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STATISTICS OF INCOME
FOR 1941
PART 2
COMPILED FROM CORPORATION INCOME AND DECLARED VALUE
EXCESS-PROFITS TAX RETURNS, CORPORATION EXCESS PROFITS
TAX RETURNS, AND PERSONAL HOLDING COMPANY RETURNS
ST
f
UNITED STATES TREASURY DEPARTMENT
BUREAU OF ^TERNAL REVENUE - WASHINGTON. D. C.
U. S. TREASURY DEPARTMENT
BUREAU OF INTERNAL REVENUE
STATISTICS OF INCOME
FOR 1941
PART 2
COMPILED FROM CORPORATION INCOME AND
DECLARED VALUE EXCESS-PROFITS TAX
RETURNS, CORPORATION 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 : 1945
For sale by the Superintendent of Documents, U. S. Government Printing Office
Washington 25, D.C. Price 45 cents
H: St SyPlf(iNTENCtNT OF DOCUmNTS
MAR 22 1945
LETTER OF TRANSMITTAL
Treasury Department,
Office of Commissioner of Internal Revenue,
Washington, D. C, January 2Jf., 1945.
Sir: In accordance with the provisions of section 63 of the Internal
Revenue Code, requiring the pubhcation annually of statistics with
respect to the operation of the Federal income, war-profits, and excess
profits tax laws, I have the honor to transmit herewith a report en-
titled "Statistics of Income for 1941, Part 2," presenting data relative
to income, deductions, assets, liabilities, exemptions, credits, tax
liability, and dividends paid, as reported on corporation income and
declared value excess-profits tax returns, corporation excess profits
tax returns, and personal holding company returns for 1941 filed
during 1942. There is also included a historical presentation of the
income and of the tax liability reported by corporations for the years
1909 through 1941, and a synopsis of corporation income and profits
tax credits, rates, and other provisions of the Federal tax laws affecting,
the comparability of historical data in this report.
Respectfully,
Joseph D. Nunan, Jr.,
Commissioner of Internal Revenue.
Hon. Henry Morgenthau, Jr.,
Secretary oj the Treasury.
II
CONTENTS
Introduction 1
CORPORATION INCOME AND DECLARED VALUE EXCESS-PROFITS TAX
RETURNS (FORMS 1120 AND 1120L)
Summary data 1-2
Comparison with 1940 2
Returns included 2
Changes in law affecting corporation returns (Form 11 20) 2-3
Classifications, text tables, and description of basic tables 3-18
Active and inactive corporations _ 3-4
Returns with net income and returns with no net income 4.-
States and Territories 4-5'
Industrial divisions and groups 5-8'
Returns with balance sheets and returns with no balance sheets 8-10
Total assets classes 10-12
Type of tax liability 12
Net income and deficit classes 12-13
Consolidated returns 1 4—16
Fiscal year returns 16-17
Part year returns 18
Data tabulated IS-IQ*
Income and profits taxes paid to foreign countries or possessions of the
United States 19-2(J
Tax liability and collections, factors affecting comparability 20
CORPORATION EXCESS PROFITS TAX RETURNS (FORM 1121)
Summary data 23
Returns included 23-24
Changes in law affecting excess profits tax returns (Form 1121) 24-25
Distribution of taxable returns and tax 25
Comparison of taxable and nontaxable returns 25'
Method of credit computation 26
Data from income tax returns showing excess profits tax deduction 26-2S
Excess profits credit carry-over 28-29^
Consolidated returns 29
Returns filed under 1940 law 29-30
PERSONAL HOLDING COMPANY RETURNS (FORM 1120H)
Summary data 32
General explanations 32-35
Tables 35-36
HISTORICAL DATA— CORPORATION INCOME AND PROFITS TAX RETURNS
Description of tables 37-3S-
Comparability of historical data 38-40
Returns included 38-
Contents of items 38-39
Geographic distribution 39
Industrial classification 39-40-
Source Book of Statistics of Income 40-4L
in
IV CONTENTS
BASIC TABLES
CORPORATION INCOME AND DECLARED VALUE EXCESS-PROFITS
TAX RETURNS
All returns: Pag«
1. States and Territories, general summary 44-45
2. Major and minor industrial groups, general summary 46-59
3. Major industrial groups (Receipts and deductions) 60-101
Returns with balance sheets:
4. Major industrial groups (Assets and liabilities, receipts and deduc-
tions) 102-135
5. Total assets classes (Assets and liabilities, receipts and deductions) 136-141
6. Total assets classes and major industrial groups (Selected assets,
liabilities, and receipts) 142-227
All i-eturns:
7. Net income and deficit classes and type of tax liability 228-231
8. Net income and deficit cljisses (Dividends received and interest
received on Government obligations) 232
9. Net income and deficit classes (Dividends paid) 233
CORPORATION EXCESS PROFITS TAX RETURNS
All returns:
10. Adjusted excess profits net income and deficit classes, and
method of credit computation 238-239
1 1 . Normal-tax net income classes and method of credit computation. 240-243
Consolidated returns:
12. Adjusted excess profits net income and deficit classes, and
method of credit computation 244-245
13. Normal-tax net income classes and method of credit computa-
tion 246-247
Returns with effective excess profits credit carry-over:
14. Adjusted excess profits net income and deficit classes, and method
of credit computation 248-249
Stipplemental data from income tax returns of corporations reporting
excess profits tax liability:
15. ^Tajor industrial groups (Assets and liabilities, receipts and
deductions) . 250-263
16. Total assets classeg (Assets and liabilities, receipts and deduc-
tions) 264-265
HISTORICAL DATA — CORPORATION INCOME AND PROFITS TAX RETURNS
17. General summarv, 1909-1941 270
18. Net income and deficit classes, 1938-1941 271
19. Ecceipts and deductions, 1926-1941 272-273
• 20. A.'^sets and liabilities. 1926-1941 274-275
21. Industrial groups, 1932-1941 276-281
22. States and Territories, 1932-1941 282-292
23. Consolidated returns, 1928-1941 293
INDUSTRIAL GROUPS IN WHICH CHANGES OCCUR BETWEEN 1941 AND 1940
Major industrial groups 300
Minor industrial groups 301-303
SYNOPSIS OF FEDERAL TAX LAWS AFFECTING THE COMPARABILITY OF
HISTORICAL DATA IN STATISTICS OF INCOME
A. Corporation income and profits tax credits, rates, and other provi-
sions of the Federal tax laws for the income years 1909 through 1941. 306-316
B. Consolidated income and profits tax returns — provisions for filing
and tax rates under the Federal tax laws for the income years 1917
through 1941. .' 317-321
RETURN FORMS
Facsimiles of Forms 1120, 1120L, 1121, and 1120II for 1941 323-352
Index ^ _ _ - - 353-371
STATISTICS OF INCOME FOR 1941— PART 2
CORPORATION INCOME AND DECLARED VALUE EXCESS-PROFITS TAX
RETURNS, CORPORATION EXCESS PROFITS TAX RETURNS, AND
PERSONAL HOLDING COMPANY RETURNS
INTRODUCTION
This report, presenting data for 1941 tabulated from corporation
income and declared value excess-profits tax returns, Form 1120;
insurance company income returns, Form 1120L; corporation excess
profits tax returns, Form 1121; and personal holding company returns.
Form 1120H, is prepared in accordance with section 63 of the Internal
Revenue Code, which provides for the publication annually of sta-
tistics with respect to the operation of the income, war-profits, and
excess profits tax laws.
The amounts reported as income, deductions, assets, liabilities^
exemptions, credits, Federal tax liability, and dividends paid are
shown in aggregate and for various classifications of corporations and
of income. Facsimiles of the return forms from which the data are
tabulated and to which references are made throughout this volume
are also shown.
Historical data pertaining to income and profits tax returns for
1909 through 1941 are presented, with a resume of the information
available for 1926-40 in the Source Book, a volume of data supple-
mentary to the published reports, Statistics of Income. There is also
a synopsis of corporation income and profits tax credits, rates, and
other provisions of the Federal tax laws affecting the comparability
of historical data in this report.
Certain of the more significant data for 1941 contained herein were
made public previously in a preliminary report issued as of August 31,
1943, and in a series of press releases dated August 5, 1943, February
25 and 28, 1944, and March 1 and 3, 1944.
CORPORATION INCOME AND DECLARED VALUE EXCESS-PROFITS
TAX RETURNS (FORMS 1120 AND 1120L)
SUMMARY DATA
The niunber of corporation income and declared value excess-
profits tax returns for 1941 is 509,066, of which 264,628 show net
income of $18,111,094,621, while 204,278 show deficit of $1,778,552,590
and 40,160 have no income data (inactive corporations). The normal
tax is $2,947,568,227, the surtax is $796,999,658, the declared value
excess-profits tax is $64,148,618, and the excess profits tax is $3,359,-
185,514. Thus, the total tax is $7,167,902,017, an increase of 181
percent over the total tax liability for the prec3.3iTig year.
1
2 STATISTICS OF INCOME FOR 1941, PART 2
The increase or decrease, 1941 over 1940, in the number of returns,
net income, deficit, and tax follows:
Corporation returns, 1941 and 1940: Number of returns, net income, deficit, and tax
[Money figures in thousands of dollars]
1941
1940
Increase or
decrease (— )
Number or
amount
Percent
Total number of returns
509,066
516, 783
-7,717
— 1
Returns with net income:'
Number of returns .. . . . . .
264, 628
18,111,095
3, 744, 568
64, 149
3, 359, 186
220, 977
11,203,224
2, 144, 292
30, 744
373.511
43, 651
6, 907, 871
1, 600, 276
33, 405
2, 985, 675
20
Net income ' ...
62
Tax liability:
Income tax ^^
75
Declared value excess-profits tax '
109
Excess profits tax ♦
799
Total-
7,167,902
2. 548, 546
4, 619, 356
181
Returns with no net income:'
Number of returns ..
204, 278
1, 778, 553
252, 065
2, 283, 795
-47, 787
-505, 243
-19
Deficit' ---
—22
Number of returns of inactive corporations
40, 160
43, 741
-3,581
—8
For footnotes, see pp. 21-22.
RETURNS INCLUDED
The data presented in this section are from returns for the calendar
year ending December 31, 1941, a fiscal year ending within the period
July 1941 through June 1942, and a part year with the greater portion
of the accounting period in 1941.
Data are tabulated from (1) corporation income and declared value
excess-profits tax returns, Form 1120, filed by domestic corporations
and resident foreign corporations other than those which are exempt
from tax under section 101, Internal Revenue Code as amended, and
(2) insurance company income tax returns. Form 1120L, filed by
domestic life insurance companies and by foreign life insurance com-
panies carrying on insurance business within the United States or
holding reserve funds upon business transacted within the United
States. The statistics are compiled from the returns as filed, prior to
revisions that may be made as a result of audit by the Bureau of
Internal Revenue.
There are excluded from this report data pertaining to amended
returns, tentative returns, and the returns of nonresident foreign
corporations (those not engaged in trade or business within the United
States and not having an office or place of business therein, who file
on Form 1120NB).
CHANGES IN LAW AFFECTING CORPORATION RETURNS (FORM 1120)
The comparability of the figures tabulated from the 1941 returns
and those from the 1940 returns is affected by certain changes in
law introduced by the Revenue Act of 1941. The changes of particu-
lar importance in tliis respect are described below:
(1) Provision is made for the deduction of the excess profits tax for
the taxable year in computing normal-tax net iiicome and surtax net
STATISTICS OF INCOME FOR 1941, PART 2 3
income, whereas for 1940 the income tax was allowed as a deduction in
computing excess profits net income.
(2) A surtax equal to 6 percent of surtax net income not in excess
of $25,000 plus 7 percent of the amount in excess of $25,000 is imposed
on all corporations, except nonresident foreign corporations. Surtax
net income, in general, equals normal-tax net income plus interest on
partially tax-exempt securities.
(3) The normal-tax rates provided by the Revenue Act of 1941,
which are, in general, an integration of the immediately prior income
tax rates and defense tax rates, apply to taxable years beginning after
December 31, 1940. The rates thus provided are as follows:
Size of normal-tax net income Rate
Not in excess of $5,000 15%.
Over $5,000, not over $20,000 $750 plus 17% of excess over $5,000.
Over $20,000, not over $25,000 $3,300 plus 19% of excess over $20,000.
Over $25,000, not over $38,461.54 $4,250 plus 37% of excess over $25,000.
$38,461.54 or more 24%.
Foreign corporations engaged in business within the United States
are subject to a flat 24 percent tax, computed on normal-tax net income.
Mutual investment companies are also subject to a flat 24 percent tax,
based, however, on the adjusted net income (computed without net
operating loss deduction) less the basic surtax credit.
The 1941 Act also integrates the defense tax rates with the declared
value excess-profits tax rates, effective with respect to taxable years
ending after June 30, 1941.
The rates of tax for prior years are shown in the synopsis of Federal
tax laws for the income years 1909-41, pages 306-321.
CLASSIFICATIONS, TEXT TABLES, AND DESCRIPTION OF BASIC TABLES
Data are shown for the 509,066 corporation returns in aggregate,
and segregated by one or more of the following classifications: Active
and inactive corporations; returns with net income and returns with
no net income; States and Territories; industrial divisions and groups;
returns with balance sheets and returns with no balance sheets;
total assets classes; type of tax liability; net income and deficit
classes. There are also separate tabulations for consolidated returns,
fiscal year returns, and part year returns, all of which ure included
in the tabulations pertaining to Form 1120 throughout this report.
The classifications are described in the following paragraphs, which
also enumerate the items tabulated for returns in each classification:
Active and inactive corporations. — Returns for active corporations
show income data; those for inactive corporations show no data. The
returns for inactive corporations are filed in accordance with the
regulation that a corporation having an existence during any portion
of a taxable year is required to make a return. Even though a cor-
poration has surrendered its charter, it is deemed to continue in
existence until its dissolution is authorized by the State in which
it was created.
4 STATISTICS OF INCOME FOR 1941, PART 2
The data presented in this report are tabulated from the 468,906
returns of active corporations, except as indicated in the following
paragraph pertaining to the number of returns.
The 40,160 returns of inactive corporations for 1941 are segregated
by the nine industrial divisions in the text table on page 6, which
shows also the percent of inactive corporations to the total. The
returns of inactive corporations are also included in the total number
of returns, segregated by States and Territories, in basic table 1,
pages 44-45; in the total number, by major and minor industrial
groups in basic table 2, pages 46-59 ; and in the total number of returns
with no net income in basic table 7, pages 228-231. The total num-
ber of fiscal year returns in the first text table on page 17 includes
3,976 fiscal year returns of inactive corporations.
For the number of returns of inactive corporations for prior years,
see note 2, page 293.
Returns with net income and returns with no net income. — This
classification is based on the existence or nonexistence of an amount
of net income for the current year. Net income, as reported for
declared value excess-profits tax' computation, is adjusted by excluding
the net operating loss deduction. Returns with total deductions
(exclusive of net operating loss deduction) equal to or exceeding-
total income are included in returns with no net income.
The returns of active corporations for 1941 are segregated by
returns with net income and returns with no net income for all tabu-
lations in this report except those on pages 8 and 272-275. Of the
468,906 returns of active corporations, 264,628 are returns with net
income, and 204,278 are returns v^^itli no net income.
States and Territories. — This geographic distribution covers the 48
States, the District of Columbia, and the Territories of Alaska and
Hawaii.
The data, although tabulated by States and Territories in which
the returns are filed, do not represent what may be called the geo-
graphic distribution of income. Returns filed in a State maj' not be
a complete coverage of all corporations whose principal place ot
business is located therein. Conversely, a tabulation for a given
State may include data from returns of corporations having their
principal place of business in another State. A corporation may
file an income tax return either in the collection district in which
it has its principal place of business or in the collection district in
which it has its principal office or agency. There is no way of ascer-
taining from income tax returns the amount of income originating
in a specific State or the amount of tax paid thereon.
The 509,066 returns of active and inactive corporations are segregated
geographically in basic table 1, pages 44-45. This table presents, for
the 264,628 returns with net income and the 204,278 returns with no
net income, total compiled receipts, net income or deficit, and divi-
dends paid in cash and assets other than the corporation's own stock.
STATISTICS OF INCOME FOR 1941, PART 2 5
There are also shown, for returns with net income, total tax, normal
tax, surtax, declared value excess-profits tax, and excess profits tax.
The number of returns of inactive corporations filed in any State or
Territory may be obtained by deducting the sum of the returns with
net income and the returns with no net income from the total number
of returns.
A description of the items will be found m the footnotes as indicated
on table 1. The comparability of data distributed geographically
is discussed on page 39, and historical data so distributed are pre-
sented on pages 282-292.
Industrial divisions and groups. — The industrial classification
consists of 9 divisions, 74 major groups, and 228 minor groups, based
on the Standard Industrial Classification, issued by the Division of
Statistical Standards, Bureau of the Budget, Executive Office of the
President. Since the Standard Industrial Classification is designed
on an establishment basis, it was necessary to reduce greatly the
number of groups and to make changes in the contents of the groups
in order to adapt the Standard Classification to the corporation
income tax returns which are filed on an ownership basis.
The industrial classification is based on the business activity
reported on the return. When multiple businesses are reported on a
return, the classification is determined by the busmess activity which
accounts for the largest percentage of total receipts. Therefore, the
industrial groups do not reflect pure mdustry classifications.
The principal changes in the industrial classification for 1941 as
compared with 1940 are those in the textile manufacturing groups.
"Cotton manufactures," shown as a separate major group for 1941,
was previously shown as aminor group within the majorgroup "Textile-
mill products." The mmor group "Rayon and silk manufactures"
is a combination of the two minor groups shown for 1940 as "Silk
manufactures" and "Rayon and other synthetic textile-mill manufac-
tures." Other changes in the contents of the industrial groups for
1941, involving the transfer of certain industrial activities from one
group to another, are shown in the charts on pages 299-303.
In the following table, the 509,066 returns are classified by the nine
industrial divisions, as are also the 264,628 returns with net income,
the 204,278 returns with no net income, and the 40,160 returns of
inactive corporations. The number of returns is shown for each
division. For returns with net income, there are shown the number
of returns, percent of division total, total compiled receipts, net
income, total tax, normal tax, surtax, declared value excess-profits
tax, and excess profits tax; for returns with no net income, the number,
percent of division total, total compiled receipts, and deficit; and for
inactive corporations, the number and percent of division total.
The items are described in footnotes as indicated on the table.
STATISTICS OF INCOME FOR 1941, pART 2
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STATISTICS OF INCOME FOR 1941, PART 2 7
The 468,906 returns of active corporations are further segregated
by major industrial groups in basic table 3, which shows, in Part I
for all returns, in Part II for returns with net income, and in Part III
for returns with no net income, itemized receipts and deductions,
compiled net profit or net loss, net income or deficit, dividends paid in
cash and assets other than the corporation's own stock, and dividends
paid in corporation's own stock. There are also shown, for returns
in Parts I and II, the net operating loss deduction, normal tax, surtax,
declared value excess-profits tax, excess profits tax, total tax, and
compiled net profit less total tax.
Basic table 4 presents returns with balance sheets by major indus-
trial groups and shows for the 246,195 returns with net income and
the 160,858 returns with no net income the number of returns, items
of assets and liabilities as of December 31, 1941, or close of fiscal year
nearest thereto, itemized receipts and deductions, compiled net profit
or net loss, net income or deficit, dividends paid in cash and assets
other than the corporation's own stock, and dividends paid in the
corporation's own stock. There are also shown, for returns with
net income, the net operating loss deduction, normal tax, surtax^
declared value excess-profits tax, excess profits tax, total tax, and
compiled net profit less total tax. In analyzing the data compiled
from returns classified under the major group "Insurance carriers,
agents, etc.," it should be noted that life insurance companies are
required to include only interest, dividends, and rents in gross income.
For 1941, as in prior tax years, such companies are allowed to report
as deductions the earnings needed to maintain reserve funds required
by law and reserve for dividends. (See sections 202-203, Internal
Revenue Code.) For returns of all active corporations, in basic
table 3, these deductions are $47,234,125 for returns with net income
and $965,969,542 for returns with no net mcome; in basic table 4, for
returns with balance sheets, these deductions are $46,633,901 for
returns with net income and $961,912,040 for returns with no net in-
come. It should be noted also that the deduction item "compensa-
tion of officers," in basic tables 3 and 4, excludes the amounts paid to
officers of life insurance companies which file on Form 1120L. There
is no provision on Form 1120L for reporting this item, and it is not
possible to ascertain it from the annual statement submitted with the
return.
Basic table 6 presents returns with balance sheets, by total assets
classes, in aggregate, and by major industrial groups, and shows for
the 246,195 returns with net income and the 160,858 returns with no
net income the number of returns, selected items of assets, liabilities,
and receipts, compiled net profit or net loss, net income or deficit,
and dividends paid in cash and assets other than corporation's own
stock. For returns with net income, the total tax is also shown.
The only table showing the returns segregated by minor industrial
groups is basic table 2, which presents all returns by both major and
minor industrial groups, and shows, for the 264,628 returns with net
income and the 204,278 returns of active corporations with no net
income, the number of returns, total compiled receipts, net income or
deficit, and dividends paid in cash and assets other than the corpora-
tion's own stock. There are also shown, for returns with net i^ncome,
normal tax, surtax, declared value excess-profits tax, and excess
profits tax. The total number of returns includes those of inactive
8
STATISTICS OF INCOME FOR 1941, PART 2
corporations, which number may be obtained by deducting from the
total number of returns the sum of the returns with net income and
the returns with no net income.
The items are described in footnotes as indicated on each table.
Historical data by industrial groups are shown on pages 276-281, and
the comparability of those data is discussed on pages 39-40.
Returns with balance sheets and returns with no balance sheets. — Re-
turns with balance sheets include only those with apparently complete
balance sheet data; returns with no balance sheets include those on
which the balance sheet data are entirely lacking and those with
fragmentary data.
In the following table there are shown, for the 468,906 returns of
active corporations in aggregate, and for the 407,053 returns with
balance sheets, and the 61,853 returns with no balance sheets, items
of receipts and deductions, compiled net profit or net loss, net income
or deficit, net operating loss deduction, normal tax, surtax, declared
value excess-profits tax, excess profits tax, total tax, compiled net
profit less total tax, dividends paid in cash and assets other than the
corporation's own stock, and dividends paid in the corporation's
own stock.
The items are described in footnotes as indicated on the table.
Corporation returns, 1941, in aggregate, and for returns with balance sheets and re-
turns with no balance sheets: Number of returns, compiled receipts, compiled
deductions, compiled net profit or net loss, net income or deficit, net operating loss
deduction, normal tax, surtax, declared value excess-profits tax, excess profits tax,
total tax, compiled net profit less total tax, and dividends paid by type of dividend
[Money figures in thousands of dollars]
31
Aggregate
Number of returns »
Receipts:
Gross sales '"
Gross receipts from operations "...
Interest on Government obligations:
M^holly taxable '2
Subject to declared value excess-profits tax and
surtax. '3
Subject to surtax only '<
Wholly tax-exempt '*
Other interest
Rents and royalties "
Net capit al gain "
Net gain, sales other than capital assets '^
Dividends, domestic corporations '»
Dividends, foreign corporations 20
0 ther receipts 21 _
Total compiled receipts
Deductions:
Cost of goods sold --
Cost of ojierations 22
Compensation of ofTicers 23
Itent paid on business property
Repairs 2*
Bad debts
1 n ti'rest I laid
'I'axes paid 2s_
Contributions or gifts '«
Depreciation
Depletion .. _
A mort izat ion 27
Net long-term capital loss "
Net lo.ss, sales other than capital assets "
O ther ded uct ions 29
Total compiled deductions.
For footnotes, see pp. 21-22.
468, 906
151, 325, 357
29, 379, 468
38, 340
467, 221
63. 110
279, 069
2, 564, 861
2, 158, 507
162, 684
184, 380
2, 234, 965
182,831
1, 391, 224
190, 432, 017
113,317,092
15, 140, 749
3,471,811
2, 081, 953
1, 597, 898
735, 5S3
2,624,315
5, 024, 657
58, 498
3, 765, 339
543, 748
113,810
1, 005, 889
296, 710
23, 979, 245
173, 757, 295
Returns with
balance
sheets
407. 053
Returns
with no
balance
sheets
61, 853
148, 274, 895
28, 442, 327
37. 860
460, 491
62, 481
275, 543
2, 522, 629
2, 045, 2.56
150,010
165, 174
2, 168, 266
181,718
1, 350, 532
186, 137, 183
110,978,
14, 759,
3. 364,
2, 019,
1, ,560,
702,
2, ,554,
4, 920,
57,
3, 664,
502,
112,
935,
219,
23, 193,
3, 050, 402
937, 141
480
6,730
629
3,526
42, 232
113, 250
12, 674
19, 206
06, 699
1,113
40, 692
4. 294, 834
2, 338,
381,
107,
62,
37,
32,
69,
104,
101,
40,
1,
70,
77,
786,
169,545,552 I 4,211,743 31
STATISTICS OF INCOME FOR 1941, PART 2
^
Cor-poTalion returns. 1941, in aggregate, and for returns with balance sheets and re-
turns with no balance sheets: Number of returns, compiled receipts, compiled
deductions, compiled net profit or net loss, net income or deficit, net operating loss
deduction, normal tax, surtax, declared value excess-profits tax, excess profits tax,
total tax, compiled net profit less total tax, and dividends paid by type of dividend —
Continued
[Money figures in thousands of dollars]
Compiled net profit or net loss (— ) (15 less 31)
Net income or deficit (-) ' [32 less (6+7)]
Net operating loss deduction 29
Normal tax '
Surtax '
Declared value excess-profits tax ^
Excess profits tax *
Total tax.--
Compiled net profit less total tax (32 less 39).-
Dividends paid:
Cash and assets other than own stock
Corporation's own stock
Aggregate
16, 674, 722
16, 332, 542
330, 030
2, 947. 568
797, 000
64, 149
3, 359, 186
7, 167, 902
9, 506, 819
6, 700, 787
178, 940
Returns with
balance
sheets
16, 591, 631
16, 253, 606
321, 706
2, 895, 600
782, 521
62, 769
3, 322, 793
7, 063, 683
9, 527, 948
6, 556, 439
165, 722
Returns
with no
balance
sheets
83, 091
78, 936
8,324
51, 968
14, 479
1,380
36, 393
104, 219
144, 348
13, 218
For footnotes, see pp. 21-22.
The preceding tabulation is one of three in this report in which the
data are not shown separately for returns with net income and for
returns with no net income. However, this separation is made in the
presentation ot receipts and deductions for the 407,053 returns of
corporations reporting balance sheet data, by major industrial groups
in basic table 4, pages 102-135, and by total assets classes in basic
table 5, pages 136-141.
The total number of returns, and the num^ber and percent with
balance sheets, for returns with net income and with no net income,
are shown by net income and deficit classes in the following table:
Corporation returns, 1941, with net income and vjiih no net income, by net income or
deficit classes: Number of returns, number of balance sheets, and percent of returns
with balance sheets
Returns with net
income '
Returns with no net income '
Net income and deficit classes '
(Thousands of dollars)
Number
of returns »
Number
of balance
sheets
Percent of
returns
with bal-
ance sheets
Number
of returns '
Number
of balance
sheets
Percent of
returns
with bal-
ance sheets
Under 1
79, 203
30, 556
19,711
14,472
12, 927
31, 766
15, 777
9,776
7,297
16, 166
10, 445
8,581
3,564
2,061
1,853
246
227
68,329
28, 239
18,485
13, 820
12, 388
30, 668
15, 384
9,548
7,109
15, 798
10, 222
8,392
3,499
2,026
1,828
238
222
86.27
92.42
93.78
95.49
95.83
96.54
97.51
97.67
97.42
97.72
97.87
97.80
98.18
98.30
98.65
96.75
97.80
124,929
2.5. 451
12, 678
7,655
5,263
12, 309
4,792
2,622
1,568
3,375
1,784
1,122
367
187
146
14
16
94, 588
20, 795
10, 567
6,453
4,458
10, 500
4,105
2,228
1,315
2,843
1,435
913
291
156
122
13
16
75.71
1 under 2
81.71
2 under3 ... . .
83.35
3 under 4
84.30
4 under 5
84.70
5 under 10 . .
85.79
10 under 15
85.66
15 under 20
84.97
20 under 25 .
83.86
25 under 50 ...
84.24
sounder 100
80.44
100 und'^r 250 .
81.37
250 under 500
79.29
500 under 1,000
83. 42
1,000 under 5,000 . . .
83.66
5,000 under 10,000
92.86
10,000 and over
100.00
Total
264, 628
246, 195
93.03
204, 278
160, 858
78.74
For footnotes, see pp. 21-22.
10
STATISTICS OF INCOME FOR 1941, PART 2
For the 407,053 returns with balance sheets, in aggregate, and for
the 246,195 returns with net income and the 160,858 returns with no
net income, there are presented in the following table the items of
assets and liabilities as of December 31, 1941, or the close of the fiscal
year nearest thereto.
The items are described in footnotes as indicated on the table.
Corporation returns with balance sheets, 1941, in aggregate, and for returns with net
income and returns with no net income: Number of returns, assets and liabilities
[Money figures in thousands of dollars]
Aggregate
Returns with
net income '
Returns
with no net
income '
Number of returns with balance sheets "
Assets:
Cash"
Notes and accounts receivable (less reserve)
In ven tories
Investments, Government obligations '3
O th er in vestments
Gross capital assets " (except land)
Less reserves
Land -
Other assets «
Total assets 'o.
Liabilities:
Accounts payable
Bonds, notes, mortgages payable:
Maturity less than 1 year
Maturity 1 year or more
Other liabilities 3'
Capital stock, preferred
Capital stock, common
Surplus reserves
Surplus and undivided profits 3'
Less deficit s'
Total liabilities 38..
407, 053
246, 195
160, 858
41,628,921
49, 254, 636
25, 057, 672
36, 547, 632
80, 353, 836
133, 500, 140
42, 412, 084
9, 610, 030
6, 911, 468
36, 164, 542
43, 474, 932
23, 829, 287
24, 397, 544
48, 907, 474
112,697,040
36, 905, 846
6, 210, 102
4, 746, 550
5, 464, 379
5, 779, 704
1, 228, 385
12, 150, 088
31, 446, 362
20, 803, 099
5, 506, 238
3, 399, 928
2, 164, 918
340, 452, 250
263, 521, 625
76, 930, 625
16, 350, 151
241, 967
542, 320
727, 713
214, 267
576, 583
064, 808
592, 608
858, 166
13, 579, 639
7, 417, 482
35, 984, 076
78, 865, 771
13, 514, 707
60, 485, 440
8, 560, 275
48, 721, 843
3, 607, 608
2, 770, 511
1, 824, 485
13, 558, 244
43, 861, 942
2, 699, 560
11, 091, 143
1, 504, 533
7, 870, 764
8, 250, 558
340, 452, 250
263, 521, 625
76, 930, 625
For footnotes, see pp. 21-22.
The returns with balance sheets are further classified by major
industrial groups in basic table 4, pages 102-135, which shows, in
addition to items of assets and liabilities, the number of returns,
compiled receipts, compiled deductions, compiled net profit or net-
loss, net income or deficit, net operating loss deduction, normal tax,
surtax, declared value excess-profits tax, excess profits tax, total tax,
compiled net profit less total tax, dividends paid in cash and assets
other than the corporation's own stock, and dividends paid in the
corporation's own stock, for returns with net income and for returns
with no net income, where applicable.
The items are described in footnotes as indicated on each table.
Total assets classes. — The returns with balance sheets are segregated
into 10 classes by size of total assets as of December 31, 1941, or close
of fiscal year nearest thereto. The total assets classes are based on
the net amount of total assets, after reserves for depreciation, deple-
tion, amortization, and bad debts.
Tlie 407,053 returns with balance sheets are presented bj'- total
assets classes in the following table, which shows, in aggregate, and
for the 246,195 returns with net income and the 160,858 returns with
STATISTICS OF INCOME FOR 1941, PART 2
11
no net income, the total assets, total compiled receipts, compiled net
profit or net loss, and net income or deficit.
The items are described in footnotes as indicated on the table.
Corporation returns with balance sheets, 1941, by total assets classes, in aggregate,
and for returns with net income and returns with 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
returns "
Total assets-
total liabil-
ities 3«
Total com-
piled receipts'
Compiled net
profit or net
loss (— )
Net income
or deficit
Aggregate
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
Under 50..
50imder 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
213, 086
61, 525
60, 386
28. 751
18, 424
18, 832
2,812
2,411
400
426
407, 053
4,013,174
4, 384. 697
9, 546, 741
10, 122, 198
12, 914, 713
39,213,716
19. 571, 343
49, 185, 866
27, 878, 869
163, 620, 932
340, 452, 250
009, 945
211,078
070, 884
052, 640
538, 135
306, 903
605, 379
131,611
683, 353
527, 253
186, 137, 183
43, 587
200, 182
560, 955
690, 838
891, 571
2, 654, 894
1, 368, 609
3, 070, 831
1, 576, 543
5, 533, 622
16, 591, 631
43, 253
199, 785
559, 315
686, 140
880,368
2, 610, 907
1, 347, 669
3, 022, 336
1, 550, 048
5, 353, 785
16, 253, 606
Returns with net income •
105, 053
41,412
43, 884
22, 042
14, 278
14, 655
2,251
1,936
335
349
246, 195
2, 297, 019
2. 964, 672
6, 978. 330
7, 770, 883
10.018.713
30, 480, 805
15, 696, 795
39, 794, 529
23, 349, 049
124, 170, 830
263, 521, 625
6, 728, 652
6, 926, 086
13. 484. 229
12, 098, 560
12, 695, 424
29, 550. 231
12, 062, 030
28, 004, 398
11, 037, 461
39, 460, 569
172, 047, 639
232, 571
277, 806
682,640
776, 513
998, 850
902, 085
467, 816
339, 894
684, 202
637, 051
17, 999, 428
232, 331
277, 502
681, 380
772, 921
990, 980
2, 871, 890
1, 453, 733
3, 309, 755
1, 667, 047
5, 539, 260
17, 796, 797
Returns with no net income '
108, 033
20, 113
16, 502
6,709
4, 146
4,177
561
475
65
77
160, 858
76, 930, 625
3, 281, 293
1, 284, 992
1, 586, 655
954,081
842,711
1, 756, 672
543, 349
1, 127, 213
645, 892
2, 066, 684
14, 089, 544
-188,984
-77, 625
-121,685
-85, 675
-107,279
-247, 191
-99, 207
-269, 063
-107,659
-103,429
-1,407,797
-189,078
-77, 717
-122,065
-86, 781
-110,611
-260, 983
-106,064
-287,419
-116, 9f 9
-185,475
-1,543,191
For footnotes, see pp. 21-22.
The returns with balance sheets are segregated by total assets
classes in basic table 5, pages 136-141, which shows, in Part I for all
returns, in Part II for returns with net income, and in Part III for
returns with no net income, the number of returns, assets and liabil-
ities, compiled receipts, compiled deductions, compiled net profit or
net loss, net income or deficit, dividends paid in cash and assets other
12 STATISTICS OF INCOME FOR 1941, PART 2
than the corporation's own stock, and in th^ corporation's own stock;
also for returns in Parts I and II there are shown the net operating
loss deduction, normal tax, surtax, declared value excess-profits tax,
excess profits tax, total tax, and compiled net profit less total tax.
Basic table 6 shows, for returns with balance sheets, by total assets
classes, in aggregate, and by major industrial groups, for returns with
net income and for returns with no net income where applicable, the
number of returns, selected assets and liabilities, selected receipts,
compiled net profit or net loss, net income or deficit, total tax, and
dividends paid, excluding dividends paid in the corporation's own
stock and liquidating dividends.
The items are described in footnotes as indicated on each table.
Tyjpe of tax liability. — The taxable returns are classified according to
the various combinations of income and excess profits taxes for which a
liability exists. Returns for the calendar year 1941 and fiscal years
ending in the period January through June 1942, which are filed under
the provisions of the Internal Revenue Code applicable to 1941, are
segregated according to whether the corporation reports (1) normal tax
and surtax (or surtax only), (2) normal tax, surtax, and declared value
excess-profits tax, (3) normal tax, surtax, declared value excess-profits
tax, and excess profits tax, (4) normal tax, surtax, and excess profits
tax, or (5) excess profits tax only. The taxable returns for fiscal years
ending in the period July through November 1941, which are filed
under the provisions of the Internal Revenue Code applicable to 1940,
do not show whether an excess profits tax liability exists and are
segregated according to whether the corporation reports (1) only
incom.e tax or (2) both income tax and declared value excess-profits tax.
The data obtained by me^ns of this classification are shown in
basic table 7, pages 228-231, Part I of which deals with returns filed
under the 1941 law and Part II with returns filed under the 1940 law.
For all returns with net income and for taxable returns, there are
shown, by type of tax liability and by net income classes, the number
of returns, net income, and each tax applicable; for nontaxable returns
with net income, this table shows, by net income classes, the number
of returns and net incom.e; and for returns with no net income, by
deficit classes, the number of returns and deficit. The total number
of returns with no net income (in both Parts I and II) includes the
returns of inactive corporations.
The items are described in footnotes as indicated on the table.
Net income and deficit classes. — The returns are segregated into 17
classes by size of the net income or deficit for the current year, based on
the amount reported for declared value excess-profits tax computation,
adjusted by excluding the net operating loss deduction.
The following table presents data by net income and deficit classes
for retm^ns with net income and for returns with no net income. For
returns with net income, there are shown the number of returns, net
income, normal tax, surtax, declared value excess-profits tax, and
excess pi'ofits tax. For returns with no net income, there are shown
the number of returns and amount of deficit.
STATISTICS OF INCOME FOR 1941, PART 2
13
Corporation returns, 1941, hy net income and deficit classes, for returns with net
income and returns with no net income: Number of returns, and net income or
deficit; also, for returns with net income: Norm,al tax, surtax, declared value excess-
profits tax, 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 i
Net income and deficit
classes '
Num-
ber of
returns
Net
income '
Normal
tax'
Sur-
tax 8
Declared
value
excess-
profits
tax 3
Excess
profits
tax i
Num-
ber of
returns
Deficit 1
Under 1
79, 203
30, 556
19, 711
14, 472
12, 927
31,766
15,777
9,776
7,297
16, 166
10, 445
8, 5S1
3,564
2, 061
1, 853
246
227
30, 008
44, 383
48, 646
50, 370
58, 227
227, 782
193, 372
169, 790
163, 599
568, 522
736, 059
1,333,121
1, 250, 372
1, 438, 504
3, 845, 024
1,701,016
6, 252, 298
3, 416
5,224
5,887
6,237
7, 450
29, 899
26, 370
23, 209
22.912
96, 822
138, 346
243. 541
222, 197
251,782
651.556
269, 395
943, 327
1,299
1.985
2,220
2.342
2.779
10, 834
9,191
7,850
7,546
26, 295
34, 505
61, 660
56. 702
64, 376
167, 568
74, 494
265, 249
105
140
235
310
334
410
1, 544
1, 381
1,121
1,065
3,759
4.871
8, 552
7, 136
6,629
14, 161
5, 423
7,077
30
30
70
36
72
1,651
4.828
6.940
8,691
45, 738
S3. 314
193, 567
218, 469
260, 602
774, 491
376, 731
1, 383, 926
124. 929
25, 451
12, 678
7,655
5. 263
12, 309
4,792
2,622
1, 568
3, 375
1,784
1,122
367
187
146
14
16
35, 275
36, 378
31 098
1 under 2
26, 539
23 572
4 under 5
5 under 10
86 444
10 under 15 _
58 502
15 under 20
45 308
20 under 25
25 under 50
34, 983
118 215
60 under 100
124 124
100 under 250 _.
170, 599
128 296
250 under 500
500 under 1,000
133 223
1,000 under 5,000
5,000 under 10,000 . ..
301, 601
95 789
10,000 and over
Surtax on returns with no
net income '_ -
328, 007
Total
264, 628
18,111,095
2, 947, 568
797, 000
64, 149
3, 359, 186
204, 278
1,778,553
No income data (inactive
corporations) . .
40, 160
For footnotes, see pp. 21-22.
The text table on page 9 shows, by net income and deficit classes,
the number of returns, number of balance sheets, and percent of returns
with balance sheets, for returns with net income and for returns with
no net income.
Fiscal year returns of corporations, by net income and deficit
classes, are shown in the second text table on page 17.
The data in basic tables 7, 8, and 9 also are segregated by size of
net mcome or deficit. Table 7, pages 228-231, shows number of
returns, net income, and taxes by type of tax liability; table 8, page
232, shows the total number of returns of active corporations with
net income, and with no net income, the number of returns with
dividends received, and amount of dividends from domestic corpora-
tions and from foreign corporations; also the total amount of interest
received on Government obligations, the amount wholly taxable, the
amount subject to declared value excess-profits tax and surtax, the
amount subject to surtax only, and the amount wholly tax-exempt;
table 9, page 233, shows the total number of returns of active
corporations with net income and with no net income, the number of
returns with dividends paid, and amount, by type of dividend, i. e.,
cash and assets other than the corporation's own stock, and the corpo-
ration's own stock.
Historical data by net income and deficit classes are shown on
page 271.
589783—44 2
14 STATISTICS OF INCOME FOR 1941, PART 2
Consolidated returns. — A consolidated return is filed for a group of
affiliated corporations and is based on the principle of levying the tax
on the combined net income of two or more integrated concerns.
The privilege of filing a consolidated return /or income tax purposes
(Form 1120) is limited in 1941 (as in 1940) to affiliated groups of com-
mon carriers by railroad and their related holding or leasing companies
and to Pan-American trade corporations.
An afiiliated group of railroad corporations which may file a consoli-
dated return for income tax purposes is defined by section 141(d) of
the Internal Revenue Code as "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 corporation) 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 corpora-
tion whose principal business 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."
When a common carrier by railroad leases its railroad properties,
and these properties are operated as such by another common carrier
by railroad, the business of receiving rents for such railroad properties
is considered to be the business of a common carrier by railroad. The
term "common carrier by railroad" includes steam and electric rail-
roads, street, suburban, and interurban electric railways, street and
suburban trackless trolley systems of transportation, and street or
suburban bus systems of transportation operated as a part of street or
suburban electric railway or trackless trolley systems, but does not
include express, refrigerator, or sleeping car companies.
Pan-American trade corporations are domestic corporations engaged
solely in the active conduct of a trade or business in Central or South
America. In 1941 (as in 1940) consohdated returns may be filed by
such corporations, including the parent corporation, if the following
conditions are satisfied: (1) At least 80 percent of the gross income for
the taxable year of the parent corporation is derived from sources
other than royalties, rents, dividends, interest, annuities, and gains
from the sale or exchange of stock or securities; and (2) at least 90
percent of the gross income for the taxable year of each of the Pan-
American trade corporations is derived from sources other than
royalties, rents, dividends, interest, annuities, and gains from the
sale or exchange of stock or securities; and (3) no part of the gross
income for the taxable year of any of the Pan-American trade corpora-
tions is derived from sources within the United States.
For 1941 there are 107 consohdated returns for income tax purposes
(Form 1120). Of these, 2 arc for Pan-American trade corporations
and 105 are for common carriers by railroad and their related holding
or leasing companies. Each of the returns of Pan-American trade
corporations shows net income, the aggregate for the two returns
amounting to $27,291,707, witli normal tax of $3,503,223 and surtax
of $1,022,997. There is no declared value excess-profits tax reported
for 1941 by the affiliated companies of this group. Data from the
consolidated returns of railroad corporations are shown in detail in
the two following tables.
STATISTICS OF INCOME FOR 1941, PART 2
15
There are 104 consolidated returns for the calendar year, 1 for a
fiscal year, and 2 for a part year. The consolidated returns are
included in the tabulations pertaining to Form 1120 throughout this
report.
A synopsis of the Federal tax laws under which consolidated returns
are filed for the years 1917 through 1941 appears on pages 317-321,
and data from consolidated returns for 1928 through 1941 are shown
on page 293.
Consolidated returns of railroad corporations, 1941, in aggregate, and for retvrns
with net income and returns with no net income: Number of returns, compiled
receipts, compiled deductions, compiled net profit or net loss, net income or deficit,
net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
excess profits tax, total tax, compiled net profit less total tax, and dividends paid
by type of dividend
[Money figures in thousands of dollars]
Ablegate
Returns
with net
income '
Returns
with no
net in-
come '
Number of rettims.
105
Receipts:
Gross sales "
Gross receipts from operations »
Interest on Government obligations:
Wholly taxable '2
Subject to declared value excess-profits tax and
surtax. '3
Subject to surtax only •<
Wholly tax-exempt "
Other interest
Rents and royalties i'_
Net capital gain "
Net gain, sales other than capital assets i8
Dividends, domestic corporations i»
Dividends, foreign corporations 20
Other receipts 21
Total compUed receipts.
Deductions:
Cost of goods sold 22
Cost of operations 22
Comfiensation of officers 23
Rent paid on business property
Repairs 24
Bad debts
Interest paid
Taxes paid 2s
Contributions or gifts 2»
Depreciation
Depletion
Amortization 2?
Net long-term capital loss "
Net loss, sales other than capital assets ".
Other deductions 28
Total compiled deductions .
Compiled net profit or net loss (— ) (15 less 31).
Net income or deficit (-) ' [32 less (6-|-7)]
Net operating loss deduction 2«
Normal tax '
Surtax '
Declared value excess-profits tax '•
Excess profits tax *
Total tax.
Compiled net profit less total tax (32 less 39).
Dividends paid:
Cash and assets other than own stock.
Corporation's own stock
4, 845, 334
329
40, 515
168, 236
357
454
59, 459
425
14, 039
4, 128, 514
4
728
272
37, 609
153, 329
199
427
57, 967
425
12, 303
5, 129, 934
4, 391, :
3, 227, 827
3,566
346, 191
2
843
501, 461
350, 116
162
122, 879
2,681
11,096
95,443
2,607
241, 429
2, 724, 815
2,684
298, 566
2
628
395, 337
297, 313
162
104, 539
2,678
10,323
91, 892
2,572
1&1,250
4, 906. 303
4. 125, 763
223. fi30
223. 293
40.341
266. 023
265, 744
40, 341
43.316
12,649
6
12,968
43, 316
12,649
6
12,968
68,938
68,938
154. 692
197, 085
61,421
61,354
716, 820
57
2,906
14,908
158
27
1,492
1.736
738. 147
503. 012
882
47, 625
215
106, 124
52, 803
18, 340
3
773
3,551
35
47, 178
780, 540
-42, 393
-42, 451
3»-42. 393
68
For footnotes, see pp. 21-22.
16
STATISTICS OF INCOME FOR 1941, PART 2
Consolidated returns of railroad corporations siihmitting balance sheets, 1941, in
aggregate, and for returns with net income and returns with no net income: Number
of returns, assets, and liabilities
[Money figures in thousands of dollars]
Aggregate
Returns
with net
income '
Returns
with no net
income '
Number of returns with balance sheets si.
102
Assets:
Cash 32 -.-
Notes and^accounts receivable (less reserve) .
Inventories
Investments, Government obligations 33
O ther investments _.,
Capital assets si (less reserves)
Other assets 33
674, 279
306, 339
407, 930
1,510
3, 361, 189
19, 120, 622
632, 357
541, 620
255, 753
350, 805
605
2, 940, 839
15, 723, 176
497, 382
132, 659
50, 586
57, 125
905
420, 350
, 397, 446
134, 975
Total assets 36_
24, 504, 227
20, 310, 182
4, 194, 045
Liabilities:
Accounts payable
Bonds, notes, mortgages payable:
Maturity less than 1 year
Matuiitv 1 year or more
Other liabilities 37
Capital stock, preferred
Capital stock, common
Surplus reserves
Surplus and undivided profits 38..
Less deficit 39
553, 897
61,610
,417.471
, 039, 726
821, 713
, 434. 725
196. 379
, 625. 346
, 246, 640
416, 444
12, 505
9, 089, 877
1, 700, 299
470. 483
5, 451, 828
165, 915
3, 484. 006
481, 174
137, 453
49, 105
2, 327, 593
939, 427
351.231
982, 898
30, 464
141,339
765, 466
Totalliabilities 36 __ 24,504,227
20, 310, 182
4, 194, 045
For footnotes, see pp. 21-22.
Fiscal year returns. — Fiscal jom- returns are filed by corporations
with income year other than the calendar year. For 1941 there are
100,435 returns of corporations with fiscal years ending in the period
July 1941 through June 1942. These returns, for which data are pre-
sented separately in the tables following, are included in the tabula-
tions pertaining to Form 1120 throughout this report.
The first following table shows data for all fiscal year returns, by
month in which fiscal year ended. The total number of fiscal year
returns, 100,435, includes 3,976 returns of inactive corporations. For
the 59,317 fiscal year returns with net income, there are shown the
amounts of net income, normal tax, surtax, declared value excess-
profits tax, and excess profits tax. For the 37,142 fiscal year returns
of active corporations with no net income, the amount of deficit
is shown.
The s(>cond following table presents data by net income and deficit
classes, for the fiscal year returns filed by 96,459 active corporations.
For the 59,317 returns with net income, there are shown the net
income, normal tax, surtax, declared value excess-profits tax, and
excess profits tax. For the 37,142 fiscal year returns of active corpo-
rations with no net income, the amount of deficit is shown.
STATISTICS OF INCOME FOR 1941, PART 2
17
Fiscal year returns of corporations, 1941, hy month in which fiscal year ended, for
returns with net income and returns with no net income: Number of returns, net
income or deficit; and, for returns with net income: Normal tax, surtax, declared
value excess-profits tax, and excess profits tax
[Money figures in thousands of dollars]
Fiscal year ending —
July 1941
August 1941. _..
September 1941
October 1941_..
November 1941
January 1942...
February 1942_
March 1942
April 1942
May 1942
June 1942
Total....
Total
number
of re-
turns <<*
Returns with net income '
7,206
7,883
9, 435
8,522
7,661
9, 431
6,597
9,380
8,715
8,207
17, 398
100, 435
Num-
ber
3,774
4,227
5, 024
4,721
4,892
6,517
3,748
5,274
5, 023
5, 023
11,094
Net
income '
153,713
216, 697
303, 777
380, 245
329, 804
451,754
185, 871
206, 817
245, 572
199,919
631,079
59,317 3,305,249 617,568 92,454
Normal
tax?
31,938
46, 678
67, 475
85, 193
72, 764
78, 204
29; 680
34, 899
36, 234
32, 565
101,932
Sur-
tax 8
22, 992
8,770
10, 330
10, 731
9, 652
29, 979
Declared
value
excess-
profits
tax 3
40
100
298
676
1,038
1, 261
1, 565
1,943
3, 303
3, 223
14, 546
Excess
profits
lax*
9,814
16, 810
40, 026
30, 750
36, 914
88, 576
24, 286
37, 927
72, 981
44, 767
146, 408
27,992 549,258
Returns with
no net income '
Num-
ber
.3, 117
3, 323
4, 031
3,419
2,470
2, 5(>4
2, 545
3, 761
3, 363
2, 893
5,656
37, 142
Deficit '
17,815
17, 681
24, 083
19, 699
19, 980
21,898
14,748
18,084
20, 914
12, 157
27, 290
214, 350
For footnotes, see pp. 21-22.
Fiscal year returns of corporations, 1941, by net income and deficit classes, for returns
with net income and returns with no net income: Number of returns, and net income
or deficit; also, for returns with net income: Normal tax, surtax, declared value
excess-profits tax, 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 '
Num-
ber of
returns
Net
income '
Normal
ta.\'
Sur-
tax 5
Declared
value
excess-
profits
tax 3
Excess
profits
tax<
Num-
ber of
returns
Defi-
cit'
Under 1
15, 205
6, 621
4,529
3,346
3, 033
7,427
3,739
2,424
1,876
4,208
2, 681
2,324
882
543
424
32
23
6,070
9,627
11,189
11,643
13,653
53,319
45, 816
42,155
42, 130
148,307
188,263
360, 409
309, 2.53
379, 132
838, 180
216, 513
629, 591
696
1,148
1,390
1,469
1,793
7,162
6, 354
5,924
6, 100
26. 876
37, 955
71,200
60, 697
73, 555
163, 5.33
42, 047
109, 670
169
283
352
359
450
1,692
1,458
1,278
1,297
4, 7.^4
5, 885
11,393
8,777
10, 642
20, 921
5,624
17,121
18
42
56
63
85
336
339
298
307
1,131
1,594
3, 657
3, 100
3, 086
7,829
3,412
2, 639
4
3
4
3
24
297
1,065
1,483
1,820
11,067
19, 350
48,183
48, 504
65, 684
150,442
47, 436
153,891
20, 668
4, 9,59
2, 589
1,612
1,137
2,770
1,126
604
321
744
346
185
49
21
10
1
6,263
1 under 2.
7,123
2 under 3.-
6,373
3 under 4
5,607
4 under 5 .
5,098
5 under 10
19, 431
10 under 15.
13,782
15 under 20...
10, 387
20 under 25 .
7,147
25 under 50
25, 902
sounder 100
23, 487
100 under 250
28, 037
250 under 500-
16,879
500 under 1,000.
14,885
1,000 under 5,000
17,138
6,000 under 10,000
6,812
10,000 and over
Total -
59,317
3, 305, 249
617, 568
92,454
27,992
549, 258
37, 142
214,350
No income data (inactive
corporations) . .
3,976
For footnotes, see pp. 21-22.
18 STATISTICS OF INCOME FOR 1941, pART 2
Part year returns. — Part year returns of corporations are those filed
for a period of less than 12 months, and represent reorganizations,
newly organized businesses, liquidations, and changes from calendar
year to fiscal year basis, or vice versa. The 24,961 part year returns
for which data are shown in the following table are for corporations
with the greater part of the income period in 1941. These returns are
included in the tabulations pertaining to Form 1120 throughout this
report, except in the tables for fiscal year returns on page 17.
Part year returns of corporations, 1941
Total number of returns ' 24, 961
Returns with net income: i
Number of returns 9, 079
Net income' $406, 240, 862
Tax liability:
Normal tax ^ $63, 684, 180
Surtax 8 $18, 296,418
Declared value excess-profits tax ^ $1, 297, 321
Excess profits tax * $113, 110, 402
Total tax $196,388,321
Returns with no net income: '
Number of returns 15, 882
Deficit 1 $111,274,409
For footnotes, see pp. 21-22.
DATA TABULATED
The data presented in the tabulations of this report pertain to the
number of returns and the amounts of receipts, deductions, net income,
deficit. Federal tax. liability, dividends paid, assets, and liabilities.
The tabulated items are described in footnotes as indicated on each
table.
Receipts and deductions, itemized and total, are shown in the text
tables on pages 8 and 15 and in basic tables 3, 4, and 5, pages 60-141.
The total amount of compiled receipts is shown in text tables on pages
6 and 11, in basic tables 1 and 2, pages 44-59, and in basic table 6,
pages 142-227.
Dividends received and interest received on Government obligations, in
addition to being included in the text tables on pages 8 and 15, and in
basic tables 3, 4, and 5, pages 60-141, are presented separately in
basic table 8, page 232.
Compiled net profit or net loss (which includes wholly tax-exempt
interest on Government obligations) is shown in text tables on pages
9, 11, and 15, and in basic tables 3 through 6, pages 60-227.
Net income or deficit appears in text tables on pages 2, 6, 9, 11, 13,
15, 17, and 18, and in basic tables 1 through 7, pages 44-231.
Net operating loss deduction (due to net operating loss for the two
preceding taxable years) is shown in the text tables on pages 9 and 15,
and in basic tables 3, 4, and 5, pages 60-141.
Normal tax, surtax, declared value excess-profits tax, and excess profits
tax are each shown separately in the text tables on pages 6, 9, 13, 15, 17,
and 18, and in basic tables 1 through 5, pages 44-141, and basic table 7,
pages 228-231.
STATISTICS OF INCOME FOR 1941, PART 2 19
Total tax is shown in text tables on pages 2, 6, 9, and 15, and in basic
tables 1 through 7, pages 44-231. The total income tax (normal tax
plus surtax) tabulated includes the total amount of income tax before
deduction of tax credit claimed for income and profits taxes paid to
foreign countries or possessions of the United States. The amount of
this credit is shown below.
Compiled net projit less total tax is shown in the text tables on pages
9 and 15, and in basic tables 3, 4, and 5, pages 60-141.
Dividends paid, in addition to being included in the text tables on
pages 9 and 15, and in basic tables 1 through 6, pages 44-227, are
presented separately in basic table 9, page 233.
Assets and liabilities, itemized and total, are presented in the text
tables on pages 10 and 16, and in basic tables 4, 5, and 6, pages 102-
227; total assets appear in the text table on page 11.
Items similar to those enumerated above, for prior years, are shown
on pages 270-293.
INCOME AND PROFITS TAXES PAID TO FOREIGN COUNTRIES OR POSSESSIONS
OF THE UNITED STATES
That portion of the income and profits taxes paid or accrued to
foreign countries or possessions of the United States, which is claimed
as a tax credit under provisions hereinafter described, is $62,524,644
for returns with net income. Of this amount, $62,277,117 is reported
on returns with balance sheets and $247,527 on returns with no
balance sheets. Such credit is claimed only where a tax liability
exists and therefore is inapplicable to returns with no net income.
The amount of foreign taxes which are included in deductions from
gross income, by corporations not claiming the tax credit, is not
tabulated separately.
The Internal Revenue Code provides the following methods for
reporting income and profits taxes paid or accrued to foreign countries
or possessions of the United States:
(1) Under section 131 of the Code such tax may be claimed as a
credit against income tax payable to the United States. When so
reported, the amount of the credit in respect of the tax paid to any
country cannot exceed the same proportion of the tax against which
such credit is taken, which the corporation's net income from sources
within such country bears to its entire normal-tax net income for the
same taxable year; and the total amount of the credit cannot exceed
the same proportion of the tax against which such credit is taken,
which the corporation's net income from sources without the United
States bears to its entire normal-tax net income. This method is
denied to a foreign corporation, a corporation organized under the
China Trade Act, 1922, and to a domestic corporation which is
entitled to the benefits of section 251 by reason of receiving a large
percentage of its gross income from sources within a possession of the
United States.
(2) Under section 23(c) of the Code, corporations which do not
elect to have the benefits of section 131 and corporations which are
denied such benefits may include the total amount of such taxes in
deductions from gross income.
20 STATISTICS OF INCOME FOR 1941, PART 2
The amount of credit claimed for income and profits taxes paid or
accrued to foreign countries or possessions of the United States for
each of the years 1925 through 1935 appears on page 8 of the 1935
vokime, Statistics of Income, Part 2; and beginning with 1939, is
shown in Statistics of IncomxC, Part 2, for each year.
TAX LIABILITY AND COLLECTIONS, FACTORS AFFECTING COMPARABILITY
The tax habihty shown in this report (the total amount reported
on the corporation, returns as filed) is not strictly comparable with the
amount of tax collected for any given period, because of certain
factors, among which are the following:
1. Audit of the returns may change the amount of tax liability.
2. The credit claimed for income and profits taxes paid by domestic
corporations to foreign countries or possessions of the United States
is not deducted from the amount of income tax liability shown in this
report. (For amount of this credit, see page 19.)
3. Income tax paid at source on tax-free covenant bonds is included
in the corporation income tax collections, but does not appear in these
tabulations.
4. For those 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 in filed. Thus, during the calendar year 1942, collections were
made of part or all of the taxes reported on returns for a fiscal year
ending in the period January 31, 1941, through September 30, 1942,
the last quarterly installment payment on returns with fiscal year
ending January 31, 1941, being due on January 15, 1942, and the first
quarterly installment payment on returns with fiscal year ending
September 30, 1942, being due on December 15, 1942; whereas there
are excluded from the statistics in this report, as previously indicated,
the returns for a fiscal year ending prior to July 1941 and subsequent
to June 1942.
5. The amount collected in the current year includes "back taxes"
as well as the interest and penalties thereon. Back taxes are tax
payments which are delayed due to delinquency in filing, financial
embarrassment, liquidation of business, or any other cause, and are
not collected until after the close of the year in which they are clue.
6. The amount tabulated in Statistics of Income is the entire tax
liability reported on the returns, whereas a relatively small portion of
such liability may be uncollectible.
7. Tabulations in this report exclude data reported on nonresident
foreign corporation income tax returns. Form 1120NB, whereas
collections in the current year include taxes on these leturns. Foreign
corporations not engaged in trade or business within the United States
and not having an office or place of business therein are required to
report, on Form 1120NB, income derived from sources within the
United States, unless the full amount of the tax has been withheld at
the source.
STATISTICS OF INCOME FOR 1941, PART 2
21
Footnotes for text tables, pages 2-18
(Facsimiles of return forms, to which references are made, appear on pp. 323-352)
I "Net income" or "Deficit" for 1941 (as in 1940)
is the amount reported for declared value excess-
profits tax computation, adjusted by excluding net
operating loss deduction (items 30 and 26, respec-
tively, page 1, Form 1120).
2 Amount shown as "Income tax" for taxable years
beginning in 1940 includes income defense tax; for
taxable years beginning after 1940, such amount con-
sists of normal tax and surtax, the defense tax being
incorporated in the normal tax. (See also notes 7
and 8.)
3 Amount shown as "Declared value excess-profits
tax" for taxable years ending between July 1, 194P,
and June 30, 1941, includes declared value cxcest-
profits defense tax; for taxable years ending after
June 30, 1941 , such amount consists of declared value
excess-profits tax only, the defense tax being incorpo-
rated therein. Amount shown for affiliated railroad
corporations, p. 15, is reported in separate declared
value excess-profits tax returns, the filing of consoli-
dated retJirns not being permitted for this purpose.
< The excess profits tax shown is that imposed by
section 710 of the Internal Revenue Code as amended
and should not be confused wiih the declared value
excess-profits tax. For returns with taxable year be-
ginning in 1940, the amount tabulated is the excess
profits tax liability reported on corporation exco?s
profits tax returns (item 32, page 1, Form 1121). For
returns with taxable year beginning in 1941, the
amount tabulated is the excess profits tax deduction
(item 35, page 1, Form 1120) allowed in the compu-
tation of normal-tax net income.
' The industrial classification is based on the busi-
ness activity reported on the return. When multi-
ple businesses are reported on a return, the classifi-
cation is determined by the business activity which
accounts for the largest percentage of total receipts.
Therefore, the industrial groups do not reflect pure
industry classifications. The industrial groups are
based on the Standard Industrial Classificatior,
Issued by the Division of Statistical Standards,
Bureau of the Budget, Executive Office of the Presi-
dent. Charts showing the major industrial groups
and minor industrial groups in which changes occur
between 1941 and 1940 are shown on pp. 300-303,
6 "TotsI compiled receipts" consists of gross sales
(less returns and allowances), gross receipts from
operations (where inventories are not an income-
determining factor), all interest received on Govern-
ment obligations, other interest, rents and royalties,
net short-term capital gain, net long-term capital
gain, net gain from sale or exchange of property other
than capital a^ets, dividends, and other receipts re-
quired to be included in gross income, described in
note 21. "Total compiled receipts" excludes non-
taxable income other than tax-exempt interest re-
ceived on certain Government obligations.
' "Normal tax" includes incomic and income de-
fense taxes reported on returns for a fiscal year ending
in period July through November 1941 and on re-
turns for a part year beginning in 1940 and ending in
1941, the greater part of the accounting period falling
in 1941.
' The surtax levied under section 15 of the Internal
Revenue Code, as amended by the Revenue Act of
1941, apiilies to taxable years beginning after Decem-
ber 31, 1940, Tabulated with the surtax for returns
with net income is a small amount of surtax reported
on returns with no net income, where receipts for the
taxable year include interest on obligations of certain
instrumentalities of the United States, described in
note 14, such interest being added to the net income
for declared value excess-profits tax comjiutation in
the process of computing the surtax net income.
• Number of returns shown excludes returns of
inactive corporations.
■""Gross sales" consists of amounts received for
goods, less returns and allowances, in transactions
where inventories are an income-determining factor.
For "Cost of goods sold," see "Deductions."
" "Gross receipts from operations" consists of
amoimts received from transactions in which inven-
tories are not an income-determining factor. For
"Cost of operations," see "Deductions."
12 "Interest received on Government obligations,
wholly taxable" consists of interest on Treasury
notes of the National Defense Series and obligations
issued on or after March 1, 1941, by the United States
or any agency or instrumentality thereof, reported
as item 8(b), page 1, Form 1120.
'■i "Interest received on Government obligations,
sublect to declared value excess-profits tax and .sur-
tax" consists of interest on United States savings
oonds and Treasury bonds owned in principal
amount of over .$5,000 issued prior to March 1, 1941,
reported as item 8(a), page 1, Form 1120,
" "Interest received on Government obligations,
subject to surtax only" consists of interest on obliga-
tions of instrumentalities of the United States (other
than obligations issued under the Federal Farm Loan
Act, or under such Act as amended) issued prior to
March 1, 1941, reported as item 31, page 1, Form 1120.
15 "Interest received on Government obligations,
wholly tax-exempt" consists of interest on obliga-
tions of States, Territories, or political subdivisions
thereof, the District of Columbia, and United States
possessions; obligations of the United States issued
on or before September 1. 1917; Treasury notes issued
prior to December 1, 1940; Treasury bills, and
Treasury certificates of indebtedness issued prior to
March 1, 1941; obligations issued prior to March 1,
1941, under the Federal Farm Loan Act, or under
such Act as amended; and United States savings
bonds and Treasury bonds owned in principal
amount of $5,000 or less issued prior to March 1, 1941.
Interest from such sources is reported under item
15(a) of schedule M, page 4, Form 1120.
18 Amount shown as "Rents and royalties" con-
sists of gross amounts received. The amounts of
depreciation, repairs, interest, taxes, and other ex-
penses, which are deductible from the gross amount
received for rents, and the amount of depletion,
which is deductible from the gross amount of royal-
ties received, are included in the respective deduction
items.
1" "Net capital gain or loss" is the net amount of
gain or loss arising from the sale or exchange of capi-
tal a.ssets. The term "Capital assets" means prop-
erty held by the taxpayer (whether or not connected
with trade or business) but excludes (1) stock in
trade or other property which would properly be
included in inventory if on hand at the close of the
taxable year, (2) property held primarily for sale to
customers in the ordinary course of trade or business.
<3) property used in trade or business, of a character
which is subject to the allowance for depreciation,
and (4) Government obligations issued on or after
March 1,1941, on a discount basis and payable with-
out interest at a fixed maturity date not exceeding
one year from the date of issue. Capital gains and
losses are classified as "short-term" if the assets were
held 18 months or less, "long-term" if the assets were
held for more than 18 months. In computing net
income for the current year, a net short-term capital
gain and a net long-term capital gain or loss are in-
cluded but a net short-term capital loss is excluded.
However, a net short-term capital loss (in an amount
not in excess of the net income for the year in which
the loss was sustained) may be carried forward and
applied against any short-term capital gain of the
succeeding taxable year not already offset by capital
losses of such succeeding year. This carry-over is
restricted to one year.
IS "Net gain or loss, sales other than capital assets"
is the net amount of gain or loss arising from the sale
or exchanee of property used in trade or business,
of a character which is subject to the allowance for
depreciation.
(Footnotes continued on p. 22)
22
STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for text tables, pages 2-18 — Continued
(Facsimiles of return forms, to which references are made, appear on pp. 323-
352)
I' "Dividends, domestic corporations" is the
amount reported in column 2, schedule E, page 3,
Form 1120. This amount consists of dividends re-
ceived from domestic corporations subject to income
taxation under chapter 1 of the Internal Revenue
Code and is the amount used for computation of the
dividends received credit. There is excluded from
this amount dividends from corporations organized
under the China Trade Act, 1922, and corporations
entitled to the benefits of section 251 of the Internal
Revenue Code (corporations receiving a large por-
tion of their gross income from sources within a pos-
session of the United States) such dividends being
included in "Other receipts."
20 "Dividends, foreign corporations" is the amount
reported in column 3, schedule E, page 3, Form 1120,
and is not used for the computation of dividends re-
ceived credit.
21 "Other receipts" includes dividends from cor-
porations organized under the China Trade Act,
1922, and corporations entitled to the benefits of
section 251 of the Internal Revenue Code (corpora-
tions receiving a large portion of their gross meome
from sources within a possession of the United States),
and amounts not elsewhere reported on the return
such as: Profit from sales of commodities other than
the principal commodity in which the corporation
deals; income from minor operations; bad debts re-
covered; cash discount; conditional payments from
United States Department of Agriculture; Federal
income tax paid by lessee; income from claims, license
rights, judgments and joint ventures; net amount
under operating agreements; net profit from com-
missaries; profit on dealing in futures; profit on prior
years' collections (installment basis); profit on pur-
chase of corporation's own bonds; recoveries of bonds,
stocks, and other securities; refunds for cancellation
of contracts, for insurance, management expenses,
and processing taxes; and income from sales of scrap,
salvage, or waste.
22 Where the amount reported as "Cost of goods
sold" or "Cost of operations" includes items of deduc-
tions such as depreciation, taxes, etc., these items
ordinarilv are not transferred to their specific head-
ings. However, an exception is made with respect
to amortization of emergency facilities reported in
costs, such amount being transferred to "Amortiza-
tion."
23 Amount shown as "Compensation of officers"
excludes compensation of officers of life insurance
companies which file Form 1120L. Data not avail-
able.
2< Amount shown as "Repairs" is the cost of inci-
dental repairs, including labor and supplies, which
do not add materially to the value of the property or
appreciably prolong its life.
2« The item "Taxes paid" excludes (1) Federal in-
come tax and Federal excess profits taxes, (2) estate,
inheritance, legacy, succession, and gift taxes, (3)
income taxes paid to a foreign country or pos.session
of the United States if any portion is claimed as a tax
credit, (4) taxes assessed against local benefits, (5)
Federal taxes paid on tax-free covenant bonds, and
(6) taxes reported iu "Cost of goods sold" and "Cost
of operations."
2« The deduction claimed for "Contributions or
gifts" is limited to 5 percent of net income as com-
puted without the benefit of this deduction.
" Amount shown as "Amortization" is the deduc-
tion provided by the Second Revenue Act of 1940
which allows for the amortization of the cost of emer-
gency facilities necessary for national defense.
28 Included in "Other deductions" arc (1) negative
amounts retJorled under income, (2) losses by aban-
donment, fire, .storm, shii)wreck, or other casualty,
and theft, (3) salaries aiul wages not deducted else-
where on the return, and (4) amounts not otherwise
reported as: Administrative, general, and office ex-
penses; advertising costs; bonuses and cununissions;
delivery charges; freight and shipping expen.ses; pay-
ments in connection with lawsuits; research expenses,
sales discount; selling costs; travel expenses; and un-
re ilized profits on installment sales; also special de-
ductions of life insurance companies relating to
reserve for dividends and reserve funds required by
law, which deductions are $1,008,545,941 for returns
with balance sheets and $4,657,726 for returns with no
balance sheets.
2» The "Net operating loss deduction" is the net
operating loss carry-over reduced by certain adjust-
ments. In general, the net operating loss carry-over
is the sum of the net operating losses, if any, for the
two preceding taxable years. If there is net income
in the first preceding taxable year, the net operatmg
loss for the second preceding taxable year is reduced
to the extent such loss has been absorbed by such net
income.
3" Compiled net loss after total tax payment.
31 "Number of returns with balance sheets" ex-
cludes returns of inactive corporations and returns
with fragmentary balance sheet data.
32 Amount shown as "Cash" includes bank de-
posits.
33 Amount shown as "Investments, Government
obligations" consists of obligations of the United
States or agency or instrumentality thereof as well as
obligations of States, Territories, and political sub-
divisions thereof, the District of Columbia, and
United States possessions.
3* Amount shown as "Capital assets" consists of
(1) depreciable tangible assets such as buildings,
fixed mechanical equipment, manufacturing facili-
ties, transportation facilities, and furniture and
fixtures, (2) depletable tangible assets— natural re-
sources, (3) intangible assets such as patents, fran-
chises, formulas, copyrights, leaseholds, good will,
and trade-marks, and (4) land. (Amount on page
10 excludes land.)
3S Amount shown as "Other assets" consists of
assets not elsewhere reported on return, such as:
Sinking funds; other funds; deferred charges; organi-
zation expenses; prepaid and suspense items; interest,
discount, coupons, and dividends receivable; guar-
anty deposits, and deposits on contracts and meters;
and cash value of life insurance. "Other assets" of
life insurance companies includes market value of
real estate and bonds and stocks in excess of book
value; interest, rents, and premiums due; and
agents' t)alances.
3« Assets and liabilities are tabulated as of Decem-
ber 31, 1941, or close of fiscal year nearest thereto.
Total assets classes are based on the net amount of
total assets after reserves for depreciation, depletion,
amortization, and bad debts. Adjustments are
made in tabulating the data as follows: (1) Reserves,
when shown under liabilities, are used to reduce
correspondintr asset accounts, and "Total assets" and
"Total liabilities" are decreased by the amount of
such reserves, and (2) a deficit in surplus, shown
under assets, is transferred to liabilities, and "Total
assets" and "Total liabilities" are decreased by the
amount of the deficit.
37 Amount shown as "Other liabilities" consists of
liabilities not elsewhere reported on return, such as:
Deferred and suspense items; accrued expenses; divi-
dends pavable; fmids held in trust; borrowed securi-
ties; outstanding coupons and certificates; and over-
drafts. "Other habilitics" of life insurance com-
panies includes the net value of outstandmg policies
and annuities, and borrowed money. "Other lia-
bilities" of banks includes deposits (time, savings,
demand, etc.) and bank notes in circulation. "Other
liabilities" of building and loan associations includes
certificates of deposit.
39 Amount shown as "Surplus and undivided
profits" consists of paid-in or caiiital surplus and
earned surplus and undivided profits. See note 39.
3» Amount shown as "Deficit" consists of negative
amounts of earned surpkis and undivided profits.
" Total number of fiscal year returns includes re-
turns of inactive corporations.
STATISTICS OF INCOME FOR 1941, PART 2
23
CORPORATION EXCESS PROFITS TAX RETURNS (FORM 1121)
SUMMARY DATA
The number of excess profits tax returns tabulated is 91,649, of
which 42,412 returns with adjusted excess profits net income of
$6,334,864,471 show excess profits tax amounting to $3,362,533,908
and 49,237 returns with $3,880,222,598 adjusted excess profits deficit
show no excess profits tax. As compared with returns for 1940,
there is an increase of 216 percent in the number of taxable returns
and an increase of 800 percent in the amount of tax reported. The
following table shows the changes between 1940 and 1941 in each of
the principal items:
Corporation excess profits tax returns, 1941 and 1940: Number of returns, excess
profits net income and credits, adjusted excess profits net income or deficit, and tax
[Money figures in thousands of dollars]
1940'
Increase or decrease
(-)
Number or
amount
Percent
Total number of returns
Returns with adjusted excess profits net income: '
Number of returns
Excess profits net income '
Excess profits credit *
Excess profits credit carry-over s --
Adjusted excess profits net income *
Excess profits tax«
Returns with no adjusted excess profits net income: '
Number of returns
Excess profits net income '
Excess profits credit * -..
Excess profits credit carry-over '
Adjusted excess profits deficit ^
91, 649
42, 412
072, 516
261, 799
290, 679
334, 864
362, 534
49, 237
437, 869
092, 827
979, 079
880,223
57, 932
13,440
2, 997, 937
2, 019, 109
911, 603
373, 511
44, 492
3, 507, 329
6, 792, 265
3, 557, 921
33, 717
28,972
9, 074, 579
3, 242, 690
290, 679
5, 423, 261
2, 989, 023
4,745
-69, 460
-1, 699, 438
1, 979, 079
322, 302
58
216
303
161
595
800
11
-2
-25
For footnotes, see p. 31.
RETURNS INCLUDED
The excess profits data in this report are tabulated from returns
for the calendar year 1941, a fiscal year ending within the period
July 1941 through June 1942, and a part year with the greater por-
tion of the accounting period in 1941. It should be noted, however,
that for tabulation purposes these returns are divided into two
groups as follows:
(1) Returns filed under 194-1 law. — This class includes returns for
the calendar year 1941, for a fiscal year ending in the period January
through June 1942, and for a part year beginning in 1941 with the
greater part of the accounting period in 1941.
(2) Returns filed under 1940 few.— This class consists of returns
for a fiscal year ending in the period July through November 1941,
and for a part year beginning in 1940 with the greater part of the
accounting period in 1941.
With the exception of the immediately preceding text table, the
tabulations of excess profits data are limited in each instance to one
or the other of the foregoing groups. The text tables on pages 24-28
and basic tables 10-14, inclusive, are devoted to the returns in the
first group, while the text tables on pages 29-30 provide information
with respect to the second group.
24
STATISTICS OF INCOME FOR 1941, PART 2
The data are tabulated from the returns as filed prior to revisions
that may be made as a result of audit by the Bureau of Internal
Revenue. Data from tentative and amended returns are not in-
cluded. Approximately 20,000 nontaxable returns with excess profits
net income (computed under the invested capital method) of not
more than $5,000 are not included in this report since their incomes
are below the filing requirement.
For both taxable and nontaxable excess profits tax returns filed
under the 1940 law and for the taxable returns filed under the 1941
law, the data shown in this report are tabulated from each return.
In the case of nontaxable returns filed under the 1941 law, the data
represent a combination of (1) completely tabulated data from returns
showing normal tax net income of $100,000 or more, or excess profits
credit of $250,000 or more, and from consolidated returns regardless
of the size of these items, and (2) estimated data based on a 20 per-
cent sample of returns which show normal tax net income and excess
profits credit below the sizes specified and which are not filed on a
consolidated basis.
CHANGES IN LAW AFFECTING EXCESS PROFITS TAX RETURNS (FORM 1121)
The excess profits tax structure for 1941 is basically the same as for
1940, described in Statistics of Income for 1940, Part 2, pages 21-25.
However, the comparability of excess profits data for the two years is
affected by certain provisions of the Revenue Act of 1941, applicable
to tax years beginning in 1941. The principal changes thereby
introduced are described below:
(1) Increase in rates. — The excess profits tax rate in each adjusted
excess profits net income bracket is increased by 10 percentage points
as follows:
Adjusted excess profits net income 2
(Thousands of dollars)
1941 rates
(percent)
1940 rates
(percent)
Under 20 ..- ---
35
40
45
50
55
60
25
20 under 50 . .
30
sounder 100 - . . .
35
100 under 250
40
250 under 500 -
45
Over 500 . - -. --
50
For footnote, see p. 31 .
(2) Reversal of the deductions for income and excess profits taxes. —
Under the excess profits tax law, the income tax was heretofoi'c allowed
as a deduction in computing excess profits net income. The 1941
Act provides instead that the excess profits tax is to be allowed as a
deduction for income tax purposes. The increase in excess profits
tax liability resulting from this reversal is partially oflfset by a reduc-
tion in the normal tax and surtax.
(3) Reduction in invented capital credit.— In iho case of corporations
using the invested capital method, the excess ]irofits credit is reduced
from a flat 8 percent of invested cnpital to 8 percent of invested
capital not in excess of $5,000,000 plus 7 percent of the invested
capital in excess of that amount.
(4) New capital.— To encourage the investment of new capital in
corporate enterprise, a more libeial allowance is ]Jiovided for new
capital in computing the excess profits credit under the invested
capital method. New capital in the form of money or property paid
STATISTICS OF INCOME FOR 1941, PART 2
25
in for stock during taxable years beginning after December 31, 1940,
and of taxable stock dividends made during the same period is counted
at 125 percent of its value in computing equity invested capital.
Earnings and profits retained in the business are not considered new
capital.
DISTRIBUTION OF TAXABLE RETURNS AND TAX
For all taxable returns filed under the 1941 law, the effective excess
profits tax rate, i. e., the total excess profits tax divided by the ad-
justed excess profits net income, is 53.8 percent. Only 1,543 returns
show income subject to the top rate of 60 percent. This group of
returns, while representing only 4 percent of the total number of
returns with adjusted excess profits net income, shows excess profits
tax of $2,535,633,072, or 79 percent of the total. At the lower end
of the rate scale, -21,710 returns, or 57 percent of the total, show
income subject only to the 35 percent rate and account for less than
2 percent of the tax. The number of taxable returns and excess
profits tax by highest rate applicable are as follows:
Highest rate applicable (percent)
Number of
returns
Excess profits
tax'
(thousands of
dollars)
Percentage distribution
Returns
Tax
35 ..
21,710
6,650
3,812
3,196
1,351
1,543
50, 218
78, 764
107,069
221,690
228, 247
2, 535, 633
56.74
17.38
9.96
8.36
3.53
4.03
1.56
40
2.44
45 ---
3.32
50 - ....
6.88
55 _._
7.09
60 -
78.71
Total
38, 262
3,221,621
100. 00
100.00
For footnote, see p. 31.
COMPARISON OF TAXABLE AND NONTAXABLE RETURNS
While less than one-half of the returns filed under the 1941 law show
adjusted excess profits net income and excess profits tax, four-fifths of
the normal-tax net income is reported on returns with adjusted excess
profits net income. The proportion of returns with adjusted excess
profits net income is highest in the $500,000 to $1,000,000 normal-tax
net income class and lowest in the under $20,000 class.
The number of returns and normal-tax net income are shown below
by normal-tax net income classses for returns with adjusted excess
profits net income and returns with no adjusted excess profits net
income:
[Normal-tax net income classes and money figures in thousands of dollars]
Normal-tax net income classes ^
(after excess profits tax)
Under 20..
20 under 50
sounder 100. ._
100 under 250
250 under 500
500 under 1,000 _
1,000 under 5,000
5,000 and over...
Deficit 8
Total
For footnotes, see p. 31
All returns
Number
of
returns
45, 209
17, 768
7,972
5,898
2,239
1,205
1,047
280
1,739
Normal-tax
net income '
(before excess
profits tax)
481, 401
625, 425
669, 831
1, 158, 172
1,019,277
1,132,765
2, 894, 725
5, 960, 766
9 115,482
83,357 I '» 13,026,881
Returns with adjusted
excess profits net
income 2
Number
of
returns
13, 491
10, 960
5,605
4,475
1,729
932
787
211
72
Normal-tax
net income '
(before excess
profits tax)
189, 665
422, 587
507,113
939, 389
842, 150
941, 153
346, 462
910, 918
1,722
Returns with no ad-
justed excess profits
net income ^
Number
of
returns
31.718
6, 80S
2,367
1,423
510
273
260
69
1,667
Normal-tax
net inconie'
291, 736
202, 838
102,718
218, 784
177, 127
191,612
54S, 263
1,049,848
9 1 7, 204
3«. 262 I 11,101,159! 45. 095 I " 2. 725, 722
26 STATISTICS OF INCOME FOR 1941, PART 2
METHOD OF CREDIT COMPUTATION
Throughout basic tables 10-14, the returns filed under 1941 law
provisions are segregated according to the method of credit computa-
tion employed. This classification discloses that although the re-
turns with excess profits credit based on income represent slightly less
than one-half of the returns with adjusted excess profits net income,
they account for approximately two-thirds of the excess profits net
income, excess profits credit, adjusted excess profits net income, and
excess profits tax. Among the returns with no adjusted excess profits
net income, those with excess profits credit based on income are in the
minority both as to number of returns and amount of excess profits
net income. A summary of the results obtained from this classifica-
tion follows:
[Money figures in thousands of dollars]
Method of credit computation <
Number
of returns
Excess
profits net
income '
Excess
profits
credit <
Excess
profits credit
carry-over »
Adjusted ex-
cess profits
net income
or deficit '
(-)
Excess
profits
tax«
Returns with adjusted excess profits net income '
Invested capital method
19, 493
18, 769
9,224
9,545
3, 760, 067
7, 537, 917
4, 483, 141
3, 054, 776
1, 466, 663
3, 387, 540
1, 931, 657
1, 455, 883
209, 056
81, 623
40, 249
41, 375
1,997,301
3, 990, 693
• 2, 474, 835
1, 515, 858
1, 049, 779
2, 171, 841
General average
Increased earnings
1, 367, 625
804, 217
Total
38, 262
11,297,985
4, 854, 203
290, 679
5, 987, 994
3, 221, 621
Returns with no adjusted excess profits net income '
Invested capital method
28,306
16, 789
7,366
9,423
2, 324, 410
908, 072
405, 910
502, 161
3, 694, 481
1, 089, 417
483, 104
606, 312
1, 722, 961
256, 118
120, 331
135, 787
—3, 234, 563
—521, 408
—234, 355
—287, 053
Income method
General average
Increased earnings
Total
45, 095
3, 232, 481 4. 783. 898
1, 979, 079
—3, 755, 971
For footnotes, see p. 31.
DATA FROM INCOME TAX RETURNS SHOWING EXCESS PROFITS TAX
DEDUCTION
To supplement the information obtained from corporation excess
profits tax returns, Form 1121, there are presented, in tables 15 and
16, compilations of the basic tax data reported on income and de-
clared value excess-profits tax returns, Form 1120, by corporations
with excess profits tax liability. The returns used for this purpose
were selected from those filed for the calendar year 1941 and fiscal
years ending in the period January through June 1942, and were
identified by means of the excess profits tax deduction allowed in
the computation of normal tax net income.
For returns with balance sheets, a classification by major industrial
groups is provided in table 15 and a classification by size of total
assets is shown in table 16. In both instances the data tabulated
include the number of returns, items of assets and liabilities as of the
close of the taxable year, itemized receipts and deductions, compiled
STATISTICS OF INCOME FOR 1941, PART 2
27
net profit, net income, each, type of income and profits tax, and
dividends paid.
The industrial classification discloses that 43.6 percent of the re-
turns and 80.4 percent of the excess profits tax are accounted for by
the manufacturing industry. Corporations engaged in trade rank
next highest with 35.5 percent of the returns and 10.4 percent of the
tax. The distribution by industrial divisions is as follows:
Industry i'
Number
of
returns
Excess
profits tax
(thousands
of dollars)
Percentage
distribution
Returns
Tax
Mining and quarrying
Manufacturing
Public utilities
Trade -.-.
Service
Finance, insurance, real estate, and lessors of real property
Construction
Agriculture, forestry, and fishery
Total classified
Not classified
Grand total
745
16, 533
1,914
13, 486
1,472
2,042
1,395
364
36, 981
, 562, 507
161, 161
333, 065
14, 953
39, 013
37, 306
3,647
37, 951
947
3, 188, 633
35, 247
2.0
43.6
5.0
35.5
3.9
5.4
3.7
1.0
100.0
38, 898
3, 223, 880
1.2
80.4
5.1
10.4
.5
1.2
1.2
.1
100.0
For footnote, see p. 31.
Returns with total assets of $1,000,000 and over, while representing
only 16.8 percent of the total number of returns with balance sheets,
account for 88.8 percent of the excess profits tax. The distribution
by total assets classes is shown below:
Total assets classes >'
(Thousands of dollars)
Number
of
returns
Excess
profits tax
(thousands
of dollars)
Percentage
distribution
Returns
Tax
Under 50
50 under 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
To tal classified
Balance sheets not available
Grand total
3,813
5,902
10, 577
6,738
4,615
4,773
757
662
108
109
5,289
16, 545
67,627
106, 201
162, 225
531, 294
322, 071
695, 596
324, 577
958, 293
10.0
15.5
27.8
17.7
12.1
12.5
2.0
1.7
.3
.3
0.2
.5
2.1
3.3
5.1
16.7
10.1
21.8
10.2
30.0
38, 054
844
3, 189, 719
34,160
100.0
100.0
38, 898
3, 223, 880
For footnote, see p. 31.
The net income reported on returns showing an excess profits tax
deduction amounts to $11,631,663,121, while the combined normal
tax and surtax is $2,424,093,459, the declared value excess-profits tax
is $54,795,056, and the excess profits tax reported as a deduction is
$3,223,879,943. Thus the aggregate amount of income and excess
profits taxes is $5,702,768,458, or approximatelj" one-half of the net
income.
28
STATISTICS OF INCOME FOR 1941, PART 2
The portion of net income absorbed by income and excess profits
taxes varies from a low of 33.1 percent for corporations with total
assets under $50,000 to a high of 53.3 percent for corporations with
total assets between $5,000,000 and $10,000,000. The net income,
income tax, and excess profits taxes, by total assets classes, are as
follows:
[Money figures and assets classes in thousands of dollars]
Total assets classes "
Net income
Income tax
Declared
value ex-
cess-profits
tax
Excess
profits tax
Total income and
excess profits taxes
Amount
Percent
of 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
Balance sheets not available
Total
42, 897
109, 775
367, 352
484, 104
653, 189
1, 898, 716
990, 758
2, 239, 204
1, 103, 414
3, 607, 753
134, 501
8,169
21,234
78, 153
109, 584
146, 318
408, 157
200, 200
460, 960
227, 721
736, 582
27, 014
740
1,660
4,439
5,191
6, 431
13, 762
5,626
10, 177
2,088
3,665
1,016
5,289
16, 545
67,627
106, 201
162, 225
531, 294
322, 071
695, 596
324, 577
958, 293
34, 160
14, 197
39, 438
150, 220
220, 977
314, 974
953, 214
527, 898
1, 166, 732
554,- 387
1, 698, 540
62, 191
33.1
35.9
40.9
45.6
48.2
50.2
53.3
52.1
50.2
47.1
46,2
11, 631, 663
2, 424, 094
54, 795
3, 223, 880
5, 702, 768
49.0
For footnote, see p. 31.
EXCESS PROFITS CREDIT CARRY-OVER
The excess profits tax returns for taxable years beginning in 1941 are
the first returns in which the excess profits credit carry-over is effective
as a credit against excess profits net income in the computation of
excess profits tax. The carry-over which becomes available for 1941
consists of the unused excess profits credit for the taxable year begin-
ning in 1940, i. e., the excess of the excess profits credit over the ex-
cess profits net income for such taxable year, computed under the law
applicable to taxable years beginning in 1941.
Among returns with adjusted excess profits net income there are
10,200 returns showing excess profits credit carry-over in aggregate
amount of $290,679,407. Among the returns with no adjusted ex-
cess profits net income there are 6,291 returns on which the excess
profits credit carry-over is effective in eliminating the income subject
to tax. The latter group of returns shows credit carry-over totaling
$309,109,875, of which $120,570,805 is applied against excess profits
net income to make the returns nontaxable. Basic table 14, pages
248-249, contains additional data tabulated from the taxable and non-
taxable returns on wliich the credit carry-over is cft'ective and shows
the distribution of such returns by adjusted excess profits net income
or deficit classes and by method of credit computation.
STATISTICS OF INCOME FOR 1941, PART 2
29
The total excess profits credit carry-over reported on returns with
no adjusted excess profits net income is $1,979,079,200. It should be
noted, however, that this figure understates the total amount available,
by reason of the fact that the credit carry-over is frequently omitted
from returns in which the specific exemption and excess profits credit
together equal or exceed the excess profits net income.
CONSOLIDATED RETURNS
A total of 697 affiliated groups of corporations filed consolidated
excess profits tax returns for the calendar year 1941 and fiscal years
ending in the period January through June 1942. Of this number,
243 returns, representing 1,831 parent and subsidiary concerns, show
an excess profits tax of $491,636,017 and 454 returns, representing
4,137 parent and subsidiary concerns, show no excess profits tax.
Of the 243 returns with adjusted excess profits net income, 148
show excess profits credit computed on the basis of invested capital
and 95 on the basis of income. Of the 454 returns with no adjusted
excess profits net income, 366 show excess profits credit based on in-
vested capital and 88 based on income. Data from the consolidated
returns are included in all the tabulations pertaining to Form 1121
throughout this report and are presented separately in basic tables
12 and 13, pages 244-247.
RETURNS FILED UNDER 1940 LAW
The excess profits tax returns for fiscal years ending in the period
July through November 1941 are filed under the law provisions in
effect for 1940. For this reason these returns are excluded from
basic tables 10-14, inclusive, and from the preceding text tables with
the exception of the summary table on page 23. This group of
returns numbers 8,292, of which 4,150 are taxable returns showing
excess profits net income of $774,531,665, adjusted excess profits net
income of $346,870,450, and excess profits tax of $140,913,129. On the
4,142 nontaxable returns, there is reported excess profits net income
of $205,387,602 and adjusted excess profits deficit of $124,251,455.
The following table shows the distribution of the taxable returns
according to highest rate applicable:
Highest rate applicable (percent)
Nu^nber of
returns
Excess profits
tax 6
(thousands
of dollars)
Percentage distribution
Returns
Tax
25
2,588
650
332
337
128
115
4,211
5,561
7,227
18, 121
17, 307
88, 486
62.36
15.66
8.00
8.12
3.09
2.77
2 99
30
3 95
35 .-_ . .
5 13
40
12 86
45
12 28
50 :
62 79
Total
4,150
140, 913
100. 00
100 GO
For footnote, see p. 31.
589783—45-
30
STATISTICS OF INCOME FOR 1941, PART 2
The number of returns and normal-tax net income are shown below
by normal- tax net income classes for returns with adjusted excess
profits net income and with no adjusted excess profits net income:
[Normal-tax net income classes and money figures in thoasands of dollars]
Normal-tax net income classes ^
All returns
Number
of returns
Normal-tax
net income'
Returns with adjusted
excess profits net
income ^
Number
of returns
Normal-tax
net income'
Returns with no ad-
justed excess profits
net income '
Number
of retiuns
Normal-tax
net income '
Under 20___
20imder 50
sounder 100
100 under 2,50...
250 under 500 ..
SOOunder 1,000. -
1,000 under 5,000
5,000 and over...
Deficits
Total
3,796
1,914
908
788
318
209
188
25
116
40, 894
69,602
64. 218
123, 467
123, 255
146, 592
367, 615
341, 038
» 4, 985
1,078
1,143
671
617
290
173
152
21
5
14. 413
36, 348
48, 046
97, 973
102, 240
121, 622
298, 533
291,016
•155
2,718
771
237
171
58
36
36
4
111
26, 481
23, 255
16, 172
25, 494
21,015
24, 970
69, 081
50, 022
» 4, 830
8.292
101,261,696
4,150
i" 1,010, 037
4,142
1» 251, 659
For footnotes, see p. 31.
In the following table the returns filed under the 1940 law are
classified according to the method of credit computation, for returns
with adjusted excess profits net income and returns with ho adjusted
excess profits net income, and there are shown the number of returns,
excess profits net income, excess profits credit, adjusted excess profits
net income or deficit, and excess profits tax.
[Money figures in thousands of dollars]
Method of credit computation <
Number
of returns
Excess
profits net
income '
Excess
profits
credit *
Adjusted
excess
profits net
income or
deficits (-)
Excess
profits
tax*
Returns with adjusted excess profits net income '
Invested capital method
Income method
General average
Increased earnings...
Total...
Invested capital method
Income method
General average
Increased earnings...
Total
1,964
2,186
634
1,552
4,150
330, 316
444, 216
122, 173
322, 043
774,532
177, 428
230, 168
62, 619
167, 549
407, 596
143, 808
203, 062
56, 151
146, 911
58,283
82, 630
22, 747
59,883
346, 870 140, 913
Returns with no adjusted excess profits net income '
2,320
1,822
626
1,196
4,142
110,992
94, 395
28, 320
66, 075
205, 388
181. 583
127. 346
33, 503
93, 843
308, 929
-82, 191
-42, 060
-8,312
-33, 748
-124,251
For footnotes, see p. 31.
STATISTICS OF INCOME FOR 1941, PART 2
31
Footnotes for text tables, pages 23-30
[Facsimiles of return forms to which references are made appear on pp. 323-352]
1 No excess profits tax returns were filed for fiscal
years ending in period July through November 1940,
since the excess profits tax provisions are applicable
only to taxable years beginning after December 31,
1939.
' The adjusted excess profits net income or deficit
for returns with taxable year beginning in 1940 is the
excess profits net income less the sum of the specific
exemption- and excess profits credit. For returns
with taxable year beginning in 1941, there is allowed,
in addition, a carry-over of the unused excess profits
credit from the preceding taxable year (sec note 5).
In a part year return, the excess profits net income is
placed on an annual basis before makuig this compu-
tation; accordingly, the adjusted excess profits net
income shown for such a case is on an annual basis.
For returns with no adjusted excess profits net in-
come, filed under the 1941 law, the data are based in
part on an estimate as explained in text on page 24.
3 The excess profits net income or deficit for returns
with taxable year beginning in 1940 is obtained from
the normal-tax net income by making certain ad-
justments, consisting principally of the deduction
of income and income defense taxes for the taxable
year, and the exclusion of (1) dividends received
from domestic corporations (this adjustment refers
to that portion of dividends not deducted as divi-
dends received credit in computing normal-tax net
income), and (2) gains or losses from the sale or ex-
change of capital assets (depreciable or nondepre-
ciable) held for more than 18 months. For detailed
description of the adjustments, see note 36, page 315.
For returns with taxable years beginning in 1941, the
income tax is not deducted in arriving at excess
profits net income, instead, the excess profits tax is
allowed as a deduction in the computation of normal-
tax net income. (The starting point in the computa-
tion of excess profits net income for 1941 remains the
normal-tax net income computed without deduction
of excess profits tax.)
< The excess profits credit is a deduction from the
excess profits net income and is computed by one or
the other of the following methods:
(a) Under section 713 of the Code the credit is
based on income (schedule A, Form 1121), and for
domestic corporations is 95 percent of the average
base period net income plus 8 percent of net capital
additions or minus 6 percent of net capital reductions;
for foreign corporations this credit is 95 percent of the
average base period net income. The method based
on income permits the base period net income to be
determined on either a general average basis or on
increased earnings in the last half of the base period.
The base period, in general, begins after December
31, 1935, and ends with the close of the last taxable
year beginning before January 1, 1940.
(6) Under section 714 the credit is based on in-
vested capital (schedule B, Form 1121), and for
returns with taxable year beginning in 1940 is 8 per-
cent of invested capital for the taxable year. For
returns with taxable year beginning in 1941, if the
invested capital method is used, the excess profits
credit is reduced to 8 percent of invested capital not
in excess of $5,000,000 plus 7 percent of the invested
capital in excess of that amount.
» The excess profits credit carry-over, which is
reported for the first time on returns for taxable
years beginning in 1941, consists of the unused excess
profits credit, i. e., the excess of the excess profits
credit over the excess profits net income, for the
preceding taxable year, computed under law pro-
visions applicable to tax years beginning in 1941.
The credit carrj'-over shown is the total amount
reported; however, the amount shown for returns
with no adjusted excess profits net income under-
states the total amount available by reason of the
fact that the credit carry-over is frequently omitted
from returns in which the specific exemption and
excess profits credit together equal or exceed the
excess profits net income. For a tabulation of re-
turns on which the credit carry-over is effective, see
basic table 14, pages 248-249.
' "Excess profits tax" is the amount reported as
item 33, page 1, of Form 1121 for 1941 (item 32 for
1940). This is the amount after adjustment in case
of position inconsistent with prior income tax lia-
bility, but before any credit claimed for income tax
paid to a foreign country or United States possession.
' The classification by normal tax net income
classes is based on normal-tax net income as reported
on page 1, Form 1120, which is equal to tt tal income
less the sum of (1) total deductiors, (2) declared
value excess-profits tax, (3) partially tax-exempt
interest, to the extent such interest is included in
total income, (4) dividends received, credit, and (5)
for taxable years beginning in 194!, excess profits tax.
The amount tabulated as "Normal tax net income"
is obtained from item 1, Form 1121, and corresponds
to the amotmt described above except that, for tax-
able years beginning in 1941, the excess profits tax
has not been deducted.
8 Included in "Deficit" class are returns with
deductions equal to income.
» Deficit.
1" Net income less deficit.
>i The industrial classification is based on the
business activity reported on the return. When
multiple businesses are reported on a return, the
classification is determined by the business activity
which accounts for the largest percentage of total
receipts. Therefore, the industrial groups do not
reflect pure industry classifications. The industrial
groups are based on the Standard Industrial Classi-
fication, issued by the Division of Statistical Stand-
ards, Bureau of the Budget, Executive OflBce of the
President.
'2 Assets and liabilities are tabulated as of Decem-
ber 31, 1941, or close of fiscal year nearest thereto.
Total assets classes are based on the net amount of
total assets after reserves for depreciation, depletion,
amortization, and bad debts. Adjustments are
made in tabulating the data, as follows: (1) Reserves,
when shown under liabilities, are used to reduce
corresponding asset accounts, and "Total assets"
and "Total liabilities" are decreased by the amount
of such reserves, and (2) a deficit in surplus, shown
under assets, is transferred to liabilities, and "Total
assets" and "Total liabilities" are decreased by the
amount of the deficit.
32
STATISTICS OF INCOME FOR 1941, PART 2
PERSONAL HOLDING COMPANY RETURNS (FORM 1120H)
The total number of personal holding company returns, Form
1120H, for 1941 filed during the calendar year 1942 is 5,501. A sur-
tax liability of $1,001,707 is reported on 314 returns showing undis-
tributed subchapter A net income of $1,143,054, wliile 5,187 returns
show no undistributed subchapter A net income and are therefore
nontaxable. These figures compare with the data for 1940 as follows:
Personal holding company returns, 1941 and 1940
1941
1940
Increase or decrease
Number or
amount
Percent
Total number of returns
Returns with undistributed subchapter A net income:
Number
Undistributed subchapter A net income
Surtax liability
Returns with no undistributed subchapter A net income
5,501
314
$1, 143, 064
$1, 001, 707
5,187
5,730
300
, 476, 834
, 198, 476
5,430
—229
14
-$333, 780
-$196, 769
—243
—4.00
4.67
—22.60
—16. 42
—4.48
The data in this section are tabulated from personal holding com-
pany returns, Form 1120H, for the calendar year 1941, a fiscal year
ending in the period July 1941 through June 1942, and a part year
with the greater part of the accounting period in 1941. Data from
corporation income and declared value excess-profits tax returns,
Form 1120, filed by personal holding companies are not included in
this section but are included in all tabulations pertaining to Form 1120
throughout this report. Annual information returns, Form 958, re-
quired to be filed by each officer and director of foreign personal
holding companies defined in section 331 of the Internal Revenue
Code, are not included in tliis report.
Personal holding company returns, Form 1120H, are filed under
the provisions of subchapter A, chapter 2 of the Internal Revenue
Code, which levies a surtax at graduated rates on the undistributed
subchapter A net income of corporations classified as personal hold-
ing companies. The surtax thereby imposed is in addition to the
corporation income and declared value excess-profits taxes reported
on Form 1120. Personal holding companies are exempt from the
surtax levied by section 102 of the Code on corporations improperl}^
accumulating surplus and are likewise exempt from the corporation
excess profits tax imposed under section 710 of the Code.
The personal holding company surtax rates for taxable years
beginning after December 31, 1940, arc 71}^ percent of the undis-
tributed subchapter A net income not in excess of $2,000, and 82}^
percent of the amount thereof in excess of $2,000. These rates are
equivalent to the combined surtax and surtax defense tax rates in
effect for 1940, the rates for 1941 having been changed only to the
extent of incorporating the defense tax in the surtax, A comparison
of prior year rates is shown in note 39, page 315.
STATISTICS OF INCOME FOR 1941, PART 2 33
In section 501 of the Code, a personal holding company is defined,
in general, as any corporation if (1) at least 80 percent of its gross
income for the taxable year is personal holding company income;
but if the corporation is a personal holding company for any taxable
year beginning after December 31, 1936, then, for each subsequent
taxable year, the minimum percentage is 70 percent in lieu of 80
percent, until a taxable year during the whole of the last half of
which the stock ownership required in (2) does not exist, or until the
expiration of three consecutive taxable years in each of which less
than 70 percent of the gross income is personal holding company
income; and (2) at any time during 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 corpora-
tion exempt from taxation under section 101; a domestic bank or
trust company, a substantial part of the business of which consists
of receiving deposits and making loans and discounts or exercising
fiduciary powers ; a life insurance company ; a surety company ; a foreign
personal holding company (as defined in section 331); a licensed per-
sonal finance company under State supervision, at least 80 percent of
the gross income of which is lawful interest received from individuals
each of whose indebtedness to such company did not at any time
during the taxable year exceed $300 in principal amount, if such
interest is not payable in advance or compounded and is computed
only on unpaid balances; and a foreign corporation if (a) its gross
income from sources within the United States for the three previous
consecutive years has been less than 50 percent of its total gross
income from all sources and (b) all of its stock outstanding during the
last half of the taxable year is owned by nonresident alien individuals,
whether directly or indirectly through other foreign corporations.
Personal holding company income, which enters into the foregoing
classification, is defined in section 502 of the Code as the portion of
gross income which consists of: (a) Dividends, interest (other than
interest constituting rent under (g)), royalties (other than mineral, oU,
or gas royalties), and annuities; (6) gains from stock and security
transactions, except in the case of regular dealers; (c) gains from com-
modities 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 con-
stituting 50 percent or more of the gross income; and (h) mineral, oU,
or gas royalties, unless such royalties constitute 50 percent or more
of the gross income, and unless the deductions allowable for expenses
under section 23(a) (other than compensation for personal services
rendered by shareholders) constitute 15 percent or more of the gross
income. For further explanation of and exceptions pertaining to the
above items, see instruction (A) for Form 1 120H, facsimile on page 351.
The subchapter A net income, computed as the first step in the
determination of personal holding company surtax liability, includes
personal holding company income and other income as well. It is
obtained from the net income for income tax computation (item 36,
34 STATISTICS OF INCOME FOR 1941, PART 2
page 1, Form 1120) by making the following adjustments, described
here in the order of computation on the face of Form 1120H:
A. Capital gain and loss adjustments —
In place of the net long-term capital gain or loss and the net
short-term capital gain used in computing chapter 1 net mcome,
there is substituted the net capital gain or loss computed without
regard to length of time for which the assets were held but with
losses allowed only to the extent of $2,000 plus the gains.
B. Deductions not allowed —
(1) Expenses and depreciation which are allocable to the
operation and maintenance of property owned or operated by the
personal holding company, and which are allowed as deductions
under chapter 1 of the Code, are disallowed for purposes of
chapter 2, subchapter A, to the extent that they exceed the rent
or other compensation received for the use of the property.
For exceptions to this provision, see instruction 7, Form 1120H,
facsimile on page 352.
(2) The net operating loss deduction (allowed in the computa-
tion of chapter 1 net income) is not allowed in computing sub-
chapter A net income.
C. Additional deductions —
(1) Federal income, war-profits, and excess-profits taxes, as
well as income and profits taxes paid to a foreign country or
United States possession, are deductible to the extent not al-
lowed m computing chapter 1 net income. This provision does
not apply to surtax on corporations improperly accumulating
surplus or to surtax on personal holding companies.
(2) In lieu of contributions or gifts deducted in computing
chapter 1 net income, there is substituted a deduction for con-
tributions or gifts made within the taxable year in an amount
not in excess of 15 percent of the taxpayer's net income, such
net income being computed under the provisions of chapter 1
without a deduction for contributions or gifts and adjusted to
the extent described in A and B(l), above.
(3) Amounts paid in liquidation of liability of the corporation
based on liability of a decedent to make contributions or gifts
are also deducted in arriving at the subchapter A net income.
Undistributed subchapter A net income is derived from the sub-
chapter A net income by deducting (a) the amount of dividends paid
credit provided in section 27(a) (1) and (2), computed without the
benefit of the credit for interest on certain Government obligations,
(6) amounts used or irrevocably sot aside to pay or to retire indebted-
ness of any kind incurred prior to January 1, 1934, if such amounts
are reasonable with reference to the size and terms of such indebted-
ness, and (c) dividends paid after the close of the taxable year and
before the 15th of the third month following the close of the taxable
year. Amounts deductible under (a) and (c) are computed as pro-
vided in section 504 (a) and (c). See instruction (I), Form 1120H,
facsimile on page 351.
STATISTICS OF INCOME FOR 1941, PART 2
35
The two tables which follow are based on returns as filed, prior to
revisions that may be made as a result of audit by the Bureau of
Internal Revenue. The first table shows the number of returns with
subchapter A net income, classified by size of subchapter A net income,
while the second table shows the principal items reported for the
computation of the surtax.
Personal holding company returns, 1941, with subchapter A net income, by sub-
chapter A net income classes and by returns with undistributed subchapter A net
income and returns with no undistributed subchapter A net income: Number of
returns
Number of returns with subchapter
A net income
Subchapter A net income classes
(Thousands of dollars)
Total
With un-
distribu-
ted sub-
chapter A
net income
With no
xmdistrib-
uted sub-
chapter A
net income
Under 5 -
1,255
434
589
396
325
317
30
20
2
183
30
37
20
14
26
4
1,072
5 under 10 --
404
10 under 25 - - -
552
25 under 50 ---
376
50 under 100
311
100 under 500 --
291
500 under 1,000
26
1,000 under 5,000 -
20
2
Total
3,368
314
3,054
36
STATISTICS OF INCOME FOR 1941, PART 2
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STATISTICS OF INCOME FOR 1941, PART 2 37
HISTORICAL DATA
CORPORATION INCOME AND PROFITS TAX RETURNS
Section 21 of the Revenue Act of 1916 provided for the preparation
and publication annually of statistics with respect to the operation
of the Federal income tax law. Classifications of taxpayers and of
income, amounts allowed as deductions and exemptions, and any
other facts deemed pertinent and valuable are required. The infor-
mation for 1916 and subsequent years in this report is from "Statis-
tics of Income," published annually in accordance with section 21
of the 1916 Act and similar provisions in subsequent Federal tax
laws. The information for 1909 through 1915 is from the reports of
the Commissioner of Internal Revenue.
Summaries of data from corporation income and profits tax returns
for the years 1909-41, showing the number of returns and amount
of gross income, net income, deficit, tax, items of receipts, deductions,
assets, liabilities, and dividends paid, are presented in aggregate, and
by (1) States and Territories, (2) net income and deficit classes, and
(3) industrial groups, for returns with net income and for returns
with no net income, where applicable. Some items are not shown
for all years or for all classifications. The paragraphs below sum-
marize the years, the classifications, and the items covered by each
historical table. Descriptions of the classifications and of the items
will be found in footnotes as indicated on each table. There is in-
cluded a summary of the returns of corporations which filed on a
consolidated basis for income tax purposes, for the years 1928-41.
The factors affecting the comparability of historical data are dis-
cussed on pages 38-40, and a synopsis of corporation income and
profits tax rates, credits, and other provisions of the Federal tax laws
affecting the historical data in this report appears on pages 306-321.
Table 17, page 270, presents, for 1909-41, the number of returns
and amount of gross income, net income or deficit, income tax, ex:cess
profits taxes, total tax, and for 1922-41, dividends paid segregated
as to those paid in cash and assets other than the corporation's own
stock, and those paid in the corporation's own stock. These items are
shown for returns with net income and for returns with no net income,
where appHcable. The total number of returns includes the returns of
inactive corporations. For 1909-26 the number of returns of inactive
corporations is not available, being included in the number of returns
with no net income; for 1927-41 the number of returns of inactive
corporations may be determined by deducting the sum of the returns
with net income and the returns with no net income from the total
number of returns.
Table 18, page 271, shows, for the years 1938-41, by net income
and deficit classes, the number of returns and the amount of net
income or deficit.
In table 19, pages 272-273, composite data for returns with net
income and with no net income are shown for each of the years
1926-41. The items tabulated consist of the number of returns,
detailed receipts and deductions, compiled net profit or net loss, net
income or deficit, net operating loss deduction, and dividends paid
segregated as to those paid in cash and assets other than the corpo-
ration's own stock, and those paid in the corporation's own stock.
38 STATISTICS OF INCOME FOR 1941, PART 2
It should be noted that the figures in this table are in millions of
dollars; also that the number of returns for 1926 includes the returns
of inactive corporations.
In table 20, pages 274-275, the data are from returns with balance
sheets and, as in table 19, are presented in composite form for returns
with net income and returns with no net income. For each of the
years 1926-41, itemized assets and liabilities are shown, and, for
1931-41, itemized receipts and deductions, compiled net profit or
net loss, net income or deficit, and net operating loss deduction. It
should be noted that the figures in this table are in millions of dollars;
also that the number of returns for 1926 includes returns of inactive
corporations reporting complete balance sheet information.
Table 21 shows by industrial groups, and table 22 by States and
Territories, for 1932-41, for returns with net income and for returns
with no net income, the number of returns, and amount of gross
income, net income or deficit, and, where applicable, income tax,
excess profits taxes, and total tax. In both tables the number of
returns of inactive corporations may be determined by deducting the
sum of the number of returns with net income and the number of
returns with no net income from the total number of returns. In
table 21 the industrial groups for 1938-41 have been adjusted to
correspond, in so far as possible, to the major groups in Statistics of
Income for 1931 through 1937, by the method described in note 53,
page 298. The factors affecting the comparability, over a period of
years, of data classified industrially, are discussed on pages 39-40,
and charts showing the industrial groups in which changes occur
between 1941 and 1940 appear on pages 300-303. A discussion of the
comparability of data distributed geographically appears on page
39.
Table 23, page 293, presents a summary of the consolidated cor-
poration returns for 1928-41, filed for income tax purposes. This
table shows the number of consolidated returns and the number of
subsidiaries. For returns with net income there are shown the num-
ber of returns, total compiled receipts, ret income, net operating loss
deduction, and income tax; for returns with no net income there are
shown the number of returns, total compiled receipts, and deficit. A
synopsis of the requirements for filing consolidated returns and the
tax rates applicable to such returns for the years 1917-41 appears on
pages 317-321.
COMPARABILITY OF mSTORICAL DATA
Returns included. — The data in each volume of Statistics of Income,
beginning with the first, which was compiled from returns for 1916,
are from returns for the calendar year indicated, for fiscal years end-
ing within the period July of the calendar year through June of the
succeeding year, and for part years with the greater number of
months of the accounting period falling within the calendar year.
While the returns included in each report arc those filed for com-
parable periods of time, there are factors which interfere with the
precise comparability of the data over a period of years, among
which are the following:
Contents oj items. — Changes in provisions of the Federal tax laws
frequently affect the contents of items on the returns and, in conse-
STATISTICS OF INCOME FOR 1941, PART 2 39
quence, the classifications based on sucli items, thereby resulting in a
certain nonhomogeneity of the data over the period of years. For
example: Under provisions of the Revenue Act of 1936, "Net income"
for 1936 and subsequent years includes dividends from domestic
corporations and excludes "Contributions." These changes affect
gross income, deductions, compiled receipts, compiled deductions,
compiled net profit, deficit, and tax liability, as well as the number of
returns classified "With net income" and "With no net income."
Therefore, in comparing the data for 1936 and subsequent years
with that tabulated for prior years, consideration should be given to
these developments. Changes in the contents of the items also re-
sult from shifts in the industrial classification which are described below.
The basic variations are explained in footnotes indicated on the
tabulations which are affected.
The items in general, for 1934 and subsequent years, are not pre-
cisely comparable with those for 1917-33, by reason ^ of the dis-
continuance, under the Revenue Act of 1934, of the privilege of filing
consolidated income tax returns (except by railroad corporations and
their related holding and leasing companies and, for 1940 and 1941,
Pan-American trade corporations) and the consequent appearance,
in the separate returns filed by corporations formerly included in an
affiliated group, of items which, owing to "intercompany elimina-
tions," did not appear on the consolidated return.
Geographic distribution. — The distribution by States and Territories
is not strictly comparable from year to year by reason of the variation
in corporate capital structure. Through transfer of ownership,
separate returns may be filed for each concern of an affiliated group of
companies which formerly filed on a consolidated basis. Since the
law requires a corporation return to be filed in the collection district
in which is located the principal place of business or principal office
of the corporation making the return, the separate returns of the
formerly affihated companies may or may not be filed in the same
State as that in which the consolidated return was filed. Vice versa,
companies which have been filing separate returns may lose their
identity through having been merged into the corporate structure of
a parent company as branches or departments, and therefore discon-
tinue filing separate returns.
Industrial classification. — A corporation is classified industrially
according to the business reported on the return. When diversified
activities are reported, the classification is determined by the industry
wliich accounts for the largest percentage of receipts. Therefore,
industrial groups may contain data for activities other than those
on which the classifications are based. The data by mdustrial
classification for 1934 and subsequent years are not strictly com-
parable with such data for prior years, due to the general discontinu-
ance, under the Revenue Act of 1934, of the privilege of filing con-
solidated returns for income tax purposes. Prior to 1934, a con-
solidated return was classified on the predominant activity of the
group of affiliated concerns, whereas, for 1934 and subsequent years,
the separate return filed by each concern which was formerly a part
of an affiliated group is classified on its predominant industry. Con-
solidated returns were permitted to be filed for 1934 and subsequent
years by groups of affiliated common carriers by railroad and their
40 STATISTICS OF INCOME FOR 1941, PART 2
related holding or leasing companies (including electric railways after
1935, and trackless trolley and bus systems after 1937) and, for 1940
and 1941, by Pan-American trade corporations.
As a result of the initial application of the Standard Industrial
Classification to the corporation returns for 1938, the number of iu-
dustrial groups, for purposes of Statistics of Income for 1938, was
increased over the number of groups for 1937, and certain changes
were made in the contents of the groups m order to adapt the Standard
Classification, which is designed on an establishment basis, to cor-
poration returns which are filed on an ownership basis, A comparison
of the 1938 and 1937 industrial groups appears in Statistics of Income
for 1938, Part 2, pages 243-273. The classification for 1939 is the
same as that for 1938. Charts showing the changes in industrial
classification between 1940 and 1939 are shown on pages 310-314 of
the 1940 report, and the changes between 1941 and 1940 are shown in
this report on pages 300-303.
SOURCE BOOK OF STATISTICS OF INCOME
The Source Book is a series of unpublished volumes containing de-
tailed tables of financial information from income tax returns, sup-
plementing the published reports, Statistics of Income. The Source
Book volumes are maintained in the Statistical Section, Income Tax
Unit, Bureau of Internal Revenue, and are available for research
purposes to officials of the Federal and State Governments and to
qualified representatives of accredited organizations upon the presen-
tation of a written request addressed to the Commissioner of Internal
Revenue.
The corporation data in the Source Book are from the returns for
1926-40. It is planned to transcribe into the Source Book the in-
formation tabulated from the returns for 1941. The data are tabu-
lated for (1) all returns and (2) returns with balance sheets. For the
years 1932-34, tabulations of data from consolidated returns are also
shown.
For all returns, with and without balance sheets (excluding returns
of inactive corporations), the data pertain to the number of returns,
items of receipts and deductions, total compiled receipts, total com-
piled deductions, compiled net profit or net loss, net income or deficit,
net loss for prior year, 1926-32; net operating loss deduction, 1940;
each type of income and profits tax in effect, total tax, compiled net
profit less total tax, cash dividends paid, and stock dividends paid.
These items are shown in aggregate for the United States, for returns
with net income and for returns with no net income, classified by
(1) major and minor industrial groups, and (2) minor industrial
groups cross-classified by States and Territories, 1926-37, and major
industrial groups so classified, 1938-40. For all returns, there is an
additional series of tabulations in which the major industrial groups
are cross-classified by net income and deficit classes, showing the
number of returns, net income or deficit, each type of income and
profits tax in effect, and total tax.
For returns with balance sheets (excluding returns of inactive cor-
porations), the information in the Source Book pertains to the number
of returns, items of assets and liabilities, total assets, and total liabili-
ties, in aggregate for the United States, for returns with net income,
STATISTICS OF INCOME FOR 1941, PART 2 41
and for returns with no net income, by major industrial groups for
1926-29, and by major and minor industrial groups for 1930-40.
Within each minor industrial group for 1931-37, and each major
industrial group for 1938-40, the data are cross-classified by States
and Territories. For each major industrial group, 1931-40, a further
classification by size of total assets is also included, showing, in addi-
tion to the balance sheet data, the same items of receipts, deductions,
etc., for returns with balance sheets as are listed at the beginning of
the preceding paragraph describing data available for all returns.
A considerable number of corporations filing consolidated returns
for 1932 and 1933 were denied this privilege for taxable years beginning
after December 31, 1933, by section 141 of the Revenue Act of 1934,
which limited the filing of consolidated returns to common carriers by
railroad and their related holding and leasing companies. To show
the effect of this provision on the comparability of data from returns
for 1934 with corresponding items from returns for prior years, there
are included in the Source Book, four tabulations of data from returns
of active corporations (with and without balance sheets) for 1932,
1933, and 1934, as follows: (1) Consolidated returns for 1932 and
1933, tabulated separately, (2) returns not consolidated for 1933, (3)
returns for 1934 of corporations for which consolidated returns were
filed for 1933, and (4) returns for 1934 of corporations for which con-
solidated returns were not filed for 1933. The returns in each of the
four tabulations are classified by minor industrial groups, within each
of which a segregation is made as to returns with net income and
returns with no net income. The items shown for each tabulation
are those listed for all returns; for the returns with balance sheets,
there are shown the items listed for returns with balance sheets in
the preceding paragraph. An additional compilation prepared from
the 1934 returns of corporations filing consolidated returns for 1933
(No. 3 of the four tabulations) shows the same classifications and
items as for the four tabulations described above except that the
industrial classification for each 1934 return is based on the predomi-
nant industrial activity shown on the corresponding 1933 consolidated
return.
CORPORATION INCOME
AND
DECLARED VALUE EXCESS-PROFITS
TAX RETURNS
BASIC TABLES
All returns
1 . States and Territories, general summary.
2. Major and minor industrial groups, general summary.
3. Major industrial groups (Receipts and deductions).
Returns with balance sheets
4. Major industrial groups (Assets and liabilities, receipts and de-
ductions).
5. Total assets classes (Assets and liabilities, receipts and deduc-
tions).
6. Total assets classes and major industrial groups (Selected assets,
liabilities, and receipts).
All returns
7. Net income and deficit classes and type of tax liability.
8. Net income and deficit classes (Dividends received and interest
received on Government obligations).
9. Net income and deficit classes (Dividends paid).
43
44
STATISTICS OF INCOME FOR 1941, PART 2
Table 1. — Corporation returns, 1941, hy States and Territories, for returns with
receipts, net income or deficit, and dividends paid in cash and assets other than
value excess-profits tax, and excess profits tax
[Money figures in
States and Territories '
Total
number
of
returns 2
Returns with net income '
Number
of
returns
Total
compiled
receipts *
Net
income •
Taxes
Total tax
Normal
tax s
Alabama
Alaska.
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 ,
3,323
278
1,341
2,403
23, 606
4,820
9,335
3,110
2,667
9,381
5,425
799
1,820
34, 298
12, 038
6,979
4,116
4,654
5,901
3,570
6,032
23, 973
15,035
9,664
2,425
14, 020
2,374
4,052
897
1,492
29, 086
935
123, 801
6,238
1,986
24, 267
4,909
4,547
23, 987
3,425
3, 397
2,063
4,706
14,951
2,486
1,199
7,044
9,979
4,650
14,451
1,131
2,084
126
669
1,533
11. 546
2,161
5,305
1,788
1,662
4,255
3,460
608
738
18, 940
6,845
4,001
2,539
2,899
3,263
1,779
3,357
13, 577
8,832
5,002
1,421
7,816
1,167
2,208
356
869
12, 632
504
53, 703
4,276
1,014
15, 180
2,463
2,302
13, 168
1,911
2,009
1,037
3,029
8,198
1,214
631
4, 601
4,715
2,836
7,753
646
885, 189
16, 518
170, 081
385, 392
8, 181, 474
668, 175
3, 519, 083
2, 202, 915
917, 830
915, 716
1, 476, 310
390, 544
174, 506
19, 053, 243
2, 838, 513
1, 367, 973
997, 934
1,398,155
1, 208, 443
614,416
1, 979, 769
7, 473, 173
12, 287, 498
2, 807, 083
362, 166
4, 694, 820
217, 262
660, 994
333, 190
302, 842
5, 251, 092
81, 780
44.061,392
2, 192, 231
125, 764
12, 491, 470
1,402,406
803, 654
14, 679, 595
1, 167, 112
792, 714
128, 154
1, 350, 093
4,090,311
337, 525
212, 066
1, 729, 780
1, 617, 294
930, 591
3, 172, 472
63,119
90, 943
2,329
11, 623
31,676
849, 312
73, 769
491, 587
604, 452
92, 615
72,711
129, 944
54, 796
18, 340
1, 479, 489
292, 884
83, 447
88, 769
132, 979
115,735
59, 313
208, 602
675, 476
1, 325, 949
204, 527
24, 632
417, 057
18,667
49,740
12, 754
25, 766
620, 782
5,908
4, 909, 081
220, 594
5,436
1, 332, 522
116, 695
68, 642
1, 530, 575
125, 137
86, 123
6,228
109, 271
369, 480
30, 695
25, 059
217,0,55
183, 320
89, 026
312, 230
7,352
39, 263
764
3,716
10, 857
338, 870
25, 239
254,411
204, 822
27, 721
22, 767
47, 937
18, 636
6,247
605, 257
124, 937
26, 747
28,996
49, 214
38. 445
20, 116
70, 312
266, 266
629, 998
70, 829
8,350
155, 509
5,670
17, 415
3,609
10, 147
244, 830
1,651
, 749, 169
81, 423
1,473
624, 494
36, 610
27, 846
660, 219
54, 298
39, 173
1,693
41,561
110, 658
9,760
11,190
84, 487
76,856
33, 1 13
142, 433
1,899
16, 790
410
2,138
6,123
146, 674
13, 892
70, 917
74, 664
17, 405
12, 765
24, 981
9,142
3,537
252, 836
53, 527
15, 486
17, 786
25, 209
20, 617
11, 159
33, 861
112, 772
215,405
37, 572
4,531
75,015
3,635
9,241
2,132
4,557
92, 551
1,024
746. 703
42, 424
863
217, 267
23, 362
11,497
243, 210
20, 714
15, 667
1,047
20,296
69, 704
5,674
3,408
38, 940
28,602
15, 506
63, 146
1,185
Total.
509. 066
264, 628
175, 181, 820
18,111,095
7, 167, 902
2, 947, 568
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
45
net income and returns with no net income: Number of returns, total compiled
own stock; also, for returns with net income: Total tax, normal tax, surtax, declared
thousands of dollars]
Eeturns with net income '—Continued
Returns with nc
net income
3
Taxes— Continued
Dividends
Dividends
Surtax 8
Declared
value
excess-
profits
tax
Excess
profits
tax'
paid in cash
and assets
other than
own stock 8
Number of
returns
Total
compiled
receipts *
Deficit 3
paid in cash
and assets
other than
own stock 8
3,559
515
18, 399
19, 525
1,045
46, 174
3,542
654
1
122
18
214
538
107
2,677
413
158
2
611
62
905
4,049
483
35, 138
2,201
167
3
1,629
256
2,850
8,149
687
30, 793
2.202
403
4
38, 161
2,835
151, 200
329, 680
9,081
770, 795
99. 810
19, 463
5
3,992
216
7,139
34, 609
2,016
138,040
15, 575
639
6
19, 843
2,292
161, 359
109, 722
3,455
453, 822
20, 742
1,946
7
21, 369
283
108, 505
325, 093
1,016
67. 243
32, 098
5.383
8
5,009
259
5,048
34. 337
827
71, 329
5,240
3,815
9
3,520
377
6,106
28,722
4,237
179, 968
20, 159
603
10
5,866
637
16, 453
47, 747
1,710
95, 744
6,380
979
11
2,702
163
6,628
27, 651
172
49, 690
1,278
190
12
950
77
1,683
9,598
536
18,019
1,520
358
13
63, 460
5,920
283, 041
479, 785
12, 298
1, 157, 336
138, 125
7,096
14
11,496
1,236
58. 677
73, 549
3,710
191.561
21. 736
911
15
3,794
377
7,090
26, 779
2,163
136, 902
16, 048
1,646
16
4,929
253
6,028
29, 797
1,350
76, 410
5.501
1,129
17
7,212
440
16, 353
51, 629
1,478
80, 727
6,365
951
18
5,231
489
12, 107
47, 826
2,178
104, 903
9,499
1,778
19
2,790
267
5,900
20, 476
1,459
77, 374
8,961
559
20
9,596
808
20, 046
74, 615
2.056
146, 704
22, 223
2,227
21
30, 023
3,566
119,904
229, 885
9,434
831, 368
133, 767
11,237
22
57, 922
5,131
351, 540
415, 567
4,834
391, 564
52. 891
5,596
23
9,838
744
22, 675
69, 086
3,364
259, 515
27, 183
1,147
24
1,013
178
2,627
6,725
849
34, 052
3,538
556
25
19, 294
1,579
59, 621
149, 113
4,954
365, 593
30,207
3,807
26
1,092
61
881
7,578
942
30, 371
3,515
454
27
2,706
299
5,169
20,305
1,426
88, 862
15. 516
335
28
652
36
790
6,471
346
10, 970
1,704
122
29
1,202
74
4,314
8, 833
583
37, 601
2,517
882
30
24, 815
1,840
125, 624
220, 934
14, 522
940, 340
89, 514
16, 042
31
321
26
280
1, 939
326
12, 403
1.134
68
32
214, 389
14, 462
773, 615
2, 107, 792
63, 829
5,017,224
570, 089
45, 088
33
10, 257
675
28, 067
62, 395
1,733
86. 491
5,679
615
34
284
81
245
1,369
678
21. 653
1,447
108
35
55, 690
4,450
347, 087
353, 644
7,839
601, 155
124, 084
7,471
36
6,611
201
6,436
58,311
2,056
129. 364
18. 267
3,264
37
3.261
434
12, 654
15,431
1,675
77. 372
7,806
1,454
38
69, 747
6,136
341, 127
469, 345
8,805
985. 203
110,110
15,902
39
5,486
586
27, 512
32, 996
1,278
73, 106
5,345
924
40
2,884
293
20,329
12, 181
1,150
44,898
2,455
115
41
341
48
258
2,238
794
18, 766
936
110
42
6,313
607
15, 346
30. 106
1,424
100, 458
8.566
1,179
43
19,204
1,067
20, 683
207. 208
5.499
377, 969
39. 900
6,163
44
1,569
90
2,427
14, 092
887
49, 458
3,467
112
45
988
118
6,677
5,128
517
28,506
3,237
518
46
10, 774
724
34, 050
64, 001
2,091
186. 513
17, 478
2,143
47
7,914
679
39, 661
52. 304
3,346
126.833
15, 583
1,819
48
4,505
348
12, 756
29, 881
1, 502
82, 262
7,399
1,122
49
12, 685
1,811
74, 792
76, 421
5,162
296, 395
34, 563
3,106
50
377
28
309
3,024
369
12, 581
1,034
95
51
797,000
64, 149
3, 359, 186
6, 518, 177
204, 278
15, 250, 197
1, 778, 553
182, 610
589783—45-
46
STATISTICS OF INCOME FOR 1941, PART 2
Table 2. — Corporation returns, 1941, by major industrial groups and minor in
of returns, total compiled receipts, net income or deficit, and dividends paid in
normal tax, surtax, declared value 'excess-profits tax, and excess profits tax
[Money fignres in
Major industrial groups and minor
industrial groups •
Total
num-
ber of
returns'
All industrial groups.
Mining and quarrying
Metal mining
Iron
Copper
Lead and zinc...
Gold and silver
Other metal mining
Metal mining not allocable. _
Anthracite mining
Bituminous coal, lignite, peat,
etc.
Crude petroleum and natural gas
production.
Crude petroleum, natural
gas, and natural gasoline
production.
Field service operations
Nonmetallic mining and quarry-
ing.
Stone, sand, and gravel
Other nonmetallic mining
and quarrying.
Nonmetallic mining and
quarrying not allocable.
Mining and quarrying not
allocable.
Manufacturing
Food and kindred products
Bakery products
Confectionery
Canning fruits, vegetables,
and sea foods.
Meat products
Grain mill products, except
cereal preparations.
Cereal preparations
Dairy products
Sugar
Other food, including ice
and flavoring syrups.
Food and kindred products
not allocable.
Beverages
Malt liquors and malt
Distilled, rectified, and
blended liquors.
Wine.. -
Nonalcoholic beverages
Beverages not allocable
Tobacco manufactures
Cotton manufactures
Textile-mill products, except
cotton.
Woolen and worsted manu-
factures, including dyeing
and finishing.
Rayon and silk manu-
factures.
Knit goods.
Hats, except cloth and
millinery.
Carpets and other floor
coverings.
Dyeing and finishing tex-
tiles, except woolen and
worsted.
Other textile-mill products
Textile-mill products, except
cotton, not allocable.
For footnotes, see pp. 234-236.
509, 066
12, 175
2,351
114
97
269
1,226
198
457
158
1,890
5,114
4,469
645
1,718
1,365
330
23
Returns with net income »
Num-
ber of
returns
264, 628
4,388
335
31
21
55
139
51
38
72
859
2,134
1,885
249
960
790
160
Total
compiled
receipts *
175, 181, 820
3, 110, 359
1, 067, 920
244, 197
465, 479
154, 792
98, 338
59, 803
45, 310
166, 564
871, 404
674, 382
579, 904
94, 478
326, 269
225, 189
98, 707
944
28
87, 166
10, 082
1,763
597
1,490
58,042
6,220
918
376
1,031
982
1,103
678
769
64
1,760
161
1,825
26
1,036
132
1,058
337
196
3,092
564
327
1,908
296
152
159
1,999
43
264
794
4,045
87
1,352
21
137
717
2,992
502
420
463
317
1,292
335
917
207
119
86
534
398
434
366
366
281
2,373
3,819
Net
income '
Taxes
18, 111, 095
450, 123
214, 210
14, 046
130, 297
23, 316
22, 239
17, 353
6,959
9,437
56,831
117, 375
106, 730
10, 644
51, 915
32, 201
19, 481
234
355
90,335,521 10,601,366
12, 851. 221 660, 150
915, 018
459, 196
1, 264, 147
5, 370, 261
1, 261, 614
126, 227
1, 443, 574
813, 597
865, 773
331,815
2, 109, 982
954, 356
659, 791
47, 287
433, 571
14, 977
1,564,765
1,946,400
3, 945, 494
1, 104, 644
519, 784
814, 002
136, 155
306, 558
344, 667
367, 672
352, 012
51, 989
48, 368
134, 226
67, 398
50, 511
16, 442
61, 137
65, 752
128, 112
36, 215
204, 161
88, 510
44,062
4.051
66, 520
1,017
166, 640
214, 618
356, 163
96, 460
51,039
62, 574
7,290
39, 409
33,041
37, 625
28,825
Total
tax
7, 167, 902
144, 232
69,942
4,329
41, 692
9,559
6,749
5,721
1,891
2,133
19, 065
32, 870
29, 401
3,470
20, 130
12,589
7,485
67
91
4, 945, 848
232, 546
17, 460
19, 668
54,349
16, 358
2, 947, 568
81,842
37, 234
1,965
20, 729
4,155
4,943
3,991
1,451
1,333
10, 199
17, 486
10, 378
4,860
20, 178
20, 093
49, 837
3,894
12, 762
13, 083
23, 998
12, 359
7,169
71, 618
30, 947
15, 074
42, 397
18, 945
8,980
1,693
23, 636
369
62, 722
91,913
153, 444
724
13,585
163
34. 606
40, 760
63, 556
44, 488
17, 157
22,258
9, 156
23, 472
2,393
11, 030
1,537
19, 504
6,478
13, 951
6,037
15, 685
11, 693
6,905
5,256
STATISTICS OF INCX)ME FOR 1941, PART 2
47
dustrial groups, for returns with net income and returns with no net income: Number
cash and assets other than own stock; also, for returns with net income: Total tax,
thousands of dollars]
Returns with net
income 3— Continued
Returns with no net income '
Taxes — C ontinued
Dividends
paid in
cash
and assets
other than
own stock 8
Number
of returns
Total
compiled
receipts *
Deficit 3
Dividends
paid in
cash
and assets
other than
own stock '
1^
Surtax*
Declared
value
excess-
profits tax
Excess
profits
tax'
a
m
797,000
23, 173
10, 791
548
6,045
1,206
1,411
1,160
421
393
2,804
64, 149
368
45
4
CO
3, 359, 186
38, 849
21, 873
1,813
14, 918
4,199
391
533
19
402
5,959
6, 518, 177
308, 208
145, 484
6,829
81, 006
16, 544
18, 119
14, 635
8,350
4,030
17. 955
204, 278
5,279
955
45
34
79
531
84
182
73
863
15, 250, 197
789, 146
80, 799
39, 934
5,686
4,232
17, 578
6,113
7,255
97. 550
336, 343
1, 778, 553
71, 272
12, 212
209
1,361
1,466
5,154
2,238
1,783
3,562
14, 180
182,610
13, 612
2,134
601
6
329
154
1,137
8
155
2,716
1
2
3
4
37
(14)
5
103
4
5
6
7
8
6,509
•36
2,825
117,415
2,548
232, 841
36, 350
8, 452
6,040
12
2,041
115, 607
2,224
185, 684
32, 653
7,993
9
470
2,656
24
179
784
7,784
1,807
23, 275
324
645
47, 157
34, 550
3,698
3,971
458
153
10
1,598
1,049
162
16
5,094
2,675
8,184
15,017
510
129
30, 765
3,234
3,094
863
125
28
11
12
9
19
1
(")
15
7
74
49
6
195
551
7,064
14
996
13
2
14
444,862
31,281
3,131
2,566
5,356
42, 695
2,046
29
146
958
2, 702, 957
69, 932
3.400
7,477
23,751
2,815,318
271, 483
29, 229
20, 630
35, 256
26, 389
3,546
788
209
382
3, 106, 549
665, 700
134, 198
23, 005
38, 752
171, 951
21,239
4,406
1,162
2,238
20,189
2,017
124
23
208
15
16
17
1,326
2,790
93
461
1,487
3,857
30, 610
15, 886
274
300
179,584
66, 983
3,161
1,538
26
530
18
19
830
3,697
3,377
6,314
1
131
83
97
134
3,597
3,551
19,428
10, 267
21, 522
30, 528
60, 635
33
679
29
728
3,317
127, 215
8,312
63,229
123
2,261
1,631
4,109
20
" "i52'
21
22
634'
23
1,894
45
3,251
16, 919
124
21, 105
610
320
24
9,332
4,715
1,452
313
31
95
19, 577
7,257
4,547
69, 385
32, 255
11, 874
984
218
69
156, 228
93, 591
22, 304
10, 954
6,714
843
214
104
54
25
26
178
2,940
47
10, 105
6,323
14, 993
43
133
12
8
673
2,742
748
6.877
148
18, 003
44, 157
72, 153
606
24, 560
90
94, 639
41,112
67, 613
64
614
19
117
67
972
5,034
32.524
2,775
19, 193
19, 961
161, 465
526
2,709
163
1,187
2,065
9,067
36
15
5
158
485
2,218
27
28
29
30
31
4,073
555
22, 702
14, 551
73
20,385
1,512
('«)
32
2,218
360
10,524
10,515
134
40, 577
1,685
82
33
2, 805
170
1,828
702
15
401
8,935
672
10, 797
10, 473
1,510
8,371
3,53
123
27
52, 962
11,341
1,897
3,264
266
82
175
34
35
1
36
1,411
261
6,242
5,657
130
20,331
1,526
1,473
37
1,282
1,205
226
222
7,272
5,009
10, 318
6,319
60
72
5,479
8,493
420
312
471
15
38
39
48
STATISTICS OF INCOME FOR 1941, PART 2
Table 2. — Corporation returns, 1941, by major industrial groups and minor in
of returns, total compiled receipts, net income or deficit, and dividends paid in
normal tax, surtax, declared value excess-profits tax, and excess profits tax —
[Money figures in
Major industrial groups and minor
industrial groups »
Total
num-
ber of
returns 2
Returns with net income '
Num-
ber of
returns
Total
compiled
receipts <
Net
income '
Taxes
Total
tax
Manufacturing— Continued.
Apparel and products made from
fabrics.
Men's clothing
Women's clothing
Fur garments and accessories
Millinery
Other apparel and products
made from fabrics.
Apparel and products made
from fabrics not allocable.
Leather and products
Leather, tanned, curried,
and finished.
Footwear, except rubber
Other leather products
Leather and products not
allocable. .
Rubber products
Tires and inner tubes
Other rubber products, in-
cluding rubberized fabrics
and clothing.
Lumber and timber basic prod-
ucts.
Logging camps and sawmills .
Planing mills
Furniture and finished lumber
products.
Furniture (wood and metal).
Partitions and fixtures.
"Wooden containers . _ _
M atches
Other finished lumber prod-
ucts, including cork prod-
ucts.
Furniture and finished lum-
ber products not allocable.
Paper and allied products
Pulp, paper, and paperboard.
Pulp goods and converted
paper products.
Paper and allied products
not allocable.
Printing and publishing indus-
tries.
Newspapers
Periodicals
Books and music
Commercial printing
Other printing and pub-
lishing.
Printing and publishing in-
dustries not allocable.
Chemicals and allied products..
Paints, varnishes, and colors.
Soap and glycerin
Drugs, toilet preparations,
etc.
Rayon (raw material) and
allied products.
Fertilizers
Oils, animal and vegetable,
except lubricants and cook-
ing oils.
Plastic materials
Industrial chemicals
Other chemical products
Chemicals and allied prod-
ucts not allocable.
For footnotes, see pp. 234-236.
1,796
3,731
767
411
1,727
444
2,103
330
995
751
27
548
62
496
2,761
1,937
814
4,323
1,931
420
520
19
1,320
113
2,229
437
1,767
25
11,448
2,584
960
799
3,369
1,737
1,999
6,872
928
203
2,607
300
272
93
663
1,179
721
5,791
1,366
2,417
382
192
1,154
281
1,562
273
570
21
419
43
376
1,924
1,316
608
3,003
1,467
234
383
12
846
1,892
384
1,494
14
6,201
1,443
481
383
2,038
996
860
4,227
706
121
1,235
218
188
66
519
740
3, 064, 042
1, 137, 676
1, 122, 243
84, 541
40, 407
557, 272
121, 906
1,663,345
494, 098
944, 690
201, 229
13, 329
1, 678, 794
1,306,676
372,118
1, 445, 143
1, 086, 261
368, 882
1, 704, 135
877, 900
66, 105
216, 676
59, 369'
416, 780
67, 304
2, 755, 348
1, 383, 383
1, 350, 346
21, 620
2, 226, 476
802, 771
302, 606
176, 287
568, 902
218, 964
156, 947
6, 384, 061
834, 956
609, 022
778, 688
141, 667
203, 368
510, 614
118,129
2, 249, 478
467, 947
480, 503
134, 024
60,683
32, 816
1,285
684
33, 215
5,341
94,632
37, 209
46, 384
9,621
1,418
153, 378
111, 684
41, 695
167, 320
135, 386
31, 936
142, 863
76, 389
4,594
16, 686
4,838
36, 264
6,192
355, 896
204, 869
149, 969
1,068
214, 593
99, 650
29, 899
16, 169
42, 906
17, 869
9,100
1,027,932
68, 126
61,176
142, 651
29,093
18, 670
32, 261
21,954
516, 251
68, 279
79, 571
49, 311
22, 702
10, 929
286
117
13, 398
1,878
32, 195
15, 252
13, 041
3,229
672
64, 640
46, 216
18, 425
71, 166
56, 668
14, 498
58, 244
31, 695
1,633
6,246
1,730
13, 786
3,164
169, 809
98, 430
70, 758
621
69, 697
30, 697
11,039
4,329
14, 947
5,886
2,700
465, 109
26, 138
15, 322
57, 819
13, 697
6,362
13,284
12, 066
246,316
34, 044
40, 061
STATISTICS OF INCX)ME FOR 1941, PART 2
49
dustrial groups, for returns with net income and returns with no net income: Number
cash and assets other than own stock; also, for returns with net income: Total tax.
Continued
thousands of dollars]
Returns with, net
income 3— Continued
Returns with no net income ^
Taxes— Continued
Dividends
paid in
cash
and assets
other than
own stock *
Number
of returns
Total
compiled
receipts *
Deficit '
Dividends
paid in
cash
and assets
other than
own stock 8
Surtax «
Declared
value
excess-
profits tax
Excess
profits
tax'
5,148
1,090
18, 862
24, 095
2,980
305, 157
8,146
272
2,205
1,341
68
22
1,345
451
245
5
2
343
8,807
3,635
26
15
5,726
11,909
4,693
101
77
6,844
417
1,270
372
218
554
48, 836
157, 249
34, 477
17,944
33, 670
1,778
3,844
782
388
991
26
57
8
180
40
41
42
43
44
167
2,818
1,478
45
799
462
652
9,857
6,273
472
27, 935
8.086
149
523
54
12, 982
124, 363
27, 253
364
5,044
1,559
45
647
580
46
826
447
66
5,560
3,978
1,581
105
85
147
397
172
221
2,262
1,097
225
30,287
21,177
9,111
17, 602
1,877
370
35, 862
28,624
7,238
286
177
6
119
8
111
83, 423
13, 368
319
16, 748
2,388
14, 360
3,102
372
11
3,055
137
2,919
67
47
48
49
394
50
' "394'
51
7,732
815
33, 462
51,601
717
81,351
7,482
3,511
6,326
1,406
5,994
638
178
1,243
25, 775
7,688
25, 579
46,098
5,503
30, 418
526
191
1,237
61,021
20, 330
95, 665
6,589
892
5,646
3,507
4
133
52
53
2,924
211
691
298
1,611
795
37
69
37
160
14,619
562
2,534
381
5,635
13,111
703
3,234
2,349
10, 270
443
180
123
5
445
39, 943
10, 640
13, 272
423
28, 742
2,724
382
678
17
1,722
89
54
55
33"
56
57
...
68
259
15,519
8,789
6,685
145
1,490
553
937
1,860
92, 866
54,828
37, 618
752
91,391
58, 052
33, 094
41
311
49
255
2,644
50,315
22, 724
25,874
124
3,974
2,634
1,149
59
26
1
25
60
61
45
(H)
420
245
7
1,717
191
1
62
11,475
375
16, 929
88, 503
4,930
393, 470
23,697
1,201
5,553
1,605
717
2,234
841
96
38
17
137
41
5,862
3,797
510
4,634
1,756
49, 554
13, 578
6,173
11,860
5,084
1,091
457
377
1,296
716
130, 769
59, 409
35, 299
72, 594
38,911
8,968
4,242
2,038
2,969
2,379
371
22
528
52
87
63
64
65
66
67
525
46
370
2,254
993
56,488
3,100
141
68
45,548
2,035
3,318
7,525
1,985
283
11
267
247, Oil
10, 372
595
23, 247
336, 940
19, 362
20, 140
58, 309
2,361
195
71
1,161
129, 343
10,604
3,821
40, 419
11,642
805
413
3,914
883
13
69
70
291'
71
1,558
6,875
10, 882
72
922
1,418
212
145
1,554
5,575
5,659
7,507
73
80
6,165
21, 324
497
831
26
68
73
74
942
21, 563
2,979
3,287
267
346
231
222
7,530
147, 366
19,802
24, 095
4,201
177,569
14, 552
18, 760
22
117
396
246
1,360
13, 589
24,535
7,526
184
2,314
1,821
861
75
"" 12"
464
21
76
77
78
50
STATISTICS OF INCOME FOR 1941, PART 2
Table 2. — Corporation returns, 1941, by major industrial groups and minor in
of returns, total compiled receipts, net income or deficit, and dividends paid in
normal tax, surtax, declared value excess-profits tax, and excess profits tax —
|Mone7 figures in
Total
Returns with net income s
1
Taxes
•a
3
Major industrial groups and minor
industrial groups •
num-
ber of
Num-
Total
Net
a
returns^
ber of
compiled
1
returns
receipts <
income '
Total
Normal
S
tax
tax«
Manufacturing— Continued.
Petroleum and coal products
665
412
6, 612, 904
656, 282
137, 092
88, 387
79
Petroleum refining
452
279
6, 248, 644
362, 915
522, 919
123, 197
82, 595
5,787
80
Other petroleum and coal
products.
Petroleum and coal products
211
131
33, 334
13, 887
81
2
2
1,344
29
7
5
not allocable.
Stone, clay, and glass products . . -
3,363
2,155
2, 213, 815
346, 059
159, 380
69, 948
82
Cut-stone products
465
204
28,637
253, 688
1,439
396
249
83
Structural clay products
801
515
30,204
12, 297
6,442
84
Pottery and porcelain prod-
ucts.
Glass and glass products
221
164
147, 451
14, 524
5,896
2,725
85
459
313
707, 939
101. 603
45, 684
17,913
86
Cement
105
88
277, 250
66; 812
21, 835
11, 521
87
Concrete and gypsum prod-
ucts, wallboard.
842
551
295, 421
39,498
17, 439
7,269
88
Abrasives and asbestos prod-
ucts.
Stone, clay, and glass prod-
394
285
489, 961
101, 027
65, 568
14, 630
89
76
35
13, 469
1,062
377
199
ucts, not allocable.
Iron, steel, and products
6,460
148
6,254
11,629,673
5, 165, 592
1, 540, 734
607, 058
795, 467
304, 735
240, 328
96, 517
90
Blast furnaces and rolling
mills.
Structural steel, fabricated;
128
91
844
688
506, 907
61, 044
31, 906
9,180
ornamental metal work.
92
Tin cans and other tinware..
84
68
520,323
53, 757
26, 404
9,675
93
Hand tools, cutlery, and
hardware.
782
606
522, 259
91, 738
47, 429
14, 333
94
Heating apparatus, except
electrical, and plumbers'
supplies.
1,255
907
1, 260, 956
160, 135
80, 076
25, 872
95
Other iron, steel, and prod-
ucts (not classified below) .
3,107
2,665
3, 437, 123
540, 076
293, 336
81,281
96
Iron, steel, and products not
allocable.
240
192
216, 613
26, 927
12, 672
4,470
Nonferrous metals and their
2,669
1,968
2, 834, 706
380, 769
189, 775
59, 997
products.
97
Nonferrous metal basic
products.
276
217
1, 199, 614
142, 033
71, 827
22, 765
98
Clocks and watches
93
69
140, 460
18, 668
8,679
3,389
99
Jewelry (except costume),
silverware, plated ware.
619
443
220, 871
20,405
8,818
3,630
100
Other manufactures of non-
ferrous metals and their al-
loys.
1,668
1,228
1, 084, 162
176, 186
88,870
26, 053
101
Nonferrous metals and prod-
ucts not allocable.
13
11
189, 610
23,577
11, 681
4,160
Electrical machinery and equip-
1,750
1,251
3, 720, 893
666, 424
367, 621
98, 356
ment.
102
Electrical equipment for
public utility, manufactur-
ing, mining, transportation
(except automotive), and
construction use.
635
528
1, 684, 640
356, 590
194, 623
53, 189
103
Automotive electrical equip-
ment.
94
68
156,611
25, 674
12, 984
4,082
104
Communication equipment
and phonographs.
398
272
948, 865
141,815
82, 190
19, 009
105
Electrical appliances
171
102
182,009
24,879
12,086
4,329
106
Other electrical machinery
and Cf|uipnient.
312
184
204, 992
23,836
11, 174
4,068
107
Electrical machinery and
equipment not allocable.
140
97
543, 877
94,629
54, 666
13, 679
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
51
dustrial groups, for returns with net income and returns with no net income: Number
cash and assets other than own stock; also, for returns with net income: Total tax,
Continued
thousands of dollars]
Returns with net
ncome 3— Continued
Returns with
ao net income '
Taxes— C ontinued
Dividends
paid in
cash
and assets
other than
own stock s
Number
of returns
Total
compiled
receipts *
Deficit '
Dividends
paid in
cash
and assets
other than
own stock 8
Surtax «
Declared
value
pxcess-
proflts tax
Excess
profits
tax'
a
25,440
23,963
1,475
288
92
196
22,976
16,547
6,430
288, 639
277,034
11,605
207
145
62
282, 737
270, 509
12, 228
6,154
5,196
958
4,826
4,826
79
80
2
16, 349
74
1,439
702
81
654
14
59
66
82, 429
58
5,357
2,402
107, 784
824
8,800
3,391
1,123
249
266
50
87,447
14, 898
25,920
3,642
8,568
2,024
2,670
343
645
468
14
27
82
83
84
5,005
3,304
1,605
112
56
60
22, 554
6,953
8,505
38, 647
23, 326
11,443
136
15
271
10, 145
6,030
12, 728
551
700
1,088
1
60
15
85
86
87
4,172
285
36, 472
21,153
99
11,423
905
71
88
47
2
128
200
37
2,660
288
89
65,400
27, 521
9,826
1,893
479, 903
179, 805
275,064
106, 737
1,066
15
122,896
679
8,293
414
X 1,425
580
90
2,533
676
19, 518
6,104
147
7,042
546
8
91
2,796
3,808
10
1,050
12, 922
28, 238
19, 807
20,920
13
154
484
36, 924
24
1,745
92
49i'
93
6,885
906
46, 412
32, 753
313
30, 052
2,725
26
94
20, 799
5,009
186, 247
84, 681
386
44,223
2,658
320
95
1,058
282
6,762
4,063
38
3,492
181
C*)
96
16, 682
1,075
112, 021
83, 721
637
58, 786
3,748
40
6,491
944
1,034
179
42, 392
4,281
3,950
36,808
5,045
5,782
44
26, 978
854
10,832
356
97
65
204
22
170
62
341
98
13'
99
6,999
568
55, 251
31, 574
400
20, 037
2,987
28
100
1,214
60
6,148
4,511
1
86
('*)
101
27, 591
1,756
239, 918
145, 991
443
32,807
3,593
20
15, 391
959
124, 983
77,288
99
7,276
515
8
102
1,076
6,298
28
7,798
7,900
25, 878
21
3,108
9,981
352
103
323
57, 560
108
1,171
2
104
1,215
1,188
184
143
6,357
5,776
37,444
8,117
6,483
20, 325
64
116
6,234
5,132
1,076
881
650
9
105
106
3,423
119
35
124
1
107
52
STATISTICS OF INCOME FOR 1941, PART 2
Table 2. — Corporation returns, 1941, by major industrial groups and minor in
of returns, total compiled receipts, net income or deficit, and dividends paid in
normal tax, surtax, declared value excess-profits tax, and excess profits tax —
[Money figures in
Total
Returns with net income 3
fe
Taxes
3
Major industrial groups and minor
industrial groups '
num-
ber of
Num-
Total
Net
5
returns 2
ber of
compiled
"3
returns
receipts *
incoiD,6 *
Total
Normal
1
tax
tax»
Manufacturing— Continued.
Machinery, except transporta-
5,972
4,622
7, 187, 568
1,323,063
699, 038
210, 819
tion equipment and electrical.
108
Special industry machinery.
1,176
881
724,472
109, 988
46,952
19, 998
109
General industry machinery.
1,647
1,278
1,529,453
275,321
151, 697
41, 150
110
Metal-working machinery,
including machine tools.
1,146
1,012
1,493,600
418, 436
258,937
56, 297
HI
Engines and turbines
99
73
322, 147
61, 137
33. 447
9,859
112
Construction and mining
machinery.
458
356
756, 978
127, 587
65,840
21,034
113
Agricultural machinery
326
214
996, 961
132, 100
49, 311
28, 335
114
Office and store machines
247
158
467, 591
80. 506
38,633
14, 149
115
Household and service-in-
dustry machines.
392
250
418, 141
43, 464
16,099
8,636
116
Machinery, except transpor-
tation equipment and elec-
trical, not allocable.
482
400
478, 225
74. 525
39, 121
11,360
Automobiles and equipment,
773
546
6, 542, 757
864, 547
439,780
133,366
except electrical.
117
Automobiles and trucks (m-
cluding bodies and indus-
trial trailers) and military
vehicles.
334
234
5,408.862
674, 724
333,617
104, 989
118
Automobile accessories,
parts (except electrical),
and passenger trailers.
423
302
1,122,677
187, 725
104, 757
28, 142
119
Automobiles and equip-
ment, except electrical,
not allocable.
16
10
11,219
2,099
1,406
236
Transportation equipment, ex-
927
673
3,885,433
726, 834
424, 548
106, 496
cept automobiles.
120
Railroad and railway equip-
ment.
112
81
796, 262
134,572
73, 798
20,049
121
Aircraft and parts
282
162
2, 007, 489
481.358
294, 145
67, 702
122
Ship and boat building
478
292
1, 024. 844
104,646
53, 868
17, 471
123
Motorcycles and bicycles
25
18
51, 149
5,555
2,429
1,166
124
Other transportation equip-
ment, except automobiles.
28
19
5, 397
685
305
116
125
Transportation equipment,
except automobiles, not al-
locable.
2
1
292
18
3
3
126
Other manufacturing
4,283
2, 669
1,557,331
215, 254
100, 688
35, 263
127
Manufacturing not allocable
2,887
1,599
822, 234
89, 028
40, 166
14, 639
Public utilities.
23,437
12, 985
14,175,762
2,081,267
706, 188
416, 604
Transportation
15, 449
8,587
8, 405. 941
912, 859
308, 661
171,259
128
Railroad, switching, termi-
nal, and passenger car
service companies.
753
410
5. 262, 079
464, 579
140, 609
84, 408
129
Railway express companies..
5
1
203
24
8
3
130
Railways, street, suburban,
and interurban, including
bus lines operated \n con-
junction therewith.
198
77
199, 690
11,644
2,906
2,126
131
Taxicab companies
672
1,775
324
1,029
70, 295
306, 279
4,158
50, 022
1,220
17,364
766
9,717
132
Other highway passenger
transportation.
Highway freight transporta-
133
7,824
4,478
846,964
55, 766
17,095
10, 180
tion, warehousing, and
storage.
Air transportation and al-
134
744
279
164,609
23, 567
8,553
5,024
lied services.
136
Pipe line transportation
217
163
293, 928
87, 416
29, 986
19, 666
136
Water transj)ortation
1,6.39
1,022
1,006,310
172, 060
74, 091
30,841
137
Services incidental to trans-
portation.
1.415
727
232, 380
41,692
16, 140
8,212
138
Transportation not allocable.
207
87
24, 203
1,933
589
316
For footnotes, sec pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
53
dustrial groups, for returns with net income and returns with no net income: Number
cash and assets other than own stock; also, for returns with net income: Total tax,
Continued
thoosands of dollars]
Returns with net
income 3— Continued
Returns with no net income '
Taxes— Continued
Dividends
paid in
cash
and assets
other than
own stock 8
Number
of returns
Total
compiled
receipts *
Deficit '
Dividends
paid in
cash
and assets
other than
own stock '
a
a
.2
Surtax •
Declared
value
excess- .
profits tax
Excess
profits
tax'
47, 748
6,865
433, 606
255, 420
1,177
85, 702
6,718
503
4,521
11,216
14, 427
859
1,523
2,417
20, 575
97,808
185, 796
31, 982
53, 896
49, 648
274
329
117
25, 944
17, 430
8,332
2,172
1,267
467
330
19
108
109
110
2,070
5, 256
661
570
20, 856
38, 979
5,620
24, 173
15
90
1,839
7,476
110
361
140
6
111
112
2,291
3,644
1,642
120
102
146
18, 565
20, 738
5,676
38,411
25, 060
17, 312
89
71
117
3,834
4,096
• 11, 668
387
643
841
113
--
(14)
114
115
2,681
36, 602
468
24, 612
9,317
257, 076
75
5,083
45, 071
471
116
3,195
266, 717
193
3,494
7
29, 990
775
197, 863
223, 066
91
36, 470
2,733
7
117
6,443
2,420
67, 753
33, 912
98
8,355
745
(»)
118
69
(H)
2,521
1,102
97
4
246
16
119
23, 752
291, 778
94, 177
277
44, 856
6,166
48
5,808
13, 116
4,628
168
33
1,282
46, 658
212, 591
31, 289
1,090
151
22, 973
25
9,966
583
120
736
481
16
6
56,824
12, 748
1,464
168
87
151
6
7
19, 326
14, 803
189
171
4,264
1,197
47
52
9
121
122
123
---
124
1,205
1,332
1,073
960
41
1
1,509
893
8,936
5,934
250
400
76, 575
50, 713
1, 772, 816
1, 560, 557
762, 576
22
7,232
4,790
154, 062
122, 415
49, 540
125
9,633
3,940
120, 172
48, 880
24,660
54,587
20, 345
167, 434
87, 462
31, 500
59, 476
16, 991
1, 076, 225
344, 541
148, 269
122
393
10, 407
4,848
154
126
127
128
1
618
4
161
20
4,208
3
80
135, 682
245, 156
2
36, 032
129
2
i,'840"
130
197-
2,778
15
73
242
4,795
1,145
17,647
301
692
20,909
35, 840
941
3,742
1
323
131
132
2,920
216
3,780
14, 079
3,028
176, 500
9,770
198
133
1,395
136
1,998
2,728
361
28,455
1,836
3
134
5,698
8,186
2,341
2
254
216
4,620
34, 810
5,371
76, 170
59, 457
20, 498
48
483
619
26, 434
79,448
46, 234
9,574
6,980
3,596
1,830
47
452
135
136
137
86
5
183
320
69
3,324
402
138
54
STATISTICS OF INCOME FOR 1941, PART 2
Table 2. — Corporation returns, 1941, hy major industrial groups and minor in
of returns, total compiled receipts, net income or deficit, and dividends paid in
normal tax, surtax, declared value excess-profits tax, and excess profits tax —
[Money fignres in
Major industrial groups and minor
industrial groups '
Public utilities— Continued.
Communication
Telephone (wire and radio) _.
Telegraph (wire and radio)
and cable.
Radio broadcasting and tele-
vision.
Other communication
Other public utilities
Electric light and power
Gas, distribution and manu-
facture.
Water
Public utilities not elsewhere
classified.
Other public utilities not
allocable.
Trade
Wholesale
Commission merchants
Other wholesalers
Food, including market
mUk dealers.
Alcoholic beverages
Apparel and dry goods. -
Chemicals, paints, and
drugs.
Hardware, electrical
goods, plumbing and
heating equipment.
Lumber and mill work. ..
Wholesalers, not else-
where classified.
Wholesalers, not allo-
cable.
Retail
General merchandise
Department, dry goods,
other general merchan-
dise.
Limited-price variety
stores.
Mail-order houses
Food stores, including mar-
ket milk dealers.
Package liquor stores
Drugstores
Apparel and accessories
Furniture and house furnish-
ings.
Eating and drinking places. .
Automotive dealers
Automobiles and trucks.
Accessories, parts, etc...
Filling stations
Hardware
Building materials, fuel, and
ice.
Other retail trade
Retail trade not allocable
Trade not allocable
Service
Hotels and other lodging places..
Personal service
Laundries, cleaners, and
dyers.
Photographic studios
Other personal service
Personal service not allocable.
For footnot«8, see pp. 234-236.
Total
num-
ber of
returns'
3,935
3,168
78
1
4,053
1,174
773
1,756
213
137
141,620
38.418
5,603
32, 815
6,649
1.373
3.023
1,583
2,822
1,150
13, 959
2,256
86, 120
6,559
6,940
372
247
7,116
1,803
5,368
11, 424
5,551
10, 376
IP, 588
9,606
982
2,685
2,688
8,524
8,287
5.151
17, 082
44, 046
6,210
9,342
6,006
676
3,745
16
Returns with net income '
Num-
ber of
returns
1,951
1,502
21
428
2,447
780
487
1.007
114
59
89, 475
27, 491
3.577
23, 914
4,421
2,329
1.054
2,321
923
10, 365
1,593
51, 444
4,469
4,127
222
120
3,088
900
2,605
7,298
3,886
3,853
7,658
7,012
646
1,409
1, 828
6,646
5,240
3, 565
10, 540
19, 111
2,212
4,525
2,827
238
1,456
4
Total
compiled
Receipts *
1, 668, 830
1, 347, 754
145, 970
175, 106
4, 100, 991
3, 148, 435
845, 137
85, 159
11,250
11,010
53, 252, 745
25. 917. 726
1, 196, 086
24, 721. 640
5, 053, 733
1,131,003
1. 728. 240
1. 258, 863
2. 236, 883
620, 509
11,227,523
1,464.886
23, 283, 283
6,915,029
5, 641, 967
1, 116, 037
157, 025
4, 388, 080
75. 121
585, 989
2, 130, 731
977, 145
567, 478
4, 176, 290
3, 853, 442
322, 848
318, 164
206, 257
1, 233, 428
1,017,865
691,717
4,051,736
3, 107, 176
396, 497
546, 324
436, 444
24, 076
84,317
1,487
Net
income '
318,366
271, 697
12, 671
33, 998
850, 042
686, 017
140, 075
20, 603
1,384
1,963
2, 222, 556
964, 185
79, 066
885, 119
115, 976
28, 852
82 572
61, 396
117, 799
24, 428
410, 309
53, 787
1, 061, 870
509, 767
402, 487
98, 907
8,373
87, 244
1,539
23, 789
104, 641
67, 673
22, 668
100, 447
78, 986
21,461
14, 905
9,722
62, 882
55, 171
21,524
196,501
259, 487
27, 197
29, 348
22, 993
1,169
6,107
79
Taxes
Total
tax
115,249
97, 147
4,428
13, 674
281, 373
227, 859
46, 362
6,172
413
566
863, 238
388, 950
31,713
357, 237
40, 710
34,375
20, 002
55, 443
9,220
169, 618
18, 981
405, 876
221, 263
176, 081
42, 144
3,029
29, 779
321
6,819
36, 797
19,019
6,117
37, 074
26,964
10,110
6,196
2,964
16, 232
19, 499
5,806
68,411
75, 596
7,371
7,826
6,275
304
1,218
29
STATISTICS OF INCOME FOR 1941, PART 2
55
dustrial groups, for returns with net income and returns with no net income: Number
cash and assets other than own stock; also, for returns with net income: Total tax,
Continued
thousands of dollars]
Returns with net
income ' — Continued
Returns with no net income '
Taxes— Continued
Dividends
paid in
cash
and assets
other than
own stock 8
Number
of returns
Total
compiled
receipts <
Deficit 3
Dividends
paid in
cash
and assets
other than
own stock 8
a
3
a
M
Surtax 6
Declared
value
excess-
profits tax
Excess
profits
tax'
19,000
16, 498
711
34
15
1
30, 770
24, 122
1,277
201, 445
181, 962
5,134
1,767
1,525
47
50, 116
15, 903
26, 330
7,048
1,886
4,135
406
304
100
139
140
1,792
18
5,371
14,348
• 195
7,884
1,027
2
141
142
"""52,292'
42, 484
8,355
40
20
49,' 262'
39, 460
8,991
530," 246'
429, 250
86,244
i,'235'
281
259
"""162," 143"
71,512
60, 511
24," 599'
13, 183
7,169
5,'i52'
2,365
911
143
144
1,251
81
10
6
676
51
12, 929
638
559
93
14, 888
14, 269
2,687
1,265
1,861
16
145
146
122
3
24
1,178
43
963
295
1
147
106, 122
42, 120
3,161
38,959
5,664
15, 058
9,500
380
9,120
945
347, 943
169,811
16, 072
153, 740
12,600
577, 490
216, 599
21, 634
194, 965
31, 493
49, 228
10, 141
1,909
8,232
2,087
4, 523, 671
1, 726, 122
161, 338
1, 564, 784
579, 869
142, 336
60, 663
3,890
56, 772
6,922
9,615
7,086
400
6,686
1,709
148
149
826
3,065
2,411
85
3,317
299
2,102
14,202
7,257
4,337
12, 249
14, 663
417
652
489
85, 896
52, 096
38, 621
1,647
2,176
1,566
46
52
32
150
151
152
5,382
1,325
29,317
20,235
455
78,056
28,844
3,426
163
1,026
18, 075
158
2,574
3,954
77, 569
4,697
90, 782
202
3,341
19, 367
584, 582
449
12, 924
7
1,400
154
155
2,510
417
6,738
16, 511
589
126, 298
2,244
14
156
53, 652
26, 597
20,466
4,147
1,187
826
158, 173
100,427
82,965
296, 192
158, 157
113, 183
33, 101
1,971
1,709
2, 308, 236
103, 419
95, 775
65, 678
5,533
4,776
2,011
294
294
167
6,667
341
16, 639
42, 200
139
4,204
236
168
464
4,941
20
114
823
7,480
2,774
38,099
123
3,822
3,440
506, 952
622
11,042
159
"258"
160
68
808
5,009
2,951
18
91
443
389
25
1,519
12, 976
5,301
114
7,995
21, 787
8,990
882
2,652
3,946
1,595
38, 252
113, 199
184,241
76,431
916
2,813
6,911
3,624
CO
63
56
43
161
162
163
164
1,033
4,713
3,688
1,025
824
462
2,615
91
514
445
69
36
129
420
966
15,728
10,282
5,446
1,622
869
3,037
7,221
18,923
14, 355
4,568
4,947
2,514
14,590
6,301
2,728
2,398
330
1,211
843
2,738
340, 169
414,583
398, 237
16, 346
61,036
25,144
211,249
11,033
5,103
4,468
636
1,312
1,068
6,763
70
169
164
6
34
21
699
165
166
167
168
169
170
2,568
1,062
10, 350
11,161
1,221
1,391
1,069
512
205
1,410
763
64
127
74
7,263
1,060
19, 959
16,788
1,425
1,362
, 1,196
8,703
4,153
64,699
96, 563
6,794
7,574
5,582
2,925
1,487
5,986
21,383
2,829
4,490
1,981
138, 748
94,812
489, 313
1,076,398
322, 794
185, 760
134, 578
6,976
2,694
16, 995
76,356
28,195
9,309
6,473
253
61
618
2,031
993
268
228
171
172
173
174
175
57
261
4
23
30
(»)
30
126
11
337
1,650
4
321
2,181
7
9,238
41, 796
149
544
2,282
g
1
39
176
177
178
56
STATISTICS OF INCOME FOR 1941, pART 2
Table 2. — Corporation returns, 1941, by major industrial groups and minor in
of returns, total compiled receipts, net income or deficit, and dividends paid in
normal tax, surtax, declared value excess-profits tax, and excess profits tax —
[Money figures in
Total
Returns
with net income '
fe
Ta:?es
X3
i
Major industrial groups and minor
num-
industrial groups «
ber of
Num-
Total
Net
income ^
a
returns '
ber of
compiled
'flfl
returns
receipts <
Total
Normal
tax
tax*
Service— Continued.
Business service
7,757
3,569
696, 259
54,919
17, 188
10,446
179
Advertising
2,044
1,050
374, 400
19, 838
6, 004
3,989
180
Other business service
5,691
2,510
319, 995
34, 373
10,994
6,371
181
Business service not allo-
cable.
22
9
1,863
708
191
86
182
Automotive repair services and
3,657
1,633
108,213
5,254
1,619
749
183
garages.
Miscellaneous repair services,
hand trades.
1,656
937
84, 731
6,852
2,561
1,074
Motion pictures
4,552
2,561
892, 317
94,496
24,546
17, 678
184
Motion-picture production..
696
198
385, 050
38, 543
9,164
7,009
185
Motion-picture theaters
3,956
2,363
507, 267
55, 953
15, 381
10, 669
186
Amusement, except motion pic-
tures.
5,533
2,032
209, 858
25, 153
8.897
4,510
187
Other service, including schools..
6,120
1,659
166, 350
15, 787
6,460
2,737
188
Service not allocable
219
83
7,628
481
129
82
Finance, insurance, real estate, and
153, 668
66, 304
7, 325, 262
2, 196, 636
323, 653
203, 601
lessors of real property.
Finance
39, 741
22, 926
4,044,916
1, 726, 436
210, 419
126. 846
189
Banks and trust companies-.
16, 819
11, 672
1, 698, 642
346, 111
51, 595
24,639
190
Long-term credit agencies,
mortgage companies, ex-
cept banks.
3,474
1,247
27, 229
6,648
1,340
988
Short-term credit agencies,
5,448
3,436
442, 512
142, 910
47, 257
27,963
except banks.
191
Sales finance and indus-
trial credit.
2,296
1,391
280, 982
96,147
33, 299
18, 763
192
Personal credit
2,248
295
1,557
153
146,000
3,271
43, 361
916
13, 135
215
8,578
193
Other short-term credit
158
agencies.
194
Short-term credit agen-
cies, except banks, not
allocable.
609
335
12, 259
2,486
608
464
Investment trusts and in-
3,991
2,322
218, 482
150, 819
7,402
6,687
vestment companies."
195
Management type
624
372
94,108
51,701
1,922
1,489
196
Fixed or semifixed type..
178
115
21, 980
20, 855
994
748
197
Installment investment
plans and guaranteed
face-amount certifi-
cates.
52
25
2,124
698
66
49
198
Mineral, oil, and gas roy-
alty companies.
153
87
2,132
1,098
315
226
199
Investment trusts and
investment companies
not allocable.
2,984
1,723
98, 138
76, 467
4,106
3,173
Other investment compan-
2,411
1,488
1, 418, 946
1, 020, 881
89, 395
68, 399
ies, including holding com-
200
panies.
Holding companies "
1,274
764
900, 200
706, 212
48,506
35, 777
201
Operating-holding com-
panies. 12
1,137
724
518, 746
314, 670
40, 889
22, 623
202
Security and commodity-ex-
change brokers and dealers.
1,847
824
139, 946
12, 646
2,604
1,837
203
Other finance companies
2, 083
657
00, 692
36, 528
8,341
5,439
204
Finanai not allocable
3,668
1.280
32. 467
10, 892
2,486
1,893
Insurance carriers,'' agents, etc..
8,590
4,490
1, 974, 048
183, 646
36, 561
23, 873
Insurance carriers 's
2,116
821
1, 778, 591
146, 687
25, 360
17,111
205
Life insurance com-
panies.
776
161
72, 607
6,755
1,190
848
206
Mutual insurance, ex-
cept life.
Other insurance carriers.
357
63
20, 987
1,416
156
103
207
983
597
1, 684, 997
138, 516
24, 014
16, 160
208
Insurance agents, brokers,
etc.
6,474
3,669
195, 457
36, 959
11,202
6,762
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
57
dustrial groups, for returns with net income and returns with no net income: Number
cash and assets other than own stock; also, for returns with net income: Total tax,
Continued
thousands of dollars]
Eeturns with net income s— Continued
Returns with no net income ^
Taxes— Continued
Dividends
paid in
cash
and assets
other than
own stock 8
Number
of returns
Total
compiled
receipts *
Deficit 3
Dividends
paid in
cash
and assets
other than
own stock '
a
3
el
"3
■§
M
Surtax 8
Declared
value
excess-
profits tax
Excess
profits
tax?
2,860
1,061
1,774
25
237
93
21
73
3,788
933
2,776
79
607
24, 548
9,812
14,487
250
739
3,643
855
2,775
13
2,020
150, 357
59, 194
91, 046
117
63, 183
8,842
2,346
6,486
10
2,365
167
104
63
179
180
181
26
21
182
319
120
1,049
952
685
13, 776
576
1
183
3,112
743
2,369
1,128
146
79
67
78
3,609
1,332
2,277
3,181
44, 160
16, 419
27, 741
7,904
1,789
320
1,469
2,911
173, 498
73, 448
100,050
67, 925
9,610
4,362
5,247
8,966
303
205
99
118
184
185
186
869
26
77, 928
103
5
1,274
1,751
16
40,850
3,714
177
1,575,419
2,e06
110
77, 190
96, 783
2,323
3,380,651
8,329
164
1, 083, 952
148
12
114, 036
187
188
53, 978
25, 232
304
658
293
12
28, 938
1,430
35
1,301,829
220,076
2,894
14,057
3,965
1,985
630,406
331,815
25, 544
431, 582
68, 833
21, 433
81, 999
21,267
631
189
190
7,573
67
11, 653
75, 771
1,669
21, 542
5,176
659
5,135
41
9,360
51, 756
758
12,099
2,222
306
191
2,283
50
19
2
2, 255
5
22,227
614
589
109
6,460
767
1,992
523
195
122
192
193
105
5
34
1,174
213
2,215
439
36
194
1,662
12
42
145,892
1,568
60, 047
68, 458
21,620
430
230
16
68
2
(14)
(14)
54, 333
18, 617
225
1,041
235
52
26
55
25, 264
8,889
14, 713
319
25, 766
6,713
973
196
14, 118
2,276
567
113
195
" "ie'
196
197
20
198
917
10
6
71, 675
1,200
10, 861
34, 810
4,546
199
IG, 709
179
14, 108
820, 578
863
90, 341
207, 324
29, 338
10, 149
6,560
109
70
2,472
11, 636
547, 685
272, 893
452
411
60, 018
30, 323
188, 505
18, 819
19, 786
9,552
200
201
465
19
283
8,140
936
73, 470
10,042
4,194
202
1,492
540
8,274
6,271
342
64
12
100
14
(")
1,345
41
4,314
1,964
17, 454
11,024
107, 116
89, 501
4,951
1,108
1,963
3,728
1,132
541
14, 660
12, 987
1, 756, 679
1, 718, 978
1, 195, 640
242, 561
33,020
17, 297
354, 461
352, 276
119, 621
2,762
1,528
16, 658
16, 422
9,922
203
204
205
52
(")
357
258
158, 733
534
206
5,876
2,004
13
87
1,964
2,349
84, 193
17, 615
333
2,596
280, 776
37, 701
73,923
2,185
6,966
235
207
208
58
STATISTICS OF INCOME FOR 1941, PART 2
Table 2. — Corporation returns, 1941, by major industrial groups and minor in
of returns, total compiled receipts, net income or deficit, and dividends paid in
normal tax, surtax, declared value excess-profits tax, and excess profits tax —
[Money figures in
Major industrial groups and minor
industrial groups «
Total
num-
ber of
returns'
Returns with net income '
e
•3
03
Num-
ber of
returns
Total
compiled
receipts *
Net
income '
Taxes
Total
tax
Normal
tax 8
209
210
211
212
213
214
216
216
217
218
Finance, insurance, etc.— Con.
Real estate, including lessors of
buildings.
Owner operators and lessors
of buildings.
Lessee operators of buildings-
Owners for improvement
Trading for own account
Real estate agents, brokers,
etc.
Title abstract companies
Real estate, including lessors
of buildings, not allocable.
Lessors of real property, except
buildings.
Agricultural, forest, etc.,
properties.
Mining, oil, etc., properties. .
Railroad properties
97,291
73, 964
2,208
5,773
2,833
3,207
1,378
7,938
8,046
1,420
3,174
339
235
2,534
344
16,012
6,888
8,671
553
8,413
7,527
549
337
22, 529
35, 861
29,009
825
1,605
823
1,464
703
1,432
3,027
487
1,669
204
112
641
114
8,203
3,567
4,514
122
3,944
3,593
202
149
2,176
1,085,116
824, 913
33, 769
91,487
12,711
61, 990
25, 478
44, 769
221, 182
7,004
90, 580
87, 588
25, 584
4,813
5,614
3,089,465
2,111,997
947, 338
30, 120
630, 777
586, 997
14,466
29,314
164, 763
171, 661
141,493
2,869
7,237
2,988
4,945
3,648
8,481
114,893
2,648
45, 678
52,090
10,279
2,037
2,261
199, 664
144, 830
62,983
1,761
81, 747
76, 775
2,807
2,165
18, 349
39,973
33, 266
635
1,729
630
1,167
928
1,618
36, 699
647
14, 819
16, 937
3,195
511
691
82, 067
60,069
21,329
669
22,945
21, 478
719
749
5,140
28,126
23,742
451
1,071
394
781
592
1,094
24,757
458
9,534
11,683
2,336
361
386
31, 923
23, 654
8, 145
224
14, 636
13, 685
480
371
2,830
219
220
221
Public utility properties
Other real property, except
buildings.
Lessors of real property, ex-
cept buildings, not allo-
cable.
Construction
9'>?
??3
224
??6
Ck)nstruction not allocable
Agriculture, forestry, and fishery
Agriculture and services...
??6
??7
228
Nature of business not allocable
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
59
dustrial groups, for returns with net income and returns with no net income: Number
cash and assets other than own stock; also, for returns with net income: Total tax,
Continued
thousands of dollars]
Returns with net
mcome 3— Continued
Returns with no net income ^
Taxes— Continued
Dividends
paid in
Dividends
paid in
X!
a
Total
compiled
receipts *
Declared
value
Excess
cash
and assets
Number
of returns
Deficit 3
cash
and assets
3
a
Surtax 6
profits
other than
other than
"S
excess-
profits tax
tax'
own stock 8
own stock 8
8,478
461
2,909
73, 102
55, 243
959, 156
267, 760
13, 534
7,130
283
2,112
61, 599
43, 590
774, 375
200, 664
10, 278
209
131
8
45
1,189
1,337
34, 356
4,311
63
210
308
44
305
1,619
3,455
79, 374
15, 979
617
211
126
25
84
1,449
1,689
12, 698
11, 300
1,687
212
251
27
108
1,254
1,529
19, 197
1,424
10
213
198
12
126
2,234
600
4,157
203
16
214
333
62
129
3,758
3,043
35, 000
33, 879
863
215
7,198
55
4,690
93, 372
4,162
34,411
30, 149
1,846
141
20
27
1,053
857
3,205
5,617
143
21«
2,741
18
2,526
47, 219
1,425
12, 384
9,364
1,250
217
3,403
7
1,844
36, 944
101
14, 454
5,294
293
218
683
(14)
176
5,398
106
1,930
2,865
132
219
114
5
31
1,066
1,498
1,724
6,548
19
220
115
4
86
1,693
175
713
460
8
221
8,695
2,213
39, 236
31,981
6,793
440, 479
21, 683
1,247
6,264
1,309
28,943
25, 363
2,770
269, 783
13, 782
1,027
222
2,361
882
9,941
6,544
3,803
162. 560
7,440
215
223
70
23
352
74
220
8,135
461
5
224
4,088
590
3,732
30, 855
3, 957
121,840
18, 624
1,371
3,845
517
3,430
28,805
3,505
110, 934
13, 491
481
225
137
13
88
1,621
294
5,755
4,473
890
226
106
59
213
429
158
5,151
660
(14)
227
799
115
1,396
6,119
5,123
38, 647
38, 317
10. 101
228
60
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PAKT I. ALL
[Money figures in
Major industrial groups »
All industrial
groups
Mining and quarrying
Total
mining
and quar-
rying
Metal
mining
Anthra-
cite
mining
Number of returns '»
Receipts:
Gross sales '^
Gross receipts from operations i'
Interest on Government obligations:
Wholly taxable '8
Subject to declared value excess-
profits tax and surtax."
Subject to surtax only 20...
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital as-
sets.2<
Dividends, domestic corporations 25.
Dividends, foreign corporations 26...
Other receipts 2?
Total compiled receipts <--.
Deductions:
Cost of goods sold 28
Cost of operations 28
Compensation of officers
Rent paid on business property
Repairs 29
Bad debts
Interest paid
Taxes paid '"
Contributions or gifts ^i
Depreciation
Depletion
Amortization ^2
Net long-term capital loss 23
Net loss, sales other than capital as-
sets.2<
Other deductions '^ -...
Total compiled deductions
Compiled net profit or net loss (15 less 31)
Net income or deficit 3 [32 less (6-1-7)] ...
Net operating loss deduction 3'.. -.
Normal tax '
Surtax 8
Declared value excess-profits tax
Excess profits tax '-.
Total tax.
Compiled net profit less total tax (32 less
39).
Dividends paid: '
Cash and assets other than own
stock.8
Corporation's own stock
468, 906
9,667
1,290
151, 325, 357
29, 379, 468
38, 340
467, 221
63, 110
279, 069
2, 564, 861
2, 158, 507
162, 684
184, 380
2, 234, 965
182, 831
1, 391, 224
3, 414, 770
307, 747
149
1,338
51
1,416
8,343
52, 035
9,474
10, 792
55, 415
2,633
35, 341
1, 072, 513
20, 093
104
497
24
420
2,210
6,434
1,063
39, 762
661
4,034
240,97 .'
13, 655
10
199
(14)
7
218
4,721
2
238
198
(14)
3,890
190, 432, 017
3, 899, 506
1, 148, 719
264, 114
113, 317, 092
15, 140, 749
36 3,471,811
2, 081, 953
1, 597, 898
735, 583
2, 624, 315
5, 024, 657
58, 498
3, 765, 339
543, 748
113,810
1, 005, 889
296, 710
38 23, 979, 245
2, 167, 191
195, 400
54, 585
17, 680
70, 841
9,008
48, 265
164, 299
880
179, 906
271, 207
1,292
19, 275
5,843
313, 518
654, 697
12, 782
6,185
1,064
17,417
781
5,585
56, 454
355
41, 558
96, 340
981
4,551
788
46, 740
191, 555
10, 436
2,079
607
5,712
822
6,801
11, 540
29
6,260
7,050
2,307
17
3' 173, 757, 295
3, 519, 187
946, 277
258, 232
16, 674, 722
16, 332, 542
330, 030
380, 318
378, 851
19, 255
202, 442
201, 998
2,690
5,882
5,875
3,195
2, 947, 568
797, OGO
64, 149
3, 359, 186
81,842
23, 173
368
38, 849
37, 234
10, 791
45
21, 873
1,333
393
5
402
7, 167, 902
144, 232
69, 942
2,133
9, 506, 819
6, 700, 787
178, 940
236, 086
321,820
1,767
132, 500
147,618
40
3,749
4,186
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
61
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax
RETURNS
thousands of dollars]
589783—44-
62
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART I. ALL
[Money figures in
Major industrial groups '—Continued
Manufacturing — Continued
Textile-
mill prod-
ucts, ex-
cept
cotton
Apparel
and prod-
ucts made
from
fabrics
Leather
and
products
Rubber
products
Number of returns is.
Receipts:
Gross sales ii
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable 18. -
Subject to declared value excess-
profits tax and surtax."
Subject to surtax only 20
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital
assets. 2<
Dividends, domestic corporations 25_ _
Dividends, foreign corporations 26
Other receipts 2'
Total compiled receipts *.
Deductions:
Cost of goods sold 28
Cost of operations 2'
Compensation of officers
Rent paid on business property
Repairs 29
Bad debts
Interest paid
Taxes- paid 30
Contributions or gifts "
Depreciation
Depletion
Amortization 32
Net long-term capital loss 23
Net loss, sales other than capital
assets. 2''
Other deductions ^3
Total comjiiled deductions.
Compiled net profit or net loss (15 less 31) _
Net income or deficit 3 [32 less (6+7)]....
Net operating loss deduction 3*
Normal tax '
Surtax 6__ _.
Dcdareil value excess-profits tax.
Excess profits tax '... ,
Total tax.
40 Compiled net profit less total tax (32 less
39).
Dividends paid: >
Cash and assets other than own
stock. 8
Corporation's own stock
3,&64
8,771
2,085
538
4, 008, 016
59, 901
22
261
14
229
2,964
6,976
928
1,357
4,038
1,452
21, 801
3, 286, 370
60, 731
6
125
4
84
1,150
5,628
132
368
1,869
160
12, 571
1, 757, 140
5,840
3
90
1,824
1,347
104
140
1,992
7
9,131
1, 670, 548
2,759
63
3
30
1,411
3,008
70
50
6,246
5,921
5,425
106, 959
3, 369, 199
1, 777, 709
1, 695, 542
3, 137, 560
36, 971
75, 420
12, 044
41, 137
4,458
17, 457
67, 170
1,472
59, 015
49
237
6,988
9,145
290, 495
2, 651, 982
44, 421
109, 646
27, 472
5,997
5,835
9,363
38, 976
1,087
12, 934
34
100
1,835
509
333, 044
1, 452, 850
3,582
34, 332
7,377
11,820
2,552
5,577
24, 693
474
12, 048
8
36
4,646
1,010
127. 023
1, 165, 573
454
12, 381
5,582
23, 093
5,299
7,999
75, 690
352
29,143
539
373
4,126
915
213, 666
1, 688, 029
1, 545, 186
347, 339
347, 096
13, 524
63, 556
14, 993
2,742
72, 153
125, 96i
125, 878
5,525
24, 210
5,148
1,090
18, 862
89, 588
4,000
18, 720
2,818
799
9,857
150, 357
150, 323
1,362
28, 397
5,560
397
30, 287
153, 444
49, 311
32, 195
64, 640
193, 895
69, 831
4.151
76, 654
24, 367
3,164
57, 485
28, 582
1,004
85, 716
36, 256
174
For footnotes, sec pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
63
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
RETURNS— Continued
thousands of dollars]
Major industrial groups »— Continued
Manufacturing— Continued
Furniture
and
Paper and
Printing
and pub-
lisiiing in-
Chemicals
Petroleum
Stone, clay,
Iron, steel,
Nonferrous
metals and
their prod-
finislied
allied prod-
and allied
and coal
and glass
and
lumber
ucts
products
products
products
products
products
4,240
2,203
11, 131
6,588
619
3.278
6,320
2,605
1
1, 770, 875
2, 759, 732
2. 366. 535
6, 331, 900
6,270,028
2, 250. 266
11,591,871
2, 780, 286
2
9,264
5, 3j)0
186, 235
44, 734
327, 235
10,671
54,042
74, 727
3
41
42
117
104
51
82
112
45
4
197
579
1,037
1,301
757
629
1,084
280
5
18
34
52
243
140
65
69
26
6
259
188
838
1,430
386
289
607
174
7
1,458
5.739
4.295
8,878
14,901
2,137
9,641
2,406
8
2,493
6,823
12, 251
17, 236
55, 281
6,180
20, 253
2,721
9
525
973
1,205
1,564
1,238
955
726
465
10
813
1,266
1,151
848
3,492
1,482
2,638
299
U
2,491
7,611
18, 562
73, 570
189, 369
10, 067
28, 925
17, 405
12
310
1,899
1,268
7,901
2.795
5,416
4,068
6.502
13
11,054
15, 476
25, 401
23, 694
29, 967
13, 123
38, 532
8,156
14
1, 799,' 799
2, 805, 663
2, 618, 946
6, 513, 404
6, 895, 641
2, 301, 262
11. 752. 569
2,893,492
15
1, 299, 334
1, 905, 308
1, 559, 246
4, 047, 946
4,411,334
1, 468, 608
8. 368, 613
2. 088. 959
16
5, 054
1,754
. 92, 990
7,222
175, 178
5.699
31.120
39. 298
17
52, 401
52,472
111,693
93, 967
16,311
45, 582
163, 488
47, 487
18
9,909
10, 484
31.181
18. 152
63, 838
6,884
36. 969
7,740
19
15. 624
56. 574
10, 861
76, 661
89, 301
47, 276
289, 618
35 231
20
5, 335
5,969
12, 828
17, 154
18, 077
5,418
13,714
3,514
21
6,759
18, 053
15,615
19,012
39, 426
9,169
80, 961
7,489
22
32, 096
55. 847
52, 849
119.917
235. 636
49, 279
226, 800
50, 158
23
636
1,358
1,724
2,249
918
995
3,452
1,078
24
22, 344
70, 858
45, 699
142, 900
279, 657
62, 812
254. 408
39, 451
25
987
3,519
43
5,787
168, 496
2,289
3,675
3, 214
26
150
799
43
11,148
899
699
16,910
10, 186
27
2,157
19, 965
5,896
13, 782
36, 391
5,332
19, 165
4,841
28
2,352
2,793
1,621
4,123
3,495
2,734
8,719
1,151
29
207, 167
247, 766
484, 869
915, 420
806, 029
250^ 639
701,838
176,475
30
1, 662, 305
2, 453. 519
2, 427. 159
5, 495, 441
6, 344, 987
1,963,416
10, 219, 451
2, 516, 270
31
137, 494
352, 144
191, 787
1,017.963
550, 654
337, 845
1,533,118
377. 221
32
137, 216
351, 922
190, 896
1, 016, 290
550, 128
337, 491
1, 532, 442
377, 021
.3,^
5,249
5,383
3,564
4,477
4,244
2,954
25, 898
2,085
34
25,427
59, 933
40, 818
170, 565
88, 387
59. 948
240,328
59, 997
3.'>
5,994
15, 519
11,475
45, 548
25,440
16, 349
65, 400
16. 682
36.
1,243
1,490
375
1,985
288
654
9,826
1,075
37
25,579
92, 866
16, 929
247,011
22, 976
82, 429
479, 903
112,021
38^
58, 244
169, 809
69, 597
465, 109
137, 092
159,380
795, 457
189, 775
39-
79, 250
182, 335
122, 190
552, 855
413,562
178,465
737, 661
187, 446
40>
30, 551
91,418
89. 704
337, 824
293,464
10«,429
276, 490
83, 761
411
1.418
1,978
4,224
14, 220
15.791
1,824
5,554
1,276
42
64
STATISTICS OF INCOME FOR 19-11, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART I. ALL
[Money figures in
Number of returns '5
Receipts:
Gross sales "
Gross receipts from operations i'
Interest on Government obligations:
Wholly taxable is
Subject to declared value excess-
profits tax and surtax."
Subject to surtax only 20
Wholly tax-exempt 21
O ther i n terest
Rents and royalties 22 1
Net capital gain 23
Net gain, sales other than capital
assets. 2'
Dividends, domestic corporations 25 .
Dividends, foreign corporations 26
Other receipts 27
Total compiled receipts ^.._ _-.
Deductions:
Cost of goods sold 28. _
Cost of operations 28
Compensation of officers
Rent paid on business property
Repairs 29
Bad debts
Interest paid
Taxes paid ^o
Contributions or gifts 3i
Depreciation
Depletion
Amortization ^
Net long-term capital loss 2j
Net loss, sales other than capital
assets. 2<
Other deductions '^
Total compiled deductions
Compiled net profit or net loss (15 less 31)
Net income or deficit 3 [32 less (6-|-7)]_..
Net operating loss deduction ^*
Normal tax '
Surtax 8
Declared value excess-profits tax
Excess profits tax '
Total tax
Compiled net profit less total tax (32 less
39).
Dividends i)aid: «
Cash and assets other than own stock 8.
Corporation's own stock
Major industrial groups ' — Continued
Manufacturing— Continued
Electrical
machinery
and equip-
ment
1,694
3, 703, 961
8,041
44
398
206
46S
3, 3i8
6,975
502
985
13, 402
3, 265
12, 085
3, 753, 700
2, 431, 457
3,317
43, 116
10, 128
42, 750
3,319
5, 030
97, 978
1,402
58, 290
14
5, 185
7,554
2, 266
378, 388
3, 090, 194
663, 506
662, 831
5,000
98, 356
27,591
1,756
239, 918
367, 621
295, 885
146,011
678
Machin-
ery, except
transporta-
tion equip-
ment and
electrical
, 063, 355
91, 532
117
1,806
130
1, 462
14, 678
36, 343
1,432
3, 704
12, 658
8,574
37, 480
7, 273, 271
4, 436, 308
8,904
148, 581
16, 687
110,828
27,122
17, 249
165, 836
3, 681
113,147
414
15, 006
20, 613
5,272
875, 686
5, 955, 333
1, 317, 937
1, 316, 345
8,841
210, 819
47, 748
6, 865
433, 606
699, 038
Automo-
biles and
equip-
ment, ex-
cept elec-
trical
739
6, 491, 964
1,957
417
517
21
.331
5,606
8,870
287
642
43, 401
14, 774
19, 041
6, 587, 829
5, 028, 288
110
26, 313
4.857
84, 607
2, 356
7, 336
199, 198
1,710
94, 077
642
8,308
11, 884
701
256, 037
5, 726, 424
861, 405
861, 053
5,801
133, 366
36, 502
3,195
266, 717
439, 780
618, 900
255, 923
6, 653
421, 625
257, 083
542
Trans-
portation
equip-
ment, ex-
cept auto-
mobiles
2, 8.58, 983
1, 028, 260
22
154
25
159
3,123
5,414
414
531
10, 709
412
22, 083
3, 930, 289
1,995,711
824, 478
24, 70S
9, 115
5S, 356
6. 61 2
7, 259
77, 604
524
39, 048
31
15, 174
5, 206
2.890
141,712
3, 209, 437
720, 852
720, 668
6,210
106, 496
23. 752
2, 521
291, 778
424, 548
296, 304
94, 225
3,011
Other
manufac-
turing
4,178
1, 591. 702
17, 113
37
105
17
93
2,242
4,154
185
345
6, 592
2,017
9, 306
1, 633, 906
1, 003, 243
9, 134
54, 341
11,8.38
11,647
10, 457
4,825
35, 223
940
22, 688
12
1, 528
15, 223
2,037
242, 640
1, 425, 774
208, 132
208, 023
3, 696
35, 263
9,633
1,205
54, 587
100, 688
107, 444
59, 598
3,622
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
65
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
RETURNS— Continued
thousands of dollars]
Major industrial groCps '—Continued
Manufac-
turing— .
Public utilities
Trade
Continued
Wholesale
Manufac-
turing not
allocable
Total
public
utilities
Transpor-
tation
Communi-
cation
Other
public
utilities
Total trade
Total
wholesale
Com-
mission
merchants
2,492
21. 921
14, 521
3,718
,3,682
138, 703
37, 632
5,486
1
.856, 566
186, 758
121,471
8.596
56,690
55, 783, 709
26, 704, 699
984, 785
2
4,459
15,144,565
9, 404, 331
1, 664, 392
4, 075, 843
1, 134, 521
673, 419
336, 656
6
8
315
176
13
125
338
199
10
4
129
3,439
2,523
45
871
1,788
679
37
5
2
367
105
5
257
195
76
4
6
75
1, 339
856
73
410
1,775
812
128
V
946
83, 643
54, 084
2,885
26, 674
81, 154
28, 818
6,237
8
2,101
278, 882
227,193
25, 048
26, 638
114,358
25, 582
2,484
9
74
10, 930
8,226
385
2,318
6, 629
2,737
316
10
372
30, 067
22, 826
57
7,184
9,827
4, 040
328
a
2,562
138, 877
77, 222
13,773
47, 882
60, 657
34, 148
7,306
12
412
1,836
763
29
1,044
33, 503
8.989
141
13
5,242
67, 561
46, 719
3,646
17, 196
547, 961
159, 649
18, 993
14
872, 948
15,948,578
9, 966, 498
1,718,946
4, 263, 134
57, 776, 415
27, 643, 847
1,357,424
15
598, 417
132, 317
82, 705
4,240
45, 371
44, 726, 939
23,172,491
910, 733
16
2,374
8, 448, 345
5, 992, 650
781,076
1, 674, 620
533, 636
275, 881
73, 807
17
29, 955
137, 530
103, 109
10,392
24, 030
1, 083, 423
461, 503
56, 393
18
4,215
550, 127
475, 565
32, 967
41,594
736, 020
101, 469
11,387
19
7,347
33, 790
27, 803
2,555
3,432
123, 584
26, 861
1,339
20-
2,499
26, 757
11,487
5,407
9, 863
189, 574
72, 305
6,225
21
3,817
1,032.725
633, 752
49, 830
349, 144
149,515
58, 309
4,663
22
14, 575
1, 148, 306
584, 751
147,984
415,570
530, 748
157, 827
9,704
23
258
4,988
1,287
1.063
2,638
13, 964
4,973
532
24
11,619
1,006.214
362, 876
195, 826
447, 513
311,045
75. 608
4,368
25
139
15,015
3.570
6
11, 439
1,346
676
47
26
790
20, 698
18, 829
9
1,860
1,387
419
31
27
1,471
175, 829
158, 741
1,859
15,229
48,508
21.882
4,140
28
1,434
29, 030
16, 971
1,128
10, 930
15, 073
4,979
735
29
109, 723
1,257,996
• 700, 997
173,210
383, 789
7, 229, 465
2, 304, 255
198, 013
30
788, 632
14.019,667
9,175,093
1, 407, 551
3, 437, 023
55, 694, 225
26, 739, 437
1,282,117
31
84,316
1,928.911
791,405
311,395
826.111
2,082,190
904.411
75. 307
32
84, 239
1,927,205
790. 444
311,318
825. 443
2, 080, 220
903. 522
75, 176
33
2,440
64, 793
55. 268
1,247
8,279
53, 406
21.928
1,953
34
14, 539
416, ,'>04
171,259
65, 445
179,800
394,115
167, 518
12, 100
35
3,940
120,172
48,880
19, 000
52,292
106,122
42.120
3,161
36
1,332
1,073
960
34
79
15, 058
9,500
380
37
20, 345
167, 434
87, 462
30, 770
49,202
347. 943
109,811
16, 072
38
40,156
705, 183
308, 561
115, 249
281,373
863, 238
388, 950
31,713
39
44, 160
1, 223, 728
482, 844
196, 146
544, 738
1,218,952
515,461
43, 594
40
17,383
1,086,632
349, 389
201,851
535, 392
587, 105
223. 685
22, 034
41
1,108
4,764
2,575
569
1,619
24, 315
14,764
278
42
66
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Coi-poration rehirns, 1941, by major industrial groiips, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, s^irtax, declared value excess-profits tax,
PART I. ALL
[Money figures in
Major industrial groups s— Continued
Trade— Continued
Wholesale —
Continued
Other
wholesalers
Retail
Total retail
General
roerchan-
dise
Food
stores,
including
market
milk
dealers
Number of returns i^
Receipts:
Gross sales '«
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable is
Subject to declared value excess-
profits tax and surtax. '9
Subject to surtax only -^
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital
assets. 24
Dividends, domestic corporations 25. .
Dividends, foreign corporations 28
Other receipts -''
Total compiled receipts ^
Deductions:
Cost of goods sold 28
Cost of operations 2s
Compensation of officers
Rent paid on business property
Repairs 29
Bad debts
Interest paid
Taxes paid ^o
Contributions or gifts 2'
Depreciation
Depletion
Amortization 32
Net long-term capital loss 23
Net loss, sales other than capital
assets. 2<
Other deductions ^3
Total compiled deductions
Compiled net profit or net loss (15 less 31).
Net income or deficit 3 [32 less (64-7)]
Net operating loss deduction '^
Normal tax «
Surtax 8
Declared value excess-profits tax
Excess profits tax '
Total tax
Compiled net profit less total tax (32 less
39).
Dividends paid:'
C^ash and assets other than own stock '
Corporation's own stock
32, 146
84, 545
6,440
6,910
, 719, 915
336, 763
189
642
72
684
22, 582
23, 098
2,421
3,713
26, 841
8,848
140, 656
24, 720, 654
356, 695
118
697
46, 098
77, 586
3,216
4,316
23, 958
6,126
351,010
6, 823, 670
27, 347
34
375
19
244
24, 182
36, 471
706
834
10, 747
6,097
87, 723
4, 828, 852
38,100
7
108
12
102
1,751
4,587
710
951
3,803
7
16, 042
26, 286, 423
25, 591, 520
7, 018, 448
4, 895, 032
22, 261, 758
202, 075
405,110
90, 082
25, 522
66, 080
53, 646
148, 123
4,441
71, 241
028
3S8
17, 742
4,244
2, 106, 242
18, 110, 103
211,867
500. 624
590, 791
85, 747
92, 661
77, 095
322, 403
7, 943
203, 024
444
875
21, 080
8, 897
4, 354, 977
4,489,118
9,196
64, 079
176, 022
30, 633
24, 490
25, 021
118,111
3,490
63, 537
117
644
6,784
1,004
1, 501, 106
3, 894, 507
26, 332
37, 342
63, 240
15, 730
4,120
7,933
44, 273
924
42, 625
12
15
7,261
2,599
671, 803
25, 457, 320
24, 594, 533
6, 513, 952
4, 818, 717
829, 103
828, 346
19, 975
155, 418
38, 959
9,120
153, 740
996, 987
996, 192
26, 305
189, 905
63, 652
4,147
158, 173
504, 496
504, 234
5,330
93, 042
26, 597
1,187
100, 427
76, 316
76, 201
1,984
17, 245
4,941
114
7,480
357, 237
405, 876
221, 253
29, 779
471,!
201,651
14, 480
691, 111
298, 203
7,170
283, 243
158, 451
1,326
46, 536
38, 357
666
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
67
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
RETURNS— Continued
thousands of dollars]
Major industrial groups '—Continued
Trade— Continued
Retail— Continued
Apparel
Furniture
Eating and
Automo-
tive dealers
Filling
stations
Building
Drug stores
and acces-
sories
and house
furnishings
drinking
places
Hardware
materials,
fuel, and ice
5,257
11,244
5,480
10, 154
10, 386
2,620
2,671
8,384
1
682, 686
2, 230, 749
940, 224
822, 155
4, 440, 169
365, 243
225, 269
1, 395, 221
2
5,827
23, 591
14, 585
73, 515
104, 125
7,736
1,749
23, 037
3
2
12
3
22
6
(14)
1
16
4
9
105
34
34
50
86
2
57
S
(»)
6
6
3
1
36
(14)
11
fi
8
62
41
9
12
48
33
58
7
447
1,412
3,033
393
6,421
152
809
2,825
S
1, 699
11,513
2,412
4,645
2,288
3,155
436
5,348
9
31
429
160
141
137
47
14
529
in
91
89
205
248
407
149
61
722
11
1,885
2,387
525
1,110
656
240
99
1,263
12
(14)
6,502
(H)
44, 617
(H)
5,370
6
36, 595
3
2,304
3
15, 587
n
92, 348
2,926
14
699, 188
2, 314, 973
1, 053, 576
907, ^7
4, 590, 872
379, 199
231, 401
1, 444, 677
U
476, 586
1, 461,»680
541, 226
484, 164
3, 778, 885
278, 741
172, 085
1, 068, 990
Ifi
3,447
11,543
5,642
47, 434
68, 511
4, 932
1,015
16, 477
r
18, 065
74, 706
43, 413
33, 993
95,712
7,605
10, 775
49, 160
ia
32, 141
133, 206
30, 317
52, 661
38,312
6,911
3,941
8,203
IS
2,302
6,198
2,423
8,297
6,607
2,121
288
6,668
2(
587
10,319
10, 641
782
13, 162
1,109
1,598
11,632
21
1,141
5,012
5,576
2,881
13, 357
868
1,056
7,167
22
9,696
27, 640
17, 262
22, 101
28, 386
7,315
2,817
19, 730
2;
140
1,009
666
181
571
52
60
365
2'
6,974
16, 879
5,958
19, 488
11, 280
5,511
1,276
15, 342
2!)
12
25
16
30
17
16
1
56
2fi
(H)
338
88
1,116
5
780
6
395
10
1,571
40
1,847
?'
257
65
28
181
688
393
581
1,240
168
38
1,021
29
126, 594
467, 066
335, 060
223, 106
437, 894
49, 914
27, 689
191, 792
30
678, 203
2, 217, 175
999, 380
896, 100
4, 495, 516
365, 522
222, 704
1, 398, 490
31
20, 985
97, 797
54, 196
11, 546
95, 357
-13, 677
8,697
46, 188
32
20, 977
97, 730
54, 149
11,534
95, 344
13, 593
8,664
46, 119
■i'i
825
4,433
2,555
1,345
3,379
302
428
1,994
34
4,402
18, 369
10, 378
4,027
16, 119
2,814
1,504
9,160
35
808
5,009
2,951
1,033
4,713
824
462
2,615
36
91
443
389
91
514
36
129
420
37
1,519
12, 976
5,301
966
15, 728
1,522
869
3,037
38
6,819
36, 797
19, 019
6,117
37, 074
5,196
2,964
15, 232
39
14, 166
61, 001
35, 178
5,429
58, 283
8,481
•5, 733
30, 956
40
8,048
21, 842
9,032
7,291
19, 092
4,981
2,534
15, 288
41
72
1,535
1,188
36
691
31
84
914
42
68
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax.
PART I. ALL
[Money figures in
Number of returns is
Receipts:
Grcs sales '6 »
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable "
Subject to declared value excess-,
profits tax and surtax. i'
Subject to surtax only 20
Wholly tax-exempt -K
Other interest
Rents and royalties -
Net capital gain 23
Net gain, sales other than capital as-.
se.ts.2«
Dividends, domestic corporations 25
Dividends, foreign corporations -^
Other receipts "
Total compiled receipts *
Deductions:
Cost of goods sold 28
Cost of operations 2s
Compensation of officers :
Rent paid on business property
Repairs 26 _..
Bad debts
Interest paid
Taxes paid so •__.
Contributions or gifts 3'
Depreciation
Deplef ion
Amortization 32
Net long-term capital loss 23_
Net loss, sales other than capital assets 2<
Other deductions '^
Total compiled deductions
Compiled net profit or net loss (15 less 31)..
Net income or deficit 3 [:32 less (6+7) ]
Net operating loss deduction ^*
Normal tax «
Surtax 6
Declared value excess-profits tax
E.xcess profits tax '
Total tax
Compiled net profit less total tax (32 less 39) .
Dividends paid: *
Cash and assets other than own stock 8.
Corporation's own stock 1
Major industrial groups ' — Continued
Trade— Continued
Retail— Continued
Other re-
tail trade
8,165
1,096,830
27, 079
6
66
2
59
369
2,S6
139
303
748
10
24, 707
1, 156, 603
763, 292
11, 267
47, 347
33, 259
2,534
9,188
3,967
15, 184
299
7,829
28
67
511
260
213,315
1, 108, 347
48, 256
48, 194
2,621
9,156
2,568
512
7,263
19, 499
28, 757
8,956
462
Retail
trade not
allocable
5,052
759, 359
7,248
19
1
21
1.303
1,630
135
213
496
(14)
16, 098
786, 530
612, 928
3,814
18, 681
9,622
1,796
4,971
2,846
7, 690
175
5,724
113
151
103
99, 064
767, 678
18,851
18, 830
973
3,479
1,062
205
1,060
13, 045
4,214
278
Trade not
allocable
16, 526
4, 358, 356
104, 407
21
161
20
267
6,237
11,189
676
1,471
2,551
18, 3S8
37, 303
4, 541, 048
3, 444, 346
45, 887
115,295
43, 760
10, 976
24, 608
14,111
50. 518
1.018
32, 413
227
92
5, 546
1,196
570, 233
4, 360, 256
180, 792
180, 506
5,173
36, 692
10, .350
1,410
19, 959
68,411
112,381
65, 217
2,381
Service
Total
service
40, 494
735,817
3, 258, 933
65
596
599
7,869
88, 898
2.201
3,045
25.411
3,166
56, 946
4, 183, 574
409, 908
1, 721. 267
212.642
202. 526
' 52, 543
17, 887
58. 720
130. 564
1.707
145, 987
340
427
20, 270
4.590
1, 020, 440
3, 999, 817
183, 757
183, 130
9.443
46, 883
11,161
763
16, 788
75, 595
108, 162
98. 594
4, 673
Hotels and
other lodg-
ing places
5,041
221,099
441, 468
36
2
59
876
43, 305
666
797
1,407
13
9, 554
719, 290
124, 970
182, 876
16, 156
42, 005
24, 712
2,492
30, 387
43, 919
201
48, 673
66
178
2,440
1,770
199, 383
720, 228
3' 938
38 999
2,265
4, 662
1,221
64
1,425
7,371
I 8, 309
7,788
520
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
69
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
RETURNS— Continued
thousands of dollars] •
Major
industrial groups '—Continued
Service— Continued
Automotive
Miscella-
Amuse-
Other serv-
Personal
Business
repair serv-
neous repair
Motion pic-
ment, ex-
ice, in-
Service not
service
service
ices and
garages
services,
hand trades
tures
cept motion
pictures
cluding
schools
allocable
9,015
7,212
3,553
1,622
4,350
4,943
4,565
193
1
178, 460
80, 511
87, 171
41,456
56, 601
36, 861
30, 568
3,090
2
544, 140
740. 214
75, 826
56,293
945, 973
228, 543
219, 784
6,692
3
11
20
6
(14)
8
4
9
4
39
136
3
2
41
15
322
1
5
4
„
0*)
fn^
3
12
10
fi
51
74
3
1
237
162
('*)
7
327
1,803
91
48
3,022
666
1,024
11
8
1,706
10,844
4,909
106
20, 392
4,667
2,876
94
9
185
335
114
53
360
364
122
2
10
366
538
296
65
489
360
128
7
11
590
3,091
40
11
18, 722
430
1,120
('*)
12
3
5,202
304
8,738
5
467
2.762
17,204
2
5,858
77
6,931
54
13
2,938
14
731, 084
846, 616
171, 397
98, 507
1, 065, 815
277, 782
263, 133
9,951
15
92, 455
55, 105
58,024
27, 737
11, 227
19, 866
18,410
2,116
16
304, 150
402, 699
34, 472
35, 533
554, 796
109, 103
95, 609
2,028
IV
50,764
64,732
10, 933
8,391
21, 675
15, 136
23, 436
1,420
18
21, 226
18, 606
19, 623
1,614
76, 748
13. 753
8,591
359
19
9.426
3,440
1,623
394
6,628
4,247
2.031
42
20
3,883
2.873
757
421
4,362
739
2,309
50
21
4,664
2,424
2,020
378
13, 899
3,110
1,813
24
22
19, 692
14, 094
4,877
1,931
25, 808
13, 987
6,067
190
23
329
356
43
25
324
319
105
4
24
25, 713
15, 115
6,323
1,868
28, 082
12, 718
7,315
180
25
14
152
4
1
20
49
31
1
26
4
2,563
12
2,051
16
37
214
11, 139
469
3
1,436
?:/
134
2
28
477
974
149
32
373
643
169
2
29
175, 628
217, 825
29,524
13, 850
225, 392
67, 442
88, 177
3,219
30
710, 989
800, 457
168, 505
92, 229
980, 688
261, 583
255, 502
9,634
31
20. 094
46, 159
2.892
6,277
85, 127
16, 199
7,630
317
32
20, 039
46, 077
2,889
6,276
84, 887
16, 187
7,458
316
33
1,619
1,351
384
246
1,561
1,371
612
34
34
4,946
10. 446
749
1,074
17, 678
4,510
2,737
82
35
1,391
2,860
237
319
3,112
1,128
869
26
36
127
93
26
120
146
78
103
5
37
1,362
3,788
607
1,049
3.609
3,181
1,751
16
38
7,825
17, 188
1,619
2,561
24, 545
8,897
5,460
129
39
12, 269
28, 971
1,273
3,716
60, 582
7,302
2,171
188
40
7,842
24, 715
760
' 953
44, 463
8,022
3,863
189
41
137
758
23
79
947
2
2,207
4?,
70
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income o?
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART I. ALL
[Money figures in
Major industrial groups '—Continued
Finance, insurance, real estate, and lessors of real
property
Total finance,
insurance,
real estate,
and lessors of
real property
Finance
Total
finance
Banks and
trust com-
panies
Long-term
credit agen-
cies, mort-
gage com-
panies, ex-
cept banks
Number of returns i'
Receipts: •
Gross sales '^
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable "
Subject to declared value excess-prof-
its tax and surtax. 's
Subject to surtax only 20
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital assets 24.
Dividends, domestic corporations 25
Dividends, foreign corporations 29
Other receipts 2?
Total compiled receipts *
Deductions:
Cost of goods sold 28
Cost of operations 2s
Compensation of officers
Rent paid on business property
Repairs 2«
Bad debts
Interest paid.
Taxes paid so
Contributions or gifts 'i
Depreciation
Depletion
Amortization 32 ^
Net long-term capital loss 23
Net loss, sales other than capital assets 2<_
Other deductions 33 _
Total compiled deductions.
Compiled net profit or net loss (15 less 31)
Net income or deficits (32 less (6-f7)]...
Net operating loss deduction ^*
Normal tax «...
Surtax «_.
Declared value excess-profits tax
Excess profits tax '
Total tax ,
Compiled net profit less total tax (32 less 39)..
Dividends paid: »
Cash and assets other than own stock >...
Corporation's own stock
143, 494
36, 983
15, 637
125, 109
4, 260, 702
35, 896
447, 915
61, 221
264, 236
2,269, 119
1, 348, 706
109, 393
89, 081
1,43 J, 572
59, 545
200, 419
30, 877
954, 864
30, 929
279, 609
59, 210
157,848
1, 388, 705
180, 027
89, 126
49, 527
1, 305, 622
55, 687
93, 289
308, 605
30, 216
275, 856
57, 995
150, 318
975, 539
91,452
63, 113
3,833
24, 964
472
48, 095
10, 705, 913
4, 675, 322
94, 040
363, 165
35 463, 659
199, 245
113,804
286, 769
950, 696
650, 626
6; 904
415, 622
29, 645
775
484, 391
148, 090
36 5, 060, 340
20, 899
180, 920
291, 649
80, 677
17, 424
259, 796
525, 214
175, 203
5,264
89, 877
1, 966
134
363, 493
55,781
1,095,111
500
200, 054
45, 063
13, 514
113, 115
215, 891
115,031
3,158
52, 096
166
25
103, 999
27, 242
655,011
37 9, 267, 772
3, 163, 410
1, 544, 865
1, 438, 142
1,112,684
25, 455
1,511,912
1, 294, 854
485, 592
277, 279
2,535
203, 601
77, 928
1,274
40, 850
126, 846
53. 978
658
28, 938
323, 653
210,419
24, 639
25, 232
• 2'.)3
1,430
51,595
1,114,488
1, 689, 455
03, 390
1,301,493
1, 383, 828
50, 073
433, 998
241,343
15, 045
3,232
14, 915
24
118
10
1,142
18, 479
11, 703
1,017
860
249
(H)
4,255
52, 773
1,329
5,508
1,128
969
3,461
12,528
4,054
25
2,254
6
4
2,046
6,273
27, 823
67, 406
' 14, 633
15, 786
304
12
35
1,340
3,626
230
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
71
returns ivith net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net incotne:
excess profits tax, total tax, and compiled net profit less total tax — Continued
RETURNS— Continued
thousands of dollars]
Major industrial groups
'—Continued
Finance, insurance, real estate, and lessors of real property— Continued
Finance-
Continued
Insurance carriers,
agents, etc.
Invest-
ment trustt
! and invest-
ment rom-
Other invest-
Securitv
Short-term
credit agen-
cies, except
ment com-
panies, in-
cluding hold-
and com-
modity-
exchange
Other
finance
Finance
not allo-
cable
Total in-
sm'ance
carriers.
Insurance
carriers
banlis
ing compan-
brokers and
agents, etc.
ies 11 12
dealers
5,105
3,890
2,351
1,760
1,765
3,243
8.218
1,953
1
7,614
269, 362
16, 613
179, 558
6, 650
7, 053
?,
6,664
152, 341
16, 369
2, 262, 438
2, 045, 225
3
42
175
330
80
2
60
4,767
4,757
4
45
1, 119
1,735
434
47
258
167, 108
167, 032
5
10
139
858
155
8
36
1,875
1,871
6
107
1,614
1.288
2,034
25
1,319
104. 776
104, 753
7
160, 904
30, 559
181, 3.52
3,904
4,331
13, 6.38
850, 500
849, 259
8
1, 387
3, 502
20, 774
839
46, 120
4,248
191,219
189. 524
9
446
8, 549
11,358
1,852
241
2,550
6,982
6,333
10
601
311
667
40, 497
1, 103
1,654
304
191
11
9, 353
215,841
1,033,916
5.305
13, 622
2,372
108, 245
104, 707
12
56
6,337
48, 585
66
156
14
3,662
3,444
13
14. 126
3,720
12, 254
5.910
1,993
2,937
28, 851
20, 392
14
464, 054
278, 529
1, 509, 287
213, 416
81, 352
45, 454
13 3, 730, 727
13 3, 497. 556
15'
4,887
2,747
11, 265
71, 155
4,747
1,020
16
254
102, 672
1,243
31, 159
1,308
n
36, 235
7,977
16, 277
26, 780
4,154
4,664
35 60, 138
35 12, 238
18
9,697
788
15, 598
6,459
779
1,165
23, 263
15,611
1»
730
128
1,282
133
411
258
2,864
2,406
20
30, 996
14, 408
77, 455
2.292
11, 747
6,322
4,172
• 2,599
?.1
53,901
30, 088
199, 155
3,014
4,110
6,52S
57. 155
55, 819
9.?.
12, 900
6,151
27, 930
4,428
2, 550
2,160
113. 802
lOS, 805
23
484
528
908
115
27
19
670
458
24
3,628
847
23, 403
778
6,164
708
42,180
40, 389
25
2
450
1, 095
8
225
13
9
5
26
37
142, 907
(H)
l,8fi3
68
8,686
(14)
55, 783
97
1,981
94. 667
7,314
54, 772
28
506
3, 979
5,093
1, 934
8,324
2,431
6,581
6,397
29
177, 508
34, 149
100, 024
58, 116
24, 801
17, 680
3«3,397, 114
36 3, 295, 750
30
326, 203
194, 415
693, 584
208, 623
77, 810
50, 504
37 3, 794. 891
37 3, 596, 534
31
137, 852
84,114
815, 703
4,793
3,541
" 5, 050
38 64, 164
38 93, 985
3?
137, 735
82,361
813, 557
2,604
3,509
38 6, 405
38 170,815
38 205, 589
33
852
349
2,074
930
477
493
2,631
2,086
34
27, G63
5. 687
58,399
1,837
5, 439
1, 893
23, 873
17, HI
^a
7,673
1,662
16, 709
465
1,492
540
8,274
6,271
36
67
12
179
19
64
12
100
14
37
11, 653
47,257
42
14, 108
283
1,345
41
4,314
1,964
38
7,402
89, 395
2,604
8,341
2,486
36, 561
25, 380
39
90, 595
76, 711
726, 308
2,190
39 4, 799
39 7, 536
39 100, 726
39 124, 325
40
76, 430
167,512
849, 916
12, 333
20, 216
12, 552
123. 774
105, 923
41
419
10, 824
22, 938
240
37
339
9,430
9,255
42
72
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART I. ALL
[Money figures in
Major industrial groups 9— Continued
Finance, insurance, etc.— Continued
Insurance
carriers,
etc.— Con.
Number of returns '»
16
17
18
19
■20
-21
22
23
24
25
26
27
28
29
30
Receipts:
Gross sales "
Gross receipts from operations i'
Interest on Government obligations:
Wholly taxable "
Subject to declared value excess-profits tax and
surtax. '9
Subject to surtax only 20
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain -^
Net gain, sales other than capital assets 2*
Dividends, domestic corporations 25
Dividends, foreign corporations -^ --
Other receipts"
Insurance
agents,
brokers, etc.
Total compiled receipts '
Deductions:
Cost of goods sold 28
Cost of operations 23.
Compensation of officers
Rent paid on business property.
Repairs 29__
Bad debts
Interest paid -
Taxes paid 30
Contributions or gifts 3i
Depreciation
Depletion..-
A mortizat ion 32
Net long-term capital losses
Net lo,ss, sales other than capital assets 24.
Other deductions w
Total compiled deductions.
Compiled net profit or net loss (15 less 31).
Net income or deficit ^ [32 less (6+7)]
Net operating loss deduction si...
Normal tax '. -
Surtax «..
Declared value excess-profits tax.
Excess profits tax ' --
Total tax.
Compiled net profit less total tax (32 less 39).
Dividends paid: » , , .
Cash and assets other than own stock '..
Corporation's own stock
6,265
Real estate,
including
lessors of
buildings
217, 213
10
26
4
22
1,242
1,694
619
113
3,538
217
8,459
233, 158
29, 851
47, 901
7,653
458
1,573
1,336
4,997
214
1,811
4
1,011
184
101, 364
198, 357
34, 800
34, 774
545
6,762
2,004
87
2, 349
11,202
23, 599
17, 851
175
91, 104
88, 304
1, 035, 686
163
919"
127
1,427
27, 722
780, 376
11,364
37, 661
17, 792
162
42, 570
Lessors of
real prop-
erty, except
buildings
7,189
2, 044, 272
68, 982
150, 320
106, 742
91,881
91, 890
21, 099
317, 184
339, 010
897
273, 475
596
617
56, 658
80, 965
5.38, 501
5,928
7,713
36
279
185
2,191
197, 084
1,921
1,589
2,914
35
35, 709
255, 593
2,138,817
38 94, 545
38 96, 098
13, 190
4,160
765
5,130
3,425
1,625
1.703
51, 143
22,611
73
10, 090
27, 074
23
8,457
4,763
29, 613
170, 654
84, 938
84, 744
1,536
28, 126
8, 478
461
2,909
39, 973
i9 134, 518
86, 636
3,432
24, 757
7,198
55
4, 690
36. 699
48, 239
95, 218
455
Fcr footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
73
returns ivith net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total <aa;— Continued
RETURNS— Continued
thousands of dollars]
Major industrial groups '—Continued
Agriculture, forestry, and fishery
Nature of busi-
Construction
Total agricul-
ture, forestry,
and fishery
Agriculture
and services
Forestry
Fishery
ness not allo-
cable
14, 996
7,901
7,098
496
307
7,299
1
499, 311
576, 478
537, 562
11, 140
26, 777
103, 423
2
2, 952, 761
136, 425
125, 111
4,568
6,745
61, 4.38
3
33
36
28
8
(H)
130
4
230
737
727
10
1
148
5
15
455
7
198
6
182
1
11
19
400
6
6
7
2,4')9
2,345
1,996
307
42
3,808
8
12, 243
11, 159
10. 456
.341
362
8,339
9
1, 117
3,619
1, 523
2,0j9
27
2,2il
10
7,516
2,016
1.007
919
89
2,267
11
5,768
9, 453
9,298
126
29
2,718
12
198
526
516
10
CO
52
13
47, 817
10, 617
8,518
713
387
.8,417
14
3, 529, 934
752, 617
697, 931
20, 221
34, 465
193, 410
15
391, 325
411, 565
380, 974
8,022
22, 569
79, 346
16
2, 467, 668
50,195
45, 263
1,570
3, 362
21, 181
17
137, 112
23, 144
21, 294
761
1,089
17, 823
18
12, 314
17, 487
17, 219
79
190
3,226
19
17, 023
12, 053
11.212
60
781
1,652
20
7,905
3,348
3,013
234
101
3,489
21
10, 520
12, 978
11.273
1,478
227
6, 354
22
40, 603
18, 377
16, 526
1,394
457
6, 474
23
899
»53
139
11
4
84
24
42, 215
26,613
25, 270
499
844
5,434
25
392
3,601
684
2,916
1
787
2S
581
7,817
2
5,292
2
3,989
49
10, 755
97
1,278
24
2S
2,186
2,973
2,293
664
16
13, 282
29
213, 023
101, 506
95. 307
2,911
3,288
43, 016
30
3, 351, 582
689, 289
634, 458
21, 876
32, 955
212, 958
31
178, 352
63, 328
63, 473
3S 1, 655
1,510
38 19, 548
32
177, 882
63, 123
63, 285
38 1, 666
1,504
38 19, 968
33
11, 532
4,041
3,486
423
132
1,391
34
31, 923
14, 536
13, 6S5
480
371
2, 830
35
8,695
4,088
3,845
1.37
106
799
36
2,213
590
517
13
59
115
37
39, 236
3,732
3,430
88
213
1,398
38
82, 067
22,945
21, 478
719
749
5,140
39
96,284
40, 383
41,995
39 2, 374
761
S' 24, 689
4ft
33,228
32, 226
29,286
2,510
429
16, 220
41:
2,726
1,027
1,027
189
4'7
74
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART II. RETURNS
[Money figures in
Major industrial groups »
All industrial
groups
Mining and quarrying
Total min-
ing and
quarrying
Metal
mining
Anthra-
cite
mining
Bitumi-
nous coal,
lignite,
peat, etc.
Number of returns " -
Receipts:
Gross sales ■«
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable «
Subject to declared value excess-
profits tax and suitax."
Subject to surtax only 20
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital
assets. 2»
Dividends, domestic corporations 25_.
Dividends, foreign corporations 26
Other receipts "
Total compiled receipts <
Deductions:
Cost of goods sold 28
Cost of operations 28
Compensation of officers
Rent paid on business property
Repairs 29
Bad debts
Interest paid
Taxes paid 2"
Contributions or gifts ^i
Depreciation
Depiction
Amortization 32
Net long-term capital loss 23. _
Net loss, sales other than capital
assets. 24
Other deductions ^3
Total compiled deductions,- _.
Compiled net profit (15 less 31)
Net income 3 (32 less (6-1-7)]
Net operating loss deduction ^*
Normal tax «.
Surtax 6
Declared value excess-profits tax
Excess profits tax '
Total tax....
Compiled net profit less total tax (32
less 39).
Dividends paid:'
Cash and assets other than own
stock."
Corporation's own stock..
264, 628
4,388
335
72
143, 000, 769
24, 885, 257
29, 592
297, 537
55, 565
149, 441
1, 527, 528
1, 467, 787
1.33.719
150!889
2, 091, 625
171,842
1, 220, 270
2, 766, 681
200, 687
145
1,207
50
1,366
6,824
36, 020
7,969
8,150
52, 677
2,521
26, 059
1, 000, 066
13,615
103
495
24
410
2,150
5,906
989
640
39, 408
577
3,539
153, 021
8,001
157
(M)
6
74
1,928
2
216
39
(14)
3,110
3,110,359
1,067,920
166, 564
106, 744, 856
12, 845, 978
35 2, 993, 972
1, 723, 000
1,455,487
498, 844
1,922,699
4, 398, 335
57, 227
3, 248, 417
472, 290
111,404
576, 275
96, 358
36 19, 720, 577
1, 709, 059
114,968
41, 499
12, 850
56, 692
5, 631
25, 643
128, 456
832
128,564
216, 633
912
8,571
1,195
207, 314
605, 967
8,066
5,245
806
15, 572
729
4,685
51,019
354
37, 435
88, 391
' 780
2, 488
121
31,620
119, 210
5,209
1,569
239
3,493
485
2,284
7,779
29
3,883
3,982
510
1
3' 156, 865, 720
2, 658, 820
853, 276
157, 121
18,316,100
18, 111,095
330, 0.30
451, 539
450, 123
19, 255
214, 644
214, 210
2, 690
9, 443
9,437
3,195
2, 947, 568
797, 000
64, 149
3, 359, 186
81,842
23, 173
368
38, 849
7, 167, 902
144, 232
11,148,198
6, 518, 177
157, 860
307, 307
308, 208
1,659
37, 234
10, 791
46
21,873
69, 942
144, 702
145, 484
40
1,333
393
5
402
2,133
7,310
4,030
859
787,098
53,197
21
183
16
575
1,549
17, 656
428
468
3,166
170
6,876
871,404
601, 620
35, 593
10, 208
3,396
19, 140
1,075
6,684
30, 099
86
26, 889
17, 274
18
1,602
429
59, 871
813, 983
57, 421
56, 831
4,562
10, 199
2,804
103
5,959
19, 065
38, 356
17, 955
273
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
75
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
WITH NET INCOME 3
thousands of dollars]
Major industrial groups «— Continued
Mining and quarrying—
Continued
Manufacturing
Crude petro-
leum and
natural gas
production
Nonmetal-
lic mining
and
quarrying
Mining
and quar-
rying not
allocable
Total man-
ufacturing
Food and
kindred
products
Beverages
Tobacco
manu-
factures
Cotton
manu-
factures
2,134
960
28
58, 042
6,220
1,908
137
717
1
524. 360
105, 375
8
290
6
323
2,691
8,144
6,304
6,394
8,591
1,771
10, 126
299, 188
19, 746
5
81
4
53
357
2,383
237
391
1,457
3
2,365
2,948
753
86. 989, 225
1, 972, 359
1,349
10, 841
1,204
8, 506
101,421
232, 957
15,847
26, 405
498, 578
81,240
395, 590
12,651,186
66, 365
41
719
74
779
10, 354
17, 920
1,405
2,150
36, 653
13, 104
50, 471
2,080,835
7,039
20
209
8
197
2,281
3,488
199
839
2,830
140
11,898
1,545,384
1,607
10
325
46
112
2,553
2,588
221
61
4,483
753
6,622
1,915,639
8,127
12
170
3
212
1,545
6,968
250
552
2,369
41
10,511
2
3
4
1
(H)
(14)
2
4
9
42
17
5
6
7
8
9
10
11
12
42
14
674, 382
326, 269
3,819
90, 335, 521
12, 851, 221
2, 109, 982
1, 564, 765
1, 946, 400
15
210, 448
55, 243
13, 541
5,906
6,901
1,892
9, 831
30, 038
211
46, 802
96, 889
4
3,203
306
75, 464
169, 777
10, 390
10, 787
2,481
11, 569
1,442
2,119
9,426
152
13,416
9,945
111
760
337
31,586
2,036
467
150
24
18
8
40
96
1
138
152
62, 626, 181
1, 245, 514
1, 241, 867
311,579
1, 150, 549
171,630
324, 896
2, 249, 819
28, 755
1,564,914
213,009
87, 783
199, 257
52, 651
8,256,042
10,358,153
15, 856
98, 077
31,445
95, 333
23, 430
33, 802
182, 197
2,528
133, 359
318
535
31,942
7,831
1,175,411
1, 164, 974
1,841
31, 020
5,492
13, 900
4,478
11,012
323, 707
1,066
35, 822
3
81
1,395
951
309, 875
1, 144, 368
135
5,329
1,298
2,034
606
6,062
107, 749
265
7,556
1, 502, 063
3,141
17, 782
1,548
22, 514
1,308
7,025
40, 242
272
33, 789
11
214
1,881
3,317
96, 460
16
17
18
19
20
21
22
23
24
25
?fi
97
10
2
324
372
272
121,922
28
29
30
556, 679
274, 297
3,464
79, 724, 446
12, 190, 218
1,905,616
1, 397, 967
1, 731, 567
31
117,704
117,375
7,359
51,972
51,915
1,428
355
355
20
10, 611, 075
10, 601, 366
140,712
661, 003
660, 150
11,432
204, 367
204, 161
3,473
166, 798
166, 640
108
214,833
214,618
9,349
32
33
34
23, 500
6,509
36
2,825
9,511
2,656
179
7,784
66
19
(H)
7
1, 755, 334
444, 862
42, 695
2, 702, 957
129, 288
31, 281
2,046
69, 932
42, 397
9,332
313
• 19, 577
34, 606
10, 105
8
18,003
40, 760
6,323
673
44, 157
35
36
37
38
32, 870
20, 130
91
4, 945, 848
232, 546
71,618
62, 722
91,913
39
84,833
117,415
1,033
31, 842
23,275
314
264
49
5, 665, 227
2,815,318
75, 769
428, 457
271, 483
2,636
132, 748
69, 385
663
104, 076
94, 639
122, 920
41,112
847
40
41
4?
76
STATISTICS OF INCOME FOR 1941, PART 2
Table S.— Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART II. RETURNS WITH
[Money figures in
Major industrial groups '—Continued
Manufacturing — Continued
Textile-
mill
products,
except
cotton
Apparel
and
products
made from
fabrics
Leather
and
products
Rubber
products
Lumber
and
timber
basic
products
Number of returns '>
Receipts:
Gross sales '^
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable 's
Subject to declared value excess-
profits tax and surtax. '9
Subject to surtax only -''
Wholly tax-exempt ^i
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital
assets. 24
Dividends, domestic corporations 2s...
Dividends, foreign corporations 2«
Other receipts 2'
Total compiled receipts *
Deductions:
Cost of goods sold 28
Cost of operations 2s
Compensation of officers
Rent paid on business property.
Repairs 2«
Bad debts
Interest paid -..
Taxes paid 3o.._
Contributions or gifts ^i
Depreciation
Depletion
Amortization 32 _ .
Net long-term capital loss 23
Net loss, sales other than capital
assets. 21
Other deductions 33_.
Total compiled deductions
Compiled not profit (15 less 31)
Net income 3 [;« less (6+7)]-
Net operating loss deduction 34
Normal tax '
Surtax » -.-
Declared value excess-profits tax-.*.
Excess profits tax ' ..:..
Total tax
Compiled net profit less total tax (32 less
391.
Dividends paid: *
Cash and assets other than own stock >_
Corporation's own stock _
5,791
1,562
419
1,924
3, 857, 310
51,119
22
250
14
221
2,784
5,393
896
1,186
3,960
1,444
20,894
3, 007, 625
35, 507
6
122
4
81
1,102
5,419
107
261
1,841
160
11,806
3, 945, 494
3, 064, 042
3,010,771
30, 809
70,823
10, 506
39, 932
3,803
15, 807
64, 136
1,467
55, 692
49
236
6,409
6,147
272, 509
2,421,152
26, 453
95, 786
22,315
5,525
5,076
8,041
35, 042
1, 067
11, 639
32
100
1,605
316
295, 783
3, 589, 095
2, 929, 932
350, 399
350, 103
13, 524
134, 109
134, 024
5, 525
63, 556
14, 993
2,742
72, 153
24, 210
5,148
1,090
18, 862
153, 444
49,311
67,613
4, 116
84, 798
24, 095
3,163
1, 635, 785
4,717
3
90
2
90
937
1,259
102
121
1,755
7
8,479
1, 653, 983
2,685
63
3
30
1,404
2,980
70
47
6,221
5,921
5,379
1, 385, 417
26,314
11
170
6
124
1,771
7,180
2,681
5,273
3,949
173
12,075
1, 653, 345
1, 678, 794
1, 445, 143
1, 345,787
2,713
31,542
6,469
11,377
2,213
4,918
23, 179
471
10, 893
8
36
1,035
693
117,289
1,153,947
394
11,961
5,468
22, 768
5,260
7,815
75, 109
345
28,484
539
373
1,129
806
210, 981
972,714
13,288
28, 756
3,097
11.839
4.807
7,031
29, 386
430
29, 627
29, 856
196
5,997
989
139, 679
1, 558, 622
1, 525, 382
1,277,693
94, 723
94, 632
4,000
153,412
153, 378
1,362
167, 451
167, 320
5,990
18, 720
2,818
799
9,857
28,397
5,560
397
30,287
29, 157
7,732
815
33, 462
32, 195
64, 640
62. 529
27. 935
1,004
88, 772
35, 862
174
71, 166
96, 284
51,601
1,488
For footnotes, sec pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
77
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NET INCOMES— Continued
thousands of dollars]
Major industrial groups '—Continued
M anuf acturing— C ont inued
Furniture
and
Paper and
Printing
and
publishing
industries
Chemicals
Petroleum
Stone, clay.
Iron, steel.
Nonferrous
metals and
their
products
finished
allied
and allied
and coal
and glass
and
lumber
products
products
products
products
products
products
3,003
1,892
6,201
4,227
412
2,155
5,254
1,968
1
1, 678, 517
2, 710, 729
2, 042, 283
6, 208, 003
5, 997, 296
2, 167, 136
11,471,796
2, 722, 396
2
7,109
4,916
126. 396
42, 459
321, 479
8,516
52, 727
74, 174
3
40
42
104
100
50
81
110
45
4
188
578
. 957
1,286
754
513
1,078
280
5
18
34
52
241
140
65
67
26
6
257
188
796
1,415
383
274
596
174
7
1,346
5. 529
3,381
8,680
14, 625
2,057
9,515
2,380
8
2,262
6,584
10, 323
16, 573
53, 594
5.672
19,943
2,658
9
477
966
1,073
1,497
1,116
936
690
462
10
738
1,253
760
819
2,528
1,328
2,450
295
11
2,469
7,585
17, 946
72,658
189, 231
9,362
28, 882
17, 381
12
310
1,899
1,234
7,898
2,795
5,415
4,068
6,502
13
10, 404
15, 046
20, 170
22, 431
28, 913
12, 461
37, 749
7,934
14
1, 704, 135
2, 755, 348
2, 225, 476
6, 384, 061
6, 612, 904
2, 213, 815
11, 629, 673
2, 834, 706
15
1, 224, 322
1, 864, 941
1, 327, 982
3, 962, 363
4, 199, 530
1, 407, 310
8, 276, 783
2, 038, 346
16
3,738
1,415
60, 043
6,117
171,710
4,354
30, 451
38, 945
17
48, 125
51, 077
90, 345
88, 159
15. 390
41, 501
159, 718
45, 260
18
8,746
10, 012
23, 704
16, 801
62, 469
6,178
36, 202
7,187
19
15, 237
56, 111
9,517
75, 760
87,282
45, 314
287. 675
35, 053
20
4,695
5,692
8,301
15, 102
17, 446
4,915
11,924
3,302
21
5,879
16, 437
11, 303
17, 134
36. 470
7,098
80, 056
7,151
22
30, 324
55, 092
45,107
117,517
229, 963
45,882
223, 321
49, 028
23
631
1,357
1,687
2,242
917
988
3,449
1,072
24
21, 031
69, 450
38, 582
139, 768
268, 556
59, 226
251, 588
38, 266
25
975
3,466
38
5,744
161, 932
1,920
3,671
3,209
26
133
799
38
11,114
898
696
16, 726
9,933
27
1,634
18,411
3.583
12,419
29, 185
4,796
16, 215
4,680
28
1,541
2,122
761
2,136
2,797
1,477
8,298
1,051
29
193, 986
242, 847
389, 043
882, 097
771, 553
235, 760
682, 198
171, 255
30
1, 560, 997
2, 399, 231
2, 010, 035
5, 354, 472
6, 056, 098
1, 867, 417
10, 088, 275
2, 453, 737
31
143, 138
356, 117
215,441
1, 029, 589
556, 805
346, 398
1, 541, 398
380, %9
32
142, 863
355, 895
214, 593
1, 027, 932
556, 282
346, 059
1, 540, 734
380, 769
33
5,249
5,383
3,564
4,477
4,244
2,954
25, 898
2,085
34
25, 427
59, 933
40,818
170, 565
88, 387
59, 948
240, 328
59, 997
35
5,994
15, 519
11,475
45, 548
25,440
16, 349
65, 400
16, 682
36
1,243
1.490
375
1,985
288
654
9,826
1,075
37
25, 579
92, 866
16, 929
247,011
22, 976
82, 429
479, 903
112, 021
38
58,244
169, 809
69, 597
465, 109
137, 092
159, 380
795, 457
189, 775
39
84, 894
186, 309
145, 844
564, 480
419, 714
187, 018
745, 941
191, 194
40
30, 418
91,391
88, 503
336, 940
288, 639
107, 784
275, 064
83, 721
41
1,418
1,978
4,223
14, 205
15, 791
1,649
5,554
1,252
42
589783—44-
78
STATISTICS OF INCOME FOR 1941, pART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART II. RETURNS WITH
[Money figures in
Number of returns i^
Receipts:
Gross sales '9
Gross receipts from operations ''__
Interest on Government obliga-
tions:
Wholly taxable i'
Subject to declared value ex-
cess-profits tax and surtax. "
Subject to surtax only 20
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital
assets. 24
Dividends, domestic corporations 25.
Dividends, foreign corporations 26_
Other receipts 2?
Total compiled receipts *
Deductions:
Cost of goods sold 2'
Cost of operations 28
Compensation of olDcers
Rent paid on business property. _
Repairs 29
Bad debts
Interest paid
Taxes paid 3<'_ _
Contributions or gifts ^i
Depreciation
Depletion
Amortization ^2
Net long-term capital loss 23
Net loss, sales other than capital
assets. 24
Other deductions ''
Total compiled deductions
Compiled net profit or net loss (15
less 31).
Net income or deficits [32 less (6-f7)]-
Net operating loss deduction "*
Normal tax ^
Surtax 8
Declared value excess-profits tax
Excess profits tax '
Total tax
Compiled net profit less total tax (32
less 39).
Dividends paid: '
Cash and assets other than own
stock. 1
Corporation's own stock _
Major industrial groups '—Continued
Manufacturing — Continued
Electrical
machinery
and equip-
ment
1. 251
3, 672, 166
7,635
44
398
206
469
3,317
6,874
473
13, 376
3,264
11,811
3, 720, 893
2, 406, 390
3,062
41, 659
9,649
42, 576
3,209
4,588
97, 165
1,401
57, 524
14
5,082
7,503
1,908
372, 063
3, 053, 794
667, 099
666, 424
5,000
98, 356
27, 591
1,756
239, 918
367, 621
299, 478
145, 991
678
Machinery,
except
transporta-
tion equip-
ment and
electrical
4,622
6, 983, 516
87, 839
117
1,793
130
1,458
14, 491
35, 644
1,332
3,497
12, 474
8,573
36, 704
7, 187, 568
4, 374, 906
6,706
144, 363
15, 823
110,138
26, 483
16, 067
153, 839
3,677
111,073
411
14,975
19, 322
4,238
860, 898
5, 862, 918
1, 324, 651
1, 323, 063
8,941
210,819
47, 748
6, 865
433, 60P
699, 038
625, 613
255, 420
6,653
Automo-
biles and
equipment,
except
electrical
546
6, 447, 972
1,721
417
515
21
331
5,540
8,719
271
294
43, 400
14, 774
18, 783
6, 542, 757
, 992, 297
37
25, 361
4,590
83, 745
1,986
7,163
198, 366
1, 709
93, 036
642
8,297
9,233
683
250, 712
5, 677, 859
864, 899
864, 547
5,801
133, 366
36, 502
3, 195
206, 717
439, 780
425,119
257, 076
527
Transpor-
tation
equipment,
except
automo-
biles
2, 825, 235
1, 017, 773
21
154
25
159
3,039
5,326
383
472
10, 704
412
21, 729
3, 885, 433
1, 965, 407
816, 455
23, 147
8,818
58, 622
5,980
6,809
70, 308
524
38, 043
30
15, 076
4,869
2,490
135, 837
3, 158, 416
727, 017
726, 834
6,210
106, 496
23, 752
2,521
291, 778
424, 548
302, 470
94, 177
3,011
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
79
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NET INCOME'— Continued
thousands of dollars]
Major industrial
groups "—Continued
Manufac-
Public utilities
Trade
turing-Con.
Total
public
utilities
Other
public
utilities
_ Wholesale
Manufac-
turine not
allocable
Transpor-
tation
Communi-
cation
Total trade
Total
Commis-
wholesale
chants
1,599
12, 985
8,587
1,951
2,447
89, 475
27, 491
3,577
1
808, 323
162, 882
101, 635
7,487
53, 760
51, 551, 123
25, 099, 614
864, 193
2
3,284
13, 453, 127
7,915.301
1, 616, 564
3, 921, 262
911,497
' 579, in
300, 538
3
8
289
157
13
119
302
194
10
4
129
3,275
2,368
45
862
1,711
663
29
5
2
342
102
5
234
169
55
4
6
67
1,207
731
73
403
1,681
797
125
7
638
72, 325
44. 196
2,819
25, 310
76, 849
27, 029
5,916
8
1,804
251, 883
201,. 570
24, 594
25, 720
100, 743
22, 197
2,027
9
63
10, 007
7,376
384
2.246
5,739
2,425
254
10
305
28, 393
21,185
55
7,153
8,147
3,306
261
11
2,538
135, 812
74, 853
13, 755
47, 204
59, 241
33, 646
7,229
12
412
1,795
762
29
1,004
31,209
6,712
133
13
4,662
54, 425
35, 703
3, 008
15,714
504, 336
141,618
15, 368
14
. 822,234
14, 175, 762
8, 405, 941
1, 668, 830
4, 100, 991
53, 252, 745
25,917,726
1, 196, 086
15
561, 281
116, 763
69, 913
3,532
• 43,317
41,261,132
21, 736, 157
797, 316
16
1,478
7, 285, 772
4, 948, 742
747, 743
1, 589, 287
377, 957
213, 204
55, 920
17
27, 484
116.296
84, 459
9,424
22, 414
947, 125
424. 639
48, 406
18
3,566
462, 631
394, 447
31.710
36, 474
642. 189
90, 940
9,666
19
7,083
24, 996
20, 236
1,632
3,128
110.261
24. 680
1,193
20
1,901
23, 423
8,925
5,032
9,466
16.5. 464
62.917
5,033
21
3,048
852, 378
475, 648
47, 997
328, 732
129,514
52. 241
4,233
22
13, 641
1,035,461
486, 443
145, 525
403, 493
481. 126
147. 189
8,837
23
253
4,897
1,202
1, 0rj8
2,637
13, 623
4,902
522
24
10, 651
918. 176
298, 016
190, 256
429, 903
271,012
68, 091
3,712
25
134
13, 968
3,538
4
10,426
997
476
16
26
739
19.875
18, 038
9
1,827
1,308
416
31
27
898
152,320
141,498
1,136
9, 687
37. 824
16.418
3,708
28
909
9,599
6,824
845
1,930
8,388
3,540
624
29
100,071
1,056,394
534, 319
164,485
357, 590
6, 580, 416
2, 106. 873
177, 674
30
733, 137
12, 092, 947
7, 492, 248
1, 350, 387
3,250,312
51, 028, 339
24, 952, 689
1,116,891
31
89, 097
2, 082, 815
913, 693
318,443
850, 679
2, 224, 405
965, 036
79, 195
32
89, 028
2,081,267
912,859
318, 366
850, 042
2, 222, 556
964, 185
79, 066
33
2,446
64, 793
55, 268
1,247
8,279
53, 406
21,928
1,953
34
14, 539
416, 504
171, 259
65, 445
179.800
394,115
167, 518
12,100
35
3,940
120, 172
48, 880
19, 000
52, 292
106, 122
42,120
3,161
36
1,332
1,073
960
34
79
15.0.58
9, 5u0
380
37
20, 345
167, 434
87, 462
30, 770
49, 202
347, 943
169,811
16, 072
38
40, 156
705, 183
308, 561
115,249
281, 373
863, 238
388, 950
31,713
39
48, 941
1, 377, 633
605, 132
203, 194
569, 306
1, 361, 168
576, 086
47, 482
40
16, 991
1, 076, 225
344, 541
201,445
530, 240
577, 490
216, 599
21, 634
41
1,108
4,262
2,073
569
1,619
24, 243
14, 761
278
42
80
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART II. RETURNS WITH
[Money figures in
Number of returns '*.
Receipts:
Gross sales "
Gross receipts from operations ''
Interest on Government obligations:
Wholly taxable 18
Subject to declared value excess-
profits tax and surtax. '»
Subject to surtax only 2"
Wholly tax-exempt 21
Other interest- _
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital
assets. 24
Dividends, domestic corporations 25_ .
Dividends, foreign corporations 26
Other recei pts •''
Total compiled receipts ■*.
Deductions:
Cost of goods sold 28
Cost of operations 28
Compensation of ofBcers
Rent paid on business property
Repairs -^
Bad debts -.
Interest paid
Taxes paid 30_
Contributions or gifts ''
Depreciation
Depletion
Amortization 32
Net long-term capital losses
Net loss, sales other than capital
assets. -*
Other deductions ^^
Total compiled deductions-
Compiled net profit (15 less 31)...
Net income 3 [32 le.ss (6+7)]
Net operating loss deduction '■•.-.
Normal tax ' ,
Surtax'
Declared value excess-profits tax.
Excess profits tax '
Total tax.
Compiled net profit less total tax (32
less 39).
Dividends paid:*
Cash and assets other than own stock 8.
Corporation's own stock
Major industrial groups '—Continued
Trade — C ontinued
Whole-
sale—Con.
Other
whole-
salers
Retail
Total
retail
23,914
24, 235, 420
278, 933
185
633
51
672
21,113
20. 169
2,171
3,046
26, 417
6,579
126, 250
20, 938, 841
157,284
376, 233
81,274
23, 488
57, 885
48, 008
138, 351
4,380
64,379
460
385
12, 710
2,922
1, 929, 199
23, 835, 798
155,418
38, 959
9,120
153, 740
357, 237
528, 604
194,905
14,483
51,444
General
merchan-
dise
Food
stores,
including
market
milk
dealers
4,469
22, 556, 944
246, 781
890
95
635
44, 053
68,875
2,792
3,526
23,351
6,114
329, 138
23, 283, 283
16, 456, 703
133,014
423, 590
514, 540
76, 172
80, 986
65, 547
289, 644
7,715
175, 696
330
800
18, 710
4,123
3, 973, 112
22, 220, 683
189, 905
53, 652
4,147
158, 173
6, 725, 265
25,584
34
375
19
243
23,987
35, 566
681
778
10. 721
6,097
85, 681
6,915,029
4,413,243
7,872
60, 361
172,802
30, 373
23, 339
24, 184
116,446
3,476
62, 613
90
644
6,621
1,022
1,481,912
6, 405, 000
93, 042
26, 597
1,187
100, 427
405, 876
656, 724
296, 192
7, 116
221,253
4, 344, 532
19, 306
6
83
9
59
1,645
3,515
588
711
3,683
3
13, 939
3, 502, 497
11, 269
27, 176
54, 225
12,839
2,999
6, 061
38, 557
889
35, 077
3
15
7,134
823
601, 205
4, 300, 768
17, 245
4,941
114
7,480
29, 779
288, 775
158, 157
1,326
57, 533
38, 099
547
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941^ PART 2
81
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NET INCOME 3— Continued
thousands of dollars]
Major
industrial groups '—Continued
Trade— Continued
Retail— Continued
Drug
stores
Apparel
and acces-
sories
Furniture
and house
furnishings
Eating
and drink-
ing
places
Automo-
tive
dealers
Filling
stations
Hard-
ware
Building
materials,
fuel, and
ice
2,605
7,298
3,885
3,853
7,658
1,409
1,828
5,646
1
573, 966
2, 055, 546
869, 351
526, 402
4, 043, 603
309, 018
200, 801
1, 197, 919
2
2,522
17, 864
12, 298
33, 588
90, 953
3,671
1,405
13, 007
3
2
12
3
1
6
CO
1
13
4
9
105
33
22
50
86
2
44
5
(H)
6
6
3
1
36
CO
11
fi
8
61
35
7
12
48
33
51
7
433
1,380
2,747
160
5,879
138
769
2,518
8
1,451
10, 887
2,166
2,501
1,901
2,771
359
4,124
!
18
414
138
107
126
37
11
444
in
73
70
183
157
319
117
53
589
11
1,878
2,370
490
1,094
631
237
98
1,049
12
(»)
42, 016
00
3,436
6
32, 803
3
2,001
2
. 13,657
Y-
5,628
89, 694
2,723
14
585, 989
2, 130. 731
977, 145
567, 478
4, 176, 290
318, 164
206, 257
1, 233, 428
15
395, 376
1, 340, 868
493, 760
310, 138
3, 431, 633
233, 905
152, 837
914, 222
Ifi
1,253
8.943
3,998
20, 625
57, 576
1,974
769
8,523
17
12, 435
64,257
38, 507
20, 379
86, 538
5,404
9,146
40, 826
18
26, 504
119, 483
27, 044
30. 538
33, 814
4,789
3,187
6,145
If
2,010
5,852
2,257
5,430
5, 957
1,946
245
5,425
20
453
9,051
9,531
486
11,045
818
1, 353
9,475
21
833
4,241
4,900
1,341
11,311
635
903
5,596
22
7,953
25, 447
16, 163
13, 060
25, 807
6,251
2,451
16, 525
2,-^
127
993
659
140
535
45
55
347
2A
5,740
15, 375
5,419
11, 547
10, 086
4,732
1,071
12, 360
25
6
17
2
12
15
13
1
54
26
(14)
225
83
995
5
459
306
10
1,144
40
1,075
n
228
30
28
111
323
120
131
959
34
25
369
29
109, 166
430, 097
316, 606
130, 767
399, 400
42,400
24,429
159, 500
30
562, 191
2, 026. 024
919, 431
544,900
4, 075, 830
303, 174
196, 501
1. 180, 485
31
23,798
104, 707
57, 714
22, 577
100, 460
14.990
9,755
52, 943
32
23, 789
104, 641
57. 673
22, 568
100, 447
14, 905
9,722
52, 882
33
825
4,433
2,555
1,345
3,379
302
428
1,994
34
4,402
18, 369
10, 378
4,027
16,119
2,814
1,504
9,160
35
808
5,009
2,951
1,033
4,713
824
462
2,615
36
91
443
389
91
514
36
129
420
37
1,519
12,976
5,301
966
15, 728
1,522
869
3,037
38
6,819
36, 797
19,019
6,117 1 37,074
5,196
2,964
15, 232
39
16, 979
67, 910
38, 695
16, 460
63, 386
9,793
6,792
37, 712
40
7,995
21, 787
8,990
7,221
18, 923
4,947
2,514
14,590
41
62
1,535
1,188
34 686
30
84
895
42
82
STATISTICS OF INCOME FOR 1941, PART 2
Table 3.—Corporatwn returns, 1941, by viajor industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART II. RETURNS WITH
[Money figures in
Major industrial groups '—Continued
Trade — Continued
Retail— Continued
Other re-
tail trade
Retail
trade not
allocable
Trade not
allocable
Service
Total
service
Number of returns '^
Receipts:
Gross sales '8_-_
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable 's .
Subject to declared value excess-
profits tax and surtax. '9
Subject to surtax only so
Wholly tax-exempt ^i
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital assets 2*
Dividends, domestic corporations 25
Dividends, foreign corporations 20
Other receipts 2?
Total compiled receipts *.-
Deductions:
Cost of goods sold 28
Cost of operations 28
Compensation of officers
Rent paid on business property
Repairs 29_._
Bad debts
Interest paid
Taxes paid 'o
Contributions or gifts 3i
Depreciation
Depletion
Amortization 32
Net long-term capital loss 23
Net loss, sales other than capital assets ^*
Other deductions 33.
Total compiled deductions
Compiled net profit (15 less 31)
Net incomes [32 less (6-|-7)]
Net operating loss deduction '*
Normal tax '-
Surtax 8
Declared value excess-profits tax
Excess profits tax '
Total tax
Compiled net profit less total tax (32 less 39).
Dividends paid: «
Cash and assets other than own stock '_
Corporation's own stock
5,240
3,565
10, 540
19, 111
968, 187
20,184
4
66
2
58
3,188
2,277
87
250
623
2
22, 927
668, 658
5,242
7
15
1
21
1,208
1,279
125
184
475
(14)
14, 502
3, 894, 565
85, 245
19
158
20
248
5,767
9,671
522
1,314
2,244
18, 382
33, 580
489, 157
2, 485, 470
54
262
22
384
6,089
54, 877
1,452
2,411
24, 102
2,920
39, 978
1, 017, 855
691, 717
4, 051, 736
3, 107, 176
670, 893
6,718
39, 455
26,209
2,201
8,280
3,089
13, 091
274
6,587
4
3
374
154
185, 291
538, 648
2,513
15, 571
8,106
1,542
4,111
2,287
6,587
166
4,737
113
118
43
85, 630
, 068, 272
31, 738
98, 896
36,710
9,409
21, 561
11,726
44,294
1,007
27, 226
191
92
2, 696
719
500, 431
265, 128
1, 353, 939
157, 420
137, 091
33, 324
11,376
32, 573
87, 797
1,464
94, 334
285
246
13, 412
812
658, 082
962, 624
670, 172 3, 854, 967
2, 847, 283
55, 231
55, 171
2,621
21, 545
21, 524
973
196, 769
196, 501
5,173
259, 893
2.59, 487
9,443
9,156
2,568
512
7,263
3,479 36,692
1,062 10,350
205 1,410
1,060 19,959
40, 883
11,161
763
16, 788
19, 499
5,806
35, 732
,703
458
15, 739
4, 153
272
B, 411
75, 595
128, 358
64, 699
2, 367
184, 297
96, 563
4, 589
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
83
returns with net income, and retzirns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NET INCOME'— Continued
thousands of dollars]
Major industrial groups '—Continued
Service — Continued
Automotive
Miscellane-
Amuse-
Other serv-
ice, includ-
ing schools
Personal
Business
repair serv-
ous repair
Motion
ment, ex-
Service not
service
service
ices and
services.
pictures
cept motion
allocable
garages
hand trades
pictures
4,525
3,569
1,533
. 937
2,561
2,032
1,659
83
1
124, 172
62, 532
52, 751
32. 694
50, 727
26, 617
15, 581
2,411
2
414, 663
612, 623
50, 860
51, 380
784, 770
174, 537
146,013
5,106
3
9
17
6
(14)
8
3
5
4
37
4
89
6
3
(14)
2
(14)
41
3
11
(14)
52
6
5
fi
48
260
59
1,651
3
66
1
44
228
2,805
5
556
32
233
7
5
8
1,197
9,118
2,042
80
16, 924
3,554
972
61
c
105
273
80
50
187
295
74
1
K
291
417
283
58
439
270
77
6
11
474
2,997
26
10
18, 667
375
328
(14)
12
3
294
6
2,542
2
73
(")
la
4,061
6,183
2,092
407
14, 978
3,633
2,903
36
14
545, 324
696, 259
108, 213
84, 731
892,317
209,858
166, 350
7,628
16
62,905
43, 525
34, 947
22,019
7,305
13, 582
9,473
l,64r
16
229, 141
335, 962
23, 228
32,410
479, 519
81,814
69, 449
1,541
17
36, 804
51, 533
6,478
6,740
17, 408
11, 195
16, 087
1,093
IS
13, 725
14, 160
10, 903
1,166
68, 586
9,339
5,122
239
19
7,009
3,061
1,197
342
5,387
3,001
1,258
31
20
2,578
2,002
477
315
3,134
488
1,172
41
21
3,129
1,663
907
301
12, 126
1,841
691
15
22
14, 543
11,612
2,812
1,628
22, 229
10, 730
3,829
144
23
297
337
35
24
251
307
72
3
24
18, 650
11, 988
4,554
1,610
22, 444
8,581
3,533
86
25
11
4
231
150
3
1,301
1
16
29
8
202
10, 565
38
19
2
406
1
VH
97
20
282
1
28
155
98
28
7
232
153
26
(14)
29
126, 743
163, 879
17, 371
11, 269
158, 194
43, 348
39, 385
2,308
30
515, 924
641, 275
102, 956
77, 878
797, 590
184, 700
150, 525
7,147
31
29, 400
54, 984
5,257
6,854
94, 727
25, 157
15, 824
481
32
29, 348
54, 919
5,254
6,852
94, 496
25, 153
15, 787
481
33
1,619
1,351
384
246
1,561
1,371
612
34
34
4,946
10, 446
749
1,074
17, 678
4,510
2,737
82
35
1,391
2,860
237
319
3,112
1,128
869
26
36
127
93
26
120
146
78
103
5
37
1,362
3,788
607
1,049
3,609
3,181
1,751
16
38
7,825
17, 188
1,619
2,561
24, 545
8,897
5,460
129
39
21, 574
37, 796
3,639
4,292
70, 182
16, 260
10,365
352
40
7,574
24,548
739
952
44,160
7,904
3,714
177
41
137
756
23
79
887
(14)
2,187
42
84
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART II. RETURNS WITH
(Money figures in
Number of returns is
Receipts:
Gross sales i"
Gross receipts from operations ''
Interest on Government obligations:
Wholly taxable 's
Subject to declared value excess-profits
tax and surtax. "
Subject to surtax only 2"
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital
assets. 24
Dividends, domestic corporjitions 25
Dividends, foreign corporations 26
Other receipts ^'
. Total compiled receipts ■•-
Deductions:
Cost of goods sold 28__
Cost of operations 28_
Compensation of officers
Rent paid on business property
Repairs 29
Ba.i debts
Interest paid..
Taxes paid so •.
Contributions or gifts si
Depreciation
Depletion _
Amortization 32
Net long-term capital loss 23
Net loss, sales other than capital assets 24.
Other deductions "
Total compiled deductions
Compiled net profit or net loss (15 less 31)
Net income or deficit ' [32 less (6+7)] ._.
Net operating loss deduction 34
Normal tax '
Surtax 6
Declared value excess-profits tax..
Excess profits tax '
Total tax
Compiled net profit less total tax (32 less 39) .
Dividends i)aid: '
Cash and as.sets other than own stock 9...
Corporation's own stock
Major industrial groups '—Continued
Finance,
msurance. real estate, and lessors of
real property
Total finance,
insurance,
real estate,
and lessor.' of
real property
Finance
Total
finance
Banks and
trust com-
panies
Long-term
credit agen-
cies, mort-
gage com-
panies, ex-
cept banks
66, 304
22, 926
11,672
1,247
83, 253
3, 070, 400
27, 263
279, 215
53, 745
135, 544
1, 257, 359
766, 125
87, 192
67, 167
1, 305, 092
51,442
141, 465
28, 167
817, 983
26, 479
254, 465
52, 096
122, 720
1, 162. 155
133, 758
73, 723
37, 002
1, 215, 179
50, 167
71,024
255, 503
25, 878
251, 345
50, 976
117,811
813, 035
69, 422
52, 859
3,222
19, 799
431
38, .361
11,316
21
48
5
77
11, .316
1,097
869
562
208
1,709
7. 325, 262
4, 044, 916
1, 698, 642
27, 229
58, 707
223, 352
35 345, 672
129, 461
53, 698
ll;i, 164
539, 881
363, 517
6,601
211, 860
2.5, 016
673
156, 952
21.825
36 2, 688, 959
• 18,705
136, 608
230, 929
65, 857
12, 874
106, 116
372. 278
142,209
5, 170
70, 030
1,608
107
105, 652
15, 826
859, 695
253
162, 096
36, 641
10. 602
70, 778
162, 652
94, 621
3,100
40, 589
134
2
56, 173
12, 493
533, 607
571
3, 656
684
1.59
568
3,773
1,028
19
470
3
86
164
10, 316
3' 4, 939, 337
2, 143, 664
1, 183, 743
21, 499
2,385,925
2, 196, 636
25, 455
1,901,251
1, 726, 436
8,069
514, 899
346, 111
2,535
5,730
5,648
388
203, 601
77, 928
1,274
40, 850
126, 846
53, 978
658
28, 938
24, 6.39
25, 232
293
1,430
988
304
12
35
323, 653
210,419
51, 595
1,340
2. 062, 272
1, 575, 419
43, 513
1, 690, 832
1, 301, 829
38, 859
463, 304
220, 076
13, 699
4,390
2,894
226
For footnotes, see pp. 234-236,
STATISTICS OF INCOME FOR 1941, PART 2
85
retitrns loith net income, and returns with no net income: Numher of returns, corn-
deficit, and dividends -paid by type of dividend; also, for returns with net income:
ezcess profits tax, total tax, and compiled net profit less total tax — Continued
NET INCOMES— Continued
thousands of dollars]
Major
industrial groups «— Continued
Finance,
nsurance, real estate, and lessors of real property— Continued
■
Finance — C
ontinued
Insurance
agents
carriers,
, etc.
•
Short-term
credit
agencies,
except
Invest-
ment
trusts and
invest-
ment com-
Other in-
vestment
companies,
including
holding
Security
and com-
modity-ex-
change
brokers
Other
finance
companies
Finance
not
allocable
Total
insurance
carriers,
agents, etc.
Insurance
carriers
panies 11
com-
panies 1' '2
and dealers
3,436
2,322
1,488
824
657
1,280
4,490
821
1
6,300
257, 679
16,194
176,511
5,673
5,709
?
1,167
96, 545
13, 554
1,742,447
1, 560, 365
3
40
154
304
27
2
53
628
619
'4
41
1,010
1, 667 .
144
34
176
23, 759
23, 737
5
10
123
818
128
6
31
1,531
1,527
6
91
1,061
1,0.53
1,396
12
1,218
11, 580
11, 559
7
154,035
18,078
154,978
2,783
684
7.245
77, 857
76, 777
8
1,159
2,540
15,927
497
39. 379
3,735
21, 202
19, 860
9
385
7,261
9,945
964
163
1,277
3,656
3,177
10
509
204
604
29, 770
880
1,251
149
44
11
9,289
179. 337
987, 499
3,937
13. 076
2,035
76, 056
72, 569
12
56
5,583
43, 904
23
156
13
1,155
938
13
12, 919
1,963
9, 542
3,732
918
1,880
14, 028
7,418
14
442, 512
218, 482
1, 418, 946
139, 946
66, 692
32, 467
'3 1,974,048
13 1, 778, 591
15
3,838
1,479
10, 892
3,974
16
33
70, 711
62, 065
780
715
21.125
704
17
22, 658
5,532
13, 159
18, 304
2,684
2,840
35 46, 425
35 8, 549
18
■8,912
447
15,177
2,724
423
849
18, 749
12, 730
19
654
64
, 1,052
85
109
148
1,335
964
20
26, 880
2.664
3.264
376
1,135
452
2,706
1,584
21
51,157
16, 429
133, 725
1,822
619
2,100
5,128
4,168
22
12,199
4,158
24, 522
3,078
1,330
1,272
56, 603
52, 315
23
472
522
906
112
25
12
651
452
24
3,410
540
21,181
417
3,038
384
7,284
5,800
25
2
307
991
37
26, 298
316
153
68
552
11
9
(H)
43, 364
5
26
27
1,044
20, 923
260
42, 674
28
362
1,306
1.067
225
89
119
l; 651
1,569
29
166,435
13, 554
73, 209
36, 244
15, 167
11,163
36 1,572,259
36 1, 487, 302
30
299, 501
66, 479
396, 194
125, 777
30, 146
20, 326
371,777,290
3' 1,618,817
31
143,011
152, 003
1,022,752
14,169
36, 546
12, 141
196, 758
159, 774
32
142,910
150,819
1,020,881
12,646
36. 528
10, 892
183, 646
146, 687
33
852
349
2,074
930
477
493
2,631
2,086
34
27, 963
5,687
58,399
1,837
5, 439
1,893
23, 873
17,111
35
7,573
1,662
16, 709
465
1,492
540
8,274
6,271
36
67
12
179
19
64
12
100
14
37
11,653
42
14, 108
283
1,345
41
4,314
1,964
38
47, 257
7,402
89, 395
2,604
8.341
2,486
36, 561
25, 360
39
95, 754
144, 601
933, 357
11, 565
28,206
9,654
160, 197
134, 414
40
75, 771
145, 892
820, 578
8,140
17, 454
11,024
107,116
89,501
41
406
1,026
22, 938
240
37
287
2,143
1,977
42
86
STATISTICS OF INCOME FOR 1941, PART 2
Table B —Corporation returns, 1941, hy major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART II. RETURNS WITH
[Money figures in
Major industrial groups '—Continued
Finance, insurance, etc.— Continued
Insurance
carriers, etc-
Conttnued
Number of returns 's.
Receipts:
Gross sales '^
Gross receipts from operations '"
Interest on Govenmient obligations:
Wholly taxable " -■
Subject to declared value excess-profits tax ana
surtax."
Subject to surtax only 20 --
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital assets 2'
Dividends, domestic corporations 25
Dividends, foreign corporations 28
Other receipts 2'
Insurance
agents, brok-
ers, etc.
Total compiled receipts *.
Deductions:
Cost of goods sold 28
Cost of operations 23
Compensation of officers
Rent paid on business property
Repairs 29
Bad debts
Interest paid
Taxes paid 3"
Contributions or gifts 3i
Depreciation
Depletion
Amortization 32
Net long-term capitalloss 23
Net loss, sales other than capital assets 24.
Other deductions 33
Total compiled deductions-
Compiled net profit (15 less 31)...
Net income 3 [32 less (6-|-7)]
Net operating loss deduction 3*. . .
Normal tax'
Surtax 6
Declared value excess-profits tax.
Excess profits tax '
Total tax.
Compiled net profit less total tax (32 less 39) .
Dividends paid: « ^ , .
Cash and assets other than own stock ».-
Corporation's own stock
3,669
182, 081
23
4
21
1,080
1,341
479
104
3,487
217
6,609
Real estate,
including
lessors of
buildings
195, 457
20, 421
37, 876
6,019
371
1,121
960
4,288
199
1,484
4
(14)
690
82
84, 957
35, 861
49, 931
503, 721
125
732
108
1,087
15, 654
443, 103
8,177
28, 621
11,104
88
22, 665
Lessors of
real prop-
erty, except
buildings
3,027
5,155
6,250
31
259
9
157
1,693
168, 063
1,637
1,395
2, 753
32
33, 749
1,085,116
221, 182
158,473
36, 984
30, 959
545
6,762
2,004
87
2,349
11,202
25, 782
17,615
166
3Q, 301
65, 229
64, 788
42, 633
38, 267
4,068
129,235
148, 961
720
128,709
414
557
7,076
4,220
241,082
912, 260
172, 857
171,661
13,190
28,126
8,478
461
2,909
39, 973
132, 883
73,102
2,490
3,701
389
3,530
2,222
1,222
275
33, 239
15,744
61
5,837
22, 985
9
859
127
15,923
106, 123
115,0.TO
114, 893
1,536
24, 757
7,198
55
4, 690
36, 699
78, 300
93, 372
20
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
87
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NET INCOME 3— Continued
thousands of dollars]
Major industrial groups » — Continued
Agriculture, forestry, and fishery
Nature of busi-
Construction
Total agricul-
ture, forestry,
and fishery
Agriculture
and services
Forestry
Fishery
ness not allo-
cablCj
8,203
3, 944
3, 593
202
149
2,176
1
376, 444
492,353
460, 278
8,412
23, 664
89, 652
2
2, 642, 077
105, 500
97, 786
2,861
4,853
44, 140
3
28
34
27
8
(14)
127
4
192
708
704
4
1
125
5
15
399
6
126
5
116
1
3
14
228
6
6
7
2,032
1,818
1,547
231
40
2,812
8
10, 025
8,947
8,391
235
322
6,210
9
940
2,622
1,172
1,430
20
1,950
10
6,723
1,557
795
683
80
1,935
n
6,391
8,504
8,376
99
29
2,229
12
191
513
503
10
(")
11
13
44,998
8,089
7,297
492
301
5,330
14
3, 089, 455
630, 777
586. 997
14, 466
29, 314
154,763
15
292, 644
346, 962
320, 779
6,229
19. 954
68, 281
16
2, 197, 233
32,417
29, 179
1,075
2,163
14, 827
iV
113, 970
17,787
16, 483
488
816
12, 336
18
9,260
15,946
15. 777
49
120
1.992
19
14, 859
9,958
9,400
35
522
1,149
20
6.070
2,048
1,803
169
76
1,038
21
8,222
7.472
7, 108
202
163
2,121
22
34, 173
13, 905
12, 939
647
320
4,080
23
858
121
110
7
4
76
24
35,331
20, 717
19, 830
297
590
3, 509
25
380
1,673
635
1,038
1
330
26
556
5,295
2
1,656
2
1,623
49
987
'/'!
9
24
28
4%
895
774
114
6
498
29
171 132
77, 340
73, 658
1>297
2,385
24, 899
30
2,889,477
548, 899
510, 100
11,655
27, 143
136, 172
31
199, 978
81,879
76. 897
2,811
2,171
18, 591
32
199, 564
81, 747
76, 775
2,807
2,165
18, 349
33
11,532
4,041
3,486
423
132
1,391
34
31, 923
14, 536
13, 685
480
371
2,830
35
8,695
4.088
3,845
137
106
799
36
2,213
590
517
13
59
115
37
39, 236
3,732
3,430
88
213
1,396
38
82, 067
22, 945
21, 478
719
749
5,140
39
117, 910
58, 933
55, 419
2,092
1,422
13, 451
40
31, 981
30,855
28, 805
1,621
429
6,119
41
2,661
1,020
1,020
144
4?
88 STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by inajor industrial gro^ips, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART III. RETURNS WITH
[Money figures in
Number of returns ''
Receipts:
Gross sales '6 __'.
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable '«
Subject to declared value excess-
profits tax and surtax. >*
.Subject to surtax only 20
Wholly tax-exempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than capital assets 24
Dividends, domestic corporations 23
Dividends, foreign corporations 26
Other receipts "
Total compiled receipts <
Deductions:
Cost of goods sold 2?
Cost of operations 28
Compensation of ofRcers
Rent paid on business property
Repairs 2»
Bad debts
Interest paid
Taxes paic} 30
Contiibutions or gifts ^i
Depreciation
Depletion -. ._.
Amortization 32
Net long-term capital loss 22
Net loss, sales other than capital assets 24.
Other deductions 33
Total compiled deductions
Compiled net loss (15 less 31)
Deficit 3 f;j21ess (6+7))..
Dividends paid:^
Cash and assets other than own stock '. .
Corporation's own stock
Major industrial groups '
All
industrial
groups
204, 278
Mining and quarrying
Total
mining
and
quarrying
5,279
8, 324, 588
4, 494, 211
8,748
169, 684
7,545
129, 629
1, 037, 333
690, 720
28, 965
33, 491
143, 340
10, 989
170,954
15, 250, 197
6, 572. 235
2, 294, 771
35 477. 839
358, 952
142,411
236, 738
701,616
626, 323
1,271
516,923
71 , 458
2,406
429,614
200, 352
' 4, 258, 668
3" 16, 891, 575
1,641.379
1, 778, 553
182, 610
21,080
648, C89
107, 060
4
131
1
50
1,520
16,014
1, 505
2,642
2,738
112
9,282
789, 146
458,132
80, 432
n. 086
4,830
14, 149
3,377
22, 622
35, 843
47
51, 341
54, 573
380
10, 703
4, 647
106, 204
860, 367
71,221
71,272
13,612
109
Metal
minmg
955
72, 448
6,478
10
60
528
75
263
353
80, 799
48, 729
4,716
940
258
1, 845
53
900
5.435
(.4)
4,123
7,949
201
2, 063
668
15, 120
93, 001
12,202
12,212
2,134
Anthra-
cite
mining
73
87, 954
5,655
1
143
2,793
0*)
22
159
780
97, 550
72, 344
5,227
511
368
2,219
336
4.517
3,762
(H)
2,377
3,068
1,798
16
4.567
101,111
3,561
3,562
Bitumi-
nous
coal, lig-
nite, peat
etc.
863
291,463
31, 574
1
38
1
25
718
8,117
18
522
1,077
(H)
2,788
336, 343
236, 158
26, 562
2,255
1,346
7,413
1,624
4,476
14, 783
22
13, 506
10, 047
167
3,347
1,311
27, 581
350, 497
14, 154
14, 180
2,716
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
89
returns with net income, and returns toith no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for reixirns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NO NET INCOME 3
thousands of dollars]
Major industrial groups '—Continued
Mining and
quarrying—
Continued
Manufacturing
Crude pe-
troleum and
natural gas
production
Non-
metallic
Mining and
Total
Food and
Tobacco
Cotton
mining
quarrymg
manu-
kindred
Beverages
manu-
manu-
and
quarrying
not allo-
cable
facturing
products
factures
factures
2,548
645
195
26. 389
3,546
984
117
67
1
161, 307
28,770
6,148
2,911.756
644, 730
152, 924
18, 982
19,645
2
57, 722
4,834
797
150, 017
15, 384
1,542
22
61
3
(H)
46
28
190
4
26
0*)
1
.j
1
(14)
('<)
"i
(H)
12
569
(14)
1
2?
4
144
4,689
1
17
396
6
(14)
107
""*
2
40
7
49
8
4,291
245
39
10, 930
. 1.551
464
21
93
9
1.387
24
1
1.224
269
91
(14)
2
10
1.629
204
1
3.362
189
73
6
1
11
1,093
55
C^)
3,516
105
59
37
9
12
28
4,756
(»)
387
133
20, 555
8
3.021
1
966
11
76
75
108
14
232, 841
34, 550
7,064
3, 106, 549
665. 700
156, 228
19, 193
19. 961
15
74. 818
21.114
4,969
2, 278. 279
529, 615
87, 900
15, 097
17, 072
16
40. 167.''
3,181
579
94, 378
10. 392
772
(14)
51
17
7, 514
1, 783
83
100. 021
12. 448
3.369
652
244
18
2,573
268
17
31.748
4, 129
'965
156
31
19
1.362
1,066
243
22. 059
5,092
1.228
135
159
20
1, 199
242
23
19. 216
2.037
964
46
21
21
11.614
1.C64
52
29, 645
4.133
1.606
79
169
22
10. 379
1.093
391
84. 841
8,838
30, 249
551
337
23
11
13
(H)
164
26
7
(14)
0*)
24
28, 387
2.456
492
67, 390
13. 852
5,201
149
464
25
32, 982
237
290
8,407
36
1
(14)
(H)
26
8
2.793
4
584
816
34. 495
2
1.918
2
556
2
898
97
119
799
28
2,453
176
25
22, 993
3,262
2,062
136
1,132
29
52. 920
5,240
777
483, 899
91. 141
32. 299
2.580
1.443
30
269. 179
38. 520
8.060
3. 278. 352
686, 921
167, 182
20, 380
22, 025
31
36. 338
3.969
996
171, 803
21, 221
10. 9.54
1,187
2,064
32
36, 350
3,971
996
171,951
21, 239
10, 954
1,187
2,065
33
8,452
153
2
20, 189
2,017
214
158
485
.34
81
27
319
35
90
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART III. RETURNS WITH
[Money figures in
Major industrial groups "—Continued
Manufacturing— Continued
Textile-
mill
products,
except
cotton
Apparel
and prod-
ucts made
from
fabrics ,
Leather
and
products
Rubber
products
Lumber
and
timber
basic
products
Number of retin-ns ".
972
Receipts:
Gross sales '«
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable '8
Subject to declared value excess-profits
tax and surtax. "
Subject to surtax only 20 _
Wholly tax-*tempt 21
Other interest
Rents and royalties 22
Net capital gain 23
Net gain, sales other than cajiital assets 24...
Dividends, domestic corporations 25
Dividends, foreign corporations 2fl
Other receipts 2'
150, 705
8,783
278, 745
25, 224
Total compiled receipts *.
Deductions:
Cost of goods sold 28 _ __.
Cost of operations 29
Compensation of officers
Rent paid on business property
Repairs 29
Baddebts
Interest paid
Taxes paid s"
Contributions or gifts si
Depreciation
Depletion
Amortization 32 __
Net long-term capital loss 23 .
Net loss, sales other than capital assets 24_
Other deductions ^3
Total compiled deductions.
Compiled net loss (IS less 31)
Deficit 3 [32 less (64-7)] -.
Dividends paid: '
Cash and assets other than own stock '
Corporation's own stock
7
180
584
32
171
78
8
906
161, 465
126, 789
6,162
4,598
1,538
1,206
656
1,650
3,034
5
3,323
(14)
1
579
2,998
17, 986
170, 525
9,060
9,067
2,218
34
2
49
208
25
107
(H)
766
305, 157
230, 830
17, 967
•13,860
5,158
472
759
1,322
3,934
20
1,295
2
0«)
230
192
37,260
313, 301
8,144
8,146
272
1
523
119
121, 355
1,123
16, 565
74
(14)
887
2
19
237
(14)
124, 363
107, 062
869
2,790
908
443
340
659
1,517
2
1,154
(")
3,611
317
9,734
129, 407
5,044
5,044
46
16, 748
11, 627
60
419
115
324
39
184
580
6
659
2,997
109
2,685
19, 804
3,055
3,055
394
717
76,138
3,114
(»)
14
249
560
173
142
130
829
81, 351
61, 767
2,356
2,015
696
645
631
1,216
1,876
16
2,349
1,295
918
2,526
10, 514
88, 818
7,468
7,482
3,511
CO
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
91
returns with net incojiie, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NO NET INCOME 3— Continued
thousands of dollars]
Major
industrial groups '—Continued
M anuf acturi ng— C ont inued
Furniture
and
finished
lumber
products
Paper
and
allied
products
Printing
and
publishing
industries
Chemicals
and
allied
products
Petroleum
and
coal
products
Stone,
clay,
and
glass
products
Iron,
steel,
and
products
Nonferrous
metals
and
their
products
1,237
311
4,930
2,361
207
1,123
1,066
637
1
92, 358
49,003
324, 252
123, 897
272, 733
83, 129
120, 075
57, 890
2
2,155
384
59, 839
2,275
6,756
2,166
1,315
553
3
2
8
1
13
80
4
15
1
2
1
16
2
6
4
1
5
1
(14)
1
6
2
(14)
42
15
3
15
11
(14)
7
113
210
913
198
276
80
125
26
8
232
238
1,928
664
1,687
608
310
63
9
48
7
132
67
122
19
36
3
10
75
13
390
29
964
4 154
188
4
11
22
27
615
911
139
705
43
24
12
(")
34
3
1
1
(14)
n
650
431
5,231
1,263
1,054
663
783
222
14
95, 665
50, 315
393, 470
129, 343
282, 737
87, 447
122, 896
58, 786
15
75,012
40, 367
231, 264
85, 583
211,804
61,298
91, 830
50, 613
16
1,316
340
32, 948
1,105
3,468
1,345
669
353
17
4,276
1,395
21, 348
5,809
921
4,081
3,770
2,227
18
1,163
472
7,476
1,351
1,369
706
767
553
19
387
463
1,343
901
2,019
1,962
1,943
178
20
641
277
4,527
2,051
631
603
1,790
212
21
880
1,616
4,312
1,878
2,956
2,070
904
338
22
1,772
755
7,742
2,400
5,674
3,398
3,480
1,130
23
5
1
37
7
(»)
7
3
5
24
1,314
1,407
7,117
3,132
11,101
3,586
2,820
1,185
25
13
54
4
43
6,564
369
4
5
26
17
C^)
6
35
1
3
183
253
27
523
1,553
2,313
1.363
7,205
636
2,950
161
28
811
670
860
1,987
698
1,257
421
100
29
13, 181
4,918
95, 826
33, 323
34, 476
14, 879
19, 640
6,220
30
101, 309
54, 288
417, 124
140, 968
288, 888
95, 999
131, 176
62, 633
31
5,644
3,973
23, 654
11, 626
6,151
8,653
8,280
3,748
32
5,646
3,974
23, 697
11, 642
6,154
8,668
8,293
3,748
33
133
26
1,201
883
4,826
645
1,425
40
34
1
16
175
24
35
92
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART III. RETURNS WITH
[Money figures in
Major industrial groups ' — Continued
Manufacturing — Continued
Electrical
machin-
ery and
equip-
ment
Number of returns is.
Receipts:
Gross sales is
Gross receipts from operations •'
Interest on Government obligations:
Wholly taxable '«
Subject to declared value excess-
profits tax and surtax."
Subject to surtax only 2»
Wholly tax-exempt ^i,..^
Other interest
Rents and royalties -2
Net capital gain =3
Net gain, sales other than capital
assets.!*
Dividends, domestic corporations 25
Dividends, foreign corporations 2c
Other receipts 27
Total compiled receipts '
Deductions:
Cost of goods sold 2s
Cost of operatioijs 2'__ ___
Compensation of officers
Rent paid on business property
Repairs 29 __.
B ad debts
Interest paid
Taxes paid 33
Contributions or gifts "...
Depreciation
Depletion
A mortizat ion 32
Net lone-term capital loss 23 _
Net loss, sales other than capital
assets. 24
Other deductions 33
Total compiled deductions-
Compiled net loss (15 less 31)
Deficit 3 [32 less (6-f7)]
Dividends paid:'
Cash and assets other than own stock '
Corporation's own stock
31, 795
406
(14)
('*)
51
100
28
125
25
1
274
32, 807
25, 067
255
1,457
480
173
109
442
813
1
765
103
52
358
6,324
36, 400
3, 593
3,593
20
Machin-
ery, except
transpor-
tation
equip-
ment and
electrical
79, 839
3,692
(")
5
187
100
207
(H)
184
776
85, 702
61, 402
2,198
4,218
864
691
638
1,182
1,998
4
2,074
3
31
1,291
1,035
14, 788
92, 415
6,713
6,718
503
Automo-
biles and
equip-
ment,
except
electrical
193
43, 993
236
C^)
67
151
16
348
45. 071
35, 991
73
952
267
862
369
173
832
1
1,041
10
2,651
18
48, 565
3,494
3,494
Transpor-
tation
equip-
ment,
except
automo-
biles
277
Other
manufac-
turing
33, 748
10, 487
Q*)
84
44, 856
30, 304
8,023
1,561
297
735
632
460
1,296
1,005
1
98
337
399
5.875
51,021
6,165
6,166
1,509
71,010
4,261
1
90
370
8
26
82
75
52, 848
2,760
5,140
1,640
433
745
646
1, 705
5
1,430
19
480
1,121
14, 828
83, 805
7,231
7,232
122
53
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
93
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NO NET INCOME 3— Continued
thousands of dollars]
Majoi
industrial groups '—Continued
Manufac-
turing-
Public utilities
Trade
Continued
Manufac-
turing not
allocable
Total
public
utilities
Transpor-
tation
Communi-
cation
Other
public
utilities
Total trade
Wholesale
Total
Commis-
wholesale
merchants
893
8,936
5,934
1,767
1,235
49, 228
10, 141
1,909
1
48, 244
23, 876
19, 836
1,109
2,931
4, 232, 587
1,605,086
120, 591
2
1,175
1,691,438
1, 489, 029
47, 828
154, 580
223, 024
93, 947
36, 118
3
25
164
19
155
(H)
(14)
6
9
36
76
5
17
(14)
8
4
(14)
5
26
132
11,318
2
125
9,889
23
8
1,363
26
94
4,305
22
15
1,790
6
8
308
3
321
7
66
8
297
26, 999
25, 626
454
919
13,615
3, 385
457
9
11
923
850
1
72
890
312
62
10
67
1,674
1,641
1
31
1,680
734
67
11
23
3,064
2,368
18
678
1,416
501
77
12
(14)
41
1
40
2,295
2.277
8
13
580
13, 136
11,015
638
1,483
43, 625
18, 031
3,625
14
50, 713
1, 772, 816
1, 560, 557
50, 116
162, 143
4, 523, 671
1,726,122
161,338
15
37, 136
15, 554
12, 792
708
2,054
3, 465, 807
1, 436, 334
113.417
16
896
1, 162, 574
1,043,908
33, 333
85, 333
155, 679
62, 677
17,886
17
2,471
21,234
18, 650
967
1,616
136, 297
36, 864
7,987
18
648
87. 495
81,119
1,257
5,120
93, 830
10. 529
1,721
19
264
8,794
7,567
923
304
13, 323
2,180
146
20
598
3,334
2,562
376
397
24, 109
9,388
1,193
21
769
180, 347
158,104
1,832
20,412
20, 001
6,069
430
22
934
112,845
98, 308
2,459
12,077
49, 622
■ 10, 638
867
23
5
91
85
4
2
341
71
10
24
968
88, 039
64,860
5,570
17,610
40, 033
7,517
656
25
5
1,047
32
3
1,012
349
199
31
26
51
573
824
23, 509
791
17,243
33
5,543
78
10, 684
3
5,464
432"
27
723
28
525
19,431
10, 148
283
9,001
6,684
1,433
111
29
9,652
201,602
166, 677
8,725
26,200
649, 049
197, 382
20, 339
30
55, 495
1,926,720
1,682,845
57,164
186,711
4, 665, 886
1, 786, 747
165, 226
31
4,782
153, 904
122, 288
7,048
24, 568
142, 216
60, 626
3,888
32
4,790
154, 062
122,415
7,048
24,599
142, 336
60,663
3,890
33
393
10, 407
4,848
406
5,152
9,615
7,086
400
34
502
502
72
3
35
589783 — 45-
94
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation returns, 1941, by major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART III. RETURNS WITH
[Money figures in
Major industrial groups '—Continued
Trade— C ontinued
Whole-
sale— Con.
Other
whole-
salers
Retail
Total
retail
General
mer-
chan-
dise
Food
stores,
including
market
milk
dealers
Package
liquor
stores
Number of returns '^ -
Receipts:
Gross sales i« ---
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable '8
Subject to declared value excess-
profits tax and smtax. ''
Subject to surtax only 20
Wholly tax-exempt "
Other interest
Rents and royalties 22
Net capital gain =3 ^- —
Net gain, sales other than capital assets 2f
Dividends, domestic corporations 25
Dividends, foreign corporations 20
Other receipts 2?
8,232
33, 101
1,971
3,822
1, 484, 494
57, 830
4
9
22
13
1,469
2,928
250
667
424
2,269
14, 406
2, 163, 710
109, 914
30
57
4
61
2,045
8,711
424
790
607
12
21,872
98, 405
1,764
(H)
1
195
905
25
57
25
2,042
484, 320
18, 794
1
25
3
43
106
1,072
122
240
120
3
2,103
Total compiled receipts *.
1, 564, 784
2,308,236
103, 419
506, 952
Deductions:
Cost of goods sold 28
Cost of operations 28
Compensation of ofncers-J
Rent paid on business property. - -.
Repairs 29. -.
Bad debts
Interest paid
Ta.xes paid ^o
Contributions or gifts 3'
Depreciation
Depletion -
Amortization 22
Net long-term capital loss 23
Net loss, sales other than capital assets '*.
Other deductions 33
Total compiled deductions.
Compiled net loss (15 less 31) ..-
Deficit 3 |;j2 less (6-|-7)]_
Dividends paid: »
Cash and assets other than own stock '
Corporation's own stock
1, 322, 917
44, 791
28, 877
8,808
2,034
8,195
5,638
9,772
61
6,862
169
3
5, 032
1,321
177, 043
1, 621, 522
56, 738
56, 772
6,686
3
1, 653, 400
78, 853
. 83, 034
76, 251
9,575
11,675
11,547
32, 759
228
27, 328
113
75
2,370
4,774
381,865
75, 875
1,324
3,718
3,220
260
1,150
837
1, 664
14
923
27
392, 010
15, 063
10, 166
9,014
2,890
1,122
1,873
5,716
35
7,548
162
582
19,.194
127
1,776
70, 599
2, 373, 850
108, 951
517, 949
65, 613
65, 678
2,011
55
5, 532
5,533
294
10, 997
11, 042
258
9
882
36, 534
l,o98
(14)
(14)
38, 252
29, 217
1,275
2,212
1,263
55
18
102
893
2
250
1
3
13
3,864
39, 168
916
916
(14)
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
95
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NO NET INCOME '■
thousands of dollars]
-Continued
Major industrial groups '—Continued
Trade— C
ontinued
Retail— Continued
Drug
Apparel
and
accessories
Furniture
and
Eating
and
Automo-
tive
dealers
Filling
Hard-
Building
materials,
stores
house
furnishings
drinking
places
stations
ware
fuel, and
ice
2,652*
3,946
1.595
6,301
2,728
1,211
843
2,738
1
108, 720
175, 202
70. 872
295, 753
396, 566
56, 225
24, 468
197, 301
?.
3,305
5,727
2,287
39, 926
13, 172
4,065
344
10, 030
3
(U)
1
1
21
12
4
13
4
(»)
(")
(14)
"i
1
2
233
(»)
307
6
(H)
14
1
31
6
286
(14)
14
41
7
542
8
247
627
246
2,145
387
384
78
1,225
9
13
14
22
35
11
10
3
84
10
18
20
22
91
87
32
8
133
11
7
17
34
16
25
3
(14)
213
12
(»)
(")
(14)
13
874
2,601
2,654
1,935
3,791
303
203
1,931
14
113, 199
184, 241
76. 431
340, 169
414, 583
61.036
25. 144
211, 249
15
81, 210
120, 813
47, 466
174, 026
347, 252
44. 837
19, 249
154. 768
15
2,194
2,600
1,644
26, 809
10, 936
2,958
246
7.954
17
5,630
10, 449
4,906
13,613
9,174
2,201
1,629
8,334
18
5.637
13, 723
3,273
22, 124
4,499
2,122
754
2,058
19
292
345
166
2,867
650
176
43
1,243
20
134
1,268
1,110
296
2,118
291
245
2.156
?1
308
771
676
1,539
2,046
233
153
1,571
">.?.
1,743
2,192
1,099
9,041
2,579
1,064
366
3,205
23
13
16
7
41
36
7
5
IS
?4
1.234
1,504
539
7,941
1,194
779
205
2,981
25
6
113
t
121
14
321"
18
6
89
2
(»)
428
3
2
CO
771
■'fi
'7
29
36
?8
71
366
273
449
281
134
12
652
29
17. 428
36, 969
18, 454
92, 340
38, 494
7,514
3,260
32, 292
30
116,012
191, 151
79, 949
351, 200
419, 686
62. 348
26, 202
218, 005
31
2.813
6,910
3,517
11,031
5,103
1,312
1,058
6,756
32
2,813
6,911
3,524
11, 033
5, 103
1,312
1,058
6,763
33
53
56
43
70
169
34
21
699 [
M
10
2
5
(14)
19 j
?■)
96
STATISTICS OF INCOME FOR 1941, PART 2
Table 3. — Corporation retvrns, 191,1, hy major indiiMrial grovps, for all retui-ns,
piled receipts, compiled deductions^ compiled net profit or net loss, net income or
Net operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART III. RETURNS WITH
[Money figures in
Number of returns ".
Receipts:
Gross sales '«
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable 's -..
Subject to declared value excess-
profits tax and surtax. "
Subject to surtax only 20
Wholly tax-exempt 21...
Ot her interest
Rents and royalties 22
Net capital srain 23. _'
Net Plain, sales other than capital assets 24.
Dividends, domestic corporations 25
Dividends, foreign corporations 26
Other receipts 2'
Total compiled receipts
Deductions:
Cost of froods sold 28
Cost of operations 28
Compensation of officers-.-
Rent paid on business property
Repairs 29
Bad debts
Interest paid...
Taxes paid m
Contributions or gifts '•
Depreciation
Depict ion
A mortization 22 -
Net lonp-term capital loss 23 ,
Net loss, sales other than capital assets ■*
Other deductions ^3 _
Major industrial groups ' — Continued
Trade— Continued
Retail — Continued
Other
retail
trade
2.925
128, 643
6, 895
(»)
1
181
1,00<)
51
53
125
7
1,780
138, 748
Total compiled deductions-
Compiled net loss (15 less 31) ..-
Deficit 3 [32 less (0+7)]
Dividends paid: »
Cash and assets other than own stock '-
Corporation's own stock -
92, 399
4,549
7,892
7, 050
334
908
878
2,093
24
1,242
24
64
137
106
28, 025
Retail
trade not
allocable
Trade
not al-
locable
1,487
90, 700
2,007
(.4)
C^)
351
9
28
21
1,596
94, 812
145,723
6, 975
6, 976
253
4
74, 280
1,:«)1
3,110
1, 516
255
859
559
1,102
10
987
(") ,
(»)
32
59
13, 434
5.986
463, 791
19,162
(»)
18
470
1,519
154
157
308
6
3,722
489, 313
97, 506
2, 694
2, 694
376, 074
14,148
16,399
7, 050
1,568
3, 047
2, 385
6,225
41
5,187
36
(H)
2,850
477
69, 802
505, 289
15,977
15,995
518
14
Service
Total
service
246, 661
773, 463
11
334
6
215
1,780
34, 021
750
635
1,310
245
16,968
1,076,398
144.780
367, 328
55, 222
65, 435
19,219
6,511
26, 147
42, 767
243
51,653
55
181
6,858
3,778
362, 357
Hotels
and other
lodging
places
2,829
99, 428
195,951
2
10
(")
49
408
22, 376
279
228
184
10
3,869
322, 794
1,152,534
55, 238
82, 000
6, 076
18,154
12,674
1,323
18,486
23, 649
64
25, 786
U
160
1,862
1,658
103,798
350, 940
28,147
28, 195
993
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941. PART 2
97
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; cdso, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NO NET INCOME 3— Continued
thousands of dollars]
Major industrial groups '—Continued
Service— Continued
Automotive
Miscellane-
Amuse-
ment, ex-
cept mo-
tion pic-
tures
Other
Personal
Business
repair serv-
ices and
garages
ous repair
Motion
service, in-
Service not
service
service
services,
hand trades
pictures
cluding
schools
allocable
4,490
3,643
2,020
685
1, 789
2,911
2,906
no
1
54, 289
17, 979
34, 419
8,762
5,873
IQ, 244
14, 987
680
2
129, 477
127, 591
24, 966
4,913
161, 203
54, 006
73, 770
1, 585
3
1
2
3
47
16
152
0<)
(»)
9
217
1
4
4
269
4
131
791
4
(")
1
5
6
3
67
25
7
110
Qi)
6
7
4
8
509
1,726
2,866
26
3,469
1,113
1,904
32
9
80
62
34
4
173
70
47
1
10
75
121
12
7
50
90
52
(H)
U
116
94
14
(H)
55
55
792
CO
12
(H)
1,141
10
2,555
221
2,226
5
4,029
13
846
60
2,224
18
14
185, 760
150, 357
63,183
13, 776
17?, 498
67, 925
96, 783
2,323
15
29, 550
11, 581
23, 077
5,718
3,921
6,284
8,936
474
1ft
75, 009
66, 738
11, 244
3,123
75, 277
27, 290
26, 160
487
17
13. 959
13, 198
4,454
1,651
4,267
3,941
7,349
327
18-
7,501
4,446
8,720
448
18, 161
4,414
3,470
120
19
2, 417
378
427
52
1,241
1,246
773
11
20
1,306
871
280
106
1,230
250
1,137
9
21
1,535
761
1,113
77
1,773
1,269
1,123
9
22-
5,150
2,482
2,065
303
3,579
3,257
2,238
45
23
33
19
8
1
73
12
34
(>0
24
7,063
3,127
1,768
258
5,638
4,138
3,782
93
25
3
2
8
750
4
C^)
12
12
574
11
(»)
187
11
(H)
1,030
?6
97
2,332
114
8
CO
28
322
876
122
25
141
490
143
1
29
48, 885
53, 946
12, 153
2,581
67, 197
24, 093
48, 792
910
30
195, 065
159, 182
65, 548
14, 352
183, 098
76, 883
104, 977
2,487
31
9,305
8,825
2,365
576
9,600
8,959
8,194
164
32
9,309
8,842
2,365
576
9,610
8,966
8,329
164
33
268
167
21
1
303
118
148
12
34
(■*)
2
60
2
20
35
98
STATISTICS OF INCOME FOR 1941, pART 2
Table 3. — Corporation returns, 1941, by major ind^istrial groups, for all returns,
piled receipts, compiled deductions, compiled net-profit or net loss, net income or
Net operaiing loss deduction, normal tax, surtax, declared value excess-profits tax,
PART III. RETURNS WITH
[Money figures in
Major industrial groups ' — Continued
Finance, insurance, real estate, and lessors of
real property
Total finance,
insurance,
real estate,
and lessors of
real property
Finance
Total
finance
Banks and
trust
companies
Long-term
credit
agencies,
mortgage
companies,
except banks
16
17
18
19
^0
-21
22
23
24
25
26
27
28
29
30
Number of returns "-
77, 190
14, 057
3,965
1,985
Receipts:
Gross sales i'
Gross receipts from operations ''
Interest on Government obligations:
Wholly taxable >«
Subject to declared value excess-
profits tax and surtax. i'
Subject to surtax only 20
Wholly tax-exempt ^i
Other interest
Rents and royalties '2
Not capital gam 23
Net gain, sales other than capital assets 24.
Dividends, domestic corporations 25
Dividends, foreign corporations 2«
Other receipts 2?
41,856
1, 190, 301
8,633
168, 700
7,477
128, 692
1,011,759
582, 581
22, 200
21,914
129,481
8,103
58, 954
2,710
136, 882
4,451
25, 144
7,114
35, 129
226, 550
46, 270
15, 403
12,525
90, 443
5, 520
22, 265
53, 102
4,338
24, 511
7,019
32, 507
162, 504
22, 030
10, 255
611
5,165
41
9,734
3,599
3
70
5
1,065
7,163
10, 606
148
298
41
(H)
2,547
Total compiled receipts '■
3, 380, 651
630, 406
331,815
25, 544
Deductions:
Cost of goods sold 28
Cost of operations 28
Compensation of officers
Rent paid on business property
Repairs 29
Bad debts
Interest paid
Taxes paid ^o
Contributions or gifts 81
Depreciation ---
Depletion
A mortization 32
Net long-term capital loss 23
Net loss, sales other than capital assets 24.
Other deductions 33 -
35, 333
139,813
35 117,987
69, 785
60, 106
173,605
410,815
287, 109
303
203, 762
4, 629
101
327, 440
126, 265
6 2, 371, 381
2,194
44,312
60, 720
14, 820
4, 551
153, 680
152, 936
32, 995
94
19, 847
358
27
257, 841
39. 955
235, 416
247
37, 958
8,421
2,911
42, 338
53, 238
20, 410
58
11,507
32
23
47, 826
14, 748
121,404
758
1,851
444
810
2,893
8,754
3,026
5
1,784
3
4
1,959
6, 109
17, 507
Total compiled deductions,
3' 4, 328, 434
1,019,745
301, 122
45, 907
Compiled not loss (15 less 31).
Deficit 3 [32 loss (6-H7)] -
Dividends paid: '
Cash and assets other than own stock '.
Corporation's own stock _
947, 783
1,083,952
114,036
19, 877
389, 339
431,582
81, 999
11,214
29, 307
68, 833
21, 267
1,346
20,363
21,433
631
4
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
99
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — Continued
NO NET INCOME 3— Continued
thousands of dollars]
Major industrial groups '—Continued
Finance,
insurance, real estate, and lessors of real property— Continued
Finance— C ontinued
Insurance carriers,
agents, etc.
Short-term
credit
Invest-
Other invest-
Security
ment
trusts and
ment
companies
and com-
modity-
Other
Finance
Total in-
surance
Insurance
except
banks
invest-
ment com-
including
holding com-
exchange
brokers
companies
cable
carriers,
agents, etc.
carriers
panies '1
panies 11 12
and dealers
1,669
1,568
863
936
1,108
1.963
3,728
1,132
1
1,315
11,684
418
3,046
977
1,344
2
5,497
55, 795
2,815
519, 991
484, 859
3
2
21
26
53
(14)
8
4,139
4.138
4
4
108
67
290
13
80
143, 349
143. 345
5
15
554
40
235
28
638
2
12
5
101
343
93, 195
343
93, 194
6
16
7
6,869
12, 480
26, 374
1,120
3,647
6,393
772,644
772, 482
8
228
962
4,847
342
6,741
513
170, 017
169. 664
9
61
1,288
1,412
888
78
1,273
3,327
3,186
10
93
107
63
10, 727
223
403
155
147
11
64
36, 504
46,418
1,368
646
338
32, 189
32, 138
12
(H)
754
4,681
42
1
1
2,506
2. 506
13
1,207
1,757
2,713
2,177
1,075
1,057
14, 823
12, 974
14
21, 542
60, 047
90, 341
73, 470
14, 660
12, 987
13 1. 756, 679
13 1, 718, 978
15
1,048
1,269
373
444
773
240
16
221
40, 607
527
10, 034
604
17
3,577
2,446
3,118
8.477
1,470
1,824
35 13,713
33 3, 687
18
785
341
421
3, 735
356
317
4.514
2,881
19
76
64
229
49
301
110
1,529
1,442
20
4,116
11,744
74. 190
1,917
10.612
5.870
1.466
1.014
21
2,744
13. 660
65,430
1,191
3,491
4,427
52. 027
51.651
22
701
1,993
3,408
1,350
1,220
887
57, 199
56,489
23
12
6
2
3
2
7
19
4
24
218
307
2,221
361
3,126
323
34,896
34, 569
25
(H)
143
104
1
72
(H)
8,134
2
(U)
26
27
937
73, 744
116,609
1,577
7,054
12,418
12, 097
28
144
2,672
4.026
1,709
8.235
2,312
4,931
4,829
29
11,073
20, 595
26,815
21, 871
9,634
6,517
39 1, 824, 855
36 1, 808, 448
30
26, 701
127, 936
297, 390
82,846
47. 665
30, 178
37 2,017,601
37 1,977,717
31
5,159
67,889
207, 049
9.376
33, 005
17, 191
260,922
258, 739
32
5,176
68, 458
207, 324
10, 042
33,020
17,297
354, 461
352, 276
33
659
21,620
29,338
4.194
2,762
1,528
16, 658
16. 422
34
13
9,798
1
51
7,287
7.278
35
100
STATISTICS OF INCOME FOR 1941, pART 2
Table 3. — Corporation returns, 1941, hy major industrial groups, for all returns,
piled receipts, compiled deductions, compiled net profit or net loss, net income or
N^et operating loss deduction, normal tax, surtax, declared value excess-profits tax,
PART III. RETURNS WITH
[Money figures in
Major industrial groups ' — Continued
Finance, insurance, real estate, etc. —
Continued
Insurance
carriers, etc-
Continued
Insurance
agents,
brokers, etc.
Real estate,
including
lessors of
buildings
Lessors of
real property,
except
buildings
Number of returns '5_
Receipts:
Gross sales >«
Gross receipts from operations "
Interest on Government obligations:
Wholly taxable i'
Subject to declared value excess-profits tax and
surtax. 19
Subject to surtax only 20 _.
Wholl y tax-exempt 21
Other interest
Rents and royalties " ^
Net capital gain 23
Net gain, sales other than capital assets 2^
Dividends, domestic corporations 25
Dividends, foreign corporations 26 _.
Other receipts 2'
Total compiled receipts •
Deductions:
Cost of goods sold 28
Cost of operations 28
Compensation of officers
Rent paid on business property.
Repairs 29 _
Bad debts
Interest paid
Taxes paid 3"
Contributions or gifts 3i
Depreciation
Depletion
Amortization 22
Net long-term capital loss 23
Net less, sales other than capital assets 2<.
Other deductions 33
Total compiled deductions^
Compiled net loss (15 less 31)
Deficit^ [32 less (6+7)]..
Dividends paid:"
Cash and assets other than own stock '
Corporation's own stock
2,596
35, 132
(14)
(H)
1
162
353
140
8
51
1,{
37, 701
9,430
10,025
1,633
87
452
376
710
14
327
(14)
321
102
16, 407
39, 884
2,184
2,185
65, 243
38, 373
531, 966
38
187
19
340
12. 067
337, 274
3,186
9,040
6,687
74
19, 905
959, 156
32, 681
85, 091
41,954
49, 248
53, 623
17,031
187, 949
190, 049
177
144, 766
182
60
49, 583
76, 744
297,419
1, 226, 557
267, 401
267, 760
13, 534
942
4,162
773
1,463
(14)
498
29, 021
284
194
161
3
1,960
34. 411
459
376
1,601
1,202
403
1,428
17, 903
6,867
13
4,253
4,089
15
7,598
4,635
13,690
64, 531
30, 121
30, 149
1, 846
435
For footnotes see pp. 234-236.
STAl'ISTICS OF INCOME FOR 1941, PART 2
101
returns with net income, and returns with no net income: Number of returns, corn-
deficit, and dividends paid by type of dividend; also, for returns with net income:
excess profits tax, total tax, and compiled net profit less total tax — -Continued
NO NET INCOME 3— Continued
thousands of dollars]
Major industrial groups '—Continued
'
-
Agriculture, forestry, and fishery
Nature of
Construction
Total
agriculture,
forestry,
and flsliery
Agriculture
and services
Forestry
Fishery
business not
allocable
6,793
3,957
3,505
294
158
5,123
1
122, 867
83, 125
77, 284
2.728
3,113
13, 771
2
310, 684
30, 925
27, 325
1,708
1,892
17, 298
3
5
38
2
29
2
23
'' 6
3
23
4
5
(14)
56
438
1
73
527
1
66
449
6
172
996
6
7
76
7
2
8
2,218
2,212
2,065
106
40
2,129
9
176
997
351
639
1
301
10
793
459
213
236
10
332
11
377
949
921
27
1
489
12
2,819
13
2,528
13
2,221
41
3,087
13
221
86
14
440, 479
121, 840
110,934
5,755
5,151
38. 647
15
98, 681
64, 603
60, 196
1,792
2,615
11, 065
16
270, 435
17, 778
16, 084
495
1,199
6,355
IV
23, 141
5,357
4,811
273
273
5,492
18
3,054
1,541
1,442
30
70
1,234
19
2,104
2,095
1,811
25
259
503
20
2,835
1,300
1,210
65
26
2,451
21
2,299
5,506
4,166
1,276
64
4,233
22
6,430
4,472
3,587
747
138
2,394
23
41
32
28
4
('<)
9
24
6,884
5,896
5,440
202
254
1,925
25
12
1,929
60
1,878
CO
457
26
25
2,521
VfV
3,636
2,366
1,269
(14)
9,768
28
1,690
2,079
1,519
550
10
12, 784
29
41,891
24, 166
21, 649
1,614
904.
18, 117
30
462, 105
140, 390
124, 358
10, 221
5,811
76, 786
31
21, 626
18, 550
13, 424
4,466
660
38, 139
32
21, 683
18,624
13, 491
4,473
660
38, 317
33
1,247
1,371
481
890
CO
10, 101
34
65
7
7
45
3.")
102
STATISTICS OF INCOME FOR 1941, PART '2
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103
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114
STATISTICS OF INCOME FOR 1941, PART 2
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STATISTICS OF INCOME FOR 1941, PART 2
115
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116
STATISTICS OF INCOME FOR 1941, PART 2
1-1 N CC ■•^ »0 CO t^ 00 05 O i-H
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STATISTICS OF INCOME FOR 1941, PART 2
117
N CO ^ »0 CD b* 00 OS O »-> W CO -^ to
WM MOI Ol Ol Ol Ol CO CO CO CO CO CO
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1, 319, 815
50, 622
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22
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2,650
234
652
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40, 218
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5,477
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269, 131
184
611
48
668
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19,814
2,120
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6,574
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149, 844
369, 516
80, 025
23, 180
56, 910
47, 333
134, 846
4,309
63, 389
455
376
12, 571
2,881
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869, 595
868, 879
19, 240
152, 740
38, 226
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190, 758
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110,918
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293, 473
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1, 986
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224
7,218
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1, 174, 527
785, 449
53, 878
46, 757
9,512
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4,932
4,173
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518
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3,670
618
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76, 729
76, 601
1,877
11,703
3,057
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20, 841
278
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82, 993
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2,996
296
710
473
2,277
11,818
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1, 276, 457
56, 205
34, 036
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562, 604
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21,800
2,372
3,133
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6,707
139, 571
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203, 722
416, 272
89, 537
24, 349
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51,505
143, 476
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67, 027
468
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16, 241
3,499
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164, 443
41,283
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167, 685
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563, 492
211, 599
14, 306
3, 816, 386
171, 826
32
67
26
82
4,097
12, 529
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1,553
1,382
2,295
35, 552
4, 046, 570
3, 106, 187
118,575
121,448
83. 393
12.112
22. 280
18, 806
44, 863
296
37,018
322
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4,103
588, 644
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50,820,719
868, 488
299
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166
1,675
76, 087
99. 581
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55, 645
31, 203
497, 053
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40, 669, 628
352, 120
925, 691
632, 748
108, 895
162, 862
127,8.50
472, 375
13,451
267, 627
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1,299
37, 456
8,120
6, 492, 330
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104, 626
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344,614
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567, 904
23, 714
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1,905
78, 862
1,481
4,594
281
366
18, 861
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2
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140
STATISTICS OF INCOME FOR 1941, PART 2
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STATISTICS OF INCOME FOR 1941, PART 2
141
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142
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax
[Total assets classes and money
Total assets
classes '"
Num-
ber
of re-
turns
with
balance
sheets '"'
Cash«
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets *^
Gess re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable '*
ALL INDUSTRIAL GROUPS—
1
50
100
250
600
1,000
5,000
10,000
50,000
100,000
Total
105, 053
41,412
43, 884
22, 042
14, 278
14, 655
2,251
1,936
335
349
246, 195
258, 884
264, 364
615, 023
841, 509
1, 350, 792
4, 375, 757
2, 241, 668
5, 537, 627
2, 960, 710
17,718,207
36, 164, 542
560, 619
727, 795
1, 714, 532
1, 966, 582
2, 568, 923
6, 917, 823
3, 094, 381
6, 717, 046
2, 894, 702
16, 312, 529
43, 474, 932
519, 822
648, 080
1, 421, 276
1, 397, 833
1, 608, 857
4, 126, 382
1,831,095
4, 128, 901
2, 137, Q92
6, 009, 349
23, 829, 287
92, 850
140, 221
476, 905
807, 726
1, 346, 093
6, 197, 794
3, 702, 080
10, 406, 154
6, 534, 138
43, 601, 057
73, 305, 018
792, 538
1, 102, 478
2, 566, 277
2, 573, 025
2, 932, 014
8, 249, 462
4,474,717
12, 205, 458
8,211,327
38, 894, 001
82, 001, 296
2, 297, 019
2, 964, 672
6, 978, 330
7, 770, 883
10,018,713
30, 480, 805
15, 696, 795
39, 794, 529
23, 349, 049
124,170,830'
263, 621, 625
702, 640
756, 734
1, 541, 478
1, 428, 269
1,511,841
3, 550, 637
1. 509, 904
3, 232, 099
1, 291, 359
5, 472, 160
20, 997, 121
ALL INDUSTRIAL GROUPS—
1
50
100
260
500
1,000
6,000
10,000
50,000
100,000
Total
108, 033
20, 113
16, 502
6,709
4,146
4,177
661
475
65
77
160, 868
113, 287
69, 191
107, 211
133, 388
247,311
937, 701
462, 922
1, 077, 460
471, 257
1, 864, 651
5, 464, 379
323, 804
213,532
328, 875
303, 431
387, 418
1, 236, 984
483, 143
967, 924
433, 349
1, 101, 244
5, 779, 704
243, 283
131, 666
167, 745
95, 142
87,817
198, 025
70. 362
120. 204
31, 235
82, 907
1, 228, 385
89, 767
101, 446
236, 934
343, 870
660, 618
2, 495, 723
1, 433, 981
4, 667, 690
2, 166, 763
31, 619, 877
43, 696, 460
872, 981
863, 262
1,645,815
1,412,879
1, 538, 130
3, 677, 679
1,339,904
2, 370, 383
1,232,801
3, 742, 966
18, 696, 789
1, 716, 155
1, 420, 026
2,568,411
2,351,316
2, 896, 000
8. 732, 911
3, 874, 548
9,391,337
4, 529, 820
39, 450, 102
76, 930, 625
764, 005
393, 643
546, 137
402, 185
395, 839
848, 697
310, 823
414, 289
204,418
316, 060
4, 594, 996
TOTAL MINING AND QUARRYING—
1
1,309
638
792
469
322
368
67
73
6
7
3,492
4,666
12,828
14, 281
19, 944
00, 401
34, 949
123. 617
40, 341
108, 952
5,511
9,047
23, 909
25, 138
32, 086
83, 738
51, 181
116,497
15, 089
81, 400
934
1,662
4, 865
7,481
9,746
34, 027
22, 864
90, 872
32, 604
75, 242
1,037
1,923
7,138
13, 802
17,912
107, 763
86, 157
291, 489
109, 854
532, 503
17,831
26, 508
73, 034
99, 748
134,427
446, 566
264, 607
774, 756
219, 945
645, 022
29, 864
46, 620
127, 224
164, 965
221, 100
753,012
469, 640
1, 418, 124
425, 328
1, 503, 800
8,125
11,810
24, 091
31, 266
33, 227
77,113
56, 988
118,924
6,784
41,479
50.— •- ---
100
250
500
1,000 .
5,000
10,000
50,000
100,000
Total—
4,031
423, 260
443, 595
280, 187
1, 169, 577
2, 702, 444
6, 168, 676
408, 806
TOTAL MINING AND QUARRYING-
1
2,102
651
670
307
202
214
25
20
3
2
1, 966
1,674
4,107
3,805
3,904
10, 684
8,428
12,665
9,336
2,488
4,915
6, 628
11,346
9,412
13,442
35. 143
7,319
15,611
8,182
13, 587
1,029
1, 365
3,017
2, 508
4,041
13,606
5, 073
17,872
6,476
3,686
1,935
2, 617
6,759
8,367
13, 634
44, 190
16,613
46, 835
16, 620
28, 199
26, 296
33, 276
74, 633
78, 644
103, 192
331, 348
132, 907
277, 102
187, 350
180, 863
37, 943
47, 436
104, 904
107, 910
143, 285
446,412
178, 645
379, 644
230, 736
229, 270
23, 697
18, 309
31,123
30, 302
44, 188
71, 339
28, 491
46. 542
3,792
5,444
50 --
100 ---
250
500
1,000
5,000 1
10,000
50,000
100,000
Total...
4,196
59, 057
124,482
58, 573
184, 669
1,425,510
1,906,184
303, 227
For footnotes, see pp. 234-2,36.
STATISTICS OF INCOME FOR 1941, PART 2
143
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
fignres in thousands of dollars]
Bonds and
Capital
Surplus
and
undivided
profits 55
(less
Gross
sales '6
and gross
Total
Compiled
Net in-
Total
tax 56
Divi-
mortgages
stock 54
receipts
compiled
net profit
come or
dends
payable '3
from
receipts <
or net loss
deficit 3
paid »
deficit) «
opera-
tions 17
RETURNS WITH N^iT INCOME
273, 329
1, 164, 925
111
6, 554, 914 6, 728. 652
232. 571
232, 331.
48,540
52, 706
413, 536
1. 208. 101
397. 001
6,751,940 6,926,086
277, 806
277, 502
71,817
55, 954
1,020.018
2, 570. 595
1, 230, 592
13,109,852 13,484,229
682, 640
681, 380
215, 399
150, 207
945, 937
2. 542. 842
1,609,851
11,798,918 12.098.560
776, 513
772,- 921
289, 199
180, 712
959, 275
2, 996, 619
2,153,058
12,342,872 12,695,424
998, 850
990, 980
401. 150
242,052
2, 587, 593
8, 304, 741
7, 287, 604
28,571,039 29,550,231
2, 902, 085
2, 871, 890
1,214,113
806, 487
1, 352, 732
4,107,611
4,115.878
11,606,603 12,062,030
1,467,816
1, 453, 733
651, 389
447, 615
4, 291, 707
11.015,004
9,995.110
27.001,116 28,004,398
3, 339, 894
3, 309, 755
1, 439, 513
1, 221, 153
4, 347. 749
6, 508. 491
4, 774. 658
10,480,308 111,037,461
1, 684, 202
1,667,047
696, 569
679, 624
19,792,201
33, 581. 218
22.110.647
36,721,951 ;39,460. 569
5, 637, 051
5, 539, 260
2, 035, 994
2, 571, 977
35,984,076
74,000,147
53,674,510
164.939,513 1172,047,639
1
17, 999, 428
17, 796, 797
7,063,683
6, 408, 488
RETURNS WITH NO NET INCOME
494, 161
505, 040
1,014,489
914, 029
966, 136
2, 444, 723
922, 326
1, 996, 352
996, 884
3, 304, 102
1, 303, 484
756, 393
1, 159, 402
912, 640
1,011.961
2, 593. 580
908. 719
1,656,212
882, 765
2, 605, 547
57 1,008,620
57 343, 021
67 362, 782
67 203, 080
57 157. 944
57 138. 545
199, 886
881, 664
132. 886
2, 124, 297
3, 151,
1, 200,
1, 433,
896,
774,
1, 565,
457,
909,
547,
840,
3, 281, 293
1, 284, 992
1, 586, 655
954, 081
842, 711
1, 756, 672
543, 349
1, 127. 213
645, 892
2, 066, 684
38 188, 984
3S 77, 625
38 121,685
38 85, 675
38 107, 279
38 247, 191
38 99, 207
38 269, 063
38 107, 659
38 103, 429
38 189, 078
38 77, 717
38 122, 065
38 86, 781
38 110.611
38 260, 983
38 106, 064
38 287, 419
38 116,999
38 185, 475
J3, 558, 244 13,790,703 1,124,740
11, 777, 709 1 14, 089, 544 38 i^ 407, 797
38 1,543,191
RETURNS WITH NET INCOME
2,857
30,969
67 15, 526
51, 233
53, 015
4,686
4,685
981
2,374
3,770
27, 958
67 1, 534
69, 661
71, 757
5,989
5,987
1,425
(2,587
12, 108
68, 483
10, 183
168, 019
173, 061
16, 578
16, 569
5,063
6,817
14, 914
73, 526
33, 126
186, 780
191, 855
19, 754
19, 732
6,526
9,353
18,049
105, 286
47, 486
219, 862
225, 806
22, 910
22. 870
8,157
9,945
67, 488
298, 613
269. 862
487, 503
507, 672
61, 262
61. 100
21,118
33, 117
70,229
163, 903
157. 029
295, 831
307, 191
29, 283
29, 161
8,765
15. 983
157, 267
557, 197
509. 018
733. 788
770, 477
99, 064
98, 262
29, 805
86, 678
51, 090
142, 625
210. 599
168. 510
175, 233
36, 563
36, 477
13, 938
33, 777
55, 571
628, 873
700, 968
497, 838
536, 834
136, 260
136, 092
42, 570
99, 800
453, 344
2,097,434
1, 921, 212
2,879,024
3, 012, 902
432, 351
430, 935
138,348
300, 433
RETURNS WITH NO NET INCOME
7,759
15, 879
20, 878
24, 250
22, 231
79, 750
33, 012
103, 886
140, 760
39, 312
52, 005
41, 398
78, 851
68. 276
74. 814
215, 533
69, 719
138. 360
77, 741
95,000
67 50, 454
57 33, 640
67 33, 386
67 21,377
67 13, 791
50, 541
37,313
84, 375
57 10,617
83, 651
39, 870
33, 313
61,019
40, 739
59, 629
157, 876
52, 529
130,059
73, 086
60, 628
41, 337
34, 248
64, 296
42, 559
61, 774
163, 983
57, 581
134, 851
75,784.
64,321
38 7, 776
38 4, 979
38 8. 147
38 5, 966
38-6,861
38 14, 762
38 4, 394
38 7, 198
38 1,318
38 1, 268
38 7, 776
38 4, 979
38 8, 150
38 5, 967
38 6, 870
38 14, 773
38 4, 403
38 7, 206
38 1,318
38 1, 274
280
186
418
533
501
4,696
1,206
2,078
500
487, 718
911,696
92, 615
708, 748
740, 734
38 62, 668
38 62, 719
10, 398
144
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns ivith balance sheets, 1941. by total assets classes, and
come: ^ Nximber of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for Returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balance
sheets <"
Cash <i
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets <3
(less re-
serves)
Total
assets —
total lia-
bilities <6
Accounts
and notes
payable ^^
MINING AND QUARRYING: METAL MINING—
1
50
100..
250
500
1,000-
5,000.-.
10,000.
50,000
100,000.
Total...
312
253
414
1,867
2,942
3,522
13, 099
12,041
66, 170
25, 869
101, 722
227, 898
27, 008
88, 312
77
58
670
1,556
2,002
8,537
7, 293
44, 742
12, 736
69, 438
147, 108
30
21
509
1,416
2,637
17,313
17, 766
71,6?g
90, 288
508, 202
560
1,509
4,458
8,554
16, 275
81, 095
45, 459
223, 095
93, 699
481, 280
709, 810 955, 984
1,158
2,520
8,703
16, 119
29, 416
131,016
101, 586
436, 215
238, 580
244, 634
2, 209, 947
205
457
1,198
1,558
3,718
6,141
6,858
58, 843
5,226
36. 455
120, 668
MINING AND QUARRYING: METAL
1 .
249
112
148
80
53
70
5
5
200
107
390
837
529
3,- 044
861
4,722
353
415
742
1,120
1,301
7,029
2,438
1,154
42
148
343
402
811
3,652
1,060
1,443
240
383
1,677
1,638
4,820
12,660
4,041
7,571
3, 099
6,412
18, 205
23, 483
28, 480
112, 085
23, 673
51, 129
4,890
8,345
22, 411
■ 28,354
37, C04
141,719
32, 698
71, 787
3,151
1,856
4,755
3,983
4,862
13, 170
1,679
2,737
50
100-... -
250
500.-
1,000
5,000
10,000
50,000
100,000
Total...
722
10, 689
14, 551
7,902
33,030 267,165 347,808
36, 193 1
MINING AND
QUARRYING: ANTHRACITE
1
11
7
22
13
9
4
2
2
73
42
370
379
954
224
1,650
2,237
57
91
913
1,141
1, 952
768
3,271
2,333
32
42
313
414
682
538
1,471
1,389
14
7
101
350
770
3,746
1,170
6,093
114
319
1,773
2,207
2,215
2,295
7.187
25, 188
293
515
3,647
4,657
6, 695
7,641
15,021
38, 621
175
170
1,369
3,468
1,528
1,003
7,488
1,677
50.
100
250
500
1,000
5,000
10,000
50,000
100,000
1
6,533
3,572
2,123
20, 643
101,114
137, 178
1,538
Total...
71
12, 463
14, 099
7,005 32,895
142, 412
214,267 18,415
MINING AND
QUARRYING: ANTHRACITE
1
31
11
13
2
3
4
1
19
16
127
153
24
237
1,537
103
202
656
93
156
353
635
32
33
191
2
204
394
312
348
433
1,233
221
1,232
4,427
3,919
627
v735
2,255
793
2,328
7,048
8,234
648
393
1,171
138
1,402
1,308
299
50
100
250
500
1,000
24
59
254
385
1,356
491
5,000-
10,000
60,000.
2
6,148
6, 287.
5,579
15, 514
98,916
135,812
3,146
100,000
Total...
67
8,260
8,385
6,747
18, 083
110,728
157, 733
8,406
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
145
by major indtistrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable 53
Capital ,
stock 5'!
Surplus
and
undivided
profits 65
(less
deficit)"
Gross
sales '6
and gross
receipts
from
opera-
tions 17
Total
compiled
receipts ''
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
221
1,000
67 362
3,241
3,344
316
316
74
224
255
1,194
267
5,102
5,224
577
577
180
590
851
4,576
946
13, 127
13, 481
1,969
1,969
675
1,411
1,772
9,294
2,213
18, 104
18, 520
2,814
2,814
853
2,126
1,534
17, 731
4,823
23, 902
24, 723
3,529
3,511
1,076
2,023
6,834
62, 773
47, 542
76, 173
77, 914
11, 552
11,514
4,383
10, 592
6,714
37, 945
42, 895
67, 606
69, 636
9,093
9,056
2,771
8,650
10, 663
152, 017
167, 861
262. 252
266,871
47, 686
47, 599
15, 657
36, 154
9,794
68, 937
142, 812
107, 483
112, 895
24, 998
24, 912
9,290
18, 827
24, 632
573,456
542, 213
384, 613
419, 620
100, 540
100, 372
31, 530
64,825
63, 270
■ 928, 923
951, 211
961, 602
1, 012, 230
203, 074
202, 641
66, 488
145, 423
MINING— RETURNS WITH NO NET INCOME
1,422
2,036
3,948
6,741
4,025
8,504
44
1,519
8,203
9,913
18, 103
20, 727
23, 174
87, 243
24,615
28, 720
67 8, 320
67 6, 105
67 5, 440
67 4, 668
2,833
26, 389
6,345
38, 384
2,766
3,059
5, 075
5,518
8,179
35, 625
4,363
13, 207
2,843
3,125
5,197
5,642
8,479
36, 534
4,556
13, 218
38 1, 602
38 836
38 1, 470
38 1, 152
38 1, 358
38 2, 091
3*821
38 125
38 1, 602
38 836
38 1, 471
38 1, 152
38 1, 358
38 2, 101
39 821
38 125
9
15
3
11
1,249
761
28,239
220, 698
49, 420
77, 791
79, 594
38 9, 455
38 9, 466
2,047
MINING— RETURNS WITH NET INCOME
44
76
374
100
1,230
■ 3, 298
163
154
497
584
1,751
4, 133
4,251
11, 602
57 160
73
678
55
75
57 1,711
2,556
522
1,980
1,847
15, 240
17, 828
23, 423
10, 586
19, 186
27, 156
1,994
1,868
15,304
17, 885
23, 567
11, 624
19, 478
30, 014
49
70
438
744
1,061
1,079
810
1,275
49
70
438
743
1,061
1,078
810
1,272
4
6
125
182
359
175
101
2
3
10
179
420
111
330
21, 330
30, 939
51, 416
46, 052
43, 497
44, 552
3,916
3,916
1,182
2,976
57,392 1 74,551
48, 141
160, 743 166, 286 9, 442 1 9, 436 | 2, 133
4,030
MINING— RETURNS WITH NO NET INCOME
149
257
791
30
36
2,405
900
424
266
1,045
1,000
3,011
5,000
57 1, 162
67 497
67 442
57 1, 001
57 335
67 883
1,689
2,747
4,224
9,558
2,137
4,581
6,824
5,991
2,780
4,240
9,645
2,146
4,625
6,866
7,046
38 119
38 106
38 211
38 22
38 122
38 295
38 1, 381
38 119
38 106
38 211
38 22
38 122
38 295
38 1, 382
15
140
100, 549
26, 748
67 12, 850
57, 414
60, 070
38 1, 281
38 1, 281
104, 218
38, 394
67 15, 481
93, 476
97,418
38 3, 538
38 3, 539
156
146
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, hy total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes so
Num-
ber
of re-
turns
with
balance
sheets <"
Cash 41
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets 42
(less re-
serves)
Total
assets-
total lia-
bilities 45
Accounts
and notes
payable '^
MINING AND QUARRYING: BITUMINOUS COAL,
1
179
116
162
94
88
99
24
23
638
1,078
2,618
2,538
5,495
12, 662
7,848
22, 157
1,200
2,522
6,472
6,949
10, 126
28, 992
13, 191
51, 382
241
444
1,331
1,936
3,156
7,464
5,908
17, 185
102
326
1,171
3.013
5,236
34, 767
29, 000
92, 329
2,109
3,530
13. 590
19. 267
36, 426
114,012
107, 693
269, 731
4,469
8,297
25, 973
34, 619
61,899
202, 151
166, 532
458, 047
1,968
3,133
6,942
5,999
9,293
21, 999
16, 001
23, 305
50
100
250
500
1,000
5,000
10,000
50,000
100,000
Total...
785
55, 033
1,20, 834
37, 666
165, 944
566, 357
961, 986
88, 639
MINING AND QUARRYING: BITUMINOUS COAL, LIGNITE,
1 .
335
95
93
34
35
44
7
7
398
503
837
362
930
2,765
1.459
2.340
1,120
1,159
2,554
1,438
2.884
5,607
1.957
7.546
219
285
567
295
830
3, 715
1,202
3,818
219
221
671
936
1,832
9,672
3.678
8,853
3,704
4,362
9,959
8, 089
16, 725
73, 233
42, 552
98, 783
5,943
6,745
15, 097
11, 679
23, 792
97, 924
55. 036
122, 287
4, 555
4,214
4,108
3,670
6,490
19, 464
8.901
8,846
50
100
250
500
1,000
5,000
10,000
50,000
100,000
2
2,488
13, 587
3,586
28, 199
180,863
229, 270
5,444
Total---
652
12, 084
37, 851
14, 519
54, 281
438, 271
567, 774
65, 694
MINING AND QUARRYING: CRUDE PETROLEUM AND
1
778
291
332
205
130
130
25
24
2
1
1,665
1.435
4,036
4.957
6,175
23, 006
11,617
25, 642
2,885
696
2,366
3,275
8,341
10, 564
10. 407
33. 134
18, 250
34, 036
1,572
50, 819
223
367
733
1,303
1,966
7,844
7.916
17. 795
2,648
3,681
675
1,098
3,151
6,130
6,690
32, 903
31,497
116, 100
15,817
3,658
10, 743
13, 846
33, 794
49, 327
60, 631
161,629
102, 233
224, 840
99, 090
62, 628
16, 283
20, 913
53,245
74, 264
88. 066
265, 953
174, 532
420, 327
122, 510
121, 988
3,721
4,723
8,538
15, 076
14, 022
35, 632
19, 425
32, 908
1,204
3,486
50
100....
250...
500 ...
1,000 .
6,000 .
10,000
60,000
100,000
Total...
1,918
82, 115
172,756 44,374
216, 621
818, 760
1, 358, 071
138, 735
MINING AND QUARRYING: CRUDE PETROLEUM AND
1
1,114
310
319
1,54
89
83
11
7
1
979
815
2,377
2,120
2,078
4, 379
4,503
5, 038
3,188
2,293
2,782
6,870
5, 644
7, 760
21,022
2, 2,58
6,141
1,895
259
317
1,115
992
1,608
4,892
1,874
11,878
898
1,118
1,683
3,298
4,243
4,932
19, 862
8, 301
29, 476
105
14, 292
15,711
35, 663
39, 095
46, 498
124, 871
58.314
115, 729
88, 434
19, 804
22, 483
50, 500
65, 368
63, 865
179, 488
77, 170
170, 702
94, 923
11,769
8,848
18, 519
16, 163
28, 889
35, 743
12, 551
34, 608
645
60 ....
100
250
600
1,000
5,000
10,000
60,000
100,000
Total...
2,088
25, 477
55, 665
23, 832
73, 019 537, 608
734, 294
166, 735
For footnotes, sec pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
147
by major industrial groups,^ for returns with net income and ret^irns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable ^
Capital
stock 54
Surplus
and
undivided
profits "
(less
deficit)"
Gross
sales 's
and gross
receipts
from
opera-
tions 1'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
LIGNITE,
PEAT, ETC.— RETURNS WITH NET INCOME
445
1,834
5-590
18, 896
19, 333
714
714
154
108
823
3,630
57 495
29,449
30, 198
1,285
1,285
324
169
2,631
12, 259
604
63, 004
64,688
3,884
3,880
1,170
703
2,263
15, 899
7,210
70, 5f 8
72, 050
4,645
4,637
1,735
1,341
4,600
31, 726
10, 612
96, 764
68, 808
7,427
7,420
2,747
2,523
21, 528
82, 462
67, 801
187, 863
194, 019
13, 167
13, 136
4,208
5,320
27, 415
58, 294
57, 385
100, 964
104, 785
7,011
6,985
2,293
2,278
59, 649
213, 806
149, 961
264, 859
279, 352
18, 671
18, 158
6,223
5,282
'
119, 355
419, 909
292, 488
832, 397
863, 233
56, 805
56, 215
18, 853
17,724
PEAT, ETC.— RETURNS WITH NO NET INCOME
1,785
1,906
3,092
997
3,671
28,625
20, 388
29,756
4,799
4,558
9,944
6,706
10, 442
• 45, 172
21, 821
55, 653
5' 6, 860
57 5, 121
57 4, 049
57597
1,195
57 2.016
57 2. 443
24,500
18, 844
14, 164
23, 405
11,773
22, 209
64, 059
22, 276
72, 274
19, 158
14, 481
24, 273
12, 162
22, 812
66, 326
24, 706
74, 495
38 1, 172
38 631
38 1, 619
38 766
-8 871
38 3, 371
38 878
38 2, 361
38 1, 173
38 631
38 1, 619
38 767
38 880
38 3, 372
38 879
38 2, 368
2
15
23
15
87
1,668
813
39, 312
95, 000
83,65i
60, 628
64, 321
' 38 1 268
38 1, 274
129, 532
254 094 s* ifii
309, 633
322,734 38 12 938 1 33 12. 964
2,623
NATURAL GAS PRODUCTION— RETURNS WITH NET INCOME
1,512
23, 382
57.14,135
12, 980
14, 040
2,483
2,482
462
1,789
1,441
16,238
57 2, 684
13. 887
14, 736
2,236
2,236
437
1,352
4,876
33, 901
2,008
31,221
33, 386
5,014
5,014
1,263
3,392
7, 514
32, 457
14, 178
43, 949
46,014
6,899
6,897
2,061
4,506
9,021
41,299
18, 526
37, 244
39, 335
5,431
5,428
1,653
3,723
26, 993
81, 454
106, 637
113,973
122, 863
18, 578
18,513
5,505
11, 734
35, 103
61,613
51,382
101,075
105, 985
11,421
11,362
3,353
4,725
55, 776
158,006
162,802
148,223
161,888
25, 017
24,818
5,725
41, 471
41,296
47, 513
30, 643
34, 931
35, 882
2,711
2,711
719
5,350
4,000
112, 703
69, 729
72, 663
31,803
■31, 803
9,859
32,000
183, 531
500, 763
482, 060
607,211
646, 790
111,593
111,264
31, 036
110,042
NATURAL GAS PRODUCTION— RETURNS WITH NO NET INCOME
3 253
32 335
57 29, 870
57 17 238
8 705
9 614
38 3 886
38 3, 886
261
9,817
10, 696
19 632
7 678
8 154
38 2, 677
38 2,677
153
40, 108
57 21,895
17,632
19, 625
38 3, 994
38 3, 997
361
13,958
33, 788
57 10, 259
17,767
18, 964
38 3, 459
36 3, 459
499
' 9,990
34, 602
57 19, 204
20, 277
21,368
38 4, 028
38 4,028
385
34, 623
71, 666
23,315
45, 422
48, 076
38 8,515
38 8,515
1,625
12,580
18, 183
31, 722
14, 215
15, 550
38 1,313
38 1,322
446
69, 286
46,111
18, 313
41, 278
43, 763
38 4, 589
38 4, 589
1,188
40,211
50, 993
2,233
15, 672
15,714
38 37
38 37
500
"*
204, 415
347, 418
57 22, 883
188, 646
200,828
38 32, 498
38 32, 511
5,41&
148
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balance
sheets *"
Cash «
Notes and
accoimts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 61
Capital
assets <■'
Oess re-
serves)
Total
assets —
total lia-
bilities <5
Accounts
and notes
payable =2
MINING AND QUARRYING: NONMETALLIC MINING AND
1 - - .
293
183
216
101
52
70
2
4
1
857
1,537
3,786
3,438
3,757
11,410
1,793
7,311
11,586
1,721
2,750
7, 131
5, 246
6,674
13, 435
956
5,963
3,531
357
735
1,772
2,273
1,906
9,644
266
9, 761
17, 220
191
441
2,108
2,893
2,634
19, 033
6,723
6,340
3,749
4,201
7. EOE
2 nns
50 -
7, 092 1 / 13! 004 i 3, 276
18, 468 34, 154 5, 892
20, 169 35, 061 5, 155
18, 485 34. 478 4. 604
100
250
500
1,000
87, 534
2,034
31,903
27, 156
146, 250
11,969
64, 915
64, 237
12, 339
6,214
2,192
355
5,000
10,000
50,000
100,000
1
Total...
922
45, 476
47, 406
. 43, 934
44, 110
217, 043
411, 574
42, 035
MINING AND QUARRYING: NONMETALLIC MINING AND
1
311
93
77
30
18
13
327
211
353
287
343
259
959
807
1,280
1,080
772
1,131
456
468-
799
812
579
953
196
159
977
1,172
929
639
3,618
4,838
7,127
6,055
9,715
16, 732
5,746
6,791
11,610
9,660
12,710
20, 233
3,245
2,453
2,295
6,760
1,580
1,653
50
100
250 .....
500
1,000
5,000
10,000 .
i
564
770
733
935
11, 461
14, 868
351
50,000
100,000
Total...
543
2,345
6,799
4,800
5, 007
59, 546
81,618
18, 336
MINING AND QUARRYING NOT ALLOCABLE-
1
7
5
9
1
1
6
48
ISO
28
42
14
33
113
1
27
4
16
46
25
30
97
104
213
951
225
395
155
372
1, 502
254
546
48
51
152
.10
63
50
100
250
500
33
46
1,000
5,000
10,000
50,000
100,000
Total...
23
275
189
99
197
1,888
2,829
324
MINING AND QUARRYING NOT ALLOCABLE—
1.
62
30
20
7
4
43
21
24
46
1
88
163
343
37
568
22
113
1
6
9
162
146
77
115
736
633
1,520
2,347
1,700
1,543
1,031
2. 336
3,030
2, 067
2,987
428
545
276
,589
965
50
100_ ^.
250
600._
1,000
6,000
1
68
32
625
2
4,449
5,507
5,060
10,000
50,000
100,000
,
Total...
124
202
1,230
775
1,238
12, 192
16, 958
7,863
For footnotes, see pp. 234-230.
STATISTICS OF INCOME FOR 1941, PART 2
149
by major industrial groups.^ for returns with net income and returns with no net in-
net 'profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgaees
payable "
Capital
stock 34
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales 1'
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 59
Divi-
dends
paid "
QUARRYING— RETURNS WITH NET INCOME
610
4,493
5' 245
13,963
14,118
1,116
1,116
288
260
1,104
6,643
1,173
18,882
19, 235
1,756
1, 754
467
447
3. 267
16, 365
6,641
44, 471
45, 229
5,193
6,190
1,816
1,289
3,266
15, 243
9,278
36, 281
37, 363
4,635
4,623
1,691
1,190
1,665
12, 529
13, 224
38, 172
39, 012
6,429
6,418
2,314
1,257
8,835
67, 791
49, 592
98, 907
101,252
16, 887
16, 859
6,847
5,359
997
1 800
2,811
27,874
6,999
7,308
949
948
248
9,860
20, 867
31,298
32, 362
6,416
6,415
2,201
3,771
26, 175
37,144
26, 097
26, 466
8,864
8,854
3,929
9, 600
29, 593
171, 904
146, 493
315, 060
322, 324
51, 235
51,178
19, 790
23,164
QUARRYING— RETURNS WITH NO NET INCOME
1,047
1,133
1,744
1,810
4,290
5,592
4,500
4,757
8,020
5,243
4,147
8,441
57 3, 350
57 2, 322
57 1, 057
67 4, 675
1,365
3,736
6,420
3,983
5,166
3,414
4,214
5,946
6,560
4,040
6,357
3,504
4,320
6.181
38 738
38 505
38 733
38 418
38 440
38 490
38 738
38 505
38 733
38 418
38 440
38 490
7
3
30
9
13
13
3,325
7,876
3,178
3,300 } 3,376
38 122
38 123
77
" . " 1 1
18, 941
42, 984 57 3. 1 2S
32,434 { 33.328 38 3. 44fi 883.447
163
RETURNS WITH NET INCOME
25
70
109
98
100
886
60
260
67 34
132
306
191
226
184
494
966
20
356
186
496
973
22
362
8
64
79
18
32
8
64
79
18
32
1
20
14
4
9
1
27
11
10
(H)
203
1,383
820
2,010
2,039
202
201
48
49
RETURNS WITH NO NET INCOME
103
730
606
715
219
1,268
2,114
2,410
767
1,449
67 792
67 2, 357
67 5J03
67177
353
388
205
193
129
169
391
208
199
142
169
38 258
38 224
38 119
38 149
38 42
38 258
38 224
38 119
38 149
38 42
1
1
100
5,683
6,723
2,374
8,108
67 3,477
6,768
6,832
38 793
38 793
2
150
STATISTICS OF INCUME FOR 194 1, PART 2
Table 6.— Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balance
sheets "
Cash «
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable ^2
TOTAL MANUFACTURING—
1
50
100
250
500
1,000
5,000:
10,000
60,000
100,000
Total..
18, 353
9,239
11,365
6,490
4,430
4,691
756
657
90
94
56, 165
47, 717
65, 829
171, 748
202, 055
282. 284
944, 776
502, 287
1, 201, 156
637, 836
1, 957, 705
116, 934
172, 635
436, 005
505, 787
635, 233
1, 809, 542
893, 644
2, 022, 096
828, 698
3, 068, 719
104, 482
179, 099
513,189
657, 842
905, 064
2, 690, 202
1, 324, 014
3, 098. 220
1, 729, 053
4, 515, 794
10, 537
20, 679
75, 973
122, 552
206, 357
883, 868
592, 037
1, 906, 193
994, 672
5, 727, 697
137, 149
211, 134
578,511
739, 965
997, 206
3, 334, 2f 0
1, 814, 895
4, 682. 639
1,838,235
9, 172, 083
429, 339
668, 540
1, 828, 293
2, 294, 168
3, no, 303
9, 913, 177
5, 252, 817
13, 158, 445
6, 174, 930
24, 699, 244
134, 165
177, 676
422, 333
461, 282
545, 131
1, 454, 532
654, 673
1, 515, 839
683, 178
2, 447, 274
6, 013, 394
10,489,292 15,716,958 10,540,564 23,506,076
i I I
67, 529, 255
8, 496, 082
TOTAL MANUFACTURING-
1
16, 469
2,700
1,926
685
384
270
26
19
1
1
16,116
8,570
13,019
9,050
12, 547
27. 285
8,164
17, 824
2,138
21, 287
56, 943
35, 427
50, 849
37, 674
35, 861
83, 139
14, 051
29, 941
14, 972
9,761
53, 492
38. 282
60, 597
47, 002
47, 308
91, 863
32, 829
56, 134
9,751
23, 754
7,008
7,921
15, 928
17, 003
23, 699
54, 390
26, 472
76, 171
5,657
6,276
110,667
89, 637
139, 796
114,092
138, 363
263, 662
81, 174
129, 373
25, 697
128, 946
257, 094
189, 766
294, 561
235, 644
267, 243
541,519
179, 272
325, 950
58, 444
192, 033
121, 545
71, 097
88, 999
61, 791
55, 695
118,430
33, 251
36, 796
57, 476
9,583
50
100
250
600
1,000 -
5,000-
10,000
60,000
100,000--
Total.-.
22, 480
136, 000
368, 618 461, 013
240,527 1 1,221,406
2, 541, 526
654, 664
MANUFACTURING: FOOD AND KINDRED
1..
50 -
100
250
600
1,000
5,000
10,000
60,000
100,000
Total. -
1,802
1,029
1,355
736
439
443
58
76
10
11
5,959
4,087
5,678
16. 890
17, 864
23, 971
73, 817
38, 348
116, 107
59, 909
118, 489
7.946
13, 285
37, 148
46, 284
50, 720
142, 342
49, 032
177, 549
90, 508
268, 200
476, 161
883, 012
16,
52,
62,
84,
256,
97,
369,
213,
394,
1, 554, 781
1,184
2,319
8,646
13, 787
20, 194
78, 549
35, 288
229, 854
75, 012
420, 552
20, 257
34,166
97, 227
112,408
123, 211
353, 178
167. 113
564, 000
204, 924
534, 405
43, 533
74, 734
218, 537
261, 700
312, 237
931, 110
395, 273
1, 489, 950
652, 917
1, 749, 954
885, 385 2, 210,
13, 090
18, 592
46, 937
50, 962
56, 621
171, 708
75, 541
176, 616
76, 666
199, 727
6, 129, 944 886, 460
MANUFACTURING: FOOD AND KINDRED
1
1, 869
492
357
103
74
43
1
3
1,825
1,479
1,749
1,126
2. 238
4, 521
42
2,647
6,376
5,027
7,417
4, 897
6,376
9, 532
461
2,877
5,500
5,071
7,598
6.791
9.459
11, 932
1,549
2,672
974
1,242
2,302
2,144
3,032
5,611
411
1,822
18, 872
20, 284
31, 677
19, 7,56
31, 306
50, 792
4,051
36, 840
34, 000
34, 594
52, 871
36, 043
53, 708
83, 939
6,663
47, 150
14, 989
13, 388
14, 701
10, 657
13,090
13, 386
1,185
4,576
60
100
260
500 -
1,000
5,000
10,000 -.
50,000 -
100,000
Total...
2,942
16,527 1 41,961
, 60, 572
17,537 1 213,577 348,967
85, 973
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
151
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
fignres in thousands of dollars]
Bonds and
mortgages
payable 53
Capital
stock 54
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales "
and gross
receipts
from
opera-
tions 17
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 59
Divi-
dends
paid 8
RETURNS WITH NET INCOME
38,019
224, 663
67 662
1, 363, 204
1,372,099
51, 438
51,393
11,145
8,056
52, 114
291,002
99, 947
1,764,660
1,777,052
85, 261
85, 209
23, 896
13, 817
128, 496
739, 379
395, 876
4, 241, 241
4, 274, 820
265, 900
265, 628
93, 306
45, 749
141, 007
859,343
637, 327
4,782,001
4, 824, 961
372, 728
372, 453
152, 154
69, 512
184, 979
1,116,748
965, 391
5, 947, 812
6, 004, 136
558, 656
558, 055
246, 261
107, 505
574, 985
3, 421, 178
3, 482, 886
15,567,611 15,742,360
1,819,202
1,817,166
849, 374
392, 931
291, 483
1, 720, 591
2, 003, 162
6,957,459 1 7,039,492
975, 981
974, 798
489, 116
215, 280
953, 742
4, 634, 646
4, 719, 556
15,503,180 15,726,807
2. 145, 274
2, 143, 069
1,065,414
551, 187
487,612
1, 915, 340
2, 109, 115
7,008,347 1 7,101,570
1, 045, 271
1, 044, 392
519, 415
295, 433
2, 391, 244
9, 260, 707
8. 551, 058
24,217,638 24,841,033
3, 137, 590
3, 135, 479
1,431,139
1,087,687
5, 243, 684
24, 183, 597
22, 963, 656
87,353,154 88,704,330
10, 457, 301
10, 447, 642
4, 881, 221
2, 787, 156
RETURNS WITH NO NET INCOME
48, 571
33,010
49,069
36, 524
51, 988
106,025
56, 794
38,438
3
37,480
205, 145
127, 994
171, 766
135, 245
136, 404
237, 084
36, 767
103, 508
21,819
116, 657
67 146,082
57 57, 368
57 33, 766
67 14, 708
9,051
46, 720
32, 393
116,982
67 21, 096
25, 790
632, 784
304,846
418, 532
295, 159
290, 699
' 475, 273
115,723
159,015
92, 509
76,448
637, 519
308, 113
423, 666
299, 941
295, 546
483, 541
118,350
163, 669
93, 715
77,815
38 37, 404
38 17, 363
38 19, 708
38 15, 247
38 17, 175
38 23, 121
38 10, 802
38 6, 221
38 37
38 400
39 37. 425
38 17, 372
38 19, 719
38 15, 255
38 17, 209
38 23, 157
38 10, 822
38 6, 228
38 37
38 400
584
593
864
548
1,285
2,069
852
1,645
4,666
457, 902
1, 292, 388
6742,085
2, 860, 989
2, 901, 875
38 147, 478
38 147, 624
13, 108
PRODUCTS— RETURNS WITH NET INCOME
3,918
23, 210
793
176,923
177,816
3,961
3,958
800
1,484
7,904
34, 881
9,485
236, 718
238. 130
6,573
6,570
1,513
1, 201
20, 467
92, 922
45, 003
641, 693
645, 679
23, 379
23, 358
6,854
4,644
18, 962
101, 472
74, 271
711,548
716. 324
29, 633
29, 597
10, 372
7,174
27, 354
113,246
97, 305
825, 041
830, 497
38, 379
38, 316
14, 129
9,839
74, 879
347, 605
281, 729
2, 059, 012
2, 077, 151
110,348
110, 169
43, 039
38, 437
28, 876
149,025
123,619
694,031
700, 945
43, 272
43, 145
16, 335
12, 020
118, 506
602, 748
509, 064
2,090,044
2, 127, 096
164, 176
164, 125
57,010
72, 660
70, 447
258, 472
208, 566
1, 004, 935
1,017,338
83, 139
82, 830
27, 045
34, 542
121, 366
799, 844
575, 180
4,156,403
4, 198, 258
144, 639
144, 582
51, 535
87, 077
492, 679
2, 523, 426
1,925,015
12, 596, 348
12, 729, 235
647, 500
646, 650
228, 632
269,079
PRODUCTS— RETURNS WITH NO NET INCOME
6,138
6,437
10,030
7,011
8,172
21, 966
4,653
1,772
24, 689
21, 153
29, 148
17, 898
26, 563
39,200
960
35, 991
57 16. 172
67 8, 173
57 4, 094
67 1, 548
4,002
5.890
67 305
4,363
107, 827
81.052
101, 241
71,748
92, 794
139. 176
2,369
12, 750
108, 425
81, 803
102. 017
72, 382
93, 362
140, 466
2,732
12, 940
38 4, 225
38 2, 471
38 3, 162
38 1, 539
36 2, 601
38 3, 130
38 98
38 343
38 4, 226
38 2, 475
38 3, 163
38 1, 541
38 2, 604
38 3. 132
38 98
38 348
42
367
77
71
292
653
66, 178
195, 601
67 16,037
608, 958
614, 128
38 17, 570
38 17, 587
1,501
152
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes "•
Num-
ber
of re-
turns
with
balance
sheets "
Cash <i
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities *^
Accounts
and notes
payable '^
MANUFACTUEING: BEVERAGES-
1
612
380
388
201
136
186
23
21
2
1,155
2,269
5,712
6,392
8,860
30, 980
15, 267
22, 176
2,731
1,664
2,731
7,030
8, 532
10, 742
66, 432
24,232
49, 593
37, 826
2,711
4,490
10, 356
14, 624
20, 603
90, 516
46, 060
120, 327
52, 785
296
686
2,091
2,442
6,988
26, 537
16, 824
46, 374
40, 634
8,047
15, 666
32, 925
36, 111
46, 420
177, 938
67, 569
162, 891
' 20,814
14, 438
27, 159
60, 448
71, 533
97, 456
396, 401
164, 649
400, 102
166, 300
3,425
5,332
11, 280
13, 875
, 18, 205
69, 118
30, 287
68, 026
26, 942
so
100
260—- -
500
1,000
5,000
10,000
50,000
100,000
Total...
1,848
95, 542
197, 681
362, 461
138, 873
548, 372
1, 387, 485
236, 495
MANUFACTURING: BEVERAGES-
1
461
121.
141
67
40
24
358
310
669
623
608
1,678
998
961
2,644
2,636
3,262
7,451
1,719
1,270
3,662
2,764
4.799
9,261
173
243
652
256
1,530
B,846
5,626
9,500
4,366
3,527
6,246
5,395
6,805
10, 277
50
5,271
13, 683
15, 866
17, 456
19, 283
8,611
22, 830
23,447
28,700
42, 536
100
250
600
1,000--
6,000--
10,000
60,000
100,000
,
Total...
■ 854
4,246
17, 852
23, 466
6,699
77, 184
135, 623
36, 605
MANUFACTURING: TOBACCO MANUFACTURES—
1 --
23
14
37
13
11
14
4
9
3
3
50
83
468
382
543
2,164
1,050
13, 936
12, 053
36, 749
165
315
1,668
1,177
1,890
4,836
4.172
12, 435
17, 293
159, 149
171
327
2,602
2,096
3,596
11,863
18, 188
74, 920
162, 641
406, 852
16
32
344
247
49
6,409
66
46, 690
11,316
49, 674
99
261
1,144
964
1,711
5,661
5,568
29,236
12, 526
103, 084
499
1,033
6,271
5,055
7,976
31, 332
32, 195
179, 098
206, 762
758, 492
147
379
1,627
1,176
1,067
2,643
6,450
13, 394
7,413,
109, 010
50 . -
100
250
500
1,000
5,000
10,000
50,000
100,000
Total...
131
67, 477
203, 090
673, 156
114, 834
160, 254
1, 228, 713
143, 195
MANUFACTURING: TOBACCO MANUFACTURES—
1
76
9
9
6
69
24
49
101
318
113
318
456
315
210
598
657
29
27
148
44
449
233
372
592
1,268
626
1,502
1,911
729
168
312
602
60 - .
100
250.
500 ....
1,000
4
581
5,204
4,263
270
3. 866
14, 506
1,243
5,000
10,000
60,000
100,000
Total...
104
824
6,409
6,043
518
5,511
19, 813
2,943
For footnotes, see pp. 234-236.
I
STATISTICS OF INCOME FOR 1941, PART 2
153
by major industrial groups,^ for returns with net income and retiirns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable 53
Capital
stock 5<
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales >6
and gross
receipts
from
opera-
tions 17
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
Divi-
dends
paid 8
RETURNS WITH NET INCOME
1,388
6,615
1,679
39, 233
39, 631
2,928
2,924
702
1,346
2,457
10, 129
7,060
57, 593
58, 075
5,503
5,502
1,576
2,201
4,762
21,116
17, 180
121,018
122, 443
14, 053
14, 047
4,718
4,668
6,265
23, 732
21,311
131, 679
133, 115
13, 481
13, 478
4,820
4,537
6,558
32,276
31, 953
162,593
164,783
17, 730
17,715
6.401
6,267
29, 740
103, 891
164, 188
648, 593
654, 912
62, 271
62, 172
21,895
21, 615
10, 092
37, 022
74, 898
239, 375
241,851
19, 678
19, 653
6.685
5,091
67, 438
83, 480
164, 329
544, 213
549, 761
65, 386
55, 333
20, 953
18, 213
51,648
37, 580
35, 753
125, 449
126, 978
12, 377
12, 377
3,622
4,987
*"
180, 349
355, 843
518,350
2, 069, 746
2, 091, 549
203, 407
203, 201
71, 373
68,925
RETURNS WITH NO NET INCOME
1, 968
1,595
4,838
4,259
6,006
5,507
6,932
57 4, 471
17, 400
11, 164
28, 083
25, 763
32. 708
32, 909
17, 573
11, 293
28, 369
25, 993
32, 920
33, 567
38 1, 383
38 1, 300
38 1, 662
38 1,515
38 1, 884
38 1, 280
. 38 1,383
38 1, 300
38 1, 662
38 1,515
38 1, 884
38 1, 280
9
6,425
13, 072
12, 620
11,913
15, 281
57 3, 619
57 2, 635
57 1, 610
2, 456
9,490
2
12
/ 12
8
114
24,172
66,243
57 388
148, 026
149, 714
38 9, 024
38 9, 024
156
RETURNS WITH NET INCOME
10
301
9
1,997
2,017
65
65
15
33
80
623
57 75
2,732
2,740
54
54
10
5
341
2,961
1,222
12, 366
12, 458
410
407
90
171
319
2,341
953
7,146
7,193
157
157
35
42
839
3,033
2,700
15,491
15, 598
852
852
302
319
1,315
16, 224
10, 584
33, 363
33, 757
2,224
2,223
668
1,546
1,050
8,905
14, 618
55, 154
55, 433
2,682
2,682
831
840
3,138
93, 954
61, 466
140, 858
146, 139
17, 267
17,118
5,452
11,493
59, 582
56, 706
58, 294
339, 669
342. 579
24,996
24,996
9,297
17, 906
51, 907
366, 855
168, 204
935, 294
943, 672
117, 610
117, 608
45, 906
61, 687
118, 581
551, 902
317, 976
1, 544, 069
1, 561, 585
166, 317
166, 162
62, 606
94, 143
RETURNS WITH NO NET INCOME
302
94
154
156
1,245
546
1,009
1,838
57 1, 096
57 240
13
57 605
2,464
666
1,685
2,763
2,486
675
1,691
2,790
38 175
38 42
38 57
38 254
38 175
38 42
38 57
38 254
15
27
139
5,064
7,892
11, 161
11,284*
38 512
38 512
845
9,703
5,965
18, 739
18, 925
38 1, 040
38 1, 040
154
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes 5"
Num-
ber
of re-
turns
with
balance
sheets *"
Cash "
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 5>
Capital
assets *^
(less re-
serves)
Total
assets —
total lia-
bilities ^5
Accounts
and notes
payable "
MANUFACTURING: COTTON, MANUFACTURES-
1
45
46
96
121
143
199
35
20
1
92
400
1,622
4,409
10, 762
37, 121
19, 738
26, 284
2,216
323
791
3, 133
6,606
13, 615
61, 557
31, 642
66, 091
9,491
459
1,160
5,482
11,916
24, 946
102, 821
59, 734
130, 826
21,515
27
68
370
1,630
4,890
25, 056
23, 119
22, 167
5,735
328
895
6,308
17, 603
44, 541
189, 551
109, 093
153, 403
18, 700
1,247
3,338
17, 255
43, 196
100, 329
421, 736
246, 736
402, 963
57, 868
673
1,217
4,208
6,930
11, 423
43, 347
20, 246
48, 345
13, 807
60
100
250
500
1,000
5,000- -
10,000
60,000
-100,000---
Total...
706
102, 644
193, 149
358, 847
83, 061
540, 422
1, 294, 649
150, 096
MANUFACTURING: COTTON MANUFACTURES—
1
25
9
8
7
5
2
42
71
21
43
78
73
126
107
347
253
337
264
98
164
361
503
322
711
23
22
224
87
149
30
246
289
508
1,645
2,788
2,308
540
657
1.471
2,464
3,702
3,401
307
302
383
646
531
197
50 - —
100
250
500 -..
1,000
6,000 -.-
10,000
50,000
100,000
Total. -
56
329
1,434
2,159
535
7,685
12, 235
2,366
MANUFACTURING: TEXTILE-MILL PRODUCTS,
1
706
415
608
407
363
353
50
31
1,972
2,765
7,606
10, 398
19, 717
61, 861
24, 341
40, 240
4,372
6,619
21, 330
28, 532
49, 164
132, 005
52, 396
73,616
4,351
9,149
30, 646
44, 924
88, 282
248, 660
126, 640
194, 673
394
782
2, 539
6,687
11,456
41, 184
29, 762
67, 629
6,829
10,014
31, 353
48, 611
81, 291
251, 699
110,656
173, 325
17, 409
29, 966
96, 538
142, 073
256, 109
760, 794
352, 476
558, 873
6,191
9,690
26, 764
33, 166
50, 012
124, 885
45, 419
52, 253
50
100
250
600
1,000
6,000
10,000
50,000
100,000
2
31, 671
26, 721
62, 002
7,641
75, 763
207, 733
31, 345
Total...
2,935
200, 461
394, 755
809, 327
168, 074
788, 440
2, 410, 971
379, 707
MANUFACTURING: TEXTILE-MILL PRODUCTS, EXCEPT
1.
560
121
90
40
28
14
1
1
714
368
674
436
1,087
1,175
15
343
1,903
1,296
1, 964
1, 642 *
2,498
3, 636
127
3,967
1,996
1,806
3,113
3, 666
4,548
6,964
3,205
2,037
241
345
653
666
2,939
3,623
112
1,110
4,690
4,523
6,790
6,497
7, 365
11,691
6, 269
2,680
9,814
8,498
13, 786
13,121
19,319
28, 639
8,747
10, 267
5,107
3,308
4,457
3,601
3,028
6,611
1,044
2,337
50
100
250
500
1,000
6,000
10,000
60,000 . .
100,000
Total...
855
4,812
17, 032
27, 336
9,488
49, 605
112, 191
28, 392
For footnotes, sec pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
155
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
fig^ures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock 54
Surplus
and
undivided
profits "
(less
deficit)"
Gross
sales '«
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
Divi-
dends
paid'
RETURNS WITH NET INCOME
92
744
5' 243
3, 854
3,868
112
112
18
8
559
1,833
5' 533
9,893
10, 140
675
675
144
94
1,249
7,748
2,450
43, 561
44, 132
3,606
3,606
1,367
326
2,610
19, 827
8,948
94, 926
96, 409
10, 173
10, 164
4,543
1,286
5,914
46, 075
26, 781
176, 045
178, 755
21, 148
21, 126
9,104
2,859
23, 979
172, 839
149, 787
643, 483
651, 512
75, 335
75,297
33, 534
11, 890
13, 488
77, 226
119,813
317,916
321, 509
41, 127
41, 078
18, 237
5,814
6,531
171,419
157, 677
556, 295
561, 091
57,604
57, 522
23, 316
15, 610
25, 000
16, 732
65,343
66, 440
3,799
3,784
1,087
1 976
54, 422
522, 710
481,413
1,911,314
1, 933, 854
213, 578
213, 364
91, 349
39, 862
RETURNS WITH NO NET INCOME
169
32
43
310
802
268
905
680
834
1,667
727
3,779
57 905
5' 387
129
5' 762
1,419
57 912
1,367
1,262
2,186
3,503
5,176
3,057
1,376
1,267
2,213
3,576
5,238
3,110
38 58
38 46
38 90
38 1,011
38 70
38 35
38 58
38 46
38 91
38 1,011
38 70
38 35
3
80
1,623
8,592 57 1,417
16, 552
16, 780 1 38 1. 309
38 1,311
83
E'XCEPT COTTON— returns WITH NET INCOME
1,992
8,609
57 807
68, 936
69, 427
2,365
2,365
464
287
2,932
11,313
3,600
92, 899
93, 458
3,382
3,379
780
239
7,777
37, 138
16, 918
250, 968
252, 710
11,976
11, 966
3,647
1,178
9,809
56, 369
32, 582
317, 846
320, 731
21, 186
21, 171
8,045
2,578
14, 220
94, 431
79, 435
526, 079
530, 838
40, 075
40, 046
15,914
5,960
33, 040
286, 260
257, 606
1, 233, 355
1, 245, 009
114, 085
114,027
48, 041
19, 971
10, 574
137, 367
132, 893
525, 930
530, 865
51, 450
51, 400
23, 805
12, 481
32, 595
176, 431
266, 588
670, 160
678, 584
75, 257
75, 187
34, 949
15, 566
27. 900
73,447
62, 251
206, 483
208, 024
35,744
35, 744
17, 545
9,213
140, 840
881, 365
851, 065
3, 892, 656
3, 929, 645
355, 521
355, 285
153, 189
67, 474
COTTON— returns WITH NO NET INCOME
2,259
1,299
2,318
2,986
2,954
6,652
1,737
8,746
5,736
7,880
6,820
12, 535
21, 461
216
4,125
" 7, 317
57 2, 698
67 1, 692
87 1, 177
78
67 5, 952
5,594
3,749
30, 770
14, 447
22, 043
19, 810
22, 148
32, 038
7,836
3,602
30, 963
14, 597
22, 352
20, 040
22, 631
32, 306
7,929
3,684
38 2, 401
38 801
38 1, 042
38 910
38 882
38 798
38 59
38 41
38 2, 401
38 801
38 1, 042
38 912
38 884
38 801
38 59
38 41
136
21
24
6
22
70
20, 205
67, 519
57 9,414
152, 695
154, 500
38 6, 934
38 6, 941
279
156
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Cor-poration returns with balance !^heeis, 1941, hy total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balance
sheets "i
Cash«
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments *'
Capital
assets *2
(less re-
serves)
Total
assets —
total lia-
bilities *»
Accounts
and notes
payable ^^
MANUFACTURING: APPAREL AND PRODUCTS MADE
1
2,433
1,189
1,132
470
215
149
16
6
7,548
9,006
15, 425
11,779
10, 262
18, 833
6,147
7,994
19, 570
32, 770
63, 136
60, 153
45, 738
78, 232
25, 044
19, 232
18, 262
32, 799
75, 419
75, 397
68, 563
117, 143
43, 703
42, 736
1,244
1,512
4,065
4,721
6,306
23, 648
13, 561
19, 759
8,778
8,286
16, 908
16, 839
16, 660
45, 612
19, 237
27, 402
56. 493
85, 819
178, 223
162, 610
151, 176
291, Oil
109, 182
118, 959
21, 240
34, 360
71. 247
61, 120
53, 245
74, 788
21, 781
14, 340
50
100
250
500
1,000
5,000
10,000
50,000
100,000-
Total—
5,610
86, 993
333, 874
474, 021
74, 816
159, 723
1,153,472
352, 121
MANUFACTURING: APPAREL AND PRODUCTS MADE
^r-:-:»::::::
2,252
211
96
19
7
4
2,982
1,047
1,136
400
242
611
9,639
5,148
4,767
1,913
681
1,359
9,373
5,431
5,000
2,047
1,070
3,225
919
773
429
797
1,071
1,065
6,192
1,922
2, 225
1,075
1,385
892
30, 123
14, 728
13, 867
6,471
' 4,674
7,251
14, 536
6,811
6,027
2,483
1,076
4,398
100
250
500
1,000
6,000
10,000 -
50,000
100,000
Total...
2,589
6,417
23, 508
26, 147
5,054
13, 692
77, 115
35, 330
MANUFACTURING: LEATHER AND PRODUCTS—
1
439
261
365
208
139
104
14
5
1
1,129
1, 521
4,710
4,445
5,860
20, 766
8,259
7,997
11, 538
3,759
6,172
18, 569
21, 722
26, 700
48, 429
24, 233
31, 509
20, 128
4,035
6,974
25, 007
32, 874
45, 003
100, 068
34, 268
44,876
33, 056
173
406
1,412
3,172
4,701
18, 261
11, 407
4,790
6,275
1,663
2,859
8,910
10, 503
14, 056
37, 780
18, 457
21, 734
16, 841
10, 994
18, 325
59, 948
74, 771
99, 302
230, 033
100, 442
113,243
88, 243
4,178
6,838
20, 939
23, 909
26, 478
45,028
9,379
15, 146
4,608
50....
100
250
600_-.
1,000
5,000_
10,000
50,000
100,000
Total...
1,526
66, 225
201, 222
326, 163
50, 597
132, 802
795, 301
156, 503
MANUFACTURING: LEATHElt AND PRODUCTS—
1
311
62
61
21
6
9
330
181
517
604
216
695
1,689
1,129
2, 596
1,893
960
2,452
2,030
1,202
3,787
3,141
2,043
6,352
137
159
468
320
146
4,391
1,316
935
1,664
1,087
831
4,784
5,634
3,737
9,485
7,266
4,303
19, 541
3,007
1,459
3,940
3, 608
1,628
6,212
50
100
250
500
1,000
5,000
10,000
1
2,967
1,462
2,998
9,075
149
16, 712
321
50,000
100,000
Total...
461
6,510
12, 180
21, 663
14, 696
10, 764
66, 678
20, 176
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
157
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock "
Surplus
and
undivided
profits '5
(less
deficit)"
Gross
sales 1"
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
FROM FABRICS— RETURNS WITH NET INCOME
3,605
24, 394
2,724
286, 051
286, 748
5,059
5,046
941
272
4,338
31, 276
10, 458
347, 376
348,-320
7,239
7,235
1,694
664
9,514
59, 866
26, 848
610, 107
612, 034
15,701
15, 693
4,444
1,430
6,998
64, 611
29, 016
472, 308
474, 636
17, 162
17, 158
6,857
1,927
5,620
44, 997
35, 009
396, 731
399, 299
19, 042
19, 040
7,428
2,968
14, 132
98. 061
84, 038
557, 872
662, 756
40, 573
40, 556
16, 965
7,387
4,774
48, 932
27, 908
166, 371
169, 273
11, 598
11, 697
4,274
2,685
735
37, 375
59, 901 .
163, 103
157, 523
15, 788
L5,7^3
7,027
6,408
_
i
1
49, 716
399, 511
276, 902
2, 989, 919
3, 010, 588
132, 162
132, 077
48, 629
23,631
FROM FABRICS— RETURNS WITH NO NET INCOME
3,489
1,527
1,548
471
173
497
18, 245
7,430
6,183
3,101
3,181
2,827
" 9, 113
" 2, 001
67 514
269
131
"552
163, 676
50, 645
40, 858
12, 856
4,774
10, 742
164, 100
50, 781
41, 044
12, 952
4,920
10, 819
38 4, 107
38 1, 135
38 551
38 220
38 213
37 466
39 4, 107
38 1, 135
38 551
38 220
38 213
38 465
%
6
36
2
1
1
7,706
40, 968
" 11, 781
283, 652
284, 616
38 6, 691
38 6, 692
88
RETURNS WITH NET INCOME
676
5,093
195
40,943
41, 184
1, 148
1,146
217
64
1,135
7,021
2,018
64,328
64, 578
1,512
1,612
339
190
2,769
22, 609
9,854
185,234
186, 507
6,147
6,108
1.697
814
3,283
24, 777
17, 587
210, 967
212,393
7,404
7,398
2,337
1,260
5,197
39, 176
22, 258
231, 194
233, 358
11,099
11, 095
3,874
2,279
28, 092
90, 205
54, 031
407, 277
411,092
29,023
28, 995
10,888
7,840
1,999
32,086
60, 200
162,779
163, 996
12, 880
12, 872
5,333
4,053
. 6, 500
43, 139
43, 770
210, 143
211, 972
15, 029
15, 024
6,001
4,723
68
60, 260
29/729
113, 914
114, 324
9,613
9,613
2,345
6,685
49,619
314, 254
229,643
1, 626, 778
1,639,403
93,855
93, 764
32,032
27,898
RETURNS WITH NO NET INCOME
755
444
896
661
48
3,787
3,781
2,292
4,785
4,154
2,092
7,342
"2,360
"635
"674
"1,486
411
1,735
17,932
8,153
27, 171
20,808
11,614
22,086
18,035
8,221
27,386
20, 929
11,678
22, 256
38 743
38 287
38 945
38 589
38 78
38 631
38 743
37 287
38 945
38 589
38 78
38 631
(")
12
7
28
9
7,728
8,649
12,298
13,392
38 1, 197
38 1, 197
559
6,591
32, 174
6,640
120,063
121,896
38 4, 471
38 4, 471
615
589783—44-
-11
158
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, hy total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than oion stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes "*
Num-
ber
of re-
turns
with
balance
sheets <"
Cash«
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets "
(less re-
serves)
Total
assets-
total lia-
bilities «
Accounts
and notes
payable '^
MANUFACTURING: RUBBER PRODUCTS—
1
123
37
83
48
39
62
8
7
303
260
1,432
1,290
2,492
12, 687
3,770
8,988
807
747
3,405
3,717
6,516
26, 905
10, 347
34,758
705
- 895
4,396
5,084
8,136
41, 114
14, 459
39, 597
13
38
581
810
1,160
11,497
5,541
4,119
891
723
4,488
5,433
9,436
52, 453
18, 668
46, 745
2,814
2,711
14, 668
16,717
28,161
147, 076
55, 846
135, 227
983
726
3,264
3,651
3,931
21, 345
6,762
40, 861
60
100
250
600
1,000 ..
6,000
10,000
60 000
100,000
4
47, 573
153, 010
184, 991
236, 756
207, 814
835, 859
80, 059
Total.. -
411
78, 794
240, 212
299, 378
260, 515
346, 651
1, 239, 077
161, 583
MANUFACTURING: RUBBER PRODUCTS-
1
84
11
3
87
20
5
274
111
83
266
152
44
15
2
70
426
430
173
1,173
725
378
495
284
95
60
100
250
500
1
2
1
1
28
174
2
486
1, 010
666
1,546
3,199
824
2,493
7,651
16
635
1,141
1,000
181
2,535
228
503
6,000
10,000
60 000
100,000
Total...
102
316
1,966
3,178
818
6,440
13,244
2,666
MANUFACTURING: LUMBER AND TIMBER BASIC
1
455
304
434
255
178
164
23
18
1,323
1,953
6,373
8,164
10,665
27, 223
11, 545
14, 508
3,033
5,443
17,615
18, 820
22, 988
47, 370
14, 807
28, 010
3,184
6,081
19, 172
24,577
31, 269
71, 509
19, 727
41, 215
356
611
2,771
6,961
12, 121
38, 944
23, 720
59, 707
4,200
7,838
22, 003
28, 747
41,198
153, 502
85, 590
166, 891
12,503
22, 486
69,715
89, 618
122, 272
348, 058
158, 514
321, 475
4,211
5,903
15,814
16, 024
14, 235
40, 655
8,520
11, 669
60
100
250
600
1,000
5,000
10,000 -
60 000
100,000.
1
6,738
6,222
8,439
32, 581
95, 279
151, 646
1,634
Total...
1,832
88, 492
164, 308
226, 172
177, 773
605, 247
1, 296, 288
118, 663
MANUFACTURING: LUMBER AND TIMBER BASIC
1
329
83
70
35
26
22
3
315
161
741
360
1,134
1,367
652
1, 350
1,306
2,101
2,200
1,913
4,944
619
1,074
1,429
2,083
2,183
■ 2, 806
' 3, 961
1,345
172
300
526
1,006
1,892
4,621
2,898
2,815
2,506
4, 868
5,630
9, 584
27, 054
14, 035
5,992
5,955
10, 651
12, 059
17, 867
42, 815
19, 843
3,153
2,544
4,104
2,515
3,215
4,511
1,449
50
100
250
500
1,000
6,000...
10 000
60 000
inn nnn
Total...
568
4,729
14, 433
14, 882
11,416
66, 492
115, 181
21,490
For footnotes, see pp. 234-230.
STATISTICS OF INCOME FOR 1941, PART 2
159
hy major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figrures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock "
Surplus
and
undivided
profits "
(less
deficit)"
Gross
sales '«
and gross
receipts
from
opera-
tions >'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
329
1,402
5U13
8,312
8,363
383
383
79
28
200
1,008
501
8,325
8,370
429
429
119
69
749
5,756
3,730
32, 317
32,484
2,644
2,543
939
377
800
7,154
3.644
35,644
35, 795
2,659
2,658
1,109
479
2,229
7,506
10,907
63,844
64,303
6,272
6,271
2,833
837
14,444
51, 191
48, 571
259,206
261,042
27, 010
26,986
12, 450
4,769
4,646
18,238
20, 104
92,006
92,396
6,356
6,356
2,303
2,056
18,092
27,458
38, 771
172, 464
173, 240
14, 135
14, 133
5,635
2,076
165, 508
349, 552
181, 704
972, 791
990, 996
91, 902
91,897
38,354
24,542
206,997
469,265
307, 818
1, 644, 910
1,666,988
151, 690
151,657
63,822
35,213.
RETURNS WITH NO NET INCOME
278
175
85
644
660
249
5M09
6' 416
6' 61
2,777
1,297
452
2,818
1,307
452
38 163
38 163
11
38 146
38 20
38 145
38 20
(U)
1,050
737
2,925
12
1,232
812
5' 260
57 121
2,544
11
2,052
9,289
15'
2,061
9,332
38 128
38 144
38 2, 419
38 128
38 144
38 2,419
392
5,261
3,609
1,278
15, 879
15, 985
38 3,008
38 3,008
394r
PRODUCTS— RETURNS WITH NET INCOME
1,381
7,424
6' 1, 486
39, 171
39, 617
1,724
1,723
412
502
2,025
9,612
2,539
65, 093
55, 674
3,404
3,403
1,062
591
6,728
29. 246
11, 937
145, 880
147, 992
11, 576
11,561
4,269
2,473
5,527
37,040
22, 866
166, 646
168, 388
15,200
15, 194
6,409
3,256
12, 762
62, 040
23,424
187, 479
191, 329
20, 563
20, 511
8,746
4,428
33,075
157, 406
88, 756
390,005
399, 503
50, 842
60, 814
21, 936
14,681
11, 769
70, 624
58, 008
141, 291
143, 726
20, 681
20, 662
9,498
6,284
15, 344
160,991
111,748
204,466
212, 343
24,026
24,021
9,730
9,072
12,500
126, 326
65,021
68, 452
16, 848
16, 848
8,138
9,000
88,613
546, 884
444,117
1,394,060
1,427,026
164,863
164, 737
70, 200
SO, 186
PRODUCTS— RETURNS WITH NO NET INCOME
1,121
956
1,726
1,376
7,081
10, 571
6,323
6,903
4,148
8,193
11, 184
10, 096
23,980
5,600
67 4, 761
6' 2, 287
57 4, 307
57 4, 136
57 3, 030
1,972
5,988
11, 886
6,582
10, 479
8,C82
12, 126
16, 506
4,165
12,050
6,723
10, 649
8,341
12, 354
17, 136
4,324
38 974
3S863
38 669
38 586
38 858
38 1, 284
38 180
38 974
38 864
38 669
38 688
29
2
20
171
38 859
17
38 1, 285
38 189
256
29, 164
69,004
57 10, 662
69,826
71, 678
38 6, 416
35 6, 429
493
160
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ' Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes '»
Num-
ber
of re-
turns
with
balance
sheets <"
Cash"
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 5*
Capital
assets <3
(less re-
serves)
Total
assets —
total lia-
bilities *'
Accounts
and notes
payable "
MANUFACTURING: FURNITURE AND FINISHED
1
952
522
615
419
224
150
18
5
1
2,016
2,976
6,290
9, 532
11, 242
18, 127
9,215
9,225
3,994
7,184
10, 926
25, 694
36, 593
34, 717
60, 007
26, 485
18,200
9.765
7,574
13, 357
34, 442
48, 254
47, 882
85, 745
37, 388
28, 824
17, 108
378
834
3,689
6,648
9,839
25, 339
12, 968
26, 920
7,754
5,707
9,038
27, 480
41, 376
43, 675
78, 184
42, 391
22, 036
27, 228
23, 358
37, 863
100, 319
146, 272
151, 084
275, 466
130, 722
106, 314
67, 043
8,210
10, 567
23,511
28, 412
24, 542
50, 970
12, 773
4,648
3,492
io
100
250
500 -
1,000
5,000
10,000
50,000_
100,000
Total...
2,906
72, 617
229, 571
320, 575
94, 370
297, 113
1, 038, 442
167, 124
MANUFACTURING: FURNITURE AND FINISHED
1
771
138
110
29
16
3
708
397
567
288
355
144
3,294
2,355
3,617
1,965
1, 715
850
3,869
2,624
5,269
2,861
2,106
1,017
291
335
753
715
1,430
126
4,304
3,645
6,245
3,202
3,985
3,810
12, 839
9,736
16, 889
9,415
9,S57
6,032
6,286
3,420
5,226
2,218
1,804
597
50
100 -
250
500
1,000.
5 000
10,000
50,000
100,000
Total...
1,067
2,459
13, 795
17, 746
3,651
25, 192
64, 768
19, 549
MANUFACTURING: PAPER AND ALLIED
1
411
258
395
253
183
251
45
42
1
2
1,155
1,664
5,971
7,880
12, 039
47, 122
29,009
60, 707
5,036
15, 063
2,970
4,938
15, 640
19, 747
24,090
78, 579
35, 940
82, 201
7,616
19, 059
2,941
5,094
17,286
23, 890
32, 458
104, 783
50, 369
112,527
8,300
21, 909
263
661
2,541
4,440
9,036
49, 654
40, 602
170, 770
4,161
164, 739
2,970
5,811
21, 902
33, 027
47, 238
217, 441
153, 887
447, 861
38, 402
132, 084
10, 525
18, 667
65, 567
92, 176
127, 983
511, 173
317, 609
891, 686
66, 732
358, 094
2,924
4,658
13, 463
17, 906
18, 100
47, 649
15, 562
59, 353
998
7,721
50
100
250
500
1,000.
5,000.
10,000
60,000
100,000
Total...
1,841
185, 647
290, 780
379, 656
446, 866
1, 100, 623
2,460,211
188, 335
MANUFACTURING: PAPER AND ALLIED
1
171
47
34
12
12
2
147
164
297
30
468
44
768
615
952
187
1,399
476
672
635
1,094
363
1,030
707
70
160
165
237
1,411
1,958
1,288
1,607
2,307
3,327
3,975
2,471
3,070
3,318
6,146
4,182
8,805
6,777
1,336
1,301
1,944
833
2,127
824
50
100
250 .
600
1,000
6 000
10 000
50 OCX)
100 000
Total...
278
1,150
4,297
4,601
4,000
14, 975
30, 298
8,365
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
161
by major industrial groups,^ for returns with net income and returns with no net in-
net -profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thoasands of dollars]
Bonds and
mortgages
payable '3
Capital
stock 5<
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales 18
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax5»
LUMBER PRODUCTS— RETURNS WITH NET INCOME
2,040
11, 349
50
68, 161
68, 678
2,116
2,115
435
136
2,879
16, 126
.5, 984
90, 579
91, 242
3,830
3,829
1,014
438
9,707
41, 982
18, 956
205, 078
206, 820
10, 833
10, 825
3,223
1,388
10, 052
59, 616
38, 354
268, 886
271, 524
18, 716
18, 692
6,497
3,405
10, 003
58, 342
46,640
254, 725
257, 232
21,941
21, 894
9,119
4,186
11, 730
108, 165
81, 216
412, 524
417,032
43, 796
43, 727
18, 947
7,967
4,646
52, 479
51, 790
168, 165
170, 803
18, 651
18, 648
8,261
3,352
10,099
42, 869
42, 060
128, 488
130, 929
15, 592
15, 483
7,198
5,748
13, 423
45, 644
74, 492
75, 028
6,803
6,789
3,297
3,386
1
1
61, 155
404, 350
330, 695
1,671,099
1. 689, 288
142,277
142,003
57, 990
30, 006
LUMBER PRODUCTS— RETURNS WITH NO NET INCOME
2,090
1,985
1,813
1,504
2,389
652
8,823
9,355
8,907
5,563
5,734
3, 107
5' 5, 518
57 5, 718
57 13
57 249
57 411
1,448
30,090
13, 780
21,414
11, 824
7,774
3,338
30, 309
13, 978
21, 585
11, 945
7,932
3,499
38 1, 746
38 788
38 1, 038
38 488
38 500
38 134
38 1,746
38 789
38 1, 039
38 488
38 500
38 134
75
1
44
3
11
10, 434
41,489
57 10, 461
88,220
R9. 248
38 4, 693
38 4, 695
133
PRODUCTS— RETURNS WITH NET INCOME
946
5,667
332
29, 160
29, 349
1,370
1,368
265
171
1,328
8,095
3,323
45,001
45, 316
2,479
2.477
675
342
3, 658
26, 080
17, 547
145, 866
147, 248
9,862
9,857
3,397
1,782
6,368
32, 473
28,564
184, 516
186, 342
14, 184
14, 172
5,686
2,549
9,227
43, 824
46, 098
237, 027
239, 249
23, 294
23,280
10, 287
4,978
44, 067
190, 511
185,092
713, 909
722,011
85, 829
85, 756
39, 028
17, 689
32, 872
113,288
129, 748
350, 492
354, 159
56, 399
56, 363
28,344
13, 053
97, 897
419, 109
261, 516
749, 185
762, 609
114, 418
114, 364
57, 515
29, 166
7,225
44, 943
10, 120
47, 184
47, 543
6,693
6,688
1,901
2,559
65, 587
184, 226
72,127
92, 721
97,160
25, 710
25,704
12,946
10. 710
269, 175
1, 068, 218
754, 467
2,595,063
2, 630, 985
340, 238
340,028
160,044
82, 999
PRODUCTS— RETURNS WITH NO NET INCOME
363
491
604
948
1,269
974
2,601
2,163
2,122
2,236
4,039
2,137
67 1, 561
57-1, 159
288
57 179
939
1,654
6,625
4,499
6,496
3,319
8,737
4,021
6,681
4,559
6,560
3,399
8,932
4,042
38 419
38 269
38 229
38 314
38 1, 550
38 99
38 419
38 269
38 229
38 314
38 1, 550
38 99
(") ,
2
23
4,649
15, 298
57 19
33, 696
34, 172
38 2, 880
38 2, 880
26
162
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balance
sheets "
Cash"
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets *'
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable "
MANUFACTURING: PRINTING AND PUBLISHING
1
3,016
989
940
422
266
246
40
22
2
2
6,833
7.282
14, 226
12,717
16, 954
42, 334
22, 527
31, 359
11,009
2,487
17, 872
16, 833
32, 066
27, 717
31, 446
91, 145
30, 602
52, 269
2,009
45, 057
7,182
9,670
21, 377
21, 952
26, 583
69, 741
16, 803
26. 516
4.304
1,967
2,616
4,090
12, 048
15,423
23, 534
76. 652
64. 885
92,069
64, 701
146. 419
26, 426
29, 480
58, 843
65, 847
78, 226
217, 540
139, 520
173, 092
20, 490
66,528
63, 521
70, 869
146, 982
150, 290
183, 852
516, 385
284. 989
384, 755
103. 721
262, 932
17, 705
13, 846
23, 995
20, 433
22, 239
48,125
21,952
21,684
9,011
53,072
50
100
550
100
2,000
5.000
10.000
60,000
100,000
Total...
6,944
167, 728
347,016
206, 086
601, 338
875, 991
2, 166, 296
252,062
MANUFACTURING: PRINTING AND PUBLISHING
1
3,343
392
222
81
49
29
7
4
2.961
1,292
1,801
1,041
1,207
2.990
1,892
886
12, 651
6.308
7,271
6,600
6.924
11,633
3,128
10, 670
4,899
3,307
4,768
3,353
4,044
5,894
3,664
843
1,726
1,264
2,963
4,294
2.483
11.863
18, 690
18. 732
24. 613
14,056
15, 445
12, 442
17.314
27, 909
12, 452
36. 466
49, 335
26, 924
34, 663
27, 806
33, 442
63,660
49. 714
68, 762
22.800
8,429
9,374
6,984
7,434
23, 239
6,871
8,482
50
100
250
600
1,000
5,000
10,000
60,000
100,000
Total.--
4,127
14,070
62,886
30. 772
62, 005
159, 587
354, 306
92, 614
MANUFACTURING: CHEMICALS AND ALLIED
1
1,390
647
743
473
319
366
49
74
16
6
3,002
4,195
11,669
16. 137
19.911
77,828
40, 847
149, 664
101, 737
111,500
7,082
10, 614
26, 049
34, 803
46, 787
141, 281
51,973
193. 607
135. 102
158, 852
7,827
12, 504
33, 230
47,283
65, 686
203, 124
75. 226
293, 801
264. 584
149, 266
751
1.930
7,074
11,940
19, 639
93, 007
44, 244
303, 826
164, 338
646, 001
8,660
14, 941
37,323
52, 186
66, 564
261, 743
125, 382
582, 597
377, 799
561,950
28,446
46, 131
119,229
167, 662
224, 883
796, 402
347, 233
1, 552, 650
1, 046, 280
1, 535, 102
8,486
10, 877
23. 352
28, 349
39, 947
129. 863
27, 685
163, 771
176, 406
99, 471
50
100
260
500
1,000
5.000 --
10,000
50,000
100,000
Total. -
4,072
536, 489
805, 161
1, 152, 531
1, 182, 761
2, 089, 146
5, 864, 019
708, 207
MANUFACTURING: CHEMICALS AND ALLIED
1 .-..
1,546
189
142
54
22
13
1
3
1,045
556
887
989
1,149
2,727
370
5,453
3,061
1,928
3,170
2,473
1,259
6,282
714
3,912
4,107
2, 468
.3. 410
3. 631
2. 436
2, 969
960
7,337
576
968
1,755
980
2,313
1,184
697
42, 439
8,245
6,750
10, 761
9,329
7,213
9.500
3,485
10, 403
18. 774
13, 685
21,131
18, 649
14, 857
23, 078
8, 306
70, 138
8,766
3,984
5,271
4,187
1,437
5,249
416
11,020
60
100
250
600
1,000
6,000
10,000
60,000
100,000
•
Total...
1,970
13, 177
22, 799
27, 217
50,803
65,685
188, 617
40,329
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
163
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figrares in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock "
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales '*
and gross
receipts
from
opera-
tions 1'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 60
INDUSTRIES— RETURNS WITH NET INCOME
6,720
37, 078
" 2, 600
145, 930
147, 665
5,970
5,960
1,142
1,106
5,593
33, 202
13,423
129, 577
131, 169
6,941
6,931
1,656
1,848
10, 891
63, 571
38, 307
231, 148
234, 893
14, 820
14, 793
4,088
4,828
11,490
61, 196
47, 332
199, 934
204, 101
15, 393
15, 348
4,860
5,764
14, 188
69, 616
65, 095
230, 782
234, 921
19, 639
19, 560
6,758
7,211
46. 620
165, 856
216,898
562. 952
576, 580
60, 832
60, 652
21, 752
23, 308
37, 499
83, 731
113,139
229, 910
237, 140
33, 436
33, 184
11, 953
14, 834
21,414
125, 964
172, 403
332, 935
347, 454
46, 846
46, 683
15,043
23, 608
19. 708
39, 306
34, 301
44, 238
47, 597
5,296
5,224
907
3,041
9,049
126, 768
71, 854
31, 589
33, 720
4,001
4,001
774
1,745
183, 172
806,288
770, 154
2, 138, 995
2, 195, 230
213, 176
212, 335
68, 934
87, 293
INDUSTRIES— RETURNS WITH NO NET INCOME
11, 278
4,688
6,949
5,232
4,094
13, 671
3,730
14, 147
: 38, 214
16, 161
20,473
12, 848
15,426
26, 695
11, 991
22, 845
" 29. 284
«7 4, 968
«7 4, 704
1,565
3,530
" 5, 600
22, 282
22, 487
94, 569
37, 007
45, 607
34, 703
33, 872
55, 519
31, 119
28,819
95, 732
37, 516
46, 307
35, 755
34. 983
57, 720
32, 172
29, 944
38 6, 746
38 2, 334
39 2. 746
38 1, 375
38 3, 184
38 2, 089
39 1, 925
38 1, 124
38 6, 765
38 2, 335
38 2, 750
38 1, 375
38 3, 189
38 2. 092
38 1, 936
38 1, 124
51
67
61
54
126
294
460
63, 789
164, 655
5,308
361, 216
370, 129
38 21, 522
38 21, 565
1,113
PRODUCTS— RETURNS WITH NET INCOME
2,901
17, 479
" 2, 027
68, 738
69, 214
3,965
3,964
900
825
3.750
21, 501
7,506
93, 354
94, 269
5,868
5,850
1, 504
1,262
6,515
52, 240
29, 447
229, 004
231, 226
17, 752
17. 697
6,014
3,582
8,644
66, 735
52, 394
305, 624
308, 035
27, 940
27. 919
10. 498
7,353
10, 577
80, 969
75, 106
362, 632
366, 486
36, 803
36, 734
14, 719
9,426
36, 854
283, 523
288, 950
1,016,841
1, 032, 909
136, 335
136, 021
56. 813
43.848
18, 703
124, 708
144, 987
391, 347
396, 160
69. 078
68. 970
30, 606
23, 268
94, 450
608, 323
581, 734
1, 361, 243
1,386,116
229, 250
228, 698
103, 538
76, 687
31, 452
335, 389
386, 478
1, 096, 083
1, 108. 184
189, 044
188, 914
95, 315
54. 370
35, 228
623, 048
619, 250
1, 176, 119
1, 239, 962
297, 890
297, 502
136, 940
114, 220
249, 073
2, 213, 916
2, 183, 825
6, 100, 984
6,232,560
1, 013, 925
1, 012, 269
456,847
334, 842
PRODUCTS— RETURNS WITH NO NET INCOME
3,778
2,195
2,644
2,408
3,138
3,175
9,197
7,697
17, 744
9,698
13, 520
12, 439
7,517
6,592
67
2,300
" 12, 925
6? 3, 143
"1,317
" 1, 378
2,041
7,038
" 1, 497
46, 609
23, 575
12, 606
20,567
18, 561
9,550
13, 792
4,378
19, 109
23, 813
12, 868
20, 834
18, 851
9,695
14, 227
4,576
20, 397
38 3, 029
38 1, 072
38 1, 454
38 1, 240
38 1,413
38 605
38 275
38 1,066
38 3, 029
38 1, 073
38 1,454
38 1, 240
38 1, 424
38 606
38 275
38 1, 068
26
7
47
81
111
115
4S0
34, 233
69, 877
35,428
122, 136
125, 262
38 10, 154
38 10, 170
837
164
STATISTICS OF INCOME FOR 1941, PART 2
Table ^.^Corporation returns with balance sheets, 1941, by total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes ^o
Num-
ber
of re-
turns
with
balance
sheets "
Cash<i
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities «
Accounts
and notes
payable "
MANUFACTURING: PETROLEUM AND COAL
1
75
43
60
36
46
73
14
23
8
21
268
427
1,039
1,206
2,834
14, 746
10, 432
29, 693
58, 491
391, 653
446
822
2,550
2, 633
5,963
28,480
11, 777
51, 783
60, 435
750, 786
237
531
1,327
2,408
6,389
34, 703
20, 892
68, 097
105, 084
731,281
43
104
338
514
1, 984
10, 186
6,050
31, 741
59, 621
1,719,709
741
1,335
3,926
5,855
13, 708
70, 589
62, 710
261, 284
323, 121
3, 412, 920
1,781
3,315
9,539
12, 882
31,831
162, 666
105, 088
453, 751
614. 302
7, 079, 971
519
1.124
2,181
4,054
9,020
29, 133
15, 045
37, 912
47, 370
568, 203
50
100
250
500 -
1,000 ...
5,000
10,000 -. .
50,000 --
100,000
Total. -
399
510, 789
915, 575
970, 947
1,830,290
4, 146, 190
8, 475, 127
704, 561
MANUFACTURING: PETROLEUM AND COAL
1
82
32
25
11
7
12
2
2
1
1
91
86
232
264
645
901
157
1,412
2,138
21, 287
260
360
580
490
610
2,449
1.408
1,759
14, 972
9,761
146
219
515
463
467
3,270
6,933
8,174
9,751
23, 754
34
58
369
344
387
384
1,060
667
5, 657
6,276
655
1,412
1,984
2,001
2,142
15, 161
4,474
24, 698
25, 697
128, 946
1,237
2,218
3,857
3,673
4, 346
26, 473
13, 382
37, 392
58,444
192, 033
639
967
1,292
1,273
1,248
6,523
8,666
2,128
57, 476
9,583
50
100
250
500
1,000.
6,000
10,000
60,000
100,000
Total.!.
175
27, 113
32, 648
52, 693
15, 236
207, 169
343, 054
89, 795
MANUFACTURING: ^TONE, CLAY, AND GLASS
1
613
375
460
223
176
183
31
32
5
1
1,537
2,685
7,182
7,328
12,419
37, 879
19, 694
76, 653
3,867
3,385
340
895
3,681
3,751
9,801
37, 098
25, 575
104, 203
122, 480
25, 060
5,726
11, 300
30, 988
34, 698
54, 184
178, 838
121, 724
293, 845
92, 1S9
65, 100
16, 222
27,595
72, 109
78, 237
125, 663
377, 575
224, 506
660, 958
331, 242
141, 389
4,037
5,927
11, 118
10, 548
13, 855
29, 100
12, 806
59, 398
10,483
9,075
60
6,789
14, 849
14, 637
20, 536
49, 093
19, 023
63. 81 1
5,327
13, 476
16, 044
24, 950
63, 506
35, 034
113,905
44, 920
25, 455
100
250
600 . . .
1,000 . .
6,000
10,000- .-
60,000-..
24, 718 42, 489
11, 290 12, 779
100,000
Total...
2,089
201, 385
247, 874
346,003
332, 885
.888, 591
2, 054, 496
166, 347
MANUFACTURING: STONE, CLAY, AND GLASS
1
601
157
130
45
17
20
2
670
426
731
459
619
1,463
314
2,330
1,918
2,383
1,667
835
1,846
320
2,319
1,643
2,951
2,637
1,617
3, 995
1,093
270
464
1,210
1,096
927
2, 662
129
5,534
6, 161
11,371
8,098
11,454
10, 966
19, 351
14. 940
5,225
3,918
4,636
2,213
1,316
3.171
675
60 .
100 . . .
250 .
600
8,501 1 12.791
1,000
31,876
14, 821
42, 730
17, 243
6,000
10,000
60,000
100,000
Total...
972
4,482
11,305
16, 255
6, 758 86, 361
129, 474
21, 155
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
165
hy major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock "
Surplus
and
undivided
profits "
(less
deficit)"
Gross
sales 1*
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
netTrofit
or net loss
Net in-
come or
deficit 3
Total
taxsa
PRODUCTS— RETURNS WITH NET INCOME
120
864
179
5,438
5,484
268
268
55
60
231
1,258
414
9,023
9,092
354
354
77
71
1,222
6,553
" 1, 277
29, 496
29, 745
1,446
1,445
454
193
835
3,674
3,121
33, 072
33, 244
1,789
1,787
610
328
2,818
9,188
8,304
74, 414
74, 930
4,485
4,483
1,602
959
10, 035
60, 485
48, 860
318, 177
321, 201
25, 598
25, 590
10, 143
7,691
9,210
39, 330
36, 139
134, 141
135, 796
11,021
11,021
4,193
3,210
67, 237
227, 660
100, 638
494, 718
503, 249
41, 674
41, 666
16, 473
15, 822
75, 314
273, 463
192, 359
644, 893
658, 191
70, 466
70, 460
25, 578
32, 668
856, 094
3, 119, 979
2, 324, 584
3, 870, 771
4, 125, 998
353, 110
352, 613
63, 553
227, 514
1, 023, 117
3, 742, 453
2, 713, 321
5, 614, 142
5, 896, 931
510, 211
509, 687
122, 737
288, 515
PRODUCTS— RETURNS WITH NO NET INCOME
913
493
511
513
476
11, 103
2,820
245
3
37, 480
1,786
1,995
1, 908
2,994
1,760
9,572
3,278
7,995
21,819
116, 657
" 2, 371
" 1, 510
64
W 1, 259
706
" 1, 932
" 1, 661
26, 344
" 21, 096
25, 790
2,905
4,207
5,034
5,541
6,362
27, 955
28, 924
18, 534
92, 509
76,448
3,050
4,284
5,162
5,605
6,512
28,084
29, 281
19, 074
93, 715
77, 815
38 1, 057
38 555
38 252
39 217
38 209
38 2, 371
38 356
38 42
38 37
88 400
38 1, 057
38 555
38 252
38 217
38 210
38 2, 372
38 356
38 42
38 37
38 400
10
150
4,666
64, 557
169, 764
23, 065
268,419
272, 582
88 5, 495
38 5, 498
4,826
PRODUCTS— RETURNS WITH NET INCOME
1,254
9,646
«'646
33, 830
34, 114
1,561
1,559
308
201
2,019
18, Oil
88
51, 754
52, 399
3,146
3,145
830
557
5,022
35, 620
15, 181
114,054
115,430
9,556
9,551
3,113
2,559
5, 884
34, 786
21, 290
117,600-
118, 688
10, 675
10, 660
4,171
2,570
6,005
56, 227
39, 804
180, 976
182, 915
19, 932
19, 910
8,360
5,466
22, 156
165, 351
134, 395
384, 351
390, 225
56, 446
56, 390
24,008
15, 509
10, 174
119,839
71, 802
164, 579
167, 633
21, 890
21, 840
7,759
8,575
60, 350
271,045
218, 925
604, 878
614,244
116, 598
116, 546
57, 400
33, 948
9,779
123, 694
145, 282
322, 486
333, 465
76, 923
76, 825
39, 995
27, 096
54,964
63, 362
189, 241
192, 266
■ 27,786
27, 763
12, 723
10, 961
112,643
889,184
709, 484
2, 163, 750
2, 201, 380
344, 514
344, 190
158, 667
107,441
PRODUCTS— RETURNS WITH NO NET INCOME
1,846
1,554
3,974
2,3l6
4,832
7,845
7,223
10, 132
7,690
13, 372
9,598
5,120
20,988
9,993
" 7, 043
" 3, 218
" 4, 067
354
933
6,435
»' 4, 916
15, 418
9,615
14,249
9,111
6,748
16, 610
2,136
15, 609
9,805
14, 532
9,292
6,862
16, 964
2,165
38 1, 575
38 756
88 1, 256
38 668
88 165
88 2, 022
88 1, 080
38 1, 575
38 757
38 1, 257
89 668
38 169
38 2, 031
38 1,080
74
12
428
16
37
77
29, 590
76, 893
" 11, 521
73,888
75, 230
88 7, 522
88 7, 537
646
166
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and'
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money-
Total assets
classes *<i
Num-
ber
of re-
turns
with
balance
sheets «<i
Cash «
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 5'
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities "
Accoxmts
and notes
payable '-
MANUFACTURING: IRON, STEEL, AND
1
1,163
771
1,123
777
649
573
87
65
7
18
3,682
6,995
22, 629
30, 959
43, 362
142, 244
66, 054
143, 527
50, 831
354, 627
7,843
14, 506
43, 526
59, 063
81, 043
217. 087
115, 184
209, 120
47, 436
441, 750
6,681
13, 341
47, 746
71, 776
104, 160
315, 452
147, 634
284, 639
59, 358
845, 839
491
1,834
7,423
16, 359
25, 107
113,753
71, 551
183, 825
100, 223
532, 768
9,434
18, 350
59, 366
89, 509
122,815
379, 179
173, 175
521, 590
98. 388
2, 107, 020
28, 766
56, 304
185, 057
274, 037
385, 551
1, 195, 246
583, 525
1, 359, 570
391,899
4,314,825
8,179
12, 433
31, 223
41,568
57. 384
142, 130
65, 903
162, 722
26, 636
698, 160
50
100.. :..
250
600
1,000
5,000
10,000-
50,000 .
100,000
Total...
5,133
864, 908
1, 236, 559
1, 896, 625
1, 053, 333
3, 578, 825
8, 774, 780
1, 246, 337
MANUFACTURING: IRON, STEEL, AND
1
664
113
79
31
16
16
3
1
639
318
462
371
332
2,048
3,117
1,525
1,938
1,267
1-, 865
1,788
1,333
6,605
1,833
4,501
2,264
1,727
2,625
2,026
2,158
5.304
3,853
10, 583
129
265
788
973
1,525
4,785
344
446
4,637
3,812
5,929
5,161
5,146
10, 268
10, 536
7,348
10, 098
7,980
12,243
10, 735
11,026
30, 712
22, 032
24, 502
4,500
2,756
3,377
3,130
2,148
7,991
5,250
3,882
50
100 ...
250
600.- . . .
1,000
5,000 ..
10,000.
60,000
100,000.
Total.. -
923
8,814
21,128
30,540
9,256
52, 838
129,328
33, 034
MANUFACTURING: NONFERROUS METALS AND THEIR
1 - -
747
342
361
180
118
120
18
20
4
3
2,085
3,150
6,853
6,216
7,546
27, 504
10, 375
34, 546
18, 440
15, 005
5,866
7,555
16,280
18, 135
20, 259
46, 973
21. 358
67, 555
23, 314
82^787
4,703
6,819
16, 467
18,21(r
25, 672
75,280
32, 655
100. 431
53, 956
97, 365
374
607
2,205
2,924
4,195
23, 587
13, 890
66. 643
52, 688
296, 506
4,131
5,879
14, 981
15,341
22, 533
68, 478
48. 314
141, 996
111,820
210,117
17,543
24, 647
58, 288
62, 574
82, 264
247, 835
128,952
417,091
270. 239
707, 304
5,686
6,635
12,835
12, 119
16, 247
32, 888
25, 103
50,005
16, 731
55, 434
50-
100 .
250-
600
1,000
6,000
10,000
60,000
100,000
Total...
1,913
131, 720
310, 084
431,559
463, 617
643, 591
2, 016, 736
233, 685
MANUFACTURING: NONFERROUS METALS AND THEIR
1
460
47
32
2
4
5
1
1
452
183
188
100
105
554
537
103
1,666
688
906
75
664
1,751
1,272
28
1,911
1,081
1, 540
126
676
395
1, 9.52
10. 363
213
181
372
220
134
654
2,386
1,146
1,720
318
842
6, 676
4, 692
6,290
6,944
3,417
4,902
842
2,572
10, 241
8,712
16, 881
3,330
1,408
1,764
206
770
376
1,887
753
60
100
260
600
1,000
6,000
10,000
6
60,000
100,000
Total...
652
2,221
7,050
18, 044
1,780
24, 069
54,511
10, 494
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
167
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thonsands of dollars]
Bonds and
mortgages
payable "
Capital
stock "
Surplus
and
undivided
profits "
(less
deficit)"
Gross
sales 16
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 66
PRODUCTS— RETURNS WITH NET INCOME
2,317
14,736
990
79, 624
80, 084
4,529
4,528
1,104
340
4,135
23, 330
11, 701
136, 847
137, 541
10, 614
10, 612
3,542
1,208
10, 384
71,511
52, 486
404, 173
406, 649
39, 259
39, 245
16, 140
5,645
13, 843
99,385
86, 659
552, 728
557, 138
63, 569
63, 538
29, 221
10, 420
17, 136
128, 377
132, 399
744, 903
750. 343
94, 410
94, 341
46, 382
15. 033
52, 187
384, 744
450, 5£3
1,913,345
1, 929, 485
290,404
290, 150
152, 037
50, 412
24, 394
152, 466
247, 036
904, 904
913, 260
163, 038
162, 973
95, 558
25,329
95, 340
448, 473
489, 015
1,840,345
1, 858, 299
270, 351
270, 153
154, 192
50, 852
21, 197
134, 607
113, 903
368, 263
373. 506
64, 190
64,188
37, 603
8,854
851,442
1, 447, 407
1, 022, 881
4,528,615
4, 572, 251
536, 972
536, 945
257, 874
106, 531
1, 092, 376
2, 905, 035
2, 607, 664
11,473,746
11, 578, 556
1, 537, 337
1, 536, 675
793, 654
274,624
PRODUCTS— RETURNS WITH NO NET INCOME
2,015
1,565
2,217
1,336
1,933
5,387
7,225
9,821
6,074
7,249
4,415
12, 009
7,057
1,310
12, 166
" 7, 236
" 3, 075
" 1, 125
1,057
" 5, 770
5,935
67 144
5,089
16, 140
9,369
14, 181
7,276
7,183
20, 921
12, 541
29, 714
16, 324
9,488
14, 341
7,542
7,382
21, 199
12. 577
29, 913
38 1, 455
38 657
38 703
38 807
38 618
38 1, 534
38 499
38 1, 250
38 1, 455
38 658
38 703
38 807
38 619
38 1,542
38 499
38 1, 250
17
11
71
10
588
39
487
21, 679
60, 101
67 5, 269
117, 325
118, 766
38 7, 522
38 7, 535
1,222
PRODUCTS— RETURNS WITH NET INCOME
1,370
8,229
626
55, 111
55, 368
2,389
2,389
572
142
1,877
9,625
4,377
70, 146
70, 598
4,285
4,284
1,379
501
3,386
23, 871
13, 393
136, 426
137, 259
9,801
9,797
3,760
1,408
4.057
22, 736
17, 987
144, 170
145, 543
12, 932
12, 928
5,693
2,185
3,951
26, 224
26, 333
179, 623
180, 542
18, 366
18, 361
9,038
2,800
8,467
86, 071
88, 576
471, 866
475, 352
52, 940
52, 879
26, 281
10, 475
4,214
49, 197
38, 670
219, 392
221, 031
20, 401
20,395
9,649
6,686
30, 269
136, 347
155, 769
680, 304
683, 157
87, 319
87, 247
51,637
13, 179
36, 804
105, 000
82, 517
323, 010
325, 028
41, 756
41,718
21, 775
11,150
78, 180
220, 238
299, 832
427, 536
451, 665
119,907
119, 897
55, 551
33, 459
172, 576
687, 537
728, 080
2, 707, 584
2, 745, 544
370, 096
369, 896
185, 336
81, 986
PRODUCTS— RETURNS WITH NO NET INCOME
1,341
678
701
690
45
1,450
6,580
14, 576
6,861
2,182
2,971
369
2,147
6.905
1
600
6' 4, 328
67 1, 172
"858
"428
"519
1,393
14, 636
4,874
10, 519
622
765
3,850
1,140
20,527
14, 741
4,895
10, 563
646
815
3,929
1,140
20,528
38 877
38 336
38 291
38 488
38 201
38 99
38 1, 175
(")
38 877
38 336
38 291
38 488
38 201
38 99
38 1, 175
0*)
11
4
2
24
851
26, 065
21, 036
6' 5, 060
56, 933
57, 256
38 3, 468
38 3, 468
40
168
STATISTICS OF INCOME FOR 1941, PAET 2
Table 6. — Corporation returns with balance sheets, 1941, hy total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes '"
Num-
ber
of re-
turns
with
balance
sheets <»
Cash <'
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities <'
Accounts
and notes
payable '2
MANUFACTURING: ELECTRICAL MACHINERY AND
1
302
LSI
242
139
130
153
34
24
1
3
710
1,533
4,202
5,167
9,203
38, 545
20, 149
46, 472
3,698
97, 329
1,934
3,550
10, 685
13, 142
21,417
75, 958
51, 027
83, 288
15, 480
225, 949
2,349
4,560
12,806
15, 628
32, 094
116,677
79, 297
123, 587
28, 711
385, 508
155
278
1. 410
2,265
3,990
22, 970
24, 834
66, 956
7,746
319, 876
1,716
2,719
9,239
12, 703
23, 023
76, 625
58, 858
124, 108
16, 803
203, 613
7,100
12. 900
39, 095
49, 938
91,810
337, 792
238, 840
449, 583
73, 835
1, 245, 416
2,451
3,492
9,882
11, 485
19, 876
67, 616
32, 193
40, 396
31, 272
116, 335
50
100
260
500
1,000
6,000
10,000
50,000
100,000
Total...
1,209
227,009
602, 330
801, 217
450,480
529, 306
2, 646, 307
324, 997
MANUFACTURING: ELECTRICAL MACHINERY AND
1
290
49
29
12
6
5
1
247
97
350
236
109
298
477
962
677
586
435
100
1,176
948
1,307
936
1,470
1,173
684
3,103
1,245
174
89
311
377
1,208
685
1,176
1,023
1,299
1,436
2,000
2,202
2,732
1,164
4,713
3,456
4,493
4,380
4,422
8,318
6,128
2,173
1,296
2,110
1,399
949
4,736
3,965
50
100
250
600
1,000
6,000
10,000
60,000
100,000.
Total.. -
392
1,814
4,883
9,819
3,921
12, 454
34, 910
16,618
MANUFACTURING: MACHINERY,
EXCEPT TRANSPORTATION
1.
1,067
640
989
608
436
543
116
85
9
5
3,363
5,160
18, 060
24, 188
34. 193
130, 257
91, 295
180, 473
60, 135
97, 788
6,790
11, 592
37, 803
60, 300
69, 835
244, 637
153, 058
322. 838
104, 875
213, 960
5,961
11,545
42,818
61. 966
93,953
342, HI
237, 041
498,177
168, 906
241,619
541
1,302
7,206
9,555
20, 179
96, 941
81.608
202, 590
91, 158
322, 083
9,358
15,913
50, 597
64, 758
84. 873
296. 910
205, 406
386, 644
176, 434
206, 170
26, 834
46, 745
160, 594
216, 089
309, 333
1, 135, 489
785, 309
1, 616. 197
595, 997
1,086,352
7,217
10, 102
30, 974
36, 515
47, 657
.152, 632
94, 374
171. 970
61, 288
96, 857
50
100
250.
600
1,000
6,000
10,000
60,000
100,000
Total...
4,498
644, 910
1, 215, 688
1, 694, 086
833, 164
1, 497, 064
5,978,939
699, 686
MANUFACTURING: MACHINERY,
EXCEPT TRANSPORTATION
1
689
147
121
43
18
15
805
624
1,074
490
889
1,672
2,366
1,666
3,011
3,044
2,656
3,979
2,775
2,485
4,641
3,189
2,879
7,299
192
396
766
832
695
2,984
5, 531
4,755
8, 902
0,218
5,436
12, 561
12, 201
10, 545
19, 218
14, 965
12,601
29, 164
6,852
4,429
5,516
3,630
2,123
4,670
60
100
250...
500
1,000
6,000
10,000
60,000
100,000
"'
Total...
1,033
5,455
16, 620
23, 169
5,764
43, 404
98, 682
27,120
For footnotes, see pp. 234-236,
STATISTICS OF INCOME FOR 1941, PART 2
169
hy major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figares in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock "
Surplus
and
undivided
profits "
(less
defieit)<9
Gross
sales 1'
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 66
EQUIPMENT— RETURNS WITH'NET INCOME
^6
3,127
70
18, 695
18, 822
1,120
1,120
263
108
1,002
4, 752
2,345
32, 982
33, 194
2,203
2,202
708
142
2,571
12, 839
9,462
93, 158
93, 952
7,508
7,607
2,912
906
2,839
13.974
15, 163
114,683
115,451
10, 779
10, 775
4,953
1,388
4,776
28,170
25,879
184, 372
185. 997
21, 878
21, 868
10. 549
2,593
11,056
80,674
134, 657
633, 926
639, 385
- 93,736
93,677
60, 377
15,241
5,817
64.916
105, 362
370, 022
374, 491
66, 743
66, 706
37. 088
11, 394
28,734
134, 598
193, 034
706, 927
714, 982
112,857
112,625
63, 166
31, 032
100
42, 463
92, 940
93, 641
12,494
12, 494
7,721
20,095
483, 115
321, 185
1, 399, 755
1, 418, 455
331, 076
330, 746
186, 293
82, 809
77, 716
816, 266
849, 619
3, 647, 461
3, 688, 371
660, 394
659, 719
364, 030
145, 613
EQUIPME
NfT— RETURNS WITH NO NET INCOME
1,487
608
350
404
711
214
3,299
2,050
2,423
2.099
2,371
2,962
1,500
"2,806
"646
"635
34
288
260
"367
6,211
4,301
4,645
5,436
2,854
7,065
827
6,273
4,355
4,666
5,494
3,016
7,154
878
39 699
38 455
38 464
38 276
38 280
38 964
38 295
38 699
38 456
88 464
38 275
38 280
38 964
38 295
1
3
7
9
_
.
3,774
16,704
" 3, 862
31,238
31, 836
38 3, 432
38 3, 432
20
EQUIPMENT AND ELECTRICAL— RETURNS WITH NET INCOME
2,290
15,713
" 1, 338
60, 942
61, 494
4,664
4,562
1,177
438
2,757
22, 110
7,208
89, 661
90, 699
8,561
8,660
2,822
1,085
9,086
63,960
39, 282
292, 418
296, 303
34, 046
34, 021
14, 576
4,295
12, 867
75, 691
66, 204
366, 390
370, 491
49, 000
48, 972
23, 269
6,287
14,611
99, 544
104, 173
511,301
516, 276
77, 627
77, 544
39, 048
11, 258
34, 782
333, 426
440, 254
1,601,827
1, 622, 852
289, 958
289, 590
156, 237
44, 980
28, 970
237, 001
284,076
936, 176
947, 872
196, 393
195, 107
106, 884
35, 089
54, 383
479, 853
622, 778
1, 859, 869
1, 883, 975
410, 637
410, 500
236, 499
71, 927
52, 990
185, 319
224,253
643, 359
650, 120
142, 976
142, 881
79, 387
33, 452
24,260
533, 746
386,659
684, 635
723, 439
107, 990
107, 428
38, 639
46, 492
236,986
2, 046, 363
2, 173, 550
7, 046, 679
7, 162, 521
1, 320, 752
1, 319, 165
697, 537
266, 304
EQUIPMENT AND ELECTRICAL— RETURNS WITH NO NET INCOME
1,840
1,976
2,316
1,122
1,882
6,834
12, 043
7,888
12, 248
12,243
4,776
15, 334
" 9, 962
" 4, 795
" 2, 178
" 3, 004
3,263
600
17, 637
8,756
13, 999
12, 404
8,708
17, 859
17, 880
8,#929
14,552
12, 689
9,008
18,327
38 1, 786
38 974
38 1, 090
38 658
38 289
38 1, 247
38 1, 785
38 974
38 1, 090
38 658
38 292
38 1, 247
4
5
34
26
4
245
_
15,970
64,632
" 16, 076
79, 362
81, 395
38 6, 042
38 6, 047
318
170
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes '"
Num-
ber
of re-
turns
with
balance
sheets "
Cash*'
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets *'
(less re-
serves)
Total
assets-
total lia-
bihties *'
Accounts
and notes
payable ''
MANUFACTURING: AUTOMOBILES AND EQUIPMENT,
1
142
68
89
65
50
70
16
22
7
3
395
433
1,140
2,015
2,943
17, 949
10, 400
62, 842
93, 274
382, 196
886
1,246
3,440
5,965
7,880
36, 712
28, 248
91, 703
58, 656
245, 065
1,017
1,635
4,948
8,397
11, 775
52, 521
33, 696
146, 638
119, 202
516, 841
65
83
333
627
924
7, 249
7,520
63, 269
88, 378
724, 914
965
1,207
4,566
5,642
10, 523
47, 884
23, 571
155, 004
97, 809
841, 676
3,439
4,764
14, 868
23, 098
35, 058
166, 431
105, 133
529, 305
482, 746
2, 740, 247
1,292
1,479
4,194
6,132
7,653
29, 028
27, 647
73, 691
61, 052
187, 621
50
100
250..-
600
1,000
5,000
.10,000
50,000
100,000..
Total...
532
673, 686
479, 800
896, 671
893, 364
1, 188, 848
4, 105, 088
399, 687
MANUFACTUEING: AUTOMOBILES AND EQUIPMENT,
1
107
27
U
11
6
3
1
1
140
36
49
216
927
73
305
378
389
241
288
660
816
342
1,616
387
405
401
390
1,462
763
3,347
2,692
5,133
47
132
70
5
60
706
826
906
1,285
1,337
2.933
1,269
3,143
1,810
1,833
1,750
3,723
3,966
6,708
6,601
10, 795
769
1,565
686
1,771
767
6,007
692
2,048
60
100
250 -
500
1,000. '.
5,000
652
1,708
10,000
50,000 - . .
100,000
Total-. -
167
2,123
4,739
14, 693
2,666
12,404
37, 186
14, 204
MANUFACTURING: TRANSPORTATION EQUIPMENT,
EXCEPT
1..
50
112
55
91
67
43
93
30
36
11
8
314
576
1,288
1,941
2,211
25, 174
29, 668
89, 948
104, 668
210, 093
688
1,083
4,362
6,885
10, 363
63,812
73, 143
237, 225
124, 826
242, 396
453
635
3,436
5,592
7, 2S6
64, 063
43, 720
155, 468
354, 805
409, 924
35
146
356
632
1,457
8,517
17, 368
54, 825
77, 113
111,215
1,161
1,429
4,948
7,644
8, 501
56, 206
37, 856
184, 714
164, 455
283, 971
2,748
3,941
14, 873
23, 490
30, 360
224, 686
210, 970
750, 898
850, 599
1, 310, 423
727
729
4,239
6,765
8,114
61, 061
61, 232
192, 126
109, 374
131, 646
100
250
600 -.1
1,000
5,000
10,000
60,000
100,000..
Total...
646
466, 780
764, 772
1,045,393
271, 662
750, 883
3, 422, 989
575, 914
MANUFACTURING: TRANSPORTATION EQUIPMENT
EXCEPT
1
130
42
28
18
10
11
186
203
150
484
199
2,661
351
387
519
1,328
598
6,351
491
570
• 1,452
1,519
1,247
2,877
57
40
159
451
379
553
1,293
1, 585
2, 009
1,989
3,505
8,864
2,447
2,922
4,485
6,130
6,331
22, 319
1,062
1,041
1,597
2,690
1,290
5,388
50
100
250
500
1,000
5 000
10,000..
2
2,209
478
5, 993
168
2,368
23, 361
1,250
50,000
100,000 - .
Total...
241
6,992
10, 013
14, 151
1,807
21, 673
67, 984
14, 319
For footnotes, see pp. 234- 236.
STATISTICS OF INCOME FOR 1941, PART 2
171
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock '*
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales 19
and gross
receipts
from
opera-
tions >7
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 58
Divi-
dends
paid 9
EXCEPT ELECTRICAL— KETURNS WITH NET INCOME
358
1,645
6' 186
10, 884
10, 946
389
389
80
19
504
1,877
522
12, 595
12, 719
626
626
157
53
1,300
5,393
2,619
38, 703
39, 036
2,112
2,112
717
192
1,329
7,188
6,169
55, 293
55, 638
4,033
4,033
1,605
670
2,192
11, 165
10, 409
80, 003
80,631
7,103
7,100
3,163
1, 118
7,536
40, 405
67, 570
360, 448
363, 342
41, 828
41, 813
19, 550
6,221
6,615
19,911
35, 265
180, 765
182, 571
25, 853
25, 830
14, 614
4,609
43, 289
120, 191
215, 200
814, 989
821, 991
100, 596
100, 502
52, 521
15, 353
5,958
106, 151
223, 030
890, 942
899, 901
119, 431
119, 371
70, 742
21, 352
661, 557
1, 773, 999
3, 943, 834
4, 014, 388
549, 392
549, 235
267, 766
204, 799
69, 081
975, 482
2, 334, 596
6, 388, 455
6, 481, 163
851, 363
851, Oil
430, 914
254, 385
EXCEPT ELECTRICAL— RETURNS WITH NO NET INCOME
408
1,428
68
500
180
•1,781
1,008
843
1,900
1,752
1,055
465
9,390
5' 1, 323
57 2, 631
11
57 654
1,179
67 405
5,139
67 1, 159
2,846
1,674
2,252
5,931
4,337
8,660
8,311
8,838
2,885
1,692
2,289
5,982
4,703
8,681
8.510
8,938
38 197
38 227
38 114
38 280
38 308
38 106
38 1, 984
38 196
38 197
38 227
38 114
38 280
38 308
38 106
38 1, 984
38 196
(U)
7
97
2,683
18, 193
158
42, 849
43, 681
38 3, 413
38 3, 413
7
AUTOMOBILES— RETURNS WITH NET INCOME
312
1,307
196
5,955
6,049
370
370
80
17
393
2,144
269
8,844
9,107
936
935
367
441
1,050
5,810
2,063
23, 557
23,740
2,339
2,337
822
284
1,846
7,111
4,402
42, 004
42, 412
4,604
4,603
2,234
561
1, 541
6,055
8,106
48, 529
48, 930
8,125
8.125
4,338
1,313
16, 712
47, 238
53, 808
353, 372
355, 679
51, 166
51, 143
28, 803
5,810
11, 413
38, 770
50, 107
307, 228
309, 684
46, 389
46, 366
27, 068
6,480
76, 045
139, 915
163, 629
905, 638
912, 753
107, 916
107, 842
57, 637
14, 857
30, 303
113, 680
225, 367
712, 649
722, 020
145, 789
145, 756
73, 799
25, 186
84, 637
98, 255
412, 814
1, 409, 029
1, 428, 599
355, 976
355, 948
228, 359
39, 226
224, 252
460, 284
920, 760
3, 816, 805
3, 858, 971
723, 609
723, 426
423, 507
94, 177
AUTOMOBILES— RETURNS WITH NO NET INCOME
595
410
1,059
656
2,855
3,395
2,246
2, 584
2,113
1,912
2,543
5,965
67 1, 789
57 1, 222
67 1, 031
57 162
57 909
2,535
2,730
1,977
4,243
5,562
4,755
11, 454
2,775
2,013
4,344
5,680
4,780
11, 575
38 360
38 249
38 709
38 994
38 815
38 1, 507
iiiiii
39
2
367
1
4,823
4,860
38 961
38 961
8, 972
17, 730
57 2, 576
35, 544
36, 028
38 5, 594
38 5, 594
39
172
STATISTICS OF INCOME FOR 1941, PABT 2
Table C. — -Corporation returns with balance sheets, 194i, by total assets classes, and
come: ' Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes 'i"
Num-
ber
of re-
turns
with
balance
sheets *"
Cash«
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets *3
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable ^'
OTHER MANUFACTURING—
1
1,224
405
443
230
137
107
22
12
1
1
3,243
2,971
6,204
7,166
9,037
20, 693
11, 162
24, 461
11,472
27, 654
8,199
8,044
17, 624
18, 981
20, 052
42, 275
35, 824
62, 618
19, 152
16, 976
7,650
9,191
23,322
26, 899
31,701
65, 173
48, 166
78, 320
28, 004
32, 407
601
793
3,021
4,332
6,232
32, 252
16, 513
30, 502
2,083
71, 202
6,252
6,990
18, 054
19,811
23,242
53. 900
31,853
47, 542
3,739
64,691
26, 584
SS, 737
70, 208
79, 595
92, 702
220, 750
146, 252
237, 399
65, 650
213, 605
8,360
7,679
17, 546
15, 725
14, 128
24,205
15, 764
41. 598
4,739
12, 005
60
100
250 .-
500
1,000
6,000
10,000
60,000 -
100,000
Total...
2,682
123, 963
239, 646
350, 734
167, 632
276, 073
1, 181, 383
161, 746
OTHER MANUFACTURING—
1
1,064
135
71
18
6
6
1
910
489
471
167
68
632
112
3,725
2,117
2,329
1,012
619
1,717
691
3,960
2,498
2,288
1,437
1,033
1,997
2,802
388
350
428
628
44
2,772
6, 633
3,611
4,443
3,074
1,990
4,381
1,729
15.469
9,517
10, 748
6,436
3,762
11,618
5,251
6,880
3,246
3,393
1,158
852
1,415
121
60
100
260
500
1,000
5,000
10,000
60,000
100,000
Total—
1,301
2,750
12,010
16, 016
4,611
24, 662
62, 801
17,064
MANUFACTURING NOT ALLOCABLE—
1
602
278
326
139
91
99
5
2
1
1,465
1,849
4,766
4,478
5,260
18, 935
3,098
3,358
1,886
3,777
6,265
13, 601
11, 744
12, 780
36, 396
4,196
3,086
2,297
3,815
6,167
15, 282
15, 627
19, 941
57, 172
6,317
8,680
8,667
277
670
1,831
2,785
3,575
18, 579
6,149
7,964
23, 255
3,811
6,035
15,031
14,448
19, 578
63, 371
8,305
4,700
15, 753
13, 644
20, 490
51, 962
50, 556
62, 910
199, 730
28,378
28, 408
52, 664
4,334
6,091
11, 744
10, 468
11. 264
26, 714
2,249
6,918
4,890
60
100
250
500
1,000
6,000
10,000
60,000_.
100,000
Total --
1,543
45,075
93, 142
141, 667
65, 086
151, 032
608, 642
82,671
MANUFACTURING NOT ALLOCABLE—
1
584
76
57
20
8
6
494
139
198
219
72
550
1,609
806
1,237
1,158
500
2,356
1,994
952
2,038
1109
1,219
2,862
156
127
348
630
63
1,296
3,788
2,680
4,319
3,600
3,395
2,304
8.669
6,118
8,846
6,989
5,368
9,579
4,250
1,556
2,551
1,896
2,038
1,771
60
100
2,50
500
1,000
6 000
10 000
60 000
100,000
Total. --
751
1,672
7,670
10, 164
2,610
20, 086
44, 569
14,063
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
173
by major industrial grovps,^ for returns with net income,and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable ^3
Capital
stock "
Surplus
and
undivided
profits "
(less
deficit)"
Gross
sales "
and gross
receipts
from
opera-
tions 1'
Total
compiled
receipts ^
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax "
RETUKNS WITH NET INCOME
2,167
12, 722
1,185
76, 359
76, 950
3,340
3,339
727
308
2,028
11,806
5,163
70, 617
71, 158
3,839
3,837
1,109
435
5,124
28,074
14, 279
140, 999
142, 116
9,301
9.298
3,097
1,592
3,836
29, 025
23, 582
149, 963
150, 991
13, 614
13, 604
5,787
2,392
5,159
30, 585
31,320
164, 395
166, 049
18, 274
18, 266
8,531
3,584
6,705
78, 794
88, 032
290, 871
294, 875
43, 169
43, 124
20, 216
9,052
8,182
41, 717
64, 646
167, 418
170, 386
30, 562
30, 548
15, 612
6,270
15, 248
73, 604
81, 165
250, 120
255, 218
43, 539
43, 533
19, 504
10, 053
40
106, 206
14, 449
68, 845
72, 587
127,801
73, 311
133, 727
25, 031
21,036
25, 029
21,017
16, 282
8,243
5.200
17, 702
48,449
411,874
392,667
1,511,130
1,534,780
211, 703
211,595
99, 108
56, 589
RETURNS WITH NO NET INCOME
2,764
1,309
2,614
887
1,436
500
4,278
12,078
6,150
6,954
3,098
1,204
3,999
673
"7,805
"1,799
" 3, 192
868
"827
5,553
"275
30, 795
12, 431
11,810
4,960
2,190
5,637
2,686
31,003
12, 538
12, 185
5,085
2,247
5,986
2,733
'8 2, 076
38 1,053
38 745
38 414
38 513
38 724
88 456
38 2, 076
38 1,053
38 745
38 414
38 513
38 725
38 456
5
69
5
9
6
9
13, 787
34, 167
"7,476
70,508
71, 778
38 5,982
38 5, 983
103
RETURNS WITH NET INCOME
1,108
7,311
"243
38, 961
39, 222
1,742
1,739
389
161
1,987
9,469
2,574
48, 723
49,064
2,809
2,808
820
291
4,225
22,611
8,986
114,019
114, 963
7,874
7,855
2,968
1,012
2,542
18,429
14, 927
99, 431
100, 380
8,446
8,445
3,542
1,110
2,101
25,683
15, 955
109, 632
110, 876
11, 622
11,617
5,634
1,832
13, 384
72, 253
64, 695
301,036
304, 697
35,454
35,415
16,766
6,704
1,505
13, 812
8,333
38,066
38, 513
7,402
7,402
4,225
1,705
109
9,400
8,374
31, 795
34, 082
9,012
9,011
4,020
3,132
15, 138
12, 219
19,874
25, 910
26, 377
4,454
4,454
1,719
1,024
42.098
191, 187
143, 475
807, 571
818, 175
88,815
88, 746
40,082
16,971
RETURNS WITH NO NET INCOME
1,372
1,070
1,611
778
462
700
7,625
3, 927
6,311
4,249
2,887
4,549
" 5, 540
"1,860
" 1, 168
"219
"600
2,367
12, 609
4,484
9,417
4.677
5,513
8.866
12, 617
4,628
9,573
4,964
5,559
9,151
38 1, 165
38 548
88 418
38 406
38 418
88 1, 341
88 1, 165
38 548
38 418
38 406
38 418
88 1, 349
29
1
(")
^ ' 9
2
85
6,993
28 547 1 " 7 f**^*!
46, 367
46, 392
38 4, 296
88 4, 304
126
589783— 44r-
-12
174
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes ">
Num-
ber
of re-
turns
with
balance
sheets "
Cash < I
Notes and
accounts
receivable
Oess re-
serve)
Inven-
tories
Invest-
ments 61
Capital
assets *^
(less re-
serves)
Total
assets —
total lia-
bilities <5 ^
Accoimts
and notes
payable «2
TOTAL PUBLIC UTILITIES—
1
6,447
1,722
1,729
922
628
762
185
257
88
93
13, 673
12, 730
27, 434
32, 145
39, 890
117,822
68, 961
298, 957
215,978
934, 632
20, 876
21, 817
44, 200
48, 308
52, 022
134, 422
65, 425
255, 895
175, 226
626, 781
2,085
2 640
6; 077
6,855
10, 626
44, 311
26, 471
108, 721
100, 067
603, 767
3,594
5,644
14, 250
21, 872
24, 230
60, 317
74, 451
170, 926
202, 935
303. 527
105, 638
122, 583
273, 747
324, 803
446, 481
1, 659, 067
1, 323, 806
5, 839, 339
6, 147, 737
36, 256, 788
28,248
26, 226
46, 500
62, 218
59, 487
172, 181
80, 840
237, 280
166, 661
669, 978
50
100
250
500
1,000
105, 728 1. 198. 089
6,000
82, 880
342, 333
334, 261
4, 692, 649
1, 039, 636
4, 610. 870
5, 113, 221
27, 570, 783
10,000
60,000
100,000 ..-
Total.. -
11, 823
1, 762, 221
1,444,971
911, 620
6, 627, 341
40, 344, 755
51, 499, 990
1, 638, 616
TOTAL PUBLIC UTILITIES-
1
4,876
683
458
193
165
192
47
52
11
16
5,776
2,509
6,042
4,263
7,750
16, 642
9,898
38, 208
35, 636
136, 381
11, 562
6,404
9,985
7,855
7,630
17, 993
14, 624
44, 338
17, 620
44, 892
1,278
717
1,377
948
1,594
6,925
4,736
16, 056
13, 508
65, 667
2,339
2,084
3,060
3,766
3,958
22, 403
11, 207
86, 000
14, 199
404, 130
39, 889
26, 772
49. 147
48, 724
86, 049
340, 992
271, 750
920, 470
664,012
3, 173, 728
64, 569
40, 743
71,714
67, 477
111,696
418, 263
319, 092
1, 146, 095
788, 249
3, 944, 373
28, 940
13, 966
17, 800
16, 674
26, 617
56, 896
80, 915
82, 639
51, 974
143, 815
50
100
250
500 .
1,000
6,000
10,000
50,000
100,000
Total—
6,582
262, 096
182, 893
101, 706
562, 145
5, 621, 532
6, 972, 162
620, 236
PUBLIC UTILITIES: TRANSPORTATION—
1
3,937
1,221
1,188
609
393
384
79
84
26
36
10. 987
9,845
21, 524
23, 931
31,259
85,614
42, 469
172, 037
94, 832
603, 686
17, 723
18, 368
36, 552
40. 776
41, 554
96. 669
34, 823
125, 647
59, 532
281, 696
1,428
1,936
4,410
4,757
6,400
24, 108
10,414
29,411
35, 667
385, 932
2,651
4,058
10,915
15, 726
17, 402
81, 227
67, 369
157, 839
174, 962
3, 223, 449
39, 846
48, 883
104. 893
118.604
169. 634
513, 806
390, 097
1, 244, 056
1, 306, 749
16,817,907
76, 643
87, 132
186, 861
213, 098
278, 902
838, 188
653, 058
1, 815, 875
1, 747, 104
21, 832, 919
24, 446
21, 666
37, 762
43, 481
48, 195
112,889
53, 007
104, 563
65, 119
437, 171
60
100 .
250
500
1,000
5,000
10.000
50.000
100,000
Total...
7,967
1, 095, 982
753, 341
604, 461
3, 745, 596
20, 754, 475
27, 629, 679
948, 287
PUBLIC UTILITIES: TRANSPORTATION-
1
50...
3,652
411
298
119
102
115
25
34
9
16
4,496
J, 796
3,638
3,215
6, 639
11,910
6,549
29, 176
33, 688
136, 381
9,605
5,369
8,146
6.817
6,303
10, 696
4,745
24, 492
15, 726
44, 892
819
540
1,044
499
1,075
3,674
2,096
10, 298
10, 933
66, 667
1,835
1,622
2,047
2,521
2,755
16, 276
3,862
61,412
14, 179
404,130
26, 438
17, 704
29, 255
26, 389
66, 289
211, 129
157, 742
652, 266
556, 554
3, 173, 728
45, 959
28,693*
46, 224
40, 889
74, 014
262, 747
178,992
786, 956
670, 298
3, 944, 373
23,654
10, 309
14, 033
11,629
19, 317
34, 438
36, 035
63, 246
49, 803
14.3,815
100
2.')0 .
600
1,000
5,000
10,000
50,000
100,000
Total...
4,681
237, 489
136, 789
86, 545
500, 639
4, 905, 486
6, 079, 142
406, 179
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
175
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thonsands of dollars]
Bonds and
mortgages
payable ''
Capital
stock "
Surplus
and
undivided
profits °5
(less
deficit)*'
Gross
sales "
and gross
receipts
from
opera-
tions 1'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
EETURNS WITH NET INCOME
11, 290
51, 635
6,552
225, 401
232, 224
14, 103
14, 086
3,137
3,549
15, 524
49, 249
. 22, 688
194, 522
199, 509
14, 732
14, 718
4,011
3,276
44,590
106, 414
54, 906
356, 227
363, 670
33, 681
33, 661
10, 484
9,359
54,915
124, 410
66, 035
356, 751
362, 788
42. 652
42, 574
15, 505
13,287
92, 994
174, 670
88,916
367, 778
375, 793
49, 092
48, 978
18. 407
17, 925
409, 577
654, 904
300, 783
872, 326
896, 070
143,415
143, 273
52, 753
58, 225
395, 621
549,637
208, 759
453, 930
465,049
92, 743
92, 712
36, 146
44,395
1, 947, 603
2, 376, 661
931, 291
1,910,412
1, 956, 213
377, 717
377, 213
136, 446
219, 101
2, 573, 515
2,354,004
739. 938
1,412,490
1, 454, 699
298, 567
298, 492
99, 963
160, 399
14,339,480
13,125,898
4,852,384
7,353,396
7, 744, 267
987, 280
986, 730
318, 117
528,968
19,885,109
19,567,482
7, 272, 252
13, 503, 233
14, 050, 282
2, 053, 980
2, 052, 437
694, 970
1,058,484
RETURNS WITH NO NET INCOME
15, 945
12, 261
26, 143
26, 040
58, 687
207, 059
131, 787
662,829
441, 703
2, 241, 260
48, 272
24,696
35,800
32. ."ies
50. 515
169, 635
117, 750
426, 212
241,559
1,211,647
5? 35, 357
57 13, 909
57 14, 676
57 14. 130
57 37, 779
87 53, 448
57 57,889.
57 204, 018
57 211,414
57 446, 254
125,622
44, 423
59, 034
43. 765
37, 530
105, 406
71,998
205, 506
261, 498
685, 641
128,819
45, 495
61, 065
44,442
39, 130
109, 282
74, 748
215, 507
264, 930
705, 505
38 8, 629
38 3, 731
38 5, 670
38 3, 489
38 9, 523
38 14, 954
38 9,192
38 33, 325
38 19, 180
38 28, 248.
38 8,632
38 3, 732
38 5, 682
38 3, 491
38 9, 526
38 14, 996
38 9, 218
38 33, 335
38 19, 198
38 28, 281
260
49
130
106
785
2,682
.368
3,378
88
1,244
3,823,714
2, 358, 651
67 1,088,874
1, 640, 423
1, 688, 924
38 135,941
38 136,090
9,090
RETURNS WITH NET INCOME
9,175
35, 033
1,366
205,324
210, 859
11,762
11, 748
2,632
2,498
11,226
32, 459
15,168
171.105
175, 219
11,373
11, 363
3,150
2,188
31,145
66, 174
36, 134
311.419
317, 554
25, 705
25, 692
8,146
6,288
32,253
76, 622
40, 788
305. 304
310, 602
31,635
31,569
11,913
8,501
46, 874
108, 948
53, 314
302, 355
309, 309
37, 567
37, 516
14, 675
12,811
147, 413
319, 052
179,619
623, 549
643, 165
100, 614
100, 532
38, 685
36, 096
121,019
235, 070
93, 919
263,610
271, 185
56, 777
56, 759
24,496
22.440
395, 035
688. 963
467, 123
852. 992
874, 958
171,340
171,087
64, 566
96. 601
605,815
627. 663
316, 413
479, 095
501,994
97, 029
96, 993
31,019
51, 160
9, 534, 917
6, 380. 302
3, 739, 261
4, 421, 999
4, 699, 772
347, 868
347, 579
101, 454
96. 261
10, 934, 872
8, 570, 285
4,943,105
7, 936, 753
8,314,618
891, 671
890, 838
300, 736
334, 844
RETURNS WITH NO NET INCOME
12, 933
8,299
18,420
14, 767
41,534
126, 963
74, 915
420, 357
376, 324
2, 241, 260
33,154
15, 987
23,539
19,684
34, 559
121, 681
55. 956
302. 879
197, 769
1,211,647
57 28, 922
57 8, 871
57 13, 599
57 9, 932
57 33,212
57 48, 482
57 25, 906
57 162, 659
57 216, 838
57 446, 254
115,390
40, 101
51, 541
38, 964
29, 748
71, 832
37, 355
154, 439
244, 573
685, 641
117,873
41, 058
53, 327
39, 485
31, 147
74, 853
39, 131
162, 482
247, 768
705, 505
38 7, 134
38 2, 650
38 4, 136
38 2, 865
38 8, 555
38 12, 127
38 4, 742
38 21, 109
38 17, 591
38 28, 248
38 7, 137
38 2, 650
38 4, 146
> 38 2,866
38 8, 556
38 12, 167
38 4,745
38 21, 119
38 17,607
38 28, 281
121
35
72
53
119
1,319
1,784
1,244
3, 335, 772
2, 016, 855
57 994, 675
1, 469; 584
1, 512, 629
38 109, 156
38 109, 275
4,747
176
STATISTICS OF INdOME FOR 1941, PART 2
Table 6. — Corporation returns ivith balance sheets, 194.1, by total assets classes, and
come: ' Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net inco7ne, the total tax — Continued
[Total assets classes and money
Total assets
classes 'o
Num-
ber
of re-
turns
with
balance
sheets <"
Cash"
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable "
PUBLIC UTILITIES: COMMUNICATION—
1.
867
227
223
109
55
78
12
17
7
13
1,607
1,616
3,091
4,941
2,418
9,603
3,570
21, 676
3,501
37, 132
1,877
1,899
3,223
2,956
3,437
5,621
2,633
20, 607
19, 413'
137, 206
394
389
713
889
1,094
6,444
3,005
7,782
7,664
58, 843
535
769
1,486
3,195
2,920
7,618
3,048
15, 225
1,594
266, 874
10, 752
10, 672
24, 922
24, 325
29, 281
126, 159
68, 347
251, 529
430, 309
3, 111, 156
15, 849
15,806
34, 533
37, 807
40, 210
159, 972
85, 206
324, 430
465, 035
3, 643, 308
1,594
1,897
3,951
2,120
2,093
7,364
1,198
16, 297
15, 058
90,932
60 -
100.
250.
600.
1,000
5,000
10,000
50,000
100,000
Total...
1,608
89, 054
198, 874
87, 218
303, 264
4,087,453
4, 822, 156
142, 606
PUBLIC UTILITIES: COMMUNICATION—
1
810
68
35
9
8
7
2
3
738
359
713
66
130
863
352
2,258
1,164
393
509
189
728
471
685
3,577
330
58
55
57
74
309
398
1,909
235
38
265
385
104
888
1,209
2,529
7,095
2,918
3,775
2,587
4,489
10, 519
8,192
71, 293
10, 126
4,008
5,609
3,314
5,758
13, 187
10, 901
82, 803
2,107
920
1,044
469
997
530
406
4,265
60
100
250
600
1,000
6,000 . ..
10,000
60,000
100,000 .
Total...
932
5,479
7,715
3,190
5,653
110,868
135, 706
10, 738
OTHER PUBLIC UTILITIES—
1.
60
643
274
318
204
180
290
94
156
55
44
1,080
1,369
2,820
3,273
6,214
22, 706
22, 922
105, 244
117,644
293. 914
1,275
1,550
4,424
4,576
7,032
32, 132
27, 969
109. 640
96, 279
207, 879
263
315
954
1,209
3,132
13, 759
13, 052
71, 528
56, 737
158, 992
408
817
1,849
2,952
3,908
16, 883
22, 463
169, 269
157, 705
1, 202, 227
9,719
14, 896
41,111
60, 005
104, 612
558, 124
681, 191
3,115,285
3, 376, 164
7,641,721
13,247
19,645
52, 353
73, 898
127, 369
660, 906
685, 542
3,699,034
3, 935, 599
9, 780, 561
2,208
2,662
4,796
. 6,617
9,200
51, 928
26, 635
116, 420
85, 483
141,874
100
250 . - - -
600
1,000
6,000
10,000
60,000
100,000...
Total...
2,258
577, 186
492, 755
319, 941
1,578,481
15,502,827
19,048,154
447, 824
OTHER PUBLIC UTILITIES—
1
613
114
125
65
45
70
20
15
2
642
353
691
972
981
3,868
2,997
6,773
1,948
783
642
1,330
849
1,599
6,826
9,195
16, 269
1,894
130
119
278
393
444
2,942
2,241
2,849
2,674
270
423
748
860
1,099
6,238
6,136
31,059
20
6,356
6,150
16, 117
19,748
26, 270
119,344
105,815
196, 921
108,468
8,474
8,043
19,882
23,274
31,824
142, 329
129,200
276, 337
117, 961
3,279
2,737
2,723
4,576
6,303
21, 928
44,475
15,128
2,171
60
100
250
600
1,000
6,000
10,000
60,000
100,000
Total...
969
19, 127
39,388
11,971
45,852
605, 179
757,314
103, 319
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
177
hy major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
flgares in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock "
Surplus
and
undivided
profits "
(less
deficit)"
Gross
sales 18
and gross
receipts
from
opera-
tions 1'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax»9
EETURNS WITH NET INCOME
986
8,795
3,712
12,424
13,312
1,460
1,457
317
422
931
7,284
4,740
13, 071
13, 557
2,103
2,100
562
562
3,627
15, 338
8,889
26, 209
26,823
5,087
5,084
1,640
1,829
4,834
16, 384
11,136
27, 959
28,175
6,750
6,742
2,449
2,588
8,973
17, 755
8,527
26, 891
27,285
5,281
5,275
1,876
2,164
59, 091
63, 552
21, 009
52, 377
53, 480
11,846
11,837
4,482
5,206
21, 394
65, 979
" 8, 144
21, 073
21, 942
4,025
4,020
1,414
3,114
77, 744
159, 771
50, 098
161, 278
164, 519
33, 533
33, 530
13,207
17, 022
140, 158
262, 250
25, 045
138, 573
140, 730
27, 299
27, 297
10, 320
17,684
856, 024
2, 314, 806
214, 219
1, 141, 982
1, 176, 634
220, 670
220, 636
78, 878
150, 688
1, 173, 763
2, 931, 913
339, 230
1, 621, 835
1, 666, 458
318, 053
317, 978
115,146
201, 279
EETURNS WITH NO NET INCOME
810
763
1,082
2,190
1,626
6,582
3,658
104, 304
7,835
2,156
3,099
1,393
4,149
3,251
1,871
17, 439
" 1, 245
5
"119
"957
♦7 1, 121
2,524
4,750
" 44, 004
6,746
1,694
3,274
832
1,467
2,993
3,175
8,780
7,250
1,745
3,414
864
1,545
3,011
3,264
8,797
38 607
38 252
38 302
38 179
38 217
38 286
38 746
38 1, 603
38 607
38 252
33 302
38 179
38 217
38 286
38 746
38 1, 603
29
1
6
95
173
103
121,015
41, 193
" 40, 168
28,961
29,890
38 4,191
38 4, 191
406
EETURNS WITH NET INCOME
1,130
7,807
1,474
7,653
8,053
881
880
189
630
3,368
9,505
2,780
10, 346
10, 732
1,256
1,255
298.
527
9,818
24,902
9,883
18, 599
19, 293
2,888
2,885
698
1,243
17, 828
31,404
14,111
23, 487
24,011
4,267
4,262
1,143
2,197
37, 147
47,966
27, 075
38,532
39, 200
6,244
6,187
1,856
2,950
203, 073
272, 300
100, 155
196, 401
199,424
30, 955
30, 904
9,586
16, 922
253, 207
248, 589
122,985
169, 247
171,922
31,941
31, 933
10, 235
18, 841
1,474,823
1,527,928
414, 070
896, 142
916, 736
172, 844
172, 595
58, 673
105, 479
1,827,541
1,464,091
398, 480
794, 823
811,974
174, 240
174, 202
58, 624
91,555
3,948,539
4,430,790
898, 904
1,789,415
1, 867, 861
418, 741
418, 515
137, 785
282,018
7,776,475
8,065,283
1,989,917
3, 944, 645
4,069,206
844,257
843, 620
279,087
622,361
EETURNS WITH NO NET INCOME
2,202
3,199
6,641
9,084
15; 527
73, 514
53, 213
138, 169
65, 379
7,283
6,553
9, 161
11,488
11,807
44, 703
59,922
105, 895
43,790
" 6, 190
"5,043
"957
" 3, 241
" 3, 447
" 7, 490
" 36, 733
2,645
5,424
3,486
2,628
4,219
3,969
6,315
30, 581
31,469
42,287
16, 924
3,696
2,692
4,324
4,093
6, 438
31,418
32, 353
44,229
17, 162
38 888
38 830
38 1,232
38 445
36 751
38 2, 541
38 3, 704
38 10, 613
38 1, 589
38 889
38 830
38 1, 233
38 445
38 7SS
38 2, 543
38 3, 727
38 10, 613
38 1,591
110
14
52
53
571
1,190
368
' 1, 492
88
366,927
300,603
" 54, 031
141, 878
146,405
»8 22, 594
38 22, 624
3,936
178
STATISTICS OF INCOME FOR 1941^ PART 2
Table 6. — Corporation returns with balance sheets, 19^1, hy total assets classes, and
come: ' Number of returns, selected assets and liabilities, selected receipts, compiled
other than oion stock; also, for returns ivith net income, the total tax — Continued
[Total assets- classes and money
Total assets
classes so
Num-
ber
of re-
turns
with
balance
sheets *»
Cash«
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets "
(less re-
serves)
Total
assets-
total lia-
bilities *'
Accounts
and notes
payable '^
TOTAL TRADE— RETURNS
1
50
100
250
500
1,000
5,000
10,000
50,000
100,000 -
Total...
42, 955
16, 086
14, 500
5,610
2,705
2,014
232
153
17
10
108, 204
106, 880
191, 368
160. 890
155, 714
339, 364
149. 701
293, 963
112,768
189, 3^1
267, 442
349, 747
727. 896
642, 350
617, 090
1, 190, 386
466, 323
776, 051
221, 429
781,650
84,282 1,808,162 6,030,366
376, 718
425, 819
824, 250
679, 032
638, 698
1, 277, 784
424, 131
776, 918
253, 926
717, 252
21, 745
32, 387
91,623
108, 485
123, 431
336, 506
188, 435
391, 800
413,316
409, 221
182, 662
204, 257
383, 998
314,615
302, 019
679, 613
337, 315
633, 180
207, 165
326, 076
6,394,528 I 2,116,950
I
3,570,890
971, 548
1, 145, 578
2, 272, 046
1, 955, 615
1, 882, 712
3, 916, 986
1, 596, 746
2, 919, 654
1, 221, 773
2, 491, 550
20,374,206
332, 272
355, 079
661,417
547, 150
525, 170
1. 089, 467
398, 090
708, 657
174, 644
926, 161
6, 718, 107
TOTAL TRADE— RETURNS
1
50
100
33, 130
3,456
1,812
458
165
119
35. 576
13, 494
15, 126
9,272
9,777
14. 627
117, 534
67,017
77,286
44, 157
28,676
49. 778
14. 549
7,650
16, 667
156, 619
68, 444
67, 186
34, 705
26, 598
60, 221
17, 836
15, 117
849
12, 810
10, 768
19, 023
15, 189
12, 761
34, 989
11,216
13, 689
77, 866
139, 674
71, 432
82, 793
46, 070
31,821
62, 185
6,344
56, 983
174
481, 239
239, 522
270, 414
155, 920
112, 290
230. 110
65, 042
102,053
103, 123
242,042
90, 594
95, 665
54, 119
36, 431
78, 600
21, 141
8,663
9,552
250
500
1,000
6,000
10 4, 619
6 3. 204
10,000
60,000
2
5,959
100,000
Total...
39, 157
111,554
423,313
446,574
208, 210
497, 474
1, 759, 714
636,797
TRADE: TOTAL WHOLESALE-
1 -
10, 140
4,966
5,736
2,751
1,399
1,076
118
74
6
3
32, 136
39,066
86,850
90, 733
92, 255
201, 141
79, 320
161, 752
48, 887
4,447
87,232
135, 936
331,771
335, 828
339, 397
704,318
280, 160
495, 756
109, 396
36,916
66, 669
116,681
329, 776
346, 552
348, 239
744, 039
216, 426
350, 517
77, 193
154, 554
7,530
12, 628
39, 248
54,657
66, 972
184, 962
117,359
228, 285
206, 058
128, 410
33, 970
48,063
116,223
111,329
111,001
233, 651
97, 716
110, 926
6,531
3,919
233, 392
359,826
921,016
963,452
979, 734
2,113,498
803,982
1, 367, 284
449, 901
328, 491
89,485
125, 427
,304,732
306, 761
325,463
717.979
258. 295
619, 632
80, 586
178,488
50 ,...
100
250
500
1,000. .-_
5,000
10,000 .-
50,000
100,000
Total...
26,269
835, 577
2, 856, 708
2, 749, 546
1, 045, 109
873, 330
8, 520, 574
2,906,848
TRADE: TOTAL WHOLESALE—
1
50
6,714
942
631
185
72
45
4
1
2
9,706
5,487
7,447
6,041
5,678
8,760
1,376
238
6,959
37,006
22, 633
31, 920
21,619
13, 165
22, 572
11,248
2, 965
16,667
25,021
17, 270
25, 009
14, 590
12,071
23, 215
2.001
5,589
849
3,886
4,064
8,413
6,046
6,891
12,077
391
1,437
77,865
22,217
13, 961
19, 438
13, 847
10,954
9,105
2,346
1, 591
174
102, 149
65, 872
95, 633
63, 509
50, 373
80,318
27, 091
16,696
103, 123
66,580
27,438
38, 857
27, 601
18, 273
40,417
6,571
2,672
9,552
100
250
600
1,000
5,000
10,000...'.
50,000 .
100,000
Total...
8,596
49, 693
179, 794
126, 614
121,070
93,633
604, 764
227,963
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
179
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable ^3
Capital
stock 64
Surplus
and'
undivided
profits "
(less
deficit)"
Gross
sales '*
and gross
receipts
from
opera-
tions 1'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
WITH NET INCOME
69,920
442, 808
66, 659
3, 892, 394
3, 937, 298
90, 887
90, 809
19, 029
12, 767
81,716
447, 773
188,613
3,995,085
4,046,079
109, 465
109,405
27,897
17,663
162,252
820, 375
483, 767
7, 164, 976
7,268,491
233, 460
233, 304
72, 971
41,932
125, 334
676, 663
463, 108
5, 559, 776
5,642,310
215, 864
215, 702
80, 818
42,025
114,495
619, 603
485,647
4,909,436
4, 988, 976
216, 793
216, 442
87, 596
43, 162
282, 749
1, 205, 443
1,047,973
9, 836, 589
9, 992, 398
460, 777
460, 306
192, 283
108, 716
125, 110
479, 197
479, £67
3, 322, 054
3, 380, 590
179, 466
179, 237
75, 400
48, 266
2£6,C40
832,036
931,603
7,618,387
7, 702, 950
312,325
312,087
135,802
87, 927
165, 837
494, 755
328, 320
1,541,874
1,593,793
84, 779
84, 685
33, 101
42, 570
31,289
650, 895
749, 866
3, 848, 638
3, 912, 955
288, £88
288, 588
128, 125
122,877
1, 414, 742
6, 669, 546
5, 225, 122
51, 689, 208
£2, 465, 841
2,192,405
2, 190, 565
853,020
667,904
WITH NO NET INCOME
75, 585
35, 231
40, 923
23,112
22, 426
42, 957
18,418
30, 147
14, 369
300, 440
120,783
134, 282
69, 386
40,616
74, 917
15,621
24, 147
50,000
67 173, 161
57 20, 258
67 16, 074
127
2,346
19,871
1,881
37, 667
21,767
1,711,498
610, 821
619, 677
299, 574
186, 026
402,164
40, 290
87, 399
30, 764
1,728,477
618, 736
629, 214
304, 594
190,141
409, 291
42, 193
89, 351
34, 572
38 45, 207
38 12, 638
38 12, 783
38 7, £07
38 5, 182
38 6, 606
38 2, 301
38 2, 025
38 27, 213
38 45, 209
38 12, 641
38 12, 791
38 7, 520
38 5, 191
38 6, 632
38 2, 303
38 2, 047
38 27, 234
893
279
530
818
1,041
635
140
61
3,400
303, 167
830, 192
67 125,834
3,988,212
4,046,670
38 121, 460
38 121, 568
7,788
RETURNS WITH NET INCOME
15,920
102,673
10, 521
1, 208, 664
1,223,293
27, 938
27, 903
6,213
4,641
23, 4C9
137,059
53,861
1,483,085
1,507,116
38,168
38, 151
10, 263
6,413
57,118
330, 512
178, 275
3, 368, 247
3,399,731
101,282
101,193
33,132
17,462
57, 8£0
324, 539
212, 229
3,173,397
3, 2C0, 449
114,294
114,193
44, 543
22, 413
64,646
306, 242
227, 786
2,929,435
2,9£5,034
121,245
121,095
51,426
23,035
127,096
615,642
£07, 673
6,051,687
6,103,940
2£8, 799
258, 591
111,737
60, 696
48, 392
224, 050
224, 536
1,860,015
1,881,728
101,196
101,067
45, 484
24,285
86, 299
307, 191
3£8, S86
4, 663, 776
4, 693, £81
156,007
154, 897
73, 512
35, 138
86,499
181, ££0
94,411
4C8, 574
418,706
20, 716
20, 711
4,946
10, 571
4,215
119,638
24, 327
167, 268
172, 635
7,679
7,679
1,577
7,045
661,443
2, 649, 096
1, 892, 005
25,324,148 25,656,215
946,326
945,480
382,833
211, 599
RETURNS WITH NO NET INCOME
16, 373
8,565
12, 558
8,165
12, 420
15, 307
6,414
73, 239
34, 437
44, 576
26, 674
18, 036
18, 863
5,132
10, 000
60, 000
67 51, 562
57 7, 639
57 6, 659
57 2, 343
57 2, 065
500
1,375
3,868
21, 767
465, 461
213,888
305, 221
164, 100
98, 916
230, 092
8,231
3,956
30, 764
470, 260
215, 907
308, 399
165, 873
100, 363
232, 640
8,639
4,275
34, 672
38 11,083
38 4, 492
38 4, 882
38 3, 616
38 2, 327
38 1, 606
38 367
38 243
38 27,213
38 11, 083
38 4, 494
38 4, 887
38 3, 517
38 2, 327
38 1,612
38 367
38 243
38 27, 234
153
97
92
641
983
299
14, 369
3,40(y
"" """ " " "
94,171
280, 956
67 42, 757
- 1, 520, 629
1, 540, 929 38 55. 729
38 55, 766
5, 56&
180
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balance
sheets "
Cash"
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets <3
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable «2
TRADE: WHOLESALE: COMMISSION MERCHANTS—
1
2,072
465
429
142
85
66
13
14
8,192
6,401
11, 224
8,768
12, 678
21, 041
16, 017
45, 992
15, 393
14, 963
30, 412
24,640
31, 784
61, 240
49, 650
112, 580
2,911
2,788
8,424
6,775
6,263
17, 785
3,504
10. 114
2,377
2,727
5,896
5,351
8,450
22. 150
17, 247
81, 598
6,713
5, 787
9,446
4,284
3,883
9,217
848
6,854
37, 095
33, 469
67, 174
50, 793
64, 529
134,071
87, 832
261, 952
12, 743
10, 995
22, 323
20. 451
26. 452
51, 029
61, 424
107, 015
50 -
100 ...
250
600 -
1,000
6,000
10,000
50,000
100,000
1
Total...
3,286
130, 313
340, 661
57, 666 145, 796
47, 031
736, 915
302,432
TRADE: WHOLESALE: COMMISSION MEkCHANTS-
1
1,328
112
77
18
6
6
1
2,301
945
1,110
, 962
1,033
994
192
5,769
3,198
4,634
2,736
1,863
2,901
5,566
1.045
699
906
456
144
660
995
1,037
1,650
909
608
1,694
3,945
1, 566
2, 567
793
678
222
153
14, 877
7.894
11,508
6,236
4. 531
8,133
5,911
8,151
2,942
5,016
3,415
1,148
3,547
5,761
60
100
250
500
1,000
5,000
10,000
50,000
100,000
Total...
1,648
7,537
26,668
3,910
6,893
9,924
69, 089
29, 980
OTHER WHOLESALERS—
1
50
100
250
500
1,000
5,000
10,000
50,000
100,000
Total-.
8,068
4,501
5,307
2,609
1,314
1,010
105
60
6
3
22, 983
23, 944
32, 655
74, 626
81,965
79, 577
180, 100
63, 303
115,759
48, 887
4,447
705, 264
71,839
120, 973
301, 369
311,188
307,614
643, 078
230, 510
383, 176
109, 395
36,915
63, 758
113,792
321,352
340, 777
341,976
726, 253
211,922
340, 403
77, 193
154, 554
2,516,047
2, 691, 980
5,153
9,901
33, 352
49, 306
57, 621
162, 812
100, 112
146, 688
206, 058
128, 410
899, 313
27, 258
42, 276
106, 777
107, 046
107,118
224, 435
96, 868
104, 072
6,531
3,919
196, 297
326, 357
853, 843
912,659
915, 204
1, 979, 427
716, 150
1,105,331
449, 901
328, 491
826,300 7,783,659
76, 743
114,432
282, 409
286,311
299, 010
666, 950
206, 872
4J2.617
80, 686
178, 488
2, 604, 416
OTHER WHOLESALERS—
1 _
60
100 .. ..
5,386
830
554
167
06
39
3
1
2
7,404
4; 543
6,337
4, 079
4,645
7,765
1,184
238
5,959
31, 236
19, 436
27, 280
18, 882
11,302
19, 670
5,681
2, 965
16,667
23, 976
16,571
24, 103
14, 134
11,928
22, 554
2,001
5,589
849
2,892
3,027
6, 763
5, 1.37
6, 282
10, 383
391
1,437
77, 865
18, 272
12, 396
16, 871
13, 054
10, 276
8,882
2. 193
1,591
174
87, 271
57, 979
84, 125
57, 273
45, 842
72, 185
21, 181
16, 690
103, 123
48,429
24, 496
33, 842
24, 186
17, 125
36, 870
810
2,672
9,552
260
500
1,000
6,000
10,000
60,000
100 000
1
Total...
7,048
42, 155
153,126 1 121,704
114,177
83, 709
545, 675
197, 983
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
-181
by major industrial groups,^ for returns with net income and returns with no net in-
net ■profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock 5<
Surplus
and
undivided
profits 5°
(less
deficit)"
Gross
sales 1^
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
2,416
1,656
4,343
3,681
2,469
10, 393
• 17, 107
13, 295
23,808
13, 182
18,014
35, 980
16, 909
62, 130
1, 521
6,269
12, 624
9,672
12, 909
30, 697
16, 131
61,712
169, 569
104, 006
230, 115
125, 503
117, 602
242, 392
22, 258
132, 281
176, 820
106, 721
233, 819
126, 929
118,976
245, 991
25, 641
139, 629
6,954
4,942
8,204
6,206
7,132
13, 184
7,030
23, 078
6,937
4,939
8,202
6,193
7,122
13, 174
7, 013
23, 021
1,648
1,531
2,710
2,526
3,093
6,311
2,823
11, 045
1,474
1,374
2,023
1,925
1,827
4,852
1 312
19, 078
6,065
44,036
200, 425
160, 336
1, 143, 626 1, 174, 627
76, 729
76, 601
^0,688
20,841
RETURNS WITH NO NET INCOME
3,669
830
980
831
1,278
60
13, 924
4,516
5,300
1,763
1,191
1,281
150
57 12, 179
67 821
57 170
144
890
2,988
66, 216
27, 978
24, 339
18, 389
838
11,921
512
68, 464
28, 565
24,979
18,443
1,036
12, 056
665
38 1, 853
38 559
38 426
38 75
38 42
38 48
38 1, 863
38 561
38 427
38 76
38 42
38 48
29
18
8
2
22
10
7,649
28,126
57 9, 148
160, 192
164, 188
38 3, 004
38 3, 006
88
RETURNS WITH NET INCOME
13, 603
86, 566
9,000
1, 039, 095
1, 046, 473
20, 984
20, 966
4,565
3,167
21, 753
123, 764
48, 592
1, 389, 078
1, 400, 396
33, 226
33, 212
8,732
6,038
52, 776
306, 704
166, 750
3, 138, 132
3, 165, 913
93, 078
92, 991
30, 421
16, 439
64,169
311,357
202, 556
3, 047, 894
3, 073, 521
108, 089
108, 000
42, 017
20, 488
62, 177
288, 228
214, 878
2, 811, 934
2, 836, 068
114,114
113, 972
48, 333
21, 208
116, 703
579, 662
477, 077
6, 809, 296
5, 857, 949
245, 615
245,417
106,427
65,744
48, 392
207, 140
208, 406
1, 837, 757
1, 866, 087
94, 166
94, 054
42, 662
22, 973
67, 221
245, 062
296, 674
4, 631, 495
4, 653, 962
131, 928
131, 876
62, 467
29,083
86, 499
181, 550
94, 411
408, 574
418, 706
20, 716
20,711
4,946
10, 571
4,216
119,638
24, 327
167, 268
172, 635
7,679
7,679
1,577
7,045
517, 407
2, 448, 671
1,741,669
24, 180, 622
24, 381, 689
869, 595
866, 879
352, 145
190, 768
RETURNS WITH NO NET INCOME
12, 704
7,735
11,577
7,334
11, 142
16, 247
6,414
59, 314
29, 921
39, 276
24, 910
16, 845
17, 682
4,982
10, 000
60, 000
57 39, 383
57 6, 819
57 6, 489
57 2, 487
57 2, 955
57 2, 489
1,375
3,868
21, 767
399, 245
186, 910
280, 882
145, 712
98, 078
218, 170
7,720
3,956
30, 764
401, 796
187, 352
283, 420
147, 430
99, 328
220, 584
7,984
4,275
34,672
38 9, 230
38 3, 933
38 4, 466
38 3, 441
38 2, 284
38 1, 657
38 367
38 243
38 27, 213
38 9, 230
38 3, 933
38 4, 461
38 3, 442
38 2, 285
38 1, 663
38 367
38 243
38 27, 234
124
80
84
639
962
289
14, 369
3,400
86, 522
252, 830
57 33, 610
1, 370, 437
1, 386, 742
38 52, 725
38 52, 759
6,477
182
STATISTICS OF INCX)ME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balance
sheets ^^
Cash *i
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets "
Gess re-
serves)
Total
assets —
total lia-
bilities *'
Accounts
and notes
payable '^
TEADE: TOTAL RETAIL—
1
28, 114
9,040
6,870
2,143
951
741
104
69
11
6
64, 599
55, 733
83, 169
53, 675
47, 282
114,052
67, 277
115, 308
63, 880
177, 396
136, 133
166, 594
302, 998
228, 928
202, 469
382. 263
164. 810
247, 289
112,035
736, 323
271, 055
258. 131
392, 689
248, 486
206, 240
430, 931
184, 672
379, 434
176, 733
538, 784
11.810
15, 629
39, 983
39, 698
40, 721
115, 122
66, 607
127, 170
207, 258
169, 188
127, 756
125, 394
207, 463
151, 370
140, 363
376. 040
226, 095
480, 583
200, 634
316, 599
627, W78
637, 549
1, 054, 831
742, 392
654, 639
1, 457, 174
725, 672
1, 375, 001
771, 872
2,005,628
203, 496
184, 594
276, 169
176, 084
141,365
283, 933
117, 841
167, 470
94, 058
736, 048
50..
100
250..
500
1,000
5,000
10,000 .
50,000
100,000
Total...
48,049
842, 370
2, 679, 842
3,087,155
833, 185
2, 352, 299
10, 052, 536
2,381,059
TRADE: TOTAL RETAIL-
1
22,489
2,008
914
204
71
57
5
3
21, 839
6,379
5,935
3,147
3,046
.4, 127
3,139
2,918
63, 039
33, 553
34, 564
16, 042
11,117
21, 155
2,823
4,283
113, 207
41,976
32, 478
15, 544
9,825
25, 817
15, 832
8,327
7,111
5,330
7,493
6,614
4,629
15.068
6,107
9,266
101. 032
46, 543
50, 349
24, 070
16, 756
40, 126
3,993
47, 725
318,616
138, 493
135, 035
68, 790
47, 206
109, 573
32, 298
73, 053
155, 092
50, 752
43, 617
20, 413
13, 126
27, 417
14, 434
5,712
60
100
250
500
1,000
5,000 . .
10,000
60 000
100,000
Total...
25, 751
60, 530
186, 577
263, 006
61, 619
330, 593
923, 064
330, 564
TRADE: RETAIL: GENERAL MERCHANDISE—
1 -
1,879
741
712
333
195
241
45
41
7
5
4,421
4,825
10, 187
10, 213
10, 567
39, 350
25,211
56, 653
36, 625
121,087
7,280
10, 760
26, 739
32, 812
38, 763
132, 448
72, 612
167, 425
60, 296
729, 470
25. 903
25, 9»7
48, 203
41, 460
44, 459
155, 468
80, 145
185, 917
107, 903
462, 138
937
1,401
5,864
6,937
7,714
28. 961
27. 400
63. 448
132. 345
157, 252
6,471
8,438
19, 399
22, 928
30. 342
136, 221
113. 184
344, 294
152, 085
301,251
45, 719
52, 388
113,010
117, 303
135, 894
507, 617
323, 501
831, 406
498, 074
1, 830, 033
11, 496
11,947
21, 676
19, 814
21,766
77, 870
40. 428
88, 666
34. 296
680, 948
50
100
250
500
1,000
6,000
10,000 -
60,000 .. -.
100,000
Total...
4,199
319, 140
1,278,605
1, 177, 593
432, 259
1, 134, 613
4, 454, 946
1,008,908
TRADE: RETAIL: GENERAL MERCHANDISE—
1
60
1,198
152
69
22
6
6
1,275
428
634
421
185
262
4,411
2,807
2,801
2,077
1,024
2,136
8,885
3,512
2,602
2,004
894
2,777
629
476
814
646
924
32
3,741
3,017
3,172
2,025
1,140
5,281
19, 631
10.619
10. 376
7, 896
4,315
10, 797
7,490
3,245
2,339
3,646
765
1,962
100...
250...
500
1,000 . . ..
5000
10 000
50,000
100,000
Total...
1,453
3,206
15, 254
20, 775
3,521
18, 377
63, 636
19, 447
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
183
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock '*
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales '9
and gross
receipts
from
opera-
tions 17
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
46, 525
289, 601
49, 083
2, 293, 869
2, 320, 220
53, 088
53, 063
10, 701
6,590
47, 700
249, 894
110, 798
2, 074, 806
2, 106, 651
67, 602
57, 571
14, 113
8,995
84, 882
379, 619
235, 897
3, 045, 887
3, 107, 326
104, 435
104, 379
31, 172
19,884
50, 781
261, 876
187, 748
1, 770, 034
1,817,697
76, 140
76, 096
26, 856
15, 271
43, 122
227, 226
185, 987
1, 439, 335
1,484,191
68, 436
68, 339
25, 485
14, 761
136, 522
474, 383
438, 225
3, 043, 705
3, 137, 256
162, 474
162, 298
64,166
40, 218
76, 062
240, 018
229, 000
1, 368, 158
1, 403, 635
72,583
72, 507
27, 770
22,368
160, 931
456, 737
504, 694
2, 719, 686
2, 769, 581
143, 407
143, 282
57, 348
46,346
79, 338
313, 204
233, 909
1, 133, 300
1, 175, 087
64,062
63, 974
28,155
31, 999
27,074
521, 257
601, 194
3, 562, 266
3,603,027
249, 680
249, 680
116,836
86, 832
752, 928
3, 413, 814
2, 776, 635
22,451,045
22, 924, 671
1,051,807
1, 051, 078
402, 590
292, 265
RETURNS WITH NO NET INCOME
50,642
22, 554
22, 324
12, 310
8,298
21,412
3,261
26, 508
188,606
67,438
69, 181
31, 672
17, 783
41,883
10, 240
14,097
37 100, 294
67 10, 667
67 7, 640
57 238
2,523
11, 907
4,031
25,542
1, 058, 497
311,827
243, 145
101, 788
63. 364
137, 881
30, 467
78, 248
1, 068, 974
316, 708
248, 403
104, 355
66, 571
141, 694
31, 912
79,643
38 28, 486
38 6, 269
38 6, 910
38 3, 140
38 2, 543
38 3, 022
38 1, 707
38 1,459
38 28, 486
38 6, 260
38 5, 913
38 3, 147
38 2,561
38 3,041
38 1, 710
38 1,482
480
162
399
202
39
239
140
61
167, 310
440,900
67 74,836
2, 026, 206
2,067,269
38 52, 526
38 62, 589
1,711
RETURNS WITH NET INCOME
2,024
24, 504
5,730
115, 917
117,392
3,898
3,896
824
713
2,780
24, 480
10, 619
116,403
118, 722
4,766
4,764
1,120
1,003
5,945
61, 070
29, 186
234, 992
241, 824
11, 486
11, 467
3,315
2,810
5,872
49, 207
33, 424
236, 101
244, 766
13, 326
13,317
4,617
3,520
11,423
54, 659
38, 722
263, 476
271, 963
16, 373
15, 366
5,769
3,276
60, 487
173, 834
155, 563
926, 493
957, 942
62, 588
62, 534
26, 529
14, 899
44,825
112, 476
104, 306
519,708
537, 107
33, 903
33,847
13. 205
10, 721
119, 713
271,214
308, 439
1,203,848
1, 232, 449
78, 212
78, 110
32, 547
23, 989
50, 108
210, 882
166, 197
649,014
666, 994
49, 447
49, 434
22, 197
20, 188
24,044
519, 167
489, 313
2, 440, 000
2, 480, 253
234, 769
234, 769
111, 208
76, 806
327, 220
1,491,483
1,341,498
6,705,952
6,869,400
507, 766
507, 505
220, 329
167, 925
RETURNS WITH NO NET INCOME
1,962
1,081
1,165
1,990
2,185
4,627
14, 381
5,909
9,479
3,632
755
3,000
57 5, 172
95
57 3, 158
57 2, 192
346
231
36, 548
12, 738
9.489
9,189
2,203
13, 282
37, 067
13, 081
9,930
9,845
2,393
14, 196
38 1,415
38 485
38 479
38 829
38 603
38 273
38 1,416
38 485
38 479
38 829
38 603
38 273
77
27
31
58
37
12,909
37, 154
67 9, 850
83, 448
86, 502
38 4,082
38 4,083
230
184
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes 'o
Num-
ber
of re-
turns
with
balance
sheets <"
Cash "
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable ^
TRADE:
RETAIL:
FOOD STORES, INCLUDING
MARKET
1.^
1,671
400
395
149
91
89
14
,9
2
1
2,774
2,187
4,638
4,116
4,753
16,311
9,505
29, 458
20, 276
56, 309
5,780
5,033
9,845
7,168
7,201
22, 107
9,718
10, 770
10, 755
6,853
8,188
6,247
14, 545
13, 328
19, 446
56, 826
28, 081
96, 712
34, 218
76, 646
693
789
2,730
2,098
4, 629 *
12, 472
6,411
17, 265
66,837
11, 936
12, 102
12, 947
27, 841
23, 696
27, 736
77, 629
42, 948
67, 467
20, 059
15, 349
30, 677
28,176
61,847
52, 463
65, 598
190, 286
100, 282
226, 238
154, 398
175, 595
10, 129
8,498
16, 977
13, 387
14, 394
47, 550
15,874
37, 442
18,611
55, 100
60
100
250
600
1,000
6,000__
10,000
50,000.
100,000
Total...
2,821
150, 326
95,228
354, 236
125,860
327, 773
1,085,560
237, 961
TRADE: RETAIL: FOOD STORES, INCLUDING, MARKET
1
2,420
248
135
32
13
12
1,977
730
976
559
639
1,361
6,661
3,408
3,416
1,557
1,803
2,903
7,401
3,040
3,454
1, 555
1,782
3,885
832
621
698
1,023
576
3,880
14, 487
8,380
10, 723
5,816
3,743
11,805
32, 717
16,866
19, 887
10,942
8,851
24,610
16, 302
7,267
6,675
2,300
2,470
5,070
50 ,
100
250
600
1,000
5,000
10,000
1
1,426
3,591
2,324
980
33,079
41,464
4,544
60,000
100,000
Total...
2,861
7,668
23, 339
23, 440
8,610
88,033
155, 33,6
44,627
TRADE:
RETAIL:
PACKAGE LIQUOR STORES—
1
732
66
28
3
1,775
520
642
13
866
356
503
76
7,323
2,920
2,565
663
127
39
79
2,130
671
605
106
12,639
4,628
4,352
875
5,899
2,297
2,199
568
60
100
250
600
1,000
6,000
10,000
60,000
100,000..
Total...
829
2,850
1,802
13, 472
245
3,511
22, 494
10, 963
TRADE:
RETAIL:
PACKAGE
LIQUOR STORES—
1
652
33
4
975
222
168
451
33
4,871
1,333
279
143
2
49
1,929
544
16
8,722
2,191
626
4,856
914
346
60
100
250
600
1,000
5,000
10,000
60,000
100,000
Total...
689
1,366
484
6,482
194
2,488
11,439
6,116
For footnotes, sec pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
185
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thoasan'ds of dollars!
Bonds and
mortgages
payable "
Capital
stock 5*
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales 1'
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 59
MILK DEALERS— RETURNS WITH NET INCOME
2,929
14, 551
1,234
158,470
159, 267
2,216
2,211
431
284
2,513
11, 845
3, 568
114, 360
115, 255
1,858
1,858
418
363
6,107
22,815
12,526
245, 901
247, 476
4,935
4,934
1,368
948
4,970
17, 907
12, 781
183, 046
184, 292
4,607
4,602
1,547
999
5,237
22,478
20, 026
228,480
230, 477
6,067
6,056
2,020
1,836
13, 596
64,831
54,796
680,111
684, 928
17, 665
17, 643
6,366
6,618
10, 948
36,585
31, 133
304, 310
306, 263
10, 707
10, 701
3,909
4,091
13, 231
71,782
93, 501
963, 942
968, 094
20, 032
20, 014
6,401
7,243
27, 150
66, 275
36. 622
319, 693
325, 796
3,666
3,666
1,496
7,556
3; 030
2,100
111,881
1, 122, 267
1, 122, 774
14,811
14,811
5,628
9,026
89, 712
331, 167
378, 066
4, 320, 579
4, 344, 621
86, 566
86, 496
29, 686
37, 862
MILK DEALERS— RETURNS WITH NO NET INCOME
4,701
2,537
3,405
2,067
780
2,586
18, 018
8,236
10,011
4.398
3, 141
11,680
" 8, 761
" 2, 061
57 1, 194
1,617
1,582
4,259
154,403
66, 381
59, 545
27, 426
24, 213
61,150
155, 380
56, 758
59, 908
27, 754
24, 722
61, 537
38 3, 229
38 913
3!' 989
38 423
38 478
38 903
38 3. 229
38 913
38 989
38 428
38 478
38 921
10
12
80
24
83
20, 000
5,240
10, 904
60, 473
60, 841
38 1, 261
38 1, 283
36, 076
60, 723
6,356
443, 590
446, 899
36 8, 195
38 8, 241
209
RETURNS WITH NET INCOME
936
573
512
20
3,808
1,043
636
111
1,240
518
695
112
42, 105
14, 443
13, 780
1,770
42,241
14, 485
13, 817
1,775
877
240
283
54
877
240
283
54
173
48
• 66
17
52
13
29
2,041
6,597
2,565
72, 098
72, 318
1,454
1,454
305
94
RETURNS WITH NO NET INCOME
1,247
638
141
3,264
532
33
" 1, 153
"50
1
26, 628
4,139
1,631
26, 686
4,165
1,631
38 620
38 80
38 14
38 620
36 80
38 14
(")
2,025
3,829
6' 1,202
32, 398
32, 483
38 714
38 714
Q*)
186
STATISTICS OF INCOME FOB 1941, PAET 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and'
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes '"
Num-
ber
of re-
turns
with
balance
sheets *"
Cash"
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments *•
Capital
assets <3
(less re-
serves)
Total
assets-
total lia-
bilities "
Accoimts
and notes
payable '^
TRADE: RETAIL: DRipG STORES—
1
1,883
196
79
31
25
24
3
2
3,316
1,102
1,142
1,557
2,121
5,365
3,222
5,615
3,885
1.716
1,333
735
878
2,151
567
12,067
17, 833
6,337
6,309
5,568
7,508
24, 563
8,581
14,410
726
391
559
306
758
2,931
1,225
4,446
7,742
3,265
2,777
2,757
5,264
12, 889
5,077
8,883
34, 242
13, 176
12, 444
11,142
17, 179
49,385
19,311
46, 994
11,063
3,419
3,304
3,224
3,208
8,944
3,767
4,784
50
100
250
500
1,000
5,000
10,000
50,000
100,000
Tota*l...
2,243
23, 440
23, 331
91, 108
11,341
48,654
203,872
41, 713
TRADE: RETAIL: DRUG STORES—
1
1,867
62
12
6
1
1,329
153
37
353
36
2,435
370
203
109
19
12,487
1,454
552
853
258
494
172
156
40
6
7,361
1,250
724
690
256
24,817
3,527
1,794
2,023
683
10, 934
1,442
486
663
263
50
100
250 .. ..
500
1,000
5,000
10,000
50,000 -
100,000
Total...
1,938
1,908
3,136
15, 603
870
10, 181
32, 743
13, 787
TRADE: RETAIL: APPAREL AND ACCESSORIES—
1
50
100 "...
250
4,435
1,133
7?9
275
146
103
12
6
11, 108
8,350
11,035
8,909
9,150
19, 676
9,759
10, 655
18, 916
21, 302
34, 551
28, 264
29, 644
46, 423
11, 709
17, 135
53, 199
35, 391
49, 659
37, 006
35, 616
66, 166
23, 870
31, 060
1,592
1,960
4,109
4,318
5,623
21,313
15, 734
21, 751
10, 422
9,954
17, 374
14, 356
17, 124
36, 021
13, 901
20, 877
96, 860
78, 632
119, 352
95, 760
100, 262
196, 849
77, 191
103, 649
34, 113
22, 698
34, 125
25, 360
25,664
42, 405
10, 131
7,865
500
1,000
5,000 .
10,000
60,000
100,000
Total...
6,889
88, 642
207, 943
331, 967
76, 400
140, 030
868, 545
202, 363
TRADE: RETAIL: APPAREL AND ACCESSORIES—
1
60
100_
250
500 ...
2,820
183
69
11
3
7
3,206
868
452
139
137
718
6,601
3,135
3,171
645
836
4,055
19, 166
5,706
3,872
1,166
701
3,152
742
446
371
329
4
1,004
5,673
2,476
2,039
1,370
433
1,615
36, 316
12, 906
10,215
3,730
2,193
11, 076
19, 473
5,146
4,338
663
714
4,522
1,000
6,000
10,000
50,000
100,000
Total...
3,093
6,619
18, 443
33, 761
2,895
13, 606
76, 436
34,863
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
187
hy major industrial groups,'^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable 53
Capital
stock 54
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales "
and gross
receipts
from
opera-
tions '7
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
2,335
17,614
1.601
112, 994
114, 087
2,668
2,667
535
410
776
5,632
2,651
37, 348
37, 798
1,254
1,252
300
226
1,534
4,434
2,759
40, 698
41, 106
1,205
1,204
334
237
733
3,580
3,031
37, 346
37, 897
1,395
1,395
424
369
2,841
5,150
4,879
53, 058
53, £90
2,075
2,073
738
899
6,230
11, 151
19, 472
146, 803
148, 853
6,427
6,425
2,422
2,155
7
4,703
8,967
44, 396
45, 335
3,257
3.257
957
1,190
138
28, 705
10, 783
85, 251
88,175
5,052
5,052
1,005
2,492
14, 593
80, 969
54,144
557, 895
567, 242
23,334
23, 326
6,716
7,976
RETURNS WITH NO NET INCOME
3,966
529
402
327
3
14, 984
1,535
844
1,110
268
57 6. 786
57 134
57 59
57 158
16
74, 346
8,117
2,695
5,052
2,012
75, 086
8,220
2,672
5,129
2,038
38 1, 713
38 137
38 66
38 185
38 29
38 1,713
38 137
38 66
38 185
38 29
12
5
5
5,227
18, 741
57 7, 120
92, 122
93, 145
38 2, 130
38 2, 130
22
RETURNS WITH NET INCOME
5,037
46, 174
6,742
273, 897
278, 101
8,472
8,469
1,650
696
3,978
32, 936
14, 689
198, 410
202,841
7, 813
7,810
1,856
1,008
6,724
45, 313
24, 784
296, 484
304, 974
12,733
12, 729
3,604
1,881
5,554
34, 528
22, 403
233, 355
240, 393
10, 430
10, 426
3,617
1,614
4,347
32, 167
29, 562
222, 839
231,054
12, 196
12, 190
4,686
2,156
13,702
56, 728
67, 228
470, 183
486, 676
24,925
24,832
9,911
5,474
4,261
31, 802
26,725
168, 142
170,664
9,499
9,499
3,736
3,514
11,334
27, 181
46, 782
177,013
181, 342
17,159
17, 156
7,339
5,267
" " """
54,937
306, 829
237, 816
2, 040, 323
2, 096, 045
103, 226
103, 160
36, 399
21,600
RETURNS WITH NO NET INCOME
4,563
1,262
1,528
504
232
156
22, 835
7,228
4,376
2,031
1,271
4,343
6' 13, 387
57 1,417
57 694
476
57 101
1,369
94, 189
24,917
17, 305
6,232
3,826
15, 678
95, 352
25, 477
18, 032
6,376
3,927
16, 043
38 3, 693
38 646
38 506
38 133
38 359
38 239
38 3, 693
38 646
. 38 506
38 134
38 359
38 239
10
3
2
37
8,234
42, 084
67 13, 753
162, 147
165, 206
38 5, 576
38 5, 576
51
188
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; Q,lso, for returns loith net^ income, the total tax — Continued
[Total assets classes and money
Total assets
classes '"
Num-
ber
of re-
turns
with
balance
sheets *"
Cash«
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets *^
(less re-
serves)
Total
assets —
total lia-
bilities <5
Accounts
and notes
payable ''
TRADE: RETAIL: FURNITURE AND HOUSE
1
60
1,683
772
740
280
117
70
9
4
1
3,059
2,784
6,042
3,629
3,067
6,757
3,424
2,641
2,090
16, 586
26, 243
62, 850
52, 463
44, 892
65, 589
31, 132
28, 909
33,039
16, 609
19, 437
33, 565
25, 124
17, 586
28, 923
12, 703
8,424
27, 935
532
952
2,389
3,477
3,236
9,084
6,335
1,777
161
3,599
5,214
11, 364
10, 422
9,190
16, 887
6,185
4,015
5,297
41, 184
55, 652
117, 580
97, 318
79, 469
128; 605
59, 615
46,324
68, 521
14, 932
16, 189
26, 333
20,091
16, 180
22, 466
11, 977
8,588
34, 867
100
250
500
1,000
5,000
10,000
60,000
100,000
Total...
3,676
31, 393
361, 703
190, 306
26, 944
72, 173
694, 269
170, 623
TRADE: RETAIL: FURNITURE AND HOUSE
1
1,064
137
70
21
4
5
913
390
319
154
41
150
6,312
3,976
5,018
3,165
1,158
2,774
6,994
2,898
2,809
1,836
510
1,367
250
237
479
647
168
882
2,020
1,566
1,743
1,258
486
557
16, 962
9,310
10, 656
7,241
2,426
6,092
8, 637
3,083
2,806
2,106
408
682
60
100
250
500
1,000
5 000
10,000
60,000
100,000
Total—
1,301
1,967
22, 403
16, 414
2,652
7,629
52, 677
17, 620
TRADE: RETAIL: EATING AND DRINKING
1
2,786
283
173
39
14
19
2
3
6,495
2,334
2,871
1,831
1,275
5,187
1,800
3,141
2,690
1,857
2,096
949
618
2,127
1,168
246
6,183
2,614
3,249
1,471
1,037
2,956
1,929
2,534
973
737
1,151
1,258
663
4,199
2,622
13, 010
23, 247
11, 274
14, 700
7,682
6,256
19, 429
• 4,809
30, 675
40, 924
19, 675
25, 785
13, 683
9,643
35, 220
12, 693
50,082
14, 587
6,141
7,257
1,967
1,454
3,766
1,963
1,896
60
100
260
500
1,000
6,000
10,000
60,000
100 000
Total...
3,319
23, 935
11, 650
21,973
24, 616
116, 972
207, 604
39, 031
TRADE: RETAIL: EATING AND DRINKING
1
4,355
151
77
14
9
6
3,477
438
370
258
703
516
2,174
784
917
320
310
38
5,364
786
694
246
347
426
845
365
411
714
659
49
31, 835
7,649
8,261
2,939
4,116
11, 115
46, 736
10, 490
11, 056
4,659
6,313
12, 261
26, 766
4,214
3,457
1,911
1,152
4,516
60
100
250..
600
1,000....
5 000
10,000..
1
943
65
290
6,757
12, 160
20, 630
909
50 000
100,000
Total...
4,612
6,705
4,607
8,143
9, 800
77, 976
112, 143
41. 926
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
189
by major industrial groups,^ for rettirnfs with net income and returns with no net in-
net 'profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock 54
Surplus
and
undivided
profits 33
(less
deficit)"
Gross
sales '9
and gross
receipts
from
opera-
tions 17
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
FURNISHINGS— RETURNS WITH NET INCOME
2,634
18, 555
2,098
95, 789
97, 658
3,037
3,034
573
220
3,844
22, 188
8,594
92, 214
95, 684
4,418
4,417
995
341
8,590
40, 875
27, 723
151,438
162, 713
10, 013
10,011
2,772
1,284
6,521
28, 822
24, 589
111,946
125, 194
7,933
7,932
2, 533
992
3,668
25, 044
19, 469
81,834
94, 073
6,715
6,712
2,320
910
8,447
38, 914
32, 663
130, 947
150,355
9,930
9,917
3,587
1,694
400
16,851
13, 659
64, 232
72, 295
5,248
5, 234
2,1.56
1,284
1,232
19. 065
6,572
49, 299
57, 290
5,163
5,163
2,188
1,212
10, 000
20,154
91, 309
107, 760
4,603
4,602
1,745
1,000
35, 336
220, 314
155, 521
869, 008
963, 621
57, 060
57, 019
18, 869
8,937
FURNISHINGS— RETURNS WITH NO NET INCOME
2,178
1,271
1,448
' 1,C11
11,171
4,946
4,883
1.920
57 6. 666
67 655
222
1,145
34, 495
10,429
9,023
7. 4] 9
35,178
10, 708
9,705
7,902
2, 007
3,869
38 1,684
38 338
38 578
38 219
38 103
38 96
33 1, 684
38 338
38 578
38 220
38 108
38 96
18
8
(H)
2
: 475 997
6 , 1.G56
53 - 3, 19(5
15
700
3, 853
7,083
27, 770 6" 5. 894 i 66. 219
69, 368
38 3, 019
38 3, 025
42
PLACES— RETURNS WITH NET INCOME
5,429
17, 828
57 559
190, 451
192,172
4,419
4,418
836
545
2,679
6,248
2,892
62, 020
62, 839
2,370
2,370
631
411
4,514
6,918
4,693
71,557
72, 809
2,754
2, 751
754
485
1,598
5,037
3,882
32, 731
33, 164
1,584
1,584
573
449
802
3,414
3,170
24, 548
24, 982
1,090
1,088
356
S36
5,260
11,236
12, 857
74, 425
75,415
4,203
4,200
1,323
1,831
2,983
7, 25
22, 019
22. 156
998
997
350
545
4,705
23, 563
17,715
56, 078
57, 550
4,497
4,496
1,156
2,557
24, 987
77, 227
51,775
533, 829
541, 087
21, 914
21, 904
5,980
7,159
PLACES— RETURNS WITH NO NET INCOME
12, 271
3,625
3,660
1,568
938
5,420
23, 459
3,231
4,947
1,540
2,738
4,749
57 19, 881
57 1, 559
57 1, 700
57 606
11
57 2, 948
203, 116
25, 433
17, 656
8,529
9,360
11, 355
204, 489
25, 887
18, 163
8,650
9, 533
11, 804
38 5, 972
38 891
38 811
38 217
38 346
38 325
38 5, 972
33 891
38 811
33 218
33345
33 325
26
7
7
2
16
6,508
4,057
8,839
13, 292
14, 318
38 171
38 172
33. 989
44,721
07 17, 844
288,742
292, 842
38 8, 731
38 8, 733
68
589783 — 44-
190
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporaiion returns with balance ><hcets, 1941, by fatal assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than otvn stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes so
Num-
ber
of re-
turns
with
balance
sheets ♦"
Cash <'
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets <5
(less re-
serves)
Total
assets —
total lia-
bilities '5
Accounts
and notes
payable '2
TRADE: RETAIL: AUTOMOTIVE DEALERS-
1 . ._.
3,443
1,973
1,465
290
83
34
6
3
10, 126
14, 329
21.015
7. 856
3,968
5.670
6,744
6,065
18, 249
24, 824
41,634
21. 127
17. 404
22, 062
6. 327
10, 077
48. 481
71. 976
112. 185
44.273
21, 336
19. 132
12. 273
33. 800
1.524
2,246
6,372
3,944
2,534
3,792
4.917
3,511
13. 066
20. 149
32. 516
17, 073
8,846
13, 184
12, 200
2,474
95, 657
139, 073
221, 660
97, 374
55. 539
64,974
42, 755
57, 030
36. 895
52, 351
78, 548
34,629
19, 634
32, 891
5,945
14, 836
50
100
250
500
1,000._
5,000
10,000
50.000
100,000
Total-..
7,297
75, 774
161, 704
363. 4^57
28,840
119,506
774, 063
275, 627
TRADE: RETAIL: AUTOMOTIVE DEALERS-
1
50.
100
2.50
500
1,000
1,862
295
93
8
5
4
2,520
935
717
87
543
180
7. 377
3.809
2,930
973
1.280
2,383
17, 730
9,673
5, 487
813
737
1,360
741
513
388
142
421
2,305
6,133
4,704
3,265
516
117
77
35, 938
20, 417
13, 298
2,595
3,261
6,584
17, 702
9,323
5.969
1,396
1,302
1.731
5,000
10,000
50,000
100,000
1
Total.. -
2,267
4,981
18, 753
35, 800
4,510
14, 802
82, 094
37.423
TRADE: RETAIL: FILLING STATIONS-
1
50
100
250
500...-
1,000
1,011
160
99
23
6
8
3
2,207
1,298
1,816
437
246
1.418
2,670
4.371
2,248
2. 722
1,208
442
1.940
2,032
3. 813
2, K52
2.418
1,448
1,014
3,408
3,997
616
271
782
368
285
417
49
7.114
4,400
7, 658
3,937
2,384
7,892
12, 466
18, 618
10, 501
15, 796
7,601
4,453
15, 266
21, 463
4,815
2,428
2,715
2.026
1,494
5, 646
6,925
5,000
10,000.
50,000
100,000
1
4,890
7,945
6,677
7,915
23, 193
50, 879
■ 6,283
'
1
Total - . .
1, 30!
14, 981
22, 908
24, 927
10, 601
69, 043
144, 575
32, 332
TRADE: RETAIL: FILLING STATIONS—
1
60
881
.52
23
3
661
133
160
13
2, 4,58
720
660
70
1. .562
343
.365
37
302
131
368
1
4,932
2,101
1,818
714
10,328
3, 536
3,414
877
4,424
937
1,180
137
100
260
500
1,000
6,000
10,000
60,000
100,000
Total...
959
967
3,908
2,308
802
9, 566
18, 1.55
6,678
For footnotes, see [ij), 234 2.36.
STATISTICS OF INCOME FOR 1941, PART 2
191
by major industrial groups,^ for rehir^is with net income and returns with no net in-
net profit or net loss, net income or deficit, and divideiids paid in cash and assets
figures in thousands of dollars]
Bond.s and
mortgages
payable "
Capital
stock 54
Surplus
aud
undivided
profits 55
(less
deficit)"
Gross
sales 16
and gross
receipts
from
opera-
tions "■
Total
compiled
receipts *
Compiled I
net profit :
or net loss !
Net ill-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
9,865
36. 094
5,900
652, 585
659, 091
9,312
9.311
1, 955
827
13, 982
42, 952
18, 302
885, 366
894, 931
15, 697
15, 694
4,260
2,218
23,371
60, 144
39,600
1, 285, 852
1, 299, 700
27, 511
27,509
9,577
5,506
9,839
22, 946
21, 251
491, 253
496, 062
12, 854
12. 851
5,164
2,326
3.781
13, 117
15, 389
264, 821
267, 610
7,261
7,258
3.088
1,610
6,573
11,919
8,497
208, 668
210, 903
8,680
8.680
3.777
1,167
6,268
10, 028
18, 059
101,310
102, 252
3,868
3.867
1,807
684
7, 50t)
9,881
19,900
139, 225
139, 251
12, 978
12, 978
6,710
3,S95
81, 180
207. 082
146, 897
4, 029, 081
4, 069, 801
98, 161
98, 148
36, 339
17, 933
RETURNS WITH NO NET INCOME
6,217
4, 0fc2
2,039
190
213
637
18.413
7.744
3.932
819
813
2,918
5- 9, 303
5" 2, 385
517
84
494
625
203. 965
93. 598
51. 933
6.752
6.589
15, 115
206, 125
94. 804
52. 605
6.880
6.822
15, 274
35 2, 756
3^623
3S 322
3^151
38 148
38 134
38 2, 756
3'fi23
35 322
38 151
36 148
36 134
47
15
26
43
0*)
11
'
13, 387
34, 640
5" 9, 969
377, 953
382, 510
3* 4, 134
36 4, 134
143
RETURNS WITH NET INCOME
2,057
7,371
2,610
71, 453
72, 400
1,447
1.447
281
197
1,402
3,239
2,223
32, 255
32, 654
688
681
152
102
2,025
5, 287
4,297
38, 830
39. 833
1,243
1.243
281
344
830
2,541
1,695
21, 905
22.292
534
534
153
156
313
893
1,439
11, 625
11, 700
413
413
127
39
149
2,198
6,253
34, 126
34,843
2,425
2,424
911
497
1,750
8,392
3,902
21, 991
22,635
1,766
1,766
553
277
2,080
26, 048
10, 936
73, 285
74, 539
6,347
6,272
2,717
3,256
- -
10,607
55,968
33,255
305, 469
310, 896
14,864
14, 780
5,174
4,867
RETURNS WITH NO NET INCOME
2,046
1,017
902
148
5, 222
5- 2. 300
39, 547
5, 246
6,014
1,577
39, 919
5,365
6. 159
1,592
38 732
38 123
36 101
36 45
36 732
38 123
38 101
38 45
21
1, 292 95
1. 307 57 132
169 330
12
— " 1" '"
4,113 j 7,989 1 572,007 1 52,384 .53, 034 | 3Si,002i 35], 002 1 j 33
192
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns xvith balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns u'ith net income, the total tax — Continued
[Total assets classes and money
Total assets
classes *"
Num-
ber
of re-
turns
with
balance
sheets "
Cash 41
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable '^
TRADE: RETAIL: HARDWARE—
1 .
1,151
350
164
33
13
5
2,182
1,716
1,435
502
626
291
6,327
6,500
7,155
3,926
4,197
2,978
15, 450
11,501
10, 336
4,577
3,556
2,482
482
645
542
687
63
1,251
3,516
3,749
3, 682
1, 775
1,049
437
28, 333
24, 394
23, 622
11,829
9,657
7,662
7,467
6,713
6,055
3,142
3,983
1,477
50
100
250
500
1,000
6,000
10,000
50 000
100 000
Total-..
1,716
6,752
31, 084
47,902
3,569
14, 208
106, 497
27,838
TRADE: RETAIL: HARDWARE-
1
50
570
51
12
2
537
107
61
12
2,235
829
469
121
6,232
1,402
529
244
156
156
62
16
1,576
794
605
261
9,978
3,381
1, 742
661
3,674
841
396
61
100
250
500
1,000
5,000
10,000
60 000
100 000
Total-. -
635
717
3,654
7,407
390
3,236
16, 762
4,873
TRADE: RETAIL: BUILDING MATERIALS, FUEL,
1
2,441
1,327
1,138
366
129
80
3
6,114
5,933
10, 459
7,033
5, 290
8,866
1,846
22, 061
32, 078
58, 972
41,218
26,986
38, 903
6,721
21, 675
29, 159
49, 698
35, 351
23,839
36, 769
4,174
1,234
3,117
8,680
11,161
10, 250
17, 520
1,879
13, 983
23, 126
41, 524
30,011
19, 325
35, 852
6,600
65, 032
95, 313
173. 248
127, 172
87, 078
140, 705
21,382
18, 945
23, 455
36,419
25,114
13, 757
17,972
6, 975
50
100
250
500
1,000
5,000
10 000
50 000
100 000
1
Total...
6,484
44, 540
226, 929
200,665
53, 841
170, 321
709, 929
142, 637
TRADE: RETAIL: BUILDING MATERIALS, FUEL,
1
1,774
351
211
53
13
8
2
1,894
964
1,121
692
238
364
718
10,961
7,699
9, 351
4,149
1,967
1,988
2,030
7,411
6, 013
5,083
3,002
1,283
1,405
1,140
840
1,215
2,513
2,178
1,493
4,431
4,848
9, 766
8,739
12,816
6,641
2, 826
9,210
3,214
31,877
24, 496
31,861
17, 523
8,074
18,141
12,035
15,629
7,735
9,093
4.900
2, 816
1,514
720
50
100
250
500
1,000
,5,000
•in nnn
100,000
Total. -
2,412
5,992
38, 145
24, 337
17, 518
' 63,211
144,006
42, 407
For footnotes, sec pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
193
by major industrial groups,^' for returns ivith net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Surplus
and
undivided
profits "
Gross
sales '6
Bonds and
mortgages
Capital
stock 54
and sross
receipts
Total
compiled
Compiled
net profit
Net in-
come or
Total
tax 56
Divi-
dends
payable =3
from
receipts «
or net loss
deficit 3
paid 8
deficit)"
opera-
tions 1'
RETURNS WITH NET INCOME
1,653
2,006
1,703
578
148
1,236
15, 160
11,066
8,823
5,701
2,412
2,077
3,026
4,822
6,165
1,814
2,407
2,382
57, 990
43, 796
41,015
20, 512
18, 856
10,027
58,824,
44,617
41,977
20, 977
19, 382
10, 282
1,972
1,942
2,076
991
1,325
900
1,972
1,939
2,076
991
1,300
893
396
448
557
319
600
425
179
292
273
164
168
109
7,323
45, 239
20, 616
192, 196
196, 059
9,205
9,171
2,745
1,184
RETURNS WITH NO NET INCOME
1,035
376
145
47
■ 7, 505
1,974
1,442
270
" 2, 513
57 20
"255
281
15, 538
3,259
1,681
510
15, 716
3,325
1,717
522
38 646
38 99
38 32
38 8
38 546
38 99
38 32
38 8
2
3
CO
1,603
11,191
" 2, 508
20, 988
21,280
38 686
36 686
5
AND ICE— RETURNS WITH NET INCOME
4,134
6, 153
11,182
7,912
4,170
13, 256
7,145
33, 482
44, 691
77. 312
56,287
38, 615
64, 427
2,322
6,200
17, 906
42,596
33, 708
27, 796
38, 769
3,928
161, 193
190, 606
299, 773
198,917
116, 570
183, 492
40, 193
163, 000
193, 416
305. 610
202, 732
119. 575
188, 169
40, 445
4,673
6,808
13, 122
9,783
6,121
11,268
760
4.669
6,800
13, 109
9,773
6,108
11,254
760
931
1,545
3, 386
3,125
1,914
4,055
172
1,029
1,642
3,062
2,400
2,070
3,870
53, 952
317, 137
170,903
1,190,745
1,212,947
52, 535
52,473
15, 128
14, 073
AND ICE— RETURNS WITH NO NET INCOME
4,559
3,265
4, 962
3,318
1,592
3,316
3,000
20,080
13,687
15, 742
10, 307
3,215
7,624
4,748
" 9, 945
"1,054
1,157
"1,355
121
5,322
3,442
74, 550
37, 396
37,911
19, 397
7,228
9,625
12, 573
75, 450
38, 056
38, 728
19, 794
7,392
9,800
13, 245
38 2, 577
38 1,012
38 1, 169
38 622
38 102
38 543
38 30
38 2, 577
38 1,013
38 1,172
38 622
38 104
38 543
38 32
207
48
225
55
71
24,011 75,403
"2,312
198, 681
202,467 I 38 6,055
38 6,063
605
194
STATISTICS OF INCOME FOR 1941, PART 2
Tabt^e ().
— Corporation returns with balance sheets, 1041, by total assets classes, and
come: * Nymber of returns, selected assets and liabilities, selected receipts, compiled
other than oum stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes so
Num-
ber
of re-
turns
with
I balance
sheets *'''
Cash <i
Notes and
accounts
receivable
(less re-,
serve)
Inven-
tories
Invest-
ments 5'
Capital
assets ^'
(lees re-
serves)
Total
assets-
total lia-
bilities <5
Accounts
and notes
payable '"•
OTHER RETAIL TRADE-
1
2,997
911
628
212
90
49
6
1
7,466
5, 470
7,707
5,515
4,867
4,237
3,019
• 1, 079
17, 096
19, 561
32, 537
26, 601
• 27,723
25, 789
37, 186
26. 196
1,423
1,581
3,628
3,281
3,474
9,823
1,035
1,961
11, 771
10, 180
12, 695
9.229
8, 580
12, 743
5,528
1,898
66, 900
63, 786
96,417
73, 142
60, 424
88, 833
39, 158
13, 279
21, 721
19, 240
25, 750
19, 289
14, 853
17, 469
12, 793
3,393
50
100_..
250
500
1,000
21,671
33, 848
19, 997
26. 904
5,000
10,000
20, 507 6, 752
662 6, 676
50,000
100,000
Total- --
4,894
39, 361
172, 482
177, 122
26, 207
72,625
501, 938
134, 508
OTHER RETAIL TRADE-
1 __ .._
50
100
2,042
165
75
21
9
6
3
1
2,028
589
■ 448
296
284
485
2,421
550
6,710
3,151
3,191
1,721
1,128
3,130
792
628
10, 948
3,947
4,232
2, 842
2.599
5,479
• 14, 692
5,714
759
655
831
459
229
2,114
1,260
1,529
6,944
2,543
1,924
28,599
11, 170
10. 876
14, 485
3,863
4,267
1,582
2,095
3.015
13, 714
259
250
1, 166 7, 073
951 5. 684
500
1,000
75
778
2,485
11, 326
20, 264
10, 959
5,000
10,000 _
50,000
100,0(X)
Total. _.
2,322
7,099
20, 451
50, 454
7,837
16, 868
105, 950
43, 280
RETAIL TRADE NOT ALLOCABLE-
1 -
2,002
738
470
109
42
19
1
5,557
4,884
5,281
2,162
1, 3.52
1,924
77
12, 137
14, 117
22, 062
12, 382
9,772
11, 686
2,316
18, 676
18,611
22, 771
12, 021
10, 846
7,335
2,167
1,052
1,599
3,099
1,862
1,593
3,359
12, 593
12, 029
15, 329
7,498
5,267
6,858
3,297
51, 003
52, 155
69, 717
36, 730
29, 542
31, 773
8,321
11,431
10, 218
14, 813
7,473
6,078
6,479
1,063
50
100..-.
250 .
500
1,000
5,000..
10,000
50,000
100,000
Total...
3,381
21, 2.36
84,472
92, 427
12, 563
62, 870
279, 243
66, 654
RETAIL TRADE NOT ALLOCABLE—
1
984
138
64
11
8
4
1,047
423
472
163
240
91
4,254
2,835
2,435
1,137
1,591
1,747
5, 065
2, 874
2. 520
946
714
5,964
377
340
363
619
160
371
4,734
2,879
3,264
774
2, 689
391
16, 005
9, .583
9,336
3,572
5, 507
8,685
5,820
2,745
2,264
1,049
1,142
4,507
.^o
100
2m
500
1,000
5,000
10 000
50 000
100 000
Total...
1,209
2,436
13,909
18, 082
2,119
14, 721
62, 689
17, 627
For footnotes, see pp. 234-236.
STATISTICS OF IXCO:\IE FOR 1941, PART 2
195
by major industrial groups,^ for returns with net income and returns ivith no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable 53
Capital
stock 54
Surplus
and
undivided
profits 53
(less
deficit)"
Gross
sales '8
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net i:irofit
or net loss
Net in-
come or
deficit 3
Total
tax 56
Divi-
dends
paid 8
RETURNS WITH NET INCOME
4,407
31, 196
3, 934
188, 083
190, 709
5,934
5,931
1,231
755
4.091
22,804
10, 247
141, 380
144.833
5.839
5.837
1,457
686
7,266
30, 437
22, 169
178,561
184, 967
12,010
12, 003
3,866
2. 013
3,554
21,653
18, 486
129, 635
134. 799
9,284
9,277
3,633
1,489
2.901
19, 301
16, 158
93, 045
96, 347
7,218
7.194
2.998
1,073
5.019
27, 571
29, 029
129, 338
135, 634
11, 456
11, 438
5.217
2,452
448
7,875
11,099
67, 103
68, 757
2,420
2,420
876
62
3,079
5,345
1,002
45, 030
45, 429
. ,315
315
30,765
166, 181
112, 124
972, 176
1,001,474
54, 476
54, 415
19, 279
8,530
RETURNS WITH NO NET INCOME
3,997
1,660
1,301
849
383
3,587
261
18, 877
5,765
7,161
3,663
3.385
2,496
5,492
4,800
67 11,291
57 1, 216
67 2, 443
57 58
57 712
1,348
589
5,799
60, 622
14,332
14, 771
6,223
3,003
1,826
17, 894
4,483
61,391
14, 669
15, 254
6,301
3,114
2.296
18, 667
4,484
38 2. 441
38 498
38 581
33 200
38 194
38 248
38 1, 678
38 27
38 2, 441
38 499
38 581
3S200
38 194
38 248
38 1, 678
38 27
21
9
13
9
7
140
51
12, 038
51, 639
57 7. 985
123. 1,54
126, 177
38 5, 867
38 5, 868
251
RETURNS WITH NET INCOME
3,086
2,922
5,408
2,801
3,490
2, 567
23, 265
20, 769
25, 555
13, 557
9,977
9,497
6,000
9,428
13, 867
18, 705
10, 571
6,971
10, 718
- 1, 096
172, 942
146, 206
147, 006
71,516
60, 182
49, 090
14, 755
175, 276
148, 576
150. 520
73, 367
62, 437
53, 256
15, 727
4,161
3,909
5,065
3,366
2,583
2,007
157
4,151
3,908
5,061
3,361
2,583
2,006
157
885
882
1,293
1,133
870
632
49
684
702
1,014
794
387
552
'
20, 275
108, 619
71, 356
661, 6%
679, 159
21, 249
2', 227
5, 743
4,134
RETURNS WITH NO NET INCOME
1,911
1,203
1,226
292
1,498
483
10, 397
5, 357
5,024
1,814
1,201
1,221
57 3, 146
57 306
98
40, 550
15,840
13 .'iQI
41, 145
16, 192
13, 901
3.611
3,623
6, 875
3 n, 107
38 413
38 261
38 108
38 183
38 262
38 1, 107
38 413
38 261
38 108
38 183
38 262
29
13
14
200 1 3,482
759 3. 265
1, 648 6, 653
5
6, 614 25, 014 1 67 748 , 83, 330 i So, 347 , 33 2, 334 | 38 2, 334
61
196
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheds, 194^, by total afisets classes, and
come: ^ Number of returns, selected assets and linbilittes, selected receipts, compiled
other than oxon stock; also, for returns with net incoxne, the total tax — Continued
[Total assets classes and money
Total assets
classes ""
Num-
ber
of re-
turns
with
balance
sheets «>
Cash "
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments ='
Capital
assets *3
(less re-
serves)
Total
assets-
total lia-
bilities "
Accounts
and notes
payable ^2
TRADE NOT ALLOCABLE-
1
4,701
2,080
1,894
716
355
197
10
10
11, 468
12, 090
22, 349
16, 4S2
16, 177
24, 172
3,104
16, 904
34, 077
47, 217
93, 127
77, 594
75, 224
103, 804
21, 354
33, 005
38, 994
51, 107
101, 784
83, 995
84, 218
102, 815
24, 033
46, 967
2,405
4, 130
12, 393
14, 131
16, 738
36, 422
4,469
36, 345
20, 926
30, 800
60, 312
51, 915
50, 655
69, 921
13, 504
41,671
1 10, 378
148, 202
296, 200
249, 771
248, 340
346, 314
67, 092
177, 368
39, 291
45, 058
80, 516
64, 305
58, 342
87, 555
21, 953
21, 556
50 . .
100
250.
600
1,000
5,000
10,000
50,000
100,000
i
7,469
8,413
23, 914
111, 623
5,558
157, 432
11, 625
Total--.
9,964
130, 215
493, 816
557, 826
238, 656
345, 261
1, 801, 096
430, 201
TRADE NOT ALLOCABLE-
1
60
3,927
506
267
69
22
17
1
1
4,031
1,627
1,743
1,084
1,053
1,740
4?
17, 490
10, 830
10, 802
6.496
4,394
6,051
478
402
18, 391
9,198
9,699
4,570
3,702
11, 190
3
1,201
1,812
1, 375
3,117
2,529
1,242
7,843
4,717
2,886
16, 425
10,928
13, 006
8,153
4,110
12, 954
5
7,667
60, 474
35, 157
39, 745
23,622
14, 710
40, 219
5. 653
12, 305
30, 370
12, 404
13, 191
6,105
5.031
10, 765
136
269
100
250
600_-
1,000
5,000
10,000
50,000
100,000
Total-..
4,810
11, 331
56, 943
57, 954
25, 621
73, 219
231, 886
78, 269
TOTAL SERVICE— RETURNS
1
10, 889
2, 576
2,163
786
444
364
21
14
2
3
28, 618
19, 403
30, 730
22, 117
29, 106
65, 255
5,284
25, 545
7,587
12, 425
40, 001
29,489
43, 339
33, 179
34, 510
73, 286
11,920
25, 076
1,321
16, 087
12, 851
10, 608
15,117
10,318
9,966
18, 618
10, 332
25, 157
21, 468
75, 161
8,340
9,471
21, 591
21,429
24, 545
96, 834
14,813
37, 141
32, 347
243, 667
94. 820
105, 183
209, 528
171,437
199. 422
477, 042
90, 346
128, 433
64, 495
33, 759
194. 969
182, 700
334, 233
268, 832
308, 495
757, 349
134, 549
246, 026
130, 404
390, 612
56, 324
38, 337
60, 245
40, 717
42,815
72, 540
20, 276
20, 435
8,601
13, 290
50
100 . .-
250
500
1,000
5,000
10,000 . - .
50,000
100,000
Total...
17, 262
246, 072
308, 209
209, 596
510, 180
1, 574, 464
2, 948, 169
373, 682
TOTAL SERVICE— RETURNS
1 .
12,944
1,321
959
320
240
218
22
10
12, 620
4, 869
7, 063
5,788
6,568
20, 462
5,202
4,273
27, 106
10, 509
14, 032
8, 043
10, 892
27, 751
8.753
5,088
9,200
3,577
4, 666
2,532
2,810
10, 094
8,783
12,591
6,808
5, 485
8,285
8,232
13,442
31,985
6, 664
20, 472
91,049
62, 490
107, 643
83, 666
125, 606
339, 607
113,462
107, 534
157, 294
92, OSC)
149, 285
113,281
160,429
440, 1.39
146, 368
153,077
83, 621
27, 302
36, 353
21,458
29, 050
57, 842
12, 759
14, 784
50... -
100
2.50
500
1,000 -
5,000
10,000
50,000
100,000 -
Total...
16, 034
66, 846
112. 2,33
54, 153
' 101,273
1,031,016
1,417,929
282, 069
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
197
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable 53
Capital
stock 54
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales 1*
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
7,475
50, 534 •
7,056
389, 861
393, 785
9,861
9,853
2,115
1,536
10, 607
60, 820
23, 954
427, 195
432, 312
13, 695
13, 683
3,521
2,255
20, 253
110,244
69, 596
750, 842
761, 434
27, 744
27, 733
8,667
4,585
16, 703
90, 248
63, 131
616, 346
624, 164
25, 429
25, 414
9,418
4,341
16, 726
86, 134
71,873
540, 665
549, 751
27,112
27, 008
10, 686
5,366
19, 131
115,418
102, 074
741, 197
751, 202
39. 504
39, 417
16, 391
7,901
666
15, 129
26, 030
93, 881
95, 226
5,687
5,663
2,145
! 1,612
8,810
68, 108
68, 523
234, 924
239, 788
13, 912
•
13, 908
4,942
I 6, 443
10, 000
124, 345
119, 103
137, 293
31, 328
31, 328
9,712
30,000
100, 371
606, 636
556, 583
3,914,015
3, 984, 954
194, 273
194, 006
67, 597
64, 040
RETURNS WITH NO NET INCOME
8,671
4,112
6,041
2,636
1,708
6,237
8,742
3,639
38, 595
18, 908
20, 525
11,040
4,797
14, 171
250
50
57 21, 304
5- 1,952
6" 1, 775
2,707
1,888
7,465
5' 3, 525
8,257
187, 540
85, 106
71,311
33, 685
23, 756
34, 192
1,591
5,195
189, 244
86, 121
72,412
34, 366
24, 207
34, 957
1,642
5,433
38 5, 639
38 1, 887
38 1.991
38 851
38 313
38 1, 978
38 226
38 322
38 5, 640
38 1, 888
38 1,991
38 855
38 314
38 1, 979
38 226
38 322
260
20
40
75
20
98
41, 687
108, 337
5' 8, 240
442, 377
448, 382
38 13, 207 38 13, 214
512
WITH NET INCOME
24, 481
94, 839
2,494
521, 869
542, 123
27, 534
27, 505
5,876
7,529
35, 434
71,221
25, 165
311, 476
324, 998
19, 908
19, 879
4,969
5,247
65, 242
127, 078
57,019
448, 352
464, 098
32, 626
32, 584
9,250
10, 265
57, 155
91, 493
60, 460
297, 767
306, 152
25, 872
25, 848
8,268
8,869
81, 632
97, 709
61, 939
296, 484
304, 927
28, 462
28, 449
9,617
10, 404
210,457
240, 281
182, 328
577, 618
601, 322
68, 424
68, 379
23, 230
28, 901
32, 253
43, 069
35, 614
59, 804
64, 063
6,587
6,584
1,970
1,834
67, 653
85, 857
55, 612
177, 183
188, 070 -
18, 939
IS, 917
6,231
7,836
21, 810
20, 435
76, 457
65, 495
69, 318
6,985
6,985
1,634
4,541
58, 589
98, 966
215, 349
150, 901
170, 260
19, 530
19, 333
3,162
9,540
654, 705
970, 947
772, 438
2, 906, 949
3, 035, 333
254, 866
254, 463
74, 206
94, 966
WITH NO NET INCOME
43, 563
27, 978
51, 170
45, 073
74, 055
223, 195
92, 903
94.219
102, 900
44, 777
60, 594
40, 558
51, 909
135,677
38, 535
19, 522
6' 92, 890
5' 16, 135
6' 13, 614
6' 2, 948
57 5, 065
57 29, 518
6' 13, 576
15, 555
336, 755
90, 252
99, 599
64, 500
68. 800
151,377
52. 776
78, 945
356, 648
96, 363
107, 238
66, .584
71, 184
158, 550
54, 868
82, 522
38 21, 286
38 4, 741
38 7, 034
38 4, 868
38 6, 588
38 13. 706
38 5, 159
33 2, 747
38 21, 304
38 4, 745
38 7, 040 ■
38 4, 882
38 6, 595
38 13,873
38 5, 162
38 2, 747
519
.
93
77
121
155
206
176
499
652, 156
494, 471
57 158, 191
943, 005
993, 956
38 66, 128
38 66, 347
1,845
198
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: * Numher oj retiirns, selected assets and liabilities, selected receipts, compiled
other than own stock: also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes *"
Num-
ber
of re-
turns
with
balance
sheets ■">
Cash <i
Notes and
accoiuits
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets <3
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable '^
SERVICE: HOTELS AND OTHER LODGING
1
50 -
700
331
407
205
151
132
7
2
2,047
2,009
3,960
3.476
4,961
11,396
1,635
408
1,748
1, 564
2,805
2,961
2.733
6.491
888
3,807
735
987
1,733
1, 557
2,049
4. 856
593
249
.531
552
1,733
1,917
4,122
22, 245
1,081
5,673
9.811
17,818
52, 258
58, 727
92, 288
235, 936
33, 685
28, 489
16, 082
24, 297
64, 929
70, 484
109. 3.54
287,417
38, 587
38, 735
5,418
4,695
7,819
8,704
6,411
10, 451
1,856
5,783
100
250
500
1,000.
5.000
10,000
50 000
100 000
Total...
2,025
29,891
22, 985
12, 759
37, 754
529, 012
649, 885
51,137
SERVICE: HOTELS AND OTHER LODGING
1
50
100
250
500
1,000
1,232
312
299
144
133
141
16
7
1,284
842
1,616
1.684
2.551
9.160
3,983
2,960
1.377
905
2,155
952
1. 370
7,859
893
2. 262
607
488
871
561
1,044
3.732
1,395
1,640
839
368
1,278
833
1,601
10, 425
4,607
4,587
16, 266
18, 806
40, 955
46, 119
85, 069
258, 731
92, 043
95, 270
22, 162
22, 449
48,319
51,592
93, 454
294,463
105, 569
108, 742
11,055
5,589
8,223
9,051
8,668
29, 966
4,794
1,555
5,000
10,000
50 000
100,000
Total...
2,284
24, 080
17, 772
10, 339
24, 638
653, 260
746, 750
78, 901
SERVICE: PERSONAL SERVICE—
1
2.488
802
620
167
68
31
1
4,639
3,716
5,588
3,168
1,924
3,033
250
9,770
8,291
11, 608
6, 588
3, 239
3,424
321
4,497
4,070
7,501
4, 047
2, 553
4, 052
1,815
1,376
2,283
5.696
5,172
4,259
5,839
481
29, 466
36, 001
59. 114
34. 309
23, 489
33, 697
3,776
51, 749
66, 571
93, 61 1
66, 276
36, 742
51,342
6,742
14, 223
11,789
14, 122
7,249
4,326
7,004
421
50
100
250...
500
1,000 .-. .
5,000 . .
10 000
50 000
100,000
Total...
4,167
22,318
43. 141
29, 135
25, 105
219, 850
353, 033
69, 134
SERVICE: PERSONAL SERVICE—
1
.50
100..
260
500..
1,000
3,003
282
1.50
33
8
7
1
1,985
620
675
496
206
259
197
7,285
2,588
2.799
1.309
373
1, 0.57
331
3, 056
1,303
1,443
533
196
250
1,564
1,017
7.55
937
1,016
1, 097
4, 863
377
24, 161
12,826
15, 279
7, 063
2,718
5,972
3,636
39, 409
18,940
22, 414
10, 943
4,807
12,637
6, 159
16,098
5, 758
5,412
1,686
879
1,194
196
5,000
10 OCX)
.50,000
100 000
Totai...
3,484
4,439
15, 743
8,335
10, 063
71,655
115,309
31,223
For footnotes, see pp. 234-2.36.
STATISTICS OF INCOME FOR 1941, PART 2
199
by major industrial groups,^ for returns with net income and returns ivith no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figfures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock "
Surplus
and
undivided
profits '5
Oess
deficit)"
Gross
sales 's
and gross
receipts
from
opera-
tions '"
Total
compiled
receipts -
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax«6
PLACES— RETURNS WITH NET INCOME
3, 466
7,826
6' 2, 081
38, 280
44,972
2,015
2,014
430
445
7, 034
10, 052
614
32, 713
38, 217
1.704
1,704
382
366
20, 381
25, 429
6,638
55, 388
61, 063
3.620
3,618
897
1,106
24, 736
26, 918
6,287
48, 772
50, 107
3.844
3,842
1,085
971
51, 802
33, 416
12, 986
57, 290
59, 482
4,441
4,440
1,237
1,151
128, 355
81, 390
57, 050
104, 852
109, 873
9,172
9.170
2,698
2,490
1 16, 008
8,567
11, 165
14, 580
15. 393
1,395
1,395
497
57
18, 865
9,500
3,833
7,694
8,918
466
465
27
90
270, 646
203, 098
96, 493
359, 570
388, 025
26, 659
26, 648
7,253
6,676
PLACES— RETURNS WITH NO NET INCOME
1
8, 605
9, 934
20. 809
28, 404
54, 325
188, 401
81, 789
66, 757
13. 726
10,047
19, 218
57 14, 845
67 5. 303
67 8. 997
32, 902 42, 599 38 3, 191
16,822 20,095 33942
24,816 1 28,664 38 2,204
23,285 23.903 : 38 2,759
31,805 1 32,665 ! 38 2,355
90,904 94,632 , 3*8,500
29,031 1 30,613 1 383,482
34,273 36,772 38 2,496
3* 3. 199
36 942
38 2. 204
3* 2, 759
38 2, 355
246
10
39
16,226 1- 57 6,335
26.616 ! 574. .567
41
81, 577
21, 947
57 44, 447
57 17, 194
3* 8, 540
38 3, 482
39 2,496
39
6,066
27, 687
486
1
i
1
1
459, 023
195, 424 57 74. 102
283,837 1 309,943 38 25.928
39 25, 977
861
■
' 1
RETURNS WITH NET INCOME
6,438
7,822
12, 729
6,625
4,015
6,574
27, 649
23,978
37, 336
20, 965
13, 705
26, 973
2,530
43
10, 096
24, 060
18, 403
12. 016
7,629
3,206
126, 604
92, 997
142, 839
69, 616
42, 131
43,200
8,350
127, 575
94, 073
144. 829
70. 530
42, 808
43. 889
8,391
4,516
4,446
7,781
4,265
2,642
3.754
1,410
4,504
4,435
7,771
4,257
2,638
3,747
1,410
873
970
2.062
1,299
848
1,260
382
608
875
1,817
1.119
729
1,712
479
"" 1
44, 201 ] 153, 135 1 75, 452 525, 736 j 532, 095 | 28, 813 28, 762
7,695
7,339
RETURNS WITH NO NET INCOME
9,060
4,552
5,642
2,311
1,643
2,341
1,055
25, 377
9,616
11,191
5,059
3,060
6,487
2,224
57 15, 366
57 2, 568
57 1, 130
1,452
67 1,111
2,207
2,483
85, 773
26, 672
26, 711
10. 028
86, 650
26, 930
27,042
10.126
39 3, 352
3*974
3*739
3*624
3*406
39 2,171
38 159
3* .3, 353
3*974
3*740
3*624
39 407
39 2, 171
3*160
63
5
8
32
5,511 1 .n 5fifi
6,301
7,557
6,485
7,588
128
26
1
1
------
26,605 1 63.012
57 14,033
168,552
170,387 1 36 8. 42.>; : 36 s. 428
253
'
200
STATISTICS OF IX(30ME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 19Jfl, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balance
sheets *"
Cash«
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets <3
(less re-
serves)
Total
assets —
total lia-
bilities *'
Accounts
and notes
payable ^2
SERVICE: BUSINESS SERVICE-
1
2, 266 7, 151
380 4, 785
319 9, 265
121 6, 288
83 11,619
63 23, 697
2 50
6 16, 956
11,017
8,639
14, 755
11,560
19,660
34, 983
1,676
8,213
1,411
1,295
1,825
1,725
1,610
5,224
2,502
2,382
6,099
6,281
6,528
32, 262
5,446
10, 686
10, 483
8,398
15, 201
12,850
15, 213
37, 808
6,604
34, 706
34, 713
26, 910
49, 708
41, 354
57, 169
144, 299
13, 685
74, 967
10, 391
7,927
11, 219
10, 708
14, 437
26, 193
460
8,000
60
100
250
500
1,000
5,000
10,000
2.742
50,000
1
100,000
! i 1 i 1
: 1 1
Total.--
3,239 79,702
110,502 1 15,832
72, 185
141, 163
442, 805
89, 336
SERVICE: BUSINESS SERVICE-
1
2,464
3,119
7,483
3,061
4,104
2,903
4, 957
9,104
82
1,070
519
444
222
296
2,674
1,725
1,210
1,927
1, 715
3,633
6,453
46
9,308
4,479
4,526
4,976
6, 188"
8,056
5,785
24, 432
11.237
14,295
12, 274
17, 668
33, 828
6,035
13, 035
4,537
6, 373
3,309
10, 581
10,029
116
■56
100
260
500
1,000
161
96
34
24
19
1
1,162
1,736
1,743
1,608
6,401
(U)
5,000
10,000
60,000
100,000
Total...
2,799
16, 770
31, 686
6,126
15, 709
42, 316
119,668
47, 979
SERVICE: AUTOMOTIVE REPAIR SERVICES AND
1
1,139
124
99
30
12
4
2,073
606
9n
283
276
434
4,202
1,444
2,071
627
787
640
2,292
1.077
1,243
247
240
244
520
. 266
428
234
250
266
6,968
4,899
10, 463
9,008
6,688
4,324
16, 971
8,622
16,627
10, 693
8,431
6,172
5,793
2, 215
2.642
1, 520
958
739
60
100
250
500
1,000
6,000
10,000
50,000
100,000..
t
Total...
1,408 4,585 i 9,772 i 5,343*
1 1
1, 953 42, 350
66,316 j 13,867
SERVICE: AUTOMOTIVE REPAIR SERVICES AND
1
50-
100
1,447
89
81
20
5
7
1, 107
112
211
136
22
128
3, 630
617
377
338
43
234
1, 546
253
317
364
27
59
719
629
161
93
6,699
4,622
11,721
6,748
3, 163
10, 366
14, 746
6,288
13, 063
6,833
3,345
11,142
7,391
1,416
1,897
1,228
110
1,752
250
500
1,000.
269
5,000
10,000
50,000 ....
100,000
Total...
1,649
1,716
5,238
2,568
1,861
42, 198
55,407
13, 793
•
For footnotes, sec pp. 231-2.36.
STATISTICS OF INCOME FOR 1941, PART 2
201
hy major industrial groups,^ for returns with net income and returns with no net in-
7t,€t profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgases
payable 53
Capital
stock 5^
Surplus
and
undivided
IJroflts 55
(less
deficit)"
Gros.s
sales "^
and gross
receipts
from
opera-
tions 1'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
2,281
16, 961
1,842
98, 6Q1
101, 790
4,957
4,946
1,050
1,294
8,374
9,698
57 1,210
57, 135
58, 732
3,181
3,177
814
817
3,045
18, 250
12,352
97, 081
99, 134
5,877
5.862
1,669
2,340
' 3, 581
11,951
10. 807
79, 496
80, 444
4,911
4,907
1,627
1,807
2.905
17, 238
15, 547
94, 227 •
95, 281
5, 986
5,984
1.954
2,522
12, 263
43, 427
46, 268
147, 489
151,860
20,509
2U, 490
7,032
10, 196
1,619
5,103
6,481
624
1,254
519
519
71
143
16
37, 673
17,544
83, 998
89,313
7,602
7,594
2,604
4,566
34, 084
160, 299
109, 631
658, 652
677, 807
53, 542
. 53. 479
16,821
23, 685
RETURNS WITH NO NET INCOME
3, 590
1,885
2,700
1,427
1,548
6,939
14
17,339
6,501
5,661
4,679
6,638
6, 340
5,000
57 12, 357
57 2, 739
57 1.413
2.191
57 3, 061
6,018
467
54,311
12.217
16, 834
15, 178
11,337
27, 123
(H)
56, 284
38 3. 407
3« 3. 408
38 578
23
12, 587 ' 38 570
, 1
18, 182
15,289
11,777
27, 338
(14)
38 958
3! 311
38 1,614
38 728
38 1
=8 958
38 311
38 1,616
38 739
38 1
4
14
100
4
!
18, 109
52, 158
5' 10, 895
137, 001
141,458
38 7, 594
38 7,611
146
GARAGES— RETURNS WITH NET INCOME
2,390
2,047
3,461
4,318
2,817
1,617
7,567
3,133
5,123
2,751
3,482
1,644
57 467
737
3,537
1,528
797
1,722
50, 967
11,871
19, 682
5,436
5,357
6,813
52, 845
12, 952
20, 726
5,767
5,453
6,938
1,720
590
1, 115
338
493
879
1,720
590
1,115
338
493
877
339
139
317
74
259
468
193
69
189
85
86
91
16, 649
23, 700
7,854
100, 125
104,081 5,136
5,132
1,597
713
GARAGES— RETURNS WITH NO NET INCOME
5,502
3.334
7,270
3,022
3 095
6,226
8,967
1,949
3,716-
2, 631
729
2,265
57 9, 457
57 960
57 511
57 352
57 1,075
622
39, 945
5,197
3,663
1,952
541
1,454
42, 607
5,482
3.984
2,007
585
1,583
38 1.371
38 154
38 227
38 108
38 63
38 gg
38 1,371
38 154
6
38 227
38 108
38 03
38 98
6
1
g
28, 449
20, 257
57 11, 733
52, 751
56, 249
38 2, 021
38 2, 021
21
202
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns ivith balance sheets, 1941, by total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes "
Num-
ber
of re-
turns
with
balance
sheets *"
Cash «
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities «
Accounts
and notes
payable *"
SERVICE: MISCELLANEOUS REPAIR SERVICES,
1
676
114
51
10
3
1
1
1,532
923
881
406
318
177
574
3, 726
2,255
2,082
1, 582
492
34
651
2,176
2,026
1,305
411
357
155
222
219
237
594
65
210
6
3,782
2,439
2,263
964
322
1,159
4,102
11, 775
8,073
7,273
3,435
1,752
1,577
5,563
3,112
2,153
1,541
642
296
19
308
50
100
250 -
500
1,000
5,000
10.000
50,000
100 000
Total...
856
4,810
10,823
6,651
1,331
15, 032
39,448
8,072
SERVICE: MISCELLANEOUS REPAIR SERVICES,
1
536
17
3
416
49
26
1,377
247
31
1,007
264
20
121
5
2,268
586
245
5,400
1,230
337
2,240
335
70
50
100
250
500
1
(14)
(14)
5
504
509
11
1,000
5 000
10 000
50 000
100 000
Total...
557
491
1,655
1,296
127
3,604
7,476
2,656
SERVICE: MOTION PICTURES—
1
50
100
250
1,358
428
336
136
77
74
6
7
2
3
5,685
4,298
4,726
4,390
4,156
10, 813
1,318
8,181
7,587
12, 425
4,000
3,654
4,283
4,225
3,911
13,116
147
13, 056
1,321
16, 087
370
234
447
852
2,668
2,952
6,593
22, 165
21, 468
75, 161
1,433
1,880
3,373
4,177
4,406
16, 702
998
20, 882
32, 347
243, 667
15, 090
18, 205
36, 196
30, 876
37, 781
108, 200
28, 652
65, 238
64, 495
33, 759
28, 594
29, 983
51, 466
46, 520
54, 845
157,528
38, 360
132, 324
130, 404
390, 612
8,069
5,224
15,133
7,874
11, 196
18,410
13, 798
6,652
8,601
13, 290
500
1,000
5,000. -..
10,000 _
50,000
100,000
Total...
2,427
63, 579
63, 802
132, 909
329, 864
438, 492
1, 060, 636
108, 249
SERVICE: MOTION PICTURES-
1
1, 185
151
115
25
22
13
3
1
1,649
636
1,020
371
737
909
1,005
1,257
1,755
1,021
1,747
650
1,313
3,655
6,910
727
432
210
634
713
745
3,074
5,834
10, 858
838
460
1, 064
799
2,474
1,775
146
5,006
10, 641
7.152
11,903
5,679
7,426
16,319
7,826
2,812
16, 936
10,336
17, 557
8, 762
14, 080
27, 045
22, 393
21,728
10, 745
3,896
6,641
2,848
3,694
9,358
5, 940
1,827
50
100
250
500 -.
1 000
5 000
10,000
100,000
Total...
1,515
7,584
17, 779
22, 499
12, 562
69, 758
138, 837
44,949
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
203
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable 53
Capital
stock 5*
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales >*
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
HAND TRADES— RETURNS WITH NET INCOME
1,077
487
332
168
25
6,295
2,945
2,146
706
342
977
1,250
273
1,827
2,489
1,524
796
471
277
30, 277
16, 804
13, 763
6,788
4,373
1,024
8,548
30,521
16, 993
13, 884
6,808
4,394
1,058
8,553
1,616
1,234
1,617
789
609
267
393
1,616
1,234
1,616
789
609
267
393
392
383
693
410
298
83
148
79
127
289
16
115
170
3,500
t
5,689
14, 661
7,657
81, 578
82,211
6,525
6,523
2,407
797
HAND TRADES— RETURNS WITH NO NET INCOME
1
823 ! 4,223
123 1 786
24 ' 30
67 2, 390
57 66
11,053
1,017
11,130
1,035
293
3S431
38 53
38 2
38 431
38 53
38 2
1
213 1 293
-_.: 497
57 14 10
10
38 2
38 2
- .J
--
970 1 5,536
1
57 2, 257
12, 373
12,469
38 488 38 488
1
RETURNS WITH NET INCOME
3,701
10, 556
3,662
93, 510
97, 957
7,245
7,244
1,624
3,510
4,999 :
8,176
9,245
55, 927
58, 443
5,828
5,818
1,538
2,540
15,566
18. 020
57 2, 440
68, 375
71,389
7,703
7,700
2,165
3,100
9,689 i
12, 296
13, 535
47, 457
51,025
7,099
7,098
2,078
3,075
13,125
12, 663
15, 610
46, 437
49,860
7,251
7,250
2,104
3.655
6.3,910
35, 866
42, 242
196, 078
206, 709
19, 605
19, 599
5,896
10, 095
10,344 i
9,378
4,404
16,012
17, 178
1,602
1, 602
370
816
48,772
38, 683
34, 236
85, 491
89,839
10, 871
10,858
3,600
3,180
' 21,810 i
20, 435
76, 457
65, 495
69, 318
6,985
6,985
1,634
4,541
58,589 !
98, 966
215, 349
150, 901
170, 260
19, 530
19, 333
3,162
9,540
240,506 1
265, 040
412, 300
825, 683
881, 979
93, 719
93,489
24, 172
44,052
RETURNS WITH NO NET INCOME
5,527
3.214
5,713
4,014
.5, 416
6,488
7,786
27, 462
7,829
4,040
5, 754
2,521
3,507
12, 526
7,864
2,428
57 9, 838
57 1, 480
57 1, 635
57 1,462
590
57 3,015
108
57 12, 098
56, 242
13,018
14, 131
4.010
11,279
15,563
14, 991
29, 645
57, 974
13.771
14, 954
4,247
11,811
17,007
15, 387
30,009
38 3, 487
38 635
38 1, 359
38 433
38 667
38 1,114
38 1,009
38 250
38 3, 494
38 635
38 1, 360
38 433
38 667
38 1, 114
38 1,010
38 250
31
57
4
46
4
150
65,620
46,469
57 28, 829
158, 880
165, 169
38 8, 953
38 8,963
292
204
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns loith balance sheets, 1941, by total assets classes, and
come:^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns icith net income, the total tax — Continued
[Total assets classes and money
Total assets
classes 5°
Num-
ber
of re-
turns
with
balance
sheets *°
Cash "
! Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities <5
Accounts
and notes
payable ss
SERVICE: AMUSEMENT
, EXCEPT
MOTION
1
1,176
198
161
58
31
41
2
2,724
1,068
2,407
1,662
3,934
9,666
1,243
1,653
958
1,460
1,410
1,031
5,843
5,901
511
304
407
225
63
424
328
721
660
1,196
1,445
1,794
9,949
2,273
12, 998
10,219
18,761
14, 442
13, 227
49, 947
7,179
19,663
13, 980
24, 989
19,616
20, 771
77, 321
17, 041
1
5, 655
2,512
4.579
2,033 ]
3,603 ,
6.113
3,314
50
100
250
500
1,000
5,000
10,000
50,000
100,000
Total...
1,667
22, 703
18, 255
2,262
18, 037
126, 773
193, 381
27, 807
SERVICE: AMUSEMENT, EXCEPT MOTION
1
1,525
152
105
27
25
13
1
1,198
423
687
, 314
292
1,108
16
1,007
522
626
160
443
1.099
536
425
195
344
70
61
69
569
461
916
822
897
942
1,388
13, 169
8,637
12, 949
8,075
14, 620
16,874
4,171
17, 399
10, 730
16, 513
9,812
16, 705
20, 754
6,212
15, 082
3,462
3.374
1,408
3, 880
2,891
1,714
50
100
250
500
1,000
5,000
10,000
50,000
100,000
Total...
1,848
4,039
4.393
1,164
5,995
78, 495
98, 124
31,810
OTHER SERVICE, INCLUDING SCHOOLS—
1 ._
50 -.-.J
941
189
165
58
29
17
2
2,573
1,934
2,011
2, 302
2,018
5, 900
214
3,680
2,481
4,116
4,002
2, 658
8,735
2,337
753
505
636
645
426
711
781
1,003
1,218
2,356
2,133
2,977
9,558
4,536
5,872
7,014
15. 091
10, 223
10,413
4,966
6,448
14.515
13, 663
25,991
20, 112
19, 431
30, 512
14, 573
3.451
1,730
2,757
1,960
1.58S
3,578
119
100
250
.WO
1,000
5,000
10 000
50,000
100,000
i
Total...
1,401
17, 851
28,008
4,457
23, 780
60,027
138, 797
15, 183
OTHER SERVICE, INCLUDING SCHOOLS—
1
1,484
151
107
36
22
17
1,821
987
1,088
934
1,153
2,497
3,044
1,495
2,190
1,727
2,392
3, 992
927
342
493
69
435
335
932
1,563
1,837
2.758
3,740
7, 666
8, 230
5, 274
9. 757
6. 003
6,827
23, 360
16, 081
10. 436
16, 303
12,746
15,972
38, 902
7,504
2,127
3,359
1,927
1,228
2,288
.50
100
260
.500
1,00(1
5 000
10,000
50 000
2
56
2,100
93
10, 878
9,452
22,607
11,402
100,000
1
1
Total...
1,819
8,537
16, 939
2,694
29, 374
68, 903
133, 047
29,834
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
205
hy major industrial groups,^ for returns with net incomes and returns iiyith no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock 5<
Surplus
and
undivided
profits w
(less
deficit)"
Gross
sales '6
and gross
receipts
from
opera-
tions '7
Total
compiled
receipts *
Compiled
net profit
or net loss
Ket in-
come or
deficit 3
Total
tax 56
Divi-
dends
paid ^
PICTURES— RETURNS WITH NET INCOME
3,515
3,288
6,453
4,586
5,340
7,524
500
10,051
5,875
9.636
9,172
10, 671
38, 209
6,134
57 1, 116
1,320
2,941
2,145
57 3, 290
15, 355
6,600
45, 667
20, 578
24, 215
17,216
22, 997
58, 415
4,014
47, 413
21, 397
25, 240
17,824
23, 582
60,870
5,155
3,139
1,331
2,638
2, 222
4,583
10, 539
224
3,139
1,330
2,637
2,222
4,582
10, 537
224
654
317
795
738
1,858
4,374
62
831
220
865
1,121
1,475
3,367
"
31, 207
89, 748
23, 954
193, 101
201, 483
24, 676
24, 671
8,799
7,878
PICTURES— RETURNS WITH NO NET INCOME
6,522
3.087
.5, 490
4,081
6,447
5,228
2,259
11,509
5,680
7,599
4,041
4,500
5,389
1,500
" 17, 527
67 2. 289
37 932
57 365
57 536
6,983
561
30, 093
7,444
5,273
2.448
3,265
4,348
1,197
31.415
8,094
5,646
2, 516
3.534
4,545
1,279
38 3, 408
38 858
38 912
38 189
38 494
38 701
38 508
38 3, 408
38 858
38 912
38 194
38 494
38 702
38 508
85
5
4
4
19
33, 113
40, 218
57 14, 106
54,068
57, 029
38 7, 069
38 7,075
118
RETURNS WITH NET INCOME
1,497
7,407
404
35, 264
36, 313
2,152
2,151
467
525
1,319
6,891
2,664
21, 618
22,349
1,510
1,507
404
233
3, 249
10, 990
7,336
26, 361
27, 176
2,213
2,203
641
559
3,453
6,565
6,032
21, 798
22. 421
2,336
2,328
936
603
1,604
6,192
7,478
23,671
24. 066
2,458
2,453
1,059
671
213
10, 796
11, 539
18, 845
19,212
3,622
3,614
1,394
719
282
10, 107
3,481
7,676
8,139
1,045
1,042
440
338
11, 617
58, 947
38, 934
155, 234
159, 676
15, 336
15. 298
5,340
3,648
RETURNS WITH NO NET INCOME
3.828
1,833
3,395
1,815
1,581
7,572
13, 506
5,913
6,771
5,302
6, .361
19, 892
57 10, 838
57 684
1,080
1.709
4.710
2,310
25, 210
7,399
7,845'
7,341
5,053
5,683
26, 730
7,879
8,436
8,233
5,238
6,960
38 2, 548
38 539
38 624
38 440
38 987
38 391
38 2, 549
38 541
38 028
38 448
38 991
38 507
62
14
13
33
4
4
11,028
66
15, 027
15. 742
38 2
38 2
13
20, 024
68, 772
67 1, 647
73, 568
79, 218
38 5, 532
38 5, 666
143
58U783 — 44-
-14
206
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: * Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes '"
Num-
ber
of re-
turns
with
balance
sheets *'>
Cash »
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 0'
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities <5
Accounts
and notes
payable ^2
SERVICE NOT ALLOCABLE-
1
65
10
6
1
194
65
91
143
204
204
259
235
107
110
36
6
117
6
351
189
182
37
906
601
738
442
213
94
432
27
50
100
250
500
1,000
1
140
20
7
i,605
1,182
33
6,000
10,000
50,000
100,000
Total...
72
633
921
247
170
1,764
3,868
798
SERVICE NOT ALLOCABLE-
1
68
6
3
1
41
36
5
110
149
124
4
4
130
3
48
33
176
196
307
207
310
3
730
410
495
318
370
183
6
50
100
250
500
1 000
1
749
601
(.4)
1, 369
364
5 000
10 000
50000
100 000
Total.. -
79
192
1,029
133
1,064
827
3,321
923
TOTAL FINANCE, INSURANCE, REAL ESTATE, AND LESSORS
1 .
19, 575
8,949
11, 169
6,820
5,210
6,081
950
764
132
141
39, 617
37, 392
145. 326
377, 982
788, 304
2, 786, 343
1,452,021
3, 573, 355
1, 946, 201
14, 504, 761
75, 283
96, 007
332, 798
608, 964
1, 077, 666
3, 386, 363
1, 542, 082
3. 459, 648
1, 662, 939
11,733,407
4,952
6,697
13, 652
2,776
2,452
3,789
750
6,612
674
15, 739 ■
41, 468
61, 304
242, 773
483, 684
904, 603
4, 632, 231
2, 687, 088
7, 392, 943
4, 649, 687
31, 842, 649
257, 222
425, 540
1,027,146
927, 645
870, 480
1, 883, 010
832, 053
1, 259, 307
768, 266
1,112,857
432, 860
642, 315
1, 799, 081
2,431,626
3, 680, 565
12, 724, 636
6, 638, 868
15,937,153
9, 248, 878
59, 618, 236
94, 926
99, 328
238, 326
219, 442
214, 369
518, 269
264, 306
533, 810
252, 491
1, 361, 360
50
100 .
250 .
500 . .
1,000
5,000
10,000
50,000
100,000
Total...
59, 791
25, 661, 301
23, 966, 057
58,094
62, 838, 429
9, 363, 526
113, 164, 217
3, 786, 608
TOTAL FINANCE, INSURANCE, REAL ESTATE, AND LESSORS
1
29, 923
10, 206
9,732
4,340
2, 765
2,999
422
364
48
58
30, 741
22, 860
54, 251
94, 146
200, 604
840, 925
415, 983
1, 000, 800
418, 1H8
1. 704, 493
73, 301
68, 987
133, 925
164, 991
263, 386
981, 383
411,297
862, 192
376, 908
1,033,004
9,377
11, 158
18,815
1,829
1, ,106
3, 100
1,036
1,512
661
50, 936
64, 357
165, 655
263, 101
458, 684
2, 225, 668
1, 366, 282
4,280,241
2,043,413
31,181,271
418, 492
639, 673
1, 120, 631
977, 882
972, 407
2, 197, 359
686, 680
848, 435
356, 568
269,417
602, 556
725, 836
1, 629, 750
1,529,038
1,934,252
6, 362, 803
2, 918, 978
7,211,486
3, 349, 269
35, 084, 426
200, 204
134, 794
230, 592
184, 009
168, 143
414, 428
120, 766
205, 286
81, 626
167,218
50
100
250
500 .
1,000
5,000
10,000
50,000
100,000
Total...
60,856
4, 782, 992
4, 368, 374
48, 983
42, 089, 609
8, 376, 544
61, 248, 395
1, 897, 064
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
207
by major industrial groupa,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable ^a
Capital
stock i*
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales '8
and gross
receipts
from
opera-
tions 1^'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
115
64
26
527
474
148
169
57 65
57 128
105
199
2,698
1,833
649
1,189
2, 737
1,843
658
1,226
173
83
62
67
173
83
62
67
47
21
11
20
45
1
71
1.000
51
901
913
76
76
24
60
, 1
206
2,318
162
7,270
7,377
461
461
124
177
RETURNS WITH NO NET INCOME
107
17
121
425
246
653
100
57 272
5747
67 289
213
1,227
466
33
259
1,258
487
38 92
38 10
38 92
38 10
33 10
38 4
12
38 1 38 10
262
38 4
1,201
57i96
38 3
3S3
245 1 2.625
57591
1,986
2, 044
38 119
38 120
12
OF REAL PROPERTY— RETURNS WITH NET INCOME
112,784
246, 339
57 45, 916
129, 852
215,019
30, 170
30, 105
5,676
16, 682
208, 422
258, 294
43, 150
94. 735
179, 035
26, 575
26. 432
5, 485
11,478
571, 707
574, 741
171,623
169, 475
364, 845
63, 990
63, 272
12. 951
31, 134
525, 710
601.072
272, 996
143, 721
284, 862
63, 161
60, 198
12,290
32, 211
437. 302
769, 665
411,778
147,616
326, 982
86, 853
80, 183
16.619
46, 148
978 : 81
2, 255, 346
1, 795, 179
400, 175
950, 933
280,011
253, 038
47. 494
170, 466
417. -,S6
1, 091. 526
1,119,591
284. 508
554, 102
148, 060
135, 648
24,411
111,645
902, 787
2, 467, 894
2, 766, 754
763, 643
1, 354, 982
3.54, 456
328, 170
51, 720
2.^.8, 832
1, 047, 884
1, 581, 332
1, 310, 228
283, 592
642, 848
212, 036
196. 016
28,518
142, 903
2, 916, 027
9, 697, 379
6, 964, 144
535, 979
2, 130, 136
1,051,022
956, 256
109, 357
711,412
8, 119, 090
19, 543, 588
14, 809. 527
2, 953, 294
7, 003, 744
2, 316, 334
2, 129, 320
314. 522
1, £32, 913
OF REAL PROPERTY— RETURNS WITH NO NET INCOME
266, 531
364, 773
799, 406
728. 604
706, 738
1, 732, 959
575, 802
1, 053, 703
400, 049
986, 051
461, 72«
319. 629
578, 642
476, 290
560, 529
1. 625. 796
564, 734
927, 340
491,646
1. 182, 243
57 382, 294
57 146, 137
57 214, 925
57 124, 230
57 90, 478
57 195, 367
233, 564
810, 088
354, 246
2,461,110
96. 518
44, 680
82, 455
96, 026
97,313
237, 126
123, 482
248, 511
89, 441
18, 072
176, 393
108, 267
204, 660
136, 621
147, 243
390, 991
194, 496
440, 711
176, 891
1, 219, 043
38 55, 103
3* 26, 989
38 53, 756
38 41,082
38 56, 136
38 167. 291
38 66. 662
38 216, 952
38 59, 912
39 73, 513
38 55, 150
38 27, 060
38 54, 083
38 42, 116
38 59, 350
38 180, 605
38 73, 459
38 235 260
38 69, 211
38 155, 519
3,461
869
2, 365
5,074
4,066
16, 172
6,370
23,560
5,540
30, 593
7, 614, 616
7, 188, 577
2, 705, 577
1, 133, 625
-
3, 195, 347
38 817, 397
38 951,814
98, 070
208
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than oxen stock; also, for returns loith net income, the total tax — Continued
[Total assets classes and money
Total assets
classes so
Num-
ber
of re-
turns
with
balance
sheets «*
Cash <i
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 5'
Capital
assets *^
(less re-
serves)
Total
assets —
total lia-
bilities *5
Accounts
and notes
payable =2
TOTAL FINANCE— RETURNS
1
3, 556
1,477
3,176
3,484
3,625
4,778
741
617
109
129
10, 293
27, 237
451
541
2,225
1,340
1,446
1,744
301
4,300
16
15, 473
20, 103
31, 670
162, 363
362, 025
752, 435
3, 890, 890
2, 171, 774
5, 905, 144
4, 004, 093
30, 452, 544
8,069
9,625
29, 365
37,864
63, 463
240, 777
110, 556
261. 218
102. 433
840. 952
69, 084
106, 993
540, 855
1, 279, 098
2, 580, 828
10, 088, 336
5, 177, 372
12, 940, 675
7, 719, 602
57, 756, 266
16,354
21, 091
84, 113
98, 241
125, 582
354, 567
217, 088
464, 101
229, 930
1, 361, 186
50
12, 463 49, 652
99, 536 235, 509
100 .
2r)0
336, 741
744, 853
2, 650, 009
1, 337, 050
3, 310, 795
1, 854, 375
14, 416, 912
531, 151
1, 005. 022
3, 247, 314
1, 494. 520
3, 392, 005
1, 638, 275
11, 733, 351
500
1,000
6,000
10,006
50,000
100,000
Total...
21,692
24, 773, 028
23, 354, 035
27, 837
47, 753, 042
1, 704, 320
98, 259, 109
2, 972, 254
TOTAL FINANCE— RETURNS
1
4,912
1,289
1,438
1,033
1,086
1,619
256
233
27
29
10, 341
7,945
30, 755
72, 123
172, 920
762, 031
363, 815
872, 889
367, 219
976,219
28. 216
31, 927
68, 735
108, 989
210, 369
880, 947
381, 132
821, 903
332, 264
1, 033, 004
728
515
1, 636
470
686
628
260
1,185
81
22, 464
30, 005
84, 763
157, 771
336, 565
1, 715, 325
973. 723
2, 698, 948
1, 089, 555
4, 282, 326
16, 878
16, 889
34, 343
30, 719
49. 500
167, 304
42, 935
109, 871
53, 090
71,313
S3. 332
92, 088
230, 474
376, 904
783, 123
3, 567, 823
1, 774, 372
4, 589, 251
1, 853, 300
6, 397, 093
37, 427
23, 950
41, 944
42, 172
49, 179
166, .589
61, 397
163,911
35, 138
157,218
50
100
250
500
1.000
5,000
10,000
50.000
100,000
Total...
11, 922
3, 636, 257
3, 897, 485
6,189
11,391,444
592, 842
19, 747, 760
778, 924
FINANCE: BANKS AND TRUST COMPANIES—
1
223
116
1, 165
2,313
2,787
3,665
541
420
69
86
916
3,270
73, 495
309, 790
706, 158
2, 509, 645
1, 226, 634
3, 097, 980
1, 752, 171
13, 657, 012
657
3,494
80, 879
357, 549
799, 829
2, 685, 477
1, 162, 332
2, 624, 998
1, 276, 208
9,757,471
666
2,103
51,255
181,212
451, 872
2, 323, 402
1, 208, 734
2, 982, 782
1, 625, 513
16, 722, 371
837
552
5,812
12, 548
29. 777
1.35. 083
78. 300
156, 806
79, 314
450, 042
3, 236
9,639
216, 258
863, 802
1, 992, 440
7, 685, 678
3, 785, 822
8, 898, 441
4, 812, 153
40, 764, 915
50
100
250..;.--"
500
1 000
5 000
10 000
50,000
100,000
Total-..
11 391 'S SS7 079
18, 748, 893
25, 609, 910
949, 070
69, 032, 3S4
FINANCE: BANKS AND TRUST COMPANIES-
1 -..
so
422
118
331
518
683
1, 1.56
172
142
17
16
1, 305
1,483
16, 492
61, .586
1.56,116
712,801
336, 987
798, 973
.349,010
912,087
2,271
3, 124
17,268
63, 979
1.53, 719
714. 145
310,860
646, 288
279, 515
919,963
1,476
2,208
16, 844
.58, 849
171,878
1,024, .301
.504, 488
1, 140,014
436, 546
1, 159, 745
1.860
1, .336
4,380
.5, 701
12,018
66, 097
28, 300
74,206
28,947
46, 256
7,444
8, 634
56, 769
192, 714
497, 0.30
2, 530, 093
1.185,414
2, 705. 8.58
1, 098, 728
3, 049, 498
100
250
500
1 000
5 000
10 000
£0 000
100,0(X)
Total...
3,675
3, 34.5, 837
3,111,132
4, 516, 348
269,100 11.332.183
For fool notes, see pp. 234-2.36.
STATISTICS OF INCOME FOR 1941, PART 2
209
hy ynajor industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable ^3
Capital
stock =*
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales 18
and gross
receipts
from
opera-
tions 1'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 36
WITH NET INCOME
6,979
65, 520
5' 25, 727
28, 907
44, 484
8,488
8,452
1,284
7,969
9,467
56, 919
8,137
27, 739
41, 970
7,096
7,005
1,395
4,254
35, 825
180, 085
47, 529
66. 540
117, 102
25, 627
25, 026
4,295
15, 560
41, 570
245. 246
128. 225
31.934
103. 479
31, 062
28, 307
4.776
17,634
57, 221
402, 794
210, 075
39, 254
157, 183
51,084
44,759
7,309
28, 171
212, 544
1,417,561
1, 227, 259
88, 592
516, 726
198, 704
173, 745
25, 023
127, 030
162, 459
690. 818
702,690
60, 687
261, 325
105, 760
95, 251
14. 138
81, 891
364, 695
1, 950, 832
2,025,180
94, 163
545, 461
253, 463
231, 456
27, 767
183, 439
626, 398
1, 326, 688
975, 723
29, 069
316, 705
171, 099
157, 067
19. 661
116,078
2, 896, 804
9, 426, 501
6, 691, 328
370, 697
1, 872, 802
1. Oil, 430
918. 897
101, 166
681, 139
4, 413, 963
15, 762. 964
11, 990, 421
837, 581
3, 977, 236
1,863,812
1, 689, 965
206, 813
. 1, 263, 163
"WITH NO NET INCOME
25,
23,
31,
46,
73,
404.
168,
574,
83,
986,
152,
65,
155.
147,
208,
897,
301,
661.
432.
1, 105,
5' 147, 205
" 33, 947
5' 59. 286
5" 38, 985
f" 9, 752
5' 279, 913
159, 927
589, 931
307, 774
1, 306, 358
18. 153
9,503
30, 419
5,079
5,436
14. 933
4,610
20, 841
6,801
18, 072
27, 721
14, 942
41, 885
19, 413
31. 115
114.006
46. 553
136, 159
41, 309
133, 981
38 14, 567
38 7, 663
38 21, 204
38 10, 943
38 18, 559
38 93, 817
38 31, 688
58 84, 589
38 9, 053
38 41, 939
38 14, 593
38 7, 692
38 21, 443
38 11,839
38 21, 392
38 105, 171
38 36. 168
38 94, 379
38 11, 537
38 51,516
4, 127, 115
1, 794, 900
133, 847
607,085 i 38 333,923
38 375, 730
RETURNS WITH NET INCOME
3,
3,
26,
68,
120,
397,
181,
347,
153.
1,111,
138
099
792
373
185
236
685
013
486
5' 1, 410
376
14, 556
52, 630
117,012
480, 137
235, 004
531, 203
241, 143
2. 600, 253
454
224
1, 609
6,058
10, 909
35. 704
18. 635
43. 314
17, 673
118, 169
1,377
801
11, 974
39, 222
80. 656
273, 839
121, 675
253, 645
109, 405
792, 873
391
187
2,957
11, 239
22, 869
72, 494
29, 210
66, 777
32, 238
272, 606
2, 412, 795 , 4, 270, 903 I 252, 748
1, 685, 467
510, 968
372
170
2,548
8,740
17, 082
48, 804
19, 196
45, 788
19, 175
181, 127
343, 001
57
28
472
1.636
3.308
9,884
4,083
8.992
3, 206
19, 333
50, 998
RETURNS WITH NO NET INCOME
8.732
5.283
22, 597
25, 748
41,918
176, 324
72. 397
162. 547
57, 138
105, 190
6- 5. 094
5-965
5' 9. 170
8.249
21, 433
132, 601
71, 735
68,439
65, 876
175, 217
437
85
512
1.348
2.266
8.792
4,172
15, 375
6,481
11, 825
1,516
388
3,212
7.981
18. 355
82, 455
35, 182
79, 888
28. 696
67, 149
38 2, 790
38 734
38 1, 626
38 1, 591
38 1, 347
38 5, 654
38 2, 369
38 5, 947
38 2. 491
2.830
38 2. 793
38 739
38 1. 775
38 2. 391
38 3, 890
38 16, 140
38 6, 691
3' 15, 027
38 4, 974
38 6, 505
164
18
314
413
875
4,677
1,924
3,460
1,934
5,505
677, 874
528, 322
51, 292
324, 823
38 21, 720
38 60, 926
19, 283
210
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total asxefs classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than oum stock; also, for returns trith net income, the total tax — Continued
[Total assets classes and money
Total assets
classes ^
Num-
ber
of re-
turns
with
balance
sheets "
Cash »
Notes and
accounts
receivable
Gess re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable ^2
FINANCE: LONG-TERM CREDIT AGENCIES, MORTGAGE
1
653
177
184
81
50
37
2
1
1,140
996
2,208
2,248
2,118
5,306
1,034
2,795
2,976
4,239
9,660
12, 196
16, 117
24, 604
3,214
4,674
5,263
13, 129
12, 100
13,087
29, 544
5,122
17, 812
1,372
1,810
3,804
2,370
2,498
2,017
58
637
10, 831
12,608
29, 823
29, 784
34, 384
63, 239
12,015
21,244
2,096
1,802
7,026
6,418
10, 197
21, 114
4,582
60
100 .
250
500
1,000 -
6,000 -
10,000 --.
50,000 -. .
100,000
Total...
1,085
17, 846
73, 007
100, 730
14, 566
213, 929
53, 235
FINANCE: LONG-TERM CREDIT AGENCIES, MORTGAGE
1
1,017
247
191
76
44
47
7
5
1,516
954
1,883
1,593
2,808
6,188
6,924
8,975
4,889
3,890
7,594
7,834
6,403
19. 885
6,334
13, 695
6,433
5,964
8,692
11, 332
17, 676
52, 610
31, 795
93,402
6,167
5,749
8,257
4,514
4,901
15, 113
183
10, 379
18, 217
17, 874
28, 918
25, 987
32, 454
98, 948
45. 655
127, 730
8,536
4,189
5,542
6,992
7,692
21, 692
857
5,464
60
100
250 -
500 -
1,000
5,000
10,000
50,000
100,000. -.
Total...
1,634
30, 842
70, 426
226, 905
64, 263
395, 784
60,964
FINANCE: SHORT-TERM CREDIT AGENCIES, EXCEPT
1
50
100
918
550
845
442
240
211
39
2,513
2,920
8,955
9,777
14, 365
35, 826
33,071
14,831
31, 201
112, 208
128, 996
131, 945
3.37, 717
234, 400
486, 002
182, 493
1, 566, 572
241
376
1,489
787
1,278
377
99
67
16
651
1,755
3.177
9.795
8,646
13, 684
38,096
9,981
19, 721
15, 431
53, 821
660
1,077
3, 386
3. 195
2.812
4,701
1,816
1,934
887
1,320
20. 4,59
39, 574
137, 532
152, 887
166, 428
422, 225
281, 493
552, 781
215,015
1, 736, 794
5,173
10, 799
44, 7(i6
59, 254
72, 9.59
190, 997
157, 561
333, 207
117, 167
1, 227, 321
250 -
600 _
1,000
5,000
10,000
29
41.971
50,000
3 16, 034
5 111,535
100,000
Total...
3,282
276, 967
3, 226, 366
5,371
174,004
21, 789
3, 726, 187
2, 219, 203
FINANCE: SHORT-TERM CREDIT AGENCIES, EXCEPT
1 ,
so
100
250
600
1,000
899
241
194
46
20
8
2
1,978
1.398
2,994
1.074
1, 325
1,297
626
10, 9.37
12,883
■ 20, 947
11,724
9,867
12,748
6,461
370
181
714
06
107
1,277
1,201
2,614
2,441
2, .596
958
5,610
803
620
1,064
624
190
138
2
16, 066
16, 919
29,267
16, 330
14, 385
16,070
13, 669
4,880
5,315
8.222
6,639
3, 389
7,037
1
6,000 .
10,000
50,(KJ0
'
UM),000
Total...
1,410
10, 693
85, 568
1,438
16, 698
3, 439 122, 607
36, 483
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
211
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable ^3
Capital
stock 51
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales •*
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
COMPANIES, EXCEPT BANKS— RETURNS WITH NET INCOME
2,085
8,435
5" 2, 951
1, 413
2,114
388
387
74
227
2,313
7,192
605
839
1,605
403
402
85
175
4, 552
14, 217
1,6^8
1.418
3,231
729
724
135
270
5,019
10, 624
4,022
1,617
3, 506
725
712
143
403
6,882
8,899
4,934
1,799
3.900
744
691
164
123
15, 306
10,649
11,228
3,404
6,628
1,360
1,353
372
476
7,242
885
1,609
5-799
1,184
1.071
3,777
79
9"!
79
971
298
614
43, 399
62, 510
19, 881
10, 490
25, 832
5,400
5,320
1,271
2,288
COMPANIES EXCEPT BANKS— RETURNS WITH NO NET INCOME
15, 244
8,026
6,566
8,881
' 17, 746
41,024
35, 771
118,841
26, 750
9,989
18. 979
12, 285
18.298
19, 537
19, 017
6,343
57 34, 289
5- 6, 165
57 5, 931
0- 6, 950
57 15. 901
964
57 12, 302
57 10, 350
684
437
424
323
713
537
1,267
921
1,383
1.431
1,708
4,567
1,102
12,217
38 2. 155
38 1, 219
38 1, 703
38 779
38 1, 181
38 1, 970
38 2, 201
38 5, 425
38 2, 157
38 1. 220
38 1, 706
38 796
38 1. 275
38 2. 229
38 2. 312
38 6, 006
112
86
64
23
3
- 39
75
282
252, 099
130, 198 " 90. 924
3,380
24,595 3816.6.33
38 17, 700
402
BANKS— RETURNS WITH NET INCOME
1.454
11, 224
1,766
6,333
9.183
1,162
1.159
222
613
4,590
17, 278
4,773
8.187
13, 020
1,822
1.818
379
675
18, 009
46, 336
20, 774
17, 162
31, 7.52
7,323
7,319
1,623
3,896
20, 571
36, 945
26,427
18. 367
32, 770
7,075
7,068
1.695
3,673
23.211
33, 839
22.650
20, 169
34, 838
7,401
7,394
2,028
3,211
58, 853
91, 692
51. 901
35, 396
73. 038
18, 175
18. 107
5,227
8,676
37, 681
42, 292
30, 583
36, 331
51, 751
13, 138
13, 138
4,117
11, 083
50, 486
82. 183
59, 270
36, 944
61. 441
22, 461
22. 461
7,442
11, 753
22, 500
47, 216
21,715
1,386
27,252
12. 023
12, 023
4.579
4,569
93.125
188, 116
157. 630
82, 324
104. 115
51, 685
51, 578
19. 735
27,094
330, 480
597, 121
397, 491
262, 599
439, 161
142. 166
142, 065
47,048
75, 243
BANKS— RETURNS WITH NO NET INCOME
2.211
. 3. 534
6,321
3,314
5,169
1,871
11,933
8,100
11, 942
4,986
3,932
4,371
692
57 3, 849
67 1. 248
57 142
138
508
1.595
12, 876
3,490
1,852
2,407
2,449
507
1,452
5.154
3,484
4,487
3.555
1,503
1,807
67
38 1. 130
38 766
38 1, 116
38 675
38 313
38 57
38 110
38 1. 130
38 766
38 1, 121
38 677
38 318
38 61
38 110
67
35
142
67
46
46
100
22.420
45,956 j 9,878
12, 167
20,057
38 4, 166
38 4, 183
502
212
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, lO^l, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected, receipts, compiled
other than own stock; also, for returns with net income, the total tax — -Continued
[Total assets classes and money
Total assets
classes ^o
Num-
ber
of re-
turns
with
balance
sheets *'>
Cash <i
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets «
(less re-
serves)
Total
assets-
total lia-
bilities -t^
Accounts
and notes
payable ^2
FINANCE: INVESTMENT TRUSTS AND INVESTMENT
1
466
205
345
777
892
4. nS5
788
1,169
5,234
9,539
16, 077
73, 805
18,013
19, 237
4,198
1,493
5,724
10, 589
42, 136
83, 723
135, 642
726, 715
341, 838
831, 130
408, 657
268, 711
877
1,713
2,727
3,556
6,692
15, 514
1.453
16, 248
8,604
14, 647
55, 197
104, 514
165, 660
858, 421
379, 863
917, 199
425, 302
283,058
1,374
1,332
10, 152
8,783
9,495
46, 357
8,525
25, 260
3,004
442
50 --
100
250
292 1 6! 6.53
500
238
390
56
42
5
2
6,331
36, 140
15, 584
45, 929
12, 202
6,473
1,000
5,000
10,000
50,000
100,000---
1
Total...
2,041
134, 465
149, 554
2, 854, 865
48, 780
3, 212, 465
114,725
FINANCE: INVESTMENT TRUSTS AND INVESTMENT
1
493
154
197
151
109
109
27
30
4
2
901
799
1,858
3,109
3,470
8,638
6,559
21, 523
895
19, 381
1,122
1,617
4.015
6,916
10, 452
17, 127
14, 024
42, 029'
2,929
579
5,627
7,461
21, 547
41, 471
51, 207
212, 178
178, 913
589, 871
294, 763
328, 651
1,232
980
3,728
2,725
6,021
10, 926
975
1,619
9,259
5,237
50
11,074
31, 973
55,111
72, 856
252, 756
201, 892
664, 614
298, 841
1, 868
10, 527
10. 009
5,389
28, 804
20, 197
18, 839
2 950
100
250
500
1,000
5,000
10,000 . .
50,000
100,000
1,397
350,876 1 1,162
Total...
1,276
67, 133
100, 810
1, 731, 690
29, 603
1,949,252 1 104,903
FINANCE: OTHER INVESTMENT COMPANIES, INCLUDING HOLDING
1
110
74
204
179
203
382
86
109
28
36
218
313
1,628
2, 475
5,603
36, 984
29, 028
102, 662
36, 689
641, 892
331
640
4,490
6,277
15,834
83, 492
61, 255
211,293
130, 700
407,814
28
5
385
27
82
1,303
202
3,516
"'"14,823"
1,865
3,363
22, 171
47, 853
109. 326
684, 045
489, 137
1, 964, 902
1, 776, 530
13, 407, 641
514
939
4,580
8,241
13,712
65, 996
21,071
08, 507
9,250
389, 590
3,017
5, 446
33, 863
65, 701
147, 455
881, 448
605, 105
2, 373. 453
1,968,383
14,971,498
608
665
4,110
5,994
10, 271
50, 576
26, 267
71, 107
47, 041
133, 423
50 — -
100
250
500
1,000
5,000
10,000
50,000-.-
100,000.-
Total...
1,411
857, 491
922, 186
20, 371
18, 506, 835
582, 401
21, 055, 309
350,062
FINANCE: OTHER INVESTMENT COMPANIES, INCLUDING HOLDING
1
60
100
250
500
1,000
5,000
10,000
60,000
100,000
Total..
113
219
278
47
1,529
85
240
886
20
3,956
114
1, 123
2,223
213
12,362
81
1,098
4,246
14
21, 178
104
3,110
9,486
482
53, 461
181
1 1, 226
58, 127
167
321,718
35
6,149
22, 568
3
206, 604
41
14, 388
58, 634
1,185
658, 491
6
17,314
49, 820
81
368, 246
U
44, 751
112,463
2, 793, 930
771
102, 624
318, 730
2,212
4, 431, 475
2,639
6,285
18, 908
30, 494
77, 403
430, 722
242. 890
759, 140
455, 731
2,996,718
112,722 I 5,020,989
761
1,361
3,'241
3,972
8,270
53, 811
20, 885
64, 956
32,188
156.056
345, 500
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
213
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thonsands of dollars]
Bonds and
mortgages
payable 53
Capital
stock 51
Surplus
and
undivided
profits 55
(less
deficit)"
Gross
sales '*
and gross
receipts
from
opera-
tions 17
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
COMPANIES 10— RETURNS WITH NET INCOME
991
14,096
67 8, 239
347
3,571
2,738
2,736
192
3,377
830
11,542
445
7
1,601
1,240
1,229
106
1,001
2,889
37, 409
2,701
24
7,845
6,290
6,260
604
5,587
6,838
59, 156
26, 481
1
7,652
5,613
5,562
396
5,236
6,326
88, 573
56, 844
107
11, 806
8,963
8,798
401
9,043
58, 255
407, 447
331, 286
509
57, 582
43, 522
43, 085
2,066
41,390
22, 245
156, 687
180, 163
52
22, 223
16, 581
16, 513
763
15, 552
72, 318
354, 756
459, 573
112
59, 910
45,034
44, 755
1,917
42,538
116,611
80, 091
224, 453
18, 775
7,302
7,284
337
8,315
69,848
242, 849
67 33, 655
15, 061
5,816
5,816
138
6,009
357, 152
1, 452, 607
1,240,052
1,159
206, 024
143,099
142,037
6,920
138,047
COMPANIES 10— RETURNS WITH NO NET INCOME
1,935
2,775
7,142
12, 510
20,754
47, 275
37, 252
178, 674
28,988
176, 269
36, 093
. 13,180
31,229
39, 279
60, 314
130, 720
52, 824
186, 654
99, 045
140, 419
57 35,001
5' 7, 297
57 17, 779
67 9, 270
57 9, 461
18, 329
76, 092
232, 416
151,803
30, 590
76
194
44
1
60
4
534
654
1,112
1,381
2,003
6,746
4,224
16, 980
1,296
21, 645
38 2, 264
38 1, 887
. 38 3, 471
38 2, 745
38 4, 075
38 5, 399
38 6, 767
38 20, 371
38 4, 416
38 2, 293
38 2, 265
38 1, 888
38 3, 485
38 2, 757
35 4, 107
38 5, 735
38 6, 772
38 20, 379
38 4, 416
38 2, 434
445
43
136
2,683
588
2,404
1,773
9
5,ii6"
8,786
440
1,786
513, 573
779, 756
430, 423
5,489
56, 575
38 53, 688
38 54,239
19,084
COMPANIES II 12— RETURNS WITH NET INCOME
248
2,530
67 605
12
775
593
593
27
510
230
4,132
192
1
548
379
378
17
320
2, 639
22, 618
3,475
448
4,476
3,127
3,098
170
2,712
3,566
42, 297
12, 751
521
5,607
3,453
3,446
206
3,173
10, 985
78, 350
45, 590
606
10, 755
7,034
6,954
372
6,724
65, 434
439, 798
313,673
4,619
71, 452
50, 209
49, 885
3,686
43, 589
79,440
273, 522
222, 483
2,649
53, 602
42, 100
41, 993
3,879
41, 662
241, 343
1,111,034
908, 443
8,122
152, 286
113, 293
113, 032
8,077
99,671
477, 313
978, 281
446, 624
5,313
127, 645
99, 766
99, 755
9,143
82,324
2, 733. 831
7, 883, 749
3, 967, 101
170, 203
960, 753
681, 423
680, 376
61, 958
514, 052
3,615,030
10, 836, 311
5, 919, 706
192, 493
1, 387, 898
1,001,378
999, 510
87, 535
794, 739
COMPANIES 11 12— RETURNS WITH NO NET INCOME
182
1,369
2.056
3,630
8,867
187, 724
52, 169
165, 875
54, 463
809, 783
4,929
4,904
22, 551
32, 393
55, 643
333, 024
136, 517
286, 994
276, 145
859, 434
67 3, 362
67 1, 69S
57 9, 112
67 9, 855
67 2, 705
67 200, 532
18, 667
198. 783
90, 094
1, 100, 550
17
45
67
20
99
657
.24
1,055
320
1,137
150
250
560
923
1,667
7,896
3,335
14, 339
11,318
45, Ji27
38 403
38 392
38 7, 518
38 2, 230
38 5, 266
38 69, 698
38 15, 971
38 44, 672
38 2, 146
38 42, 476
38 403
38 396
50
10
38 7, 521
38 2, 240
36 5, 278
38 69, 812
36 15, 972
38 44, 678
38 2, 147
38 42, 577
439
162
1,206
1,670
288
3,872
1,750
18, 318
1.286,118
2, 012, 534
1,180,830
3,431
85, 624
38 190, 773
38 191,024
27, 764
214
STATISTICS OF INCOME FOR 19 41, PART 2
Table 6. — Corporation rettirns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than mon stock; also, for returns ivith net income, the total tax — Continued
[Total assets classes and money
Total assets
classes so
Num-
ber
of re-
turns
with
balance
sheets *"
Cash *i
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets "
Oess re-
serves)
Total
assets —
total lia-
bilities <5
Accounts
and notes
payable '^
FINANCE: SECURITY AND COMMODITY-EXCHANGE BROKERS
1
50
340
119
168
69
39
38
6
5
2
2,273
2,070
4,918
3,707
3,971
6,969
12, 990
15, 039
5,956
1,847
2,523
6, 511
4,913
6,560
10, 975
7,546
23, 836
27, 538
2, 358
3,189
12, 766
13, 783
14, 159
48, 462
22, 352
55, 348
75, 327
556
322
963
1,482
1,301
1,050
181
39
44
7,278
8,579
26, 150
24, 948
26, 943
69, 326
43, 965
94, 613
132, 823
2,706
3,295
11, 272
11,238
12, 265
22, 431
15, 966
34, 380
44, 577
100
250
500
1,000
5,000
10,000
50,000
100 OOD
Total
786
57, 893
92, 250
247, 743
5,937
434, 626
158, 131
FINANCE: SECURITY AND COMMODITY-EXCHANGE BROKERS
1
483
106
103
34
30
23
4
6
1,635
1,396
2,306
1,498
3,640
7,572
1,879
19, 386
2,025
2,182
3,767
2,425
2,160
7.786
3.161
5,253
2, 900
3, 285
7, 153
7.966
12, 336
29, 984
19,217
101. 407
848
522
1,119
668
2,009
2,589
11
567
7,897
7. 760
15,412
12,839
20, 698
49, 678
28. 146
136, 816
8,007
2,935
5, 862
5, 592
7,060
12,471
3,630
62, 695
50
100
250
500
1,000
5,000
10.000
50,000
100 000
Total
789
39, 313
28,760
184, 249
8, 332
279, 247
108, 252
OTHER FINANCE COMPANIES-
1
50
357
66
78
35
19
18
2
2
1
978
951
1,632
1,431
1,.535
5,919
88
1,600
13, 806
1,006
770
2,090
1, 652
3, 254
6,932
5.57
3, 387
12,842
112
60
142
350
79
49
727'
445
552
2,061
3, 451
2.548
9,485
10, 229
4,671
51, 968
2,219
1,944
5,539
4,544
4,314
12, 033
1, 235
12, 023
8,004
5, 228
4,424
12. 184
12, 242
12,103
34, 692
12, 191
22, 753
86, 872
1,266
578
2, 520
1,740
1,405
3.644
165
131
16, 487
100
250
500
1,000 ...
5,000...
10,000
50,000
100 000
Total...
578
27,939
32, 491
1,519
85, 410
51, 857
202, 689
27, 936
OTHER FINANCE COMPANIES—
1
558
118
112
54
34
40
4
5
763
481
1,647
803
1,152
4,491
3,277
8,568
848
1,282
2,649
2,837
3, 262
10, 235
2,316
12,051
138
49
269
390
76
(•*)
609
1, 022
3, 494
4, 238
7, 892
32,645
14,153
81, 396
4, 892
4, 266
8, 350
9, 158
9, 581
36, 596
6, 675
7,495
7,823
8,115
18,211
18, 776
23, 348
87, 966
26, 753
115,492
4,185
3,117
3, 066
3, 063
8, 921
3, 267
8,115
666
50
100
2.';o
50O
1.000...
5,000
10,000
50 000
100 000
Total...
925
21,181
35, 481
922
145, 451
87,012
306, 484
34. 400
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
215
by major industrial groups,^ for returns with net income and returns witj} no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Surplus
Gross
sales '°
Bonds and
morteages
payable =3
Capital
stock 54
undivided
profits 55
(less
deficit)"
and gross
receipts
from
opera-
tions "
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 58
Divi-
dends
paid *
AND DEALERS— RETURNS WITH NET INCOME
215
3,744
93
17, 893
20, 649
651
648
100
691
347
2,908
1,502
16, 761
19, 371
909
859
208
481
1,891
8,341
2,391
41, 687
46, 561
1,505
1,405
274
390
1,330
7,066
3,620
4,483
9.563
1.108
955
187
326
3,256
6,806
3,662
2,353
6, 827
1,152
1,016
171
355
5,898
23, 616
14. 574
2,692
12, 887
2.736
2,425
591
1,219
3,750
13, 609
5,399
2,491
5,931
1,441
1, 136
332
476
548
28,409
26, 402
5,320
9, 548
2,581
2,420
452
1,095
9,700
7,000
10, 601
17
4,465
994
710
89
1,340
i 1
26, 934
101, 500
68, 245
93,696
135,802
13, 078
11, 574
2,404
6,374
AND DEALERS— RETURNS WITH NO NET INCOME
1,399
880
2,011
1,454
1.551
7,696
10, 770
14, 791
14. 895
4. 155
9.713
8.044
5,624
14, 451
5. 063
13, 701
57 18, 273
5-575
5- 3. 148
5- 2, 853
4.863
12, 626
32, 985
12. 082
6. 155
26. 230
693
. 1.546
2.612
22
4,122
14, 488
7, 437
28. 512
2,379
3,152
4,806
1.271
8.044
38 1.314
38 288
38 1. 766
38 268
38 579
38 1, 228
38 1, 150
38 1, 147
38 1, 328
38 298
38 1. 821
38 306
38 692
38 1, 346
38 1, 291
38 1. 263
138
189
38
11
64
98
18
4C, 553
75,645
25, 575
53. 462
70, 090
38 7, 740
38 8, 346
556
RETURNS WITH NET INCOME
918
5.474
5' 3. 109
1.266
4,677
2,031
2,031
501
1,099
254
2,748
416
602
3.121
1.730
1,730
501
1,109
1,656
6. 854
5" 159
1,889
6.882
2,764
2.763
851
1,426
834
6.121
2.355
270
3.339
1.232
1. 225
397
685
21
6.735
1.776
2,294
5,315
1,972
1.971
691
. 745
4,432
16, 761
■ 7, 778
4,424
16. 369
7,702
7,702
2, 560
4, 194
3,010
17, 500
42. 613
8,857
4,523
24.196
961
3.541
21, 457
400
1,762
16, 389
392
1,762
16, 389
1.56
564
1, 995
302
350
175
1,658
5,990
8,115
107, 815
46, 633
11. 269
65, 662
35, 983
s 35, 965
8,217
17,209
RETURNS WITH NO NET INCOME
2,554
2,768
4,738
7,160
7,346
27, 808
27, 443
40,«98
23. 907
6.631
12. 075
11,141
12. 386
24. 572
4,360
7
5' 25. 018
57 0, 024
57 7. 333
57 10, 070
57 9,414
11.595
57 13. 508
61,319
489
219
466
173
204
171
392
18
1,663
805
1.516
1.099
1,637
2.540
1,099
3,165
38 2. 221
38 775
3* 3, 013
36 1, 784
38 4, 328
38 3. 697
38 2, 997
36 6, 620
38 2. 221
38 775
38 3, 015
38 1. 785
38 4, 340
38 3, 697
38 2, 997
38 6, 620
217
14
122
49
311
2,014
120, 815
95, 078 1, 545
2,131
13, 514
38 25, 437
38 25, 452
2,728
216
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, hy total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes so
Num-
ber
of re-
turns
with
balance
sheets ■"'
Cash"
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 5'
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable 5-
FINANCE NOT ALLOCABLE-
1
50
100
250
500
1,000 -
589
170
187
73
49
37
9
3
1
1,478
1, 052
2,615
1,260
4,772
13,221
18, 621
2,819
17, 518
4,800
5, 616
14, 437
10, 029
15,405
24, 312
7,202
23, 253
4,234
70
100
209
176
6
14
2,616
3,434
9,051
11, 259
12, 217
31, 142
24, 382
28, 779
50, 666
1, 035
1,268
2, 553
1,928
2; 356
4,382
6,442
5,024
4,933
10, 431
12,077
29, 848
25. 219
35, 415
73, 306
56, 918
60, 191
79, 054
3,131
2, 620
4,268
4,815
8,990
19, 448
4,022
15
1,653
6,000
10,000
50,000
100,000
Total...
1,118
63, 355
109, 288
575
173, 546
29,920
382, 459
48,963 1
1
FINANCE NOT ALLOCABLE—
1 ...
927
220
196
73
62
55
5
4
2.':24
1,194
2, 451
1, 363
2,294
6,820
1,413
1,076
5,845
6,064
10, 272
9,027
15.018
40, 894
15,406
44, 053
173
265
440
1
21
461
257
3,612
4,909
12,056
10, 296
19, 519
40, 930
12, 942
34, 366
1,636
2,410
4, 607
3,668
5,160
10, 864
23
3
13, 987
15, 428
31,016
24, 653
44, 890
101, 589
30, 053
79, 600
5, 821
6,165
5,483
6,905
8,637
39, 507
7,713
11.292
60
100
250
500
1,000.. --
5,000
10.000
50,000
100,000
Total-..
1,542
18, 634
146. 579
1,617
138, 629
28, 370
341, 215
89, 422
TOTAL INSURANCE CARRIERS, AGENTS,
1
2,455
490
424
150
118
221
77
84
12
10
8,401
5,336
10, 397
8, 958
15, 187
79, 206
88, 723
239, 671
87, 524
83, 677
. 21, 998
16, 240
27, 092
19, 207
15, 796
30, 074
3,605
21, 243
3.727
3,615
12, 877
14, 582
35, 244
347, 108
406, 329
1,345,511
595, 344
1, 390, 105
9,186
7,212
10. 572
5,786
10, 264
27, 618
8, 167
51,048
7,480
14, 518
46, 218
34,431
65, 499
51,884
82, 740
521, 109
555, 505
1, 806, 027
782, 010
1, 598, 274
23,316 i
16,533 !
27, 692
20, 688
17,026
29,911
6,651
27,000
50
100
250
500
1,000
5,000
10,000
50,000
100,000
Total
4,041
627, '08I
155, 254
4, 164, 441
151,848
5, 543, 697
168, 715
TOTAL INSURANCE CARRIERS, AGENTS,
1
1,914
188
127
57
78
138
63
It
16
29
3,680
1,822
2,953
3,790
9, 637
40, 442
34, 724
106, 002
47, 557
728, 275
11,336
5,123
4,416
1,651
1, 090
1,528
2,911
2,771
7,290
9,554
33, 462
261, 541
300, 783
1,460,064
912,115
26, 898, 945
5, 535
2.288
2,990
1,363
4,685
13, 842
11,482
42.512
14, 100
188, 104
25, 296
13, 103
19,657
19,514
53, 732
342, 074
369, 792
1,703,635
], 105,978
28, 687, 333
14, 305
5,634
6,117
1,350
3,029
3,313
50 . ..
100 .
250
500 . ...
1,000 .
5,000
10,000
50,000
100,000-
Total.
2,677
978, 881
25, 145
29, 889, 436
286, 901
32, 340, 114
32, 648
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
217
by major industrial groups,^ for returns wAh net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable 53
Capital
stock 54
Surplus
and
undivided
profits 55
fless
deficit)"
Gross
sales 16
and gross
receipts
from
opera-
tions '7
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 58
RETURNS WITH NET INCOME
1,068
16, 879
67 11, 273
1,189
2,139
532
526
110
869
903
8,019
57 173
1,120
1,902
426
420
71
- 208
4,189
17, 517
2.133
2,302
4,382
932
909
165
390
3,412
14,664
57 61
617
1,820
617
600
115
376
6,540
59, 407
57 42. 393
1.010
3,086
948
853
176
481
4.367
30, 362
16,683
1,846
4, 9.30
2,506
2.384
637
2, 650
12, 101
19, 127
21, 021
529
4,110
2,811
2,805
807
2,418
8.330
34, 582
2
1,314
583
266
25
762
274
18, 000
6.991
4,505
7,706
2, 386
1,730
312
1,980
32, 854
192, 306
27, 510
13, 125
31, 391
11,740
10, 493
2,419
10, 133
RETURNS WITH NO NET INCOME
2.395
4.466
2,215
9,280
12, 444
90,631
5.365
54, 869
25, 635
13. 498
26, 258
13, 596
20. 123
194. 438
10. 515
6,011
57 22, 318
57 9, 976
57 6. 671
57 8, 375
925
57 257. 091
6.416
6,340
878
516
280
72
51
709
2,947
1.003
1,104
663
1,090
3,189
273
1, 536
38 2, 290
38 1,602
38 990
38 870
38 1, 469
38 6, 113
38 24
38 405
38 2, 295
38 1. 610
38 998
38 888
38 1, 490
38 6, 151
38 24
38 405
436
52
131
135
22
20
■"
181, 695
310, 074
57 290, 749
2,505
11, 806
38 13. 764
38 13, 861
796
ETC.— RETURNS WITH NET INCOME
1,348
15, 424
3.578
39, 302
42, 771
4,305
4.300
979
1,311
1.073
9,495
5,540
22. 115
24, 158
2,477
2,471
591
975
1,800
17,629
12, 550
34. 769
37, 891
5.201
5.166
1,509
2.052
1.378
13. 012
11,003
23, 244
24, 343
3.230
3.197
956
1,280
1.213
21,272
21, 790
32, 067
35, 176
6.873
6.680
2.220
2,797
2,102
113.580
152. 310
176, 247
193. 271
26. 113
24,526
6.703
12, 939
68. 503
150. 263
190. 569
208. 432
17, 632
15 909
3 475
8 889
189, 091
506, 147
632. 475
686. 404
61. 179
57 161
10 443
41 013
57, 650
244, 153
251. 880
278, 444
25. 004
23. 019
4 251
16, 647
18 100
48,500
255, 353
165, 282
234, 021
22. 885
20. 655
2,263
8.915
554, 165
1, 362, 687
1, 567, 949
1, 774, 911
174, 899
163, 082
33, 389
106, 004
ETC.— RETURNS WITH NO NET INCOME
2.046
504
1,420
752
603
225
10, 791
3,629
6,459
5,118
7,889
• 44,775
25, 916
47, 791
16, 854
77.200
57 5, 587
650
57 1, 142
3,815
57 6. 295 .
56, 295
55, 432
116, 439
92, 791
1, 154, 753
18, 255
5,080
6.482
6.057
15, 228
76,046
83, 359
190, 048
57, 009
20. 732
5,888
7,102
6.611
17. 088
88, 673
96, 441
256, 561
97, 611
1, 085, 062
38 1,410
38 610
38 1, 653
38 2, 147
38 10. 521
38 23, 442
38 24.114
38 114. 978
38 43, 901
38 31.573
38 1,417
38 640
38 1, 704
38 2. 215
36 10, 829
38 25, 327
38 26, 286
38 123,458
38 50. 714
38 104, 002
109
21
46
315
208
2,716
1,438
5,023
1,276
4,984
5.548
246, 423
1, 467, 149
457, 564
1, 681, 769
38 254, 347
38 346, 592
16, 137
218
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ A^umber of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns loith net income, the total tax — Continued
[Total assets classes and money
Total assets
classes 5"
Num-
ber
of re-
turns
with
balance
sheets *"
Cash 41
Notes and
accounts
receivable
(less re-
serve)
i Inven-
tories
Invest-
ments 5'
Capital
assets "
(less re-
serves)
Total
assets —
total lia-
bilities "
Accounts
and notes
payable >■
INSURANCE CARRIERS 13-
1
103
20
72
39
73
187
75
81
12
10
507
334
1,839
2,371
9,121
67, 306
84, 175
228, 079
87, 524
83, 677
150
105
851
96
704
593
6,303
8, 553
31, 787
339. 369
405, 784
1, 321, 006
595, 344
1,390.105
155
237
1,761
2,234
6,091
17, 677
8,070
45, 842
7,480
14, 518
1,718
1,455
12, 063
1
50
100
250 . -
14, 235
52,223
459, 636
543, 019
1, 743, 262
782, 010
1, 598, 274
500 - -
1,000
54
5,000 . _
10,000
50,000
100,000
Total
672
564, 933
1,256
4, 099, 549
104, 064
5, 207, 895
INSURANCE CARRIERS 13-
1
168
52
61
49
72
133
53
77
16
29
1,014
835
1,790
3,729
9,186
39, 400
34, 724
106. 002
47, 557
728, 275
80
152
380
(14)
142
1,060
1, 854
5,720
9.328
32, 956
256. 018
300. 783
1, 460, 064
912, 115
26, 898, 945
205
363
774
1.062
3,588
13, 589
11, 482
42, 512
14, 100
188. 104
2.652
3.650
10, 069
16. 978
49, 979
333, 482
369. 792
1. 703, 635
1, 105, 978
28, 687, 333
50.,.
100
250
500
1,000
5,000
10,000
50,000
100,000
Total..
710
972, 513
754
29, 878, 842
27.5, 780
32, 283, 548
INSURANCE AGENTS, BROKERS, ETC.—
1
2,352
470
352
111
45
34
2
3
7,893
5.002
8,558
6,587
6,066
11,901
4,548
11, 593
21, 848
16, 134
26. 241
19. Ill
15, 796
30, 020
3,605
21, 243
3,024
3.022
6,574
6,028
3,456
7,739
545
24, 504
9,029
6, 975
8.811
3. 553
4,173
9.941
96
5,205
44. 501
32, 977
53, 436
37, 649
30, 517
61, 473
12, 485
62, 765
23, 316
16. 533
27.692
20, 688
17, 025
29,911
6,551
27, 000
50 .
100 .
250 _
500 ... . .
1,000
5,000
10,000....
50.000
100,000
Total...
3,369
62, 148
153, 998
54, 892
47, 784 335, 802
168, 715
INSURANCE -AGENTS, BROKERS, ETC.—
1..
1,746
136
66
8
6
5
2, 666
987
1, 163
tiO
4.50
1,042
11,256
4,971
4,036
1,651
949
1,528
1,851
917
1,571
226
506
5,523
5,330
1,925
2, 216
301
1,096
252
22,644
9,453
9,588
2, 536
3, 753
8,592
14, 305
5,534
5,117
1,350
3,029
3,313
50
100
250
500
1,000
5,000
10,000
50.000
100,000
Total...
1,907
6, 369
24, 391
._ i 10, ,594
11.121
.56, 566
32, 648
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
219
by major industrial groups,^ for returns with n.t income and returns with no net in-
net profit or net loss, net income or defic't, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable 53
Capital
stock 54
Surplus,
and
undivided
profits 55
(less
deficit)"
Gross
sales '6
and gross
receipts
from
opera-
tions '7
Total .
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
RETURNS WITH NET INCOME
533
618
5,004
6,137
15, 389
104, 575
68. 398
166, 345
57, 650
48, 500
527
381
3,312
4,410
17. 134
135, 764
149, 093
494, 539
244, 153
255, 353
1,785
462
3,914
3. 558
15, 782
139. 810
187, 565
619, 067
251,880
165, 282
2,178
510
4.757
4.065
18. 112
155, 420
205, 351
680. 109
278. 444
234, 021
132
877
812
2,584
14,643
16, 784
54, 591
25, 004
22, 885
129
75
852
782
2,395
13, 059
15. 060
50. 573
23, 019
20,655
23
19
243
215
691
2,841
3, 087
8,679
4,251
2,263
5
27
309
267
841
7,055
8,495
36,655
16.647
18,100
473, 149
1, 304, 667
1, 389, 105
1, 582, 969
138, 389
126, 598
22, 312
88, 401
RETURNS WITH NO NET INCOME
1,383
847
3,315
4,871
7,469
42, 447
25,916
47, 791
16, 854
77, 200
57 1.306
6.30
57 567
3,753
57 5, 929
53, 628
55. 432
116. 4.39
92, 791
1, 154, 753
1,381
880
2,498
4,719
14, 133
72, 527
83, 359
190, 048
57, 009
2, 458
1,363
2,870
5,212
15, 946
84, 968
96. 441
256, 561
97, 611
1, 085, 062
38 360
38 344
38 1, 384
39 2, 070
38 10, 409
38 23, 385
38 24. 114
38 114.978
38 43, 901
38 31, 573
38 366
38 375
38 1, 435
38 2, 138
38 10, 717
38 25, 269
38 26. 286
38 123, 458
38 50. 714
38 104, 002
88
10
41
314
208
2,621
1,438
5,023
1,276
4,984
228, 093
1, 469, 624
426, 553
1. 648, 493
38 252, 517
38 344, 761
15, 903
RETURNS WITH NET INCOME
1.348
1,073
1,800
1,378
1,213
2,102
14, 891
8,877
12, 626
6.875
5,883
9,005
105
22, 745
3, 051
5, 1.59
9,238
6,593
4,656
16, 546
1,170
11,607
37, 517
21, 653
. 30, 854
19, 686
16. 285
36. 437
3,004
13, 408
40. 593
23. 648
33, 134
20, 278
17.064
37. 850
3,081
16, 295
4,173
2,400
4,324
2,418
4,289
11, 470
849
6,588
4,171
2.396
4.314
2.414
4,286
11, 467
849
6,588
956
572
1,266
741
1, 528
3,862
388
1,764
1,306
948
1,743
1,014
1,956
5,885
393
. 4,358
8,915
81, 006
58,020
178, 844
191, 942
36, 510
36. 485
11, 077
17,603
RETURNS WITH NO NET INCOME
2,046
9.408
57 4, 281
20
57 576
62
57 .367
2,668
16,875
4,200
3, 984
1,339
1,095
3,519
18.274
4, 525
4, 232
1.398
1.142
3,706
38 1, 050
36 265
38 269
38 77
36 112
38 57
38 1, 051
38 265
38 269
38 77
38 112
38 58
21
504 2, 782
1, 420 3. 144
11
5
752
603
225
247
421
2,328
1
195
5,548
18, 330
57 2, 474
31,011
33, 276
38 1.830 38 1.831
234
220
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes so
Num-
ber
of re-
turns
with
balance
sheets *"
Cash 41
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments "
Capital
assets 43
(less re-
serves)
.Total
assets —
total lia-
bilities «
Accoimts
and notes
payable ^^
REAL ESTATE, INCLUDING LESSORS OF
1
12, 478
6,604
7,152
2,975
1,339
S21
90
28
2
19, 005
17, 858
32, 068
28, 670
24, 933
48, 104
16, 731
16, 763
93
24, 432
28, 391
65, 811
54, 558
50, 320
93, 364
37, 086
12, 627
10, 384
4,372
6,041
11,244
1,396
513
1,545
424
180
16, 293
23, 773
60, 962
99, 566
107, 142
263, 286
96, 917
100, 257
10, 229
224, 385
388, 137
937, 632
825, 976
728, 753
1, 349, 686
455, 885
306, 086
99, 051
296, 183
473, 771
1, 126, 951
1, 025, 168
926, 559
1, 787, 357
614, 375
449, 672
121, 000
52, 379
57, 849
122, 018
93, 777
67, 426
122, 528
16, 864
29,788
20, 569
50 - -
100
250
500
1,000
5,000
10,000
50 000
100 000
- - , ]
' 1
Total...
31, 589
204, 224
376, 972
25, 714
778, 426
5, 315, 592
6, 821, 038
583, 198
REAL ESTATE, INCLUDING LESSORS OF
1
21, 242
8,246
7,745
3, 067
1,483
1,122
88
42
3
15, 222
12, 109
19, 217
16, 690
16, 463
34, 695
12, 781
18, 439
2,607
31, 217
29, 894
56, 366
50,616
45, 391
89, 923
26, 833
28, 237
42, 271
8,353
10, 302
16, 978
1, 289
756
1,992
108
210
349
23, 451
369, 267
459, 124
586, 434
1, 214, 062
1, 068, 222
1, 017, 377
2, 199, 769
605, 332
666, 358
209, 920
135, 064
97, 594
169, 221
129, 022
103, 405
205, 711
43, 472
35, 726
46, 042
50
29, 140 493, 348
67,836 1 1,032,311
100
250
89, 843
82, 549
226, 764
67, 386
106, 370
41, 662
894. 105
854, 8S7
1, 807, 106
487, 550
493, 249
118, 182
500
1,000
5,000
10,000
50,000
100 000
Total. --
43, 038
148, 223
400, 749
40, 338
735, 001
6, 55Q, 005
8, 026, 600
965, 258
LESSORS' OF REAL PROPERTY, EXCEPT
1
50
1,086
378
417
211
128
161
42
35
9
2
1,918
1,735
3,325
3,613
3,331
9, 023
9,517
6,125
4,210
4,172
1,616
1,724
4,387
4,048
6,528
15,612
6,871
33, 674
4,280
56
128
115
184
40
494
500
24
2,132
658
265
1,344
2,246
6,571
7,511
9, 782
30, 946
12, 067
42, 031
40, 020
15, 584
20, 566
49, 577
58,019
68, 000
264, 929
257, 446
640, 956
559, 303
257, 387
21,375
27, 119
65, 775
75, 476
90, 438
327, 834
291,616
740, 779
626, 265
263, 696
2,877
3,855
4,504
6, 735
4,326
11,253
13, 804
12, 922
1,992
173
100
250
500
1,000
5,000
10,000
50,000
100,000 -
Total...
2,469
46, 969
78, 795
4,542
152, 519
2,191,766
2, 530, 373
62, 442
LESSORS OF REAL PROPERTY,
EXCEPT
1
50
1,8,55
482
422
183
118
120
25
12
2
1,499
984
1,325
1,544
1,585
3,756
4,663
3,471
805
2,531
2,044
4,407
3,735
6,536
8,985
3, 333
12, 052
1,373
296
341
201
70
64
480
667
117
221
2,111
2, 440
5,767
5, 933
6, 108
22, 037
14, 390
14, 860
81
26,812
27, 148
50, 986
51,694
63, 336
209, 108
144,713
202, 803
170, 196
34, 804
34,211
65, 556
64, 398
80,019
253, 137
169, 483
252, 243
180, 070
13, 408
7,716
14,311
11,465
12, 529
38, 815
15, 896
5, 050
445
100 -
250
500
1,000 . . ..
6,000
10,000
50,000
100 000
1
Total...
3,219
19, 631
44, 996
2,456
73, 727
946, 796
1,133,921
120, 234
For footnotes, sec pp. 231-236,
STATISTICS OF INCOME FOR 1941, TART 2
221
by major industrial groups,^ for returns with net income and returns ivith no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable "
Capital
stock 54
Surplus
and
undivided
profits 56
(less
deficit)"
Gross
sales 19
and gross
receipts
from
opera-
tions "
Total
compiled
receipts «
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 56
BUILDINGS— RETURNS WITH NET INCOME
100,511
135, 577
5' 6, 931
60, 955
122, 401
15, 078
15, 057
2.890
4,811
195, 000
169, 440
33, 225
44, 062
108, 060
14, 998
14, 954
2, 983
5,091
527, 423
325, 984
110, 465
66, 994
199, 261
28, 579
28, 507
5, 904
9,683
472, 084
294, 631
129, 508
88, 107
148, 581
25, 043
24. 882
5,487
10, 374
370, 433
290, 269
162, 219
75, 725
122, 827
23, 083
22, 941
5,451
10, 457
684, 518
559, 600
355, 067
134. 082
214. 345
42, 136
41, 760
11,829
20, 171
200, 853
207, 814
174, 324
32, 809
59, 570
12. 072
11,903
2,807
7,608
205, 998
86,864
97, 905
31,411
47, 388
4,358
4,159
1,059
2,657
75, 397
907
23, 527
2,441
14. 302
183
181
1
2, 832, 216
2, 071, 087
1, 079, 309
536, 586
1, 036, 736
165, 530
164, 345
38, 412
70, 852
BUILDINGS— RETURNS WITH NO NET INCOME
229, 857
329, 655
749, 914
667, 066
600, 984
1, 238, 074
351. ,545
356, 4^3
145, 932
244, 897
211,749
371, 981
284, 603
297, 478
573,491
164, 551
134, 123
39, 655
67 185, 706
5" 85, 751
6' 139, 427
57 82, 129
67 55, 900
40, 996
14,946
104, 579
57 46, .576
59, 641
29, 728
45, 378
84,729
76. 133
145, S29
35. 373
37, 604
25, 631
125,911
86, 083
153, 846
108, 383
95. 546
] 82. 239
46. 383
46, 315
29, 942
38 35, 621
38 35, 632
1,591
38 17, 021
38 28, 995
38 25, 614
38 24, 397
38 44, 180
38 9, 810
38 12, 726
38 6, 657
38 17, 028
38 29, 030
38 25, 673
38 24, 468
38 44, 250
38 9, 854
38 12, 763
38 6, 658
36»
796
1,034
778
3,774
307
387
4, 669, 491
2,322,528
67 434, 969
540, 146
874, 649
38 205, 019
38 205, 355
9,036
BUILDINGS- RETURNS WITH NET INCOME
3,946
29, 819
67 16, 836
688
5,363
2.299
2,297
524
2,591
2.882
22, 440
57 3, 751
819
4,847
2,003
2,002
517
1,158
6,659
51, 042
1,078
1, 172
10, 591
4,583
4,573
1,243
3,840
10, 678
48, 183
4,259
435
8,459
3,826
3,813
1,071
2,923
8,435
55, 330
17, 694
571
11,796
5,814
5, 802
1,639
4,724
79, 817
164, 606
60, 543
1,255
26, 591
13, 058
13, 008
3,939
10, 326
54, 174
124, 391
92, 313
443
24, 776
12, 596
12, 585
3,991
13, 258
332, 093
241, 107
137, 522
5,593
65, 729
35, 456
35, 394
12, 451
31, 724
346, 089
196, 086
66, 825
202
33, 396
15, 750
15, 750
4,605
10, 178
19, 223
222, 378
17, 462
23, 312
16, 707
16, 704
5,929
12, 174
863, 995
1, 155, 382
377, 110
11, 179
214, 861
112, 093
111,928
35, 909
92, 894
BUILDINGS— RETURNS WITH NO NET INCOME
8,706
10, 796
16. 994
14, 557
31, 274
90, 630
55, 487
123, 194
170, 666
53, 166
38. 511
44, 858
39, 098
46, 924
110, 095
72, 882
84, 168
2,810
57 43, 796
57 27, 089
57 15, 069
57 6. 930
57 18, 530
67 12, 745
3, 259
67 860
258
469
369
175
161
517
218
141
18
2,030
1,355
1,856
2,214
3,494
6.072
5, 118
1,676
8,029
38 3, 505
38 1, 696
38 1. 904
38 2, 379
38 2, 660
38 5, 852
38 1, 150
38 4, 660
39 .302
38 3, 508
38 1, 700
38 1, 906
38 2, 390
■ 38 2,662
39 5, 857
38 1, 151
39 4, 660
, 38 302
132
32
138
182
276
416
466
iio
522, 304
492, 511
57 121, 503
2,068
31,843
38 24, 109
38 24, 136
1,782
589783—44-
-15
222
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 1941, by total assets classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, cojupiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balanec
sheets *"
Cash *i
Notes and
accounts
receivable
Gess re-
serve]
Inven-
tories
Invest-
ments 5'
Capital
assets *3
(less re-
serves)
Total
assets —
total lia-
bilities ■'s
Accounts
and notes
payable «
CONSTRUCTION— RETURNS
1
4,061
1,324
1,231
488
288
206
22
11
11. 706
12,556
25. 501
22, 413
24, 569
43, 857
15, 237
18, 453
34, 055
39, 676
85. 879
80. 479
102, 837
205, 744
49, 096
57, 370
12. 931
13. 038
23, 007
11,256
11,162
19, 207
13, 199
14, 707
3,119
4,536
11, 741
14,408
17, 203
62, 797
29. 931
25, 572
17, 503
22, 590
43,003
33, 378
34, 581
43. 291
30. 645
39, 465
81, 782
95, 070
195. 046
167. 8.34
197, 058
396, 704
155. 674
165, 028
33,244
33, 822
64, 107
50, 925
63, 502
120, 692
30, 524
34, 315
50
100
250
500
1,000
5,000
10,000
50 000
100 000
1
Total-..
7,631
174, 293
655, 137
118,507
169, 307
264, 467
1, 454, 196
431, 129
CONSTRUCTION— RETURNS
1
4.274
480
321
116
48
22
2
5,516
2,911
4.283
3, 064
2. 237
2.733
245 j
20, 738
11,900
19, 234
17,641
15. 082
21. 297
7,398
7,375
4,076
5.619
1,524
1.246
1,342
13
2.899
3, 475
5.017
7,499
6.816
6,045
3,488
14. 351
10, 377
12.829
9,245
6, 405
5, 633
1,410
53, 138
34, 036
49, 098
39, 989
33, 030
37. 803
12, 632
81, 494
14, 372
19, 676
12,602
8,732
6,804
7,134
50
100
250
500
1,000 - -
5,000
10 000
50 000
1
100 000
. .1
.
Total...
5,263
20,989
113, 2ro
21,194
35, 240
60, 249
259, 727
100, 814
TOTAL AGRICULTURE, FORESTRY, AND
1
1,388
646
721
333
166
133
13
7
2,916
3. 225
6,888
6,133
5, 722
12, 372
9.811
2,680
3.798
4,387
11,360
10. 581
8.979
20, 691
7,478
4,512
3. 907
7.713
18.790
20, 004
17,155
32, 920
7,870
7,694
817
1,926
5, 402
7, 537
10. 259
35, 154
8,833
18, 683
19. 249
27, 312
67,917
69, 136
68. 799
151,686
52, 205
76, 807
31,497
46, 075
114,260
115,641
112,990
257, 668
87, 446
110, 760
7,500
9,768
18, 060
15,845
16.314
31,392
12, 279
62, 839
50
100
250 . .-
500
1,000
5.000
10,000
50 000
100,000
i
10, 421
4,485
6,395
152, 772
33, 421
210, 600
12, 619
Total...
3,408
60, 167
76, 272
122,447
241, 384
566, 532
1, 086, 937
186,617
TOTAL AGRICULTURE, FORESTRY, AND
] .
1,788
452
381
125
■ 80
71
5
2
1,544
1,079
2,004
1.143
931
1,722
439
400
3,433
2.885
5,766
3, 057
3. 762
5. 872
1,838
416
3, 695
3,408
5, 327
3, 444
2, 883
4, (i33
57
4
1,321
1,055
4,131
3, 626
8, 022
28, 278
1,181
17, 407
23,315
22, 381
42,035
29, 806
3(), 724
78, 167
30. 289
15, 167
34, 616
31,854
61,525
43, 235
53, 606
]22,4.'i8
34, 103
33, 468
13, 615
10, 436
17, 195
7,971
11,815
13, 828
6, 363
12, 704
.50
100
250 . .-
500.
1,000
5,000
10,000
60 000
100 000
Total...
2,904
9,262
27, 029
23, 449
65, 022
277, 885
. 414,866
93,927
For footnotes, .see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
223
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Surplus
Gross
and
sales '6
Bonds and
Capital
stock 54
undivided
and gross
Total
Compiled
Net in-
Total
Divi-
mortgages
profits 55
receipts
compiled
net profit
come or
dends
payable "^
ness
•frbm
receipts *
or net loss
deficit 3
paid 8
deficit)"
opera-
tions 1'
WITH NET INCOME
7,172
7.658
15, 116
7,520
9,571
19, 087
5,527
2,707
35, 270
30, 539
55, 668
38, 652
38, 838
77, 287
• 28, 186
40, 034
5"1,211
14, 537
39, 747
43. 468
48, 535
102, 936
59. 367
63, 506
297, 092
268, 825
461, 977
393, 363
383, 601
701, 775
197, 487
244, 812
299, 661
271, 984
469, 055
400, 977
392. 334
720, 695
210. 523
253, 229
8.730
10, 982
23,535
24. 662
26. 000
50, 975
29, 151
22, 069
8,728
10. 978
23,509
24, 509
25, 953
50, 813
29, 113
21, 988
1,710
3,088
7,782
10, 207
11, 405
21, 851
13,294
11, 180
428
946
2,164
2,693
3,615
8,205
8,020
5,095
74,358
344, 475
370, 885
2, 948, 932
3, 018, 458
196, 005
195, 593
80, 517
31, 165
WITH NO NET INCOME
8.541
4,993
5,987
4,493
2,777
3,220
33, 871
16. 140
18, 093
13, 306
8.357
8,129
5- 26, 145
5- 4, 401
571
2,830
7,197
5,273
1,522
169, 295
56. 304
06. 069
170,955 3«6, 733
57, 122 i 3S 2, 243
67, 574 1 3S 3. 249
3^ 6. 735
3' 2. 245
3^3,261
3S 2, 273
163
52
67
41,gS9 42,551 3*2,253
25. 480 26, 407 38 i, 207
21, 7.'53 1 22.332 38 1, 837
456 1 477 3S41
84
38 1, 221
38 1, 844
38 41
30
143
2,213 ; 1.619
11
}
1
1
*
32,223 1 99,515
57 13, 152
381, 056
387,418 1 38 17 564
1
38 17,619
549
FISHERY— RETURNS WITH NET INCOME
4,635
21, 901
5? 3, 787
54, 598
55, 762
3,295
3,295
642
821
6.834
23, 595
4,309
43, 615
44,966
3.833
3,830
813
666
17, 427
63, 205
10. 257
78, 634
81. 958
9,624
9,620
2.622
1.934
13. 635
55, 703
25, 693
62,380
65. 689
9,064
9. 060
2.685
1,980
13, 520
52, 820
27, 234
44, 563
47, 899
7,601
7.584
2.405
2,412
30, 209
109. 644
77, 381
100. 837
107, 703
14, 3,53
14, 322
4,911
4,593
13. 972
20, 723
35, 5,56
28,006
31, 007
5,158
5. 113
1.928
1,791
3,908
20, 678
17, 768
49, 713
51, 669
10, 049
10, 048
2.913
4,497
118,500
76, 879
117, 562
125, 084
16, 782
16, 781
3,524
11,692
104, 139
486, 768
271, 290
579. 909
611, 737
79, 759
79, 653
22,443
30, 387
FISHERY— RETURNS WITH NO NET INCOME
7.437
7,864
1.3, 716
8.835
8.575
26.158
9.418
6,230
28. 045 : 57 le. sgo
23,073 ] 57 11,029
41,377 57 14,007
24, 941 57 147
34, 920 5- fi, 070
56,993 i 15,749
10,363 1 8.58
9,530 2,906
29. 145 30. 050
fc.087 i 12,664
23,903 : 25,067
11, 129 : 11, 779
8,314 1 9,188
12, 984 15, 190
3S 2, 803
3^ 1, 989
3' 2, 854
3s 2, 526
38 1, 927
38 2. 061
3S 2, 804
3* 1, 989
3S 2, 855
38 2, 528
38 1, 929
38 2, 127
-38 650
38 485
92
42
122
30
C56
239
310 470 1 3S650
452 ; 592 38 485
!
i
1
88, 233 229, 244 1 57 28, 320 1 98, 324 1 105. 000
38 15, 295
38 15, 367
1,182
1
224
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns with balance sheets, 194t, hy total assets, classes, and
come: ^ Number of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the toted tax — Continued
[Total assets classes and money
Total assets
classes s"
Num-
ber
of re-
turns
with
balance
sheets «
Cash «
Notes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 51
Capital
assets *^
(less re-
serves)
Total
assets —
total lia-
bilities *5
Accounts
and notes
payable ^^
AGRICULTURE AND SERVICES—
1 .
1,243
599
665
302
157
118
12
7
2,506
3,022
6,288
5, 091
5, 249
10, 802
9,316
2,680
3,518
3.904
9,710
9, 369
8, 454
18, 224
5, 761
4, 512
3,848
7,498
18, 252
18, 786
17, 098
30, 029
7,686
7,694
702
1,704
4,891
7,060
9,308
30, 619
5,826
18, 683
17, 338
25, 366
63, 251
62, 383
64, 635
129, ,540
49, 984
76, 807
28, 601
42, 749
105, 714
104, 615
106, 782
223, 780
79,817
110,760
6,651
9,036
15, 677
14, 646
15, 602
29, 923
12, 214
62, 839
50
100
250
500
1,000
5,000
10,000
50,000
100,000.__
1
10, 421
4,485
6,395
152, 772
33, 421
210, 600
12, 619
Total. --
3,104
55, 376
67, 937
117,285
231, 565
522, 726
1, 013, 419
179, 207
AGRICULTURE AND SERVICES-
1 .
1,609
393
339
102
57
52
2
2
1,317
849
1,808
887
519
1,340
277
400
3, 110
2,443
5,105
2.350
2,367
2,855
1,574
416
3, 520
3,216
5.280
3,029
2,473
4,267
57
4
1.164
963
3.594
3,225
6,906
21,279
1,086
17, 407
21, 062
19, 399
36, 523
24, 024
26, 390
55, 792
9,249
15, 167
31, 341
27, 735
54, 484
35, 222
38,018
88, 740
12, 243
33, 468
12, 189
8.929
15, 571
5,390
8,156
9.981
3,041
12, 704
50
100
■250.—
500 .
1,000
5.000
10,000
50 000
100 000
Total...
2. 556
7,397
20,220
21, 845
54, 624
207, 606
321, 252
75,962
FORESTRY— RETURNS
1.
71
27
30
22
7
12
1
211
91
397
672
162
1,095
495
205
314
1,174
910
285
1, 542
1,718
38
166
161
610
41
1, 188
184
67
64
262
465
835
2,598
3,006
717
1,179
2,449
5,228
3,469
19, 693
2,220
1,275
1,944
4,740
8.049
4,796
26. 319
7,629
412
375
1.688
602
395
904
65
50
100
250
500
1,000
5 000 ..
10 000
50 000
JOOOOO
1
1
Total.. -
170
3,122
6,148
2,387
7,298
34, 955
54, 751
4,442
FORESTRY— RETURN S
1
81
42
35
19
20
17
3
131
154
91
133
401
341
162
146
337
464
510
1,384
1,210
264
78
39
46
367
8
51
78
284
294
2, 100
5, 300
95
1,114
2.289
4,817
5, 091
9,106
21, 639
21, 040
1, 557
2,949
5,818
6,835
13, 597
29, 074
21, 860
645
1,095
1,284
2,441
2,813
1, 967
3, 321
60
100
260
500
1,000
6 000
10 000
50 000
100 000
Total...
217
1,413
4,345
545
8,202
65,096
81, 690
13, 667
For footnotes, see pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
225
by major industrial groups,^ for returns with net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends paid in cash and assets
figures in thousands of dollars]
Surplus
and
Gross
sales '0
Bonds and
Capital
stock 54
undivided
and gross
Total
Compiled
Net in-
Total
tax 56
Divi-
mortgages
profits 5=
receipts
compiled
net profit
come or
dends
payable 53
(less
from
receipts *
or net loss
deficit 3
paid 8
deficit)"
opera-
tions '7
RETURNS WITH NET INCOME
4, 302
19,564
57 3, 066
50, 653
51, 485
2,827
2,826
573
707
6,192
21, 982
4,123
41,358
42, 480
3,492
3,490
753
476
16, 099
58, 849
10, 085
72, 975
75, 634
8,842
8,837
2,407
1,761
12, 583
60, 055
23, 153
58, 993
61, 445
7,959
7,957
2,367
1,782
12,138
48,467
27, 659
40, 956
43,758
6,912
6,900
2,132
2,001
29,291
92, 056
64,764
80, 921
86,949
13, 023
12, 992
4,416
3,826
13, 972
18, 279
30, 495
27, 773
30, 384
5,005
4,962
1,910
1,596
3,908
20, 678
17, 768
49, 713
51, 669
10, 049
10,048
2,913
4,497
lis, oOO
76, 879
117, 562
125, 084
16, 782
16, 781
3,524
11,692
98,485
448, 431
251, 859
540, 904
568,889
74, 890
74, 794
20, 996
28,338
RETURNS WITH NO NET INCOME
6,533
7,046
12,507
8,345
8.136
22, 928
2,581
6,230
25, 096
18, 264
34, 934
20, 620
23, 533
42, 518
8,400
9,530
-. -■-
57 14, 429
26. 903
27, 706
11, 497
24, 277
10, 593
7.857
13, 070
158
592
38 2, 424
38 1, 749
38 2, 517
3' 1,518
38 1, 220
38 1, 196
38 113
38 485
38 2, 425
38 1, 749
38 2, 518
38 1, 520
38 1, 221
38 1, 257
38 113
38 485
60
57 7,795 1 11,011
57 11,469 [ 23,153
57 423 ! 10,072
57 4,825 : 7,236
4,742 i 11,238
57 1, 780 1 154
2, 906 452
42
122
16
18
35
74, 306
182, 895 57 ,'?,'?. 073
90,220
95, 752
38 11.223 38 11.288
293
WITH NET INCOME
146
1,256
57 585
1, 688
1,930
291
291
38
75
415
1, 043
38
1,094
1,316
205
205
36
163
825
2,422
57 306
1,993
2,539
329
329
81
60
778
4,673
1,584
1.007
1,843
801
800
209
161
1,379
4,106
57 1, 242
2,184
2,309
400
400
162
343
918
15, 076
8,698
2,630
3,340
549
549
159
623
2,443
5,061
233
623
153
150
17
195
4,460
1
31,020
13, 248
10, 829
13, 899
2,727
2,723
703
1,621
603
550
959
415
416
3, 2.30
6,837
1,507
4,075
5,886
3,893
10, 743
14, 167
1,963
67 1, 281 ; 413 456
57 2,975 1 562 616
57 2,611 1 456 493
57 254 535 649
57 1, 627 1 803 ' 1, 049
8.563 V 939 1,308
2, 638 156 312
36 169
38 119
38 303
38 926
38 636
36 786
38 537
38 169
38 119
38 303
38 926
38 638
38 791
38 537
32
14
639
203
1
i
13, 009 42. 2.33 , 2 453 1 3 864 i 4 R83
38 3, 476
38 3, 483
889
226
STATISTICS OF INCOME FOR 1941, PART 2
Table 6. — Corporation returns xinth balance sheets, IS^l, by total assets dosses, and
com,e: ^ Nximber of returns, selected assets and liabilities, selected receipts, compiled
other than own stock; also, for returns with net income, the total tax — Continued
[Total assets classes and money
Total assets
classes ">
Num-
ber
of re-
turns
with
balande
sheets *"
Cash <i
Xotes and
accounts
receivable
(less re-
serve)
Inven-
tories
Invest-
ments 31
Capital
assets «
Gess re-
serves)
Total
assets —
total lia-
bilities <5
Accounts
and notes
payable '-
FISHERY— RETURNS
1
74
20
2
3
199
112
203
369
311
475
75
168
476
302
240
926
20
50
377
609
17
1,702
49
158
248
11
116
1,937
1,194
767
2,217
1,525
695
2.453
1,621
1,382
3.806
2,976
1.412
•7. 570
437
357
695
597
317
565
50
100..
250....
500.
1,000 .
5,000
10,000
50,000
100,000
:
Total...
134
1.669
2,187
2,775
2,520
8,852
18. 767
2,968
FISHERY— RETURNS
1
98
17
7
4
3
2
95
76
105
123
11
41
176
105
167
197
11
1,807
97
153
106
15
252
107
16
1,699
1,140
693
696
691
1,228
736
1,718
1,170
1,222
1,177
1,992
4.645
781
412
339
140
846
1.880
50
100...^ .
250.
48
402
361
500 .
1,000 ..
5,000
10,000.
50,000...
100,000
Total...
131
452
2,465
1.060
2.196
5,184
11, 924
4,398
NATURE OF BUSINESS NOT .ALLOCABLE—
1
1.076
232
214
134
85
56
5
2, 942
6.719
961
804
2.329
2,269
3,988
5, 526
1,475
2,193
2, 351
6,414
13, 956
17, 553
36, 913
11, 906
5,796
5,501
12, 214
14, 167
21, 553
35, 905
13,017
19, 524
16, 191
34, 400
47, 400
59, 009
102, 208
37, 249
7,836
4,687
6,400
9,424
11,837
14, 459
2,929
50
1,793 4.990
100__
3,200
3,492
5, 259
5, 567
3,417
9,146
11,797
8,500
13, 652
7,231
250
500
1J)00....
6?D00
10,000
50,000
100.000
Total...
1,802
25,670 62,035
17, 351
91,286
108, 152
315, 981
57, 572
NATURE OF BUSINESS NOT ALLOCABLE—
1....
2,528
265
243
165
107
72
3
3
3,431
1.227
2,316
2,867
2,992
2,620
44
87
8,283
1, 217
3, 701
3,684
9,075
17, 097
19, 501
47, 774
1, 0.59
17, 874
9,249
7,226
16, 409
24, 752
37, 664
■58, 664
15, 889
15,319
27,716
18, 776
37, 160
58, 821
74,268
133, 404
20,416
39, 563
18, 947
12, 773
8,735
13, 259
15,168
30, 430
4
6,884
60
4,816
6,453
10, 602
8,688
14,628
3, 314
640
1,241
650
833
6,240
100
250
600..
1,000...
6,000 . .
10,000
2,688 1 1.917
60,000
100,000
Total...
3,386
15, 584
59, 172
12, 739
119,765
185, 172
410, 124
106,200
For footnotes, see pp. 234-236.
STATISTICS OF INCOMt FOR 1941, PART 2
227
by major industrial groups,^ for returns unth net income and returns with no net in-
net profit or net loss, net income or deficit, and dividends pa^d in cash and assets
figures in thousands of dollars]
Bonds and
mortgages
payable '3
Capital
stock 54
Surplus
and
undivided
profits 5E
(less
deficit)"
Gross
sales "=
and gross
receipts
from
opera-
tions 1'
Total
compiled
receipts *
Compiled
net profit
or net loss
Net in-
come or
deficit 3
Total
tax 58
WITH NET INCOME
1
187
1.080
5M35
2,258
2,347 1
178
178
31
39
227
570
148
1,163
1, 170
136
136
23
26
503
1,934
479
3,666
3,785 1
454
454
133
114
275
975
956
2,379
2,402 i
304
304
109
37
3
247
817
1,423
1.832
290
285
111
69
2,511
3,919
17,286
17,414 1
782
782
336
144
1,195
7,318
6,183
28,176
28,949 !
1
2,143
2,137
743
429
WITH NO NET INCOME
301
269
251
74
24
1,442
734
. 557
429
645
308
57 869
67 259
73
530
382
2,444
1,829
513
295
522
275
807
1,888
551
296
536
283
811
38 210
38 121
38 34
38 82
38 70
38 79
38 210
38 121
38 34
38 82
38 70
38 79
(M)
918
4,115
2,300
4,241
4,365
38 596
38 596
('*)
RETURNS WITH NET INCOME
2,172
16, 502
57 8, 493
19, 271
21, 451
1,729
1,725
344
500
2,063
8.472
125
9,360
10, 706
1,062
1,062
234
274
3,079
15, 2.53
7,214
20, 952
24, 230
3,245
3,232
971
854
5,746
21, 980
7,638
16, 378
18. 967
2,857
2,845
746
783
6, 732
21,280
16, 132
25, 720
28. 570
2,481
2,465
682
936
14, 060
42, 045
28,276
26, 605
31, 077
3,665
3,494
1,099
1,332
1,052
10, 778
17, 233
7,525
10, 012
1,386
1,368
362
402
34, 905
136, 310
68,126
125, 810
145, 012
16, 426
16, 191
4,437
5,080
RETURNS WITH NO NET INCOME
20,228
3,050
7,197
17, 097
18, 659
23, 402
1,982
6,899
71, 077
37, 902
39, 999
52, 074
53, 896
69, 816
53, 611
7,594
6' 85, 658
57 40, 145
9,788
S. .5.'?2
11,096
3,983
3,846
5,009
2,097
3,512
165
10
38 4, 043
38 2, 953
38 8, 483
38 2, 737
38 2, 679
38 2, 855
397
38 110
38 4,044
38 2, 953
38 8, 484
38 2, 750
38 2, 720
38 2, 975
36 7
38 110
298
231
57 22, 905 3, C37
57 28, 498 3, 963
57 23,355 ! 1,133
1,634 1,873
57 36 180 i
31
988
112
4,262
18,109
i
98, 513
385, 969
57 216, 998
23, 326
29,719
38 23, 865
38 24, 042
5,921
228
STATISTICS OF INCOME FOR 1941, PART 2
Table 7. — Corporation returns, 1941, by net income and deficit classes and by type
of tax liability — Part I, returns for the calendar year 1941 and fiscal years ending
January through June 194^; Part II, returns for fiscal years ending July through
November 1941: Number of returns, net income or deficit, and each tax applicable
PART I. RETURNS FOR THE CALENDAR YEAR 1941 AND FISCAL YEARS ENDING
JANUARY THROUGH JUNE 1942
[Net income and deficit classes and money figtires in thousands of dollars]
Net income classes 3
Under 1
1 under 2
2 under 3
3 under 4
4 under 5
5 under 10
10 under 15
15 under 20
20 under 25
26 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 and over
Surtax on returns with no net in-
come 9 --- ---
TotaL
Returns with net income ^
Total
Number
of re-
turns
73, 065
28,021
18, 001
13, 189
11.784
28, 902
14, 360
8,798
6,553
14, 577
9.371
7,686
3,180
1,828
1,648
232
218
241, 413
Net
income ■
27, 601
40, 699
44, 431
45, 897
53,110
207, 072
175, 970
152, 781
146, 930
512, 442
660, 367
1, 193, 045
1,115,022
1, 276, 274
3,437,570
1, 604, 083
6, 026, 078
16, 719, 371
Taxable ss
Total
Number
of re-
turns
59, 858
24, 358
16, 178
12, 061
10, 988
27,211
13, 724
8,444
6,364
14, 184
9,201
7,570
3, 147
1,811
1,633
232
218
217, 182
Net
income ■
22, 936
35, 483
39, 974
41, 990
49, 545
195, 248
168, 246
146, 656
142, 705
498, 579
648. 337
1,175.067
1, 103, 463
1, 264, 600
3, 404, 717
1, 604, 083
6, 026, 078
16, 567, 707
Total tax
4,592
7,007
7,937
8, 354
10, 012
40, 978
39, 186
36, 542
37, 493
1.59, 091
240, 155
465. 579
461, 115
529, 867
1, 471, 068
689, 5.58
2, 516, 172
105
Normal
tax
3,132
4. 769
5, 351
5,654
6,768
27, 018
23, 868
20. 716
20, 346
85, 443
121, 499
212, 066
191, 904
214, 6.52
559, 836
246, 608
892, 315
2, 641, 946
Returns with net income
3— Continued
Taxable ss— Continued
Net income classes s
Total— Continued
Normal tax and surtax (or surtax only 59)
Surtax
Declared
value ex-
cess-prof-
its tax
Excess
profits
tax?
Number
of re-
turns
Net
income ^
Normal
tax
Surtax
Under 1
1,299
1, 985
2,220
2.342
2, 780
10, 832
9,191
7, 8.50
7, .546
26. 295
34, .505
61,660
56, 702
64,376
167, 568
74, 494
265, 249
105
134
224
297
322
393
1,486
1,329
1.092
1,016
3, 620
4, 704
8, 195
6, 908
6, 363
13.446
5, 406
7,050
27
30
69
36
71
1,642
4,798
6,884
8, 585
43, 732
79, 447
183, 6.57
205, 601
244, 475
730,217
363, 051
1, 351, 5.58
54, 099
20, 251
12, 880
9,329
8, 533
18, 399
7, 543
4,100
2,809
5, 273
2,819
2,062
766
481
421
59
54
20, 386
29, 530
31,793
32, 482
.38. 508
130. 672
92, 213
71, 149
62, 969
183, 245
197.634
315, 794
270, 665
340, 377
901,948
419,413
1, 303, 296
2. 785
.3. 945
4.221
4.342
5. 235
17, 769
12, 842
9,925
8,996
31,994
35. 790
56, 139
47, 693
.58,211
153, 520
59, 348
170, 520
1,158
1 under 2
1, 655
2 under 3
1,765
3 under 4
4 under 5
1,811
2, 162
5 under 10
7,228
10 under 15
5, 058
16 under 20.
■ 3, 848
20 under 25
3. 403
26 under 50
10. 014
50 under 100
10, 931
100 under 250 ...
17, 234
250 under .500 ....
14, 920
600 under 1,000
18, 862
1,000 under 5,000
49. 090
6,000 under 10,000
19. 848
10.000 and over
54, 557
Surtax on return.s with no net
105
Total
797, 000
61. 983
3, 223. 880
149, 878
4, 502, 075
683, 274
223,648
F( r footnotes, see pp. 234-230.
STATISTICS OF IXCOiME FOR 1941, PART 2
229
Table 7. — Corporation returns, 1941, hy net income and deficit classes and by type
of tax liability — Part I, returns for the calendar year 1941 and fiscal years ending
January through June 194^; Pai't II, returns for fiscal years ending July through
November 1941: Number of returns, 7iet income or deficit, and each tax applicable —
Continued
PART I. RETURNS FOR THE CALENDAR YEAR 1941 AND FISCAL YEARS ENDING
JANUARY THROUGH JUNE 1942— Continued
[Net income and deficit classes and money figures in thousands of dollars]
Returns with net income '—Continued
Taxable 38— Continued
Net income classes ^
Normal tax
surtax, 59 and declared value excess-profits tax
Number of
returns
Net
income '
Normal
tax
Surtax
Declared
value ex-
cess-prof-
its tax
5,465
3.934
3,174
2,633
2,337
5,569
2,006
894
5.53
932
433
292
94
44
40
3
3
2,403
330
133
317
440
513
591
2,182
1,376
867
702
1,883
1,805
2,706
2,114
2,060
4, 423
898
2,763
130
1 under 2 -
5, 700 793
216
2 under 3 -
7,871
9,164
10, 498
38, 674
24. 054
15, 255
12. 275
32, 060
29,794
44,333
33, 024
32, 078
75, 761
1.093
1,268
1,467
5,548
3, 634
2.333
1,916
6,305
6,356
9,326
7.042
7,084
15, 106
287
3 under 4 _- - - --
314
4 under 5 .-..
382
1, 112
10 under 15
564
15 under 20 .-
350
20 under 25 -. -
245
25 under 50 _
721
50 under 100
626
100 under 250 -
670
250 under 500 . -.
528
SOOunder 1,000
325
1,000 under 5,000
561
5,000 under 10,000 -. .-. .-
19, 395
3,080
123
10,000 and over __
41,630 j 9,475
33
1
Total
28.406
433, 969 1 82, 157
25, 773
7,188
Net income and deficit classes '
Returns with net income ^ — Continued
Taxable s*- Continued
Normal tax, surtax,^' declared value excess-profits tax, and excess
profits tax
•
Number
of returns
Net
income '
Normal
tax
Surtax
Declared
value
excess-
profits
tax
Excess
profits
taxf
Under 1 - .
132
89
58
46
45
1,159
1.742
1. 293
1,152
3,137
2,496
2,172
920
486
397
48
31
81
1.32
143
158
205
9,278
21, 393
22, 383
25, 735
110,484
175,716
333, 726
320, 170
334, 982
804, 988
326, 169
753, 893
10
16
18
20
25
1, .302
2,985
3, 082
3,519
17,796
32. 343
58, 122
53, 222
53, 297
117, 982
47, 302
112, 261
4
7
8
10
501
1,115
1,135
1,283
5,485
8,839
16, 455
15, 432
15, 449
34, 394
13, 796
32, 772
4
8
10
8
10
374
765
742
770
2.899
4.078
■ 7, 524
6, 380
6,038
12, 885
5.283
7,017
11
1 under 2 -
16
2 under 3 -
11
3 under 4 . - .
13
4 under 5 .. _ ._. ..
22
5 under 10
.521
10 under 15 - ...
1,877
15 under 20 -. -.. -
2,524
20under25.._ .
.3,293
25 under 50-
17, 403
i50 under 100
34, 795
100 under 2.50 . .
80, 853
2.')0 under 500 ^
89,128
500 under 1. COO
102, 899
1 ,000 under 5.000 .
290, 047
5,000 under 10,000
121, 884
10.000 and over ._
206, 635
Total
15, 403
3, 239, 629
503, 301
146, 692
54,795
1.011,931
For footnotes, see pp. 234-236.
230
STATISTICS OF INCOME FOR 1941, PART 2
Table J .—-Corporation returns, 1941, by net income and deficit classes and by type
of tax liability — Part I, returns for the calendar year 1941 and fiscal years ending
January through June 1942; Part II, returns for fiscal years ending July through
November 1941: Number of returns, net income or deficit, and each tax applicable —
Continued
PART I. RETURNS FOR THE CALENDAR YEAR 1941 AND FISCAL YEARS ENDING
JANUARY THROUGH JUNE 1942- Continued
[Net income and deficit classes and money figures in thousands of dollars]
Returns with net income '— Continued
asses 3
Taxable ^8 — Continued
Net income and deficit el
Normal tax, surtax, ^ and excess profits tax
'
Number
of returns
Net
income ^
Normal
tax
Surtax
Excess
profits
tax'
Under! ..
160
83
63
52
72
2,081
2,430
2,157
1,850
4.839
3.452
3,041
1,365
799
775
121
130
65
119
160
183
330
16, ,595
30, 547
37, 868
41, 727
172,692
245,114
480, 610
479, 015
556, 384
1. 622, 020
831, 182
3, 867, 259
8
14
20
23
41
2,398
4,407
5,376
.5, 915
29, 348
47,010
88, 479
83, 947
96, 061
273, 228
136. 879
600, 060
3
6
8
10
17
922
1,642
2,000
2, 159
8,913
12,930
25, 264
24, 236
28, 006
79, 662
39, 952
175, 158
g
1 under 2.
14
2under3
17
3 under 4
18
4 under 5 .
34
Sunder 10
1 077
10 under 15
2,898
4,360
15 under 20
20 under 25
5,291
25 under 50
26, 244
sounder 100
44, 554
100 under 250
102, 214
250 under .500
115, 722
600 under 1,000
140, 585
1,000 under 5,000
440, 170
5,000 under 10,000
232,218
10,000 and over..
1, 084, 923
Total
23, 470
8, 381, 872
1, 373, 214
400, 886
2, 200, 347
Returns with nel
income 3— Continued
Taxable «8— Continued
Nontaxable 58
Returns with no
net income ^
Net income and deficit classes ^
Excess profits tax o
nly
Number
of returns
Net
income ^
Excess
profits
tax'
Number
of returns
Net
income '
Number
of returns
Deficit 3
Under 1
2
1
3
1
1
3
3
1
2
7
3
4
27
39
8
CO
41
5
16
43
24
13,207
3,663
1,823
1,128
796
1,691
636
354
189
393
170
116
33
17
15
4,665
5,216
4, 457
3,907
3, ,565
11,823
7,724
6,125
4,225
13, 863
12,030
17,978
11, '559
11,673
32, 853
115,625
2.3. 127
11,454
6,865
4,730
10, 905
4,201
2,316
1,408
2.996
1,604
1,031
343
175
140
14
16
32,407
1 under 2
33, 041
2 under 3
28,088
23, 801
4 under 5
21, 179
76, 592
10 under 15
51. 262
15 under 20.
40, 052
20 under 25
31, 387
3
1
3
2
1
97
78
603
589
778
85
98
590
751
991
104, 967
sounder 100
112,033
100 under 250
156,376
2.10 uridcr .100
120,096
SOOiiiKlcr 1,000 ....
124, .525
1,000 under 5,000.-.
293, 359
5,000 under 10,000..
1
7,933
8,949
95, 789
10,000 and over
328, 607
Total
25
10. 161
11,601
24. 231
151,664
> 225, 244
1, 673, 563
For footnotes, see p. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
231
Table 7. — Corporation returns, 1941, by net income and deficit classes aiid by type
of tax liability — Part I, returns for the calendar year 1941 and fiscal years ending
January through June 1942; Part II, returns for fiscal years ending July through
November 1941: Number of returns, net income or deficit, and each tax applicable —
Continued
PART II. RETURNS FOR FISCAL YEARS ENDING JULY THROUGH NOVEMBER 1941
[Net income and deficit classes and money figiues in thousands of dollars]
Net income and
deficit classes s
Under 1
1 under 2
2under 3
3 under 4
4 under 5
5 under 10
10 under 15
15 under 20
20 under 25-.
25 under 50
50 under 100
100 under 250
250 under 500
500 under 1,000._.-
1,000 under 5,000..
5,000 under 10,000.
10,000 and over-..
Rettffns with net income '
Total
Num-
ber of
returns
6,138
2,535
1,710
1,283
1,143
2,864
1,417
978
744
1,589
1,074
895
384
233
205
14
. 9
Total 23,215 1,391,724
Net
2,407
3,684
4,215
4,473
5,136
20, 692
17,402
17,009
16,669
56, 080
75, 692
140,076
135,350
162, 231
407, 454
96, 933
226, 22!
Taxable «»
Total
Num-
ber of
returns
5,088
2,271
1,557
1,201
1,090
2,757
1,370
947
729
1,555
1, 062
885
382
231
204
14
9
Net
2,051
3,307
3,846
4,188
4,900
19, 936
16, 839
16, 461
16, 330
54, 945
74, 838
138, 664
134, 746
160, 877
405, 141
96, 933
226, 221
21,352 1,380,221 305,622
In-
come
tax 60
455
535
583
685
2,^78
2,502
2, 493
2,565
11,379
16, 847
31,475
30,293
37, 129
91, 720
22, 787
51,011
Declared
Value
excess-
profits
tax
6
11
12
12
18
58
52
3i)
49
139
167
358
228
266
715
17
27
Income tax only
Num-
ber of
returns
4,803
2, 1)57
1, .393
1,091
971
2,404
1,184
844
628
1,337
889
736
325
194
162
13
Net
in-
come 3
1,922
2,997
3, 140
3,804
4,367
17,445
14,592
14.710
14, 105
47,205
62, 807
1 16, 059
11.5, 126
135, 789
327, 772
91,893
170,409
2,165 19,039 1,144,442 251,161
In-
come
tax 60
266
412
476
530
612
2,515
2,161
2.220
2,212
9, 7.39
14, 033
26, 244
25, 690
31, 198
73, 484
21, 648
37, 722
Net income and deficit
classes ^
Under 1
1 under 2
2under 3
3 under 4
4 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 under 10,000
10,000 and over...
Total
Returns with net income ^ — Continued
Taxable s'— Continued
Income tax and d'edared value
excess-profits tax
Num-
ber of
returns
285
214
164
110
119
353
186
103
101
218
173
149
57
37
42
1
1
2,313
Net
in-
come 3
129
310
407-
383
533
2,491
2,247
1,750
2,225
7,739
12,031
22, 604
19, 620
25, 088
77, 368
5,040
55,811
235, 779
In-
come
tax so
18
44
69
53
73
363
341
273
353
1,639
2,815
5,231
4,603
5,932
18, 236
1,139
13,290
54, 461
Declared
valued
excess-
profits
tax
6
11
12
12
18
58
52
30
49
1.39
167
3.58
228
266
715
17
27
Nontaxable '^
Num-
ber of
returns
1,050
264
153
82
53
107
47
31
15
34
12
10
2
2
1
2,165 1,863
Net
in-
come 3
356
377
369
285
236
756
563
549
340
1,135
854
1,412
604
1,354
2,313
11,503
Returns with no
net income ^
Num-
ber of
returns
9,304
2,324
1,224
790
533
1,404
591
306
160
379
180
91
24
12
2 19,194
Deficit 3
2,868
3,337
3,009
2,738
2,392
9,852
7,240
5,256
3, .596
13, 249
12,091
14, 223
8,200
8,698
8,242
104, 990
For footnotes, see p. 234-236.
232
STATISTICS OF INCOME FOR 1941, PART 2
Table 8.- — Corporation returns, 19^1, by npt income and deficit classes: Total
number of returns, number of returns with dividends received, and amount of
dividends received from domestic corporations, and from foreign corporations;
also interest received on Government obligations
[Net income and deficit classes and money figures in thousands of dollars]
Returns with net income 3
Total
num-
ber of
returns
Dividends received from —
Interest received on Government
obligations
Net income
classes ^
Domestic
corporations 2!
Foreign
corporations -^
Total
Wholly
tax-
able IS
Subject
to de-
clared
value
excess-
profits
tax and
surtax '«
Subject
to sur-
tax
only 20
Wholly
tax ex-
empt 21
Num-
ber of
returns
Amount
Num-
ber of
returns
Amount
Under 1
79, 203
30, 556
19,711
14, 472
12, 927
31,766
15, 777
9.776
7,297
16, 166
10, 445
8, 581
3,564
2,061
1, 853
246
227
3,027
1,803
1,487
1,244
1,114
3,664
2,306
1,688
1,440
3,493
2,881
2,877
1,514
1,006
1,118
180
189
2,223
1,946
2,332
1,868
2,087
8,428
7,785
7,588
7,770
27, 966
52, 040
92, 392
94, 006
121,041
377, 601
212, 866
1,071,685
79
46
35
27
32
102
97
62
67
177
212
246
181
141
250
53
84
57
31
22
10
20
136
248
177
240
967
2,051
3,954
6,027
4,865
31,290
10,245
111,501
4,554
4,959
5,485
4, 976
218
121
182
160
1,351
1,561
1,966
1,645
1,392
6,850
5,043
4,244
3,023
11,383
17, 648
21, 489
18, 891
32, 641
74, 151
34, 551
59, 708
427
398
433
373
248
1,594
1,143
796
746
2,165
4,829
4,096
2,999
4,814
11,296
4,011
15, 196
2, 558
1 under 2
2,879
2,903
2,799
2under 3._
3 under 4__ .
4 under 5. .
4, 172 119
18, 169 648
13, 168 477
9, 913 415
7, 710 305
24, 263 1, 168
35, 481 2, 300
41,844 2,337
36,467 1,670
53. 260 2, 493
120, 481 7, 862
49, 731 4, 250
97, 502 4, 867
2,414
9,076
6,504
4,457
3,636
9,547
10, 705
13, 922
12, 906
13,312
27, 172
6,920
17, 731
Sunder 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 under 10,000
10,000 and over- .
Total
264, 628
31, 031
2,091,625
1,891
171, 842
532, 134 29, 592
1
297, 537
55, 565
149, 441
Returns with no net income 3
Total
num-
ber of
returns
Dividends received from—
Interest received on Government
obligations
Deficit
classes s
Domestic
corporations 25
Foreign
cori)orations 26
Total
Wholly
tax-
able 18
Subject
to de-
clared
value
excess-
profits
tax and
surtax i"
Subject
to sur-
tax
only 20
Wholly
tax ex-
empt 21
Num-
ber of
ret urns
Amount
Num-
ber of
returns
Amount
Underl..
124, 929
25, 451
12, 678
7, 655
5, 263
12, 309
4, 792
2,622
1,.568
3, 375
1,784
1, 12Z
■ 367
187
146
14
16
2,719
922
602
429
319
939
536
312
201
580
393
314
135
83
79
8
14
3,332
2.050
1,453
1,449
2,544
9, 265
4,714
1,811
2,295
7,839
10, 208
12, 657
10, 492
9,943
41,461
4.753
68
36
32
18
14
55
31
19
12
47
44
35
17
18
16
54
25
23
9
.55
338
67
56
16
127
567
263
1,952
904
5,151
4,165
3.205
3,349
2,786
2,523
8,631
5,946
4,500
2,553
8,823
11,924
35, 635
14. 654
18. 172
54. 994
60, 327
73, 432
175
99
270
1,287
729
686
306
178
419
180
173
577
419
306
156
832
778
1,492
662
556
376
3
130
2,387
1 under 2
2, 199
2 under 3
1,973
Sunder 4
87 872
1,647
4 under 5 .
5 under 10
10 under 15
15 under 20.
20 under 25
25 under 50
sounder 100
100 under 2,'50
2.50 under 500
600 under 1,000...
1,000 under 5,000.
5,000 under 10,000
114
767
31
316
129
445
566
1,786
593
770
616
689
720
4, 238
502
1,597
624
2, 456
3,973
20, 277
5, 519
9,255
23, 790
35. 821
1,516
3,049
4,993
2,281
1,644
5,090
6,606
12, 080
7,881
7, 590
30,211
23, 813
10,000 and over. . .
17, 073
3
1,382
1,296 1 57,340
14, 667
Total
204, 278
8.585 1 143.340 j 465
1 1
10,989 ,315,606 j 8,748 1 169,684
7,545
129, 629
For footnotes, sec pp. 234-236.
STATISTICS OF INCOME FOR 1941, PART 2
233
Table 9. — Corporation returns, 1941 , by net income and deficit classes: Total rnnnher
of returns, number of returns xcith dividends paid, and amount, by type of dividend
paid
[Net income and deficit classes and money figures in thousands of dollars]
Returns with net income 3
Total
number
of returns
Dividends paid >
Net income cla.sses 3
own stock 8 own. stock
Both cash and assets other
than own stock, and corpora-
tion's own stock
Number
of returns
-^— t oTl^eT^s
Amount
Number
of returns
Amount
of cash
a/id assets
other
than own
stock
Amoimt
of corpo-
ration's
own
stock
Under 1. - . ..
79, 203
30, 556
19, 711
14, 472
12, 927
31, 766
1.5, 777
9,776
7,297
16. 166
10. 445
8, 581
3. 564
2,061
1,853
246
5, 182 10. 0.^9 i 86
4.630 11.205 71
3,957 11.156 ' 64
3.317 11. 178 i 55
3, 144 12. 122 j 39
10.420 ! .53.fi88 ' 183
6. 424 51. 733 102
4.370 44. K14 59
570
385
414
395
424
2,400
1.783
922
45
43
53
50
56
175
136
78
69
175
140
135
62
38
25
52
200
88
112
144
725
667
423
446
1,893
3.479
7,951
3. 565
6.186
8,407
425
516
336
494
553
2,618
1,934
1,350
1,954
7,106
11. 047
14. 758
11. 905
10,001
10, 168
1 under 2
2 under 3 _.
3 under 4
5 under 10
10 under 15 .-
15 under 20
20 under 25
3. .')31 46.329 58 ! 1-394
2.''. under .''0
^0 under lUO
ICO under 2;0
250 under .'00
500 under 1,000
1,000 under 5,000 _ _
5,(X)0 under 10,000., ..
8,901 162.129 , 120
6.636 ' 219.658 98
6,139 : 414.933 39
2.746 1 380.276 23
1. 668 1 462. 291 4
1.641 ,1.402.085 3
223 719.428 1
4.681
5.814
4. 103
3.9.54
2, 275
9.314
1.000
10,000 and over
227 206 12,449.856 1
21, 265
5
20,900
20, 903
Total
264, 628 1 73, 135 6, 462, 939 1, 006 I 61, 893 , 1, 285
55. 238
95. 967
Returns with no net income 3
Total
number
of returns
Dividends paid «
Deficit classes 3
Only cash and as- ^ , pornorat-on's ^o* cash and a.ssets other
sets other than ownst^ck than own stock, and corpora-
own stock « ov\nstocii: tion's own stock
'
Number
of returns
1
Amount
Number
of returns
Amount
of cash
and assets
other
tlian own
stock
Amount
of corpo-
ration's
own
stock
Under 1. ..
124.929
25, 451
12. 678
7,655
5,263
12. 309
4, 792
2,622
1,568
3,375
1,784
1,122
367
187
146
. 14
16
1,815
684
440
287
215
()33
296
8,085 ' 29
5,007 15
3.195 13
2.731 : 3
1.841 6
14. 289 7
T. 700 fi
263
146
92
20
244
450
287
35
8
8
4
3
14
%
152
44
28
8
53
14
1
292
123
75
11
36
285
80
25
47
41
1 under 2
2under 3
3 under 4
4 under 5
5 under 10
10 under 15
15 under 20
20 under 25... .
189 1 6. 114 5
121 ' 3.662 5
344 17. 137 4
197 Hi. 3h3 11
126 ..
729 1
25 under 50
50 under 100
4.56 1 4 ' 31
2,014 4 ! ITS
100 under 2i0..
2,'0 under ,'00
l.=^6
' 62
32
22
3
21.494 ' 5
22.915
3,631
2 36
1 I S4
108
300
500 under 1,000
16. 304 1
29. 083 1
1.4.H1 _.
270
900
1,000 uni.cr ."i.OOO ...
5,000 un<.er 10,000 ___
2
786
10.029
10,000 ann over
3.804
Total..'
204,278 1 5,49S 181.193 111 ' 9.620 | 89 ' 1 417 1 11 454
For footnotes, see pp. 234-2.30
234
STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for basic tables 1-9, pages 1^/^-233
(Facsimiles of return forms, to which references are made, appear on pp. 324-350
' Returns filed in a State may not be a complete '" The industrial group "Investment trusts and
coverage of all corporations whose principal place investment companies" consists of corporations
of business is located therein. Conversely, a tabu- which derived 90 percent or more of receipts from
lation for a given State may include data from returns investments and which at no time during the taxable
of corporations having their principal place of busi- year had investments in corporations in which they
ness in another State. A corporation may file an owned 50 percent or more of the voting stock,
income tax return either in the collection district in
which it has its principal place of business or in the n The industrial group "Holding companies"
collection district in which it has its principal ofQce consists of corporations which derived 90 percent or
or agency. more of receipts from investments and which at
» ^. . i^ 1 V, „<• „^.,,„c c.v,„„,T, ;,i«i.,Hoo so™'' time during the taxable year had investments
2 The total number of returns shown mcludes .^^ corporations in which they owned 50 percent or
returns of mactive corporations. more of the voting stock.
3 "Net income" or "Deficit" is the amount re-
ported for declared value excess-profits tax com- 12 The industrial group "Operating-holding com-
putation adjusted by excluding net operating loss panies" consists of corporations which derived less
deduction (items 30 and 26, respectively, page 1, than 90 percent but more than 50 percent of receipts
Form 1120). from investments.
4 "Total compiled receipts" consists of gross sales ,3 ^^^ insurance companies are required to include
(less returns and allowances), 8™ss receipts fiom ^^^ ^^^ ^^ dividends, and rents in gross income,
operations jwhere mventories are not an mcome- ^^^ ^^^ ^^^ • ^^ j^ ^^^-^ ^^ ^^
determining factor), all interest received on Govern-
ment obligations, other interest, rents and royalties,
net short-term capital gain, net long-term capital
gain net gain from sale or exchange of property other
than capital assets, dividends, and other receipts
required to be included in stoss income, described
in note 27. "Total compiled receipts" excludes
nontaxable income other than tax-exempt interest
received on certain Government obligations.
deductions the earnings needed to maintain reserve
funds required by law and reserve for dividends.
See note 36.
14 Less than $500.
'5 Number of returns shown excludes returns of
inactive corporations.
6 "Normal tax" includes income and income le "Gross sales" consists of amounts received for
defense taxes reported on retiirns for a nscai year goods, less returns and allowances, in transactions
ending in period July through November 1941 ana ^hp^e inventories are an income-determining factor,
on returns for a part year beginning in 1940 and For "Cost of goods sold," see "Deductions."
ending in 1941, the greater part of the accounting
""Gross receipts from operations" consists of
amounts received from transactions in which in-
ventories are not an income-determining factor.
For "Cost of operations," see "Deductions."
period falling in 1941.
6 The surtax levied under section 15 of the Internal
Revenue Code, as amended by the Revenue Act
of 1941, applies to taxable years beginning after
December 31, 1940. Tabulated with tlie surtax for
returns with net income is a small amount of surtax
rcDorted on returns with no net income, where
's "Interest received on Government obligations,
wholly taxable" consists of interest on Treasury
receipts for the taxable year include interest on notes of the National Defense Series and obligations
obligationsof certain instrumentalities of the United issued on or after March 1, 1941, by the United
^tntps described in note 20, such interest being Ftates or any agency or instrumentality thereof,
'"' ' ' ■ • ' - '- -^ --■— reported as item 8(b), page 1, Form 1120.
>9 "Interest received on Government obligations,
subject to declared value excess-profits tax and
surtax" consists of interest on United States savings
added' to the net income for declared value excess-
profits tax computation in the process of computing
the surtax net income.
7 The excess profits tax shown is that imposed
by section 710 of the Int^^^l Revenue Code as ^^^^^ ^^^ Treasury bonds owned in principal
amended and should not be confused with the ^^^^^^ ^f over $5,000 issued prior to March 1, 1941.
declared value excess-profits tax ^^o^ r^.^Yahnlated reported as item 8(a), page 1, Form 1120.
taxable year beginning ir 1940, the amount taouiatea •
is the excess profits ta^Habiiity reported o^ corpora- ^^ ^^^^ ^^^^.^^^ ^^ Government obligations,
FormTn) ^For re uVs'S taxable Sar blgin': subject to surt^ax only" consists of interest on obli-
nw in 1941 the amount tabulated is the excess Potions of instrumentalities of the L n ted States
'^ 1. *ov ^o/.iPtinn fitem 35 Dase 1. Form 1120) (other than obligations issued under the Federal
profits tax deduct on (U em .^5,1^^^^^ ^^^^^ ^^ ^^^^^ ^^^^ ^^^ ^^ amended)
allowed in the computation 01 normal tax net income. .^^^^^ prior to March 1, 1941, reported as item 31.
8 The item "Dividends paid in cash and assets page 1, Form 1120.
other than own stock" (shown in table 6 as "Divi-
dends paid") does not include liquidating dividends. 2, "jnterest received on Government obligations.
Dividend payments are reported in schedule M, ^.^^^^^^•^y tax-exempt" consists of interest on obliga-
page 4, Form 1120. tions of States, Territories, or political subdivisions
„ r„u „ ^..ctriQi pin«ififation is based on the thereof, the District of Columbia, and United
» The \";1V^ [f Ve. wted on the reti rn. When States pos.sessions; obligations of the United States
business actiyit> reporica_ on uu j-i uiru.^ _^^ ^^^^ .^^^^^^^ ^^ ^^^ ^^^.^^^^ Spiitmihcr 1, 1917; Treasury
uu.,..i..o., W":--^ • renorted on a return, the issued on or neiore ^cpicinncr 1, lyu; ireasury
multiple businesses mr^ .^^^^^j i,,^ ^,, Dcvmbcr 1, 1940, Treasury
«•• nssiflcation IS delerminea oy im Du.M itsa at.i-ivii,j. nv.,„..„,.-„ ,>,>rtirioutnc nf inHnV,tnHr.o«.
croups ana iiiiiiui ""'"■^'-'"" '-•""■.I"' .inK ■Tm i,\,iTn \vm
occur between 1941 and 19 10 are shown on pp. 300-303. 1' 01 m 1 120.
(Footnotes continued on p. 235)
STATISTICS OF INCOME FOR 1941, PART 2
235
Footnotes for basic tables 1-9, pages -U-^SS— Continued
(Facsimiles of return forms, to which references are made, appear on pp. 324-350)
23 Amount shown as "Rents and royalties" consists 28 Where the amount reported as "Cost of goods
.^f,Tro.« amounts received. The amounts of deprecia- sold" or "Cost of operations' mcludes items of
tL^ rpnairs interest taxes, and other expenses, deductions such as depreciation, taxes, etc., these
^wh arp dpductible'from the gross amount received items ordinarily are not transferred to their specific
w rPTits and the amount of depletion, which is headings. However, an exception is made with
!wiiiPtihip from the gross amount of royalties respect to amortization of emergency facilities re-
,Jppi^pd are included in the respective deduction t orted in costs, such amount being transferred to
■f ^S,;; "Amortization."
Items.
23 "Net capital gain or loss" is the net amount of 29 Amount shown as "Repairs" is the cost of
eain or loss arising from the sale or exchange of capi- incidental repairs, including labor and supplies,
tal assets. The term "Capital assets" means prop- which do not add materially to the value of the
prtv held bv the taxpayer (whether or not connected property or appreciably prolong its life,
with trade or business) but excludes (1) stock m
trade or other property which would properly be 30 The item "Taxes paid" excludes (1) Federal
included in inventory if on hand at the close of the income tax and Federal excess profits taxes, (2)
taxable year, (2) property held primarily for sale to estate, inheritance, legacy, succession, and gift
customers in the ordinary course of trade or business, taxes, (3) income taxes paid to a foreign country or
(3) property used in trade or business, of a character possession of the United States if any portion is
which is subject to the allowance for depreciation, pjaimed as a tax credit, (4) taxes assessed against
and (4) Government obligations issued on or after jopgi benefits, (5) Federal taxes paid on tax-free
March 1 1941, on a discount basis and payable with- covenant bonds, and (B) taxes reported in "Cost of
out interest at a fixed maturity date not exceeding goods sold" and "Cost of operations."
one vear from the date of issue. Capital gains and
losses are classified as "short-term" if the assets were
held 18 months or less, "long-term 'if the assets
were held for more than 18 months. In computing
net income for the current year, a net short-term
capital gain and a net long-term capital gain or loss
are included but a net short-term capital loss is
31 The deduction claimed for "Contributions or
gifts" is limited to 5 percent of net income as com-
puted without the benefit of this deduction.
32 Amount shown as "Amortization" is the deduc-
^u •^^^ " " - - - . -. " tion provided by the Second Revenue Act of 1940
excluded. However, a net short-term capital loss ^hich allows for the amortization of the cost of
(in an amount not in excess of the net income for emergency facilities necessary for national defense,
the year in which the loss was sustained) may be
carried forward and applied against any short-term 33 included in "Other deductions" are (1) nega-
eapital gain of the succeeding taxable year not al- jiyg amounts reported under income, (2) losses by
ready oflset by capital losses of such succeeding year, abandonment, fire, storm, shipwreck, or other cas-
This carry-over is restricted to one year. uaJty, and theft, (3) salaries and wages not deducted
.1, n,„„ ^o,^;tQi ai;=PtQ" elsewhere on the return, and (4) amounts not other
2* "Net gain or loss, sales other than capital assets reported, as: Administrative, general, anc
is the net amount of gain or loss ansmg from the
Vi ise reported, as: Administrative, general, and
office expenses; advertising costs; bonuses and com-
missions; delivery charges; freight and shipping ex-
penses; payments in connection with lawsuits;
research expenses; sales discount; selling costs;
travel expenses; and unrealized profits on install-
ment sales.
34 -phe "Net operating loss deduction" is the net
operating loss carry-over reduced by certain adjust-
enue Code and is the amount usea lor corapuiauou ments. In general the net operating loss carry-
o? the dividends received credit. There is excluded over is the sum of the net operatmg losses ,f any,
from this amount dividends from corporations or- for the two precedmg taxable years. If there is
4Tzed under the China Trade Act, 1922, and cor- net mcome m the first precedmg taxable year, the
oorations entitled to the benefits of section 251 of the net operatmg loss for the second precedmg taxable
?ntS Revenue Code (corporations receiving a year is reduced to the extent such loss has been ab-
large porlioTof their^grossjincome^ fro sorbed by such net income.
35 Amount shown as "Compensation of officers"
excludes compensation of officers of life insurance
companies which file Form 1120L. Data not avail-
able.
sale or exchange of property used m trade or business
of a character which is subject to the allowance for
depreciation.
23 "Dividends, domestic corporations" is the
amount reported in column 2, schedule E, page 3,
Form 1120. This amount consists of dividends
received from domestic corporations subject to m-
eome taxation under chapter 1 of the Internal Rev-
enue Code and is the amount used for computation
within a possession of the United btates), such divi-
dends being included in "Other receipts.'
26 "Dividends, foreign corporations" Is the amount
reported in column 3, schedule E, page 3, Form 1120,
and is not used for the computation of dividends
received credit.
27 "Other receipts" includes dividends from corpo-
rations organized under the China Trade Act, 1922,
and corporations entitled to the benefits of section
38 "Other deductions" shown for the major group
"Insurance carriers, agents, etc.," includes special
deductions of life insurance companies relating to
,„..„„..„.„ u u fi* f „„♦;„„ reserve for dividends and reserve funds required by
and corporations entitled to the benents 01 section ^^^ ^^ returns in table 3 these deductions are
251 of the Internal Revenue t ode (corporations j^_ ^^^ ^25 for returns with net income and $965,969,-
receiving a large portion of their gross inco™ iroui .^2' for returns with no net income. On returns
sources within a possession of the United btates;, . , v,aiaQgg sheets in tables 4 and 5 these deduc-
sourut^s wii.iiii-i a, possession ^ -
and amounts not elsewhere reported on the return
such as- Profit from sales of commodities other than
the principal commodity in which the corporation
deals- income from minor operations; bad debts
recovered- cash discount; conditional payments
from United States Department of Agriculture;
Federal income tax paid by lessee; income from
claims, license rights, judgments, and joint \en-
tures; net amount under operating agreements; net
profit from commissaries; profit on dealing m fu-
tures- profit on prior years' collections (installment
basis)- profit on purchase of corporations own
bonds- recoveries of bonds, stocks, and other secur-
ities- refunds for cancellation of contracts, for insur-
ance management expenses, and processing ta.xes;
and income from sales of scrap, salvage, or waste
with balance sheets in tables 4 and 5 these deduc-
tions are $46,633,901 for returns with net income and
$961,912,040 for returns with no net income.
37 See notes 35 and 36.
3' Compiled net loss or deficit.
39 Compiled net loss after total tax payment.
^0 "Number of returns with balance sheets" e.x-
eludes returns of inactive corporations and returns
with fragmentary balance sheet data.
<i Amount
deposits.
shown as "Cash" includes bank
(Footnotes continued on p. '236)
236
STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for basic tables 1-9, pages 44~'~3S — Continued
(Facsimiles of return forms, to which references are made, appear on pp. 324-350
■<2 Amount shown as "Investments, Government
obligations" consists of obligations of the United
States or agency or instrumentality thereof as well as
obligations of States, Territories, and political sub-
divisions thereof, the District of Columbia, and
United States possessions.
*3 Amount shown as "Capital assets" consists of
(1) depreciable tangible assets such as buildings,
fixed mechanical equipment, manufacturing facili-
ties, transportation facilities, and furniture and
fixtures, (2) dopletable tangible assets — natural
resources, (3) intangible assets such as patents,
franchises, formulas, copyrights, leaseholds, good
will, and trade-marks, and (4) land. (Amount in
table 4 excludes land.)
" Amount shown as "Other assets" consists of
assets not elsewhere reported on return, such as:
Sinking funds; other funds; deferred charges; or-
ganization expenses; prepaid and suspense items;
interest, discount, coupons, and dividends receiv-
able; guaranty deposits, and deposits on contracts
and meters: and cash value of life insurance. "Other
assets" of life insurance companies includes market
value of real estate and bonds and stocks in excess
of book value; interest, rents, and premiums due;
and agents' balances.
" Assets and liabilities are tabulated as of Decem-
ber 31, 1941, or close of fiscal year nearest thereto.
Total assets classes are based on the net amount of
total assets after reserves for depreciation, depletion,
amortization, and bad debts. Adjustments are made
in tabulating the data, as follows: (1) Reserves, when
shown under liabilities, are used to reduce corre-
sponding asset accounts, and "Total assets" and
"Total liabilities" are decreased by the amount of
such reserves, and (2) a deficit in surplus, shown
under assets, is transferred to liabilities, and "Total
assets" and "Total liabilities" are decreased by the
amount of the deficit.
<6 Amount shown as "Other liabilities" consists of
liabilities not elsewhere reported on return, such as:
Deferred and suspense items; accrued expenses;
dividends payable; funds held in trust; borrowed
securities; outstanding coupons and certificates; and
overdrafts. "Other liabilities" of life insurance
companies includes the net value of outstanding
policies and annuities, and borrowed money, "Other
liabilities" of banks includes deposits (time, savings,
demand, etc.) and bank notes in circulation. "Other
liabilities" of building and loan associations includes
certificates of deposit.
*'' Capital stock which is not definitely designated
as either common or preferred is tabulated under
common stock.
^* Amount shown as "Surplus and undivided
profits" consists of paid-in or capital surplus and
earned surplus and undivided profits. See note 49.
«' Amount shown as "Deficit" consists of negative
amounts of earned surplus and undivided profits.
w The lower limit of each total assets class is shown
in this table. For method of tabulating "Total
assets," see note 45.
61 Amount of "Investments" consists of "Invest-
ments, Government obligations," described in note
42, and "Other investments" (items 4 and 5, respec-
tively, schedule L, page 4, Form 1120).
'2 Bonds, notes, and mortgages payable, with
original maturity of less than one year, are combined
with accounts payable to obtain the amount of
"Accounts and notes payable" shown in table 6.
53 "Bonds and mortgages payable" shown in table
6 are those with original maturity of one year or more.
5^ "Capital stock" consists of both preferred and
common stock.
55 The amount of "Surplus and undivided profits"
shown in table 6 includes surplus reserves, paid-in
or capital surplus, and earned surplus and undivided
profits.
56 Total tax consists of normal tax, surtax, de-
clared value excess-profits tax, and excess profits tax.
5' Surplus deficit.
58 In Part I of table 7, the classification by type of
tax liability takes into account normal tax and sur-
tax, declared value excess-profits tax, and excess
profits tax, whereas in Part II this classification takes
into account income tax and declared value excess-
profits tax only.
59 The classifications for returns with normal tax
and surtax, alone or in combination with other types
of tax, include returns which show surtax without
normal tax, the income on such returns consisting
largely of the partially tax-exempt interest described
in notes 19 and 20.
"> "Income tax" includes income defense tax.
CORPORATION EXCESS PROFITS TAX RETURNS
BASIC TABLES
All returns
10. Adjusted excess profits net income and deficit classes, and
method of credit computation.
1 1 . Normal-tax net income classes and method of credit compu-
tation.
Consolidated returns
12. Adjusted excess profits net income and deficit classes, and
method of credit computation.
13. Normal-tax net income classes and method of credit computa-
tion.
Returns with effective excess profits credit carry-over
14. Adjusted excess profits net income and deficit classes, and
method of credit computation.
Supplemental data from mcome tax returns of corporations
reporting excess profits tax liability
15. Major industrial groups (Assets and liabilities, receipts and
deductions).
16. Total assets classes (Assets and liabilities, receipts and de-
ductions).
237
589783—44 16
238
STATISTICS OF INCOME FOR 1941, PART 2
Table 10. — Corporation excess profits tax returns, 1941,^ by adjusted excess profits
and returns with no adjusted excess profits net income, in aggregate and by method
profits net income or deficit, excess profits credit, excess profits credit carry-over,
[Adjusted excess profits net income
and deficit
Returns with adjusted excess profits net income 2
Adjusted excess
profits net income
and deficit classes 2
Num-
ber of
re-
turns
Normal-tax net
income ^
(before excess
profits tax)
Excess
profits
net
income *
Excess
profits
credit '
Excess
profits
credit
carry-
over 8
Adju,sted
excess
profits
net
income ■
Excess
profits
tax
Income
Deficit
AGGRE
10, 656
11, 054
6,650
3,812
3,196
1,351
1,543
196, 810
400, 720
524, 950
559, 803
956, 742
829, 231
7, 640, 673
277
2,864
820
1,868
540
""i,'400^
202, 190
408, 559
534, 698
571, 062
967, 126
834, 415
7, 779, 935
111, 567
206, 872
257, 607
257, 182
421, 937
335, 335
3, 263, 703
16, 068
25, 851
29, 365
26, 745
31, 094
23, 732
137, 824
22, 372
122,311
215, 430
270, 187
500, 883
470, 197
4, 386, 614
7,773
42, 445
78, 764
107,069
221, 690
228, 247
2, 535, 633
5 under 20 . - -
20 under 50
sounder 100
100 under 250
250 under 500
500 and over
Total
38, 262
11,108,928
7,769
11,297,985
4, 854, 203
290, 679
5, 987, 994
3, 221, 621
INVESTED CAPI
6,478
6,006
3,167
1,609
1,217
481
535
103, 049
174, 732
218, 199
220, 697
325, 010
269, 971
2, 334, 963
238
117
816
1,868
540
'"i,'406"
109, 118
183, 568
228, 224
231, 369
337, 056
282, 255
2, 388, 478
54, 233
75, 031
92, 813
92, 899
124, 950
99, 836
926, 901
9,817
13,895
18, 233
17, 191
17, 030
15, 378
117,513
13, 356
65, 655
101, 393
113, 697
190, 730
165, 550
1, 346, 920
4,629
22, 718
36, 896
44, 851
84, 284
79, 820
776, 581
5 under 20
20 under 50
50 under 100
100 under 250
250 under 500
500 and over
Total -
19, 493
3, 046, 621
4,980
3, 760, 067
1, 466, 663
209, 056
1, 997, 301
1, 049, 779
INCOME METHOD—
Under 5
4,178
5,048
3,483
2,203
1.979
870
1,008
93, 761
225, 988
306, 751
339, 106
631, 732
559, 200
5, 305, 709
39
2,747
4
93, 072
224, 991
306, 473
339,694
630, 070
552, 160
5, 391, 458
57, 334
131,841
164, 794
164, 283
296, 986
235, 499
2, 336, 802
6,251
11,956
11,133
9,555
14, 064
8,354
20,311
9,016
56, 656
114, 038
156, 490
310, 153
304, 646
3, 039, 694
3,144
19, 727
41, 868
62. 218
137, 406
148, 427
1, 759, 052
5 under 20
20 under 50
sounder 100
100 under 250
2.50 under 500
500 and over
Total
18, 769
7,462,306
2,790
7,537,917
3, 387, 540
81, 623
3, 990, 693
2,171,841
INCOME METHOD-
Under 5
1,942
2,355
1,728
1,113
1,058
442
586
41,516
104, 147
139, 480
161,235
307, 603
266, 166
3,418,771
33
257
41,016
102, 887
139, 221
160, 445
306, 794
269, 694
3, 463, 084
23, 987
58, 362
69, 479
71,752
130, 065
110,217
1, 467, 795
3,274
6,504
5,074
4, 456
6,347
3,277
11,316
4,195
26, 510
56, 568
79, 521
165, 829
154,376
1,987,836
1,464
9,245
20, 818
31,620
73, 447
75, 078
1, 155, 953
5 under 20
20 under 50
.■JO under 100.
100 under 250
250 under 500
500 and over..
Total
9, 224
4,438,918
290
4,483,141
1,931,657
40, 249
2, 474, 835
1, 367. 625
INCOME METHOD—
Under5
2,236
2, 093
1,755
1,090
921
428
422
52, 245
121,841
167, 270
177,870
324, 129
293, 094
1,886,939
6
2,490
4
52, 055
122, 104
167, 252
179,248
323, 276
282, 466
1,928,374
33, 347
73, 479
95,316
92, 531
166, 921
125, 282
869, 007
2,976
5, 4,53
6, 058
5, 098
7,717
5, 077
8,995
4,821
30, 146
57, 469
76, 970
144, 324
150, 270
1, 051, 858
1,680
10,482
21,049
30, 598
63, 958
73, 349
603, 100
5 under 20
20 under .'iO
sounder 100
100 under 250
2.50 under .500
500 and over
Total
9, 545
3, 023, 388
2,500
3, 054, 776
1, 455, 883
41,375
1,516,858
804, 217
For footnotes, see pp. 266-268.
STATISTICS OF INCOME FOR 1941, PART 2
239
net income and deficit classes, and by returns with adjusted excess profits net income
of credit computation: Number of returns, normal-tax net income or deficit, excess
adjusted excess profits net income or deficit, and excess profits tax
classes and money figures in thousands of dollars]
Returns with no adjusted excess profits net income 2
Number of
returns
Normal-tax net income ^
Income Deficit
Excess
profits
net
income *
Excess
profits
deficit <
Excess
profits
credit ^
Excess
profits
credit
carry-over '
Adjusted
excess
profits
deficit '
GATE
18, 724
16, 063
5, 303
2,244
1,463
578
720
257, 478
302, 699
206, 859
173, 650
225, 286
234, 196
1, 442, 759
771
6,500
7, 795
9,419
9,639
4,864
78, 215
268, 168
322, 440
227, 954
188, 365
245, 027
252, 400
1,732,290
192, 328
340, 625
295, 249
259, 858
353, 027
346, 159
2, 996, 653
24, 578
69, 990
73, 327
77, 493
116,472
110,335
1, 506, 886
42 358
23
210
65
1,503
389
1,972
168. 513
167, 346
160, 271
233, 290
207, 373
2, 776, 821
45, 095
2, 842, 926
117, 204
3, 236, 643
4,162
4, 783, 898
1, 979, 079
3, 755, 971
TAL METHOD
11,375
9,755
3,571
- 1, 531
1,077
416
581
133, 675
147,836
106, 454
92, 387
139,001
139, 907
1, 161, 977
323
5, .521
7,669
9,061
9,621
3,481
70, 799
145, 157
171, 998
131,116
107, 834
160, 831
154, 689
1, 452, 785
95, 869
182, 830
177, 269
156, 645
240. 301
222, 172
2, 619, 395
15,870
43. 377
48, 337
54, 092
89, 368
81.896
1, 390, 022
23, 457
102 984
112 345
110,5.59
174, 223
151 459
2, 559, 536
28,306
1, 921, 237
106, 474
2, 324, 410
3, 694, 481
1, 722, 961
3 234 563
AGGREGATE
7,349
6,308
1,732
713
386-
162
139
123, 803
154, 863
100, 404
81, 263
86, 284
94,289
280, 782
449
979
127
358
18
1,382
7,417
123, 010
150, 442
96, 838
80, 532
84,196
97,711
279, 505
96, 458
157, 795
117,980
103, 213
112,726
123, 987
377, 258
8,708
26, 613
24, 990
23, 401
27, 103
28, 439
116,864
18,901
23
210
65
1,503
389
1,972
6.5, 528
55,001
^9, 712
59, 06(7.
55, 914
217. 285
16, 789
921, 689
10.729
912, 234
4,162
1, 089, 417
256, 118
521, 408
GENERAL AVERAGE
3, 250
2,702
786
330
161
73
64
49, 445
62, 736
41,434
33. 784
48, 605
38, 405
141. 122
28
770
124
273
49,020
59, 250
39, 792
33, 547
46. 078
40. 837
140, 067
36, 651
61, 636
50. 423
42, 214
58,688
53, 537
179, 954
.3,902
11,383
11,001
12, 429
11,749
13, 346
56, 521
7,784
23
189
1
530
15
1,923
27, 303
25, 751
22. 747
25, 693
583
6,417
26,427
98, 651
7,366
415, 530
8,195
408, 591
2,681
483. 104
120, 331
234, 355
INCREASED EARNINGS
4,099
3,606
946
383
225
89
75
74, 358
92,128
58, 970
47, 479
37, 680
55, 883
139, 660
421 73, 991
209 91.193
59, 807
96, 159
67, 557
60, 999
54, 038
70, 449
197, 304
4,806
15. 230
13. 989
10, 971
15, 355
15,093
60, 343
11,117
38,225
3
85
18
799
999
57, 046
46, 984
38, 117
56, 875
139, 437
21
64
973
374
49
29,250
26,965
33, 374
29,487
118,634
9,423
506, 159
2,534
503, 643
1,482
606, 312
135. 787
287,053
240
STATISTICS OF INCOME FOR 1941, PART 2
Table 11. — Corporation excess profits tax returns, 1941,^ by normal-tax net income
adjusted excess profits net income, in aggregate and by method of credit compu
or deficit, excess profits credit, excess profits credit carry-over, adjusted excess
[Money figures in
Total
number
of
returns
Returns with adjusted excess profits net income ^
Normal-tax net income classes 3
(after excess profits tax)
Number
returns
Normal-tax
net
income ^
(before
excess
profits
tax)
Excess
profits
net
income *
Excess
profits
credit ^
Excess
profits
credit
carry-
over *
AGGRE
rnder 5,000
5,000 under 20.000
20,000 under 25,000.
25,000 under 38,4fi2
38,462 under 50,000
50,000 under 100,000 -
100.000 under 250.000
250,000 under 500,000
500,000 under 1,000,000 ._
1,000.000 under 5,000.000.
5,000,000 under 10,000,000
10,000,000 and over
Deficit 7
Total
3,421
41, 788
5,697
8,256
3,815
7,972
5,898
2,239
1,205
1,047
148
132
1,739
83, 357
183
13,308
3,102
5,149
2.709
5,605
4,475
1,729
932
787
111
100
38, 262
1,299
188, 367
82,169
192, 875
147, 543
,=507,113
939, 389
842,150
941,153
2, 346, 462
1,089,276
3,821,642
1,722
11,101,159
4, 541
197, 995
84,386
198, 469
153,604
520, 962
960, 510
861,513
958, 421
2,371,057
1,096,867
3, 820, 650
69,010
11,297,985
1,688
59, 953
30, 267
73, 448
57, 142
192, 061
352, 378
332, 373
384, 537
988, 414
500, 898
1,8.35,379
45, 665
4, 854, 203
221
6,069
3,093
7,757
5,502
17,895
31,669
26,017
28, 634
53, 558
22,715
86, 289
1,261
290,679
INVESTED CAP
Under 5,000
5,000 under 20,000
20,000 under 25,000_
25.000 under 38,462
38,462 under 50,000
50,000 under 100,000
100,000 under 250,000
250,000 under 500,000
5tl0,000 under 1,000,000...
1,000,000 under 5,000,000.
5,000,000 under 10,000,000
10.000,000 and over
Deficit'
Total..
2,938
26, 546
3,150
4,141
1,707
3,476
2,348
879
479
401
66
58
1,610
134
8,880
1,686
2,519
1,193
2,272
1, 556
572
316
240
41
30
64
47,799 19,493
1,085
122,255
45, .582
96, 263
66, 440
208, 564
335, 182
282, 857
320, 866
724, 084
402, 991
1,038,506
8 3, 033
» 3, 641, 642
3,
130,
47,
100,
71,
221,
352.
293,
326,
740,
404,
1,050,
15,
3, 760, 067
1,290
36, 681
15,072
32, 785
23, 399
71, 202
112,273
102, 308
120,489
287, 643
168,481
487, 513
7,526
1, 466, 663
200
4,515
2,041
4,998
3,350
10, 991
17,634
14,687
18, 892
31,858
14,803
83,890
1,197
209, 066
INCOME METHOD—
Under 5,000 .
5,000 under 20.000
20,000 under 25,000
2.'),000 under 38,462
38,462 un<ier ,50,000
,50,000 under 100,000
100,000 under 2.50,000
2.50,000 under 500,000
.500.000 under 1.000.000 .
1,000,000 under 5.000,000.
5,0()0,(K10 under 10,000,000
10.000,00(1 and over
Deficit '
Total
483
15,242
2,547
4.116
2,108
4,496
3,550
1,.360
726
646
82
74
129
49
4,428
1,416
2, 630
1,516
3, 333
2,919
1,157
616
547
70
70
18
214
66,111
36, .586
96, 612.
81, 103
298, .549
604,206
559, 293
620,287
1,622,378
686, 285
2, 783, 136
4,754
35, 558
18,769 7,459,517
862
67, 107
36, 768
97, 597
82, 382
299, 485
607, 549
567, 663
6:11,805
1,630,219
692, 453
2, 770, 4.39
63, .598
7, 637, 917
398
2:j,272
16, 195
40, 663
33, 744
120,869
240, 104
230, 066
264, 048
700, 771
332,417
1,347,866
38, 138
3, .387, 540
22
1,564
1,052
2,768
2,162
6,904
14,036
11,. 3.30
9,741
21,700
7,911
2,398
64
81,623
For footnotes, see pp. 266-268.
STATISTICS OF INCOME FOR 1941, PART 2
241
classes, and by returns with adjusted excess profits net income and returns with no
tation: Number of returns, normal-tax net income or deficit, excess profits net income
profits net income or deficit, and excess profits tax
thousands of dollars]
Returns with adjusted
excess profits net
income ^ — Continued
Returns with no adjusted excess profits net income 2
Adjusted
excess
profits
j net
i income 2
j
Excess
profits
■ tax
Number
of
returns
Normal-
tax
net
income 3
Excess
profits
net
income <
Excess
profits
deficit *
Excess
profits
credit '
Excess
profits
credit
carry-
over 9
Adjusted
excess
profits
deficit i
GATE
2.138
68, 414
36, 052
92, 999
78, 041
284, 095
557, 693
496, 908
544, 466
1, 332, 059
572, 814
1, 900, 593
21, 723
5, 987, 994
752
23,213
12, 582
33,115
28, 770
111,001
245, 067
242, 6C2
288, 481
759, 526
330, 013
1, 134, 092
12, 407
3,238
28, 480
2,595
3,107 ,
1,106 !
2,367 j
1,423 i
510
273 j
260 I
37 i
32 I
1,667
10^374
281, 361
57, 888
96, 095
48, 855
162, 718
218, 784
177, 127
191,612
548, 263
258, 806
791, 042
8 117,204
3,221,621 45,095 8 2,725,722
31, 935
311.684
63, 353
106, 823
52, 368
172,315
237, 830
193, 060
218, 993
708, 479
294, 094
733, 856
111, 853
3, 236, 643
1,573
19
92
2,245
93
4,162
65, 177
389, 464
86, 977
171, 397
79, 459
248, 675
344, 562
279, 141
296, 679
1, 002, 953
368, 610
947, 450
503, 354
4, 783, 898
15, 805
101,674
28, 474
71.315
25, 758
83, 962
121, 181
102, 556
100, 940
494, 654
158, 910
443, 652
230, 197
1, 979, 079
- ITAL METHOD
1,814
47,110
22,360
51, 276
38, 889
127,658
217, 486
174,792
187, 005
422, 795
221, 039
478, 658
6,418
666
15, 948
7,800
18, 381
14, 341
49, 998
95, 577
85, 827
98,966 !
242, 369
130, 661
285, 905
3,341
2,804
17, 666
1,464
1,622
514
1,204
792
307
163
161
25
28
1,556
8,863
167, 507
32,517
50, 136
22, 555
82, 338
121, 781
107, 499
114,944
334, 897
171, 797
706, 403
I 106, 474
28,
196,
38,
60,
25,
94,
140,
124,
140,
509,
208,
649,
106,
875
528
319
537
348
848
490
196
898
881
134
775
580
57,402
14, 043
260, 590
75, 803
57, 373
21, 986
111, 260
56, 297
43, 691
16, 935
149, 989
62, 218
224, 620
90, 326
191, 712
70, 718
199, 332
81, 737
765, 881
439, 950
281, 004
136, 053
864, 873
431, 952
486, 756
224, 943
1, 997, 301
1, 049, 779
28, 306
« 1, 814, 762
2, 324, 410
3, 694, 481
1, 722, 961
AGGREGATE
324
21,304
13, 692
41, 723
39, 152
156, 436
340, 206
322, 116
357, 461
909, 264
351, 775
1, 421, 936
15, 305
7,264
4,782
14, 734
14, 429
61, 003
149, 490
156, 775
189, 515
517, 158
199, 351
848, 187
9,066
434
10, 814
1,131
1,485
592
1,163
631
203
110
99
12
4
111
1,511
113,854
25, 371
45, 959
26, 300
80,380
97, 003
69, 628
76, 668
213, 366
87, 009
84, 639
s 10, 729
3,061
115,156
25, 034
46,286
27,020
77, 467
97, 340
68, 864
78, 095
198, 598
85, 960
84, 081
5,273
26
1,573
19
92
2,245
93
7,775
128,875
29.605
60, 137
35, 768
98, 685
119, 942
87, 429
97, 348
237, 072
87, 606
82, 577
16, 598
1,762
25, 871
6,488
15, 018
8,823
21, 744
30, 855
31,838
19, 203
54, 704
22, 857
11,700
5,254
3, 990, 693
16, 789
9 910, 960 912, 234
4, 162 1, 089, 417
256, 118
242
STATISTICS OF INCOME FOR 1941, PART 2
Table 11. — Corporation excess profits tax returns, 1941,^ by normal-tax net income
adjusted excess profits net income, in aggregate and by method of credit compu
or deficit, excess profits credit, excess profits credit carry-over, adjusted excess
[Money figures in
NormaJ-tax net income classes <
(after excess profits tax)
Total
number
of
returns
Returns with adjusted excess profits net income 2
Number
of
returns
Normal-tax
net income '
(before ex-
cess profits
tax)
Excess
profits net
income *
Excess
profits
credit '
Excess
profits
credit
carry-over*
INCOME METHOD-
Under 5,000
5,000 under 20,000
20,000 under 25,000
25,000 under 38,462
38,462 under 50,000
50.000 under 100,000
100,000 under 250,000
250,000 under 500,000
500,000 under 1,000,000^..
1,000,000 under 5,000,000.
5,000,000 under 10,000,000
10,000,000 and over
Deficit'
Total
282
6,958
1,087
1,890
922
2,175
1,770
643
356
337
48
44
78
16, 590
31
2,179
646
1,233
737
1,659
1,496
548
308
298
39
42
139
32, 006
16, 654
45, 661
39, 578
151,334
315, 171
271, 682
324, 926
887, 404
381, 904
1, 964, 924
7,244
4, 438, 629
510
32, 773
16, 731
46, 419
40, 653
152, 158
317, 342
272, 523
322, 895
889, 736
391, 731
1, 947, 150
52, 519
4, 483, 141
189
10, 378
6,618
18, 632
15, 984
57, 886
118, 126
101, 585
119,297
345, 799
156, 623
943, 208
37, 333
1, 931, 657
1
801
513
1,435
1,265
3,327
6,955
5,248
3,672
10, 182
4,405
2,398
46
40,249
INCOME METHOD-
Under 5,000
5,000 under 20,000
20,000 under 25,000
25,000 under 38,462
38,462 under 50,000
50,000 under 100.000
100,000 under 250,000
250,000 under 500,000
500,000 under 1,000,000.. _
1,000,000 under 5,000,000.
5,000,000 under 10,000,000
10,000,000 and over
Deficit'...
Total
201
8,284
1,460
2,225
1,186
2,321
1,780
717
370
309
34
30
51
18, 968
18
2,249
770
1,397
779
1,674
1,423
609
308
249
31
28
10
9,545
75
34, 105
19, 932
50, 952
41, 525
147. 215
289, 035
287, 610
295, 361
734, 974
304, 381
818, 212
8 2, 489
» 3, 020, 888
352
34, 334
20, 026
51, 179
41, 729
147, 327
290, 206
295, 141
308, 909
740, 483
300, 722
823, 289
1,079
3, 054, 776
209
12, 894
8,577
22, 031
17, 760
62, 973
121, 978
128, 481
144, 751
354, 972
175, 794
404, 658
806
1, 455, 883
21
753
539
1,323
887
3,577
7,080
6,082
6,070
11,518
3,506
19
41,375
For footnotes, see pp. 266-268.
STATISTICS OF INCOME FOR 1941, PART 2
243
classes, and by returns with adjusted excess profits net income and returns with no
tation: Number of returyis, normal-tax net income or deficit, excess profits net income
profits net income or deficit, and excess profits tax — Continued
thousands of dollars]
Returns with adjusted
excess profits net in-
come 2— Con.
Returns with no adjusted excess profits net income ^
Adjusted
excess
profits net
income -
Excess
profits
tax
Number
of
returns
Normal-
tax net
income 3
Excess
profits net
income *
Excess
profits
deficit *
Excess
profits
credit «
Excess
profits
credit car-
ry-over 9
Adjusted
excess
profits
deficit 2
GENERAL AVERAGE
11,
6,
20,
19,
83,
185,
163,
200,
536,
230,
1, 000,
15,
63
3,856
2,257
7, .305
7,374
32, 669
81, 922
80, 068
107, 159
306, 197
131,114
598, 650
251
,779
441
657
185
516
274
95
48
39
9
2
70
837
50, 258
9,971
20, 222
8,223
35,760
42, 552
32, 669
34,464
81, 723
62, 142
36, 710
8 8, 195
1,404
51, 742
9,611
20, 068
8,183
34, 773
42, 598
31,213
34, 827
72, 776
61, 676
36, 700
3,019
56
' 59
323
18
28
2,130
40
3,064
56,624
11,896
26,207
11,521
44, 769
54, 192
36, 262
45,240
86, 224
64,032
37,725
5,347
1,194
12, 540
2.106
6,757
3,573
12, 095
14, 469
13,142
7,887
21,717
18, 966
2,397
3,489
4,165
41,376
6,595
16,207
7,836
24,995
27,451
18, 693
18, 540
37, 490
21, 368
3.432
6,207
2, 474, 835
1, 367, 625
7,366
• 407, 335
408, 591
2,681
483, 104
120, 331
234, 355
INCREASED EARNINGS
115
9,965
7,222
21,061
19, 249
73,086
154, 689
158. 261
157,311
372, 468
121, 266
420, 960
205
23
3.408
2,525
7.429
7,055
28, 335
67, 568
76, 707
82, 356
210. 960
68,237
249, 537
78
183
6,035
650
828
407
647
357
108
62
60
3
2
41
674
63,597
15, 400
25. 737
18, 078
44, 620
54, 451
36, 959
42,204
131, 643
24, 867
47, 928
8 2, 534
1,657
63, 414
15,423
26, 217
18. 837
42, 694
54, 743
37, 651
43, 267
125, 822
24, 285
47, 381
2,253
4,711
72,251
17, 709
33, 931
24, 246
53, 916
65,750
51, 167
52. 107
150, 848
23,574
44, 852
11,251
568
13, 331
4,383
8,261
5,251
9,648
16, 386
18, 697
11,316
32, 987
3,892
9,303
1,765
4,537
52, 343
10, 119
20, 114
12, 694
1,249
1
64
25, 355
29,180
32, 817
20,466
115
58, 428
3,196
6,784
52
11,020
1, 515, 858
804, 217
9,423
« 503, 625
503, 643
1,482
606, 312
135, 787
287, 053
244
STATISTICS OF INCXDME FOR 1941, PART 2
Table 12. — Consolidated '^ excess 'profits tax returns, 1941,^ by adjusted excess
net income and returns with no adjusted excess profits net income, in aggregate
normal-tax net income or deficit, excess profits net income or deficit, excess profits
and excess profits tax
[Adjusted excess profits net income and deficit
Adjusted excess prof-
its net income and
Returns with adjusted excess profits net income '
deficit classes s
Number
of con-
solidated
excess
profits tax
returns
Num-
ber of
subsid-
iaries "
Normal-tax net
income s (before
excess profits tax)
Excess
profits net
income *
Excess
profits
credit «
Excess
profits
credit
carry-
over »
Adjusted
excess
profits net
income '
Income
Deficit
AGGRE
Under 5
5 under 20 v
20 under 50
50 under 100
100 under 250
250 under 500
500 and over
Total
in
12
27
38
31
90
30
134
36
131
29
402
80
781
243
1.588
381
5.093
26, 853
20, 490
28, 406
45, 565
1, 718, 678
1, 845. 465
1, 4C0
1,400
434
5,004
27, 570
21, 736
27, 606
45. 349
746, 855
1,874,554
246
3,889
21, 594
15, 370
18, 832
31, 648
857, 706
108
651
4,734
3,989
2,414
3,233
75, 498
949, 285
90, 627
■ 30
328
1,092
2.232
6,180
10, 323
812, 894
833, 079
INVESTED CAP
Under 5
8
15
20
21
13
17
54
10
18
63
97
66
52
573
327
1,148
18, 597
17, 445
10, 157
16, 467
787, 283
"i,400
380
1,293
19, 432
18, 709
10, 026
16,877
818, 370
210
743
14,718
13, 275
6,501
9,721
407, 708
108
305
3,945
3,820
1,017
1,079
72, 876
22
170
669
1,574
2,444
5,992
337, 515
5 under 20
20 under .50
50 under 100
100 under 250 _-.
2.50 under 500
500 and over _
Total
148
879
851, 424
1,400
885, 147
452, 876
83, 150
348, 385
INCOME METHOD-
Under 5
2
12
11
9
23
12
26
2
20
27
37
65
350
208
54
3,944
8,256
3,044
18, 249
29, 098
931, 395
54
3,711
8,138
2,967
17,580
28, 472
928, 485
36
3,146
6,876
2,095
12, 331
21,927
449, 998
346
789
169
1,397
2. 154
2,622
8
158
423
659
3.737
4.331
475, 379
5 under 20
20 under 50 -
50 under 100
100 under 2,50
250 under 500
500 and over
TotaL_
95
709
994, 041
989, 408
496. 409
7.477
484, 694
INCOME METHOD-
5 under 20-
5
6
3
6
5
12
7
13
4
17
317
135
378
2,800
646
7,608
12, 057
784, 510
362
2,730
608
7,601
11,892
776, 820
256
1,923
274
5,493
9,463
351, 406
29
546
94
1, 032
673
693
52
236
225
1,047
1,731
424, 304
20 under 50
.50 under 100
100 iifKier 250
2,50 under .500
5(j0 and over
Total
37
403
807.999 1 .1 .800,013
368,815
3, 067
427, ,594
INCOME METHOD—
Under 5
2
7
5
6
17
7
14
2
13
14
33
48
33
73
54
3. 566
5, 456
2,398
10, 642
17.C42
146. 885
54
3,348
5, 408
2, 360
9, 979
16, 580
151,665
36
2,890
4, 953
1,820
6, 839
12, 464
98, 592
317
243
75
305
1,481
1,929
8
106
187
434
2, 690
2,600
51,075
5 under 20
20 under .50
sounder 100
100 under 2.50
250 under 500 . . .
500 and over.
Total
58
216
186,042
189. 304
127, ,594
4,410
57 100
For footnotes, see pp. 266-208.
STATISTICS OF INCOME FOR 1941, PART 2
245
profits net income and deficit classes, and by returns with adjusted excess profits
and by method of credit computation: Number of returns, number of subsidiaries,
credit, excess profits credit carry-over, adjusted excess profits net income or deficit,
classes and money figures in thousands of dollars]
Returns
with
adjusted
excess
profits net
income ' —
Con.
Returns with no adjusted excess profits net income '
Excess
Number
of con-
solidated
profits tax I excess
I profits tax
returns
Number
of subsid-
iaries II
Normal-tax net
income ^
Income
Deficit
Excess
Excess
iroflts net
profits
income *
deficit *
Excess
profits
credit ^
Excess
profits
credit
carry-
over 8
Adjusted
excess
profits
deficit 3
GATE
11
23
42
4, 185
4, 345
3, 878
407
55
115
34
77
7,892
8, 039
6. 399
1, 941
472
407
45
124
9,775
12. 198
12,125
1, 305
1,458
900
30
78
17, 201
17,316
16, 867
3,010
2,756
2,784
70
412
50, 323
149
52, 472
23
52, 843
11,746
12,489
5, 031
67
366
8.5. 671
869
■ 84, 252
92, 732
19, 586
28,400
482, 390
176
2,584
838, 692
51,849
1, 039, 711
1, 781, 047
948, 768
1, 690, 984
491, 636
454
3,683
1. 013, 740
52, 867
1, 21S, 333
23
1. 065. 891
986, 763
1, 736, 613
ITAL METHOD
8
18
37
3, 885
4, 025
3,674
311
50
59
25
44
4,598
4,964
3,843
i:374
378
249
34
90
7, 595
10, 047
9,901
1,116
1,140
635
27
42
11,392
11, 574
10. 704
2,611
1,876
1,111
53
351
37, 926
149
40, 491
39, 387
9, 556
8,718
2,938
50
306
62, 512
.535
60, 465
66. 728
15, 262
21, 775
199, 902
159
2,436
7.37, 125
51, 849
939, 127
1,670,353
917, 367
1, 649, 389
204, 902
366
3,306
865, 032
52, 533
1, 070, 692
1, 804, 591
947, 597
1, 683, 326
AGGREGATE
3
5
5
300
320
204
96
5
55
9
33
3, 294
3,075
2, 556
567
94
1.58
11
34
2, 180
2, 151
2,224
190
318
265
12
36
5.810
5,742
6,163
399
880
1,673
17
61
12, 398
11.982
2.3
13, 455
2,190
3,771
2,092
17
60
23, 159
333
23, 787
26, 004
4, 324
6,625
282, 487
17
148
101, .567
100, 584
110,694
31,401
41, 595
286, 734
88
377
148, 707
333
147.641
23
161,300
39, 166
53, 287
GENERAL AVERAGE
'
2
5
2
11
180
445
200
414
114
382
76
63
18
56
88
9
32
768
709
722
190
247
91
3
6
369
347
449
106
224
472
8
37
4,470
4, 319
23
5,201
671
1,616
824
10
25
12.583
13, 202
14, 192
3. 140
4,180
254, 031
9
87
37. 827
37, 017
42, 119
13, 643
18, 791
255, 525
46
200
56, 642
56, 207
23
63,180
17,888
25, 114
INCREASED EARNINGS
3
37
70
174
1,200
1, 208
28,456
31,208
3
4
2
9
9
7
8
3
22
2
30
24
35
61
120
2,849
1,412
5, 441
7,928
10, 576
63, 739
'""333"
120
2,661
1,442
5,396
7,663
10, .585
63, 568
90
2.174
1.502
5,714
8,254
11,811
68, 575
19
504
5
38
70
293
1.519
1, 184
17, 758
656
2,155
2,445
22, 805
42
177
92, 066
3.33
91. 434
98.120
21,278
28,174
246
STATISTICS OF INCOME TOR 1941, PART 2
Table 13. — Consolidated^'^ excess profits tax returns, 194i,^ by normal-tax net
with no adjusted excess profits net income, in aggregate and by method of credit
or deficit, excess profits net income or deficit, excess profits credit, excess profits
[Normal-tax net income classes and
Nocmal-tax net in-
come classes '
Total
number
of con-
solidated
excess
profits
tax re-
turns
Returns with adjusted excess profits net income '
(after excess prof-
its tax)
Number
of con-
solidated
excess
profits
tax re-
turns
Number
of sub-
sidiar-
ies "
Normal-tax
net income '
(before ex-
cess profits
tax)
Excess
profits
net in-
come *
Excess
profits
credit '
Excess
profits
credit
carry-
over •
Adjusted
excess
profits
net in-
come 2
AGGRE
Under 5.--
6
33
59
57
5 under 20 .
8
20
17
10
23
22
121
1.097
1,603
248
2.285
1,636
142
1, 258
756
11
67
56
54
861
744
20 under 50-.
50 under 100
100 under 250
121
36
58
9,350
13, 985
6,954
427
6,424
250 under 500
84
31
60
14, 069
16,934
8,137
996
7,646
500 under 1,000
85
34
107
30, 130
29, 518
17, 492
1,812
10,043
1,000 under 5,000
138
52
305
143,811
153, 714
87, 184
11,480
.54, 795
5,000 and over
87
43
994
1, 643, 919
1,646,911
822, 625
75, 122
748, 591
Deficit'
27
2
9
8 36
9,323
4,737
656
90.627
3,920
833.079
Total
697
243
1,588
'1,844,065
1, 874, 554
949, 285
INVESTED CAP
Under 5. .
5
25
46
43
86
63
60
92
68
26
5 under 20.
6
17
9
20
19
19
28
28
2
8
20
12
36
38
57
202
497
9
99
981
859
5, 992
9,386
17,810
84, 978
729, 954
8 36
224
2,170
890
10, 640
12, 239
17, 714
88, 135
743,812
9,323
885, 147
138
1,193
364
5, 559
5,629
9, 939
44, 637
380, 681
4,737
11
67
39
365
698
836
7,467
73,010
656
45
825
443
4,616
5,817
6.844
35, 895
289, 980
3.920
20 under 50 . .
50 under 100
100 under 250
250 under 500- -
500 under 1,000
1,000 under 5,000
5,000 and over
Deficit'
Total
514
148
879
« 850, 024
452, 876
83, 150
348, 385
INCOME METHOD—
Under5 -.
1
8
13
14
35
21
25
46
19
1
183
Sunder 20-
2
3
8
16
12
15
24
15
2
3
10
22
22
50
103
497
22
116
744
3,359
4,683
12, 320
58. 834
913, 965
24
116
746
3,345
4,694
li;804
65. 580
903, 099
4
64
393
1,395
2,507
7.554
42. 547
441,945
17
61
298
976
4,013
2,112
10
36
302
1,808
1,829
3,199
18, 900
458, 610
20 under 50
50 under 100
100 under 250
250 under .500
500 under 1,000
1,000 under 5,000
5,000 and over
Deficit'
Total..
95
709
994,041
989, 408
496, 409
7,477
484. 694
INCOME METHOD—
Under 5-
5 under 20 '
6
6
21
9
19
8
1
2
2
7
3
6
9
7
1
2
2
10
7
19
23
429
9
74
182
1,386
1,169
4,460
23,812
776, 907
11
74
174
1,407
1,150
4,403
23, 888
768, 906
6
31
48
834
586
583
9.681
415, 823
20 under ,50
32
121
508
441
3,037
12, 221
352, 454
50 under 100
100 under 250
250 under 500
500 under 1,000
1,000 under 5,000. ---
5,000 and over
Deficit' -
29
108
753
1,941
236
Total
83
37
493
807, 999
800, 013
368, 815
3,067
427, 594
INCOME METHOD—
Under 5.
1
2
7
7
14
14
16
27
11
1
5 under 20-
1
1
6
9
9
9
15
8
1
1
8
12
15
31
80
68
12
42
562
1.973
3.514
7, 860
35, 022
137, 058
12
42
,572
1,938
3, 544
7,401
41, 692
134, 194
4
32
272
886
2, 066
4,517
30, 326
89, 490
3
5
253
975
1,243
2,616
9,219
42, 787
20 under 50-
.50 under 100
100 under 250
250 under 500
500 under 1,000
1,000 under 5,000
5,000 and over
Deficit'-.-
17
32
190
224
2,072
1,870
Total
100
58
216
186, 042
189. 394
127, 594
4,410
57. 100
For footnotes, see pp. 266-268.
STATISTICS OF INCOME FOR 1941, PART 2
247
income classes, and by returns with adjusted excess profits net income and returns
computation: Number of returns, number of subsidiaries, normal-tax net income
credit carry-over, adjusted excess profits net income or deficit, and excess profits tax
money figures in thousands of dollars]
Returns
with ad-
justed ex-
cess profits
net in-
come 2—
Continued
Returns with no adjusted excess profits net incomes '
Excess
profits tax
Number
of con-
solidated
excess
profits tax
returns
Number
of sub-
sidiaries "
Normal-tax
net income ^
Excess
profits
net in-
come *
Excess
profits
deficit <
Excess
profits
credit '
Excess
profits
credit
carry-over «
Adjusted
excess
profits
deficit '
GATE
.
6
25
39
40
85
53
51
86
44
25
454
8
46
64
98
257
, 262
344
966
1,210
428
19
318
1,286
2,696
13,958
19,832
35,901
204,059
735, 671
9 52, 867
132
517
1,444
3,863
17, 524
26,069
45, 529
341,761
724, 694
56, 799
1,679
2,593
4,190
8,797
30,003
50,640
81, 443
549,024
973,734
263,789
1,965,891
259
1,041
2,218
4,675
9,000
11,757
27, 262
321, 531
492, 668
116,353
1,836
19
403
293
3,240
3,800
5,012
29, 743
446, 903
2,223
491,636
---
3,241
5,159
9,831
21, 904
36, 592
63.431
529. 224
741.928
323. 467
3,683
» 960, 873
1, 218, 333
23
986, 763
1,736,613
ITAL METHOD
5
19
29
34
66
44
41
64
40
24
366
7
38
49
82
206
235
320
819
1,140
410
15
227
924
2,296
10, 735
16, 636
29, 155
151,819
653. 226
8 52, 533
128
435
1,098
3,451
13, 495
22, 613
38, 266
291,905
642, 626 .
56,675
1,674
2,030
3,638
7,369
24,710
46. 269
69, 809
489, 288
. 896. 568
263.236
259
697
2,070
4,447
7,319
10,077
23, 538
304, 994
477,891
116,306
1,830
16
390
173
2.463
2,973
3,476
20,412
172, 778
2,223
204,902
2,387
4,755
8,535
18,864
33,953
55,285
502, 696
732, 033
322,986
3,306
» 812, 499
1.070,692
1,804,591
947, 597
1.683,326
AGGREGATE
3
13
120
778
827
1,536
9,331
274, 125
1
6
10
6
19
9
10
22
4
1
1
8
15
16
51
•X
24
147
70
18
4
92
362
399
3,223
3,196
6.746
52,240
82,445
8 333
4
83
346
412
4,029
3,456
7,263
49, 856
82.068
124
5
562
552
1,428
5,293
4,371
11,634
59, 736
77. 165
553
161,300
6
344
148
228
1,681
1,680
3,724
16,538
14, 777
46
39. 166
854
-----23-
404
1.296
3.040
2.640
8.145
26. 528
9,894
481
286, 734
88
377
» 148, 374
147, 641
23
53, 287
GENERAL AVERAGE
2
11
18
352
271
253
5,442
249, 177
5
4
5
14
4
3
10
1
15
42
14
5
62
48
73
137
335
2,442
1,613
2,428
24, 269
25. 345
64
116
350
3. 266
1.608
2.688
22, 598
25. 516
"I
538
141
645
4,158
2,183
3,650
28,238
23, 628
344
19
228
1,337
1,449
2,145
9,970
2,397
842
64
23
570
2.298
2.044
3,122
15,660
514
255, 525
46
200
56.642
56. 207
23
63,180
17,888
25, 114
INCREASED EARNINGS
1
1
6
1
5
5
7
12
3
1
1
1
• 8
1
9
13
19
85
22
18
4
19
225
64
781
1.584
4,319
27,970
57. 100
8 333
« 91. 732
4
18
230
62
763
1,848
4,575
27,258
56, 552
124
5
25
411
783
1,136
2,188
7,984
31,498
53,538
553
6
1
2
102
425
556
1,284
3,890
24, 948
12
129
341
726
344
231
1,579
6,567
12, 380
46
21,278
742
596
5,023
10,867
9,381
481
31. 208
42
177
91,434
98,120
28.174
248
STATISTICS OF INCOME FOR 1941, PART 2
Table 14. — Corporation excess profits tax returns, 1941,^ in which excess profits
profits net income and deficit classes and hymethod of credit computation: Number
excess profits credit, effective excess profits credit carry-over, adjusted excess profits
[Adjusted excess profits net income and deficit
Adjusted excess profits
net income and "deficit
classes 2
Returns with adjusted excess profits net income '
Number
of returns
Normal-tax net in-
come 3 (before ex-
cess profits tax)
Income
Deficit
Excess
profits net
income <
Excess
profits
credit *
Excess
profits
credit car-
ry-over 8
(effective in
entirety)
Adjusted
excess
profits
net in-
come 2
AOGRE
Under 5
Sunder 20
3,196
3,186
1,779
939
657
241
202
80, 570
153, 757
190, 163
195,051
256, 881
198,089
1, 188, 602
133
272
752
1, 868
540
82, 446
155,753
192, 995
197, 405
^57, 361
201,325
1,211,813
44, 264
80, 838
99,411
102, 587
125; 868
98, 486
626, 106
16, 068
25, 851
29, 365
26, 745
31, 094
23, 732
137, 824
6,905
34, 928
57, 052
66, 813
101, 884
81, 743
456, 813
20 under 50
50 under 100
100 under 250
250 under 500
500 and over
1,400
Total
10, 200
2,263,112
4,965
2, 299, 097
1, 177, 560
290, 679
806, 138
INVESTED CAP
Under 5.
5 under 20
2,046
1,925
1, 033
508
350
137
122
43, 181
75, 386
103, 115
100, 519
121,750
104, 412
728, 440
133
62
752
1,868
540
45, 583
79, 511
108, 290
106, 543
125, 708
110,536
740, 763
21, 558
35,218
51, 343
50, 660
52, 680
47, 933
389, 715
9,817
13, 895
18,233
17, 191
17,030
15, 378
117,513
4,292
21,096
33,057
36, 198
54, 301
46, 626
233, 233
20 under 50
50 under 100 ...
100 under 250
250 under 500
500 and over
1,400
Total
6,121
1, 276, 805
4,755
1, 316, 933
649, 107
209, 056
428, 804
INCOME METHOD—
Under 5
1,150
1,261
746
431
307
104
80
37, 389
78, 371
87, 047
94, 532
135, 130
93, 677
460, 161
36, 862
76, 242
84, 705
90, 863
131, 653
90, 789
471,050
22, 706
45, 620
48, 068
, 51,927
73, 189
50, 553
236, 391
6,251
11,956
11, 133
9, 555
14, 064
8, 354
20,311
2,613
13, 833
23,995
30, 615
47, 582
35,117
223, 580
Sunder 20 ..
210
20 under 50...
50 under 100..
100 under 250
250 under 500
500 and over
Total .
4,079
986, 307
210
982, 164
528, 453
81, 623
377, 334
INCOME MET^OD—
Under 5
555
62;}
382
213
161
46
44
18, 433
38, 955
38, 693
45, 809
61,824
36, 655
352, 472
18, 036
37, 639
37, 690
43, 700
59, 499
36,1.55
3.38, 795
10, 910
22, 024
19, 463
24, 571
29, 583
18, 952
157,925
3,274
6, 504
5,074
4,456
6,347
3,277
11,316
1,279
6, 661
12,290
15, 343
25, 340
1.5, .520
170,405
Sunder 20..
20 under 50 . . .
160
50 under 100. .
100 unfler 250
250 under 500
500 and over.
Total
2,024
592. 840
160
571,515
283,427
40, 249
252, 838
INCOME METHOD-
Under S
595
ft38
364
218
116
58
3.6
18, 956
.39,416
48, 3.54
48, 723
73, 306
57, 022
107, 690
18, 826
38, 603
47,014
47,163
72,154
54, 035
132, 255
11,796
^3, .596
28, 605
27, 356
43, 606
31,601
78, 466
2,976
5, 4.53
0, 058
5, 098
7,717
5,077
8,995
1,333
7,172
11,705
1.5,272
22, 243
19, 597
47, 175
5 under 20
50
20 under .50
sounder 100
100 under 2.50
2.50 under .''^OO '..
500 and over
Total
2,055
393, 468
60
410, 649
245, 026
41,375
124, 496
For footnotes, see pp. 206-268.
STATISTICS OF INCOME FOR 1941, PART 2
249
credit carry-over is effective in reducing income subject to tax, by adjusted excess
of returns, normal-tax net income or deficit, excess profits net income or deficit,
net income or deficit, and excess profits tax
classes and money figures in thousands of dollars]
Returns
witli adjust-
ed excess
profits net
income ' —
Continued
Excess prof-
its tax
Returns with no adjusted excess profits net income 2
Number
of returns
Normal-tax net Lu-
cerne 3
Excess
profits net
income *
Excess
profits
deficit *
Excess
profits
credit '
Excess
profits
credit car-
ry-over 6
(effective
portion only)
Adjusted
Income
Deficit
profits
deficit '
GATE
2,409
12, 181
20, 9C9
26, 626
45, 260
39, 687
263, 200
3,660
1,793
476
218
139
62
43
85, 722
94, 436
65, 326
59, 864
93, 567
89, 469
225, 168
45
28
32
214
628
"'"'4,'2i9'
88, 863
99, 015
67,454
63, 369
97, 002
92, 740
260, 149
56, 616
71, 235
53, 678
61, 902
82, 536
77, 824
222, 775
14.447
18,814
11, 396
10. 377
13,772
14. 606
37, 169
8,198
19, 629
16 353
21 871
86, 053
410, 272
6,291
713, 541
5.166
768, 592
616, 566
120, 571
188 639
ITAL METHOD
1.600
7,361
12, 068
14, 428
24, 144
22, 543
133, 965
2, 365
1,187
318
148
105
47
32
49, 682
52, 629
38,751
36, 840
64, 370
. 59,826
163, 729
45
28
32
166
628
52, 759
57, 038
41, 073
39, 785
68, 726
61, 261
197, 876
30, 977
38. 387
31, 8.57
32, 626
56. 298
49. 734
167, 313
9,958
12,716
7,626
6,419
11,903
11,282
30, 403
5,093
12, 625
9,774
11,399
16, 106
17, 584
70, 405
4,219
215, 998
4,202
465, 826
5, 118
518, 60S
407, 192
90, 307
142, 985
AGGREGATE
909
4,821
8,841
12, 198
21, 116
17, 144
129, 246
1,195
606
158
70
34
15
11
36, 041
41,807
26, 576
23, 014
29, 197
29,643
61, 439
36, 104
41,976
26, 381
23, 584
28, 277
31, 489
62, 273
26, 639
32, 848
21, 821
19, 276
26, 238
28,090
56, 462
4,489
6. 098
3,770
3,958
1,869
3,324
6,766
3.106
7.004
4,953
4,955
48
5 124
14, 648
194, 274
2,089
247, 716
48
260, 084
209, 375
30, 264
45 554
GENERAL AVERAGE
447
2,326
4,538
6,128
11,263
7,583
103, 779
603
320
70
34
18
6
5
13. 982
16, 424
8,613
10, 500
16, 651
11,864
39, 321
13, 722
16, 449
8,477
11, 169
16, 659
13, 393
38, 806
8,642
12, 662
6,725
8,743
16, 344
12, 484
36,602
2,066
2,297
1,402
2,266
1,225
880
2,178
1 408
48"
2, 112
2,411
2,240
8,883
136, 064
1,066
117,346
48
118,674
101, 092
12, 302
23, 167
INCREASED EARNINGS
462
2,495
4,302
6,070
9,854
9,661
26, 466
592
286
88
36
16
9
6
22, 059
25, 383
17, 962
12, 514
12, 545
17, 789
22, 117
22, 381
25, 528
17, 904
12, 415
11,618
18, 095
23, 469
16, 997
20, 296
15, 096
10, 534
10, 894
15, 606
18, 861
2,425
3,801
2,368
1,701
644
2,444
4,578
1 697
3, 522
0 841
*> 544
3 134
2,884
6.766
58,210
1,033
130, 369
131,410
108, 283
17, 962
22 387
250
STATISTICS OF INCOME FOR 1941, PART 2
Table 15. — Corporation incovie tax returns showing excess profits fax deduction,
assets and liabilities, compiled receipts, compiled deductions, compiled net profit,
profits tax, excess profits tax, total tax, compiled net profit less total tax, and divi
{except assets and liabilities) in total only
[Money figures in
Compiled net pmfit loss total tax (52 less 59)
Dividends priid: '"
("ash and assets other than own stock <«
Corporal ir)n's own stock
Number of returns
Assets:
Cash '5
Notes and accounts receivable (less reserve)
Inventories
Investments, Government obligations i*
Other investments
Gross capital assets " (except land)
Less reserves
Land
Other assets "
Total assets "
Liabilities:
Accounts payable
Bonds, notes, mortgages payable:
Maturity less than 1 year
Maturitv 1 vear or more
Other liabilities 20
Cai)ital stock, preferred
Capital stock, common 21
Surplus reserves
Surplus and undivided profits 22 _
Less deficit -^
Total liabilities »
Receipts:
Gross sales -* «.
Gross receipts from operations
Interest on Government obligations:
Wholly taxable 26
Subject to declared value excess-profits
tax and surtax. 2'
Subject to surtax only 2s
Wholly tax-exempt 2»
Other interest
Rents and royalties so
Net capital gain ^i
Net gain, sales other than capital assets 3«
Dividends, domestic corporations ^3
J)ividends, foreign corporations 3i
Other receiiJts '^
'J'otal compiled receipts
Deductions:
Cost of goods sold 37
Cost of operations s'
Compensation of ofTicers
Rent paid on business property
Re pairs 3'
Bad debts. -
Interest paid
Taxes paid ''
Contributions or gifts ■"'
Depreciation
Jiepletion
Amortization <'
Net long-term cajiital loss 3i
Net loss, sales other than capital assets 3'
Other deductions "..
Total compiled deductions
Compiled net profit (35 less 51)
Net income *■■ (52 less (2(;-|-27))
\el operating loss deduction <*
Normal tax
Surtax -
Declared value cxcess-jirofits tax
Exci'ss profits tax <'
Total lax
For footnotes, sec pp. 266-268.
STATISTICS OF INCOME FOR 1941, PART 2
251
1941,^ by major industrial groups for returns ivith balance sheets: Number of returns,
net income, net operating loss deduction, normal tax, surtax, declared value excess-
dends paid by type of dividend; also, for returns with no balance sheets, the same items
thousands of dollars]
Returns with balance sheets, by major industrial groups >2— Continued
Mining and quarrying — Continued
Manufacturing
Metal
mining
Anthra- Bituminou.
cite coal, lignite
mining peat, etc.
Crude pe-
' troleum and
natural gas
production
i Non-
metallic
mining anc
quarrying
Mining anc
quarry-
ing not
allocable
2
Total
manu-
facturing
Food
and
kuidred
products
Bever-
ages
78
21 247
135
262
16. 533
1,136
508
1
129, 235
44. 846
74, 563
78, 679
527, 678
731, 641
441, 188
8,558
42, 829
1, 196, 840
743
2,240
608
376
424
8,472
4,567
4
154
16, 360
34. 585
9,518
10, 825
17, 922
197, 623
107, 042
3,707
3, 828
7,247
18, 097
7.168
1,269
10, 020
149, 358
76, 157
850
1,608
33. 607
26, 536
35, 507
10. 558
15, 571
223, 129
98. 951
8,283
7,700
34
12
3, 837, 958
6. 103, 238
9, 650. 471
1. 919, 926
4, 008 053
21,796,657
10, 013, 630
869, 082
673, 871
192, 676
298, 753
634, 305
55, 823
217, 742
1,201,921
525. 996
62, 365
45, 824
45. 512
56; 064
115,146
12, 473
18, 127
284, 591
93, 063
31,653
16, 575
:
'i
133
43
7
9
ir
8,454
187, 327
119,461
261, 940
144
38, 845, 626
2. 183, 412
487,079
11
53, 197
2,774
40, 603
,58, 964
19, 639
631, 966
41, 780
353. 770
5.852
1, 739
799
405
1.535
53
1,099
358
2,640
175
15, 158
4,726
16, 788
13, 775
4,988
57, 169
7,238
72, 745
5,260
6,318
3.051
21.898
9.269
3.110
32, 133
2,565
44, 836
3,719
11,052
5,743
18,648
14, 754
11,838
86. 846
15. 905
101, 699
4, 545
4
2
48
10
3. 419, 876
1,214.817
2, 712, 546
5, 032, 328
3, 239. 570
9, 597. 367
2.711.454
11,036.526
118,858
142,889
112,922
99, 885
158. 260
207, 934
658, 381
148. 6.30
672; 573
18, 062
39, 269
29, 393
36, 066
48. 965
9,113
98, 930
12. 349
213,314
320
12
13
14
15
25
17
55
19
1, 196, 840
8,454
187, 327
119,461
261,940
144
38, 845, 626
2. 183, 412
487, 079
21
470, 595
7, 146
67
373
7
256
1,798
17, 752
4,869
(50)
5
--
19
261, 400
15, 605
5
52
3
23
308
2,906
51
95
909
1
1,775
52. 420
24, 484
(50)
2
185, 234
5,391
3
58
3
32
208
1,166
74
135
1,065
3
1,114
214
81
50, 483. 466
1, 15i;611
1, 050
6.090
778
4.685
49. 036
122, 725
8,413
9,425
234, 897
57. 809
208. 787
3. 399. 200
14, 769
22
2.50
11
309
3. 640
5,808
368
.395
12.542
6.894
15.655
842, 769
1.750
15
49
6
100
303
1, ,341
22
100
1,887
(50)
3,549
22
23
(50)
649
774
452
231
179
(50)
533
2,965 12
286
301
33, 678
64
1,688
a
15
(JO)
51
31
i
33
34
519, 225
22, 735
283, 134
79. 724
194, 487
295
52. 338. 773
3, 459; §62
851,892
35
297, 839
4,853
2, 335
428
7, 974
59
3,386
15, 275
186
14, 937
42, 704
305
1,026
91
13, 762
14,613
; 2,816
578
33
25
49
604
2
710
228
187,995
10,379
4,195
1,128
7,921
212
1,107
9, 304
22
7,809
6,173
19. 024
15.116
1,700
208
311
279
1, 338
2,387
27
5,799
9,575
97. 468
2,679
5, 358
1,154
6. 662
822
1,250
6.621
106
7.800
8,951
96
402
242
14,813
139
62
34, 97.5, 313
774, 345
667. 614
133.658
759, 241
71, 782
171,239
1, 255, 438
19, 737
877, 380
29, 991
78, 355
120, 278
25. 095
4, 286, 713
2, 478. 070
2,737
36,144
10. 600
32.110
6:209
9,039
58, 015
1, 057
42, 265
37
426
18,910
1,311
380, 654
424. 973
610
12.862
2,198
5.499
1, .347
2, 381
147, 430.
650
13, 722
(50)
36
37
38
39
40
41
42
43
n
11
4
1
1
7
12
45
46
•17
42
321
59
19, 907
68
17
5,720
629
301
126,472
1^
i'l
1,320
6
50
405, 160
21, 078
256. 534
61,569
154, 424
249
44, 246, 180
3, 083, 583
739, 075
51
114, 065
113,802
n
1,657
1,657
26, 600
26, 573
191
18, 155
18, 154
53
40, 062
40, 027
66
46
46
8. 092, 592
8. 087, 129
31, 138
376, 280
375, 960
1.710
112.817
112.711
23
52
53
54
15,319
4,487
6
20,820
281
83
5
396
4,616
1,335
87
5,714
.3,615
1,050
19
2,542
7.368
2,142
160
7, 502
8
2
1. 252. 632
364:<)43
37, 8^0
2. 562, 507
70, 159
20. 406
1. 735
66, 817
22. 015
6.374
255
18, 145
55
56
57
58
40, 631
764
11,752
7,226
17, 172
17
4, 217, 621
159.117
46. 789
59
73, 434
893
14, 848
10, 929
22. 890 29
3, 874, 971
217, 163
66,028
60
75,111
704
8,402
273
8.045
100
19,957 1 17
314 1
1, 942. 319
34. 626
143. 706
803
34, 353
345
61
62
252
STATISTICS OF INCOME FOR 1941, PART 2
Table 15. — Corporation income tax returns showing excess profits tax deduction,
assets and liabilities, compiled receipts, compiled deductions, compiled net profit,
profits tax, excess profits tax, total tax, compiled net profit less total tax, and divi
{except assets and liabilities) in total only — Continued
[Money figures in
Number of returns -
Assets:
Cash's
Notes and accounts receivable (less reserve)
Inventories
Investments, Government obligations '«
Other investments
Gi OSS capital assets '' (except land) -
Less reserves
Land
Other assets "
Total assets i' -
Liabilities:
Accounts payable
Bonds, notes, mortgages payable:
Maturity less than 1 year
Maturity 1 year or more
Other liabilities 2"
Capital stock, preferred
Capital stock, common 21
Surplus reserves
Surplus and undivided profits 22
Less deficit 23
Total liabilities i*
Receipts:
Gross sales -'*
Gross receipts from operations 25
Interest on Government obligations:
Wholly taxab'e -a
Subject to declared value excess-profits tax
and surtax. 2'
Subject to surtax only 28 _.
Wholly tax-exempt -''
Other interest
Rents and royalties 3" --
Net capital gain 3i 1
Net gain, sales other than capital assets '2
Dividends, domestic corporations 33. __ _
Dividends, foreign corporations 3<
Other receipts 35
Total compiled receipts 36
Deductions:
Cost of goods sold 3'_
Cost of opeiations 3'
Compensation of officers
Rent paid on business property
Repairs 38
Bad debts
Interest paid
Taxes paid 3e __
Contributions or gifts "
Depreciation ._. --
Depletion .. ---
Amortization <'
Net long-term capital loss " _ - .
Net loss, sales other than capital assets 32
Other deductions <2
Total compiled deductions.
Compiled net profit (35 less 51)
Net income '3 (52 less (26-)-27)) ----
Net operating loss deduction '*
Returns with balance sheets, by major
industrial groups 12 — Continued
Manufacturing — Continued
Tobacco
manufac-
tures
17
Cotton
manufac-
tures
45, 154
172, 624
480, 027
5,714
67, 367
170, 777
60, 354
5,725
4,501
891, 534
18, 924
60, 086
75, 560
94, 729
325, 201
12, 989
204, 175
14
891, 534
1,119,568
768
4
87
5
82
663
2,341
12
45
3,550
661
3,952
1, 131, 739
902, 100
5
2,426
660
434
244
3, 053
13, 166
175
4,292
Normal tax -
Surtax -
Declared value excess-profits tax -.
Excess profits tax " - •
Total tax- ■
Comr)iled net profit less total tax (52 less 59).
Dividends paid: *"
('ash and assets other than own stock <»..
Corporation's own stock
138,783
138, 695
28,215
8,234
2
18, 003
54, 454
329
Textile-
mill
products,
except
cotton
910
41,622
75, 919
155, 352
7,390
14, 679
447, 503
232, 765
10, 836
6,796
527, 333
27, 167
29, 549
12, 448
45, 564
39, 411
186, 259
34, 203
156, 348
3,616
527, 333"
832, 392
6,289
5
38
2
35
374
2,598
49
174
653
34
5,547
848, 190
639, 879
2,887
9,434
733
10, 405
337
2,264
16, 913
168
13, 295
11
151
493
716
46, 555
743, 241
104, 949
104, 912
872
84, 329
70, 844
17, 144
4,941
629
31,^4^.
53, 861
51. 089
18, 771
630
124, 889
222, 027
468, 582
24,412
72, 574
789, 669
374, 629
24, 168
25, 438
1, 377, 131
94, 423
113, 153
67, 941
106, 587
154, 518
322, 758
90, 827
435, 582
8,658
1, 377, 131
2, 156, 785
16, 494
16
161
14
129
1,354
2,767
653
478
3,238
362
11,354
2, 193, 803
1, 650, 052
8,751
35, 960
4,746
24, 538
1,395
7,401
35, 707
1,088
30, 319
36
167
3,837
1,515
138, 371
1, 943, 882
249, 922
249, 779
1,240
41,824
12, 124
2,292
^67^580^
123, 820
126. 102
45, 995
2, 846
For footnotes, see pp. 266-268.
STATISTICS OF INCOME FOR 1941, PART 2
253
1941,^ by major industrial groups for rehirns with balance sheets: Number of returns,
net income, net operating loss deduction, normal tax, surtax, declared value excess-
dends paid by type of dividend; also, for returns with no balance sheets, the same items
thousands of dollars]
Returns with balance sheets,
by major industrial groups '2— Continued
Manufacturing— C
Dntinued
Lumber
Furniture
Printing
Leather
and
Rubber
products
and
timber
and
finished
Paper and
allied
and
publish-
Chemicals
and allied
leum and
clay, and
products
basic
products
lumber
products
products
ing indus-
tries
products
coal
products
glass
products
280
150
694
663
753
755
1,150
118
575
1
21, 160
52, 370
54, 838
38, 417
134, 730
69, 354
401, 940
64, 328
141, 294
49, 470
144, 284
95, 610
111,434
203, 238
103, 967
461, 820
87, 325
168, 836
89, 952
193, 309
122, 561
155, 712
273, 498
76, 382
689, 703
99, 033
247, 438
4
6,845
27, 885
31,432
8,241
68, 646
49, 828
242, 189
3,633
111,376
8,568
138, 605
62, 635
32, 666
270, 376
81,052
583, 098
93, 849
167, 802
f
60, 744
424, 537
490, 759
253, 001
1, 375, 057
442, 040
2, 421, 634
413, 481
985, 522
7
33, 809
220, 649
195, 878
127, 401
635, 157
1^3, 370
1, 014, 702
197, 075
441, 537
8
4,402
10, 667
29. 390
■ 15, 889
46, 975
33, 804
73, 614
23, 802
33, 792
fl
4,980
6,056
19, 495
710, 842
11,197
499, 158
35, 734
22, 388
52, 635
9,626
24, 935
IC
212, 313
777, 064
1, 773, 098
715, 445
3,911,932
598, 002
1, 439, 456
11
22, 463
71, 483
36, 694
42, 113
82, 471
47, 654
283, 225
53,017
93, 914
12
16, 200
11,764
20, 862
24, 340
39, 341
14,011
119,439
5,912
16, 883
la
6,872
131,695
34, 593
30, 160
180, 163
62, 349
142, 444
88,068
55, 329
14
19, 433
62, 195
66, 153
48, 601
150, 342
62, 204
437, 894
49, 920
146, 691
l.-i
17, 155
160, 800
29, 908
30, 272
■ 310, 765
61,012
415, 584
86, 684
75, 405
16
53, 616
164, 619
216, 816
128, 154
453, 216
163, 558
1, 094, 207
147, 047
499, 904
17
8,034
45, 898
18, 572
20, 884
80, 072
24, 862
254, 129
21, 102
67, 365
18
69, 487
130, 926
301,610
177, 988
481,014
283, 335
1, 169, 651
157, 484
489, 634
19
946
2,318
14, 365
3,356
4,286
3,541
5,640
11,231
5,670
20
212, 313
777, 064
710,842
499, 158
1,773,098
715, 445
3,911,932
598, 002
1, 439, 456
21
461, 162
1. 026, 743
855, 147
8G4, 126
1, 883, 694
821,867
3, 875, 488
810, 282
1, 574, 150
25
595
2,017
17, 066
2,664
3,275
17, 121
27, 498
3,150
3,477
23
2
6
7
5
34
36
82
1
65
9A
64
46
91
29
267
399
836
16
388
2i
2
1
5
17
28
18
185
1
60
?e
59
6
89
51
104
466
844
17
207
?'
162
1,017
878
594
1,823
1,176
5,449
899
1,326
?»
531
2,336
3,753
443
4,552
3,495
11,568
4,018
3,958
2fl
51
20
1,890
128
.718
320
941
447
563
3(1
20
20
1,501
138
425
207
473
186
551
31
646
2,717
2,973
1,570
5,499
3,467
59, 501
5,703
8,260
3?
6
3,540
85
60
1,876
203
5,280
348
5,251
33
2,480
3,610
7,237
4,936
9,550
8,046
10, 919
2,293
8,515
34
465, 781
1, 042, 081
890, 721
874, 761
1,911,846
856, 820
3, 999, 065
827, 360
1, 606, 771
35
373, 465
688, 944
601,587
616,610
1, 267, 762
524, 432
2, 371, 365
561, 373
1,016,337
36
83
158
8,119
908
880
7,219
1,618
1,272
1,436
37
9,173
6,322
16,566
20, 777
32,289
25, 892
46, 702
5,588
23, 159
38
1,122
3,212
1,439
3,989
6,145
6,172
8,885
4,432
3,988
39
3,316
18, 272
6,570
9,174
43, 190
3,972
52, 656
12, 134
29,348
M)
535
2,753
2,363
1,878
2, 1.36
2,135
7,222
1,671
2,740
41
1,044
5,072
3,192
2,572
7,551
3,460
8,408
4,435
3,249
4?.
6,095
58, 045
17, 254
15, 359
39,711
17,867
66, 113
32, 581
31,830
43
196
264
321
436
1,123
876
1,544
275
818
44
2,443
16, 768
16, 066
10, 851
46, 806
14, 470
109, 217
18, 221
39, 054
45
19
156
16, 897
150
469
105
1,763
535
22
34
3,891
10, 621
906
388
992
570
46
34
47
414
671
2,771
1,021
8,763
1,180
7,585
5,793
. 3,436
48
125
433
456
1,209
1,523
338
890
798
848
49
30, 192
139, 532
77, 016
97, 532
170, 320
131, 783
483,040
78, 571
157, 090
50
428, 236
940, 623
770, 767
782, 888
1, 630, 496
739, 852
3, 179, 757
728, 439
1,314.896
51
37, 545
101, 458
119,955
91,872
281, 350
116,968
819, 308
98, 921
291,875
52
37, 484
101, 450
119,^61
91,805
281, 217
116,485
818, 279
98, 903
291, 608
,53
207
159
242
203
753
89
391
582
241
54
6,652
17, 182
19, 935
15,414
45, 760
22, 696
126, 088
17, 043
48, 392
55
1,932
4,996
5,764
4,458
13, 277
6,606
36, 770
4,955
14, 101
56
694
357
607
1,064
1,351
253
1, 399
250
578
57
7,591
26, 783
32, 046
23, 468
82, 676
16, 624
46, 178
237, 438
401, 694
22, 575
44, 823
80, 701
143, 772
58
16, 869
49,318
58, 353
44, 404
143, 064
59
20, 676
52, 140 1
61, 602
47, 469
138, 285
70, 790
417.613 1
54, 098
148, 103
60
9,032
24,608
37, 763
17,873
69,923
43,971 1
262,678 1
32, 171
90, 089
61
229
173 1
737
1.139
1.301
449 1
6.445 1
48
537
62
589783 — 44 17
254
STATISTICS OF INCOME FOR 1941, PART 2
Table 15.- — Corporation income tax returns showing excess profits tax deduction,
assets and liabilities, compiled receipts, compiled deductions, compiled net profit,
profits tax, excess profits tax, total tax, compiled net profit less total tax, and divi
{except assets and liabilities) in total only — Continued
[Money figures in
Returns with balance sheets, by major industrial
groups '2 — Continued
Manufacturing — Continued
Number of returns
Assets:
Cash 15
Notes and accounts receivable (less reserve)...
Inventories
Investments, Government obligations "
Other investments
Gross capital assets " (except land)
Less reserves
Land
Other assets i*
Total assets '»
Liabilities:
Accounts payable
Bonds, notes, mortgages payable:
Maturity less than 1 year
Maturity 1 year or more
Other liabilities -"
Capital stock, preferred
Capita] stock, common 21
Surplus reserves
Surplus and undivided profits 22
Less deficit 23
Total liabilities i'
Receipts:
Gross sales 2*
Gross receipts from operations 25
Interest on Government obligations:
Wholly taxable 26
Subject to declared value excess-profits tax
and surtax. 27
Subject to surtax only 2s
Wholly tax-exempt 29
Other interest
Rents and royalties 'o
Net capital gain ^i
Net gain, sales other than capital assets '2
Dividends, domestic corporations ^s
Dividends, foreign corporations ^*
Other receipts 35
Total compiled receipts '*
Deductions:
Cost of goods sold ''
Cost of operations 3?
Compensation of officers
Rent paid on business property.
Repairs 38_ _
Bad debts
Interest paid
Taxes paid 3e
Contributions or gifts *"
Depreciation
Depletion _
Amortization "
Net long-term capital loss "_. '. ._
Net loss, sales other than capital assets '2
Other deductions '- _
Total coniijiled deductions
Compiled net profit (35 less 51)
Net income <•' (52 less (20+27)).
Net operating loss deduction *^
Normal tax
Surtax -
Declared value excess-profits tax
Excess profits tax <*
Total tax
Compiled net profit less total tax (52 less 59).
Dividends paid: "
Cash and assets other than own stock *»..
Corporation's own stock
Iron, steel,
and
products
Nonferrous
metals and
their
products
2,628
7, 703, 535
934, 380
141, 979
1,017,151
837, 891
564, 053
1, 924, 466
349, 072
1, 945, 974
1M31
7, 703, 535
1,414,369
1,413,867
15,596
214,199
62, 320
9,412
469, 094
755, 026
659, 343
251,463
3, 987
725
103, 409
261,360
356, 216
77,517
343, 837
851,824
356, 678
31, 124
20, 624
1,689,232
127, 729
45, 922
159, 126
173, 346
230, 475
315,601
115,843
525, 492
4,302
2, 163, 367
61, 997
36
260
10
134
2,005
1,620
332
151
17, 108
5,781
6,091
2, 258, 893
1, 606, 681
31,430
29, 333
4, 392
28, 406
2, 146
5, 247
40, 355
869
30, 790
1,161
9, 514
4, 140
444
126,336
1,921,242
,337,651
337, 508
444
"la 833
14,813
957
107,951
174,554
163, 097
72, 331
1,049
Electrical
machinery
and equip-
ment
586
212,816
459, 572
738, 615
140, 522
300, 247
885, 480
444, 473
40, 770
31^800
2,365,349
222, 917
55, 748
65, 095
460, 661
63, 041
698, 728
166, 042
635, 543
2,427
2, 365, 349
634, 933
634, 272
1,343
91,915
26,917
1,682
235,771
" 356, 285
278, 648
142, 927
297
Machinery,
except
transporta-
tion equip-
ment and
electrical
2, 102"
415, 623
745, 372
1, 121, 262
221,343
222, 776
1, 767, 203
831, 833
78, 461
64, 163
3, 804, 369
324, 854
92, 507
161, 585
669, 921
238, 231
906, 254
301,115
1, 122, 448
12, 547
3, 8047369
4,961,546
62, 581
97
1,120
105
804
7,402
31, 183
492
1,921
9,207
4,434
24, 222
5,105,114
3, 027, 060
1,810
100, 771
9,815
74, 330
9,034
9, 866
106, 767
2,823
75, 456
30
13, 522
14,779
2, 362
593, 060
4,041,484
1, 0()3, 630
1, 062, 721
1,444
152
134
44
232
6,
239
408
557
611
162
452, 468
184, 608
5, 552
for footnotes, see pp. 266-268.
STATISTICS OF INCOME FOR 1941, PART 2
255
1941,^ by major industrial groups for returns with balance sheets: Number of returns,
net income, net operating loss deduction, normal tax, surtax, declared value excess-
dends paid by type of dividend; also, for returns with no balance sheets, the same items
thousands of dollars]
Retains with balance sheets, by major industrial groups '2—
-Continued
Manufacturing
—Continued
Public utilities
Trade
Automo-
Transpor-
biles and
equip-
ment,
except
tation
equip-
m^ent, ex-
cept auto-
Other
manufac-
turing
Manufac-
turing not
allocable
Total
pubhc
utilities
Transpor-
tation
Communi-
cation
Other
public
utilities
Total
trade
electrical
mobiles
206
250
640
449
1,914
1,429
239
246
13, 486
1
392, 596
356, 104
94, 255
34, 250
563, 813
282, 766
53, 146
227, 901
961,009
?
375, 295
617,871,
154,965
56, 795
553, 590
207, 664
145, 632
200, 294
3,12.'i,414
3
660, 477
798. 898
239, 931
92, 413
275, 442
80, 767
57, 991
136, 684
3, 326, 332
4-
357, 246
91,736
30, 655
11,926
115,098
66, 387
8, 008
40,703
213, 793
5
422, 642
125, 634
94, 800
43, 701
958, 812
391,439
98, 734
468, 640
703, 265
6
1, 297, 690
796, 309
314,025
161,882
14,967,431
3,744,015
4, 128, 241
7,095,175
2, 417, 259
7
624, 055
272, 712
145, 300
78, 298
3, 488, 596
1,021,004
1,174,039
1,293,553
1,050,286
8
18, 588
43, 830
10,371
8,402
107, 858
45, 482
6, 612
55, 764
378, 531
9
48, 832
2,949,311
73, 810
12,541
7,930
372, 862
117, 545
36, 810
218, 507
230, 768
10
2,631,481
812, 241
339, 001
14, 426, 310
3, 915, 060
3,361,135
7, 150, 115
10, 306, 085
11
170,211
329, 844
62, 731
31,057
330, 706
159, 766
86, 472
84, 468
2, 256, 326
12
117, 555
101,781
27, 219
15, 965
90, 266
37, 742
2,696
49, 828
595, 872
13
54, 359
184, 250
23, 091
24, 782
4,591,325
900, 613
779, 603
2,911,109
553, 980
14
219, 568
972, 542
142, 977
38, 293
828, 284
302, 927
178,864
346, 493
834, 596
15
234, 348
109, 544
42, 939
31,968
1,083,652
103,710
17. 040
962, 902
535,317
16
588, 074
238, 619
230, 749
79, 208
5, 363, 880
1,172,044
2, 092, 870
2, 098, 946
2, 477, 382
17
619,011
237,118
56, 221
13, 483
203, 026
82, 952
15, 530
104, 544
374, 205
18
946, 860
460,117
227, 325
105,511
1,949,037
1, 166, 566
188, 579
593, 892
2, 734, 839
19
674
2,334
2,631,481
1,011
1,265
13,844
11,260
518
2,066
56, 432
20
2,949,311
812,241
339,001
14,426,310
3, 915, 060
3,361,135
7,150,115
10, 306, 085
21
4,774,141
2,123,528
1,001,596
530, 944
41,209
14,802
5,994
20,414
27, 180, 023
m
920
846, 801
4,172
1,139
4, 669, 171
1, 917, 548
1,161,600
1,590,022
346, 777
23
416
15
34
6
162
83
9
71
93
?4
346
81
65
116
1,117
732
33
352
1,011
25
6
19
16
2
166
84
2
79
86
?6
98
113
68
28
429
200
43
186
800
27
4,128
2,260
1,163
320
15,802
3,451
1,179
11,172
39,211
28
6,399
3,273
1,877
1,168
57, 902
34, 126
17, 288
6,488
49, 738
29
70
309
57
18
1,606
391
343
872
2,368
30
134
286
148
129
4,984
4,040
33
911
2,022
31
41,692
6,954
5,849
2,410
23, 777
9,266
3,355
U, 155
25, 171
32
13, 214
325
1,842
412
260
220
28
12
8,293
33
11,248
17, 451
4,642
2,535
13, 049
8,426
790
3,832
245, 419
34
4,852,813
3,001,415
1,021,528
539, 226
4, 829, 634
1,993,369
1,190,698
1, 645, 567
27,901,012
35
3, 616, 685
1,450,109
595, 350
360, 107
32, 512
11,766
2,923
17, 823
21,485,401
36
21
669, 237
1,908
180
2, 269, 013
1,125,689
518,895
624, 429
93, 207
37
16, 746
17, 049
25,719
15,379
40, 239
28, 350
5,049
6,840
350, 174
38
3, 336
5, 395
5,675
1,627
64, 341
39, 209
18, 699
6,433
332, 907
39
40, 041
46, 175
8,725
5,546
8,401
6,374
239
1,788
56, 878
40
1,374
5,451
7, 598
889
9,400
3,574
3,438
2,388
57, 660
41
4,811
4,737
1,582
1, 613
178, 867
35, 071
31.035
112,761
54, 570
42
160,762
61,070
23, 458
8,893
357,027
94, 167
106, 895
155,965
244, 072
43
708
416
768
197
2,442
544
831
1,067
8,261
44
59, 892
29, 125
15. 105
6,740
370, 426
.62,038
138, 461
169,927
129, 277
45
30
(50)
4,922
44
(50)
4,877
276
46
7,777
12,285
880
439
6,716
6,223
8
486
1.072
47
7,947
4,714
13,973
564
53, 651
46, 314
1.028
6,310
21, 998
48
478
1,404
215
825
2,114
610
730
774
3,418
49
151,728
4, 072, 307
99,166
144,806
62, 196
330, 464
112,863
108, 520
109,081
3, 569, 277
50
2, 406, 363
845, 761
465, 273
3, 730, 534
1,572.836
936, 750
1,220,948
26, 408, 449
51
780, 506
595, 052
175, 766
73, 954
1,099,100
420, 533
253,948
424, 619
1, 492, 563
52
780, 402
594, 920
175,683
73, 924
1,098,505
420, 248
253, 903
424, 354
1,491,678
53
131
4, 403
156
365
472
436
23
12
3,122
54
116,655
76, 159
27, 560
11,818
218, 901
78, 394
52,774.
87, 733
259, 619
55
34, 022
22,178
8,022
3,431
63,890
22, 936
15, 373
25, 581
76, 134
56
2,472
2,476
1,008
1,261
607
549
17
41
12,049
57
255, 689
264, 460
53, 123
19,893
161,161
81,839
30. 606
48, 656
333, 065
58
408, 839
365, 273
89. 712
36, 403
444, 558
183,718
98, 829
162.011
680, 867
59
371,667
229, 778
86, 055
37, 550
654, 542
236,815
155,119
262, 608
811,696
60
237, 032
74, 409
48, 858
14,604
559, 062
162,248
158. 141
238, 674
371,303
61
518
2.561
2. 332
1,060
1,683
869
453
362
16,386
62
256
STATISTICS OF INCOME FOR 1941, PART 2
Table 15. — Corporation income tax returns showing excess profits tax deduction,
assets and liabilities, compiled receipts, compiled deductions, compiled net profit,
profits tax, excess profits tax, total tax, compiled net profit less total tax, and divi
{except assets and liabilities) in total only — Continued
[Money figures in
60
Returns with balance sheets, by major industrial
gi'oups '2— Continued
Number of returns
Assets:
Cash!5
Notfs and accounts receivable (less reserve)
Inventories _
Investments, Govermnent obligations i*.
Other investments
Gross capital assets '^ (except land)
Less reserves
Land _.
Other assets i8
Total assets '«
Liabilities:
Accounts payable
Bonds, notes, mortgages payable;
Maturity less than 1 year
Maturity 1 year or more
Other liabilities 20
Capital stock, preferred
Capital stock, common 21..
Surplus reserves
Surplus and undivided profits "
Less deficit 23
Total liabilities >9
Receipts:
Gross sales 24
Gross receipts from operat ions 25
Interest on Government obligations:
Wholly taxable 26
Subject to declared value excess-profits
tax and surtax. 2'
Subject to surtax only 28
Wholly tax-exempt 29.
Other interest
Rents and royalties ^o
Net capital gain "._
Net gain, sales other than capital assets ^2
Dividends, domestic corporations ^s
Dividends, foreign corporations ^*
Other receipts ss
Total compiled receipts 36
Deductions:
Cost of goods sold "
Cost of operations 3?
Compensation of officers -.
Rent paid on business property...
Repairs 38
Bad debts .
Interest paid -
Taxes paid 3e_ ._
Contributions or gifts <"_
Depreciation. -. ---
Depletion -.
Amortization «'
Net long-term capital loss 3i _ _ _
Net loss, sales other than capital assets 32
Other deductions " _
Total compiled deductions
Compiled net profit (35 less 51)
Net income •i:i (r,2 less (2r,-|-27)).
Net operating loss deduction «
Normal tax
O JlJ-f Q V _ _-..-...-.-_.----
Declared value excess-profits tax
Excess profits tax «
Total tax
Compiled net i)rofit less total tax (52 less 59)
Dividends paid: <«
Cash and assets other than own stock "
CorF)oration's own stock
3, 935, 477
979, 637
342, 094
177, 202
335, 293
194,806
902, 959
126, 203
904, 352
27, 069
3, 935, 477
13, 205, 530
239, 689
46
312
12
320
11,060
7,762
1,010
845
12,332
1,898
64, 535
13, 545, 353
11,371,682
49, 892
185, 938
39, 239
11,401
25, 397
20,519
68, 873
2,918
28, 528
202
266
8, 376
1,954
J,097J}56
12; 91 2, 601
353, 149
141,713
16,923
26, 447
24, 406
29, 382
49, 518
11,234
61,464
7,938
353, 149
457, 841
151,342
632, 752
032, 420
2, 051
104,644
30,614
8,146
J58, 798
302,200
330, 552
126,375
10,618
421,059
13, 062
16,367
4, 669
676
2,247
1,856
4,715
272
1,623
10
23
2,320
557
99,928
569, 383
3, 582, 328
837, 924
12, 747, 689
88, 347
43
308
11
296
8,479
7,277
987
810
8,689
1,889
60/792
12, 925, 619
50, 351
50, 326
47
7,273
2,140
217
15, 145
"24. 775
"257576
10, 840
156
10, 950, 623
36, 830
169,570
34, 570
10, 785
23, 150
18,663
64,158
2,646
26, 905
191
243
6, 056
1,397
997, 428
12,343,218
582, 401
582, 094
2,004
97, 371
28, 474
7,928
143, 652
277, 425
304,976 I
115,535
10, 462
For footnotes, see pp. 266-268.
STATISTICS OF INCOME FOR 1941, PART 2
257
1941,^ by major industrial groups for returns with balance sheets: Number of returns,
net income, net operating loss deduction, normal tax, surtax, declared value excess-
dends paid by type of dividend; also, for returns with no balance sheets, the same items
thousands of dollars]
Returns with balance sheets, by major industrial groups '2 — Continued
Trade— Continued
Ret ail— C ontinued
General
merchan-
dise
Food stores,
including
market milk
dealers
Package
liquor
stores
Drug
stores
Apparel
and
accessories
Furniture
and house
furnish-
ings
Eating
and drink-
ing places
Automo-
tive
dealers
Filling
stations
842
244
19
117
801
514
172
1,664
47
1
260. 323
1.062,613
917, 003
99, 246
214, 375
1,142,212
473, 183
198, 930
93, 973
3, 515, 493
107. 620
30, 032
232,411
14,389
16,512
199, 172
87, 553
14, 122
16,932
166
269
1,031
5.629
3,059
26, 950
131
2,667
22, 004
9,551
1,123
1,530
46, 518
97, 602
147, 163
10, 369
37, 321
112,501
50. 497
7,525
10, 810
12, 862
165, 906
86, 638
2, 235
7,318
38, 776
13. 472
5.124
3,882
7,923
2,384
5,329
339
3,504
46, 131
23, 726
7,104
1,684
37, 469
68, 862
184,213
7,012
7,237
60, 083
26, 833
9,897
10, 635
358, 574
6,222
9,609
9,838
4,166
4,082
38, 853
20,867
16, 928
574
69, 406
2
3
4
9
214
74
8
27
6
7
8
9
10
543. 637
1,651
53, 542
419,312
309, 270
50, 674
11
823, 887
38, 594
206,115
241, 522
189, 8.59
930, 240
153, 473
934, 304
2,501
3, 515, 493
102, 084
13, 806
34, 687
27, 377
27, 191
92, 249
17, 233
229, 302
293
662
191
164
81
25
155
10
389
26
8,534
2,328
2. 405
4,174
2,293
12, 146
1,082
20, 604
24
63,040
14, 639
25, 139
39, 058
41, 649
81, 2.35
14, 946
141, 551
1,945
55, 553
23, 873
9,840
51 391
17,930
63, 172
12, 620
76, 561
1,670
5,397
1,266
4,894
4,275
4,611
11,972
1,123
17, 448
313
50, 743
78, 032
34, 829
35, 486
10, 819
72, 362
12,119
78, 982
14, 797
8,074
1,442
4.428
7; 051
551
33, 044
894
14, 209
288
12
13
14
15
16
17
18
19
20
543. 637
1.651
53, 542
419,312
309, 270
50, 674
358, 574
69, 406
21
5,247,212
19,088
25
327
14
131
19, 231
26, 665
198
145
6,862
6,096
60,506
2, 733, 467
1,201
3
63
5
32
528
630
431
390
643
1
8,454
6,135
156, 047
201
1
1
1,010,519
6,707
10
69
3
30
777
5,500
369
40
2,113
381, 200
2.523
2
14
4
15
1,180
1,186
70
24
162
122, 776
2,722
(50)
8
1
4
39
568
2
52
112
1, 857, 187
37, 603
1
45
1
4
2,340
498
43
74
265
(50)
13, 390
122, 456
589
22
23
24
25
26
27
28
29
30
31
32
33
84
35
41
47
1,309
1
29
141
2
30
344
4
15
502
1
24
2,149
17, 483
47, 336
533
343
34
5, 386, 501
2, 745, 837
6,160
159, 296
1, 043, 619
433. 716
126, 817
1.911,451
12,5.074
35
3, 408, 548
5, 630
32, 338
139, 682
24, 994
11,984
17, 036
89, 630
2,840
48, 737
22
643
3,480
594
1, 153, 971
2, 252, 644
9
7,406
29, 063
4,776
. 630
3,079
19, 030
621
16, 286
4,959
----
95
4
4
17
100
(50)
20
109, 264
3
2,271
5,582
439
42
169
1,884
65
1,513
656, 571
3,016
18, 564
58, 637
3,139
2,998
1,579
12,618
576
7,724
9
77
392
158
208, 806
201, 049
771
10, 577
10, 273
957
3,289
1, .301
8,141
169
2,041
(50)
5
287
69
161, 609
74, 059
1,205
2,677
7.009
1,392
86
159
2,931
47
2,775
3
1, 552, 504
20, 221
34, 303
15, 529
2,822
3,285
4,045
11,937
239
4,164
5
2
399
86
194, 922
89, 775
65
1,100
1, 496
1,203
113
142
2,064
12
2,296
8
36
37
38
39
40
41
42
43
44
45
46
47
48
49
.50
(50)
6,691
153
350, 528
17
59
29, 538
146
10
25, 397
215
5
17,976
----
4, 940, 131
2, 690, 916
5,936
150, 846
974, 864
400, 536
117.896
1, 844, 465
116.470
51
446, 370
446, 225
221
54, 921
54, 884
40
224
224
8,451
8.448
47
68, 755
68, 723
141
33, 180
33, 161
33
8,922
8,916
30
66, 986
66, 982
179
8,604
8,529
52
53
54
81, 025
23, 596
1,023
99, 490
11,082
3,232
74
7,415
34
12
3
25
1,540
450
36
1,273
12,345
3,636
315
12, 586
6,220
1,835
270
5,131
1,753
524
30
914
10, 801
3,314
341
15, 022
1,602
478
3
1,509
55
56
57
.58
205, 134
21,802 1 73
3,299
28, 882
13, 456
3,222
29. 478
3.592
.59
241,236 1 33, 119 1 151 1 5,151
39,874 1 19,724 | 5.700 ! 37,508
5,012
60
140, 377
1,086
24, 455 20
197
2,633
33
16, 247
1,151
5,805
539
3, 572
2
14, 004
440
3,826
61
62
258
STATISTICS OF INCOME FOR 1941, PART 2
Table 15. — Corporation income tax returns showing excess profits tax deduction,
assets and liabilities, compiled receiptr., compiled deductions, compiled net profit,
profits tax, excess profits tax, total tax, compiled net profit less total tax, and divi
{except assets and liabilities) in total only — Continued [Money figures in
Number of returns
Assets:
Cash 15
Notes and accounts receivable (less reserve)
Inventories
Investments, Government obligations '^
Other investments
Gross capital assets '^ (except land)
Less reserves
Land
Other assets "
Total assets i'... -■
Liabilities:
Accounts payable
Bonds, notes, mortgages payable:
Maturity less than 1 year
Maturity 1 year or more
Other liabilities 2°
Capital stock, preferred
Capital stock, common 21
Surplus reserves
Surplus and undivided profits 22
Less deficit ^3
Total liabilities '^
Receipts:
Gross sales -*
Gross receipts from operations -'=
Interest on Government obligations:
Whollv taxable -6
Subject to declared value excess-profits tax
and surtax."
Subject to surtax only 28
Wholly tax-exempt "-'>
Other interest
Rents and royalties 3"
Net capital gain 3i
Net gain, sales other than capital assets '2
Dividends, domestic corporations ^s
Dividends, foreign corporations 34
Other receipts '^ ,
Total compiled receipts ^s
Deductions:
Cost of goods sold ^'
Cost of operations " -
Compensation of officers
Rent paid on business property
Repairs 3S_
Bad debts
Interest paid
Taxes paid "
Contributions or gifts «>
Depreciation -
Depletion- _. --■
A mortizat ion <' --
Net long-term capital loss "
Net loss, sales other than capital assets 32
Other deductions «
Total compiled deductions —
Compiled net profit (35 less 51)
Net income « (52 less (26-f27))-.
Net operating loss deduction **
Normal tax
Surtax - -
Declared value excess-profits tax
Excess profits tax " -
Total tax - -
Returns with balance sheets, by major indus-
trial groups 12— Continued
Trade— Continued
Retail— Continued
Hard-
ware
119
1,831
8,286
9,817
52
281
3,007
1,308
499
581
23, 048"
3,078
3,074
1,666
1,782
660
5,498
357
6,996
^63
23, 048
47, 145
129
(50)
Building
materials,
fuel, and
ice
(50)
11
267
46
4
11
745
48, 359
Compiled net profit less total tax (52 less 59) . .-
Dividends paid:"
Cath and assets other than own stock "
Cor poration's own stock -
35, 431
26
1,562
484
70
221
217
526
18
191
1
5,665
44, 421
3,938
3,927
5
636
197
766
1.674
2,264
528
10
490
10, 250
47, 944
46, 629
617
9,775
41^.638
22, 475
10, 686
2, 579
147,642
15, 837
10, 836
9,685
8,497
5,617
50, 176
2,361
45, 288
655
147, 642
276, 025
2, 362
(50)
Other
retail
trade
619
26, 597
14,812
7,275
22, 871
5,758
41, 728
5,947
46, 513
2,538
168, 964
345, 365
7,135
1
33
208, 107
1,280
7,080
1,113
1,392
1,669
1,070
3,626
88
2,395
293
64
_34^905
263. 090
"207049
20, 040
41
3.583
1,071
257
2, 878
7.' 788
12, 262
4,578
373
229, 018
1,815
11.586
9, 069
854
.2.282
864
4,441
133
2,530
1
3
216
9
69. 799
332. 621
"31, 162
31, 128
139
5.178
1,532
333
7,022
14,066
17,096
4,748
317
For footnotes, see pp. 266-208.
STATISTICS OF INCOME FOR 1941, PART 2
259
1941,^ by major industrial groups for returns with balance sheets: Number of returns,
net income, net operating loss deduction, normal tax, surtax, declared value excess-
dends paid by type of dividend; also, for returns with no balance sheets, the same items
thousands of dollars]
Returns with balance sheets, by major industrial groups 12— Continued
Trade-
Continued
Service
Auto-
Miscel-
Hotels
motive
laneous
Amuse-
Trade
Total
and
Personal
Business
repair
repair
Motion
ment,
not
service
other
service
service
services
services,
pictures
except
allocable
lodging
places
and
garages
hand
trades
motion
pictures
1,512
1,472
181
295
267
63
117
281
144
1
52. 532
62, 413
5,814
5,270
24, 472
843
2,098
9,803
8,039
2
195, 531
64, 814
4,251
6,563
30, 831
1,590
4,241
7,786
3,471
3
218.610
29, 850
2,522
6,232
4,238
1,078
1,886
12, 587
323
4
7,326
11,803
630
674
5,010
28
129
1,400
1,950
5
58, 763
45,122
4,713
3,397
23, 097
290
174
7,399
2,590
6
161,364
347, 499
89,416
54, 541
62, 393
9,131
10,914
63,914
37, 226
7
76, 832
132, 848
35, 421
23, 631
21,732
3,473
4,313
21,410
15,167
8
28, 390
40, 250
15,137
4,038
2,140
827
314
7,996
8,458
9
13,040
15,677
2,198
2, 665
59, 750
5,087
286
243
2,781
1,255
10
658, 723
484, 579
89, 259
135, 537
10, 599
15,686
92, 256
48, 144
11
105,916
39, 579
3,676
5,888
16, 475
1,602
1,807
4,571
2,100
12
46, 908
15,039
2,926
2,343
5,010
407
502
2,393
883
13
32, 286
72, 067
33, 913
4,820
5,447
1,612
3,881
17, 999
3,200
14
51,134
54, 048
5,695
4,425
24, 404
908
1,905
6,897
5,926
15
32.117
26, 648
3,588
5,915
8, .548
1,418
155
4,578
2,094
16
167, 461
125,684
18, 563
17,117
32, 653
1,953
3, .596
19, 791
19, 977
17
24, 528
16.156
1,352
1.111
4,637
249
431
5,316
1,610
18
201,817
140, 704
20, 677
19, 299
39, 300
2,453
3,582
31,651
13, 004
19
3,443
658, 723
5,345
1,132
1,168
59, 750
938
2
173
941
649
20
484, 579
89, 259
135, 537
10, 599
15,686
92, 256
48,144
21
1, 537, 699
70, 108
20, 636
10, 981
21,052
5,655
5,348
1,238
3, 953
22
25, 489
542, 646
46, 942
90, 652
141,998
11,643
28, 512
119, 518
56, 661
23
4
16
1
11
(50)
(50)
1
?4
60
77
2
3
46
(50)
1
1
6
25
7
167
6
38
1
7
3
21
(50)
(50)
1
1
26
1
(50)
2
27
2,175
745
95
39
360
6
13
143
64
2«
3,751
10, 722
2,028
126
5,652
156
24
1,558
1,007
29
149
193
16
3
87
1
1
10
49
30
244
437
73
46
89
108
22
44
45
31
.1,294
2,793
152
110
1,405
2
3
972
33
32
297
14, 247
23
7,253
(50)
1,018
2
678
21
1,410
33
299
69
2,751
400
34
1, 585, 582
635, 057
70, 964
102, 648
172,155
17, 870
33, 994
126, 238
62, 220
35
1,194,324
45, 436
12, 094
6,133
16,155
3, 989
3, 500
749
2,134
36
8,655
270, 333
17, 428
48, 9.59
65, 261
4,835
17, 720
65, 367
25, 431
HV
31,683
29, 568
1,516
5,280
10, 525
694
2,108
2,651
2,889
38
12, 930
22, 685
4,882
2,735
3,711
1,189
217
6,862
2,451
39
3, 076
7,000
1,909
1,377
1,180
407
188
819
803
40
5,050
1,213
221
243
244
38
58
73
75
41
3,880
4,115
1,732
337
408
109
156
1,013
281
42
16, 797
18, 001
2,817
2,784
3,481
518
624
3,381
3,344
43
489
480
38
87
75
5
11
72
166
44
9,242
19, 888
3,504
3,362
4,050
1,386
817
3,346
2,507
45
18
76
1,452
150
10
1,188
1
139
2
752
1
2
46
7
2
47
111
53
7
33
53
48
250
130
8
20
6
14
2
8
60
49
196,829
122.841
15, 175
20, 940
40, 858
2,791
4.707
21,178
9,178
60
1,484,752
543. 035
61,433
92.311
146,848
15,982
30,119
105, 554
49, 374
51
100,8.30
92, 022
9,531
10, 337
25, 306
1,888
3,875
20, 684
12,846
52
100, 656
91,978
■ 9, 529
10, 330
25, 282
1,888
3,875
20, 682
12,845
53
185
320
44
50
78
1
10
54
45
54
17, 884
16, 622
1,793
1,867
4,679
256
591
3,892
2,277
55
5,252
4,923
527
567
1,377
81
181
1,148
668
56
1,064
443
20
61
56
3
89
116
28
57
19,217
14, 953
36, 941
1,333
1,294
3,633
602
942
2,577
2,871
58
43,417
3, 673
3,788
9.745
943
1,804
7,734
5,844
59
57,412
55, 081
5, 858
6,549
15,561
946
2,071
12,950
7,003
60
22, 764
28, 149
1,959
2,899
9,866
221
322
6,728
4,059
61
1.572
3. 843
500
319
23
78
821
62
260
STATISTICS OF INCOME FOR 1941, PART 2
Table 15. — Corporation income tax returns showing excess profits tax deduction,
assets and liabilities, compiled receipts, compiled deductions, compiled net profit,
profits tax, excess profits tax, total tax, compiled net profit less total tax, and divi
{except assets and liabilities) in total onZy— Continued [Money figures in
Returns with balance sheets, by major industrial
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
45
46
47
48
49
50
51
62
63
64
65
66
67
68
69
60
61
62
Number of returns
Assets:
Cash 15
Notes and accounts receivable (less reserve)...
Inventories
Investments, Government obligations "
Other investments
Gross capital assets " (except land)
Less reserves
Land
Other assets ^>
Total assets "
Liabilities:
Accounts payable
Bonds, notes, mortgages payable:
Maturity less than 1 year
Maturity 1 year or more
Other liabilities 20
Capital stock, preferred
Capital stock, common 21
Surplus reserves
Surplus and undivided profits 22
Less deficit 23
Total liabilities i'
Receipts:
Gross sales 24
Gross receipts from operations 23
Interest on Government obligations:
Wholly taxable 26
Subject to declared value excess-profits tax
and surtax. 27
Subject to surtax only 2'
Wholly tax-exempt 29
Other interest
Rents and royalties 3o
Net capital gain 3i
Net gain, sales other than capital assets 32
Dividends, domestic corporations 33
Dividends, foreign corporations ^*
Other receipts 3'
Total compiled receipts 36
Deductions:
Cost of goods sold 3?
Cost of ojierations 3'
Compensation of officers..- -.-
Rent paid on business property
Repairs 38
Bad debts
Interest paid
Taxes paid 3o
Contributions or gifts *"
Depreciation
Depletion
Amort ization ■".
Net long-term capital loss 3i
Net loss, sal<>s other than capital assets 32 —
Other deductions '12
Total comi)iled deductions
Compiled net profit (35 less 51) ---
Net income " (52 less (20-f27)).
Net operating loss deduction **
Normal tax
Surtax - -
Declared value excess-profits tax -
Excess profits tax *^ - --
Total tax --
groups '2 — Continued
Service— Continued
Other
service,
including
schools
117
5,854
6,002
979
1,970
3, 453
18,751
7,578
1,332
1,151
Service not
allocable
31,914
3,402
576
1,181
3,747
352
10, 849
1,419
10, 666
278
31,914
1,242
45, 047
^ 3
16
1
6
25
170
24
11
117
220
80
6
12
9
1,213
125
7
11
Finance, insurance, real
estate, and lessors of
real property
Total finance,
insurance,
real estate,
and lessors
of real
property
2,042
1,434
58
14
140
1,184
31
71
65
1,434
3
1,676
1,163,552
2, 230, 961
6,589
403, 656
3,381,928
970, 144
212, 685
102, 099
75, 074
8,121,317
148, 439
834, 157
741,563
2, 189, 785
592, 367
1,696,950
1, 023, 394
938, 080
43, 418
8,121,317
(50)
616
47, 276
679
25, 057
3,673
611
310
257
78
1,022
26
909
6
176
11
7,084
7,376
7,369
38
Compiled net profit less total tax (62 less 69).
Dividenfls paid: <6
Cash and assets other than own stock ".
Corporation's own stock
1,235
365
67
1,684
(50)
(30)
(50)
12
1,692
(50)
(50)
3
275
231
26
7
3
30
8,412
354, 543
483
3,695
877
4.022
173,893
109, 378
2,963
7,107
123, 503
551
35, 197
824, 624
930
1,514
(50)
178
178
3. .351
2, 020
2, 102
117
6,610
21,688
47 28, 410
15, 107
2, 332
12,209
54, 004
23, 487
554
18,311
11,347
461
10,172
565
48 245, 572
49 450, 828
373, 790
368, 897
230
51,744
15,476
311
39,013
106, ,545
267, 251
223, 735
2,176
For footnotes, see pp. 20()-208.
STATISTICS OF INCOME FOR 1941, PART 2
261
1941,^ by major industrial groups for returns with balance sheets: Number of returns,
net income, net operating loss deduction, normal tax, surtax, declared value excess-
dends paid by type of dividend; also, for returns with no balance sheets, the same items
thousands of dollars]
Returns with balance sheets, by major industrial groups iJ— Continued
Finance, insurance, real estate, and lessors of real property— Continued
Finance— Continued
Banks and
trust com-
panies
Long-term
creditagencies
mortgage
companies
except banks
Short-term
credit
agencies
except
banks
Investment
trusts and
investment
com-
panies 13
Other invest-
ment compa-
nies,inc]uding
holding com-
panies i«
Security and
commodity-
exchange
brokers and
dealers
Other
finance
companies
Finance
not al-
locable
461
19
421
7
21
33
61
15
1
692, 382
876, 086
733
6,448
94, 899
1, 186, 497
1,275
899
28,945
10, 248
4,919
172
3,508
1,350
349
249, 106
41, 970
1,654
2,378
18, 705
16, 291
1,053
1,383
65, 801
50, 920
22, 040
323
1,168
113
1,639
5
107
1,361
70
17
22
68
2
3
4
273. 086
131, 782
30, 145
4,766
2,724
13,010
28
5,323
297
84
163
56
9
12, 977
203
86
3
3
37, 077
2, 986, 658
43, 346
9,743
45
7,865
2,536
5,600
270
79
27
763
6
6
7
8
9
10
2. 014, 450
12, 965
1, 321, 525
14, 808
3, 356, 325
13, 149
133, 604
3,368
11
1,705
5,990
2,508
491
233
1,066
66
930
25
63, 603
776, 456
69. 015
65, 705
59, 398
110, 744
55, 069
121, 596
61
6.705
8,064
20, 458
345. 439
67, 198
476, 897
1,111,238
927, 036
400, 039
46
2,505
1,924
3,051
1,017
598
1.622
171
2,303
42
3,517
15,416
702
6,251
15, 442
54, 813
14, 088
28, 414
5,040
74
223
976
319
48
1,176
57
495
12
13
14
1, 842, 601
6,629
64,793
15, 531
85, 261
364
2, 014, 450
80
15
16
5,954
233
2,266
430
17
18
19
20
12, 965
1, 321, 525
14, 808
3, 356, 325
13, 149
133, 604
3,368
148
107, 893
1
3
2
8
64, 595
107
65
47
2,069
56
2,176
430
899
1
22
(50)
9
339
19, 265
67
196
12, 636
2
97
22
12, 955
350
2,519
757
3,318
44.849
2,380
1,587
49
820
5
1,598
1,981
12
1
16, 393
30
27
(50)
29
60, 206
1,664
102
(50)
102, 985
335
1,071
3,439
(50)
(SO)
(50)
108
125
20
1
2,777
47
293
(50)
23
24
•2b
(50)
(50)
164
2
(50)
134
4
26
(50)
404
22
6
83
20
2V
25
909
9
28
29
30
31
697
32
33
21
370
8
34
71, 186
2,550
177, 171
1,640
182, 843
6,887
33, 962
606
35
60
28
3,801
3,216
155
8,066
18, 890
5,047
171
1,100
(50)
422
316
721
204
5
692
234
501
4
1,408
(30)
36
18
437
51
5
12
235
57
4
21
11,514
797
10
4
592
12, 244
1,546
6
430
250
i,"349'
122
1
12
117
169
5
24
3/
7,922
1,120
451
2,329
6,401
3,075
159
1,461
3
3
100
11
(50)
11
31
16
38
39
32
4(J
41
42
43
44
227
23
3
45
46
47
1,130
149
22, 207
11
(M)
1,196
189
131
69, 467
5
1,295
3
28
3,442
220
(50)
5,591
1
(50)
185
48
49
162
3,602
50
46, 407
2,049
110,323
452
32, 291
5,271
10, 319
360
51
24, 780
20, 704
20
501
500
66,848
66,838
80
1,188
1,188
3
150, 552
150, 523
2
1,615
1,508
23, 643
23, 634
3
246
246
52
53
54
3,516
1,265
57
1,416
94
28
3
29
12, 473
3,665
24
11, 595
135
39
12, 186
3,554
59
12, 769
282
84
8
173
2,738
799
30
1,294
38
13
3
30
65
56
57
37
5H
6,254
155
27, 757
211
28, 568
547
4,862
84
18, 525
346
39, 091
977
121, 984
1,069
18, 781
163
bO
6,173
1,010
57
100
36, 326
137
796
105, 503
526
39
10, 142
10
81
61
62
262
STATISTICS OF INCOME FOR 1941, PART 2
Table 15. — Corporation income tax returns showing excess profits tax deduction,
assets and liabilities, compiled receipts, compiled deductions, compiled net profit,
profits tax, excess profits tax, total tax, compiled net profit less total tax, and divi
{except assets and liabilities) in total only — Continued
[Money figures in
Returns with balance sheets, by major
in dustrial groups '- — Continued
Finance, insurance, real estate, and lessors
of real property— Continued
Insurance carriers, agents, etc.
Total insur-
ance carriers,
agents, etc.
Insurance
carriers
Insurance
agents,
brokers, etc.
Number of returns
Assets:
Cash's
Notes and accounts receivable (less reserve)
Inventories
Investments, Government obligations '^
Other investments
Gross capital assets " (except land) -.
Less reserves
Land
Other assets 's
Total assets i' -.
Liabilities:
Accounts payable
Bonds, notes, mortgages payable:
Maturity less than 1 year
Maturity 1 year or more
Other liabilities 20
Capital stock, preferred
Capital stock, common 21
Surplus reserves
Surplus and undivided profits 22
Less deficit 23
Total liabilities i«-
Receipts:
Gross sales 24
Gross receipts from operations 25
Interest on Government obligations:
Wholly ta.xable 26
Subject to declared value excess-profits tax and
surtax. 27
Subject to surtax only 28
Wholly tax-exempt 28
Other interest
Rents and royalties so
Net capital gain si
Net gain, sales other than capital assets 32
Dividends, domestic corporations 33
Dividends, foreign corporations 34
Other receipts 35
Total compiled receipts 39
Deductions:
Cost of goods sold 3?
Cost of operations 3?
Compensation of officers
Rent paid on business property
Repairs 38
Bad debts
Interest paid
Taxes paid 39
Contributions or gifts *"
Depreciation -
Depletion
Amortization <' ^ --
Net long-term capital loss 3i
Net loss, sales other than capital assets 32
Other deductions 42 _
Total compiled deductions
Comi)ilod net profit (.35 less 51)...
Net mcome 43 (r>2 less (20+27))...
Not oi>eraling loss deduction 44..
Normal tax -
Surtax ---
Declared value excess-profits tax.. -
Excess profits tax <'
Total tax
81,084
33, 565
61, 605
64
72, 829
91,781
30, 783
3,574
2,287
33, 367
71, 769
86, 540
18, 306
2,032
1,028
26, 845
342, 122
264, 124
38, 411
2,101
169, 332
2,477
44, 778
3,258
81, 192
415
160,492
1,246
33, 279
101
69, 006
342, 122
264, 124
170, 495
77
972
110
443
1,788
1,350
182
17
3,657
146
1,146
123,767
75
965
109
440
1,361
1,041
138
(60)
2,906
45
616
51 180, 384
51 131, 463
1,558
47 8, 354
2,651
269
314
836
4,635
84
703
47 1,627
1,396
57
196
666
3,469
39
391
6,915
167
48 124, 020
6,717
143
48 100,464
49 150,507
29, 877
29, 324
16,297
15, 747
4,885
1,496
37
4,288
10,706
2,475
788
2
1,960
5, 225
Compiled net profit less total tax (62 less 59).
Dividends paid: 49
('ash and assets other than own stock 4«.
Corporation's own stock
19,171
11,072
11,970
113
6,289
For footnotes, see pp. 26&-268,
STATISTICS OF INCOME FOR 1941, PART 2
263
194i^ by major industrial groups for returns with balance sheets: Number of returns,
net inco77je, net operating loss deduction, normal tax, surtax, declared value excess-
dends paid by type of dividend; also, for returns with no balance sheets, the same items
thousands of dollars]
Returns with balance sheets, by major industrial groups '2— Continued
Finance, insurance,
etc. — Continued
Construc-
tion
Agriculture, forestry, and fishery
Nature of
business not
allocable
Real estate,
including
lessors of
buildings
Lessors
of real
property,
except
buildings
Total agri-
culture,
forestry,
and fishery
Agriculture
and services
Forestry
Fishery
649
110
1,395
364
336
10
18
103
1
14, 030
29, 671
2,377
4,085
33, 997
355, 337
135, 527
86, 202
7,245
9,496
36, 066
1.878
11,617
17, 702
448, 526
31, 850
10, 129
8,021
92, 074
323, 376
54, 910
15, 006
66, 331
196, 103
98, 663
18, 667
40, 055
13, 735
13,511
29. 309
2,630
12, 698
61, 925
22, 958
34, 673
4,176
12, 605
11, 753
27, 750
2,526
10, 146
53, 490
20, 434
34, 266
3,861
155
400
152
974
1,357
1,407
104
1,342
5,558
1,807
189
180
4, 328
11, 577
3,589
204
4,342
14, 126
6,127
3,024
822
2
3
4
5
1,209
2,877
716
217
135
6
7
8
9
10
397, 417
511, 585
707, 860
149, 698
135, 963
4,430
9,305
35, 884
U
21, 165
11, 952
215, 040
19, 384
10, 451
67,643
6,618
74, 956
29, 793
2,689
751
102, 730
17, 407
20, 195
233, 122
1,267
140, 627
7,203
139, 396
65, 221
26, 230
129, 648
28, 452
112,893
28, 595
180, 547
3,121
707, 860
10, 375
11, 139
13, 688
8,352
4,859
55, 847
2,346
45, 261
2,168
9,129
10, 281
12, 363
7,224
2,522
52, 623
2,220
41, 084
1,481
426
79
1,093
457
611
2,064
24
306
630
820
779
232
670
1,726
1,160
103
3,871
57
5,841
2,940
2,011
7,718
1,885
5,716
585
9,803
614
12
13
14
15
16
17
18
19
20
397, 417
511, 585
149, 698
135, 963
4,430
9,305
35, 884
21
5,205
39, 558
4
44
6
49
1,099
40, 399
885
3,764
357
6
1,302
2,629
638
7
108
2
58
300
43, 259
59
39
209
(60)
27, 408
67, 714
1, 453, 764
20
124
5
138
875
4,802
332
2,061
2,644
76
29, 283
116,427
11,470
1
8
4
25
312
2,111
161
137
265
5
2,032
94, 037
9,926
1
8
4
19
251
1,799
45
132
260
5
1,746
2,249
264
20, 141
1,280
28, 339
6,949
(60)
1
(50)
3
109
584
206
316
138
22
23
94
25
26
5
27
306
(50)
5
5
?7
33
6
116
1
(50)
28
29
30
31
32
33
91
195
435
34
92, 679
74, 716
1,561,839
132, 957
108, 232
2,760
21, 965
37, 080
35
4,228
8,229
4,421
6,769
1,417
121
9,604
6,284
103
12, 104
7
461
361
88
13, 945
1,900
24
507
952
23
59
5,411
2,126
16
829
11,063
53, 173
1, 205, 565
47, 690
3,410
6,317
1,856
3,270
15, 681
448
15,289
104
535
3,497
165
72, 519
78, 452
4, 670
3,759
1,502
1,338
286
1,310
2,398
35
2,403
456
59, 126
4,353
3,353
1,436
1,130
237
1,199
2,128
32
2,125
202
1,677
41
42
4
3
3
50
83
17, 649
276
365
61
205
46
60
187
2
257
1
21, 645
2,948
1,442
155
173
124
241
662
10
650
71
33
92
140
3,840
36
37
38
39
40
41
42
43
44
21
254
45
46
47
41
1
1,755
222
26
14, 386
111,243
222
21
13,015
48
5
1,278
49
93
50
68, 143
24, 707
1, 429, 519
88, 581
2,271
20. 391
32. 225
51
24, 536
24, 482
50
50, 009
49, 949
63
132, 320
132, 177
2,442
21,714
21, 686
168
19, 651
19, 628
110
489
489
15
1, .574
1,568
42
4,855
4,852
(60)
52
53
54
4,645
1,398
83
2,773
10, 752
3,136
7
4,608
20, 232
5,920
1,818
37, 306
3,863
1,141
396
3, 647
3,489
1,031
334
3,356
85
25
7
87
289
85
56
204
797
236
38
1,087
55
56
57
58
8,898
18, 503
65, 276
9,047
8,210
203
634
2,158
59
15, 638
31, 506
67, 044
12, 667
11,441
286
940
2,697
60
8,909
767
43, 253
18, 950
1,954
4,574
215
4,034
215
291
248
537
30
61
62
264
STATISTICS OF INCOME FOR 1941, pART 2
Table 16. — Corporation income tax returns showing excess profits tax deduction,
assets and liabilities, compiled receipts, compiled deductions, compiled net profit,
profits tax, excess profits tax, total tax, compiled net profit less total tax, and
[Total assets classes and money
Total assets classes "
Total
Under 50
Number of returns with balance sheets
Assets:
Cash's..
Notes and accounts receivable (less reserve) .
Inventories
Investments, Government obligations '^
Other investments
Gross capital assets '' (except land)
Less reserves _•
Land
Other assets '8
Total assets i'
Liabilities:
Accounts payable
Bonds, notes, mortgages payable:
Maturity less than 1 year
Maturity 1 year or more
Other liabilities 20
Capital stock, preferred
Capital stock, common 21
Surplus reserves
Surplus and undivided profits 22. .
Less deficit 23
Total liabilities '«.
Eeceipts:
Gross sales 24
Gross receipts from operations -^
Interest on Government obligations:
Wholly taxable -^
Subject to declared value excess-profits tax and
surtax. 2'
Subject to surtax only 28
Wholly tax-exempt 2'
Other interest
Rents and royalties 5"
Net capital gain 3i
Net gain, sales other than capital assets ^2
Dividends, domestic corporations ^3
Dividends, foreign corporations ^*
Other receipts ''
Total compiled receipts '*
Deductions:
Cost of goods sold "
Cost of operations "
Compensation of officers
Rent paid on business property
Repairs 38
Bad debts
Interest paid _.
Taxes paid 39
Contributions or gifts '"'
Depreciation
Depletion __
Amortization ^i
Net long-term capital loss 3'
Net loss, sales other than capital assets '2
Other deductions "...
Total compiled deductions.
Compiled net profit (35 less 51)...
Net income " (52 less (26+27))....
Net operating loss deduction <<_ . .
Normal tax
Surtax
Declared value excess-profits tax..
Excess profits tax "
Total tax
Compiled net profit less total tax (52 less 59).
Dividends iiaid:*'
Casli aTid assets other than own stock <«.
Corijoral ion's own stock
38, 054
6, 886, 107
12, 552, 800
13, 503, 855
2, 783, 822
9, 752, 166
42, 081, 499
15, 753, 742
1, 575, 586
1, 469, 433
74, 851, 526
6, 438, 006
2, 846, 545
8,811,798
9, 183, 066
5, 552, 378
20, 244, 936
4, 427, 606
17, 610, 542
263, 352
74,851,526
78, 983, 313
8, 594, 507
1,900
12,614
1,934
10, 451
282, 965
365, 785
17, 105
27, 264
449, 033
67, 086
546,617
89, 360, 576
57, 315, 620
4, 677, 674
1, 183, 063
576, 727
864, 607
155, 928
474, 747
1, 950, 964
32, 308
1, 470, 692
114,956
87, 582
212,958
32, 062
8,701,140
77, 851, 029
1,855,617
541,462
53, 779
3,189,719
5, 640, 577
5, 868, 970
3, 260, 865
61,600
3,813
22, 833
34, 866
26, 077
741
2,975
48, 191
22, 007
2,131
3,071
118,878
21, 289
7,165
5,981
14, 044
2,086
39,011
1,984
35, 251
7,933
118,878
397, 195
113,252
(50)
1
21
155
2,789
162
328
55
7
5,199
519, 167
297, 079
58, 216
32, 928
10, 033
1,775
1,190
996
6,814
134
4,024
318
10
99
123
62, 510
476, 249
42,918
42, 897
610
5,985
2,184
740
5, 289
14, 197
28, 720
8,719
400
For footnotes, see pp. 206-268.
STATISTICS OF INCOME FOR 1941, PART 2
265
1941,^ by total assets classes for returns with balance sheets: Number of returns,
net income, net operating loss deduction, normal tax, surtax, declared value excess-
dividends paid by type of dividend
figures in thousands of dollars]
Total assets classes "—Continued
100 under
250 under
500 under
1,000 under
5.000 under
10,000 under
50,000 under
100,000 and
250
500
1,000
5,000
10,000
50,000
100,000
over
10, 577
6,738
4,615
4,773
757
662
108
109
1
203, 254
255, 454
343, 828
1,109,328
610, 369
1.457,773
730, 324
2, 090. 950
9
497, 043
672, 191
859, 932
2, 295, 191
1,117,265
2, 542, 462
883, 644
3. 524, 732
3
498, 836
652, 984
880, 172
2, 429, 801
1,111,874
2, 596. 564
1,213,629
3, 972, 165
4
20, 728
41,078
78, 300
357, 173
248, 168
630, 845
339, 093
1, 064, 334
5
48, 105
88, 247
146, 456
647, 401
380, 626
1,147,134
943, 322
6, 338. 036
6
663, 489
967, 426
1,412,930
4, 752, 969
2,612,304
7, 953, 996
4, 438, 246
19,063,522
7
295, 651
435, 653
655, 862
2, 158, 527
1,153,682
3, 297, 743
1, 497, 787
6, 163, 278
8
57, 235
86, 891
116,079
357, 401
158,279
370, 718
128, 063
287, 723
P
44, 016
62, 422
75, 519
245, 593
129,813
254, 632
193, 061
450, 154
10
1,737,054
2, 391, 040
3, 257, 354
10, 036. 330
5,215,016
13, 656, 380
7,371,594
30, 628, 337
11
280, 937
352, 898
428, 519
1,016,591
462, 619
1,153,445
400, 091
2,245,410
12
144, 023
186,508
229,001
618, 904
242, 167
433, 149
144, 197
808. 984
n
106, 990
149, 599
195, 935
622, 275
334, 301
1,369,393
1,170,832
4,831,217
14
176,856
266. 666
417,459
1,521,697
898, 535
2,113,958
1,257,215
2,471,702
Ti
58, 138
97,176
159,429
612,542
324, 766
925, 807
578, 876
2, 783, 242
16
480, 048
630, 883
819, 002
2, 347, 352
1,164,240
3, 408, 985
1,787,934
9,439,170
17
37, 581
62, 737
102, 283
414,448
257, 740
732, 460
327, 587
2, 483, 421
18
478, 974
677, 276
940, 225
2, 954, 663
1, 547, 649
3, 365, 624
1,721,205
5, 565, 366
19
26, 491
32, 705
34, 498
72, 143
17,000
46.442
16, 343
175
20
1, 737, 0.54
2,-391,040
3, 257, 354
10, 036, 330
5,215,016
13, 656, 380
7, 371. 594
30, 628, 337
21
4, 609, 130
5, 364, 575
6, 344, 451
15,503,461
6,512,177
15,108,437
5, 359. 243
18, 423, 825
<>o
522, 864
575, 119
546, 874
1,231,245
575, 832
1,707,753
688, 003
2,411.389
23
24
33
97
261
169
443
209
660
?4
123
249
493
2,232
1,638
4,052
2,002
1,808
25
28
32
70
321
235
411
264
569
?fi
191
296
657
2,529
1,480
2,863
1,469
924
?7
4,735
7,886
12, 240
42, 777
22, 693
43,410
39, 277
108, 936
?S
14, 101
19,420
19, 256
60, 188
18, 984
70,317
42,964
112,502
W
774
819
1,080
4,379
1,145
4.230
470
3,864
30
2,437
2,741
2,916
8,743
1,286
3,481
1,986
1,859
31
1,086
2,390
5,693
30, 522
16,419
47, 492
43, 566
301, 633
3?
7
43
54
1,332
1,732
10,123
7,217
46, 568
33
44, 222
51,365
53, 039
122, 684
50, 843
104,129
43, 963
56,400
34
5, 199, 721
6, 024, 966
6, 986, 919
17, 010, 673
7, 204, 635
17,107,142
6, 230, 632
21,470,936
35
3, 534, 516
4, 094, 133
4, 757, 693
11,442,399
4, 599, 367
10. 906. 428
3,555,611
13, 088, 671
36
313, 430
364, 805
345, 731
786, 900
348, 199
1,067,717
239, 261
1,020,666
37
210, 892
192,874
179,035
263, 704
69, 080
96,540
22, 029
35,232
38
48, 526
46, 531
42, 930
99, 453
40, 651
86, 913
44, 472
138,839
39
18,603
23, 993
37. 050
126, 731
74, 886
208, 357
83,836
284, 089
40
12,629
14,061
14, 597
30, 345
12. 006
25, 711
8,136
33,296
41
13,964
17,853
21.444
52, 442
24, 005
70, 742
46,3^
223,299
4''
64,176
79, 237
100, 299
293, 259
147, 342
367. 536
175,949
696, 786
43
1,500
1,936
2.705
7,444
3,614
6,831
2,699
5, 043
44
41,583
52, 491
66, 522
193,017
97, 713
264,442
160, 698
578, 085
45
2,470
3,350
6,432
15, 907
12, 661
29,548
11,332
32, 030
46
366
859
1,568
8,290
7,159
17,567
15, 452
36, 248
47
2,371
4,264
7.589
24,148
10, 980
36, 152
25, 555
101,492
48
469
1,415
1,816
7,749
2,267
6,670
3.644
7,745
49
566, 656
642, 734
747, 591
1,757,319
762, 232
1,673,509
730,415
1,580,169
50
4,832,150
5, 540. 535
6, 333, 003
15, 109. 107
6, 212. 161
14, 864, 664
5,125.486
17,861,690
51
367, 571
484, 431
653,917
1,901,566 '
992. 474
2, 242, 478
1, 105, 146
3, 609, 246
5?
367, 352
484. 104
653. 189
1,898.716
990,758
2. 239, 204
1,103,414
3, 607, 753
53
3,015
2,855
2,215
5.788
1,422
3,352
3,555
14, 144
54
59, 870
85, 453
113.918
316, 458
155,082
356, 766
176, 199
570, 148
55
18, 283
24, 131
32,400
91,699
45,118
104,194
51,522
166,434
56
4,439
5,191
6,431
13, 762
5,626
10,177
2,088
3,665
17
67, 627
106.201
162, 225
531,294
322, 071
695, 596
324, 577
958, 293
58
150,220
220, 977
314, 974
953, 214
527, 898
1,166,732
554. 387
1,698,540 {
59
217, 351
263, 454
338, 943
948, 352
464. 576
1.075,745
550, 759
1,910,706
60
66, 572
91,989
125,441
408,064
236, 261
612,374
356, 659
1,335.452
Rl
5,207
8,753
10,487
19.166
5,514
3,973
3.606
3,423 !
52
266
STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for basic tables 10-16, pages 238-265
(Facsimiles of Forms 1120 and 1121, to which references are made, appear on pages 324 and 339)
1 Tables 10-16 are limited to returns filed under the
provisions of the Internal Revenue Code as amended
applicable to the calendar year 1941. Returns
included are those for the calendar year 1941, for a
fiscal year ending in the period January through
June 1942, and for a part year beginning in 1941 with
the greater part of the accounting period in 1941.
(For data tabulated from excess profits tax returns
filed for 1941 under 1940 law provisions, see text tables,
pp. 29-30.)
- The adjusted excess profits net income or deficit
is the excess profits net income less the sum of the
specific exemption, excess profits credit, and excess
profits credit carry-over. In a part year return, the
excess pioflts net income is placed on an' annual basis
before making this computation; accordingly, the
adjusted excess profits net income shown for such a
case is on an annual basis. For returns with no ad-
justed excess profits net income, filed under the 1911
law, the data are based in part on an estimate as
explained in text on p. 24.
i The classification by normal-tax net income
classes is based on normal-tax net income as reported
on page 1, Form 1120, which is equal to total income
less the sum of (1) total deductions, (2) declared value
excess-profits tax, (3) partially tax-exempt interest,
to the extent such interest is included in total income,
<4) dividends received credit, and (5) excess profits
tax. The amount tabulated as "Normal-tax net
income" is obtained from item 1, Form 1121, and cor-
responds to the amount described above except that
the excess profits tax has not been deducted.
« The excess profits net income or deficit is obtained
from the normal-tax net income (computed without
deduction of excess profits tax) by making certain
adjustments, consisting principally of the exclusion
of (1) dividends received from domestic corporations
(this adjustment refers to that portion of dividends
not deducted as dividends received credit in com-
puting normal-tax net income), and (2) gains or losses
from the sale or exchange of capital assets (deprecia-
ble or nondepreciabJe) held for more than 18 months.
For detailed description of the adjustments, see items
2 through 18, schedules I and II, Form 1121. (See
facsimile on p. 339.)
5 The excess profits credit is a deduction from the
excess profits net income and is computed by one or
the other of the following methods:
(a) Under section 713 of the Code the credit is
based on income (schedule A, Form 1121), and for
domestic corporations is 95 percent of the average
base period net income plus 8 percent of net capital
addition or minus G percent of net capital reduction;
for foreign corpoi ations this credit is 9,5 iiercent of the
average base period net income. The method based
on income permits the base period net income to be
determined on either a geneial average basis or on
increased earnings in the last half of the base period.
The base period, in general, begins after December 31 ,
1935, and (>nds with the close of the last taxable year
beginning before January 1, 1940.
(6) Under section 714 the credit is based on in-
vested capital (schedule B, Form 1 121), and foi returns
with taxable year beginning in 1941 is 8 percent of
invested capital for the taxable year not in excess of
$5,000,000 plus 7 percent of the invested capital in
excess of that amount.
« The excess profits credit carry-over, which is
reported for the first time on returns for tHxal)l(^ years
beginning in 1941, consists of the unu.scd excess prof-
its credit, i. e., the cxcmss of th(^ excess piofits credit
over the excess profits net iiiconie for the preceding
taxable year, computcfl under law f)rovisinns appli-
cable to taxable; years beginning in 1911. The; credit
carry-over shown is the total amount rcj)orted, ex-
cept in table 14, page 248, where the amount shown
for returns with no adjustcnl excess prolils iiel, iiicoiiK;
is the elTective portion only. The aniourit shown in
basic tables 10-13 foi returns with no adjiisled excess
profits net income understates the total amotmt
available by reason of the fact that the credit carry-
over is frequently omitted from returns in which the
specific exemption and excess profits credit together
equal or exceed the excess profits net income.
" Included in "Deficit" class are returns with de-
ductions equal to income.
8 Deficit.
* Net income less deficit.
'» For types of corporations permitted to file a
consolidated return and criterion of aflBliation, see
"Synopsis of Federal Tax Laws," page 317.
" Number of subsidiaries consists of the number of
affiliated corporations which together with the com-
mon parent corporation file a consolidated excess
profits tax return.
'2 The industrial classification is based on the busi-
ness activity reported on the return. When multiple
businesses are reported on a return, the classification
is determined by the business activity which accounts
for the largest percentage of total receipts. There-
fore, the industrial groups do not reflect pure indus-
try classifications. The industrial groups are based
on the Standard Industrial Classification, issued by
the Division of Statistical Standards, Bureau of the
Budget, Executive Office of the President.
13 The industrial group "Investment trusts and
in vestmeiit companies" consists of corporations which
derived 90 percent or more of receipts from invest-
ments and which at no time during the taxable year
had investments in corporations in which they
owned 50 percent or more of the voting stock.
'* The industrial group "Other investment compa-
nies, including holding companies" consists of (1)
corporations which derived 90 percent or more of
receipts from investments and which at some time
during the taxable year had investments in corpora-
tions in which they owned 50 percent or more of the
voting stock and (2) corporations which derived less
than 90 percent but more than 50 percent of receipts
from investments.
'5 Amount shown as "Cash" includes bank
deposits.
16 Amount shown as "Investments, Government
obligations" consists of obligations of the United
States or agency or instrumentality thereof as well
as obligations of States, Territories, and political sub-
divisions thereof, the District of Columbia, and
United States possessions.
" Capital assets consist of (1) depreciable tangible
assets such as buildings, fixed mechanical equip-
ment, manufacturing facilities, transportation facili-
ties, and furniture and fixtures, (2) depletable tangi-
ble assets— natural resources, (.S) intangible as.sets
such as patents, franchises, formulas, copyrights,
leaseholds, goodwill, and trade-marks, and (4) land,
shown separately in tables 15 and 16.
1' Amount shown as "Other assets" consists of
assets not elsewhere reported on return, such as:
Sinking funds; other funds; deferred charges; organi-
zation expenses; prepaid and suspense items; interest,
discount, coupons, and dividends receivable; guar-
anty deposits, and deposits on contracts and meters;
and cash value of life insurance. "Other assets" of
life insurance companies includes market value of
real estate and bonds and stocks in excess of book
value; interest, rents, and premiums due; and agents'
balances.
'« Assets and liabilities are tabulated as of Decem-
ber 31, 1941, or close of fiscal year nearest thereto.
Total a-ssets classes arc ba.sed on th(> net amount of
total assets after reserves for depreciation, depletion,
amortization, and bad debts. Adjustments are
made in tatuilating the data, as follows; (1) Reserves,
; Footnotes continued on p. 2(,7)
STATISTICS OF INCOME FOR 1941, PART 2
267
Footnotes for basic tables 10-16, pages 238-265 — Continued
(Facsimiles of Forms 1120 and 1121, to which references are made, appear on pages 324 and 339)
when shown under liabilities, are used to reduce
corresponding asset accounts, and "Total assets"
and "Total liabilities" are decreased by the amount
of such reserves, and (2) a deficit in surplus, shown
under assets, is transferred to liabilities, and "Total
assets" and "Total liabilities" are decreased by the
amount of the deficit.
20 Amount shown as "Other liabilities" consists
of liabilities not elsewhere reported on return, such
as: Deferred and suspense items; accrued expenses;
dividends payable; funds held in trust; borrowed
securities; outstanding coupons and certificates; and
overdrafts. "Other liabilities" of life insurance
companies includes the net value of outstanding
policies and annuities, and borrowed money. "Other
liabilities" of banks includes deposits (time, savings,
demand, etc.) and bank notes iu circulation. "Other
liabilities" of building and loan associations includes
certificates of deposit.
21 Capital stock which is not definitely designated
as either common or preferred is tabulated under
common stock.
" Amount shown as "Surplus and undivided
profits" consists of paid-in or capital surplus and
earned surplus and undivided profits. See note 23.
23 Amount shown as "Deficit" consists of negative
amounts of earned surplus and undivided profits.
2< "Gross sales" consists of amounts received for
goods, less returns and allowances, in transactions
where inventories are an income-determining factor.
For "Cost of goods sold," see "Deductions."
25 "Gross receipts from operations" consists of
amounts received from transactions in which inven-
tories are not an income-determining factor. For
"Cost of operations," see "Deductions."
26 "Interest received on Government obligations,
wholly taxable" consists of interest on Treasury
notes of the National Defense Series and obligations
issued on or after March 1 , 1941, by the United States
or any agency or instrumentality thereof, reported
as item 8(b), page 1, Form 1120.
2' "Interest received on Government obligations,
subject to declared value excess-profits tax and sur-
tax" consists of interest on United States savings
bonds and Treasury bonds owned in principal
amount of over $5,000 issued prior to March 1, 1941,
reported as item 8(a), page 1, Form 1120.
■• 28 "Interest received on Government obligations,
subject to surtax only" consists of interest on obli-
gations . of instrumentalities of the United States
(other than obligations issued under the Federal
Farm Loan Act, or under such Act as amended)
issued prior to March 1, 1941, reported as item 31,
page 1, Form 1120.
29 "Interest received on Government obligations,
wholly tax-exempt" consists of interest on obliga-
tions of States, Territories, or political subdivisions
thereof, the District of Columbia, and United States
possessions; obligations of the United States issued
on or before September 1, 1917; Treasury notes issued
prior to December 1, 1940, Treasury bills, and Treas-
ury certificates of indebtedness issued prior to March
1, 1941; obligations issued prior to March 1, 1941,
under the Federal Farm Loan Act, or under such
Act as amended; and United States savings bonds
and Treasury bonds owned in principal amount of
.$5,000 or less issued prior to March 1, 1941. Interest
from such sources is reported under item 15(a) of
schedule M, page 4, Form 1120.
3" Amount shown as "Rents and royalties" consists
of gross amounts received. The amounts of depre-
ciation, repairs, interest, taxes, and other expenses,
which are deductible from the gross amount received
for rents, and the amount erf depletion, which is
deductible from the gross amount of royalties re-
ceived, are included in the respective deduction
items.
31 "Netcapitalgainor loss" is the net amount of gain or
loss arising from the sale or exchange of capital assets.
The term "Capital assets" means property held by
the taxpayer (whether or not connected with trade
or business) but excludes (1) stock in trade or other
property which would properly be included in in-
ventory if on hand at the close of the taxable year,
(2) property held primarily for sale to customers in
the ordinary course of trade or business, (3) property
used in trade or business, of a character which is
subject to the allowance for 'depreciation, and (4)
Government obligations issued on or after March 1,
1941, on a discount basis and payable without inter-
est at a fixed maturity date not exceeding one year
from the date of issue. Capital gains and losses are
classified as "short-term" if the assets were held 18
months or less, "long-term" if the assets were held
for more than 18 months. In computing net income
for the current year, a net short-term capital gain
and a net long-term capital gain or loss are included
but a net short-term capital loss is excluded. How-
ever, a net short-term capital loss (in an amount
not in excess of the net income for the year in which
the loss was sustained) may be carried forward and
applied against any short-term capital gain of the
succeeding taxable year not already offset by capital
losses of such succeeding year. This carry-over is
restricted to one year.
32 "Net gain or loss, sales other than capital assets"
is the net amount of gain or loss arising from the
sale or exchange of property used in trade or business,
of a character which is subject to the allowance foi
depreciation.
33 "Dividends, domestic corporations" is the
amount reported in column 2, schedule E, page 3,
Form 1120. This amount consists of dividends re-
ceived from domestic corporations subject to iLcome
taxation under chapter 1 of the Internal Revenue
Code and is he amount used for computation of the
dividends received credit. There is excluded from
this amount dividends from corporations organized
under the China Trade Act, 1922, and corporations
entitled to the benefits of section 251 of the Internal
Revenue Code (corporations receiving a large portion
of their gross income from sources within a possession
of the United States) such dividends being included
in "Other receipts."
3-1 "Dividends, foreign corporations" is the amount
reported in column 3, schedule E, page 3, Form 1120,
and is not used for the computation of dividends
received credit.
3! "Other receipts" includes dividends from corpo
rations organized imder the China Trade Act, 1922,
and corporations entitled to the benefits of section
251 of the Internal Revenue Code (corporations
receiving a large portion of their gross income from
sources within a possession of the United States),
and amounts not elsewhere reported on the return
such as: Profit from sales of commodities other than
the principal commodity in which the corporation
deals; income from minor operations; bad debts re-
covered; cash discount; conditional payments from
United States Department of Agriculture; Federal
income tax paid by lessee; income from claims, license
rights, judgments, and joint ventures; net amount
under operating agreements; net profit from com-
missaries; profit on dealing in futures; profit on
prior years' collections (installment basis); profit on
purchase of corporation's own bonds; recoveries of
bonds, stocks, and other securities; refunds for
cancellation of contracts, for insurance, management
expenses, and processing taxes; and income from
sales of scrap, salvage, or waste.
38 "Total compiled receipts" consists of gross sales
(less returns and allowances), gross receipts from
operations (where inventories are not an income-
determining factor), all interest received on Govern-
ment obligations, other interest, rents and royalties,
net short-term capital gain, net long-term capital
gain, net gain from sale or exchange of property other
than rapital assets, dividends, and other receipts re-
(Footnotes continued on p. 268)
268
STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for basic tables 10-16, 'pages 238-265 — Continued
(Facsimiles of Forms 1120 and 1121, to which references are made, appear on pages 324 and 339)
quired to be included in gross income, described in « "Net income" is the amount reported for de-
note 35. "Total compiled receipts" excludes non- clared value excess-profits tax computation adjusted
taxable income other than tax-exempt interest re- by excluding net operating loss deduction (items
ceived on certain Government obligations. 30 and 26, respectively, page 1, Form 1120).
37 Where the amount reported as "Cost of goods
sold" or "Cost of operations" includes items of deduc-
tions such as depreciation, taxes, etc., these items
ordinarily are not transferred to their specific head-
ings. However, an exception is made with respect
to amortization of emergency facilities reported in
costs, such amount being transferred to "Amortiza-
tion."
3s Amount shown as "Repairs" is the cost of
incidental repairs, including labor and supplies,
which do not add materially to the value of the
property or appreciably prolong its life.
39 The item "Taxes paid" excludes (1) Federal
income tax and Federal excess profits taxes, (2) estate,
inheritance, legacy, succession, and gift taxes, (3)
income taxes paid to a foreign country or possession
of the United States if any portion is claimed as a
tax credit, (4) taxes assessed against local benefits,
(5) Federal taxes paid on tax-free covenant bonds,
and (6) taxes reported in "Cost of goods sold" and
"Cost of operations."
«• The deduction claimed for "Contributions or
gifts" is limited to 5 percent of net income as com-
puted without the benefit of this deduction.
" Amount shown as "Amortization" is the deduc-
tion provided by the Second Revenue Act of 1940
which allows for the amortization of the cost of
emergency facilities necessary for national defense.
« Included in "Other deductions" are (1) negative
amounts reported under income, (2) losses by aban-
donment, fire, storm, shipwreck, or other casualty,
and theft, (3) salaries and wages not deducted else-
where on the return, and (4) amounts not otherwise
reported as: Administrative, general, and office ex-
penses; advertising costs; bonuses and commissions;
delivery charges; freight and shipping expenses;
payments in connection with law suits; research
expenses; sales discount; selling costs; travel expenses;
and unrealized profits on installment sales.
« The "Net operating loss deduction" is the net
operating loss carry-over reduced by certain adjust-
ments. In general, the net operating loss carry-over
is the sum of the net operating losses, if any, for the
two preceding taxable years. If there is net income
in the first preceding taxable year, the net operating
loss for the second preceding taxable year is reduced
to the extent such loss has been absorbed by such
net income.
« The excess profits tax shown is that imposed by
section 710 of the Internal Revenue Code as amended
and should not be confused with the declared value
excess-profits tax. The amount tabulated here is
the excess profits tax deduction (item 35, page 1,
Form 1120) allowed in the computation of norma!
tax net income.
■16 The item "Dividends paid in caSh and assets
other than own stock" does not include liquidating
dividends. Dividend payments are reported in
schedule M, page 4, Form 1120.
4'' Amount shown as "Compensation of officers"
excludes compensation of officers of life insurance
companies which file Form 1120L. Data not avail-
able.
4« "Other deductions" shown for the major group
"Insurance carriers, agents, etc.," includes special
deductions of life insurance companies relating to
re.seive for dividends and reserve funds required by
law.
■" See notes 47 and 48.
50 Less than $500.
5' Life insurance companies are required to in-
clude only interest, dividends, and rents in gross
income, and for 1941, as in prior tax years, are allowed
as deductions the earnings needed to maintain
reserve funds required by law and reserve for divi-
dends. See note 48.
HISTORICAL DATA
CORPORATION INCOME AND PROFITS TAX RETURNS
BASIC TABLES
17. General summary, 1909-1941.
18. Net income and deficit classes, 1938-1941,
19. Receipts and deductions, 1926-1941.
20. Assets and liabilities, 1926-1941.
21. I ndustrial groups , 1 932- 1 94 1 .
22. States and Territories, 1932-1941.
23. Consolidated returns, 1928-1941.
269
589783—44 18
270
STATISTICS OF INCOME FOR 1941, PART 2
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r-Hiocot-cocor^OioO'— lO*.— I— it-Ht^coo^-^iot-^i— lOiooo^r-Hh^
.-T .-T — r —T t-T ** i-T i-h" — T of co" .
^ 3
^^ o
OOCDOOOOOiO-— 'O0"T)OO
I'rt^co-^'-Hcocooocooir'-coi-Hr-^Oico-^io
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OOOOOOC?05C0»O'^(OO00»CC0cDrt-C0t^0000r0^Oi'— <r^0^000ir^0»O
o— <co— 'Tj'oo»«o— ^'— 'OjcocO'— "cocoro— •r-cooococoio»OTrco'^'OcocO'-H
05C0O»0i— 'Tp-HCDCOCO'— 'OCOCDOlGOGOr-OO-— 'lOO^CO^OOOt^COt-^COOlO^O'— I
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<o^"^'*--''-^t^oooioi-^ojco^^r-oiO'-'Cooioor^t^co
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iOiot^oiooocoTr<'-<^ocococotoor--t-^oi'^i-050'^OiOs
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iiococofo-— 'OOt--"*'^GO':DI^'
o^os-^ooOfOcoo^oo^-^^ol
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SO'0C0O-*''^«O0Jr-0s0S0SC0C00<I"-01C001C0C0OC0Q00SC0t^i^OC
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lOr^OSO-— t-— lOOOSfOCOO^C^'-H.— lO
■^■»J'-f»O»C»OiO»O»O40»OU0iCi»OtO»O
OsO^0IC0-^»0c0r-000sO'-^0JC^"^»Q':D^-0Q0sO'-<01C0'rt<»0CDI^00^g^
O^f-H--l-^;-<^^rH^Xs?l0^0^(N0^0^0J0J050^C0C0C0C0C0C0MC0C^
OlOSOSOsOsaiOiOsOsasOSCiOSOsOiOsosOsOsOsOSOSOsOSOSOSOsOSOSOsOsOSOS
STATISTICS OF INCOME FOR 1941, PART 2
271
Table 18.- — Corporation returns, 1938-1941} '" hy net income and deficit classes:
Number of returns, net income, and deficit
[Net income and deficit classes and money figures in thousands of dollars]
Returns with net income *
Net income classes *
1938
1939
1940
1941
Num-
ber of
returns
Net
income <
Num-
ber of
returns
Net
income *
Num-
ber of
returns
Net
income <
Num-
ber of
returns
Net
income *
Under 1
1 under 2
66, 024
21,016
12, 940
8,943
6,779
17, 702
8,573
5,210
3,941
7,477
4,740
3,477
1,432
756
705
169
22, 594
30, 479
31, 870
31,062
30,410
126, 457
105, 252
90, 524
88, 488
264, 367
332, 157
538. 084
497, 886
529, 955
1, 445, 832
2. 360. 562
73, 604
24,310
14, 983
10, 404
7,974
21,701
10, 437
6,351
5,269
9,391
6,314
4,649
1,885
1,046
943
218
25, 650
35, 177
36. 901
36, 105
35, 759
155, 145
128, 035
110,340
118, 469
331, 879
443, 564
717,816
661, 5177
729, 305
1, 9v:7, 062
3. 263. 929
77, 282
27, 056
16,615
11,955
9,803
24, 508
11, g.w
7,245
5,703
11, 058
7,355
5, 539
2,220
1,237
1,166
285
27, 791
39, 206
40,944
41,521
44, 047
174,912
146, 761
125,475
128, 152
388, 485
515,462
858, 466
782. 570
871. 395
2. 424, 760
4, 593, 277
79, 203
30, 556
19,711
14, 472
12, 927
31, 766
15, 777
9,776
7,297
16, 166
10,445
8,581
3,564
2,061
1,853
473
30,008
44, 383
2 under 3
48, 646
3 under 4.
50, 370
4 under 5 _- .
58, 227
5 under 10
227, 782
10 under 15
15 under 20
193, 372
169,790
20 under 25
163, 599
25 under 50
568, 522
50 under 100
736, 059
100 under 250
1,333,121
250 under 500 .-.
1, 2.';0, 372
500under 1,000
1,000 under 5,0 QO
5 000 and over 1
1,438,504
3, 845, 024
7, 953, 314
Total
169,884 6.525.979
199,479 8.826.713
220,977 11.203.224
264, 628
18, 111. 095
Returns with no net income *
Deficit classes *
1938
1939
1940
1941
Num-
ber of
returns
Deficit <
Num-
ber of
returns
Deficit *
Num-
ber of
returns
Deficit*
Num-
ber of
returns
Deficit'
Under 1
1 under 2 _
160, 549
41, 008
22, 550
14, 071
9.877
23, 268
9,196
5,067
3,171
6,183
3.221
1,871
564
283
217
52
49, 950
59, 157
55, 374
48, 764
44, 207
163, 462
112,242
87, 589
70, 846
215, 180
223,331
283, 893
197, 979
195, 121
450, 646
595, 357
154, 828
36, 396
18, 844
11,568
7,896
18, 157
7,038
3,794
2,294
4,745
2,423
1,386
382
187
167
33
46, 148
52, 269
46, 238
40, 106
35, 284
127, 588
85, 900
65, 507
51, 125
164, 899
166, 724
212, 231
130, 525
129, 086
346, 130
392, 388
146, 742
32, 993
17, 150
10, 475
7,039
16, 443
6,601
3,503
2,153
4,448
2,287
1,354
454
201
179
43
43, 090
47, 283
42, 074
36, 298
31, 484
115,442
80, 490
60, 633
48, 203
155, 092
157, 125
206, 130
154, 145
138, 088
367, 625
600, 593
124, 929
25, 451
12, 678
7,655
5,263
12, 309
4.792
2,622
1,568
3,375
1,784
1,122
367
187
146
30
35, 275
36, 378
2 under 3
31, 098
3 under 4. ..
26. 539
4 under 5
23, 572
6 under 10
86, 444
10 under 15
58, 502
15 under 20
45, 308
20 under 25
34, 983
25 under 50. _. _
118,215
50 under 100
124, 124
100 under 250
250 under 500
170, 599
128, 296
500 under 1,000
1,000 under 5,000
6,000 and over . _-.
133, 223
301, 601
424, 396
Total
301, 148
2, 853, 098
270, 138
2, 092, 148
252, 065
2, 283, 795
204, 278
1, 778, 553
For footnotes, see pp. 293-298.
272
STATISTICS OF INCOME FOR 1941, PART 2
Table 19. — Corporation returns, 1926-1941:^ Composite data for returns with
receipts, compiled deductions, compiled net profit or net loss, net income or
[Money figures in
1926
1928
1929
1930
Number of returns " -
455, 320
425, 675
443,611
456, 021
463, 036
Receipts, taxable:
Gross sales '^ .
Gross profit (1926-31) or gross receipts
(1932-41) from operations. '3
Interest on Government obligations (1941) n
Interest, not on Government obligations- __
Rents '5 (1926-37); rents and royalties is
(1938-41).
Net gain, sales of stocks, bonds, and other
assets (1929-31); net capital eain '» (1932-
41).
Net gain, sales other than capital assets '■
(1938-41).
Dividends from:
Domestic corporations '* (1936-41)
Foreign corporations
Other receipts "_
Receipts, partially and wholly tax-exempt:
Dividends from domestic corporations '8
(1926-35).
Interest on Government obligations:
Subject to declared value excess-profits
tax (1934-41) and surtax (1941). 20
Subject to surtax only (1941) 21
Wholly tax-exempt 22
106, 206
9,332
106,864
9,420
112, 436
10, 334
118,101
28, 598
» 97, 941
25, 267
3.712
(33)
(33)
3,989
(33)
(33)
4,476
(33)
(33)
5, 036
2,391
1,315
4,707
2,480
(33)
21,373
1,506
(33)
22,468
(33)
23, 619
(33)
2,587
2,593
(33)
6 2, 450
500
501
9523
«526
Total compiled receipts 23_
142, 629
144,899
9 153, 305
161,158
9 136, 588
Deductions:
Cost of goods sold -^
Cost of operations 24 (1932-41) i3
Compensation of officers 25
Rent paid on business property
Repairs 26 (193^-41)
Bad debts
Interest paid
Taxes paid 2'
Contributions or gifts 2s (1936-41)
Depreciation
Depletion ---
Net loss, sale of stocks, bonds, and other
assets (1930-31); net capital loss 2t (1932-41),
Net loss, sales other than capital assets '"
(1938-41).
Other deductions 3o
82, 484
83, 487
87, 265
91,076
9 76, 190
(35)
(35)
(35)
(35)
3,989
1,878
(35)
(35)
(35)
814
4,375
2,014
3,199
(35)
(35)
804
4.581
2,203
3,337
(35)
(35)
942
4,925
9 2, 252
3,139
(35)
(35)
980
4,861
2,297
3,270
571
(35)
3,346
502
(35)
3, 597
515
(35)
3,871
559
(35)
3, 986
463
936
40, 927
41, 692
' 40, 473
9 39, 088
Total compiled deductions _
133,119
136, 230
9 142, 638
149, 289
9 131, 940
Compiled net profit or net loss-..
Net income or deficit * 31 ^
Net operating loss deduction 32...
Dividends paid: '
Cash and assets other than own stock.
Corporation's own stock
9.510
7,505
236
5,945
758
8,669
6,510
244
9 6. 423
9703
9 10,667
8,227
301
9 7, 083
550
11,870
8, 740
392
9 8, 520
1,289
For footnotes, sec pp. 293-298.
STATISTICS OF INCOME FOR 1941, PART 2
273
net income and returns with no net income, showing number of returns, compiled
deficit, net operating loss deduction, and dividends paid by type of dividend
millions of dollars]
1931
1932
1933
1934
1935
1936
1937
1938-
1939
1940
1941
469, 704
451, 884
446, 842
469, 804
477, 113
478, 857
477, 838
471, 032
469, 617
473, 042
468, 906
1
75, 494
21, 945
9 53, 294
» 19, 584
57, 777
18, 982
74, 309
18, 552
85, 332
19, 790
100, 586
22, 886
108, 383
24, 862
91, 195
20, 594
101, 576
22, 296
114, 642
24, 483
151,325
29, 379
38'
2,565
2,159
163
184
2,235
183
1,391
2
3
4
4,122
2,251
299
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
2,601
1,549
305
2,420
2,142
207
.95
1,791
312
966
2,444
2,319
212
115
1,906
250
998
2,496
2,024
188
178
2,021
245
1,177
5
6
7
8
2,677
(33)
1,208
2,682
209
1,111
9
(33)
1,436
1,969
(33)
1,387
1,260
(33)
1,159
1,026
(33)
1,229
2,217
(34)
(33)
1,122
3,014
(34)
10
11
1?
280
265
274
320
355
467
63
279
13
14
542
554
592
"659
714
445
476
458
443
429
16
108, 057
81, 638
84, 234
n01,490
114, 650
132, 723
142, 443
120, 454
132, 878
148, 237
190, 432
16
58, 774
» 41, 430
(35)
2,133
(35)
(35)
1,313
4,043
2,087
43, 626
9,420
1,995
1,422
(35)
1,249
3,511
2,124
57, 458
8,670
2,173
1,486
(35)
1,182
3,422
2,162
66, 279
9,190
2,345
1,542
(35)
965
3,261
2,628
78, 023
10, 859
2,713
1,530
(35)
901
3,081
2,958
30
3,286
437
142
84, 168
12,231
2,809
1,565
(35)
756
3,003
3, 666
33
3,342
524
165
70, 274
9,802
2,591
1,556
(35)
672
2,871
3,765
27
3, 352
437
75
152
20, 748
77, 272
11, 128
2,697
1,603
1,098
715
2,797
3,995
31
3,443
438
65
186
20, 233
86, 739
12, 297
2,950
1,966
1,237
617
2,701
4,317
38
36 3, 528
475
703
336
20, 985
113,317
15, 141
3,472
2,082
1,598
736
2,624
5,025
58
36 3, 879
544
1,006
297
23, 979
17
18
2,698
(35)
(35)
1,183
4,492
2,231
19
20
21
22
23
24
25
4,003
268
1,702
3,693
247
1,705
3,496
246
1,686
3,362
312
297
3,352
349
239
26
27
28
29
33, 484
« 28, 816
16, 390
17, 996
19, 076
20, 991
22, 352
30
108, 834
85, 467
85, 164
98, 520
109, 227
124, 952
134, 613
116,323
125, 700
138, 889
173, 757
31
37 777
3' 3, 288
136
6,151
164
3? 3, 829
3' 5, 644
88
3,886
143
37 930
3' 2, 547
9 2, 970
94
5,423
1,696
7,771
7,326
7,830
7,354
4,131
3,673
7,178
6,735
9,348
8,919
123
6,089
140
16, 675
16, 333
330
6,701
179
32
33
34
3,127
102
« 4, 859
215
5,941
136
7,379
345
7,514
189
5,013
85
5,747
90
35
36
274
STATISTICS OF INCOME FOR 1941, PART 2
Table 20. — Corporation rehirns with balance sheets, 1926-19^1 ^ Composite data for
assets, liabilities, compiled receipts, compiled deductions, compiled net
[Money
figures in
1926 38
1927 38
1928 38
1929 38
1930 38
1
Number of returns with balance sheets 3'
Assets:
Cash «
359, 449
379, 156
384, 548
398,815
403, 173
9
16, 802
23, 552
20, 939
8,094
(60)
97, 523
« 94, 669
16, 851
50, 959
21, 005
9,781
(60)
104, 945
84, 001
21, 952
62, 804
20, 751
10, 116
(50)
109, 931
81, 663
22, 371
66, 810
21,911
10, 338
60 55, 844
116, 446
so 42, 057
21,012
59, 675
18, 771
10, 228
83, 809
120, 994
19,511
3
Notes and accounts receivable (less reserve,
except for 1926).
5
Investments, Government obligations » —
7
Other assets ^2 -- -
Total assets ^^ --_ -.-
f)
0 262. 179
287, 542
307, 218
335, 778
334, 002
Liabilities:
Notes and accounts payable *' (1926-36)
Bonded debt and mortg-ages « (I926v36)
10
11
12
13
24, 042
9 31,801
24, 126
9 37, 740
27, 437
42,943
29, 453
46,643
26, 870
50, 282
Bonds, notes, and mortgages payable
(1937-41):
(45)
(46)
9 87, 076
17, 146
67, 517
(45)
(46)
6 93. 274
17, 800
74, 081
(«)
r«)
93, 950
18, 475
77, 256
(46)
9 99, 314
19, 738
9 85, 520
(45)
(46)
9 95, 568
19. 117
87, 067
14
15
16
17
18
Surplus reserves " (1938-41)
19
''O
39, 154
4,557
45,415
4,893
52, 069
4,913
60, 699
5,588
9 61, 832
6,734
Total liabilities ** -
21
9 262, 179
287, 542
307, 218
335, 778
334, 002
Receipts, taxable: ^s
22
23
Interest on Government obligations (1941) i<.
25
26
Rents '5 (1931-37)- rents and royalties " -
27
28
29
30
31
32
33
34
35
(1938-41).
Net gain, sales of stocks, bonds, and other
assets (1931): net capital gain lo (1932-41).
Net gain, sales other than capital assets "
(1938-41).
Dividends from:
Receipts, partially and wholly tax-exempt:
Dividends from domestic corporations '»
(1931-35).
Interest on Government obligations:
Subject to declared value excess-profits
tax 21) (1934-41) and surtax (1941)
36
Deductions: ^8
37
38
39
40
41
42
TJonfiirs 26 nQaQ-411
43
44
45
46
47
48
49
50
Net loss, sales of stocks, bonds, and other
assets (1931); not capital loss ^s (1932-41).
Net loss, sales other than capital assets ^^
(1938-41).
Total compiled deductions
51
62
53
54
For footnotes, see pp. 293-298.
STATISTICS OF INCOME FOR 1941, PART 2
275
returns with net income and returns with no net income, showing mtmher of returns,
profit or net loss, net income or deficit, and net operating loss deduction
millions of dollars]
1931
1932
1933
1934
1936
1936
1937
1938
1939
1940
1941
381, 088
392,021 1 388,564
410, 626
415,205 415,654 416,902 ^411,941
412, 759
413, 716
407, 053
1
15,880
48, 667
15, 140
10, 667
8 75, 305
9114,303
16, 634
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
11,8S2
24, 346
40, 329
18, 515
23,9=8
85, 065
100, 320
10, 794
27, 973
37, 763
16, 582
26, 527
82, 701
99, 299
10, 176
34, 054
39, 451
17, 718
27, 353
81, 165
100, 226
6,846
41, 423
42, 864
19, 463
29, 570
80, 429
100, 214
6,514
41, 629
49, 265
25, 068
36, 548
80, 354
100, 698
6,911
2
3
4
5
6
7
8
296, 497
280,083 1 268,206
301, 307
303, 150
303, 180
303, 357
300,022 1 306,801
320, 478
340, 462
9
23, 251
48, 101
20, 562
9 47, 222
19, 362
45, 883
27, 021
48, 604
25, 332
49, 822
25, 580
47,023
10
11
14, 748
10, 373
49, 326
87, 276
18, 364
77, 339
13, 747
8,104
50, 278
90, 455
18, 108
74, 792
7,301
50, 367
13, 131
14, 506
8,027
49, 388
98, 016
9 17, 213
73, 482
9 7, 889
51, 302
13, 022
14, 696
7,987
49, 199
110,210
17, 138
72, 292
8,358
63, 275
12, 676
16, 350
9,242
49, 542
122, 728
16, 214
71,577
10, 065
66, 693
11,858
1?
(45)
(46)
e 81, 782
e 19, 217
79, 794
(45)
(46)
9 78, 730
19, 076
78, 413
(45)
(46)
75, 384
18, 394
74, 088
(45)
(46)
84, 096
19, 976
84, 970
(45)
(46)
89, 066
19, 533
82, 733
(45)
(46)
97, 109
18, 691
78, 072
13
14
15
16
17
18
51, 976
7,624
45, 664
9,584
44, 792
9,696
48, 986
12, 347
48, 828
12, 163
48, 043
11,237
58, 524
12, 694
19
20
296, 497
280, 083
268, 206
301, 307
303, 150
303, 180
303, 367
300, 022
306, 801
320, 478
340, 452
21
73, 783
13 21, 206
9 52, 586
9 18, 640
56, 961
17, 991
72, 825
17, 913
83, 879
19, 005
96, 130
21, 245
106, 086
23, 918
89, 322
19, 888
100, 040
21, 561
112, 781
23, 754
148, 276
28, 442
38
2,523
2,046
150
165
2,168
182
1,351
22
23
■'4
4,024
2,110
284
3,418
1,813
136
2,713
1,556
253
2,640
1,498
233
2,504
1,546
452
2,478
1,410
563
2,657
1,466
271
2,384
2,037
201
89
1,701
305
946
2,405
2,207
206
108
1,860
247
978
2,461
1,939
183
166
1,970
244
1,165
26
26
27
2,573
(33)
1,168
2,601
204
1,084
oq
(33)
1,393
1,905
(33)
1,356
1,207
(33)
1,130
962
(S3)
1,207
2,129
(34)
(33)
1,096
2,917
(34)
30
31
3?
273
259
269
315
350
460
62
276
?3
34
533
105, 238
545
582
9 650
699
440
471
452
437
423
35
79, 701
82, 148
9 99,095
112,098
126, 269
138, 907
117,596
130, 365
145, 427
186, 137
36
57, 374
(13)
2,574
(35)
(35)
1,153
4,369
. 2, 172
9 40, 842
(35)
2,064
(35)
(35)
1,285
3,906
2,012
42, 981
8,988
1,928
1.376
(35)
1,213
3,375
2,044
56, 213
8,443
2,102
1,438
(35)
1,151
3,339
2,108
65, 062
8,864
2,267
1,489
(35)
928
3,160
2,661
74, 364
10,083
2,604
1,461
(35)
866
2,931
2,807
29
3,148
403
123
82, 307
11,842
2,710
1,514
(35)
733
2,926
3,671
32
3,256
500
144
68, 742
9,629
2,606
1,509
(35)
650
2,803
3,680
27
3,286
426
70
123
20,102
76, 007
10, 821
2,621
1, f60
1,079
686
2,726
3,916
30
3,378
427
61
146
19, 672
85, 214
12, 026
2,866
1,912
1,217
599
2,646
4,241
38
51 3, 467
465
653
219
20, 393
110,978
14, 759
3,364
2,020
1,560
703
2,654
4,921
68
«i 3, 777
503
936
219
23, 193
37
38
39
40
41
42
43
44
^'^
3,933
261
1,539
3,624
242
1,538
3,423
243
1,488
3,290
303
258
3,273
338
179
46
47
48
32, 351
9 27, 698
15, 727
17, 412
18, 477
19, 842
21, 594
50
105, 725
83,211
82, 787
96, 058
106, 599
118,651
131, 130
113,452
123, 129
135, 955
169, 546
51
3M87
" 2, 925
130
3' 3, 511
3' 5, 262
"84
37 639
37 2, 183
9 3, 037
258
5,500
1,883
7,618
7,178
7,777
7,306
4,144
3,692
7,236
6,799
9,472
9,048
120
16, 592
16, 264
322
52
53
54
1
276
STATISTICS OF INCOME FOR 1941, pART 2
Table 21. — Corporation returns, 1982-1941,^ in aggregate and by industrial groups,^^
for returns with net income and returns with no net income: Number of returns,
gross income, and net income or deficit; also for returns with net income: Income
tax, excess profits taxes, and total tax
[Money figures in thousands of dollars]
Total
number
of re-
turns 2
Returns with net income *
Num-
ber
Gross
income '
Net in-
come *
Income
tax 5
Excess
profits
taxes 8
Total
tax
Returns with no net
income *
Num-
ber
Gross
income ^
Deficit *
ALL INDUSTRIAL GROUPS
508, 636
504, 080
528, 898
533, 631
530, 779
529, 097
520, 501
515,960
516, 783
509, 066
82, 646
109, 786
145, 101
164,231
203, 161
192. 028
169,884
199, 479
220, 977
264, 628
963
366
954
506
755
095
303
187
573 11,
815 18,
I
153, 113
985, 972
275, 197
164, 723
478, 241
634, 837
525, 979
826, 713
203, 224 2,
111,095 3,
285, 576
416, 093
588, 375
710, 156
169, 705
232, 837
853. 578
216, 450
144, 292
744, 568
6,976
7,673
24, 969
21,613
43, 335
5.988
15,806
404, 254
, 423, 334
»285,
423,
596.
735,
1,191,
1, 276.
859,
1, 232,
2, 548,
7, 167,
369, 238
337, 056
324, 703
312,882
275, 696
285, 810
301, 148
256270,138
546 252, 065
902 204,2781
49, 375,
36, 890,
37,910,
36, 494,
27, 514,
32, 977,
39, 927,
26, 977,
22, 830,
15, 113,
775
0.55
299
664
178
981
538
788
422; 2,
0231 1,
796, 687
533, 339
181, 027
468, 774
152, 024
280. 846
853, 098
092, 148
283, 795
778, 553
MINING AND QUARRYING
17, 218
2,868
17, 068
2,982
18, 656
4.460
18, 420
4,527
18, 174
5,146
18, 024
5,083
17, 142
4,470
16,571
4,687
15,886
5,076
14, 704
5,708
537, 578
555, 679
1, 161, 775
1, 331, 854
2, 069, 330
2, 579, 785
.1,546,756
1,684,919
2, 387, 593
3, 104, 973
62. 675
71.
156. 063
162. 936
300. 048
427, 621
210, 354
265, 786
335, 226
485, 056
7,445
7,445
9,178
9.921
280
10, 201
8,866
21, 456
428
21, 884
9,083
22, 400
515
22, 915
9,188
38, 108
504
38, 612
8,642
56, 457
4,402
60, 859
8,484
29, 846
245
30, 091
8, 699
39, 169
382
39, 551
8,238
68, 202
3,956
72,157
7,702
114, 628
40, 954
155, 581
6,380
1, 127, 297
1, 402, 596
1, 375, 939
1, 292, 853
998, 165
1, 000, 672
1, 142, 252
1, 142, 752
826, 678
754, 307
287, 042
248, 127
165, 373
173, 879
124, 146
128, 368
161,041
123, 663
116,286
76, 938
MANUFACTURING— TOTAL
1932
91,849
14, 985
12, 696, 792
757, 501
99, 949
99, 949
72, 931
19, 279, 691
2, 563, 855
19.33
93, 831
26, 3.54
22, 289. 285
1, 460; 632
203, 713
3,649
207, 362
62, 295
12. 861, 490
1,256,586
1934
9 96, 649
34, 023
27,442,910
1, 906, 104
262, 466
3,477
265, 943
» 57.270
» 13,652,662
9 956, 558
1935
96, 213
37, 976
35, 413. 610
2, 482, 773
341,3.55
1.5, 528
356, 883
53, 700
12, 484, 183
666, 326
1936
96, 236
45, 926
48, 373, 998
4, 072, 531
596. 368
11,294
607, 662
46, 104
8, 580. 830
370, 993
1937
96,511
41,974
51, 468, 208
4, 127, 465
629, 895
22, 376
652. 271
50, 005
10, 988, 400
424, 344
1937 ad 53.
96, 727
42, 060
51,631,751
4, 137, 323
631, 467
22, 471
653, 938
50. 124
11,035,853
127, 390
1938
91,8.38
34, 034
34,117,838
2, 421, .385
374. 171
2,360
376, 531
54. 033
17,010.574
831, 871
19.39
89, 347
43, 002
49. 983, 326
3, 948, 328
624. 375
9,701
634, 077
43, 181
8, 310, 698
380, 572
1940
88,651
47, 168| 60, 6.50, 227
5, 631, 949
1, 215, 160
337, 7.35
1, 552, 895
38, 420
6, 330, 090
325, 409
1941
87, 166
58,042| 90,325,812
10, 601, 366
2, 200, 196
2, 745, 652
4, 945, 848
26, 389
3, 106, 401
171,951
MANUFACTURING— FOOD AND KINDRED PRODUCTS'*
1932
14, 968
3,629
4, 430, 704
199, 387
25, 201
25, 201
10,6,53
2, 8.58, 953
207, 211
1933
12, 8.59
4,247
5, 536, 520
264. 606
36, 906
631
37, 537
7,934
1, 748, 880
86, 428
1934
9 13,363
5,374
6, 973. 810
302. 328
41,768
642
42,410
9 7, 151
9 1,373,932
9 81, 499
1935
13, 375
.5,312
7,340,434
317.671
43, 670
1,584
4.5, 254
7, 283
1,988.025
55, 807
1936
13,0.57
6, 233
8, 824, 076
417. .565
58, 766
1,310
00, 076
6, 028
1,560.015
37, 743
1937-
12,976
5, .300
7,276.741
28f), 098
40. 043
7,53
40, 796
(•), 940
3, 602, 288
()3, 804
1938 ad S3
12,043
4, 889
6, 3S2, 979
312, 177
49, XI 4
3,54
.'••O. 168
6,616
3, 604, 877
80, 785
1939 ad M
11,260
5,615
9, 133, 178
427,819
6.H, 664
649
69, 313
5,218
1, 124, 635
35, 079
1940
10,645
5, 315
9, 493, 022
444, 317
93, 794
4,731
98. 525
4, 934
1, 115,514
36. 523
1941
10, 082
6,220
12, 850, 368
660, 150
160, 568
71, 978
232. 546
3,546
665, 683
21, 239
For footnotes, see pp, 293-298.
STATISTICS OF INCOME FOR 1941, PART 2
277
Table 21. — Corporation returns, 1932-1941,^ in aggregate and by industrial groups,^'^
for returns with net income and returns with no net income: Nurnber of returns,
gross income, and net income or deficit; also for returns with net income: Income
tax, excess profits, taxes, and total tax- — Continued
[Money figures in thousands of dollars]
Total
number
of re-
turns 2
Returns with net income *
Returns with no net
income *
Year
Num-
ber
Gross
income ^
Net in-
come *
Income
tax 5
Excess
profits
taxes 6
Total
tax
Num-
ber
Gross
income '
Deficit *
MANUFACTURING— LIQUORS AND BEVERAGES (ALCOHOLIC AND
NONALCOHOLIC) 54
1933
1934
1935
1936
1937
1938
1939
1940
1941
2,969
898
3, 283
1, 368|
3,282
1, 4661
3,333
1, 7671
3,376
1, 633
3,237
1, 506
3,191
1,656
3,142
1,641
3,092
1,908
484, 487
851, 516
1, 107, 301
1,473 579
1, 529, 312
1, 325. 192
1, 443, 683
1, 545, 588
2. 109, 777
73, 363
97, 648
107, 824
176, 013
162, 769
127, 758
1.50, 967
151,993
204, 161
10, 199
397
13, 427
402
14, 826
905
28, 154
649
28, 126
955
21,717
111
25, 598
183
33, 188
2,116
51, 728
19, 890
10, 596
13, 829
1.5,731
28, 803
29, 081
21, 827
25, 781
35, 304
71,618
1,648
1,540
1,481
1,294
1,478
1,509
1,321
1,320
107. 420
207, 905
216. 399
198. 162
292. 424
290, 070
252. 163
287, 871
156, 228
14. 175
15. 723
16, 3.55
13,324
16, 421
18, 262
17, 027
20, 159
10, 954
MANUFACTURING— TOBACCO PRODUCTS
1932
382
19.33
405
1934
405
1935
387
1936
379
1937
370
1938
326
1939
307
1940
296
1941
264
114
122
131
139
153
140
110
116
124
137
978,
837,
1, 023.
1. 077,
1, 188,
1, 264,
1, 251,
1. 296.
1. 394,
1,564,
138. 399
65, 224
96, 296
99, 419
127 968
126, 648
124, 310
129, 169
145, 279
166, 640
19, 061
19. 061
256
8.998
8
9,006
261
13.241
5
13, 246
245
13, 670
44
13, 714
228
18. 363
69
18. 432
211
18, 567
78
IS, 645
213
19, 590
(55)
19, 591
199
21. 148
7
21, 155
181
33. 667
924
34, 591
162
44, 711
18, Oil
62, 722
117
61, 188
105, 158
36, 383
33, 682
27, 440
36, 703
37, 815
28,150
25, 709
19, 193
5,151
14, 893
2,086
1,221
1,198
2,040
1,584
1,187
5,230
1,187
MANUFACTURING— TEXTILE MILL PRODUCTS'
1932
1933
1934
1935
1936
19.37
1938 ad 53
1939 ad «
1940 ad 53
1941 ad 53
14, 637
2, 4671
15 351
5.6641
15, 775
5,682,
15, 656
6. 129:
7,827
3.903'
7,697
3.013^
5,016
1, 797|
4,782
2, 510'
4.591
2,555
4,510
3,508
1,211.516
3, 183. 894
3. 040. 608
3,861,351
3, 596, 772
3, 014, 462
1, 783. 577
3,211,686
3, 513, 743
5, 896, 495
41, 052
203, 733
141, 702
171,425
221. 904
166, 326
82, 113
197, 221
245. 798
592, 584
5,047
5,047
11. 872
28, 010
764
28, 774
9,310
19, 505
291
19. 796
9,741
23, 570
1,034
24. 604
9,254
35, 173
863
36. 036
3.782
26, 186
967
27, 153
4,490
13, 239
201
13.440
3,081
33, 000
1,242
34, 242
2,164
53. 086
7,532
60. 618
1,937
130, 747
125, 914
256, 661
916
2, 672, 436
1, 468, 280
2, 209, 651
2, 045, 223
914, 367
1, 517, 426
1, 430, 385
706, 450
719, 775
170, 077
332, 249
96, 838
124, 914
100, 258
44,055
69, 374
101, 809
38, 257
36. 888
10, 866
MANUFACTURING— CLOTHING AND APPAREL 69
1936
1937
1938 ad 53,
1939 ad f3.
1940 ad 53,
8.203
8,044
8,874
8,664
8,864
3,633
2,790
2,912
3, 799
4,342
1, 759, 667
1, 439, 762
1, 299, 880
1, 793, 228
2, 040, 628
56, 344
8,445
232
8,677
4,455
32, 845
4,975
129
5,104
5,120
31, 558
4.952
73
5, 025
5,850
54, 611
8.805
312
9,117
4,766
62, 967
12, 243
1,108
13, 352
4,412
41,314
31, 065
20, 639
51, 704
3,103
523, 088
809, 937
879, 872
632. 336
579. 806
14, 044
19, 036
31, 458
17, 961
16, 314
8,412
MANUFACTURING— LEATHER AND ITS MANUFACTURES
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
2,331
468!
2,407
973;
2,423
976
2,415
1,090
2,401
1,200
2,386
1,023
2,274
860
2,157
1,080
2,145
1,139
2,103
1, 562 j
371, 438
727, 024
709. 035
935, 624
1, 043, 709
963, 149
755,011
992, 294
1, 039, 166
1, 653, 254
18, 687
47. 586
36.468
47, 766
50, 647
34, 601
25, 847
46, 506
48, 074
94, 632
2,404
2,404
1,816
6,582
167
6,749
1,365
5,018
66
5,084
1,368
6,568
198
6,766
1.258
7, 657
134
7,791
1,144
5,157
100
5,257
1,311
4,087
66
4,153
1.364
7,605
130
7,734
1,050
9, 110
897
10, 007
979
21, 538
10. 656
32, 195
523
469, 593
261, 236
324, 117
228, 436
239, 163
368, 576
371, 135
248, 373
251, 187
124, 363
61, 797
20, 761
17,545
9,009
14, 272
13,564
20, 058
10, 449
10, 330
5,044
For footnotes, see pp. 293-298.
278
STATISTICS OF INCOME FOR 1941, pART 2
Table 21.- — Corporation returns, 1932-1941,^ in aggregate and by industrial groups,^^
for returns with net income and returns with no net income: Number of returns,
gross income, and net income or deficit; also for returns with net income: Income
tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
number
of re-
turns 2
Returns with net income *
Returns with no net
income *
Year
Num-
ber
Gross
income '
Net in-
come *
Income
tax 5
Excess
profits
taxes 6
Total
tax
Num-
ber
Gross
income ^
Deficit <
MANUFACTURING— RUBBER PRODUCTS
1932
1933
1934
1935
1936
1937
1937 ad S3
1938
1939
1940
1941
544
96
572
215
650
267
632
286
618
330
643
320
527
280
557
283
565
326
602
339
548
419
127,
300,
362,
671,
910,
1,012,
972,
782,
1,010,
1,113,
1,678,
2,779
301
1,867
301
1,919
426
330
13, 339
52
14, 976
2,094
20
2,114
340
30,119
4,141
323
4,464
312
54, 771
8,520
119
8,639
259
47, 454
6,241
131
6,372
294
43, 579
5,614
111
5,724
221
26, 325
4,331
49
4,380
257
64, 766
10, 457
113
10, 570
219
72,712
14, 783
1,259
16, 042
247
53, 378
33, 957
30, 684
64, 640
119
507, 935
418, 134
393, 498
116,885
50, 872
94,911
91, 144
75, 899
73, 654
52, 134
16, 748
41,517
10, 000
10, 566
6,989
3,183
3,712
3,502
3,966
1,687
1,997
3,055
MANUFACTURING— FOREST PRODUCTS
1932
1933
1934
1935
1936
1937
1938 ad f3
1939 ad 53
1940 ad 53
1941 ad 53
6,707
541
6,879
1,638
6,855
1,812
6,843
2,384
6,722
3,145
6,730
3,102
7,863
2,681
7,586
3,443
7,333
4,009
7,083
4,934
95,
407,
490,
734,
1,291,
1, 457,
997,
1, 554,
2, 060,
3, 095,
5,271
22, 745
27,210
37, 968
86, 841
93, 569
50, 090
92, 524
148, 435
306, 031
666
666
5,929
3,153
119
3,272
4,882
3,743
63
3,806
4,725
5,221
222
5,443
4,199
12,698
559
13, 257
3,360
13, 599
886
14, 485
3,373
7,708
87
7,795
4,903
14, 787
328
15,115
3,933
30. 883
5,545
36, 427
3,125
67, 145
60, 840
127, 985
1,956
758, 131
586, 815
605, 068
583, 999
456, 523
472, 165
753, 301
562, 302
380, 383
176, 747
212,389
95, 335
76, 708
53. 628
37. 950
25, 640
56. 379
35, 710
29, 140
13, 163
MANUFACTURING— PAPER, PULP, AND PRODUCTS
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
2,097
473
2,164
993
2,318
1,208
2,306
1,296
2,371
1,440
2,327
1,383
2,256
1,107
2,213
1,423
2,220
1.469
2,229
1,892
291,719
709, 716
966, 703
1, 165, 444
1, 437, 416
1, 646, 878
1, 115, 593
1, 545, 985
1,811,688
2, 755, 126
16, 600
2,237
2,237
1,582
52, 356
7,250
169
7,419
1,106
80, 889
11,123
211
11,334
1, 032
92. 321
12,686
266
12, 952
938
123, 346
19, 354
276
19, 630
848
140, 044
22, 731
708
23, 439
867
68, 858
10,917
49
10,966
1,089
120, 417
19, 562
315
19, 877
744
190, 143
42, 546
9,337
51, 884
713
355, 895
75, 453
94, 356
169, 809
311
717, 678
453, 368
347, 752
326, 145
291,362
241, 191
408, 743
224, 672
235, 496
50, 314
81,073
36, 090
28, 418
31,994
15,816
12, 039
24, 933
19, 828
8,872
3,974
MANUFACTURING— PRINTING, PUBLISHING, AND ALLIED INDUSTRIES
1932..
1933...
1934,..
1935-..
1936 ..
1937...
1938...
1939...
1940 ..
1941...
12, 100
2,155
12, 077
2,713
12, 622
4,490
12,912
4, 895
12, 735
5,469
12,667
5,117
11,950
4,234
11,090
4,817
11,793
.5,612
11,448
6, 201
888, 484
977, 340
1,285,357
1,468,211
1,792,311
1,908,531
1, 542, 128
1,778,016
1.939,992
2, 224, 628
58,
71,
117,
140,
188,
183,
125,
157,
178,
214,
804
7,795
^795
9,510
079
9,853
124
9,977
8,886
465
16, 148
201
16, 349
7,618
037
19, 255
463
19,718
7,495
475
27, 370
452
27, 822
6,811
821
26, 872
672
27, 544
7,079
114
18, 570
129
18, 700
7,314
999
23,814
227
24,041
6,511
515
36, 993
2,848
39, 840
5,819
593
52, 293
17, 304
69, 597
4,930
900, 273
673, 352
571,460
559, 876
440, 889
529, 691
653, 0(58
490, 364
470, 740
393, 427
96, 170
57,917
64, 153
45, 978
28, 475
36, 776
42, 731
29, 4,54
30, 325
23, 697
For footnotes, see pp. 293-298.
STATISTICS OF INCOME FOR 1941, PART 2
279
Table 21. — Corporation returns, 1932-1941,^ in aggregate and by industrial groups,^^
for returns with net income and returns with no net income: Number of returns,
gross income, and net income or deficit; also for returns with net incoine: Income
tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
ntimbor
of re-
turns 2
Returns with net income *
Returns with no net
income ^
Year
Num- Gross
ber income '
Net in-
come *
Income
tax 5
Excess
profits
taxes 8
Total
tax
Num-
ber
Gross
income '
Deficit <
MANUFACTURING— CHEMICALS AND ALLIED PRODUCTS s'
1932
1933
1934
1935
1936
1937
1938 ad 53.
1939 ad 63.
1940 ad 53.
1941 ad 53.
7,443
1,741
7,678
2,458
8,220
3,049
7,969
3,156
7,174
3,3031
7,183
3, 107;
6,966
2,732
6,911
3,301
7,046
3,437
6,792
4,167
2, 761, 691
4, 094, 654
3, 322, 986
4, 545, 732
3, 649, 269
3, 882, 702
3, 198, 878
3,985,159
4, 510, 195
6, 182, 326
167,
272,
324,
366,
479,
457,
336,
541,
658,
981,
778
22, 644
22, 644
6,315
909
38, 240
535
38, 775
4,696
031
44, 627
543
45,170
4,559
128
50, 340
929
51,269
4,350
278
64, 079
1,063
65, 142
3,508
119
63, 131
1,013
64, 144
3,676
390
51,323
211
51,535
3,890
314
82, 784
1,372
84, 156
3,349
036
139,157
35, 883
175,040
3,313
722
206, 333
234, 742
441,075
2,344
3, 696,
2,191,
3, 325,
2, 882,
275,
337,
426,
257,
230,
128,
223, 266
189, 213
178, 543
114,331
18, 769
19.062
27, 606
17,457
16, 636
11,475
MANUFACTURING— PETROLEUM AND OTHER MINERAL OIL PRODUCTS 5'
1936
852
357
1937
806
324
1938
765
315
1939
733
350
1940
715
334
1941
665
412
3, 716, 885
4,638,211
2, 459, 321
4,130,839
5, 045, 084
6, 612, 380
224, 627
23,618
53
23, 671
389
300,815
34, 156
795
34, 951
381
146,406
15,003
29
15,031
398
196,590
20, 342
192
20, 553
323
267, 700
44, 751
4,735
49, 486
321
556, 282
113,827
23, 265
137,092
207
888, 562
648, 653
2, 638, 970
1,279,042
639, 277
282, 734
21,110
21,257
88, 121
16, 828
19, 885
6,154
MANUFACTURING— STONE, CLAY, AND GLASS PRODUCTS
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
4,268
424
4,112
642
3,974
997
3,967
1,253
3,970
1,781
4,164
1,684
3,742
1,393
3,626
1,771
3,601
1,940
3,363
2,155
184, 622
428, 580
603, 592
769, 225
1,196,817
1,317,034
937, 385
1, 320, 920
1, 577, 346
2, 213, 476
, 13,
34,
61,
88,
161,
161,
88,
157,
213,
346,
?70
1,760
4,826
1,760
4,912
3,685
3,186
762
86
751
8,491
59
8,550
2,747
695
12, 196
470
12, 606
2,524
516
24, 000
507
24, 507
2,015
524
24, 599
887
25, 486
2,263
915
14.110
117
14, 226
2.208
643
25, 803
357
26, 160
1,752
4,56
47, 294
10, 072
57, 366
1,550
059
76, 297
83, 083
159, 380
1,123
485, 794
290, 009
235, 957
248, 437
183, 925
218,915
284, 139
184, 471
136, 431
87,431
110, 098
55, 635
36, 527
31, 216
16, 607
17, 416
23, 839
11,793
12, 244
8,568
MANUFACTURING— METAL AND ITS PRODUCTS 's
1932
18, 877
1,917
1.031,353
71, 098
9,558
9,558
16, 191
5, 475, 380
1, 054, 566
1933
19, 080
4,291
4, 059, 694
287, 192
40, 565
377
40, 942
13, 849
4, 077, 533
494, 126
1934
20, 353
6, 844
7, 040, 389
535, 147
73. 627
788
74,415
12, 437
3, 588, 045
278,421
1935
19, 856
8,426
10, 652, 872
874, 503
120, 240
8,202
128, 442
10, 702
2, 902, 219
169, 108
1936
19, 772
10, 467
10, 501, 257
1,113,920
171, 654
3,777
175, 431
8.563
2, 068, 625
74, 915
1937
20, 076
10, 491
14, 042, 108
1,381,350
227, 951
12, 870
240, 821
8.775
1, 301, 235
70, 727
1937 ad 53.
20, 743
10, 738
14. 593, 008
1,416,585
233. 956
13, 109
247, 065
9.134
1. 444, 831
80, 327
1938 ad 53.
18, .386
6,809
7, 097, 574
574. 409
92. 248
678
92. 926
10. 857
3, 697, 085
221, 231
1939 ad 53.
18, 261
9, 766
12, 108, 886
1. 097. 876
180. 159
3,571
183, 730
7,885
1, 798, 855
94, 276
1940 ad 53.
18, 086
11,435
17, 397, 773
2. 065, 689
460,715
190, 147
650, 862
6,091
882, 625
54, 646
1941 ad 53.
17, 725
13, 631
29, 198, 425
4, 631, 584
895, 698
1, 578, 007
2, 473, 705
3,587
344, 669
28, 418
MANUFACTURING— MOTOR VEHICLES, COMPLETE OR PARTS
1936
1937
1938 ad 53
1939 ad 53
1940
1941
801
367
869
381
995
357
877
443
851
498
773
546
4. 621, 105
4, 554, 892
2,010,413
3, 432, 565
433, 348
415,814
206, 083
384, 005
4, 678, 158 576, 796
65. 478
696
66, 174
390
65. 130
596
65, 726
426
30, 998
23
31,021
577
60.417
289
60. 706
397
127, 709
51, 077
178, 785
310
169, 868
269, 912
439, 780
193
163,117
197, 903
1, 035, 641
229, 791
118,190
45, 071
11, 654
13,047
60. 499
17,786
9,411
3,494
For footnotes, see pp. 293-298.
280
STATISTICS OF INCOME FOR 1941, PART 2
Table 21. — Corporation returns, 1932-1941,^ in aggregate and by industrial groups,^^
for returns with net income and returns with no net income: Number of returns,
gross income, and net income or deficit; also for returns with net income: Income
tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
number
of re-
turns 2
Returns with net income ^
Returns with no net
income *
Year
Num-
ber
Gross
income '
Net in-
come *
Income
tax 6
Excess
profits
taxes 6
Total
tax
Num-
ber
Gross
income ^
Deficit *
MANUFACTURING— MANUFACTURING NOT ELSEWHERE CLASSIFIED
1932
1933
1934....--
1935
1936
1937
1937 ad 53.
1938 ad 53 .
1939 ad 53.
1940 ad 63.
1941 ad 63.
7, 49.=)
960
7,278
1, 500
6,408
1,825
6,613
2,144
6,021
2,378
6,197
2,166
5,862
2,045
6,588
2,049
6,524
2,586
6,721
2,979
7,288
4,352
323. 322
541.968
772, 573
1, 083, 382
1, 370, 245
1, 519, 612
1,171.708
1,178,727
1, 245, 328
1, 489, 814
2, 548, 660
24, 377
51 736
70, 192
108, 897
155, 907
136, 668
115, 166
95, 035
128, 902
162. 038
331, 792
3,273
3,273
5,696
7,262
220
7,482
4,842
9,653
184
9,837
3,767
14, 973
888
IS, 861
3,676
23, 042
534
23, 576
3,047
22, 435
835
23, 270
3,319
IS, 628
711
19, 340
3.152
15, 563
183
15, 747
3,921
21,431
414
21, 845
3,368
35, 242
9,524
44, 766
3,187
68, 968
86, 371
155, 339
2,430
676, 232
480, 173
433, 320
352. 338
293, 029
319. 029
226, 654
422, 667
217, 562
204, 614
128. 829
138, 367
85, 175
41, 456
30, 433
17, 878
20, 430
14, 086
28,611
15, 793
16,810
12, 252
TRANSPORTATION AND OTHER PUBLIC UTILITIES
1932
1933
1934
1935
1936
1937
1938 ad 63
1939 ad 63
1940 ad 63
1941 ad 63
24. 038
6,700
24, 302
7,429
28. 537
9,808
28. 437
10, 600
27, 486
11, 196
27, 360
10, 856
24,. 522
9, 554
24. 395
10, 857
24. 252
11, 799
24, Oil
13, 301
4, 851, 474
4, 782. 688
5, 895, 192
6, 520, 071
8, 756, 897
9, 034, 200
7, 968, 259
9, 223, 865
10,545,717
14, 287, 334
708, 168
657, 272
919, 298
927, 144
1, 376, 520
1, 503, 021
1, 256, 328
1, 577, 495
1.650,824
2, 143, 636
98, 118
92, 258
98,118; 14,981
92,582 14,349
324
126, 600
329
126, 929| 15,571
127, 580
1, 125
128,705 14,833
172, 671
757
173,428 13,657
194, 430
.3, 749
198 179! 13,816
175, 606
394
]76,000| 12,861
224, 464
1,199
225,6621 11,623
361, 066
14, 541
375,607 10,777
554, 781
170, 534
725, 315 9, 143
6, 387. 532
5, 826. 561
5, 215, 038
5, 064, 703
4, 055, 288
4,415,002
4, 294, 000
3, 972, 017
3, 290, 367
1, 789, 042
839, 051
743,116
642, 896
572, 047
353, 885
410, 004
539, 880
362, 263
283, 362
162, 221
TRADE
1932-
1933
1934
1935
1936
1937
1938 ad S3
1939 ad 63
1940 ad 53
1941 ad 63
135,977
20. 951
137. 858
39, 275
146, 056
52, 823
149, 426
57,813|
149, 805
69, 263;
148, 019
62, 432
140, 367
50, 189
137, 448
62, 381
137, 105
70, 361
134, 901
87, 155
9, 329, 422
14, 976, 095
22, 949. 508
27. 582, 955
34, SIO, 717
35, 0.57. 451
20,812,698
34, 242, 656
39, 670, 278
52, 791. 637
234, 674
435, 820
670, 336
767, 428
1,136,419
1, 064, 765
732, 628
1, 020, 385
1, 257, 497
2, 205, 242
30, 644
30, 644
111, 363
60, 438
1,751
62, 189
93, 621
92, 200
2,077
94, 277
88, 053
105, 495
3,311
108, 806
87, 068
168, 678
4,868
173. 546
76, 257
161,718
6,668
168,386
80, 652
112,087
1.141
113,227
86, 198
162. 137
2,619
164, 756
71,881
260, 579
32, 729
293, 308
63. 668
496, 162
362, 577
858, 739
44, 947
13,804,005 1,
9, 222, 849
10, 001, 452
9, 946, 860
8, 460, 652
10, 379, 209
11, 769, 685
7, 980, 554
6,919,912
4, 246, 567
039, 924
476, 184
349, 162
301, 252
213, 049
230, 798
318, 675
209, 654
178, 545
133, 608
SERVICE— PROFESSIONAL, AMUSEMENTS. HOTELS, ETC.
1932
47, 568 7, 140
910, 255
64, 392
9 8, 396
« 8, 396
36, 142
2, 181, 586
480,481
1933
47, 843 7, 566
868, 980
60, 982
8,478
239
8,717
35.419
1, 952, 228
378, 023
1934
50, 989
11,194
1, 561, 845
107, 807
14. 863
348
15,211
34,718
1,812,431
283. 406
1935
54, 560
13, 3.58
1,803,935
127, 448
17,514
729
, 18, 243
3(), 289
1,903,785
268,518
1936
64, 426
18, 445
2, 545, ,580
232, 104
31, 534
912
32, 446
41, 258
2,103,413
243, 235
1937
65, 272
19, 191
2, 625, 377
225. 726
32, 508
1,638
34, 146
41,017
2,211,927
210, 064
1938 ad 53
48, 1,56
12,711
2, 298, 463
169, 118
24, 961
287
25, 247
31,067
1, 722, 930
117,573
1939 ad 63
49, 034
14,907
2, 522, 806
190.860
28, 685
357
29, 042
30. 068
1,667,302
108, 930
1940 ad 63
51,285
17,496
2, 967, 544
21.5, 990
38, 907
2,2«1
41, 18H
29, 709
1, .502,012
104, 706
1941 ad ".
60, 765
21,431
3, 566, 027
276, 800
62,119
17, 975
80, 094
25, 664
1, .3.53. 161
85, 024
For footnotes, sec pp. 293-298.
STATISTICS OF INCOME FOR 1941, PART 2
281
Table 21. — Corporation returns, 1932-1941,^ in aggregate and by industrial groups,^^
for returns with net income and returns with no net income: Number of returns,
gross income, and net income or deficit; also for returns with net income: Income
tax, excess profits, taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
number
of re-
turns 2
Returns with net ineome *
Returns with no net
income *
Year
Num-
ber
Gross
income ^
Net in-
come *
Income
tax 5
Excess
profits
taxes 6
Total
ta.x
Num
ber
Gross
income ^
Deficit <
FINANCE-
BANKING, INSURANCE, REAL ESTATE, HOLDING COMPANIES, STOCK
AND BOND BROKERS, ETC.
1932
143, 805
26, 395
1933
H2. 942
22, 369
1934
147, 277
27, 257
1935
143, 843
33, 231
1936
132, 715
43, 866
1937
133, 992
43, 581
1938 ad 53.
152,113
49, 976
1939 ad 53.
152, 865
53, 823
1940 ad 53
149, 199
56, 847
1941 ad £3.
148, 500
63, 932
778, 019
725, 266
036,267
638, 747
371,607
000, 402
500, 223
746, 983
190, 076
925, 355
287, 992
36, 576
260, 569
35, 848
504
452, 414
62, 108
742
603, 274
82, 928
2,886
2, 219, 938
142, 556
2,286
2, 143, 795
137, 051
2,735
1,625,847
120, 284
950
1, 097, 124
118, 752
884
1, 938, 757
168, 232
8,102
2, 086, 042
250, 550
37, 505
36, 576
36, 352
62, 850
85, 814
144, 842
139, 786'
121, 233
119,636
176, 334
288, 055
98,725
99, 314
98,839
91, 702
71, 828
73, 498
86, 351
84, 533
80, 865
74, 701
5, 378,
4, 695,
4, 868,
4,864,
2, 405,
2, 952.
2, 913,
2, 863,
3, 092,
3, 212,
896'2,
482 2,
813 1,
478 1,
3461
308!
860'
219'
064 1,
532 1,
335, 500
273, 806
657, 190
381, 593
771, 494
802, 643
790, 206
823, 317
144,612
060, 812
CONSTRUCTION
1932
1933
1934
1935
1936
1937
1937 ad 53.
1938 ad 53.
1939 ad 53.
1940 ad 53.
1941 ad '3.
19, 046
2,115
18, 235
2,140
17, 751
3,353
17, 687
4,242
17, 997
6,202
18, 333
6,103
18, 117
6,017
18, 377
5,290
17, 964
5,836
17,534
6,988
16, 657
8,452
468, 670
374, 434
574, 874
789, 599
1, 309, 003
1, 688, 050
1, 524, 507
1,341,870
1,556,418
2, 000, 904
3, 183, 519
30, 691
3,639
3,639
15,204
23, 638
3.268
173
3,441
14,112
31, 694
4,358
190
4,548
12, 588
49, 260
6,772
710
7,482
11,808
74, 136
11,112
661
11, 773
10, 443
84, 463
13,215
1,402
14,617
10, 761
74, 605
11,644
1,307
12,951
10, 642
73, 296
11, 577
449
12, 026
11, 675
79, 700
12, 293
500
12, 793
10, 861
112,920
21,216
4,271
25, 487
9,388
210, 208
43, 280
42, 258
85, 537
7,117
969, 246
704, 115
681, 905
703, 428
703, 504
773, 852
726, 398
740, 750
809, 823
658, 026
487, 578
141, 060
91,445
66, 482
55, 737
37, 305
36, 890
33, 844
40, 820
41, 228
36, 884
25, 380
AGRICULTURE AND RELATED INDUSTRIES
1932
1933
1934
1935
1936
1937
1938 ad 53.
1939 ad 53.
1940 ad 53.
1941 ad 53.
10, 977
1,153
10, 490
1,443
» 10, 525
1,995
10, 084
2,321
9,860
2, 920
9,565
2,636
10, 702
2,862
10, 158
3,090
10, 397
3,642
9,833
4,431
133, 034
178, 040
296, 513
358, 965
523, 992
531, 954
366, 217
423, 240
489, 253
637, 637
979
675
675
8,615
894
2,102
55
2,157
7,818
572
4,198
80
4,278
9 7, 330
901
6,036
160
6,196
6,734
837
8,655
328
8,983
6,025
320
7,479
3.59
7,838
6,067
820
4,269
143
4,413
6,936
506
5,830
144
5,974
6,365
165
9,507
552
10, 058
6,103
395
19, 223
4,369
23, 592
4,814
235, 120
217, 090
9 238, 513
230, 6,54
201, 757
251,123
243, 447
194, 057
163, 000
124, 966
94, 962
60, 212
« 54, 903
40, 253
32, 707
33, 583
38, 336
30, 225
36, 032
24, 241
NATURE OF BUSINESS NOT GIVEN
1932
18,158
339
1933
11,511
228
1934
12, 458
188
1935
14, 961
163
1936.
14, 080
197
1937
12,021
172
1938
17, 284
798
1939
18, 178
896
1940
22, 474
1,600
1941
22, 529
2,176
2,719
1,899
2,071
1,771
2,630
3,669
115,981
72, 973
75, 981
154, 521
1,041
135
135
2,099
479
67
2
69
1,262
908
125
2
127
1,251
560
77
6
83
1,560
648
84
2
86
1,482
661
85
6
91
1,510
5,202
778
19
797
3,328
5,530
746
18
764
3,388
8,897
1,423
89
1,512
5,433
18, 349
3,629
1,511
5,140
5,123
12, 403
7,643
3,546
3,720
5,222
5,488
90, 040
37, 365
48, 274
38, 470
14,813
5,838
5,058
9,168
5,209
4,152
14, 696
12, 296
57, 959
38, 317
For footnotes see pp. 293-298.
282
STATISTICS OF INCOME FOR 1941, PART 2
Table 22. — Corporation rehirns, 1932-1941,^ in aggregate for the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax
[Money figures in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income *
Num-
ber
Gross in-
come 3
Net in-
come *
Income
tax '
Excess
profits
taxes *
Total
tax
Returns with no net income *
Num-
ber
Gross in-
come 3
Deficit *
UNITED STATES
508, 636
504, 080
528, 898
533, 631
530, 779
529, 097
520, 501
515, 960
516, 783
509, 066
82, 646
109, 786
145, 101
164,231
203, 161
192, 028
169, 884
199, 479
220, 977
264, 628
31,707,9631 2,153,1131 9 285,576' 9 285,576 369,238
46, 752, 366 2, 985, 972[ 416, 0931 6, 976 - 423, 068 337, 056
62,920,954 4,275,197 588,375 7,673 596,048 324,703
77, 441, 506' 5, 164, 723! 710,1561 24,969| 735,125 312,882
104,763,755 9, 478, 24l'l, 169, 765[ 21, 613;1, 191, 378 275, 696
108, 989, 095 9, 634, 837 1, 232, 837 1 43, 335 j 1, 276, 172 285, 810
80, 068, 303 6, 525, 979' 853, 5781 5, 988 859, 566 301, 148
105, 457, 187, 8, 826, 713 1, 216, 450i 15, 806 1, 232, 256 270, 138
124, 977, 573 11, 203, 224 2, 144, 292 404, 254 2, 548, 546 252, 065
174, 976, 815 18, 111, 095 3, 744, 568 3, 423, 334 7, 167, 902 204, 278
■ ill I
49, 375,
36, 890,
37, 910,
36, 494,
27, 514,
32, 977,
39, 927,
26, 977,
22, 830,
15, 113,
775 7,
055 5,
299 4,
664 3,
178 2,
981 2,
538 2,
788 2,
422 2,
023 jl,
796, 687
533, 339
181,027
468, 774
152, 024
280, 846
853, 098
092, 148
283, 795
778, 553
ALABAMA
4,065
607
3,827
916
3,797
1,295
3,725
1,306
3,617
1,618
3,572
1,542
3,470
1,395
3,432
1,612
3,391
1,761
3,323
2,084
50, 683
175, 190
241,750
251, 185
427, 548
463, 431
324, 951
431, 586
572, 032
883, 598
?00
247
1,105
140
84
940
1,504
64
121
1,530
62
291
3,707
225
532
4,462
291
129
2, 581
27
213
3,958
60
682
8,908
1,830
943
20, 349
18, 914
247
2,953
1,189
2,416
1,568
2,098
1,592
2,065
3,932
1,687
4, 753
1,764
2,608
1,822
4, 018
1,593
10, 738
1,435
39, 263
1,045
232, 078
160, 5.38
181,338
215, 737
131, 826
133, 143
180, 626
135, 082
88, 861
45, 074
39, 662
21,503
18, 497
15,781
8, 736
7,557
11,153
8,222
6, 386
3,542
ALASKA
165
42
170
61
203
62
217
80
209
92'
246
106
278
91
274
95
282
109!
278
126
2,949
4,214
4,458
7,914
9,041
10,813
10, 145
10, 437
10, 674
16, 489
261
337
556
836
916
1,257
1,099
1,105
1,325
2,329
24
46
76
115
118
165
166
159
238
533
24
92
52
87
82
115
126
113
131
89
186
98
173
133
164
125
248
125
764
107
2,770
2,762
3,103
3,325
3,156
4,510
5,708
3, 832
4, 146
2,669
637
374
372
390
376
321
456
580
443
413
ARIZONA
1,773
217
1,674
240
1,586
389
1, ,5,55
466
1, 531
554
1,497
563
1,481
520
1,422
512
1,386
564
1,341
669
19, 672
29, 778
66, 782
85, 620
113,531
135, 008
110,660
109,216
127, 921
169, 732
808
106
1,110
153
2
3,279
451
21
4,401
604
38
6,478
824
57
7, 765
1,039
81
6,020
863
12
6, 710
991
14
8,226
1,611
78
11,623
2,749
967
106
1,026
155
934
472
809
642
774
881
676
1,120
680
875
728
1,006
715
1,689
625
3,716
483
52, 256
42, 635
37, 302
41,239
38, 713
43, 276
51,009
49, 469
41,170
35, 094
11,863
11,751
5, 195
5,727
3,044
2,791
3,126
3,607
3, 326
2,201
ARKANSAS
2, 306
499
2, 325
740 1
2, 366
9071
2, 534
1,028
2, 530
1,291
2, .551
1,178
2.581
1,087
2, 479
1,245
2, 554
1,382
2,403
1,533
40, 052
87, 868
133, 632
1,58,696
238, 373
246, 653
207,393
255, 368
294, 496
384, 290
1,901
231
545
231
573
1,679
3, 981
28
1, 460'
6, 002
825
34
859
1,336!
7,101
97f)
47
1,023
1, 324
13,313
1,718
112
1,830
1.051
14,007
1,873
137
2,010
1, 141
1 1 , 903
1,784
23
1 , 807
1,211
14, .V.3
2,213
49
2, 261
1,001
19, 309
3,871
221
4, 092
908'
31,676
7,752
3, 106
10, 857
()87
116,265
82, (•)70
82, 131
89, 846
69, 047
75, 62S
82, 393
56, 240
42,007
30, 476
14, ,579
8, 949
6, 576
5, 684
3, 316
3,471
5, 039
3, 193
2, 933
2, 202
For footnotes, sec pp 29.V:^98.
STATISTICS OF INCOME FOR 1941, PART 2
283
Table 22. — Corporation returns, 1932-1941,^ in aggregate for the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income <
Returns with no net income *
Year
Num-
ber
Gross in-
come 3
Net in-
come 4
^^^ taxes 6
Total
tax
Num-
ber
Gross in-
come 3
Deficit *
CALIFORNIA
1932
24,109' 4,419
1,595,538
139, 578
18,703'.
1
18,703 16,590
2, 221, 271
385, 853
1933
23, 700 5, 264
2, 052, 632
156, 571
21,644,
335
21,979 15,352
1, 709, 344
269, 010
1934
25,106' 7,112
2, 790, 876
228, 691
31,449'
382
31, 831 : 14,675
1, 714, 305
227, 880
1935
25,246' 8,623
3, 584, 160
265, 864
36, 557 1
1,253
37,810; 13,500
1,600,398
170, 684
1936
24,999 10,258
5, 007, 807
507, 369
60, 831
1,284
62, 115
11,851
1, 106, 527
102, 776
1937
25, 120 i 9,705
5,219,431
527, 987
67,383
3,655
71,038
12,280
1,295,450
98, 553
1938
24, 416
8,589
4, 472, 305
398, 170
54,061
362
54, 422
12, 790
1, 419, 994
128, 790
1939
24, 097
9,221
5,075,513
434, 985
61,0841
830
61,913
11,911
1,322,157
97, 551
1940
24, 261
10,111
5, 597, 594
499, 053
96,6111
10,814'
107, 425
11,103
1,251,657
135, 229
1941
23, 606
11,546
8, 163, 134
849, 312
184, 835
154,035
338, 870
9,081
765, 906
99, 810
COLORADO
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
6,952
6,705
6,824
6,660
6,463
6,071
5,609
5,355
5,126
4,820
1,098
1,559
1,854
2,300
2,030
1,737
1,862
1,873
2,161
191, 260
296, 951
385, 308
440, 918
611,121
572, 856
452, 441
527,415
573, 308
667, 364
283
1,775
1,775
4,564
825
3,557
75
3,632
4,251
985
4, 536
103
4,639
3,851
338
5,271
208
5,479
3,601
733
8,044
310
8,354
3,012
590
7,294
292
7,586
3,001
120
5,541
42
5,583
2,948
794
6,982
74
7,056
2,650
056
10,056
475
10, 531
2,556
769
17,885
7,355
25, 239
2,016
322, 205
233, 981
203, 087
204, 970
185,305
231, 672
230, 510
178, 765
154, 780
137, 480
42, 849
33, 471
24, 175
24, 252
19, 263
22, 100
19, 080
15, 751
14,420
15, 575
CONNECTICUT
1932
8,370
1,381
462, 884
35,344
4,752
1
4,752
6,418
905, 173
124, 782
1933
8,521
1,861
663, 841
50, 968
7,069
52
7,121
6,101
754, 143
70, 773
1934
8,948
2,385
962, 925
73,219
10,073
42
10, 115
5,940
711,228
71,179
1935
9,051
2,708
1, 226, 404
90, 438
12,434
190
12,624
5,748
638, 072
56, 061
1936
9,219
3,407
1,626,666
143, 740
19, 635
398
20, 033
5,248
574, 765
47, 405
1937
9,398
3,388
1,854,232
151, 486
21,540
735
22,275!
5,460
584, 708
66, 361
1938
9,292
2,727
1, 140, 490
100, 335
14, 326
71
14,397
5,988
807, 677
80, 829
1939
9,286
3,556
1, 726, 156
149, 057
22, 401
265
22,6661
5,166
510, 868
47, 909
1940
9,348
4,220
2, 229, 643
224, 109
46, 996
20, 341
67, 337
4,565
453, 059
44,185
1941
9,335
5,305
3, 515, 087
491, 587
90, 760
163, 651
254, 411
3,455
448, 472
20,742
DELAWARE
1932
2,054
445
585, 193
40, 697
5,573
5,573
1,341
636, 895
100, 758
1933
2,106
472
530, 692
62, 291
8,688
123
8,811
1,356
658, 344
79, 425
1934
2,5721
706
760. 149
93, 329
12, 882
145
13, 027
1,509
570, 810
48, 572
1935
2,888|
883
872, 425
128, 568
17, 677
588
18, 265
1,628
857,074
77, 547
1936
3,224
1,598
1,463,262
490, 945
36, 908
275
37, 183
1,196
114,951
23,054
1937
3, 177[
1,605
1,664,258
531,088
39, 244
374
39, 618
1,174
134, 477
15,611
1938
3,2C0!
1,434
1,096,411
354, 622
28,443
129
28, 572
1,380
373, 261
25, 492
1939
3,109,
1,553
1,496,931
428,284
38, 584
264
38, 848
1,184
113, 656
12, 415
1940
3,175!
1,617
1,731,456
488, 952
69, 504
19, 638
89, 142
1,216
103, 676
39, 280
1941
3,1101
1,788
2, 201, 526
604, 452
96, 033
108, 788
204, 822
1,016
66, 819
32, 098
DISTRICT OF COLUMBIA
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
2,378
586
2,445
653
2,598
918
2,780
1,158
2,818
1,333
2,847
1,219
2,798
1,152
2,710
1,310
2,679
1,442
2,667
1,662
174,
216,
305,
375,
451,
453,
434,
625,
609,
916,
14, 949
13,914
22, 871
27, 023
46, 287
42, 195
36, 032
46, 468
51,559
2,064
1,948
3,145
3,713
5,817
5,313
4,700
6,008
9,244
92,615 22,414
14
49
120
113
101
36
36
458
5,30;
2,064
1,590
1,962
1,554
3,194
1,428
3,833
1,399
5,930
1,279
5,414
1,403
4,736
1,416
6,044
1,180
9,702
1,056
27,7|l
827
257, 854
211,183
221,222
230, 133
236, 683
247, 764
230, 186
94, 256
198, 812
71, 234
52, 598
29, 876
22, 199
13, 705
7,872
6,892
10, 226
6,700
7,897
5,240
For footnotes, see pp. 293-298.
284
STATISTICS OF INCOME FOR 1941, pART 2
Table 22. — Corporation returns, 1932-1941,^ in aggregate for the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income *
Returns with no net income *
Year
Num-
ber
Gross in-
come 3
Net in-
come*
Income
tax 5
Excess
profits
taxes •
Total
tax
Num-
ber
Gross in-
come'
Deficit <
FLORIDA
1932
9,853
1,204
125, 985
6,481
784
784
6,611
262, 469
58, 22S
1933.
9,263
1,541
186, 016
8,471
1,161
48
1,209
5, 892
207, 694
44, 54(
1934
9,609
2,332
326, 861
16, 458
2,265
81
2,346
5,423
208, 254
35, 26(
1935
9,863
2,651
399, 849
22, 106
3,039
173
3,212
5, 539
227, 302
30, 95i
1936
9,866
3,456
633, 051
40, 840
4,981
278
5,259
4,923
211, 325
24, 10.
1937
9,750
3,203
535, 851
40, 296
4,904
347
5,251
5. 187
263, 185
23, 38>
1938
9,485
3,024
472, 687
33. 542
4,511
107
4,619
5,274
272, 831
27, 04.
1939
9,450
3,403
602, 992
40, 502
5,878
150
6,028
4,909
201. 367
17, 78.
1940
9,487
3,955
741, 952
54, 776
10, 136
949
11,085
4,581
187, 469
19, 19^
1941
9,381
4,255
912, 964
72, 711
16, 285
6,482
22, 767
4,237
179, 485
20, 15<
GEORGIA
1932
5,360
1,032
178, 537
10, 767
1,354
1,354
4,046
326, 905
36, 490
1933
5,556
1,825
406, 807
22, 769
3,115
84
3,199
3,349
202, 500
20, 33C
1934
5,900
2,277
565, 990
3.5, 126
4,830
71
4,901
3,153
228, 405
22,628
1935
5,830
2,381
504, 588
26, 683
3, 669
133
3,802
3.044
299, 471
18, 706
1936
5,721
2,880
860, 409
63, 953
8.490
247
8,737
2,535
191,617
11, 066
1937
5,600
2,626
888, 360
61, 186
8,609
385
8,994
2,722
230, 260
12, 79S
1938
5,473
2.410
748, 363
54, 102
8,197
48
8,245
2,821
217, 266
12, 407
1939
5,423
2,697
887, 304
69, 108
10, 873
140
11,012
2, 495
179, 494
9.835
1940
5,473
2,994
1, 076, 992
85, 692
17,821
1. 698
19, 519
2.258
155. 698
8,79C
1941
5,425
3,460
1, 474, 529
129, 944
30, 847
17, 090
47, 937
1,710
95, 340
6,380
HAWAII
1932
780
304
91, 062
7,674
1,031
1,031
446
105, 213
17, 280
1933
768
329
156, 898
19, 518
2,680
14
2,694
413
50, 812
5,87S
1934
791
371
176, 327
16, 586
2,281
9
2,290
392
40, 655
4,711
1935
798
457
227, 150
31, 236
4,294
56
4,350
313
21, 900
4,207
1936
818
533
261, 764
47, 421
5,535
56
5.591
253
20, 395
2,386
1937
808
533
271, 649
41,319
4,959
140
5,099
250
29, 303
1,95C
1938
801
514
224, 246
23, 762
2, 734
14
2,747
265
79. 244
6,654
1939
809
503
261, 257
28, 604
3,729
12
3,741
283
30, 390
2,027
1940
824
571
336. 213
35, 522
6, 510
832
7,342
230
23. 864
1,541
1941
799
608
390, 023
54, 796
11,844
6,791
18, 636
172
49, 660
1,278
IDAHO
1932
2,350
279
21, 777
1,258
177
177
1,323
58, 949
13, 982
1933
2,295
470
42, 9.57
2,046
280
9
289
1,078
47, 434
6, 4 IS
1934
2,270
593
69, 703
3, 690
502
19
521
966
41, 224
4.7U
1935
2,269
6.53
84, 461
6,435
885
22
907
898
47, 137
3, 40L
1936
2,150
780
122, 589
10, 373
1,323
74
1,397
747
35, 490
7,707
1937
2,160
694
122, 328
12, 202
1,599
181
1,780
791
32, 795
2,94S
1938
2, 069
577
83, 230
7,212
1, 025
13
1,038
804
41,435
3, 13£
1939
1,991
631
103, 836
9,027
1,289
16
1,305
708
36, 284
2,052
1940
1,944
69H
142, 475
13, 565
2, 600
106
2,706
638
18. 970
1,902
1941
1,820
738
174,071
18, 340
4, 486
1,760
6,247
536
17, 979
1, 52C
I
LLINOIS
32,117
32, 266
34, 845
3.5,331
35, 923
36,281
35, 621
35, 409
34, 905
34, 298
4,816
7,259
9,974
11,. 506
14, 708
13,823
12, 162
14,695
16,241
18,910
3, 565, 964
5, 337, 930
7, 446, 960
9,006,517
11,910, 172
11,40.5, .520
8,781,601
11,976,234
13,ii99, 128
19,f 11,.362
131,
220,
368,
461,
793,
780,
488,
700,
921,
, 479.
959
15.713
15,713
24, 144
079
30, 722
579
31,301
21,731
385
50, 791
799
51,. 590
21,099
663
63, 479
2,823
66, 302
20. 120
017
113.741
2, 167
115,908
17, .592
947
117,478
3, 9.36
121,411
1H,607
698
71,702
606
72, 308
19,803
077
10.5, 965
1,482
107,447
17,260
383
187, .529
32, 927
220, 456
15, 579
489
316,296
288, 961
605, 257
12, 298
5, 758, 058
3, 899. 593
3, 608. 633
3, 516, 361
2, 462, 778
4, 029, 226
4,675,510
2,3.59, 192
1,926,709
1, 1.50, 578
For footnotes, sec pp. 293-
STATISTICS OF INCOME FOR 1941, PART 2
285
Table 22. — Corporation returns, 1932-1941,^ in aggregate jar the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income *
Returns with no net income *
Year
Num-
ber
Gross in-
come s
Net in-
come <
Income
tax 5
Excess
profits
taxes «
Total
tax
Num-
ber
Gross in-
come 3
Deficit *
INDIANA
11,649
1,963
11,773
2,797
12, 275
3,646
12.515
4,397
12,551
6,487
12, 612
5.163
12, 781
4,466
11,668
5,354
12,474
5.851
12, 038
6,845
292, 504
5/1,914
894, 540
1, 159, 218
1, 670, 192
1, 654, 860
1, 129, 037
1, 666, 662
1, 930, 168
2,835,118
23, 414
3,108
3,108
8,322
36, 804
5,082
182
5,264
7,423
60, 116
8,275
210
8,485
6,965
82, 779
11,382
720
12, 102
6,431
128. 287
18. 890
638
19, 528
5.442
121, 146
18, 613
685
19, 298
5,745
75, 679
11,668
134
11, 802
6,390
117,924
18, 661
341
19, 002
4.809
158, 165
32, 004
6,938
38, 942
4.902
292, 884
65,023
59, 914
124, 937
3,710
702, 416
480, 611
507, 688
464, 908
334, 468
505, 593
649, 495
327, 864
354, 578
189, 291
120, 254
71. 161
61, 681
42, 073
26, 926
30, 332
45, 022
35, 043
27, 020
21, 736
IOWA
9,131
1,377
9,011
1,987
8,990
2,654
8,736
2,944
8,227
3,551
7.910
3,255
7,614
3,241
7,378
3,501
7,228
3,658
6,979
4,001
286, 327
415, 557
605, 840
733, 915
959, 929
777, 572
799, 984
942, 886
1, 053, 243
1, 365. 663
?39
1,503
2,584
1,503
2,634
5,867
5,060
543
50
254
3,768
73
3,841
4.409
631
4,760
212
4,972
4,054
225
6,852
169
7,021
3,215
426
6.663
324
6,987
3,359
544
6,182
1C9
6.291
3,228
417
8.191
139
8,330
2,871
593
10, 735
620
11,355
2,667
447
19. 280
7,467
26, 747
2,163
380, 172
253, 415
232, 770
258, 798
lh9. 675
383, 807
277, 291
204, 580
181, 804
132, 316
56, 170
37, 714
26, 938
23, 890
18, 646
21, 401
21, 371
21, 938
22, 877
16,048
KANSAS
4,997
1,064
4,833
1,175
4,955
1,674
4,841
1,832
4,637
2,312
4,561
2,057
4,450
1,998
4,359
2,070
4,247
2,214
4,116
2,539
288, 764
205, 823
493, 750
491, 601
678, 084
595, 947
508. 457
569, 946
602, 447
996, 236
.308
1,819
1,819
3,453
203
1,131
33
1,164
3,131
990
2,772
49
2,821
2,829
360
2,811
89
2,900
2,663
6/4
5,541
114
5,655
2,042
769
3,996
168
4,164
2,224
547
3,292
36
3,328
2,204
656
3,969
49
4,018
2,055
291
7,800
487
8,287
1,796
769
22, 715
6,281
28,996
1,350
239, 684
294, 673
218, 757
252, 944
216, 199
328, 728
264, 395
214, 718
216, 470
75, 438
32, 539
21, 944
20, 256
22, 379
12,113
10, 462
10, 726
10, 997
9,703
5,601
KENTUCKY
5,193
1,079
5,103
1,439
5,299
1,892
5,252
2,120
5,158
2,547
4,961
2,346
4,882
2,103
4,870
2,362
4,778
2.466
4,654
2,899
221, 566
349, 713
676, 013
736, 180
947. 637
907, 035
757, 379
904, 800
1,006,011
1, 396, 731
14, 468
1,873
1,873
3,586
23. 933
3,316
110
3,426
3,141
43. 978
6,047
100
6,147
2,896
46, 686
6,419
173
6,592
2,661
67, 875
10, 260
297
10, 567
2,216
66, 820
8,409
401
8,810
2,282
46, 551
6.889
72
6,961
2,448
65, 183
10, 223
136
10, 359
2,170
73, 280
15, 482
1,353
16, 835
1,994
132. 979
32, 422
16, 793
49. 214
1,478
327, 661
245, 309
267, 830
187, 697
137, 846
193, 395
212, 806
165. 292
173,011
39, 228
29, 766
24, 001
19, 178
13, 342
11, 196
16, 334
10, 511
9,661
6.365
LOUISIANA
6,675
1,197
6,606
1,602
6,995
2,012
6,860
2.325
6,541
2,806
6,382
2,689
6,212
2,552
6,119
2,751
6,092
2.796
6,901
3,263
243, 716
384, 501
527, 452
626, 077
898, 472
859, 373
734, 946
748, 162
852, 278
1, 206, 366
14, 929
1,765
1,765
4,681
21, 130
2,963
83
3,045
4,315
31, 487
4,357
68
4,425
4,144
36, 823
4,923
313
5, 2S6
3,784
62, 750
8,047
300
8,347
3,113
67, 880
9,197
45^
9,653
3,098
61, 762
6,999
89
7,088
3,094
52, 287
7,560
127
7,688
2,834
63, 4C0
12, 294
1.2SS
13, 582
2,748
116, 735
25, 848
12, 596
38, 445
2,178
399, 762
237, 503
262, 124
279, 803
182, 928
226, 259
239, 658
263, 414
202, 536
102, 478
54, 925
48, 511
30, 665
46. 267
21, 666
13, 689
24, 135
14, 495
12, 927
9,499
For footnotes, see pp. 293-298.
589783 — 44 19
286
STATISTICS OF INCOME FOR 1941, PART 2
Table 22. — Corporation returns, 1982-1941^ in aggregate for the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income *
Returns with no net income <
Year
Num-
ber
Gross in-
come 3
Net in-
come ^
Income
tax«
Excess
profits
taxes 6
Total
tax
Num-
ber
Gross in-
come 3
Deficit <
MAINE
3,771
713
3,771
854
3,897
1,087
3,912
1,111
3,810
1,358
3,787
1,312
3,697
1,106
3,645
1,335
3,568
1,426
3,570
1,779
107, 009
153, 431
191, 809
219, 382
297, 612
312, 183
222, 023
320, 055
399, 912
613, 968
7,924
1,084
1,084
2,614
10, 119
1,380
22
1,402
2,454
12, 638
1,743
27
1,770
2,313
13,410
1,843
67
1,910
2,336
22, 357
2,753
75
2,828
2,038
24, 495
3,166
70
3,236
2,040
18, 131
2,527
35
2,562
2,214
25, 826
3,741
103
3,844
1,936
30, 054
5,857
471
6,328
1,806
59, 313
13, 950
6,167
20, 116
1,459
238, 515|
189, 082|
181, 155
178, 297
180, 114
202, 944
194, 401
153, 793
135, 433
76,901
MARYLAND
6,156
1,300
6,313
1,653
6,740
2,187
6,776
2,324
6,326
2,653
6,212
2,519
6,102
2,340
6,080
2,700
6,095
2,957
6,032
3,357
1, 169, 378
1, 260, 465
687, 119
793, 415
1, 327, 578
1, 134, 486
851, 509
1, 118, 453
1,221,715
1, 977, 432
56, 117
7,712
7,712
4,102
55, 447
7,659
80
7,739
3,836
55, 948
7,581
143
7,724
3,735
55, 806
7,608
201
7,809
3,663
124, 717
14,274
250
14, 524
2,971
122, 519
15, 089
455
15, 544
2,975
93,811
11, 527
98
11, 625
3,086
117, 498
14, 175
195
14, 370
2,745
126, 154
22, 486
4,051
26, 537
2,544
208, 602
43, 457
26, 855
70, 312
2,056
703, 194
577, 569
593, 365
600, 357
265, 758
532, 737
522, 391
420, 466
466, 167
145, 263
MASSACHUSETTS
20,016
3,476
19, 972
5,174
21, 206
6,188
21, 699
7,027
22, 047
8,756
22, 548
8,034
22, 704
7,198
23, 116
9,185
23, 652
10, 284
23,973
13, 577
1, 616, 236
2, 492, 028
2, 557, 615
3, 298, 510
4, 327, 695
4, 060, 493
3, 245, 803
4, 398, 385
4, 933, 870
7, 470, 577
106, 655
177, 754
177, 365
223, 173
350, 995
290, 559
213, 237
311,012
367, 955
675, 476
14, 217
14, 217
15, 396
24, 779
451
25, 230
13, 720
24,388
216
24, 604
13, 622
30, 686
1,124
31, 810
13,321
43, 101
837
43, 938
11, 957
37, 265
1,250
38, 515
13, 191
27, 695
256
27, 951
14, 236
43, 291
714
44, 005
12, 763
71, 220
14, 321
85, 540
12, 250
142, 795
123,470
266, 266
9,434
2, 231, 981
1, 616, 687
1, 872, 967
1, 650, 133
1, 356, 513
1, 852, 242
1, 862, 458
1, 328, 435
1, 268, 813
819, 249
MICHIGAN
14, 951
2,063
14, 798
3,141
15, 582
4,742
16, 166
5,946
16, 202
7,347
16, 424
6,860
15,917
5,210
15, 883
6,752
15, 667
7,728
15, 035
8,832
703, 521
2,391,165
4, 918, 522
7,115,810
8, 508, 399
8, 420, 984
4, 705, 052
6, 908, 658
9, 017, 900
12, 278, 185
54, (
176,
282,
456, i
720,'
680,;
370, (
609,:
871,:
1, 325, !
022
7,219
7,219
11, 247
627
25, 110
184
25, 294
9,947
582
38, 862
325
39, 187
9,103
526
62, 772
6,143
68, 915
8,370
735
107, 357
1,801
109, 158
7,131
228
105, 248
1,984
107, 232
7,717
627
56, 556
160
56, 716
8,901
127
94, 979
601
95, 580
7,389
227
188, 896
61, 994
250, 890
6, 390
949
273, 327
356, 670
629, 998
4,834
2, 224, 772
1, 306, 356
950, 968
719, 647
774, 621
875, 543
1, 745, 221
762, 237
625, 103
390, 415
MINNESOTA
11,196
2,030
10, 792
2, 373
11,298
3,185
11,214
3, 683
11, 133
4, 520
10, 037
4,114
10, 379
3, 674
10, 151
4, 086
9, 937
4, 503
9,664
5, 002
652, 128
995, 647
r, 326, 095
1,589,448
2, 090, 451
1,820,448
1, 629, 951
1,864,418
2, 090, 32H
2, 802, 242
31,115
4, 166
4, 166
7, 513
44, 779
6,284
77
6, 301
6,855
59, 810
8,236
151
8,387
6,414
68, 070
9,358
310
9, 668
5,847
12,3,540
14, 824
417
15,241
4, 937
105, 687
14, 568
607
15, 175
4, 960
79, 568
11,107
128
11,235
5, 109
111,853
16, 336
107
16, 502
4, 584
133,041
25, 730
2, 445
28, 175
4,069
204, 527
47,410
23,419
70, 829
3, 364
867, 046
651, 229
676, 997
608, 656
600, 172
754, 943
594, 360
514, 862
453, 644
257, 912
For footnotes, sec pp. 293-298.
STATISTICS OF INCX)ME FOR 1941, PART 2
287
Table 22. — Corporation returns, 1932-1941,^ in aggregate for the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income *
Returns with no net income »
Year
Num-
ber
Gross in-
come 3
Net in-
come*
Income
tax 5
Excess
profits
taxes «
Total
tax
Num-
ber
Gross in-
come 3
Deficit <
MISSISSIPPI
2,446
2,337
2,326
2,374
2,372
2,429
2, 433
2, .'509
2,518
2,425
367
644
835
910
1,196
1, 125
1.021
1,212
1,215
1,421
25, 779
71, 080
119, 709
132, 141
224, 101
212, 661
166, 799
214, 732
250, 863
360, 929
133
391
639
827
1,656
1, 695
1,347
1,699
2,556
5,545
12
23
42
198
144
27
44
183
2,805
133
1,778
403
1,461
662
1,325
869
1,299
1,854
1,013
1,839
1,112
1,374
1,221
1, 743
1,082
2,739
1,105
8, 350
849
106, 816
77, 530
81, 179
88. 206
58. 018
70, 226
84,564
68,552
64,264
32, 802
16, Ci48
10, 731
8,811
7,802
4.918
5,343
5,437
4,596
4.496
3,538
MISSOURI
16, 373
3,140
15, 594
4.014
15, 835
4,879
15, 906
5,305
15, 467
6,486
15, 157
5,884
14, 790
5, 564
14, 515
6,372
14, 300
6,645
14, 020
7,816
986, 399
1, 478, 323
2,018,558
2, 084, 450
2, 884, 109
2, 878, 862
2, 577, 004
3, 040, 314
3,315,890,
4, 689, 927 1
78, 524
100, 036
142,891
134, 044
222, 864
217, 784
192,215
240, 432
263, 294
417, 057
10, 554
13. 796
19. 661
18, 431
30, 908
32, 336
29, 021
37, 655
55, 292
94,310
186
256
402
811
1,270
222
404
4,824
61, 200
10,554
13, 982
19,917
18, 833
31,719
33, 606
29, 243
38, 059
60,116
155, 509
11,243
9,769
9,151
8,768
7,356
7, 668
7, 70S
6, 735
6,359
4,954
1,365,961
976, 015
939, 236
1, 134, 084
945, 625
1, 195. 824
1, 139, 320
791, 661
709, 596
360, 868
184. 323
151,477
132, 843
126, 280
70, 446
94, 791
100, 015
69, 610
62, 768
30, 207
MONTANA
3, 044
529
2,933
630
2,967
937
2,978
1, 053
2.822
1,048
2,692
939
2, 679
923
2,552
1,022
2,502
1,117
2,374
1,167
33, 989
50, 459
116, 143
159, 290
164, 962
150, 954
136, 800
167, 368
191, 123
216, 732
1,048
2,036
5, 520
8,622
10, 609
8, 745
9,077
11,661
14, 601
18, 667
121
279
759
1.186
1,485
1,211
1,320
1,747
2,898
4,728
28
54
61
43
24
31
131
942
121
2,153
286
1,938
787
1,647
1,240
1,524
1,546
1,428
1, 2.54
1,423
1, 343
1, 367
1,778
1, 190
3,029
1, 0.53
5,670
942
71,612
59, 639
46, 340
50, 810
50, 960
69, 663
58, 167
42, 063
37, 096
30, 275
NEBRASKA
11, 790
7, 595
8,047
5, 632
4.454
4.899
4,696
3.114
3,103
3,515
4,694
958
4,473
1,180
4,611
1,379
4,494
1,613
4,394
1,940
4,511
1,626
4,342
1,562
4,266
1,766
4,162
1,905
4,052
2,208
133, 907
216, 265
342, 666
334, 669
473, 178
432, 455
369, 558
432, 223
488, 728
659, 596
7,138
9,813
19, 905
15, 994
32, 674
27, 368
26, 660
29, 724
36, 503
49, 740
1,360
2,737
2,198
4,624
3,919
4,019
4,541
7,381
11, 946
18
54
71
126
106
35
33
374
5,469
948
3,308
236, 421
27. 803
1,378
2,844
168, 021
21, 783
2,791
2,784
136, 803
17,823
2,269
2,459
152, 093
12. 950
4,750
2,074
119.615
10. 756
4,025
2,319
163, 445
11,815
4,054
2,298
163, 454
12, 777
4,574
2,007
129, 584
15. 195
7,755
1,792
107, 736
14, 392
17,415
1,426
87, 379
15. ,516
NEVADA
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
938
108
888
106
956
195
968
227
929
299
940
275
881
259
904
280
909
302
897
356
254, 427
246, 211
133, 357
176, 435
222, 917
184, 033
251, 150
265, 000
271, 903
332, 962
6,46;
6,727
3, 403
3,213
11, 789
8,574
8,672
12, 644
14, 543
12, 754
896
9,53
13
468
18
442
17
994
45
767
18
882
5
1,289
12
2,387
177
2,784
826
966
486
459
1,039
785
887
1,300
2,565
3,609
542
2fi, 225
6,021
502
26, 832
15, 992
493
33, 599
4,656
4V4
24, 710
2, 0-39
397
16, 426
1,953
415
95, 537
2,007
394
13, 528
2,187
406
11,127
1,686
399
14, 677
1.895
346
10, 958
1,704
For footnotes, see pp. 293-298.
288
STATISTICS OF INCOME FOR 1941, PART 2
Table 22. — Corporation returns, 1932-1941,^ in aggregate for the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for returns
with net income: Income tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income *
Returns with no net income *
Year
Num-
ber
Gross in-
come 3
Net in-
come*
Income
tax 6
Excess
profits
taxes *
Total
tax
Num-
ber
Gross in-
come 3
Deficit *
NEW HAMPSHIRE
1932
1933
1,333
329
47, 479
2,151
277
277
934
72, 788
10, 577
1,412
400
75, 778
5,005
689
13
702
943
67, 653
7,488
1934
1,472
509
105, 102
7,760
1,066
8
1,074
865
73, 149
6,141
1935
1,464
623
112,329
7,074
973
28
1,001
879
70, 422
5,246
1936
1.447
624
159, 062
10. 716
1,489
49
1,538
777
66, 089
6,009
1937-....-
1,429
624
179, 042
13, 407
1,813
97
1,910
759
57, 262
2,614
1938
1,485
559
142, 432
9,579
1,384
16
1,401
869
65, 345
4,380
1939
1,484
647
180, 744
12. 707
1,885
25
1,910
782
57, 331
3,480
1940
1,479
706
200, 813
13, 646
2,776
358
3,135
722
S3, 576
3,132
1941
1,492
869
302, 578
25, 766
5,759
4,387
10, 147
683
37,424
2,517
NEW JERSEY
23, 278
3,128
23, 902
3,599
25, 383
4,747
26. 354
5,670
26,647
7,138
27, 481
7,091
27, 587
6,505
27, 820
7,925
28, 430
9,355
29,086
12, 632
996, 615
1, 236, 745
1, 785, 940
2,011,271
2, 730, 652
2. 831, 569
2, 359, 129
3, 024, 892
3, 617, 332
6, 245, 304
106, 566
125.456
167, 161
180, 725
373, 429
354, 245
269, 959
342, 294
411,971
620, 782
14,037
17, 395
164
23, 036
135
24, 868
374
41,536
405
37, 136
823
30, 069
209
41, 261
675
70, 192
13,875
117, 365
127, 465
14,037
17, 549
23, 171
25, 242'
41,941
37, 959
30, 278
41,936
84, 067 1
244, 830
17, 955
17, 972
18, 104
18, 286
17, 356
18. 186
18, 880
17, 723
17,036
14, 522
1, 776, 135
1, 551, 898
1, 393. 616
1. 504, 629
1,348,464
1, 425, 500
1, 477, 643
1, 174, 987
1, 121, 507
924,264
359, 855
315, 246
194, 846
175, 382
125, 619
127, 45S
135, 080
125, 570
183,071
89, 514
NEW MEXICO
1,197
188
1,132
241
1,181
347
1,133
387
1,079
466
1,032
462
1,003
406
997
446
962
455
935
604
12, 157
24, 325
41, 407
46, 644
67, 376
73, 559
53, 003
64, 080
71,343
81, 523
412
1,117
2,059
2,151
4,217
4,075
2,876
3,747
4,265
5,!
47
154
283
296
506
633
373
624
733
1,345
6
14
17
36
43
11
9
40
306
47
738
160
656
297
596
313
532
642
450
576
429
384
463
533
422
773
401
1,651
326
32, 497
20, 541
20, 127
19,112
14,212
18, 637
24,613
18, 848
16, 657
12, 393
4,635
3,429
2,669
1,840
1,472
1,314
2,084
1,663
1,133
1,134
NEW YORK
109, 931
110,4.36
118,941
120, 619
120,983
121,825
121,276
122, 070
123,835
123,801
16, 699
18, 922
24,318;
27, 180|
34, 546
33,341
30,615
36, 994
42,048
53, 703
9, 660, 469
13, 241, 667
16, 088, 093
19, 634, 755
25, 140, 082
27, 611,. 5.32
21, 052, '.;'.I4
27, 096, 297
32, 767, 749
43, 996, 913
700, 156
831, 980
1, 191, 532
1,447,030
2,690,816
2,844,046
1,978,623
2, 636, 806
3,217,376
4, 909, 081
94, 739
116, 743
164, 073
199, 007
291. 695
324, 156
234, 371
320, 448
567, 096
961, 092
1,578
1,720
3,881
2. 910
8,886
1,206
3,227
84, 931
788, 077
94, 739
118, 321
165, 793
202. 888
294, 505
333,042
235, 676
323, 675
652, 026
1, 749, 169
85, 234
81,811
83, 689
82, 871
76, 875
79, 794
82, 467
77, 268
74, 367
63, 829
14, 191,
10, 691,
11,552,
10, 925,
8, 762,
9, 363,
11, 158,
8, 362,
6, 660,
4, 991,
185, 749
672, 403
236. 092
994, 641
591,439
648. 626
770, 736
607, 750
636, 416
670, 089
NORTH CAROLINA
6,802
1,080
5, 835
2,049
5,900
2,576
6,019
2,780
6, 027
3,202
6,020
3,145
6,128
2,863
6,210
3,342
6,241
3,626
6,238
4,2/6
464,287
690, 654
849, 384
941, 677
1,295,732
1,337,685
1,096,477
1, 429, 034
1, 568, 339
2, 189, 018
62,687
8,666
8,665
4,241
64, 459
7,482
164
7,636
3,206
65, 666
9,015
110
9,125
2,920
70, 243
9,657
169
9,816
2,874
103, 821
16, 069
233
15, 302
2,515
105, 666
15, 493
446
15, 938
2,578
83, 732
13, 304
74
13, 377
2, 962
114,397
18, 319
224
18, 543
2, 51)1
131,229
27, 799
2,425
30, 224
2,348
220, 594
62,681
28,741
81,423
1, 733
345. 791
215, 406
272, 761
306, 982
173,374
214, 546
308, 484
168, 678
167,070
85, 627
'51, 134
22,367
26,202
22, 114
8,464
9,785
15. 178
8,827
9,438
6,679
For footnotes, see pp. 293-298.
STATISTICS OF INCOME FOR 1941, PART 2
289
Table 22. — Corporation returns, 1982-1941,^ in aggregate for the United States'and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income *
Returns with no net income *
Year
Num-
ber
Gross in-
come 3
Net in-
come <
Income
tax»
Excess
profits
taxes'
Total
tax
Num-
ber
Gross in-
come 3
Deficit <
NORTH DAKOTA
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
3,239
487
2,938
649
2,885
785
2,752
726
2,603
743
2,439
630
2,370
674
2,235
827
2,193
932
1,986
1,014
26, 754
47, 845
66, 952
67, 840
70, 133
73, 659
61, 830
76, 956
86,279
827
102
102
1,910
1,267
174
4
178
1.585
2,083
286
12
298
1,454
2,236
308
24
332
1,463
2,680
335
14
349
1,356
2,442
317
20
337
1,334
2,116
283
4
287
1,200
2,614
347
7
354
1,018
3,447
574
51
625
896
5.436
1,147
326
1,473
678
52, 553
38, 306
34, 305
41, 558
36. 035
42, 908
39,110
32, 082
26, 364
21, 139
6,596
4,419
4,335
3,047
2,659
2,250
1,948
1,683
1,711
1,447
OHIO
1932
24, 919
3,969
1, 746, 586
114,481
15, 124
15,124
19, 399
2, 727, 030
478, 598
1933
24, 823
5,859
2, 559, 005
175,811
24, 323
428
24, 751
17,287
2, 200, 416
348, 579
1934
26, 151
8,471
3,812,172
259, 674
35, 804
525
36, 329
16, 067
2, 179, 222
200, 337
1935
26, 664
9,963
4, 991, 567
324, 748
44, 650
1,518
46, 168
14, 973
1,842,111
151, 732
1936
26, 640
12, 603
7, 267, 936
585, 888
81,481
1,411
82, 892
12, 478
1, 239, 192
94, 231
1937
26, 483
11,790
7, 822, 207
601, 644
85,208
3,444
88, 652
13, 132
1, 646, 586
93, 513
1938
25, 551
9,447
4, 950, 475
317, 357
47, 698
342
48, 040
14, 656
2, 163, 600
152, 682
1939
24, 904
11, 621
7, 126, 184
655, 217
85, 885
1,395
87,280
11,940
1, 258, 897
93,200
1940
24, 758
12, 939
8, 396, 616
750, 664
159, 548
39, 411
198, 959
10, 489
1, 186, 165
80, 636
1941
24, 267
15, 180
12, 482, 042
1, 332, 522
272, 957
351, 537
624, 494
7,839
592, 063
124,084
OKLAHOMA
1932
1933
1934
1935
1936
1937.
1938
1939
1940.
1941.
6,092
1,030
5,975
1,396
6,060
1,834
6,073
2,063
5,701
2,318
5,591
2,234
5,363
1,991
5,424
2,019
5.308
2,203
4,909
2,463
166, 747
254, 399
474, 389
745, 883
1, 143, 638
1, 215, 198
747, 398
852, 127
940, 164
1, 399, 325
20,
27,
49,
61,
81,
98,
62,
62,
74,
116,
218
2,611
2,611
4,369
059
3,716
125
3,841
3,892
076
6,747
139
6,886
3,563
861
8,506
330
8,836
3,375
217
10, 855
158
11,013
2,875
VU6
13, 441
498
13, 939
2,824
850
9,219
42
9,261
2,876
955
9,233
73
9,306
2,830
V16
15, 214
544
15, 758
2,614
695
29,973
6,637
36, 610
2,056
500, 309
492, 528
641, 305
500, 882
272, 346
318, 242
500, 539
427, 294
370, 742
128, 803
OREGON
83, 668
62, 469
47, 637
39, 216
31, 908
24, 922
31, 732
21, 966
24. 221
18,267
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
6,446
779
6,247
1,058
6,093
1,427
5,813
1,702
5, 635
2,023
5,396
1,848
5,112
1,532
4,878
1,773
4,725
1,954
4,547
2,302
83, 397
177, 766
242, 517
327, 687
469, 177
435, 038
340, 711
422, 188
527, 793
802, 412
055
371
371
4,336
448
757
17
774
3,861
235
1,269
24
1,293
3,481
830
1,901
95
1,996
3,208
911
3,520
154
3,674
2,813
550
3,290
200
3,490
2,779
899
2,470
27
2,497
2,802
982
3,310
72
3,382
2,415
982
7,052
1,339
8,391
2,154
642
14, 758
13, 088
27, 846
1,675
280, 190
205, 485
226, 652
212, 128
180, 964
222, 574
211,087
185, 955
141, 153
77, 000
51, 924
37, 095
23,080
22,138
13, 461
14, 559
16, 787
14,586
12,384
7,806
PENNSYLVANIA
1932
26, 800
26, 665
4,546
6,107
2, 072, 786
164, 050
21, 983
31, 554
21,983
32,120
19, 143
17, 462
4, 092, 190
3, 259, 577
567, 085
1933
3, 028, 214
225, 937
566
409, 019
1934
28,646
8,104
4, 322, 117
330, 524
45, 409
481
45, 890
17, 255
3, 570, 752
319,758
1935
28,284
8,949
4,971,903
349, 627
48, 072
1,159
49, 231
16,416
3, 519, 121
248, 056
1936
27,829
10, 824
7, 605, 936
674, 798
82, 484
1,349
83, 833
14,230
2, 415, 908
158, 157
1937
27, 087
10, 154
9, 052, 583
715, 560
93, 396
3,894
97,290
14, 050
2, 203, 165
168, 972
1938
25, 843
7,849
5, 146, 512
429, 682
57, 077
350
57, 427
15, 324
3, 720, 160
226, 674
•1939
25, 094
9,869
8, 330, 291
692, 260
94, 234
1,602
95, 836
12, 809
1, 918, 232
149, 259
1940
24, 522
10, 853
10, 400, 635
924, 601
180, 664
41, 867
222, 531
11,499
1, 460, 130
150,812
1941
23, 987
13, 168
14, 669, 176
1, 530, 575
312, 957
347, 262
660, 219
8,805
976, 480
110,110
For footnotes, see pp. 293-298.
290
STATISTICS OF INCOME FOR 1941, PART 2
Table 22. — Corporation returns, 1932-1941,^ in aggregate for the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax — Continued
[Money figures in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income *
Returns with no net income *
Year
Num-
ber
Gross in-
come'
Net in-
come*
Income
tax«
Excess
profits
taxes'
Total
tax
Num-
ber
Gross in-
come 3
Deficit*
RHODE ISLAND
1932
1933
1934
1935
1936
1937.
1938.
1939
1940.
1941.
3,134
662
3,272
846
3,604
947
3,577
1,071
3,591
1,310
3,498
1,164
3,514
988
3,479
1.326
3,505
1,464
3,425
1,911
127, 045
9,290
1,147
1,147
2,327
314, 510
22, 401
3.093
55
3,148
2,143
293, 303
20, 307
2,792
35
2.827
2,249
411,535
25, 398
3,492
84
3,576
2,197
656, 921
40, 184
5,508
168
5,666
1,994
619, 630
42, 474
5,887
442
6,329
2,063
347, 068
24, 290
3,294
37
3,331
2,229
689. 752
45, 698
6,668
260
6,928
1,876
702, 519
69, 709
11,994
4,363
16, 358
1,768
, 166, 625
125, 137
26, 200
28, 097
54, 298
1,278
347, 445
217, 066
312, 196
270, 891
229, 036
273, 262
318, 293
202, 266
162, 624
72, 966
62, 012
37, 079
36. 952
36, 755
9,481
12. 365
17, 986
9,336
9,401
6,345
SOUTH CAROLINA
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
3,404
511
3,245
1,078
3,322
1,334
3,447
1,394
3,557
1,689
3,413
1,553
3,349
1,386
3, 406
1,677
3,434
1,800
3.397
2,009
82, 521
224, 948
263, 916
275, 669
414, 756
430, 311
299, 399
433, 662
629, 147
792, 090
3,448
433
2,130
433
2,200
2,611
1,871
16, 727
70
14. 109
1,940
26
1,966
1,704
11, 774
1,619
41
1,660
1,794
22, 920
3,643
166
3,709
1,568
26, 461
4.597
369
4,966
1,614
13, 684
2,101
31
2, 133
1,731
23, 107
3,692
49
3,741
1,491
33, 524
6,780
667
7,447
1,404
86, 123
18, 551
20, 622
39, 173
1,150
153, 147
91, 936
111,4.66
134, 764
86, 290
119,821
147, 691
95, 067
71,073
44, 710
20,668
14,064
9,154
7,408
6,292
6,872
8,244
4,212
5,509
2,455
SOUTH DAKOTA
1932
1933
1934._--..
1935.
1936
1937
1938
1939
1940
1941
3,023
473
2,876
509
2,811
692
2,699
755
2, 515
810
2,348
653
2,208
712
2,159
797
2,134
918
2,063
1,037
26, 226
699
1,004
84
137
84
141
1,900
1,734
36, 871
4
66, 905
1,735
239
10
249
1,543
74, 962
2,206
303
12
315
1,421
87,611
3,410
420
28
448
1,285
77, 087
2,663
348
9
357
1,348
71, 442
2,880
405
7
412
1,213
85, 182
3,828
551
19
670
1,110
100,341
4,447
782
37
819
974
127, 668
6,228
1,388
305
1,693
794
58, 561
42,327
40, 813
38, 937
40, 234
48, 178
40, 211
33. 898
26, 814
18,604
5,853
4,016
4,274
3,145
2,332
2,527
1,845
1,673
1,103
936
TENNESSEE
1932.-
1933..
1934..
1935 . .
19.36 .
1937.,
19.38..
19.39..
1940..
1941..
5, 199
1,010
5, 216
1, 510
6,239
1,968
5, 359
2, 128
5,212
2, .582
5, 073
2, .356
4,879
2,238
4,791
2,468
4,731
2,625
4,706
3,029
221, 451
12, 997
1,700
1,700
3,678
414, 280
24, 473
3,371
96
3,467
3.179
527,991
28,511
3,920
92
4,012
2,858
618, 006
33. 141
4,657
175
4,732
2,814
860, 658
53, 267
7,868
338
8,206
2,274
828, 127
49, 228
7,447
381
7,828
2,386
707, 079
40, 372
6,309
79
6,389
2,347
846,511
55, 267
8.865
230
9,095
2,072
970,218
63, 866
13, 320
1,573
14, 893
1,874
1, 344, 609
109, 271
26,609
15,953
41, 661
1,424
358, 843
223, 299
233, 119
227, 056
161,954
233, 268
231,716
178,912
144, 083
98, 902
42, 422
29,563
23, 960
18. 223
12, 422
12, 486
12, 648
13, 374
10, 942
8,566
For footnotes, see pp. 293-298.
STATISTICS OF INCOME FOR 1941, PART 2
291
Table 22. — Corporation returns, 1932-1941,^ in aggregate for the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax — Continued
V
[Money figures
in thousands of dollars]
Total
num-
ber
of re-
turns 2
Returns with net income *
Returns with no|net income*
Year
Num-
ber
Gross in-
come 3
Net in-
come <
Income
tax"
Excess
profits
taxes'
Total
tax
Num-
ber
Gross in-
come 3
Deficit*
TEXAS
15, 154
2,982
15,168
4,198
15, 582
5,343
15, 675
5,772
15, 977
7,170
16, 074
7,251
15, 743
6,495
15, 723
6,933
15, 711
7,366
14, 951
8,198
730, 901
1, 057, 647
1, 389, 776
1, 920, 227
2, 822, 031
3, 242, 701
2,354,511
2, 476, 394
3, 118, 243
4, 084, 639
40, 858
4,713
4,713
10, 653
57, 596
7,968
366
8,334
9,296
92, 504
12, 721
340
13,061
8,649
103,850
14, 301
549
14, 850
8,373
213, 131
29,262
878
30, 140
7,340
248, 041
34, 973
2,146
37, 119
7,170
184, 322
25, 922
283
26, 206
7,692
181,416
26,294
309
26, 603
7,250
213, 437
42, 839
1,802
44,641
6,887
369, 480
88, 908
21, 750
110, 658
5,499
812, 817
578, 827
868, 403
719, 347
536, 298
592, 006
1, 028, 872
961, 478
563, 391
374, 732
156, 413
106, 726
108, 099
75, 325
50,724
54, 035
66,008
53, 797
58, 335
39,900
UTAH
2,901
419
2,923
615
2,902
802
2,842
901
2.810
1,091
2,691
1,008
2,759
938
2,646
1,015
2,555
1,108
2,486
1,214
29, 847
98,744
151, 093
173, 666
232, 821
233, 999
187, 045
251, 077
264, 723
336, 885
573
206
206
1,909
387
741
16
757
1,688
606
1,043
19
1,062
1,550
358
1,287
44
1,331
1,451
532
1,960
55
2,015
1,249
867
2,258
120
2,378
1,226
173
1,606
15
1,621
1,293
550
2,262
29
2,291
1,187
070
4,097
390
4,486
1,058
695
7,243
2,517
9,760
887
140, 058
90, 107
80, 449
79, 437
59, 133
77, 428
83, 910
57, 488
65, 802
49, 256
18, 527
14, 025
9,991
7,096
5,988
6,607
5,625
3,554
3,623
3,467
VERMONT
1,174
221
1,184
291
1,244
404
1,241
413
1,219
507
1,182
482
1,192
423
1,231
471
1,220
521
1,199
631
25, 752
44,715
65,284
81,531
111,188
115, 149
83,211
107, 808
136, 201
211, 229
210
158
308
158
313
899
826
273
5
005
551
6
557
767
787
658
19
677
757
601
964
43
1,007
652
602
1,233
61
1,294
642
538
730
21
751
700
862
1,271
28
1,299
700
064
3,109
2,061
5,170
632
059
4,395
6,795
11, 190
517
71, 086
48, 924
49, 680
53, 377
49, 914
52, 372
64,405
58,068
51, 526
28,344
10, 090
5,898
4,890
4,733
3,953
3,317
5,334
4,253
3,552
3,237
VIRGINIA
6,915
1,490
6,815
1,930
6,893
2,542
6,876
2,742
6,846
3,282
6,832
3,229
6,894
3,031
6,946
3,541
7,085
3,963
7,044
4,601
378, 009
502, 610
641,816
697, 714
909, 028
988, 325
820, 207
1, 074, 907
1, 276, 922
1, 727, 820
36, 692
4,972
4,972
4,765
43, 882
6,060
113
6,173
4,211
54,682
7,519
99
7,618
3,794
56, 778
7,807
156
7,963
3,639
94, 794
14,287
252
14, 539
3,100
108, 187
15, 260
398
15, 658
3,184
77, 105
11,513
106
11,619
3,415
116, 481
17, 866
456
18, 321
3,019
145,858
31, 197
4,990
36, 187
2,718
217,055
49, 714
34, 773
84, 487
2,091
360, 176
266, 697
230, 031
247, 877
216, 083
235, 851
302, 389
210, 124
202, 589
185, 154
62, 779
62, 341
36, 450
39, 703
25, 072
22. 214
29,480
21, 478
25, 922
17,478
For footnotes, see pp. 293-298.
292
STATISTICS OF INCOME FOR 1941, PART 2
Table 22. — Corporation returns, 1932-1941,^ in aggregate for the United States and
by States and Territories,^^ for returns with net income and returns with no net
income: Number of returns, gross income, and net income or deficit; also for re-
turns with net income: Income tax, excess profits taxes, and total tax — Continued
[Money figures
in tliousands of dollars]
%
Total
num-
ber
of re-
turns 2
Returns with net income *
Returns with no net income *
Year
Num-
ber
Gross in-
come 3
Net in-
come *
Income
tax'
Excess
profits
taxes'
Total
tax
Num-
ber
Gross in-
come 3
Deficit <
WASHINGTON
12,328
1,654
11, 472
2,128
11, 457
2,903
11, 556
3,141
11,227
3,894
11,072
3,615
10, 636
3,088
10, 455
3,507
10, 324
3,986
9,979
4,715
166, 579
293,411
510, 734
639, 526
883, 242
914, 624
650, 622
861, 267
1, 067, 562
1, 615, 662
7,744
954
954
8, 150
12, 805
1,768
55
1,823
7,206
25, 764
3,537
100
3,637
6,483
32, 449
4,462
196
4,658
6,196
63, 898
7,718
253
7,971
5,319
65, 665
8,084
465
8,549
5,350
40, 552
5,239
66
6,305
5,551
63,825
8,860
181
9,041
4,983
93, 976
17, 781
a 658
21, 439
4,402
183, 320
36, 516
40, 340
76, 856
3,346
499, 153
401, 664
339, 317
313, 667
279, 851
312, 410
368, 077
285, 460
209, 903
126, 459
WEST VIRGINIA
4,807
962
4,554
1,290
4,662
1,726
4, 543
1,870
4,490
2,246
4,505
2,213
4,560
1,870
4,663
2,128
4,748
2,395
4,650
2,836
119, 373
7,915
1,039
1,039
1
3,344
223, 741
17,919
2,465
32
2,497
2.831
430, 706
29,008
3,987
52
4,039
2,525
510, 002
34, 388
4,728
135
4,863
2,328
640, 222
53, 126
7,145
294
7,439
1.975
681, 886
53, 056
7,787
488
8,275
2,034
434, 864
34, 156
5,295
33
5,329
2,385
574, 557
45,628
6,743
143
6.885
2,190
638, 269
49, 241
9, 754
577
10, 331
2,034
929,206
89, 026
20,010
13, 103
33, 113
1,502
258, 395
205. 260
187, 118
152, 547
ISO, 628
168, 317
239, 510
152, 169
141, 834
82,138
WISCONSIN
16, 203
2,806
15, 852
3,422
15, 910
4,559
15, 916
5,087
15, 793
6,427
15, 595
6,267
15, 425
5.140
14, 935
6,958
14, 767
6,564
14, 451
7,753
391, 493
718, 626
1, 025, 696
1, 273, 028
1,935,018
2, 030, 890
1, 475, ' "
1, 854, 483
2, 175, 776
3, 170, 166
19, 848
9 2,602
9 2, 602
11, 176
37, 548
5,201
155
5,356
10, 147
51,209
7,042
154
7,196
9,177
62, 182
8,552
294
8,846
8,600
120, 224
18, 639
669
19. 308
7,177
130, 714
21, 759
1,411
23, 170
7,282
82, 092
12, 783
98
12, 881
8,279
120, 094
19, 245
285
19, 530
7,237
169, 354
35,628
9,224
44, 851
6.596
312, 230
65, 830
76, 603
142, 433
5,162
829, 237
631, 140
614, 934
616, 960
453, 980
545, 449
722, 681
451, 292
408, 885
284, 670
WYOMING
1,495
246
1,322
291
1,313
391
1,297
443
1,247
553
1,190
506
1,187
608
1,150
562
1,152
691
1,131
646
9,859
14, 800
29,056
37, 844
48, 187
48, 456
41,423
47, 565
51,857
62, 864
5?8
59
59
1,039
590
79
1
80
879
1,413
194
6
200
787
1,922
264
13
277
715
2, 757
344
13
357
570
3, 358
415
39
454
560
3, 205
467
5
472
543
3,960
516
16
632
479
4,680
711
37
748
443
7,352
1,562
337
1,899
369
35, 317
26,870
24, 769
23,007
20,417
21,060
21, 441
16, 908
15, 918
12, 577
For footnotes, see pp. 293-295.
STATISTICS OF INCOME FOR 1941, PART 2
293
Table 23. — Consolidated income tax returns, 1928-1941^^° {excluding excess profits
tax returns filed under section 710 of the Code.^^ For all consolidated returns:
Number of returns and number of subsidiaries; for consolidated returns with net
income and consolidated returns with no net income: Number of returns, total
compiled receipts, net income or deficit; also for consolidated returns with net in-
come: Net operating loss deduction, and income tax
[Money figures in thousands of dollars]
All consolidated
returns
Consolidated returns with net income <
Consolidated returns with
no net income *
Year
Num-
ber of
returns
Num-
ber of
subsidi-
aries
Num-
ber of
returns
Total
compiled
receipts «»
Net in-
come <
Net
opera-
tin?
loss de-
duc-
tion 32
Income
tax*
Num-
ber of
returns
Total
compiled
receipts M
Deficit*
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
9,300
8,754
8,951
8,495
7,426
7,101
86 445
63
98
93
102
108
112
107
(63)
30, 112
32, 209
31. 307
29, 232
28,589
2,522
464
722
693
690
715
709
706
5,870
5,408
4,067
2,698
1,272
1,880
147
9
35
30
22
31
44
65
62, 534, 503
62, 453, 733
"46,258,564
24, 075, 862
11,048,877
16, 391, 348
2, 868, 520
353, 848
1, 586, 159
1, 325, 010
975,011
1, 479, 811
2, 423, 165
4, 612, 131
5, 060, 380
5, 953, 845
3, 377, 845
1, 846, 305
502, 381
833, 394
69, 444
5,422
114,617
67, 320
41,078
111,244
181, 237
293, 036
101, 242
213, 892
51, 045
41,131
35, 003
"6," 064"
40, 346
591, 382
631, 375
398, 284
216, 547
67, 335
6< 120, 983
10, 315
854
13, 761
6,071
4,842
13, 353
32, 965
60, 490
3,430
3,346
4,884
5, 797
6,154
5,221
298
54
63
63
80
77
68
42
7, 290, 894
10, 002, 595
17,397,584
26, 168, 255
21, 086, 459
15, 298, 496
2, 310, 148
2, 015, 586
2, 065, 261
2, 324, 682
2, 287, 380
2, 350, 620
2, 058, 485
73S, 147
567, 006
737, 358
1, 519, 519
2, 503, 046
2, 835, 184
1, 962, 969
296, 741
217, 281
159, 123
184, 030
288, 825
192, 767
138, 960
42, 451
Footnotes for historical tables 17-23, pp. 270-293
1 Changes in the Federal tax laws affecting the
comparability of data from income tax and profits
tax returns of corporations are summarized on pages
306-321; textual discussion of comparability appears
on pages 38-40.
2 The total number of returns shown includes re-
turns of inactive corporations. For 1909-26 the
number of returns of inactive corporations is not
available, being included in the number of returns
with no net income; for 1927-41 the number of returns
of inactive corporations may be obtained by deduct-
ing the sum of the returns with net income and the
returns with no net income from the total number of
returns.
There follows a rfcumg of the kinds of returns
included in the number of returns as tabulated
in tables 17-23:
1909-12. Keturns of annual net income.
1913-17. Income tax returns.
1918. Income, war-profits, and excess-profits
tax returns.
1919-21. Income and excess-profits tax returns.
1922-32. Income tax returns.
1933-41. Income and (declared value) excess-
profits tax returns. (The corpora-
tion excess profits tax returns which
are required to be filed for 1940 and
1941 in addition to the income and de-
clared value excess-profits tax returns
are not included) .
' "Gross income" as tabulated is obtained from
"Total income" as reported on the return by adding
"Cost of goods sold," "Cost of operations" (except
for 1931), and any negative items reported under
sources of income. (Correspondingly, these items
are added to deductions.) "Gross income" is smaller
then "Total compiled receipts," as shown in tables
19 and 20, by the amount of wholly tax-exempt in-
terest on government obligations for 1926-40 and by
the sum of the wholly tax-exempt interest and the
interest subject to surtax only, for 1941.
The gross income figure is understated for 1918
through 1924 as a result of railroad and other public
utility corporations frequently reporting only the
net amount of income on the face of the return. It
was inexpedient, because of the cost and time required,
to inspect the numerous supporting schedules in such
cases for the purpose of compiling gross income and
general deductions. The understatement is esti-
mated to be 5 billion dollars for 1918 and 1919, and
nearly twice that amount for 1920 and 1921. There
is no estimate as to the amount by which the gross
income for 1922 through 1924 is understated.
The gross income figrn-e for 1918 through 1921
excludes dividends received from (1) domestic cor-
porations (except those receiving a large percentage
of their gross income from sources within a possession
of the United States for 1921), (2) foreign corpora-
tions taxable by the United States on their net in-
come, and (3) personal service corporations out of
earnings upon which a Federal income tax has been
imposed. (The Revenue Act of 1918 provided that
dividends received on stock of corporations which
were taxable upon their net income were to be de-
ducted from gross income; but the 1918 return —
which was printed before the act was passed — ex-
chided them from gross income by providing for them
to be reported with other nontaxable income. Such
dividends were included in gross income on the 1919-
21 returns but were excluded in tabulation to pro-
duce a gross income for 1919-21 which would be com-
parable to that reported and tabulated for 1918.)
The aggregate amount of these nontaxable dividends,
including the amount reported on returns with no
net income, is shown below for each year involved:
Year
Amount of nontaxable dividends
excluded from gross income
1918.
1919..
1920
1921
$420,653,468 (excluded on return).
*o7roTo loal (excluded in tabula-
:„T'qfifi'i^fUioD to produce gross
«^Q n 7 7fin income comparable to
$509,117,760Jj^3j on 1918 return).
(Footnotes continued on p. 294)
294
STATISTICS OF INCOME FOR 1941, PART 2
'Footnotes for historical tables 17-23, pp. 270-293 — Continued
♦ A comparison, for 1909^1, of the item tabulated
for amount of "net income" or "deficit" and of the
basis for classifyine the returns into those "witii net
income" and "with no net income," follows:
Year
1909-12-...
1913-19.
1920-33...-
1934-35.
1936....
1937-39---.
1940-41--.
Item tabulated for
amount of "net in-
come" or "deficit"
Column 1
Net income (for excise
tax computation) .
Net income (for in-
come tax computa-
tion). Includes, for
1913, net income for
excise tax computa-
tion reported for
portion of taxable
year prior to Mar.
1, on which date the
income tax became
effective.
Net income (for cur-
rent year, i. e., be-
fore deduction of
prior year loss,
1922-32).
Net income subject
to income tax.''
Net income for (de-
clared value) excess-
profits tax compu-
tation.":
Net income for (de-
clared value) excess-
profits tax computa-
tion.
Net income for de-
clared value excess-
profits tax computa-
tion, adjusted by
excluding net oper-
ating loss deduction.
Basis for
classification
"with net in-
come" and
"with no net
income" "•
Column 2
Excise tax lia-
bility, or no
excise tax lia-
bility.
Same as col-
umn 1.
Same as col-
umn 1.
Same as col-
umn 1.
Net income for
income tax
computa-
tion.e
Same as col-
umn 1.
Same as col-
umn 1.
» Prior to 1927, returns of inactive corporations
were classified as returns with no net income.
' This amount, which is the net income less in-
terest on Liberty bonds, etc., is comparable with
net income as tabulated for prior years.
« The only difference between the two items of
net income, for 1936, is the amount of the declared
value excess-profits tax, $21,612,551.
» The amounts shown as "Income tax" for 1909-15
are tax collections which include interest and pen-
alties resulting from additional assessments; for
1916-41, are the amounts of tax liability reported on
the returns.
For 1909-12, the amount represents the special ex-
cise tax; for 1913, consists of $32,456,663 income tax
and $10,671,077 excise tax. The taxes included in
the amounts shown for 1914-41 are as follows:
Taxes tabulated as "Income tax"
From returns for:
(a) calendar year
From returns for:
coincident with
(a) Fiscal years
year shown at left.
ending in period
(6) fiscal year end-
July through No-
ing in period Jan-
vember of year
uary through June
shown at left, and
Tax
of succeeding cal-
(6) part years be-
year
endar year, and
ginning in the im-
(c) part years be-
mediately preced-
ginning in year
ing year, but with
shown at left pro-
greater part of ac-
vided all or greater
counting period
part of accounting
falling in year
period falls in such
shown at left
year
1914
1
through
Hncome tax
Income tax.
1935
1
[Normal tax
1936- —
< Surtax on undistrib-
l uted profits.
Income tax.
[Normal tax
Normal tax.
1937-.-.
•j Surtax on undistrib-
[Surtax on undistrib-
l uted profits.
uted profits.
[Normal tax.
1938
Income tax.
■(Surtax on undistrib-
[ uted profits.
1939._--
Income tax
Income tax.
1940---
Income and income
defense taxes.
Income tax.
/Normal tax
Ilncome and income
J defense taxes.
1941
(Surtax
« The amount shown as "Excess profits taxes" for
1917-22 consists of war-profits tax and excess-profits
tax. The (declared value) excess-profits tax became
effective June 30, 1933, under the tax provisions of
the National Industrial Recovery Act. For 1934
and 1935, the amount tabulated includes a small
amount of (declared value) 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 computation of income tax, is not al-
lowed against net income in the computation of (de-
clared value) excess-profits tax. (See art. 1(d), Treas-
ury Decision 4469, "Regulations relating to the ex-
cess-profits tax imposed by section 702 of the Revenue
Act of 1934.") For 1940 and 1941, in addition to the
declared value excess-profits tax, the amounts shown
include the excess profits tax imposed by section 710
of the Internal Revenue Code, which section was
added by the Second Revenue Act of 1940, effective
for taxable years beginning after December 31, 1939.
This latter tax for 1940 is $373,510,919, reported as
item 32 on Form 1121; and for 1941 is $3,359,185,514,
composed of (1) the excess profits tax reported as item
32 on Form 1121 by corporations with fiscal years be-
ginning in 1940, and (2) the excess profits tax reported
as item 35 on Form 1120 by corporations with tax-
able years beginning in 1941.
' The amount "Dividends paid" excludes liqui-
dating dividends; for years prior to 1928, excludes
also dividends paid by life insurance companies.
(Footnotes continued on p. 295)
STATISTICS OF INCOME FOR 1941, PART 2
295
Footnotes for historical tables 17-23, pp. 270-293 — Continued
' Data for 1909 through 1915 are for the fiscal year
ending June 30 of the following year, as shown in
the annual reports of Commissioner of Internal Rev-
enue; 1915 contains data from approximately 32,000
returns related to 1914. (See Annual Report, Com-
missioner of Internal Revenue, 1916, p. 26.)
» Revised as indicated below:
Year
to
which
revision
is
appli-
Statistics of Income
showing revision
(Beginning 1934,
Item
references are to
Part 2)
cable
Year
Page
Note
1925_...
Gross income
1935
21
7
1926...-
Assets and liabilities.
}l928
f 388
1 329
1927....
Dividends paid
Liabilities- __ _ ..
1931
32
1928.-..
Gross income and
deductions.
1930
238, 239
Dividends paid
}l935
{ ^
2
Tax-exempt interest-
14
1929....
Assets and liabilities.
1930
28
Dividends paid
1934
9
2
Taxes paid
1
Miscellaneous de-
^941
(")
ductions
1
1930....
Receipts and de-
ductions.
Total compiled re-
ceipts
Interest on Federal,
1931
32,33
etc. bonds.
U933
37
Surplus
Miscellaneous lia-
bilities.
Dividends paid
1935
9
2
1931....
Assets and liabilities-
Investments other
than tax-e.xempt.
1932....
Net loss for prior
year.
Income tax ..
1933
37
Total tax
Receipts and de-
ductions.
Liabilities
1934....
Dividends paid
Interest on tax-
1935
I 9
I 24
2
exempt obliga-
14
tions.
Gross income
Number of returns-.
[l939
231
63
Deficit
1939.-..
Capital stock, pre-
ferred.
il940
306
R(a)
Surplus reserves
» The amount of "Taxes paid" has been increased
by $30,000,000 and "Miscellaneous deductions" have
been decreased by that amount. The revision af-
fects the industrial group "Transportation and other
public utilities," returns with net income, in sta-
tistics of Income for 1929, table 14.
'" Data for returns with net income for 1918 and
1920-24, and for returns with net income and with
no net income for 1925-30 appear in Statistics of In-
come for 1930, pages 49-51; for returns with net in-
come and with no net income for 1931-34 appear in
Statistics of Income for 1934, Part 2, pages 36 and 37;
for returns with net income and with no net income
for 1935-37 appaar in Statistics of Income for 1937,
Part 2, page 34.
" The number of returns excludes those of inactive
corporations except for 1926.
12 "Gross sales" is the amount received less returns
and allowances— from trading and manufacturing
for 1926-31, and where inventories are an income-
determining factor for 1932-41. For "Cost of goods
sold" see, "Deductions."
13 "Gross receipts from operations" and "Cost of
operations" are not available, 1926-1931; the gross
amount shown for each of these years is the gross
profit from operations. For "Cost of operations"
1932 and thereafter, see "Deductions."
u "Taxable interest on government obligations"
is interest received on (1) Treasury notes of the
National Defense Series and (2) obligations issued
on or after Ma*ch 1, 1941, by the United States or
any agency or instrumentality thereof.
" The amounts for "Rents and royalties" are the
gross amounts received. Depreciation, repairs, in-
terest, taxes, and other expenses which are deductible
from the gross amount received for rents, and the
amount of depletion which is deductible from the
gross amount of royalties received, are included in
the respective deduction items. Prior to 1938,
royalties are included in "Other receipts."
"8 For 1932 and 1933 "Net capital gain," as tabu-
lated, is a composite of net gain (excess of gains over
losses) resulting from (1) sales or exchanges of stocks
and bonds (a) held two years or less, hence not
classed as capital assets and (6) in the case of traders
in securities, held over two years but not considered
capital assets and (2) net gain or loss resulting from
(a) sales or exchanges of capital assets and (b) sales
or exchanges of real estate, regardless of time held.
For 1934-39 consists of net gain resulting from sales
or exchanges of stocks, bonds, and other assets, re-
gardless of time held. For 1940 and 1941, consists of
net gain resulting from sales or exchanges of capital
assets — (1) held for 18 months or less and (2) held for
more than 18 months. For 1938-41 there is excluded
net gain resulting from sales or exchanges of depre-
ciable assets. (See note 17.) For definition of capi-
tal assets, see page 313, note 4(b), paragraphs 7 and 8.
17 "Net gain or loss, sales other than capital assets."
is the net amount of gain or loss arising from the sale
or exchange of property, u.sed in trade or business, of
a character which is subject to the allowance for
depreciation.
18 "Dividends from domestic corporations" are
those from corporations subject to taxation under
the effective Federal tax law, excluding dividends
from corporations organized under the China Trade
Act, 1922, and from corporations receiving a large
percentage of their gross income from sources within
a possession of the United States, such excluded
dividends being tabulated in "Other receipts."
Dividends from domestic corporations were not
required to be included in net income prior to 1936.
See note 4(a), page 312.
1' "Other receipts" include dividends from corpo-
rations organized under the China Trade Act, 1922;
dividends from corporations entitled to the benefits
of section 251 of the Code (corporations receiving a
large percentage of their gross income from sources
within a possession of the United States); and
amounts not elsewhere reported on the return, such
as: Profit from sales of commodities other than the
principal commodity in which the corporation deals;
income from minor operations; bad debts recovered;
cash discounts; conditional payments from United
States Department of Agriculture; Federal income
tax paid by lessee; income from claims, licen.se rights,
judgments, and joint ventures; net amount under
operating agreements; net profit from commissaries;
profit on dealing in futures: profit on prior years'
collections (installment basis); profit on purchase of
corporations' own bonds; recoveries of bonds, stocks,
and other securities; refunds for cancellation of con-
tracts, for insurance, management expenses, and
processing taxes; and income from sales of scrap,
salvage or waste; royalties, and net gain from sale of
stocks, bonds, and other assets, 1926-28.
(Footnotes continued on p. 296)
296
STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for historical tables 17-23, pages 270-293 — Continued
s" "Interest on Government obligations subject to
declared value excess-profits tax" for 1934-41, and
subject also to surtax for 1941, consists of interest on
United States savings bonds and Treasury bonds
issued prior to March 1, 1941, and owned in principal
amount over $5,000. For 1934-36, interest on obliga-
tions of instrumentalities of the United States other
than those issued under the Federal Farm Loan
Act or such Act as amended was also subject to
declared value excess-profits tax. The entire amount
of interest subject to declared value excess-profits tax
for 1934 and 1935 is included in the figure shown for
wholly tax-exempt interest.
21 "Interest on Ooverrunent obligations, subject to
surtax only" is the interest on obligations of instru-
mentalities of the United States (other than obliga-
tions issued under the Federal Farm Loan Act, or
such Act as amended) issued prior to March 1, 1941.
22 "Interest on Government obligations, wholly
tax-exempt," consists of interest on obligations of
States, Territories, and political subdivisions thereof,
the District of Columbia, and United States posses-
sions; obligations of the United States issued on or
before September 1, 1917, Treasury notes issued prior
to December 1, 1940, Treasury bills, and Treasury
certificates of indebtedness issued prior to March 1,
1941; obligations issued prior to March 1, 1941, under
the Federal Farm Loan Act or under such Act as
amended and United States savings bonds and
Treasury bonds issued prior to March 1, 1941, and
owned in principal amount of $5,000 or less. For
1937-40 includes also interest on obligations of instru-
mentalities of the United States, other than those
issued under the Federal Farm Loan Act, or such
Act as amended. The amounts shown as wholly
tax-exempt interest for 1934 and 1935 include the
interest on Government obligations, subject to
declared value excess-profits tax.
2' "Total compiled receipts" excludes nontaxable
income other than tax-exempt interest received on
certain Government obligations.
2* Items o'f deductions which are reported in "Cost
of goods sold" or in "Cost of operations" are tabu-
lated as reported, in "Cost," and not transferred to
the respective deduction item, except amortization
of emergency facilities reported in costs, such amount
being transferred to "Amortization." (See note 36.)
25 Amount for "Compensation of officers" excludes
compensation of officers of life insurance companies
which file Form 1120L, since such data are not
required to be reported on the return.
26 Amount shown as "Repairs" is the cost of inci-
dental repairs, including labor and supplies, which
do not add materially to the value of the property or
appreciably prolong its life. For 1938 and prior
years, "Repairs" were included in "Other deduc-
tions."
"The item "Taxes paid" excludes (1) Federal in
come tax and Federal excess profits taxes, (2) estate,
inheritance, legacy, succession, and gift taxes, (3)
that portion of income and profits taxes paid to for-
eign countries and United States possessions which
for 1926-31 is claimed as a credit against income tax,
or, for 1932-41, the entire amount of such tax if any
portion thereof is claimed as a credit against income
tax, (4) taxes assessed against local benefits, (5) Fed-
eral taxes paid on tax-free covenant bonds, and (6)
taxes reported in "Cost of goods" and "Cost of
operations."
»9 The deduction claimed for "Contributions or
gifts" is limited to 5 percent of net income as com-
puted without benefit of deduction for contributions
or gifts. It was not allowable prior to 1936.
" For 1932 and 1933 "Net capital loss," as tabu-
lated, consists of the excess of net loss resulting from
sales or exchanges of (1) capital assets and (2) real
estate, regardless of time held, over net gain resulting
from sales or exchanges of stocks and bonds held two
years or less, and therefore not classed as capital
assets. For 1934-39 consists of the deduction allow-
able for "Net capital loss" (excess of losses over gains
resulting from sales or exchanges of stocks, bonds, and
other assets, regardless of time held) which deduc-
tion cannot exceed $2,000 or the amount of net capital
loss, whichever is less. For 1940 and 1941 consists of
the excess of losses over gains resulting from sales or
exchanges of capital assets held over 18 months.
For 1938-41 there is excluded the net loss from sales
or exchanges of depreciable assets. (See note 17.)
For definition of capital assets, see page 313, note
4(6) , paragraphs 7 and 8.
M "Other deductions" include (1) negative amounts
reported under income, (2) losses by abandonment,
fire, storm, shipwreck, or other casualty, and theft,
(3) salaries and wages not deducted elsewhere on the
return, (4) amounts not otherwise reported, such as:
Administrative, general, and office expenses; adver-
tising costs; bonuses and commissions; delivery
charges; freight and shipping expenses; payments in
connection with lawsuits; research expenses; sales
discount; selling costs; travel expenses and unrealized
profits on installment sales, and (5) special deduc-
tions of life insurance companies relating to reserve
for dividends and reserve funds required by law.
(See note 35.)
31 "Net income" is less than "Compiled net profit,"
and "Deficit" is greater than "Compiled net loss,'
for 1926-35 by the sum of "Dividends from domestic
corporations" and "Interest on Government obliga-
tions"; for 19-36-40 by the amount of "Wholly tax-
exempt interest on Government obligations"; and
for 1941 by the sum of (1) "Wholly tax-exempt
interest on Government obligations" and (2) "In-
terest subject to surtax only."
32 The amounts tabulated as "Net operating loss
deduction" for 1926-32 represent "Net loss for prior
year" reported and effective as a deduction in deter-
mining statutory net income for those years. The
law provides, in general, that such loss is deductible
in the two years succeeding that in which the loss is
sustained, except for 1931, when the loss could be
carried forward only one year. A prior year loss was
not deductible in computing statutory net income
for 1933 through 1939. The figures for 1940 and 1941
are those of the deduction due to net operating loss
for prior year. For 1940 this deduction represents
the net loss (after certain reductions) sustained in
19.39; for 1941, it represents such loss sustained in the
two preceding taxable years. The prior year loss
deduction has not been taken into consideration in
computing the net income as tabulfetea in Statistics
of Income.
33 Amounts for the following items are included in
"Other receipts": "Dividends from foreign corpora-
tions," 1926-36; "Royalties," 1926-37; and "Net gain,
sale of stocks, bonds, and other assets," 1926-28.
3< "Interest on Government obligations, subject to
declared value excess-profits tax" is included in
"Interest on Government obligations wholly tax-
exempt," for 1934 and 1935.
3« Amounts for the following items are included in
"Other deductions": "Compensation of officers," for
1926 and 1927; "Rent paid on business property" for
1926-32; "Repairs" for 1926-38; "Rad debts" for 1926;
"Net los.s, sales of stocks, bonds, and other assets,"
1926-29; "Cost of operations," 1932.
(Footnotes continued on p. 297)
STATISTICS OF INCX)ME FOR 1941, PART 2
297
Footnotes for historical tables 17-23, pages 270-293 — Continued
38 "Depreciation" (all returns) for 1940 includes
$7,593,030 reported as a deduction with respect to the
amortization of the cost of emergency facilities neces-
sary for national defense; the amount of such amorti-
zation deduction included in "Depreciation" (all
returns) for 1941 is $113,810,119.
" Compiled net loss or deficit.
38 Items of receipts and deductions, "Compiled net
profit or net loss," "Net income or deficit", and
"Prior year loss" are not available for corporation
returns with balance sheets for the years 1926-30.
3» Number of returns with balance sheets excludes
returns with fragmentary balance sheet data, and
except for 1926, also excludes returns of inactive
corporations.
*" Amount shown as "Cash" includes bank de-
posits.
<i Amount shown as "Investments, Government
obligations" consists of obligations of the United
States or any agency or instrumentality thereof;
obligations of States, Territories, and political sub-
divisions thereof; the District of Columbia, and
United States possessions.
« "Capital assets" consist of (1) depreciable tangi-
ble assets such as buildings, fixed mechanical equip-
ment, manufacturing facilities, transportation facili-
ties, furniture and fixtures, (2) depletable tangible
assets — natural resources, (3) land, and (4) for 1939-41,
intangible assets such as patents, franchises, formu-
las, copyrights, -leaseholds, goodwill, and trade-
marks. Prior to 1939 intangible assets were included
in "Other assets."
*3 "Other assets" consist of assets not elsewhere
reported on return, such as: Sinking funds; other
funds; deferred charges; organization expenses; pre-
paid and suspense items; interest, discount, coupons,
and dividends receivable; guaranty deposits, and de-
posits on contracts and meters; and cash value of
life insurance. "Other assets" of life insurance
companies include market value of real estate, bonds,
and stocks in excess of book value; interest, rents,
and premiums due; and agents' balances.
<* Assets and liabilities are tabulated as of Decem-
ber 31, or close of fiscal year nearest thereto. Ad-
justments are made in tabulating the data as follows:
(1) Reserves for depreciation, depletion, amortiza-
tion, and, except for 1926, reserve for bad debts, when
reported under liabilities are used to reduce the cor-
responding assets account, and "Total assets" and
"Total liabilities" are decreased by the amount of
such reserves, (2) a deficit in surplus, reported under
assets, is transferred to liabilities, and "Total assets"
and "Total liabilities" are decreased by the amount
of the deficit.
<* Notes payable with maturity less than one year
are included in "Notes and accounts payable," 1926-
36.
" Notes payable with maturity of one year or more
are mcluded in "Bonded debt and mortgages," 1926-
36.
<' "Other liabilities" consist of liabilities not else-
where reported on return, such as: Deferred and
Suspense items; accrued expenses; dividends pay-
able; funds held in tru^t; borrowed securities; out-
standing coupons apd certificates; and overdrafts.
Other liabilities of life insurance companies include
the net value of outstanding policies and annuities,
and borrowed money. Other liabilities of banks in-
clude deposits (time, savings, demand, etc.) and
bank notes in circulation. Other habilities of build-
ing and loan associations include certificates of
deposit.
<' "Surplus reserves," when specifically designated
as such, are tabulated in "Surplus and undivided
profits" for 1926-37; all other reserves, except those
for depreciation, depletion, and bad debts, are tabu-
lated in "Other liabOities."
" For 1926-36, the net amount of "Surplus and
undivided profits" or "Deficit" is tabulated from
each return. For 1937, "Surplus and undivided
profits" consists of the sum of the positive amounts
reported under "Paid in or capital surplus," "Earned
surplus and undivided profits," and "Surplus re-
serves"; "Deficit" consists of the sum of the negative
amounts reported under "Paid in or capital surplus"
and "Earned surplus and undivided profits." For
1938 and subsequent years, the method of tabula-
tion is the same as for 1937, except that "Surplus re-
serves," being tabulated separately, are excluded
from "Surplus and undivided profits."
•° "Other investments" are included in "Other
assets" for all corporations, 1926-28; and for life in-
surance companies 1926-29.
«i "Depreciation" (returns with balance sheets)
for 1940 incliides $7,494,252 reported as a deduction
with respect to the amortization of the cost of emer-
gency facilities necessary for national defense; the
amount of such amortization deduction included in
"Depreciation" (returns with balance sheets) for
1941 IS $112,526,919.
»2 A corporation is classified industrially according
to the business reported on the return. When diver-
sified activities are reported, the classification is de-
termined by the industry which accounts for the
largest percentage of total receipts. Therefore, in-
dustrial groups may contain data for activities other
than those on which the classifications are based.
The data by industrial classification for 1934 and sub-
sequent years are not strictly comparable with such
data for prior years, due to the general discontinu-
ance, under the Revenue Act of 1934, of the privilege
of filing consolidated returns for income tax purposes.
Prior to 1934, a consolidated return was classified on
the predominant activity of the group of .'affiliated
concerns, whereas, for 1934 and subsequent years,
the separate return filed by each concern which was
formerly a part of an affiliated group, is classified on
its predominant industry. Consolidated returns
were permitted to be filed for 1934 and subsequent
years by (1) groups of affiliated common carriers by
railroad and their related holding or leasing com-
panies (including electric railways after 1935, and
trackless trolley and bus systems after 1937) and, (2)
beginning with 1940, by Pan-American trade cor-
porations.
(Footnotes continued on p.
298
STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for historical tables 17-23, pages 270-293 — Continued
«3 Table 21 is the only table in this report showing
1938-41 data by industrial groups similar to the major
industrial groups in Statistics of Income for 1931-37.
The application of the Standard Industrial Classifi-
cation to returns for 1938-41 results in an increased
number of industrial groups with certain changes in
the contents of the groups. The 1938-41 data in
table 21 are made comparable in so far as possible,
with the data by major industrial groups as pub-
lished for 1931-37, by transferring certain industrial
Bctivities from the classification in which they are
tabulated in Statistics of Income, Part 2, for each
of the years 1938-41, to the classification in which
they are tabulated for 1937. Vice versa, a few ad-
justments are made in the 1937 data for major indus-
trial groups by transferring certain industrial activ-
ities from the classification in which they were
tabulated for 1937 to the classification in which they
would have been tabulated had the industrial classi-
fication for 1938-41 been used. Both the original
and the adjusted amounts are shown for 1937 in basic
table 21. For comparison of industrial groups in
which changes occur (1) between 1938 and 1937, see
Statistics of Income for 1938, Part 2, pages 243-273,
(2) between 1940 and 1939, see Statistics of Income
for 1940, Part 2, pages 310-314, and (3) between 1941
and 1940, see chart in this report on pages 300-303.
Although the 1937-41 data shown in table 21 are the
best comparison that can be presented, it should be
noted that they are not entirely comparable because
certain iadustrial activities within minor industrial
groups are included in different major industrial
groups for 1938-41 than for 1937, and since data for
these activities are not tabulated separately, adjust-
ment caimot be made.
«* "Liquors and beverages" included in "Food
and kindred products" prior to 1933.
« Less than $500.
«8 "Clothing and apparel" included in "Textile
mill products" prior to 1936.
" "Petroleum and other mineral oU products"
Included in "Chemicals and allied products" prior
to 1936.
'8 "Motor vehicles, complete or parts," included
in "Metal and its products" prior to 1936.
'9 Returns filed in a State may not be a complete
coverage of aU corporations whose principal place of
business is located therein. Conversely, a tabulation
for a given State may include data from returns of
corporations having their principal place of business
in another State. A corporation may file an income
tax return either in the collection district in which it
has its principal place of business or in the collection
district in which it has its principal oflBce or agency*
60 Data for earlier years not available.
61 For data pertaining to consolidated excess
profits tax returns see page 244-247.
62 "Gross income" is substituted for "Total com-
piled receipts," 1931 through 1934. See notes 3 and
23.
63 Not available.
6< Includes (declared value) excess-profits tax
(effective June 30, 1933, under provisions of National
Industrial Recovery Act) aggregattag $254,401.
6» Of this number, 76 returns were for common
carriers by railroad, the other 369 being returns per-
mitted to be filed for fiscal years ending prior to
December 31, 1934, by corporations other than com-
mon carriers by railroad.
MAJOR AND MINOR INDUSTRIAL GROUPS
IN WHICH
CHANGES OCCUR BETWEEN 1 94 1 AND 1940
299
300
STATISTICS OF INCOME FOR 1941, PART 2
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SYNOPSIS OF
FEDERAL TAX LAWS
AFFECTING THE COMPARABILITY OF HISTORICAL
DATA IN STATISTICS OF INCOME
A. Corporation income and profits tax credits, rates, and other
provisions of the Federal tax laws for the income
years 1909 through 1941.
B. Consolidated income and profits tax returns — provisions for
filing and tax rates under the Federal tax laws for the
income years 1917 through 1941.
305
306 STATISTICS OF INCOME FOR 1941, PART 2 1
• Table A. — Corporation income and profits tax credits, rates, and other
Federal tax law
(Date of enactment)
Income year
Income tax
Specific
credit ^
Taxable income *
Rate
(percent)
Act of:
Aug. 5, 1909 (Sec.
38, special excise
tax).
Oct. 3, 1913 (Sec. 2,
tax on income).
Revenue Act of:
1916(Sept. 8, 1916).
1916 as amended,
and 1917 (Oct. 3,
1917).
Jan. 1, 1909,
through Feb. 28,
1913.
Mar. 1, 1913,
through Dec. 31,
1915.
1916
$5,000
Net income in excess of specific credit-
All net income
-do-
1917.
1918 (Feb. 24, 1919)
1918_
2,000
1919, 1920.
2,000
Dividends out of earnings Mar. 1,
1913, through Dec. 31, 1915.
Net income in excess of the sum
of (1) excess-profits tax for the cur-
rent year, and (2) dividends re-
ceived out of earnings Mar. 1, 1913,
through Dec. 31, 1915.
Net income in excess of the sum of (1)
excess-profits tax for the current
year, and (2) dividends received
out of earnings Mar. 1, 1913, through
Dec. 31, 1917.
Net income in excess of the sum of (1)
the specific credit, (2) excess-profits
and war-profits taxes for current
year, and (3) interest received on
United States obligations issued
after Sept. 1,1917.
Net income in excess of the sum of (1)
the specific credit, (2) excess-profits
tax for current year, (3) excess-
profits and war-profits taxes on in-
come from Government contracts,
(4) partially tax-exempt interest
received on United States obliga-
tions issued after Sept. 1, 1917, and
on War Finance Corporation bonds.
For footnotes, see pp. 312-310
STATISTICS OF INCOME FOR 1941, PART 2 307
provisions ^ of the Federal tax laws for the income years 1909 through 1941 ^
Excess profits tax, and war-profits tax
Specific
exemption
Credit
Taxable income *
Rate
(percent)
Tax credit for in-
come and profits
taxes paid to
foreign countries
or United States
possessions
Excess-prof-
its:
$3,0006...
$3,000 6. .
War-profits:
$3,000 6. .
Excess-prof-
its:
$3,000 «..
(»)
(»)
(»)
An amount equal to the same per-
centage of invested capital ' for
the taxable year as the average
annual pre-war income was of
pre-war invested capital (not
less than 7 percent nor more
than 9 percent); or if corpora-
tion was not in existence during
at least one whole year of the
pre-war period, 8 percent of in-
vested capital for taxable year;
or if during pre-war period cor-
poration had either no net in-
come or a very small net income
or if invested capital cannot be
determined, same percent as
that of representative corpora-
tions. (See sec. 210, Revenue
Act of 1917.)
For corporation with no invested
capital or not more than a
nominal capital, none, other
than the exemption.
8 percent of the invested capital ?
for the taxable year.*
Either an amount equal to the
average pre-war net income
plus 10 percent, of the increase or
minus 10 percent of the decrease
of invested capital ' for the tax-
able year as compared with
average pre-war invested capi-
tal, or 10 percent of the invested
capital for the taxable year,
whichever is greater."
8 percent of the invested capital '
for the taxable year. 8
Government contracts: Excess-
profits and war-profits credit
same as 1918.
(') •
«
(») ■
Net income:
In excess of sum of
specific exemp-
tion and credit,
but not in excess
of 15 percent of
invested capital.
In excess of 15 per-
cent but not in
excess of 20 per-
cent of invested
capital.
In excess of 20 per-
cent but not in
excess of 25 per-
cent of invested
capital.
In excess of 25 per-
cent but not in
excess of 33 per-
cent of invested
capital.
In excess of 33 per-
cent of invested
capital.
All net mcome in ex-
cess of $3,000.
Net income equal to
20 percent of invest-
ed capital less ex-
emption and credit.
Net income in excess
of 20 percent of in-
vested capital.
80 percefit of net in-
come in excess of
sum of (1) war-prof-
its exemption and
credit and (2) excess-
profit tax.
Net income equal to
20 percent of invest-
ed capital less ex-
emption and credit.
Net income in excess
of 20 percent of in-
vested capital.
Total amount of net
income derived from
Government con-
tracts made between
April 6, 1917, and
Nov. 11, 1918, if in
excess of $10,000.
(«)-.
(')-.
(')-.
20...
25...
35...
45...
60...
&....
30 9.
65...
100 ».
2012.
For 1917 and prior
years, income
and profits taxes
paid to foreign
countries or
United States
possessions were
not allowed as
tax credit, but
were included in
general deduc-
tions from gross
income, except
that taxes paid
to foreign coun-
tries were not
allowed to foreign
corporations.
Amount paid or
accrued.'"
Do.i»
Excess-
profits
and war-
profits
tax rates
of Reve-
nue Act
of 1918.13
308 STATISTICS OF INCOME FOR 1941, PART 2
Table A. — Corporation income and profits tax credits, rates, and other provisions^
Federal tax law
(Date of enactment)
Income year
Income tax
Specific
credit ^
Taxable income*
Revenue Act of:
1921 (Nov,
1921).
23.
1921.
1924 (June 2, 1924).
1926 (Feb. 26, 1926) -
1928 (May 29, 1928).
1932 (June 6, 1932)..
National Industrial
Recovery Act (June
16. 1933)."
Revenue Act of:
1934 (May 10, 1934)
1935 (Aug. 30, 1935)
(as amended by
the Revenue Act
of 1936).
1936 (June 22, 1936).
1937 (Aug. 26,
1937).
1938 (May 28, 1938).
1922, 1923.
1924
1925
1926, 1927.
1928
1929
1930, 1931.
1932, 1933.
1933.
1934, 1935.
1936, 1937 31-
1936, 1937.
(")-
1938.
$2,000
2.000
2,000
2,000
2,000
3.000
3,000
3,000
Same as 1919, 1920.
Net income in excess of specific credit.
do.
do.
do
...do-
do
do-
All net income...
All net income in excess of partially
tax exempt interest received on obli-
gations of the United States.
Normal tax net income: "
Less than or equaling $2, 000
Exceeding $2,000 or equal-
ing. 15,000
Exceeding $15,000 or equal-
ing 40,000
Exceeding... 40,000
Undistributed net income '* (for sur-
tax):
First 10 percent of adjusted net
income."
Next 10 percent of adjusted net
income.
]^ext 20 percent of adjusted net
income.
Next 20 percent of adjusted net
income.
Remainder of undistributed net
income.
Adjusted net income," in total
amount:
(1) $25,000 or less-
First $5,000
Next $15,000.. ,
Next $5,000--..
(2) Slightly over $25,000 (alterna-
tive)—
First $25,000
Amount over $25,000
(3) Over $25,000 (general rule).
For footnotes, see pp. 312-316.
STATISTICS OF INCOME FOR 1941, PART 2 309
o/ the Federal tax laws for the income years 1909 through 1941 ^ — Continued
Specific
exemption
Excess profits tax, and war-profits tax
Credit
Taxable income *
Rate
(percent)
Tax credit for in-
come and profits
taxes paid to
foreign countries
or United States
possessions
Excess-profits:
$3,000 « -
Same as 1919, 1920.
Same as 1919, 1920.
Government contracts: Excess
profits and war-profits credit
same as 1918.
Same as 1918.
(Declared
value) e x •
cess-profits:
Same as
1919,
1920.
Same as
1918.
Amount paid or
accrued.'*
Do.i«
Do.'*
Do.'*
Do.'*
Do.'*
Do.'*
Do.'*
Do."
12J4 percent of adjusted declared
value of capital stock.
-do-
Net income in excess
of credit.
-do «.
10 percent of adjusted declared
value of capital stock.
Net income 2" in excess
of 10 percent and not
in excess of 15 per-
cent of adjusted de-
clared value.
Net income in excess
of 15 percent of ad-
justed declared
value.
Do.18
Do."
10 percent of adjusted declared
value of capital stock.
Net income ^o In excess
of 10 percent and not
in excess of 15 per-
cent of adjusted de-
clared value.
Net income in excess
of 15 percent of ad-
justed declared
value.
Do."
310 STATISTICS OF INCOME FOR 1941, PART 2
Table A. — Corporation income and profits tax credits, rates, and other provisions^
Federal tax law
(Date of enactment)
Income year
Income tax
Specific
credit "
Taxable income *
Bate
(percent)
Internal Revenue
Code (Feb. 10,
1939). 30
1939.
Adjusted net income,'' in total
amount:
(1) $25,000 or less-
First $5,000-
Next $15,000
Next $5,000_
(2) Slightly over $25,000 (alterna-
tive)—
First $25,000
(23)
Internal Revenue
Code as amended
by:
Revenue Act of
1939 (June 29,
1939).
Revenue Act of
1940 33 (June 25,
1940).
Second Revenue
Act of 1940 33
(Oct. 8, 1940).
Excess Profits Tax
Amendments,
1941 (Mar. 7,
1941, efffective as
of Oct. 8, 1940).
Amount over $25,000
(3) Over $25,000 (general rule).
12.5
14
16
Same a
above.
28 32
29 19
>1940.
Revenue Act of
1941.
1941.
Normal-tax net income," in total
amount:
$25,000 or less-
First $5,000-. ._
Next $15,000
Next $5,000
Over $25,000, and not over
$31,964.30—
First $25,000
Next $6,964.30
Over $31,964.30, and not over
$38,565.89—
First $5,000
Next $15,000
Next $5,000
Next $13,565.89
Over $S8;565.89-
Normal-tax net income," in total
amount:
$25,000 or less-
First $5,000
Next $15,000
Next $5,000 --
Over $25,000 and not over
$38,461.54—
First $25,000
Next $13,461.54....
Over $38,461 .54
Surtax net income: 3'
■ First $25,000
Amount over $25,000.
(S3)
32 14. 85
32 16. 5
32 18. 7
Same as
above.
38.3
15.4
16.9
18.9
36.9
24 of entire
normal -
tax net
income.
(23)
Same as
above.
37
24 of entire
normal -
tax net
income.
For footnotes, see pp. 312-316.
STATISTICS OF INCOME FOR 1941, PART 2 311
of the Federal tax laws for the income years 1909 through 1941 ^ — Continued
Excess profits tax
Tax credit for in-
come and profits
taxes paid to
Specific
exemption
Credit
Taxable income *
Eate
(percent)
foreign countries
or United States
possessions
Declared value
excess-profits:
10 percent of adjusted declared
value of capital stock.
Net income 21 in ex-
cess of 10 percent
and not in excess of
15 percent of ad-
justed declared
value.
Net income in excess
of 15 percent of ad-
justed declared
value.
6
12
Amount paid or
accrued."
Declared value
excess-profits:
10 percent of adjusted declared
value of capital stock.
Average income base: 95 percent
of average base period net in-
come 35 plus 8 percent of net
capital addition or less 6 per-
cent of net capital reduction.
Invested capital base: 8 percent
of invested capital. 35
Sameas 1940
Net income 20 in ex-
cess of 10 percent
and not in excess of
15 percent of ad-
justed declared
value.
Net income in excess
of 15 percent of ad-
justed declared
value.
Excess profits net in-
come 36 in excess of
sum of specific ex-
emption and excess
profits credit:
First $20,000
Next $30,000
Next $50,000
Next $150,000
Next $250,000
Over $500,000
Same as 1940
3»6.6
3» 13.2
Do '8
Excess profits:'*
$5,000
Declared value
excess-profits:
Amount not used
25
30
35
40
45
50
Same as
1940.
against income
tax.3T
Amount paid or
accrued."
Amount not used
$5,000
Average income base: " Same as
for 1940.
Invested capital base: 8 percent
of invested capital 's not in
excess of $5,000,000 plus 7 per-
cent of the amount in excess
of $5,000,000.
Excess profits net in-
come 39 in excess of
sum of specific ex-
emption, excess prof-
its credit, and excess
profits credit carry-
over:
First $20,000
Next $30,000
Next $50,000
Next $150,000
Next $250,000
Over $500,000
35
40
45
60
55
60
against income
tax.3'
312
STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for table A, synopsis of Federal tax laws
(References to notes are to the footnotes of this synopsis)
1 In general, applicable to all corporations whether
filing separate or consolidated returns. Exceptions
are explained in notes as indicated. (See also note
30, regarding personal holding companies; note 40,
corporations improperly accumulating surplus; and
table B, pp. 317-321, consolidated returns.)
2 (a) Income tax returns are required to be filed by
all corporations, regardless of amount of net income
or loss, except those which are exempt from tax
under specific provisions of the law, and those de-
scribed in (c) and (d) below.
(6) Returns were required to be filed on a calendar
year basis 1909 through 1912; for subsequent years,
corporations are permitted to file returns on a fiscal
year basis, except that life insurance companies are
required to file on a calendar year basis in accordance
with State laws regulating insurance companies,
1921 and subsequent years.
(c) Foreign corporations are required to file in-
come tax returns for all income from sources within
the United States, regardless of amount, and are en-
titled to the statutory deductions allowed against
such income, except that for 1936 and subsequent
years, foreign corporations not engaged in trade or
business in the United States and not having an office
or place of business therein, being liable to tax only
upon their fixed or determinable annual or periodical
income from sources within the United States, are
not required to file returns when the total tax has
been paid at source. When filing returns, such
foreign corporations are not allowed any deductions.
The returns of nonresident foreign corporations are
not included in Statistics of Income.
(d) Domestic corporations deriving a large per-
centage of their gross income from sources within a
possession of the United States report only income
from sources within the United States, or income
from sources within or without the United States re-
ceived within the United States, 1921 and subsequent
years. (See sec. 251, Internal Revenue Code.)
(e) Personal service corporations were treated as
partnerships, Jan. 1, 1918, through Dec. 31, 1921.
Prior and subsequent to said dates, such corporations
were subject to the same requirements for filing re-
turns as other corpoiations, except that for 1940 and
subsequent years an excess profits tax return. Form
1121, is not requiied if the personal service coipora-
tion elects to have its income taxed in tne hands of its
shareholders.
(/) Personal holding companies are required to file
returns for surtax, in addition to the corporation re-
turns for income and declared value excess-profits
tax, 1934 and subsequent years, but are exempt fiom
filing excess profits tax returns. Form 1121, for 1940
and subsequent years.
(g) For 1940 and 1941, in addition to the income and
declared value excess-profits tax return, Form 1120,
every corporation is required to file an excess profits
tax return. Form 1121, if its excess profits net income
(computed imder the invested capital method)
is more than $5,000, except (1) corporations exempt
from income tax, (2) personal holding companies,
(3) mutual investment companies, (4) diversified
investment companies registered with the Securities
and Exchange Commission, (5) foreign corporations
not engaged in trade or business within the United
States and not having an office or place of business
therein. (6) domestic corporations with net income
derived largely from sources outside the United
States, and (7) certain air mail carriers.
3 Specific credit not allowable to:
(a) Foreign corporations, except for 1909 through
1912;
(b) Domestic corporations with net income in
excess of $25,000, 1921 through 1931 (but if the net
income is slightly in excess of $25,000, the tax shall
not exceed the sum of the amount of net income in
excess of $25,000 and the tax which would be payable
iJthe credit were allowed); and
(c) Domestic corpoi ations deriving a large percent-
age of their gross income from sources within a
possession of the United States, 1928 through 1931.
* "Taxable income" is the amount to which the
tax rates are applied and is the balance of "Net in-
come" after deducting the credits as indicated on the
table and/or In the footnotes. The balance of "Net
income" subject to normal tax is indicated as "Nor-
mal-tax net income" for 1936, 1937, 1940, and 1941;
and as "Adjusted net income" for 1938 and 1939; the
balance of net income subject to surtax is called
"Undistributed net income" for 1936 and 1937, and
"Surtax net income" for 1941. The balance subject
to excess profits tax for 1940 and 1941 is the amount of
the "Excess profits net income" in excess of the
credits, etc.
"Net income" means the excess of gross income
over deductions as defined in the revenue acts. .
Certain variations in the deductions allowable,
follow:
(a) Dividends received from domestic corporations
(other than the dividends noted in the following
paragraph) are deductible prior to 1936 except for the
years 1913 through 1917. Beginning 1936, these divi-
dends are no longer a deduction in arriving at net
income, but 85 percent of such dividends are deducti-
ble as a credit in arriving at net income subject to
normal tax, with the further limitation for 1938 and
thereafter, that the credit for dividends received can-
not exceed 85 percent of the adjusted net income.
Dividends received from the following corporations
are not deductible: (1) Domestic corporations deriv-
ing a large percentage of their gross income from
sources within a possession of the United States, 1921
and subsequent years, (2) corporations organized
under the China Trade Act, 1922, (3) tax-exempt
corporations, 1932 and subsequent years, and (4)
foreign corporations {except that the dividends of
those foreign corporations receiving a certain amount
of income from sources within the United States,
1919 through 1933, were deductible).
Mutual investment companies arc not allowed to
deduct the credit for dividends received, but are
allowed to deduct the credit for dividends paid,
1936 and subsequent years. (See sec. 13 (a) (2) (3),
Revenue Act of 1936; and supplement Q, Internal
Revenue Code.) For deduction of dividends paid
on preferred stock, by certain incorporated banks
and insurance companies, to the United States or
to any instrumentality thereof which is exempt
from Federal income taxation, 1934 and subsequent
years, see sec. 121, Internal Revenue Code, which
section was added to the Revenue Act of 1934 by
Pubhc, No. 374, 74th Cong.
(,fi) Losses sustained by corporations during a
taxable year, not compensated for by insurance or
otherwise, are entirely deductible, except as indi-
cated in the following paragraphs:
For 1932 and 1933, losses from sales or exchanges of
stocks or bonds (other than capital assets and other
than bonds issued by a government or political sub-
aivision thereof) are allowed only to the extent of the
gains from such sales or exchanges. This limitation
Goes not apply to banks, trust companies, or dealers
in securities. (The Revenue Act of 1932 allowed the
excess of such losses to be can led forward and applied
against such gains of the next succeeding year, but
this carry-over was nullified by sec. 218 (b), National
Industrial Recovery Act.)
For 1934 through 1939, the deduction for losses
from sales or exchanges of capital assets (see fourth
paragraph below) is limited to the amount of the
capital gains plus $2,000 or to the amount of the
capital loss, whichever is less. This limitation does
not apply to los.ses sustained by certain banks and
trust companies on the sale of certain bonds, etc.,
but does obtain in regard to losses on stocks. For
taxable years beginning on and after January 1, 1940,
gains and losses from sales or exchanges of capital
assets are classified as "short-term" or "long-term."
For 1940 and 1941, a short-term capital gain or loss
results from the sale or exchange of a capital asset
held for 18 months or less; a long-term capital gain or
loss, from the sale or exchange of a capital asset held
for more than 18 months. A net short-term capital
gain and a net long-term capital gain or loss are
included in computing net income for the current
year; but a net short-term capital loss is not deduct-
ible in computing net income for the current year.
Such loss may be carried forward and treated as a
short-term capital less in the succeeding taxable
year, in an amount not in excess of the net income for
the year in which the loss was sustained. This
carry-over is restricted to one year.
(Footnotes continued on p. 313)
STATISTICS OF INCOME FOR 1941, PART 2
313
Footnotes for table A, synopsis of Federal tax laws — Coritinlied
(References to notes are to the footnotes of this synopsis)
For 1934 and theieafter, losses from wagering trans-
actions are allowed to the extent of the gain from
such transactions.
For 1937 and subsequent years, losses from sales or
exchanges of property (except in case of distributions
in liquidation) between two corporations, where
more than 50 percent in value of the outstanding
stock of each is owned by or for the same individual,
are disallowed if either one of such corporations is a
personal holding company or a foreign personal
holding company as defined in sees. 501 and 331,
respectively. Internal Revenue Code. (See also
sec. 24 (b), of the Code.)
Losses sustained by virtue of securities becoming
worthless during the taxable year are deductible,
1918 and thereafter. For 1938 and subsequent years,
such losses, if sustained through securities which are
capital assets becoming worthless during the taxable
year, are considered as losses from sales or exchanges
of capital assets, as of the last day of the taxable year
except as to certain banks sustaining losses through
worthless bonds. (See sec. 23 (g) and (k). Internal
Revenue Code.)
For 1932 and 1933, the term "Capital assets"
means property held for more than tuo years (whether
or not connected with trade or business) but does not
include stock in trade or other property of a kind
which would properly be included in inventory, or
property held primarily for sale in the course of trade
or business.
For 19.34 and subsequent years, "Capital assets"
include all property, whether or not connected with
trade or business, regardless of period held, except
stock in trade or other property of a kind which
would properly be included in inventory, or property
held primarily for sale to customers in the ordinary
course of trade or business; for 1938 and subsequent
years, except property used in trade or business of a
character which is subject to the allowance for depre-
ciation; and for 1941, except Government obligations
issued on or after Mar. 1, 1941 on a discount basis and
payable without interest at a fixed maturity date
not exceeding one year from date of issue.
(c) Net loss for prior year resulting from the oper-
ation of any trade or business regularly carried on by
the taxpayer: In the case of a net loss for any taxable
year beginning after Oct. 31, 1918, and ending prior
to Jan. 1, 1920, the Revenue Act of 1918 provides for
the deduction of such loss from the net income of the
preceding year, a redetermination of taxes for the
preceding year being made. When the net loss ex-
ceeds 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. There was
no relief provision for "net loss" incurred in 1920.
The Revenue Acts of 1921 through 1928 provide that
net loss in any year beginning after Dec. 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 first succeeding year, the amount of
such excess is to be allowed in the second succeeding
year.
A 1-year net loss carry-over for 1930 or 1931 was
provided by the Revenue Act of 1932, but this privi-
lege was entirely removed by sec. 218 (a). National
Industrial Recovery Act, effective Jan. 1, 1933.
There is no provision in the subsequent revenue acts
for the deduction of the prior year net loss until the
Revenue Act of 1939, which, in amending the Code,
provides that a net operating loss sustained in a
taxable year beginning on or after Jan. 1, 1939, may
be carried forward and applied with certain excep-
tions and limitations, against the normal tax net
income of the first succeeding taxable year, the excess,
if any, being deductible from the normal tax net
income of the second succeeding taxable year. This
provision is not applicable to: Mutual investment
companies, corporations improperly accumulating
surplus, or personal holding companies. It should
be noted that the net income as tabulated in Statistics
of Income is the net income for the current year, i. e.,
without benefit of the deduction due to prior year
loss.
(d) For 1936 and subsequent years, contributions
to certain organizations, trusts, chests, funds, etc.,
organized and operated exclusively for religious,
charitable, scientific, literary, or educational pur-
poses, are permitted as a deduction against the gross
income of corporations (including insurance com-
panies other than life or mutual, but excluding per-
sonal holding companies) if not in excess of 5 percent
of the net income before deducting such contribu-
tions. (See sec. 23(q), Revenue Act of 1936, and
Internal Revenue Code.) For deduction of con-
tributions by personal holding companies, see page
34 of this report and sec. S05(a) (2) , Internal Revenue
Code.
(e) Amortization of buildings, machinery, equip-
ment, or other facilities constructed or acquired on or
after Apr. 6, 1917, for the production of articles con-
tributing to the prosecution of the war, is included to
a reasonable amount in business deductions for any
taxable year ending before March 3, 1924. (See sec.
234(a)(8), Revenue Act of 1921.) The Second Rev-
enue Act of 1940, in amending the Code, adds section
,124, which provides for amortization of the cost of
emergency facilities completed or acquired after
June 10, 1940, and necessary for national defense, to
be written off, subject to certain qualifications and
limitations, over a 5-year period instead of through
the ordinary depreciation and obsolescence deduc-
tions based on estimated useful life.
(/) For deductions allowable to insurance com-
panies, see special provisions in the various revenue
•acts; also note 13, p. 234.
5 There was no provision for excess-profits tax, 1909
through 1916, and 1922 through 1932.
8 While any corporation with net income of less
than $3,000 is exempt from tax, the specific exemption
of $3,000 is not allowable to foreign corporations with
net income of $3,000 or more, nor is such exemption
allowable, for 1921, to domestic corporations deriving
a large percentage of their gross income from sources
within a possession of the United States.
' "Invested capital" within the meaning of the
statute is the capital actually paid in to the corpora-
tion by the stockholders, plus the earned surplus
and/or undivided profits (exclusive of profits for the
current year) and exclusive of inadmissible assets as
defined in the revenue acts. (See sec. 207, Revenue
Act of 1917, and sees. 325 and 326, Revenue Act of
1918.) For 1917, foreign corporations reported that
proportion of invested capital which net tucome
from sources within the United States was of the en-
tire net tacome. For 1918 through 1921, it was not
necessary for foreign corporations to report invested
capital, and for 1921, it was not necessary for corpo-
rations deriving a large percentage of their gross
income from sources within a possession of the United
States to report invested capital. (See note 8.)
8 The war-profits and excess-profits taxes of foreign
corporations, 1918 through 1921, and of corporations
deriving a large percentage of their gross income from
sources within a possession of the United States for
1921, are computed by comparison with representa-/
five corporations whose invested capital can be satis-
factorily determined and which are engaged in a like
or similar trade or business and similarly circum-
stanced. (See note 7, above, and sec. 328, Revenue
Acts of 1918 and 1921.)
• Provided that the sum of the excess-profits tax
and the war-profits tax for 1918 shall not be more
than 30 percent of the net mcome in excess of $3,000
and not in excess of $20,000, plus 80 percent of the net
income in excess of $20,000. (See sec. 302, Revenue
Act of 1918.)
I" Foreign corporations were not allowed to deduct
income taxes paid to foreign countries either as a tax
credit or in general deductions, 1918 through 1920.
(See notes 14 and 18.)
(Footnotes continued on p. 314)
314 STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for table A, synopsis of Federal tax laws — Continued
(References to notes are to the footnotes of this synopsis)
11 The Revenue Act of 1918 provides that if a "In addition to the excess-profits tax shown in
pnrnnration was not in existence during the whole this tabulation, other provisions of the National
nf at ipast one calendar year during the pre-war Industrial Recovery Act affecting data m Statistics
period, the credit (with certain exceptions) shall be of Income are set forth in notes 4 (6) and (c) and 17.
the suin of $3,000 and an amount equal to the same jo Net income subject to (declared value) excess-
percentage of invested capital (see note 8) for tne pj-Qfltg tax, for 1934 and subsequent years, mcludes
taxable year as the average percentage of net income partially tax-exempt interest on Government obli-
to invested capital, for the pre-war period of repre- gations to the extent that such interest is required
sentative corporations, but such amount snail not to be included in gross income. For 1936 and subse-
be less than 10 percent of the invested capital of the q^ent years, a credit against the net income for
taxpayer for the taxable year. excess-profits tax computation is allowed, equal to
• J .M- <- tu * the credit for dividends received provided in sec.
12 The Revenue Act of 1918 provides that tne tax ^ ^^^ Revenue Act of 1936, and Internal Revenue
for 1919 through 1921 shall not be more than 20 per- q^^^^
cent of the net income in excess of f ,000 and not in ^^ excess-profits tax under the provisions of the
excess of $20,000, plus 40 percent of the net mcome in ^^^^^^^ ^^^ ^^ ^935 ^^ amended by the Revenue
excess of $20,000. j^e^ of ^935 jg ^ effect for returns with fiscal years
13 The Revenue Act of 1918 provides that the ending through June 30, 1938.
tax shall be such a proportion of a tax computed 22 "Normal tax net income" is net income for ex-
at the rates for 1918, using the excess-profits and the cess-profits tax computation less (1) declared value
war-profits credits applicable to that year, as the excess-profits tax, (2) credit for interest received on
Dortwn of the net income attributable to Govern- obligations issued after Sept. 1, 1917, and before Mar.
ment contracts bears to the entire net income, plus 1, 1941, by the United States or any instrumentality
such a proportion of a tax computed at the rates for thereof (other than Treasury notes of the National
the current year (1919, 1920, or 1921) as the amount of Defense Series) to the extent that such interest is re-
the remaining net income bears to the entire net quired to be included in gross income, and (3) credit
i^gQUje for dividends received from domestic corporations
■ subject to tax. For 1941 there is also allowed as a
H (a) For 1921 and subsequent years, the credit credit the amount of excess-profits tax levied under
cannot exceed the proportion of the total tax against the Second Revenue Act of 1940. Mutual invest-
which the credit is taken, that the taxpayer's net ment companies may claim a credit for dividends
income from sources without the United States bears paid in lieu of the credit for dividends received,
to the entire net income. o^„„„t nf ^nnnTr^P " Certain corporations are taxable at the following
(6) For 1921 through 1931. the amount of income ^^^ ^^^^1 regardless of the size of net income:
and profits taxes paid to foreign countries or unitea >=•
States possessions, in excess of that deducted as a tax ■
credit, is permitted to be included in deductions
against gross income. . ,i * /in
(c) The credit against tax is not allowable to (1)
foreign corporations, (2) domestic corporations de-
riving a large percentage of their gross income from
sources within a possession of the United States, (3)
China Trade Act corporations, (4) Personal holding ^
companies, and (5) begmmng with 1940 corporations ^^^ ^ substantial
improperly accumulating surplus; but to these cor- ^ '. . . .
porations, such foreign taxes are allowable as a de-
duction from gross income, provided that m the case
of (1) (2), or (3) above, the tax is imposed upon
income from sources within the United States.
Class of corporation
16 For 1925 through 1927, income of domestic in
part of the business
of which is receiving
deposits and making
loans and discounts-
Corporations organized
under China Trade
Act, 1922
surance companies, exclusive of mutual companies Corporations' deriving
other than life, is taxable at 12J^ percent
16 The rate for 1929 provided by the Revenue Act
of 1928 was reduced to U percent by jofnt resolution
of Congress No. 133, approved by the President
Dec. 16, 1929.
a large percentage of
their gross income
from Sources within
a possession of the
United States
Foreign corporations:
Resident
Nonresident •>
193fr-37
1938-39
1940 32
rate
rate
rate
(per-
(per-
(per-
cent)
cent)
cent)
15
16^
("■)
15
WA
i")
15
im
(")
22
19
24
15
15
16'^
15
WA
(")
(<■)
leH
24
1941
rate
(per-
cent)
(-)
("■)
(°)
24
27!^
(")
24
1' The rate of income tax for consolidated returns, ^^ umc^iuci^i, -
1932 and 1933, is 14^ percent, except for returns wjth insurance companies"/,
fiscal year ending in 1934, on which the tax attnbut- -^^^^^^^l investment
able to 1934 is at the rate pf UH percent (See sec companies
218(e) National Industrial Recovery Act.) The ^
rate of income tax for consolidated returns with tax-
able year beginning on or after Jan 1, 1934, is 15/i „ g^^^^ ^^ ordinary corporations (see pp. 308, 310).
percent. (The National Industrial Recovery Act ^ -^^^^^ j^j. nonresident foreign corporations are not
provided a rate of 15J^ percent, but this was super- included in this report. For rates applicable to cor-
seded by the Revenue Act of 1934, whicb provided porations organized under the laws of certain foreign
" ■ ' ' countries, see the Code and Regulations.
2* To determine the "Undistributed net income"
lb% percent.)
18 For 1932 and subsequent years, domestic cor-
porations (other than those described in note 14(c))
may elect (1) to credit against the income tax lia-
bility to the United States, the income and profits
taxes paid to foreign countries or United States pos-
spssions the credit to be limited as described in note
14(a\ of (2) to include the entire amount of such to excess-profits tax and certain ci
taxes' in deductions from gross income. The proce- holding company at .hates and to n
dure regarding the corporations described in note associations. This :;Adjusted net.
14(c) remains unchanged. See note 37
subject to surtax for 1936 and 1937, it is first necessary
to determine the "Adjusted net income" which is
net income for excess-profits tax computation less the
sum of the excess-profits tax, normal tax, interest
received on certain Government obligations subject
to excess-profits tax, and certain credits allowed to
"■ ■ ' " ■ national mortgage
_ income" less the
dividends paid credit and the credit for contracts re-
(Footnotes continued on p. 315)
STATISTICS OF INCOME FOR 1941, PART 2
315
Footnotes for table A, synopsis of Federal tax laws — Continued
(References to notes are to the footnotes of this synopsis)
stricting the payments of dividends becomes tlie
"Undistributed net income." The undistributed
profits tax rates for corporations filing returns for
fiscal years beginning in 1937 and ending in 1938 are
those provided by the Revenue Act of 1936. The
following corporations arc not subject to the surtax
on undLstributed profits: (1) Banks, (2) domestic
corporations which for any portion of the taxable
year are in bankruptcy, (3) insurance companies,
(4) foreign corporations, (5) corporations deriving a
large percentage of their gross income from sources
within a possession of the United States, (6) corpora-
tions organized under the China Trade Act, 1922,
(8) joint-stock land banks.
26 When the "Adjusted net income" for 1936 and
1937 is less than $50,000, a specific credit is allowed.
26 The Revenue Act of 1937 is not a complete taxing
statute in itself, but merely amends and adds to
certain provisions of the Revenue Act of 1936, espe-
cially those pertaining to surtax on personal holding
companies. (See note 40.)
2' "Adjusted net income" for 1938 and 1939 means
net income (after deducting the declared value excess-
profits tax) minus the credit for interest received
on certain obligations of the United States and
Government corporations. This "Adjusted net
income" less the "Dividends received credit" is the
amount subject to income tax.
28 Except that on dividends received the tax is 12
percent for 1938 and 1939.
21' The tentative tax, 19 percent of "Adjusted net
income" is reduced by 16}.^ percent of the "Divi-
dends received credit" and 2},i percent of the "Divi-
dends paid credit," except for certain corporations —
those in bankruptcy and receivership, joint-stock
land banks, and rental housing corporations— for
which the 19 percent tax is reduced by 2H percent of
"Adjusted net income." (See note 27.) The in-
come tax rates for corporations filing returns for fiscal
years beginning in 1937 and ending in 1938 are those
provided by the Revenue Act of 1936.
30 The Internal Revenue Code, approved Feb. 10,
1939, which was enacted as law, codified certain
general laws of the United States and parts of such
laws relating exclusively to internal revenue, in force
on Jan. 2, 1939, and repealed all such laws and parts
of laws codified therein to the extent that they related
exclusively to internal revenue, as of the effective
dates of the respective corresponding provisions of
the Code.
3> The Revenue Act of 1939 is not a complete taxing
statute in itself, but consists of amendments of cer-
tain sections of the Internal Revenue Code, and of
the 1938 Act and prior laws. There is no one effec-
tive date for the Revenue Act of 1939; some of the
provisions are retroactive to years prior to 1939;
others apply to the current tax period, while still
others are effective only for taxable years beginning
after Dec. 31, 1939. The rates of tax provided by the
Revenue Act of 1939 were never in effect, being super-
seded by those of the Revenue Acts of 1940.
32 Includes defense tax rates, which, for income
defense tax on returns with taxable year beginning
after Dec. 31, 1939, is 10 percent of the rates provided
by the first Revenue Act of 1940; and for declared
value excess-profits defense tax on returns with tax-
able years ending after June 30, 1940, is 10 percent of
the declared value excess-profits tax rates for 1940.
33 The Revenue Acts of 1940 and 1941 are not com-
plete taxing statutes in themselves, but consist of
amendments to the Internal Revenue Code.
34 Section 710 of the Code, added by the Second
Revenue Act of 1940, imposes an excess profits tax in
addition to the declared value excess-profits tax
which has been in effect since June 30, 1933.
35 For description of base period net income and
invested capital for 1940, see Statistics of Income for
1940, Part 2, pp. 22-24; for 1941, see facsimile of Form
1121, pp. 339-.348 of this report. For invested capital
of foreign corporations and corporations receiving a
large percentage of their gross income from sources
within a possession of the United States, see sec. 724
of the Code, added by the Second Revenue Act of
1940.
38 (a) Excess profits net income computed under
income credit method, for 1940, is normal tax net
income (described in note 22) plus net long-term
capital loss and minus the sum of:
(1) Income and income defense taxes.
(2) Net long-term capital gain.
(3) Net gain from sale or exchange of depreciable
property held more than 18 months.
(4) Income from retirement or discharge of bonds,
etc.
(5) Refunds and interest on Agricultural Adjust-
ment Act taxes.
(6) Recoveries of bad debts.
(7) Dividends received credit adjustment.
(8) Abnormal income attributable to other years.
Excess profits net income computed under the
income credit method, for 1941, is the same as above
except that item (1) above is not deductible, and
additional charitable deductions are allowable.
The starting point in the computation of excess
profits net income for 1941 remains the normal-tax
net income computed without deduction of excess
profits tax.
(6) Excess profits net income computed under
invested capital credit method, for 1940 and 1941, is
the excess profits net income as computed in (a)
above plus (1) 50 percent of interest on borrowed
capital and (2) interest, on Government obligations;
and less the dividends received credit adjustment.
(See Code, sec. 711, added by the Second Revenue
Act of 1940.)
3' For 1940 and thereafter the amount of taxes paid
to foreign countries or United States possessions not
allowable as a credit against income tax is allowable
as a credit against the excess profits tax on Form 1121,
subject to the limitations provided by section 729 (c)
and (d) of the Code.
38 Surtax net income is greater than normal-tax
net income (see note 22) by the amount of interest
received on certain obligations of the United States
and its instrumentalities issued prior to Mar. 1, 1941.
Mutual investment companies are subject to surtax
on their Supplement Q surtax net income at the
rates shown in table A. (See sec. 104, Revenue
Act of 1941.)
(Footnotes continued on p. 316)
316
STATISTICS OF INCOME FOR 1941, PART 2
Footnotes for table A, synopsis of Federal tax laws — Continued
(References to notes are to the footnotes of this synopsis)
<" Rates of surtax on personal holding companies <
Federal
tax law-
In-
come
year
Taxable income
Rate
(per-
cent)
Revenue Act of:
1934
fl934
ll935
1936
1937
1938
1939
Il940
[1941
\First $100,000
/Exceeding $100,000.-
f First $2,000 .
30
40
8
1936
1937
1938
Next $98,000
Next $400,000
Next $500,000
Exceeding $1,000,000-
First $2,000 -
18
28
38
48
65
Internal Reve-
nue Code.
Code as amend-
ed by Rev-
Exceeding $2,000
\ First $2,000
75
'71.5
enue Acts of
1940 and 1941.
/Exceeding $2,000
'82.5
• For definition of a personal holding company
see p. 33 of this report and sec. 501, Internal Revenue
Code. A foreign personal holding company, with
taxable year ending after August 26, 1937 (the effec-
tive date of the Revenue Act of 1937), is not taxed
as such, but its undistributed net income is to be
included in the gross income of its United States
shareholders. (See sec. 337, Revenue Act of 1937
and Internal Revenue Code.)
The taxable income of a personal holding company
is: "Undistributed adjusted net income" for 1934
through 1937; "Undistributed Title lA net income"
for 1938; and "Undistributed subchapter A net in-
come" for 1939-1941. For computation of undis-
tributed subchapter A net income for 1941, see p. 34
of this report, also sections 504 and 505 of the Co-.le.
"i Thase rates include the 10 percent defense tax
increase for 1940 which was incorporated into the rate
schedule for 1941.
<" A corporation which permitted an unreasonable
accumulation of profits, although subject to all war-
profits and excess-profits taxes, was not subject to the
ordinary corporation income tax for 1913 through
1920, but the individual stockholders were taxed
upon their proportionate shares of its net income,
whether distributed or not. For 1917, there was also
a penalty tax of 10 percent upon that portion of the
total net income remaining undistributed six months
after the close of the taxable year, in excess of the in-
come actually employed in the business, or invested
in obligations of the United States issued after Sep-
tember 1, 1917.
For 1921 and thereafter, there was a penalty tax, in
addition to the ordinary corporation income and
profits taxes, imposed upon the taxable net income
of a corporation where it was shown that there had
been an evasion of surtax as a result nf an unreason-
able accumulation of profits. The rate of this addi-
tional tax was 25 percent for 1921 through 1923. It
was increased to 50 percent for the years 1924 through
1933, and to the rates shown in the table below for 1934
through 1939, with the provision tor 1926 through
1937 that the additional tax shall not apply if all the
shareholders of the corporation include in their gross
income their pro rata shares, whether distributed
or not, of the retained net income of the corporation
for such year, with the added provision for 1936
and 1937 that 90 percent or more of such retained net
income be included in the sross income of share-
holders other than corporations. For 1938 and there-
after this provision for shareholder's payment of sur-
tax on pro rata shares is replaced by the "Consent
dividends credit." (See sec. 102, Revenue Act of
1936 and Internal Revenue Code.) The rates of tax
on corporations improperly accumulating surplus
(other than personal holding companies) for the years
subsequent to 1933 follow:
Rates of surtax on corporations improperly accumulating surplus
Federal tax law-
Income
year
Taxable income
Rate
(percent)
Revenue Act of:
1934...
1936
1938
Internal Revenue
Code.
Code as amended
by Revenue Acts
of 1940 and 1941.
1934, 1935
1936, 1937
1938-
1939.
1940, 1941
Adjusted net income:
Less than or equaling $100,000
In excess of.... 100,000
Retained net income:
Less than or equaling $100,000
In excess of.... 100, 000
I Less than or equaling $100,000
I In excess of - 100,000
Less than or equaling.. $100,000
In excess of.... 100,000
o 15
'■25
''27.5
»38.6
» For corporations not subject to the surtax on un-
distributed profits, these rates are 25 and 35 percent.
(See sec. 102, Revenue Act of 1936.)
'' These rates include the defense tax increase for
1940 which was incorporated into the rate schedule m
for 1941. -*
STATISTICS OF INCOME FOR 1941, PART 2
317
61
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318
STATISTICS OF INCOME FOR 1941, PART 2
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STATISTICS OF INCOME FOR 1941, PART 2
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STATISTICS OF INCOME FOR 1941, PART 2
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RETURN FORMS FOR 1941
Form 1120:
Form 1120L:
Form 1121:
FACSIMILES OF
Corporation income and declared value excess-profits
tax return.
Insurance company income tax return.
Corporation excess profits tax return.
Form 1 120H: Return of personal holding company.
323
324
STATISTICS OF INCOME FOR 1941, pART 2
Form 1J20
Tnasoiy Depajteunl
hlmu! RcTciuK Service
UNITED STATES "^ '
CORPORATION INCOME AND DECLARED VALUE EXCESS-PROFITS TAX RETURN 1941
IK
For Calendar Year 1941
or fiscal year bepEnng ,1941, and esding. _ .,1942
HI.
Cod.....
PRXNT PLAINLY COHTOIUTION'S HAM£ AMD AOORCS3
S«ul
No.
(><>—>
DuOrid
{CmIm.-. ,to_ri
(StJMtudminW)
(?*.!•*«) <CmoIt> tSlal.)
Cuh ClMok M.a
Btuinesi group wriJ n-jatwr {from IiutnKtion N) _..
« _
rfORMAL-TAX NET INCOME COMPUTATION
Imir^yi.oo No. GROSS INCOME
1. Gross sales (where inventories aro Less: Retur
an iucome-cetermining fartor) S ; allowance;
2. I-ess: Cost of gooda sold. (From Schedule A) „ .
8. Cross profit from sales
4. Gross reccipta (where inventories nre not an income-detennimcg factor).
6. Less: Cost of operations. (From Schedule B)
6. Croc3 pro6t where invenloricg are not an income-determining factor
7. Interest on loans, notes, mortgages, bonds, bank deposits, etc ._
8. (a) Interest on certain o'jligations of the Unit^-d States issued prior to March I, 1941. (From
Schedule iM, line 15 (o) {&)) , „ _
(b) Interest on Treasury Notes of the Nritional Defense Series and obligations issued on or after March
1, 194 1, by the United States or any agency or instrumentality thereof. (Submit schedule)
10. Royalties.-^ ^
II. (a) Net short-term capital gain. (From Schedule C)
(b) Net long-t<rtn capital gain (or loss). (From Schedule 0)
(c) Net gain (or loss) from sale or exchange of property other than capital assets. (From Schedule
12. Dividends. (
13. Other income.
14. Total i
rom Schedule E)„
(SUtc nature)
3-profits and excess profits taxes as items
1 item^s 3, and 6 to 13, inclusive
DEDUCTIONS
15. Compensation of ofTiccrs. (From Schedule F)
16. Salaries and wages (not deducted elsewhere)—-™
J8. lUpaira.
19. Bad debts. (From Schedule G)
20. Interest _
21. Taxes. (From Schedule H) (Deduct declared value execs
33 and 35) _
22. Contributions or gifts paid. (From Schedule I)
23. Losses by fire, storm, shipwreck, or other casualty, or theft. (Submit schedule)-..
24. Depreciation. (From Schedule J) _.
25. Deplelion of mines, oil and gas wells, timber, etc. (Submit schedule) „
26. Net operating loss deduction. (Submit etatement) -
27. Amortization. (Submit schedule) _ _ _
28. Other deductions authorized by law. (From Schedule K).„ „
29. ToUl deductions in items 15 to 28, inclusive™
30. Net income for declared value excess-profits tax conlputBtion (item 14 minus item 29) _
31. Add: Interest on obligations of certain instrumentalities of the Vnitcd States issued prior to March 1, 1041. (Froi
Schedule M, line 15 (a) (G)) _
32. Total of lines 30 and 31 _ .-
33. Less: Declared value excess-profits tax._ _ _
34. Net income for capital slock tax purposes. _ „ _ _
85. Less: Excess proGta tax ^
36. Net i
total of lines
38. Adjusted net income
39. Lc6s: Dividends r
40. Normal-tax net incom
:ived credit (85 percent of column 2, Schedule E, but not i:
9 of 85 percent of item 38, above) ..
TOTAL INCOME AND DECLARED VALUE EXCESS-PROFITS TAXES
(line 33. page 2).
41. Total in.
42- Less: Cr^rlit for income taxes paid to a foreign country or United Slates possession alli
a domruvtic corporation ,
43. Balance of income tax
44. Total declared value escc&s-profits tax Oiac S, page 2)
45. Total income and declared value exccsw-profilB taxes duo
AFFIDAVIT. (See Instruction E)
We, the undersigned, president (or vice president, or other principal oliicer) and treasurer (or aasista
•orporation for which this return is made, beinc; severally duly sworn, each for himself deposes and aay^
Bohedulea and Htalr>mcnt«) has been examined by him and is, to the btst of hid knowledge and belief, a true, cc
for the tar.able year stated, jiursuant to the Internal Kcvcnuo Code and the regulations issued thereunder.
unting ofRccr) of the
, made in good faith.
Subncrilxxl and i
» this
, 10».
iclpol offloor) (Slate tlU«>
(SiCD»lur» ol gOlew kdmlnliterlag o«Ui)
Uot TrtMunr, or CMcl
ISinic kllU:
AFFIDAVIT. (S«» In.tructton E)
)/wn fiwcQr (or affirm) (hat I/wo prepared this return for th<> prrnon named herein and that the return (Including any accompanying i>cbf>>duliM and
•CatementM) \n a true, correct, and complete statement of all the iuformaliou rcBi>ecting the tax UabiLity of the person for whom this return has been prepared
of which I/wo Itave any knowledge.
Subscribed osd sworn to bcfor« ms this day of ... .
(aicoatun of prnoD praptiiiv tbs reluni)
(Slcnaiu/* ot ofllMt MlmlolfUrlDi
(SlgiuUirc of ptnoa prapvlat Ui« rotui
STATISTICS OF INCOME FOR 1941, PART 2
325
DECLARED VALUE EXCESS-PROFITS TAX COMPUTATION. (S— CompuUUon Imtruetloin)
Line No.
1. Net iocome for declared value e^cess-proSta taz computatic
Value of capital stock aa declared in your cnpital etock t
r ended
1 1941 and ended
for tbe year ended Ju
, if your income I
rafter July 31, 1942)..
10 percent of line 2..
4. DividcDds r
but E
llj-
fi. Balance subject to declared vcJuo excess-profits taz Oine 1
6. Amotiut taxable at 6.6 percent (5 percent of line 2, but noi
7. Balance ta.'cablc at 13.2 percent (line 5 minus line 6, colum
8. - Total declared value excces-profita (ax (total of line
oinus total of lines 3 and 4)
more tliao line 5) ; sod tax
1); and tax
I, column 3, and line 7, column
I
INCOME TAX COMPUTATION.
(Se« Computatio
n Instructiona)
DoBiulk eorp<>r.tk>a« -ith oorm^.tu [.cl k>comu ol Um ihu »U^«^
s
S
15%
17%
19%
10. Portion of line fl (not in excess of £5,000) ; and
Bt 17 percent
12. Portion of line 9 (in excess of $20,000 and not in excess of 825,000); and ta
19 cent
- -
13. Portion of line 9 (in excess of $25,000); and ta
14. Total normal tax (total tax in column 3
37%
of lines 10. 11, 12, and 13)
s
Veilti Stita irru^lin' eJ .nwi^ •! ■mul.lu cxI ioMUM
$. -
s 1
24%
16. Normal tax (24 percent of line 15) - -
SURTU COMPUTATION
S-
6%
7%
li Leas: Dividends received credit (85 percent of oolumn 2, Schedule E, but not in ex-
20. Portion of line 19 (not in excess of $25,000); an
21. Portion of line 19 (in excess of $25,000); and ta
d tax at 6 ercent
Jiat7 ercent
es 20 and 21)
s
$
23. Adjusted net income (computed without net operating loss deduction) (item 38, page 1,
24%
6%
7%
s 1
27, Net income ("computed without net operating loss deduction) (item 36, page 1, plug
s
'i
' ^^ f I- ■ *" OQ f f ■ Me AOm ^ + f R r^anf
31. Portion of line 29 (in e=ccss of $25,000) ; and U
32. Total surtax (total Lax in column 3 of 1
□csSOand 31) — -
s
33. Total normal tax and surtax (line 14, 16. or 26 plus line 22 or 32, whichever is applicable)
s
Schedule A.— COST OF GOODS SOLD. (S^Jnatruction 2)
Sch«lul6 B.— COST OF OPEliATIONS
Inventory at beginning of year ~
Material or merchandise bought for manufacture
^
Salaries and wagea _ _.
Otber costa (to be detailed):
Other coete per books. (Attach itemized schedule)...
W -
Cost of goods sold (enter as item 2 page 1 ) ..
S -.-
ToUl (enter aa item 6, page I) _
$. -
—
Schedule C— CAPITAL CAINS AND LOSSES. (See h
IptloD of Property i. Date Aoqulred "(Coni
u CoatorOLlier Ba:;Is
Total net short-teml capital gain (or loss) for the taxable year (no net loaa allowable)-
Net short-term capital loss of precr'tling taxable year (r
term capital gain in column 7)
Total net short-'term capital gain for loss). (En;
3 for such year). (Deduct rrom total det short-
1 11 (a), page 1, amount of gain. No net loss allowable)-
> LOSSES— ASSETS HELD f
lin (or loss). (Ent«
Schedule D.— GAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY OTHER THAN CAPITAL ASSETS. (See InatructJon H)
.r^^.^.
2. Date Acquired
S. Oran Salo Prin
(Cooirtrt prtoB)
i. CortorOtberDasIs
Cost or loj prove IOC oU
C, Depr«lniloD Allowed
'rHsSS's'
S. _
s :
s _..
S
Total net pain (or loss). fEntcr as item 11 (e), page !)._ - —
$.
...._
Supplemental informntion required for Schedules C and D
ipeet to each item of property reported in Schedules C and D: (1) how property was acquired - _ -
le of sale or exchange (a) purclia-er owned directly or indirectly more than 50 percent in value of your outstanding stock, (6) where
:han 50 percent in vuluc of its capital stock and 50 percent in value of your capital stock was owned directly or indirectly
r for the same individual or bia family, and (f) where purchaser was a corporation, whether more than 60 percent in value of its capital stock was owued
directly or Indirectly by you If bo, state name and address of purchaser ,
State w
(2) whether
purchaser wa" a corporati
326
STATISTICS OF INCOME FOR 1941, PART 2
Sch«duU E.— INCOME FROM DIVIDENDS
rmnm
.M^
TUBhIe imder cE*pUJ 1,
Inwrn*) Revonuo Cod»
.0.
Br Corpontlocj
s.
* --
.._..
S.— _....
S_ - -_
s.
s
Total of columns 2,
i, and 4.
(Enter as item 12, page 1)
s
BDoeCtxlB, whkb dividends (hou Id
Schedule F.— COMPENSATION OF OFFICERS
'■HtlSS"^
PerwDtAra of Corporal Ion 'j
Stock Owned
fl.An,oan.of
4. ComiDOD
6.r«(en«l
r- t n
$
Total compensation of officers. (Enter as item 15, page I).
Note. — Schedule F-1 CIN DUPLICATE) also must be filed with thia return if compensation in excess of S75.000 was paid to any officer or employee.
Schedule
G.—
BAD DEBTS. (See In.truction 19) (See
not.
1)
LTnabhYea
I. Ket Income Keport«l
3. SalMonAwcunt
iSS
U Corporation Carries a Reserve—
^^-.T^\'''^
'■A^
ntChftrred
$.
s. .
s----
1041.
(See rote 2)
'''
1. Check whether deduction claimed represents worthlesa debt« charged off □, or is an addition to a reserve D.
2. Not including eecurities which are capital aaeeta ascertained to be *vorttiless and charged off within the taxable year. Such securities charged off"
within tJic year covered by this return should be reported in Schedule C.
Schedule H.— TAXES. (See In.truclion 21)
Schedule I.— CONTRIBUTIONS OR GIFTS PAID. (See Initructlon 22)
N.,„,.
*""■
Name ood Address or OrEinliatloD Amount
1
Total. (Enter aa item 21, page 1).._
Total. (Enter aa item 22, page 1, subject to
5 perccntlimitationl. (See Instruction 22).
Schedule J.— DEPRECIATION.
(See Inatru
ction
24)
materlaJ o/wLleli eonatrueu^l)
Acqnlix^
3. Co.t or Olher
(Do noltolide laod
4- As,«eu yuiiT r*-
preeiaied In Uae at
Years
BoKcooTered
tS-
£s
^o«.^^
$-._
5
.
1
1
1
=F=
-
—
.::; ;.: i !
:::::::::::::i::::;::j::::::::
Total. (Enter aa item 24 page 1) _
.- i $_
Schedule K.— OTHER DEDUCTIONS. (See Instruction 28)
!
QUESTIONS
1. Dat« of Incorporation
, Statfi or country .
3. State coUcctor'a office where the corporatioi
year was filed _ .„.
4. Tbe corporation '« books aro Id care of
I for the preceding
Located at „
5. Numbrr of placns of busfnr-w
6. Was the corrKiration during the taxable year engaged in
of fiwiliiiij.i for Dational defennc through Govcrnmoi
mi brof) tracts?
7. la the corporation a pcrsonol holding company within tho
Bcction 501 of the Internal nfvcnuo Cmlc? (If
tional return on Form 1120 H must bo filed.)
S. Is this a consolidated i
trade corporatio:
1 of roilrood corporations or Pan-American
(If flo, procure from the collector of
lDl«rniri revenue for your district Form 851, Affiliations Schedule,
which shall bo fliled in, iworn lo, and filed a^ a pari of thi.i return.)
». If this is not a coniolldated mturn of rnllroad corpomli
* " icrlcftn trodf corporatli
, (1) did
taxablo year 60 pcrccn
porotlon cither domenlic or foreign? .
lion, individual, nartnemhip, trunt,
during the taxable year 60 percent
..„ (If i-ither answer Is "yes,'
did vou own af. ony liinc during tho
of llio voting fltoclt of nnolhcr car-
: or (fc) d[d uny rorporn-
muro of your voting ntock?
Ksrh separate schedule show-
ing: (I) Name and address; (2) percentage of stock owned; (3) dale
block was acquired; and (4) the collector's office in which the Income
tax return of snrh corporation, individual, partnership, trust, or as»:o-
ciation for tho last taxable year wa.s filnd.)
10. la Ibis reluro mudo on tho hasia of caah receipts and diaburaementa?
If not, describe fully what other basis or melhod was used
In computing net income .^ ^
11. If answer lo Question 10 is "yc^," do you elect unrler cecf
current and prior years in redcmpli
cbligations ittaued ot a discount?
ting oblifiationa owned and computatioi
Ileport Kueh
12. Steito whether Iho in^
year were valued
otvncd
?ritories at ttio beginning and i
why used, and tho date i
market, whichever Is lower
)lhcr basin fa uaed, describe
itory was last reconciled with
13. Did the corporatloi) make t
1000 for llio calendar yen
iDBtructlon K-(3).)
return of informntlon on Forms lODO and
1011 («oe Instruction G-fl))? _...
r fa "yes," attach stnlcment aj rtiulrcd by
STATISTICS OF INCOME FOR 1941, PART 2
327
Psc 4 Schedulo L.— BALANCE SHEETS.
Sea InBtructton L>
ruable Year i End of Tu.ble Ymi
ASSETS
Ammtnt
ToUl 1 kmiool
Toul
S.. - . _..
$..-
s
, . , , ^^^^^
,
_
4. iDveatments (Govertiment obligations):
(a) State. Territory, or political subdivisioQ thereof, or the
Diatrict of Colombia, or United Stales possessiooa
S _ - . ..
(c) InstnuDentalities of the United States (issued prior lo
(d) United States or agency or instrumentality thereof
$-
-.„..
S- _
6. Capital ttsEeta:
...
S-
i.
L ^ R r H >t"n
(J) Depletable asseta..
^ --
•■--
$
--
s. _
$
s
s
LIABILITIES
S . .
10. Bonds, notea, and mortgages payable:
(a) With original maturity of less than 1 year
s
s^
--
TM-
s
. .
urp
14. Capital stock:
s.
$
15. Paid-in or capital surplus , . __„___
17. Total Liabilities _
s
$ -..
—
Schedule M.— RECONCILIATION OF NET INCOME AND ANALYSIS OF EARNED SURPLUS AND UNDIVIDED PROFITS
(6) Stock of thfe corporation—
(c) Other property..
2. Contributions (excess ov
: 5 percent limiba-
3. Federal Income taxes.
4. Income taxes claimed as a credit
part in item 42. page 1
6. Federal taxes paid
6. Excess of Bbort>term capital losses over short-
term capital gains
7. Additions to surplus reserves (list eeparately):
8. Other unallowable deductions:
not recorded oo books (itemize) :
10. Sundry debits to earned surplus (itemize):
13. Earned surplus and undivided proBts at close
of preceding taxable year (Schedule L)
14. Adjusted net income (item 3S, page 1)
15. Nontaxable and partially exempt income:
(a) Interest on:
(1) Obligations of a State, Territory, or
political subdivision thereof, or the District of
Columbia, or United States pos.ses.sions
(2) Obligations of the United States issued on
or before Sept. 1, 1917; Treasury notes. Treasury'
■ "■ "" ' i of indebtedness
(3) Obligations issued prior to March 1, 1941.
55,000 issued prior to March 1, 1941
(6) Obligations of iDPtrumenlalities of the
United Slates (other than obligations to be
reported in (3) at>ove) issued prior to March
16. Charges against eurplus reser\'e3 (itemi
17. Adjustments not recorded on books (item
18. Sundry credits to earned surplus (itemize):
Total of lines 13 to 18
■ for Form 1121)
(o) la ao excess profits tji.T return on Form 1121 being filed for the taxable period covered by this return?
(6) A corporation joining in (he making of a consolidated excess profits tax return should indicate below the name and address of the corporation which iafiline
the consolidated excess profits tax return for the entire affiliated group, and the collector'a office in which the consolidated return is being filed
(e) If a pereonal service corporation signifies below its defiire not to be subject to the excess
of Supplement S, Chapter 1, shall apply to the shareholders in such corporation who v
corporation. (Attach Form 1121PS.) .
[ and the provisions
1 under section 727_>3f the Internal Revenue Code, state basis of claim „
I an excess profits tax return is not being filed for the reftaoa that it is claimed that the excess profits net income computed under the invested capital
method is not greater than $5,000, the following Schedule N should be filled in. The completion of Schedule N does not constitute the filing of an
9 profita tax r
Schedule N.— EXCESS PROFITS NET INCOME COMPUTATION
1. Normal-tax net income (computed without
deduction of excess profits tax)
2. 50 percent of interest on borrowed capital
3. Net long-term capital loss (item 11 (6), page 1).
4. Total of lines 1 to 3
6. Dividends received credit adjustment (item
12, page 1, e:^ciuding dividends received
from foreign personal holding companies,
minus item 39, page 1) •
6, Additional charitable, etc.^ deductions —
7. Net !ong-term capital gain Citem U [b), page 1),
8. Net gain from sale or exchange of depreciable
property held more than 18 months
9, Income from retirement of bonds, etc
10. ftefunds and interest on Agricultural Adjust-
13. Excess profits net i
e (for purpose of determining c
*H« adju^liMnt for dJHfUoda r^cMrtd on atsck luld prlnurilj for •
7 for filing return) (\iL
328
STATISTICS OF INCOME FOR 1941, PART 2
INSTRUCTIONS FOR FORM 1120
Paget
1 Q4 1 UNITED STATES CORPORATION INCOME AND 1 Q^ 1
^*^^^ DECLARED VALUE EXCESS-PROFITS TAX RETURN *^^^^
(References are to (he Internal Revenue Code, unless other-wise noted)
GENERAL INSTRUCTIONS
A, Corporations Which must make a return. — Every
domestic and every resident foreign corporation not specifically
exempted by section 101, whether or not having any net
income, must file a return. The term "corporation' is defined
by the Code to include associations, joint-stock compa.nics,
and insurance companies. Every corporation which is subject
to the capital stock tax must make a declared value excess-
profits tax return for each income tax taxable year ending
after the close of the first year in respect of which it is subject
to the capital stock tax. A combined return for income and
declared value excess-profits tax purposes must be made on
Form 1120, except where a consolidated income tax return is
made by an afiiliated group of railroad corporations or Pan-
American trade corporations.
Receivers, trustees in dissolution, trustees in bankruptcy,
and assignees, operating the property or business of corpora-
tions, must make returns of income for such corporations. If
a receiver has full custody of and control over the business or
propwrty of a corporation, he shall be deemed to be operating
such business or property, whether he is engaged in carrying
on the business for which the corporation was organized or
only in marshaling, selling, and disposing of its assets for
purposes of liquidation.
B. Period to be covered by return. — Returns shall be filed
for the calendar year 1941 or fiscal year beginning in 1941 and
ending in 19-12. A fiscal year is an accounting period of
twelve months ending 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 cliange. An application for a change should be
made on Form 1 128 and forwarded to the collector prior to the
expiration of 30 days from the close of the proposed period for
which a return would be required to efTect the change.
C. Basis of return. — If your books of account are kept on
the accrual basis, report all income accrued, even though it has
not been actually received, and expenses incurred instead of
expenses paid. 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,
Buch as bank interest credited to your account and coupon
bond interest matured, and report expenses actually paid.
The following limitations on deductions for unpaid expenses
and interest are applicable to taxpayers on the accrual basis:
Section 24 (c). Unpaid expenses and interest. — In computing
net income no deduction shall be allowed under section 23 (a),
relating to expenses incurred, or under section 23 (b), relating
to interest accrued —
(1) If such expenses or interest are not paid within the
taxable year or within two and one half months after the close
thereof; and
(2j If, by reason of the method of accounting of the person
to whom the payment is to be made, the amount thereof is
not, unless paid, includible in the gross income of such person
for the taxable year in which or with which the taxable year
of the taxpayer ends; and
(3) If, at the close of the taxable year of the taxpayer or at
any time within two and one half months thereafter, both the
taxpayer and the per.son to whom the payment is to be made
are persons between whom losses would be disallowed under
section 24 (b).
D, Filing of returft and payment of tax. — Returns must be
6Ied on or before the loth day of the third month following
the close of the taxable year with the collector for the district
in which the corporation's principal place of bu.siness or prin-
cipal office or agency is located. In the case of a foreign cor-
poration not cngnged in business within the United States and
not having an office or place of business IhertMn at any time
within the taxable year the return shall be filed on or before the
15th day of the sixth month following the close of the taxable
year with tlie L''>ilector of Internal Revenue, Baltiniorc, Md.
Where a consolidated income tax return is filed by an affiliatrd
group of railroad corporations or Pan-American trade corpora-
tions, the separate declared value excess-profits tux returns of
the common parent corporation and each subsidiary corpora-
tion must be filed with the collector with whom the consoli-
dated income tax return is filed.
The tax must be paid in full when the return is filed, or in
four equa^l installments, as follows: On or before the 15th day
of the third month; on or before the 15th day of the sixth
month; on or before the loth day of the ninth month; and on
or before the 15th day of the twelfth month following the close
of the taxable year. If any installment is not paid on or before
the date fixed for its payment, the whole amount of the tax
unpaid shall be paid upon notice and demand by tjie 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
Internfl.1 Revenue." Do not send^ash by mail, nor pay it in
person except at the collector's office.
E, Signatures and verification. — The return shall be sworn
to by the president, vice president, or other principal officer,
and by the treasurer, assistant treasurer, or chief accounting
officer. Where the return is actually prepared by some person
or persons other than officers or employees of the corporation,
such person or person? must execute the affidavit at the foot
of page 1.
F, Penalties. — Severe penalties are imposed for failing to
file a return, for late filing, and for filing a false or fraudulent
return.
G-(I). Information at the source. — Every corporation
making payments of (1) interest, rents, commissions, or other
fixed or determinable income of $750 or more during the
calendar year 1941 to an individual, a partnership,, or a fidu-
ciary, or (2) salaries or wages of $750 or more to a single person
or $1,500 or more to a married person shall mp'.cc a return on
Forms 1096 and 1099. The returns on Forms 1096 and 1099
shall also include dividend payments amounting to $100 or
more during the calendar year 1941 to each shareholder who is
an individual (citizen or resident of the United States), a resi-
dent fiduciary, or a resident partnership any member of which
is a citizen or resident.
G-(2). Information regarding dissolution or liquidation. —
Every corporation shall, within 30 days after the adoption by
the corporation of a resolution or plan for the dissolution of
the corporation or for the liquidation of the whole or any part
of its capital stock, render a correct return on Form 966, to
the Commissioner, verified under oath, setting forth the terras
of such resolution or plan.
Every corporation making distributions in liquidation of the
whole or any part of its capital stock shall also make returns
on Forms 1096 and 1099 L, as required by instructions on
Form 1096 for the calendar year 1941.
H. Returns of certain corporations. — Domestic corporations
within the possessions of the United States (except the Virgin
Islands) may report as gross income only gross income from
sources within the United States, provided (a) 80 percent or
more of the gros.s income for the 3-year period immediately
preceding the close of the taxable year (or such part thereof as
may be applicable) was derived from sources witfiin a posses-
sion of the United States, and (h) 50 percent or more of the
gross income for such period or such part thereof was derived
from the active conduct of a trade or business within a posses-
sion of the United States. (Sec section 251.)
Ucsideni foreign corporations. — Foreign corporations which
at any time within the taxable year are engaged in trade or
business within the United States or have an office or place of
business therein shall make returns on Form 1120 of income
received from sources within the United States.
Nonreaident foreign corporations. — Foreign corporations not
engaged in trade or business within the United Slates and not
having an office or place of business therein at any time within
the taxable year are subject to tax upon gross income from
sources within the United States (determined under the
provisions of section 119) which is fixed or determinable, annual
or periodical gains, profits, and income, and are required to
make returns on Form 1120 NB with respect to such income
onlv in the event their tax liabilitv has not been fully satisfied
at the source. (Sec sections 231-'238.)
STATISTICS OF INCOME FOR 1941, PART 2
329
Page 2
Insurance companies. — Life insurance companies, as defined
by section 20L, shall file returns on Form 1120 L, instead of
Form 1120. Mutual insurance companies (other than life
insurance companies) shall make and file returns in accordance
with the provisions of section 207. The net income of an
insurance company {other than a life or mutual insurance
company referred to above) shall be computed as provided in
section 204.
Mutual investment companies. — A corporation claiming the
status of a mutual investment company must attach and file
with its return an affidavit executed by its officers who sign
and swear to its return, sho\\'ing the facts which it is claimed
qualify it to be treated as a mutual investment company.
I. Consolidated returns of certain corporations. — Subject to
the provisions of sections 141 and 152 and Regulations 104 an
aSiliated group of railroad corporations or Pan-American trade
corporations may make a consolidated income tax return in
lieu of separate returns.
The common parent corporation, when Sling a consolidated
return, shall attach thereto a schedule showing the names and
addresses of all the corporations included in the return. Each
taxable year each subsidiary must prepare two duplicate
originals of Form 1122 consenting to Regulations 104 and
authorizing the making of the return on its behalf. One such
form shall he attached to the consolidated return as a part
thereof, and the other shall be filed, at or before the time the
consolidated return is filed, in the office of the collector for the
subsidiary's district.
Supporting schedules shall be filed with the consolidated
return. These schedules shall be prepared in columnar form,
one column being provided for each corporation included in
the consolidation, shov,ing in detail the items of gross income
and deductions and the computation of net income;. 'one
column for a total of like items before adjustments are made;
one column for intercompany eliminations and adjustments;
and one column for a total of like items after giving effect to
the eliminations and adjustments. The items included in the
column for eliminations and adjustments should be symbolized
to identify contra items affected, and suitable explanations
appended, if necessary. .Similar schedules shall also contain
in columnar form a reconciliation of surplus for each corpora-
tion, together with a reconciliation of the consolidated surplus.
Consolidated balance sheets as of the beginning and close of
the taxable year of the group shall accompany the consolidated
return prepared in a form similar to that required for recon-
ciliation of surplus.
J. Surtax on improperly accumulated surplus. — There shall
be levied, collected, and paid for each taxable \'car (in addition
to other taxes imposed by chapter 1) upon the not income of
every corporation (other than a foreign personal holding com-
pany as defined in section 331 or a personal holding company
as defined in section 501) if such corporation, however created
or organized, is formed or availed of for the purpose of pre-
venting the imposition of the surtax upon its shareholders or
the shareholders of afty other corporation, through the medium
of permitting earnings or profits to accumulate instead of
being divided or distributed, a surtax equal to the sum of the
following:
Twenty-seven and one-Tialf percent of the amount of the
undistributed section 102 net income not in excess of $100,000,
plus 3S1< percent of the undistributed section 102 net income
in excess of SIOO.OOO.
For definition of "undistributed section 102 net income "
etc-i see section 102.
K-(I). Personal holding companies. — Section 500 imposes a
surtax upon the undistributed subchapter A net income of
corporations classified as personal holding companies. Cor-
porations so classified are exempt from the surtax on corpora-
tions improperly accumulating surplus imposed by section 102
but are not exempt from the other taxes imposed by chapter I.
Unlike the surtax imposed by section 102, surtax imposed by
section 500 applies to all personal holding companies, as
defined below, regardless of whether or not they were formed
or availed of to accumulate earnings or profits for the purpose
of avoiding surtax upon shareholders. In addition to filing a
return on Form 1120, every personal holding company must
file a return on Form 1120 H.
Section 301(a) defines a "personal holding company" as
any corporation if —
(1) Cross income requirement. — At least SO per centum of its
gross income for the taxable year is personal holding company
income as defined in section 502; but if the corporation is a
personal holding company with respect to any taxable year
beginning after December 31, 1936, then, for each subsequent
taxable year, the minimum percentage shall be 70 per centum
in lieu of SO per centum, until a taxable year during the whole
of the last half of which the stock ownership rtjquired by
paragraph (2) does not exist, or until the expiration of three
consecutive taxable years in each of which less than 70 per
centum of the gross income is personal holding company in-
come; and
(2) Slock ownership requirement. — At any time during the
last half of the taxable year more than 50 per centum in value
of its outstanding stock is owned, directly or indirectly, by or
for not more than five individuals.
See sections 500-511.
K-(2). Foreign personal holding companies. — In lieu of a.
surtax on the income of a foreign personal holding company, as
defined in section *31, section 337 requires that the undis-
tributed Supplement P net income of such corporation (in the
manner and to the extent set forth in the supplement) shall be
included as a dividend in the gross income of the citizens or
residents of the United States, domestic corporations, domestic
partnerships, and estates or trusts (other than estates or
trusts the gross income of which includes onlv income from
sources within tlic United States) who are shareholders in such
foreign personal holding company. A foreign personal holding
company is not required to file a personal holding company
return (Form 1120 H) but oflicers, directors, and certain United
States shareholders are required to file monthly and annual
returns of information as provided by sections 338 and 339.
A foreign corporation, whether resident or nonresident, which
is a personal holding company as defined in section 501 but is
not within the definition of the term "foreign personal holding
company" as used in section 331 due to the fact that more than
50 per centum in value of its outstanding stock was not owned,
directly or indirectly, at any time during the taxable year by or
for not iiiore than five individuals who were citizens or residents
of the United States, is subject to the surtax imposed by sec-
tion 500 on its income from sources within the United States
and must file an additional return on Form 1120 H.
K-{3). .Stock OTTnership in foreign corporations. — If your
corpoiation owned any stock of a foreign corporation (includ-
ing less than 5 percent of the slock of a foreign personal holding
company) attach to your return a statement setting forth the
name and address of each such company and the total number
of shares of each class of outstanding stock owned by you
during the taxable year. This is required in addition to the
mformation to be shown in .Schedule E of the return. If your
corporation owned stock at any time during the taxable year
m a foreign personal holding company, as defined in section
331, you must mclude in your return as a dividend the amount
required to be included in your gioss income by section 337.
If your corporation owned 5 percent or more in value of the
outstanding stock of such foreign personal holding company,
set forth in an attached statement in complete detail the
information required by section 337 (d).
L. Balance sheets.— The balance sheets. Schedule L, should
agree with the books of account or anv differences should be
reconciled. The balance sheets for a consolidated return of
railroad corporations or Pan-.American trade corporations
should be furnished in accordance with Instruction I. All
corporations reporting to the Interstate Commerce Commi.s-
sion or to any national. State, municipal, or other public
officer, may submit, in lieu of Schedule L, copies of their
balance sheets prescribed by said Commission or State and
municipal authorities, as at the beginning and end of the tax-
able year.
In case the balance sheet as at the beginning of the current
taxable year does not agree in every respect with the balance
sheet which was submitted as at the end of the previous
taxable year, the differences should be fully explained.
M. Forms other than prescribed by return. — Banks, insur-
ance companies, and other corporations required to submit
statements of income and expenses to any national. State
municipal, or other public officer may submit with the return a
statement of income and expenses in the form furnished to
such officer, in lieu of the information requested in items 1 to
30, page 1, except that a railroad company may submit with
the 'eturn a statement on Form 1090. In such cases the net
income will be reconciled by means of Schedule M with the net
profit shown by the income and expense statement submitted,
and should be entered as item 30, page 1.
330
STATISTICS OF INCOME FOR 1941, PART 2
N. KIND OF BUSINESS
Page 3
In answering the question, ''Kind of business," on page 1, give a. brief outline of your predominant business activity, and
also from the following list give the serial number of the business group which corresponds to your predominant business.
The business group in which your predominant business falls is that whicli most nearly describes tl\e activity accounting
for the largest percentage of "total receipts." "Total receipts" means the sum of gross sales (where inventories are an income-
determining factor) ; gross receipts (where inventories are not an income-determining factor) ; and income from other sources
required to be included in gross income.
Use the appropriate business group under the heading "FINANCE" whenever over 50 percent of the "total receipts"
consists of investment income.
MINING AND QUARRYING
. Lean hdJ iidc.
, Gold acd sliver.
, Otber metal mlniog.
Crods petroliiuni ■nd niloni f m predDctton:
8. Crude petroleum, oaturat gas,
and natural gasoline production.
B. Oil and gas Geld service opera-
Nonnietallic mining and qiurryint:
10. Stone, sand, dud Eravel.
11. Otber noumet^-illic mining and
quarrying.
MANUFACTURING
F*«J ind kindred produclo:
12. Baktryprodurts.
13. Con:':i.iionery products, including
chocolate end cocoa prod'icts.
14. Canning and preserving of frmts,
vegetables, and sea foods.
15. Meat products
17. Cereal prepa
"" " *;y prot'
18. Dairy products, except market
32. Distilled, Kcti&cd; and blended
25. Tobacco mmnufB:ltiTCS.
Tcslilc*niill producU:
26. Cotton manufftcturea (in tbe
gray).
rmi.hinK-
28. Siil; mriuufacturos
29. Ttayna manufaclii:
33. Dyeing aud finishing textiles, ex-
cept wnnlen and worsted.
34. Otber texulcxill products.
Apparel and other finiihcd prodocU mada
39. Otber apparel, etc.
Ltalhcr and producta:
40. Leather, tanned, curried, and
Gni>l)ed.
41. Footwear, tJthcr than rubber.
42. Other leather products. Including
leather gloves and mittens.
Rubber ptodcctis
43. Tires and Inner tubes.
44. Other rubber Eoods, IncIurllDg
LoBbci ami limber baiic preducta:
45. Lopping cmips and sawmills.
46. Planing mills.
FurnilUTc and finiahcd lumbar producta:
47. Furniture (wood and metal).
iV. Partitions, shi-h inr, cabinet work.
55. Periodicals.
56. Bcoki jud ru-.istc.
57. Comqjorcial printine.
5S- Othvi p:in:in^, putlL=;biac. etc.
rhemkab and .-illiad producti:
59. Vaints. varnishes, and colors,
60. Sonp and plycerin.
61. Drugs, toilet preparations, etc.
62. Rayon (as raw material) and
allied rrodacts.
63. Fertilizers.
64. Animal and vegetable oils, except
lubricants or cooking and salad
oils.
67. Other chemical producta.
60. Other.
itODC, claj, and class prodocte:
70. Cut stone and stone products.
71. Structural, clay products.
72. Pottery, porcelain, etp.
73. Glass and glass products.
74. Cement.
75. Concrete, ^psum, and plastei
XiSl .
nmet^llic mioercl
>. Blecl, and producU:
r. Blast furnaces, steel
rolling mills.
tool"), general hardwa _
, Heating apparatus (except elec-
tric), and plumbers' snpplits,
including enameled irja sani-
tary ware.
, Other iron and =teel products (rot
listed below), including metal
stamping, foundry, and wire
products.
aud drawing of nouferrous
. Clocks and watches. Including
87. Electri.^iil equipment for public
utilit>. mnnufacturing, mining,
transportation (except
80. Elootrical appliances.
91. Other elrctrical machinery, equip-
ment, and supplies.
and electrical machincif:
92. Special Industry machinery, ex-
cept metul-working machinery.
93. General industry machinery.
94. Metal-working machinery. In-
cluding macblnc tools.
65. Engines and turbines.
96. Construction, mmlng, and related
■ machinery.
97. .\gricullural machinery and trac-
98. Othcc and store machines, equlp-
meol. and supplies.
«0. Other machinery.
Ablotnobiles and equipment:
100. Autr.mobilrs and trucks, in-
cluding bodies and industrial
rquipmpnt.
103. Aircraft and parts.
104. Ship and boat building and
repairing.
105. Motorcycles, bicycles, and parts.
1C6. Other transportation equipment.
107. Other manuracturing.
PUBLIC UTILITIES
Tra luperta Hon :
lOS. Kailroads, switching, and termi-
nal compacics. Eleepicg car
and other pji^engcr car serviee.
Railway express (
>ort3tion, including local bus
l:ncs.
113. Highway freight transportation,
including local trucking and
warehousing, and storage.
IH. Air transportation and allied
119. Telei^raph (wire and radio) and
cable.
120. Radio broadcasting and tele-
Other public utilitici:
121. Electric light and power.
124. Other utilities.
WHOLESALE TRADE
ill: dealers.
, Alcoholic beverages.
Apparel and dry goods.
120. Chen:
130. Hardwan
plumbir
ment an
13!. Lumber and i
and heating equip-
RETAIL TRADE
General mcrchandiae:
133. Limited-price variety stores.
i:)-!. Mail-ordur bouses.
135. Other general merchandise stc
136. Food alorcs, includine retail tna
milk deaUra.
137. Pachafe liquor alorea.
138. Drug slorea.
139. Apparel and acceuoriei.
140. Furniture, home furiii)hin|a. ami e<;
141. Ealtne and drinkinc places.
tires, batteries, aircraft, motoi
boau. motorcycles. '
144. Filtini iladon..
145. Hardware.
146. Lumber and building nuteriala and
equipm.nl. (u«-l and ice deaUra.
147. Olher retail trade.
151. Other personal:
152. Advertising.
153. Other bi '
a. Automotive
155. r^iuellane*
icrcifil photography
158. Amua
159. Other
160. Banka a
161. Lone-tci
banks,
FINANCE
from investments and which i
time during tbe taxable year had
investments in companies in which
they owned SO percent or more of
the voting stock):
1G5. Management tj-pe.
ir*. Fixed or semifixed type.
1C7. Installment investment plfUiS
and guaranteed face -amount
)(her investment companica. iiKludinc
holding companies:
lfi9. Companies which derived 90
pero:nt or more of "total
during
invest -
of tbe voting stock.
170. Companies which derived less
than 90 percent hut more than
50 percent of "total receipts"
rountcr brokera and dealer a.
and lessees of buildinei
178. Owners lor improvement.
179. Trading for own account.
leO, Aecnls. brokers, managers, etc.
181. Title abitraci cnmpar.le..
is:. Lcsice operator* oi improved prepertj.
LESSORS OF REAL PROPERTY OTHER
185. Railroad properties.
ie6. Publk iitiUir properties.
187. OtUr real properlr.
CONSTRUCTION
188. General contractors.
189. Special trade contracteri (aobcctt*
tractors).
AGRICULTURE. FORESTRT, AND
FISHERY
190. Fercilrj. eiclodinf leg|in( caop«.
191. Fiihcr
, l-iiticrv.
, Airkullu
STATISTICS OF INCOME FOR 1941, PART 2
331
SPECIFIC INSTRUCTIONS
(Nambered lo correspond witb Item numbers un page 1 of reta
2. Cost of goods sold.— Tf the production, manufacture,
purchase, or sale of merchandise is an income-producing
factor in the trade or business, 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 (b) cost or market,
Vhichever is lower. The basis properly adopted is controlling
until permission to change is obtained from the Commissioner.
Application for permission to clianite the basis of valuing inven-
tories shall be made in writing and filed with the Commissioner
within 90 days after the bcgiuniiig of the taxable year in which
it is desired' to effect a change. Enter the letters "C," or
"C or M," immediately before the amount column in Schedule
A, if the inventories are valued at either cost, or cost or market,
whichever is lower, and explain fully in answer to question
12 on page 3 the method used. In case the inventories reported
do not agree with the balance sheet, attach a statement
explaining the difference.
A corporation electing to have applied the method of taking
inventory provided for in section 22 (d) should file Form 970
with the return for the first year of the election.
7. Interest. — Interest coupons falling due within the taxable
year will be considered as income for such year where the books
are kept on a cash receipts and disbursements basis, if the
books are kept op an accrual basis, report the actual amount
of intei'cst accrued on the obligations owned daring the taxable
year.
Where obligations are purchased between interest dates and
the purchase price includes accrued interest, such part of the
purchase price as represents accrued Interest purchased should
neither be claimed as a deduction for interest paid nor be added
to the cost of the obligations but should be treated as an offset
against the interest received or accrued at a later date.
8. Interest on obligations of the United States, etc. — Enter
on line 4, Schedule L, the amounts of the various obligations
owned. Enter on line 15, Schedule M, all interest received or
accrued during the year on the various obligations listed therein.
The amount of interest reported on line 15 (a) (5), Schedule
M, should be entered as item 8 (a), page 1. The total of
the interest reported on line 15 (a) (6), Schedule M, should
be entered as item 31, page 1. The total amount of interest
reported as item S (a) ai-d item 31 is allowable as a credit
jtgainst net income, and such total should be entered as item
37, page 1. The amount of interest received or accrued on
■obligations issued on or after March 1, 1941, by the United
States or any agency or instrumentality thereof should be
•entered as item 8 (6), page 1.
9. Rents. — Enter the gross amount received for the rent of
property. Any expenses, including repairs, interest, taxes,
and depreciation, should be included in the proper items of
■deductions on page 1.
10. Royalties.— Enter the gross amount received as royalties.
If a deduction is claimed for depletion, it should be reported
.as item 25, page 1.
11. Gains and losses from sales or exchanges of capital
assets and other property.^ Report sales or exchanj^es of
capital assets in Schedule C and sales or exchanges of property
other than capital assets in Schedule D. Every sale or ex-
change of property, even though no gain or loss may be indi-
cated, must be reported in detail. Long-term capital losses
are allowable, but short-term capital losses are allowable only
to the extent of the short-term capital gains. However, a
net short-term capital loss (in an amount not in excess of the
net income for such year) may be treated in the succeeding
taxable year as a short-tcnn capital loss. The carry-over is
thus applied in such succeeding year to offset any short-term
capital gains in such succeeding year not already offset by short-
term capital losses in such year. The carry-over is restricted
to one year. a
Definition of capital assets. — The term "capital assets" means
property held by the taxpayer (whether or not connected with
his trade or business), but does not include stock in trade of
the taxpayer or other property of a kind which would properly
"be included in the inventory of the taxpayer if on hand at
the close of the taxable year, or property held by the taxpayer
primarily for sale to customers in the ordinary course of his
. \de or busine.'^, or property used in the trade or business,
of a character which is subject to the allowance for depreciation,
provided in section 23 (1), or an obligation of the United States
-or any of its possessions, or of a State or Territory, or any
political subdivision thereof, or of the District of Columbia,
jssued on or after March 1, 1941, on a discount basis and
payable without interest at a fixed maturity date not exceeding
.one year from the date of issue.
Classificalinn of capital gains and losses. — The phrase "short-
terra" applies to the category of gains and losses arising from
the sale or exchange of capital assets held for IS months or
less; the phrase "long-term" to the category of gains and losses
arising from the sale or exchange of capital assets held for more
than 18 months.
Enter full description of each item of property sold or
exchanged, even though no gain or loss may be indicated.
Such description should include the following facts: {a) For
real estate, location and description of land, description o^
improvements, details explaining depreciation (column 6 of
Schedules C and D) ; (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 issuing corporation, class of stock, number of shares,
and capital changes affecting ba^is (nontaxable stock dividends,
other nontaxable distributions, 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
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. If
property was acquired after February 28, 1913, basis for both
gain and loss is the cost of such property, except as otherwise
provided by section 113. The exceptions arise chiefly where
property was acquired 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 amount shown as the basis Is other than actual cash cost
of the property sold or exchanged, full details must be furnished
regardingrHhe acquisition of the property.
Enter in column 6 of Schedules C and D 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 sustained before that date.
Subsequent improvements include expenditures for additions,
improvements, renewals, and replacements made to restore
the property or prolong its useful life. Do not deduct ordinary
repairs, interest, or taxes in computing gain or loss.
Losses on securities becoming worthless. — If any. securities
(as defined below) are ascertained to be worthless and charged
off within the taxable year and are capital ass*ts, the loss
resulting therefrom shall, in the case of a taxpayer other than
a bank, as defined in section 104, be considered as a loss from
the sale or exchange, on the last day of such taxable year, of
capital assets. (See section 23 (k) (2).)
Definition of securiiies. — As used for the purpose of determin-
ing capital losses under section 23 (k), the term "securities"
means bonds, debentures, notes, or certificates, or other evi-
dences of indebtedness, issued by any corporation (including
those issued by a government or poHtiqjil subdivision thereof),
with interest coupons or in registered form.
Losses on stocks or stock rights becoming worthless. — If any
shares of stock in a corporation, or rights to subscribe for or
to receive such shares, become worthless during the taxable
year and are capital assets, the loss resulting therefrom shall
be considered as a loss from the sale or exchange, on the last
dav of such taxable year, of capital assets. (See section 23
(g) (2).)
Losses not allowable. — No loss shall be recognized in any sale
or other disposition of shares of stock or securities where there
has been acquired substantially identical stock or securities or
there has been entered into a contract or option to acquire
substantially identical stock or securities within 30 days before
or after the date of sych sale or disposition, except in cases
of dealers in stocks and securities and with respect to trans-
actions made in the ordinary course of such business.
No deduction shall be allowed in respect of losses from sales
or exchanges of property, directly or indirectly (except in the
case of distributions in liquidation), between an individual and
a corporation in which such individual owns, directly or in-
directly, more than 50 percent in value of the outstanding
stock; or (except in the case of distributions in liquidation),
between two corporations more than 50 percent in value of the
outstanding stock of each of which is owned, directly or in-
directly, by or for the same individual, if either one of such
corporations, with respect to the taxable year of the corporation
preceding the date of the sale or exchange was, under the laws
applicable to such taxable year, (1) a personal holding company.
332
STATISTICS OF INCOME FOR 1941, PART 2
as defined in section 501, or (2) a foreign personal holc'hg
company, as defined in section 331 (see paragraph (1) (C) of
eection 24 (b)). For the purpose of determining the ownership
of Et«ck, in applying this paragraph, see section 24 (b) (2).
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 to loss from the sale or exchange of property
used in the trade or business, of a character which is subject
to the allowance for depreciatiun provided in eection 23 (1).
17. Rent. — Enter rent paid or accrued for business property
in which the corporation has no equity.
18. Repairs. — Enter the cost of incidental repairs, including
labor, supplies, and other items, which do not add to the value
or appreciably prolong the life of the property. Expenditures
for new buildings, machinery, equipment, or for permanent
improvements or betterments which increase the value of the
property are chargeable to capital account. Expenditures for
restoring or replacing property are not deductible, as such
expenditures are chargeable to capital accounts or to deprecia-
tion reserve, depending on how depreciation is charged on the
■books of the corporation,
19. Bad debts. — Bad debts may be treated in either of two
ways — (1) 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.
A taxpayer filing a first return of income may select either of
the two methods, which method must be followed in returns
for subsequent j'cars, 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.
Worthless debts arising from unpaid wages, salaries, rents,
and similar items of taxable income, will not be allowed as a
deduction unless the income such itfems represent has been
included in the return of income for the year for which the
deduction as a bad debt is sought to be made or for a previous
year.
20. Interest. — Enter interest paid or accrued on business
indebtedness. Do not include in item 20 interest on indebted-
ness 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 tax-
payer) the interest upon which is wholly exempt from taxation,
bee also Instruction C with reference to deductions for accrued
interest and expenses.
21. Taxes. — Enter taxes paid or accrued during the taxable
year and fiy. in Schedule H. Do not include Federal income,
war-profits, and excess-profits taxes; estate, inheritance, legacy,
succession, and gift taxes; foreign or possession income taxes
if any credit is claimed in item 42, page 1; taxes assessed against
local benefits tending to increase the value of the property
assessed; Federal taxes paid on bonds containing a tax-free
covenant, nor taxes not imposed upon the taxpayer. A
deduction is allowable for the declared value excess-profits
tax imposed by section 600 and the excess profits tax imposed
by section 710, but such deductions should be entered as
items 33 and 35.
22. Contributions or gifts paid. — Enter contributions or
gifts actually paid within the taxable year to or for the use of a
corporation, trust, or community chest, fund, or foundation,
created or organized in the United States or in any possession
thereof or under the law of the United States, or of any State
or Territory, or of the District of Columbia, or of any possession
of the United States, organized and operated exclusively for
religious, charitable, scientific, literary, or educational purposes
or the prevention of cruelty to children (but in the case of
contributions or gifts to a trust, chest, fund, or foundation, only
if such contributions or gifts are to be used within the United
States or any of its possessions exclusively for such purposes),
no part of tlie net earnings of which inures to the benefit of
any private shareholder or individual, and no substantial part
of the activities of which is carrying on propaganda, or other-
wise attempting, to inllucnce legislation. The amount claimed
shall not exceed 5 percent of the corporation's net income as
computed without the benefit of this deduction. Do not
deduct as a business expense charitable contributions which
come within the above description, but which might be un-
allowable', in whole or in part, because of the limitation con-
tained in section 23 (q). List organizations and amounts
contributed to each in Schedule I.
23. Losses by fire, storm, shipwreck, or other casualty, or
theft. — Enter losses of property sustained during the year,
arising from fire, storm, shipwreck, or other casualty, or from
theft. Such losses should be explained in an attached schedule
setting forth a description of the property, date acquired, cost,
subsequent improvements, depreciation allowable since acquisi-
tion, insurance, salvage value, and deductible loss.
24. Depreciation. — The amount deductible on account of
depreciation is an amount reasonably measuring the portion
of the investment in depreciable property used in the trade or
business by reason of exhaustion, v/ear and tear, including a
reasonable allowance for obsolescence, which is properly
chargeable for the year. If the property was acquired by pur-
chase on or after March 1, 1913, the amount of depreciation
should be determined upon the basis of the original cost (not
replacement cost) of the property, and the probable number of
years remaining of its expected useful life. In case the property
was purchased prior to March 1, 1913, the amount of deprecia-
tion will be determined in the same manner, except that it will
be computed on its original cost, less depreciation sustained
prior to March 1, 1913, or its fair market value as of that date,
whichever is greater. If the property was acquired in any
other manner than by purchase, see sectio*i 114. The capital
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 during the taxable year and
should be described in the return. Stocks, bonds, and like
securities are not subject to depreciation within the meaning
of the law.
If a deduction is claimed on account of depreciation, fill in
Schedule J. In case obsolescence is included, state separately
amount claimed and basis upon which-it is computed. Cost or
value of land must not be included in this schedule, and v.here
land and buildings were purchased for a lump sum the cost of
the building subject to depreciation must be established. The
adjusted property accounts and the accumulated depreciation
shown in the schedule should be reconciled with those accounts
as reflected on the books of the taxpaver. (See sections 23 (1)
and 114.)
25. Depletion of mineSr oil and gas wells, timber, etc. — If
a deduction is claimed on account of depletion, procure from
the collector Form D (minerals), cForm E (coal), Form F (mis-
cellaneous nonmetals), Form O (oil and gas), or Form T (tim-
ber), fill in and file with return. If complete valuation data
have been filed with questionnaire in. previous years, then file
with your return information necessary to bring your deple-
tion schedule up to date, setting forth in full statement of all
transactions bearing on deductions from or additions to value
of physical assets during the taxable year with explanation of
how depletion deduction for the taxable year has been de-
termined. {See sections 23 (m) and 114.)
26. Net operating loss deduction. — The net operating loss-
deduction is the net operating loss carry-over reduced by cer-
tain adjustments to prevent the deduction of losses absorbed
by income not taxed. In general, the net operating loss carry-
over is the sum of the net operating losses, if any, for the two
preceding taxable years. If there is net income (computed as
provided in section 122) in the first preceding taxable year, the
net operating loss for the second preceding taxable year is
reduced to the extent such loss has been absorbed by such net
income. For the purpo.se of ascertaining the first, second, or
third preceding taxable year, a fractional part of a year which
is a taxable year under section 48 (a) is a preceding taxable year.
Every corporation claiming a net operating loss deduction for
any taxable year shall file with its return for such year a con-
cise statement setting forth the amount of the net operating
loss deduction claimed and ^11 material and pertinent facta
relative thereto, including a detailed schedule showing the
computation of the net operating loss deduction.
Steps in computation of net operating loss deduction. — There
are three steps in the ascertainment of the net operating loss
deduction. The first is the determination of the net operating
loss, if any, for the two preceding taxable years. Th&-second
is the computation of the net operating loss carry-over. The
third is the conversion of the net operating loss carry-over into
the net operating loss deduction.
(I) Net operating loss. — A net operating loss is sustained by
a corporation in any taxable year if and to the extel¥f "that, for
suchVear, there is an excess of deductions allowed by chapter 1
over gross income, both computed with the following exceptiona
and limitations:
(1) The deduction for depletion shall not exceed the amount
which would be allowable if computed without reference to
discovery value or to percentage depletion under section 114
(b) (2), (3), or (4);
(2) There shall be included in computing gross income the
amount of interest received which is whuUy exempt from the
taxes imposed by chapter 1, decreased by the amount of in-'
terest paid or accrued which is no^ allowed as a deduction by
section 23 (b), relating to interest on indebtedness incurred or
STATISTICS OF INCOME FOR 1941, PART 2
333
Page 6
continued to purchase or carry certain tax-exempt obligations;
(3) No not operating loss deduction shall be allowed; and
(4) The amount deductible on accotmt of long-term capital
losses shall not exceed the amount includible on account of
the long-terra capital gains, and the amount deductible on
accoimt of short-term capital losses shall notervceed the amount
includible on account of the short-term capital gains.
The application of this provision may be illustrated by the
following example:
Example. — For the year 1940 thcX Corporation, which makes
its income tax returns on the calendar year basis, has gross
income as defined in section 22 of $400,000 and deductions
allowed by section 23 of $000,000, exclusiveof any net operating
loss deduction. Included in gross income arc long-term capital
gains of $50,000 and short-term capital gains of,S25,000.
Included among the deductions are long-term capital losses of
$60,000 and short-term capital losses of $25,000. The X
Corporation also deducted $75,000 for depiction on a percentage
basis. If depletion had been computed without reference to
percentage depletion, the amount of such deduction would have
been $5,000. For 1940 the X Corporation also had $35,000 of
wholly tax-exem.pt interest, and paid $15,000 in interest on
indebtedness incurred to carry the obligations from which such
tax-exempt interest was derived.
On the basis of these facts the X Corporation has a net
operating loss for the vcar 1940 of $100,000, computed as
follows :
(1) Deductions for 1949 _„. $GC0, 000
Less:
(2) Excess of percentage depiction over
cost ($75,000 minus $5^000) $70, 000
(3) Excess of long-term capital losses
over gains ($00,000 minus $50,000) _ 10, 000
(4) Sum of items (2) and (3) 80, 000
(5) Deductions adjusted as required by section 122
(d) (item (11 minus item (4)) _.. $520, 000
(6) Gross income for 1940 $400, 000
(7) Plus tax-exempt interest minus in-
terest paid ($35,000 minus $15,000). 20, 000
(8) Gross income adjusted as required by
section 122 (d) (item (6) plus item
(7))-,. - .— 420,000
(9) Net operating loss for 1940 (item (5) minus
item (8)) -■. $100,000
(II) Net operating loss carry-over. — The term "net operating
loss carry-over" means the sum of;
(1) The amount, if any, of the net operating loss for the first
preceding taxable year; and
(2) The amount of the net operating loss, if any, for the
second preceding taxable year reduced by the excess, if any, of
the net income (computed with the exceptions and limitations
as prescribed in paragraph (I) of this instruction) for the first
preceding taxable year over the net operating loss for the third
preceding taxable year.
The application of this provision may be illustrated by the
following example:
Example. — The X Corporation has a net operating loss for
1939 of $100,000 and a net operating loss for 1940 of $50,000.,
Its net operating loss carry-over to 1941 is therefore $150,000.
If the corporation had had net income for 1939 but the same
net operating loss for 1940, the net operating loss carry-over to
1941 would have been $50,000.
(III) Conversion of net operating loss carry-over into net
operating loss deduction. — The net operating loss deduction
for any taxable rear is tlic net operating loss carry-over to such
year, computed as prescribed in paragraph (II) of this instruc-
tion, reduced by the excess of the net income for such taxable
year (computed in accordance with the same exceptions and
limitations as are applicable in the computation of a net oper-
ating loss) over the normal-tax net income computed without
regard to the exceptions and limitations applicable in the com-
putation of a net operating loss, except that no net operating
loss deduction shall be taken into account.
The application of this provision may be illustrated by tlie
following example:
Example. — The X Corporation has Ji net operating loss
carry-over to 1941 of $55,000. Its net ihcome for 1941, com-
puted with the adjustments referred to above, is $450,000, and
its normal-tax net income, computed without any exceptions
and limitations except that no net operating loss deduction
shall be allowed, is $445,000. The net operating loss deduction
available to the X Corporation for the year 1941 is $50,000,
computed as follows:
Net operating loss carry-over to 1941 $55, 000
Less: Excess of net income for 1941 with adjustments,
over normal-tax net income for 1941 without adjust-
ments except that no net operating loss deduction
shall be allowed ($450,000 minus $445,000) 5, 000
Net operating Joss dedviction for 1941 $50. 000
Net operating loss deduction in case of insurance compa-
nies.— The benefit of the deduction for net operating losses pro-
vided by section 23 (s), computed under section 122, 'shall be
allowed to life insurance companies, insurance companies other
than life or mutual, and mutual companies other than life, sub-
ject to certain exceotions and limitations set forth in section
19.20S-1, Regulations 103.
Denial of deductions to section 102 corporations. — In ascer-
taining the tax basis for corporations subject to tlie provisions
of section 102, the "section 102 net income" shall be computed
without the net operating loss deduction.
Denial of deductions to mutual investment companies. — A
mutual investment company is not allowed, under section 362.
(a), the net operating loss deduction provided in section 23 (s).
27. Amortization. — A corporation is entitled, at its election,
to a deduction with respect to the amortization of the adjusted
basis of an emergency facility. A statement of the pertinent
facts should be filed vv-ith the taxpayer's election to take amor-
tisation deductions with respect to such facility. (See section
10.124, Regulations 103.)
28. Other deductions authorized by law. — Enterany otherau-
thorized deductions for which no space is provided on the return.
Any deduction claimed should be explained in Schedule K.
Do not deduct losses incurred in transactions which were
neither connected with your trade or business nor entered into
for profit.
No deduction is allowable for the amount of any item or part
thereof allocable to a class of exempt income, other than
interest. Items directly attributable to such exempt income
shall be allocated thereto, and items directly attributable to
any class of taxable income shall be allocated to such taxable
income. If an item is indirectly attributable both to taxable
income and exempt income, a reasonable proportion thereof,
determined in the light of all the facts and circumstances in
each case, shall be allocated to each. Apportionments must
in all cases be reasonable. A taxpayer receiving any exempt
income, other than interest, or holding any property or engagmg
in any activity the income from which is exempt, shall submit
with its return as a part thereof an itemized statement, in detail,
showing (1) the amount of each class of exempt income, and (2)
the amount of expense items allocated to each such class (the
amount allocated by apportionment bcmg shown separately).
A corporation which has, for the purpose of computing its
excess pi^fits credit, elected under section 733 to charge U>
capital account expenditures for advertising or the promotion
of good will which may be regarded as capital investments and
which were deducted for taxable years beginning after Decem-
ber 31, 1935, and prior to January 1, 1940, may not deduct
siiTiiiar e.xpenditures for the taxable year,
33. Declared value excess-profits fax. — A deduction is
allowable for declared value excess-profits taxes (see Instruc-
tion 21). Corporations rendering returns on the accrual basis
sliould enter as a deduction as item 33, page 1, the amount of
tax shown in line 8, page 2. Corporations rendering returns
on a cash basis should enter as a deduction as item 33, page I,
only the amount of declared value excess-profits tax actually
paid within the taxable year.
35. Excess profits tax. — The deduction allowable for excess
profits tax is limited to the tax imposed for the taxable year,
but any portion of the excess profits tax paid after the taxable
year is deemed to have been paid within the taxable year.
For the purposes of this deduction, the e.^cess profits tax shall
be computed without reduction by the foreign tax credit, and
without regard to the adjustments provided in section 734.
In the case of a consolidated return the tax shall be allocated to
the members of the affiliated group. (See section 23 (c) (2).)
42. Credit for taxes. — If, in accordance with section 131 (a),
a credit is claimed by a domestic corporation in item 42, page 1,
on account of income, war-profits, and excess-profits taxes paid
or accrued to a foreign country or a possession of the United
States, Form lllS should be submitted with the return,
together with the receipt for each such tax payment. In case
credit is sought for taxes accrued but not paid, the form must
have attached to it a certified copy of the return on which each
such accrued tax was based, and the Commissioner may require
a bond on Form 1119 as a condition precedent to the allowance
of a credit for such accrued taxes. Foreign corporations,
domestic corporations entitled to the benefits of section 251,
and corporations organized under the China Trade Act, 1922,
are not allowed this credit.
589783 — 44-
-22
334
STATISTICS OF INCOME FOR 1941, PART 2
Page?
TAX COMPUTATION INSTRUCTIONS
DECLARED VALUE EXCESS-PROFITS TAX
The declared value excess-profits tax is imposed upon a
certain portion of the net income of every corporation for each
income-tax taxable year ending after the close of the first
year in respect of which the corporation is subject to the
capital-stock tax imposed by section 1200. The declared
value excess-profits tax is imposed in an amount equal to the
sum of (1) 6.G percent of such portion of the corporation's net
income for the income-tax taxable year as is in excess of 10
percent and not in excess of 15 percent of the adjusted declared
vahie of its capital stocky as determined under section 1202,
as of the close of the last preceding income-tax taxable year
(or as of the date of organization if the corporation had no
preceding income-tax taxable year), plus (2) 3.2 percent of
such portion of its net income for the income-tax taxable year
as is in excess of 15 percent of such adjusted declared value.
No variation is permitted between the adjusted declared value
fiet forth in the capital-stock tax return and the adju-■^ted
declared value set forth in the declared value excess-profits
tax return, except that in the case of a declared value excess-
profits tax return for an income-tax taxable year which is a
period of less than 12 months, the adjusted declared value set
forth in the capital-stock tax return shall be reduced to an
amount which bears the same ratio thereto as the number of
months in the period bears to 12 months. The first return of
a cor[)oration covering the part of the year in which it was in-
corporated, or the final return of a corporation covering the
part of the year in which it was dissolved, is a return for 12
month's and not for a period of less than 12 months. For
declared value excess-profit.s tax purpo.ses the net income shall
be the same as the net income for income tax purposes, com-
puted without the deduction of the declared value excess-
profits tax imi)osed by section 600 or the excess profits tax
imposed by section 7i0. None of the credits allowed corpo-
rations against net income for income tax purposes is appli-
cable in respect of the declared value excess-profits tax except
the credit against net income equal to the credit for dividends
received provided in section 26 (b). Foreign income and
profits taxes may not be credited against the declared value
excess-profits tax.
Every corporation which is liable for the making of a
declared value excess-profits tax return, whether or not such
corporation is a member of an affiliated group of corporations,
must make its return and compute its net income separately,
without regard to the provisions of section 141. Where an
affiliated group of railroad corporations or Pan-American trade
corporations makes a consolidated income tax rejourn, the
common parent corporation and each subsidiary which is
liable for the making of a declared value excess-profits tax
return must make a separate declared value excess-profits tax
return.
NORMAL TAX ON CORPORATIONS
Normal-Tax Net Income. — The term "normal-tax net in-
come" means the adjusted net income minus the credit for
dividends received provided in section 26 (b).
Adjusted Net Income. — The term "adjusted net income"
means the net income, as defined in section 21, minus the
credit provided in section 26 (a), relating to interest on certain
obligations of the United States and Government corporations.
Dividends Received Credit. — The credit allowed by sec-
tion 26 (b) is an amount equal to 85 percent of the amount
received as dividends from a domestic corporation which is
subject to taxation under chapter 1, but not in excess of 85
percent of the adjusted net income. The credit allowed by
section 26 (bj may not be allowed in respect of dividends
received from a corporation organized under the China Trade
Act, 1922, or from a corporation which under section 251 is
taxable only on its gross income from sources within the
United States by reason of its receiving a large percentage of
its gross income from sources within a. possession of the
United States.
Rates on Normal-Tax Net Income. — Secliona 13 and 14
of the Internal Revenue Code impose a normal tax on every
corpijralion (except (1) those expressly exempt from taxation;
(2) insurance companies; (3) foreign corporations; and (4)
mutual investment companies) at the following rates:
// normal-tax net income is: The normal tax shall he:
Not over $5,000 15% of the normal-tax net
income
Over $5,000 but not over $750 plus 17% of excess over
$20,000 $5,000
Over $20,000 but not over $3,300 plus 19% of excess
$25,000 over $20,000
Over $25,000 but less than $4,250 plus 37% of excess
$38,461.54 over $25,000
$38,461.54 and over 24% of tlie normal-tax net
income
Life Insurance Companies. — The term "life insurance
company" means an insvi ranee company engaged in the
business of issuing life insurance and annuity contracts (in-
cluding contracts of combined life, health, and accident
insurance), the reserve funds of which held for the fulfillment
of such contracts comprise more tlian 50 percent of its total
reserve funds. (See Instruction H relative to returns of life
insurance companies.)
Insurance Companies Other Than Life or MutuaL —
The tax upon the normal-tax net income (determined under
section 204) is imposed by section 204 (a) at the rates sho\\'n
above.
Mutual Insurance Companies Other Than Life. — The
tax upon the normal-tax net income (determined under section
207) is imposed by section 207 (a) at the rates shown above.
This tax applies to foreign corporations carrying on an
insurance business within the United States as well as domestic
corporations.
Foreign insurance companies not carrying on an insurance
business within the United States shall be taxable as other
foreign corporations. (See following paragraph.)
Foreign Corporations. — Section 14 (c) provides for a tax
on foreien corporations engaged in trade or business within
the United States or having an office or place of business
therein, equal to 24 percent of the normal-tax net income,
irrespective of the amount. In the case of foreign corporations
not engaged in trade or business within the United States and
not having an office or place of business therein, the tax is as
provided in section 231 (a).
Foreign corporations are not allowed the credit for income,
war-profits, and excess-profits taxes paid or accrued to any foreign
country or to any possession of tlie United States allowed by
section 131.
SURTAX ON CORPORATIONS
Surtax Net Income. — The term "surtax net income"
means the net income minus the credit for dividends received
provided in section 26 (b), computed by limiting such credit
to 85 percent of the net income in lieu of 85 percent of the
adjusted net income.
The surtax imposed by section 15 (b) is 6 percent of the
amount of the surtax net income not in excess of $25,000,
and 7 percent of the amount of the surtax net income in <
of $25,000.
If a corporation, as defined in section 3797 (a) (3), shows
to the satisfaction of the Commissioner that it is entitled to
the status of a mvitual investment company, as defined in
section 361, it is taxable upon its Supplement Q net income
at the rate of 24 percent.
"Supplement Q net income," as defined in section 362 (a),
means the adjusted net income computed without the net
operating loss deduction provided in section 23 (s), minus
the basic surtax credit computed under section 27 (b) without
tlie application of paragraphs (2) and (3).
The term "Supplement Q surtax net income" means the
net income, computed without the net operating loss deduction
provided in section 23 (s), minus the dividends paid during
the taxable year increased by the consent dividends credit
provided in section 28. For computation of the amount of
dividends paid, see section 363 (a).
The surtax imposed by section 363 (b) is 6 percent of the
amount of the Supplen;ent Q net income not in excess of
$25,000, and 7 percent of the amount of the Supplement Q
net income in excess of $25,000.
STATISTICS OF INCOME FOR 1941, PART 2
335
UNITED STATES
FORM 1 120 1.
INSURANCE COMPANY INCOME TAX REIVRN
1941
FOR COMPANIES ISSUING LIFE AND ANNUITY CONTRACTS,
INCLUDING CONffilNED LIFE, HEALTH, AND
ACCIDENT INSURANCE
FOR CALENDAR YEAR 1941
rk X^ RcUm WiJi ibe CoCtlH et lolercJ Reveooe for Yoor Ksbid oo or Befcre Hanb 15, 1942
(Siiwl ud numbo)
File
Code
Smkl
Number
Cuh Check M.O. CcTtotlpti.
<r>nc Paynxnt)
-i^ GROSS INCOME
'i) Obligations of a State, Territory, or political subdivision
thereof, or tbe Dii^Lrict of Columbia, or United States
possessions ._ - --
(6) Obligations issued prior to March I, 1941, under Federal
Farm Loan Act, or under such Act aa amended
ic) Obligaticns of the United Siatea Issued on or before Sep-
tember 1, 1917 _
(d) Treasury Notes, Trcaeur>' Bills, and Treasury' Ccriificat-.-s
of Indcbtcdncsa, issued prior to March 1, 1941
(c) United States Savings Beads and Treasury Bonds oniied in
the principal amount of S5,000 and under, issued prior to
March 1, I94I
(/) United States Savings Bonds and Treasury Bonds on-ned in
the principal amount of over $5,000. issued prior to
March 1, 1941 ^
(g) Obligations of instrumentalities of the United States (other
than obligations to be reported in line (6) above) issued
prior to March 1, 1941..- _
(A) Obligations issued on or after March I, 1941,_by the United
i nf trumentality thereof. (Sub-
States or any e
mit schedule).^ •
(i) Loans, notes, morltiftges, bank dcposilii, etc
Dividends on stock of:
(u) Domestic corporat_[ons subject to taxation under cliaptei
i Code"
of the Internal Rcvcnt
(6) Foreign corporations
(c) Other corporations -
Rents. (Attach schedule) ^
ToT.^L Income in Items 1 to 3 (extend total to column 3)..
DEDUCTIONS
, Interest wholly vscmpt from tax
percent of the mean of the reserve funds (line 6, Schedule A>.
, Two percent of the reserve held for deferred dividend.-*
, Investment expenses. (Attach schedule)
Real estate exijtnses.. -
Depreciation. (Attach schedule) _ - -
Interest on indebtedness...
Net operating loss deduction, (.\ltach statement)
Total Dsddctions in Items 5 to 13 (extend total to column 3)..
Net income (it<.m 4 minus item 14) _
Less: Inttrcat partially exempt from tat ...
Adjusted net income - ^
Less: Dividends received credit (85 percent of item 2(a), but
Normal-tax net income - _— -
. Foreign company normal-tax net income ( percent of it^m 19). (St-e Schedule A, line
of 85 percer* of item 17)..
COMPUTATION OF TAX
NORMAL TAX COMPUTATION
col 2
A^'SSt'^
s
15%
17%
19%
37%
S
23. Portion of item 2! (in excess of 55,000 and not in excess of 320,000); and tax at 17
M. Portion of item 21 (in excess of S20,000 and not in excess of 525,000); and tax at 19
— ^
26. Total normal tax (total Ux in column 3 of items 22, 23, 24, and 25)
7777
777.7
S . ...-
27. Normal-tax net income (item 19 or 20, whichever is applicable) ^ -
S
-^
s -1 t 1
24%
SURTAX COMPUTATION
$
6%
7%
30. Less: Dividends received credit (85 percent of item 2 (a), but not in excess of 85
s
32. Portion of item 31 (not in excess of $25.000) ; and tax at 6 percent.
33, Portion of item 31 (in excess of S25.000); and tax at 7 percent
s
34, Total surtax (tcJVal Ux in columii 3 of itenid 32 and 33) _
S
35. Total income lax (item 1*6 or 28 plus iu-m 34) „
36. Less: Credit for income taxes paid to a foreign country or United States poascssion allowed a domestic corporaUon....
s
—
>7. Balance of income tax due . - -
s
—
STATISTICS OF INCOME FOR 1941, PART 2
Sdwdul. A^RESERVE FUNDS
..B.ca™„o,T.x..L.y^
1 End or Taxabu YUR
S- -
$-
1
4. Total of columns 1 and 2, bb shown in line 3, above „ S-.
S- Mean of the reserve funcb for the taxable year (one-half of line 4) $..
6 percent of the mean of the reserve funds, as shomi io line 5. (See loBtructJon 6) _ $,,
7. Total reserve funds of foreign companies at end of taxable year upon business within the United States. (Attacb atatemeat) $..
8. Percentage which line 7 is of line 3, column 2 <compute a fraction of 1 percent to three decimal figures)
Schedule B.— INVESTED ASSETS BOOK VALUES
LIFE DEPARTMENT
OTHER DEPARTMENTS
l-BECWmNOOfTlIABLBYEAB
2. ENt> or Taxable VEAR
a. DE0.S-K.no O.TAlABLEYCAa
«. E.<oorTttuiL.Via.
•P
4. Policy loar^, includinfi premium notes..
7. Government obligations, etc.:
ia) OblifiatioiisotaStot'^.TorTitofy. or political
(6) Obligations jwucd pncr to Miirch 1. iWi.
:::::
W OWiBUions of iho United gtatas Issued on
W) Trcasurj Notes, Treasury Bills, aad Treas-
ury Certiflcatas ol lodcbtedDcss, Issued
(e) UnltedSUUisSavlDtsBoDdsBnclTreasurj
Bonds OKTied Id tEe principal otnouni or
(0 DniledStatosSftvlMsBcndsand Treasury
Bonds owned Id the principal amount o[
over S5,0OO, issued prior to Marcti 1, IMI..
(0) ObUgtttlons or Instrumentalities of the
United Stat«9 (other than obligation.' to
— ■
.......
—
9. Other interest-bearing assets (attach
statement) ^
10. Totals of Lines 1 to 9
s
s
$
11. Total of column,
12. Mean of the invested £
13. One-fourth of I
EXCESS PROFITS TAX, (See Instructions for Form 1121)
(a) Is an e^ccess profits tax return on Form 1121 being filed for the taxable period covered by this return?
(b) A corporation joining in the making of a consolidated excess profits tax return should indicate below the name and address of the corporation which
is filing the consolidated excess proGts tax return for the entire affiliated group, and the collector's oflficc in which the consolidated return is being
aed..
(c) If
profits tax return is not being filed for the reason that it is claimed that the excees profits net income compttted under the invested
capital method is not greatpr than S5,000, tho following Schedule C should be filled iu. The completion of Schedule C does not constitulA the
^hedule C^EXCESS PROFITS NET INCOME COMPUTATION
1. Noniial-tax n
2. 50 percent of
3. ToTAi, OF Lir
4. Less: Di
? (item 19 or 20, first pape) .
ID borrowed capital
■(:d credit adjustment (it
2, first page, excluding dividenda (actual or constructive) on stock
of foreign personal-holding companies, minus itcra 18, first page) ™.
Excess profits net income (for purpose of determining necesKity for filinc return) ^ _
QUESTIONS
1. Date of iacorporatic
, State or country ..
3. Did the company file a
taxable year? .
, State the amount of deferred dividend funds at the end of the taxable
yeor, exclusive of any amount held for payments during the following tax-
able year: $
6. Did (a) you own at any time during the taxable year 50 percent or
more ol the voting stock of another corporation, either domestic or foreign?
; or {&) did any corporation, individual, partnership, trust, or
Msociation own at any time during the taxable year 50 percent or more
of your voting etocK? If either answer ia "yes," attach sep-
arate schedule showing: (1) Name and address; (2) percentage of stock
owned; (3) date stock was acquired; and (4) the collector's office in which
the income tax return of such corporation, individual, partnership, trust, or
aasociation for the last taxable year was filed.
6. Did the company make a return of information on Forms 1000 and
1009 for the calendar year 1941 (see General Instruction H)?
(Answer 'Taa- or "no")
7. Did the company at any time during the taxable year own directly
or indirectly any stock of a foreign corporation? — (If
answer is yes," attach statement required by General Instruction J.)
8. Did the company pay to any officer or employee of the company,
salary, commi.<ision, bonus, or other compensation for personal services
rendered, in an aggregate amount in excess of $75,0007 ..' (If answer
is "yea," attach Schedule F-I.) (See General Instruction 1-3.)
9. Do you elect under section 42 to include as income received In the
current year the inoreaso for the current and prior years in redemption price
of noninterest-bearing obligations issued at t
so, attach statement listing obligations owned
AFFIDAVIT. (See Inatructioi
We, the underMlgned, president (or vice president, or other principal ofncer)_ond trea
corporation for which thia return is made, being ecverolly duly e
•ehcdules ond statemenU) has b.-cn t . - .
faith, for the taxable year stated, ]>i.
6ubHcril>«d and sworn to before
r assistant treasurer, c
is fetu , „ , - - -1
ict, and comploto return, made in good
(I'leciaiura ol
(Title)
(8Uta Ulto)
I Offloei')
AFFIDAVIT. (See Instruction E)
I/wf> Fwear (or adlrm) that I/wo prcporcd this return for the person named heroin and that the return (Including any accompanying Bohoduica and
•tatcmento) in a true, correct, nn<l complete atatement of all the information rcupcctlng the tax liability of the person for wbopi this return hoa been
pjvparcd of i\hir)i l/wt; liave any knowledge.
Htibterlbed and Bworii to l»cforo u>e this day of _ , 191..
(eicnttiu
>t pertoD praparlDf lb* rvttun)
(SIgnatvn ol pwMD pmartni Ibe nturo}
(Nuno ot Oral or employet. II tay)
STATISTICS OF INCOME FOR 1941, PART 2
337
1941
INSTRUCTIONS FOR FORM 1120L
UNITED STATES INSURANCE COMPANY INCOME TAX RETURN
(References are to the Internal Revenue Code, unless otherwise noted)
1941
Taxpayers will find it heipful to read the General Instructions A to L before commencing to fill in their return*
GENERAL INSTRUCTIONS
A. COMPANIES REQUIRED TO HLE A RETURN
Every domestic life iosurancc company and every foreipn life
company carrying on an insurance business within the Unit«i States or
holding reserve funds upon hu-;ines.s transacted within the United States,
(including
• funds, shaU file a
! property or busin
I thi>i furtn. (See sections 201 to
income for such corporalinns. If a rfCi-lvor h.is full custody of and coni
over the business or propfrty of a corporal ion, he shall be deemed to
operating such bissincss oc^proprrty, whether he is engaged in carrying
B. PERIOD COVERED
The return shall bt- for the calendar year ended December 3t, 1941, s
the net income computed on the calendar year baj^L? in accordance w
the Stale laws regulating insurance companics.
C. BASIS OF RETURN
etum on this form shall be rendered on a ca-
) basis in conformity with the annual .-1
Department, instead of the 8
D. TIME AND PLACE FOR FILING
The return must bo sent to the collector of internal i
district in which the company's principal p!ac<
~ r agency is located, s
) reach the collector's office c
y president, or other
March 15. 1942.
E- AFFIDAVrrS
The return shall be sworn to by the president,
principal officer, and by the treasurer, assistant
lug officer.
^Vhere the return is actually prepared by some person or persons other
than officers or enployees of the company, such person or persona oiust
execute the affidavit at the foot of the second page.
P. PAYMENT OF TAX
The tax should be paid by sending 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 office.
The tax must be paid in full when ihe return ia filed, or in four equal
installmcrits, as follows: The first installment shall be paid on or before
March 15, 1942; the second installment on or before June 15, 1942; the third
installment on or before September 15, 1942; and the fourth installment
on or before December 15, 1942.
If any installment is not paid on or before the date fixed for its payment,
the whole amount of the tax unpaid shall be paid upon notice ana demand
by the c-oUector.
G. PENALTIES
For failure to make and file a retom on time. — Five percent
percent of the amount of the taT, unless such failure is due to
cause, and, in addition, where failure ip willful, a fine of not more mun
SIO.OOO, or imprisonment for not more than 1 year, or both, together with
25
isonablc
the
I.?/ P'
For wiiirunr attempting to evade or defeat payment of the tax. — Not
more than SIO.OOO, or imprisonmcn t for not more than 6 yeare, or both,
together with the costs of prosecution.
For deficiency doe to negligence or fraud. — Five percent of the amount
of the deficiency if due to oegligence or intentional disregard of rules and
regulations without intent to defraud, or 50 peneot of the amount of the
deficiency if due to fraud.
H. INFORMATION AT SOURCE
Every insurance company shall make
with respect
year (a)
3n Forms 1096 and 1099
d, cn-dited, or distributed during the calendar
salaries or other conipenj^tion for personal services, totaling
citi2en or resident, or (6) as inlcrc t, rent, premiums, annuities, or other
fixed or determinable income totaling S750 or more to a fiduciary, a
domestic or resident partnership, or a citizen or resident. The return on
Forms 1096 and 1099 shall also include dividend payments amounting to
.?100 or more during the calendar year to each shareholder who is an
individual (citizen or resident of the United States), a resident fiduciary,
or a resident partnership any member of which is a citizen or resident.
The forms will be furnished by any collector of internal revenue upon
request. Such returns of information covering the calendar year 1941
must be forwarded to the Commissioner of Internal Revenue, Returns
Distribution Section. Washington, D. C, in time to be received not later
than February 15, 1942.
I. INFORMATION BY CORPORATIONS
I-l, Conlemplaled dissolution or liqaidation. — Every corporation shall,
■ y3 after the adopti
dissolution of the
whole or any part of it.s capital s
to the Commissioner, verified under oath, setting forth the tcrnu of such
resolution or plan. (See section 148(d).)
1-2. Dislribulions in liquidation. — Every corporation shall, when
required by the Commissioner, render a correct return, duly verified under
oath, of its distributJoiLs in liquidation, stating the name and address of
each shareholder, the number and class of shares owned by hiin, and tho
amount paid to him or, if the distribution is in property other than money,
the fair market value (as of the date the distribution is made) of the
property dijtributed to him. (See section 148(c).)
1-3. (Compensation of officers and employees. — If the company paid U>
any officer or employee during the taxable year compensation for personal
services in excess of 375,000, Schedule F-1 (copies of which may be
obtained from the collector of internal revenue) must be filed, IN DU-
PLICATE, ^s-ith and as part of the return.
J. STOCK OWNEBSraP IN FOREIGN CORPORATIONS
If the company owned any stock of a foreign corporation (including less
than 5 pcrcen^of the stock of a foreign personal holding company), it
should attach to its return a .■statement setting forth the name and address
of each such company and the total number of shares of each class of out-
standing stock owned by it during the ta.\able year. This statemeot
should be fumiahed in addition to the schedule required by Specific Instnio-
tion 2. If the company o^^iied stock at any time during the taxable year
in a foreign personal holding company, us defined in section 331, it must
include in its return as a dividend the amount required to be included in
its gross mcome by section 337. IE the company owned 5 percent or more
in value of the outstanding stock of such foreign personal holding com-
pany, it should set forth in an attached statement id complete detail tho
information required by section 337(d).
K. ANNUAL STATEMENT
A copy of the annual s
the National Convention of Insurance Conimi.s.si
as filed with the Insurance Department of the St
of Columbia, which shows the re.-;ervcs used i
reported
e companies adopted by
lers for the year 1941,
e. Territory, or District
together with copies of Schedule A (real estate)
and Schedule D (bonds and stocks), must accompany the return. Similar
copies for the preceding year must also be furnished, if not filed with the
return for the previous year.
L. UST OF ATTACHED SCHEDULES
Attach a list of the schedules accompanying the return, giving for eack
; and address of oom-
SPECIFIC INSTRUCTIONS
The followbig (nstnictlonB are aombered to eon-espond with item nnmbers on the first page of the retom
1. INTEREST
Enter interest received from all sources during the taxable year. Interest
on bonds is considered income when due and payable. See section 42 with
respect to the increase in redemption price of obligations issued at a dis-
count, and Question 9 as to the election to treat such increase aa income
received in the taxable year,
2. DIVIDENDS
Enter as item 2(a) the amount received as dividends from a domestic
eorporatioo which is subject to taxation under chapter 1 other than a cor-
poration entitled to the benefits of section 251 and other than a corporation
organized under the China Trade Act. 1922. Enter as item 2(6) dividends
from foreign corporations. Enter as item 2(c) dividends from all other
corporations. Submit schedule, itemizing all dividends received during
the year, stating the names and addresses of the corporations declaring
the dividends and
ved from each.
which is allowed as a credit a^s^inat net u
6. PERCENTAGE OP THE MEAN OF THE RESERVE FUNDS
Enter the amount reported on line 6, Schedule A. There may be
deducted from gross income an amount equal to 4 percent of the mean
of the reserve funds required by law and held at the beginning and end of
the taxable year, except that in the case of any such reserve fund which
Is computed at a lower iDterest assumption rate, the rate of 3>i percent
shall be substituted for 4 percent. Life insurance companies issuing
poUcies covering life, health, and accident insurance combined in one
pKjlicy issued on the weekly premium payment plan, continuing for life
and not subject to cancelation, shall be aUowcd, in addition to the above,
a deduction of 3% percent of the mean of such reserve funds (not required
by law) held et the beginning and end of the ta.\able year, as the Com-
missioner finds to be necessarv for the protection of the holders of auch
poUcies only. (See section 203(a) (2) .)
7. TWO PERCENT OF THE RESERVE HELD FOB DEFERRED
DIVIDENDS
, Enter an amount equal to 2 percent of the reserve held at the end of
the taxable year for deferred dividends Ibc payment of which is deferred
for a period of not less than 5 years from the date of the policy contract.
Do not include in such re8er\-e dividends payable during the following
taxable year.
Ekiter expci ^ ._ . - . . . ,
pensea, the total amount of which, if there t>e any allocation of general
338
STATISTICS OF INCOME FOR 1941, PART 2
mit a schedule s
herein, the minoi
(«) (4).)
I beiny grouped i
(See i
I 203
9. TAXES
.Enter taxes paid exclusively upon real estate owned by the company
nlid taxes assessed acainst individual shareholders and paid bv the company
without reimbursement as proviHcd in !^ction 203(n) (5). . t)o not include
taxes assessed against local benefit? of a kind tending to increase the value
of the property assrssfd as for pavin;;. sewers, etc. For limitation on
deduction, see section 20;i (b).
10. REAL ESTATE EXPENSES
Enter all ordinary and ni'Cos:nry building rsppnses, such as (ire insurance,
heat, licht, labor, etc., and Iho co^t of incidental repatre which neither
matcri^-tly add to the value of the property nor appreciably prolong its
life, but keep it in an ordinarily eiticient operating condition. Do not
include any amount paid out for new buildings or for permanent improve-
■ i made to increa-^e the value of any propert;
II. DEPRECIATION
The amount deductible on account of depreciation is an amount reason-
ably measuring the portion of the JDvestment in depreciable property
by reason of eshauption, wear and tear, or obsolescence, which is properly
chargeable against the operations of the year. In any event the deduction
is limited to the depreciation on the property that is used, and to the
extent iL-^ed, for the purpose of producing the income specified in section
202(a). If the property was acquired by purchase on or after March 1,
1913, the amount of depreciation should be determined upon the basis
of the original cost (not replacement cost) of the property, and the probable
iiuniber of years remaining of its expected useful life. In case the property
was purchased prior to March 1, 1913, the amount of depreciation will
be det'-rmintd in ttio same manner, except that it will be computed on its
original cost, less depreciation sustained prior to March 1, 1913, or ita
fair market value as of that date, whichever is greater. If the property
was acquired in any other manner than by purchase, sec section 114.
The capitnl 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, must have due regard to opcreting conditions during
the taxable >ear, and should be described in the return.
If a deduction is claimed on account of depreciation, a schedule should
be filed with the return showing: (1) Kind of property; (2) date acquired;
(3) cost or other basis; f4) assets fully depreciated in use at end of taxable
year; (5) depreciation allowed {or allowable) in prior years; (C) remaining
cost or other basis to be recovered; f7J estimated life used in accumulating
depreciation; (S) estimated remaining life from beginning of year; and (9)
depreciation allowable for the taxable year. In case obsolescence is in-
cluded, state r^eparately amount claimed and basis upon which it is com-
puted. Cost or value of land must not be included in the schedule, and
where land and buildings were purchased for a lump sum the cost of the
In the schedule sliould be reconciled with those i
the books of the taxpayer.
Stocks, bond^, and like securities are not subject to depreciation within
the meaning of the law. (See sections 23(1). 114, and 203(a) (6).)
For limitation on deduction, see section 203(b).
12. INTEREST ON INDEBTEDNESS
Enter the amount of interest paid during the taxable year on the com-
pany's indebtedness, except on indebtedness incurred or continued to
purchase or carry obligations (other than obli^atioQ:^ 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. Intci-cst
paid on dividends hela on deposit and surrendrred during the taxable
year should be included in this item. Do not include any interest paid
on deferred dividends on which a deduction wa." allowed under item 7.
If a life insurance company pays interest on the proceeds of life insurance
policies left with it pursuant to the provisions of supplementary contracts
not involving life continRcncics, or similar contracts, the interest so paid
shall be allowed as a deduction from gross income, except that such deduc-
tion shall not be allowed in respect of interest accrued in any prior taxable
year to the extent that the company has had the benefit of a deduction of
13. NET OPERATING LOSS DEDUCTION
Net operalinft loss. — A net operating loss is sustained by a corporation
if and to the extent that, for the preceding taxable year, there is an excess
of deductions allowed by chapter 1 over gross income, both computed with
the following exceptions and limitations;
(1) The deduction for depletion shall not exceed the amount which
would be allowable if computed without reference to discovery value or to
percentage depletion under section 114(b) (2), (3), or (4);
(2) There snail be included in computing gross income the amount of
interest received which is wholly exempt from taxes imposed by chapter 1,
decreased by the amount which is not allowed as a deduction by section
23(b), relating to interest on indebtedness incurred or continued to purchase
or carry certain tax-exempt obligations;
!3) No net operating loss deduction shall be allowed; and
4) The amount deductible on account of long-term capiUl losses shall
cot exceed the amount includible on account of the long-term capital gains,
and the amount deductible on account of short-term capital losses shall
not exceed the amount includible on account of the ehort-tcrm capital gains.
Net operating loss deduction in the case of life insurance companies. —
In cOmputiiig a net operating loss of an insurance company subject to tax
linpoecd by section 201, "gross income" shall mean grosa income as defined
in section 202ra) and the allowable deductions shall be those allowed by
section 203, with the following exceptions and limitations:
(1) The deduction for tax-free interest provided by section 203(a) ehall
Dot be allowed in excess of the amount of interest paid which is not Edlowed
a net operating ross) for the first preceding taN^able year over the net operat-
ing lo-'W for the third precedint^ taxable year.
Net operating loss deduction. — The net operating loss deduction for a
taxable year is the net operating loss carry-over to such year, computed is
prescribed in section 19.122-4, Regulations 103, reduced bv the exces.s of
the net income for such taxable year (computed in accordance with the
same limitations and exceptions as are applicable in the computation of a
net operating loss) over the normal-tax net income computed without
regard to the exception-; and limitations .•specified in sections I9.I22-2 and
19.20S-1, Regulations lO-t, except that no net operating loss deduction shall
year shall file with its return for such year a concise statement setting forth
the amount of the net operating loss deduction claimed and all materiol and
pertinent facU relative thereto, including a detailed schedule showing the
comput:;'ion of the net operating loss deduction.
14. TOTAL DEDUCTIONS
fa) Enter the total of items 5 to 13. inclo.-;ive.
(6) Rental value of real estate.— The deduction included in items 9 to
11 on account of real estate owned and occupied in whole or in part by the
company shall be limited to an amount which bears the same ratio to such
deduction (computed without regard to subsection fb) of section 203) aa
the rental value of the space not so occupied bears to the rental value of
the entire prcpertv. (Submit detailed schedule.)
(c) Items not aeduclible. — No deduction is allowable for the amount
of any item or part thereof allocable to a class of exempt income, other
than interest. Items directly attributable to such exempt income shall be
allocated thereto, and items directly attributable to any class of taxable
income shall be allocated to such tameable income. If an item ia indirectly
attributable to both taxable income and exempt income, a reasonable pro-
portion thereof, determined in the light of all the fads and circumstonces
in each eivse, shall be allocated to each. Apportion men Us must in all cases
be reasonable. A taxpayer receiving any exempt income, other than in-
terest, or holding any property or engaging in any activity the income
from which is e^onipt shall submit with its return as a part thereof an
itemized statement, lu detail, showing (1) the amount of each class of ex-
empt income, and (2) the amount of items allocated to each such class (the
amount i^llocated by apportionment being shown separately).
16 and 18. CREDITS AGAINST NET INCOME
Enter as. item 10 the amount of interest included in gross iaoocnc which
is partially exempt frora»taxation under the provisions of section 22(b) (4),
and dividends on share accounts in Federal savings and loan associations,
which dividends should bo included in item 1 (i).
Enter as item IS, 85 percent of the amount received as dividends from a
domestic corporation which is subject to taxation under chapter 1, except
2! to 34. COMPUTATION OP TAX
Normal tax. — ;VI1 life insurance eompanie-i (including foreign life Insurance
companies carrying on an insurance business within the United Suites) are
subject to the tax imposed by section 201 (b) (I), The following tabic shows
the normal tax imposed by section 201 (b) (1), upon certain specified a
If normal-tax net income is. The normal tax shall be:
Not over $.1,000 157e of the normal-tax net income
Over $5,000 but not over $20,000 $750 plus 17% of excess over $5,000
Over S:o,000 but not over $25,000 $3,300 plus 19% of excess over
The term "normal-tax net income" means the adjusted net income
linu:^ the credit for dividends received provided in section 26(b).
; of a foreign life insurance company carrying
insurance business witl " " " '
credits prov^ided in section 26fa) and (b) which the rc.w'rve funds required
by law and held by it at the end of the taxable year upon business transacted
in the United States bear to the reserve funds held by it at the end of the
taxable year upon all business transacted.
Surtax. — The term "surtax net income" means the net Income minus
the credit for dividends received provided in section 26(b), computed by
limiting such credit to 85 percent of the net income in lieu of US percent of
the adjusted net income.
The surtax imposed by section 15fb> !s 6 percent of the amount of tho
surtax net income not in excess of $2.'^,000. and 7 percent of the amount of
the surtax net income iu excess of $25,000.
S8. CREDIT FOR TAXES
If credit is claimed for income, war-profits, and excess-profits taxes'pald
to a foreign country or possession of the United States. Form 1118, togotboi
with the receipt for each such t
return. A foreign company la n
STATISTICS OF INCOME FOR 1941, PART 2
339
Form 1121
Treasury Department
Intenul Revenue Semci
UNITED STATES
CORPORATION EXCESS PROFITS TAX RETURN
For Calendar Year 1941
cr fiscal year faegimiiag ., 1941, and ending _ , 1942
1941
CORPORATION'S NAME AND ADDRESS
Duilnet
lerul niunber e
e 1. Form 1123..
(Caibkr'B lUBf)
Ca«h Check M. O.
(i) Stala or country
cturn for the taxable year w.i3 filed _
;o, procure from the collector Form SjIC, AfTilialions Schedule, which shall be filled ii
3 profits Qct income iote
(a) Date of incorporation
(c) Collector's ofhcc iu which your iiic
(d) Is this a consolitlatcil icturn?
filed as a part of this return,
(c) Iu compiitinij the excess profits credit uodcr the iuvcsted capital method, do you elect to include in e
governjQcnt obligations specified in section 22 (b) (4) of the Internal RevcQuo Code?
(J) Are you .in acquiring corporation of a qualified component corporation aa defined in section 740 cf the Internal Revenue Code? .
Lud if you were actually in t
preiicribed in section 742 in lieu of.Lhc J
(j) Arc you a traii'sferor or transferee upon q
bcfiinning a.'ttr December 31, 19S9? . .
c before Jan
,' 1, 1940, do you elect to computo the average base period net income under the method
SPECinC DISCLAIMER
Unleea you specifically disclaim in U) or {2) belov) dl'ier the errdil computed under the ineomi method or the credit computed under Ike inicated capital
i-j .-. .■ -^-'-y that bolh Schedules I and 1 1 and br-thSckedvUs A and D he computed before this form loiU be considered as a ntum. {The foregoing
cri-tmcc prior to January I, iO^O. If you are a foreign eorporalion, see also Instruction 22 (a).) For c^ecl e^ dia-
_ ^ ^ e of the credit computed under section 713 — the income method? ..„
(2) Do you diii.;.iijn tiie use of the credit computed under section 714 — the invested capital method?
IF YOU HAVE XOT DISCLAIMED ONE ME'fllOD. SCHEDULES J, II, A, AND B MUST BE COMPLP.TED.
EXCESS PROHTS NET INCOME COMPUTATION
"uonNo. "' SCHEDULE I. EXCESS PROFITS CREDIT BASED ON INCOME
Normal-tax net income (computed without dcductioa of excess proGU lax) (item 34 less items 37 and 39,pagol, Form! 120) .
Add: Net long-term capital LOSS (item II (fc), page 1, Form ll^C) „
Total of items 1 and 2 _
Less; Net long-term capital GAIN (item II (6), page 1, Form 1120)._ ...i..,
Net GAIN from sale or c.chanpc of depreciable property held more tlian 18 montlis ..
Income frcm relircmcnt or discharge of bonds, etc - .--
Refunds and interest on Acricjltuuil Adj'istmont Act taxca
Recoveries of r.ad dcMH._ --. -
Dividends received cicdit r-dju^fiiu rt Uotal of rohimns 2 and 1, Schedule E. Form 1120,
1 II .""))..
Abn.
Total of itcit
. Excess profits
nali
, etc., (kducliun.)
ribulabic to oth<
nt)-
) 11-.
net income computed under income credit method (item 3 minuj item 12) - -
SCHEDULE U. EXCESS PROFITS CREDIT BASED ON INVESTED CAPITAL
Amount . if item 13 ^
, Add: 50 percent of interest on lK)rro\.ed capital -
Interest on govcrmnent obligatiors. (Sec Question (c) above for election)
Tolcl of items 14 to, IC . - -'-
Less; Dividends received credit adjustment (total of colum
constructive) <
asset)
i profiLs net income computed under
sted capital credit method (it
EXCESS PROFITS TAX COMPUTATION
k 13 c
1 ]9, whichever is applicable)..
Less: Specific exemption
Excess profits credit. (From Schedule A or B, whichever
amount results in the lesser tax, unless the use of one
of the methods has been disclaimed above; or from
Schedule B If the corporation ia required to uso the
invested capital method)^
Excess profits credit carry-over. (Attach statement)
m 24 (not
Adjusted (
Portion of
Portion of item 24 (
, Portion of item 24 (i
, Portion of item 24 (i
, Portion of item 24 (i
, Portion of item 21 i
?], 22, and 23).
40 percent -
45 percent.
50pcrcent-
. income (item 20 minu;
excess of $20,000); and
a of 520,000 and not in
s of 850,000 and not in e
sofSIOO.OOOandnotini
aofS2M,000andnotin
;s3 of $500,000) ; and ta;
, Excess profits tax (total tax in column 3 of itemi
section 710 (a) (2) is applicable, attach schedule
EO computed as item 31)
. Amount, if any, due to application of section 734.
, Total excess profits tax (line 31 plus line 32)
Less: Credit for income taxes paid to a foreign country or United States possession
1 computing item 42, page 1, Form 1120 -
t the sum of itci
tax at 35 percent. __
»xccs3ofS50.000);and taxi
xcces of $100,000) ; and lax i
L-xcrss of $250,000) ; and tax
excess of $500,000) ; and tax
c at GO percent
1 25. 26, 27, 28, 29, and
showing cumputati
ichangcs to which
under that si
ich schedule)..
Bala:
;of c
ipro.
t (or vice president, or other principal officer) and treasurer (or assistant treasun
; made, being severally duly sworn, each for himself deposes and says that this r
schedules and ctatcments) has been examined by him and is, to t^ho best of his knowledge and belief, £ ' "
Subscribed and s
I/wc swear (or affirm) tiiat I/wc prepared this return for the person named herein and that the
statements) is a true, correct, and complete slateracnt of all the information respecting the exec
return hns been prepared of which I/we nave any knowledge.
Subscribed and sivorn to before me this day of , 194. ..
340
STATISTICS OF INCOME FOR 1941, PART 2
Schedule A.— EXCESS PROFITS CREDIT— BASED ON INCOME. (See iDstrnction 22 (£>))
TAXABLE YEAHS BEOrNNINO AFTER DECEMBER 31, IBM, AND BEFORE JANDAHY ». IhO
(li additlooiJ columiia vo required, attach sep&rato »:t>«dulu)
LlnaNo.
\'""_^".",..
3. Yeab Endkd
*;'■"• ^™^,
S
$
2. (a) Net capital gain used in computing lioe 1
lb) Net capital loss used in computing line 1_
3. Difference between lines 1 end 2(a) (if a net capital gain), or
UtA\ of liDea 1 and 2(&) (if a net capital loss)
4. Add: Seairrtles wblch are otplul taoets deducted In coiainitliiK Ilea 1 u
S. Net ehort-term capital gain (see Instruction 22 (6) (1)
7. Net g&ki troin sale or oicbanee of property other than capital BSSOts
8. Total of lines 3 to 7 _
s
s
$
s
-
$
$
10. Net loss from solo or cMhonne of properly other tliao capllol
11. Total of lines 9 and 10
s
$
—
$
s
—
12. Normal-tax (or Hpecial-class) net income (after applying
J
s
14. Deductions on account of retirement or diachurgo of
17. (a) Abnormal judgment liabilities, etc. fattach etatoment) ..
(b) Abnormal expenditures for intangible drilling and
18. Capitaliiation of erpcnditurea for advertising or pro-
19. Net long-term capital loss. (See line 9, above)
20. Total of Unes 12 to 19
s
$
S
s
s_
24. Net gain from Eale or exchange of depreciable
property held for more than 18 months
25. Total of lines 21 to 24. .-^
S -
S - -
$ - .
S-
26. Excess profits net income (line 20 minus line 25)
$
s
s
s
27. Net aggregate of columns 1, 2, 3, and 4 (eeo Instruction 22 (.
) (4) (B) for computation of deficit in
excess profita net income
$
28. Average base period net income — General average (line 27 divided by number of months in base p
eriod, multiplied by
21 ..
»■-
(Fm In Ux«« 29 to :S for wmpntaltoE. or .reragc b*»« wrtod uet in«M »hc« thc« -c« I.M«n»d ^
.»™ serial
$
20. Net aggregate of columns 3 and 4 (see Instruction 22 (b) (4) (C) regarding deficit
income and limitation regarding taxable year ending after May 31, 1040)
30. Net aggregate of columns 1 and 2 (ace Instruction, lino 29)
c e:icess protita net
* -
34. Lino 33 divided by number of months in second half of base period, multiplied by 12 —
35. Average base period net income — Increased earnings in last half of base period Oino 34 or the highest
excess profita net income for anv taxable year in the base period, whichever is lesser) —
37. Net capital addition $ ; or net capital reduction S
(attach schedule).
39. bms profiU rr»dit— buul od iotooe (\m JG plsi lioa SK, if t ntt npltsi iddiliOD)
>t liii IE ciiii \m
3S. 11 1 D«i apiUI re-iottion)
$
ZZ
Schedole B.— EXCESS PROnTS CREDIT— BASED ON INVESTED CAPITAL. (See Instruction 22 (c))
Line No. Equity Invested Capital at the Beginning of the Taxable Year
1. Money paid in for etock, or as paid-in Eurplua, or as a contribution to capital. _
2. Property paid in for stock, or as paid-in surplus, or as a contribution to capital
3. Distributions of earnings and profits in stock of the corporation
4. Accumulated camioga and profits _
6. Increase on account of gain on tax-free liquidation. _
6. Total of Uncs 1 to 5 _ _ ^
7. Less: Distributions made prior to the taxable year not out of accumulated earnings and profita..
8. Earnings and profits of another corporation required to be deducted by section 718 (b) (3).
9. Reduction on account of Ions on tax-free liquidation {not in excess of line 4)
10. Total of linea 7 to 9 „
11. Equity invested capital at bfginTiing of taxable year Oinc 6 minus Vine 10) _
an to Equity Invested Capital. During the Taxable Year
1 surplus, or as a contribution to capital -
□tribulion to capital.
Average Addit
12. Money paid in for etock, or aa paid-i
13. Property paid In for etock, or as pai(
14. Distributions of eamingx and profits (other than earnings and profita of the taxable year) In stock of
the corpomtior ' '
a 20, below),
15. Increaac on account of gain on tax-free Uquidulion
16. 25 pcrci'nt of New Capital (see Instruction 22 (c) (1) (F) for computation of New CapiUl)
17. Total addiUonn in lines 12 to 16 ,
18. Total of lines II and 17 „
Average Reduction in Equity Invented Capital During the Taxabte Year
19. Diatributlona not out of earnings and profita of the taxable year
20. Stock difltributiona from accumulated earnings and profits at beginning of year (see line 14, above)
21. Reduction on account of loss on tax-free liquidation (see line 9 for limitation)—
22. Total reductions lolinoa 19 to 21 „.„
23. Average equity Inveated capital (lino 18 mlnua lino 22) „
24. Average borrowed capital (attach ochcdulc) -....
26. Average borrowed Inverted capital (50 percent of line 24)
36. Average Inverted capital (Une 23 plua line gfi) ,, , ,
27. Total inadmlMlblo aaseta. „ . „ ,
28. Total admlulble and Ino/Imfiiaiblo aaiiota „ . ^.... ......._.
20. Percentage which lino 27 la of tlno 28 ,
30. Reduction on account of Inadmiulblu aaaeta ( percent of llofl 26)
31. Invegtod capital (linn 20 rainua iJno 30) _ ,
32. Portion of line 31 (not In exccu of ■'(6,000,000); and credit at 8 pcreoot
33. Portion of Uno 31 (In cxof-aa of (5.000,000); and credit at 7 percent ......
34. Exetw proflta errdUr— baard on Invcatcd capital (lino 82 pli
STATISTICS OF INCOME FOR 1941, PART 2
341
1941
INSTRUCTIONS FOR FORM 1121, UNITED STATES CORPORATION EXCESS PROFITS TAX RETURN
(Beferences are l« hxizsnal Rerexra&<^c^ vaiess otherwise Boted. and refercoees to Regnlatkms 109 arc to Reffulafions 109 as amended
b) Treasory I>edaons 5045. 505?, and 5092)
GENERAL LNSTKUCTIONS
BiifiH be attached to tiie toneoUdated return, aa e part thereof; and
the other shall be filed, at or before the time the consolidated return
is Sled, iQ the office of the collector for the district prescribed for
tiic filing of a stparate return by such subsidiary. No such consent
can be ftitUdrawn or revoktd at any time after the concoUdated
return is filed.
A. CORFOBATIONS WmCH HTTST MASE K2HTE.5 ON FORM
1121.—
(IJ General rale,— Every corporation required by eection 52 to
iraks a return, having an excess profits net iuc^n^e fcomputed andar
the invested capital credit method) of more Ulaq ^,000, e::cepl t^ie
foliowing corp jratioris, wbxh under the provisions of section 727,
are exempt from the escess profit* tax:
-pt am
I from the Itx bnpcsed by Cbapter L
(c) Ml
id) iDvesunenl c
g compamcs, as defined 1
;. S5 -Jfficed in sec::oD
uDdcr tte iDvestmcj
alt times during the t;
■Klihin the United StjOta
Z the conditions of section 777 (g) relating to ta-
i Kusiness therein
fcr ths LTivn:: port:: tier, of mail by & .
ipcnsstJOD? lu adjusted excess proQLE :
Acto: l&l^. fn iiie cross ItiroLiK of wbic
iktion received (rocc Lbc L3i;£d StsU:;
•xdiidior froin its^rossijnomesurhco
bx sucb vi::^ if Mi'j or I|fs.
(2) Exempt corr* orations. — A corporaticr which has established
its ri^ht to esempucn from :i:coa;e tax need net a^aji establish it^
right to exemption from excess profits tix. A corporation which
has not eslabiished its right to exemption fi'om income tax and
which claims exemption is required to establish its right to exemp-
tion from income tax in order to be held exempt from excess profits
tax.
A corporation which claims exemption itnder paragraphs (t), (c),
(rf), (e). or (/), abov^, shall file with its income tax return a state-
ment j.hcv,-ing under what paragraph it claims exenption*
A corporation which claims exemption under paragraph (g),
above, shall attach to its income tax return a statement showing for
the 3-year period immediately preceding the close of the taxable
year (or for such part thereof during which the corporation was m
existence) (o) it« tcLal gross income from ell sources, (b) the ajuount
thereof de-rived from tne active conduct of a trade or bucincsc, (c) a
description of such trade or business and the facts upon which the
corporation relies to establish that such trade or business wag
actively conducted by it, and (d) the amount of its gross inccmc
from sources within the United States. The gross income f: >m
iBources within the United States shall be determined as provided in
section 119 and the provisions of Regulations 103 relating thereto.
A corporation which claims exemption under paragraph (ft),
above, shall attach to its income tax return a statement showing
<o) that it is subject to the provisions of Title IV of the Civil
Aeronautics Act of- I93S, (6) the amount of the compensation
included in the gross income of the corporation as compensation
received from the United States for the transportation of mail by
aircraft, and (c) the amount of its gross income, net income, excess
profits net income, and adjusted excess profits net income, after
excluding from its gross income the amount of such compeosation.
As to the statute of limitations where no return is filed, see sec-
tions 275 (a) and 276 (a).
B. CONSOLIDATED EETDENS.—
(1) Privilege to file Consolidated returns.— Section 730 gives
to the corporations of an affiliated group (as defined in section
730 (d)) the privilege of making a consolidated excess prpfita tax
return for the taxable year in lieu of separate returns. This priv-
Q^e, however, is given upon the condition that all corporations
which have been members of the affiliated group at any time during
the taxable year for which the return is made consent to Regulations
110, and any amendments thereof duly prescribed prior to the last
day prescribed by law for the fijing of the return; and the making
of the consolidated return is considered as such consent. The last
day prescribed by law for the filing of the return includes the last
day of the period of any extension of time granted by the Com-
missioner.
The privilege of making a consolidated return under Regulations
110, for any taxable year of an afliliated group must be exercised at
the time of making the return of the common parent corporation for
Buch year. Under no circumstances can such privilege be exercised
at any time thereafter.' The filing of separate returns for a taxable
year does not constitute an election binding upon the corporations
In subsequent years. If the privilege ia exercised at the time of
making the return, separate returns cannot thereafter be madp for
>uch year.
(2) Consolidated retorn made ,bj common parent corpora-
tion.—A consolidated return shall be made on Form 1121 by the
common parent corporation for the aflSliated group. Such return*
■hall be filed at the time and in the office of the collector of the
district prescribed for the filing of a separate return by such cor-
poration.
(3) Authorizations and consents fiJed by snbsidiarics.— Each
subsidiary must prepare duplicate originals of Form 1122E, con-
senting to Regulations 110, and authorizing the common parent
corporation to make a consolidated return on its beha3f for the
tariblc year and authorizing the common parent (or, in the event "
of its failure, the Commissioner or the collectorf^ make a con-
solidated return on its behnlf (as long ae it remains a member of
the affiliated j^u'ipl. for cacii year thereafter for which, under seo-
lion 33.11 i<).' i^i^fiiilatiuns 110, the making of a consohdated
returnisr^qui.''.^. One of such forms ae prepared by eacti subsidiary
(4) A^liatioiaa schedule fiied by common parent corporation. —
The common parent corporation shall prepare Form 851 E (/Jfilit-
tions Schedule), wliioh shall be attached to the consolidated return,
as a part thereof,
(5) Statements and schedules for subsidiaries. —The statement
of gross income and deductions and tnc several scheuuies recjuired
by the instructions on the return must be prepared and filed by tho
common parent corpofRiion in columnar form so that the detaiU-
of *he items of gross income, deductions, invested capital, and
credits, fon^each member of the affiliated group may b3 readily
audited.. Such statements and sched'-iles shaj] include in, columnar
form a reconciliation of surplus for each such corporation, together
with a reconciliation of the cousoUdated surplus. Consoiidated
balance sheets as of the beginning and close of the taxable year o:
the group, taken from the books of the members of the group, shall
accompany the consolidated return prepared in a form piTrJiWr i»
that required for reconciliation of surplus.
JC. PERSONAL SZfiVlCE COSPOEATION.—
(1) Taxation of persona! service corporations.— A personal service
corporation is subject to the excess profits tax the same as any other
domestic corporation unlera it elects as to any taxable year not to
be subject to sych tax. If the corporation elects not to be subject
to the excess profits tax, the provisions of Supplement S (sections
391 to 396, inclusive) shall apply to the shareholders in such cor-
poration who were such chareholders on the last day of the laxable
year of the corporation. See section 19. 394-1 of Regulations 103.
In such case, the amount of the undistributed Supplement S net
income shall be considered as paid in to the corporation as of the
close of the taxable year as paid-in surplus or as a contribution to
capital, and the amount of accumulated earnings and profits as of
the close of such year shall be correspondingly rwiuced. See section
394 (d).
(2) Definition of personal service corporation.— The term "per-
sonal service corporation" means a domestic corporation in which
capital is not a material income-producing factor and tho income
of which is to be ascribed primarily to the activities of shareholders
who (a) are regularly engaged in the active conduct of the affairs of
tlie corporation, and (6) are the owners, throughout, the entire
taxable year, of at least 70 percent in value of each class of stock of
the corporation.
If 50 percent or more of the gross income of a corporation con-
sists of gains, profits, or income derived from trading as a principal,
such corporation cannot be considered to be a personal service
corporation.
(3) -Eeturns.— If a corporation cl:i.iming to be a personal service
corporation signifies in its return under Chapter 1 for any taxable
year its desire not to be subject to the excess profits tax under
Subchapter E of Chapter 2 for such taxable year, it shall attach
Form 1121PS, in duphcate, to its income tax return on Form 1120.
D. FOREIGN CORPORATIONS AND CORPORATIONS EN-
TITLED TO BENEFITS OF SECTION 251— INVESTED CAPITAL.—*.
In the case of a foreign corporation engaged in trade' or business
within the United States or having an othce or place of business
therein, and in the ca£e of a corporation entitled to the benefits of
section 251, the invested capital for any tax'itble year shall be deter-
mined in accordance with the provisions of section 30.724-1 of Rcgu-*
latious 109.
E. CORPORATIONS COMPLETING CONTRACTS TTNDER MER-
CHANT MARINE ACT OF 1936.— Section 726 provides for an
alternative tax in the case of a corporation which has been certified
by the United States- Maritime Commission to the (Commissioner as
having completed within the taxable year any contracts or subcon-
tracts subject to tffe provisions of section 505 (b) of the Merchant
Marine Act of 1936, as amended.
The alternative tax is in lieu of the excess profits tax computed
under section 710 but only if such alternative tax is less than the tax
under such eection. Such alternative tax is the excess of (1) a ten-
tative tax computed under section 710 with the normal-tax net in-
come increased by the amount of any payments made, or to be made,
to the Commission with respect to contracts or subcontracts the
completion of which during the taxable year has been certified to the
Commissioner by the Commission, over (2) the amount of such
payments.
A corporation claiming t^ie benefit of section 726 shall attach to
its excess profits tax return (1) a certificate of the Commission show-
ing each contractor subcontract subject to the provisions of section
50aib)*hich the corporation has completed within the taxable yeai*
and (2) a statement showing the amount of payments made, or to be
made, to the Commission with respect to such contracts and sub-
contracts. (See section 30.725-1 (d) of Regulations 109.)
F. TIME AND PLACE FOB FILING EETPRNS AND INFOE-
MATION TO BE INCLUDED.— Returns must be filed on or b^for*
the 15th day of the 8rd month following' the close of the taxable
year with the coUector for the district in which the corporatioo'a
342
STATISTICS OF INCOME FOR 1941, PART 2
?rincipal place of business or prindpal oflSce or agency is located,
n the case of a foreign corporation engaged in business within the
United States but not having an office or place of business therein
the return shall be filed on or before the 15th day of the 6th month
following the close of the taxable year with the Collector of Internal
Revenue, Baltimore, Md. WTiere a consolidated excess profits tax
return is filed by an affiliated group of corporations, such consoli-
dated return must be filed with the collector with whom the income
tax return of the common parent corporation is filed.
Any taxpayer required to file a return is entitled to have its excess
profits tax credit computed under section 7!3 or section 714, which-
ever credit results in the lesser excess profits tax, and such return
shall (unless the taxpayer states therein that it disclaims the use of
one of the credits) contain computations of the credits computed
under section 713 and section 714 and the excess profits net '
computed with the credit under section 7l3 and the excess profits
net income computed with the credit under section 714, and shall
contain all the information required by such form and by regulations
with respect to such computations. A taxpayer stating in its return
that it disclaims the use of one of the credits in the computation of
the excess profits tax for the taxable year may omit from the return
the computation and information upon which such disclaimed credit
would be based.
G. TIME FOR PAYMENT OF TAX.— The tax must be paid in
full when the return is filed, or in four equal installments on the 15th
day of the 3d, 6th, 9th, and 12th month, respectively, following
the close of the taxable year. If any installment is not paid on or
before the date for its payment, tlie whole amount of the tax
unpaid shall be paid upon uoticc and demand by the collector,
SPECIFIC INSTRUCTIONS
The following instructions are numbered to correspond with item numbers on Ihe first page of return
1. Normal-tax net income.— Enter the norraal-tas net
the taxable year computed in accordance with the provisions of
Chapter 1, exrept that the deduction for excess profits tax shall not
be allowed. The normal-tax net income tnuy be. a minus quantity
'for the purpose of computing the excess profits net income, if and to
r the extent not attributable to a net operating loss deduction.
2. Net long-term capital loss.— Section 711 (a) (1) (B) provides for
the exclusion of net long-term capital losses. Enter the amount of
loss shown in item 11 (6), page 1, Form 1120.
4. Net long-term capital gain. — Section 711 (a) (1) (B) provides
for the exclusion of net long-term capital gains. Enter the amount
of gain shown in item 11 (6), page 1, Form 1120.
5. Net gain from sale or exchange of depreciable property held
more than 18 months. — The excess of the gains from sale or exchange
of property held for more than IS months which is of a char-
acter which is subject to the allowance for depreciation provided in
section 23 (1) over the losses from salfe or exchange of such property
is excluded in computing excess profits net income. (See section
711 (a) (1) (B).)
6. Income from retirement or discharge of bonds, and so forth. —
Section 711 (a) (1) (C) provides for the exclusion of income derived
from the retirement or discharge by the taxpayer of any bond, de-
benture, note, or certificate or other evidence of indebtedness, if the
obligation of the taxpayer has been outstanding for more than
18 months. Including, in case the issuance was at a premium, the
amount includible in income for such year solely because of such
retirement or discharge.
In making the adjustment the term "indebtedness" includes in-
debtedness assumed by the taxpayer even though such indebtedness
is evidenced, so far as the taxpayer is concerned, only by q contract
(which has been outstanding for more than 18 months) with the
person whose liabilities have been assumed. Also, a renewal obli-
gation is to be considered to be outstanding for more than 18 months
if the original obligations and the renewal obligations taken to-
gether have been outstanding for a total of more than 18 months.
The term "other evidence of indebtedness" does not include open
account book entries.
7. Refunds and interest on Agricultural Adjustment Act taxes. —
Section 711 (a) (1) (D) provides for the exclusion of income attrib-
utable to refund of tax paid under the Agricultural Adjustment
Act of 1933, as amended, and interest upon any such refund. The
refunds of Agricultural Adjustment Act taxes include only those
made under Title VII of the Revenue Act of 1936 and refunds made
to processors under section 15 (a) of the Agricultural Adjustment
Act as reenacted by section 601 of the Revenue Act of 1936.
8. Recoveries of bad debts.— Section 711 (a) (1) (E) provides for
the exclusion of income attributable to the recovery of a bad debt if
a deduction with reference to such debt was allowable from gross
income for any taxable year beginning prior to January 1, 1940.
The pi-ovisions of that section are not applicable in the case of a tax-
payer using the reserve method of treating bad debts as provided in
eections 19.23 (k)-l and 19.23 {k)-5 of Regulations 103.
9. Dividends received. —Section 711 (a) (1) (F) provides that the
credit for dividends received fchall apply, without limitation, to
dividends on stock of domestic corporations.
The amounts of djvidends>received on stock of domestic corpora-
tions are shown in columns 2 and 4. Schedule E, Form 1120. The
dividerda received credit allowed in computing the normal-tax net
income is shown as item 39, page 1, P'orm 1120. The difTereuce
between the amount of dividends received on stock of domestic
corporations and the credit allowed should be entered in this item.
10. Addiiional charitable, etc., deductions.— Section 711 (a) (1)
(G) provides that in determining any deduction the amount of
which is limited to a percentage of the taxpayer's net income (or net
income from the property), such net income (or net income from the
property) shall be computed without regard to the deduction on ac-
count of the excess profits tax.
11. Abnormal income attributableto other years.— (a) Abnor-
malities in income in taxable year.^rSection 721 provides relief where
abnormal income for any excess profits tax taxable year is attrib-
utable to other taxable years. The term "abnormal income" means
income of any class includible in the gross income of the taxpayer
for any excess profits tax taxable year (1) if It is abnormal for
the taxpayer to derive gross income of such clasa, or (2) if the tax-
payer normally derives gross income of such class but the amount of
<ucb Income of such clasa is in excess of 125 percent of the average
amount of the gross income of the same cUaa determined for the
four previous taxable years or, if the taxpayer was not in existence
for four previous taxable years, the taxable years during which the
taxpayer was in existence. It is abnormal for a taxpayer to derive
income of any class only if the taxpayer had no gross income of that
class for the four previous taxable years. For the purpose of de-
termining abnormal income under this paragraph the gross income
of the class for the previous taxable years is not to be increased or
decreased by any allocation under the provisions of section 721.
Abnormal income is to be determined by considering classes of in-
come, and not merely particular items.
Abnormal income must be adjusted, as provided in section 721 (a)
(3), in order to determine net abnormal income. Net abnormal in-
come must then be allocated to the various items included in ab-
normal income. The items of net abnormal income so determined
are the amounts which may be attributed to other taxable years
under Regulations 109. Net abnormal income and the allocated
amounts which are items of net abnormal income are determined in
the following manner:
(1) Net abnormal income is determined as follows:
(A) The abnorm.al income of each class is computed;
(B) Such abnormal income is then reduced by 125 percent of tha
average amount of the gross income of the same class for the four
previous taxable years or, if the taxpayer was not in existence for
four previous taxable yeirs, the previous taxable years during which
'it was in exist^ce;
(C) The abnormal income is further reduced by an amount which
bears the same ratio to the amount of any direct costs or expenses,
deductible in determining the normal-tax net income for the taxable
year, through the expenditure of which such abnormal income was
in whole or in part derived, as the abnormal income, reduced as
provided in (1) (B), bears to the abnonnal income. The amount
thus determined ia the net abnormal income.
(2) The items of net abnormal income are determined aa followa:
(A) Each item of abnormal income is reduced, but not below
zero, by an amount equal to 125 percent of the average income, if
any, for the four previous taxable years, arising out of the same
property as the income represented by the item;
(B) Each item of abnormal income is further reduced, but not
below zero, by an amount which bears the same ratio to the amount
of any direct costs or expenses, deductible in determining the normal-
tax net income for the taxable year, through the expenditure of
which such item was in whole or in part derived, as the amount of
the item of abnormal income reduced in (2) (A) bears to the amount
of the item of abnormal income;
(C) The aggregate of the items as reduced under (2) (A) and (B)
is determined;
(D) Net abnormal income is allocated to each item in the proper*
tion that the item, reduced as provided in (2) (A) and (B), bears to
the aggregate of the items so reduced, determined in (2) (C). The
amount so allocated is an item of net abnormal income.
(^) Separate classes of incorrCt. — Each of the following subpara-
graphs sftall be held to describe a separate class of income:
(1) Income arising out of a claim, award, judgment, or decree,
or interest on any of the foregoing; or
(2) Income constituting an amount payable under a contract the
performance of which required more than 12 months; or
(3) Income resulting from exploration, discovery, prospecting,
research, or development of tangible property, patents, formulae, or
processes, or any combination of the foregoing, extending over a
period of more than 12 months; or
(4) Income includible in gross income for the taxable year rather
than for a different taxable year by reason of a change in the tax-
payer's accounting period or method of accounting; or
(0) In the case of a lessor of real property, income included in
gross income for the taxable year by reason of the termination of the
lease; or
(6) Income consisting of dividends on stock of foreign corpora-
tions, except foreign personal holding companies.
Income which does not fall within the above classes may be
grouped by the taxpayer, subject to approval by the Commissioner
on the examination of the taxpayer's return, in such other classes as
are reasoiiable in a business of the type which the taxpayer conducts,
and S3 are appropriate in the light of the taxpayer's business expert-,
euce and accounting practice.
All the income which reasonably is classifial^le in more than one
class shall be classified under the one which the taxpayer irrevocabl/
STATISTICS OF INCOME FOR 1941, PART 2
343
elects. Such election shall be made hi the mozmer prescribed tn
aection 30.721-3 of ReGCulstions 109.
The classification of income in any year most be consistent wfth
the classification maile under section 721 for prcrioua years. This
classification must also be consistent with any classification made
in applying to the ta:^payer section 722 or section 711 (b) (1)
(H). (I), or (J).
(c) Slalemeni reguired.^A taxpayer claiming the benefits of sec-
tion 721 shrill file with its cicess profits tax return a detailed state-
ment in duplicate containing the following information:
(1) the amount and a description of each class of income claimed
to be abnormal, and the amount and a description of each item in
each such class;
(2) for each class of income claimed to be abnormal, the amount
and a description of each item of income of the same class derived
during the four taxable years immediately preceding the taxable
year, and the aggregate amouat of such items foreach taxable year;
(3) for each cbss of income claimed to be abnorm-al the amount
of net abnormal income, the amount of each item of net abnormal
income, and the computations by which these amountB were deter-
mined; ^
(4) the transactions in which each such item had its origin, the
method used in allocating such item, the amount allocated to each
year, and the reasons therefor; and
(5) all other facts upon which the taxpayer relies.
If any item of income is re.asonably classifiable in more than one
class, the inclusion of such item in any one of snch classes in the
statement referred to above shall consutute an irrevocable election
by the ta.'^payer for the purpose of section 721 (a) C2).
(d) Computation oj tax for eurreni taxable year. — TTio excess profits
tax for the taxable years^iallbe the smaller of the following amounts:
(1) The excess profits tax computed n-ithout excluding from gross
income any amounts attributable to ether years under section 721;
or
(2) The sum of (A) the excess profits tar for the taxable year
computed without including in gross income the amount of items of
net abnormal income attributable to other taxable years, and 'B) Uie
aggregate of the amounts of additional excess profits tax" which
would have resulted for previous excess profits tax taxable years if
the gross income for each such taxable year had Ijeen increased by
the inclusion therein of the amount of items of net abnormal income
attributable thereto.
For an illustration of the computatiotis, see the example in section
30.721-6 of Regulations 109.
For computation of tax for future taxable years, see section
30.721-5 of Regulations 109.
13. Excess profits net income computed luider income credit
method. — The amount entered in this item represents the excess
profits net income computed under the income credit method. Two
methods are provided for determining the excess profits net income
for the taxable year. One method, that provided by sec-
tion 711 (a) (1), is to be used if the excess profits credit is computed
under section 713, which credit is referred to in Regulations 109 as
the income credit. The other method, that provided by section
711 (a) (2), is to be used if the excess profits credit is computed
under section 714, which credit is referred to in Regulations 109 as
the invested capital credit. As to corporations entitled to use the
excess profits credit based on income or the excess profits credit
based on invested capital, whichever credit results in the lesser
excess profits tax, and corporations required to use the excess
profits credit based on invested capital, see sections 712 and 741.
For instructions regardit-g computation of excess profits net
in'comc if taxable year is a period of less than twelve months, see
Instruction 31.
14. Excess profits net income if invested capital, credit is used, —
If the excess profits credH for the taxable year is* computed under
section 714, the normal-tax net income for snch year shall be ad-
justed as provided in section 711 (a) (2). Snch adjustments are the
same as the adjustments proyided in section 711 (a) (1) except that
additional adjustments are required' to be made as specified in the
following paragraph and in Instructions lo, 16, and IS.
Section 711 (a) (2) (A) provides that in computing the excess
profits, net income \mdcr the invested capital method, the credit
for dividends received shall apf)ly, wUhoirt limitation, to all
dividends on stock of all corporations, except dividends (actual or
rnnstruciive) on stock of foreign personal-holding companies, and
dividends on stock which is not a capital asset, such as stock held
primarily for sale to customers by a dealer in securities. Since the
adjustment to norjnal-tax net income provided- in section
711 (a) (1) (F) (see item 9, page 1) eliminated from normal-tax net
income the excess of dividends received on stock of domestic corpo-
rations over the credit for di\'idend3 received provided in section
2G (b), a further adjustment is necessary, by dealers in securities,
to re.«;to:c, for the purpose of computJug the excess profits net
income imder the invested capital method, the excess of the divi-
dends on stock of domestic corporations which is not a capital asset
over the dividends received credit applicable to such dividends.
15. Fifty percent of interest on borrowed capital. — Section
711 (a) (2) (B) provides that the deduction for interest shall be
reduced by an amount equal to 50 percent of so much of such
interest as represents interest on the indebtedness included in the
daily amounts of borrowed capital (determined under secUon 719 (fi^}
Page S
16. Interest on gOTemment obligations. — Section 711 (a) (2) (G)
provides that ihe normal-tax net income shall be increased by an
amount equal to the amount of interest on obligations held during
the taxable year which are dtacribed in section 22 (b) (4), any part
of the interest from which is excludible from gross income or allow-
able as a credit against net income, if the corporation has elected
under section 720 (d) to treat such interest as taxable for excess
profits tax purposes. The term **interest" inchides, in the case of
obUgations issued at a discount, so much of such discount as
(for purposes of determining gain or loss upon sale or other disposi-
tion) is treated as interest in the hands of the taxpayer for the
taxable year.
18. Section 711 (a) (2) (A) provides that the credit for dividends
received shall apply, without limitation, to all dividends on
stock of all corporations, except dividends (actual or construc-
tive) on stock of foreign personal-holding companies, and dividends
on stock which is not a capital asset. In addition to the adjust-
ment made under item 9, page 1, iiiere should be excluded from
the total of column 3, Schedule E, Form 1120, the sum of (a) divi-
dends (actual or constructive) on stock of foreign personal-holding
comjjanies, and (b) dividends received on stock which is not a
capital asset as defined in section 117, such as stock held primarily
for sale to customers by a dealer in securities, the remainder to be
entered as item IS.
20. If the exce^ profits Credit for the taxable year is computed
onder section 713 (relating to the excess profits credit based on
income), the amount of excess profits net income to be entered is
item 13. If, however, the excess profits credit is computed under
section 714 (relating to the excess profits credit based on invested
capital), the amount of excess profits net income to be entered is
item 19.
22. Excess profits credit. — (a) AUotctance. — Two methods are
provided for computing the excess profita credit: (1) The income
method under which the credit is computed as provided in section
713, and (2) the invested capital method under which the credit is
computed as provided in section 714.
In the case of the following corporations, the excess profits
credit for any taxable year shall be the credit based upon income,
computed as provided in section 713, or the credit based on invested
capital, computed as provided in section 714, whichever cr&lit
results in the lesser tax for the taxable year for which the tax ifl-
being computed:
(1) A domestic corporation which was actually in existence before'
January 1, 1940.
(2) A domestic corporation which is an "acquiring corporation**
within the meaning of section 740 of Supplement A and which was
constructively in existence at the beginning of its base period. (For
computation of excess profits credit based on income in such cases,
see sections 740 to 744.)
(3) A foreign corporation (A) which ia engaged in trade or
business within the United States, or has an office or place of bosi*
ness therein, at any time during the taxable year; (B) the- first
taxable year of which for the purposes of the excess profits tax
begins on any date in 1940; (C) which was in existence on the day'
48 months prior to such date; and (D) which, at any time during
each of the taxable years in such 48 months, was engaged in trade
or business within tiie United States, or had an office or place of
business therein. As to what constitutes being engaged in trade or
business within the United States, see section 1,9^1-1 of Regula-
tions 103.
If a taxpayer dieclaims in ita return for a particiilflr taxable year
the use of either credit, the credit bo disclaimed shall not, for the
purposes of the internal revenue laws, be applicable to. tiie coni-
putation of the tax for the taxable year with ccspect to which the
disclaimer is made.
A domestic corporation which was not actually in existence before
January 1, 1940, and which was not constructively in existence oa
the date of the beginning of its base period, and a foreign corpora-
tion which does not meet the requirements of (3) above, are required
to compute their credit under the invested capital metnod provided
in section 714.
EXCESS PROFITS CREDIT BASED ON INCOME
(b) Excess profits credit based on JTKomc. — Determination of aver^
age base period net income of a corporation which was in existence
during the entire base period. — In order for a corporation to
determine the amount of its excess profit^ credit based on income
for any particular ta.xable year, it is necessary first to compute the
amount of the average base period net income, 95 percent of which
js the starting point for computing the excess profits credit based
on income. If the corporation was in existence during the entire
4S months preceding the beginning of its first excess profits tax
taxable year, the excess profits net income for each of the taxable
years in the base period is to be determined as provided in section
711 (b). The taxable years in the base period are those beginning
after December 31, 19S5, and before January 1, 1940. For a
taxable year beginning after December 31, 193r snd before January
1, 193S, the starling point in the determination of the excess profits
net income is the normal-tax net income, as defined in section 13 (a)
of the Revenue Act of 1936. For a taxable yeai; beginning after
December 31, 1937, the starting point is the special-class net income,
as defined in section 14 (a) of the Re\*enue Act of 193S and the
Internal Revenue Code.
The normal-tax net income or the special-class net income, as the
case may be, is to be adjusted first as required by secUOQ 7X1 (b) (2>
And then as required by sectioa 7U (b> (1^
344
STATISTICS OF INCOME FOR 1941, PART 2
Paget
(1) Section 711 (b) (2) provides that the normal-tax net income
and the special-class net income shall be computed as if section
23 (a) (2) and section 23 (k) (2) (relating to securities becoming
worthless) , and section 1 17 (relating to capital gains and losses) were
Dart of the revenue law applicable to the taxable year the excess
profits net income of which is being computed, witn the exception
Uiat the net short-ternr capital loss carry-over provided in sutv
eection (e) of section 117 shall be applicable to net short-term
capital losses tor taxable years beginning after December 31, 1934,
Such exception shaU not apply tor the purposes of computing the
excess profits ta.x for any taxable year beginnmg before January J,
*^he adjustments required by section 711 (b) (2) may be made by
filling in the data caUed for in lines 1 to 12, inclusive. Schedule A.
(2) Section 711 (b) (1) provides that the normal-tax net income
«nd the special-class net income after applying the provisions of
section 711 (b) (2) shall be adjusted as required therein The
adjustments are listed below in the order m which they appear in
Schedule A, lines 13 to 24, inclusive.
(A) Dividends received credit— Section 26 (b) ot the applicable
revenue law provides for the allowance of a dividends received
credit to the extent indicated in the various sections imposing tax,
while section 711 (b) (1) <G) provides that the credit for dividends
received shaU apply, without hmitation, to dividends on stock o
domestic corporations. Provision for the sublracuon of the total
amount of dividends received from domestic corporations is made
"> !'■"= 22. ^. ^ ,u A
(B) Deductions on account of retirement or discharge of bonds,
and so forth.-lf during the taxable year the taxpayer retires or
discharges any bond, debenture, note, or certificate or other evidence
o indebtedness, if the obligation of the taxpayer has been out-
BUnding for more than 18 months, the following deductions for
Riirh taxable year shall not be allowed;
m T^e deduction aUowable under section 23 (a) for expenses
naid or incurred in connecUon with such retirement or discharge;
(ii) The deduction for losses aUowable by reason of such retire-
•" mVln^se'tfTe ^"uance was at a discount, the amount deduct-
ible for such year solely because of such retirement or discharge.
In making the adjustments provided m section 711 W (D l"'-
the deduction allowable for any premium paid on bonds when
called for redemption shaU be disallowed, but the deduction aUow-
able for anv discount amortized up to the dale ot retirement or
discharEe shall not be disallowed. Expenses incurred in issuing
bonds which are amortized shaU be treated in the same manner as
discounts, r^ . .. j
(O Casualty, demolition, and similar losses— Deductions under
section 23 (0 for losses arising from fires, storms shipwreck or
rther casualty, or from theft, or arising from the demoUtion
abandonment; or loss ot useful value of property, not compensated
lor by insurance or otherwise, shaU not be allowed.
(D) Repayment ot processing tax to vendees.- The deduction
uii-'er section 23 (a), for any taxable year, for expenses shall be
decreased by an amount which bears the same ratio to the amount
deductible on account of any repayment or credit by the corpora-
tion to its vendee ot any amount attributable to any tax under the
Agricultural Adjustment Act of 1933, as amended, as the excess of
Uie aggregato of the amounts so deductible m the base period over
the alSregate of the amounts attributable to taxes under such Act
^Ue^d from its vendees which were includible in the corporation s
™s income in the base period and which were not paid, bears to
Uie aggregate of the amounU so deductible in the base penod.
(E) (i) Paymentotjudgmcnt^andsoforth.— Deductions attrib-
utable to any claim, award, judgment, or decree against the tax-
payer, or interest on any ot the foregoing it abnormal tor the
taxpayer, shaU not be aUowdd, and it normal tor the taxpayer but
f^ excess Of 125 percent ot the average amount of such deductions
in the tour previous taxable years, shaU be disallowed in an amount
equal to such excess;
(ii) Intangible drilling and development costs.— Deductions at-
tributable to intangible driUing and development costs paid or
incurred in or tor the drilling ot weUs or the preparation of wells for
the production ot oil or gas, and tor develppment «>sU in the case
of mines, it abnormal tor the taxpayer, shaU not be allowed and
U normal tor the taxpayer but in excess of '25 Percen' of the
averase amount ot such deductions in the tour previous taxable
yearrshall be disaUowed in an amount equal to such excess; and
(iii) Abnormal deductions.— Deductions ot any ctos shall not be
allowed it deductions ot such class were ''b""^.^' '" '';^„^^3\"'
and if the class ot deductions was normal '"'.^^fZ/rt'tc^ t^
Avluftinns ot such class were in excess ot 125 percent ot tne
^r4e amount of deductions of such class tor the tour previous
texab^ years, they shaU be disaUowed in an amount equal to such
'"irconnection with the adjustments '■<><l"i^jd to be made by
section 711 (b) (I) (H), (I), and J), (paragraphs (E), (i), (u), and
mo above), sec section 30.711 (t)-2 ot Regulations 109.
(iv) SUtemcnl required.— It in computing its excess profit^ net
Income for alaxable year in the base period, the taxpayer claims
IhcS^sairowanceunde'r section 711 (b)(1) (H), (I) or (J) ot any
amount p?rviou«ly allowed as a deduction, there shall be submitted
a full statcmenl showing the computation of the amount to be
diiilowed.t^e prices and gross sales of the taxpayer's product, and
the condition of the taxpayer's business which demonstrate that the
disallowed amount is not a consequence of an increase in the gross
incorfie ot the taxpayer in its base period ora decrease in the amount
ot some other deduction in its base period, and is not a consequence
of a change at any time in the type, manner of operation, size, or
.condition of the business engaged in by the taxpayer. This state-
ment shall be in duplicate and shall include the following; (1) The
computation ot the amount disaUowed, showing the amount of the
class of deductions in the base period taxable year tor which aiiy
part; ot such amount is disf.llowed, the average amount of such cla^s
for the four preceding taxable years or for such taxable years as the
taxnavcr is required to use in determining this average amount,
and the excess amount of deductions disaUowed; (2) a descnption
and the amount of each item included in such class of deductions
for the taxable year tor which such deductions are disallowed and
tor the taxable years in the test period, with the amount of each
and a description thereof; (3) the amount of such class and the
amount and description ot each item in that class for the taxable
year for which the excess profits tax is bemg computed; and (4j au
other facts upon which the taxpayer relics.
(F) Capitalization of expenditures tor advertising or proinotion
of good will.— Any taxpayer may, for the purpose of computmg its
excess profiU credit undcreither the income or the invested capital
method, elect to charge to capital account any deductions based
upon expenditures for taxable years in its base period on account
of advert,ising or the promotion ot good will, to the extent that such
expenditures may be regarded as capital investments, bectioa 733
nrovidas for an election with reference only to deductions for such
expenditures for taxable years in the base period. In order to
secure the benefits ot that section, a taxpayer shall make its election
within 6 months after the date prescribed by law for fiUng its return
for its first excess profits tax taxable year.
(G) Long-term gains and losses.— There shall be excluded long-
term capitS gains and losses. There shall be exc uded the excej^
of gains from the sale or exchange ot property held tor more than 18
months which is ot a character which is subject to the allowance tor
depreciation provided in section 23 (1) over the losses from the
sale or exchange of such property. The adjustments required by
section 711 (b) (1) (B) may be made by entering in Schedule A,
line 19, the amounts of long-term capital losses; in ine i3 the
amounts ot the net long-term capital gains; and in line 24 the
amounts ot net gains from sale or exchange of depreciable property
held tor more than 18 months.
(U) Income from retirement or discharge of bonds, and so
forth —There shall be excluded, in the case of any taxpayer, mcome
derived from the retirement or discharge by the taxpayer of any
bond debenture, note, or certificate or other evidence of indebted-
ness, if the obligation ot the taxpayer has been outstanding for
more than 18 months, including, in case the issuance was at a
premium, the amount includible in income for such year solely
because of such retirement or discharge.
(3) Excess profits net income.— Computation of excess profits
net income tor portions of base period during which coTioration
was not in existence; applicable both under sections 713 (e) and
713 (f) —The base period ot a corporation which was in existence
during onlv part of the 4S-month period preceding the beginnmg of
its first excess profits tax taxable year is such penod of 48 months.
Section 713 (b) (2) provides a method tor determining the excess
nrofita net income tor such a corporation for that portion ot such
base period during which it was not in existence. For eacn taxablo
vetr of 12 months (beginning with the beginning of the base penod)
during which it was not in existence the excess profits net income is
8 percent of the corporation's daily invested capital (see section 717)
for the first day of its first excess profits tax taxable year reduced
on account ot inadmissible assets by the same ratio as would be
applicable under section 720 in reduction of its average invested
capital for the preceding taxable year. The excess profits net
income tor a taxable year ot less than 12 months consisting of that
part of the remainder of the base period during which it was not m
existence is a proportionate part ot such amount.
(4) Average base period net income. —
(A) In general.- Two Aethods are provided for determining the
average base period net income; (1) The general average method,
set forth in section 713 (e) and in section 30.713-1 (6) ot Regulations
f09 and (2) the method set forth in section 713 (f) and in sectioa
30 713-1 (<■) ot Regulations 109, applicable to cases in which the
earnings tor the last halt of the base period are greater than those
^r the first half, it such n'eU'od '■^si'ts i" » gi-c^tcr average base
period nerincome than that resulting from the use of the general
average method.
(B) Computation under the general average method.— The fol-
lowing ste^^f are required for the computation «/ the avomge base
period net income under the general average method (for computa-
tion ct excess profits net income for portions ot its base pcnod «lur-
ing which the corporation was not in existence, see section 30.713-1
'"(if Thfe'xe^" proIL net income for each of the taxable years in
the'ial peri^^L^rs beginning after December 31 1935 and before
January 1 1940) is to be determined as provided in section III (D).
(ii) The aggregate of the excess profits net income for the taxable
years in the base period, disregarding any taxable year to which
the excess profits net income is loss than zero, is to be computed.
(ifi) From such aggregate anumul there is to bo deducted the sura
of tie am^iiu by wMcb the deducUons plus the credit for dividend*
STATISTICS OF INCOME FOR 1941^ PART 2
345
received exceed the^ gross income for those taxable years for which
there is such an excess, except the year for which such excess is the
greatest. If there is such an nxcess for onJy one taxable year, there
ehall be no such deduction. In computini^ such excess the aniounta
of gross income, deductions, and credit for dividends received must
be adjusted to the extent required in determining excess profits net
income for the taxable years in the base period under aoction 711
(b). The credit for interest received allowed by section 26 (a),
though taken into riccount in computirig excess profits net income,
is not taken into a'^count in computing the excess referred to in this
paragraph.
(iv) Such aggregate amount as so reduced is to be divided by the
number of months in the taxable years m the base period and the
quotient so outained is to be multiplied by 12. In no case shall
the averagB base oeriod net income be less than zero.
(C) Coiiipuialion under section 713 (f) ; increased earnings ia last
half of base period. — The determination cf the base period net
income under the method set forth in section 713 (0 id operative
only if the aggregate excess profits net income for the last half of
the base period of ,the. ta-cpayer, reduced by the aggregate of the
deficits in excess profit3 net income for such half, is greater than
such af^gregate so reduced for the first half and the average base
period net income determined under section 713 (f) is greater than
the amount deteflftiined under section 713 (e). The following steps
are required for the computation of the average base perind net
income under the method set forth in section 713 (0:
(!) The excess profits net income or the deficit in excess profits
net income for each of the taxable years in the base period (years
beginning after December 31, •.935, and before January 1, 1940) is
to be determined as provided in section 711 \b). For the purpsse
of computing the average base period net income thereunder, section
713 (f) (7) provides certain limitations on the amount of the excess
profits net income for any taxable year in the base period ending
after May 31. lO-^O.
(ii) The base period is to be divided into halves.^ach of an equal
number of months. There is to be computed for each half of the
base period the aggregate of the excess profits net income for each
of the taxatale years in such half, reduced, if for one or more of such
years there was a deficit in excess profits net income, by the sum of
such deficits. In making this computation, & deficit in excess
profits net income fof any taxable year (or in the case of more than
one deficit, the greatest deficit) is not counted as zero as in the case
of the computation under the general average method de^^cribed in
paragraph (B) above. (See section 30.713-1 of Regulations 109
relative to.computation of the aggregate excess profits net income
for each half of the base period where the taxpayer, because- of
changes in its accounti.ig period or for other reasons, has more or
less than four taxable years in such period, or where part of one
taxable year is in the first half andlho other part is in the second
half of such period.)
(iii) The excess of the amount ascertained for the second half
over the amount ascertamed for the first half is to be divided by two.
(iv) The amount ascertained under paragraph (iii) is to be added
to the amount ascertained under [isragraph (ii) for the second half
of i-he base period.-
(v) The amount found under p.-iragraph (iv) is to be divided by
(he number of months in the second half of the base period and the
rcaulfmultiplied by 12.
(vi) The amount ascertained under paragraph (v) shall be the
average base period net income determined under the method set
forth in section 713 (f), except that the overage base period net
income so determined shall in no case be greater than the highest
excess profits net income' for any taxable year in the base period.
For the purpose of this limitation if any taxable year is less than
12 months, the excess profits net income for such taxable year shall
be placed on an annual basis by multiplying by 12 and dividing by
Ihe number of months included In such taxable year.
(5) General rule for adjustment of abnormal base* period net in-
come.— In computing the excess profits credit based on income, tax-
payers whose first excess profits tax taxable year begins in 1940
may, under the conditions stated in section 722 and subject to the
limitations thereof, obtain relief with respect to abnormalities in
their base period net income.
Section 722 sets forth the following specific tests which the tax-
payer must meet to obtain the benefit thereof:
(A) The taxpayer must first establish —
(i) that the character of it^ business engaged in as of January 1,
1940, was different from the character of itjS bi^iness engaged in
during one or more of the taxable years la its base period (as defined
in section 713 (b) (1)), or
(ii) that the normal production, output, or operation in one or
more of the taxable years in the base period was interrupted or
diminished because of events abnormal in the case of the taxpayer.
(B) The taxpayer must next establish the amount that would
have been its average base period net income —
(i) if the character of its business as of January 1, 1940, had been
the same during each of the taxable years of its base period, and
(ii) if none of the abnormal events referred to in (A) (ii) above
had occurred, and
(iii) if In each of such taxable years the gross income of any class
had not been abnormally Large and the deductions of any class had
not been abnormally small.
(C) The taxpayer must then show that the amount established
under (B) above is greater than the average base period net income
computed under sectioa 713 (d) or secUoa 74^, as the caae may be.
PaffeS
If the foregoing tests are met, then the amount established under
(B) above shall be csnsidsred as the average base period net income
of the taxpayer for the purpose of computing the taxpayer's excess
profits credit based on income. See, however, sections 30.722-4
and 30.722-5 of Regulations 109.
(6) Adjustments on account of capital change-?. — Under the in-
come method of determining the excess profits credit it is necessary
to make adjustments for capital clianges since the beginning of the
first excess profits t-ax taxable year.
Thc amount representing 95 percent of the average base period
net income which is the starting point in the computation of the
excess profits credit shall be increased by S percent of the net capital
addition or reduced by 6 percent of the net capital reduction. No
capital adjustments are permitted or required in the case of a foreign
corporation. Capital additions arc money and property paid in for
stock, or as paid-in surplus, or as a contribution to capital after the
beginning of the first excess profits tax taxable year, adjusted for
increases In excluded capital over the same period. Capital reduc-
tions are distributions since the beginning of the first excess profits
tax taxable year which are not out of earninc:s and profits. The
term "earnings and profits'* includes earnings and profits of the tax-
able year and the accumulated earnings and profits of the corpora-
tion, whether accumulated before, on, or after March 1, 1913. For
capital additions and reductions in case of certain reorganizations,
see section 743. Adjustments on account of capital changes are
illustrated by examples in section 30.713-2 of Regulations 109.
EXCESS PROFITS CREDIT BASED ON INVESTED CAPITAL
(c) Excess projUs credit based on invested capital. — Delcrmination
of invested capital. — Section 714 applies only to a corporation which
under section 712 is entitled or is required to compute its excesg
profits credit under the invested capital method.
It is necessary for a taxpayer using the invested capital method
in computing the excess profits credit to determine the invested
capital for the taxable year. This is not the invested capital at the
beginning of the taxable year but the average invested capital for
the taxable year, reduced by an amount computed under section
720, if the taxpayer owned any inadmissible assets during the tax-
able year. The average invested capital for the taxable year is the
aggregate of the daily invested capital for each day of the taxable
year, divided by the number of days in such taxable year. The
daily invested capital is the sum of the equity invested capital, as
defined in section 718, and the borrowed invested capital, as defined
in sectioa 719. The invested capital shall be computed in all cases
on a diily basis.
If, during the taxable year, a corporation is not involved in a tax-
free liquidation and neither receives new capital, whether paid in
or borrowed, nor makes any distribution other than out of earnings
and profits of the taxable year, nor retires indebtedness of the char-
acter includible in borrowed capital, its average invested capital for
the tAJtable year is an amount equal to its daily invested capital for
the first day of the taxable year.
In cases where the changes in invested capital are not numerous
during the taxable year, the determination of the average invested
capital may generally be simplified by taking the invested capital
as of the first day of the taxable year and adding thereto such por-
tion of each addition made during the year as the number of days
remaining in the taxable year after such addition bears to the total
number of days in the taxable year, and subtracting such portion of
each reduction of capital as the number of days after si^ch reductioa
bears to the total number of days in the taxable year.
(1) Determination of daily equity invested capital. — (A) Money
and property paid in. — The equity invested capital for any day is
determined as of;the beginning of such day. The basis or starting
point is found in the amount of money and property previously paid
in for stock, or as paid-in surplus, or as a 'Contribution to capital.
The terms "money paid in" and "property paid in" do not include
amounts received as premiums by an msurance (Company subject to
taxation under section 204. For the purpose of determining equity
invested capital, the amount of any property paid in is the unad-
justed basis to the taxpayer for determining loss upon a sale or
excliange under the law applicable to the taxable year for which the
invested capital is being computed. ^ If the property was di?p03ed
of before such taxable year, such unadjusted basis shall be deter-
mined as if the property were still held at the beginning of such
taxable year.
If the basis to the taxpayer is cost and stock was issued for the
property, the cost is the fair market value of such stock at the time
of Its issuance. If the stock had no established market value at
the time of the exchange, the fair market value of the assets of the
company at that time should be determined and the habilities
deducted. The resulting net worth will be deemed to represent the
total Value of the outstanding stock. In determining net worth for
the purpose of fixing the fair marliet value of the stock at the time
of the exchange, the property paid in for such shall be included in
the assets at its fair market value at that time.
If stock having no established market value is issued for intangi-
ble property, and it is necessary to determine the fair market value
of such property, the following factors, among others, may be taken
into consideration in determining such value: (i) The earnings
attributable to such intangible assets while in the hands of th6
gredecessor owner; and (u) any cash offers ifor the purchase of tha
usiness, includii^ the intangible property, at or about the time of
its acquiaition. A corporatiou claiming ft value for intangible prop-
346
STATISTICS OF INCOME FOR 1941, PART 2
erty paid fn for slock ehould file with its return a full statement of
the facts relating to such valuation.
If the property was acquired after December 31, 1920, by &
corporation from a shareholder as paid-in surplus or from any
person as a contribution to capital, then the basis shall be the same
as it would be in the hands of the traristeror if the transfer had not
been made. (See section 113 (a) (8).) If so acquired prior to
January L, 1921, the basis is the fair market value of the property
at the time it was paid in. If the basis i3 the transferor's basis,
then such adjustments shall be made as are provided in section
113 (b) (2) with respect to the^period before the property was paid in.
The fact that^the money or property paid in has been lost,
destroyed, or otherwise disposed of shall not reduce (he invested
capital, except as such facis are reflected in the earnings and profits
as of the beginning of the taxable year. As to cases with respect
to which the equity invested capital at the beginning of the year
cannot bb determined, see sec" ion 723. As to determination of
amount of property paid in for slock in connection with certain
excbanj^es, Fee section 751 (a).
Section 718 (c) (4), which provides that in certain cases stock
acquired by a corporation shall not be treated as property paid in
for stork, or as ])aid-in surplus, or as a contribution to capital, is
for the purpose of avoiding duplication in invested capital. Section
71S (c) (4) does not apply to a section 112 (b) (0) liquidation where
DO possibility of duplication exists.
(B) Accumulated earnings and profits. — (i) In general. — The
term "accumulated earnings and profits" is not defined in the
Internal Revenue Code. See, however, section 115 and the regula-
tions prescribed thereunder as to the effect of certain transactions
■on earnings and profits, and section 30.718-5 of Regulations 109 as
to the effect of the declaration and distribution of dividends. In
general, the concept of ''accumulated earnings and profits" for the
purpose df the excels profits tax is the same as for the purpose of
the income tax. See, for instance, tection 19.115-3 of Regulations
103, as amended, relating to the computation of earnings and profits
in the case of a corporation computing net income on the cash,
accrual, or installment basis, or in the case of an insurance^company
taxable under section 20t In computing accumulated earnings and
profits as of the beginning of the taxable year, a taxpayer keeping
its books and making its income tax returns on the acci;ual basis
Bhall subtract the income and excess profits taxes for the preceding
taxable year. If there is a deficit in the accumulated earnings and
profits as of the beginning of the taxable year, such deficit shall not
be taken into account in determining invested capital, and in such
cases the earnings and profits as of the beginning of the taxable
year shall be consirjcred as zero, but subsequent earnings aifid profits
ehall be applied against such deficit. Unrealized appreciation in
value of property is not a factor in determining earnings and profits.
(ii) Current earnings and profits. — Earnings and profits of any
taxable year cannot be included in the computation of invested
capital for that year. If a dividend is declared and paid dViring any
year out of the earnings and profits of that year and the stockholders
pay back into the corporation all or a substantial part of the amount
of such dividends, the amount so paid back cannot be included in
the computation of invested capital for that year unless the corpo-
ration shows by evidence satisfactory to the Commissioner that the
dividends were paid in good faith and without any understanding,
express or implied, that they were to be paid back.
(C) Distributions In stock. — A distribution made prior to the
taxable year by a corporation in Ws stock, or in rights to acquire
its stock, to the extent to which it constitutes a distribution of
earnings and profits of a corporation, constitutes an item of invested
capital. Such a distribntion made during the taxable year out of
earnings and profits other than out of the earnings and profits of
that year is also an item of invested capital. If a stock dividend is
paid out of capital and not out of earnings and profits, qr is of such
a character as not to be subject to lax in the hands of a distributee
because exempt as a stock dividend either by statute or otherwise,
it is not deemed t-o constitute a distribution and does not reduce the
earnings and profits account. Sec section 115 (h).
(D) Reductions by distribution.s. — The amount of the daily
equity invested capital as partially determined by taking the aggre-
gate of the sums described in section 71S (a) shall be reduced by
the amount of the distributions made in prior taxal-le years which
were not out of accumulated earnings and profits plus the amount
of the distributions previousiy made during the taxable year which
were not out of the earnings or profits of such year. In determining
whether a distribution is out of the earnings and profits of any
taxable year, such earnings and profits shall be computt^'d as of the
clo.sc of such taxable year without diminution by reason of any
distribution made during such taxable year or by reason of the
excess profits tax imposed by the Kxcess Profit,s Tax Act of 1940,
or, by reason of tlic tax impo.'^ed by chapter 1, and witliout regard
to the amount of earnings and profits at the time the distribution
was made.
In computing accumulated earnings and profits as of the begin-
ning of the taxable year and in determining what distributions
durini; the taxable year arc made out of the" earnings and profits of
Biich year, for the jjurposcs of section 71S (a) and (b) distributions
made during the first 00 days of anv taxable year beginning after
December 31, 1940, arc deemed, to the extent they do not exceed
the accumulated earnings and profits as of the beginning of the
taxable year, to have been made on the laat day of the preceding
taxable "year. In applying sheh rule, buch distributions shall bo
considered in the order of time.
A distributioD m considered to be made on the date it is payable,
except that where no date is set for its payment, the distribution
is considered to be made on the date when it is declared, and except
that distributions payable during the first 60 days of a taxable year
beginning after December 31, 1940, are considered to be distribu-
tions made on the last day of the preceding taxable year to the
extent such distributions do not exceed the accumulated earnings
and profits as of the beginning of the taxable year.
The purchase by a corporation of its own stock for investment
does not of -itself result'in a reduction of invested capital. But see
section 30.720-1 of Regulations 109, relative to inadmissible assets.
If, however, the corporation subsequently cancels such stocky
invested capital is reduced, beginning with the day following such
cancelation, by so much of the adjusted basis of such stock in the
hands of the corporation as is not properly chargeable to earnings
and profits of the taxable year. If stock is purchased for retirement,
there is a distribution on the date of purchase of the amount paid.
therefor and the invested capital is reduced by the amount thereof
not properly chargeable to earnings and profits of the taxable year.
(h) Adjustments on account of receipt of property on certain
tax-free liquidations. — If the taxpayer has previously received prop-
erty fother than property described in the last sentence of section
113 (?) (15)) in complete liquidation of another corporation in
which no gain or loss was recognized under section 1 12 (b) (6) or
the same section of the Revenue Act of 1936 or 193S, the invested
capital shall be increased by an amount equal to the excess of the
aggregate of the money and the adjusted basis, at the time of
receipt, of the property other than money so received over the sum
of the adjusted basis of the stock with respect to which such property
was received and the aggregate of the liabilities assumed by the
taxpayer, or to whichthe property received was subject, and any
other consideration given by the taxpayer for such property. If the
aggregate of the adjusted basis of such stock plus such liabilities
and other consideration given for the property so received exceeds,
such money and the adjusted basis of such property, then such
excess shall be deducted from the invested capital to the extent
that such excess does not exceed the accumulated earnings and
profits as of the beginning of the taxable year. The term "adjusted
basis" as used in tection 718 (a) (6) and (b) (4) means adjusted
basis for determining loss.
If the earnings and profits of another corporation previously at
any time were included in the accumulated earnings and profits of
the taxpayer by reason of a transaction referred to in section 718 (b)
(3), the amount of such earnings and profits shall be deducted in
determining the equity invested capital.
(F) N^w capital. — (i) In general. — The equity invested capital
for any day of a taxable year beginning after December 31, 1&40,
as partially determined under section 718 (a) (1) to (5), shall be
increased by an amount equal to 25 percent of the new capital, if
any, for such day. The term "new capital" for any such day means
the aggregate amount of money and property paid in for stock, or
as paid-in surplus, or as a contribution to capital, and the aruount
of dL-stributions in stock made, during a taxable year beginning
after December 31, 1940, and includible for such day under section
718 (a) (1) to (3), subject, however, to the limitations provided in
subparagraphs (A) to (F) of section 718 (a) (G).
(ii) Limitations under subparagraph (A) of section 718 (a) (6). —
The limitations p^vided in su"bparagraph (A) of section 718 (a) (6)
exclude from the term "new capital" the amount of any equity
invested capital acquired in an exchange occurring during a taxable
year beginning after December 31, 1940, to which section 112 (b)
(3), (4), or (5), or so much of section 112 (c), (d), or (c) as refers to
section 1 12 (b) (3), (4), or (5), is applicable. However, in determin-
ing whether an exchange is within section 112 (b) (3), (4), or (5), or
so much of section 112 (c), (d), or (e), as refers to section- 112 (b) (3),
(4), or (5), the control requirement is considered to mean the owner-
ship of stock possessing more than 50 percent of the total cbmbined
voting power of all classes of stock entitled to vote or more than
50 percent of the total value of shares of all classes of stock. These
limitations also apply to all exchanges under Supplement R which
would be subject to the statutory provisions referred" to in the pre-
ceding sentence if it were not for section 371 (g).
(iii) Limitations under subparagraph (B) of section 718 (a) (6). — •
The limitations provided in subparagraph (B) of section 718 (a) (6)
exclude from the term "new capital" any money or property paid
in to the taxpayer by a transferor corporation if immediately after
such transaction the transferor and the taxpayer ^rc members of
the same controlled group as that term is defined in such sub-
paragraph.
(iv) Limitations under subparagraph (C) of scction.7lS (a) (6).—
The limitatio/is [Provided in subparagraph (C) of section 718 (a) (f>)
exclude from the term "new capital any distribution In stock
described in section 718 (a) (3) made by the taxpayer to another
corporaiJon if immediately after the distribution the taxpayer and
tlie other corporation are memlnTs of the same controlled group as
that term is defined in subparagraph (H) of section 718 (a) (6).
(v) Limitations under subparagraph (D) of section 718 (a) (6).—
Tlw limitations provided in subparagraph (D) of section 718 (a) (6)
require that the amount of new capital for any dav of the taxable
vcar, computed without the application of section 718 (a) (6) (E),
Lhall be reduced by the excess of tlie amount of inadmissible assets
held on the beginning of that day over the amount of t^uch assets
held on the beginning of the first day of the taxpayer's first taxable
year beginning after December 31, 1940.
(vi) Limitations under subparagraph (E) of section 7lS (a) (6).^
The limitations provided in subparagraph (E) of section 718 (a) (6)
prevent new capital us of any day from exceeding the amount b/.
STATISTICS OF INCOME FOR 1941, PART 2
347
which the total equity invested capital and borrowed capital as of
such day (computed withotit including the 25 percent increase and
reduced as provided in such subparagraph on account of amounta
exciuried under subparagrapii (A) or (B), exceeds the sura of the
equity invested capital and borrowed capital as of the first day of
the taxpayer's first taxable year beginning after December 31,' 1940
(reduced as provided in such subparagraph on account of reduction
in accumulated earnings and profits other than as the reeult of
distributions).
(vii) Limitations under subparagraph (F) of section 718 (a) (6). —
The limitations provided in subparagraph (F) of section 718 (a) (6)
require that new capital for any day of the taxable year (computed
without the application of subparagraph (E)) snail be reduced by
distributions made after the beginning of the first taxable year
which begins after December 31, 1940, out of earnings and profits
accumulated prior to the beginning of such first taxable year*
(G) Rules where equity invested capital cannot be determined
under section 718.— In cases iu which the Commissioner deter-
mines that the equity invested capital of a corporation as of the
beginning of its fir.*:! excess profits tax taxable year canhot be
determined in accordance with section 718, such equity invested
capital shall be an amount equal to the sum of (i) the money,
plus (ii) the aggregate of the adjusted basis of the as.sets other than
money, held by the corporation as of the beginning of such taxf.ble
year, such sum being reduced by the indebtedness of the corporation
outstanding at such time. The adjusted basis of the assets shall be
the adjusted basis for determining loss upon a sale or exchange for
Federal income tax purposes. See, in general, section 113 and the
regulations prescribed thereunder. For the purposes of section 723
the term "indebtedness" means any liability of the corporation,
absolute and not contingent, andincludes liabilities assumed by the
corporation, whether or not in connection with property held by
the taxpayer, an'd any liabilities to which property held by the
corporation is subject, but does not include the obligatioa of the
corporation on its capital stock.
The equity invested capital under section 723 for each day after
the first day of the first excess profits tax taxable year of the cor^
poration shall be the basic figure determined under the first para-
graph of this section increased or decreased aa provided in section
718 and the reguiatious prescribed thereunder with respect to
changes in the equity invested capital occurring aft^r the be^nning
of such first taxable year. For such purpose the term "accumulated
earnings and profits" means the earnings and profits accumulated
eince the beginning of the first excess profits tax taxable year of the
corporation, computed without regard to any deficit in accumulated
earnings and profits existing at the beginning of such year.
Similarly, the terni "earnings and profits" refers only to euch
accumulated earnings and profits and earnings and profits of an
excess profits tax taxable year. In all cases coming under section
723 the taxpayer shall be treated as a corporation newly organiaed
immediately prior to the beginning; of its first excess profits tax
taxable year with an equity invested capital, consisting of money
?aid in for stock, equal to the basic figure determined under section
23.
In any case in which a taxpayer finds it impossible to determiDe
its equity invested capital as of the beginning of its first excess
profits tax taxable year in accordance with section 718, it may
compute its equity invested capital in accordance with section 723,
provided it submits with its return a schedule showing such com-
putation, and a statement of the facts upon which it bases its
conclusion that it ct.nnot compute its equity invested capital imder
section 718, so that the Commissioner may determine whether its
equity invested capital can be computed in accordance with that
section.
(2) Borrowed invented capital. — The borrowed invested capital
for any day of the taxable ye;^r is 50 percent of the borrowed capital
for such day determined as of the beginoing of sach day. Borrowed
capital is defined to mean:
(A) Outstanding indebtedness (other thau interest and iudebted-
neaa described in section 751 (b) relating to certain exchanges, but
including Indebtedness assumed oi^to which the taxpayer's property
is subject) of the taxpayer which is evidenced by a bond, a promis-
,Eory note, bill of exchange,* debenture, certificate of iudebteduess,
mortgage, or deed of trust, plus
(lij In the case of a corporation having a contract, made before
November S, 1940, with a foreign government to furnish articles,
materials, or supplies to such foreign government, amountB received
as advance payment in connection with and as provided by such
contract, to the extent such amounts would be repayable pursuant
to the terms of the contract, if cancelation by such foreign govern-
ment occurred at the beginning of the day for which the borrowed
capital is being ascertained, but no amount shall" be included a^
borrowed capital which has been includible in gross income.
In order for any.indebtedness to be included, in borrowed capital
it must be bona fide. It must be one incurred for b-.isincss reasons
and not merely to increase the exce.'^ profits credit. If indebtedness
of the taxpayer is assumed by another person, it ceases to be borrowed
capital of the taxpayer. For such purpose an assumption of indebt-
edness includes the receipt of property subject to indebtedness.
Whether outstanding certificates designated by such names as
"debenture preferred stock" or "guaranteed preferred slock" con-
stitute borro\\%d capital depends upon .whether the holder has a
proprietary interest in the corporation or has the rights of a creditor,
determined in the light of all the facts. The name borne by the
certificate is of little importance. More important attributes to be
considered ore whether or uot there is a matimtyd&te^ the source oX
Page 7
payment of any "interest" or "dividend" specified in the certificate
(whether only out of earnings or out of capital and earnings), rights
to enforce payment, and other rights as compared with those of
general creditors.
The term "certificate of indebtedness" includes only instruments
having the general character of investment securities issued by a
corporation as distinguishable from in.'struments evidencing debts
arising in ordinary transactions between individuals. Borrowed
capital does not include indebtedness incurred by a bank arising out
of the receipt of a deposit and evidenced, for example, by a certificate
of deposit, a passbook, a cashier's check, or a certified check.
(3) Reduction of average invested capital for inadmissible
assets. — If a taxpayer owns any "inadmissible a-'^scts" on any day
during the taxable year, then section 715 relating to the computation
of inve?-,ted capital requires the average invested capital to be re-
duced in the same ratio as the inadmissible assets hear to the total
assets. The term "inadmissible assets" means (A) stock in all
corporations, domestic or foreign, except stock in a foreign personal-
holding company, and except stock which is not a capital asset (such
&s stock held primarily for sale to customers by a dealer iu securities),
and (B) all obligations deRcril»ed in section 22 (b) (4), any part of
the interest from which is excludible from gross income or allowable
as a credit against net income. tStock held in the treasury of the
issuing corporation is an inadmissible asset. The term "admissible
assets" means all assets other than inadmissible as.<et3- However,
if a taxpayer in its return for a taxable year elects to increase its
normal-tax net income for that year for the purpose of the excess
profits tax by including ail the intcre-st derived from the obligations
described in section 22 (b) (4), all such obligations shall be considered
admissible assets for such taxi.ble year. For the purposes of the
preceding sentence, the term "interest" includes, in the case of
obligations issued at a discount., so much of such discount as (for
purposes of determining gain or loss upon sale or other disposition)
is treated as interest in the hands of the taxpayer for the taxable
year, and the term "obligations described in section 22 (b) (4)"-
includes obligations, whether or not issued at a discount, the dis-
count on wluch, if issued at a di.=;count, would be so treated. The
following steps arc necessary in the application of section 720:
(i) There must be determined the adjusted basis for determining
loss upon the sale or exchange, as provided in sectjon 113, for each
asset, or, in the ca.se of money, the airiount thereof, owned at the
beginning of each day during the ta.xable year.
(ii) Tliere must then be determined the aggregate of the ad-
missible assets and the aggregate of the inadmissible assets for the
taxable year.
(iii) The average invested capital for the taxable year must then
be reduced by the percentage which the total of the inadmissible
assets is of the total of the admissible and inadmissible assets.
If the taxpayer had a short-term capital gain during the taxable
year witii respect to any inadmissible asset, then the amount of the
admissible assets shall bo increased and the amount of the inadmis-
Eibie assets shall be decreased by so much of the amo'int attributable
to such inadmissible a.-'-set as such gain bears to the sum of euch
gain plus the dividends or inUxest on such asset for such year.
The amount of admissible ?.sset* and the amount of inadmissible
assets shall be detemaiued es of the beginning of each day. If,
however, it is impracticable to determine such announts as of the
beginning of each day but the amounts held on a given day of each
month throughout the year or at other regular intervals not exceed-
ing one year can be determined, the amounts held as of the beginning
of each day of such month or other period may be determined by
dividing by two the suiu of the amounts of such assets held at the
beginning of the period and the amounts held at the end of the period.
If at any time a substantial change has taken place either in the
amount of inadmissible assf i£ or in the total amount of admissible
and inadmissible assets, the effect of such change shall be averaged
exactly from the date on which it occurred. Ordinarily the ta:<payer
will be able to determine the amount of ipadmissible assets actually
held on each day of the taxable year. 1 he fact that it may be
impracticaote to determme the amoun*. of adpiissibte assets actually
held on each day of the taxable year will not relieve the taxpayer
froni the necessity of determining the actual amount of inadmissible
assets lield unless such determination is likewp-ise impracticable.
(4) Computation of excess profit-s credit based on invested capi-
tal.— The excess profit" credit, computed under section 714, shall be
the amount shown in the following table:
If the invested capital for the tax-
able vear, determined under sec-
tion 715, is: The credit shall be:
Not over $5,000,000... 8% of the invested capital.
Over $5,000,000 ._ $400,000, plus 7% of the ex-
cess over $5,000,000.
23. Excess profits credit carry-over.— Section 710 (c) (1) defines
the term "unused excels profits credit" as the excess, if any, of the
excess profits credit for any taxable year beginning after December
31, 1939, over the excf^s profits net income for such taxable year,
computed on the basis of the excess profits credit applicable to
such taxable year. For such purpose the excess profits credit and
the excess profits net income for any taxable year beginning in
1940 shall be computed under the law applicable to taxable years
beginning in 1941.
The excess proTts credit carry-over for any taxable year shall bo
the sum of the following:
(a) The unused excess profits credit for the first preceding tax-
able year; and
348
STATISTICS OF INCOME FOR 1941, PART 2
Pages
(b) The tmnsed excess profits croditfor the Bcccnd preceding tax-
able year reduced by the amount, if ajiy, by which the excess profits
net income for the firet preceding taxable yeaj exceeds the sum of —
(1) the excess profits credit for such first precediog taxable year,
plus
(2) the unused excess profits credit for the third preceding taxable
year.
In the case of a taxpayer which is entitled to use the excess profita.
credit based on income or invested capital, Tvhichever credit results
in the lessET excess profits tax, and which has not disclaimed the use
of either credit, the term "excess profits credit applicable to such
taxable year," within the meaning of section 710 (c) (1), means
whichever credit results in the larger unused excess profit credit.
31. Excess profits tax. — The following table shows the excess
profits tax for taxable years beginning after December 31, 1940.
EXCESS PROFTTS TAX TABLE
Adjusted excess profits cet tucomo
130.000— $50,000 _
$50.000— Si 00.000 __
5100.000— S25O.0O0-.
$250.000— $.100.000..
Over $500.000
Percent
S5
ToUp"
£H000
Adjust n
c required in thpa
e of corporaUoTW which
r December 3
,1939)
_ f profits las Lab
have 'been IhrotiRl) ccJrtftin tax-free excbanRcs or liqui
described In sections 750 and 752 and wbii h, as a con
amount of less than $o00.000. For dctinltioa and
amount, sec si^ctiona 750 (e) and 752. Such adjiistme .....
Buch table the ratio of the corporation's hlfibcsl bncfc?t an-oujic. adjusted as provid''d
In section 752, to what its highest bracbot atDount would have bern if the adjustments
required by section 752 had not been made, that is, $500,000. Thus, ii the highest
brocket arnouDt of a corporation as coiDput«d under "'" ' ' "-'---■
aplishcd by epplyin^ l-
1 752 is only $:;oo.ooo, the
dollar amounts In the table applicibla to Euch corpo.-aUoD tfHI be onlj- ^'— , cr 50
peri-cDt, f)f the amounts therein set forth. The left-hand column (headed "Adjosted
ExcGss ProBus Net Income') of the table applicable ' " '"
reaJ $0-$Ii.i "~
a corporation would t
, $30,000— $60,000. $f5,C0O— $150,000. SIM.COC-
$300,000. The right-band coluran (havJed 'Total Eicess Proa.w T«*") would
read $4,200, S11,4C0, $24,900, $69,900, and $152,400. The middle, or j^ercea-age, column
vould remain u^-chanied.
Ttic tabic as so revised would be applicable whether the corporation'
credit is based oo income or Invested capilaL if, after the adjustments prp%Tded by
tlon 752, the highest bmckct amount of a corporation Is still $500,000.
0 of tbc highest bracket a
profits
bysoc-
adjustment In itie
c dose of the tajfible year, Th? first
; received or accrued from
ting period tsa pcribd of Ic-^thao
$500,000'
The bigbcsl bmcket amount of a corporation tao never cn.xed $500,000,
end therefor? any adjustment In the tr.ble required by section 710 (a) (2) will operate to
reduce the dollar amounts appearine tl.crcin and thus to incrcr^e the total t--
SectiooTll (a) (3) provides thilif ttte taxrvblo year L-; a period of le
excess profits net Lncorao shall hi- -^^loccd on ao annual basis by mu . . „
thereof by the number of days In the 12 months ending with the close of the taiabl
and by dividing sueh product by the nnraber of da>-s in the ta.\able year. A ten
lax shall then ha computed as though the excess iroCts net income werfi the araoi
ascertained. The artual t&\ for the taxable yearshali be
ratio to such tentative lax as the nunthcr o' daj
number of dnys fn th*> 12 months ending with t
"taxable ye-ir" of a corporation wnirh files a ret
the date of its incorporation to the end of its first i
12 months, where ihc [rf;riod between tho dr>Le vf iccorporeliOD and tfaoend of such (iist
accounting period is less than 12 months.
32. Application of section 734. — (a) General. — Section 734 pro-
vides for an adjustment if a determination of a taxpayer's excess
profits tax liability treats an item or transaction affecting the excess
profits credit inconsistently with the tre.itment of euch item or
transaction in the determination of the income tax liability of the
taxpayer, or a predecessor, for a prior taxable year or years. The
adjustment is not authorized unless (1) the treatment of the item or
IransacUon for prior taxable years was incorrect under the law ap-
plicable to such years, (2) a correction of the eS'ect of such erroneous
treatment for one or more of the prior taxable years is prevented by
the operation of a provision or rule of law, and (3) the inconsistent
position adopted in the determination is asserted and maintained by
the party (either the Commissioner or the taxpayer) who would be
fldversclv afTectcd by the adju::tment. (See eectioo 30.734-2 of
Regulations 109.)
(t;) Law applicable in determination of error. — Whether there was
an erroneous treatment of the item or transaction for prior taxable
years is to be determined under the provisions of the internal reve-
nue laws applicable with respect to such years. If the inconsistent
treatment adopted in the determination of the excess profits tax
liability is based upon an authoritative judicial Interpretation of the
applicable revenue law which differs ffom the interpretation of such
law accepted in the determination of the tax liability for such prior
years, then the treatment accorded the item or transactioa for such
prior years is erroneous within the meaning of section 73-1,
(c) 'Method and cjjtcl of adju&tmejit. — The adjustment authorized
by section 734, although measured by reference to the income taxes
prcviou.'^ly determined for prior taxable years, does not operate as
an adjustment to the income tax liability for euch years, but the
amount of such adjustment is added to or subtracted from, as the
case may be, the excess profits tax otherwise computed for the tax-
able year with respect to which the inconsistent position is adopted.
If a determination for one taxable year adoptjj inconsistent posi-
liorw with respect to neveral items or tranaactions, it is necessary to
make separate and distinct computations with respect to each such
Item or transaction in order to ascertain the amount of the potential
adjustment with respect to each such item or tranr-actioji and
whether an adjustment with respect to such item or transaction is
authorized. If several adju.'^tmentd arc authorized with respect to
one cxcew* profits tax taxable year, the separate adjustments arc
ag^rrfnt'-d and the n/sn-^ato net inc. case or net decrease is added
to. or subtracted from, as the case may be, the excess profits tax
otacrwiso computed (or euch tax&blo >ear. la ascertaiuing the
U.S. GOVEftffMENr
amount of tlie adjustment with respect to a particular item OF'frans*
action, no effect shall be given to the computations made for the
purpose of determining the amount of the adjustment with respect
to any other item or transaction. If the several authorized adjust-
ments result in an aggregate net increase,, the excess profits tax
liability for such taxable year shaU not in any ct^e be less than the
amount of such aggregate net increase.
The -emount of the credit for foreign taxes allowable under the
provisions of section 729 shal> be determined before giving effect to
any adjustment imder section 734.
(i) Ascerlainment of amount of adjustment. — To ascertain the
amount of the adjustment, it is necessary tcdet^rmine the amount
of the increase or decrease in each income tax previously deter-
mincd for each of the prior taxablo years which would have resulted
if the item or transaction erroneously treated had received the cor-
rect treatment imdecthc law applicable with respect to such tax for
such year. To each such increase or decrease there shall be added
interest thereon computed as if the increase or decrease constituted
a deficiency or an ov¥rpa>Tnent, as the case may be, with respect to
such tax for such year. In all such cases interest shall be computed
to the 15th day of the third month following the close of the excess
profits tax taxable year with respect to which the determination of
the excess profits tix liability is made.
If only one income tax for one prior taxable year is involved, the
increase or decrease in such tax for such year plus the interest
thereon is the amount of the adjustment with respect to the particu-
lar itein or transaction.
If two or more income taxes for one prior taxable year, or two or
more prior taxable years are involved, it is necessary to determine
the increa^5e or decrease in each income tax previously determined
for each such year, plus the intertst on each such increase or de-
crease. The difference between the sura of the increases including
the interest thereon, and tho sum of the decreases, including the
interest thereon, slia.ll be ascertained and the net increase or
decrtase so determined is the amount of the adjustment with
respect to the particular item or transaction.
The computation to determine tlie increase or decrease m each
income tax for each year shall be made as follows:
(1) The amount of the tax previously determined must first bo
ascertained. This may be the amount of ta.*? shown on the tax-
payer's return, but if any changes in that amount have been made
they must be taken into account, including any adjustment pre-
viously made under the provisions of section S20 of the Revenue
Act of 1938 or section 3801 of the Internal Revenue Code. In such
cases, tl:e tax previously determined will be the tax shown on the
return, increased by the amounts previously assessed (or collected
wit'iout assessment) as deficiencies, and decreased by amounts pre-
viously abated, credited, refunded, or otiierwise repaid in respect of
such tax. If no amount was shown as the tax on the return, or if
no return was made, the tax previously determined nvill be the sum
of the cmcunts previously assessed (or collected without assess-
ment) as deficiencies, decreased by tho amounts previously abated,
credited, refunded, or othenvise repaid in respect of such tax.
(2) After the tax previously determined has been ascertained, a
recomputation must be made to ascertain the increase or decrease
in tax repfesented by the difference, if ar.y, between the tax pre-
viously determined and the tax as recomputed upon the basis of the
correct treatment of the item or transaction.
With the exception of the items upon which the tax previously
determined was based and the item or transaction with respect to
which the erroneous treatment occurred, no item shall be considered
in computing the amount of the increase or decrease in the tax pre-
viously determined. If the treatment of any item upon which the
tax previously determined was based, or if the application of any
provisions of the internal revenue laws with respect to such tax
dcpend-s upon the amount of income (e. g., charitable contributions, ^
foreign tax credit, earned income credit), readjustment of such items
in conformity with the change in the amount of the income which
results from the correct treatment of the item or transaction in re-
spect of which the inconsistent position was adopted is necessary as
part of the recomputation.
34. Foreign tax credit — Tlie provisions of law made applicablo
to the excess profits tax by section 729 (a) include section 131 relat-
ing to the credit for income, war-profits, and excess-profits taxes paid
or accrued during the taxable year to any foreign country or any
possession of the United States. The taxpayer is allowed such a
credit against the c.\cess profits tax if it claims faich credit in its
Federal income tax return and likewise claims such credit in its ex-
cess profits tax return. The amount of such credit allowable against
the excess profits tax is (o) the amount of such income, war-profits,
and excess-profits taxes reduced by (I) the amount of such taxes
allowed as a credit under section 131 against the income tax. Thus,
for instance, if a ta.xriayer paj-s to a foreign country with respect to
the calendar year 1941 income tarx in the amount of §25,000 upon
income from sources therein and, due to the operation of the limita-
tion provisions contained in section 131 (b), only the amount of
$20,000 is allowed as a credit against the income tax for that year,
the remainder, or $5,000, is available as a credit agaiust the excess
profits tax for the year 1941. The ojnount thus made available as a
credit against the excess profits tax is, however, subject to the
further limiUtions provided in section 729 (d). For the applica-
tion of the limitations provided in section 729 (d) to the amount of
income, war profits, or excess-profits taxes thus mode available as a
credit against the excess profits tax, see section 131 (b) and tho pro-
visions of Regulations 103 pcrtaixung thereto,
PRINTING OFFICE
STATISTICS OF INCOME FOR 1941, PART 2
349
U^aTED STATES
RETURN OF PERSONAL HOLDING COMPANY
(UNDER SUBCHAPTER A, CHAPTER 2, INTERNAL REVENUE CODE)
For Calendar Year 1941
1941
or fiscal year begiDniog , 1941, ?nd ending , 1942
CORPORATION S
(County)
(Sla
File
Code ...
Serial
Number...
District -
C.A
(OjIuct'i Stamp)
Cheek
M. O.
«
Fust Psymcnl
1=".^, SUBCH.\PTER A NET INCOME COMPUTATION (See Imtouction H)
, Net income (as defined in chapter 1 of the Internal Revenue Code). (S« irutmrtion i>
. Add: Net long-term capital loss used in computing item t. (FiomForn. 1120, iinn ii(j). i»tc l> (ir ■ net lont-icnn c
. Total of items ] and 2 ..*. _ _
Less; (a) Net short-term capital gain used in computing item !• (FromFonn ujD.iion nW. pjk< ')
(i) Net long-tenn capital gain used in computing item 1. (From Form wa. item ii(*> pagt i) (i(
. nrt loni-ltrm "pttiJ l™, fiU «. h™ 2).
. Difference between items 3 and 4 _ „
. Add: Contributions or gifts deducted in computing item I. (S«itcni I2.bck>*>.
Excess of expenses and depreciation over income from property not allowable under section
505(b). <F..n,S<W.,.A) _
Net operating loss deducted in computing item 1. (FtomForm \fin.iumlb,pttc 1)
. Total of items 5 to 8. inclusive.
. Total of items 9 and 10 (if a capital gain), ot diSucnce betisMn items 9 and 10 (if a capital net loss)./.
Less; Contributions or gifts paJd. <FromScisi.i.e. « ln.i7iKii.<o illwUmimion) _
Federal income. wir-pro6t&. and excess-profits taxes (not deducted in computing item 1).
Income and profits taxes paid to a foreign country or United Stales possession (not'deductcd
in computing item ))___ „
Amo'ints paid in liquidation ol liability of the corporation based on liability of a decedent to
, SuUhapter A net income (item li ra^nus lots! of ilons 12 to l5. inclusive) ^~
UNDISTRIBUTED SUBCHAPTER A NET INCOME COMPUTATION (See Imtrection I)
, Subchapter A net Income (item 16, above) _ ,
Less: Dividends paid credit. (r™,5J«t.VD)
Amounts used or irrevocably set aside to pay or retire indebtedness of any kind incurred
prior to January 1. 1934. <f™> Sch«JJ. Et [
Undistributed subchapter A net income (before applying section 304(c)) (item 17minus items 18 and 19)..
:nds paid after dose of taxable year, excluding deficiency dividends as defined in section 506(c). (Ati.<h
. Undistributed subchapter A net income
1 portion of item 22, not L
1 amount of item 22, In ex
COMPUTATION OF TAX
xcess of $2,0p0. at 71 1% „„
s of $Z000. at 82i%
Furnish below the names and addresses of the individuals who o>yned. directly or indirectly, at any time during the last half of the taxable year, more
tlian 50 percent in value of the outstanding capital stock of the corpcirationi
Nsmt
...
Highest pen:cnUse of sharci owned during
last half of taxMe year
PrJtned 1 Comn-.on
(1)
(2) '
(3)
(4)
(5)
AFFIDAVIT (See Instruction E)
We. the undersigned, president (or vice pTejjJdent, or other principal officer) and treasurer (or assistant treasurer, or chief accounting officer) of the
corporation for which this return k made, being severally duly sworn, each for himself deposes and says that this return (including any accompanying
schedules and statementc) has been examined by him and is, to the best of his knowledge and belief, a true, correct, and complete return, made in good
faitii, for the taxable year stated, pursuant to the Interna! Revenue Code and the regulations issued thereunder.
Subscribed and sworn to before me litis
, 194..
(If this retu
s prepared by some person or persons other than otTicers or employees of the corporation, the followins affidavit must be exccu
AFFIDAVIT (See Instruction E)
I/v,e swear (or affirm) that I/we prepared this return for the person named herein and that the return (including any accompanying schedules
statements) is a true, correct, and complete statement of all the information respecting the tax liability imposed by section 500 of the Internal Rcvi
Code of the person for whom this retum has been prepared of which 1/we have any knowledge.
Subscribed and s
1 to bef 01
Ethis
589783—44-
-23
350
STATISTICS OF INCOME FOR 1941, PART 2
SdMduh A,-eXCESS OF EXPENSES XN7> DEPRECIATION OVER INCOM
EFR
>M PROPEIJTV
NOT
ALIX5
WABlitiNDER
SECTIONS
•S. (S~I»..™c
Bonn
l.lCi,JJPr„OT,
*«r»3
3.Coiii>'(M»Bul.
'■°—
Eisnua {«el;8n U (t))
* **F^"* "' ^»P"«« 1 7. In,
S'o.S'r^l-."'
S.Ei»>(&il«i4
<a).
%
i
$
s
. 1 t
$
<1>>
i
<c).
1 ■
<d) -....- -
1 1
Total excess of expenses and depreciation over rent or other compensation. (Enter
s item 7. first page)
$
£j[:pUnation of expenses entered in column 5 .
State the names and addresses of persons from whom rent or other compensation was received for the use of, or the right to use, each property. .
Schedule B.-(
ONTRIBUTIONSOR
GIFTS PAID. (S- lnMructi>n 1I>
Name and Addresi of Orgsniiation
Amount
Name and Addfcsi tf Organization
Amount
$
$
'
Total. (Ejiter as item 12. first page, subject to 15 percent limitation) - - | $ _
5ch.d-l.
C— FEDERAL INCO
^E WAR PROFITS A
NO EXCESS PROFITS TAXES (S,. I,»f™ct»n I»
Nature of Tas
T»i.bl« Ytar
A„ou„t
N.lurtoFT.. TMjbfcVor
Ainawit
$
s
Total. (Enter as item 13, first
$
Note t. — Do not include lurta
Note 2.-THe dcttared valut
.and taken ai a deduction in Item I
I be mcfuded tiere
1. Taxable dividerxJs paid, excluding (a) dividends claimed in the preceding year und
as defined in section 506(c) _
2. Consent dividends credit. (Submit schedule)
3. Taxable distributions (total of lines 1 and 2)
4. Net operating loss d preceding taxable year (not in exccsslof the adjusted net income). (Submit schedule)
5. Bank afhilau credit _
6. ToUl of hnes 4 and 5. or adjusted net income, whichever is le5S _
7. Dividend carry-over from first and second preceding taxable years. (Submit schedule of compuLatjA)
0. [>iv;dendE paid credit (total of lines 3. 6. and 7). (Enter as item 18. first page)
504(c). and (i) deficiency dividends
SAcdul. E.-AMOUKTS USED OR SET ASIDE TO PAY OR RTTIRE IND
EPTiO
■irSS INCURR£D PRIOR T
D JAMyART 1. 1>31.
■
II
Ul
3. Date due
$
J —
5. Amount used or set aside prior to January 1. 1934, to pay or retire such indcbt-
-
t. Excess of indcblC'Jness on January I, 1934. over total amount used or set
$
$
$
1934.
1935..
1936
$
$ „..
7. Amount* used or set aside to retire such indebtedness during the follow-
ing calendar years, or during fiscal years beginning in such calendar
^cars
1937
1938
1939
1940
■8. Amoimt used or irrevocably set aside during the taxable year covered b
ythis
9. Total of lino 7 end 8
$
$
$
10. Balance o( indcbtediicos (line 6 minus line 9)
$
$
»
.11. Indicate separately;-
(fl) Amount actually used during the taxable year covered by this return
$
$
S
(J) Amount irrevocably set aside during the taxable year covered by this
return to pay or retire the indebtedness, but not actually used dur-
$
$
$
.12. Portions ol amount-, entered on line 8 above, claimed as deductions for the
taxabltycarcovcredby this return. (Enter total as item 19, first page)
$
$
$
Indicate by fheck mark whether the deduction claimed in item 19. first page of this return, represents:
A n Amourl actually used during the taxable year to pay or retire the indubteifcicss:
B D Amount irrevocably set ssidc during the taxable year to pay or retire the iiidcbtednew; or
C C' Combinulion of both A and D.
There must be furnished all of the facts and circumsUnccs upon which the taxpayer relies to establish the reasonableness of the amount cli
deduction. Describe fully the plan for payment or retirement of the obligations, indicating dale and method of adoption, and, where the plan
by t mandatory sinking fund agreement or similar arrangement, submit a copy of the indenture or agreement by which the fund was established
which it is maintained .....^ '•
fti)d under
If the amount claimed as a deduction in item 19. first page of this return, represents an amount irrevocably set aside to pay or retire the indebtedness,
explain fully the circunistanecaand method by which it was irrevocably set aside - -
STATISTICS OF INCOME FOR 1941, PART 2
351
INSTRUCTIONS FOR FORM 1120H
1941 UNITED STATES RETURN OF PERSONAL HOLDING COMPANY
(UNDER SUBCHAPTER A, CHAPTER 2, INTERNAL REVENUE CODE)
(References are to the Internal Revenue Code, unices otherwUe noted)
1941
Taxpayers will find it helpful to read General Instructions (A) to (J) before commencing to fill in their returns and to
read tine Specific Instructions in connection with filling in the items to which they refer.
GENERAL INSTRUCTIONS
(A) Corporalio
poration which Ci
pany" aa detined
r beginning ftlwr Decan
'oSacfi^^^REt^ws.— U t
„ _i personal holding companj' undoi
personal holding company as dG&ned i
imposed by section 500 with respect U.
United States even though s ' '
a U10SUIU2 imposoil bf Uiu subcbspter."
r nonresident, which is classified
on 501 (not including a foreign
ction 331) ia eubject to tho tax
from eourcea wiH-iin tho
determinable
tfixtd
■ periodical income specified in section 231(a). (See Geclion lt9.) The
term "personal holding company" as used in subchapter A docs not include a
foreign corporation if (1) its gross income from sources witliin tbe United
States for tbe period specified in section 119(a)(2)(E) is less than 50 percent
of its total gross income from all sources and (2) all of it3 stock outstanding
during the last half of the tux.ili!c year is owned by nonresident alien indi-
viduals, whether directly or indirectly through other foreign corporations.
Peraonal holding company incoTne. — The term "personal holding company
Income" is defined by section 502 as the portion of the gross income which
3or—
, \'e) I
St (other
3rilyi.:i(m!Ua!l7conC
sstUuttQcrc
Ayotbe'WJ'
:llon Cc)). r
dlviftuttl wbo is to perform tbo KerPlcea Is deslEnalei? (t>7 name cr I
(howo'or deslftnaUid aod from
:r E^b rigtst is obmoed direciii' li
Ownod, dlfKtly uf Ir.f ■.T.;lly. by ')r f.r hi: ly.:
"(3) OpiJtmi.-ir ■ ■ '
owned bf^uub ixr
JbstClEon (0.
M.as EM royalties, unless tDMriillr-ittDB
the following provision with ref-
.— Outstanding g>
i be cons
grapb O),
"(2) fnt the purpnsoolioctlon 60a[ol {reiatlnc to rwreona] c(
\ PBTsonnl holdinE
arcait botncladod ir
penniasioa ia received from ihe Con'miasioncr to malic a chaogQ.
application for o change in the nccountmg period should bfi made on Form
1128.and forwarded to tii*: collector prior to the expiration of 30 daya from
the close of the proposed period for wliich a rcUtrn would be reguirod to
effect tho change.
paid. If yo
■n. — If your books of account are kept on the accrual
ime accri^ed, even though it has not been actually re-
I the books, and expenses incurred instead of expenses
accrual basis, or if you kept no
books, m^ke your return on a cash basis s
conslruclivclv received, such as bank inter
coupon bond interest matured, and report expenses actually paid.
(D) When and where retarn must be filed. — Returns must be filed on or
before tho 15ih day of the third month following the close of the taxable
year with the collector for the district in which the corporation's principal
place of business or principal office or agency is located. In tho case of a
foreign corporation engaged in business within the United States but i
f busi
1 the Collector of Internal Revenue, Baltimore, Md.
office (
before the 15th day of the (
(E) Signatores and verification. — The return shall be sworn to by the*
president, vice president, or other principal officer, and by the treasurer,
assistant treasurer, or chief accounting officer. Where the return is actually
prepared by some person or persons other than officers or employees of the
corporation, such person or persons must execute the affidavit at ths foot of
fir&t page.
(F) When and to whom lax mast be paid.— The ta:^ must be paid in full
when the return is filed, or in four equal installments, as follows: On or
btfore the 15th day of the third month; on or before the 15th day of the
eixlh month; on or before the Ijih day of the ninth month; and on or before
the ISlh day of the twelfth month following thj close of the taxable year.
If any installment is not paid on or before the date fixed for its payment,
the whole amount of the tax unpaid shall be paid upon notice and demand
by the coUect^ir.
The tax may be paid by sending-tir bringing with the return a check or
money order drawn to the order of "Collector of Internal Revenue," Do
not send cash by maJ, or pay it in person except at the collector's ofQce.
(G) Penalties.— For /ai7ure to make and file return on lime.~¥ive percent
2^ percent of the a
$I0,(K)O or iniprisonic
I for
<f the tax, unless such failure is due to reasonable
re is willful, a fine of not more than
re than 1 year, or both, together with
of prosecution.
For willfully alUmpling to evade or defeat payment of Ihe tax. — Not more
than SIO.OOO nr imprisonment for not more than 5 years, or both, together
with the coMs oT prosecution.
For deficiency due to negligence or fraud. — Five percent of the amount of
the dencien,-y if due to negligerce or intentional disregard of rulea and
regulations without intent to defraud, or SO percent of the amount of the
deficiency if due to fraud.
(H) Definition of Subchapter A Net Income.— Section 505 define
crm "Subchapter A Nut Income" for the purposes of subchapter A i
ict income, with the following adjustments:
(I) Ceflnllio
deSnes the te
chap'er A crA
oi nndisCributei sabchnpter A
"undistrihated pubchapter A
:ome [iLC, defined in section 505)
, income. — Section 504
i> t.djusted not incomo ccinua [tie dsducticn
lion of gross Inco
pany tax. — The t"
ofccrlati
U. the
other than life t
defined in section 2u4(b)("l), increased by the i
foBjca incurred. fJ defined in section ^04(b)(6), and tho amount of expenses
incurred, as defined in nectioa 204(b)(7), and decreased by the amount de-
ductible undeir aoction 204(c)C7) (relnUag to tax-free intexeot). (See section
607.)
352
STATISTICS OF INCOME FOR 1941, PART 2
SPECIFIC INSTRUCTIONS
The followins inslrnctions are nombcred to correspoAd with item nnmbers on the first pscs of the return
501 but not as
fiiiiouDt to be c
BectioD 119 rather than under section 231(a). Net income so computed will
reflect, in addition to income from all other sources within the United States,
f^ains from sales or exchanges made wiihin the United States of capital assets
including stocks, i^r-c-jritic-s, and commodities. Altliough such gains are not
^ubject to normal tar under section 231(a), chapter 1, they are subject to
the surtax impeded by section 500, subchapter A.
2 and J. Net short-term capital gain and net long-term capital gain (or
loss).— Section 505(d) provides that the net income shall be computed with-
out reeiard to section 117(d) and (o), and losses from .'.alos or exchanges of
capital assets shall be allowed only to the extent of ?2,000 plus the gains
from such sales or exchanges. Accordlugly, if a net long-term capital gain
(or loss) was usi-d in computing item I, such net lonp:-ttrni capital gain {or
loss) should be entered as item 4(6) or item 2, respectively. Any net short-
term capital gain used in computing item 1 should be entered as item 4(a).
(See Specific Instruction 10.)
6, Contributions or gifts deducted under section 23(q).— Section 23fq)
provides for the deduction of contributions or gifts paid within the taxable
year to the extent of 5 percent of the net income computed without the bene-
fit of such deduction while section 505 provides that in computing sub-
chapter A net inoom; there shall be allowed in lieu of the deduction allowed
by cection 23(q) coDtributioiiS or gifts of specified types paid within the
taxable year to an amount which does not exceed 15 percent of the net
income computed n-ithout the benefit of such deduction and the deduction
allowed under section 23(q), and without the deduction of the amount
disallowed under section 505(b). Provision for deduction of the larger
sllcwance is made in item 12 and in order to show the amount of income
upon which the increased limitation is based the amount allowed under
section 23(q) and deducted in computing net income under chapter 1 (item 1)
should be entered as item 6. (See SpcciHc Instruction 12.)
7. Excess of expenses and depreciation over income from property not
allowable under section 505(b). — Section 505(b) provides as follows;
i'.Z'T.
If the corporation derived rent or other
o use property which was less than the
compensatif
xpcnses incurred'
nd the deprci
right
I of the
nd deductible under section 23(q) . . , _ _
tion allowable under section 23(1), Schedule A should be filled in and the
excess of the e^ipenses and depreciation over the rent or other compensa-
tion shown therein should be entered ei item 7, first page of the retuni,
unless the corporation is prepared to establish the propriety of the deduction
to the satisfaction of the Commissioner.
The burden of proof will rest upon the taxpayer to sustain the deduction
cf the aggregate of the expersee allowed under section 23(a) and deprecia-
r other compensation
. of facts, ci
support of the deductions. Such statement shall include:
(a) A description of the property;
tb) Tlie cost or other basU to the corporation and the nature and value
of the consideration paid for the property;
(c) The name and address of the person from whom acquired and the
date thereof;
Id) The name and address of the person to whom leased or rented, or
the person p'.'rmitled to use the property, and the number of shares of
slock, if any, held by such person and the members of his family;
(e) The nature (cash, securities, services, etc ) and gross amount of the
rent or other compensation received or accrued for the use of, or the right
to use, the property dunng the taxable year and for each of the five pre-
ceding years and the amount of the expenses incurred with respect to, and
the depreciation sustained on, the property for such years;
( f) Evidence that the rent or oihcr compensation was the highest obtain-
able and if none waa received or accrued, a statement of the reasons therefor;
(fl) A copy cf the contract, lease, or rental agreement;
(h) The purpose for v.hich the property wa*i used;
(0 The business carried on by the corporation with respect to which
the property wa3 held and the ?ross income, expenses, and net income
derived from the conduct of such business for the taxfi.ble year and for each
of the fivCprecedii
<j) A etatcment of any reasons which existed for CTppctation that the
induct of a
■%n .
operation of the property would be profitable, or a statement of t
for the use of the property^n tho business of the corporation and the r
why the property waa acquired;
(*) Any other informaiiou on which the corporation relics.
10 Capital gain (or loss).— Enter an item 10 the
ff&ln (or loss, subject to the S2,000 bmitation). (S
2 end 4.)
12. Conlribaltons or gifts dfdLctiLle under seclir
under Specific Instruction 6 above, the amount dedu.
,in computing net income under chapter 1 i
and I
thereof i
v.:
If a deduction is claimed in itcrc
(See Bcctioo 505(a)(3).)
13. Fedenl Income, war.profilr
(11 provider that th^re Bhall be all
Furnish details of tuch itco:
s allowable in item 12.
131 wich respect to the taxes imposed by chapter 1 is not allowed as a credit
with respect to the surtax imposed by section 500. Hoivever, the deduction
under section 23(c)(2) of income, war-profits, and excess-profits taxes im-
posed by the authority of any foreign country or possession of the United
States is permitU'd for the purpose of computing the undistribtited sub-
chapter A net income subject to the surtax imposed by section GOO even
though the ta.\paytr claims a credit for such taxes against the taxes imposed
by chepter I.
Domestic corporations should enter in item 14 the amount of such taxes
shown on line 4, Schedule M, Form 1120, where any portion thereof has
been claimed as a credit in item 42, page 1, Form 1 120. but if such c
Fori?ign corporations should treat such taxes as deductions to be allocated
in accordance with section 119 in the computation of net income from sources
within the United States and in such cases taxes of this nature will be re-
flected in the net income stated in item 1 instead cf t>eing stated separately as
vidcs for the following dedu
(Paragraph (2) relates to the limited deduction for contributions or gifts
attached to the return,
18. Dividends paid credit. — Enter as item 18 the amount of the dividends
paid credit as computed in Schedule D. (See also General Instruction I.)
No duplication of credit allowances ftith respect tetany "deficiency divi-
L part of the basic t
Section 504(b) provides that in
net income" there shall be de-
ducted amounts used or irrevocably set aside to pay or to retire indebtedness
kind incurred prior to January 1, 1934, if such amounts are reasonable
fith reference
Indebtedness.
1 demand c
"Indebtedness" docs not include
3 capital stock.
The indebtedness must have been incurred (or, if incurred by assumption,
led) by the taxpayer prior to January 1, 1034, An indebtedr.i
denced by bonds,
ordinarily incurred as
of such indebtedness
cblieations. In the
indebtedness, ro long
between the taxpayer
by the taxpayer will n
taxable year, only for
The use or irrevocable setting aside must
discharge of indebttdness. Since, therefo
changes in the form of an nulebtcdnesi
creditor continues between flic taxpayer
promise to pay by the taxpay
■ other obligations issued by a corporation is
if the date such obligations arc issued, and the amount
3 the amount represented by the face value of the
ase of renewal or other changes in the form of an
as the relationship of debtor and creditor continues
and his creditor, the giving of a new promise to pay
t have the eSect of changing tho date the indebtedness
vocably set aside. — The deduction is allowable, in any
amounts used or irrevocably set aside in that year,
setting aside must b© to effect the extinguishment or
in the ca,se of renewal and other
the relationship of debtor and
deductio
for such
other conditions are
tion for any taxable
ell, all
nd his credit
- will not result in an allowable
3 year, no deduction is allowable
kctually paid As long i
Fei aside i
for a later year in which i , .
tisfied, the agflrcgate amount allowable aa a deduc-
ir includes all amounts (from whatever source) used
(from whatever .source) irrevocably set aside.
1 cash or other medium. Double dcductio
n'tk refere/ire to the size and terms of Ike
of the amounts used or irrevocably set
to the size and terms of the particular
ipective of whether
not peimitled.
Pcasonabteneis of the amount
inriebledness. — The reasonableni
aside must DC determined by ref
indebtedness. Hence, all the facts and circumstances with respect
nature, scope, conditions, amount, maturity, and other tcrtoa of the par-
ticular indebtedness must be shown in each case.
Ordinarily an amouiit used to pay or retire an indebtedness, in whole or
in part, at or prior to the maturity and in accordance with the terms thereof
will be considered reasonable, and may be allowable: as a deduction for the
yr.ir in which s:o L.,'cd, if no adjustmentis required by leason of an amount
set aside in a prior yeor for payment or retiromt^nt of the same indebtedness.
vnrably
icbtcdrr^s in accordance
n, for exanipl-', the Linm
tnry linking fund aprei
. will be consii. rc-l as ct-niplving with the
■nt of reascnablcncsti. Tf> 'i-- ■ ■ n -I'l r> ■! HLf nnablc. it is
not necessary that the plan cf retirement jr. , . , n ■. i r.' ulivc setting
?.side of aciounts for years prior to that in wl. ' ■ ; i-r-. ■ !. ['(i.ci. How-
ever, if a voluntary plan was adopted prior (o r .. ;, .i . ■ i-tin .nt is allow-
able in respect of the amounts set aside in thi: ;. t..ifa f. i- ! !■ ]Ml.
Ociicral. — The burden of proof wit! rest U;ion the tuxpuvir to sustain the
deduction claimed. Therefore, the taxpayer must furnish tho information
required by Schedule E of the return and such other iniormotion as the
Commissioner may require in substantiation of the dedt'ction claimed.
21. Dividends paid after dose of taxable year, excluding deSclencr divi-
dends ofl defined in section S06(c).— Enter as item 2i the amount of divi-
dendn paid after the elor^e of the taxable year and before the fifteenth day of
the third month thereafter, if claimed under section 504(c) in the return,
but only to the extent and subject to the Umitatious contained in that
ccctiou. (See General Instruction I.)
No duplication of credit allowances with respect to any "dcfietcncy divi-
dends" is permitted. If n cnrpomtion claims and receives the benefit of the
provicious of bccUod 506 based upon a distribution of "deficiency dlvidcnd^f,"
that distribution is not made the basis of tho 2^^-n)onth carry-back credit
provided for in sectioo 504(c). ts— ubm-i «. i. tt>T(*»iiiT r*iniia«oniu
INDEX
{Italic page numbers indicate data pertaining to excess profits tax returns, Form 1121;
# indicates serial number in basic table 2.)
A
Page
Abrasives and asbestos products, manufacturing (#88) 50-51, 301
Accounts and notes payable 142-226, 236 (note 52), 274-275, 297 (note 45)
Accounts payable \ 10, 16, 102-140, 250-265, 274-275
Accounts receivable, notes and (less reserve) _. 10, 16, 102-226, 250-265, 274-275
Active and inactive corporations. . 3-4, 22 (note 40), 293 (note 2), 297 (note 39)
Adjusted excess profits net income or. deficit 23, 26, 30, 238-249, 266 (note 2)
Classes __ 238-239, 2U-245, 248-249
Adjusted net income, 1936-39 314 (note 24), 315 (notes 25, 27)
Advertising (#179) 56-57
Affiliated corporations. See Consolidated returns.
Agents, brokers, etc. See Insurance; Real estate; Security and commodity-
exchange.
Agricultural, forest, etc., properties, lessors (#216) 58-59
Agricultural machinery, manufacturing (#113) 52-53, 302
Agriculture, forestry, and fishery, total 6, 27,
58-59, 73, 87, 101, 134-135, 222-223, 263, 281
Agriculture and services (#225) 58-59,
73, 87, 101, 134-135, 224-225, 263, 300, 303
Air mail carriers, certain 312 (note 2g (7))
Air transportation and allied services (# 1 34) 52-53
Aircraft and parts, manufacturing (#121) 52-53
Alcoholic beverages:
Retail — Package liquor stores (#161) 54-55,
66, 80, 94, 118-119, 184-185, 257
Wholesale (#150) 54^55
Amended returns excluded 2
Amortization:
Deduction 8, 15, 60-141,
235 (note 32), 250-265, 297 (notes 36, 51), 313 (note 4e)
Reserves 236 (note 45)
Amusement, except motion pictures (#186) 56-57,
69, 83, 97, 126-127, 204-205, 259
Anthracite mining (#7) 46-47, 60, 74, 88, 102, 144-145, 251
Apparel and accessories, retail (#163).-- 54-55, 67, 81, 95, 120-121, 186-187, 257
Apparel and clothing, manufacturing, 1936-41 277, 298 (note 56)
Apparel and dry goods, wholesale (#151) 54-55
Apparel and products made from fabrics, manufacturing 48-49,
62, 76, 90, 106-107, 156-157, 252, 300
Asbestos products, abrasives, manufacturing (#88) 50-51, 301
Assets. See Assets and liabilities; Capital; Gross; Intangible.
Assets and liabilities (returns with balance sheets) :
Consolidated returns 16
Historical summary, 1926-41 274-275
Industrial groups, major 102-134, 142-227
Not tabulated under specific captions ("Other assets") 236
(notes 44, 46), 297 (note 50)
Total assets classes 10, 11, 27, 28, 136-227, 236 (notes 45, 50), 264-265
Total 10, 11, 16, 102-227, 236 (note 45), 250-265, 274-275
Audit revisions not tabulated 2, 24, 35
353
354 INDEX
Page
Automobile accessories, parts {except electrical), and passenger trailers,
manufacturing (#118) : 52-53
Automobiles and equipment {except electrical), manufacturing 52-53,
64, 78, 92, 112-113, 170-171, 255, 300
Historical — Motor vehicles, complete or parts 279, 298 (note 58)
Automobiles and trucks (including bodies and industrial trailers) and
military vehicles, manufacturing (#117) 52-53,303
Automobiles and trucks, retail (#166) 54-55
Automotive dealers, retail 54-55, 67, 81, 95, 120-121, 190-191, 257
Accessories, parts, etc. (#167) 54-55
Automobiles and trucks (#166) 54-55
Automotive electrical equipment, manufacturing (#103) 50-51, 302
Automotive repair services and garages (# 1 82) 56-57,
69, 83, 97, 124-125, 200-201, 269
B
Bad dehisy//SJ'.V.VS.\V.\\\\\\VSSSSSS-V"J.\~V,Yb"m^\lV^
Reserve 236 (note 45)
Bakery products, manufacturing (#15) 46-47
Balance sheets, returns with (see also Assets and liabilities) 8-12,
16, 102-227, 235 (note 40), 260-265, 274-275
Banks and trust companies (#189) 56-57, 70, 84, 98, 128-129, 208-209, 261
Basic tables:
Excess profits tax returns, tables 10-16 238-268
Historical, 1909-41, tables 17-23 270-298
Income tax returns, tables 1-9 44-236
Batteries (autorr obile) , retail. (Included in "Automotive dealers —
Accessories, parts, etc.")
Beverages, alcoholic:
Retail— Package liquor stores (#161). 54-55, 66, 80, 94, 118-119, 184-185, 267
Wholesale (#150) 54-55
Beverages, manufacturing . 46-47,
61, 75, 89, 106-107, 152-153, 251, 272, 298 (note 54)
Liquors, blended, distilled, rectified (#26) 46-47
Malt liquors and malt (,#25) 46-47
Nonalcohohc (#28) 46-47
Wine (#27) 46-47
Bicycles, motorcycles, manufacturing (#123) 52-53
Bituminous coal, lignite, peat, etc., mining (#8) 46-47,
60, 74, 88, 102-103, 146-147, 251
Blast furnaces and rolling mills (#90) 50-51
Boat and ship building (#122) 52-53
Bodies and industrial trailers, automobiles, trucks, and militarv vehicles,
manufacturing (#117) 52-53, 303
Bonded debt and mortgages, 1926-36 274-275, 297 (note 46)
Bonds, Government. See Government obligations.
Bonds and mortgages payable 143-227, 236 (note 53)
Bonds, notes, mortgages, pavable 10, 16,
102-141, 236, (note 52), 250-265, 274^275, 297 (notes 45, 46)
Books and music, printing and publishing (#65) 48-49, 301
Broadcasting (radio) and television (#141) 54-55
Brokers, agents, etc. ^ee Insurance; Real estate; Security and commodity
exchange.
Building materials, fuel, ice, retail (#170). 54-55, 67, 81, 95, 122-123, 192-193, 258
Bus lines operated in connection with railways. (Included m "Railways,
etc." (#130) pp. 52-53).
Business service . - . 56-57, 69, 83, 97, 124-125, 200-201, 259
C
Canning fruits, vegetables, and sea foods (#17) 46-47
Capital assets:
Definition 297 (note 42)
Gain or loss from sale or exchange of, liistorical 312 (note 4b, par. 3)
Gross, except land 10, 102-134,236 (note 43), 250-265
Less reserves... 16, 136-226, 274-275
Reserves 10,102-134,250-266
INDEX 355
Page
Capital gain and loss adjustments (personal holding company returns) 34
Capital gain, net 8, 15,
60-141, 235 (note 23), 250-265, 272-275, 295 (note 16)
Capital loss, net, 1932-41 272-275, 296 (note 29)
Capital loss, net long-term 8, 1 5, 60-141, 235 (note 23) , 250-265
Capital loss, net short-term 21 (note 17)
Capital stock:
Common and preferred, separately 10, 16,
102-141, 236 (aote 47), 250-265, 274-275
Not designated 236 (note 47)
Total 143-227, 236 (note 54)
Carpets and other floor coverings, manufacturing (#36) 46-47
Cash 10, 16, 102-227, 235 (note 41), 250-265, 274-275
Cement, manufacturing (#86) 50-51
Cereal preparations, manufacturing (#20) 46-47
Certificates, guaranteed face-amount, and installment investment plans
(#197) 56-57
Chapter 1 net income or deficit (personal holding companies) 36
Chemicals and allied products, manufacturing 48-49,
63, 77, 91, 110-111, 162-163, 253, 279, 298 (note 57), 300
Chemicals, industrial, manufacturing (#76) 48-49, 301
Chemicals, paints, and drugs, wholesale (#152) 54-55
China Trade Act corporations 312 (note 4a),
314 (notes 14c, 23), 315 (note 24(6))
Classifications, text tables, and description of basic tables 3-18
Active and inactive corporations 3-4
Balance sheets, returns with, and returns with no balance sheets 8-12
Consolidated returns 14-16
Fiscal year returns-.. _ > lfr-17
Industrial divisions and groups 5-8-
Net income and deficit classes ^ 12-13
Net income, returns with, and returns with no net income 4
Part year returns 18
States and Territories 4-5
Total assets classes --- 10-12
Type of tax liability 12.'
Clay products, structural, manufacturing (#83) 50-51, 301
Clay, stone, and glass products, manufacturing 50-51,
63, 77, 91, 110-111, 164-165, 253, 279, 300
Cleaners and dyers, laundries (#175) 54-55
Clocks and watches, manufacturing (#98)_-_ 50-51
Clothing and apparel, manufacturing, 1936-41 277, 298 (note 56)
Clothing, manufacturing. See Men's; Rubberized; Women's.
Coal mining — Anthracite (#7) , Bituminous (#8) , separately 46-47,
60, 74, 88, 102, 144^147,^5^
Coal products, petroleum products, manufacturing 50-51,
63, 77, 91, 110-111, 164-165, 253, 279, 298 (note 57)
Coal yards. (Included in "Building materials, fuel, and ice," retail.)
Code, Internal Revenue, changes in law affecting returns 2-3,
23-25, 306-311, 315 (notes 30, 31, 33, 34)
Collections, comparison with tax liability 20
Colors, paints, varnishes, manufacturing (#69) 48-49, 301
Commercial printing (#66) ' 48-49
Commission merchants (#148) 54-55, 65, 79, 93, 116-117, 180-181, 256
Commodity-exchange brokers and dealers, security and (#202) 56-57,
71, 85, 99, 130-131, 214r-215, 261
Common stock 10, 16, 102-141, 236 (note 47), 250-265, 274-275
Communication 54-55, 65, 79, 93, 114-115, 176-177, 255
Communication equipment and phonographs, manufacturing (#104). 50-51, 303
Comparability of historical data 38-40
Comparability of tax liability and tax collections 20
Comparison with 1940, summary 2, 23, 32
Compensation of ofiicers 8, 15, 60-141, 235 (note 35), 250-265, 272-275
Compiled deductions. See compiled receipts and compiled deductions.
Compiled net profit less total tax 9, 15, 60-87, 102-135, 137, 139, 250-265
Compiled net profit or net loss 9, 11, 15, 60-227, 250-265, 272-275
356 INDEX
Compiled receipts and compiled deductions: Page
Balance sheets, returns with 8, 103-141, 250-265, 274-275
Historical summary, 1926-41 272-275
Industrial groups 60-135, 260-263
Total assets classes 136-141, 264.-265
Total compiled deductions 8, 15, 60-141, 235 (note 37), 260-265, 272-275
Total compiled receipts 6, 8,
11, 15, 44-227, 234 (note 4), 250-265, 272-275, 293
Concrete and gypsum products, wallboard, manufacturing (#87) 50-51
Confectionery, manufacturing (#16) 46-47
Consolidated returns:
Adjusted excess profits net income classes and method of credit com-
putation 244-2/1.6
Affiliated group defined 14,317-321
.Assets and liabilities 16
Compiled receipts and deductions 15
Criterion of affiliation 317-321
Historical data 293
Normal tax net income classes and method of credit computation 246-247
Provisions for filing and tax rates under the Federal tax laws for the
income years 1917 through 1941 317-321
Subsidiaries 244-247, 266 (note 11), 293
Summary data 14, 15, 29, 293
Tax rates 314 (note 17), 317-321
Construction equipment, electrical, manufacturing. (Included in "Elec-
trical equipment.")
Construction and mining machinery {except electrical), manufacturing
(#112) 52-53, 302, 303
Construction, total 6, 27, 58-59, 73, 87, 101, 134-135, 222-223, 263, 281
Containers (wooden), manufacturing (#56) 48-49
Contractors— general (#222) , special trade (#223) 58-59
Contributions or gifts 8, 15,
34, 60-141, 235 (note 31), 250-266, 272-275, 313 (note 4d)
Copper mining (#2) 46-47
Cork products, manufacturing. (Included in "Other finished lumber prod-
ucts" (#58), pp. 48-49.)
Cost of goods sold, and cost of operations, separately 8,
15, 60-141, 250-265, 272-275, 295 (note 13)
Certain deductions reported in 235 (note 28)
Cotton manufactures (#31)__-5, 46-47, 61, 75, 89, 106-107, 154-155, 252, 300, 301
Credit agencies:
Long-term, and mortgage companies, except banks (# 190) 56-57,
70, 84, 98, 128-129, 210-211, 261
Short-term, except banks 56-57, 71, 85, 99, 128-129, 210-211, 261
Industrial, and sales finance (#191) 56-57
Personal (#192) 56-57
Credit, excess profits. See excess profits credit.
Credit for dividends paid 36, 312 (note 4a, par 3)
Credit for dividends received 312 (note 4a)
Credit for tax paid to foreign countries or possessions of the United States. 19,
20, 34, 307-311, 314 (notes 14, 18), 315 (note 37)
Credit, specific, for income tax purposes 306-310, 312 (note 3), 315 (note 25)
Crude petroleum, natural gas, and natural gasoline production (#9) 46-47
Crude petroleum and natural gas production 46-47,
61, 75, 89, 104-105, 146-147, 251
Cutlery, hardware, and hand tools, manufacturing (#93) 50-51, 303
Cut-stone products, manufacturing (#82) 50-51
D
Dairy products, manufacturing (#21) 46-47
Data tabulated . 18-19, 24, 32
Dealers:
Automobiles and trucks, retail (#166) 54-55
Automotive accessories, parts, etc., retail (# 167) 54-55
Automotive, retail 54-55, 67, 81, 95, 120-121, 190-191, 267
Security and commodity-exchange brokers (#202) 56-57,
71, 85, 99, 130-131, 214-215, 261
INDEX 357
Page
Debt, bonded, and mortgages, 1926-36 274-275, 297 (note 46)
Debts, bad 8, 15, 60-141, 250-265, 272-275
Reser\'e 236 (note 45)
Declared value excess-profits tax reported on Form 1120:
Amount tabulated 21 (note 3), 294 (note 6)
Balance sheets, returns with 9,28, 102-135, 137, 139, 250-265
Comparison with 1940 2
Consolidated returns (Railroad and Pan-American corporations) 15,
21 (note 3), 293
Defense tax rates integrated 3
Fiscal year returns 17
Historical summaries, 1933-41 270, 276-293, 294 (note 6)
Industrial divisions and groups 6,
47-59, 60-87, 102-135, 250-263, 276-281
Interest on Government obligations subject to 8,
15, 60-141, 232, 234 (note 19), 250-265, 272-275
Net income classes 13, 228, 229, 231
Net income subject to 314 (note 20)
Part year returns 18
Rates, historical 309-31 1
States and Territories 45, 282-292
Synopsis of Federal tax laws 309-31 1
Total assets classes 28, 137, IZ% 26^-265
Deduction due to net operating loss of preceding taxable year 9,
15, 34, 60-87, 103-135, 137, 139, 235 (note 34), 250-265, 272-275,
293, 296 (note 32), 313 (note 4c).
Deductions:
Allowable, historical 312 (note 4), 313 (note 4)
Compiled. See Compiled receipts and compiled deductions.
Equal to net income, classification of returns with ^56 (note 7)
In cost 235 (note 28), 296 (note 24)
Not tabulated under specific captions ("Other deductions") 8,
15, 60-141, 235 (notes 33, 36), 250-265, 272-275
Personal holding company returns 34, 36
. Special, allowed life insurance carriers 7, 234 (note 13), 235 (note 36)
Defense tax 3, 236 (note 60)
Deficit classes 9, 13, 17, 229-233, 271
Deficit, excess profits net income or._. 23, 26, 30, 238-249, 266 (note 4), 307-5ii
Deficit (no net income). See Net income or deficit.
Deficit, normal-tax net income or 25,30, 238-249
Deficit in surplus and undivided profits 10,
16, 102-141, 236 (note 49), 250-265, 274^275
Department, dry goods, and other general merchandise stores (#157) 54-55
Depletion, depreciation, separately 8,
15, 60-141, 250-265, 272-275, 297 (notes 36, 51)
Reserves 236 (note 45)
Distilled, rectified, and blended liquors (#26) 46-47
Dividends paid:
After close of taxable year (personal holding company returns) 36
Cash and assets other than corporation's own stock •_ 9,
15, 45-141, 233, 234 (note 8), 250-265, 270, 272-273
Corporation's own stock 9, 15, 60-141, 233, 250-265, 270, 272-273
Credit for 36, 312 (note 4a, par. 3)
Dividends received:
Credit 312 (note 4a)
From domestic and foreign corporations, separately 8,
15, 60-141, 232, 235 (notes 25, 26), 250-265, 272-275, 295 (note 18)
Taxability 312 (note 4a), 315 (note 28)
Drinking places, eating and (#165) 54-55, 67, 81, 95, 120-121, 188-189, 257
Drug stores, retail (#162) 54-55, 67, 81, 95, 118-119, 186-187, 257
'Drugs, chemicals, paints, wholesale (#152) 54-55
Drugs, toilet preparations, etc., manufacturing (#71) 48-49, 301
Dry goods and apparel, wholesale (#151) , 54-55
Dry goods, department, and other general merchandise stores, retail (#157) . 54-55
358 INDEX
Dyeing and finishing: " Page
Textiles, except woolen and worsted (#37) 46-47
Woolen and worsted manufactures (#32) 46-47
Dyers, laundries, cleaners (#175) 54-55
E
Eating and drinking places (#165) 54-55, 67, 81, 95, 120-121, 188-189, 257
Electric light and power (#143) 54-55
Electrical appliances, manufacturing (#105) 50-55, 302, 303
Electrical equipment, manufacturing:
Automotive (#103) 50-51, 302
Communication, and phonographs (#104) 50-51, 303
For public utility, manufacturing, mining, transportation {except auto-
motive), and construction use (#102) 50-51, 302
Electrical goods, plumbing and heating equipment, hardware, wholesale
(#153) 54-55
Electrical machinery and equipment, manufacturing 50-51,
64, 78, 92, 112-113, 168-169, 254, 300'
Engines and turbines, manufacturing (#111) 52-53 ■
Excess profits credit, Form 1121 — Method of computation 26,
30, 238-249, 266 (note 5)
Carry-over 23, 26, 28, 238-249, 266 (norte 6)'
Excess-profits credit. Forms 1120 and 1121, historical. _ _ 307-311, 314 (note 11)
Excess profits net income or deficit, Form 1121 23*.
26, SO, 238-249, 266 (note 4), 311
Computation 315 (note 36)
Excess profits tax deducted in arriving at normal-tax net income 2, 24,
■ 314 (note 22)
Excess profits tax deduction, income tax returns showing 26, 250-265
Excess-profits tax reported on Form 1120. See Declared value excess-
profits tax.
Excess profits tax reported on Form 1121 234 (note 7), 294 (note 6)
Adjusted excess profits net income classes 238-239, 245, 249
Balance sheets, returns with 9, 102-135, 137, 139, 250-265
Comparison with 1940 2'
Consolidated returns 15, 244-247
Fiscal year returns 17
Highest rate applicable 29
Industrial divisions 6, 27
Industrial divisions and major groups 60-87, 103-135, 250-263
Industrial divisions and minor groups 46-59
Method of credit computation 24, 26, SO, 238-249, 266 (note 5)
Net income classes 13, 228-230
Normal-tax net income classes SO, 241, 243, 247, 266 (note 3)
Part vear returns 18
Percentage distribution 25, 27, 29
Rates 24,25,311
States and Territories 45
Summary 2,23
Synopsis of Federal tax laws 311
Total assets classes 27-28,264-265
Excess profits tax returns (Form 1121):
Changes in provisions of Code 24
Comparison of taxable and nontaxable returns i.- 24,25
Consolidated returns 244-247.
Data estimated 24
Distribution of taxable returns and tax 25
Facsimile 339-348
Filed under 1941 law and under 1940 law 23, 29'
Form 1121 filed in addition to Form 1120 312 (note 2g)
Returns included 23
Tabulations (including data from Form 1120 for corporations filing
Form 1121):
Basic 2S8-265
List 237
Text ^ 23-30
Excess profits taxes, total (including war-profits tax), 1917-41 270,
276-292, 294 (note 6)
INDEX 359
Page
Exemption, specific, for excess profits tax purposes.' 307-311, 313 (note 6)
Express companies, railway (#129) 52-53
F
Fabrics, apparel and products made from, manufacturing 48-49,
62, 76, 90, 106-107, 156-157, 252, 300
Fabrics and clothing, rubberized, manufacturing. (Included in "Other
rubber products" (#51), pp. 48-49.)
Facsimiles of returns 324-352
Federal tax laws, synopsis of 306-321
Fertilizers, manufacturing (#73) 48-49
Field service operations, crude petroleum and natural gas (#10) 46-47
Filing returns, requirements, historical 312 (note 2)
Filling stations (#168) 54-55, 67, 81, 95, 120-121, 190-191, 257
Finance companies. See credit agencies.
Finance, insurance, real estate, and lessors of real property, total 6j
27, 56-57, 70, 84, 98, 128-129, 206-207, 260, 281
Finance, total 56-57, 70, 84, 98, 128-129, 208-209, 260
Finishing. See Dyeing and finishing; Textiles; Leather; Woolen and
worsted.
Fiscal year returns. 16, 17, 20 (par. 4), SI (note 1), 231, 266 (note 1), 312 (note 2b)
Fishery (#227) 58-59, 73, 87, 101, 134-135, 226-227, 268
Fishery, agriculture, forestry. 6, 27, 58-59, 73, 87, 101, 134-135, 222-223, 263, 281
Fixtures, partitions, manufacturing (#55) 48-49
Flavoring sirups, manufacturing. (Included in "Other food, etc." (#23),
pp. 46-47.)
Floor coverings, carpets, manufacturing (#36) 46-47
Food and kindred products, manufacturing 46-47,
61, 75, 89, 104-105, 150-151, 261, 276, 298 (note 54)
Food stores, including market milk dealers:
Retail (#160) 54-55, 66, 80, 94, 118-119, 184-185, 257
Wholesale (#149) 54-55
Footnotes:
Basic tables 1-9, Form 1120 234-236
Basic tables 10-16, Form 1121 266-268
Basic tables 17-23, historical, 1909-41 293-298
Text tables. Form 1120 21
Text tables. Form 1121 31
Footwear, manufacturing:
Except rubber (#47) 48-49
Rubber. (Included in "Other rubber products" (#51), pp. 48-49.)
Foreign corporations:
Dividends received from 8, 15,
60-141, 232, 235 (note 26), 250-265, 272-275
Nonresident, data not included ^ 2, 314 (note 23b)
Requirements for filing returns 312 (note 2c)
Tax 3, 313 (notes 8, 10), 314 (note 23)
Foreign sources, domestic corporations with net income largely from 312
(note 2g (6))
Foreign taxes — income and profits t&xes paid to foreign countries or pos-
sessions of the United States 19,
20, 34, 307-311, 314 (notes 14, 18), 315 (note 37)
Forest, agricultural, etc., properties, lessors (#216) 58-59
Forest products (lumber, etc.), manufacturing, historical summary, 1931-
41 278
Forestry (#226) 58-59, 73, 87, 101, 134-135, 224-225, 263
Forestry, agriculture, fishery. 6, 27, 58-59, 73, 87, 101, 134-135, 222-223, 263, 281
Forms:
Excluded from tabulations 2'
Facsimiles of corporation returns:
Excess profits tax return. Form 1121 339-348
Income, declared value excess-profits and defense tax return,
Form 1120 . 324-334
Insurance company income tax return, Form 1120L 335-338
Personal holding company return, Form 1120H 349-352:
360 INDEX
• Page
Freight transportation, highway; warehousing, storage (#133) 52-53
Fuel, ice, building materials, retail (#170) 54-55
67, 81, 95, 122-123, 192-193, 258
Tur garments and accessories, manufacturing (#42) 48-49
Furniture and finished lumber products, manufacturing 48-49,
63, 77, 91, 108-109, 160-161, 26S, 278, 300
Furniture and house furnishings, retail (# 1 64) 54-55,
67, 81, 95, 120-121, 188-189, 257
Furniture (wood and metal), manufacturing (#54)__- 48-49, 301, 303
G
Gain, net capital 8»
15, 60-141, 235 (note 23), 250-265, 272-275, 295 (note 16)
Gain or loss, net:
Sale of property other than capital assets 8,
15, 60-141, 235 (note 24),, 250-265, 272-275
Sale of stocks, bonds, and other assets, historical 272-275
Garages, automotive repair services (# 1 82) 56-57,
69, 83, 97, 124-125, 200-201, 259
Gas and gasoline, natural, and crude petroleum production (#9) 46-47
Gas, manufacture and distribution (#144) 54-55
Gas, natural, and crude petroleum, field service operations (#10) 46-47
Gas, natural, and crude petroleum, production, 46-47,
61, 75, 89, 104-105, 146-147, 251
Gas, oil, and mineral royalty companies (#198) 56-57
General average method, excess profits credit computation 26,
30, 238-249, 266 (note 5)
General contractors (#222) 58-59
General industry machinery, manufacturing (#109) 52-53, 302, 303
General merchandise, retail 54-55, 66, 80, 94, 118-119, 182-183, 257
Geographic distribution of returns, comparability 4, 39
Gifts, contributions 8,
15, 34, 60-141, 235 (note 31), 250-265, 272-275, 313 (note 4d)
Glass and glass products, manufacturing (#85) 50-51,301
Glycerin, soap, manufacturing (#70) 48-49
Gold and silver, mining (#4) 46-47
Government contracts 307, 309, 314 (note 13)
Government obligations:
Interest, taxable and tax-exempt, separately 8, 15, 60-141, 232, 234
(notes 18, 19, 20, 21), 250-265, 212-21 b, 296 (notes 20, 34)
Investments 10, 16, 102-140, 236 (note 42), 250-265, 274-275
Grain mill products (except cereal preparations), manufacturing (#19) 46-47
Gravel, stone, sand, quarrying (#11) 46-47
Gross capital assets (except land) 10. 102-134, 236 (note 43), 250-265
Gross income, historical 270, 276-292, 293 (note 3) , 298 (note 62)
Gross profit from operations, 1926-31 272-273, 295 (note 13)
Gross receipts from operations 8, 15, 60-141, 234 (note 17), 250-265, 272-275
Gross sales 8, 15, 60-141, 234 (note 16), 250-265, 272-275, 295 (note 12)
Gross sales and gross receipts from operations 143-227
Gypsum products, wallboard, concrete, manufacturing (#87) 50-51
H
Hand tools, cutlery, and hardware, manufacturing (#93) 50-51, 303
Hand trades and miscellaneous repair services (#183) 56-57,
69, 83, 97, 126-127, 202-203, 259
Hardware, electrical goods, plumbing and heating equipment, wholesale
■ (#153) - 54-55
Hardware, hand tools, cutlery, manufacturing (#93) 50-51, 303
Hardware, retail (#169) - _ _ i 54-55, 67, 81, 95, 122-123, 192-193, 258
Hats (except cloth and milhnery), manufacturing (#35) 46-47
Heating apparatus (except electrical) and plumbers' supplies, manufac-
turing (#94) 50-51,302
Heating and plumbing equipment, hardware and electrical goods, whole-
sale (#153) 54-55
INDEX 36i
Page
Highway freight transportation, warehousing, and storage (#133), 52-53
Historical data:
Assets and liabilities, 1926-41 274-275
ComDarability 38-40
Consolidated returns, 1928-41 293
Footnotes ♦ 293-298
• Geographic distribution 39
Gross income 270,276-292,293 (note 3), 298 (note 62)
Industrial groups, 1932-41 -■ 276-281
Laws, Federal tax, synopsis, 1909-41 306-321
Net income and deficit classes, 1938-41 " 271
Receipts and deductions, 1926-41 272-273
Source, 1909-15 295 (note 8)
Source Book of Statistics of Income, description 40-41
States and Territories, 1932-41 282-292
Summary, 1909-41 270
Tabulations 270-293
Description 37-38
List 269
Holding companies (#200) . 56-57, 234 (notes 11,12)
Hotels and other lodging places (#174) ._ 54-55, 68, 82, 96, 124-125, 198-199, 259
House furnishings, furniture, retail (#164). ._ 54-55, 67, 81, 95, 120-121, 188-189, 257
Household and service-industry machines, manufacturing (#115) 52-53, 303
Ice, building materials, fuel, retail (#170) 54-55,
67, 81, 95, 122-123, 192-193, 258
Ice, manufacturing. (Included in "Other food" etc. (#23), pp. 46-47.)
Improper accumulation of surplus, 1913-41 316 (note 40)
Improvement, owners for (#211) 58-59
Inactive corporations 3-4, 22 (note 40), 293 (note 2), 297 (note 39)
Income. See Adjusted; Chapter 1, Excess profits; Gross; Net; Normal-tax;
Receipts; Subchapter A; Surtax; Total; Total compiled receipts; Undis-
tributed; etc.
Income method, excess profits credit computation, 26, 30, 238-249, 266 (note 5a)
Income and profits taxes paid to foreign countries or possessions of the
United States 19, 20, 34,. 307-311, 314 (notes 14, 18), 315 (note 37)
Income tax {see also Normal tax. Surtax) . 2, 21
(note 2), 28, 231, 270, 293, 294 (note 5), 276-293
Income, taxable 312 (note 4)
Increased earnings method, excess profits credit computation 26,
30, 238-249] 266 (note 5a)
Indebtedness,, amounts to retire (personal holding company returns) 36
Industrial chemicals, manufacturing (#76) 48-49, 301
Industrial credit agencies and sales finance (#191) 56-57
Industrial divisions and groups:
Assets and liabilities : 102-134, 142-227
Classification, text tables, and description of basic tables 5-8,
39-40, 234 (note 9)
Comparabihty 39-40, 297 (note 52),- 298 (note 53), 300-303
Compiled receipts and compiled deductions 60-135
Divisions only ' 6, 27
Excess profits tax leturns 250-263
Groups in which changes occur between 1941 and 1940 (chart):
Major 300
Minor 301-303
Historical, 1932-41 39, 276-281, 297 (note 52), 298 (note 53)
Major groups 60-135, 142-227, 250-263, 276-281
Minor groups 46-59
Total assets classes 142-227
Inner tubes and tires, manufacturing (#50) 48-49
Installment investment plans and guaranteed face-amount certificates
(#197) 56-57
Insurance agents, brokers, etc. (#208) ._ 56-57, 72, 86, 100, 132-133, 218-219, 262
362 INDEX
Page
Insurance carriers 56-57, 71, 85, 99, 132-133, 218-219, 262
Life (#205) 56-57, '
234 (note 13), 235 (note 36), 297 (note 50), 312 (note 2b) i
Facsimile of return 335-338
Mutual, excevt life (#206) 56-57
Other than life and mutual (#207) 56-57
Special deduction allowed life companies 235 (note 36)
Tax rates 314 (notes 15, 23)
Insurance carriers, agents, etc 56-57, i
71, 85, 99, 132-133, 216-217, 234 (note 13), 262 i
Intangible assets 297 (note 42) ;
Interest paid 8, 15, 60-141, 250-265, 272-275 \
Interest received, noi on Government obligations 8, 15,
60-141,^50-^65,272-275
Interest received on Government obligations, taxable and tax-exempt,
separately 8, 15,
60-141, 232, 234 (notes 18, 19, 20, 21), 250-265, 272-275, 296 (notes 20, 34)
Internal Revenue Code, changes in law affecting returns 2, 3, j
23-25, 306-311, 315 (notes 30, 31, 33, 34) '
Inventories 10, 16, 102-226,^50-^65, 274-275
Invested capital 313 (note 7), 315 (note 35)
Invested capital method, excess profits credit 26, SO, 238-249, 266 (note 5b)
Investment plans (installment) and guaranteed face-amount certificates
(#197) 56-57
Investment trusts and investment companies 56-57,
71, 85, 99, 130-131, 212-213, 234 (note 10), 261
Fixed or semifixed type (#196), management type (#195) 56-57
Investments:
Government obligations. __ 10, 16, 102-140, 236 (note 42), 250-265, 274-275
Not Government obligations 10, 16, 102-140, 250-265, 274-275
Total, by major industrial groups 142-227
Iron mining (#1) 46-47
Iron, steel, and products, manufacturing , 50-51,
63, 77, 91, 110-111, 166-167, 264, 279, 298 (note 58), 300
J
Jewelry, costume, manufacturing. (Included in "Other manufacturing"
(#126), pp. 52-53.)
Jewelry {except costume), silverware, plated ware, manufacturing (#99) 50-51
K
Knit goods, manufacturing (#34) 46-47
L
Land (capital assets) 10, 102-135, 250-265
Laundries, cleaners, and dyers (#175) 54-55
Laws, Federal tax, synopsis, 1909-41 306-321
Lead and zinc, mining (#3) 46-47
Leather and products, manufacturing 48-49,
62, 76, 90, 108-109, 156-157, 253, 277, 300
Leather, tanned, curried, and finished, manufacturing (#46) 48-49
Lessee operators of buildings (#210) 58-59
Lessors of buildings, and owner operators (#209) 58-59
Lessors of real property, except buildings 58-59,
72, 86, 100, 132-133, 220-221, 263
Liabilities. See Assets and liabilities.
Life insurance companies (#205) • 56-57,
234 (note 13), 235 (note 36), 297 (note 50), 312 (note 2b)
Lignite, bituminous coai, peat, etc., mining (#8) 46-47,
60, 74, 88, 102-103, 146-147, 251
Limited-price variety stores, retail (#158) 54-55 '
Liquor stores, package, retail (#161) 54-55, 66, 80, 94, 118-119, 184-185, 257
Liquors and beverages, manufacturing, 1933-41 277, 298 (note 54)
Liquors, distilled, rectified, and blended, manufacturing (#26) 46-47
INDEX 363
Page
Liquors, malt, manufacturing (#25) 46-47
Loan companies. See Credit agencies.
Lodging places, hotels (#174) 54-55, 68, 82, 96, 124-125, 198-199, 259
Logging camps and sawmills (#52) 48-49
Long-term credit agencies, mortgage companies, except banks (#190) 56-57,
70, 84, 98, 128-129, 210-211, 261
Loss, net:
Capital, 1932-41 272-275,296 (note 29)
Capital, long-term 8, 15, 60-141, 235 (note 23), 250-265
Capital, short-term 21 (note 17)
Prior year — , 9,
15, 34, 60-87, 103-135, 137, 139, 235 (note 34), 250-265, 272-275,
293, 296 (note 32), 313 (note -4c).
Sale of stocks, bonds, and other assets, historical 272-275
Sales other than capital assets. . 8, 15, 60-141, 235 (note 24), 250-265, 272-275
Losses in deductions 235 (note 33), 312-313 (note 4b)
Lubricants, manufacturing. (Included in "Other chemical products"
(#77), pp. 48-49.)
Lumber and millwork, wholesale (#154) 54-55
Lumber products, finished, and furniture, manufacturing 48-49,
63, 77, 91, 108-109, 160-161, 25S, 278, 300
Lumber and timber basic products, manufacturing 48-49,
62, 76, 90, 108-109, 158-159, 253
Historical — Forest products 278
M
Machine tools, metal-working machinery, manufacturing (#110) 52-53, 302
Machinery, agricultural, manufacturing (#113) 52-53,302
Machinery and equipment, electrical, manufacturing 50-51,
64, 78, 92, 112-113, 168-169, 254, 300
Machinery (except transportation equipment and electrical), manufacturing. 52-53,
64, 78, 92, 112-113, 168-169, 254, 300
. Machines, manufacturing:
Engines and turbines (#111) 52-53
Household and service-industry (#115) 52-53, 303
Office and store (#114) ._ 52-53, 302, 303
Mail-order houses, retail (#159) . 54-55
Major industrial groups . 60-135, 142-227, 250-263, 276-281
Changes between 1941 and 1940 (chart) 1 300
Malt liquors and malt, manufacturing (#25) 46-47
Manufacturing, total 6, 27, 46-47, 61, 75, 89, 104-105, 150-151, 251, 276
Matches, manufacturing (#57) 48-49
Meat products, manufacturing (#18) 46-47
Men's clothing, manufacturing (#40) 48-49
Metal manufacturiVig :
Furniture (wood and metal) (#54) 48-49,301,303
Nonferrous, basic products (#97) 50-51
Structural steel, fabricated; ornamental metal work (#91) _. 50-51, 302
Metal mining 46-47, 60, 74, 88, 102-103, 144-145, 251
Metal and its products, manufacturing, 1932-41 278, 298 (note 58)
Metal work, ornamental; structural steel, fabricated, manufacturing
(#91) 50-51,302
Metal-working machinery, including machine tools (#110) 52-53, 302
Metals, nonferrous, and their products, manufacturing 50-51,
63, 77, 91, 112-113, 166-167, 254, 300
Historical. (Included in "Metal and its products," p. 279.)
Military vehicles, automobiles, and trucks (including bodies and industrial
trailers), manufacturing (#117) 52-53, 303
Milk dealers (market) and food stores:
Retail (#160) 54-55, 66, 80, 94, 118-119, 184-185, 257
Wholesale (#149).. 54-55
Millinery manufacturing (#43) 48-49
Millwork and lumber, wholesale (#154) 54-55
Mineral, oil, and gas royalty companies (#198) 56-75
364 INDEX
Pags
Mining and construction machinery {except electrical), manufacturing
(#112) 52-53, 302, 303
Mining machinery (electrical), manufacturing. (Included in "Electrical
equipment" (#102), pp. 50-51, 302.)
Mining properties — oil, etc., lessors (#217) 58-59
Mining and quarrying, total. _ 6, 27, 46-47, 60, 74, 88, 102-103, 142-143, 250, 276
Minor industrial groups 46-59
Changes between 1941 and 1940 (chart) : 301-303
Mortgage companies, long-term credit agencies, except banks (#190) 56-57,
70, 84, 98, 128-129, 210-211, 261
Mortgages, bonded debt, 1926-36 274-275, 297 (note 46)
Mortgages, bonds, notes, payable 10,
16, 102-141, 236 (note 52), 250-265, 274-275, 297 (notes 45, 46)
Motion pictures 56-57, 69, 83, 97, 126-127, 202-203, 259
Production (#184); Theaters (#185) 56-57
Motorcycles and bicycles, manufacturing (#123) 52-53
Motor vehicles, complete or parts, manufacturing, 1936-41- _ 279, 298 (note 58)
Music books, printing and publishing (#65) 48-49, 301
Mutual insurance companies, except life (#206) 56-57
Mutual investment companies. 312 (notes 2g(3), 4a), 314 (note 23), 315 (note 38)
N
National Industrial Recovery Act 308, 314 (note 19)
Natural gas and crude petroleum, field service operations (#10) 46-47
Natural gas and crude petroleum production 46-47,
61, 75, 89, 104-105, 146-147, 251.
Natural gasoline, natural gas, and crude petroleum production (#9) 46-47
Net capital gain.. 8, 15, 69-141, 235 (note 23), 250-265, 272-275, 295 (note 16)
Net capital loss, 1932-41 272-275, 296 (note 29)
Net capital loss, long-term 8, 15, 60-141, 235 (note 23), 250-266
Net gain or loss:
Sale of stocks, bonds, and other assets, historical 272-275
Sales other than capital assets 8,
15, 60-141, 235 (note 24), 250-266, 272-275
Net income or deficit {see also Adjusted; Chapter I, Excess profits; Normal-
tax; Subchapter A; Surtax; Undistributed; etc.):
Balance sheets, returns with 9, 11, 28, 102-141, 250-265, 274-275
Classes 9, 13, 17, 228-233, 271
Classification and definitions 4, 234 (note 3), 294 (note 4)
Comparison with compiled net profit, 1926-41 296 (note 31)
Comparison with 1940 2
Consolidated income tax returns 15, 293
Fiscal vear returns 17
Industrial groups 6, 46-135, 143-227, 250-263, 276-281
Part year returns * 18
Returns with net income and returns with no net income — all tabula-
tions except pp. 9, 272-275.
States and Territories 44
Summary, 1909-41 270-293
Total assets classes 11, 28, 136-141, 143-227, 264-265
Type of tax liability 228-231
Not income subject to income tax, historical 306-311, 312-313 (note 4)
Net long-term ca))ital loss.: 8, 15, 60-141, 235 (note 23), 250-265
Net loss, sales other than capital assets 8,
15, 60-141, 235 (note 2^), 250-265 ,,272-27 b.
Net operating loss deduction 9,
15, 34, 60-87, 103-135, 137, 139,235 (note 34), ,?50-^^.5, 272-275.
293, 296 (note 32), 313, (note 4c).
Not i)rofit or loss, compiled 9, 1 1 , 1 5, 60-227, 250-265, 272-275
Net short-term capital loss 21 (note 17)
Newsi)aT)ers, ])rinting and publishing (#63) 48-49
Nonalpoliolic beverages, maTiufacturing (#28) 46-47
Nonforrous metal basic jiroducts, manufacturing (#97) 50-51
Nonforrous metals and their ])roducts, manufacturing 50-5 1 ,
63, 77, 91, 112-113, 166-167, 254, 279, 298 (note 58), 300.
Historical. (Included in "Metals and their products," p. 279.)
INDEX 365
Page
Nonmetallic mining and quarrying 46-47, 61, 75, 89, 104-105, 148-149, 251
Nonresident foreign corporation returns not included 2, 314 (note 23b)
Normal tax:
Amount tabulated 234 (note 5)
Balance sheets, returns with 9, 102-135, 137, 139, 260-265
Comparison with 1940 21 (note 2)
Consolidated income tax returns 15
Fiscal year returns 17
Industrial divisions and groups 6, 46-58, 60-87, 103-135
Net income classes 13, 228-230
On returns of corporations reporting excess profits tax liability 250-265
Part year returns 18
Rates 3, 308-310
States and Territories 44
Summary 1
Synopsis of Federal tax laws__ 308-310
Total assets classes 137, 139,264-265
Normal-tax deficit 238-249
Normal-tax net income 25, SO, 2S8-249
Basis for excess profits net income 315 (note 36)
Classes 25, SO, 240-243, 246-247, 266 (note 3)
Notes, accounts, payable 142-226, 236 (note 52), 274-275, 297 (note 45)
Notes and accounts receivable (less reserve).-. 10, 16, 102-226, 250-265, 274-275
Notes, bonds, mortgages, payable 10,
16, 102-140, 236 (note 52) 250-265, 274-275, 297 (notes 45, 46).
Number of returns. See specific type of return or classification.
Also: Summary and comparison with 1940 2
O
Office and store machines, manufacturing (#114) 52-53, 302, 303
Oil and mining properties, lessors (#217) 58-59
Oil (petroleum) refining (#79) 50-51
Oil, gas, and mineral royalty companies (#198) 56-57
Oils (animal and vegetable), except lubricants and cooking oils, manufac-
turing (#74) 48-49
Oils (cooking), manufacturing. (Included in "Other food, etc." (#23),
pp. 46-47.)
Operating-holding companies (#201) 56-57, 234 (note 12)
Operating loss (prior year) deduction, net 9, 15,34, 60-87, 103-135, 137, 139,
235 (note 34), 250-265, 272-275, 293, 296 (note 32), 313 (note 4c).
Owners for improvement, real estate (#211) 58-59
Owner operators and lessors of buildings (#209) 58-59
Package liquor stores, retail (#161) 54-55, 66, 80, 94, 118-119, 184-185, 257
Paints, chemicals, and drugs, wholesale (#152) 54-55
Paints, varnishes, and colors, manufacturing (#69) 48-49, 301
Pan-American trade corporations, consolidated returns 14
Paper and allied products, manufacturing 48,
49, 63, 77, 91, 108-109, 160-161, 253, 300
Historical — Paper, pulp, and products 278
Part year returns 18
Partitions and fixtures, manufacturing (#55) 48-49
Parts, aircraft and, manufacturing (#121) 52-53
Parts (automobile) and accessories (except electrical), and passenger trailers,
manufacturing (#118) 52-53
Peat, bituminous coal, lignite, mining (#8) 46-47,
60, 74, 88, 102-103, 146-147, 251
Percentage distributions :
Excess profits tax returns ■-,. 25, 27, 28, 29
Income tax returns 2, 6, 9
Personal holding company returns ; 32
Periodicals, printing and publishing (#64) _. 48-49
589783—44 24
366 INDEX
Page
Personal credit companies (#192) 56-57
Personal holding company returns (Form 1120H):
Chapter 1 net income 36
Comparison with 1940 , 32
Depreciation 34
Dividends paid after close of taxable year 36
Dividends paid credit 36
Facsimile 349-352
Foreign 32, 316 (note 39a)
General explanations 32-34
Indebtedness, amounts to retire 36
Requirements for filing 32, 312 (notes 2f, g(2))
Subchapter A net income 32-34, 36
Classes 35
Summary 32
Surtax rates 32, 316 (note 39)
Tabulations 32, 35-36
Undistributed subchapter A net income 32, 34,36
Personal service 54-55, 69, 83, 97, 124-125, 198-199, 269
Personal service corporations 312 (note 2e)
Petroleum and coal products, manufacturing 50-51,
63, 77, 91, 110-111, 164-165, S5S, 279, 298, (note 57)
Petroleum (crude), natural gas, and natural gasoline production (#9) 46-47
Petroleum (crude), and natural gas production 46-47,
61, 75, 89, 104-105, 146-147, £51
Petroleum and natural gas, field service operations (#10) 46-47
Petroleum and other mineral oil products, manufacturing, 1 936-4 1 279,
298 (note 57)
Petroleum refining (#79) 50-51
Phonographs, communication equipment, manufacturing (#104) 50-51, 303
Photographic studios (#176) 54-55
Pipe line transportation (#135) 52-53
Planing mills (#53) 48-49
Plastic materials, manufacturing (#75) 48-49, 301
Plumbers' supplies, heating apparatus (except electrical) , manufacturing
(#94) 50-51,302
Plumbing and heating equipment, hardware, and electrical goods, whole-
sale (#153) 54-55
Porcelain products, pottery, manufacturing (#84) 50-51,301
Possessions of the United States, income from and taxes paid to 19, 20, 235
(note 25), 307-311, 312 (notes 2d, 3c, 4a), 313 (notes 6, 7, 8),
314 (notes 14c (2), 18, 23), 315 (notes 24(5), 37).
Pottery and porcelain products, manufacturing (#84) 50-51, 301
Preferred stock 10, 16, 102-141, 250-266, 274-275
Printing, commercial (#66) _ 48-49
Printing and publishing industries 48-49,
63, 77, 91, 110-111, 162-163, 26S, 278, 300
Prior year loss deduction 9,
15, 34, 60-87, 103-135, 137, 139, 235 (note 34), 250-266, 272-275,
293, 296 (note 32), 313 (note 4c).
Prior years, data for. See Historical.
Profit or loss, compiled net 9, 11, 15, 60-227, 260-266, 272-275
Profits, surplus and undivided.- 10,
16, 102-140, 236 (notes 48, 55), 260-265, 274-275, 297 (notes 48, 49;
Public utilities, total 6, 27, 52-53, 65, 79, 93, 114-115, 174-175, 266, 280
Public utility equipment, electrical, manufacturing. (Included in "Elec-
trical equipment" (#102), pp. 50-51.)
Public utility properties, lessors (#219) 58-59
Publishing and printing industries 48-49
63, 77, 91, 110-111, 162-163, 258, 278, 300
Pullman cars. (Included in "Railroad, switching, etc., companies"
(#128), pp. 52-53.)
Pulp goods and converted paper products, manufacturing (#61) 48-49, 301
Pulp, paper, and paperboard, manufacturing (#60) 48-49
Pulp, paper and products, J932-41 278
INDEX 367
Page
Quarrying, mining, total 6, 27, 46-47, 60, 74, 88, 102-103, 142-143, 250, 276
R
Radio apparatus and phonographs, manufacturing. (Included in "Com-
munication equipment" (#104), pp. 50-51.)
Radio broadcasting and television (#141) 54-55
Railroad corporations, consolidated income tax returns 14-16, 293
Railroad properties, lessors (#218) 58-59
Railroad and railway equipment, manufacturing (#120) 52-53
Railroad, switching, terminal, and passenger car service companies (#128) _ 52-53
Railway express companies (#129) 52-53
Railways, street, suburban, and interurban, including bus lines operated
in conjunction therewith (#130) 52-53
Rates of tax 3,
2J^, 25, 32, 306-311, 314 (notes 15, 16, 17, 23), 315 (notes 28, 29),
316 (notes 39, 40), 317-321.
Rayon (raw material) and allied products, manufacturing (#72) 48-49
Rayon and silk manufactures (#33) 5, 46-47, 301
Real estate:
Agents, brokers (#213) 58-59
Lessee operators of buildings (#210) 58-59
Lessors of buildings and owner operators (#209) 58-59
Lessors of real property, except buildings 58-59,
72, 86, 100, 132-133, 220-221, 263
Agricultural, forest, etc. (#216) 58-59
Mining, oil, etc. (#217) 58-59
Public utility (#219) 58-59
Railroad (#218) 58-59
Owners for improvement (#211) 58-59
Title abstract companies (#214) 58-59
Trading for own account (#212) 58-59
Real estate, including lessors of buildings. 58-59, 72, 86, 100, 132-133, 220-221, 263
Receipts :
Compiled. See Compiled receipts and compiled deductions.
Gross from operations 8, 15, 60-141, 234 (note 17), 250-265, 272-275
Not tabulated under specific captions ("Other receipts"). _-8,
15, 60-141, 235 (note 27), 250-265, 272-275, 296 (note 33)
Partially and wholly tax-exempt 8, 15, 60-141, 232,
234 (notes 18, 19, 20, 21), 250-265, 272-275, 296 (notes 20, 34).
Selected 142-227
Taxable. See Compiled receipts and compiled deductions.
Refining petroleum (#79) 50-51
Rent paid on business property 8, 15, 60-141, 250-265, 272-275
Rents received, historical 272-275, 295 (note 15)
Rents and royalties received 8,
15, 60-141, 235 (note 22), 260-265, 272-275, 295 (note 15)
Repair services:
Automotive, and garages (#182) 56-57, 69, 83, 97, 124-125, 200-201, 259
Miscellaneous, and hand trades (#183) 56-57,
69, 83, 97, 126-127, 202-203, 259
Repairs (deduction) 8,
15, 60-141, 235 (note 29), 250-265, 272-275, 296 (note 26)
Reserves for amortization, bad debts, depletion, depreciation — 236 (note 45)
Reserves, surplus 10, 16, 102-141, 250-265, 274-275, 297 (note 48)
Restaurants — Eating and drinking places (# 1 65) 54-55,
67, 81, 95, 120-121, 188-189, 257
Retail trade, total 54-55, 66, 80, 94, 118-119, 182-183, 256
Return forms (facsimiles) 324-352
Returns included 2, 23, 38, 266 (note 1)
Returns with net income and returns with no net income, segregaitd in all
tabulations except pp. 8, 272-275.
Classification 4
Revenue Acts of 1937, 1939-41, notes pertaining to 315 (notes 26, 31, 33)
Revised figures, 1925-40 295 (note 9)
Rolling mills, blast furnaces (#90) 50-51
368 INDEX
Page
Royalties, rents, received 8, 15,
60-141, 235 (note 22), 260-266, 272-275, 295 (note 15)
Royalty companies — mineral, oil, gas (#198) 56-57
Rubber footwear, manufacturing. (Included in "Other rubber products"
(#51), pp. 48-49.)
Rubber products, manufacturing. _ 48-49, 62, 76, 90, 108-109, 168-169, 26S, 278
Rubberized fabrics and clothing, manufacturing. (Included in "Other
rubber products" (#51), pp. 48-49.)
S
Sale of stocks, bonds, and other assets, 1931 272-275
Sales finance and industrial credit agencies (#191) 56-57
Sales, gross 8,
15, 60-141, 234 (note 16), 260-266, 272-275, 295 (note 12)
Sales other than capital assets, net gain or loss 8,
15, 60-141, 235 (note 24), 260-266, 272-275
Sand, stone, and gravel, quarrying (#11) 46-47
Sawmills, logging camps (#52) 48-49
Schools. (Included in "Other service" (#187), pp. 56-57, 69, 83, 97, 126-
127, 204-205, 260.)
Securities with wholly and partially tax-exempt interest (Government
obligations) 10, 16, 102-141, 236 (note 42), 260-266, 274-275
Securities, worthless 313 (par. 3)
Security and commodity-exchange brokers and dealers (#202) 56-57,
71, 85, 99, 130-131, 214-215, 261
Service-industry and household machines, manufacturing (#115) 52-53, 303
Service, total 6, 27, 54-55, 68, 82, 96, 124-125, 196-197, 269, 280
Services incidental to transportation (# 1 37) 52-53
Ship and boat building (#122) 52-53
Short-term credit agencies, except banks. 56-57, 71, 85, 99, 128-129, 210-211, 261
Silk and rayon, manufactures (#33) 5, 46-47, 301
Silver and gold, mining (#4) 46-47
Silverware, plated ware, jewelry {except costume), manufacturing (#99) — 50-51
Sirups (flavoring), manufacturing. (Included in "Other food," etc.,
(#23), pp. 46-47.)
Soap and glycerin, manufacturing (#70) 48-49
Source Book of Statistics of Income, description 40-41
Special industry machinery, manufacturing (#108) 52-53, 301, 302
Special trade contractors (#223) 58-59
Specific credit, for income tax purposes 306-310, 312 (note 3), 315 (note 25)
Specific exemption, for excess profits tax purposes 307-311, 313 (note 6)
Standard Industrial Classification, application 5
States and Territories 44-45, 234 (note 1)
Geographic distribution of returns, comparability 4, 39
Historical data, 1931-41 282-292
Statistics of Income, inception of 37
Steel, iron, and products, manufacturing 50-51,
63, 77, 91, 110-111, 166-167, 26/t, 279, 298 (note 58), 300
Steel, structural, fabricated; ornamental metal work, manufacturing
(#91) -- 50-51,302
Stock:
Capital, not designated 236 (note 47)
Capital, total 143-227, 236 (note 54)
Common and preferred, separately 10,
16, 102-141, 236 (note 47), 260-266, 274-275
Stock dividends paid 9, 15, 60-141, 233, 260-266, 270, 272-273
Stone, clay, and glass products, manufacturing 50-51,
63, 77, 91, 110-111, 164-165, 263, 279, 300
Stone, sand, and gravel, quarrying (#11) 46-47
Storage, highway freight transportation, warehousing (#133) 52-53
Structural clay products (#83) 50-51, 301
Structural steel, fabricated; ornamental metal work (#91) 50-51, 302
Subchapter A net income (personal holding companies) 32, 33
\ IftS^PS - - -- oO
Sub8idia^iesy.""^"-I^II-^^^^I--II^--""-""I"244-247,"^e^'(note 11), 293
INDEX 369
Page
Sugar manufacturing (#22) 46-47
Surplus, improper accumulation, 1913-41 316 (note 40)
Surplus reserves 10, 16, 102-141, 260-265, 274-275, 297 (note 48)
Surplus and undivided profits 10, 16,
102-140, 236 (notes 48, 55), 250-266, 274-275, 297 (notes 48, 49)
Deficit - 10, 16, 102-141, 236 (note 49), 260-266, 274-275
Less deficit 143-227, 236 (note 49)
Surtax, Form 1120 1, 3, 6, 9, 13, 15, 17,
18, 45, 47-59, 60-87, 103-135, 228-230, 234 (note 6), 260-265
Surtax, mutual investment companies 315 (note 38)
Surtax net income 3, 315 (note 38)
Surtax, personal holding companies 32
Surtax on undistributed net income — 1936-37 308
Surtax on unreasonable accumulation of profits, 1913-41 316 (note 40)
Synopsis of Federal Tax Laws, 1909-41 _ 306-321
T
Tabulations :
Excess profits tax returns, 1941 2S-30, 238-265
Income and declared value excess-profits tax returns, 1941 2,
6, 8-11, 13, 15-18, 44-233
Income and profits tax returns, 1909-41 270-293
Personal holding company returns, 1941 __ 32, 35, 36
Tax. See Declared value; Defense; Excess profits; Foreign; Income;
Normal; Surtax; Total; War-Profits, etc.
Also : Comparison with 1940 2
Tax credit for taxes paid to foreign countries or possessions of the United
States 19, 20, 34, 307-311, 314 (notes 14, 18), 315 (note 37)
Tax forms. See Forms.
Tax laws. Federal, synopsis, 1909-41 _. 306-321
Tax liability:
Comparison with collections 20
Type of 12, 228-231, 236 (notes 58, 59)
Tax limitation 313 (note 9), 314 (note 12)
Tax paid at source, not tabulated 20
Tax rates 3, 2A, 26, 32, 306-311, 314 (notes 15, 16, 17, 23),
315 (notes 28, 29), 316 (notes 39, 40), 317-321
Tax reduction, 1929 314 (note 16)
Taxes:
Back 20
Paid to foreign countries or possessions of the United States 19,
20, 34, 307-311, 314 (notes 14, 18), 315 (note 37)
Paid (Other than income and excess profits taxes) 8,
15, 60-141, 235 (note 30), 260-266, 272-275, 296 (note 27)
Uncollectible 20
Tax-exempt interest __ _ _ _ 8,
15, 60-141, 232, 234 (note 21), 250-266, 272-275, 296 (note 22)
Taxicab companies (#131) 52-53
Telegraph (wire and radio) and cable (#140) : __ 54-55
Telephone — wire and radio (#139) __ 54-55
Television, radio broadcasting (#141) 54-55
Tentative returns, excluded 2
Tentative tax, 1938 315 (note 29)
Terminal, railroad, switching, and passenger car service companies (#128). 52-53
Territories. See States and Territories.
Text tables 2, 6, 8-11, 13, 15-18, 23-30, 32, 35, 36
Textile-mill products, excepf cotton, manufacturing 46-47,
62, 76, 90, 106-107, 154-155, 262, 300
Textile-mill products, historical 277, 298 (note 56)
Textiles, dyeing and finishing, except woolen and worsted (#37) 46-47
Theaters, motion picture (#185) 56-57
Timber and lumber basic products, manufacturing 48-49,
62, 76, 90, 108-109, 158-159, 263
Historical — Forest products 278
Tin cans and other tinware, manufacturing (#92) 50-51
Tires and inner tubes, manufacturing (#50) _ 48-49
370 INDEX
Page
Tires, retail. (Included in"^"Automotive dealers: Accessories" (#167),
pp. 54-55.)
Title abstract companies (#214) 58-59
Tobacco manufactures (#30) 46-47, 61, 75, 89, 106-107, 152-153, S5S, 277
Toilet preparations, drugs, manufacturing (#71) 48-49, 301
Tools, manufacturing:
Hand tools, cutlery, and hardware (#93) 50-51,303
Machine tools. (Included in "Metal- working machinery" (#110), pp.
52-53.)
Total. See specific item or classification, except the three following:
Total assets classes 10, 11, 27, S8, 136-227, 236 (notes 45, 50), S64-S65
Total income 293 (note 3)
Total tax ..__ 2, 236 (note 56), 270
Balance sheets, returns with 9, 28, 103, 136, 143, 350, 264
Comparison with 1940 2
Industrial divisions and groups 6, 46-58, 60-87, 276-281
States and Territories 44, 282-292
Total assets classes 143-227
Trade, total 6, 27, 54-55, 65, 79, 93, 116-117, 178-179, 255, 280
Retail, total 54-55,66,80,94, 118-119, 182-183,266
Wholesale, total 54-55, 65, 79, 93, 116-117, 178-179, 256
Trading for own account (#212) 58-59
Trailers (industrial), automobiles and trucks (including bodies), and mili-
tary vehicles, manufacturing (#117) 52-53,303
Trailers (passenger), manufacturing. (Included in "Automobile acces-
} sories," etc. (#118), pp. 52-53.)
Transportation equipment, electrical (except automotive), manufacturing.
(Included in "Electrical equipment" (#102), pp. 50-51.)
Transportation equipment (except electrical and automobiles), manu-
facturing 52-53, 64,78,92, 112-113, 170-171,256
Transportation, ■ services incidental to (#137) 52-53
Transportation, total 52-53, 65, 79, 93, 114-115, 174-175, 255
Trucking. (Included in "Highway freight transportation" (#133), pp.
I 52-53.)
Trucks and automobiles (including bodies and industrial trailers) and
military vehicles, manufacturing (#117) 52-53, 303
Trucks, automobiles, retail (#166) 54-55
Trust companies, banks (#189) 56-57, 70, 84, 98, 128-129, 208-209, 261
Trusts (investment) and investment companies 56-57,
71, 85, 99, 130-131, 212-213, 234 (note 10), 261
Tubes (inner) and tires, manufacturing (#50) 48-49
Turbines, engines, manufacturing (#111) 52-53
Type of tax liability 12, 228-231, 236 (notes 58, 59)
U
Uncollectible taxes _•_- 20
Undistributed adjusted net income (personal holding companies), 1934-37. 316
(note 39a)
Undistributed net income, 1936-37 308, 314 (note 24)
Undistributed net income (unreasonable accumulation of profits), 1913-41 _ 316
(note 40)
Undivided profits, surplus 10,
16, 102-140, 236 (notes 48, 55), 260-266, 274-275, 297 (notes 48,49)
Undistributed subchapter A net income (personal holding companies),
1939-41 34, 316 (note 39a)
Undistributed Title lA net income (personal holding companies), 1938 — 316
(note 39a)
Utilities, public, total 6, 27, 52-55, 65, 79, 93, 114-115, 174-175, 265, 280
Variety stores (limited price), retail (#158) .--_-. 54-55
Varnishes, colors, and paints, manufacturing (#69) _ 48-49, 301
Vehicles (military), automobiles and trucks (including bodies and indus-
trial trailers), manufacturing (#117) : ..- 52-53, 303
INDEX 371
W
Page
Wallboard, concrete and gypsum products, manufacturing (#87) 50-51
Warehousing and storage, (Included in "Highway freight transporta-
tion" (#133), pp. 52-53.)
War-profits and excess-profits taxes, 1917-41.. _ 270, 276-292, 294 (note 6), 306
Watches, clocks, manufacturing (#98) 50-51
Water, public utility (#145) 54r-55
Water transportation (#136) 52-53
Wholesale trade 54-55, 65, 79, 93, 116-117, 178-179, SS6
Wholly tax-exempt interest 8,
15, 60-141, 232, 234 (note 21), 260-266, 272-275, 296 (note 22)
Wine manufacturing (#27) 46-47
Women's clothing, manufacturing (#41) 48-49
Wooden containers, manufacturing (#56) 48-49
Woolen^andj worsted manufacturers, including dyeing and finishing (#32) _ 46-47
Y
Years,^returns'segregated by. See Historical.
Z
Zinc'and^lead, 'mining (#3) _ 46-47
o