, 499 


60 under 70 


70 under 80 


404, 990 
261, 404 


80undpr90 


90 under 100 ... 


(3) 


100 under 150 


247, 424 
.301,413 


150 under 200 


200 and 250 _ 


(3) 


2.50 under 300 








(3) 


300 under 400 








(«) 


400 under .500 _. 








(3) 


500 under 750,. 










750 under 1.000 














1,000 under 1.500 














1,.500 under 2,000 














2.000 under 3.000 














3,000 under 4,000 














4,000 under 5,000 














5,000 and over 














Classes grouped ^ 




585, 040 


213, 621 




2, 406, 818 


1, 290, 741 








Total 


51, 192 


168,058,619 


5, 723, 251 


54,519 


191, 658, 737 


8, 172, 372 




Summary for prior years: * 
1936 


45, 189 
39, 763 
35, 333 
32, .332 
32. 454 
26, 991 
31,021 
34, 623 
35, 367 
33, 004 


157, 007, 367 
125, 101, 178 
107, 389, 715 
90, 753, 614 
89, 484, 542 
103, 279, 556 
185, 098, 479 
191, 640, 708 
193, 766, 254 
172, 582, 213 


6,581,929 
3, 742, 279 
2, 726, 762 
2, 024, 772 
1,5.54,6.30 
1, 012, ,557 
1, 926, 048 
5, 076, 854 
5, 639, 394 
4, 027, 734 


43, 728 
40, 123 

36, 871 
33, 094 
33, 974 
28,934 
32, 979 
35,093 
36, 981 

37, 293 


160, 054, 669 
122, ,582, 017 
106, 168, 279 
86, 809, 253 
92,164,323 
107, 673, 824 
138, 836, 043 
170, 713, 998 
184,035,325 
17.5,2.54.161 


8, 394, 930 
3, 065, 551 
2.296,812 
1, 497, 560 
1 423 510 


1935 


1934 


1933 


1932 


1931 


891,912 


1930 


1, 599, 639 
2, 859, 568 
4,380,028 
3,174,839 


1929 


1928. 


1927 





For footnotes see p. 168. 



STATISTICS OF INCOME 



153 



Table 9. — Individual returns ' with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



Under 1 (est.) ' 

Under 1 (est.). 

1 under 2 (est.) 2... 

1 under 2 (est.) 

2 under 2,5 (est.) 2.. 

2 under 2.5 (est.)... 
2.5 under 3 (est.) s.. 
2.5 under 3 (est.)... 

3 under 4 (est.) s... 

3 under 4 (est.) 

4 under 5 (est.) 2... 

4 under 5 (est.) 

5under 6 2 

5under 6 

Bunder 7 

7 under 8 

8 under 9 

Qunder 10 

10 under 11 

11 under 12 

12 under 13. 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

sounder 40 

40 under 50 

sounder 60 

60 under 70 

70 under 80 

sounder 90 

sounder 100 

100 under 150 

150 under 200 

200undor 2.50 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500.. 
1,500 under 2,000. - 
2,000 under 3.000.. 
3,000 under 4,000.. 
4,000 under 5,000.. 

5,000 and over 

Classes (rrouped 3. 

Total 



Summary for prior years: 

1936 

1935. 

1934 

1933 

1932 

1931 

1930 

1929 

1928 

1927 



Maine 



Number 

of 
returns 



1,381 

241 

5,450 

5,790 

1,726 

853 

2,812 

948 

1,632 

2,296 

119 

1,429 

5 

867 

544 

399 

274 

213 

161 

119 

126 

79 

70 

214 

144 

52 

73 

35 

19 

14 

12 

10 

4 

6 

2 

1 



Net Income 



$963, 737 
113, 099 
7, 341, 596 
8,252,126 
3, 924, 535 
1,884,928 
7, 652, 464 
2, 657, 540 

5, 391. 407 
7, 982, 581 

500, 027 

6, 384, 485 

27, 321 
4, 744, 301 
3, 511, 522 
2, 980, 719 

2, 322, Oil 
2, 009, 259 
1, 686, 124 
1,367,414 
1, 572, 452 
1, 069, 108 
1,011,846 

3, 694, 936 
3, 204, 136 

1, 429, 728 

2, 499, 893 
1, 544, 948 
1, 023, 014 

906, .546 
891, 824 
847, 439 
382, 219 
675, 772 
(3) 
(3) 



Total tax 



$3, 525 
"66,'627' 
"32,"i74 



26, 124 



80, 675 



92, 169 



28, 123 



25, 057 
21, 826 
20, 584 
19,435 
20, 867 
16,218 
17, 829 
19, 173 
18,611 
18, 710 



90, 227 
82, 531 
86, 320 
81,685 
80, 914 
76, 104 
67, 264 
88, 047 
61, 947 
64, 290 
264, 943 
290, 072 
162, 056 
336, 757 
249, 395 
195. 752 

203, no 

220, 306 
243, 838 
117,9.^5 
242. 732 

(3) 

(3) 



Maryland 



Number 

of 
returns 



2, 654, 109 



95, 105, 166 



88, 859, 221 
69, 455, 451 
63, 204, 584 
55, 819, 385 
62, 981, 334 
74,771,180 
90, 690, 507 
115,875,339 
111,558,275 
103, 080, 848 



1, 614, 495 



5, 222, 014 



5, 181, 283 
2, 567, 514 

2, 207, 930 
1, 865. 414 
1, .597, 284 
1,527,436 
1, 827, 849 

3, 561, 754 

4, 262, 498 
3, 300, 741 



4,634 

751 

23,217 

26, 208 

7,454 

3,758 

13, 488 

5,191 

7,927 

14, 307 

575 

9,664 

24 

4,656 

2,770 

1,762 

1,172 

851 

686 

509 

402 

336 

317 

956 

470 

293 

324 

149 

105 

63 

35 

34 

21 

37 

17 

11 

2 

2 

2 

1 

1 

1 



Net income 



$3, 395, 201 

373, 713 

30, 944, 000 

37, 407, 217 

17, 014, 973 

8, 331, 205 

36, 658, 910 

14, 607, 130 

26, 292, 636 

50, 114, 798 

2, 449, 802 

43, 235, 517 

127,935 

25, 500, 812 

17, 891, 715 

13, 161, 860 

9, 946, 343 

8, 064, 926 

7, 198, 956 

5, 846, 744 

5, 025, 210 

4, 529, 337 

4, 591, 864 

16, 478, 705 

10, 430, 969 

8, 027, 618 

11,097,168 

6, 656, 356 

5, 724, 040 

4,110,365 

2, 596, 297 

2, 826, 953 

1, 970, 861 

4, 518. 473 

2, 846. 674 

2, 460, 705 

(3^ 

(3^ 
(3) 
(3) 
(3) 
(») 



Total tax 



133, 183 



105, 673 
92, 550 
84, 395 
76, 409 
83, 223 
60, 898 
68, 426 
68, 654 
65, 258 
65, 099 



4, 595, 814 



457, 051, 802 



391. 588. 573 
316, 888, 322 
282, 624, 171 
244,613,015 
265, 618, 871 
277, 129, 170 
354, 627, 248 
425, 185, 985 
409,371,465 
390, 671, 215 



For footnotes, see p. 168. 



154 



STATISTICS OF INCOME 



Table 9. — Individual returns^ with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 




Massachusetts 




Michigan 




(Thousands of dollars) 


Number 
of returns 


Net income 


Total ta.\ 


Number 
ofreturns 


Net income 


Total tax 


Under 1 (est.)^ 


17, 200 

1,916 

64,316 

58, 595 

22, 036 

15,807 

32, 040 

9,827 

15, 246 

22, 680 

723 

19, 602 

27 

7,883 

5.357 

3,636 

2,609 

2,055 

1,652 

1,311 

1,110 

909 

793 

2,553 

1,333 

827 

951 

493 

292 

174 

124 

80 

47 

121 

30 

16 

11 

5 

3 


$12. 012. 901 
985. 181 
87. 276. 305 
90. 035, 326 
50,006.111 
35. 008. 513 

86, 959, 573 
27,009,176 
50, 273, 334 
79, 488. 700 

3. 096. 868 

87. 813. 5.58 
144. 944 

43.085.215 
34. 650. 763 
27. 160. 3.58 
22. 130. 988 
19, 479. 703 
17,314.271 
15, 062. 809 
13,839. .572 
12. 259. 287 
11.472.164 
44. 153. 959 
29. 621, 223 
22, 564, 713 
32. 610. 474 
21. 909. 337 
1.5.903.165 
11.223,499 
9. 233. 484 
6. 786. 685 

4. 448. 602 
14. 217, 632 

5. 089. 042 
3. 616. 578 
2.87.5.717 
1. 657. 120 
1, 345. 814 




10, 085 

608 

57, 829 

78, 605 

17, 986 

16, 059 

32, 837 

8,452 

19, 261 

20, 994 

1,341 

15, 979 

30 

6,811 

4,624 

3.165 

2,338 

1,659 

1,269 

1,081 

897 

701 

598 

1,879 

1,002 

583 

689 

363 

221 

133 

96 

64 

30 

122 

42 

16 

11 

14 

5 

2 

3 

1 


$7, 170, 127 
297, 784 
79, 712, 880 
123, 187, 809 
40. 963. 656 
35,510,415 
89.411,608 
23. 232, 120 
63. 632, 923 
73, 427, 730 
5, 732, 703 
71, 338, 047 
161, 168 
37, 196, 667 
29, 901, 546 
23, 635. 374 
19.812.716 

15. 695, 738 
13. 300. 853 
12. 415. 279 
11.208.707 

9, 440. 171 
8, 651. 186 
32.275.412 
22. 322. 455 
1,5.991.820 
2,3,612.0.34 

16. 13.5. 662 
12, 097. 090 

8. 604, 298 
7, 227, 991 
5. 445. 909 

2, 844. 455 
14.642.614 

7. 31.5. 634 

3. 526. 389 

3. 100. 623 

4. 745. .593 
2, 202. 951 

(3) 
2, 852. 593 
(') 






.$33, 579 


$10, 041 


1 under 2 (est.)^ 




1 under 2 (est.) 

2 under 2.5 (est.)' 


954, 397 


1, 276, 068 


2 under 2.5 (est.) . . . 


629. 328 


593, 601 


2.5 under 3 (est.) 2 




2.5 under 3 (est.) 

3 under 4 (est.)^ 


483, 092 

'i,'636,'69r 

1.324,331" 


358, 476 


3 under 4 (est.) - . 


758, 858 


4 under 5 (est. )2 _. 




4 under 5 (est.) 


923, 611 


5 under 6 ' 




5under6-. _ . .. 


822, 456 
812, 155 
794, 486 
778, 071 
802. 715 
792. 842 
760. 280 
746. 925 
715. 4.30 
712. 179 
3.22.5.116 

2. 699. 178 
2,513.113 
4. 426, 970 

3. ,591. ,528 
3. 046. 597 
2. 483. 939 
2. 321, 364 
1. 923, 848 

1, 390. 048 
5. 259. 797 

2. 282. 494 
1. 802. 710 
1. 498, 989 

921, 758 
801, 217 


625, 958 


6 under 7- 


630, 400 


7 under 8-- . - 


629, 604 


8 under 9. . 


647, 454 


9 under 10 . 


604, 027 


lOunder 11 


573, 301 


11 under 12 

12 under 13 


590, 359 
584, 333 


13 under 14 . . _. 


524. 251 


14 under 15. 


520. 398 


15 under 20 


2, 248. 603 


20 under 25 


1.976.483 


25 under 30 


1. 760. 487 


30 under 40 .. . ._. 


3. 157, 220 


40under50 


2, 623, 925 


50 under 60 


2. 304. 554 


60 under 70 


1. 894, 664 


70 under 80 


1, 820, 644 


80 under 90 . . 


1. .545, 709 


90 under 100 


875, 586 


100 under 150 


5, 473, 747 


150 under 200 


3. 309. 161 


200 under 250 . . 


1. 740. 694 


250 under 300... 


1. 648. 638 


300 under 400 


2. 656. 161 


400 under 500. 


1. 307. 909 


500 under 750. 


(3) 


750 under 1,000 








1, 926, 875 


1,000 under 1,500 








(3) 


1,500 under 2,000 










2,000 under 3,000 








1 


(») 


0) 


3,000 under 4,000 










4,000 under 5,000 














5,000 and over 














Classes grouped ^ 










4, 755, 037 


3, 312, 733 














Total 


314, 390 


1. 053. 822. 664 


52. 381, 623 


308, 486 


984, 735, 767 


51. 434, 533 


Summary for prior years:* 
1936 


284, 320 
257, 495 
242, 728 
231,960 
249. 766 
193, 504 
202. 253 
213.316 
215. 5.59 
214. 356 


988, 903, 808 

82.5, 327, 457 

737.044.841 

682. 666. 696 

735. 390. 899 

800.923.1,53 

1.010.33.3.740 

1.371.651.741 

1.3.57.076.374 

1. 189. 273. 214 


,58,876,192 
31,804,163 
24. 624, 216 
19. 763. 997 
1.5.019. 149 
12. .380. 194 
26. 509. 775 
57. 857. 223 
59. 738. 973 
43. 949. 866 


239. 363 
173. 799 
139. 329 
112.0,53 
127.515 
119.623 
147. 364 
177.918 
179.8% 
175.806 


862, 577, 726 
568. 269. 799 
418. 569, 373 
29.3,131.080 
349. 800. 109 
481,017.6.50 
668. .39 1.038 
1. 029. 7.56. 680 
1. 066. 529. 992 
950,08,5.831 


60, 302. 647 


1935 

1934 


28.319.046 
14.866.008 


1933 

1932. 

1931 

1930 

1929 


6, 660. 804 

8,380.316 

11.02,8,018 

17.479.145 

40. 599. 864 


1928 


.50.601.040 


1927 


35. 599. 799 



For footnotes, see p. 168. 



STATISTICS OF INCOME 



155 



Table 9. — Individual returns''^ with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 




Minnesota 






Mississippi 




(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
ofreturns 


Net income 


Total tax 


Under 1 (est.) 2 


4,237 

581 

20,866 

27,991 

8,702 

2,865 

11,916 

3,315 

4,920 

0,991 

301 

4,336 

14 

2,755 

1,785 

1,173 

810 

652 

436 

390 

292 

243 

226 

671 

366 

206 

223 

102 

65 

37 

23 

17 

10 

29 

11 

2 

1 


$2, 978, 788 
285, 153 
28, 730, 610 
39, 769, 062 
19, 761, 999 

6, 317, 069 
32, 189, 331 

9,311,792 
16, 256, 014 
24,171,894 

1, 285, 047 

19, 335, 778 

74, 265 

15, 061, 748 

11, 555, 276 

8, 788, 280 

6, 853, 724 
6. 186. 592 
4, 568, 733 

4, 481, 437 
3, 642, 403 
3. 278, 825 
3. 274, 553 

11. 513. 167 
8,162,1.50 

5. 661, 146 

7, 692, 764 
4, 449, 823 
3, 549, 538 
2, 402, 742 
1,714,388 
1, 442, 122 

9.54, 140 
3, 474, 394 
1,. 853. 466 

(3) 




1,522 

77 

3,732 

2,413 

1.793 

418 

1,854 

480 

943 

1,486 

64 

984 

2 

518 

360 

236 

163 

132 

104 

69 

70 

53 

44 

132 

62 

39 

41 

13 

6 

10 

2 

1 


$1,001,229 

44, 777 

5, 389, 357 

3, 612. 404 

4, 096. 992 
919, 368 

5, 029, 683 

1, 342, 783 
3, 108, 827 
5, 191, 156 

267. 300 
4, 377, 680 

2,831,511 

2, 333, 649 
1,763,421 
1, 383, 580 

1, 249, 435 
1. 088. 088 

785. 674 
868. 834 
716,331 
637, 104 

2, 219, 425 
1, 382, 197 
1, 058. 142 
1, 390. 137 

572, 808 
323. 456 
636, 863 
(3) 
(«) 




Under 1 (est.) 


$9, 701 


$1, 440 


1 under 2 (est.)^ 




1 under 2 (est.) 


315, 678 


34, 380 


2under 2.5 (e.st.)2 




2 under 2.5 (est.) 


107, 728 


15, 840 


2.5 under 3 (est.)^ . 




2.5 under 3 (est.) ..... 


89, 325 


15, 049 


3 under 4 (est.) 2 . . . . 




3 under 4 (est.) 

4 under 5 (est.) 2 


202, 956 


41, 182 


4 under 5 (est.).. . .. 


255, 052 

"'"261,191" 
256, 198 
229, 526 
227, 924 
242, 250 
198, 858 
215, 982 
192, 538 
181, 185 
197,112 
809, 985 
723, 326 
625, 798 

1, 036, 316 
723, 113 
672. 535 
529. 766 
428, 296 
407, 006 
295. 430 

1, 301. 279 
828. 912 
(3) 


54,608 


5 under 6 2 




5under6._ .. .. .. .. 


49,427 


6under7 . __ . 


52, 759 


7under8... . ._ .- 


46, .539 


8 under 9 ... _...... 


47, 601 


9 under 10 


46, 230 


10 under 11 


45, 338 


11 under 12 


39, 713 


12 under 13 ... 


44, 749 


13 under 14 . ... 


40, 852 


14 under 15.. . ... . . 


39, 327 


15 under 20 .__ 


150, 038 


20 under 25 


120, 775 


25 under 30 


117,376 


30 under 40 


184, 263 


40 under 50 . ._ 


91, 501 


50 under 60. . . .... 


61, 301 


60 under 70 . . . 


139, 655 


70 under 80 

80 under 90.. 


(3) 
(2) 


90 under 100 




100 under 150 








150 under 200 








200 under 250 








250 under 300. 








300 under 400 . 








400 under 500. ... 














.500 under 750 














750 under 1,000 














1,000 under 1,500 














1,500 under 2.000 














2,000 under 3.000 














3,000 under 4,000 














4,000 under 5,000 . . 














5,000 and over 














Classes grouped ^ 




689, ioi 


343, 631 




245, 366 


62, 304 










Total 


107, 560 


.321,717,314 


11,908,597 


17, 823 


55, 867, 577 


1, 542. 247 






Summary for i)rior years: ^ 
1936 .. 


86, 294 
72. 258 
67.297 

59, 803 
61,810 
52. 853 
57, 539 

60, 701 

60, 752 

61. 439 


296. 978, 853 
222,817,905 
196, 345. 2,36 
163. 750. 734 
173. 772. 099 
213. .530. 771 
266. 572, 313 
337, 880, 743 
340. 152, 949 
295, 670. 416 


13, 676, 938 

6, 672, 968 

5. 257. 595 
3, 817. 982 

3, 477, 895 
2,445.441 

4, 744. 380 
9. 799. 141 

n. 92.5. 077 

7, 383, 307 


16, 296 
13, 570 
12.507 
10. 868 
10. 548 
9,888 
12, 147 

15. 689 

16. 140 
16. 964 


54, 516, 977 
36, 878, 747 
32, 578, 332 
24, 020, 766 
21. 584. 610 
27. 146. 285 
40, 556. 389 
63, 922, 168 
64, 689, 480 
64. 878, 684 


1, 740, 121 


1935 - 


870, 027 


1934 


479, 717 


1933 


271. 063 


1932 - 


133, 566 


1931 


87. 221 


1930 


251, 781 


1929 


600. 076 


1928 . . 


763, 702 


1927 .. 


816. 429 







For footnotes, see p. 168. 



186585—40- 



-n 



156 



STATISTICS OF INCOME 



Table 9. — Individual returns^ with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



Under 1 (est.)^---- 

Under 1 (est.) 

1 under 2 (est.)2._. 

1 under 2 (est.) 

2 under 2.5 (est.)2- 

2 under 2.5 (est.).. 
2.5 under 3 (est.)^- 
2.5 under 3 (est.).. 

3 under 4 (est.) 2-.. 

3 under 4 (est.) 

4 under 5 (est.)2._. 

4 under 5 (est.) 

5 under 6 ^ 

5 under 6 

6 under 7 

7 under 8 

8 underQ 

9 under 10 

lOunder 11 

11 under 12 

12 under 13. 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

sounder 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

sounder 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 .__ 
1,000 under 1,500. _ 
1,500 under 2,000.. 
2,000 under 3,000.. 
3,000 under 4,000.. 
4,000 under 5,000.. 

5,000 and over 

Classes grouped 3. 

Total 



Summary for prior years: < 

1936 

1935 

1934 

1933 

1932 

1931 

1930 

1929..-. 

1928 

1927 



Missouri 



Number 
of returns 



367 

677 

111 

667 

778 

611 

994 

419 

104 

868 

280 

,425 

13 

,090 

,752 

,847 

,303 

,018 

810 

667 

567 

441 

388 

.197 

631 

383 

446 

231 

121 

75 

50 

30 

22 

47 

16 

5 

1 

1 

3 



145, 457 



130, 521 
110,370 
98, 125 
93, 308 
95, 808 
80, 356 
85, 507 

98. 367 

99. 295 
96. 407 



Net income 



$3, 864. 765 

333, 169 

40. 591, 655 

40, 251, 659 
26, 799, 964 
10, 210, 165 
45. 897, 526 

12, 41.5, 218 
23. 294, 238 

41, 261. 783 

1, 212, 286 
33, 078, 321 

71, 839 
22, 391, 820 
17, 810, 553 

13, 784, 589 
11,063,074 

9. 647, 645 
8, 487, 145 
7,659,013 
7, 076, 800 
5, 933, 924 

5, 618. 380 
20, 617, 023 
14,015, 178 
10, 467, 701 
15, 358, 695 
10, 303, 873 

6, 601, 869 
4, 869, 656 
3, 738, 247 

2, 542. 608 
2, 082, 592 
5,609,176 
2, 661, 258 
1. 089, 955 

(3) 
(') 
1. 316, 420 



(3) 



1, 785, 671 



491, 815, 453 



462, 884, 942 
358. 068, 146 
306, 041, 392 
271, 748, 278 
290, 701, 858 
331. 482, 726 
419, 648. 187 
558, 127. 649 
563, 951, 553 
50!, 495, 1.30 



Total tax 



$10, 726 
'219,151 



169, 609 
"i24,'505 



370, 024 



436, 330 



400, 927 
395, 426 

379, 706 
373. 386 

380, 496 
375, 739 
373, 626 
378, 836 
333, 790 
344. 022 

1. 463, 687 
1,270,410 

1, 152, 408 

2, 073, 983 
1, 696, 774 
1, 250, 753 

1, 073. 869 
930, 713 
714,681 
649, 268 

2. 098, 674 
1,181,272 

538, 828 

(3) 

(3) 
778, 238 



(3) 



1, 143, 180 



23, 083, 037 



24,210,538 
12,426,233 
9, 353, 651 
6, 848, 926 
6, 874, 748 
4, 747, 522 
8, 750. 374 
16. 416, 897 
18.910,977 
13, 738. 256 



Montana 



Number 
of returns 



5.677 

8.058 

1,553 

1,599 

4,608 

870 

2,072 

2.095 

105 

1,355 

5 

582 

338 

210 

171 

95 

79 

62 

30 

26 

37 

74 

34 

20 

19 



30, 468 



23.916 
19, 924 
16, 825 
11.511 
10, 087 
9,722 
11,635 
17.067 
17,112 
18, 651 



Net income 



$376, 726 
31, 046 
7, 862, 241 
12, 503, 439 
3, 487, 138 
3, 533, 317 
12, 475, 497 
2,411,696 

6, 833, 030 

7, 275, 456 
449, 769 

6,012.615 

27, 099 

3, 189, 205 

2, 191, 448 

1,567,948 

1, 453, 506 

897, 994 

828, 829 

711,558 

373, 635 

349, 165 

537, 254 
1, 284, 488 

759, 784 

538, 130 
663, 189 
290, 648 
278, 351 



388. 826 



79, 583, 027 



68, 787, 896 
56, 719, 731 
46. 594, 430 
29. 877. 422 
28. 221. 605 
34, 667, 097 
45. 495, 235 
71.397,232 
72, 908, 121 

69, 654, 023 



For footnotes, see p. 168. 



STATISTICS OF INCOME 



157 



Table 9. — Individual returns'^ with net income, 1937, by States and Territories and 
hy net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



Under 1 Cest.)^ 

Under 1 (est.) 

1 under 2 (est.)^--. 

1 under 2 (est.) ... 

2 under 2.5 (est.)2. 

2 under 2.5 (est.).. 
2.5 under 3 (est.)2. 
2.5 under 3 (est.)-. 

3 under 4 (est.)2 -. 

3 under 4 (est.) 

4 under 5 (est.)2._. 

4 under 5 (est.) 

5 under 6 ^ 

5 under ("> 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

sounder 40 

40 under 50_ 

sounder fiO 

no under 70 . _ 

70 under SO 

sounder 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under .300 

300 under 400 

400 under .TOO 

500 under 7.50 

750 under 1,000.- _. 
1,000 under 1,500.. 
1,500 under 2,000.. 
2,000 under 3,000.. 
3,000 und.er 4,000.. 
4,000 under 5,000.. 

5,000 and over 

Classes grouped 3_ 

Total 



Summary for prior years: 

1936 

1935 

1934 

1933 

1932 

1931 

1930 

1929 

1928 

1927 



Nebraska 



Number 
of returns 



2,519 

145 

7,834 

6.848 

3,363 

1,379 

5,507 

1.271 

2,557 

3,041 

201 

2,157 

5 

1,077 

611 

479 

307 

220 

177 

132 

104 

98 

76 

221 

110 

62 

66 

24 



40, 629 



36, 887 
31, 253 
26,781 

24, 939 

25, 503 
23, 940 
27. 271 

30, 962 

31, 426 

32, 170 



Net income 



$1, 658, 634 

71, 477 

10, 686, 102 

10, 122, 999 

7, 703, 858 
3, 052, 910 

14, 898, 252 
3, 537, 342 

8, 437, 525 
10.611,008 

853, 628 

9, 645, 782 

27, 545 
5, 878, 961 
3, 953, 738 
3, .577. 613 
2, 599, 231 

2, 083, 680 
1, 854, 870 
1.511,770 
1, 296, 772 
1,323,013 

1, 102, 155 

3, 772, 259 

2, 467, 955 

1, 675, 740 

2, 248, 874 
1, 065, 620 

990, 607 
540, 148 
449, 060 
(') 
(3) 
(3) 



578, 333 



115, 137. 721 
93,113,326 
77, 236, 225 

65, 022, 543 

66, 007, 036 
86, 120, 131 

113. 934, 843 
140, 322, 452 
139,471.054 
130.131,079 



Total tax 



$2, 398 



91, 575 



51, 199 



39, 053 
92,' 047 



121, 958 



100, 359 
83, 846 
97, 517 
85, 612 
79. 341 
82, 479 

73, 494 
66. 201 

74, 2.53 
67, 827 

264, 528 
218, 564 
183, 084 
299. 492 
171,904 
191,410 
122,965 
113, 645 

(3) 

(') 

(}) 



176, 277 



2. 951, 028 



3, 222, 455 

1, 795, 640 
1, 438, 974 
1, 133, 297 
970, 563 
723, 426 
1,381,310 

1, 919, 473 

2, 109. .341 
1, 427, 747 



Nevada 



Number 
of returns 



265 

10 

986 

2,367 

490 

495 

975 

432 

482 

1,002 

16 

486 

2 

306 

159 

75 

51 

52 

42 

18 

18 

20 

24 

59 

27 

25 

14 

16 

7 

6 

2 

3 

1 

6 

1 

1 

1 

1 



8,944 



7,554 
6,441 
5.321 
3.692 
4,102 
3,431 
4.006 
5, 174 
4,477 
4,702 



Net income 



$17.5, 101 
8,104 
1,419,938 
3, 597, 830 
1, 122, 308 

1, 087, 694 

2, 656, 607 
1, 210, 328 
1, 576, 424 

3, 471, 435 

69, 098 
2, 187, 555 

(3) 
1, 676, 616 
1, 018, 923 
659, 991 
429, 847 
495, 481 
439, 324 
203, 637 
224, 258 
271,074 
348, 805 
1, 012, 573 
602, 378 
675, 612 
474, 213 
719, 259 
382, 314 
401, 691 
(3) 

253, 495 
(3) 

677, 168 
(3) 
(') 
0) 
(5) 



(3) 



2, 186, 144 



31, 635, 125 



27, 045, 172 

20, 681, 384 

15, 236, 981 
9,772,417 

10, 867, 743 
14. 041, 657 

16. 688, 195 

21. 597, 783 
20, 109, 392 
17,443,233 



Total tax 



•$182- 
'32,'275' 
'i7,"i49 



10, 833 



35, 025 



36, 214 



36, 998 
26, 080 
20, 146 
18,309 
24, 263 
23,448 
11, 927 
13,418 
17, 545 
23, 371 
78, 667 
57, 344 
78, 827 
63, 700 

119,865 
74, 230 
91, 426 

(3) 
71, 593 

(3) 



243, 

(3) 

(3) 

(3) 

(3) 



(53 



(') 



1, 213, 289 



2, 439, 872 



2, 226, 219 
1, 363, 651 
528, 009 
380, 800 
362, 378 
349, 026 
472, 636 
356. 444 
477. 673 
228, 799 



For footnotes, see p. 168. 



158 



STATISTICS OF INCOME 



Table 9. — Individual returns'^ with net income, 1937, by States and Territoj-ics and 
by net income classes: number of returns, net income and total tax: also totals for 
'prior years — Continued 





New Hampshire 




New Jersey 




(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 




1,331 

128 

4,436 

4,769 

1,350 

681 

2,047 

721 

1, 078 

1,687 

78 

1,018 

2 

623 

352 

257 

180 

150 

115 

89 

75 

52 

48 

142 

59 

37 

66 

17 

16 

11 

9 

8 


$905, 271 
57. 197 
5, 872, 440 
6,831,822 
3, 0.56, 371 
1,525,211 
5, 547, 588 
2, 009, 092 

3, ,571, 243 
5, 843, 866 

336, 384 

4, 525, 764 

(3) 

3, .391, 956 
2, 282. 366 
1,921,090 
1,524,834 

1, 425, 322 
1.206,559 
1,023,000 

938, 282 
704. 391 
697, 022 

2, 430, 755 
1,311,306 

997, 764 
1,930,683 
764, 352 
860, 469 
725, 558 
077, 148 
682, 262 




10,014 

1,950 

59, 913 

55, 764 

19, 341 

9,759 

31, 620 

10, 638 

19, 865 

27. 302 

1.180 

15,377 

30 

8,807 

5,696 

3,966 

2,825 

2,004 

1.567 

1.276 

1.017 

796 

685 

2,144 

1,126 

632 

712 

369 

200 

135 

74 

51 

43 

108 

27 

15 

6 


$7,118,973 

942,954 

81,990,793 

81,263,547 

43, 845, 224 

21, 618, 8.54 

85, 996, 467 

29, 857. 438 

65. 803, 878 

95, 030, 178 

5. 024, 559 

68, 485, 773 

160,031 

48, 093, 594 

36, 822, 384 

29.627,016 

23,931,795 

18, 989, 004 

16, 427, 867 

14, 654, 224 

12,702,3.57 

10, 746, 453 

9,920,074 

36. 914, 857 

25, 026, 060 

17,270,691 

24, 405, 241 

16,281,516 

10, 898, 746 

8, 725, 808 

5, 519, 505 

4. 339, 231 

4, 056, 480 

12,687,106 

4. 696, 090 

3. 382, 645 

1, 645, 406 




TTndpr 1 Tpst ) 


$1, 678 


.$31, 660 






1 under 2 (est ) - 


57, 425 


698, 873 








27, 059 


366, 893 






2.5 under 3 (est.) 


21,695 


288, 899 




59,917 


802, 645 








66, 394 


878, 988 








66, 293 
.55. 116 
55, 435 
53. 266 
.59, 733 
56, 123 
52. .586 
53. 805 
41,791 
44, 928 
171,907 
117,157 
110,172 
264, 429 
126, 498 
163, 085 
165, 138 
169, 757 
196, 342 


829,712 




791, 695 




792. 885 




791, 462 


9 under 10 


728, 799 


10 under 11 


722, 944 


11 under 12 - 


737, 180 


12 under 13 .. -- 


665, 265 




602. 898 




603. 320 


15 unde'" 20 . _ - 


2. 607, 102 




2. 232, 750 




1,917,937 




3, 269. 864 


40 under .50 - 


2. 644, 285 


50 under 60 - - 


2.091,538 




1,931.436 


70 under 80 


1.381.505 


80 under 90 -- 


1. 238. 146 


90 under 100 


1,2,59,1.56 


100 under 1,50 . - - 


16 
2 

1 


1,919, .323 

(3) 


725, 226 
(3) 


4,698.121 


150 under 200 -. 


2, 131. 284 


200 under 2.50 


1.689.912 


250 under 300 


869, 228 


300 under 400 










400 under .500 








4 
7 
3 
3 


1,685,818 
4, 541, 706 
2, 449, 561 

(3) 


992,376 


500 under 750 -- - 








2,901.851 


750 under 1 000 








1,618,927 


1 000 under 1 .500 








(3) 












2 000 un<ier 3 001 








2 


(3) 


(3) 


3 000 under 4 000 










4 000 under 5 000 




























Classes grouped 3 - 




549, 480 


247, 540 




8, 057, 393 


5, 754, 137 






Total 


21, 641 


68, 046, 171 


3, 230, 495 


297, 053 


1,001,637,297 


51, 563, 673 






Summary for prior years: * 
1936 


19, 664 
17, 687 
16. 785 
15, 4.58 
15,738 

12, 477 

13, 927 
14,341 
14, 132 
14.484 

1 


62, 819, 698 
51,5.53.939 

48. 267, 423 
41, ,5,5.5, .501 
43, 854, 575 

49, 243, 306 
60,014,739 
74.306,913 
72,610,266 
70, 560, 949 


3, 0,59, 299 

1,435,182 

1,348.492 

,S33, 674 

746, 847 

563, 289 

9.52,064 

1.734,828 

1,991,8,54 

1,824.931 


260, 328 
223. 489 
210.683 
202, 190 
217,812 
178,754 
187,943 
19.5.772 
196, 681 
195. 467 


928, 153, 400 

737, 1 54, 952 

686, 065, 373 

618.361.894 

689. 687, 207 

785, 764, 184 

956, 732. 849 

1.212,423.226 

1.241,411,359 

1.117.398,064 


.54, 395, 019 


1934 


34. 603. 809 
29, 121, 247 


1933 . 


23,002, 182 


1932 


22. 079. 975 


1931 


13.971.251 


1930 


23. 219. 240 


1929 


43,9.56.017 


1928 .- 


51.889,941 


1927 


.38.911,894 







For footnotes, see p. If 



STATISTICS OF INCOME 



159 



Table 9. — Individual returns^ with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



I'nder 1 (est.) 2-.. 

Under 1 (est.) 

1 under 2 (est.) 2.. 

1 under 2 (est.) 

2 under 2.5 (est.) 2. 

2 under 2.-5 (est.).. 
2.5 under 3 (est.) 2. 
2.5 under 3 (e>;t.)-- 

3 under 4 (est.) 2._. 
Sunder 4 (est.) 

4 under 5 (est.) 2_., 

4 under 5 (est.) 

5 under 6 2 

Sunder 6 

6under 7 

7 under 8 

Sunder 9 

9 under 10 

lOunder 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 ._. 

30 under 40 

40 under 50 

sounder 60 

sounder 70 

70 under 80 

80 under 90 

90underl00 

100 under 150 

150 under 200 

200 under 250 

2.50 under 300 

.300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500.. 
1,500 under 2,000.. 
2,000 under 3,000.. 
3,000 under 4,000.. 
4,000 under 5,000.. 

5,000 and over 

Classes grouped 3. 



Total. 



Summary for prior vears: * 

1936 1 

1935.... 

1934 

1933 

1932 

1931 

1930 

1929 

1928 

1927 



New Mexico 



Number 
of returns 



702 

11 

1,968 

2,317 

981 

622 

1.606 

598 

903 

1,560 

37 

900 

2 

427 

271 

162 

123 

68 

81 

34 

29 

28 

21 

55 

26 

19 

20 

15 

7 

1 

1 



11,222 
9,272 

7,647 
5,577 
5,574 
5,389 
6,288 
6,874 
6,686 
6,462 



Net income 



.$439, 727 

4,547 

2, 855, 084 

3, 596, 349 

2, 232, 245 
1,380,252 
4,365,612 

1, 668, 049 
2, 989, 708 
5, 420, 451 

158, 673 

3, 983, 092 

(3) 

2, 328, 866 
1,743,363 
1,213,786 
1. 040, 185 

640, 715 
845, 434 
387, 758 
360, 733 
377, 837 
304, 631 
944, 290 
583, 846 
514, 108 
714, 128 
6.30, 826 
369, 044 
(3) 
(3) 



(3) 



42, 469, 435 



34, 952. 886 

25, 399, 852 
20, 107, 880 
14,208,551 
14,666,467 
18, 231, 469 
24, 970, 971 
30, 875, 636 
29, 995, 501 

26, 288, 148 



Total tax 



34, 043 



20, 142 



17, 135 



55, 778 



61, 614 



47. 772 
46, 040 
42. 168 
41, 884 
28, 703 
43, 771 
22, 074 
21,910 
24, 892 
19, 823 
73, 630 
56, 582 
59,411 
102, 617 
102, .535 
69. 491 
(3) 



(') 



149, 337 



1,141,400 



799. 507 
364, 772 
277, 567 
165,971 
178, 605 
117, 336 
222, 459 
299, 882 
464, 430 
283, 403 



New York 



Number 
of returns 



51,061 

6,401 

217, 823 

208, 794 

77, 048 

31, 568 

116.168 

34, 779 

66, 218 

80, 214 

3,443 

47, 003 

129 

30. 066 

20. 152 

14,018 

10, 104 

7,689 

5, 903 

4,881 

3,910 

3,411 

2,940 

9,204 

5, 010 

3,130 

3,429 

1,874 

1. 1.33 

724 

524 

377 

279 

623 

223 

114 

71 

81 

36 

33 

18 

13 

3 

3 

1 

1 

1 



1.070,628 



976, 939 
852, 076 
807, 818 
748, 054 
798, 685 
634, 057 
711.566 
757, 835 
780, 418 
766, 974 



Net income 



$37, 343, 630 

3, 147, 786 

296, 934, 539 

300, 308, 159 

175, 463, 071 

69,968,116 

316, 003, 120 

97, 610, 467 

218,263,547 

278, 505, 778 

14, 638, 724 

209, 542, 522 

693, 202 

164,356,087 

130, 350, 876 

104, 748, 708 

85,653,111 

72,889,711 

61,869,565 

56, 075, 425 

48.812.738 

45, 962, 671 

42, 600, 680 

158. 414, 043 

111,612,136 

85, 527, 232 

118,144,874 

83, 504, 665 

61,996,893 

47, 102, 792 

39, 156, 883 

31,860,509 

26, 405. 685 

75, 152, 960 

38, 375, 090 

25,388,211 

19, 532, 897 
28. 121, 520 
15.751,404 

20, 008, 897 
1,5,888,479 
15.891,920 

5, 0.59, 242 

6, 373, 505 
(3) 

(') 
(') 
14, 593, 584 



3, 875, 605, 654 



3,864, 
3, 106, 
2,811, 

2. 508. 
2.764, 

3, 108. 
4. 189, 
6, 253. 
6. 458, 
5, 398, 



452, 725 
263, 965 
720, 784 
890, 660 
354, 200 
633, 729 
1.30, 106 
465, 699 
089, 207 
451, 005 



Total tax 



$104, 286 
"2,' 473," 503 



1,192,961 



998, 459 
"2,"486^8i3 

"2,"788,'922 



2, 909, 508 
2, 9.55. 947 
2, 889, 973 
2, 905, 865 
2. 880, 783 
2, 749, 891 
2, 735, 690 
2, 600, 272 
2. 637, 364 

2, 589, 228 
12,093,790 
10, 083, 156 

9, 4.56, 657 
16,014,568 
13,716,5.50 
11,923,278 
10,470,111 
9,821,935 
8. 995, 287 
8.241,473 
28, 250, 753 
17,331,206 
12,59.5.409 
10, 342, 755 
15,841,216 
9. 330, 862 
12,639,318 
10, 622, 285 
11,060,131 

3, 623, 906 

4, 639, 334 
(3) 

(') 

m 

11,069,943 



296,063,388 



348, 687, 146 
202,971,449 
166,789,731 
1.37.414,061 
109, 593, 0.59 
77, 975, 788 
163,508,893 
396. 687. 348 
451, 606, 998 
305, 210, 059 



For footnotes, see p. 168 



160 



STATISTICS OF INCOME 



Table 9. — Individual returns^ with net income, 1937, hy States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



North Carolina 



Number 
of returns 



Net income 



Total tax 



North Dakota 



Number 
of returns 



Net income 



Under 1 (est.) ' 

Under 1 (est.) 

1 under 2 (est.) >... 

1 under 2 (est.)-... 

2 under 2.5 (est.) '. 

2 under 2.5 (est.)... 
2.5 under 3 (est.) '. 
2.5 under 3 (est.)... 

3 under 4 (est.) ^... 

3 under 4 (est.) 

4 under 5 (est.) "... 

4 under 5 (est.) 

5unrter6s 

5 under 6 

6 under 7 

7 under 8 

8 under 9. 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

60 under 60 

60 under 70 

70 under 80 

80 under 90 

sounder 100 

100 under 150 

1.50 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

7.50 under 1,000..-. 
1,000 under 1,.500-. 
1.500 under 2,000.. 
2,000 under 3,000-. 
3,000 under 4,000- - 
4,00(1 under 5,000- - 

5.000 and over 

Classes grouped '. 



Total. 



Summary for prior years; * 

1936 .-.- 

1935... 

1934 -- 

1933 

1932 

1931 

1930 

1929 

1928 

1927 



2,654 

356 

8,609 

7,762 

3,886 

1,135 

6,453 

1,397 

3,471 

3,777 

242 

2,520 

8 

1,542 

1,006 

724 

517 

396 

304 

265 

220 

156 

127 

435 

223 

122 

143 

59 

27 

35 

15 

9 

5 

25 

4 

3 

3 

4 

4 

1 

1 



$1, 975, 124 
179, 203 
11, 798, 288 
11, 148, 648 
8, 878, 072 

2, 525, 281 
17, 575, 155 

3,926,816 
11,474,988 
13, 147, 2G9 

1, 030, 965 
11, 262, 526 

41,751 
8, 433, 687 
6, 502, 756 
5,411,230 
4, 373, 063 

3, 749, 694 
3, 181, 665 
3,040,118 

2, 746, 444 
2, 101, 903 
1, 842, 853 
7, 485, 340 

4, 965, 672 

3, 296, 595 
4, 909, 301 
2, 587, 168 
1, 497, 648 
2, 272, 509 
1,122,812 

767, 836 

475, 432 
2, 905, 677 

718,512 

637, 426 

(') 
1.333,893 
1,906,688 

(') 

(') 



$5, 886 
"93,'758' 



43, 223 



36, 657 
'109,879' 
'i34,'2i7' 



143, 236 
137, 773 

143, 573 
144.056 

144. 066 
135,471 
144. 2p4 
143. 528 
116, 740 
110.329 
521.553 
443, 394 
348, 199 
655, 085 
421, 999 
289, 622 
501,332 
282, 342 
217,027 
149, 942 

1, 055, 837 
331, 949 
310,515 
(') 
743, 137 

1, 148, 041 



1,168 

31 

2.456 

1,881 

1,217 

278 

1,360 

316 

720 

754 

37 

435 

2 

246 

171 

83 

67 

47 

33 

22 

15 

11 

9 

25 

10 

5 

5 

1 

2 

1 



$764, 029 

17, 886 

3, 500, 299 

2, 720, 582 

2, 769. 855 

607, 584 

3, 681, 225 

889, 184 

2, 368, 120 

2, 625, 027 

157, 582 

1,923,387 

(2) 
1, 358, 445 
1, 108, 503 
618, 728 
564, 419 
448. 120 
343, 960 
251, 708 
187, 237 
147, 599 
130, 402 
425, 743 
214,004 
138, 194 
169, 103 

e) 
(3) 
(») 



$500 


22, 425 


10, 151 


9,314 


20, 421 


23, 096 



2, 265. 049 



1, 375, 799 



221, 052 



48, 645 



175. 495, 057 



10, 582, .369 



11.408 



28,351,977 



42, 075 
35, 813 
32, .305 
29, 462 
25, 972 
22, 625 
25, 216 
28, 860 
30. 997 
33. 398 



156.362.462 
124, 880, 237 
112,913,710 
91.673,065 
76, 989, 708 
88, 042, 580 
103, 624, 484 
130. 352, 897 
161.039.786 
155, 916, 827 



10, 499, 380 
6,419,410 
6,281,451 
4. 121, 232 
4,017,702 
2. 030, 396 
2, 426, 562 
3, 282, 957 
6.051,641 
4, 519, 870 



10, 809 
10, 039 
9.733 
8.359 
8.889 
7.013 
8.262 
9,170 
9.7)0 
9,758 



26, 705, 284 
23, 077, 405 
22, 351, 926 
18, 799, 800 
18, 182, 308 
18, 469, 626 
24, 476, 992 
31. 197, 2,50 
34, 878. 015 
33,252,341 



For footnotes, see p. 168. 



STATISTICS OF INCOME 



161 



Table 9. — Individual returns ' with net income, 1937, by States and Territories and 
by net income classes: number of returns, net incoyne and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



Ohio 



Number 
of returns 



Net income 



Total tax 



Oklahoma 



Number 
of returns 



Net income 



Under 1 (est.) ^ 

Under 1 (est.) 

1 under 2 (est.) '-.. 

1 under 2 (est.) 

2 under 2.5 (est.) >.. 

2 under 2..^ (est.)... 
2.5 under 3 (est.) 3.. 
2.5 under 3 (est.)... 

3 under 4 (est.) 3... 

3 under 4 (est.) 

4 under 5 (est.) 2,., 

4 under 5 (est.) 

5 under 6 2 

5 under 6 

6 under 7 

7under 8 

8 under9 

9under 10 

10 under n 

11 under 12... 

12 under 13 

13 under 14... 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

30 under 40 

40 under 50 

50 under 60 

60 under 70 

70 under 80 

80 under 90 

sounder 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500. 

500 under 7.50 

750 under 1,000 

1,000 under 1,500... 
1,.500 under 2,000... 
2,000 under 3,000. -. 
3,000 under 4,000... 
4,000 under 5,000... 

5,000 and over 

■Classes grouped '. . 



Total. 



Summary for prior years: * 

1936 

1935 

1934 

1933 

1932 

1931 

1930 

1929 

1928 

1927 



10, 353 

1,454 

82, 577 

89, 284 

20, 399 

10, 094 

48, 519 

12, 891 

22, 495 

29, 836 

1,126 

15, 853 

49 

9,433 

6,258 

4,341 

3,137 

2,289 

1,843 

1.444 

1,247 

996 

840 

2, 695 

1,417 

860 

947 

520 

270 

179 

98 

70 

48 

113 

36 

27 

16 

11 

3 

4 

4 

1 



$7, 476, 034 
739, 889 

109, 325, 985 

127,443,668 
46, 364, 312 
22, 292, 361 

131,417,663 
36, 393, 947 
73, 979, 113 

103, 351, 368 
4, 795, 618 
70, 575, 520 
262, 151 
51, 576, 907 
40, 513, 130 
32, 465, 169 
26. 597, 683 
21, 684, 156 
19, 314. 520 
16, 595. 017 
15, 567, 254 

13, 435, 046 
12, 180, 577 
46, 481, 985 
31,623,631 
23, 470, 774 
32, 388, 185 
23, 021, 214 

14, 722, 439 
11,635,191 

7, 299, 278 
5, 897, ,587 
4, 526, 825 
13, 688, 845 
6, 045, 091 
6, 149, 892 
4, 455, 922 
3, 794, 395 

(3) 
2, 403, 514 
3, 565, 514 

(3) 



$24, 552 
'984,904' 
"36i,'9i2" 



278, 045 
'796,'oi9 
873,227 



900. 960 
881, 765 
881, 573 
884, 267 

841, 973 

842, 792 
807, 217 
824, 304 
760, 012 
730, 988 

3, 281, 476 
2, 827, 505 

2, 564, 295 
4, 332, 497 

3. 744, 229 
2, 815, 351 
2, 573, 599 
1,827,119 
1,656,753 

1, 406, 328 
5, 166, 194 

2, 697, 958 
3, 076, 559 
2, 371, 994 
2, 134, 717 

(3) 
1, 517, 063 
2, 387, 289 



3,463 

254 

11,250 

6,205 

5,838 

1,840 

6,558 

1,345 

3,473 

4,814 

147 

3,553 

18 

1,673 

1,107 

725 

523 

381 

298 

270 

176 

152 

101 

435 

226 

137 

159 

79 

34 

32 

15 

8 

3 

14 

9 

6 

1 

1 



$2, 264, 772 
145, 680 

16, 594, 698 
9, 700, 919 

13, 226, 001 
4, 086, 778 

17, 790, 955 
3, 761, 577 

11, 466, 215 

16, 908, 820 

633, 763 

15, 832, 264 

96, 854 

9, 132. 805 

7, 136, 257 

5, 418, 944 

4, 427, 862 

3, 610. 291 

3, 125, 779 

3, 096, 424 

2, 198, 931 

2, 052, 093 

1, 464, 868 

7, 495, 407 

5, 003, 965 

3, 738, 503 

5, 425, 631 

3,511,953 

1, 882, 863 

2, 054, 492 

1, 130, 730 

681, 400 

(3) 

1,668,271 

1, 497, 632 

1,362.059 

(5) 
(») 



$4,980 


105, 921 


69, 138 


49, 631 


146, 321 


193, 944 



2, 567, 586 



1, 653, 367 



907, 792 



384, 077 



1, 228, 084, 956 



59, 702, 803 



55, 323 



190, 524, 308 



308, 789 
246, 888 
209, 589 
181,212 
188, 141 
164, 809 
199, 600 
215, 804 
218, 479 
222, 707 



1. 078, 986, 270 

766, 528, 630 

631, 348, 370 

511,694,014 

556. 313, 005 

689, 352, 135 

950, 397, 134 

1. 259, 571. 939 

1, 302, 762, 001 

1, 153, 756, 214 



58, 476, 868 
28, 981, 842 
19, 761, 006 
13, 237, 425 
12, 296, 627 
9, 742, 860 
21, 879, 272 
43, 633, 678 
55, 393, 575 
35, 519, 337 



51,277 
44, 909 
39, 279 
33,224 
31,832 
28, 242 
32, 526 
37, 000 
37, 261 
39, 806 



170, 786, 455 
139, 147, 683 
120, 030, 049 
89, 908, 905 
83, 367. 347 
93, 593, 901 
157,410,693 
216,346,916 
211, 061.. 345 
212, 341, 656 



For footnotes, see p. 168. 



162 



STATISTICS OF INCOME 



Table 9. — Individual returns ' with net income, 1937, by States and Territories and' 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 


Oregon 


Pennsylvania 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Under 1 (est.) 2 


1,972 

180 

10, 751 

13, 351 

3,447 

1,511 

5,817 

1,632 

2,460 

3,866 

86 

2,177 

2 

1,268 

838 

526 

364 

268 

198 

145 

140 

107 

90 

274 

118 

64 

85 

40 

13 

7 

1 

1 


$1, 324, 674 
98, 102 

14, 790, 449 
19, 290, 948 

7, 832, 076 

3, 344, 251 

15, 742, 218 

4, 592, 063 

8, 092, 388 
13, 356, 971 

366, 673 

9, 707, 994 
(3) 

6, 934, 148 
5,418,829 
3, 921, 734 
3,090,110 
2, 548, 164 
2, 077, 939 
1, 660, 590 

1, 744, 511 
1, 442, 459 
1, 306, 835 
4, 687, 714 

2, 630, 725 
1, 730, 449 
2, 878, 772 
1, 740, 304 

698, 453 
451, 423 
(3) 




21, 364 

2,310 

103, 014 

120, 909 

34, 883 

26, 919 

75, 736 

18, 126 

38, 273 

43, 109 

2,107 

32, 617 

106 

14, 051 

9,189 

6,284 

4,348 

3,350 

2,522 

2,075 

1,737 

1,377 

1,267 

3, 875 

2,052 

1,235 

1,366 

686 

394 

275 

172 

116 

91 

196 

62 

25 

17 

26 

8 

13 

7 

1 


$15, 323, 056 

1, 134, 946 

136, 245, 522 

183,642,485 

79,687,205 

59, 582, 128 

205. 325, 648 

50, 187, 321 

126, 687, 357 

151, 200, 435 

9, 008, 387 

145, 520, 877 

567, 819 

76, 648, 657 

59, 406, 012 

46,939,112 

36, 806, 882 

31, 760, 659 

26, 426, 445 

23, 817, 465 

21, 685, 569 

18, 553, 407 

18, 359, 083 

66, 570, 818 

45, 614, 304 

33, 780, 285 

47,001,392 

30, 518, 176 

21, 527, 359 

17, 837, 691 

12, 830, 408 

9, 880, 486 

8, 665, 763 

23, 488, 362 

10, 408, 284 

5, 493, 854 

4, 672, 803 

8, 876, 621 

3, 445, 735 

7, 730, 982 

(3) 

(3) 




Under 1 (est.)- - 


$3, 391 


$36, 774 


1 under 2 (est.) 2 




1 under 2 (est.) 


157, 534 


1, 797, 767 


2 under 2.5 (est.) 2 




2 under 2.5 (est.) 


56, 290 


1, 023, 432 


2.5 under 3 (est.) 2 . . 




2.5 under 3 (est.). 


35, 893 


703, 906 


3 under 4 (est.) 2 




3 under 4 (est.) 


103, 788 


1, 547, 542 


4 under 5 (est.) 2 




4 under 5 (est.) . 


123,817 
(3) 

119,345 

116,644 

105, 851 

101,418 

99, 091 

93, 084 

79, 389 

89, 948 

82, 139 

77, 587 

325, 552 

231, 180 

184, 640 

380, 337 

278, 077 

130,863 

98, 569 

(3) 

(3) 


1, 919, 863 


6 under 6 '- 




5 under 6 . . 


1,373,303 


6 under 7 ___ . . _ 


1, 332, 762 


7 under 8 


1, 301, 304 


Sunder 9 


1, 236, 952 


9 under 10-_ 


1, 248, 541 


lOunder 11 . 


1, 206, 647 


11 under 12 . 


1, 169, 194 


12 under 13 


1, 160, 188 


13 under 14 


1, 058, 765 


14 under 15 


1,117,408 


15 under 20.. 


4, 762, 539 


20under 25 


4, 121, 862 


25 under 30 


3, 739, 723 


30 under 40 . 


6, 336, 909 


40 under 50 


4, 981, 335 


50under60 . .. 


4. 199, 359 


60 under 70 


3, 953, 770 


70 under 80 ... 


3, 224, 290 


80 under 90 


2. 797, 495 


90 under 100 


2,715,482 


100 under 150 


3 


370,087 


139, 065 


8, 789, 856 


150 under 200 


4, 646, 497 


200 under 250 . 








2, 714, 607 


250under300 








2, 475, 240 


300 under 400 








4, 979, 498 


400 under 500. . . 








2, 035, 223 


500 under 7.50 








4, 867, 781 


750 under 1,000., 








(') 


1,000 under 1.500 








(') 


1,500 under 2,000 . 










2,000 under 3,000... 








1 





(') 


3,000 under 4,000 






" 




4,000 under 5,000. 














5,000 and over 














Classes grouped ^ . 




162, 405 


38, 271 




9, 836, 755 


6, 763, 476 










Total.. . 


51, 802 


144, 034, 458 


3, 251, 763 


576, 2P1 


1, 892, 696, 555 


97, 339, 290 






Summary for prior years:* 
1936... 


37, 778 
33, 273 
27, 253 
27, 572 
25, 845 
20, 181 
26,047 
28,194 
29, 333 
33, 903 


118,060,934 
91, 305, 901 
71, 076, 619 
66, 190, 038 
60, 519, 751 
73, 154, 659 
106, 076, 107 
129,360,587 
132, 829, 673 
140, 739, 425 


3. 213, 027 

1, 625, 697 

1, 084, 638 

795, 893 

670, 442 

474, 055 

1,073,686 

1. 663, 775 

2, 387, 276 
1, 920, 597 


470,511 
389, 994 
342, 308 
323, 960 
334, 471 
267, 848 
322, 503 
364, 145 
361, 220 
381, 374 


1, 604, 324, 714 
1, 273, 383, 247 
1, 067, 788, 870 
970, 250, 517 
1, 023, 234, 341 
1, 193, 400, 020 

1, 620, 314, 109 

2, 217, 9.58, 557 
2, 204, 955, 406 
2, 091, 825, 217 


104, 979, 166 


1935 


57, 052, 818 




44, 42.3, 725 


1933 


32, 872, 779 


1932 


39, 904, 410 


1931. . 


24, 854, 558 


1930 ... 


46, 825, 528 


1929 


90, 694, 655- 


1928 .... 


96, 772, 465 


1927 


78, 674, 525 







For footnotes, see p. 168. 



STATISTICS OF INCOME 



163 



Table 9. — Individual returns ^ with net income, 1937, by States and Territories and 
by net income classes: nnmber of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 


Rhode Island 


South Carolina 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Under 1 (est.) 2 


1,455 

186 

10, 485 

8,729 

2,629 

1,977 

4,248 

1,101 

2,122 

2, 931 

154 

2,242 

4 

1,153 

721 

631 

395 

286 

246 

213 

145 

143 

96 

387 

184 

107 

164 

71 

50 

31 

17 

14 

7 

25 

10 

6 

3 

4 

1 


.$1, 026, 604 
89, 511 

13, 652, 132 

13, 464, 307 
5, 923. 400 
4, 362, 907 

11, 562, 125 

3, 031, 956 
6, 961, 319 

10, 244, 914 

656, 268 

9, 985, 858 

21, 448 

6, 304, 465 

4, 672, 828 
3, 974, 494 

3, 346, 287 
2, 710, 336 
2, 572, 865 
2, 444, 955 
1,813,177 

1, 927, 123 
1, 383, 290 
6, 638, 014 

4, 099, 177 
2, 925, 235 
5, 676, 1,52 
3, 130. 178 

2, 753, 134 
1, 998, 0.58 
1, 278, 626 
1,186,443 

669, 158 

3, 054, 442 
1, 702, 670 
1, 382, 589 

m 

1, 401, 518 

(3) 




1,673 

156 

4,652 

3,769 

2,225 

566 

2,528 

712 

1,497 

1,772 

82 

1,152 

4 

703 

446 

318 

222 

119 

124 

98 

72 

52 

46 

134 

84 

36 

37 

12 

10 

3 

1 

5 

1 

3 

2 


$1, 204, 272 

81, 607 

6, 645, 511 

5, 383, 038 
5, 027, 997 

1, 262, 547 

6, 847, 166 

2, 002, 667 
4, 959, 335 
6, 195, 203 

353, 827 
5, 118, 480 
21, 518 
3, 836, 612 
2. 892, 821 
2, 376, 981 
1, 884, 726 
1, 130, ,364 

1, 300, 974 
1,127,511 

899, 954 
697, .560 
669, 299 

2, 273, 775 
1, 905, 991 

977, 484 
1, 275, 376 
521, 106 
540, 982 
195. 167 
(') 

424, 890 
(3) 

403, 003 
(3) 




Under 1 (est.) 


$2, 973 


$2, 634 


1 under 2 (est.) 2 




1 under 2 (est.) - 


139, 549 


43,199 


2 under 2.5 (est.) 2 




2 under 2.5 (est.)-. . . 


74,464 


21, 170 


2.5 under 3 (est.) 2_ 




2.5 under 3 (est.) 

3 under 4 (est.) 2 


49, 826 


17,523 


3 under 4 (est.) 


116,674 


50, 660 


4 under 5 (est.) 2 




4 under 5 (est.)- — . - 


140, 965 


68, 571 


5 under 6 2 




5 under 6 


119, 638 
115,362 
115, 737 
118,349 
111,500 
117, 202 
122, 261 

97, 805 
110, 765 

87, 542 
479, 261 
370, 012 
329, 722 
771, 230 
512, 347 
530, 338 
439, 874 
327, 373 
338, 843 
209, 849 
1, 158, 571 
770, 755 
694, 426 

(3) 
793, 020 

(3) 


62,289 


6 under 7 . - 


59,494 


7 under 8 .. 


60,656 


8 under 9 .. .- _.. _-. 


63,048 


Sunder 10 


42, 783 


lOunder 11 


56, 134 


11 under 12 


54, 012 


12 under 13 


45, 330 


13 under 14. 


37, 861 


14 under 15 . 


40, 766 


15 under 20 . ..- 


155, 246 


20 under 25 . 


168, 231 


25 under 30 ........ 


102, 869 


sounder 40 ... 


167, 152 


40 under 50 


83, 733 


50 under 60 - 


100, 239 


60 under 70 . - 


45, 311 


70 under 80... . . 


(') 


sounder 90 . -. 


123,336 


■90 under 100- .. . 


(3) 


100 under 150 


159, 867 


ISOunder 200 


(') 


200 under 250 




250 under 300 








300 under 400 .. . 








400 under 500 ... 








500 under 750 ... . 








750 under 1,000 . 














1,000 under 1,500 














1,500 under 2,000 














2,000 under 3,000 . 














3,000 under 4,000. . 














4,000 under 5,000- . 














5,000 and over-- . . 














'Classes grouped '. .. 




1, 267, 061 


700, 621 




479, 259 


179, 197 










Total . 


43, 273 


151, 295, 024 


10, 066, 754 


23, 316 


70, 917, 003 


2, 001, 311 






Summary for prior years: < 
1936--- 


38, 424 
33, 009 
31, 235 
29, 489 
30, 581 

22, 375 

23, 862 
26, 481 
25, 801 
25, 184 


141, 967, 609 
113,640,801 
104, 193, 731 
92, 589, 659 
101, 863, 121 
111, 1,59, 397 
136, 571, 363 
184, 531, 178 
176, 225, 164 
157, 464. 733 


10, 755, 927 
6, 002, 036 

5, 232, 124 
3, 452, 803 
3, 839, 178 
2, 598, 619 
4, 114, 526 
7, 851, 363 
8, 093, 013 

6, 332, 169 


19, 975 
16, 826 
14, 937 

12, 686 
11,902 
10, 536 
12, 179 
13,232 

13, 725 

14, 310 


61, 786, 752 
47,010,243 

41, 023, 968 
32, 131, 067 
29, 080, 658 
33, 858, 781 

42, 714, 132 
50, 257, 416 
55, 510, 360 
55, 218, 679 


1, 653, 997 


1935... 


802, 720 


1934 


735, 471 


1933. . 


450, 922 


1932 -. 


312, 924 


1931... . . 


197, 943 


1930 . 


304, 596 


1929 .. 


566, 262 


1928... 


716, 628 


1927 


554, 731 







For footnotes, see p. 168. 



164 



STATISTICS OF INCOME 



Table 9. — Individual returns^ with net income, 1937, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



South Dakota 



Number 
of returns 



Net income 



Total tax 



Tennessee 



Number 
of returns 



Net income 



Under 1 (est.)^---- 

Under 1 (est.) 

1 under 2 (est.)2__. 

1 under 2 (est.).-- 

2 under 2.5 (est.)2. 

2 under 2.5 (est.)- 
2.5 under 3 (est.)2. 
2.5 under 3 (est.)- 

3 under 4 (est.)2-.. 

3 under 4 (est.) 

4 under 5 (est.)2__. 

4 under 5 (est.) 

5 under 6 2 

5 under 6 

Bunder 7 

7 under 8 

Sunder 9 

9 under 10 

lOunder 11 

11 under 12 

12 under 13.. 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

sounder 40 

40 under 50 

50 under 60 

60 under 70 

rounder 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

2,50 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 ... 
1.000 under 1.500_. 
1,500 under 2,000.. 
2,000 under 3,000-. 
3,000 under 4,000,. 
4,000 under 5,000.. 

5,000 and over 

Classes grouped 3_ 

Total 



Summary for prior years: * 

1936. 

1935 

1934_ 

1933 

1932 

1931 

1930 

1929 

1928 

1927... 



1,044 

45 

2,601 

2,078 

1,039 

322 

1, 419 

302 

541 

749 

25 

453 

1 

233 

128 

92 

61 

42 

20 

16 

20 

15 

15 

38 

15 

4 

6 

3 

1 



$677, 560 

24, 295 

3, 634, 486 

3, 009, 209 

2, 363, 331 

713, 273 

3,841,991 

847, 893 

1, 782, 157 

2,616,923 

106, 747 

2,011,782 

(3) 
1, 266, 867 
822, 709 
687, 370 
512,979 
398, 320 
210, 591 
183, 991 
250, 335 
203, 912 
216, 313 
653, 566 
321, 429 
108, 102 
212, 531 
(=) 
(') 



25, 045 

li,'638' 

'6,943 



19, 651 



23, 057 



20, 507 

15, 120 
18, 806 
16, 188 

16, 442 
9, 0.59 
8,970 

12, 479 
11,505 
13, 956 
45, 690 
26, 217 
11,739 
29, 135 
(3) 
(3) 



1,934 

211 

12, 750 

8,513 

3.457 

2.432 

8,162 

1,643 

3,850 

4,747 

189 

4,072 

9 

1,705 

1,079 

734 

505 

438 

294 

241 

210 

170 

1.50 

429 

216 

130 

151 

86 

36 

17 

13 

9 

5 

4 

2 



$1, 354, 396 
114,194 

16, 673, 791 

13, 105, 394 
7, 876, 051 
5, 386, 571 

22. 095, 625 

4, 539, 658 
12, 651, 477 
16,611,827 

795, 929 

18, 167, 547 

48, 138 

9, 321, 420 

6, 969, 057 

5, 480, 255 
4, 290, 647 
4, 153, 452 
3, 081, 104 
2, 774, 176 
2, 623, 137 

2, 295, 325 
2, 175, 435 
7, 363, 498 
4, 803, 870 

3, 521, 385 
5, 158, 257 
3, 820, 210 
1, 996, 498 
1,101,489 

963, 824 
749, 555 
474, 125 
444, 692 
(3) 



(3) 



191, 717 



31, 146 



2, 547, 321 



11. 328 



27, 870, 379 



377, 107 



58, 598 



195, 529, 330 



10, 724 
9.582 
8,302 
7,555 
8,356 
7,387 
9,449 
10,449 
10, 649 
10, 969 



27, 755, 966 
24, 693, 550 
20, 105, 511 
16, 519, 323 
17, 956. 077 
22, 130, 693 
31,4.53,988 
40, 165, 070 
38, 954, 968 
35, 906, 515 



431,114 
345, 333 
225, 380 
188, 033 
137, 503 
105, 602 
178, 379 
390, 886 
321,516 
209, 667 



48, 048 
42, 341 
37, 938 
33, 464 
31,543 
28, 117 
32,682 
34, 664 
35, 039 
33,812 



173, 317, 393 
135, 557, 076 
115,788,720 
93, 395, 213 
88, 515, 162 
107, 251. 482 
140, 422. 521 
177, 388, 337 
190, 287, 682 
173, 162, 605 



For footnotes, see p. 168. 



STATISTICS OF INCOME 



165 



Table 9. — Individual returns'^ with net income, 1937, by Stales and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 
(Thousands of dollars) 



Texas 



Number 
of returns 



Net income 



Total tax 



Utah 



Number 
of returns 



Net income 



Total tax 



Under 1 (est.)^--. 

Under 1 (est.) 

1 under 2 (est.)2_.. 

1 under 2 (est.)--- 

2 under 2.5 (est.)^- 

2 under 2.5 (est.)__ 
2.5 under 3 (e,st.)2_ 
2.5 under 3 (est.).- 

3 under 4 (est.)2.^_ 

3 under 4 (est.)--- 

4 under 5 (est.)2... 

4 under 5 (est.) . - . 
Sunder 6 2 

5 under 6 

6 under 7 

7 under 8 

8 under 9 

9 under 10 

10 under 11 

11 under 12 

12 under 13 

13 under 14 

14 under 15 

15 under 20 

20 under 25 

25 under 30 

, sounder 40 

40 under 50 

sounder 60 

60 under 70 

70 under 80 

80 under 90 

90 under 100 

100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 .. 
1,000 under 1,500. _ 
1,500 under 2,000.. 
2,000 under 3,000.. 
3,000 under 4,000.. 
4,000 under 5,000.. 

5,000 and over 

Classes g;roui)ed 3. 

Total 



Summary for prior years: * 

1936 

1935 

1934 

1933 

1932 

1931 

1930 

1929 

1928 

1927... 



8,079 

214 

30, 026 

26, 139 

13, 004 

8,031 

21,235 

7,342 

12, 227 

23, 124 

710 

19, 136 

30 

8,508 

5,173 

2,760 

1,676 

1,312 

1,023 

852 

691 

600 

445 

1,508 

796 

452 

566 

274 

170 

92 

62 

32 

19 

63 

24 

10 

3 

3 



$5, 382, 193 
109, 772 
42, 192, 381 
40, 975, 037 
29, 602, 823 
17, 873, 303 
57, 758, 671 
20, 388, 869 
40, 337, 307 
81,355,947 

3,038,911 
85, 489, 664 
159, 618 
46, 463, 417 
33, 383, 832 
20, 549, 391 
14, 165, 912 
12, 410, 535 
10, 703, 892 

9, 770, 625 

8, 629, 607 
8, 091, 665 
6, 452, 296 

26, 065, 866 
17,701,840 
12, 333, 536 
19, 429, 271 
12; 184, 893 

9, 251, 549 
5, 945,- 865 
4, 678, 085 
2, 728, 248 
1,803,589 
7, 490, 307 
4,107,911 
2, 277, 842 

796, 093 
(3) 
(3) 
(3) 



$3, 129 
"399,680 



270, 887 



253, 605 



995, 813 



1,375,238 



969, 261 
905, 699 
731, 400 
615, 237 
603, 770 
574, 865 
571, 232 
534, 835 
533, 966 
447, 749 
2, 061, 876 
1, 725, 201 

1, 447, 460 
2, 727, 141 

2, 062, 373 
1,811,412 
1, 339, 577 
1, 208, 194 

788, 931 
568, 749 
2, 820, 334 
1, 859, 491 
1, 142, 271 
417, 168 
(3) 
(3) 
(3) 



1,070 

76 

3,704 

3,450 

1,690 

446 

3,251 

496 

1,557 

1,411 

95 

819 

6 

478 

337 

223 

142 

97 

90 

63 

46 

41 

34 

105 

62 

31 

38 

13 

8 

5 

2 



$743, 606 

36, 976 

5, 251, 683 

5, 029, 105 

3, 842, 402 

985, 067 

8, 796, 535 

1,399,325 

5, 124, 465 

4, 898, 746 

404, 320 

3, 648, 602 

32, 772 

2, 612, 131 

2, 187, 849 

1, 662, 720 

1, 203, 688 

918, 109 

946, 781 

720, 424 

573, 423 

552, 762 

491, 432 

1, 789, 304 

1, 370, 231 

854, 313 

1,279,146 

584, 736 

442, 790 

319, 859 

(') 



(2) 

411,295 

(0 



3, 511, 259 



2, 151, 834 



499, 560 



196, 415 



725, 591, 822 



33, 918, 378 



19, 892 



59, 614, 157 



156, 855 
131, 447 
118, 930 
105, 950 
102,966 
89, 158 
105, 058 
113, 555 
112, 273 
114, 534 



569, 444, 419 
439, 162v958 
366,713,839 
299, 577, 627 
279, 533, 040 
333, 673, 467 
448, 849, 717 
592, 518, 704 
580, 239, 493 
560, 322, 568 



27, 265, 553 
19, 498, 410 
11,312,971 
7, 160, 953 
5, 743, 888 
4, 634, 359 
8, 633, 146 
12, 866, 950 
14,401,968 
12, 909, 842 



16, 262 
14,088 
11, 458 
10, 807 
10, 624 
9,785 
11,777 
13, 163 
13, 262 
13, 029 



50, 926, 789 
39, 902, 816 
32, 016, 329 
26, 933, 168 
6 27, 180, 193 
31,863,657 
45, 369, 199 
59, 451, 690 
58. 809, 296 
53, 628, 897 



$1, 274 
•43,' 342 



15, 720 



11,456 



37, 295 



40, 808 



43, 862 
46, 161 
41, 770 
39, 686 
34, 629 
42,916 
33, 346 
29, 763 
30, 639 
28, 915 

123, 827 

120,732 
94, 093 

170, 274 
96, 734 
86, 260 
68,419 

(3) 



(3) 

167, 933 

(3) 



169, 713 



1, 619, 567 



1, 458, 140 
686, 084 
468, 653 
349, 519 
366, 273 
196, 095 
447, 953 
881, 606 

1, 095, 839 
851,031 



For footnotes, see p. 168. 



166 



STATISTICS OF INCOME 



Table 9. — Individual returns ^ with net income, 1937, by States and Territories and 
by net incoyne classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 


Vermont 


Virginia 




(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Under 1 (est "1 ^ 


151 

70 

3,297 

3,196 

652 

416 

2,046 

441 

750 

1, 046 

44 

584 

2 

344 

196 

127 

114 

95 

65 

58 

30 

33 

19 

83 

45 

22 

20 

13 

6 

3 

1 


$99,' 585 

31, 631 

4, 240, 380 

4, 532, 599 
1, 240, 477 

927, 540 

5, 552, 848 

1, 231, 658 

2, 449, 556 

3, 627, 197 
192, 688 

2, 620, 854 

(3) 

1.873,765 
1, 264, .356 
912, 307 
969, 442 
901, 969 
680, 502 
666. 328 
372, 351 
445, 662 
274, 629 
1. 422, 525 
985. 243 
,599, 615 
093, 561 
592. 922 
328, 032 
198, 971 
(3) 




3,001 

219 

12,741 

10, 976 

5,697 

3.043 

8,983 

1,906 

4,802 

6, 692 

217 

5,714 

10 

2,039 

1,277 

831 

629 

452 

3.59 

266 

219 

182 

154 

464 

253 

128 

169 

77 

39 

26 

17 

12 

29 
6 

1 


$2, 104, 677 
116,056 
17.894,023 
17, 499, 899 
12, 909, 836 

6, 715, 984 
24, 404. 048 

5, 278, 609 

15,810,289 

23, 599, 298 

931. 975 

2.5, 491, 483 

51,734 

11, 15,5, 713 

8. 260, 780 

6, 199. 740 

,5, .335, 219 

4, 285, 364 
3, 755, 013 
3, 048, 961 
2,732,641 
2, 455, 583 

2, 235, 721 

7, 958, 578 

5, 639, 808 

3, 493, 946 
5, 753, 664 
3, 374. 338 

2, 092, 587 
1, 687, 443 
1, 246, 992 
1,036,010 

675, 532 

3, 495, 273 
1, 051, 161 

(') 




Under 1 (est.) - .. 


,$971 


$3, 798 


1 under 2 Cest ) ^ 




1 under 2 (est.). 


35, 724 


191, 335 


2 under 2 5 (est.) ^ 




2 under 2.5 (est.) 

2 5 under 3 (est.) 2 


15, 616 


114,548 


2.5 under 3 (est.) 

3 under 4 (est.) 2 . 


10, 851 
""31," 831" 


84, 357 


3 under 4 (est.) 

4 under 5 (est.) ' 


248, 156 


4 under 5 (est.) - ... 


36, 686 


316, 732 








34, 767 
29, 585 
26, 365 

33, 629 
38, 199 

34, 064 
32, 773 
20, 032 
26, 245 
16, 373 

101,369 
88, 310 
07, 691 
94, 691 

100. 472 
63, 210 
45, 966 

(3) 


194, 663 


6 under 7 . 


175, 001 


7 under 8, .__ 


164, 332 




180,019 


9 under 10 


164, 992 


10 under 11 ._ .- 


163,279 




143, 941 


12 under 13 . . _. 


145, 888 


13 under 14 . . ._. _ 


140, 178 


14 under 15 


134, 879 


15 under 20 


560, 603 


20 under 25 


502, 389 


25 under 30 . . ,. 


385, 795 


30 under 40 _. 


767, 680 


40 under 50. 


545, 009 


50 under 60 . _ 


396, 621 


60 under 70 


371,435 


70 under 80 . . _ 


306, 935 


80 undprOO 


298, 012 


90 under 100 


2 
2 

1 


(3) 
(3) 
(3) 


(3) 
(«) 


214,323 


100 under 1.50 


1, 310, 505 


150 under 200 


477, 000 


200 under 250 


(.') 


2.50 under 300 










300 under 400 








3 
3 
1 


1, 007, 958 
1, 407, 719 
(5) 


563, 277 


400 under 500 








847, 190 


500 under 750 








(') 


750 under 1,000 










1,000 under 1,500 














1,500 under 2,000... 














2,000 under 3,000 








1 


(3) 


(3) 


3,000 under 4,000 










4,000 under .5,000 














5,000 and over 














Classes sirouped 3. _ ._ 




687, 925 


245, 957 




3. 240, 595 


2, 265. 272 










Total 


13, 874 


40,647,118 


1, 231, 377 


71, 045 


245,434,150 


12.378,744 






1936 


12.193 
10, 903 
9,824 
9,375 
10, 4.39 

7, 803 

8, 635 

9, 586 
9.394 
8.208 


37, 146. 202 
30, 293, 579 

26, 565, 697 
23, 937, 326 

27, 542, 982 
29,853,410 
39, 259, .341 
49, 916, 326 
48.086,175 
41. 842, 221 


1, 195, 886 
503, 958 
435, 666 
339, 220 
406, 645 
264, 753 
626, 874 
1,019,863 
1, 055, 710 
846, 932 


62, 449 
54, 835 
47, 814 

42, 920 

43, 336 
34, 689 

37, 915 

38, 631 
37, 619 
37, 393 


218, 974, 309 
171,203,815 
139, 932, 355 
117,634,811 
122, 228, 476 
129, 365, 027 
156, 272, 484 
179, 293, 926 
181.7,50.013 
172, 239, 863 


11,790,832 


1935.^ 

1934 


5, 268, 764 
3, 665, 810 


1933 . 


2, 399, 380 


1932 


2, 220, 452 


1931.. - 


1, 323, 722 


1930 


2, 050, 554 


1929 


3,201,104 


1928 


4, 408, 983 


1927. 


3,611.135 







For footnotes, see p. 168. 



STATISTICS OF INCOME 



167 



Table 9. — Individual returns ^ tvith net income, 19S7, by States and Territories and 
by net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Net income classes 




Washington 


5 


West Virginia 


(Thousands of dollars) 


Number 
of returns 


Net income 


Total tax 


Number 
of returns 


Net income 


Total tax 


Under 1 (est.) 2 


3,453 

152 

18, 145 

27, 693 

5, 232 

3, 815 

11,348 

3,968 

5,355 

9,754 

268 

5, 931 

V 

3,480 

1,881 

902 

.561 

399 

303 

222 

192 

179 

142 

435 

200 

112 

98 

51 

39 

25 

10 

11 

3 

8 

3 

3 


.$2, 362, 989 
.58, 071 
23. 664, 884 
39, 762. 180 
11,964,270 
8, 443, 387 
30,816,315 
11, 127, 126 
17, 6.32, 172 
34, 076. 406 

1, 1.55, 022 
26, 442, 022 

57, 849 
19, 000, 940 
12, 161, 797 

6, 719, 455 
4, 742, 540 
3, 778, 374 

3, 184, 716 

2, 540, 620 
2, 392, 437 
2, 414, 889 

2, 066, 040 

7, 483, 343 

4, 435, 923 

3, 045, 861 
3, 300. 321 
2, 310, 988 
2, 136, 942 
1, 588, 609 

747, 452 
929, 467 
284, 380 
989, 942 
523, 149 




2,193 

206 

13, 030 

12,233 

3, 348 

2,333 

7,808 

1,787 

3,811 

4,784 

242 

2,661 

8 

1,289 

833 

514 

378 

302 

224 

150 

1.55 

115 

115 

335 

166 

88 

88 

44 

26 

20 

16 

3 

4 

12 
1 


$1, 530, 782 
101,341 

17, 787, 915 

18, 283, 389 
7, 589, 261 
5, 143, 319 

21,181,713 
5, 005, 643 
12, 564, 634 
16, 705, 191 

1, 037, 773 
11, 842, 921 

43, 353 
7, 051, 340 
5, .383, 999 
3,831,129 
3, 19.5, 364 

2, 864, 693 

2, 347, 278 
1, 720, 289 
1, 9.39, 375 
1, 54.5, 432 

1, 666, 921 
5, 769, 822 

3, 694, 559 

2. 395, 277 
3, 065, 332 
1, 940, 855 
1, 424, 764 
1,291,878 
1, 196, 363 

(3) 

384, 558 
1, 462, 179 
(3) 




Under 1 (est.) . _ 


$1, 733 


$3. 419 


1 under 2 (est.) * 


1 under 2 (est.) --- 


310, 1.53 
"""132," 242" 

ii6,"6i9" 
'""386,'087" 

430,"822' 


168, 633 


2 under 2.5 (est.) 2 


2 under 2.5 (est.) 

2.5 under 3 (est.) 2 


85, 124 


2 5 under 3 (est.).. . . - 


54, 343 


3 under 4 (est.) 2... 


3 under 4 (est.) 


144,104 


4 under 5 (est.) 2 -. 




4 under 5 (est.) 


138, 527 


5under62 






396, 069 
323, 165 
229, 214 
197, 639 
182, 484 
165, 889 
144, 653 
146, 206 
156, 277 
142, 078 
587. 911 
423, 953 
355,911 
453, 022 
409, 935 
416, 7.56 
.346, 488 
189, 880 
260, 870 

90,1.55 
377, 443 
238, 873 

(3) 


123, 953 




119, 934 




102. 982 




105, 288 




114,612 


10 under 11 

11 under 12 - 


107, 162 
83, 374 


12 und'^r 13 


105, 367 


13 under 14 


8,5, 4.59 


14 under 15 ... 


101,033 


15 under 20 . - 


409, 690 


20 under 25 . ^ 


332,117 


25und"r30 


259, 468 


30 under 40 . . 


417, 724 


40 under 50 . . . -- 


316, 463 


50 under 60 _ .-_^- 


276. 012 


60 under 70 -.- - 


287, 062 


70 under 80 .. .-^- 


300, 660 


80 under90 . - 


(') 


90 under 100 _. 


123, 902 


100 under 1.50 


555. 007 


150 under 200... 


(') 


200 under 250 . .. 




250 under 300 


1 


(3) 


(') 


300un'Jer400 


2 


(3) 


(3) 




400 under 500 . 








500 under 750 














750 under 1,000 














1,000 under 1,500 














1,500 under 2,(!00 














2,000 under 3,000 




























4,000 under 5.000. 




























Classes grouped ' 




1, 344, 270 


707, 783 




682, 715 


282, 630 








Total .. „ 


104, 386 


295, 685, 148 


8, 315, 210 


59, 323 


173, 671, 357 


5, 203, 949 






Summary for prior vears' ' 

1936 

19.35 

1934 


88, 640 
69, 919 
60,151 
54, 539 
56. 434 
51, 781 
63, 129 
65, 240 
66, 167 
62, 200 


259, 649, 969 
197, 923, 584 
153, 639. 087 
131, 6.39. 579 
133, 697, 243 
174, 8,58, 452 
238. 857, 983 
302, 258. 404 
273, 648, 593 
2.52, .547. 211 


7, 875, 628 
3, 868, 053 
2, 551, 738 
1, 646, 568 
1, .557, 558 

1, 238, 044 

2, 750, 143 
5, 775, 343 
4, 464, 930 
2, 913. 642 


47, 527 
37, 224 
30, 297 

25, 837 

26, 872 
22,118 

27, 130 

29, 803 

30, 643 
32, 500 


146, 74.5, 636 
106, 920, 022 
87, 992, 253 
69, 425, 751 
73, 659, 579 
80, 333, 944 
110, 726, 146 
136, 768, 017 
140, 128, 751 
1.39,696,175 


5, 160, 600 
2,276,187 
1,674,942 


1933 


1, 107, 746 


1932 


928, 480 


193L. 


515, 60O 




1,238.711 


1929_.. 


2, 298, 875 


1928„_ 


2, 920, 822 


1927 . 


2, 519, 731 







For footnotes, see p. 168, 



16S 



STATISTICS OF IXCO-ME 



Table 9. — Indiridual reiurm^ with net income, 19S7, by States and Territories and 
hj net income classes: number of returns, net income and total tax; also totals for 
prior years — Continued 



Xet LDCome classes 
(Thousands or dollars) j 

! 




Wisconsin 




AVyoniins 


Xumber 
of re- 
turns 


Xet income 

1 


Total t-u 


Xumler 
of re- 
turns 


Xet income 


Total tax 


Under 1 e^i ■ ' 


1Z203 

946 

33.166 

39.052 

12.236 

4.485 

13.359 

4.213 

6,301 

8.740 

384 

4,845 

8 

3.231 

1.997 

1.3&5 

965 

729 

.>t5 

403 

312 

288 

246 

687 

3.53 

225 

203 

107 

62 

45 

30 

12 

18 

19 

8 

4 

4 


Ss. 415. 055 • 

468,325 1 

4.5.547.052 1 

56,022.295 i 

27.691,271 • 

9,919,745 ; 

36, 148. ISS ' 

11,822,694 

20.784.362 ; 

30,239,009 1 

1.654.248 • 

21.585.456 

42.508 

17. 652. 673 

12. 903. 284 

10. 323. 412 

8.169.036 

6.902.499 

5.711.731 

4.627.837 

3. 894. 323 

3. 883. .=32 

3.561.084 

11. 824. S37 

7. 862. 515 

6.186.795 

7.010.646 

4.718,942 

3.366.287 

1873.523 

2.258,810 

1,001,592 

1. 697,689 

2.168,122 

1. 361. 740 

9.39.594 

1.072.742 

1. .343, 046 




458 

27 

1.792 

3.195 

85S 

407 

1,451 

468 

858 

1,070 

40 

5r2 

2 

331 

171 

132 

92 

81 

33 

34 

23 

23 

19 

53 

21 

12 

14 

4 

4 

1 


«3n0.332 

14. 136 

2. 55Z 152 

4. 640. 775 

1.951.171 

902.642 

3,951.593 

1.31ii.014 

2.834,300 

3. 714, 141 

173,350 

Z538,059 

C) 
1. 814. 801 
1.111.838 
987.982 
778,998 
765,751 
346,226 
391,049 
287.835 
307.361 
274. 165 
917,764 
469.924 
332, .5.34 
47-2. 563 
174.424 
223,711 




TTnder 1 est.) 


S14.63S 


$477 


1 onder 2 (esi.'>— 


456.057 


37.068 






2 under 2 5 fest.) 


169,580 


14, 121 


2 5 under 3 (est 't ' 




2.5 under 3 vest.) ' 


111,578 


12.338 


3 under 4 (est. ^ - -] 


251,085 


•26. 711 






4 under 5 (est.) ! 


286,645 


30,673 


5 under 6 \ 


310.300 
2S3.394 
289.008 

27a 405 
■253.792 
•224.632 
209.051 
221.341 
215. 307 
834.478 
701.948 
678.901 
950.993 
763.495 
639.839 
630.514 
558.077 
276.664 
526.405 
78.5.398 
611.781 
472,950 
.^^^073 
747,4*4 


31.117 
23.496 


7under 8 > 

S under & . 


27.495 
26.508 


9 under 10 


27.817 


in nndpr 11 


15. 519 


11 under 12 

l** nndpr 1.^ 


18.109 
14.421 


13 under 14. _ . . .. 


17.397 


14 under 15 


16. 439 


15 under 20 

?n nrdpr ''t 


64. .556 
4-2. 434 


25 under 30 


.37. 438 


30 under 40 v 

4(1 nndpr .tO 


62.3.38 
27.423 


50under60 .. 


44,626 


fin nndpr 70 


C) 


70 nndpr 80 












90 under 100 






]00underl50 . 


-.—.._-- 




1-50 under 200 ' 




200 under 250 








25i"ninder3f«.. . 








300 under 400 


""" " 




400 under 500._ . . _. 







,Vt\ nndpr 7.tO . 






1 


(') 


('^ 


750 mder 1.000 








l.flOn under 1. =00 












1.500 under 2.000 












2,000 under 3.f"0n. 












3,000 under 4,non 












4,000 under 5.000 


:::::] 










5.000 and over 


— 1 — -- ' 









Class^e? erouDed ' 


' 






742,889 


442.961 




j ' 






Total.- 


151. S20 


403. 656 499 


13. .592. 844 


12.247 


.35.287.480 


1.061.4<;2 


1936 . . 

l<»3.=i 

1934 

1933 

1932„ 

1931 ... . 


124,302 

105.785 
92,826 
89.739 
91. .157 
816S1 
9.5.366 

103.044 
98 4<i.5 

VVi. 9=6 


3.3S, 951. 189 
258. 590. 449 
217. 3.50. 901 
184. 154. 155 
203.833.124 
251. 988.008 
3.57. 657. 240 
450. 934. 107 
45.3. 394. 323 
436. 579. 613 


13.615.062 
5. 577, 366 
5.009.731 
3. 106. 227 
3.222.425 
2.4.38.474 
5.892.638 
10.287.020 
IZ 4-^. 318 
10.621.745 


10. 702 
8.739 
7.182 
6'. 603 
6.796 
5. 891 
6.809 
8.140 
8.622 
8.870 


3n. 326. 918 
23. 703. 202 
19,035,620 
16.09.5.689 
16.189.839 
18.176.553 
22,979.517 
30.813.018 
3.t 233. 240 
31, 297. 698 


1.128.801 
646. 357 
583.601 
452. 240 
14.3. 717 
65.346 


1930 

1920 


141.44I1 
188.964 


192S 
1927I..IIII.I"""""!!.' 


372. 128 
274.644 



J Include* 36.i>>8 taxable retm-n":, Fr.nn IfHl. which correspond to ta.xahl«> returns. Form 1040, for estates 
and iru5i.« filed for prior years, and 8.463 tasable returns and 3,784 nontaxable returns for estates and trusts 
filed on Fcrm lCk40 which should have heen filed on Form 1C41. 

' Xontaiable returns. .Specific exemptions exceed net income. .\. negligible niunl<r of nontaxable 
refdms in net income cla.sses of ?6.00<i and over is not tabulated ser»arately. 

' Casses erouped to conceal identiry o' taxpayer. 

♦ For cbanees in the revenue acts affectins the comparability of statistical data from income-tax returns 
of individuals. s<»e section of this report entitled "Revenue Acts of 1913-1937 and certain tax provisions of 
the Xatinnal Industrial Recovery Act (1933)." pp. 188-195. 

i I^.c'ndes .V'a«ka. 

* Revised. See Statistics of Income for 1935, Part 1. p. 31, note 6. 



STATISTICS OF INCOME 



169 



Table 10. — Individual returns, Form IO4O, with no net income, 1937, by States and 
Territories: number of returns and deficit 



States and Territories 



XumlK^r 
iof returns 



Deficit 
(thou- 
sands of 
doUarsj 



States and Territories 





Deficit 


Number 


(thou- 


of returns 


sands of 




dollars) 


9&4 


2,124 


115 


378 


328 


662 


3,111 


11,822 


316 


730 


15,589 


79.583 


709 


1,832 


369 


500 


3,146 


1.3. 467 


1,397 


6.793 


886 


2.357 


5.821 


19,775 


3S3 


1,406 


424 


921 


463 


916 


645 


2.244 


3,600 


15,343 


278 


1,799 


114 


304 


763 


2,303 


1,522 


3,861 


580 


1.315 


1,876 


4,654 


284 


0/0 



Alabama 

Arizona 

Arkansas 

California 

Colorado --- 

Connecticut 

Delaware. 

DL-itrict of Colimibia 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Maine 

Maryland 

M assachusetts 

Michigan 

Minnesota 

Mississippi 

Missouri 

Montana 



586 

450 

520 , 

9, 167 I 

752, 

1, 392 ; 

151 

468 ! 

1,384 

917 

223 

244 

5,597 

1.455 

1.9.38 

1,481 

687 

948 

437 

967 

3.651 

2.768 

1,109 

720 

1.784 

365 



1,585 I 
1,475 
1.7.51 I 

29.968 I 
1,831 
5.013 

3a3 , 
1.325 J 
4.234 I 
2,877 
238 
1. 378 

23,946 I 
4, .588 1 
3. .569 : 
3.924 i 
2,018 ! 
2,891 I 
1,401 ! 
.3.496 I 

11,011 ! 

11,799 I 
3,547 
1,878 I 
5,689 
1,085 



Nebraska 

Nevada 

New Hampshire. 

New Jersey 

New Mexico 

New York 

North Carolina— 

North Dakota 

Ohio 

Oklahoma 

Oregon 

Pennsylvania 

Rhode Island 

.South Carolina.. 

South Dakota 

Tennessee 

Texas 

Utah 

Vermont 

Virginia 

Washington! 

West Virginia 

W Lseonsin 

W yoming 



Total. 



83,904 I 308,518 



1 Includes .Vlaska. 



170 



STATISTICS OF INCOME 



Table 11 — Individual returns, Form IO4O, with no net income, 1937, by deficit 
classes: sources of income and deductions, and deficit 

[Deficit classes and money figures in thousands of dollars] 

[For text defining items and describing methods of tabulating data, see pp. 1-7 and 30] 





Sources of income 




Salaries, 
wages, 

commis- 
sions, 
fees, 
etc. 


Divi- 
dends 
from 
domes- 
tic and 
foreign 
corpora- 
tions 2 


Taxable interest 


Part- 
nership 
profit < 


Income 
from 
fiduci- 
aries * 


Rents 
and 

royal- 
ties 


Busi- 
ness 
profit 


Net 
capital 
gain 5 




Deficit classes 


Bank 
depos- 
its, 
notes, 
mort- 
gages, 
corpora- 
tion 
bonds 


Par- 
tially 
tax- 
exempt 
Govern- 
ment 
obliga- 
tions 3 


Other 
income 


Under 5 ' 


33, 119 

7,213 

7,810 

4,352 

2, 515 

1,036 

910 

377 

49 

4 


27, 223 

6,636 

9,513 

6,101 

5,366 

1,702 

2,020 

951 

246 

683 


12, 596 

2,595 

2,597 

1,535 

897 

478 

419 

110 

2 

115 


689 

220 

320 

93 

166 

17 

25 

1 

33 


5,967 
1,946 
1,679 
775 
237 
65 
133 
34 
48 


4,327 

1,450 

1,793 

718 

1,192 

307 

408 

92 

1 

6 


29, 178 

4.481 

4,027 

1,424 

545 

136 

281 

27 

15 

32 


16, 772 

2,720 

2,298 

879 

581 

32 

67 

15 

57 


6,012 

2,524 

2,986 

2,065 

1,484 

594 

411 

385 

1 

484 


4,803 




1,135 


10 under 25 


951 


25 under 50 

sounder 100 

100 under 150 

150 under 300 

300 under 500 

500 under 1,000 

1,000 and over 


520 

428 

59 

65 

6 

{■) 
1 


Total 


57, 386 


60, 440 


21, 343 


1,563 


10, 885 


10, 295 


40, 146 


23,421 


16, 947 


7, 968 


Deficit classes 


Sources 
of in- 
come— 
Contd. 


Deductions 


Deficit 




Total 
income 


Part- 
nership 
loss< 


Busi- 
ness 
loss 


Net 
capital 
loss 5 


Con- 
tribu- 
tions 


Interest 
paid 9 


Taxes 
paid 6 


Other 
deduc- 
tions 


Total 
deduc- 
tions 




Under 51 


140, 686 

30, 920 

33, 973 

18, 461 

13,412 

4,426 

4,740 

1,997 

420 

1,359 


9,932 

4,795 
7,696 
6,251 
3,955 
1,334 
3,186 
1,253 

"i,"63i" 


62, 973 

23, 110 

19.205 

8,034 

4,220 

2,191 

2,969 

444 

888 

126 


24,363 

2,071 

1.405 

491 

258 

50 

41 

10 

3 

3 


3,324 

532 

394 

183 

400 

24 

47 

5 

9 

1 


24,600 

5,511 

5,623 

3,286 

3,133 

1,197 

853 

121 

224 

52 


23,645 

4.773 

4,537 

2,583 

1,255 

298 

328 

132 

22 

47 


80, 922 
30, 768 
44, 659 
32, 512 
27, 246 
12, 351 
17, 168 
10, 395 
5,004 
17, 860 


229, 759 
71.560 
83. 519 
53, 340 
40, 466 
17,445 
24, 592 
12, 359 
6,150 
19, 721 


89, 073 
40, 640 


10 under 25 


49, 546 


25 under 50 . - .- 


34, 880 


sounder 100 

100 under 150 

150 under 300. 

300 under 500 

500 under 1,000 

1,000 and over 


27. 055 
13.019 
19, 852 
10, 362 
5,729 
18, 361 


Total 


250, 394 


40,034 


124, 159 


28,695 


4,919 


44,601 


37, 618 


278, 886 


558, 912 


308, 518 



' Includes returns with zero net income (total income is equal to total deductions, items 12 and 19, respec- 
tively, page 1 of Form 1040, p. 206). 

2 Excludes dividends received through partnerships and fiduciaries. 

s Interest received on United States savings bonds and Treasury bonds, owned in excess of $5,000, and on 
obligations of certain instrumentalities of the United States (see items 5 and 25, Form 1040, p. 200). 

* For explanation of item, see p. 11. 

' For definition of capital assets and amounts of net capital gain and loss taken into account for tax pur- 
poses, see text, p. 10-11, and section of the report entitled "Revenue Acts of 1913-1937 and certain tax provi- 
sions of the National Industrial Recovery Act (1933)." pp. 194-195. 

9 Excludes amounts reported in Schedules C and D as business deductions. 

' Less than $500. 



BASIC TABLES 



FIDUCIARY INCOME TAX RETURNS 



171 



186585—40 12 



STATISTICS OF IXCOME 



173 



Table 12. — Fiduciary returns with net income, taxable to fiduciary,^ 1937, by balance 
income- classes and by taxable and nontaxable returns: number of returns, sources 
of income and deductions, balance income,- amount distributable to benejiciaries, 
n,et income taxable to fiduciary, personal exemption, normal tax, surtax and total tax 

[Balance income classes and money figures in thousands of dollars] 

[For text defining items and describing methods of tabulating data see pp. 1-7 and 31-32] 





Number of 
returns 


Sources of income 




Dividends 
from do- 
mestic and 
foreign coi- 
porations ' 


Taxable interest 


Partnership 
profit ' 




Balance income ■ classes 


Bank 
deposits, 

notes, 
mortgages, 

corpora- 
tion bonds 


Partially 
tax-exempt 
Govern- 
ment 
obliga- 
tions ' 


Income 
from 
fiduci- 
aries ' 


Under 1 ' - - 


7,781 

5,091 

13, 280 

15.429 

3.370 

6,349 

1,679 

4,436 

246 

1,078 

424 

2,176 

126 

961 

49 

425 

6 

90 

8 

22 


2,002 

1,226 
13, 414 
20, 543 
12. 151 
25, 620 
13, 864 
38, 813 

3,639 
14, 943 

9,659 
50,179 

6,704 
46, 368 

5,159 
48, 847 

1, 251 
22, 337 

5, 824 
12. 688 


'1 2. 116 

11 714 

11 17,416 

11 9,9.58 

10, 372 

9, 736 

8. 4.53 

11.917 

1,624 

4,046 

3.636 

11,976 

1,364 

7,914 

938 

3, 579 

194 

2,171 

45 

462 


02) 
(12) 
(12) 
(12) 

686 
894 
535 
8-0 
146 
356 
267 
1,238 

50 
678 

17 
623 

88 

88 

1 


170 

11 

116 

769 

70 

690 

154 

1,085 

4 

307 

4 

760 

4 

988 

146 

483 

134 

365 


137 


Under 1 


40 




349 




942 




216 




1,098 


10 under 20 ' -_ 


255 


10 under 20 3 _ 


1,115 


20 under 25 3 --- 


135 


20 under 25 


606 




136 


25 under 50 - 


1,995 


.50 under 100 3 


26 


50 under 100 . 


1,760 


100 under 250 3 


382 


100under250 __. 


1,323 


250 under 500 3 




250 under 500 - ... 


1,033 


500 under 1,000 3 




500 under 1,000 




2 


1 000 and over 3 








11 


7,304 


8 
















Total 


63, 037 

3,784 
8,463 


362, 536 

1.127 
36, 292 


108, 639 

943 
7,594 


6,508 

225 
898 


6,259 

158 
2,040 


11,551 


Net income for estates and 

trusts filed cm Form 1040; * 

Nontaxable 


96 


Taxable 


3,611 






Grand total ... 


75,384 


399,954 


117, 176 


7,630 


8,457 


15, 258 






Nontaxable returns ' 

Taxable returns 


30, 753 
44, 531 


74, 794 
325, 160 


47, 101 

70, 075 


2,015 
5,615 


960 
7,498 


1,733 
13, 525 







For footnotes, see p. 175. 



174 



STATISTICS OF INCOME 



Table 12. — Fiduciary returns with net income, taxable to fiduciary,^ 1937, by balance 
income ^ classes and by taxable and nontaxable returns: number of returns, sources 
of income and deductions, balance income,^ amount distributable to beneficiaries, 
net income taxable to jiduciary, personal exemption, normal tax, surtax and total 
tax — Continued 

[Balance income classes and money figures in thousands of dollars] 





Sources of income— Continued 


Deductions 


Balance, income ^ classes 


Rents and 
royalties 


Business 
profit 


Net capital 
gain ' 


Other 
income 


Total 
income 


Partner- 
ship loss " 


Under 1 3 


2,736 

354 
2,887 
6,586 
1,544 
3,881 
1,454 
3,930 

384 
1,395 
1,287 
4,298 

775 
2,835 

425 
1,632 


561 

31 

240 

1,662 

87 

1,062 

36 

983 


374 

68 

2,220 

6,267 

964 

8,314 

610 

11,270 

104 

4,738 

176 

11,595 

112 

9,688 

16 

8,601 

12 

4,397 

12 

1,788 


597 
8 
444 
1,120 
295 
916 
294 
821 

44 
246 
189 
862 

71 
467 
122 
381 
119 

31 

3 

156 


8,694 
2,452 
37, 086 
47, 847 
26, 385 
52, 211 
25, 655 
70, 775 
6,081 
27, 004 

15, 506 
83, 730 

9,125 
71.441 

7,353 
65, 745 

1,919 
33, 513 

5, 884 

16, 433 


11 


Under 1 -. 




1 under 5 '- 


20 




35 






5 under 10 ._ 


17 


10 under 20 3 




10 under 20 .... 


17 


20 under 25 ' _ 




20 under 25 


366 
151 
827 
18 
742 
147 
277 
123 
615 




25 under 50 ^ 




25 under 50 


39 


50 under 100 3 




50 under 100 




100 under 250 3.._ 




100 under 250 .. . 




250 under 500 3 . .. .. 




250 under 500 


2,475 
1,337 




500 under 1,000 3 




500 under 1,000 






1,000 and over 3 






1,000 and over 


1,305 




3,123 




11,741 




Total... 


41, 522 

1,981 
7,558 


7,931 

654 
2,931 


74, 449 

169 
9,243 


7,185 

457 
3,752 


626, 580 
5,807 


163 


Net income for estates and 
trusts filed on Form 1040: * 
Nontaxable ... 


9R 


Taxable 


73,919 1 74 






Grand total 


51,061 


11,515 


83, 861 


11,394 


706, 307 5>fi4 








Nontaxable returns 3 _ 


13, 473 
37, 588 


2,018 
9,497 


4,768 
79, 093 


2,634 
8,760 


149, 496 
556,811 


72 


Taxable returns 


192 




Deductions— Continued 


Balance income 2 classes 


Business 
loss 


Net capital 
loss > 


Interest 
paid 9 


Taxes 
paid' 


Other 
deductions 


Total 
deductions 


Under 1 3 


68 
1 

39 

109 

4 

46 

15 

77 
7 
9 
('■) 

62 
4 

98 
1 

42 


397 

114 

188 

1,117 

75 

662 

53 

607 

16 

177 

33 

466 

4 

278 

11 

139 

2 

30 

4 

8 


787 

120 

441 

1,495 

223 

923 

187 

1,047 

37 

304 

42 

1,061 

24 

1,024 

15 

547 

('■) 

307 

20 

303 


1.485 

182 
1,801 
3,056 
1,006 
2, 402 

896 
2,808 

224 
1,078 

451 
3.087 

236 
2,422 

141 
1.862 

1,089 
131 
519 


1,841 

256 
2, 653 
3,963 
1,593 
3,028 
1,477 
3,680 

312 
1,311 

795 
4.213 

551 
3,077 

308 
2, ,538 

100 
1,503 

149 

667 


4 589 


Under 1 


674 


1 under 5 3 


5, 140 


1 under 5. 


9,776 


Sunder 10 3 


2, 905 


5 under 10 . 


7 079 


10 under 20 3 


2 636 


10 under 20 


8, 235 
597 


20 under 25 3 


20 under 25 


2 886 


25 under 50 3. _ 


1,320 


25 under 50,.. _ . . 


8,928 


sounder 100 3 


818 


50 under 100 


6,900 
476 


100 under 250 3 


100 under 250 .. 


5, 130 


250 under 500 3.. 


103 


250 under 500 .... 


18 


2,947 
305 


500 under 1,000 3... 


500 under 1,000 




1,498 


1,000 and over 3 






1,000 and over 


6 


('") 


25 


1,969 


372 


2, 373 


Total 


606 

85 
275 


4,381 

180 
784 


8,934 

507 
2,912 


26, 843 

935 
3,953 


34, 388 

13 1, 791 
13 8.349 


75, 314 

13 3, 525 
13 16,347 


Net income for estates and 
trusts filed on Form 1040: * 

Nontaxable 

Taxable 






Grand total.. 


966 


5,345 


12, 353 


31,731 


13 44, 527 


13 95, 187 






Nontaxable returns 3 


221 

745 


962 
4.383 


2,284 
10. 069 


7.306 
24, 426 


13 11,569 
13 32, 958 


13 22, 415 
13 72 773 



















STATISTICS OF I^s'COME 



175 



Table 12. — Fiduciary returns with net income, taxable to fiduciary,^ 1937, by balance 
income- classes and by taxable and nontaxable retuvjis: nnmhcr of returns, sources 
of income and deductions, balance income,^ amount distributable to beneficiaries, 
net income taxable to fiduciary, personal exemption, normal tax, surtax and total 
tax — Continued 

[Balance income classes and money figures in thousands of dollars] 



Balance income 2 classes 



Balance 
income 2 



Amount 
distribut- 
able to 
bene- 
ficiaries 



Net in- 
come 

taxable 
to 

fiduci- 
ary I" 



Personal 
exemp- 
tion 



Normal 
tax 



Surtax 



Total 
tax 



Under 1 ' 

Under 1 

1 under 5 ' 

1 under 5 

5 under 10 ^ 

5 under 10 

10 under 20 3 

10 under 20 

20 under 25 3 

20 under 25 

25 under 50 8 

25 under 50 

50 under 100 3... 

50 under 100 

100 under 250 3. _ 
100 under 250--. 
250 under 500 3... 
250under 500.-.- 
500 under 1,000 3, 
500 under 1,000- - 
1.000 and over3_. 
1,000 and over.-- 



4,105 

1,778 
31, 946 
38, 071 
23, 480 
45, 132 
23,019 
62. 540 

5,485 
24, 118 
14, 185 
74, 802 

8,307 
64, 541 

6,877 
60, 615 

1,817 
30, 566 

5,580 
14, 935 



1,053 

67 

28,244 

4,822 
22, 279 
13,961 
22, 378 
24, 769 

5,384 
10, 498 
14,009 
35, 761 

8,204 
32, 539 

6,858 
34, 291 

1,815" 
15, 624 

5,576 
10, 219 



3,052 

1,710 

3,702 

33, 248 

1,201 

31,171 

641 

37, 771 

100 

13. 620 
177 

39. 041 

103 

32, 003 

19 

26, 324 

2 

14, 942 

4 
4,716 



9,368 



6,497 



2,871 



7,473 

55 

12, 888 

10, 519 

3,305 

4,575 

1,636 

3,285 

240 

813 

414 

1,606 

122 

816 

49 

177 

6 

58 

8 

16 

75' 



1,039 
'i,'363' 



897 
'i,"396 



505 
1,474" 



1,212 
"731' 



2,675 
"i,"236 



1,243 
1,034 



3,348 
'5,124" 



4,822 
"6,"367 



594 



7,468 
"6,863" 



8,502 

'7,"457 



2,462 
'i,'499' 



2,650 
"i,'6i4 



Total 

Net income for estates and 
trusts filed on Form 1040: < 

Nontaxable 

Taxable 






304, 847 



(16) 
(16) 



246, 419 



2,282 
57, 572 



Grand total- 



is 551, 266 



16 304, 847 



306, 273 



48, 136 



3,752 

7,388 



59. 276 



8,508 



29, 068 



37, 575 



1,975 
10, 483 



8,855 



10, 830 



37, 923 48, 406 



Nontaxable returns 3. 
Taxable returns 



15 124, 800 
i« 426, 466 



15 115,799 
15 189, 048 



11, 283 
294, 990 



29, 894 
29. 382 



10, 483 



37,923 I 48,406 



I Includes returns Form 1040 which were filed in place of the proper 1937 Form 1041 for estates and trusts. 

- Balance income (item 15, face of return. Form 1041, p. 214) is the net income before distribution to 
beneficiaries which equals total income less total deductions (items 10 and 14, respectively, face of return. 
Form 1011. p. 214). 

3 Nontaxable returns. Specific exemptions exceed net income taxable to fiduciary (item 17, face of return, 
Form 1041, p. 214). 

* Net incomes for estates and trusts which were reported by the fiduciary on Form 1040 instead of on the 
proper 1937 return Form 1041. 

5 Excludes dividends received through partnerships and fiduciaries. 

« Interest received on United States savings bonds and Treasury bonds, owned in excess of $5,000, and on 
obligations of certain instrumentalities of the United States, is subject to surtax if the surtax net income is 
over $4,000 (item 4, face of return. Form 1041, p. 214). 

" For explanation of item see text, p. 11. 

6 For definition of capital assets and amounts of net capital gain and loss taken into account for tax pur- 
poses, see text, pp. 10-11, and section of this report entitled "Revenue Acts of 1913-1937 and certain tax 
provisions of the National Industrial Recovery Act (1933)" pp. 194-195. 

* Excludes amounts reported in schedule C and in business deductions. 

I'J Net income after distribution to beneficiaries (item 17. face of return. Form 1041, p. 214). 

II Includes taxable interest received on partially tax-exempt Government obligations. 

12 Tabulated with "taxable interest received on bank deposits, notes, mortgages, corporation bonds." 

13 Includes amount distributable to beneficiaries reported on returns Form 1040 which were filed in place 
of the proper 1937 Form 1041 for estates and trusts. 

I* Not available. 

15 Understated by the amount which is not available on returns Form 1040 which were filed in place of the 
iproper 1937 Form i041 for estates and trusts. 

1' Included in "other deductions'' and "total deductions." 
1' Less than $500. 



176 



STATISTICS OF INCOME 



Table 13. — Fiduciary returns xcith no net income, taxable to fiduciary,^ 1937, by 
balance deficit and income - classes: number of returns, sources of income and 
deductions, balance deficit or income before distribution to beneficiaries, amount 
distributable to beneficiaries and deficit 

[Balance deficit and income classes and money figures in thousands of dollars] 

[For text defining items and describing methods of tabulating data, see pp. 1-7 and 31 -32] 





Number 

of 
returns 






Sources 


income 








Dividends 
from do- 
mestic and 
foreign cor- 
porations 6 


Taxable interest 


Partner- 
ship 
profit * 


Income 
from 
fiduci- 
aries 5 




Balance deficit and income 2 
classes 


Bank de- 
posits, 
notes, 
mortgages, 
corpora- 
tion bonds 


Partially 

tax- 
exempt 
Govern- 
ment obli- 
gations " 


Rents 

and 

royalties 


Balance deficit classes: ' 

Under 1 


5.759 

3,233 

625 

330 

60 

113 

63 

17 

5 

6 

2 


1,400 

1,461 

728 

551 

81 

391 

295 

179 

404 

17 

59 


1,546 

1,602 

563 

413 

119 

163 

826 

103 

63 

93 

316 


83 
64 
37 
28 

(.3) 

2 
4 

1 

(.3) 
(13) 


136 

91 

24 

25 

5 

.. 


95 

66 

13 

5 


3.262 


1 under 5 . ._ _ _. 


3.636 


under 10. . 


1,144 


10 under 20 


953 


20 under 25. . 


472 


25 under 50 . 


46 
85 


489 


50 under 100 _ 


207 


100 under 250 ._ 


189 


250 under 500 






1,273 


5(X) underl.OOO 






94 


1.000 and over 






107 










Total .. 


10, 213 


5, 563 


5,807 


219 


286 


309 


11, 825 






Balance income classes: * 
I'nder 1 _ 


15, 114 

55. 098 

13, 636 

7,651 

1,515 

2,669 

1,022 

447 

90 

38 

16 


4,022 
59, 618 
52,028 
64, 980 
22,420 
63,881 
50,914 
52, 077 
23,583 
25, 201 
35, 031 


5,771 

64,685 

35. 858 

31,512 

8.192 

16. 905 

8.768 

7,100 

2,674 

1,932 

212 


352 

3,249 

1,769 

1.430 

340 

938 

429 

300 

302 

(13) 

39 


133 
931 

697 
741 
271 
017 
420 
641 
691 

(13) 


177 
1,934 
1,601 
1,765 

674 
1,749 
1,750 

902 

962 


4.118 


1 under 5 


23. 148 


5 under 10.. 


14, 275 


10 under 20 . _. 


15. 388 


20 under 25 


4.649 


25 under 50.. . 


12. 088 


.^0 under 100 


9.470 


100 under 250 


6, 226 


2.'>0 under 500. . 


1,757 


500 under 1,000 


875 


1,000 and over . 


25 


71 






Total - 


97, 296 


453. 755 


183, 607 


9,149 


5. 142 


11,539 


92, 065 






Returns with zero balance in- 
come 5 


180 


299 


207 


7 


13 


14 


264 






Grand total 


107, 689 


459, 617 


189, 622 


9,375 


5,441 


11,863 


104. 154 







For footnotes, see p. 178. 



STATISTICS OF INCOME 



177 



Table 13. — Fiduciary returns loith no net income, taxable to fiduciary,^ 1937, by 
balance deficit and income ^ classes: number of returns, sources of income and 
deductions, balance deficit or income before distribution to beneficiaries, amount 
distributable to beneficiaries and deficit — Continued 

[Balance deficit and income classes and money figures in thousands of dollars] 



Balance deficit and income 2 
classes 


Sources of income— Continued 


Deductions 


Business 
profit 


Net capi- 
tal gain » 


Other 
income 


Total 
income 


Partner- 
ship loss s 


Business 

loss 


Net capi- 
tal loss » 


Balance deficit classes: ^ 

Under 1 

1 under 5 . 


259 
439 
106 
149 

44 
194 

41 


325 
314 
170 
238 
196 
110 
111 
203 
116 
39 


680 
1,156 

82 
201 

94 

88 
179 

20 
8 

34 
783 


7,784 
8,828 
2, 8''^6 
2, 562 
1,011 
1,482 
1,753 

695 
1,864 

277 
1,266 


49 
134 
124 
54 
31 
59 
121 


304 
879 
609 
527 
181 
302 
346 
11 


1,486 
1,735 


5 under 10-. . 


332 


10 under 20 


182 


20 under 25 . 


44 


25 under 50 . . 


102 


50 under 100 . 


83 


100 under 250 


190 


250 under 500 






2 


500 under 1,000... . 






73 


8 


1,000 and over ... ... ... 






2 














Total.. 


1,231 


1,821 


3,326 


30, 389 


573 


3,232 


4,166 






Balance income classes: * 

Under 1 . 


286 
2,080 
1,329 
1,788 

531 
1,459 
1,083 

910 

298 


371 
2,792 
2, :301 
2,774 

736 
2, 538 
1,292 
1, 194 

362 

115 
4,068 


704 
1,982 
1,646 
1,783 

506 
1,413 
1,550 

822 

1,303 

24 

1 


15, 933 
160,419 
111,505 
122, 161 

38, 320 
101,588 

75, 676 
70,170 
31, 930 
28, 147 

39, 447 


17 
54 
22 
24 

3 
22 

4 
24 


69 

160 

82 

46 

47 

41 

5 

7 

55 


1,297 


1 under 5 


3,888 


5 under 10 . 


1,846 


10 under 20 


1,453 


20 under 25 


360 


25 under 50 . 


659 


50 under 100 . 


268 


100 under 250 . 


149 


250 under 500 


12 


500 under 1,000 




12 


1,000 and over . . . .. 








5 












Total 


9,764 


18, 542 


11,732 


795, 296 


170 


513 


9,949 






Returns with zero balance in- 


42 


155 


330 


1,331 






2 










Grand total 


11,037 


20, 517 


15, 388 


827, 015 


743 


3,744 


14, 117 







For footnotes, see p. 178. 



178 



STATISTICS OF INCOME 



Table 13. — Fiduciary returns uiih no n^t income, taxable to fiduciary,^ 1937, by 
balance deficit and incojne- classes: number of returtis, sources of income one? 
deductions, balance deficit or income before distribution to beneficiaries, amount 
distributable to beneficiaries and deficit — Continued 

[Balance deficit and income classes and money figures in thousands of dollars] 



Balance deficit and income 2 
classes 


Deductions- 


—Continued 


Balance 
deficit or 
income 2 


-\ mount 
distrib- 
utable to 
benefi- 
ciaries 




Interest 
paidi» 


Taxes 
paid I" 


Other de- 
ductions 


Total de- 
ductions 


Deficit 11 


Balance deficit classes: ^ 

Under 1 _ ._. _ .-- 


1.510 

1.759 

958 

796 

458 
682 
934 
665 
229 
536 
.316 


2,545 

3,827 

1,447 

1,325 

434 

994 

603 

193 


3,935 
7.693 
3,708 
4,248 
1.154 
3.320 
5.048 
2,348 
3. 670 
3,197 
1,894 


9,829 
16, 026 
7,178 
7,133 
2.302 
5,460 
7.135 
3.407 
3,901 
3.832 
2,330 


12 2, 045 
n 7, 198 
12 4, 311 

12 4, 571 
12 1, 291 
12 3, 978 
12 5, 382 
12 2.712 
12 2, 038 
12 3, 555 
12 1.064 




2,045 


1 under 5 




7,198 


5 under 10 




4,311 


10 under 20 . . - 




4,571 


20 under 25 .. 




1,291 


25 under .tO 




3.978 


50 under 100 




5.382 


100 under 250 ..- 




2.712 


''tO nnder .=>00 




2.038 


500 under 1,000 


18 
117 




3,55.5 


1.000 and over 




1,064 


Total 


8.844 


11,502 


40,216 


68.533 


12.38.145 1 


38.145 






Balance income classes: * 

Under l._ .. 


791 

3.014 

i;394 

1,330 

447 

893 

618 

296 

99 

35 

118 


2,447 

9,923 

5.098 

5.062 

1,343 

3,246 

1,865 

1,416 

211 

137 

329 


3.120 

13, 213 

7.403 

7,993 

2,378 

5.380 

3.800 

3.652 

898 

720 

2,089 


7,740 

30,252 

15,845 

15.909 

4.578 

10,240 

6,560 

5,544 

1.275 

904 

2.541 


8,193 
130. 167 
95,660 
106. 252 
33, 742 
91.347 
69. 116 
64,627 
30.655 
27. 243 
36,906 


8,193 
130,167 
95,660 
106, 252 
33,742 
91,347 
69, 116 
64,627 
30.655 
27.243 
36.906 




1 under 5 




5 under 10 




10 Tinder 20 . 




20 under 25 




25 iindpr .tO 




.50 under 100 




100 under 250 




250 under 500 




.500 xmder 1,000 




1.000 and over 








Total--- 


9.034 


31. 077 


50,646 


101. 389 


693.907 


693.907 








Eetums with zero balance in- 
come ' .... 


85 


176 


1,067 


1,331 


i 






1 




Grand total 


17,964 


42,757 


91,928 


171,253 


1 t 




1 1 



I Returni= with no net income taxable to fiduciary (item 17. face of return. Form 1041. p. 214). returns with 
zero net income taxable to fiduciary (balance income is equal to amount distributable to beneficiaries, item 
15 and 16. respectively, face of return. Form 1041. p. 214). and retiuTis with zero balance income Ytotal 
income is equal to total deductions, items 10 and 14. respectively, face of return. Form 1041. p. 214). 

- Balance income (item 15. face of return. Form 1041. p. 214! is the net income before distribution to bene- 
ficiaries which equals total income less total deductions (items 10 and 14, respectively, face of return, Form 
1041, p. 214!. Balance deficit occurs when total deductions exceed total income. 

3 Renims with no net Income taxable to fiduciary Citem 17, face of return. Form 1041, p. 214). 

* Returns with zero net income taxable to fiduciary (balance income is equal to amoimt distributable to 
beneficiaries, items 15 and 16. respectively, face of return. Form 1041, p. 214). 

5 Total income (item 10. face of return. Form 1041. p. 214) is equal to total deductions (item 14, face of 
return. Form 1011. p. 214). 

^ Excludes dividends received through partnerships and fiduciaries. 

■ Interest rec-eived on United States savings bonds and Treasury bonds, owned in excess of -$5,000, and on 
obligations of certain instrumentalities of the United States, is subject to surtax if surtax net income is over 
$4,000 (item 4. face of return. Form 1041. p. 214>. 

s For explanation of item, see text, p. 11. 

' For definition of capital assets and amounts of net capital gain and loss taken into account for tax pur- 
poses, see test. pp. 10-11. and section of this report entitled "Revenue Ji.cts of 1913-1937 and certain tax 
provisions of the National Industrial Recovery .\ct (1933)", pp. 194-195. 

1° Excludes amounts reported in schedule C and in business deductions. 

II Deficit after distribution to beneficiaries (item 17, face of return, Form 1041, p. 214). 
■2 Balance deficit. 

u Less than S500. 



BASIC TABLES 



WHOLLY AND PARTIALLY TAX-EXEMPT GOVERNMENT 

OBLIGATIONS 

AMOUNT OWNED AND INTEREST RECEIVED 



179 



STATISTICS OF INCOME 



181 



Table 14. — Individual returns ^ with net income of $5,000 and over and with wholly 
and partially tax-exempt Government obligations, 1937, by net income classes and 
by each type of obligation: amount owned and interest received 

[Net income classes and money figures in thousands of dollars] 

[For text defining items and describing methods of tabulating data, see pp. 32-34] 









Amount owned at end of 


year 








Total 


Wholly tax-exempt obligations 


Partially tax-exempt obliga- 
tions 


Net income classes 


Total 


Obliga- 
tions of 
States 
and Ter- 
ritories 
or politi- 
cal sub- 
divisions 
thereof 

and 
United 
States 
posses- 
sions 


Obliga- 
tions 

issued 
under 

Federal 
Farm 
Loan 
Act 


Treasury 

note.-, 
Treasury 
bills, and 
Treasury 
certifi- 
cates of 
indebt- 
edness * 


Total 


United 
States 
savings 
bonds 
and 
Treasury 
bonds 


Obliga- 
tions of 
certain 
instru- 
mentali- 
ties of 

the 
United 
States 3 


5 under 6 

6 under 7_.. -__ .,_ 


195. 657 

190, 463 
163,465 
14.5,911 
123. 853 
120. 598 
102, 577 
100, 951 

83, 035 
82, 971 
426, 073 
308, 386 
253, 633 
430. 727 
325, 056 
225, 300 

191, 280 
169. 989 
128, 040 
137, 928 
398, 929 
209, 643 

97, 649 
109, 962 
140. 291 
77, 545 
164, 498 
64, 443 
33, 855 
31, 423 
29, 153 
13 
5 
123, 657 


108, 072 

111,916 

93,524 

85, 245 

71, 161 

75, 424 

62, 640 

61, 546 

49, 232 

51,350 

297, 040 

219, 027 

183, 867 

324, 420 

269, 978 

190, 409 

162, 009 

144, 713 

111,208 

124, 714 

366, 202 

193, 805 

94, 389 

106, 656 

135, 052 

74, 132 

160, 409 

63, 427 

33, 455 

31,347 

29, 117 

13 


73, 932 
78, 339 
67,915 

62, 002 
50, 690 
52, 114 
45, 265 
45, 366 
34, 779 
37, 334 

217, 247 

167, 076 

131, 294 

238, 144 

189, 179 

133, 181 

124, 024 

105, 469 

72, 048 

86, 377 

260, 758 

133, 780 

69, 370 

63, 520 
104, 730 

49, 651 

118,822 

35, 961 

24, 274 

2,261 

8,154 

13 


12,331 
9,177 
8,783 
6,698 
6,989 
7,248 
5,564 
7,044 

5, 756 
4, 526 

23, 771 
18, 760 
18, 190 

25. 178 

20. 179 
13, 938 
11,700 

10. 373 
13, 264 

11, 608 
28, 651 
11.872 

7.357 
9,489 
5.217 
4,309 

6, 456 
2, 326 

75 
400 
848 


21, 809 

24, 400 
16, 826 

16, 546 
13, 482 
16, 061 
11,811 

9,137 
8,696 
9,490 
56, 022 
.33, 191 
34, 383 
61,098 
60, 620 
43, 291 
26. 285 
28, 882 

25, 895 

26, 730 
76, 793 
48, 1.53 

17, 662 
33, 647 
2,5, 105 
20, 173 
35, 131 
25, 141 

9.106 
28, 687 
20, 116 


87, 585 
78, 547 
69, 941 
60, 665 
52, 691 
4.5, 174 
39, 937 
39, 405 

33, 804 

31, 621 
129, 032 

89, 359 
69, 766 
106, 307 
55, 078 

34, 891 
29, 271 
25, 275 
16, 832 
13, 214 

32, 728 
15,838 

3,200 

3,300 

5, 239 

3,413 

4,088 

1,015 

400 

76 

36 


78, 212 

69, 954 

62, 583 

54, 293 

47, 028 

40, 686 

35, 294 

35, 682 

30, 923 

28, 406 

116. 241 

81, 776 

61, 914 

98, 042 

51, 057 

31, 968 

26, 728 

23, 290 

15, 982 

12, 046 

31, 452 

14, 974 

3,072 

3,276 

4,513 

2.995 

3,685 

618 

400 

76 

16 


9,372 
8,593 


7 under 8 

s under 9 


7,358 
6,373 


9 under 10 


5,663 
4,488 
4,643 
3,723 


lOunder 11 

11 under 12 


12 under 13 


13 under 14 


2,880 


14 under 15 


3,216 


15 under 20 


12, 791 


20 under 25 _ 


7,583 


25 under 30-- 


7,852 
8, 265 


sounder 40.. . . . 


40 under 50 . 


4,021 
2,923 


50 under 60 


60 under 70 

70 under 80 . - - 


2,542 

1,985 


80 under 90 


849 


90 under 100. 


1,167 


100 under 1.50 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under 500 

500 under 750 

750 under 1,000 

1,000 under 1,500 


1,276 
864 
188 
30 
726 
418 
403 
397 


1,500 under 2,000 . 




2.000 under 3,000 

3,000 under 4,000 


""" 20 


4,000 under 5,000 






5 


5 




5,000 and over . 


123, 657 


28,760 




94, 897 














Total 


5, 386, 958 


4, 209, 159 


2,911,817 


318. 077 


979. 265 


1, 177, 799 


1, 067, 187 


110,612 







For footnotes, see p. 182. 



182 



STATISTICS OF INCOME 



Table 14. — Individual returns ' with net income of $5,000 and over and with wholly 
and partially tax-exempt Government obligations, 1937, by net income classes and 
by each type of obligation: amount owned and interest received — Continued 

[Net income classes and money figures in thousands of dollars] 





Interest received or accrued during the year 




Total 


Wholly tax-exempt obligations 


Partially tax-exempt obliga- 
tions 


Net income classes 


Total 


Obligations 
of States 
and Ter- 
ritories or 
political 
subdivi- 
sions thereof 
and United 
States pos- 
sessions 


Obliga- 
tions 

issued 
under 

Federal 

Farm 

Loan 

Act 


Treasury 

notes. 
Treasury 
hills, and 
Treasury 
certifi- 
cate.s of 
indebt- 
edness s 


Total 


United 
States 
savings 
bonds 
and 
Treasury 
bonds < 


Obliga- 
tions of 
certain 
instru- 
mentali- 
ties of 

the 
United 
States 5 


5 under 6 


11, 782 

9,236 

8,002 

7,535 

6,912 

6. 045 

6,300 

5, 540 

4,740 

4,306 

24, 508 

15, 930 

15, 352 

23, 921 

18, 926 

15, 676 

14, 587 

10, 904 

7,698 

7,924 

21, 206 

11,241 

6,392 

5,073 

7,416 

4, ,582 

8,167 

3,103 

3.854 

597 

917 

1 

322 

2,717 


8,372 
6,371 
5,192 
5, 176 
4,594 
4,329 
4,566 
4, 036 
3.405 
3,017 

18, 501 
12, 271 

12, 203 

19, 594 
16, 444 
14. 056 

13, 279 
9,813 
7,108 
7,462 

19. 699 

10. 506 

6.196 

4.787 

7,208 

4. .345 

8,056 

3, 075 

3,840 

594 

916 

1 

322 

2,717 


5,127 

4,762 

3,983 

4,041 

3,553 

3,170 

3, 639 

2, 922 

2.693 

2,468 

14, 609 

10, 174 

9,584 

16, 444 

13, 563 

11.716 

11,588 

8.184 

5. 662 

6.477 

16,182 

8,729 

5, 193 

3, 594 

6,001 

3,429 

6,703 

2, 548 

3,591 

102 

482 

1 

262 

1. 206 


644 
397 
402 
299 
349 
340 
261 
332 
241 
205 

1,501 
780 
956 

1,285 

1.093 
767 
702 
519 
612 
378 

1,130 

463 

391 

316 

288 

147 

208 

125 

23 

13 

1 


2,601 

1.213 

808 

836 

692 

819 

666 

783 

471 

343 

2.392 

1,317 

1,663 

1,865 

1,787 

1,573 

989 

1,111 

833 

608 

2,387 

1,314 

612 

877 

919 

769 

1.144 

403 

227 

479 

433 


3,410 

2, 865 

2,810 

2,360 

2,318 

1,716 

1,734 

1,505 

1,335 

1,290 

6,007 

3,659 

3,149 

4,327 

2,482 

1.620 

1,308 

1,091 

590 

462 

1,507 

735 

196 

287 

208 

237 

111 

28 

14 

3 

1 


2,950 
2,484 
2,442 
2,046 
2,017 
1,473 
1,529 
1,311 


460 


6 under 7. . . - .. 


382 


7 under 8 . 


367 


8 under 9 . . . 


314 


9 under 10 -. 


301 


10 under 11 


243 


11 undor 12 . . 


205 


12 under 13. . . . . 


193 


13 under 14 


1, 198 137 


14 under 15 


1, 142 148 


15 under 20 ... 


5, 400 608 


20 under 25 


3, 250 409 


25 under 30 


2, 789 360 


30 under 40 . . 


3, 943 385 


40 under 50 ..... . 


2,290 1 193 


50 under 60 .. 


1.471 i 150 


60 under 70 


1, 199 1 109 


70 under 80 . . 


982 

,543 

425 

1, 434 

699 

171 

287 

188 

224 

101 

23 

14 

3 

1 


109 


80 under 90 ...... 


48 


90 under 100 


37 


100 under 150 

150 under 200 

200 under 250 

250 under 300 

300 under 400 

400 under .500 

500 under 750 

750 under 1.000 

1,000 under 1,500 

1,500 under 2,000 

2.000 under 3.000 .... 
3,000 under 4.000 


73 
36 
25 

(«) 

20 

13 

10 

5 

(8) 

(«) 

1 


4,000 under 5,000 


38 


22 
1,510 


(») 


(«) 




5,000 and over 










i 


Total 


301,415 


252. 052 


202, 379 


15, 206 


34, 467 


49, 364 


44, 024 


5,340 









' Includes the following returns with net income taxable to the fiduciary of $5,000 and over: taxable returns,. 
Form 1041, which correspond to taxable returns. Form 1040, for estates and trusts filed for prior years, and 
taxable returns for estates and trusts filed on Form 1040 which should have been filed on Form 1041. 

2 Includes other obligations of the United States issued on or before September 1. 1917. 

i Includes obligations of instrumentalities of the United States other than obligations issued under Federal 
Farm Loan Act, or such Act as amended. 

* Includes interest received on a principal amount not in excess of $5,000 which is wholly exempt from in- 
come taxes. (See line (e), colunm 3, schedule B, Form 1040, p. 206.) The amount of such interest received 
on a principal amount in excess of exemjjtion of $5,000, which is reported on the face of the return for tax com- 
putation, is tabulated in "taxable interest received on partially tax-exempt Government obligation.s" in the- 
text table on pp. 13-15 and in basic t.ilile 7 on pp. 133-137. 

5 Includes interest received on obligations of instrumentalities of the United States other than obligations 
issued under the Federal Farm Loan Act. or such Act as amended. (See line (f), column 3. schedule B, 
Form 1040. p. 207.1 The amount of such interest received, which is reporte<l on the face of the return for 
tax computation, is tabulated in "taxable interest received on partially tax-exempt Government obliga- 
tions" in the text table on pp. 13-15 and in basic table 7 on pn. 133-137. 

• Under $500. 



STATISTICS OF INCOME 



183 



Table 15. — Fiduciary returns,^ 1937, with balance income ^ of $5,000 and over and 
with wholly and partially tax-exempt Government obligations, by balance income ^ 
classes and by each type of obligation: amount owned and interest received 

[Balance income classes and money figures in 'thousands of dollars] 

[For text defining items and describing methods of tabulating data, see pp. 32-34] 
PART I. TAXABLE FIDUCIARY RETURNS 









Amount owned at end of year 








Total 


Wholly tax-exempt obligations 


Partially tax-exempt 
obligations 


Balance income 2 
classes 


Total 


Obligations 
of States 

and Terri- 
tories or 
political 
subdi- 
visions 

thereof and 
United 

States pos- 
sessions 


Obliga- 
tions 

issued 
under 

Federal 

Farm 

Loan 

Act 


Treasury 

notes, 
Treasury 
bills, and 
Treasury 
certificates 
of indebt- 
edness = 


Total 


United 

States 
savings 

bonds 

and 

Treasury 

bonds 


Obliga- 
tions of 
certain 
instru- 
mentali- 
ties of the 
United 
States » 


5 under 10 


108, 699 

159, 124 

45, 781 

202, 929 

178. 963 

142, 353 

76, 794 

48, 958 

11, 594 


76, 493 
128, 124 
34, 557 
164, 642 
158, 977 
134, 417 
73, 586 
48. 921 
11, 594 


57, 749 
95,024 
27. 092 
120,813 
110,811 
91, 454 
43, 952 
33, 536 
10, 428 


5,098 

7,534 

2,800 

11, 286 

11, 582 

11, 157 

9,239 

5,691 

666 


13,646 
25, 566 

4,665 
32, 543 
36, 584 
31, 805 
20, 395 

9,694 
500 


32, 206 

31,000 

11, 224 

38, 287 

19,986 

7,936 

3,208 

37 


27, 148 

26, 322 

9,491 

31, 753 

16,968 

6,869 

2,505 

37 


5,057 


10 under 20 .-.--. 


4,678 


20 under 25 


1,733 


25 under 50 


6,534 


sounder 100 .. 


3,017 


100 under 250_. 

250 under 500- - 

500 under 1,000 

1,000 and over 


1,067 
703 










Total - 


975, 194 
78, 838 


831, 311 
62, 841 


590, 859 
46, 734 


65, 055 
2,248 


175, 397 
13, 860 


143, 883 
15, 997 


121, 094 
15, 049 


22, 790 


Taxable net incomes 
of $5,000 and over 
for estates and 
trusts filed on 
Form 1040* 


948 


Grand total. -- 


1,054,032 


894, 152 


637, 593 


67, 303 


189, 257 


159, 880 


136, 143 


23, 738 





Interest received or accrued during the year 




Total 


Wholly tax-exempt obligations 


Partially tax-exempt 
obligations 


Balance income 2 
classes 


Total 


Obligations 
of States 

and Terri- 
tories or 
political 
subdi- 
visions 

thereofand 
United 
States 

possessions 


Obliga- 
tions 
issued 
under 

Federal 

Farm 

Loan 

Act 


Treasury 

notes. 
Treasury 
bills, and 
Treasury 
certificates 
of indebt- 
edness 5 


Total 


United 

States 
savings 
bonds 
and 
Treasury 
bonds ' 


Obliga- 
tions of 
certain 
instru- 
mentali- 
ties of the 
United 
States s 


5 under 10 


4,706 
7,149 
2,347 
10, 517 
9,041 
8,173 
3,746 
3, 105 
485 


3,543 
6,035 
1,896 
9,020 
8,164 
7,446 
3,652 
2,989 
485 


3,026 
5,159 
1,596 

7,378 
6,838 
6,081 
2,782 
2,130 
445 


210 
337 
130 
641 
435 
444 
309 
216 
24 


306 
539 
170 
1.001 
891 
921 
561 
644 
16 


1,163 
1,114 

451 
1,497 

877 

727 
95 

116 


939 
937 
377 
1,248 
764 
658 
83 
116 


224 


10 under 20 - 


177 


20 under 25 


74 


25 under 50 - 


249 


50 under 100- 


113 


100 under 250 

250 under 500 

500 under 1,000 - 

1,000 and over 


69 
12 










Total 

Taxable net incomes 
of $5,000 and over 
for estates and 
trusts filed on 
Form 1040 « 


49, 268 
4,128 


43, 230 
3,337 


35, 437 
2,873 


2,745 
115 


5,048 
349 


6,040 
791 


5, 121 
752 


918 
39 


Grand totaL--l 53,396 


46. 567 


38, 310 


2,860 


5.397 


6.831 


5.873 


957 



For footnotes, see p. 148. 



184 



STATISTICS OF INCOME 



Table 15. — Fiduciary returns,^ 1937, with balance income- of $5,000 and over and 
with wholly and -partially tax-exempt Governtnent obligations, by balance income'^ 
classes and by each type of obligation: amount owned and interest received — Con. 

[Balance income classed and money figures in thousands of dollars] 

PART II. NONTAXABLE FIDUCIARY RETURNS WITH NET INCOME 3 





Amount owned at end of year 




Total 


Wholly tax-exempt obligations 


Partially tax-exempt 
obligations 


Balance income ^ 
classes 


Total 


Obligations 
of States 
and Ter- 
ritories or 
political 
subdivi- 
sions there- 
of and 
United 
States 
possessions 


Obligations 
issued 

under Fed- 
eral Farm 
Loan Act 


Treasury 

notes. 
Treasury 
bills, and 
Treasury 
certificates 
of indebt- 
edness 5 


Total 


United 

States 
savings 

bonds 

and 

Treasury 

bonds 


Obliga- 
tions of 
certain 
instru- 
mentali- 
ties of the 
United 
States « 




60, 834 
48, 796 
12, 193 
31,796 
18, 928 
15,955 
1,287 
25, 330 


39, 631 
32, 699 

9, 376 
25, 383 
17, 078 
15, 564 

1,287 
25, 305 


30, 805 
25, 222 
7,458 
20, 370 
14.441 
12, 261 
777 
22, 738 


2,796 
2, 504 

928 
1,533 
1,275 

527 
25 

475 


6,030 
4,973 

990 
3,480 
1,362 
2,777 

485 
2,092 


21, 203 
16, 097 
2,817 
6,412 
1,851 
391 


18, 053 
13, 860 
2,538 
5,749 
1,406 
293 


3, 150 


10 under 20 

20 under 25 

25 under 50 -. - -.. 


2, 237 
279 
663 


50 under 100 


444 


100 under 250 

250 under 500 


98 


500 under 1,000 


25 


25 




1 000 and over 






















Total - 


215, 119 


166. 323 


134, 071 


10, 062 


22, 191 


48, 796 


41,924 


6,872 





Interest received or accrued during the year 




Total 


Wholly tax-exempt obligations 


Partially tax-exempt 
obligations 


Balance income ■ 
classes 


Total 


Obligations 

of States 
and Ter- 
ritories or 
political 
subdivi- 
sions there- 
of and 
United 
States 
possessions 


Obligations 
issued 

under Fed- 
eral Farm 
Loan Act 


Treasury 

notes, 
Treasury 
bills, and 
Treasury 
certificates 
of indebt- 
edness 5 


Total 


United 
States 
savings 
bonds 
and 
Treasury 
bonds ' 


Obliga- 
tions of 
certain 
instru- 
mentali- 
tiosofthe 
United 
States ' 


5 under 10 


3,586 

3,059 

704 

2,003 

1,271 

1.392 

338 

890 


2,642 

2,352 

569 

1,682 

1,189 

1.300 

250 

890 


2,209 
2.010 

473 
1,512 

968 
1,138 

228 

829 


188 
147 

48 

71 
157 

31 
1 

15 


245 
195 

48 
100 

64 
131 

21 

46 


944 
707 
1.36 
321 

82 
92 

88 


802 
586- 
119 
288 
64 
13 
88 
(») 


14! 


10 under 20 


121 


20 under 25 ._- 


16 


25 under 50 


33 


50 under 100 


18 


103 under 250 

250 under 500 


79 


500 under 1,000 

1,000 and over 


(») 




















Total 


13. 244 


10,875 


9.368 


658 


847 


2.369 


1.960 


407 



' Includes taxable returns with net income taxable to the fiduciary of $5,000 and over for estates and trusts 
filed on Form 1040 which were filed in place of the proper 1937 Form 1041 for estates and trusts. 

2 Balance income (item 15, face of return. Form 1041, p. 214> is the net income before distribution to bene- 
ficiaries which equals total income less total deductions (items 10 and 14, respectively, face of return. Form 
1041, p. 214^.. 

' On nontaxalile returns the specific exemptions exceed net income taxable to fiduciary (item 17, face of 
return. Form 1041. p. 214>. 

« Taxable net incomes after distribution to beneficiaries of $5,000 and over for estates and trusts which 
were reported bv the fi/luciary on Form 1010 instead of on the proper 1937 return Form 1041. 

5 Includes other obliffations of rnited States issued on or before Sept. 1, 1917. 

6 Includes oblieations of instrumentalities of the United States other than obligations issued under Federal 
Farm Loan Act or such Act as amended. 

" Includes interest received on t principal amount not in excess of $5,000 which is wholly exempt from tax. 
5 Includes interest received on obligations of instrumentaUti^s of the United States other than obligations 
issued under Federal Farm Loan Act or such Act as amended. 
« Less than .$500. 



REVENUE ACTS OF 1913-1937 

AND CERTAIN TAX PROVISIONS OF 
THE NATIONAL INDUSTRIAL RECOVERY ACT (1933) 



A SYNOPSIS OF FEDERAL 

INDIVIDUAL INCOME AND PROFITS TAX RATES 

FIDUCIARY INCOME TAX RATES 

ESTATE AND GIFT TAX RATES 

CREDITS AND EXEMPTIONS 

AFFECTING THE COMPARABILITY OF DATA 

IN "STATISTICS OF INCOME" 



185 



A SYNOPSIS OF FEDERAL INDIVIDUAL INCOME AND PROFITS 
TAX RATES, FIDUCIARY INCOME TAX RATES, ESTATE AND 
GIFT TAX RATES, CREDITS AND EXEMPTIONS AFFECTING 
THE COMPARABILITY OF DATA IN ''STATISTICS OF INCOME" 



INDIVIDUALS AND FIDUCIARIES 

A. Individuals and fiduciaries required to file Federal income tax 
returns, personal exemption, credit for dependents, and normal tax 
rates, under the Revenue Acts of 1913 through 1937, and certain tax 
provisions of the National Industrial Recovery Act (1933). 

B. Federal individual and fiduciary surtax rates and total surtax 
under the Revenue Acts of 1913 through 1937. 

C. Federal individual and fiduciary supplemental income and profits 
tax rates and credits, under the Revenue Acts of 1917 through 1937. 

ESTATES 

ji 

D. Federal estate tax rates, total estate tax, specific exemption, and 
credits against estate tax, under the Revenue Acts of 1916 through 
1935. 

GIFTS 

E. Federal gift tax rates, total gift tax, specific exemption, exclu- 
sion and deductions under the Revenue Acts of 1924, 1932, and 1932 
as amended bv 1934 and 1935. 

187 ''>' 



186585 — 40 13 



188 



STATISTICS OF INCOME 



A. — Individuals and fiduciaries required to file Federal income tax returns, personal 

through 1937, and certain tax provisions of 





Applicable to citizens and residents of the United States 




Income year 


Individuals required to file returns ' 


Revenue Act 


Married and living with 
husband or wife ^ 


Single, or married 
and not living with 
husband or wife 




Net in- 
come* 


Gross in- 
come re- 
gardless 
cf amount 
of net in- 
come 


Net in- 
come « 


Gross in- 
come re- 
gardless 
of amount 
of net 
income 


1913 (Oct 3, 1913) - .. 


Mar. 1, 1913, through 

Dec. 31, 1915. 
1916 


$3, COO 

3,000 
2,000 

2,000 

2,000 

i 2, 000 

2,500 
I 3,500 
\ 

3,500 
2,500 




$3, 000 

3,000 
1,000 

1,000 

1,000 

1,000 

1,000 
1,500 

1,500 
1,000 




1916 (Sept. 8, 1916) -. 








|l917 










1918 








1918 (Feb. 24, 1919) 


1919,1920... 










fl921 


$5, 000 

5,000 
5,000 

5,000 
5,000 


$5,000 

5,000 
5,000 

5,000 
5,000 




1922 






192313 


1924 (June 2, 1924) 


1924 




1925 


1926 (Feb. 26, 1926) 


■ 1926 




1927 




1928 




19291* 


1928 (May 29, 1928) 


1930 .... 






1931 


1932 (June 6, 1932). 


1932,1933 


National Industrial Recovery 


1933 


Act (June 16, 1933). '• 
1934 (May 10, 1934) 


1934,1935 


J 2,500 


5,000 


1,000 

(IS) 


5,000 
(") 


1936 (June 22, 1936) 


1936,1937 


1937 (Aug. 26, 1937)" 


1937 









For footnotes, see pp. 190-191. 



STATISTICS OF INCOME 



189 



exemption, credit for dependents, and normal tax rates, under the Revenue Acts of 1913 
the National Industrial Recovery Act {1933) 



Applicable to citizens and residents of the United States— Con. 


Applicable to nonresident aliens i 


Personal exemption and credit 
for dependents < 


Net income subject 
to normal tax * 


Normal 
tax rate 
(percent) 


Personal exemption 


Credit 
for each 
depend- 
ent? 




Married 
and living 
with hus- 
band or 
wife, or 
head of 
family • 


Single, or 
married 
and not 
living 
with hus- 
band or 
wife, and 
not head 
of family • 


Normal 
tax 


Married 
and living 
with hus- 
band or 
wife, or 
head of 
family « 


Single, or 
married and 

not living 

with husband 

or wife, and 

not head of 

family 6 


Credit 
for each 
depend- 
ent ' 


rate' 
(per- 
cent), 


•$4,000 

4,000 
2,000 

2,000 

2,000 

m 2, 600 

2,600 
3,500 

3,600 
2,600 


«$3,000 

3,000 
1,000 

1,000 

1,000 

1,000 

1,000 
1,600 

1,600 
1,000 


$200 
200 
200 
400 

400 
400 

400 
400 


AIL. 


1 

2 
2 
4 
6 
12 
4 
8 
4 
8 

2 
4 
6 

3 
6 

3 

5 

14 2 

IH 

3 

5 

3 
5 
4 

8 








1 


All 


$4,000 
} 


$3,000 




2 
2 


/First $2,000 

\Balance over $2,000.. 
fFirst $4,000 .. 


} (•) 
} (») 
} 1,000 

1,000 

1,500 

1,500 

1,600 

1,600 

• 1,600 
1,000 


(«) 
(•) 
1,000 

1,000 

1,600 

1,500 

1,500 

1,500 

1,500 
1,000 


(«) 
(•) 
(") 

(") 
(") 
(") 
C) 
(") 

(") 

('■) 




\Balance over $4,000.- 
/First $4,000-.- 


12 


(Balance over $4,000.. 
fFirst $4,000---- 


8 


iBalance over $4,000-- 
First $4,000--.- 


"8 


Second $4,000 

Balance over $8,000- 
First $4,000 


"6 


• Second $4,000 

Balance over $8,000.. 

(First $4,000 

•^Second $4,000 

Balance over $8,000- 
First $4,000 


"5 
"6 


< Second $4,000 

Balance over $8,000- 

(First $4,000 

<Second $4,000 

Balance over $8,000- 
First $4,000 


11 14 4 

"6 


{Second $4,000 

Balance over $8,000. 
fFirst $4,000 - 


i«6 


IBalance over $4,000. . 


"8 


2,600 


1,000 

(18) 


400 


All-... 


4 


f 1,000 

I "« 1,000 

'•1,000 


1,000 
'•1,000 
'• 1, 000 


(") 


U4 




"10 
'•10 











For footnotes, see pp. 190-191, 



190 



STATISTICS OF INCOME 



I Footnotos for table A] 



References to notes mean the notes of this synopsis. 

• In general, required to file income tax returns for 
all taxable income from sources within the United 
States regardless of amount, unless total tax has been 
paid at source. For exceptions, see Income Tax 
Begulations for 1937. 

2 (a) Under the Revenue Acts of 1913, 1916 and 
1917, individuals were required to file returns on a 
calendar year basis, while under the Revenue Act 
of 1918 and subsequent acts, returns are perraitted 
for a fiscal year other than that ending December 31 . 

(6) For the years 1913 through 1915, a citizen or 
resident of the United States whose not income was 
less than $20,000 and for whom a full return was made 
by withholding agent, was not required to file a 
return. 

(c) For 1921 and subsequent years citizens deriving 
a large portion of their gross income from sources 
within a possession of the United States are required 
to file returns for all income derived from sources 
within the United States, or income from sources 
within or without the United States received within 
the United States, regardless of amount. (See sec. 
262 of the Revenue Acts of 1921, 1924, and 1926, and 
sec. 251 of the Revenue Act of 1928 and subsequent 
acts.) 

(d) For 1925 and subsequent years .\merican 
citizens who are nonresidents of the United States 
for more than six months of the year are not required 
to report earned income from sources without the 
United States, and are not required to file returns 
unless their gross income, exclusive of earned income 
from sources without the United States equals or 
exceeds $5,000; or unless their net income, exclusive 
of earned income, from sources without the United 
States equals or exceeds the amount indicated in 
this table under "Individuals required to file re- 
turns." (See also (c) above.) For 1932 and subse- 
quent years the exclusion from gross income of earned 
income from sources without the United States does 
not apply to amounts paid by the United States or 
any agency thereof. (See sec. llti(a). Revenue Act 
of 1932 and subsequent acts.) The compensation of 
resident alien employees of foreign governments is 
excluded from gross income under certain conditions. 
(See sec. 116(h), Revenue Act of 1936, which subsec- 
tion (h) was added to sec. 116, Revenue Act of 1934 
by Public, No. 374, Seventy-fourth Congress, and 
which is retroactive, subject to the statutory period 
of limitation.) 

(e) For 1936 and prior years, income from estates 
and trusts taxable to the fiduciary is required to be 
reported on the individual income tax return. Form 
1040; income from estates and trusts not taxable to 
the fiduciary is required to be reported on the fiduci- 
ary return of income, Form 1041. Beginning with 
the income year 1937, all income from estates and 
trusts is required to be reported on the fiduciary 
income tax return. Form 1041. See text, pp. 1-2. 

3 Husband and wife each to file a return unless 
combined income is included in joint return. 

* Not applicable to citizens deriving a large portion 
of their gross income from sources within a possession 
of the United States, 1921 and subsequent years. 
Such citizens are entitled to the personal exemption 
shown in this table for nonresident aliens, 1921, and 
subsequent years. 

« Net income means "statutory" net mcome, i. e., 
the excess of gross income over deductions as defined 
in the various revenue acts. Net income has been 
adjusted from time to time as follows: 

(ri) Amortization of buildings, machinery, equip- 
ment, or other facilities constructed or acquired on 
or after April 6, 1917, for the production of articles 
contributing to the prosecution of the war is included 
to a reasonable amount in business deductions, 1918 
through 1921. 

(6) Contributions to charitable and scientific 
organizations, etc,, not exceeding 15 percent of the 
net income before deducting the contributions, are 
deductible for 1917 and subsequent years. (For 
unlimited deductions of contributions see sec. 
214(10), Revenue Acts of 1924 and 1926, and sec. 120, 
Revenue Act of 1928 and subsequent acts.) 



(c) Losses sustained in transactions entered into 
for profit but not connected with business or trade 
are not deductible, 1913 through 1915. For 1916 and 
1917 such losses are deductible to the extent of the 
aggregate income from such transactions; for 1918 
through 1931, such losses are wholly deductible, ex- 
cepting that for the years 1924 through 1933, the loss, 
if incurred through the sale of capital assets held for 
more than two years, is deductible from total tax 
to the extent of 12K' percent of the loss. (See table C, 
pp. 194-195.) For the years 1932 and 1933 losses from 
sales or exchanges of stocks or bonds (other than capi- 
tal assets held for more than two years, and other 
than bonds issued by a government or political sub- 
division thereof) are allowed only to the extent of the 
gains from such sales or exchanges. The Revenue 
Act of 1932 provides that any excess loss thus dis- 
allowed, computed without regard to any losses 
sustained during the preceding taxable year is, to an 
amount not in excess of the taxpayer's net income for 
the taxable year, considered as loss sustained in the 
succeeding taxable year from sales or exchanges of 
stocks or bonds other than capital assets. (See sec. 
23(r)(2), Revenue Act of 1932.1 However, section 
218(b"( of the National Industrial Recovery Act 
repeals, effective as of January 1, 1933, section 23 
(r)(2) of the Revenue Act of 1932, thereby limiting 
the application of losses from the sale or exchange of 
stocks or bonds (other than capital assets) to gains 
from similar transactions during the same taxable 
year and prohibiting the carrying forward and appli- 
cation of such losses to gains from similar transac- 
tions in the succeeding taxable year. Under the 
Revenue Act of 1932, the limitation on the deduction 
of losses from sale or exchange of stocks or bonds does 
not apply to persons dealing in securities or carrying 
on the bankinc business. (See sec. 23(r) (3), Revenue 
Act of 1932.) However, section 218(c) of the National 
Industrial Recovery Act amends, effective as of Jan- 
uary 1, 1933, section 23(r)(3) of the Revenue Act of 
1932, by removing the exemption from the stock-loss 
limitation allowed to persons carrying on the banking 
business, thereby limiting the application of losses 
from the sale or exchange of stocks or bonds (other 
than capital assets) to gains from similar transactions 
and prohibiting the use of such losses to reduce 
income from other sources. Section 218(d) of the 
National Industrial Recovery Act also amends] 
effective as of January 1, 1933, section 182(a) of the 
Revenue Act of 1932 by removing the privilege oi 
individual members of a partnership to reduce thei^ 
individual net income by their proportionate shares 
of a net loss incurred by the partnership through 
the sale or exchange of stocks or bonds (other than 
capital assets). Such a provision has been omitted 
from the Revenue Act of 1934. By the Revenuq 
Act of 1934 the definition of capital assets is broadened 
to include all property held by taxpayer, whether 
or not connected with trade or business, regardless 
of period held, except stock in trade, property which 
would be included in inventory or property held for 
sale in ordinary course of business or trade. For 
1934 and subsefiuent years capital losses are com- 
puted on the basis of certain percentages which vary 
according to the period for which assets have been 
held. For 1931 through 1937 deduction of capital 
losses (after the percentages are applied, and after 
subtracting the amount of net capital gain1, is 
limited to $2,000 or the amount of net capital loss, 
whichever is less. (For method of comptiting capital 
gains and losses, see table C , pp. 194-195.) The Reve- 
nue Act of 1934 and subsequent acts allow losses 
from wagering transactions only to the extent of the 
gains from such transactions, and deny deductions 
for losses from sales or exchanges of property, directly 
or indirectly between members of a family and (ex- 
cept in case of distributions in liquidation) between 
an individual and a corporation in which such 
individual owns, directly or indirectly, more than 
50 percent in value of the outstanding stock. (See 
sec. 24(a)(6), Revenue Acts of 1934 and 1936.) The 
Revenue Act of 1937 also disallows losses from sales 
or exchanges of property between (1) a grantor and 
a fiduciary of any trust, (2) a fiduciary of a trust and 



STATISTICS OF INCOME 



191 



a fiduciary of another trust, if the same person is a 
grantor with respect to each trust, and (3) a fiduciary 
of a trust and a beneficiary of such trust. 

(d) Net loss for prior year resulting from the opera- 
tion of any trade or business regularly carried on by 
the taxpayer: In the case of a net loss for any taxable 
vear beginning after October 31, 1918, and ending 
prior to January 1, 1920, the Revenue Act of 1918 
provides for the deduction of such loss frorn net 
income of the preceding year, a redetermination of 
taxes for the preceding year being made. When the 
net loss exceeds the net income for the preceding 
year, the amount of such excess is to be deducted 
from the net income of the succeeding taxable year. 
The Revenue Acts of 1921 through 1928 provide that 
net loss in any year beginning after December 31, 
1920, may be deducted from the net income of the 
succeeding taxable year, and if such net loss exceeds 
the net income for the succeeding year, the amount 
of such excess is to be allowed in the next succeeding 
year. The Revenue Act of 1932 provides that a net 
loss for the year 1930 or 1931 shall be allowed as a 
deduction in computing net income for the next 
succeeding taxable year only. (See sec. 23(i) and 
sec. 117, Revenue Act of 1932.) However, section 
218(a) of the National Industrial Recovery .\ct 
repeals, effective as of January 1, 1933, sections 23(i) 
and 117 of the Revenue Act of 1932, thereby removing 
the privilege of deducting from the net income for 
the current taxable year a net loss for the preceding 
taxable year. There is no provision in the Revenue 
Act of 1934 or subsequent acts for deduction of net 
loss for prior year. 

» No provision for head of family in Revenue Act 
of 1913. Exemption prorated for period March 1 
through December 31, 1913. 

' For each dependent under 18 years of age or in- 
capable of self-support because mentally or physi- 
cally defective. 

8 Net income subject to normal tax is all net in- 
come after deducting the sum of: 

(a) Personal exemption. 

(6) Credit for dependents, 1917 and subsequent 
years. 

(c) Dividends on stock of domestic corporations, 
1913 through 1935 (other than (1) corporations de- 
riving a large portion of their gross income from 
sources within a possession of the United States, 
1921 through 193.'!, and (2) China Trade Act cor- 
porations, 1922 through 1935, and (3) corporations 
exempt from tax, 1932 through 1935), and dividends 
on stock of foreign corporations receiving a certain 
amount of income from sources within the United 
States, 1913 through 1933. (For 1936 and subsequent 
years, dividends are not deductible.) 

(d) Income, the tax upon which has been paid or 
withheld for pavment at the source for the years 
1913 through 1917. 

(f) Interest not wholly tax exempt on United 
States obligations issued after September 1. 1917, 
which is required to be included in gross income, and 
for 1934 and subsequent years interest on obligations 
of instrumentalities of the United States, as defined 
in section 25(a)(3), Revenue Act of 1934 and section 
25(a)(2). Revenue Act of 193fi. 

(/) Credit of 10 percent of the amount of the earned 
net income, but not in excess of 10 percent of the 
entire net income for 1934 and subsequent years. 
(See table C, p. 195.) (See note 12.) 

9 Nonresident aliens are allowed the personal 
exemption ($1,000 if single, $2,000 if married) and the 
credit for each dependent ($200) only when the 
country of which nonresident alien is a citizen either 
imposes no income tax or allows similar credit to 
citizens of the United States not residing within 
such foreign country. 

10 For net incomes in excess of $5,000, personal 
exemption is $2,000. 



'1 F'lr the years 1922 through 1935 if nonresident 
alien is resident of contiguous country (Canada or 
Mexico), $400 credit allowed for each dependent. 
For limitations applicable to 1936 and subsequent 
yeats see note 16. 

12 For the years 1922 through 1933, alien residents 
of contiguous countries (Canada or Mexico) on net 
income attributable to compensation for labor or 
personal services actually performed in the United 
States, receive benefit of normal tax rate provided 
for United States citizens. For 1934 and 1935 the 
rate of normal tax is the same for all individuals, both 
resident and nonresident. (See note 16(6).) 

13 Tax for 1923 reduced 25 percent by credit or 
refund under section 1200 (a) of the Revenue Act 
of 1924. 

14 See Joint Resolution of Congress, No. 133, 
approved by the President December 16, 1929, 
reducing rates of income tax for 1929. 

15 See note 5 (c) and (d). 

16 (a) For 1936 and subsequent years, nonresident 
alien individuals not engaged in trade or buslress 
within the United States and not having an oflBce or 
place of business therein at any time within the 
taxable year are not allowed any deductions or credits 
but are taxed upon the gross amount of fixed or 
determinable annual or periodical income from 
sourcas within the United States (Capital net gains 
not included) at the rate of 10 percent, except (1) 
that such rate shall be reduced in the case of a resi- 
dent of a contiguous country, to such rate (not less 
than 5 percent) as may be provided by treaty with 
such country. (By treaty with Canada, August 13, 
1937, the rate was reduced to 5 percent retroactive to 
January 1, 1936) and (2) for the year 1937 and subse- 
quent years such nonresident aliens other than those 
affected by the treaty with Canada if they report 
gross income of more than $21,600 are liable to the 
normal tax, and surtax imposed by sections 11 and 12 
of the Revenue Act of 1936 on such income after 
allowance of deductions and credits allocable thereto; 
but the total tax thus computed shall not be less 
than 10 percent of the gross income. 

(6) For 1936 and subsequent years, nonresident 
alien individuals who at any time within the taxable 
year are engaged in trade or business within the 
United States or have an ofl^ce or place of business 
therein are allowed the deductions and credits pro- 
vided by sections 213 and 214, Revenue Act of 1936, 
and are subject to the normal tax of 4 percent and the 
graduated surtax upon their net income from all 
sources within the United States. 

17 The Revenue Act of 1937 is not a complete 
taxing statute in it.self, but merely amends and adds 
to the provisions of the 1936 Act. See notes 1, 
5 (e), and 16. 

18 A fiduciary is required to file a return. Form 
1041, for (1) every estate or trust (a) with net income 
of $1,000 and over, (b) with gross income of $5,000 
and over or (c) if any beneficiary is a nonresident 
alien: (2) every trust not entitled to personal exemp- 
tion under .section 163 (a) of the Revenue Act of 1936 
as amended by section 401 of the Revenue Act of 
1937 if it has anii net income for the taxable year, 
and (3) every trust the distribution of any portion 
of the income of which is in the discretion of the 
trustee or conditioned upon a contingency, if the 
trust has no net income, but would have a net 
income of $1,000 or over except for a deduction for 
distribution to beneficiaries. 

19 An estate or trust is allowed an exemption 
of $1,000. except that no exemption is allowed if 
the trust instrument requires or permits the accumu- 
lation of any portion of the income of the trust 
and there is" not distributed an amount equal to 
net income. 



192 



STATISTICS OF INCOME 
B. — Federal individual and fiduciary surtax rates and 



Net income » 


Revenue Act 








1913 




1916 




1917 




1918 




1921 


Exceed- 


Equal- 


On incomes from 


On incomes for 


On incomes for 


On incomes for 


On incomes for 


ing 


ing 


Mar. 1, 1913, 




1916 




1917 


1918, 1919, 1920, 


1922. 1923 2 






through 










and Act of 1921 










Dec. 31, 1915 










on 


incomes for 
























1921 








Rate 




Rate 




Rate 




Rate 




Rate 




Thousands of 


{per- 


Total 


{per- 


Total 


{per- 


Total 


{per- 


Total 


{per- 


Total 


dol 
4 


laTS 

5 

6 

7.5 

8 
10 
12 
12.5 
13 
14 
15 
16 
18 
20 
22 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


5 










..... 

1 
2 
2 
3 
3 
4 
4 
4 
5 
5 
5 
8 


" $16" 

25 
35 
75 
135 
150 
170 
210 
250 
300 
400 
500 
660 


..... 

2 
2 
3 
4 
5 
6 
5 
6 
6 
7 
8 
9 


$io' 

40 
50 
110 
190 
215 
240 
290 
350 
410 
550 
710 
890 






6 










...... 

1 
1 
2 
3 
3 
3 
4 
4 
5 
6 
8 


" $15" 

20 

40 

80 

95 

110 

140 

180 

220 

320 

440 

600 


7.5 










8 










10 










12 










12.5 










13 










14 










15 










16 










18 










20 


""l 


$20' 




$20' 


22 


24 


1 


40 




40 


8 


820 


10 


1,090 


9 


780 


24 


26 


1 


60 




60 


8 


980 


11 


1,310 


10 


980 


26 


28 


1 


80 




80 


8 


1,140 


12 


1,550 


11 


1,200 


28 


30 


1 


100 




100 


8 


1,300 


13 


1,810 


12 


1,440 


30 


32 


1 


120 




120 


8 


1,460 


14 


2,090 


13 


1,700 


32 


34 


1 


140 




140 


8 


1,620 


15 


2,390 


15 


2,000 


34 


36 


1 


160 




160 


8 


1,780 


16 


2,710 


15 


2,300 


36 


38 


1 


180 




180 


8 


1,940 


17 


3,050 


16 


2,620 


38 


40 


1 


200 




200 


8 


2,100 


18 


3,410 


17 


2,960 


40 


42 


1 


220 


2 


240 


12 


2,340 


19 


3,790 


18 


3,320 


42 


44 


1 


240 


2 


280 


12 


2,580 


20 


4,190 


19 


3,700 


44 


46 


1 


260 


2 


320 


12 


2,820 


21 


4,610 


20 


4,100 


46 


48 


1 


280 


2 


360 


12 


3,060 


22 


5,050 


21 


4,520 


48 


50 


1 


300 


2 


400 


12 


3,300 


23 


5,510 


22 


4,960 


50 


52 


2 


340 


2 


440 


12 


3,540 


24 


5,990 


23 


5,420 


52 


54 


2 


380 


2 


480 


12 


3,780 


25 


6,490 


24 


5,900 


54 


56 


2 


420 


2 


520 


12 


4,020 


26 


7,010 


25 


6,400 


56 


58 


2 


460 


2 


560 


12 


4,260 


27 


7,550 


26 


6,920 


58 


60 


2 


500 


2 


600 


12 


4,500 


28 


8,110 


27 


7,460 


60 


62 


2 


540 


3 


660 


17 


4,840 


29 


8,690 


28 


8,020 


62 


. 64 


2 


580 


3 


720 


17 


5,180 


30 


9,290 


29 


8,600 


64 


66 


2 


620 


3 


780 


17 


5,520 


31 


9,910 


30 


9,200 


66 


68 


2 


660 


3 


840 


17 


5,860 


32 


10, 550 


31 


9,820 


68 


70 


2 


700 


3 


900 


17 


6,200 


33 


11,210 


32 


10, 460 


70 


72 


2 


740 


3 


960 


17 


6,540 


34 


11, 890 


33 


11,120 


72 


74 


2 


780 


3 


1,020 


17 


6,880 


35 


12, 590 


34 


11,800 


74 


75 


2 


800 


3 


1,050 


17 


7,050 


36 


12, 950 


35 


12, 150 


75 


76 


3 


830 


3 


1,080 


17 


7,220 


36 


13, 310 


35 


12,500 


76 


78 


3 


890 


3 


1,140 


17 


7,560 


37 


14, 050 


36 


13, 220 


78 


80 


3 


950 


3 


1,200 


17 


7,900 


38 


14,810 


37 


13, 960 


80 


82 


3 


1,010 


4 


1,280 


22 


8,340 


39 


15, 590 


38 


14,720 


82 


84 


3 


1,070 


4 


1,360 


22 


8,780 


40 


16, 390 


39 


15,500 


84 


86 


3 


1,130 


4 


1,440 


22 


9,220 


41 


17, 210 


40 


16, 300 


86 


88 


3 


1,190 


4 


1,520 


22 


9,660 


42 


18, 050 


41 


17,120 


88 


90 


3 


1,250 


4 


1,600 


22 


10, 100 


43 


18, 910 


42 


17,960 


00 


92 


3 


1,310 


4 


1,680 


22 


10, 540 


44 


19, 790 


43 


18,820 


92 


94 


3 


1,370 


4 


1,760 


22 


10, 980 


45 


20,690 


44 


19, 700 


94 


96 


3 


1,430 


4 


1,840 


22 


11, 420 


46 


21,610 


45 


20,600 


96 


98 


3 


1,490 


4 


1,920 


22 


11, 860 


47 


22, 550 


46 


21,520 


98 


100 


3 


1,550 


4 


2,000 


22 


12, 300 


48 


23, 510 


47 


22, 460 


100 


150 


4 


3,550 


5 


4,500 


27 


25, 800 


52 


49, 510 


48 


46, 460 


150 


200 


4 


5,550 


6 


7,500 


31 


41, 300 


56 


77, 510 


49 


70, 960 


200 


250 


4 


7,550 


7 


11, 000 


37 


59, 800 


60 


107, 510 


50 


95, 960 


250 


300 


5 


10, 050 


8 


15, 000 


42 


80, 800 


60 


137, 510 


50 


120, 960 


300 


400 


5 


15, 050 


9 


24,000 


46 


126, 800 


63 


200, 510 


50 


170, 960 


400 


500 


5 


20,050 


9 


33, 000 


46 


172, 800 


63 


263, 510 


50 


220, 960 


500 


750 


6 


35, 050 


10 


58, 000 


60 


297, 800 


64 


423, 510 


50 


345, 960 


750 


1,000 


6 


50, 050 


10 


83, 000 


55 


435, 300 


64 


583, 510 


50 


470, 960 


1,000 


1,500 


6 


80, 050 


11 


138, 000 


61 


740, 300 


65 


908, 510 


50 


720, 960 


1,500 


2,000 


6 


110,050 


12 


198, 000 


62 


1, 050, 300 


65 


1, 233, 510 


50 


970, 960 


2,000 


5,000 


6 


290, 050 


13 


588, 000 


63 


2, 940, 300 


65 


3, 183, 510 


50 


2, 470, 960 


5,000 




6 




13 




63 




65 




50 

















> In arriving at the net income subject to surtax for 1934 and subsequent years, the sum of the personal 
exemption and credit for dependents is allowed as a credit; prior to 1934 the entire net income was subject 
to surtax. 



STATISTICS OF INCOME 
total surtax under the Revenue Acts of 1913 through 1937 



193 



Net income • 


Revenue Act 








1924 


1926 




1932 




1934 


1936 » 






On incomes for 


On incomes for 


On incomes for 


On incomes for 


On incomes for 


Exceed- 


Equal- 




1924 


1925,1926. 1927, 


1932. 1933 


1934. 1935 


1936. 1937 


ing 


ing 






and Act of 1928 

on incomes for 

1928 through 

1931 


















Rate 




Rate 




Rate 




Rate 




Rate 




Thousa 


nds of 


(per- 


Total 


(per- 


Total 


(per- 


Total 


(per- 


Total 


(per- 


Total 


dotlc 


ITS 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


cent) 


surtax 


4 
5 
6 

7.5 
8 
10 


5 

6 

7.5 

8 
10 
12 














4 
4 
6 
6 
6 
7 


$40 
80 
155 
180 
300 
440 


4 
4 
6 
6 
6 
7 


$40 










...... 




80 










1 
1 
2 


$15' 

20 
40 
80 


165 










180 










300 


.. 


"$20" 


.. 


$26" 


440 


12 


12.5 


1 


25 


1 


25 


3 


95 


8 


480 


8 


480 


12.5 


13 


1 


30 


1 


30 


3 


110 


8 


520 


8 


620 


13 


14 


1 


40 


1 


40 


3 


140 


8 


600 


8 


600 


14 


15 


2 


60 


2 


60 


4 


180 


9 


690 


9 


690 


15 


16 


2 


80 


2 


80 


4 


220 


9 


780 


9 


780 


16 


18 


3 


140 


3 


140 


5 


320 


11 


1,000 


11 


1,000 


18 


20 


4 


220 


4 


220 


6 


440 


13 


1,260 


13 


1,260 


20 


22 


5 


320 


5 


320 


8 


600 


15 


1,660 


15 


1,560 


22 


24 


6 


440 


6 


440 


9 


780 


17 


1,900 


17 


1,900 


24 


26 


7 


580 


7 


580 


10 


9S0 


17 


2,240 


17 


2,240 


26 


28 


8 


740 


7 


720 


11 


1,200 


19 


2,620 


19 


2,620 


28 


30 


9 


920 


8 


880 


12 


1,440 


19 


3,000 


19 


3,000 


30 


32 


10 


1,120 


8 


1,040 


13 


1,700 


19 


3,380 


19 


3,380 


32 


34 


10 


1,320 


9 


1,220 


15 


2,000 


21 


3,800 


21 


3,800 


34 


36 


11 


1,540 


9 


1,400 


15 


2,300 


21 


4,220 


21 


■.,220 


36 


38 


12 


1,780 


10 


1,600 


16 


2,620 


21 


4,640 


21 


4,640 


38 


40 


13 


2,040 


10 


1,800 


17 


2,960 


24 


6,120 


24 


6,120 


40 


42 


13 


2,300 


11 


2,020 


18 


3,320 


24 


6,600 


24 


6,600 


42 


44 


14 


2,580 


11 


2,240 


19 


3,700 


24 


6,080 


24 


6,080 


44 


46 


15 


2,880 


12 


2,480 


20 


4,100 


27 


6,620 


27 


6,620 


46 


48 


16 


3,200 


12 


2,720 


21 


4,520 


27 


7,160 


27 


7,160 


48 


50 


17 


3,540 


13 


2,980 


22 


4,960 


27 


7,700 


27 


7,700 


50 


52 


18 


3,900 


13 


3,240 


23 


6,420 


30 


8,300 


31 


8,320 


52 


64 


19 


4,280 


14 


3,520 


24 


6,900 


30 


8,900 


31 


8,940 


54 


56 


19 


4,660 


14 


3,800 


26 


6,400 


30 


9,500 


31 


9,660 


56 


68 


20 


5,060 


15 


4,100 


26 


6,920 


33 


10, 160 


36 


10, 260 


58 


60 


21 


5,480 


15 


4,400 


27 


7,460 


33 


10,820 


36 


10,960 


60 


62 


21 


6,900 


16 


4,720 


28 


8,020 


33 


11,480 


36 


11,660 


62 


64 


22 


6,- 340 


16 


5,040 


29 


8,600 


36 


12,200 


39 


12, 440 


64 


66 


23 


6,800 


17 


5,380 


30 


9,200 


36 


12,920 


39 


13, 220 


66 


68 


24 


7,280 


17 


5,720 


31 


9,820 


36 


13,640 


39 


14,000 


68 


70 


25 


7,780 


17 


6,060 


32 


10,460 


39 


14,420 


43 


14,860 


70 


72 


26 


8,300 


18 


6,420 


33 


11, 120 


39 


15,200 


43 


15, 720 


72 


74 


26 


8,820 


18 


6,7«0 


34 


11,800 


39 


15,980 


43 


16, 580 


74 


75 


27 


9,090 


18 


6,960 


35 


12, 150 


42 


16,400 


47 


17,050 


75 


76 


27 


9,360 


18 


7,140 


35 


12, 500 


42 


16, 820 


47 


17, 520 


76 


78 


28 


9,920 


18 


7,500 


36 


13,220 


42 


17,660 


47 


18, 460 


78 


80 


28 


10,480 


18 


7,860 


37 


13, 960 


42 


18,500 


47 


19,400 


80 


82 


29 


11,060 


19 


8,240 


38 


14, 720 


45 


19,400 


51 


20,420 


82 


84 


30 


11,660 


19 


8,620 


39 


15, 500 


45 


20,300 


61 


21,440 


84 


86 


31 


12,280 


19 


9,000 


40 


16,300 


45 


21,200 


51 


22, 460 


86 


88 


31 


12,900 


19 


9,380 


41 


17, 120 


45 


22, 100 


51 


23, 480 


88 


90 


32 


13, 540 


19 


9,760 


42 


17,960 


45 


23,000 


51 


24, 500 


90 


92 


33 


14,200 


19 


10, 140 


43 


18,820 


50 


24,000 


56 


25,600 


92 


94 


34 


14,880 


19 


10, 520 


44 


19, 700 


50 


25,000 


65 


26,700 


94 


96 


35 


15,580 


19 


10,900 


45 


20, 600 


50 


26,000 


55 


27,800 


96 


98 


36 


16,300 


19 


11,280 


46 


21,520 


50 


27,000 


65 


23,900 


98 


100 


36 


17, 020 


19 


11,660 


47 


22,460 


50 


23,000 


55 


30, 000 


100 


150 


37 


35, 520 


20 


21,660 


48 


46, 460 


52 


54,000 


58 


59, 000 


150 


200 


37 


54,020 


20 


31,660 


49 


70,960 


53 


80,600 


60 


89,000 


200 


250 


38 


73,020 


20 


41,660 


60 


95,960 


54 


107, 500 


62 


120,000 


250 


300 


38 


92, 020 


20 


51,660 


50 


120,960 


54 


134, 600 


64 


152,000 


300 


400 


39 


131,020 


20 


71,660 


51 


171,900 


55 


189, 500 


66 


218,000 


400 


500 


39 


170,020 


20 


91,660 


52 


223,960 


56 


245, 500 


68 


286, 000 


500 


750 


40 


270,020 


20 


141,660 


53 


356, 460 


57 


388,000 


70 


461,000 


760 


1,000 


40 


370, 020 


20 


191,660 


54 


491, 460 


58 


533,000 


72 


641,000 


1,000 


1,500 


40 


570,020 


20 


291,660 


55 


766,460 


59 


828,000 


73 


1,006,000 


1,500 


2,000 


40 


770,020 


20 


391, 660 


55 


1,041,460 


59 


1,123,000 


73 


1,371,000 


2,000 


5,000 


40 


1,970,020 


20 


991, 660 


55 


2,691,460 


59 


2,893,000 


74 


3,591,000 


5,000 




40 




20 




55 




59 




75 











' Tax for 1923 reduced 25 percent by credit or refund under section 1200(a) of the Revenue Act of 1924. 
3 Not applicable to all nonresident alien individuals. See note 16(b), p. 191. 



194 



STATISTICS OF INCOME 



C. — Federal individual and fiduciary supplemental income and profits tax 



Excess-profits tax 


Tax credit for income and profits taxes paid to 
foreign countries or United States possessions 


Rev- 
enue 
Act 


Income 
year 


Income subject to excess- 
profits tax 


Rate 
(per- 
cent) 


Rev- 
enue 
Act 


Income year 


Amount of credit 


1917 


1917 


Salaries in excess of $6,000,' 
and income in excess of 
$6,000 1 from business hav- 
ing no invested capital. 
Net income from business 
having invested capital: 2 
Net income equal to 15 
percent of invested 
capital less deduc- 
tion.3 
Xet income in excess of 
15 percent of invested 
capital but not in ex- 
cess of 20 percent of 
invested capital. 
Net income in excess of 
20 percent of invested 
capital but not in ex- 
cess of 25 percent of 
invested capital. 
Net income in excess of 
25 percent of invested 
capital but not in ex- 
cess of 33 percent of 
invested capital. 
Net income in excess of 
33 percent of invested 
capital. 


s 

20 
25 

35 

45 

60 


1917 

1918 

1921 
1921 
1924 
1926 

1928 

1932 
1934 
1936 


1917 

1918. 1919, 

1920 

1921 
1922. 1923 « 

1924 
1925. 1926, 

1927 
1928,1929, 
1930, 1931 
1932, 1933 
1934, 1935 
1936. 1937 


Income and profits taxes 
paid to foreign coun- 
tries or United States 
possessions were not 
allowed as a tax credit 
but were included in 
general deductions 
from gross income, ex- 
cept that taxes paid 
to foreign countries 
were not allowed to 
nonresident aliens. 

Amount paid or ac- 
crued.' 
D0.5 
Do. 
Do. 
Do. 

Do. 

Do.' 
D0.7 
Do.' 



1 In excess of $3,000 for nonresident aliens. 

2 Nonresident aliens having business with invested 
capital, reported only that proportion of invested 
capital which net income from sources within the 
United States was of the entire net income. 

3 Deduction (not allowable to nonresident aliens), 
$R,000 plus an amount equal to the same percentage of 
invested capital for taxable year as the average an- 
nual pre-war income was of pre-war invested 
capital (not loss than 7 percent nor more than 9 
percent) . If not established during at least one whole 
year of the pre-war period, 8 percent. If, during the 
pre-war period, the individual had a deficit or a very 
small income from business, or if invested capital 
cannot be determined, same percent as that of repre- 
sentative businesses. (See sec. 210, Revenue Act of 
1917.) 

' Nonresident aliens were not allowed to deduct 
income taxes paid to foreign countries, either as a 
tax credit or in general deductions for the years 1918, 
1919, and 1920. 

5 Beginning with 1921, the credit cannot exceed 
the proportion of the total tax against which the 
credit is taken, that the taxfjayer's net income from 
sources without the United States bears to the entire 
net income. This credit does not apply to nonresi- 
dent aliens nor to citizens deriving a large portion of 
their gross income from sources within a possession 
of the United States, but to such persons these taxes 
are allowable as a deduction from gross income, if 
imposed upon income from sources within the United 
States. For the years 1921 through 1931, the amount 
of income and profits taxes paid to foreign countries 
or United States possessions, in excess of that de- 
ducted as a tax credit, is permitted to be included 
in deductions against gross income. (See note 7.) 



8 Tax for 1923 reduced 25 percent by credit or re- 
fund under section 1200(a) of the Revenue Act of 
1924. 

' For 19.32 and subsequent years, the taxpayer may 
elect to credit the income and profits taxes paid to 
foreign countries or United States possessions (with 
certain limitations) against the income tax liability 
to the United States, or to include the entire amount 
of such taxes in deductions against gross income, ex- 
cept that nonresident aliens and citizens deriving a 
large portion of their gross income from sources with- 
in a possession of the United States are not entitled 
to claim the tax credit but may include the amount of 
such foreign taxes if imposed upon income from 
sources within the United States, in deductions 
against gross income. (See sections 131 and 23(c) (2) , 
Revenue Act of 1932 and subsequent Acts.) 

' The Revenue Act of 1937 is not a complete taxing 
statute in itself, but merely amends and adds to the 
provisions of the 1936 Act. See last part of note 
5(c), table A, p. 190. 

» Except stock in trade, property which would be 
included in inventory, or property held for sale in 
ordinary course of business or trade. 

1" The following percentages of the gains or losses 
recognized upon the sale or exchange of capital assets 
are taken into account in computing net income; 
100 percent if capital asset was held not over 1 

year. 
80 percent if capital asset was held over 1 year, 

but not over 2 years. 
60 percent if capital asset was held over 2 years, 

but not over 5 years. 
40 percent if capital asset was held over 5 years, 

but not over 10 years. 
30 percent if capital asset was held over 10 years. 



STATISTICS OF INCOME 
rates and credits, under the Revenue Acts of 1917 through 1937 



195 



Capital gains and losses 



Rev- 
enue 
Act 



1921 



1926 
1928 
1932 



1934 
1936 
1937 s 



Income 
year 



1922, 1923 6 



1925, 1926, 

1927 
192S, 1929, 
1930, 1931 
1932, 1933 



1934, 193.'S 
1936. 1937 
1937 



Definition of 
capital assets 



held 
> r 2 



years. 



-do- 



do. 

do- 



do 

'All property 
held by 
taxpayer, 
whether or 
not con- 
n e c t e d 
with trade 
or busi- 
ness, re- 
gardless of 
period 
held. 9 



Tax on capital net gain 



Taxpayer may elect to be taxed 
at 12}-^ percent on capital net 
gain, provided that the total 
tax, including the tax on capital 
net gain, is not less than 12}^ 
percent of the total net income. 
(Loss in ordinary net income 
cannot be deducted from capital 
net gain.) 

Taxpayer may elect to be taxed 
at 12J/2 percent on capital net 
gain, if the tax would be greater 
than 12>2 percent by including 
capital net gain in ordinary net 
income. (Loss in ordinary net 
income may be deducted from 
capital net gain and the balance 
taxed at 12V^ percent.) 

Same as 1924 Act 

do 

do 

Taxable gains, and losses are com- 
puted on basis of certain percent- 
ages '" which vary according to 
period for which assets were held. 
Capital net gains, after the per- 
centages are applied, are in- 
cluded in net income and are 
subject to normal tax and surtax. 
Deduction for capital net loss 
(after the percentages are ap- 
plied, and after subtracting the 
amount of net capital gain) is 
limited to $2,000 or the amount 
of net loss, whichever is less. 



Tax credit on capital net loss 



None. Capital net loss is de- 
ductible from ordinary in- 
come. 



Capital net loss may be reported 
apart from ordinary net in- 
come, and a tax credit of \2)/2 
percent of the capital net loss 
taken, if tax thus produced is 
not less than the tax would be 
if the capital net loss were de- 
ducted from ordinary income. 

Same as 1924 Act. 

Do. 

Do. 
None. (See preceding column 
for deduction of capital net 
loss.) 



Credit on earned net income 



Rev- 
enue 
Act 


Income 
year 


Kind of 
credit 


Earned net income subject to tax 


Limit of credit 


1924 

1926 

1928 

1932 
1934, 
1936 


1924 

1925, 1926, 
1927 

1928, 1929, 
1930, 1931 

1932, 1933 
1934, 1935, 
1936, 1937 


Against tax _. 
__.-do 

do 


All net income up to $5,000 whether 
earned or not, and up to $10,000, 
if earned. 

All net income up to $5,000, 
whether earned or not, and up 
to $20,000, if earned. 

All net income up to $5,000 whether 
earned or not, and up to $30,000, 
if earned. 


25 percent of normal tax on 
earned net income. (Cannot 
exceed 25 percent of normal 
tax on ordinary net income.) 

25 percent of total tax on earned 
net income. (Cannot exceed 
the sum of 25 percent of nor- 
mal tax on ordinary net in- 
come and 25 percent of surtax 
on earned net income.) 
Do. 


(Against net 
\ income. 


All net income up to $3,000 whether 
earned or not, and up to $14,000, 
if earned. 


10 percent of the earned net in- 
come, but not in excess of 10 
percent of the entire net in- 
come. 



196 



STATISTICS OF INCOME 



S< 



•^ ^H C^ CO lO 0» 00 <p «0 <0 00 C^ — ' ■'J' <M (N t^ t^ C^ CS t^ t^ (M C^ C^ C^ CS C^ C^ C^ 



^HCSMCOt^'HlccOC^OOiO-' 



-H«-H(Nro>Ot^05'H-*! 



:t^oioc<»acr^QC— 'coeocD 



" oo PO OS«DC 



,-1 rt rH>-l(M«C 



(N-«?'eCOOOC^T}'r*t^OOCCe05CCOas!N»^00<-''^»^OC*5tDOSr^rOC2t^050 
^ -^ i-( »-l »-H ,-( C^ C^ C^ C^ CS C^ C^ « CO CC tH -V ''l^ »C lO »o IC to CD CO «o CO t^ 



j3>o 

ca 32 



s ta CO 3 



H ooc 
.S — icoc 



50C000C 

soooooc 



sooooooooo 
scoocooooo 



888? 



!8gS 

; CC ceo 



^ ^*^ r-T cs" cs cc « -^ o go" 






^^-^C^CC-^*0t^C5C^C^O50CiClC^(NiC00-^'<J'»^OC0O00OC^"*'<D00OOO 



o 3 o 



c o o ooo 
C; .— coco o lo 






gOOCTJO'^^CCOOOOOO— C20C5C^O = 
OCCOOOQOOCOCOOOOQQOO 

' CS* W<" C^ ■^'' OT CO ci" C*f tt" C^ ccT — ^ CO -^ CO — ' CO ^ CO CO CO 
»-ir-iC0Tj*C00005C^^C^».*rC0O-^QO'-'G0 

^-C^CO-'^'iCt^OOOi-HlOOO 



C: = O OO 



- — CD ^^ ci,- ^^' ^i_ ci: ci.- cc ^; 



rt rt -« -HCq IN 



oo 

_ oo 
5oo 

co'cc-co 

^CO -H 

cot-T-J 



jr^t^05Ci^-^-coco»Cicr^05-^^coior^a5^Hco»ot^cs'Hco»o«3»o 
^H^— i^Hi-ti-i^^Mc^i'Mc^c^cocoeococo-'i'.^.^Tp'^ 



(§3 



oS 



oooooooooc 

V— 't— '^_ji— 'OOOOOOOOOC 



•"-Tco"-^ «" c^* ic cs" -^---^ OC GfT cc" M GC cc srf ?c c 
i-HT-iC^CCCC-^OOrOQCfCCiCCfCC 



OOOQ 

oooo 

iO "5 iC »0 

>0 CO CO co" 
o *C iC iO 
—I CO CO CO 

.-H-i-^co cT 



^^^^H^^C^CSfOCO- 



.iOLO<CCCt^OCCiO-^C^COTj<'»*<iCOt^OOdOCO 



S B 



lOOOOCC^OOOOOCOOOOOCCO 





dScei 


2 >> 


gss- 


11 

. a 

00 o 


lili 










^ -a 



««-»< "5 — CO C^ 



»-Hr.HC^COCO»OOOCOOOOCCiOM*r)<^-^COOOOOOO 



^^C^COCO'^»OCOOO'i>C^'<rcO-HCO 



< "-I — 1-1 ■>!)• -^ 



— — -Hrt-HWNNCOCO-*-«"CO«OOOOOOC^-*-*COCOOOOOOOOC-»NlOlOiO 



o 


E^- 


.^.J 


O.C 










^. 










i:a 


»-H 


c» . 



hoooooooooooocoooooo^^oooooocoq 
eooooooqoooqqoooqoo:^oqoooooqoqo 



ooooooooo 



oooooooooo 



^^COiOQO^C*3t^C<It^ClC^CSC^C^C^C^C^ClC*3CS'rJC^C^C^C^C< 



1— ic^cvico'«*'»cu3ccxoc^icr^cst^ 



05S 



_NC<NMNi>i<-^'^COCOOOaOCOOOC^C^-*J*'^COCOOOOCOOOC^M»C»OlO 



•^« co" 

■a" ^ 3S 

c o oojO 

2<; 



-Ci ^ CO -^j- o t* CO w ^* O c^ cs c^ ic t^ uo ic in L- — lt: L- u- o uc L- uo t.- lo 4jr: i.- *o 
'S i-Tcf co"« oc r-^o —'(n'cc — *"^' — ' ^r ^' '-^' cc'^r" "' —' — ' — r ^' — ^ ^ 

^o i-ii-<c^r4roco'^tri'-cxc;'-c^t-?5 



^i^^«— i^^t-i,-«i-Hcc«co^<"^cc«cb-r^t^t-C5CiOOc^c^coco*Cicmioio«5ioio 

■Ssi 






^^ o' 



®2JS 



~S=r£c= — S£iSSic:c:=: = — =: — o — c:c;oo=:=;55220 
~ — D ro 1C- 1.-: — L- ^-. S i-o i.-: ■_- — ..-: 5 c: = — = 2 — c: = c = o c o O o o 

a „cj'<rio — CO — 00 — —I — — CO — — — CO — — — c--.— — — -< 

•g — — csNcOTrr-Ocot~ — >---. 35 — T~- 



^ , ^^— — — — — c-)c^rqcoco'*T)<>o>S'C>acocor~t^xocc:e!OOOOoooo 



tiSi 



■OOOOOOQCC 



_ _ jocc oooccooo coc oo CO ooo oc 
;-«-icr~o>oo>r;OioO"500Coooooocooooc 

— — C^CS'fl«TJ<COt^OOO»OOiOOi-0 0»COOOOO< 



t-i — cscs^:co-^-*»o<ot*ooosOOO 



OOOOCOQOCOCOOOCCCOOCOOO; 

— o«cO'«<i.-r»Ou:5mOi-ootooooooccoO': 
— — MC^Tj.-^rcot^xOi.-Oi.oci.oOi.o; 



— — M <N r: CO •* ■ 



»c-.or^x*ooo 



STATISTICS OF INCOME 



197 






wJ3 



2S2 

-a 












2crS 






o^ 



'So -C^ 

o .Sin 



'aa.'OS^' 



W 



■go. 



'X5» 






2 § « u! !^ 



(9 



1.0 






I Soft- ^ 



eS 



•S^SSs^o^ 






TS .j^ ©i^ ^"O ®*t^ ®'Ci^ 



©S-o" 



SS-S'-o^S'Sg 



a o 



'o3c 
> ■c-5 



S - o S^ ^ 



° M - 5 
" «o 

tta S " 2 "5 « 



P « Srt o 

Xi^ (D o n 



^ U © o 

§io 



gp:;: 






© *f © © © >; 



§ " 2S 
« g 0.-S 2 

o « 5 ?-2o 

S©o^-2 , 
OS ©_ c 
«.„ ^ a:s . 

O O -t^ 03 bo 03 



138 



2 © 



^>"?;'C © ©"d P 



!«' 



O 3 



oO 



©co3© ,30 
nag ^-w 

-|sj>,£2::23 
= -•5= fe°©5: 

°-3«©©'2t5|i;< 
a< ots 3-< > ME 



'gcS=~>-g;c"oa ©ol 

S^i-* 2 3 -S3 3t3-< 

© © s^ S ^ -932' 



c^ 



"O © 



€S5d22(2^S« 



C3 CSTJ 

© 



""SS"" OS'S— 3 
"1 « - >s * "3 ■" 

■- "a.sg 

;« u 3 ^"O 

, , w XS ,S nH J"? r^^ *-• "^ 

5S^«f^-S-25"sp 

13 5 



© © 1 






o ^^ 

a-o ©©Mt,© ^fto 
©gM-S'c3^3 S'SaS 
<§'S§§i2£SSQoS 
© © 

03 U 



•" W © 

f^ ©T3 «; 



a^ ."3 o Z5 ea 
© t£ © 23 *^ 

ft£ g s^ 
3.S £« 

,P S ©-a 



Ti; © 

©-^ip 

ce *^ ©2^ 



"5 MM 



3 © 



i-a « 



ii 



I2 s. 

o 

■ss «< 

-w CO • ©o: 
-O — SJ c3 



© 



'O*-^ © C 

*» o — "2 

_ ©^ p © 

jj 3 © o g 

3 3= a 

c © c 0! „ 

3 > © CO 2 

.■3 © > " « 

* c-=l^ 
.— 000 



tH o © 



©■S-S 
g-cJ-SOg-g 

Si PS-- 0.-W 

C C3 O i; t. CO> 
"^-^ © O o ©»-♦ 

^ "^ o S X . 

"^ t- t- O o © ^i, 

©S£ ==«©-" 

-^ ^ ^ © ©-rt c« 



00 v« 

© u 08 



So.2ig_g"5 
l©«§5-2 

2 3§^f B-g 
CO r; S >, "^ -3 tS 
© ^^C?.--'^^ 
*■ > o^S o~ >- 
^©ag^fc^ 

35 a * S „-"« 

3^.2 O C© i^ 

52B §§»>> 

© ©•-^,^-^'3^^ 

°t».©c2c5 

o " b J:?-" «2 

«.2"°o.a^ 
a fe-s >.2-S 

© C. o t- S O 
■3 "3 © I- °i -" 
•S-O © S.2^'3 

©•2§"5-o 

^■3 M fc. 0.0 >3 
>^« ©£-3 ©'3 

fe a „-_.© a g" 
> © ©^-3 -3 £ 

®g3i«-g© 

">-~ w ©13 © CO 

•a © ©^ 8 « 2 
£££— © 3 3 

■3s5aS©^£ 

3-«S© 

&J=i 

aca ^ a © 
s ©^ © 3 . 



\S © ©« 



3"£ 

©"S 



3t3w. 



u o 2 a o a 

^■3-e^_ a © © 
©a © o g9£ 
^SfJg©5tet= 



rn •" c CO '*-' rr 
©«So-3«£Bf 

_ 3 a .° 

_2 O © © ©q 

- Hx: To-S © 
^ ^ a £ V a 



198 



STATISTICS OF INCOME 



E. — Federal gift tax rates, total gift tax, specific exemption, exclusion and deductions 
under the Revenue Acts of 1924, 1932, and 1932 as amended by 1934 and 1935 ' 



Net gifts 


Revenue Act 






1924 


as amended 
by 1926 




1932 2 


1932 2 

1 


as amended 
by 1934 


1932 


as amended 
by 1935 






In effect June 2, 


In effect June 6, 


In effect calendar 


In effect calendar 






1924, through 


1932, through 


year 1935 


year 


1936 and sub- 


Exceeding 


Equaling 


Dec. 31, 1925 


Dec. 31. 1934 






sequent years 


Rate 
(per- 
cent) 


Amount 
of tax 


Rate 
(per- 
cent) 


Amount 
of tax 


Rate 
(per- 
cent) 


Amount 
of tax 


Rate 
(per- 
cent) 


Amount 
of tax 




$10,000 


1 


$100 


M 


$75 


'4 


$75 


iVi 


$150 


$io,'ooo' 


20, 000 


1 


200 


4 


225 


lj| 


225 


3 


450 


20,000 


30.000 


1 


300 


2J^ 


450 


-^H 


450 


45^ 


900 


30,000 


40,000 


1 


400 


3 


7,50 


3 


750 


6 


1,500 


40,000 


50, 000 


1 


500 


^H 


1. 125 


33^ 


1,125 


7M 


2,250 


50,000 


70, 000 


2 


900 


5 


2, 125 


5K 


2,175 


9 


4,050 


70,000 


100, 000 


2 


1, 500 


5 


3, 625 


634 


4,200 


lOJ^ 


7,200 


100, 000 


150,000 


2 


2,500 


f\i4 


6,875 


9 


8,700 


1234 


13,575 


150, 000 


200, 000 


3 


4,000 


6}^ 


10, 125 


9 


13,200 


123i 


19, 950 


200, 000 


250, 000 


3 


5. 500 


8 


14, 125 


12 


19,200 


15 


27, 450 


250, 000 


400,000 


4 


11,500 


S 


26, 125 


12 


37, 200 


15 


49, 950 


400, 000 


450, 000 


4 


13, 500 


91^ 


30, 875 


14'^ 


44, 325 


\7H 


58, 575 


450, 000 


600, 000 


6 


22, 500 


91-? 


4.5, 125 


1414 


65, 700 


\7H 


84, 450 


600, 000 


750, 000 


6 


31, 500 


11 


61, 625 


16^ 


90, 450 


19H 


113,700 


750, 000 


800, 000 


8 


35. 500 


11 


67, 125 


16>^ 


98,700 


191^ 


123,450 


800, 000 


1,000,000 


8 


51, .500 


12H 


92, 125 


18M 


136.200 


213;^ 


166, 950 


1, 000, 000 


1, 500, 000 


10 


101, 500 


14 


162, 125 


21 


241,200 


24 


286, 950 


1, 500, 000 


2, 000, 000 


12 


161, ,500 


151^ 


239. 625 


2314 


357, 450 


261^ 


418, 200 


2, 000, 000 


2, 500, 000 


14 


231,. 500 


17 


324. 625 


251/^ 


484, 950 


281-^ 


560, 700 


2, 500, 000 


3, 000, 000 


14 


301, .500 


I8J2 


417. 125 


2734 


62^ 700 


30?i 


714,450 


3. 000, 000 


3, 500, 000 


16 


381, .500 


20 


517, 125 


30 


773, 700 


33 


879, 450 


3, 500, 000 


4, 000, 000 


16 


461, 500 


211^ 


624, 625 


3214 


934, 950 


3514 


1, 05,5, 700 


4. 000, 000 


4, 500, 000 


18 


,551,. 500 


23 


73Q, 625 


341^ 


1, 107, 450 


371/^ 


1, 243, 200 


4, 500, 000 


5, 000, 000 


18 


641,. 500 


24J^ 


862. 125 


36 


1, 287, 450 


mi 


l,441,9.'i0 


5, 000, 000 


6, 000, 000 


20 


841, 500 


26 


1,122,125 


37H 


1,662,4.50 


42 


1, 861, 950 


6,000,000 


7, 000, 000 


20 


1, 041. ,500 


27^ 


1, 397, 125 


39 


2, 052, 450 


441^ 


2, 304, 450 


7, 000, 000 


8. 000. 000 


20 


1,241,500 


29 


1,687,125 


401^ 


2. 457, 450 


4534 


2, 761, 950 


8, 000, 000 


9, 000, 000 


22 


1, 461, ,500 


301-^ 


1, 992, 125 


42 


2. 877, 450 


4-i.i 


3, 234, 450 


9, 000, 000 


10.000,000 


22 


1.681,, 500 


32 


2,312,125 


43H 


3, 312, 450 


483^ 


3, 721, 950 


10, 000, 000 


20, 000, 000 


25 


4, 181, .500 


.331^ 


5, 662. 125 


45 


7, 812, 450 


5014 


8, 746. 950 


20, 000, 000 


50, 000, 000 


25 


11, 681, 500 


33K 


15. 712. 125 


45 


21,312,450 


5134 


24.271,950 


50, 000, 000 




25 




33^ 




45 




52^ 















Revenue Act 



1924 as amended by 1926.. 



1932 and 

1932 as amended by 1934 . 



1932 as amended by 1935 _ 



Specific exemption, exclusion and deductions 



Specific exemption: 

Resident: $.50,000 each calendar year. 

Nonresident: None. 
Gifts to individuals not in excess of $500.3 
Previously taxed property and charitable, etc., gifts. 
Specific exemption: 

Resident or citizen: $50,000 allowed but once; may be taken all in 1 year 
or over a period of years at option of donor. 

Nonresident alien: None. 
Exclusion of $5,000 for each donee (except future interests) .3 
Charitable, public and similar gifts. 
Specific exemption: 

Resident or citizen: .$40,000 allowed but once; may be taken all in 1 year 
or over a period of years at option of donor. 

Nonresident alien: None. 
Exclusion of $5,000 for each donee (except future interests). 3 
Charitable, public and similar gifts. 



1 No gift tax in effect, Jan. 1. 1926, through June 5, 1932. Gift-tax returns are required to be filed for the 
year ending Dec. 31. 

s Tax for current year is the excess of tax computed on the aggregate sum of net gifts for such current year 
and preceding years over tax computed on aggregate sum of net gifts for preceding years. 

' While the specific exemption is not allowable to nonresident aliens, they are entitled to the exclusion for 
each donee. 



INCOME TAX FORMS 



199 



FACSIMILES OF INDIVIDUAL INCOME TAX RETURNS, FIDUCIARY 
INCOME TAX RETURN AND PARTNERSHIP RETURN OF 
INCOME FOR 1937 



Form 1040A. Individual income tax return for net incomes of not 
more than $5,000 derived from salaries, wages, interest, and dividends. 

Form 1040. Individual income tax return for net incomes from 
salaries, wages, interest, and dividends of more than $5,000, and 
incomes from other sources regardless of amounts. 

Form 1041. Fiduciary income tax return. 

Form 1065. Partnersliip return of income. 

201 



202 



STATISTICS OF INCOME 



UNITED STATES 



1937 INDIVIDUAL INCOME TAX RETURN 1937 



Do not write in this space 



Treajury Department (FORM 1040 A) InJemal Revenue Service 

FOR NET INCOMES OF NOT MORE THAN $5,000 DERIVED 
FROM SALARIES, WAGES, INTEREST, AND DIVIDENDS 

This fcnn must NOT be used if income is derived froo? any other source or if the 

net income (item 11) is over $5,000. Use instead Form 1040. 

To be 6]ed u u to mA (be CoHedor of Intenial Revouie for roar dbirid oa v bcfcce March IS, 1938 

PRjrrr name and home address plainly below 

(li^) (BMk hutud V^ rili. If tki U ■ xiiS nan] (Si> lul7«^M 8) 



Cuh— Check— M. 0. 



;",™no. income 

Salaries and other compensation for periona. 
Dividends - 



1 Schedule B) $.. 



Interest on bank deposits^ notes, mortgages, etc 

Interest on corporation bonds - ^ 

Total income in items I to 4 — 

DEDUCTIONS 
Contributions paid. (From Schedule C) $.. 

Interest paid. (From Schedule D)_ 

Taxes paid. (From Schedule E)_ - - 

Other deductions authorized by law. (From Schedule F) „ 

Total deductions in items 6 to 9 _ - 

COMPUTATION OF TAX 
Net income for normal tax purposes (item 5 minus item 10) 

Less: Earned income credit. (From Schedule G)_ $.. 

Personal exemption. (From Schedule A) - 

Credit for dependents. (From Schedule A) ^ 

Balance taxable (item 11 minus items 12, 13, and 14) - 

Total income tax (4% of item 15) ._ 

Less: Income tax paid at source on tax-free covenant bonds $.. 

Income tax paid to a foreign country or United States possession. (Attach Form 1116) _ 
Balance of tax (item 16 minus items 17 and 18) 



Schedule A.— EXPLANATION OF CREDITS CLAIMED IN ITEMS 13 AND 14. (Sm In.tru 


• ion. 13 en 


d 14) 






(a) Personal Exemption 


(b) Credit for 


Dependents 






Numbo of 
Months During 

Euh St.to. 


Crcilit Clkimcd 


Nwne «f Dependent and R<ltlionihip 


Number o( Month. 
During the Year 


Credit Cluned 




Under 18 
Vein Old 


Over 18 
Yeu. Old 


Single, or married and not living 
with husband or wife 




$ 










$ 




Married and living with husband 




























































Name of dependent 

and relationship 


Reason for support 

if 18 yearseold or over 







NOTE.— One form marked "DUPLICATE COPY" must be filed with this original return ($5 will be 
assessed if duplicate copy is not filed) s-i7u2 



STATISTICS OF INCOME 



203 



Sch«dul< B.— INCOME FROM SALARIES AND OTHER COMPENSATION FOR PERSONAL SERVICES. (S— InatrucUon 1) 



I. Nmb* Mid AddrcM of E4nployer or Nuiire of IncoiDc 2. Amount 


3. Eipcno P.id (IlOTlid 


4. Amount 


$ 






$ 
























" 










Total column 2 minus total column 4 (enter as item 1, page!) 


$ - 




Schedule C— CONTRIBUTIONS PAID. (See In.uuclion «) 


Schedule D.— INTEREST PAID. (See Instruction 7) 


I. Nunc and Addreu of Orfonaation 


2. Amount 


1. To Wlwm Paid 


Z Amount 




$ 






$ 








































Schedule E.— TAXES PAID. (See In.tructlon 8) 


Schedule p.— OTHER DEDUCTIONS. (See Inatruction 9) 




2. Ajmount 


1. DcKription 


2. Amount 




$ 






$ 










































Schedule C— COMPUTATION OF EARNED INCOME CREDIT. (See Inatruc( 



(6) For Net In 



Net income (item II, page 1) $.. 

Earned income credit (10% of item 1 1) 



Item 1 , page 1 (but do not enter more than $1 4,000) 

Net income (item 1 1, page 1) _ _ . 

Earned incomt credit (10% of item I or 11. which- 
ever is unaller, but do not enter less than $300)... 



Schedule 


H.— NOr^AXABLE INCOME. 


See InatrucUon 5> 






1. Obliiationa or Snuritiii 


2. Amount Owned 3. Intereat 
at End oi Year Received 


4. Other Exempt Income 
(Stale nature) 


5. Amount 
Received 




$ 


1$.. 






$ 





















































1. What is yoiir occupation? _.. 

2. Check whether you are a citizen D or a resident alien 

3. U you filed a return (or 1936. to which Collector's offic. 



QUESTIONS 

4. Are items of income or deductions of both husl 

this return? (See Instruction B) 

5. State name of husband or wife if a separate I 
"'' Collector's office to which it was tent: 



wife included in 
; made and the 



AFFIDAVIT. (See Instruction D) 
I /we swear (or affirm) that this return has been examined by me /us, and, to the best of my /our knowledge and belief, is a true 
and complete return for the taxable year as stated, pursuant to the Revenue Acts of 1936 and 1937 and regulations issued under 
authority thereof; and that this form (Form 1040A) was used because I/we had no income from sources other than stated hereon. 

Subscribed and : 



1 to by . 



befo 



: this . 



. day of . 



., 1938, 



A BETURN MADE BY AN AGENT MUST BE ACCOMPANIED BT POWER 
OF ATTORNEY. (See Insiruelioii D) 







186585 — 40- 



-14 



204 



STATISTICS OF INCOME 



1937 



INSTRUCTIONS FOR FORM 1040 A 

UNITED STATES INDIVIDUAL INCOME TAX RETURN 



1937 



Taxpayers will find it helpful to read general instructions (A) to (H) before commencing to All 
in their returns, and to read specific instructions in connection with filling in the item or items to 
which they refer. 

GENERAL INSTRUCTIONS 



(A) WHO MUST USE FORM 1040A 

Form 1040A must be used by all individuals, except nonresident 
aliens, whose net income is not more than $5,000, whose taxable 
income is derived from salaries, wages, or other compensation for 
personal services, dividends, or interest, and who make returns 
on the cash basis and for the calendar year. 

Individuals whose net income exceeds $5,000, or who have any 
income other than that stated above, such as rents or gains from 
the sale of property, or make returns on an accrual basis, or make 
returns for a fiscal year, shall use Form 1040. 

Nonresident aliens are required to use Form 1040B or 1040NB. 

(B) WHO MUST MAKE A RETURN 

An income tax return must be filed by -every citizen of the 
United States whether residing at home or abroad, and every 
person residing in the United States though not a citizen thereof, 
whose gross income (item 5 of Form 1040A) for the taxable year 
is $5,000, or over, or whose net income (item 11 of Form 1040A) 
is — 

(a) $1,000 or over, if single or if married and not living with 

h^jsband or wife; 
(6) $2,500 or over, if married and living with husband or 

wife; or 
(c) Equal to or more than the personal exemption if tax- 
payer was married and living with husband or wife 
during only part of the taxable year. 
If the combined net income of husband and wife is $2,500 or 
over, or if their combmed gross income is $5,000 or over, including 
in each case the earnings of minor children, if their parents have 
the legal right to the aame, all such income must be reported in a 
joint retlim, or in separate returns of husband and wife. In the 
absence of proof to the contrary, a parent will be presumed to 
■ have the legal right to the earnings of a minor and must include 
such earnings in his return. 

In order for a joint return to be filed by husband and wife, 
both must have had some income or deductions in the year for 
which the return is filed and the return must include the income 
and deductions of both. A joint return of husband and wife 
may be filed only if they were living together at the close of their 
taxable year. 

Returns of income of decedents. — If the net income of a dece- 
dent to the date of hie death was $1,000 or over, if unmarried, or 
equal to or in excess of the credit allowed him by section 25(6) 
(1) and (3) of the Jlevenue Act of 1936 (computed without 
regard to his status as the head of a family), if married and living 
with spouse, or if his gross income for the period was $5,000 or 
over, the executor or administrator ahftli make a return for him 
on Form 1040 or 1040A. The return for a decedent shall include 
all items of income and deductions accrued up to the date of 
death regardlees of the fact that the decedent may have kept 
his books on a cash basis. 

Returns for estates and trusts must be made on Form 1041. 

(C) WHEN AND WHERE. THE RETURN MUST BE FILED 

The return must be sent to the collector of internal revenue for 
the district in which the taxpayer has his legal residence, so as to 
reach the collector's office on or before March IS, 1938. In case 
the taxpayer has. no legal residence in the United States, the return 
should be forwarded to the > Collector of Internal Revenue, 
Baltimore, Md. 

(D) AFproAvrr 

The affidavit must be executed by the person whose income is 
reported or by his legal representative or agent. The return may 
be made by an agent (1) if, by reason of illness, the person liable 
for the making of the return is unable to make it, or (2) if the tax- 
payer IB unable to maTce the return by reason of continuous ab- 
sence from the United States for a period of at least 60 days prior 
to the date prescribed by law for making the return. Whenever 
a return is made by an agent it must be accompanied by a power 
of attorney on Form 935, or, in the case of husband and wife, on 
Form 936 (copies of which may be obtained from any collector). 

The oath will be administered without chargft by any collector, 
deputy collector, or internal revenue agent. If an internal reveniie 
officer is not available, the return should be sworn to before a per- 
son authorized to administer oaths, except an attorney or agent 



employed to represent the taxpayer before the Department in 
connection with his tax liability. 
(E) WHEN AND TO WHOM THE TAX MUST BE PAID 

The tax may be paid by sending or bringing with the return a 
check or money order drawn to the order of ''Collector of Internal 
Revenu^." Do not send cash by mail, nor pay it in person except 
at the collector's office. 

The tax must be paid in full wlien the return is filed, or in four 
ec|ual installments, as follows: The first installment shall be paid 
on or before March 15, 1938; the second installment on or before 
June 15, 1938; the third installment on or before September 15, 
1938; and the fourth installment on or before December 15, 1938. 

If any installment is not paid on or before the date fixed for 
payment, the whole amount of tax unpaid shall be paid upon 
notice and demand by the collector. 

(F) PENALTIES 

The law imposes severe penalties for failing to make a return, 
or for making a false or fraudulent return. Penalties are also 
imposed for failing to file a return on time. 

(G) ITEMS EXEMPT FROM TAX 
All items of income received and claimed to be exempt from 
tax Bhould be explained in Schedule H. 

The following items are exempt from Federal income tax, 
except where otherwise indicated, and should not be included in 
grosfl income: 

(a) Amounts received under a life insurance contract paid by 
reason of the death of the insured, whether in a single sum or in 
installments (but if such amounts are held by the insurer under 
an agreement to pay interest thereon, the interest payments shall 
be included in gross income); 

(b) Amounts received (other than amounts paid by reason of 
the death of the insured and interest payments on such amounts 
and other than amounts received as annuities) under a life in- 
surance or endowment contract, but if such amounts (when 
added to amounts received before the taxable year under such 
contract) exceed the aggregate premiums or consideration paid 
(whether or not paid during the taxable year), then the excess 
shall be included in gross income; 

(c) Gifts (not received as a consideration for service rendered) 
and money and property acquired by bequest, dfevise, or in- 
heritance (but the income derived ffom such properly is taxable 
and must be reported) ; 

(rf) Interest upon (1) the obligations of a State, Territory, or 
any political subdivision thereof, or the District of Columbia 
or United States possessions; or (2) obligations issued under the 
provisions of the Federal Farm Loan Act or under such Act as 
amended; or (3) the obligations of the United States; or (4) 
obligations of instrutnentalities of the United States (other than 
obligations issued under Federal Farm Loan Act or under such 
Act as amended), such as Federal Farm Mortgage Corporation 
bonds, Home ■ Owners' Loan ^Corporation bonds, etc. The 
interest on United States Savings Bonds and Treasury Bonds, 
owned in excess of $5,000, and on obligations of instrumentalities 
of the United States (other than obligations issued under Federal 
Farm Loan Act or under such Act as amended) is subject to surtax 
if the surtax net income is over $4,000. 

(e) Amounts received through accident or health insurance or 
under workmen's compensation acts, as compensation for per- 
sonal injuries or sickness, plus the amount of any damages re- 
ceived, whether by suit or agreement on account of such injuries 
or sickness; 

(J) The rental value of a dwelling house and appurtenances 
thereof furnished to a minister of the gospel as part of his com- 



ig) Compensation paid by a State or political subdivision 
thereof to its officers or employees for services rendered if such 
compensation is constitutionally exempt from Federal taxation; 

(h) Pensions and compensation received by veterans from the 
United States and pensions received from the United States by 
the family of aveteran for services rendered by the veteran to the 
United States in time of War; and 

(i) Amounts received as earned income from sources without 
the United States (except amounts paid by the United States or 
any agency thereof) by an individual citizen of the United States 



STATISTICS OF INCOME 



205 



who is a bona fide noaresicfent for more than six months during 
the taxable year. The taxpayer in such a case may not deduct 
from his gross income any amount properly allocable to or charge- 
able against the amount so excluded from his gross income. 
(H) STOCK OWNED IN FOREIGN PERSONAL HOLDING 
COMPANIES 
If you owned stock at any time during the taxable year in a 
foreign personal holding company as defined in section 331 of the 



Revenue Act of 1936, aa amended by the Revenue Act of 1937, 
you must include in your return as a dividend the amount required 
to be included in your gross income by section 337 of the Revenue 
Act of 1936. as amended by the Revenue Act of 1937. If you 
owned 5 percent or more in value of the outstanding stock of such 
company, sot forth in an attached statement in complete detail 
the information required by section 337(d) of the Revenue Act 
of 1936, as amended by the Revenue Act of 1937. 



SPECIFIC INSTRUCTIONS 



The following instructions are numbered to correspond with 
item numbers on the first page of return: 

1. Income from salaries, wages, etc. — Enter as item 1 the 
total of all salaries, wages, or other compensation available 
or received from outside sources, less ordinary and necessary 
expenses^ as reported in Schedule B. Any amount claimed aa a 
deduction for ordinary and necessary expenses against salaries, 
etc., such as traveling expenses while away from home in connec- 
tion with vour occupation, should be fully explained in Schedule B 
or in an attached statement. Traveling expenses ordinarily in- 
clude expenditures for transportation, meals, and lodging. The 
expenses of a commuter in traveling to and from work are not 
deductible. 

If a joint return, enter as separate items in Schedule B earnings 
of each spouse. Earnings of minor children should also be 
entered in Schedule B, if parent is legally entitled to such earnings. 

2. Dividends. — Enter as item 2 the total of all taxable divi- 
dends received" from domestic and foreign corporations. Enter 
in Schedule H all dividends received which are claimed to be 
nontaxable. 

3. Interest on bank deposits, etc. — Enter as item 3 the total of 
all interest on bank deposits, notes, mortgages, etc. Interest on 
savings bank deposit^ is considered income to the depositor when 
credited, even though not entered on the pass book. 

4. Interest on corporation bonds. — Enter as item 4 the total of 
all interest received on bonds, mortgages, and similar obligations 
of corporations. Include bond interest received upon which a 
2 percent Federal tax was paid at the source; said tax may be 
claimed as a credit in item 17 of the return. Interest on bonds 
is considered income when due and payable. 

5. Total income. — Enter as item 5 the total amount of items 
1 to 4. 

NONTAXABLE INCOME— SCHEDULE H 
Schedule H should be filled in if you received any noritaxable 
income or if you owned any of the obligations described in para- 
graph (d) of General Instruction (G). 

DEDUCTIONS 

6. Contributions. — Enter as item 6 the contributions or gifts, 
reported in Schedule C, made within the year to or for the use of; 

(a) -The United States, any State, Territory, or any political 
subdivision thereof, or the District of Columbia, for exclusively 
public purposes; 

(6) A corporation, or trust, or community chest, fund, or 
foundation, organized and operated exclusively for religious, 
charitable, scientific, literary, or educational purposes, or for the 
prevention of cruelty to children or animals, no part of the net 
earnings of which inures to the benefit of any private share- 
holder or individual, and no substantial part of the activities of 
which is carrying on propaganda, or otherwise attempting, to 
influence legislation; 

(c) The special fund for vocational rehabilitation authorized 
by Section 12 of the World War Veterans' Act, 1924; 

(d) Posts or organizations of war veterans, or auxiliary units 
or societies of any such posts or organizations, if such posts, 
organizations, units, or societies are organized in the United 
States or any of its possessions, and if no part of their net earnings 
inures to the benefit of any private shareholder or individual; or 

(e) A fraternal society, order, or association, operating under 
the lodge system, but only if such contributions or gifts are to be 
used exclusively for religious, charitable, scientific, literary, or 
educational purposes, or for the prevention of cruelty to children 
or animals. 

The total amount claimed shall not exceed 15 percent of your 
net income computed without the benefit of this deduction. 

7. Interest paid. — Enter as item 7 the amount reported in 
Schedule D as interest paid on personal indebtedness. Do riot 
include interest on indebtedness incurred or continued to pur- 
chase or carry obligations (other than obligations of the United 
States issued after September 24, 1917, and originally subscribed 
for by the taxpayer) the interest upon which is wholly exempt 
from taxation. 

8. Taxes paid. — Enter as item 8 the amounts reported in 
Schedule E as" taxes imposed upion and paid by you during the 



year. Do not include sales taxes unless the tax was directly 
imposed upon you by law. Do not include taxes asaes<!ed aj^ainst 
local benefits of a kind tending to increase the value of the prop- 
erty assessed, nor Federal income taxes, nor estate, inheritance, 
legacy, succession, or gift taxes, nor taxes imposed upon your 
interest as a shareholder of a corporation which are paid by 
the corporation without reimbursement from you. No deduction 
is allowable for any portion of foreign income taxes if a credit 
is claimed in item 18. 

9. Other deductions. — Enter as item 9 the total amount 
itemized in Schedule F. In the case of loss by fire, storm, ship- 
wreck, or other casualty, or from theft, set forth in Schedule F 
a description of the property, date acquired, cost, subsequent 
improvements, depreciation allowable since acquisition, insur- 
ance and salvage value, and deductible loss. In the case of bad 
debts, including bonds, ascertained to be worthless during the 
taxable year, state in Schedule F, (a) of what the debts con- 
sisted, (b) name and family relationship, if any, of the debtor, 
(c) when the debts were created, (d) when they became due, 
(e) what efforts were made to collect, and (/) how they were 
actually determined to be worthless. Stock which became worth- 
less during the taxable year should be included among the deduc- 
tions in item 9. 

Losses from wagering transactions are allowable only to the 
extent of the gains during the year from such transactions. 

No deduction is allowable for the amount of any item of expense 
or part thereof allocable to a class of exempt income, other than 
interest. 

COMPUTATION OF TAX 

12. Earned income credit. — Enter as item 12 th^ amount of 
earned income credit, as computed in Schedule G. 

The earned income credit allowable to each spouse in a joint 
return is the same as is allowable to each spouse in separate 
returns; however, the earned income, earned income deductions, 
earned net income, and net income of each spouse must be shown 
separately in the joint return. For the purpose of determining 
the 10 percent limitation indicated in Schedule G there should be 
added to the net income shown as item 11 on page 1, the interest 
received by you, if any, on an aggregate in excess of $5,000 prin- 
cipal amount of United States Savings Bonds and Treasury 
Bonds; and the interest on obligations of instrumentalities of the 
United States (other than obligations issued under the Federal 
Farm Loan Act, or under such .Act as amended), reported in 
Schedule H. 

13, 14. Personal exemption and credit for dependents. — A 
single person, or a married person not living with liusband or 
wife, is entitled to a personal exemption of $1,000. A person 
who, during the entire year, was the head of a family or was 
married and living with husband or wife is entitled to an exemp- 
tion of $2,500. If husband and wife file separate returns, the per- 
sonal exemption may be taken by either or divided between them. 

A "head of a family" is an individual who actually supports 
and maintains in one household one or more individuals who are 
closely connected with him by blood relationship, relationship by 
marriage, or by adoption, and whose right to exercise family 
control and provide for those dependent individuals is based upon 
some moral or legal obligation. 

In addition to the personal exemption, a credit of $400 may be 
claimed for each person (other than husband and wife) under 
18 years of age, or incapable of self-support because mentally or 
physically defective, who received his or her chief support from 
the taxpayer. This credit may be allowed only to the person 
who furnishes the chief support, and may not be divided between 
two individuals. 

If the status of the taxpayer, insofar as it affects the personal 
exemption or credit for dependent's, changes during the taxable 
year, the personal exemption and credit shall be apportioned in 
accordance with the number of months before and after such 
change. For the purpose of such apportionment^ a fractional 
part of a month shall be disregarded unless it amounts to more 
than half a month, in which case it shall be considered as a month. 
For example, if a child became 18 years of age on June 16, 1937, 
the taxpayer will be allowed a credit of $2CK) for such dependent. 



206 



STATISTICS OF INCOME 



UNITED STATES 



1937 INDIVIDUAL INCOME TAX RETURN 1937 



(AiM^itor's Stamp) 



Treasury Department (FORM 1040) Intenul Revenue Service 

FOR NET INCOMES FROM SALARIES, WAGES, INTEREST, AND 

DIVIDENDS OF MORE TH\N JS.OCC. AND INCOMES FROM 

OTHER SOURCES REGARDLESS OF A.MOUNTS 

For Calendar Year 1937 or Fiscal Year 

beginning .. , 1937, and ended , 1938 

File Ihis ferum nol lalfr Ihan Uie ISlb day of the third monA ionowinj [be dose nf fht U^abie year 
PRINT NAME AND ADDRESS PLAINLY (S.« Initructlon E) 

(N«CMr'(B(rfh'liiub>nj'^d'»¥(ViV«'i«int"retB,'n) 

(Stiecl wid noinbcr. or ratal route) 



Casli— Check— M. 0. 



In.l^.on'N.v INCOME 




$ 




























6. Income (or loss) from partnerships, syndicates, pools, etc. (furnish name and address): 






7. Income from fiduciaries (furnish name and address): 






8. Rents and royalties (from Schedule C) 












10. Gain (or loss) from sale or exchange of property (from Schedule F) 






11. Other income (state nature: use separate schedule if necessarj') ..__ 










DEDUCTIONS 








14. Interest (explain in Schedule G) 






15. Taxes (explain in Schedule G) 












17. Bad debts (explain in Schedule G). 






18. Other deductions authorized by law (explain in Schedule G) 






19. Total deductions in items 13 to 18 




20. Net income (item 12 minus item 19) 


$ - 





COMPUTATION OF TAX 



Net income (item 20 above) 
Less: Personal exemption 

(from Schedule I). 
Credit for dependents 

(from Schedule I)., 



Balance (surtax net income). 

Less: Interest on Govern- [ 

ment obligations (item 5)] $ 

Earned income credit 

(from Schedule J) | 

Balance subject to normal tax.- ^ !$.. 



28. Normal tax (4% of item 27) _ 

29. Surtax on item 24 (see Instruction 29).. 

30. Total tax (item 28 plus item 29) 

31. Less: Income tax paid at 

source 

32. Income tax paid to a 

foreign country or 
U. S. possession.... 

33. Balance of tax (Item 30 minus ii 



NOTE.— One form marked "DUPLICATE COPY" must be fUed with this original return ($5 will be 
assessed if duplicate copy is not filed) s-i. 



STATISTICS OF INCOME 



207 



Pace 2 

Schedule A— INCOME FROM SALARIES AND OTHER COMPENSATION FOR PERSONAL SERVICES. (Se« 


Inatruction 1) 


1. Nw» .nd Addr™ J Empbytr or Nitm ol Incon 


1 Amount 


i. u|>ew> Oxiniu) 


4. Ainx 




$ 






J 
















■ 
















! 






Total column 2 minus tolal column 4 (enter as item 1. paRe 1) i $ 


..._. 



Schedule B.— INTEREST ON GOVERNMENT OBLIGATIONS. ETC. (See Instruct!. 









(a) Obligations of a State. Territory, or political •ubdi\ 
of G)lumbia. or United Statu possessioru 



1 thereof, or the Dist 



(i) Obligations issued under Federal Farm Loan Act. or ur.Jtr such Act a* amended. 

(c) Obligations of United States issued on or before September I. 1917. 

(</) Treajiijy Notts. Treasury Bills, and Treasury Certificates of Indebtedness 

(e) U. S. Savings Bonds and Treasury Bonds __ 

(/) Obligations of imtrumentatities of the United States (other than obltgationi to 
be reported in (A) above)... _. 



Total (enter total of colui 



Schedule C— INCOME FROM RENTS AND ROYALTIES. (See Instruction 8) 






1. Kind of Propcfty 


ia™„« 


3. DeprMi.lion (ExpUin . d,„:„ 


5. Other Eapense. 
(l«mk. bek») 


6. Net Pn6t (Enler 
..i.«oi.PMel> 




' 




$ ! ; 


% 


, 


























Explanation of cieductions 
ctaimecj in column 5 



Schedule P.— PROFIT (OR LOSS) FROM BUSINESS OR PROFESSION. (See In.truction 9) 



1. Total receipts (state nature of business 

COST OF GOODS SOLD 

2. Labor 



3. Material and supplies 

4. Merchandise bought (or sale 

5. OLSer cosU (itemize below).... 

6. Plus inventory at beginning of year. . 

7. Total (lines 2 to 6) 



6. Less inventory at end of yci 

9- Net cost of goods sold (lin 

line 8). _ _. 



OTHER BUSINESS DEDUCmONS 
10. Salaries not included as "Labor" (do not dedu. 



compensat 

11. Interest on b 

12. Taxes 

13. Losses 






r yourself)-. 

s indebtedness 

and property. 



(explain in Schedule C) 

and deplel 



14. Bad debts arising fr( 

15. Depreciation, obsole 

in Schedule E) 

16. Rent, repairs, and other expenses (it 

or on separate sheet) 



17. Total (lines 10 to 16).. 

18. Total deductions (line 9 plus 1 

19. Net profit (or loss) (line 1 mi 



\ line 18) (enter as item 9. page 1),. 



Explanation of deductions 
claiined on lines 5 and 16 . 



Schedule E.— EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED 


IN SCHEDULES C AND D 


). Kind of Property 

(If Bu.Mi-i5». State Material of 

Whieh Con»trucled) 


2. Date Ac- 
quired 


3. Cost or Other 
B..U 


4. A»:U Fully 
Depneiilnj \„ Ok 
U End ol Yeu 


S. DepKciation 
Allo<n<J(w 
Allowable) in 
Prior Yar. 


t. Rem.ining Co»t 
0, Other B..U to be 


7. Life U.eJ 

'hiiirpi' 


Rem™n, 
Ule From 


9. Dirpreciatian 

Afloxable Thi. 

Ye« 








$ — 






$ 








'- -- 











































208 



STATISTICS OF INCOME 



Schedule F.— GAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY. (See Instruction 10) 



1. RJa- 


Z D.I. 
AcquircJ 


3. D.le 
Sold or 
Eichuiced 

«.. Dn Y-,r 


Held 
<Ye.n. 
Mouli.) 


3. Cnm Sale* Price 
(Coi.tr.cl Price) 


7. E.pon.e o( S.le .nd *■ ('l"^;f"'°S|.)*' 'S'™' 
6. C«t 0, Other B..i. fTbUtiX^^ ^^ir""- " ^"'"' 
uon or Much 1. I«I3 (f^j^h JeuiU) 


9. CwiorLo. 


(a) 




$ 




1 J 


* 1 


$ 1 1$ 1 1$ 1 




(b) 












ill 1 i II II 1 




(c) 


De rpton 






ill 11 11 11 1 




(d) 












W 


De«,;pli.n 






III II 11 11 1 




(f) 


D.«:ri lion 






ill' 11 11 11 1 




(g) 


De«, > 






III II 1 II 1 




0>) 


Dereriplion 






ill 11 11 11 1 




(i) 


Den uon 






ill 11 11 11 1 




(J) 













Combine amounts in column 9 by groups according to time held, into totals; and enter same on line (w) of the summary table below. 
Indicate by G or L whether each entry is gain or loss. 



Period o( Time Held 


'— 


Over 1 Ye« But Not 
Over2Ye.n 


Cer 2 Yeu. But Not 
0>aSYe.r. 


Over 5 Ye.r. But Not 
Over 10 Year. 


Over 10 Yeu. 


ITEM <Z) 

Enter Below Net Appli. 
c.ble G.in or Lou Ob- 
t.ined by Combining 
the kemj on Lme (>> 


(w) Total gain or loss 


$ - 

100% 

$ - I-- 


J -- 

80% 
$- - 1 


$ 


$ 


$_ . 


(x) Percentage applicable 

(y) Gain or loss applicable 

(line (w) times line (x))_ 


60% 
$ 1 


40% 
$ 1 


30% 
$- 1 


$ - 1 



Enter item (z) as item 10 on page 1 : but if item (z) is a net loss, do not enter over $2,000. 



Give here descriptive details not shown above: 



State here whether any item above was (1) acquired other than by purchase, or (2) was sold or transferred to purchaser having relationship 
to you: _ 



Schedule G.— EXPLANATION OF DEDUCTIONS CLAIMED IN ITEMS 13, 14, 15. 16. 17. AND 18 



STATISTICS OF INCOME 



209 



Schtdule H.— NONTAXABLE INCOME OTHER THAN INTEREST REPORTED IN SCHEDULE B. (Sm In.truclion 12) 




1. Source of Incoac 2. Nuuie of Income 


3. AinuM 




$ 

























Schedule I.— EXPLANATION OF CREDITS CLAIMED IN ITEMS 22 AND 23. (See Instructions 22 and 23) 



<3) Peraonal Ex«nipt[ot\ 


(6) Credit for Depondonto 




Months During 

Vein ^ 

Eftch Sutdi 


Credit Ckimed 


N«me of Dependent oihI Relationship 


Number o( Monthi During 
theYcu 


Credit Cl.imed 




Under 16 
Yeu. Old 


Over 18 
Yeu.Old 


Single, or married and not living with hus- 




$ 








$ 




















Head of family (explain below) 
















Reason for credit 

Name of dependent 

and relationsliip 


















Reason for support 

if 18 years old or over 



Schedule J.— COMPUTATION OF EARNED INCOME CREDIT. (See Instructit 



(o) For Net Income of S3.000. or LeM 


(b) For Net Ir>come in Exceie of $3,000 


I. Net income (item 20, page 1) 

2 Earned income credit (10% of line 1 above) 


$ 


1. Earned net income (Not over $14,000) _... $ 












3. Earned income credit (10% of line 1 or 2. 
above, whichever amount is smaller, but 
do not enter less than $300) 





1. State your principal occupation or profession 

2. Check whether you are a citizen □ or resident alien Q 

3. If you filed a return for the preceding year, to which Collector's 

office was it sent? 

4. Are items of income or deductions of both husband and wife 

included in this return? (See Instruction B) 



QUESTIONS 

5. State name cf husband or wife if a separate return was made. 
2uid the Collector's office to which it was sent 



6. Check whether this return was prepared on the cash □ or 

accrual □ basis. 

7. Did you at any time during your taxable year own directly or indi- 

rectly any stock of a domestic or foreign personal holding 

company? (Answer "yes" or "no") If answer is 

"yes", attach schedule required by Instruction M. 



AFFIDAVIT. (See Inetruction F) 
1/we swear (or affirm) that this return (including any accompanying schedules and statements) has been examined by me/us, and to the 
best of my /our knowledge and belief is a true, correct, and complete return, made in good faith, for the taxable year stated, pursuant to the 
Revenue Acts of 1936 and 1937 and the regulations issued thereunder. 



Subscribed and sworn to by 

before me this day of . 



193.. 



If this is a joint return (not made by agent) it must be signed 
by both husband and v^ifc and sworn to before a proper officer by 
the epouse preparing the return, or if neither or both prepare the 
return then by both spojies. 



AFFIDAVIT. (See Instruction F) 

(If this return was prepared for you by some other person, the following affidavit must be executed) 
1/we swear (or affirm) that I/we prepared this return for the person or persons named herein and that the return (including any accom- 
panying schedules and statements) is a true, correct, and complete statement of all the information respecting the income-tax liability of the 
person or persons for whom this return has been prepared of which I /we have any knowledge. 



Subscribed and sworn to before me this day 

of _ , 193... 



fSign»iu 


lie of per»on prepfc»in« tbe re turn) 


(SiT-tu 


« at penon preparing the return) 


(Nur 


N «r Arm w cmploYcj. if any) 



210 



STATISTICS OF INCOME 



1937 



INSTRUCTIONS FOR FORM 1040 

UNITED STATES INDIVIDUAL INCOME TAX RETURN 



1937 



Taipayers will find it helpful to read General Instructions (A) to (M) before commencing to fill in their 
returns, and to read Specific Instructions in connection with filling in the item or items to which the; refer. 

GENERAL INSTRUCTIONS 



nd not lii 



(A) Who must use Form 1040.— All individuals, except nonresident 
aliens, required to make returns (1) whose net income, regardless of 
source, is more than $5,000, or (21 whose income, regardless of amount, 
includes any item other than salaries or other compensation for per- 
sonal services, dividends, and interest, or (3) who make returns on an 
accrual basis, or (4) who make returns for a fiscal year. 

All other individuals, except nonresident aliens, required to make 
returns shall use Form 1040A. Nonresident aliens are required to use 
Form 1040B or 1040NB. 

(B) Who must make a return. — Every citizen of the United States, 
whether residing at home or abroad, and every person residing in the 
United States though nnt a citizen thereof, whc 
the taxable year is $5,000 or over, or whose net 

(a) $1,000 or over, if single or if marri. 

husband or wife; 

(6) $2,500 or over, if married and living with husband or wife; or 

(c) Equal to or more than the personal exemption allowable if 

taxpayer was married and b'ving with husband or wife 

during only part of the taxable year. 

If the combined net income of husband and wife is $2,500 or over. 

or if their combined gross income is $5,000 or over, including in each 

case the earnings of minor children, if their parents have the legal 

right to the same, all such income must be reported in a joint return, 

or in separate returns of husband and wife. In the absence of proof 

to the contrary, a parent will be presumed to have the legal right to 

the earnings of a minor and must include such earnings in his return. 

In order for a joint return to be filed by a husband and wife, both 

must have had some income or deductions iti the year for which the 

return is filed and the return must include the income and deductions 

of both. A joint return of husband and wife may be filed only if 

they were living together at the close of their taxable year. 

(C) Returns of income of decedents. — If the net income of a de- 
cedent to the date of his death was $1,000 or over, if unmarried, or 
equal to or in excess of the credit allowed him by section 25(b) (1) and 
(3) of the Revenue Act of 1936 fcomputed without regard to his 
status as the head of a family), if married and living with spouse, or 
if his gross income for the period was $5,000 or over, the executor or 
administrator shall make a return for him on Form 1040 or 1040A. 
The return for a decedent shall include all items of income and deduc- 
tions accrued up to the date of death regardless of the fact that the 
decedent may have kept his books on a cash basis "or kept no book,s. 

Returns of income of estates and trusts must be made on Form 1041, 

(D) Period to be covered by return. — Calendar year 1937 or fiscal 
year beginning in 1937 and ended in 1938. 

The established accounting period must be adhered to for all years, 
unless permission is received from the Commissioner to make a 
change. An application for a change in the accounting period shall 
be jnade on Form 1128 and forwarded to the collector prior to the 
expiration of 30 days from the close of the proposed taxable year. 

(E) When and where the return must be filed.— On or before the 
!5th day of the third month following the close of your taxable year 
with the collector of internal revenue for the district in which you 
live or have your principal place of business. In case you have no 
legal residence or place of business in the United States, the return 
should be forwarded to Collector of Internal Revenue. Baltimore, Md. 

Your home or residential address should be given in the space pro- 
vided at the top of the first page of the return. If you have a perma- 
nent business address, that address may be given as the principal or 
mailing address, provided that the compiete home or residential 
address is also given. 

(F) Affidavits.— The afUdavit must be executed by the person 
whose income is reported or by his legal representative or agent. The 
return may be made by an agent (1) If, by reason of illness, the person 
liable for the making of the return is unable to make it, or (2) if the 
taxpayer is unable to make the return by reason of continuous absence 
from the United States for a period of at least 60 days prior to the date 
prescribed by law for making the return. Whenever a return is made 
by an agent it must be accompanied by a power of attorney on Form 
935, or, in the case of husband and wife, on Form 936 (copies of which 
may be obtained from the collector of internal revenue). 

Where the return is actually prepared by some person or persons 
other than the taxpayer, such person or persons must execute the 
affidavit at the foot of page 4 of the return. 

The oath will be administered without charge by any collector, 
deputy collector, or internal revenue agent. If an internal revenue 
officer is not available, the return should be sworn to before a notary 
public, or other person authorized to Administer oaths, except an 
attorney or agent employed to represent the taxpayer before the 
Department in connection with his tax liability. 

(G) When and to whom the tax must be paid. — The tax must be 
paid in full when the return is filed, or in four equal inBtallraenta, as 



follows; On or before the 15th dav of the third month, on or before 
the 15th day of the sixth month, on or before the 15th day of the ninth 
month, and on or before the 15tli day of the twelfth month, from the 
close of the taxable year. If any installment is not paid on the date 
fixed for payment, the whole amount of tax unpaid shall be paid upon 
notice and demand by the collector. 

The tax may be paid by sending or bringing with the return a check 
or money order drawn to the order of "Collector of Internal Revenue." 
Do not send cash by mail, nor pay it in person except at the collector's 

(Hj Penalties. — The law imposes severe penalties for failing to 
make a return or for making a false or fraudulent return. Penalties 
are also imposed for failing to file a return on time. 

(I) Received or accrued income. — If your books of account are 
kept on the accrual basis, report all income accrued, even though it 
has not been actually received or entered on the books, and expenses 
incurred instead of expenses paid. As to disallowance of deductions 
for unpaid expenses and interest due to certain persons, see Specific 
Instruction 14. If your books are not kept on the accrual basis, or if 
you kept no books, make your return on a cash basis and report all 
income received or constructively received, such as bank intere,>*t 
credited to your account and coupon bond interest matured, and report 
expenses actually paid. 

(J) Items exenrpl from tax. — All \lems of income receivfd and claimed 
to be exempt from tax should be explained in Schedule H, except non- 
taxable uitcrest to be reported in Schedule B- 

The following items are exempt from Federal income tax, except 
where otherwise indicated, and should not be included in gross income: 
suraDc* coQlract paid by reas"iD of thi- d.:aih ol the 



ingl.- 



t such amounts are held by thi* 
rest paynieDts shall he iDeludcd li 

ion or the death of the insured an' 
nts received as annultie>i 1 uoder i 



icQuired by beqi 
(d) Interest up< 



ot paid during the taxable year) then tb« excess shall be.lnolud< 

i^lved as a coosideration for service rendered) and r 
?st. devise, or inheritaace (but the income derive. 1 
I be reported); 



, Territory, 



led), 



s of tbc Federal Farm Loan .Kvi or under such 

• Federal Fann Loan .' 



3 of the United ?ti 



r than obllgatioos i: 



>c'.ss of S5.00< 
a obligations issued 



Vderal Farm Mortgage Corporation bonds. 

The interest on United Stales Savin 

, nod on obllgatlsns^of iostrumenutittes of tl 



; subject t 
] Scbedult; 1 



9ucb ii 



Corporal 

■ 1 i'vc'.ss 0IS5.1W0. and on t_,.„ ._ 

' Federal Farm Loan Act or under such i 

1 Specific In 

' personal Inju 

(/) The rental value of a dwelling house and appurtoiancvs thereof furnishwl t 
if the gospel as pan of his compensation; 

I CompeosaUon paid by a State or political subdivision thereof t 



I Amounts r 



damages r 



ived through accident < 
ompensation 
lelher by a 



health 1 



t should b 



ployees ft 
(A) Pensions a 



s rendered if such 
Tipensatioa re( 



Ibyv 






npt from Federal 
e United States and pensJons 



erly allocably to or char^r. iM. u- ,:\.-,\ i,. ri'uount so eitcluded from his gross Income 

(K) Treatment of depreciation and depletion. — A reasonable allow- 
ance for the exhaustion, wear or tear, and obsolescence of property 
used in the trade or business may be deducted. All deductions for 
depreciation r?iust be explained in Schedule E. If obsolescence is 
claimed, explain why the useful life is less than the actual life. 

The amount of depreciation on property acquired by purchase 
should be determined upon the basis of the original cost (not replace- 
ment cost) of the property and the probable number of years remaining 
of its expected useful life, except if the property was purchased prior 
to March 1, 1913, it Vill be computed on the fair market value of such 
property as of that date or its original cost (less depreciation actually 
sustained before that date), whichever is greater. If the property 
was acquired in anv other manner than by purchase, see section 114 
of the Revenue Act of 1936. 

See sections 23(ra) and 1 14 of the Re 
tions 94 with respect to additional forr 
a deduction is claimed f<ir depletion. 

(L) Information al source. — Every person making payments of 
salaries, wages, interest, rents, cominissions, or other fixed or deter- 
minable income of $1,000 or more during the calendar year 1937, to a 
single person, a partnership, or a fiduciary, or .$2,500 or more to a 
married person, is required to make a return on Forms 1096 and 1099 
showing the amount of such payments and the name and address of 



STATISTICS OF INCOME 



211 



Psge2 

each recipient. Thcf^e forms will be furnished by any collector of 
internal revenue upon request and must be forwarded to the Commis- 
8ioner of Internal Revenue, Sorting Section, Washington, X>. C, in 
time to be received not later than February 15, 1938. 

(M) Stock owned in domestic and foreign personal holding com- 
panies. — If at any time duriiiR your taxable year you owned directly 
or indirectly any stock of a domestic or foreigrj personal holding com- 
pany, attach to your return a statement setting forth the name and 
address of each such company and the highest percentage of the total 
number of shares of each class of outstanding btock owhed by you 



during the taxable year If you owned stock at any time during the 
taxable vear in a foreign personal holdiDg company ae defined in 
section 331 of the Revenue Act of 1936, as amended by the Revenue 
Act of 1937, you must include in your return aa a dividend the amount 
required to be included in vour gross income bv section 337 of the 
Revenue Act of 1936, as amended by the Revenue Act of 1937. If 
you owned 5 percent or more in value of the outstanding stock of 
such foreign personal holding company, set forth in an attached state- 
ment in complete detail the information required by section 337 (d) 
of the Revenue Act of 1936, as amended bv the Revenue Act of 1937. 



SPECIFIC INSTRUCTIONS 



The following inrtructions are numbered to correspond with item 
numbers on page 1 of return: 

1. Income from salaries and other compensation for personal serv- 
ices. — Any amount claimed as a deduction for ordinary and necessary 
expenses against salaries, etc., such as traveling expenses while away 
from home in connection with your occupation, should be fully ex- 
plained in Schedule A or in an attached statement. Traveling expen- 
ses ordinarily include expenditures for transportation, meals, and lodg- 
ing. The expenses of a commuter in traveling to and from work are 
jiot deductible. 

If a joint return, enter as separate items in Schedule A earnings of 
each spouse. Earnings of minor children should also be entered in 
Schedule A, if parent is legally entitled to such earnings. 

5. Interest on Government obligations, etc. — Interest on an aggregate 
of not exceeding $5,000 principal amount of the obligations enumer- 
ated on line (e), Schedule B, is exempt from the surtaxes imposed by 
section 12 of the Revenue Act of 1936. Enter in column 4, line (e), 
interest received from such obligations in an amount not exceeding the 
interest received or accrued on an aggregate principal of $5,000 of 
such obligations. If at times during the taxable >'ear you held more 
than $5,000 principal in the aggregate of such obligations, enter in 
column 5. line (c), the interest received or accrued in excess of interest 
on an aggregate of $5,000 principal amount of such obligations. 

Interest coupons falling due within the taxable year will be con- 
sidered as income for such year where the books are kept on a cash 
basis. If the books are kept on an accrual basis, report the actual 
amount of interest accrued on the obligations owned during the tax- 
able year. (See also General Instruction (J), paragraph (rf).) 

6, 7. Income from partnerships, syndicates, pools, etc., and fidu- 
ciaries. — Enter as item 6 your share of the profits (whether received or 
not) or of the losses of a partnership (including a syndicate, pool, etc., 
not taxable as a corporation), and as item 7 income from an estate or 
trust. Include in items 31 and 32. respectively, your share of credits 
claimed for Federal income tax paid at source, and foreign income and 
profits taxes. 

If the taxable year on the basis of which you file your return does not 
coincide with the annual accounting period of the partnership or fidu- 
ciary, you should include in your return your distributive share of the 
net profits for such accounting period ending within vour taxable vear. 

8. Income from rents and royalties.— Fill in Schedule C giving the 
information requested. 

If you received property or crops in lieu of cash rent*, report the in- 
come as though the rent had been received in cash. Crops received as 
rent on a crop-share basis should be reported as income for the year in 
which disposed of (unless your return is on the accrual basis). 

9. Profit (or loss) from business or profession.— If you owned a 
business, or practiced a profession on your own account, fill in Schedule 
1) of the return, and enter the net profit (or loss) as item 9 of the return. 

Farmer's income schedule. — If you are a farmer and keep no books 
of account, nr keep books on a cash basis, oljtain from the collector, 
and attach to this return. Form 1040F. .schedule of Farm Income and 
Expenses, and enter the net farm income as item 9 of this return. If 
vour farm books of account are kept on an accrual basis, the filing of 
Vorm 1040F is optional. 

Installmenl salen —If the installment method is used, attach to the 
return a schedule showing separatelv for the vears 1934. :93o, 1936. 
lind 1937 the following: (a) Gross sales; (*) cost of goods sold; (r) 
gross profits; (d) percentage of profit-s to gross sales; (t) amount 
collected; and (f) gross profit on amovmt collected. (See section 44 of 
the Revenue Act of 1936.) 

Invtnifirif<^. — If engaged in a trade or business in which the produc- 
tion, manufacture, purchase and sale of merchandise is an income- 
producing factor, inventories of merchandise on hand should be taken 
at the beginning and end of the taxable year, which may be valued at 
(a) cost, or (6) cost or market, whichever is lower. Taxpayers were 
given an option to adopt the basis of either (a) cost, or (h) cost or 
market, whichever is lower, for their 1920 inventories. The basis 
properly adopted for that year or any subsequent year is controlling 
and a change can now be made only after permission is secured from 
the Commissioner. Application for permission to change the basis of 
valuing inventories shall be made in writing and filed with the Com- 
missioner within 90 days after the beginning of the taxable year in 
which it is desired to make the change. 

Salaries. — Do not include compensation for services of yourself, your 
dependent minor children (if you are legally entitlod-to their earni'ngei 
or of husband or wife if a joint return is filed, which items are not 
deductible. 

Interest. — Enter on line 11 interest on business indebtedness. Do 
not include interest to yourself on capital invested in or advanced to 



the business. As to limitations on deductions for unpaid expenses and 
interest to certain persons, see Specific Instruction 14. 

Taxes. — Enter on line 12 taxes on business property or for carrying 
on business. (Sc" :3pecific Instruction 15.) 

Losses. — Enter on line 13 losses incurred in the trade or business, if 
not compensated for by insurance or otherwise. (See also Specific 
Instruction 16.) Losses from sale or exchange of capital assets should 
be entered in Schedule F and item 10 of the return. 

Bad debts. — Bad debts may be treated in either of two ways — (I) by 
a deduction from income in respect of debts ascertained to be worthless 
in whole or in part, or (2) by a deduction from income of a reasonable 
addition to a reserve for bad debts. 

Taxpayers were given an option for 1921 to select either of these 
methods and the method used in the return for the year 1921 must be 
used in returns for all subsequent years unless permission is granted 
by the Commissioner to change to the other method. Application 
for permission to change the method shall be made in writing at 
least 30 days prior to the close of the taxable year for which it is 
desired to effect the change. 

A taxpayer filing a first return of income may select either of the two 
methods mentioned above subject to approval by the Commissioner 
upon examination of the return. If the method select<;d is approved, it 
must be followed in returns for subsequent years, except as permission 
may be granted by the Commissioner to change to the other method. 

If the reserve method is used, you should attach to your return the 
statement required by article 23 (k)-5 of Regulations 94. 

Debts arising from sales or services are not deductible unless the 
original amount has been reported as income. Bonds ascertained to 
be worthless are to be treated as bad debts. 

A debt previously charged off, allowed as a deduction, and sub- 
sequently collected must be returned as income for the year in which 
collected. 

Rents, repairs, and other expenses. — Do not include rent for a dwell- 
ing occupied by you for residential purposes, the cost of business 
equipment or furniture, expenditures for replacements or permanent 
improvements to property, nor personal, living, or family expenses. 

10. Gains and losses from sales of property.- — ^Report sales or ex- 
changes of capital assets in Schedule F and enter the net amount of 
gain or loss to be taki_Ti into account in computing net income as item 
10. (Capital losses are allowable only to the extent of $2,000 plus 
capital gains. Therefore, if the total amou.'^t of capital losses is in 
excess of the total amount of capital gains, the amount to be entered 
as item 10 must not exceed $2,000.) Every sale or exchange of 
property, even though no gain or loss may be indicated, must be 
reported in detail. 

Enter full description of each item of property sold or exchanged. 
Such description should include the following facts: (a) For real 
estate, location and description of land, description of improvements, 
details explaining depreciation (column 8 of Schedule F); (6) for 
bonds or other evidences of indebtedness, name of issuing corporation, 
description of the particular issue, denomination, and amount; (c) for 
stocks, name of corporation, class of stock, number of shares, capital 
changes affecting basis (nontaxable stock dividends, other nontax- 
able dividends, stock rights, etc.). 

The "basis" for the property is not subject to the same rule for 
reporting gains as for losses, if the property was acquired tiefore 
March I, 1913. If the property sold or exchanged was acquired prior 
to March 1, 1913, the basis for determining GAIN is the cost or the fair 
market value as of March 1, 1913. adjusted as provided in section 
113(b) of the Revenue Act of 1936, whichever is greater, but in deter- 
mining LOSS the basis is cost so adjusted. (See section 113 of the 
Revenue Act of 1936.) If property was acquired after March I, 1913, 
basis for both gain and loss is the cost of such property, except as 
otherwise provided by section 113, Revenue Act of 1936. The excep- 
tions arise chiefly where property was acquired by gift, bequest, tax- 
free exchange, involuntary conversion, wash sale of stock; and in such 
cases section 113 provides the basis that shall be used. If the amount 
shown as the basis is other than actual cash cost of the property sold 
or exchanged, full details must be furnished regarding the acquisition 
of the property. 

Enter in colvmm 8 of Schedule F the amount of depreciation, exhaus- 
tion, wear and tear, obsolescence, or depletion which has been allowed 
(but not less than the amount allowable) in respect of such property 
since date of acquisition, or since March 1. 1913, if the property was 
acquired before that date. In addition, if the property was acquired 
before March 1, 1913. the cost shall be reduced by the depreciation 
actually sustaioed before that date. 

Subsequent improvements include exjienditures for additions, im- 
provements, and renewals and replacements made to restore the prop- 
erty or prolong its useful life. Do not deduct ordinary repairs, interest, 
or taxes in computing gain or loss. 



212 



STATISTICS OF INCOME 



Lout» oof aliowabU.—Uo loss shfttl 
entered L 

direct! J" or indirectly, (A) I 



e recofEnlied li 

jlred subs'_ 

e substantially identical stocli 






Euch indi 

t and a beneRciary of 
g this paraKrai 
t owned, directly 



In liQuidatlo 
■tlyorlndlre 



ock or seourltles or 
or securities wttblo 
ngaged Intbe trsde 

ipecl of losses from sales or eichanges o( property, 
lvr« nf n fninllv. OS hereinafter defined, or ( B) except 
and B corporation in which 

e outstanding 

fiduciary of a 



the period for whi 



(4> In 
sltloQ or 
(under ?< 

positioo of substantially 



e hpid the rtock or securities In tbi 
s upon such distribution. 
■ ' -hich the taxpayer has I 
tlon to acquire which) 



Page 3 

distributing corporation prior to the 
sectultles the aoqul- 



I, relating to wash sales) of the \i 



>sulted In the nondeductlbUlty 
I of IKSorthe Revei " " * 






e than 50 percent I] 



e purpose of 
Indirectly, by 



corporal ic 



e the ownership o 

. partnership, estate, < 



(C) bet' 
. a benefl 
applying this parajrraph— 

being owned proportionately by or (or its shareholders, partners, Mies or enchaoges of «Pi.'^ 

"(6) An individual sball be considered as owning the stock owned, directly or indirectly, 

corporation (otherwise than by the application of 



e shall b« Included t 
the stock or securities the loss from the sale or other disposition of « 

from sales or exchanges of capital a; 



a the sale or other d 



of $2,000 plus the gain! 



f shall be considered as gains o 






<t exchanges of capit 



paragraph i 
(d) The fa 



) shall De considered a 



I, directly 



indirectly, 

a individual shall include only bis brothers and sisters twbether by the 
wiivii V '«•■■ «.-■ "-/ spouse, ancestors, and lineal descendants 
(See section 24 (b) oUhe Revenue Act of 1936. as amended by the Revenue Art o( 1937 ) 
Section 1 17 of the Revenue Act of 1936 relatinjiE to capital gains and 
losses provides in part as follows: 

(ft) Dtpnition o/capifoi oisrts — For the purposes of 
erty held by the taxpayer (whether or not connected s , . , ^ ,. v 
include stock in tr».ie of the taxpayer or other propertyof a kind which w_^ould 
included 



(/) ftelirtmeni of bi 
issued by a 






-For the purposes 

eluding those issued by 






leld tor 
Ivcd by the holder 



r business), but does 



e of the taxable 



payer primarily for sale to customers in the ordinary 

Ic) Determination of period for vMch held ^ToT the purpose of • 

(1) In determining the period (or which the taxpayer has he 
exchange there shall be included the period for which be held 
under the provisions o( section 113, the property received has, for 
gain or loss from a sale or exchange, the same basis in whole or in p 
erty exchanged. ,. ,_ ^ ^ ,. u 

(2) In determining the period for which the taxpayer has held 
there shall be Included the period for which — *• "■ ' 

9 of section 113. 



« of bis trade o 






l.suchpruperty 
e basis ' ^ 






Pe" 
the purpose of drtermining 



g the period f 
sectron ri2(g) of the Revenue Act 



upon a distribution v 



r which the taxpayer has held stock o 
was recognlied to the distribuli 
jI 1928 or the Revenue Act of IK 

Schedule F.- 



idences of indebted- 
poratlon (including those issued by a government or political subdi- 
vision thereof), with interest coupons or m registered form, shall be considered as amounts 
received in exchange therefor. 

One hundred percent of the gain resulting to the distributee from 

distributions in liquidation of a corporation shall be taken into account 

in computing net income, except in the case of amounts distributed in 

prop- complete liquidation of a corporation. (See section 115(c) of the 

Revenue Act of 193C.) 

Section 117 applies only to gains and losses upon the sale or exchange 
of capital assets and, therefore, has no application to loss of useful 
value upon the permanent abandonment of the use of property or loss 
sustained as the result of corporate stock or debts becoming worthless. 

In the application of section 117 a husband and wife, regardless of 
whether a joint return or separate returns are made, are considered to 
be separate taxpayers. Accordingly, the limitation under section 
1 17(d) on the allowance of losses of one spouse from sales or exchanges 
of capital assets is in all cases to be computed without regard to gaios 
and losses of the other spouse upon»sales or exchanges of capital nssets 
In the case of a joint return of a husband and wife, capital transactions 
of each should be reported in separate schedules. 

Example of Schedule F compui&tion: 
and Losses From Sales or Exchanges of Property. 



1(a)- 



r person, if 



would have 
received 



1. Refer- 
ence Letter 


2. Dale Ac- 
quired 
Mo. Dat Yatr 


3. DBte Sold 
or Exchanged 
Mo. Don Ytar 


4. Time Held 
MoDths) 


5. Gross Sales Price 
(CoDtrftct Price) 


6, Cost or Other Basis 


m?nt°s "u'bsl^ 
quent to Acquisi- 
tion or .March' 1, 


B. Depreciation Al- 
lowed (or Allow- 
ahlc) Since Ac- 
March I. 1913 
(Furnish detHlts) 


9 Gain or Loss 


(0) 


Descriptioc 


: X Corp., com. etk., cl. B, 500 sh. 














2/8/37 


10/21/37 1 8 mos. | $32, 437 I 50 | $29. 125 


00 


$87 50 


s i 


G $3,225 


00 


(6) 


Descriptior 


: Y Corp., geD. 58, 1948 bonds, 2 $1,000 bonds, gr. sales 


and cost excl. accrued int. 








11/23/36 
Descriptior 


11/3/37 1 11 mos. 1 1,992 I 50 1 2,002 


W 


5 1 00 


1 


L 15 


00 


ic) 


: See below. 














7/2/28 


9/2/37 Uyrs. 2mo8.| 10, 360 1 00 | 10.839 


05 


500 1 00 


2,837 1 64 


G 1, 858 


59 


(fl 


Descriptio 


: See below. 














8/4/25 


1/6/37 111 yrs. 5 mos.l 8,175 150 1 8.364 


58 


20 1 00 


1 


L 209 


08 



Combine amounts in column 9 by groups according to time held into totals and enter same on line {w 
cate by G or L whether each entry is gain or loss. 


of the summary table below. Indi- 


Period of Time Held 


1 Year or Less 


Over 1 Year but not 
Over 2 Years 


Over 2 Years but not 
Over 5 Years 


Over 5 Years hut not 


Over 10 Years 


ITEM (Z) 


{w) Total gain or loss from 


G $3,210 1 00 

100% 
G $3,210 1 00 


$ 1 


$ 1 


G $1,858 1 59 

40% 
G $743 1 44 


L $209 1 08 

30% 
L $62 1 72 


pllcable Oaln or Loss 
Obtained by Com. 


(i) Percentage applicable.... 

(y) Gain or loss applicable 

(line(u') times line (z)) 


80% 

s 1 


60% 
$ 1 


bining the Items OQ 
Line (») 

G $3,890 i 72 



Enter item (z) as item 10 on page 1 ; but if item (z) is a net loss, do not enter c 



Give here descriptive details not shown above: (c) Lot 11. Queen Street,. Madison, Mass., cost $3,100, frame double dwellinK. cost $7,739.05, 
depreciation at 4 percent on cost of house $2,837.64. Sales commissions $500. (d) Z Corp., com. stock, 100 sh., originally 90 sh. 20 percent 
nontaxable st. div., 1/10/29, of which 8 new sh. sold 1/30/29, basis above is 100/108 of original cost of 90 old sh., which was $9,033.75. 



U. Other income. — If you had any taxable income, space for report- 
ing which is not provided elsewhere on the return, enter it as item 11, 
and explain its nature, using a separate sheet if necessary for that 
purpose. Include in this item taxable annuities and insurance pro- 
^Ceeds. Amounts received as an annuity under an annuity or endow- 
ment contract shall be included in gross income to the extent of 3 
peVcent of the aggretcate premiums or consideration paid for such 
annuity. If the aggregate of the amounts received and excluded from 
gross income in years previous to the taxable year equals the aggre- 
gate premiums or consideration paid for such annuity, the entire 
amount received must be included in gross income. (Section 22(b) 
(2) of the Revenue Act of 1936.) 

Amounts received during the taxable year under a life insurance or 
endowment policy (other than amounts paid by reason of the death of 
the insured, interest payments on such amounts, and amounts received . 
as annuities) shall be included in gross income if the amounts so 
received (when added to the amounts received before the taxable year 
uoder such policy) exceed the total premiums or consideration paid. 



12. Total income. — Enter and explain tJi Schedule H all income (except 
terest) claimed as exempt, but do not include as part of item 12. 

13. Contributions. — Enter as item 13 contributions or gifts made 
ithin the taxable year to or for the use of — 

United States, aoy State, Territory, or any political subdivisioo thereof, or tbe 
Colunibia, for exclusively public purposes, 
b] A corporation, or trust, or commur\ity chest, fund, or foundation. ontaniu>d and 
■ ■ ■ ' - religious, charitable, scientific, llterarj*, or educational purposes. 

lolder or indiviiluat. and no substantial part ol 

ipagaoda, or otherwise attempting, to InSueDce 

legislation: 



District of Columbi 

(b] A < 
operated 
or for tbt . . 
inures to the t>eneflt 



of cruelly t 
of which is carrying c 



<rf) Posts o 

States or any of its p< 
any private sharebold 



sof !■ 



of tho World 

?. or auxiliary units or societies of any such posts 

;>art of their net earnings inures tu tbe t>eneQt o( 

ion, operating under the lodee system, but only 
■d eiclusively for religtous, cbaritablc, scleuttflc, 
e prevention '~.f crutilty lo children or animals. 



STATISTICS OF INCOME 



213 



Page 4 

The amount claimed shall not exceed 15 percent of your net i 
computed without the bene6t of this deduction. 

14. Interest. — Enter aa item 14 interest on persona! indebtedness 
&s distinguished from business indebtedness (which should be 
deducted under Schedules C and D). Do not include interest on 
indebtedness incurred or continued to purchase or carry obligations 
{other than obligations of the United States issued after Sept. 24, 1917, 
and originally subscribed for by the taxpayer) the interest upon which 
is wholly exempt from taxation. Any deductions on account of in 
should be explained and itemized in Schedule G. 

Attention is called to the following limitations on deductiot 
unpaid expenses and interest provided in section 24(c), Reveuu 
of 1936, as amended by the Revenue Act of T 



unt of interest 



: Act 



allowed ka respect of rip«Qses tocurred under S' 



M(b)- 



3 23(a) 



DO deductinn sball b« 
I accrued under section 



(I) If not paid within l 



s paid, includible in the g 



J persons between whom 
-Enter as item 15 1,& 



e uiable year of tbe taxpayer ends; 



wed under section 21 (b). 



be made 

15. Taies. — Enter as item 15 ^axes imposed upon you and paid 
or accrued during the taxable year, not including taxes on property 
used in your business or profession and those assessed against local 
benefits of a kind tending to increase the value of the property assessed. 
Do not include Federal income taxes, nor estate, inheritance, legacy, 
succession, gift taxes, taxes imposed upon your interest aa shareholder 
of a corporation which are paid by the corporation without reim- 
bursement from you, nor income taxes claimed as a credit in item 32. 
Dp not include sales taxes unless the tax was imposed directly upon 
you by law. No deduction is allowable for any portion of foreign 
income and profits taxes if a credit is claimed in item 32. 

Any deduction on account of taxes should be explained and itemized 
in Schedule G. 

16. Losses J>y fire, storm, etc. — Enter n 
not connected with your business, or prof, 
year, if arising from fire, storm, shipwreck 
theft, and if not compensated for by in: 

Explain and itemize losses claimed in Schedule G, setting foith a 
description of the property, date ac<iuired, cost, subsequent improve- 
ments, depreciation allowable since acquisition, insurance, salvage 
value, and deductible loss. 

17. Bad debts. — Enter as item 17 all bad debts other than those 
claimed aa a deduction in Schedule D. Bonds ascertained to be worth- 
less are to be treated as bad debts. State in Schedule G (a) of what 
the debts consisted, (b) name and family relationship, if any, of the 
debtor, (c) when they were created, (d) when they became due, (e) 

• ere actually 



torn 16 losses of property 
ion, sustained during the 
)r other casualty, or from 
otherwii 



-Enter as item 18 any other 
space is provided on the returr 
1 transactions which were neither 
entered into for profit. 



Do not 

snnected 

i from 



IS. Other deductions. 

deductions for which nc 
deduct losses incurred ii 
with your trade or busir 

gambling transactions are allowable only to the extent of the gain 
derived by you from such transactions. Stock which became worth- 
less during the taxable year should be included among other deduc- 
tions in item 18^ Any deduction claimed should be explained in 
Schedule G. 

In case you incurred expenses in connection with exempt income 
or owned anv property the income from which is exempt, see section 
24(a) (5) of the Revenue Act of 1936 atld article 24-4 of Regulations 
94. 



mption and dependents. — Enter in 
plained in Schedule I. A single 
band or wife, is entitled 
who, during the entire 
married and living with 
of $2,500. If husband 
be taken 



22, 23. Credit for personal 

items 22 and 23 the amoun 

persori, or a married person not living with hi 

to a personal exemption of SI, 000. A per 

taxable year, was the head of a family or v 

husband" or wife, is entitled to an exempti 

and wife file separate returns, the personal exempti 

by either or divided between them. 

A "head of a family" is an individual who actually supports, and 
maintains in one household one or more individuals who are closely 
connected with him by blood relationship, relationship by marriage, 
or by adoption, and whose right to exercise family control and pro- 
vide for these dependent individuals is based upon some moral or legal 
obligation. 

In addition to the personal exemption, a credit of S400 may be claimed 
for pAch person (other Phan husband or wife) under 18 years of age, or 
incapable of self-support because mentally or physically defective, who 
received his or her chief support from the taxpayer. This credit may 
be allowed only to the person who furnishes the chief support, and may 
not be divided between two indiNiduals. 

If the status of the taxpayer, insofar as it affects the personal exemp- 
tion or credit for dependents, changes during the taxable year, the 
personal exemption and credit shall be apportioned in accordance with 
the number of months before and after such change. For the purpose 
of such apportionment a fractional part of a month shall be disregarded 
unless it amounts to more than half a month, in which case it shall be 
considered as a month. For example, it a child became 18 years of 



unt of earned 



age on June 16, 1937, the taxpayer will be allowed a credit of $200 

for such dependent. 

26. Earned income credit^— Enter as item 26 the i 
income credit computed in Schedule J. 

"Earned income" means wages, salaries, profe; 
other amounts received as compensation for personal i 
rendered, but does not include any amount not included in gross in- 
come, nor that part of the compensation derived by the taxpayer" 
for personal services rendered by him to a corporation which repre- 
sents a distribution of earnings or profits rather than a reasonable 
allowance as compensation for the personal services actually rendered. 
In the case of a taxpayer engaged in a trade or business in which both 
personal services and capital are material Income-producing factors, a 
reasonable allowance as compensation for the personal services actually 
rendered by the taxpayer, not in excess of 20 percent of his share of the 
net profits of such trade or business, shall be considered as earned 
income. "Earned income deductions" means such deductions as are 
allowable by section 23 of the Revenue Act of 1936, as amended by 
the Revenue Act of 1937, for the purposes of compnting net income, 
and are properly allocable to or chargeable againrst earned income. 
"Earned net income" means the excess of the amount of the earned 
income over the sum of the earned income deductions. The earned 
income credit allowable to each spouse in a joint return is the same as 
is allowable to each spouse in separate returns; however, the earned 
income, earned income deductions, earned net income, and net in- 
come of each spouse must be shown separately. 

Example of Schedule J computation. — Husband and. wife make a joint 
return. Husband has a salarv, after expenses allowable, of $8,560.50. 
His item 1 on face of return will show $8,560.50. His other sources of 
income, and his deductions allowable, bring his net income (itam 20) 
to $11,280.12. His computation of earned iocbme is as follows; 
(b) For net income in excess of $3,000 

I. Earned net income (but do not enter more than 

$14,000) $8, 560. 50 



(item 20, page 1) $11, 280. 12 



2. Net 

Earned income credit (10 percent of line 1 or 2 
above, whichever is smaller, but do not enter less 

than $300) $856. 05 

As this is a joint return for husband and wife, they show their va- 
rious items of income and deduction separately in the return. The 
wife has salary, .and no allowable expenses connected therewith, of 
$1,240; and her income from dividends and other sources, after allow- 
ance for her deductions, brings her net income to 82,320. Her compu- 
tation of earned income is as follows: 

(a) For net income of $3,000, or less 
Net income (item 20, page 1) $2. 320. 00 



Earned income credit (10 percent of item 20) $232. 00 

Item ^6 on the face of their joint return will therefore show $1,088.05. 
29. Surtax. — Tlie surtax on any amount of surtax net income (item 
24) not stated in round figures in the table below is computed by 
adding to the surtax for the largest amount stated which is less than 
the income, the surtax upon the excess over that amount at the rate 
indicated in the table. For example, if item 24 is $9,261.84, the 
surtax (item 29) is $255.71 (i. e., $180, the surtax on $8,000, plus 
$75.71—6 percent of $1,261.84). 

SURTAX RATES 



Amount or suttax net 


Rate 


sT;;si 


Amount of surtax net 
Income 


Rate 


Total 


A 


B 


c 


A 


B 


C 








S«2.000tO S68.000 

68,000 10 71,000 

74.01X1 to 80,1100 

80,000 to 00.000 

90,000 to 100.000 

100.000 to 150,000 

i.w.oonto 200.000 

3oo!oooio woioooT!!!! 
;5o!oooioi,ooo!ooo'!;!" 

1.000.000 10 2,000.000 

2.000.000 to 5 000,000 


39 

58 
60 

72 
73 








S90 

600 
l.OOO 

3.380 




























































.■ifl.noO 10 62.000 







31. Income tax paid at the source. — Enter as item 31, 2 percent of 
interest on bonds on which a Federal income tax was paid at the 
source by the debtor corporation. 

32. Income tax paid lo a foreign country or Uniled States posses- 
sion.— If, in accordance with section 131(a) of the Revenue Act of 
1936. a credit is claimed in item 32 for income, war-profits, and 
excess-profits taxes paid to a foreign country or a possession of the 
United States, submit Form 1116 with your return with the receipU 
for such payments. In case credit is sought fur taxes accrued, the 
form must have attached to it a certified copy of the return on which 
the tax was based, and the Commissioner may require a bond on 
Form 1117 for the payment of any tax found due if the tax when paid 
differs from the credit claimed. 



214 



STATISTICS OF INCOME 



UNITED STATES 



1937 FIDUCIARY INCOME TAX RETURN 1937 

(FOR ESTATES AND TRUSTS) 

Treasury Department (FORM 1041) Internal Revenue Service 

For Calendar Year 1937 or Fiscal Year 

beginning _ , 1937, and ended -* 1938 



Q Dol t«l«r than the 15tb A»j o( the t}urd nvrnth foUowing the dote of the tuWble year 



(PRINT NAMES A 



Name of 
Estate or Trust . 



Name and 
Address of 
Hduciaiy 






FIRST PAYMENT 



::s:^N^ income 

, Dividends from domestic and foreign corporations _ 

, Interest on bank deposits, notes, corporation bonds, etc. (except interest to be reported in item 3).. 



, Interest on tax-frc 
, Taxable interest o 
.Income (or loss) f. 
(Name and add 
, Rents and royalti< 
, Capital gain (or Ic 
, Net profit (or loss) from tradi 
, Other income (state nature; u 



i paid at 5 



covenant bonds upon which a Federal incon 

Government obligations, etc. (from Schedule B) 

m partnerships, syndicates, jjools. etc., and income from other fiducial 

«) - 

(from Schedule C) _ _ _ 

(from Schedule E) _ - 

r business (attach statement) (see InstnKtion 8). — ^ 

separate schedije if necessary) — 



Total income in items I to 9 (enter nontaxable income in Schedules B and G).. 
DEDUCTIONS 

. Interest (explain in Schedule F) - - ~ 

. Taxes (explain in Schedule F) _ - 

. Other deductions authorized by law (explain in Schedule F) 

Total deductions in items II to 13 _ 

. Balance (item 10 minus item H) _ 

, Less amount distributable to beneficiaries (from Schedule A, columns 2 and 4) 

Net income (taxable to fiduciary) (item 15 minus item 16) 



.._...!.. 



COMPUTATION OF TAX 



18. Net income Otem 17 above) 

19. Less personal exemption, if al- 

lowable under Section 163 (a) 
(1) (See Instruction 19) 



20. Balance (surtax net income) 

21. Less interest on Government 

obligations, etc. (from Sched- 
ule A. column 4. line (i)) 



22. Balance subject ton 



lal tax.. 



23. Normal tax (4% of item 22) _ _- 

24. Surtax on item 20 (See Instruction 24) 

25. Total tax (item 23 plus item 24) 

26. Less: Income tax paid at source (from Schedule A, 

column 5. line (»))_ 

27. Income tax of a foreign country or U. S. possession 

(from Schedule A, column 6. line (4)) _. 

28. Balance of tax (item 25 minus items 26 » 



id 27) . 



Schedule A— SHARES OF INCOME AND CREDITS (5c< InttrucUon 16) 

(Including amounu paid or set wide for reliBiou*. cliiritable. etc. purpotei) 












2. Twabie Income 
Exclusive o{ Intcreit 
on Government 
Obligation. 

(Item ISminuiitem4) 


Etc 


5. ryerj Income 
Tu Pud .1 
Source (2% of 
Item?) 


6. Income Ud 
Pro6u Taxes cf 


(Designate nonrcaidcot Kiicn*) 


3. From Schedule 
B. Columns 


4. FromSdiedule 
B. Column 5 


a Foreign Coui>- 
try or U. a 


(c) Beneficiaries' Shares: 

(1) 


$ 




$ 




% 




$ 




i 




(2) _ _ 












(3). 






















(4) 






















(5) 






















(6) 
























$ 




» 




$ 




I-...- 




$ 














Total 


$ 





s 





% 




$ 




$ 





Schtdulo B— INTEREST ON GOVERNMENT OBLIGATIONS, ETC. (S«« Inatruction 4) 



1. Obligationi or Sccuritic* 


2. Amount Owned at 
End of Year 


3. Interest Received 
or Accrued During 
the Year 


4. Interest Eiempt 
From Taxation 


S. Interest on 
cess ol Exemption 


(a) Obligations of a State. Territerty. or political subdi\-ision thereof, or the 


$ 




$ 




All 


$ -- 




(i) Obligations issued under the Federal Farm Loan Act, or under such Act 










All 




(t) Obligations of the United States issued on or before September 1, 1917.... 
(d) Treasury Notes, Treasury Bills, and Treasury Certificates of Indebted- 








All 












All 

$ - 

None. 
















(/) Obligations of instrumentalities of the United States (other than obli- 












(() Totals (enter total of column 5 as item 4 above) 






$ 






$ 





'ill be assessed if duplicate 



STATISTICS OF INCOME 



215 



Schedule C- 


-INCOME FROM RENTS AND ROYALTIES (Soe Instruction e) 






1. Kind of Prapcfty 




3- DtprecUtion (Ex- 
pl^ in Schedule D) 


4. Rcp«irs 


S. Other EjaxTMt 
(ItcmueWow) 


6. Net Profit (Enter 
.>itcm6.p.8el) 












5 - 


-- 
























i 























Schedule D— EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED IN SCHEDULE 


C (See Instruction L) 




1. Kind of Pnjpcny 
CowtnEUd) 


1 D.1. *„ 


J, Colt ot Othu 


* AM<t. Fdty 


Allowed (or of 0>h^^. ttu 


S 


« E.I.- 


l„S3rfc 






t 


*;;-;;; 


-- 


$ 











$ — 













-- 








Schedule E 


—CAPITAL CAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY (See InetrucUon 7) 




1. D.t.*=»i>J 


« E«'h-ns«J 


Month.) 


4. Cro» S.1c PH<^ 
(Cont..tt P.«) 


S. Co.l or Olhd B>w 


•oquat u Ac 


;. Depretiitior. AU 
(Funutb tieUih) 


8- C,n .^ U« 




'lir^%,-i^f 


'^"■"i:3:r:::k:iuij,:::::i:xi:u;::::r: 


$ 






S -. 




!! 1 1 1 1 1...: ! 1 1 1 1 
















'^. 1 ! _ 1 1 ! 1 1 1 1 i 
















"""^ .L„ 1 J _...! !..._ _..J L 1 i J 




!!!'!!zezjz::ii:::jzj;izzj:i]i::j;;j:i::j 













ToUlC 


jain (or los 


) (Enter 


IS Item 7, page 1 ; 


}ut if amount U a 


low. do not enter over $2,000). 






$.- -. 





Give here descriptive details not shown above: 



State how property was acquired .... 

If return is for a trust, was the sale ( 

of another trust created by the san: 



exchange made between (a) the grantor and the fiduciary: (b) the fiduciary of this trust and the fiduciary 
grantor; or (c) the fiduciary and a beneficiary of the trust? ■ „ „ 



1 9 the percenUge ligure applicable u indicated below on the basis of the 'Time Held" ts shown in colur 



Period of tine held 
Ptfcent Applicable. 



Over I Year But Not Over Over 2 Yean But Not Ovex Over 5 Year* But Not Ova 

2 Yean 5 Yean 10 Yean 

60% 



Over 10 Yean 
30% 



Note 2. — Enter in colkunn 10 the^tn or loss to be taken ii 



t by applying the percentage shown in column 9 to the amount (hown in coluj 



Schedule F— EXPLANATION OF DEDUCTIONS CLAIMED IN ITEMS II. 12. and 13 



Schedule C— NONTAXABLE INCOME OTHER THAN INTEREST REPORTED IN SCHEDULE B (See Inetruction K) 




1. Source ol Income 


2. N«ture of Income 


3. Amount 






























1. If a return of income was filed for the preceding year, to which Collec- 

tor's office was it sent? 

2. Date estate or trust was created 

3. If copy of will or trust instrument and statement required under In- 

struction I have been previously furnished, state when and where 
filed _ _ 

4. Check whether this return was prepared on the cash Q or accrual 

D basis. 



QUESTIONS 



5. Did the estate or trust at any time during the taxable year own directly 

or indirectly any stock of a domestic or foreign personal holding com- 
pany? (Answer "Yes" or "No") If answer b "yes." at- 

tach schedule as required by Instruction N. 

6. If return is for a trust, does the trust instrument require or permit the 

accumulation of any portion of the income of the trust?.,. _ 

7. If return is for a tru3t, state name and address of grantor .._ 



AFFIDAVIT (See Instruction F) 

I swear (or affirm) that this return (including any accompanying schedules and statements) has been examined by me, and to the best of my 
knowledge and belief, is a true, correct, and complete return, made in good faith for the taxable year stated, pursuant to the Revenue Acts of 1936 
and 1937 and the Regulations issued thereunder. 

Subscribed and sworn to before me this 



. day of . 



193... 



(Siiwttac cl fiduciary or oficcr 



(If this return i 



f^cuted) 



I/we swear 
statements) is a 
been prepared c 

Subscribed 



prepared for you by some other person, the followng affidavit must be e 
AFFIDAVIT (See Instruction F) 

(or affirm) that I /we prepared this return for the person named herein and that the return (including any accompanying schedules and 
true, correct, and complete statement of all the information representing the income tax liabQity of the person for whom this return has 
if which I /we have any knowledge. 

and sworn to before me this 






. day of . 







216 



STATISTICS OF INCOME 



1A07 INSTRUCTIONS FOR FORM 1041 ,««„ 

l^^l UNITED STATES FIDUCIARY INCOME TAX RETURN 1937 

(Rtferencea are to thr> Rpv^niin Art «f lO-JC .o l_j ■ . i r, . . ^^ ■ »» l 



(Refere 
Taxpayers will find it helpful to 



of 1936, as .mended by the 

'.-■- .■;;- --.;-;-■-• - -.'»<' General Instructions (A) to (N) before coi 

id to read Specific Instructions in connection with filling in the item 



mencing to fill in their returni, 
• items to which they refer. 



GENERAL INSTRUCTIONS 

Form 1041.— Every fiduciary, or at least one of 
appoirited by authority of law in pos- 



(A) Who must 

joint fiduciaries (. _ 

session of only part of the property' of an individual),' j 

income tax return on Form 1041 for: 

(1) Every estate for which he acts, if (a) the net income of such 
— — .,^for the taxable year is $1,000 or over, or (6) the gross income 



1 nonresident £ 



is 15,000 or over, or (c) any beneficiary 

(2) Every trust for which he acts, if (a) the net income for such 
trust for the taxable year is $1,000 or over, or (6) the gross income 



Returns are also 
of a trtist not entitled to a personal exemption allowed bv 
163(a)jl) of the Revenue Act of 1936, as amended by 



the < 



1 401 



of the Revenue Act of 1037 (see Specific Instruction 19) T if it h; 

for the taxable year, or (6) in the case of a trust the 

of any portion of the income of which is in the discretion 

conditioned upon a contingency, if the trust has no 

of $1,000 or over except for 



distributi 

of the trustee ,.., 

net income, but would have a net .„^... 

a deduction for distributions to benefice, c; 

(B) Fiduciary returns on Form 1040 and Fori 

tor or administrator must make a return of the n 

V, ™ ''"' °' '''' '''^"' "" ^'"^ 1"^" or 1040A if such net 

$1,000 or over, if the decedent was unmarried, or equal to or in excess of 

ed him by section 25(b) (1) and (3) (computed without 

the head of a family), if married and living with 

,o, . ^j - ""•' ■"*^ome for the period was $5,000 or over. 

(2) A fiduciary, including the guardian of a minor and the guardian or 

person, who has charge of the income of an indi- 

ome on Form 1040 or 1040A if a return 



the credit alio' 
regard to his E 
spouse, or if his gross i 



vidua!, must make . 

is required for such individual. 









(I) Copy of will or trust instrument.— A copy of the will or trust in- 
strument sworn to by the fiduciary as a true and complete copy in cases 
in which the gross income of the estate or tnist is $5,000 or over, must be 
filed with the fiduciary return of the estate or trust, together with a 
statement by the fiduciary indicating the provisions of the will or trust 
instrument which, in his opinion, determine the extent to which the income 
of the estate or trust is taxable to the estate or trust, the beneficiaries, or 
the grantor, respectively. If, however, a copy of the will or trust instru- 
ment, or statement relating to the provisions of the will or trust instru- 
ment, has once been filed, it need not again be filed if the fiduciary return 
statement showing when and where it was filed. If the trust 
y way after such copy has been filed, a copy 
- . .-- = -.—-■ with a statement by the fiduciary, indicating 

the effect, if any, m his opinion, of such amendment on the extent to 
which the income of the estate or tnist is taxable to the estate or trust, the 
beneficiaries, or the grantor, respectively, must be filed with the return 
for the taxable year in which the amendment was made. 

(J) Received or accrued income.— If the books of account of the estate 
or trust are kept on the accrual basis, report all income accrued even 
though it has not been actually received or entered on the books, and ex- 
penses incurred instead of expenses paid. As to disallowance of deduc- 
tions for unpaid expenses and interest due to certain persons. Bee Specific 

Instruction 11. If the books are not kept on the ' ' ■ * 

books are kept, make the return on the cash basi_ 
uctively received, such as bank ir 
trust and coupon bond i 



'itate ( 
ictually paid, 
npt from t 



r.5^.;f"^'„i^ 



(D) Period to be covered by return.— Calendar vear 1937 or flsfal vcar 
bepnning in 1937 and ending in 1938. ^ 

The established accounting period 

nissioner to make a change. 

ng period shall be made on 

the expiration of 30 



- before the 15th 



Form 1128 and forwarded .„ .,.= v»i,ct«.r pnui 
days from the close of the proposed taxable year 

day of the third month following the close of the taxable year of the 

or tT^t^t w,t», tu^ ,„ii= *■ <»..__., --venue for the district In which the 

,« l=™i „ J r 1"- f—e of business. In case the fiduciary 

lo legal residenc r,r nlai-.. nf v^.^: ;_ t\.^ iT_;.-jr.. .i ^ 

should be forwarded 

(F) Affidavits.— The affida 



th thecollt.._ „. 

des or has his principal ph 

r place of business in the United StatesrthV,, 

the Collector of Internal Revenue, Baltimore, Md. 
lust be executed by the individual fiduoi 



. -by the authorized officer of the organi 
custody or control and management of the inc 
If two or more individuals act jointly as fiduc 



account of the 
report expenses 

(K) Items ex . 

to be exempt from tax should be ___^ 

able interest to be reported in Schedule B. 

The following items are exempt from Federal income t 
otherwise indicated, and should not be included in gross i 






the accrual basis, c 

nd report all income 
erest credited to the 
terest matured, and 



M^ SSm 



1 recei\-ing or having 



of thei 

actually prepared by f 

persona must execute the affidavit j 



J person or persons other 



executed by 

Where the return .„ .. „, ^ 

than the fiduciary, such person „< 
the foot of the second page of the .^.u,,. 
r«iw«?*'' *'!' ^ administered without charge by any collector, deputy 
1^" KiJ ,li"if.™ revenue^agenL If an interna! revenue officer is not 
» ,„.,. _ ... ,1 L_ . . ^ before a notary public, or othpr 



ployed 

with his tax liability. 

(G> When and to whom the 
in full when the return is filed. 



the taxpayer before the Department In 



ley or agent « 



: must he paid. — The tax m 
in four equal installments, 

■ before the 15th day 



,^. " l^fpre the IMli day'of The'third^monthi ^.. 
of the sixth month, on or before the ISth day of the 

before the I5th day of the twelfth month, from the close of "the'tl^ab'le 
LIfJu ^^ ^"y i^V"""*"' '5 "ot paid on the date fixed for payment the 

whole amount of tax unnaiH >;hn)I ho T>BiA .,^«w «„t: j j" J'"f'."-- '"«? 

collector. 

r bringing with the return a check 



ihe lax may be paid by sending c 
money order drawn to the order of "Collector of'lnternarRevenu 
not Bend cash by mail, nor pay it in person except at 
(H) Penalties.— For failure to make and file relur. 
• 'J 25 percent of the amount of the tax, unless such faiiun 
m addition, where failure is willful, a 1 
Tiprisonment for not more than c 



- - Do 

t the collector's office. 

t time. — Five pcr- 

reasonablf 

more than $10,000 

tomther with the costs of prosecution. 

for willfully attempting to evade or 
more than $10,000 or imprisonment for 
toother with the costs of prosecution. 

negligence or fraud. —Five percent of the amount 
intentional disregard of rules and 






^'rrx 



(L) Treatment of depreciation and depletion.— A reasonable allowance 

for the exhaustion, wear and tear, and obsolescence of property used in the 
trade or business may be deducted. All deductions for depreciation must 
be explained in Schedule D. If obsolescence is claimed, explain why the 
useful bfe is less than the actual life. 
The a 



property acquired by purchase should be 

_^ . , ^, ^ ,, - onginal cost (not replacement cost) of 

tperty and the probable number of years remaining of its expected 

useful life, except if the property was purchased prior to March 1, 1913 

nputed on the fair market value of such propertv as of that 

nginal cost (less depreciation actually sustamed before that 

If the property was acquired in any other 



nil be < 



See 



■ than by purcliase, see section"ll4. 

23(m) and 114 and Regulations 

nd information required ii a deduct! 



th respect to addi- 



claimed for 



lal forms _ . 

<M) Information at source.— Every person making payments of sal- 
aries, wages, interest, rents, commissions, or other fixcMJ or determinable 
•" ° ot $1,000 or more during the calendar year 1937, to a single per- 



i married person. 



son. a partnership, 

is required to make a reiuri 

of such payments and the 

forms will be furnished by any collector of intemaf 

and must be forwarded to the Commissioner of Internal Rev 

Washington, D. C. in time to be received not later than February 



Sect 

16, 1938. 
(N) Stock 



fiduciary, or $2,500 t .„ „..„.., 

Forms 1096 end K»99 showing the amount 

upon request 



! and address of each i 



iwned in domestic and foreign personal holding companies.— 
during the taxable year theesUte or trust owned directly 



ndirectly any stock of a doi 



deficiency if due to fraud. 



rc", 



r 60 percent of the i 






.. , -, - foreign personaJ holding t^,,,,- 

pany, attach to the return a sUtement setting forth the name and address 
of each such company and the highest percentage of the total number of 
stiares of each class of outstanding stock owned by the estate or trust 
during the taxable year. If the estate or trust ow.ied stock at any time 
during the taxable year in a foreign personal holding company as defined 
in section 331 of the Revenue Act of 1936, as amended by the Revenue 
Act of 1937, there must be included in the return as a dividend the amount 
"f'^^^ll^ *° ^ included in gross income by section 337 of the Revenue Act 
of 1936, as amended by the Revenue Act of 1937. If the estate or trust 
owned 5 percent or more in value of the outstanding stock of such foreign 
■npany, set forth in an attached statement in complete 



SPECIFIC INSTRUCTIONS 

* numbered lo correspond with item ni 



: of 1937. 



! Act of 



6. Income (or loss) from partncrshipa. ayndicates, pools, etc, and in- 
come from other fiduciaries.— Enter as item 5 the share of the estate or 
trust of the profits (whether received or not) or of the losses of a partner- 
ship (including a syndicate, pool, etc., not taxable as a corporation) and 
ol the income from another esUte or trust. Include in items 26 and 27. 
respectively, the estate's or trust's share of credits claimed for Federal 
ce, and foreign income and profits taxes. 
the basis of which the return is filed does not 
np period of the partnership or other 
the distributive share of the esUt« or trust 
ng period ending within Its taxable year* 



income taxes paid _. 

If the taxable year on 
coincide with the annual 
fiduciary, include in the re 
of the net proflta for such 



STATISTICS OF INCOME 



217 



SPECIFIC INSTRUCTIONS— Continued 



from rcnls and royaltie 



Schedule C giving the 



received as rent on crop-share basis should be reported as income for the 
year in which disposed of (unless the return is on the accrual basis). 

7. Capital gain (or loss). — Report sales or exchanges of capital assets 
in Schedule E and enter the net amount of gain or loss to be taken into 
account in computing net income as item 7. (Capital losses are allowable 
only to the extent of $2,000 plus capital gains, Thpreforo, if the total 
amount of capital losses is in excess of the total amount of capital gains, 
the amount to be entered as item 7 must not exceed $2,000.) Every sale 
or exchange of property, even though no gain or loss may be indicated, 
must be reported in detail. 

Enter full description of each item of property sold or exchanged. 
Such description should include the following facts: (a) For real cstatt, 
location and description of land, description of improvements, details ex- 
plaining depreciation (column 7 of Schedule E) ; (b) for bonds or other 
evidences of indebtedness, name of issuing corporation, description of the 
particular issue, denomination, and amount; (c) for stocks, name of issu- 
ing corporation, class of stock, number of shares, capital changes affecting 
.- -'icr nontaxable distributions, stock 

ubject to the same rule for report- 
was acquired before March 1, 1913. 
If°the property sold or exchanged was acquired prior to March 1, 1913, 
the basis for determining GAIN is the cost or the fair market value as of 
March 1, 1913, adjusted as provided in section 113(b). whichever is 
greater, but in determining LOSS the basis is cost so adjusted. (See sec- 
tion 113.) If property was acquired after March 1, 1913. basis for both 
gain and loss is the cost of such property, c\cept as otherwise provided 
by section 113. The exceptions arise chiefly where property was acqaired 
by gift, bequest, tax-free exchange, involuntary conversion, or wash sale 
of stock; and in such cases section 113 provides the basis that shall be 



used, if the 
of the propG 
ing the acqui 



shown as the basis is other than actual cash cost 
d or exchanged, full details must be furnished regard- 
of the property. 

_ .._ 7 of Schedule E the amount of depreciation, exhaus- 
tion, wear and tear, obsolescence, and depletion which has been allowed 
(but not less than the amount allowable) in respect of such property 
since date of acquisition, or since March 1, 1913, if the property was ac- 
quired before that date. In addition, if the property was acquired before 
March 1, 1913, the cost shall be reduced by the depreciation and depletion 
actually sustained before that date. 

Subsequent improvements include expenditures for additions, improve- 
ments, and renewals and replacements made to restore the property or 
prolong its useful life. Do not deduct ordinarj- repairs, interest, or taxes 
in computing gain or loss. 

Losses not allowable. — No loss shall be recognized in any sale or other 
disposition of shares of stock or securities where you have acquired sub- 
stantially identical stock or securities or entered into a contract or option 
to acquire substantially identical stock or securities within 30 days before 
or after the date of such sale or disposition, unless you are Engaged in 
the trade or business of buying and selling stocks and securities. 

No deduction shall be allowed in respect of losses from sales or ex- 
changes of property, directly or indirectly, (A) between members of a 
family, as hereinafter defined, or (B) except in the case of distributions 
in liquidation, between an individual and a corporation in which such 
individual owns, directly or indirectly, more than 50 percent in value of 
the outstanding stock, or (C) between a grantor and a fiduciary of any 
trust, or ( D ) between the fiduciary of a trust and the fiduciary of another 
trust, if the same person is a grantor with respect to each trust, or (E) 
between a fiduciary of a tnist and a beneficiary of such trust. 
the purpose of determining the ownership of stock, 
paragraph — 

(e) Slock rrrmetl. dirwtly or indirMtly. by or for a eorporDlJon. p 



For 
applying this 



■ ^BmMy**of an^'divMuBl «1 



dude only hi* tfoth 



1 by I 






■Bph ( 



t of period 



See section 117 for definition of capital assets, determinat 
for which held, limitation on capital losses, etc. 

One hundred percent of the gain resulting to the distributee from dis- 
tributions in liquidation of a corporation shall be taken into account in 
computing net income, except in the case of amounts distributed in com- 
plete liquidation of a corporation. (See section 116(c).) 

Section 117 applies only to gains and losses upon the sale or exchange 
of capital assets and, therefore, has no application to loss of useful value 
npon the permanent abandonment of the use of property or loss sustained 
as the result of corporate stock or debts becommg worthless. 

8. Net profit (or loss) from trade or business. — If the estate or trust 
was engaged in a trade or business during the taxable year, enter the net 
profit (or loss) as item 8 and attach to the return a statement showing 
the nature of the trade or business, total receipts, cost of merchandise 
bought for sale, inventories of merchandise on hand at the beginning and 
end of the taxable year, other items entering into cost of goods sold, net 
cost of goods sold, salaries and wages of employees, interest, taxes, losses 
and bad debts directly attributable to the trade or business, depreciation, 
obsolescence and depletion of property used in the trade or business, rent, 
repairs and all other expenses in detail. 

Inventories. — If engaged in a trade or business in which the production, 
manufacture, purchase and sale of merchandise is an income-producing 
factor, inventories of merchandise on hand should be taken at the begin- 
ning and end of the taxable year, which may be valued at (a) cost, or {b) 
cost or market, whichever is lower. Taxpayers were given an option to 
adopt the basis of either (a) cost, or (fc) cost or market, whichever is 
lower, for their 1920 inventory. The basis properly adopted for that 
year or any subsequent year is controlling and a change can now be made 
only after permission is secured from the Commissioner. Application for 
permission to change the basis of valuing inventories shall be made in 
writing and filed with the Commissioner within 90 days after the begin- 
ning of the taxable year in which it is desired to make the change. Indi- 
cate opposite the inventories in the statement submitted by the use of "C" 
or "C or M" whether the inventories are valued at (C) cost, or (C or M) 
cost or market, whichever is lower. 

Depreciation, etc. — See General Instruction (L) with respect to re- 
quirements in case any deduction is claimed for depreciation, obsolescence 
or depletion. 

Bad debts. — Bad debts may be treated in either of two ways — (1) by 
a deduction from income in respect to debts ascertained to be worthless in 
whole or in part, or (2) by a deduction from income of a reasonable addi- 
tion to a reserve for bad debts. 

Taxpayers were given an option for 1921 to select either of these meth- 
ods and the methoa used in the return for the year 1921 must be used in 
returns for all subsequent years unless permission is granted by the Com- 
missioner to change to the other method. Application for permission to 
change the method shall be made in writing at least 30 days prior to the 
close of the taxable year for which it is desired to etTect the change, 

A taxpayer filing a first return of income may select either of the two 
methods mentioned above subject to approval by the Commissioner upon 
examination of the return. If the metnod selected is approved, it must 
be followed in returns for Bubscqnent years, except as permission may be 
granted by the Commissioner to change to the other method. 

If the reserve method is used, you should attach to your return the 
etatement required by article 23(k)-5 of Regxilations 94. 



I'tbts arising from sales or BGr\'ic 
inal amount has been reported as ino 
less are to be treated as bad debts. 

A debt previously charged off, allowed as a deduction, and subsequently 
collected must be returned as income for the year in which collected. 

Installment saUs.—U the insUllment method is used, attach to the 
return a schedule showing separately for the years 193'1, 1935, 1936, and 
1937 the following; (a) Gross sales; (ft) cost of goods sold; (e) gross 
profits; (d) percentage of profits to gross sales; (e) amount collected; 
and (/) gross profit on amount collected. (See section 44.) 

10. Total income.— Enter and explain in Schedule G all income, except 
interest, claimed as exempt, but do not include as part of item 10. 
Exempt interest on Government obligations, etc., should be entered in 
Schedule B. 

11. Interest.— Enter as item 11 all interest paid or accrued, other than 
on business indebtedness (which should be deducted in computing income 
under item 6 or 8). Do not include interest on indebtedness incurred or 
continued to purchase or carry obligations (other than obligations of the 
United States issued after September 24, 1917, and originally subscribed 
for by the taxpayer) the interest upon which is wholly exempt from taxa- 
tion. Any deductions on account of interest should be explained and 
itemized in Schedule F. 

Attention is called to the following limitations on deductions for unpaid 
expenses and interest provided in section 24(c), Revenue Act of 1936, as 
amended by the Revenue Act of 1937: 

(c) Unpaid Expenses and Interest. — Tn comj 
deduction shall be allowed in respect of expenses I 
23(a) or interest accrued under section 23(b) — 



urred under section 



or trust and those assessed 
ease the value of the prop- 
• taxes, nor estate, inWit- 
sed upon the interest of th» 
paid by the c 



Such 



12. Taxes. — Enter as item 12 taxes imposed upon the estate < 
and paid or occrued during the taxable year, not including t 
crty used in the trade or business of the estate 
against local benefits of a kind tending to incr 
erty assessed. Do not include Federal inconw 
ance, legacy, succession, gift taxes, taxes impo 

estate or trust as shareholder of a corporation ^- . , 

poration without reimbursement from the estate or trust. Do not Include 
sales taxes unless the tax was imposed directly upon the estate or trust by 
law. No deduction is allowable for any portion of foreign income ana 
profits taxes if a credit is claimed in item 27. 

Any deduction on account of taxes should be explained and itemiied 
in Schedule F. 

13. Other deductions authorized by law.— Enter as item 13 the total 
amount of all deductions authorized by law which are not reflected elw 
where on the return and itemize such deductions in Schedule 
deductions include losses by fire, storm, etc., bad debts not incurred in a 
trade or businefs, and stocks which became worthless during the taxable 
year. In the case of loss by fire, storm, shipwreck, or other casualty, or 
from theft, set forth in Schedule F a description of the property, date 
acquired, cost, subsequent improvements, depreciation allowable since 
acquisition, insurance, salvage value, and deductible loss. In the case of 
baa debts, including bonds, ascertained to be worthless during the taxable 
year, state in Schedule F, (a) of what the debts consisted, (b) name of 
the debtor, (c) when the debts were created, (rf) when they became due» 
(f) what efforts were made to collect, and (/) how they were actually 
determined to be worthless. 

In case the estate or trust incurred expenses in connection u-ith exempt 
income, or owned any property the income from which is exempt, se* 
section 24(a)(5) and article 24-4 of Regulations 94. 

16. Amounts distributable to beneficiarieB.— Ente 
amount distributable to beneficiaries as reflected i: 
Schedule A. Care should be taken in filling out 
include as shares of beneficiaries amounts if ch 
which pursuant to the terms of the will or deed i 
during the taxable year paid or permanently i 
section 162(a). If anv part of the 
grantor, such grajitors share shou 
the beneficiaries' shares in Schedule . 

19. Personal exemption allowed under section 163(a)(1). — An estate 
or trust is allowed for both normal tax and surux purposes the personal 
exemption of $1,000 allowed a single person under section 25(b)(1), 
except that such personal exemption is not allowed to any trust If the 
trust instrument requires or permits the accumulation of any portion of 
the trust income and the sum of the following items is less than its gross 
income: (a) total deductions allowable under sections 23 and 162 and (b) 



as item 16 the total 
columns 2 and 4 of 
chcdule A so as to 
liable contributions 
?ating the trust are 
provided in 



:luded 

jurisdiction under which the 
milted or required by the 
considered i 



hich (A) under the la' 
ust is administered cannot (even if per- 
nstrument to be considered as income) be 
id (B) are not distribuUble during the taxable 
year. If a personal exemption is claimed for a trust which has not dis- 
tributed dunng the taxable year an amount equal to its gross income less 
its deductions allowable under section 23, there should be attached to the 
return a statement setting forth the facts regarding that portion of the 
income which, under the law of the jurisdiction under which the trust is 
administered, cannot be considered as income and is not distributable. 

24. SurUx.— The surtax on any amount of surtax net income (item 20) 
not stated in round figures in the table below is computed by adding to 
the surtax for the largest amount stated which i 
surtax upon the excess over that a 
Fort 



$180, the £ 



Tiple, 



5 than the i 

t the rate indicated in the table. 
1.84, the surtax (i'em 24) is $255.71 (i. e.» 
I $8,000, plus $75.71—6 percent of $1,261.84). 



1 20 is $9,2( 



26. Income tax paid at source.— Enter as item 26 the fiduciary's share 
of that portion of the 2 percent Federal income tax on bond interest which 
was paid at the source by the debtor corporation, as reflected in Schedule 
A, column 5, line (6). 

27. Income and profits taxes paid to a foreign country or United States 
possession.— If, in accordance with section 131(a). a credit is claimed in 
item 27 for income, war-profits, and excess-profits taxes paid to a forei 
country or a possession of the United States, submit Fo 
return, together with the receipts for such payments, 
sought for taxes accrued, the 



1116 with the 

lUst have attached to it a certified 

hich the tax was based, and the Commissioner may 

Form 1117 for the payment of any tax found due if the 



[ when paid differs from the credit claimed. 



218 



STATISTICS OF INCOME 



UNITED STATES 



1937 PARTNERSHIP RETURN OF INCOME 1937 



(To be Filed Also by Syndicates, Pools. Joint Ventures. Etc.) 
Treasury Department (Form 1065) Internal Revenue Service 

For Calendar Year 1937 or Fiscal Year 
beginning , 1937, and ended - , 1938 

File (hit Ktum not liter ihan the 1 5th day of the 3d otonth Eollo^n; the doM of the Uuble jt»r 



E 0RCaN1Z.(T10N) 



GROSS INCOME 



=;ptsfrc 






old: 



(a) Inventory at beginning of year _.. 

0) Merchandise bought for sale 

(c) Cost of labor, supi- •., etc L„ 

(J) Total of lines (a), (b). and (c) '. l^. 

(e) Less inventory at end of year 

)ss profit (or lois) from business or profession (item I minus item 2) 

ome (or loss> from other partnerships, syndicates, pools, etc. (state separately 
imount): 



5. Interest on bank deposits, notes, corporation bonds, etc. (except interest to be reported ii 

6. Interest on ta.t-free covenant bonds upon which a Federal income tax was paid at sourc 

7. Taxable interest on Govetnment obligations, etc. (from Schedule B) 

8. Rents : 



9. Royalties _ 

10. Capital gain (or loss) (from Schedule C) 

11. Dividends from domestic and foreign corporations., 
'7. Other income (state nature of income); 



14. Salarie 

15. Rente 

16. Repair 



Total income in items 3 to 12 (enter nontaxable income 
DEDUCTIONS 

lude compensation for partners c 



1 Schedules B and 1).. 



; and wages (do not 
1 business property. 



. Interest on indebtedness (explain in Schcduh 

. Taxes (explain in Schedule D) 

. Contributions (explain in Schedule E) 

. Losses by fire, storm, etc. (submit schedule, ; 

. Bad debts (explain in Schedule F) 

. Depreciation (explain in Schedule C) 

. Depletion of mines, oil and gas wells, timber, 
. Other deductions authorized by law (explain 

ToUl deductions in items 14 to 24 

Net income (item 1 3 minus item 25) 



;tc. (submit schedule. 
1 Schedule H) 



Schedule A— DISTRIBUTIVE SHARES OF INCOME AND CREDITS 


(S« In.truclion 


27) 








1. N>ii>c uxJ A.lJrm of Each Putner or Member 


if 

In- 


3. Earned Income . 


4. Tusiile Interest on 
Covenunent Obli- 
gation. (Item 7) 


5. Balance of Net Income 
(Item 26 minua Amount, 
in Column. 3 and 4) 


6. Federal In- 
come Taa 
Paid at 
Source (2% 
of item 6) 


7. ItKome and 
ProSt. Taie. 
ol a Foreign 

U°s"Po.K°.^ 


(o) ^ 




$ 


$ 




$ 




$ 


$ 


(i) 




















(c) 




















(<0 




















" 1 ■ 


(c) 




















1 


(/). 






















(l) 




















Totals !$..._ 1 1$ 


1$ 




i 


1$ 1 



NOTE. — If tSe full time of any member was not devoted to the business, the percentaee of time devoted to the buetness must be stated above 
Schedule B— INTEREST ON GOVERNMENT OBLIGATIONS, ETC. (See Instruction 7) 



1. Oblieation. or Securities 


2. Amount Owned at 
End ot Year 


3. Inurct Received 
or Accrued During 
the Yea, 


4. Interest Exempt 
From Taxatron 


S. Interest on 
Amount in Ex- 
ecs, of Eaerop- 


(a) Obligations of a Suie. Territory, or political subdivision thereof, or the 
District of Columbia, or United States possessions „. 


$ 




i ._ 


All -_ 

AU- 


t- 




(A) Obligations issued under the Federal Farm Loan Act, or under such Act 












(0 Obligations of the United States issued on or before September 1. 1917_. 
{J) Treasury Notes, Treasury Bills, and Treasury C^otilicates of Indebted- 










AU 

All 














(e) U. S. Savings Bonds and Treasury Bonds 










(/) Obligations of Instrumentalities of the United Sutes (other than obliga- 
tions to be reported on line (i) above) 








None 




(s) Totals (enter total of column 5 as item 7 above) 


$ 




i 





ith this original return ($10 will be assessed if duplicate 



STATISTICS OF INCOME 



210 





Schedule C— CAPITAL CAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY (See 


Inittruetic 


,10) 






1 D»W Atquiied 
M» D„ y-r 


Afo. 0=„ >W 


(Yt«l,™Iflni>«) 




6. Onl at OOitr Bull 


Com o( ImprovnwnU 
£ub>cqucnt U, Auguw 




tlii JiltiL) 


i.C^o.U- 


(c) 








. T.. J ' k ! !...._ f k i......k i 




(» 








■^'" 1 :z._ "r""":"-'"Xj""": " .zrTfzzT'Tirzz:;:;:!::: 




W 








_ 1 _ 1. 1.... j. J i..i 1 1 


. i.-. 

1 




(.0 









°r* L L.. :.... .."L ..._ I. i 1. -1 1 




w 








'.. i i 1 ! ! 1 1 L...-.1 i 






Contbine amounts in ctJunm 9 by groups acoording to timcheld, into totals 
whether each entry is gain or loss. 


: and enter samfr on 


line (w) of the sumnnary tabic below. 


Indicate by G or L 


Pcr«d «l Time Held 


.v.„,u- 


Ovtr 1 Y»r But Not 
OvcrlYMr. 


°"^ry£:;;''" 


Ovcf S Ytan Bui Not 


OmtOYcan 


1TEM<Z) 


(w) ToUl gain or loss from 


$ 1 . 


$ 1 


, 1 


$ 1. .. 


$ ! 


t^iwd by Conbinn 




100% 
$ 1 


80% 
$ L- 


60% 

$ L- 


40% 

$ 1 


30% 

s L 




(y) Gain or loss applicable 

(line (w) times line (x)).... 


s., 1 



Ent 


trit 


m(z)a 


s item 10. first page; but 


f it«m (z) is 


a net lo 


ss, do not enter o-^ 


rer $2,000. 




Give her 


ede. 


criptiv 


' details not shown above: 

























SUte (I) how and fr 
if any, of purchj 



icquired : (2) Personal or bu: 



Schedule D— TAXES (See Instruction 18) 


Schedule E— CONTRIBUTIONS OR GIFTS (See Instruction 19) 


N.tw 


Amount 


N™ «d Add™ ol Otj.ni..lior. | A.>»,<.I 




$ 


...._ $ 


































Total (enter as item 18. first page) 


» 




Total (enter as item 19, hrst page, subject to 

the 15 percent limitation) $ - -.-. 











Sc 


ledule F— BAD DEBTS (See In.trucUon 21) 










.s„ 


lo<««lt,r«td 


.SO..OA...... 


4. Atd Dtbu Chorvd OS fct 




ll&l.»ia 


.,o.C»,»d.R«™ 




5.Cf«*oA» 


,-MUi^U 


Bo-n 




1934 


$ 


%. 




$ 




$ 




$ 1 


1935 


































1 


1937 














::;::;;;;;:;;::;::::::..:.;. r:;..:;: 



lubmit the informalion ■pedfied in Inrtniction 21. 



Schedwie C— DEPRECIATION (Se« Inatructii 



3^o«; 



Total (enter as item 22, first page).. 



Schedure H— EXPLANATION OF DEDUCTIONS CLAIMED IN ITEMS 17 AND 24 



Schedule I— NONTAXABLE INCOME OTHER THAN INTEREST REPORTED IN SCHEDULE B (See InatructJon 13) 



1. Date of organization -. 

2. Nature of organization (partnership, syndicate, pool, joint venture. 

etc.) 

3. If return was filed for preceding year, to which collector's office was it 

sent? 

4. Check whether this return was prepared on the cash Q or acc.-ual 

D basis. 

5. State whether inventories at the beginning and end of the taxable year 

were valued at (a) cost, or (i) cost or market, whichever is lower 



QUESTIONS . 

If any other basis is used attach statement desaibing basis fully, state 
why used .ind the date inventory was last reconciled with stock 



6. Did the organization at any time during the taxable year own directly 

or indirectly any stock of a domestic or foreign personal holding 

company) (Answer "Yes" or "No") If answer is "Yes," 

attach schedule required by Instruction I. 

7. Was return of information on Forms 1096and 1099 filed for thecalendar 

year 1937? (See Instruction H) 



AFFIDAVIT (See Instruction E) 

1 swear (or aifirm) that this return (including any accompanying schedules and statements) has been examined by me. and to the best of my knowl- 
edge and belief is a true, correct, and complete return, made In good faith for the accounting period stated, pursuant to the Revenue Acts of 1936 and 
1937 and the Regulations issued thereunder. 



Subscribed and s 



1 to befoi 



Ethis 



. day of . 



. 193.. 



(ir thii 



It be executed) 



VQS prepared for you by some other pertion, the following afRdavit mus 

AFFIDAVIT (See Instruction E) 

I/we swear (or affirm) that I/we prepared this return for the organization named herein and that the return (including any accompanying schedules 
and statements) is a true, correct, and complete statement of all the information reprcienling ihe income tax liability of the person for whom this return 
has been prepared of which I/wc have any knowledge. 

Subscribed and sworn to before me this ... 



, day of . 



.., 193. 




1S658.J— 40- 



-15 



220 



STATISTICS OF INCOME 



1937 



INSTRUCTIONS FOR FORM 1065 

UNITED STATES PARTNERSHIP RETURN OF INCOME 



1937 



(Pefer. 



. thr Rev, 



nded by the 



Act of 1937. unlcBB otherwise noted) 

It will be helpful to read General Instructions (A) to (I) before commencing to fill in returns, and to read 
SpeciBc Instructions in connection with filling in the item or items to which they refer. 

The term "partnership" as used herein includes a syndicate, group, pool, joint venture, or other 
unincorporated organization, through or by means of which any business, financial operation, or venture is 
carried on, and which is not, within the meaning of the Revenue Act of 1936, as amended by the Revenue 
Act of 1937, a trust or estate or a corporation; and the term "partner" as used herein includes a member in 
such a syndicate, group, pool, joint venture, or organization. 

GENERAL INSTRUCTIONS 

(F) Ppn.ili 



(A) Who must use Form 1065. — Every domestic partnership (including 
sj-ndicates, groups, pools, joint ventures, etc.) and every foreign partner- 
ship, syndicate, pool, etc., doing business within the United States or 
having an office or place of business therein shall make a return of income 
onForml065. (Sec section 1001 (a) (3) and Supplement F.) Ifthere- 
tum is filed on behalf of a syndicate, pool, joint venture, or similar group, 
a copy of the operating; agreement should be attached to the return, unless 
a copy has been previously filed, together with all amendments thereto. 

(B) Period to be covered by return. — Calendar year 1937 or fiscal year 
beginning in 1937 and ending in 1938. A fiscal year must end on the last 
day of a calendar month other than December. 

The established accounting period must be adhered to for all years, 
unless permission is received from the Commissioner to make a change. 
An application for a change- in the accounting period shall be made on 
Form 1128 and forwarded to the collecitor prior to the expiration of 30 
days from the close of the proposed period for which a return would be 
required to effect the change. 

(C) Basis of return. — If your books of account are kept pri ',i|. ;ii,i-ii,i! 
report all income accrued, even though 



ived 



andc 



incurred insl 
• accrual basis, or 
s and report all i 



, - - '- kept 

books, make your return on a cash basi 

or constructively received, such as bank interest credited to your account 
and coupon bond interest matured, and repoit exjtenses actually paid. 
Attention is called to the following limitations on deductions for unpaid 
expenses and interest applicable to taxpayers on the accrual basis pro- 
vided in section 24 (c), Revenue Act of 193(i, as amended by the Revenue 
Act of 1937: 



EXPENSES . 



INTBREST.- 



— For wilful failure to make and file reluni on time.— 
10,000 or imi»risonment for not more than 1 year, or both, 
together with the costs of prosecution. 

For villfiilly nttrmpiing to tn'ade or defeat payment of the tax. — Not 
more than 510.000 or imprisonment for not more than 5 years, or both, 
together with the costs of prosecution. 

(G) Hems exempt from tax. — All items of income claimed to be exempt 
from tax shoald be explained in Schedule I, except nontaxabl 
be reported in Schedule B. 

The following are among the items exempt from Federal 



■cpt 



otherwise indicated, and Should not be included in gross 



—Every person making payments of sal- 






CD) When and »h.r, 1 1 ,- ,, ,,,, 
day of the 3d month 
nership with the coll' < :■■■<■ 
partnership has its prim ji.il i>';. 

The return forafnn'r" pin ,■ 
day of the fith month n IIoa rm; t 
foreign partnership doe^ not hn.. 
cipal office or agency in ihe Umteii .st.it 
the Collector of Internal Kcvenue, lialtir 

(E) Affidavits.— The return shall be s 

trol of the proper'-- -t hn-inf --- of 
assignee.-, -.h.,'; ■ ,,■, it. i h.^ y. 
Where the return i- > . i. ■ ; ,: i 
than a member or tMi !> 
must execute the alThi:. ' m., !■. ■ . 
The oath will be admire .tm., I \ulhMui 
collector, or inI<Tnal rev'-'iiiir aiji'iit If 
available, the irturn -^hn'M h- ~.w..,n I.. 



principal plare of business. 
I shall be filed on or b.-fore the 15tli 
■>se of the taxable year, and if such 
priTicipal i)lace of business or prin- 
Jtuni shall be filed with 



irniihrd by ; 
warded to the Comn 
gton, D. C, in timet 



and address of i 



These 
! upon request 
i'enue. Sorting 



■I k of a domestic or foreign personal holding company, 
irp a statement setting forth the nan?e and address of 
iiy and the highest percentage of the total number of 
class of outstanding stock owned by the partnership during 
domestic partnership and owned 
ir ill a foreign personal holding 
11 secuon ,.,ii oi uie iit\cnue Act of 1.0S6, as amended 
' f I • T, ;■'' r. II ^ II,. luded in the return as a 

■ ^ : . cross income by section 

. ' - the Revenue Act of 1937. 

i >; i ( .' ■ill ownied 5 percent or more 

u 1 IK - '- ■' k '.: .:.'.ii J Mci;;n personal holding com- 
ittacheil statf^iner.t in complete detail the information 
m (d) of the Revenue Act of 193(), as amended by 
L)37. 

I partnership created or organ- 



r undor the law of the United States or of a 



SPECIFIC INSTRUCTIONS 

'spond with item ni 



i-ie or busint 
beginning ; 



The basis propfi 1 
iitroUing, and a cli i 

in.ni the Comuo • 



explain fully in an:i\vfr to question 
the method used. 

See article 22 (c)-5 of Regulatio 



I 94 with ; 



ond page of the return 
spect to irrveiitories by 



Inxtalhnrnt KoVfs. — If the installment method 
return a schedule showing separatelv for the vea 

imi the following: in) Gross sales; (t) cost of goods' sold ;' (c) k.-.-^ 
profits; («/) pertentage of profits to gross sales; (c) amount collected: 
and (/) gross r-rofit on amount collected. (S<.'e section ■I'l.) 

-If the partnership operates a farni and 

■ keeps books on a cash basis, obtain from 

, Form 1040F, Schedule of Farm 

item 3, first page 



keeps no books of account, 

the collpctor and attach to thi 

Income and Expenses, and enter the net fa 

of the return. If the farm books of account arc kept i 

basis, the filing of Form 1040F is optior.al. 

■ loss) from other partnerships, syndicates, pools, etc. 






Enter t 

the InS! 

whu-h ■ 



4 your share of the profits (whether 



If ■ 



ved< 



the basis 



debtor corporation, if an o«-nership ter 
the interest coupons. The tax of 2 per 
est should be allocated to the partnt-rs 



.iTicate on Form 1000 was filed with 
ent paid at the source on such inter- 
Dr niemVrs in column C, Schedule A. 



and depreciation st 

If property or cr 

as though the ren' 



ss amount received or accrued for 
claimed for repairs, interest, taxes, 
' ''ms 1 6. 17, 1 8, and 22, respectively, 
sh rent, report the income 
Crops received as rent oi^ 
ic for the year in which 

received or accrued 
of depletion, it should 






nf of ?2,000 plus 



Therefore, if the 
mount of capital 

gains, the ;tin..nnl (M !» .n(.,.,l .,, ilom 10 must not exceed J2.000.) 
Every sal.- > . , i ■ vt-n though no gain or loss may be 

Fnterriill.: :. i i ;' property sold or exchanged. Such 

HesriifitiMM : ,;,,.,;ji (!.. i,.h....Hig facts; (a) For real estate, loca- 

tt.n n I .'- , ' ■ n Af land, iIll.ci lilt ion of imi»rovements. details explain- 
ici' ' 11 1 I . -lumn 8, Schedule C) ; (6) for bonds or other evidences 

of ' !■ . -inio of issuing corporation, description of the particular 

I - 'I ' '■' -n. and nmnunl; (r) for sticks, name of corporation, 

•"■1,1 , t.j'i' . ■ , r ■'..■ ■. , w ..| ' il . I .uii"'S affecting basis (non- 

ti ■ I, ■ 1 , ■! . - ■ ■ , ! ' ,' nil rids, stock rights, etc.). 

'II.. ■ I..I . " r..r- ii . ;■.■!■.■■ I ,.,■■' 1.1 the same rule for report- 

inu' ; I 1 ■ I I. - 1 I . i V L V ijijired before March 1, 1913. 

If tir iM..|nru -..M .r .■.. I .,- ;■, .1 v..,-. a..,Mire,l prior to March 1, 191,1, 
the basis fur dr.term)nir(j CAIN is the cost or the fair market value as of 
March 1. 1913, adjusted as provided in section 113(b), whichever is 
greater, but in determining LOSS the basis is cost so adjusted. (See 
section 113.) If property was acquired after March 1. 1913, basis for 
bothgain and loss is thie cost of such property, except as otherwise pro- 



STATISTICS OF INCOME 



221 



I PARTNERSHIPS.— If t 



acquisition of the property. 

Enter in column 8, Schedule C, the amount of depreciation, exhaustion, 
wear and tear, obsolescence, and depletion which has been allowed (but 
not less than the amount allowable) in respect of such property since date 
of acquisition, or since March 1. 1913, if the property was acquired before 
that date. In addition, if the property was acquired before March 1, 1913, 
the cost shall be reduced by the depreciation and depletion actually sus- 
tained before that date. 

Subsequent improvements include expenditures for additions, improve- 
ments, renewals and replacements mace to restore the property or pro- 
long its useful life. Do not deduct ordinary repairs, interest, or ta>:e3 
in computing gain or loss. 

LoMca not aJfoiraMc— No lo^* shull h<- reonRn>z«d in nny sa\« or other dispo^iiUon of 
rfwn-, of stock or wcuriti.r« wh<rr* the pBrtnership acquirwl subrtiinlially identical stock 



brorforhisJamily; 

tion of aubiiarngraph lb) at 
indirectly, by or for his rar 



1 (b) . 






See section 117 for definition of capital assets, determination of period 
for which held, limitation on capital losses, etc. 

One hundred percent of the gain resulting to the distributee from 
distributions in liquidation of a corporation shall be taken into account in 
computing net income, except in the case of amounts distributed in com- 
plete liquidation of a corporation. (See section 115 (c).) 

Section 117 applies only to gains and losses upon the sale or exchange 
of capital assets and. therefore, has no application to loss of useful value 
upon the permanent abandonment of the use of property or loss sustained 
as the result of corporate stock or debts becoming worthless. 

12. Other income. — If the partnei-ship had any taxable income, space 
for reporting which is not provided elsewhere on the return, enter it as 
item 12, and explain its nature, usinfe a separate sheet if necessan.- for 
that purpose. 

13. Total income. — Enter and explain in Schedule I all income, except 
interest, claimed as exempt, but do not include as part of item 13. Exempt 
interest on Government obligations, etc., sliould be entered in Schedule B. 

14. Salaries and wages.— Enter as item 14 all sal.iries and wages not 
included as a deduction in line (c), item 2, except compensation for part- 
ners or members, which shall not be claimed as a deduction in this item 
or elsewhere on the return. 

15. Rent.— Enter as item 15 rent on business property in which the 
partnership has no equity. Do not include rent for a dwelling occupied 
by any partner or member for residential purposes. 

16. Repairs.— Enter as item 16 the cost of incidental rcnairs, including 
labor, supplies, and other items, which do not add to the value or appre- 
ciably prolong the life of the property. Expenditures for new builings, 
•nachinery, equipment, or for permanent impruvenients or betterments 

..L.-.t- ; --; the value of the property are chargeable to capital account, 
or replacing property are not deductible, as 
reabte to capital accounts or to depreciation 
depreciation is charged on the books of the 



Expenditures for 
such expenditures ; 
reserve, depending 
partnership. 

17. Interest.- Enter as item 17 interest on business indebtedness to 
others. Do not include interest on capital invested in the business by any 
partner or member, nor interest on indebtedness incurred or continued to 
purchase or carry obligations (other than obligations of thp United States 
is.sued after September 24, 1917. and. originally subscribed for by the part- 
nership) the interest upon which is wholly exempt from taxation. Sec 
' "■ 'th reference to aeducUons for accrued 



also (General Instruction C 
interest and expenses. 

18. Taxes.— Enter as item 18 taxes 
at include la> 
alue of the fir 
e taxes, nor estate, n 
taxes entered in cnlu; 

r tht.. 1 



tending to 
Federal in 
gift taxes. 
taxes impc 
poration which 



)roperty or for carr>'- 
iirairist local benefits 
I, as for pacing, etc.. 



f paid by the corporati 



20. Losses by fire, storm, etc. — Enter as item 20 losses sustained during 
the year, if incurred in a trade or business, or 6{ property not connected 
with a trade or business, if arising by fire, storm, -shipwreck, or other 
casualty, or from theft, and not compensated for by insurance or other- 
wise. (See section 23 (e).) 

Attach a schedule setting forth a description of the property, date 
acquired, cost, subsequent improvements, depreciation allowable since 



1 respect of debts ascertained to be 

1 income of a reasonable addition to a reserve 

1 option for 1921 to select either of these meth- 
1 the return for the year 1921 must be used in 
unless permission is granted by the Com- 



(1) By a deductio 
worthless in whole oi 

(2) By a deductio 
for bad debts. 






J the other method. Application for permi .„ 

change the method shall be made in writing at least 30 days prior to the 
close of the taxable year for which it is desired to effect the change. 

A partnership filing its first return of income may select either of the 
two methods mentioned above subject to approval by the Commissioner 
upon examination of the return. If the method selected is approved, it 
must be followed in returns for subsequent years, except as permission 
may be granted by the Commissioner to change to the other method. 



The deduction claimed for bad debts in item 21 must be supported by 
the data requested under Schedule F, and there should be indicated by 
appropriate check mark at the foot of Schedule F whether the deduction 
claimed represents (1) bad debts ascertained to be worthless and charged 
otf within the taxable year, or (2) an addition to a reserve for bad debts. 
Partnerships rendering returns on a cash basis should fill in columns 2 
and 4, Schedule F. Partnerships rendering returns on an aOcrual basis 
but not carrying a reserve for bad debts on the books of account should 
columns 2, 3, and 4, Schedule F. and partnerships carrying a 



the debt was determined 
Debts arising from sales or 
has been reported 



is claimed. Where returns are rendered on a fiscal year basis, the data 
in Schedule F should be submitted on. the basis of each fiscal year begin- 
ning within the calendar year printed in column 1, Schedule F. 

In addition to supplying the requisite data in Schedule F, partnerships 
claiming deductions for bad debts on other than the reser\'e basis should 
submit a statement showing with respect to each debt claimed as a deduc- 
tion^(a) riajne of debtor, (h) amount charged oiT, and (c) how and when 
be worthless. 

ire not deductible unless the orig- 
Bonds ascertained to be worth- 
be treated as bad debts. 
A debt previously charged olT, allowed as a deduction, and subsequently 
collected must be returned as income for the year in which collected. 

22. Depreciation. — The amount deductible on account of depreciation in 
item 22 is an amount reasonably measuring the portion of the investment 
in depreciable property used in the trade or business by reason of exhaus- 
tion, wear and tear, including a reasonable allowant- _., 
which is properly chargeable for the year. If the property 
by- purchase on or after March 1, 1913, the amount of dapret 
be determined upon the basis of the original cost (not replacement cost) 
of the property, and the probable number of years remaining of its ex- 
pected useful life. In case the property was purchased prior to March 1, 
iation will be determined in tne same m 
Its original cost, less depreciatic 



than by purchase, see section 114. The capita! sum to be recovered should 
be charged off ratably over the useful life of the property. Whatever 
plan or method of apportionment is adopted must be reasonable and must 
have due regard to operating conditions ouring the taxable year and should 
be described in the return. Stocks, bonds, and like securities are not sub- 
ject to depreciation within the meaning of the law. 

If a deauction is claimed on account of depreciation, fill in Schedule G. 
In case obsolescence is included, state separately arnutit <Iaiiii'Ml and 

basis upon which it is computed. Land valurs r,r '■r.-^'- ' ■■ • ^^ ■ ■■'■!,', i 

in this schedule, and where land and buildinfr^ v ■ i 
sum the cost of the building subject to depr< i I 

The adjusted property accounts and the accuir , -, 

in the schedule should be reconciled with tho?<- . I. ,■ l.' 

books of the partnership. (See sections 23 (I) and 111.) 

23. Depletion of mines, oil and gas wells, timber, etc. — If a deduction is 
claimed on account of depletion, procure from the collector Form D (min- 
erals). Form E (coal), Form F (miscellaneous nonmetals). Form O (oil 
and gas), or Form T (timber), fill in and file with your return. If com- 
plete valuation data have been filed with questionnaire in previous years, 
then file v.ith your return information necessary to bring your depletion 
schedule up to date, setting forth in full statement of all transactions 



bearing on deduct 

the taxable year with cxplanat 

able year has been determined, 

24. Other deductions.— Ente: 

for which no space is pi 



additions to value of physical assets during 
1 of how depiction deduction for the tax- 
(See sections 23 (ni) and 114.) 
;s item 24 any other authorized deduc- 
ided elsewhere on the first page of the 
deduct losses incurred in transactions which were neither 
connected with the trade or business nor entered into for profit. No de- 
duction is allowable for the amount of any item or part thereof allocable 
to a class of exempt income, other than interest. Items directly attribut- 
able to such exempt income shall be allocated thereto, and items directly 
attributable tu any clxss of taxable income shall be allocated to such tax- 
able income. If an item is directly attributable both to taxable income 
npt inconif. a reasonable proportion thereof, determined in the 



interest, of holding any prop- 
me from which is exempt shall 
I itemized statement, in detail. 



light of ail the- facl.^ 

each. Apportii'nmcnts must in all cases 
receiving any exempt income, other thar 
erty or engaging in any acti\ity the incc 
submit with its return as a part thereof i - . 

showing (1) the amount of each class of exempt income, and (2) the 
amount of expense items allocated to each such class (the amount allo- 
cated by apportionment being shown separately), 

27. Partners* or members' shares of income and credits. — Enter the 
names and addresses of the partners or members on lines (a). (6), (r), 
etc.. in column 1, Schedule A. and extend in the proper columns each part- 
ner's or member's shares of the net income whether distributed or not. 
Schedule A should show complete infonnation with respect to all the per- 
sons who were members of the partnership, syndicate, group, etc., during 
any portion of the taxable year. If the full time of any partner was not 
devoted to the business, the percentage of time devoted to the business 
must be shown in Schedule A. 

Earned income. — Enter in column 3 the proper part of each partner's 
or member's distributive share of the partnership's net income which con- 
sists of earned irnoiiie. Such part cannot exceed a reasonable allowance 
as compi II .u 1 '(, I I [M r iiiial services actually rendered by the partner or 
member ,i li the partnership's business. In the case of a 

partnrol: ; . .i;;ed in a trade or business in which capital is a 

material n. . . . ^f . .; .. n^; factor and in the trade or business of which the 
partner ui h.ik.Lhi ixj-dtni personal sei^Tces which are material to the 
earning of the parlncrship's income, the earned income of the partner or 
member from the partnership is a reasonable allowance as compensation 
for the personal ser\'ites actually rendered by him, but not in excess of 20 
percent of his share of the net profits of the partnership (computed with- 
out deduction for so-called salaries to partners or members). 

Example: A partnership composed of A, B, and C is engaged in the 
retail men's clotning business. Each partner i& entitled to one-third of the 
net profits, after deduction of so-called salaries to members. A devotes 
most of his time to the business and is paid a salary of $10,000. B de- 
half of his time to the business and is paid a salary of $5,000. C 









ilied salaries to members, are $24,000. The earned i 
of the partners from the partnership is as follows; Although A received 
a salary of $10,000 and B a salary of $5,000, since the partnership is en- 
gaged in a business in which capital is a material income-producing factor, 
the earned income of each from the partnership is limited to 20 percent 
of his share of the net profits. A's share of the net profits is $13,000 



share of the 
$1,600, is B's 
jine from the 
with the 



earned income from the partnership. C has no 
partnership, since he renders no personal 
partnership business. 

Credit for taxi-.'^.—U interest was received c 
connection mth which an ownership certificati 
Federal income tax of 2 percent paid at the S( 
be allocated to the partners or members in column 6. 

If income and profits taxes paid to a foreign country or a possession of 
entered in column 7, submit Form 1116 with your 
f t. L .. . jg^ j^^ amount 

.^ , --^ -lot paid, attach 

rtified copy of the return on which the taxes were based. 

may require the partners or members to give a bond on 

found due if the foreign 



the United States 

return with a receipt for each such 

entered in column 7 includes foreign 

to the form - ''" ' ' ' 

The Commis 

Form 1117 for the payment of any additional 



1 such interest should 



: when paid differs from the amount claimed. 



INDEX 



A 

Page 

Additional tax, estate tax returns 48-51, 55-87 

Agriculture and related industries, individual income tax returns, net in- 
come of $5,000 and over: 

Profit and loss from business 28-29 

By size of profit and loss 138 

Aliens: 

Estate tax returns, resident and nonresident 48 

Individual income tax returns: 

Compensation, resident (note 12) 191 

Credit for dependents (notes 1 1 and 16) 191 

Filing returns (note 1) 190 

Personal exemption (notes 9, 12, and 16) 191 

Tax rates (notes 13 and 16) 191 

Amended returns tabulated, individual income tax returns 3 

Amusements, individual income tax retvirns, net income of $5,000 and 
over: 

Profit and loss from business 28-29 

By size of profit and loss 141 

Average net income, individual income tax returns, by States 115-116 

Average tax, individual income tax returns: 

Net income classses 118 

States 115-116 

B 

Back taxes, defined (item 6) 4 

Bank deposits, notes, mortgages, corporation bonds, taxable interest on 

(see also Interest, taxable) 12, 13, 15, 130, 133, 173, 176 

Business profit and loss: 

Fiduciary income tax returns by balance income and deficit classes. _ 174, 177 
Individual income tax returns: 
* All returns: 

Amount and percent 12 

Net income classes 14, 135-136 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution by net income classes 16 

States 131 

Years, 1916 through 1937 41-43 

Returns with net income of $5,000 and over: 

Explanatory text 26-27 

Frequency distribution: 

By size of business profit 20-21 

By size of business loss 2 1-22 

Industrial groups and subgroups: 

Labor and salaries 29 

Returns with schedule D 28-29 

Returns without schedule D 28-29 

Total receipts 28-29 

Net income classes 14, 135-136 

By size of business profits or loss 20-22 

Years, 1916 through 1937 44-47 

223 



224 INDEX 

c 

Capital gains and losses: Page 

Fiduciary income tax returns by balance income and deficit classes^ _ 174, 177 
Individual income tax returns: 

Amount and percent ■ ^■__ 12 

Explanatorj- text 10-1 1 

Frequency distribution, net income of $5,000 and over by net 
income classes: 

By size of net capital gain classes 23-24 

By size of net capital loss classes 25-26 

Net income classes 14, 135-136 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution by net income classes 16 

States ^ 131 

Tax on 36 

Years, 1922 through 1937, capital net gain 36, 42-46 

Years, 1924 through 1937, capital net loss 36, 43-46 

Capital stock in estate tax returns: 

By gross estate classes 76 

By net estate classes 54-75 

By taxable and nontaxable returns filed imder various Revenue Acts. _ 52-53 
Changes in tax laws aff"ecting comparability of statistical data: 

Estate tax returns :i_ 196-197 

Fiduciarv income tax returns 194-195 

Gift tax "returns 198 

Individual income tax returns 188-195 

Charitable bequests: 
Estate tax returns: 

By gross estate classes 76-95 

By net estate classes 54-75 

Bv taxable and nontaxable returns filed luider various Revenue 

'Acts 52-53 

Gift tax returns: 

Bv net gift classes 108-109 

By total gift classes 110-111 

Chemicals and allied products, individual income tax returns, net income of 
$5,000 and over: 

Profit and loss from business 28-29 

Cities and counties, number of individual income tax returns by 31 

Citizen and resident decedents, estate tax returns 48-51 

Collections of taxes and tax liability 3-4 

Community property income, individual income tax returns: • 

Credit for dei)endents 128 

Number and net income 9 

Net income classes 128 

States 124 

Personal exemption 128 

Comparability with previous years 4 

Construction, individual income tax returns, net income of $5,000 and 
over: 

Profit and loss from business 28-29 

By size of profit and loss 140 

Contributions, individual income tax returns: 

Amount and percent 12 

Net income classes 14, 136 

No net income: 

Amount of deduction for 30 

By deficit classes 170 

Percentage distribution by net income classes 16 

States . _ 132 

Years, 1917, 1920, 1922 through 1937 41-46 

Counties and cities, ninnber of individual income tax returns bv 31 



ixDEx 225 

Credits: Page 

Estate tax returns 54-87, 96-97 

Individual income tax returns: 

Allowed 5 

Dependents 10, 115-116, 126-129 

Earned income 10, 36, 118 

Personal exemption 10, 115-116, 125-129 

Personal exemption and credit for dependents, bv States 115-116 

Tax credits, years, 1923 through 1933 - 36 

Cumulative distribution, individual income tax returns: 

Number, net income, and tax 8, 119-121 

Curative service, individual income tax returns, net income of $5,000 and 
over: 

Profit and loss from business 28-29 

By size of profit and loss 141 

D 

Dei its, unpaid mortgages, etc., estate tax returns: 

By gross estate classes 76-95 

By net estate classes 54-75 

By taxable and nontaxable returns filed under various Revenue Acts__ 52-53 
Deductions: 

Elstate tax returns: 

By gross estate classes 76-95 

By net estate classes 54-75 

Bv taxable and nontaxable returns filed under various Revenue 

"Acts 52^53 

Fiduciary income tax returns, by balance income classes and by bal- 
ance deficit and income classes 174, 177-178 

Individual income tax returns: 

Amount and percent 12 

Business loss 12, 21-22, 131, 136 

Contributions 12, 14, 16,30,41-46, 132, 136, 170 

Interest paid 11, 12, 14. 16, 132, 137 

Net caijitalloss 10, 12, 14,25, 30,43-46, 131, 170 

Net income classes 14-15, 136-137 

No net income: 

Amount 30 

Deficit classes 170 

Partnership loss 12, 14,30,43-46, 131, 170 

Percentage distribution bv net income classes 16 

States 1 131-132 

Taxes paid 11, 12, 15, 16,47, 132, 137 

Years, 1916 through 1937 41-43 

Years, 1916 through 1937, net income $5,000 and over 44-47 

Deficit: 

Plduciary income tax returns by balance income and deficit classes.- 176-178 
Individual income tax returns: 

Amount 30 

Deficit classes 30, 170 

Defined 5 

States 169 

Dependents, credit for, individual income tax returns: 

Amount and percent 10 

Net income classes and under $5,000 by taxable and nontaxable re- 
turns 117 

Sex and familv relationship, bv net income classes 125-128 

States ■ ■_ 115-116 

Dividends on stock of domestic corporations: 

Fiduciary income tax returns by balance income and deficit classes.. 173, 176 
Individual income tax returns: 

Amount and percent 12 

Frequency distribution; net income $5,000 and over, by net in- 
come classes and by size of dividends 18-19 

Net income classes 13, 133 



226 INDEX 

Dividends on stock of domestic corporations — Continued. 
Individual income tax returns — Continued. 

No net income: I'ase 

Amount 30 

Deficit classes 170 

Percentage distribution bv net income classes 15 

States 1 130 

Years, 1916 through 1937 _-__ 41-43 

Years, 1916 through 1937, net income of $5,000 and over 44-47 

Domestic service, individual income tax returns, net income of $5,000 and 
over: 

Profit and loss from business 28-29 

By size of profit and loss 141 

E 

Earned income credit, individual income tax retiu'ns: 

Amount 10 

Net income classes 118 

Tax credit by years 36 

Educational service, individual income tax returns, net income of $5,000 
and over: 

Profit and loss from business 28-29 

By size of profit and loss 142 

Effective tax rate (percent), individual income tax returns: 

Amount, 1936-1937 6 

Net income classes 118 

Years, 1916 through 1937 40-41 

Engineering service, individual income tax returns, net income of $5,000 
and over: 

Profit and loss from business 28-29 

By size of profit and loss . 142 

Estates and trusts: 

Fiduciary income tax returns, taxable 171-178 

Individual income tax returns 9, 124, 129 

Personal exemption 129, 175 

Estate tax returns: 

Explanatory text 48-5 1 

Real estate value, by State of filing and by situs 98-104 

Resident decedent: 
Nontaxable: 

Deductions: 

By gross estate classes 88-95 

By Revenue Acts 52-53,90-95 

Gross estate by form of property: 

Bv gross estate classes 88-95 

By Revenue Acts 52-53, 90-95 

Number of returns: 

B V gross estate classes 88-95 

Bv Revenue Acts 52-53, 90-95 

BV States 96-97 

Revenue Act under which filed 52-53 

Taxable: 

Deductions: 

By gross estate classes 76-87 

Bv net estate classes 54r-75 

By Revenue Acts 52-53, 62-75, 80-87 

Gross estate by form of property: 

By gross estate classes 76-87 

Bv net estate classes 54-75 

By Revenue Acts 52-53,62-75,80-87 

Gross estate by States 96-97 

Net estate: 

By gross estate classes 76-87 

By net estate classes 54-75 

Bv Revenue Acts 52-53, 62-75, 80-87 

Bv States 96-97 



ixDEx 227 

Estate tax returns — Continued. 

Resident decedent — Continued. 

Number of returns: Page 

By gross estate classes 76-87 

By net estate classes 54-75 

By Revenue Acts 52-53, 62-75, 80-87 

By States 96-97 

Tax credits: 

By gross estate classes 77-87 

Bv net estate classes 55-75 

By Revenue Acts 62-75, 80-87 

For 1926 Act by States 96-97 

Tax liability: 

Additional tax 1932: 

By gross estate classes 77-87 

By net estate classes 55-75 

Bv Revenue Acts 63-75, 80-87 

For 1926 Act: 

By gross estate classes 77-87 

By net estate classes 55-75 

By Revenue Acts 63-75,80-87 

By States 96-97 

Total tax: 

By gross estate classes 77-87 

Bv net estate classes 55-75 

BV Revenue Acts 63-75, 80-87 

By States 96-97 

Resident and nonresident decedents, taxable and nontaxable: 

Historical summary, returns filed 1916 through 1938 105 

Rates, specific exemptions and credits against tax, Revenue Acts 

1916 through 1935 196-197 

Estimated returns, individual income tax returns 3 

Excess-profits tax: 

Individual income tax returns (footnote 3) 36 

Partnership returns (footnote 3) 36 

Exemptions : 

Estate tax returns 52-97 

Fiduciary income tax returns 175 

Gift tax returns 107, 109-111 

Individual income tax returns: 

Amount 10 

Net income classes 117 

Sex and family relationship 125-129 

States '. 115-116 

Exclusions, gift tax returns 106, 109-111 



Family relationship, sex and, individual income tax returns 9, 122-129 

Fiduciary income on individual income tax returns: 

Amount and percent 12 

Defined 11 

Net income classes 13, 134 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution by net income classes 15 

States 130 

Years, 1916, 1922 through 1937 41-43 

Years, 1916, 1922 through 1937, net income of $5,000 and over 44-47 

Fiduciary income tax returns (Form 1041) : 

Explanatory text 31-32 

With net income, taxable and nontaxable by balance income classes: 

Amount distributable to beneficiaries 175 

Balance income 175 



228 INDEX 

Fiduciary income tax returns (Form 1041) — Continued. P«ge 
With net income, taxable and nontaxable by balance income classes — 
Continued. 
Deductions: 

Business loss 174 

Interest paid 174 

Net capital loss 174 

Other deductions 174 

Partnership loss 174 

Taxes paid 174 

Total deductions 174 

Net income taxable to fiduciary 175 

Normal tax 175 

Number of returns 173 

Personal exemption 175 

Sources of income: 

Business profit 174 

Dividends from domestic and foreign corporations 173 

Income from fiduciaries 173 

Net capital gain 174 

Other income 174 

Partnership profit .--■ 173 

Rents and royalties 174 

Taxable interest: 

Bank deposits, notes, mortgages, etc 173 

Partially tax-exempt Government obligations 173 

Total income 174 

Surtax 1 75 

With no net income, by balance deficit and income classes: 

Amount distributable to beneficiaries 178 

Balance deficit or income 178 

Deductions: 

Business loss 177 

Interest paid 178 

Net capital loss 177 

Other deductions 178 

Partnership loss 177 

Taxes paid 178 

Total deductions 178 

Deficit 178 

Number of returns 176 

Sources of income: 

Business profit 177 

Dividends from domestic and foreign corporations 176 

Income from fiduciaries 176 

Net capital gain 177 

Other income 177 

Partnership profit 176 

Rents and royalties 176 

Taxable interest: 

Bank deposits, notes, mortgages, etc 176 

Partially tax-exempt Government obligations 176 

I'otal income 177 

Finance, individual income tax returns, net income of $5,000 and over: 

Profit and loss from business by subgroups 28-29 

By size of p'rofit and loss 143 

Fiscal year returns, individual income tax returns 2-3 

Food and kindred products, individual income tax returns, net income of 
$5,000 and over: 

Profit and loss from business 28-29 

Forest products, individual income tax returns, net income $5,000 and 
over: 

Profit and loss from business 28-29 

Forms for 1937: 

Individual income tax returns, 1040, 1040 A 202-213 

Fiduciary income tax return, 1041 - 214-217 

Partnership return, 1065 218-221 



INDEX 229 

Page 
Frequency distribution of selected sources of income and loss, individual 
income tax returns, net income of $5,000 and over, by net income classes 
a1id by size of each source of income and loss: 

Business profit 20-2 1 

Business loss 21-22 

Explanatorv text 16, 27 

Dividends/- 18-19 

Net capital gain 23-24 

Net capital loss 25-26 

Salaries and wages 17-18 

Funeral and administrative expenses, estate tax returns: 

By gross estate classes 76-95 

By net estate classes 54-95 

By taxable and nontaxable returns filed under various Revenue Acts. 52-53 

G 

Gains and losses (capital), individual income tax returns 10-11 

Geographic distribution, individual income tax returns 5 

Gift tax returns: 

Deductions 1 09-1 1 1 

Exclusions and exemptions 109-111 

Explanatory text 106-108 

Forms of property' ; 107-108 

Identical donors 108 

Net gift classes 108-109 

Number of returns, taxable and nontaxable 107 

Rates, Revenue Acts 1924, 1932, amended by 1934 and bv 1935 198 

Tax ; 107 

Total gift classes 109-110 

Trust, amount bv 107 

Years, 1932-1937 107 

Government securities, wholly and partially tax-exempt, individual income 

tax returns 32-34, 181-184 

Gross estate, estate tax returns: 

Gross estate classes 76-95 

Net estate classes 54-95 

States, citizen or resident decedents 96-97 

Taxable and nontaxable returns, filed under various Revenue Acts_- 52-53 
Years, 1916 through 1938, resident and nonresident decedents 105 

H 

Heads of families, classified, individual income tax returns: 

Credit for dependents 126-128 

Number and net income 9 

Net income classes 126-128 

States 122-123 

Personal exemption 126-128 

Historical data in Source Book 112 

Historical summaries: 

Estate tax returns: 

Resident and nonresident, 1916 through 1938 105 

Gift tax returns: 

Years, 1932 througli 1937 107 

Individual income tax returns: 

Effective tax rate (percent), 1916 through 1937 40-41 

Net income by net income classes, 1916 through 1937 38-39 

Number by net income classes, 1914 through 1937 36-37 

Sources of income, 1916 through 1937 41-47 

States, 1927 through 1937 144-168 

Tax by net income classes, 1916 through 1937 39-40 

Years, 1913 through 1937 35-36 

Husbands and wives, joint returns of, individual income tax returns: 

Credit for dependents 125 

Number and net income 9 

Net income classes 125-129 

States 122-124 



230 INDEX 

Husbands and wives, joint returns of individual income tax returns — Con. i'age 

Personal exemption 125 

Husbands filing separate returns: 

Credit for dependents 125 

Number and net income 9 

Net income classes 125 

States 122 

Personal exemption 125 

I 

Income. (See Individual income.) 

Income, balance. (See Fiduciary income.) 

Income tax. (See Individual income tax.) 

Income tax rates. (See Synopsis of income and profits tax rates.) 

Income tax returns. (See Individual income tax returns.) 

Income and profits taxes paid foreign countries 4 

Individual income: 
Net: 

Amount and percent 6, 12 

Average 6, 115-116 

Cumulative distribution by net income classes 8, 120 

Defined :. 5 

Exempt from normal tax 10 

Net income classes 5-6, 117 

Net income classes and by sex and family relationship 125-129 

Net income classes and by States 144-168 

Percentage distribution by net income classes 15-16 

Personal exemption and credit for dependents 10 

Sex and family relationship 9, 122-129 

Simple and cumulative distribution by net income classes 7-8 

Sources of income 11-15 

States 115-116 

States , and by sex and family relationshoip 1 22- 124 

Subject to normal tax 10 

Years, 1913 through 1937 35 

Years, 1916 through 1937, by net income classes 36-38 

Years, 1927 through 1937, States 144-168 

Nontaxable, under $6,000: 

Net income classes 117-118 

Net income classes and by States 144-168 

Sources of: 

Amount and percent 11-12 

Frequency distribution by net income classes and by size of each 

source of income and loss 16-26 

Net income classes 133-137 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution by net income classes 15-16 

Profit and loss from business, by industrial groups 28-29, 138-143 

Revised figures (footnotes 4, 18, 19, and 20 and 25) 46-47 

States 1 30- 1 32 

Years, 1916 through 1937 41-43 

Years, 1916 through 1937, net income of $5,000 and over 44-47 

Total: 

Amount and percent 12 

Net income classes 14, 135 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution, by net income classes 16 

States . 131 

Years, 1916 through 1937 41-43 

Years, 1916 through 1937, net income of $5,000 and over 44-47 



INDEX 231 

Individual income tax (see also Excess-profits tax): rago 

Amount, average, and rate on net income 6 

Average: 

For 1936 and 1937 6 

Net income classes US 

States 115-110 

Average rate of tax on net income (effective tax rate) : 

Net income classes ] 18 

«>i'ears, 1916 through 1937, bv net income classes 40-41 

Comparison, 1937 with 1936 6 

Credits (see also Credits) 36 

Cumulative distribution bj^ net income classes 8, 121 

Net income classes 118 

Net income classes and by States 144-168 

Normal tax: 

Net income classes 118 

Rates, Revenue Acts 1913 through 1937 189 

Years, 1913 through 1937 36 

Rates, Revenue Acts 1913 through 1937 188-195 

Simple and cumulative distribution by net income classes 121 

States 115-116, 144-168 

Surtax: 

Net income classes 118 

Rates, Revenue Acts 1913 through 1937 192-193 

Years, 1913 through 1937 36 

Total: 

Net income classes 118 

States 115-116 

Years, 1913 through 1937 36 

Years, 1916 through 1937, and bv net income classes 39-40 

Years, 1927 through 1937, States 144-168 

Individual income tax returns: 

Changes in tax laws affecting comparabilitv of statistical data: 

Credits 189, 194-195 

Personal exemption 189 

Rates, Revenue Acts 1913 through 1937 188-195 

Requirements for filing returns 188-189 

Supplemental rates and tax credits, Revenue Acts 1917 through 

1937 194-195 

Collections and tax liability 3-4 

Comparability with previous reports 4 

Comparison, 1937 with 1936 6 

Credit for dependents by net income classes 117 

Deductions in. (See Deductions.) 

Earned income credit 118 

Fiscal year returns tabulated 2-3 

Geographic distribution 5 

Method of compiling data, net income under $5,000 2-3 

Net income classes and under $6,000 bv taxable and nontaxable re- 
turns ■- 117-118 

Net income classes, by States, and under $6,000, by taxable and 

nontaxable returns 144-1 68 

No net income: 

Deficit classes 30, 1 70 

Number 30 

Requirements for filing returns 188 

Sources of income and deductions 30, 170 

States, number of returns and amount of deficit 169 

Number of: 

Counties, cities and towns 31 

Cumulative distribution 8. 119 

Frequency distribution by net income classes and by size of each 

source of income and loss 16-26 

Net income classes 117 

Net income classes by States 115-116, 144-168 

Net income classes by years, 1914 through 1937 36-37 

No net income 30, 170 



232 INDEX 

Individual income tax returns — Continued. 

Number of— Continued. Page 

Sex and family relationship 122-128 

Simple and cumulative distribution 119 

Sources of income and deductions 133-137 

States 115-116 

States by net income classes 144-168 

Taxable and nontaxable returns, by years, 1916 through 1937 35 

Years, 1913 through 1937 •-_ 35 

Years, 1937 and 1936 compared 6 

Years, 1927 through 1937, by States 144-168 

Percentage of population filing returns by States 115-116 

Personal exemption and credit for dependents by States 115-116 

Personal exemption by net income classes 117 

Population by States 115-116 

Procedu.re in tabulation 3 

Profit and loss from business by industrial groups . 28-29 

Sex and family relationship: 

Amount and percent 9 

Credit for dependents 125-129 

Net income classes, and under $6,000, bv taxable and nontaxable 

returns 125-129 

Personal exemption 1 25-129 

States 122-124 

Simple and cumulative distribution by net income classes 8, 119 

Sources of income and deductions: 

Amount and percent 12 

Explanatory text 1 1-13 

Frequency distribution by net income classes and by size of each 

source of incoine and loss 1 7-26 

Net income classes 13-15, 133-137 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution bv net income classes 15-16 

. States 1 - 130-132 

Years, 1916 through 1937 41-43 

Years, 1916 through 1937, net income of $5,000 and over 44-47 

States 115-116, 144-168 

Tax-exempt obligations 181-184 

Unaudited returns tabulated 3 

Years, bv net income classes 36-40 

Years, 1913 through 1937 35-36 

Individuals required to file returns, 191V through 1937 188-189 

Insurance: 

Estate tax returns: 

By gross estate classes 76-95 

By net estate classes 54-75 

Bv taxable and nontaxable returns filed under various Revenue 

"Acts 52-53 

Gift tax returns by net gift classes 108 

Interest, taxable: 

Fiduciary income tax returns, by balance income and deficit classes.- 173, 176 
Individual income tax returns: 

Amount and percent 12 

Bank deposits, notes, mortgages, corporation bonds _ 12,13,15,130,133-134 

Net income classes 13, 133-134 

No net income: 

Amount 30 

Deficit classes 170 

Partially tax-exempt 12, 13, 15, 130, 133-134 

Percentage distribution bv net income classes 15 

States '- 130 

Years, 1919 through 1937 41-43 

Years, 1919 through 1937, net income of $5,000 and over 44-47 

Investment brokers, real estate, etc., individual income tax returns, net 
income of $5,000 and over: 

Profit and loss from business 28-29 

Bv size of nrofit and loss 143 



INDEX 233 

Investment in bonds, stocks, etc.: 

Estate tax returns: Page 

B}' gross estate classes 76-95 

By net estate classes 54-75 

Bv taxable and nontaxable returns tiled under various Revenue 

'Acts 52-53 

Gift tax retiu-ns 108 

J 

Joint returns of husbands and wives, individual income tax returns: 

Credit for dependents 125 

Number of returns and amount of net income 9 

Net income classes 125-129 

States 122-124 

Personal exemption 125 

Jointlv owned propertv, estate tax returns (footnotes — 6, p. 53; 3, p. 61; 
4, p. 71; 4, p. 73; 6, p. 75: 3, p. 79; 3, p. 89; 4, p. 91; 4, p. 93; 6, p. 95). 

L 

Labor and salaries, individual income tax returns, net income of $5,000 and over: 

Profit and loss from business by industrial groups 28-29 

Leather and its manufactures, individual income tax returns, net income 
of $5,000 and over: 

Profit and loss from business 28-29 

Legal service, individual income tax returns, net income of $5,000 and 
over: 

Profit and loss from l)usiness 28-29 

By size of i^rofit and loss 142 

Li()uors and beverages, individual income tax returns, net income of $5,000 
and over: 

Profit and loss from business 28-29 

Loss from lousiness. {See Profit and loss from business.) 
Loss, capital net. {See Capital gains and losses.) 

Loss from sale of real estate, stocks, bonds, etc., individual income tax 
returns : 

Years, 1920 through 1933 41-43 

Years, 1926 through 1933, net income of $5,000 and over 44-47 

M 

Manufacturing, individual income tax returns, net income of $5,000 and 
over: 

Profit and loss from business, by subgroujis 28-29 

Manufacturing not elsewhere classified, individual income tax returns, net 
income of $5,000 and over: 

Profit and loss from business 28-29 

Men, individual income tax returns: 

Credit for dependents 125-126 

Number and amount of net income 9 

Net income classes 125-126 

States 1 22- 1 24 

Personal exemption 125-126 

Metal and its products, individual income tax returns, net income of $5,000 
and over: 

Profit and loss from business 28-29 

Mining and quarrying, individual income tax returns, net income of $5,000 
and over: 

Profit and loss from business 28-29 

By size of profit and loss 139 

Mortgages, notes, cash, etc., estate tax returns: 

By gross estate classes 76-95 

By net estate classes 54-75 

By taxable and nontaxable returns filed under various Revenue Acts_ 52-53 



234 INDEX 

N 

Page 

National Industrial Recovery Act 188 

Nature of business not given, individual income tax returns, net income of 
$5,000 and over: 

Profit and loss from business 1 28-29 

By size of profit and loss 143 

Net capital gain: 

Fiduciary income tax returns 174, 177 

Individual income tax returns 10-11, 12, 14, 16, 23-24, 131, 135 

Net capital loss: 

Fiduciarv income tax returns 174, 177 

Individual income tax returns 10-11, 12, 14, 16, 25-26, 131, 136 

Net estate, estate tax returns (see also Estate tax returns) : 

Defined 48 

Net estate classes 54-75 

Revenue Acts 52-53 

States 96-97 

Years, 1916 through 1938 105 

Net income. (See Fiduciary income; Individual income.) 

Net income exempt from normal tax, individual income tax returns: 

Amount and percent 10 

No net income: 

Fiduciary income tax returns 176-178 

Individual income tax returns -_ 30, 170 

Normal income tax: 

Fiduciarj^ income tax returns 175 

Individual income tax returns 36, 118 

O 

Obligations of States and Territories, etc.: 

AmouTit owned and interest received returns with net income of $5,000 
and over, by net income classes: 

Individual income tax returns 181-182 

Fiduciarv income tax returns 183-184 

Obligations issued under Federal Farm Loan Act: 

Amount owned and interest received returns with net income of $5,000 
and over, by net income classes: 

Individual income tax returns 181-182 

Fiduciary income tax returns 183-184 

Other income: 

Fiduciary income tax returns bj- balance income and deficit classes. _ 174, 177 
Individual income tax returns: 

Amount and percent 12 

Net income classes 14, 137 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution bv net income classes 16 

States *- 131 

Years, 1927 through 1937 41-43 

Years, 1927 through 1937, net income of $5,000 and over 44-47 

P 

Paper, pulp, and products, individual income tax returns net income of 
$5,000 and over: 

Profit and loss from business 28-29 

Partially tax-exempt obligations. {See Wholly and partially tax-exempt 

obligations.) 
Partnership profit and loss: 

Fiduciary income tax returns by balance income and deficit classes. 173-177 
Individual income tax returns: 

Amount of profit and loss, and percentages 12 

Defined 11 

Loss, by net income classes 14, 131 



INDEX 235 

Partnership profit and loss — Continued. 

Individual income tax returns — Continued. Page 

Net income classes 13-14 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution, by net income classes 15-16 

Profit by net income classes 13, 130 

States--' 130-131 

War and excess-profits tax (footnote 4) 36 

Years, 1917 through 1937 41-43 

Years, 1917 through 1937, net income of $5,000 and over 44-47 

Partnership loss. {See Partnership profit and loss.) 
Partnership returns of income: 

Number by years, 191 7 through 1937 34 

Personal exemption: 

Fiduciary income tax returns by balance income classes 175 

Individual income tax returns: 

Amount and percent 10 

Net income classes, and under $6,000, by taxable and nontaxable 

returns 117 

Sex and familv relationship 125-129 

States ; 115-116 

Population of the United States, estimated as of July 1, 1937, by States- 115-116 
Power of appointment, estate tax returns. {See Jointly owned property.) 
Printing, publishing, and allied industries, individual income tax returns, 
net income of $5,000 and over: 

Profit and loss from business 28-29 

Profit and loss from business, individual income tax returns, net income 
of $5,000 and over: 

By industrial groups 28-29 

Profit from sale of real estate, stocks, bonds, etc., individual income tax 
returns: 

Years, 1917 through 1933 41-42 

Years, 1917 through 1933, net income of $5,000 and over 44-45 

Property in estate tax returns, classified 52-95 

Property previously taxed, estate tax returns. {See Jointly owned property.) 

Q 

Quarrying, individual income tax returns. {See Mining and quarrying.) 

R 
Real estate: 

Estate tax returns: 

By gross estate classes 76-95 

By net estate classes 54-75 

Bv taxable and nontaxable returns filed under various Revenue 

Acts 52-53 

Gift tax returns by total gift and net gift classes 107-108 

Individual income tax returns, net income of $5,000 and over: 

Profit and loss from business ^^-- 28-29' 

By size of profit and loss 143 

Rents and royalties: 

Fiduciary income tax returns by balance income and deficit classes - - 174, 176 
Individual income tax returns: 

Amount and percent 12 

Net income classes 14, 134 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution bv net income classes 16 

States 1 130 

Years, 1916 through 1937 41-43 

Years, 1916 through 1937, net income of $5,000 and over 44-47 

186585—40 16 



236 INDEX 

Page 

Requirements for filing; individual income tax returns.. 188-189 

Retail trade, individual income tax returns, net income of $5,000 and over: 

Profit and loss from business 28-29 

Returns tabulated, individual income tax returns 3 

Returns on Form 1040; no net income, individual income tax returns: 

Deficit classes : 30 

Sources of income and deductions 170 

States 169 

Revenue Acts, 1913 through 1937: 

Estate tax returns; tax rates, specific exemption, and credits against 

estate tax 196-197 

Excess-profits tax rates 194-195 

Fiduciary income tax returns 188-195 

Gift tax returns; tax rates, specific exemption, exclusions 198 

Individual income tax returns: 

Required to file returns; personal exemption; credit for dependents 

and normal tax rates 188-189 

Supplemental income and profits tax rates and tax credits 194-195 

Surtax rates 1 92-193 

Revised figures — Sources of income and deductions (footnotes 4, 18, 19, 20, 

and 25) 46-47 

Royalties. {See Rents and royalties.) 

Rubber products, individual income tax returns, net income of $5,000 and 
over: 

Profit and loss from business 28-29 

S 

Salaries, wages, commissions, fees, etc., individual income tax returns: 

Amount and percent 12 

Frequency distribution by net income classes; net income of $5,000 and 

over, by size of salary and wage classes 17-18 

Net income classes 13, 133 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution bv net income classes 15 

States - 130 

Years, 1916 through 1937 41-43 

Years, 1916 through 1937; net income of $5,000 and over 44-47 

Salaries and labor; business profit and loss bv industrial groups and sub- 
groups 28-29 

Sampled returns; individual income tax returns 3 

Securities, wholly and partially tax-e.xempt 181-184 

Service, individual income tax returns, net income of $5,000 and over: 

Profit and loss from business by subgroups 28-29 

By size of profit and loss 141 

Sex and familv relationship, individual income tax returns: 

Credit for dependents 125-129 

Number of returns and amount of net income 9 

Net income classes 125-129 

States 122-124 

Personal exemption 125-129 

Simple and cumulative distribution of individual income tax returns 7-8 

Sources of income and deductions: 

Fiduciary income tax returns by balance income and deficit classes. 173-178 
Individual income tax returns: 

Amount and percent 12 

Explanatory text . 1 1-13 

Frequency distribution; net income of $5,000 and over, by net 

income classes and by size of each source of income and loss-. 16-26 

Net income classes 13-15, 133-137 

No net income: 

Amount 30 

Deficit classes -- — -- 170 

Percentage distribution by net income classes 15-16 



INDEX 237 

Sources of income and deductions — Continued. 
Individual income tax returns — Continued. 

No net income — Continued. Page 

Revised figures (footnotes 4, 18, 19^ 20, and 25) 46-47 

States 130-132 

Years, 1916 through 1937 41-43 

Years, 1916 through 1937; net income of $5,000 and over..- 44-47 
State and municipal bonds, estate tax returns: 

By gross estate classes 76-95 

By net estate classes 54-75 

By taxable and nontaxable returns, filed under various Revenue Acts. 52-53 
Stocks and bonds: 

Estate tax returns: 

By gross estate classes 76-95 

By net estate classes 54-75 

By taxable and nontaxable returns y filed under various Revenue 

'Acts 52-53 

Gift tax returns, by total gift and net gift classes 109-1 1 1 

Stone, clay and glass products, individual income tax returns; net income 
of $5,000 and over: 

Profit and loss from business 28-29 

Surtax. (See Fiduciary income tax returns; Individual income tax re- 
turns.) 

Surtax net income, individual income tax returns 3 

Synopsis of individual income tax rates: Estate tax rates and Gift tax 
rates : 

Credits and exemptions, affecting comparability of data in Statistics 

of Income 188-198 

T 

Tax collections compared with tax liability 3-4 

Tax credits: 

Earned income, years 1924 through 1931 36 

Capital net loss, 'years 1924 through 1933 36 

Tax Hability 6 

Taxes. (See Estate tax; Fiduciary income tax; Gift tax; Individual 

income tax.) 
Taxes paid: 

Fiduciary income tax returns by balance income and deficit classes _ _ 174, 178 
Individual income tax returns: 

Amount and percent ^ 12 

Defined 11 

Net income classes 15, 137 

No net income: 

Amount 30 

Deficit classes 170 

Percentage distribution by net income classes, net income of 

$5,000 and over 16 

States 132 

Years, 1933 through 1937 41-43 

Years, 1928 through 1937, net income of $5,000 and over 44-47 

Taxes paid at source 4 

Tax-exempt income. (See Wholly and partially tax-exempt obligations.) 
Tax-exempt investments: 

Estate tax returns 52-95 

Fiduciary income tax returns 183-184 

Individual income tax returns bv net income classes 181-182 

Tax forms for 1937—1040, 1040A, 1041, and 1065 202-221 

Textiles and their products, individual income tax returns, net income of 
$5,000 and over: 

Profit and loss from business 28-29 

Tobacco products, individual income tax returns, net income of $5,000 and 
over : 

Profit and Igss from lousiness 28-29 



238 INDEX 

Page 
Trade, wholesale, retail, wholesale and retail, individual income tax returns, 
net income of $5,000 and over: 

Profit and loss from business 28-29 

By size of profit and loss 140-141 

Transfers made in contemplation of death, estate tax returns. {See Jointly 

owned property.) 
Transportation and other public utilities, individual income tax returns, 
net income of $5,000 and over: 

Profit and loss from business 28-29 

By size of profit and loss 140 

Treasury notes, Treasury bills and certificates of indebtedness, etc., net 
income of $5,000 and over: 

Amount owned and interest received by net income classes: 

Fiduciary income tax returns 183-184 

Individual income tax returns.- 181-182 

Trusts; gift tax returns, by form of property 107 

U 

United States Government bonds, wholly and partiall}' tax-exempt, net 
income of $5,000 and over: 

Fiduciary income tax returns 183-184 

Individual income tax returns - 181-182 

W 

Wages, salaries, commissions, etc., individual income tax returns. {See 
Salaries, wages, etc.) 

War-profits and excess-profits tax (footnote 3) 36 

Wholesale trade, individual income tax returns, net income of $5,000 and 
over: 

Profit and loss from business 28-29 

By size of profit and loss 140 

Wholly and partially tax-exempt obligations, net income of $5,000 and 
over: 

Fiduciary income tax returns: 

Amount owned and interest received by balance income classes: 

Nontaxable returns 184 

Taxable returns 183 

Individual income tax returns: 

Amount owned and interest received by net income classes 181-182 

Wives and husbands. {See Joint returns of husbands and wives.) 
Wives filing separate returns: 

Credit for dependents 126 

Number of returns and amount of net incozne 9 

Net income classes 126 

States 122 

Personal exemption 126 

Women, individual income tax returns: 

Credit for dependents 127-128 

Number of returns and amount of net income 9 

Net income classes 125-129 

States 122-124 

Personal exemption 127-128 

o 



STATISTICS OF INCOME 
FOR 1937 

PART 2 

COMPILED FROM CORPORATION INCOME AND 

EXCESS-PROFITS TAX RETURNS AND PERSONAL 

HOLDING COMPANY RETURNS 



UNITED STATES TREASURY DEPARTMENT 
BUREAU OF INTERNAL REVENUE - WASHINGTON. D. C. 



U. S. TREASURY DEPARTMENT 

BUREAU OF INTERNAL REVENUE 



STATISTICS OF INCOME 
FOR 1937 



PART 2 

COMPILED FROM CORPORATION INCOME AND 

EXCESS-PROFITS TAX RETURNS AND 

PERSONAL HOLDING COMPANY 

RETURNS 



PREPARED UNDER DIRECTION OF THE 
COMMISSIONER OF INTERNAL REVENUE 

BY THE 

STATISTICAL SECTION. INCOME TAX UNIT 




UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON : 1940 



For sale by the Superintendent of Documents, U'aishJngton. D.C. 



Price 25 cents 



U. S. SUPERINTENDENT OF DOCUMENTS, 

AUG 29 1940 



CONTEXTS 

Pagv 



Official transmittal 1-46 

CORPORATION INCOME AND EXCESS-PROnXS TAX RETURNS 

Returns tabulated 1 

Definitions of gross income, deductions, net income, and tax 2 

Tax liability and collections- 2-3 

Comparability with previous reports 3-4 

Industrial classification 4 

Geographic distribution 4 

Number of returns, net income or deficit, and tax 5 

Bj' major industrial groups 5-8 

By net income and deficit classes 8-9 

Surtax on undistributed profits 10-15 

Dividends received, interest received on Government obligations and divi- 
dends paid, bv net income and deficit classes 15-18 

Dividends paid,' 1922-37 18-19 

Compiled receipts and compiled deductions 19-20 

Corporations submitting and not submitting balance sheets 21 

Assets and liabilities 22-26 

Corporations submitting balance sheets, returns with net income and 

with no net income 22 

Number of corporation returns filed and number of balance sheets, by 

net income and deficit classes 23 

Gross capital assets, reserves for depreciation and depletion (except 

on land), and net capital assets, by major industrial groups 24r-25 

Assets and liabilities, compiled receipts and compiled deductions, by total 

assets classes 26-27 

Returns with net income and with no net income 26-27 

Consolidated returns of railroads 27-29 

Compiled receipts, compiled deductions, net income or deficit, normal 
tax, surtax on undistributed profits, excess-profits tax, total tax, 

and dividends paid •- 28 

Assets and liabilities 29 

Fiscal year returns 29-30 

By month in which fiscal year ended 30 

By net income and deficit classes 30 

Part year returns 30-31 

Frequency distribution of corporation returns by certain basic classifica- 
tions 31 

HISTORICAL SUMMARIES. CORPORATION INCOME AND EXCESS-PROFITS 

TAX RETURNS 

Number of returns, gross income, net income or deficit, and taxes, by 

returns with net income and with no net income, 1909-37 32-33 

Number of returns, and net income or deficit, bv net income and deficit 

classes, 1934-37 1 _ 34 

Number of returns, compiled receipts and compiled deductions, 1926-37-. 35-36 

Corporations submitting balance sheets: Number of returns, assets and 
liabilities 1926-37, and compiled receipts and compiled deductions 
1931-37 1 37-38 

PERSONAL HOLDING COMPANY RETURNS 

General explanations 39-43 

Returns filed under the provisions of the Revenue Act of 1936, as amended 
by the Revenue Act of 1937, by types of returns: Number of returns, 
net income or deficit, additions, deductions, adjusted net income or 
deficit, credits, undistributed adjusted net income or deficit, and surtax. _ 42 

ni 



IV CONTENTS 

Page 
Returns filed under provisions of the Revenue Act of 1936, by types of 
returns: Number of returns, net income or deficit, deductions, adjusted 
net income or deficit, credits, undistributed adjusted net income or 

deficit, surtax 43 

Number of returns by adjusted net income classes 44 

HISTORICAL DATA IN SOURCE BOOK 

Statement of contents of Source Book 44-45 

Method of securing data 46 

BASIC TABLES— CORPORATION INCOME AND EXCESS-PROFITS TAX 
RETURNS 

United States in aggregate (1-7, 9-12): 

1. By States and Territories and by returns with net income and with 

no net income: Number of returns, gross income, deductions, 

net income or deficit, and taxes 48-49 

2. By major industrial groups and subgroups and by returns with net 

income and with no net income: Number of returns, gross in- 
come, net income or deficit, and taxes 50-57 

3. Compiled receipts and compiled deductions, by major industrial 

groups: 

All returns 58-61 

Returns with net income 62-65 

Returns with no net income 66-69 

4. Corporations submitting balance sheets, by major industrial groups 

and by returns with net income and with no net income: Assets 

and liabilities and compiled receipts and compiled deductions 70-79 

5. Corporations submitting balance sheets, by total assets classes: 

Assets and liabilities and compiled receipts and compiled deduc- 
tions: 

All returns with balance sheets 80-81 

Returns with net income 82-83 

Returns with no net income 84-86 

6. Corporations submitting balance sheets, by total assets classes and 

by major industrial groups (by returns with net income and 
with no net income) : Selected items of assets, liabilities, and 
receipts 87-139 

7. Historical summary, 1928-37, by major industrial groups and by 

returns with net income and with no net income: Number of 

returns, gross income, net income or deficit and taxes 140-145 

Frequency distributions of — 

Returns with balance sheets showing assets of $250,000 and 
over — • 

9. By total receipts classes, cross-classified by total assets 
classes, bj- returns with net income and with no net 

income and by major industrial groups 159-169 

10. By net income or deficit classes, cross-classified by total 

receipts classes and by major industrial groups 170-187 

11. Returns with balance sheets, by net income or deficit classes, 

cross-classified by total assets classes and by major indus- 
trial groups 188-205 

12. Returns by net income or deficit classes, cross-classified by 

dividends received classes and by certain major industrial 

groups 206-220 

States and Territories separately (8) : 

8. Historical summary, 1928-37, by returns with net income and 

with no net income: Number of returns, gross income, net 
income or deficit and taxes 146-156 

REVENUE ACTS OF 1913-37 AND CERTAIN TAX PROVISIONS OF THE NATIONAL 
INDUSTRIAL RECOVERY ACT (1933); ALSO THE SPECIAL EXCISE TAX UNDER 
THE ACT OF AUGUST 5, 1909— SYNOPSIS OF CORPORATION INCOME AND 
PROFITS TAX RATES AND CREDITS AFFECTING THE COMPARABILITY OF 

DATA IN "STATISTICS OF INCOME". 221-227 

INCOME TAX FORMS 

Facsimiles of Forms 1120, 1120L, and 1120H for 1937 229-249 

Index._ 251 



STATISTICS OF INCOME FOR 1937 



PART 2 



CORPORATION INCOME AND EXCESS-PROFITS TAX RETURNS AND 
PERSONAL HOLDING COMPANY RETURNS 

Treasury Department, 
Office of Commissioner of Internal Revenue, 

Washington, D. C, May 27, 1940. 

Sir: In accordance with the provision in the Revenue Act of 1916 
and subsequent acts requiring the publication annually of statistics 
with respect to the operation of the income, war-profits, and excess- 
profits tax laws, I have the honor to transmit herewith a report entitled 
"Statistics of Income for 1937, Part 2," prepared from corporation 
income and excess-profits tax returns and personal holding company 
returns for 1937 filed during 1938, with a historical presentation of 
the income and of the tax liability reported by corporations from 
1909 to date. (Statistics compiled from individual income tax 
returns, fiduciary income tax returns, and gift tax returns for 1937, 
and estate tax returns filed during 1938, are published in Statistics of 
Income for 1937, Part 1.) 

CORPORATION INCOME AND EXCESS-PROFITS TAX RETURNS 

returns tabulated 

In general, the corporation income and excess-profits tax returns 
covered by this report are for the calendar year 1937. However, a 
considerable number of returns are filed for a fiscal year other than a 
calendar year. Such returns for a fiscal year ended in the period 
July 1937 through June 1938 are tabulated with the calendar year 
returns. There are also included part year returns for wliich the 
greater part of the accounting period falls in 1937. 

The returns for 1937 are filed under the provisions of the Revenue 
Act of 1936, as amended by the Revenue Act of 1937 (except the excess- 
profits tax reported on returns in accordance with the provisions of 
the Revenue Act of 1935, as amended by the Revenue Act of 1936). 
The major changes made by these acts are set forth in the section of 
this report entitled "Revenue Acts 1913-37 and certain tax provisions 
of the National Industrial Recovery Act (1933), also the special excise 
tax under the act of August 5, 1909," pages 221-227. 

The general tables for corporations include aggregates for all 
returns covered by this report, as well as separate tabulations for 
returns with net income and with no net income. The statistics are 
compiled from returns as filed and prior to revisions that may be 
made as a result of audit by the Bureau of Internal Revenue. 



2 STATISTICS OF INCOME 

DEFINITIONS OF GROSS INCOME, DEDUCTIONS, NET INCOME AND TAX 

"Gross income" and "deductions" correspond to "total income" 
and "total deductions" (items 14 and 27, respectively, schedule A, 
p. 2 of return), plus in each instance "cost of goods sold" and "cost 
of operations" (items 2 and 5, respectively, schedule A, p. 2 of return). 
All negative income amounts reported under sources of income are 
transferred to deductions, increasing both "gross income" and "de- 
ductions" by the same amount. References in this and succeeding 
paragraphs are to item numbers on Form 1120, facsimile of which 
appears on pages 232-241. 

The amount of "net income" is the "net income for excess-profits tax 
computation" (item 28, schedule A, p. 2 of return) and represents the 
amount of gross income as defined above in excess of deductions; and 
"deficit" represents the excess of deductions over gross income. 
These items of net income and deficit for 1937 are tabulated in the 
same manner as those for the returns for 1936 which were published 
in the Statistics of Income for 1936, Part 2. Unlike years prior to 
1936, net income includes dividends received on stock of domestic 
corporations (subject to taxation under Title I of the effective revenue 
act), and interest received on certain Government obligations, which 
is subject to excess-profits tax and excludes contributions or gifts 
(limited to 5 percent of net income before deduction of contributions 
or gifts). 

The amount tabulated as "normal tax" consists of the graduated 
normal tax and the fiat normal tax for corporations exempt from the 
graduated rates. The surtax on undistributed profits is the amount 
reported on returns of corporations which are subject to the surtax 
and for which the credits for dividends paid and for contracts re- 
stricting dividend payments are not in excess of adjusted net income. 
The income tax liability shown in this report represents an amount 
prior to the allowance of credit claimed for income tax paid to a 
foreign country or United States possession. 

The "excess-profits tax" tabulated in this report is the tax liability 
shown as item 8, page 1 of the return. This amount is the same as 
that taken as a deduction in the computation of net income for income 
tax purposes, which is reported as item 29, schedule A, page 2 of the 
return, unless the return is rendered on a cash basis. If the cash basis 
of accounting is used, the deduction (item 29, schedule A, p. 2 of the 
return) is the amount of excess-profits tax actually paid within the 
taxable year covered by the return. For 1937, this deduction item is 
$43,058,777, which is $276,658, or 0.6 percent, less than the amount 
of the tax liability tabulated herein. In the Statistics of Income for 
1936, Part 2, the tabulated amount of excess-profits tax was the de- 
duction item used in the computation of net income. 

TAX LIABILITY AND COLLECTIONS 

The amount of tax liability as reported on the returns is not pre- 
cisely comparable with the amount of corporate income tax collections 
during the calendar year in which the returns are filed. Several 
factors are responsible for the difference in the tax collected and the 
tax liability reported on the returns, among which are the following: 

1. The amount of tax originally reported may have been revised as 
the result of audit of the returns. The revisions may result in addi- 
tional assessments, thereby increasing the tax liability, or in certifi- 



STATISTICS OF INCOME 3 

cates of overassessment, representing abatements and credits, which 
reduce the tax Habihty originally reported. An amended return has 
the same effect as an audit revision. 

2. Income and profits taxes paid to foreign coimtries or possessions 
of the United States may be taken as a deduction from gross income 
or applied with certain limitations as a credit against the income tax 
payable to the United States. When used as a credit, the amount 
cannot exceed the proportion of the total tax against which the credit 
is taken that the taxpayer's net income from sources without the 
United States bears to the taxpayer's entire net income. The amount 
of such taxes taken as a credit by corporations against the income tax 
liability to the United States has not been deducted from the income 
tax liability shown in the tabulations in this report. For the amount 
of this credit for the years 1925 through 1935, see the Statistics of 
Income for 1935, Part 2, page 8. 

3. Income tax paid at source on tax-free covenant bonds, because 
of being assessed against the debtor corporation, is included in the 
corporation income tax collections, notwithstanding the fact that it is 
paid on behalf of individual holders of bonds. 

4. For fiscal year returns on which the tax is paid in four equal 
installments, the total tax liability may not be collected during the 
calendar year in which the returns are filed. Fiscal year returns are 
required to be filed on or before the 15th day of the third month after 
the end of the fiscal year, and payment, as in the case of calendar year 
returns, is required at the time the return is filed, or in four quarterly 
installments. The first of the quarterly installments is due when the 
return is filed. Thus, during the calendar year 1938, collections were 
made of part or all of the taxes reported on returns for a fiscal year 
ended in period January 31, 1937, through September 30, 1938 (the 
last quarterly installment payment being due on or before January 
15, 1938, and the filing of returns and the full payment or first install- 
ment paj^ment being due on or before December 15, 1938); whereas 
there are excluded from the statistics in this report, as previously 
indicated, the returns for a fiscal year ended prior to July 1937 and 
subsequent to June 1938. 

5. Tabulations in this report exclude data reported on nonresident 
foreign corporation income tax returns, Form 1120NB, whereas col- 
lections in the current year include taxes on these returns. Form 
1120NB is required unless a tax of 10 percent has been withheld at the 
source on dividends and a tax of 15 percent has been withheld at the 
source on all other items of taxable income (interest, rents, royalties, 
etc.) received during the year from sources within the United States. 

6. Delays in payment caused by financial embarrassment, liquida- 
tion of business, and other reasons result in collections of taxes after 
the close of the year in which such taxes are due. Such collections 
are classified as "back taxes." For similar reasons, certain amounts 
are uncollectible. 

7. Collections in the current year include interest and penalty items 
received in connection with delinquent payments. 

COMPARABILITY WITH PREVIOUS REPORTS 

In various sections of this report reference is made to conditions 
aft'ecting the comparability of specific items from year to year, such 
as changes in the provisions of the revenue acts under* which the 
returns for given years are filed. In particular it must be noted that 



4 STATISTICS OF INCOME 

certain data and classifications of the returns for 1934 through 1937 
are not strictly comparable with those for prior years (see Statistics 
of Income for 1934, Part 2, pp. 19-29), and, furthermore, that certain 
data and classifications of the returns for 1936 and 1937 are not 
strictly comparable with those for 1934 and 1935. For the 1936 and 
1937 returns, gross income, deductions, compiled receipts, compiled 
deductions, compiled net profit, net income, deficit, and tax liability, 
as well as the classification of the returns with net income and with 
no net income, are materially affected by the provisions of the Revenue 
Act of 1936. The major changes contained in the provisions of this 
act, affecting the tabulated data for corporations, are summarized in 
the section of this report entitled "Revenue Acts of 1913-37 and cer- 
tain tax provisions of the National Industrial Recovery Act (1933) ; also 
the special excise tax under the act of August 5, 1909," pages 221-227. 

Industrial classification. — Corporations are classified industrially 
according to their predominant business. The industrial groups, 
therefore, do not contain solely corporations engaged exclusively in 
the industries in which they are classified, because of the diversified 
activities of many corporations. The industrial classification for 1934 
through 1937 is not strictly comparable with that for prior years, by 
reason of the discontinuance, under the Revenue Act of 1934, of the 
privilege of filing consolidated returns, except by railroads. Returns 
formerly filed on a consolidated basis were classified according to the 
predominant business of the consolidated group, whereas the industrial 
classification for returns with year ended December 31, 1934, or there- 
after, is based on the predominant business of each separately incor- 
porated concern (except in the case of an affiliated railroad group 
which exercises the privilege of filing a consolidated return). 

Geographic distribution. — The data, although tabulated by States 
in which the returns are filed, do not represent what may be called 
the geographic distribution of income. There is no way of ascertain- 
ing from income tax returns the amount of income originating in the 
respective States or the amomit of tax paid on that basis, since 
income reported by a corporation in one State may have been derived 
from sources in other States. Returns are filed in the collection dis- 
trict in which the principal place of business or principal office of the 
corporation is located, except that consolidated returns of affiliated 
groups of railroad companies are filed in the collection district of the 
parent company. 

The industrial classification and the geographic distribution are not 
strictly comparable from year to year by reason of changes in the 
financial structure of corporations and in the provisions of the revenue 
acts affecting the filing of returns. Certain definite results are that 
separate returns for each concern of affiliated groups of companies 
which formerly filed on a consolidated basis may or may not be filed 
in the same collection districts as heretofore, depending on whether 
or not the principal place of business or principal office of the affiliated 
companies is in the same collection district as that of the parent 
company. _ Moreover, such subsidiary or affiliated companies may 
lose their identity and therefore discontinue filing income tax returns 
on their own account through being merged in the financial structure 
of the parent company as branches or departments instead of con- 
tinuing as separate entities, or the reverse may result through the 
transfer of the ownership of subsidiary concerns or branches, or 
setting them up as separate corporations. 



STATISTICS OF INCOME 5 

NUMBER OF RETURNS. NET INCOME OR DEFICIT, AND TAX 

The number of corporation income and excess-profits tax returns 
for 1937, filed during the calendar year 1938, is 529,097, of wliich 
192,028 show net income amounting to $9,634,836,716, while 285,810 
show a deficit of $2,280,845,542, and 51,259 have no income data. 
The normal tax is $1,056,939,166, the surtax on undistributed profits 
$175,897,696, the excess-profits tax $43,335,435, and the total tax 
$1,276,172,297. 

The amount tabulated as normal tax consists of a graduated normal 
tax of $1,022,827,362 and a flat normal tax of $34,111,804 for cor- 
porations exempt from the graduated rates. The surtax is reported 
on returns of corporations other than those which are exempt from the 
surtax. A special tabulation of the surtax Hability and a statement 
of the rates of the surtax appear in the section of this report entitled 
"Surtax on undistributed profits," pages 10-15. 

A comparison of the data for 1937 with the data for 1936 shows that 
the number of returns with net income decreased 11,133, or 5.5 
percent, and the net income increased $156,595,241, or 1.7 percent. 
The normal tax increased $32,146,228, or 3.1 percent, surtax on un- 
distributed profits increased $30,925,412, or 21.3 percent, excess-profits 
tax increased $21,722,884, or 100.5 percent, and total tax increased 
$84,794,524, or 7.1 percent. The number of returns with no net in- 
come increased 10,114, or 3.7 percent, and the deficit increased 
$128,821,827, or 6.0 percent. 

Separate tabulations for fiscal year returns and for part year returns, 
shown on pages 29-31, make it possible to segregate certain data for 
the calendar year accoimting period. 

MAJOR INDUSTRIAL GROUPS 

In the table on pages 6-8 returns of corporations are classified 
by major industrial groups and by returns with net income, returns 
with no net income, and returns of inactive corporations. Totals for 
the following items are shown for each classification to which the items 
are applicable : Number of returns, gross income, deductions, net income 
or deficit, normal tax, surtax on undistributed profits, and excess- 
profits tax. Basic table 1, pages 48-49, shows similar data for the 
returns distributed by States and Territories. 

In analyzing the data compiled from returns classified under the 
major industrial group "Finance" and under the industrial subgroup 
"Life insurance — Mutual or stock companies," allowance should be 
made for the two special deductions from gross income permitted life 
insurance companies under subsection (a), section 203, Revenue Act 
of 1936, relating to reserve funds required by law and reserve for 
dividends. For returns with net income this deduction is $40,320,014 ; 
for returns with no net income, $782,974,318. In basic tables 3 and 4, 
pages 58-69 and pages 70-79, respectively, the special deductions 
for life insurance companies are included in "other deductions." 

There are excluded from the major industrial group "Finance" 
returns of nonresident foreign corporations with income derived from 
sources witliin the United States on wliich the tax has not been fully 
satisfied at the source. Form 1 120NB is required of such corporations, 
unless a tax of 10 percent has been withheld at the source on dividends 
and a tax of 15 percent has been withheld at the source on all other 
items of taxable income (interest, rents, royalties, etc.). In years 



6 



STATISTICS OF INCOME 



prior to 1936 all nonresident foreign corporations filed Form 1120 and 
data from these returns were tabulated in the major group "Finance." 
In basic table 3 there are shown dividends received on stock of 
domestic corporations (line 7 on table), interest received on certain 
Government obligations subject to the excess-profits tax (line 10), and 
contributions or gifts (line 20), by major industrial groups and by 
returns with net income and with no net income. The information 
shown in basic table 3 permits comparisons of the above items tabu- 
lated from the 1937 returns with similar items from returns prior to 
1936, and indicates the effect of the inclusion in net income for excess- 
profits tax computation of dividends received on stock of domestic 
corporations and interest received on certain Government obligations. 
These data should be used in connection with the following table. 

Corporations, 1937, by major industrial groups and by returns with net income and 
with no net income: Number of returns, gross income, deductions, net income or 
deficit, normal tax, surtax on undistributed profits, and excess-profits tax; also 
number of returns of inactive corporations ^ 

[Money figures in thousands of dollars] 



Industrial groups 



Total 
number 
of returns 



Returns with net income ' 



Number 



Percent 

of group 

total 



Gross 
income ^ 



Deduc- 
tions ' 



Net in- 
come 2 



Agriculture and related industries 

Mining and quarrying 

Manufacturing: 

Food and kindred products 

Liquors and beverages (alcoholic 

and nonalcoholic) 

Tobacco products 

Textile-mill products 

Clothing and apparel 

Leather and its manufactures 

Rubber products 

Forest products 

Paper, pulp, and products 

Printing, publishing, and allied 

industries. 

Chemicals and allied products 

Petroleum and other mineral oil 

products 

Stone, clay, and glass products 

Metal and its products 

Motor vehicles, complete or parts 
Manufacturing not elsewhere clas- 
sified.- 

Total manufacturing 

Construction 

Transportation and other public 
utilities 

Trade 

Service — Professional, amusements, 
hotels, etc 

Finance — Banking, insurance, real 
estate, holding companies, stock 
and bond brokers, etc 

Nature of business not given... 

Grand total 



9,565 
18, 024 



12, 976 

3,376 
370 
7,697 
8,044 
2,386 
643 
6,730 
2,327 

12, 667 
7,183 

806 
4,164 
20, 076 



6,197 



18, 333 



27,360 
148, 019 



133, 992 
12, 021 



529, 097 



2,636 
5,083 



27.56 
28.20 



531,954 
2, 579, 785 



474, 635 
2, 152, 164 



6,300 

1,633 
140 
3,013 
2,790 
1,023 
320 
3,102 
1,383 

5,117 
3.107 

324 

1,684 

10, 491 

381 

2,166 



41,974 



6,103 

10, 856 
62, 432 

19, 191 



43, 581 

172 

192, 028 



40.85 

48.37 
37.84 
39.15 
34.68 
42.87 
49.77 
46.09 
59.43 

40.40 
43.25 

40.20 
40.44 
52.26 
43.84 

34.95 



7, 276, 741 

1, 529, 312 
1, 264, 779 
3,014,462 
1, 439, 762 
963, 149 
1, 012, 043 
1, 457. 931 
1, 646, 878 

1, 908, 531 
3, 882, 702 

4,638,211 
1,317,034 
14, 042, 168 
4, 554, 892 

1, 519, 612 



43.49 



51, 468, 208 



33.29 



39.68 
42.18 



29.40 



32.53 
1.43 



36.29 



1, 688, 050 

9, 034, 200 
35, 057, 451 

2, 625, 377 



6, 000, 402 
3,669 

108, 989, 095 



6, 990, 643 

1, 366, 543 
1, 138, 131 

2, 848, 136 
1,406,918 

928,548 

964, 590 

1, 364, 361 

1, 506, 834 

1,724,710 
3, 425, 583 

4, 337, 396 
1,155.510 
12,660,818 
4, 139, 078 

1, 382. 944 



47. 340. 743 



1, 603, 587 

7, 531, 179 
33, 992, 686 

2, 399, 651 



< 3, 856, 606 
3,007 

9, 354, 259 



57, 320 
427. 621 



286, 098 

162, 769' 
126, 648 
166, 326 
32, 845 
34,601 
47,454 
93, 569 
140, 044 

183, 821 
457, 119 

300, 815 

161, 524 

1, 381, 350 

415, 814 

136, 668 



4, 127, 465 



84,463 

1, 503, 021 
1, 064, 765 

225, 726 



2, 143, 795 
661 

9. 634, 837 



For footnotes, see p. 8. 



STATISTICS OF INCOME 



Corpoiations, 1937, by major industrial groups and by returns with net income and 
with no net income: Number of returns, gross income, deductions, net incoine or 
deficit, normal tax, surtax on undistributed profits, and excess-profits tax; also 
number of returns of inactive corporations ^ — Continued 

[Money figures in thousands of dollars] 



Industrial groups 



Returns with net income ' — 
Continued 



Returns with no 
net income ^ 



Normal 
tax 



Surtax 
on undis- 
tributed 

profits 



Excess- 
profits 

tax 



Number 



Percent 

of group 

total 



Agriculture and related industries .- -. 

Mining and quarrying 

Manufacturing: 

Food and kindred products — 

Liquors and beverages (alcoholic and non- 
alcoholic) 

Tobacco products 

Textile-mill products _- 

Clothing and apparel 

Leather and its manufactures 

Rubber products 

Forest products 

Paper, pulp, and products 

Printing, publishing, and allied industries 

Chemicals and allied products 

Petroleum and other mineral oil products 

Stone, clay, and glass products 

Metal and its products 

Motor vehicles, complete or parts 

Manufacturing not elsewhere classified 

Total manufacturing 

Construction 

Transportation and other public utilities _ 

Trade 

Service— Professional, amusements, hotels, etc 

Finance — Banking, insurance, real estate, holding 

companies, stock and bond brokers, etc 

Nature of business not given 

Grand total-. -.. -- 



6,569 
51, 079 



909 
5,378 



359 
,402 



6,067 

8.484 



63.43 
47.07 



36, 393 

22, 482 

17, 731 
21,950 

4,054 
4,542 
5,152 
11,514 

18, 615 
22, 020 
56, 525 
30, 213 
21,619 

186, 438 
56, 589 
18, 245 



3,650 

5,644 

836 

4,236 

921 

614 

1,089 

2,085 

4,115 

4,852 

6,605 

3,943 

2,980 

41,513 

8,541 

4,190 



753 

955 
78 
967 
129 
100 
131 
886 
708 
672 
1,013 
795 
887 
12, 870 
596 
835 



6,940 

1,478 

213 
4,490 
5,120 
1,311 

294 
3,373 

867 
7,079 
3, 670 

381 
2,263 
8,775 

426 
3,319 



53.48 

43.78 
57.57 
58.33 
63.65 
64.95 
45.72 
60.12 
37.26 
55.88 
51.18 
47.27 
64.35 
43.71 
49.02 
53.56 



534, 082 



95, 814 



22, 376 



50, 005 



51.81 



10, 349 
184, 018 
132, 542 

26, 314 

111,906 



2,867 
10,411 
29. 176 

6,194 

25, 144 
5 



1,402 
3,749 
6, 668 
1,638 

2,735 
6 



10, 761 
13,816 
80. 652 
41,017 

73, 498 
1,510 



58. 70 
50.50 
64.49 
62.84 

54.85 
12.56 



1, 056, 939 



175, 898 



43, 335 



285, 810 



54.02 



Industrial groups 



Returns with no net income '— 
Continued 



Gross 
income ' 



Deduc- 
tions 3 



Returns of inactive 
corporations 



Deficit 2 , Number 



Percent 

of group 

total 



Agriculture and related industries 

Mining and quarrying — 

Manufacturing: 

Food and kindred products 

Liquors and beverages (alcoholic and non- 
alcoholic) 

Tobacco products 

Textile-mill proclucts 

Clothing and apparel 

Leather and its manufactures 

Rubber products 

Forest products 

Paper, pulp, and products 

Printing, publishin?, and allied industries 

Chemicals and allied products 

Petroleum and other mineral oil products. . 

Stone, clay, and glass products - 

Metal and its products 

Motor vehicles, complete or parts 

Manufacturing not elsewhere classified -.. 

Total manufacturing 

For footnotes, see p. 8. 



251, 123 
1, 000, 672. 



284, 707 
1, 129, 040 



33, 583 
128, 368 



862 
4,457 



9.01 
24.73 



3, 602, 288 

292, 424 
36, 703 

1, 517, 426 
809, 937 
368, 576 
94,911 
472, 165 
241,191 
529, 691 
337, 354 
648, 653 
218. 915 

1,301,235 
197, 903 
319, 029 



3, 666, 092 

308, 845 
38, 742 

1, 586, 800 
828, 973 
382, 140 
98, 623 
497, 804 
253, 230 
506, 466 
356, 416 
669, 910 
236, 330 

1,371,962 
210, 950 
339, 459 



63, 804 

16, 421 
2,040 

69, 374 
19, 036 
13, 564 

3,712 
25, 640 
12,039 
36, 776 
19, 0G2 
21, 257 
17,416 

70, 727 
13, 047 
20, 430 



736 

265 

17 

194 

134 

52 

29 

255 

77 

471 

400 

101 

217 

810 

62 

712 



5.67 

7.85 
4.59 
2.52 
1.67 
2.18 
4.51 
3.79 
3.31 
3.72 
5.57 

12.53 
5.21 
4.03 
7.14 

11.49 



10, 988, 400 



11,412,744 



424, 344 



4.70 



8 



STATISTICS OF INCOME 



Corporations, 1937, by major industrial groups and by returns with net income and 
with no net income: Number of returns, gross income, deductions, net income or 
deficit, normal tax, surtax on undistributed profits, and excess-profits tax; also 
number of returns of inactive corporations ^ — Continued 

[Money figures in thousands of dollars] 





Returns with no net income 2— 
Continued 


Returns of inactive 
corporations 


Industrial groups 


Gross 
income ' 


Deduc- 
tions 3 


Deficit ' 


Number 


Percent 

of group 

total 




773, 852 
4, 415, 002 
10, 379, 209 
2, 211, 927 

2, 952, 308 
5,488 


810, 741 
4, 825, 007 
10, 610, 007 
2,421,991 

< 3, 754, 951 
9.640 


36, 890 
410, 004 
230, 798 
210, 064 

802, 643 
4,152 


1,469 
2,688 
4,935 
5,064 

16,913 
10, 339 


8.01 


Transportation and other public utilities 

Trade..- 


9.82 
3.33 


Service— Professional, amusements, hotels, etc. 
Finance— Banking, insurance, real estate, hold- 
ing companies, stock and bond brokers, etc. . 
Nature of business not given 


7.76 

12.62 
86.01 






Grand total ..- 


32,977,981 


< 35, 258, 827 


2, 280, 846 


51, 259 


9.69 







1 For textual discussion, see pp. 1-6. 

2 "Net income" or "deficit" is the net income for excess-profits tax computation (item 28, schedule A, 
p. 2, Form 1120) which is equal to the difference between "total income" and "total deductions" (items 
14 and 27, respectively, schedule A, p. 2, Form 1120) and also between "gross income" and "deductions" 
in this table. The classification of the returns into those "with net income" and "with no net income" 
is based on net income for excess-profits tax computation. For comparison of the amounts of net income for 
1937 and 1936 with those for years prior to !936.i ?ee p. 2. The difference between 1937 and 1936 in the bases 
of the classification of the returns into those "with net income" and "with no net income" is stated on p. 8. 

3 "Gross income" and "deductions" correspond to "total income" and "total deductions" (items 14 and 
27, respectively, schedule A, p. 2, Form 1120), after transferring negative items of income reported under 
sources of income to total deductions, plus, in each instance, "cost of goods sold" and "cost of operations" 
(items 2 and 5, respectively, schedule A, p. 2, Form 1120). 

* Includes special non expense deductions of life insurance companies (see p. 5). 



NET INCOME AND DEFICIT CLASSES 

The classification of the returns by net income and deficit classes 
is based on "net income for excess-profits tax computation" (item 
28, schedule A, p. 2 of return). Unlike years prior to 1936, net 
income includes dividends received on stock of domestic corpora- 
tions (subject to taxation under Title I of the effective revenue act) 
and interest received on certain Government obligations, which is 
subject to excess-profits tax, and excludes contributions or gifts 
(limited to 5 percent of net income before deduction of contributions 
or gifts). The effect of the inclusion in net income of dividends re- 
ceived on stock of domestic corporations and interest received on 
certain Government obligations is indicated by the data shown in 
the text table on pages 16-17. 

In the Statistics of Income for 1936, Part 2, the classification of 
the returns by net income and deficit classes was based on the net 
income for income tax computation. The net income for excess- 
profits tax computation in this report is greater than the net income 
for income tax computation used for classification purposes in the 
Statistics of Income for 1936, Part 2, by the amount of the excess- 
profits tax (item 29, schedule A, p. 2 of return). 

In the following table the returns are classified by net income and 
deficit classes. Totals for the following items are shown for each 
classification to which the items are applicable: Number of returns, 
net income or deficit, normal tax, surtax on undistributed profits, 
and excess-profits tax. The number of returns of inactive corpora- 
tions is also given at the end of the table. 



STATISTICS OF INCOME 



9 



A more detailed description and presentation of the returns subject 
to surtax on undistributed profits, classified by size of net income, 
is given in the following section of this report entitled "Surtax on 
undistributed profits" and in the text table on pages 11-15. 

Corporations, 19S7, by net income and deficit classes: Number of returns, net income 
or deficit, normal tax, surtax on undistributed profits, excess-profits tax, and per- 
centages; also number of returns of inactive corporations 

[Net income and deficit classes and money figures in thousands of dollars] 





Returns with net income • 


Net income classes ' 


Returns 


Net income ' 


Normal tax 


Surtax on undis- 
tributed profits 




Number 


Percent 


Amount 


Percent 


Amount 


Percent 


Amount 


Percent 


Under 1 


71,111 

23, 079 

14, 340 

9,707 

7,407 

20, 538 

10,000 

6,161 

4,180 

9,879 

6,377 

4,878 

1,938 

1,139 

1,046 

248 


37.03 

12.02 

7.47 

5.05 

3.86 

10.70 

5.21 

3.21 

2.18 

5.14 

3.32 

2.54 

1.01 

.59 

.54 

.13 


25, 430 

34, 066 

35, 762 

34, 104 

33, 570 

148, 166 

124, 070 

108, 043 

94, 649 

350, 281 

449, 228 

756, 190 

682,812 

796, 055 

2, 135, 892 

3, 826, 519 


0.26 

.35 

.37 

.35 

.35 

1.54 

1.29 

1.12 

.98 

3.64 

4.66 

7.85 

7.09 

8.26 

22.17 

39.72 


1,936 
2, 622 
2,924 
2,981 
3,037 
13, 943 
11.942 
10, 641 
9,676 
37,317 
51, 279 
90, 483 
81,856 
95, 203 
244, 122 
396,977 


0.18 

.25 

.28 

.28 

.29 

1.32 

1.13 

1.01 

.91 

3.53 

4.85 

8.56 

7.74 

9.01 

23.10 

37.56 


1,211 
1,.339 
1,244 
1,041 
987 
4,086 
3,407 
2,877 
2,538 
9,622 
12, 076 
20, 206 
17, 102 
17, 185 
35, 356 
45, 622 


0.69 


1 under 2 


.76 


2 under 3. _.. . -.. . 


.71 


3 under 4_ ._ 


.59 


4 under 5. __ . 


.56 


Sunder 10 


2.32 


10 under 15. . 


1.94 


15 under 20 


1.64 


20 under 25 .._ 


1.44 


25 under 50 


5.47 


50 under 100 ._ 


6.87 


100 under 250 


11.49 


250 under 500 


9.72 


500 under 1,000 


9.77 


1,000 under 5,000 . . . 


20.10 


5,000 and over ... .. . 


25.93 






Total 


192, 028 


100.00 


9, 634, 837 


100.00 


1,056,939 


100.00 


175, 898 


100.00 









Returns with net 
income i— Contd. 


Returns with 


no net income ' 


Net income or deficit classes ' 


Excess-profits tax 


Returns 


Deficit 1 




Amount 


Percent 


Number 


Percent 


Amount 


Percent 


Under 1 


156 

275 

293 

301 

303 

1,461 

1,176 

1,049 

900 

3.039 

3,422 

5,349 

4,245 

4,117 

9,769 

7,489 


0.36 

.64 

.68 

.69 

.70 

3.37 

2.71 

2.42 

2.08 

7.01 

7.90 

12.34 

9.80 

9.50 

22.52 

17.28 


162, 530 

38, 9.53 

20, 305 

12,111 

8,326 

19,210 

7,675 

3,902 

2,479 

5,084 

2,759 

1,544 

470 

242 

187 

33 


56.86 
13.63 
7.10 
4.24 
2.91 
6.72 
2.69 
1.37 
.87 
1.78 
.97 
.54 
.16 
.08 
.07 
.01 


48, 842 

55, 481 

49, 504 

41,887 

37, 223 

134, 614 

93, 358 

67, 335 

55, 241 

170, 442 

190, 181 

236, 355 

160, 713 

169, 930 

372, 665 

391,076 


2.14 


1 under 2 .. ... . 


2.43 


2under3 . 


2.17 


3 under 4 


1.84 


4 under 5 


1.63 


5 under 10 ... 


5.90 




4.09 


15under20 . .. . 


2.95 


20under25 .. .. 


2.42 


25undcr50 


7.74 


.50 under 100 


8.34 


100 under 250 


10.36 


2.50 under 500 


7.05 


500 under 1,000 


7.45 


1,000 under 5,000 . 


16.34 


5,000 and over 


17.15 






Total . - 


43, 335 


100. 00 


285, 810 
51, 259 


100. 00 


2, 280, 846 


100.00 















1 "Net income" or "deficit" is the net income for excess-profits tax computation (item 28, schedule A, p. 
2. Form 1120) which is equal to the difference between "total income" and "total deductions" (items 14 and 
27, respectively, schedule A, p. 2, Form 1120V The classification of the returns by net income and deficit 
classes is based on net income for excess-profits tax computation. For comparison of the amounts of net 
income for 1937 and 1936 with those for years prior to 1936, see p. 2. The difference between 1937 and 1936 
in the bases of the classification of the returns by net income and deficit classes is stated on p. 8. 



10 STATISTICS OF IXCOME 

SURTAX ON UNDISTRIBUTED PROFITS 

Under the provisions of section 14(d) of the Revenue Act of 1936, 
effective for the calendar year 1937, all corporations are subject to the 
surtax on undistributed profits, except the following: Banks and trust 
companies, a substantial part of the business of which is the receiving 
of deposits and making loans and discounts; insurance companies; 
corporations with income from sources within possessions of the United 
States which are entitled to the benefits of section 251 of the Revenue 
Act of 1936; corporations organized under the China Trade Act of 
1922; foreign corporations; domestic corporations which are in 
bankruptcy or are insolvent and in receivership in a court of the United 
States or of any State, Territory, or the District of Columbia; and 
joint-stock land banks organized under the Federal Farm Loan Act, 
as amended. 

The surtax is equal to the sum of: 7 percent of the portion of the 
undistributed net income which is not over 10 percent of the adjusted 
net income; 12 percent of the portion of the undistributed net income 
which is over 10 percent and not over 20 percent of the adjusted net 
income; 17 percent of the portion of the undistributed net income 
which is over 20 percent and not over 40 percent of the adjusted net 
income; 22 percent of the portion of the undistributed net income 
which is over 40 percent and not over 60 percent of the adjusted net 
income; 27 percent of the portion of the undistributed net income 
which is over 60 percent of the adjusted net income. A specific credit 
is allowed corporations with adjusted net income of less than $50,000 
whereby the undistributed net income subject to the surtax rate of 7 
percent is increased to an amount not in excess of $5,000. 

The adjusted net income (item 26, p. 1 of return) equals the net 
income for excess-profits tax computation (item 28, schedule A, p. 2 
of return) less the excess-profits tax, interest received on certain 
Government obligations subject to the excess-profits tax, normal 
tax, and certain credits allowed to holding company affiliates 
and to national mortgage associations. The undistributed net income 
(item 29, p. 1 of return) equals the adjusted net income less the divi- 
dends paid credit and the credit for contracts restricting the payments 
of dividends. 

In the following table the returns with net income are classified by 
net income classes, by returns subject to the surtax on undistributed 
profits, and by returns of corporations not subject to the surtax. The 
returns of corporations subject to the surtax are further classified by 
the highest surtax rate reported on each return and by those with no 
surtax. Totals for the following items are shown for each classifi- 
cation to which the items are applicable: Number of returns, net income, 
dividends paid credit, undistributed net income, normal tax, surtax 
on undistributed profits, and excess-profits tax. 

Of the 192,028 returns with net income, 181,194 are for corpora- 
tions subject to the surtax on undistributed profits. Of the returns 
of corporations subject to the surtax on undistributed profits, 134,845 
show a surtax liability of $175,897,696 and 46,349 show no surtax 
liability because the dividends paid credit and the credit for contracts 
restricting dividend payments are in excess of the adjusted net income. 
Of the returns with surtax liability, 113,228 show 7 percent as the 
highest surtax rate, 5,219 show 12 percent as the highest surtax rate, 
6,995 show 17 percent as the highest surtax rate, 4,766 show 22 per- 



STATISTICS OF INCOME 



11 



cent as the highest surtax rate, 4,637 show 27 percent as the highest 
surtax rate. 



Corporations, 19S7, with net income, by net income classes, by returns subject to 
surtax on undistributed profits (by highest surtax rates) and by returns not subject 
to surtax on undistributed profits: Number of returns, net income, dividends paid 
credit, undistributed net income, normal tax, surtax on undistributed profits, and 
excess-profits tax 

[Net income classes and money figures in thousands of dollars] 



Net income classes ' 



Under 5 

5 under 10 

10 under 15 

15 under 20 

20 under 25 

25 under 50 

sounder 100 

100 under 250 

250 under 500 

500 under 1,000... 
1,000 under 5,000_ 
5,000 and over 



Number 
of returns 
with net 
income ' 



125, 
20, 
10, 
6, 
4, 
9, 
6, 
4, 
1, 
1, 
1, 



Total 192,028 134,845 5,624,279 



Returns of corporations subject to surtax on undistributed 
profits 2 



Returns with surtax 



Total 



Number 
of returns 



96, 777 

12, 146 

5,679 

3,419 

2,333 

5,523 

3,637 

2,828 

1,123 

681 

563 

136 



Net income' 



111,156 

87, 084 

70, 494 

59, 973 

52, 783 

196, 359 

257,010 

439, 034 

397,021 

472, 043 

1, 133, 304 

2,348,017 



Dividends 
paid credit' 



18, 058 

28,312 

31, 3,57 

29, 690 

27, 223 

106, 459 

145, 973 

246, 003 

226, 792 

287, 766 

723, 784 

, 676, 335 



3, 547, 753 



Undis- 
tributed 
net income « 



82, 727 

49, 308 

31,268 

23, 383 

19, 244 

65, 514 

76, 923 

131,628 

114,492 

119,912 

258, 332 

410,316 



1,383,045 



Normal 
tax 



9,300 

8,454 

7,044 

6,165 

5,656 

22, 065 

31, 182 

56, 328 

51, 182 

59, 871 

140, 199 

261,092 



658, 537 





Returns of corporations subject to surtax on undistributed profits 2— 
Continued 




Returns with surtax— Continued 


Net income classes ' 


Total— Continued 


Highest surtax rate, 7 percent 




Surtax on 
undis- 
tributed 
profits 


Excess- 
profits 
tax 


Number 
of returns 


Net income' 


Dividends 
paid credit' 


Undis- 
tributed 

net 
income ' 


Under 5 


5,822 

4,086 

3,407 

2,877 

2,538 

9,622 

12, 076 

20, 206 

17, 102 

17, 185 

35, 356 

45, 622 


1,014 

1,004 

759 

681 

580 

1,997 

2,368 

4,008 

3,182 

3,418 

8,214 

5,716 


96, 777 

7,320 

2,959 

1,560 

933 

1,676 

830 

600 

240 

148 

147 

38 


111,156 

50, 870 

36, 534 

27, 237 

21,018 

57, 854 

58, 224 

93, 61 1 

85, 691 

101,960 

310, 285 

514, 706 


18,0.58 
27, 216 
25, 772 
20, 549 
16,381 
46, 924 
48,615 
78, 522 
71,427 
85, 075 
259, 333 
448, 141 


82 727 


■5 under 10 


18 141 


10underl5 


6 735 


15under20 .. . 


3 604 


20 under 25. . 


2,154 


25 under 50 


3,946 


50 under 100 . . 


2 330 


100 under 250 .. 


3 510 


250 under 500 


3, 259 


500under 1,000 . .. 


4,305 


1,000 under 5,000 . 


13, 232 


■5,000 and over . 


25, 144 






Total .. 


175, 898 


32, 940 


113, 228 


1, 469, 147 


1.146,013 


169, 089 







Por footnotes, see p. 15. 



12 



STATISTICS OF INCOME 



Corporations, 1937, with net income, by net income classes, by returns subject to 
surtax on undistrihuted profits (by highest surtax rates) and by returns not subject 
to surtax on undistributed profits: Number of returns, net income, dividends paid 
credit, undistributed net income, normal tax, surtax on xmdistributed profits, and 
excess-profits tax — Continued 

[Net income classes and money figures in thousands of dollars] 





Returns of corporations subject to surtax on undistributed 
profits 2— Continued 




Returns with surtax— Continued 


Net income classes ' 


Highest surtax rate, 7 per- 
cent—Continued 


Highest surtax rate, 12 percent 




Normal 
tax 


Surtax on 
undis- 
tributed 
profits 


Excess- 
profits 
tax 


Number 
of returns 


Net 
income ' 


Divi- 
dends 
paid 
credit « 


Under 5 . .. _ ._. 


9,300 
4,931 
3,629 
2,793 
2,214 
6,265 
6,621 
10, 843 
10, 234 
11,892 
35, 993 
50, 100 


5,822 
1,286 
491 
261 
150 
291 
196 
273 
232 
301 
926 
1,760 


1,014 
544 
350 
269 
227 
552 
382 
487 
496 
409 
859 
463 








5 under 10 ... . ... 


1, 658 
510 
428 
300 
808 
600 
442 
168 
148 
115 
42 


10, 945 

6, 3,56 

7,545 

6,822 

29, 297 

41,970 

68, 040 

59, 718 

104, 939 

225, 725 

764, 317 


687 


10underl5 _. __ __. . 


2,732 


15 under 20. 


4,171 


20 under 25 


4,178 


25 under 50. -- . . ... 


20, 421 


sounder 100 .. .. 


31,076 


100under250 . .. ... . 


49, 763 


250 under 500 _. . . 


43, 231 


500under 1,000 


77,161 


1,000 under 5,000 


164, 129 


5,000 and over 


575, 488 






Total 


154,815 


11,990 


6,051 


5,219 


1, 325, 675 


973, 037 









Returns of corporations subject to surtax on undistributed 
profits 2— Continued 




Returns with surtax— Continued 


Net income classes > 


Highest surtax rate, 12 percent— Contd. 


Highest surtax rate, 
17 percsnt 




Undis- 
tributed 

net 
income « 


Normal 
tax 


Surtax 
on undis- 
tributed 

profits 


Excess- 
profits 
tax 


Number 
of re- 
turns 


Net 
income ' 


Under 5 














Sunder 10 


9,081 
2,895 
2,481 
1,811 
5,269 
5,439 
8,861 
7,924 
13,652 
28, 368 
101, 376 


1,060 

651 

792 

754 

3, 314 

5,122 

8,660 

7,859 

13,118 

27, 090 

84,935 


679 

221 

198 

142 

463 

469 

772 

696 

1,180 

2,476 

8,781 


129 

72 

79 

66 

279 

332 

550 

415 

693 

1,931 

1,477 


1,945 
559 
471 
435 

1,215 
949 
728 
303 
189 
161 
40 


14, 237 


10underl5 . 


7, 182 


15 under 20 


8,331 
9 893 


20 under 25 


25 under 50 


43,888 
67, 725 


sounder 100 


100 under 250 


113 284 


250 under 500 


107, 896 


500 under 1,000 


132,316 
327 959 


1,000 under 5,000 


5,000 and over 


859, 939 




Total 


187, 157 


153, 355 


16,075 


6,023 


6,995 


1, 692, 650 





For footnotes, see p. 15. 



STATISTICS OF INCOME 



13 



Corporations, 1937, with net income, by net income classes, by returns subject to 
smtax on undistributed profits (by highest surtax rates) and by returns not subject 
to surtax on ^indistrihuted profits: Number of returns, net income, dividends paid 
credit, undistributed net income, normal tax, siirtax on undistributed profits, and 
excess-profits tax — Continued 

[Net income classes and money figures in thousands of dollars] 





Returns of corporations subject to surtax on undistributed 
profits 2— Continued 




Returns with surtax— Continued 


Net income classes ' 


Highest surtax rate, 17 percent— Contd. 


Highest 
surtax 
rate, 22 

percent 




Dividends 

paid 

credit * 


Undis- 
tributed 

net 
income « 


Normal 
tax 


Surtax 
on undis- 
tributed 

profits 


Excess- 
profits 
tax 


Number 
of re- 
turns 


Under 5 
















384 
2,330 
3,567 
4,795 
24, 738 
41, 141 
67, 732 
64,827 
81, 185 
198, 862 
555, 349 


12, 292 
4,026 
3,788 
3,900 
13, 641 
17, 403 
29, 161 
27, 820 
32, 525 
82, 967 
199, 333 


1,378 

731 

870 

1,079 

5,000 

8,430 

15,063 

14, 065 

17. 586 

43,117 

100, 796 


1,064 

377 

379 

402 

1,541 

2,124 

3,502 

3,335 

3,820 

9,877 

22, 566 


214 

85 

102 

101 

402 

613 

1,063 

670 

961 

2,315 

2,077 


1,223 


10 under 15 


673 


15 under 20 -- 


270 


20 under 25 . 


209 


25 under 50 


794 


50 under 100 - 


602 


100 under 250 

250 under 500 


545 
237 


500 under 1,000 .. 


109 


1 ,000 under 5,000 


92 


6,000 and over -. 


12 






Total . 


1,044,908 


426, 855 


208, 115 


48,988 


8,602 


4,766 








Returns of corporations subject to surtax on undistributed 
profits 2— Continued 




Returns with surtax— Continued 


Net income classes ' 


Highest surtax rate, 22 percent— Continued 




Net 
income i 


Divi- 
dends 
paid 
credit ^ 


Undis- 
tributed 

net 
income ' 


Normal 
tax 


Surtax 
on undis- 
tributed 

profits 


Excess- 
profits 
tax 


















11,031 

7,688 
4,803 
4,751 
28,609 
42, 709 
85, 095 
83, 723 
73, 808 
181,526 
178, 365 


26 

485 
1, 257 
1,531 
11, 300 
18, 629 
36, 676 
36, 321 
32, 269 
80,963 
83,589 


9.793 
6,312 
2,985 
2,652 
13, 653 

18. 096 
36, 007 
34, 902 
30, 579 

75. 097 
70, 969 


1,085 

778 

497 

517 

3,311 

5,368 

11,354 

11,371 

9,911 

23, 589 

22, 260 


1,056 

750 

374 

343 

1,943 

2,682 

5,417 

5,178 

4,556 

11,069 

10, 204 


117 


10 under 15 . . .._ 


111 


15 under 20 


63 


20under25 ... 


53 


25 under 50 


327 




541 


100 under 250 . 


865 


250 under 500 


881 


500 under 1,000 


752 


1,000 under 5,000 . 


1,580 




1,271 






Total 


- 


702, 109 


303, 044 


301, 046 


90, 042 


43, 573 


6,560 



For footnotes, see p. 15. 



210893— 4C 



14 



STATISTICS OF INCOME 



C^frporaiions. 1937, %mih lut income, by net income classes, hy returns subject to 
surtax on undistributed profits (jby nighest suriax rates) and by returns not subject 
to syrtax on undistributed profits: Xumber of returns, net income, dividends paid 
eredU, undistributed net income, normai tax, surtax on undistributed proiiis, and 
excess-profits tax — Continued 

[Net iacane classes aad iDoney Scares in tbovsands of dollars' 



Xr: irK 



Xmnher >^-^j 



Divi- 


TTndis- 




Bnrtax 


dends 


tribmed 


Normal 


onundis- 


raid 


ner 


Tax 


TT:bTiT« 


cneaii = 


mccne ■ 




rr:z:5 



Excess- 

profiti 



Under 5 

5 HEiia' iO„ 

:0n&leTl5 9<S 

IS-cmderap 690 

30nnd«-25 456 

25crd«-5i:i L090 

oOrmder ICO ' 656 

ICt' under '2X< 513 

2c<:' under KK* , 175 

MC under Z.COJ , 87 

i.COJ nnder 5j>A' ! i& 

SjOOO and oxer 4 

TcTii i,&: 



12,734 


3S 


11,301 


1.255 


1-509 


141 


12.057 


146 


10,525 


1.212 


1.665 


168 


laaoo 


338 


8,r27 


L092 


1.501 


134 


36.7U 


3.076 


29.005 


4.175 


5.3^4 


43S 


«I.3S2 


6.512 


33.655 


5.641 


t\ «i5 


500 


;9,0C3 


13.310 ' 


51.0*7 


10.4<K 


10. ■2i2 


1,044 


as. 992 


10,9S6 


4a5S7 


7.652 


7.661 


ra 


9,019 


12.077 


3S.S52 


7.364 


7.32S 


603 


S7,80B 


aa4ss 


5S.666 


ia410 


11.007 


1.529 


at, 691 


13.7®: 


13.494 


3.C01 


2 311 


42< 



434.696 Sa749 29S.S&S 



5.705 



:: to suriax on imdi5trib- 
r rntinued 



Xei incmie dases > 



Semms with no surtax ■ 



Net 



Dividends 
paid 

credii * 



Normal 
tax 



Escess- 

pr<^ts 



Hosier 5 25, (riS 

3iiml9'10 6l 465 

lOonder 13 3. 471 

ISnnderSO . 2 27S 

30iioda-25 : 1.546 

25iinder50 3,759 

50 under 100 2.409 

lOOnndo-^ 1.792 

S0ll»de!r500 686 

300 ODdet 1,000 390 

UXW trader 3,A» 411 

3^000 and over 104 

ToT-ai 4i:.-34Si 



3y. i&S 
47.236 ; 
^IIS 
40.125 . 
35.209 I 
133.263 I 
16a225 . 
275.951 I 
244.286 
273,768 I 
S55.243 
1,419.319 ! 



34. Toy 

41.517 

37.3S0 

35,^9 , 

3a 864 I 

117. 129 I 

147.682 I 

239.267 

213,207 I 

239.403 I 

74S.336 : 

1,386.151 



O, If? 

4.S(^ 

4.000 

3,815 

3,469 j 

13,492 

IS. 251 

30.y35 

27.450 

31.^^23 

92 054 

13L51S 



3s7 

401 

334 

332 

287 

952 

1.020 

1.300 

1,021 

674 

1.4S5 

1,773 



3. 57i. 021 3. 151. 724 S-H. 290 



9.S87 



Footnotes, see p. 13. 



STATISTICS OF INCOME 



15 



Corporations, 1937, with net income, by net income classes, by returns subject to 
surtax on undistributed profits {by highest surtax rates) and by returns not subject 
to surtax on undistributed profits: Number of returns, net income, dividends paid 
credit, undistributed net income, normal tax, surtax on undistributed profits, and 
excess-profits tax — Continued 

[Net income classes and money figures in thousands of dollars] 





Returns of corporations not subject to surtax on 
undistributed profits ^ 


Xet income classes ' 


Number of 
returns 


Xet 
income • 


Normal 
tax ' 


Excess- 

P'ofits 

tax 


UnderS . -. 


5,839 

1,927 

850 

464 

301 

597 

331 

258 

119 

68 

72 

8 


12, 487 

13, 857 
10, 457 

7.945 
6,657 
20. 659 
22, 993 
41, 205 
41, 505 
48, 244 
147, 345 
59, 183 


1,022 

1,184 

898 

661 

551 

1,760 

1,847 

3.220 

3,224 

3,509 

11. 869 

4,367 


28 


SunderlO-. _ .. ..- -. . . ._ ... ... . 


56 


10 under 15 


62 


15 under 20 ... ... 


36 


20 under 25 .. . .. ... ... 


33 


25 under 50 . .......... .. ... 


90 


50 under 100 .. . 


34 


100under250 ... ... 


42 


250under500 . 


42 


500under 1,000 


25 


1,000 under 5,000 


60 


5,000 and over 








Total -- ... -- - - 


10, 834 


432. 536 


34,112 


508 









1 See footnote 1. p. 9. 

2 Returns not exempt by law from the surtax on undistributed profits. 

' Returns exempt bv law from the surtax on undistributed profits under the provisions of section 14(d) 
■of the Revenue Act of 1936. 

•• Returns with no undistributed net income on which the dividends paid credit and/or the credit for con- 
tracts restricting dividend payments equal or exceed the adjusted net income. 

5 Dividends paid credit (item 27, p. 1, Form 1120) plus credit for contracts restricting dividend pavments 
(item 28, p. 1. Form 1120). 

« The undistributed net income equals the adjusted net income less the dividends paid credit and the 
■credit for contract restricting the payment of dividends. The adjusted net income equals the net income 
for excess-profits tax less the following: Excess-profits tax fitem 29. p. 2. Form 1120). interest received on 
csrtain rrovernment n'^liiations subject to the excess-profits tax. normal tax, and certain credits allowed 
to holding company affiliates and to national mortgage associations. 

1 Normal tax at flat rates of 15 and 22 percent reported on returns of corporations exempt by law from the 
■surtax on undistributed profits. 



DIVIDENDS RECEIVED, INTEREST RECEIVED ON GOVERNMENT OBLIGATIONS, 
AND DIVIDENDS PAID, BY NET INCOME AND DEFICIT CLASSES 

The following table shows, by net income and deficit classes, total 
number of returns; number of returns vnih dividends received from 
domestic and foreign corporations, and amoimt of di^ddends received; 
interest received on Government obligations, amount subject to ex- 
cess-profits tax and amount wholly tax-exempt; number of returns 
with dividends paid; and the amounts of dividends paid in cash and 
assets other than corporation's o\\'n stock, and in corporation's own 
stock. Tliis table shows for the first time the amount of dividends 
received from foreign corporations for returns \\dth net income and 
with no net income classified by size of net income or deficit. 
The data sho\^Ti in this table indicate the effect, on the classification 
of the returns by net income and deficit classes, of the inclusion in net 
income for excess-profits tax computation of di\ddends received on 
stock of domestic corporations (subject to taxation under Title I of 
the Revenue Act of 1936) and interest received on certain Government 
•obligations. These data should be used in connection with the text 
table on page 9. 



16 



STATISTICS OF INCOME 



Corporations, 1937, by net income and deficit classes: Total number of returns, 
number of returns with dividends received from domestic and foreign corporations, 
amount of dividends received, interest received on Government obligations, number 
of returns with dividends paid, and amount of dividends paid in cash and assets 
other than corporation's own stock, and in corporation's own stock 

[Net income and deficit classes and money fignres in thousands of dollars] 





Returns with net income ' 




Total 
number 

of 
returns 


Dividends received from— 


Interest received 

on Government 

obligations 


Net income classes ' 


Domestic corpora- 
tions 3 


Foreign corpora- 
tions * 


Total 


Subject 
to excess- 
profits 
tax 4 




Number 

of 
returns 


Amount 


Number 

of 
returns 


Amount 


Under 1... 


71,111 
23,079 
14, 340 
9,707 
7,407 
20, 538 
10, 000 
6,161 
4,180 
9.879 
6,377 
4,878 
1,938 
1.139 
1.046 
248 


3,804 
2,143 
1,626 
1,336 
1,117 
3,803 
2,327 
1,635 
1,175 
3.315 
2.664 
2,402 
1,140 
748 
791 
218 


3,193 

2,506 

2,121 

2, 378 

2,176 

12, 925 

12, 252 

12. 103 

9,876 

41, 373 

69, 178 

126, 210 

134, 820 

169, 739 

565, 559 

1, 348, 193 


87 
67 
39 
35 
31 
121 
104 
82 
66 
266 
238 
314 
159 
130 
215 
66 


48 

165 

31 

40 

86 

169 

462 

149 

214 

1,239 

2,368 

5,677 

6,185 

8,523 

51,625 

125. 876 


6,209 

5,531 

6.009 

5,589 

4,374 

19, 050 

14, 716 

11,304 

8,344 

23, 789 

28, 367 

44, 384 

47, 560 

49, 559 

81, 696 

62. 753 


2,068 
2,135 
2.560 


1 under 2 _ 


2 under 3 


3 under 4. 


2,255 
2,004 
8,583 
6,585 
5,045 
3,860 


4 under 5 


5 under 10 


10 under 15 . . 


15 under 20-- 


20 under 25 


25 under 50 . . 


11,013 


50 under 100 , . 


14, 912 


100 under 250 


22, 452 


250 under 500 

500 under 1,000 


21,230 
24, 512 


1,000 under 5,000 .._ 

5, 000 and over .. 


43, 647 
32,728 






Total 


192. 028 


30,244 


2, 514, 603 


2,020 


202, 856 


419, 233 


205, 590 











Returns with net income '—Continued 




Interest 
received 
on Gov- 
ernment 
obliga- 
tions— 
Contd. 


Dividends paid ' 


Net income classes ' 


Number of returns with— 


Amount 


WhoUy 

tax- 
exempt ' 


Only 
cash and 
assets 
other 
than 
corpora- 
tion's 
own 
stock ' 


Only 
corpora- 
tion's 
own 
stock 8 


Both cash 
and assets 
other than 

corpora- 
tion's own 
stock and 

corpora- 
tion's own 
stock » 


Cash and 

assets 
other than 

corpora- 
tion's own 

stock 10 


Corpora- 
tion's 
own 

stock " 


Under 1 


4,141 

3,3% 

3,449 

3, 333 

2,370 

10.468 

8,130 

6,260 

4,484 

12, 775 

13, 455 

21, 932 

26, 330 

25,047 

38, 049 

30,025 


10, 537 
8,148 
6,303 
4.979 
4,044 

13, 464 
7,864 
5,096 
3, 510 
8,499 
5,620 
4,392 
1,751 
1,054 
977 
237 


76 

59 

52 

31 

31 

101 

37 

16 

17 

29 

13 

5 

4 

2 

1 


43 
46 
47 
39 
39 
122 
99 
81 
58 
198 
136 
113 
54 
35 
21 
6 


17,009 

18,433 

19, 089 

21,220 

19,687 

93, 378 

86, 000 

78, 317 

67, 794 

250, 531 

321, 359 

550, 513 

475, 7% 

599, 245 

1. 622, 297 

3, 068, 107 


724 


1 under 2 


769 


2under 3.- 


669 


3 under 4 


558 


4 under 5 


1, 103 


Sunder 10 _ . 


3.436 


10 under 15 


2,626 


15 under 20 


2,859 
1,721 


20 under 25 


25 under 50 


11,652 


sounder 100 


9,845 
16, 537 


100 under 2.50. 


250 under 500 


19, 035 
27, 059 
34 117 


500 under 1,000 


1,000 under 5.000 


5, 000 and over. . 


38,235 






Total.-- 


213, 643 


86, 475 


474 


1,137 


7, 308, 774 


170, 945 





Sec footnote 1, p. 9. 
2 Data reported in schedule M. p. 4, Form 1120. 

' Dividends from domestic corporations subject to taxation under Title I of the Revenue .\ct of 1936 (col. 
2, schedule F, p. 3. Form 1120) which is the amount used for the computation of dividends received credit. 
J Included in "Other receipts" for 1936. Reported in col. 3, schedule F, p. 3, Form 1120, and not used for 
the computation of dividends received credit. 

5 Consists of interest on United States savings bonds and Treasurv bonds owned in principal amount of 
over $5,000, reported as item 8, schedule A, p. 2, Form 1120. For 1936, this amount also included interest on 



STATISTICS OF IXCOINIE 



17 



Corporations, 1937, by net income and deficit classes: Total number of returns, 
number of returns with dividends received from domestic and foreign corporations, 
amount of dividends received, interest received on Government obligations, number 
of returns with dividends paid, and amount of dividends paid in cash and assets 
other than corporation's own stock, and in corporation's own stock — Continued 

[Net income and deficit classes and money figures in thousands of dollars] 
Returns with no net income i 





Total 
number 
of re turns 


Dividends received from— 


Interest received on Govern- 
ment obligations 


Deficit classes ' 


Domestic corpora- 
tions ' 


Foreign corpora- 
tions * 


Total 


Subject 
to excess- 
profits 
tax 5 


WhoUy 

tax 
exempt • 




Number 


Amount 


Number 


Amount 


Under 1 - 


162, 530 

38,953 

20. 305 

12.111 

8,326 

19, 210 

7,675 

3,902 

2.479 

5,084 

2,759 

1,544 

470 

242 

187 

.33 


4,820 

1,731 

1,107 

785 

580 

1,538 

852 

492 

324 

900 

571 

424 

170 

108 

105 

25 


6,551 
2,987 
2,605 
1,162 
1,617 
.5,339 
3,327 
3,006 
1,925 
7,763 
12,001 
12,042 
9.236 
19, 245 
49, 113 
29,707 


65 
35 
28 
21 
16 
34 
27 
12 
15 
26 
37 
31 
15 
13 
8 
4 


73 

13 

27 

49 

17 

57 

352 

125 

293 

92 

634 

1,161 

338 

1,254 

1,706 

96 


7,227 
4,136 
3.404 
3.311 
2,606 
11,384 
8,667 
4,317 
4,265 
13,571 
16,017 
22,806 
17,983 
19,670 
81. 194 
101,030 


2,398 
1,215 

900 
1,026 

713 
2,820 
2,414 
1,326 
1,039 
3,732 
3,622 
4,421 
3,978 
3,641 
25,243 

443 


4,829 


1 under 2 


2,920 


2 under 3 


2,505 


A under 4 


2,286 


4 under 5 _ 


1,894 


5 under 10. 


8,564 


10 under 15 


6.253 


15 under 20 


2,991 


20 under 25 


3,225 


M under ■'in 


9,840 


50 under 100 


12,394 


100 under 250 

250 under 500 

500 under 1,000 

1,000 under 5,000 

5,000 and over 


18,385 
14,006 
16,029 
55, 951 
100,587 


Total 


285, 810 


14,532 


167, 624 


387 


6,285 


321, 587 


58,929 


262,659 











Returns with no net income 


1— Continued 






Dividends paid 2 




Number of returns with— 


Amount 


Deficit classes ' 


Only cash 
and assets 
other than 
corpora- 
tion's own 
stock ^ 


Only cor- 
poration 's 
own stock * 


Both cash and 
assets other 
than corpora- 
tion's own 
stock and 
corporation's 
own stock 9 


Cash and 
assets other 
than corpo- 
ration's own 
stock 15 


Corpora- 
tion's own 
stock " 




3,674 

1,290 

718 

463 

352 

1,037 

520 

253 

191 

402 

259 

177 

66 

36 

31 

7 


47 

11 

12 

5 

4 

10 

6 

2 

2 

8 

2 

2 

1 


28 
13 
7 
3 
4 
7 
5 
3 
3 
6 
3 
3 


16, 030 

8,083 

6.065 

3.575 

4.424 

13,635 

8,642 

5,515 

4,189 

14, 730 

17,586 

19, 265 

9,992 

22,298 

41,986 

9,230 


2,003 


1 under 2 


112 


2 under 3- 


211 




298 




263 


5 under 10-- - 


453 


10 under 15 


395 


15 under 20 . 


954 


20 under 25 . . 


139 


■25 under 50 .- --- 


1,606 


50 under 100 


303 


100 under 250 


489 


250 imder 500 


500 


500 under 1 000 






1 000 under 5 000 




1 


10,000 


5 000 and over 














Total - - 


9,476 


112 


86 


205. 243 


17,725 







obligations of instrumentalities of the United States other than those issued imder the Federal Farm Loan 
Act, or such Act as amended. 

6 Consists of interest on obligations of States, Territories, or political subdivisions thereof, or the District 
of Columbia, or United States possessions: obligations of the United States issued on or before Sept. 1, 1917, 
Treasury notes, Treasurv bills. Treasurv certificates of indebtedness: United States savings bonds and 
Treasury bonds owned in principal amounts of $5,000 or less and obligations of instrumentalities of the 
United States. For 1936. interest on obligations of instrumentalities of the United States other than those 
issued under the Federal Farm Loan Act . or such act as amended, was subject to excess-profits tax (see note 5) . 

' Corresponds with "Cash dividends, no stock dividends" for 1936. 

s Corresponds with "Stock dividends, no cash dividends" for 1936. 

« Corresponds with "Cash and stock dividends" for 1936. 

"> Corresponds with "Amount of cash dividends" for 1936. 

*i Corresponds with "Amount of stock dividends" for 1936. 



18 



STATISTICS OF INCOME 



DIVIDENDS PAID 

Dividends paid on capital stock of domestic corporations as reported 
on the corporation income tax returns for 1937 are: Cash and assets 
other than corporation's own stock, $7,514,017,192; and corporation's 
own stock, $188,670,062. Dividends paid in cash and assets other 
than corporation's own stock increased over 1936 by $134,684,385, or 
1.8 percent, and dividends paid in corporation's own stock decreased 
$156,302,250, or 45.3 percent. 

Amounts specifically designated as corporation's own stock divi- 
dends in items 3, 5, 6, 7, 8, and 9(b) in schedule M, page 4 of return, 
are tabulated as such. All other dividends (except liquidating) are 
tabulated as cash and assets other than corporation's own stock. 
The amount of dividends paid in cash and assets other than the 
corporation's own stock represents taxable distributions and the 
amount of dividends paid in the corporation's own stock represents 
both taxable and nontaxable distributions. 

In the text table on pages 16-17, the number of returns with divi- 
dends paid and the amounts of dividends paid in cash and assets other 
than corporation's own stock, and in corporation's own stock are 
shown by net income and deficit classes. In basic table 3, pages 
58-69, the dividend payments are shown by major industrial groups 
for returns in aggregate, and for those with net income and with no net 
income. In basic table 5, pages 80-86, the amounts reported on returns 
with balance sheets, grouped by size of total assets, are likewise shown 
in aggregate and for those with net income and with no net income. 

Dividends paid in cash and assets other than the corporation's own 
stock, and in the corporation's own stock for returns in aggregate and 
for those with net income and with no net income, for the years 1922 
through 1937, are as follows: 

Corporations, 1922-37: Dividends paid ' in cash and assets other than corporation's^ 
own stock, and in corporation' s own stock 

[Thousands of dollars] 



Year 



1922- 

1923- , 

1924_ 

1925. 

1926- 

1927. 

1928- 

1929- 

1930- 

1931- 

1932- 

1933. 

1934. 

1935 

1936. 

1937. 



Aggregate 


Returns with net income ' 


Returns with no net 
income 2 


Cash and 




Cash and 




Cash and 




assets other 
than corpo- 


Corporation's 

own stock * 


assets other 
than corpo- 


Corporation's 
own stock 4 


assets other 
than corpo- 


Corpora- 
tion's own 


ration's own 


ration's own 


ration's own 


stock < 


stock 3 




stock 3 




stock 3 




3,436,715 


3, 348, 050 


3,182,870 


3,166,916 


253, 845 


181, 134 


4, 169, 118 


891, 286 


3, 820, 620 


787, 167 


348, 498 


104,118 


4, 338, 823 


510, 526 


3.994,991 


466, 820 


343, 832 


43, 706 


5, 189, 475 


544, 431 


4, 817, 301 


502, 490 


372, 173 


41,942 


5,945,293 


757, 650 


5,530,211 


716,219 


415, 082 


41,430 


» 6, 423, 176 


' 702, 501 


« 5, 785, 476 


6 642, 178 


« 637. 701 


60, 323 


» 7, 082. 723 


550, 128 


5 6, 594, 169 


509, 853 


488, 554 


40, 275 


« 8, 519, 812 


1, 288, 643 


s 8, 005, 952 


1, 193, 896 


513, 860 


94, 747 


5 8,184,241 


414, 180 


5 6, 823, 050 


250, 499 


1,361,191 


163, 681 


6, 151, 082 


163, 530 


3,871,880 


77, 887 


2, 279, 203 


85, 644 


3, 885, 601 


143, 076 


2. 320. 386 


89, 955 


1, 565, 215 


53, 122 


3,127,459 


102, 043 


2, 385, 889 


80, 450 


741, 570 


21, 593 


8 4,859,379 


214, 763 


5 3,822,599 


173,419 


1, 036, 781 


41,344 


5,940,620 


135, 851 


4, 651, 002 


112, 162 


1,289,618 


23,689 


7, 379, 333 


344, 972 


7, 179. 220 


335,319 


200, 112 


9, 653 


7,514,017 


188, 670 


7, 308, 774 


170,945 


205, 243 


17, 725 



1 Excludes dividends paid by life insurance companies for all years prior to 1928. 

' Changes in the revenue acts affecting the comparability of statistical data from income tax returns of 
corporations are summarized on pp. 221-227. The classification of returns into those "with net income" 
and "with no net income" is based on the net income for income tax computation for 1922-36 and on net 
income for excess-profits tax computation for 1937. 

3 Corresponds with column heading "Cash dividends" used for prior years. 

* Corresponds with column heading "Stock dividends" used for prior vears. 

» Revised. For 1927, see Statistics of Income for 1928, p. 329. For 1928, see Statistics of Income for 1935, 
Part 2, p. 9, footnote 2. For 1929, see Statistics of Income for 1934, Part 2, p. 9, footnote 2. For 1930 and 1934, 
see Statistics of Income for 1935, Part 2, p. 9, footnote 2. 



STATISTICS OF INCOME 19 

The dividend payments for the years 1934 through 1937, shown 
in the table on page 18, are not strictlj^ comparable with those for prior 
years. For statement of the effect on dividend payments of the dis- 
continuance of the privilege of filing consolidated returns imder the 
Revenue Act of 1934, see Statistics of Income for 1934, Part 2, page 10. 

COMPILED RECEIPTS AND COMPILED DEDUCTIONS 

In the table on page 21, there appears a summary of compiled 
receipts and compiled deductions for the 477,838 returns of active 
corporations, classified by those submitting and those not submitting 
balance sheets. Compiled receipts and compiled deductions, com- 
posite for all active corporations by major industrial groups and by 
returns with net income and with no net income, are presented in 
basic table 3, pages 58-69. For returns with balance sheets, the 
items of assets and liabilities as well as those of compiled receipts and 
compiled deductions are shown by major industrial groups and by 
those with net income and with no net income in basic table 4, and by 
assets classes in basic table 5, the latter table showing the aggregate 
for all returns with balance sheets. The tables show also compiled 
net profit (or compiled net loss), net income or deficit, normal tax, 
surtax on undistributed profits, excess-profits tax, total tax, and com- 
piled net profit after deducting total tax. 

Compiled receipts comprise (1) taxable income consisting of gross 
sales (less returns and allowances), gross receipts from operations 
(where inventories are not an income- determining factor), taxable 
interest received, rents received, net gain from sale of capital assets 
(real estate, stocks, bonds, etc.), dividends received on stock of 
domestic corporations subject to taxation under Title I of the Revenue 
Act of 1936 and on stock of foreign corporations, and other items 
grouped as "Other receipts," and (2) tax-exempt and taxable interest 
received on Government obligations. 

The amount of "Dividends received from foreign corporations" is 
tabulated separatel}^ for the first time. Former!}^ these dividends 
were tabulated with "Other receipts." 

For 1937, interest received on instrumentalities of the United 
States is not subject to the excess-profits tax and is tabulated in the 
item "Interest received on Government obligations wholly tax- 
exempt." For 1936, interest received on instrumentalities of the 
United States other than those issued under the Federal Farm Loan 
Act, or such act as amended, was subject to the excess-profits tax 
and such interest was tabulated in the item "Interest received on 
Government obligations subject to excess-profits tax." 

Compiled receipts exclude nontaxable income other than interest 
received on Government obligations, which is wholly tax-exempt. 
Compiled receipts differ from gross income, as the two terms are 
used in this report, only by the amount of wholly tax-exempt interest 
received on certain Government obligations included in the former 
item. 

Certain items of compiled receipts, namely, dividends received on 
stock of domestic corporations and wholly and partially tax-exempt 
interest received on Government obligations are shown for returns 
with net income and with no net income classified by net income and 
deficit classes in the text table on pages 16-17. 



20 STATISTICS OF IISTCOME 

Compiled deductions comprise cost of goods sold, cost of operations, 
compensation of officers, rent paid on business property, bad debts, 
interest paid, taxes paid (excepting income tax, excess-profits tax, 
and other disallowed taxes), contributions or gifts (limited to 5 per- 
cent of net income before deduction of contributions or gifts), depre- 
ciation, depletion, net loss from the sale of capital assets (real estate, 
stocks, bonds, etc.), and items not classified, including amounts of 
negative income (i.e., transfers of losses reported under income items) 
grouped as "Other deductions." Compiled deductioi^s do not dift'er 
from deductions, as the two terms are used in this report. 

Compiled net profit is the excess of compiled receipts over compiled 
deductions, and is larger than net income, as the term is used in this 
report, by the amount of wholly tax-exempt interest received on 
certain Government obligations. Compiled net loss is the excess of 
compiled deductions over compiled receipts and is smaller than deficit, 
as the term is used in this report, by the amount of wholly tax-exempt 
interest received on certain Government obligations. 

The amounts tabulated as "Cost of goods sold" and "Cost of 
operations" (items 2 and 5, respectively, schedule A, p. 2 of the return) 
include salaries and wages, taxes, and depreciation only to the extent 
that these deductions are reported as part of such costs. Amounts 
of these items which may be allocable to "Cost of goods sold" or to 
"Cost of operations" but which are reported elsewhere on the returns 
are tabulated under "Other deductions," in the case of salaries and 
wages, and under "Taxes paid" or "Depreciation" in the case of the 
other two items. If any deduction items other than these three are 
reported in "Cost of goods sold" or "Cost of operations," adjustment 
is made, and the items are transferred to their appropriate classifica- 
tions. 

The deduction item "Compensation of officers" excludes the 
amounts paid to the officers of life insurance companies which file 
Form 1120L. There is no provision on Form 1120L for reporting 
this item, and from the annual statement submitted with the return 
it is not possible to obtain the compensation of officers separately. 

The net loss from sales of capital assets is limited by law to an 
amount not in excess of $2,000, after deduction of the gain from such 
sales. The definition of capital assets, the limitation on net capital 
loss, and the corporations which are exempt from this limitation, 
effective for returns with years ended December 31, 1934, and there- 
after, are indicated in the section of this report entitled "Revenue 
Acts of 1913-37 and certain tax provisions of the National Industrial 
Recovery Act (1933); also the special excise tax under act of August 
5, 1909", pages 224-225, footnote 5{d). 



STATISTICS OF INCOME 



21 



Corporations, 1937, returns in aggregate and with and without balance sheets: Nnm- 
ber of returns, compiled receipts and compiled deductions, compiled net profit, net 
income, normal tax, surtax on undistributed profits, excess-profits tax, total tax, 
and dividends paid 

[Money figures in thousands of dollars] 



Number of returns. 



Receipts, taxable income: 

Gross sales ' 

Gross receipts from operations * 

Interest 

Rents 

Net capital gain 

Dividends from: 

Domestic corporations ' 

Foreign corporations * 

Other receipts ' 

Receipts, tax-exempt and taxable income: 
Interest on Government obligations: 

Subject to excess-profits tax « 

Wholly tax-exempt ' 



Total compiled receipts 8_ 



Deductions: 

Cost of goods sold ' 

Cost of operations i" 

Compensation of officers " 

Rent paid on business property 

Bad debts 

Interest paid 

Taxes paid, other than income and excess-profits taxes '2_ 

Contributions or gifts '^ 

Depreciation . 

Depletion.. 

Net capital loss " 

Other deductions " 



Total compiled deductions i8_ 



Compiled net profit. 
Net income " 



Normal tax 

Surtax on undistributed profits. 
Excess-profits tax 



Total tax. 



Compiled net profit less total tax 

Dividends paid in: 

Cash and assets other than corporation's own stock in- 
corporation's own stock " 



Aggregate 



477, 838 



108, 

24, 

2, 

1, 



382, 762 
861, 845 
601, 001 
, 549, 365 
305, 324 

, 682, 226 
209, 142 
,110,894 



264, 518 
476, 302 



142, 443, 379 



Corporations 

submitting 

balance 

sheets 



416, 902 



106, 085, 650 

23, 918, 029 

2, 557, 464 

1,455,742 

270, 592 

2, 601, 451 

204, 100 

1, 083, 899 



259, 291 
470, 535 



138, 906, 752 



84, 167, 767 
12,231,343 

2, 809, 214 
1, 564, 791 

756, 391 
3, 003, 148 

3, 665. 565 

32, 727 

3, 342, 021 

523, 886 

164, 549 

22, 351, 683 



134, 613, 



21, 



306, 572 
841, 979 
710,415 
513, 747 
733, 175 
925, 872 
571, 185 
31,918 
256, 399 
500, 157 
144, 312 
594, 372 



131, 130, 103 



7, 830, 293 
7, 353, 991 



7, 776, 649 
7, 306, 115 



1, 056, 939 
17,5,898 
43, 335 



1, 032, 657 
172, 201 
40, 704 



1,276,172 



1, 245, 562 



6, 554, 121 

7,514,017 
188, 670 



6, 531, 087 



7, 280, 549 
183, 132 



Corporations 
not submit- 
ting balance 
sheets 



60, 936 



2,297,112 

943, 815 

43, 537 

93, 623 

34, 731 

80,776 
5,042 
26,995 



5,228 
5,768 



3, 536, 627 



1,861,195 

389, 365 

98, 798 

51,044 

23, 216 

77, 276 

94, 379 

810 

85, 622 

23, 730 

20, 237 

757,311 



3, 482, 983 



53, 644 

47, 877 



24, 282 
3,696 
2,632 



30, 610 



23, 034 



233, 468 
5, 538 



' Gross sales less returns and allowances where inventories are an income-determining factor. For "cost 
of goods sold" see "deductions." 

2 Gross receipts from operations where inventories are not an income-determining factor. For "cost of 
operations" see "deductions." 

3 See footnote 3, p. 16. 
< See footnote 4, p. 16. 

' Unlike 1936, excludes "dividends from foreign corporations." 

« See footnote 5, pp. 16 17. 

' See footnote 6, p. 17. 

» Excludes nontaxable income other than interest on ta.x-e.xempt obligations reported in schedule B, p. 2. 
Form 1120. Included for a limited number of returns the cost of securities purchased for customer. 

» Includes taxes which are reported in "cost of goods sold." For method of tabulation, see p. 20. 

'« Includes taxes which are reported in "cost of operations." For method of tabulations, see p. 20. 

1' E.xcludes compensation of officers of life-insurance companies which file Form 1120L. 

12 Excludes taxes reported under "cost of goods sold" and "cost of operations." 

'3 Limited to 5 percent of net income before deduction of contributions or gifts. 

n For limitation on amount of capital loss that may be allowed, see section of this report entitled "Revenue 
Acts of 1913-37," etc., pp. 224-225, note 5{d). 

15 Includes special nonexpense deduction items allowed life-insurance companies. 

'8 Includes for a limited number of returns the cost of securities purchased for customers and special non- 
expense deduction items allowed life-insurance companies but excludes compensation of officers of life- 
insurance companies which file Form 1120L. 

" Net income for excess-profits tax computation (item 28, p. 2, Form 1120) which is equal to the difference 
between "total income" and "total deductions" (items 14 and 27, respectively, schedule A, p. 2, Form 
1120). For comparison of the amounts of net income for 1937 and 1936 with those for years prior to 1936, 
see p. 2. 

1' Corresponds with "cash dividends paid" for 1936. 

" Corresponds with "stock dividends paid" for 1936. 



22 



STATISTICS OF INCOME 



ASSETS AND LIABILITIES 

In the first and second follo^^ing tables are shoAni respectively: (1) 
A summary statement of the principal assets and habihties as of 
December 31, 1937, or the close of the fiscal year nearest thereto, 
reported on balance sheets for 416,902 out of 477,838 returns of active 
corporations and (2) the number of returns and the number of balance 
sheets tabulated, by net mcome and deficit classes. The excess in 
the number of returns over the number of balance sheets tabulated 
represents returns of corporations which did not submit balance 
sheets, or for which balance sheet data were fragmentary. In basic 
table 4, pages 70-79, the principal assets and liabilities are shown by 
major industrial groups. This table also includes items of compiled 
receipts and compiled deductions for active corporations which sub- 
mitted balance sheets. For descriptive statement of compiled 
receipts and compiled deductions, see pages 19-20. 

Corporations submitting balance sheets, 1937, in aggregate and by returns with net 
income a?id ivith no net income: Number of returns, assets and liabilities as of 
Dec. 31, 1937, or close of fiscal year nearest thereto 

[Money figures in thousands of dollars] 



Aggregate 



Returns with 
net income ' 



Returns with 
no net in- 
come 1 



Number of returns with balance sheets '' 

Assets: 

Cash 3.. 

Xotes and accounts receivable Oess reserve for bad debts) 

Inventories 

Investments, Government obligations * 

Investments, other than Government obligations s 

Capital assets — Land, buildings, equipment (less deprecia- 
tion and depletion) 

Other assets 

Total assets 6 

Liabilities: 

Accounts payable'- 

Bonds, notes, mortgages payable: 

Maturity less than 1 year ^ 

Maturitv 1 vear or more * 

other liabihties » 

.Capital stock, preferred 

Capital stock, common 

Surplus and undivided profits i" 

Less deficit " 

Total liabilities « 



178, 935 



237, 967 



24, 346, 271 
40, 329, 070 
18, 514, 666 
23, 987, 519 
85, 065, 361 

100, 320, 168 
10, 794, 120 



17, 747, 024 
30, 267. 674 
14, 957. 896 
12, 700, 725 
53, 980, 152 

61. 688, 676 
6, 251, 802 



6, 599, 247 
10, 061, 396 

3, 556, 770 
11.286,793 
31. 085, 209 

38, 631, 492 

4. 542, 317 



303,357.175 I 197.593.950 



105. 763, 225 



14, 748, 460 

10. 372. 705 
49. 326. 317 
87, 276, 412 
18, 364, 354 
77. 338, 598 
58, 523, 980 
12, 593, 652 



9, 3S2, 858 

6.110,982 
26, 086, 050 
43, 111, 759 
13, 368, 817 
56, 562, 090 
45, 462, 349 

2, 490, 954 



5, 365, 602 

4, 261. 724 
23. 240. 267 
44. 164, 653 

4. 995, 538 
20. 776. 508 
13, 061, 632 
10, 102, 698 



303, 357, 175 ' 197, 593, 950 



105, 763, 225 



' The classification of returns into those "with net income" and "with no net income" is based on net 
income for excess-profits tax computation (item 28, schedule A, p. 2, Form 1120. The difference between 
1937 and 1936 in the bases of classification is stated on p. 8. 

■ Excludes returns for inactive corporations and returns with fragmentary balance sheet data. 

2 Includes cash in till and deposits in bank. 

< Corresponds with "investments, tax-exempt," for 1936. Consists of obligations of States and Territories, 
or political subdivisions thereof, obligations of instrumentalities of the United States, and obligations of the 
United States or its possessions. 

' Corresponds with "investments, other than tax-exempt" for 1936. 

« For method of tabulating "total assets" and "total liabilities", see explanation, p. 23. 

' For 1936, "accounts pavable" and notes payable with orisinal maturity of less than 1 year constitute 
"notes and account? payaM'." an 1 bonds and mortgages with original maturity of less than 1 year are 
included in "bonded debt and mortgages." 

- For 1936. included in "bonded debt and mortgages." 

• Unlike 1936. excludes "surplus reserves." 

I" Consists of "surplus reserves," "paid-in or capital surplus," and "earned surplus and undivided profits" 
(items 16. IS. and 19. schedule X, p. 5, Form 1120). For 1936, the amount of "surplus reserves" was included 
in "other liabilities." (Also see second paragraph, p. 23.) 

" Consists of negative amounts for "paid-in or capital surplus" and "earned surplus and undivided profits" 
(items 18 and 19, schedule N, p. 5, Form 1120). (Also see second paragraph, p. 23.) 



STATISTICS OF INCOME 



23 



Corporations, 1937, by net income and deficit classes: Number of returns, and number 
of balance sheets; also number of returns of inactive corporations 





Returns with net income ' 


Returns with no net income ' 


Net income and deficit classes ' 
(thousands of dollars) 


Number 
of returns 


Number 
of bal- 
ance 
sheets 


Percent 
of bal- 
ance 
sheets to 
returns 


Number 
of returns 


Number 
of bal- 
ance 
sheets 


Percent 
of bal- 
ance 
sheets to 
returns 


Under 1 .... 


71, 111 

23,079 

14, 340 

9,707 

7,407 

20, 538 

10,000 

6,161 

4,180 

9,879 

6, 377 

4,878 

1,938 

1,139 

1,046 

248 


63, 109 
21, 574 
13,601 
9,286 
7,122 
19,823 
9,727 
5,955 
4. 058 
9,568 
6,189 
4,706 
1,871 
1,089 
1,015 
242 


88.75 
93.48 
94.85 
95. 66 
96.15 
96.52 
97.27 
96.66 
97.08 
96.85 
97.05 
96.47 
96.54 
95.61 
97.04 
97.55 


162, 530 

38,953 

20, 305 

12,111 

8,326 

19, 210 

7,675 

3,902 

2.479 

5,084 

2,759 

1,544 

470 

242 

187 

33 


130, 052 

33,048 

17,441 

10, 674 

7, 375 

17,208 

7,005 

3,540 

2,265 

4.648 

2,485 

1,382 

426 

215 

171 

32 


80.02 


1 under 2 . - 


84.84 


2 iinder 3 


85.90 


3 iindftr 4 


88.13 


4 under 5 . . . . - . .- 


88.58 


5 under 10 .-. ... 


89.58 


10 under 15 ... 


91.27 


15 under 20 


90.72 


20 under 25 . .. 


91.37 


2.T nndrr nO 


91.42 


50 under 100 ... . . 


90.07 


100 under 250 


89.51 


250 under 500. 


90.64 


500 under 1,000 


88.84 


1,000 under 5,000 


91.44 


5,000 and over 


96.97 


Total - 


192, 028 


178, 935 


93.18 


285, 810 
51, 259 


237,967 


83.26 


Number of returns of inactive corporations 

















1 See footnote 1, p. 9. 

For 1937, the three items "Accounts payable," "Bonds, notes, and 
mortgages payable, with original maturity of less than one year," and 
"Bonds, notes, and mortgages payable, with, original maturity of one 
year or more" are tabulated separately. For 1936, notes payable, 
with original maturity of less than one year, and accounts payable 
were tabulated together as "Notes and accounts payable"; and all 
bonds and mortgages payable, regardless of length of time of original 
maturity, and notes payable, with original maturity of one year or 
more, were tabulated together as "Bonded debt and mortgages." 

The amounts of "Surplus and undivided profits" and "Deficit" are 
not comparable with those for prior years. "Surplus and undivided 
profits" consists of the following amounts which are reported sepa- 
rately on the return: "Surplus reserves," "Paid-in or capital surplus," 
and "Earned surplus and undivided profits." If one or more of these 
amounts are negative they are tabulated as "Deficit" and the remain- 
ing positive items are tabulated as "Surplus and undivided profits." 
In prior years the net amount of "Surplus and undivided profits" or 
"Deficit" was tabulated from each return and "Surplus reserves" 
was included in "Other liabilities." 

The three follo\\ing adjustments in the amounts of "Total assets" 
and "Total liabilities" are made for items of assets and liabilities which 
are not reported correctly on the balance sheet of the return: (1) A 
deficit reported in an asset account is transferred to its appropriate 
place in the liability section and "Total assets" and "Total liabilities" 
are increased by the amount of the deficit; (2) a deficit in surplus 
shown in the asset section is transferred to the liability section and 
"Total assets" and "Total liabilities" are decreased by the amount of 
the deficit; and (3) reserves for depreciation, depletion, and bad debts 
sho^^^lin the liability section are used to reduce the corresponding asset 
accounts and "Total assets" and "Total liabihties" are reduced by the 
amount of such reserves. 



24 



STATISTICS OF INCOME 



Balance sheet items not otherwise classified are tabulated under 
"Other assets" and "Other liabilities," among which are the following: 

Other assets. — Copyrights; formulas; goodwill; patents; trade- 
marks; macliinery and equipment leased to others; sinking funds; 
other funds; deferred charges; organization expenses; prepaid and 
suspense items; interest, discount, coupons, and dividends receivable; 
guaranty deposits, and deposits on contracts, meters, and leaseholds; 
cash value of life insurance. Other assets of life insurance companies 
include market value of real estate and bonds in excess of book value; 
interest, rents, and premiums due; and agents' balances. 

Other liabilities. — Deferred and suspense items; funds held in trust; 
borrowed securities; outstanding coupons and certificates; overdrafts; 
and all reserves except reserves for bad debts, depreciation, depletion 
and surplus. For prior years, "Other liabilities" included "Surplus 
reserves." Other liabilities of life insurance companies include the 
net value of outstanding policies and annuities, and borrowed money. 
Other liabilities of banks include deposits (time, saving, demand, etc.) 
and bank notes in circulation, and other liabilities of building and 
loan associations include certificates. 

Corporations submitting balance sheets, 1937, by major industrial groups, in aggregate 
and by returns xvith net income and tn'th no net income: Gross capital assets, re- 
serves for depreciation and depletion, and net capital assets 

[Millions of dollars] 



Industrial groups 



Aggregate 



Gross 
capital 

assets 2 



Reserve for 
deprecia- 
tion and 
depletion 
(except on 
land) 



Net 
capital 

assets 3 



Agriculture and related industries 

Mining and quarrying 

Manufacturine: 

Food and kindred products 

Liquors and beverages (alcoholic and nonalcoholic) 

Tobacco products 

Textile mill products. 

Clothing and apparel 

Leather and its manufactures 

Rubber products. 

Forest products 

Paper, pulp, and products 

Printing, publishing, and allied industries 

Chemicals and allied products 

Petroleum and other mineral oil products 

Stone, clay, and glass products 

Metal and its products 

Motor vehicles, complete or parts 

Manufacturing not elsewhere classified 

Total manufacturing 

Construction 

Transportation and other public utilities - . . 

Trade ..".". 

Service — Professional, amusements, hotels, etc 

Finance— Ranking, insurance, real estate, holding companies, stock 

and bond brokers, etc . 

Nature of business not given 

Grand total 



1, 508 
9,710 



3,724 

839 

177 

3,004 

222 

286 

462 

1,657 

1,799 

1,242 

2,563 

7,330 

1,734 

10. 927 

1,886 

804 



38, 657 



861 

58, 552 

5,761 

10, 373 

11,316 
14 



136, 751 



333 
3,962 



1,501 
277 
83 

1,454 
96 
140 
217 
617 
752 
558 

1,079 

3,573 
725 

4,842 
854 
353 



17, 120 



367 
8,922 
2,090 
2,102 

1,531 
3 



36, 431 



1,174 
5, 748 



2,22? 

56? 

93 

1, 550- 

126 

146 

245 

1,040- 

1, 047 

684 

1,485 

3,75T 

1,009 

6, 085 

1,032 

45? 



21, 537 



494 

49, 629- 

3,671 

8, 271 

9, 785 
11 



100, 320- 



For footnotes, see p. 25. 



STATISTICS OF INCOME 



25 



Corporations submiUing balance sheets, 1987, by major industrial groups, in aggregate 
and by returns with net income and with no net income: Gross capital assets, re- 
serves for depreciation and depletion, and net capital assets — Continued 

[Millions of dollars] 



Industrial groups 



Agriculture and related industries^ 
Mining and quarrying 



JVIanufacturing: 

Food and kindred products 

Liquors and beverages (alcoholic and 

nonalcoholic) 

Tobacco products 

Textile mill products 

Clothing and apparel 

I^eather and its manufactures 

Rubber products 

Forest products 

Paper, pulp, and products 

Printing, publishing, and allied in- 
dustries 

Chemicals and allied products 

Petroleum and other mineral oil 

products 

Stone, clay, and glass products 

Metal and its products 

Motor vehicles, complete or parts 

Manufacturing not elsewhere classi- 
fied 



Total manufacturing- 



■Construction 

Transportation and other public utilities- 

Trade 

Service — Professional, amusements, ho- 
tels, etc 

Finance— Banking, insurance, real estate, 
holding companies, stock and bond 

brokers, etc 

Nature of business not given 



Grand total. 



Returns with net income ' Returns with no net income > 



Gross 
capital 
assets 2 



778 
5,867 



2,491 

630 

164 

1,990 

150 

188 

383 

1,096 

1,518 

929 
2,344 

6,374 
1,295 
9,766 
1,772 

658 



31, 747 



560 
36, 783 
4,205 

3,560 



4,994 
2 



88, 496 



Reserves 
for depre- 
ciation 
and de- 
pletion 
(except 
on land) 



212 
2,617 



998 



981 



181 
418 
639 

415 
995 

3,158 
533 

4,298 
799 

293 



14, 166 



245 
6,434 
1,522 



762 
1 



26, 807 



Net 
capital 
assets 3 



567 
3,250 



1,493 

404 
87 
1,009 
82 
99 
202 
678 
879 

514 
1,349 

3,217 
762 

5,468 
973 

366 



315 
30. 348 
2,683 

2.712 



4,232 
1 



Gross 
capital 
assets 2 



729 
3,843 



1,233 

210 

12 

1,014 

73 

98 

79 

561 

281 

313 
219 

955 

439 

1,161 

115 

146 



6,910 



301 

21, 769 

1,556 

6,813 



6,322 
12 



Reserves 
for depre- 
ciation 
and de- 
pletion 
(except 
on land) 



61, 689 



48, 255 



121 
1,345 



503 



474 
28 
51 
35 
199 
112 



415 

193 

544 

55 

60 



2,954 



122 

2,488 

568 

1,254 



769 
2 



9,623 



Net 
capital 
assets 3 



2,498 



730 

158 
7 

540 
44 
47 
43 

363 

168 

170 
135 

540 

247 

617 

59 

86 



3,956 



179 
19,281 



5,559 



5,553 
10 



38, 631 



1 See footnote 1, p. 22. 

2 Consists of (1) depreciable and depletable assets (buildings, machinery and equipment, furniture and 
fixtures, delivery equipment, other depreciable assets and natural resources) and (2) land. 

3 Net capital assets are also tabulated in text table on p. 22, and basic tables 4, 5, and 6. 

The following changes in classification affect the comparability of 
asset and liability data over a period of years: Prior to 1929, "Invest- 
ments other than tax-exempt" were included in "Other assets" for all 
corporations; beginning with 1929 they were segregated for corpora- 
tions other than life insurance; for 1930 and subsequent years, they 
are segregated for all corporations. Over a period of years shifts 
appear under liabilities in the amounts reported as "Common stock" 
and "Preferred stock," because of variation in reporting these data. 
For balance sheets in which common and preferred stock are not 
reported separately, the combined amount is tabulated as "Comrnon 
stock." For balance sheets with no par stock and not showing capital 
stock value, the net worth is tabulated under "Surplus and undivided 
profits." 

The preceding table presents, by major industrial groups, in aggre- 
gate and by returns with net income and with no net income, the gross 



26 



STATISTICS OF INCOME 



capital assets, reserves for depreciation (except on land) and depletion, 
and net capital assets. Gross capital assets include (1) depreciable 
and depletable assets (buildings, machinery and equipment, furniture 
and fixtures, delivery equipment, other depreciable assets, and natural 
resources) and (2) land. Attention is directed to the fact that the 
amounts of money in this table are in millions of dollars. 

ASSETS AND LIABILITIES, COMPILED RECEIPTS AND COMPILED DEDUCTIONS, 
BY TOTAL ASSETS CLASSES 

For corporations submitting balance sheets, classified by total assets 
classes, the following table shows for all returns and for returns with 
net income and with no net income, the nmnber of returns, total assets 
as of December 31, 1937, or the close of the fiscal year nearest thereto, 
total compiled receipts, compiled net profit or net loss, and net income 
or deficit. In basic table 5 are shown the principal items of assets 
and liabilities and the principal items of compiled receipts and com- 
piled deductions, by total assets classes. In basic table 6, selected 
items of assets and liabilities, receipts and dividends paid are presented 
for corporations submitting balance sheets, cross-classified by total 
assets classes and by major industrial groups. 

These data are compiled from 416,902 returns filed by corporations 
that submitted balance sheets. The difference between this number 
and 477,838 active corporations represents returns of corporations 
that did not submit balance sheets, or for which balance sheet data 
were fragmentary. In connection with the classification of corporation 
data by size of total assets, it must be borne in mind that, on the bal- 
ance sheet, schedule N, of the corporation income tax retimi (facsimile 
on p. 236), reserves for depreciation and depletion of capital assets are 
deducted from the gross amount of capital assets and reserves for bad 
debts are deducted from the gross amoimt of accounts receivable. 
Moreover, certain adjustments are made in the amount of total assets 
and total liabilities for items which are not reported correctly on the 
balance sheet under assets and liabilities (see p. 23). For a descriptive 
statement of assets and liabilities, see pages 22-25, and of compiled 
receipts and compiled deductions, see pages 19-20. 



Corporations submitting balance sheets, 1937, by total assets classes, in aggregate and 
by returns with net income and ivith no net income: Number of returns, total 
assets, total compiled receipts, compiled net profit or net loss, and net income or 
deficit 

[Total assets classes and money figures in thousands of dollars] 



Total assets classes ' 



Number 
of re- 
turns 2 



Total assets- 
Total liabil- 
ities 1 



Total com- 
piled re- 
ceipts 3 



StTroflt i^^«^'°«°°^« 
or net loss'^r^ deficit a 



Aggregate 



Under 50 

50 under 100 

100 under 250 

250un<ier 500. 

500 under 1,000 

1,000 under 5,000.... 
5,000 under 10,000... 
10,000 under 50,000.. 
50,000 under 100,000 
100,000 and over 

Total 



For footnotes, see p. 27. 



228, 721 

60, 238 

58,817 

27,992 

17, 587 

17, 897 

2,620 

2,281 

355 

394 



416, 902 



179, 519 
282, 410 
283, 418 
867, 986 
325, 439 
278, 394 
186, 712 
641,931 
647, 274 
664,092 



303, 357, 175 



10, 923, 
7,607, 

12; 308, 
9, 794, 
9, 830, 

21.929, 
8,451, 

19, 522. 
9,282, 

29, 256, 



138, 906, 752 



6 131, 336 
37,854 
178, 210 
242, 134 
317, 383 

1, 107, 940 
542, 300 

1, 639, 838 
751,870 

3, 090, 457 



7, 776, 649 



6 131,673 

37, 452 

176, 337 

234, 988 

303, 829 

1, 055, 643 
516. 995 

1, 564, 997 
724, 408 

2, 823, 138 



7,306,115 



STATISTICS OF INCOME 



27 



Corporations submitting balance sheets, 1937, by total assets classes, in aggregate and 
by returns with net income and with no net income: Number of returns, total 
assets, total compiled receipts, compiled net profit or net loss, and net income or 
deficit — Continued 

[Total assets classes and money figures in thousands of dollars] 



Total assets classes ' 



Number Total assets- 
of re- Total liabil- 
turns 2 ities ' 



Total com- Compiled 
piled re- net profit 
ceipts 3 or net loss * 



Net income 
or deficit ' 



Returns with net income ' 



Under 50 

sounder 100 

100 under 250 

250 under 500 

500 under 1,000 

1,000 under 5,000_... 
5,000 under 10,000.-. 
10,000 under 50,000. 
50,000 under 100,000 
100,000 and over 

Total 



Under 50 

sounder 100 

100 under 250 

250 under 500 

500 under 1,000 

1,000 under 5,000. ... 
5,000 under 10,000... 
10,000 under 50,000.. 
50,000 under 100,000 
100,000 and over 

Total.. 



75, 310 

29,092 

31, 661 

16, 576 

10, 781 

11, 575 

1,763 

1,621 

265 

291 



178, 935 



1, 640, 699 

2, 081, 282 

5,024,512 

5, 869, 639 

7, 536, 970 

24, 212, 092 

12, 247, 099 

33, 544, 067 

18, 354, 139 

87, 083, 453 



197, 593, 950 



960, 245 
756, 916 
714, 592 
434, 058 
575, 386 
711,485 
878, 736 
811,156 
096, 870 
089, 167 



107, 028, 613 



146, 144 
147, 604 
347, 750 
381, 248 
468, 601 

1, 436, 500 
666, 892 

1, 851. 258 
885, 191 

3, 270, 653 



9, 601, 841 



145, 972 
147, 415 
346, 620 
376, 989 
460, 397 

1, 404, 527 
651, 635 

1, 808, 113 
865, 859 

3, 183, 994 



9, 391, 521 



Returns with no net income ' 



153,411 

31, 146 

27, 156 

11,416 

6,806 

6,322 

857 

660 

90 

103 



237, 967 



538, 821 
201, 128 
258, 906 
998, 347 
788, 469 
066, 302 
939, 613 
097, 864 
293, 135 
580, 639 



105, 763, 225 



5, 963, 
2, 850, 

3. 593, 
2, 360, 
2. 254, 

4, 218, 
1, 573, 
2,711, 
1, 185, 
5, 167, 



31, 878, 139 



' 277, 481 
109, 750 
' 169, 539 
139, 114 
' 151,219 
' 328, 560 
' 124, 592 
i 211, 420 
I 133, 321 
' 180, 196 



6 1, 825, 192 



6 277, 646 
9 109, 963 
6 170,283 
4 142, 001 
6 156, 568 
6 348, 885 
6 134, 640 
6 243, 116 
6 141, 450 
6 360, 855 



« 2, 085, 407 



1 For method of tabulating "total assets" and "total liabilities" see explanation, p. 23. 

2 Excludes returns for inactive corporations and returns with fragmentary balance sheet data. 

3 See footnote 8, p. 21. 

< Compiled net profit or loss is the difference between total compiled receipts and total compiled deduction. 

5 "Net income" or "deficit" is the net income for excess-profits tax computation (item 28, schedule A, p. 2, 
Form 1120) which is equal to the difference between "total income" and "total deductions" (items 14 and 
27, respectively, schedule A, p. 2, Form 1120) . The classification of the returns into those "with net income" 
and "with no net income" is based on net income for excess-profits tax computation. For comparison of the 
amounts of net income for 1937 and 1986 with those for years prior to 1936, see p. 2. The difference between 
1937 and 1936 in the bases of the classification of the returns into those "with net income" and "with no net 
income" is stated on p. 8. 

6 Compiled net loss or deficit. 



CONSOLIDATED RETURNS OF RAILROADS 

Under the Revenue Acts of 1934 and 1936, steam and electnc rail- 
road corporations are permitted to file consolidated returns for income 
tax purposes and under the Revenue Act of 1936 the term "railroad" 
includes a street, suburban, or interurban electric railway. Con- 
solidated returns are subject to the same graduated normal tax and 
surtax on undistributed profits applicable to corporations not filing 
consolidated returns. 

According to section 141 (d) of the Revenue Act of 1936, an affiliated 
group, which has the privilege of filing a consolidated return, means 
one or more chains of corporations connected through stock ownership 
with a common parent corporation if — (1) at least 95 percent of the 
stock of each of the corporations (except the common parent cor- 
poration) is owned directly by one or more of the other corporations; 
and (2) the common parent corporation owns directly at least 95 percent 
of the stock of at least one of the other corporations; and (3) each of 
the corporations is either (A) a corporation whose prmcipal business 



28 



STATISTICS OF INCOME 



is that of a common carrier by railroad or (B) a corporation the assets 
of which consist principally of stock in such corporations and which 
does not itself operate a business other than that of a common carrier 
by railroad. The term "common carrier by railroad'' includes steam 
and electric railroads, street, suburban, and interurban electric rail- 
ways, but excludes express, refrigerator, and sleeping car companies. 
Thus, the consolidated returns do not include hotels, coal mines, and 
other extraneous corporations which are owned by railroads, since 
under the law, separate returns must be filed for each of these 
corporations. 

Consolidated returns of railroad corporations, 1937, in aggregate and by returns with 
net income and with no net income: Number of returns, compiled receipts, compiled 
deductions, compiled net profit or net loss, net income or deficit, normal tax, surtax 
on undistributed profits, excess-profits tax, total tax, and dividends paid 
[Money figures in thousands of dollars] 



Number of returns. 



Receipts, taxable income: 

Gross sales 2 

Gross receipts from operations ' 

Interest 

Rents 

Net capital gain 

Dividends from: 

Domestic corporations *. 

Foreign corporations * 

other receipts * 

Receipts, tax-exempt and taxable income: 
Interest on Government obligations: 

Subject to excess-profits tax ' 

Wholly tax-exempt ' 



Total compiled receipts '. 



Deductions: 

Cost of goods sold '" _._ 

Cost of operations " 

Compensation of olTicers '^ 

Rent paid on business property 

Bad debts 

Interest paid 

Taxes paid, other than income and excess-profits taxes '^ 

Contributions or gifts i« 

Depreciation 

Depletion 

Net capital loss '^ 

other deductions " 



Total compiled deductions ". 



Compiled net profit or net loss. 
Net income or deficit ' 



Normal tax 

Surtax on undistributed profits. 
Excess-profits tax 



Total tax. 



Compiled net profit less total tax_. 

Dividends paid in: 

Cash and assets other than corporation's own stock ". 
Corporation's own stock 's 



Aggregate 



93 



3, 507, 498 
43, 342 
20, 165 

1,752 

61, 676 

512 

12, 469 



1,333 
946 



3, 649, 693 



2, 543, 564 

3,007 

16,623 

504 

471, 276 

257, 243 

15 

41, 739 

1,086 

1,268 

429, 132 



20 121, 906 
76, 776 



Returns 
with net 
income ' 



1, 250, 662 

24,880 

5,906 

907 

37, 388 



3,202 



1,272 
793 



1, 325, 010 



864, 036 

559 

2,477 

61 

127, 443 

96, 694 

2 

10, 108 

1,009 

16 

154, 494 



3, 765, 457 


1, 256, 898 


2, 508, 559 


2» 115, 764 
20 116,710 


68, 113 
67, 320 


20 183, 877 
20 184, 036 


5,466 


5,466 

605 

70 




605 




70 








6,142 


6,142 





61, 971 
72, 600 



Returns 

with no net 

income ' 



63 



2, 256, 836 
18, 462 
14, 259 

844 

24, 288 

512 

9,268 



61 

154 



2, 324, 682 



1, 679, 528 

2,448 

14, 147 

443 

343, 833 

160, 549 

12 

31, 631 

76 

1,252 

274, 638 



20 183, 877 
4,176 



1 See footnote 5, p. 27. 

2 See footnote 1, p. 21. 

3 See footnote 2, p. 21. 

* See footnote 3, p. 16. 
' See footnote 4, p. 16. 
6 See footnote 5, p. 21. 

' See footnote 5, pp. 16-17. 

* See footnote 0, p. 17. 
« See footnote 8, p. 21. 
'" See footnote 9, p. 21. 



11 See footnote 10, p. 21. 

12 See footnote 11, p. 21. 
'3 See footnote 12, p. 21 . 
» See footnote 13, p. 21. 
'5 See footnote 14, p. 21. 
16 See footnote 15, p. 21. 
n See footnote 16, p. 21. 
" See footnote 18, p. 21. 
18 See footnote 19, p. 21. 

2" Compiled net loss or deficit. 



STATISTICS OF INCOME 



29 



The number of consolidated returns for 1937 is 93, of which 30 show- 
net income amounting to $67,320,055, while 63 show a deficit of 
$184,030,303. In the preceding table there appears, for the 93 
consolidated returns by returns with net income and with no net 
income, a summary of compiled receipts and compiled deductions, 
compiled net profit or net loss, net income or deficit, normal tax, 
surtax on undistributed profits, total tax, compiled net profit less total 
tax, and dividends paid. All of the 93 consolidated returns filed balance 
sheets and items of assets and liabilities are shown in the following 
table. For descriptive statements of compiled receipts, compiled 
deductions, assets and liabilities, see pages 19-26. 

Data for the 93 consolidated returns of railroads are included in all 
the tables in this report (except that for part year returns). There are 
91 calendar year returns and 2 fiscal year returns. 

Consolidated returns of railroad corporations submitting balance sheets, 1937, in 
aggregate and by returns with net income and with no net income: Number of 
returns, assets and liabilities as of December 31, 1937, or close of fiscal year nearest 
thereto 

[Money figures in thousands of dollars] 



Aggregate 



Returns 
with net 
income ' 



Returns 

with no n^t 

income ' 



Number of returns with balance sheets 2 

Assets: 

Cash 3 

Notes and accounts receivable (less reserve for bad debts). 

Inventories 

Investments, Government obligations * 

Investments, other than Government obligations ' 

Capital assets — Land, biTildings, equipment (less depre^ 

elation and depletion) 

other assets 

Total assets ' — - 

Liabilities: 

Accounts payable ' 

Bonds, notes, mortgages payable: 

Alaturity less than one year ' 

Maturity one year or more ' 

Other liabilities ' -.. 

Capital stock, preferred 

Capital stock, common 

Surplus and undivided profits '" 

Less deficit " 

Total liabilities « 



93 



30 



63 



258, 361 

253, 523 

317, 176 

2,389 

2, 472, 056 

17, 712, 771 
517, 106 



109, 678 

79, 160 

133, 750 

906 

1,061,254 

5, 786, 365 
177, 432 



21, 533, 381 



7, 348, 546 



148, 682 

174, 363 

183, 426 

1,483 

1, 410, 802 

11,926,405 
339, 674 



14, 184, 834 



724, 787 

294, 205 
9, 939, 228 
1, 276, 735 
1, 147, 043 
5, 282, 330 
3, 578. 781 

709, 727 



99,953 

3,135 

2, 713, 867 

216, 046 

193, 845 

2,003,311 

2,119,991 

1,601 



21, 533, 381 



7, 348, 546 



624, 834 

291, 069 
7, 225, 361 
1,060,689 

953, 198 
3, 279, 019 
1, 458, 791 

708, 125 



14,184,834 



For footnotes, see p. 22. 



FISCAL YEAR RETURNS 



Fiscal year returns are filed by corporations whose fiscal year is 
other than the calendar year. These returns are included in all the 
tables in this report (except the one for part year returns). The 
tabulations include all fiscal year returns with year ended in the period 
July 1937 through June 1938 which were received by the Statistical 
Section prior to the final tabulation of the Statistics of Income data. 

In the two following tables, data are shown separately for the fiscal 
year returns with net income and with no net income. In the first 
following table, the number of returns, net income or deficit and taxes 
are classified by the month in which the fiscal year ended, and in the 
second following table, these items are classified by the size of the 
net income or deficit. 

210893—40 3 



30 



STATISTICS OF INCOME 



Fiscal year returns^ of corporal ioris, 19S7, by month in u-hich fiscal year ended and 
by returns irith net income and with no n-et income: Xumber of returns, net income 
or deficit, normal tax, surtax on undistributed profits, atid excess-profits tax 

[IVIonejr figures in thousands of dollars] 





Total 
number 

of 
returns 1 


Returns with net income ' 


Returns with no 
net income ' 


Fiscal year ended 


Xumber 


Net 
income' 


Normal 
tax 


Surtax 
on undis- 
tributed 

profits 


Excess- 
profits 
tax 


Number 


Deficit ' 


July 1937 


5.562 
6.088 
6,813 
6,485 
5.941 
8.604 
5.515 
7.491 
7.007 
6.974 
14.2SS 


2.517 
2.700 
2.8n 
2,802 
2,978 
4.369 
2,146 
2.782 
2.512 
2.612 
5. 561 


60,201 
125.899 
102, 113 
213,946 
105,209 
210. 612 
87.988 
68,780 
51, 206 
48.656 
136. 877 


7.027 

14.722 

12.201 

25,065 

1Z161 

27, 255 

9.192 

8,083 

a 302 

5,852 

16,311 


1,687 
2,807 
2,895 
6,610 
2,432 
5,960 
820 
1,824 
1.085 
1.156 
2.903 


442 
709 
721 
1,394 
711 
363 
270 
443 
288 
251 
681 


3,045 
3,3SS 
3,942 
3,683 
2,963 
4,235 
3,399 
4,709 
4.495 
4.362 
8,727 


14,523 


Ausust 1937 


14.788 


September 1937 

October 1937. - 

Xovember 1937 

January 1938 

February 1938 

March 1938 


27.100 
27. 575 
35. 127 
23.463 
14.530 
28.044 


April 19 S 

Mav 1938 


31. 073 
27.911 


June 1938 


78. 065 






Total... 


80.798 


33.850 


1. 211. 486 


144, 172 


30. 179 


6,273 


46.948 


322, 199 



1 Excludes returns for inactive corporations. 
See footnote 5, p. 27. 

Fiscal year returns ^ of corporations, 1937, by mt income and deficit classes: Xumber 
of returns, net income or deficit, normal tax, surtax on undistributed profits, and 
excess-profits tax 

[Net income and deficit classes and money figures in thousands of dollars] 





Returns with net income » 


Returns with no 
net income ' 


Net income and deficit 
classes^ 


Number 


Net in- 
come » 


Normal 
tax 


Surtax 
on undis- 
tributed 

profits 


Excess- 
profits 
tax 


Number 


Deficit ' 


Under 1 


11,690 

4,050 

2,617 

1,746 

1,315 

3,802 

1.911 

1.147 

809 

1.926 

1.238 

SS9 

360 

193 

139 

18 


4,376 

5,944 

6,480 

6,122 

5.942 

27.388 

23.579 

20.098 

18,327 

67.871 

86.595 

136.229 

125.327 

132. 867 

273.753 

270. .iS7 


336 

462 

534 

545 

551 

2,655 

2,354 

2,075 

1.970 

7,543 

10.548 

17, 131 

15,943 

17,567 

31.475 

32.483 


222 

258 

257 

217 

199 

872 

724 

623 

558 

1,960 

2.301 

3,378 

3,541 

3,213 

4.986 

6.8« 


21 

56 

44 

49 

41 

232 

213 

200 

165 

507 

641 

837 

763 

850 

985 

670 


23,976 

6.644 

3.607 

2,254 

1.607 

3.761 

1,675 

824 

520 

1,062 

584 

298 

79 

39 

17 

1 




I nnder 2 


9.543 


2 nnder 3 


8.835 


3 under 4 


7.818 


4under5., 

.■; nnder io 


7.193 
26.338 


10 under 15 

15 nnder 20 


20.340 
14.123 


20 under 25 

2o under 50 


11.575 
36. 793 


50 under 100 


39. 730 


100 under 250 


46.644 


250 under 500 


26,884 


500 under 1.000. . 


25.221 


1,000 under 5.000 

5,000 and over 


27.850 
5.446 








Total 


33.850 


1, 211, 486 


144. 172 


30.179 


6.273 


46.948 


322.199 



> See footnote 1, above. 
'See footnote 1, p. 9. 



PART YEAR RETURNS 



The returns filed by corporations sho^%-ing income for less than 12 
months represent reorganizations, newly organized businesses, hquidat- 
ing corporations, and changes from calendar year to fiscal year basis, 
or vice versa. These returns are included m all text tables (except 
those for consohdated returns and for fiscal year returns) and in all 
basic tables in this report. The part year returns tabulated herein 



STATISTICS OF INCOME 31 

represent those in which the greater part of the income period was 
in 1937. 

Part year returns of 
corporations, 1937 

Total number of returns 30, 290 

Returns with net income ^: 

Number 8, 408 

Net income i $216, 767, 747 

Normal tax $25, 373, 299 

Surtax on undistributed profits $5, 565, 506 

Excess-profits tax $2, 598, 647 

Total tax $33, 537, 452 

Returns with no net income ': 

Number 21, 882 

Deficit! SllO, 707, 814 

> See footnote 5, p. 27. 

FREQUENCY DISTRIBUTION OF CORPORATION RETURNS BY CERTAIN BASIC 

CLASSIFICATIONS 

Frequency distributions of the corporation income and excess-profits 
tax returns by certain basic classifications are presented in basic 
tables 9-12. 

The returns in basic tables 9 and 10 are those of corporations sub- 
mitting balance sheets with total assets of $250,000 and over. Basic 
table 9 shows the number of returns by total receipts classes, cross- 
classified by total assets classes, by returns \v'ith net income and with 
no net income and by major industrial groups. Basic table 10 shows 
the number of returns by net income and deficit classes, cross-classified 
by total receipts classes, and by major industrial groups. 

In connection with the classification of corporations bj" size of total 
assets, it must be borne in mind that, on the balance sheet, schedule X, 
of the corporation income tax return (facsimile on p. 2.36), reserves for 
depreciation and depletion of capital assets are deducted from the 
gross amount of capital assets and reserves for bad debts are deducted 
from the gross amount of accounts receivable. Moreover, certain 
adjustments are made in the amount of total assets and total Habilities 
for items which are not reported correctly on the balance sheet of the 
return under assets and liabilities (see p. 23). 

The total receipts on which the total receipts classes are based are 
limited to either gross sales, less returns and allowances (item 1, 
schedule A, p. 2 of return), or gross receipts from operations (item 4, 
schedule A, p. 2 of return), or the sum of both when reported on the 
same return. "Gross sales" is reported when inventories are an 
income-determining factor and "Gross receipts from operations" is 
reported when inventories are not an income-determining factor. 

Basic table 11 shows the number of returns \STLth balance sheets, by 
net income or deficit classes, cross-classified by total assets classes and 
by major industrial groups. 

Basic table 12 shows the number of returns by net income or deficit 
classes, cross-classified by dividends received classes, and by certain 
major industrial groups. The major industrial groups in basic 
table 12 are limited to those for which the aggregate amount of 
dividends received from domestic corporations is over 850,000,000. 
The dividend classes are based on the amount of dividends received 
from domestic corporations subject to taxation under Title I of the 
eft'ective revenue acts (col. 2, schedide F, p. 3 of return). 



32 



STATISTICS OF INCOME 



HISTORICAL SUMMARIES 

A resume of the corporation returns showing number of returns, 
gross income, net income, deficit, tax, and the items of compiled 
receipts, compiled deductions, assets and liabilities is shown in the 
following tables. Attention is called to the fact that the amounts 
of money in the tables on pages 35-38 are in millions of dollars. 

Corporation returns for tlie years 1928 through 1937 by States 
and Territories, for returns with net income and with no net income, 
showing number of returns, gross income, net income or deficit, and 
tax, are presented in basic table 8, pages 146-156. Similar data are 
shown by major industrial groups for the years 1928 through 1937 
in basic table 7, pages 140-145. 

Certain data and classifications of the returns for 1934 through 
1937 are not strictly comparable with those for prior years (see 
Statistics of Income for 1934, Part 2, pp. 19-29), and furthermore, 
certain data and classifications of the returns for 1936 and 1937 are 
not strictly comparable with those for 1934 and 1935. For the 1936 
and 1937 returns, gross income, deductions, compiled receipts, com- 
piled deductions, compiled net profit, net income, deficit, and tax 
liability, as well as the classification of the returns with net income 
and with no net income, are materially affected by the provisions of 
the Revenue Act of 1936. The major changes contained in the pro- 
visions of this act, affecting the tabulated data for corporations, are 
summarized in the section of this report entitled "Revenue Acts of 
1913-37 and certain tax provisions of the National Industrial Re- 
covery Act (1933) ; also the special excise tax under the act of August 5, 
1909," pages 221-227. 

Corporations, 1909-37, by returns with net income and with no net income: Number 
of returns, gross income, net income or deficit, income lax, war-profits tax and 
excess-profits tax, and total tax ^ 

[Money figures in thousands of dollars] 





Total 
number 

of re- 
turns 2 


Returns with net income ' 


Year 


Number 


Gross 
income 


Net 
income ' 


Income 
tax* 


1909« 


262,490 
270, 202 
288, 352 
305, 336 
316, 909 
299, 445 
366,443 
341, 253 
351, 426 
317, 579 
320, 198 
345, 595 
356, 397 
382, 883 
398, 933 
417,421 
430, 072 
455, 320 
475,031 
495,892 
509, 436 
518,736 
516,404 
508, 636 
504, 080 
528, 898 
533, 631 
530, 779 
529, 097 


52, 498 
54,040 
55, 129 
61, 116 
188, 866 
174, 205 
190,911 
206,984 
232, 079 
202, 061 
209, 634 
203, 233 
171,239 
212, 535 
233, 339 
236, 389 
252, 334 
258, 134 
259, 849 
26S, 783 
269, 430 
221, 420 
175, 898 
82, 646 
109, 786 
145, 101 
164,231 
203, 161 
192, 028 




3, 590, 000 
3, 761, 000 

3, 503, 000 
4, 151, 000 
4, 714, 000 
3, 940, 000 
5, 310, 000 
8,765,909 

10, 730, 360 
8,361,511 
9,411,418 
7, 902, 655 

4, 336, 048 
6,963,811 

8, 321, 529 
7, 586, 652 

9, 583, 684 
9, 673, 403 
8,981,884 

10,617,741 
11,653,886 
6,428,813 
3, 683, 368 
2,153,113 
2,985,972 

4, 275, 197 

5, 164, 723 
9,478,241 
9, 634, 837 


20,960 


1910' 




33, 512 


1911« 




28, 583 


1912» 




35, 006 


1913 « 




43, 128 


1914« - 




39, 145 


1915 «.. 




56, 994 


1916 


32,531,097 
79, 540, 005 

79, 706, 659 
88,261,006 
93, 824, 225 
60, 051, 123 

80, 331, 680 
97, 457, 479 
97, 158, 997 

113,692,083 
118,022,117 
115,324,340 
' 127, 369, 525 
129, 633, 792 
' 89, 561, 495 
52, 051, 035 
31,707,963 
46, 752, 366 
62, 920, 954 
77,441,506 
104, 703. 755 
108, 989, 095 


171, 805 


1917 


503, 698 


1918 


653, 198 


1919 


743, 536 


1920 


636, 508 


1921 


366, 444 


1922 


775, 310 


1923 - . 


937, 106 


1924 


881, 550 


1925. 


1,170,331 


1926 


1, 229, 797 


1927 


1, 130, 674 


1928 


1, 184 142 


1929 


1, 193.436 


1930 


711 704 


1931 


398, 994 


1932 


' 285, 576 
416, 093 


1933 


1934 


588, 375 
710 156 


1935 


1936 


1, 169, 765 


1937.. 


1, 232, 837 





For footnotes see p. 33 . 



STATISTICS OF INCOME 



33 



Corporations, 1909-87, by returns with net income and with no net income: Number 
of returns, gross income, net income or deficit, income tax, war-profits tax and 
excess-profits tax, and total tax ' — Continued 

[Money figures in thousands of dollars] 





Returns with net 
income 3— Continued 


Returns with no net income s 


Year 


War-profits 
and excess- 
profits 
tax 6 


Total tax 


Number 


Gross 
income 


Deficit 3 


1909 6 




20, 960 

33, 512 

28,583 

35,006 

43, 128 

39, 145 

56, 994 

171, 805 

2, 142, 446 

3, 158, 764 

2, 175, 342 

1,625,235 

701, 576 

783, 776 

937, 106 

881, 550 

1, 170, 331 

1, 229, 797 

1, 130, 674 

1, 184, 142 

1, 193, 436 

711, 704 

398,994 

' 285, 676 

423, 068 

596, 048 

735, 125 

1, 191, 378 

1, 276, 172 


209,992 
216. 162 
233, 223 
244, 220 
128,043 
125, 240 
175, 532 
134, 269 
119,347 
115,518 
110, 564 
142, 362 
185, 158 
170, 348 
165, 594 
181,032 
177, 738 
197, 186 
165, 826 
174, 828 
186, 591 
241, 616 
283, 806 
369, 238 
337, 056 
324, 703 
312, 882 
275, 696 
285,810 






1910 « 








1911 6 








1912 6 








1913 6 








1914 6. ... 








19156 .. 








1916 




2, 796, 534 
5, 153, 234 
6, 757, 622 
11,657,743 
24, 381, 338 
31, 198, 150 
20, 588, 835 
21, 106, 184 
22, 070, 497 
' 20, 568, 068 
24, 107, 736 
29, 074, 102 
'25,411,989 
30, 987, 717 
46, 500, 564 
55, 464, 204 
49, 375, 775 
36, 890, 055 
37, 910, 299 
36, 494, 664 
27, 514, 178 
32, 977, 981 


656, 904 


1917 


1, 638, 748 

2, 505, 566 

1,431,806 

988, 726 

335, 132 

8,466 


629, 608 


1918 


689, 772 


1919 


995, 546 


1920 


2, 029, 424 


1921. 


3. 878, 219 


1922 


2, 193, 776 


1923 


2,013,555 


1924 . 




2, 223, 926 


1925 - 




1, 962, 628 


1926 




2, 168, 710 


1927 .- 




2, 471, 739 


1928 




2, 391, 124 


1929 




2,914,128 


1930 . 




4, 877, 595 


1931 




6,970,913 


1932.. 




7, 796, 687 


1933 


6,976 

7,673 

24, 969 

21,613 

43, 335 


5, 533, 339 


1934. ■. 


4, 181, 027 


1935 .- 


3, 468, 774 


1936 


2,152,024 


1937 


2, 280, 846 







1 Changes in the revenue acts affectinp the comparability of statistical data from income tax returns of 
corporations are summarized on pp. 221-227; textual discussion appears on pp. 3-4 and 32. 

2 Includes returns of inactive corporations. 

3 The classification of returns into those "with net income"' and "with no net income" is based on returns 
with tax liability or with no tax liability for 1909-12, on the net income for excise or income tax computation 
for 191.3-19, on the current year net income (before deduction of prior year loss) for 1920-32, on the net income 
for income tax computation for 1933-36, and on the net income for excess-profits tax computation for 1937. 
Prior to 1927, returns for inactive corporations with no income data are included in returns with no net 
income. "Net income" or "deficit" represents the amount for excise or income tax computation and, to a 
limited extent, additions made as the result of an audH for 1909-15, the amount for income tax computation 
for 1916-19, the current year net income or deficit (before deduction of prior year loss) for 1920-32. the amount 
for income tax computation for 1933-35, and the amount for excess-profits tax computation for 1936 and 1937. 

4 For 1909-15, the amounts are receipts which include interest and penalties resulting from additional 
assessments. For 1909-12, the amounts are the special excise tax on corporations. For 1913, consists of 
income tax .$32,456,663 and excise tax. .$10,671,077. For 1936 consists of income tax reported on returns with 
fiscal year ended July through November 1936 (and returns with part year which began in 1935), graduated 
normal tax, surtax on undistributed profits, and flat normal tax for corporations not subject to the graduated 
rates, reported on returns filed for the calendar year 1936 and for fiscal or part years ended in the period 
January through June 1937. For 1937, consists of graduated normal tax, surtax on undistributed profits, 
and flat normal tax for corporations not subject to the graduated rates. 

s The excess-profits tax for 1933 became effective June 30, 1933, under the tax provisions of the National 
Industrial Recovery Act. For 1934 and 1935, includes a small amount of excess-profits tax which appears 
on returns with no net income for income tax purposes because the credit for interest received on certain 
obligations of the United States and its instrumentalities, which is allowed against net income in the com- 
putation of the income tax, is not allowed against net income in the computation of the excess-profits tax. 
(See art. 1(d), Treasury Decision 4459, "Regulations relating to excess-profits tax imposed by sec. 702 of 
the Revenue Act of 1934.") 

6 For 1909-15 data are for the fiscal year ended June 30 of the following year as shown in the annual reports 
of Commissioner of Internal Revenue; 1915 contains data from approximately 32,000 returns related to 1914. 
(See Annual Report. Commissioner of Internal Revenue.) 

' Revised. For revised figures for 1925, see Statistics of Income for 1935, Part 2, p. 21, footnote 7. For 
revised figures for 1928, see Statistics of Income for 1930, p. 238; for revised figures for 1930, see Statistics of 
Income for 1931, pp. 32 and 33; and for revised figures for 1932, see Statistics of Income for 1933, p. 37. 



34 



STATISTICS OF INCOME 



Corporations, 1934-37, by net income and deficit classes: Number of returns, and net 

income or deficit ^ 

[Net income and deficit classes and money figures in thousands of dollars] 





1934 


1935 


1936 


1937 


Net income classes * 


Number 

of 
returns 


Net in- 
come' 


Number 

of 
returns 


Net in- 
come 2 


Number 

of 
returns 


Net in- 
come ' 


Number 

of 
returns 


Net in- 
come ' 




Returns with net income ' 


Under 1 


63, 212 

17, 836 

10, 245 

6,752 

4,986 

13, 191 

6,553 

3,907 

2,697 

6,425 

4,080 

2,946 

1,092 

599 

483 

97 


20, 568 

25, 680 

25, 224 

23, 469 

22, 293 

93, 873 

80,315 

67, 669 

60, 512 

226, 765 

286, 729 

457, 010 

379,419 

424, 504 

943, 413 

1, 137, 754 


68, 392 

19, 971 

11,995 

7,820 

5,715 

16,014 

7,818 

4, 653 

3.280 

7,547 

4,840 

3,445 

1,335 

696 

597 

113 


22, 692 

28, 820 

29,517 

27, 097 

25, 552 

114,074 

95, 733 

80, 779 

73, 201 

266, 200 

339, 824 

532, 038 

464, 391 

485, 093 

1,166,034 

1,413,077 


74, 728 

24, 526 

14, 767 

10, 320 

7,864 

21, 438 

10, 939 

6,302 

4,447 

10, 959 

7,046 

5,233 

2,107 

1,197 

1,058 

230 


26, 107 

35, 946 

36, 666 

36, 164 

35, 554 

153,967 

135,344 

110,144 

100, 175 

388,413 

498, 682 

813, 120 

738, 865 

835, 894 

2, 145, 833 

3, 387, 367 


71,111 

23, 079 

14, 340 

9,707 

7,407 

20, 538 

10,000- 

6,161 

4,180 

9,879 

6,377 

4,878 

1.938 

1,139 

1,046 

248 


25, 430 


1-2 


34, 066 


2-3 


35, 762 


3-4 -. 


34, 104 


4-5 


33, 570 


5-10 


148, 166 


10-15 


124,070 


15-20 


108, 043 


20-25 


94, 649 


25-50 


350, 281 


50-100 


449, 228 


100-250 


756, 190 


250-500 - 


682, 812 


500-1,000 


796, 055 


1,000-5,000 


2, 135. 892 


5,000 and over 


3, 826, 519 


Total ._ 


145, 101 


4, 275, 197 


164, 231 


5, 164, 723 


203, 161 


9, 478, 241 


192, 028 


9, 634, 837 






1934 


1935 


1936 


1937 


Deficit classes ' 


Number 

of 
returns 


Deficit « 


Number 

of 
returns 


Deficit 2 


Number 

of 
returns 


Deficit ' 


Number 

of 
returns 


Deficit » 








Ret 


urns with c 


net incc 


me ' 








161, 078 
44, 376 

25, 061 
15, 708 
11, 132 

26, 955 
11,208 

6,154 

4,019 

8,915 

4,942 

3,160 

1,002 

542 

396 

55 


51, 967 
64, 010 
61. 548 
54, 429 
49, 794 
190, 322 
137, 118 
106, 336 
89, 786 
311,044 
344, 082 
489, 854 
347, 931 
382, 472 
833, 724 
666, 612 


164, 179 

43,106 

23, 492 

14, 579 

10, 093 

23, 682 

9,636 

5,271 

3,406 

7,369 

3,952 

2, 466 

812 

429 

356 

54 


51, 841 
62, 247 
57, 742 
50, 578 
4.5, 217 
166,531 
117, 556 
90, 821 
76, 081 
255, 803 
274, 521 
373, 603 
280,113 
293, 646 
711,673 
560, 801 


158,701 

36, 657 

19, 342 

11,634 

7, 857 

18,064 

7,073 

3,781 

2,392 

5,021 

2,615 

1,613 

500 

232 

186 

28 


48, 026 
52, 756 
47, 338 
40, 301 
35, 147 
126, 569 
86, 156 
65, 485 
53, 389 
174,769 
180, 523 
242, 989 
173,554 
159,977 
385, 179 
279, 865 


162, 530 

38, 953 

20, 305 

12,111 

8,326 

19, 210 

7,675 

3,902 

2,479 

5,084 

2,759 

1,544 

470 

242 

187 

33 


48,842 


1-2 


55, 481 


2-3 


49, 504 


3-4 


41,887 


4-5... 


37, 223 


5-10 .. 


134, 614 




93, 358 


15-20 


67, 335 


20-25 


55, 241 


25-50 . 


176, 442 


■50-100 


190, 181 


100-250 


236, 355 


-250-500 


160,713 


500-1,000 


169,930 




372, 665 


5,000 and Over 


391, 076 


Total 


324, 703 
59, 094 


4, 181, 027 


312, 882 
56, 518 


3, 468, 774 


275, 696 
51, 922 


2, 152, 024 


285, 810 
51, 259 


2, 280, 846 


Number of returns of 
inactive corpora- 
tions. . -. .. 













• Changes in the revenue acts affecting the comparability of statistical data from income tax returns of 
corporations arc summarized on pp. 221-227; textual discussion appears on pp. 3-4 and 32. Figures for 
returns with not income f.>r 1918 and 1920 to 1924, inclusive, and for returns with net income and no net 
income for 1925 to 1930, inclusive, appear in Statistics of Income for 1930, pp. 49-51. Figures for returns with 
net income and with no net income for 1931, 1932, and 1933 appear in Statistics of Income for 1934, Part 2, 
pp. 36 and 37. 

' The classification of returns into those "with net income" and "with no net income" is based on the 
net income for income tax computation for 1934-36 and on net income for excess-profits tax computation for 
1937. "Net income" or "deficit" represents the amount for income tax computation for 1934 and 1935 and 
the amount for excess-profits tax computation for 1936 and 1937. 



STATISTICS OF INCOME 



35 



Corporations 1926-37: Number of returns, compiled receipts and compiled deductions, 
compiled net profit or net loss and net income or deficit i 

[Money figures in millions of dollars] 



1926 1927 



1928 



1929 



1930 1931 



Number of returns 2. 



455, 320 



425, 675 



443, 611 



456, 021 



463, 036 



Receipts, taxable income: 

Gross sales ^ 

Gross receipts from operations ' (1932-37) - _ 

Gross profit from operations ^ (1926-31) 

Interest 

Rents 

Net capital gain (sale of stocks, bonds, and 

other assets) ^ 

Dividends from: 

Domestic corporations ^ (1936 and 1937) . 

Foreign corporations 

Other receipts 

Receipts, tax-exempt and taxable income: 
Dividends from domestic corporations ' 

(1926-35) 

Interest on Government obligations: 

Subject to excess-profits tax * (1934-37) - . 
Wholly tax-exempt ' 



106, 206 



106, 864 



112,436 



118, 101 



20 97, 941 



9,332 
3,712 

(21) 
(21) 



9,420 
3,989 

(21) 
(21) 



10, 334 

4,476 

(21) 
(21) 



28, 598 
5,036 
2,391 

1,315 



25, 267 
4,707 
2,480 

646 



(21) 

21, 373 



1,506 



(21) 

22, 468 



1,658 



(21) 

2» 23, 619 



(21) 

2,587 



2,593 



(21) 

20 2, 450 



2,571 



501 



20523 



537 



20 526 



Total complied receipts 'o. 



142, 629 



144, 899 



20 153, 305 



161, 158 



20 136, 588 



Deductions: 

Cost of goods sold •' 

Cost of operations 12 (1932-37) 

Compensation of officers is 

Rent paid on business property 

Bad debts 

Interest paid 

Taxes paid, other than income and excess- 
profits taxes 14 

Contributions or gifts 's (1936 and 1937) 

Depreciation 

Depletion 

Net capital loss (sale of stocks, bonds, and 

other assets) 10 

Other deductions " 



82, 484 



83,487 



87, 265 



91, 076 



20 76, 190 



(23) 
(23) 
(23) 

3,98 



(23) 
(23) 

814 
4,375 

2,014 



3,199 

(23) 

804 
4,581 

2,203 



3,337 

(23) 

942 
4,925 

2,222 



3,139 

(23) 

980 
4,861 

2,297 



3,270 
571 



(23) 

40, 927 



3,346 
502 



(23) 

41, 692 



3,597 
515 

(23) 

20 40, 473 



3,871 
559 



(23) 

42, 357 



3,i 



463 



936 

20 39, 088 



Total compiled deductions. 

Compiled net profit or net loss '8. 
Net income or deficit " 



133, 119 



136, 230 



20 142, 638 



149, 289 



20 131, 940 



9,510 
7,505 



8,669 
6,510 



20 10, 667 
8,227 



11,870 
8,740 



20 4, 649 
1,551 





1932 


1933 


1934 


1935 


1936 


1937 


Number of returns 2 


451, 884 


446, 842 


469, 804 


477, 113 


478, 857 


477, 838 






Receipts, taxable income: 

Gross sales 3 _ _ 


20 53, 294 
20 19, 584 


57, 777 
18, 982 


74, 309 
18, 552 


85, 332 
19, 790 


100, 586 
22, 886 


108, 383 


Gross receipts from operations < (1932-37) 

Gross profit from operations ' (1926-31) 


24, 862 


Interest .. 


3,491 

1,926 

142 


2,786 

1,650 

262 


2,696 

1,585 
243 


2,566 

1,643 

470 


2,543 

1,518 

581 

2,677 

(21) 

1,208 


2,601 


Rents. . .- --- 


1,549 


Net capital gain (sale of stocks, bonds, and 
other assets) « 

Dividends from: 

Domestic corporations " (1936 and 1937),. 


305 
2,682 


Foreign corporations . 


(21) 

1,387 
1,260 


(21) 

1,159 
1,026 


(•21) 

1,229 
2,217 

(22) 

20 659 


(21) 

1,122 
3,014 

(22) 

714 


209 


Other receipts -.._ 


1, lU 


Receipts, tax-exempt and taxable income: 

Dividends from domestic corporations ' 
(1926-35) 




Interest on Government obligations: 

Subject to excess-profits tax ' (1934-37) . 


280 
445 


265 


Wholly tax-exempt 9- - . 


554 


592 


476 






Total compiled receipts 'o 


81, 638 


84, 234 


20101.490 


114,6.50 


132, 723 


142, 443 







For footnotes, see p. 36. 



36 



STATISTICS OF INCOME 



Corporations 1926-87: Number of returns, compiled receipts and compiled deductions, 
compiled net profit or net loss and net income or deficit^ — Continued 

[Money figures in millions of dollars] 



1932 



1934 



1935 



1936 



1937 



Deductions: 

Cost of soods sold •' 

Cost of operations 12 (1932-37) 

Compensation of officers '3 

Rent paid on business property 

Bad debts 

Interest paid 

Taxes paid, other than income and excess- 
profits taxes '* 

Contributions or gifts i« (1936 and 1937) 

Depreciation 

Depletion 

Net capital loss (sale of stocks, bonds, and 

other assets) '^ 

Other deductions i? 



20 41, 430 

(J3) 

2,133 

(23) 

1,313 
4,043 

2,087 



43, 626 
9,420 
1,995 
1,422 
1,249 
3,511 

2,124 



57, 458 
8,670 
2,173 
1,486 
1,182 
3,422 

2,162 



66, 279 
9,190 
2,345 
1,542 
965 
3,261 

2,628 



3,693 
247 



1,705 

20 28, 816 



3,496 
246 



1,686 
16, 390 



3,362 
312 



297 
17, 996 



3,352 
349 



239 
19, 07C 



78, 023 

10, 859 

2,713 

1,530 

901 

3,081 

2,958 

30 

3,286 

437 

142 

20, 991 



84, 168 

12, 231 

2,809 

1,565 

756 

3,003 

3,666 

33 

3,342 

524 

165 

22, 352 



Total compiled deductions. 

Compiled net profit or net loss '« 
Net income or deficit i' 



2< 3, 829 
2< 5, 644 



85, 164 



98, 520 



109, 227 



124, 952 



134, 613 



2<930 
2< 2, 547 



20 2, 970 
94 



5,423 
1,696 



7,771 
7,326 



7,830 
7,354 



1 Changes in the revenue acts affecting the comparability of statistical data from income tax returns of 
corporations are summarized on pp. 221-227: textual discussion appears on pp. 3-4 and 32. 

2 Excludes returns for inactive corporations, except for 1926. 

' For 1926-31, gross sales, less returns and allowances, from trading and manufacturing. For 1932-37, 
gross sales, less returns and allowances, whore inventories are an income-determining factor. For "cost of 
goods sold" see "deductions." 

* Gross receipts from operations where inventories are not an income-determining factor. Includes for a 
limited number of returns the cost of securities purchased for customers. For "cost of operations" see "de- 
ductions." 

5 Gross profit from operations other than trading and manufacturing. 

6 For 1932 and 1933, consists of net gain on sale of stocks and bonds held 2 years or less plus net gain or minus 
net loss on sale of capital assets. 

' Excludes dividends from corporations organized under the China Trade Act, 1922, and corporations 
entitled to the benefits of sec. 251 of the Revenue Act of 1936 or corresponding provisions of prior revenue 
acts, which are included in "other receipts." 

8 For 1936. consists of interest on United States savings bonds and Treasury bonds owned in principal 
amount of over $.^000 and on obligations of instrumentalities of the United States other than those issued 
under the Federal Farm Loan Act. or such act as amended. For 1937, consists of interest on United States 
savings bonds and Treasury bonds owned in principal amount of over $5,000. 

For 1934 and 1935. includes interest subject to excess-profits tax. For 1936, consists of interest on obliga- 
tions of States, Territories, or political subdivisions thereof, or the District of Columbia, or United States 
possessions; obligations issued under the Federal Farm Loan Act, or such act as amended; obligations of 
the United States issued on or before Sept. 1, 1917; Treasury notes. Treasury bills. Treasury certificates of 
indebtedness; and United States savings bonds and Treasury bonds owned in principal amount of $5,000 and 
under. For 1937, in addition to the interest on all obligations specified for 1936, includes interest on 
obligations of instrumentalities of the United States other than those issued under the Federal Farm Loan 
Act. or such act as amended. 

10 Excludes nontaxable income other than interest on tax-exempt Government obligations and dividends. 

" Includes taxes which are reported in "cost of goods sold." 

12 Includes taxes which are reported in "cost of operations" and for a limited number of returns the cost 
of securities purchased for customers. 

13 Excludes compensation of officers of life-insurance companies which file Form 1120L. 
1* Excludes taxes reported under "cost of goods sold" or "cost of operations." 

■■■ Limited to 5 percent of net income before deduction of contributions or gifts. 

1* For 1932 and 1933, consists of net loss nn sale of capital assets in excess of net gain from the sale of stocks 
and bonds held 2 years or less. For limitation on amount of net capita! loss that may be allowed for 1934-37 
see section of this report entitled "Revenue .^cts of 1913-37." etc., pp. 224-225, note 5" (d). 

1' Includes special nonexpcnse deduction items allowed life-insurance companies. 

" "Total compiled receipts" less "total compiled deductions." 

1' For 1926-32, current year net income or deficit, i. e., before deduction of prior year loss ("compiled net 
profit or net loss" less the sum of "dividends from domestic corporations" and "interest on Government 
obligations.") For 1933-35, net income or deficit for income tax computation ("compiled net profit or net 
loss" less the sum of "dividends from domestic corporations" and "interest on Government obligations"). 
For 1936 and 1937, net income or deficit for excess-profits tax computation ("compiled net profit or net loss" 
less "Interest on Government obligations wholly tax-exempt"). 

20 Revised. For revised figures for 1928. see Statistics of Income for 1930, p. 238, and Statistics of Income 
for 1935, Part 2. note 14. p. 24; for revised figures for 1930. see Statistics of Income for 1931, pp. 32 and 33; 
for revised figures for 1932, see Statistics of Income for 1933, p. 37; and for revised figures for 1934, see Sta- 
tistics of Income for 1935, Part 2, note 14, p. 24. 

21 Included in "other receipts." 

22 Included in "interest on Government obligations wholly tax-exempt." 

23 Included in "other deductions." 
X Compiled net loss or deficit. 



STATISTICS OF INCOME 



37 



Corporations suhmitting balance sheets, 1926-37: Number of returns, assets and 
liabilities as of the end of ihe calendar year or close of fiscal year nearest thereto, 
compiled receipts and deductions, compiled net profit or net loss, and net income 
or deficit ^ 

[Money figures in millions of dollars] 





1926 


1927 


1928 


1929 


1930 


1931 


Number of returns with balance sheets 2 


359,449 


379, 156 


384, 548 


398, 815 


403, 173 


381,088 


Assets: 

Cash 3--- --- - - 


16,802 

23,552 
20,939 
8,694 

(26) 

97, 523 
2S94,669 


16, 851 

50, 959 

21,005 

9,781 

(26) 

104, 945 
84, 001 


21, 952 

62, 804 
20, 751 
10,116 

(26) 

109, 931 
81, 663 


22, 371 

66,810 
21,911 
10, 338 

2-55,844 

116,446 
2742,057 


21,012 

59,675 
IS, 771 
10,228 

83,809 

120,994 
19,511 


15,880 

48, 667 
15, 140 
10, 667 

28 75, 305 

28 114,303 
16, 534 


Notes and accounts receivable Gess re- 
serve for bad debts, except 1926) _. 


Inventories 

Investments, Government obligations 

Investments, other than Government 
obligations _ 

Capital assets — Land, buildings, equip- 
ment (less depreciation and depletion)_. 

Other assets 






Total assets * 


2' 262, 179 


287, 542 


307, 218 


335,778 


334, 002 


296, 497 




Liabilities: 

Notes and accounts payable s (1926-36)_— 

Bonded debt and mortgages ^ (1926-36) 

Accounts payable (1937) 


24,042 
28 31, 801 


24, 126 
28 37, 740 


27, 437 
42, 943 


29, 453 
46, 643 


26,870 
50,282 


23, 251 

48, 101 


Bonds, notes, and mortgages payable 
(1937): 
Maturity less than 1 year 














Maturity 1 year or more 














Other liabilities ' 


28 87,076 

17, 146 

67,517 

39, 154 

4,557 


28 93, 274 

17, 800 

74,081 

45,415 

4,893 


93, 950 
18,475 
77,256 
52, 069 
4,913 


28 99, 314 
19, 738 

28 85,520 
60,699 

5,588 


28 95, 568 
19,117 
87,067 

28 61,832 
6,734 


28 81,782 


Capital stock, preferred 


28 19,217 


Capital stock, common 


79,794 


Surplus and undivided profit ' - 


51, 976 


Less deficit" -. 


7,624 






Total liabilities * 


2S 262, 179 


287, 542 


307, 218 


335, 778 


334, 002 


296, 497 






Receipts, taxable income: 

Gross sales '» 












73, 783 


Grossreceipts from operations i' 












29 21,206 


Interest 












4,024 


Rent 












2,110 


Net capital gain (sale of stocks, bonds, and 
other assets)'^ _.. 












284 


Dividends from: 

Domestic corporations " (1936 and 
1937) 














Foreign corporations (1931-37) 












(30) 














1,393 


Receipts, tax-exempt and taxable income: 
Dividends from domestic corporations '' 
(1931-35) 












1,905 


Interest on Government obligations: 
Subject to excess-profits tax '< (1934- 
37) 














Wholly tax-exempt '' 












533 
















Total compiled receipts " 












105, 238 
















Deductions: 

Cost of goods sold " 












57, 374 


Cost of operations '8 (1932-37) 












(29) 


Compensation of officers i'.. 












2,574 


Rent paid on business property 












(32) 


Bad debts 












1,153 


Interest paid 












4,369 


Taxes paid, other than income and excess- 
profits taxes 20 ... 












2,172 


Contributions or gifts 21 (1936 and 1937) - - - 














Depreciation 












3,933 


Depletion 












261 


Net capital loss (sale of stocks, bonds, and 
other assets) 22 












1,539 


Other deductions 23 .. 












32, 351 
















Total CO mulled deductions 












105, 725 
















Compiled net profit or net loss 24 












33 487 


Net income or deficit 25... 












33 2, 925 

















For footnote, see pp. 38,39. 



38 



STATISTICS OF INCOME 



Corporations submitting balance sheets, 1926-37: Number of returns, assets and 
liabilities as of the end of the calendar year or close of fiscal year nearest thereto, 
compiled receipts and deductions, compiled net profit or net loss, and net income 
or deficit ^ — Continued 

[Money figures in millions of dollars] 



1933 



1934 



1935 



1936 



Number of returns with balance sheets '^. 



392, 021 



388, 564 



415, 205 



415, 654 



Assets: 

Cash 3 

Notes and accounts receivable (less reserve 
for bad debts, except 1926) - 

Inventories --. 

Investments, Government obligations 

Investments, other than Government ob- 
ligations 

Capital assets — Land, buildings, equipment 
(less depreciation and depletion) 

Other assets 



15,917 

39, 564 
12,372 
11,917 

75, 630 

108, 553 
16, 129 



15, 236 

35, 835 
13, 597 
13,571 

70, 474 

104, 958 
14, 535 



19, 961 

40, 529 
14,311 
19, 084 

90, 573 

102, 751 
14, 097 



23, 664 

38. 690 
14, 788 
21,863 

90, 163 

100, 480 
13, 501 



26, 102 

40,219 
16,584 
24,313 

86, 208 

97, 873 
11,882 



Total assets ■ 



280. 083 



268, 206 



301, 307 



303, 150 



303, 180 



Liabilities: 

Notes and accounts payable « (1926-36) 

Bonded debt and mortgages « (1926-36) ... 

Accounts payable (1937)-- 

Bonds, notes and mortgages payable (1937) : 

Maturity less than 1 year 

Maturity 1 year or more 

Other liabilities ' 

Capital stock, preferred 

Capital stock, common 

Surplus and undivided profit ' 

Less deficit » 



20, 562 

2* 47, 222 



19,362 
45, 883 



27, 021 
48, 604 



25, 332 
49, 822 



25, 580 
47, 023 



' 78, 730 
19,076 
78,413 
45, 664 
9,584 



75, 384 
18, 394 
74, 088 
44, 792 
9,696 



84, 096 
19, 976 
84, 970 
48, 986 
12,347 



89, 066 
19, 533 
82, 733 



97, 109 
18, 591 
78, 072 
48, 043 
11, 237 



Total liabilities *. 



280, 083 



268, 206 



301, 307 



303, 150 



Eeceipts, taxable income : 

Gross sales i° 

Gross receipts from operations " 

Interest 

Rent 

Net capital gain (sale of stocks, bonds, and 

other assets) 12 

Dividends from: 

Domestic corporations " (1936 and 1937).. 

Foreign corporations (1931-37) 

Other receipts.- 

Eeceipts. tax-exempt and taxable income: 

Dividends from domestic corporations " 

(1931-35) 

Interest on Government obligations: 

Subject to excess-profits tax » (1934-37)... 
Wholly tax-exempt i^. 



2« 52, 586 

2" 18, 640 

3,418 

1,813 

136 



56, 961 

17,991 

2,713 

1,556 

253 



72, 825 
17,913 
2,640 
1,498 

233 



83, 879 
19, 005 
2,504 
1,546 

452 



(30) 

1,356 



1,207 
'""545' 



(30) 

1,130 



962 



(30) 

1,207 



2,129 

(31) 

28 650 



(30) 

1,096 



(31) 

699 



303, 180 



96, 130 

21,245 

2,478 

1,410 

553 

2,573 

(30) 

1,168 



273 
440 



Total compiled receipts '«. 



79, 701 



82, 148 



2S 99, 095 



112,098 



126, 269 



Deductions: 

Cost of goods sold " 

Cost of operations '« (1932-37) 

Compensation of officers " 

Rent paid on business property 

Bad debts. 

Interest paid 

Taxes paid, other than income and excess- 
profits taxes 20 

Contributions or gifts 21 (1936 and 1937) 

Depreciation 

Depletion _. 

Net capital loss (sale of stocks, bonds, and 

other assets) 22 

Other deductions 23 



s 40, 842 

(32) 

2,064 

(32) 

1,285 
3,906 

2,012 



42, 981 
8.988 
1,928 
1,376 
1,213 
3,375 

2,044 



56, 213 
8,443 
2,102 
1,438 
1,151 
3,339 

2,108 



65, 062 
8,864 
2,267 
1,489 
92S 
3,160 

2,561 



3,624 
242 



1,538 
' 27, 698 



3,423 
243 



1,488 
15,727 



3,290 
303 



258 
17,412 



3,273 
338 



179 
18,477 



74, 364 

10, 083 

2,604 

1,451 

866 

2,931 

2,807 

29 

3,148 

403 

123 
19, 842 



Total compiled deductions. 

Compiled net profit or net loss 24. 
Net income or deficit 25 



83,211 



82, 787 



96, 058 



106, 599 



118,651 



"3,511 
33 5, 262 



33 639 
33 2, 183 



28 3,037 
258 



5,500 
1,883 



7,618 
7,178 



» Changes in the revenue acts afifecting the comparability of statistical data from income-tax returns of 
corporations arc summarized on pp. 221-227; textual discussion appears on pp. 3-4 and 32. "Compiled 
receipts," "Comiiiled deductions," "Compiled net profit or net loss," and "Net income or deficit" are not 
available for corporations submitting balance sheets for 1926-30. 

> Excludes returns for inactive corporations, except for 1926 and returns with fragmentary balance-sheet 
data. 

(Footnotes continued on p. 39.) 



STATISTICS OF INCOME 39 

PERSONAL HOLDING COMPANY RETURNS 

Personal holding company returns, Form 1120H, included in this 
report are for the calendar year 1937, for a fiscal year ended in the 
period July 1937 through June 1938 and for a part year of which the 
greater part of the accounting period falls in 1937. Returns for the 
calendar year 1937, for a fiscal year ended subsequent to December 31, 
1937, and part year returns for which the accounting period began in 
1937 are filed under the provisions of Title lA of the Revenue Act of 
1936 as amended by the Revenue Act of 1937. Returns for a fiscal 
year ended prior to December 31, 1937, and part year returns for 
which the accounting period began in 1936 are filed under the pro- 
visions of Title lA of the Revenue Act of 1936. 

The Revenue Act of 1936, as amended by the Revenue Act of 1937, 
imposes a surtax of 65 percent on the amount of "Undistributed 
adjusted net income" not in excess of $2,000 and 75 percent on the 
amount in excess of $2,000, in lieu of the graduated rates ranging 
from 8 percent on the "Undistributed adjusted net income" not in 
excess of $2,000 to 48 percent on the amount in excess of $1,000,000 
imposed by the Revenue Act of 1936. 

A personal holding company is defined by the Revenue Act of 1936, 
as amended by the Revenue Act of 1937, as anj'- corporation if — (A) 
At least 80 percent of its gross income for the taxable year is personal 
holding income (see following paragraph); and (B) At any time during 

(Footnotes continued from p. 38) 

3 Includes cash in till and deposits in bank. 

* For 1926-37 the two following adjustments in the amounts of "Total assets" and "Total liabilities" were 
made for items of assets and liabilities which were not correctly reported on the balance sheet: (1) A deficit 
in surplus shown in the asset section was transferred to the liability section and "Total assets" and "Total 
liabilities" were decreased by the amount of the deficit; and (2) reserves for depreciation and depletion shown 
in the liability section were used to reduce the corresponding asset accounts and "Total assets" and "Total 
liabilities" were reduced by the amount of such reserves. For 1927-37 reserves for bad debts shown in the 
liability section were used to reduce the corresponding assets accounts and "Total assets" and "Total 
liabilities" were reduced by the amount of such reserves. For 1930-37 a deficit reported in an asset account 
was transferred to its appropriate place in the liability section and "Total assets" and "Total liabilities" 
were increased by the amount of the deficit. 

i For 1929-30, consists of "Accounts payable" and "Notes payable (less than 1 year)." 

» For 1929-30, includes "Notes payable (1 year or more)." 

' For 1926-36, includes "Surplus reserves." 

8 For 1937, includes "Surplus reserves" which for 1926-36 was included]in "Other liabilities." For method 
of tabulating 1937 data see second paragraph, p. 23. 

» For method of tabulating 1937 data see .second paragraph, p. 23. 

11 For 1931, gross sales, less returns and allowances from trading and manufacturing. For 1932-37, gross 
sales, less returns and allowances, where inventorie> are an income-determining factor. For "Cost of goods 
sold" see "Deductions." 

>i See footnote 4, p. 36. is See footnote 12, p. 36, 

12 See footnote 6, p. 36. " See footnote 13, p. 36. 

13 See footnote 7, p. 36. 2" See footnote 14, p. 36. 
i< See footnote 8, p. 36. » See footnote 15, p. 36. 
" See footnote 9, p. 36. 22 See footnote 16, p. 36. 
16 See footnote 10, p. 36. 23 See footnote 17, p. 36. 
1' See footnote 11, p. 36. 24 gee footnote 18, p. 36. 

2' For 1931 and 1932, current year net income or deficit, i. e., before deduction of prior year loss ("Compiled 
net profit or net loss" less the sum of "Dividends from domestic corporations" and "interest on Government 
obligations"). For 1933-35, net income or deficit for income-tax computation ("Compiled net profit or net 
loss" less the sum of "Dividends from domestic corporations" and "Interest on Government obligations"). 
For 1936 and 1937, net income or deficit for excess-profits-tax computation ("Compiled net profit or net loss" 
less "Interest on Government obligations wholly tax-e.xempt"). 

26 Included in "Other assets." 

2' "Investments, other than Government obligations," of life-insurance companies are included in "Other 
assets." 

25 Revised. For revised figures for 1926, see Statistics of Income for 1928, p. 388; for revised figures for 1927, 
see Statistics of Income for 1931, p. 32; for revised figures for 1929, see Statistics of Income for 1930, p. 28; for 
revised figures for 1930, 1931, and 1932, see Statistics of Income for 1933, p. 37; and for revised figures for 1934, 
see Statistics of Income for 1935, Part 2, p. 26, footnote 16. 

29 "Gross receipts from operations" and "Cost of operations" are not available, the amount shown is the 
gross profit from operations. 

30 See footnote 21, p. 36. 32 See footnote 23, p. 36. 

31 See footnote 22, p. 36. 33 gee footnote 24, p. 36. 



40 STATISTICS OF INCOME 

the last half of the taxable year more than 50 percent in value of its 
outstanding stock is owned, directly or indirectly, by or for not more 
than five individuals. The term "personal holding company" does not 
include a corporation exempt from income taxation under section 101 ; 
a bank or trust company, a substantial part of the business of which 
is the receiving of deposits and making loans and discounts; a life 
insurance company; a surety company; or a foreign personal holding 
company, as defined in Supplement P, with a taxable year ended 
after August 26, 1937. According to the provisions of Supplement P, 
the undistributed Supplement P net income of a foreign personal 
holding company is included in gross income on the income tax returns 
of the citizens or residents of the United States, domestic corpora- 
tions, domestic partnerships, and estates or trusts who are share- 
holders in such a foreign personal holding company. An information 
return. Form 958, is required to be filed by each individual who is an 
officer or director of such a corporation. Data from returns, Form 
958, are not included in the following tables. However, a foreign cor- 
poration which is a personal holding company but is not within the 
definition of a foreign personal holding compan}'" is subject to the sur- 
tax imposed by Title lA and must file a return, Form 1120H, data 
from which are included in the following tables. For definition of, 
and law applicable to a foreign personal holding company see Supple- 
ment P of the Revenue Act of 1936, as amended by the Revenue 
Act of 1937. 

Under the provisions of the Revenue Act of 1936, as amended by 
the Revenue Act of 1937, personal holding company income consists 
of the following items (with certain exceptions): (a) Dividends, 
interest, royalties (other than mineral, oil, or gas royalties), and 
annuities; (b) Gains from stock and security transactions; (c) Gains 
from commodity transactions; (d) Income from estates and trusts; 
(e) Income from personal service contracts; (/) Amounts received as 
compensation for a shareholder's use of corporation property; (g) 
Rents, unless constituting 50 percent or more of the gross income, 
excluding amounts constituting personal holding company income 
under (J) above; and (h) Mineral, oil, or gas royalties. For further 
explanation of, and exceptions pertaining to certain of the above items, 
see instruction (A) for Form 1120H, page 248. 

The term "adjusted net income" as defined by the Revenue Act of 
1936, as amended by the Revenue Act of 1937, means net income, as 
computed under the provisions of Title I, with the following adjust- 
ments: (A) Additional deductions — (1) Federal income, war-profits, 
and excess-profits taxes paid or accrued during the taxable year to 
the extent not allowed in computing Title I net income, but not 
including surtax on corporations improperly accumulating surplus 
or surtax on personal holding companies; (2) in lieu of contributions 
or gifts deducted in computing Title I net income, contributions or 
gifts made within the taxable year in an amount not in excess of 15 
percent of Title I net income, computed without a deduction for con- 
tributions or gifts and without the deduction of the amount disallowed 
under following adjustment (B); and (3) amounts paid in liquidation 
of liability of corporations based on liability of decedent to make 
contributions or gifts; and (B) deductions not allowed — The aggre- 
gate of deductions (allowed in the computation of Title I net income) 
relating to expenses and depreciation which are allocable to the 
operation and maintenance of property owned or operated by the 



STATISTICS OF INCOME " 41 

corporation is allowed only in an amount equal to the rent or other 
compensation received for the use or right to use the property. For 
statement of these adjustments, see instruction (I) for Form 1120H, 
page 248. 

The term "undistributed adjusted net income" as defined by the 
Revenue Act of 1936, as amended by the Revenue Act of 1937, means 
the adjusted net income minus (a) the amount of dividends paid 
credit provided in section 27, computed without the benefit of the 
dividend carry-over, and (b) amounts used or irrevocably set aside 
to pay or to retire indebtedness of any