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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 


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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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STATISTICS   OF    INCOME    FOR    1941,    PART    2 


103 


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104 


STATISTICS    OF   INCOME   FOR    1941,    PART    2 


r-i  c^M-Tio-^r^aociO      w 


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STATISTICS   OF   INCOME    FOR    1941,    PART    2 


105 


N  CO   Tf  lO   ec  t^  CO  OS  0 1— '  (N  re -^ 

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106 


STATISTICS    OF    INCOME   FOR    1941,    PART    2 


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STATISTICS    OF    INCOME    FOR    1941,    PART    2 


107 


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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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STATISTICS   OF    INCOME   FOR    1941,    PART    2 


CS  CS    <M  (M    (N  C^  (M  C^  C^  CO  CO  CO  CO 


CO  h- 00  Oi  O  <— I  N  CO  ■^  lO  CD  r— 00  OS  O   i— '   C^ICO^;?*   lO  CO  h- 00   Oi 


COCOCOCO'^'^'*-^Tji-<j<Tf«'<3*-^Tj^iO 


111 


lOio       iOLr:>ioiO       «o       CO       cocO 


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— 1  o  lo -^  ai  CD  ■^  00  o  o 


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112 


STATISTICS    OF   INCOME   FOR    1941,    PART    2 


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STATISTICS   OF    INCOME    FOR    1941,    PART    2 


ll3 


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114 


STATISTICS    OF   INCOME   FOR    1941,    PART    2 


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i-(  ,-H  C^  ,-.  t^        CO 


O         Oi  (N -— I  O  iC  r-H  r^  CO 
O  t^l---— 'CncOCO-irt^'O 

CO         CO  C^  O  t^O  OCO  CO 


^  lO  lO  'O  W  GO  CC'  Oi 

c^co-— <co»o»oooco 

1-1  CO  CO  ^  lO        CM  CO 


CO  rM  ,-(  i-H 


.-H  r^oiooicooooo.— I 

CO  Or-COOOCDGO(M.-« 

r*  lO  GO --i  a:  CM  CO  lO  00 

i-T  cD-rt^C0C^r-^03"o"cD 

O  Tt*COCOCOCOGO(MCD 

GO  1— I  C5  (N  t^  GO  CO  (N  CD 


lO-^iOCOtN^t-C^I 

.— I— iCOiQCJi-^I^Oa 

coc^'^co(M-^r-o 

-*' CO  od  »0  CO  CO  to  00 

r^diO'^^GOi^^^ 

i-H  CO  CO  »0  00    CO  lO 
CO'i-T    rH        r-T 


C0050C005GOCD^ 
i— 'OCOOOC5<MCO-*+< 

Nr-HlOCOt^CM-^Tjl 

of  u:?  CO  o"  co"  i-T  'o"  "^*' 

"^  00  CO  T-H  >C  00  C^l  CO 
COOOC^'-H-'fCOCOl-^ 

Oi^CO  CO  CO         t^ 


lOCOt^OOOOStM'-H 
TfiC^it^^CSOOCO 

coa3Cr:C-lcor-coco 


lO  UO  iM  t^  .-t        1-^  lO 


M  r-l 


t-        rfO0>-»'— i^OSOlCO 
to  1— I  Ol  *-<  CO  »0  (M  GO -^ 

OJ         ■rt<O'-iiC:OI--00'-i 


CT;C^OicO<NiO(MiO 


C^  <N  t^  Ci  to  CO  CO  C^  "^ 

CO  CO  GO  CO  t^  00  C35 '-I  CO 

CO  '^l^C<ICOl^'-<'*0 

O  CDCOiOl--rcO'-rCM'"^ 
i-H  T-H  (N  .-tW 


N  •rj<  oj  r- o  lo  o  .-H -"^ 

T-H  co-^-^'— 'to.— 'tOOi 

05  00"^  ^  (N  ^  O  00 --< 

-^*"  CD  CO  CD  OO"  CO  (N  C^'ci' 

O  to -^  CO  CO  Tt<  t^  CO  »-i 


/^ 


t3^ 


O  C   i^ 


t>»  ce  ffi 
c«  ?  fc 


CO""— 'aj    ^    -Sa  — 


;/;gc«k2;i-H7_cac3dDa 
Cog       *p.nrcr 


.-t      CS  CO -Tt*  iO  to  r^  00  0>  O    1-t      C^    CO -^  lO  to  (^  00  OS  Q   ^^ 


STATISTICS    OF   INCOME    FOR    1941,    PART    2 


115 


C^CO        -^  U5   «D  b- CO  OS  O  .-(  Ol  cc -*   »o 

CS  CM   WW   W  (M  IM  (N  CO  CO  CO  CC  CO    CO 


<0  t^  00  Oi  O  '^  <N 


C0C0C0C0'*-^Tt*'<*^-:t"^-^'*Tj<Ti4»O 


*  O  CD  r^  CO  OS  O        1-4        NCO-*         lOcOt^OO 


lO  lo  lo      lo  lo  *c  to      W3      CO      coco 


COCOb-'^iOCOcOOXN^W 

CO  CO  ■rt' r- t^ -rj*  o  oo      c^ 

CO  b- 00  O  t^  CM  CO -^         *0 


r-lrH  CO 


OSOi 


QO  to         i-H  T}< 


CO-— I— 'GO'OtOfM'rt^ 
GO  O  CO  l"^         OS 


co^o(NTj<-<fooeooor^'<<*03co-^i>- 

lO  OiW  CD -^  W -^  OO  »0  lO  CO  Tt*  CD 

■^  O  CO  CO  »0  O  Gi  CO  O  O  T-t  00  CO 


COt^C5-HT-iiOI>->0.-(0 


COr-l  CO 


»0  Oi        C:  CO 


C^cDO^O-rf— (iOi— (OS 

1-H  CD  o  L':i  -^  w      CO 

r-H  C-l  Oi  iC  -^  O         CD 
■^"CO  T-Tr-T         o 


tOOOOlOWC^COCOOOW'-lCMOO 

OOI>-0'^'-'05CD<NCD(MCOCD.-IOO 


CDCOO-^O-^b-CD 


t^r-t  ■*  -"^ 


I— I  O  t~- b- !>•  W  r-- CD         w 


O"^    t^W    CM  O  OS  00"^  00  CO  W  Ol 
lO  OS    lO  CO    O  CO  CO  rH  CM  .— I  to  CD  Oi 

coco      .-ICO      t-H  r^  o  1-H  io '* -^  i>- .-I 


iOi-HCMOO'^'Ot^^T-.cOcDOi-HOiCO 


OOCO  CD  t^  Oi  c 


SOSCOCOCOC'T'OOOi 


£--t^a5-^"^coo*Oi— it-^io-^o-^oo 


'■^  ^  CM  CD'* 


COCMt-HCOCSOOtOcOi— tCMCOt-^T-HiOCM 


CM  CM  coco 

t^  r-H  r- 

00  CO  I 


t^  r-H  CO  T— * 


CO         '<**'* 


,..  CD'^Cl'— 'COi— ''-t'— lOS 

»OcD        C^lcD        CM<McDCOC<lt^CM'<*<0 


CD  t'- 

.--"oo 


T-H  .-H  CO  O  CO  ^J'  CD 


CDOt— t— t^t005— ^r-COOO-^tOO'— t 
i0  03COi-H:DOCMC003jCCCMOicDCD 
CM  Oi  CO  .-I  O '-I  CM  r--         OOOOCMiM'* 


lO  lO    1-1  CM 


'^  -<**  C:  CO  00  CO  00  GO    CM  .-I    t-h  CO  CD 
i-H  ^  i-t  00      CD  O    00      CM  ^  00 


-^"1 


CM  O  CD^O  C^  CM  CM  O  O  »-t  00  UO  05 

r^  CD  oc  CD  '^  o  »o  OS  lo  r-- -^  o  •* 

CMCl  C^C^I  COCM'-HC'»'~iTj^cOt^I>- 

lot-^           co~  i-rcM".-^ioc<rio  T-Tco 


C0r^C0-<i*^00'-iOCD05»OC0»0CMCD 

b-iocMcor^iOb-'*'***^HCO':OT-«cD03 

'tfTt<'^'-<01O0lcD00C00iCMC0CMC0 

o  »o'  co'  -H  CO  CO  00  oT  ■^'  o  c-f  cT  w  cx5"  i-T 

1— ICO-— 'CDCMCM-^OJ         ,_,,— ,,-tiO         Tt^ 


CM  -<*<CO  T-H 

r^oo-'r  f- 

:D  '^  O  t^ 

o'oo-T-T"'*^' 

t-<  ^        CD 


3  t-CX>CMC0CM         CO         CM 
woo        CD  CM        --        — 


"^00'— «t~^'— 'tOiOi-H-rt^cOCM-^b-CMtO 
OlCM-^OOU^COr-QO  CM  io»o— ■.— t 
OOCOCOiOCMUD-rt^OO         05  lOOO 


»0*0        00  03 


Jb-GOC^COCMOOC^-* 

CDCOOCOOCO^-"* 
CD  CO         CO  ^  '^  CD 


t-^OOCDCMCOoOOi-HC^CO-^OiOOOiCi 

ocD-— 'coxioocor-iOoocococior^ 

t^COCMiOOOOOtOCMiO-— it-^COOlCO 

OO  ^  t^  CC  t-^  i-T  CO'  CO*"   o  c:> 

lO    C^  i-H    1-H  OS 


OS  CM  CM  CO 


--<      CM 


b-CM 

CO  CO 

co'co' 


T-iOlC0»O'^CMiOI>- 
00  »0   CM  00  t>  CO 


CMiOiOCM'*COfOOS'<*<t^I>.CSO'— 'CO 
r^  Tt<  CM  CO  ^  O  O^    I>-    i-HCO^OCM 

'<*^  CO  00  *J^  "^  t^  ;o  CD   CO    -^  ^  OS 


CO  00   t^^    l>- CM  lO  CO  t-- b- O  1— '  r-i 
coos   coo   i-H  OS  CO  CO  r^  O  O  "*  GO 

•^   CO  I-t  1— (  I—  r-H  CO  O   OS  lO 


OOCMCOCOOO-^  XO-^OOtOb-COOb- 

co  r^  o  ^  OS  to  CO  CO  .— '  CO   o-^c^oo 

X  CO  I-- i— '  >— '  CO  I— I  .— I  OS  00    to  !>.  OS  CD 


t-  to  X5    CD  "*  i— t  00 


COtOOOO^OSTj<CO 


O  i-H   '^ 


CO  ^^CO    IrftOSi— (C 


-   O  c« 
^  U  o 

^    O   C, 

U  o  ° 
a3T3  "^ 


..  tn  tn  S>  ^ 

■g  o  c  « 


t-  .Si's  -ti  c .-  r."«  "O  " 


c  a 

6jC  O   I 

o  o  I 


O  tfl 


C  Jfi  C 

—  i^  o 
"S  ^  +^ 

o      "O 


B     a^ 


a>  "w  ^"S  'H^  'Xj  T5  C  m  ^ 


o  ® 


■  o 

^      ft 


S3  X  u. 
o  »  n       o  g  ai  x 


■^tO         cDh-OOOSC— 'C^CO-^ 
CM  CM         C^  CM  CM  CM  CO  CO  CO  CO  CO 


CD  r^OOOSO^  CM  CO  •*  W3CD  I^OOOS  O         w 
CO  CO  CO  CO  ■**< -^  "^  "^ -^ -^  "*"*"*•<*'  "O         «3 


CMCO-^         tOCCt-OO        OS         O         1-iCM 

lototo      totototo      to      CO      coco 


116 


STATISTICS    OF   INCOME   FOR    1941,    PART    2 


1-1  N  CC  ■•^  »0  CO  t^  00  05  O         i-H 


O        i-H  <N        «  Tt<  >o  SO  t~- OO  0>  Q        "-H 


.E2   03 


^2 


^2 


^.a 


^2 


^2 


Tt*  lO  CM  ^  ^ -^  r-i  CO 


'<4*t"-OiOoOQOOiOr^ 
lO  <:0~  t-T  Tt"*"  TjT  CO  C<r  O  ^ 


OOi-H  ^.-t  I-H 


(N  (M  rH 


I>-CiOOOC^O»OOit^ 
CO':D^-H<X^CO'— iGOOiiO 
kOC^OiOOOGOOf-'— ' 


t^  to  CO         ?C '-H  CO --H  t*i 


co.-ioio(N(Nootr;oo 

COO^OOt—'Ot-OliO 


oot^co(Nuo«:;oot 


i-iCO  .-1 


; ,— I  CO  CD  (N       t-i 


CO-^-^t^COCOi-Hi— (O 

Ol  O  — t   C^   TtH   Tf   I--  ^^  O 

oT  oT  to "  CO  x5"  lo' t^  o" -^ 

rji  t^  C<1         ^H  (M  Tt*  1-1  CO 


t-OOOOiOi— lOcOiO 

ior~-»oh-coioait^co 


iotoc3:it^t--eoQCooo 

COiO-rrOCOfM.— ICDCO 
OOOOt^i-HOiC^^'— (1— t 


c^  c^  ^ 


^co-rt^t-cooo-^oo 

lOT-Ht'-'-^CO'OOfMOO 
lOCOiOCDCSOKNt^iO 


1— "COCOt^OiOi:Ot--(M 
■--ifM-f*"         OGOI^OCt"-. 


C<IO000SC^01'-HC<IO 
CDCD(N»oasOiOCO^ 
.— iCOiOGOO^OtOOSCO 

00  o'^'ai"  i--'~<NcC  '^  co" 

ocooicoc*4uooaoto 

GCOC0(MC005f-il-,'<t* 


COu^Olr-tl>-oOOiCO 


00        CI  O  ^  !:C  CD  Oi  00  C<» 


lOt^CDt-'^OO'-'O 

c^ooi'-'u:;cO'--'oo 
r^-^-^jHocDco-^co 

irT  r-T  --H  ^"^  -^"  urf  -^  oo" 

CO-— 'l^OSiOi— ICDCO 
OOtOTj^COONcD'-H 


Ci  I-H  CT)  (N 'Tt*  (M  CO  (M  lO 

lO  CI'^OOC^OC'JCOO 

<N  i>  CO '^  ■— I  O  Tt"  .-H  t>. 

lO"  Tt<*"l>rc4"-^'<*fCSfcD  t-^ 
CS  (N  r-t 


W  0:DcOiOOcO(NC^ 

I-H  C^  CO  OOO  (M  00  O  ^ 

CO  1-H  O  CD  »0  Oi '^  i-H  CS 

■^*"  od"^"ci"aro  00  CO  I-H 

•^  lO  rt^  CO  CO  CD  T-H  LC  C^ 


CO  O  1— '  CM  O  CD  lO  <M '^ 

00  00  t- CO -^  .-H  iC '^  »o 

00  O  I-H  "^  (N  t^  C^  O  O 

co~  "^""^"Tf  o  o^cs'tocT 

!>.  lO  05  ■^ -^ -^  <— '  t^  CO 


CO  lOCOIMOJ-^-'t^COCO 

O  Tt^  ■*  00  <N  t^  (M  T-H  CO 

O  00  "^  I— '  »0  to  t-H  »0  CO 

CO  CO  I-H  .-Tco'tc  ■^'t-^aT 

1— t  OICC'— iCO'— tCOi-HtO 

O  00  ^  »0 -^  C^  O)  00  1-H 


»ocoasaiO"^'-Ha) 

Oi— 'COOifMOOit^ 

CO  CO  lo" t^ csT o" ai"  lo 

OOOr-tOiMrt^tOfN 
rH  CO  1-H  rHt-         (MtP 


r-H  CO(MOOcDOOSt-HOO 

(M         OOTf^OOCO— tOOOcO 
lO         iO  !>.  CD  00  t^  CO  CS  t^ 


c^      lo '^  CD  r^  1— t  CO  to  CO 

CO    GO  rH  rj<  rH  to  OS  00  to 
1-H    to  Tt«  CO  1-H  to  lO  O  Tp 


r-trHi-trH  lO 


o  o 


t-^OO'-HCOOCOCOOcD 

csoor^ococot--'— 'Oi 

'-HCOair-ICDOO--HlOt^ 

O  cTi-H  C4"  CO  tO*"co'  C^'  lO 
,-1  CO  1-H  Tt^COTt^rHCO 


a>      OS  t^  r^  o  CO  CD  t^  Tt< 

Tfi    <C  C^  Oi '— *  OS  to  Oi  00 
03    CO  Oi -^  "^  i-H  to  O  CD 

<>f     o  co"  o"  im'  oo"  to'  co"  to 

to         lO  CO  Tl<  t- (M  1-H  CD  CO 
CO  C«  .-t 


1° 


u^tOrHO'-'iMOirt^iO 
OOtO-^tOCOtOcD-fCD 

T-Hr-.o50s»ocDOC*^os 

l^  C<r  oT  CD  r-T  o"  00  O  cO" 
t^Oii-H-DJi-HOOI^-Ot^ 
to  tP  CO         to  (>)  05  C^  to 


t>-  1-^  lO  to  t^  t^  to  O  00 

r^  tp  r^  to  o  t^ --H  t^ -X3 

00  05  rf  CD  to  t- ■*  CO  00 

oT  h-TcD  00 --h'co  t^T-Too 

lO  O0t--CDC^'5COCDCOCO 

0^  rH  c- 1^  M  00  c^  r>. 


a  ^  ?  w 


zi       So; 


,      '  I   O      .  I 

'  I  M     I  I 

'S  a  I'd    I  ; 

03  0  '.tJ  .2 


3^^ 


o^55 


XI  o 


..a   -  c3  53^ 
*-.  o  fl        x: 

2<jpq      o 

03 


«  CO  p  g 


rH  M  CO  -a*  "O  <D  t^  00  CTl  O  rH 


CO  ■<J<  "O  to  t^  00  OS  O         rH 


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 


CD  r- 00  OS  o  •— '  CI  CO  Tt<  to  CO  t^  CO  OS  o      i-*      oi  co -^ 

CO  CO  CO  CO  ■^ -^  -^  ^ -^  ■^  ■^ -^  ■^ -^  to         to         lO  to  to 


5CCI^-00        OS         O         -"C^ 
3  *0  to  to         to        CO         CO  CD 


1,  319,  815 
50,  622 

3 
9 

22 

13 

1,380 

2,650 

234 

652 

421 

2,269 

8,652 

CO 

1,  165,  538 

40,  218 

26,  835 

8,249 

1,847 

7,  585 

5,358 

8,970 

57 

6,360 

160 

3 

4,  563 

1,057 

162,  666 

CO      ms>     • 

CO         C4  IO      ■ 

of      cm"  of    '• 

38  52,  725 

5,477 
3 

23,  911,  391 
269, 131 

184 
611 

48 

668 

20,  822 

19,814 

2,120 

2.909 

22,  887 

6,574 

124.  530 

i 

20,  662,  856 

149, 844 

369,  516 

80,  025 

23, 180 

56,  910 

47,  333 

134,  846 

4,309 

63,  389 

455 

376 

12,  571 

2,881 

1, 903,  603 

CO 

§ 

to 

CM 

869,  595 

868, 879 

19,  240 

152,  740 

38,  226 

9,051 

152, 129 

ol 

-^ 

cm" 

CO 

517,  450 

190,  758 
14, 028 

o<N             eo           IcJt^COM  OOIM  oog 
OOM        ^_,                  1         C<>C<5         ""                 -' 

[--■■(>»■■      5^              1                                    CO 

^CO        ^^                  1 

154, 188 

110,918 

15,  987 

7,201 

1,504 

113 

892 

400 

786 

8 

581 

27 

402" 

105 

18,  268 

CJ> 

Tfl   CO         1 

OO     1 

CQ-CO"     ' 

O                 t 

co"             1 

850, 153 
293,  473 

10 
29 

4 

125 

5,879 

1,  986 

253 

224 

7,218 

133 

15,041 

1,  174,  527 

785,  449 

53,  878 

46,  757 

9,512 

1,170 

4,932 

4,173 

8,  630 

518 

3,  637 

13 

31 

3,670 

618 

174,  810 

o 

76,  729 

76,  601 

1,877 

11,703 

3,057 

371 

15,  557 

00 

o" 

46, 042 

20,  841 
278 

1,  437,  636 
82,  993 

3 
12 

22 

15 

1,677 

2,996 

296 

710 

473 

2,277 

11,818 

1,  540,  929 

1,  276,  457 

56,  205 

34, 036 

9,753 

1,960 

8,477 

5,758 

9,756 

65 

6,941 

187 

3 

4,965 

1,162 

180,  934 

OO 

CO 

1 

lO  lO      '• 

38  55,  729 

5,565 
3 

24,761,544 
562,  604 

194 
641 

52 

793 

26,  701  • 

21,800 

2,372 

3,133 

30, 104 

6,707 

139,  571 

o" 

21, 448,  305 

203,  722 

416,  272 

89,  537 

24,  349 

•61,842 

51,505 

143, 476 

4,826 

67,  027 

468 

408 

16,  241 

3,499 

2,  078,  413 

o 

■oot- 

CM  00— 1 

co"io"-r 

164,  443 

41,283 

9,421 

167,  685 

i 

cm" 

00 

563, 492 

211,  599 
14,  306 

3,  816,  386 
171,  826 

32 

67 

26 

82 

4,097 

12,  529 

743 

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 

78 

9,906 

4,103 

588,  644 

i 

oo" 
CD 

ooo     '• 

CO  CO        1 

^  o    1 

!    1    !    1 
!    i    i    i 

I         O        00-H 

CO       00  -o 

50,820,719 
868, 488 

299 

1,688 

166 

1,675 

76,  087 

99.  581 

5,559 

7, 676 

55, 645 

31,  203 

497, 053 

00 
CO 

40,  669,  628 

352, 120 

925,  691 

632,  748 

108,  895 

162,  862 

127,8.50 

472,  375 

13,451 

267,  627 

983 

1,299 

37,  456 

8,120 

6, 492,  330 

•o 

CO- 
CM 

o" 

lO   UO  TJH 

Oco  CM 
TT  to  00 

CM-o'-T 

CJlOiiO 
cm' CM 

388,915 

104,  626 

14,865 

344,614 

o 

o 

s 

00 

1,  339,  385 

567,  904 
23,  714 

uim      I005      cot^  loooo  oooo 

t^rt                                     CO  00              CO        rf 

§ 

co' 

1,905 

78,  862 

1,481 

4,594 

281 

366 

18,  861 

■  10, 619 

2 

16,  034 

1,005 

33 

5,  466 

7,664 

21,  824 

00 

oo" 

CO 

Oi  CM       . 

too      1 

Tt*         CD      t 

53,  633 
3,891,011 

119 

858 

234 

403 

25,  295 

25,  657 

2,242 

5.998 

47, 142 

1,004 

15,  609 

i 
i 

43,  235 

1,  575,  635 

22,  136 

36,  024 

2,933 

9,400 

326,  016 

400,  712 

2,597 

427,  526 

10,  396 

1,827 

9,  649 

1,929 

354, 936 

CM 

t--o  -^ 

■OCM  CO 
CM  CO  CM 

TPCO"od 

00  00 

178,417 

51,  892 

76 

48,  703 

oT 
cq 

565, 170 

522,  361 
1,619 

ia.£?  ;d 


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118 


STATISTICS    OF   INCOME   FOR    1941,    PART    2 


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STATISTICS    OF    INCOME    FOR    1941,    PART    2 


119 


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120 


STATISTICS    OF   INCOME   FOR    1941,    PART   2 


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STATISTICS   OF    INCOME    FOR    1941,    PART    2 


121 


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122 


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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STATISTICS   OF   INCOME    FOR    1941,    PART    2 


125 


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126 


STATISTICS    OF   INCOME   FOR    1941,    PART    2 


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STATISTICS   OF    INCOME    FOR    1941,    PART    2 


127 


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128 


STATISTICS    OF   INCOME   FOR    1941,    PART    2 


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STATISTICS   OF   INCOME    FOR    1941,    PART    2 


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130 


STATISTICS    OF   INCOME   FOR    1941,    PART    2 


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STATISTICS   OF    INCOME   FOR    1941,    PART    2 


131 


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STATISTICS   OF    INCOME   FOR    1941,    PART    2 


133 


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134 


STATISTICS   OF   INCOME   FOR    19'41,    PART    2 


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CC  ■*  "O  to  1^  00  o>  o       ^ 


STATISTICS   OF    INCOME    FOR    1941,    PART    2 


135 


N  CO        -ft"  lO        O  r*  00  OiO  ^  (N  CO -^ 


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05  00  lO  00  O  1  .  - 
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no      ^^ 


cs  r-  00 1^  -^  o 


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i>- o  »o  r^  <-i  o  o  00      coco      OS  Tfi  o 
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Tf^  t^  rH  1-H 


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136 


STATISTICS    OF   INCOME   FOR    1941,    PART   2 


5-  -5?,  t 


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STATISTICS   OF   INCOME    FOR    1941,    PART    2 


137 


C«CO         -^  *0  to  t- 00  C5S         Oi-tM 


C<  N        CllNOlC^tNC*         COCOCO         CO  CC  M  CO  CO  CO  C 


^  iC  cCt^  00  0:0  ^  C^  CO  tJ*  lO  CD  r*         00        Ol 


3  lO        iC  »0  O  lO         lO        *0 


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138 


STATISTICS    OF   INCOME   FOR    1941,    PART    2 


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STATISTICS   OF    INCOME    FOR    1941,    PART    2 


139 


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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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J  »0  O  ^  ^  OS  00  CO  ' 


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OCOOO»OCOOiCD-- •COCOCOCOcD'Or^-HOaiC-TfCO'— 'OOiOCOOOOOiOJCOCOTH-Tf 

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OOOOOOC?05C0»O'^(OO00»CC0cDrt-C0t^0000r0^Oi'— <r^0^000ir^0»O 


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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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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 


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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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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