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STATISTICS
OF INCOME
1974
CORPORATION
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Internal Revenue Service
DEPOSITORY 56 Publication 16(11 -78)
OCCIDENIL COLLEGE
^ JAN
/• 1979
LIB.
.;ry /
Publication 16 (11-78)
Slal: . ■ , if/iTi.s aiF' for
sale by the Superiniendc:
U.S. Government Printing _ ..,
Washington. D.C. 20402
Stock No,
-
-
Libi,:
Suggested Citation
Internal Revenue Service
Statistics of Income — 1974.
Corporation Income Tax Returns
U S Government Printing Office,
W.ishington. D.C. 1978
Other Recent Publications for Sale
Business Income Tax Returns. 1975 (358
pp.. $5.50)
Business Income Tax Returns. 1976.
Preliminary
Corporation Income Tax Returns. 1973
(243 pp.. S4,25)
Corporation Income Tax Returns, 1975.
Preliminary (23 pp.. $1.20)
Estate Tax Returns. 1972 (56 pp.. $1,60)
Fiduciary Income Tax Returns, 1974 (98
PP)
Foreign Income and Taxes Reported on
Corporation Income Tax Returns. 1964.
1965. and 1966 (380 pp.. $4.45)
Individual Income Tax Returns. 1975 (237
pp.. $4.50)
Individual Income Tax Returns. 1976.
Preliminary (35 pp.. $1,40)
Personal Wealth Estimated from Estate
T;i> " ■ 1972 (63 pp.. $1.75)
Sma" -1 from Individual Income'
Tax H,:;uins. 1974 (447 pp., $6,00)
Publications in Preparation
Business Income Tax Returns. 1976
Corporation Income Tax Returns. 1975
Corporation Income Tax Returns, 1976.
Preliminary
Individual Income Tax Returns, i
International Income and Taxes
International Sales ' n Returns,
1972-1974
International Income and Taxes. Foreign
Tax Credit on Corporation Returns,
1968-1972
International Income and Taxes. U.S.
Corporations and Ttieir Controlled
Foreign r--"'-'->''"ns. 1968 and 1972
Private Foi xcmpt from Income
Tax, 1974
Sales of Capital Assets Reported on
Individual Income Tax Returns, 1973
Small Area Data from Individual Income
Tax Returns, 1976
STATISTICS
OF INCOME
1974
CORPORATION
Department of the Treasury
Internal Revenue Service
Jerome Kurtz,
Commissioner
William E. Williams,
Deputy Commissioner
Anila F. Alpern,
Assistant Commissioner (Planning and
Research)
Statistics Division
Vito Natrelia,
Director
Howie Wilson,
Assistant Director
Bennett R. Moss,
Chief. Planning and Review Staff
Robert A. Wilson,
Chief. Statistics of Income Branch
John P. Hiniker,
Chief. Projections and Special Studies
Branch
Fred Frishman,
Chief. Mathematical Statistics Branch
Thomas M. Durkin,
Chief, Operations Branch
This report was prepared in the Statistics of Income
Branch by the Corporation Statistics Section
under the direction of Joei R, Slubbs,
The procedures lor sampling, processing and
reviewing the data were developed t]y other
branches o) the Statistics Division The returns
were sampled at the ten Service Centers located at
Covir-gton. Kentuctty, Philadelphia. Pennsylvania;
Kansas City, Missouri, Andover, Massachusetts.
Holtsville. New Yorl(. Chamblee. Georgia; Memphis
Tennessee Austin, Texas; Fresno, CalHornia; and
Ogden, Utah
Statistical abstracting of the data was done at the
Service Centers and at the Data Center at Detroit,
Michigan The Data Center designed and conducted
the computer processing
BOSTON PUBLIC LIBRARY
GOVERNMENT eOCUM€NTS WPARTMENl
RFCEIVKD
MAY 1 1 2000
00 {
For solo by the Superintendent of Documents. U.S. Government Printing OtTice, Washington, D.C. 20402
COMMISSIONER OF INTERNAL REVENUE
Washington, DC 20224
September 1, 1978
The Honorable W. Michael Blumenthal
Secretary of the Treasury
Washington, DC 20220
Dear Mr. Secretary:
As required by section 6l08 of the Internal Revenue Code, we
have prepared for publication the complete report. Statistics of
Income — 1974, Corporation Income Tax Returns. The data in this
report are estimates derived from a sample of unaudited corporation
income tax returns selected from the nearly 2 million corporation
returns with accounting periods ended July 1974 through June 1975.
The report presents information on receipts, deductions, net
income, income tax liability, tax credits, and distributions to
stockholders. Statistics are also provided on the corporate tax
base and on the computation of income tax and additional tax for
tax preferences ("minimum tax").
Classifications used to present the data Include Industry and
size of total assets, business receipts, net income, and income tax.
Separate statistics are included for returns with net income, con-
trolled group members, Small Business Corporations electing to be
taxed through their stockholders, and Domestic International Sales
Corporations (DISC's). Data are also provided for foreign-owned U.S.
corporations as well as on foreign corporations with U.S. business
operations.
Additional information about DISC'S as well as on the foreign tax
credit and Controlled Foreign Corporations reported on the returns of
the largest U.S. corporations will be published separately.
With kind regards.
Sincerely,
Department of the Treasury Internal Revenue Service
m
Contents
Guide to tables,
Section 1
Corporation Income Tax Returns,
197H, 1
Return Coverage, 1
Activities Covered, 1
Time Period Covered, 1
Summary of Corporate Activity, 3
Changes in Tax Rates, 3
The "Full Absorption" Method of
Costing Inventories, 6
Section 2
Tables for 1971 , 9
Section 3
Explanation of Terms, 185
Section 1
Description of the Sample and
Limitations of the Data, 215
Section 5
Forms and Instructions, 197 '^ , 219
Section 6
Index, 273
IV
Guide to Tables
by Subject,
1974
INDUSTRY MEASUREMENT
Mino'' industry; receipts, net
income, total assets and related
items (Table 1), 11
Major industry; balance sheets and
income statements (Tables 2, 3),
20,28
Major industry and si'.e of total
assets; selected balance sheet
and income statement items
(Table 6), Uo
Major industry; beginning and end-
ing inventories (Table 8), 79
Major industry; book net income or
deficit (Table 10), 85
Major industry; tax items (Table
11), 90
Major industry; investment credit
items (Table 19), 128
Major industry and tax preference
status; tax preference items
(Table 20), 132
Major industry and type of return;
selected items from returns of
members of controlled groups
(Table 3'*), 177
Industrial division and size of
business receipts; selected bal-
ance sheet and income statement
items (Table 7), m
Industrial division and size of net
income or deficit; selected
items (Table 9), 82
Industrial division; income state-
ment and tax items of active
foreign corporations with U.S.
business operations (Table 29),
170
Selected industrial divisions;
balance sheets and income
statements of returns with 50
percent or more foreign
ownership (Table 28), 168
Industrial division and size of
total assets; work incentive
(WIN) credit items (Table 21),
156
Industrial division; selected tax,
tax preference and investment
credit items fi^om Small Business
Corporation returns (Table 25),
159
Industrial division and size of to-
tal assets; selected balance
sheet and income statement items
from Small Business Corporation
returns (Table 26), 160
Industrial division, size of total
assets and number of stock-
holders; selected items from
Small Business Corporation
returns (Table 27), 165
Selected industries; balance sheets
and income statements of Domestic
International Sales Corporation
Returns (Table 31), 172
Industrial division; balance sheets
and income statements of consoli-
dated returns (Table 33), 176
SIZE CLASSIFICATIONS
Total assets (Tables 4-6, 21, 24,
26, 27, 32), 36, 140, 156, 160,
165, 174
Business receipts (Table 7), 7>i
Net income or deficit (Table 9), 32
Income taxed at normal tax and sur-
tax rates or deficit (Table 12),
106
Tax after credits (Tables 13, li*),
111, lit
Income tax subject to estimated tax
payments (Table 15), 119
Investment credit (Table 18), 126
Total items of tax preference
(Table 22), 1A2
Total items of tax preference after
statutory exclusion and income tax
used as an offset (Table 23), 151
RETTURNS WITH NET INCOME
Major industry; balance sheets and
income statements (Table 3), 28
Size of total assets; balance
sheets and income statements
(Table 5), 38
Industrial division and size of net
income or deficit (Table 9), 82
Major industry; tax items (Table
11), 90
Size of income taxed at normal tax
and surtax rates or size of defi-
cit (Table 12), 106
Size of income tax after credits
(Table 13), 111
Size of income subject to esti-
mated tax payments (Table 15), 119
By accounting period (Table 16), 122
ACCOUNTING PERIODS
Income, special deductions, and tax
items (Table 16), 122
Income, tax, and taxpayment items
(Table 17), 124
INVENTORIES
Major industry (Table 3), 79
BOOK NET INCOME OR DEFICIT
Major industry (Table 10), 85
TAX COMPUTATION ITEMS
Major industry (Table 11), 90
Size of income taxed at normal tax
and surtax "ates or size of defi-
cit; alternative and regular tax
(Table 12), 106
Size of tax after credits (Tables
13, 14), 111, 114
By accounting period (Tables 16,
17), 122, 124
TAXPAYMENTS
Major industry (Table 11), 90
Size of income tax after credits
(Tables 13, 14), 111, 114
Size of income tax subject to esti-
mated tax payments (Table 15), 119
By accounting period (Tables 16, 17),
122, 124
INVESTMENT CREDIT ITEMS
Size of investment credit (Table
18), 126
Major industry (Table 19), 128
WORK INCENTIVE (WIN) CREDIT ITEMS
Industrial division and size of
total assets (Table 24), 156
TAX PREFERENCE ITEMS
Tax preference status and major
industry (Table 20), 132
Size of total assets (Table 21),
140
Size of total items of tax prefer-
ence (Table 22), 142
Size of total items of tax prefer-
ence after statutory exclusion
and income tax used as an offset
(Table 23), 151
SMALL BUSINESS CORPORATION RETURNS
Industrial division; selected tax,
tax preference and investment
credit items (Table 25), 159
Industrial division and size of
total assets; selected balance
sheet and income statement items
(Table 26), 160
Industrial division, size of total
assets and number of stock-
holders; selected items f"om
Small Business Corporation
returns (Table 27), 165
DOMESTIC INTERNATIONAL SALES
CORPORATION RETURNS
Balance sheets and income state-
ments as shown on Form 1120-DISC
(Table 30), 171
Selected industries; balance sheets
and income statements (Table 31 ) ,
172
FOREIGN CORPORATIONS WITH U.S.
BUSINESS OPERATIONS
Industrial division; income state-
ment and tax items (Table 29),
170
DOMESTIC CORPORATIONS OWNED BY A
FOREIGN ENTITY
Selected industrial divisions;
balance sheets and income
statements (Table 28), 168
CONSOLIDATED RETURNS
Industrial division (Table 33), 176
Size of total assets (Table 32),
174
MEMBERS OF CONTROLLED GROUPS
Major industry and type of control-
led group relationship (Table
3'i), 177
Section 1
Corporation
Income Tax
Returns,
1974
RETURN COVERAGE
This report presents statistical
estimates derived from a strati-
fied sample of unaudited income tax
and information returns filed by
corporations for the 197'* income
year, defined to cover accounting
periods ended July 1974 through
June 1975. The approximately
1,966,000 returns of active
corporations (including 333,000
Small Business Corporations elect-
ing to be taxed through their
stockholders and 5,500 Domestic
International Sales Corporations)
filed for this period provided
the basis of all financial statis-
tics presented in this report. No
data were tabulated from inactive
corporation returns, defined as
those showing no income or
deductions.
Besides returns filed by inactive
corporations, the statistics spe-
cifically exclude foreign corpora-
tions with no income effectively
connected with a U.S. trade or
business, farmers' cooperatives
exempt from income tax under
Internal Revenue Code section 521,
and nonprofit corporations
(educational, charitable, and simi-
lar organizations) exempt from
income tax under Code section 501.
Section 6012 of the Internal
Revenue Code required that all
corporations in existence at any
time during the income year file
returns regardless of whether they
had income or not. This applied
to active and inactive domestic
corporations unless they were
expressly exempt from filing, as
well as to active foreign corpora-
tions with insufficient taxes with-
held at the source to satisfy their
U.S. tax liability on income
earned in the United States.
In addition to legally defined
corporations, the Internal Revenue
Code recognized many types of
businesses as corporations, includ-
ing joint-stock companies; insur-
ance companies; and unincorporated
associations such as business
trusts, savings and loan associa-
tions, certain partnerships, mutual
savings banks, and cooperative
banks. Because these organizations
possessed characteristics typical
of the corporate form, such as
continuity of life, centralization
of management apart from ownership.
limited liability of owners, and
transferability of shares of capi-
tal ownership, they were required
to file corporation income tax
returns.
ACTIVITIES COVERED
The estimates in this report
include corporate business
activities in the United States
as reported on returns of domestic
and certain foreign corporations
as well as certain foreign activi-
ties. Thus, dividends remitted
from foreign subsidiaries of domes-
tic corporations and, to a limited
extent, undistributed earnings of
foreign subsidiaries were included.
The estimates also include data on
income earned by domestic corpora-
tions through foreign branches.
The term "domestic corporations"
refers to companies incorporated
in the United States, but does not
necessarily imply all domestic
activity. For instance, a business
may have been incorporated in the
United States, had its principal
office here, and yet conducted all
of its business abroad through
foreign branches. The effect of
foreign activity on the statistics
varies accordingly. Some indus-
tries may have higher incidences
of foreign activity than others
and foreign income is reflected
in their statistics to a greater
extent. Also, foreign activity
may occur more frequently among
corporations of a given size than
among others.
For foreign corporations (defined
as those organized abroad) engaged
in trade or business in the United
States, only income that was
considered "effectively oonnnected"
with the conduct of the trade or
business in the United States is
included in the statistics. Other
foreign corporations, organized
abroad and not engaged in trade
or business in the United States,
were liable for tax only on invest-
ment income from U.S. sources.
This income is excluded from this
report.
TIME PERIOD COVERED
The estimates in this report are
based on data from both returns
with accounting periods that coin-
cided with calendar year 1974 and
returns with accounting periods
that were for a noncalendar year.
The noncalendar years represented
in the 197t statistics ended during
the span of months July 1974
through June 1975. In the middle
of this twelve-month span was the
calendar year, ending December
1974, so that the span, in effect,
defines the income year in such a
way that the noncalendar year
accounting periods are centered at
the calendar year.
The 12 accounting periods covered
by the 1974 report are presented in
chart 1. This chart shows a span
of 23 months between the first-
included accounting period begin-
ning in August 1973 (and ending in
July 1974), and the last-included
accounting period beginning in July
1974 (and ending in June 1975).
This report, therefore, shows in-
come received or expenses incurred
in any or all of the 23 months from
August 1973 through June 1975. On
the other hand, end-of-year balance
sheet amounts such as for total
assets and inventories show the po-
sition of some corporations in
December 1974 and of others as
early as July 1974 or as late as
June 1975. (Net income (less defi-
cit) and total assets reported on
returns for each of the 12 account-
ing periods are presented in table
A.)
Corporations were required by law
to file returns for the accounting
period customarily used in keeping
their books. Less than half of the
returns were filed for the calendar
year, but these included returns of
most of the larger corporations.
Over 80 percent of total assets
and about 76 and 61 percent of net
income (less deficit) and total
receipts respectively were reported
on calendar year returns. See
table A and chart 2.
The total number of active corpo-
rations included, in addition to
returns with accounting periods
that spanned 12 months, returns
with accounting periods of shorter
duration. Such returns are refer-
red to as part-year returns and
were filed, for the most part, by
continuing corporations changing
their accounting periods, new cor-
Corporation Returns/1974
Table A.— Returns of Active Corporations: Number of Returns, Total Assets, Total Receipts, Net Income (Less Deficit), and Total
Income Tax, by Accounting Period, 1974
|AII ligufes are eslimales Dased on samples— money amounis are in ihousjnds ol dol^s.-s)
Accounting period ended'
Number
ot
returns
Total
assets
Toral
recetpls
Net
income
Hess
dericit)
Total
income
lax
0)
(2)
(31
(«l
(51
Toiai
Decembet 1974
Noncalendar vear. total
July 1974
August 1974
September 1974
October 1974
November 1974
January 1975
February 1975
March 1975
Apf'l 1975
May 1975
June 1975
1 965 89J
790 992
1 174 902
82 137
66,021
175.703
95.322
56 300
71.192
73.637
146.868
85.451
81 547
.■-ZO '114
4 016.466 940
3,223,027 469
793,439,471
47.376,773
46.623.042
133707,959
88.465.601
47,295 101
84,438 446
36,400.777
60,472.703
43,622,654
41,554,962
143.281 45:t
3 0ej 701 363
1.896 692.592
1 193,008 771
69.631.724
74.546 066
172 739,816
100.856 947
56.438.647
145 342 830
67,326,192
146,530,961
68.372.053
74 145.712
?1Sn73.8?3
•« 997 608
n 1 025 332
34 972 476
1 978.264
2104 287
5.605.866
3.604.929
2171973
4074.622
1.567.008
3.510.797
1.781.704
1 924 373
6 446 4:11
66 112.989
50.167.422
15.945.567
915.335
1.028.409
2.577.484
1.624.655
935.862
1.446.740
795.887
1.750 258
861.249
976360
3 033 328
'Includes pan-year ftlurn'
Chart 1
Number of returns and net income, by accounting periods
ij
L-L
I I I I I
Calendar year returns
_l1
I I
Accounting
periods
I I I I
I I I I I 1 I I I
JFMAMJ JASOND
1973
JFMAMJ JASOND JFMAMJ JASOND
I 1974 I 1975
Calendar year
Aug.-Julv
SeptAug.
Ocl.Sept
Nov.Oct
Dec. -Nov.
Jan. Dec.
Feb. -Jan.
Mar -Feb.
Apr. -Mar.
May-Apr
Jun.-May
Jul.-Jun.
_H2
Returns and
net income
Br
(less deficit)
•■'i^ 18.9
Percent distiibution
n3.8
■f'."'iJ^4.9
■ 2.6
•
-Returns
- ~ " V^'' 1
03.6
Net income
■ 2.8
(less deficit)
"?l3 7
fl1
■ 2.4
S"
f?,"
^^-■.■■!'"|11.2
DH4 4
■^ Incluties pait-yeai letums.
Corporation Returns/1974
Chart 2
Total receipts
by accounting
periods^
The accounting years
in this report ended
from July 1974
to June 1975 -
but most of the
receipts were
attributed to calendar
year 1974.
' Includes part-year reiurns.
Total receipts (Billions of dollars)
S3, 500
3,000
2,500
2,000
1,500
1,000
500
porations in existence less than 12
months, merging corporations, and
liquidating corporations.
The statistics in this report re-
flect, to a varying degree, any
changes in law that became effec-
tive during the accounting periods
covered. Depending on the account-
ing period used and the effective
date of the changes in law, the
changes may have been fully appli-
cable for some corporations, only
partially applicable for others,
and not applicable at all for still
others.
SUMMARY OF CORPORATt, .ACTIVITY
Summary statistics for the 1971
income year are shown in table A.
Comparisons of 1973 and 1974 data
are shown in tables B and C. Ta-
ble D compares statistics for 1974
on consolidated and nonconsoli-
dated returns. Chart 3 shows a
5-year summary of net income, tax
credits, and income tax after cred-
its, for 1970 through 1974. Table
E presents a comparison of book net
income with tax net income for se-
lected industries.
CHANGES IN TAX RATES
Under prior law, the "normal tax"
rate was 22 percent with a 26 per-
cent surtax, but with a $25,000
surtax exemption. Thus, the first
$25,000 of taxable income was taxed
at only 22 percent, while income in
excess of $25,000 was taxed at 48
percent. Expressed another way,
total taxable income was taxed at a
22 percent rate and taxable income
in excess of $25,000 i«s subject
to an additional 26 percent tax.
The Tax Reduction Act of 1975 re-
duced the normal tax rate and in-
creased the taxable income exempt
from the surtax, i.e., the amount
eligible for the surtax exemption.
The normal tax rate was graduated.
It was reduced from 22 percent to
20 percent for the first $25,000 of
taxable income, but it remained at
22 percent for taxable income in
excess of $25,000. The surtax ex-
emption was increased from $25,000
to $50,000, thereby decreasing the
taxable income subject to the com-
bined 48 percent tax rate by
$25,000. Stated differently, the
increase in the amount of taxable
income exempted from the 26 percent
surtax rate to $50,000 caused the
taxable income subject to the 48
percent rate to be limited to the
amount in excess of $50,000.
These amounts and rates initial-
ly were to be made effective for
taxable years ending in 1975, after
which they were to revert to the
amounts and rates in effect prior
to the enactment of the Tax Reduc-
tion Act. Subsequently, the Reve-
nue Adjustment Act of 1975 extended
the effective period through the
first 6 months of 1976 making the
reduced normal tax rate and the in-
creased surtax exemption also ap-
plicable to taxable years ending
during the period January through
June 1976.
Because the data presented in
this report cover accounting
periods ended July 1974 through
June 1975, they do not fully re-
flect the effects of the revised
normal tax rate and the surtax
exemption. For 1974, only corpo-
rations with noncalendar accounting
periods that ended January through
June 1975 were subject to the
changes, but since the changes were
only allowed based on that part of
their taxable years that occurred
during 1975, tax had to be prorated
between the previous and revised
rates. This was done as follows:
first, the income tax was computed
with a $25,000 surtax exemption and
second, with a $50,000 surtax ex-
emption. (The normal rate was 20
percent on $25 ,000 or less of tax-
able income and 22 percent on tax-
able income in excess of $25,000.)
Then the two resulting taxes were
prorated according to the number of
days in the taxable year before and
after December 31, 1974.
The new surtax exemption also
caused a change in the provisions
relating to certain controlled cor-
porations. Since the tax benefits
resulting from the surtax exemption
Corporation Returns/1974
Table B.— Corporation Returns: Number of Returns, Net income or Deficit, Income Tax, Tax Credits, and Distributions to Stockholders,
1973 and 1974
[All figures are eslimaies based on samples—money amounts are in Ihousands of dollars]
Increase or decrease (-)
Number o( relurns, tolal
Inactive corporations
Active corporations loial
Wilh ntl income
Without net income
Form 1120S
Form 1120 DISC
Number ol relurns wiiFi lai, loial'
With additional lax lor tai preferences'
With la« alter (orcign iai, mvesimenl anO work incentive (WIN) credits
With tax alter mvesimenl and wo'l^ incentive (WIN) credds
Total receipts
Business receipis
Interesi on Slale and local obligations
Oltier receipts
Tolal deductions
Cosi of sales and operations . ......
Other deduclions
Total receipts less loial deduciions .
Net income (less delicti)
Nel income
Deficit
Income subiect lo lax ..._
Income lax, loial '...
Normal lax. surtax and aliernadve tax
Tax tiom recomputing pnor year investment credit . ,.
Tax from recomputing pnor year work incentive (WIN) credit
Additional lai lor lax preterences
Foreign tax credit
Investment credit
WorK incentive (WIN) credit
Total income la< after foreign tax. 'nveslmenl and work incentive (WIN) credi's
Tolal income lax after investment and work incentive (WIN) credits
Disl'ibulions to siockholders e«cepl in own stock
1,980,593
75 923
1,904,670
1,203.356
701.314
313.090
4.162
878.132
6,312
751.729
753,037
2,557.688,950
2.361.361,928
5,347,093
190,959.929
2.435,043.788
1.682.492.550
752,551.238
122.645,162
120.446,898
138.324 272
17,877,374
115.544,260
52,436,603
51.969.863
133,341
259
335,140
9,619,936
3,753,016
9.031
39,056.620
48.676 555
41,829.368
2.042,9%
77.102
t. 965.894
1.207.396
758.498
333,099
5.498
686,582
4 575
803. 1 59
803 740
2,654,619 489
5 774.y3'l
229,106.940
2,941,543.997
148 157,366
145 997.808
143,982.513
66.112.989
65.566.637
179,121
446
346,785
20,752.819
4,221 364
7,795
41,130 991
61863810
49,280.658
62,403
1.179
61.224
4.040
57 184
20 019
1 336
10.450
-73
51,430
50.703
493.437 561
427 841
38.147 011
385 576 005
120,924.204
25.512.204
25,550.910
32,841952
7.291.042
28.438,253
13,674,386
13.616.774
45.780
187
11.645
11.133,663
466.368
-1.236
2074 371
13,207,25^
7.451,290
3.2
03
82
64
32 1
12
-139
68
67
208
209
BO
20 0
22 9
16 1
20 8
21 2
23 7
40 8
24 6
261
26 2
34 3
72 2
1157
12 5
-137
53
27 1
178
'Number ol returns wilh additional tan lor lax prelerences is included in total returns wilh income tax.
Table C— Returns of Active Corporations: Number of Returns, Total Assets, Total Receipts, Net Income (Less Deficit), and Total
Income Tax, by Size of Total Assets, 1973 and 1974
[All (igures ate eslimaies based on samples— money amounts are in thousands ot dollars )
Year and size ol total assets
Numlxr
ol
returns
Tolal
assets
Total
receipis
Net
income
(less
delicit)
Tolal
income
las
(l|
(21
(31
il)
(51
1973
1,904.670
60,289
1,038 746
365,206
195,118
114,235
93,567
14.604
n.675
4,962
2.752
1865
1.647
1.965.894
62.456
1.078.690
369.808
196.976
116.476
36.539
15.115
11.925
5.276
2.676
1.973
1 782
3,648,919,824
35,394 069
58,730.396
66.473,439
79.332.479
188.917,688
103,164.473
184.588.765
173.486 937
191.713,034
290 243.659
2.274.875.683
4.016 46^.940
36,349,919
59,652,116
69.760.625
62.079.477
199.232,992
106,662634
188,440.244
184.220.624
200 602.961
303.942.116
2.565.523.212
2 557 688.950
14606595
108.245382
127,246,421
142 165262
162 410 99;
330,671,669
112,998,500
126.297.274
101.640,781
106.522 581
167 242,939
1,055,620.554
3.089 701.363
21.272.795
120.469.265
132.852732
146 538,704
172,615 147
367.810,576
125 303,273
146.318788
116,532,767
123 257,887
190.555,411
1426,174018
120.445.898
■0605-.
950,989
3,195.476
3 o29 602
4.43i 257
i;.62'262
4 423 643
5 522 297
4461500
5123.856
8 524.129
69,000.834
145.997.606
216.659
463.421
3.177.689
3.804,917
4 622,284
11,568,406
4,686122
5 850 464
4.716,510
5,382,650
6,261,188
93 025 096
52,438,603
296.142
454,454
SlOO 000 under S250 000
957,640
1.310425
1. '86.4 70
4967.394
2.120 187
2.599314
2.058,540
2.210.722
3.526.503
S250.300.000 or more . . . ,■ !
1974
30.170.812
66.112.969
329.998
SI unJer SIOOOOO '. .;.
461.905
956.955
1.344.986
1.905.680
S1 000 000 under S5 000 000
5.532.610
2.530913
2.905.197
2242.522
2.514.323
SIOO.OOO.OOO (jfidef 5250,000 000
S250 000 000 or moi.'
3.BS0.443
41737 552
Corporation Returns/1974
Table 0.— Consolidated and Nonconsolidated Active Corporation Returns: Number of Returns, Total Assets, Total Receipts, Net Income
(Less Deficit), and Total Income Tax, by Size of Total Assets, 1974
|AII tiqiires die eslimales bjset] on samples— money amounls are in thousands ol cJollafSi
Type of retuff) and sue
Number
ot
returns
Tolal
Total
Net
income
Tolal
of lolal assets
assets
receipts
(less
deficit)
income
lai
(1)
\2)
0)
«l
(5)
Consolidated Relurns
Tolal
■asTB
2 415 237 420
1.654 762 650
94,198 610
45013,510
Zero assets
«3
5.309.714
83 875
59.089
SI under SIOO.OOO
1.731
84 970
361,031
-22 761
1 088
SIOO.OOO unde< S250,O00
1 946
334,926
1,596 631
-16,480
7 445
S250.000 under S500.000
3437
1,251 675
2 800 472
7 997
1 7.928
S500.000 under S1 000.000
4 969
3.592 973
8070 141
69 935
64 270
Sl.000,000 under S5.000.000
10934
25 960 97a
4e e^H 996
698.522
644 509
SS.OOO.OOO under 510.000,000
3.494
24,605,764
38 029,985
641.438
546.205
SIO.OOO.OOO under S25 000.000
2956
46,846,833
64 379.861
1,256 748
1,041 448
525.000,000 under S50.000.000
1.513
63 528.433
61030.131
1.650.803
1 053 115
S50.000.000 under SlOO.000.000
1055
75,280 534
78 043.309
2.357.632
1.443 722
5100,000,000 under 5250 000 000
968
151,097,724
134 116 502
5,187,696
2,704.260
S250.000.CK)0 or mote
1230
2.032,652 614
1.212,175.877
82.083 025
37,430 431
Nonconsolidated Returns
Toial
1,931,216
1,601,239 520
1434,938 713
51 799 198
21 099.479
Zero assets
62 013
-
15 963 081
132.984
270.909
SI under SIOO.OOO
t. 076 959
36 264,949
120 108 234
486 202
460.817
SIOO.OOO under 5250,000
367.860
59 317 190
131256 101
3 194,369
949,510
S250.000 under S500.000
195,539
68,506.950
143,738 232
3.796,920
1,327,058
5500,000 under 51 000.000
113.507
76 486.604
164.545.006
4,752,349
1,841.410
51.000,000 under 55000,000
87.605
173.272,016
318.961 580
10 669.864
4.888 101
55,000,000 under SlO,000,000
11,621
82.056.870
87 273.286
4,044,684
1,784 608
510.000,000 under 525,000,000
6 969
141.593,411
81.938.927
4 593.716
1,863,749
525.000 000 under 550.000,000
3.763
130 692 191
55 502.636
3.067.707
1.189.407
550.000.000 under 5100,000.000
1.823
125.322.447
45 214 578
3.024.816
1,070,601
SIOO.000,000 under 5250.000,000
1 OOS
162 844.393
56 438 909
3 093,492
1 146.186
S250.000OOO or riiore
'I'i:-
552.870.598
213 998 141
10,942.073
4.307 121
Charts
Returns with
net income
Corporate
net income
before tax,
and
income tax,
1970-1974
Billions of dollars
171.2
138.3
112.8
1/
96.7
Net income ^
Income tax-J;
Before credits
After credits
83.7
-^Before and after investment and
foreign tax credits and fo,' 1972-
1974, work incentive (WIN)
uredii.
.66.1
141.1
1970
1971
1972
1973
1974
Corporation Returns/1974
Table E. — Comparison of Book Net Income With Tax Net Income, by Selected Industries, 1974
(All (igures
are eslimales based on
amples— money amounis
are in ifiousands ol dollaisj
Total returns of active
corporations
Returns wilh book net
ncome or delicit sfiown
Percent by whtcti
Selected industries
Number of
returns
Ta» return
net income
(less deticitj
alter tai
NumtKr ot
returns
Tai return
net income
(less deficit)
alter tai
Booh net
income
(less
delicil)
booli net income
(less delicill
eiceeds la, return
net income Hess
(Jeticit) after ta«'
(1)
12)
(31
l«l
(51
(61
1.965.894
53,458
84 113 99a
1.805,115
4 7.638
93.865.794
211.780
24.0
1122
Agncullute lorestry, and fishing
126.116
99.792
Mining
Oil and gas extraclion
15.732
8,350
13.781.046
12.353 029
13.658
7.466
13.559.487
12.226.913
14.849035
12.489.930
9.5
22
Conslruclion
185.563
766,878
171,773
763.025
1.057.271
350
Manotaciu'inq
Petroleum (including (filegraled) and coal products
Pnmary melal induslr.es
Machinery, encepl electrical
211,563
;,039
1,636
24,879
42.361.666
13.401.237
3.887.320
3751.440
199,330
979
4,337
23.620
35.496970
10.562.393
3.292.237
3.275.672
40 967 340
10 952 287
4 419 637
3 492 749
154
37
342
66
Transpoflatton and public utilities
Transportation
Eleclnc, gas. and sanitary services
80.232
62,153
8,710
5.076990
1.594 101
1.297 906
73.854
57.106
8.013
4.710.713
1.512090
1.033.522
12.696 908
2.497.891
6 400 135
169.5
652
519 3
Wholesale and retail trade
602,423
14.653.249
561 229
13.912.689
14.526.292
5 1
Finance, insurance, and real estate
Banking
Credit agencies other Itian banks
Insurance
425 249
14,534
48597
8,343
6.095.164
1.350632
422.749
1.644,389
386.552
13.623
43.343
6.391
5 967 866
985.183
460 403
1.620 179
7704 106
6 181.007
1.714429
-322955
29 1
527 4
272 4
-1199
Services .
388,832
1,230.230
346779
1.159.386
1 718.321
48.2
Nature ol business not allocable
2,642
20 659
2302
19.493
24 :4i
26 9
allowed each member of a controlled
group for which a separate return
was filed were limited by the size
of the surtax exemption, the in-
crease in the surtax exemption
also caused the benefit to increase
from $25,000 to $50,000 for ac-
counting periods ending after
December 31, 197^. Also, in apply-
ing the revised normal tax rates,
the first $25 ,000 of taxable income
and the second $25,000 of taxable
income were each allocated among
the component members of the group
in the same manner as the surtax
exemption was allocated; i.e., the
$25 ,000 amounts were either appor-
tioned equally among qualifying
members or according to a plan
adopted for all members.
THE "FULL ABSORPTION'
COSTING INVENTORIES
METHOD OF
The rules relating to the costing
of inventories used in computing
the cost of goods .sold and, thus,
taxable income were revised by an
income tax regulation, issued Sep-
tember 19, 1973. The revised rules
required that the "full absorption"
method of inventory costing be used
by corporations which were engaged
in manufacturing or production
operations and which were not al-
ready using this method. This
change was made to simplify the tax
reporting for such corporations and
also eliminate the uncertainty and
controversy of past practices.
Under this method certain produc-
tion costs were always required to
be included when determining inven-
toriable costs while others were
not. Production costs, whether
direct or indirect, were those
that were incident to and necessary
for manufacturing or production op-
erations or processes. Direct pro-
duction costs were always included,
while indirect production costs
could be either included or exclud-
ed based on specific conditions.
Direct production costs included
those costs which were components
of either direct material or direct
labor costs. Direct material costs
included the cost of those materi-
als which became an integral part
of the specific product, as well as
those materials consumed in the
ordinary course of manufacturing.
Direct labor costs included such
costs as basic compensation, over-
time pay, vacation and holiday pay,
sick leave pay, shift differential,
payroll taxes, and payments to an
unemployment benefit plan.
In determining inventoriable
costs, indirect production costs
were either always included, not
required to be included, or includ-
ed only if they were similarly
treated on the corporation's books
of accounts and if this treatment
was both consistent with generally
acceptable accounting principles
and comparable to the corporation's
tax accounting methods. Indirect
production costs which were always
included were for repairs, main-
tenance, utilities, rent, indirect
labor (such as that provided by
supervisors, timekeepers, engi-
neers, and truckers), indirect ma-
terials and supplies (such as nuts,
bolts, rivets, washers, and cotter
pins not entering directly into a
product, as well as cleaning sup-
plies), tools and equipment not
capitalized, and costs of quality
control and inspection. Among the
indirect production costs not re-
quired to be included were expenses
associated with marketing, adver-
tising, selling or other distribu-
tion, interest, research and devel-
opment, amortization and deprecia-
tion in excess of that reported on
the corporation's books of account
and percentage depletion in excess
of cost depletion. Such indirect
production costs as taxes, depre-
ciation necessary for production,
depletion, employee benefits, of-
ficers' salaries, insurance, and
costs attributable to strikes, re-
work labor, scr^p, and spoilage
were included only if the corpora-
tion's accounting methods were com-
parable for book and tax purposes.
Otherwise, these costs were exclud-
ed from inventories.
In applying the full absorption
method of inventory costing, there
were two steps required in deter-
mining the tax treatment of indi-
rect production costs: (1) a de-
termination of the tax treatment of
each item of cost on the basis of
an objective test, i.e., whether
the item had been or could be
included in inventoriable costs on
the corporation's books of account,
and (2) a determination as to
whether, under the standards of
generally accepted accounting
principles, it was appropriate to
either include or exclude the item.
Indirect production costs under
the full absorption method had to
be allocated to goods produced dur-
ing the taxable year, whether sold
during the year or in inventory at
the close of the taxable year, de-
termined in accordance with the
corporation's method of identify-
ing goods in inventory (e.g.,
"first-in, first-out," or "last-in,
first-out"). If the indirect pro-
duction costs specified above were
allocated to goods sold during the
year, they were deducted currently
Corporation Returns/1974
and, thus, excluded from iiiventory
costs. Otherwise, they were in-
cluded as inventory costs and al-
located to the goods in ending in-
ventory. Thus, the full absorption
method causes ending inventory to
increase and the cost of goods
sold to decrease. The result Is an
increase in the amount of taxable
income.
Notwithstanding the requirement
that use of the full absorption
method was mandatory for corpora-
tions with manufacturing or produc-
tion operations, corporations not
previously using this method had to
file a request to change accounting
methods, which was subject to the
approval of the Conmissioner of
Internal Revenue, before adopting
the method. Special transitional
rules were provided if the election
was made during the first 180 days
of any taxable year beginning after
September 18, 1973, and before
September 19, 1975. (This transi-
tional period was subsequently ex-
tended to November 28, 1975.)
Under the special transitional
rules, corporations that made the
proper election could prorate any
inventoriable costing adjustment
over a period designated by the
corporation at the time of the
election, starting with the year
of the transition. The transition
period could not exceed the lesser
of 10 taxable years or the number
of years for which the prior inven-
tory costing method was used.
(Corporations which switched after
the transition period were not eli-
gible to use the transitional
rules. ) These inventoriable cost-
ing adjustments were included in
the statistics for the income or
deduction items in which they were
reported by the corporation.
Section 2
Tables
for
1974
INCOME AND FINANCIAL DATA BY
INDUSTRY OR SIZE
1 Returns of active corporations:
Number of returns, receipts,
cost of sales and operations,
net income, tax and credit
items, distributions to stock-
holders, total assets, net
worth, depreciable assets, and
depreciation deduction, by minor
industry, 11
2 Returns of active corporations:
Balance sheets and incme state-
ments, by major industry, 20
3 Returns with net income: Bal-
ance sheets and income state-
ments, by major industry, 28
H Returns of active corporations:
Balance sheets and income state-
ments, by size of total assets,
36
5 Returns with net income: Bal-
ance sheets and income state-
ments, by size of total assets,
38
6 Returns of active corporations:
Selected balance sheet, income
statement, and tax items, and
distributions to stockholders,
by major industry, by size of
total assets, 40
7 Returns of active corporations:
Selected balance sheet, income
statement, and tax items, and
distributions to stockholders,
by industrial division, by size
of business receipts, 74
8 Returns of active corporations:
Beginning and ending inven-
tories, business receipts, net
income (less deficit), total in-
come tax, and total assets, by
major industry, 79
9 Returns of active corporations:
Number of returns, total re-
ceipts, net income or deficit,
income subject to tax, income
tax, tax credits, distributions
to stockholders except in own
stock, and total assets, by in-
dustrial division, by size of
net income or deficit, 82
10 Returns of active corporations:
Book net income or deficit, pro-
vision for Federal income tax,
and selected tax return items,
by major industry, 85
INCOME SUBJECT TO TAX AND INCOME
TAX
11 Returns of active corporations:
Tax items: Number of returns by
selected types of tax, net in-
come or deficit, statutory
special deductions, income sub-
ject to tax, income tax, cred-
its, payments, and dividend
items, Small Business Corpora-
tions (Form 1120S), by major In-
dustry, 90
12 Returns of active corporations
other than Forms 1120S and 1120-
DISC: Income subject to tax:
Number of returns, net long-term
capital gain, net income, in-
come subject to tax, income
tax, and credits, by size of
income taxed at normal tax and
surtax rates or size of deficit,
106
13 Returns of active corporations
other than Forms 1120S and 1120-
DISC: Number of returns, se-
lected receipts, net income,
statutory special deductions,
income subject to tax, income
tax, credits, tax payments, tax
due or overpayment, selected tax
preference and investment credit
items, by size of income tax
after credits. 111
14 Returns of active corporations:
Taxpayments: Number of returns,
net income, special deductions,
income tax, credits, tax pay-
ments, tax due or overpayment,
by taxpayment status, by size of
total tax after credits, 114
15 Returns of active corporations
other than Forms 1120S and 1120-
DISC: Number of returns, net
income, income subject to tax,
income tax, credits, payments,
and tax due and overpayment,
for total returns and returns
with and without estimated tax
payments, by size of Income tax
subject to estimated tax pay-
ments, 119
16 Returns of active corporations:
Income, special deductions, in-
come tax, credits, and taxpay-
mer.t items, by accounting
period, 122
17 Returns of active corporations
with estimated tax paj-ments:
Number of returns, net Income,
incme subject to tax, income
tax, credits, payments, tax
due, and overpayment, by tax
status, by accounting period, 124
INVESTMENT CREDIT ITEMS
18 Returns of active corporations
other than Forms 1120S and 1120-
DISC: Investment credit and re-
lated items, for total returns,
and returns with carryover, by
size of investment credit, 126
19 Returns of active corporations
other than Forms 1120S and 1120-
DISC: Investment credit items:
Number of returns, cost of prop-
erty, investment qualified for
credit, tentative credit, carry-
over, income tax, investment
credit, unused credit, depreci-
able assets, depreciation deduc-
tion, and returns with carry-
over, by major industry, 128
TAX PREFERENCE ITEMS
20 Returns of active corporations
other than Forms 1120S and 1120-
DISC: Tax preference items:
Number of returns, and tax pref-
erence and related Items, by tax
preference status, by major in-
dustry, 132
21 Returns of active corporations
other than Forms 1120S and 1120-
DISC: Tax preference items:
Number of returns, and tax pref-
erence and related items, by
size of total assets, 140
22 Returns of active corporations
other than Forms 1120S and 1120-
DISC: Tax preference and re-
lated items, by income status,
by normal tax, surtax, and al-
ternative tax status, by size of
total items of tax preference,
142
23 Returns of active corporations
other than Forms 1120S and 1120-
DISC, with items of tax prefer-
ence: Number of returns, tax
preference and related Items,
by tax status, by size of total
items of tax preference after
statutory exclusion and income
tax used as an offset, 151
WORK INCENTIVE (WIN) CREDIT ITEMS
24 Returns of active corporations
other than Form 1120-DISC: Work
incentive (WIN) credit items, by
industrial division, by size of
total assets, 156
10
Corporation Returns/1974
SMALL BUSINESS CORPORATIONS
ELECTING TO BE TAXED THROUGH
STOCKHOLDERS
25 Number of returns, Income tax,
selected tax preference items,
and investment credit property,
by Industrial division, 159
26 Selected balance sheet and in-
come statement items, income
subject to tax, tax, and distri-
butions to stockholders, by in-
dustrial division, by size of
total assets, 160
27 Stockholders, business receipts,
net income (less deficit), dis-
tributions to stockholders, and
net worth, by industrial divi-
sion, size of total assets, and
number of stockholders, 165
FOREIGN CORPORATIONS AND FOREIGN-
OWNED U.S. CORPORATIONS
28 Returns of active domestic cor-
porations: Number of returns
with and without 50 percent or
more ownership by another
entity, and balance sheets and
income statements for returns
with 50 percent or more foreign
ownership, by selected indus-
trial divisions, 168
29 Returns of active foreign cor-
porations with U.S. business
operations. Form 1120F: Income
statement and tax items, by in-
dustrial division, 170
DOMESTIC INTERNATIONAL SALES
CORPORATIONS (DISC's)
30 Balance sheets and income state-
ments, as shown on Form 1120-
DISC, 171
31 Balance sheets and income state-
ments, by selected industries,
172
CONSOLIDATED RETURNS AND CONTROLLED
GROUPS
32 Consolidated returns: Balance
sheets and income statements, by
size of total assets, 17A
33 Consolidated returns: Balance
sheets and income statements, by
industrial division, 176
3t Returns of members of controlled
groups other than Form
1120-DISC: Number of returns,
total assets, total receipts,
net income, income tax, and
selected dividend items, by
major industry, by type of
return, 177
Corporation Returns/ 1974
11
RETURNS OF ACTIVE CORPORATIONS
Table 1.— Number of Returns, Receipts, Cost of Sales and Operations, Net Income, Tax and Credit Items, Distributions to Stockholders,
Total Assets, Net Worth, Depreciable Assets, and Depreciation Deduction, by Minor Industry
[All ligures die esiimdles based or iampifes-money amo
nis are r^ Ihousands ot doilarsj
Minor industry
Number
Qt returns
Total receipts
Business
receipts
Cost of
sales and
operations
Net income
(less deficit)
Net income
Income
subject
10 tai
Total
With net
income
" All
returns
Relurns
witn net
income
Total
income
tai
Total returns ol active corporations
0)
(2)
|3|
f«)
(51
161
(71
(81
|9|
(101
1
'1.96S.894
1.207.396
3.089.701.363
2,646.541.904
2.854.819.489
2.068.068.555
145.997.808
171.166.224
143.982.513
875.563
66.1t2.989
2
Agnculture. forestry, and fishing
53.458
31.500
25.452,628
17.029.180
24.182.699
18.427.009
421.163
1.319.161
335.628
3
4
Agricultural production
Agricultural services, forestry and lisnmq
16 t4d
22 149
9 351
19412 782
6 039 846
12 274 636
4 754 342
18 369 091
5 -93 808
14 176 741
4250 268
281 287
139 876
1 067.293
251 868
693 231
182 332
268411
67217
5
Mltiing
15.732
8,931
64.804.842
61.836.820
62.864.619
22.796.306
25.904.075
26.404.766
25.556.760
12.257.873
6
7
8
9
Melai mining
Iron ores
Coppe', lead and ?mc qoid and stiver
ores
Other metal m.n.ng
1,769
585
799
365
71
19
CI
4,917.056
1.222.766
3 424 986
269 304
4 452.253
844,377
3,403 781
1')
4.613 160
' 128896
3,228,104
256160
3.096.430
911427
2.031.277
153.726
428,125
-3 353
448,356
-16.880
556306
78 90?
460 531
(-)
423 040
62006
354 255
I*)
214859
27.984
183 645
10
11
12
13
Coal rnming
Oil and gas e>t(aci>on
Cfude petfoieum natural gas. ano naturai
gas liquids
Oil and gas lield services
2,059
8 350
3,915
4 435
1,556
5.090
1924
3166
9,363,219
44 857,211
39719.251
M 37 960
9 187 123
43462,577
38,767,114
4 695 463
9 011 027
43.795 720
39 114.137
4.681 583
5.457.994
10 832 522
7.938,868
2693 654
1 449,355
23 560012
23 027,715
552,297
1501 386
23.832,392
23,194.150
638,242
1 224 960
23 494.209
22 974 283
519 926
581 960
11,263679
11.027.442
236.237
^4
16
16
NonmelalliC minerals. e<cepl fuels
Dtmer^Sion, crushed and broken slone.
sand and grave)
Other nonmelallic minerals, excepl fuels
3 554
2.860
69d
2,214
1.922
292
5,667,356
3 567 364
2079 992
4 736 86-
2 803 339
I 933 528
5.444,712
3 444 94J
' 999 769
3 409.360
2 357 16'
'052 '93
446583
148 893
297690
514.682
198.141
316541
414 551
160 607
253 944
137.375
71.183
126.192
17
Constfijction
185.563
106.874
137.024.339
102.197.793
133.676.369
109.462.490
1.848.217
1.924.712
2.945.829
I.164.33S
18
19
20
General Ouildmg contractors and operatrve
burlders
General building conlraclors .
Operaitve butiders
^4 694
70,736
3,958
38,621
36.680
1,941
59 817,634
56.535,468
3,282,166
42.042566
40,053.757
1986 809
58 007 690
54 909.107
3 098 783
50 732 104
48.111 781
2620 323
301,250
380.651
-79,401
1.381.003
1,300.838
80,165
984 769
938 782
45,987
394.327
377.246
17.081
21
22
23
24
25
Heavy construclron contractors
Special trade contraclors
Plumbing, heating, and at' conditioning
Electrical work
Other special trade contraclors and
contraclors not allocable
14 895
95.974
21.751
17 453
56 770
9,302
58.951
13.305
11?46
34 400
27 362 529
49.644.176
14,064,851
9 421 782
26,357,543
21.701544
38,453.583
10,592.828
7,358 992
20501 863
26 425 003
49.243.476
13 926 050
9 304.638
26 012 788
21.171.028
37,559.358
10973 646
7 257 434
'9 328 278
668.824
878 143
210890
166,855
500 .198
1,022 384
'521.325
365.923
276335
679 067
868,342
1 092 718
275430
186 007
631 285
385.410
404,598
101,204
69.630
233,764
26
Manufacturing
211.563
137.843
1.297.265.7?3
1,170,736.656
1.252.370.903
937.183.391
72.533.486
78.246.608
68.892,235
32.288.865
27
28
29
30
31
32
Pood and kindred products
Meat products
Dairy' p''3duc!s
Preserved iruiis and vegetables
Gram mill producis
Bakery products
15,060
2.310
2 ore
98-
1,930
1,897
10,468
t,714
t 139
797
1,359
1,3?2
156 116,869
38 451.664
19 702 123
13 828.045
20227,288
8392760
136,382474
30590 145
18 101629
'2 886 106
19,370.993
6,893 757
155 441333
37 987.667
'9 440 236
13523 7S2
19,864 229
8 305 858
123 456,615
33 215,555
:6.064 757
'0 062 766
'6 363.982
5 797 407
5 428 519
496215
625 438
c02,32e
360 705
209 543
6,077 045
649348
669 105
633.910
894 605
247 892
5 791051
613 102
648578
6-3 849
84 1- 421
227 674
2 736291
288,311
308 673
290022
400 669
106 679
33
34
35
36
37
Sugar and conleclionery products
Malt liquors and mait
Alcoholic beverages, except malt liquors
and malt
Bottled soft d-nks and flavorings
Other food and kindred p'Oducts
937
51
208
^981)
.^684
546
33
I3B
1577
1843
9,415,772
7095.002
9 436.534
10,167 193
21400.288
7.923,172
6,581,640
6356.248
9 445,277
19,233.305
9 245 137
7 002 165
9 150,358
9 660.537
21061.35.1
'25' 828
4 562 477
6 7te 70?
678t 7 75
16 570 366
653 496
221 703
324621
700.332
734 138
717614
290,491
402.020
725,939
846.121
7C3 456
285796
341743
681 620
821812
334 316
135,970
163 452
322,660
395 337
38
39
40
41
42
Tobacco manuiaclures
Textile mill products
Weaving mills and lenliie limshmg
Knitting mills
Other !e<tile miil products
63
6,274
672
2 !46
60
3539
5i2
;,0i3
2014
13 476,604
31 133 971
14091,166
5646,299
11394 506
12376.935
23 389421
12 473 923
3421 111
- 494 387
13066.216
30 679012
'.1814.85'
5,584.603
1-239 552
8,270-261
.'4 024 804
10.6-5.464
4 768 726
8,*n6i2
1.202.869
775.60-
583 404
3-3 111
156.702
1.208.275
1,217.432
669.067
164 716
363.649
1 146. .'20
1 146.889
682 828
'48 445
335616
552 603
539.160
316 3:7
67 843
154 9fi'i
43
44
45
46
47
Apparel and other textne products
Mens and boys clothing
Women s and children s clothing
Other apparel and accessories
M'sceiianeous labncated textile prodiicis
textile producis nol elsewhere ciassilied
■c 10b
6 853
2 161
9,885
1.654
4.899
1 449
30 578 472
9 421931
15 189,478
2.539 475
3.427,588
23 792,069
7 271 33-
11537,997
2093 778
2 888 963
30,218703
9 263 112
15.045115
2 523337
3,387,138
23165.514
7 137 741
11.574 191
1 909 251
254433-
728 988
217 195
329.396
75.652
106,755
1 047.499
318.249
498.434
95.460
135 336
42' 803
282 087
4;c «92
86511
'21.291
415 866
130 538
193.700
37,781
53,847
48
49
50
51
Lumber and wood products
Logging, sawmills, and planing mills
MtUwo'k, plywood and related products
Olher wood products, mclud'ng wood
buildings and mobile homes
4 153
J 4:?
4 .-2:
2 797
?.6it
2,679
31 409,053
1 1 465,040
11,977,758
7966.255
24 21-525
9 736 344
8417 710
6063 469
26 989 437;
'0 011,568
11.268.99'i
7 708 863
22032 534
7.379 43j
8.637 488
6015,583
1325 167
869.047
342,575
'14.566
' 973.249
1 020 525
508,709
344015
1 783 735
' go; 910
475 709
301 116
625.055
334 456
158.234
132.365
52
53
54
55
Furmlure and fixtures
Paper and allied products
Putp paper, and board mills
Other paper products
6 951
3 76'..
34-6
4,eo9
2 887
19?
10279.282
35.684,019
17 913,595
17.770 424
8 528.742
34 317,052
17 427 297
16889755
10 140.592
34412.987
17 120 595
17 292.392
7401,597
23.635.595
12.181 191
1 1 454 404
337 739
3.176.304
1586,918
1.589386
434 802
3.232.470
1 606918
1.625 552
402 331
3.145 570
1 588871
1556699
182.408
1.397.762
681.775
715.987
56
57
58
59
60
Pnnttng and publishing
Newspapers
Periodicals
Boovs, o<>=e!i"q cards and mocellanecus
publisfiing
Commercial and other p'.ntmg arc! printing
trade sen*ices
25 2: 1
5 724
2 326
.15"
3,?i6
1,232
■f 235
37 371344
12414 178
4,855.414
7 175 145
12926 607
33,490075
11878.239
4,158,834
6 T- J 052
■20 95C
36,149,905
11907 178
4 656 284
-. o7b 4.'6
12 '10.015
23.358,324
7754.531
3046.913
4 1.-6 4?(
2,354 115
1 125.013
235 304
370 4-'
523 30'
2.683 388
I '74 154
93914
,!■: 161
723 156
2 476 974
1 115.451
252 329
453 537
655 657
1,129.344
516.131
111.813
212.935
298465
61
62
63
64
65
66
Ch.5micais and ati'ed pto^'-cts
incusltai chesf-cals, piasucs materials
ar.c sv'ihei-ci
D'uqs
Scap Cleaners a"d tc^iel goods
=ainK and sHied proCi.:ts
^qrtcullural and oiher chemical producis
1421
2?56
■^2
867
1.128
1.781
96 735,418
473:9.811
19 494 557
13 639 629
4 217 788
12 063.633
94 0S3 306
46 56-1 '36
'9 0-3 981
1.1267 574
3 939,213
11 116.402
■.30-2.-
'8 528 >45
':-762 :■■■>
4 181 211
11.491 650
3C'H1.>-
'Ci.'-,-.i9
V .-8' '162
2991-540
7.795 106
9,051 '•it
4 3i6>a!
2i:'J739
'1:82,971
:?'J984
1241966
•■ 226 529
4 452 122
2 163.522
1 ■23,016
209 445
1 260 424
8867217
4 291 92'
2127341
1 100 405
199 020
1.170 534
4 207 149
2 041.392
1,006044
525.351
91972
540.390
67
66
69
Petroleum (.nciud'ng miegraled) and coal
products
Petroleum relmmg 'including mlegraledi
Petroleum and coai products, not elsewhere
classified
I03i.
324
715
812
296
516
274589,707
271988 569
2 601 138
272 323 700
269.751,147
2 572 553
260,851,782
258,298148
2,553,634
217.231,765
215.413.651
1.818.114
20126.662
19,915841
210 821
20 181634
19968601
213 033
14,356.392
14.173 369
185323
7.038.220
6.952.950
85.270
y
Rubber and miscellaneous plasties products
Pi,bber products piaslics fpotwea' hos---
;trd belting
8 109
1 UO
6 96^-
4969
621
25 071,846
17 477 013
- 594 8.13
22 994 91 1
16528.674
•; 466 237
24 572 312
'7.069.675
'':i ?3-i
17.241.352
•I.972917
5 2«S,435
903246
566,665
336 581
1 022.624
603316
419336
952 094
579.723
— 37-
436.770
275 130
73
74
7f
C'CCJCIS
...„i . . ._. . I.- C'Oducii not
•.-iscw.<-tc Classified
:080
547
1 .53. ■>
14i7
370
'36'
7 656 141
5 342 60-
2 313 335
5 236 76'
j 3/7.030
' 659 7 : .•
..- jsb.eai
5 5 ■ ? ■ 7iC
' .31039
; 719 137
64 569
2!! 442
153';'
ee "11
22' 104
1^7 856
•|)24»
ij^3i;
Foolnotes at end ol table See text lor E.-pia'^at'On ol Tt?rTis ^no Description ol me Sampk' and Ltrniiations ol the Date
12
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 1.— Number of Returns, Receipts, Cost of Sales and Operations, Net Income, Tax and Credit Items, Distributions to Stockholders,
Total Assets, Net Worth, Depreciable Assets, and Depreciation Deduction, by Minor Industry— Continued
|AII ligures ait eslimales basfid on samples—money amounis dfe in Ihou^^ands ol dollafsl
—
Minor industry
Number
ol returns
Total receipts
Business
receipts
Cost of
sates and
operalions
Net income
(less deticit)
Net income
Income
subiect
to tax
Total
With net
income
Alt
returns
Relurns
with net
income
Total
income
tai
Manutaclunng — Continued
It)
(21
(31
141
(51
(61
(71
(61
(91
(101
76
Stone clay and glass products
9563
6.707
27 062 389
23 591601
26 399 248
16 154 888
1 063 561
1 266 065
1 139619
518,709
77
Glass products
850
545
7 755 076
7 449 236
7 544 566
5 145 602
378 943
400 921
383.066
178.632
78
Cement, tiydraulic
45
43
2 496.032
2.244 697
2431,098
1 634 045
110410
115.077
108.934
52.138
7?
Concrete, gypsum and plaster products
5 326
3 948
9 034 766
6 891659
8832146
6 164 918
226 248
331913
297,290
126,669
80
Other nonmctattic ni'neral products
3 342
2171
7776513
7 005 607
7 591,436
5210 323
367 960
418 154
350.329
159,250
81
Primary metal industries
4 636
3764
92 502 102
90 467 392
90,065973
66,265 106
6 321206
6.395 211
5 680.790
2.707.709
S?
Ferrous metal indusliies miscellaneous
primary metal p'OOucis
1963
1578
57 931054
57 325 565
56 760,692
40,691.825
4 435 193
4 468 246
4.075,228
1,941.536
63
Nonteiious metal industries
2 6' J
2 186
34 571 048
33 141807
33 285,281
25573 281
1 886013
1 926 965
1 605 562
766,171
e.1
Fabricated mtlal prooucts
25 327
18 161
60 208 926
54 329.269
59 134,318
42 600 444
3 548 209
3 651 192
3,554,775
1,629,096
85
Metal wins and shipping coniaineis
124
121
t. 636 04 1
6596 031
6,525 665
4,743 270
364242
364 422
360861
179.655
66
Cutlery hand Icoi^, and hardware, screw
machine products bolls, and simitai products
J 488
2 334
B 144.102
7860 728
7,945,784
5,237,731
718,910
732 509
695147
320,720
87
Plumbing and tieaiing except electiic and
warm atf
744
519
6,310,225
5,872093
6 178 268
4,345,571
355097
375552
364416
170,708
88
Fabricated structural metal products
8003
5 979
17 844 460
15 829,690
17,594 139
13,291.057
897 755
1022 269
699 274
407,800
89
Metal torgings and stampings
3 150
2.373
6819.937
5,520,249
6 723,773
5049686
341568
373885
352.770
160.518
90
Coating, engraymg and allied senrices
2448
2.001
1,974,414
1602,014
1,952 020
1.290214
103 654
115557
104,466
45.105
91
Ordnance and accessories except vehicles
'
and guided missiles
124
58
1 179 502
757 049
1 149186
675554
8 447
31.197
29.992
14,051
92
Miscellaneous tabricaled m>?lal products
7 246
4 776
1 1 300 245
10 089.415
11065 463
7.967 361
736536
815601
727.829
330,539
93
Machinery except electncal
24,879
18.289
94 696,842
62.237 022
89,748,666
59 t96,676
7 002 663
7643417
7291211
3 426.598
9<
Farm machinery
818
751
7 596,272
7 442 530
7,229,027
4 917405
364 758
375,256
356.397
169.244
95
Construction and related machinery
2 060
1493
20 318 023
19 540 781
19,573 952
14.361239
1 295 791
I 328 700
1 263.987
596.569
96
Metatworlung machineiy
7 307
5 639
9 065 867
7536.043
6 668,705
6,018.461
501 821
568 448
505.229
222.585
97
Special industry machinery
2 149
1.498
9 101 019
8.220,610
8 737 902
6 159,445
396,951
474 790
447 731
206,360
98
General industrial machinery
262''
1.935
12 209 972
10,306,761
11,679 020
8,245 519
533 161
596076
555014
256.945
99
Otiice and computing machines
719
414
24 208014
20 312 343
21 506,626
10,839 500
3,524,641
3,718.943
3.654.808
1746.675
100
Other machinery except electrical
8 979
6.559
12,197,675
8 877 954
11,953 434
8655,107
385 720
581 202
506 045
222 200
101
Electncal and electronic equipment
10 800
6.202
83 616 024
71 185959
80 754 549
56,167 372
2 980 293
3645631
3 371 722
1 566.136
102
Household appliances
216
112
9 868 059
6 504 766
9641 931
6 947 268
196.738
315916
312158
149162
103
Radio telewtsion. and communication
equipment
1.796
900
17 969,036
15 503 729
16811087
11,337 756
460.603
625199
540463
233346
104
Electronic components and accessones
3.881
2299
20 813 806
15 705 151
20,259 426
14 552 144
682 990
933 698
813646
381.505
105
Other electric equipment
4.907
2 891
34,965,123
33,473 293
34 042 103
23,330 204
1 639 962
1.770.618
1.705.453
804,123
106
Motor vehicles and equipment
2,203
1471
105 706,273
88 332,508
102 829051
61913 741
2464 294
2853 643
2,799635
1,292.637
107
Transponalion equipment, eicept motor vehicles
3,651
2.309
41 791,329
36,146,525
40.079,044
31,037,747
1 263014
1437289
1 265,271
601.571
106
Aiicralt. guided missiles and parts
987
757
33,049,687
28 771.615
31 575289
24,246.029
1045490
1.106.015
971,721
457 634
109
Ship and boat building and repainng
1,547
952
4,205,996
3.535.705
4,071,858
3.260,021
120 085
175244
164,990
76.232
110
Other transportation equipmeril, except
molor vehicles
1.117
600
4,535,446
3,839,205
4,431,897
3,531,697
97,439
156.030
148 560
67 705
Ml
Instruments and related products
5761
3.579
21,092,478
17,296,169
20 312 772
13.330.819
1,652.635
1.833.276
1 752362
826935
112
Scientilic instruments and measuring
devices watches and clocks
1,910
1.170
9 224 1 16
6,113.224
8903.304
6.351645
296,474
396615
360,617
168.246
113
Optical, medical, and oolhalmi: goods
3,341
1976
5 544 426
5190.520
5372 418
3 301.430
439 978
492.589
462.515
214 977
nd
Pttotographic equipment ar-J supplies
■to
433
6 323 936
5 992 425
6 037,050
3 677.744
916,183
944.072
929 250
443.710
115
Miscellaneous mantitactiiring and
manutaitu'ing not altocabte
12 677
6 642
18 484,704
15416236
17 984 191
12 535 001
651 747
862 295
774450
352.071
116
Transportation and public utilities
80,232
47.197
222.074.759
130.591.225
214.217.780
132.102.441
8.683.870
11.016.101
10.101.528
4.719.299
117
Transportation
62 153
30 353
97 083 346
77 658,607
92 059 009
62,376074
2,657 392
3 907 632
3 185.600
1.423.965
118
Railroad ttansportdtion
425
240
22,206.801
17 307.178
19 682.005
13,428,633
426,093
959.668
882,859
401953
119
Local and interurban passenqi i transit
9.4-15
4 671
2 447 954
1.702.045
2 352 233
1.536,326
37,397
78535
56 692
22.671
120
Trucking and waietiousmq . .
32 459
20 364
34 206.356
28,289.978
33.285.070
21.662.492
982,703
1 268.956
1.090,689
473.736
121
Water transpcdation
5.315
3.456
7 334.412
6,543400
6 958 289
4.983.905
494,299
570 267
454.207
206900
122
Transportation by air
4.561
2018
19012291
14,474,076
18 098.870
11,638,009
385 704
5"'5.577
328363
149.968
123
Pipe lines except naluiai gas
J07
174
3 435.584
3385949
3.373359
2,713366
239437
251244
235350
1 12,250
124
Transportation sen/ices not etsewtiere ciassilied
9591
5230
8 439.948
5955.961
8.109243
6,013,343
91,759
203 365
135240
56,465
125
Communication
9.369
5700
51 404,239
4J430.326
50 510561
26 01 1 956
3,462,587
3.710.646
3641 119
1,744 040
126
Telephone letegraph. and other
communication services
3 580
2.486
45 290,161
44 001.953
44 esi 926
22 688 594
2,938352
3 066 718
3,037942
1462.643
127
Radio and leleyision broadcasting
5.789
3.212
0,114076
5,428,373
5.856.635
3.323 362
524 235
643930
603,177
281.397
128
Eleclnc gas. and siinilaty seivices
8.710
5.144
73597.174
53,502.292
71648.150
43.714 411
2.563 891
3,399.821
3.274.809
1.551,294
129
Electric scn/ices ...
212
159
23,468,483
14239,630
23.011,936
12,480.102
775,447
1 170.378
1.143.021
546,476
130
Gas production and distribution ...
1362
1.139
26 612 245
23,407,883
25 674,615
17,307,475
1,523,535
1.631039
1 595 642
749852
131
Combination utility services . .
74
56
20,743,305
13,981,779
20 269,216
12618063
177 558
456,590
419 942
200.725
132
Water supply and other samlaty services
7 0o2
3 790
2 763 141
1 873,000
2 4'J2 383
1,303 771
87 351
141 814
127 204
54,241
133
Wholesale and retail trade
602,423
403.036
923.364.74B
793.255.B64
906,907.258
707.674.250
22.573.062
27.386.659
19.338.626
8.315.540
134
Wholesale trade
214975
153.84.-
499,287.522
445058,769
491 668 543
411,215,460
16 294 356
18251 598
11.716.450
5.141.436
135
Groceries and reiared picd:icis
20870
15.195
77 63S8-.7
68 662,352
76875.101
67,765 545
933,287
1 130310
877 031
378.391
136
Machinery, equipmeni, and supplies
45 391
34 990
60 465.fc3;
56 691.663
59 142,737
44.266,649
3544,702
3 745 129
2 123.025
911.539
137
Miscellaneous wholesale trade
148.714
108 657
361 166.053
320 704.754
3;5-35ori:5
29'.1C3.C/-:b
11816369
13.376 159
5 716,344
3 851.506
138
Motor "etudes arid a..'nr-;otive .;qe.pmen'
1£ ■■.:■
14 lc4
26 879.297
22 165.530
26 535 525
20 927 342
779 024
964 253
?<ir,252
246847
139
Lumbei an2 const- jctio-i iPoteii^ts
3 a-'3
0.94
17.uS3,'71
14,175.587
16.* let
13 .-01 140
422, 733
517 957
380,133
157 341
140
li^etals and miner .iis except pttioii-um ami
scrap
4.^40
3.:.-.'o
2/640 4:.J
26.598,323
27 320 520
23 402 821
1,616 356
1658 23 i
1 2.'3,725
573C54
141
eieclricat goods
13.728
10.394
20 921,326
16,357.723
20,645,201
15 776,690
865 992
1 037 982
5s2 1-43
252.964
142
Hardware, plumbing and tieatiiig cquipincnl
10 375
6 565
18 542 474
16769.966
16 294 57t
t.-955573
654 954
69* 452
58' 464
251 230
143
Other durable goods
27 426
tS7f
55 431,682
49.850.053
54,328,019
41 6.'3,S24
1,734 653
2 066 307
1 413349
626.306
144
Paper and pap'-v products
4 683
3.235
8 935.399
8 532 904
8 824,854
e 964 735
424 155
441952
23- 552
101.121
145
Dugs chein.cals ar.o .iilied p'Oduc'.r.
7 801
5.4 1„
26 520 709
25 541 2.-1
26 120912
20 8514.-.-
1655 263
1 319 068
"91 7C7
366.207
146
Apparel piece gcmos. and noLons
10,137
6 543
11.516.998
9.434.61U
11,374.535
-. 32<. j:-j
170.079
359.293
264,113
111,367
147
1- arm PI .due: raw malenals
7,161
4 83i
59 200 Ci.7
5C. 709.326
5R 494,336
54,847,147
975 161
1063 451
6'J,216
314 105
148
pelru''\i.ii and petroleum prcqccls
8 981
6 231
36 739 931
34 001.502
36 044.777
32,205.133
695.724
1.042 674
815 736
360.362
149
Alcoholic beverages . .
4.619
3634
15 360.675
14,022,384
15267,160
12,064.324
439.755
467.591
361640
160.337
150
MiscelLineous nor.duiabte joods wholesale
trade not a toe able ,
21.215
14655
36 303.666
30 745,615
35 603,616
29,676,676
960.461
1 098.926
764,512
327,665
Foolnolcs iit end of liiLii- jee 10*1 io' 'Lxplanai'on ol Terms and Dt'Scnpliw oi the sample xtnti Liniitalions ol lh.j D.Ud '
Corporation Returns/ 1974
13
RETURNS OF ACTIVE CORPORATIONS
Table 1.— Number of Returns, Receipts, Cost of Sales and Operations, Net Income, Tax and Credit Items, Distributions to Stockholders,
Total Assets, Net Worth, Depreciable Assets, and Depreciation Deduction, by Minor Industry— Continued
iAII lit
urts are eslimales based on samples— money amo
unis are m ihousands ol dollars|
Minor industry
Number
ol returns
Tolal
eceipis
Business
receipts
Cost ol
sates and
operations
Net income
(less deficit)
Net income
Income
subiect
to tai
Totat
With net
income
All
returns
Returns
witti net
income
Total
income
tai
Wholesale and relaii trade— Continued
in
(2)
13)
141
151
161
(7)
161
(91
(10)
151
Retail iradL-
386 772
243 699
423 947 299
347.074706
415.121 401
296 283330
6275.298
9 131209
7 620 409
3 173 347
152
Building malenals garden supplies and
mobile home dealers
31 319
21 909
23 959 568
20 393 689
23 366.958
17 129 326
630.671
814 722
640 237
245944
153
Building fnalenals dealers
15015
11 796
16464.919
14 734 884
16 148 510
1 1 865 758
520 264
581 125
459 441
183 261
154
Maidware stores
9.219
6238
3 460 768
2.979668
3 404,890
2 321 189
103.033
129.248
99.251
33886
155
Ga'dL-n Supplies and mobile tiome dealers
7,085
3,875
4 033.881
2679 137
3 813 558
2 942 379
7.374
104.349
81 545
28 797
156
General merchand'Se slores
10996
7 363
83 126.899
71677 543
80 586 829
51 141 614
1.051 148
1.728.481
1 667 033
779,599
157
Food stores
26 335
17 148
97 811448
85 050 910
96 770 380
76413313
1.041.608
1.258.984
1 110685
495,205
158
Aulomolive dealets and service siat.ons
63 863
41634
96 885068
73.889778
95 286 353
78 669 245
932.416
1.359 706
1 129 784
439 527
159
Moior vehicle dealers
32 965
20 978
76.180 957
56,259,825
.'4 891 460
63 306 550
366089
692.359
560 381
206,478
160
Gasoline service slalions
12662
9972
11.871.778
10.743,801
11 731 247
9,437 033
415.213
431.204
383.271
165 293
161
Olher auiomotive dealers
18 236
10684
8.832.333
6986,152
8663 646
6125662
151 114
236143
186,132
65,756
162
Apparel and accessory slores
38 529
27 378
20 807 862
17.036 910
20 345 266
12312131
497 334
747 513
625,209
250.437
163
Furniture and home lurmshings slo'es
36 044
22,108
19153.181
14.751.337
19 394.225
11 871.871
291.209
519066
406 669
148 090
-4*4
Ealing and dnnKmg places
76601
40.854
28 828193
20 598 215
28 1 16 387
12968.061
587.468
1.010.244
694,336
277217
165
MisceKaneous relail sices
103065
65505
53375,060
43676.324
52.255 003
35 577 769
1 243 444
1 692 493
t. 346.456
537 328
166
Drug Slores and p(opnelar> slores
20 316
14.252
15,192,393
12.684.376
14941 798
10 505.018
272.713
366 798
296.822
123,845
167
Liquor slores
12 074
7385
5193.817
3.757.763
5155889
4.129.879
55.605
99 371
68.621
22 886
168
Olher relail Slores
70 695
43868
32 988.870
27 233 685
32 157316
20 942 872
916 126
1226 324
980813
390 597
169
Wholesale and retail irade nol allocatile
i;.7b
295
129 927
122389
1 17 .114
?5 4bU
J 406
3 852
n
1*1
170
Finance, insurance, and real estale
4:5.249
248.323
303.198.775
234.091.644
149.205.190
82.502.672
11.504.156
17.831.845
12,594.288
S.570,370
171
Banhmg
14 534
12 030
90.485.545
70.084 245
10369.799
2.882.832
2.834 767
3.632.846
3.403.262
1.578.659
172
Mutual savings Oanhs
452
419
7 599.954
6 114.401
230.387
49655
250.258
267,002
188.891
90.557
173
Bank holding companies
420
266
48,694,958
39 385 253
7.346 995
2 736.736
936 389
1 217213
1 166.683
566898
17a
Banks e«cep1 mulual savings banks and
bank holding companies
13 662
11.345
34 190 633
24584591
2 792.417
96 441
1646.120
2 128631
2 047.688
921 204
175
Credit agencies olher Ihan banks
48 597
28 029
45 373 990
39 642.596
17 249.861
11497 056
1 207 268
1,885 326
1.745.246
801.604
176
Savings and loan assoctalions
5 046
4 364
21 145.159
19.238,101
1039.570
142 021
779.555
912,172
888.878
431.959
177
Personal credit insiitulions
4 422
2 965
6 959.431
5776,174
5 097 964
2 902 220
78.146
208 662
186.440
60.035
178
Business credit inslilulions
834
597
3064,244
2710.105
1 921 Ota
279 656
301 470
281 031
134.142
179
Other credit agencies, (inance nol allocable
38 295
20 103
14,205156
11 918,216
9 191309
ernn.i'H,
69 911
463,022
388.897
155!468
180
Security commodity brokers and services
4867
2 190
5512,539
3 369 606
2600.417
t.-,. :. ■
126 752
341.700
267,206
122.067
181
Security brokers and dealers
2.505
1 263
477699C
2.909.592
2.096 576
5H2 126
41570
231.127
198 421
91.778
182
Commodilv contracts brokers and dealers
security and commodity exchanges and
allied services
2 362
927
735 549
460 014
503 841
I-)
85.182
110 573
68.785
30 289
183
Insurance
8 343
5 961
120800,420
93.562 929
98 299.376
60 739 857
3 676.996
5 253,579
4.325.209
2 056,474
184
Lite insurance
1 718
• 135
71 108.823
67.497.067
54 127 337
32463579
4,243.704
4 450 635
3.942.096
1 885 107
185
Mutual insurance, except lite or marine
and certain lire or (lood insurance
companies'
1 111
841
14.373.927
8 183 493
13 156419
8 560 706
-48.489
240.073
164 792
75 157
186
Olfier insurance companies
5514
3 985
35.317.670
17 602.349
31.015620
19715572
-518.219
562 871
218321
96.210
187
Insurance agents, brokers, and service
35 387
22.733
6 969,625
5428.874
6 697 331
1 807 341
375.332
501897
382 595
148 733
188
fleal estate
266616
148 974
25 713629
15 737.681
13 128 075
4.590 172
207.111
2.549 035
1 916.051
657 182
189
Real estate operators and lessors ol
buildings
175 984
106 064
13614848
8654 663
5 548 988
1 835.586
571.17-2
1 574 193
1.340357
450 000
190
Lessors of mining, o". and similar property
751
705
313 927
299 580
49 547
n
62 624
64 718
61 454
25,561
191
Lessors of railroad property, and ol real
properly nol elsewhere classihed
7 400
4.510
322 045
!2I 229
122 573
22.154
41.832
80 587
73.200
25.229
192
Subdividers and developers
33 431
15 454
4 77' 557
2620,121
1.351.689
801 402
-442 688
486 803
247 458
92.212
193
Other real estate
49 050
22 241
b 685 .552
3942,088
6 055 278
1918 726
-25 636
342734
193 582
64,180
194
Holding and olher investment companies.
except bank holding companies
46 905
28.406
8 343 027
6 245,713
860 331
332 157
3.075.930
3 667 462
554 719
205,651
195
Regulated mvestmeni companies
700
558
2.790,046
2 675656
I'l
_
2.333147
2.343210
(')
I')
196
Real estate investment trusts
212
128
2.246.358
671492
9912
^
-67.035
141 911
36
155
197
Small business investment companies
388
46
65.221
17 140
30.899
n
-9.520
2 500
1 822
739
196
Other holding and mveslmenl companies
except bank holding companies
45.605
27,672
3 241 402
2 681425
819.515
312509
819 338
1 179 641
552.808
204,745
199
Services
388.832
221.490
1 15.569.142
66.074.330
1t0.497.541
57.418.698
2.500.180
4.989.527
3.652.166
1.431,617
200
Hotels and other lodging places
18,236
9.253
9 138 652
5-15132
8 570 009
4 408 016
-102 064
312.451
208,949
85.287
201
Personal services
38,272
22 164
6322.079
6.625.049
8 127 720
4 253 833
319 093
432.819
327.689
127935
202
Business services
106484
56 369
35,070.238
26.461.577
33 336.080
19.302.575
803.908
1557.005
1.144.916
470.812
203
Advertising
12,061
6709
9.016393
7.662.754
8 923 539
6 574,535
209 144
256117
219.920
94778
204
Business services, encepl advertising
94 42:-
49 660
26 053.645
18.798 823
24 512 541
12 728 040
594 764
1.300,888
924.996
376034
205
Auto repair miscellaneous repair services
49 122
30 183
12.232.358
8836407
1 1 698 020
6 262 457
294439
438,147
361 144
132 257
206
Auto repair and services
34218
20741
9 378.063
6597.920
8 868 900
4 432.069
171.858
343 440
263,843
99,076
207
Miscellaneous repair services
14 904
9,442
2.854.295
2238487
2 829.120
1830 368
122 581
144 707
97,301
33,181
208
Amusement and recreation sen/ices
35112
17,409
15 550,874
1 1 884,029
14246010
7 960 519
486.761
945,234
7'7707
308.309
209
Motion picture production, distribution.
and services
5252
2.882
5.657.597
4 589,470
5.121.120
3.087 750
215821
317,687
248,271
111,551
210
Motion picture theaters
3 789
2 168
2 175 591
I 520565
2 031.967
1 087 129
44.910
98.983
75,562
30 253
211
Amusement and recreation services e<cept
motion pictures
26 071
12.359
7 717,686
5,773,994
7092.923
3.785 640
226.030
528.564
393874
166 505
212
Olher services
141606
86 112
15,274 941
26 652136
34 519.702
15 231 299
698 043
1.253.871
891 561
307,017
213
Oflices ol physicians, including
osleopatfiic physicians
44 728
32 072
9.845705
7,766 530
9 779.677
2 116174
185-802
226.780
200.294
50.285
214
Oftices ol dentists
12 882
10 163
2 041.560
1 551 507
2027.766
646.969
39.237
51.072
38.831
8582
215
Nursing and personal care laciMies
5996
4 457
3 787.858
2910,489
3 670 287
2290.606
105.939
168.083
95.923
34 408
216
Medical laboratones
1.795
1.122
542 599
464 160
520.397
295334
36416
38 749
24 421
9 326
217
Other medical services
10279
6 919
4 281851
3 492 713
4 147,196
2 118 976
81.502
151.322
114 708
42 517
218
Legal sewices
8.330
6 245
1.712.135
1 410 569
1,695 133
290210
29.001
47 726
27013
6 064
219
Educational services
7819
4 159
1.373,559
870 904
1 328 439
649 883
-2983
54 589
35.903
11842
220
Miscellaneous services not elsewhere
classified
49 ^77
20 975
1 1 689 674
8 081; 244
1 1 '50 807
6 821 164
223 129
515 550
354 4C8
143993
221
Mature of business nol allocable
2.842
2.202
926.337
725.392
896,930
601.298
29.599
44.945
25.618
9.462
Foolnotes at endol table Seeie"! tot 'E>pianalionol Terms and Description of t'le Sample and Limitations ol the Dala
14
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 1. — Number of Returns, Receipts, Cost of Sales and Operations, Net Income, Tax and Credit Items, Distributions to Stockholders,
Total Assets, Net Wortti, Depreciable Assets, and Depreciation Deduction, by Minor Industry— Continued
lAll ligures are eslimales based on samples-money amo
jnis are in thousands ol OollaisJ
Minor industry
Foreign
tax credit
Investment
credit
Total income
tax alter
credits
Distributions to stock-
holders except in own
stock
Total
assets
Net worth
Depreciable
assets
Depreciation
deductions
Alt
returns
Returns
with net
income
Total returns ol active corporations
(ft)
(121
(131
("1
(151
(16)
(171
(181
(191
,
20.752.819
1.05B
4.221.384
42.576
4f. 130.991
291.989
49.280,658
195.454
45,506,183
188.127
4.016.466,940
19.283.714
1.015,735.379
6.306.911
1 179.165,211
10.654.246
78.597.689
2
Agriculture, forestry, and listiing
932.135
3
Agricultural production
Agncullural services, loieslry and listimg
1050
CI
33 593
8983
233 767
56 222
162 648
32.806
155.438
32,689
16 112 540
3 171 174
5 248 494
1058 417
8 767 839
2 0B6 407
740.773
191362
5
Mining
11.061.741
134.767
1.061.288
7.729.679
7.690.803
47.039.718
21.372,834
23.688.529
1.669.536
6
7
8
9
Metal mining
Iron ores
Copper, lead and zinc, gold and silvei oies
Other metal mining
84 315
(*t
(*)
19 463
C)
15 974
C)
111,012
CI
88530
C)
212 721
CI
176 130
CI
212721
CI
176.130
CI
9 581 534
2 540,328
6 355,201
686 005
5 985 076
1 272 466
4523314
189 296
4 781 746
1.483 170
2,910890
387 686
28735?
87.690
173.656
26.011
10
11
12
13
Coal mining
Oil and gas extraction
Crude petroleum, natural gas and natural gas liquids
Oil and gas tield senrices
n
10 867 032
10 797.925
69 107
43 731
36.695
12 309
24.386
487 236
359.951
217.208
142743
231 179
7 171 377
7 106,715
64,662
231 179
7 139 475
7.076886
62.589
7 570 943
23 763 874
16 780 195
6983679
3 723 087
8.504 041
5 507 779
2 996 262
4670,573
9809 821
5,841,084
3 967 737
416.034
627.458
292.077
335.381
Id
15
16
Nonmetallic mineials except luels
Dimension, ciushed and brolien stone, sand and gravel
Other nonmetallic minerals, except luels
CI
C)
CI
34878
12 713
22 165
103089
58 467
44 622
114 402
52461
61 941
107.428
46.103
61 325
6,123367
3085,793
3 037 574
3 160.630
1621928
1 538 702
4427,389
2748,805
1 678 584
338.687
228.582
110 105
17
Construction
55.296
102.834
1.026,043
454.047
377.493
74.108.047
17.288.991
25.224.752
2.589.881
18
19
20
General building contractors and operative builders
General building conliaclors
Operative builders
27 934
27.785
C)
2\ 725
21,154
571
344,636
328,275
16361
165.752
135 007
30.745
119376
106434
12.942
38.011 499
33 819 592
4 191 907
5 777 336
5 401 664
375 672
8.022,495
7296 683
725 812
703.179
654.954
46.225
21
22
23
24
25
Heavy construction contractors
Special trade conliaclors
Plumbing heating and a'l conditioning
Eleclncal worli
Other special trade contractors and conlraclors nol allocable
23 027
4 335
("1
C>
4 132
49 267
31 842
4832
2819
24 191
313 088
368.319
96.184
66.791
205344
109 363
178 932
40611
44 038
94 283
94 255
163.862
33 661
38 957
91 244
16 029 914
20 066 634
5 883 528
3 722 072
10 461 034
5 650 794
5 860 861
1 638 702
t 141839
] O0IJ 320
9 689 833
7 312 424
1 446 246
981 542
4 884 636
1.022.355
864.347
153.760
108.693
601.894
26
Manulacluring
8.379.785
2.111.709
21.792,035
18.706.198
18.212.392
885.822.652
411.277.220
460.913.499
31.762.113
27
Food and Kindred products ...
293 719
C)
CI
27.379
67 189
CI
168 862
22 255
18 860
20 323
21,257
8,652
2273,574
257,944
265,722
242,311
312,222
94,862
1 460,382
166 208
200,964
134,478
221 926
58 717
1 412937
153913
191.169
133.784
221.273
56479
70 519 843
8 888 859
8123630
10 221 597
8143,975
3 440 402
32,153371
3030 191
3864,809
5 042 000
3 799,291
1 562 791
35,847 884
4 927 109
4 215,087
3,886303
4 234 391
2 339 169
2 628 235
28
29
30
31
32
fkrteal products
Dairy producis
Preserved Irutis and vegetables
Grain mill producis
Bakery products
432249
310.755
266.364
259815
164.039
33
34
35
36
37
Sugar and confeclionery producis
Mall liquors and matt
Alcoholic beveiages. except mall liquois and mall
Bottled son dnnhs and tlavorings
Other food and l^indied producis
13671
(■)
CI
112 765
24 941
9 785
17613
6231
22 135
21 751
310,857
118 172
144 896
187 956
338 630
105,519
68 059
119 838
228 025
156,648
96336
67372
1 1 1 ,925
226,549
154 137
4.940 958
3.783 610
7.561 787
6 042 457
9372568
2 250 969
2 199 579
3 131 345
2997 039
4 275 357
2 514,602
3 248 640
1975 038
3 695 389
4 812 156
154 322
216 473
120.260
358.756
345.202
38
39
40
41
42
Tobacco manulactures
Textile mill producis
Weaving mills and lextile linishmg
Knitling mills
Other textile mill products
C)
6 573
3545
CI
2492
21549
41,217
27 545
3 658
10014
365,317
491223
285.153
63.620
142.450
377 967
233247
145 888
25818
61,541
374 657
201 057
137 827
17 890
45350
14.032 044
19141 758
9.533 818
3 696 716
5,911 226
6553,855
9281 736
5289,800
1 242,372
2749,564
3 320 729
12,101 096
6 904 745
1 714 227
3 482 124
260.296
864.408
465.092
141.327
257.989
43
44
45
46
47
Apparel and other textile products
Men s and boys clothing
Women s and childien s clolhing
Other apparel and accessories
Miscellaneous labncated leitile pioducls. textile
products not elsewhere classitiefl
4053
2332
1 650
CI
CI
11 306
4282
4496
828
1 700
400.271
123,908
187 470
36,803
52,090
166,688
73,913
73023
10475
9,277
149 061
67,423
63 690
8 831
9137
13,842935
5,270,917
5865613
1 084 597
1 621806
6,046,599
2,367,639
2436,503
482,242
760215
3394,360
1 122,681
1,509,089
209,050
553 540
280.319
92.186
125.077
14,749
48,307
48
49
50
51
Lumber and wood products
Logging sawmills and planing mills
MillwoiK plywood, and related producis
Other wood producis including wood buildings and mobile
homes
37687
CI
5007
CI
72 285
30 648
29 500
12 137
514,988
271,323
123 706
119959
357,338
182,927
121,529
52 862
341,272
180 253
109.643
51.376
24550413
10,524 812
8,584,313
5 441.288
10442769
4,955 629
3,461.743
2.025.397
13 897 893
6 266 837
5 176641
2454415
I 066 859
460 383
411 652
194,824
52
53
54
55
Furniluie and lixtures
Paper and allied products
Pulp paper and board mills
3,378
137647
54,849
82 798
9 702
102 983
54,601
48 382
169164
1 156 958
572,275
584,683
62.671
643.679
317.164
326 515
59 986
640253
316.854
323 399
5 420579
25 333.043
13951.048
11,381,995
2 677.023
13 245 581
6973.162
6272419
2 415 824
20,171 919
11,891,484
8.280,435
189,553
1,220,740
664.491
556.249
56
57
58
59
60
Printing and publishing
Newspapers
Periodicals
Books, greeting caids, and miscellaneous publishing
Commeicial and other printing and printing trade senrices
52 548
20 663
16 779
14,133
973
60,998
24,265
5,341
7,972
23,420
1015.639
471,200
89 691
190.812
263936
607,538
249 1 76
125770
109 265
123327
591.849
247 800
124 284
107307
112.458
25,976,115
9,503 996
3,033,384
6,639 008
6,799,727
13.041 784
5749 191
1 305.690
2,704.516
3 282.387
12 985,239
5,298 735
1,272 521
1 744 917
4669,066
990.097
385.279
88.651
149.381
366.786
61
62
63
64
65
66
Chemicals and allied pioducls
Industrial chemicals plastics materials and synthetics
Drugs
Soap, cleaners and toilet goods
Paints and allied producis
Agricultuial and olhei chemical pioducls
776 660
373369
211 285
107 201
1979
92 826
278,440
184,773
27 761
15 305
3 646
46 955
3 151906
1483 170
768.968
402 826
86337
410 605
2,622799
1 160,026
839 078
404 748
51 861
167 086
2619656
1 159 449
838 978
403 760
51 751
165 718
75.593 155
39.225.285
16.838 601
7721.898
2 033 904
9 773 467
39 497 572
20.135.683
9.535,572
4 539 513
1 035863
4 250 941
50 036 4 76
33 661830
6,569 871
2916109
932 978
5 965 688
3338.069
2 240.977
431.833
215.176
65.983
394.100
67
68
69
Petroleum (including inteqraledl and coal products
Petroleum refining (including integrated)
Petroleum and coal producis not elsewhere classilied
4 611 646
4 609 255
CI
312 784
307 299
5 465
2113 779
2036392
77 387
3 983 128
3 952 859
30 269
3 983 071
3 952 802
30.269
157 697 231
156.210.451
1 486 780
92 534,198
81 753,517
780 681
83 234 056
82350.019
884 037
3.753.165
3.688.580
64.585
70
71
72
Rubbei and miscellaneous plastics products
flubtier products plastics lootwear hose and belting
Miscellaneous plastics producis
56 842
55,991
851
54 674
41,987
12,687
325 106
177 062
146 044
252 951
236 150
16801
247.289
231 115
16 174
16881.186
12923916
3 95- 268
7 258,838
5,629,998
1628 840
9,819554
7,315419
2 504 135
790.935
559.987
230.948
73
74
75
Leather and leather products
Leather and leather products not elsewhere classified
1575
1139
CI
3.608
2 227
1 391
99 450
68 118
31 332
69,895
61 625
8270
63.412
55,562
7 850
4.436 100
3,361.084
1.075O16
2115830
I 565 435
550395
1 380,825
1 004 458
3/6367
96.614
70.076
26 536
Fooinoles al end oi table See ickI lor Explanation ol Terms and Descnplion ol the Sample and Limilations ol the Daia
Corporation Returns/1974
15
RETURNS OF ACTIVE CORPORATIONS
Table 1.— Number of Returns, Receipts, Cost of Sales and Operations, Net Income. Tax and Credit Items, Distributions to Stockholders,
Total Assets, Net Worth, Depreciable Assets, and Depreciation Deduction, by Minor Industry— Continued
jftll Uqmes aie eslimaies based on sdmple^--money aniQuni', aie m ihuusandb ol doiidrs]
Toral income
tat arter
credits
Distributions to StOCK-
holders eicept in own
sloch
Returns
with net
income
Total
assets
Depreciable
assets
Manufacturing— Conlinued
Stone, clay and glass products
Glass p'oducls
Cement hydraulic
Concrele gypsum, and plaster products
Other nonmelallic mineral pioduCIs
Primary metal industries
Ferrous melal induslnes, miscellaneous primary melai products
NonterrouS melal industries
Fabricated melal products
Melal cans and shipping conlamers
Cutlery, hand tools and hardware screw machine
products, bolls, and similar producis
Plumbing and healing e«cept electric and warm air
Fabricaled structural melal products
Metal forgmgs and stampings
Coaling, engraving, and allied services
Ordnance and accessories except vehicles and guided
missiles
Miscellaneous Mbncated metal products
Machinery, eicepi elecincat
Farm machinery
Consirudion and related machinery
Melalwofking machinery
Speciat industry machinery
General industrial machmerv
Ollice and computing machines
Olher machinery, excepl electrical
Electrical and electronic equipment
Household appliances
Radio, television, and communication equipment
Electronic componenis and accessories
Other elecUic equipment
Molor vehicles and equipment
Transportation equipment encepl molor vehicles
Aircralt. guided missi'es and parts
Ship and boat building and repairing
Other iransporlalion equipment, e»cept molor vehicles
Instruments and related products
Scenltlic insicumenis and measuring devices walches and docks
Optical, medical and opthaimic goods
Photographic equipment and supplies
Miscellareous manulaclunnq and manulactunng not allocable
Transportation and public ulililtes
Transportation
Railroad transportation
Local and mterurban passenger transit
Trucking and warehousing
Walpr Iranspo'taiion
Transportation by air
Pipe lines. e»cept natural gas
Transportation services, not elsewhere classified
Communication
Telephone, letegraph and ottier communication ^ervid^*.
Radio and television broadcasting
Electric gas, and samlary services
Electric service-;
Gas production and distnbulion
ComtDination utility services
Waler supply and olher sanilary services
Wholesale and retail trade
Wholesale trade
Groceries and related products
Machinery, equipmeni, and supplies
Miscellaneous wholesale Irade
Molor vehicles and automotive equipment
Lumber and construction materials
Metals and minerals, e«cept petroleum and scrap
Electrical goods ....
Hardware pfumbmg, and heatmq Paoipmen*
Other durablf goods
Paper and pape^ p'oducis
O'ugs. chemicals, and allied products
Apparel, piece goods, and notion',
Farmproduci 'aw materials
Pelfoleum and petroleum products
Alcoholic beverages
Miscellaneous nondurable goods, wholesale trade not allocable
74.758
38 986
CI
n
371 719
179 756
191,961
26 302
24 049
6 96?
83/546
5 292
114.806
12 744
37 540
30.640
616,779
19.748
275 62
25 540
119.943
40,960
89 IB
404 029
28615
23 123
'26??4
14 IBS
29.514
(•)
25 411
95.829
45 850
3 628
f)
11 016
19819
5.933
CI
3,943
31,384
CI
15,559
18,595
C)
17 680
285,976
1087
12 204
75 194
26065
273.407
182 405
91002
16 062
It 162
19,086
9.973
3 061
15 544
174 587
11,709
43 973
16 403
10 630
12,015
62,992
16,865
129 469
8 576
15 469
28.625
76 799
114 698
59 966
46,084
3694
to, 188
33,105
/,973
8,538
16,594
19,902
1.112,013
360 559
174 692
3 758
85,827
24,491
59265
8 388
4 138
466 338
45t 750
14,588
285 116
102 764
113,005
57 841
11 506
394.7S8
165 599
18,560
32,527
114512
6.963
5.205
12,236
4 545
3 966
16 550
I 738
5,735
1,508
20 410
17 668
4 364
13 624
368 666
113 526
37 432
103 539
114 169
2062 167
1,579,042
483 125
368.531
149.190
42 023
307 931
2 413,875
152,163
439 59
193 39
158 163
216 245
1,068,823
185499
1 162 424
115,015
97 893
311688
637 828
773.266
512 263
387 825
72.078
52 360
667,499
146 043
176 86
344,589
306 693
3.511.051
I 017,441
223.573
18,895
376.869
162 585
84,762
102,353
48.404
1.246,120
994 879
261,241
I 247 490
443 497
618 906
142.862
42 223
7,531.646
4 689,339
358.689
866,669
3,463,981
239.658
151.788
515809
247.341
247 139
601 554
98,607
216.670
109,742
278.940
291,716
155.760
309 257
385 903
146 023
58.821
91,769
89 100
1 177 160
732,004
446 156
545 404
102.049
128,725
53,372
361 4tfl
145 146
53 053
76717
87 502
1 166 347
729,574
436 773
528,759
102.049
90.752
24.70
14 842
12 2J5
CI
107.219
105 358
1831.212
1 756 159
61189
6126^
353,535
348 76C
73,70'!
71 77:
104 795
9588C
MJ391
121 715
997366
986,75;
95,932
70,014
1,235613
1,143,517
198,859
141 467
323 501
29636?
121.153
117086
592 100
588 595
1 693,864
1 608,639
361 659
359 582
302 894
301.846
21051
20,945
37,714
36 791
517 130
485 279
94 006
62 255
61 711
81 711
341413
341 313
119 970
118 172
8.323.023
6.771.550
1,076 620
1,016,309
513.164
509,282
13459
12474
189,701
173.190
91,742
89264
80,979
59 804
106,465
106,465
81,110
65 830
2 658293
2 627 191
2533,547
2 502 795
124 746
124 396
4,588110
3 128 050
3011 316
1 211 333
904 013
795 722
1614,116
1090,073
58,665
30,922
4.378,033
4,211,607
2 638 408
2566 936
127 971
125 738
551 774
544,923
1 958,663
1.896,275
180,450
177 082
207,770
187 634
149,229
147.975
136,733
132,831
60.510
59 871
265 582
247403
72812
72 470
338,683
336,066
31,793
31320
182 307
174.910
86 666
83.945
45,284
45 070
200 824
199 498
2^,189418
6897362
3,063 985
6 453 629
6,774 442
76 686 119
41662.448
35 022,67
35 586 00
4,733 235
6.518339
3,648,728
9.853,487
3.682.576
1.098 99
86 263 8
6 436 389
16 139.288
6.272,648
6.726 851
9 629 449
334169
7 633 448
73 161 411
7,106,036
17.000.534
19 815 932
29 237 916
76.804,043
31,067.561
24,090,309
3836.399
3 140,653
17427013
7 962 973
4 049.776
5 414,264
13 223 793
414.691,198
100,766,478
41,044.195
1,276,546
20,054,57)
8.119.206
19,287.678
3,260 117
7,725,165
115,654 44
108,736.340
6.918,10
198 270.279
62027 415
47 393 428
63.504,566
5.344,860
313.305,334
159.566 514
13,080.996
25.908 1 73
120,577.346
11.200.281
6,017.338
8.542,401
6.489,181
6 718,806
■9 345 043
2 593 567
14.082.758
4,312.886
12 452 776
1 1 075 784
3 932 585
11 813 939
11,319,639
3.714.719
1,471 336
2,977.282
3,156,302
35 863 585
21,401.541
14462 044
3,007,178
1 729,982
4 256.152
1.725.478
439721
346.722
2,928 519
39 989276
2.31889
7.352,789
3,065,630
2929 788
4.603,167
16.404.
3.314,
25 893.888
2,998
5,318,501
7,498 249
10 078.855
29.737.456
11.354,587
8679,107
1,572.446
1.103.035
10,169 043
4,045.571
2 374 689
3,748,776
5.538,243
163,290,574
36.722,760
17 116.701
499 553
7.961,299
2,769 391
5,853.475
601,362
1.730,979
50,618.260
47.680.099
2,938.161
75,949.564
31 656 179
16,505 607
25 906 999
l.f
0,869
61,117,397
4.312,794
tO.162.778
46,641.825
3,843,228
2.430386
2,949340
3391,401
2 949 757
5619631
1.091,978
8.985.841
1,531.028
3,990 563
4,120475
1.619,013
4 119 284
1?. 590 973
5 197 065
2 885 345
5 466 100
4 042 463
55.426351
38873 025
16.553,326
17 903 452
3 103,023
4 065 243
2,182 280
695 780
35 836 464
1,599.117
6570.706
3.341.618
2 526647
3,585,762
14,453.023
3.760,581
26 638 267
2 645.66
5,267.877
5.979 308
12 745 395
32 708 645
13,478.612
10 765 660
967,510
1 745 342
8 326,873
3 082651
1 541 886
3,704,336
4.396 1 1 7
407.914.597
97,237,235
39.083.529
1 166,146
15 343.555
5,208.104
16,891,147
3 232 782
4.311,972
113.212,883
109,912,745
3 300.138
207.464.4 79
86,565 109
45 141 152
68.921,587
4 836 631
89.782,155
33.038,626
4,082,311
5,061 783
23,894,532
1,771 159
1.606.768
1 183 702
1050 431
1 146.965
2,674 804
485,768
2,634.785
466,115
3.865.930
3,538,759
636,674
2 730.682
Footnotes at end of table See lexl lor *E«planalion of Terms" and "Description oi the Sample and Liniilalions of the Data
16
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 1.— Number of Returns, Receipts, Cost of Sales and Operations, Net Income, Tax and Credit Items, Distributions to Stockholders,
Total Assets, Net Worth, Depreciable Assets, and Depreciation Deduction, by Minor Industry — Continued
[All Iigu
res art- eslimale
5 based on sam
Dies— fnoney amounls ate m thousa
nds ol dollaisl
Distributions to stock-
holders ekcepl in own
Minor induslry
Foreign
tai credit
Investment
credit
Total income
lai after
credrts
stock
Total
assets
Net worth
Depreciable
assets
Depreciation
deductions
All
returns
Returns
with net
income
Wholesale and relall trade— Continued
(111
(12)
(13)
(14)
(151
(161
(171
(181
(191
151
Rolait Itadp
102 191
229 009
2 641 730
1,739511
1 644 557
153,646611
56 427 180
56,703,712
4.930,129
1«
Building materials garden supplies and mobile home dealers
(■)
10 274
235.594
91 115
88 291
10410541
4 453,172
3.139.447
283.424
153
Building materials dealers
(■)
7417
175768
74 946
72861
6 953 606
3 241 350
2168.364
193738
tia
Hardware Stores
—
1,296
32,590
9 624
9.555
1531203
770 505
382,662
31376
i«
Garden supplies and molDile tiome dealers
—
1 561
27,236
6,545
5,855
1 925 732
441 317
588.421
58-310
156
Genera! merctiandise stores
66 211
63875
649442
753 654
735,255
47 259 769
17353 114
15.727.697
1 115.344
157
Food slores
1,288
65,154
428652
269 654
265 632
17 750 821
7 116,692
10,408.255
939.315
158
Automoitve dealers and service stations
(•)
17942
392,440
132 787
114.980
37 592,534
7.750,563
6.836.877
733.708
159
Motor wehicle dealers
n
8533
199 885
86 654
70 164
30 762 465
5 439 749
4 511.025
528.131
160
Gasoline service stations
f)
6017
131.579
35 981
25.926
2860816
1.073159
1.302,001
106.161
161
Oiner aulomoi've dealers
n
3 392
60 976
20 152
18990
3969,233
1237 655
1 023,851
99.416
162
Apparel and accessory stores
(•)
9,215
341042
74,843
72,840
9246,105
4.300.105
2 525,865
227.866
163
Furnilure and tiome lutnisttings slores
(■)
3852
143669
41,615
39.346
8,691,643
3,423919
1.648,632
178.565
164
Ealing and drinking places
CI
30 783
244231
147807
145.676
12,055 330
3 729 770
9 172,155
775.754
165
Miscellaneous relail stores
2 760
27.914
506 640
228.036
182 535
20 639 649
8 299 845
7 044 784
676.153
166
Drug stores and proprietary stores
(■)
5 889
117311
■ 56.069
47 030
4 934 728
2 068 239
1.517500
130-290
167
Liquor stores
—
982
21.904
15,850
13430
1.396 766
570,999
433,000
38.781
166
Oilier retail slores
2,122
21043
367 425
156 117
122.075
14.308.354
5,660 617
5.094 284
507.082
169
Wholesale and relail tiade not allocable
-
C)
CI
CI
CI
92.209
34 492
39.817
2S20
170
Finance. Insurance, and real estate
702,7S3
161.083
4.706.209
8.661.214
7,311.126
2,176.652.153
253.147.512
104.139,976
6.423.469
171
Banhinq
520970
94 390
963 165
2 590 453
2045109
1.176 558 767
79 380576
20 145,743
2 191419
172
Mutual savings banks
353
2 099
88 102
—
-
107 100616
6,062,101
t 119375
62 911
173
Bank holding companies
312.871
56 472
197456
1 549.080
1,231012
615 029 465
40219,026
10 544 430
1327810
174
Banks eicept mutual savings banks and bank holding
companies
207746
35 819
677 607
1041 373
814097
454428.486
33 079,449
8 481938
800.698
175
Credit agencies other than banks
26 045
17 073
756.474
484 187
417667
386 198 761
22.918.614
8 611,754
612.291
176
Savings and loan associations
197
8413
423 342
124137
120 930
380 894,568
9.606.499
4 748 439
216.625
177
Personal credit institutions
ft
6 296
56.783
128.615
105716
18 464 414
3 770.857
<\fa22i
149.732
178
Business credit institutions
6,233
1 163
126.746
63 718
62 521
16,95986')
2.319.280
1,231508
142.112
179
Other credit agencies tmance nol allocable
2,663
1 201
151603
167 717
128 500
67 859 910
7 331 978
1,513,586
103.822
180
Secunly, commodity brokers and services
1,833
3220
117.012
75.095
53,089
24,986454
3.597 281
509 386
62.735
181
Security brokers and dealers
1 669
2476
97,631
64.459
43,140
32,613,316
3 010 457
358 642
49838
182
Commodity contracts brokers and dealers secunly and
commodity exchanges and allied sen^ices
n
744
29 381
10,636
9 949
2373,238
586 824
150 744
12.697
183
Insurance
113910
23758
1919,697
1 309 999
980,630
378,024,315
50 695.059
7423.694
923.81 1
184
Lile insurance
100575
16,568
1 767 863
641 110
605 044
269 432 373
19 586 725
2,459149
379.623
185
Mutual insurance, e«cept lile or manne and certain lire
or Hood insurance companies'
624
5079
694J6
—
—
22 162074
5,994,589
552 093
72.596
186
Other insurance companies
12711
2111
81388
668.889
375576
86 429 868
35 113,745
4 412 452
471.392
187
Insurance agents, brokers, and sen/ice
5.264
2.687
140776
95,589
91,118
7,235,698
3,060.014
926,053
102.606
188
Real estate
1 496
16 803
638851
565,415
493,009
102,053,640
21 753 269
62 149 355
2.375.939
189
Real estate operalors and lessors of buildings
835
8 953
440 181
381,346
322 419
64 823.810
15765,366
54,337,016
t.974.518
190
Lessors ol mining, oil. and similar property
CI
417
25,113
29,024
29,024
734618
354.616
240,947
11.401
191
Lessors ol railroad property, and ol real propedy nol
elsewhere classified
C)
1.246
23,983
15,768
15.095
1.950.330
794 035
966.196
44.379
192
Stibdividers and developers
C)
4.218
87,601
71.885
64 lie
25.401.112
3.096 298
4.088.642
191.503
193
Olhet real estate
CI
1,970
61,973
67.372
62.353
9.143.570
1.742974
2.516.554
154.138
194
Holding and other investment companies e»cept bank
holding companies
33,265
3,152
169 234
3,540476
3,230 514
101,594,518
72742.679
4 473-991
154 668
195
Regulated investment companies
—
CI
CI
2 422.692
2,330 209
55,009,850
52 406508
113.177
132
196
Real estate investment trusts
—
CI
155
344 353
166 492
19843919
4460.464
2,531.204
62.383
197
Small business investment companies
—
CI
739
3 591
CI
439,703
139 759
8.679
627
198
Olher holding and inveslmeni companies eicepl bank
holding companies
33 265
3 153
168 326
769,840
711680
36,301 046
15735 948
1.820,931
91 526
19?
Services
S7.96t
161.092
1.201.989
826.292
736,367
84.979.6BI
25.225.027
56.433.311
6,160,689
200
Hotels and olhet lodging places
CI
9 126
75 148
99 536
72.385
13,763,784
2,851 088
11.226144
644.092
201
Personal services
1 951
10 929
114,906
67,697
65166
4937 054
3,184,635
3 880 769
378.614
202
Business services
21 683
47.273
401,667
268,293
237,392
26,013120
7 733 487
13.382.154
1.753.378
203
Advedismg
11 726
2857
80,191
40,950
38,880
3 263 078
964,962
945.593
84.435
204
Business services, eicept advertising ;
9957
44.416
321,476
227 443
198,512
22,750,042
6 768 525
12,436.562
1.668.943
205
Auto repait. miscellaneous repair services
CI
22,496
109 440
52,130
43.437
9.612 488
3,315,891
8.862457
1.665.947
206
Auto repair and services
CI
20 161
78,705
38,451
30.206
8 584 993
1.815143
8.381.272
1.606.972
207
Miscellaneous repair services
2 335
30735
13,679
13,231
1.027,495
400748
481.185
58.975
208
Amusemenl and recreation services
40,052
44.690
223 567
164,739
179 677
15.582,966
5 106.869
10122.661
1.037.955
209
Motion picture production, distribulton. and senrices
37,846
29.739
43,966
41,526
41,447
5 765,825
1.680.968
1.892.047
479.658
210
Motion picture theaters
C)
2.886
27,272
36915
35.092
1,851,059
641068
1.413.545
94.549
211
Amusement and recreation services, except motion pictures
C)
12 065
152 329
106 298
103 138
7,965 982
2.784 833
6,917.069
463.746
212
Other services
3,059
26 578
277.261
153 897
138310
16 080 369
5.133 057
8,959.126
680.703
213
Offices of physicians, including osleopathic physicians
CI
5 394
44691
12631
12268
1302,139
624.158
1.049065
127.616
214
Offices of demists
CI
1.063
751S
5 327
5,153
366.510
163.460
309,597
37.068
215
Nursing and personal care lacililies
CI
2726
31606
27918
27,819
3353,902
566.867
2,688,001
128.957
216
Medical laboratories
CI
352
8 852
CI
C)
312.801
167228
127816
13.837
217
Other medical services
CI
6 662
33,608
13.083
12800
3.420615
1.092 598
2,027.876
120.285
218
Legal services
Educational sen/ices
_
125-
4807
6 407
6407
342888
131270
183,488
25.629
219
CI
406
11 233
CI
C)
872.423
270 049
456 866
45.902
220
Misceflaneous servrces. not elsewhere classilied
2527
6,718
134 743
84.097
69,729
6,109 091
2 117 437
3 116417
181409
221
Nature ot business not atlocable
CI
522
8,741
6.718
6,71!
584.443
257.241
214.146
19.791
Foolnotes al end ot table See lexl tor "Bnplanalion ol Terms ' and Description ol ihe Sample and Limilalions o! ihe Data
Corporation Returns/ 1974
17
RETURNS OF ACTIVE CORPORATIONS
Table 1.— Number of Returns, Receipts, Cost of Sales and Operations, Net Income, Tax and Credit Items, Distributions to Stockholders,
Total Assets, Net Worth, Depreciable Assets, and Depreciation Deduction, by Minor Industry— Continued
(All (iqures are estimates Based on samplfS-money amounls are m ItiousanOs ol dollars)
Minor industry
C(>etficienl of variation (percent)
Total
number ol
returns
Total
receipts
Net income
Oelicit
Total
Income
lai
Distribu-
tions to
slocli-
hotders
except
Total
assets
Depreciation
deduction
in own
sloch
Tolal returns of active corporalions
(20)
1211
(221
(231
1241
1251
1261
1271
t
0,2
0.1
0,1
0.5
0 1
0.2
l-l
1.9
0.1
2
Agriculture, forestry an" Iishing
■35
3 1
33
4 1
38
82
28
31
65
3
4
Agricultural pfOdL'Clion
Agncultuial servicos, loreslry. and fishing
3 9
74
36
63
37
61
43
126
4 1
93
85
24 2
20
48
5
Mining
6.4
05
O.t
4 1
0.1
03
0.5
1.2
6
7
B
9
Uelal minirtg
Iron oies
Copper lead and unc. gold and silvor ores
Olticf melal mining
23?
43 1
36 5
44 8
0/
1 f>
0 ?
63
09
22
0 2
1 )
5 1
09
39 5
129
09
08
02
CI
05
CI
CI
(1
06
1 1
05
54
10
12
1 3
45
10
t1
12
13
Coal mining
Oil and gas exlraclion
Crude pelrolcum natural ga% and natural gas liquids
Oil and gas field services
^2i
92
128
21
05
02
4 1
16
01
01
26
185
55
69
91
15
01
CI
24
47
02
02
54
07
07
16
27
1 8
1 B
30
14
15
16
Nonmetatlic minerals except fuels
Dimension crushed and broken slonc sand and giavei
Olher nonmeiallic mincols. e«cepl luels
124
130
34 1
30
46
23
25
63
09
136
143
32 1
21
56
09
64
140
03
21
40
\2
36
52
25
17
Construction
2.0
1.3
1.6
2.5
1.7
52
OS
1.5
18
19
20
General Ouiiding contracIO'S and operalive builders . . -
General buWinq conlratlors
Operative builders
32
33
11 y
20
2 1
61
2!
28
10 5
3 1
34
77
29
30
142
91
64
39 9
12
12
3 5
25
26
70
21
22
23
24
25
Heavy conslruclion conlfaclor^
Special Iraur; cor.liactOfs
Plumbing healmg. and air condilionrng
Eleclrical work
Olher special trade contraclois and contractors not allocable
62
29
60
7 t
39
21
23
43
51
32
27
29
57
69
40
55
55
116
12 0
73
28
33
6 1
73
46
45
98
219
20 0
130
15
1 9
38
4 1
25
26
2,9
50
59
39
26
Manufacturing
1.7
0.2
0.2
12
02
0.2
0.1
0.2
27
28
29
30
31
32
Food and kindred ptoducis
Meal procucis
Dairy products
Preserved Iruils and vegetables
Gram mill producis
Bakery producis
58
14 3
16 0
158
16 0
19 7
OS
22
23
16
20
3 3
08
26
14
15
1 3
36
30
45
16 4
150
27 1
122
07
24
1 t
13
08
35
08
20
44
08
1 1
25
05
1 4
13
09
12
24
to
2 1
18
21
35
33
34
35
36
37
Sugar and v.cnfectionery products
Malt liquors and malt
Alcoholic beverages e«cepl mall liquors and mall
Botllod soil dnnhs, and Mavo'ings
Other food and kindred products
25 4
12 7
170
130
14 5
19
07
13
28
20
09
05
09
18
47
56
02
42
19 2
82
07
05
to
1 4
43
06
02
03
24
1 1
1 3
04
09
1 7
24
26
04
1 4
26
57
38
39
40
41
42
Tobacco manjfaciures .
Te«tile null products
Weaving mill, and textile limshtng
Knill.ng m,;is
Other ie.lile mill proOuClS
40 6
94
195
16 2
132
to
1 4
12
44
29
01
1 4
1 0
57
33
I'l
38
6 1
86
51
01
1 2
07
50
32
11
2b
02
150
76
02
12
09
12
23
06
12
10
44
26
43
44
45
46
47
Apparel and other te>tile ptoducis
Men s and boys clothing
Women s and children s clothing
Olher apparel ar.d accessones
Miscellantous fabncaled texlile pioduds. leKlile products not
elsewhere classified
64
K2
91
19 0
14 6
23
3J
3 5
94
66
25
38
36
99
77
62
92
99
30 9
20 5
24
34
35
10 4
80
60
62
106
13 4
155
24
27
77
59
92
74
48
49
50
51
Lumt>er ana wood producis
Logging sawmills, ana planing mills
Millwork plywood and related products
Diner wooti products including wood buildings <i'.d mobile homes
70
11 8
135
112
19
21
39
36
13
1 4
25
4 3
43
too
68
63
13
16
2e
40
1 9
24
26
81
10
I 1
21
21
24
28
52
33
52
53
54
55
Furniture and futures
Paper and allied products
Pulp paper and board mills
other paper producis .
100
11 1
370
116
34
09
06
16
31
06
03
1 2
12 1
15 0
20 1
204
29
06
03
1 1
39
07
01
1 4
27
05
04
1 1
36
06
04
12
56
57
58
59
60
Pnnling and publishing
Newspapers
Books, grcoling cards, and miscellaneous publishing
Commercial and Other prinhng and pr.niing trade srrvices
52
11 5
15
24
35
28
31
1 1
IS
30
27
27
6,0
tse
12 3
71
130
10
13
25
24
4 I
89
29
1 1
89
09
12
22
15
25
15
1 9
35
21
33
61
6^
63
64
65
66
ChemicaU and alited [jroducis
Industrial chemicals piasics male'ials anc^ synlhetujs
Drugs ... ...
5c3p cie&rcis and toiifl gaoJs
i-'ai'iis arc allied prc-Jjcts
AgriLoItjral 8^:0 Olhe- thCTliCat p.i,-di,cU
?4 2
04
05
05
09
4 1
20
03
03
03
06
51
1 3
73
124
82
18?
23 7
186
03
03
03
04
4 9
04
03
02
0 5
160
33
02
02
04
08
36
10
03
02
05
12
36
1 4
67
66
69
Petroleum (including integrated.' and coal products
=elroleum reti'.i"g in.Lludir.g ir:if*gfaTedJ
f'i'iioieum and C03 prooucb. .lot cisewhee c^assiiied
19 7
10 5
•■1' 1
0 1
01
50
0 1
1)
44
3 1
1 3
(1
U 1
(1
43
01
59
11
1 1
34
01
01
75
A)
71
72
-I'-ttjPf anil misceranecus plastics pf0di.;ls
Hubber prctjcK plastics loolwear. how a^(^ belimq
Miscilianeoi-s plastics p:&du.-,ls
8?
WD
9/
1 5
09
44
21
1 7
46
10 5
20 9
12 0
19
15
45
13
07
16 1
1 0
06
37
07
47
73
74
75
Le-,!h';f and kalhv products
Footwear e»cocl rubber
Leather and lealticr producis. ncl elsewhere clj'.s-ln.'J
■■,6
t;4
31
23
86
34
32
78
6 0
42
21 1
33
33
75
20
08
156
23
18
78
33
25
10 1
Foolnotesal endol Idble SccJOkI lor E«planalion of Tc-rms and Crsi.'i|Jtion ol Itiu Sampic tirtt
rutaliur'. ol ttiG Dais
18
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 1. — Number of Returns, Receipts, Cost of Sales and Operations, Net Income, Tax and Credit Items, Distributions to Stockholders,
Total Assets, Net Worth, Depreciable Assets, and Depreciation Deduction, by Minor Industry — Continued
i.'d on samples— monev arriounls afe in ihoi
Coelticient of variation (perceni)
Distribu-
tions to
Minor industry
Total
number of
returns
Total
receipts
Net income
Deficit
Total
income
lai
stock-
holders
eicept
in own
stock
Total
assets
Depreciation
deduction
Manufacturing— Continued
120)
(21)
(22)
(23,
(24)
(25)
126)
I2?l
76
Slone ciay. and glass ptortucis
7 7
16
35
68
1 4
12
1 1
15
77
Glass pfoducls
29 8
I 3
1 J
118
1 1
06
07
06
78
Cement, hydraulic
26 3
10
1 9
(1
1 9
06
05
07
79
Concfele gypsum, and plaslet producis
96
33
4 i
62
4 1
33
22
33
80
Olfier nonmelalhc mineial pfoducis
14 1
40
49
168
26
39
32
38
81
Primary melal mdusifies
98
o.t
0 4
115
04
03
02
03
82
Fe'fous melal mdusl'ies misceManeous primary melal producis
143
04
04
178
04
05
03
03
8:1
Nonlerrcius melal industries
134
09
09
150
10
05
03
06
8d
Fapncaled metal producis
48
20
19
65
2CI
20
13
15
85
Metal cans and shipping conlameis
30 0
1 4
09
(■)
08
OS
09
10
86
Cutlery hand lools, and hardware screw machine producis bolls and
Simitar products
134
26
25
22 A
23
22
19
30
87
Plumhing and heating, except eleclnc and warm air
20 3
15 1
159
20 6
164
46
94
93
88
FaPricaied sUuclurat melal ptoducis
?9
25
25
104
25
62
20
25
89
Melal lorgings and slampmgs
137
42
45
158
45
73
33
43
90
Coaling engraving and allied services
177
74
92
47 9
91
Be
64
129
91
Ordnance and accessories excepl vehicles and guided missiles
49 t
79
17 7
CI
177
19 6
40
57
92
Miscellaneous lapricaled melai products
95
3 1
27
14 4
24
24
36
93
Machinery, eicepi eleci'ical
49
06
05
3 7
05
04
04
05
94
Farm machinery
18 1
22
28
26 8
26
32
12
23
95
Conslruclion and reialed machinery
149
1 1
1 1
15 1
1 0
1 1
07
07
96
Melalworh-ng machinery
93
34
35
163
35
43
25
4.0
97
Special industry machinery
14 1
23
30
12 7
29
21
1 7
22
98
General induslnal machinery
145
1 6
23
139
22
26
1 1
17
99
Otiice and compulmg machines
29 4
04
02
29
01
0 I
02
02
100
Olher machinery e<cepl electrical
66
25
39
75
35
33
20
33
101
Electncal and electronic eqiiipment
77
05
07
35
Of,
07
03
03
102
Household appliances
22 1
08
0 7
25
07
03
06
06
103
Radio television and commumcalion equipment
186
08
1 4
52
1 5
08
04
04
104
Eleclronic components and accessories
126
1 1
21
58
1 7
59
06
10
105
Olher eleclnc equipment
119
08
09
11.9
08
05
05
05
106
Motor vehicles and equipmem
14 0
02
04
28
04
02
01
02
107
Transportation equipment c-.cepi motor vehicles
132
06
08
70
08
02
04
05
108
Aircrall, guided missiles and parts
23 7
04
06
52
0 7
C 1
03
04
109
Ship and boal buildmg and repairing
21 ■
32
40
13 7
36
13
16
4 2
110
Olher Iransponalion equipmenl. encept mclor vehicles
22 3
4 1
35
153
32
1 5
20
1.6
111
Insiromenls and related producis
110
1 1
09
70
08
1 0
07
08
112
ScientiliC insiruments and measuring devices walches and clocks
173
1 5
28
72
25
27
10
09
113
Optical medical, and opthaimic goods
15 f
31
It
186
21
53
2 1
31
114
Photographic equipment and supplies
36 5
1 3
06
11 7
05
04
0 9
10
115
Miscellaneous marulactunng and manulactunng nol allOfdbif
76
22
23
2 2
38
15
23
1 16
Transoortatiofi and public utilities . - ■ - . ■ ■
3.1
O.S
0.4
1.3
0.3
03
0 1
0.2
11'
Transporlation
36
1 1
1 C
20
09
04
0'
118
Railroad iraiisporlalion , , ,
36 9
01
07
03
n /
06
01
02
119
Local and mieru'ban passenger transit
102
112
110
161
120
153
7 0
9S
120
Tiuckmg and warehoustncj
49
21
21
6,3
20
50
13
20
121
Water transportation
11 4
27
30
to 2
32
4 1
15
30
122
Transporialion by air
138
1 1
15
49
1 1
25
04
07
123
Pipe lines except nalurai gas
46 3
1 2
? 1
CI
1 1
48
09
1 5
124
Transporialion services not elsewheie classilied
97
75
75
96
'5
6 1
24
24
125
Communication
84
03
04
61
03
02
02
02
126
Telephone telegraph and olher commumcalion sen/ices
138
02
0 3
52
02
02
01
01
127
Fladio and lelevision broadcasting
106
20
1 9
1 1 4
1 6
20
18
28
128
Electric, gas. and samiary sen/ices
95
03
04
07
03
04
01
02
129
Eleclnc services
190
06
0.2
02
01
0!
1 1
01
130
Gas production and dislnbulion
21 t
04
05
26
oa
01
02
02
131
Combination ulilily services
B 1
03
04
11
04
0 1
l-l
0 1
132
Water supply and Other sanitary services
no
4 4
73
98
69
29 9
19
46
133
134
Whnlscalp and f Plail ttsde
0.9
0.4
0.5
1.4
0.5
1,3
0.3
0.6
Wholesale Irade
1 6
07
06
23
07
1 4
05
10
135
Gfocenes and related producis
56
23
27
72
27
88
1 9
30
136
Machinery, equipment and supplies
37
1 7
1 4
85
1 9
36
1 5
31
137
Miscellaneous wholesale trade
20
07
07
24
09
1 6
05
I 1
138
Motor vehicles and automotive equipment
58
23
26
42
3S
36
20
45
139
Lumber and construction materials
75
4 :
42
1?£
S2
69
30
52
MO
Metals and minerals excepi peiroieum and scrap
112
25
1 6
'63
3 7
26
36
141
Elecirical goods
69
23
25
60
36
54
22
40
142
Hardware, plumbing, and heating equipment
69
32
3 ■
122
49
93
29
4 1
143
Olher durable goods
49
1 6
2 1
i3
25
52
1 4
3 1
144
Paper and paper otoducls
12 3
48
35
33?
60
48
40
58
145
Drugs, chemicals and allied products
94
20
■ 3
:32
22
26
10
27
146
Apparel, piece goods and notions
6 1
45
46
P 1
5 1
105
37
65
147
Farmproduci raw materials
77
2 1
2 0
11 8
24
47
15
31
148
149
Petroleum and petroleum products
Alcoholic beverages
70
109
23
4 7
2<
26
49
j4
22 1
27
4 7
82
104
16
37
34
64
150
Miscellaneous nondurable goods, wholesale trade nol allocatile
60
*■ '
104
30
62
1 3
34
Footnotes at end 01 table See text (or Explanation of Terms' and ' Descnplion ol the Sample and Limitations ol the Data
Corporation Returns/1974
19
RETURNS OF ACTIVE CORPORATIONS
Table 1.— Number of Returns, Receipts, Cost of Sales and Operations, Net Income, Tax and Credit Items, Distributions to Stockholders,
Total Assets, Net Worth, Depreciable Assets, and Depreciation Deduction, by Minor Industry— Continued
jAH ligures are esiimales bas^
^oney amounis are in ItiQusands 0' dollars|
Coetlicient ol variation (percent)
Distribu-
tions 10
Minor induslr>-
Total
numbef of
ftlufns
Tola!
receipts
Net income
Deficit
Total
income
tax
slocli-
fiolders
eicept
in own
slock
Total
assets
Depreciation
deduction
Wholesale and retail IraOe— Conlmued
1201
1211
(221
(231
(241
125)
1261
(271
151
Retail irade
1 3
07
10
18
09
25
05
08
152
auilfling malenals ga'den 5i;ppiies and mobile nome dealers
45
28
37
65
4 1
10 0
25
37
153
Buildtng malenals dealers
59
33
43
138
46
11 1
30
44
154
Hardware stores
93
76
97
23 0
11 1
30 4
70
85
155
Garden supplies and mctCile nome dealers
99
72
11 2
122
13 7
32 9
58
93
156
General merchandise Slores
75
06
12
1 7
1 1
1 1
04
05
157
Food sioies
56
1 4
20
64
1 6
66
1 1
12
158
Automoiive dealers and service stations
31
1 7
24
53
25
116
1 5
25
159
Moto' vehicle dealers
36
20
30
58
34
151
16
3 1
160
Gasoline service slations
65
52
45
281
4 1
20 4
39
59
161
Other aulomoiive dealers
6<
50
70
136
78
30 0
4 1
59
162
Apparel and accessory siorcs
44
3 1
40
69
47
78
26
37
163
Furnilure and home lumis^ings sloifS
46
34
42
76
42
159
27
42
I6J
Ealing and Onnk.ng places
34
3 1
37
56
37
116
21
27
155
Miscellaneous retail slores
28
!2
30
46
25
126
1 S
26
166
Drug stores and p'OCirieiar> Slores
63
34
50
94
44
16 6
30
37
167
tiQuOr slores
87
79
10 7
20 0
10 7
36 0
73
93
166
Other retail stores
34
30
37
59
31
170
23
36
169
Wholesale and reiaii trade not aiiocatjie
40 1
31 7
24 9
11
(1
CI
23 1
34 3
170
Finance, insurance, and real estate
1.2
02
0-4
0.9
0.3
0.6
0 1
0.5
171
Banking
24
d I
02
C4
02
0 1
01
0 1
172
Mutual savings banks
05
11
O
CI
11
_
11
(1
173
Sank holding companies
34
(■)
01
02
01
1-3
CI
CI
174
Banks, except mutual savings tanks and hank rioidmg compantes
25
01
04
07
0,3
04
01
01
175
Credit agencies other Ihan banks
39
02
10
27
06
27
01
06
176
Sawmqs and loan assccialiors
26
01
02
1 7
01
08
01
01
177
Personal credit msl'tut-ons
10 9
05
26
58
17
06
08
15
178
Business credit tnsliluttons
15 1
18
1 1
110
10
09
05
1 1
179
Other credit agencies finance nol allocable
4 7
04
37
42
26
78
1/5
40
180
Secunty commodtly brokers and services
130
4 7
29
59
24
i 1
06
26
181
Secuniy brokers and dealers
159
54
37
6:
24
55
06
20
182
Commodity coniracis brokers and dealers socuniy ano commoo^v
eichanges and allied services
20 7
64
4 3
20 8
62
13 7
30
10 2
183
insurance
81
02
02
05
01
03
01
02
184
Lite insurance
CI
1)
n
(')
CI
CI
C>
11
185
Mutual insurance, except lite or marine and certain dre or Hood
insurance companies'
11
(*l
I'l
CI
C)
_
CI
11
186
Olher insurance companies
123
06
• *;
07
27
06
04
04
187
Insurance agents, brokers and service
M
^^4
40
•02
3 5
89
26
49
188
Real estate
] t
15
2 0
18
21
69
08
13
189
Real estate operators and iess.-;rs .m ii.iiirji.:^-.
19
1 7
25
26
25
93
1 1
13
190
Lessors o( mimifl •>■■ H-,d similar property
33 4
40
70
640
62
85
50
14 0
191
L'-,<;rtr , . ' ,,;,,ij<,o pijpeilv, and ol real property not elsewhere classidr-l
102
10 7
13 1
183
155
27 3
57
123
i-?;
.--..UJwxJfis and developers
45
1 7
45
26
54
135
13
29
19J
Other real estate
44
46
62
62
66
176
30
10 5
194
Holding and olher investment companies, except bank holding companies
40
10
06
37
35
10
04
26
195
Regulated investment companies
60
03
02
42
11
02
02
315
196
Real estate investment HuSts -
83
03
12
06
CI
06
03
2 1
197
Small business mves'ment companies
46 0
80
40 6
129
451
178
11 3
54
198
Other holding and investment companies excepl bank holding companies
4 1
24
24
60
35
4 7
1 4
42
199
Services
1.4
14
1.5
2.3
1,5
4.4
0,7
1.2
25
200
Hotels and othfr iMg-nq places
58
27
49
42
37
75
19
201
Personal serv^ct'
50
42
50
10 7
49
151
40
45
202
Business services
30
34
26
44
26
57
1 3
21
203
Advertising
90
10 9
4 7
212
36
12 1
49
62
204
Business services except advertising
32
25
30
45
33
63
13
22
205
Auto repair, miscellaceous repair services
44
35
51
63
55
170
22
32
206
Auto repair and se'.-ces
52
37
53
65
60
176
23
33
207
Miscellaneous rcpai services
84
85
11 5
22 6
126
415
80
99
208
Amusement and recieoiion services
49
30
30
56
27
13 1
1 6
23
209
Motion picture produ.lion distnbution, and Services
13 1
55
42
164
36
32
23
35
210
Motion pir.i'jre iheaier^
136
62
110
131
12?
30 3
46
54
211
Amusemeni and reCf?dlion services, except motion pictures
58
4 1
44
61
37
20 2
25
35
212
Other sen/ices
26
26
34
5.3
37
106
1 7
26
213
Otiices 0' physicians including osteopathic physicians
50
6 1
67
167
11 1
32 3
61
73
214
Otiices 0' deniisis
94
103
154
35 6
159
59 2
120
12 1
215
Nursing and personal ca^e lacihlies
95
63
68
149
105
20 6
42
51
216
Medical laboratories
22 6
163
212
11
212
CI
132
18 2
,'17
Other medical services
100
63
94
134
92
26 2
28
4 7
2iP
Legal services
11 5
137
181
36 6
167
60 5
124
145
219
Educdtional services
11 4
108
14 4
179
155
11
8 1
123
220
Miscellaneous services not elsewhere classified
45
J J
6 3
76
54
159
28
30
221
Naliir* of hii«inA« not allocable
18.5
16.5
IBS
125
22 4
174
91
16,8
Raiu'c V' uu3iii*aa iiwi aii\yvBMit -..- - ^ ,, ..l.,.,,, ,,,..*<a4*4..«*v....................
I'l ^isliniate IS not shown separately because ol the small number ol sample relufns on which it was based However the ddta are included m Ihn appropfiate totals
'Excludes companie? with gross income under Si 50 000 which are tax-exempl under Code section 501
■Coellicient ol variation is less than 05 but greater than zt-ro
'The small Size ot the sample vie'cled unreliable eslimales
'Estimate is based on returns sampled al a 100 percent rale and coelliCienl ol variation is zero
Credits include foreign lax, investment, and work incentive (WIN) credits
NOTE See text lor Explanation ol Terms ar^d Description o' Ihe Sample and Limitations d the Data
20
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 2.— Balance Sheets and Income Statements, by Major Industry
[All figures are eitimales based on samples— money amounts are in IhousancJs of cloltarsl
Maior
ndustfy
Mining
Hem
All
Agriculture,
industnes
lorestry.
and fishing
Total
mining
Metal
mining
Coal
mining
Ol and gas
extraction
Nonmetatlic
minerals,
except fuels
Number of returns, total
(1)
(21
HI
(41
(51
(61
(71
1,965.694
53.458
15,732
1,769
2.059
8.350
3.554
2
With net income
1.207,396
4.016,466,940
281 072 745
31.500
19.283,714
1 191 724
8.931
47,039.718
2 381681
71
9,581,534
227,766
1.556
7,570.943
706 065
5.090
23.763.874
995 564
2.214
3
TotsI 3ssels ..•■• •••■•
6.123.367
4
Cash
452 266
5
Notes and account receivable
1,029914345
1,987 953
11 123,848
743,704
1302100
8 071 793
1 006 251
6
Less Allowance lo> bab debts
31 367 517
23 714
63771
CI
6,451
38,265
18410
7
Inventoties
Investments m Governmcnl obliganons:
312096,928
1,985 683
3014 709
788701
318 727
1414558
492,723
e
tjniied Stales
125,839,713
130,453 624
56,377
63875
286 005
255960
CI
C)
61 264
93,834
145.729
52.064
50,261
9
Stale anrt )&cal
ri
10
Olhet cutreni as<;els
129,666123
522015
1,708,364
287 503
417079
810733
193,049
11
Loans to stockrioWets
7,900,362
267 496
161 059
C)
54 959
57 639
9,410
1?
Mortgage and teat estate loans
508397,657
225-587
210 906
C)
10 590
164 592
14336
13
Olher investments
570 135,397
1 607 339
7088 043
2 539 729
1037 064
2,781,611
729,639
Id
Depreciable assets
t 179 165211
10,854 246
23 688 529
4 761 746
4 670 573
9,608 821
4427,389
15
Less Accumulated depreciation . .
444332,453
4607,775
10010 12b
1 731 853
1,860.866
4,141,409
2,275,999
16
Deplctabie assets
37 076 623
13745919
123168
27078
6,426,007
2 554 844
1255 617
379 821
276,033
62 026
4,569,642
2,024,293
322,715
17
Less Accumulated depletion
68 702
18
Land
64 509 343
4 321,698
941,470
64 521
117541
212,924
546,584
19
Inlangible assets lamoftizable)
11,431279
47,432
768 201
43,793
111,240
595,386
17 780
20
Less Accumul5io(J amoHi.-alion
3 892,553
11 143
274 415
29,4 n
20 351
220 756
3,897
?l
Other a^^s'-ls
122 996 047
706,831
1 888 092
889 117
341 550
507 649
149,776
?2
?3
Total liabilities
4,016.466,940
253377045
19,283.714
1111 177
47.039.718
3 365 202
9,581,534
473,'28
7.570.943
595 180
23,763,874
1 76^746
6,123,367
Accounis payable . ....
528 548
?■!
285,844,394
3,644 152
2 324 761
213,085
617 370
1,182 483
311843
25
Other current liabililies
I 459499,079
832 890
9 624 303
46 7 824
925497
7,910,022
320,960
26
Loaris Irom stockholders
34 114,798
1 133015
592 931
64,298
97547
356 149
74,937
27
Mortgages, noles. and bonds payable in one year or more
542 093,213
5506 030
7 536 624
1822 971
1 279 000
3-099-097
1,337,556
28
425 603032
749539
2 221,043
554 552
333 262
944,336
388,993
29
CapiI.-( Mock
240 076,710
3 336,905
2 970 961
1,109,128
358 741
1,006,219
496,873
30
Paid-m 0. ^ipilal surplus /
274 124 499
1 475 805
6156 459
2 004 192
629 656
3,096 335
426 276
31
Reiairod eam.oijs app-'.pnaled
25,066 618
81 322
759,877
65,904
103 787
554,372
35,814
32
Relamed earmrii; unarpiocrn'Pd
495 624,274
1 754 338
11 872,093
2,835,458
2703 079
4-009578
2,323,978
33
Less Cost ot 'frdsijry sic-Tk
19,156 722
341 459
386 556
29 606
72 1 76
162 463
122 311
34
35
Tntsi rAf ^inl^ ......... ...............................*.**.......*.«*-.,.
3,089.701,363
2 854H19 489
25.452.628
21 182393
64.804.842
62,864,619
4,917,056
4 613 160
9.363.219
9 011027
44,857.211
43795 720
5,667,356
1 Vlnl 1 CVCI^lia .--,.,...,,.-...-.-...•••..*.....•■•...*.••*....*...■*-•...■■■.-"-•■"■■■■■-■-••--•.....»•••••-.''
Business ri^ceipls
5,444,712
Inleresl on Governmenl otiliqalinns
36
Uniled Stales
6,980 561
6,658
20,097
5,087
2,154
10 409
2,447
37
Slate and local
5 774 V:i4
3,053
9,037
CI
3,382
3710
611
36
Oltiei intnresl
128 255 576
157,870
341,276
68,109
74,339
145 948
52 880
39
Hems
20,192.446
123 660
120578
3,367
57 284
33 943
25 964
dO
Royalties
4,659 85!
36,289
199 768
7,689
7987
164 359
19.733
41
Net short term capital gam reduced by ncl ionglerm capital loss
262659
3 581
,=P^'
C)
416
1,814
Cl
42
Net long term capital gam reduced by net shorlter.-n capital loss
8 163,867
275 if C
359,464
30,141
64 8^8
232 427
32.018
43
Net gam noncapital assets
Dividends received Irom domestic corporations
6,952875
l'0 3?3
96 331
2181
20 176
50 059
25 876
44
13 792 007
25 37f.
1680.39
44 607
50372
6G,0ci.'
6,962
45
Dividends received Irom loreign corporations
7443.159
13,309
102,737
86,374
Cl
13,t10
("1
46
Otber recerpis
30 418,536
509028
517,090
53,408
68 939
336 906
55 937
47
Total deductions ■
2,941,543.997
2 068 068,555
25,029,379
18 427 009
38,926,694
22 796 306
4,518,266
3 096 430
7,912,564
5,457994
21.275.669
10 832 522
5.220,195
48
Cost ol sales and operations . .
3,409 360
49
Compensation ol olticeis
53 040 517
782 539
412 473
1 7.626
101075
199 426
104,346
50
Repairs
22 352 998
439 001
421 184
33,223
121,771
107.019
159,171
61
Bad debts
12 755 529
33,785
53,961
5.747
6977
26974
14,263
52
Rem paid on business property
37 738 188
472,086
257,725
19,862
90 267
107 457
40I3J
53
Ta%es paid -
74,705371
132 949 480
1 199 655
514 772
725 803
6,702
949306
793 072
17,873
179,499
149 524
3 745
316 641
171 426
7 294
302 744
329.488
4491
160,422
54
Interest paid ■
142,634
55
Conlnbulions or gifts .
2,343
56
824 820
3817
7897
3,711
740
2,391
1055
57
Depiecialion
78 597 669
932135
1,669 536
287 357
416034
627 458
338,687
58
Oeplelion
18 999,456
23209
7,921,018
249,096
467,784
7,0OS 455
195,683
59
Advertising
Pension, prptit-sfianng stock bonus, and annuity plans
24 640 318
67 008
33,410
1,528
3038
13 123
15,721
60
23,033,77/
78 560
212 117
56,153
47 401
66815
39749
6'
Employee benefit programs
Net loss noncapital assets
13,534 184
27 039
140 963
12474
77.515
26521
24,453
6?
1 702820
25 064
43 717
214
1C008
31,454
2,041
63
Other deduclrons
377 400,640
2,469 -350
3196,136
400 077
616 599
1,599 331
580129
64
Total receipts less total deductions
148 157 366
423 249
25,878 148
398,790
1,450,655
23,581 542
447,161
65
Constructive taxable income Irom related loreiqn corporations
3615376
Cl
34 964
CI
Cl
2,160
Cl
66
Net income (less deticil) (lin^ 64 plus 65 minus 371
145,997,806
421 163
25 904 075
428 125
1,449 355
23,580,012
446 583
67
Net income
171 166,224
1319,161
26 404 766
556,306
1,501,366
23,632 332
514,682
68
Oet-cit
25 168416
897 998
500,691
129,181
52.031
252 380
68 099
69
Income subject 10 lai
Income la< total
143982513
875 563
25,556 760
423,040
1,224,960
23,494 209
414,551
70
66112989
3-15 628
12 257 873
214 859
561.960
11,263,679
197.375
71
Normal lax sorlaK and alternative la'
65,566,637
332,626
12 206 727
197,667
571,409
11,246,094
169.557
72
Tat Irom reccmputini] prior year mveslmenl credit
179,121
2 705
3 923
194
991
1 193
1.S45
73
Ta» Irom recompiJtmo prior year *orli incentive (lA/IN) credit
446
n
(■)
CI
—
—
Cl
74
Additional lax toi lax prelcicnces
346 785
fi
47219
16,994
9560
14392
6273
75
Foreign tax credit
Investment credit
20752819
1,058
11,061,741
84 315
50-987
10,667,032
59,407
76
4 221 364
42 576
134 767
19463
43 731
36,695
34,876
77
Worli mcenlivo (WIN) credit
Dislribulions to stockholders
7 795
fl
77
CI
Cl
Ct
Cl
78
Casti and properly except own stock
49 280 658
195454
7 729 679
212721
231 179
7 171377
114 402
7C
I orf'iralion s rwn stock
2 763 94 7
ri
54 065
Cl
Cl
i'l
Cl
Footnole at ond ot lable See le»l for Enplanation of Terms'* and Descnpl'on ot Ihc Sample and Limiialions of llie Data
Corporation Returns/1974
21
RETURNS OF ACTIVE CORPORATIONS
Table 2.— Balance Sheets and Income Statements, by Major Industry— Continued
[All tigures are eslimales based on samples— money amounls are m rhousanils pi do'.iars|
1 Number of returns, total
With net income
Total assets
Casri
Notes ana accounts receivable
Less Allowance lot bad debts
Invenlories
lnveslmer>ls m Govemmertl obligations
Uniled States
Stale and local
Oinei cutrenl assets
Loans to slockholders
Mortgage and teal eslaie loans
Other inveslmetils
Depiectanir- assets
Less Accumulated aepttcialioo
Depletable assets
Less Accutnulaied deplelion
Land
iniangible assels (amortizable)
Less Accumulaled amorliiation
Other assels
Total liabilities
Accounts payable
Mortgages noies ar^d bonds payable m less than one yeat
Other current liabilities
Loans Ifom stocfcholders
Moflgages. notes and bonds payable m one year or more
Olher liabilities
Capital stock
Paid-in or capilai Surplus
Retained earnings, appropriated
Retained earnings, imapptopnated
Less Cost ol tteasury siocli
Total receipts
Business receipts
Interest on Govemmenl obligalions
United Slates
Slale and local
Other inierest
Rents
Royailies
Net sf^Oft-lerm capital gain reduced by net long-lerm
capital loss
Net longleim capital gam teduced by net shotMerm
capital loss
Nel gam noncapital assels
Oividends received trom domestic corporations
Dividends received Irom toreign corporations
Oltiet receipts
Total deductions
Cost ol sales and operations
Compensalion ol olfice/s
Repairs
Bad debts
Rent paid on business property
Taxes paid
Interest paid
Conlnbutions or gilts
Amortizalion
Depreciation
Depletion
Advertising
Pension ptotil-shanng stock bonus and annuity plans
Employee benelil progiams
Net loss, noncapital assels
Other deductions
Total receipts less loiai deductions
Constructme taxable income Irom related foreign corporations
Net income (less delicit) (line 64 plu^ 5S minus 37)
Nel income
Oelicil
Income subject to la<
IrKome la«. total
Normal lai sunai and alternative tai
Ta« Irom recomputing pnot year investment credit
Ta» from tecompulmg prior year work incentive (WIN) ctedil
Additional ta« tot tax preferences
Foreign lai credit
Investment credit
Work incenlive |WIN) credit
Distributions to stockholders
Cash and property except own stock
Corporation s own stOCk
Major industry— Continued
Construction
Total
construction
106,874
74.108.047
6 069 320
21.259 3d3
214,186
12 322 603
^246 956
649 599
698 194
5 553 293
25 22i 752
12,085 554
121 002
29.556
■3 213.992
115,044
30213
3 462,194
74.108.047
i^l.^8.5;8
1 1 338 672
8 836 920
1 996 341
11 958 549
7 559,996
4 5-^2 335
2 934,846
219,379
10,526 672
894 24
t37.024.339
Ojb.'i
23 tJ3
19387
583,512
762 2 1 4
General
building con'
tractors and
operative
tiuilders
19)
3 136
7,254
258 248
308 4
41293
52 524
1 278
135.200.572
109 462490
4,670 310
729.749
421.259
855,821
2 824 451
1 879 889
38,096
7 427
2 569 881
36 243
292 316
752 913
486,042
38661
10 114 784
1 623 767
43 837
1 848,217
3,924.712
2 076 495
2,945829
1.184,335
1,175 488
7,206
10
1 631
55,296
102,834
454,047
50.740
74.694
38.62 1
38.011.499
2717,765
9,156,442
61.977
8 151 365
138 683
4,802.209
349 091
570.206
2 858 755
8 022,495
3 059 183
20,966
3,224
2 317,921
60517
12.059
1,892.630
38.011.499
7 769,806
7 466,043
4 374.332
1.015,961
7 239 406
4 348 615
1651 36
1 469 454
54,312
2.922.235
320.032
S9.8 17.634
58 007 690
11001
8.297
355,300
518.823
Heavy con-
struction
contractors
5.193
4,622
1 38.429
124,311
10.778
22,189
610,801
59.531.494
50.732.104
1,551.444
176,313
126 921
254.650
644,545
1 060.948
13.322
2.682
703,179
6,605
139 390
202,712
108,570
i 8.292
3,587,617
286.140
23,407
301 ,250
1,381,003
1,079,753
984.769
394,327
391,899
1,493
CI
932
27,934
21.725
14.895
9.302
16.029,914
1 355,657
4,652 31
52 168
1093 120
1 084,836
77,472
66,569
1 674 746
9 889 833
5 366.604
82 608
451.567
20,361
6,571
850,493
16.029.914
2 625 331
1557 333
1 763 740
238,487
2 556 845
1437.384
1.157,519
885,203
75.599
3,781432
248,959
27.362.529
6161
6.926
130.751
150,538
4 572
2253
74 743
128,092
22,046
27.507
383 937
26.705.18
21 171,028
594,543
302,390
82,843
209 783
564,430
407 594
10.582
196
1 022 355
22 920
25 1
185,926
103,813
10.774
1,989,126
657,348
18402
668 824
1,022.384
353,560
668 342
385,410
381.060
3.731
Special
Irade
conlractors
619
23,027
49,267
109,363
15 084
20.066,634
1 995.898
7 450,587
100,04
3 078 118
76 220
46,570
1,359.91
223036
61
1.019,782
7312,424
3,659 767
17,426
3,109
444 504
34.166
11.583
719,071
20,066,634
4 513,441
2 315,296
2 698 848
74 1 ,893
2.162 298
1 773 997
1 693 4
580 169
89.468
3 823.005
325,250
49.844.176
49 243 476
5,
4 164
97 461
92853
3.371
45076
56,075
4e.%3.897
37 559,358
2 524,323
251046
211,495
391388
1415,516
411 347
14 192
2584
864 347
4.718
127,813
364,275
273.659
9,795
4 538,041
880,279
I')
878,143
1,521,325
643.182
1,092.718
404 598
402 529
1.982
Total
manufacturing
4,335
31,842
21 1.563
137,843
885,822,652
27,436 871
199,733,894
4 770.036
173,702 195
7 984.31
2.430 510
36 206,699
1913 969
2 416 990
131.557,271
460 913 499
225 934,074
27 286561
10 125 110
14 375 406
5 487 578
2 096,939
37.303,056
885.822,652
113 251 117
74 703 719
71 708 727
9 822 218
153.677.009
51,382 442
70,570 964
86 104 236
6,133 963
256 191.397
7 723.340
1.297.265,793
698 715
284 511
8 137,041
3,365.655
3,210067
65,774
4 095 080
868,516
8,279 697
6,668,615
9311.219
1,227,701,620
937 183,391
10 770,181
14,967,462
2.873,529
10 346,159
32,422 429
21 849,198
646,055
300,239
31 762 113
10 205 329
11,649 105
11.992,978
8 452 226
519,509
121.741697
69,564,173
3253,824
72 533 486
78,246,608
5 713 122
68,892,235
32 288 865
31971,630
94,035
Food and
kindred
products
359
222.641
8 379 785
2 111.709
5 336
18 706,198
1 545,652
10.468
70,519,843
2,920
14 541 920
251061
15 982 263
198 32;
246,235
2315416
246,943
132 151
10 270 967
35 84 7
16,405,290
87.645
20,401
1320 159
241.633
47 943
2,889.997
70.519.643
9 069 7?.|
6 582190
5,831 110
904,612
12,801 131
3,177,705
5 797 209
6191,116
390.146
20,520 225
745.327
158.116.869
19,288
16,160
596,925
221613
168 185
16 195
102,04
124,207
169 734
282581
958,601
152.845.480
123,456,615
842 922
1,185,769
213 525
978 795
3 837,834
1 941 664
99,061
18,572
2,628,235
23 344
2 909,050
726 891
554 981
64,467
13 363 755
5.271,389
173,290
5,428.519
6 0'7.045
648 526
5 791,051
2,736,291
2728,261
293 719
168 862
136
167,528
1.301 803
4,950 926
3,320 729
768,410
625,309
14.032,044
1 04 1 699
2,295 197
828637
(•)
2,728,965
519 621
966,761
1,809,267
D
3,684 235
i*l
13.476.604
13,068 21'
94,530
28,482
6,590
20 324
75,317
CI
124,101
12.289.400
3,270,281
28 087
99,490
12,623
224,025
1.196,598
434,531
5 456
494,652
37,482
100,913
(•)
980 164
1187 204
CI
1,202,889
1,208,275
C)
1,148,720
552 603
549 964
2,621
21 549
')
377^67
Textile mill
products
Apparel and
other textile
products
6,274
3,539
19.141.758
770,410
4 874,848
96 479
5 169.893
104,839
22 763
439,521
29,531
11291
1,367,955
096
6,467,4
12,
CI
CI
158,128
28 995
8,987
622,980
19.141.758
2.656,058
2,072,741
1,159.314
128,396
3,256,184
587,329
1 660 138
I 307,699
43,204
6,605,846
235151
31.133.971
107 205
42 409
19385
CI
r)
53,500
7445
I8I65
8,27S
35760
16,183
16,004
2 167
177 668
179 594
30,361.034
29.847,627
24 024 604
23165,514
360 465
721,588
255212
59,194
99 391
97,340
271 752
354 093
678 259
692.406
607 656
455 668
20,393
16.094
4,034
2.816
864 406
280.319
?11979
211 934
169,310
141,229
90,280
104.097
19,937
14.087
2680,491
3,529,540
772 937
' 730,645
3.951
l"l
775,607
728,988
1,217,432
1,047.499
441,825
318.511
1 146,889
921 803
539,180
415866
536709
415.297
2,321
569
n
I'l
1*)
D
6,573
4 053
41.217
11 306
167
236
233 24 7
166 688
25 760
29 784
Footnote at end ol table See text lor Explanation ol Terms and Descnptton of the Sample and Limitations ol ibe Data
22
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 2.— Balance Sheets and Income Statements, by Major Industry— Continued
[All
tiguiijs dri:- I'stimales based on samples— money amounts are m thousands of dollars
Item
Haior industry— Conlin
ued
Manulactunng— Continued
Lumber and
wood
products
Furniture
and fixtures
Paper and
allied
products
Printing and
publishing
Chemicals
and allied
products
Petroleum
(including
integrated)
and coat
products
Rubber and
miscellaneous
plastics
products
Leather and
leather
products
Stone, clay,
and glass
products
Number of rclurns lol3t .>.........>.-.«■«■«««•««««■■•*•*•*••>*•••-■
(171
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
13.508
e.o»7
J4.S50.413
1,070010
6,931
4,609
5.420.579
266.674
3.765
2.887
25.333.043
756.955
29,271
17.941
25.976.115
1497.054
9.860
6.025
75.593,155
2 046.299
1,039
612
157.597.231
2 799 434
8,109
4,969
16,881,186
596 575
2.080
1.437
4.436.100
212.616
9.563
2
Wilh net income ,
6.707
J
Total assets
22,189.418
4
Cash
779.817
5
Noles and accounts leceivabie
3.197900
1,367,002
363B569
6 186.737
14 450.659
28 996 213
4 108 772
1.129.107
3.893.384
6
Less Allowance lot bad debis
79 505
35963
88 750
485 810
279 044
302 674
70 290
25.335
1 10.950
7
(nven lories
4,153539
1 728 382
4 240 476
3 382 854
14 897 196
10 789 403
4 018 548
1 448682
3.772.179
Investmenls in Governmenl obligations
6
United Stales
69 MB
6,566
274,475
289.150
259.452
2,569,564
42254
C)
55.663
9
Slate and local
It 497
15 463
47,510
163.001
141.719
CI
59,169
CI
9.638
10
Oihe' current assets
750 68;?
143505
644 698
1.317432
2 115.546
6,778624
247 526
115 152
704458
Loans 10 stockholdeis
106,007
20 538
28.503
1 1 7,078
89.793
169,554
81897
15 229
36.658
12
Mongage and real estate loans
954 940
2,415
15351
65.884
23.464
90,471
35,357
3.986
22.585
13
Oihe' inveslments
2 651 990
315,352
2.948.336
3.280 692
12.206.464
39,225,290
1555 280
650.772
2.692.51 1
Depreciable assets
13 697 693
2415.824
20.171.919
12985239
50,036476
83234,056
9819554
1 380 825
17.590.973
15
Less Accumulated depreciation
5615021
1 060 303
9.606 114
■ 6 154 213
24599,812
39974,898
4 294 092
703 834
6.605.375
16
Deplelable asseis
2 035 554
f)
1264 027
125.734
531.314
21 588 592
(■)
C)
261.864
17
Less Accumulated depletion
69,269
(■)
268 987
C)
160.169
9,022,336
CI
C)
61.371
16
Land
540 960
86 981
728.881
617 735
1 010.359
4 460 228
176 773
34 950
523.039
19
Intangible assets (amortiiable)
37 867
27 190
46.549
529 130
491,617
1 944 695
56 763
34 990
45.396
20
Less Accumulated amorliiation
14521
6,435
19112
76 119
135.540
1 170,438
21,551
7 523
11.809
21
Other assets
850 522
143.365
509.755
2.144,656
2 467.362
5 355 037
468018
134 191
590.761
22
Total liablltties n
24,550.413
1 973,598
5.420.579
703 350
25.333,043
2.289 047
25,976,115
2 566.258
75.593.155
B 007 237
157.697,231
26 802 105
16,881,186
1 813 406
4.436,100
561 265
22,189,418
23
Accounts payable
2 148 111
24
Mongaqes. noles and bonds payable m less than one year
2.296,907
562,890
963 868
1.603373
3261.816
3,597 196
1 302 441
582 196
1.176.457
25
2.069,144
361 841
2228066
2634.138
6.563.022
8,822,349
1.944 236
287398
1.458.919
26
Loans Irom stockholders
422 022
110 976
132 736
349403
684.565
534476
185560
52440
209.800
27
Wongages. noles, and bonds payable m one year or more
5 514 867
872 908
5276 595
4.024 375
14 807 089
19 822 799
3917678
'09 524
4785.065
26
Other liabilities
1 831 106
131 591
1.177 150
1 756 784
2771854
15584 108
458827
127 447
1.091.427
29
Capital stock
Paid-tn o( capital surplus
1,807 775
666,222
2 600.248
2 190 074
6,656419
11507 262
981591
458423
2.269.097
30
2 816,236
294.417
2.331.514
1898.212
8 347 243
16050 172
1.443 346
538 735
1.991.789
31
Retained earnings appropnaled
Retained earnings, unappropriated
124 480
21.667
45 842
143.762
219467
2 217 188
42 147
49 406
165.883
32
5 970 059
1 753 252
8.520.676
9 229.045
24,976002
51676 637
5014.668
1 154812
7 231.771
33
Less Cost ot treasury stock
277 781
58 535
252.901
419.329
701 559
917,061
222,914
85 546
338 901
34
Total receipts
31.409.053
28,989.430
10.279.282
10 140 592
35.684.019
34 412 987
37.371.344
36 149 905
96,735,418
93,072 117
274.589,707
260851 782
25.071.846
24572312
7,656,141
7 506 702
27.062.389
35
Business receipts
26 399248
Interest on Government obligations
36
United Stales
S.232
817
11.088
33.492
18,343
212,155
3478
609
4,394
37
Stale and local
677
804
12 633
11.557
17,632
11,269
2 867
246
2.205
38
Other interest
290 172
21 167
156 637
232527
563,492
1 522,209
87,963
39 035
121252
39
Rents
64 783
13551
38.304
127 922
148,908
929 691
40,407
11268
49.254
40
41
Royallies
Net shorl-teim capital gam leduced by net long-tefm
capital loss
17 674
1 701
9167
1")
95.667
fl
85.528
783
564464
3,817
304,460
C)
44850
C)
2 678
C)
79.314
525
42
Nei long-term capilal gam reduced by net shon-term
capital loss
Net gam. noncapital assets
Dividends received from domestic corpofalions
1 458,828
6.487
576 935
143.074
296.122
236,251
19,608
4.227
105 370
43
84,565
10.146
20574
38.051
64.220
96,715
12,424
645
34,083
44
172361
1 760
70674
59 992
386 614
5995,566
16 204
12.761
40,441
45
Dividends received trom toreign corporations
51673
3 580
151691
57 7B5
903 702
2 868 613
85 603
CI
64 413
46
Other receipts
268 957
71 179
136 174
430 728
695 987
1 526 274
183 643
77 304
161 890
Tntstl HpHiirtmn^ .... .......................*''
30.110,223
22 032 504
9.942.696
7 401 597
32.590.639
23 635 595
35.037,666
23 358 324
86.144.087
60 450,070
255,409,767
217 231 765
24.178,351
17 241,352
7,501,786
5513176
26.028.830
48
Cost o( sales and operalions
18.154 888
49
Compensalion ol olltcefs
Repairs
Bad debts
416,441
251 715
287,737
1 091 177
648 348
182 979
373 192
118 939
426.842
50
292999
45 202
777,361
196 940
1 599 107
1,943 367
330 165
39 186
690.404
5)
81 409
38 511
56,952
298736
188,210
233259
87,020
32.955
109.008
52
Rem paid on business pfoperty
268 2t4
136,328
270 664
539.430
880 997
1,586,731
334,142
155.237
271.976
53
54
Taxes paid
Interesi paid
Conlfibulions or gills
Amoflizalion
Depreciation
765 360
265 534
871510
1.064 260
1 998 637
6 252 960
751 622
191 129
786.660
754 965
147 105
494,785
516 936
1 401 070
2 225 807
516 963
162 087
512455
55
10,697
5,022
30,923
34517
76467
72015
8,011
3.990
15.950
56
57
12,088
1 127
11,271
12 422
25 606
20 203
4,149
791
8.135
1 066 659
189 553
1,220740
990 097
3336 069
3 753 165
790,935
96 614
1 175.412
5b
59
60
Depletion
Advertising
Pension protil stiaiing slock bonus and annuity plans
Employee benelit programs
Net loss noncapital asseis
Otner deductions
1 375,580
(■)
223 786
47,550
232 881
7 447,660
1 281
CI
86.545
113,176
93559
199,934
302 242
2 801 789
274 078
255 418
82 842
147.008
137,504
61333
342,546
396,870
1 149,927
689 757
337 530
45.331
317.276
61
92,236
61,559
218.062
242,752
517 104
319 B84
189 892
31.933
246.573
62
9.308
3,565
11.512
25889
22 294
1 1 7 083
15001
3 126
9.104
63
2.660.883
1 240,513
3.935261
5,899 524
12813491
12 859 054
2 941678
1 024.441
3.068.394
64
Total receipts less total deductions
1 298 830
336 586
3093.380
2,333 678
6,591,331
19 179 940
893,495
154 355
1.033.559
65
fl
(■)
95557
31994
477 927
957 991
12618
CI
52227
66
Net income (less delicti) (line 64 plus 65 minus 27)
1 325 187
337 739
3 176 304
2354 115
9051 626
20 126,662
903246
154 762
1.083.581
67
68
Net income
Delicit
1673 249
434802
3 232 470
2683,388
9 22B 529
20 181 634
1022 624
25t 442
1.266.065
548 062
97,063
56.166
329,273
1 76 903
54,972
119 378
96680
182 484
69
70
71
Income subject to la.
Income la» lolal
Normal lax. surtai. and alternative tax
1 783 735
402 331
3 145 570
2 476 974
8 887 217
14 356 692
952 094
227.104
1 139.619
625055
182 408
1397762
1 129 344
4 207 149
7 038 220
436 770
104755
518.709
611 767
182,057
1 393 772
1 126 329
4 192 736
6,844 473
434214
104 427
511.822
72
Tax Irom recomputing pnor year investment ciedil
3538
295
2 396
2814
13,338
7,641
2 550
285
CI
C)
3.143
73
Tax Irom recomputing prior year worli incenlive ttWINt credit
CI
i'i
CI
CI
CI
(")
186 106
~
CI
3736
74
Additional tax tor lax prelerences
9 744
CI
CI
I'l
CI
CI
75
76
77
Foreign tax credit
Investment credit
37.667
3,378
137,647
52 548
776.660
4 611 646
56842
1.575
74758
72285
9,702
102,963
60 998
278,440
312 784
54,674
3.608
75194
Work incentive ItwiN) credti
95
164
174
159
143
CI
148
122
91
78
79
Distributions to slochbolders
Cash and property except own slock
Corporations Own stock
357 338
88 549
62671
C)
64? 679
20 84 1
607 538
12 734
2 622 799
107 557
3 993 128
CI
2^2 951
69 895
CI
365903
3001
Footnote at end Ol lable See teit tor Explanation ol Terms and Description ol the Sample and L
iitalions ot ihf Data
Corporation Returns/1974
23
RETURNS OF ACTIVE CORPORATIONS
Table 2.— Balance Sheets and Income Statements, by Major Industry— Continued
[All liguies afe estimales based on samples— money amounts are m ihousands o1 dollars!
Item
Major indust
y-Continued
Manutacturin
g— Continued
Primary
Fabrrcated
Machinery
Electrical
and
Motor ve-
Transportation
equipment.
Instruments
Miscellaneous
manufacturing
metal
metal
except
hrctes and
and related
and manu-
industries
products
electrical
electronic
eouipment
equipment
except motor
vehtcles
products
lacturrng
not allocable
Number 0' fetufns total ..,.,..
1261
1271
1281
1291
1301
1311
1321
1331
1
4.636
25.327
24,879
10.800
2.203
3.65 1
2.309
31.067,561
5.761
3.579
17.427,013
381 864
12,677
6,642
13,223,793
670.763
2
With nel income
3.764
18.161
18.289
6,202
1.471
3
Total assets
76,685.119
35.566.001
86,253,864
73,161,418
76.804.043
1.790 474
4
Casti
2,299 981
1.744,175
2.549939
2.254 413
1002519
5
Notes and accounts rece'vatjle
12 255 773
8,032 139
21 934.596
20 134.349
32 677 384
5 607 082
3.984 051
3 289.876
6
Less Allowance tor bao debts
205010
181 241
560341
478661
1 129 443
77 241
71,470
109239
7
Inventones
Investments in Government obtigations
12 101 137
10222678
21 219345
16 512.496
14380.854
10683.641
4 437.525
3691.819
e
United States
439 571
83 024
2 265.766
90412
899 443
60.379
137 128
90.039
9
State and local
380 345
57,014
441.818
57 987
202 608
CI
290 625
70364
10
Other current assets
3.816.293
892819
5.937413
6.006.988
1.061.806
1 276.946
620.849
377145
11
Loans to stockholders
37.483
1 19.520
142412
92073
86.605
32.474
20.056
69.959
12
Mortgage and real estate loans
37 385
39 932
30.875
35.242
77.016
358.476
17 962
425,062
13
Other investments
8 700,872
3 598 297
12 005 927
7.548,666
8567.209
4 178.958
2.340.127
1,411.860
14
Depreciable assets
55 426 351
17 903 452
35 836 454
26 638 267
32708645
13 478 512
8.328.873
4.396,117
15
Less Accumulated deprecialion
29 625712
8 718 553
18.592 769
12 174 434
18.000.442
7031.744
3.840.834
2,047904
16
Deptetable assets
1,040 203
109 106
45.903
24 659
CI
CI
CI
CI
17
Less Accumulated depletion
410900
12 836
23 907
8 652
CI
Cl
CI
CI
18
Land
862 163
633892
777 103
548 120
742.091
482216
241889
180,096
19
Intangible assets tamorlnablel
535 169
152645
403 007
366 881
75447
78 766
105 335
172 457
20
Less Accumulated amortization
90.954
53592
177.398
127 545
13 000
15.800
34,684
43 483
J1
Other assets
9 084 969
963.530
2037721
3 620 157
2.640.947
714,366
467.048
567305
22
Total Itabiltties
76,685.119
35,566.001
86,253,884
73,161,418
76,804,043
7 972 202
31,067,561
17,427.013
1.447.673
13.223,793
1475.301
?3
Accounts payable
7 574 565
4 664 528
e. 511.416
13 343 546
6,025024
24
Mortgages notes and bonds payable in less man one year
5 334 816
3 070 444
8 367 931
7 366.191
16 383 945
3.550 306
1.113.025
1 428.039
25
Other current liabilities
6 430 362
3332 149
7 604.716
6.212 731
5 118 625
4057 145
1895.334
1.730.507
26
Loans trom stockholders
213 808
535 836
3653.734
360 322
184.503
175 061
202.187
310.556
27
Mortgages notes, and bonds payable in one year or mo-e
14.983156
5.974 891
15021.135
12 995 729
15 347 814
4 506 485
2 166.414
2,300,868
28
Other liabilities
6.284 827
1 425806
2 905 676
6 969 009
2.059.498
1 398 953
433.337
440,279
29
Capital slock
7216.502
3 353 186
9 208.459
4 363 446
3 185 626
2.025.540
1.409415
1,094.264
30
Paid-in or capital surplus
6 638 223
2 613 676
8.338 026
7 965 197
5.424.723
2 677 447
3.099 103
1.394.987
31
Retained earnings appropriated
420 456
107 265
639.066
175.586
813.122
59712
63.179
18.615
32
Retained earnings unappropriated
22024806
10 984 759
22.327 694
14 295 609
20.482 003
6 887 893
5694411
3 208 623
33
less CosI ol treasury stock
438 402
496 539
523 969
905 950
168016
296.005
97 065
176 246
3-1
Total receipts . -
92.502.102
60,208.926
94.698,842
83,616.024
105,706,273
41.791,329
40.079.044
21,092,478
18.484,704
17984 191
34
Business receipts
90 065 973
59.134 318
89748666
80.754 549
102 829 051
20.312.772
Interest on Government obligations
36
United Stales
21 124
9 263
140.753
10.795
52,371
8.209
13.259
5,988
37
Stale and local
16739
2588
37 396
111 441
20.970
2295
9.889
3,300
38
Other interest
823561
201286
1.197,339
606.950
807 428
297.145
1 1 1 .953
182.433
39
Rents
181020
85.076
516678
344,204
289.699
125.079
47,241
30.976
40
Royalties
62 176
49640
1 043.538
324379
62 363
75.045
99.268
27,489
41
Net shonterm capital gain reduced by net tongterm capital loss
2.239
109
6.011
5,610
C)
CI
CI
Cl
42
Net long term capital gam reduced by nel shorllerm capital loss
128.082
89.217
159.960
269.478
303.598
70.978
33012
24.271
43
Net gam, noncapital assets
34.638
25.837
79.653
106.322
40 732
34.983
6.982
6.971
44
Dividends received trom domestic corpotations
167.210
44 161
247,456
289.252
182.227
157.987
113.125
22892
45
Dividends received trom loieign corjjorations
251 194
95625
733.681
341.290
540.769
13576
151 139
26.734
46
Other receipts
748146
471806
787.711
451 754
570 563
926.443
193 078
169,418
47
Total deductions
86.268.264
56.722.171
88,287,186
80.732,905
103,506.601
40,536,332
19,512,277
1 7 848 098
46
Cost ol sales and operations
66.265 106
42800.444
59 196 676
56 167 372
81 913 741
31 037.747
13330619
1 1 ,V^D,W3D
12 535 001
49
Compensation ol otficers
450.885
1 287 084
I 382.596
723 947
220 268
230 909
262.863
461.177
50
Repairs
3.676451
713.361
766 501
554.459
I 018 460
361926
263.801
118.127
51
Bad debts
135 438
185.172
285272
353 931
1 75 923
54,873
50.476
81605
52
Rent paid on business property
473.496
536.838
925.079
850 042
464,928
336500
227.416
219.476
53
Taies paid
2.166.258
1504 324
2 734.618
2 311346
2,238.333
1 114.714
525.151
452716
54
Interest paid
1 828 280
902.895
2530.890
2 265 899
2.541.647
764.119
345.499
498077
55
Contributions or gilts
62 652
32744
57824
29 675
26.605
13.749
12303
9 487
56
Amortization
45.783
14.529
59 532
18.068
13 820
5,531
8.066
8119
57
Depreciation
2.809.866
1.330310
3.333.996
2 659.112
2.845.936
1057,636
696 737
373598
56
Depletion
594,372
14,086
22.554
20.771
10 636
18.927
CI
Cl
59
Advertising
167 846
354,417
631.606
848.200
626.783
132.030
420.405
370.157
60
Pension prolit-shanng stock bonus and annuity plans
1 448 525
655434
1 183.557
834.266
1918.693
722 713
301 685
114 899
61
Employee benelit programs
882-768
400 664
790.514
768 832
2 129 208
473.417
139.694
96.863
62
Net loss, noncapital assets
31.067
47,224
38.390
47,865
11.710
1.139
4,757
21.686
63
Other deductions
5.229.251
5.942 645
14347.581
12 276 980
7.327 690
4.210202
2921 547
2.486.612
64
Total receipts less total deductions
6233.638
3.466 755
6411,656
2,883,119
2.199.672
1.254 997
1.580.201
636.606
65
Constructive taxable income trom related toreign corporations
104 107
64 042
628,603
208 615
285.592
10312
82.323
18.441
66
Net income (less delicit) time 64 plus 65 minus 37)
6.321.206
3.548.209
7.002.863
2,980,293
2.464.294
1.263.014
1.652.635
651.747
67
Net income
6,395.21 1
3.851,192
7.643.417
3.645.631
2.653.843
1.437.289
1,833,276
862.295
68
74.005
302.983
640.554
665.338
389.549
174.275
190,641
210.548
69
Income subject to tan
5.680.790
3.554.775
7.291.211
3.371 722
2.799.635
1.285.271
1.752 382
774,450
70
Income tax total
2 707 709
1.629.096
3426.598
1.568.136
1.292.637
601.571
826 935
352,071
71
Normal lai, surtax, and alternative lax
2 688.333
1.625 610
3.415.535
1 551 199
1.265.227
597.884
825 161
350,851
72
Tax trom recomputing prior year investment credit
5 174
3.247
10.835
12.373
6.907
3.499
1 772
770
73
Tax trom recomputing prior year work incentive (WINI credit
I'l
CI
CI
74
C)
CI
I'l
Cl
74
Additional tax lot tax pielerences
14,197
CI
CI
CI
C)
CI
-
Cl
75
Foreign tax credit
371,719
87 609
837.548
275627
404,029
28.615
126224
25.411
76
Investment credit
273 407
92973
174.587
129.469
114 698
59 966
33 105
19 902
77
Work incentive (lAIlN) credit
Distributions 10 stockholdeis
416
507
588
616
644
727
107
65
78
Cash and property except own stock
1 177 160
545,404
1.831.212
1.235.613
1,693 864
361.659
517130
119 970
79
Corporations own slock
68718
61 359
35 186
24 405
41048
17940
CI
5 535
Footnote at end of lable See lent for E«planation ol Terms and "Description o( the Sample and Limitations ol ine Dala
24
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 2.— Balance Sheets and Income Statements, by Major Industry— Continued
|All
I^LiL'S df >-s'im,^lLS tidsed ori san^plf?s-money amounts are m thousands ol lollars]
Item
lUaior industry— Continued
Transportation and public utilities
Wholesale and retail trade
Total
Electric.
Total
Wholesale trade
transportation
and public
utilities
Transportation
Communicalion
gas. and
sanitary
services
wholesale
and retart
trade
Total
wholesale
trade
Groceries
and related
products
Machinery
equipment,
and supplies
miscellaneous
wholesale
trade
Nufnber of returns, total ■■... - -
00
(351
(36)
(371
(38)
(39)
140)
(41)
(42)
eo.232
47.197
414.691. 198
6,969,496
62,153
36.353
100.766.478
3,609 837
9.369
S.700
115.654.441
1 166204
8.710
5.144
198.270.279
2 193 455
602.423
403.036
313.305.334
21:928 097
214.975
15S.S42
159.566.514
11 414 440
20.870
15.195
13.080.996
1 037 447
45,391
34,990
25.908.173
1 691 220
148.714
2
With net incoiTie .■■. .
108.657
3
Total assets
120.577.345
4
Cash
8.686773
5
Noies and accounis receivable
2S2'iO,586
11,311660
4548,905
9 390 021
86 873 981
54 583812
4 446,106
8700437
41.435.267
6
Less Allowance loi bad debis
412 94.-
173,547
123 196
116,204
2 096,384
927 077
92 402
174,986
659.689
7
Invenlories
12 953 06;
2704,675
3.646 837
6,601 555
100 043 924
46 811 724
3715558
9,437205
33.658.961
Inveslmenis in Govetnmeni obligations
e
United Siaies
2 762 824
1 372431
1 186 825
203 568
673 115
377,046
14 492
73,355
289.199
9
Slate and local
269 483
227 587
33 538
8358
345,831
210602
11981
12,913
185.708
10
Other current assels
1 1 452 196
3 781 759
4 222 027
3,448,410
9 906 871
5343,210
431 491
585.251
4.326.468
tl
Loans 1o stockholders
271 754
220,188
27 899
23,667
1 585 098
691 830
66,339
120,665
502.826
12
Mortgage and real esiale loans
552,539
311,174
133 545
107,820
937,250
395 700
28,397
22.222
346.081
13
Other investmenis
32 001 433
13,423.141
9218,997
9.359 295
25,269 037
15,066,635
695,928
1 455.547
12.915,160
14
Depreciable assets
407 914 597
87.237 235
113,212 883
207 464 479
89 782 155
33,038,626
4 082 311
5.061.783
23,894,532
15
Less Accumulated depreciation
101 499 639
29.040.975
24,525,817
47 932 847
36 537 550
14 664 750
1 941 009
2.219.772
10,503,969
16
Depletabie assets
1 135 752
154.627
n
979 065
611650
427,593
CI
34 582
391 391
17
Less Accumulaied depletion
231 259
52.390
n
177,489
148,397
104 402
CI
12.165
91.739
IB
Land
4 0B5 67I
1.447,752
527 842
2 110 077
7 558 991
2 523,309
208 974
353105
1.961 230
19
Intangible assets (amortizab'e)
1 188384
282074
753190
153,120
1 116 842
524 223
28 248
76,522
419.453
20
Less Accumulated amortizal'on , - ,
310 469
56,410
206,116
47943
317023
134 564
7 902
23965
102.697
21
Other assets
10 337 730
4,005,660
1,830 198
4 501 872
8 771 846
3 988 557
349,913
714254
2924.390
22
Total liabilities
4t4.69t.19S
15,271 251
IOD.766.478
6809 657
115.654.441
2 023 653
198.270.279
6 437 941
313.305,334
64,995,168
159,566,514
37 638012
13,060.996
3688.853
25.908,173
5.470.919
120,577,345
23
Accounis payable
28.478 240
24
year
24 751 703
6734553
5 664 718
12 152432
48.087 436
26,225 197
1 754.268
4,662.762
19.808.167
25
Other current liabilities
23 139 240
9,064 265
5,968 584
8 106 391
24981 749
11,991,066
1.008,426
2,116.641
S.S65.819
26
Loans from stockholders
1 510 938
917 991
420434
172513
7.463.705
3.102,748
323,083
494.319
2.285.346
27
159 446 213
30,453,063
43,671,715
85 321,435
40.919.566
15,609,602
1 588,446
2.505781
11.515.375
28
Other liabilities
27 281 279
10,064,189
7.087.077
10 130.013
9 288.641
3.882.472
405.126
494.773
2.982.573
29
Capital stock
66 221677
8.690 151
16,661.128
40,870,398
27,527.948
12925,217
1.087676
2.057 670
9.779.671
30
Paid-in or capital surplus
36995 104
9,729,490
14,974.111
12291.503
18.660.869
9,680 225
438 472
946.454
8.295.299
31
Retained eafnmgs, appropriated
1 499 482
803.433
106 402
589.647
1 404 997
753,112
67.994
68.383
616.735
32
Retained earnings, unappropriated
59,304 684
17 967,623
16,994,448
22,342 613
73.324.719
39 326214
2,846.001
7,399,223
29.080.990
33
Less Cost 0' treasury stock
730373
467 937
117,829
144 607
3,349.484
1,567371
127.349
308.952
1.131.070
34
35
Tnlal rpreiDl4
222.0T4.759
214217 780
97.083.346
92059.069
51.404.239
50510561
73.587.174
71648 150
923.364.748
906 907 258
499.287.522
491668 543
77.635.837
76 875 101
60.465,632
59 142 737
361,186,053
Business receipls ,
355.650.705
36
United Slates
91.725
59,589
17.644
14492
83420
42,628
2,564
4 827
35.237
37
State and (ocat
23 822
14796
4931
4 095
32.004
18.940
3010
1.680
14.050
3B
Ottier interest
'607,480
743910
333853
529717
3,743,285
1.960.015
103,527
307 683
1.548.805
39
Rents
t 909 025
1 464 224
201 174
243.627
2227,142
668.779
70 954
206.385
391.440
40
41
Royalties
Net snort-tetm capital gain leduced by net tong-teim
167 569
84.332
64 205
19.032
144,105
79.252
3,004
24708
51540
capital loss
34 932
4 571
ri
16704
23475
17.849
206
2 371
15.272
42
Net long-term capital gam reduced by net short-term
capital loss
652 673
445422
31.625
1 75.626
486,292
212.462
15,393
24 757
172.302
43
Net gam. noncapital assets
Dividends received trom domeslic corporalions
630.533
511 971
32.615
85 947
312484
158148
12507
40,387
105.254
44
1B1.221
94,104
20 062
67 055
439,769
366 600
10392
30,301
325.907
45
Dividends received tiom loreign corporations
95 003
61606
1')
C)
255,614
180495
1008
7,206
172.281
46
Otr>er receipts
2 462 996
1 539,752
146726
776518
8 709 900
3913811
538 171
672 380
2 703.260
47
Total deductions
213,412.223
132 102,441
94.433.336
62 376.074
47.951.920
26 011 956
71.026.967
43,714,411
900.8S2.43S
707 574250
483,039.689
411215460
76.700,248
67 765 545
56.925.468
44286 849
349,413,973
48
Cost oi sales and operations
299 163.066
49
Compensation ol ollicers
Repairs
Sad debts
1984 798
1429619
269 265
285,914
15,215089
7,583,230
803493
1 626 705
5,253 032
50
493860
210 880
64,716
218,264
2,897,270
1.096125
174 846
154673
766,606
51
998 408
437 536
332,529
228 343
2 365 214
1.147 584
104,816
201619
841 149
52
Rent paid on business property
5515270
4 413 430
711 264
390.576
12,076,755
2704.943
357,003
418 733
1,929,207
53
Taxes paid
Interest paid
12 990 604
4 510 486
3 156,749
5.323 369
12780772
5.276.608
511.297
680 653
4084,658
54
12 900,401
2 856,092
3 370 736
6.673,573
9 524 767
4,436.064
351016
643 982
3441,066
55
Contributions or gilts
Amortization
99 800
37,670
31314
30.816
222,846
120,059
10010
18 537
91.512
56
259,460
179,431
10 469
69,580
78,495
42,480
2,182
3 094
37.204
57
Depreciation
21 179 '01
5 675 121
7 501 944
8 002 636
7 860 374
2 927 425
392,294
590 995
1944 136
56
Depletion
Advertising
Pension, prolil-sharmg stock bonus and annuity plans
311,204
81 982
(*l
229,024
275424
237601
577
8.350
228.674
59
799 190
458,993
252 831
87,366
8 039.551
1.642.947
166,381
250,918
1,223.148
60
3419.415
1 028.926
1656111
734,376
2,558509
1,336,747
155,330
257,540
923.877
61
Employee benelit programs
1617.712
659 541
645,326
312845
1 490 663
551514
98 733
96,942
355.839
62
Nel loss, noncapital assets
64 381
43.295
5 594
15,492
204 436
66912
9 828
8 787
49.297
63
Other deductions
18675,558
10,034 258
3930,918
4710382
117,718 023
42,553 990
5 794 397
7 677.091
29.082,502
64
Total receipts less total deductions
8 662 536
2,650,010
3 452.319
2 560 207
22,482310
16,24 7 833
935,569
3.540.164
11.772 080
65
Gonslructrve taxable income trom related loreign corporations
45 156
22,178
CI
CI
122,756
65465
CI
(■)
58,339
66
Net income (less delrcit) (line 64 plus 65 minus 37!
8 683 870
2,657 392
3,462,587
2 563.891
22573,062
16294.358
933,287
3 544.702
11,816369
67
Net income
1 1 018,101
3 907 632
3,710648
3 399.821
27 386659
18.251.598
1,130310
3.745.129
13,376,159
68
Deficit
2334 231
10 101 526
1 250 240
3 185,600
248 061
3641 119
835.930
3.274,809
4 813,597
19338626
1957240
11 716.450
197.023
877,081
200.427
2.123.025
1,559.790
69
Income subject to lax
Income tax, total
8.716.344
70
4 719 299
1423 965
1 744.040
1.551294
8.315 540
5.141,435
378 391
911.539
3 851.506
71
Normal lax, surtax and alternative tax
4 682 739
1 408 234
1730317
1 544,188
8,291 703
5.127.206
377,261
907.974
3.841971
72
Tax Irom recomputing prior year investment credit
29 194
9,230
13711
5,253
19723
10.536
1 130
3313
6.093
73
Tax trom recomputing prior year worh incentive (WINI credit
CI
(■)
CI
—
31
21
Cl
Cl
15
74
Additional tax lor lax prelerences
7 351
6 498
-
C)
4 083
3.673
^
CI
3.427
75
76
Foreign lax ciedit
Investment credit
95829
45 850
31 384
18595
388.167
285.976
1,087
12 204
272685
1 112,013
360 559
466,338
285 116
394 788
165 599
18560
32 527
114 512
77
tWork incentive (WIN) credit
406
115
198
93
939
522
55
139
328
76
Distnbulions to stocktiolders
Cash and property except own stock
8 323 023
1 076 620
2 658 293
4 588.110
4 378 033
2 638 408
127971
551 774
1958-663
79
Corporation s 0*n slock
153610
63 794
9 780
80036
311 837
22f^ 109
22 796
32 390
165523
Footnote at end ol table
See text for E-planation oi Terms and Description ol lhc Sample and Limilalions ol the Data
Corporation Returns/1974
25
RETURNS OF ACTIVE CORPORATIONS
Table 2.— Balance Sheets and Income Statements, by Major Industry— Continued
|AII
'igures are estimates ba&eti on samples— money amounts are m moiisands ot rtollarsi
(Um
Maior industrv— Continued
Wholesale and retail trade— Continued
Retail trade
Total retail
trade
Building
materials,
garden
supplies,
and mobile
General
merchandise
stores
Food stores
Automotive
dealers and
service
stations
Apparel and
accessory
stores
Furniture
and home
furnishings
stores
Eating and
drinking
places
Miscellane-
ous retail
stores
Wholesale and
retail trade
not allocable
home dealers
Number o' f elorns, lolal
(43)
144)
1451
(461
(47)
(481
1491
(50)
(51)
(521
1
3S6.772
31 319
10.996
26.335
63,863
38.529
36.044
22.106
76.601
10J.0B5
66.505
676
295
92.209
4 796
2
With net Income
243,899
21.909
7.363
17.148
41,634
27.378
40.854
12.055.330
1 030 686
3
Total assets ,
153.646.611
10,410.541
47.259.789
17.750.821
27,592.534
9.346.105
9,691.643
618 369
20.639.848
1.554.367
1
Cash
9508.861
730 581
1 718.186
1.271.176
1545 644
179 852
5
Noles and accounts receivable
32 266.999
2 423 509
15.773 193
1.369 766
3.837.976
1696.256
2 548 540
1.055.948
3 521909
23 170
6
less Allowance loi bad debts
1 168 906
95 698
686.851
21554
107025
44 527
77 209
28.207
117 836
C)
7
Inventories
Investments in Government obligatiins
53.207 578
3.866 964
12554.404
6.285.939
14.364.628
3.757.213
3 529 121
706.596
8.142 713
24.622
6
United Slates
296 069
13.659
75.325
81.528
31.894
25025
19 924
11.956
36 758
_
9
Slate and local
134.989
CI
36 701
28977
to 143
6.765
11617
25 473
7 632
CI
10
Otnei current assets
4 561 248
259.539
1.087 454
620014
719 668
334 063
207 103
421 798
91 1 609
2413
11
Loans to slocKholdefs
893 260
75232
51 786
68 964
163167
119 561
77481
142 605
194 542
CI
12
Mortgage and real estate loans
541550
88 174
127 211
65 992
63 744
14 648
14 148
82 355
65 278
13
Otnet investments
10200 154
525 737
4 132068
1 252 344
1 080 519
676 276
326872
983.321
1 272 997
C)
14
Depreciable assets
56 703 712
3 139 447
15 727 697
10408.255
6 836 877
2 525 865
1.848.632
9 172.155
7 044 784
39 817
15
Less Accumulated depreciation
23 963 647
1 433 967
5 978 224
4.737.431
2 854.056
1 207 669
820 030
3 507 018
3 325 252
9 153
16
Depleiable assets
184 057
24 689
CI
CI
26388
CI
C)
CI
54851
_
Less Accumulated depletion
43 995
5.694
CI
(•)
3104
CI
CI
C)
Ci
18
Land
5 033 751
404.163
1 492422
558565
1.008.310
107.169
166 039
860.396
436 686
C)
19
Intangible assets lamortizabie)
592 581
14 636
69 280
48.623
37 562
14 899
16235
231 584
167.772
i'l
20
Less Accumulated amortisation
162.457
3 535
17.625
17.029
13.837
6.625
9.084
61 999
52.723
CI
21
Other assets
4.7S0 907
305.744
1.038.459
465-291
822 136
296838
209 758
882 648
760 f:33
2.382
22
Total Habititles
153,64«,61t
10.410,541
47,259,789
17,750,821
27,592,534
9,246.105
8,691,643
12.055.330
20,639,848
92,209
23
Accounts payable
27 338.686
1555 571
9 889.049
4 209 527
2 605 473
1 634 096
1 583 032
1 377834
4.2174.10'
18.468
24
Mortgages notes, and bonds payable m less
than one year
21 853,678
1 399.540
3.863.120
900 466
10.817583
678.302
1.166367
1.016 077
2.012 223
8.661
25
Other current liatNlrties
12987,170
690.973
4.778 414
1.746.206
1.786 040
721 775
690428
997,514
1.575 620
3493
26
Loans tiom slockholOers
4,356726
381512
509 565
244.957
778 536
346 651
361377
857 575
876 533
C)
27
Mortgages noles and bonds payable m one
year or more
25,284.779
1604.197
8 821 520
2.983282
3 211945
1,091.393
972.447
3,637.833
2962.162
CI
28
Other liabilities
5 398 390
325.576
2 044 987
549 691
642.394
273.784
494.073
438727
629 156
CI
29
Capital siocK
14 595 753
1 378.164
3 037.409
1.446351
2696.048
1206776
1068.323
1 349.548
2.414 134
6 978
30
Paid in or capital surplus
8978.463
406 523
2.841.526
1600.793
833.804
517,879
469 583
1 073.674
1.236 681
CI
31
Retained earnings, appropriated
651.685
49 800
189 290
84 104
141.314
23 108
61 443
38.038
64 768
32
Retained earnings, unappropriatet]
33.ti92.685
2 790693
11 706.059
4 179 52B
4386417
2704 397
1945.545
1 434.632
4 636.614
15 630
33
Less Cost ol treasury stock
1 781 606
171 008
421 179
193 084
307 020
152 055
120.976
166022
250 27?
CI
34
Total receipts
423.947.299
23.959,568
83.126,899
97,811,448
96,885,068
20.807.862
19,153,181
28,828,193
53,375.080
129.927
35
Business receipts
Interest on Governmeni obligations
415 121 4Cit
23 31=6 958
80 596 829
96 770 380
95.266.353
20,345266
18.394.225
28.116.387
52 255 003
117.314
36
United Slates
40 792
2 061
18 ttt^
5 436
4.085
2415
1.478
1.038
6.163
_
37
Stale and local
13 052
181
626
1.978
2 821
470
785
5.557
634
CI
36
Other interest
1 775 619
124 26?
663.582
105.550
466.931
76,906
133 669
72937
131 777
7 661
39
Rents
1 555 657
103 154
439570
267,991
291 217
83425
42.649
148 729
178.922
CI
40
Royalties *
64 853
544
772
3637
7317
CI
("1
33.013
1362'
41
Net short term capital gam reduced by net
long term capital loss
5.626
2.754
CI
313
604
VI
CI
823
282
_
42
Nei long term capital gain reduced by net
short term capital loss
273830
26.964
46 393
29 964
33.515
13 632
17763
64 253
41 376
C)
43
Net gam, noncapital assets
154.326
13073
11.988
21853
35 991
4 969
3 142
39.492
23.820
C)
44
Dividends received Irom domestic corporations
73 169
7 967
16061
8.282
8 121
11 494
3999
6 627
10 609
45
Dividends received trom foreign corporations
75119
CI
69.200
CI
C)
CI
C)
C)
2 6)6
_
46
Other receipts
4 793.853
311645
1 273088
595 772
747 479
36' '54
6S0 468
j;.iH014
710 233
I'l
47
Total tleriuctions
417.716.240
23.328.716
82,128.934
96.768,869
95.950.052
20.310.549
16,661,574
28,235,703
12 368 061
52,131,843
126,509
75460
46
Cost ol sales and operations
296 283330
17 129 326
51 141.614
76413313
78 869 245
12312 131
11 871 871
35.577 769
49
Compensation 01 olticers
7 525 905
696 957
303 142
594872
1.643.443
711233
768 769
995.093
1 612396
5.954
50
Repairs
1800 665
105870
369 285
400.389
244 204
69 179
64 875
344 907
201 956
480
51
Bad debts
1 216.996
151543
446.726
49 444
164 739
61452
113.948
36.706
192.438
CI
52
Rent paid on business property
9 370 147
311 131
2.144588
1.436 202
1.013736
1,112 739
555.567
1.388 835
1.407 349
1665
53
Ta.es paid
7 501 183
437 006
1860 139
1 165.970
1 123.593
446270
375 037
1 072.406
1.020.762
2 981
54
Interest paid
5 086 627
304 089
1.991.680
364.770
1.179357
169 955
243 804
379 184
453 948
1676
55
ConlnCulions or gills
102761
5 803
36 366
15591
11.981
8.115
5.107
5.774
14019
("1
56
Amortization
36015
803
6 482
1988
3255
2 976
1398
11.977
7 136
57
Depreciation
4 930 129
283.424
1 115 344
939 315
733 708
227.866
178 565
775.754
676153
2820
58
Depletion
37816
2 044
CI
CI
18279
CI
1.260
CI
11.239
C)
59
Adveilising
6395613
244 840
2 112 466
853 084
775.678
444.186
624 982
486.126
B54 25-
991
60
Pension prolil shanng stock bonus and
annuity plans
1220.707
80 .--20
327716
322.984
128.160
78 325
61 414
57.996
163 792
C)
61
Employee benelit programs
938.984
44 944
186 842
346546
12'-' 650
43S21
29 928
66 047
32.506
Ci
62
Net loss noncapital assets
137 524
8113
28 509
15.305
10 584
8.139
9 854
39 900
17 120
63
Other deductions
75 131 638
3 522 499
20.055.746
13 648.647
9 900.400
4 613 606
3.955 195
9.606.638
9.629.009
32.395
64
Total receipts less lolal deductions
6 231059
630 862
997965
1 042 579
935016
197 313
291 607
692.490
1243 237
3.419
65
Conslruclive la.able income liom related
loreign corpoiations
57 291
—
CI
CI
(■)
CI
(■)
CI
1*1
_
66
Net income (less delicitl (line 64 plus 65
minus 371
6.275 298
630671
1.051.148
1 041 608
932.416
497 334
291 209
587 468
1243 444
3 405
67
Net income
9 131.209
814 722
1.728 481
1.258 984
1 359 706
747513
519.066
1010 244
1.692 49:1
3 662
68
Delicil
2 855 911
184 051
677 333
217 376
427.290
250 179
227 857
422 776
449 049
CI
69
Income subiecl lo tan
7 620 409
640 237
1667.033
1 110.685
1 129 784
626209
406 669
694.336
1 346.456
Cl
70
Income lai lolal
3.173 347
245.944
779 599
495.205
439 527
250437
148 090
277217
537 326
C)
71
Normal la. surtax and alternative tar
3 163 760
245 439
777.055
493.460
437 356
249 998
147 851
276.049
536 552
Cl
72
Tar Irom recompuling prior year inveslmenl
credit
9 167
502
2 187
1 742
2 147
439
2Tn
1 135
776
Cl
73
Ta< Irom recompuling prioi year work
incentive IWIN) credit
10
CI
—
CI
C)
—
—
(■)
CI
—
74
Additional lar lor ia« preterences
CI
-*
C)
-
CI
-
-
CI
-
-
75
Foreign tan credit
102 191
I'l
66 2H
1.28S
C)
1".
CI
CI
2 760
_
76
Inveslmenl credit
229 009
10274
63 875
65 154
17 942
9215
3652
30.793
2791.1
j*l
77
Work incenlive (WIN) crc-dil
Dislribulions 10 stockholdors
417
CI
71
111
63
CI
C)
103
1.1
-
78
Cash and pioperty c.cepl ow.t stock
1 739 511
91115
753 654
269 654
132 787
74 843
41 615
147 807
228 036
Cl
79
Cr^rporalion s ov.n slock
121 12H
14 397
15 504
39 198
7 756
CI
C)
CI
12 MC
Fooinoic at end citable See leit lof E»pianalion of Tcims and Ocscnplion ol the Sample nnd LinnlalionsoMhoDala
26
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 2.— Balance Sheets and Income Statements, by Major Industry— Continued
(All tiqurt*^ \i<j falim
les tja^i_-d on ban
npJL'S -money amounls are in thousands ol duli,ir..
Ma)or industry— Conlinjed
Finance, insurance, and real estate
Holding and
Item
Total finance.
Credit
Security
Insurance
other
investment
insurance, and
Banking
agencies
oilier than
commodity
brokers and
Insurance
agents,
brokers, and
Real estale
companies.
real estate
banks
services
service
except bank
holding
companies
Number of returns, total
(531
(54)
(SSI
(56)
(57)
15!)
(591
(60)
,
4!5,J<9
14,534
48,597
4.867
8343
35.387
266,616
46.905
2
With net Income
24B,323
2.176.6S2.153
12,030
1.176.55B.767
28,029
386,198,761
2.190
24.986.454
5,961
378.024.315
22.733
7.235.698
1 250 004
148,974
102.053.640
4057018
26.406
3
Total assets .■■■........... ..........
10t.594.5ie
3 743.539
4
Cash .... ....
209,607 023
182 718 1111
11 627 79t,
1071 725
5 136 823
5
Noies and accounts receivable
669,555858
578 424.614
53 931,715
8 890,129
6 389 134
2.834 123
10 077 658
7.008.485
5
Less Allowance lor bad debis
23,366 113
9 767.330
11,903,500
38,029
270.331
32.706
514266
839.931
7
Inwenloiies
3 761 d28
63,561
1 510 872
CI
634 n76
16,476
1488.924
37.156
Investmenls m Governmenl obiigatios
e
Uniled Stales
113,326,401
85710.023
13045 400
1 158,107
11 442 878
107 337
383.607
1.479.049
9
Slate and local
126,451,132
95.249.254
1 ,869,230
146.131
27.778 434
183.929
246.700
977.554
10
Other cuffeni assets
57 705,692
18 711,041
5062 030
9533,391
11604 628
295 465
8,606,374
3.892.763
n
Loans 10 slockholde'S
2,155,924
110 605
485 106
53,053
214868
65.376
984,255
222.661
\2
Mortgage and real eslale loans
502 098,020
114,621,308
261 903 038
44.397
88 384 261
34,516
3,315.089
13.795.411
13
Other inveslmenls
357218775
63,079,343
15,977855
2696,336
203,224325
1 192 753
7.533.712
63.314.451
IJ
DeptecaDle assels
104,139976
20145743
8 611 754
509 366
7,423,694
826053
62.149.355
4.473.991
15
Less Accumtilaled deprecialion
28,947,996
4,050,631
2679,931
174,467
1.101.405
357.039
19.776.970
807.533
16
DepfeiaDle assels
1,259.438
8919
36,702
C)
CI
C)
825.186
327.430
17
Less Accumulaled depletion
613,307
I tot
1469
(■)
CI
(-)
449.3)4
159.193
18
Land
25470877
1,913905
1 962,675
33 170
600.475
76.889
18,854,663
2029,099
19
Intangible assets (amorlijablel
1,397 809
227 673
120 056
36,490
225,985
151.194
436754
199.657
20
Less Accumulaled amorltzalion ....
352 773
58.029
40 816
9 176
29 027
45399
122,144
46.182
21
Olher assets
55,783 989
29,451,750
4690,248
826 158
14306707
613 956
3,957,059
1.948.111
22
Total liabilities ■
2,176.652,153
32 453,331
1,176.558.767
4,433.328
386,198,761
4.231 095
24,986,454
9,683,106
378.024.316
5,947,261
7.235.698
2,986.228
102,053.640
3,945 241
101,594,518
23
Accounis payable
1.227.072
2d
Mortgages, notes, and bonds pavable m less than one year
109,736,478
30 464.557
43493.090
5,739.035
4,087 908
418.888
13,560.166
11-972.932
25
Other current liabilities
1 313,114,652
999.971301
251624 791
3,897,656
52,253 146
563070
3.353.209
1.461.479
26
Loans trom stockholders
8,518948
1 481.766
1.068 985
110,806
655,071
120-253
4195,135
686.682
27
137,093.071
17112293
53 430.604
1 439,813
5,681,895
625 287
49,237,698
9.565.481
28
Olher liabilities
322 588161
43,714.946
9.431.582
528757
258 504075
461958
6,008.650
3.937.993
29
Capiiai stock
56.891 586
17691 137
5.424.049
717,156
5.306.550
551 201
9,863.194
17.338.299
30
112,307 527
27 121.097
5.240177
1,698.787
11.852,315
572.884
6,973.816
58.846.451
31
Retained earnings, appropriated
14 646 463
5,099 342
2 900,551
23,914
5508,042
41669
248.560
924.395
32
Retained earnings. unapprop'Bled
73 838 999
29,917 904
9687.642
1328,662
28 570,892
1,010,234
5,735,126
-2.411.471
33
Less Cost ol treasury stock ,
4 537 073
448 904
233 805
171 238
542,740
1 1 5 994
1,067,407
1956.985
34
Total receipts
303,198.775
90,485,545
45.373,990
5.512.539
120.800.420
6.969.625
25.713.629
6.343.027
35
Business receipts
Interest on Government obligations
149 :ij^ 19^
10 369 ^99
17 249.661
2.600.417
98.299.376
6 697.331
13,128.075
660.331
36
Umled Slates
8,117,135
5,964 785
1.163.354
225.008
517.921
26,401
28,085
191.581
37
Stale and local
5,373,023
3,943,230
61,806
37.508
1.252,320
5.723
19,978
52.456
3B
Olher interest
112,856.912
66,522457
25.476.716
635.647
15.526127
97.226
1.091.565
3.507.174
39
Renls
10,704,462
1 298,708
303.351
26.204
1.310,269
30,314
7225,199
510.41-
40
Rovailies
521 705
7,304
6153
4.236
23.655
CI
234,525
245.485
41
Nel short-term capital gam reduced by nei long-term capital loss
88 534
17 538
8.045
14.404
7504
436
21 941
18.666
42
Nel long-term capital gam reduced by net short-term capital loss
1 741,419
153130
169.356
30.572
189.427
ra,770
606,352
579.810
43
Nel gam, noncapital assets , . .
4,333 208
4528,863
177 340
261 946
97.638
68,458
1.620.719
66.899
73.170
2.049.418
2.575
20.741
2,320,327
100,341
41.439
44
Dividends received Irom domestic corporations ...
1.941.060
45
Dividends received kom loreign corporations
202.031
62 736
13 623
2.446
26.522
Cl
2,976
86.973
46
Other receipts
5,526,293
1 686,572
756,627
249 479
1 524711
70 006
934 265
305633
Total rfcriiirtmn^
286.399.S99
82502,672
83,730,992
2,882 832
44.117.262
1 1 497 956
5.349.311
652.357
115.878.145
60739 657
6.592.799
1.907.341
25,486,897
4.590.172
5.244.493
46
Cost ot sales and otwralions
332,157
49
Compensalion of otitcers
7 689,524
3,297 520
803.117
528,390
532.293
1014,466
1.337,010
166-728
50
Repairs
1,220 456
323,647
130.121
11 739
49.166
16.291
664.228
25.265
51
Bad debIs
5,536,639
3,048 785
1.587 065
34,434
246,929
50 980
184.648
363.798
52
Rem paid of> business piopeny
3,765,501
1,370 066
389,245
244 148
754 191
162 461
760.203
65.167
53
Taxes paid
8,314,013
1.871,829
692,814
158,294
2,701,025
179.932
2.512.745
197.374
54
Interest paid
82,041,318
50,996,029
21,825,451
754,802
1,651,897
82.201
4.591.395
2.139.543
55
Conlrrbulions or gifts
127 972
66872
17 262
2,652
14.065
5.153
15.633
6.295
55
Amortization
75.394
23.314
9,665
3,767
10.243
5.674
18.302
4,429
57
Depreciation
6,423.469
2 191 419
612291
62,735
923,811
102.606
2.375.939
154.666
58
Depletion
216 190
4778
1,027
607
11,643
C)
146 165
51.481
59
Advertising .
2 241.960
728.310
536,468
37,773
397,310
67,602
454.347
16.150
60
Pension, prolitshaiing stocli bonus and annuity plans
2 078 053
783649
181.627
60,710
639,874
113 891
77.873
20.429
61
Employee benefit programs
771 221
338,744
61.069
34,172
212815
43.344
55.189
5.886
62
Net loss noncapilal assels
678 188
344,905
107.119
9978
23.663
2,471
146.929
43.123
63
Ottier deductions
82 717 329
15468,293
5642,945
2 752,554
46.769 343
2916,077
7,556119
1609.998
64
Total receipts less total deductions
16,798.876
6,754,553
1,256 728
163,228
4.922 275
376,826
226 732
3.098.534
65
Conslnictive taxable income Irom related foreign corporations
78,303
23,444
CI
C)
7.041
(-)
357
29.854
66
Net income (less delicil) lime 6fl plus 65 mint]s 371
11,504 156
2,834 767
1207 268
126,752
3,676,996
375,332
207,111
3.075.930
67
Net income
17,631845
3 632,846
1.885,326
341 70O
5,253,579
501,897
2,549.035
3.667.462
68
Dedcil
6 327 689
798.079
679.056
214,948
t 576.583
126.565
2 341.924
591.532
69
Income subiect 10 tax
12 594 289
3 403.262
t. 745.246
267 206
4 325,209
382 595
1.916.051
554.719
70
Income lax total
5 570,370
1578.659
801.604
122.067
2,056,474
148,733
657.182
205.651
71
Normal tax surtax, and alternative lax
5,496189
1.548,111
767.447
121,892
2053,290
149,519
652.61 1
204.318
7?
lax Irom recomputing prior year investment credit
12120
5 106
1.412
175
3,141
205
1.415
666
73
Tax from recomputing prioi year work incentive (WIN) credit
23
3
(■)
—
C)
—
C)
—
74
Additional lax lor tax preferences
62,039
25 439
32733
fl
39
t-)
3152
667
75
Foreign lax credit
Investment credrt
702,783
520970
26.045
1,833
113910
5,264
1496
33.265
76
161,083
94,390
17.073
3,220
23.758
2.667
16.803
3.152
77
Work incentive (WIN) credit
Distributions to slocknoloeis
295
134
12
C)
109
C)
CI
CI
78
Casn and property ei'.epl own stock
8661214
2 590 453
484 187
75 095
1 309 999
95 599
565 415
3 540.476
79
Corporation s own stock
495,016
255756
28 811
"
18 100
C
12.585
171279
Footnoie at end ol table See text for ' Explanation ol Terms and ' Description ol the Sample and Limitations Ol the Data
Corporation Returns/ 1974
27
RETURNS OF ACTIVE CORPORATIONS
Table 2.— Balance Sheets and Income Statements, by Major Industry— Continued
(All tiguies are^ esliniales tidse-a on samples— money amounls are in ihousands of cJollafs)
l»m
Maior industry— Continued
Services
Hotels
Auto repair.
Amusement
Nature of
business
not allocable
Total
and other
Personal
Business
miscellaneous
and
Other
services
lodging
services
services
repair
recreation
services
places
services
services
Number ol returns, lotat
(61)
(621
(631
1641
(651
(661
(671
(681
1
388.832
18.236
38.272
106.484
49.122
35.112
141.606
2.842
2
With net income
221.490
84.979.681
9.253
12.763,784
22.164
4,927.054
56.369
26.013.120
30.183
9,612.488
17.409
15.582.866
86.112
16.080.369
2.202
3
Total assets
584.443
4
Cash
6399 667
439.0b2
487 068
2 194 302
618 655
984 385
1 676 195
38 866
s
Notes and accounts recpivante
14.036.481
740 012
869 718
6 555 193
1 317 298
1 481 281
3 072 989
92401
6
Less Allowance lor bad debts
419.305
29414
26314
145 539
32 647
51891
133 500
1.061
7
InvenlOries
Investments rn Government obligaiions
4 229.163
208555
433.269
1 204 358
749.577
1025 556
607.648
84.155
e
United Slates
451,290
8.694
10058
231.678
17 352
68 368
115140
Cl
9
State and local
411.655
(■)
C)
295475
CI
36 192
30.652
Cl
10
Ottier current assels
4067,269
348 506
189.530
1.465.532
288 293
1 052 030
723.378
50.061
II
Loans lo stockholders
683.566
82 050
80.249
242 059
75 225
103 423
300 560
Cl
ij
Mortgage and real estate loans
1257 101
199.647
19196
319.082
53 221
560 122
105.833
Cl
13
Other investments
9727.766
1459 607
350 138
3.833 1 79
310519
2153126
1621 199
112 428
M
Oepreciabie assets
56-133.311
11.226 144
3.880.769
13 382.154
8 862 457
10 122 661
6 959.126
214 146
15
Less Accumulated depreciation
22.629.464
3 757 449
2096.867
6.064.044
3 377 543
4 496 576
2.836.985
80 280
16
Depieiable assets
104 841
13.898
CI
18 701
CI
CI
61067
Cl
17
Less Accumulated depletion
16 339
(•)
CI
5723
—
CI
1.751
Cl
18
Land
4 509431
1.291.593
246.950
663.401
343 947
1 250.613
712 927
31.807
19
Intangible assets (amorlirablel
1 304 315
115430
95.410
275 442
40 013
592.673
185 347
5,674
JO
Less Accumulated amorti:alion
497 734
28 608
31612
97.235
5.883
266 670
47 726
1,844
21
Other assels
J 726 665
434213
385 660
t 645 115
348.265
985 342
928 070
13 644
22
Total liabilities
84.979.681
12.763.784
4.927.054
26.013.120
9,613,488
15.582.866
18.080.369
1 505.949
584.443
74.420
23
Accounts payable
7 726601
616.210
449,032
3 195.166
841.560
1.118.684
24
Mortgages notes and bonds payable m less mar. one year
11201.647
1.209.401
443,971
4 201598
2.081.904
1.669.603
1.595.170
55.806
25
Other current liabilities
7214.148
S42 912
347 256
2.814.951
416565
1533.758
1 558 706
46450
26
Loans trom stockholders
3260 063
642 021
233 979
797 813
326.522
62S100
634.628
16.639
27
Mortgages notes, and bonds payable m one year or morf
25 835.661
6 417021
1063 012
5735.075
3.295.760
4,558.080
4766.713
118.490
2S
Other liabrlities
4516534
485131
205,169
1 535 030
434.286
970,772
886.146
15.397
29
Capital Slock
/.992.473
1.249 730
715.605
2 329 154
682 542
1 469,656
1.545 786
61.861
30
Paid-in or capital surplus
9 395.409
1273.137
210.802
3.212.875
373515
2 260 399
2 064.681
94.224
31
Retained earnings appropriated
320.519
14.695
21920
85 743
30.615
60216
107 330
C!
32
Retained earnings, unappropriated
8698.671
498.612
1380159
2 484 753
1 219.325
1 504 110
1.611 712
112.711
33
Less Cost ot treasury slock
1 182.045
185066
143.851
379 038
90.106
187512
196 452
C)
3.1
Total receipts
1IS.S89.142
9.138.652
8.322.079
35.070.238
12,232,358
15.550.874
35.274.941
926,337
35
Business receipts
Interest on Government obligations
110.497.541
8.570.009
8127 720
33 336 080
1 1 698 020
14 246010
34 519.702
896.930
36
united Stales
39433
3.020
1.250
16428
1.297
5813
11625
Cl
37
State and local
30 082
931
2.370
17493
CI
2935
6 201
Cl
3B
Other inlerost
618.591
85.664
28152
330 291
65.116
164,200
145.168
10.011
39
Renis
975.076
127 845
26.288
328.535
168.689
196 621
128 098
4.634
40
Royalties
341.715
11.170
13.358
17.491
CI
268.385
9.758
Cl
41
Net sho.t-term capital gam reduced by net long-term capital toss
10.227
2.039
196
4.956
1 720
280
1.036
Cl
42
Net long term capital gam reduced by net short-term capital loss
299.171
65.969
17.095
85957
21.867
69,322
38 961
Cl
43
Nel gain noncapital assets
290.766
16.750
19.110
93854
98238
34 271
28 543
Cl
44
Dividends received trom domestic corporations
127.260
15.952
4.752
61604
4 142
28,253
12 557
Cl
45
Divdends received trom loreign corporations
63217
CI
CI
22646
CI
34519
1232
Cl
46
Other rrrceipts
2 096 063
238.305
80873
754 901
149 659
500 265
372 060
7 1^6
47
Total deductions ,...,,,....
1 13.094.392
57 418.696
9.239.785
4408.016
B.002.124
4253.833
34,269.120
19 302 575
11.937.767
6.262.457
15.074.402
7 960 519
34.571.194
15231298
896,780
48
Cost ol sales and operations
601.298
49
Compensation ot olticers
11465 876
187.859
555.865
2186753
719.528
585 612
7 230.259
49.727
50
Repairs
1 157.677
219.777
109.609
252.778
198.892
208 449
168172
6.319
51
Bad debts
471232
47.324
38.003
182.332
45,869
47717
109 987
1.502
52
Rent paid on business propedy
4.429.136
571248
374345
1073.606
450 832
640 521
1 318.584
19.735
53
Taies paid
3.889.067
516.879
327 762
1003.355
402802
553 918
1084 371
19.897
54
Interest paid
3 221389
664.606
124.614
886.193
508,728
511,681
525.567
13.643
55
Contributions or gills
40 037
1.779
4.344
11 950
1,823
10305
9.836
274
56
Amortisation
91 352
4.242
5.271
31 561
1,802
40,323
8153
719
57
Depreciation
6 160 689
644.092
378614
1 753 378
1665,947
1037 955
660 703
19791
58
Depletion
10.608
1331
I'l
2516
CI
1,565
3.914
Cl
59
1 496 343
185922
124 127
428 710
110506
418,293
228 785
21 435
60
Pension, prolit-shanng. stock bonus and annuity plans
1.926.781
17 657
51.816
278718
48103
112593
1417.692
14.451
61
Employee benetil programs
545235
29.932
33 460
140.509
48305
51 818
241211
2183
62
Net loss noncapital assels
128.548
11 992
11306
44 465
12,347
27 754
20 694
116
63
Other deductions
20 641 7C4
1 726.929
1 607.891
6689 731
1,459 826
2 865 359
6 291.968
125459
64
Total receipts less total deductions
2 494 750
-101.133
319 955
801 118
294 591
476 472
703747
29 557
65
Constructive taxable income Irom related toreign corporations
35.512
—
CI
20 283
—
CI
Cl
C)
66
Net income (less deticit) (line 64 plus 65 minus 37i
2.500.180
-102.064
319.093
603908
294439
486761
698.043
29.599
67
Nel income
4,989527
312.451
432.819
1557.005
468147
945,234
1.253.871
44.845
68
Delicil
2,489 347
414515
113 726
753 097
193,708
458 473
555 828
15.246
69
Income subiect to ta«
3,652,166
208.949
327 889
1 144916
361 144
717,707
891 561
25.518
70
Income Ia« total
1,431617
85.287
127935
470.812
132 257
308,309
307017
9,462
71
Normal lax surlax and allernadve ta>
1419876
64 426
127403
466 458
129 003
306.919
305667
9,460
72
Tax Irom recomputing pnor year investment credit
IC213
344
528
4273
3 250
709
1 109
Cl
73
Ta. (rom recomputing pnor year work incentive (V\-Nl credit
CI
CI
—
CI
CI
—
Cl
-
74
Additional tax tor tai preterences
1524
517
CI
CI
-
CI
241
-
75
Foreign lar credit
67 961
CI
1.951
21.683
Cl
40052
3059
Cl
76
Investment credit
161,092
9,126
10.929
47273
22,496
44.690
26 576
522
77
(Work incentive (lAIINI credit
Distnbulions 10 stockholders
575
i'l
149
189
CI
-
119
78
Cash and properly except own slock
826 292
99 536
67.697
268 293
52 130
184 739
153 897
6718
79
Corporation s own slock
b , J,.
CI
24 -92
'3 329
Cl
5 444
"
OEsiimate isnol shown sepaiaiely because o' ifie small numOet ol sample telurns on which il was based Howevef (he data are included tn the appiop'iate lolals
NOTE See tent lot ' Explanation of Terms" and Description of the Sample and Linmaiions of ihe Data
28
Corporation Returns/ 1974
RETURNS WITH NET INCOME
Table 3.— Balance Sheets and Income Statements, by Major Industry
|flll hgufes are eslimaies based on samples— money arriounis afp m thousands of doliars|
Total
returns
with net
income
Major industry
Agriculture,
toreslry,
and
fishing
Total
mining
Metal
mining
Coal
mrning
Oil and gas
exlraclion
Number of returns with net Income .
Casti
Notes and accounts receivable
Less Allowance tor bad debts
Invenloncs
inveslments m Govemmenl obligaMons
United Siaies
Stale and local
Olher current assets
Loans lo stockholders , , .
Mortgage ar>d real eslate loans
Olher inveslments
Depreciable assets
Less Accumulated depreciation
Oeplelable assets
Less Accumulated depletion
Land
Intangible assets (amortizable)
Less Accumulated amortization
Olher assets
ToUl liabilities -
Accounts payable - . ■ .
Mortgage';, notes, and bonds payable in less Ihan one year
Olher current liabilities
Loans from slochholders
Mortgages, notes, and bonds payable in one year or more
Olher liabilities .
Capital stock
Paid-in 0' capital surplus
Retained earnings appropriated
Retained earnings, unappropriated
Less Cost ol treasury stock
Business receipts
Interest on Government obligations
United States
State and local
Other interest
Rents
Royalties
Net short-term capital gam reduced by net lof>g-term capital loss
Net long-term capital gam reduced by nel shorl-term capital loss
Net gain, noncapital assets
Dividends received Irom domestic corporations —
Dividends received Irom lo'eign corporalions .,,
Olher receipts - ■ .
Total deductions
Cosi ot sales and operations ... ... -
Compensation ol olticers
Repairs
Sad debts
i^ent paid on business properly
Tanes paid .
Interest paid
Contributions or gitts
AmoMizaliOn
Depreciation
Depletion
Advertising
Pension ptolit.shanng, slock bonus, and annuity plans
Employee benefit programs
Nel loss noncapital assets
Other deductions
Total receipts less total deductions
Constructive taxable income Irom related toreiqn corporations
Net income (line 63 plus 64 minus 36)
Income Subject to ia«
Income tan, tolal
Normal la«, surlax. and alternative tax
Ta< Irom recomputing prior year investment credit
Tax Irom recomputing prior year work mcenirve (WIN) credit
Additional tax lor tax prelerences
Foreign tax credit , ■ -
Inveslmeni credit , -
Work incentive (WIN) credit
Distributions to slocVholders
Cash and property except own stock
Corooralion s own slock
(2)
2:i5 ie2 i?7
836815019
25 7^2.009
258 627.561
103 094,395
92 829 612
92 37-1,971
5.467 424
445 111,828
478 676,388
961 453,495
378 575 585
33,686,637
13.053,928
43,344,699
6 540,014
3,102,633
98,470,784
3,273,170.849
205,713,005
200,029,918
1.190.1 90,942
17.910.300
392,130.139
375 231,397
187,837,802
214,719.595
20.984.230
483.626,551
15,203,030
2,646,541,904
7,387 263
4 120.605
103,554.324
15 137 789
4359 359
198 167
7,304 617
4,778 573
12,867 825
7,305,578
23,276,744
2.474.821,088
1,770,845,613
42 246,046
19,789,386
9,150 793
28,742 367
62 3 J4 430
99.831,695
1 189.354
593.694
6-1 699.627
16,646,251
20 252 11'^
20,853 'l^l
'1,759 407
779,117
303 107 498
171,720,616
3 566,103
171 166,224
143 979.974
66 077,426
6^ 585,499
156.256
418
335 253
20.752,819
4,221,237
7,795
45,506,183
2 650,651
3t,500
11,400.747
31,018
336 026
150,977
115,261
973.664
6,766,820
3 112,800
72,671
18 649
2,472,064
29,248
6,623
4 1 7 652
1t.400.747
642 713
1,569,336
482,990
440,405
2,619 136
436,706
2,062,367
672 426
57,803
2,659,415
242,552
17.029.180
%935
79.875
30.366
6,121
202,757
70 177
21 752
1,502
367,742
15,709.197
11 473053
592 297
305,780
20,307
334,661
368,668
339 677
6,145
2 944
603225
13,545
36 634
70,695
20.596
6 884
1 513,686
1,319,983
1 319 161
875,563
335.060
332,826
2,160
i,osy
d2,57fi
8.931
40,763.606
2 n-1 572
10 396 551
43 379
2 741 272
260 995
255 696
1.604.699
135,646
196.752
6.132,334
20 337 735
8.956,461
4 804,695
2,159 105
616,814
729,207
261,867
1,559 248
40.763.606
2,751 751
1,790 661
9,351,150
248.562
5,527 121
1,911,642
1,976 436
4,864,058
712 314
11,943,681
313 650
61,838,820
60,103, 33S
309.196
108,609
189,386
2,520
337,929
89 080
155.010
101 610
413,559
35,459.761
20 939,209
354, R52
381,240
34.602
215 455
854 254
574,939
17.857
6,365
1,444,396
7 750,135
29 309
206 169
135.936
9 622
2 505 420
25 379 059
34.679
26 404 7fi6
2,502.672
3 842 931
1 682.142
1.176 367
375,440
44.976
43705
29,375
749 250
8.198.202
396 290
131 916
410039
538,559
1,682 272
CI
3.328 962
27 356
4,452.253
4 1 6'? 5 "
4 962
CI
65,624
3.340
7,662
28 855
2.064
43,203
66.374
37 725
3.925.282
2,733,647
15,577
28,465
966
13,267
166,307
87,758
3 745
3 692
220,557
247,679
1 461
58 089
It, 949
1*1
331,934
526,971
C)
556,306
423,040
211,659
197,667
64 315
19 463
7,346,323
694 100
1 282 041
6 451
315,865
410 636
47,510
10,590
1016723
4 524 726
1 830,642
258,681
59,776
116 545
110 741
20,268
320,193
573 164
586,745
910,868
75,339
1 188,622
317 067
313947
624 272
103,732
2 724 452
71885
9.187.123
2.146
3,382
73 986
55,956
7 9"'9
64 618
19,781
50 372
5,329,641
97,653
113,108
6,977
89.708
310 981
157 662
7 291
635
400 936
461 995
3 023
47 331
77 381
3 743
576,373
1502,686
CI
1,501,386
1 224.960
581 629
571,409
7 690 803
52 144
19,902,246
802 726
7 637.570
22,265
1 295,026
142 592
52,056
754.3/3
40 505
155 919
1,958779
e 137 229
3437 173
3,129 581
t 646 643
175 500
566,113
209,245
371,601
19.902.246
1 374 490
866,309
7,736.205
103.378
2126871
667,968
729,077
2,207 001
549,324
3 624 112
102489
43,462.577
10,272
3 701
120.483
28.196
154 798
497
214 998
46,607
55 951
12 683
260 599
19,628,379
10,215,451
157,802
95.681
14.922
79,008
247,957
213,914
4.478
1,174
529,356
6,857 001
11,458
64,089
25,413
4,716
1 105,959
23 834,198
C)
25 832.392
23 494.209
11259,126
11248 094
10.867,032
36,695
7 139 475
CI
Footnolo at end ol table See texl lor Explanation ol Terms and Description ol the Sampip and Limilations ol the Data ■
29
Corporation Returns/1974
RETURNS WITH NET INCOME
Table 3.— Balance Sheets and Income Statements, by Major Industry— Continued
[All ligures are esdmates based on samples— money amcunis are m thousarids ol iJolidrs|
Item
Major industry— Continued
Construction
Manutactunng
General
Total
building con-
Heavy con-
Special
Total
manufaclunng
Food and
Tobacco
Textile milt
products
Apparel and
construction
tractors and
operative
struction
contractors
trade
contractors
kindred
products
manu-
factures
other leitile
products
builders
Number of returns with net income
19)
(91
(10)
111)
112)
113)
(14)
(IS)
(16)
106.B74
38.621
9.302
58.951
137.B43
10.468
60
3.539
9.665
2
Total assets
48.554.403
21.495.614
11.738.236
15.320.353
783.833.647
60.148.520
13.775.664
13.163.485
10.443.273
3
Cash
4 869 446
2 065,436
1 123 724
1,680,264
24 141,416
2 538 967
155 093
556 949
716892
4
Notes an<] accounts receivable
15 119,791
5 898,151
3 549 577
5672,063
175,667,016
12051 178
1252899
3,228,851
3 174523
5
Less Allowance lor bad debts
126,451
24,973
38 573
62 905
3967,772
211951
CI
49 377
69359
6
Investments in Government obligations
7 135985
4 031,204
743,165
2 361616
149,699,070
13901043
3 745 730
3 837 525
3 560 919
7
United Slates
252765
106102
76881
69 782
7898,058
183.489
C)
103 565
39 495
S
State and local
160 920
65,898
62 777
32 245
2257,793
244 832
CI
22613
35,663
5
Oilier current assets
4 362 356
2 659 703
757 840
944,813
28,944 604
1985.71'
122 032
235712
354 388
10
Loans to slochtiolders
409,289
196 980
50118
160191
1 476 704
200,105
CI
19 343
46 735
n
Mortgage and real estaii? loans
364,484
272,411
38310
53,763
2,166,835
123,998
CI
3,556
8,525
12
Other investments
3 158,591
1 465,626
857,959
815006
115 920 899
8850,582
4,935,794
828827
852 820
13
Depreciable assets
17 706,612
4,929,706
7354,252
5.424.654
423 399 385
31,289 003
3,237,340
9,268,270
2 456 734
14
Less Accumulated deprecation
8716,965
2 109 179
3 905,699
2702-087
208 987,140
14,375 311
728,053
5,233 670
1 171 078
15
Depletable assets
81888
10,168
62,248
9472
26,551,088
38 168
C)
C)
CI
16
Less Accumulated depletion
21,693
2 817
16 590
2.286
9942,924
(*I
CI
CI
17
Land
1 670 700
996 949
344 166
329.585
12,693,217
1,144,769
145 132
119,597
71 431
18
Intangible assets lamortizablel
75,516
41,969
15,064
18 493
4560,760
154 751
CI
9189
30372
19
Less Accumulated amodiration
16777
5579
4799
6399
1893,787
38 709
CI
2251
7,945
20
Other assets
2,065,946
876,057
667,826
522063
33246,425
2,075563
596,317
213,461
340.272
21
Total llabimiea
<«.5S4.403
21,495.814
11.738.236
15.320.353
783.833,647
60,148,520
13,775,664
13.t63,485
10.443.273
22
Accounts payable
10 064 997
4 960 332
1 982 937
3 121 728
96575,854
7315 198
1 002 386
1 422,209
1 943 698
23
Mortgages notes and bonds payable in less than one year
6 107,327
2 767 482
935 385
1 384 460
58 559 097
4 910 468
2,202 548
1 153 902
1 100,335
24
Other current liabilities
6 149 675
2693331
1,392,098
2 064 246
64 926,834
5133,085
811015
889,688
B79 609
25
Loans trom stocltholders
945 460
379.372
127,450
438,638
4 207,772
740 329
C)
67,443
102 746
26
Mortgages notes and bonds payable in one vear or more
6 254 232
2,956,978
1,864 906
1 432348
129 761 143
9,623 061
2 686 556
1,811,644
1223.876
27
Other liabilities
5 129430
2 715206
1,005,219
1 409,005
46,604 596
2,758,107
516918
259,098
161.315
26
Capital stock
3,000 587
1026 023
740.850
1233 714
63 521,557
5 025,862
959 990
1 109559
850.955
29
Paid-tn or capital surplus
1 701 583
715641
630,042
355 900
71 968367
5,232 203
1 776 905
783,452
696.632
30
Hetarned earnings appropriated
179 703
46,416
48 145
85 142
5 343 309
350775
CI
30 250
59.312
31
Retained earnings unappropnalea
10625 too
3,377844
3 162 759
4064497
248837,552
19 690 773
3 663 207
5 781822
3,545,387
32
Less Cosi 01 Ireasurv stocK
603 691
162811
171555
269 325
6472,434
631341
CI
145 582
122,792
33
Total receipts
102,197.793
42.042.566
2t.70t.544
38.453.683
1.170.736,656
136,382,474
12,976.935
23.389.421
23.792.069
34
Business receipts
Interest on Government obligations
99 950 790
40 955356
20 989 868
38 005 566
1 130 260,696
134175,595
12 577,436
23 060 710
23,525,316
35
United Stales
18 666
8 461
5400
4,805
572,418
18,215
CI
7 001
2,133
36
Stale and local
14 173
6,250
4 494
3429
249.671
15,872
(•)
1.227
2.534
37
Other interest
408 457
224,327
104,222
79 908
6,806,382
525,194
91,426
60.045
57.604
36
Rents - .
473972
8,303
289,446
898
122029
4,034
62,497
3,371
2977,052
3,067,931
181,636
1 59.844
27,318
(■)
22.040
16.617
19.084
39
26,622
40
Net short term caprtal gam reduced by nel long term
capital loss
4692
2.594
1,817
281
79,902
12,395
C)
C)
CI
41
Net long term capital gam reduced by net short lerm
capital loss
IBt 127
95.210
49,311
36,606
3,935,642
86,042
C)
47,935
4,488
42
Net gam noncapital assets
185,308
51,675
92,706
40,927
730.061
105,434
20,266
14,421
6631
43
Dividends received trom domestic corporations
26,243
9,302
9417
7,524
8,136.197
155,142
73,292
33,899
15,274
44
Dividends received trom loreign corporalions
50,731
20 835
27,385
l"l
6.573.963
276,741
CI
7,600
1 326
45
Olher receipts
875331
378212
290 861
206,258
7 346.541
670 364
122579
117,293
130,722
46
Total deductions
98.300.206
40.678.127
20.691.122
36.930.957
1.095,459,095
130.462,027
11.784.210
22,173,982
22,742,366
47
Cost ol sales and operations
80 267814
05 238,488
16,549 359
28,479,967
839 141,347
105473.867
7649.479
17 797 448
17,851,477
46
Compensation 01 oflicers
3521412
1 121,821
463,837
1935,754
9,102,371
714,194
25.347
267,735
561248
49
Repairs
544,616
121091
232 834
190,691
14,148,731
1,061 553
98.873
210832
42,061
50
Bad debts
226 660
59517
35,508
133,635
2,219,955
169 903
12 254
47,797
66050
51
Rent paid on business properly
613,308
169,147
160,523
283,638
8,845,274
762230
221,324
160,036
239,019
52
Taxes paid
2088 883
585 743
437 593
1 065547
29278,018
3 183,407
1 181 481
533.454
523,256
53
IntcresI paid
960,346
420,545
278,451
261 349
17514,202
1514,431
420 155
342,461
265,738
54
Conlnbutions or gills
36957
12,803
10,319
13,836
645,076
98,825
5 456
20,387
16,084
55
Amortization
3,682
1,134
1 315
1,233
209,900
16,243
CI
2.277
1,324
56
Depreciation
1843 930
444,757
764,100
635073
28,627 883
2,295,907
255 822
640 284
205 296
57
Depletion
29 049
8329
18,997
1,723
10,092 449
10,539
CI
C)
CI
5B
Advertising
185 832
74,705
20,267
90,860
10,385866
2 600,660
485,028
149,957
150,579
59
Pension prolitsharing stock bonus and annuity plans
645 592
172163
162,067
311,342
11 184,937
664 888
95983
146,159
123 460
60
Employee benefit programs
374447
82,124
80,061
212.262
7584.392
480,629
100,043
70,568
76 537
61
12 584
5,490
2,428
4.666
290,578
20,677
CI
3,631
4 037
62
Other deductions
6,943095
2 160,250
1,473 464
3.309.381
106,188,116
11,394,074
948855
1 779,325
2,575,683
63
Total receipts less total deductions
3 897 587
1 364 439
1010,422
1.522.726
75,277 561
5,920,447
1 192,725
1,215,439
1,049,703
64
Constructive ta»able income Irom related foreign corporations
41,298
CI
1')
fl
3,218,718
172470
C)
3,220
CI
65
Net income (line 63 plus 64 minus 361
3,924,712
1 381,003
1,022,384
1521.325
78,246.608
6,077,045
1208,275
1.217.432
1,047.499
66
Income subiecl to tax
2,945,829
984,769
866 342
1.092,716
68.892.235
5 791,051
1 148,720
1 146.889
921.803
67
Income lax lolal
1 162 745
393,745
384 820
404,180
32 278.689
2734 640
552 597
538.679
415.728
68
Normal lax, surtax and allernalive tax
1 175,488
391,899
361,060
402,529
31 971.630
2728 261
549964
536 709
415297
69
Tax Irom recomputing prior yeai investment credit
5,810
1,093
3,141
1 576
85.328
6,299
2,615
1,834
431
70
Tax Irom recomputing prior year work incentive (WIN) credit
ri
fl
I'l
CI
336
1*1
C)
CI
CI
71
Additional lax lor tax preterences
1,440
753
619
I'l
221.395
ri
-
CI
-
72
Foreign tax credit
55,296
27,934
23.027
4,335
8.379.785
293719
CI
6.573
4,053
73
Investment credit
102,834
21 725
49.267
31 842
2 111 709
168,862
21 549
41,217
11.306
74
Work incentive (WIN) credit
Oiskibutions to stockholders
162
l"l
26
ri
5.336
136
CI
167
236
75
Cash and propertv except own stock
377,493
119.376
94,255
163,862
18,212 392
1412,937
374,657
201,057
149.081
76
Corporations own stock
43,941
20.698
13,785
9,258
1,517,747
121.563
Cl
25,508
28.743
Footnote al end ot table See le«l tot Eicplanalion of Terms and Description ot the Sample and Limilationsol the Data
30
Corporation Returns/1974
RETURNS WITH NET INCOME
Table 3. — Balance Sheets and Income Statements, by Major Industry— Continued
|AII
figuies Aie estimates based on samples— money amounts are m thousands ol dcl'a-/
^_
llem
Ma|or industry— Continued
Manufacturing— Continued
Lumber and
wood
products
Furniture
and fixtures
Paper and
allied
products
Printing and
publishing
Chemicals
and allied
products
Petroleum
(including
integrated)
and coal
products
Rubber and
miscellaneous
plastics
products
Leather and
leather
products
Stone, clay,
and glass
products
Numbtf of fetuffiB with net income
("1
iiei
(191
(20)
(21)
122)
1231
124)
(25)
8,087
19,066,579
918,553
4.609
4,534,982
226,956
2.887
24.597.340
738 562
17,941
23.325,287
1 362 503
6.025
73,102.116
1,941,599
612
154.916.247
2 714 676
4,969
15.536.586
550 94 7
1,437
2,959.246
182.493
5,707
2
Total 3BB€IS ...>.■.■...■.■•■•■•■•■•••■•■---
18.947,086
1
Casti
702-452
4
Notes and accounts recetvable
?,596,e30
1 146.849
3 466 265
5 082 91 1
14031.812
28 615 243
3 770 043
773 341
3,383,640
'j
Less Allowance lor Dad debis
44746
26,203
84 833
279 642
265 961
298218
55 656
12 248
85083
6
Inventories
Investments in Goveinmeni obligations
3,082 240
1412992
4 108451
3 029,013
14294652
10 561 783
3695519
926 909
3 269-576
7
Uniled Slates
56,933
6,586
274 475
262 538
259 381
2 569 564
40 863
C)
54-384
e
Slate and local
10517
14,239
45 673
162 253
139342
CI
59169
C)
8 738
9
Olhe( curieni assels
615939
112 329
610.455
1212971
2 055 838
6713861
196 903
68.812
580-993
10
Loans lo slochhoideis
24 708
19,396
26,636
99,480
78 866
165 781
75,839
11,491
28.667
n
Mortgage and real esiaie loans
759,614
2,415
14 834
64 660
22753
90 471
33 205
CI
13.033
12
Olher invesimenis
t 760,211
288,180
2894.883
3 084 310
11,946,831
36 505 141
1.514509
418.530
2321.502
13
Depreciable assels
It 345,650
2,022 540
19,636 792
1 1 683 959
48835.785
82 313 568
8 986,526
905.264
14,867813
M
Less AccymulateO depreciation
4.663.824
900,234
9 374 288
5532560
24,136389
39 640 920
3929447
458 087
7289,748
IS
Deo'eiable assets
1,857,502
I'l
1264,027
124 197
531 119
21.182 896
C)
CI
221,897
16
Less Accomuiaied deplelion
47.489
fl
268 987
C)
160 142
8,905.131
C)
CI
49,365
17
Land
357,776
73 108
715 276
563 285
947125
4,294 221
158 098
27 053
397,890
18
Intangible assets (amorlizable)
28,814
24,907
45267
500 465
474368
1.682 769
40,572
1.065
41.194
19
Less Accumulated amortizalion
12.120
5833
18.453
61 159
134 031
1.130772
18412
531
10094
20
Olher assels
519471
116 752
482.305
1956,222
2239168
5 314 898
419520
102 201
489597
?t
Total Itabiltties ■ • ■ • ■
19.066,579
1,490.045
4,534.982
519140
24.597.340
2,158 679
23,325.287
2036.848
73.102.116
7 696 144
154.916.247
26 434 106
15.538.586
1 556 857
2,959,248
365.792
16,947.066
22
Accounts payable
1 770,666
23
Mortgages, noles and bonds payable .n less Ihan one yea'
1,306,786
397 758
888.478
1 197 583
2 890 843
3 032 145
1092 063
263.358
646493
24
Olfier correnl liabiiiltes
1.654.322
308,332
2.182 242
2 330 022
6424717
8729 852
1,663 430
206.434
1,276,020
25
140.065
76 185
70205
227 502
526 888
175 574
144.251
34 063
143.569
26
Mortgages, notes and bonds payable m less lhan one year
3.749.097
635520
5.030.920
3 216 308
14.135,690
19331 767
3,540.707
366052
3,711,616
27
Oltier habititiei
1.450.803
100 808
1.144,837
1589314
2.707708
15 393 411
433.150
75 799
936,871
28
Capital sioch
Paid m or capital surplus
1.424.356
570,161
2,547.460
1.954 461
6.412086
11 427629
798 504
379317
1.908.963
29
2.151 808
227 300
2,264476
1.632 272
7 739815
17,592 980
1 307.275
230 982
1.626,435
30
Retained earnings, appropfialed
107 406
19,347
44 927
126.530
216152
2,217 188
41686
C)
152.281
31
Retained earnings, unappropriated
5,814,594
1 727,124
8,499.778
9,384 311
25,023 778
51497 373
4 973 981
1 040 1 14
6860944
32
Less Cost of treasury stock
222.705
46 693
234 662
369,864
671 705
915 798
213 328
44 612
286772
33
Tola! receipts
24.217.523
8,526.742
34.317.052
33.490.075
94,083.306
272.323.700
22.994.911
5.236.767
23.591.601
34
Rii^inps<; fPCPinls
22091.039
8 410,355
33,062.878
32 401952
90 471 953
258 686 486
22 515 252
5143,532
22 996.737
Interest on Government Qbligalions
35
36
United Siatfts ,.....,...
6.657
540
812
629
10,794
12,095
33015
W 374
18 296
17,626
212 155
11,051
3,472
2,867
608
214
4.059
Slate and local ,, . , . . , . .
2.138
37
Ottier inlerest .
214.916
45.425
16,513
18 148
8,590
8 396
153 697
34,960
95 187
221 591
108 434
76,997
553-694
145.596
560.159
1 459 892
917 601
296 601
85.176
37 406
43293
21,800
10581
2 607
109.303
38
42 809
39
Royallies
75 404
40
Net short-term capital gam reduced by nel long-term
capital loss
1 574
fl
CI
763
3817
C)
CI
I'l
525
41
Nel longlerm capital gam reduced by net short-term
capital loss
Nel gam, noncapital assels
Dividends received Irom domestic corporations
1.383,203
6148
576,179
140 343
293 666
235017
18 665
3,601
95316
42
56,073
9.433
16 860
35 727
62 146
94 823
11552
595
22761
43
166,548
1,500
70,353
55 766
383.787
5 994 148
17 604
12112
39374
44
Dividends received Irom loreign corporations
51,391
3,580
151 888
57,759
902771
2 867 405
85 502
C)
64016
45
Oltier receipts -
183544
22,370,751
16060.531
61,119
8.095,268
6043,984
131,706
31.168.041
22,543,828
346 31 J
30.627,2%
20.789,661
669,595
85.314.865
58 473 969
1 513599
253.066,681
215 516 227
173 961
21.982,036
15 665 542
40 544
4,985,575
3,752.356
139 159
46
47
Total deductions . . ,
22.375,206
Cosi ol sales and operations
15,567.222
48
li^ompensation ol oHicers
316.096
199,459
263.987
907 763
595.010
175 375
324 519
95.779
362.219
49
50
51
52
244 710
45,973
208,213
37,636
28,099
101,885
763,076
51895
255 589
177577
203635
445 637
1 576,271
171.602
848.217
1924 158
227 258
1,563 480
304,713
64 114
301.597
35 431
12714
95 593
624 450
RtH Hohit
86.580
226.465
Taxes paid
Imeresl paid
Contributions or gills
Amonnalion
622.634
221.057
842594
979,078
1.941,674
6,100 467
670 172
127 181
685,208
53
496,937
106.716
460.033
413700
1,313.075
3094 110
461.435
76.867
396 145
54
10,570
5.018
30,908
34449
76,481
72015
7992
3 990
15 932
55
5,523
1 029
11.156
9113
23.273
20 186
3 918
508
6180
56
Depreciation
Depletion .,
Advertising
Pension prolit-sharinq stoci" bonus, and annuily plans
829,883
155.609
1,183918
836 005
3.261.134
3,706,575
724 408
65 034
1.002117
57
1,334 180
CI
222 690
45 465
232 161
7414,215
C)
—
72 892
58
84,172
76564
196 052
247417
2 746 428
269 913
241 485
58 369
131.746
59
126567
55 805
335 555
382,660
1 141 713
883 009
327 287
34 189
296.327
60
61
62
Employee benelil programs
Nel loss, noncapital assels
66 800
3,398
1,914,544
48,449
586
1.012.899
209 935
2773
3794,052
222775
14,824
5067 537
506,183
15 880
12.391 794
317182
110 242
12.692 269
174.998
8.043
2.700 555
26 169
841
600 554
223 890
5.860
2671.973
63
Total receipts less total deductions
1846 772
433474
3 149011
2 662 779
8 768 44 1
19.235 019
1012 873
251 192
1 216,395
64
Construcliwe ta<able income Irom lelaled loreign corporations
|-|
!■)
95 554
31 963
477 714
957 666
12618
C)
51808
65
Net income lime 63 plus 64 minus 36)
1,873,249
434 802
3 232,470
2,683388
9.228.529
20 181 634
1,022 624
251 442
1 266.065
66
67
68
Income sub|ecl to tax
Income tax, total
Normal lax surtax and aiteinatiye lax
1.783.735
402.331
3,145 570
2,476,974
8.687 217
14.358.692
952.094
227,104
1.139.619
624,415
182,370
1 397,539
1 129,231
4,207,000
7 037 872
436 718
104,636
517.258
611,767
182.057
1,393.772
1,126.329
4 192,738
6 844 473
434 214
104,427
511.822
69
Tax from recompulmg prior year investmeni credit
2,898
257
2,173
2,707
13 189
7 620
2504
166
2.503
70
71
Tax Irom recomputing prior year work incentive (WtNl credit
Additional tax tor tax pieleiences
f)
9.744
n
CI
CI
CI
C)
C)
1*)
CI
185 779
-
(■)
(•)
C)
2.925
72
73
Foreign lax credit
Investment credit
37687
3.376
137,647
52,548
776.660
4,611646
56 842
1.575
74.758
72.285
9.702
102,983
60 998
278,440
312 784
54674
3608
75.194
74
Work incentive (WIN) credit
95
164
174
159
143
C)
148
122
91
75
76
Distributions to slocvhijioers
Cash and properly excepi own stock
Corporation s own stock
341.272
88 549
59.986
C)
640.253
20 541
591 649
12718
2,619656
107 557
3,983 071
CI
247269
63412
CI
361-418
C)
Foolnole at end ol table See tejil for Explanation of Terms and Descfiption ol the Sample and Limilalions ol the Data
Corporation Returns/ 1974
31
RETURNS WITH NET INCOME
Table 3. — Balance Sheets and Income Statements, by Major Industry — Continued
|AII tigufes are estimates based on samples— money amounis are m thousands ot JollarsI
^~
lleffl
Major industry— Continued
Manutacturing— Continued
Primary
Fabncaled
Machinery,
Electrical
and
electronic
equipment
Motor ve-
Transportation
equipment,
except motor
vehicles
Instruments
Miscellaneous
manutacturing
metal
metal
except
hicles and
and related
and manu-
industries
products
electncal
equipment
products
tacturing
not allocable
Number ot returns with net income
(26)
127)
(28)
(291
130)
(31)
(32)
(33)
1
J,764
18,161
16,289
6.202
1,471
2,309
3,579
6.642
2
Total assets
75.076.310
31,622,255
65,537.183
60,161,355
65,432,311
27.342,295
857,448
13,136,153
316292
10,987,372
556 783
3
Cash
2 065 503
1 603,802
2090 763
1,880,280
1443,903
4
Notes and accounts receivable
11%7 453
: 193 985
16,144,319
17516175
29 403,806
5 083 557
3,004619
2.758717
5
Less Allowance tor bad debts
169 605
154,730
472747
374,426
1079 714
64 225
47 496
80713
6
Inventories
Investments in Government obligations
1 1 824 61 1
9,128 487
18468126
13,249,900
12180,121
8 665 916
3,552 352
3003 203
7
Umted States
436 549
91,546
2246,263
77,985
893,844
60379
135755
65 087
e
Slate and local
379,411
55-391
334 632
38,833
172343
CI
290 547
67 339
9
Other current assets
3 668,182
747 659
1 991,127
5013,110
918,150
1.061.576
493 744
285104
to
Loans to stoclihoKJers
30,622
59 525
61262
86,743
84,595
26717
9421
52 663
;i
Mortgage and real estate loans
36,481
32934
25452
34,196
76,315
357 402
15 286
422 636
12
Other investments
8 613,896
3156,606
7 643 557
5,965,284
5892,204
4.034 167
1 230 569
1 160.494
13
Depreciable assets
54 755186
16007,044
31 366.526
23,241,666
28,488,250
12 284 587
6 712 277
3 672.603
14
Less Accumulated depreciation
29 361,321
7847,116
16531 532
10 553 690
16,052,083
6379 530
3112055
1.716 204
15
Oeplelable assets
1,013,450
105,048
35 584
24 659
(')
(*l
CI
(*l
16
Less Accumulated depletion
410723
n
1*1
8652
1*1
CI
CI
C)
17
Land
838 133
553 993
600.080
461 157
424 640
463 604
201 739
135 110
18
Intangible assets tamorli7able)
492 536
136,625
293.786
223212
67,772
72 778
77 224
131.043
ID
Less Accumulated amortization
89 528
49 983
143.917
81655
10 227
14,042
27 547
32.425
20
Other assets - . ,
8 983 272
621 199
1362047
3 386 578
2 401 993
593 970
282 759
458 860
21
Total liabilities
75.076.310
31.622.255
65,537,183
60,181,355
9 460 247
65,432.311
27.342,295
4,816094
13,136,153
1,145 669
10,987,372
1 146758
22
Accounts payable
7,360,371
4 036966
6733971
6161,998
23
MoMgages, notes and bonds payable m less than one year
5 152,740
2,356,488
5,681 588
5 806 119
14,076,032
2,488334
715734
999.300
24
Olhei cuireni liabilities
6 279552
3 034,936
6 272 024
5 405 896
4,708,945
3574,957
1,388592
1573 164
25
Loans Irom stockholders
143,234
398 468
351665
274,785
90.781
128,678
1 1 7,863
191,617
2$
Mortgages notes and bonds payable in less man one year
14 577 787
5048386
10216772
10647,307
13.098,813
4 106 761
1,174,035
1.626.446
27
Other liabilities
6,225536
1 309,872
1 791 123
5,985,641
1 930.519
1 156 860
317,015
359,691
28
Capital slocK
- 069 406
2 988 862
8025 835
3,540 255
2.559.750
1,677 630
1.233,677
656,837
29
Paid in or capital surplus
6 361386
2 223 467
5419 195
5,687 622
3893 683
2 406 082
1 536.885
975 290
30
Retained earnings appropnated
418 280
105 297
603 321
164,629
238.781
55 638
61.190
14,705
31
Retained earnings unappropriated
21907,925
10 561,276
20 826,542
13497,601
18821.905
7 021245
5 521,612
3,176,060
32
Less CosI ot lieasury stoclr -
419911
441 765
366 853
489 147
148 896
291 984
76339
132,496
33
Total receipts •
90.467.392
54.329.269
82,237,022
71,186,959
88,332.508
86.125 936
36,146,525
35,204.840
17,296,169
16.621 142
15,416,236
14,979.519
Business receipts
88 103111
53353,669
78,087,379
68,665,859
Interest en Government obhgalions
35
Uniterl States
18971
6746
139,109
10175
50 806
8190
13.230
5.875
36
Slate and local
16739
2159
31,769
86,250
19,581
2.163
9 753
3060
37
Other interest
795 888
176,763
715060
550,827
460 486
279,936
96 101
166.613
36
Rents
179,405
73560
421 732
320,441
220,314
112229
22.679
25.212
39
Royalties
60 596
44 994
1012.925
291, %3
52,659
73 737
91.997
22.460
40
Net shod term capital gan reduced by net long term capital loss
2,239
109
5111
5,609
CI
CI
C)
CI
41
Net long term capital gam leduced by net shod term capital loss
127710
84,672
143194
262 734
300,557
69,625
27.181
22.937
42
Net gam. noncapital assets
30.310
19.974
64.432
76,449
36.986
32,168
4.685
6315
43
Dividends received Irom domestic corporations
166,547
41.012
226,368
248 927
159.998
151605
102,669
20.132
44
Dividends received trom toreign corporations
249 714
95 443
714493
321 548
518.061
13,519
149.647
25.229
45
Other receipts
716 162
428.146
675,430
344 177
380721
197,930
164,838
138.638
46
Total deductions
64.158.565
50.535,211
75,176,111
67,656,403
65.744,230
67 413 637
34,717,299
26 736,351
15,532,108
10506634
14,568,862
10.278.737
47
Cost ot sates and operations
64 742,318
38171.720
50,965,696
46.938 661
46
Compensation ot olticers
415019
1.135.456
1 164,658
59^,259
176075
200,237
213401
374.333
49
Repairs
3662,776
644.314
690,173
496,862
880.786
325 609
244,491
100.177
50
Bad debts
125753
159 409
202,635
257 691
151303
44 649
31,677
56.964
51
Ren! paid on business pioperty
460 405
466376
770329
696,613
400.616
289 769
162 831
167.050
52
Taies paid
2 119,831
1 353.039
2,406,423
1,989,787
1982.295
991062
450,611
371.307
53
Interest paid
1 774 642
742 893
1454,480
1,865,535
2102 307
600 543
205 263
366,736
54
Contributions or gills
62,648
32.613
57,732
29,681
28.602
13743
12,297
9,453
55
Amortization
45,490
10 737
14,085
8,241
12.770
3,810
5.521
3.651
56
Deprecialicn
2761 130
1 187.231
2 866,941
2 309 099
2513.457
972.432
497 953
307,648
57
Depletion
593,221
13 167
19,947
20 768
10,612
18915
C)
CI
58
Advertising
162,647
324 423
535,479
640,645
503,132
105 715
375.327
300,126
59
Pension protil-snaiinq. stock bonus and annuity plans
1438,912
606 631
1 093,688
768,494
1 696,965
594 438
265309
102.676
60
Employee benelit programs
866,690
365.933
692,854
697,341
1,825,462
396 608
129135
86.211
61
Net loss noncapital assets
18,098
25,295
24,554
17,205
10171
365
1.795
1.807
62
Other deductions
4908 783
5293,972
12 214 035
10321,521
6,034,040
3422 853
2429005
2.019.793
63
Total receipts less total deductions
6,308,627
3794,056
7 060 911
3,530,556
2,588278
1429.226
1 764.061
847.374
64
Constructive taxable income trom related loieign coiporations
103 123
59,293
614,275
201,325
265,146
10 246
78,968
17.981
65
Net income (line 63 plus 64 minus 36)
6 395,211
3851,192
7643417
3,645,631
2.653,843
1 437 289
1833,276
862.295
66
Income subiecl to la«
5 680 790
3 554 775
7291,211
3,371,722
2.799.835
1285 271
1 752 382
774.450
67
Income tai lolat
2 707 529
1 628 756
3425215
1567 333
1 290 939
601 415
826850
351.969
68
Normal ta> sunai and alternative tax
2 688 333
I 625,610
3,415535
1551,199
1 285,227
597 684
825161
350.851
69
Tax trom recomputing prior year investmeni credit
4994
2,907
9.453
11,586
5 464
3.343
1,688
677
70
Tax Irom recomputing piioi year work incentive (tWIN) cierlit
1*1
f)
n
74
CI
CI
1*1
(*l
71
Additional tax lor tax prelerences
14 197
t')
CI
f)
CI
C)
-
(*)
72
Foreign tax credit
371 719
67,609
637,548
275627
404,029
26.615
126,224
25.411
73
Investment credit
273 407
92,973
174,567
129 469
114 698
59 966
33,105
19.902
74
tWoik incentive (WIN) criidit
Dislnbutions to stockholders
416
507
588
616
W4
727
107
65
75
Cash and property except o*n stock
1 166 347
528 759
1 756 159
1 143 517
1 608 639
359 S6,^
485 ,'79
118172
76
Corporations Own StOC"
68718
60 382
27 503
15 962
1")
1 . 1,67
'
5 360
f^ootnote al er>d ol table See lexi lof Eipianalion of Te'ms ai>d Description ol the Sample and Lifniiations ol the Data
32
Corporation Returns/ 1974
RETURNS WITH NET INCOME
Table 3.— Balance Sheets and Income Statements, by Major Industry— Continued
|Ali (igmes are eslimales based on samples—money a^nounis d'e m thousands ol duilafs
Item
Maior industry— Continued
Transportation and public utilities
Wholesale and retail trade
Total trans-
Eteclric.
Total wtiole-
INbolesale trade
portation
Transpor-
Communi-
gas. and
sale and
Total whole-
sale trade
Grocenes
Machinery.
Miscellane-
and public
tation
cation
sanitary
retail
and related
equipment.
ous whole-
utilities
services
trade
products
and supplies
sale trade
Number ot returns wilh net income '.
(341
1351
(36)
(37)
I3BI
139)
(401
(411
(42)
47.197
322,777.492
5 6J6 179
36,353
78,779.137
3024466
5.700
109.650.387
1 028 794
5,144
134.347,966
1,572919
403.036
263,827,356
18,384 629
158.842
139.965,615
10 404 324
15.195
11,234.221
948 187
34.990
23.788.674
1.594180
108,657
2
Tf^lal AQ^^tQ , ,, .. ...,,
104,942,520
3
1 UIOI 033d9 .-.,.,.,.^. ..».».»--....--..-•■-•.•''
Cash
7,861.957
4
Nole5 and accounls receivable
20 001 173
9 211940
4020 59?
6 768 636
76 715 669
49 119 966
3.657 758
8.114.%3
37 147,247
5
Less Allowance lor Dad debts
334,886
133,944
105,392
95 550
1 714 443
768 210
72,916
147.232
548.062
6
Inventories
Investmenl in Government obligalions:
10,398,599
2,143,745
3 522,996
4 731858
82 774 579
40 405182
3,276,334
8,684 061
28,444,787
7
United Stales
2,664,096
248932
1.281.711
216.075
1 165,399
27,651
186,986
(■)
589 230
306,453
324.490
184 929
13,750
11,973
62.565
12913
248,175
e
Stale and local
160,043
9
Olher current assets
9,547,033
3012,167
3,975.379
2559 487
7541 801
4 126418
304 529
494 622
3,327,267
10
Loans lo stochbolders
192,811
161,158
24,228
7425
1,207 668
548.547
56.652
87.452
404,443
11
Morlgage and real eslaie loans
Olher inveslments
443130
304,653
CI
10.852
544 487
225305
22 464
18667
164,174
12
25 507 650
9,926,023
6,035,161
7,546,466
21860,921
13,457 563
572,512
1,320,076
11564.975
13
Depreciable asseis
Less Accumulated depreciation
31B605910
68,346,844
109,105,678
141 153 388
74.310.002
29,013,363
3441 171
4567,455
21004,737
14
81299 592
22 974,940
23 458 931
34 865,721
32,325.523
13 148,778
1 653 840
2,030,266
9,464,672
15
Depletable assets
539,658
169,933
121,215
35,395
Cl
CI
416755
133 157
533 636
137,571
372,280
99 392
Cl
C)
34 454
12.144
337,158
16
Less Accumulated deplelion . . -.
87.117
17
Land
3067592
1,198 400
459 557
1409635
6 047,702
2-081 162
172,663
303511
1,604,988
IB
tntangtble asseis (amorlizable)
880,105
211,054
552 244
116,807
769 705
413,582
20,101
52 823
340,658
19
Less Accumulated amorliialion
244,324
42,619
158,767
42,938
216,398
102 095
6113
13,895
82,087
20
Other asseis
7,113 358
2 806,584
1 307,860
2 998,914
6 634 809
3,406977
268,459
644.669
2,493,849
21
22
Tolal liabililies
322,777,492
11677,655
78.779.137
5 283,980
109.650.387
1 740 998
134,347.968
4 652 67-
263,827,356
54 700 201
139.965.615
32561268
11,234.221
3,163 775
23.788,874
5013353
104,942,620
Accounts payable
Mortgages, noles, and bonds payable m less Ihan one year
Other Current liabilities
24,384,160
23
17,682,968
5103,400
5 369 109
7 210 459
35,?13,789
20,846 152
1 310254
4.048.990
15.486,908
24
18,431 311
6,851651
5 754,536
5.825 124
20,886,907
10,241 241
882 143
1 935,946
7.423,152
25
Loans from stocklio'ders
852,485
559,799
143620
149 066
4 925 209
2375,639
252,505
403,649
1.719.485
26
Mortgages, notes, and bonds payable m less Ihan one year
Other liabilities
119,364,214
21.251 153
41 117.954
56.995,107
30,699,81 1
12 650,874
1,246189
2.129.723
9,274.962
27
21 326 807
7,217,375
6,867,977
7 241,455
7,231 579
3,099,337
344 137
404.293
2,350.907
26
Capital slock
Paid-in or capital surplus
Retained earnings appropriated
Retained earnings, unappropriated
Less Cost ol treasury slock .
50,045,590
7 043.001
16,156,413
26,846 176
21.845,260
10,950,962
934 636
1.802,714
8,213.612
29
27 956,400
6,192,687
13 365 158
8398555
14,835031
8,084.246
335,352
797,702
6,951.192
30
969 502
692,168
104,818
172,516
1062,445
598.624
30184
64,378
504.062
31
55,100 631
18 982,671
19 132,086
16,985 874
74,569.016
39,911,874
2,844 631
7476,297
29.590.946
32
630,071
398748
102,282
129,041
2641,892
1354 622
109 585
288.171
956.S66
33
34
Total receipts
180,591.225
174.879.324
77,658.607
73 859 660
49.430.326
48 652,819
53,502.292
52 366.845
793,255,864
779 650 954
446.058,769
439,261 628
68.662.352
68003,802
56,691,663
55.478.078
320,704,754
Business receipts
315.779.748
Inlerest on Government obligations
35
United States
83203
54,207
17 397
11 599
63,069
37,434
2,387
4.764
30.283
36
Stale and local
21 304
14 366
4 604
2 334
25,118
17 941
2,943
1877
13.121
37
Olher inletest
1269.920
615 788
289 258
364874
3.025 543
1,769,895
73 185
290.964
1.405,746
36
39
40
1418.778
153,421
1058,317
78,666
177 268
59919
183.193
14.836
1 726.648
119 065
563 541
67,275
59,769
2,928
177,392
23 547
326.380
P
40,800
Net short-term capital gam leduced by net long-term
capital loss
29,686
3351
CI
12.694
22.325
17302
Cl
2,368
14,732
41
Net long-term capital gam reduced by net short-lerm
capiial loss
Net gam. noncapital asseis
Dividends received Irom domeslic corporations
546 709
395 752
27 754
123,203
421,753
189 652
12713
23 306
153.633
42
484 169
4 18,389
24 756
41,024
247,809
137 475
11,213
35.956
90.306
43
160 545
83 107
19888
57,550
411821
344 740
9,551
30.164
305.025
44
Dividends leceived Irom loreign corporations ^
Other receipts
85 839
53933
CI
Cl
248 259
176237
Cl
7 206
166.365
45
1,458,327
1023,071
116 026
319 230
7,293,500
3475 649
482,993
616041
2 376.615
46
47
Total deductions .......... •
169,596.278
105 490 947
1 567 778
444 538
73.758.441
49 445,026
1 138137
189,826
45.730.273
25 193,426
211232
60,424
50,107,564
30852.495
218,409
194.288
765.964.701
608 125 964
12766706
2,417 701
427,854,365
366 103,688
6,867372
981,253
67.529.807
59 673 795
725 831
153 697
52,951,075
41655,061
1 480 859
141,146
307.373,483
Cost ol sales and operations
264.574.832
46
49
50
51
52
53
54
55
Compensation ol officers .
4.660.682
Repairs
Bad debis
Rem paid on business properly
686.410
840 678
363 164
303577
174 137
1 761,795
905,252
81209
163 740
660.303
3,966 441
3069,460
585337
311644
9,290,754
2.257936
305 136
365,351
1 587.449
Ta.es paid
Inlerest paid
Conlribulions or gilts
Amodization
10.322,177
3,523 339
3,052,182
3 746 656
10 770 895
4721,472
437 901
616,231
3.667.340
9.454 002
1987,805
3112,011
4354,186
7177,986
3,550 446
250,112
554 052
2,746.282
97038
37 368
30 449
29,221
220,656
119 158
9,998
18526
90.634
220.937
173 778
6,954
40 205
57 673
32,920
1,139
2 387
29.394
56
57
56
59
Deprecialion
Depletion
Advertising
Pension, prolilstnanng. slocli t)onus and annuity plans
Employee benelit programs
Net loss, noncapital asseis
Ottier deductions
17.214.070
4,306,372
7,211062
5696,616
6486759
2,546,636
332,327
513771
1 700,538
276.459
80 380
Cl
195,933
270 117
235,586
529
8,314
226,743
626,552
326,229
237105
63218
6,374,846
1 271.881
150689
222,013
899.179
3,050.238
870,048
1617 461
562 709
2.400877
1270 294
146,301
251 879
872.114
60
61
62
1413,289
36.729
538,779
24 909
639,697
2,760
234,813
11 040
1,282,809
58 328
488,645
21 607
86 475
3,158
86777
2 780
315.393
15.669
14 572,205
7683,821
3 466 390
3421994
96 500 935
36 460,219
4971,510
6,668,188
24 640.521
63
64
65
66
67
66
Tolal receipts less total deductions
Constructive ta.abte income trom related loreign corporations
Net income lime 63 plus 64 minus 36)
10 994 947
44 458
11,018 101
3 900 166
21832
3.907,632
3,700.053
Cl
3710,648
3 394,728
Cl
3.399.821
27 291 163
120,614
27,386.659
18,204 404
65.135
18,251 598
1 132,545
Cl
1 130310
3,740588
Cl
3.745,129
13.331.271
58.009
13,376,159
Income subiect to la.
10 101 528
4,714,427
3,185.600
1.420 538
3,641 119
1 743,984
3274,809
1 549,905
19,338 626
8312377
11,716 450
5.140,007
877 081
378,319
2,123.025
911.404
8.716.344
Income la., total
Normal la., surta. and alternalive tax
3,850.284
4682,739
1 ,408 234
1 730.317
1,544,188
8,291,703
5.127,206
377 261
907.974
3,841,971
69
Ta. Irom recomputing prior year investment credit
24 963
5,932
13,655
5376
16592
31
4,051
9 107
21
3 673
1,058
Cl
3,178
4.871
15
3.427
70
71
Ta. Irom recomputing prior year work incenlive (ttVIN) credit
Additional tax tor ta. prelerences
CI
6.710
n
6 369
Cl
Cl
Cl
Cl
72
73
74
Foreign lax credit
Investment credit
Worli incentive (WIN) credit
95,829
45850
31,384
18.595
388,167
285 976
1,087
12,204
272.685
1,112013
406
360 559
115
466,338
198
285116
93
394 788
939
165,599
522
18560
55
32,527
139
114.512
328
75
76
Distributions to stoclrbolders
Casn and property e.cept own slocti
Corporation's own sloclr
6 771,550
144 934
1,016,309
63 087
2627,191
8.969
3,128,050
72,678
4,211 607
332,564
2,566,936
217,464
125738
22,274
544 923
32 375
1,896.275
162,815
Foolnote at end ol table
Limitations ol Itie Data
Corporation Returns/ 1974
33
RETURNS WITH NET INCOME
Table 3.— Balance Sheets and Income Statements, by Major Industry— Continued
lAII
figures are esltmates baseO on samples-money amounts are m thousands ol dcllarsl
Maior industry— Continued
Wtiolesale and retail trade— Continued
Retail trade
Nan
Building
Wholesale
Total
retail
trade
materials.
garden
supplies.
and mobile
home dealers
General
merchandise
stores
Food stores
Automotive
dealers and
service
stations
Apparel and
accessory
stores
Furniture
and tiome
furnishings
stores
Ealing and
drinking
places
Miscellane-
ous retail
stores
and retail
trade not
allocable
Numb«r of returns with net inconte
(43)
|44)
(45)
(461
(47)
148)
(49)
(50)
(51)
152)
t
243.699
21.909
7,363
17.148
41.634
27.378
22.108
40.854
65,505
16.651,159
295
88.725
J
Total assets
123.773.016
8.459.218
40,794,306
15 474.891
20.185.125
7.307.668
6.519.243
8.381.406
3
Cash
7.976.512
700014
1 307 887
1 138607
1 305 380
612 922
508 660
844113
1 358 929
3 793
4
Notes and accounts recewat>le
27572.558
2 031 626
14.321 273
1 206.172
2 939 138
1 387.806
1 929 274
B20.763
2936 506
23 143
5
less Allowance lot bad detjis
945 832
65.577
578.741
17661
77 113
354%
54.078
17 084
100 082
6
Inventones
Investments m Governmenl obligations
42146 947
3151.643
10622044
5512.417
1O420.852
2 951 104
2 639.197
510199
6539491
22450
7
United Stales
264.740
12,789
58.468
80.456
28 927
24.815
14.214
9.546
35.525
_
8
Stale and local
121 184
(•)
34.471
28971
3473
6.741
9.655
Cl
7613
Cl
9
Othef current assets
3.413006
194 196
779 351
520 932
528 608
224.262
130129
255 876
779.652
Cl
\0
Loans to slochholders
659.113
55 325
25 255
56100
127 523
95.501
55.644
97.477
146 288
C)
11
Mortgage and real estate loans
319162
65 243
19947
49.940
65131
8 617
14 109
46506
49689
1?
Olbpr investments
8 401 110
4 36 954
3583731
1 156.958
697 792
494 551
256 -73
775 637
998.714
C)
13
Depreciable assels
45.257 030
2524.364
13600.191
8 961 542
5 132 779
1.927415
1.330729
6.160.208
5619.802
39 609
14
Less Accumuiaied depreciawn
19167,603
1.169 252
5.127 363
4.077.162
2 177.289
919413
600476
2 398,277
2 698.371
9 142
16
Deplelable assels
161356
20.982
1")
(■)
18.963
CI
C)
C)
46.240
_
16
Less Accumulated depletion
38.179
4186
(•)
CI
2201
Cl
C)
Cl
C)
_
17
Land
3 964 609
300.170
1276 309
497 046
735 353
83 405
123 834
606 178
352314
C)
18
Intangible assels (amorliiable)
356 123
10.646
31,274
31 624
26 058
10389
7.514
144,040
94578
19
Less Accumulated amoniiation
114.303
2.226
8797
10.766
10565
4 182
3.460
43.074
31233
_
20
Other assets
3.225463
188 946
790.725
348.361
422316
238 747
155 485
541.565
539 318
Cl
21
Total hablinies
123,773.016
8,459.218
40,794,306
15.474.891
20.185.125
7.307,668
6.519.243
8,381,406
16.651.159
88.725
!1
Accounts payable
22 120 991
1242 159
8.916369
3 535 843
1 945 5-15
1 323 094
1062 462
879.770
3 215 749
17 922
23
Mortgages notes and bonds payable m less
than one year
14 661 40*^
918.762
2.659.252
736 097
7494 990
378.798
725 958
504.927
1 442.622
Cl
24
Other current liabilities
10642263
579.027
3.958.449
1 567.353
1410.732
595 732
518.754
703.451
1.308.765
3.403
25
Loans Irom slochholdeis
2 545 591
258452
371915
144.390
450717
216 547
236941
345244
521 385
C)
26
Mortgages noles and bonds payable in one
year or more
18.023.752
1 159819
6698 436
2.326,107
2 124.832
749.838
629 783
2 195.642
2 139 295
27
Other liabilities
4 124.463
212641
1 781 260
473 653
320.807
201 461
365 355
261024
508 262
Cl
28
Capital stock
10 887 581
1074 153
2 581.173
1 175696
1,818072
875.523
768.262
806.956
1 787 746
6717
29
Paid in or capital surplus
6 748 684
314 692
2.337 425
1 432265
381 773
343.347
346.695
692 189
900198
C)
30
Retained earnings appropnaled
463 821
44601
124 927
79 732
51051
21204
57 612
25 880
58 814
31
Retained earnings unappropriated
34 641 327
2 797 388
11603.835
4 149.661
4.415604
2.706 395
1 899 630
2087.880
4 980 934
15815
32
Less Cost of treasury slocli
1 286 763
142 476
238.735
145906
228 998
104 271
92 209
121.557
212611
Cl
33
Total receipts
347,074,706
20.393,689
71.677.543
85.050.910
73.819.778
17.036.910
14,751.337
20,598,215
43.676.324
122.389
34
Business leceip's
Interest on Government obligations
340 272 371
19 945 265
69 794 625
84 132 421
;2h99 0"6
16672038
u 167 973
20rt78 415
12 782 558
116 955
35
United Stales
25.635
833
4.971
5 373
3 888
2388
1 471
895
5816
36
Slate and local
7 165
180
561
1.911
2.274
442
405
Cl
609
Cl
37
Other inteiesl
1255.176
87 660
381.234
90279
360 922
66 158
102 255
52 932
113736
C)
38
Rents
1.160.401
77.579
325199
241.395
219.605
51.935
31530
94.996
118162
C)
39
Royalties
51.790
183
742
3621
6 773
Cl
C)
25-268
10.991
40
Net shon-term capital gam reduced by net
long-term capital loss
5.023
2700
(•)
312
526
C)
C)
Cl
276
—
41
Net long term capital gam reduced by net
short term capilal loss
232 101
22 753
33.083
25.142
31.297
12.375
16477
55.352
35 622
C)
42
Net gam noncapital assets
1 10 326
8290
7245
20.431
25 119
4.040
2013
26.797
16.391
Cl
43
Dividends received Irom domestic
corporalons
67.081
7.421
15.355
7 951
5680
11.010
3609
6.140
9915
_
44
Dividends received trom toreign
corporations
72 022
D
ri
II
Cl
C)
2354
45
Olhei 'eceipis
3815615
240 825
1 046 697
521 '82
534 0n3
316 296
420 907
254 921
579 694
(■)
46
Total deductions
337.991.811
19.578.787
70.001.208
83.791.022
72.528.018
16.288.955
14.232.253
19,587,723
41.983.845
118.525
47
Cost of sales and operations
24194703?
14524 059
43908 133
66 401 173
59 936 824
10 070 423
9 122 404
9.120136
28 863 894
75.239
48
Compensalion of olficers
5 893 506
594 1 JO
249 475
482313
1.287.227
583.527
583.338
679 822
1 433.674
5.828
49
Repairs
1 4 36 040
85142
329.216
334 137
184 329
56230
49 876
235.537
161 573
C)
50
Bad debts
855909
112575
292 213
39 386
109 827
48.816
60 483
16.964
155 645
C)
51
Rent paid on business property
7 031216
247.884
1584.706
■196 496
722 731
887 306
380864
963.870
1.047.359
1.602
52
Tares paid
6.046 952
370.612
1 598 532
1012 175
871 340
357.770
279 245
739.447
817 831
2471
53
InleresI paid
3 625 600
206.648
1 532 051
274 597
788 703
111011
151740
227.907
329.943
1 840
54
Cpnifibulions or gifls
101 472
5.769
36.283
15 589
11.728
8102
5 037
4.940
13 944
Cl
55
Amortiialion
24 753
284
5302
1.229
2-243
2 486
665
9.757
3.787
56
Depreciation
3937 312
227 497
974.185
819.323
538 775
173 998
124 829
540.190
538.510
2.811
57
Depletion
34 524
1679
CI
C)
18016
Cl
C)
Cl
10.462
Cl
56
Advertising
5102 038
195.414
1.791,413
723595
556 252
340672
461 797
343 506
687.389
Ci
59
Pension piofil-sharmg slock bonus, and
annuily plans
1 129.526
76 501
309 348
302 947
111214
72.746
57.175
48,104
151490
Cl
60
Employee benelit programs
793999
37 233
177.404
293 542
98 133
36.363
21.580
49 799
79.946
Cl
61
Net loss noncapital assels
36721
1819
8 032
3.584
3.062
3.515
2.191
7.617
6701
62
Other deductions
59 995 204
2 891.527
1 7 202 626
11.890 482
7 285 615
3.535333
2 907 140
6 600784
7.681697
25512
63
Total receipts less total deductions
9 082.895
814 902
1676335
1 259 888
1361 760
747955
519.084
1 010 492
1.692479
3 864
64
Constructive taxable income Irom relaied
loreiqn corporations
55 479
—
CI
ft
CI
—
Cl
C)
C)
—
65
Net income (line 63 plus 64 minus 36)
9 131 209
814 722
1 728481
1258 984
1 359 706
747.513
519.066
1 010 244
1 692.493
3 852
66
Income subtect to lar
7 620 409
640.237
1667 033
1 110 685
1 129 784
625 209
406 669
694336
1346456
Cl
67
Income tai total
3 171 613
245897
779.154
494.905
439-213
250 366
147997
276.781
537 300
Cl
68
Normal lak. sunai and alternative ia>
3 163.760
245 439
777.055
493.460
437 356
249 998
147.851
276049
536.552
Cl
69
Ta« from recomputing prior year mvestmem
ciedif
7465
455
1758
14-12
1833
368
146
715
748
Cl
70
Tar tiom recompuling pr«r year work
incentive (WIN) credit
10
(■)
—
CI
CI
—
—
C)
Cl
—
'1
Additional la» lor lai prelerences
fl
-
CI
~
Cl
-
-
C)
-
-
72
Foreign la» credit
102 191
1")
66.211
1 286
Ci
C)
Cl
C)
2 760
_
73
InveslmenI credit
229.009
10.274
63 875
65.154
17 942
9215
3 652
30 783
27 914
Cl
74
Wntk incentive (WIN) credit
Distributions to sloe 1 holders
417
f)
71
111
63
Cl
Cl
103
14
75
Cash and property etcept own stock
1 644 557
88 291
735 255
265 632
114 980
72 840
39 348
145 676
182 535
Cl
76
Corporation s own slock
115 100
13 897
15057
38 018
4 878
Cl
Cl
Cl
11 74 7
Fooinolc at end ot lablc Sec ie«l lo< Eiplanalion ot Terms and Dcscnpliun ol Ihe Sample ana Limilations of ihc Data
34
Corporation Returns/ 1974
RETURNS WITH NET INCOME
Table 3.-
-Balance Sheets and Income Statements, by Major Industry— Continued
|Ail ligutes are eslimales based on ^.in'i_.-
> are in Ihousands ol doliars|
Maior industry— Continued
Finance, insurance, and real estate
Holding and
Item
Total linance
insurance, and
real estate
Banking
Credit
agencies
other than
banks
Security.
commodity
brokers and
services
Insurance
Insurance
agents.
brokers, and
service
Real estate
ottier
Investment
companies
except bank
holding
companies
Number ol returns witti net Income
(531
(54)
(55)
(561
1571
(581
1591
(601
,
248.323
12.030
2B,0J9
2.190
5,961
22,733
148.974
28.406
2
Total assets
I.746.6B0.983
939,292,727
338,024,372
18.005,832
313,597,803
5,312,678
52,812,053
79.636,018
3
Casti
174,270215
153,567840
9668,388
800 551
3 533 766
1017 746
2 849.778
2.832.146
4
Notes and accounts receivable
528 127 900
464 215,653
40 920 067
5 899 364
4.800 337
2 156 750
6.144.949
3.990.780
5
Less Allowance tor bad debts
19 337 662
7 853 727
10,848 598
7469
116 249
25.047
363.313
123.259
6
Inventories
Investments in Government obligations
1.973 535
14 737
1 178.147
I'l
171.854
CI
583.550
19.773
7
United States
91 063 296
67 705 008
12 154768
916.794
8.593.459
92.007
241.233
1.358.027
S
State and local
89 305 957
69,906 162
1 712 223
108.253
16 398 159
67.050
216.430
897.680
9
Other current assets
J7 394 228
14 127 156
2545475
7 615.919
6.433.365
204 199
3.477.468
2.990.646
10
Loans 10 stocl*holders
1,300,56:
92 005
367.200
26.640
60675
60 025
555 265
136.557
11
Mortgage and real eslale loans
440 439 748
90273,492
258.830 308
41,749
84,745,275
17.390
1.704.831
4.826.703
12
Other inveslments
298617832
49 061,592
11,650,166
1 729 486
172,915.524
817.818
4.403.235
58,040,01 1
13
Depreciable assets
63 752,yll
14 570 234
6,706 116
327 655
4 543 262
602 963
34 352,717
2.649,964
14
Less Accumulated depreciation
19 761 88:
2 997,018
■ 2 083 ;9a
94.396
546514
267 499
13.165.762
586.895
15
Deplelable assets
1.067 922
6,107
20,833
D
CI
(•)
757 565
277,941
16
Less Accumulated depletion
595.808
1 027
D
l"i
C)
C)
442.638
149.627
17
Land
13 879.987
1299 431
1,339385
19.087
276616
49.284
9896.440
999,744
IS
Inlangibte assets tamorlizable)
844.428
170,390
72.409
7.387
193 991
116.477
165.739
118,035
19
Less Accumulated amortization
211.072
43,333
26,278
2340
17991
37.278
63.766
20.087
20
Other assets
44.548.881
25.177 525
3,618,296
611.932
11,611,320
435,596
1.516.331
1.375,879
21
Total liabjiilies
1.746,680,983
24,237857
939,292,227
3783,324
338,024,372
2,771,520
18.005,632
b, 119,787
313,597,803
4 596 360
5,312,678
2J20 8-::
52,812.053
1 808 234
79,636,018
837 755
22
Accounts payable
23
Mortgages notes, and bonds payable in less than one yeai
73,420,923
24,148,521
33,957.732
3,752.961
1,735,253
214 503
5.429.696
4182,257
24
Other current liabilities
1 065,333 937
799 421,057
230.125864
2.025372
30 671,216
350 489
1 709 886
1,030063
25
Loans Irom slocltholdGts
4,875.756
1,349,178
610.549
52.237
616.819
69.241
1.846.343
331,389
26
Mortgages notes, and bonds payable in one veai or more
84.047786
1 1 ,600.937
44.333,908
1,020,077
1 724.956
314037
21014.503
4,039,366
27
Other liabilities
289 779 765
36345,730
7.379 36B
378172
238,617,881
225 946
3.295 276
3.537.392
28
Capital stock
40485058
13.376 779
3.693.926
437,372
3,058722
393 683
5753.315
13,771,261
29
Paid-in or capital surplus
87 343.981
20942,461
3,055,543
1,000,322
5592,219
340 363
3189.511
53.223.562
30
Retained earnings appropriated
12463.243
4.541.434
2,488.629
(■)
4.436,090
40 761
139.582
805,513
31
Retained earnings, unappropriated
68.130.593
24.059,366
9772,961
1.307.218
22,739.161
1 138 231
9.390.438
-276,782
32
Less CosI ot treasury stoch
3.437,916
276 560
165 628
98.920
190.696
95 433
764.731
1.845.748
33
Total receipts .......•..•••••••••■•••••••••••■•••■•■• -■
234,091.644
112 233.594
70.084,245
8 081 753
39.642,596
15281 357
3.369.606
1 296,238
93.582.929
74.359 816
S.428.874
5 232,258
15.737,681
7345670
€.245.713
34
Business receipts
636.502
Interest on Government obligations
35
United Stales
6 597 884
4 748 094
1.082.969
200549
376.203
21 613
19.174
149.282
36
State and local
3 773 830
2850 213
55 577
23031
778.532
3 541
15.002
47,934
37
Other interest
91 053.564
51,481819
22.158812
446,753
14.090.096
69518
676,981
2.129.605
3S
Rents
7640,937
953,159
218.143
18,116
1,147 060
17 671
4,958.769
327.999
39
Royalties
465,523
6420
5.394
i")
19,292
CI
232.635
197.468
40
Nel shorl-term capital gam reduced by nel long— lerm capital loss
45,768
8,300
4.362
2,086
6,055
CI
13.551
11.045
41
Net longlerm capital gam reduced by net short-term capital loss
1.433 206
1 14 408
141804
22 995
127.447
11,637
478 441
536,274
42
Nel gam noncapital assets
2.756.736
134,208
66 908
1 123 730
23 101
2,230
1379.078
27.481
43
Dividends received Irom domestic corporations
3.851,333
231 178
56073
55 534
1.526.692
16881
85 837
1.879 136
44
Dividends received trom toreign corporations
185,952
61 905
13 044
2096
16 729
C)
2 530
84.893
45
Other receipts
4 053 297
1 412 788
558 1^3
1 74 389
1 111 866
47,976
530,013
218.092
46
Total deductions
212,558.232
62,677.649
63,624,591
2.621041
37,713,758
10744,551
3,005,869
88.772
87,556,203
45.294 252
4,927,665
t4J0,8O9
13,173,907
2.270.630
2.556,239
47
CosI ot sales and operations
217 594
48
Compensation ol ollicers . .
5.526 618
764.319
2.46,' 539
236.143
643,557
99.636
309,579
7,653
355 886
30 542
787,725
12,103
835.224
362.006
127.108
49
Repairs
16.236
50
6ad debts
3 769 219
2 190.217
1 226.185
18 684
151 808
34,667
70,475
77,183
51
Rent paid on business propedy
2416431
96U.101
276216
136 120
456,916
137,965
405.002
44 111
52
Taxes paid
5,834 531
1,409.113
557 774
104 727
1,997,521
139.085
1485.694
140617
53
Inlerest paid
620265%
39,003,673
18.639.126
539,471
626,122
48.044
1.988.263
781.897
54
Contributions or gills
126 715
66.733
17257
2 651
13.831
6.122
14.832
6.289
55
Amortization
38,406
14.755
6.093
1 114
4086
3.329
7.799
1230
56
Depreciation
4,353,811
1.659.525
477,190
37.741
623.249
61268
1.368.287
106.551
57
Depletion
208,848
4.355
785
CI
10.004
CI
144.604
48.157
56
Advertising
Pension prolil-sharing, stock bonus, and annuity plans
1 611 716
541.261
453 396
28.002
280.268
51562
243.196
14,029
59
1,704,217
627.648
149 209
49.126
708.309
99,068
53.325
17,532
60
Employee benelil programs
523.223
255.355
64 496
23 870
108 331
37 062
29.974
4,135
61
Nel loss, noncapital assets
326,426
234223
56.293
549
9643
748
18396
4.574
62
Other deductions
60,649,507
1 1 332.909
4,099,992
1,657,041
36 685435
2,0-18,934
3 876,200
948.996
63
Total receipts less total dedudions
21,533412
6.459.654
1.928.838
363.737
6 026 726
501,209
2.563 774
3.689.474
64
Conslrudive taxable income trom related torcign corporations
72,263
23 405
(■)
(■)
CI
CI
CI
25,922
65
Net income (line 63 plus 64 minus 36J
17831.845
3 632,646
1 885,326
341.700
5253579
501,897
2 549.035
3,667.462
66
Income subiect to tan
Income tax. total
12.591.749
3402,114
1-45246
267.206
4.323.824
382 595
1,916.051
554,713
67
5.562,668
1,574.020
800,606
121.938
2 055 288
148710
656.592
205.514
68
Normal lax, surtax, and alternative tax
5.495.050
1547,605
767,447
121892
2 052.666
148,519
652.61 1
204,310
69
Tax trom recomputing prior year investmeni credil
9 562
3 679
1 102
46
2.597
182
1 187
569
70
Tax trom recomputing prior year work incentive (WIN) credit
21
2
(*)
C)
CI
71
Additional tax lor lax prelerpnces
58 035
22 534
32046
(■)
CI
CI
2.790
635
72
Foreign tax credil
Investment credit
■■02 783
520 970
26 045
1.833
113 910
5,264
1,496
33.265
73
160 936
94,244
17 073
3.220
23 757
2687
16,803
3.152
74
Work incentive (WINI credit
Distributions to stockholders
295
134
12
VI
109
C)
C)
C)
75
Cash and property excepi own stock
7,311 126
2045,109
417,667
53.069
980 620
91 118
493 009
3.230.514
76
Corporation 5 own stock
438 800
215,662
18 562
O
17 148
Ci
11 426
170,515
Footnote a\ end ol table See le*l for Enplanalion ol Terms' and Descnplion ol Ihe Sample and Limilalions ot the Dala
Corporation Returns/1974
35
RETURNS WITH NET INCOME
Table 3.— Balance Sheets and Income Statements, by Major Industry— Continued
jAli tigures are esltmates based on samples— mont;y amounts are m ihousands ot aoii.^[s|
Number ol returns with net income
Cash
Notes and accounis receivable
Less Allowance lor bad debts
InvenlOnes
inweslmcDis m Govcmmenl obligaiions
United Slates
Slate and local
Ott^e' current assets
Loans to stockholders
Mortgage and real eslale loans
Other investments
Depreciable assets
Less Accumulated depreciation
Depletabie assets
Less Accumulated depletion
Land
Intangible assets (amortiiable)
Less Accumulated amorlizaticn
Uther assets
Total liabitities
Accounis payable
Mortgages, noles and bonds payable m less than one year
Other current liabilities
Loans ifom siocKho'de's
Mortgages, notes, and bonds payable m one year O' more
Olher liabilities
Capital sioch
Paid-in or capital surplus
Retained earnings app'opriated
Retai'ied earnings unappropnatod
Less Cost ol treasury slock
Total receipts
Business receipts
Interest on Govemfnen' obliqations
United Stales
Stale and local
Olher interest
Rents
Royalties
Net short-term capital gam reduced by net long-lerm capital loss
Net lofig-ierm capital gam teducefl by net short term capital loi-s
Net gain, noncapital assels
Dividends received I'om domestic corporations
Dividends received (rom foreign ccrporalions
O'her receipts
Total deductions
Cost ol sales and operations
Compensation ot o'ticers
Repairs
Sad debts
Rent paid on business piopeily
Taxes paid
Interest paid
Contrtbutions or gilts
A mot I ir at ion
Depreciation
Depletion
Advertising
Pension profit-slanng, stock bonus and annuity plans
Employee benelil programs
Net loss noncapital assets
Olher deductions
Total receipts less total deductions
Constructive lanable income from roijiod 'oregn corporations
Net income (Ime 63 p'us M min:..s :»>}
Income subject to tat
i.xome la* total
Normal tax, sulaii and aito.nai .^e 'n
Tax from recorriputtnq pnor yea' -"tn
TaK Irom recomputing pro' y^^i «■•'-
Additional ta* (or lax p-eterenrps
Foreign lax credil
Investment credit
Work incentive (WiNI crpd''
Dislnbul'Ons to stockholders
Cash and properly except own siolK
Co'poralions own stocK
iT^-i .;-,edit
'-c^?^lll■.e iWilNI credit
Major industry— Continued
Total
services
54.929.321
4 631 408
9 54a 328
256 995
2.769 804
310 242
259.525
2 621 096
600 031
S40,04)
6 404 743
36 376 733
15,352.665
8.216
2,684 191
649 009
S4.929.321
5 025 103
6 143215
4 597 232
t 404 853
13 608.156
2 799 946
4 866,706
5 304.633
195 235
1 1 652 766
858,528
66.074.330
25 826
574.595
707 860
241 716
215 038
lO'Une
81.092,083
422/V'2fe
8,767 475
778,712
274.030
3043.431
2 802 029
1 776,356
38,636
'.:' 707
4 112 560
5 4J3
994.767
1 57' 533
422 718
35 864
14 13^216
4,982,247
33 106
4 989 527
3,65? 166
1 J29 ^30
Hotels
and other
lodging
places
(621
M43
67,961
7:i6 3D7
266.868
451 017
14 487
135,812
211 180
40 325
94 585
921723
5 693 680
2,137,845
(■)
n
635 497
50 922
12.853
206,639
6,587,631
289 560
500,827
305 359
222.410
2,675.11 1
235,219
657,240
74 1 080
8,980
1,066,918
H 5,093
5.715.132
5 329 16?
2.036
824
57.357
93 218
(')
I')
52023
11,167
6,42f:
1")
15fl7fi6
5.401.857
2,660 444
129,419
132 281
19 896
339 560
299 305
?B0 286
1 no
1.786
34 7 ?6?
904
102 370
13 559
20,030
970
1,052,015
313275
312451
208,949
85,011
84,426
2.51
Personal
services
22,164
3.833.112
:i6:5 065
9 863
1 66,020
53,197
15 275
262 936
2 652 046
1,531,234
I*)
76,690
25 652
293 458
318,606
323,570
289,941
127,264
668,555
148,726
18.890
1 367.84-
106 72
! 181
2,331
22 950
19.574
13,277
12,327
15,097
4,340
CI
60.054
6.091,407
3,290 463
417 153
79827
29,824
247.573
253,399
88.721
298 382
D
87,518
46 237
26.382
5 025
1 221 750
433 642
('I
432,819
327,889
127,876
127 403
1,95!
10,929
149
65.1t6
16.065.519
1 584.740
4,339 169
78 138
637 020
170 217
162 363
847 611
157 122
124,007
2 167541
8,434 593
3898 834
14 422
4,523
365,465
168,848
63 978
94 7 874
16,065,519
2191,522
2,053 439
I 496 648
351965
2.969,077
1.057936
1,323,260
1,506,353
64,307
3,312,86:
26185:
26.461,577
12,369
14,294
203,784
239 309
11,728
3 533
75 102
69,137
64,623
22055
547 980
'4,833 yet
1610,327
170,335
89,465
770 715
760 565
456,046
10.805
17,167
1,061212
1,306
276,303
238,034
109,404
11,252
4,489,245
1 553,416
1 7.884
1 557,006
1,144,916
470,160
466,458
3,647
21663
47 273
189
237 392
23 ^90
30.183
6.455,202
475 482
876 224
17 323
655,862
16 997
CI
1 75,494
57,310
49.037
172,664
6 113,398
2.471,917
l"l
243 81.
31,68:
4 763
177 593
6,456.202
572,097
1,435,024
293,266
155.594
1921.692
216 152
457 787
207.540
19 470
1 247 265
70 685
8,836.407
e,4 13.534
1 163
Amusement
and
recreation
services
Nature ot
business
not allocable
(66)
(•)
59,867
133023
17.330
75 997
3,360
4 433,256
552 221
142,943
23 968
312,013
280,638
326 684
1.808
619
1 115.371
(')
34,015
6,893
1 002,666
468,147
361 144
I3t,465
129,003
2 458
22,496
43.437
10.900,458
758 140
1 077 367
42,866
727 569
60296
29,124
776,131
75.977
494.640
1,787,085
6,836,319
3,215,325
1*1
(•)
769 058
228.254
110 547
649 164
10,900.458
737375
948.330
1,137,461
209,729
2 531,488
594,484
909,031
1 497,638
49 281
2 429 465
14J B24
11,884,029
10 872,429
5 438
2.494
136.916
136 970
264.336
68,007
25,869
26,325
32,743
322,323
488 789
134 911
39 600
426,085
404 263
295,624
10160
26,849
787,560
1,524
301.814
97 090
38 075
2,759
2014,676
934 611
('}
945 234
717 707
308,216
306.919
617
11.087.399
1,310,381
2,110 166
82,709
360,486
454 660
216 100
62 497
1 .092 794
6 446 697
2,097 510
9,119
1466
479 017
102,608
32 626
598 889
915^23
862 025
1,074 557
337 891
3,042.233
547,427
981,135
1,203,841
34 307
2,228,408
160 341
26,652,136
5718
5,731
93,721
85.766
8,820
29.927
17,771
9.333
25.393.031
11 182 442
5,569,566
118,415
71,277
947,465
803 859
326 795
9,810
4,676
502,773
437
152,278
1,140,784
194 812
9,955
4,357,665
1.259,105
(■)
1,253,871
891,561
306,403
305,667
682
3.059
26 678
DEslimate is net shown sepaialely because of Ihe snnali njnibcr ol sample telums on wruch <l was tiased '
NOTE See text lor Explanation o' Terms" and Description ol the Sample and Limitations of the Data
e data are ntluOed m Ihe appropriate totals
36
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 4.— Balance Sheets and Income Statements, by Size of Total Assets
[All tigures are estimates based on samples— money amounis are in Ihousands ol doHarsI
Total
returns of
active
corporations
Size of total assets
Zero
assets
under
S 100.000
$100,000
under
S2S0,000
$?50,000
under
SSOO.OOO
Tajies paid
Inierest paid
Conlftbulrons Or gilts -
Amortization
Depre'-ialion
Depletion - --.
Adveriising
Pension, prolilshanng, sloch bonus, and annuity plans . ...
E mployee benelit programs . ... . . . . .
Nei loss, noncap'iai assets .
Other deduclions . '
Tolal receipts less total deductions
Consiructive taiable income tiom related foreign corporations
Nel income (less del'Cit} (line 63 plus 64 minus 361
Net income
Delicil
Income subieci to ta»
Income lax. lolal
Normal lai, surtax and alternatiwe lax
Ta> (torn lecoitipuling prior y(--ar inveslmeni cedil
Tax I'om lecompuling prtor year work incentive (WIN) ciedit
Additional ta* lor lax prelerenccs . .
Foreign lax credit
Investment c;edil
Wo(k tncenlive (WtN| ciedil
Disiritjutiors to siochholders
Cash and propeny except own stocii
Corporalton ^ own slofli
(t)
Number ol returns
Total assets
Cash . .,
Notes and accounts receivable
Less Allowance tot bad debts
Inventories
Investments m Government obligations
United Slates
Slate and local
Other current assets
I oans to stocktioldefs — ,
Mortgage and real estate loans
Other investments
Depreciable assets
Less Accumulated depreciation
Depletable assets
Less Accumulated depletion
Land
Intangible assets (amorlizablel . .
Less Accumulated amortization
Other assets ...
Total liabilities
Accounis payable
Mortgages notes and bonds payable in less than one year
Other current liabililies
Loans Irom stockholders
Mortgages notes and bonds payable m one year or more
Other liabilities
Capital slock
Paid-in or capital surplus
Retained earnings, appropriated -
Retained earnings, unappropriated . .
Less Cost ol treasury sloch -
Tolal receipts ■* —
Business receipts _ .
Interest on Government obligatioris
United States
Slate and local
Other interest *.
Rents
Royalties
Nel shoft-lerm capital gam reduced by net long-term capital toss
Nel long-term capital gam reduced by nel shod-ierm capital loss
Nel gam. noncapital assets
Dividends received Irom domestic corporations
Dividends received Irom foreign corporations
Other receipts
Tolal deduclions
Cost ol sales and operations
Compensation ol oHicers
Repans
Bad debts
Rent paid on business property
4.016.466.940
281.022 745
t 029 914 345
3t, 367517
312096,928
128 866.123
7.900.362
508,397,657
570.135 387
1,179.165.211
444,332.458
37.076,623
t3.74S,919
64 509 343
11.431,279
3,892 553
125 995.04 7
4,016,466.940
253,377,045
285,844,394
1,459,499,079
34,314.798
542093,213
425,603,032
240.076.710
274,124,499
25,066616
495.624,274
19,156,722
2,854,819 489
8 990,561
5,774,934
128,255,976
20,192,446
4,639,652
262,659
8,168,867
6,952,875
13,792,007
- 7,443,159;
30,418,536
2,941.543.997
2,068 068 555
53,040.517
22,352,998
12,755,529
37,738,188
74.705.371
132,949,480
1,199,655
824,820
78,597 689
18,999,456
24,640 318
23,033 777
13,534 184
1,702,820
377,400,640
148,157,366
3.615.376
145,997,808
171,166 224
25 168.416
143 982,513
66 112,989
65.586.637
179 121
446
346,765
20 752,819
4 221.384
7.795
49 260,658
2,763,947
17,513,572
166 822
15,183
2,720 514
157 954
14,694
2 101
92,798
142,421
77 061
4 59S
365080
21.042.677
13,726 263
316,425
105,218
153 361
295,312
432,787
2.783.045
3,088
6,277
331.597
36,097
131 198
53,340
44.376
42,988
230,118
1 924
216 659
981,002
764.143
739 999
329 998
324 947
3,325
1,726
7,343
12 303
434 320
25 461
5 375 849
5 954,062
104 359
16.131
I 374 656
1 1 76 573
399 787
1 374 534
21 941 305
11.222,438
106,115
47 170
2.234,883
334 779
120 641
1 387 941
36.349.919
5 677.437
4 473,803
2,830,399
5,300.180
6,141,510
I 411 720
9 703 345
1 996,872
83 085
-457.221
911 211
117,388,215
16,138
10,409
246,898
1.081,956
92,630
14.300
268 676
319 795
20 047
(■)
1 010075
119,995.435
67 964 941
14 403 830
767,670
285 503
4,076,349
3,397,367
957,617
16,782
21,507
2342121
23 149
1 1360,90 1
I 504,488
377,094
141,917
22,654,199
473.830
(■)
463,421
3,714 822
3 25 1 40 1
1988 435
461 905
458,618
59.652.116
6 694 94 7
11661617
153 376
10,497 062
244 054
1 1 5,698
2,073,781
1 057 136
744 603
2,945 054
30,897,462
14 741 159
123,084
52 125
4 y54 025
417,162
151,518
2 324,180
59.652.116
8,952,295
6,898,939
3 836,733
4.507,527
11,212 164
1 745,579
9,780,799
2,445,471
153,532
1 1 302 34 1
1 168 264
24,320
5,388
382,934
1,533,440
97,822
9,654
250.502
300,538
51.319
435
1 150.634
88,243 837
7,703,943
852 468
389,025
2,716,806
3.403 518
1,500 374
24.125
22 258
2,704,844
25.565
1,090189
594,052
314,283
63.045
20,016,
3,183,277
3.177.889
4 963.016
1-7e5 127
3 327 934
956 955
639,556
9,822
69.760.625
6645 136
14,747 968
250.692
13,786,560
273,026
114.924
2,664.525
801,083
868 755
3 681 450
34,493,017
16,075,347
158.075
44,070
5.434.049
312,322
114,322
2.266.162
69.760.625
10 446 570
9.462 201
4,674,396
3,500,238
13,478.925
2.193,795
9 627.244
2685688
308,248
14 667 920
1284.600
146.538.704
30.713
11.764
565664
1.407.651
56,953
10.635
289 651
346 857
63,871
3 431
1 436 835
103 146,682
6,217.185
698,031
457,890
2,293.164
3,220.999
1,931,743
39.377
17.969
2 840 039
36.207
1,067.818
677.863
350.540
46,559
19.469.957
3 616.661
3,804.917
5477.896
1,672.979
3.906 969
1,344 986
1.339 940
4.831
1,272
103 321
583
Footnote at end ol table See text lor Explanation ol Terms' ar.d 'Oescnplion ol the Saniplf and Ltmitatiorjiol Iho Data '
Corporation Returns/1974
37
RETURNS OF ACTIVE CORPORATIONS
Table 4.— Balance Sheets and Income Statements, by Size of Total Assets— Continued
[All figures are esiimales based on samples-money amounts are in thousands o) Oollarsl
Number of returng
Cash
Notes and accounts receivable
Less Allowance lor bad debts
I nven lories
Invest men Is in Government ob ligations
United Stales
Slate and local
Olber currenl assets
Loans to sloctiholders
Mortgage and real estate loans
Other inveslmenls
Depreciable assets
Less Accumulated depreciation
Depieiabie assets
Less Accumotaled depletion
Land
Intangible assets (amortiiab'e)
Less Acctjmuiated amorlijalion
Olhei assefs
Total liabilities
Accounts payable . .
Mongages notes, and bonds payable m less than one year
Other current liabilities
Loans Irom slocKtiolders
Mongages notes and bonds payable m one year or more
Other liabilities
Capital slock
Paid-in or capital surplus
Retained earnings appropriated
Relamed eamir^gs. unappropriated
Less Cost of treasury stock
Business receipts
Interest on Government obligations
Uniied Stales
Stale and local
Other interest
Rents
Royalties
Net sbon-lerm capital gam reduced by net long-term
capital loss
Net long-term capital gain reduced by net short-term
capital loss
Net gam noncapital assets
Dividends recerved Irom domestic corporations
Dividends received from foreign corporations
Other receipts
Total deductions
Cost ot sates and operations
Compensation ot officers
Repairs
Bad debts
Rent paid on business property
Ta«es paid
Interest paid . .
Contnbutions or gifts
Amorliialion
Depreciation
Depletion
Advertising
Pension, prolil-shanng, stock bonus, and annuity plans
Employee benefit programs
Not loss, noncapital assets
Other deductions
Total receipts 'ess total deductions
Constructive laiable income ttom related foreign corporations
Net income (less deficit) (line 63 plus 64 minus 36)
Net income
Deficit
Income subtect to tax
Income tax. total
Normal ia» sunax and alternative ta«
Tax from recomputing prior year mveslmcnl credit
Ta« from recomputing prior year work incentive (WIN) credit
Additional tax lor ta« prelerences
Foreign ta" credit
Investment credit
Work incentive (WIN) credit
Distnbulions to stockholders
Cash and property except own stock
Corporation S own stock
SI, 000.000
under
$5,000,000
199.232.992
14666417
47.f58 606
1 055,846
40 894 750
2 928 993
1612069
9,267,012
1,136,880
3.507.034
14.276.365
82.261.507
35.206,198
752.007
214.339
10,794.862
1.070,456
354.007
5.737,424
199,232.992
29 685 290
30 474 204
22 291,991
4079668
39 192 542
8.741 209
17 298.419
11,025,14
961.527
38.299,972
2.836 971
367.810.576
234,578
82.951
2 250.236
2.598,990
166 986
30,319
695.673
911.283
347.81
20.513
3,863.636
356.166.237
275.621,436
7,475 205
1 768036
1 146 064
3.644.603
7,223.293
6.081.623
139.057
60.565
6 486.306
257 467
2.314,217
1649 120
994 437
163,433
41 141.355
1 1 644 339
7,016
1 1 568,406
15 249.856
3,681-450
12 330.907
5 532,610
5.512841
15,624
76
4,069
Sue oi (olal assets— Continued
$5,000,000
under
SIO.000,000
290 378
1 C07
1 657,045
196 356
106,662.634
7 414,358
30 286,352
682.422
15218,267
5.779.096
3.165.122
4,684.432
408.956
5 761.840
9.612.565
32.458.755
13.374,280
472.433
125.936
3 523,296
589.242
219.556
2690-114
106.662.634
11.047.997
11,926 031
31650,977
1 094.367
16,J71,504
5,090,191
6,766.864
6,696.795
515,925
16.367 827
965 844
125.303.273
422.002
138,954
2,284.713
945,384
94,232
7.811
342.191
355.324
218.627
18,649
1358,120
120.487.318
91 865,257
1 783,922
585-931
474.316
1 225,053
2 587-493
3 260.829
62.269
19,148
2.438.381
154.245
874.127
579.994
370.495
83,154
14,122.704
4,815,955
9,121
4 686-122
6 170.028
1 483,906
5.028,094
2330.813
2.321.410
6,573
12
2.818
22347
113.036
$10,000,000
under
$25,000,000
188.440,244
13 142312
59 475 02;
1 723,311
17 213 385
13.039.639
10578,858
6.302 441
380,119
21 544.55
15.836,213
38.26
15,054,270
863,994
233 470
3 929 7B4
585 301
169 714
4 468 205
188.440,244
12,255.567
15. 115.722
88.881346
924.614
20,606055
8519985
9 309962
12237.106
1.017,979
20,677,016
1,105108
146.318.788
134 627 266
993.153
447,458
6,041 233
967.599
131.272
9,797
415.166
461,968
324,201
46,01.
1653,641
1*0.052.075
103.374 190
1.851,905
701 099
74 1 289
1,458 266
2 %5 854
6.135.019
72.031
30,329
2.835.484
247 972
1090.190
707.313
462.953
147,421
17 230,760
6,266 713
31.209
5,850 454
7 726.718
1876,254
6210,5)2
2,905 197
2 892 376
6.826
10
$25,000,000
under
$50,000,000
5,965
55,383
140.649
1 382 788
150.359
184.220.624
11,214,913
52 353,436
2,218,654
14.208,342
10 282,379
9.677 236
5,210.889
234,063
36 161 144
18.316,901
32.967,569
12,753,328
872,841
258.566
2.921.399
557,591
141.591
4,614.060
184.220.624
9,564.506
12 818,974
93.728.259
666,281
19368,673
9,432774
7,540,028
13,873,151
1,009,309
16,976,986
858,317
116.532.767
105 192 183
760,493
420.478
6.844 588
825.609
143.072
8,359
327.882
339.369
338 119
39.336
1 273,279
111.420.408
79,292,239
1.185.47
582.917
653.322
1,308,671
2 552 860
6,484.750
57.501
27,106
2.328,498
166,539
1.133 623
573.648
403.525
117.441
14.552,297
5.112,359
26,629
4,718510
5 987,087
1,268,577
4.742,497
2 242,522
2 229,070
5,597
$50,000,000
under
$100,000,000
26
7,829
53 379
119 674
200.602.981
10,827 858
47 258 601
2,597,565
14,866,372
9,795,496
9574767
5,412,053
228.614
49,715,063
23744,014
36,957,756
14,266,060
1.325 503
433.860
2,981,671
698.110
131,380
4.747.958
200.602.981
9,443,714
12,366,642
100,179.004
, 776,221
20.452,625
13.081.364
8,871.551
15,629,968
1.121.073
19.644 092
963.273
123.257.887
726.586
403,855
7,613.516
678.679
178 469
8,345
339 325
308,264
463,572
114 367
1,332,710
117.540.609
82,650 96
1.006,990
712569
658.903
1.390.172
2.972,01 1
7.177.534
51.652
23,908
2,661 109
204,762
1,081,658
702.341
534.278
108,310
15,601.451
5,717.278
69.227
5.382,650
6,598,695
1 216045
5,306,832
2,514,323
2,496 169
6385
$100,000,000
under
$250,000,000
11 75;
99.059
153 782
303,942.116
15 009,047
62705 952
3.604,755
22.622,865
8.195,894
430.062
75 667,275
43,593 910
65 245.622
24.632 946
2,682,590
1,143,010
3.993,478
930.580
236,874
8.042,482
303.942.116
14 312 144
19 287 840
136,613 952
1,185 177
34,624 560
22.737,558
14.385,585
28,475.%5
1,654,109
31,956,436
1.291,210
190.S55.411
691.342
542.155
11,154 667
1.003,205
385.539
24.628
655,463
579,118
721,382
324,907
1964513
161.926.524
127,262 192
1.224,845
1.390.075
1,001,630
2.192,423
4,084,519
10.601,395
80,133
46.589
4,317.060
453,720
1.981.231
1,256.246
879,865
135.046
25,019.555
8,628,887
194 456
8-281,188
9.867,082
1.585.894
8,106,567
3,850 448
3-820 010
10018
11
20,409
313 690
276,633
533
2,825,321
207 397
(■) Estimate is not shown separately because o1 the small number ot sample returns on which >t was based However the data are included in the appropriate totals
NOTE See lexl for Explanation of Terms' and Oescnplion ot the Sample and Limitations of the Dala
38
Corporation Returns/ 1974
RETURNS WITH NET INCOME
Table 5.— Balance Sheets and Income Statements, by Size of Total Assets
[All figures are eslimales based on samples— money amounts are m thousands ol dollarsi
Size ol total assets
Total
returns
with
Zero
St
SI 00.000
S250.000
$600,000
net
income
assets
under
under
under
under
stooooo
$250 000
$500,000
$1 000 000
Number of return*
(l|
(2)
13)
14)
15)
|6|
1
t.207.396
23,219
572.104
265.466
161,186
91,176
2
Total Mtett
3.273,I70.8«
22,059,973
43,106,603
53.095,570
63,312.442
3
Casti
235,182,177
3 920 651
5 594 725
5725,486
6,052,373
4
Notes and accounts receivable
636,615,019
—
3,758 926
8,650,590
11,938 661
15,453-102
5
Less Allowance tor bad debts
25 792,009
—
98 466
110,369
179 420
271,921
6
Inwentoiios
Investments m Government obtigal-ons
258,627 561
~
3 404 590
7,791,222
10863 623
14 158 469
7
United Stales
103 094.395
—
54 714
207 653
239 332
319,304
e
Slate and local
92 629 612
-
11953
76,222
77 011
160,045
9
Other current assets
92,374,971
_
757401
1 354 995
1 790,171
2,236,787
10
Loans to stocktiotders
5,467 424
—
711 183
770,489
570,094
469,887
11
Mortgage and real estate loans
445,111828
—
276512
468 454
643 622
61 1 835
1?
Othei investments
478,676,368
_
864,451
2286,926
2 925,902
3,756143
13
Depreciable assets
961,453,495
—
12579191
21,881,431
25,726 618
28 463,831
14
Less Accumulated depreciation
378,575,565
-
6539 030
10,862,263
12506450
13618,102
IS
Deplelable assets
33,686,637
_
64736
92,050
74,307
195.459
16
Less Accumulated depletion
13,053,928
—
28 623
42,307
25068
92.626
17
Land
43,344,599
—
1 176714
3,104 772
3,589,514
3,674.210
18
Intangible assets [amortizabtel
8540,014
—
135.960
260 939
163,229
208.633
19
Less Accumulated amortization
3,102,533
—
53,596
100 835
71,394
89.663
?0
Other assets
98 470 784
-
1,062,926
1462,709
1 539,932
1,564 696
21
3,273,170,849
-
22,059,973
43.106.603
53,095,570
63,312,442
22
Accounts payable
205,713,005
_
2 885 687
6.037 301
7 735 402
to 262 380
23
Mortgages notes and bonds payable in less than one year
200 029918
—
1641226
3,908083
5912790
7996161
24
1 190190942
—
1653343
2 966 667
3 721.737
4.821 495
25
Loans trom stockholders
17 910 300
—
2,123247
2 490,116
1936 964
1 769,511
26
Mortgages notes and bonds payable m one year or more
392 130 139
—
2 925 551
6 646,874
8 260 632
10,102,203
27
Other liabilities
375,231 397
-
794 594
1 196 346
1,574,016
2 067 216
28
Capital stoct.
187 837,802
_
4 750,560
6,611160
6 993,603
6,665,064
29
Paid-in or capilal surplus
214 719595
—
907 097
1,313544
1,633,269
2,229,420
30
Retained earnings appropriated
20,964 230
—
62370
136 320
238065
266,703
31
Retained earnings unappropriated
483626,551
—
4 638 780
12 759 351
16 224 290
18,136,936
32
Less Cost ot treasury stock
15,203 030
-
522 682
960,151
1055 116
1,046 669
33
Total receipts
2,646.541.904
2 456 250 770
14,044,484
12 339 994
79,728,879
77 --,18 285
105.245,255
102,226,043
122,248,645
118 832 75-
148,049,820
34
Business receipts
144 091 221
Interest on Government obligations
3S
United Slates
7 387.263
121,182
13786
21 525
26 634
28,736
36
State and local
4,120 695
10 048
4 477
3 384
6317
10,767
37
Other interest
103554,324
978914
180 060
313 194
454,696
568161
38
Rents
15 137,-69
69,472
653 758
1 186 545
1 129 166
1,143,337
39
Royalties
4 359,359
13 062
78 438
73 968
44622
64,046
40
Net short-term capital gam reduced by net long-term capital loss
196,167
1,793
13 026
8,674
7,972
7809
41
Net long-term capital gam reduced by net shonterm capital loss
7,304,817
81,897
231 708
225315
255,931
279818
42
Net gam noncapital assets
4778573
98,301
225 730
227,468
249335
337,791
43
Dividends received trom domestic corporations
12,867 825
72 543
15 807
47 646
58709
78220
44
Dividends leceived trom loreign corporations
7 305 578
4,549
n
CI
3 167
4,949
4S
Olher receipts . .-. --■
23,276,744
2,474,821,088
1 770,945,613
42,246,046
252,829
13,055.298
9,867389
176,116
573,670
76,009,580
43 406 040
10074647
907,225
100,278,655
68,932 532
6,291,941
1,177 435
116,764.432
85,447,223
5,351,012
1 434 946
46
Total deductions ...i. ■.■•■•■•••!•■•
141,624,162
47
Cost ol sales and operations
107 725430
46
Compensation ol ollicers
4,868,958
49
19,789,386
9 150793
28,742,367
56,416
39,644
126465
442,620
120 465
2441 410
625,603
270,065
2,038.762
701.503
328,623
1.762 194
704,434
50
„ s
tjao oeots •
411 975
51
Renlpaidonbusmessproperty
1,767 399
52
Ta«es paid
62,334,430
216,559
2,133,855
2 609,475
2,607,005
2,908,065
53
Interest paid
99,831,695
985,896
462 902
909,066
1,213,790
1.557,443
64
Contributions or gilts
1.169.354
2,980
15122
23,443
37,685
47,384
55
Amortization
593,694
1,864
7 026
12 573
6.430
10,276
56
Depreciation
64,699 827
191,271
1 368 746
1,956 809
2160,238
2,426,978
57
DeplelKin
18,646,251
26996
16 656
20 293
33,657
52.091
58
Advertising
Pension, protitshanng, stock bonus, and annuity plans
20,252,116
69,419
590 077
789 196
792,638
851.714
59
20 853,493
39,746
1 193 291
611,746
636,540
793,228
60
Employee benelit programs
1 1 759,407
29,316
271,468
235,677
296,894
369.123
61
Net loss, noncapital assets
779,117
3,556
13 234
21011
11,973
20,063
62
Other deductions
303107 498
1 213 669
13,449,561
15,030,444
15 374 927
17,089.611
63
Total receipts less total deductions
171 720816
989,186
3,719299
4,966 400
5484213
6,426,658
64
Constructive taxable income (lom related toreign corjxiralions
3566,103
1,864
I'l
(■)
I')
I'l
65
Net income lime 63 plus 64 minus 36)
171 166,224
981,002
3,714,822
4,963 016
5 477 696
6,416 113
66
Income subject to tax
Income lax total
143979974
739 517
1,968,345
3,327 666
3 906,927
4,786,433
67
66077 426
327 004
459,866
956,469
1 344,185
1.904.720
68
Normal tax surtax, and alteinative tax
65 585 499
324716
458,661
953 104
1.339 920
ie%.537
69
Tax trom recomputing prior year investment credit
156,256
1832
1 116
3,385
4 050
6.660
70
Tax Irom recomputing prior year work incentive IWIN) credit
418
—
—
—
I')
(■)
71
Additional lax tor tax preterences
335253
456
1")
-
I'l
1.309
72
Foreign lax credil
Investment credit
20752,619
7,343
262
224
1272
5,047
73
4,221,237
12.303
37 152
83 474
103,321
123-222
74
Work incentive IWIN) ciedil
Distributions to slockholdeis
7,795
I'l
n
503
583
436
75
Cash and property except own stock
45506,183
239,891
724 168
618,319
65? 795
729,590
76
Corporations own stock
2 650,651
D
n
9822
44 J5B
51670
Foolnole at end Ol lable See lenl lot Enplanalion o! Terms and Desciiplion ol Ihe Sample and Limitalionsol Ihe Data.'
Corporation Returns/ 1974
39
RETURNS WITH NET INCOME
Table 5.— Balance Sheets and Income Statements, by Size of Total Assets— Continued
[All figures are esiimaies based on samples— money amounis are m thousands ol doliarsl
21 Total llablllltes .
Accounts payable
Mortgages, notes anfl twnds payable n
year
Other current liabilities
Loans from slocfc holders
Mortgages, noles and bonds payable ii
Oihe' liabilities
Capital stock
Paid-in or capiiat surplus
Retained eainmgs, appropriated
Retained earnings, unappropriated
Less Cost of treasury sloch
less tfian one
one year o< more
Business receipts
Inleiesi on Gove'nmeni obligations
United Slates
Stale and local
Other interest
Rents
Royalties
Net short-te'rn capital gam reduced by net long-term
capital loss
Net long-term capital gam reduced by net short-term
capital loss
Net gam. noncapital assets
Dividends received from domestic corporations
Dividends received from foreign corporations
Otfier receipts
Total deductions
Cost ol sales and operations
Compensation ol oflicers
Repairs
Bad debts
Rent paid on business property
Taxes paid
Interest paid
Contributions or giMs
Amortization
Depreciation
Depletion
Advertising
Pension protil-shanng. stock bonus and annuity plans
Employee benelil programs
Net loss noncapital assets
Other deductions
Total receipts less total deductions
Constructive taxable income from related foreign corporations
Net income (ime 63 plus 64 minus 36)
Income subject to Ta<
Income tax. total
Normal tai. surtai and alternative tax
Tax tfom recomputing pnor year investment credit
Tax Irom recomputing pnor year work incentive (WIN) credit
Additional tai loi ia« preferences
Foreign lax ciedil
nvestmeni credit
Work incentive (WiN( credit
Distributions lo stockholders
Cash and property except own slock
Corporation s own slock
Number of returns
Total assets
Cash
Notes and accounts receivable
Less Allowance for bad debts
Inventories
Investments m Government obliqalions
United Slates
Stale and local
Other current assets
Loans to stockholders
Mortgage and real estate loans
Olher investments
Depreciable assets
Less Accumufated depreciation
Depietatiie assets
Less Accumulated depletion
Land
Intangible assets (arriortizablei
Less Accumulated amortization
Other assets
Sue of total assets— Continued
SI. 000.000
under
S5.000.000
14S.468.957
12,576,475
38.520679
749 192
32.952 166
5631,002
735,749
2.409673
10,559,378
58,666,135
27,225,810
463.253
175 172
6270447
559 544
201,396
3 536 538
148.468.957
23 186 191
19 106 945
16,246.215
2,?02477
21295 023
6037 688
12 516 190
5 868 422
760246
41 543 449
2 295 889
310.465.337
205.273
69,850
I 769 399
1 832 526
162 560
22 677
577.164
625,567
317 073
16.980
2.953.956
295.152.578
231,912.268
6.408.431
1.406,050
792,629
2,822 444
5.842 955
3.767,575
137,801
26,887
4904.918
232.151
1 798 033
1518 227
630,261
39.778
32.712170
15.312.759
6.947
15 249,856
12,330 345
5 530,035
5 512,583
13533
76
3,843
19,817
290.377
1.007
1 597.252
188 461
S5.000.000
under
SI 0.000,000
81.598.950
6 367 972
24 826,352
532,893
1 1 920 683
5325.454
2924,764
2 778,761
278 095
4 958 814
6.333.273
22 8
3 977
10 298.080
303.965
100.639
1 935.369
251650
82119
1 638 552
8 132 763
6 990 228
27.961.935
635 797
8 593 038
3 400792
5 176.907
4,121,856
458,015
16 966 357
738 738
102.598,337
97,739,493
389,425
127,596
1 903,022
644,433
78 694
6,011
277 582
218,106
195.453
18.274
1000.148
96.309.693
74 949957
1439,512
456,688
306.273
847 345
2.017 970
2 170.923
61 196
9,848
1802 992
136,445
645.869
511,274
296,079
33 284
10 624,038
6,288.644
8,980
6,170.026
5,028.094
2 329.739
2.321 410
5 758
9
2 562
$10,000,000
under
$25,000,000
22.347
113.036
768.952
85.668
149,629,695
11 141 5"
48 998 333
1 455 769
13.203 366
4.034 989
234,155
19.666.612
11,777,968
27,014,701
11.408,273
610.047
1 72 099
2 155349
343614
113.124
2 658 167
8 897 63d
77 901 594
486 892
11 124 457
5.824,586
7.075 478
8 354,186
899 332
21.002.416
866.677
118.939.405
360.771
5 145 lOt
598 128
112,834
4,041
337,199
254,049
287.625
39.752
1.250.158
110,861.931
83 391,801
1.491.611
552.120
471.374
1,016 323
2336.456
4,521.145
70 315
19.909
2.080.436
212.728
798,328
625,867
370.421
39,811
12 863,366
8 077,474
30.015
7.726,718
6,210.512
2.903 873
2,892.376
5.814
10
5.673
55-383
140649
305
$25,000,000
under
$50,000,000
147.863,237
9 207,605
42,266008
1927.613
1 1 335 168
3 352 189
183728
32 783 893
14.082 176
24,874 444
10.I47.t51
596 448
204,620
1 766.847
402.381
118,848
2 939.346
: 332 744
8 256 543
79 873 490
369.117
11.961
6.608.113
6,065,187
10,427.750
980,976
16.813.680
724.529
96,631.098
87,517.978
667,323
335.809
5.766.922
516.994
123.408
4,962
236.048
162,66'
293.012
36,974
969.007
90.334.169
66 686.119
947,867
472.183
436 215
923.509
2,032 798
4.962,486
57.405
22,143
t. 769. 160
130.380
864 371
507,015
336,644
45.640
10.940,244
6.296,929
25,967
5,987.087
4742.384
2,240,169
2,229.016
4.052
26
7.076
53,379
119 674
114,839
132.850
$50,000,000
under
$100,000,000
160.)97.375
8 530.454
36.217 041
2,219.477
12.066.711
7.904.563
7092.907
3.593.967
198.432
45,059,262
18 736 644
28,955.711
11,869.734
1,011858
390,882
1,816.191
470,061
96.725
3,120 401
7.354,539
7,989.026
83.635,293
457.796
12.660.775
10.055,533
6.851335
12.114.923
890.481
18.988.110
800,436
t02.009,676
92 183,076
589,556
295,278
6,255,958
410.512
161.808
5.64 ■
295.186
184,520
439.872
97,862
1,090,405
95.178711
68,073,575
807.167
604.383
426.105
1.040,369
2,319,598
5.448.330
51.500
18620
2.094.050
169.689
836.728
620.838
449,219
54,961
12.164.579
6.830.965
63.008
6.598.695
5.306.832
2,513.037
2,496,169
5-506
12
11,351
99.059
153.782
353
1,460.747
202.007
$100,000,000
under
S250.000.000
237.662.654
11.592.665
46,235,909
2 936,000
18 969,457
9-524,560
7.933.880
5.806.424
247,987
62 990,408
33,882,371
53 880,735
21.062.394
2.357.607
t. 027,583
2 793,077
761.324
204,588
5,9i6,fli5
11.294,959
11.258.150
108.978,224
735,8
24,300.940
17,689,671
11.166,947
21 793,614
1,271,094
30 386,200
1.113 029
160.146.674
684,130
345.465
8,561.453
637,160
359,680
11.791
576.245
341.662
632.969
310 853
1,457 150
150,122,122
107.490.7S3
952.150
1,254,669
568,339
1.689.719
3,341.092
7.773,416
79.993
28.452
3.593.476
428.634
1,634 840
1,148.381
10.024,552
187,995
9.867,082
8,106 667
3,847 350
3,820,004
8 550
10
18.786
313,690
276,633
533
1,386
2.166,175.193
15^1472 196
559,749.418
15.310869
121 971.902
61,038.285
1,067 625
275242753
373.471 156
656.541 521
243.038,298
27,916 907
10.794,109
15 060.109
4,962 679
1,970.225
72 8
J, 702
2.166.175.193
112.540.841
117874,112
780.428 949
4.782 477
274.239,580
320,082,840
113 965.381
146 055.515
15.116.628
286 165,982
5 079,112
165 893 844
3,755,805
2,530.933
71 557.422
6 313.756
3,086.259
103.770
3,930.604
1,853,383
10,428,997
6,769.705
10.209.816
1.189,129.557
823 760.526
3 414 542
12.510,717
i 880 066
12 266 418
33 966,602
66 058,722
604.330
427 666
40.360.753
17.184.331
10.580,902
12.747,321
7.526,202
424,518
142,425.841
97 304.737
3,240-105
98 013.909
67 506,052
41720 960
41.341,083
95.801
261
283,815
20.174,996
2.767,614
3.229
33.794,777
1.675,871
CI Estimate IS not shown separately because of the small number o' sample returns on which if was based However, the data are included m the appropriate totals
NOTE See text for Explanation of Terms" and "Description of the Sample and Limitations of the Data
40
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Corporation Returns/ 1974
49
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Total assets
Notes and accounts receivable
inventories
Casb. Governmeni obligations ■
current assets
Depreciable asseis
Accounts and notes payable-
Olber current liabilities
= 1
r (u _
3tal receipts
usifiess receipts
ost ol sales and operations
axes paid
lerest paid
epreciaiion
ension. profit -stianng, stock b(
anf>uily plans
mployee benefit programs
et income (less deliCitJ
Net income
(atuiory special deductions to
Net operating toss deduction
^ - li
11*5111°
1
1
i
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lii
1
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ash Gcvernmenl obligations.
current assets
epreciabie assets
ccounis and notes payable
llier current liabilities
lorlgages. notes and bonds [
year or more
e! worth
otat receipts
usiness receipts
ost ol saies and operations
axes paid
iferest paid
epreciaiion
ension. prolit-shanng. stock bi
annuity plans
mployee benefit programs
- ||
Income subiecl to tax
Income lax, total
Additional tax lor lax prelere.
Foreign ia> Cfedil
Investment credit
Work Incentive Credit
Distributions to stockholders ex
own stock
i
2 Z
^cD<J)^^Saa. uj
Z I/)
z
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l~CDOl- irOQ. LLl
Z t/^
78
Corporation Returns/ 1974
01
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Q.
41
3
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>
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3
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= «!
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II III II
2 E _
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e 5 a
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1 5 yi i: S
Corporation Returns/1974
79
RETURNS OF ACTIVE CORPORATIONS
Table 8.— Returns with Beginning and Ending Inventories and with "Last-In, First-ouf (LIFO) Method of Inventory Valuation: Business
Receipts, Net Income (Less Deficit), Total Income Tax, and Total Assets, by Major Industry
jAf! liguies. are estimates based on samples— money amounts are m thousand- of dollafsj
Geneol bu'fding coftraclors and
operative builders
Heaw construction conlraclors
Special trade conlfaclors
Manufacturing .
Food and kindred products
Tobacco mariufac lures
Te"lite rniH products
Apparel and other ie»iiie products
Lumber and «wx>d products
Furniture ant) (iitufes
Paper and aihed products
Pnnling and publistimg
Chemicals and allied products
Petroleum (including mlegrated) and
coal products
Rubber and miscellaneous plastics products
Lealber and fealtier products
Stone clay and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electrical and electronic equipment
Motor vetiicles and eguipmenl
Transportation equipment, encepl motor
vetiicles
Instruments and related products
Miscellaneous manutactunng and
manufacturing not allocable
Transportation and public utilities
Transportation
Communication
Electric, gas and samlarv sor.ices
Wholesale and retail trade
Wholesale trade
Groceries and related products
Machinery, equipment, and supplies
Miscellaneous wholesale trade
Retail trade
Building materials, garden supplies
and mobile home dealers
Genera) merchandise stores
Food slores
Automotive dealers ana service stations
Apparel and accessory stores
Furniture and home furnishings stores
Ea'mg and dnnking places
Miscellaneous retail stores
Whole-iaie and retail trade not altocable
Finance, insurance and real estate
BanKmg
Credit agencies other ihan banks
Security commodity brokers and services
Insurance
Insurance agents tirokers and services
Real estate
Holding and other m vestment companies,
except bank holding companies
Hoteu and other lodging places
Personal services
Business services
Aulo repair miscellaneous repair services
Amusement anil ri?cri?ation services
Other services
Nature of business not allocable
Alt industries
Agriculture, forestry, and fishing
Mining
Metal mmmg
Coal mining
Oil and gas e^traclion
NonmetalliC minerals, except luels
Construction
Total returns of active corporations
1,965,894
53.458
15,732
1.769
2,059
e350
3 5^1
105.563
7 J ,694
14,895
95 974
211.563
15060
63
6 274
16,106
13, SOB
6 931
3,765
29.271
9.860
Business
receipts
(2J
1,039
2,080
9 563
4.636
25,327
24,879
10.800
2,203
3,651
5,761
12.677
80.232
62 153
9369
214975
20 870
46 39'
386.772
31,319
10,996
26 335
63,863
38.529
36.044
76,601
103.085
676
425,249
14,534
48.597
4,867
8 343
35.387
266,615
46,905
388.B32
18,236
36 272
106 484
49.122
35 112
1 4 1 606
2.842
2.854,819.489
24.182,899
62.864.619
4.613160
9.011027
43 795 720
5 444 7l2
133.676.369
58,007 890
26425,003
49.243,476
155 441 333
13 068 216
30.639 012
30,216,703
26,989.430
10,140,592
34 412967
36 149 905
93,072 117
260.851.782
24,572312
7 506,702
26.399 248
90 065,973
59 134 318
89,748,666
80 754,549
102,829,051
40,079,044
20.312.772
92,059.069
50.510.561
71,648 150
906.907.258
491 668 543
76.875 101
59 142 737
355 650 705
415,121.401
23.366 956
60.586 829
96.770,380
95 286,353
20.345,266
18 394 225
28,116.387
52.255.003
117314
(49.205.190
10 369 7yy
17 249.661
2 600.417
98 299 376
6.697.331
13 128.075
660.331
110.497.541
8.^70 009
8 127.720
33.336.080
1 1 696 020
14 246 010
34.619.702
896.930
Net income
(less
deficit)
(3)
145,997.808
421.163
25.904.075
428,125
1 449,355
23 580,012
446 583
1.848.217
301,250
666,624
878.143
72.533.486
5 428 519
1.202 689
775 607
728.988
1 325 IB:
337.739
3,176 304
2 354.115
9.061 626
20,126,662
903.246
154 762
1 083 581
6 321.206
3.548.209
7 002.863
2,980.293
2,464 294
1,263,014
1,652635
2 657.392
3 462.587
2 563,891
22.573.062
16,294,358
933,287
3,544 702
t1 816,369
6 275,298
630 671
1,061 148
1.041.608
932416
497.334
291 209
567 468
1,243 444
3.406
11.504.156
2.834.767
1 .207,266
126.752
3,676,996
375.332
207.111
3.075 930
2.500.180
-102 064
319 093
803 908
294 439
486.761
698.043
29.599
66.112.969
335,628
12.257,873
214,859
581,960
11.263.679
197.375
1.184.33S
394 327
385.410
404.696
32.288.865
2,736.291
552.603
539.180
415.866
625.055
182 408
1 397.762
1 129.344
4207.149
7,038.220
436.770
104.755
518.709
2 707,709
1.629,096
3.426.598
1568.136
1.292.637
601.571
826,935
352.071
4.719,299
1.423.965
1 744 040
1.551.294
8.315,540
5.141.436
376.391
911539
3 651 506
3.173,347
245 944
779 599
495 205
439.527
250.437
148.090
277.217
537,328
(■)
5.570,370
1,578,659
801.604
122.067
2.056.474
146.733
657.182
205,651
1.431,617
85 287
127,935
470.812
132,257
308.309
307 017
9.462
4.016.466.940
19.283.714
47.039.718
9581,534
7,570,943
23 763,874
6123.367
74.108.047
38.011,499
16 029 914
20 0fi6 634
885.822.652
70 519 843
14.032,044
19.141 756
13.842.935
24 560 413
5,420,579
25.333 043
25 976.115
75,593,155
157,697,231
16 881,186
4 436 100
22 169 41.
76685 tl9
35,586,001
86,253884
73,161418
76.604.043
31, 067. 56'
17.427013
i:i?23 793
414.691,198
100,766 478
115 654 441
198.270.279
313.305,334
159,566,514
13.080.996
25,908.173
120.577.345
153,646,611
10.410 541
47.259,789
17.750.821
27,592.634
9.246.105
8 691 643
'2 055.330
20639 848
92,209
2.176.652,153
1 176.558.767
386,196,761
24 986 454
378.024,315
7.235,698
102.053.640
101.594.518
B4.979.68 1
4.927.054
26,013.120
9.612 486
16 682.866
16 080 369
Beginning
of year
584.443
253.886.642
2,021,497
1.838.399
476 652
218 158
768 137
3=.S452
10,318.031
6 954,61
741.83
2 621 5B9
139,104,709
13 421026
3,260 401
4 610 558
4.682 465
3 673 293
1 562.754
3 259,682
2,635072
11 039.652
6718,145
2,681988
1342.130
2 896.944
9 284 463
8.069,597
16 465 529
15,74fl,385
11,932,394
8,773634
3 632.260
3.214 315
8.908.265
1.927,364
3 085 942
3 894 959
84.934.386
38,104.506
3 411,298
6901.21
27 791.997
46812.130
3 555 949
12 140.883
5 367 075
11.497.503
3.476.652
3.186 548
575 161
7 013.359
17,750
3,080.975
55 450
1 204 025
CI
470,452
16,747
1.284 870
30.892
3,597,145
1J3.294
39') 3 1 3
999.333
584 681
994.86:-
431.661
81.235
End
of year
312.0%.928
1,985,683
3,014.709
788.701
318 727
1 414.558
492 723
12.332,603
8.161,365
1 093.120
3 0 78 I ! 9
5 169 893
4 826, 1 32
4 153.539
1 728.382
4,240 478
3.382 854
14 697.196
10,789.403
4 018,546
1 448.682
3.772,179
12.101.137
10.222,678
21219,345
18.512.496
14,380 854
10.883.641
4 437,525
2 704.675
3.646.837
6 601,555
100.043.924
46.811,724
3.715.558
9 437 205
33,658 961
53 207,578
3,866.964
12 554.404
6,285,939
14 364 626
3.757.213
3,529,121
706 596
e 142 713
24.622
3,761,428
63 561
1.610 672
CI
634976
16 476
1 488.924
37, -56
4,229.163
208 555
433.269
1 204,368
749,577
'. 025 566
607.848
84.155
Returns showing inventories for both beginning and end of year
773.373
14.468
3.057
154
262
1.304
1 337
23,578
3.903
148.549
12,742
57
4.029
9.715
8.272
5 366
3 034
15 542
7 104
596
6 199
1.866
7 596
Business
receipts
434.822
141 733
13 388
31.538
96.80;
292.802
26 100
8,934
19431
51.031
31.792
28,083
49,939
77 492
287
5.040
212
CI
36
212
4,461
66
15,066
15.246
22,647
2.425.365,219
14.562,784
56.127.235
4.075.319
5,878.984
41,340 673
4 832 259
28 306.750
16.796.465
34 are 9e4
1.203,472.050
151.014,894
12.709,092
28. 751.237
27.432.994
26,935323
9,707,341
33,600,593
31 546,905
91 612531
259.365,536
19,765.757
7,334.823
24,489,288
79.357.576
56.189.483
87,080 543
77,667.324
102 485,385
39,450.852
19,637.632
17.136.941
173,671.913
61 ,50B 958
48 020.663
64,142,092
815.371,384
428.534279
67.297 631
52,413.548
308.623.100
386.735,803
21.768.005
79,517,953
90 164.509
89.599.357
18.740.758
16 704.148
22 693 057
47,348,016
101,302
31.146,737
886,935
14.300,511
(■)
12,651.678
66.795
2,750,044
249.601
50,483,356
6.499.262
5 553,671
13 040,488
8.076 663
8.917 094
8,395.976
549.541
Net income
(less
deficit)
123,875,626
136,924
25.063.610
510.027
839 163
23.290.972
4,234,58
1.258,702
439.437
634,516
70.756.032
5,318,960
11.91966
767 396
721 849
1,363 663
337.403
3,162,504
2,200,870
8,923,142
20.037.538
755,645
147.724
1.061.536
5,497,195
3.441.231
6,878 687
2.961 138
2,464 185
1.253,356
1,621,087
658.95;
7.458.276
1.648.433
3.387.664
2.422.1
17.816.878
11 543 301
721 176
2 371052
8.451.073
5,271.265
623.687
1 .086 306
998 398
939.73'
494.896
308,922
613252
1 ,206,063
2,322
Beginnmr,
of year
252.595,744
2.001,770
1.834.419
476.652
218.054
786,815
352,896
6 783,747
708.130
2,639,938
13 404,569
3.260.401
4,790.698
4.657.147
3657.714
1.546585
3,255,468
2631 317
11.029,786
6718,146
2.681.968
1.342.130
2,891.45
9 281.408
8.056.604
16,440.265
16,731 750
11.932.394
6,755.962
3631,666
3 183.978
8.900,784
1.920,023
3,085,842
3.894.919
B4.265.S9l
37.625.609
3.351.009
6.848.462
27.426.148
46.622,532
3643340
12 140,883
5.349.373
11,391.134
3,462,346
3.184.400
568.698
6,982,358
17.750
69.80 1
50,848
150,525
1.190,195
CI
n
147 184
470,445
-5182
16 747
102 018
1,261 973
40 396
30 042
370.154
3,563,213
-38.883
192,077
251,514
393,018
341283
977 549
166 186
577,841
426 269
993.770
221 <85
428.956
Fooinote at end of lable See lewl lor Explanation of Terms and Description of the Sample and Limiiaiions ot the Data
80
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 8.— Returns with Beginning and Ending Inventories and with "Last-in, First-out" (LIFO) Mettiod of Inventory Valuation: Business
Receipts, Net Income (Less Deficit), Total Income Tax, and Total Assets, by Major Industry— Continued
|All ligures are eslimales based on samples— money amounis are in ihousancis ul dollars]
Total returns with LIFO inventory
method under Code section 472
Number of
returns
Business
receipts
Net income
(less deficit)
Total
income
tai
Total
assets
Inventories.
beginning
of
year
Inventories,
end of year
Major industry
Number
of
returns
Amount
(13)
(14)
115)
(16)
117)
(IB)
(19)
120)
18.&74
812.269,256
51,418,074
21,341,260
553.567.483
Agriculture, (orestry. and fishing
66
367,321
6,998
1')
197,995
46.171
54
48.789
Mining,
53
5,454,937
534,776
233.031
Metal mining
Coal mining
Oil and gas exKaclion
NonmeialliC minerals, except fuels
5
(■)
29
? 064 014
708 657
I')
1 28T499
203 4 1 6
95 840
n
40 833
78 717
40 978
D
27 008
3,753 431
357.352
C)
795.28:'
222 996
14 047
C)
81236
5
C)
29
333409
20,938
(■)
107 850
Construction
277
3.708.430
111.245
54.692
2.760.665
241.943
274
396.353
Geneial building conttaclors and operalive builders
Heavy conslruclion conlraclors
Special Irade conliaclors
24
75
178
381.645
2 334.975
991.610
1.071
72.893
37 267
(')
34.379
18,440
350,550
1,762,842
647,273
64 053
103 123
74.767
24
75
175
122,210
161,120
113,023
Manufacturing
7.775
633,562.957
45,466,539
18.693.604
447,945.766
56.596.519
7.704
73.218.205
Food and kindred produds
Tobacco manulaciureb
Te«lile mill producls
Apparel and olfier lenlile producis
Lumber and wood producis
665
5
137
116
363
34 378,808
7 455 408
11 081 930
1 787 467
10014 143
1.928,401
746 441
560.266
70 885
933 909
942.812
346.847
275.570
35 343
347.974
18.630 97?
8,375 426
6,969 436
1.225 578
10 708.461
3.050 083
1.563 770
1 794.420
401.855
1 235 227
680
4
136
114
361
3.690.736
1.827 426
1964,432
00,809
1 507.721
139
497
475
665
lit
2,230,913
22,608.296
10,102 122
60 512,763
240 071354
106.643
2.179,995
931.550
5,645,590
18 694 487
55,261
945,198
426.602
2,710,338
6 372 621
1,352 727
17,637.207
7,740.708
46,790,918
140 180 149
369.898
2.061.753
759,156
6.971.395
5 894,566
139
497
471
658
111
Peltoleum (including mlegraled) and coal products
9.069318
9,391 764
Rubbef and miscellaneous plaslics products
Slone, clay, and glass products
Primary melal industries
Fabricated melal producis
362
55
238
395
1,492
15 002 452
792,111
11991065
67 845,810
27.790,768
529,467
32,472
586,943
4.839,118
1 632,753
252.437
13,884
268,363
2 106,014
664.595
11.572.904
532.179
11,053 570
53,205.256
18,267.205
1,563.731
126,922
1 623,794
6,444,765
4.059.445
379
55
236
380
1.485
2,648,025
137,882
1 973 280
8.737 407
5 148.395
Macfitnery, except elecincal
Eleclfical and electronic equipmenl
Molor vehicles and equipmenl
Transportation equipment. e«cepl motor vehicles
Instruments and related products
Miscellaneous manufacturing and manulactunng not allocable - , . -
951
296
116
82
115
460
54 949 955
34,904,216
9.156^63
16.334.711
9 130.116
5.2?i 744
1,790.924
1.355.178
247,470
816,461
1 179 120
258 446
645,761
690.971
136,218
353,369
579.706
123 720
29.638.376
29,408.251
7.890 068
12,815,960
7,179.369
4 771 043
6.908,092
5,340,463
1.624,393
2.376.687
1.451.734
946 370
943
290
116
77
112
458
8,794,246
5.895.081
1.829.702
3,354,412
1.678,478
1 101621
1.446.522
452.177
CI
324,050
Transportation
Communication
Eleclric, gas ar>d sanitary services
286
14
5.255.825
("1
4 596.548
229.915
(*)
212,217
107.926
(*)
114,300
7,109,051
1*)
9.762.010
371,333
I')
268 597
70
n
9.556
5.396
326
1.028
4.042
152.942,514
75.048.389
11.679.416
9,654,544
53.714,429
4.552,486
3.231.470
185.812
606,036
2,439,622
1,987,708
1.337,114
84.41/
277,677
975.020
63.024.777
30.949.691
1.857 177
4,672,868
24,419,646
15.420,506
6,519,334
636.797
1 446 358
4 436,179
9.413
5.278
298
1.017
3,963
Wholesale trade
Groceries and related products
Machinery, equipment and Supplies
Miscellaneous wholesale irade
8,014,863
669.907
1,913,567
5431,389
Retail trade
Building materials, garden supplies, and mobile home dealers
General merchandise stores
Food stores
Automotive dealers and sen/ice stations
4.155
309
435
554
1.362
77,882.634
1.835.928
31,409,255
26,924,345
10.647.800
1,320.241
49.145
568,920
332 424
201 183
650,232
33.266
26,1.423
151,703
109.005
32,054,636
680.340
20.307.454
5,159,459
3.158,639
8,898.174
252.888
4 975,196
1 518.787
1,019614
4,130
309
419
553
1,359
9.599.861
237.918
5,147,144
1,768,443
1.257,340
Apparel and accessory stores
Furniture and home furnishings stores
Eating and dnnking places
Miscellaneous retail stores
383
163
CI
821
1.751, 177
496,626
n
4.597,021
69,959
10,742
(■)
78.310
33,191
5,420
(■)
40,012
881,427
313,435
n
1 427.465
331,262
102.767
(■)
683.938
383
163
C)
817
320,138
118,737
C)
735.096
I't
160
(•)
238.392
(•)
-659
(•)
5.631
1")
585.042
f)
88,590
C)
12
99.480
Banking
Credit agencies other than banks
Security, commodity brokers and services
Insurance
Insurance agenis, brokers, and services
Real estate
Holding and other inveslmenl companies except bank holding companies
(')
4
87 534
(*)
47 443
-587
I*)
73
34
)■)
459
319.931
C)
76,311
16.357
C)
9,492
C)
n
3
C)
n
12 567
337
CI
41
218
D
1,117,568
n
(•)
325 68b
423.894
(•)
(")
78,106
1")
D
25 536
34 878
1")
33.169
1*)
I'l
CI
CI
CI
CI
875,026
C)
C)
268.702
414,385
(■)
("1
93.039
C)
(')
35,871
(■)
333
(■)
[•)
41
218
I'l
(•)
Hotels and olher lodging places
Personal services
Business services
Auto repair, miscellaneous repair services
Amusement and recreation services
Other services
Cl
I'l
52,687
48207
CI
CI
(•)
(•)
(■)
n
C)
(•)
C)
Footnole at end of lable See text for Explanation o( Terms" and ■Description of the Sample and Limitations of ihe Data
Corporation Returns/1974
81
RETURNS OF ACTIVE CORPORATIONS
Table 8.— Returns with Beginning and Ending Inventories and with "Last-in, First-out" (LIFO) Method of Inventory Valuation: Business
Receipts, Net Income (Less Deficit), Total Income Tax, and Total Assets, by Major Industry— Continued
(All figures are eslimaies based on samples— money amounis a'*^ m inousdniJs ot dollars)
Returns iridics^ina adoption ot LIFO (or 1974 incotne year
Business
receipts
Net income
(less deficit)
Tola!
income
Tola)
assets
Inventories
begmntng
Inventories, end of year
All Industries
Agriculture, toresliy, and tishing .
Mining
Melal mining
Coal mining
O'l and gas extfaclion
Nonmelallic minerals, eicepi luels
General building contractors and opeialive builders.
Heavy Lonsiruclion contractors
SpeciaMiade conlraclors
Manufactunng. .
Food and kmdred products
Tobacco manulacfures
Tenlile mill products
Appare' and other leilile products
Lumber and wood products
Furniture and l^xlures
Paper and allied products
Printing and publishing
Chemicals and allied producis
PeUo'eum jmciuding integrated) and coal products
Rubber and miscellaneous plastics producis
Lealtier and leaihe' producis
Stone, clay, and glass products
Primary melal jfidusTnes
FaDncalfd melal products
Machinery. e»cept electrical
Electrical and electronic equipment
Molor vehicles and equipment
T'ansponation equipmenl. eicepl motor vehicles
Instruments and related piCKJucts
Miscellaneous manulactunng and maru'dctunng not allocable
Transportation and public utilities
Trarsporialior^
Com muriiL alio n
Electric gas and sanciary services .
ttthotesaie and retail trade
Wholesale trade
Groceries and related products
Machinery, equipment, and supplies
Misceirjneous wholesale trade
Retail trade
Building materials garden supplies and mobile home deak-r
General merctiar)dise stores
Food stores
Automotive dealers and service stations
Apparel and accessory stores
Furniture and home lurnishmgs stores
Eating and dnnkmg places
Miscellaneous retail stores
Wholesale and retail trade not allocable
Finance, insurance, and real estate ,
Banking
Credit agencies other than banks
Secunly commodity brokers .ind services
Insurance
Insurance agents. broKers and services
Real estate
Holding and other mvcstmenl companies, except bank hol'lmq companies
Hotels and ottier lodging places
Personal services . .
Business sen/ices
Aulo repair miscellaneous repair services
Amusement and recreation services
Othe* ser-.'io-'s
Nature ot business not allocable .
122)
14.105
n
50
669
205
105
65
79
373
199
179
5
7.362
4.106
271
857
2,978
3 253
256
377
n
696.983.016
(•»
5.035.143
1 263 489
2.514,426
559.06 1.144
24,124,378
7 21 1. 594
9.941,990
1.645.455
4 405 093
1,646.304
19,549.582
8.010,040
55 388,937
221.843467
14 626 469
531.610
9.234.024
58.088,086
24 636 406
28,807.0/2
32.851,565
8,172,526
T 5,640 337
6,08 1 822
4,642,285
10.70e.S34
J 'V.:.:>5i
' On.2'16
120.1 38.730
55.738.710
10.395 962
6.362.179
36,980,569
64 394 959
1.374,222
24,906.575
22.795,906
9,856.212
1.1 62,285
367.305
CI
3,801,210
CI
214,820
{•)
41.795
945,002
n
[*i
320.994
n
475.802
190 656
9''. fi40
40«.n
79.129
37.16.
41 409
40.353.069
1 .602.322
735 76
524 114
63 180
316 695
60 341
1,897.514
749 128
5.062.B61
17.389 238
508,928
16.569
433 837
4 248.696
1,605.143
1,497,197
1,260.626
226,899
776.158
1,146,870
206,792
SS3.402
237.405
i'\
93 664
3.623.190
2,576.127
128,967
533.
1 914072
1 .046 742
25.302
428 115
272.992
192,455
54.347
11,639
-42?
64.175
t')
24,390
16.427.J6<
470.118.116
CI
(■)
Jl»,761
5.870,697
d0 9?8
3,573 100
357,362
27 008
795,283
37,9B6
2,011.325
1")
17719
18 404
t')
1 399 637
030 048
16.343.861
385,900.866
789064
345,089
251 378
31.248
115J66
14 920 156
8365.756
6,334,557
1.151.570
3,861.089
31,561
818,133
344,4-9
! 348 953
5767 999
991,288
15 432 453
6 043 654
44 946 042
119,421,477
242 419
7.981
197 020
1.834,837
745.296
11.380.284
402,256
8,093 319
45.391.914
16,473,743
707,996
643,748
122,865
334,122
565,096
99,369
23.923,618
28,007 845
7 385 163
12,384,051
6609,279
4,381,350
255.113
23.492.297
107 649
6,029,845
41679
247?C93
1.549.551
51.383.412
1,041,415
59 601
242,673
739,141
25.641,428
1,560.688
4 080 '32
20 000.606
507,998
12,519
204 945
125 739
103 112
25 738,624
517.093
15,916,316
4327961
2925916
25635
4,980
n
27142
626 467
224,113
I'l
1,105 145
n
n
2,754
507,477
62,887
776.804
CI
374.758
206 233
14047
81236
195,731
48,833.877
2,272940
1561008
1,634,950
367,143
555,61 1
297362
1,799,876
613,638
6 412 447
5278,832
1 518,617
92,713
1.291.131
5.204.833
3.587.674
5,555.838
4967.318
1 465,847
2,235,558
1278.894
841 247
923,064
312,802
'■]
'3 679
12.474.073
5 104 413
560,315
1,245998
3,298,100
',367.764
205,199
4,047.694
1 309,672
930,542
245 444
79,127
n
6 789
7,327
4,067
271
849
2967
3,237
258
365
l"l
CI
CI
CI
CI
CI
CI
534.668
302 834
20.938
CI
107,850
332.717
CI
132 524
109 894
63.046.483
2 700,058
1.623 303
1,831,028
396.585
639.163
342,394
2.257,936
791688
8,223 898
8,245 365
2603,799
100,498
1575,815
7,059.325
4,543,316
7,116,714
5 460,389
1,663,394
3.207 626
1,479,167
985002
1.140,334
14,514.674
6,479 546
591569
1665,912
4 222 065
8032,710
168,889
4 267 295
1 497,810
1,154.519
243.708
92,985
CI
575,720
CI
52.367
CI
ClEslimale is nol sfiown separaloly because 01 Ihe small nymDer ol sample returns on which il was based Huwevei the dala aie mcljded m ihe appioptiale totals
NOTE See lesl lot Explanation ol Teffns and Desctiption ot the Sample and Limitations ol the Dala
82
Corporation Returns/ 1974
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Corporation Returns/ 1974
87
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Number Of relurns
Tai return nel income (less del
atler tax
Book net income (less deliCil)
Provision for Federal income la
Number 01 relurns
Amount
Total income lax after mveslme
work incentive (WIN) credils
Foreign tax credit
P
Returns wiin book net income
return nel income alter lax
Number of relurns
Book nel income
Tax return nel income
Proifision tor Federal income
Total income tax after mvesli
work incentive (WIN) credit
Foreign tax credit
Returns with book nel income
return del>Cil atler tax
Number of relurns
Book nel income
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Provision lor Federal income
Total income lax afler mvesli
work incentive (WIN) credit
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1^
■0
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Book delici!
Tax return defial
Provision (or Federal income
Total income lax afier invest
work mcenlwe (WIN) credit
Foreign tax credil
Returns wth book delicil and I
return net income after tax
Number ol returns
Book deficit
Tax return nel income
Provision for Federal income
Total mcome tax after mvest
work incentive (WIN) credit
Foreign lax credit
1 - l«?.f^
Oepreciatton
Depletion
Amortization
Bad debts
Constfuctfve taxable income frc
foreign corporations
Corporation Returns/ 1974
89
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Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry
[All litjufos are eslimales based on samples— money amounrs are m thousands of dollars]
All industries
Ma|or industry
Number ol
returns
AmounI
Agriculture.
lorestry,
and
fishing
Mining
Item
Total
mining
Metal
mining
Coal
mining
Oil and gas
eKtraction
Nonmetallic
minerals.
except
fuels
(1)
{2)
131
(41
151
(6)
(71
(!l
Number of Returns With Income Tax
Number ol returns witri—
Income lax, lola)
Form 11 SOS
888 582
319
2
2102-
n
6822
62
1292
3.777
1,691
Normal I3x. suna> and allernative lax
871,869
20 147
6389
57
1,171
3,488
1,673
Tax Irom recompulirg prio< year mveslment credil. lolal
Reiurns wilh nel income
96,387
81 343
-
4,011
3,173
1,578
1,297
14
14
293
206
936
747
335
330
Addilional lax lor tax prelerences, lotal
Reiurns wilh nel income
Reiurns with normal tax, surtax, and alternalwe lax
4 575
4.156
3,872
I
7
4
721
653
566
24
24
19
270
259
236
312
260
212
115
110
99
Notmat lax, surtax, and allernaiive tax aller crediis
776.515
-
16,184
5.225
53
995
2,853
1.324
Total income la» aiiet —
Foreign lax credit
InvesimenI and work mceniive (WIN) credits
Foreign lax, mveslmenl and work incentive (WIN) credits
886 240
803,740
603,159
=
21027
17,626
17,626
6.811
5,893
5,882
58
62
58
1292
1 124
1 124
3,770
3,270
3,263
1.691
1.437
1,437
Returns With and Without Net Income
Number of returns
1,965,694
"
53,458
15,732
1 769
2,059
8,350
3,554
Dividends received Irom domeslic corporations, total
AmounI qualifying lor 85 percent deduction
Amount on certain public utilily slock qualifying lo' 60 208 deduction
Intragroup dividends qualifying for 100 percent deduction
Intragroup d'Vidonds qualifying tor transitional (deduction under seciion i56J(b)
Amount received irom a DISC or former DISC
105,986
102.421
1686
1 009
809
3.158
13.792,00/'
10.845714
17.2?4
894.967
63457
1,950,645
25378
20,159
I'l
I'l
(*)
5,084
168,008
99,935
CI
CI
CI
48,018
44,607
32,772
I'l
50,372
21 303
C)
C)
CI
CI
66,067
41,607
CI
CI
6,962
4,253
I'l
I'l
CI
Dividends received from toreign corporations, lolal
Amount qualifying (or 85 percent deduction
Intragroup divirii^nds qualifying for 100 percent deduction
Ottier foreign dividends
5 027
534
138
4.360
7443,159
8.647
10542
7,423 970
13,309
CI
13,308
102,737
CI
CI
102,718
86,374
86,374
CI
CI
C)
13,810
CI
CI
13,791
I'l
CI
CI
Construclive taxable income from related foreign corpoialions
Includable income of Conirolled Foreign Corporations
Foreign dividend income resulting Irom loreign taxes deemed paid
327
1 177
477 192
3,138 184
CI
CI
32,939
I'l
CI
CI
CI
CI
C)
Net income (less delicil)
1,947,275
145,997808
421 163
25,904,075
428,125
1 449 355
23 580,012
446 583
Stalulorv special deductions, total-
Dividends received deduction
Deduction for dividends paid on certain public uliiity stocti
289.4B2
89818
143
15 194,642
8,678,454
34,475
98 794
15,827
601,421
104.550
131,268
27.600
127831
19,787
266191
51,458
76,131
5,705
Income subject lo tax-
871.867
143,982,513
875,563
25,556,760
423.040
1 224,960
23494 209
414.551
Income tax, lotal'
Normal tax surtax, and alternative lax
Tax from recomputing prior year inveslmenl credit
Tax from recomputing prior year work incentive (WIN) credit
Additional tax tor lax prelerences
888 582
871 869
96,38/
438
4,575
66,112989
65 586,637-
179,121
446
346,785
335,628
332,826
2,705
CI
97
12257,873
12,206,727
3923
CI
47,219
214,859
197,667
194
I'l
16,994
581,960
571 409
991
9 560
11263,679
11,248,094
1,193
14,392
197,375
189557
1,545
CI
6,273
Foreign lax credit
Investment credit'
Work mcenttve (WIN) credil
Normal tax, surtax, and altemalive ta« alter credits
6 960
533.947
4,229
776,515
20,752,819
4,221,384
7,795
40,604,6,39
1,058
42,576
CI
289,187
11,061,741
134.767
77
1,010,142
84,315
19.463
CI
93.820
CI
43,731
CI
476,685
10,867,032
36,695
CI
344,366
CI
34,878
CI
95,271
Tolai income tax alter—
Foreign tax credil
Investment and work incentive (WIN) credits
Foreign tax, investment, and work incenltve (WIN) credils
888.240
803 740
803 159
45,360,170
61,883,810
41,130,991
334,570
293,047
291.989
1,196132
12,123,029
1,061,288
130.544
195.327
111.012
530,973
538,223
487,236
396,647
11,226,983
359,951
137 968
162 496
103,089
Personal Holding Company tax
1070
1,794
CI
CI
-
-
CI
-
Eslimaled tax payments, nel lolal
1973 overpayments claimed as a credit
1974 estimated tax payments
Less Refund ol eslimaled lax payments
48! 744
102 220
439,146
10.219
27,906,050
1,290295
27,944,938
1,329 425
177,008
7,510
177 939
8,355
369.095
17.550
355,497
3,951
47,283
tl
45,628
C)
110358
2,730
107,737
I'l
166,450
7 101
149,537
i'l
55 004
4,979
52595
2,568
Credit lor lax on special fuels, nonhigfiway gasoline, and lubncaling oil
Credil lor lax paid by regulated mvestmenl companies
Payments wilh applications for (irsl extension ol filing time
Payments wilti applications for second extension of filing lime
33 451
263
121,541
16,513
38 746
1,583
6273,122
3,911,393
3,572
CI
19,614
3,912
2,173
CI
250 660
162,173
467
32,444
30,088
381
114,066
66,595
876
CI
75,197
51,193
449
28,953
14,297
Fooinotes at end of fable See tent for 'Explanat-on ol Terms" and "Descriplion ol ihe Sample and Limitations ol the Data "
Corporation Returns/ 1974
91
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit. Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry-
Continued
[All ligufes are eslimates based on samples— money amounis are in IhousanQs ol dollarsl
All industries
Major industry
Numbet ol
returns
Amount
Agricullttre.
forestry.
and
fishing
Mining
Hem
Total
mining
Metal
mining
Coal
mining
Oil and gas
exiraclion
Nonmelaltic
minerals.
except
luels
(tl
(21
131
|4|
|5>
(61
(71
(6)
Returns With Net Income Olhei Than Forms 1I20S and 1120-DISC
Number ol returns
1,006,367
-
22 769
7 557
68
1.241
4.296
1.952
Net income
-
160,552,880
969 086
26 148 424
554 284
1352.762
23,752194
469.164
Stalulorv special deductions total
Net operatinQ loss deduction
Dividends received deduction
Deduction tor dividends paid on certain putilic utility slock
Western Hemisphere Trade Corporation deduction
275819
20,610
76306
120
657
14 526 422
5.439.290
8.024.945
20.772
1.041.415
96077
92 928
13.110
CI
591 519
418 197
94.648
78 674
131,241
74 169
27,573
CI
127 831
102.818
19.767
CI
257,558
207.054
42.825
7.679
74.869
34.156
4.463
CI
Income subiect to la» lolal
Income ta*ed at normal ta» and sufta< 'ales
Nel long-term capital gam taxed at alternative tales, total
Amount tailed at 25 percent rate
67152a
970,725
33 624
M63
143 964 923
138 712.701
5 222 122
167.960
875 103
610.933
64.170
4 226
25.556.760
25.382-004
174 756
2.049
423.040
395970
27070
CI
1,224.960
1,169.924
55.036
CI
23.494.209
23,417.050
77.159
CI
414.551
399060
15.491
CI
Income Ian total
Normal lax surtai. and alternative tax
Tax tiom recomputing prior year investment ctetjil
Additional tax tor tax preterences
872 832
871 525
81.343
393
4 153
66072.858
65 580.982
156.256
418
335.202
334 922
332.688
2 160
CI
74
12.252.868
12.206.727
3 732
CI
42 405
214.859
197.667
194
CI
16.994
581.829
571.409
904
9.516
11259 126
11.248.094
1.104
9.928
197.054
169.557
1.530
CI
5.967
Eslimaled tax payments, net total
1973 overpayments claimed as a credit
1974 estimated tax paymenls
Less Relund ol estimated lax payments
431 912
85.625
398 022
5,816
27 693.169
1201 175
27 449132
957.111
170.299
6.031
168.322
4.035
368,432
17,225
354,721
3,500
47.283
CI
45.628
CI
110,345
2,730
107,724
CI
156,346
7 063
149.484
CI
54.458
4.692
51.895
CI
Returns Without Net Income Other Than Forms 1t20S and 1t20-DISC
Numttei ol returns
617,967
-
13.512
5,812
1.511
317
2.658
1 126
Oeticit
603,9%
23 046.106
631.392
462,687
121365
45,584
233.963
61.755
Statutory special deductions iclal
Dividends received deduction
Deduction lor dividends paid on certain public ulility sloch
13,513
13 506
23
667.206
653.503
13.703
2.717
2.717
9,902
9,902
CI
CI
2
6.633
8.633
CI
CI
Income subject to tax-'
Income tax. lolal-
Normal tax- surtax, and alternative lax
Tax Irom recomputing prior year investment credit
Tax Irom recomputing prioi year worl" incenltve (WIN) credit
Additional tax lor lax preterences
24
15431
25
15 044
45
419
2.539
35,563
1-136
22.865
28
It. 532
568
545
CI
5 005
CI
4,914
^
CI
CI
CI
4553
CI
4.464
CI
CI
CI
Returns of Small Business Corporations. Form 1120S
Number ot returns
Nel income
Number ol returns
Amounl
Delicit
Income subject to corporation lax
Income lax
333 099
193,056
135,453
319
319
5668.667
2 1 19 036
15 151
4 568
17 176
8.732
350 073
266.606
CI
CI
2,363
1374
256,342
38 004
CI
CI
CI
CI
501
315
146.624
CI
1,196
794
80,198
16397
476
262
25.499
CI
Foolnoies alendof table See lexl lor ir >Dlanaiion ol Iein'>s anO Descnpiion oi the Sample and Limiial'onsol Ifie Dala
92
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S) by Major Industry-
Continued
[All figures are esiimates based on samples— money amounis are in Ihousands of dollars)
Ma|or industry— Continued
Construction
Manufacturing
Item
Total
construction
General
building con-
tractors and
operative
bulWers
Heavy con-
struction
contractors
Special
trade
contractors
Total
manutaclurlng
Food and
hlndred
products
Tobacco
manu-
factures
Textile mill
products
Apparel and
oltier textile
products
(91
(10)
(11)
(12)
(131
(H)
(151
(161
(17)
Number of Returns With Income Tai
Number of returns wilh—
Income lax, loial
Form 1120S
73.22?
(•)
25974
7320
39 928
CI
105,650
C)
8 871
62
2 737
7,363
CI
Normal tax, surtax, ar>d alternative lax
70085
24,584
6.852
38.649
102,932
8.391
60
2.661
7.249
Tax from recomputing prio' year inveslmenl credit, total
Relurns with net income
It 7M
9,101
3.858
2.646
2.319
1.967
5.587
4.488
19137
16.603
2028
1,571
23
21
471
402
549
436
Addilional lax tor lax preferences, total
Relurns with net income
Returns with normal lax, surtax, and aliernalive tax
90
61
30
37
17
C)
44
38
CI
CI
CI
CI
226
177
155
CI
CI
CI
I
CI
CI
CI
Cl
Normal tax. surtax, and alternative lax afler crediis
60 793
22 163
5,074
33,556
90.387
7,149
26
2,310
6.859
Total income lax atler-
Foreign tax credit
Investment and work incentive (WIN) credits
Foreign lax. inveslmenl. and work mcentive (WIN) credits
73 221
65,444
65 439
25.973
23.926
23,925
7.320
5.872
5.868
39.928
35.646
35.646
105.606
94.531
94,469
8,870
7,744
7742
61
34
33
2.737
2.451
2,451
7.359
6.989
6.985
Returns WIIH 3nd Without Net Income
Number ot returns
185,563
74,694
14895
95.974
211563
15060
63
6 274
16.106
Dividends received Irom domestic corporations, lolai
41,293
36,390
CI
2 101
D
2202
10,778
9,947
CI
CI
CI
I'l
22 046
20.022
C)
CI
CI
CI
8.469
6,421
CI
CI
C)
8,279 697
6.485.030
175
160 132
20019
1 614 341
169.734
35.574
CI
CI
3,848
78,456
75,317
31,957
CI
C)
35,760
6.954
C)
C)
CI
18760
16,183
Amniinl fiiialiluinn Iftf flS npfrpnl flPduCtiOn .
12.440
Amount on certain public utility stock qualifying for
60 208 deduction
Intragroup dividends qua'itvmg lor 100 percent deduction
tntragroup dividends quaMying '0' transitional
deduction under section 1564(b)
Amoun! received Irom a DISC or lormer DISC
CI
CI
2.814
Dividends received from loreign corporalions total
Amount Qualilying tor 85 percent deduction
Inlragroup dividends qualifying for 100 percent deduction
Other foreign dividends
52 524
CI
52 519
22 189
CI
22184
27,507
27 50r
CI
CI ~
6.658,615
35
CI
6,654758
282.581
CI
C)
282.560
CI
C)
16 004
CI
16,004
2.187
2.187
Constructive laxable income from related foreign corporations
Includable mcome of Controlled Foreign Corporalions
Foreign dividend income resullmg from loreign faxes
deemed paid
CI
35824
CI
18772
CI
15 024
CI
401,178
2852 646
11336
161,954
CI
CI
CI
2 417
CI
CI
MdI inrnmf Uf^^ HpfiCiT) ....
1,848,217
301 250
668 821
878 143
72,533486
5.428.519
1,202 869
775,607
728.988
Statulory special deductions, lolal'
Dividends received deduction
Deduction lor dividends paid on certain public utility slock
379,986
31826
180147
8 392
93,394
17508
106 445
5 928
8556,362
5,693,427
CI
182.602
85 630
59 827
59124
55.349
15.885
43.907
11.352
Inmrttct ^iihiPTt In lAX- .....
2945,829
1,184,335
1,175,488
7.206
10
1,631
964 769
394 327
391,899
1.493
CI
932
868,342
385410
381060
3,731
CI
619
1092 718
404,696
402.529
1.982
CI
CI
68,892 235
32 288 865
31.971,630
94 035
359
222,841
5791051
2.736.291
2.728.261
7.947
C)
C)
1 148,720
552603
549.964
2.621
CI
1.146 889
539.180
536.709
2321
CI
CI
921-803
IIILUIIK? ^UUJt:^! yj 'O* .........,.,,,..»,.,•.•..-
Income lax, total'
Normal 1a«. surla* and allemative tax
Tax Irom recomputing prior yeat investment credil
Tax Irom recomputing pnor year work incentive IWIN) credit
AdtJitional tax lor tax preferences
415.866
415.297
569
Cl
CI
Foreign tax credit
Investment credit-
Worl( incentive IWIN) credit
Normal lax. surtax, and aliernalive tax alter credits
55296
102.834
162
1.017.196
27 934
21 725
CI
342 208
23,027
49.267
28
308738
4 335
31 842
CI
366.250
8379 785
2,111 709
5,336
21,474800
293 719
168,862
136
2 265,544
CI
21,549
CI
362,676
6573
41.217
167
488.752
4.053
11.306
236
399,702
Total income tax alter—
Foreign tax credil
Investment and worK incentive (WIN) credits
Foreign tax. rnveslment and worlr incentive (WIN) credits
1,129 039
1.081.339
1026,043
366393
372 570
344636
362 383
336 115
313.088
400 263
372654
368,319
23,909.080
30,171820
21.792.035
2,442,572
2 567,293
2,273,574
386,886
531034
365,317
532.607
497796
491.223
411,813
404,324
400.271
Personal Holding Company lax
C)
-
-
CI
CI
-
-
-
-
Eslimaleo tax payments, net total
1973 overpaymenis claimed as a credit
1974 estimated tax payments
Less Retund ol estimated tax payments
612921
56,265
586,340
29,721
200,531
22555
193 102
15 242
187.304
13 267
181,231
7 202
225,086
20,443
212,007
7277
14,640018
613.800
14745,790
719,463
1 568.987
69,575
1.544.258
44,859
314.241
C)
305.592
(•)
383,798
20.962
401 121
38.305
330,310
22.492
330.642
22.801
Credit for lax on special luels. nontiigtiway gasolrne, and
lubricating oil
Credit lor tax paid tty regulated investment companies
Payments wilh applications tor lirsi extension ol tiling time
Payments wilh applications for second extension ot tiling lime
3469
CI
136 955
31,507
593
53 821
. 7.368
2,130
42 918
17 068
746
C)
40,216
7071
19,103
C)
3,758,156
2.724.457
1,162
(•)
304 906
229 989
97
51,731
CI
184
48,392
22 366
37
41,683
16,761
Footnotes at end of table See text lor "Explanation of Terms and Description of the Sample and Limitations of the Data
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 11. — Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions. Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S) by Major Industry —
Continued
lAI,
figures are esiimates based on samples— money amoufiis are m ihousanOs of dollars)
Mator industry— Continued
Construction
Hanulaclunn«
Item
General
Total
construction
building con-
Heavy con-
Special
Total
manufacturing
Food and
Tobacco
Textile mill
products
Apparel and
tractors and
operative
struction
contractors
trade
contractors
kindred
products
manu-
lactures
oilier teitlle
products
builders
W
(101
(HI
(121
(131
1141
1151
(161
(171
Return* With Net Income Other Than
Forms 1I20S and 1120-DISC
NumOer Ot returns
83 606
30 112
7.787
45,709
116,098
9328
60
3.167
7.986
Net income
3 311.845
I 162.752
951.091
1.198.002
77.2%.146
5.%7 925
1208.275
1.201393
965.021
Slaiulory special deduciions toial
367,213
178.674
82.703
105.636
8.509.050
177.354
59.558
54.546
43.294
Nei operaiing loss dMucIion
345,360
171 285
74 464
99,611
1.941 120
93.608
Cl
39.427
32.331
Dividends received deduciion
19,055
7 119
6,817
5.119
5646.115
80.382
58.855
15.082
10.739
Deduction lo' dividends pa-d on cerlam public ulilily siocfc
—
—
—
—
1*1
—
—
—
_
Western Hemispnere Trade Corporaiion deduClton
2,798
C)
(•|
Cl
921.799
3364
Cl
Cl
Cl
Income subjeci lo lax, loiai
2,945 794
984.769
868,342
1,092.683
68.888.391
5.791 051
1 148.720
1 146.889
921.789
Income laxed at normal ta« and sunan rales
2873039
952 158
840,944
1.079,937
65.271.39!
5.717.103
1.142.291
1.133.243
918.886
Nel long-term capila! gam taxed ai allernaiive rates iola>
72,755
32 611
27.398
12,746
3617.000
73.948
Cl
13.646
2.903
Amount taxed al 25 percent rale
2465
1 768
C)
C)
130188
4.610
Cl
563
n
Income lax, loial
1,182.734
393 745
384 820
404 169
32.277.536
2.734.640
552 597
538.679
415.724
Normal lai. Surtax and allernalrve tax
1,175.477
391899
381,060
402 518
31 970.477
2.728.261
549.964
536.709
415.293
Ta" from recomputing prior year mvestmeol credit
5,810
1.093
3,141
1 576
95.328
6.299
2.615
1.834
431
Tax Irom recomputing prior year work incentive (WIN) credil
CI
Cl
(■)
Cl
336
Cl
Cl
Cl
Cl
Additional tax lo' la> prelerences
1440
753
619
Cl
221.395
Cl
-
Cl
-
Eslirr;ated la« payments, net total ,
591084
192 992
183.192
214 900
14583.330
I 562 750
314.111
380 186
321.066
1973 overpayments Claimed as a credit
48 174
17,530
12412
18.232
582.905
67 982
Cl
18 703
20.227
1974 estimated tax payments
561,074
183 534
175,570
201.970
14.533.930
1.527.380
305 485
386.064
313.545
Less Refund o' estimated la« payments
18.068
8,195
4,684
5.209
533.405
32 622
Cl
24585
12680
Returns Without Net income Other Than
Forms 1120S »nd 1120-DISC
Number ol returns
64 185
29,754
4.726
29 705
59.556
3 767
3
2.451
5.054
Deficit
1.822.119
921,506
328,2%
572 317
5.443060
626.775
Cl
430.185
303.633
Statutory special deductions, total
12,773
1.273
10.691
809
47.312
5.248
Cl
803
613
Orvidends received deduction
12,773
1273
10,691
809
47312
5.248
Cl
803
613
Deduction lor dnndends paid on certain public utility stock
-
-
-
-
-
-
-
-
-
Income subiecl lo ta>-
_
_
_
_
_
_
_
_
_
Income ta<, total'
1.590
582
590
418
10176
1.651
C)
501
138
Normal lax surlai arK) alternative tax
—
—
—
—
—
—
_
_
_
Tax from recomputing prior year investmenl credit
1.396
400
590
406
8707
1.648
Cl
487
138
Ta> Irom recomputing priof year work incentive (WIN) credit
CI
I't
—
Cl
Cl
Cl
—
_
Cl
Additional t8« tor ia» preference
191
179
C)
Cl
1 446
Cl
-
Cl
Cl
Helums 0( Small Business Corporattons, Form 1120S
Numoer ol felurns
37,770
14.828
2.382
20.560
33 909
1965
_
656
3.066
Nel income
Number ol returns
23,266
8.S09
1.515
13242
19.745
1 140
—
372
1.899
Amount
612 867
218.251
71.293
323.323
950.462
109.120
—
16,039
82.478
Oelicil
254,375
158 247
25.264
70,865
270062
19751
—
11,640
14.876
Income subfecl lo corporation la<
Cl
—
—
C)
Cl
—
—
—
Cl
Income tax
CI
Cl
I't
"
Cl
Foolnoles al end of table See te«l (or Enplanation o( Terms and Description ol the Sample and Limitations of ihe Data
94
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry-
Continued
[All figures are estimates based on samples— money amounis are in thousands ol dollars|
Major InduslrY — Contrnued
Manulaclunng— Continued
IMm
Lumber and
wood
products
Furniture
and fixtures
Paper and
allied
products
Printing and
publishing
Chemicals
and allied
products
Petroleum
(rnctoding
integrated)
and coal
products
Rubber and
miscellaneous
plastics
products
Leather and
leather
products
Stone, clay,
and glass
products
US)
(191
120)
121)
122)
(231
(24|
1251
1261
Number ol Returns tWrth Income Tai
Number ol returns witti—
Income tai total
Form tl20S
5.591
(')
3,337
2,664
12621
4,791
711
4233
1 112
4 965
CI
Normal lai. surtax, and alternative lai
5 303
3252
2,611
12.345
4,679
698
4 108
1 106
4,798
Tax from recompulrng prior year investment credit, total
Returns wiin net income
M67
1 186
582
513
459
418
1.943
1.683
831
722
127
123
823
699
146
140
1.209
1.057
Additional lax lor tax preferences, total
Returns witn net income
Returns with normal tax sudax and alternative tax
16
16
16
CI
C)
CI
CI
4
4
C)
CI
CI
8
8
6
31
29
22
CI
C)
CI
CI
50
31
30
Normal tax. surtax, and alternative ta. alter credit
4.7112
2741
2,242
10097
4334
647
3 702
962
3953
Total income tax attei—
Foreign lax Credit
Investment and work incentive (WIN) credits
Foreign lax. investment and work incentive (WIN) credits
5.591
5.172
5.172
3,336
2,941
2,940
2,664
2,299
2,299
12.621
10.608
10.606
4,790
4,458
4,457
710
663
662
4230
3836
3,833
1 109
974
968
4.96S
4,276
4,276
Returns Wllh and tAliIhout Net Income
Number ol returns
13.508
6,931
3.765
29.271
9860
1,039
8,109
2 080
9563
Dividends received Irom domestic corporations, lolal
Amount quatitying lor 65 percent deduction
Amount on certain public utility stock qualilying tor
60 208 deduction
Intragroup dividends quatitying lor tOO percent deduction
Intragroup dividends quatitying lor transitional deduction
under section 1 564(b)
Amount received Irom a DISC or former DISC
172.361
5.670
(•)
(•)
166,378
1,760
946
C)
C)
C)
70.674
18.525
C)
(•)
49.692
59.992
40.551
CI
6.816
1.732
10.819
386,614
92,538
CI
19.243
CI
274265
5,995,566
5,946,006
C)
49313
18204
6,954
CI
CI
C)
9900
12781
8,147
(■)
CI
1264
40.441
21356
CI
f)
17.276
Dividends received Irom loreign corporations, lolaf
Amount quatitying for 85 percent deduction
Intragroup divioends quall^lng lor 100 percent deduction
Other loreign drvidends
51,673
51,673
3,580
3,580
151.891
C)
151.891
57.785
CI
CI
56 579
903.702
CI
CI
902.601
2,868,613
2,868,613
85 603
CI
CI
85 588
CI
C)
64.413
64.413
Constructive taxable income Irom related foreign corporations
Includable income ol Controlled Foreign Corporations
Foreign drvidend income resulting Irom forergn taxes
deemed paid . . -
(•)
CI
1,325.187
C)
337 739
CI
88454
3 176.304
C)
27.967
2.354.115
50.322
427.605
9.051.626
C)
721,730
20 126,662
CI
12566
903 246
C)
C)
154,762
CI
51,008
Net income (less deficit)
1083,581
Statutory special deductions, total'
Dividends received deduction
Deduclion for dividends paid on certain public utility stock
32 239
5,011
20274
1,236
69.986
17.870
133.514
43.632
290.632
99.441
C)
5,866 267
5,054,336
49 748
7 232
16,058
10,229
51,566
19.859
Income subiect to tax-
1,783,735
625.055
611.767
3.538
(•]
9,744
402 331
182,408
182,057
295
CI
CI
3.145.570
1.397.762
1.393.772
2396
CI
CI
2.476.974
1.129.344
1.126.329
2.814
CI
CI
8.887.217
4207.149
4.192.738
13.336
CI
1.073
14,358,692
7,038,220
6,844,473
7641
C)
166,106
952 094
436770
434,214
2550
C)
227104
104755
104427
285
(*)
C)
1,139,619
Income tax lolaH
Normal lax. surtax, and alternatrve tax
Tax from recomputing prior year rnvestment credit
Tax Irom recomputing prior year work incentive (tWIN) c edit
Additional fax tor tax preferences
518,709
511,622
3,143
CI
3,736
Foreign tax credit
37.687
72.285
95
501,700
3,378
9,702
164
166813
137.647
102.983
174
1 152.968
52.548
60.998
159
1.012.624
776.660
276.440
143
3.137.495
4611,646
312,764
C)
1,920,032
56 842
54 674
148
322 550
1,575
3,608
122
99 122
74.758
fnveslment credit* ■
75,194
Work incentive (WIN) credit
91
Normal tax surtax and alternative tax after credits
361,779
Total income tax attei—
Foreign fax credit
fnveslment and worfr incentive (WIN) credits
Foreign tax investment and wort, incentive (WIN) credits
587,368
552,675
514,988
179,030
172,542
169164
1.260 115
1.294.605
1.156.958
1076.796
1.068.187
1.015.639
3.430 489
3.928 566
3 151.906
2,426,574
6,725,425
2,113,779
379 928
381 948
325 106
103180
101,025
99450
443,951
443,424
368,666
Personal Holding Company tax
(•)
-
C)
-
-
-
-
-
CI
Estimated tax paymenls. net tofaf
1973 overpayments cfaimed as a credit
197a estimated lax paymenls
Less Refund of estimated fax payments
431,402
16,629
461,934
47,139
141 405
6,176
144 531
9.301
706.670
17 820
705.539
16693
840.233
35.481
619.091
14.363
2.187.415
49.565
2.201.710
64.070
867215
18,855
865,467
C)
266,000
20 398
276543
30 967
77 447
6046
76,348
4,951
310,024
20,480
329,202
39,575
Credit for tax on speciaf fuels, nonhighxvay gasoline and
lubricating oil
Credit tor tax paid by regulated investment companies
Payments with applications tor lirst extension of filing time
Payments with applications tor second exiension of fifing time
1,218
43,048
25,767
51
12,904
2,891
758
214.456
154.273
131
92,755
34,997
1.026
532.178
396.459
1,876
671,576
612,953
259
36,977
13,869
e
10,948
5 176
1 155
(•)
43,263
22,618
Foolnoles al end ot table See lext lor Explanatron ot Terms' and 'Descnplion ol Ihe Sample and Limilations ol Ihe Data *'
Corporation Returns/ 1974
95
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number cf Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to fax. Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry —
Continued
(All
figures are eslimales basetj on samples— money amounts ate m thousands ol dollarsl
Major industry— Continued
Uanufsclunng — Continued
Hem
Lumber and
wood
products
Furniture
and lixtures
Paper and
allied
products
Printing and
publishing
Chemicals
and allied
products
Petroleum
(including
Integrated)
and coal
products
Rubber and
miscellaneous
plastics,
products
Leather and
leather
products
Stone, clay,
and glass
products
(H)
(191
(201
(21)
(22)
(23)
124)
125)
(26)
Returns With Net tncome Ottier Than
Forms 1120S and tl2()-DISC
Number ol reluins
6.012
3816
2.751
15,176
5.098
760
4.633
1209
5,561
Net income
1.786.322
422413
3.205.577
2.607.017
9177.274
20 162 945
1.001.361
243.096
1 187,394
Statutory special (Jerjuctions, total
Net oiwraling loss cjedudion
Oivirtends receded deduction
Deduciion lor dividends paid on certain public utility stocli
Western Hemisphere Trade Corporation deduction
31.130
26,299
4202
(•)
20.154
19038
1 116
69.925
50 683
17,809
C)
132.105
88,356
42,223
CI
290.020
132.496
98 829
C)
58679
5.865.062
104.562
5.053.131
707 369
49.305
41.646
6 789
CI
15 943
5.816
10,114
CI
50,642
29,888
18 935
CI
Income subiecl to la», total
income taxed at normal tax and surtai rates
Net long-term capital gain laned at alternative lates. lotal
Amount taxed at 25 percent rate
t 781 727
549 009
1232718
|-|
402 331
399 106
3.223
f)
3 145570
2.570.235
575.335
(•)
2 476.974
2360.900
116.074
C)
8887217
8.607.049
280.168
40.943
14358.692
14,125,042
233.650
44,140
952094
935.217
16.877
CI
227.104
224 290
2.814
CI
1.137,797
1,050,664
87,133
1,134
tncome ia< total
Normal lai surlai. and alternaliue tax
Tax tiom recomputing prior year investment credit
Tax Irom recomputing prior year work incentive (WIN) credit
Additional tax lor lax prelerences
623.613
611.165
2.898
(•)
9744
182370
182 057
257
CI
CI
1 397 539
1393.772
2173
fl
1,593
1 129.231
1 126329
2707
C)
C)
4.207 000
4.192.738
13 189
C)
1.073
7037.872
6.844 473
7620
C)
185 779
436718
434.214
2,504
104.636
104 427
166
C)
C)
516,711
511,275
2,503
C)
2,925
428.303
14 157
446 359
34 209
139 680
5 593
141,531
7439
705.272
17644
701.606
13982
836957
34.615
814.875
12.557
2,185,156
49.186
2.197013
61.253
866.850
18.795
849 951
C)
264,063
18748
271927
26,637
76.912
6.017
75.602
4.711
306 868
1973 overpayments claimed as a credit
1974 estimated tax payments
18403
322,736
34,185
Returns Without Net Income Other Ttian
Forms tl20S and lt20-DtSC
Number ol lelurns
4 279
2056
863
9.000
3 070
171
2529
552
2391
Oelicil
505.424
96.117
54.778
301 194
166 440
53 594
109 628
95107
174,768
Statutory special deductions total
Dividends received deduction
Deduction tor dividends paid on certain public utility stoclr
809
809
C)
C)
(•]
CI
1409
1.409
612
612
C)
C)
(■)
CI
115
115
924
924
Income subiecl lo tax'
Income lax total'
Normal lax surlai, and alternative tax
Tax trom recomputing prior yeai investment credit
Tax trom recomputing prior year work incentive (WIN) credil
Addilional lax lor tax prelerences
640
640
38
38
(■]
2M
223
(•)
113
107
CI
149
149
CI
C)
C)
52
46
CI
CI
CI
1,451
640
811
Returns of Small Business Corporations, Form 1120S
Number 01 returns
3,217
1059
151
5095
1.692
C)
947
319
1,611
Nel income
Number ol returns
Amount
Deficit
Incocne subiecl lo corpoialion lax
Income tax
2075
84927
42638
CI
ri
793
12389
C)
136
26.893
CI
2.765
76.371
28,079
927
51255
C)
C)
(■)
(•)
336
21.263
9.750
228
8.346
C)
1,146
78,671
7,716
CI
C)
Footnoles al end ol lable See text for 'Explanation ol Tetms' and Description ol the Sample and Limitations ol the Data
96
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry —
Continued
[All hgures are eslimales based on samples-money amounls are m ihousands ot dollars]
Major industry— Continued
Manolacturing— Continued
Hem
Primary
metal
Industries
Fabricated
metal
products
Machinery,
except
electrical
Electrical
and
electronic
equipment
Motor ve-
hicles and
equipment
Transportallon
equipment.
except motor
vehicles
Instruments
and related
products
Miscellaneous
manulacluring
and manu-
lacluring
not allocable
(27)
(2S)
(29)
(301
(31)
(321
133)
(34)
Number of Returns Wilh Income Tai
Number o1 returns with—
Income tax. total
Form 11205
3,368
14.393
13.853
4.431
1.316
1979
2321
4.93t
Normal lax. sunax. and alternative lax
3.337
14,238
13,435
4.361
1 220
1930
2.295
4.855
Tax Ifom recomputing prior year investment credit total
Returns with net income
693
669
2.425
2,2B1
2.753
2.372
854
787
392
298
437
392
315
292
610
541
Addilional tax tor lax prelerences. total
Returns with net income
Returns wilh normal lax suMax. and allemaliwe tax
12
12
8
CI
C)
I'l
C)
CI
CI
6
5
3
C)
C)
CI
CI
CI
-
3
CI
("1
Normal lax surtax, and alternative tax alter credits
2834
12.649
11.653
4.119
1092
1801
1.989
4486
Total income tax allei—
Foreign lax credit
Inveslmenl and work incentive (WIN) credits
Foreign tax inveslmenl and work incentive (WIN) credits
3368
2.877
2.877
14.384
13.030
13.021
13.847
12.275
12.255
4.426
4.213
4.208
1 315
1.193
1.192
1 979
1888
1888
2.315
2.040
2.034
4.929
4.570
4.568
flelurns With and IWiIhoul Net Income
Number ol returns
4.636
25.327
24 879
10.800
2.203
3.651
5.761
12.677
Dividends received trom domestic corporations, lotal
Amount qualilying lor 85 peicent deduction
Amount on certain public utility slock qualilying lor 60 208 deduction
Inlragroup dividends qualilying lor tOO percent deduction
Inlragroup dividends qualilying lor transitional deduction under section 1564(0)
Amount received Irom a DISC or tormer DISC
167.210
91378
CI
(■)
CI
72637
44 161
14,926
(■)
1,911
2 114
25,191
247.456
25.878
C)
6977
4602
209 968
289.252
81.049
C)
CI
C)
191.547
182.227
22.620
CI
C)
C)
154.327
157 967
^ 7.388
C)
C)
150.402
113.125
7.011
C)
C)
104.584
22.892
7.162
CI
CI
14789
Dividends received Irom loreign corporations, total
Amount qualilying tor 85 percent deduction
Intiagroup dividends qualilying loi 100 perceni deduclion
Other loreign dividends
251 194
251,194
95,625
CI
95,624
733.681
CI
CI
732.148
341.290
341.290
540.769
540.769
13.578
13.578
151 139
151.139
26.734
26.734
Conslruclive taxable income tfom related loreign corfioralions
Includable income ot Controlled Foreign Corporalions
Foreign dividend income resulting trom foreign taxes deemed paid
C)
74,573
5 920
58,122
9362
619.241
23.738
184.877
C)
282.090
C)
9 059
3.524
78.799
C)
16.116
Net income (less delicil)
6 321,206
3,548.209
7.002.863
2.980.293
2.464.294
1.263.014
1.652 635
651 747
Statutory special deductions total
Dividends received deduction
Deduction tor dividends paid on certain public utility slock
697,173
80 808
161.141
16 184
245.520
34873
257.526
85 355
52.711
24.495
146.397
6 475
60.622
7455
63 303
6.945
Income subiect lo lax'
5 680 790
3554.775
7291211
3.371 722
2.799.835
1.285.271
1752.382
774.450
Income lax. lolal-
Normal lax. surtax, and alternalive tax
Tax liom recomputing prior year inveslmenl credil
Tax Irom recompuling prior year work incentive (WIN) credit
Addilional lax lor lax prelerences
2 707 709
2,688333
5 174
C)
14,197
1 629 096
1625610
3.247
C)
CI
3.426.598
3.415.535
10.636
CI
CI
1.568.136
1.551 199
12 373
74
4490
1.292.637
1 285.227
6.907
CI
C)
601.571
597.884
3499
CI
C)
826 935
825 161
1 772
CI
352.071
350 851
770
C)
446
Foreign tax credit
Investment credit-
Work incentive (WIN) credit
Normal tax. surtax, and alternative lax alter credits
371 719
273,407
416
2042791
87.809
92973
507
1 444 321
837 548
174 587
588
2402812
275.627
129.469
616
1.145.487
404.029
114.698
644
765.856
28.615
59.966
727
508.576
126 224
33 105
107
665.725
25,411
19.902
65
305.473
Tolal income lax alter—
Foreign lax credit
Inveslmenl and work incentive (WIN) credits
Foreign lax. inveslmenl. and work incentive (WIN) credits
2 335 990
2,433,886
2062,167
1 541 287
1.535.616
1.447.807
2.589.050
3.251.423
2.413.875
1.292.509
1,438.051
1.162424
888.608
1 177.295
773.266
572.956
540 878
512263
700.711
793.723
667.499
326660
332104
306.693
Personal Holding Company lax
-
C)
-
CI
-
C)
-
C)
Estimated tax payments, net total
1973 overpayments claimed as credit
1974 estimated tax payments
Less Relund ot eslimaled lax payments
863612
46 137
828 031
10,565
925075
46.589
922 028
43.320
1.857,517
53,128
1.893 543
89.083
971.920
51.239
1.023 182
102 499
471 778
40.987
474.230
43.436
353 549
20.485
363.339
30.263
531231
19093
533 230
21.051
240.189
13.613
246.229
19.712
Credit loi lax on special luels. nonhighway gasoline, and lubricating oil
Credit loi tax paid by regulated inveslmenl companies
Payments wilh applications lor Inst extension ot liling time
Payment with applications lor second extension ol tiling time
3,569
C)
610.470
487 646
666
224.877
100.276
1626
C)
298.142
185819
3.240
C)
132.126
92.241
1.137
173.950
119.845
720
108 536
85.114
78
67.206
54.213
113
CI
38.032
13.963
Foolnoies al end ol table See lexl lor Explanation ol Terms" and "Descnplion ol the Sample and Limtialions o! ihe Dala
Corporation Returns/ 1974
97
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry-
Continued
|AH Itgures are eslimates based on samples— money amounts are in thousands ol dollafs)
Uaior induslry— Continued
Manufacturing— Continued
Item
Pnmary
metal
Fabricated
m«lal
products
Machinery,
eicept
el«clric3l
Electrical
and
electronic
w^uipmenl
Motor ve-
hicles ar>d
equipment
Transponallon
equiprtienl.
eicept motor
vehicles
Instruments
and related
products
Miscellaneous
manutaclurlng
and manu-
taclurlng
not allocable
(27)
(28)
(29)
1301
(311
(321
(331
(341
Returns With Net Income Other Than Forms 1120S and 1120-OtSC
Numbei ot returns
3 599
15703
15.241
5801
1456
2 181
2.979
5 581
6377810
3 714 459
7 525 703
2 851 183
51 386
21.703
23.170
CI
1 430.682
145.517
138.626
5 595
Cl
1.812.927
60.551
51.582
7.384
Cl
836.406
63.031
55.305
6.673
Cl
Siaiuiory special deductions, total
Net opeoitng loss deduction
Dividends recerved deduction
Deduction loi dividends paid on certain public utility stock
Western Hemisphere Trade Corporation deduction
697,138
517,307
80.763
99,058
159,819
138.585
14 862
6,372
235.123
189 918
24476
20.729
237.157
163.852
64.986
8.319
Income subject to lax, total
Income taxed at normal ta« and sunai rates
Nel lon^-le<m capital gam laxed at allernative rales, total
Amounl laxed al 25 perceni rale
5 680.790
5,554,960
125.830
36CW
3554.775
3-479.322
75,453
4,693
7291.211
7 170 109
121 102
4.951
3.371 722
3 116 743
254 979
15.728
2 799.835
2505.776
294 059
CI
1.285.271
1.222.802
62469
Cl
1.752.382
1.726.035
26.347
Cl
774.450
762.607
11.843
Cl
Income ta» total
Normal la<, Surlai. and alternative lax
Tax Irom recomputing pr.or year mvestmenl ciedit
Tax Ifom recomputing pdor yeai work incentive (WIN) credil
2,707 529
2688 333
4,994
(•)
1,628-756
1,625.610
2.907
3 425 215
3 415535
9453
; 567 333
1.551.199
11 586
74
CI
963.963
47 592
983 422
67 053
1 290 939
1 265 227
5 484
("1
CI
471523
39288
472 360
40129
601.415
597 884
3.343
Cl
Cl
353 009
20161
361 4t3
28.553
826.850
825161
1.686
Cl
351.%9
350.851
677
4
C)
238.431
13.075
241.300
16.006
Estimated tax payments net total
1973 overpaymenis claimed as credit
862 768
45 787
825.678
e.906
920634
43 608
902 984
25 752
1.854.201
50 949
1 865.970
62.644
530.627
14.348
524 529
8209
Less Refund of esiimated tax paymenls
Returns Without Net Income Other Than Forms I120S artd 1120-0I5C
Number ol felu'ns
614
62.1
5456
3251
555
1087
1.595
4.361
169.277
C)
C)
194.769
272
272
Statutory special deductions. lolal
1322
1,322
10397
10397
20369
20 369
Cl
CI
Cl
Cl
Income subject to lax'
Normal lai. suria.. and alternative ta«
1")
340
1383
603
1698
156
85
102
Tax from recomputing prior year mvesimenl crtdil
Tax from recomputing prior year worti inceolive (VVINI credil
Additional ta" toi lax pre'ereoces
1*1
340
1382
n
CI
787
CI
1.423
CI
CI
156
84
93
'Cl
Returns of Small Business Corporations. Form 1120S
223
3.373
1 748
Net income
Number nl returns
Amount
165
17.401
(•)
2.458
136.733
20.454
3048
117714
22.079
401
36 670
22 821
Cl
CI
Cl
Cl
Cl
Cl
600
20.349
Cl
1061
25.887
15.779
Income la»
-
Pooinolesat endot table See text tor Explanation of Term" and Description of the Sample and Limiiaiions ol the Dala
98
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry —
Continued
[All ligures are eslimales based on samples—money amounls are in Ihousands ol dollar$|
Ma|
3r industry— Continued
TranspoMation and public ulllKies
Wnolesale and retail trade
Item
Tolal trans-
poilalion
and public
utilities
Transpor-
tation
Communi-
cation
Electric,
gas. and
sanitary
services
Total
wtiolesale
and retail
trade
Wtiolesale trade
Total
wholesale
trade
Groceries
and related
products
Mactiinery,
equipment
and supplies
Miscellane-
ous whole-
sale trade
(35)
(36)
(37)
1381
1391
(401
(411
1421
(431
Number ol Herurns With Income Ta»
Number ol telufns with—
Income la«, lotal
Form 11205
35,613
27,353
C)
4.178
C)
4 082
292,069
CI
1 18 336
Cl
10.868
24 927
82,541
Cl
Normal lax, suna«, and altefnative lax
34.714
26,611
4 150
3953
288,614
117,094
10.810
24653
81,631
Tax tfom recompuling pnof year tnveslmeni cieflil, lolal
Returns with nel income
4,743
3,870
3,642
2,919
471
446
630
505
32,492
29,106
16,353
15.152
1.601
1.543
3,893
3,626
10,859
9,983
Additional lax lor tax preferences, lotal
Returns wilh nel income
Returns with normal lax, surtax, and alternative lax
56
45
40
47
40
36
=
9
5
4
45
40
34
33
33
31
2
3
3
3
30
30
28
Normal tax. surtax, and allernalive tax alter credits
26.520
20,363
3,462
2,695
263.802
109.534
9.632
23,538
76,364
Tolal income lax aller—
Foreign tan credit
InveslmenI and work incentive (WIN) credits
Foreign tax. tnveslmerl, and work incentive (WIN) credits
35,609
26.222
2S,20f
27,349
21.846
21.825
4.178
3.523
3.523
4,082
2.853
2.853
292,049
269.868
269,818
118,310
111.987
111,951
10.866
9.943
9939
24.913
23.940
23,925
82,529
76,104
78.087
Relurns With and Without Net Income
Number ol returns
80,232
62 153
9,369
8,710
602,423
214,975
20.870
45,391
148.714
Dividends received from domestic corporations, tolal
Amount qualilying lor 65 percent deduction
Amount on certain public ulilily slock qualifying lor
60 208 deduction
Inlragroup dividends qualifying for 100 perceni deduclion
Inlragroup dividends qualifying for transitional deduction
under section 156J(b)
Amount received from a DISC or former DISC
161,221
156.717
CI
5912
1,922
16,631
94.1C4
86.417
C)
C)
2.646
20,062
15,328
O
n
CI
67 055
54 972
CI
CI
CI
CI
439 769
115,350
206
30,643
41506
252,064
366 600
69,623
96
23,007
25612
248262
10,392
4,752
Cl
Cl
3 595
30 301
8,189
Cl
Cl
Cl
19,173
325.907
56,682
C)
21.088
22,582
225,494
Dividends received from loreiqn corporations, toial
Amount qualifying lor 85 perceni deduction
Inlragroup dividends qualifying lor lOO perceni deduciion
Olher foreign dividends
95.003
(■)
94,223
61.606
CI
61.066
CI
CI
CI
CI
255 614
2014
2.559
251.041
160 495
Cl
Cl
176.569
1,008
Cl
1,008
7,206
Cl
Cl
4.959
172,281
Cl
Cl
170.602
Constructive taxable income from related foreign corporations
Includable income of Controlled Foreign Corporations
Foreign dividend income resulting Irom loreign faxes
deemed paid
10,436
34.716
C)
17,487
CI
CI
Cl
28.520
94.236
18.680
46785
Cl
Cl
Cl
I'l
15.572
42,767
Net income (less deficit)
6.663,870
2,657,392
3 462 587
2563,891
22,573,062
16,294,358
933,287
3,544 702
11,816,369
Statulory special deduclions, lolal*
Dividends received deduction
Deduction lor dividends paid on certain public ulilily slock
753,846
140.999
34,459
568 744
76.215
50,390
13,279
777
134,712
49,505
33,682
963,314
168,672
536,430
108.957
48614
5732
101,089
11.467
386,727
91.758
Income subiecl lo tax'
tO.101,528
3,185.600
3,641 119
3 274,809
19,336,626
11 716.450
877,081
2.123.025
8.716.344
Income tai, total'
Normal tax. surtax, and allernalive tax
Tax from recomputing prior year investment credil
Tax from recomputing prior year work incentive (WIN) credit
Additional lax lor tax preferences - ■ .
4.719,299
4.682,739
29,194
(')
7,351
1.423,965
1,408,234
9.230
(•)
6,498
1,744,040
1,730317
13,711
CI
1 551,294
1,544,188
6,253
853
8,315,540
8,291,703
19,723
31
4.083
5,141,436
5,127,206
10,536
21
3,673
378,391
377.261
1.130
Cl
911,539
907,974
3.313
I'l
246
3.851 506
3.841.971
6.093
IS
3,427
Foreign lax credit •
95,829
1.112.013
406
3.474,491
45.850
360.559
fl5
1.001,710
31 384
466,338
198
1,232 397
18595
285,116
93
1 240,384
388,167
394,788
939
7,507809
285,976
165,599
522
4,675,109
1,087
16.560
55
357559
12,204
32,527
139
863,104
272.665
Invesfmenl credit'
Work incentive (WIN) credit
Normal tax, surtax, and allernalive lax alter credits'
114.512
328
3.454.446
Tolal income lax atler—
Foreign lax credit
InveslmenI and work mcenlive (WIN) Credits
Foreign lax, invesfmenl. and work incentive (WIN) credits
4,623,470
3.606,680
3,511.051
1,378.115
1.063,291
1,017441
1 712,656
1,277,504
1 246,120
1 532 699
1 ,266,085
1,247 490
7,927,373
7,919,613
7,531,646
4,855,460
4,975,315
4,689,339
377 304
359,776
358.689
899,335
878,873
866.669
3.578.821
3.736.666
3.463.981
Personal IHolding Company tax
CI
n
-
-
Cl
Cl
Cl
-
Cl
Eslimaled lax payments, nel loiai
1973 overpaymenls claimed as a credil
1974 eslimaled lax payments
Less Refund ol eslimaled tax payments
2,604.601
124.932
2,553,667
74,176
664,015
30.615
653,353
20,197
1,099,569
46,347
1,055,798
2,540
841,017
47 770
844 536
51,439
4,890,235
232,712
4,896.777
239,016
2,787,564
116,340
2,781,389
110,006
231.110
9,057
227.861
5.859
469.196
20.047
457,699
8.656
2.087.258
87.236
2.095.629
95.491
Credit for lax on special fuels, nonhigfiway gasoime, and
lubricating oil
6,500
4,552
122
1,826
1,986
1,170
63
569
538
Credil lor lax paid by regulated investment companies
Payments wilh applications for first extension ol Nlmg time
Payments wilh applications tor second extension ol liling time
C)
596,457
383 465
n
171 662
117,701
115,939
75,394
308,836
190,370
259
953,762
345,451
1B7
634.005
225.695
42,686
16.334
I'l
133,538
50,225
167
457,761
159,136
Foolnoles at end ol table See text for "Explanalion ol Terms ' and "Description ol Ihe Sample and Li
Illations ol Ihe Data "
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 11— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry-
Continued
99
|AI
tiguies die estimates based on samples— money amounts are in thou
ands ol doNarsj
Major industry— Continued
Transportation and public utilities
Wholesale and retail trade
irem
Total (rans-
portadon
and public
utilities
Transpor-
tation
Communi-
canon
Electric,
gas, and
sanitary
services
Total
wholesale
and retail
trade
Wholesale trade
Total
wholesale
trade
Groceries
and related
products
Machinery,
equipment,
and supplies
Miscellane-
ous whole-
sale trade
(351
(361
137)
1381
1391
(401
mi
l«2|
(431
Returns W.rh Net Income Other Tfian Forms 1120S and t130-DISC
Numtier 01 returns
40478
30,929
4.933
4,616
322.365
127 482
1 1 784
27.672
88,026
Net >ncome
10815909
3,736518
3 690 909
3,366 482
20 286.697
12245,410
925112
2,223,726
5,096,573
Statutory special deductions total
Net operating loss deduction
Dividends received deduction
Deduction (or dividends paid on certain public utility stoc-
Western Hemisptiere Trade Corpoiation deduction
722 692
673096
123,548
20 756
5,292
559,679
489,237
69 150
51] 208
34 938
13.130
744
CI
112 806
48 921
41.268
20.012
CI
953.796
763 893
160.362
29.541
531.766
400.413
105,239
26,115
48.304
41.259
5.563
CI
100,695
84.593
11,345
4.657
382,867
274,561
88,330
19.976
Income sut)|ect to tax, total
Income taxed at normal tax and surtax rates
Net longleim capital dam taxed at alternative rates total
Amount taxed at 25 percent rate
10,099,726
9 710 995
388 731
13031
3183,992
2,907,014
276978
4.057
3.640925
3 624 272
16.653
("1
3 274 909
3 1 79 709
95 too
1 123
19338 321
19087.076
251 245
4.189
11,716,419
11,678,611
137.806
1.326
877.081
871,523
5,558
2 123.026
2,104,169
18,856
CI
8.716.313
8.602,919
113394
1,263
Income tax total
Normal lax. surtax and alternative tax
Tax (rom lecompuling prior year worti incentive IWINl credit
Additional lax lor tax preferences
4 713636
4,662 199
24,963
CI
6659
1 420,005
I 407,752
5.932
CI
6.318
1.743 926
1 730.259
13.655
CI
1 549905
1544,189
5.376
341
9.312.286
9.291.612
16592
31
4.051
5.139.998
5.127.197
9.107
21
3,673
378,319
377.261
1058
C)
911,404
907,974
3178
Cl
Cl
3,850,275
3,841,962
4,871
15
3.427
Estimated lax payments, net lotal
1973 overpayments claimed as credit
1974 eslimaled tax payments
Less Relund ot estimated tax payments
2595,662
121 160
2 516 923
42595
657 087
28 734
644.667
16359
1.099091
46.101
1055,242
CI
939.484
46.325
917.014
24.003
4.835.663
215,724
4.601,491
181 334
2,761.827
109.300
2722.262
69.565
228 463
8249
224 190
4043
466,317
19 284
453,646
6,520
2,067 047
at 767
2,044,416
59,022
Returns WIttiout Net Income Other Than Forms tl20S and lt20-DISC
Number ot reluins
25,217
18,833
3,031
3.353
166,638
44.985
4.481
8188
32.316
Delicit
2 222 215
1,169.313
222,376
830.526
4,314,931
1.821.415
182.040
173,698
1.465,677
Slatuloty special deductions, tolai
Dividends received deduct.or
Deduction lor dividends paid on certain public utility SIOCK
31,154
17,451
13 703
9065
9 065
182
149
C)
21,907
8.237
13.670
6,507
6507
3,716
3,716
169
169
119
119
3.428
3.428
Income subiecl lo tax'
Income tax. total'
Normal tax, surtax and alternative lax
Tax Irom recomputing pnoi year investment credit
Tax Irom recompuling prior year work incentive (WINI credit
Additional tax (or tax pteterences
4,872
4 231
3,427
3.299
CI
56
56
1,389
877
512
3163
3 131
CI
CI
1,429
1,429
CI
72
72
-
135
135
Cl
1,222
1,222
C)
Returns o( Small Business Corporations, Form t120S
Number ot returns
Net income
Number 0( 'elurns
Amount
Dedcil
Income subiect to corporation ta.
Income tax
14 531
6716
201,820
112016
12 388
5 421
168742
80 927
CI
1405
767
19,739
25 686
I'l
738
528
13339
5 404
117,156
74,847
2,208130
495,587
C)
C)
36,314
25.598
1 121.091
132.755
CI
Cl
4 327
3169
120132
14.761
7,854
5,713
269376
25,616
24,133
16716
731,593
92.376
Cl
Cl
100
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry-
Continued
(Ail
(igutes are eslimales baseti on samples— money amounts are m tftousantjs of dollars)
Major industrY— Continued
Wtiolesale and retail trade— Continued
Retail trade
llem
Building
Total retail
trade
garden
supplies.
and mobile
home dealers
General
merchandise
stores
Food stores
Automotive
dealers and
service
stations
Apparel and
accessorY
stores
Furniture
and home
lurnishings
stores
Eating and
dnnhing
places
Miscellane-
ous retail
stores
Wholesale and
retail trade
not allocable
(44)
(45)
(46)
(47)
(48)
(49)
(50)
(51)
(52)
(53)
Number of Returns With Income Tax
Number ot relums wilh—
Income la», lolal
173 675
16.575
6 132
12 071
31 060
20 324
16 754
24 636
46 123
78
Form u?OS
CI
-
-
1")
-
Normal tax surta. and alieinalive ia«
171 442
16 436
5 975
11 964
30 624
20 132
16202
24.279
45.830
(•)
Tan from recompulmg prior year inveslineni
credil. lolal
16.137
1636
464
1 149
3,695
861
1.550
2.348
4 434
C)
Relums vwilh nel income
13.952
1513
311
1 052
3,264
670
1,002
1.998
4 142
C)
Addilional lax lor tax prelerences, total
(")
_
C)
-
C)
_
_
C)
Returns wilh nel income
CI
—
C)
—
(■)
_
_
C)
_
_
Returns with normal lax. surtax, and
alternative lax
3
-
C)
-
-
-
-
C)
-
-
Normal lax surtax and alternative lax atlet credits
154 246
15 549
5 558
10 327
28 029
18 817
14,892
19,355
41 719
C)
Total income tax alter—
Foreign tax credit
173 661
16,575
6,131
12,071
31,059
20 324
16,754
24,636
46 111
C)
Investmenl and work incentive (trVIN) credits
157.859
15,703
5 740
10,446
28,975
19 034
15580
19.957
42 424
(*)
Foreign lax investmenl. and work
incentive iWINl credits
157 845
15.703
5,739
10446
28,974
19,034
15,580
19.957
42412
CI
Returns IMilh and Wilbout Net Income
Number ol returns
386 7-2
31.319
10 996
26,335
63,863
38.529
36,044
76.601
103.085
676
Dividends received tiom domestic corporation, total
73 169
7.967
16,061
8282
8,121
11.494
3,999
6.637
10.608
_
Amount qualitying tor B5 peicent deduction
45 727
3.052
11,632
5845
5,146
2,997
3 656
5 792
7.607
_
Amount on certain public ulHilv slock
qualilying lor 60 208 deduction
C)
C)
—
—
(•)
(•)
CI
_
CI
_
Inlragroop dividends qualilymg lor 100 percent
deduction
7 636
C)
C)
CI
)■)
_
(■)
C)
C)
_
Inlragroup dividends qualilying lor transitional
deduction under section t564(b(
15.894
C)
(■)
C)
2130
C)
C)
C)
C)
_
Amounl received trom a DISC or lormer DISC
3.802
C)
-
C)
C)
C)
C)
)■)
C)
-
Dividends received Irom loreign
corporations, tolal
75.119
(•)
69 200
C)
C)
C)
C)
C)
2635
_
Amount qualilying lor 85 percent deduction
C)
—
-
—
C)
C)
C)
_
Inlragroup dividends qualilying lot tOO percent
deduction
CI
—
C)
C)
—
—
—
_
CI
_
Other loreign dividends
74 472
(•)
68 883
CI
(■)
(•)
ct
C)
2.369
-
Constructive taxable income Irom related loreign
corporations
Includable income ol Conliolled Foreign
Corporations
9 840
—
C)
C)
CI
_
—
C)
C)
_
Foreign dividend income resulting Irom loreign
taxes deemc-d paid
47 451
-
C)
C)
-
C)
C)
C)
(■)
-
Nel income Hess delicti)
6275.298
630.671
1 05) 148
1,041,606
932416
497 334
291,209
587.468
1.243,444
3,406
Slatuiorv special deductions, lolal'
426.884
29.108
34,053
59,251
60,613
45,229
33.464
75.907
89,259
C)
Dividends received deduction
59.915
5.701
14 427
7 089
6 266
10,403
3.151
5.385
7.493
Deduction tot dividends pd'd on certain public
utility stock
-
-
-
-
-
-
-
-
-
-
Income subiecl to tax-
7.620.409
640.237
1,667,033
1,110685
1,129,784
625 209
406 669
694 336
1.346.466
C)
C)
Income tax total*
3.173 347
245,944
779,599
495 205
439 527
250,437
148.090
277217
537.328
Normal tax. surtax, and alternative lax
3.163760
245 439
777,055
493 460
437,356
249,998
147.851
276.049
536.552
C)
Tax Irom leconiputiiig prior year investmenl credit
9 167
502
2,187
1,742
2,147
439
239
1.135
776
C)
Tax Irom recomputing pnor year work
incentive (WIN) credit
10
(•)
—
C)
C)
—
—
C)
C)
_
Additional tax lot tax prelerences
(■)
-
C)
-
(•)
-
-
CI
-
Foreign tax credit
102.191
64
66,21 1
1286
29,082
C)
C)
C)
2.760
_
Investment ciedil-
229 009
10,274
63,875
65 154
17,942
9,215
3.852
30 783
27.914
C)
work incentive (WIN) credit
417
CI
71
111
63
C)
C)
103
14
NortTial lax. surtax, and alternative lax alter credits
2.832 143
235,089
646,698
426,907
390 269
240,603
143.450
243 063
505.864
(■)
Total income la* alter—
Foegn tax ctedil
3071.156
C)
713,388
493 917
C)
250,284
147.557
275 117
534.568
C)
Investment and work incentive (WIN) credits
2 943 921
235 658
715,653
429 940
421 522
241 195
144.222
245 331
509.400
(•)
Foreign tax. investment, and work incentive
(WIN) credits
2.841 730
235 594
649442
426 652
392,440
241042
143.689
244,231
506640
(•)
Personal Holding Corrpany tax
C)
-
'
-
CI
-
-
'-
C)
-
Estimated lax payinenis net total
2101876
1S0B77
506725
316314
309,171
174567
106439
170 801
336.982
C)
1973 overpaymenls claimed as credit
116.272
8,750
24,007
13 234
27177
8,319
7 260
9,035
18.490
C)
1974 estimated tax payments
2 114.691
182,901
537 525
323 102
295,998
172,000
105 656
167,279
330.230
C)
Less Relund of estimated lax payments
129010
10,762
54,913
19,973
13910
5,821
6 526
5.465
11.640
Credit lor lax on special fuels, nonhigbway
gasoline, and lubncating oil
816
163
96
243
194
Ct
C)
23
93
_
Gredil tor tax paid by regotalcd investmenl
companies
C)
C)
CI
Payments witti applications lot titst extension
01 lilinq time
319 753
13875
89,801
52,909
33 940
23874
13.418
37.509
54,427
(■)
Payments with applications lor second extension
ol tiling time
119.756
1.388
40,209
22,451
9.862
8,686
5.539
15.845
15.756
~
Footnores at end ot table See text lor EKplanalion ot Terms" and DGscnplion o( the Sample and Limitations ot the Data '
Corporation Returns/1974
101
RETURNS OF ACTIVE CORPORATIONS
Table 11— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry-
Continued
(All
figures are estimates based on samples— money amounts are in tfiousands of dollaisl
Major industry— Continued
Wholesale and retail trade— Continued
Retail trade
Item
Building
Total retail
trade
malerials.
garden
supplies,
and mobile
home dealers
General
merctiandise
stores
Food stores
Automotive
dealers and
service
stations
Apparel and
accessory
stores
Furniture
and home
furnishings
stores
Eating and
dnnhing
places
Miscellane-
ous retail
stores
Wholesale and
retail trade
not allocable
|M|
(451
1461
(«7|
1481
(491
(SOI
(511
(521
(531
Relums With Net Income Other Than
Fonns 1t20S and tt?0-DISC
Number Ol returns
1 94 679
17 852
6 424
13 505
34.355
21 905
18 460
29 907
52.251
204
Net income
8 039 719
669 077
1 700 309
1 169.830
1 188 063
669 840
439.851
768.166
1.434.583
1.768
Statutory special dertuclions total
Net operating loss deduction
Dividends received deduction
utility stoctr
Western Hemispfiere Trade Corporation deduction
422.030
363,460
55.124
1*1
26.784
23.407
5.377
33448
16619
13.822
CI
59.008
52.162
6.846
58.538
53 130
4191
CI
44.813
34 826
9.987
33.133
30313
2820
75469
70.522
4 947
88.937
60.501
7.134
I'l
CI
CI
Income subiect to tax. total
Income taxed at normal lax and surtax rales
Net long-term capital gam taxed at
alleinalive tales, total
Amount taxed at 25 percent rate
7 620 136
7 506 698
113 437
2.663
640 237
626 787
13450
f)
1 667.033
1.635.453
31.580
C>
1 110411
1096 073
14338
fl
1 129.784
1.117.261
12523
C)
625.209
618.988
6.221
CI
406 669
403 904
2.765
CI
694.336
676.586
1 7.750
C)
1.346.456
1331.646
14.810
CI
Ci
CI
Income tax. total
Normal lax surtax, and alternative tax. total
Tax Itom recomputing piior year inveslmeni credit
Tax liom lecompuling prioi year worh incentive
(WIN) ciedil
Additional tax loi tax preferences
3171531
3 163.679
7.465
10
378
245.897
245 439
455
CI
779.154
777.055
1.758
CI
494.823
493.378
1.442
CI
439.213
437.356
1.833
CI
CI
250 366
249.998
368
147 997
147.851
146
276781
276049
715
CI
CI
537 300
536 552
748
CI
757
CI
CI
Estimated tax payments, net total
1973 overpayments claimed as credit
1974 estimated tax payments
Less Refund of estimated lax payments
2.073.041
106.324
2 076 542
in 749
177.817
7.730
177 270
7 144
504.268
23.248
534.600
53.685
315300
12.682
320 993
18326
299 300
23828
283 853
6277
171065
6.902
168 395
4.325
104.090
6.213
103.350
5 527
168.193
7.757
165 068
4 585
333.008
17.964
325.013
9880
CI
CI
CI
Relums Wtttioul Net Income Oltter Than Forms
11205 and 1120DISC
Number ol returns
111527
6 928
3087
6 289
18.345
8429
10 799
28 501
29 149
CI
Deficit
2 493 390
153.834
664.971
182.859
346.147
221 396
190 170
335.687
398.326
CI
Statutory speoal deductions total
Dividends received deduction
Deduction lor dividends paid on certain public
utility stoch
4 791
4 791
324
324
605
605
243
243
2.075
2.075
416
416
331
331
438
438
359
359
-
Income subiecl to lax
Income tax total
Normal tax surtax, and alternative lax
1.734
47
445
300
314
71
93
436
28
-
Tax liom recomputing prior year inveslment credit
Tax from recomputing pnor year xvorlr incentwe
IWINI credit
Additional lax for tax prelerences
1702
CI
47
429
C)
300
314
71
93
420
CI
28
~
Returns ol Small Business Corporations. Form 11205
Number ol returns
Net income
80.505
6521
1485
6.538
11 154
8.189
6759
18.193
21.666
ri
Number of returns
Amount
Deticit
Income subiect to corporation lax
Income tax
49.162
10B6.299
362 518
4039
145324
30 217
939
28 172
12 362
3.640
88.941
34517
CI
CI
7270
171.481
81 143
5.467
77.307
28 783
3.625
79.056
37 684
10947
242.078
87 089
13 235
253.940
50 723
(•)
(•)
("1
Footnotes at end of table See text lor Explanation of Term
s' and Descnptio
Ol the Sample anc
Lirnilations of the
Data
102
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions. Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 11 208), by Major Industry-
Continued
|AII tigi
lures are esli
males based on samples— money amounls are in Ihousands ol dollafS|
Major industry— Continued
Finance, insurance, and real estate
Item
Total
finance,
insurance,
and real
estate
Banking
Credit
agencies
other than
t)anhs
Security,
commodity
brokers and
services
Insurance
Insurance
agenls.
brokers, and
service
Real
estate
Holding
and other
inveslmenl
companies,
eicept tjank
holding
companies
(54)
(55)
(56)
(57)
|5»1
159)
(601
1611
Number of Returns Wllh Income Tax
Number Ot relutn? Wllh—
Income lax lolal
193 279
11.803
22,983
(*)
1.494
4427
17 264
115 507
19.801
Form 1120S
I'l
Notmal tax suriax, and alletnalive lax
190.730
11 401
22.517
,.476
4318
17 063
114 378
19.577
Tax IfOm fficompuling prior year inveslmenl credit, total
Returns wilfi net income
8.833
6.800
1.864
1,594
1.552
1,118
103
87
423
354
98!
BOO
3 474
2532
436
315
Adddional lax lor lax prelerenres, total
Relurns wilti nel income
Relufns Wllh normal ta« surlai and allcmative lax
3,371
3,113
3.015
608
497
462
2.301
2 273
2.269
(■)
C)
CI
C)
CI
C)
CI
410
326
247
41
38
29
Normal lax. surtan, and altftrnaiive tax alter credits
183,010
10,687
22,056
1,452
4,009
15 167
110 261
19.176
Total income tax aller—
Foreiqn lax credit •
193,059
186.528
186,278
11,602
11 404
11,402
22,855
?2.697
22,569
1.468
1,477
1.471
4424
4.151
4124
1 7 264
15,610
15,610
115,483
111,704
111,676
19 743
Inweslmeni and work incentive (WIN) credtis
Foreign lax, investmeni, and work incentive (WIN) credils
19485
19,426
Returns With and Without Nel Ificome
Number ol relurns
-125,249
14,534
48,597
4 867
8.343
35387
266,616
46,905
Dividends received (rom domestic corporations, total
Amount quatilymg 'or 85 percent deduction
Amounl on certain public utiMy stock qualilymg lor 60 209 deduction
intragroup dividends qualilymg lor 100 percent deduction
inlragroup dividends qualilymg (or transitional deduction under section 156a(bl
Amounl received (rom a DISC or former DISC
4.528,863
3.847,621
16,436
652,897
6,365
3,544
281.946
254.421
1,242
25,631
650
(•)
68 458
22 691
(*)
44,500
604
(')
66.899
23.970
(■)
1')
I'l
2,049.418
1621,276
12407
414,831
I'l
C)
20.741
12.286
!■)
C)
CI
100 341
80 078
367
17714
1 900
C)
1.941,060
1.832.899
2,201
99.113
4,454
CI
Dividends received (rom (oreiqn corporations, total
Amounl qualifying (or 85 percent deduction
Intragroup dividends qualilymg lot 100 percent deduction
Other loreign dividends
202.031
6,363
2 386
193.282
52.736
CI
(■)
61.881
13,623
(*)
13 425
2.446
(■)
2446
26 522
4,555
CI
21,047
CI
CI
CI
2 976
CI
CI
2 855
68973
1 700
CI
86,873
Construclive taxable income trom related loreign corporations
Includable income ot ConlroHed Foreign Corporalions
Foreign dividend income resullmq trom foreign laxes d°emed paid
20,146
58,157
(■)
18,568
(■)
(■)
(■)
CI
CI
CI
CI
CI
C)
CI
19,220
Net income (less dedcii)
11,504 156
2 834.767
1,207,268
126 752
3,676996
375332
207 111
3075 930
Statutory special deductions, total'
Dividends received deduction
Deduction lor dividends paid on cerlam public utility stock
3.217.757
2417961
303.758
212,107
139.349
63,330
87218
63.052
1,568,427
1.426497
48 938
18,627
437,527
86 084
632,540
548 284
Income subject lo tax-
12 594,288
3.403.262
1,745 246
267,206
4325209
382,595
1916051
554,719
Income tax, total'
Normal lax, surlax, and allernative tax , . . .
Tax from recomputing prior year investment credit
Tax Irom recomputing piior year work incentive (WIN) credit
Additional tax lor lax preterences . . .
5.570.370
5.496,188
12.120
23
62,039
1,578,659
1.548,111
5,106
3
25.439
801,604
767,447
1,412
(■)
32,733
122.067
121,892
175
CI
2,056,474
2053,290
3141
CI
CI
148.733
146,519
205
CI
657,182
652.611
1415
CI
3 152
205.651
204.318
666
667
Foreign lax credit ■
702,783
161,083
295
4.632.027
520,970
94.390
134
932,617
26,045
17,073
12
724.317
1,833
3,220
CI
116,837
113,910
23 758
109
1,915,513
5 264
268-
Cl
140,562
1,496
16,803
CI
634,280
33 265
Investmeni credit' ■
3,152
Work incentive (WIN) credit
Normal la< surtax, and alternative lax after credits
CI
167,901
Total income lax atter-
Foreign lax credit
Inveslmenl and work incentive (WIN) credits
Foreign lax, inveslmenl, and work incentive (WIN) cfedils
4,867,587
5,408,992
4,706,209
1,057.689
1.484,135
963 165
775,559
784.519
756,474
120,234
118 845
117012
1,942 564
2032 607
1 918,697
143 469
146,040
140 776
655686
640 347
636 B51
172,386
202.499
169,234
Personal Holding Company lax
1,585
(■)
V)
-
-
-
CI
1,242
Esiimaled tax payments net total
1973 overpayments claimed as credjl
1974 estimated lax payments
Less Relund ol estimated lax payments
3.800,980
171.325
3.855 404
226.131
612,808
55,819
631,070
74,095
660,431
26.650
672,505
40 678
64499
2,794
66.625
5123
1,633 556
36429
1684,591
87,584
106 065
4 248
103,305
1658
417 572
35 643
393 929
12 261
106,029
7,542
103.179
4732
Credil lor lax on special luels, nonhighway gasoline, and lubricating oil
Credit for lax paid by regulated inveslmenl companies
Paymenis with applications lor lirsl extension ol tiling time
Payments with applications (or second extension ol liling lime
1,117
763
405,961
190,345
60
230
72,694
40.462
587
(*)
57,954
16.999
CI
21,759
13 080
89
454
173,513
99.592
C)
CI
11 170
5.207
284
CI
49,370
12,038
10
CI
19,501
2.967
raymenib Wim d|J|JII'-ClllUlia HJI aCVUl'U C'lCHBlUli ur Tn.riy iiiiii; ■- --
Footnotes at end ot table See lexl lor ■Explanation ol Terms and Descnplion ot the Sample and Limitations ot the Data
Corporation Returns/1974
103
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry —
Continued
[All figures are eslimales based on samples— money amounts are in thousands ot dollafs]
Major Inrjustry— Continued
Finance, insurance, and real estate
Total
finance.
Insurance,
and real
estate
Credit
agerKies
ottier tttan
l>anl(s
Security,
commodity
iKotiers and
services
insurance
agents.
Holding
and other
Investment
companies,
eicepi banti
hoiding
companies
Returns twith Net Income Other Than Forms t120S and 1120-DtSC
Number of returns
Net income
Siatutoiv special deductions total
Net operating loss deduction
Dividends received deduction
Deduction tor dividends paid on certain public utility stocli
Western Hemisphere Trade Corporation deduction
Income subiecl to ta» total
Income laied al normal taa and surtai rates
Net long term capital gam taxed at alternative rates, total
Amount taved at 25 percent rate
Income ta» total
Normal tai, sunai and alternative taa
Tax trom recomputing prior year investment credit
Tax Irom recomputing prior year worii incentive fWIN) credit
Additional tax lor tax preterences
Estimated lax payments nel total
1973 overpayments claimed as a credit
1 97a estimated tax payments
Less Refund of estimated lax payments
Returns Without Net Income Other Than Forms t120S and t1?l)-0tSC
Number 01 returns
Statutory special deductions, total
Dividends received deduction
Deduction for dividends paid on certain public utitity stock
income subject to tax*
Income tax, total-
Normal tax surtax and aliernalive tax
Tax from recomputing prior year investment credit
Tax Irom recomputing prior year work incentive tlWIN) credit
Additional tax for lax preferences
Returns of Smalt Business Corporations, Form t120S
Number of returns
Net income
Number ol returns
Amount
Deficit
income subject to corporation tax
income tax
J68t,?06
797 ?99
t88t,it30
(■)
12 583 896
12,020,278
563618
25.733
5560,313
5,a92,695
9,562
2t
58.035
3 757 380
153,293
IJBi t05
160 383
156,683
6071062
2.539
7.702
1.136
2.558
n
4,004
19 934
386 930
256 627
11,917
3,628,291
260,784
89,254
169,133
{•1
3 402 114
3 304653
97,461
5619
1 674 020
1547,605
3,879
2
22.534
795.519
47.404
794.831
46 722
2,504
796,079
CI
4.639
CI
1.227
CI
2.905
127.419
76.002
51,400
n
1 73891
1673 200
65,718
3.906
798 708
765549
1.102
CI
32.046
653.696
26.691
658.045
31.005
20060
668,621
1461
27,853
9,437
1842
336 162
77,697
24,166
53,531
267 206
256436
10770
121,938
121 892
CI
63,594
2,442
65907
2,433
213,405
9 521
9,521
5124
5243 122
1,129 385
141930
987 455
4323,824
4,272215
51,609
CI
2,055 288
2.052666
2.597
n
CI
1.628.762
34.767
1659.367
65.471
1948
1,576,331
439,042
439,042
1.385
1 186
837
10,457
45,690
30 311
15 379
382,595
376,807
CI
104,976
3778
102,377
CI
10.575
115136
4,028
74465
11 429
426,302
351 380
73.859
CI
1.916.051
1.727,710
168,341
12,744
656 592
652 61 1
1,167
CI
2790
406.889
30 917
383,665
7 739
104,278
2135595
12.225
12.225
11 294
219 226
206 329
1611
26 553
3.622 626
614.929
84.256
530.673
553.186
409.257
143.931
3.376
205067
203 853
635
103.924
7,294
99,913
3,323
16,865
563695
17.611
17.611
Footnotes at end of table See text lor Explanation of Terms" and Description of Ihe Sample and Limitations ol the Data
104
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry-
Continued
[All figures are estimates based on samples— money arriQunls are in thousands ol dollars
Maior inrjuslry— Continued
Services
ftem
Tolal
services
Hotels
and other
lodging
places
Personal
services
Business
services
Auto repair:
miscellaneous
repair
services
Amusement
and
recreation
services
Oilier
services
Nature ol
business
not allocable
(62)
(63)
(641
1651
(661
167)
(681
(69)
Number ot Returns With Income Tax
Number of relurns wilfi—
Income lax lolal
Form 1120S
159.464
I")
5.606
13 888
36,609
CI
21,134
13 072
6e 155
1416
Normal lax. surtaji. and alternative lax
156.870
5.412
13,530
35,819
20.688
12,960
68 461
1.388
Tax from recompuling pnof year inveslment credil, lolai
Relurns wilh nei income
13.743
11.335
431
258
1.357
1,003
4,544
3.767
2.053
1,612
984
876
4,374
3819
CI
CI
Additional tax (or la« preferences, lolal
Relurns with ner income
Returns with normat lax. surlaii. and aiternalive tax
59
33
28
26
CI
CI
("1
CI
CI
CI
2
5
4
(■)
14
CI
CI
-
Normal lax surlax, and allernalive tax aller cecJils
129.334
4.613
11 126
28 966
17,579
11 065
55 985
1.260
Totai income tax alter—
Foreign tax credit
Investment and work incentive (WIN) credits
Foreign lax, mvestmenl, and work incentive (WIN) credits
159,442
134.340
134,158
5.606
4,83t
4,831
13,888
11 585
1 1 ,585
36,587
30 533
30,511
21 134
18,510
18,510
13.072
11.511
11,411
69,155
57,370
57,310
1 416
1,288
1,288
Returns With and Without Net Income
Number ol returns
388,832
18,236
38,272
106,484
49,122
35,112
141,606
2,842
Dividends received from domestic corporations, total
Amount qualifying tor 65 percent deduction
Amount on cerlam public utility stock qualilymg for 60 208 deduction
Inlragroup dividends qualilymg lor lOO percent deduction
Intragroup dividends qualilymg lor transitional deduction under section 156'i(b)
Amount received Irom a OiSC or former DISC
127,260
83.994
(■)
23,732
10,524
8.761
15,952
15,653
(•)
(■}
4,752
2,776
CI
CI
61.604
30,204
CI
CI
7,650
1,113
4,142
4,130
CI
28.253
20,482
C)
CI
CI
CI
12.557
10 547
CI
CI
1,443
CI
CI
Dividends received irom loreign corporations total
Amount qualiNing lor 85 percent deduction
Intragroup dividends qualilymg for 100 percent deduction
Other loreign dividends
63,217
(•)
("1
62.012
C)
CI
CI
CI
CI
22,648
CI
22,641
CI
CI
CI
34,519
CI
33,562
1,232
CI
1,016
CI
CI
Constructive taxable income from related foreign corporations
Includable income of Controlled Foreign Corporations
Foreign dividend income resulting from foreign taxes deemed paid
6,672
28.640
z
D
3,742
16,541
-
C)
C)
C)
CI
CI
Net income (less delicil)
2.500 teo
— W2.0&4
319 093
803,908
294,439
486,761
698 043
29,599
Slatulory special deductions, total'
Dividends received deduction
Deduction lor dividends paid on certain public utility slock
619.490
104.540
49d37
13 32e.
27,687
4,061
245,264
54972
54,698
3534
91,660
19,520
150,744
9127
3,672
CI
Income subject to lax' ^. .
3,652,166
?08,949
327 889
1,144,916
361,144
717 707
891 561
25,518
Income tan. total'
Normal tax. surtax, and alternative tax
Tax Irom recomputing pnor yeai mvestmenl credit
Tax liom recomputing pnor year work incentive (WIN) credit
Additional tax for lax preferences
1.431,617
1,419876
10.213
(•)
1.524
65.287
B4.126
344
n
517
127 935
127,403
528
CI
470,812
466,458
4 273
CI
CI
132,257
129,003
3,250
CI
308,309
306,919
709
681
307,017
305,667
1,109
CI
241
9,462
9 460
CI
Foreign tax credit - -.
67.961
161,092
575
1,190,246
9,126
I')
74287
1,951
10,929
149
114 374
21,683
47,273
189
397,313
CI
22.496
CI
106,186
40,052
44,690
222,177
3059
26,578
119
275,911
C)
522
8,739
Investment credit" .,....,,
Work incentive (WIN} credit
Normal tax, surtax, and alternative tax alter credits
Tolal income lax after-
Foreign tax credit
Investment and work incentive (WIN) ciedits
Foreign tax. inveslment, and work incentive (WIN) credits
1,363,656
1 .269.950
1 201 ,989
84,277
76t58
75,148
125,984
116 857
114,906
449 129
423 350
401,667
132,051
109,646
109,440
268,257
263 619
223,567
303,958
280 320
277,261
9,263
8,940
8,741
Personal Holding Company tax
(■)
(")
CI
CI
-
C)
-
-
Estimated lax payments, net lolal
1973 overpayments claimed as credit
l97n estimated lax payments
Less Relund ol estimated tax payments
806.386
65,954
768,866
28,566
66 705
8,120
61,067
2,458
86,355
6,036
80,397
CI
294,775
24,853
283,665
13,773
69,659
5,525
67,907
3.660
139,595
8,203
133,066
1.802
149,297
'3,217
142784
6,833
4,906
CI
4,618
C)
Credit tor lax on special luels, nonhighway gasoline, and lubricating oil
Credit lor lax paid by regulated mvestmenl companies
Payments with applications lor first extension of dlmg time
Payments with applications lor second exiension of liling time
802
(•)
150,567
69.863
36
n
6,084
6,332
CI
10,830
5,674
134
48,477
16107
391
9,510
3,071
137
CI
35.366
22 001
89
CI
40,300
16,678
CI
990
CI
Footnotes at end ol lable See lext lor "Explanation o( Terms' and Description of ihe Sample and Limitations of ihe Data
Corporation Returns/ 1974
105
RETURNS OF ACTIVE CORPORATIONS
Table 11.— Tax Items: Number of Returns by Selected Types of Tax, Net Income or Deficit, Statutory Special Deductions, Income
Subject to Tax, Income Tax, Credits, Payments, and Dividend Items, Small Business Corporations (Form 1120S), by Major Industry-
Continued
lAII liqures are estimates based on samples— money amounls are in ttiousands ot doHafs)
Maior industrv— Continued
Services
Item
Total
services
Hotels
and ottier
lodging
places
Personal
services
Business
services
Auto repair
miscellaneous
repair
services
and
recreation
services
Omer
services
business
not allocable
(621
1631
164)
(651
(661
(671
(681
(691
Returns Vtnti Net Income Other Than Forms 112ns and 1120-DiSC
76.555
1.038.959
1.542
29.190
Net income
4 2M 466
249,456
355.245
1382.651
416.004
808151
Statutory specai deductions total
Net operalinq loss deduction
Dividends received deduction
Deduclion to' dividends paid on certain put)lic ulility stock
Weslern Hemisptiere Trade Coiporation deduction
601 197
S14 lt)5
66.247
41465
35 976
5 354
f)
27.316
23.626
3 690
239-875
190.225
49 583
f)
53.956
51.163
2792
fl
90 193
71 549
18053
fl
148 392
141 617
6.775
3.672
fl
fl
income subiect to tai total
Income taxed at normal la» and soda* rates
Net longTerm capital gam taxed at alternative lates lotai
Amount laxed at 25 percent rale
3,651.314
3 562.245
69 069
6079
206.949
197.225
11.724
fl
327.889
321990
5 999
1.144.064
1.122 728
21336
fl
361.144
354.071
7.073
fl
717 707
687637
29.870
I.4t6
891.561
878.394
13.167
fl
25.516
24.740
fl
1 428.901
1.419.647
8.107
(■)
1.143
65.011
84.426
231
O
{•)
127.975
127.403
472
469.931
466.229
3.647
fl
fl
131.465
129-003
2 458
fl
308.216
306.919
617
680
306.403
305.667
662
fl
fl
9.462
9460
fl
Normal tax, surtax and alternative lax
Tax Irom recomputing prior year investment credit
Tax from recomputing prior year work incentive (WIN) aedil .
Additional tax toi lax preleiences
Estimated lax payments net tolal
1973 overpayments claimed as credit
1974 estimated lax payments
Less Helund of estimated la> payments
787 387
56 416
744,678
13771
65.1S3
7.671
58.542
fl
85.24?
5419
79.909
f)
289.640
19 383
276.427
6.207
66858
5046
63.032
fl
136.856
7897
130.600
1 711
143.603
11.000
136.168
3.698
4.132
fl
3.888
Returns tttillloul Net Income Otner Than Forms 1120S and 112(VOI5C
Number ot returns
133,737
5.905
11.351
40 164
13.590
13.888
48,819
627
335.803
1.467
1.467
514.171
2.352
2.352
15.246
fl
fl
16^90
18.290
7.972
7.972
fl
fl
5386
5.366
fl
fl
Income subtect to lax-'
Income lax, total'
Normal lax. surtax and alternative tax
Tax tiom recomputing prior year investment credit
Tax trom recomputing pnor year worli incentive (tWIN) credit
Additional tax tor lax preterence
2 487
2,106
fl
3SI
276
111
fl
60
fl
fl
652
626
fl
fl
792
792
93
92
fl
614
427
fl
CI
fl
Returns ot Small Business Corporations. Form 1120S
Numt)er ot returns
Net income
Number ot returns
Amount
Delicit
Income subject to coiporalion tax
Income tax
71,381
37,810
692,300
425,758
f)
fl
5610
2 532
62 995
109 502
10.368
5.631
77 574
24 909
20.678
10763
167 040
100.496
fl
f)
11.908
6.559
72-143
26.710
6 640
2825
1 16.505
122.670
16.157
9500
t%.043
41.471
fl
fl
fl
I'l Eslirr^ate IS nol shown separalely because ol the small number ol sample reiufns on which il was based However Ihe iJata are in the appropriate lolals
■Includes nei operaimg loss deduction and Weslern Hemispheie Trade Corporation deduction which are shown separately ur>def Returns With Net Income Olher Than Forms 1 l20Sand 1 120 DISC
'The lollowing amounts were reported on returns without net income by 25 life insurance companies and banks wilh life insurance departments taxable under special provision ol the Internal Revenue Code Income subject to tax.
$2,539,000 Tolal income lax, SI. 138.000 Investment credit, SI J7.000
NOTE. Credits include foreign lax. investment and work incentive (WIN) credits See text lor Explanation ol Terms ' and Description o( the Sample and Limitations of Ihe Data
106
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS OTHER THAN FORMS 1120S AND 1120-DISC
Table 12.— Income Subject to Tax: Number of Returns, Net Long-Term Capital Gain, Net Income, Income Subject to Tax, Income Tax,
Foreign Tax, Investment, and Work Incentive (WIN) Credits, by Size of Income Taxed at Normal Tax and Surtax Rates, or Size of
Deficit
[All liqures are-
eslimales based
on samples— money amounts are in thousands
1 dollars]
Number ol
returns
Net long-term
capital gain
reduced by
net short-
term capital
loss
Long-term
capital
gain Irom
certain
binding
contracts
and install-
Net income
or deficit
Income sub)ecl 1o tax
Income tax
Income and lax status and size
Total
Income taxed
at normal
lax and sur-
tax rales
Total
Normal tax,
surtax, and
allernalive
tax
Tax from recomputing pnor
year investment credit
ol income taied at normal lax
and surtax rates, or size ol deficit
Number of
returns
Amount
ment sales
(1)
(2)
(31
H)
(51
16)
(7)
(8)
(9)
(101
Total returns of active corporations, other man
forms 1120S and 1120-DISC
1,626,334
1,008,367
7,740,064
6,934,351
231,110
231.006
137,506,774
160,552,880
143,967,362
143,964,823
138,745,240
131,742.701
66,108,421
66,072.858
65,562,120
65,580,982
96,387
81,343
179,121
Returns wttti net income, total
156,256
Wim noimal ta< surla» and allernalive lax. lolal
871 5.55
5 891 050
230 640
152 346 625
143 964 823
138 742 701
66 033 327
65 580 982
60 301
•54 360
With income taxed at normal lax and surtax rales.
lolal
870 725
322,679
4 486 952
108,253
224 630
'50 956 979
769 669
142,563,065
560,676
138,742 701
522,356
65,599,027
118,249
65 160 708
115,960
80 140
9,715
152,024
Under S5,000
2,051
S5.000 under SIOOOO
123 068
103,991
(■)
1053 159
881,018
837,536
204,770
202,659
6,662
1,564
SIO.OOO under S15,000
78060
88,264
(•)
1 048,665
953,266
921,247
222,645
221 570
5929
894
S15.000 under 520,000
57,999
80,913
CI
1068 175
1,006 923
961,964
241,257
239,928
5.504
1.147
520,000 under 525,000
56,662
76,214
1 052
1,408 167
1 324,156
1 296 996
316 925
314,439
6 350
2,331
525.000
12195
1 7,683
C)
327,073
311,229
304 875
72748
71 752
1.160
875
526000 under 530,000
25,966
50 966
C)
763 751
741,222
710,459
194 834
193318
2942
938
530,000 under 535,000
22373
56,179
644
802,657
762,615
715,331
222,738
221,197
3.029
1,196
535,000 under 540,000
16296
34 644
C)
663,267
626,256
602,551
201,008
199,443
2.259
894
540,000 under 545,000
14432
29 661
CI
656,094
620,346
604,224
206,108
204,964
2 107
704
545,000 under 550,000
11,537
26762
CI
564 779
558,037
541,794
190 866
189,534
1 793
920
550,000 under 560,000
17 307
40,460
712
1 015 141
964,533
938,553
348,408
346,130
3.035
1,336
560,000 under 570,000
12,691
40,648
414
899,022
856,706
631,532
326,949
325,398
2,135
989
570,000 under 560,000
10574
36,293
1,585
846359
806,829
763,691
317,704
316,312
2,199
976
560,000 under 590,000
8,488
46,808
762
794,995
755 926
715,048
305,443
303,619
1.866
788
590,000 undci 5100,000
7035
17,252
213
703,693
677,015
663,894
279457
278,405
1394
537
5100,000 under 5150,000
20,728
83,118
3,236
2680,856
2,586,011
2,528,865
1,109,625
1,103,757
4,809
3,402
5150,000 under 5200,000
11,954
67,633
1 299
2 177,368
2,096 996
2,055,954
930140
924,932
2,924
2,308
S200000 under 5250 000
7,614
46 581
2,156
1 780753
1 733,165
1,695,671
761,219
777,459
2,095
1,477
5250,000 under 5500,000
15,162
185,216
4,879
5,616,901
5,410419
5,278 118
2494,226
2,478,703
4,744
6,545
5500,000 under 51 000000
7,629
148 647
1,516
5 655 310
5 381019
5274 571
2532 647
2516764
2,960
5,297
51,000,000 under 55,000,000
6,103
531 708
49,066
13321056
12,696 147
12,261471
6,015162
5977,613
3,056
14,105
55,000,000 under 510 000 000
803
347 441
4,356
6,235 842
5,942,769
5 595,334
2 801,698
2,784,632
556
7,945
510,000,000 under 525,000,000
599
387 153
9414
10,211,492
9,774,896
9367810
4649,749
4,618,087
446
11,007
525,000,000 under 550000,000
251
295,488
20 360
9,136,993
8,921,504
8,626,016
4246,445
4,226,534
215
13,969
550 000,000 under 5100,000,000
120
660 471
10 751
9,532,668
9,065616
8,405,145
4,269,372
4,231,262
111
16,599
$100,000,000 01 more
138
860 085
93 197
71 161034
66,541 760
65 661 675
31998,415
31 776097
125
51,230
Without income taxed at normal tax and surtax rales
but with alternative lax on long-term capital gain'
800
1 402 098
6 020
1,369 646
1401,756
-
434 300
420,274
161
2,336
Without normal lax surtax, and alternative lax lolal
136 842
1043 301
CI
8,206 255
_
-
39,531
_
1,042
1,896
With additional lax tor lax preierences
264
173 450
—
2 242 399
-
~
37 837
—
30
211
Wilh only lax Irom recomputing prior vear inveslmeni
cedit
1,011
64 502
CI
430,718
—
—
1685
—
1,011
1 685
With only tax Irom recomputing prior year work
incentive (WIN) credit
D
—
-
CI
-
-
CI
-
-
—
With lax trom recomputing prior year inwestmenl and
work incentive (WIN) ciedils
(■)
—
-
CI
—
—
C)
—
CI
C)
Nontaxable
135535
605,349
^
5,527,689
-
-
-
-
-
-
fleturns without net Income, total
617.967
805,713
(•)
-23.046.106
2.539
2,539
35,563
1,138
15.044
22.865
With normal lax surtax, and alternative tax
25
fl
_
-49290
2,539
2539
1,138
1,138
_
-
Without normal lax, surtax, and alternative lax-
Wiiri additional tax tor lax preierences
419
41,016
C)
-586,915
-
13 629
—
96
2,276
With only tax Irom recomputing prior year investment
credit
14,944
220 842
C)
-4225,749
—
—
20,581
—
14,944
20 581
With only lax Irom recomputing prior year work
incentive (WIN) credit
39
CI
-~
—25,468
—
—
4
—
—
—
With lax Irom recomputing prior year investment and
work incentive (WIN) credits
4
1,339
—
-9,526
—
—
11
—
4
8
Nontaxable
602536
536,373
~
-19,149,156
-
-
-
-
-
-
Size ol delicil
Under 55,000
354,197
49,810
—
-412,895
94
94
2,050
32
4,488
1,906
55,000 under 515000
133,068
36,290
—
-1,111,150
605
605
1,508
270
3,495
977
515,000 under 525,000
43,525
28,717
—
-618,022
CI
C)
1 277
C)
1.374
526
525,000 under 550,000
40,500
39 904
—
-1 382,182
CI
C)
1 941
C)
1,782
1,573
550,000 under 5100,000
21,453
37 735
-
-1,483,526
C)
CI
1 404
C)
1,360
1.163
5100,000 undei 5500,000
20 080
160 991
C)
-4,124,269
239
239
5,471
114
1,737
3.560
5500,000 under 51 000,000
2,665
56 564
CI
-1,866 936
C)
C)
2712
C)
283
991
51 000,000 under 510,000,000
2,247
229 176
-5,790,664
C)
CI
1 1 ,948
C)
440
5315
510000,000 01 more
212
166524
C)
-6,056,440
CI
CI
7252
CI
85
6 854
Tiiialions ol ifie Dala
Corporation Returns/1974
107
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 11208 AND 1120-DISC
Table 12.— Income Subject to Tax: Number of Returns, Net Long-Term Capital Gain, Net Income, Income Subject to Tax, Income Tax,
Foreign Tax, Investment, and Work Incentive (WIN) Credits, by Size of Income Taxed at Normal Tax and Surtax Rates, or Size of
Deficit— Continued
]A1I ligurfes are eslimales based on samples — money amounts afe in thousands ol doNafS|
Income tax
—Continued
Foreign
ai credit
Investment credit
tWorh incentive (WIN) credit
Income and tai status and sue
of Income laied at normal tax
and surtax rates, or site of delicil
Ta« Irom recomputing pnor
year work incentive (WIN|
credit
Additional tax for tax
preferences
Number of
returns
AmounI
Number of
returns
Amount
Number of
returns
Amount
Number of
returns
Amount
t*umber ot
returns
Amount
(T)
(121
(13)
(10
115)
(16)
(17)
(18)
(19)
(20)
Total returns ol active corporations, ottier than
Forms 11205 and 1120-DISC
43S
446
4,572
346.734
6.960
20.752,819
20.752,819
2u:52Ht9
533.947
533.937
533 937
4,221,384
4,221,237
4 221237
4.229
4,229
4.229
7.795
7,795
/,795
Returns wilti net income, total
393
41S
4.153
335.202
6,960
6 960
Wtlh nofmal ta» suriai, and allemalive lax, (oiai
381
409
3 869
297.576
VUiit) income laxed al normal tax and surlax rates. loial
380
406
3B12
285.889
6 866
20 715 820
533 548
4.163,981
4,217
7.725
Under S5.000
_
_
33
218
1415
164
I45I59
16.530
C)
n
S5.000 under SIO.OOO
CI
C)
95
344
308
235
68.674
29.86-1
556
312
SlO.OOO under 515.000
CI
C)
69
161
198
36
47 404
29,507
C)
C)
S15.000 under 320,000
CI
Cl
97
162
275
71
37.675
31,967
179
209
S20.000 under 525.000
CI
Cl
62
155
160
238
42615
46679
394
308
525,000
-
20
121
C)
C)
9.582
1 1 ,007
C)
Cl
526.000 under S30.000
C)
Cl
58
574
102
189
19.954
25,493
C)
Cl
530,000 under 535000
—
—
45
345
52
196
17.313
27,821
82
57
535,000 under 540,000
CI
C)
40
671
179
490
11692
21,147
C)
Cl
540.000 under 545,000
Cl
Cl
31
437
77
194
11.263
21,321
C)
C)
545.000 under 550,000
CI
Cl
106
409
40
140
9.220
20,400
176
194
550,000 under 560,000
CI
C)
no
938
80
491
14 478
33,114
55
57
560,000 under 570,000
CI
Cl
185
530
144
439
10 972
29 246
95
91
570.000 under 580,000 ... .
—
—
169
416
135
666
8.938
27,599
43
55
580,000 under 590,000
Ct
160
1 036
91
328
7216
23,259
19.401
82
Cl
82
C)
590,000 under SlOOOOO
CI
Cl
146
515
66
293
6.008
5100.000 under 5150,000
(•)
Cl
571
2.457
160
1,183
18.471
70,471
186
272
5150,000 under 5200 000
C)
Cl
J66
2900
225
6.025
10.528
46,653
132
133
5200,000 under 5250,000
C)
Cl
249
2262
140
1.439
7,016
36 482
124
162
5250,000 under 5500,000
C)
I'l
564
8 970
432
15.199
14 087
119.208
310
369
5500,000 under 51 000 000
34
16
290
10 570
450
17.431
7.324
122 716
223
353
51.000.000 under 55,000,000
27
25
238
23 439
1022
178.815
5,869
338,809
357
673
55,000,000 under SlO.000.000
11
16
33
9 305
320
159.844
790
225.160
112
529
510,000,000 under 525.000.000
5
7
27
20 648
318
386,809
584
385,825
n7
701
525,000,000 under S50.000.000
10
32
12
5 910
184
462.739
245
432.591
87
583
550,000,000 under 5100.000,000
4
10
10
21 481
98
683 198
H7
498 641
46
453
5100,000.000 or more
10
213
26
170 875
128
18 798 740
132
1.472 970
64
1619
Withoul income ia»ed al normal tax and surtax rates.
but wilh alteinaltve ta> on long-ietm capital gam-
Cl
Cl
5;
1168'
94
:i6,9':i'j
389
57,356
12
7C
Wilhoul normal lax, surtax and alternative tax. total
Cl
Cl
284
3-626
_
_
_
_
Witti additional lax lor tax preferences
-
—
284
37,626
_-
_
—
_
_
_
Wilti only tax from recomputing pnor year investment
credit
With only tax from recomputing pnoi year work
incenlrve (WIN) credit
Cl
C)
—
—
—
—
_
_
_
_
With lax IfOm recomputing pnor year mweslment and
work incentive IWIN) credits
Cl
i"i
_
—
_
_
_
_
_
Noniaxable
-
-
-
-
-
-
-
-
-
-
Returns without net income, total
45
26
419
11.532
-
-
10
147
147
-
Wim normal tax. surtax, and alternative lax ....
Without normal tax. surtax, and alleinalive lax
With additional tax lor lax pteterences
C)
\'i
419
I' 532
_
—
_
_
_
_
With only la» from recompulmg prior year tnveslmenl
credit
—
—
—
—
—
_
_
_
_
_
With only tax from recomputing priot year wofh
incentive (WINl ciectil
39
4
—
—
—
—
_
_
_
._
With lax from recomputing pnof year investment and
work incentive (WIN) credits
4
3
—
—
—
_
—
-.
_
_
Nontaxable
-
-
-
-
-
-
-
-
-
Sue of delicit
Under 55,000
C)
C)
55
112
—
_
—
_
_
_
55.000 under 515,000
C)
C)
21
261
—
_
C)
Cl
_
__
515,000 under 525,000
C)
C)
38
530
_
_
_
_
_
525,000 under 550.000
C)
Ci
4S
300
—
—
C)
Cl
_
_
550,000 under 5100.000
C)
Cl
47
203
-
-
C)
Cl
-
-
5100,000 under 5500.000
20
3
137
1.794
_
_
Cl
C)
_
5500,000 under 51,000,000
C)
Cl
25
1 653
-
-
Cl
I'l
_
_
51.000,000 under 510,000,000
5
3
44
id30:
—
_
5
53
_
_
510.000.000 or moie
Cl
Cl
:'76
■"
~
"
"
-
-
Footnotes al end of table See text (or "Explanation ol Terms and Description o! the Sample anO Limitations oi the Dala
108
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 12.— Income Subject to Tax: Number of Returns, Net Long-Term Capital Gain, Net Income, Income Subject to Tax, Income Tax,
Foreign Tax, Investment, and Work Incentive (WIN) Credits, by Size of Income Taxed at Normal Tax and Surtax Rates, or Size of
Deficit — Continued
jAII ligures are
eslimales based
on samples— money amounls ate m ihousands
jl dollars]
Income tax after—
Returns with regular lai
Income and tan status and size
Foreign tai, investment.
and work incentive (WIN)
credits
Investment and work
incentive (WIN) credits
Number o(
returns
Net income
or deficit
Income taipd
at normal
lai and
surta«
rales
Income lai
and surtai rates. 0( sue or deficit
Numtwr ol
returns
Amount
Number of
returns
Amount
Total
Normal tax
and surtai
Tan from
recomputing
prior year
investment
credit
(21)
(22)
(23)
(24)
(25)
1261
(271
128)
(291
(30)
Total returns o) active corporations, olfier than
802.840
41.126.423
803.421
61,879,242
837,725
Returns with net income, total . ,
787,412
41.091.007
787,993
61.843,626
837,701
75.886.002
73.212,377
32.871,299
32.76t.S06
45.879
With normal lax. suilax. and aiternai've ta' told'
Wilh income laxed a\ noimal la* and suflax tales lolal
Tib 105
?85 ?23
4' O'j 1.476
40. /1 1.601
786.666
785.890
61.804 :-^5
61 427 421
937 701
837.700
75,888,002
75887.663
?3,2I2,377
73,212.377
32,871,299
32871,197
32,761.606
32.761.704
45,879
45.879
Under S5,000
S5.000 under SIOOOO
S10.000 under 515,000
S 15.000 under 320,000
520.000 under 525.000
525.00IJ
261008
112,439
73.517
55,608
55.788
11 700
101.498
174 359
'92.908
209 010
269,700
61 475
261.243
112,509
73.531
55.614
55,792
11.701
101662
174.594
192 946
209,081
269.938
61,701
321,701
121,978
77 164
57 276
57.199
11,714
726,755
998,532
999.400
1 043 897
1 337,188
303 885
520,136
829,312
910.533
969,791
1,263 853
292.650
105,642
189,695
209 870
229.525
299,774
67.475
103.872
167,882
208,905
229,387
297,536
66,999
1.721
1.508
843
1.026
2.152
403
526.000 under 530.000
530,000 under 535 000
535.000 under SflO,000
540,000 under 545,000
S45 000 under 550,000
25.154
21 80B
15,956
14,186
1 1 ,350
169.071
194.664
179.277
184.577
170 132
25.155
21.817
15.967
14.199
11.351
169,260
194,860
179.767
184,771
170.272
24,602
20,458
14.957
13.297
10.268
711.391
687,257
560.674
586 925
507,863
673,062
654.786
552.799
556,279
482.595
175.292
190.548
178,082
185.243
165.595
174.425
189,410
176,799
184.469
164.899
599
983
651
589
559
550,000 under 560,000
560,000 under S/0,GOO
570,000 under 580 000
580,000 under 590,000
590,000 under 5100 WO
17,058
12,760
10,444
8 487
7 029
314,746
297,173
289 384
2B1 774
259 720
17 070
12,766
10.533
8.486
7 032
315.237
297.612
290.050
282,102
260.013
15.735
11618
9,426
7.118
6.280
892,703
761,365
729.992
627,001
613,613
853,248
749571
698.494
600,102
592,087
309,456
268,135
277,036
246.265
245,369
307.619
287.177
276,191
245.301
244.682
955
707
630
567
419
5100,000 under SISO.COO
3150,000 under 5200,000
5200.000 under 5250 GOO
5250.000 under 3500,000
3500,000 under 51.000 000
20.722
11.929
7.614
15.155
7.622
1 037.699
877,329
743 136
2,359.460
2 392.147
20,728
11.953
7614
15 182
7 629
1,038,882
883.354
744.575
2.374.659
2.409,578
17.419
to 100
6.293
12.201
5 937
2,189.480
1,792.947
1,431,683
4 363,981
4,262,172
2 124.924
1 736 480
1,400,655
4232,546
4,086236
917022
775.390
636186
1,966,595
1 ,933 644
913.377
771 376
633.326
1.956.459
1,925.499
1.939
1.930
1.135
4,387
2.539
51,000,000 under 55,000 000
SS.000.000 under 510 000 000
510.000,000 under S?5,000 000
525.000,000 under 350,000,000
550.000,000 under 5100,000,000
S100.000.000 or more
6 082
802
599
251
118
137
5.496.685
2.416 365
3 876,414
3,350.532
3 087 060
11.725.086
6.103
803
599
251
120
138
5,675.700
2,576.209
4.263.223
3813.271
3.770. 27B
30.523.826
4.147
413
261
83
29
26
8 455,681
2,915.816
4 209,495
2,903,030
2,221,185
29,013,752
6,099,651
2641.989
4,005,084
2812,961
2039 692
28 632,469
3878.970
1366.169
1 929,445
1.352,610
987 180
13 764 984
3.862.516
1,361,628
1 920,884
1,349,701
978,959
13 743 422
6.546
2736
3.074
2.619
2.847
2.027
Withoul income taxed at normal lax and surtai rales,
but with allernalive lax on long-lerm rapi'al gam'
782
339.875
796
376,874
n
CI
-
CI
CI
_
Wilhout normal tax surtax ar,d atlernative la- loial
With additional ta» lor tax preferences
With only lax Irom recompulmg prior year mvestmenl
credil
! 307
284
1 on
39 531
37.637
1685
1.307
284
1 Oil
39.531
37,637
1.685
-
-
=
~
~
-
With only lax Irorr* recorrpulmg pno' year W0'l<
ificenlwe (Wir-J) .redil
With [a-» Irom recompulinq ppuf year .nvc^imenl a-'fi
wo-k incenl-ve IvVIN) '.ludils
Nojilaiable
i')
1*)
(■)
1")
O
-
-
-
-
-
_
15.428
J5.416
15.426
35.416
24
-45.582
2.533
1.137
1.137
Wilh normal lax, suria>, and allernalive tax
yjilhoul normal lax surtax and al'ernaii«e tax
Wiiri addilional la« lor lax pres-^R'nces
Wilti only tax Irom f^compuling pnor ^ear inveslmeni
credit
22
dl'i
!4,944
Wl
1 J 8i'^
20 581
22
4 I'd
14 944
991
13.829
20,581
^■4
-45 582
2,533
1 137
1,137
-
Wilh only tax from recompulmg prior year worli
incenlive (WIN) credit
Wilh lax from recomputing pnor year investment and
work incentive (WIN) credits
Nontaxable
39
4
n
39
4
4
2
-
-
-
-
-
Sue of deficit
Under 55,000
55,000 under 515.00^
515.000 under 525 000
S25.000 under 3jU,uD0
550,000 under 3100 000
4 560
3,52U
1,415
1 8i8
1,405
2.050
1 507
1.277
1.915
1 4iM
4,550
3.520
1415
1818
1 405
2.050
1.507
1,277
1,916
1.404
5
s
(•)
CI
CI
-7
-34
CI
CI
CI
94
b05
CI
CI
CI
32
270
CI
CI
CI
32
270
CI
CI
CI
-
5100,000 under 5500,000
S500.000 under S',000,000
SI, 000.000 under SlGCOno.iO
510 000.000 or more
1.863
30^
J 66
89
5417
2b98
11995
7 232
1.663
302
-lee
B9
5.417
2.696
11 895
7^5?
4
CI
CI
CI
-1338
CI
CI
I'l
239
CI
CI
CI
114
CI
CI
CI
CI
CI
CI
-_
hootnoies at end 0\ Ut-'e Sftv. ?e«l '
I ihc Sarnpif anrj Li;nitalions <•>
Corporation Returns/1974
109
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 12.— Income Subject to Tax: Number of Returns, Net Long-Term Capital Gain, Net Income, Income Subject to Tax, Income Tax,
Foreign Tax, Investment, and Work Incentive (WIN) Credits, by Size of Income Taxed at Normal Tax and Surtax Rates, or Size of
Deficit— Continued
[All ligures are estimates Dased on samples— money amounis are m IhousanOs pi dollars)
Income and tai status and sue
of income laied at normal tai
and surtai rates, or sue ol deficil
Total returns of active corporations, othtt
than Forms 1I20S and 1120-DISC
Returns witti net income, total
Wil^ no'mal tax surtax and alternative
lai. total
Wilh income taxed al normal lax and
surtai rales, lolal
Under S5.000
55,000 under 510,000
$10,000 under $15,000
515,000 under 520,000
S20 000 under $25,000
S25.0O0
526,000 under 530,000
$30,000 under S35000
535,000 under 540 000
$40,000 under 545,000
545,000 under 550,000
550,000 under 560 000
$60,000 under 570,000
570,000 under 580,000
580,000 under 590 000
590,000 under 5100,000
5100,000 under 5150,000
5150,000 under 5200,000
S200 000 under S250 000
5250,000 under 5500,000
$500,000 under SVOOOOOO
51,000,000 under $5,000,000
55,000,000 under 510,000 000
$10,000,000 under 525,000,000
$25,000,000 under 550,000.000
$50,000,000 under SIOOOOOOOO
$100,000,000 or more
Wiltiout income taxed al normal lax and
Surtax rales, but with alternative taa
on longlerm capital gam'
Wiltioul normal lax sunax and
allernatrve tax total
Wrih additional lax lor tax preierences
Wilti only tax tfom lecompulmg prior
yeaf inveslmeni credit
With only tax Irom recompulmg pnor
year work incentive (WIN) credi!
With tax Irorn recomputing pnor year
investment and work incentive (WIN)
credits
NontaxaOie
Returns without net income, total
With normal tax, surtax, and alternative tai
Without normal tax, surtai, and
alternative tai
With additional tax for lax preferences
With only lax (rom recomputing prior
year .nveslmeni credit
With only lax Irom recomputing prio*
year work incentive (WIN) credit
With tai from recomputing pnor year
investment and woik mcentive (WIN|
credits
Nontaxable
Size of delicit
Under 55.000
55,000 under $15000
$15,000 under S25 000
525,000 under 550,000
550.000 under 5100,000
5100,000 under 5500,000
5500 000 under Si ,000,000
S1.000.000 under SIO.000,000
510,000,000 or more
Returns with regular tai — Continued
Income lai— Continued
Tax from
recomputing
prior year
Morh incen-
tive (WIN)
credit
Addiiiona!
lax lor laj
preferences
63.491
63.491
63 491
63,491
1 B01
896
2 18A
5055
1703
1 146
5741
11235
5 598
10,436
9892
93,471
1795
42 869
5484
101.310
287
66,036
5 974
209,757
19 535
11906 969
12.472.165
12.472,165
124/2.165
12 472 165
Foolnoles at end of table See texl tor "Explanation ol Terms and Description ol the Sample and L
1.?S8,S19
1.288,373
15 721
29 176
28 980
31 109
44 463
9,682
22919
24,504
17 3J8
le 411
16 3R1
28 621
24 32
22B56
18 729
16236
53483
37 107
28371
86 050
83.628
171 592
67,559
119,603
80 272
76 713
1 U 642
Work
Incentive
(WIN)
credit
3.898
3.898
Total
Income tat
after
credits
19,107.654
19,106.863
19 106,863
t9 106 761
69,703
159 973
'80 660
t% 136
254 878
57 723
152 206
165 952
160 326
166 652
U9 022
280 490
263 31
253 692
22? 204
228.908
862 407
733.106
606,520
1 868,99'
1,839,413
3 613,576
t. 255,594
t 708 197
t 186,197
700,603
1 743 316
Returns wilh alternative tai
Number of
returns
33.825
33,624
33 824
33,025
978
) ItO
696
723
t 364
1915
1 34
I 13'
1.572
1,273
I 146
1 370
755
3,309
1,854
1,321
2 96)
1,692
1956
390
338
76,454,916
76,456.623
42,914
54 627
49 265
44.278
70,979
23 1
?2,360
115400
82,613
69,169
76.916
122,438
117.657
116.367
167 994
90,080
491 376
384,421
349,070
1,254 920
1,393,138
4865,376
3,320,026
6,001,997
6 233,963
7,311,603
42 147,282
Income subject (o tai
Net long-term capital
gain taxed at alterna-
tive rates
n
5,222,122
5.222.122
38,320
43482
32 021
26,959
27,160
6354
30,763
47,284
25,707
16 124
16,243
25,980
25 176
23,138
40,878
13.121
59,126
41,042
37,494
132,301
105,446
434676
347,436
387,088
295,488
560,471
680,085
Amount
taied at
25 percent
rate
|40)
187.960
167.960
2,102
4 556
1,354
11,826
4.152
9.383
20 046
10,751
93.197
Income
taied at
normal
(ai and
surtai
rates
65,530.330
65.530,324
65,530,324
65,530,324
2,220
8,224
10714
12,173
33 143
12,025
37,397
60 543
49,752
47 945
59,199
85,305
61.961
85,207
114,946
7t,807
403,961
319474
295.016
1 045.572
1,188,335
4,161 820
2.753,345
5,382 726
5,813,055
6,365,253
37,029,206
(•)
no
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 12.— Income Subject to Tax: Number of Returns, Net Long-Term Capital Gain, Net Income, Income Subject to Tax, Income Tax,
Foreign Tax, Investment, and Work Incentive (WIN) Credits, by Size of Income Taxed at Normal Tax and Surtax Rates, or Size of
Deficit — Continued
|AII figures are
eslimates baser]
on sdfripit,s— money amounls a
e m thousands o' dollars)
Returns with alternative lai
—Continued
income lax
Work
Total
Long-lerm ca
certain bind
Dilal gam from
Income and tai status and sue
Tai Irom
recomputing
prior year
investment
credit
Tai Irom
ng contracts
of income taied at normal tax
Total
Normal lai.
sunai. and
alternative
tai
recomputing
prior year
worh incen-
tive (WIN)
credit
Additional
tax lor tax
preferences
Foreign tax
credit
Investment
credil
incentive
(WIN)
credit
income
tai
after
credits
and instal meni sales
and surtai rates, or size of deficit
Number of
returns
Amount
(42)
(431
(44)
(45)
1461
(47)
(48)
(49)
(50)
(511
(52)
Total returns of active corporatpons. ottier
than Forms I120Sand 1120-DISC
33.162,029
32.819.177
108.481
286
234,085
8.280,654
2,932,865
3,897
21,944.613
1.463
227.382
Returns with net income, total
33,162.028
32.819.176
108.481
286
234,085
e.2B0.6S4
2,932,864
3,897
21,944.613
1,463
227.362
With normal la>, suflax, and allernalive
lax, total
33 162.028
32819,176
108 481
286
234.065
8.280 654
2 932 864
3.897
21 944 513
1.463
227.382
Wilh income taxed al normal ta> and
surtax rates. loiai
32 727.830
32399,001
106 145
283
222 398
8 243 655
2 875 506
3.827
21504 840
1436
221362
Under S5.000
12.607
12.108
330
_
(•)
C)
809
_
11.795
C)
C)
S5.000 under SI 0,000
15.075
14 977
56
—
("1
C)
688
C)
14 386
(*)
C)
S10.000 under S15.000
12 775
12665
51
—
Cl
C)
527
12 248
C)
C)
SI 5.000 under S20,000
11 732
11 541
121
—
{')
C)
656
CI
10 674
C)
C)
S20.000 under 525,000
17.151
16,901
179
—
(■)
C)
2.216
14.622
C)
D
S25.000
6.273
4753
472
-
Cl
C)
1325
C)
3 752
{•)
C)
526,000 under 530.000
19 542
18893
349
(■)
300
(■)
2 574
CI
16 865
C)
Cl
S30.000 under S35.000
32.190
31 787
213
—
C)
(•)
3.317
C)
28 712
95
644
S35.000 under 510,000
22.926
22 644
243
.-
C)
148
3 809
C)
18,951
C)
Cl
540,000 under 545.000
20 855
20495
115
—
C)
CI
2,910
(•)
17.925
C)
C)
545,000 under S50 000
25271
24,635
361
{■|
275
CI
4019
(*)
21 tlO
C)
Cl
550.000 under 560,000
38.952
38,511
381
CI
60
203
4 493
_
34,255
108
712
560.000 under 570,000
36.814
38.221
282
—
311
CI
4.919
C)
33,859
31
414
570,000 under 580.000
40.666
40.121
346
—
201
CI
4 743
C)
35,692
34
1,585
580,000 under 590 000
59.176
58318
221
—
639
CI
4 530
C)
54.570
63
720
590.000 under SIOO.OOO
34 088
33723
119
(■)
246
C!
3.165
-
30.812
31
213
5100.000 under $150,000
192.603
190,380
1 564
(■)
656
287
16 988
36
1 75.292
101
3,236
5150.000 under 5200.000
154.750
153,556
478
(•)
716
970
9 546
C)
144.223
56
705
S200.000 under 5250,000
145.033
144 131
342
(■)
559
293
6.111
CI
136.616
32
2,156
5250 000 under $500,000
527 631
522 244
2,158
(')
3,229
3.964
33.156
40
490.469
94
4.879
S500.000 under 51,000,000
599 003
591265
2,758
(•)
4 972
6.995
39 186
86
552.734
56
1,516
51,000,000 under 55.000.000
2,136.212
2 115.097
7.559
9
13.547
85,344
167.217
342
1,683.309
114
49.043
55,000.000 under 510,000.000
1 435.729
1,423 004
5,209
6
7.510
116.975
157 601
382
1.160.771
33
4 356
510,000,000 under 525 000 000
2.720.304
2697,203
7 933
d
15.164
285.499
266.222
366
2.168,217
40
9.414
525.000.000 under 550.000,000
2.893.635
2876833
11,350
29
5.623
376.703
352.319
478
2.164.335
20
20.360
550,000,000 under 5100.000.000
3,282 192
3,252 323
13,752
10
16.107
473.441
421.928
346
2.396.477
20
10751
S100 000 000 ot more
18.233 431
18 032 675
49 203
213
151340
6891 771
1.358.328
1564
9.961.768
35
93.197
Wiltiout income taxed at normal ta> and
surtax rates, but with allernalive lai
on long-lerm capilal gam'
434 198
420 172
2336
(■)
11.687
36.999
57 356
70
339 773
27
6.020
Without normal lax surla« and
allernative lax. loial
—
—
—
—
—
—
—
—
—
_
_
With additional tax tor lax prelerences
—
—
—
—
—
—
-
—
-
—
—
With onlv la» Itom recompulmg prior
year investment credit
—
—
—
—
—
—
—
~
—
—
—
With only tax from recomputing pnor
year work incentive (WIN) credit
—
—
—
—
—
—
—
—
—
—
—
With tax from recomputing prior year
investment and work mcenlive (WIN)
credits
Nont3«able
-
-
-
-
-
-
-
-
-
-
-
Returns without net income, total
(')
I'l
_
_
_
_
(•(
_
_
_
_
With normal lax 5urla' and allernalive ta«
(■)
(■)
_
_
_
_
C)
_
_
_
_
Without normal la>. surtax and
allernalive ia«
With addiiionai la. lor la.
preferences
—
—
—
—
—
—
—
~
-
—
—
With onlv la« 'fom recomputing pnof
year investmenl credit
Wilh only lax (rom recomputing pnof
year wo'k incentive (WIN) credit
—
—
—
—
—
—
—
—
—
—
—
With tax from recomputing prior year
inveslment and worl( incentive (WIN)
credits
Nonlavable
-
-
-
-
-
-
-
-
-
-
-
Size of delicit
Under S5.000
—
—
—
—
—
—
—
—
—
—
—
55,000 under 515.000
—
—
—
—
—
—
—
—
—
—
—
815,000 under S25.000
—
—
—
—
—
—
—
—
—
—
—
525,000 under 550,000
—
—
—
—
—
—
—
—
—
—
—
550,000 under 5100 000
-
-
-
-
~
"
~
—
~
-
-
SIOO.OOO under S500.000
-
-
-
-
~
-
-
-
^
-
-
5500,000 under 51,000 000
Sl.000.000 under 510 000.000
CI
CI
—
—
—
—
C)
—
—
—
—
SI 0,000.000 Of more
"
_
"
(•) Estimate IS not shown separately because ot the small number ol sample relurns on which it was based However, the data are included m Ihe appropriate totals
■Includes returns with income lated al allematiwe rales and a tew returns ol mutual savings banks, regulated investment companies or real estate investment trust not eligible lor alternative lax. but with capital gains taxed at
alternative rates under special provisions ol the Internal Revenue Code
NOTE Credits include foreign tax inveslment, and work incentive (WIN) credits See text lor Explanation ol Terms and Description ol Ihe Sample and Limitations ol the Data *"
Corporation Returns/1974
111
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 13.— Number of Returns, Selected Receipts, Net Income, Statutory Special Deductions, Income Subject to Tax, Income Tax,
Credits, Tax Payments, Tax Due or Overpayment, Selected Tax Preference and Investment Credit Items, by Size of Income Tax After
Credits
[All figures are
rrslimales based on sampli-s-money amounts a
e in thousands ol tJollafSj
Type o( felurn, sue of normal
Number of
returns
Total
receipts
Net long-term
capital gam
reduced
by nel
shon-lerm
capital loss
Dividends
received
from domestic
corporations
Intragroup dividends
qualilying lor—
Nel income
or delicit
Statutory special deducbons
tax, surtax, and allernaliv«
lai atler credtia
too percent
deduction
lloreign and
domestic)
Transitional
deduction
under section
1564jb)
Total
Nel operating
loss deduction
Dividends
received
deduction
111
121
131
141
(5)
16)
17)
(•)
(9)
(10)
Total Active Corporalion Returns Other Tlian Forms
11205 and 1120 DISC
Total
1.626,334
2.941.467.104
7.740.064
13.778.663
12.856 031
905.509
797 624
83.457
81 410
137.506.774
160 552 680
15.193.628
14.526422
5.439.290
5.439290
8,678.448
8,024 945
flelurns wjlh nel income, total
1 OOfl 367
2522.791.598
6.934.351
Wiin normal ia<, surtax, and a:ie'nalive lax tjelore
credils, lotal'
871,525
2.360.821.314
5.691 050
8.576.480
310.646
77.076
152.346.625
8.357.220
1,874 167
5.423.743
Wiiri normal lax surtax and allernalive lax alter
credils, lolal
776 17a
2.210.094 190
5 528 365
7 460.255
307.054
76 749
147 867 464
6 898 106
1500,708
4 500.423
Undei 56,000
5M,9a6
188.594 892
245.751
161289
3918
2 492
4 980.292
423 432
303,000
n9.see
S6000 under S1000C
16,205
45.094.207
49.815
26 138
n
(■)
1479 521
72 112
52 034
19.445
St 0,000 under 515,000
35,652
42812774
61 477
35 466
6.259
2 130
1480.647
66.037
35,652
29,673
515,000 under 520,000
22 464
32 740 432
66 091
34 147
(•)
(■)
1 194 096
53.611
26,294
27 135
520,000 under 525,000
15 124
28 349053
49347
25 299
f)
1*)
1.016 227
40.601
20511
20,002
525,000 under S50000
38 635
88 281.386
159 096
87.788
2292
5 011
3674.931
138 769
65 087
70,121
550,000 under 575 000
17 335
58.908 195
91621
71058
5.179
3 175
2683.414
93.573
38 328
50,345
575,000 under 5100,000
9847
46.665.376
93 404
66.617
18.694
4646
2 123.992
87.655
31,855
54,331
5100.000 under 5250,000
19559
143 299 478
279.247
244 611
32.726
10 363
7 417 229
358.247
169,717
176,567
5250 000 under 5500,000
6950
135 693 710
250 096
201.741
14455
9 364
5 967 829
214 603
104 328
102,912
S500 000 under 51,000,000
3479
136.599259
252 026
178 338
10418
5.119
28 568.762
250.333
113,501
105 246
51000,000 under 510000,000
3,246
463 850 576
1091.174
1 313.327
119 558
28 920
23.971 757
997.211
305,999
612 873
510,000,000 under SSOOOOOOO
417
411 361 511
1 683 946
1811800
43.362
3244
28 509 489
1.381 170
226 819
1 023 155
550,000,000 under 5100,000,000
46
120.760 155
365 453
397 906
34 984
1274
10622 287
352.526
2 825
155 923
5100 000,000 01 more
29
267.083.184
787.819
2.804.730
8.842
24.156.971
2368.228
2,758
1,932,607
Wimoul normal lax surtax and allernalive tax
alter ciedils
95 351
150.727.124
362.685
1.116.225
3.592
(■)
4.479.161
1.459112
373459
923,320
Wiirioul normal tax. surtax and allernalive lax
before credits-
136842
161970.284
1.043 301
4.279.551
486 978
4.334
8.206.255
6.169.202
3,565,123
2,601.202
Hetuins xvilhoul nel income
617 967
418 675 5^6
805 713
922632
107 885
2.047
-23 046 106
667 206
-
653,503
Retu.ns With Additional Tax tor Tax Preferences
Total
4,572
426.89e,a2a
2.205.521
6.541.170
69.847
CI
25.601,005
7.145,736
1,014,028
5.337.406
Returns xvilti nel income lolai
4,153
3%.398 982
2164 503
6.479.929
69 841
n
26.187.920
7110,539
1 D14 028
5 303,111
Wim normal lax. surtax and allernalive tax before credits
3,869
334.063.837
1991 053
4.409 560
30 315
(•)
23 945521
4,794,222
^51 637
3 551,978
Wilhoul normal tax surtax, and allernalive lax
belore credits
264
62 335 145
173 450
2.070369
(')
1*)
2.242399
2,316317
562,391
1.751,133
Returns wilhoul net income
419
30 497.846
41.018
61 241
fl
-
-586 915
35 197
-
34.295
In
ome subject 10
ai
Income lax
Foreign tax credit
Type of return, sue of normal
Net long-Iern
taxed at alte
capital 9ain
rnative rales
Income taxed
Normal lax.
Tax from
Tax from
at normal tax
surtax, and
recomputing
recomputing
Additional
Nufnb^r of
lax, surtax, and allernative
tax after credits
Total
Amount
taxed at
and surtax
rates
Total
alternative
lax
pnor year
■nveslmeni
prior year
work incentive
lax for (ax
preferences
returns
Amount
25 percent
rate
credit
(WIN) credit
fill
(121
1131
114)
115)
1161
{171
(18)
119)
(201
Total Active Corporation Returns Other Than Forms
1120S and lt20-DISC
Total
5,222,122
187.960
138.745.240
66.108 421
65.562.120
179.121
446
346.734
6,%0
6 960
20.752.819
20.752,819
Returns Willi net income lolal
5222,122
187 960
138 742 701
66 072 858
65 580.982
156.256
418
335202
tWiih normal lax, surtax, and allernalive lax belore
credils, lolal'
5,222 122
187.960
136 742 701
66 033 327
65 580 982
154 360
409
297576
6960
20.752.619
Willi normal lax, surtax, and allemalnie lax alter
credits, lolal
4 958,652
181 998
135 985 435
64 693.853
64.306.696
146 059
370
240 728
6,257
19,599,6?5
Under 56000
11677
1*1
4 525 196
1 .032.369
1.026.613
5 059
486
2094
10 954
56.000 under 510,000
19,760
600
1 387 666
400.719
398.639
1 769
306
125
4,769
510000 under 515,000
43,023
1.265
1.371 541
465.577
463.369
1.679
529
184
925
516000 under S20000
49,362
1 169
1092.688
415.057
412.555
1.339
1.160
262
3.679
520 000 under 525 000
37 766
707
936 328
373224
370.880
1 763
581
71
10,106
525,000 under 550000
110 939
8.748
3 430074
1 457.434
1.450 454
3.677
3.10O
375
10910
550,000 under 575,000
80.896
3.556
2.510.838
1.130.092
1.125.026
2.272
2789
188
6,096
575,000 under 5100 000
55222
7.946
1.980.662
915.388
908.268
2.887
4217
177
15.489
5100,000 under 5250,000
226.247
8.099
6.830.697
3 246.550
3.227.084
7.666
23
11.577
515
73 457
5250,000 under 5500,000
214 077
4 663
5.558.292
2708 831
2 689.842
7487
9
11.493
426
159.038
5500 000 under 51,000 000
230.712
5277
28.083.030
13.548 839
13527 495
5983
12
15.349
432
10.957 941
51,000,000 under 510.000,000
1041.893
27.146
21.911.174
10.8%.O42
10.808.536
35210
44
52.252
1,032
1,033.897
510 000.000 under 550.000.000
1.683.946
65 126
25454.236
12 838 446
12717.344
32.627
49
88426
308
2 954 134
550 000 000 under 5100 000 000
365.453
29 357
9904 310
4 897 378
4 861 940
7345
(•)
28 092
40
1 ,d02 260
SteOOOOOOO or mote
787.819
18 138
21O06~03
to 367 907
10 318.449
28896
(•)
20.369
26
2 953 620
Wilhoul normal lax. surtax and allernalive lax
alter credits
263 270
5 962
2 757 266
1.339.474
1.274.286
8.301
(■)
56.848
703
1 153 144
Wiinoul normal lax. surtax and allernalive tax
before credits-
-
-
-
39.531
-
1.896
1 )
37.626
-
-
Returns without net income
n
-
2.539
35.563
1.138
22.865
28
11.532
-
-
Returns With Additional Tax lor Tax Preferences
Total
1.960.832
58.573
17,224.318
9.190.469
S.829.538
14.170
!•)
346.734
185
5-395.593
Returns with nel income lolal
1 960832
58.573
17.224.318
9 1 76 640
a 829 538
11.894
I'l
335.202
185
5 395,593
With normal lax, surtax and allernalive lax belore credits
1.960 832
58 573
17.224.318
9 136 803
8 629 538
1 1 .683
I'l
297 576
185
5.395.593
Without normal tax surtax and alternative tax
before credits
-
-
-
37.837
-
l\\
-
37.626
-
-
Returns without nel income
-
-
-
13.829
-
2 276
("1
11.532
-
-
Foolnoies al end ot table See lenl lor "Explanation ot Terms' and Descnplion oi ifie Sample and Limitations ot the Oaia
112
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 13.— Number of Returns, Selected Receipts, Net Income, Statutory Special Deductions, Income Subject to Tax, Income Tax,
Credits, Tax Payments, Tax Due or Overpayment, Selected Tax Preference and Investment Credit Items, by Size of Income Tax After
Credits— Continued
(All figures are
eslimales based
on samples— money amounis are in ihousands o( dollars)
Investment credit
Work incentive {WIN) credit
Normal lai,
surlai, and
alternative
tax after
credits
Total income
lax after
credits
Taipa^ments
Number of
returns
Amounf
Number ol
returns
Amount
Total
net
taxpaymenls
Estimated tai paymenls
lax. surtax, and alternative
tax alter credits
Total net estimated
tax paymenls
1973 overpayments
claimed as a credit
Number of
relurns
Amount
Number of
returns
Amount
(21)
1221
(231
(241
125)
1261
1271
1261
(291
(301
131)
Total Active Corporalion Returns Other
Than Forms 1120S and 1120-DISC
Tolai
5:1 J, 94 7
Jr21 38")
4,229
7795
40 600 122
41 126423
36 128 198
481 744
27 906 050
102 220
1290 295
Relurns wilh net income, loial
533 93?
i221 237
4,229
7 795
40 599 131
41091007
37 885 212
431 912
27 693 369
85 625
1201 175
Wilh normal lax, surtax, and altefnalive
lai before credits, lolal'
533.937
J 221,237
4,229
7.795
40 599 131
41 051 476
37 827 932
428 467
27 674 795
84 139
1 194 299
With normal lax, surtax, and
allGrnalivo lax altei crodits lolal
Under 56,000
56,000 under 51 0,000
510.000 under S15.000
$15,000 under 520,000
520,000 under 525,000
439 000
262 152
34,701
25,095
16 578
12 236
i 100^140
135,999
45 366
41469
30717
26 297
3,979
1505
158
292
88
76
7.450
1019
139
225
104
144
40 599 131
878.841
346.365
420 750
377 855
332 333
40 986.286
884.397
350 445
422.958
380.357
334.677
37,654.317
569,665
259,611
325.930
279 880
247 284
402.810
216.781
34.569
28.540
18 863
12 789
27 572.077
488 092
227.598
282 792
247 170
221 491
77.640
36 506
6 747
5749
3 920
2671
1 171.653
57 635
24 356
27.231
20 764
16631
S25.000 under 550,000
550,000 under 575,000
575,000 under 5100,000
SIOO.OOO under 5250,000
S250.000 under 5500,000
32 540
15.278
8,668
18,076
6.646
88,042
57,880
45344
150 500
128,773
235
153
124
409
202
241
136
141
530
310
135126T
1058 916
847294
3002 597
2401 721
1,358,241
1 063960
854.414
3022.063
2420 710
1 076,474
626 991
664.646
2 390 427
1966164
34 498
15912
8 999
18.268
6617
949417
731077
563.758
2.049892
1.631 765
7043
3.497
1842
4.046
1,516
57 698
46 258
32.153
107.987
69 541
S500.000 under 51.000.000
Sl.000.000 under 510,000,000
SIO.000,000 under 550 000,000
550,000 000 under 5100,000,000
5100.000,000 or more
3.359
3,181
415
46
29
148 884
938,666
1 155 803
288.642
816,058
184
368
144
23
18
362
1,626
870
236
1,167
2420.308
6.834.147
8.606.537
3.170.802
6.547.404
2 441.652
8.921.653
8727.639
3.206.240
6 596.862
2061 255
8 269 432
8 758.210
3224466
6733682
3 336
3.133
410
46
29
1.668 365
6.098.518
5.922.059
2.035.637
4.434.446
852
1.019
193
25
14
72,291
272.500
226 538
45.285
94 783
Without normal ta<, suriax, and
allernal've alter la. crediis
94,937
120797
250
345
_
65.168
173615
25 657
102718
6499
22646
Wilhout no'mal lax surta«, and
allernative la< before credils-
_
-
-
-
39 531
57 280
3 445
18 574
1466
6.876
Relofns wilhout net mcom.j
10
147
-
-
991
35.416
242 986
49632
212681
16.595
89.120
Tolal .
1 54.'
644,421
75
411-1
2789.120
3.150.051
3.229.048
3.534
1.621.525
735
46.048
Relurns wilfi nel income, total
3.542
644,421
75
404
2.789.120
3,136,222
3 206 714
3.368
1 608 439
675
43 409
With normal tax, suria*. and allernative
lax before credits
3.542
644,421
75
404
2.789.120
3096 385
3 169 294
3327
1 604 104
661
43272
Wilhoul normal ta«, sunax, and
atlernative ia» belore credits
-
-
-
-
37 837
37.420
41
4.335
14
137
Relutns without net income
-
-
-
-
13 829
22 334
166
13 086
60
4639
Taipayment
—Continued
Tax due at
lime of fifing
Estimated tax paymenls— Continued
Credit tor
tan on special
tuets. non.
highway
gasotine, and
lubricating
oil
Credit for
tax paid by
regulated
investment
companies
Payments with
applications lor—
1974 estimated
tax paymenls
Less: Refund ol
estimated tax payments
I«i
Number ol
returns
Amount
Number ol
returns
Amount
First
extension
ol lilmg lime
Second
extension
of filing time
overpayment
(321
(33)
(34)
(35)
(36)
(37)
(36)
(39)
(40)
(41)
Total Active Corporation Returns Ottier Than Forms
1120S and 1120-OlSC
Tolal
439 146
27 944 938
10,219
i 329 425
36.602
1 563
6.272598
3.911.365
5.719.966
2,737.698
Returns with net income. lolal
With normal la«. surtax, and alternalive tax before
398.022
395.877
27.449.132
27.400.058
5.816
5.669
957.111
919749
31,661
30095
1.418
1.335
6.252850
6.231.694
3905.914
3 890.013
5706.809
5. '02.242
2,51 7.620
2,495,507
Wilh normal tax, suMax. and allernalive tax alter
credits, tolal
Under S6,000
56,000 under St 0,000
SIO.OOO under S15000
515,000 under 520,000
520,000 under 525.000
373.858
196.375
32.396
26 662
17 902
12.055
27.264.847
454 252
214647
271 119
239.224
212.700
4.953
1.267
592
445
306
209
864.499
24.318
11.360
15.241
12.818
7.927
26,427
615
758
344
183
254
1.332
30
(■)
(■)
CI
C)
6.190.022
75,239
28,043
38.228
29.226
22.306
3.862.459
5.489
3.140
4.561
3.061
3,215
5.696.538
494.040
164.508
172.048
155.303
127.882
2.384,947
195,409
73,549
74.637
54.294
39.927
525.000 under 550.000
550.000 under 575000
S75.000 under S100000
SIOO.OOO under 5250.000
5250.000 under 5500.000
32 992
15359
8758
17,,^16
6 482
929.635
712.023
571.106
2.028.432
1.638.943
640
291
188
466
185
38.035
27.182
19.530
86,467
76,674
569
738
857
1.500
1,489
C)
C)
C)
271
C)
111.886
82.420
66.577
279.015
260.253
14,588
12,707
13.194
59,749
72,594
437.912
323 937
256.028
820.524
588.365
155.471
86.145
65.682
186.852
133.246
S500.000 under 51.000 000
51.000000 under 510.000.000
510.000000 under S50000.000
550.000.000 under 5100 000,000
5100,000000 or more
Wilhout normal tax suMax and alternalive lax
3,285
3.093
408
46
29
22019
1 670.462
6,105.689
5.844.634
2.015.417
4.356.364
135.211
147
163
3
716
74.381
279.683
149 118
41.765
55 250
1095
7,190
8.501
r 1.550
2.584
1.668
C)
177
12
3
293.674
1.424 448
1.565.316
654.723
1 258.668
41 672
98,000
739,099
1,262,322
532,556
1038 184
27 554
514.935
1,181,630
351,676
75,609
31941
5.704
134.312
529.262
393,165
94.032
168.964
110 560
Wilhout normal tax suriax and alternalive lax
belore credits'
2 145
49 074
147
37362
1 566
CI
21 156
15901
4567
22.113
Return without nel income
41.124
4M' H06
4 403
372.314
4 941
C)
19748
5.451
13.157
220078
Returns With Additional Tax for Tax Preferences
Tolal
3,450
1.636.426
187
62.933
5.803
C)
862 000
739.714
131654
210,672
Returns with net income, lolal
With normal lax. surtax, and allernalive lax belore credits
Without normal tax surtax, and allernative lax
belore credits
3,281
3.248
33
1.613.869
1,606,497
5,372
136
134
CI
48.819
47.645
(■)
5413
4.806
607
C)
CI
856414
83B616
17.796
736.442
721 760
14682
127.417
124 021
3.396
197.764
194.770
2.994
Returns wilhoul nel income
169
22 557
51
14 1 14
390
5566
3272
4437
12.908
Foolnofes al end of table See Te.l for Explanation ol Terms' and Description ol the Sample and Limitations of the Data
Corporation Returns/1974
113
RETURNS OF ACTIVE CORPORATIONS OTHER THAN FORMS 1120S AND 1120-DISC
Table 13.— Number of Returns, Selected Receipts, Net Income, Statutory Special Deductions, Income Subject to Tax, Income Tax,
Credits, Taxpayments, Tax Due or Overpayment, Selected Tax Preference and Investment Credit Items, by Size of Income Tax After
Credits— Continued
[All figures are estimates basec
on samples-money amounts are in ttiousant's of dollars!
Tax preference items
Investment credit Items
Typ« of return size ot normal
tai. surtaii. and alternative
tai after credits
Total Items ol tax preference
Deferred
additional
tax for tax
preferences
Additional
tax tor tax
preferences
deferred
Total cost of
property used
tor investment
credit
Investment
oualifled
for credit
Tenfallve
Investment
credit
credit
carryover
Before
exclusion and
income fax
used as an
After
exclusion and
Income tax
used as art
Tentative
additional
lax for lax
preferences
Unused
Investment
credit
offset
offset
years
(421
1431
1441
145)
1461
|47|
(481
(491
(501
151)
Total Active Corporation aetoms Other Trian Forms
11205 and 1120-OISC
Tola!
10185217
3 547 762
354 643
22399
t4 498
96 620 019
86 572,770
5,365,919
3,519,323
4,663,709
Returns with net income, total
W(tn noimal las. surtax, and alteinative tai belore
9693 232
3,234,466
323 342
2 556
14 409
60 724 965
72 392 453
4 516,411
2,523,443
2,816 469
credits total'
Wiftt normal Ian, surtax, and alleinalne lax after
9S96 712
2866725
286 593
n
11 101
7 7 351392
69 393 540
4 322 739
1,709617
1,810,971
credits, total
Under 56,000
$6,000 under StOOOO
SfO.OOO under 515,000
515000 under 520,000
520,000 under 525,000
8 678,652
38 824
25 575
32,239
47 856
33612
2302,181
6 079
3,338
4 567
11,390
5,876
230,142
576
318
44B
1 137
581
(•)
(■)
CI
10704
CI
|-|
C)
CI
CI
71,906 722
2642146
812719
727 130
522 424
455 140
64 725 871
1922 381
643,727
579,410
411,723
363,396
4,000,037
117.249
43,935
39,663
28,503
25,292
1.412,713
32,748
10,431
10,289
7,617
6,310
1,312,241
13,983
6997
8,482
5,401
3,301
143 386
117,367
124,212
396715
365,001
28 759
24,329
42,168
111,534
104,716
2,881
2435
4213
11,148
10,463
i')
219
CI
CI
CI
1,034
1 548 070
1 081,190
1 084 637
3,479 643
3,753779
1,249,409
864,065
914,305
2,944,298
3 036 862
86.446
60.431
61.753
189.512
209.287
19,370
10.092
22.073
66.155
42.272
17,757
12.640
38.478
105161
122.784
550000 under 575,000
575.000 under 5100,000
5100,000 under 5250000
5250,000 under 5500,000
5500 000 under 51 000 000
397 880
1,541,603
2,537,412
894,976
1,981,992
147,612
464,643
862,356
260,918
203.694
14,761
46,484
86,236
28,092
20 369
I
CI
5,768
n
2,740,245
17 509,741
15,875 317
3 627 062
16,047 479
2 440,060
15 877,954
14 840 658
3 371 302
15,266 301
163.486
979.241
967,590
229,203
798.446
41.961
406.692
659.654
59.437
17.612
56.556
447,263
471,440
CI
51 000000 under 510000000 . . ...
SIO.000,000 under 550,000,000
550,000,000 under 5100 000 000
5100,000,000 01 more
Wimout noimal ia> sunax and aiteinative tax
after credits
Witnoui normal lax, surtax and alternative tax
620,060
564 544
56451
-
CI
5,444,670
4,667 669
322.702
296,904
498,730
394 520
367 741
36 749
2 438
3,373,573
15,395 054
2,998,913
14 180,317
193.672
849.508
813,826
995,860
1,007,498
1,845,240
Returns without net iiKome
491,985
313 296
31301
19,843
CI
Returns WlHi Addlltonal Tax for Tax Preferences
Total
6 268 727
3 364,781
336,370
4,126
14 496
12311 251
11,528,086
769,941
1,072,584
1,198,072
Returns wilf> nol income Iota!
Willi normal lax, surtax, and alternative tax tjetore credits
Without normal tax, surtax and allernalive tax
6 086 211
5726,717
3215 117
2,665,558
321 425
266,475
f)
14 409
11,101
10 808 650
9,793865
10,243459
9,258,851
693,676
639,764
1047,132
870,643
1,096,355
865.954
tietore credits
359494
349,559
34,950
CI
3,308
1,014,785
984,608
53,912
176.469
230.401
Returns without net income
182,516
149 664
14,945
3487
CI
1 502 601
1284,627
76,265
25.452
101.717
(■) Estimale is not shown separately because of the small number ol sample reiurns on whicn it was based However, the data are included m the appfOprtale totals
' Encludes fOlurns wilh Oftly lax Irom recompuling prior year inveslmenlcredil.tax Irom recomputing prior year work incenlivc (WIN) credit and/oi addihonal lax lor tax preferences.
-■ Includes rolurns wilh only lax from recompuling prior year investment credit, lax from recompuling pnor year work mcenlive (WIN) credil and'or additional tax lor lax prelerences
NOTE Credils include loreign lax, inveslmenl, and work incentive (WIN( credits See texl lor Explanation ot Terms and Descnplion o) Ihe Sample and Limilations ol Ihe Daia *
114
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 14.— Taxpayments: Number of Returns, Net Income, Special Deductions, Income Tax, Credits, Taxpayments, Tax Due or
Overpayment, by Taxpayment Status, by Size of Total Tax After Credits
[All ligures
are eslimati;s based on samp
es—money amounis are m itiousands of dollar^!
Total receipts
Statutory special deductions
Income sub|ect to tax
Deduction
Type ot returns, size o'
lotal tax alter credits
Total
number of
returns
Returns
with and
without
net income
Returns
with
Nel
Income
Delicit
Net
operating
loss
deduction
Dividends
received
for
dividends
paid
Western
Hemisphere
Trade
Total
Net long-
term capital
gain taxed
nel income
deduction
on certain
Corporation
at alterna-
pulilic utility
deduction
tive rates
stock
HI
121
(31
|4|
151
(61
(71
181
|9|
HOI
(111
Total active corporation returns
1.965.894
3.089.701,363
2.646,541.904
171.166.224
25.168,416
5,440,298
5439,290
8,678,454
8 678 448
34.475
1.041.415
1.041.415
143,982,513
143.967.362
5.236.421
5.222.122
Returns other than Forms 1120S and 1120-DISC lotat
1626,334
2,941,467,104
2.522.791.598
160.552,880
23 046 106
34 475
fleturns with tai due at time o( tiling, total
633 843
1.048,661 361
967.437.635
52.907.148
2.752.859
1,139,560
3 224 572
9569
83.711
46.925.297
1.627.915
tfl/ith total lax after credits total
633,815
1,048,655,444
967.435 322
52.906,695
2.751 351
1 139 437
3 224 242
9.569
63 711
48.925.297
1,627,915
Undei S6 000
472603
165,675928
138.716.729
4 102 964
1308 318
327 391
388 556
C)
3569.030
6.795
56,000 under S10 000
36499
35418,543
31,265.172
1 142 229
176 371
55831
2' 535
CI
Cl
1.061.393
13.236
510,000 under 515,000
25 701
29,460,565
26,140 641
1 064,338
141.355
31,690
19671
Cl
1 014,356
30.033
515.000 under 520,000
16,766
22,068,282
19,952406
874,907
103 552
22,373
17,936
_
838 397
42.682
520,000 under 525,000
11 230
16,485,973
17,060,255
738,051
39.194
18,272
17610
_
Cl
703 596
26.812
525000 under 550,000
27,861
63,364,793
55,748,064
2 659,791
82.015
83.592
58,958
CI
Cl
2,537,682
67.178
550,000 under 575,000
12823
46,141,701
37,735,975
1965 970
411.174
47856
126,543
CI
C)
1878 004
58.730
575,000 under 5100,000
7094
30,866 153
26.909 084
1,531 123
CI
38,366
86 668
[')
I'l
1 437,897
32.810
5100,000 under 5250000
14,068
95,157,317
87 567,662
5,190190
131999
91,980
182 425
CI
4623
4971408
170.551
5250000 under 5500,000
4 899
59 339 913
58,667 135
3 864 421
I't
58,033
45,062
C)
2547
3,759,211
112.192
5500,000 under 51,000,000
2.275
49,801,551
49,801 551
3 690 738
—
110547
89,108
CI
5,256
3,498,658
108.441
51,000,000 under 510.000.000
1846
209,131 180
194,327 103
11,572,256
■ 253,804
155 541
292859
1.631
40,225
11,075,212
472.260
SIO.OOOOOO under 550,000,000
129
137 103 205
137,103,205
7,755,308
_
95153
1 794 471
lit
18.509
5,919,260
386.945
550,000,000 under 5100,000000
14
34,204,486
34,204,486
2,844.729
—
1 469
33,257
-
5351
2,604,653
50-227
5100,000000 or more
7
52 235 854
52 235,854
3,909,660
—
1343
49,523
—
2,252
3,856 540
29-023
Wittiout total Ian alter credits, total
(*1
fl
f)
(■)
CI
C)
CI
-
Witti net income
1")
1"1
I'l
CI
—
C)
O
_
_
_
_
Without net income
(•)
fl
-
-
CI
-
-
-
-
-
-
Returns with overpayment or with equal tax and
payments, total
254,289
1,623 263 644
1,463 672,892
102,006 331
5,551,524
1,819636
4,986978
24.518
949966
94 528,144
3,590,610
With total la« aller credits total
169,025
1 494 053 398
1,415,377686
tot 051 135
2,141 271
1,250,793
4,701,249
23 759
944 945
94 281,089
3.586,123
Under 56,000
106,930
118272281
82 085,545
1,373,026
976,132
216,761
177,209
CI
fl
1,058 352
6.931
=6,000 under 510,000
12,700
24 546,993
18,332.775
415639
198,988
4,649
26,323
I'l
Cl
398 337
8.414
510,000 under 515,000
10,240
22029,653
18,905,724
462912
54,979
28,052
20,167
CI
Cl
417382
11.773
315,000 under 520,000
5,855
16 067,172
13,254,245
330,529
143,740
13523
1 7,964
CI
Cl
302 962
6.599
520,000 under 525,000
3953
15,003316
11,901,586
285,098
46,043
8 688
7,104
c
272 488
10.002
525.000 under 550,000
11,105
48 352,700
36105,121
1,080,306
370,017
23 427
33574
Cl
Cl
1030 170
30.403
550,000 under 575,000
4,659
28,770 055
24468,447
816,411
C)
27 053
67,017
r\'
Cl
756,363
23.667
575,000 under 5100.000
2,782
20,293 875
18 739,304
635.373
CI
11299
19,270
C)
605 044
19,439
5100,000 under 5250,000
5682
67,206,122
65,547,930
2,440.137
148,640
164,872
86,456
Cl
Cl
2.178.218
76,724
5250,000 under 5500 000
2096
51260 150
47 777 076
1.861.290
CI
74 101
42 501
CI
3,281
1739.917
65.213
5500.000 under 51,000,000
1 237
91 390 707
89 047,984
25177216
34 241
98,799
67 363
1')
60 998
24 947.290
132.013
51,000,000 under 510 000 000
1,435
325 879,772
324 211,347
13.565138
25316
384.263
408,043
7660
28.714
12.730.959
769.260
510,000,000 under 550 000 000
293
354 053 775
354,053 775
23,646 430
—
195 355
1,703,412
5 587
210397
21 530.240
1.323,684
550,000,000 under 5100000,000
36
96 079 497
96 079 497
8,714,317
~
1,536
141,762
362
195.276
8.375.385
343.205
5100,000,000 or more
22
214.847 330
214,847,330
20,247 311
1,415
1,883 084
313
430 298
17,937,982
758.796
Without total tax after credits, total
85.264
129.210246
48,295,206
955 196
3,410,253
566,843
285 729
759
Cl
247 055
4.487
With net income
32,692
48.295,206
48 295,206
955196
—
568,843
204,247
22
Cl
247018
4.48'
Without net income
52572
80,915,040
-
-
3,410,253
-
81,482
737
-
Cl
-
Returns with neithei la* alter creOils nor taxpayments, total
735,027
254 929 751
90019,871
5617,956
14,282 803
2.477 873
422,041
Cl
Cl
509 593
3.464
Witti net income
187 932
90 019 671
90019871
5,617 956
—
2.477 873
229.056
Cl
Cl
509 586
3 464
Wittiout net income
547095
164 909 880
-
-
14,262 303
-
192985
f)
I'l
Returns with no lax after credits with estimated fax
payments equal to letund and no other taxpayments
3 175
14612348
1,661,200
21445
458,920
CI
44 857
Cl
-
4323
n
Returns showing refunds of estimated fax payments total
10,219
329 554,127
249,052,692
6,594,434
2,119 780
154 399
643924
9422
27 554
6 105 041
825.669
Wittt refunds equal to 1973 overpaymenis claimed as
a credit plus 1974 estimated tax paymer-ts total
4 154
98 509 207
48.767,207
747.068
1490,500
11 546
392 560
Cl
fl
609,633
197.178
With total tax atler credits
718
77 995,474
46.810844
722753
822,021
9325
343 730
C)
fi
603,603
196.315
Without total tax attei credits
3436
20 513 733
1956.363
24,315
668 479
C)
48 830
C)
I'l
6,030
863
With refunds not equal to 1973 overpayments claimed
as a credit plus 1974 estimated tax payments, total
6.065
231044 920
200 285185
5,847,366
629,280
142.853
251,364
3 466
25 337
5 495408
628.491
With total tax alter credits
5,504
226,686,385
198 926.305
5,830.639
567 057
138 942
242,363
3 466
24 153
5 488 886
628 428
Without total tax aller credits
561
4 358 535
I 359,180
16.727
62223
CI
9 001
-
Cl
6 522
fl
Small Business Corporation returns Form 11205
333,099
123 143 669
98862126
5 668 867
2,119 036
-
-
-
-
15 1S1
14 299
Footnoles at end of table See lext lof 'Explanation ot Terms' and Descfiplion ol ihe Sample and Limiialion;, oi ihe Data
Corporation Returns/ 1974
115
RETURNS OF ACTIVE CORPORATIONS
Table 14.— Taxpayments: Number of Returns, Net Income, Special Deductions, Income Tax, Credits, Taxpayments, Tax Due or
Overpayment, by Taxpayment Status, by Size of Total Tax After Credits— Continued
jAll (igu-es
are estimates based on samp
es— money amounts are III 1h
usands ol dollais]
Income tai t>efore credits
Foreign
at credit
Typ* ol rtlurns, size of
rotal tai after credits
Total
Normal tax.
sunai. and
alternative fai
Tax from recomputing
prior year
investment credit
Tax from recomputing
prior year work
incentive (WIN) credit
Additional tsi
tor lai preferences
Number of
returns
Amouni
Number of
returns
Amount
Number of
returns
Amount
Number of
returns
Amount
Number of
returns
Amount
112)
(131
1141
1151
1161
117)
(18)
(19)
(20)
(211
(22)
Total active corporation returns
66.112.989
871.869
65.586.637
96.387
179,121
438
438
446
4,575
4,572
346,785
346.734
6,960
6 960
20.752,819
20,752 819
Returns other irian For-ris 11205 antj 1120 DISC, total
66.108.421
871550
65582120
96 387
179121
446
Returns with la« due at ttme ol tiling total
21.469.376
622.665
21 321 769
65636
63,284
236
266
2,564
84,057
3 666
1.39t 354
With total tax altei credits, total
21.469.376
622.665
21.321.769
65.636
63,284
236
266
2.564
84.057
3 666
1 391 354
Under Se.OOO
804.731
461.998
794.832
35.174
9143
48
12
438
744
1 740
6,205
S6,0OO under SIOOOO
300.092
36.291
296.860
4668
2,872
(•)
C)
104
360
76
6,060
SIC 000 under 515 000
331 699
25.621
328 747
3184
2,374
CI
C)
79
578
128
1 829
515.000 under 520.000
303.297
16.691
300.450
2,331
2309
CI
C)
56
528
til
354
S20.000 under 525.000
265.271
11.197
263.525
2,007
1207
C)
C)
87
539
('I
CI
20.607
S25.0O0 under 550.000
1.044.678
27 810
1039 005
5106
3.114
C)
C)
501
2.556
205
550000 under 575000
819.991
12794
814.252
2926
2.904
C)
C)
292
2.835
92
5915
575.000 under 5100.000
646 433
7 078
642141
1.834
1810
C)
C)
193
2,466
117
6,083
5100.000 under 5250 000
2-264.668
14.039
2.269.388
4 200
7,652
C)
CI
464
7.606
266
34,602
S25O.00O under 5500,000
1765215
4892
1.754 424
1962
3.857
C)
CI
181
6,931
202
10 383
5500.000 under 51.000.000
1 654 848
2272
1.645 802
1028
2 995
8
6
83
6,045
186
12071
51.000.000 under SIO.OOO.OOO
5.251817
1643
5219.389
1092
11 723
14
36
75
20.669
409
437.703
510.000.000 under 550000.000
2.802.589
128
2.770 104
105
5075
5
27
8
27 383
79
191,282
S50.000.000 under SIOO.000.000
1343921
14
1337.074
12
2.031
(■)
C)
CI
1*)
10
267,424
5100000000 or more
1.850 136
7
1845 776
7
4218
CI
C)
7
390,779
Without total la> alter credils. lolai
~
—
—
—
_
_
_
With net income
—
_
_
—
_
_
_
_
_
_
Without net income
-
-
-
-
-
-
-
-
-
-
-
Returns with overpayment or with equal ta> anrl payments lola
44 461 015
190 938
44.082 321
11, 7K1
115.837
202
180
2.008
2b2 i,77
3.073
19.245.933
With total tax after credits, total
44380.796
163.462
44 002102
30-51
115.837
202
180
2,008
262 677
2713
19,199,710
Under 55.000
263.085
101.768
259 302
16,013
3 460
98
15
254
307
425
16.641
56.000 under 510.000
126.102
12.495
123.257
1999
2.521
(■)
CI
66
292
58
18.370
510.000 under 515.000
143.957
10.190
142.431
',910
1.290
C)
C)
50
233
56
7,610
515.000 under 520.000
112.791
5.827
111.426
938
848
C)
C)
124
514
153
3.669
520.000 under S25.000
108.102
3,936
107.244
922
631
90
227
37
11 555
525.000 under 550000
426.930
11.057
422.976
2526
2 562
C)
C)
335
1390
167
8 434
550.000 under 575.000
333.814
4.645
330.397
1,099
1249
CI
C)
225
2,165
93
23.969
575.000 under 5100.000
273.970
2.779
270 366
703
2154
C)
C)
169
1.450
68
16,896
5100.000 under 5250000
1.009.517
5.660
997 083
1,695
4.667
CI
C)
359
/,760
263
76316
5250.000 under 5500.000
821.218
2.090
810.646
821
3.487
CI
CI
135
7,078
223
31,808
5500.000 undei 51.000.000
11.957.686
1.234
11.943.298
643
5026
6
6
88
9,354
250
11,011.860
51.000.000 under 510 000 000
6.036.302
1.430
5962426
963
24955
17
uu
86
4P IJ.09
633
1 023 454
510 000.000 under 550 000 000
10 247n7f.
293
10.091839
262
29 057
6
22
29
126.153
232
3,055,547
550.000.000 under 5100.000.000
36
3 956 734
36
9 250
„
_
36 491
34
1.328.540
5100.000.000 or more
22
9.472673
21
24 6'8
5
51
4
20.369
21
2563,041
Without lolai tax alter credits, total
27476
80219
—
—
—
_
_
360
46,223
With net income
27.475
80 205
—
—
_
_
_
_
360
46,223
Without net income
.*)
CI
ft
-
-
-
-
-
-
Returns with neilhei tax allei ciedits not taxpayments total
176.774
57 710
176.774
_
_
_
_
_
_
212
115,232
With net income
176773
57.708
176,77?
—
—
_
_
_
_
212
115,232
Without net income
n
(■)
ft
-
-
-
-
-
Returns wilh no tax after credits, with estimated tax
payments equal lo refund and no other taxp3r~fi i-.
1256
^'1'
1256
-
~
-
-
-
-
1')
CI
Returns showino rot "'■i :.i eslmi^teo tax payments total
2 -■*1 -211
5 672
2 754,438
2 906
29 4 73
32
69
18?
10.840
423
671.875
W'l- "■ -.3 equal tu '373 overpayments claimed as
a -ledil plus 1974 eslimaled lax payments, lotai
265 22-
464
255,321
574
4.687
C)
C]
37
5,212
29
247,854
With total lax alter credits
263 ?ft6
206
253,486
574
4687
CI
(•]
37
5,212
18
247,095
Without total lax alter credits
1835
258
1,835
-
-
-
_
(')
C)
With refunds net equal 10 1973 overpayments claimed
as a credit plus 1974 estimated lax payments total
2.529.599
5 208
2,499 117
2 332
24 786
24
68
150
5,628
394
424.021
Wilh total tax alter ciedits
2527 127
4 961
2 496 645
2 332
24.786
24
68
150
5,628
380
422,458
Without tolai tax allei credits
24^2
227
2-472
-
-
-
-
-
(■}
CI
Small Business Corporation returns. Form 1120S
4.568
319
4517
-
-
-
-
1*)
(■)
-
-
Foolnolesat endol i.ible See text tor ' E«planation ol Terms' and Descnpiion ol Itic Sample and L'milalions o' the Dala
116
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS
Table 14. — Taxpayments: Number of Returns, Net Income, Special Deductions, Income Tax, Credits, Taxpayments, Tax Due or
Overpayment, by Taxpaymenf Status, by Size of Total Tax After Credits— Continued
|AII ligures
aw esi,males based on samples- mjney amounls are in thousands of dollars!
Investment credit
Wortr incentive
(WIN) credit
Income tai
alter credits
Personal
Hoidmg
Company
tax
Taxpayments
Type ot returns, size ol
total lax after credits
Numlier of
returns
Amount
Number ot
returns
Amount
Total
Normal tax,
surtax,
and alterna-
tive tax
Total
net tax-
payments
Estimated tax payments
Net
total
1973 overpayments
claimed as a credit
Number of
returns
Amount
Number of
returns
Amount
1231
1241
1251
(261
(271
(281
(291
(301
(31)
1321
(33)
1341
533,947
4,221,364
4,229
7,795
41.130,991
40,604.639
1.794
36.130,894
481.744
27.906.050
102.220
1.290,295
Returns ottier than Forms lt20S and
1120-DISC, total
533947
4 221 384
4 229
7795
41 126,423
40 600 122
1 794
38 128 198
481 744
27 906 050
102 220
1-290 295
Returns with tax due at time ot tiling, lolal
344,814
1 188,210
2,657
3328
18686,484
18 738,977
1,406
13,151847
258 376
10 256 056
43014
345,903
With tola! tax after credits, total
344,BI4
1 188210
2,657
3328
18 886 484
18736,677
1,314
13,151,843
258 376
10 256 056
43014
345,903
Under S6.000
218,223
100 099
1,281
782
697,645
687,746
150
180,270
131218
139 384
18902
18,472
S6000 under StOOOC
25,871
30 383
120
78
263,571
260 339
—
96,902
22 987
76421
3 861
7578
SIO.OOO under S15l»0
17,426
25 937
CI
C)
303,874
300,922
CI
131567
18,776
105 369
3 474
8,782
StS.OOO under $20,000
12202
19,866
CI
C)
282,995
280156
CI
126,689
13325
107411
2.377
9,306
S20 000 under 525,000
8,948
18100
CI
CI
247074
245,328
CI
120 013
8,982
103.120
1.907
8,056
S25.0OO unde. 550.000
23,013
54 305
114
101
%9,665
963,992
CI
532 291
23,687
447433
4617
25,278
S50000 under 575.000
11,202
32,795
135
122
781 159
775,420
CI
453368
11 494
392.516
2-359
23,399
575.000 under 5100.000
6,239
28,878
95
105
611367
607,075
-
357 568
6 301
307.823
1 176
15 258
SIOO.OOO under 5250.000
12,876
86770
307
412
2 162,884
2 147 604
CI
1,337615
12,883
1.133 934
2.561
53,267
5250000 under 5500.000
4,679
67 251
105
137
1 687 444
1,676,653
CI
1,101 026
4 644
924594
899
34,128
5500,000 under 51 000,000
2 192
64 808
88
134
1,577635
1 568,789
CI
1062 663
2,163
867750
4S0
28,997
51,000,000 under 510000,000
1 794
27991C
136
460
4 533,744
4,501316
—
3,345818
1 769
2573 704
378
62,470
510,000,000 under 550000,000
128
206 681
35
151
2,404 475
2,371,990
—
2 049 709
124
1484 726
28
18,562
$50,000,000 under 5100,000,000
14
61 531
5
32
1,014,934
1,009,087
—
938446
14
613 446
3
4112
5100,000,000 or more
7
110 896
4
643
1,347,818
1,343 456
-
1 315,878
7
978.425
CI
CI
Without lolal lax alter credits total
-
-
-
-
—
—
CI
CI
—
—
—
—
With net income
—
—
—
—
—
CI
—
—
—
—
—
Without net income
-
-
-
-
~
-~
(■)
CI
-
-
-
-
Returns with overpayment or wilh equal
lax and payments lolal
13- 301
2 970,716
1,508
4427
22 239,939
21861245
388
24,976,351
223,368
17.649.994
58.242
927,621
With total lax alter credits lolal
104 052
2 936 799
1,441
4,348
22,239,939
21,861,245
296
24 732 815
154,503
17 435.181
37.635
879 424
Under 56,000
52,922
55 186
337
404
190 854
187,071
CI
456 617
94,438
409 687
22.261
65-991
56,000 under 510,000
9.203
15,655
CI
CI
91 964
89 119
C)
166,839
12180
156603
2.962
18,118
510000 under 515000
7,774
15,751
147
142
120,454
118 926
CI
200 916
9,879
183 168
2.369
20,011
516,000 under 520,000
4,471
11,293
CI
CI
97 776
96,411
—
157 189
5652
145815
1.534
16 624
520 000 under 525 000
3333
9,834
CI
CI
96 617
85759
—
132,229
3,667
123240
629
10155
525,000 under 35000C
9,477
33 029
120
114
385 354
381 402
CI
543 822
10,825
501393
2.439
41 580
550,000 unrier 575,000
4,164
23.994
21
55
265 796
282,379
CI
373,849
4,503
336.508
1.169
23986
575.000 unde- 5100 OO'l
2 438
18293
30
39
238742
235,138
-
302,274
2,709
270605
649
18,128
5100 000 under $250,000
53,->8
62629
101
114
868 458
856 024
CI
1 ,063 533
5 508
923.007
1 532
55,178
5250,000 under 5500 000
1 994
58 456
96
171
730773
720,201
CI
867,390
2010
711372
632
38,295
5500,000 under 51 000,000
1 190
61 922
97
190
863,714
849326
CI
999,123
1,196
798 781
406
39 027
51 000,000 under S10,000',)00
1410
636 438
232
1,376
4 373,034
4299,160
CI
4 903,756
1,391
3521 174
651
206 502
510000,000 undsi 5J0 00O0C0
290
938 795
112
712
6,252,022
6,096,785
—
6,636327
266
4 422 301
167
216 164
550,000,000 under StOOOOOOOO
:6
268 353
19
245
2405 337
2,359,5%
—
2 506 947
36
1 475.306
23
43 120
5100,000,000 01 norf
72
705,lri2
14
524
5 249 044
5,203,946
5418004
22
3 456 021
12
66,545
Without lolal lax alter credits total
27 245
33917
67
7t
-
—
CI
243 536
68 865
214613
20.607
48197
With net income
27 246
33903
67
79
—
—
CI
88,673
24 317
75 006
6502
14,520
Without net income
;•)
(■)
-
-
-
~
CI
154,863
44 548
139 807
14.105
33677
Returns wilh neither lax alter credits
nor taxpayments, total
57 601
61 502
CI
CI
~
~
-
—
-
-
—
—
With net income
57 539
61 501
CI
C)
—
■-
—
—
—
—
—
—
Without net income
("1
CI
-
-
-
—
~
—
-
~
-
Returns with no tax allei credits, with
estimated lax payments equal to relund
and no other taxpayments
231
956
-
~
^
~
"■
-
~
~
964
16771
Returns showing refunds 01 estimated tax
payments, total
5 028
377,587
143
743
1,744615
1 704,233
CI
1,948,584
6 065
1576.172
2892
193110
With relunds equal to 1972 overpayments
claimed as a credit plus
1974 estimated lax payments, total
420
3,721
CI
CI
13645
3 745
—
7,549
—
—
1.326
34,749
With lolal lax alter credits
170
2645
CI
CI
13645
3745
—
7,015
—
—
266
16,393
Without lolal lax alter credits
250
1 076
-
'
-
534
-
-
1.062
18,356
With relunds not equal to 1973
overpayments claimed as a credit plus
1974 estimated lax payments, lolal
4608
373,866
142
742
1 730 970
1 700488
CI
1,941,035
6,065
1876 172
1.564
158,361
Wilh total tax alter credits
4,386
372,973
138
726
1,730,970
1,700 489
CI
1,935,385
5504
1.870.571
1,326
154,712
Without total tax alter credits
222
893
C)
CI
-
-
CI
5,650
561
5.601
236
3,649
Small Business Corporation returns. Form
11205
4 568
2 696
Foolnoles at endoi table See ie«i lof EKpianation ot Terms and Descnpiion ol the Sample and Limitaiiuns ol the Dala
Corporation Returns/1974
117
RETURNS OF ACTIVE CORPORATIONS
Table 14.— Taxpayments: Number of Returns, Net Income, Special Deductions, Income Tax, Credits, Taxpayments, Tax Due or
Overpayments, by Taxpayment Status, by Size of Total Tax After Credits— Continued
Type ol returns, size o(
total tax after credits
Total returns of scttve corporatton
Heiu'ns olfier than Forms 1120S and
11200ISC, lolal
Relurns with ia> due ai lime ol liiir>9. tolal
With loiai lax alie' crediis total
Under S6.000
56,000 under SiOOOO
SlOOOO under 515,000
515,000 under 520,000
520,000 under 525,000
525,000 under S50 000
550 000 under 575.000
S75,000 under 5100,000
SI 00,000 under 5260000
5250,000 under 5500,000
S500 000 under Si 000 000
51000.000 under SI 0,000,000
Si 0,000,000 under 550,000,000
550,000,000 under SlOO,000,000
5100,000,000 Of more
Wrihoul total lai alter credits, loIai
Willi net income
Wdhoul net income
Reiuins wdh overpayment or with equal ta"
and payments, lolal
With total lax alter credits, lolai
Under 56 000
$6,000 ur^dei 510,000
510,000 under 5 15,000
Si 5,000 under 520,000
520,000 under S2S 000
S25.000 under 550000
S50.000 under S75000
575.000 under 5100.000
5100000 under 5250000
5250,000 under 5500,000
5500,000 under 51.000,000
51,000,000 under 510.000,000
510,000,000 under $50,000 000
550,000,000 under 5100,000 000
SI 00.000,000 or more
Wilhoui lolal tax atiei credits, total
With nel income
Without nel income
Returns wilh neither tax alter credits nor
laxpaymenls. total
With net income
Without net income . . .
Returns with no la» alter credits, with
estimated ta> paymenis equal to refund
and no other taxpayments
Returns showing relunds ol eslmaled tax
payments, total
Wilh retunds equal to 1973 overpayments
claimed as a credn plus
I97d estimated lai payments, total
With total tax alter credits
Without total tax after credits
With relunds not equal lo 1973 overpayments
claimed as a credit plus
197J eslimaied ta> payments, lolal
With lolal ta> after credits
Without lolal tax after credits
Small Business Corporation returns Form
1120S
iigures aie eshmait^s bast'd on sdrnpies-money amoLjnis are m ihousands o' doilarsl
Taipayments— Continued
Estimated tai paymenis— Conttnued
1974 esttmated
tax paymenis
439,146
240.221
240,221
119 730
21 416
17 574
12,545
6,300
22 398
11.059
6 113
12.525
4 543
2 125
1 746
124
14
2 905
9 654
3,770
619
3,151
5.414
470
27,944 938
to, 194 790
10194,790
167.731
77.621
101,978
106 330
99,583
445 689
404 167
298,321
1. 120,32
908 863
845 209
2 559 457
1462,007
627.226
950.187
Less Refund ol
estimated lax paymenis
96.020
17.669.594
4258a
17 462.067
84,482
450.92C
11 536
164.065
9,374
18750!
5,470
152.48(
3,790
121 14C
10596
609 162
4390
349 23!
2.660
271.728
5,416
942.933
1.972
732.711
1 182
823 387
1372
3.562619
266
4 348.631
36
1.439 35S
22
3.406.177
53 436
207.527
19901
69.630
33 535
137.897
293618
191 811
2718,872
2698.609
20.263
1.307
1307
5737
4.915
1.727
3 175
10 215
4 154
718
3.436
1.329 425
284.769
284 769
47.131
6.851
5,112
8,181
4,607
23 691
35,042
5 784
39.594
18.372
6.446
48.225
15.841
947.372
906.261
107.236
25.46
24.213
23.347
8 053
49.313
36.705
19.247
75 105
59 613
63.638
247.957
142.500
CI
CI
41111
9.236
31875
97 264
1329.425
32B.262
208 196
130 066
1.001.163
962 834
18329
Credit lor lai
on special fuels.
nonhighway gasoline.
and lubricating oil
Number of
returns
12 427
12.423
4,521
15.846
7.859
3.249
3067
4.920
9,646
9642
572
2 616
1.455
26.956
22.743
1650
495
772
4.966
7.770
1,339
2.295
4.213
1.269
2.944
Credit for tai
paid by regulated
investment companies
Number of
returns
1.507
1.029
478
1,583
1 583
193
193
CI
with applications tor extension
of filing time
First eitenslon
Number of
returns
1.390
1.199
CI
CI
C)
(•)
I'l
120.978
75.266
75266
38,078
6.349
5516
3.196
2 141
6.705
3.165
1.833
4,287
1802
1024
1.058
92
14
6272.598
2.282.506
2.282.506
39.475
19.087
24,749
19991
16.219
61.112
57.610
46.375
193,335
164,005
180.604
662.865
366,41
207 450
203210
Second extension
Number of
returns
45712
3.990 092
34.018
3.969,072
20 154
40 05;
1.984
9.26;
1.868
13.944
828
9,35C
659
6137
2.209
30.821
1.093
25.604
705
21455
1760
88.072
879
95.455
618
114.391
952
756.09!
255
1. 158,56!
33
544 39(
21
1.055.45!
11.694
21.02C
6.621
10.402
5.073
10618
3468
3418
50
39.318
39318
Foolnoles at end ot table See lex for Explanation 01 terms and Description ot the Sample and Limitations of ttie Data
4.181
4.181
1.605
603.446
603.446
995
668
1,281
1 105
467
3 331
2825
2.924
9,517
11.754
13.755
106.493
197.109
117.268
133.954
-
~
12.316
3.307.919
10,654
3.304.620
3.573
5.012
678
2.466
748
3.554
270
1.717
293
2,727
1064
11,137
547
11.183
370
9.409
1002
51060
563
60.005
455
85.060
803
621.483
237
1.049,673
31
485.904
20
904.230
1.662
3.299
678
1,963
984
1,336
55
25184
CI
CI
CI
CI
CI
CI
33
22,616
33
22.616
CI
CI
118
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS
Table 14.— Taxpayments: Number of Returns, Net Income, Special Deductions, Income Tax, Credits, Taxpayments, Tax Due or
Overpayment, by Taxpayment Status, by Size of Total Tax After Credits— Continued
|AII tiguffs
dfe eslimatt's based on idmples— monty amounts ate m Ihi
usands ot doN^
rs|
Tax due
a1 lime
ot tiling
Tax ovefpayment
Returns showing equal
lai and payments
Type of returns, size ol
lotal tax after credits
Total
Credited to 1975
estimated tax
Refunded
Partially c
partially
or not
edited and
efunded,
stated
Number ot
returns
Amount
Number of
returns
Amount
Number of
returrts
Amount
Number of
returns
Amount
Number of
returns
Amount
1^7)
(48)
(49)
150)
(51)
(52)
(53)
(54)
(55)
(56)
157)
Total active corporation returns
5,723.MB
239.439
2.739.856
123.372
1.236.145
76.619
785.655
39.448
718,056
20,591
B25.370
Returns other than Forms 1I20S and 1120-DlSC lolal
5 719.966
233 757
2 737 698
123 372
1236.145
76.619
785 655
33 766
715.898
20,532
824 833
Returns with lai due at lime oi lilmg. total
5 719,966
_
-
_
_
_
_
_
_
_
_
With total 13> alter cedils. lolal
5 719.878
—
—
—
—
—
—
—
—
—
_
Under S6,000
496 966
—
—
—
—
—
—
—
—
_
S6.000 under S10 000
167218
—
_
—
-
—
—
-
-
-
—
SIO.OOO under S15.000
172.525
—
—
—
—
—
—
—
—
—
_
515,000 under S20,000
154.895
—
—
—
—
_
—
—
_
—
_
520,000 under 526,000
127.566
—
—
—
—
—
—
—
-
-
—
S25.0O0 under S50.000
437.750
—
—
—
—
—
—
—
—
—
—
550,000 under 575,000
328 269
—
—
—
—
—
—
—
—
—
—
S7S,000 under 5100,000
254 220
-
-
-
-
-
-
-
-
-
-
5100.000 under 5250,000
827,127
-
_
_
_
_
_
_
_
-
_
S250.000 under S500.000
586,847
—
—
—
-
—
—
—
-
-
—
5500,000 under 51,000,000
515 297
~
—
—
—
—
—
—
—
—
—
51,000,000 under 510,000,000
1 188 002
—
—
—
—
—
—
—
—
—
_
SIO.OOO.OOO under 550.000,000
354 765
—
—
—
—
—
—
—
_
_
_
550,000,000 under 5100.000.000
76.490
—
-
—
-
—
—
—
-
-
—
5100,000.000 or more
31.941
—
~
—
—
—
—
—
—
—
—
Without lotal lax atler credits, lolal
1*1
—
—
—
—
-
—
—
-
—
-
With nel income
n
—
—
—
—
—
—
—
—
—
—
Withoul nel income
(■)
-
-
-
-
-
-
-
-
-
-
Returns wilh overpayTienl or wilh equal lax and
payments, lolal
—
233.757
2.737,698
123,372
1,236,146
76,619
785.655
33.766
715,898
20532
824 633
With lolal la> alter crerlits. tolai
_
150073
2,497.050
91.835
1,197.098
31,923
626,828
26,315
673.124
18 952
824 807
Under 55.000
_
93.664
260 102
54,714
66.735
22.103
74 456
16,847
1 18.911
13 266
23 526
56.000 under 510.000
_
11.285
77 154
6.347
23,294
2 223
16,219
2.715
37,641
1415
9.627
SIO.OOO under S15 000
__
9.336
80,359
6,353
25.343
1.169
1 7,024
1.816
37.992
902
9.983
515,000 u"de' S2O.0OO
_
5 342
59.453
3.447
20.201
929
15.134
966
24,118
513
8.607
520,000 undef 525.000
—
3.589
45.630
2,370
14.810
583
8,111
636
22.709
364
7.673
525,000 under 550.000
—
10,042
158,149
6,746
64,916
1,738
27,976
1,568
65.257
1.063
35.842
S50.000 under 575.000
—
4,273
87.702
2.925
40.939
797
t',971
551
28 792
386
23.839
575.000 under 5100,000
-
2 483
53 377
1.745
29.097
392
12 036
346
22244
299
25-262
5100.000 under 5250,000
_
5,248
194.875
3,795
94,518
927
47,510
526
52,74 7
434
64.131
5250.000 under 5500,000
—
1,959
136.476
1.406
71 249
397
31,521
156
33 706
137
47,969
5500,000 under SVOOO.OOO
_
1.168
135 326
838
74.790
255
35,643
75
24.893
69
47512
51,000.000 under 510,000 000
_
1343
530.650
916
212,992
326
186.484
101
131,174
92
246.89B
510,000,000 under 550,000,000
-
283
397,224
199
245,454
64
86.140
20
65,630
10
162.926
550.000,000 under StOO.OOO.OOO
-
34
101.609
20
64.118
13
30.534
(■)
1")
CI
C)
5100,000.000 or more
—
22
168.964
14
148,642
7
19.969
(*)
(•)
—
—
Without lolal la» alter credtis. loial
—
83,684
240 648
31,537
39.047
44.696
158,627
7,451
42,774
1.580
26
Wilh nel income
_
31.113
85 870
14.761
16,092
11.826
42.373
4 526
27.405
1.579
25
Wilhoul net income
-
52,571
154.778
16 776
22.955
32,870
116 454
2,925
15.369
C)
C)
Returns with neither ta> alter credits nor latpavmenls,
total
With nel income
-
-
-
-
-
-
-
-
-
-
-
Wilhout nel income
-
-
-
-
-
-
—
~
-
"
-
Returns wilh no ta* alter credits, wilh estimated lax
payments equal to letund and no other taxpayments
-
-
-
'
~
-
-
~
~
-~
~
Returns showing refunds of eslimated la» payments, total
18,562
4 567
222.380
2.458
72.8B8
1,590
90.314
519
59.176
\ 170
36.252
Wilh refunds equal to 1973 overpayments claimed as
a credit plus I97d estimated la« payments, total
7.018
382
932
40
71
323
651
CI
CI
35
674
With total ta- alter credits
7.018
121
395
31
67
81
312
(*)
C)
35
674
Without lolal tax alter credits
-
26t
537
9
4
242
239
(■)
(■)
-
-
With relunds nol equal to 1973 o^rerpayments claimed
as a credit plus I97ii estimated lax payments, total
11,544
4.185
221.448
2.416
72,817
t 267
89.763
500
58.668
1,135
37.576
With lolal lax alter credits
11,544
3,674
215,871
2,135
72.285
1.094
85,534
445
58 052
1,085
37.566
Without lolal lax atler credits
-
511
5.577
283
532
173
4.229
55
816
CI
C)
Small Business Corporation returns. Form tl20S
4 032
5.682
2.156
-
-
-
-
5.682
2.158
C)
C)
(■) Estimate is nol shown separately because ol Ihe small number of sample relurns on which il was based However, the data are included in Ihe appropriate totals
■ Less than S500 per return
NOTE Credits include foreign lax, mveslmenl, and work incentive (WIN) credits
See text lor 'Explanation ot Terms" and "Descnption ol the Sample and Limilalions ol the Data '
Corporation Returns/1974
119
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 15.— Number of Returns, Net Income, Income Subject to Tax, Income Tax, Credits, Payments, and Tax Due and Overpayment, for
Total Returns and Returns With and Without Estimated Tax Payments, by Size of Income Tax Subject to Estimated Tax Payments
jA,; tigufes a'e ebiimaies baseo on ■ijmpies— mpnc-y amounis dfe m ihQusdnds qI dolij^'^i
Type of returns, size ol income lax
subfeci to estimated tai payments-
Number of
felurns
Income
subject
to tax
Income tai
Normal lai,
suHai, and
alternative
Ta» from
recomputing
prior year
investment
credit
Tai from
recomputing
prior year
work incen-
tive (WIN)
credii
Additional
tai lor lai
preferences
Total Active Corporation Returns Other Than
Forms I120S and 1120-OISC
Relu'ns wiih nel income, total
Wilh r^ormal Ian, Suriai. and allernalive la>
before credits, loiai'
With income lax subieci lo estimated lai
payments, lolal'
Under S6.000
S6,000 under 510,000
SlO,000 under SlSOOO
SI 5.000 under S20 000
S20.000 under S25.000
525,000 under 550,000
SSOOOO under 575,000
575,000 under 5100 000
5100.000 under 5250,000
5250,000 under 5500,000
5500.000 under 51,000.000
Sf 000,000 undei SlOOOOOOO
510,000 000 under 550,000,000
550,000,000 under $100,000 000
5100,000.000 or more
Wilhoul income lax subject to eslrmaled
lax payments
Without normal tax. surtai and alternative
ia> before credits
Returns without net income
Returns With Estimated Tax Payments
Oelurns with nel income, total
With normal tax, surtax and allernalive la«
before credits, total'
With income lax sub|ecl to estimated la*
payments lotal'
Under 56 000
S6.000 under 510,000
510,000 under 515.000
515 000 under S20.0O0
520 000 under 525.000
525.000 under 550.000
SSOOOO under 575 000
575.000 under 5100,000
S100.000 under 5250 000
5250,000 under $500,000
5500,000 under 51 000.000
51,000,000 under 510,000,000
SlOOOOOOO under 550,000.000
550.000,000 under 5100.000 000
5100,000,000 or more
Without income tax subjeci 10 estimated
tax payments
Without normal tax. surtax and allernalive
la« before credits
Returns wilhoul nel income
Returns Without Estimated Tax Payments
Total
Returns with nel income, lolal
With normal tai, surlax and alternative lax
Before credits total'
Wiih income tax subjcci lo eshmaied tax
paymenis, total'
Under $6,000
56,000 under SIO.OOO
S10.000 under $15,000
S15 000 under 520,000
520 000 under 525,000
525,000 under $50 000
S50.000 under 575,000
575.000 under SlOO.OOO
SlOO.OOO under 5250.000
5250.000 under $500,000
5500,000 under $1 000,000
51,000,000 under 510,000,000
510.000 000 under $50,000,000
S50 000,000 under 5100.000.000
$1 00 000.000 or more
Without income tax subject to estimated
ia« payments
Without normal tax, surtax, and alternative
lax beio'c credits
Returns without nel income
1.626.334
1 006.36:
871 525
765.955
563,712
48 777
35 806
22 536
15 155
38.864
17410
9,866
19639
6,951
3
3,255
417
48
29
85 570
136.842
617,967
428.929
407 438
220.660
34,972
28,602
'6,937
12.839
34,498
15.971
9.026
18,338
6.619
3,348
29
21,491
3,542
53 427
1,140,436
575 896
442,596
378,517
343.052
13.805
7.204
3599
2316
4.366
1,439
64,079
133 300
564 540
137.506.774
160 552 880
152 346 625
149.161 386
5,265 161
1 529 200
1 781686
1,205,614
1 124187
3,704,104
2 695 732
2,112,875
7 539 365
5 721549
28.895.846
24 216.885
28 289,091
10921 120
24,156,971
3,185,239
8206,255
-23 046 106
139.064.434
143 759,025
141 811 962
141 425 544
2 782 886
1 060,056
1 441,251
975.568
933 935
3 184 587
2 426.287
1.899 694
6,968979
5 353 470
28 530 972
22 886 350
27 893 418
10921.120
24 156 971
386 418
— 1.557.660
16,793,655
10,534,663
7,735,842
2.482,275
469 144
340,435
230,046
190 252
5I95I7
269.445
213 181
570.386
358 079
364 674
1 332.535
395.673
2 798 821
6,259 192
-18351.515
143,967.362
143 964,823
143964.823
142 039 229
4 766 952
1 454 542
1 71545
1 152 352
1,030891
3 569.726
2 600,988
2 041862
7 134 969
5.503 012
26 609,773
23 1 76 785
26 919 938
10 565 464
21 794 522
1 925 594
135.703.361
135 701369
135 701.369
135 381063
2,635.599
1,035 933
1 406 276
949,593
857 758
3,106,156
2367 220
1654,816
6,652,041
6 203.273
28 306,954
22,029,813
26 615 665
10565464
21 794,522
320 286
8.264.001
8.263 454
8 263,454
6,656,146
2,131,353
416,609
309,175
202,759
173 133
463,572
233,768
167.046
482 928
299,739
302 819
1 148.972
304,273
Foolnotes al end ol table See leil (or Explanation of Terms and Description of Ihe Sample and L
66.108.421
66,072.856
66,033.327
65 176 433
1 129,832
420 628
612.746
420 177
395 785
1,469.766
1 133 552
916.965,
3264769
2 583,049
13,666,319
10997,339
12 736 265
5 039,3
10,367,907
856 894
39,53
35.563
62.934,512
62,915,195
62,889,675
62 763 563
649.882
302 301
512,311
345,569
326 925
1 280 069
1.031.34
833812
3.066 102
2445.701
13,526.150
10,445.094
12.569,065
5 039,314
10,367,907
126.312
25 320
3,173.909
3,157,563
3.143,452
2 412 870
479,950
118 327
100.435
74 608
66 860
189.697
102,211
63,153
218,687
137,346
140.169
552.245
149.180
730.582
14,211
16,246
65.SB2.120
65 580 982
65,580.962
64 765 144
M20615
417,575
606,850
416,682
390,206
1,462.665
1 128.026
911,025
3 260,961
2 564 713
13,636 192
10913.015
12 615 325
5 000 445
10316449
615.838
62,515.319
62,514,433
62,514.433
62 390 062
645 141
300,313
507 682
343,556
324 070
1 27d.861
1,026795
628,393
3 044,455
2,429,109
13499232
10,377,726
12,469,635
5,000,445
10.318.449
124 371
3.066.801
3,066,549
3,066,549
2,375 062
475,474
1 1 7,262
98,968
73,326
66,136
186,004
101.231
82,632
216,506
135 604
138,960
535 269
145 690
(7)
179.121
1 56,256
154 360
154 360
5.977
2675
2 766
2019
1.310
3866
2,334
3,076
9 291
6,438
7 536
31,933
34 465
10 776
28 896
1,896
22 665
15B.7S5
144 623
143,686
3,004
1 772
1,627
1,673
978
3 260
2,073
2.734
8 469
6 146
7 162
30,993
34 425
10,776
26 696
20,336
n 633
10472
3.973
1 139
446
1 161
8 703
346,734
335 202
256 520
2 226
346
3,127
1,273
4,269
3032
3,169
2846
14.510
II
20.576
52 347
68 426
26 092
20 369
41056
37 626
11.532
259.996
255 731
229 209
1 729
184
2,799
437
3,877
1,945
2,470
2.670
13,151
10436
19743
36 331
84 976
28 092
20.369
t 941
86.738
79471
20,752,819
20,752,619
20.034,592
89 541
21540
144 526
8 153'
29 759
27,706
10,322
18,899
103,926
39,630
11,070082
1.146,655
2,938,917
1,432,014
2,953,820
718,227
19,876.047
19 876,847
19,777,765
60,167
20,216
143.768
3.722
22,33
5.515
7.030
15.148
99,786
34.946
1 1 ,042 609
983 169
2 933 504
1 432 014
2,953820
99 082
875.972
875 972
27 311
256 B27
«99
9 374
CI
n
328
758
836
4,431
392
7 428
1,087
22,191
719
3.292
176
3.751
1359
4142
1452
4 684
935
27 473
16 016
162 466
3 450
5,413
39 115
619 145
13 045
_
imitations ol the Data
120
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 15. — Number of Returns, Net Income, Income Subject to Tax, Income Tax, Credits, Payments, and Tax Due and Overpayment, for
Total Returns and Returns With and Without Estimated Tax Payments, by Size of Income Tax Subject to Estimated Tax Payments-
Continued
[All
figures are eslimales based on samples— money amounls aie in Ihousands ol dollars]
Work
incentive
(WIN)
Normal tai
surtax, and
alternative
Income lax
subject to
estimated
Taipayments
Total net
Estimated t
I payments
Type of returns, sue of income lax
subject to estimated tan payments-
Nel
total
1973 overpayments
claimed a^ ^ rrpHii
1974 estimated lax payments
t3x paymenis-
paymenis
credits'
Number ol
returns
Amount
Number of
returns
Amount
Number ol
returns
Amount
(11)
(121
1131
IK)
(151
(161
117)
(181
(191
(20)
Total Active Corporation Returns Other Ttian
Forms 1120S and 1120-DtSC
Total . .
7,795
7.795
40,600,122
40 599131
40,779,689
40 755 805
38,128,198
37 685,212
481,744
431.912
27.906.050
27,693,369
102.220
85 625
1,290.295
1-201 175
439,146
399 022
27.944.938
Returns vwilh nel income, total
27,449132
Wilh normal lax. surtax, and alternative lax
belore credits, lolal'
7 795
40 599 131
40,753,900
37 827 932
428 467
27,674,795
84,139
1-194.299
395,877
27.400.058
Wilti income la* subjecl to eslimaled la-
payments, total-'
7 668
40 599 131
40,753,900
37 707 825
407 235
27,607.266
78,879
1.181,160
377 593
27.330.868
Under S6.000
1,185
874,944
881,933
592,661
220.530
508,168
39,574
64.685
199.513
483.958
S6.000 under SIO.OOO
191
349,676
352.383
260,482
34.938
226.440
6,813
24.274
32 719
221.116
S10.000 under StS.OOO
20 1
419.986
422,755
333741
26,596
285,679
5.802
27.576
26-e«e
275.081
515,000 Ltnder S20.000
125
377 253
379275
281.044
18933
248,385
3875
21.601
17 988
239.805
S20.000 under 525,000
136
331,601
333,111
250428
12837
221,117
2 730
16.927
12,071
211282
525.000 under S50 000
243
1 347,539
1.351.408
1 074,008
34 495
947,579
7,039
58.164
32971
927.388
550,000 under 575.000
142
1,059.982
1,062.319
928,716
15 970
732,260
3512
45.978
15,417
712.634
575.000 under 5100.000
144
846.027
849.121
660,569
9 023
580,932
1,828
32.345
8.783
569,147
SIOO.OOO under 5250.000
527
3 006 193
3015511
2,399,062
18333
2 055,374
4,076
106,069
17,981
2,038,436
5250 000 under 5500,000
308
2 396 761
2403,209
1 963 001
6,617
1,632,983
1.520
71282
6,480
1,635.664
5500.000 under 51,000.000
357
2 419,874
2,427 423
2067.061
3,346
1,670.415
854
71263
3,296
1.672,343
51.000.000 under 510.000,000
1806
8828,687
8,860 664
8,256,253
3 140
6 084 165
1,022
265.135
3 101
6.107,981
510.000 000 under 550.000,000
849
8522,999
8.557.513
8,676,809
410
5.908,925
194
233,826
408
5.833.436
550,000,000 unde/ 5100,000,000
277
3 270,005
3 280 782
3,330,108
48
2.068,400
26
47,232
48
2.045,233
SIOO.000.000 or more
1 167
6 547 404
6 576 493
6 733,882
29
4 434,445
14
94-783
29
4,356,364
Without income la» subiecl to estimated
lax payments
127
-
—
120 107
21232
57,627
5,260
13 139
18284
69,190
Without normal lax. surtax, and aiiernative
tax before credits
-
-
1905
57260
3,445
18.574
1 486
6 876
2,145
49,074
Returns without nel income
-
991
23884
242966
49,832
212681
16,595
89,120
41 124
495,806
Returns With Estimated Tax Payments
Total
6.726
38.838,159
38.997.356
37,351,042
481,744
27,906,050
102.220
1,290,295
439,146
27.944.938
Returns wilh nel income, total
6.726
38 837 419
38 992,450
37 128 351
431 912
27.693 369
85,625
1-201 175
398,022
27.449.132
With normal lax. surtax, and allernalive lax
before creels, lolal'
h 7:'t^
:<9 837419
38 981 711
37,088100
428 467
27,674,795
84,139
1-194.299
395.877
27.400,058
With income lai subject to estimated tax
payments lotai^
Under 56.000
■■^.59
38 837419
38 961 711
37,015434
407,235
27,607,268
78,879
1.161,160
377,593
27.330.868
i-'a
491 084
494 096
539,886
220 530
508.168
39,574
64.685
199513
463.958
56 000 under S10.000
159
252,330
254 134
244 285
34,938
228,440
6.813
24.274
32.719
221.116
510 000 under 515.000
143
335 887
337 517
317,374
28,596
285,679
5.802
27-576
26886
275,061
S1 5.000 under 520,000
125
317112
318,668
268,010
18-933
248.385
3,875
21.601
17,988
239.805
520 000 under S25.000
120
281,427
282 405
241,493
12,637
221,117
2,730
16.927
12,071
211,282
525,000 under 550.000
197
1 201 773
1205,036
1,030.391
34,485
947,579
7,039
56,184
32971
927,388
S50 000 under 575.000
135
972 590
974666
799.407
15,970
732.260
3,512
45,978
15,417
712634
575.000 under StOO.OOO
139
774 399
777 148
639.705
9,023
580.932
1,828
32,345
8 793
569 147
StOO.OOO under 5250.000
459
2814673
2623,169
2.328-897
18 333
2.055.374
4,076
106,069
17881
2,038,436
S250 000 under 5500,000
281
2,280 526
2,286,684
1,907,953
6617
t 632.963
1,520
71-282
6 480
1.635,664
5500.000 under 51.000,000
346
2,321,386
2,328,561
2,016,749
3,346
1,670,415
854
71-263
3,296
1.672,343
51,000.000 under 510.000.000
1.762
8,542 558
8,573 595
6.026.355
3,140
6,084.165
1,022
265,135
3,101
6,107.981
SI 0.000,000 under 550,000.000
849
8 434,263
8 468 737
6,590,939
410
5.908.925
194
233-826
408
5,833 436
550,000,000 under 5100,000,000
277
3 270 005
3 280,762
3,330,108
46
2 068,400
26
47-232
48
2,046,233
5100,000,000 or more
1.167
6 547 404
6576,493
6733 882
29
4.434.446
14
94 783
29
4.356.364
Wtlhoui income tax subject lo estimated
tax payments
(•)
-
—
72.666
21,232
67.527
5,260
13139
16,284
69.190
Without normal lax, surtax, and allernalive
lax belore credits
-
739
40.251
3,445
18.574
1,486
6-676
2 145
49,074
Returns without nel income
-
740
14,906
222 691
49,832
212,681
16,595
89 120
41 124
495,606
Returns Without Estimated Tax Payments
T
1,069
1.069
1,761,963
1,761 712
1.782.333
1-773,355
777.156
756,861
:
:
:
:
:
_
Returns with nel income, lolal
-
With normal tax, surtax, and alternative lax
before credits, loiaf
1.069
1 761 712
1 772 189
739.832
—
—
—
—
—
—
Wilh income ia» subject to estimated ta<
payments, total-
1.029
1 761 712
1 772 189
692,391
—
—
—
—
—
—
Under 56.000
707
383,860
387,837
52 775
—
—
—
—
—
—
56,000 under 510,000
(•)
97,346
98,249
16 197
—
—
—
—
—
—
SIO.OOO under 515.000
(•)
84.099
85,238
16,367
—
—
—
—
—
—
515.000 under S20 000
CI
60,141
60 567
13,034
—
—
—
—
—
—
S20 000 under 525.000
(•)
50.374
50 706
8,935
—
—
—
—
—
—
525.000 under 550,000
CI
145,766
146,372
43 617
—
—
—
—
—
—
550.000 under 575,000
CI
87 392
87 653
29.309
—
—
—
—
—
—
575,000 under 5100 000
CI
71.628
71 973
20.864
~
~
~
~
~
~
5100.000 under 5250,000
68
191 520
192,342
70.165
-
-
-
-
-
-
5250,000 under 5500,000
27
116 233
116,525
55.048
—
—
—
—
—
—
$500 000 under 51 000,000
CI
98 488
98,862
50,312
—
—
—
—
—
—
Sl.000.000 under 510,000.000
4d
286 129
287 069
229,898
—
—
—
—
—
—
510.000.000 under S50.000.000
CI
89 736
68 776
85870
—
—
—
—
—
—
550,000.000 under SIOO.000.000
—
—
—
—
—
—
—
—
—
—
5100.000,000 or more
-
—
—
-
-
—
—
—
—
—
Without income tax subject to estimated
lax payments
CI
—
-
47 441
—
—
~
—
~
~-
Without normal lax. surtax, and alternative
tax belore credits
-
^
1 166
17,029
~
~
~
"
~
~
Returns without nel income
-
251
8978
20,295
-
-
~
"
-
-
Footnotes at end ol table See text tor "Explanalion ol Terms and 'Desctiplion ol the Sample and Limitations ol the Data
Corporation Returns/1974
121
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 15.— Number of Returns, Net Income, Income Subject to Tax, Income Tax, Credits, Payments, and Tax Due and Overpayment, for
Total Returns and Returns Witti and WIttiout Estimated Tax Payments, by Size of Income Tax Subject to Estimated Tax Payments-
Continued
|AII tigurps are eslimales based on samples— money aniOLjnIs are in Thousands ol jollarsi
Taxpaymenis— Continued
Estimated (ai
Credit for
Payments witti applications for extension
payments-
-Contmued
tai on
Credit
of filing time
Tax due
Type Ol returns, siie Of (ncome tai
Less Refund of
estimated lai payments
special fuels.
for 131
at time
of filing
Ta«
sub|pct 10 estimated tai pavments-
nonhtgl^way
gasoline.
paid by
regulated
investment
companies
First eilension
Second eilension
overpayment
Number of
returns
Amount
and
lubricating
oil
Number of
returns
Amount
Number of
returns
Amount
(21)
(22)
1231
1241
1251
1261
1271
1291
1291
1301
Total Active Corporation Relyrns Other Than
Forms 1120S and 1120-DISC
Total
10.219
1.329.425
36.602
1.583
120.978
6.272,598
16.497
3.911,365
S.719,%6
2,737,698
Returns wilh net income total
5 816
957 n t
3t.661
: 418
115008
6 252 850
15401
3 905.914
5.706 809
2 51 7 620
With normal tai. surtai. ana aliemative lai
Oetore credits total'
5,669
919,749
30 095
1,335
113,509
6.231,634
15,263
3.890.013
5.702.242
2,495.507
With income ia< subiect to estimated ia<
payments loial'
5 178
904,856
29,259
1335
106168
6,201,000
14.679
3 868.963
5 701,555
2,419,484
Undet 56 000
t 477
41017
1 19t
12
57 432
77,189
5,123
6101
493.029
216,923
S6.000 under StOOOO
601
16 904
eS4
CI
8,270
28.000
971
3.096
166 276
73.772
SIO.OOO under SlSOOCi
451
16658
402
D
7,344
40,794
1,295
6.961
171985
79.501
SI 5.000 under S20 000
305
13.024
194
("1
3994
29.253
464
2.972
155 009
54.972
520,000 under S?5.000
213
7.179
328
CI
2,796
24414
394
4.551
127.494
40.064
525.000 under S50.000
638
37912
596
CI
8,880
111351
1389
14.478
436 736
155.632
S50.000 under 575,000
294
26332
730
n
4 232
62 766
736
12911
325 746
88.110
575,000 under 5100,000
194
20,589
994
CI
2513
66 135
506
12.358
255.425
63,444
5100,000 unde' 5250 000
471
89068
1520
274
6018
281 409
1290
60495
823 417
190,432
5260.000 under 5500 000
166
73,919
t tst
0
2.661
258 071
698
70 733
596 563
133 888
5500 000 under 51000 000
149
73,185
1273
CI
1.632
295124
537
100.128
5115.467
135 299
51-000.000 under 510000.000
164
288 963
7 449
175
1992
1.425 587
952
738,8^7
1,193993
527 079
510,000 000 under 550.000 000
32
158,341
6 550
14
342
1,522 516
275
1 236,804
351,676
393 464
550.000.000 under 5100,000.000
('1
CI
1563
—
45
699 723
34
560 422
75.909
97.04C
5100.000,000 or more
(•)
I")
2 584
-
27
1.258 668
24
1.039.184
31.941
169,964
Withoul income lax subject to esitmaiec
lax payments
491
14,893
836
—
5,341
30 694
585
21,050
687
77.023
Wiltiout normal ia> surtai. and alternalive
la* beiore credits
147
37 362
1 566
C)
1.499
2' 156
139
15.901
4,567
22.113
flelurns withoul net income
4 403
3;2 314
4 'Ml
165
5 970
19749
1,096
5.451
13,157
220.078
Returns With Estimated Ta« Payments
Total
10.219
1.329.425
29.054
893
61.602
5,720,070
10.055
3-694.975
4.558,959
2,657.566
5616
95; 1 1 1
27,233
883
60 4,'i)
5 713 482
9 959
3 693.384
4,555 292
2 451 154
Wilh normal la«. Surtax, and alternalive la«
before credits loia)'
5669
919 749
27 096
982
60 400
5 701 791
9939
3.693.536
4.554 449
2 435 397
With income ia> subject 10 esiimated tai
paymenls, lolaf
5.178
904 856
26 969
992
59.926
5 698 172
9 894
3 682 243
4 554 313
2 366 106
Under 56,000
1,477
41.017
663
Cf
20.353
28 335
?.173
2.720
161 578
208 690
S6.000 under 510 000
601
16 904
747
CI
4923
13812
533
1.268
82.951
72 329
S10000 under S15000
461
16 659
235
C)
5161
25 844
1.027
5.611
101.837
79 400
515 OOO under 520,000
305
13.024
144
CI
2.871
17291
346
1.950
104,890
53,396
520 000 jnder 525 000
213
7 179
274
CI
2.155
16445
316
3.639
84,485
39.313
S25.000 under 550 000
638
37 912
377
CI
7 005
73256
1063
9,165
330,268
153.199
550.000 under 575,000
294
26 332
666
CI
3.555
59 581
554
7.851
265,227
86.687
575,000 under 5100,000
194
20 589
927
CI
2157
46 339
446
9 608
202 085
61.378
5100.000 under 5250.000
471
186
69,068
73919
1313
1010
165
CI
5 331
2467
227135
218295
1 113
602
44.910
55602
695177
520 578
185 714
S250!000 under 5500 000 ..'.'.'.
130 859
5500,000 under SI. 000.000
i.'9
73 186
1099
CI
1.542
260.864
494
84 250
463,498
131 732
51000,000 under 510 000,000
164
288 963
6890
CI
1999
1 283 523
899
651.602
1 09? 540
508.819
510,000 000 under S50.000 000
32
15W341
8477
14
335
1468 062
270
1205 461
341.449
389 597
550.000 000 under 5100.000 000
'*)
I'l
1.563
^
45
699.721
34
560,422
75.809
97,040
5100.000 000 0' more
i'l
(•)
2 594
—
27
1258 668
24
1.038184
31.941
168 964
Wilhoul income lat subiect to estimated
lax payments
4fit
t4P93
227
-
574
3619
CI
ri
CI
69 281
Without normal la< surtax, and allernainie
tai beiore credils
147
37 362
137
''1
78
11631
CI
Cl
843
15.767
Helu'ns without nel income
4 403
372314
1 M?l
r
1 124
6 588
96
1591
3 667
206,412
Returns Without Estimated Ta» Payments
Total
-
-
7.548
690
59,376
552.528
6.442
216.390
1.161.007
80,132
fleiuins wilh ret mccme, total
-
-
4429
535
54 530
539 368
5442
212 530
1 151 517
66 466
Wilh noimai ta", surtax, and alternalive tai
beiore ctedils. loiai
—
—
2999
453
53 109
529 903
5 324
206 477
1 147 793
60 120
With income tax Subject 10 esiimaled ta>
paymenls. lolal
—
_
2 39(1
453
4834?
502 828
4.784
166 720
1.147.242
52,378
Under 56 000
—
—
526
I'l
37.079
48 854
2 950
3 361
331.451
8.143
56,000 under SIO.OOO
—
—
107
CI
3347
14 198
438
1830
83 325
1443
510,000 under 51^000
—
—
167
—
2183
14 950
269
1.250
70 149
1 101
515,000 under S20 000
—
—
50
-
1 113
11962
118
1022
50 119
15/6
520000 under 525 000
—
—
54
—
641
7 969
78
912
43.009
751
525,000 under 550,000
—
—
209
CI
1.875
3S095
326
5-i'3
106.467
2,433
560,000 under S75.0O0 . ,
—
—
64
—
677
24 185
182
5,060
60519
1.423
575.000 under S100.00U
-
-
57
CI
356
17 797
60
2.750
53 340
2066
SlOO.OOO under 5250,000
_
_
207
CI
687
S4274
177
15.575
128210
4,718
5250.000 under 5500.000
—
—
141
—
194
39 776
86
15131
65 985
3.029
$500 000 under 51.000 000
—
—
174
—
90
34.260
43
15.8/9
52 969
3,567
51,000.000 under 510.000,000
—
—
559
—
93
142 064
53
67.275
91443
19,261
510.000,000 under 550000,000
—
—
73
—
7
54 454
5
31343
10 227
3.967
S50.000.000 under SlOO.OOO 000
—
—
—
—
—
—
—
—
—
—
S100 000,000 or more
—
—
—
—
—
—
—
—
—
—
Without income lax subject to eslimaied
la. paymenls
—
—
609
-
4 767
27n75
540
19 757
551
7742
Wilhoul normal la. surtax, and alternative
ta« beiore credits
-
-
1 4?q
CI
1421
9 465
lis
60'1
3 7?4
6 146
flel jrns wilhoul net income
-
-
3 1?0
155
4.846
13 160
; Olic
3 860
9 490
13.656
(•) Eslimale IS not shown separalely because of the small number ol sample returns on which it was ba^ed However, Ihe data are included in Ihe appropnale lotals
•Excludes returns with only la« irom recomputing prior year investment credit lax (rem recompulmg pnor year work incfniive (WINJ credit and 'or additional tax for lair prefertjnces
-Includes returns with normal lax. suMai and alternalive tax alter foreign lax. investment and work incentive (WIN) credits plus tax from recomputing prior year inveslment and work incenlive (WIN) credits Excludes additional lax lor
lax preferences
■Credits include loreign lai. investment, and work incentive (WIN) credits
NOTE See lext tor Explanation cl Terms and " Descnpiion of Ihe Sample and Limilations ol the Data
122
Corporation Returns/1974
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126
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 18. — Investment Credit and Related Items, for Total Returns, and Returns With Carryover, by Size of Investment Credit
|All tigLirt-s a'e eslimales based on samples— money amounis are m ihousands ot doliars|
Total active
Relurns with inveslmeni credil. by
size of credit
Corporation
rt«m
returns Other
than Forms
1120S and
1120-DISC
Under
SSOO
S500
S2.500
S6.000
$10,000
$15,000
Total
under
under
under
under
under
S2,500
«.000
SlO.OOO
$15,000
$20,000
(1)
121
(31
(4)
(SI
(61
(71
(81
Number ol returns
1,626.334
533 947
320 471
136 517
40618
14 581
7.021
3.654
Busrness recerpis
2.709.70?,373
2.025.639.360
196 695 031
199.733554
108121265
65 109 316
47 513.543
35 186.460
Nel income (less delicil)
137 506.774
142.874,424
7883 335
9.016355
5 430 438
3 719.746
2 777815
2044 221
Income sub[ect lo lax
143 967,362
136.273.561
7 588.297
8713321
5.228722
3.602 316
2 688 7-f
1961.649
Income tat. lolal
66.106.421
63.000.785
2 728.281
3.584 623
2.271.503
1632.674
1.240.655
915.667
Normal la« soflax, and allecnatiue lax
Tolal
65.582120
62612980
2.721 120
3 570 547
2,259.518
1 624.203
1.232.411
910.618
Alter loreign ta« credil
44 829 301
43 079.269
2 717.433
3561.361
2.249.615
1617.854
1.220.824
901.172
InveslmenI credil
4.221 384
422t 384
CI
170750
152.060
104.605
81 790
61.182
Foreign la> credit
20 752819
19 533.711
3.687
9.186
9.903
6.349
11.587
9446
Tax Irom recomputing prior year inveslmeni credil
179.121
145710
2917
5898
5.643
4.237
4.035
2.492
Total assets
3.952.766.527
2.805.641 939
176.276.683
236496.037
141.717,103
95894.816
79.204.032
48.049.653
Depreciable assets
1 154.201.858
837.609 463
27,039616
32.748497
22.852.285
14 839.859
11.482.937
8.328.373
Accumulated depreciation
433.272.588
328.432163
13,160,906
15 193.088
10056 638
6 751.820
5.063.314
3.769.959
Depreciation deduction
76.227.455
56.826.934
2 186,816
2.914489
2,033 882
1.314762
1.011.222
755.490
Cost ol properly used for im/eslmenl credit lolal
96.620 019
75.434 892
1 471.065
3 305 491
2,699,335
1 735.397
1.337.311
1.021.695
CosI ol new properly
94 126745
73.519153
1258 845
2.887021
2,338547
1.598.931
1.248953
967.673
CosI ot used propeny
2000 798
1.460 570
211 102
415.430
356339
135 300
86574
48.865
New or used propeny nol slaied
492 476
455.169
1,118
3.040
4.449
CI
CI
C)
Inwestmeni qualilied for credit
86.572770
67 584 782
915.853
2.494.632
2.198 864
1 417 882
1 100 847
850 735
Tenlaliwe investment credit
Number ol returns
696.802
509 217
301.999
131.848
39809
14 086
6.896
3606
Amount
5.365919
4.196 063
20.779
186.747
156.021
100.188
78.237
59.577
Im/eslmenl credit carryover
3519.323
1 518.515
6.095
40.512
35.116
24716
17.010
12.636
Unused inveslment credit
Number ol returns
246.364
45.619
13.964
1 7.759
7.361
2543
1.127
621
AmounI
4.663.709
1.493.045
26.813
56.462
39.062
20.290
13.455
11.029
Returns with investment credit carryover
Number of returns
168.186
87.975
43.122
25.256
9.946
' 3.753
1.807
909
Tentative investment credit
Number 01 returns
130.811
63558
24.960
20.590
9.137
3.258
1.682
861
AmounI
1.726.469
1.017 965
4.886
24.455
25.881
16945
13.430
10.984
Inveslmeni credit carryover
3.519.323
1.518515
6095
40512
35.116
24 716
17.010
12.636
Normal tax. surtax and alternative lax alter loreign lax credit
6.390 593
6390593
96.680
166.017
134 795
121 307
88.787
73.131
Inveslmeni credit
1.400.087
1.400.087
CI
32.748
37 808
27.156
20 791
15.151
Unused tnveslmeni credit
Number ol returns
105.054
24.841
5.509
10.001
4.622
1 712
778
441
AmounI
3.845.700
1.136.368
10972
32.210
23.168
14.502
9.648
8 469
Returns wilh carryover greater Ihan inveslmeni credil
Number ol returns
90 486
10.273
3,805
3.698
t 466
450
227
107
Tentative inveslmeni credit
Number of lelutns
76.247
8.9'. 4
3,161
3.165
1412
445
198
107
AmounI
1.012610
304 066
2,314
8.766
6.892
3.352
2.982
2.604
Inveslmeni credil carryover
3005296
1 004 488
6.095
21.738
15.467
9.748
6055
4.859
Normal lax. sunax and allemalive tax after foreign tax credit'
629757
629 757
1.239
7 914
5.744
4.249
2.544
2.044
Inveslmeni credit
316.716
316.716
I'l
4 767
5.461
3.246
2.517
1.755
Unused inveslment credit
3.701 183
991851
8.407
25 733
16.898
9854
6.520
5.708
Returns with accounting perrods ended January 1975 Ihrougn
June 1975. with investment credit items
Number of returns
253.554
162.616
108.775
48 254
13.311
4.924
2.494
1.301
Cost of property used for investment credit lolal
12.735.780
9.588.360
472.455
1045.473
784.167
561614
444.302
333.119
Cost of new property
11.994 437
9.064.019
409.463
900 291
662.986
510 175
408.874
312.347
CosI of used property
Number of relurns
67 723
47437
19.761
14.995
6.188
2.348
1.371
756
Amount
699 749
487652
62.722
142.728
117.270
50.367
35.428
19.257
New or used property nol slated
41.594
36.689
CI
CI
CI
CI
—
CI
Inveslmeni qualified tor credit
10.654 638
8 158.217
301.152
793807
639.676
447.338
364.831
277.324
Tentative investment credit
•
Number ol returns
240.912
175.508
103.620
46.722
13.132
4783
2.446
1.295
Amount
814.998
61 1 336
7.239
64.145
49.924
34 598
28.428
20.757
Investment credit carryover
427.681
130.473
1.773
11376
11.336
9.797
5.816
4.748
Normal tax, surtax, and alternative tax alter loreign tax credit'
7.820.233
7.820 209
774.358
1.092.254
634.715
459.894
347.016
255.767
Inveslment credit
Number of returns
182.616
182.616
108.775
48.254
13.311
4.924
2.494
1.301
Amount
605.701
605.701
CI
59.721
50.283
35.652
29.069
21.851
Unused investment credit
Number of relurns
85.854
15248
4.380
6.331
2314
885
378
260
AmounI
636.959
136.089
9 005
15.797
10.976
8.742
5 174
3.654
Foolnotes al end ot table See texl for Explanation ol Terms and 'Descnplion ol Ihe Sample and Limilations ot me Dala
Corporation Returns/1974
127
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 18.— Investment Credit and Related Items, for Total Returns, and Returns With Carryover, by Size of Investment Credit-
Continued
1
All liguies aie eslim
3tes based on samples-money amounts
are in tfiousands o
dollaisl
Returns
with investment credit, by sue ot credit—
Continued
Hem
$20,000
»25.000
S50.000
stoo.ooo
$250,000
$500,000
$1,000,000
under
under
under
under
under
under
under
$10,000,000
$25,000
$50,000
$100,000
$250,000
$500,000
Sl.000.000
(10.000,000
or more
191
|I0|
I'll
1121
(131
114)
1151
116)
Numbei ol lelu'ns
2 260
4 382
1 946
1 186
481
296
159
55
Business reccpls
33.8^3,158
79 955.843
79.772.961
103 846209
127,083,475
133.700.839
465 634.433
350,441 173
Nel income (less deficil)
1,633,757
4 656 176
4.896019
6420 188
6,336,607
29 260.597
27 962 408
30,836,762
Income subjeci lo la<
1 571085
4 433 305
4679.029
6.052.570
6,076,335
29.046.380
27.272.743
27 357,033
Income tai. tolal
735.983
2.091.541
2-224.005
2.984.172
2874091
13.913.028
12828 780
13.075,762
Noimal tai sufla> and allernalive tax
Toial
732 389
2 077 730
2.211.927
2.869.610
2,960,267
13.895 105
12 721 083
12 927,452
Aftei loieign ta« ciedir
721 692
2 023 771
2.140.595
2.697.532
2,570,750
2.692.303
10293 195
7,670,972
Investmeni credil
49 779
146415
135.094
182.028
167,476
207313
1.312664
1 448 226
Foreign lav ciedil
10.«7
53 959
71.332
171.078
299,517
11.202.602
2 427 889
5,256,480
Ta« (fom recomputing piior year investment cieOil
I 742
6626
5711
7.203
7,616
6.391
51384
31,815
Tolal assets
40 052 331
153 503686
125.004 028
193615925
166,943,170
216710407
763 466.300
368,707,568
Dep<eciabte assets
6 686 672
20437586
20 624.093
36 961.793
42,400.667
42.970.026
264.954012
295483,067
Accumulated deDreciation
2861 334
9754075
8.504.136
14 101 123
17,479,634
16.276.868
99.006.520
108,453,748
Depreciation deduction
619655
1.733934
1.625.176
2 715695
3,207,445
2.875.241
16.664.759
17,168.368
659 256
2.516.820
2209,224
3900 684
4,573,129
3.605.341
23.281.312
22.918.632
Cost ot new piopeny
825.740
2439786
2,164,947
3.844.018
4554.097
3.563.344
23.233.263
22.595.098
Cost ol used piopertv
31 764
70.963
35 991
27 735
13373
9335
15 627
2.172
New or used piopeny not stated
CI
1*1
n
n
CI
32.662
32422
321.362
investment qualified lor credit
696.61 7
2 107 046
1 916250
3.421699
3.837.835
3.312661
21.396.855
21917.006
Tentative investment ciedit
Number ol returns
2.256
4321
1929
1.179
481
295
457
55
Amount
49 854
149 508
134,893
224.525
255.911
222 194
1.342.712
422.368
1.214.917
657.557
Investment credit caiiyover
15 046
44 774
26596
77.449
100.071
38570
Unused investment credit
Number ot returns
406
1 129
358
241
103
66
124
17
Amount
15.120
45.961
26 391
119.944
188.506
53 451
452415
424246
Returns witti investment ciedit carryover
Number ot returns
685
1.297
450
347
130
77
170
26
Tentative investmeni ciedit
Numbei ot returns
661
1236
433
340
130
76
168
26
Amount ^
12388
33.213
23 283
60.910
43.023
51.633
424.909
272.226
Investment credit carryover
15.046
44 774
26,596
77 448
100.071
38570
422.368
657.557
Normal tai surtan. and alternative tax attei toreign tax credit'
62.916
162 573
181,914
386.007
346.374
380.288
2.659.705
1,510.099
Investment credit
15.019
43.551
31,192
52.953
46.065
53.842
513.375
510.436
Unused investmeni ciedit
Numbei ol returns
327
917
238
175
68
42
95
16
Amount
12415
34 435
18 686
85.305
97 029
36.361
333.801
419.347
Returns with carryover greater than investment creC-t
Number ol returns
95
235
72
41
25
11
32
9
Tentative investment credit
Number ol returns
95
227
68
40
25
11
31
9
Amount
4 624
10.999
5,675
24577
13.959
11.493
100.947
104613
Investment credit carrvover
6 449
22937
12,457
54 462
92 326
19.258
269 066
473 571
Normal tax, surtax, and alternative tax altei loreign tax ciedit
2546
8950
7 756
12429
36.344
14.750
190.379
332,869
Investment credit
2091
7 403
4590
6 161
9099
7.500
95.577
166.549
Unused investment ciedil
8.992
26 431
13 742
72.878
97.186
23.241
274.436
411.835
Returns witn accounting peiiods ended January 1975 thiough
June 1975. with investment aedit items
Number ol returns
887
1.506
614
332
100
55
61
C)
Cost ol properly used tor investment ciedit tolal
275 894
739.078
611319
717.648
596 899
625 922
2.038.252
C)
Cost ol new properly
265.625
709.952
595.967
703.911
588 963
616.108
2036.309
343.149
Cost ol used properly
Number ol retuins
417
859
381
218
63
37
41
C)
Amount
10.269
23.644
11.551
7.911
2.606
1.674
1.944
C)
New Of used properly nol stated
—
n
n
CI
C)
8.140
_
Investment Qualilied toi credit
239 229
637 741
526 701
637 441
524.839
577.024
1 965 695
325419
Teniative investment ciedil
Numbei ol letuins
880
1475
606
331
100
55
61
CI
Amount
19971
49992
41 539
49.447
37.225
42.905
138.823
CI
Investment ciedit carryover
5.959
12 595
7472
9660
4711
5.698
31.639
7.693
Normal tax surtax and alternative lax altei foreign tax ciedit
209.060
554 733
539 845
595149
503.938
452.401
1.205.946
195.133
Investment ciedit
Numbei ol returns
887
1506
614
332
100
55
61
C)
Amount
19.337
50219
42.936
49.337
34.206
39.510
138.544
CI
Unused investment credit
Numbei ol returns
120
357
114
61
22
14
12
Amount
5593
12 365
6.074
9 769
7.730
9293
31917
-
(■) Eslimaie IS nol shown separately because ot the small number ol sample returns on which il was based However, the data are included in the appropriate lolals
' Less than SSOO per relurn
NOTE See leKi tor Exptanalionol Terms and Descnpiion ol the Sample and Limiialions ol ihe Data '
128
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS. OTHER THAN FORMS 1120S AND 1120-DISC
Table 19.— Investment Credit Items: Number of Returns, Cost of Property, Investment Qualified for Credit, Tentative Credit, Carryover,
Income Tax, Investment Credit, Unused Credit, Depreciable Assets, Depreciation Deduction, and Returns With Carryover, by Major
Industry
|Ail tigures are estimdios ba^,t.r] on sampies— money amounis are m ihousands o' dollar5|
Number of
returns o(
aclive
corporations,
other than
Forms 1120S
and 1120-DISC
Normal tai. surtax, and
alternative tai
After
foreign t
credit
Ta« from
recomputing
prior year
investment
credit
Returns with investment credit items
Cost of property used 'or investment credit
Cost of
new
property
Cost of
used
property
New or used
properly
not staled
All Industries
Agriculture, forestry, and fishing
Mlnlr)g
Melat mining
Coal mining
Oil and gas extraction
Nonmelallic minerals, except luels
General building conlradors and operative builders
Heavy construclion contractors .
Special Hade coniractors
Manufaclurlng .
Food and kindred products
Tobacco manulaclures
Textile miH products
Apparel and other leilile products
Lumber and wood products
Furniture and tixluies
Paper and allied producis
Prinling and publishing
Chemicals and allied products
Petroleum (ir'cludmg miegraled) and coal products
Rubtier and miscellaneous plastics products
Leather and leather products
Stone clay, and glass products
Primary metal industries
Fabricated metal products
Machinery, excepi electncal
ElecKical and eleclromc equipment
Motor vehicles and equipment
Transportation equipment, except motor vehicles
Instruments and related products
Miscellaneous manulactunng and manutacluring not allocable
Transportation and public utilities
Transportation
Communication
Electric, gas, and sanitary services
Wholesale and retail trade
Wholesale trade
Groceries and relaled producis .
Machinery, equipment, and supplies
Miscellaneous wholesale trade
Retail trade
Building malenals. garden supplies, and mobile home
dealers
General merchandise stores
Food stores
Automotrve dealers and service stations
Apparel and accessory stores
Furniture and home lur mshings stores , ,
Ealing and drinking places , . , ,
Miscellaneous retail stores
Wtiotesale and retail trade noi allocable
Finance, insurance, and real estate
Banking
Credit agenoes other than banks
Security, commodity brokers and sen/ices
Insurance
Insurance agents, biokers, and service
Real estate
Holding and other investment companies, except bank
holding companies
Hotels and other lodging places
Personal services
Business sen/ices
Auto repair, miscellaneous repair services
Amusement and recrealion services
Other services
Nature of business no) allocable
1.626,334
36.260
13,369
1 579
1,558
7, 15^1
3,078
59.866
12,513
75.414
177.654
13,095
63
5,6te
13,040
10,291
5 672
3,614
24 176
7,952
4.413
21,954
20.697
9,052
2 011
3 268
4 574
9 942
65.695
49 762
7 964
7 969
479,003
172,467
16,265
35,860
120.342
306,206
19,794
52,700
30,334
29,279
58,408
81.400
330
387,072
14,42'
46,64t
4 275
7,072
29,280
241,958
43,418
12,626
27,6
85,746
37 214
28,455
125,374
2,169
65,582.120
332,688
197,667
571,409
1,246,094
391,699
361.060
402,518
31.970,477
2,728.261
549,964
536,709
415,293
611,165
182,057
1,393,772
1,126.329
4,192,738
6 844,473
434,214
104.427
511.275
2,688,333
1.625,610
3,415.535
1,551,199
1 ,265,227
597,884
825,161
350 851
4,682,199
1 407 752
1 730 259
1.544 168
8,291.612
5,127,197
377,261
907,974
3,641,962
3,163.678
245 439
777.055
493,376
437,356
249,998
147,851
276,049
536,552
(•)
5,493,833
1 548 111
765,549
121.892
2,053.290
148.519
652.611
203,861
1,419.647
84,426
127,403
466,229
129,003
306 919
305,667
113.352
520,422
381.062
130,150
363 965
358 033
398,183
23.590.692
2,434,542
384,247
530,136
411,240
573,478
178,679
1.256,125
1.073,761
3,416.078
2.232 827
377.372
102,852
436,517
2.316.614
1,537.801
2.577.987
1.275.572
881,198
569,269
696.937
325,440
1,361 W2
1.698.675
1,525.593
7.903.44S
4,841,221
376,174
895,770
3,569,277
3.061,487
245 375
710 844
492.090
406,274
249,845
147,318
273.949
533.792
I")
1,027,141
739,504
120.059
1.939,380
143,255
651,115
1.351.686
83416
125,452
444.546
128,797
266,667
302 608
179,121
2.705
1,493
3.731
7.947
2.621
2,321
569
3.538
295
2,396
2,814
13,338
7,641
2,550
3,247
10,635
12,373
6,907
3,499
1,772
770
9,230
13,711
6,253
3.313
6,093
5,106
1.412
3,141
205
528
4,273
3,250
735.273
22.821
24,734
7,932
39,892
3 660
7,544
6,809
3,480
2,452
12.867
5229
9,460
9,261
681
5.761
3.385
15,580
15.336
5,450
1,563
1,858
2.611
5.706
35,991
26,215
5,387
4 389
256,382
98,362
10.275
21.535
66.452
157.942
13,879
5,300
12,188
31 ,846
13.854
13.583
29,365
37.927
CI
77.506
12.493
8,561
1,315
2493
12,421
36.770
3453
146.366
6,923
13,990
32,469
17,166
12,575
63,243
1.102
1.030.865
2.316.556
319 220
649 482
995,445
352,409
655 669
1,300,250
850.263
36.89 1.88S
3.003,310
329,452
840,746
261 562
1,378 317
192,288
1,536.062
1,058.230
4,043,854
4 234 293
944,610
77,269
1 .4 1 1 ,802
2,861 459
1.507.036
3,465,853
3,240,539
4,221.554
1,122,749
774.651
386,224
34,473,811
7.540.334
12 076.501
14.654 976
6.491,701
3,661,682
407,995
741,256
2,512,431
4,927.252
249.970
1,199.845
1 113,890
608,365
179.516
135 392
733,361
606.913
(•)
5.444.947
2.911.513
760,239
76,655
1,012,792
92,356
490,154
5.150,078
296.730
269.666
1,710.638
1,181,344
995,332
694,368
13,994
934.691
2,235.697
317,112
624.067
966.033
328,465
574.762
1,203 704
704.237
2.912.098
326,746
822.951
245,416
1 331,900
181,669
1.521,394
1,019.256
3.823.552
4.228.528
921.111
73.598
1.369429
2,715,304
1421,301
3.390,817
3.223,356
4.214.486
1,108,926
766.124
371.099
34,205,775
7.376,658
12.047,676
14,779,241
687.194
2.326,239
4.579,914
218,893
1,168.187
1,079,817
566.830
170.722
121,355
676,094
556.016
(•)
2.895.001
736.603
75.408
1 ,007,943
84,399
456.937
4.924.670
286.734
248,162
1 .630,638
1,136.979
969,396
652.961
11,475
95.798
80.659
2,108
25,415
29 412
23 924
319.942
80,646
96 546
142 750
15,647
16,146
46,417
10619
14.591
38.263
21 916
5.765
23.439
3.671
42,373
23.179
85,696
75,036
17 181
7.066
13,623
6,151
15,125
174.007
151062
6,336
14 609
496.967
262,901
27,077
52,046
183,778
234 032
31,077
5.306
34.073
41.080
8,794
8,292
55,267
50,143
(•)
76.992
15,599
11 160
1.247
3,778
7,957
32,993
6,258
9,475
21 504
75.802
43 689
25,936
40,692
2,519
492.476
Footnotes at er>d ol table See text for Explanation ol Terms ' and Description ol the Sample and Lmiilations ot the Dala '
Corporation Returns/1974
129
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 19.— Investment Credit Items: Number of Returns, Cost of Property, Investment Qualified for Credit, Tentative Credit, Carryover,
Income Tax, Investment Credit, Unused Credit, Depreciable Assets. Depreciation Deduction, and Returns With Carryover, by Major
Industry— Continued
[All liguf-;s are e:>timaies Based un samples— money arrounis are in thousdri'is o' do:idfs|
AM industries
Agriculture, forestry. 3r.d fishing
Mining
Meial mining
Coal minif»g
Oil and gas enlraction
Nonmelallic minerals, excepi fuels
Conslroctlon
General building conlractors and opeiairve bui'dor^
Heavv conslfuciion contractors
Special trade conlraclors
Manufacturing
Food and kindred products
Tobacco rnanulaclures
Textile mill products
Appaiei and olher teiiile products
Lumber and wood products
Furniture and Imlures
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum (including integraled) and coal products
Rubber and m>scellaneous plastics pioduc's ! . .
1 eathei and lealher products
Slone. clay, and glass products
Primary metal industries
Fabricated meial products
Machinery, except electrical
Eleclrical and eleclromc equipment
Motor vehicles and equipment
Transportation equipment, eircepl motor vehicles
Instruments and related products
Miscellaneous manulactunng and manutaclunng not allocablo
Transponation and public utilities
iranspoflation .
Communication . ,
Etectnc. gas, and sanitary services
Wholesale and retail trade
Wholesale Irade
Groceries and rplaled producis
Machinery, equipmefl, and supplies
Miscellaneous wholtsale Irade
Retail trade
Building malenals. garden supplies, and moM<-- home
dealers
General merchandise stores
Food stores
Aulomotive dealers and service stations
Apparel and accessory stores
Furniture and home lurmshings stores
Eating and drinking places
Miscellaneous retail stores
Wholesale and retail trade not allocable
Finance, insurance, and real estate .
Banking
Credit agencies Olher than banks
Secunry, commodity brokers and sen/ices
Insurance
Insurance agenls. brokers, and service
Real estate
Holding and olher investment companies, encept fiank
holding companies
Hole's and olher lodging places
Personal services
Business services
Aulo repair, miscellaneous repair services
Amusement and recreation services
Other services
Tentative investment credit
Nature of business not allocable
696.802
21.137
6,492
74
1.030
3.626
1.760
23,589
7, 54 J
38,52-1
9 589
61
3 462
7,501
6,718
3,402
2,399
t2,l98
5026
680
4,700
837
5.539
3,337
15,075
14,910
5,422
1 538
1 644
2.607
5 447
33.973
24,669
5.3t7
3,987
243.271
94.407
9748
20,648
64,011
148 766
13.315
4 586
11.759
30,649
12,816
12,915
27,254
35,492
(•)
71.078
12,386
6,020
t.176
2222
1 1 ,705
32,481
3086
137.553
6 325
13.056
31.222
16.217
11.868
58,865
850
145.390
21,735
40,106
61.599
21.950
146.953
33,573
72,914
40 466
193,729
22 190
57.226
15 578
89,232
12.041
101,470
67,699
272,718
282,394
56,066
4.663
91,427
191683
97 953
213,905
181 194
219152
71 40?
46,443
23,442
1,628.588
462,960
500.706
644 922
465,396
197934
22,374
36,959
138,601
287,272
12,968
78 925
73,481
24.380
10659
5 687
47.566
33,606
CI
313.38B
176,756
33,706
4,529
58,416
3.599
27.237
Returns with investment credit items— Continued
Inveslmeni
credit
carryover
7,146
18,178
12,908
93.486
45,325
63,123'
37,468:
822
137.541
15,206
39,004
54,502
28,829
74.976
18607
41606
46,307
CI
19 490
3918
16.786
2 593
17 857
13817
61,953
421,197
13,672
1,807
32,553
224,621
37,664
99 588
40.594
6,449
72.888
5,875
7 784
I 167 509
4)459
213 309
188,411
70 473
7,983
10,166
52,324
1 1 7,938
4 421
28 236
27 248
9,207
4,009
2.014
23,547
19.256
153.621
52 214
11,023
2,011
54.077
644
27,625
6.027
356.998
16,620
6.449
100,143
43 987
172,728
17071
n
(14)
64.245.149
317.132
12,190.749
I85 0ti8
568,110
1 1 242,680
194,891
1.107.484
366,586
366,723
374,175
32.103.213
2,721,074
552 483
532,438
399 953
606.651
1 79,765
1,390 820
1 113,229
4,193,884
7,035,905
431,463
101.575
514.090
2.700,335
1610,374
3.397 093
1,564,946
1,291,993
598 939
822 16 1
344,042
4.655.681
1 369 956
1 742 555
I 543 170
7.729,941
4,790 84f
352,%&
658 24
3,579,632
2938,336
224,440
763,792
482,776
405 098
204,136
121 680
263,145
473.369
(•)
4.837.263
I 546.877
728,876
115,609
1 950,697
128,208
294,452
70,544
1.296.136
81,487
1 1 7,276
421,896
112,427
291,225
27 1 827
7.548
Normal lax. surtax, and
alternative tax
(15)
63.735.398
314.581
12.143.530
167 903
558,085
11,230,057
187.485
1.099.572
364,644
362,796
V2.232
31.791,557
2 714 504
549,844
530,131
399 393
594.100
179,414
1,386,914
1.110.259
4 t 79 630
6,842,158
428.995
101,293
507,536
2,682,225
1.607,015
3,387,063
1,648,027
1 284,586
595 252
820 393
342,835
4.619.889
1,354,665
1,728,845
1536 379
854,779
3,570 925
224,014
761,344
4a 1 198
403,0
203,752
121,348
262.262
472.645
(■)
4.765.190
1,518,536
695,069
115,570
1,947,631
128.022
290,652
69,710
1.285,395
80,644
116 808
417,735
109.242
290.087
2/0,879
After
foreign
tax credit
7.546
313.523
1,117.872
112 228
507,098
370,466
126.078
1.045.8 II
336,610
339872
369,329
23.421,798
2.421.521
384,127
523,558
395,340
556 413
176,036
1,249,267
I 058.895
3.403.681
2.232.379
372,417
99,718
432,776
2,310,506
1519.223
2.551.695
1,272.400
880,557
566 637
695.58
318 969
4,526.095
1.310,850
1 697 46
1 517,784
7.333.850
4 503,642
351026
844,545
3.306,069
2829.471
223,950
696,222
479.910
373,940
203.655
120.8
260,162
470.817
n
4.095.965
397,576
670,664
113,755
1.834,076
122.758
289.253
67.863
1.217.798
79 634
114,857
396,084
109.036
250 135
268.052
7.347
Investment credit
533.947
15.322
2.717
1.342
16,142
5,514
28.238
7.390
57
2.332
2089
8,932
3,864
615
3.450
762
4.192
2.903
12.306
3.505
1,103
1452
1,838
3,679
25,142
18,468
3 557
3 11
4.361
9,057
23,697
10,697
9,664
17.651
27.522
I')
54.267
10,326
6326
628
1.745
9,646
23.312
2.284
102,636
3 896
9,626
21,563
12.646
7 496
47511
1.009
Footnotes al end ol table See text lor Explanation of Terms' and "Description ol Ihe Sample and Limitations of the Daia
42.576
134.767
19,463
43 731
36,695
34,878
102,834
21 725
49,267
31,842
41,217
It, 306
72,285
9,702
102983
60,998
278,440
312.784
54,674
3.608
75.194
273.407
92.973
174,687
129,469
114,696
59.966
33,105
19.902
360,659
466.336
286 116
394.788
165,699
18.560
32.527
114,512
229,009
10,274
63,875
65 154
17.942
9.215
3.852
30.783
27.914
(•)
161,083
94,390
17,073
3.220
23,758
2,687
16,803
3,152
161.092
9126
10.929
47,273
22 496
44,1390
26 578
Unused tnveslment credit
522
246.364
9.807
3.041
30
389
1,730
692
27.732
9,889
3.732
I4,t1t
40.002
2.967
{•)
1,837
2,263
3,161
1.436
518
5.086
1.547
125
1.61
403
2.414
743
4.533
4.966
2.124
499
559
1,025
2,173
16,979
69.310
16,562
2 411
3,896
12.273
50.726
3.187
1,161
3,933
9,227
3.408
4.064
13,767
11.959
(•)
25.235
2,680
2 434
692
54.037
3 629
5,201
14.255
6.622
5 601,
18 629
(•)
130
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 19.— Investment Credit Items: Number of Returns, Cost of Property, Investment Qualified for Credit, Tentative Credit, Carryover,
Income Tax, Investment Credit, Unused Credit, Depreciable Assets, Depreciation Deduction, and Returns With Carryover, by Major
Industry — Continued
[All liguies are
eslimalfS based
cn samples-money amounls are in thousands ^
1 dollars]
l^eturns with in
estmeni credit items— Continued
Returns trrith investment credit carryover
Tentative
nvestment
Normal tai.
tjnused investment
Maior industry
Depreciable
assets
Depreciation
deduction
Number ol
credit
Investment
credit
carryover
sunai. and
alternative
Invfrstn^^tii ^1 cull
credit
returns
Number ot
returns
Amount
tax atler
loreign tai
Number ot
returns
Amount
Number ot
returns
Amount
creiJIt
(21)
(22)
(23)
(24)
|25|
(26)
(27)
128)
(291
130)
131)
All industries
t,074,41t,163
7,6t4,00t
71.764.065
636.451
168.186
6.384
130,811
5.400
1.726.489
21.777
3,519,323
30,783
6.390.593
40.628
87,975
3,282
1,400,087
14,826
105 054
4,184
3,845.700
Agriculture, toreslry. and tistiing ,..,,,.,.....
37.734
20,62t,56S
3,389,250
1.457.396
203.750
2.426
25
2.123
25
84.208
10,516
137.541
15 206
388.909
CI
1,638
4
87,804
11472
1,674
24
133.945
Melal mining
14.250
Coal mining
Oil and gas extraction
Nonmelallic minerals, except luels
ia2iS32
360972
409
322
23,935
39,004
201,919
371
30,263
274
32.676
8684,872
563.610
1.268
1,167
40,815
54 502
109,008
797
21612
860
73.505
4,122,614
309.064
726
609
8,942
28 829
55 111
466
24,257
516
13.514
Construction
20,514.922
2.058.295
17.516
14.618
44.501
74,976
124.043
9.322
31.955
11,110
87.521
General building conlraclors and operative
builders
6 261 4Sb
531 520
5,861
4,716
9,510
18,607
34 145
2633
6 363
3,777
21.754
Heavy construction contractors
Special trade contractors
B 883 348
898.493
2,937
2,548
25,204
41,606
56 759
I 720
16.882
1,954
49.928
5370 118
628,282
8,718
7,354
9787
14763
33 139
4 769
8710
5,379
15.839
ManutacturInD
449.901.717
34 730,788
30,883.569
2 541,372
28.265
2443
24.795
2,336
648,348
60 631
1,148.625
46 307
3.603.261
519 806
14.336
1 141
711.592
56,042
18,825
1 704
1.085,379
Food and hindied products
510%
Tobacco manulactures
3,320 729
260,296
CI
(")
CI
CI
CI
C!
CI
CI
C)
Textile mill pioducts
11,501 391
822,737
961
767
8,985
19,490
39 957
301
5,706
780
22.769
Apparel and oltiei textile products
3,012664
246,684
1.040
997
2,734
3918
15.380
497
1509
712
5.143
Lumber and w^od producis
12,931 846
960,858
1.602
1,511
14,590
16,786
35.271
648
6,954
1,191
24.422
Furniture and fixtures
2,242,800
175,504
831
753
1,413
2,593
9,032
579
1,386
364
2.620
Paper and allied products
Printing and publistiing
Chemicals and allied products
19,997,737
1,206,199
642
589
15,187
17,857
201,914
456
24,455
327
8.589
12,021,396
908,615
3.782
3,116
7,462
13,817
31,361
2091
7 984
2,493
13.295
49675619
3 314,354
864
661
56,013
61,953
328 078
288
69458
729
48.507
Petroleum (including integrated) and
coal producis
83 081 024
3 746,357
222
221
154,629
421 197
554,410
175
187 297
90
388.529
Rubber and miscellaneous plastics producis
9 579,385
769,692
1 302
1,122
27,863
13,672
106 339
717
30 099
743
11.436
Leather and leather producis
1 283,641
89,118
399
122
1,146
1,807
CI
C)
CI
243
1.919
Stone, clay and glass producis
16,891,300
1,122,303
1 509
1288
22,504
32 553
56,659
853
21,962
1 138
33.095
Primaiy melal industries
Fabncaled melal products
53650.538
2,736,591
784
749
103,345
224,621
985,498
496
188,862
426
139.104
17 050.555
1,261,101
3737
3,244
16,698
37,664
132129
2,383
21,269
2,129
33.093
Machinery except eleclrtcal
Electrical and electronic eguipmeni
34.965348
3,256,010
3.601
3,178
43,438
99,588
183,678
1,759
30,797
2,315
•112.229
25,904.228
2569,613
1.394
1,366
35,274
40,594
161,109
431
13,038
1,077
62.830
l^oloi vehicles and equipment
32.575,959
2,833,056
234
209
27,730
6,449
26,192
98
6,253
158
27.926
Transpodalion equipment, except motoi vehicles
13190074
1,037 597
584
370
37,689
72686
95 478
319
28 823
349
81.754
Instruments and related producis
8 160 047
679,648
880
876
4,922
5,675
43865
337
261'
782
8.185
Miscellaneous manutacluring and manulacturing
not allocable
4 074 646
343 064
t 442
1,308
5,374
7,784
49,856
564
5 704
1 064
7,454
Transportation and public utilities
399.497.166
20.571.353
12.627
10.609
5S1.642
1,428.277
1.010,729
6.798
328.601
9.608
1,651.317
Transportation
Communication
82 923 165
5,290,530
9,041
7.495
295,654
1,167,509
578 778
4919
238 748
6,973
1,224,415
111082,575
7358,604
2007
1,937
46 711
47459
57 557
748
19 408
1646
74,751
Electric, gas, and sanitary services
205,491,426
7,922,219
1 579
1 177
209,277
213 309
374,394
1 131
70 445
989
352,141
Wholesale and retail trade
76.179,351
6,610.334
45.337
32.629
124.887
188.411
789.699
23.299
103.705
26.602
209.593
Wholesale trade
26,663,474
2,497,366
13.847
10 007
50 944
70,473
393,076
7.814
40 945
7344
60.472
Groceries and related products
3,425,931
327,288
2,015
1,488
5.014
7,983
31,964
\2\\
4,322
1,065
8.675
Machinery equipment, and supplies
Miscellaneous wholesale trade
4,168908
493,799
2,840
1,940
9.354
10,166
72,269
1 620
8,225
1,535
11.295
21,068,635
1,676 279
8,992
6,579
36.576
52 324
288,843
4.983
28,398
4,744
60.502
Retail trade
47,478,904
4,110,623
31,490
22,622
73,943
1 1 7 938
396 623
15,495
62 760
19,258
129.121
Building materials, garden supplies and
mobile home dealers
2,394.827
221,443
1,928
1,386
2133
4 421
11,800
1054
2,382
1,137
4172
General merchandise stores
15.472,173
1,094,878
1,008
294
21,354
28,236
155,188
556
13,172
637
36.418
Frrad stores
9,535,103
668,291
2,892
2,463
20,407
27,248
52,845
1,684
19,333
1,736
28.322
Automotive dealers and sen/ice slalions
5,465,982
602,086
5,331
4,137
4,002
9,207
15,559
2,559
2,948
3,307
10.261
Apparel and accessory stores
Furniture and home lurnishings sloies
Eating and drinking places
Miscellaneous lelail slores
1 912624
172,823
2,386
1,348
2,225
4,009
23,728
1,456
2,398
1,136
3.836
1216 567
121,380
1,660
1,072
1,463
2,014
33,148
759
980
920
2.497
6337 779
537,214
9,030
6,920
12,747
23,547
52,027
3,707
10,759
6,115
25,535
5,113 849
492,508
7 255
5,002
9612
19,256
52,328
3711
10,788
4,270
18,080
Wholesale and retail Irade not allocable
CI
CI
-
~
~
~
~
~
~
~
~
Finance, insurance, and real estate
67,(76,642
4.677.528
16.6SS
10,571
105.691
153.621
220.619
7,267
42.031
10.572
217,261
Bani^ing
Credit agencies other than banks
Security, commodity brokers and services
Insurance
Insurance agents, brokers, and service
Real estate
19,985,209
2,181,399
1 554
1,456
54,469
52,214
82 887
647
25,664
1 176
81,009
7,828,277
581,619
1,553
1,039
19,231
11023
54,960
493
7,051
1 127
23,196
464,749
56,589
326
187
670
2,011
8,963
59
439
270
2,442
7 052,077
856,310
595
325
17,902
54,077
20,912
270
904
350
71,073
558,265
74,303
2056
1,340
744
644
6,219
1,028
340
1.111
1,048
20,117,680
858,658
9 836
5818
6,875
27,625
43,487
4,400
6,941
6,098
29,558
Holding and other inveslmenl companies,
except bank holding companies
1 170,385
68,650
768
406
3,600
6027
3 391
3.'0
692
440
6,935
42,770.952
;, 715,092
2,641,615
4.857.285
44,f244
272,229
38,564
:'4M
3470
29.939
1 813
2536
145.408
9,646
1,759
356.998
16.620
6.449
212.379
23,882
12,366
21.655
958
1 751
79.573
5422
2,878
22,47«
1 723
2115
422,832
Hotels and other lodging places
Personal services
Business senrices
Aulo repair miscellaneous repair senrices
AmusemenI and lecieation services , .
20.844
5.330
11 019,901
1,486271
9679
8 489
49 959
100 143
43993
5253
17,292
6 604
132.810
6,763,022
7,772,960
1,245,276
891656
4,626
4601
3.857
3.694
29,266
42,620
43 987
172728
21,076
71,291
3.041
2021
10553
32 521
3140
3 055
62.700
182.827
Other services
6,858,162
134.844
519,609
11.854
13577
(•)
9.350
CI
12,158
!•)
17.071
(•)
39 771
C)
8 63!
(■)
10907
(•)
5841
CI
18,321
Nature ol business not allocable - , , ,
C)
Foolnotes at end Ol table See lent for 'Explanalionol Terms" and 'Descnplion of the Sample and Limitalions ol the Data '■
Corporation Returns/1974
131
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 19.— Investment Credit Items: Number of Returns, Cost of Property, Investment Qualified for Credit, Tentative Credit, Carryover,
Income Tax, Investment Credit, Unused Credit, Depreciable Assets, Depreciation Deduction, and Returns With Carryover, by Major
Industry— Continued
[All figures are esiimates tiased on samples— money amounts are m ihousanJs qi doilafs)
Relurns with inveslment credit items— Continued
Number of
returns
Returns iwitti carryover greater than investment credit
Tentative investment
credit
Number of
returns
Investment
credit
carryover
Normal tai,
surlai. and
alternative
tai alter
foreign tan
credit
134)
(35)
(36)
All industries
Agriculture, forestry, artd fishinQ
Mining
Mela) •nining
Coal m'ninij
Oti and ga$ exlraclior^
Nonmetaiiic minerals, eicepi lueis
Conslructlon
General building conlraclO'S and operative builders
Heavy construction conira-io'5
Special trade contractors
Manulacluhng
Food and kindred products
Tobacco manulaciures
Teii'le mtll products
Apparel and other textile products
Lumber and wood products
Furniture and Imtuies
Paper and allied products
Punting and publisriing
Ctiemicals and allied producis
Petroleum (including mlegrated) and coal products
Rubber and miscellaneous plastics products
Leather and leatrier producis
Sione. clay, and glass prooucts
Prima'> metal industries
Fabf'catea metal products
Iviachinery, except eleclncal
Electrical and electronic equipmenl
Motor vehicles and equipment
Iransportalion equipmoni, encept motor veh-cifs
Instruments and related products
M'Scedaneous manulaclunriq and manulacturing nol allocable
Transporialion and public ultlittes
Transportalion
Communication
Electric, gas and sanitary services
WholeMte and retail trade
vvnolesale trade
Groceries and related jroducls
Machtnery, eau'pmenl, and Supplies
Uisceiianeous wholesale trade
Retail trade
Buildirg materials, garden sucplies. and mobile home dealers
General merchandise stores
Food stores
Aulomolive dealers and service stations
Apparel and accessory stores
Furnilure and home lurmshings stores
Eating and drmKing places
Miscellaneous retail slo'es
Wholesale and retail iraje nol allocable-
Finance, insurance, and real estate
Banking
Credit agencies other inari l;anks
Security, commodity brokcs and seaxes
Insurance
Insurance agents, brokers, and service
Real estate . .
Holding and other mvestmert ccnoames e»ceci bank holding companie*
Services
Hotels and other lodging piaces . . .
Personal services
Business services . .
Auto repair, miscellaneous repair se'\<c-.-.
Amuser^enl and recreation services
Oin?' services
Nature of business not allocable . .,.
90.466
3,415
561
8,889
1 t2T
4 373
16.129
73.843
6.512
663
1 346
4,303
17,331
869
623
1.560
2,946
959
901
5623
996
1073
1028
5671
19,816
1643
1.922
5 461
2 406
2,906
5 4'-
76,247
2699
1.016
22
lit
2bo:
1 163
3 072
14.547
1 4-1
(•)
554
635
! P94
656
366
1.537
1 922
5.125
699
1,304
2654
737
646
4,4t4
3289
766
131
257
903
3,941
311
17.174
1,453
1.558
4 986
2.005
2 609
1.012,610
13.432
43,704
1628
11 619
27 478
5 133
14 505
4 528
296,783
'5 165
1.836
9 599
108 059
2 493
552
7 442
23.635
7.795
20,517
218,960
18 675
154 862
54.823
23.688
2 046
3803
17,839
31,135
665
'0.301
7.043
2 790
906
5.176
3.161
75.752
34.059
12624
512
17.516
534
6,948
3,559
36.565
21.681
3,005,296
22,780
85.479
4.430
26 900
45 980
B 169
60.827
15 445
34 161
11 22
862.306
33,614
CI
17.352
3,418
1.955
7,616
9.946
23,962
109 520
26,155
92,397
36.535
3.344
64 068
511
5 75^^
1.113.859
42.780
199,615
146.799
52.777
6 074
6 829
39 874
94,022
3,003
26.066
19.658
7.472
2.732
1.616
18.702
14771
45 100
10.508
1,836
53 593
554
23,064
5.677
330.224
15.169
4,472
91.649
39,635
167.094
12.005
(•)
629.757
1.561
25,869
944
13 122
11223
580
4,974
230.024
830
150
625
111
301
87
3,380
1.133
30.154
145.604
933
415
2,646
4 872
1299
26.796
258,120
1.332
17,183
15,301
3,359
488
584
2.267
11.942
246
3 606
4,156
576
2.732
547
13,761
1' 474
1528
423
545
235
6.367
4,270
47,772
3.423
316.716
1,365
13,847
6,920
5 983
460
451
2.315
1,051
15.301
72,
1526
2.574
1.035
4.413
241
140,644
131.225
2 329
360
1 548
2,231
7.554
6.113
3,019
24 224
2 060
( ■ ) Estimate is not shown sepa-ately because ot the small number of sample return on whicn it was based However.
NOTE See leicl (or ■Expiananon ol Terms and Doscnption o( me Sample and Limitations o( the Data
a are included m ine appropnaie totals
132
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 20.— Tax Preference Items: Number of Returns, and Tax Preference and Related Items, by Tax Preference Status, by Major
Industry
[All figures
are esdmaleb based on samp
es— mooey am
unis are in itioijsands Gl do":
'Si
Total returns of active
corporations, citier man Form
1120S and 1120-DISC
Number o1
returns
Selected receipt and deduction items
Industry
Net long term capital gam reduced
by net short-term capital loss
Amortiiation deduction
Depreciation deduction
Depletion
deduction
Total
Amount taied at
alternative rates
Number ol
returns
Amount
Number of
returns
Amount
Number of
returns
Number of
returns
Amount
!1)
(2)
13)
|4|
15)
16)
17)
IB)
(91
1101
1,626,334
36,280
7,740,064
185,293
33.825
1.433
5.222122
64.170
246.447
6.280
793.800
1,653
1.360.095
33.161
76.227.455
708.450
19.15e
934
18,931.327
22,579
13,369
I •li'i
1,558
715<1
3,071
336.128
29.695
64 033
215987
26 413
690
19
212
331
277
174.756
27 070
55.030
77 159
15 491
1.798
147
198
971
482
7,7(6
3,710
734
2.301
1 04 1
10.047
614
1.317
5.478
2 636
1.596.431
285.815
386 172
6C1 204
323240
5,261
105
940
2.788
1428
7 865 856
Mela! mtnmg
Coal mining
Oil and gas extraclion
rjonmelallic minerals, except fuels
246.604
437.457
6.989744
192.051
147,793
59 866
12513
76414
232,065
122 717
72 162
37 186
2,632
934
742
956
72.755
32611
1 27.398
12 746
22,380
8 995
1927
11458
5.742
2460
1.637
1645
126.258
47.090
11.297
67 671
2,319,045
630677
957040
731.328
1,244
209
554
481
General building conlraclors and opera'-ve builders
Heavy consUuchon coniraciors
Special trade conlraclors
8.558
22.652
4.366
Manufacturing
177,654
4,022,178
7,225
3.617,000
28.449
295.748
163.759
31.393,704
1.805
10.201.321
Food and kindred p'oducts ...
Tobacco manulactures
Texlile mill products
Apparel and oifier textile products
Lumber and wood products
13 095
6J
5,618
13,040
10,291
98 701
6.590
52 14]
6.734
1 412.167
794
(•)
208
152
526
73 948
CI
13646
2 903
1 232718
1 769
6
780
1922
1 545
18 430
5.557
2 854
2 804
11.792
12.617
61
5.132
1 1 .601
9421
2,583061
260 296
855 134
265336
987.687
75
n
(•)
CI
186
23.344
CI
CI
CI
1.374.132
Furnilure and lixtures
Paper and allied products
Pnnting and publishing
Chemicals and allied producis
Petroleum (including mtegraled) and coal products
5 872
3614
24 176
8.168
931
6.445
576428
136.449
291.551
235.909
148
194
535
317
78
3 223
575 335
116,074
280,168
233.650
973
486
3 767
1410
£6
1 107
11.231
11.1123
25 581
20 198
5438
3.340
20.493
7 052
925
184.524
1 2I64I5
956.793
3.328.797
3.750 328
I*)
41
291
123
84
C)
223.786
47,464
232.881
7.447.477
Hutiber and miscellaneous plasties producis
Stone, clay, and glass producis
Pnmary metal induslties
Fabricated melal products
7,162
1,761
7,952
4413
21,954
19.098
3.745
103.226
128.082
87.776
256
58
496
260
988
16.877
2.814
87 133
125 830
75.453
1.740
123
1001
545
3.445
4 116
760
8069
45782
14.116
6729
1757
7.659
4.206
21.135
780572
95101
1 143.948
2.803.188
1.291,975
56
n
427
78
215
1,281
n
85,371
594 294
13.533
Macrimery. excepi electrical
Electrical and electronic equipment
Motor vefiicles and equipment
Tfansporlation equipment, except motor vetiicles
Inslrcmenis and 'elated products
Miscellaneous manulactunng and manulaclu<ing not allocable .. . ...
20 697
9 052
2,011
3 269
4,574
9 942
158.825
268 502
303.598
70.855
33 005
22 349
1 195
328
120
192
113
257
121 102
254 979
294 059
62.469
26 347
11 643
3 606
1 697
325
586
925
1 730
59.422
1-786
13.792
5.226
8 034
8 048
20.080
7.709
1.983
3,113
4,182
9,126
3.294.697
2.650.657
2.843.663
1.045.099
691 009
363.422
84
32
21
12
CI
T)
22.552
20.771
10 836
18.927
n
Cl
65,695
628,290
1.626
383,731
9,512
258.389
58,284
20.965.706
598
310,762
Transportation
Communical'On
Eleclfic, gas, and sanitary services
49 762
7 964
7 969
427 167
26 030
175,093
1.184
122
320
2.'6 978
16 653
95100
6 639
1.718
1.155
1 79 203
10.148
69 538
43.943
7.062
7.259
5.498.731
7,479,813
7.987.162
454
CI
127
81540
CI
229.024
479,003
424,725
7,746
251.245
66.720
73,609
434.255
7,220,651
2.730
272,036
Wholesale trade
Gicceries and telated products
Miscellaneous wholesale trade
172 467
16 265
35 860
120 3,12
194 594
12 133
22,993
159.468
4313
235
989
3089
'17.808
5.558
18.856
113394
25.314
2430
6.177
16.707
41 381
2.125
2 776
35.480
152 000
15 196
32.059
104.745
2,695 063
361.870
530.342
1 802.851
1055
98
51
906
235.166
568
6881
227.717
Retail irade
Building materials garden supplies, and mobile home dealers
General meichandise sioies
Food slores
Automotive dealers and service slalions
306 206
24 780
9511
19 794
52 700
230.131
23 806
46258
22151
30.228
3 432
636
140
370
855
113437
13.450
31.580
14.338
12.523
41 406
3 0':9
1205
2240
6 054
32.226
6.344
1.803
2.978
281 925
22.629
8.967
18821
47 491
4 523 191
251.617
1.108.541
901 125
661.777
1675
151
7
CI
143
36.870
1.880
2.289
C)
18.035
Apparel and sccessofy stores
Furnilure and home furnishings stores
Ealing and di-nking places
Wholesale ana reia-l trade not allocable
30 334
29279
58,408
81400
3?n
13.576
17 628
42.012
34272
235
212
261
723
n
6.221
2.765
17.750
14810
(•)
3,779
3923
9755
11 441
2.517
984
10.643
6248
28 008
26 570
55 165
74 174
330
206 816
158 116
644.546
590 651
2597
C)
383
CI
595
CI
1.260
CI
11.229
387,072
1.649,760
10.281
563.619
43,735
72,220
273.716
G.348.489
4.962
213.040
Banking
Credit agencies oilier Ihan banks
Security, commodity brokers and services
Insurance
Insurance agents, brokers, and service
Real estate
Holding and olher investment companies, except bank hoidmq Lompames
14 421
46,648
4275
7072
29 280
241958
43,418
150 152
143 264
30.398
188.671
13 584
577 670
546.021
3 869
902
82
299
210
3.901
998
97.461
65.718
10.770
51-609
5 788
188 341
143931
1.662
4.567
1.138
827
3.950
27.901
3.690
23312
9,635
3,752
10,243
4,398
16.585
4.295
13 996
19.843
2 505
4.086
22.195
198165
12 926
2191.284
611202
61929
921.587
89 628
2.319 389
152 97C
365
156
117
89
C)
1430
2.494
4.778
1.027
807
11203
CI
145.861
49.188
Services
317.299
12t.26
27 884
85 "Mb
37 211
28 455
125 374
260.685
53 628
14 605
90.742
17 827
56 50E
37.378
1.970
151
246
580
324
207
462
89.069
11.724
5.899
21336
7.073
29.870
13.167
67,027
2 124
3.998
17.440
4.956
4.276
34.233
77,437
3.57=1
4294
27.896
1.575
32.856
7.237
258.952
1 1 .BtiS
26.149
67.253
33.374
20.950
99.381
5,656,741
50-1441
323 662
1 675 487
1574.24?
959 281
613.528
1,618
47
C)
357
C)
103
556
9.926
Hotels and other lodging places
Personal services
Business services
Auto repair, miscellaneous repa"' servicer
Amusement and lecrealton £en/;ces
Other services
915
CI
2.400
Cl
1 444
3905
2,169
n
ri
n
546
716
1,643
18.038
C)
Cl
Footnotes at end of table See text lor -Expl^natior. of Terms'* and '■Description of the Sample and Limitations ol the Data '
Corporation Returns/1974
133
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 20.— Tax Preference Items: Number of Returns, and Tax Preference and Related Items, by Tax Preference Status, by Major
Industry— Continued
[All figures are esiimales based on samples— money amaunis arf' m thous^nis oi 'loiiatsl
Returns with la» prelerence items
Total
receipts
Number of
returns
Normal tai, surtai, and
alternative tai
Before credits
Number ol
returns
Finance, Insurance, and real estate .
Banking . -
CfM't agencies oifier tr>ari banks
Secutily commodity brokers and services
InBuiance
Insurance agenl. brokers and service
Real esiale
Molding and Olher investmeni companies, eicepi bank holding companies
Hotels and other lodging places
Personal services
Busness services
Aulo repair, miscellaneous repair services
Amusement and recreation sen/ices
Oiner services
115)
(16)
All industries -
Agriculture, forestry and fishing
Mining
Metal mining . ■ . .
Coal mining
Oil and gas extraction
Nonmeialhc mirverals, e«cept luels
Construction
General budding conlraclois and operative builders
Heavy construction conlf actors . -
Special trade contraclofs
Manufacturing
Food and kindred pioducis
Tobacco manutaclures -
Texiile mill products
Apparel and other textile products
Lumber and wood products
Furniture and li»lures . . .
Paper and allied products
Pnnling and publishir>g
Chemicals and allied products ,
Pelioleum (including integrated) and coal products
Rubber and miscellaneous plastics products
Leather and leather products
Slone clay and glass products
Pnmary metal industries
Fabncated metal products
Machinery, eicepi eleclncal
Electrical and electronic equipmeni
Motor vehicles and equipment
Trans[)ortation equipment except nxitoi vehicles
Instruments and related products
Miscellaneous manulaclunng and manufacturing nol allocable
Transportation and public utiltlies
Transportation
Communica1>on
Electric gas and sanitary services
Wholesale and retail trade
Wholesale trade
Groceries and related products
Machinery, equipment, and supplies
Miscellaneous wholesale trade
Relatl trade
Building materials garden supplies and mobile home dealets
General merchandise stores
Food stores
Automotive dealers and service stations
Apparel and accessory stores
Furniture and home lurnishmgs stores
Ealing and dnnhmg places
Miscellaneous relait stores
Wholesale and retail trade not allocable
1,029
470
134
190
1,042
639
132
271
5.239
2449
19S
5,438
3,715
77
255
152
8 003
I 570
2.274
Nature ol business not allocable
30.009.363
6,740225
6,597 562
11910,526
4 761050
17.493,877
e. 665, 359
6,749 348
2.079.170
704.724.622
50 339.230
11.288.084
10.904.193
3335.990
17,888.704
2.210.983
21530 260
13256487
67,177,065
155 768 016
12 943,756
2 198 246
17 478 606
69 417,666
19 206 189
64 142 694
48,445 253
72,474,473
25 555 989
13.345,929
5 917,009
338.547.091
58 736015
103.854,039
175 957,03?
88,975.462
37,351,889
1 789,451
3562313
32,000.125
51.623,573
1 803 261
32.877,739
7.653,036
2453,328
669.062
1,107,473
3.024 260
2,135,4)4
1.547.692,388
978,214,145
276 134,293
9 562 04 1
254,552,581
436,253
19.788,229
9 004 846
19.855.295
4 730.393
726426
5 442 880
441,494
4,952,967
3 561 135
(•)
1,576.452,094
4,120.870
22.204,801
3.776,173
7,806,768
6 437 396
4 IB4 464
22,695,623
'0.030,505
9533.122
3 1 3 1 996
959.756.623
98.749.047
11,071 248
16.792.873
5,550,683
18 876.686
3,591,219
28 013,729
15 659 697
92 185 046
271.007 433
16872.133
3.268.454
18 816.743
77 617 031
27,542,434
60,852 263
51 173,789
96.624,067
34 356.628
15 103 991
5 83 J. 629
150.986.682
41, 59.;. 495
46 628 465
62 763 722
206.667,486
93 724 344
10 762 207
6 181 653
76 780 484
114 943,142
3 659 636
54 128 156
37 346,282
6 359.872
1415,687
2 130.949
5 074,083
4 828 477
191.086,245
75.670.806
31858 911
1 784,086
75 131,137
425 741
J B69 723
1 345 839
16,654.402
3 552050
1 139 328
4 164 773
391,690
4,204,886
3 401.675
6,060
906
4,910
2 315
89.375,329
264.169
3.111,816
438,591
1,183 519
1,063,131
426 577
S3 1.450
315 032
377 841
138 577
4,421 361
995 797
741 347
245 696
1,466 909
216415
2.668,640
1.415 083
8 193,708
19.940.122
565.108
87,763
890,221
5,388 173
1,863 161
5 672,699
2,043043
? 624 491
1.133,196
1 488 689
330,394
8.279.072
2,025 879
3.300 396
2 952 797
5.030.799
2 815 807
135 697
413.200
2 266,910
2.214.992
111,504
918.544
430,989
236.799
40.314
64,433
220.647
171.762
8,494.213
2.760 558
979,485
144 792
3.569.674
82.012
606,600
351 102
964.517
124 403
104 468
248.785
27,947
341.757
117.137
4,834.419
68.307
136,254
(■)
99,602
20,562
108 167
56 842
12.839
1.51S.515
181,068
1602
107.171
27 943
156 169
(*1
(■)
23.660
(•)
16.157
n
59.327
(•)
52 054
146.279
208,525
269 348
59 439
65,420
19.238
1,043.152
371.696
CI
667,459
267,920
155,792
(■)
132.128
8,822
59 782
(■)
38,901
49,399
(•)
36 175
15,931
15.624
29
603
627
435
177 293
513,560
408,055
174,421
1.594
354,531
720
396
<7B
130697
164426
59.406
6.234
26,101,954
909
9
236
157
330
2059 300
466,187
346051
110,770
502 001
155
219
472
344
110
100056
1 171 732
642,226
3 801,510
6,944,424
179
40
42B
31S
602
263,915
39.773
401,491
2 293 497
655 155
727
266
112
100
122
160
2665,214
903,416
1,195,742
464.782
701.839
152,673
955
3,786.063
597
102
256
836 932
1 587 632
1 361 299
4.999
2,291.119
2,359
187
455
1 717
1,273,870
62.025
187,248
1024,597
2640
328
156
202
617
1.017,249
47.953
431.570
197.029
109.102
238
160
529
16.702
38.204
99135
4 800
1,244,094
3 544
452,321
69
47 841
215
1451 757
149
37 411
6 639
215,868
1 329
74 864
1.928
418,365
334
54.835
165
48.315
547
100 866
299
11 156
235
152.419
333
50 794
3.510
37,392.522
628
107,225
1.737
1.223,643
24
160.101
569
503370
727
392.924
417
167,248
1.458
351,422
651
129,453
344
162825
463
59 144
5.929
25,800,728
672
2 054 501
8
463 623
216
344065
151
110,506
30/
490078
149
99.674
201
1 168,050
466
640 399
334
3,787 787
96
6,750610
160
261 782
■It
39,549
396
395,250
308
2274632
in
852,701
70?
2,656,147
271
668.509
107
1,188.690
87
461.^31
114
700,318
173
151,956
892
3,756,822
570
627 159
101
1 574 389
221
1 155 274
4.870
2,280,790
2 307
1.267 482
185
61,916
449
96,423
1,668
1 19,143
2 566
1013,306
377
47,636
148
429,806
199
196 256
606
106,536
235
16 603
179
36,166
496
96,691
363
77412
4 509
1,214,302
3 493
416,677
66
47629
1/B
1 449,593
143
37,363
6 445
212 291
1 301
73,667
1,851
414.678
314
54,104
155
46,138
534
99,626
299
10,998
CI
CI
Foolnoles at end ol table See tenl lor Explanation of Terms' and Description ol the Sample and Limitations ol the Data
134
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 20.— Tax Preference Items: Number of Returns, and Tax Preference and Related Items, by Tax Preference Status, by Major
Industry — Continued
[All tigures are estimates based on samples— money amoiinis are in ihousands at donarsj
Returns with tai preference items— Continued
Income tax— Continued
Normal lax. surtax,
and alternative
lai— Continued
After credits
Tax tfom
recomputing
prior year
Investment
credit
Tax from
recomputing
prior year
worh
incentive
(WrN) credit
Additional tai (or tax preferer^ces
Amount deterred
from prtor years
All Industries
Agriculture, forestry, and fishing
Mining
Melal mining
Coal mining
Oil and gas eidraction
NonmeJallic minerals e«cepl fuels
General tiuildtng conliactofs and operative builders
Heavy conslruclion contradois
Special trade conlraclo's
Food and kmdfed producls
Tobacco manulaclures
Texlile mill producls
Apparel and other textile producls
Lumber and wood products
Furniture and lixlufes
Paper and allied products
Printing and publishing
Chemicals and allied producls
Petroleum (including mtegraled) and coal products
Rubber and miscellaneous plastics producls
Leather and leather producls
Stone, clay, and glass products
Primary metal industries
Fabricaled metal products
Machinery, except electrical
Electncal and electronic equipment
Motor vehicles and equipment
Transponation equipment, except molor vehicles
Instrumenls and (elated products
Miscellaneous manulaclunng and manulaclunng not allocable
Transportation and pubttc ulillttes
Transporlaiion
Communicalion
Elecirrc gas and sanitary services
Wholesale and retail trade .
Wholesale trade
Groceries and related products
Machinery, equipment, and supplies
Miscellaneous wholesale trade
Retail trade
Building matenals garden supplies and mobile home dealers
General merchandise stores
Food stores
Automotive dealers and service stations
Apparel and accessory stores
Fufnilure and home lumishings stores
Ealmg and Onnking places
Miscellaneous retail stores
Wholesale and retail trade nol allocable
Finance. Insurance, and real estate
Banking
Credit agencies other than banks
Security, commodity brokers and services
Insurance
Insurance agents. Brokers and sendee
Real estate
Holding and other mveslmenl companies, except bank holding companies
Services - ■
Hotels and other lodging places
Personal sen/ices
Business services
Auto repair, miscellaneous repair services
Amusement and recreation sen/ices
Other services . , , ,
Nature of business not allocable
1.636
24,817,954
581
98.836
).56S
872.488
?4
90026
VM
414 440
6?3
290 209
38a
77811
1.375
279.072
B?i)
96 963
?ai
128.580
455
53 529
5.609
15.872.428
flOO
1 660 188
7
279 043
200
309,486
149
103,689
307
390 003
144
91,525
1W
949,490
43n
573,511
V-l
2762213
96
1 838 009
160
165,706
39
37,605
3?;)
258 824
/HI
1662 409
762
716,381
660
1 710583
?4<1
596 146
96
685.926
B3
405 522
11?
550,571
170
125 594
610
2.745.064
5?3
550,843
101
1,098,471
186
1,095 750
1,S9S
1,904,069
???9
1049,379
169
56 935
434
172 298
1,626
820,146
2,366
854,690
322
46,311
148
359496
197
165,451
600
77,651
178
14 941
179
36 907
363
66 063
379
67870
5,6S9
2,706,651
4 2B3
623,260
3 438
400,619
86
45,126
177
1.329.684
143
32.464
6,286
203.821
1 295
71.657
1,602
336.351
297
46.699
148
45,375
527
88413
209
7869
202
106.491
2 546
1,837
158
2.088
1.628
12 650
7508
2 127
182
2 497
4663
2.220
8.847
10 391
6 549
3 093
1 519
467
3326
13431
5 172
6.234
2,704
109
576
2019
3,530
117
1405
773
545
47,219
16994
9560
14,392
6 273
1.631
932
619
CI
222.841
CI
CI
CI
9 744
CI
3 736
14.197
4.490
CI
CI
7.300
6447
653
4.083
3.673
246
3.427
CI
CI
I'l
CI
608
25.439
2.301
32 733
—
CI
CI
CI
C)
CI
—
I'l
C)
CI
410
3,152
41
667
CI
CI
8.463
4.605
665
1007
2 186
271
n
n
293
23
964
153
491
323
Foolnoles a1 end ol lable See lexl lor Explanation o1 Terms ' anrj ■ Descriptron ol the Sample and Limilations ol Ihe Dala
Corporation Returns/1974
135
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 20— Tax Preference Items: Number of Returns, and Tax Preference and Related Items, by Tax Preference Status, by Major
Industry— Continued
[All figures arc eslimales based on samples— money amounis are m thousands ol dollarsi
Toral Items of tai
preference
Relurns with lai prelerence items— Cof>tinued
Sialulory exclusion
Number of
returns
Total tai preference ttems
(ess statutory eiclusior>
Number ol
returns
Income tai available as z
Current year
Number ol
relurns
All industries
Agriculture, forestry, and fisfitng
(Mining
Ueidl mining
Coal mmmg
Oil and gas eitraciion
Nonmelallic minerals e»cepl luels
General building conlraclors and operative builders
Heavy construction conlraclors
Special Irade conlraclors
Food and kindred producls _
Tobacco manulaciures ... ...
Tenlile mill products
Apparel and oir^er lexltle p'Oducis
Lumbe' and wood products
Furmlore and Imlures
Paper and allied products
Printing and publisri<ng . . .
Chemicals and allied products
Petroleum (including integrated) and coal products
Rubber and miscellaneous plashes products
Lealfier and lealtier products
Stone day and glass products
Primary metal industries
Fabricated metal products
Macfiinery, except elecli-cai
Electrical and electronic equipment , ,
Motor vehicles and equipment
Transportation equipment, encept motor vehicles
Instruments and related products
Miscellaneous manulactunng and manu'aciu'ing not allocable
Transportation and public ulilrlies
riansponalioii
Communication
Electric gas. and samiary services
Wfiolesale and retail trade
Wholesale trade ....
Groceries and related products
Mactiinery. equipment, and supplies
Miscellaneous wholesale trade
Retail trade
Building materials, garden supplies and mobile home dealers
General meict^andise stores
Food stores
Automotive dealers and service stations
Apparel and accessory stores
Fuinilu'e and home Ijrnishmgs stores
Ealmg and dnnhmg places
Miscellaneous relai' stores
Wholesale and retail trade nol allocable
Finance. Insurance, and real estate
Banking , . .
Credit agencies otr>er than banks
Secunty commodity brokers and services
Insurance
Insurance agents, brokers and service
Real estate
Holding and other investment companies, except bank holding companies
Hotels and olhei lodgmq places
Personal services . . , . . . .
Business services
Auto recaif miscellaneous repair services
Amusement and recreation services
Other igfvice^
Nature ot business not allocable
(36)
39,260
757
2.t49
3?
3.714
77
255
152
7 978
1.570
2.274
424
186
626
34.968
t. 074,241
212,335
373 788
368.150
119,968
70.492
33.128
29 248
9 116
104 658
116,7)3
20.664
3 520
465219
5.760
242,004
63.026
366,566
3,529,339
20,267
1.799
124 049
584.197
49.856
117,532
104.610
195 762
59.010
26,649
12 295
573.525
275.538
32 794
265 193
230.946
123.104
3.733
12.215
107.156
107 842
9,787
49,265
13 806
5,994
1750
1,934
10,983
14,323
1,912.172
786 351
804.679
5718
75 549
1 991
161863
75 821
74.607
21.062
t,990
9.951
2.041
26,575
12 968
{•)
2,396
355
159
518.009
B.649
46.906
960
15 578
21 59'
11,93)
217
3,773
1238
4,688
2.008
3,24 1
5,464
5.814
2.071
2,330
477
7,476
4,627
8 146
8 39
4 946
2.336
1.8)0
19
2066
t,33t
4.896
42,659
22 950
2 009
3.950
16.991
19.709
2344
1875
3.646
3,265
1.222
939
3,854
2,364
262,341
104 909
96.689
1.420
3.922
!693
3617
3.785
3 276
1592
50)
1.027.330
211 376
358.210
346.550
1)1)95
51.297
24 638
22 620
4,039
92.728
116.496
16.891
2282
460,534
3.752
238 764
57.563
360,752
3 527,269
17,936
1,322
116.576
579.5
41 714
109 143
99,865
193.425
57 200
24.665
10.228
558.387
266,627
31 464
260,296
188.282
100,153
I 724
8,263
90,166
68129
7 440
47.390
9.959
2.730
528
7 128
11,959
1.629.847
681 445
109,780
53,872
56.678
16.316
n
6.133
(■)
22.607,499
54.629
857,163
90,229
411 342
279.147
76,445
159,971
14.684,274
1 531,839
278,159
263.539
69 267
370,866
72074
903 413
492,178
2.658,891
1 797,605
141,060
27 196
240,658
t 589 185
545 548
1 584 746
531.095
807,322
374,533
517,387
67.513
2,635.676
497 451
1 063.579
1,074 648
1,359.358
649 854
37,392
95,214
517,246
709,504
23,782
339,545
149.695
42,703
5217
27,395
73.750
47,217
1.954
<76270
?9H)
392,761
;ii
41 169
117
1.287 948
"1
CI
1«S
135 480
399
57652
275
238.14I
?6
44396
■|
I'j
t)^
52 005
5
4.368
52
88.303
52
29 973
1381
13.944.138
63.510
112.986
CI
66.635
37.844
CI
7.389,058
991 301
{•1
176.202
33.677
132,538
64,494
166,150
391.801
1,251,667
45513
82,176
CI
254 156
244,242
272 902
398.352
733,433
1 462.969
358.824
206.162
64.677
281.713
I'l
1,492.700
1,671.925
411,283
n
6,897
398 072
1260,642
29,455
1,084 194
93,609
I'l
89
26.046
CI
974
1.332.576
970
834 913
34?
45,882
11
8819
47
319,046
451
81570
146
41 602
127
116.599
51
24619
19
24 458
25
47217
m
14 207
Footnotes at end o' 'able See IckI for Explanation of Terms ' and Description o( the Sample and Limitations ol the Data
136
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 11208 AND 1120-DISC
Table 20.— Tax Preference Items: Number of Returns, and Tax Preference and Related Items, by Tax Preference Status, by Major
Industry — Continued
|AII ligures
are estimates based on samoles— monev amounts are in IhousanO^. of 1011.
■^]
Returns
with ta« preference items afte
statutory exclusion and incom
e fai used as an offset
Number of
returns
Selected items of tai preference
Accelerated depreciation on—
Amonization of—
Depletion
Low-Income rental
housing
Other rea
property
Certified pollution
control facilities
Railroad rolling stock
Number ol
returns
Number of
returns
Amount
Number of
returns
Amount
Number ot
returns
Amount
Number of
returns
Amount
(39)
«0)
(411
1421
(431
|44|
1451
1461
(47)
(481
(491
5,219
90
3.742
1.421
162.604
38
25.913
21
97,846
1.156
4 319 689
792
n
Cl
55
939
Cl
Cl
_
792
666.487
24
270
379
119
CI
CI
Cl
Cl
e
Cl
Cl
22
243
Cl
Cl
112
Cl
Cl
-
-
24
270
379
119
169412
Coal mining
Oil and gas exlraclion
Nonmelailic fxiineois, excepi luels
157314
233,817
65,944
166
81
57
CI
CI
CI
Cl
I'l
Cl
too
69
23
Cl
14.398
12,033
1329
Cl
C)
Cl
Cl
Cl
Cl
Cl
-
-
81
Cl
51
Cl
11 624
General butldmg conlraclors and operaiive buildefs
Heavy conslfuction conltaclOfS
Special ifade contractors
Cl
8230
Cl
277
10
163
139
57.343
19
1.455
Cl
132
3 502 657
Food and kindred producls
Tobacco manulaclures
Textile mill producls
Apparel and oihei textile p'oducts
Lumber and wood producls
18
n
CI
19
CI
Cl
14
Cl
Cl
Cl
7
1.340
Cl
Cl
Cl
1.811
Cl
Cl
Cl
Cl
3
Cl
10 466
Cl
225
Furniluie and (ixtur.j
Paper and allied products
Pnnling and publls^llng
Cfiemicals and alhed pfoducis
Petroleum (including inlegraled) and coal products
CI
C)
Cl
9
38
4
15
Cl
Cl
5
23
Cl
Cl
971
27.260
Cl
Cl
I
I
Cl
Cl
Cl
6
36
Cl
Cl
Cl
10.903
3,250,602
Rubber and miscellaneous plastics producls
Lealtier and leather producls
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
3
C)
57
11
17
3
C)
Cl
141
Cl
Cl
3
23
8
Cl
221
1.764
1 494
Cl
5
4
Cl
697
286
Cl
I
-_
Cl
53
8
Cl
Cl
31902
190,165
Cl
Mactiinery, except electrical
Motor vehicles and equipment
Transportation equipment, except motor vehicles
inslrufnenls and related products
[^Miscellaneous manolactufmg and manulactunng not allocable
19
to
3
C)
-
-
10
9
Cl
Cl
3
1,742
6,419
Cl
Cl
22-^
I'l
Cl
Cl
Cl
2
\
6
Cl
Cl
Cl
1 132
Cl
Cl
Cl
64
_
_
40
7841
10
24.244
1^
71.310
26
64,848
Transportation
Communication
Electnc. gas. and samiarv services
"1
;
31
9
5916
1,923
6
4
13 428
10,816
"
71 310
21
5
53 227
11,621
Wholesale and retail trade
82
Cl
Cl
60
8,662
-
-
-
24
34,016
Wholesale trade
Grocenes and related producls
Machinery, equipment, and supplies
Miscellaneous wholesale trade
i7
2
^
30
Cl
Cl
24
4045
Cl
Cl
3,676
I
^
\
20
Cl
18
33.693
Cl
30,966
Retail trade
Building materials, garden supplies, and mobile home
35
n
b
1')
(*)
Cl
Cl
Cl
Cl
30
5
Cl
Cl
4817
3862
Cl
Cl
-
-
-
~-
4
Cl
Cl
Cl
323
C)
Food stores
Automotive dealers and service stations
Cl
CI
I'l
Cl
Cl
Cl
Cl
-
~
-
-
Cl
_
Fuinilure and home lurnishmgs stores
Eating and dnnkmg places
Miscellaneous retail stores
Wholesale and retail trade not allocable
Cl
3,736
56
2.272
971
61.881
3
114
9
25.802
85
29.881
Banking . .
Credit agencies olher than bank
Security, commodity brokers and services
Insurance
709
2,377
CI
20
16
15
Cl
101
42
Cl
211
318
Cl
15
19371
5616
Cl
3,261
Cl
Cl
8
Cl
13.670
17
16
3
254
261
36
Insurance agents brokers, and service
Real estate
CI
506
20
970
401
31 260
Cl
Cl
I
~
16
26,111
Holding and other investment companies. e>gept bank
holding companies
117
Cl
Cl
23
2006
-
-
-
-
29
3,217
Services
87
Cl
Cl
53
11.417
Cl
Cl
-
-
5
2,542
Hotels and other lodging places
Personal services
Business services
Aulo repair, miscellaneous repair sen/ices
Amusement and recreation services
29
CI
12
|-|
13
Cl
Cl
27
Cl
Cl
Cl
Cl
7,196
Cl
Cl
Cl
Cl
i')
-
Cl
^
;
Cl
Cl
Cl
Cl
Cl
Cl
Cl
Cl
-
-
Footnotes at end ol table See text for ' Explanahon of Terms and Description of ihe Sample and Limitations of the Data "
Corporation Returns/1974
137
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 20.— Tax Preference Items: Number of Returns, and Tax Preference and Related Items, by Tax Preference Status, by Major
Industry— Continued
[All Itgufes are esiimates basf^d on samples— money amounis are m ihousands of dollars]
Industry
All industries
Agriculture, forestry, and fishing
Mining
Metal mining
Coal nimmg
Oil and gas exiraciion
Nonmeiallic min(;rals. eicept fuels
Construction
General buildmg conttaclors and operative builders .
Heavy construction conlraclors
Special Kade conliaclors
Food and kirKlred products
Tobacco manufaclures
Textile mill products
Apparel and oiher tentiie products
Lumber and wood products
Furnilu'e and lixlures
Paper and allied producis
Pfidtinij and puCliSfimg
Chemicals and allied prcxJucis
Petroleum (including mteyraled) and coal products
Rubber and miscellaneous plastics products
Leathei and leattier pioducts
Sione. clay and glass products
Primary metal industries
Fabncaled mela) products
Macfiirery eicepi elecKical
ElecUical and electronic equipmeni
Molar vehicles and equipment
Transportation equipment, except motor vefiides
InsKumenis and related products
Miscellaneous manulacfunng and manufacturing
not atloc.abie
Transportation and put>lic utilities
Transportation
Communication
Electric gas. and sanitary services
Wholesale and retail trade
Wholesale irade . .
Grocenes and related products
Mac^lnery equipment and supplies
Miscellaneous wholesale Irade
Retail Irade
Building materials, gaiden supplies, and mobile home
dealers
General merchandise stores
Food stores
Automotive dealers and service stations
Apparel and accessory stores
Furniture and home furnishings stores
Ealing and dnnktng places
Miscellaneous retail stores
Wholesale and retail trade not allocable
Finance, insurance, and real estate .
Banking
Credit agencies other than banks
Securily commodity brokers and services
Insurance
Insurance agenls. brokers and service
Real estate
Holding and other investment companies, except bank
holding companies .. .
Hotels and other lodging pl2:^=>
Personal services
Business services
Ayto repair, miscellaneous repair services
Amusement and lecieauon services
Other services , .
Nature of business not atlocabte
Selected Hems of tai
preference— Continued
t,214
Returns with fai preference items after slatutory exclusion and income tai used as an oflsel— Continued
Total Items
of lax
preferences'
69J.39S
6.430.850
D
9.250
46.979
714.487
9^-5-1
15.669
20.312
1.754
173.2'0
254 496
87 BIO
J.006
31.291
2 006
CI
(■)
17 148
11 ?94
n
492.S19
4.059,658
(■)
12?6.
3 119
65396
l"l
CI
5 400
67.581
67 166
8.741
6200
CI
CI
CI
19 735
23.974
7,975
151
SlalulorY
exclusion
CI
C)
48 036
197 34
2 657
9 356
48 21
CI
CI
CI
736.177
211 402
24 775
52.254
43,937
CI
CI
40,398
CI
CI
1,305,3110
745 768
CI
6 296
CI
78 192
30.961
22.353
8015
CI
1 504
CI
3 345
7 650
11076
3 271
CI
7.732
450
l"l
Cl
CI
510
CI
CI
CI
CI
1,1
CI
CI
1,710
330
510
525
CI
CI
{■I
CI
1,836
1 416
420
2,010
Total tax
preference
Items less
slatutory
exclusion
(541
1 32'.^
CI
CI
CI
600
9,269
3,395
2,471
791
CI
6.285,782
8,800
691.762
198,191
165.615
243 41j
84 539
4,051.927
11 ei7
Income tax available as an ottset
Current year
Numt}er ot
returns
46326
197017
8831
47 946
C)
234.341
209 986
24 355
50.244
42 617
1*1
CI
39.288
422 210
676 845
CI
5 696
CI
68 944
27 567
19.883
7228
CI
1 204
2.970
461
2 260
CI
CI
CI
211
29
19
235.876
74 246
67 966
62 868
30 776
3.187
1551
1,463
CI
CI
CI
163 407
Cl
4 885
1 462 709
7 381
68 626
Cl
1 357
Cl
Cl
Cl
147,074
146,106
96B
7.513
6112
Cl
52-1
Cl
98,929
345 698
Cl
Cl
Cl
25 273
14 422
3,973
Cl
Cl
8 4%
15.488
Cl
Total tax
preference
Items less
statutory
exclusion
and income
lax used
as an offset
159)
_
CI
2 955
35.975
127 98C
1,602
5019
;i;'4
4e..26J
Cl
Cl
3.547.752
e.023
444.975
123.601
96.836
176 982
45 266
22.073
13 118
(•)
2.244.591
6.734
(•)
D
{•)
99.154
(•)
Cl
Tentative
additional
(a I for tax
preferences
87.178
63 791
-
23.387
42.421
Cl "
36 443
Cl
Cl
33,956
5 976
. -
Cl
29,745
1,235
Cl
Cl
745
293,529
329 905
Cl
4,237
Cl
42B88
544
12,601
939
t4.%9
899
Cl
5 408
Cl
662
:
Cl
2,415
Fuoinoles at end ol tabic See text for Explanation of Terms" and Description of the Sample and Limitations oi tfie Data
138
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 20.— Tax Preference Items: Number of Returns, and Tax Preference and Related Items, by Tax Preference Status, by Major
Industry— Continued
[All ligures are estimates based on samples— money amounis are m thousands of dollars|
fleturns with lai preference items after statu
used as an offset— Co
ory eiclusion a
ntinued
nd income ta«
fieturns
wilh lai prelerence Hems based on—
Net operating loss
for 1974 remaining
as a carryover to a
succeeding year
Deterred
additional
lai tor lai
preferences
Tenlalive additional lai
lor lai preferences less
determent
Additional
tax for tax
preferences
deferred
from prior
years
Additional
tax lor lax
preferences
Depreciation
Industry
Accelerated deprecia-
tion tai preferences
Depreciation deduction
Number of
returns
Amount
Number of
returns
Amount
Number ol
returns
Amount
Number of
returns
Amount
(611
(62)
1631
(641
(651
(661
(671
(681
(691
(701
(711
set
(*)
2.204.218
CI
22.399
CI
4,490
7
332,229
97
12.346
344.582
97
20.760
161
923.715
3,092
20.599
161
64.472
114
CI
99
n
88
134.430
CI
106 239
CI
11.380
5,706
CI
4,490
CI
841
716
24
269
312
111
90
38,750
12 369
6 897
13 375
4 089
1.361
8,081
4 605
Cl
1,007
Cl
271
46,837
16994
9 559
14,392
5,892
1,631
181
13
36
35
97
1,024
2.095
458
469
880
288
26.674
181
13
36
35
97
1.024
476.869
Melal mining
Coal mining
Oil and gas exiraciton
155.194
153.605
108.771
59.299
Construction
396.200
General butldmg conlractors and operative builders
Heavy conslfuclion conlraclors
Special itade contraclors
56
f)
,'l
38 335
CI
CI
602
CI
CI
37
Cl
710
572
Cl
Cl
I'l
Cl
932
619
Cl
563
198
263
19,787
3,933
2 954
563
198
263
137.464
217,514
41222
69
7
CI
CI
CI
3
488.346
72 282
CI
CI
CI
44 012
4,383
825
CI
CI
CI
172
213
Cl
Cl
Cl
16
220,087
Cl
Cl
Cl
9,744
2,133
1*1
Cl
222,222
Cl
Cl
Cl
9 744
4,897
655
8
329
133
228
493,319
49, rW
6,877
12,456
2712
5693
4,890
652
8
329
133
228
23.010.409
Food and hmdred products
Tobacco manufaclures
Textile mill pioducis
Apparel and other textile products
Lumber and wood products
1 513,834
231.753
500.107
75.208
562.573
Furniture and fixtures
Paper and allied products
Printing and publistimg
Chemicals and allied products
Petroleum (including integrated) and coal products
CI
3
CI
CI
6 798
CI
CI
18
CI
Cl
Cl
Cl
6
31
Cl
Cl
Cl
968
185,857
Cl
Cl
Cl
Cl
968
186 106
102
169
337
309
71
4,052
13,080
16789
70 917
28.940
102
169
337
309
70
73.209
729.720
429.744
2,865.449
3,350,753
Rubber and miscellaneous plastics products
Leather and leather products
Stone, clay, and glass products
Primary melal induslnes
Fabricated melal products
CI
CI
CI
CI
CI
CI
CI
CI
CI
CI
10
CI
CI
315
CI
Cl
Cl
47
9
Cl
Cl
Cl
3,266
12 482
Cl
Cl
1 435
Cl
6
Cl
3,570
13917
Cl
174
23
587
13 409
747
14,546
53,081
15804
174
23
264
267
587
562,309
18.056
723.439
2.340,248
641.208
Eleclrical and electronic equipment
Motor vehicles and equipment
Transportation equipment, except motor vehicles
Instruments and related products
Mtscellaneous manutaclunng and manulactunng not allocable
5
4
CI
CI
CI
64 008
19,475
C)
CI
CI
287
137
CI
CI
CI
Cl
6
Cl
Cl
3
Cl
4,490
Cl
Cl
446
Cl
Cl
Cl
4 490
338
Cl
Cl
511
281
94
too
121
134
49,206
36656
63113
17 288
15,138
4098
511
278
94
too
121
134
2510.249
1569.440
2,717,860
974,140
565.004
136 106
2,178
49
6,535
6.785
610
81,198
609
15.359.245
CI
-
6
CI
141 216
CI
41
8
5976
559
Cl
6 148
Cl
316
108
166
17,752
26 337
?: 109
315
toe
186
2230.209
Communication
Electric, gas, and sanilarv services
6,818,058
6 310 978
40
15
CI
CI
CI
93,969
21885
CI
CI
CI
474
259
CI
CI
CI
42
32
C>
29
3.767
3 380
Cl
3 134
Cl
Cl
Cl
4.058
3664
Cl
3418
3,226
1 538
147
297
1,094
87,565
23,056
1 680
2,607
18,769
3,221
1,538
147
297
1,094
1,879.954
Wholesale trade
Groceries and related products
Machinery, equipment, and supplies
Miscellaneous wholesale trade
519,535
52,131
62.240
405,164
Retail trade
Building malenals, garden supplies, and mobile home
dealers
General merchandise stores
Food stores
Automotive dealers and service stations
25
CI
3
CI
CI
72084
CI
27 171
Cl
1"l
215
Cl
79
Cl
Cl
Cl
Cl
Cl
Cl
Cl
Cl
Cl
Cl
Cl
Cl
Cl
1,688
208
126
113
369
64 509
5,709
37,828
8642
2,534
1,683
208
126
113
369
1,360.419
43,175
713.866
353.581
59.750
Apparel and accessory stores
Furniture and home furmsfiings stores
Ealing and drmking places
Miscellaneous reiail stores
Wholesale and retail trade not allocable
C)
C)
CI
CI
Cl
Cl
Cl
Cl
5j
Cl
147
119
446
161
1,040
1,269
5478
2,009
147
118
441
161
12.545
16.332
113.632
47538
477
882.722
7.611
3.325
60.431
1,055
61.486
9.192
184.528
9.044
2.960,133
Banking
Credit agencies other than banks
Security, commodity brokers and sen/ices
Insurance
Insurance agents, brokers, and service
135
83
CI
167
166,211
32.759
CI
520,057
122.469
4,884
376
C)
386
1,572
599
2,299
Cl
Cl
Cl
375
24,474
32 581
Cl
Cl
Cl
2,661
866
Cl
160
25 341
32 609
Cl
Cl
Cl
2821
1,935
528
14
153
52
6349
49,014
8 080
650
51,994
274
70,008
1,934
528
13
153
52
6,247
1.621,645
235,070
5,178
606,962
5.515
440,143
Holding and olher investment companies, except bank
holding companies
76
32,434
566
41
667
-
667
161
4,508
117
45620
49
13
CI
3
CI
3
24.287
13257
CI
1,229
CI
943
298
157
C)
2
Cl
8
48
21
Cl
Cl
Cl
Cl
1.201
332
Cl
Cl
Cl
C)
Cl
Cl
Cl
Cl
1.466
476
Cl
Cl
Cl
l"l
1.462
372
97
297
115
203
179
<S.14S
16628
661
3,847
134
•4 966
1.462
372
97
297
115
203
3-8
928.534
Hotels and other lodging places
Personal servrces
Business services
Auto repair, miscellaneous repair sen/ices
Amusement and recreation services
Other services
208 144
60 761
230670
35 112
300 322
93,505
-
-
—
—
-
-
-
Cl
I'l
Cl
Cl
Footnoles at end ol table See text for Explanation ol Terms and Description ol the Sample and Limitations ol the Dala
Corporation Returns/ 1974
139
RETURNS OF ACTIVE CORPORATIONS. OTHER THAN FORMS 1120S AND 1120-DISC
Table 20.— Tax Preference Items: Number of Returns, and Tax Preference and Related Items, by Tax Preference Status, by Major
Industry— Continued
[All figures
are eslifnaies based on samples— money amounts are m ih
>usa^as •:' ]uilarsj
Returns wilh tan preference
Items based on— Continued
Amortization
Depletion
Net long
term capital ga
n reduced
Amortiiation lai
preferences
Amortization
deduction
Depletion
tai
preference
Depletion
deduction
Capital
gams tat
preference
Net long-term capital gam
by net snort-term capital loss
Total
Amount
alternat
taied at
Number of
returns
Amount
Number of
returns
Amount
Number o1
returns
Amount
ve rates
Number of
returns
Amount
Number of
returns
Amount
(72)
(73)
1741
l?5l
1761
1771
(781
(791
(801
(811
1821
(831
465
208.613
305
286,422
5,713.948
4,370
11,591.208
1.883.062
14.796
4.906.114
13.481
4.854.658
Agnculture. forestry, and fishing
5
124
3
38
10.522
179
12.724
21.013
511
53.273
425
51.865
Mining
n
n
ri
(•)
Cl
C)
Ct
1.008.317
202 297
350 837
340 449
114 734
2,079
32
603
998
446
1.237,079
209,569
391 417
462,923
173.170
63.786
Cl
22 491
26 786
4 937
499
9
129
241
120
164.825
25 440
53 617
72069
13 699
495
9
129
237
120
164,476
25.440
53.617
71.720
13699
Metal minify
Ot and gas ei if action
Nonmeiallic minefals. eicepi fuels
5
2
Coostruclfon
(•)
(■)
Cl
n
20.837
286
23.020
22,583
809
55.790
771
55.442
General building contfactors and ooe'alive
buikJefs
Heavy conslructKjn contraciO'S
Speoai trade contractofs
Cl
C)
C)
Cl ~
Cl
3 599
16035
1,204
81
167
38
4,031
17,669
1320
9 686
6 935
3 962
327
193
289
24 290
23.326
6.174
302
181
268
24.200
23.071
8.171
Manufacturtng
307
40.434
203
52.390
4.335.917
564
9.713.126
1.337.557
2.932
3.494.032
2.819
J.489.678
Food and kindred products ...
Tobacco manufaclures
Teitile mtii ptoducls
Apparel and other le»tiie product
Lumber and wood products
33
Cl
t9
7
2.370
n
1288
1,867
J6
Cl
Cl
7
5 576
Cl
Cl
3363
20 167
78 949
Cl
Cl
9927
35
Cl
Cl
Cl
32
22S94
Cl
Cl
Cl
1 093 049
31 709
31 749
5 560
706
446735
467
4
95
55
158
68,376
3.811
12 982
1 750
1.226,567
437
4
92
52
145
68 342
3,811
12.401
1 747
1.225BI3
Furnilure and lutures
Paper and aHied products
Pfinlinq and publishing
Chemicals and allied products
Petroleum (including tniegrated) and coal
products
n
2i
30
9
Cl
3,220
Cl
2^6
251
Cl
16
7
18
5
Cl
3,286
2591
2744
3,256
Cl
5,967
Cl
1S1 281
3426770
Cl
15
13
56
65
Cl
70 861
41943
228,124
7,440,480
1,435
219588
44 345
112124
73,372
73
102
208
162
52
3,125
573,702
112,632
266 101
213,007
61
94
195
158
52
2.609
573.682
112.133
266.0%
213.007
Rubber and misceilaneous plasties products
Leather and leather p'oducis
Stone, day and glass products
Pnmary metal industries
Fabncated meiai products
(*)
40
?9
C)
C)
1,518
6.642
1606
3
Cl
J5
17
152
Cl
5,222
8,793
2711
Cl
Cl
77514
474 373
5652
Cl
Cl
230
46
17
Cl
Cl
80 567
593,209
5.909
6,399
978
30,463
50085
26 797
57
20
183
122
378
10,368
1.291
83.454
120,585
69 345
49
20
177
122
378
10.108
1.291
83,124
120.585
69 345
Electrical and electronic equipment
Motor vehicles and equipment
Transportation equipment, except motor vehicles
24
9
1.248
13.866
2.006
13
1?
8
9
1.686
S05
8 170
2,054
20537
S091
Cl
Cl
18
to
8
6
20 994
5 236
.10 577
17 709
46 545
52 640
109 311
22,288
422
129
65
42
1 16 044
228 14 7
289 041
59 469
416
127
65
42
114 80?
228 103
289.041
59.469
Instruments and related products
MisCGitaneouS manuraclunnq and manufacturing
not allocable
n
3
C)
38
Cl
Cl
Cl
Cl
Cl
Cl
Cl
3
Cl
4 76
11086
3 640
63
75
24849
9.366
59
24.809
9360
6&
135 091
58
227 774
215 833
291 859
141.018
96,738
6.395
37 885
597
395
45
154
370.957
261399
13399
96,159
576
393
45
138
366.474
260 963
13.399
92,112
Transponaiion
CommiffucaliOn
Eiecinc gas. and sanitary services
26
CI
36
96.665
Cl
36.380
2'
Cl
33
166050
Cl
61.681
63 990
Cl
151.818
62
Cl
73
72 554
Cl
219,296
Wholesale and retail trade
I*)
n
Cl
Cl
Cl
(•)
I'l
Cl
Cl
Cl
61 178
162
245 630
81.211
4-07t
1 582
4 603
40 886
2.455
1 166
76
212
878
193,342
1 1 1 686
3,880
11317
96489
2.339
1.092
75
208
839
190.491
110.452
3,762
11208
95.482
Cl
C)
C)
Cl
Cl
Cl
52 663
470
4 921
47 272
3
17
97
218 405
482
5 958
211.955
Groceries ar^d related products
Machinery, equipment, and supplies
Miscellaneous wholesale (rade
Retail trade
Building materia'* garden supplies, and
mobile home dealers
General merchandise slores
Food stores
Auiomoiive dealers and service stations
Cl
Cl
Cl
Cl
Cl
C)
Cl
8 515
Cl
I'l
Cl
45
Cl
3
3
9
27 225
Cl
2,28?
2
16S72
34 140
3 726
10,723
5 155
3 093
1283
211
58
125
312
81656
9 450
28229
9180
6,773
■ 247
207
55
125
295
80 039
9.394
28.213
9160
6656
Apparel and accessory stores
Furniture and home lurnishmgs stores
Eating and dnnking places
Miscellaneous retail stores
Wholesale and retail trade noi allocable
I
;
2
^
Cl
Cl
Cl
Cl
Cl
Cl
i'l
Cl
Cl
Cl
554
5 449
4.730
Cl
70
139
280
Cl
1 471
13595
9 244
Cl
70
133
263
Cl
1.471
13.253
8. 158
191.018
33.730
21295
4236
20 455
1 715
58 949
50638
S.301
t,9«5
531
47
102
tlO
'614
-■52
470.667
88,955
55.157
10193
43 273
4 967
148485
119 837
Banking
Credit agencies other ihan banks
Security commodity brokers and services
Insurance
Insurance agenis, broKers and service
Real estate ,
e«cept bank ho'dmg companies
22
Cl
C)
C)
I'l
Cl
16,818
Cl
n
ri
Cl
19
Cl
C)
3
Cl
3974
Cl
Cl
■31
Cl
2 938
293
Cl
1337
Cl
32696
20 0CS
130
17
{'>
31
Cl
25'
3 335
45
Cl
1555
Cl
36127
22 -12
2013
621
46
115
114
2,126
1 103
E9 666
55 959
10.198
51895
4 567
155515
■■3f 579
Services
!•)
1")
Cl
Cl
3.085
93
3.611
24.617
843
66.309
753
64.678
Hotels and other lodging places
Personal services
Business services
Aulc repair, miscellaneous repair services
Amusement and recrealMjn services ,
Other services
1")
Cl
Cl
Cl
C)
Cl
Cl
Cl
Cl
■l
Cl
ct
Cl
\'l
I'l
Cl
5
784
ri
Cl
2 211
3 678
1 329
5 594
792
It 132
2,092
71
96
307
184
lie
77
10,805
4,660
15 783
1.366
27 101
6,391
53
66
278
134
76
74
10,171
486]
15.715
1.366
26.174
6,391
-
-
-
-
Cl
Cl
Cl
iS9
Cl
Cl
Cl
Cl
Cl Estimate is not shown separately because of llie small number of sample returns on wriich
'Includes the following amounts wtuch are not shown separately accelerated deprecialion on
NOTE Credits includes foreign lax, in«es'meni and work incentive (WIN) credits See lexi 'or
It was based However, the data arc included m tf^e appiopriate totals
persofiai property subiect toa net lease. S4U.O0O ancj reserve for losses on bad debts. Sl.l
Enplanalion of Terms' and 'Oescriplion of the Sample and Limitations o' ine Data "
140
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 21.— Tax Preference Items: Number of Returns, and Tax Preference and Related Items, by Size of Total Assets
|Ali ligufes are esiimales based on samples— money amounis are in thousands ot clQiiats|
Total Active Corporation Returns Other Than
Forms 1120S and 1120-DISC
Total numbei 0( lelurns
Nel long-lerm capilal gain reduced by nel short
lerm capilal loss, lolal
Amount taxed al allernslive rales
Additional tai tor lax pieterences loial
Amount delerred from pnoi yea'S
Returns Witti Tax Preterence Items
Total iicms o( lax pie^^ie'ici'
Stalutory exclusion
tolal la* preference items less bldliilory exiLfiiSion
Income lax available as an ollset
Cuirenl year
Carryover
Returrts Witr^ Tai Pielerence Items After
Statutory Eiclusion and Income Tax
Used as an Offset
Number of returns
Items ol lax prelerence
Acceieraled deprecialion on—
Low-income rental housing
Oihe' real properly
Amorliration ol—
Certified pollution conlrol lacililies
Railroad rolling slock
Reserves lor losses on bad debis ol iinancial
insliljtions
Oeplfclion
Capital gams
Total (terns ol lax ptelerence'
Slaluiorv exclusion
Total ta« prelerence items less slalulor^ eiclusion
Income tai available as an oflsel
Current year
Carryover
Total lax prelerence items less statutory exclusion
and income la« used as an oflsel
Tentative additional tax lor tax prelerpnce^
Nel operating loss lor 1974 remaining as a carryover
lo a succeiiding year
Deterred additional lax lot lai preferences
Tenlalive additional lax lor tax preferences less
determent
Addiiionai lax lor tax preterences deterred irom
pnor years
Additional tax lot tax preterences
Returns With h4o Tai Prelerence Items After
Statutory Exclusion and income Ta<
Used as an 0»lset
Tola! ilenis ol tax prefero>nce w'vn equal to statuiurv
exclusion
Total items of lax prelerence on returns with la*
preference items at'e' staljtor, ficlustor
Income lax avaitafcie oS an of'sfi
Current year
Ca'^over
Returns With Specific Tax Preference Items
Accelerated deprecialion lax preleten^e^
Depreciation deduction
Amortization lai preferences
Amorlizalion deduction
Depletion tax preterence
Depteiion deduction
pi elei trice
reduced by r
Reserve lo' bad debt I
Bad debl deduction
Capital gams lax prek-nvnc
Net long-term capital gai
term capilal loss, luiai
Amouni taxed at allernatKL
Returns With Net Operating loss for 1974
Remaining as a Carryover to a Succeeding Year
Total items ol lax preference
Total items ol ia> pc^li^.teiice less \.\a'.-j\\!y ■.■..■I'j'.i'-- ■
Income lax available as a''. ciKet
Curreil year
Carryover
Tax Irom recomputing pnor year investment credit
Tax from recomputing pnor year woth incentive
(WINi credit
Tolal Items ol lax preleferice less statulon' cxc'usicn
and income lax us^r* as an oKsel
Tentative additional ta< loi lax preferences
Nel cperaii'ig 'os'i '■jrf i,nirq aj a c.-^rryover lo a
succt'Jing year
Defeirc-d additional ;ax for lax orCtrcnc^-s
Tenlalive additional tax fc tax prefp'enc.s icjs
de'ermfnl
Number ol
returns
1 OB. 732
33 825
4 572
261
39,260
37.363
14,368
90
1421
3,742
162.804
38
21
25913
97,846
2,967
1 156
1 214
1 125,833
4 319689
692 395
5219
4 962
5219
6 430 850
145 079
6 285 782
3 752
370
2 676 381
61 574
5219
5219
3,547 762
354,643
661
861
2,204 218
22399
4 490
332 229
182
4 493
12,346
344 582
20 760
20 599
465
305
4,535
4 370
7,954
7949
14,960
7 740064
5 222 122
346 734
10 185,217
518,009
9,667 229
22,607499
13 092 612
Size of total assets
Number of
returns
16J,2r
3,59', 15;
19 931 118
13 031,038
923,715
45,077012
208,613
286,422
5,713.948
11 591 208
1452,639
3,120018
1 883,062
5,763
285,682
20,540
2 204 218
22 399
50 600
3,045
72,613
19 126
1 726
76,630
6 801
69831
SI under S500.000
49.933
CI
873
58 831
3 744
55.089
81 042
90 301
3.456
75928
CI
CI
11.922
12949
57.084
60.666
4 094
12 504
12.370
39 2': 7
84
39 061
3.900
66.890
3 385
64.729
9539
10.081
9.623
1.135
55J3
5.460
3.634
2.899
66 625
49 175
17 350
26.560
8 012
13 832
5.910
7.922
ri
C)
5.809
CI
CI
CI
CI
20 372
24 641
CI
7.551
69 991
19.303
22.454
5500,000 under SI. 000.000
13-474
6165
5 142
4.781
CI
CI
2.150
2.125
1.865
CI
270 344
114814
1.353
CI
74.336
40.721
33.616
16.914
6.326
25229
6.927
18.313
Sl.000.000 under S5.000.000
Number ot
returns
CI
1.353
21 145
27.964
10.911
93.895
CI
30.633
31.504
CI
CI
32.714
69.115
63.388
14845
6.770
8 538
8.052
2 476
6.062
1.855
1.067
1.042
332
3S2
3.482
3.438
3 270
Foolnoles at end u- laliit- iee te*t fc- tv-.lanal'on ot lerrns ;ind ' Descriplio'i ol irie SampiG and I iniilations of file Data
Corporation Returns/ 1974
141
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 21.— Tax Preference' Items: Number of Returns, and Tax Preference and Related Items, by Size of Total Assets— Continued
[All ligufes are eslimales based on samples— money amounls are in Ihousands ot aollarsl
Sue ol total assets-Continued
SS.OOO.OOO under
SlO.OOO.OOO under
S25.OOO.0OO under
S50.000.000 under
StOO.OOO.OOO under
x^cn nn/1 ru
Item
SlO.OOO.OOO
S25.0OO.000
550,000.000
$100,000,000
S250.O00.OOO
SZSO.DttO.OtAi or more
Number ol
returns
Amount
Number of
returns
Amouni
Number ol
returns
Amount
Number ot
returns
Amount
NtJmber ot
returns
Amount
Number ol
returns
Amount
fit)
(121
1131
(141
1151
116)
|17)
(18)
(191
120)
(21)
(22)
Total Active Cofporatlon Returns Oltier
Than Forms tt20S and 1 120— DISC
Total number ol returns
14,649
_
11750
_
5231
_
2.663
_
1.965
_
1.777
Net long-term capital gam reducer] by net
stionlerm cap.tat loss, total
3.623
313.905
3.664
407.186
1912
327.830
1 197
339.325
936
655.463
1.107
4 160 768
Amouni taxed at alternative rates
2 444
167.895
2.787
201.592
1390
130.008
S45
212.422
665
345.290
796
3 596.726
Additional ta« lor la» preterences, total
194
2618
788
5.985
910
7.829
695
11.757
501
20 409
396
290456
Amount deterred Irom prior years
22
258
33
503
a
730
19
714
22
1674
28
10 198
Returns WItti Tai Preference Items
Total Items ot ta« preference
3 269
181.196
4 560
347232
2 768
323 151
1 770
432.183
1.285
659.377
1.354
7.749.657
Statutory exclusion
3 134
49 917
4 460
93 137
2 695
66 174
1 71J
45.383
1246
34.361
1.294
37.197
Tolal tax prelerence Items less statutory
exclusion
1 148
131294
2.331
254.101
1980
256972
1455
366.794
1.140
625.016
1.279
7.712.461
Income ta> available as an oflsel
CurrenI year
96t
272.607
2.054
646140
1 770
821 773
1287
1.260.420
998
2372527
1.106
16.763.889
Carryover
359
102878
630
152474
483
427941
345
577.441
286
1205100
432
10.478.767
Returns tWitti Tai Preference Items After
Statutory Eircluslon and Income Tai Used
as ao Offset
Number ol returns
249
_
880
_
957
_
740
_
552
_
458
Items ol ta> preference
Accelerated depreciation on—
Low-income rental housing
n
I'l
6
408
7
521
6
1642
C)
(■)
41
158
Other real property
121
6.469
170
1O540
193
9355
170
8.187
149
19.892
246
98 281
Amortization 01—
Cerlifred cKjIlulion control lacilities
1*1
|-|
n
Cf
CI
CI
CI
CI
I'l
CI
23
25.646
Railroad rolling stocK
-
-
ri
CI
-
-
-
-
-
20
97.265
Hesenres for losses on bad debts of financial
institutions
22
1231
648
51.409
839
105755
648
144.689
463
191 150
302
581 666
Depletion
109
44.151
116
70753
51
57.400
58
94.607
47
179.327
100
3.782752
Capital gams
47
tl 108
129
19.680
146
10.419
132
23659
137
33.601
182
558.388
Total Items of tai prelerence'
249
63.324
880
153 904
957
183312
740
273089
552
424.861
458
5.144.195
Statutory exclusion
242
7.197
869
25925
955
28589
728
21.707
546
16338
451
13.503
Total ta» prelerence items less statutory
exclusion
249
56.130
880
127.963
957
155.219
740
251 378
552
408 525
458
5130 680
Income tax available as an oflsel
Cunenl year
114
22.380
686
60.269
826
73665
640
115 930
457
189690
355
2 176.384
Carryover
t*l
(■)
76
1.716
52
1.155
35
2.416
37
3.696
51
49.836
Tolal lax preference items less statutory
and income tax used as an offset
249
32.225
880
65.%9
957
80 407
740
133.019
552
215.151
458
2.904.456
Tentative additional tax for tax preferences
249
3211
880
6 590
957
8018
740
13 302
552
21.505
458
290.453
Net operating loss for 197d remaining as
a carryover 10 a succeeding year
74
29.538
113
67.074
61
59 655
64
138.553
62
163 943
83
1.642.697
Deferred additional lax lor la< prelerences
74
652
113
1.108
61
918
64
2.259
62
2772
83
10.198
Tentative additional tax for lax preferences less
deferment
197
2 559
779
5482
904
7 too
689
1 1 .043
496
18 734
384
280.257
Additional lax for lax preferences deferred
from prior years
CI
ft
24
474
16
475
14
580
17
1 399
18
8.977
Additional lax lor lax prelerences
187
2803
779
5956
904
7 574
690
11623
496
20 13-1
386
289.235
Returns tftfith No Tax Preference Items
After Statutory Exclusion and Income
Tax Used as an Offset
Total Items of tax preference when equal
to statutory exclusion
2121
21.899
2249
28.534
788
9816
315
3 970
145
1.847
75
894
Total Items of lax preference on returns with
lax preference items alter statutory exclusion
899
95.973
1451
164794
1023
129 523
715
155124
588
232.669
821
2 604 578
Income tax available as an onset
Cunenl year
847
250 227
1368
587.851
944
748 108
64 7
1.144.490
541
2 182.837
751
14 587.505
Carryover
346
101.355
554
150756
431
426786
J10
576 025
249
1 201 404
381
10 428 931
Retttms with Spccittc Tax Prelerence Items
Acceferaled depreciation lax prelerences
1.654
27 935
1.914
40.538
1 162
41.621
811
42.716
667
76 315
988
631007
Depreciation deduction
1648
433 150
1.911
743218
1 161
914.931
811
1 174 962
667
2 415.039
987
38 644 212
Amortiialion tax preferences
39
866
49
2.159
29
1050
39
3 857
48
5952
174
193903
Amoriiiation deduction
16
385
28
2.907
18
1.314
23
4.884
32
5 960
156
270.622
Depletion tax prelerence
323
80 154
330
134 286
160
92.089
131
137.368
131
234 382
344
4.847 719
Depletion deduction
309
89 279
316
149608
153
108165
125
190.886
129
301.331
330
10 547 607
Reserve lor bad debt lax preference
988
18826
2.541
102 069
1 697
141 108
1.064
173.479
1^52
214475
506
742 402
Bad debl deduction
988
22033
2.539
124.315
1.697
171.875
1064
206771
652
264.259
506
2 265 990
Capital gams tax prelerence
1092
53227
1529
67186
969
46.679
653
74505
547
127.484
733
1 334.601
Net long-term capital gain reduced by nel
snort-term capital loss total
1.081
136 763
1515
177 569
963
118 832
649
198 672
546
319890
726
3538.706
Amouni taxed al alternative rales
1.045
136.078
1.466
175.631
943
118.462
643
198.201
534
319.026
708
3 516009
Returns With Net Operating Loss lor 1974
Remaining as a Carryover to a
Succeeding Year
Total items 01 lax prelerence
-
-
CI
C)
-
_
O
Ct
C)
Cl
C)
Cl
Total Items ol tax preference less slatulonr
excluSK)n
74
7942
113
12334
61
12 389
bJ
23 886
62
35 988
83
1472/5
Income lax available as an offset
CurrenI year
—
—
6
261
4
6
5
2
'?
88
22
365
Carryover
-
-
6
85
CI
CI
J
62
891
10
4 450
Tax from recomputing prior year investment
credit
I'l
("1
15
25
9
6
7
2
25
125
37
639
Tax Irom recomputing prior year work incentive
(WIN) credil
—
—
—
—
—
—
-
—
—
—
—
—
Total Items of tax preference less statutory
exclusion and income" lax used
as an onset
74
7 942
113
11 989
61
12340
64
23 822
62
35010
83
142 458
Tentative additional lax for lax preterences
74
793
113
1 199
61
1232
64
2 385
62
3 500
83
14 248
Nel operating loss remaining as a cairyover
to a succeeding year
74
29 538
113
67 074
61
59655
64
138 553
62
163.943
83
1642 897
Deterred additional tax lor tax preferences
74
652
113
1 108
61
918
64
2.259
62
2772
83
10 198
Tentative additional tax lor lax prelerences less
deleimeni
ri
ri
12
91
8
31.1
13
126
6
729
9
4 052
I'l Estimate is not shown separalelv because ol Ihe small number o! sample relurns on wtiich it was based Howevef, the daia are included m the appropnaie lo'als
Includes Ihe loHowmg arnounl which is nol shown separately accelerated deprecialion on personal property subiecl lo a nel lease, S4 id 000
NOTE See lext tor E«p'anation ol Terms and Description ol Ihe Sample and Limilations ol the Data
142
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 22.— Tax Preference and Related Items, by Income Status, by Normal Tax, Surtax, and Alternative Tax Status, by Size of Total
Items of Tax Preference
[All ligufes are eslimales based on samples— money amounls are in thousands ol dollafs]
Number ol
returns
Total
assets
Total
receipts
Net income
Oelicrt
Income lai
Income status, normal tax, surtax, and
alternative tax status, size ot total
items ot tax preference
Numt)er ol
returns
Amount
Total
Normal tai
surtai and
allernalive lai
Number ot
returns
Amount
Number ot
returns
Amount
(1)
121
(31
l«l
151
161
|7|
HI
(91
IIOI
Total active corporation returns other than Forms 1120S and 1120-DISC
1,626,334
3.952.766.527
2.941.467.104
1.008.367
160.552.880
23.046.106
888.263
66,108,421
871,550
65.SB2.130
Relums witn net income
Returns wilhoul net income
I 006 367
617 967
3226727,049
726 039 478
2,522.791 598
418,675 506
1 006 367
160 552 8BO
23 046 106
87:-' 832
15431
66 072 856
35 563
871 525
25
65 580.982
1 138
Returns witti tai preference items:
Total
39 289
2751003,976
1,576 452 094
34 752
89 375 329
4 834 419
35 060
37 860 599
33 510
37 392 522
Tolal ilems ol lax prelerence—
Under Si 0.000
SIO.OOO under S30.000
530,000
S3 1000 under S40 000
S40.000 under S50.000
19.649
7 061
269
1 718
I486
103 983874
100 886 523
5318000
44 710843
36 692 288
76.654,448
68 017 331
2 299 576
25594 785
17 424 689
17 303
6267
233
1468
1 301
3,827 499
3 091464
91694
1 155 060
987 488
439 164
429 892
10 400
194 328
123 548
17 141
6.184
244
1533
1372
1632 244
1342 069
40.090
487 844
441 726
16717
6009
225
1425
1272
1627943
1 338 574
39 851
486 368
440.0S4
S50.000 under 560,000
560.000 undef 575.000
575,000 under S100 000
SlOOOOO under 5150.000
5150,000 under S250 000
1.068
1,074
1369
1 344
1.399
38,682 800
45 600 265
64 968.175
95 195 764
132 291 162
17,834 643
21 537 390
36 925 063
54,371.564
57.831,979
963
944
1.227
1.203
1,289
748 540
941 541
1.744 156
2,242 948
2,834,880
133 300
216 382
274 426
462 723
278,430
1 006
992
1231
1288
1.342
336 360
425708
747,496
1007 522
1236537
930
915
1.136
1.175
1250
334.728
423 372
744 368
toot 762
1 225 044
S250.000 under 5500.000
5500.000 under Sl.OOO.OOO
Si. 000.000 under 55,000,000
55,000,000 under 510,000.000
310,000.000 or more
1.262
668
657
88
128
252,698 626
270 945057
604,530 006
241,512.948
712 639 708
115 250 807
131 156 759
263 829,413
105,720,167
561,892,025
1 136
600
586
79
124
5 344,663
6,022 571
14,668.459
5168 580
40 495987
420 153
361 119
969,110
401468
119 976
1215
642
630
83
128
2419217
2 707 001
6 560 923
2 310,208
16 163 669
1093
580
560
77
120
2 400 085
2 685.120
6.501 198
2,278 739
15.663.580
No tolal Ilems ot tax preference shown
n
(*)
I'l
(*1
CI
-
CI
CI
CI
CI
Wtth normal lax. surtax, and allernalive lax belore cedils. Iota!
33510
2 277.150,952
1349210562
33,507
86 542 303
CI
33510
37 802 530
33 510
37 392522
Tolal Ilems ot lax preterence-
Undet 510.000
510,000 under S30.000
S3O,0?O
S3 1.000 under 540.000
540,000 under S50.000
16,717
6009
225
1425
1,272
68.999,926
73 036,883
4,482 863
32 592 266
31 060 468
64 345040
54.576.179
2084 665
20.624 685
14 685.830
16717
6,006
225
1,425
1271
3751.271
3.026 063
90 4 74
1 137 945
977.101
CI
CI
16 717
6009
225
1425
1272
1 631 560
1,341 543
40 065
487 576
441 518
16 717
6 009
225
1425
1.272
1.627 943
1.338 574
39 851
486 368
440 084
550,000 under 560.000
560,000 under 575,000
575,000 under 5100.000
5100,000 under 5150,000
5150,000 under 5250.000
930
915
1 136
1,175
1,250
31671472
32,328,085
4 1 478,693
66,258612
102,652,191
13,855,953
15,936,457
26 726 056
38.527 694
48.239 965
930
915
1.136
1.175
1.250
740.790
935.771
1.626.414
2.189.335
2 776531
2
930
915
1 136
1-175
1,250
336052
424826
746 999
1006 473
1 234 931
930
915
1 136
1.175
1.250
334 728
423372
744 368
I.OOl 762
1 225.044
5250,000 under S500.000
5500,000 under Sl.OOO.OOO
51 000 000 under 55,000.000
55,000.000 under SIO.OOO 000
510,000 000 or more
1,093
580
560
77
120
180 020734
193,698690
511,729 502
221,807,587
685.149,941
91.591.860
112.946 030
251,095.238
87,240,610
506 453 119
1092
580
560
77
120
5227.423
5912198
14.377 584
5 143.206
38 623.899
CI
1093
560
560
77
120
2416,218
2702.723
6,550 884
2306832
16132317
1.093
580
560
77
120
2 400 085
2 685 120
6.501 198
2 278 739
15 863.580
No total 'lems ol lax prelerence shown
(■)
CI
n
CI
CI
-
CI
CI
("1
CI
W.lhoul normal lax. surtax, and allernalive lax belore ciedils total
5779
473853,024
227,241,532
1,245
2,833,026
4819,421
1 550
58,069
-
-
Tolal ilems ol ta» prelerence—
Under 510 000
510.000 under 530.000
S30.000
S31 000 under $40,000
540.000 under 550.000
2,932
1,072
4d
293
2lt
34 983 948
27,849,640
835,137
12 118.577
5631820
12,309.408
13,441,152
214,911
4.970 100
2 538.859
586
259
8
43
30
76228
66,401
1,220
17115
10,387
439 164
428.435
10.400
194,328
114,973
424
175
CI
108
too
584
526
CI
268
208
2
I
550,000 under S60.000
S60.000 under 575,000
575.000 under SlOOOOO
SIOO.OOO under S150 000
5150,000 undei 5250.000
138
159
233
169
149
7,011,328
13.272,160
23489,482
28.937 152
29 638,971
3.978,690
5,600.933
10,199 007
15,843,870
9.592014
33
29
91
28
39
7750
5,770
117 742
53613
58,349
133,300
216382
274426
462,723
278,430
76
77
95
113
92
308
882
497
1 049
1,606
-
\
$250,000 under 5500 000
S500.000 under 51,000.000
51.000.000 under 55 000,000
55,000,000 under SIO 000.000
510.000 000 or more
169
88
97
11
6
72,677.892
77.246.367
92.800.504
19.705.361
27 489 867
23.658 947
18,210 729
32,734,175
18,479,557
55 438,906
44
20
26
CI
4
117,240
110373
290875
CI
1 872088
415,187
361 119
969,110
401,468
119 976
122
62
70
6
8
2 999
4278
10 039
3376
31 352
-
\
No lolal Items o! Ia< prelerence shown
i'l
ri
CI
(■)
'■'
-
■'
'1
-
-
Foolnoles al end ol lable See le-l lot Explanation ol Terms ' and Description ol Ihe Sample and Limtlalions ol Ihe Data
Corporation Returns/ 1974
143
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 11208 AND 1120-DISC
Table 22.— Tax Preference and Related Items, by Income Status, by Normal Tax, Surtax, and Alternative Tax Status, by Size of Total
Items of Tax Preference— Continued
[All ftgures are eslimales based on samples— mone
y amounts an:
in ihousanit:
Ol dollars!
Income tjx— Continued
Foreign
tax
credit
Investfrent
credit
Income status, normal tai. sorta», and
Tax from
recomputing
prior year
investment
credit
Tai from
recomputing
prior year
Work incen-
tive (WIN)
credit
Additional tax for tax preferences
Wort,
alternative ta> slalus. size of tolal
Items ol la» preference
Total
Amount deterred from
prior years
incentive
(WIN)
Number of
returns
Amount
Number of
returns
Amount
credit
till
1121
|13|
(141
115)
(161
1171
(18)
(191
Total active corporation returns otfrer ttian Forms 1t?0S and II20-0ISC
179.121
446
4,572
4 163
419
346,734
335 202
11532
261
254
Cl
14.498
14 409
C)
20.752.819
20 762 819
4,221,384
147
7,795
7 796
Returns with net income
Returns without npt income
156 256
22 865
418
28
Returns with tax preference items
Tolal
121 057
286
4 672
346 734
261
14.498
9.462 623
3 107 976
4 069
Tolal Items ol la« pielerence—
Untjer SIO.OOO
SIO.OOO under 530,000
530,000
S31.000 under S40000
S40,000 under S500O0
4 185
3 401
144
1392
1 397
I'l
I'l
O
127
73
I'l
149
213
112
85
CI
77
244
I'l
I'l
C)
I'l
C)
C)
C)
C)
C)
I'l
27 355
44.046
Cl
14060
24.051
81 6t6
71.195
2.127
35 598
24 945
273
136
C)
80
41
S50,000 under S60 000
560,000 under 575,000
$75,000 under 5100,000
5100,000 under 5150 000
5 150.000 under 5250,000
1312
1549
1836
2 944
5496
n
C]
!■)
I'l
CI
285
412
505
626
739
314
786
1,292
2810
5991
C)
C)
Cl
14
26
I'l
Cl
C)
107
157
5718
20516
22.200
38.066
83.202
20 622
39.571
41,591
78.039
87,400
52
33
163
too
193
5250,000 under S500 000
5500,000 under 51,000,000
51,000,000 under 55,000.000
55,000,000 under 510,000,000
510,000,000 or more
7 492
9804
22,729
17,000
40,376
CI
CI
37
44
158
674
326
297
36
67
11,636
12 075
36,959
14425
269556
27
21
32
5
8
493
1 113
3455
764
7 708
322.888
367.522
1087.110
498663
6916912
172,228
224 342
604,928
207,562
1,416,114
187
343
1,024
379
1,073
No Iota! Items ol tan preference shown
-
-
C)
I'l
C)
Cl
-
(•)
-
With normal tai surtax, and allernative lai belore credits, total
112 172
260
3 869
297 676
153
11 101
9.462 523
3 107,976
4 069
Total Items ol Ia» prelerence—
Under 510,000
510,000 under 530.000
530.000
S3 1.000 under 510.000
540.000 under 550.000
3 646
2 935
119
1,155
1,312
CI
CI
CI
(')
I'l
42
Cl
90
137
C)
29
CI
46
121
Cl
I'l
C)
C)
C)
C)
C)
Cl
Cl
C)
C)
C)
C)
Cl
C)
Cl
C)
C)
C)
Cl
27366
44.046
316
14 060
24.051
5716
2C6I5
22.200
38065
83.202
81615
71,195
2 127
35 596
24,945
20 622
39,571
41,591
78,039
87,400
273
136
2
80
550.000 under 560000
560 000 under 575 000
575.000 under 5100.000
SIOO.OOO under 5150.000
5150.000 under 5250.000
1 126
844
1 617
2 465
4 889
CI
C)
CI
CI
CI
242
367
447
663
676
190
608
1014
2240
4,992
52
33
153
100
193
5250.000 under 5500000
5500.000 under 51.000.000
51.000 000 under 55.000.000
55.000.000 under 510 000 000
SIO.000.000 or more
6 546
7946
21596
16762
40313
C)
C)
37
23
15S
603
267
252
31
61
9,584
9756
26,063
12 308
228266
C)
11
25
4
6
Cl
780
2 702
642
6.300
322 888
367522
1.087.110
498.663
6916.912
172,228
224 342
604.928
207,562
t 416.114
187
343
1024
379
1 073
No total Items ol lax prelerence shown
-
-
C)
Cl
Cl
Cl
-
(•)
-
Without normal tax surtax, and alternative tax beloie credits, total
8 885
CI
703
49158
108
3397
-
-
_
Total Items ot tax prelerence—
Under SIO.OOO
510.000 under 530 000
530.000
S31.000 under 540.000
540.000 under 550.000
639
466
CI
237
85
I'l
I'l
64
31
CI
59
76
46
66
Cl
31
123
C)
C)
C)
Cl
C)
Cl
:
i
\
550.000 under 560 000
560000 under S75.000
575.000 under 5100000
SIOO.OOO under 5150.000
SI50.000 under 5250.000
184
705
219
479
607
C)
43
55
68
73
63
124
177
278
670
999
Cl
Cl
C)
5
C)
Cl
Cl
Cl
35
C)
~
3
\
5250.000 under 5500.000
5500.000 under 51000.000
51.000.000 under 55.000.000
56.000.000 under 510.000.000
510000,000 or more
946
1 969
1,133
1,238
63
CI
I'l
71
38
45
6
6
2052
2,319
8 906
2,117
31289
15
10
7
Cl
Cl
361
333
763
Cl
Cl
-
\
\
No total Items ol tax preference shown
-
-
CI
ri
Cl
Cl
-
-
-
Footnote?, al end o( table See lext tor Explanation ol Tefms and Oesctiptton ol Ihe Sample and Limrtalions ol trie Data
144
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 22.— Tax Preference and Related Items, by Income Status, by Normal Tax, Surtax, and Alternative Tax Status, by Size of Total
Items of Tax Preference — Continued
|AII figures are eslimales based on samples— money amounls are
in thousands ol dollars)
Selected items ol lax preference
Accelerated depreciation on—
Amortization ol—
Income status, normal ta». surta*. and
alternative tax status, sue ol total
Items 0) tax prelerence
Low-income
rental housing
Other rea
property
Personal property
subiect to
a nel lease
CenilieO pollution
control (acilities
Railroad rolling stock
Number ol
returns
AmounI
Number ol
returns
Amount
Number of
returns
AmounI
Number ol
returns
AmounI
Number ol
returns
Amount
(20)
(21)
(221
(231
(2»l
(251
(261
(271
(281
(291
Total active corporation returns other ttian Forms I120S and 1120-DISC
550
18,668
20,133
900.771
356
4,276
413
76,402
64
132.137
Returns with net income
Returns witfioul net income
430
120
12,293
6375
16,989
3144
782,307
118,464
300
56
3 861
415
361
52
58,497
17905
57
7
123.986
e.151
Returns with tax preference Items:
Toial
550
18 66B
20 133
900,771
356
4276
413
76402
64
132,137
Tolal ilems ol Ian preletence-
Under SIO.OOO
S 10.000 under 530,000
S30.000
S3 1.000 under 540,000
540.000 under S50.000
227
68
22
19
629
700
489
651
12359
3 114
74
644
494
26 809
38,448
1031
14 297
12,643
260
43
CI
CI
CI
553
410
CI
CI
CI
46
70
CI
16
23
174
997
CI
137
657
CI
CI
CI
CI
CI
CI
550,000 under 560,000
560,000 under S75 00O
S76.000 under 5100,000
5100.000 under SlSO.OOO
5150.000 under 5250.000
4
7
ri
21
13
112
149
I'l
1.232
666
362
421
425
474
502
10930
14 292
20 856
28 573
40 165
CI
6
5
5
6
CI
32
211
186
950
11
9
20
21
25
230
276
527
869
1 751
CI
CI
3
CI
CI
639
5250.000 under $500,000
5500,000 under 51,000,000
51,000,000 under 55,000,000
55,000,000 under 510,000.000
510,000,000 or more
27
37
4d
27
2,604
3,451
5,260
24
1808
469
270
356
67
102
76 305
69 143
224,953
85624
236 702
CI
4
3
CI
785
644
35
27
54
17
36
4,991
4 363
22 410
8,409
30,625
3
10
21
3
16
563
4401
25 401
10,275
90,663
No total items of tax preference shown
-
-
-
-
-
-
-
-
-
-
Wilh normal tax surtax and allernalive la« before credils. lolal
407
11 720
16293
758,481
296
3840
358
58,230
56
119,658
Tolal Items ol lax prelerence—
Under $10,000
$10,000 under 530,000
530,000
$31,000 under 540,000
$40,000 under 550 000
176
41
(■)
16
7
424
376
n
379
220
10134
2447
62
487
393
21,040
28,140
683
9,719
8 756
217
33
CI
.CI
CI
365
325
CI
CI
CI
45
52
CI
15
14
173
771
CI
134
370
I'l
I'l
CI
n
CI
CI
SSO.OOO under 560,000
560.000 under 575,000
575,000 under 5100,000
S100.000 under 5150,000
5150,000 under 5250,000
I'l
17
112
109
1*)
1054
406
267
322
332
380
419
6923
9,218
14,315
19,963
30,456
CI
6
3
5
6
CI
32
116
186
950
10
8
18
18
23
199
212
497
696
1 700
I'l
I'l
3
CI
CI
639
S250,00J under 5500,000
5500,000 under 51,000,000
51,000,000 under 55,000,000
55,000,000 under $10,000,000
510,000.000 or more
16
28
38
Id
27
1309
2718
2 386
24
1808
363
220
308
61
96
52,860
52,903
191,753
75,960
235572
("1
4
CI
CI
785
CI
30
26
46
34
3,893
3,947
17,109
1 690
26 773
3
9
14
3
16
563
4,364
12.959
10,275
90 663
No lolal Items ol lax prelerence shown
-
-
-
-
-
-
-
-
-
-
Withoul normal lax. surtax, and allernative lax be'ore credits, lolal
143
6,948
3,840
142,290
60
436
55
18 172
8
12.479
Tolal Items of lax preference—
Under 510,000
StOOOO under S3O,00O
530.000
51
27
205
324
2,225
667
12
5,769
10,306
148
CI
CI
CI
CI
CI
CI
I'l
1*1
I'l
CI
-
-
S3l 000 under 540,000
540.000 under 550.000
O
(■}
I")
CI
157
101
4,578
3 867
CI
CI
CI
CI
CI
CI
I'l
I'l
-
-
$50,000 under $60,000
560,000 under 575,000
575,000 under 5100,000
$100,000 under $150,000
5150,000 under 5250,000
4
6
D
1*1
178
260
95
99
93
94
83
4,007
5074
6,541
8 610
9 709
CI
CI
CI
>.')
CI
3
CI
I'l
CI
CI
193
I'l
-
-
5250.000 under 5600,000
5500,000 under 5VOOO,000
51,000,000 under $5,000,000
S5.000.000 under 510,000,000
510.000.000 or more
11
9
6
1,295
733
2,872
106
50
48
6
4
23,425
16240
33,200
9664
1,130
CI
CI
CI
CI
5
CI
6
3
CI
1,096
CI
5,301
6719
CI
CI
7
CI
12,442
No total >iems ol tax prelerence shown
-
-
—
-
-
-
-
-
-
Footnotes at end ol table See le»l lor Explanation of Terms' and ■Descriplion of Ihe Sample and Limitalions ol the Data
Corporation Returns/1974
145
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 22.— Tax Preference and Related Items, by Income Status, by Normal Tax, Surtax, and Alternative Tax Status, by Size of Total
Items of Tax Preference— Continued
(All figures are esiimaies based on samples -money aoiounis a^e in ihQusanLJs pi cloliara|
Income status, normal lai, surtax. arKl
alternative tai status, size or total
Items o( tai preference
Total active cofporalion returns other than Forms 1120S and 1120-OISC
Reiufns with net income
Returns without net income
Returns with lai preference items
Total
Total items o' ta» prelefCnce—
UnOer St 0.000
SlO.OOO under S30 000
S30.000
S3 1.000 under S40.00.D
S40.000 under $50,000
S50 000 under $60 000
S60.000 under S75.000
$75,000 under SIOOOOO
SIOO.OOO under SI50.000
SI 50.000 under S250 000
$250,000 under $500 000
SSOO.OOO under $1,000,000
$1,000,000 under 55,000,000
S5.000000 under SIOOOO.OOO
SlO.000,000 or more
No total Items of lax prelerence shown
With normal tax. surtax, and allemalrve lax tielore credits total
Toial Items ol tax preference—
Under $10,000
510,000 under S30.000
S30.000
531,000 under 540.000
540,000 under 550,000
S50.000 under 560,000
S60.000 under $75 000
575,000 under StOO.OOO
$100,000 under 5150,000
5150,000 under S250.000
5250,000 under 5500,000
5500,000 under SI .000,000
Sl.OOOOOO under $5,000,000
55.000.000 under 510.000.000
SIO.000.000 or more
No lotal Items of lax preference shown
Without normal tax, surtax, and aliernalive tax before credils, lolai
Toiai items of lai pre'crence—
Under 510,000
SlO.OOO under S30.000
530.000
531,000 under $40,000
S40.000 under S50.000
550,000 under S60,00<)
560.000 under S75.000
$75,000 under SlOOOOO
SIOO.OOO under 5150 OOC
5150,000 under S350.00O
S250.000 under 5500,000
5500.000 under Sl.OOOOOO
51.000,000 under S5.000.000
55,000.000 under Si 0.000.000
$10,000,000 or more
No lotal items ol lax prelerence shown
Selected items of tai preference — Continued
Reserves for losses
on bad debts
of financial
Institutions
Number of
returns
7 \9i
760
Amount
1 3i40ir
138 622
-1 -91
34 103
2 621
20.846
22633
22 705
29 954
46,598
76 697
132.791
193.310
181,314
360.38
96 512
225963
3 556
30,146
2 252
18 629
20,625
20.507
27 148
42.831
71.196
123.650
176,298
158,145
302.192
76.687
225 983
635
3.957
2.198
2606
15.012
23.169
58 189
19,825
4.535
4,007
1085
706
(■)
5.524 206
189742
2.535
12.145
(•)
8.564
9.217
7 904
12589
11,^89
24 74'
43 223
69,430
106,937
476.986
253.240
4,652.446
2058
10.583
6.757
6.512
7,174
10071
8,155
19,512
34.999
72.138
88 552
375,301
210.975
4,322,123
Capital gams
s?
3.734
il
5,233
M
e.111
57
17.292
n
18,355
•l!)
101,665
;
«,265
8
33C.323
6«S
3082
6.131
2943
73
640
675
429
1.883,062
1.871.515
13614
38877
1924
14,338
19 323
15891
13 953
34.838
29 960
47 684
77,346
93.671
290,485
159,810
1,030
12.700
36,761
1 414
13,409
19.227
15419
13,867
29,667
29 535
46,598
77,220
92 394
295,152
159,810
1 03O 273
Total Items
01 lai
preference'
2,096
(■)
(•)
48 56?
125 857
8 070
59 665
65 473
57 953
71 319
116,387
163 033
266 064
444 565
464 836
1,406,573
615894
6 263 966
40,391
107,310
6 750
49.472
56,100
50 513
60734
96,418
142 66:
239 589
386 302
404 612
1 187 546
537,419
5935,237
Statutory exclusion
Number of
returns
7 440
10 585
19 969
20366
28 4'-:
58 263
60.224
219.027
78 475
335.72S
37.383
33,022
18.521
6,729
243
1676
1450
1.033
1.038
1,329
15714
5,702
1,387
1 244
1,097
1.149
1-212
459318
56,691
44 511
117 731
41.75
29 812
30339
39459
38455
40,166
36.399
18.851
18 67
2,520
3779
37,169
100,206
5,858
39.943
35,665
25 839
25,752
32.499
33 695
35.875
31,443
16.27
15960
2220
3 569
7 342
17.525
1.290
8 474
6086
3 973
4587
6.960
4760
4.291
4956
2 580
2.711
To.al lai preference
Items less
statutory eicluston
1.718
1.486
1.068
1 074
1.369
1.344
1,399
1,262
1,132
577
1,425
1,272
1.136
1.175
1.250
9 233 920
433309
920
11.243
23.722
28 143
40,980
76.928
124,577
227.891
408,166
445.985
1 387,902
613374
6265187
890
9.525
20.435
24.676
34.982
63.919
108.967
203.706
354,859
388.341
1.171,585
535.199
5,929.668
1.036
ft
159
5 998
■/■.a
13.009
169
15.610
149
24185
'69
53 307
88
57.644
97
216.317
11
78.175
8
335.519
Footnotes ai end of lable See text for ' Explanation ot Terms and Descnpiion ol tr>e Sample ano Limiianons d the Data
146
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 22.— Tax Preference and Related Items, by Income Status, by Normal Tax, Surtax, and Alternative Tax Status, by Size of Total
Items of Tax Preference— Continued
[All (iqures art- eslimales based on s
mples — monc
amounts ^r(
in thousands
Ol dollars
Income tax available as an ottset
Returns with tax
preference items alter statutory exclusion
ncome lax used as an ottset
and
Income status, normal tax. surtax, and
alternative tai status, sue ol total
Current year
Carryover
Number of
returns
Selected
■terns of tax preference
Accelerated depreciation on—
Amortization of—
Items ot tax preference
Number of
returns
Amount
Number ot
returns
Amount
Low-
income
rental
housing
Other
real
properly
Personal
properly
subiect
10 a net
lease
Certified
pollution
control
facilities
Railroad
rolling
stock
(4t|
(421
1431
144)
(451
1461
1471
1481
1491
150)
Tola! active corporation returns other tfian Forms lt20S and lt20-DISC
12.392
22.607.499
3.619
13.092,612
5,219
3.742
162.804
414
25.913
97.846
Reluins wilh net income
Returns without nel income
12066
306
22601 541
5,958
2 947
672
11 639 661
1 452 951
4200
1019
464
3 2^8
93,756
69 046
n
CI
14 284
11,629
89,732
C)
Returns with lax preference Items:
Total
12 392
22 607 499
3,619
13 092 612
5219
3 '42
162 804
414
25913
97,846
Total Items ol lax preterence-
Undcr St 0.000
StO.OOO under 530,000
S30.000
531,000 under 540000
540 000 under 550,000
t,14t
584
9t
1416
1220
148,995
187,613
15,915
437,843
392 250
395
266
12
443
375
201 723
154 095
2 906
317 676
176 162
202
97
16
242
267
I'l
I'l
I'l
646
1,340
C)
2 534
3 320
I'l
I'l
I'l
I'l
CI
-
550000 undei 560,000
560,000 under 575.000
575,000 under 5100,000
5100,000 under 5150 000
5150,000 under 5250000
930
913
1 129
1 194
1,263
308.520
364,699
681 151
889 159
1,056 451
340
295
267
298
286
92,849
202 689
262 784
666 455
766 450
327
458
627
670
785
CI
I'l
I'l
I'l
2 952
3277
6 828
6,605
9 389
CI
CI
CI
C)
CI
C)
C)
-_
5250,000 under 5500 000
5500.000 under 51.000.000
51,000,000 under 55,000,000
55,000,000 under 510 000 000
510 000 000 or more
1 137
589
588
76
117
1911566
2 108,437
4 822 060
1 586 746
7694,094
281
147
163
24
25
1,522 099
1,538 660
3,089 056
1,032,324
3 066 684
727
350
323
41
67
764
31
1 206
8
86
17,722
13,362
34 998
13,559
46 242
CI
I'l
17
CI
Cl
4.075
7 040
13 879
C)
16.979
4.218
74,068
No total ilems ol tai prelerence shown
-
-
-
-
-
-
-
-
-
-
With normal lax, surtax, and alleinalive lax beloie credits lolal
12 064
22 600 894
2 893
11 495 923
3810
375
76 409
CI
14018
85 404
Tola! Ilems ol lax prelerence—
Under 510000
510,000 under 530.000
530,000
531,000 under S40.000
540,000 under 550,000
1 107
572
69
1383
1207
148971
187 608
15.906
437675
392225
321
227
11
309
315
183312
109,264
25/3
138 156
133 403
I'l
40
CI
89
130
^
CI
CI
C)
547
CI
-
\
550000 under 560,000
560,000 under 575 000
S75000 undei 5100,000
5100,000 under 5150,000
5150.000 under 5250,000
910
895
1 102
1 163
1235
308 390
364 002
691011
688,892
1 057 956
279
234
205
242
235
62 154
132,659
186430
541 527
571089
241
354
446
550
674
CI
CI
C)
500
519
2,268
1 508
3 398
Ci
I'l
C)
Cl
-
5250.000 under 5500.000
5500,000 under 51,000,000
51,000000 undei 55,000.000
55,000.000 under 510,000 000
510000,000 or more
1,088
566
555
75
1910,622
2106760
4 821.060
1 565 520
7 694 094
217
119
134
21
24
1,276 270
1,357010
2784,454
1 021 532
2 995,890
606
284
244
30
60
CI
CI
CI
8
86
3 942
2 497
12,741
3 695
45 730
CI
I'l
CI
I'l
I'l
321
13664
Cl
Cl
4,218
74,068
No lolal Items ol lax prelere.nce ihown
-
-
-
-
-
-
-
-
-
Wilhout normal lax, surtax and allemaiive lax belore credits lolal
328
6605
726
1 596669
1 409
3 367
84 395
CI
11695
Cl
Tolal Items ol Mx prelerence—
Under 510000
510,000 unOe' 530 000
530,000
531 000 under 540 000
540,000 under S50000
(•)
CI
35
13
I'l
I'l
n
168
25
"4
39
CI
134
60
18411
44 831
CI
179,520
42,759
141
57
15
153
157
[')
I'l
CI
431
625
CI
2420
2,773
I'l
I'l
CI
Cl
I'l
-
S50 000 under S60000
560,000 under 575 000
575,000 under 5100,000
5100,000 under 5150,000
5150,000 under 5250,000
20
18
27
31
26
130
697
140
267
493
61
61
62
56
53
30 695
69 630
76354
124,928
195 361
86
104
181
120
111
CI
CI
CI
CI
2,452
275B
4,540
5,097
5991
CI
Cl
Cl
(•)
Cl
\
S250 OCO under 5500.000
5500 000 under 51 000 000
51,000,000 under 55 000,000
55,000000 under SIOOOOOOO
510,000,000 or more
49
23
33
3
744
1,677
1 000
1,226
64
28
29
3
CI
245,829
161,650
304 602
10,792
CI
121
66
79
11
7
C)
CI
1 189
13,780
10 665
22,257
9,664
512
CI
Cl
4,060
6,719
215
Cl
No lolal items ol tax prelerence shown
1")
I'l
CI
I'l
CI
I'l
I'l
-
-
_
Foolnoles al end of table See lexl for E'p'anaiion o( Terms" and "Descnplion of the Sample and Limilai'ons ol the Data
Corporation Returns/ 1974
147
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 22.— Tax Preference and Related Items, by Income Status, by Normal Tax, Surtax, and Alternative Tax Status, by Size of Total
Items of Tax Preference— Continued
[Alt figures are eslimaies bdieo on sampler- money amounts ate
in ihousdnds ol dollars)
Returns w'th tax
preference Hems alter slatutorY delusion and incone ta
I used as an
offset— Continued
Selected items ot
tai
Income tax available
preterence— Continued
as an
offset
T r 1 1
Income status normal lai. surtai. and
Reserves
Total la<
preterence
alternative tai status, sue of lolal
Items of lai preference
lor losses
on bad
Total
Items ol
Statutory
preference
Items less
statutory
eiclusion
Items less
statutory
deljts of
linanciat
Depletion
Capital
gams
la,
preference
eiclusion
Current
year
Carryover
eicluston
and income
institu-
lax used as
tions
an offset
(51J
1521
1531
1541
1551
(56)
157)
158)
(59)
Total active corporatior> returns other than Forms H20S and 1120-DISC
1.125,833
4,319.689
692,395
6.430,850
145.079
6.285,782
2,676,381
61,574
3,547,762
Rflufns wilh net mtofnt
1 028,524
4.150,750
688,365
6.067.718
120135
5,947 585
2673 854
39 205
3 234 466
Reiurns without net income
97 309
166,939
4,030
363.132
24 944
338 197
2,527
22,369
313.296
Returns with tai preference items:
Total
1 125.633
4 319689
692,395
6 430 850
145 079
6,285,762
2 676 381
61 574
3 547762
Tola! ilems ol lai pielerence-
Under Si 0,000
CI
I'l
CI
829
Cl
823
(•)
233
(•)
747
SlO.OOO under $30 000
530,000
CI
n
CI
Cl
1.615
Cl
397
Cl
1,229
("1
n
920
5
1,370
S31.000 undef 340,000
1 969
2455
Cl
8497
6,969
1 529
H6
(■)
55
540,000 under 550,000
3.515
4 143
941
12604
8.310
4,293
780
3^454
S50 000 under 560,000
9.589
2 230
2,893
17,816
9710
6,107
3,610
358
4 109
560,000 under 575,000
18 310
8417
491
30,505
13,256
17.248
6 038
416
6,803
575,000 under 5100 000
32 03'
7.259
6,821
53,983
18711
35 271
?4819
453
19 986
SIOO.OOO under $150,000
59 «2
10794
3,203
81 113
19.744
61,364
28 129
755
32 474
S150.000 under 5250.000
110 467
21,835
7.898
150 154
23,171
126,979
58 899
1,991
66073
5250,000 under 5500.000
170 233
49 062
16,878
254 666
21 470
233,195
98,476
3,377
131.333
5500,000 unde' 51.000.000
154 176
52 418
21,064
242.844
10 260
232,583
98 174
3921
130,496
51,000.000 under 55,000,000
307 149
253,312
58.010
677,754
9,419
668.336
227 990
20,787
419!S69
55.000,000 under SlO.OOO.OCO
83,926
130.036
45,876
284,664
1.200
263.464
88 822
10 807
163 838
510.000,000 or more
174,863
3 777 686
526,497
4.613326
1,980
4 611,346
2 048,209
18549
? 544,595
No total Items ol lai preference shown
-
-
-
-
_
_
_
_
_
With normal la« Surtai and alternalive ia» belore credits, lolal
1,019555
3805 237
681,723
5686486
109542
5,576,943
2,673,593
36312
2.866,975
Total -terns ol lai pre'erence—
Under St 0,000
_
_
ri
Cl
Cl
..
,
1')
308
SlO.OOO unde- S30.000
I'l
-
581
Cl
S44
233
530,000
(')
—
_
Cl
Cl
D
(')
$31,000 under 540,000
805
CI
Cl
3.083
2.455
628
116
i'l
497
540,000 under 550,000
2,778
CI
845
5708
3.854
1353
779
Cl
1,020
550,000 under 560.000
8,636
Cl
2 421
13 175
7 162
6014
3 601
241
2 141
560.000 under 575,000
16,592
5965
48S
23574
10,256
13,317
3 034
236
5,065
S76.000 under $100,000
30,160
:<S95
1932
38 464
13.281
25.182
M.eoi
366
10.000
5100,000 under $150,000
55 203
6614
2,658
66.672
16.322
50,345
28 059
528
21,753
$150,000 under 5250.000
104 893
14 016
6,812
129,371
19.952
109414
58.784
954
49!660
5250.000 under $500,000
149 049
33 605
16772
213389
17 954
195 4?4
98 183
1 545
96 696
5500,000 under SI.OOO.OOO
139.507
34,646
ri,;90
198,035
8 340
189 69d
97819
2 055
89,829
$1,000,000 under $5,000,000
.'62872
160.123
57,426
499 748
7 202
492 54 7
227 293
11 767
253489
$5,000,000 under 510,000 000
64.101
37,771
45878
206 189
900
205 289
87 596
16
117681
510.000,000 or more
174 863
3453798
525,972
4 288 186
1,800
4.286,386
2046,209
18,549
2,219,635
NO total Items of i.i* ^nete-ence snown
-
-
-
-
-
-
-
_
_
.Viilwut normal tax. surtax, and allernative lax belore credits lola<
106278
514 452
10 672
744 364
35,537
708,839
2 788
25 262
680 787
Total Items ol tax preterence—
Under 510,000
n
CI
Cl
548
^'\
542
(')
542
510,000 under 530000
O
CI
Cl
1,034
359
685
I'l
612
530,000
ri
Cl
Cl
Cl
r»
_
f)
673
531,000 under 540 000
1 154
882
{'\
5,414
4514
901
ri
(')
$40,000 under S50 000
737
2612
Cl
6896
4,456
2440
n
D
2434
S50 000 under S60.000
953
CI
Cl
4,641
2 548
2,093
D
(■)
1,968
S60.000 under 575.000
1,718
2 452
Cl
6,931
3.000
3,931
(*i
Cl
3,747
575.000 unoei SlOOOOO
1871
3,364
Cl
15,519
5,430
10089
18
I')
9 986
5100000 undef SlSO.OOC
4,259
4 180
Cl
14,441
3.422
11,019
70
(■)
10,721
5150,000 under 5250,000
5574
7819
Cl
20 783
3,219
17,565
115
1,037
16,413
$260,000 under 5^00.000
11 184
15,457
Cl
41,277
3516
37,761
293
1,832
36,637
5500.000 under $1,000,000
14671
17.572
Cl
44.809
1,920
42,889
355
D
40,667
SI.OOO.OOO under 55.000,000
44277
93.189
584
178 006
2217
175,789
697
9,020
166,070
55.000,000 under S10.000.000
19 825
42,265
_
78.475
300
76,175
1 226
10 792
66 157
510,000,000 or mo.-
-
323.888
525
325.140
180
324.960
324 960
No total ilems ol la« prelerence shown
-
-
-
-
-
-
-
-
-
Foolnoles at end of table See text tor Explanation ol Terms' and 'Descf iplion ol Ihe Sample and Limitations ol the Data
148
Corporation Returns/1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 22.— Tax Preference and Related Items, by Income Status, by Normal Tax, Surtax, and Alternative Tax Status, by Size of Total
Items of Tax Preference— Continued
|Ali iigufes are estimak'^ based on samples— money amounls 3re in Ihousands ol dollars!
Returns witli tax prelerence items alter slatutorY ex
-lusion and income tax used
as an offset-
Continued
Income status, normal ta«. surtaii, and
alternative tax status, size of total
Items ol 131 prelerence
Tentative
additional
tax lor tax
prelerences
Net operating loss for
1974 remaining as a
carryover to a succeed.
ing year
Deterred
additional
tax lor tax
prelerences
Tentative additional
tax lor tax prefer.
ences less determent
Additional
tax for tax
prelerences
deterred
from prior
years
Additional
tax lor lax
preferences
Numt>er ol
returns
Amount
Numtier ot
returns
Amount
1601
1611
1621
(631
164)
(651
(661
(671
Total active corporation returns ottier than Forms tt20S and tl20-DISC ............
354,643
861
2,204,218
22.399
4.490
332.229
12.346
12277
CI
344.582
333,070
11512
Returns wilh net incomr.
R(?lurns wiinoul net income
323342
31 301
127
734
316,724
1.887.494
2 556
19 843
4 076
414
320 766
11 443
Returns wittt tax prelerence items:
Total
354 643
861
2,204,218
22 399
4 490
332 229
12346
344 582
Total Items ot tax prelercnce-
Under SIO.OOO
510,000 under S30.000
S30.000
531,000 under 540,000
540,000 under 550,000
72
71
140
326
97
I'l
95
90
39815
2126
11
33708
41 794
37
I'l
70
122
122
63
14
148
206
48
37
1
70
201
CI
CI
CI
CI
48
40
1
70
229
550,000 under 560,000
560,000 under 575,000
575,000 under 5100,000
5100,000 under SI 50,000
5150,000 under 5250,000
375
685
1 958
3,236
6 607
47
56
137
72
55
53 158
57 292
217 892
281,136
130,483
94
191
712
534
770
284
409
504
623
736
281
694
1 246
2702
5 637
CI
CI
CI
CI
150
310
776
1.288
2.807
5.984
5250,000 under 5500 000
5500000 under 51,000 000
51,000,000 under 55000 000
55,000,000 under 510,000,000
510,000,000 or more
13,126
13,040
41958
18,383
254.462
73
37
45
8
3
111873
239,717
822978
144,502
26,360
1,983
2060
8 456
4,723
2,616
671
320
269
35
66
11.140
10960
33,504
13,661
251.847
459
595
2869
386
7,603
11,602
11,557
36,373
14,047
259,450
No total Items ol tax prelerence stiown
-
-
-
-
-
-
-
-
With normal lax, surtax and alternative lax twiore credits, lolal
2B5616
f)
fl
CI
3,804
266,475
9 070
295545
Total Item- pt tax prelerence—
Under 510,000
510,000 under 530 000
530.000
531,000 under 540 000
540,000 under 550,000
(')
22
|-|
39
96
-
;
\
C)
40
CI
89
130
CI
22
CI
39
%
CI
CI
CI
CI
25
CI
39
106
550,000 under 51)0 000
S6O00O under 575 000
575000 under 51CO0OC
5100.000 under 5150000
5150,000 und.'i 5250.000
186
517
992
2,168
4967
I'l
CI
C)
241
354
446
550
673
186
517
992
2166
4 946
CI
CI
CI
CI
186
599
to to
2,237
4,985
5250,000 under 5500,000
5500,000 under 51,000.000
51,000,000 under 55.000,000
55,000,000 under 510 000,000
510,000,000 or mere
9.560
8,976
25 351
11.766
721966
(*)
CI
(•)
601
284
244
30
60
9438
8976
25,351
11,766
221966
CI
CI
2,116
164
6 195
9,550
9.23S
27,467
11,930
226,161
No total Items ol lax preference stiown
-
-
-
-
-
-
-
-
Withoul normal lax, surtax, and alternative lax betore c-^dils lolal
6e 02L,
855
2,194 643
22 256
666
45 754
3,276
49,037
Tola! Items ot lax prelerence-
Under 510,000
510,000 under 530,000
S30.000
531,000 under 540,000
540.000 under 550,000
6:
CI '
101
230
9/
44
("J
95
90
39 615
2126
n
33,708
4t 794
11
37
CI
70
122
61
23
13
59
7b
37
15
I'l
31
105
CI
CI
37
15
CI
31
123
550,000 under 560,000
560 000 under 575 000
575,000 under 5100 000
StOOOOO under 5150,000
5150000 under 5250.000
189
368
966
1.068
1,640
47
56
137
72
54
53,158
57,292
217,892
281 136
130,271
94
191
712
534
749
43
55
58
73
63
95
177
254
534
891
CI
CI
CI
CI
CI
124
177
278
570
999
5250,000 under 5500,000
5500 000 under 5t 000,000
51.000,000 under 55000,000
55,000000 under 510,000,000
SIOOOOOOO or more
3,566
4 064
16,607
6,617
32,4%
68
37
45
e
3
102,510
239 717
822,979
144,502
26,360
1,661
2,080
8,456
4 723
2,bl6
70
36
45
5
6
1,702
1 984
8 153
1 895
29 881
351
333
753
222
1406
2,052
2,319
8.906
2.117
31,289
No lolal ilems ol lax prelerence snown
-
-
~
-
-
-
-
-
Footnotes al end ol lable See lexl (oi "Explartalion ol Terms' and 'Description ol tht^ Sample ana Limitations ol itie Data "
Corporation Returns/1974
149
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 22.— Tax Preference and Related Items, by Income Status, by Normal Tax, Surtax, and Alternative Tax Status, by Size of Total
Items of Tax Preference— Continued
]Ali ligures are esdmaies based on samples— money amourns dft? m thousands of dpllarsl
Income status, normal tai. surlai, and
alternative tai status, size ot total
Items ol lai preference
Total active corporation returns othei than Forms 11205 and 1120-DISC .
Relums with net income
Returns MtNjul net income
Returns with la» pretererice items
■fQia
Tolal Items ol ia« ptelerence—
Under 510,000
SIOOOO under S30000
530,000
531,000 under $40,000
540000 ufxjer SSOOOO
550,000 under 560 000
S60.000 under 575000
575.000 under SI 00,000
$100,000 under 5150,000
5150,000 under 5250,000
5250.000 under $500,000
5500 000 under 51000,000
Sl.000,000 under $5,000,000
55.000,000 under 5'0.000.000
$10 000 000 or more
No lolal <lems ol lan preterence shown
With normal lai, surtax, and alternative lai belore credits, total
Tolal iiems o' ia< preterence—
Under $10,000
510000 under 530.000
530.000
531.000 under 540 000
540,000 under 550 000
550,000 under 560000
$60,000 under $75,000
575000 under 5100 000
5100,000 under $150,000
5150,000 under $250 000
S250.000 under $500,000
5500,000 under 51.000.000
$1,000,000 under 55.000,000
55,000,000 under $10,000 000
510,000.000 or more
No total ilems ol lax preference shown
Wilhout normal tax surtax, ar>d alternative tax belore credits, total
Tola' ilem<> of lax preterence—
under 510.000
510,000 under $30 000
330,000
531.000 under 540.000
540,000 under 550,000
550.000 under 560.000
S60 000 under $75,000
575.000 under 5100.000
5100,000 under SlSO.OOO
5150.000 under 5250.000
5250.000 under $500,000
5500 000 under SI 000 000
51.000.000 under 55.000 000
55.000,000 under SlOOOOOOO
510.000,000 or more
Returns with no lai preference items atler statutory eiclusion and income tax used as an otfset
Total Items
of tai
preference
when equal
to statutory
exclusion
No total Items ol tax preterence shown
143,982
19 233
44.090
114.265
4S60
Returns with lai preterence items remaining after-
Statutory eiclusion
Total Items
ot lai
preterence
3 481 532
109 620
3.643
9 977
2.730
5t 168
52.869
40.137
JO 614
62 404
81920
117910
189 899
221 992
728.819
331.230
I 655 640
3293
9 506
2540
46 389
50.392
37,338
37 160
57.954
75.995
110.21
172913
206 57
687 796
331.230
1.645.051
469
(•)
4.779
2,477
2,799
3 654
4 450
5925
7.692
16.986
15.415
41.021
195 201
14.5ld
404
3,069
1.823
41 448
33 441
20.102
17 063
?0 74e
16.711
16.995
14.929
8.591
9 252
1 320
Total lai
preference
Items less
statutory
exclusion
Current
year
income tai
available
as 3n offset
1.799
3-J
2 947
1 763
37 488
31
18.677
15496
19216
17 373
15,923
7 931
6758
1.320
1.769
3,960
1,630
1.567
1,530
1 440
660
494
3.286,335
95.112
3,240
6.919
905
9 714
19429
20.036
23 732
41,657
63,213
100,912
17J.97I
213 402
719.566
329910
•653 84
2 949
6 569
875
8.897
IB 582
18,662
21665
38 737
58,622
94.292
159,425
198.647
679,038
329.910
1 643.282
847
1 374
2,067
2,920
4.591
6.620
15,546
14755
40,528
148,919
187,390
15,905
437.727
391,470
304.910
356.661
666,332
861,030
999.55?
1.813,090
2.010,263
4,594.070
1 497 924
5 645 865
140,995
187.375
15,896
437.559
391 446
304.789
355.969
666 210
860,833
999.174
1.812.639
2,008,941
4.593.767
1.497.924
5,645.985
Stalulorv exclusion and current year
income lai available as an offset
Tolal tax preference
Items less statutory
eiclusion and current
year tax available as
an offset
Number ot
returns
CI
Amount
I*)
1 190
2 463
3142
5.084
S.90I
13.087
26.183
26.877
99.686
37.819
105.213
available
as an
offset
1.423 139
1 379.262
19,210
42 136
1'}
194.349
49.921
39 909
40 964
97 977
166.741
262.564
361,103
277.574
729.315
219,344
323,971
177
992
152
1,903
|-|
n
<09
5,303
658
7,167
1.IB8
12,392
1.340
7.945
2.2S6
11,706
4,507
42,040
6.845
66,260
11.088
117,106
13,430
103,221
59,461
433,733
37,818
216,344
94,654
253 077
267
17.216
346
40.233
CI
CI
781
179,046
823
42754
1,275
26417
1,802
33019
2,798
76.269
4,394
124,701
6,242
194,324
15,095
243,997
13447
174353
40,225
295,582
Fooinoies at end of table See text lor Expianalion of Terms'* and Descnplion of the Sample and Ltmiialions o( the Data
150
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORMS 1120S AND 1120-DISC
Table 22.— Tax Preference and Related Items, by Income Status, by Normal Tax, Surtax, and Alternative Tax Status, by Size of Total
Items of Tax Preference— Continued
jAll figure
> are esfimale
s based ir, samples— mone
amoiinis s<t
in thousanils
Of aoiiar5|
Returns showing
ax preference
items based c
n-
Depreciation
Amortization
Depletion
Bad debt
deduction
Net long-term capital gam
Income stalus, normal tai, surta«, and
alternative tax status, size of total
Items of lai preference
Accelerated deprecia-
tion tax preferences
Depreciation
deduction
Amortization tax
preferences
Amortization
deduction
Deptefion
lax
preference
Depletion
deduction
Reserve
for bad
debt lax
prelerence
Bad debt
deduction
Capitaf
gams tax
prelerence
Net long-term capital
gam reduced by net
short-term capitaf loss
Number of
returns
Amount
Number ol
returns
Amount
Total
taxed at
alternative
rates
(76)
(77)
(7»)
179)
(BO)
(81)
1821
(83)
184)
(85)
(961
(871
(881
Total active corporation returns ottter
titan Forms 1t20S and ttZO-DISC
20.760
923.7 1 5
45.077.0f2
465
208.613
286,422
5.7f3.948
11.591.208
t.452.B39
3.120.018
t.883.062
4.90€,tt4
4.854.658
Returns with net income
Returns wttnoui net income
f7511
3249
798.46t
f 25.254
4at2t.120
4.955.892
406
59
182.557
26 056
252816
33606
5 524 206
189742
11 334 509
256 699
1 314.017
138.822
2.558.433
561.565
1.871.515
11.547
4.665963
20.t5t
4 854 658
Returns wttlt tax preference items:
lolal
20760
9237f5
45.077.012
465
208.613
286,422
5.713948
11 591.208
1 452839
3120018
1 883.062
4.906.114
4854.658
Total Items ol tax preference—
Under StO.OOO
StO.OOO under S30.000
530,000
531,000 under S'tO,000
540000 under 550,000
12783
3.t9f
77
670
5t4
27991
39.558
f 132
15.124
13.338
1.043.981
1.057.056
20.004
500 305
457 002
49
70
19
25
182
997
(*)
140
735
127
426
1*)
104
730
2.535
12.145
f)
8564
9217
5749
16.270
C)
9 152
12 650
4 191
34 103
2 821
20.846
22 633
18.985
81666
7 181
34 953
32145
13.614
38.877
1.924
14.886
19.323
46.235
99.048
4.844
27.352
42.274
42.752
89.004
4694
24.629
41 316
550,000 under 560,000
560,000 under 575,000
575,000 under 5100,000
5100.000 under 5150 000
5150,000 under 5250.000
367
426
439
485
509
11.075
14473
21.934
29.991
41.781
346.513
661 170
805.476
1.179.360
1.463.099
12
to
20
21
28
287
331
527
889
2.390
314
105
643
2746
5,083
7904
12.589
11.889
24.745
43.223
8539
13215
14 373
29.202
71067
22 705
29 954
46.598
76 697
132 791
33696
50 634
69 406
116 297
232.126
15891
13.953
34 838
29 960
47 684
33.093
39 150
64 440
74 743
125.123
32.639
39 061
58 245
73 740
123 976
5250,000 under 5500,000
5500,000 under 51,000,000
51,000,000 under 55000,000
55.000.000 under 510000000
510000.000 or more
481
283
362
67
104
78,924
73,379
230 857
85648
238 510
3.287.618
3.458.077
e.622131
3 273 457
18 901 763
38
37
73
f9
41
5.554
8 764
47.843
18.684
121 224
7,530
14,114
48,971
16365
189 095
89.430
106.937
476986
253.240
4652446
112.645
126.413
630.862
364.346
10 172.641
193.310
181.314
360 381
98.512
225 963
325108
406 772
723 127
243.781
742 139
77 346
93671
290 485
159.810
1 030 798
206.333
236 274
734.925
411931
2 760 349
195.535
234 749
722.042
411.925
2 760 349
No total Items ol lax preference shown
-
-
-
-
-
-
-
-
-
^
-
-
-
With normal lax. surtax, and ailernative
tax tietore credits, total
16.791
774041
39.115.594
402
177,962
252 069
5 176.946
10j21.382
1.304.045
2509138
1.863.666
4.869.733
4.854 658
Total Items of tax preference—
Under 510,000
St0,000 under 530,000
530.000
531,000 under 540,000
540,000 under 550,000
10.484
2 497
64
510
400
21,829
28,841
981
10,436
8976
7665B7
725.207
16.840
382.826
291 940
48
52
(*)
18
16
181
771
(■)
137
448
126
366
(■)
CI
CI
2 058
10583
C)
6 757
6512
3 too
14.216
CI
7.060
7.347
3556
30146
2.252
18.629
20.825
12.791
68.164
5.970
27.039
28 543
12.700
36.781
1.414
13.409
19 227
45.223
96.257
4.694
25.601
42.139
42.752
89.004
4.694
24.629
41318
550,000 under 560,000
560,000 under 575,000
575000 under 5100.000
5100.000 under 5150.000
5150.000 under 5250.000
272
329
340
390
426
7,068
9,359
14798
21203
31812
229 665
387.713
430397
835076
1.063 108
11
9
18
18
26
256
267
497
696
2 339
CI
105
594
1,203
4951
7,174
10071
8,155
19,512
34.999
7.874
10426
9292
21.502
56 405
20.507
27.148
42.831
7t 196
123650
28.986
35.685
56.794
66.667
153 365
15.419
13.667
29 867
29.535
46 596
32.639
39.061
59 464
74.189
124.490
32.639
39.061
58.245
73.740
123,976
5250.000 under 5500.000
5500.000 under 51.000.000
51 .000 000 under 55.000.000
55.000.000 under StO.000.000
510.000.000 or more
373
232
313
61
100
54 191
56 406
194 775
75,984
237,380
2 172 092
2.922 175
7.619.417
2 616 582
18.453.969
33
35
60
16
39
4 456
8311
30100
11965
117472
6,609
13 340
35,415
3 637
164,728
72.138
86.582
375.301
210.975
4322.123
86872
105.490
463 597
315.703
9.590.550
178 298
158 145
302192
78.667
225.963
221 991
251 540
565 559
221.705
742 139
77 220
92.394
285 152
159.810
1 030 273
196 905
234.749
722.042
411931
2 760.349
195,535
234.749
722 042
411.925
2 760.349
No folal Items of fax preference shown
-
-
-
-
-
-
-
-
-
-
-
-
-
Wifhoul normal tax. surtax, and
ailernative lax before credits, total
3969
f49674
5.961 418
63
30 651
34 353
537.000
869 826
148 794
610.880
19.396
36 381
_
Tofaf Items of fax preference—
Under 510.000
510000 under 530.000
530.000
531.000 under 540 000
540000 under 550.000
2.299
694
13
160
114
6 162
10,717
151
4688
4,360
275 394
331 849
3164
117.479
165 062
(■)
(■)
(■)
n
I'l
CI
CI
CI
C)
C)
477
1 562
C)
1807
2705
2.649
4.054
C)
2092
5.303
635
3.957
569
2217
1 608
6 194
13 502
1211
7.914
3602
914
2.096
CI
C)
ct
1.012
2.791
CI
C)
-
S50.000 under 560.000
560.000 under 575.000
575.000 under 5100.000
SIOO.OOO under 5150.000
S150.000 under 5250.000
95
99
99
95
B3
4007
5114
7 136
8 786
9,969
116.848
273 457
375.079
344.284
399.991
l")
(")
(•)
3
(■)
CI
CI
C)
193
CI
38
49
1.543
132
CI
2.518
3.734
5.233
8.224
CI
2.789
5 081
7.700
14.682
2198
2606
3.767
5501
9 141
4,710
14949
12,614
29 430
78 761
CI
C)
I'l
CI
C)
C)
1")
1')
C)
C)
2
5250.000 under 5500 000
S500.000 under 51000.000
SI. 000.000 under 55.000 000
55.000000 under 510.000.000
510.000.000 or more
108
51
49
6
4
24,733
16,973
36.062
9.664
1.130
1.115.526
535.902
1002.714
456.875
447 794
5
("1
13
3
CI
1098
C)
17,743
6719
CI
921
774
13556
12.726
4 367
17.292
18.355
101.665
42265
330 323
25773
20.923
147 265
48 643
562 091
15012
23.169
58.169
19 825
103117
155,232
157,568
22076
C)
CI
5.333
525
C)
C)
f2.883
2
No total Items of tax preference shown
-
-
-
-
-
-
-
-
-
-
-
"Eslimale IS not shown separately because ol Ihe small number ol sample relurns on which it was based However, Ihe dala are included in the appropriate totals
' Includes Ihe lollowmg amounis which are not shown separately amorlizalion ol on— Ihe— lOb Iraining (acililies. S53.000 amorlization of child care facilities. S21.000
• Less then S500 per return
NOTE Credits include loreignlax. inveslmenl. and work incentive (WIN) credits See lexl lor Explanation ol Terms' and Descnplion o' Ihe Sample and Limitations ol the Data "
Corporation Returns/ 1974
151
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£
s
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o o p o o
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■r> o o
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^_irti/) 0
£
1 Si
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S rC - S S
1 ^ns
50.000 under S
00.000 under S
,000.000 under
,000.000 under
0 000,000 or m
««sli
iill^
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;% 3 u £
— 0 T3 -O
iijjl
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■fi- £oo
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s s5 =
= = =oc
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lligg
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£ 2 ■D 0 0
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156
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORM 1120-DISC
Table 24.— Work Incentive (WIN) Credit Items, by Industrial Division, by Size of Total Assets
[All
ligures are eslimales based on samples-mooey amounis are [n thousands ot dollars]
Total
Size of tola) assets
rndustrial division, Item
Zero
assets
St under
SIOO.OOO
SIOO.OOO
under
SSOO.OOO
S500.000
under
$1,000,000
Sl.000.000
under
sto.ooo.ooo
sto.ooo.ooo
under
S25.000.000
, 525,000,000
under
S50.000.000
550,000.000
under
S 100.000.000
5100.000.000
or more
Kl
(21
(31
(4)
(51
161
m
(81
(91
(101
All Industrial Divisions'
Numbef of felurns othet mar Forrr 1120 DISC
t 9S9 433
62377
1 076241
566 549
117 779
112B0C'
It 835
5,244
2865
3,743
Relurns olhet than Forms 1120S and n20-DISC,
wtlh work incenlrve (WIN) cedit items
Number ol returns
Number ol employees under a work incentive
(WIN) program
Salaries and wages used lor credil
5 188
17,666
42.358
CI
CI
CI
CI
(■)
1899
2.671
5,130
501
1,622
2535
1,169
3558
7,057
203
772
1 683
156
630
1,544
147
782
2,099
547
7117
21,052
Tenlalive work incentive (WIN) credit
Number ol relurns
Amount
4 386
8.317
CI
CI
I't
1 443
1,022
476
497
1059
1 367
196
329
145
307
144
413
531
4,198
Work ir>centive (WIN) credit carryover
Number ol relurns
831
1 187
10.019.50?
4.229
7 795
CI
CI
CI
369
304
12,621
1,580
1,086
36
12
15,879
466
438
147
306
170299
979
1,308
19
47
126064
166
305
17
21
146 485
127
276
11
24
316 909
118
353
56
386
Normal lai. suna». and alternalrve ta» alter
loreign la« and mveslmenl credits
Work incenlrve (WIN) credit
Number ol returns
Amount
9,229,912
441
3,762
Returns olhcr than Porms 1120S and H20.DISC
wilfi ta» from recompuling prior year
work incentive (WIN) credit
Number Ol returns
Amouni
438
446
CI
CI
2
CI
CI
103
14
141
88
22
10
13
26
12
12
42
296
Small Business Corporation Returns. Form 1120S.
with work incentive (WIN) credit items
Number ol returns
Number ol employees under a work incentive
(WIN) program
Salaries and wages usable lor credit
68
196
252
-
-
-
CI
CI
CI
CI
i:!
-
-
-
-
Mining
Number of returns oiner Ihan Form lt20-DISC
15,732
867
6 630
4 720
1390
V
J
2 065
60
Relurns other lhan Forms 11205 and tt20-D1SC
Mnih work incentive (WIN) credit ilems
Number ol returns
Number ol employees under a work incentive
(WIN) program
Salaries and wages used lor credit
14
50
225
-
-
-
-
4
10
61
to
40
164
Tenlative work incentive (WIN) credit
Number oJ returns
AriKHjnt
Work incentive (WIN) credit carryover
Number ol returns
Amour^l
14
44
CI
CI
-
-
~-
-
4
12
10
32
CI
CI
Normal tax surtax, and alternative lai after
loreign tax and investment credils
Work incentive (WIN) credit
Number ol relurns
Amouni
84 346
13
77
-
"
-
-
2,848
3
7
81,498
to
70
Relurns other lhan Forms 11205 and tl20-DlSC.
with lax liom recomputing pnor year
worlt incentive (WIN) credit
Numt>er ot returns
Amount
CI
CI
-
2
~
(■)
CI
CI
CI
Construction
185563
a 174
104,924
54,573
11,061
10175
433
V
J
i2:i
Returns other than Forms 11205 and 1t20-DI5C,
with work incentive (WIN) credit items
Number ol returns
Number ot employees under a work mcenlive
(WIN) program
Salanes and wages used lor credil
298
326
1,244
-
CI
CI
CI
CI
CI
CI
CI
CI
CI
50
73
289
9
16
54
8
19
53
Tenlalrve work mcenlive (WIN) credit
Number of returns
Amount
Work incentive (WIN) credit carryover
Number Of returns
Amount .-■
278
183
CI
CI
~
CI
CI
CI
CI
CI
CI
44
57
CI
CI
8
10
CI
CI
B
10
39,132
152
162
-
-
CI
CI
CI
CI
CI
CI
2 776
34
42
4846
6
7
29,444
6
7
Work incentive (WIN) credit
Returns Other than Forms 11205 and 1120-DlSC.
with lax from recomputing prcr year
work mcenlive (WIN) credit
Number of relurns
Amount
47
10
-
-
-
CI
CI
Cl
CI
CI
-
Footnoles al end of table See te«I for ■ Explanation ol Terms and Description of the Sample and Limitations ol the Data
Corporation Returns/1974
157
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORM 1120-DISC
Table 24.— Work Incentive (WIN) Credit Items, by Industrial Division, by Size of Total Assets
[All ligures are estimates based on
Total
Siie or total assets
Industrial divislor), Kern
Zero
assets
SI under
SI 00.000
$100,000
under
SSOO.OOO
$500,000
under
SI.OOO.OOO
$1,000,000
under
$10,000,000
$10,000,000
under
$25,000,000
$25,000,000
under
$50,000,000
$50,000,000
under
$100,000,000
$100,000,000
or more
(U
(?)
(31
l<l
(51
(6)
(71
(81
(91
1101
Manulacluring
Number of rerurns other than Form 1120-DlSC
211563
5 014
89147
68 475
20.125
24 819
1,903
786
470
824
Reidins olher than Forms lt20S and 1120-DISC
wilh wo'K incentrve (WIN) credil -teins
NumDe< ol felurns
Number ol employees urKlet a wofK incenlive
(WIN) pfogram
2,642
11 342
CI
(•)
CI
CI
956
1,271
264
846
647
2301
4,403
562
852
94
256
127
531
1 155
121
226
13
45
88
354
763
80
153
13
16
82
551
1597
81
318
6
20
299
5.274
16,437
292
3.284
27
227
Tenlalrve work incentrve (WIN) credit
Number ol relurns
Amount
Work incenlwe (WIN) ceO.! carryovet
Number ol returns
Amount
2.246
5.732
375
776
(•)
(*)
CI
CI
659
500
C)
CI
252
300
38
12
Normal lax, surtax, and atternairve tai atiei
loreiqn tax and inveslrrwnl credils
Work incentive (WIN) credil
Number of relurns
Amount
7,048,962
2 103
5.336
n
(■)
(•)
CI
CI
CI
5.766
716
573
8 094
253
289
111 885
551
877
76,496
100
211
98,757
69
128
223.722
65
271
6.523.953
259
2.894
Helurns othe< ihan Forms 1 tSOS and 1120-DISC.
wilh lai from recomputing prior year work
tncenlive (WIN) credil
Number ol returns
Amount
172
359
-
:
CI
CI
CI
CI
62
54
8
4
3
9
11
29
270
Transponation and Public Ulilittes
90 226
3.734
13 985
23 379
4183
4 170
V.
J
Number of returns Other than Form 1120-DlSC
^.-.,
Relurns other ihan Forms 1120S and n20-DlSC
wilh work incentive (WIN) credit ilems
Number ol returns
Number ol employees under a work incentive
(WIN) program
Salaries and wages used lor cedii
163
694
2.179
_
-
CI
CI
CI
CI
CI
CI
42
45
133
73
569
1.B22
Tentative work incentive (WIN) credit
172
427
14
29
-
-
CI
l-l
CI
CI
33
25
CI
CI
71
366
S
20
Work incentive (WIN) credit catryover
Number ol returns
Amount
Normal la« Surtax and aitemalive lax ader
loreign tax and investmeni credils
Wotk incenlive (WIN) credit
1 396 156
ISO
406
-
-
CI
CI
CI
-
4,509
33
34
1.391.545
61
372
Amount .
Relurns olher than Forms n20S and n20DlSC
wilh la> Irom recomputing pnor-year work irKentive
(WIN) credit
Number ol relurns
Amounl
5
15
-
-
-
:
5
IS
596 16-
IS 14J
303 }2a
200 458
42599
32.628
1 186
V^
J
Number ol retyrns olher Ihan Form tlSODlSC
v
822
Relurns other Ihan Forms 1120$ and lt20-DlSC
with work incentive (WIN) credrl ilems
Number ol returns
Number ol employees under a work mcenlive
(WIN) program
Saianes and wages used lor credil
1 151
2712
4 921
1*)
1*)
(■)
CI
511
899
1530
137
305
376
286
752
1441
33
125
264
94
630
1.307
Tentative work incentive (WIN) credit
Number ol returns
Amount
Work incentive (WIN) credit carryover
Number ol returns
Amounl
991
975
230
9t
1")
CI
CI
CI
455
328
CI
CI
137
62
275
277
CI
CI
33
52
90
256
8
43
Normal tai surtax, and allemaiivt? tax alter
loreign ia> and mvesimenl credits
Work incenlive (WIN) credil
Number ol relurns
Amounl
493 081
1,078
939
fl
fl
CI
CI
CI
CI
4 827
489
352
3 075
125
50
36 789
259
232
31 009
33
52
16 531
84
253
Returns olher Ihan Forms 1120S and n20-DlSC
wilh lai Irom recompulmg pnor year work
incenlive (WIN) credil
Number ol relurns
Amounl
154
31
-
-
CI
C)
CI
CI
39
16
4
3
7
12
Foolnoles at end of table Seelexllor Explanation ol Terms and Description ol iho Sample and Limilalions ol Iho Data
158
Corporation Returns/ 1974
RETURNS OF ACTIVE CORPORATIONS, OTHER THAN FORM 1120-DISC
Table 24.— Work Incentive (WIN) Credit Items, by Industrial Division, by Size of Total Assets
|AII
ligutes are estimates based on samples— money amounts aie in Ihousands ot dollar$|
Total
Size ot tola! assets
Industrial dlvlsron. item
Zero
SI under
$100,000
5100,000
under
$500,000
under
$1,000,000
under
$10,000,000
under
$25,000,000
under
$50,000,000
under
S 100.000.000
assets
$500,000
$1,000,000
$10,000,000
$25,000,000
S50.000.000
$100,000,000
(1)
(2)
(3)
(4)
(5)
(61
(71
(3)
(91
(10)
^
J
Finance, Insurance, and Real Estate
V
Number Ol returns other than Form 11200ISC
425.249
19 378
211.623
127 521
23315
28.408
2,232
Reiurns olher Itian Forms 1120S and lt20-0ISC
wilh work incenlive (WIN) credil .terns
Number o( returns
286
—
—
I'l
(•)
48
56
130
Number ol employees under a work tncentive
(WIN) program
916
—
—
{•)
S3
66
766
Salaries and wages used lor credit
1 964
"
-
{•)
126
130
1694
Tentative wofk .ncentive (WIN) credit
Number ol returns
250
n
45
54
125
Amount
377
—
—
{•)
24
19
332
Work incentive (WIN) credil carryover
Number ol reiurns
26
—
—
—
CI
4
13
Amount
61
-
—
~
C)
t
54
Normal lax surtax, and aitemalive la« alter
loreign ta» and mvestmenl credits
893.763
—
—
(■)
3413
e.220
681 998
Work mcenlive (WIN) credil
Number ol reiurns
198
)■)
C)
45
80
AmounI
296
—
—
(■)
C)
15
243
Reiurns other Ihan Forms I120S and n20-DlSC
wilh la( from recompuling prior year
work incentive (WIN) credit
Number ot returns
26
—
—
—
—
C)
14
8
AmounI
23
~
"
"
~
C)
15
i
Services
388.680
12,434
i.
J
B.122
433
138
143
Number Ol reiurns othet Ifian Form 1120-OISC
367 410
Reiurns oltier Ihan Forms I120S and n20-DlSC
wilh work incentive (WIN) credil ilems
Number ol returns
609
—
481
89
14
7
18
Number ol employees under a work mcenlive
(WIN) program
1.616
—
943
325
7!
124
153
Saianes and wages used lo' credit
2 875
-
(■)
632
130
436
314
Tentative work incentive (WIN) credil
Number ol reiurns
429
(')
75
14
7
17
AmounI
573
—
CI
126
24
87
64
Work mcenlive (WIN) credit carryover
Number ol reiurns
177
V)
(')
3
5
AmounI
IBl
-
n
(')
(0
—
13
Normal lax. surtax, and alternative tax alter
loteign lax and mvestmenl credits
62 338
—
(■)
9 910
6.027
11,684
31235
Work incentive (WIN) credil
Number ol returns
530
425
74
12
«!
13
Amount
575
-
303
105
22
86
59
Returns other than Forms 1120S and 1120-D(SC,
with lax Irom recompuling prior year
work incentive (WIN) credit
Number ol reiurns
CI
(■)
(•)
C)
—
■~
—
AmounI
(•)
(*)
(')
CI
( ■ ) Eslimale is not shown separately because ol Ihe small number ol sample ;elurns on which il was based However. Ihe data are included in the appropriate lolals
'Includes "Argnculture, toreslry. and fishing" and "Nature ol business not allocable' whicti are not shown separeiely
'Less ttian S500 per relurn
NOTE See text for "Explanation ol Terms' and Oescnplion ol the Sample and Limitations ol the Data
Corporation Returns/ 1974
159
RETURNS OF ACTIVE SMALL BUSINESS CORPORATIONS. FORM 1120S
Table 25.— Number of Returns, Income Tax, Selected Tax Preference Items, and Investment Credit Property, by Industrial Division
(All
figures are estimales based on samples— money amounts are in thousands of dollars]
Total returns ol active
Small Business
Induatria
division
Corporations '
Item
Number of
returns
Amount
Agriculture.
torettry. and
flahlng
Mining
Conatrur-
lion
yanulac-
turlng
Tranapor-
latlon and
public
ullllllea
Wholesale
and retail
trade
Finance.
Insurance,
and real
estate
Services
HI
121
131
(4)
|S|
(61
171
(•>
(91
(101
Numbef o( reluins
333 099
-
17 178
2 363
37770
33.909
14.531
117.158
38.177
71.361
Nel long-iefm cawal ga'ft reduced by net shofi
lerm capital loss
21 859
428 761
90.287
23.336
26183
72902
24363
61540
91659
38471
Nel income
193.056
5 668 867
350073
256,342
612 867
950,462
201 820
2 208 130
386.930
692 300
Delicil
135 453
2 119 036
266 606
38 004
254,376
270,062
112 016
495 587
256 627
425.758
Income subiecl to cotpo'alion la»
319
15 151
fl
-
C)
CI
CI
CI
CI
CI
Nel lony term capital gam reduced by nel snort
term capital loss in excess ol S25.0OO
29<
14.299
ri
CI
CI
CI
CI
CI
Income tax
319
4568
CI
—
CI
CI
CI
CI
CI
C)
Nel long-term capital gam reported as a tax
preference ilem to Ihe Corporation
96
3.670
n
CI
CI
CI
CI
CI
CI
-
Returns with tax preleience items allocable
to stockholders
Number ol returns
8315
—
1.211
550
620
762
287
1.816
1 726
1.343
Net income
6.012
2,303
8 315
705,281
74,416
201689
50 636
17 266
24 588
133,803
C)
45 794
49749
CI
9,007
1 76 323
CI
32,061
25,633
CI
8,120
153.043
7.089
25.161
45953
9.234
39.605
70.141
Delicil
25.361
Tax preference rtems. lolaf
17,353
Accelerated depr»3cialion on oiner real property
3.284
10,207
271
CI
718
683
130
1.945
733
5.722
Excess percentage depletion
684
40,096
CI
36915
CI
CI
CI
CI
-.
C)
Net long term capital gam alter lax
4 330
149977
24254
8.772
8.029
29.961
7665
21.449
38 825
11,022
Helurns wilh cosi Of investment credil piopeny
allocable lo stockholders
Total assets
139 448
35,254 900
2835,707
709.507
4616945
5,922,096
1.495.454
12.616950
2.341,286
4,690076
Depreciable assets
136 969
18,269 799
t.846.732
487 693
1,674,585
3408 582
1394,299
4,604.547
719 280
4 122,457
Accumulated depreciation
138 429
7 911994
734.644
230 434
813601
1,723,375
567,391
2,126516
166,653
1,525,225
Depreciation deduction
139 079
1,767 173
173.701
62 486
214,639
310,265
161.817
459.351
44780
336,677
Cost 01 property usable tor investmenl credi!
Total
139.740
2569.936
309,980
115.958
277,840
486,625
280457
657.402
60.520
378.467
Cost ol new property
127 521
2143.879
266,396
91-544
226,752
410.252
221 431
551.493
54.800
318.524
Cost ol used property
43 256
413.550
43.584
24,394
51,088
76 198
59026
94.355
5 720
59.185
New or used property not staled
414
12507
CI
'
CI
"
CI
'^
CI
(*) Eslimate is not shown separalely because ot the small number ol sample returns on which ii was based However, Ihe dala are included in Ihe appropriate totals
'Includes ' Nature ot business nol allocable which is not shown separately
NOTE See teicl tor Explanation ol Teems and Description ol ihe Sample and umilalions of the Data
160
Corporation Returns/ 1974
RETURNS OF ACTIVE SMALL BUSINESS CORPORATIONS. FORM 1120S
Table 26.— Selected Balance Sheet and Income Statement Items, Income Subject to Tax, Tax, and Distributions to Stockholders, by
Industrial Division, by Size of Total Assets
(All figures are estimaies based on sampies—money amounis are m ihousands ot dollarsj
Industrial division. Hem
All Industrial Divisions'
Number ol 'elurns
Willi and wilhoul nel income
Wilh nel income
Total assels
Notes and accounis receivable, net
Invenloties
Cash, Government obligalions, and olfief cufenl assets
Olher inveslmenis and loans'
Oeprecial3le assels
Less Accumulaled depreciation
Other capital assels less reserves'
Accounis and notes payable'
Other current liatJililies
Mortgages, notes, and bonds payable m one year or more
Nel wonh
StocKholders" undislnbuled la-abte income previously
taxed
Total receipts
Business receipts
Nel long-lerm capilal gam reduced by nel shortlerm
capital loss
Ck>st ol sales and operations
Taxes paid
Interest paid
Depreciation
Pension, protit-sharing. slocli bonus, and annuity plans
Employee benedl programs
Net income (less delicii)
Nel income
Income subiecl to corporalion lai
Income ta«
Credit tor lax on special fuels, nonhigliway gasoline and
lubricating oil
Dislnbutions to stockholders except m own siocti
Number ol stockholders
Agriculture, Forestry, and Fishing
Number ol returns
Wilh and wilhout nel income
With nel income
Tolal assels
Notes and accounis receivable, net
Inventories
Cash. Governmeni obligations, and other current assels
Other investments and loans-
Oepreciable assels
Less Accumulated depreciation
Other capital assels less resen/es'
Accounis and notes payable"
Other cuFieni liabilities
Mortgages, notes and bonds payable in one year or more
Nel worth
Stockholders undistributed taxable income previously
taxed
Total receipts
Business receipts
Nel tong term capital gai
capital loss
Cost ol sales and operations
Taxes paid
Interest paid
Depreciation
Pension, profit shanng. slock bonus, and annuity plans
Employee benelil programs
Net income (less delicill
Nel income
Incorrw subiect to corporation tax
Income lax
Credit lor la« on special luels. nonhighway gasoline, and
lubricating oil
DislriDulions lo slocltholders except in ovKn stock
Number ol stockholders
■educed by nel short term
Total
returns of
active
Small
Business
Corporations
(11
333.099
193.056
53.919325
10166.189
10,917.0-10
8.570.705
3.5'17.n6
24,876.085
n. 050.437
4.888 874
17,267.469
3.472,405
10.923.165
14,986,003
2.434.520
123.143.669
120.307,229
428,761
85.807 612
2.624.580
1,593 647
2.366.678
327.756
274.393
3.549,831
5 668 867
15.161
4 568
2.144
2 106.297
832,493
8,732
3.879 290
249.204
315616
298.235
276.272
2,379,104
976.885
1.198,540
913.718
74.212
1.169,625
1 106.485
-131,099
90.287
2.407.929
88.711
147,623
223.685
4.519
2,215
83.467
350,073
(•)
(■)
858
91.042
56.211
Size of total assets
864 957
812.243
20 185
609.907
26,413
CI
15.338
24.985
212.010
112,545
7 017 462
1058 578
1,276 340
1 373,464
481.158
4,222 612
2.162.438
420.892
2 018.274
519,475
1.025 617
1.595,041
-475.420
25,440,342
24 973 193
104 733
15 204.995
675 751
198,580
505,191
60,812
56.390
341,114
1.128 109
474 738
469.920
7.560
3,386
281 751
13,002
10.642
75.988
69.450
6,199
55.133
38.710
492.415
462.360
14,320
301,822
10.837
21,258
65.217
(■)
(•)
21,620
S 100.000
under
S250,IX>0
9 435 419
1 851 316
1 874 909
1,429,420
633 386
4,813 669
2.302.486
842.826
2.730,794
526,204
1.628.840
3,225,357
675,748
23 730 356
23312,133
61 564
16 034.989
559,385
243.284
473,921
53,912
53.052
809.929
I 127 452
n
(•)
262
380,336
165,774
720,225
41,324
51.54!
56.86
42 649
503 291
211,016
204.
162,958
10,025
203.848
178,31
-31.504
749.587
697.078
14.420
488,302
22.162
27.987
49,043
(•)
(■)
6.361
68 932
CI
C)
S250.000
under
SSOO.OOO
28 905
20 913
9,950.656
1 857 626
2 140 270
1 360974
621 679
4,909.195
2,230.725
944.101
3,084.579
563,589
1.911.191
3,261646
824,950
21 766.886
21 227 583
59.803
15.279 797
426,876
291.211
437 700
63.116
42.975
771696
1,049 247
CI
344,325
89 609
1,680
1,011 672
39.053
90.708
76.385
50.588
654.253
283,281
333,137
215.772
12.427
238,147
469,777
50.795
773.694
723.903
16 557
407,502
21,465
27.275
57,275
CI
C)
58,03
100.149
S6O0,000
under
$1,000,000
14.217
10.220
9.572,205
1.928.253
2,137 375
1,380.474
553 914
4,363 988
1 881 140
902.144
3 165 289
604 995
2 046 821
2.821.637
759,638
60.290
6,108.088
377 593
300.118
376,307
57.792
36.670
725,912
964.7
362.178
50,729
657
895.029
58.172
79.524
56.930
59.974
520.127
203.863
296.358
224.317
19.158
316.129
235,585
-8,942
15 348
555.808
14,638
34214
45.565
-3,097
51,628
12,459
4,657
SI. 000.000
under
SS.000.000
7 528
5 081
13 325 046
2 637 578
2 726 872
2 092 394
851 993
5 294 462
2 065 171
1.286 841
4 753 485
936 123
3 039 639
3.129 866
637,643
26 084.247
24 433,201
95 742
19,071 204
436 139
425 676
465 104
82.197
64.656
816.140
1,14!
817
n
C)
381
434,991
29 982
S5.000.000
under
SI 0.000 .000
166
2 126 975
483.894
327 601
490 126
132,793
612 326
189.243
232919
792 187
I8t.620
675.737
263 056
10 069
2.446.900
2 346 833
28 286
1913.625
42.361
69.041
46.409
8.084
e.526
74.792
120-659
1*1
CI
575
288
970,512
97.653
83.197
66 290
106.043
478.499
172,331
288.616
241,211
26.403
376.368
164.102
-33.956
913.507
849,537
20.815
637.369
16,747
1 335
636
61
2 391562
348 944
433 672
443 653
372 193
669 943
219 234
259 149
722,861
140.399
595.320
689 400
1872
2 195 957
2 093 398
8,168
1 685 007
78 062
49,329
42.358
6.080
9 004
44.813
78063
Footnotes at end of table See text lor Explanation of Terms and Description of the Sample and Limitations o! the Data
Corporation Returns/ 1974
161
RETURNS OF ACTIVE SMALL BUSINESS CORPORATIONS. FORM 1120S
Table 26.— Selected Balance Sheet and income Statement Items, income Subject to Tax, Tax, and Distributions to Stocichoiders, by
Industrial Division, by Size of Total Assets— Continued
[All figures are estimates based on samples— money amounls are m ihousands ol doltars)
Industrial division, item
Numfiei ot returns
Willi and wilhcKjl net income .
W'tti nel income
Total assets
Notes and accounts lecewalxe nel
Inventories
Cash. Gdve<nmenl obliQalions and other cwrefll assets
Otiier investmenis and loans'
DepreoabJe assets
Less Accumulated depreciation
Other capital assets less reserves'
Accounts and notes payable'
Otticr curteni liatxiities
Mortgages, notes and bonds payable m one year v more
Nel wortti
Slochholders undrstnbuted laiablo income previousty
ta»ed
Total receipts
Business receipts
Nel long term capital gam reduced try net short term
capital loss
Cosi ol sales and operations
Taies pad
Inlerest paid
Depreciation
Pension, prolil Sharing, slock bonus. and annuity plans
Employee benelil programs
Net income liess delotl
Net inctMTie
Income subiect to corporation taj
Income tai
Ciedil lor la, on special luels. nonhighway gasoline and
lubrrcating oil
DislributKins to stockholders eicept in own stock
Number ol stockholders
Constnjctton
Number ol returns
With and without net irKome
Wilh nel i.Tcome
Total assets
Notes and accounts receivable, nel
Inventones
Cash Government obligations and other eutrenl assets .
Other investmenis and loans
Depreciable assets
Less Accumulated deprecation
Other capital assets less reserves'
Accounrs and noles payable'
Other current liabililies
Mortgages noles. and bonds payable m one year or more
Net worth
Stockholders undistributed laiable income previously
ta»ed
Toial receipts
Busiriess receipts
Net tong-term capital gam reduced by nel short-term
capital toss
Cost ot sales and operalrons
Ta«es paid
iniercsl pard
Depreciation
Pension, protit-shanng. stock txxtus and annuity plans
Employee benetil programs
Nel income (less delicit)
Net income
Income subiect to corporalioh tai
Income lai
Crerjit lor tar on special luels nonhighway gasoline, arrf
lutxicating oil
Distributions to stockholders eicepi in own stock
Number ol stockholders
Total
returns of
active
Small
Busmesa
Corpofattons
(II
2.363
1,374
952769
173.019
30418
203.36?
57 607
606.312
299.719
54 265
231 403
61091
102637
276 939
75.216
23336
918.035
42 914
73 105
3090
3558
216338
256 342
109 930
6 824
Sue of total assets
Zeto
assets
37.770
23 266
7,613.861
1 790.432
1.602 322
1.676,471
477 061
2 196-935
1 055 323
465276
3 155 628
750.380
1 171 780
1.333 580
316350
15.353156
15.128.799
26.193
12.011.560
315,753
201-089
270 836
55.264
46621
356.491
612867
fl
201.641
80.137
n
50.601
fl
n
7,312
CI
47,235
32431
fl
fl
-39,002
84,979
74761
fl
fl
3321
5173
fl
S 100.000
undef
S2SO.000
826076
158 795
94,673
205,487
33,829
461,298
211,085
53,555
290 734
57,779
127 657
200 768
32 764
3263,121
3,248,981
2,338
2,343 842
92-562
26,449
66,795
12,554
10636
60260
151,844
fl
48,639
45,709
fl
48 261
fl
I'l
fl
fl
fl
-7,064
-6,624
112,380
fl
15602
fl
1250.000
under
tsoo.ooo
6 949
4,965
1 134 344
291390
203,141
205015
87 634
452 153
221 149
61 550
398 183
65931
178,711
371.648
103,376
2931 682
2,898.306
4.992
2 148,993
78,262
26,836
57,973
14 211
12,393
110 434
146.356
fl
43.026
16.189
124 042
32 620
fl
23.093
fl
99.606
53,676
fl
34 335
5,187
fl
33,539
15,320
197,363
181,871
101 844
7268
27,563
35,391
2155
1063,163
296,446
233 369
206 300
77 982
357 015
177 622
54 159
474026
62,858
143203
255 859
67 490
5,002
1,794910
45,570
27,913
42 021
5,036
5126
70,654
103,679
fl
31,209
8175
1500.000
under
t1.000.000
137,418
23 139
CI
28 623
5924
115217
50 902
6,335
34,471
9,137
27455
56,468
14,231
214,791
197,212
2,457
14,690
fl
fl
33,179
38 305
11,000,000
und«f
tS.000.000
994
1 1 16898
291 174
197065
249 720
67 338
343 097
168,381
72,314
491 702
95,259
184 753
160 940
34 566
2356,747
2,308,062
4827
1937,575
40 498
34,417
42.483
4.219
3.302
28356
62 451
20.653
4722
175
162
326 721
61 793
13 730
76669
23-686
210 88
95 769
29,299
76,992
16 584
38,256
161838
59,502
4 550
197 144
15,772
5583
28,236
1,400
2,610
97 241
102,
40,253
623
tS.000,000
under
110,000,000
SIO.OOO.OCO
or more
705
2 230 834
577 145
518,386
487 057
146,005
456 020
232 396
128 000
963,986
303,582
335 903
289,923
76,227
3,581,360
3,522,646
2,053
3,000,085
56,116
58,218
50,583
16662
11 791
58,897
113415
fl
165726
46300
7,997
47642
1423
82,515
37 224
8,279
56 063
9378
20,941
71,160
33,268
515453
511281
310
416,939
6,668
44
550 940
110 976
129 464
170,818
23409
56,996
21,291
70,389
222,256
107,806
101 074
22 779
1 496
555,636
539,886
2604
473,036
7,358
15,126
5,203
2,000
3248
7 936
18275
20
591606
94 506
227 224
153.074
40.964
60 366
23.399
25.310
314,741
37,165
100 479
31,764
431
328,264
308,466
1 970
268,927
4,626
8,208
5.513
582
125
4,603
9,590
7266
9(
Footnotes at end ol table See tevl lor Explanation ol Terms and Description of the Sample and Limitations ot the Data
162
Corporation Returns/ 1974
RETURNS OF ACTIVE SMALL BUSINESS CORPORATIONS, FORM 1120S
Table 26.— Selected Balance Sheet and Income Statement Items, Income Subject to Tax, Tax, and Distributions to Stockholders, by
Industrial Division, by Size of Total Assets— Continued
[All figures are eslimales based on samples— money amounis are in thousands ot dollars]
Total
returns of
Size of total assets
Industrial division, item
active
Small
Business
Zero
assets
St under
St 00.000
stoo.ooo
under
S250,0O0
$250,000
under
$500,000
S500,000
under
11,000,000
S 1^00,000
under
55,000,000
$5,000,000
under
$10,000,000
SIOOOO.OOO
or more
Corporations
111
|2|
131
(41
(51
161
(7)
(SI
(91
Manufacturing
Numbei ol felufns
With and without net income
33,909
1,076
20,645
5,747
3 261
1,883
1,228
36
1]
With net income
19,7<5
C)
10,564
3,602
2 669
1,543
979
26
8
Total assets
7,178,550
_
660,863
986,885
1 147,673
1273144
2 112 724
234 646
762.613
Notes and accounts receivable net
1681,2.13
—
145,510
258,549
293,339
316670
494,286
56 636
116.053
Inventories
1 560,592
—
131,690
179478
255,163
317 552
539,363
64 319
73.027
Cash, Government obligations, and other current assets
932,459
—
95,958
145 956
155 350
176 375
282-383
34213
42.224
Other investments and loans'
577,355
—
39,563
33614
46,878
70,414
91,915
16259
276.712
OeprecialJIe assets
3,944,638
—
414927
601,090
729,608
721,325
1,166,513
104 146
207,029
Less Accumulated depreciation
2,011,467
-
202,979
294,808
409 425
387,583
551,428
57851
107,413
Other capital assets less resenres'
322 717
_
11,541
32,447
39 086
34,200
55 207
10,668
139,568
Accounts and notes payable'
1 940,762
—
191,064
310,862
319 566
352 290
616 876
61,565
88,537
Other current liabilities
526,801
—
75 766
65 740
82,764
108,679
157670
13,766
24,416
Mortgages, notes, and bonds payable in one year or more
941213
—
93,549
154,058
153,140
165 603
286 625
25 804
62,434
Net worth
3,041,299
—
104,060
318863
500415
535676
914 107
131471
536,687
Stockholders undislnbuled laitable income previously
taxed
650,317
-
-51 417
61 503
198,295
172 745
245,736
12 082
11373
Total receipts
16,794 060
50 401
2073,930
2555,022
2,795,082
3,395,785
4,911,503
403,620
608,717
Susiness receipts
16,502,974
45,069
2,049 532
2,536 706
2 760414
3,358746
4,821 126
372,400
558,981
Net long term capital gam reduced by net short term
capital loss
72902
fl
CI
CI
5490
6,390
25 379
21 719
4,268
Cost ot sates and operations
11,974,631
CI
1 283,890
1,690,893
1,993,085
2 568,202
3,670,930
299,185
438,047
Taxes paid
415,070
1 127
72,403
71,661
66,829
75719
96 197
8,892
22242
Interest paid
171,085
1,383
20 034
25,687
24,718
31,665
51 194
5,819
10,585
Depreciation
368,409
CI
57,076
61,155
66,366
55,092
105,381
8,160
13,150
Pension, protit-sharing stock bonus, and annuity plans
73,167
CI
4,649
6,244
14,057
17,309
25 461
1 471
3,954
Employee benefit programs
68 329
CI
7,914
12,304
10,461
10,733
17,398
2,624
6,820
Net income (less deficit)
680,400
642
-6,100
74,644
132,779
164 951
278,934
29515
5,035
Net income
950,462
CI
96862
131,799
158,136
196 597
313,513
35,542
13,321
Income subject to corporation ta>
CI
_
-
_
-
_
CI
fl
_
Income lax
fl
—
—
—
—
—
C)
fl
_
Credit for tax on special fuels nonhighway gasoline, and
lubricating oil
167
—
CI
CI
CI
CI
73
fl
11
Dislnbutions to stockholders except in own stock
362,041
CI
41 026
34,608
56.188
79,276
118,843
16,211
12,587
Number of stockholders
89,698
2,397
46,991
16,774
10,230
7032
6 091
147
36
Transponallon and Public Utilities
V
J
Number of returns
With and without net income
14.531
CI
8701
3,199
1,062
574
222
12
With net income
6,716
CI
3564
2,056
610
329
146
8
Total assets
2,071 730
_
297 266
488 507
376,351
366463
418440
124,703
Notes and accounts receivable, net
411,368
43623
-
44 648
8 426
66,463
4,804
91,892
4,999
104,314
10,134
88 5S8
9585
15,433
5.675
Inventories
Cash, Government obligations, and other current assets
309 120
—
56 548
95181
51,429
36,794
52,138
17,030
Other investments and loans'
72 304
—
6115
14,606
20,881
5151
15018
8 533
Depreciable assets
1,815 tie
—
264 604
477,858
301 465
298652
359,072
113,267
Less Accumulated depreciation
768736
-
117375
211264
134 492
123 360
138,581
43,664
Other capital assets less reserves'
72,414
_
6061
13,765
13,477
15,921
19476
3,694
Accounts and notes payable'
633,194
—
93,767
129,227
110,002
123,794
151,291
25.113
Other current liabilities
125014
22,364
19.729
35,423
17,001
24,571
5.906
Mortgages, notes, a^d bonds payable in one year or more
554,845
—
67,345
123.177
106.304
106,966
111,168
39.685
Net wonh
403,400
—
14,505
144.472
24.839
81,212
93,385
44,987
Stockholders undistributed taxable income previously
taxed
-77 158
4,384 765
4,248,154
CI
CI
-53279
1,219,806
1,180,248
-10,282
1,046 453
1,017,273
-48,546
633,638
601,938
18,664
762,492
749205
9865
541 160
525 746
6.420
161,400
159,174
Total receipts
Business receipts
Net long-term capital gam reduced by net short-term
capital loss
24,383
CI
CI
CI
CI
C)
2,626
127
Cost ot sales and operations
2,771,467
CI
793,651
643,460
386.794
502,971
330 799
105,789
Taxes paid
156,706
CI
35,961
43,720
21,993
24,685
24,334
6.502
Interest paid
78,847
213,995
CI
CI
14,467
39,989
18,779
66,111
16,109
32,955
11,703
35,958
14 142
30,530
2.723
5.656
Depreciation
Pension profit shanng stock bonus, and annuity plans
17971
—
CI
CI
3,820
5,098
3 586
2.142
Employee benetil programs
21,187
—
4 828
4 824
2,944
3278
4,619
694
Net income (less deficit)
89,804
CI
-12,702
42,597
1,919
25 806
21,384
14.288
Net income
201,820
CI
31,520
62,773
16,685
37,094
32 647
16.283
Income subject to corporation tax
fl
-
-
-
_
-
f)
-
Income tax
CI
f)
Credit for tax on specrat fuels, nonhighway gasoline, and
lubiicaling oif
249
—
CI
CI
C)
fl
C)
1
Distributions to stockholders except in own slock
80,422
C)
19 067
22,592
5472
11 794
13593
7,778
Number ot stockholders
35,869
CI
18,939
9,435
2838
2 129
941
50
Footnoles at end ol labie See text ror "Explanation ol Terms' and "Descnption ot the Sample and Limilahons o( Ihe Data
Corporation Returns/ 1974
163
RETURNS OF ACTIVE SMALL BUSINESS CORPORATIONS, FORM 1120S
Table 26.— Selected Balance Sheet and Income Statement Items, Income Subject to Tax, Tax, and Distributions to Stockholders,
Industrial Division, by Size of Total Assets— Continued
jAtI figures are estimates based on samples— money amounts are m thousands o( dollars!
by
Industrial division, item
Wholesale and Retail Trade
Number ol relufns
Wilh and *ilhout nel income
Wilh net income
Total assets
Notes and accounls recervable, net
Inventories
Cash. Government oCiigations and other current assels
Other inveslfpenis and loans'
Depreciable assets
Less Accumulated depreciaion
Othe' capital assels less reserves'
Accounts and notes payable'
Other current liabilities
Mortgages, notes, and bonds payable m one year or more
Net worth
Sloch holders undistributed taxable income previously
taxed
Total receipts
Business receipts
Net lor>g-term capital gam reduced by net short term
capital toss
Cos! ot sales and operations
Taxes paid
Interest paid
Depreciation
Pension, prolil shanng. sloch bonus and annuity plans
Employee beneiii programs
Nel income (less deficit)
Nel income .
Income Subiect to corporation tax
lncoiT>e lax
Credit to( lax on special luels. nonhighway gasolme and
lubncaling oil
Distributions lo stockholders except m own slock
Number ol stockholders
Finance, insurance, and Real Estate
Number ol returns
With and wilhoul nel income
With nel income
Total assets
Notes and accounls receivable net
Inventories
Cash. Government obligalions, and other current assets
Other inveslments and foans-
Depreciable assels
Less Accumulated depreciation
Other capital assels less reserves'
Accounls and notes payable'
Other current liabilities
Mortgages, notes, and bonds payable m one year or more
Net worth
Stockholders undistributed taxable income previously
laxed
Total receipts
Business receipts
Net long-term capital gam reduced by nel shoflterm
capital loss
Cost ol sales and operations
Taxes paid
Inletesl paid
Deprecialion
Pension prolit -shanng. slock bonus, and annuity plans
Employee beneM programs
Nel income (less delicil)
Nel income
Income subject to corpoiaiion tax
Income tax
Credit lor lax on special luels. norihighway qasolme and
lubricating oil
Dislnbulions lo stockholders except in own stock
Number ol slockholders
Total
returns of
active
Small
Business
Corporations
(1)
18,677.508
3 886 504
7 057 925
2.340.322
826.050
6,645265
3.226.900
625.746
6790.040
1,159.272
2.266.281
6.588,132
1 915 462
66.481,520
65,577,016
61540
49 105.795
1.035,806
464 438
636.135
%234
64,115
1.712.543
2 ?08. 1 30
(•)
Size of total assets
Zero
assets
38 177
19 934
6 743 009
1 171 331
35.293
1 917 734
611 709
1.283 807
335 534
1.529 581
2 200 611
349.811
2 019,272
1 037,947
- /3.692
3 021 908
2 368 246
91,659
630.908
99 643
219.530
74.980
13.712
9.692
130.303
366,930
D
399 105
390 294
219457
11629
4,655
7,361
(•)
(•)
-10,467
12.376
98,220
(')
(•)
{•)
6 166
CI
4.238
69.349
36.615
2.756 570
377 627
957 455
453,806
108,670
1317.217
679,273
79,314
656,304
201 003
334,292
631.624
-971
28,183
7 926,970
275 768
59.616
147,56
16.428
12631
116 237
367,497
S 100.000
under
$250,000
24.521
12.745
(')
216.333
138,656
224,120
98.756
137 432
173,727
50,196
121 673
177211
-109 409
1.151538
1.026 528
33,071
308 698
34,211
23.560
23,999
3.959
3.379
62.126
138,042
66.697
63,418
3.889999
779,220
1.359.166
542.182
176,835
1,654,900
611 157
1.178,113
220 378
518.864
1 642.263
486 565
13,480,685
13,358.074
4,650
9,745,260
227 930
130,182
13 435
14 966
385973
461,276
$250,000
under
$500,000
6,054
3.706
948.730
207 116
CI
179,851
114 292
164,589
55,001
278,178
282.203
47,906
167,473
276,617
30 017
18.015
{'I
16.347
1543
50.319
69 968
26.778
20 434
3 944 441
785 105
1.514,801
481 161
175 404
1 458 966
679 441
113.619
I 390 569
224.26
493.599
1.470,463
503 637
14.190
9,762,729
183 769
101,518
137,787
21.176
16.109
418.5
485 757
(•)
(■)
C)
154 819
35 094
$500,000
under
$1,000,000
1,074,633
211,936
{*)
239,912
144.632
219 222
64.854
26180/
318.719
39,033
288 916
233.957
28.917
420 666
306 408
6.659
37 675
16612
41.689
15 186
2 733
1,999
7.707
67 402
Footnotes al end of lable See text lor Explanaiion ol Terms and 'Description of the Sample and Limiiaiions of the Data
5 521
4 696
3.792.262
656 444
1 494 555
430 957
166978
1 211 013
547.144
114,463
1 467 663
214.319
453 545
1 367.308
512.932
4 345
9,746.098
141.893
99.934
107,012
23,070
16.743
379 256
424 39
$1,000,000
under
$5,000,000
1.018 847
162,020
138 413
151
37 143
229,778
299,463
279 569
174.006
395,326
296.371
13 199
126.143
12.095
36.522
10,293
1.784
1 072
26.592
52 069
CI
25.815
5 652
3.725 672
900 670
I 502 007
364.895
179.691
1.008,418
465.730
1458
1.604 585
261,984
387.347
1,251.027
390,387
12682279
12,491032
8,637
10.232.409
147,83
104,381
96,547
20.17
19,965
372,769
406, '55
$5,000,000
under
$10,000,000
1034
465
CI
612 852
206,1
30l,V
60,904
471,208
766,544
59.664
679.457
174,823
-3,392
364,047
216757
12.929
36,746
14,273
366,081
136.74!
123 059
35,929
11,298
63,310
32 884
21,693
196 392
14,284
66.565
62,1
17.116
1,115,609
1,103,505
CI
946,145
10.684
10 642
6.666
1.306
1.066
32,962
33 339
CI
16.201
202
642 994
124,348
CI
185.967
36 891
103.434
6.403
96.272
244 068
27.601
224,080
-120
40 591
CI
CI
CI
2.670
17.758
2.900
-9.086
CI
$10,000,000
or more
202 483
51.897
106.682
11 402
7,174
3,296
97,494
23.023
12.049
53,129
6.814
639.572
633.227
694
527,737
36,302
2.403
3,019
596
1,626
1 7.302
17,339
6.269
32
453,617
48,616
191 267
32 709
119,700
10.473
52.906
126.087
33.901
258.205
1.254
,-6.955
36.962
15,747
1,031
2,224
2.803
12.587
2,066
-3,458
3,160
164
Corporation Returns/ 1974
RETURNS OF ACTIVE SMALL BUSINESS CORPORATIONS, FORM 1120S
Table 26.— Selected Balance Sheet and Income Statement Items, Income Subject to Tax, Tax, and Distributions to Stockholders, by
Industrial Division, by Size of Total Assets— Continued
lAII
(igures are estimates based on samples— money amounts are in ihousands ol dolldrs]
Iftduslrlal divttlon. Item
Total
returns of
active
Small
Busir>ess
Corporations
Siie of total assets
Zero
assets
SI imder
StOO.OOO
SIOO.OOO
under
S2S0.0OO
S2SO.OO0
under
SSOO.OOO
SSOO.OOO
under
SI. 000.000
SI. 000.000
ur»der
15.000.000
SS.000.000
uf>def
StO.000.000
StO.000.000
or nwre
(1)
Numt)er of returns
Witrt ana wilhoul net income
With net income
Total assets
Notes and accounts receivable, net
Inventones
Cash Governmenl obligations and other cunent assets
Ottwi inveslmenis and loans'
Detxeciable assets
Less Accumulated depreciation
Other capital assets less reserves'
Accounts and notes payable-
Other current liabilities
Mortgages, notes, and bonds payable in one year or more
Net worth
Stocliholders undistnbuted taxable income previously
taxed
Total receipts
Business receipts
Net long-lerm capital gam reduced by net short-term
capital loss
Cost of sales and operations
Taxes paid
Interest paid
Depreciation
Pension, prolit shanng stock bonus and annuity plans
Employee benetit programs
Net income (less delKiit)
Net income
Income subiect to cor[)oration lax
Income tax
Credit lor lax on special tuets. nonhighway gasoline and
lubncating oil
Oistnbulions 10 stocliholders except in own stock
Number ot stockholders
71.381
37.610
6.962.907
795096
264.528
887 238
443.513
6.001713
2368.793
619
1 387.205
421.420
2 673 953
1 180 981
-.245.987
11.623.934
11.328.922
38.471
5.888.433
466271
291 670
503.780
63.726
38.676
266 542
692 300
n
34
310.429
168.242
2.759
n
175.886
171.298
n
109.057
7 156
2692
3163
55092
28.248
1356.764
187.693
65.549
291457
122.433
1 263.802
709.606
53.096
329 307
95.586
217629
256.548
-147.497
4.667.457
4.600 528
8.328
2.176.696
160.132
36.353
139.392
22.305
16.628
72.653
259.241
n
107 500
118 752
7.539
5.478
1.218467
204 611
75799
184 545
63 013
1.008.820
468.374
102.089
251 595
86.236
281066
400.057
42.697
2.339.981
2.290 694
38.198
93.314
13167
6115
121.999
166275
CI
76.522
23.581
3467
2.244
1 194 777
116 490
34.627
126.523
86152
1082.715
425.711
124.011
210.812
81.400
478 40
270.100
7.094
I'l
752387
62494
47439
76.688
5.161
5864
49.436
64.553
CI
I'l
32.734
11.407
1.063.897
104 405
17560
110.410
39 685
1 002.371
362.465
132.775
169 759
47.960
512.801
206278
2.020
1 117.931
1.066.853
9 149
550.941
60.993
49.206
64.178
5.091
2.610
68.410
99.714
91
416
1634 507
144 775
46.450
131 739
86.580
1326 957
351 71'
157 677
343.479
87.078
841967
62.502
-109.237
1659.741
1.591 544
11.325
969 920
68 323
90 063
103 293
11 436
6.474
-7045
75 141
CI
41.370
3.329
CI
294.005
33 016
10990
30.324
CI
190919
32.565
19.565
50 125
11 443
214 908
-8.875
-21.932
115.479
113 452
45490
5.806
16.565
13.747
CI
CI
-7921
CI
200.490
4.106
13.533
12240
8078
126.129
18355
29.908
32.128
11.717
127.191
-5.629
-19.132
113.390
110.921
11-134
10.005
465
354
-12.977
(*) Estimate is not shown separately because c( the small number ot sample returns on whicfi it was based However, the data are included in Ihe appropriate totals
'Includes Nature ol business nol allocable which is ,iot stiown separately
'Includes loans to stockholders, mortgage and real estate loans, and olher investments
•Includes depletable assets less accumulated depletion land, and intangible assets less accumulated amortization
'Includes accounts payable and mortgages, notes, and bonds payable m less than one year
NOTE See text tor Explanation ot Terms and (Description ol Ihe Sample and Limitations ol the Data
Corporation Returns/1974
165
RETURNS OF ACTIVE SMALL BUSINESS CORPORATIONS
Table 27.— Stockholders, Business Receipts, Net Income (Less Deficit), Distributions to Stockholders, and Net Worth, by Industrial
Division, Size of Total Assets, and Number of Stockholders
|All figures are eslimales based on samples— money amounis are m ihousands ol dollarsl
Number ol stockholders and item
Total Returns ol Active Small
Business Corporations
Number ol returns
Number ol slochholders , , .
Business receipls-
Nel income (less deficit)
Nei wonh
Distributions lo siocKholders eicepi tn own slocli
Returns With 1 Stochholder
Number ol teiurns
Business receipts'
Nel income (less dedcil)
Net worth
Disinbutions lo slockholders except >n own slock
Returns With 2 Stockholders
Number ol reiurns
Business receipIS'
Nel income (less delicil) ,
Nel worth
Distributions lo stockholders except
own slock
Returns With 3 SlockhoMers
Number ot relums
Business receipts'
Nel income (less deficit) ,
Nel worth
Distributions to slockholders except m own stock
Returns With 4 StockhoWers
Number of returns
Business receipts'
Nel income (less dedcit)
Net worth
Distributions to siockholders e<cepl m own stock
Returns With 5 Stockholders
Number ol 'etwns
Business receipts'
Net income (less delicill
Net worlh
Distributions 10 slockholders e>cept m own stock
Returns With 6 Stockholders
Numlwr ol retu'ns
Business receipts'
Nel income (less deficil)
Net worth
Distributions to slockholders e«cepl m own stock
Returns With 7 Stockholders
Number ol returns
Business receipts'
Nel income (less deficit)
Nel worth
Disinbutions to slockholders e»cepl in own stock
Returns With 8 Stockholders
Number ot returns
Business receipts'
Nel income (less deficit)
Nel worth
Oslribulions lo stockholders eicepi m
Slock
Returns With 9 Stockholders
Number ol relurns , . .
Business receipls'
Net incofTw (less delicii)
Nel worth
DiStnbulions lo slockholders e»cepl m own slock
Returns With 10 Stockholders
Number ol returns
Business receipts'
Net income (less dedcii)
Net worth
DiStnbulions lo slockholders except in own stock
All Industrial dtvisions'
333,099
832.J93
120 960 989
3 549 83
I J 986,003
2 t08.297
103,786
24 334.952
232 973
2317.746
315,003
111,970
34 891 329
904,812
3,873726
492,752
50,797
19,972 593
635,844
2,398.330
347,668
32.178
15.692,287
496,520
2,006,938
295,751
12,806
8 332.^87
376.352
1,374.850
189 no
8.150
5,307,904
829,598
147097
4 592
3627,534
177,101
557 286
75.499
3.657
3.188.450
175 834
585 656
62 284
2296
2.432.857
141626
462,512
75 749
2,667
3.180.496
196,922
589,361
107 384
Size of total assets
Under
S 1.000,000
325 151
801.017
91 887.510
2,614 066
10,903,681
1.576,915
102.660
20.137.265
196,800
1 464,643
246,307
1 10,228
29 662.699
776 740
3161.119
410,376
49,590
16063 190
533.37
2.005.907
275,269
31,093
11 615351
357,274
1555,784
224.531
11,965
4.854.649
248.971
943,755
135 110
7682
3,230.903
129 5%
552 768
100839
4 262
2.000.711
122,779
372 887
49816
78,796
312,401
35,931
2,036
1 .293,058
80.739
262 332
45,052
2452
1332,630
67.020
271.885
53.684
$1,000,000
or more
7,948
31476
29,073,379
935,745
4082 322
531 382
1 226
4 197 687
36.173
852 903
68 696
1 742
5 228,630
126,072
712607
82,376
1.207
3,909,403
102473
392,423
72,399
1,085
4.076,936
139 246
451 154
71220
841
3 477.836
127 381
431.095
54 000
468
2077.001
82 251
276.830
46,258
330
1626 823
54 322
184 399
25 683
374
1 491,396
97 038
273,255
26 353
260
139,799
60 887
190,180
30.697
415
1847 866
109 902
317,476
53 700
Agriculture, forestry, and fishing
17 178
56,21
3 519,51'
63.467
1 106.485
91,042
3.314
468 998
2 198
4,023
802,738
— 1.143
167.230
7,094
3,824
813,242
6542
191 186
14.073
2,358
480,231
16,965
194.926
18.386
1369
306,462
16.716
172.29
16,507
654
152 672
9,898
88.238
836
125 860
20 116
75,169
Size ot total assets
Under
SI. 000.000
157.427
5,964
41356
85.607
1628
23 124
16 603
53943
2 669 962
81853
922 383
81 382
3 229
385 736
n 727
96146
3 919
622 305
3.843
144.461
3,745
729,733
7.591
181.01
13 328
13 160
156,353
15 958
1.287
198,213
13754
133,636
15.616
122 398
7,463
73,941
100914
19,751
62 656
SI. 000.000
or more
2 268
149 537
83 262
-9.529
15,642
180 433
-4,986
22,769
83,509
-949
10,168
178,243
3805
38.573
82
108.249
2,962
38 655
33
30,274
2415
14,297
CI
CI
2 363
6,824
1 499 635
218338
276,939
109,830
466
207.723
21.040
35.63
13,468
565
359.966
71.28
75,687
30,675
725
205,706
29.903
36 260
12,312
306
147.909
36.023
49,166
18.145
Sl2e ol toial assets
CI
C)
2,174
6,148
569.699
78 282
43 941
57.310
425
137,423
9.883
1.926
162 222
31,945
15.004
133,659
8.398
12,879
65.320
17 160
28,709
676
930.136
140.056
232.998
52.520
50
197,744
39.336
60.683
14.845
25
72,047
21,505
23 381
Footnotes al end ol table See text for E«p!anation of Terms " and ' Descnplion of Ihe Sample and Limitations of Ihe Dala '
166
Corporation Returns/ 1974
RETURNS OF ACTIVE SMALL BUSINESS CORPORATIONS
Table 27.— Stockholders, Business Receipts, Net Income (Less Deficit), Distributions to Stockholders, and Net Worth, by Industrial
Division, Size of Total Assets, and Number of Stockholders— Continued
|AII ligufes are eslimales based on samples— money amounis are in ihousanOs ol dollarsl
Construction
Manufacturing
Transportation and public
utilities
Number of stockholders and item
Total
Sue of total assets
Total
Size of total assets
Total
Sue ol total assets
Under
$1,000,000
St.000,000
or more
Under
S1.000.000
$1,000,000
or more
Under
$1,000,000
$1.000 000
or more
(tO)
(Itl
(12)
1131
l»l
(151
1161
(17)
(HI
Total Returns of Active Small
Business Corporations
Number of returns
Number ol stocktiolders
Business receipts^
Net income (less detictl)
Net worth
Dislnbulions to stoctihoiders except m own slock
37.7?0
80.137
15.128,799
358,491
t. 333. 580
jot. 641
36,512
75638
10757.801
287,055
989.214
10,527
1.256
4.499
4.370 998
71.436
344.366
58.114
33.909
69.696
16 502 974
680,400
3 041.299
362.041
32 634
83.424
10.750.467
366 916
1.459 034
214400
1275
6274
5 752 507
313464
1 562 265
147641
14 531
35 669
4 248 154
89 604
403 400
80 422
14 297
34 878
3 563 234
54 132
265 028
59 051
234
991
684 920
35672
136372
21.371
Returns Witt) t Stockttolder
Number of returns
Business teceipts-
Net income (less delicilf
Net worth
Dislnbulions to stockholders e«cepl m own slock
14.567
4.056,950
53774
263,496
40,867
14.329
3,363900
48.651
226.069
35 162
258
693.050
5 123
57,427
5.725
9787
2824.079
33.120
733 153
45 442
9 656
1.964.232
24 012
153.667
31.365
129
859 847
9 108
579 286
14,077
4606
1069 734
7 329
57 734
12,750
4 557
955 106
5 168
30 668
8.681
C)
49
114 628
2.141
27.066
Returns ifVitti 2 Stockholders
Number ol returns
Business receipts'
Net income (less delicil)
Net worth
Dislnbulions to stockholders excepi m own stock
13,430
4891 217
118 238
413 188
54 133
13139
3,864,319
103.431
334434
42.193
291
1026,898
14.807
76 754
11.940
11.123
3.790.853
126.875
491.544
72.284
11,003
3,246.163
105.592
377 721
58.399
120
544670
23 283
113 823
13,685
4 999
1092510
-1 745
68 377
CI
4 958
1008.174
-5 185
43.639
CI
CI
41
84.336
3.440
24.736
Returns With 3 Slocltholders
Number ol returns
5,099
2,423,049
83,166
199.927
40,366
4,909
1 751.285
75,493
163159
30.499
190
671.764
7.693
36.766
9.867
4,654
2 533,695
132 934
433,113
53 335
4.458
1 751.194
93 790
297.767
30,822
196
782 501
39 144
135 346
22513
2215
652 494
18 043
44523
21,500
2193
617 294
19741
41.853
21 248
Business receipts'
Net income (less deficitj
Net worth
Distributions to stockholders except m own slock
Returns With 4 Stockholders
Number of returns
2,592
t 463,630
35,669
132,369
25452
2.421
911.038
27.053
86.089
16.523
171
552.592
8.616
44.260
8.929
4,026
2,565.650
85.687
363.802
53.663
3,651
1,664,495
46.027
229,385
36,594
175
701,355
39,660
134417
17,269
1362
519.031
17 624
77 754
14.054
1 330
424.241
10.916
60 852
CI
C)
32
Business receipts'
94 790
Net income (less deficit)
Nel worth
Oistribulions to stockholders ekcepi in own stock
6.708
16.902
Returns With 5 Stocliholders
Number ol returns
Business receipts'
Net income [less deficit)
Nel wonh
Distributions to stockholders except m own stock
919
752196
19496
83 783
13 082
813
299,318
10250
43552
CI
106
452.878
9.246
40.231
6678
1,656
1,490,875
73,823
277,102
35,693
1,432
686,615
44,472
173,021
22,293
224
604,260
29,351
104.081
13.400
292
256.408
9.878
37.508
(•)
C)
CI
CI
CI
C)
CI
CI
CI
C)
C)
Returns With 6 Stockholders
Number of returns
Business receipts'
Nel income (less deficil)
Nel worth
Oistribulions 10 stockholders except m own slock
482
513,371
1 7,844
91,840
CI
417
270,769
14.336
67,247
C)
65
242.602
3.506
24.593
CI
1,262
759,824
19536
151,972
20,074
1,188
382,773
-12,833
50,232
CI
74
377 051
32.369
101.740
13.469
463
210 127
9508
31606
CI
457
172 279
1.908
25 146
CI
(
(
(
(
(
Returns With 1 Stockholders
Number 01 returns
Business receipts'
Nel income (less delicil)
Nel worth
Dislnbulions 10 stockholders except in own slock
191
375.710
16,407
35,541
I')
(■)
(•)
(•)
C)
CI
49
259.302
5.568
11,293
C)
405
534,715
26,461
94.608
18.068
345
162,712
8,231
33,568
C)
60
372.003
18.230
61040
10822
(■)
CI
C)
C)
CI
CI
C)
C)
CI
CI
C)
C)
C)
C)
CI
Returns With S Stockholders
Number of returns
Business receipts'
Nel income (less deficit)
Nel worth
Distributions to stockholders except in own slock
149
238,944
3,350
31 592
(•>
(■)
(•)
C)
C)
C)
50
132.749
6.112
16.671
CI
391
655,675
73,341
216827
12,334
C)
C)
C)
C)
CI
143
527.113
62 844
169 765
10 436
234
160.245
9.327
24.230
CI
(■)
C)
(■)
(■)
C)
CI
CI
CI
CI
CI
Returns With 9 Stockholders
Number ol returns
Business receipts'
Nel income (less delicil)
Nel worth
Distributions to stockholders except in own slock
201
234,526
1639
28,701
CI
CI
CI
CI
C)
C)
38
168726
3.651
13.097
CI
266
455.904
38.090
132.978
14.931
CI
CI
C)
c>
C)
51
277.474
20 892
79 111
9.855
C)
CI
C)
C)
C)
C)
C)
C)
C)
C)
CI
CI
CI
CI
Returns With tO Stockholders
Number ol returns
Business receipts'
Nel income (less delicil)
Nel wonh
Distfibutions 10 stockholders except m own stock
120
1 79,206
8,886
33143
CI
C)
C)
CI
CI
C)
40
150.437
7,112
19,252
C)
339
871,504
58.333
146.200
35.997
236
365,271
29,930
42,544
C)
103
506.233
38403
103 656
21,915
C)
C)
C)
C)
C)
C)
C)
C)
C)
CI
(
(
(
(
(
Footnotes al end of table See ie>l lor 'EKplanatton of Terms" and Description of the Sample and Limilations ol ihe Dala
Corporation Returns/ 1974
167
RETURNS OF ACTIVE SMALL BUSINESS CORPORATIONS
Table 27.— Stockholders, Business Receipts, Net Income (Less Deficit), Distributions to Stockholders, and Net Worth, by Industrial
Division, Size of Total Assets, and Number of Stockholders— Continued
[All figures are estimales based on samples-money amounts are m ihousands of doHarsI
Number of stochtrolders and item
Wholesale and relati trade
Sue 01 ti}ial assets
$1,000,000
or more
finance. Insurance, and
real estate-
Size of total assets
Size of total assets
Total Returns of Active Small
Business Corporations
Number ol returns
Number ol stockholders
Business receipts'
Net income lless deficit)
Net worth
Dislribulions to slocliholders except in own sloch
Returns ttflth t Stockhollter
Numt)er of returns
Business receipts'
Net income (less deticil)
Net worth
Distributions 10 slochholders e>cept in own slock
Returns Will) 3 Stocltholders
Number ol returns
Business receipts'
Net income lless delicil)
Net worth
Distributions to stockholders except in own slock
Relunti Win 3 Slockholders
Number ol returns
Business receipts'
Nei income (less deficit)
Net worth
Distributions to stockholders except m own slock
Returns With 4 Stochhotders
Number ol returns
Business receipts'
Net income (less delicit)
Net worth
Distnbulions 10 stockholders except in own slock
Returns With S Stockholders
Number ol returns
Business receipts'
Net income (less delicil)
Net worth
Distributions 10 stockholders except m own slock
Returns With 6 Stockholders
Number ol returns
Business receipts'
Net income (less delicil)
Net worth
Distnbulions 10 slockholders except
slock
Returns With 7 Stocftholders
Number ol returns
Business receipts'
Net income (less delicil)
Net worth
Distributions to slockholders except m own slock
Returns Willi B Stoclihofders
Number of returns
Business receipts' - ,
Net income (less deficit)
Net worth
DIstribulK^ns to slockholders except in own slock
Returns With 9 Stockholders
Number ol felurns
Business receipls'
Net income (less delicit)
Net worth
Distnbulions 10 stockholders except m own stock
Returns With 10 Stockholders
Number ol returns
Business receipts'
Net income (less deficit)
Net woMh
Distributions to slockholders except m own stock
117156
2B5260
65 577 016
1 712543
6 566 132
777 406
34,945
12120065
107 056
670.252
117682
44.026
19.924,869
432,674
1 938 092
203367
17 047
10 840,414
296,26
1 153-094
124.967
10916
6 927 023
274.426
698.940
116 505
3.564
4.576,372
187 576
509 953
57.661
2.450
2732.927
1 16 579
343.659
52159
1.412
2.201.419
91.221
261.567
27.064
1.080
1,688,625
69 990
195 500
30 335
766
1 206,076
65,222
157,411
28,041
952
1 357,206
69 336
239 444
19607
114,656
276,025
51.349,254
1,269510
5 211868
603 633
34,646
10.213,790
64,977
711 010
91,286
43,49
17,301,555
376.60
1 658.933
179 1
16.689
8911 523
250.306
989309
100.724
10 625
6691 164
209754
717,859
) 118
3.278
2,761,371
111 183
331,775
34.420
2.303
1816.621
91.531
252.147
40 001
1306
1,305,992
55914
192,595
16,071
1,008
1,016619
146,136
22 252
684
724,607
47,351
97 713
21 ,209
604 012
32 079
114.391
2302
9,235
14,227 764
423033
1 376264
173775
299
1 906,295
42 079
159 242
26396
535
2,623,314
54273
279,159
24,249
358
1 926,691
45955
163.765
24.243
291
2 235.659
64 672
266
,817.001
76,393
178,178
23,24
914,306
27046
91 712
106
895427
35 307
86,992
10 993
72
672006
22 176
49,364
62
481,471
17,671
59,698
6,632
126
753,194
37 259
125 053
11 193
38,177
108,577
3,021 906
130,303
1 037 947
173 673
10879
844873
29.956
177 408
20 645
10.680
659.023
48,253
305,428
47 763
5,871
422565
29,600
127.349
36,642
4,230
274 771
3 774
118,594
16,097
2,675
254,468
1,821
131,825
1 441
138133
3537
57 550
11,609
807
58 425
707
24,682
391
117 386
14,694
38.274
27,562
-1,017
45.681
37.037
104,562
? 580,308
151910
861 990
148619
10714
796,024
43,191
190 696
19,052
10286
711 934
47083
184,597
40 909
6,710
362,797
29,391
104 065
36131
4 100
232 707
10 347
114 955
13.04
2616
235.833
7.409
128.324
1357
67,054
7 399
40413
765
49,540
5,334
13,466
72 177
5.399
26012
452
11.724
-3.701
34.776
1 140
4,015
441 600
-21 607
175,957
25254
48 849
-13,235
394
147 069
1,170
120.831
6854
59.788
209
23.284
130
42.064
-6.573
3.629
3056
18,635
-5,588
3,501
51,079
-3,862
17,137
8,885
-5.757
-3.071
45.209
9.495
12.262
15838
2.684
10905
71 381
168.242
11.328 922
266.542
1.180.981
310 429
24 922
2 674.639
-27,088
45,133
54 506
23,124
3,170153
11,223
2,047,475
36,737
203,394
41,483
6299
1265 165
24,955
167,524
32 901
204
603 967
47091
136,707
33.11
429.212
15.265
42.468
799
239.563
16.924
41.895
844
293997
16.851
54.664
9.301
193 856
5 961
31 305
459
410.875
22 547
41 711
26 666
70.406
164.724
9513.005
294,485
1,132983
267,362
24,722
2253.183
-16.417
22.917
2.746.007
113.430
402.330
59.076
11.047
1.771,772
46,123
206,373
37,303
6 134
1055 741
21,660
155,709
25,396
2,004
522,102
50,446
131
31,860
1.270
353,640
20,039
42,400
214,059
16461
36,607
229,985
19 290
46698
330
161619
4,931
28 437
204,697
16,522
31,636
975
3,518
1,815,917
-27,943
47,998
43,047
200
421,456
-10,671
-5,977
10,690
207
424,146
-5,251
11,850
9,299
176
275,703
-9,386
-2,979
165
209,444
3,295
11,815
7,505
43
81,665
-3.355
7,226
43
75,572
-4774
68
64,012
-2,439
7,966
CI
(•)
f)
(•)
(•)
5B
205,976
4 025
10 073
(■) Estimate is not shown separately because ol the small number ol sample returns on which it was based However, the data are included in the appropnate totals
Includes Nature 01 business not allocable which is not shown separately
' Size of total receipts was used in lieu ol business receipts to classily statistics for Finance insurance and real estate industries
NOTE See text lor Explanation of Terms and Description ol the Sample and Limitations of ftie Data
168
Corporation Returns/ 1974
RETURNS OF ACTIVE DOMESTIC CORPORATIONS
Table 28.— Number of Returns With and Without 50 Percent or More Ownership by Another Entity, and Balance Sheets and Income
Statements for Returns with 50 Percent or More Foreign Ownership, by Selected Industrial Divisions
_
[All .,g
ures are estimates based on samples-
money amounts ate in thousands ol
dollars]
Item
Total
active
domestic
corporation
Selected industrial division
Mining
Construc-
tion
Manufac-
turing
Transpor-
tation
and public
tWholesale
and retail
trade
Finance,
insurance,
and real
Services
returns'
utilities
estate
Number of active domestic corporation returns, total
(1|
12)
13)
|4|
|5|
161
17)
|8|
1
1.964.607
15,686
185.542
211.469
80.169
65 638
602.250
465 092
424.625
385337
388,595
317.214
2
Relurns omer man Forms 1120S and 1I20M
1,630,397
13323
147 772
177 560
3
Returns indrcalrng 50 percent or more ownership by anoltier
enltty total
1006610
7.310
99577
112.355
41236
325 113
202 900
195.098
4
With ownersliip by a domestic entity or ownership not iinown
999072
7.193
99.518
lit 173
40.923
322 618
201.066
194.503
5
With ownership by a loieign entity total
6.538
117
59
I 182
313
2 495
1 734
595
6
With ownership equal lo 50 percent
526
(*)
CI
190
C)
238
42
CI
7
With ownership more than 50 percent
6.0O8
116
54
1002
290
2253
1.692
559
e
With percent not determinable
(■)
-
C)
9
Returns indicating no 50 peicent oi more ownership by anolhei
entity
540 126
5.254
42.423
59.536
21.023
139451
159.734
100,689
10
Relurns wilh inlormation on 50 percent or more ownership
not determinable
84,661
759
5772
6669
3379
20 526
23,803
21427
Returns Indicating 50 Percent or More Ownership by a
Foreign Entity
It
Number ol returns, total
6,S3>
117
59
1.182
313
2,495
1.734
595
12
Wilh net Income
3.0B5
43
32
629
54
1,390
474
460
13
Total assets
76.697.180
1.252.186
275.657
33.885,423
1.879.164
20.420.032
17.777.117
1.003.273
14
Cash
3.997,125
44 395
17,741
775,144
39378
1493310
1.566.057
59.091
15
Notes and accounts receivable
19.096,547
162 362
72719
6325725
197 822
7 505,394
4624 099
201923
16
Less Allowance loi bad debts
332,187
fl
C)
172 445
1,735
91 504
57493
3 403
17
Inventories
13769575
100 022
45223
6.999 664
57.058
6,442,995
20,071
81.372
Investment in Government obligations
IB
United States
1,252,954
C)
CI
9695
1,176,297
CI
19
State and local
1326725
-
-
CI
CI
1,305 608
I'l
20
Othei cunent assets
4 474 786
35 175
27 376
2029615
41 230
1,328 511
909 998
65 467
21
Loans to stocliholders
215 132
CI
CI
90 407
—
65 427
55 481
CI
22
Mortgage and real estate loans
943.656
CI
C)
16.846
CI
4 109
916.611
CI
23
Other investments
10.048,059
193154
CI
4 048 352
•40 518
1215,721
4345091
137.256
24
Depieciable assets
23875,727
601.328
41 084
17.038 404
1846 991
2023,656
1.750.170
530.210
25
Less Accumulated depiecialion
8.794.096
243.994
11086
6.977 569
449,017
630077
290.572
177.259
26
Depletable assets
2978.858
283.347
-
2.624.242
_
C)
C)
_
27
Less Accumulated depletion
1 306.690
46 638
1.253.534
C)
ri
28
Land
1,631.277
60 350
47,572
797.146
C)
199,890
433.445
47033
29
Intangible assets (amortizable)
565.586
10484
CI
395 009
C)
60 422
64 362
30494
30
Less Accumulated amortization
106 129
2,453
CI
60.075
CI
14.106
11.231
17 637
31
Other assets
3.060 175
69 083
14.081
1.201,676
34.905
731.917
967 928
39.338
32
Total liabilities
76.697.180
1.252.186
275,657
33.885,423
1.879,164
20.420.032
17.777,117
1.003.273
33
Accounts payable
10052 804
103 982
61993
4 538 603
122.310
4.403 337
624396
189 924
34
Mortgages notes, and bonds payable in less than one year
13210973
82 404
82,553
3.068.397
173.200
8,781258
779.930
190 945
35
Other current liabilities
12 397,347
79 085
32945
2.311.088
121.737
1 382 996
8 368.922
69.418
36
Loans Irom stockholders
1912 390
185,981
I'l
1.075.345
C)
323947
256.050
41 217
37
Mortgages notes, and bonds payable in one year or more
12 122 681
257 779
43,967
6.696.076
661.953
1931470
2148.217
315.809
38
Other liabilities
5106 038
114,115
31 310
1612,230
110,255
621 113
2.567,797
39,520
39
Capital slock
4603 105
64 387
10.491
2 231,430
203,196
1 455,399
759 650
61,603
40
Paid-in or capital surplus
8,217,555
256,062
CI
4,747 583
578,551
1 116301
1,357 619
133.143
41
Retained earnings, appropriated
489 399
CI
C)
296441
CI
110 422
61.952
_
42
Retained earnings, unappiopiiated
8543702
106.591
-11 363
7.403.873
-124.825
343 171
862.036
-34 420
43
Less Cosi of treasury stock
158,914
-
CI
95 643
CI
49,372
11.342
CI
44
Total receipts
100.363.437
798.779
297.022
39.894.457
1,154.771
54.008.843
3,537,318
SC9.265
45
Business receipts
96 903 205
764.501
275,655
38 925 549
1.122.552
52,626 332
2 469 589
520 737
InteiesI on Government obligations
46
United states
74 420
CI
C)
2918
C)
2,865
67315
CI
47
48 317
—
—
955
—
CI
46 753
CI
48
Other interest
1 664 520
9.370
3,099
262459
16 632
735642
630 023
7 177
49
Renis
297933
2.660
1,569
150418
5,383
36 096
87919
13,452
50
Royalties
222 380
CI
C)
196.366
CI
9,651
13,706
CI
51
Net short-term capital gam reduced by net long-term capital
loss
7001
C)
CI
962
CI
52
Net long-leim capital gam reduced by net short-term capital
92,961
4.920
C)
33.014
C)
13,723
32,009
7.014
53
Net gain, noncapital assets
81018
4,245
CI
15 594
433
8.689
50,209
CI
54
Dividends received Irom domestic corporations
190,755
CI
CI
53.230
C)
58817
73,252
CI
55
Dividends received Irom loreign corporations
32 595
—
C)
20.018
CI
4611
3.554
CI
56
Other receipts
748332
10,771
9910
330,453
6,903
310 698
62.129
16.706
Footnolesat entJol lable See le^l lor Eiplanal'on ot Terms' and Descnplion of the Sample and Limitalions ot the Data
Corporation Returns/ 1974
169
RETURNS OF ACTIVE DOMESTIC CORPORATIONS
Table 28.— Number of Returns With and Without 50 Percent or More Ownership by Another Entity, and Balance Sheets and Income
Statements for Returns with 50 Percent or More Foreign Ownership, by Selected Industrial Divisions— Continued
_
jAII ligures are eslimales based on samples-
-money amounis are in thousands ol
dollars]
Item
Total
active
domestic
corporation
Selected Industrial division
Mining
Construc-
tion
Manutac.
luring
Transpor-
tatiofi
and public
nmolesale
and retail
trade
Finance.
Insurance.
and real
Services
relurns
ulilitie*
estate
Relurns Indicating M Pefceni of Mofe Ownefshio by a
in
121
131
(41
(51
(6)
|7|
|8|
Foreign entity— Continued
57
Total deductiona ......v.
98.276.205
78 821 542
769.117
407.010
285.131
252 464
38.096.035
27 263 475
t.121.375
731 756
53.629,081
46 254 097
3.487.253
1 576091
S74.845
257 088
58
Cosl oi sales and opefalions
S9
Compensation ol olticefs
379 051
3719
2118
141 040
10685
145 266
61 262
14 476
60
Repa«
725 491
20.936
690
618684
Cl
60 682
17910
5948
61
Bat) deots
229 600
I'l
CI
109137
3884
73 464
32.606
8.136
62
Rent paid on twsiness ofopertv
786423
6.285
2604
441.316
46 989
219641
52705
15.626
63
Ta«es paid
1.795.332
18063
2.875
1.225074
65 679
337 323
126 310
16.472
64
tnletesi paid
2 829 474
30 411
10 275
865 216
66,635
1269 365
534 631
46.172
65
Contntwiions Of gills
14 403
n
C)
10 777
151
1801
517
107
66
Amofliialion
16 282
113
CI
9009
Cl
3829
930
399
67
Oepfecialion
1,540 784
50 993
3 441
1 064 467
70962
162 723
114.158
49,857
66
Depletion
423 103
34.016
-
363.036
Cl
5.988
Cl
69
Adveflising
1 260 935
11,394
844
821426
5.367
395378
12.056
14 469
70
Pension, pfOliI-shanng, stock bonus and annuity plans
404.031
9 052
CI
332 914
4410
43260
11 169
2.248
71
Employee benetit pfogiams
240928
3.857
CI
150047
2867
59 532
19 720
4.735
72
Net loss noncapital assets
20407
n
CI
9681
Cl
4 152
4 705
635
73
Otne* deduciHDns
8.768.419
171.275
18.034
4.630,536
108.227
2.792 560
922,226
136477
74
Total leceipis less total deductions
2 087 232
29 662
1891
1 798 422
33 3%
179.762
50 065
-5.560
75
Constnjctive laiable income Ifom lelated lofeign cofpoialions
23 757
—
CI
15 759
_
Cl
Cl
76
Net income (less delicil) (line 74 plus 75 minus 47|
2 062 672
29662
4 895
1813226
33.3%
180 954
6.512
-5.587
77
Net income
3 050 922
89.817
15.529
2064 563
67 453
616634
159 781
27 363
76
Delicil
988 250
60 155
10.634
251 337
34.057
435660
153.269
32.950
79
Income subiect to ia»
2 676 436
74.175
CI
1848 596
57 145
552 448
103.727
16.915
80
Income (ax (o(al
1 282.035
36 756
CI
892,010
27 024
259 753
48 472
8331
81
Nofmat (ai suf(a» and allemalrve I3»
1 266.743
34 949
CI
880.023
26 985
258.711
48 108
8.260
82
Ta« trom recomputing ptiof year inveslment ciedil
3895
1*1
CI
3 106
Cl
651
15
Cl
83
CI
—
—
Cl
—
Cl
64
Additional ia» for ta» preterences
11.379
I'l
-
CI
-
Cl
Cl
Cl
85
=Ofe^n ta« credit
49214
n
CI
20.567
Cl
12.090
9718
(*l
86
nweslmenl cedit
90,433
1.433
CI
71653
6.666
6.608
932
780
87
Wofh incentwe (WIN) credit
>slnbut<)n 10 stockholdeis
107
n
-
98
Cl
88
Casti and property e«cepl own stock
671,345
CI
CI
472107
Cl
56.130
78.664
Cl
89
Corporations own slock
ncludable income ol Conlrotled Foreign CorporalNDns
51 484
-
-
Cl
Cl
38.156
Cl
90
Number ol relurns
11
—
—
Cl
_
Cl
Cl
_
91
Amount
Western Hemisphere Trade Corporation oeducton
7 160
—
-
Cl
-
Cl
Cl
-
92
Number ol returns
13
CI
Cl
Cl
93
Amount
Foreign lax aedil
4.458
CI
-
Cl
-
-
Cl
-
94
Number 01 relurns
335
5
n
159
Cl
131
32
Cl
95
Amount-
49214
2643
Cl
20 567
Cl
12 090
9718
Cl
(■) Eslimalets not shown separalely because of ttie small number ol sample- rolurnson whiclil was based However Ihe tJala are included in (he appropriate totals
' Includes Agriculture lorestry and lishing and Nature ol business not allocable which are not shown separately
NOTE See text for EKplanationo* Terms ami Descnpiiori of the Sample and Limitations oi the Data
170
Corporation Returns/ 1974
RETURNS OF ACTIVE FOREIGN CORPORATIONS WITH U. S. BUSINESS OPERATIONS, FORM 1120F
Table 29.— Income Statement and Tax Items, by Industrial Division
[Money amounis are in Ihousands ol dollars]
Total
Induslri3
Division
returns of
Item
active
foreign
corporations
Agriculture,
forestry, and
Mining
Construe-
lion
Manufac-
turing
Transportation
and public
Wholesale
and retail
Finance.
insurance.
and real
estate
Services
with U S
fishing
utilities
trade
business
operations'
(1)
(2)
131
|4|
|5|
161
17)
181
(9)
Number ol returns ol aclrve loreign corporations wiin U S
business opeolions. lolal
1 267
18
«
!■:
94
63
173
624
237
Wilh nel income
539
6
'^
6
4r
25
77
243
120
Total receipts ..•.•.•.•■••••. •■■■.i* -
6,377.793
3 490 767
1,314
386
34 647
37,185
35.747
477.925
459 762
250.676
194 96?
1.021.922
1 014 171
4.195.661
1 434 937
326.471
Business receipts
314,694
InteresI on Government obligalions
Uniied States
153.351
—
—
—
35
\2
1
153.303
II
Stale and local
9 50?
—
—
—
—
—
224
9.278
Olher mleresl
2 406,399
(■')
53
199
1323
3 125
1.493
2 401.603
340
Rents
61,087
_
3
522
181
25 302
320
34,055
704
Hoyallies
4 096
-
539
-
24
-
6
2980
547
Net snofl-term capital gam reduced by nel long-term
capital loss
85
—
4
—
—
—
—
19
62
Net long-letm capilal gam reduced by net shon-lerm
capital loss
5 301
928
48
9
3.847
469
Net gam, noncapilal assets
8,903
—
75
—
14
842
39
7.685
248
Dividends received Irom domeslic corporations
73,625
-
20.237
—
11.280
6906
1 518
33.682
l-l
Dividends received Irom loreign corporalions
4,530
—
8
—
313
—
—
4209
—
Olher receipts
158,147
928
8,460
717
4 945
19 524
4 041
110063
9407
Total deductions
6.376.570
1.879
51,404
41,896
435,120
270.649
1,028,019
4.2U.764
331.367
Cost ol sales and operations
2,674,136
246
22 398
31950
347.913
149 636
913,793
936,078
270.858
Compensation ol olficers
26,624
—
1,366
207
2,343
178
3 931
17,121
1.477
Repairs
9,839
9
1,349
999
1,299
415
531
3.266
1966
Bad debts
78.702
_
179
I
415
421
598
76,843
244
Rent paid on business p'operty
66 147
-
2,140
258
2219
35 311
24,001
18,130
4.063
Taxes paid
104 292
39t
1,054
221
7.633
5.449
10.203
76.084
3255
InteresI paid
2 1765)4
221
2.291
493
9.697
20 468
7.664
2.130,905
4.736
Contnbutions or gills
577
—
2
—
76
14
211
218
56
Amortization
2 624
1
810
1
108
53
63
526
1.062
Depfeoalion
44 566
70
2,004
2,286
7.973
3,655
2.244
17,893
8.421
Depletion
Advertising
6,445
95
4,602
_
20
_
_
1.726
1')
9.573
—
45
41
2.680
420
1.628
3,726
831
Pension. proM-shanng, stock bonus, and
annuity plans
7,426
_
783
68
2.136
121
318
2.313
1.687
Employee benelit piogtams
0,489
t
20
32
2.487
655
700
3.664
920
Nel loss, noncapital assets
2 940
__
3
21
134
1-1
5
2.748
25
Other deductions
1,137 676
843
12.358
5.318
47.787
53,853
62109
923.521
31.746
Total (eceipts less total deductions
1,223
-565
13.550
-4,711
42.805
-19973
-6.197
-19,103
-4.896
Net income (less delicil)
-8,279
-565
13.550
-4,711
42 805
-19973
-6.421
-28.381
-4 896
Nel income
269,029
301
22 272
827
51 652
16.540
35.360
131.956
9779
Delicit
277 308
B66
8.722
5.538
8 847
36.513
41,781
160.337
14.675
Income subiecl to tax
195,293
301
3.057
103
35.263
6,101
32,071
109.018
9.068
U S income la«, total
93 355
121
1.459
53
16.765
2,858
15.075
52.809
4.087
Additional ta> lOf lax preferences
1,310
-
-
-
-
-
—
1.310
-
Foreion lax cedit
3,114
1,752
=
36
=
984
70
5
69
2,697
318
212
Investment credii - - - -
275
DiStnbulions to stockholders
Cash and properly except own slock
6,310
21
25
—
265
97
5.367
997
1.538
Corporations own slock
125
125
'Includes ' Nalure ot business not allocable" which is not stiown separately
'Less than S500 per return
NOTE Returns ol active foreign corporations with U S business operations are sampled al a rale ol 100 percent and thus are not subject to sampling variability See text loi Explanation ol Terms and Description ol the Sample
and Limitations of trie Data
Corporation Returns/ 1974
171
Returns of Active Domestic International Sales Corporations, Form 1120-OlSC
Table 30.— Balance Stieets and Income Statements, as Shown on Form 1120-DISC
[AN figures are
eslimafes based on
samples— money amounts are m ihousands of i3olla's|
Item
Number of
returns
Amount
Hem
Number of
returns
Amount
Number 0) lelums
Tolal
5 498
-
Total receipts— Continued
With nel income
5.075
~
Total qualified export receipts and nonqualified
receipls-Contmued
Tolal assets
5.421
9.406.527
Nonqualihed receipts— Continued
Sales to related DiSCs
Ouahlied assets total
5.426
5.242
158
9,387.600
370.322
39.351
5
458
Working capital
Nonqualilied dividends
IB
Funds awaiting <nvestmeni
Other nonqualified receipis
33 600
E<pori-tmpOfl Bank ottligalions
274
466.390
Trade receivables |net|
4.558
6.226.287
Adjuslmenis to receipis
Interest on State and local Government
Export pfoperly
863
632.387
obhgatHjns
8
2086
Pioducet s loans
1,021
925.600
Net loss, noncapital assels
13
9
lr>vesifnenls m related foreign export
Less Includable income of Conlrolted
corporations
57
5.266
Foreign Corporations
6
7 193
Depreciable assels (net)
710
76.6J3
Oihet assets (nelj
2.590
703
645.553
18.728
Total de<luction»
4.90S
19,392,031
Nonqualil«d assets (nelt
Cosl of sales and operations
3 029
18,140 589
Totat tiabllllies
5.428
9.406.527
Export promotion expenses loial
Market studies
3,277
79
666,341
7 784
Accounts payable
2.852
1,587.656
Olher cu'teni liabilit.es
2.364
453.423
Advertising
1049
51.186
Mortgages notes and bonds payable >r\ one
Depreciation
669
3 125
year or more
278
69,975
Saianes and wages
938
101,676
Oinet hab'i'lies
1126
193.289
Capital slock
5.373
49.931
Rents
830
11.381
Paid-in or capital surplus
252
88.872
Sales commissions
Warehousing
1.584
198
212 801
14.596
Other earnings and profits
610
14,478
Ffeight (excluding insurance)
822
72.168
Previously laied income
3.174
2,069 137
Compensation of olficers
508
25,731
Accumulated DiSC .ncome
5.191
4 880 984
Repairs
305
1,667
Less Cost ol treasury Stock
46
1,219
Amort nation
1 215
457
Pension, profit-sharing, stock bonus.
Total reeetpls
5^1
24.157.733
and annuity plans
184
284
4,826
4,412
Employee ber>elil programs
Total qualified CKpon receipts and
Other export pfomoiKKi expenses
1946
154.327
nonqualilied receipts
5.301
24,162,830
Other expenses total
4 469
575.092
Ouahlied export receipts loiai
5.291
24.095,618
Bad debts
564
28.403
QuaMied eiport receipts ttom
Taxes
3,546
34.538
sates o( export properly
5.183
23.688,294
inleresl
ContnDutions
1,095
165
20.970
517
Other qualified eipofi receipts, total
2.014
407,324
Freight
927
264,881
Leasing of e«Dort properly
63
41,165
Freight insurance
213
9142
Services related to qualified export
Olhei expenses
2 947
216661
sale Of lease
195
87 481
Net loss noncapital assels
13
9
Engineering and archileclural services
89
66.006
Tolal receipts less total deductions
5,446
4,775.702
EipOf) managemeni senflces
47
2,470
Nei income (less defiof)
5,446
4.780.809
Qualified dividends
16
7.247
Net income
5 075
4.783.758
inteiesi on producers loans
696
36,518
Delicil
371
2.949
Other interest
1.222
165,159
Net capital gams
10
32
Statutory special deductions, total
127
861
Net gam (less nei loss! noncapital assets
34
1,247
Net operating loss deduction
OrvHJends received deduciion
122
5
957
4
Nonqualified receipts, total
701
67.213
Tax deferred income and income taxable to
Ultimate use m US
296
30.660
siockhoiders
5,056
4.783.354
Eipons subsidized by U S Government
11
1.634
Total amount deemed distributed
5043
2 416.475
Cenain sales or leases lor use by
U S Government
^■
: 300
Tolai amount actually diSlnbuled
2 608
1 526 830
NOTE Detail rnay not add to totals t>ecause ol roundmy
There is a slight disparity between the arr^ounls shown m this table and those shown m labie 31
See the explanation under Domestic lr>ierna(ionai Sales Corporalion Returns ' m the Explanation of Terms section Reler also to me ' Oescnplion of me Sample and Limitations ol the Oat»
172
Corporation Returns/ 1974
RETURNS OF ACTIVE DOMESTIC INTERNATIONAL SALES CORPORATIONS, FORM 112C-DISC
Table 31.— Balance Sheets and Income Statements, by Selected Industries
|AII
figures are estimates based on sa
nples— money amounts are in thous
.ands ot dollars)
Tolal
Wholesale and retail trade
Total
wholesale
and retail
trade
Wholesale trade
Item
active
DISC
returns'
Total
xvhotesate
trade'
Groceries
and related
products
Uachinery,
equipment,
and supplies
Molor
vehicles and
automotive
Lumber and
construction
materials
Metals and
minerals,
except
petroleum
and scrap
Electrical
goods
Hardware.
Mid healing
equipment
HI
121
(31
(41
(SI
(61
|7|
(81
(9)
(101
Numbef ot relurns
Tolal
5 498
5075
9,406,510
5335
4953
9.253.275
5275
4 898
9.240.682
237
205
151,354
1 422
1362
2.458,241
139
133
756,939
180
159
129.806
232
215
485,965
668
616
766,060
189
With nel income
184
Tolal assels
69,209
Cash
409 322
400836
400 252
28 557
76.495
13 084
10.018
50,342
23 095
It 241
Notes and accounts recetvabte net
6226.340
6.163 628
6154 917
88 166
1582.521
599 988
81942
293 163
573 044
37 247
Invenlones
632,373
630 811
630 074
11067
303 323
25,652
8 953
49 423
32.177
1 594
Olfief investments
1 397 269
1 321 933
1 320 778
16 455
277.489
76,659
25 286
59,861
98.255
10441
Depreciable assets
85 693
65.545
85.410
287
4.616
826
508
568
1.499
CI
Less Accumulated depreciation
9,043
6 979
8964
41
1 747
395
199
211
214
39
Other assets
664 557
659.501
658.2f,
6 863
215.544
41 125
3298
32,819
38.204
9.600
Tolal Itabllilles
9.406.510
1,586.659
9.253.275
1.581.125
9.240.682
1 579.674
151,354
26.220
2,458,241
439 869
756.939
196 257
129.806
11390
485.965
107005
766.060
113.954
69,209
13.973
Accounts payabte
Olhei current liabilities
453 104
449 537
447803
9 082
129.755
22 310
7 211
23.569
29.981
6.240
Mortgages notes and bonds payable m one year
or more
69 974
69.845
69 393
CI
12562
CI
CI
CI
2.067
CI
Other liabilities
192 468
189.658
189 524
4 842
33.778
29 235
4.391
6.950
12.857
1800
Capital stock
51 976
51.402
51.148
3827
1 1 .252
CI
782
1.320
2.800
806
Paid-in or caprlal assets
68 901
24 754
24 727
CI
2910
4607
CI
CI
5.248
247
Relained earnings unappropriated
6 964 644
6888148
6 879 605
106 194
1828 810
499 567
104.123
344 069
599 156
45326
Less Cost ol treasury slock
1 216
1 194
1.192
C)
CI
CI
CI
Tolal receipts
24,158.494
24.041.467
24,007,910
917,291
4.673,053
1,140,480
469,673
1,698,892
1,083,973
1058.942
199,076
197 694
Business receipts
23 885 423
23.776.346
23742.895
912 667
4.613 157
1.120,202
463,337
1,684 268
Interest on Slate and local Government
obligations
CI
CI
CI
—
CI
—
—
—
—
_
Other interest
201.658
193 764
193 667
1.430
52.005
18 187
2289
7 085
20.387
1.005
Net short-term capital gam reduced by net
long-term capital loss
2
2
2
-
—
-
—
-
—
—
short-lerm capital loss
n
CI
CI
-
-
-
-
-
Net gam. noncapital assets
1 254
1247
124 7
_
CI
CI
_
_
CI
_
Dividends, domestic corporations
I'l
CI
CI
—
CI
—
CI
—
—
—
Dividends foreign corporations
n
CI
CI
—
—
—
—
—
—
—
Other receipts
68.033
67,996
67.987
3.194
7.869
2.042
4.047
7.539
4 371
377
Total deductions
19,382.766
18 155 172
19.312.324
18.117960
19,284,596
18093.888
•37,916
796.890
3,468.905
3.187.681
843.628
788 025
384,292
358.257
1.364,573
1241209
724,791
646572
156,335
Cost ol sates and operations
140 566
Compensation ot olticers
25 752
25.436
25.209
507
4.422
CI
CI
1966
1,129
CI
Repairs
1 655
1.651
1.649
CI
371
CI
CI
CI
264
CI
Bad debts
26.384
28.371
26 361
CI
1.476
CI
476
CI
765
258
Rem paid on business p«opefty
11377
iy2'2
11.173
371
3.129
661
335
2236
1.395
199
Ta es Dad
34 388
20.939
508
34.214
20 580
508
34 118
20.540
506
1 484
864
CI
7.887
4.619
24
2.282
446
CI
1.029
952
CI
4 540
497
CI
1800
1.806
CI
644
Interest paid
456
Contnbulions or gilts
CI
AmodizalKjn
346
328
325
8
98
CI
5
18
7
CI
3.099
2.963
2.930
CI
908
97
92
57
192
CI
Advertising
51,141
51.088
51,056
1.539
28.878
1 065
309
91
5.762
262
Pension, protit— sharing stock bonus and
annuily plans
4630
4.789
4.789
CI
1.489
CI
CI
CI
CI
CI
Employee benetil programs
4,416
4413
4.407
CI
1.363
CI
CI
CI
550
CI
Net loss noncapital assets
CI
CI
CI
—
CI
—
CI
CI
CI
—
Other deductions
1040 750
1.008.802
I 005 634
36.031
226.557
48,710
21.899
112,958
64.236
12,924
Tolal receipts less total deduclioos
4 775 728
4 729.143
4 723.314
79.375
1.204 148
296,852
85.381
334,319
359.182
42.741
Includable income ol Controlled Foreign
Cwporations
CI
CI
CI
—
—
CI
—
CI
CI
Nel income lless deticit)
47B0 833
4 734 248
4,728.419
79.375
1 204 144
297,230
85,381
334,319
360.383
42.956
Net income
4 783 767
4.737 046
4.731 209
79.555
1.205.160
297,248
85417
334,383
360.640
42965
Oeticil
2934
2798
2.790
CI
1.016
18
CI
CI
257
CI
Stalutory special deductions total
846
844
802
CI
337
-
CI
CI
CI
CI
Net operating loss deduction
842
842
800
CI
335
—
CI
CI
CI
CI
Dividends received deduction
CI
C)
CI
-
CI
-
CI
-
-
-
Tax deleiied income and income taxable to
slockhoWers
4 783 370
4.736.651
4 730 856
79 545
1.205 021
297,248
85,375
334,381
360 633
42 896
Credit loi tax on special (uels nonhighvxav
gasoline and iubiH:aiin9 en
Distributions to stockholders in cash
1 526 848
1.511.948
1,509.935
24 67C
354 798
129,227
161.304
75713
80.871
10.683
Oualitied export receipts
24,095,618
23.978.628
23,945080
914 too
4,665 193
1.138,818
465.630
1.691.344
1080.795
198 900
Tolal deemed distributions
2,416.475
2.392.626
2,389.711
40.002
610,530
151.393
43.01 1
167.107
183.581
21,667
Items unique lo Form ItriO-OtSC, Schedule N
(Geographic Source ol Gross Receipts)
Gross export receipts ot DISC
66 276 665
65 898 1-13
65.791.526
1.635.704
14960120
7756 180
1 356,681
3.431.016
3.930.945
414.144
Gross export receipts ot DISC and related U S
persons
71253.136
70.74785/
70.588 989
1.611.602
16,483,127
8 535.145
1 339,696
3.750,366
4.274.837
364411
Footnotes at end ol table See irnt lor Explanation o( Tefms' and 'Description ol the Sample and Lin^itaiions cl the Data
Corporation Returns/ 1974
173
RETURNS OF ACTIVE DOMESTIC
Table 31
INTERNATIONAL SALES CORPORATIONS, FORM 1120-DISC
.—Balance Sheets and Income Statements, by Selected Industries— Continued
jAII ligjfes are eslimales based on samples— money amounis are m ihousands ol dollars)
Numbe( ol returns
Total
With net income
Total aaaeta
Cash
Notes and accounts receivable net
Inventories
Otnef investments
Depreciable assets
Less Accumulated depreciation
Other assets
Totat llabltltles
Accounts payable
Othe' current liabilities
Mortgages notes and bonds payable ii
Other liabilities
Capilal slock
Paid-in or capital assets
Retained earnings, unappiopriated
Less Cost ol treasury stoclr
one year o^ moie
Total receipts
Business receipts
Interest on Slate and local Government obligations
Other interest
Net short-letm capital gam leduced by net long term
capital loss
Net long-term capilat gam reduced by nel short term
capital loss
Net gam noncapital assets
Dividends domestic corlJOrations
Dividends toreign corporations
Other receipts , .
Total deductions
Cost ol sales ano operations
Compensation ol otticers
Repairs
Bad debts
Rent patd on business property
Taxes paK]
Interest paid
C^ntnbutKtns or gilts
Amortisation
Depreciation
Advertising
Pension piolit-shanng. stock bonus, and annuity plans
Employee benelit programs
Net toss, noncapital assets
Other deductons
Total receipts less total deductions
Includable income ol Controlled Foreign Corporations
Nel income (less deliciil
Net income
Oetiat
Statutofy spec^t deductions, total
Net operating toss deduction
DivHtends received deduction
Ta» detened income and income taxable to stockholders
Credit tor tax on speoal luels. nonhighway gasoline and
lubricating oil
Distributions to slockholdeis m cash
Items unique to Fonn 1120-DISC:
Oualitied export receipts
Total deemed distnbutions
Items unique to Foim 1120. DISC Schedule N iGeographic
Souice ot Gioss ReceiptsI
Gross expon receipts of DISC
Gross export receipts ot DISC and lelated US persons
Wholesale and letail trade — Continued
Wholesale trade— Continued
Other
durable
goods
•1J252
706.884
25 993
171612
2-394
931
46 423
994.727
166.305
52 764
31425
11.711
4 574
400
727 726
2240.695
f)
19.196
15 787
1.629.253
1 708 726
5 543
319
1545
Paper and
paper
products
4 450
t 712
25
731
495
200
104 164
448 522
446.445
446 976
2.259 974
226.024
4 769.441
5 860 727
Drugs
chemicals,
and allied
products
|13|
6 186
36 604
fl
n
38.036
238.059
174,692
590.S88
584.159
5,491
376 131
CI
fl
(-1
32 0B4
180 369
180 369
180 470
n
180.470
59 722
589.654
89.198
1 486.673
1 634 574
1.815.37$
74.543
1 152579
62 397
401 441
1.200
312
123.528
1.815.376
210850
30,840
n
38,599
2.130
CI
1.527.740
3,157.509
3.110.149
37.536
8.945
2.110.676
1.889.567
7 155
Apparel,
piece
gooids. and
notions
3,675
1.476
149
5.028
896
1.135
CI
197.416
1.046.833
CI
1 052 231
1.052.282
CI
CI
CI
1052.281
249 375
3,153.977
532.481
6.399.323
6 885.582
1141
203
97,189
8085
68.116
15 295
4524
1.064
97.189
33 356
9515
CI
3.25
1.013
CI
50.021
CI
281.632
281 1
219953
729
19 230
40.064
40.064
40.120
Farm-
product
raw
materials
1151
599.433
20711
284.237
70.355
82.081
71.541
4.694
75 202
599,433
16.397
CI
423616
3,754.632
3733395
13.91
7.29
3,471,051
3423,690
CI
2,465
6,161
CI
283,581
284,028
3.747 321
142.833
CI Estimate is not stiown sepaiatety because ot the small number ot sample returns on which it was based However the data are included in the appropnale totals
'IrKludes industries which are not shown separately
'Less than S500 per return
NOTE See texl tor Explanation ol Terms and Descnption ot the Sample and Limitations ol ihe Dala
Petroleum
and
petroleum
products
1 16)
34
134.875
7 367
92 147
394
19549
3
15415
134.875
5 521
II
CI
2.155
125.733
272.723
271 11
CI
12.389
93.935
93.935
93.935
CI
272676
47470
887 099
892 032
Total
retail
trade
Total
services '
532
7.694
C)
CI
CI
|-|
89
lO.i
1450
CI
CI
CI
212
6.785
CI
30.673
30598
22.767
CI
3.020
4,491
4.491
4 493
CI
CI
CI
30.664
2.242
84 506
139 852
123
97
8.429
41.818
CI
6.078
CI
CI
4.938
62.909
5.222
3.563
CI
2.818
461
CI
50.741
CI
110.235
108 503
1.662
CI
CI
37.122
CI
CI
CI
129
162
359
31.349
40.530
40.530
40.666
Business
services.
except
advertising
(191
8.676
640
3.929
CI
|-|
CI
CI
3.062
6.876
CI
CI
CI
154
CI
6.110
11,441
11.327
CI
CI
CI
CI
CI
6.125
CI
CI
CI
CI
CI
1.008
5.316
5,316
5,322
CI
CI
CI
CI
11.427
2.667
44.917
43 295
174
Corporation Returns/ 1974
CONSOLIDATED RETURNS
Table 32.— Balance Sheets and Income Statements, by Size of Total Assets
[All hgures are estimates based on samples— money a.nounts are in mousanOs ol dollafS|
Item
Total
consolidated
returns
Size of total assets
Zero
assets
SI under
5100,000
5100,000
under
5250,000
5250,000
under
5500,000
5500,000
under
51,000,000
Number of consolidated returns lolal
(1)
(2)
(3)
(4)
(51
(61
1
34,678
443
1731
1 94B
3.437
2.192
5,327
1,251,675
4.969
3,469
8,613
3,592,973
297.159
2
With net Income
23!o69
316
619
i!2oa
2,424
334,926
45,625
3
Number ol subsidiaries
141.864
1.415
2,772
4
Total assets
2,415,237.420
S4.970
5
Cash
191,088,374
10228
140270
6
Notes and accounis receivable
713.378 720
—
21 703
70,432
293962
855,127
7
Less Allowance lor bad debis
16,831 803
—
CI
CI
5,2%
21.985
8
Invenlories
Investments in Governmenl obligaiions
173,295.071
-
CI
50 080
206,070
664.656
9
United Slates
67 861.497
_
—
_
I'l
17.699
10
State and local
75,564,950
-
CI
-
1')
CI
11
Other current assets
83,405,658
_
8.939
24,471
62 463
167 534
12
Loans 10 stockholders
2,490,608
-
CI
CI
13.429
24,911
13
Mortgage and real estate loans
167,824,224
—
CI
|-|
CI
15981
U
Olher investments
284.034,636
—
CI
33,310
136,272
294.835
15
Depreciable assets
813.689,040
—
61.186
170 964
530.619
1.756,717
16
Less Accumulated deprecaiton
296.976.162
-
38 615
95,310
264,879
882,881
17
Oeplelable assets
32.828.561
-
_
CI
CI
18
Less Accumulalec) deplelion
12.337.349
—
—
—
C!
CI
19
Land
27.426,510
—
C)
12,231
58,447
187,524
20
Intangible assets (amorlizable)
8.091.937
—
CI
CI
14,186
22.603
21
Less Accumulated amortization ...
2,736,191
CI
CI
7.311
8,634
22
85,138,959
7,110
17 711
57,683
189.667
23
Total liabilities
2,415,237.420
84,970
334,926
1.251.675
207,979
3.592.973
668,772
24
Accounts payable
146.819.836
_
26.684
50 607
25
Mortgages, notes, and bonds payable m tess than one year
162.874,810
—
32.823
102,280
198,534
579,522
26
Other current liabilities
942,128.236
—
49,781
33,112
107 635
303.159
27
Loans Irom stockholders
11,989.251
—
CI
60,971
61904
101.443
28
357,784.130
—
24.642
58,539
243 772
839.407
29
Olher liabilities
157,194,016
-
7,775
20 660
69452
138,538
30
Capital stock
139.086,553
_
63 061
60,766
191 474
404.332
31
Paid-in Of capital surplus
169,104,337
—
52,364
57 825
193,666
534.647
32
Retained earnings, appropriated
14,925,218
—
CI
CI
CI
6,862
33
Retained earnings, unappropriated
322,268,470
—
-186 328
-96 040
9001
113,070
34
Less Cost ol treasury slock
8 939,437
-
C>
13 997
23,146
95 798
35
Total receipts .-.-. .... .....p....... ......
1,654,762.650
5.309.714
361.031
1,596.631
2,800,472
1.070.141
7.760 429
36
Business receipts
1,518 969,969
5.009.594
345,871
1 565 929
2687 357
Interest on Government obligations
37
United Slates
4,479.173
4.305
—
CI
628
2,636
38
Stale and local
3.372 054
3 729
—
—
_
1,203
39
Olher interest
73 365,796
170.764
930
2,811
16.250
46,246
40
Renis
8.961,548
15,377
CI
7,490
19,935
72,488
41
Royalties
3,634.724
8,846
CI
CI
CI
4.349
42
Nel short-term capital gam reduced by net long-lerm capital loss
146,043
1,472
-
-
CI
CI
43
Net long-term capital gam reduced by nel short-lerm capilal loss
5,224 879
17.256
CI
CI
7365
20,940
44
Nel gam. noncapital assets
3,789,940
6,856
CI
7,315
9,732
19.089
45
Dividends received Itom domestic corporations
9,717.050
15.275
CI
C)
1 028
5,101
46
Dividends received Uom loreign corporations
6,949.303
O
—
—
—
CI
47
Other receipts
16,152,171
52,162
7598
10668
56 738
117,213
46
Tot3i deductions ,.,..,.,,,.,.,.............................■•..■•■••■•• ,
1,560.554.084
1,096,616,576
5,224,024
4,087.375
383.812
107,894
1,613,111
1.274 852
2,792,475
1,624,925
7.999.003
49
Cost ol sales and operations
5,466,750
50
Compensation ol ollicers
9,099,383
34,956
53,942
65,293
197.421
301,456
51
Repairs
14,319.402
31.475
CI
3.875
13,010
38,049
52
Bad debts
7.604,586
20.459
CI
8168
13,624
40,474
53
Rent paid on business property
19,540,677
40 526
26 026
23,173
63,796
166,502
54
Taxes paid
43.000,719
87,380
9,033
22,143
76,487
188.050
55
Interest paid
85,326,817
245,525
5,590
12 109
39,423
137,014
56
Contnbutions or gilts
712 589
884
|-|
CI
646
1,951
57
Amortization
643,326
1,779
CI
546
553
4319
56
Depreciation
51.164,332
84972
30 025
15 305
55,169
160.827
59
Depletion
17,852,266
3910
_
_
CI
3,106
60
Advertising
13.930,835
58,01 1
2 541
7.898
36.971
82,263
61
Pension, prolit-sharing, stock bonus, and annuity plans
14 262 274
26,198
C)
CI
13,157
38,011
62
Employee beneM programs
9,358,796
22.481
C)
2,390
6,429
22,606
63
Nel loss, noncapital assets , , , ,
928.278
2,225
CI
CI
I'l
16,330
64
Other deductions
175,993,208
475,968
142,194
173,329
647,267
1,331,295
65
Total receipts less total deductions
94.208,566
85,690
-22,791
-16,480
7.997
71.138
66
3.362,098
(*)
—
—
—
CI
67
Nel income (less deticit) (65 pius 66 minus 36)
94,198.610
83.875
-22 781
-16,480
7.997
69.935
68
Net income
104,d52,918
155,135
CI
27 010
95.052
221.388
69
Delicil
10,254.308
71 260
33,163
43,490
77.055
151,453
70
Income sub|ect to tax
94,653,894
125 939
CI
21407
55,151
167.005
71
Income tan. total
45,013,510
59,069
CI
7,445
17,929
64,270
72
Normal lax, surtax, and alternative tax
44,585,740
58,754
CI
7,445
17,878
63,497
71
Tax Irom recomputing pnor yeat investment c(edit
118,401
249
—
CI
CI
649
74
Tax Irom recomputing prior year work incentive (WIN) credit
313
—
—
—
—
CI
75
Additional tax lor tax preferences
309-056
CI
-
-
-
n
76
Foreign tan credit
20.212,438
2,629
_
-
_
CI
77
Investment credit
3,036,820
4.761
I'l
412
1.499
6,555
78
Work mcentive (WIN) credit
Dislnbutions to stockholders
4,185
(■)
"
"
"
CI
79
Cash and property eucepi own stock
34,480,019
33.769
O
CI
5556
13,248
80
Corporation s own stock
t,728 139
1*)
CI
I'l
Footnote at end ol lable See text lor Explanation ol Terms and Description of the Sample and Limitations ol the Data
Corporation Returns/ 1974
175
CONSOLIDATED RETURNS
Table 32.— Balance Sheets and Income Statements, by Size of Total Assets— Continued
[All (igures are eslimaies based on samples— npney amounls are m Ihpusarus ol doildfs|
Number ol coDMlldated returns, tola! .
With net Income
3 Number ol tubsKltaries
4 Total assets
Cash
Noles and accounts receivable
Less Allowance Iw bad debis
Invenlo'ies
InvestmenI in Governmeni obligai'Ons
Umred Stales
Stale and local
Other cufreni assets
Loans 10 slochtio'ders
Mortgage and feai estaie loans
Other tnweslmenis «
Depreciable assets
Less Accumulated depreciailon
Depletabie assets
Less Accumulated depletion .. .., . .
Land
Iniangible assels (amortirablel
Less Accumuialed arrK)niiaiion
Other assels ,
Total liabtlitiet
Accounts payable
Mortgages, notes, and bonds payable m less than one year
iDlhei currenl liabilities
Loans trom stOCKholders
Mortgages, notes, and bonds payable in one year or more
Other liabilities
Capital stock
Paid-in o( capital surplus
Retained earnings appropriated
Retained earnings, unappropriated
Less Cost ol treasury stock
35 Total receipts
Business receipts
Interest on Government obligations
United Slates
Slate and local
Other interest
Rents
Royalties
Nei short-term capital gam reduced by net long-term
capital toss
Net long term capital gam reduced by net short term
capital loss
Net gam, noncapital assets
Dividends received (rom domestic corporations
Dividends received from loreign corporations
Other receipts
Total deductions
Cost ot sales and operations
Compensation ot officers
Repairs
Bad debts
Rem paid on business properly
Tanes paid
Interest paid
Contribulions or gifis
ArrKjrlizaiion
Depreciation
Depletion
Advertising
Pension, profit-sharing. stOCK bonus and annuity plans
Employee benefit programs
Net loss, noncapital asseis
Other deduclions
Toial receipts less total deductions
Constructive tanable income from related (oreign corporations
Net income (less deficit) |65 plus 66 minus 38)
Net income
Deficit
Income subject to ta>
Income lai, total
Normal tax. Surtax, and alternative tai
Ta< from recomputing pnor year investment credit
Tax from recomputing ptior year work incentive (WIN) credit
Additional tax for ta* preferences ,
Foretgn tax credit
Investment credit
Work incentive (WIN) credit
Distributions to siockholders
Cash and propeny except own stock
Corporation's Own stock
Slie ot total assets— Continued
S 1.000,000
under
$5,000,000
10,934
7,56
25.960,974
1.767,475
5,935.390
207,671
5.191.666
1.219.146
154,081
283 224
2.183 434
11,953.407
5.382. 79B
106.394
37.007
1,239.560
233.044
77,719
1,130,678
25.960.974
4,163.939
4,293,757
2,379,331
448,003
5.793.049
1.184,754
2.449,880
2.470 642
86,858
3,187072
496 31
48,846,996
14,967
7,246
261.817
339,460
55.739
4,074
139.355
150,357
39 568
10647
628.529
47.946.664
34.5%.906
1 168,794
267.777
242,910
739.002
1.131,613
967,361
16.165
17,565
1,052.464
29,269
412,337
216,263
153.346
47,695
6,684,775
902,332
3.436
B98.522
1,676 762
778,260
1 440.615
644,509
641399
2,497
(■)
607
8.555
45,417
SS.000.000
under
S 10.000.000
24,605,764
1 446 460
5,757 728
174 164
4.364.805
244 268
168,592
1 226 394
213,403
505.176
2 407,957
10.463,498
4,424.569
155.216
38.703
1212.527
243 705
65.212
896 723
3,431,477
3 907.165
2,806,633
282.774
5.773.120
1,080.154
1,971 527
2,263,S42
80,555
3.368,986
382,169
34.029.985
21236
11.914
310,351
370.739
41,503
2761
1 1 9 828
130,853
36)
7,524
544.156
37.378,693
27 462 510
601343
197 469
167 367
505,679
900,631
905,787
15,971
10,305
866,967
29.581
362,604
154.660
114.914
50,039
5.012,666
651 292
2,060
641.436
1 326.831
685,393
1.180,069
546,205
542 744
2,518
sto.ooo.ooo
under
S25,000,0O0
(■)
940
2,956
1.953
II 271,857
346 134
7,811345
2,409.327
120,256
1 680,602
4,6tl 643
17 590 619
7 031,665
442 168
128 622
1,783.192
336.337
88 639
1,939 524
5,491,059
6,255,082
8,664,698
384,029
10,032,891
2 301 332
3,036.369
4 472 376
197 948
6,564 593
573 746
64,379,861
72,022
38,294
759,644
501,071
73.209
3.724
240,466
274,816
76,245
24,125
783 435
63.094.325
46.820 599
788.543
324.290
328,566
858,418
1 417 196
1,706,104
27,002
20.796
1412
93,
524,830
282,114
225.285
102,340
8 160,756
1 .285 536
9.506
1 256.746
2 464,987
1.208,239
2,216 176
1.041,448
1.035,277
3 368
5
2.798
26.477
65,245
151
292.377
37,012
$25,000,000
under
$50,000,000
1.513
1.041
53.528.433
2.832.320
12,277,505
464,194
8.254.231
2380.78
105,433
4,888,626
5,698,7%
18,125,291
7 339,309
542.026
157 751
1 ,730,486
337.677
91.%2
2 128,013
53.528,433
5,277,595
5,905,489
13,326,292
307,558
10.594443
2,698,777
2.890.267
5.090,733
214.394
7 617 504
394 639
6 1.030. 131
92.576
48,535
1 115,15
504,095
106.846
4,269
251,758
. 226.824
107.291
27,554
702 666
59.347.390
43.317.531
570,801
343,289
284,480
896.223
1 368 125
1 966,69
28.565
16.293
1,379.228
99.524
646.779
305.751
234.620
62,625
7.826,965
1,662.741
16,597
1,650,803
2.510,623
859.620
2.228.795
1.053.115
1,045,217
4,108
6
3,784
34.699
66.473
205
351.520
59.120
S50.000.000
under
$100,000,000
1,055
758
75.280,534
3.917 707
17.105,739
732.534
9.966.806
2.813.528
142.799
10.337,570
8,242.122
23,479.957
9,363.75
609,743
227,184
1,833,898
438.5 1C
90.968
2,717.529
75,280,534
6,142,049
6,635,139
22,776,760
376.69
13.539,20522
4,294.300
4,116,583
6.592 740
331,675
10.749,340
475,946
78.043.309
73,818,754
140,046
88,662
1,874,889
409,378
144,515
3,555
230.643
236.520
139.173
87 139
870,035
75.649.776
55,215.358
586.518
440,793
346.064
1.023.957
2,021.192
2.716471
28,296
14,695
1804 082
156.939
724,676
431.184
355.504
66.811
9.715.234
2.393.533
52961
2,357,832
3,330.555
972,723
3.055,075
1,443.722
1.434,260
5.069
7
1100,000.000
under
$250,000,000
4.386
74.887
94 329
552.674
129 510
151,097,724
7 280 875
33 596,038
1 493 621
16 976,857
4 058,156
3,712,224
5,092,812
337.867
25.674.686
16,662,338
46.992,803
16,072,719
2.017,385
739.129
3.133.805
823,912
203,932
5.248,367
151.097.724
10.999,957
10,933.552
53,095.090
889,097
24 656,814
7,910 033
7,295.271
13 005,8
706,655
22,302,932
897,575
134.116.502
313 947
172,613
4.260,928
656,168
199 562
16.166
540,043
524,686
284,197
229,991
1,4B5 370
128,902.766
93,003 998
852 263
1,006,030
565,758
1,713.849
2925,165
5,355,637
58,522
42 120
3 167.9
304,629
1,462,782
657,554
644,188
93,349
16,628,921
5,213.736
146,573
5,187.696
6.257,135
1,069,439
5,702,953
2,704,260
2 662,862
7 356
14.036
244.140
211.178
1,378 662
148637
170 629 113
626,193 239
15 375.069
119,760,505
59 349682
67,717,691
68,000,463
1,367601
144 431 634
243.755,184
682.563,979
244 079 446
28,748,904
11,006,653
16.233,032
5,638,605
2100,204
70,603,954
2,032.652.614
110,359,716
123.831,467
838,563,546
9.060.052
286,029,248
137,468.041
116 617.003
134,349,902
13,294,308
266,636,340
5 579,011
1,212,175.877
1,099.323,931
3.816,754
2 999 858
64,546.015
6,061,704
2,999,062
108.784
3652,462
2 202 601
9,012 694
6 558.211
10,893.601
1,130,222.045
783,837,678
3,678,033
11,651,767
5,544,847
13,483,536
32,853 502
71,265,105
534,585
514 096
41 135.211
17,129.647
9,609 141
1 1 932 342
7 575 449
483,170
118,793,736
81 953,832
3 129,051
82,083,025
86.387,018
4,303,993
78,455,365
37 430.431
37,055.319
92.535
280
282.297
19,613,731
2503 828
2,970
31,639.724
I 309 810
(■) Estimate IS not shown separately because ol ihe small number ol sample returns on which it was based However, ihe data are included in the appropriate totals
NOTE See le<t lor Explanation of Terms' and "Description ol the Sample and Limitations ot Ihe Data
176
Corporation Returns/ 1974
CONSOLIDATED RETURNS
Table 33.— Balance Sheets and Income Statements, by Industrial Division
[All
figures are eslimates based on samples— money amounls are m thousands ol dollars}
Item
Total
consolidated
returns'
Industrial division
Agriculture.
forestry,
and fishing
Mining
Construc-
tion
Manufac-
turing
Transpor-
tation
and public
utilities
Wholesale
and
retail
trade
Finance.
insurance.
and real
estate
Services
Number of consolidated returns, total
111
12)
131
|4|
|5|
161
171
18)
191
34,678
389
568
2.511
8,509
2,078
8,288
7.765
4,546
4.853
.1
Number ot subsidiaries
141.864
859
2.200
7.104
40,104
9,832
33,222
4
Total assets
2,415.237.420
4,042,119
35.289.864
23,265,741
703,961,020
346.839.932
108,071,871
1,156,480,629
37,133,040
5
6
7
e
9
10
Cash
Notes and accounts receivable
Less Allowance lor bad debts
Inventories
Investmenls in Governmeni Obligations
United States
State and local
191.086.374
713.378.720
16.631.603
173.295.071
67,661.497
75.554.950
178.653
576.697
12557
400.667
12.983
("1
1 194 952
9.296.204
44 541
2.408915
175371
194375
1,181,305
5,998,444
55,636
2,865.463
57.4%
62.512
17,236510
160,133,707
4,048,290
122,508,112
7,037,398
1,985,112
4 622 365
19592.894
320.452
11366 287
2 539 011
179 923
4 933 314
29 085,549
819.271
26-409 197
227 673
131.065
160.017034
462.234 142
13 300.206
3.276.241
57.563.707
72.705112
1713,401
6445,424
230,286
2030,636
227,658
276,669
11
12
Oilier cuneni assets
83 405.858
2 490 606
167.824.224
264.034.636
813.669.040
296.976.182
162.830
20.275
70.078
714.692
1916.402
!■)
607.973
55.115
169.755
6 156 649
16.253,951
6,311,261
2.251.521
63.977
247.370
3.282.635
7567 055
2.940 796
31.387.116
1.307.669
2.207.776
115.500.890
361 746760
176.413708
9978803
89 264
464.064
30 298.400
336.930.362
61.672.836
4 446 150
162.562
362.960
14360.352
32 614 093
12.845,875
32.034.131
666.129
163.419.297
107.523.817
36.704.774
9.043.048
2,316,257
13
14
15
16
Mortgage and real estate loans
Olher inveslmenls
Depreciable assels
Less Accumulated depreciation
642,852
6176,451
19,909,511
7061,611
17
16
19
20
21
22
Deplelable assels
Less Accumulated depletion
Land
Intangible assets (amortizable)
Less Accumulated amortization
Other assels
32 626.561
12.337.349
27.426.510
6.091.937
2736.191
85,138.959
30.254
3.144
412.318
19.467
4,821
170,530
4761366
1,921,021
618,935
697,227
250,672
1,022,571
78.675
17211
1.222.691
59.647
11.453
1.331.626
26.149.082
9.979.997
11.242.274
4,754.958
1,836,987
33,036,636
1.039 561
198512
3.231.150
905 241
225.612
7.999 999
421,651
112,779
2645,694
495,664
114,335
3,647,987
278 480
100 986
6.436.800
675,595
141 163
35510,773
61.186
3.669
1.601.740
480.624
149.682
2413726
23
2,415,237.420
146.819.836
162.874.810
942.126.236
11989 251
357 784.130
157 194016
4.042,119
253.464
569.520
346.190
68.668
1.305304
267.579
35,289,864
2,330,684
1,328,588
8681,189
169 788
5,396,667
1,494,650
23,265,741
3.685.326
3.164.272
2379.328
181.177
5.115.671
2501.449
703,961,020
86,907,406
57,675,609
56,746,727
6,291,267
126,402,423
46,481,019
346.839,932
11.257.561
19.858.253
19.568.756
571.631
133.110.021
24228 276
108,071,871
19,004,239
17,073,017
9,187,067
1026,960
19,540,262
4,280731
1,156,480,629
20,272,365
58.175.433
841,311.579
3.273.045
55.404.631
75.706.259
37 133 040
24
25
26
27
28
29
Accounts pavable
Mortgages, notes, and bonds payable in less than
Other cunent liabilities
Loans Irom stockholders
Mortgages, notes, and bonds payable in one year or more
2.881.459
4.612.047
3.864.830
397.372
11.468.306
2.229.863
30
3t
32
33
Capital stock
Paid-in or capital suiplus
Retained earnings, appropriated
Retained earnings, unappropriated
139.088.553
169.104337
14.925.218
322.266.470
B 939 437
345 165
454 265
1*1
458 093
33.345
1,465551
4,860,933
691,751
9,111,095
241,232
1.155.165
2.052,521
58,606
3,050,072
277,849
52,658,193
73,262,230
5387,135
197 047,999
5118,968
54.436.164
32.000.126
1.265.857
51013.252
489 987
6,766,824
12,327,284
509,630
19,212 090
858 433
20.222.230
38 111806
6 862.123
38.659 006
1 517 650
2.032.323
5.995757
142.900
3 699.828
391647
35
Total receipts
1,654,762,650
4.686,395
52,276,018
28.677,326
962,160,712
168.268.955
264,763,627
140.078,660
33,661,870
1 518.969 969
4 479 173
3 372 054
73.365.796
8 961 548
3.634.724
4.388.541
1.445
1817
59,862
28,476
12,846
50,961,471
15.341
5.424
244.139
77.568
125,417
27.256.450
6.049
4.997
290.644
326.294
10.540
923 008,955
530,851
251,369
7,175433
2,926,754
2,870,961
161 883.213
76482
16786
1.427.720
1675.988
148.969
256685,555
45,545
9,969
1,747,666
979,560
66,628
61.329 899
3.786.894
3.066.604
61.915-787
2.551.601
73.490
Interest on Governmeni obligations
36
39
Slate and local
13048
503 127
41
Royalties
320.375
42
43
Net short-lerm capital gam reduced by net long-term
capital loss
146 043
5.224.679
3.789.940
9.717.050
6.949.303
16.152.171
I'l
63.758
33.978
10.757
13.297
71 423
3192
247,350
31,326
109.524
98.429
356.635
1.256
135.811
124.667
23.724
48.345
446.329
75,840
3.340.61 1
656.716
7.717.067
6.318.349
7.285584
20.136
514.273
408.920
147 885
91 709
1852 874
3,094
194,558
104,014
215,972
214,629
2,496,177
39.499
607.266
2.315.031
1.432313
104.585
2.855489
2.651
120 883
113 033
45
46
47
Dividends received Irom domestic corporations
Dividends received Irom loreign corporations
Other receipts
59.807
59.651
765.549
48
Total deductions
1,560,554.084
4,621,078
27.986,241
28,376,087
908,412,123
161,065,470
261,370,102
135,651,217
32,882.433
1.096.616.576
9.099.383
14.319.402
7.604.566
19.540.677
3.634.059
34.639
34.269
12.157
37.102
16.001.877
112.366
137.936
24,833
132.546
23.169.427
364.542
133.923
131.807
235.545
694.359 737
3.013.859
11.903.073
2,047.829
7,520.247
99.026.377
605.429
421.055
813.085
4.277919
206,461,492
1,167,739
885,648
852,609
3,914,974
35.299.649
3129295
463 403
3.515.049
2.299,358
50
Compensation ol otticers
646.000
339.253
51
1 115.452
54
43.000.719
65.326.817
712.569
643.326
51.164.332
81.003
162.208
1.983
486
123.224
575.276
552.007
10.578
4.060
999.533
465.914
709.326
10.039
4.128
591.347
24.067.117
17 667525
468.871
255.807
24.262.411
9.650.726
10755.235
84.935
237,323
17,021,666
3,659,313
4041,164
57,354
48,613
2,593,693
3,170 469
49.906.410
63.472
44.057
3.187.602
1.086.558
1 527.222
56
Conlnbutions or gilts
15.340
48.306
56
Depreciation
2380.463
59
17.652,266
13.930,835
17.953
13.148
7.360.264
21.264
17.678
66.977
9.867 861
8.709.406
298,056
605,393
250,313
2,901 753
34.834
1,143,565
5.056
60
Advertising
453.855
61
62
63
64
Pension, prolit-sharing, slock bonus, and
annuity plans
Employee benetit programs
Net loss, noncapilal assets
Other deductions
14,262,274
9,358.796
928.278
175.993.206
10.975
6.021
1.045
448.604
136.829
63.603
26.945
1.806.258
166.452
84.448
21.577
2.142.957
9.329.692
6.700.353
370.691
67.847.624
2,639,008
1,295,239
39,579
12,894,445
644,659
577,997
111,116
33,201 665
955,806
457 717
304,898
31,675 633
178.262
150.773
52.427
5.947 797
65
66
67
68
69
Total receipts less lolal deductions
Conslnjctwe taxable income Irom related toreign corporations
Net income (less deficit) (65 plus 66 minus 361
Net income
Deficit
94.208.566
3.362.096
94.198.610
104.452.918
10.254.308
65.317
fl
64.467
191.609
127.142
24.289.777
33.716
24.318.071
24.566.536
250.467
301.239
40.936
337.178
794.939
457.761
53.746.569
3.064.236
56.561,436
59,366,549
2,805,113
7,203,465
42,256
7,226,955
6,657,563
1.430,608
3,393,525
97.652
3.481.186
5.317.300
1.836.112
4,427 443
51,187
1,412,026
4,159,479
2,747,452
779.437
31089
797.478
1.389.737
592.259
70
71
72
73
74
75
Income subiect 10 lax
Income tax, lotal
Normal tax, surtax, and alternative tax
Tax Irom recomputing prior year investment credit
Tax Irom recomputing prior year work incentive (WIN)
credit
Additional lax lor lax preferences
94.653.694
45.013.510
44.585740
116.401
313
309.056
174.034
77.587
77.269
246
l"l
24.161.176
11.621.610
11.563.749
1.067
ri
36.790
694.690
321.922
319190
1.507
1")
1.225
51,900.952
24.607.391
24.311.906
74.496
279
220.710
8 134,390
3,862,417
3,833,556
22,202
CI
6,644
5012.699
2362.110
2.351.398
6.645
13
4.054
3,379,640
1,610,560
1,564 577
7,737
!•)
38,244
1.168,911
546.575
540,759
4,499
1.317
76
77
78
79
60
Foreign tax ciedil
Investmehl credit
Work incentive (WIN) credit
Distnbutions to stockholders
Cash and property except own slock
Corporation's own stock
20.212.438
3.036.820
4.165
34.460019
1./28.I39
n
5.948
34.305
11.021.563
82.693
74
7,394.273
49,334
49,500
22,233
14
1,10,985
21,368
8.069.607
1.636.104
3.216
15.544.654
1.296.261
91,434
959,428
351
7,044,960
113,223
343.228
157.655
212
715.338
86.605
574,306
97,037
136
3,326,260
99,577
61600
73,431
178
287,643
56.596
(') Esttmate is nol shown separalely because ol Ihe small number ol sample relun
'Includes "Nature ol business not allocable ' which is not shown separalely
NOTE See text lor 'EKplanation ot Terms" and "Oescnption ol the Sample and Limitalions ol the Data
on which It was based However, the data are included in Ihe appropriate lolals.
Corporation Returns/ 1974
177
RETURNS OF MEMBERS OF CONTROLLED GROUPS, OTHER THAN FORM 1120-DISC
Table 34.— Number of Returns, Total Assets, Total Receipts, Net Income, Income Tax, and Selected Dividend Items, by Major Industry,
by Type of Return
[All figures are estimates based on samples— money amounts arc ir
thousand;; ot dollafsl
All
Industries
Major Industry
Type Of return, item
Agrlcutture.
forestry.
and
llshing
tyllning
Tolal
mining
Metal
mining
Coal
mining
Oil and gas
extraction
Nonmelalllc
minerals,
except fuels
HI
|2|
131
(41
151
161
|7)
Total fietorn* ot Memliers ol Controlled Groups, Ottier than Form t120-0ISC
Numtwr ot returns
Number ol consolKjaled returns
NomOer ot subsidiary COrporaiK3n5
Number ol 11205 returns
316,083
34678
141864
15 109
4,866
389
859
536
2607
566
2,200
136
40
36
299
560
129
477
47
625
275
966
22
1 182
128
456
67
Total assets
Total receipis
Net income (less deticit)
Income la«
OistiibulKjns to slochholders ercepi in own sloch
2 943 556,693
2 212,339 576
115,944 289
55,565 399
39350,225
6611,318
9,026 888
88,775
130 990
42,643
40320,609
57 807632
25,069,100
11934,364
7,509,319
6144.359
4,331,464
333,013
165,707
186037
6,204,500
6990,476
982,229
424,271
137 176
20.972.006
42139.827
23.352077
11.172.762
7,090,926
4,999,744
4345,865
401 781
171644
95.180
Relunu ot Members ol Controlled Groups. Other man Forms tt20S and 1130.0ISC
Relurns ol members ol controlled Qroups allocdhnq one surlai eiemplion under section iStil
Number 01 returns
195 603
34 563
141 693
32B3
386
1657
568
39
36
299
8,063,338
4,254,193
287
129
477
5,281,197
5,741,435
CI
616
275
968
20 599 668
41 441 402
CI
715
128
456
4.228.526
3,421,492
CI
Total assets
Total receipts
Inlragroup domestic dividends received qualitymg lor 100 percent deduction
2,786,881,688
1 959 889,275
894 967
5586 993
6880852
n
38 172,729
54 358 522
ft
Net income (less detail)
Income tai
Distributions to slockbolders except in own stock
105,280 588
50517416
37 763 328
53289
103,674
37 490
24 667 225
U 772 503
7 454 192
326.920
165,517
184.601
719 440
312968
113,849
23 296,266
11,153,983
7,079432
324,599
140 035
76,110
Returns ot members ot conlrolled groups electing lo use multiple surtax
eiemplons under sections tS62 and 1564
Number ol relurns
Total assets
Total receipts
Intragroup domestic oividends qualilying lor transitional deductions under Section tS64(b):
105,371
150 265,114
241 211 534
82,858
79654
1,047
1.095 251
2 066.323
63
61
814
1,953,509
2424222
l"l
(*)
CI
f)
I'l
226
856 006
1 162121
C)
187
282,514
301,821
400
733,968
883,009
CI
CI
66,716
31,609
13.011
Amount deducted
10,391.325
5,067983
1,384 071
41,592
27,216
4,443
358.847
i6t.eet
30.513
6.093
190
1.236
246,370
111,303
13,306
39,668
16.779
CI
Dislributrons to stockholders except in own stock
Returns ol members ot controllod groups try type Ot relationships
Members ol parent. subSMJiary groups
Number ol returns
Number ot consolidated relurns
Total assets
Total receipts
Net income (less detiat)
83,177
28,423
2,624754,822
1,872412,266
105,495,501
7t4
285
4,202 197
5,676,748
78,547
914
481
37195.555
53.979,640
24 612 707
38
35
7,734 760
4 197 352
333,075
136
92
5 178 506
5.224290
660411
356
244
20037317
41046 003
23 264 952
384
no
4,244,952
3.511,995
354.269
Members ot brother sister groups
159.616
80,749,069
142 852,539
4186707
2,430
1,310,966
1,948 640
20 123
1.061
1,136,358
1566744
189586
-_
240
308.043
666149
294
481 462
456 299
527
346653
444 296
Tolal assets
Members ol combined paieni subsidiary and brother sister groups
Number 01 returns
Total assets
Total receipts
Net income (tess deliall
163,883,506
114,693,445
3,321,230
443
797 358
838,631
-13,765
207
1,193,644
1,021.998
92.809
CI
CI
CI
CI
67
323.067
555,193
75,138
72
257.593
145,351
7664
66
203.405
187,342
10,069
Members 01 conlrolled groups with relationship not determinable
40 %9
743
289
-
70
81
138
178
Corporation Returns/1974
RETURNS OF MEMBERS OF CONTROLLED GROUPS, OTHER THAN FORM 1120-DISC
Table 34.— Number of Returns, Total Assets, Total Receipts, Net Income, Income Tax, and Selected Dividend Items, by Major Industry,
by Type of Return— Continued
[All ligures
are estimates Oase(3 on samples— money amounts are ir
ihousantjs Ol dollars]
Major industry— Continued
Construction
Manutacturing
Type of return, item
Total
construction
General
building
contractors
and
operative
builders
Heavy con-
slrucllon
contractors
Special
trade
contractors
Total
manulacturing
Food and
kindred
products
Tobacco
manu-
tactures
Teitile mill
products
Apparel and
other leitile
products
(8)
(9)
(101
(11)
(121
(131
(14)
1151
(161
Total Returns of Members o( Conti oiled Groups
Oltier ttian Form 1120-DtSC
Number of telums
Number ol consotidaled returns
Numbe' Ol subsidiary corporalions
Number o) 1120S reiurns
21 181
2511
7t0<
965
10,110
1 105
3,883
613
2626
356
1 181
40
6 445
1050
2,040
112
42 393
8 509
40 104
1499
3 724
756
3,632
CI
60
13
392
t 748
395
2280
CI
4012
448
1.684
CI
Tolal assels
Tolal receipts
Ne! income (less deliCil)
Income la*
Dislfibultons 10 slockholders excepi -n own slock
38,978,299
57,478,063
796,879
633 915
199374
20,560 538
25,926,320
79,867
211 155
75,581
10,947 690
17,221,654
466320
259,436
83,445
7,470,071
14,330,069
250 692
163324
39,348
611,217,592
1,135,941204
65,956,372
29 171 259
17,667014
62,244,009
131081,491
4756,586
2 425 368
1354 687
14.028456
13.469,668
1202,745
552 564
377,967
15,967 725
24 736 432
630 889
435 982
200,713
9,859.620
18.900 693
477 397
292.451
113-171
Returns of Members ol Controlled Groups, Other
man Forms 1120S and 1120-DISC
flelurns ol members ol conKolled groups allocating
one Surtax exemplion under Section 1561
Number of returns
Number ol consoiidaied returns
Number of subsidiary corporations
14837
2498
7079
6,555
1,101
3.876
1 549
356
1 161
6 733
1,041
2022
27,475
6,485
40,062
2410
749
3 611
29
13
392
1,107
395
2,280
2 121
448
1684
Tolal assets
Tolal receipts
tntragroup domeslic dividends received qualilymg
lor too percent deduclion
32,517 167
46 001 192
2 101
17,319,166
20 951 485
(*)
9396,819
14,343,523
CI
5801 162
10 706,164
C)
769,576,808
1060,165,555
160132
55 766,885
114,446 972
C)
13,920,160
12937,634
31 959
14,222 829
21 287 247
9,661
6447.361
11 957.366
644
Nel income (less del'cit)
Income tai
Dislribulions lo stockholders except m own stock
530,526
495 750
167 335
8,888
1 70 798
63,051
369186
208 593
75,867
152452
116 359
28,417
61,690 656
27,092 981
16,933,725
3 972 583
2 047 057
1,196 091
1 192169
547573
376,714
462 066
354 428
182 588
237.933
169.626
76.365
Relu(ns of members ot controlled groups electing to use
mullipie surtax exemptions under sections
1562 and 1564
Nufnber ol returns
5,379
5252,778
10,019,758
CI
(•)
2,742
2,316,102
3,949744
CI
C)
1,037
1,427,489
2703.276
CI
CI
1 500
1 509,187
3,366,738
C)
C)
13419
40 398 485
74010852
20019
19 262
1239
6 405,271
16 375 561
3,848
3 704
CI
CI
CI
610
1723 718
3,413,996
CI
C)
1 791
Total assels
Tolal receipts
inliagroup domestic dividends qualilving lor transitional
deductions under Section 1564(b)
Amount received
Amount deducted
3.336:i84
6.855.782
285
277
Net income (less delicit)
Income la»
Distnbutions to stockholders except in own stock
249,102
138 165
13413
71,871
40,357
2,295
90616
50,843
7205
86 615
46,965
3913
4,227,074
2,078,278
706,785
778,760
378,311
154,448
C)
C)
CI
149 953
81,554
17,900
234.448
122 825
32.266
Retums ol members ol controlled groups bv type
ol relationships
Members ot Parent-Subsidiary groups
Number ol returns
Number ol consolidated returns
Total assets
Total leceipts
Net income (less delicil)
3,694
1,935
22,599,386
28,966,913
414,926
1,751
685
11 779,337
13,419,728
17,374
440
261
7 128,387
9,776,707
263,371
1,503
789
3,691,662
5770478
114,181
15,611
7,408
770012622
1058 061,314
62,370,735
1,543
671
57 559,162
117,334,730
4,300,742
25
12
12,614,539
10,736 322
1,095 285
656
335
14 052 883
20 759 607
486,281
1349
327
7 656 079
13 332 596
346.830
Members ot brother-sisler groups
Number ol returns
Total assels
Total receipts
Net income (less delicil)
12,898
8,166498
16,465,299
207,060
5,965
3,955,382
6 668,748
26,957
1,738
1,723,659
3,633,332
93,875
5195
2,489,457
6,143,219
84,228
17,640
13,108,559
29,255,723
1 149 880
1,602
1,368,920
4,425,643
102,233
CI
CI
CI
(•)
864
521,489
1,343,119
26556
1.999
1.195.175
3.109.539
73.316
Members ot combined paienlsubsidiafy and
brother-sisler groups
Number ol leturns
Total assels
Total leceipls
Net income (less delicil)
1,224
4,548,082
6,062,356
73,371
506
2,986,882
3,409,244
32449
200
917,154
1 469,150
20 153
518
644,046
1,163 962
20,769
3,144
16,646,969
26 673,032
1378,535
237
1,380.572
4.557.443
120.426
C)
CI
CI
CI
86
748 508
1,380,234
59394
286
598.480
1.458.189
29.963
Members ol conlrolled groups wilh relationship
not determtnabfe
2,400
1075
208
1117
4 499
26?
C)
111
278
Foolnotes al end ol table See text lor Explanation ol Terms ' and Description ol the Sample and Limitations of ttie Data
Corporation Returns/ 1974
179
RETURNS OF MEMBERS OF CONTROLLED GROUPS. OTHER THAN FORM 1120-DISC
Table 34.— Number of Returns. Total Assets. Total Receipts. Net Income, Income Tax, and Selected Dividend Items,
by Type of Return— Continued
[AN Itgures are eslimales based on samples-money amounts are in thousanqs ot doliarsl
by Major Industry.
Type o( return, item
Total fleturns of Memt>ers of Conlrojted Groups
Other tttar. Form 1120 DISC
Numt)et 0' returns
Number of consolidaled returns
Numl>er ol SubSittiary corporations
Number of 1 1 20S returns
Total assets
Total receipts
Net income (less deiicill
Income ta>
Distributions to stocktiolders e«cepl m own stock
Returns of Members ot Controlled Groups Ottter
Than Forms 1120S and tl20-DlSC
Returns ot members ol Contiollea qrojps
allocating one surtai e.emplion unoer Section 1561
Number ol returns
Number of consolidated returns
Number ol subsidiary corporations
Total assets
Tolal receipts
Intragroup domestic dividends received qualit^ng for 100
percent deduction
Net income tiess delicit)
income tat
Distributions to stocktioiders eicept ■
own stock
Returns of members ot controlled groups electing
10 use multiple surlai exemptions under SecfHJns
1562 and 1564
Number of returns
Tolal assets
Total receipts
Intragroup domestic dividends qualilying lor transitional
deductions undei Section t564(bl
Amount received
Amount deducted
Net income (less deficit)
Income tai
Distnbutwns to stockholders except in own slock
Returns ol members of controlled gioups by tytje
ot relationships
Members ol parent-subsidiary groups
Number of returns
Number of consolidated returns
Tolal assets
Tolal receipts
Net incon^e itess deficitj
Membeis ot biotheisisler groups
Number 01 returns
Total assets
Total receipts
Net income (less deliati
Members of combined parent-subsidiary and
brother sister groups
Number 01 returns
Total assets
Total receipts
Net income (less deticil)
Members ol controlled groups with relationship
not determinable
Maior industry — Continued
Lumber and
wood
products
2219
303
209
20.824 415
23764,805
t 183,048
518974
314 843
303
1307
19,696,671
21,774,250
1 090,065
473,617
297 396
900
1039,246
1 638,489
Furniture
and tiitures
85 640
45,357
21809
648
240
18,764 753
20?15r'i,
1 0-12,693
1035
700,079
1335 097
44 621
1 505639
82 497
3,344,698
5 607 274
236,632
127 154
46 744
2 727 145
4458,697
166,390
93,057
37,767
245
617,553
1 148 577
70 242
34 097
8 977
261
2,661,136
4151555
181,674
647
334,305
741 678
23 946
129,085
304 472
8,332
Paper and
allied
products
22 790 457
30,874,469
2 815 929
1,241,557
582,830
Manufacturing— Continued
Printing and
publishing
21,649943
29010 343
2,664,150
1,175,594
566,508
264
1 140514
1,864,146
151,779
65,963
14322
409
203
21,765,320
29,085,078
2,690,075
276
329.966
717.336
40.243
305 040
508 613
35212
Footnotes at end of table See teit for Eipianation of Terms and Descnption ot the Sample and Limitations ol the Data
4.966
939
3395
CI
21 167 298
26 999 438
1.994 140
966.744
488.963
3,566
935
3,387
1 621 1
785 806
428,355
2,553,889
3,484,362
1,732
1,689
376,249
180,938
60 608
18,284,338
22,651594
1 753,033
879078
1 675802
84 697
499
1619,227
2071 682
130,109
Chemicals
and allied
products
(•)
71 423287
89131 415
8503,992
3 969 752
2 507 120
512
2,805
8,148,192
3,802,217
2,449
2,453 739
3,952 765
351,467
167,535
56,592
1057
481
67 615,302
82,933,449
7 988 536
723
766 532
1 525,039
101 105
299
2 192 228
3 161 086
284 638
Petroleum
(Including
integrated)
and coal
products
122)
CI
157,125,349
273,276,648
20,037 803
7 002,685
3974,082
Rubber and
miscel-
laneous
plastics
products
1231
156 734 622
272 500,896
19,933,776
6957,570
3965 884
95,051
45,115
2395
156,466,824
272206,405
19,954,478
109979
216,518
15,293
492 435
675 118
55,446
CI
14 575 364
20,487677
699 447
341558
236 716
878
353
904
11,532,810
15,666,154
467 717
242479
171 137
599
3 011 704
4,743680
213,380
99079
64,579
536
315
13,550 735
18,357519
614,630
603
452,770
1065,164
42 250
102
232,598
404,01 1
15,705
Leather and
leather
products
C)
3,696,984
5,980019
105 259
81262
63,116
279
64
2329
2 195,973
4,065,382
12,91
38,129
23 928
209
1 486,441
1 3lt4,J66
CI
CI
90,630
43,133
38,454
50
2-301636
611 119
912,221
46 761
553.813
1 136,690
Stone, clay,
and glass
products
376
1,376
CI
18,539732
20 968,313
850,802
423,456
345,076
1.285
376
1376
706.662
351.222
305.934
697
1952.385
2.772.751
331
318
146.139
72.234
39.142
577
327
16.976.800
18.421.218
755.697
624.681
1.233.805
32.688
558.748
750.620
42.193
180
Corporation Returns/ 1974
RETURNS OF MEMBERS OF CONTROLLED GROUPS, OTHER THAN FORM 1120-DISC
Table 34.— Number of Returns, Total Assets, Total Receipts, Net Income, Income Tax, and Selected Dividend Items, by Major Industry,
by Type of Return— Continued
Major industry— Continued
tUanulaclunng— Conllnued
Type o( return. Item
Pnmary
melal
industries
Fabricated
metal
products
Hachiiwry.
except
electrical
ElectHcal
and
equipment
Motor ve-
tiicies and
equipment
Transportation
equipment.
eicepl motor
vehicles
Instruments
and rented
products
Miscellaneous
manutactunnq
and manu-
facturing
not altocatjle
1261
127)
(2SI
129)
130)
131)
132)
133)
Total Returns ot Members of Controlled Groups
Other than Form 1120-DISC
Numtiet ol relufns
Numbei ol consolidalPd returns
Number ot subsidiary corporations ....
1,297
400
2,616
3
73.167,948
84,843,861
5764 267
2,472,197
1,134 024
4,343
903
2667
202
25 883,774
39,610,035
2,373,949
1,134,507
426,632
4,420
906
3,205
n
76,702 445
77,418,480
6.080,413
2,996,961
1,737,457
2629
702
3,490
CI
68,621 654
75,486,287
2,670,198
1,379,397
1,170,430
466
178
964
I'l
75,605,382
103351,382
2,406,382
1,255,012
1,678,003
769
172
973
n
29,610,401
39 170,190
1,166,958
546486
351,842
979
236
975
CI
15,533,102
17,979 789
1,497,520
748,348
484,647
2.023
364
1.692
Tolal assets
Tolal receipis
Net tncome (less deliCil)
Irrcome ta»
Distribolions to slocKhoiders encepl m own stock
10,485,472
12,762.816
504.016
258.844
97.751
Returns of Members of Controlled Groups Other than Forms 1120S
and n20-OISC
Relufos of members ol conirolled gioup5 allocating one sufian
exemption under Section 1561
Number ol returns
Number ol consoLdaled returns
Number Ol subsidiary corporalions
893
396
2,614
2,616
903
2667
2,945
903
3,202
2,196
702
3,490
295
178
964
615
172
973
654
236
875
1,357
364
1,692
Total assets
Toial receipts
Inlragroup domestic dividends received qualilymg lor 100
percent deduction
70,903,551
79902,940
(*)
22108,055
32,797 778
1911
73 026,245
72147 459
6,977
66,629,390
72,457,806
15,111
75,065,903
102,340,712
5150
28,432,903
37,826,609
105
14.565,642
16.581.334
1.510
9611,329
11264,647
229
Nel income (less deficit)
Income tax
Dislnbutions to stockholders except in own stock
5,434 184
2,314,588
1,089,459
1,941,352
928 544
366,532
5763 540
2,643,730
1,688,943
2,509,327
1 294,909
1,143,047
2367 134
1,232 930
1,673,131
1,115,626
518,556
340,978
1,405,913
698,275
472,280
437,763
223.074
87,468
Returns ot members ot conirolled groups electing to use multiple surtax
exemptions under Sections 1562 and 1564
Number ol relurns
Tolal assets
Tolal receipts
Inlragroup domestic dividends qualilyng lor transilional deduciions
under Section I564(t.l
Amount received
Amount deducted
401
2,211,596
4,911,892
117
114
1,525
3,666,703
6585,687
2,114
2,039
1,440
3,642,690
5,219,425
4,602
4,417
453
1,739,380
2,927,697
1544
1 494
170
506,935
872058
124
118
129
573,976
1,067,919
(•)
l")
199
966,752
1 398,348
C)
CI
61S
636,142
1,440,447
!•)
C)
330,321
157,609
41,997
420,590
205,963
50,958
314,943
153.231
47.440
157,188
84,488
22.261
45,911
22,082
4,872
50,756
27,930
7,864
92,356
50,073
12,567
60 495
35.770
Distributions to stockholders except in own stock
6.081
Returns ol members ol controlled groups by type ot relaliorships
Members ot pa r^nl- subsidiary groups
Number ot relurns
Number ol consolidated returns
Total assets
Total receipts ....
Net income (less deficit)
686
359
71739,037
81,737,916
5,570,637
1,505
759
22,035,910
32,041,579
1955,537
1.714
807
71579 03-,
69 936,831
5710,491
1.153
614
67,332,969
73,113069
2,563,562
293
168
74,695,773
102,130,914
2,365.194
217
160
28,382,744
37.746042
1,124 556
388
224
14,868,567
17.031599
1450 487
726
331
9.909.1S4
10.287,348
398,756
Members ol brother-sister groups-
Number of returns
Tolal assets
Total receipls
Net income (less deliot)
361
515152
1,267 770
77 432
1,717
1,750547
3746,122
197,853
1856
1,338592
2.491,309
112.858
827
526,256
1,072 791
46,774
74
119,351
288706
19773
421
276,327
641582
10,331
398
219 834
410368
22 965
913
444,855
957 759
23,620
Members ol combined parem- subsidiary and brother sisler groups
Number ol relurns
105
232,042
560,123
41,766
294
1,016,423
1,778321
86 751
321
2.062,133
2,825,709
80,907
313
473,867
775,731
19,754
12
421986
494 681
18 189
20
233,624
323,177
20,326
53
162.597
281386
24943
67
875,970
1.161.955
64.144
Members ol controlled groups with relationship not determrnable
122
625
494
356
86
CI
CI
269
Footnotes at end o' table See text for "Explanation of Terms ' and Description of the Sample and Limiialions ol the Data *'
Corporations Returns/ 1974
181
RETURNS OF MEMBERS OF CONTROLLED GROUPS, OTHER THAN FORM 1120-DISC
Table 34.— Number of Returns, Total Assets, Total Receipts, Net Income, Income Tax, and Selected Dividend Items, by Major Industry,
by Type of Return— Continued
jAII ligures
are estimates base
6 on samples— money amounts are rr
thousands ct dollais)
Major Industry— Continued
Transponalion and public utilities
Wholesale and retail trade
Type 01 return. Hem
Total trans-
portation
and public
utilities
Transpor-
tation
Communi-
cation
Electric,
gas. and
sanitary
services
Total whole-
sate and
retail
trade*
Wholesale trade
Total whole-
sale trade
Groceries
and related
products
Machinery.
e(]uipment.
and supplies
Miscellane-
ous whole-
sale trade
(341
(35)
(36)
(37)
1381
(39)
(40)
(41)
(42)
Otrier than Form tt20-DISC
Number o( returns
Numtwr ot Consolidated returns
Number ol substdrary corporaliorrs
Number ot 1 120S returns
16 139
2 078
9832
73d
12275
1,495
5,916
712
1 849
342
2 375
CI
2015
241
1 541
CI
96,230
8,288
33,222
6,141
37 747
4,221
11,181
1.971
2,932
380
1,218
C)
6,625
698
1620
431
28,190
3143
8,343
1,483
Total assels
Total receipts
Nel income Hess delicit)
Income tat
Distributions to stockholders eicepi in own slock
369,853 948
186,857743
7 982 993
4,260 640
7,449,656
87,128,782
74,339,824
2,350,265
1,192,312
896,678
110,995,164
48,900,275
3351,751
1,657,854
2,576,220
171 730,002
63,617,644
2,260977
1,410,474
3,976,758
191093,321
518,019,609
9,971,837
5,412,068
1,653,603
91 345,919
266,697276
6,179,535
3,138,192
470,075
7,725,769
43,520,275
480,521
244 105
35 500
11,594,031
23,476,665
1,114,711
514 704
75,680
72,026,119
199,700,336
4,584 303
2,379 383
358.895
Returns ol Members ot Controlled Groups Other
Than Forms t120S and t130-OISC
Returns ol members ot controlled groups
allocating one surta. exemption under Section 1561
Number ol returns
Number ol consolidated returns
Number ol subsidiary corpoialions
10,114
2,074
9,816
7.584
1.495
5,916
1322
342
2-375
1,208
237
1,525
49,104
8,272
33.189
21854
4218
11,161
1,713
380
1,218
3,839
697
1605
16302
3141
8,338
Total assets
Total leceipts
Inlragroup domestic dividends received quahtving
lor too percent deduction
364,540,024
179,088.585
5,912
83,297,924
67,536,852
CI
1 10,609,665
48,685,479
170,632,415
62,966,254
CI
148,362,178
382,124 188
30,643
71,628,058
199 599,643
23,007
5,025.470
26921,760
CI
8421,563
16,609814
C)
56,181,025
156,068,269
21,088
Nel income (less delicitl
Income tai
Distributions to slockholdeis e<cepi in own slock
7,606,429
4,069,075
7,396,744
2,032926
1,033,916
868 959
3,316,449
1,642,230
2,570,204
2,259 054
1,392,929
3,957,581
5,840,853
3 543,002
1,207,506
3,668,336
2,114,902
299,696
291,204
155 493
18,674
677,057
325,535
42,006
2,900,075
1,633,674
239,016
Returns ol members ol controlled groups electing
to use mutipie sunai eiemptions under
Sections 1562 and 1564
Number ol returns
Total assets
Total receipts
Inlragroup domestic dividends qualilymg lor transitional
deductions under Section t564|b)
Amount received
Amount deducted
5,291
5,126 285
7 508 469
1922
1861
3,979
3,683,706
6,564,900
CI
CI
519
364,485
303,547
CI
CI
793
1,078,094
640 022
1,292
1,257
40,985
40979,246
129,891975
41356
40,027
13,922
18,895,011
63973788
25,462
24,616
1,162
2,643,792
16,192,644
CI
CI
2,355
2,974,917
6,397 153
CI
C)
10.405
13,276,302
41,383,991
22.432
21.723
Net income (less deliciti
Income tai
Distributions lo slockholOers e.cepi in own slock
370718
191 565
46,566
314,265
158,396
23,729
34,107
15,624
3,886
22 346
17,545
18,951
3,952440
1,869,066
372,410
2 190,623
1,023 290
121,589
178,595
88 612
13738
409 323
189,169
24,701
1.602,705
745.509
83.150
ol relationships
Members ol parenlsubsidiary groups
Number ol returns
Number ol consolidated relurns
Total assets
Total receipts
Nel income (less deticil!
4301
1,762
357,036 911
174 032 409
7544,897
2,364
1,269
80210,677
63,512303
2,054,593
862
268
107 469 756
47,738,321
3 287,474
1.075
225
169,358,478
62781,785
2,202,830
30.182
6.519
141,878,242
358 368 707
6,393,819
10,498
3,408
62,533,353
173 997 075
3 822 587
1,310
348
5,931,583
32,993 542
351891
1,671
561
6,473,586
12,089,040
571 421
7517
2,499
50,128 184
128,914,493
2,899,275
Membeis ol brother-stslei groups
Number ol relurns
Total assels
Total receipts
Net income (less delicitf
7,885
2866,405
5836,487
148 701
6,554
2,370,127
5,501,751
128,901
589
273,412
182 487
19474
742
222,866
152 249
326
43394
22 156,188
73904214
1,790,347
18 297
11369,871
37,655,324
l,t%,726
1257
885403
5,208,715
63826
3 129
2 100 909
5 047,377
230,623
13,911
6,383,559
27,399,232
902,277
Members ol combined parent-subsidiarv and
broltier-sister groups
Number ol relurns
Total assets
Total receipts
Net income (less delicil)
957
6645,529
4437822
131437
807
2 976,050
3,281,707
81,507
93
3,090,325
912052
34,916
57
579,154
244,063
15,014
3992
15,042475
47,371,026
820,832
1,741
11,009,108
35386070
589 600
90
396 744
2 189 186
27 146
274
2172355
4 531,550
198 926
1377
8 440 009
28665,334
363,526
Membeis ol controlled groups with relationship
not determinable
2,262
1,838
297
127
12 521
5240
218
1 120
3 902
Fooinoles a\ end ol table See leKl for Explanation of Terms and Descnplion ol the Sample and Limilalions of Ihe Data
182
Corporation Returns/ 1974
RETURNS OF MEMBERS OF CONTROLLED GROUPS, OTHER THAN FORM 1120-DISC
Table 34.— Number of Returns, Total Assets, Total Receipts, Net Income, Income Tax,
by Type of Return— Continued
and Selected Dividend Items, by Major Industry,
[All ligures
are estimates based on samples— money amounls are m
thousands 01 do1iars|
Maior industry— Continued
IMholesale and retail trade— Continued
Retail trade
Typ« ol return. Item
Total retail
trade
Building
matenals,
garden
supplies,
and mobile
home dealers
General
merchandise
stores
Food stores
Automotive
dealers and
service
stations
Apparel and
accessory
stores
Furniture
and home
turnishings
stores
Eating and
drinking
places
liliscellane-
ous retail
stores
(431
(44)
(45)
(46)
(47)
(48)
(491
(50)
(511
Total Returns ol Members ol Controlled Groups
Other than Form n20-OISC
Number ol returns
Number 01 consolKjaled returns
Number ol subsidrary corporations
Number ol 1I20S returns
58.464
4 066
22 038
4,170
4.674
279
1.237
289
3 939
343
3 551
CI
3 173
432
2.072
CI
9 529
695
I 775
362
8813
471
3845
660
3739
359
979
CI
11.012
538
3.999
1 574
13 585
749
4.580
532
99,681,440
251 262813
3.790 996
2,273,311
1 183.528
4.545.779
9580.714
226420
118.162
31.601
44.673.362
77.326.187
918.230
716297
725.209
14.087692
74.588 568
779.107
400 689
196.721
11.352 957
36 611057
445079
246657
45.775
4.978202
10.432210
294 845
171 272
38.458
3.506 172
7.128.585
131.309
82.705
6.744
6.447339
12882.630
389 542
203 337
36.821
10.089.737
Total receipts
Net income (less delicitl
Income tai
Distributions 10 slochholders e»cept m own stock
22.712.B62
606.464
334,192
100,199
Returns ol Members of Controlled Groups Other
than Forms 1120S and 1120-DISC
Returns 01 members ol controlled groups
allocating one surta* eiemption under Section 1561
'
Number ot returns
Number ot consolidated returns
Number ol subsidiary corporations
27.243
4.053
22 025
2 468
279
1.237
1.391
343
3551
t 419
432
2.072
5.849
883
1763
2.514
470
3844
1.802
359
979
5.659
538
3.999
6141
749
4,580
Total assets
Total receipts
tntragroup domestic dividends received qualilying
lor too percent deduclion
76.688.210
182497.646
7.636
3.103.049
6.274.362
3.392
40604.079
67544.613
(*)
10331 273
54 091.585
1 455
7.668.860
23.367.118
C)
2821 095
5.954 953
2.064 689
4 171050
CI
4095.696
7.419829
C)
5,999,469
13,674,136
4
Net income (less delicitl
Income la<
Distnbutions to stockholders except in own stock
1971937
1 427 838
907 610
107439
62912
24.383
694 601
604879
652,879
490.045
266.801
123.960
226.714
141.385
12.017
28 867
53 250
14.738
25026
30.151
2.161
150 321
97.665
9,925
248,724
170,795
67,747
Returns ot members ol controlled groups electing
to use multiple surtar exemptions under Sections
1562 and 1564
Number ot returns
Total assets
Total receipts
Intragroup domestic dividends qualitying lor
transitional deductions under Section 1564(b)
Amount received
Amount deducted
27 051
22 064.183
65885366
15 894
15.411
1.917
1 336 577
3056 092
("1
CI
2,486
4054 739
9 747 138
(•)
(■)
1.407
3.695553
20.278.374
809
787
3.298
3.338.745
12.124.457
2130
2.053
5619
2.094.373
4.326934
CI
CI
1.633
1.383.450
2.805 109
C)
CI
3,779
2,187,538
4832 590
CI
C)
6,912
3,971,206
8,714.672
CI
CI
Net income (less delicitl
Income tax
Distributions to stockholders except in own stock
1 761 091
845 473
250.821
105.943
55.250
5.850
222,918
111 418
71 754
285.736
133 886
72.138
204.740
105272
23.943
261 909
118 022
22109
106.465
52.554
2.932
223,772
105,672
20.242
349.608
163.397
31,853
Returns ol members ol controlled groups bv type
01 relationship
Members ot parent-subsidiary groups
Number ot returns
Number ol consolidated returns
Total assets
Total receipts
Net income (less delicitl
19.675
3110
79.305.617
184.350.488
2570 528
712
221
2.507590
4.811.199
93.961
2.325
185
43.387.354
74.077.638
853 366
998
321
11.975.184
61.536161
580.982
1.871
675
3.989,314
9960.642
154,914
4,489
356
3756.540
7599.289
193.532
653
286
1 540 434
2775.709
22.182
3238
442
4.792.802
8470.564
281.074
5,389
622
7.356,599
15,099,286
390,517
Members ol brotner-sister groups
Number ol returns
Total assets
Total receipts
Net income (less delicil)
25 091
10.764779
36 227510
593115
2.900
1 192111
3066185
76892
933
492 662
1 195,456
25,192
1.419
696.357
4 720 1 74
62.768
5.045
4.522 083
17267.165
166.236
2.015
491 434
1. 141.684
26 590
2.136
930.000
2203695
41.464
5,224
986.861
2 736459
74966
5,419
1,453,271
3,896,692
119,005
brother-sister groups
Number ol returns
Total assets
Total receipts
Net income (less Oelicil)
2251
4 033 367
1 1 984 956
231.232
lie
365.670
626.476
13.392
213
354.577
947.254
23.214
154
636.905
3 367 023
44.860
679
1 346.161
4.256.423
68.040
232
228.586
549.611
11 450
142
356564
583 323
8.966
131
230.022
437.644
10.028
562
514,862
1,197,200
51,282
Members ol controlled groups with relationship
not determinable
7 277
655
406
355
1 552
1 397
504
845
1663
Footnoles al end ot lable See lent lor -Explanation ol Terms and Description ol the Sample and Limtlations ol the Data
Corporation Returns/1974
183
RETURNS OF MEMBERS OF CONTROLLED GROUPS, OTHER THAN FORM 1120-DISC
Table 34.— Number of Returns, Total Assets, Total Receipts, Net Income, Income Tax, and Selected Dividend Items, by Major Industry,
by Type of Return— Continued
[All figures
ate estimates tiased on samples-money amounts are ir
Ihousands of dollarsj
Malor Industry— Continued
Finai^ce. Insurance, and real estate
Typ« of relufn, il»m
Total
finance,
insurance.
and
real estate
Banking
Credit
agencies
other than
banks
Security.
commodity
brokers and
services
Insurance
Insurance
agents.
brokers, and
service
Real estate
Holding
and other
Investment
companies,
except bank
holding
companies
(521
(531
154)
(55)
(56)
(57)
(S8)
(59)
Total Returns 01 Members of CootfolleO Groups
Otner than Form 1120-01^
Number of returns
Number of consoliijaled returns
Number ol subsitjrarv corpoialrons
Number ol 1120S returns
69.710
7.765
31.795
1 753
2.562
1337
6.026
CI
12.055
1.382
8.242
!•)
692
222
700
)•)
1.490
317
2.563
5.015
544
1 697
C)
56,653
3,294
10,734
1345
1 1.253
669
1.633
C)
Total assets
Total receipts
Nel income (less cJelicil)
Income tax
Distributions to sloclifiolders e»cepi m own slock
1 433.479,434
195160.860
4596.001
3.112.441
4416905
906131.306
70 395.275
1690.517
1023.473
2096.673
244670.523
34.212751
707.654
509.024
362573
17 127,216
4 178.006
108 178
83 356
61 958
191.957.894
68.051.569
1.332.539
671.864
1.227.383
4.117.837
3.303.273
215.400
112.799
53.000
52,867,601
12,678 091
19,625
387 217
159967
16.607.057
2.141.895
512.088
124.706
455.351
Returns ot Members ot Controlled Groups Ottier
Than Forms 11205 and tl20-DISC
Returns ol members ol conlrolled groups
allocaling one suna« exemption under Section 1561
Number ol returns
Number of consolidated returns
Number ol subsid-arv corporalions
60 551
7.748
31 764
2 249
1.332
6.020
8,602
1,381
8.240
526
222
700
1 184
317
2.563
4095
541
1.894
36 472
3.290
10.718
7.423
665
1.629
Total assets
Total receipts
Inlragroup domestic dividends received qualilying lor 100
percent deduction
1383 269.236
166 406 363
652.897
894,592.918
69,249,535
25.631
229 119.919
32.866.874
44.500
16.646 327
4.053 895
n
183 554.738
65.177 590
414.931
3469.891
2903,631
C)
40.992.257
10.203 685
17.714
14.873.186
1.951.153
99.113
Nel income (less delicit)
Income tax
Distributions to stockholders except in own stock
3,823.488
2714639
4232.034
1,629.277
990.276
2.073.272
636.206
464.440
321.536
86.224
70.004
61.542
1.164.944
792.01 1
1.201.360
169 857
88,621
41,385
-303.036
211.473
114.189
438.016
96.012
418.750
Returns ol members ol controlled groups electing to use multiple surtax
exemptions under Sections 1562 and 1564
Number 01 returns
Total assets
Total receipts
Inlragroup domeslic dividends qualifying for transilional
deductions under Section 15641b)
Amount received
Amount deducted
27 406
49.191 530
8.516.330
7.916
7.559
312
11513 069
1 143.141
247
241
3 341
15 457.897
1340.506
604
591
164
454,819
120.266
2%
9.403.156
2.873.999
CI
CI
664
587 646
375.275
CI
CI
18.836
11.130,590
2,473,246
1,900
1.853
3.593
1.644.333
189.897
4.454
4.316
Nel income (less deficil)
Income tax
Distributions to stockholders except in own slock
764.163
397.602
172.107
60.494
33.195
23401
71.021
44,584
41.037
19.671
13.352
n
167595
79.853
26.023
43.106
24 178
C)
325.371
175 744
34.914
76.905
26.696
36.601
Returns 01 members ol controlled groups by lype ol relationships
Members ol parent subsidiary groups
Number ol returns
Number ol consolidated returns
Total assets
Total receipts
Net income (less deficit)
19.970
6414
1,252.174,178
156.702 237
3.063143
1,807
1.193
810820,920
64 763.927
1 129.502
4310
1.241
224.706892
24.992,105
693,236
289
190
16,077.020
3,817762
90,539
860
284
157 041898
52671 763
672.802
1.414
472
3.185049
1.866.078
1 75.653
7 899
2.494
27.977 339
6.985.237
-289.171
2.391
540
12.365.060
1.605.365
390.562
Members ol brothersisler groups
Number ol reiurns
Total assets
Toiai receipts
Net income (less delicit)
51953
26 278.218
6145788
438312
319
5.232.613
358.189
23.111
5,262
2412,265
276.464
13.655
346
322 929
75,325
6,800
447
2.206.810
809.986
44,962
2,881
435.771
995.828
14 933
36.393
13.808286
3.372.718
259.111
6.305
1.859.544
257.276
75.740
Members ol combined parenlsubsidiary and brother sister groups
Number ol returns
Total assets
Total receipls
Nel income Hess delicit)
4,949
115 329619
22018,434
725,029
218
81650 997
4.417059
498 504
800
9.341.740
8.275.423
-17.938
45
631 740
256 042
14.316
95
15,466.526
7.159.037
192 176
156
261 348
160 265
9830
3.121
6 706.111
1.570 136
5651
524
1271 157
160.472
22.490
Members of controlled groups with relationship nol determinable
12,085
217
1.571
(•)
88
508
7895
1.796
Fooinoies al endoMable Seetenltor
184
Corporation Returns/ 1974
RETURNS OF MEMBERS OF CONTROLLED GROUPS, OTHER THAN FORM 1120-DISC
Table 34.— Number of Returns, Total Assets, Total Receipts, Net Income, Income Tax, and Selected Dividend Items, l>y Major Industry,
by Type of Return— Continued
[All figures are estimates based on samples— money amounts aie in thousands ol dollafs]
Typ« of return. Hem
Major industry— Continued
Hotets
and otner
lodging
places
Personal
services
Business
services
Auto repair
miscellaneous
repair
services
Amusement
and
recreational
services
Other
services
Nature ot
Business
not allocable
|6t)
I6«l
Total Returns ot Members of Controlled Groups
Other than Form 1t20-DISC
Numt)er ot returns
Numt>ef ot consolidated returns
Number of subsidiary corporations
Number ot I120S returns
Tolai assets
Total receipts -
Net income (less delicitl
Income tan
Distributions 10 slochnolders eicepi in own sloclr
Returns ot Members of Controlled Groups Other
Than Forms t120S and 1120-DISC
Relurns ol members ol controlled groups allocating one surtax
exemplKjn under Seclion 1561
Number of returns
Number of consolidated returns ,
Number ol subsidiary corporations - • -
lolal assets
Total receipts
Intragioup domestic dividends received qualifying for 100
percent deduction
Nel income (less deficit)
Income ta«
Distributions to stocl^hnlders except in own stock
Returns ol members ol controlled groups electing to use multiple surta«
exemplKlns under Sections 1562 and 1564
Number ol relurns
Total assets
Total receipis
Intragioup domestic divKlends quatitying lor transitional
deductions under Section 15&4(bl
Amount received
Amount deducted
Net income (less delicill
Income tax
Dislribulions to stochholders except m own stock -
Returns ol members ol controlled groups by type of relalionships
Members ot parent-subsidiary groups
Number of returns
Number ol consolidated returns
Total assels
Total receipts
Nel income (less deficit)
Members of brother-sister groups
Number 01 relurns
Tot^l assets
Total receipis
Net income (less deficit)
Members of combined parent-subsidiary and brother-sister groups:
Number ol iGtuins -..-...
Total assets
Total receipts
Net income (less delicil)
Members ol conlrolied groups with relationship not determinabfe
J2 53f
4.546
16-702
3.226
51 589 582
St. 738.097
1.486.797
925.780
391.150
26,287
4,526
16,661
44659,186
44,064,439
1,064,971
721,723
332,741
11,016
6,252,934
6765,999
427 063
204,057
37,834
8,760
3596
39,525,675
36,440,371
1 016,960
22134
5,679,536
7,616,175
240,915
2,295
3,649,050
4263,649
lt2,66f
2 065
122
f 56f
126
6 982 410
5 216 036
-31653
59,025
64,605
-24,116
54,257
64,247
549,477
450,924
f)
(•)
1-592
4,768
CI
5,329 711
3 896,607
-13,062
580 591
538,155
633,290
498,562
-3949
6,114
CI
2,214,954
3409167
176 382
86,233
25,453
2,616
239
1 041
1,716,504
2,490,266
124,563
62.446
23.694
1,266
493 330
895651
53,266
25,787
1,759
1,225,377
1,601,527
95,974
2,227
355,420
743,697
18,254
110
206,035
295,913
15251
1 192
15662
1 964
6,462
1308
18 195 024
16 634 130
642 300
346 288
166,510
10,753
1,964
6,462
15,563,328
15,859,832
419,165
243,230
144,862
2,552,254
2,800 384
7,650
7 121
231,235
103,058
19,402
4,028
t,5t2
f4,602249
f4 132,309
450,507
7,959
1,756,685
2,252,717
ft 1.34 f
1.037
1.166.739
1,560.053
31,483
1 530
CI
5 679 797
4 786,790
100815
71242
28,409
3,795
372
4,277,106
3,602,031
39,003
42748
18,326
2 441
1353513
1 061 270
57 183
26494
5629
1,012
350
3,175,244
2560,371
4,731
4,027
1,447,266
1,286,813
51,216
692,431
597,226
26670
4659
705
2,715
464
10 419,923
9,375,733
376339
219,459
73,640
2745
703
2,712
9 519 679
8492455
334 739
194,584
57,675
1650
684 181
650,875
47946
24 875
9742
1053
586
6 660 285
7,134470
323 729
2404
728,279
945910
28,479
650,700
862,377
27,383
566
6097 474
10 116,241
220614
141 533
32 533
6609
829
3,650
171,617
124,456
23,737
1 668
620 179
906695
35,621
17,075
CI
1,678
652
6532,809
7 093 087
155
4,637
811293
I 848,883
27,225
509
279,855
449,716
15,623
1253
426
24
46
C)
212590
307460
1535
4 022
(■)
1,151
3,869
C)
127,656
183 947
CI
(■)
CI
CI
CI
CI
CI
(') Estimate IS not shown separately because ot the smalt number ol sample returns on which it was based However, the data are included in the appropriate totals
'Includes Wholesale and retail trade not aflocable which is not shown separately
NOTE See text for Explanation ot Terms' and "Description ol the Sample and Limitations of the Data "
Section 3
Explanation
of Terms
The following explanations in-
clude definitions and limitations
of terms used, and adjustrents made
in preparing the statistics. These
explanations are designed to aid
the user in interpreting the sta-
tistical content of this report and
should not be construed as inter-
pretations of the Internal Revenue
Code, or related regulations, pro-
cedures, or policies. Code sec-
tions cited were those in effect
for 1974. Whenever a year is
cited, it refers to the calendar
year unless otherwise stated. Refer
to the index for reference to
specific items not separately
listed in this section.
Accounts Payable
Relatively short-term liabilities
arising from the conduct of trade
or business which were not secured
by notes of indebtedness were
generally included under this head-
ing. Nontrade payables, on the
other hand, were generally includ-
able in the estimates for "Other
Current Liabilities."
Banks and savings institutions
may have reported deposits and
withdrawable shares in accounts
payable. When these amounts could
be identified, they were trans-
ferred to "Other Current Liabili-
ties."
Additional Tax for Tax Preferences
This was a special tax ("minimum
tax") on excessive amounts of "eco-
nomic" income resulting from cer-
tain kinds of investments in excess
of "taxable" income and deductions
allowed under the Code which were
considered "tax preferences." A
discussion of each of the "tax
preferences" is included under "Tax
Preference Items" in this section.
For the most part, the 10 percent
tax was levied on the sum of a cor-
poration's "tax preferences" which
exceeded (1) a $30,000 exclusion,
(2) current year income tax reduced
by foreign tax credit. Investment
credit, and work incentive (WIN)
credit, and (3) tax carryover from
prior years (i.e., income tax after
credits, of the 7 preceding years,
not used as an offset to the tax
preference items).
In general, all corporations were
liable for the additional tax.
However, regulated investment com-
panies and real estate investment
trusts were subject to the tax only
on amounts attributable to tax
preferences not passed through to
their stockholders. Small Business
Corporations electing to be taxed
through their stockholders were
liable for the additional tax only
on certain capital gains. (Because
the incidence of such capital gains
was low, there were no returns in
the StajtiiticA Ojj Income sample
for igylJ that showed this tax.) In
addition, members of a controlled
group of corporations filing
separate returns were required to
apportion a single $30,000 statu-
tory exclusion among the members
of the group either equally or
based on a plan adopted for all
members. However, members that
were Domestic International Sales
Corporations (CISC's) were not
subject to the additional tax for
tax preferences.
The computation of the tax for
returns other than Form 1120S is
shown in detail on a facsimile of
Form 4626 in section 5. In brief,
the computation went as follows:
(1) All tax preference items were
totaled.
(2) From this total, the $30,000
"statutory exclusion" was subtract-
ed.
(3) "Total items of tax prefer-
ence less statutory exclusion" were
next reduced by "Income tax avail-
able as an offset, current year"
and then by "Income tax available
as an offset, carryover." The
"current year" tax was the sum of
(a) normal tax, surtax, and alter-
native tax after foreign tax, in-
vestment and work incentive (WIN)
credits, and (b) tax from recom-
puting prior-year investment and
work incentive (WIN) credits. By
law, the "carryover" tax repre-
sented any tax not usable for the
tax preference reduction in prior
years because it was in excess of
the effective amount; excess
amounts were to be carried forward
for use over a 7-year period.
(Even though the current year and
carryover tax amounts shown in the
statistics are totals, they are
understated because some corpora-
tions included in the tax reduc-
tion only enough to equal total
tax preferences after the $30,000
exclusion and other corporations
did not report these amounts at
all when total preferences were
offset completely by the
exclusion. )
O) "Tentative additional tax
for tax preferences" was computed
by multiplying "Total tax prefer-
ences less statutory exclusion and
tax used as an offset" by 10 per-
cent.
(5) The tentative additional tax
was reduced by the lesser of 10
percent of the "Net operating loss
for 1971 remaining as a carryover
to a succeeding year" or the amount
of tentative additional tax; this
amount is shown as "Deferred ad-
ditional tax for tax preferences."
If the corporation had a net
operating loss for 197't available
as a carryforward to future years,
the corporation was allowed to
defer the additional tax until the
net operating loss was used to
reduce net income in future years.
When this net operating loss was
deducted from net income, addi-
tional tax which had been deferred
because of the net operating loss
became due.
(6) Finally, "Additional tax for
tax preferences" was the sum of
"Tentative additional tax for tax
preferences" reduced by "Deferred
additional tax for tax prefer-
ences" that resulted from prior-
year net operating losses, plus
the "Additional tax for tax
preferences deferred from prior
years."
Advertising
Advertising expenses were allow-
able as a deduction under Code
section 162, if they were ordinary
and necessary and bore a reason-
able relation to the trade or busi-
ness of the corporation. The
amount shown in the statistics
includes advertising identified as
a cost of sales and operations as
well as advertising separately
identified as a business deduction.
The types of expenditures cov-
ered by the advertising deduction
may have varied somewhat from com-
pany to company and a few compa-
nies did not separately identify
185
186
Corporation Returns/1974 . Explanation of Terms
advertising when it was included
in the cost of sales and opera-
tions. In addition, certain kinds
of advertising expenditures, such
as for billboards, were capital-
ized and recovered only as part of
depreciation. For these reasons,
a more definitive explanation of
the advertising deduction statis-
tics is not possible.
Allowance for Bad Debts
Most corporations identified on
their balance sheet the allowance
or reserve set aside to cover
uncollectible or doubtful notes,
accounts, and loans as an adjust-
ment to notes and accounts re-
ceivable. A few corporations,
however, reported only net re-
ceivables and thus did not show
the allowance for bad debts. In
addition, tax return balance
sheets used by Domestic Interna-
tional Sales Corporations
(Disc's), and life and certain
mutual insurance companies did not
require the allowance to be re-
ported. Both the statistics for
the allowance and for the gross
amount of notes and accounts
receivable would therefore be
understated by these unidenti-
fiable amounts.
Since corporation tax return
balance sheets did not provide for
the separate reporting of reserves
for uncollectible mortgage and
real estate loans, many banks and
savings and loan associations may
have included the item in the al-
lowance for bad debts. If, on the
other hand, these reserves were re-
ported in supporting schedules,
they were later added to the allow-
ance for bad debts during statis-
tical editing.
Amortization
Amortization was a deduction for
recovery of certain expenditures
over a certain period of time in a
manner similar to straight-line
depreciation. Typically, the
period of time over which the
expenditure was written off was
much shorter than if depreciation
had been used; often, depending on
the specific provision of the law,
the period of time was only 60
months. The following types of
amortization, applicable to the
statistics in this report, were
specifically mentioned in the Code
as allowable deductions:
bond premiums (section 171)
child care facilities (section
188)
coal mine safety equipment
(section 187)
lessee's improvements to leased
property (section 178)
on-the-job training facilities
(section 188)
organization expenditures of
corporations (section 248)
pollution control facilities
(section 169)
railroad rolling stock (section
184)
railroad tunnel bores and
grading (section 185)
research and experimental
expenditures (section 174(b))
trademark and trade name
expenditures (section 177)
Of these, amortization of lease-
hold improvements was frequently
reportable as depreciation and
amortization of bond premiums (as
well as of such other financial
items as loan or mortgage costs)
was often reported as part of
"other deductions." Write-offs of
patents, copyrights, and other
intangibles were usually included
in depreciation. None of these
amounts involved rapid write-offs
of the assets concerned. There-
fore, in order to confine the
statistics insofar as possible to
rapid write-offs, identifiable
amounts reported as amortization
that related to leasehold improve-
ments, bond premiums (or other
financial items), and intangible
assets, and, in addition, to de-
preciable assets other than those
eligible for rapid amortization,
were transferred to depreciation
or "other deductions," as appro-
priate. (See also, "Depreciation"
and "Other Deductions.")
Amortization of certified pollu-
tion control facilities, of rail-
road rolling stock, of on-the-job
training facilities and child care
facilities were considered tax
preference items. The excess of
these special rapid write-offs
over what otherwise would have
been depreciation deductions under
Code section 167 constituted a
portion of the base (after adjust-
ments) upon which the additional
tax for tax preferences was lev-
ied. (See also, "Tax Preference
Items.")
Annual Returns
Annual or calendar year returns
were those filed for the twelve-
month period beginning in January
and ending in December. Most of
the larger corporations filed for
this period. Chart 1 in section 1
shows the percentage of returns
filed for each of the accounting
periods covered in this report.
Bad Debts
Bad debts occurring during the
year, or a reasonable addition to
an allowance or reserve for bad
debts, were allowable as a deduc-
tion under Code section 166.
Coinnercial banks, mutual savings
banks, savings and loan associa-
tions, small business investment
companies and other financial in-
stitutions were permitted to take
a deduction for a reasonable addi-
tion to their bad debt balance
which was far greater than that
allowed other businesses. Unlike
other businesses, which could
deduct additions to their reserves
only to the extent justified by
their actual loss experience,
these financial institutions could
elect to increase their reserves
based on percentages of outstanding
loans. However, certain restric-
tions were introduced in 1969 to
begin to bring these institutions
in line with other businesses.
For commercial banks, beginning
with 1969, deductible additions to
the reserves were to decrease in
three transitional steps. These
steps were to be completed by
1988, at which time the deduction
would have to be based on actual
losses for the current and 5
preceding years, the same as for
other businesses. The first tran-
sitional step, for years before
1976, reduced the percentage for
eligible loans outstanding used as
the basis for the deduction from
2.4 to 1.8 percent. For small
business investment companies,
deductions for additions to the
reserves, using an industry aver-
age as the norm, were permitted
during the first 10 years of the
company's existence. Thereafter,
additions to the reserves had to
be based on their own experience.
For mutual savings banks, savings
and loan associations, and cooper-
ative banks, the deduction was
based on a percentage of an ad-
justed taxable income figure
before reduction by the bad debt
deduction, provided it did not
increase the reserve beyond 6
percent of qualifying loans. The
percentage was to decrease from 60
to 40 over a 10-year period, in
general, starting with 1970. For
1974, the percentage was 47.
For banks and other financial
institutions, corporate or gov-
ernment debts evidenced by certain
bonds which became worthless during
the year were chargeable as bad
debts under Code section 582. For
other corporations, such losses
were subject to the special
capital gain or loss provisions of
the law.
Recoveries of bad debts pre-
viously deducted by corporations
were generally netted against the
year's bad debts deduction. How-
ever, amounts of recovered bad
debts reported by corporations as
an income item were to be included
in "Other Receipts."
Corporation Returns/1974 . Explanation of Terms
187
Business Receipts
Business receipts were, in gen-
eral, the gross operating receipts
of the corporation reduced by the
cost of returned goods and allow-
ances.
Business receipts included rents
reported as a principal business
income by real estate operators
and by certain types of manufac-
turing, public utility, and
service corporations. The latter
corporations included manufac-
turers that frequently rented
products rather than sold them,
such as automatic data processing
equipment; lessors of public
utility facilities, such as docks,
warehouses, and pipelines; and
companies engaged in rental
services, such as the rental of
automobiles or clothing.
Some corporations treated sales
taxes and excise and related taxes
which were included in the sales
P'-ice of their products as part of
their gross receipts from sales;
others reported their receipts
after adjustment for these taxes.
When treated as receipts, sales
taxes and excise and related taxes
were deducted on the tax return as
part of the cost of sales and
opera- tions or were included in
the separately itemized deduction
for taxes paid. In any case, the
receipts as reported by the
taxpayer were included in the
statistics. See also, "Cost of
Sales and Operations" and "Taxes
Paid."
In the finance, insurance, and
real estate division, business
receipts included such banking
items as fees, commissions, trust
department earnings, exchange col-
lections, discounts, and service
charges, when identified in sched-
ules attached to the return.
Business receipts also included
interest which was not separately
identified. (Interest, the
principal operating income of
banking and savings institutions,
is shown separately in the statis-
tics under "Other Interest" and is
therefore excluded from business
receipts.) Special statistical
treatment was required for the few
banking institutions which traded
certain securities "on their own
account" and which reported the
purchase and sale of the securi-
ties as part of cost of sales and
operations and business receipts,
respectively. For the statistics,
the amount paid by the banking
institutions for these securities
was excluded from the cost of
sales and operations and a corre-
sponding amount was excluded from
business receipts.
Also in the finance, insurance,
and real estate division, premium
income of most insurance companies
was included in business receipts.
However, certain mutual insurance
companies with total receipts of
less than $500,000 were not
required to report premium income.
Therefore, total business receipts
for insurance carriers are slightly
understated.
Generally, in the finance, insur-
ance, and real estate division,
income from investments, when iden-
tified in schedules attached to
the return, was allocated to one
of the specific types of invest-
ment income for which statistics
are shown separately. Rent or
cooperative apartment assessments
reported by real estate operators,
however, were accepted as business
receipts.
Business receipts reported by
stock and commodity brokers,
dealers, and exchanges, and by
real estate subdividers, devel-
opers, and operative builders,
required special statistical
treatment. For these operations,
net profit or loss from the sale
of stocks, commodities, or real
estate when identifiable, was allo-
cated to the statistics for net
gain or loss from noncapital
assets. If the corporation
reported both business receipts
and cost of sales and operations
without identifying the source,
and the cost of sales and oper-
ations was 50 percent or more of
the business receipts, the items
were considered to include stock,
commodity, or real estate trans-
actions and only the net gain or
loss was used for the statistics.
Otherwise, business receipts for
these companies were used as
reported and included commissions
and service fees.
In addition to the income types
described above which were
uniquely treated by law, by the
tax return, or for the statistics,
there were certain other kinds of
income from sales and operations
that are not reflected in business
receipts. In general, this income
was included as part of the much
broader category, sales of prop-
erty used in trade or business.
For additional information about
this income, see "Net Capital
Gains" and "Net Gain (or Loss),
Noncapital Assets."
For Domestic International Sales
Corporations (DISC's), business
receipts included only "qualified"
export receipts, i.e., the sum of
(a) gross receipts from noncom-
mission sales of export property,
leasing or renting of export
property, services related and
subsidiary to a qualified export
sale or lease, engineering and
architectural services, and export
management services, and (b) com-
missions earned by DISC'S acting
as commission agents for someone
else (rather than the gross
receipts on which the commissions
were earned). In other words,
"qualified" receipts were those
which were considered to be export
related and as such were the only
receipts included in the statis-
tics for business receipts.
Receipts not considered to be
export related (i.e., "nonqual-
ified" receipts) were included in
"Other Receipts."
Capital Stock
This end-of-year balance sheet
liability item included amounts
shown for outstanding ownership
shares of both common and
preferred stock.
Cash
This balance sheet asset item
included the amount of actual
money or instruments and claims
which were usable and acceptable
as money on hand at the end of the
taxable year.
For Domestic International Sales
Corporations (DISC's), this item
was the sum of the following ac-
counts shown separately on the tax
return: working capital (i.e.,
cash and necessary temporary
investments) and funds awaiting
investment (i.e., cash in U.S.
banks in excess of working capital
needed to acquire other qualified
assets) .
Compensation of Officers
Salaries, wages, stock bonuses,
and bonds were included in this
deduction item as well as other
benefits if they were identified
as having been paid to officers
for personal services rendered.
Understatement of this item was
possible to the extent compen-
sation was reported as part of
another deduction item (such as an
overall employee compensation
figure) and if not clearly identi-
fied was included in the statis-
tics for "Cost of Sales and
Operations" or "Other Deductions."
Consolidated Returns
Consolidated returns were income
tax returns which contained the
combined financial data of two or
more corporations meeting the fol-
lowing requirements: (1) a coitmon
parent corporation owned at least
80 percent of the voting power of
all classes of stock and at least
80 percent of each class of non-
voting stock (except stock which
was limited and preferred as to
dividends) of at least one member
of the group, and (2) these same
proportions of stock of each other
member of the group were owned
within the group.
188
Corporation Returns/1974 • Explanation of Terms
The filing of a consolidated
return for a parent corporation
and its subsidiaries constituted
an election of group reporting,
which, with certain exceptions,
had to be followed in subsequent
years. The consolidated filing
privilege could be granted to all
affiliated domestic corporations
connected through stock ownership
with a conmon parent corcoration
except: (1) regulated investment
companies, (2) real estate invest-
ment trusts, (3) corporations
deriving a large percentage of
their gross income from sources
within a U.S. possession, (4)
corporations designated tax-exempt
under Code section 501, (5) China
Trade Act corporations, and (6)
Domestic International Sales
Corporations (DISC's). Affiliated
insurance companies were allowed
to file a consolidated return if
they were taxable under the same
provisions of the Code; however,
noninsurance companies with which
they also may have been affiliated
could not be included in the same
return.
A consolidated return, filed by
the conmon parent company, was
treated as a unit, each statis-
tical classification being deter-
mined on the basis of the combined
data of the affiliated group.
Therefore, filing changes to or
from a consolidated return basis
affect year-to-year comparability
of the statistics. See also the
explanation of "Members of
Controlled Groups" in this section.
Constructive Taxable Income From
Related Foreign Corporations
This represented the sum of ( 1 )
"Includable Income from Controlled
Foreign Corporations," and (2)
"Foreign Dividend Income Resulting
from Foreign Taxes Deemed Paid."
Each of these items is discussed
under separate headings.
Contributions or Gifts
Contributions or gifts to char-
itable, religious, educational,
and similar organizations were
deductible under Code sections
170, 809, and 882. In general,
the deduction was limited to 5
percent of net Income computed
without regard to this deduction;
certain additional adjustments
were required In the case of life
insurance companies. Amounts con-
tributed in excess of this limita-
tion during the 5 preceding years
could be carried forward and
included in the current year's
deduction so long as the sum of
the current year contributions and
the amounts carried forward did
not exceed the limitation based on
current year income. The excess
was again carried forward until
the 5-year carryover period
expired. The amounts shown for
19Ti , therefore, include some
contributions actually made in
previous years, and exclude some
contributions made in 197'J which
exceeded the current year 5
percent limitation. These excess
contributions were then carried
forward.
Corporations Owned 50 Percent or
More by Another Entity
Domestic corporations directly
or indirectly owned 50 percent or
more by one stockholder based on
voting stock, were asked to so
indicate, to provide the
percentage of ownership, and to
report whether the owner was other
than a U.S. "person" and, if so,
the owner's country. (Code
section 267 set forth the rules
used to define direct and indirect
ownership. ) A "person" included
another corporation, or an
individual, partnership, estate or
trust. Some corporations failed
to answer all or part of the
question so that the total shown
for the number of returns
indicating 50 percent or more
ownership by a foreign entity may
be somewhat understated. The
question was not asked on Form
1120M filed by mutial nonlife
insurance companies and the Form
1120S filed by Small Bu.siness
Corporations electing to be taxed
through their stockholders.
Cost of Property Used for
Investment Credit
Amounts included under this
heading are estimates for the total
cost or basis of depreciable prop-
erty (defined in Code section HB
and described under "Investment
Credit") reported in connection
with the computation of the invest-
ment credit. The cost or basis
was the full cost or basis of
property with a useful life of 3
years or more (1 years or more in
the case of "pre-termination prop-
erty," also described under
"Investment Credit").
Although corporations generally
reported their investments at cost,
most corporations claiming the in-
vestment credit for leased prop-
erty used the fair market value
instead.
The statistics include amounts
reported but not used for the
computation of the Investment
credit. A limitation of $50,000,
for Instance, was placed on the
amount of used property which
could be taken into account in the
computation of the credit. Also
included were amounts which were
ultimately used in the computation
of the credit by the stockholders
of Small Business Corporations
which had made the election to be
taxed through those stockholders.
Prior to 1973, Small Business
Corporations were required to
attach a statement to their
returns showing the allocation of
investment to the stockholders by
amount, type, and life of prop-
erty. Beginning with 1973, Small
Business Corporations no longer
filed Form 3^*68, Computation of
Investment Credit, as other
corporations using the investment
credit provisions did, because the
credit was claimed by their stock-
holders. Instead, these corpora-
tions had to complete Schedule K
on their returns showing the allo-
cation to stockholders of cost of
property eligible for investment
credit.
Cost of Sales and Operations
Cost of sales and operations
generally included the direct
costs incurred by the corporation
in producing goods or providing
services. Included were costs of
materials used in manufacturing,
costs of goods purchased fc
resale, direct labor, and certain
operating expenses. Manufacturing
corporations with taxable years
beginning after September 18, 1973
were required to compute taxable
income in accordance with the "full
absorption" method of inventory
costing as prescribed by the
income tax regulations. Under
full absorption costing, in gen-
eral. Indirect production costs as
well as direct production costs
were allocated to goods produced
during the taxable yea"^, whether
Included as costs of the taxable
year or as inventory at the close
of the year determined in
accordance with the corporation's
method of identifying goods in
inventory. Thus, the statistics
also include certain indirect
production costs (such as repairs,
maintenance, and utilities)
reported by corporations as a cost
of sales. See the discussion in
section 1 .
Included in cost of sales were
costs incurred by Domestic
International Sales Corporations
(Disc's) for warehousing (which
could include rental warehouse
facilities, labor, heat and power)
of export related articles.
Operating expenses, considered
part of the cost of goods sold.
Included sales taxes and excise
and related taxes only if the
corporation treated these taxes as
part of the sales price of the
product. When these taxes were
identified in cost of goods sold
schedules, they were added to the
Corporation Returns/1974 • Explanation of Terms
189
statistics shown for the separate
deduction for "Taxes Paid." Simi-
larly, operating expenses for de-
preciation, depletion, amortiza-
tion, rent of buildings or real
estate, advertising, contributions
to pension plans, and contributions
to employee benefit programs,
whether direct or indirect costs
in the case of corporations with
manufacturing or production opera-
tions, were transferred to their
respective deduction categories
when identified in cost of goods
sold schedules.
The income or loss from sales of
securities, conmodities, or real
estate by stock and commodity
brokers, dealers, and exchanges,
and by real estate subdividers,
developers, and operative builders
was transferred from business
receipts, and the net profit or
loss from these transactions in-
cluded in net gain or loss from
sales or exchanges of noncapital
assets. Special statistical
treatment was also required for
the few banking institutions which
traded certain securities "on
their own account" and which
reported the purchase and sale of
the securities as part of cost of
sales and operations and business
receipts, respectively. For the
statistics, the amount paid for
these securities was excluded from
cost of sales and operations and a
corresponding amount was excluded
from business receipts. There-
fore, the cost of such sales was
excluded from the statistics.
Cost of Treasury Stock
This item was the total value of
issued cornnon or preferred stock,
which had been reacquired and was
held at the end of the accounting
year by the issuing corporation.
The stock, which was available
again for resale or cancellation,
may have been purchased by the
corporation or acquired through
donation or as settlement of a
debt. Treasury stock was not a
part of capital stock outstanding
and did not include unissued cap-
ital stock.
The amounts shown may be some-
what understated. Treasury stock
intended for resale may have been
reported as an asset on some tax
returns and if not clearly identi-
fied would have been included in
the statistics for "Other Invest-
ments." When identified though,
such stock was transferred to the
statistics for "Cost of Treasury
Stock."
Credit for Tax Paid by Regulated
Investment Companies
Regulated Investment companies
were required to pay a tax (at
capital gains rates) on amounts of
undistributed net long-term capi-
tal gain less net short-term
capital loss. Stockholder
corporations, for their part, were
required to include in the compu-
tation of their long-term capital
gains any such gains designated by
the parent as undistributed divi-
dends. The stockholder corpora-
tions were then deemed to have
paid the tax on the undistributed
long-term capital gain dividends
and were allowed a credit (or a
refund) for the tax they were
deemed to have paid. It is this
credit which comprises this item.
Credit for Tax on Special Fuels,
Nonhighway Gasoline and
Lubricating Oil
Section 39 of the Code allowed a
credit in full or in stated
amounts for excise taxes on:
(1) gasoline used on farms for
farming purposes,
(2) gasoline used for nonhighway
purposes or by local transit
systems ,
(3) lubricating oil used for
nonhighway purposes, and
(t) noncommercial aviation fuels
used for nontaxable purposes or
fuels which were resold during the
taxable year.
These taxes could be applied as
a credit against income tax
liability as an alternative to
having the taxes refunded directly.
This item also included amounts
refunded through Domestic
International Sales Corporations
(DISC'S) although these
corporations were nontaxable.
Depletable Assets
Depletable assets represented,
in general, the gross end-of-year
value of mineral property, oil and
gas wells, other natural deposits,
standing timber, intangible devel-
opnent and drilling costs capital-
ized, and leases and leaseholds,
each subject to depletion. Accum-
ulated depletion represented the
cumulative adjustment to these
assets shown on the corporation's
books of account. In some
instances, depletable assets may
have been included with "Depreci-
able Assets," or may have been
reported as "Land" or as "Other
Investments" by the taxpayer, and
could not be identified for this
report.
The value of depletable assets
and accumulated depletion may not
be closely related to the current
year depletion deduction. The
depletable assets and accumulated
depletion balance sheet accounts
reflected book values; the
depletion reflected the amount
claimed for tax purposes.
Depletion
This deduction was allowable for
the exhaustion of natural deposits
and timber. For standing timber,
depletion was computed on the
basis of cost. In the case of
natural deposits, the depletion
could be computed either on the
basis of cost or upon a fixed
percentage of the gross income,
less rents and royalties, from the
depletable property. Generally,
for gas and oil wells the gross
income was the actual sales price,
or representative market or field
price if the gas or oil was later
converted or manufactured prior to
sale. For other natural deposits,
gross income was the gross income
from mining, defined to include
extractive and certain treatment
processes. Also included as gross
income were exploration expend-
itures, previously deducted, that
were required, under certain pro-
visions of Code section 617, to be
recaptured when the mine reached
the production stage.
Percentage depletion, though
based on percentages of gross in-
come from depletable property, was
limited. It could not exceed 50
percent of the net income from the
property, computed without the
depletion deduction. Percentage
rateo of gross income for each type
of natural deposit are listed in
Code section 613 and range from 5
to 22 percent.
Under elective provisions of the
Code, exploration and development
expenditures connected with cer-
tain domestic natural deposits
(except gas and oil) could be
deducted currently, treated as
deferred expenses, or capital-
ized. The write-offs of amounts
deferred or capitalized were not
included as part of depletion.
The amounts shown in the statis-
tics include any identifiable
depletion reported as part of the
cost of sales and operations.
Depreciable Assets
Depreciable assets, reported on
the corporation's end-of-year
balance sheet, consisted of
tangible property (such as
buildings and equipment) which was
used in the trade or business or
held for the production of income
and which had a useful life of 1
year or more. The statistics for
this item could include fully
depreciated assets still in use
and partially completed assets for
which no deduction was allowable
when the corporation reported them
as depreciable in its balance
sheet. The statistics for
depreciable assets exclude those
intangible assets which were de-
preciable or amortizable only for
tax purposes. Such assets, patents
190
and copyrights for example, were
includable in intangible assets.
The araoLints shown as accumulated
depreciation represent the portion
of the assets that were written
off in the current year as well as
in prior years.
The amounts shown for depreciable
assets are, in general, the gross
amounts before adjustments for de-
preciation or amortization charged
in current and prior years. Some
corporations, however, reported
only the net amount of depreciable
assets after adjusting for these
depreciation or amortization
charges. Among the corporations
reporting only a net amount of
depreciable assets were many
insurance carriers reporting
balance sheet information in the
format required by State insurance
regulations. This format usually
provided for the reporting of only
net depreciable assets and only
the home and branch office build-
ings and equipment were included.
Other real estate holdings of
these corporations were reported
as "Other Investments."
The value of depreciable assets
and accumulated depreciation may
not be closely related to the cur-
rent year depreciation deduction.
The depreciable assets and
accumulated depreciation balance
sheet accounts reflected book
values; the depreciation deduction
reflected the amount claimed for
tax purposes.
Depreciation
Depreciation deducted as a
reasonable allowance for the
exhaustion, wear and tear, and
obsolescence of business property
was allowable under Code section
167. A deduction for depreciation
was not allowable on inventories,
or land apart from the physical
improvements or developments added
to it.
Several methods of computation
could have been used in determin-
ing the deduction for the year. A
common method was straight line,
whereby an equal amount of depre-
ciation is deducted in each year
of the useful life of the asset.
The declining balance and the sum
of the years-digits methods, where-
by a larger portion of the asset's
cost is written off during the
earlier years of its life than
during its later years, were also
conmonly used. Accelerated
methods of depreciation were
restricted for public utilities
and certain kinds of real property
beginning in 1959 .
Property lives could be based
either on the corporation's own
experience, asset by asset, or on
the Class Life Asset Depreciation
Range (CLADR) system which pro-
Corporation Returns/1974 • Explanation of Terms
vided for generally shorter than
average lives. See also, "Depreci-
ation under Class Life Asset Depre-
ciation Range CCLADR) system."
Amounts shown as depreciation
include any identifiable depre-
ciation reported as an operating
or manufacturing cost. Also
included in the statistics are
amounts deducted on leasehold
improvements, patents, and copy-
rights, as well as .small amounts
of additional first-year (Code
section 179) depreciation (limited
by law in the case of controlled
group members beginning with
taxable years ended on or after
December 1970). To comply with
the definition of depreciation
under the Internal Revenue Code,
so-called amortization on station
connections in the communications
industry and of capitalized film
production costs in the motion
picture industry reported
elsewhere in the return were also
included in the statistics.
Depreciation Under Class Life
Asset Depreciation Range (CLADR)
System
Starting with 1971, the CLADR
system was introduced as a new
method of depreciating assets
acquired during a given year.
This was an elective method that
enabled a corporation, on an
annual basis, to group eligible
assets into categories, called
guideline classes. The corpor-
ation was then allowed to depre-
ciate all assets in a class over a
prescribed period of time, called
a class life. The guideline class
included assets grouped, regardless
of their composition, according to
the industrial activity (broadly
defined) in which they were used.
However, in the case of certain
property types in general use, the
asset classifications cut across
industry lines.
The principal changes applicable
to corporations in 1971 were as
follows:
(1) New asset classes and lives
were prescribed for assets used:
(a) to provide recreation and
entertainment services in bowling
alleys, billiard and pool parlors,
theaters, concert halls, and
miniature golf courses,
(b) to provide rides,
attractions, and amusements in
amusement-type parks, including
accessory and support facilities
if owned by the park, such as
lodging and eating facilities and
land improvements, and
(c) to produce electricity,
for sale, by use of such prime
movers as combustion turbines, and
internal combustion engines that
were jet, diesel and gasoline
powered.
(2) Extant classes were
modified to include assets used to
transmit, distribute, and produce
electricity generated by
hydraulic, nuclear, and steam
means .
For most assets, class lives
could be increased or decreased by
up to 20 percent at the corpora-
tion's option and use of them was
unrelated to past replacement and
retirement practices. This range
was not allowed in the case of
buildings, land improvements, or
assets used outside the United
States. Within a class, assets
could be further grouped into one
or more "vintage accounts"
depending, for example, on the
depreciation method used, or in
order to separate depreciable real
property from all other depreci-
able property.
In computing the depreciation
deduction under the CLADR system,
salvage value was not considered
although no "vintage account"
could be depreciated below a
reasonable salvage value.
In using the system, corpora-
tions had a choice between assum-
ing all acquisitions in a year
were placed in service at the
beginning of the second half of
the taxable year, or that all
aquisitions in the first half of
the year were placed in service at
the beginning of the year and all
acquisitions in the second half of
the year were placed in service at
the beginning of the following
year. The subsequent year's
depreciation was computed as if
all acquisitions were made at
mid-year.
There were certain limitations
and exceptions in using the CLADR
system. Although all corporations
could use CLADR, public utilities
using accelerated depreciation
methods could do so only if the
resulting tax benefit was used as
a source of working capital and
not as a means of lowering rates
to consumers. Also, certain
property types could be excluded
from the CLADR system, for exam-
ple, used property (under special
conditions). Other types were
required to be excluded, for exam-
ple, property for which there was
no appropriate class, property for
which depreciation was not based
on the useful life concept, and
property for which 60-month rapid
amortization had been elected in
lieu of depreciation.
Additionally, certain other pro-
perty was excluded from the CLADR
system under special provisions for
real property and "subsidiary
assets" (i.e., special tools such
as jigs, molds, returnable contain-
ers, glassware, textile mill cam
assemblies, and other equipment,
which were specifically designed
to produce or process particular
Corporation Returns/1974 • Explanation of Terms
191
products, that could no longer be
used after the particular products
were modified) placed in service
during the 3-year period, 1971-73,
unless the Treasury could study
and decide earlier whether their
inclusion under the CLADR system
was appropriate. All or part of
the depreciable real property
under section 1250 was excludable
if a useful life shorter than that
authorized by the 1962 Depreciation
Guidelines was justified. Also
excludable was all depreciable
section 1215 property (principally
machinery and equipment) which
included a significant portion of
subsidiary assets for which there
was a separate class under the
1962 Depreciation Guidelines.
This exclusion from the system
applied if shorter lives were
justified and if subsidiary assets
comprised at least 3 percent of
the aggregate cost or unadjusted
basis of the year's acquisitions
in a given class. However,
beginning with 1973, many types of
subsidiary assets were incorpo-
rated into the CLADR system
for the first time in new revenue
procedures which were first
applicable to property placed in
service after December 31, 1973-
One of the new procedures was first
applicable to property placed in
service prior to January 1, 1971,
and included motor vehicle manufac-
turing subsidiary assets such as
jigs, dies, fixtures, molds,
patterns, gauges, and specialty
transfer and shipping devices.
Another was first applicable to
property placed in service after
December 31, 1973, and included
these same subsidiary assets if
used to manufacture finished
locomotives and railroad cars.
New shortened class lives were
prescribed for a new group of
subsidiary assets covering special
tools and the definition of
subsidiary assets was broadened to
include service assets that became
eligible for the CLADR election in
1971. In addition to jigs, dies,
fixtures, molds, patterns, gauges,
and specialty transfer and shipping
devices, subsidiary assets, special
tools, were defined to include man-
drels, lasts, returnable contain-
ers, specialty containers, pallets,
shells, and tire molds and acces-
sory parts used by corporations to
manufacture products made of glass,
rubber, fabricated metal, and
miscellaneous finished plastic.
These assets were also included if
used by ship and boat builders and
manufacturers of primary ferrous
metals, primary nonferrous metals,
metalworking machinery, other
machines, and electrical equipment.
For food and beverage manufac-
turers, these assets were special
handling devices such as return-
able pallets, palletized contain-
ers, and fish processing equipment.
Under the new shortened class
lives, these assets could be depre-
ciated over periods that ranged
from 2 to 3 years for glass
products, to 5 to 8 years for ship
and boat building and other
machines.
Subsidiary assets that were
service assets comprised assets
that tend to wear out, break, or
disappear much faster than other
assets. Such assets were prima-
rily used by corporations engaged
in wholesale and retail service
and personal and professional
services. Glassware, silverware
including kitchen utensils,
crockery, and linens were among
the assets considered service
assets. These assets could be
depreciated over a 2 to 3 year
period.
In conjunction with the CLADR
system, depreciation of assets
placed in service prior to 1971
could be placed under a special
guideline Class Life System (CLS)
on an elective basis as an alter-
native to computing depreciation
based on the corporation's own
experience. The CLS consisted of
the CLADR classes and lives but
without the 20 percent "anges
associated with them. This system
could be used regardless of
whether the corporation had pre-
viously elected to use the Depreci-
ation Guidelines in connection with
pre-1971 acquisitions under Revenue
Procedure 62-21. This previous
procedure also encompassed the
class life concept, but the lives
(and any departures from them) had
to be justified based on replace-
ment and retirement practices
using the depreciation "reserve
ratio test." The CLADR (and CLS)
systems thus replaced and super-
seded the 1962 Depreciation
Guidelines.
Distributions to Stockholders
Distributions to stockholders
consisted of the corporation's own
stock, and of cash and other
property, generally reported as
part of the analysis of unappropri-
ated retained earnings. Liqui-
dating dividends, when identified,
were excluded.
In those instances where a
corporation reported only a single
total for distributions to stock-
holders and did not identify this
distribution as cash or stock or
other property, that total was
treated as a distribution to
stockholders in cash and property
other than in the company's own
stock.
Regulated investment companies
and real estate investment trusts
could treat certain dividends paid
after the close of their taxable
year as distributions during the
current taxable year. In a
similar manner, for Small Business
Corporations electing to be taxed
through stockholders, distribu-
tions of money made within 2—1/2
months after the close of the
taxable year were considered to be
distributions of the corporation's
undistributed taxable income of
the preceding taxable year.
Otherwise, the statistics do not
include amounts taxed but not
actually distributed to stock-
holders in 1971. Conversely, the
statistics do include amounts
taxed through stockholders in
previous years but not distributed
until 1974.
For Domestic International Sales
Corporations (DISC's), only amounts
actually distributed (i.e., distri-
butions that were made to meet the
DISC qualification requirement
under Code section 992, including
"deficiency distributions" made
after the close of the taxable
year to avoid disqualification as
a DISC, or other actual
distributions) were included in
the statistics. Those dividends
not actually distributed, i.e.,
amounts deemed distributed under
section 995, were excluded.
Dividends Received From Domestic
Corporations
Dividends received from domestic
corporations represented most
distributions from current as well
as accumulated earnings and pro-
fits of companies Incorporated in
the United States. For the most
part, dividends received from
domestic corporations included
those recognized in computing the
special deduction from net income
for domestic intercorporate
dividends received. (See
"Statutory Special Deductions" in
this section. )
Certain domestic dividends,
although not deductible, were
nevertheless included in dividends
received from domestic corpora-
tions. They were dividends
received by regulated investment
companies, real estate investment
trusts, and Small Business Corpora-
tions electing to be taxed through
stockholders. Additionally, divi-
dends from Domestic International
Sales Corporations (DISC's) were
included as domestic dividends
received but were not deductible.
Certain other dividends, not
deductible, were treated for the
statistics as "Other Receipts."
For most of the domestic divi-
dends received, the deductible
portion was equal to 85 percent
(about 60 percent for dividends
received on certain public utility
stock). However, a 100 percent
deduction was allowed for divi-
dends received by members of a
192
Corporation Returns/1974 . Explanation of Terms
controlled group from other
members of the same controlled
group. This deduction was allowed
when the group did not elect to
file a consolidated return and
agreed instead to apportion a
single surtax exemption among the
group members. For members of
controlled groups electing
multiple 3u"tax exemptions under
section 1562 which had made that
election prior to April 23, 1969,
the deductible portion increased
fr-om 85 percent to 87.5 percent
for those returns including
December 31, 1970, to 90 percent
for those returns including
December 31, 1971, to 92.5 percent
for those returns including
December 31, 1972, to 95 percent
for those returns including
December 31, 1973, and to 97.5
•percent for those returns
including December 31, 1974. For
other electing members, the rate
remained at 85 percent. This
increase corresponded to the
gradual elimination of the multi-
ple surtax exemptions for these
groups.
Dividend distributions among
member corporations electing to
file a consolidated return were
eliminated from the statistics as
part of the consolidated reporting
of tax accounts. For tax purposes,
dividends reported on these returns
represented amounts received from
corporations that were outside the
tax-defined affiliated group.
Dividends Received From Foreign
Corporations
These dividends were paid from
current as well as accumulated
earnings and profits of companies
incorporated in foreign countries.
Dividends received from foreign
corporations included:
(1) dividends, subject to the 85
percent deduction, received by
U.S. corporations from those
foreign corporations at least 50
percent or more of whose gross
income was effectively connected
with business conducted in the
United States,
(2) dividends, subject to the
100 percent deduction, received by
U.S. corporations from wholly-
owned foreign subsidiaries all of
whose gross income was effectively
connected with the conduct of U.S.
trade or business, and
(3) any other foreign. dividends,
not subject to a deduction, which
included —
(a) minimum distributions
of Controlled Foreign Corporation
profits under subpart F of the
Internal Revenue Code,
(b) certain gains from the
sale, exchange, or redemption of
Controlled Foreign Corporation
stock ,
(c) foreign dividends
received by Small Business
Corporations electing to be taxed
through stockholders,
(d) dividends (deemed or
actual) received from Domestic
International Sales Corporations
(DISC'S) were treated as if they
were foreign dividends to the
extent the dividends were
attributable to certain export
receipts.
Excluded from the dividend
statistics was the "gross-up" of
foreign taxes paid or deemed paid
on the profits from which the
dividends of subsidiaries
incorporated in "developed"
cour^ries were distributed. This
was done even though "Foreign
dividend income resulting f'-om
foreign taxes deemed paid"
(gross-up) was considered by law
to be part of the dividends
received. Dividends only
constructively received from
foreign subsidiaries, reported on
the tax returns as "Includable
income from Controlled Foreign
Corporations," were also excluded.
If these amounts were actually
distributed at a later date, they
were neither retaxed nor reported.
For the statistics, both items
were combined and shown under
"Constructive taxable income from
related foreign corporations."
Table 11, however, shows them
separately.
The foreign dividend statistics
presented in this report are
subject to certain limitations.
They may be somewhat understated
because some corporations reported
certain foreign dividends as
"Includable income from Controlled
Foreign Corporations," since both
were reported in the schedule for
dividends received. When identi-
fied, these amounts were treated
as foreign dividends for the
statistics. Also, some corpora-
tions included as foreign divi-
dends the gross-up of dividends by
foreign taxes paid or deemed paid
("Foreign dividend income
resulting from foreign taxes
deemed paid"), while others did
the reverse. Where these varia-
tions in taxpayer reporting were
identified, the amounts were
transferred to the correct item
for the statistics.
Domestic International Sales
Corporation Returns
Form 1120-DISC, Domestic
International Sales Corporation
Return, was filed by corporations
which were established under the
Revenue Act of 1971 as a means of
encouraging the exportation of
U.S. goods and services.
A system of tax deferral for
DISC'S and their stockholders
(mainly other corporations) was
provided and in addition, the
profits of a DISC were not taxed
to the DISC but were taxed to the
stockholders of the DISC when
distributed or deemed to be
distributed. In general, the
stockholders of a DISC were deemed
to receive an annual dividend
equal to one-half of the DISC'S
taxable income. This deemed
distribution was fully taxable to
the stockholders even if the
earnings were not actually
distributed. Federal income taxa-
tion was deferred on the one-half
of the DISC'S taxable income which
was not deemed distributed until
one of the following events
occurred: the income was actually
distributed to the DISC'S stock-
holders; a stockholder disposed of
the DISC stock; the DISC was
liquidated; or the election to be
treated as a DISC was terminated
or revoked.
Corporate stockholders receiving
DISC dividends were not permitted
the intercorporate dividends
received deduction. The dividends
received deduction was designed to
prevent multiple taxation of
corporate earnings; consequently,
as a DISC itself was not subject
to taxation the dividends received
deduction was not applicable.
Dividends (deemed or actual)
paid by a DISC were treated as
dividends from a foreign
corporation to the extent the
dividends were attributable to
certain export receipts of the
DISC. Thus, all stockholders
could claim a foreign tax credit
for any foreign taxes imposed on a
DISC dividend.
To qualify as a DISC, a corpora-
tion must have been organized under
the laws of any State or the
District of Columbia, have only
one class of stock, issue
outstanding capital stock with a
par or stated value of at least
$2,500, and satisfy the "gross
receipts" and "gross assets" tests.
The gross receipts test required
that at least 95 percent of the
corporation's gross receipts
consist of "qualified export
receipts." "Gross export receipts
of DISC" in the statistics were
from the sale, lease, or rental of
property held primarily for these
purposes during the ordinary
course of business, and income
from all other sources. In the
case of commissions, gross
receipts meant the total receipts
on the sale, lease, or rental of
property on which the commission
was earned. In the case of gain
or loss from the sale of assets,
gross receipts meant the amount of
net gain or loss. In general,
qualified export receipts were
receipts from the sale, lease,
rental, or other disposition for
Corporation Returns/1974 • Explanation of Terms
193
use outside the United States of
"export property," or from the
furnishing of services related and
subsidiary to the sale or lease of
export property. Also included
were amounts of interest on
obligations which were "Qualified
export assets" and "Qualified
dividends" which consisted of
dividends and "Includable income
from Controlled Foreign
Corporations," in this case
"Related foreign export
corporations." (All other divi-
dends and "Includable income from
Controlled Foreign Corporations"
were classified as "Nonqualified
dividends.") "Export property"
was defined as property manufac-
tured, produced, grown or
extracted in the United States.
Receipts from exports subsidized
by the U.S. Government or exports
intended for use in the United
States did not qualify as export
property. A DISC could not engage
in producing, growing, or
manufacturing export property.
For statistical presentation,
the sum of "Total qualified export
receipts" and "Total nonqualified
receipts" was adjusted to equal
"Total receipts" as follows:
total qiBlified and nonqualified
export receipts were increased by
the "Interest on State and local
Government obligations: and the
"Net loss, noncapital assets" and
were decreased by the "Includable
income from Controlled Foreign
Corporations" to equal total
receipts. These adjustments are
shown in table 30, which shows
items unique to the DISC return.
Many of these items were combined
for the standard presentation
contained in table 31.
The gross assets test required
that at least 95 percent of the
corporation's assets be qualified
export assets. In general, quali-
fied export assets were inven-
tories of export property;
necessary operational equipment
and supplies; trade receivables
from export sales (including
commissions receivable);
producer's loans (i.e., loans of
the DISC'S profits to a U.S.
export producer whether or not
related to the DISC); working
capital (i.e., cash and necessary
temporary investments);
investments in related foreign
export corporations (including
real property holding companies
and associated foreign corpora-
tions); obligations issued,
guaranteed, or insured by the
Export-Import Bank or the Foreign
Credit Insurance Association; and,
obligations of the Private Funding
Corporation.
A DISC which, for a taxable
year, failed to satisfy the gross
receipts test or the gross assets
test, thereby failing to qualify
as a DISC, could nevertheless
satisfy these qualification
requirements by making a
"deficiency distribution" for such
a year, whereby the DISC made a
distribution to its stockholders
after the close of the taxable
year. The DISC, at this time, had
to demonstrate that the failure to
make these distributions prior to
the actual date made was due to
reasonable cause.
Additionally, to qualify as a
DISC, a new or previously existing
corporation had to file an elec-
tion requesting to be treated as a
DISC. For the election to be
valid, all stockholders of the
corporation on the first day of
the election year must have
consented in writing. The elec-
tion remained valid unless the
corporation revoked it or failed
to qualify as a DISC for 5
consecutive years.
The types of corporate organi-
zations not eligible to be treated
as a DISC were: (1) tax-exempt
corporations; (2) Personal Holding
Companies; (3) banks and trust
companies; (Ij) mutual and savings
banks, domestic building and loan
associations, and cooperative
banks; (5) insurance companies;
(6) regulated investment
companies; (7) China Trade Act
corporations; and (8) Small
Business Corporations electing to
be taxed through their stock-
holders.
A DISC usually acquired export
property from its parent or an
affiliated corporation ("related
suppliers") and then sold the
property abroad; however, it could
act simply as a commission agent
on export sales of related
suppliers. The method used for
allocating income between a DISC
and its related suppliers was
therefore an important part of the
DISC statute. The allocation was
achieved through special intercom-
pany pricing rules.
The allocation of income between
a DISC and its related suppliers
was affected to the extent the
DISC itself incurred "export
promotion expenses" (i.e., the
ordinary and necessary expenses
incurred to obtain qualified
export receipts). In general,
export promotion expenses included
market studies; advertising;
salaries and wages of sales,
clerical and other personnel;
rentals; sales commissions;
warehousing (which could include
rental warehouse facilities,
labor, heat and power) and other
selling expenses; and, one-half of
the freight expenses (not includ-
ing insurance) for shipping export
property aboard airplanes owned
and operated by U.S. persons or
ships documented under the laws of
the U.S. in those cases where law
or regulations did not require
that the property be shipped
aboard such airplanes or ships.
Not included were interest
expenses, income or franchise
taxes, the cost of assembly
operations or any expenses which
did not directly or indirectly
further the distribution of export
property for use abroad. Also
excluded were intercompany
transactions in which the DISC
contracted with an affiliate for
export services to be rendered to
it.
For any taxable year in which a
corporation was a DISC or in which
at any time it owned, directly or
indirectly, stock in a DISC or
former DISC, the corporation was
not allowed to take the Western
Hemisphere Trade Corporation
deduction and was not entitled to
exclude income earned in U.S.
possessions which was otherwise
tax-exempt under Code section 931.
Employee Benefit Programs
Contributions made by employers
to such plans as death plans,
health or accident and sickness
plans, and other welfare plans,
were deductible under Code section
162. The statistics for this item
include amounts identified in the
cost of sales and operations
schedules.
Excluded were deductions claimed
for employer contributions to
pension plans and certain other
deferred compensation plans within
the scope of Code section t^0^ .
(See "Pension, Profit-Sharing,
Stock Bonus, and Annuity Plans.")
For years prior to 1971 this
item was entitled "Other Employee
Benefit Plans."
Estimated Tax Payments
Estimated tax payments were
quarterly installments required if
a corporation's income tax
(including tax from recomputing
prior year investment and work
Incentive (WIN) credits and
additional tax for tax prefer-
ences) after foreign tax, invest-
ment, and work Incentive (WIN)
credits was reasonably expected to
exceed the sum of the exemption
from estimated tax under Code
section 6l5l and any payment
credits such as for the Federal
excise tax paid on special fuels,
nonhighway gasoline, and lubri-
cating oil. Estimated tax was the
excess of the expected tax over
the exemption.
The statutory exemption from
estimated tax was gradually
reduced from $100,000 in 1967 to
$40 in 1977. The reduction was to
be accomplished over two 5-year
periods, 1968 through 1972 and
1973 through 1977.
194
Corporation Returns/1974 • Explanation of Terms
During the first 5-year period,
the total exemption was the sum of
a "temporary exemption" plus a
"transitional exemption." The
temporary exemption during the
5-year period was $5,500 (equal to
the 22 percent normal tax on the
first $25,000 of taxable income).
The transitional exemption was the
difference between the original
$100,000 exemption and the $5,500
temporary exemption, decreased by
20 percent each year so that in
1968 it was $75,600 (80 percent of
the above difference) and so on,
until in 1972, when it became zero.
During the second 5-year period,
the total exemption was equal to
the $5,500 temporary exemption
reduced each year by 20 percent
until in 1976, when it was to
become zero. For purposes of the
1974 statistics, the total
exemption was either $4,400 (the
temporary exemption minus the
initial 20 percent for taxable
years beginning in 1973) or $3,300
(the temporary exemption minus an
additional 20 percent for taxable
years beginning in 1974).
Estimated tax payments shown in
this report may be somewhat less
than the legal maximum percentages
of tax due because, under the
provisions of Code section 6655,
certain tolerances were allowed in
the relationship of the install-
ment payments to the tax (for
example, a corporation was not
required to pay an estimated tax
greater than the amount of tax
liability for the previous year
provided that the corporation had
a tax liability for the previous
year) . Besides the limitations
based on law, payments shown in
the statistics may be slightly
understated because of taxpayer
reporting variations and the
inability to identify all of the
amounts from the tax returns.
Separate statistics are pre-
sented for 1974 estimated tax
payments, credit for overpayment
of prior year tax, quick refiinds
of estimated tax payments, and net
payments after refunds.
Foreign Corporations With U.S.
Business Operations
These were corporations
incorporated in a foreign country
which had Income "effectively
connected" with the conduct of a
U.S. trade or business. Most of
these foreign corporations filed
on Form 1120F. In addition, since
all life insurance companies,
domestic and foreign, were
required to file Form 1120L,
foreign life insurance companies
with income effectively connected
with a U.S. life insurance
business were also included in the
statistics. If any of these same
foreign corporations also had
income which was not effectively
connected with a U.S. business,
such income was not included in
the statistics.
Income "effectively connected"
with a U.S. business, in general,
covered all types of Income
atttributable to or generated by a
U.S. place of business even if it
was from foreign sources. All
deductions, attributable to
"effectively connected income"
were allowed, except for certain
charitable contributions which
were totally deductible regardless
of the "effectively connected"
rule. In addition, under certain
conditions, limited categories of
other income from foreign sources
were also included. These
comprised rents and royalties from
licensing businesses; certain
Income from banking, financing and
similar businesses; and certain
sales income attributable to U.S.
sales offices if the property sold
was for use abroad and an office
abroad was instrumental in making
the sale. However, dividend.
Interest, or royalty income from a
foreign subsidiary 50 percent or
more owned by the foreign
corporation receiving the income
was specifically excluded from
"effectively connected" income.
Also excluded was so-called
"Subpart F income" (see
"Includable Income from Controlled
Foreign Corporations") since this
income was deemed distributed to
U.S. parent corporations and was
thus already subject to tax once.
Foreign Dividend Income Resulting
From Foreign Taxes Deemed Paid
Foreign dividend income result-
ing from foreign taxes deemed paid
related to certain foreign taxes
on profits of companies which were
(a) 10 percent or more owned by
domestic corporations and (b)
Incorporated In "developed coun-
tries" (defined In Code section
955). If dividends were distrib-
uted to a domestic corporation
(from these foreign profits), the
domestic corporation was required
to increase (or "gross-up") such
dividends by a proportionate
amount of the foreign taxes deemed
paid on the foreign profits for
which the domestic corporation
claimed a foreign tax credit. See
also, "Foreign Tax Credit."
Analysis of returns of some of
the lai'ger corporations revealed
instances where amounts reported
as foreign dividend income result-
ing from foreign taxes deemed paid
were actually dividends received
from foreign corporations, and
instances where amounts reported
as dividends received from foreign
corporations were actually the
gross-up of foreign taxes paid or
deemed paid. (Both of these items
were reportable on the dividends
received schedule on the return.)
If these amounts were so identi-
fied on supporting schedules they
were transferred to the correct
item for the statistics.
For all tables except table 11,
foreign dividend Income resulting
from foreign taxes deemed paid is
combined with includable income of
Controlled Foreign Corporations
and shown under the statistics for
"Constructive Taxable Income from
Related Foreign Corporations."
Table 11 shows the items
separately.
Foreign Tax Credit
Code section 901 allowed a
credit against the U.S. income tax
for income, war profits and excess
profits taxes paid or accrued to
foreign countries or U.S. posses-
sions. Credit was also allowed
against the U.S. tax under sec-
tions 902 and 960 for foreign
taxes "deemed paid."
The credit could be claimed by
domestic corporations, and also by
foreign corporations engaged in
trade or business in the United
States, for foreign taxes on
Income effectively connected with
the U.S. business. The credit was
not allowed though, for Small
Business Corporations electing to
be taxed through stockholders even
when these corporations were taxed
on certain capital gain income.
Since Domestic International Sales
Corporations (DISC's) themselves
were not taxable, foreign tax
credit was not applicable;
however, DISC stockholders could
claim a credit for foreign taxes
paid by a DISC.
When the foreign tax credit was
claimed, the alternative, a
business deduction for foreign
taxes, could not be used in
computing taxable Income. The
U.S. income tax which could be
reduced by the credit excluded the
tax from recomputing prior year
investment credit, the tax from
recomputing prior year work
incentive (WIN) credit, and the
additional tax for tax preferences.
Under Code section 902, credit
was allowed for foreign taxes
deemed paid, when a domestic
corporation received a dividend
from a foreign corporation in
which it owned a 10 percent or
more voting stock interest, for
the taxes paid on the foreign
corporation's accumulated profits
out of which the dividends were
paid. A portion of the taxes paid
or accrued by the "first-tier"
foreign corporation was deemed to
have been paid by the domestic
corporation. The taxes eligible
for credit were determined based
on the relationship between the
Corporation Returns/1974 . Explanation of Terms
195
foreign corporation's profits and
the amount paid to the domestic
corporation as dividends.
In addition, if the first-tier
foreign corporation owned 10
percent or more of the voting
stock of a "second-tier" foreign
corporation from which it received
a dividend, the first-tier foreign
corporation was deemed to have
paid a proportionate amount of the
foreign taxes of the second-tier
foreign corporation. In turn, the
domestic corporation was deemed to
have paid a portion of these same
taxes. However, section 902 did
not apply unless the percentage of
voting stock owned by the domestic
corporation in the first-tier
foreign corporation and the
percentage of voting stock owned
by the first-tier foreign
corporation in the second-tier
foreign corporation equalled at
least 5 percent when multiplied
together.
The second-tier foreign corpora-
tion was deemed to have paid a
proportionate amount of the
foreign income, war profits and
excess profits taxes paid or
accrued by a "third-tier" foreign
corporation whenever it owned 10
percent or more of the voting
stock of a third-tier foreign
corporation from which it received
a dividend, and the product of the
following equalled at least 5
percent: the percentage of voting
stock owned by the domestic
corporation in the first-tier
corporation, the percentage of
voting stock owned by the
first-tier foreign corporation in
the second-tier foreign corpora-
tion, and the percentage of voting
stock owned by the second-tier
foreign corporation in the
third-tier corporation. In turn,
the first-tier foreign corporation
and the domestic corporation were
deemed to have paid a portion of
these same taxes.
Credit computed the same way as
that described above for section
902 was also allowed for taxes
deemed paid on distributions
constructively received from
Controlled Foreign Corporations
under Code section 960. The
credit was allowed for these
distributions if the domestic
corporation owned 10 percent or
more of the first-tier Controlled
Foreign Corporation. However, if
the first-tier Controlled Foreign
Corporation received distributions
from a second-tier Controlled
Foreign Corporation, it was
required to own at least 50
percent of that corporation's
voting stock before it could
include the taxes deemed paid of
the second-tier Controlled Foreign
Corporation in the computation of
its own taxes deemed paid. No
credit was allowed under section
960 for taxes deemed paid on
distributions received from
third-tier Controlled Foreign
Corporations. Constructive
distributions, i.e., distributions
"deemed" but not "actually"
received, are described under
"Dividends Received from Foreign
Corporations" and "Includable
Income from Controlled Foreign
Corporations . "
In the case of taxes paid on
foreign mineral income, the
foreign tax credit was reduced to
the extent that (a) the foreign
tax exceeded the U.S. income tax
payable on such income and (b) the
excess was due to the lower
profits recognized for U.S. tax
purposes because of the deduction
for percentage depletion.
The amount of the foreign tax
credit was limited. Code section
904 provided two alternative
methods of computing the limit.
Corporations could elect the
"overall" limitation method
whereby the foreign taxes claimed
for credit could not exceed an
amount based on the ratio of total
foreign taxable Income to the U.S.
corporation's total taxable
income. (There were restrictions
on the use of the "overall" method
in the case of affiliated groups
filing consolidated returns that
included Western Hemisphere Trade
Corporations.) Corporations could
elect to use a "per country"
limitation method instead. (For
taxes paid in connection with
certain interest income, the
credit was computed separately and
on a "per country" basis, regard-
less of the limitation elected for
the rest of foreign income.) Under
this method the same ratio was used
but it was computed separately for
each country of which taxes were
paid.
Generally, income of all types
from foreign sources could be com-
bined for purposes of computing
the foreign tax credit. However,
for dividends received from
Domestic International Sales
Corporations (DISC's) that were
attributed to certain export
receipts (and were thereby
regarded as foreign dividends),
the foreign tax credit limitation
was computed separately with
respect to aggregate dividends
received from all DISC'S, and then
to all other foreign source income.
Foreign taxes in excess of the
limitation for any one year could
be carried back to the 2 preceding
years and then carried over to the
5 succeeding years to reduce income
tax, subject to the foreign tax
credit limitation of the years to
which they were carried. Any
unused foreign taxes remaining at
the end of the carryover period
could not be claimed. The 1974
statistics therefore include
excess foreign taxes carried ovc
from the 5 preceding years.
However, because StxvtUticLl, oi
Income, is based on returns as
originally filed, the amount of
excess foreign taxes carried back
from the 2 succeeding years for
inclusion in a recomputed 1974
foreign tax credit was not
available. Therefore, the statis-
tics for the 1974 credit are
necessarily incomplete.
Gross Export Receipts of DISC and
Related U.S. Persons
This item represents the gross
receipts of the Domestic Inter-
national Sales Corporation (DISC)
and related U.S. persons derived
outside the United States reported
on Schedule N, Form 1120-DISC.
Related U.S. "persons" included:
(1) individuals (who were citizens
or residents of the United States)
and domestic partnerships, trusts,
or estates which controlled a
DISC; (2) domestic corporations
which controlled, or were
controlled by a DISC; and (3)
domestic corporations which were
controlled by the same person or
persons who controlled a DISC.
Control meant direct or indirect
ownership of more than 50 percent
of the voting stock of a DISC or
other domestic corporation.
Inactive Corporation Returns
Corporations in existence during
any portion of the taxable year
were required to file a return
even though they may have been
inactive. The number of returns
for inactive corporations (defined
for this report as returns showing
no item of income or deduction) is
presented in table B. Financial
data from these returns were
excluded from the statistics.
Includable Income of Controlled
Foreign Corporations
This item represented amounts,
not actually received, which a
domestic corporation owning at
least 10 percent of a Controlled
Foreign Corporation was required
by Code section 951 to include in
its gross income. For most
purposes, the foreign corporation
was considered controlled if more
than 50 percent of its voting
stock was controlled by U.S.
persons, including domestic
corporations, each of whom owned
at least 10 percent of its voting
stock.
The includable income consisted
of:
(1) subpart F income, defined
below, except if "minimum distri-
butions" (based on the relation-
196
Corporation Returns/1974 • Explanation of Terms
ship of the foreign and U.S. tax
rates so that the combined tax on
the foreign corporation's earnings
appr-oximated 90 percent of what
the U.S. tax alone would have
been) were made,
(2) any previously excluded
subpart F income which had been
invested in qualified assets in
"less developed countries," but
which was now either withdrawn
fnom these countries or remitted
to the U.S. stockholders and was
thereupon taxable, and
(3) any increase in Controlled
Foreign Corporation earnings due
to investment in U.S. property.
Subpart F income, defined in
Code section 952, included:
(1) income attributable to
premiums received by foreign
insurance companies that were
Controlled Foreign Corporations
(here defined in terms of 25
percent voting stock ownership),
75 percent or more of whose
insurance business was on U.S.
risks, and
(2) "foreign base company
income," which included:
(a) foreign "personal holding
company" income (income derived
from portfolio investments or from
"passive" investments),
(b) foreign base company sales
income (generally from the sale of
property produced in the United
States or a foreign country by one
corporation and sold by a related
corporation, generally a trading
company, organized In another
country, having a low rate of
taxation, for use outside that
country), and
(c) foreign base company
services income.
Foreign base company income
excluded income from qualified
investments in less developed
countries or from sales of U.S.
exports as well as income derived
from use of aircraft or vessels in
foreign commerce and related
services.
Analysis of returns of some of
the larger corporations revealed
instances where amounts reported
as includable income from
Controlled Foreign Corporations
were actually dividends received
from foreign corporations (both of
these items were reportable on the
dividends received schedule on the
return). If these amounts were so
identified on supporting schedules
they were classified for
statistical purposes as foreign
dividends. Since the full extent
of such variations in taxpayer
reporting is not known, the amount
shown for includable income may be
somewhat overstated.
Table 11 shows this Income
separately. In other tables it is
combined with "Foreign Dividend
Income Resulting from Foreign
Taxes deemed paid" under the
heading "Constructive Taxable
Income of Related Foreign
Corporations."
Income Subject to Tax
The 1951 Code provided several
tax bases for different types of
corporations. These included the
"taxable income" base defined by
Code section 63, used by the
majority of corporations, and to
which the normal tax and surtax
rates applied; a variation of this
base in combination with long-term
capital gain when the lower capi-
tal gains rate was applicable; the
special capital gains tax base of
Small Business Corporations
electing to be taxed through their
stockholders; the several tax bases
applicable to insurance companies;
and the amounts taxable to
regulated investment companies and
real estate investment trusts. All
of these tax bases are included
under this heading; however, small
amounts of regulated investment
company undistributed long-term
capital gains were excluded.
Since Domestic International Sales
Corporations (DISC's) themselves
were not taxable, income subject
to tax was not applicable (see
"Domestic International Sales
Corporation Returns").
For most corporations, the
income subject to tax consisted of
net income minus certain "statutory
special deductions" (described in
this report under separate
heading). However, there were
certain exceptions where net
income minus statutory special
deductions did not equal income
subject to tax. In some cases,
the statutory special deductions
for dividends received and for
dividends paid on certain pre-
ferred stock of public utilities
exceeded net income. For these
returns, income subject to tax was
reduced to zero and the excess of
the two special deductions became
the statutory loss for the year,
available for deduction purposes
over the prescribed carryback and
carryover periods.
Also, the tax bases applicable
to Small Business Corporations
electing to be taxed through their
stockholders, life insurance compa-
nies, regulated investment compa-
nies, and real estate investment
trusts were not defined as net
income less statutory special
deductions.
Depending on which resulted in
the lowest tax, the tax base for
Small Business Corporations
electing to be taxed through their
stockholders was either (1) net
income, (2) the amount of net
long-term capital gain in excess
of $25,000, If more than 50
percent of net income, or (3) the
amount attributed to gain from the
disposition of property using a
"substituted basis" (i.e., the
basis that was transferred from
another corporation which was not
a Small Business Corporation
electing to be taxed through its
stockholders). No net operating
loss carryovers and carrybacks
were available, nor were deduc-
tions allowable for statutory
special deductions.
For life insurance company
statistics, net income was derived
from gain or loss from operations
(which included the "company's
share" of investment income) to
which statutory special deductions
were added back. Income subject
to tax was the smaller of gain
from operations and the "company's
share" of investment income less
the deductions applicable, plus,
when this investment income was
the smaller, half the difference
between investment income and ^in
from operations. To this total
was added any amount subtracted
from the policyholders' surplus
account (which contained income
nontaxable in the year earned, but
taxable later on when withdrawn
from this reserve account, even if
the company had no current year
net income) .
In addition, the life insurance
company provisions applied to
mutual savings banks with life
insurance departments; the banking
and insurance departments were
each separately taxed although
data for the two departments were
combined for the statistics.
In the case of regulated
investment companies and real
estate investment trusts, any net
long-term capital gain (reduced by
net short-term capital loss) which
was not distributed to stockholders
was taxed to the companies, and
always at the capital gains rate,
even though the alternative tax
method was not allowed. The
balance of undistributed income
was taxed at the normal tax and
surtax rates. Undistributed net
long-term capital gain taxed at
the capital gains rate was not
available from the income tax
computation schedule of the return
form and no attempt was made to
obtain it from attached schedules
for the statistics.
See also, "Income Tax."
Income Tax
Income tax was the gross amount
of income tax liability before
deducting the foreign tax,
investment, and work incentive
(WIN) credits. (Since Domestic
International Sales Corporations
(Disc's) themselves were not
taxable, income tax was not
applicable; see "Domestic
Corporation Returns/1974 • Explanation of Terms
197
International Sales Corporation
Returns. ")
The basic income tax consisted
of:
(1) a normal tax of 22 percent
on total taxable income plus a
surtax of 26 percent on total
taxable income in excess of
$25,000, for corporations with
197') accounting periods ended in
197'* (for purposes of this report,
July 1971 through December 1974);
(2) for corporations with 1974
accounting periods extending into
1975 (ended January 1975 through
June 1975, for this report), the
Tax Reduction Act of 1975 required
a proration of tax since, for
1975, the normal tax rate was
reduced from 22 percent to 20
percent for the first $25,000 of
taxable income. For taxable
income in excess of $25,000, the
normal tax rate remained at 22
percent. Also, the surtax
exemption was increased from
$25,000 to $50,000, thereby
decreasing the amount of income
subject to the 48 percent tax rate
by $25,000. The proration was
computed as follows: first, the
income tax was computed with a
$25,000 surtax exemption and
second, with a $50,000 surtax
exemption. The normal tax rate
was 20 percent of the first
$25,000 of taxable income and 22
percent on taxable income in
excess of $25,000. Then the two
taxes were prorated according to
the number of days in the taxable
year before and after the December
31, 1974, effective date of the
law change;
(3) in lieu of the normal tax
and surtax on total taxable income
an alternative tax was allowed,
whereby the excess of net
long-term capital gain over net
short-term capital loss was taxed
at the capital gains rate while
the balance of income was taxed at
the normal tax and surtax rates.
This method of computing income
tax was not available to regulated
investment companies and real
estate investment trusts. The
alternative capital gains rate was
30 percent in most cases. In
certain other cases, the
alternative capital gains rate was
25 percent. (See "Net Capital
Gains" in this section.)
In addition to the preceding,
the statistics for income tax also
include:
(4) an additional tax for tax
preferences ("minimum tax"),
described under separate heading,
(5) the tax from recomputing a
prior year investment credit,
described under separate heading,
(6) the tax from recomputing a
prior year work incentive (WIN)
credit, described under separate
heading,
(7) the 30 percent tax on
certain long-term capital gains of
Small Business Corporations elect-
ing to be taxed through their
stockholders, and
(8) the 30 percent tax on
undistributed net long-term
capital gain (reduced by net
short-term capital loss), and the
normal tax and surtax on the
balance of undistributed income of
regulated investment companies and
real estate investment trusts.
Income tax shown in this report
for returns without net income was
attributable to the small number
of returns showing:
(1) income tax under special
provisions of the Internal Revenue
Code applicable to insurance
businesses,
(2) tax from recomputing a prior
year investment credit,
(3) tax from recomputing a prior
year work incentive (WIN) credit,
and
(4) additional tax for tax
preferences.
Statistics for income tax do not
reflect the Personal Holding
Company tax nor do they reflect
any adjustments to the tax
liability such as those resulting
from:
(1) recomputation of the 1974
taxable income to reflect the
carryback of net operating losses
and certain capital losses for
future years,
(2) reduction of income tax by
foreign tax, investment, and work
incentive (WIN) credits recomputed
to take account of the carryback
of unused investment credit and
foreign taxes of certain future
years ,
(3) audit examinations and other
enforcement activities, and
(4) uncollectible taxes.
The statistics therefore differ
somewhat from the actual income
tax collections and the final
income tax liability of
corporations for tax year 1974.
Industrial Classification
Among the several
classifications used in this
report, tax return data were
classified according to the
phAMoipaJi business activity of the
corporation. Returns were classi-
fied in the "minor" industry which
accounted for the largest portion
of total receipts even though the
return may have been for a company
engaged in many business activities
or may have been a consolidated
return filed for the members of an
affiliated group of corporations.
Industrial divisions were comprised
of major industries, which in turn
were comprised of minor industries.
Year-to-year changes in the
classification of specific
corporations could have resulted
from mergers and other changes in
organization or from filing
consolidated returns as well as
from a change in the principal
source of total receipts.
The industries used in this
report generally conform with the
Enterprise Standard Industrial
Classification (ESIC) authorized
by the Office of Federal Statis-
tical Policy and Standards of the
Department of Commerce. This
classification, which was designed
to classify companies (which are
often engaged in more than one
industrial activity), follows
closely along the lines of the
more detailed Standard Industrial
Classification (SIC) which was
designed to classify single
activity "establishments." Some
departures from the ESIC system
were made for States tio, o^ Incomz
for the finance industries in order
to reflect particular provisions of
the Internal Revenue Code.
Intangible Assets
The total gross amounts (before
the reduction by amounts of
accumulated amortization) for
contracts, copyrights, formulas,
licenses, patents, registered
trademarks, research or experimen-
tal expenditures and similar assets
were included in this category only
if amortization (or depreciation)
were shown against them. These
assets could be amortized only if
they had a definite life and
value. Other intangible assets
which were not amortizable were
included in the statistics with
"Other assets."
Accumulated amortization repre-
sented the cumulative adjustment
to these intangible assets as
shown on the corporation's books
of account .
Interest on State and Local
Government Obligations
The interest on obligations
issued by States, municipalities
and other local Governments, the
District of Columbia, and U.S.
possessions was exempt from the
income tax. The amounts shown for
this item are less the amortizable
bond premium.
For statistical presentation,
this interest is shown as part of
the income statement and is
included in total receipts. Most
corporations reported this
tax-exempt interest in the
reconciliation of income per books
with income per return (schedule
M-1 on the Form 1120 tax return).
Interest on United States
Government Obligations
This taxable interest, a
component of total receipts, was
198
Corporation Returns/1974 • Explanation of Terms
r-eceived from obligations issued
by the United States, its agencies,
or its Instrumentalities. The
amounts shown for this item are
less the amortizable bond premium.
Interest Paid
These amounts were deductible as
ordinary and necessary business
expenses and included interest
paid by corporations on business
indebtedness. Included in the
statistics were amounts of
interest paid on installment
purchases if they were stated in
the contract, as well as certain
unstated amounts under Code
section 183. For banking and
savings institutions the amounts
also included interest paid on
deposits and withdrawable shares.
Inventories
Based on amounts reported on the
balance sheet, inventories included
such items as raw materials,
finished and partially finished
goods, merchandise on hand or in
transit, and growing crops
reported as assets by agricultural
concerns. Amounts reported by
investment and holding companies
(other than operating holding
companies), security and commodity
brokers, dealers and exchanges,
and real estate developers and
operative builders, were excluded
and included in "Other invest-
ments." However, for consolidated
returns which included these
companies, amounts which could not
specifically be identified as
inventories of these companies
were included in the statistics.
Inventories were generally
valued at cost or at the lower of
cost or market price. A variation
of the cost method was the
"last-in, first-out" (LIFO) method
of inventory identification, based
on the proposition that the most
recently purchased or produced
inventories were those that were
sold first and that taxable income
was most clearly reflected by
relating the cost of the most
recently acquired inventories to
sales. Table 8 shows inventories valued
using the LIFO method and related
statistics. The statistics for
corporations which used the LIFO
method shown in this table are
based on the attachment of a Form
970, Application for the Adoption
and use of the Elective Inventory
Method, to the return for the
taxable year in which LIFO was
first adopted for all inventories
or only for the inventories of a
product line, geographic group,
division or other specific part of
the corporation, or on information
provided in the narrative
description of inventory valuation
methods requested in the cost of
goods sold schedule. The data are
understated to the extent
corporations used the LIFO method,
but did not indicate this in the
cost of goods sold schedule and
did not have to attach a Form 970
to the return because LIFO had
previously been adopted.
Corporations with manufacturing
or production operations had to
use the "full absorption" method
to determine the cost of inven-
tories for taxable years beginning
after September 18, 1973. The
full absorption method was pre-
scribed by income tax regulations
and required that corporations
include indirect as well as direct
production costs in determining
the cost of inventories. (See the
discussion in section 1.)
Investment Credit
Investment credit, restored by
the Revenue Act of 1971, was the
reduction, after limitations, of
income tax allowed corporations
based on their investments in
certain depreciable property with
a useful life of at least 3
years. Such property could not be
disposed of prior to the end of
the useful life used as the basis
of the credit. Otherwise, the
credit already taken had to be
repaid as an additional tax for
the year in which the disposition
occurred. (See "Tax from
Recomputing Prior Year Investment
Credit.")
In general, the investment
credit before limitations was
equal to 7 percent of "investment
qualified for credit" (4 percent
for public utility property), an
amount derived from the cost of
property and designed to give
weight to investments in
longer-lived assets. The credit
claimed could equal the income tax
available for investment
credit — income tax (excluding tax
from recomputing prior year
investment credit and additional
tax for tax preferences) less
foreign tax credit but before work
incentive (WIN) credit-unless the
tax available for the credit was
in excess of $25,000. Then, the
investment credit was limited to
$25,000 plus 50 percent of the
excess over $25,000. Certain
limitations were applicable to
special classes or kinds of
corporations. Code section 16
limited the applicability of the
credit for mutual savings banks,
building and loan associations,
and cooperative banks by reducing
the qualified investment and
$25,000 tax liability limitation
by 50 percent. In the case of
regulated investment companies and
real estate investment trusts, the
qualified investment and $25,000
tax liability limitation were
reduced in the same proportion in
which the organizations' taxable
income was reduced by dividends
paid to stockholders or benefi-
ciaries. Similarly, in the case
of cooperatives, the qualified
investment and $25,000 tax
liability limitation were reduced
in the same proportion in which
the organizations' taxable income
was reduced by patronage dividends
and nonpatronage distributions.
Section 1)8 reduced the tax and
used property limitations for
members of "controlled groups" so
that the group as a whole was
subject to the same dollar
limitations as an individual
corporation not part of a group
and the controlled group was
somewhat more broadly defined than
for ordinary tax computation
purposes.
Generally, the investment credit
that c^uld not be claimed became
the linused investment credit for
the current taxable year and could
be used to reduce the income tax
liability in other years.
The credit was allowed for the
first year that the property was
placed in service. Property
qualified for the credit was
defined as tangible personal
property, tangible real property
(except buildings and their
structural components), plus
elevators and escalators.
"Tangible personal property"
comprised all property which was
contained in or attached to a
building, such as machinery or
equipment. Certain types of
property, even though physically
located outside a building or
accessory to a building were also
considered to be tangible personal
property. Tangible personal
property also included livestock
other than horses, and motion
picture and television film.
"Tangible real property" included
property used as an integral part
of manufacturing, production, or
extraction; or, used In furnishing
transportation, communication,
electrical energy, gas, water or
sewage disposal services; or, used
as a research or storage facility
in connection with any of these
activities.
Public utility property was
property used predominantly in the
business of selling or furnishing
(1) electrical energy, water, or
sewage disposal services, (2) gas
through local distribution
systems, (3) telephone services,
and telegraph services by means of
domestic telegraph operations, and
(4) other communication services
except international telegraph
services. However, the rates for
Corporation Returns/1974 • Explanation of Terms
199
any of these services had to be
established or approved by certain
types of government regulatory
bodies. Public utility property
subject to the 4 percent credit
also included communication
property, or property for communi-
cation purposes, acquired by
nonregulated companies if it was
the type normally used by
regulated utilities. Othe-^ rules
applicable to public utility
property limited somewhat the
eligibility of submarine cables
for credit if the credit was
passed on in its entirety to
customers through lower rates
(rather than dividing the benefit
between investors and customers).
Investment credit could not be
claimed for property with a useful
life of less than 3 years, and the
eligibility of used property was
further limited in that the total
cost recognized could not exceed
$50,000. Also ineligible for the
investment credit was (1) property
used for lodging, except for
coin-operated machines in apart-
ment buildings, (2) property used
predominantely outside the United
States, except for coninercial
communication satellites,
submarine telephone cables used
exclusively in communication links
between the United States and
foreign countries, and drilling
equipment used in international or
territorial waters, (3) property
used by certain tax-exempt organi-
zations, (4) property used by
governmental units, or interna-
tional organizations, (5) property
consisting of horses; or, of other
livestock if sold and replaced by
substantially identical animals
during a relatively short
specified period of time, (5)
property for which special 5-year
rapid amortization was elected in
lieu of ordinary depreciation
(including certain pollution-con-
trol facilities, railroad rolling
stock, coal mine safety equipment,
on-the-job training and child care
facilities, and expenditures for
the rehabilitation of low-income
rental housing), and (7) certain
foreign-produced property
(especially defined) that was
constructed or erected after
August 15 and before December 20,
1971, or acquired pursuant to an
order placed during this same
period (but with exceptions
chiefly for certain agricultural
equipment), and thereafter only if
stated under executive order of
the President.
For property constructea, recon-
structed, or erected b3ginning
before April 1, 197 1 and completed
after August 15, 1971, only that
part of the cost incurred after
August 15 was eligible for the
credit. However, "pre-termination
property" (property which, in
general, was constructed under a
binding agreement prior to the
April 1969 repeal of the invest-
ment credit) continued to be
eligible for the credit even if
construction began before April 1 ,
1971.
The special capital gains tax
imposed on Small Business Corpora-
tions electing to be taxed through
stockholders could not be reduced
by investment credit since these
companies were not eligible to
claim the credit (their investment
was allocated among the stock-
holders, who then claimed the
credit) .
Investment Credit Carryover
Amounts of "tentative" or
"earned" credit based on "quali-
fied investment" could not be
claimed if they exceeded the first
$25,000 of income tax plus 50
percent of the tax in excess of
$25,000 in a given year. (For
this purpose, income tax was
defined as the amount remaining
after deducting any foreign tax
credit and excluding additional
tax for tax preferences and tax
from recomputing prior year
investment credit.) Amounts of
credit in excess of these limita-
tions (including amounts earned by
corporations that had no tax for
the year) could be carried back,
chronologically, for use in the 3
preceding years provided they were
within the same limitations based
on tax for each year. Any amount
remaining could then be carried
over to the 7 succeeding years, in
chronological order, in the same
manner. Special rules were set
forth for the carryover period for
unused credits still eligible to
be claimed for investments made
prior to the 1969 repeal. The Tax
Reform Act of 1969 had repealed
the credit for all property that
was acquired or whose construc-
tion, reconstruction, or erection
began after April 18, 1969. To
effectuate the repeal of the
credit, the 1969 Act had provided
that the unused credits which
could be used in 1969 and later
years could not exceed 20 percent
of the aggregate carryover to
1969. Under the Revenue Act of
1971, the carryover period was
extended from 7 to 10 years.
In order to discourage
corporations from postponing
investments eligible for credit
until any ■remaining unused credits
under the previous law were "used
up," the 1971 Act repealed the 20
percent limitation for taxable
years ending after December 1971;
and, for that part of a taxable
year that ended after August 15,
1971, but prior to 1972, the 20
percent limitation was increased
by 6 percent per month for the
part of the year that occurred
after August 15. The 1971 Act
also reversed the normal sequence
in which the current-year
tentative credit and the unused
credit carryover from prior years
could be applied with regard to
the credit limitations based on
size of tax. In contrast to the
sequence provided under prior law,
the 1971 Act provided that for
taxable years beginning in 1971 or
later, the limitations were to be
first absorbed by carryovers from
pre-1971 years, and then, to the
extent possible, by the tentative
credit for the current year, and
finally, by carryovers and
carrybacks from post-1970 years.
Additionally, for taxable years
beginning in 1971 or later, the
carryovers from pre-1971 years
could be used up over a 10-year
rather than a 7-year period.
However, the 3-year additional
oai^ryover period did remain in
effect for carryovers and carry-
backs to taxable years beginning
after December 31, 1968 and ending
after April I8, I969, but only for
carryovers and carrybacks to
taxable years beginning before
January 1, 1971. Under this rule,
only that portion of a carryback
or carryover to such taxable years
that could not be completely used
up solely because of the 20 per-
cent limitation qualified for the
additional 3-year period.
The statistics may include any
carryover of unused credit for
"suspension period property" (up
to $20,000 worth of property was
exempted from the temporary
suspension of investment credit
from October 10, 1966, through
March 9, 1967). The statistics
may also include the carryover of
any unused credit for "pre-termi-
nation property" (property which
was acquired or constructed during
the period April 19, 1969, through
August 15, 1971, when the credit
was terminated if there was a
binding contract entered into
before the period began). Data
for the carryback of unused credit
were not reported on the current
year return and, thus, are not
reflected in the statistics. (For
the relationship between carryover
and the unused credit see "Unused
Investment Credit.")
Investment Qualified for Credit
Under the law in effect prior to
1971, qualifying property with a
useful life of H years or more was
eligible for the Investment credit.
Beginning in 1971, the law allowed
the credit for eligible property
with a useful life of 3 years or
more. Previously, if property had
a life of 4 but less than 6 years.
200
Corporation Returns/1974 • Explanation of Terms
one-third of Its cost (or basis)
corap'^ised "qualified investment"
eligible for credit. Property
with a life of 6 but less than 8
years "qualified" with respect to
two thirds of its cost and pro-
perty with a life of 8 years or
more was fully "qualified." For
property acquired or constructed
after March 31, 1971, the Revenue
Act of 1971 maintained those
proportions of investment quali-
fied for ere it but shortened the
useful life classes by one year
each. More pecif ically , the
proportion of the property's cost
(or basis) v lich comprised "quali-
fied investirent" eligible for the
credit was: one-third if the
property ha a useful life of 3
but less thi^ 5 years; two-thirds
if the prore: ty had a useful life
of 5 but le -)S than 7 years; and
the full araovnt if the property
had a useful life of 7 years or
more. (Tiie "ormer classes
continued t? apply, however, for
"pre-termin.'ition property"
acquired or completed before
August 16, 1971, unless construc-
tion began after March 31, 1971.)
"Qvalified investment" (shown in
the statistics as "investment
qualified for credit") was thus
the base upon which the credit was
computed. It took into account
purchases of new property and to a
limited extent, purchases of used
property. While, for corporations
in general, qualified investment
equalled the sum of amounts based
on the useful life class percent-
ages described above, for "public
utility property" qualified invest-
ment was equal to l)/7 (previously
3/7) of the sum thus determined.
Thus, in effect, the investment
credit for public utility property
was 1 percent (previously 3
percent) instead of the 7 percent
allowed corporations in general.
However, in completing Form
3468, Computation of Investment
Credit, corporations with
investment in public utility
pr ^erty were asked to report the
full amount of qualified
investment , but to use a reduced
percentage (I percent) in
computing the tentative investment
credit. (See "Tentative Invest-
ment Credit.") Therefore quali-
fied investment as defined by the
law is somewhat overstated in the
statistics. This should be taken
into consideration in relating
qualified investment to tentative
investment credit. Other limita-
tions applie ' to certain banking
and savings astitutions, invest-
ment oompani:s, and cooperatives.
For 19714, he statistics for
investment alified for credit
may have in' uded amounts of
suspension :riod property
acquired di ng the temporary
suspension the credit (October
10, 1966 through March 9, 1967)
but not placed in service until
the 19714 tax year. This property,
which was not eligible for the
credit was nor-mally identified by
the taxpayer and was removed from
the total during the editing stage
of statistical processing.
However, in some cases it could
not be identified for removal and
remained in the total.
The statistics for investment
qualified for credit do not
include property constructed or
acquired during the termination
period after April 18, I969 and
generally through March 31, 1971.
However, so-called pre-termlnation
property (which was constructed or
acquired during this period under
a binding contract in effect on
April 18, 1969) Is included.
Investments in Government
Obligations
This balance sheet asset item
comprised ( 1 ) bonds or other
obligations of a State, or U.S.
possession, including obligations
of political subdivisions and of
the District of Columbia, and (2)
U.S. obligations, including those
of instrunentali ties of the
Federal Government. In those
instances where a corporation
reported only one total for
investments in Government obliga-
tions and did not indicate whether
the obligations represented those
of the United States or of State
and local Governments, the total
was treated as investments in U.S.
obligations.
Land
Land, which was reported as a
separate capital asset on the
balance sheet, may be understated
in this report because it could
not always be identified. Some
corporations may have included
land as part of "Depletable
assets" or included it in "Other
investments." If land was certi-
fied as an emergency facility for
the national defense, it could be
amortized. If so, only the net
land value (i.e., the value of
land after the adjustment for
amortization) was reported.
Loans From Stockholders
This balance sheet liability
item was regarded as long-term in
duration and may have included
loans from stockholder corpora-
tions as well as from other
stockholders.
Loans to Stockholders
This balance sheet asset item
was ''egarded as long-term in
duration and Included loans to
stockholder corporations as well
as to other stockholders.
Long-term Capital Gain From
Certain Binding Contracts and
Installment Sales
Long-term capital gains which
stemmed from installment sales or
other disposition made under
certain binding contracts entered
into before October 10, 1969, if
received before January 1, 1975,
were taxed at the pre-1970
alternative rate of 25 percent in
lieu of the revised 30 percent
rate required by the Tax Reform
Act of 1969. The 25 percent rate
did not apply to gains from
timber, coal, or domestic iron ore
eligible for capital gains treat-
ment under Code sections 63 1 and
1231.
Since these gains were reported
only in connection with the compu-
tation of income tax, the statis-
tics for them may be slightly
understated because the amount was
not required to be reported
separately on returns of corpora-
tions not having any income
subject to tax.
See the explanations for "Net
Long-Term Capital Gain Taxed at
Alternative Rates" and "Income
Tax" in this section.
Members of Controlled Groups
Members of controlled groups
were those corporations which were
related to one another generally
through 80 percent or more common
stock ownership and which filed
separate tax returns under the
provisions of Code sections
1561-1564. These provisions also
effectively covered the filing
prerequisites for most consoli-
dated returns since the stock
ownership requirement used to
define an affiliated group
eligible to file a consolidated
return was similar to the
controlled group ownership
requirements. (See "Consolidated
Returns. ")
The controlled group provisions
applied when (1) a conmon parent
corporation had 80 percent or more
control of one or more chains of
subsidiaries (parent-subsidiary
group), or when (2) five or fewer
persons (individuals, estates, or
trusts), individually or in
combination, had 80 percent or
more control of each of two or
more corporations, but where the
sum of each person's "identical"
ownership in the group totaled
Corporation Returns/1974 • Explanation of Terms
201
more than 50 percent (brother-sis-
ter group). "Identical" ownership
was considered to be the lowest
common percent of ownership of an
individual owner in each of the
corporations comprising the
group. Thus, if a person had
ownership in each corporation in a
given group and the smallest per-
cent ownership was, for example, 5
percent of corporation A, that
person's identical ownership in
the entire group was considered to
be 5 percent. Combination groups
were possible when a person or
persons controlled two or more
corporations, one of which was the
parent of one or more subsidiary
corporations.
Two or more related life
insurance companies were required
to be treated as a controlled
group separate from any other
corporation to which they may have
been related. Domestic
International Sales Corporations
(Disc's) were by their nature
members of controlled groups.
However, control was defined in
terms of 50 percent stock owner-
ship. Disc returns were not
included in table 34.
Control was based on the total
combined voting power or total
value of all classes of outstand-
ing shares. Certain stock was
disregarded altogether and special
constructive stock ownership rules
applied depending on the type of
controlled group involved.
Certain corporations were not
considered as members of
controlled groups. Included in
this category were franchised
corporations, tax-exempt organi-
zations, foreign corporations with
income not effectively connected
with a U.S. trade or business, and
corporations which were members of
the controlled group for less than
one-half the days in their taxable
year that preceded December 31.
Code section 1561 limited the
surtax exemption to one per
group. However, as an
alternative, code section 1562
allowed each controlled group that
filed separate returns for each
member to claim a $25,000 surtax
exemption for each member provided
an additional tax equal to 6
percent of each surtax exemption
(in excess of the one allowed the
group) was reported on each
return. Under provisions of
section 156H , section 1562 was to
be phased out, starting with 1970,
over a 5-year transition period at
the end of which multiple surtax
exemptions would no longer be
allowed. During the transition
period, each $25,000 multiple
surtax exemption was reduced by
$•4,167 per year; the 6 percent
additional tax continued to apply
over this time, but it amounted to
less since it was imposed on the
gradually diminished amount of
each exemption. For purposes of
the 1971 statistics, the value of
multiple surtax exemptions was
$8,333 (for taxable years that
included December 31, 1973) and
$t,l67 (for taxable years that
included December 31, 197'*).
Mortgage and Real Estate Loans
Mortgage and real estate loans
were, in general, the total amount
which a corporation loaned on a
long-term basis, accepting
mortgages, deeds of trust, land
contracts, or other liens on real
estate as security. Because the
return form did not provide a
separate place for reporting any
reserve for uncollectible mortgage
and real estate loan accounts,
such reserves may have been
included in the "Allowance for bad
debts," shown in this report as an
adjustment to "Notes and accounts
receivable." If a separate
reserve was indicated in
supporting schedules, statistics
for it were therefore added to the
allowance for bad debts.
Mortgages, Notes, and Bonds Payable
These liabilities were separated
on the balance sheet according to
the length of time to maturity of
the obligations. The length of
time to maturity was based on the
date of the balance sheet rather
than on the date of issue of the
obligations. Accordingly,
long-term obligations maturing
within the next taxable year were
included together with short-term
obligations in the statistics for
mortgages, notes, and bonds
payable in less than 1 year.
Deposits and withdrawable shares
may have been reported in
mortgages, notes, and bonds
payable by banks and savings
institutions. When identified,
such amounts were transferred to
"Other current liabilities."
Net Capital Gains
(NeX long-teAm capital, gain
teduced by nzt iholt-teAm
cap.iXal ton]
(Wet iho'it-teAm aap-iXal gain
leduced bif net Zong-teAm
caplXal loii 1
Net capital gains represented
the excess of gains over losses
from the sale or exchanges of
capital assets subject to the
limitations described below.
Gains and losses were short-term
(if the asset was held for 6
months or less) or long-term (if
the asset was held fcr more than 6
months) .
Net short-term gains (reduced by
net long-tern losses) were taxed
as ordinary income. However, net
long-term gains (reduced by net
short-term losses^ were taxed at a
rate of 30 percent for 1971 and
thereafter. This rate however did
not apply to ( 1 ) amounts received
under binding contracts and
installment sales made before
October 10, 1959, and (2)
distributions from corporations
made before October 10, 1970, as a
result of complete liquidation
plans adopted before October 10,
1969. For these transactions the
lower rate of 25 percent which was
in effect for I969 and earlier
years continued to apply.
Excess net losses sustained in
taxable years beginning after 1969
could be carried back as
short-term losses to be applied
against the net capital gains of
the 3 preceding years; any losses
remaining after carryback were
carried over to the 5 succeeding
years. Excess net losses
sustained in taxable years
beginning in 1959 or earlier,
could only be carried over; no
carryback was allowed. Use of the
carryback for post- 1959 excess net
losses was limited; however, it
was not allowed to increase or
cause a deductible "net operating
loss" for prior years and was not
allowed for foreign expropriation
capital losses (although a special
carryover period of 10 years for
such losses was allowed instead)
or for capital losses of Small
Business Corporations electing to
be taxed through their stock-
holders. If the unused capital
loss carryover was not eliminated
within the prescribed span of
years, it could not be taken.
Code section 1221 defined the
"capital assets" (or transactions)
to which special treatment applied
as all property held by the
corporation except:
(1) stock in trade, or property
of a kind includable in inven-
tories,
(2) property held for sale to
customers in the ordinary course
of business,
(3) notes and accounts
receivable acquired in the
ordinary course of business,
(t) certain short-term
Government obligations sold at a
discount,
(5) depreciable property used in
the trade or business,
(6) real property used in the
trade or business, and
(7) certain copyri^.ts,
literary, musical, or artistic
compositions or similar properties.
Net gains from dispositions of
some of the property types
excluded from the definition of
capital assets under Code section
1221, could receive capital gain
treatment under special conditions
set forth in other sections, while
net gains from some of the
202
Corporation Returns/1974 . Explanation of Terms
property types included under the
definition could be denied capital
gain treatment under still other
sections. The latter are referred
to under the heading, "Net gain or
loss, noncapital assets."
Property used in trade or busi-
ness, excluded from the tax-defi-
nition of capital assets, received
special treatment under Code
section 1231. Gains and losses
from sales or other dispositions
of this property had to be
aggregated first. If the overall
result was a net gain, it was
included in the computation of net
long-term capital gain or loss.
If the overall result was a net
loss, it was included in the
computation of net gain or loss
from sales of property other than
capital assets. Thus, a net gain
under section 1231 could receive
the more beneficial treatment of a
long-term capital gain taxable at
the alternative tax rate, while a
net loss under section 1231 could
receive the more beneficial
treatment as an ordinary loss
fully deductible against all types
of income and not just against
capital gain income.
The types of property {or
transactions) to which Code
section 1231 applied were:
(1) real and depreciable
property used in the trade or
business, held for more than 6
months, and not includable in
inventory or not held for sale in
the ordinary course of business;
(2) timber out by the taxpayer
during the year, if owned, or held
under contract to out, for more
than 6 months before the beginning
of the taxable year, and if an
election was made under Code
section 631 to treat the cutting
as a sale or exchange of property
used in trade or business;
(3) domestic iron ore, timber,
or coal, held for more than 6
months, if disposed of under a
royalty contract whereby the owner
retained an economic interest in
the property, so that under Code
section 631, the net gain or loss
on the royalty income was treated
as a net gain or loss on a sale or
exchange of property used in trade
or business;
(4) unharvested crops disposed
of with the land and used in the
business of farming if the land
was held for more than 6 months;
and
(5) livestock (including
fur-bearing animals such as
chinchillas, minks, and foxes),
except poultry, held for drafting,
breeding, dairying, or sporting
purposes, and, except for cattle
and horses, acquired after 1969,
held for 12 months or more. The
holding period for cattle and
horses acquired after 1969 was 24
months or more.
The amount of gain eligible for
capital gains treatment under Code
section 1231 was reduced in the
case of certain real and depreci-
able property by sections 1245,
1250, 1251, and 1252, and in the
case of certain mining property,
by section 617.
Code section 1245 provided that
eligible gain for most depreciable
pr-operty except certain kinds of
real property be based on the
amount of depreciation allowed on
it prior to 1962. Section 1250
provided that eligible gain for
certain depreciable realty be
based on a percentage of the
excess of accelerated depreciation
over straight line depreciation
allowed prior to 1963 and on the
length of time the property was
held. However, with certain
exceptions for sales of housing,
no gain based on excess deprecia-
tion taken after 1969 was eligible
for capital gains treatment.
Section 1251 further limited the
eligible gain for certain types of
real or depreciable property to
the amount in excess of farm net
losses accumulated after 1969 or,
in the case of farmland, to an
amount in excess of certain agri-
cultural deductions accumulated
during the most recent 5-year
per-iod. Section 1252 went
further, by then limiting the gain
treatment of farmland depending on
the length of time the property
was held.
Section 617 limited eligible
gain on certain mining property to
an amount in excess of the sum of
current and recent prior year
deductions for exploration and
development expenditures.
None of these Code provisions
had any effect on the treatment
under Code section 1231 of losses
resulting from the disposition of
such property. For a description
of the property to which sections
1245, 1250, 1251, 1252, and 617
applied, see the explanation of
"Net Gain (or Loss), Noncapital
Assets ."
Net gains and certain net losses
under Code section 1231 also
resulted from "involuntary
conversions" not only of the
property types or transactions
otherwise covered by section 1231,
but also of the capital assets
defined in section 1221, if they
were held for more than 6 months.
Gain or loss from involuntary
conversions such as by condem-
nation were included in -he
regular consolidation of section
1231 gains and losses previously
described. Beginning with 1970
though, a separate netting of
gains and losses was required for
involuntary conversions by theft,
or from fire, storm, shipwreck or
other casualty, whether insured or
uninsured. If the result was a
net loss, it was treated as a
fully deductible loss (without
regard to other section 1231
transactions) and was excluded
from the capital gain statistics.
If, on the other hand, the result
was a net gain, then it was
consolidated with othe" gains and
losses under section 1231. See
the discussions of "Net Gain (or
Loss), Noncapital Assets" and
"Other Deductions."
Net Gain (or Loss), Noncapital
Assets
This computation resulted mostly
from the sale or exchange of ( 1 )
certain depreciable, depletable,
and real property (described
below); (2) notes and accounts
receivable acquired in the
ordinary cour'se of business for
services rendered or from the sale
of property includable in
inventory, or ordinarily held for
sale; (3) certain copyrights,
literar-y, musical, or artistic
compositions or similar
properties; (4) securities by
dealers; (5) securities, including
Government obligations, and other
evidence of indebtedness such as
convertible debentures, by
banking, savings, and certain
other financial institutions; (6)
certain patents, inventions or
designs, secret formulas or
processes, and similar property
rights by domestic corporations to
their more-than-50-percent owned
foreign subsidiaries; and (7)
qualified export assets by
Domestic International Sales
Corporations (DISC's). Also
included were amounts resulting
from (8) certain "involuntary
conversions" including net losses
from casualty and theft, and (9)
certain sales, exchanges, or
redemptions of Controlled Foreign
Corporation stock (see "Dividends
Received from Foreign Corpora-
tions") .
With respect to the statistics
for net gain or loss, noncapital
assets, an assumption was made for
the statistics in the case of
sales of stocks and commodities by
stock and comnodity brokers,
dealers, and exchanges; and sales
of real estate by real estate
subdividers, developers and
operative builders. If these
transactions were included in
gross receipts and cost of goods
sold on the tax return, instead of
in net gain or loss from
noncapital assets, the resulting
profit or loss from the
transactions (representing the
difference between the receipts
and the cost of sales) was
transferred to the statistics for
net gain or loss, noncapital
assets, but only if the cost of
Corporation Returns/1974 • Explanation of Terms
203
sales was more than 50 percent of
the receipts (if 50 percent or
less, the receipts were regarded
as commission Income). The tax
return data for receipts and cost
of sales were accordingly adjusted
for the statistics (see "Business
Receipts") .
As explained under the defini-
tion of "Net Capital Gains," a net
gain from dispositions of (or
certain transactions Involving)
specified types of business assets
that were considered noncapital
assets based on Code section 1221,
could receive capital gains treat-
ment under section 1231. Gains
and losses from these dispositions
or transactions first had to be aggre-
gated. If the overall result was
a net gain, it was included in the
computation of net long-term
capital gain, but if the overall
result was a net loss. It was
included In the computation of net
gain or loss, noncapital assets.
The special treatment in this
computation of gains and losses
resulting from involuntary
conversions, due mostly to
casualty and theft, is described
under "Net Capital Gains." Form
1797 called for net losses from
casualty and theft to be included
in the computation of "Nrt gain or
loss, noncapital assets" (although
some corporations reported them in
"Other Deductions").
The amount of gains (though not
losses) on dispositions of pro-
perty includable in the computa-
tion of net gain or loss under
Code section 1231, was limited as
a result of sections 1215, 1250,
1251, 1252, and 617. To the
extent the amount eligible for
capital gains treatment was
thereby reduced, the amount
included in the statistics for net
gain or loss, noncapital assets,
was increased.
Code sections 1245 and 1250
applied to certain depreciable
property. Sections 1251 and 1252
prescribed additional rules for
much of this same property if it
was used in the business of
farming, as well as for certain
other types of property used in
farming and covered under section
1231. Section 617 applied to
certain depletable property.
Codz SzcX^oM 1245 and 1250
The depreciable property to
which Code section 1245 applied
was: (1) personal property other
than livestock, whether tangible
(such as machinery and equipment),
or intangible (such as patents and
copyrights); and (2) other
tangible property including
certain realty other than
buildings and their structural
components , if it was an integral
part of specified business
activities, or which constituted
research or storage facilities
used in connection with such
activities. The business
activities qualifying were manu-
facturing, production, or the
providing of transportation,
communications, electrical energy,
gas, water, or sewage disposal
service.
The depreciable property to
which Code section 1250 applied
was real property not already
covered by section 1245. In
general, this property consisted
of buildings and their structural
components in the case of tangible
property; or leaseholds of land,
in the case of intangible property.
The amount of gain on disposi-
tions of depreciable property
under Code section 1245 and 1250,
treated as ordinary income and
included in the statistics for net
gain or loss, noncapital assets,
generally depended upon the amount
of depreciation claimed on the
asset after a certain date, prior
to its disposition, although other
factors were also considered in
the case of section 1250 disposi-
tions.
Under Code section 1245, the
amount of gain treated as ordinary
income was based on the deprecia-
tion (or amortization in the case
of defense "emergency facilities")
allowed or allowable after 196 1
(after 1963 for elevators and
escalators and after 1969 for
livestock (including fur-bearing
animals such as chinchillas,
minks, and foxes)). This
"depreciation recapture" applied
to dispositions of property made
during taxable years beginning
after 1962 (after I963 for
elevators and escalators and after
1969 for livestock).
Under Code section 1250, the
amount of gain treated as ordinary
income was based, in general, on
the excess of accelerated over
straight line depreciation allowed
or allowable after I963. However,
this "depreciation recapture" was
further qualified in the case of
depreciation taken, or sales made,
during 1963-69, so that if the
property was held for more than 20
months, the "recapture" was futher
reduced to a proportion of this
difference until, when the pro-
perty was held for 10 years, the
"recapture" as ordinary gain was
not applicable at all.
For depreciation taken, or sales
made, after 1969, these qualifi-
cations were rescinded (with
certain exceptions for residential
rental housing, housing rehabilita-
tion expenditures, and
Government-subsidized housing), so
that the entire amount of post-
1969 excess depreciation was
"recaptured" an ordinary income.
Corfe SecX^ofW )25! and ;Z52
Under Code section 1251, net
gain or loss from noncapital
assets included ordinary gains
from the sale or other disposition
of certain types of farm business
property which would otherwise
have been eligible for long-term
capital gain treatment under sec-
tion 1231. Dispositions already
regarded as ordinary gain or loss
using section 1250 rules were
excluded.
Amounts treated as ordinary gain
were based on farm net losses
accumulated after 1969. These net
losses were before the gain or
loss under Code section 1231 and,
over the years, were first offset
against any farm net Income. The
resultant accumulated loss was
then applied against the gain on
farm property. If the gain
exceeded the accumulated loss, it
was treated as ordinary gain to
the extent of the loss and only
the excess gain was eligible for
capital gains treatment. If the
reverse was the case, the gain was
similarly treated and the excess
loss was carried over for use in
connection with future gains. For
electing Small Business Corpora-
tions, this recapture of farm
losses was less restrictive and
was applicable only if farm net
loss exceeded $25,000, nonfarm net
j^ncome exceeded $50,000, and none
of the stockholders had a farm net
loss of their cwn. Section 1251
was not applicable if farming
operations were accounted for on
an accrual basis, inventories
used, and deductible amounts
capitalized and recovered over the
years through depreciation, even
though the law permitted expensing
of the full amount currently on an
elective basis.
Code section 1231 property
subjected to these recapture rules
included depreciable personal
property; livestock (inclyding
fur-bearing animals such as
chinchillas, minks, and foxes),
except poultry; unhar vested crops
sold with the land on which they
were growing; and land. For land,
there was a limitation under
section 1251 on the amount of gain
treated as ordinary income: the
amount recaptured could not exceed
accumulated deductions for soil
and water conservation and land
clearance expenditures in the
current and 4 preceding years.
However, there was an additional
recapture for land, under section
1252. This recapture was based on
a declining annual percentage of
total po3t-1969 deductions for
these same expenditures. The
percentage was reduced to zero
when land was held for 10 years or
more at which time the additional
recapture did not apply.
204
Corporation Returns/1974 . Explanation of Terms
Codi SzcJxon 617
Under Code section 617,
corporations engaged in domestic
mining operations that elected to
claim unlimited deductions for
exploration and development
expenses (except for oil and gas)
had to "repay" their post-1969
deductions when the mine reached
the producing stage or when it was
sold. If the mine was sold, the
profit was tr-eated as an ordinary
net gain from a noncapital asset
to the extent that the gain was ,
equal to or less than any
post-1969 deductions not already
"recaptured" prior to the sale.
Such gains ar'e reflected in the
statistics. Any net gain in
excess of the deductions was a net
gain under section 1231, and
eligible for capital gains
treatment.
Net Income (or Deficit)
This difference between gross
taxable receipts and the ordinary
and necessary business deductions
reflects not only actual receipts
but "constructive" receipts as
well. "Includable income from
Controlled Foreign Corporations"
and "Foreign dividend income
resulting from foreign taxes
deemed paid" in this section
describe this income which, though
not actually received, was
required to be reported by
corporations for tax purposes.
The statistics for net income
are generally larger than the
statistics shown for "Income
subject to tax." The reason for
this is that certain statutory
special deductions fi^om net income
were allowed most corporations in
computing their income subject to
tax. Also, the net income of
Small Business Corporations is
included in the statistics of net
income while only certain
long-term capi tal gains which were
taxable to these corporations were
assigned to the statistics for
income subject to normal tax,
surtax, and alternative tax.
Further, the net income statistics
include the amounts for Domestic
International Sales Corporations
(DISC'S); since these corporations
were not taxable, they had no
income subject to tax to report.
For mutual insurance companies
other than life or marine and
other than certain fire or flood
Insurance companie."}, the net
income (or deficit) used for
Statistics of Income was the sum
of the net investment income or
loss, the statutory underwriting
income or loss, and the subtrac-
tions from the Protection Against
Loss (PAL) account before
statutory special deductions
allowed corporations in general.
Net income, therefore, reflects
not only the ordinary business
deductions but the statutory
deductions fi-om underwriting
income allowed only to these
mutual Insur'ance companies. It
also reflects the additions (if
any) to taxable income of amounts
previously deferred from taxation
in the PAL account. Statutory
deductions from underwriting
income and subtractions from the
PAL account are described in the
Form 1120M return and instructions
in section 5 of this report and in
Code sections 823 and 824.
Net income for some small mutual
insurance companies reporting
under Code section 821(c) equalled
net investment income only. The
provisions of this section were
applicable only to companies with
income from investments (other
than capital gains), with premiums
of less than $500,000, and with no
reserve in the PAL account. These
provisions were elective.
Electing companies were not
required to report underwriting
income.
For life insurance companies,
the net income (or deficit) used
for statistical purposes comprised
the gain or loss from operations
shown on the Form 1120L return
(see section 5 of this report)
adjusted by adding back the
dividends received and the
operations loss deductions. Gain
or loss from operations (which
included both underwriting and
iiivestment income) represented
gross taxable receipts reduced by
ordinary and necessary business
deductions and by additions to
required reserves, certain other
statutory deductions pertinent
only to these companies, and by
the dividends received and
operations loss deductions.
Net Income (or Deficit) per Books
of Account
This was the after-tax profits
as reported in tax return sched-
ules reconciling income per books
of account with income per
Internal Revenue Code (see
Schedule M-1, "Reconciliation of
income per books with income per
return," on the Form 1120 return
facsimile in section 5 of this
report), or in the case of most
insurance companies, from the
annual statements filed with the
return.
For the most part, tax law
provisions agree with accepted
accounting practices and recognize
the application of general account-
ing principles to the conditions
and practices of a particular
trade or business. However, for
certain kinds of income, deduc-
tions, or transactions, the law
allows or requires special
accounting that digresses from
generally accepted accounting
methods.
Four fundamental reasons account
for most of the disparity between
tax and book profits: (1)
different bases, or accounting
values, assigned to property
which, for example, affect the
size of depreciation or gain or
loss when the property is sold;
(2) different definitions of
numerous components, e.g.,
depreciation, depletion, and bad
debt losses; (3) accounting
differences in timing the receipt
of Income and the expensing of
deductions, e.g., installment
sales, income from construction
contracts, prepaid income or
anticipated future losses or
expenses, income from foreign
subsidiaries and expenses
typically capitalized on the books
but expensed on the tax return,
(e.g., intangible drilling costs),
or vice versa; and (H) recognition
of certain income and deductions
for tax purposes only, e.g., the
"Foreign dividend income resulting
from foreign taxes deemed paid,"
or for book purposes only, e.g.,
interest on State and local
Government obligations, lobbying
expenses, and certain undistrib-
uted profits of foreign
subsidiaries.
The data shown are subject to
certain limitations. Although all
corporations were required to
provide data for a reconciliation
of profits, some did not include
them in their tax returns as
originally filed, while others
provided them in schedules of
their own design from which total
net income per books could not
always be determined. Also, net
income for tax purposes is li'-ely
to be more uniformly determined
than net income for book purposes
because of the necessity to
conform with provisions of the
Internal Revenue Code, although
complete uniformity is lacking
because of the various elections,
special treatments, and other
provisions in the law. In
addition, net income per books was
after taxes. The income tax
liability reported on the tax
return often differed from the
book amount because of the several
methods of accounting for taxes on
the books. The statistics may be
slightly overstated depending on
how parent corporations accounted
for the earnings of their noncon-
solidated subsidiaries. Duplica-
tion resulted when the parent
reported its equity in subsidia-
ries in its book net income and
the subsidiaries then also
reported their individual book net
incomes on their own returns.
Corporation Returns/1974 • Explanation of Terms
205
On an historical basis, both
book and tax net income are
affected by changes in accounting
practices by particular companies,
in generally accepted accounting
principles, and in tax law.
Moreover, because more definitive
measures of the diffe"ences
between tax and book profits are
not available, there is no way of
knowing how much of the difference
is permanent (because of different
definitions) or only temporary
(timing differences would be
expected to "wash out" over a
number of years) .
Net Long-Term Capital Gain Reduced
by Net Short-Term Capital Loss, in
Excess of $25,000
These amounts of gain in excess
of $25,000 represented the tax
base for "taxable" Small Business
Corporations electing to be taxed
through their stockholders (certain
newly electing corporations were
liable for tax either on their net
long-term capital gains in excess
of $25,000 when net long-term
capital gains were more than 50
percent of a net income that was
over $25,000, or on their net
income in excess of $25,000,
whichever resulted in a lower
tax). See the discussion under
"Income Subject to Tax" in this
section.
Net Long-Term Capital Gain Taxed
at Alternative Rates
This was the part of the tax
base used for the tax computation
allowed under Code section 1201
for those returns where the
alternative tax rate resulted in a
lower tax liability than would
have resulted from using normal
tax and surtax rates on total
taxable income. See also the
discussion under "Income Tax."
Income subject to tax for
returns with alternative tax was
the sum of ( 1 ) net long-term
capital gain (reduced by net
short-term capital loss), and (2)
income taxed at normal tax and
surtax rates (the balance of
taxable income) .
For most corporations, use of
the alternative tax did not affect
the amount shown as income subject
to tax. However, when net
long-term capital gain (reduced by
net short-term capital loss) was
greater than taxable income (net
income minus statutory special
deductions) but the alternative
rate (30 percent for 1971 and
thereafter, 28 percent for 1970,
and 25 percent for certain
transactions occurring before
October 10, 1969) applied to the
capital gains was less than the
regular rates applied to taxable
Lncorae, the capital gains, "ather
than taxable income became the tax
base and was used for the income
subject to tax statistics.
Net Worth
Net worth represented the
stockholders' equity in the assets
of the corporation in conti^ast to
the claims of creditors. In the
statistics it comprises the net
sum of the items:
(1 ) capital stock,
(2) paid-in or capital surplus,
(3) retained earnings,
appropriated,
(t) retained earnings,
unappropriated,
(5) less: cost of treasury
stock.
Each of these items is explained
under its own heading in this
section.
Noncalendar Year Returns
Returns filed for a twelve-month
accounting period ended during
July through November 197t or
during January through June 1975
were included in this
classification. Chart 1 in
section 1 shows the percentage of
returns filed for each of the
accounting periods covered in this
report .
Notes and Accounts Receivable
Notes and accounts receivable
were, in general, the gross
amounts of current trade items,
that is, amounts receivable
arising from sales or services to
customers on credit during the
ordinary course of trade or
business which would normally be
converted to cash within 1 year.
Current nontrade receivables were
generally included in "Other
current assets."
The tax return balance sheets on
most corporation income tax forms
called for the reporting of both
"gross" receivables and the
"Allowance for bad debts."
However, some corporations
reported only the net amount. In
addition, in the case of Domestic
International Sales Corporations
(Disc's), only the net amount was
called for on the tax return
balance sheet, and in the case of
insurance companies filing balance
sheets in the form required under
State law, only the net amount was
reported.
Loans and mortgages may have been
reported in notes and accounts
receivable by savings and loan
associations. When identified,
such mortgage loans were trans-
ferred to "Mortgage and Real
Estate loans."
The allowance for bad debts,
shown as an adjustment to notes
and accounts receivable, may also
include the reserves for the
separate account, mortgage and
real estate loans. As a result,
it was possible for the allowance
for bad debts to exceed the amount
of notes and accounts receivable.
Number of Returns
Returns of inactive corporations
were excluded from the statistics,
except in table B where inactive
corporation returns are included
in the total number and are also
shown separately. (See "Inactive
Corporation Returns.") The number
of Form 1120-DISC and Form 1120S
returns filed, respectively, by
Domestic International Sales
Corporations and Small Business
Corporations for which an election
was made to be taxed through
stockholders are included in each
total number (except for those
tables which specifically exclude
these returns) and are also shown
separately in some of the tables.
Other Assets
Other assets comprised, in
general, noncurrent assets which
were not allocable to a specific
account on the return form balance
sheet, and certain accounts for
which no distinction could be made
between current and noncurrent
status.
Includable were such items as
deferred charges reported as
noncurrent by the corporation,
interest discounts, guaranty
deposits, and intangible assets
not subject to amortization.
Other assets of banks included
property held in trust if included
in the banks' assets. Other
assets of life insurance companies
included the market value of real
estate, and that portion of stock
and bond holdings in excess of
book value. For Domestic
International Sales Corporations
(Disc's), this item also included
"nonqualified assets" (i.e.,
assets that were not export
related or that failed to meet the
requirements indicated for
"qualified export assets" in Code
section 993) .
Other Current Assets
Assets not allocable to a
specific current account in the
return form balance sheet, and
assets specifically reported as
short-term by the corporation, as
well as marketable securities
other than Government obligations
comprised this account.
206
Corporation Returns/1974 • Explanation of Terms
Includable were prepaid
expenses, nontrade receivables,
coupons and dividends receivable,
claims and judgments, and similar
items. For construction corpora-
tions, amounts reported as a
current item for contract work in
progress in excess of billings
were includable in this item.
Also includable in other current
assets were amounts reported as
inventories on nonconsolidated
returns of investment and holding
companies (other than operating
holding companies); security and
commodity brokers, dealers, and
exchanges; and real estate
subdividers, developers, and
operative builders.
Other Current Liabilities
Other current liabilities
included, for the most part,
certain amounts due and payable
within the coming year. The
account comprised accrued
expenses, as well as current
payables not arising from the
purchase of goods and services and
not evidenced by bonds, notes, or
mortgages. Examples of other
current liabilities were taxes
accrued or payable, accrued
employee accounts such as for
payrolls and contributions to
benefit plans, dividends payable,
overdrafts, accrued interest or
rent, and deposits and withdraw-
able shares of banking and savings
institutions.
For construction corporations,
amounts of advances or deposits on
uncompleted contracts or jobs in
progress were included in this
item, if reported as current.
Other Deductions
Other deductions comprised (1)
business expenses which were not
allocable to a specific deduction
item on the return form, or which
were not Included elsewhere on the
return form, and (2) certain
amounts which were given special
treatment in the course of
statistical processing.
The first category included such
items as administrative, general,
and selling expenses; bonuses and
commissions; delivery, freight,
and shipping expenses; sales
discounts; travel and
entertainment expenses; utility
expenses not reported as part of
the cost of goods sold; and
similar items.
The second category included
salarie.-? and wages not reported as
a cost of sales and operations and
not reported as a part of another
deduction item; amortization of
bond premiums and certain other
financial items such as loan or
mortgage costs reported as
amortization (corporations often
reported this deduction as part of
other deductions for which no
special treatment was required);
unrealized profit on current-year
installment sales; reported
amounts of negative income; and
certain "involuntary conversions"
(described below). Also included
were itemized business deductions
and other deductions unique to
Domestic International Sales
Corporations (DISC's), life and
most mutual insurance companies.
Included was the "small business
deduction" used by life insurance
company controlled group members.
The use of the "small business
deduction" was gradually curtailed
beginning with 1970, so that by
1975, only one deduction per group
would be allowed. In the case of
DISC'S, the statistics include
deductions such as those for
market studies, sales commissions,
and freight and other expenses
(whether or not export
promotional) .
The estimates for other
deductions may include losses
resulting from involuntary
conversions by theft, or from
fire, storm, shipwreck, or other
casualty (see the discussion under
"Net Capital Gains") if these
losses were reported in the
taxpayer's own schedule for other
deductions. For the statistics,
no attempt was made to transfer
the data to the capital gains
computation. Losses from
involuntary conversions which were
reported as ordinary losses were
included in the estimates for "Net
gain (or Loss), noncapital assets."
Other Interest
Included in this item were
amounts received on loans, notes,
mortgages, bonds, bank deposits,
and corporate bonds less
amortizable bond premium. For
installment sales, interest
received included amounts stated
in the contract and certain
unstated amounts of interest, as
provided in Code section 483.
Other Investments
This category generally included
long-term non-Government invest-
ments and certain investments for
which no distinction could be made
as to their current or long-term
nature. Non-Government invest-
ments generally not held for
conversion to another form within
the coming year included stocks,
bonds, loans on notes or bonds,
loans to subsidiaries, and other
types of financial securities.
Also included in this category
(except in table 30) were
investments unique to Domestic
International Sales Corporations
(Disc's), such as investments in
related foreign export corpora-
tions, Export-Import Bank obliga-
tions, and producer's loans.
Real estate not reported as a
capital asset could also be
included. In certain instances,
land and buildings owned by real
estate operators (except lessors
of real property other than
buildings), and real holdings of
insurance carriers, other than
their home office and branch
office buildings and equipment,
were reported as "Other
Investments."
In one respect the statistics
may be somewhat overstated.
Treasury stock Intended for resale
may have been reported as an asset
on some tax returns and if not
clearly identified as treasury
stock would have been included in
the statistics for "Other Invest-
ments." When these amounts could
be identified, they were trans-
ferred to the liability side of
the balance sheet statistics under
"Cost of treasury stock."
Other Liabilities
Other liabilities were obliga-
tions which were not allocable to
a specific account on the return
form balance sheet and which were
either noncurrent accounts, in
general not due within 1 year, or
accounts which could not be
identified as either current or
long-term.
Examples of other liabilities
were deferred or unearned income
not reported as part of a current
account, provisions for future
taxes based on the effects of
either accelerated depreciation or
possible Income tax adjustments
such as for the Investment credit,
and principal amounts of employee
and similar funds.
Other Receipts
Other receipts included amounts
not elsewhere reported on the
return form, such as: profits from
sales of commodities other than
the principal commodity in which
the corporation dealt; income from
minor operations; cash discounts;
Income from claims, license rights,
judgments, and joint ventures; net
amount earned under operating
agreements; profit from commissa-
ries; profit on prior years'
collections (Installment basis);
profit on the purchase of a corpor-
ation's own bonds; recoveries of
losses and bad debts previously
claimed for tax purposes; refunds
for the cancellation of contracts;
Corporation Returns/1974 • Explanation of Terms
207
and income from sales of scrap,
salvage, or waste. Also regarded
as other receipts were certain
dividends received, such as from
Federal Reserve and Federal Home
Loan Banks, and from the following
special classes of corporations:
China Trade Act corporations;
corporations deriving a large
percent of their gross income from
sources within a U.S. possession;
and tax-exempt charitable, educa-
tional, religious, scientific and
literary organizations, and mutual
and cooperative societies
including farmers' cooperatives.
For Domestic International Sales
Corporations (DISC's), other
receipts comprised all "nonquali-
fied" gross receipts reported on
the return except nonqualified
dividends. In addition, in the
case of DISC'S acting as
commission agents for someone
else, only the commissions earned
and not the underlying gross
receipts on which the commissions
were earned were included in the
statistics. Nonqualified gross
receipts thus took into account:
(1) sales of goods and services
for ultimate use or consumption in
the United States, (2) exports
subsidized by the U.S. Government,
(3) certain direct or indirect
sales or leases for use by the
U.S. Government, and O) sales to
other DISCS in the same controlled
group of corporations. (See also,
"Business Receipts.")
Overpayments Claimed as a Credit
This was the amount of over-
payment the corporation specific-
ally requested to be credited to
197^ estimated tax, in lieu of
requesting a refund in the prior
year. The credit is reflected in
the amount shown as estimated tax
payments .
Paid-in or Capital Surplus
This balance sheet item com-
prised additions to the corpora-
tion's capital from sources other
than earnings. These sources
included amounts of surplus
occasioned by donation,
appreciation of assets, receipts
from the sale of capital stock in
excess of stated value, stock
redemptions or conversions, and
similar transactions. The amounts
shown are after deducting any
negative amounts.
Part-Year Returns
Part-year returns were those
filed for accounting periods of
less than 12 months which ended in
the period July 197't through June
1975. Such returns were filed as
a result of business liquidations,
reorganizations, mef'gers, and
changes to new accounting
periods. Chart 1 in section 1
shows the percentage of returns
filed for each of the accounting
periods covered in this report.
Payments With Applications for
Extension of Filing Time
(Forms 7004 and 7005)
These statistics were derived
from the income tax returns rather
than from the application for
extension of time to file. Form
7004, and the application for
additional extension of time to
file. Form 7005, or their equiva-
lents. Corporations which filed
Form 7004 on time and paid the
required amount of tax liability
(tentatively determined) were
granted an automatic extension of
3 months in which to file returns.
A second extension (requested on
Form 7005) of 3 months could be
granted under certain conditions.
Requesting the extension of time
to file the return did not post-
pone the payment of tax. When an
extension was requested on Form
7004, at least half of the unpaid
balance of the tax liability
tentatively determined (taking
into account any credits against
tax, as well as any estimated tax
payments) was due. If the option
of paying the tentatively
determined tax liability on an
installment basis (with the
balance due on or before 3 months
after the regular filing date) was
not used, the entire amount was
due with the application. If a
second extension of time to file
was applied for, the balance of
any unpaid tax liability was due
at the time of the application.
The statistics may be slightly
understated because of taxpayer
reporting variations and because
of the inability to identify the
total amount from the tax returns.
Pension, Profit-Sharing, Stock
Bonus, and Annuity Plans
Contributions made by employers
to these plans were deductible
under Code section 404. The Code
imposed limitations on the amounts
deductible for the taxable year
and provided a carryover feature
for certain amounts paid in excess
of these limitations. Deductions
were also allowed for employer
contributions made to benefit
plans established for certain U.S.
citizens employed by foreign sub-
sidiaries and branches of domestic
corporations. The statistics for
this item include such amounts
identified in the cost of sales
and operations schedules. (See
also, "Employee Benefit Programs.")
Personal Holding Company Tax
In addition to being subject to
regular" income tax and additional
tax for tax preferences, corpora-
tions classified as Personal
Holding Companies were subject to
another tax equal to 70 percent of
their "undistributed Personal
Holding Company income."
Briefly, the term Personal
Holding Company was applied to
certain closely-held corporations
whose income was from passive
sources (generally investments and
personal service contracts) rather
than from the actual active
conduct of a trade or business.
The 70 percent tax was imposed on
the taxable income (especially
defined) from passive sources
reduced by amounts distributed to
owners.
Since most Personal Holding
Companies distributed all of their
Personal Holding Company income,
only a small number were actually
subject to the tax. In addition,
the tax is slightly understated
because the Personal Holding Com-
pany tax was not always reported
separately from the regular income
tax.
The tax appears in the statis-
tics for industries other than
"Holding and other investment
companies except bank holding
companies." This is because a
Personal Holding Company could be
a subsidiary included in a consoli-
dated return classified in some
other industry.
Refunds of Estimated Tax Payments
A corporation which had deter-
mined that it had overpaid its
estimated tax could have filed for
a quick refund or adjustment of
the overpayment even before it had
filed its return. To have done
so, the estimated tax overpayment
had to be at least $500 and be at
least 10 percent of the expected
"final" income tax liability
reported on the tax return.
The application for refund had
to be made within 2—1/2 months
after the close of the taxable
year and before the corporation
had filed its income tax return.
If the refund (or credit against
any other tax owed, in lieu of a
refund) was subsequently deter-
mined to be excessive, the tax on
the excess included an amount
determined at a rate of 6 percent
per year of the excess.
Rent Paid on Business Property
These deductions for ordinary
and necessary expenses consisted
of rents paid for the use of land
or structures; and rents paid for
208
Corporation Returns/1974 • Explanation of Terms
leased roads, rolling stock, and
work equipment for railroad
companies. Identifiable amounts
of taxes paid and other expenses
of lessees in connection with rent
paid were included in their
respective deduction headings.
Rents
These were the gross amounts
received for the use or occupancy
of property. Expenses related to
rental property such as deprecia-
tion, repairs. Interest paid, and
taxes paid were not deducted
directly from the rental income
but were reported as business
deductions fr^om total receipts.
The rental income of manufactur-
ing, public utility, and service
corporations which frequently
leased rathe"^ than sold their
products, was included in "Business
Receipts" rather than as rents.
Repairs
Repairs reported as an ordinary
and necessary business expense
were the costs of maintenance and
incidental repairs and could
include the cost of labor,
supplies, and other items which
did not add to the value or
appreciably prolong the life of
the property. Expenditures for
new buildings, machinery or
equipment, or for permanent
improvements which increased the
cost or basis of the property were
not deductible currently and were
charged to capital expenditures,
which were generally depreciable.
For the relatively few taxpayers
using the Class Life Asset
Depreciation Range (CLADR) system
(see the discussion under
"Depreciation under Class Life
Asset Depreciation Range (CLADR)
system" in this section), an
alternative method of computing
the deduction for repairs was
available when ambiguity existed
as to whether expenditures for
repairs, maintenance, rehabili-
tation, or improvement of
depreciable property could be
deducted in the year paid or
incurred, or had to be capitalized
and depreciated over the useful
life of the property. Under the
rules prescribed, all qualifying
expenditures within a given asset
guideline class were treated as
currently deductible repairs
provided they did not exceed the
"repair allowance." The repair
allowance for an asset guideline
class was based on the percentage
prescribed for that class applied
to the "average" cost or
unadjusted basis of "repair
allowance property" in that
class. Amounts in excess of the
percentage had to be capitalized.
Retained Earnings, Appropriated
Earnings set aside for specific
purposes and not available for
distribution to stockholders were
included under this heading.
Included were guaranty funds and
reserves for plant expansion, bond
retirements, and contingencies for
extraordinary losses. Specifi-
cally excluded were the reserves
for bad debts, for depreciation,
for depletion, and for
amortization, which were shown
separately; and, the reserves for
taxes, and unrealized profits or
unearned income, which were
includable in "Other liabilities."
Retained Earnings, Unappropriated
Retained earnings, unappropri-
ated consisted of the retained
earnings and profits of the
corporation less any reserves
(shown in the statistics as
"Retained earnings, appropriated").
The statistics shown are net
figures after deduction of any
negative amounts.
For Domestic International Sales
Corporations (DISC's), this item
included previously taxed DISC
income, undistributed DISC income,
and other earnings and profits.
Similarly, for electing Small
Business Corporations, this item
included earnings from before the
corporation's election as well as
earnings since the election, to
the extent that they had not yet
been distributed to the
stockholders .
Returns of Active Corporations
These returns were the basis for
all financial statistics presented
in the report. They comprised the
vast majority of the returns
filed, and were defined for the
statistics as returns of
corporations reporting any income
or deduction items.
Returns With Net Income
Returns with net income were
those showing gross taxable
receipts exceeding the ordinary
and necessary business deductions
allowed by the Code. (See "Net
Income (or Deficit) . ")
Returns Without Net Income
Returns without net income were
those for which ordinary and
necessary business deductions
exceeded gross taxable receipts.
In addition to deficit returns,
this classification also included
returns where gross taxable
receipts and business deductions
were equal. (See "Net Income (or
Deficit).")
Royalties
Royalties were payments
received, generally on an agreed
percentage basis, for the use of
property rights. Included were
amounts received from such
properties as copyrights, patents,
and trademarks; and from natural
resources such as timber, mineral
mines, and oil wells. The amount
reported was the gross amount
received. Expenses relating to
royalties, depletion or taxes, for
example, were not deducted
directly from this income, but
were reported among the various
business deductions from total
gross income.
Excluded from the statistics
were certain royalties received
under a lease agreement on timber,
coal deposits, and domestic iron
ore deposits, which were allowed
special tax treatment. Under
elective provisions of Code
section 631, the net gain or loss
on such royalties was included in
the computation of net gain or
loss on sales or exchanges of
certain business property under
section 1231. If the overall
result of this computation was a
net gain, it was eligible for
treatment as a long-term capital
gain, taxable at the capital gains
rates. If the overall result was
a net loss, it was fully
deductible in the current year as
an ordinary noncapital loss.
Size of Business Receipts
Size of business receipts was
based on the gross amounts from
sales and operations for indus-
tries except those in the Finance,
insurance, and real estate divi-
sion. For these industries, total
receipts, which is the sum of
business receipts and investment
income, was used as the basis for
classification.
Size of Total Assets
Size of total assets was based
on the amount reported in the end-
of-year balance sheet. Returns
with zero assets were used as a
classification for returns of (1)
liquidating or dissolving
corporations which had disposed of
all their assets and whose income
tax returns were final returns,
(2) merging corporations whose
assets and liabilities were
included in the returns of the
acquiring corporations, (3)
corporations filing a part-year
tax return because of a change in
accounting period, (H) foreign
corporations with income
effectively connected with the
conduct of a trade or business
within the United States (except
Corporation Returns/1974 • Explanation of Terms
209
foreign Insurance companies
providing balance sheet
information for U.S. branches).
(See also, "Total Assets and Total
Liabilities. ")
Small Business Corporation Returns
Form 1120S, U.S. Small Business
Corporation Income Tax Return, was
filed by corporations electing to
be taxed through stockholders
under section 1372 of the Code.
To qualify as a Small Business
Corporation, a firm had to be a
domestic corporation, with no more
than ten stockholders, each of
which was an individual (or an
estate) and no one of which was a
nonresident alien. The corpora-
tion could have only one class of
stock and could not be a member of
an affiliated group eligible to
file a consolidated return.
Moreover, the corporation could
not receive more than 80 percent
of its gross receipts from sources
outside the United States nor more
than 20 percent from passive
investments (interest, rents,
royalties, annuities, and gains
from the sale or exchange of stock
and securities). The 20 percent
passive income limitation did not
apply during the first 2 years of
business unless such income, for
the year in question, was $3,000
or more .
Net income of Small Business
Corporations was computed in the
same manner as for most corpora-
tions. The net operating loss
deduction and other statutory
special deductions allowed most
corporations, such as for
dividends received, could not be
taken. The electing corporation
was generally not taxed. However,
an existing corporation that
elected (under Code section 1372)
to become a Small Business
Corporation was subject to a
special capital gains tax for the
first 3 taxable years of the
election. On the other hand, a
new corporation which was an
electing Small Business Corpora-
tion for each year of its exist-
ence was not subject to the
special capital gains tax at all.
Foreign tax credit, investment
credit and work incentive (WIN)
credit were not available to the
corporation to reduce this tax
(although the cost of investment
credit property and WIN program
salaries and wages were allocated
to stockholders for their use in
computing the credits). Section
1378 of the Code provided that the
amount of the tax was the lower of
the amounts resulting from the
alternative tax rate applied to
the excess of net long-term
capital gain (reduced by net
short-term capital loss) over
$25,000 when net long-term capital
gains were more than 50 percent of
a net income that was over
$25,000, or the normal tax and
surtax rates applied to net income.
Generally, the income of the
Small Business Corporation was
taxable to its stockholders as
ordinary income. Net long-term
capital gains (reduced by any tax
paid on them by the corporation)
were not taxable as ordinary
income, but instead retained their
character in the hands of the
stockholders. Also, stockholders
were al lowed to deduct their share
of the corporation's deficit from
other forms of individual (or
fiduciary) income as part of their
net operating loss deduction.
Undistributed income earned in
previous years was taxable to
stockholders in the year it was
earned, and could be distributed
during the current year without
any further tax.
Statutory Special Deductions
Statutory special deductions is
the term used for the statistics
to describe the deductions for: (1)
net operating losses of prior
years, and (2) total "special
deductions" as defined by the
Code, i.e., the sum of deductions
for intercorporate dividends
received, for dividends paid on
certain preferred stock of public
utilities, and for Western
Hemisphere Trade Corporations.
Since these deductions were
allowed by law, in addition to
ordinary and necessary business
deductions, they are shown as
deductions from net income.
In general, net income less
statutory special deductions
equalled income subject to tax.
However, the two dividend
deductions were not restricted to
returns with net income, nor, in
general, to the amount of net
income and thus became part of the
statutory "Net operating loss" for
some corporations. Statutory
special deductions were not
allowed to Small Business
Corporations for which an election
was made to be taxed through
stockholders, nor to regulated
investment companies and real
estate investment trusts.
Although Domestic International
Sales Corporations (DISC's) were
not taxable, in order to compute
"tax deferred income and income
taxable to stockholders," two of
the statutory special deductions,
i.e., net operating loss deduction
and intercorporate dividends
received deduction, discussed
below, were allowed.
Definitions for the statutory
special deductions shown in the
statistics are as follows:
1 . Net operating loss deduction. -
The total net operating loss
deduction was based on statutory
net operating losses of prior or
subsequent years which could be
used to reduce taxable income for
a specified number of years. The
amount shown in this report,
however, consists only of losses
from prior years actually used to
reduce taxable income for 197**.
Losses incurred after 1974 and
carried back to that year at a
later date could not be reported
on the returns used for this
report. In general, losses were
carried back over a 3-year period
and any amount not offset against
income during that time could then
be carried forward against income
for a period not exceeding 5
years. Longer carryover periods
were allowed for certain foreign
expropriation losses, and for
corporations applying for tax
assistance under the Trade
Expansion Act of 1962, for
regulated transportation
corporations, and for new life
insurance companies.
Net operating losses upon which
the current-year deduction was
based included: (a) the excess of
ordinary and necessary business
expenses over income in the
previous loss years, and (b)
statutory special deductions
claimed in the loss year for
dividends received and for
dividends paid on certain
preferred stock of public
utilities (or any excess of such
deductions over net income).
The net operating loss deducted
for the current year was limited
to net income reduced, first, by
the deductions for dividends
received and for dividends paid on
certain preferred stock of public
utilities. Net operating losses
incurred by Domestic International
Sales Corporations (DISC's) were
deductible from not income only if
the DISC had been a corporation
prior to its election to become a
DISC and only for losses incurred
prior to the election. The
statistics are overstated to the
extent small amounts of net
operating loss deductions were
reported by DISC's without net
income.
For a "parent-subsidiary"
controlled group that had elected
separate surtax exemptions for
each group member under prior law,
but which had shifted to a single
group exemption and filed a
consolidated return 'onder subse-
quent law special provisions for
the treatment of net operating
losses of the individual group
members applied. The net
operating losses of such individ-
ual group members sustained in
years during which the election of
multiple surtax exemptions was in
210
Corporation Returns/1974 • Explanation of Terms
effect could be carried over and
deducted from consolidated net
income. (For groups that shifted
to a single exemption and filed
separate returns, such losses were
carried over and deducted only
against income of the corporation
that sustained the loss.) To
utilize this privilege the
controlled group had to waive
multiple surtax exemptions for the
loss year and subsequent years.
Further, the group had to file a
consolidated return for the
accounting period that included a
December 31 in the taxable years
for igTO-igTiJ. For part-year
returns not having a December 31,
the nearest December 31 was used.
2. Total special deductions. — The
total special deductions presented
in this report was the sum of the
following deductions:
a. Intercorporate dividends
received deduction. — The inter-
corporate dividends received
deduction, under Code sections
243-246, was the sum of the
following components:
(1) a deduction equal to 85
percent of dividends received from
domestic corporations which were
themselves subject to the income
tax. This particular deduction
accounted for the major portion of
the intercorporate dividends
received deduction. Since
Domestic International Sales
Corporations (DISC's) were not
subject to tax, the intercorporate
dividends received deduction was
not allowed for dividends received
by their stockholders. Howevei-,
if the dividends were paid out of
earnings and profits from a year
before the election was made to
become a DISC, the stockholders
were entitled to the deduction for
such dividends.
(2) a deduction equal to 85
percent of certain dividends
received from foreign corporations
(a) which had been engaged in a
trade or business within the
United States for at least 3
years, and (b) which also had at
least 50 percent of their gross
income effectively connected with
the U.S. trade or business.
(3) a transitional deduction
equal to 97.5 percent (for a tax
year that included December 31,
1971 in it, and 95 percent for a
tax year that included December
31, 1973 in it) of certain
intragroup dividends received
(qualifying under Code section
1554) allowed members of con-
trolled groups claiming multiple
surtax exemptions under section
1562. Beginning with the tax year
which included December 31, 1970,
the former rate of 85 percent was
gradually increased by 2.5 percent
increments per year for such
controlled groups so that for tax
years beginning after December 31,
1974, the deduction would be the
same 100 percent deduction
described below under (4). This
increase corresponded to the
gradual elimination of multiple
surtax exemptions over the same
period .
(4) a deduction equal to 100
percent of certain intragroup
dividends allowed members of
controlled groups not electing to
file consolidated returns, but
sharing instead, a single surtax
exemption under Code section 1561.
(5) a deduction equal to 100
percent of dividends received from
wholly-owned foreign subsidiaries
whose entire gr'oss income was
effectively connected with the
conduct of a trade or business
within the United States.
(6) a deduction equal to
60.2 percent of dividends received
on certain preferred stock of
public utilities for which a
dividends paid deduction,
described below, was also allowed
the distributing corporation. The
applicable percentage was based on
the income tax rate.
(7) a deduction equal to 100
percent of dividends received by
small business investment
companies.
For returns with net income for
the taxable year, there was a
limitation on the deduction, based
on net income, for dividends
received not subject to the 100
percent deduction (Code section
246). For these returns the
deduction could not exceed 85
percent of net income less any
Western Hemisphere Trade
Corporation deduction (described
below) and less any 100 percent
deduction for domestic intragroup
dividends. This limitation was
not applicable if the corporation
had no net income for the year.
In this case, the deduction became
part of the statutory net
operating loss previously
described.
b. Deduction for dividends paid
on certain preferred stock of
public utilities. — For public
utility companies, as defined by
law, a special deduction was
allowable under Code section 247
for dividends paid on certain
preferred cumulative stock deemed
issued prior to October 1, 1942.
This deduction, based on the
income tax rate, amounted to 29.2
percent of the dividends paid on
such stock.
If the dividends paid were
greater than net income reduced
(in general) by all other
statutory special deductions for
the year, the deduction could not
exceed the above-described
percentage of net income after
this adjustment.
c. Western Hemisphere Trade
Corporation deduction. — This
deduction was allowed certain
domestic companies which qualified
under section 921 of the Code.
These companies conducted almost
all of their business outside the
United States, but within the
Western Hemisphere. This special
deduction was computed at the same
percentage rate as described for
the deduction for dividends paid
on certain preferred stock of
public utilities.
Tax Deferred Income and Income
Taxable to Stockholders
This amount resulted from the
special tax deferral treatment
afforded Domestic International
Sales Corporations (DISC's). Such
corporations were not taxable
themselves; taxes were assessed,
instead, on their stockholders
which in most instances were
parent corporations. The amount
shown represents the DISC's net
income (less deficit) minus the
net operating loss deduction and
intercorporate dividends received
deduction. According to the
special tax provisions for DISC'S,
only one-half of this amount was
taxable to their parent corpora-
tions in the year earned; the
remaining half could be deferred
indefinitely. (See also,
"Domestic International Sales
Corporation Returns.")
Tax Due at Time of Filing
Tax due was the amount of income
tax liability reported as due at
the time the return was filed. To
show a tax due the return had to
have income tax after foreign tax,
investment, and work incentive
(WIN) credits. For this purpose,
the income tax included tax f^om
recomputing prior year investment
credit, tax from recomputing prior
year work incentive (WIN) credit,
additional tax for tax preferences,
and tax on undistributed Personal
Holding Company income. Tax due
based on this total tax was the
amount payable after taking into
account (a) credit for taxes
deemed paid by regulated
investment companies on undistrib-
uted capital gain dividends; (b)
payments with applications for
extension of time in which to
file; (c) payments on estimated
tax; and (d) credit for taxes on
special fuels, nonhi^way
gasoline, and lubricating oil.
The entire tax due could be paid
with the return at the time of
filing, or the corporation could
elect to pay the tax due in two
equal installments. One install-
ment had to be paid at the
prescribed time of filing. The
balance was due on or before 3
months after that date.
Corporation Returns/1974 • Explanation of Terms
211
The amounts shown do not reflect
adjustments made after the return
was filed. The results of tax
audit, the carryback of net
operating losses, the carryback of
foreign taxes paid or accrued in
future years, the carryback of
unused investment credit, or the
carryback of certain capital
losses, may affect the final tax
liability and the tax due.
Tax From Recomputing Prior Year
Investment Credit
This tax, a recapture of
investment credit, resulted when
depreciable property used in
computing the investment credit of
a prior year was disposed of
before the useful life assumed at
the time that the investment
credit was originally computed.
The tax was payable for the year
in which the property was disposed
of and amounted to the difference
between the credit originally
claimed based on the intended life
in the year of acquisition and the
credit that would have been
allowed based on the actual life
in the year of disposition. Under
the Revenue Act of 1971, useful
life classes for investment credit
were shortened for property
acquired after August 15, 1971.
The revised useful life classes
applied to investment credit
property disposed of after this
date even if the property was
acquired (and credit claimed)
using the longer useful life
classes specified under prior law.
Recapture of investment credit
was also required after August 15,
1971, when investment credit
property was disposed of by reason
of casualty or theft, or if 5-year
rapid amortization in lieu of
depreciation was subsequently
elected for the property for which
credit had been claimed earlier.
Unless otherwise indicated, tax
from recomputing prior year
investment credit is included in
the statistics for "Income tax" in
this report.
Tax From Recomputing Prior Year
Work Incentive (WIN) Credit
This tax was based on the WIN
credit provisions of the Revenue
Act of 1971, effective with
taxable years beginning on or
after January 1, 1972. A
"recapture" of the credit was
required whenever an employer who
had claimed the credit in a prior
year (1) terminated without cause
the employment of an employee
hired under the WIN program, or
(2) failed to pay a WIN employee
wages comparable with non-WIN
employees for the same services.
Generally, if the WIN employee's
employment did not last at least
24 months, the WIN credit had to
be paid back, even though a WIN
credit could be taken for only the
first 12 months of employment.
Unless otherwise indicated, tax
from recomputing prior year work
incentive (WIN) credit is included
in the statistics for "Income Tax"
in this report.
Tax Overpayment
This was the amount reported as
the excess of payments and credits
for the tax alr-eady paid over total
income tax liability at the time
the, return was filed. For this
purpose, the income tax liability
included tax from recomputing
prior year investment credit, tax
from recomputing prior year work
incentive (WIN) credit, additional
tax for tax preferences, and tax
on undistributed Personal Holding
Company income and was after
reduction by the foreign tax,
investment, and work incentive
(WIN) credits. Overpayment then,
was the excess of payments and
credits over total tax liability
after taking into account (a)
credit for taxes deemed paid by
regulated investment companies on
undistributed capital gain
dividends; fb) payments with
applications for extension of time
in which to file; (c) payments on
estimated tax; and (d) credit for
taxes on special fuels, nonhighway
gasoline, and lubi^icating oil.
The overpayment could be
credited toward the following
year's estimated tax, refunded, or
partially refunded and partially
credited. Some taxpayers,
however, failed to indicate the
way in which the overpayment was
to be treated.
The amounts shown do not reflect
adjustments made after the return
was filed. The results of audit,
the carryback of net operating
losses incurred in future years,
the carryback of certain foreign
taxes paid or accrued in future
years used to increase the current
year foreign tax credit, the
carryback of unused investment
credit or unused WIN credit, or
the carryback of certain capital
losses, may affect the final tax
liability and the tax overpayment.
Since Domestic International
Sales Corporations (DISC's) had no
tax, tax overpayment reported on
Form 1120-DISC consisted solely of
the refund of U.S. excise tax on
special fuels, nonhi^way
gasoline, and lubricating oil.
Taxes Paid
Taxes paid included the amounts
reported as an ordinary and
necessary business deduction as
well as identifiable amounts
reported as part of the cost of
goods sold and operations
schedules. Included among the
deductible taxes were ordinary
State and local taxes paid or
accrued during the year; social
security and payroll taxes;
unemployment insurance taxes;
import and tariff duties; and
business, license and privilege
taxes. Income and profits taxes
paid to foreign countries or U.S.
possessions were also deductible
unless claimed as a credit against
income tax. Not deductible were
such taxes as Federal income and
excess profits taxes, gift taxes,
taxes assessed against local
benefits, and Federal taxes paid
on interest from tax-free covenant
bonds.
Some corporations included sales
taxes and excise and related
taxes, which were part of the
sales price of their products, as
receipts. When this occurred, an
equal and offsetting amount was
usually included in the cost of
sales and operations or as part of
the separate deduction for taxes
paid. Whan included in tne cost
of sales and operations, these
taxes often were not identifiable
and therefore could not be
included in the statistics for
taxes paid.
Tax Preference Items
These items constituted the
basis (after adjustments described
under "Additional Tax for Tax
Preferences") upon which the 10
percent additional tax for tax
preferences (or "minimum tax") was
levied. They comprised various
kinds of tax-favored income and
deductions, which, in effect,
provided corporations with
nontaxable "economic" income.
In general, the tax preference
items were attributable to U.S.
sources. However, the capital
gain preference (described below)
included amounts from foreign
sources if they were not subject
to foreign taxation, or if the
foreign tax was a preferential
one. Other items attributable to
foreign sources were treated as
preferences only to the extent
they reduced U.S. taxable income.
For Small Business Corporations
electing to be taxed through their
stockholders, all of the tax
preference items described below
were reported, but only the
capital gain preference was
taxable to the corporations
themselves. The other items were
taxable only to the stockholders
of such corporations.
Items included as tax
preferences were:
(1) Accelerated depreciation
(depreciation in excess of the
212
Corporation Returns/1974 • Explanation of Terms
amount computed under the straight
line-method) allowed on (a)
low-income rental housing, (b)
other real property (defined in
Code section 1250), and (c)
personal property (defined by
section 1245) subject to a net
lease. The tax preference in
connection with personal property
subject to a net lease did not
apply to corporations other than
Personal Holding Companies and
Small Business Corporations
electing to be taxed through their
stockholders.
(2) Amortization of (a)
certified pollution control
facilities, (b) railroad rolling
stock, (c) on-the-job training
facilities, and (d) child care
facilities. The tax preference
was the excess of these special
rapid write-offs over what other-
wise would have been a deprecia-
tion deduction under section 167.
(3) Reserves for losses on bad
debts of financial institutions.
Financial institutions (mostly
banks and savings and loan
associations) ware allowed
deductions for additions to a
reserve for bad debts under
prescribed rules. When these
deductions exceeded amounts based
on the actual bad debt loss
experience of the institution (or
in the case of a new company,
industry experience), the excess
was considered a tax preference.
(The appearance of this preference
for other than finance division
corporations was caused chiefly by
the filing of consolidated returns
that included finance
subsidiaries. )
(M) Depletion. The excess of
the depletion deduction over the
cost or other basis of the
property (reduced by depletion
taken in prior years) was a tax
preference.
(5) Capital gains. This tax
preference was based on the excess
of net long-term capital gain over
the net short-term capital loss,
when these net gains were taxed at
the special lower capital gain
rate. The amount treated a^s a
preference was this amount
multiplied by a ratio of the
regular tax rate of 48 percent
less the rate applicable to
capital gains (generally 30
percent for 1974 ) to the regular
corporate rate of 48 percent.
This was the only tax preference
for which Small Business
Corporations electing to be taxed
through their stockholders (Form
1120S) may have been liable (see
the discussion under "Small
Business Corporation Returns" in
this section). Tax preferences
for these corporations were
ordinarily passed on to the
stockholders for taxation.
Regulated investment companies and
real estate investment trusts also
included capital gains as a tax
preference but only to the extent
that such gains were not passed on
to their stockholders.
Tentative Investment Credit
Tentative investment credit
represented the earned credit
before taking into account the
statutory limitations based on the
size of income tax. For most
corporations, the tentative credit
was equal to 7 percent of
investment qualified for credit,
an amount based on the cost of
certain depreciable purchases and
designed to give weight to
longer-lived assets. (See
"Investment Qualified for
Credit.") An exception was made
for investment in certain public
utility property. The law
specified that for such property
the otherwise qualified investment
should be reduced to four-sevenths
of the total amount. As a matter
of practical computation, however,
the full qualified investment was
usually reported, and a 4 percent
rate substituted for the 7 percent
rate in order to obtain the legal
tentative credit. See the
facsimile of Form 3468 in section
Total Assets and Total Liabilities
Total assets and total
liabilities were those reported in
the end-of-year balance sheet in
the corporations' books of
account. Total assets were net
after reduction by accumulated
depreciation, amortization, and
depletion, and by the reserve for
bad debts. When these reserves
were reported as liabilities, they
were treated as reductions from
the asset accounts to which they
related and the totals of assets
and liabilities were adjusted
accordingly. In addition, total
liabilities were net after
reduction by the cost of treasury
stock. Moreover, when treasury
stock intended for resale was
identified in "Other investments"
on the asset side of the balance
sheet , it was moved to the
liability side for the statistics,
and the totals of assets and
liabilities were also adjusted.
Asset and liability estimates
for returns of corporations that
failed to provide complete balance
sheet information were obtained
from other schedules on the return
form and from relationships
between income statement and
balance sheet items on similar
returns in the same industrial
group.
Because Forms 1120L and 1120M
used by life and certain mutual
insurance companies did not
provide for the complete reporting
of balance sheet information,
asset and liability data for these
companies were obtained from
reference books or from balance
sheets filed with the returns in
the form required by State law.
These sources were also used for
any other insurance companies, not
filing returns on Forms 1120L or
1120M, which filed balance sheets
in the form required by State law
in lieu of the income tax return
schedule. (See also, "Size of
Total Assets.")
Total Deductions
As derived for the statistics,
total deductions comprised (1) the
cost of sales and operations, (2)
the ordinary and necessary
business deductions from gross
income, and (3) net loss from
sales of noncapital assets.
Components of total deductions are
shown in the income statement
segment of tables 2, 3, 4, and 5.
For certain mutual insurance
companies, with total receipts
under $500,000, total deductions
represented only investment
expenses; business expenses were
excluded by law.
Total Receipts
The components of total receipts
are shown in the income statement
segment of tables 2, 3, 4, and 5.
This computed amount was derived
for the statistics as follows:
Included items — (1) Gross
taxable receipts (before deduction
of cost of sales and operations
and net loss from sales of
noncapital assets), and (2)
Nontaxable interest received from
State and local Government
obligations.
Excluded items — (1) Other
nontaxable income recognized by
the corporation, and (2) Certain
taxable income from related
foreign corporations only
constructively received.
For certain mutual insurance
companies, with total receipts
under $500,000, the gross taxable
receipts included in the statis-
tics represented only the receipts
from investments; operating income
was excluded by law.
Total Receipts Less Total
Deductions
This item differed from net
income for tax purposes in that it
included nontaxable "Interest on
Corporation Returns/1974 • Explanation of Terms
213
state and local government
obligations" and excluded
"Constructive taxable income from
related foreign corporations."
Unused Investment Credit
This was the portion of the
tentative investment credit (plus
the carryover of unused credit
from prior years) which was in
excess of the actual investment
credit claimed for 1971. Subject
to limitations, the unused credit
could be car-^ied back or carried
over for use in other years as
described under "Investment Credit
Carryover. "
In general, the amounts shown in
the statistics were computed on a
return by return basis by taking
the difference between the credit
claimed and the sura of the
tentative credit and the credit
carryover.
Work Incentive (WIN) Credit
This credit was intended to
expand job opportunities for
persons participating in the
Federal Work Incentive (WIN)
program which was designed to
provide job opportunities for
welfare recipients and to make
participants ready for the jobs
when the jobs were ready for
them. Taxpayers that were engaged
in a trade or business and that
hired participants in the WIN
program were allowed a credit
against their income tax liability
for 20 percent of the WIN program
expenses; i.e., salaries and wages
that were paid such persons in
taxable years beginning after 1971
for services performed during
their first 12 months of employ-
ment (whether or not the 12 months
were consecutive).
To qualify as WIN program
expenses, salaries and wages must
have:
(1) been paid to employees
certified by the Secretary of
Labor as being from the WIN
program and the employees could
not have displaced any individual
from employment.
(2) consisted entirely of cash
remuneration.
(3) been paid or incurred:
(a) for services rendered
during the first "2 months of
employment. (Although the
employee must have been employed
for at least 24 months, the first
12 months could span a 24 month
period, after which, the employee
must have been employed for 12
months consecutively.)
(b) in the employer's trade or
business.
(4) not been less than wages
paid to the non-WIN employees
performing comparable services.
(5) not been reimbursed to the
employer. (If so, the expenses,
for credit purposes, were disre-
garded to the extent of the
reimbursement. )
(5) not been paid or incurred:
(a) for employment outside the
United States.
(b) after the end of the 24
month period beginning with the
first day of the employee's
employment. (The employee's total
months of employment must have
equalled 12 on or before the end
of this period.)
(c) to an ineligible
individual. (In the case of
corporations, an employee who
owned directly or indirectly more
than 50 percent of the value of
the corporation's stock; or was a
relative of such an employee. )
The credit for salaries and
wages paid was tentative, in that
it represented earned credit
before considering the impact of a
limitation based on the presence
or size of income tax. The WIN
credit was applied against tax
liability that had first been
reduced by foreign tax and invest-
ment credits, respectively. Tax
which could be reduced by the
credit did not include tax from
recomputing a prior year invest-
ment credit, tax from recomputing
a prior year WIN credit, addi-
tional tax for tax preferences.
Personal Holding Company tax, or
the special capital gains tax on
Small Business Corporations. When
applied against tax, the WIN
credit was limited. For a given
year it could not exceed $25,000
plus 50 percent of tax in excess
of $25,000. The limitation was
uniquely applied to members of
controlled groups (as defined by
Code section 1563) in that the
$25,000 cutoff applied to the
group as a whole and, thus, had to
be apportioned among the component
members of the group when separate
tax returns were filed for each
member .
For Small Business Corporations
electing to be taxed through their
stockholders, WIN program expenses
for each taxable year were
allocated pro rata among those
persons who were stockholders on
the last day of the taxable year
for use in computing their own WIN
credit.
Further, if the WIN program
participant was involuntarily
terminated at any time during the
first 12 months of employment or
before the close of the 12th
calendar month of employment
thereafter, any WIN credit taken
for that particular participant
had to be recaptured. The
recapture resulted in an increase
in the employer's income tax
liability, for the year of the
termination, by the amount of the
disallowed WIN credit.
Unused WIN credit, the amount in
excess of the limitation based on
the size or presence of tax, could
be carried back or forward for use
in other years. The unused WIN
credit had to be first carried
back 3 taxable years or to the
earliest applicable taxable year
(i.e., only to a taxable year
beginning after December 31, 1971)
and then any unused amount
remaining was to be carried
forward 7 taxable years or until
the credit had been exhausted.
The unused credit carryback and
carryover could be used to reduce
any income tax liability for years
to which it was carried provided
it was within the limitation based
on size of tax for that year.
Zero Assets
Included in this "asset size"
category were:
(1) final returns of liquidating
or dissolving corporations which
had disposed of all assets,
(2) final returns of merging
corporations whose assets and
liabilities were reported in the
returns of the acquiring corpo-
rations,
(3) part-year returns of corpora-
tions which changed accounting
periods, and
(4) returns of foreign corpora-
tions with income "effectively
connected" with the conduct of a
trade or business in the United
States (however, foreign insurance
company returns with balance sheet
information for U.S. branches were
classified by the size of their
U.S. branch assets).
Section 4
Description of
the Sample
and Limitations
of the Data
SAMPLE CRITERIA AND SELECTION OF
RETURNS
The data presented in this
report are estimates based on
stratified probability samples of
corporation income tax returns
selected before audit. The
corporation population from which
the samples were drawn contained
the following types of returns:
(1) Form 1120— U.S. Corporation
Income Tax Return
(2) Form n20L— U.S. Life
Insurance Company Income Tax Return
(3) Form 1120M— U.S. Mutual
Insurance Company Income Tax Return
(h) Form 1120S— U.S. Small
Business Corporation Income Tax
Return
C5) Form 1120F~U.S. Income Tax
Return of Foreign Corporation
(6) Form 1120-DISC — Domestic
International Sales Corporation
Return
Returns not included in the
corporation population were, for
the most part, those in the Form
990 series filed by nonprofit, and
therefore, tax-exempt corporations.
The estimates were intended to
represent data of returns filed
for the 1974 taxable year, i.e.,
returns with accounting periods
ended July 197** through June
1975. Nearly all of the sampled
returns were for this period and
were revenue processed during
197'<, 1975 and 1976. However,
delinquent returns for prior
years, revenue processed during
this same period, were included in
the sample to compensate for
current-year returns filed after
the cutoff date for the receipt of
sample returns for this report.
Sample rates ranged from 0.8 to
100 percent depending on the year
sampled, the type of return, size
of total assets, and size of net
income Cor deficit) for Forms
1120, 1120L, n20M, 1120S, and
1120F. For Form 1120-DISC
returns, rates were dependent upon
size of total assets of the
majority corporate stockholder and
size of gross receipts from
Schedule N ("Gross export receipts
of DISC" in the statistics).
The selection of the returns in
the sample was based on the
classification shown in table F.
Table G shows the number of
returns filed, the number in the
sample and the sampling rate for
each of the sampling classes
described in table F. All sample
returns, except those for Domestic
International Sales Corporations
(Disc's), were computer selected
from the Internal Revenue Service
Business Master File system on the
basis of a systematic design of
randomly designated ending digits
of the Employer Identification
Number. (These numbers were used
for revenue processing in the
Master File system. ) Since Form
1120-DISC returns were not
included on the Master File, they
were manually sampled using the
same system of ending digits.
Returns were sampled when they
were received without regard to
their accounting periods.
Separation of the returns into the
appropriate income year based on
accounting periods was
accomplished during statistical
processing. Sampling rates were
generally set for the calendar
year in which returns were
received without regard to the
Table F.— Corporation Return Sample Selection Classes, 1974
Sample class number by lype
o( relufn and by year sampled
Sample class description
Before
Jan 1975
During 1975
After
Dec 1975
Sue ol total assets
Size of net income
or deficit
Sue of total
sales receipts
(11
i2)
(3)
(4)
(5)
(6)
FOfms '120 1120S
Under S50 000
S50.000 under SlOO.OOO
S100 000 under S250.000
5250 000 under 5500,000
S500 000 under 51,000.000
Si 000 000 under 55 000,000
55.000,000 under 510,000,000
Si0.000.000 or more and not controlled by lull EiN
510 000,000 or more and conlrolled by lull EIN
Any .KiLiual and nol LnoItiillcO by U>ll UN
Any amount and conlrolled by lull EIN
Any amount
Any amouni
Under 525 000
525,000 under 550 000
S50 000 under S100 000
SlOOOOO under 5250,000
5250,000 under S500 000
5500,000 under 5750,000
5750,000 under 51 000.000
51000.000 or more
51.000,000 Of more
Any amouni
Any amount
Any amount and nol controlled by lull £IN
Any amouni and controlled by lull EIN
Any amouni
Any amount
13
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3
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5a
6a
7
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8b
lb
2b
3
Jb
5b
6a
7
Ra
Mb
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2b
3
4&
5b
6t)
7
83
Any amount
Any amoun!
Any amount
Any amount
Any amouni
Any amouni
Any amouni
Any amouni
Any amount
Forms n20L M including PIA Ind 6355 635c on Fo-m 1!20F
9a
9b
9a
9b
9a
9b
Any amount
Any amount
Fo-m 1120F,- eiCloding PIA Ind 6355 6356
lOa
10b
103
10b
10a
10b
Any amouni
Any amount
Form H?0.DISC
S'ze ol lolal assets of maidr.iy corporate sioc«r>oiOers
11
12
i:
12
Under 5250,000 000'
5250,000,000 Of more
Under SlOOOOOOO
510,000 000 or more
'Returns are classified according to eitrier size of total assets, net income or deficit, or size of total sales receipts, wfiictie»/er puis the sample class code number higher
'Heturns with income not eflectively connected with a US business are included in the sample to lacilitate Form 1 1 20F selection, although not processed for the sample
215
216
Corporation Returns/1974 • Sample Description and Data Limitations
Table G.
—Corporation
Returns: Number Filed, Number In
Sample, Prescribed
and Achieved
Sampling
Rates, by Sample Class, 1974
Income Year
Sample class'
Number of returns
Samplrng rales
Fried
In sample
Prescribed
Achieved
(1)
|2|
131
HI
Total
2.056.622
104010
10
086
la
lb
74.724
823.644
642
6.552
10
08
086
oeo
2a
2b
27.220
284.910
329
3.269
15
1 1
121
1 15
3
374390
6 706
20
1 79
16035
188.508
710
7779
5.0
40
4b
4 13
8.043
1 1 1 222
693
8812
100
eo
5b
7 92
6a
6b
87606
6476
26 104
1.461
30 0
25 0
29 80
22 56
7
14 832
5031
8a . .-
22665
5.254
2618
348
22 665
5.254
2.618
348
100 0
1000
1000
10O0
8b
9b
(1
10a
lOb
2208
84
2.208
84
10O0
1000
11
11
12
5.149
686
2.059
666
400
100 0
39 99
PI
'See table F lor Sample Class Descnplions
'Not applicable, since population is assumed to be equal to number ol relurns sampled at the 100 perceni rate Total returns tiled, however, includes ditterences between population and sample in the 100 percent
sampling rale caleqories
accounting period. Therefore, if
the rate was changed from one
calendar year to the next for a
particular sample class, that
class would have more than one
sampling rate. Table G shows
prescribed and achieved sample
rates for each sample class.
These prescribed and achieved
rates differ because the
distribution of Employer
Identification Number ending
digits fluctuates from year to
year. As a result of this
fluctuation, not all of the
designated returns are always
found in time for inclusion in the
sample.
Returns were classified
according to either size of total
assets or size of net income (or
deficit), whichever placed them in
the sample class having the higher
code (class number). For example,
in table F, a Form 1120 return
with total assets of $750,000 and
net income of $75,000 would be in
sample class 5 rather than in
sample class 3 since the higher
class number was selected in
accordance with the rule above.
METHOD OF ESTIMATION
The totals for the number of
returns filed were the result of
computer tabulation of all the
returns processed in each of the
ten Internal Revenue Service
Centers. To make sure the sample
plan was working, a comparison was
made between the expectetj and
realized number of sample returns
in each of the Service Centers and
differences were reconciled by
follow-up.
Sampling weights were attained
by dividing the number of returns
filed per sample class by the
number of sample returns for the
stratum. All sampling weights
were then converted to "integer
weighting factors" which were
applied to each sample return.
For example, if a factor of 19.32
was computed for a stratum, 32
percent of the returns in the
stratum were systematically given
a weighting factor of 20 and 68
percent, a we luting factor of 19.
Column (1) of table G shows the
number of returns which were
subject to sampling. A comparison
of the total number of returns
(1,965,894) in column ( 1 ) of table
1 with the total number of returns
filed (2,056,622) in column (1) of
table G shows a difference of
90,728. This difference occurred
for the following reasons: (1)
77,102 returns with neither income
nor deductions were classified as
returns of inactive corporations
(although inactive corporations
are excluded from most tables they
are shown separately in table B),
and (2) the remaining 13,625 were
chiefly amended returns not
associated with the original
return (the original return was
already subject to sampling) or
tentative returns not associated
with a revised return (the revised
return was subject to sampling).
Other returns were excluded for
conceptual reasons. Examples were
returns of:
(1) foreign corporations whose
income was not effectively
connected with a U.S. trade or
business,
(2) mutual insurance companies
apparently exempt from tax, but
that filed nevertheless, on Form
1120M, and
(3) certain foreign corporations
exempt from U.S. tax under
reciprocal treaty arrangements.
SAMPLING VARIABILITY
The coefficient of variation is
the standard deviation (sampling
variability) of the estimate
expressed as a percent of the
estimated value. The standard
deviation, when added to and sub-
tracted from the value, provides
(for normally distributed
estimates) the computed upper and
lower limits within which
approximately two out of three
estimates derived from similarly
selected samples would be expected
to fall. Coefficients of
variation of selected estimates
based on the sum-of-the-squares
method, are shown in table 1.
Table H provides coefficient of
variation estimates for frequency
(but not amount) estimates in
general; however, where
applicable, the more precise
coefficients of variation shown in
table 1 for selected frequency
estimates should be used. The
coefficient of variation estimates
shown in table H are based on an
"upper limit" formula and tend to
be overstated. Thus, for example,
table 1 in this report shows that
the total number of returns for
"Eating and drinking places" under
"Retail trade" was 76,601, with a
corresponding coefficient of
variation of 3.4. The coefficient
of variation estimate found in
column (8) of table H for 75,000
returns is 4.1.
The coefficients of variation in
table H may be used as rough
estimates for the coefficients of
variation which apply to amounts
associated with frequencies.
Corporation Returns/1974 • Sample Description and Data Limitations
217
Table H.— Coefficient of Variation of Estimated Number of Returns, 1974
Tables classrfied by sue ol tolal assels
Tables not
SJie ot lolal assets
classified by
size of total
Eslimaled number
of returns
Under
$100,000
SIOO.OOO
under
5250.000
under
S500.000
under
$1,000,000
under
55,000,000
under
110.000,000
assels.
etcluding
S250.000
S500.000
11,000.000
$5,000,000
110,000,000
or more
Form
11 20- DISC
(11
(21
131
(<l
151
|6|
(7)
(8)
IPercent)
200
\i
I'l
34 6
24 5
1J 1
100
!')
l'>
300
(')
1 )
28 3
20 0
11 5
8J
CI
I'l
<00
(')
CI
24 5
173
loa
I'l
C)
500
(1
33 2
219
155
89
63
CI
C)
600
il
30 3
200
14 1
82
58
CI
C)
700
It
28 0
185
13 1
76
CI
CI
800
ft
26 2
173
122
7 1
CI
CI
900
ft
24 7
16 3
115
67
C)
I'l
1,000
11
23 5
155
110
63
C)
I'l
1200
32 3
214
14 1
10 0
58
CI
32 3
1400
299
198
13 1
93
53
CI
29 9
1,600
26 0
18 5
122
87
50
CI
28 0
1,800
26 4
175
115
82
47
CI
26 4
2,000
250
166
110
77
45
CI
25 0
2,500
224
14 8
98
69
40
CI
22 4
3000
204
135
89
63
37
CI
20 4
4,000
177
11 7
77
55
32
CI
177
5.000
158
10 5
69
49
28
CI
158
7,000
134
89
59
4 1
24
CI
13 4
10000
112
74
49
35
20
CI
112
15.000
91
61
40
28
16
12
CI
9t
25.000
71
47
31
22
13
09
CI
7 1
35.000
60
40
26
1 9
1 1
CI
60
50.000
50
33
22
1 5
09
CI
50
75.000
4 1
27
18
13
07
CI
4 1
100.000
35
23
15
1 1
06
CI
35
150 000
29
19
13
09
CI
29
250.000
22
15
10
II
C)
22
500 000
16
to
II
I'l
CI
16
700.000
13
(')
C)
1)
'■i
1 3
1.000.000
1 1
CI
II
11
CI
1 1
1.500000
t)
1'
l-l
II
CI
09
2000.000
(■]
It
II
t 1
CI
08
'Includes zero a&selsand assets nol reported iForms 1 120 S L M and Fi
' Including Form 1 120 DISC tables not classified by size ot total assels ot parent corporation
'Coetticient ol variation exceeds Government standards tor acceptable estimates
'CoelticienI ot variation is zero since returns are sampled completely
Not applicable since the estimated number ot returns exceeds the population estimates
NOTE Method ot Interpolation Divide the estimate by 100, look up the C V in the same column divide the result by 10 Example 60,000 returns Assets 5250,000 under S50O 000 Look up 600 C V
C V 2 0 percent
20 0 percent Divide by 10
Because of the predominant effect
of large corporations on the
statistics, the coefficient of
variation of an associated amount
can be larger if there is a
negligible number of large
corporations included in a table
cell and if the dollar amount of
the item measured in the cell
varies considerably from return to
return.
Numbers of returns (frequencies)
and money amounts considered to
exceed acceptable sampling
variability limits were treated in
either one of two ways. They were
either (1) combined with other
groups of returns so that the
combined coefficient of variation
was within acceptable limits, or
(2) deleted and noted by an
asterisk in the body of the table
but included in the appropriate totals.
A dash in place of a frequency
or amount indicates that: (1) if
returns were sampled at a rate of
100 percent, no returns had the
particular characteristic; or (2)
if returns were sampled at a rate
less than 100 percent, either no
returns in the population had the
characteristic or the character-
istic was so rare that it did not
appear on any sample returns.
SAMPLE MANAGEMENT AND PROCESSING
(XNTROLS
Sample and population counts of
corporation returns were made by
computer and were normally free
from error. Sample counts were
verified during statistical
processing to minimize loss of
data. Because of their impact on
the statistics, inclusion of
returns of the largest corpora-
tions was verified by controlling
these companies on a name basis.
Incorrect or missing entries
were corrected during statistical
editing to make them consistent
with other entries on the return
or accompanying schedules. Data
were also adjusted during
statistical editing in an attempt
to achieve consistent or
statistical definitions.
In transcribing and tabulating
the information from the returns
in the sample, additional checks
were imposed to improve the
quality of the resulting estimates.
Quality of the basic data
abstracted at the processing
centers was controlled there by
means of a continuous subsampling
verification system. In addition,
the Statistics Division in the
National Office conducted an
independent reprocessing of a
small subsample of the returns
statistically processed in the
field as a further check on the
processing. Prior to tabulation,
numerous computer tests were
applied to each return record to
assure that proper balance and
relationships among return items
were maintained.
Finally, prior to publication,
all statistics and tables were
reviewed for accuracy and reason-
ableness, in light of provisions
of tax laws, taxpayer reporting
variations and limitations,
economic conditions, comparability
with other statistical series, and
statistical techniques used in
data processing.
However, the controls maintained
over the selection of the sample
returns, the processing of the
source data, and the review of the
statistics did not completely
eliminate the possibility of
error. Also, practical operating
considerations necessitated
allowance of reasonable tolerance
in the statistical processing of
the data. Similarly, data were
usually edited from the tax return
in thousands of dollars to facili-
tate statistical processing.
Vfhile it is felt that this did not
affect the overall quality of the
data, for certain data this
resulted in some irregular
relationships.
Section 5 Forms and
Instructions,
1974
Contents
Form 1120
U.S. Corporation income tax
return, 220
Form 1120 (Revised)
U.S. Corporation income tax
return, 226
Schedule D, Form 1120
Capital gains and losses, 232
Form 11 20 -DISC
Domestic international sales
corporation return, 233
Form 1120F
U.S. income tax return of a
foreign corporation, 240
Form 1120L
U.S. Life insurance company income
tax return, 247
Schedule D, Form 1120L
U.S. Life insurance company sales
or exchanges of property, 254
Form 1120M
U.S. Mutual insurance company
income tax return, 256
Form 1120S
U.S. Small business corporation
income tax return, 262
Schedule D, Form 1120S
Capital gains and losses, 267
Form 3468
Computation of investment credit,
268
Form 4626
Computation of minimum tax, 269
Form 4874
Credit for wages paid or incurred
in work incentive (WIN) program,
270
Form 1120-FY
Corporation fiscal year tax
computation schedule, 271
219
220
Corporatron Relurns/1974 • Forms and Instructions
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Corporatron Returns/1974 • Forms and Instructions
221
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222
Corporation Returns/1974 • Forms and Instructions
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Corporation Returns/1974 • Forms and Instructions
255
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1
(a) Gain on property held on December 31.
1958— Section 8l7(b)(li. in effect, limits
the amount ol gam that is to be recogniied
on the sale or other disposition of certain prop
erty held by the company on Oetember 31 195B
This IS accomplished by treating the gam on the
sale or other disposition ol such property as an
amount (but not less than zero) equal to the
amount by which Ihe Ram (determined yvithout
regard lo se«ion 817(b)(1)) e.ceeOs the dilfer-
ence between the fair market value on December
31, 1958, and the adiuiled basis (as provided in
section iOI6(a}) lor determining gam as of such
date. This limitation on the amount ol gam rec-
ognized applies only if (I) the property was held
by a life insurance company on December 31.
1958. (2) Ihe lair market value ol Ihe property
on December 31. 1958. is greater than the ad-
justed basis for delermmmg gam as of that date,
and (31 the ta.payei has been a hie insurance
company at all tunes on and alter December 31,
1958. until the date of sale or olhei disposition
of the property
(b) Certain lubstltuted property acquired
alter December 31, 1958— See section 817(b)
(2)CAi through (t) lor certain rules for such
proccrty
Section 8I7(bl(3) provides that Ihe term
■property" (lor purposes ol (3) and (b). above)
does not include insurance and annuity con
tracts (and contracts supplementary thereto)
and property described In sectmn l^?l(l) (re
lating to slock in trade or mvunlory type prop-
(c) Property held on December 31, 1958,
December 31. 1958. — In delermmmg loss for
such property (described In (a) and (b), above)
the basis is cost adiusted as provided by sec
lion 1016.
(d) Other property acquired aHer December
31, 195B.— Where property. Othei Ihan property
dtsfnbed in (b) above, was purchased after
December 31. 1968, the basis is cost, adjusted
as provided m section 1016. Where property was
acquired by bequest, gift, involuntary conversion,
or wash sale of slock, see sections lOM, 1015,
1033, and 1091. respeclively-
(e) II a charitable contribution deduction is
allowed by reason of the sale of property to a
Charitable organiiation. the adjusted basis lor
delermmmg gam Irom the sale is an amount
which IS in Ihe same ratio to the ad|usted basis
as Ihe amount realized is to the fan market
value of the property
PART III
Allernalive lai —II trie net long term capital
gam eiceeds the net short term capital loss.
then III place of the normal la' and surtan im-
posed upon laiable income, there Is imposed
an alternative ta> lil Ihe ta» is less than the
normal ta> and surtai)
The allernalive fa* is Ihe sum of (1) a partial
ta> compuled al the normal ta» and surta« rales
on the taiaOle mcome determined by reducing
Ihe taxable investment income, and Ihe gam
Irom operations, by Ihe amouni of Ihe eicess ol
the net long term capital gam over the net short-
term capital loss, and (2) 30% of such e.cess.
An alternative tan rate of 25%. however. Is
0 apply to the lesser ol (1) the amouni o'
'subsection (d) gam" or (2) the encess ol
net long-term capital gain over any net short-
Brm capital loss.
I
i
1
o
r
&
S
S
i
i
E
Q
o
£
1
O <u
OJ
of investment assets subiect to sections 1245
and 1250 should be lepo'ted m Parts V and VI
respectively, regardless ol the length of time
hel-l. If held 6 months or less, Ihe other gam
leported m column k. Part V and column q.
Part VI. should be entered on line 1. Part 1
and identiticd as gam from Part V or Part VI. If
held more Ihan 6 months, the other gam re-
ported m column k. Part V and column q. Part
VI, should be entered on ime 4, Part 1. and
identified as gam from Part V or Part VI Any
amouni mcluded in column i. Part V and column
p. Part VI as ordinary income from the sale of
investment assets Should he included in Imo
7, Schedule A.
Column g.— E.cept where section 817 is ap
plicable. the gam or loss is the result ol column
d plus column e, less column 1, Where section
817 Is applicable, complete columns a through
1 and attach a schedule showing the method of
computing the gain reported m column g. Sec
instructions for "Basis."
Columns h-h. — These columns are to be used
only in Ihe event of gams on disposition of
properly il the FMV ol such property held
on December 31. 1958 eiceeded the adjusted
basis lor determining gam as of such date.
Line 4.— (A) Cols, a-g: Enter the total ol ap
plicable itoms from Part VII and other long term
capital gams and losses (eicluding the gams
Irom those assets whose F.M.V. on 13,'31 '58
enceeded the adjusted basis on that date).
(B) Cols, a-h: tntcr only Ihe long term capi
tai gams ol those assets whose F.M.V. on
12/31,.'58 exceeded the adiusted basis on that
dale
Capital losses. ^Capital losses are allowed
only to the extent of capital gams. A net capital
loss may be earned back three ;i^=is am) forward
hve as a shorttcrm capital l-'s -lowever. the
amouni allowable as a capital loss carryback is
subiect to the limitations ot section 1212(a)(1).
Under the provisions of section 641 1. a quick
capital loss carrybacl< may be obtained by filing
Form 1139. II a net capital loss carryback c<e
Jtcs an unused investment credit or an unused
work incentive (WIN) credit in a precedmg year,
the unused credit may be carried back lo the
three preceding years (however, Ihe WIN credit
1972). and. unifcr the provisions ol section
641 1. a quick rclund ol the fax overpayment may
likewise be obtained by filing Form 1139
Worthless securities.— E.cegt for bonks, il se
curities which are capital assets become wholly
worthless during the taxable year, the loss is to
be treated as a capital loss as of Ihe last day
of the ta.abic year.
Losses not allowable. — No toss is allowed for
wash sales of stock or securities (Sec section
1091.) No loss IS allowed (distributions m iiqui
dation excepted) on transactions between re-
lated persons (See section 267 )
Long-term capital gams from regulated invest-
ment companies. — include m income as a long
term capital eaii the amount (he corporation
has been notified constitutes its share of the
undistributed capital gams ol a regulated invest-
ment company
Short sales of capital assets. — See section
1233 lor rules relating to certain short sales of
stock or other securities and transactions in
commodity lutures
Basis, — The "basis" for certain property is
not subject to the same rule for reporting gains
as for losses
1
Every sale or exchange of property must be
reported m detail even though no gam or lots
results
In general all or part ol Ihe gam on a dis
position of property may be required to be re
ported as ordinary income uniler the provisions
Of sections 1245. 12F5() (see Parts V and VI),
1251. and 1252 The remainder ol Ihe gam may
or may not be subject lo capital gam treatment
depending on the circumstances
III? ,iiip}if!ii urn
III! ilii !iilii| fill
li!ini!il!ill!ii jiiMii
PART 1
Capital assets.— taeh item ol property held
by a corporation iwhelher or not connected wilh
lis uade Ol business) is a capital asset e.cept
(1) invenlonable assets or property held pn
manly lor sale to customers, (2) depreciable or
real property used m Ihe trade or business, (for
life insurance companies, this relates only to
property used in carrying on an insurance buSi
ness. eg, home oHice building; branch oKices.
office equipment; etc and eicluJes investment
assets thai produce interest, rents, dividends or
royalties) (see section 817 (a)(3»), (3) certain
copyrights, literary, niiisic.il. ur artistic COr^pOSi
tions, letters or memoiamJums. or similar prop
erty, (4) accounts or notei receivable acquired In
Ihe ordinary course ol a tiade or busmess lor
services rendered or Irom, Iho sale Of property
descriued m {Ij above, and (5) cortam short
lerm Federal, Stale, and municipal obligations
Issued on or after March 1, 1941. on a discount
basis
Thus the gams or losses from Ihe sate or
exchange o( depreciable assets attributable to
any trade or tiusine'^s (other Ihan an insurance
business) carried on by the lile insurance com
pany. such as renting uanous pieces of real
estate or operaimg a radio station, a housing
development, or a farm, will be treaied as gains
or losses Irom the sale or exchange of capital
assets
Investment assets.— Gams or losses Irom the
sale or eichange ol investment asscis are
treated as gams or losses from the sale or ex-
change cf capital assets. (See above) All sales
256
Corporation Returns/1974 • Forms and Instructions
(M
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Corporation Returns/IS/il • Forms <ind Instructions
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9 Dividends paid or declared to policyholders — Section 83
0 Increase in subscriber accounts — Section 823(b)(2)(A)
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258
Corporation Returns/1974 • Forms and Instructions
II
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Section 6
Index
*AsCerisk. denotes textual reference
Accounting periods, 1», 2», 3»,
122-125, 215»
Classifications by, 122-125
Defined 1*
Accounts payable, 20-78, 160-I6l4,
171-176, 185»
Accumulated amortization, 20-39,
85-89, 132-139, 168-176, 186*
Accumulated depletion, 20-39,
171-176, 189»
Accumulated depreciation, 20-78,
126, 127, 172, 173, 186»
Active corporation returns defined,
1», 208*
Additional tax for tax preferences,
t, 20-78, 90-125, 132-155,
168-170, 17H-176, 185», 197*
Advertising, deduction for, 6»,
20-39, 168-176, 185», 186»
Affiliated corporations. (See
Consolidated Returns. )
Allowance for bad debts, 20-39
171J-176, 186»
Alternative tax, 106-110
Amortization, 20-39, 85-89,
132-139, 168-176, 186»
Accumulated, 20-39
Annual returns, defined, 186*
Appropriated retained earnings.
(See Retained earnings,
appropriated. )
Assets:
Depletable, 20-39, 171-176, 189»
Depreciable, 11-78, 126-131,
160-16H, 168, 169, 171-176,
189», 190*
Intangible, 20-39, 171-176, 197»
Other, 20-39, 172-176, 205*
Other current, 20-39, 1711-176,
205», 206*
Sales or exchanges of, 201*
Zero. (See Zero assets defined.)
Assets and liabilities, by type
20-78
Assets (or liabilities), total,
1«, 2, 1, 5, 11-81, 126, 127,
132-139, 112-155, 159, 168, 169,
171-181, 212», 215*
By industry groups, 11-35,
10-73, 132-139, 160-161,
168, 169, 172-181
Consolidated returns, 17I, 175
187«, 188»
Defined, 208», 209*
Domestic International Sales
Corporation returns, 171-173,
192», 193», 209*
Returns with net income, 28-35,
38, 39, 106-110
Size classifications, 36-73,
110, 111, 160-167, 171, 175,
208», 209», 215», 217»
Small Business Corporation
returns, 160-161
Bad debts allowance, 20-39,
171-176, 186»
Bad debts, deductions for, 20-39,
85-89, 112-150, 168-176, 186»
Bad debts of financial
institutions, reserves for
losses on, 110-155 , 212»
Bonds, Government. (See
Government obligations, '
investment in. )
Bonds, notes, mortgages payable,
20-78, 160-161, 168, 169,
172-176, 201», 202*
Book income. (See Net income (or
deficit) per books of account.)
Business deductions, 20-78,
160-161, 168-170, 171, 175,
Business receipts, II-8I, 126,
127, 160-170, 172-176, l87», 208»
By industry groups, 11-35,
10-78, 165-170
Consolidated returns, 171-176
Defined, 187»
Returns with net income, 28-35 ,
38, 39, 71, 78
Size classifications, 36-73,
Small Business Corporation
returns, I6O-I69, 177-181, 209*
Calendar year returns, 186»
Capital assets defined for capital
gain purposes, 201 •
Capital gains or losses:
Defined, 211*
Net long-term capital gain
reduced by net short-term
capital loss, 20-39, 85-89,
106-113, 132-139, 112-155,
159-161, 168-170, 172, 173,
176, 201», 202»
Taxed at alternative rates,
111-118, 122, 123, 205*
Net short-term capital gain
reduced by net long-term
capital loss, 20-39, 85-89,
168-170, 172, 173, 176,
201», 202*
Tax treatment of, 201», 202*
Capital stock, oonmon or preferred,
20-39, 171-176, 187"
Capital surplus, paid-in or,
20-39, 171-176, 207*
Cash, 20-39, I6O-I6I, 172-176, 187»
Class life asset depreciation range
(CLADR) defined, 190*
Compensation of officers,
deduction for, 1, 20-39,
172-176, 187»
Consolidated returns, 3*, 171-'76,
187», i88»
Constructive taxable income from
related foreign corporations,
20-39, 85-105, 168, 169,
171-176, 188», 213
Contributions or gifts, deduction
for, 20-39, 168-176, 188»
Controlled Foreign Corporations:
Foreign dividend income
resulting from foreign taxes
deemed paid, 90-105, 191*
Includable income of, 90-105,
168, 169, 172, 173, 195», 196*
Controlled groups, members of,
177-181, 200»
Corporation, defined 1*
Cost of goods sold. (See Cost of
sales and operations. )
Cost of sales and operations,
deduction for, 1, 6» , 11-78,
160-161, 168-176, 185», 186»,
188», 189»
Cost of treasury stock, 20-39,
171-176, 189*
Credits:
Estimated tax, 90-105, 111-113,
119-123, 193*, 191*
Foreign tax, 1, 11-78, 82-127,
112-155, 168-170, 171-176,
185», 191», 195», 209»
Investment, 1, 11-78, 82-81,
90-131, 112-155, 168-170,
171-176, 185», 187», 188»,
198», 199», 209
Overpayments, 90-105, 111-125,
207, 211
Payments with applications for
extension of tine to file
(Form 7001 and 7005), 90-105,
111-125, 207*
Tax paid by by regulated
investment companies, 111-123,
189»
U.S. tax paid on special fuels,
nonhighway gasoline and
lubricating oil, 111-125,
160-161, 172, 173, 189»
Work incentive (WIN), 1, 20-78,
82-81, 90-123, 112-150,
156-158, 168, 169, 171-176,
185», 209», 213*
Deductions. (See each type of
deduction) :
Business, 20-78, I6O-I6I,
168-170, 171, 175,
Dividends received, 90-105,
111-118, 122, 123, 171-173,
191», 192*
273
274
Corporation Returns/1974 • Index
Other, i), 122, 123, 17t-176,
186», 206*
Preferred stock of public
utilities, 90-105, 114-118,
122, 123, 210»
Statutory special, TH-lQ ,
90-105, 111-118, 122, 123,
171-173, 209*
Total, H, 20-39, 168-176, 212*
Western Hemisphere Trade
Corporation, 90-105, 114-118,
122, 123, 168, 169, 210»
Deficit, 20-27, 36-37, 85-110,
11U-125, 132-139, 142-155, 159,
168-176, 204*
By industry, 82-84, 132-139, 176
Size classifications, 114-118
Depletable assets, 20-'9, 174-176,
189*
Depletion, accumulated, 20-39,
174-176, 189*
Depletion, deduction for, 6*,
20-39, 85-89, 132-139, 168-170,
176, 189*
Depreciable assets, 11-78,
126-131, 159-164, 168, 169,
171-176, 189», 190*
Depreciation, accumulated, 20-78,
121, 123, 159-164, 168, 169,
176, 186*
Depreciation, deduction for, 6*,
11-78, 85-89, 126-139, 151-155,
159-164, 170-176, 190*
DISC. (See Domestic International
Sales Corporations, Form
1120-DISC.)
Distributions to stockholders:
Cash and property except own
stock, 4, 11-78, 82-84,
160-170, 172-184, 190*
Corporation's own stock, 20-39,
168-169, 174-176
Defined, 191*
Form 1120-DISC, 171-173
Form 1120S, 160-167 , 191*
Dividends paid. (See
Distributions to stockholders. )
Dividends paid on certain public
utility stock, deduction for,
90-105, 114-118, 122, 123
Dividends received:
Deduction for, 90-105, 114-118,
122, 123, 171-173, 191*. 192*
Foreign dividend income
resulting from foreign taxes
deemed paid, 194*
From DISC, or former DISC,
85-105, 111-113
From domestic corporations,
20-39, 90-105, 168-170, 172,
173, 176, 191*, 192*
From foreign corporations, 1*,
20-39, 85-105, 168-170, 172,
173, 176, 192*, 194*
Includable income of Controlled
Foreign Corporations, 90-105,
168, 169, 172, 173, 195*
Qualifying dividends,
100 percent of affiliated
groups, section 1564 (b), (See
other deductions.)
Domestic dividends, 20-39, 90-105,
168-170, 172, 173, 176, 191*, 192*
Domestic International Sales
Corporations, Form 1120-DISC,
1*, 4, 171-173, 185*-189»,
■ 192*, 193*, 209*
Employee benefit programs,
deduction fo'- contributions to,
6*, 20-78, 160-164, 168-176,
193*
Employee pension, profit-sharing,
stock bonus, and annuity plans,
deduction for contributions to,
40-73, 160-164, 168-176, 207*
Estimated tax:
Defined, 193*, 194*
Refunds, 90-105, 114-118, 124,
125, 207*
Fiscal or noncalendar year
returns. (See Accounting
periods. )
Foreign corporations, 1*, 168,
169, 188», 194*, 195*,
Constructive taxable income from
related foreign corporations,
20-39, 85-105, 168, 169,
174-176, 188», 213*
Dividends received from. (See
Dividends received.)
Includable income of Controlled
Foreign Corporations, 90-105,
168, 169, 172, 173, 195*
With U.S. business operations
Defined, 194*
Foreign dividend income resulting
from foreign taxes deemed paid,
90-105, 194*
Foreign tax credit, 4, 11-78,
82-127, 142-155, 168-170,
174-176, 185*, 194*, 195*, 209*
Form 1120s, (See Small Business
Corporations. )
Forms, facsimiles of returns:
Form 1120: U.S. Corporation
income tax return, 220*-232*
Schedule D, Form 1120: Capital
gains and losses, 232*
Form 1120-DISC: Domestic
International Sales
Corporation return, 233*-239*
Form 1120-F: U.S. Income tax
return of foreign corporation,
240*-246»
Form 1120L: U.S. Life insurance
company income tax return,
247*-255»
Schedule D, Form 11 SOL: U.S.
Life insurance company sales
or exchanges of property,
254*, 255*
Form 1120M: U.S. Mutual
insurance company income tax
return, 256»-26l»
Form 1120S: U.S. Small Business
Corporation income tax return,
261»-267*
Schedule D, Form 1120S:
Capital gains and losses,
267*
Form 3468: Computation of
investment credit, 268*
Form 4626: Computation of
minimum tax, 269*
Form 4874: Credit for wages
paid or incurred In work
incentive (WIN) program, 270*
Form 1120-FY: Corporation
fiscal year tax computation
schedule, 271*, 272*
Gain, net capital, 20-39, 171,
201*, 202*
Gain net, sales of noncapital
assets, 20-3g, 168-173, 202*,
203*
Gifts, deduction for contributions
o<^, 20-39, 168-176, 200*
Government obligations, investment
in, 20-39, 160-164, 168-170,
172-176, 200*
Gross export receipts of DISC and
related U.S. persons, 172, 173,
195*
Gross receipts from sales and
operations. (See Business
receipts. )
Inactive corporations returns, 1*
1, 195*
Includable income of Controlled
Foreign Corporations, 90-105,
168, 169, 172, 173, 195*, 196*
Income. (See Income subject to
tax. Net income (or
deficit) , and each type of
receipt. )
Income resulting from foreign
taxes deemed paid, 90-105, 194*
Income subject to tax.
(See Surtax exemption, See
also Statutory special,
deductions), 3*, 4, 6* , 11-78,
82-84, 90-123, 126, 127,
159-164, 168, 169, 174, 175, 196*
By industry groups, 11-35,
40-78, 82-84, 90-105, 124,
125, 159-164, 168-170, 172-176
By size of income tax after
credits, III-118
By size of income taxed at
normal tax and surtax rates,
106-110, 124, 125
By type of tax, 106-110
Defined, 196*
Real estate investment trusts,
11-19
Regulated investment companies,
11-19
Small Business Corporation
returns, 114-118, 159-164
Income tax, 1*, 2, 4, 5, 6*,
11-84, 90-110, 114-139, 142-155,
160-164, 168-170, 174-184, 185*,
196*, 197*
Additional tax for tax
preferences (minimim tax), 4,
20-78, 90-125, 132-155,
168-170, 174-176, 185*, 197*
After credits, 3*, 4, 11-19,
90-125, 185*
Alternative tax, 106-110
Credits against. (See Credits. )
From recomputing prior year
investment credit, 4, 20-39,
90-127, 132-155, 168, 169,
174-176, 185», 197*, 211*
From recomputing prior year work
incentive (WIN) credit, 4,
20-39, 90-127, 132-155, 168,
169, 174-176, 185*, 197*, 211*
Normal tax, surtax, and
alternative tax, 4, 20-39,
90-118, 122, 123, 126-139,
142-150, 168, 169, 174-176,
185*
Corporation Returns/1974 . Index
275
Overpayments, 90-105, 111-125,
207*, 211*
Paid by real estate Investment
trust, 11-19
Paid by regulated investment
companies, 11-19
Personal holding company tax.
(See Personal Holding Company. )
Rates, 3», 5*
Regular tax, 106-110
Table - classifications. (See
Guide to tables, page V. )
Income taxed at normal tax and
surtax rates, 3» , 90-105,
111-113, 122, 125
By accounting period, 122-125
By industry, 90-105
Size classifications, 106-110
Income taxed through stockholders,
(See Small Business Corporations. )
Industrial classification:
Comparison with Enterprise
Standard Industrial
classification, 197*
Defined, 197*
Insurance companies:
Life (Form 1120L), 186»
Mutual (Form 1120M), 212*
Intangible assets, 20-39, 174-176,
197*
Intercorporate dividends received
deduction, defined, 210*
Interest paid, deduction for, 6* ,
20-78, 160-164, 158-176, 198*
Interest received:
On Government obligations:
United States, 20-39, 170,
172-176, 197*, 198*, 212*, 213*
State and local, 1, 20-39,
85-89, 170, 172-176, 197*,
212*, 213*
Other-, 20-39, 172-176, l87*, 206*
Intragroup dividends qualifying
for 100 percent deduction,
111-113, 122, 123, 177-184
Intragroup dividends qualifying
for transitional deduction under
section 1564(b), 111-113, 122,
123, 177-184
Inventories, 1*, 6*, 20-81,
160-164, 168, 169, 174-176,198*
Methods, 6», 79-81, 198*
Investment credit, 4, 11-78,
82-84, 90-131, 142-155, 168-170,
174-176, 185*, 187», 188», 198*,
199*, 209*
By industry group, 20-35, 40-78,
82-84, 90-105, 128-131,
168-170, 176
By item (Form 3468), 111-113,
128-131, 159
By size of credit, 126, 127
By size of income taxed at
normal tax and surtax rates,
106-113
Carryover, defined, 199*, 213*
Qualified for credit, defined,
199*, 200*
Tentative, defined, 212*
Unused, defined, 213*
Investments :
In Government obligations:
United States, 20-39, 174-175,
200*
State and local, 20-39,
174-176, 200*
Other, 20-39, 174-175, 206*
Land, 20-39, 158, 169, 174-176,
200*
Liabilities. (See also each type
of liability),
Other, 20-39, 172-175, 206*
Other current, 20-39, 172-175,
185*, 205*
Total, 1», 2, 4, 5, 11-84, 125,
127, 132-139, 142-155,
159-169, 171-184, 212*
Life insurance companies, 185*
Loans from stockholders, 20-39,
174-175, 200*
Loans to stockholders, 20-39, 168,
169, 174-176, 200*
Long-terra capital gain from
certain binding contracts,
distributions, and installment
sales, 106-110, 200*
Loss :
Business. (See Deficit, and Net
income (or deficit).)
Carryover. (See Net operating
loss deduction. )
Net, noncapital assets, 20-39,
168, 169, 171-175, 202*, 203*
Net operating, (See Net
operating loss deduction.)
Major i
79-81
159-1
Members
200*,
Minimum
for
Minor i
Mortgag
20-39
202*
Mortgag
payab
169,
Mutual
1120M
Mu tua 1
life
ndustry, 20-35, 40-73,
, 85, 105, 128-139,
70, 172, 173, 176-184
of controlled groups,
201*
tax. (See Additional tax
ax preferences. )
ndu.stry, 11-19
e and real estate loans,
, 168, 169, 174-176, 201»,
es, notes, and bonds
le, 20-78, 160-164, 168,
171-176, 201*, 202*
insurance companies (Form
), 212*
savings banks with separate
insurance departments, 195*
Net capital gains, 20-39, 171,
201*, 202*
Net gain or loss, noncapital
assets, 20-39, 168-173, 175,
202*, 203*
Net income or (deficit), 1*, 2,
3*, 4, 5, 11-127, 132-139,
142-155, 159-184, 204», 215
By accounting period, 2*, 122-125
By industry groups, 28-35,
40-105, 132-139, 168-170,
176-184,
By size of business receipts,
74-78
By size of income tax after
credits, 111-118
By size of income taxed at
normal tax and surtax rates,
106-110
By size of total assets, 5, 36-73
Consolidated returns, 174-176
Defined, 204*
Per book of account, 3*, 5,
85-89, 204*, 205*
Small Business Corporation
returns. Form 1120S, 114-118,
159-167, 209*
Net long-term capital gain reduced
by net short-term capital loss
(see also Net capital gains),
20-39, 85-89, 106-113,
132-150, 159-164, 168-170,
172, 173, 176, 201*
In excess of $25,000, 205*
Net long-term capital gain taxed
at alternative rates, 90-118,
122, 123, 132-139, 151-155,
205*
Amount subject to 25 percent
rate, 90-105
Net loss, noncapital assets,
20-39, 168, 169, 171-176,
202*, 203*
Net operating loss:
Deduction, 74-78, 90-105,
111-118, 122, 123, 140, 141,
171-173
Defined, 209*
Net profit (or net loss). (See
Net income (or deficit) . )
Net short-term capital gain
reduced by net long-term capital
loss (see also Net capital
gains), 20-39, 85-89, 168-170,
172, 173, 176, 201*, 202*
Net worth, 11-19, 82-84, 160-164,
205*
Noncalendar year returns. (see
also Accounting periods), 1*,
3*, 205*
Nonconsoli dated returns, 5
Nontaxable returns, 106-110
Normal tax, surtax, and
alternative tax. (See Income
tax. )
Notes and accounts receivable,
20-78, 172-176, 186», 205*
Notes, mortgages, and bonds
payable, 20-78, 160-164, 158,
169, 171-176, 201*, 202*
Number of returns (see also in
each table by specific
classification), 2, 4, 6,
11-19, 82-84, 106-110,
114-121, 124, 125, 140-155,
171, 177-184, 205*, 216
Coefficient of variation, 11-1 9
Overpayments. (See Income tax.)
Paid-in or capital surplus, 20-39,
174--176, 207*
Part-year returns, 1*, 207*
Payments with applications for
extension of filing time (Form
7004 and 7005), 90-105, 111-125,
207*
Pension, profit-sharing, stock
bonus, and annuity plans,
deduction for contributions to,
20-78, 160-164, 168-176, 207*
Personal holding company tax,
90-105, 114-118, 124, 125, 207*
276
Railraad rolling stock, 132-150
amortization of, 132-150, 212*
Rates of tax, 3*, 6*
Real estate investment trusts,
11-19
Receipts:
Business, 4, 11-81, 126, 127,
160-170, 172-176, 187*, 208»
Other, 1, 20-39, 186», 206*, 207*
Total, 2», 4, 5, 11-78, 82-84,
111-113, 122, 123, 132-139,
1U2-155, 160-164, 168-184, 212*
Refunds of estimated tax payments,
90-105, 114-118, 124, 125, 193*,
207*
Regular tax and alternative tax,
106-110
Regulated investment
companies, 90-105, 111-113
Rent paid on business property,
168-170, 172, 173, 176, 207*.
208*
Deduction for, 20-39
Rents received, 20-39, 168-170,
174-176, 186», 208*
Repairs, deduction for, 20-39,
170-173, 176, 208*
Reserves:
Bad debts allowance, 20-39,
174-176, 186*
For depletable, depreciable and
intangible assets. (See
Accuffiulatea depletion.
Accumulated depreciation, and
Accumulated amortization. )
Surplus. (See Retained
earnings, appropriated. )
Retained earnings, ^pprop;-: ated,
20-39, 174-176, 208*
Retained earnings, unappropriated,
20-39, 172-176, 208*
Return forms. (See Forms ,
facsimiles of returns. )
Returns:
Active corporations, 1,2, 4,
11-27, 36, 37, 40-105,
114-118, 122, 123, 208*
Form 1120-DISC. (See Domestic
Internatinal Sales
Corporations. )
Form 1120F. (See Foreign
Corporations. )
Form 1120S. (See Small Business
Corporations. )
Other than Forms 1120S and
1120-DISC, 106-113, 119-121,
126-155, 177-184
Part-year, 207*
Used for this report, 1», 215*
With income tax, 90-105
With net income, 5, 11-19,
20-35, 38, 39, 74-78, 82-84,
90-118, 122, 123, 208*
Without net income, 82-84,
111-113, 208*
Royalties received, 20-39,
168-170, 174-176, 208*
Corporation Returns/1974 • Index
Sales or exchanges of capital
assets. (See Met capital gains.)
Sales or exchanges of noncapital
assets. (See Net gain or loss,
noncapital assets.)
Sample, description of and
limitations of data, 215*-217*
Method of estimation, 216*
Sampling variability, 216*
Size distributions:
Business receipts, 36-73, 208*
Deficit, 36, 37
Income tax after credits, 111-113
Income taxed at normal tax and
surtax rates, 105-110
Investment credit, 126-127
Net income, 82-84
Total assets, 36-73, 140, 141,
160-167, 174, 175, 208*, 209*,
215*, 217
Small Business Corporations, Form
1120S, 1*, 4, 90-105, 114-118,
159-167, 185*, 186», 191*, 196*,
209*, 210*, 213*
Statutory exclusion, 132-155, 185*
Statutory special deductions,
74-78, 90-105, 111-118, 122,
123, 171-173, 209*
Stock, capital, 20-39, 171-176,
187*
Stock, treasury, cost of, 20-39,
171-176, 189*
Stock dividends. (See
Distributions to stockholders. )
Stockholders equity. (See Net
worth . )
Subsidiaries, number in
consolidated return."., 174-176
Surplus, paid-in or capital,
20-35, 174-176, 207*
Surtax exemption, 3*, 6*
Tax, income. (See Income tax. )
Tax deferred and income taxable to
stockholders. Form 1120-DISC,
172, 173, 210*
Tax due at time of filing,
111-125, 210*, 211*
Tax-exempt interest. (See
Interest received. State and
local . )
Tax from recomputing prior year
investment credit, 4, 20-39,
90-155, 168, 169, 174-176, 186,
197*, 211*
Tax from recomputing prior year
work incentive (WIN) credit,
4, 20-39, 90-125, 132-155,
168, 169, 174-176, 185, 197*,
211*
Tax preference items (Form 4626),
111-113, 132-1'^5. 18"». ?11». 212*
Tax return forms. (See r'orms ,
facsimiles of returns.)
laxable income, (See Income
subject to normal tax, surtax,
and alternative tax.)
Taxes paid, deduction for,
168-176, 187*, 211*
Total assets, 1*, 2, 4, 5, 11-84,
126, 127, 132-139, 142-155,
159-169, 171-184, 212*, 215*
Size of total assets, 36-73,
160-167, 174, 175, 208*, 209*,
215*, 217
Total deductions, 4, 20-39,
168-176, 212*
Total liabilities, 1», 2, 4, 5,
11-84, 126, 127, 132-139,
142-155, 159-169, 171-184, 212*
Total receipts, 2», 4, 5, 11-78,
82-84, 111-113, 122, 123,
132-139, 142-155, 160-164,
168-184, 212*
Total receipts less total
deductions, 4, 20-27, 36-39,
168-176, 212*, 213*
U
Unappropriated retained earnings.
(See Retained earnings,
unappropriated. )
Work incentive credit, 4, 20-78,
82-84, 90-123, 142-150, 156-158,
168, 169, 174-176, 185*, 209*,
213*
Zero assets defined, 213*
OU.S. GOVEHNMENT PRINTING OFHICE; 1978 620-034/4811 1-.1
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