Full text of Statistics of Income : 1935, Parts 1 and 2
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
U. S. TREASURY DEPARTMENT
BUREAU OF INTERNAL REVENUE
STATISTICS OF INCOME
FOR 1935
PART 1
COMPILED FROM INDIVIDUAL INCOME TAX
RETURNS, ESTATE TAX RETURNS
AND GIFT TAX RETURNS
PREPARED UNDER DIRECTION OF THE
COMMISSIONER OF INTERNAL REVENUE
BY THE
STATISTICAL SECTION, INCOME TAX UNIT
UNITED STATES
GOVERNMENT PRINTING OFFICE
W A S H I N G T O N : 1938
F o r sale b y t h e Superintendent of D o c u m e n t s , Washington. D . C . - - - - - -
. . . . . . .
Price 20 cents
CONTENTS
Page
Official transmittal
~-~
1-69
INDIVIDUAL INCOME TAX RETURNS
Returns tabulated
Definition of net income
Tax liability and collections
Geographic distribution
Comparability with previous reports
Number of returns, net income, and tax
Simple and cumulative distribution by net income classes of number of
returns, net income, and tax
Classification by sex and family relationship
Personal exemption and credits against net income
Capital gams and losses
Sources of income and deductions
:
Amounts and percentages
Amounts and frequency distribution, by net income classes
Percentage distribution by net income classes
Frequency distribution of selected sources of income and loss, by net income classes and by size of each source of income and loss
Profit and loss from business, by industrial groups, returns with net income of $5,000 and over
Wholly and partially tax-exempt obligations, returns with net income of
$5,000 and over
Amount owned and interest received by net income classes
Returns on Form 1040 with no net income. ^
By deficit classes
Sources of income and deductions, amount
Number of returns by counties, cities, and towns
PARTNERSHIP RETURNS OF INCOME
Number by years, 1917 through 1935
1-2
2-3
3
4
4
4
4-5
6
7
7-8
8^9
9
10-11
12
13-23
23-25;
26-29
27-28
29
29
30
30
30-31
HISTORICAL SUMMARIES, INDIVIDUAL INCOME TAX RETURNS
Number of returns, net income, tax before tax credits, tax credits, and tax,
1913 through 1935
31-32
Number, by net income classes, 1914 through 1935
32-33
Net income, by net income classes, 1916 through 1935
.__
34
Tax, by net income classes, 1916 through 1935
35
Effective tax rate, by net income classes, 1916 through 1935
36
Sources of income and deductions, 1916 through 1935:
All returns
37-39
Returns with net income of $5,000 and over_
39-42
ESTATE TAX RETURNS
General explanations
43-45
Table 1. Taxable and nontaxable returns of citizen or resident decedents.
Number of returns, gross estate, deductions, net estate and
tax, by revenue acts under which returns were
filed
46-48 ^
NUMBER OF RETURNS, GROSS ESTATE AND DEDUCTIONS, BY NET
ESTATE CLASSES, FOR. TAXABLE RETURNS OF
Table 2. Resident decedents who died prior to May 11, 1934
49-50
Table 3. Citizen or resident decedents who died in period May 11, 1934,
through August 30, 1935
1
51-53
Table 4. Citizen or resident decedents who died on or after August 31,
1935
54-55
NUMBER OF RETURNS, NET ESTATE AND TAX, BY NET ESTATE
CLASSES, FOR TAXABLE RETURNS OF
Table 5. Resident decedents w^ho died prior to May 11, 1934
56-57
Table 6. Citizen or resident decedents who died in period May 11, 1934,
,r
through'August 30, 1935
58-59
Tabl^'7. Citizen orwr^sident decedents who died on or after August 31,1935.. 60-61
IV
CONTENTS
Table 8. Taxable and nontaxable returns of citizens or resident decedents,
by States and Territories. Number of returns, gross estate,
net estate and tax
62-63
Table 9. Historical summary of returns of resident and nonresident
decedents filed in period 1916 through 1936
64
GIFT TAX RETURNS
General explanations
65-66
Gift tax returns for 1935, by form of property. Total gifts, amount
by trust, and all other gifts
66
Gift tax returns for 1932 through 1935. Total number of returns,
taxable and nontaxable, total gifts, net gifts, and tax
66
Gift tax returns of identical donors for 1935 and prior years.
Number of returns, net gifts and tax
66
Table 1. Gift tax returns for 1935, by net gift classes. Number of returns,
total gifts by form of property, exclusions, total gifts after
exclusions, deductions, net gifts, and tax
67-68
Table 2. Gift tax returns for 1935, by total gift classes and by taxable
and nontaxable returns. Number of returns, total gifts before
exclusions, exclusions, total gifts after exclusions, deductions,
net gifts, and tax
68-69
BASIC TABLES—INDIVIDUAL INCOME TAX RETURNS
United
1.
2.
3.
4.
5.
6.
7.
States in aggregate (1-8, 10, 11):
By States and Territories
73
By net income classes
'
74-75
Simple and cumulative distribution, by net income classes
76-78
Sex and family relationship, by States and Territories
79-81
Sex and family relationship, by net income classes
82-84
Sources of income and deductions, by States and Territories
85-87
Sources of income and deductions> by net income classes; also total
number of returns, and for returns with net income of $5,000 and
over, number of returns for each specific source of income and
deduction
88-92
8. Frequency distribution by size of profit and loss from business
(other than partnerships) by industrial groups, showing number
of businesses and amount. Returns with net income of $5,000
and over
93-101
10. Returns on Form 1040 with no net income. Number and deficit
by States and Territories
127
11. Returns on Form 1040 with no net income. Sources of income,
deductions, and deficit, by deficit classes
127-128
States and Territories separately (9):
9. By net income classes for 1935, with historical summary 1925
through 1934
102-126
REVENUE ACTS OF 1913-1934 AND CERTAIN TAX PROVISIONS OF THE
NATIONAL INDUSTRIAL RECOVERY ACT (1933); ALSO ESTATE TAX PROVISIONS UNDER REVENUE ACT OF 1935—SYNOPSIS OF INDIVIDUAL INCOME AND PROFITS TAX RATES, ESTATE AND GIFT TAX RATES,
CREDITS AND EXEMPTIONS, AFFECTING THE COMPARABILITY OF
DATA IN "STATISTICS OF INCOME."
INDIVIDUAL:
Required to file returns, personal exemption, credit for dependents, and
normal tax rates, 1913 through 1935
132-135
Surtax rates, 1913 through 1935
136-137
Supplemental income and profits tax rates and tax credits, 1917
through 1935
138-139
ESTATE TAX:
Rates, specific exemption, and credits against estate tax, 1916 through
1935
140-141
GIFT TAX:
Rates, specific exemption, exclusions and deductions, 1924 through
1935
142
INCOME TAX FORMS
Facsimiles of Forms 1040, 1040A, and 1065 for 1935
143-155
INDEX
157-170
STATISTICS OF INCOME FOR 1935
PART 1
INDIVIDUAL INCOME TAX RETURNS, ESTATE TAX RETURNS, AND
GIFT TAX RETURNS
TREASURY DEPARTMENT,
OFFICE OF COMMISSIONER OF INTERNAL REVENUE,
Washington, D. C, September 28, 1938.
SIR: In accordance with the provision in the Revenue Act of 1916
and subsequent acts requiring the publication annually of statistics
with respect to the operation of the income, war-profits, and excessprofits tax laws, I have the honor to transmit herewith a report
entitled "Statistics of Income for 1935, Part 1," prepared from individual income tax returns for 1935 filed during 1936, with a historical
presentation of the income and of the tax liability reported by individuals since the inception of the present period of income taxation
under the sixteenth amendment to the Constitution. The report
also contains tabulations of data from estate tax returns filed during
,1936, irrespective of the date of death of the decedent, as well as
tabulations of data from gift tax returns filed during 1936, with brief
historical summaries.
INDIVIDUAL INCOME TAX RETURNS
RETURNS TABULATED
Individual income tax returns for 1935 were filed under the provisions of the Revenue Act of 1934. The major changes made by
this act affecting individual income taxes are set forth in the synopsis
of individual income tax rates, credits, and exemptions on pages
132-139.
The year for which the income is reported is, in general, the calendar
year ended December 31, 1935. However, a negligible number of
individual returns is filed for a fiscal year other than the calendar
year. The returns for a fiscal year ended in the period July, 1935,
through June, 1936, are tabulated with the calendar year returns.
There are also included part-year returns for which the greater part
of the accounting period falls in 1935.
The general tables for individuals include only returns with net
income. The data tabulated from individual returns with no net
income are shown on pages 29-30 and 127-128. Prior to 1928 no
tabulations were made from individual returns with no net income.
The filing of returns with no net income or with a net income of less
than $1,000 is due to (1) the provisions of the Kevenue Act of 1921
and subsequent acts requiring that a return be filed by every individual
with gross income of $5,000 and over, irrespective of the amount of net
income or deficit, and by every married couple living together and
having an aggregate gross income of $5,000 and over; (2) married
couples electing to file separate returns, as provided by law; (3)
2
STATISTICS OF INCOME
returns filed in the case of the death of the taxpayer covering the
income period to date of death; and (4) part-year returns filed by
taxpayers electing to change the accounting period.
The statistics are taken from returns as filed and prior to any
revision or adjustment that may subsequently be made as a result of
audit by the Bureau of Internal Revenue, and include data from
amended returns showing net income of $100,000 and over, but not
from tentative returns, or amended returns with net income under
$100,000. The data from income tax returns filed by individuals
reporting net income of $5,000 and over are tabulated from each such
return. Individual returns of net income under $5,000 filed on Form
1040, which display income characteristics similar to those usually
found in returns of net income of $5,000 and over, such as varied or
unusual sources of income or large total income, pass through the
Statistical Section, and the data are tabulated from each of these
returns.
The statistics pertaining to individual returns with net income
under $5,000, excepting those on Form 1040 specified above (which
numbered approximately 285,000), represent estimates based on
samples of such returns. Averages for the various items from a sample
for each State are applied to the total number of returns of the class
which they represent to secure estimates for the particular State.
The samples are selected from both forms on which individual incomes are reported—Form 1040 for net income from salaries or wages
of more than $5,000, or income regardless of amount from business,
profession, rents, or sale of property; and Form 1040A for net income
of not more than $5,000, derived chiefly from salaries and wages.
All returns, Form 1040, are sent to Washington for administrative
action and those with net income under $5,000, excepting those referred to above, are sampled by the Statistical Section. The returns,
Form 1040A, are retained in the collection districts and samples only
are sent to Washington.
The sample for 1935 included approximately 252,000 returns on
Form 1040 and 299,000 on Form 1040A, representing for each collection district not less than 10 percent of the number oi taxable and
nontaxable returns, Form 1040 and 1040A, with net income under
$5,000. The minimum for Form 1040 was 4,000, or 10 percent of the
number filed, whichever was larger, and for Form 1040A the minimum was 2,000, or 10 percent of the number filed, whichever was
larger. When the number of returns filed in a collection district in
this class was less than 4,000 in the case of Form 1040 or 2,000 in the
case of Form 1040A, the entire number filed was tabulated.
For 1929 and subsequent years the number of returns with net income under $5,000 is based in part on Income Tax Unit reports and in
part on reports of collectors; for years prior to 1929, it is based on
collectors' reports. (See 1929 Statistics of Income, p. 2.)
DEFINITION OF NET INCOME
Throughout this report "net income7' represents the amount of
gross income, as defined in the revenue acts effective for the year for
which the returns are filed, in excess of the deductions claimed by the
taxpayer under the provisions of the respective acts, and "deficit"
means excess of deductions over gross income. Credits allowed
STATISTICS OF INCOME
3
individuals, such as personal exemption, credit for dependents, and
credit for earned income, are not included in deductions.
Net income includes gains and losses from the sales of capital assets
to the extent required or allowed under the Revenue Act of 1934.
(See pp. 7-8 for a statement concerning treatment of net capital gains
and losses.) Surtax net income represents the amount of net income
less personal exemption and credit for dependents. The amount of
net income subject to normal tax is determined by subtracting from
the surtax net income the amounts of interest received on Government obligations not wholly exempt from tax, dividends received,
and earned income credit.
TAX LIABILITY AND COLLECTIONS
The amount of tax liability as reported on the returns is not precisely
comparable with the amount of individual income tax collections during the calendar year in which the returns are filed. Several factors
are responsible for the difference in the taxes collected and the tax
liability reported on the returns, among which are the following:
1. The amount of tax originally reported may have been subsequently revised as the result of audit of returns. The revisions may
result in additional assessments, thereby increasing the tax liability,
or in certificates of overassessment, representing abatements and
credits, which reduce the tax liability originally reported. An
amended return has the same effect as an audit revision.
2. Income and profits taxes paid to foreign countries or possessions
of the United States may be taken as a deduction from gross income
or applied with certain limitations as a credit against the income
tax payable to the United States. The amount of such taxes taken
as a credit by individuals against the income tax liability to the
United States has not been deducted from the amount of income tax
liability shown in the tabulations in this report. The aggregate
amounts of this credit, wThich are available only for the years 1925 to
1930, inclusive, appear on page 9 of the Statistics of Income for 1930.
3. Individual income taxes paid at the source on tax-free covenant
bonds are deductible from income taxes payable by individuals but are
not deducted in arriving at the income tax liability of individual returns
shown herein.
4. The amount of tax liability on fiscal year returns may not represent taxes collected during the calendar year in which the returns are
filed.
5. Tabulations in this report exclude data reported on the individual
income tax returns, Form 1040C, used by departing aliens, whereas
collections in the current year include taxes paid by these individuals.
6. Delays in payment due to financial embarrassment, death, liquidation of business, or any other cause result in collections of taxes
after the close of the year in which such taxes are due, and the classification of such collections as "back taxes" because made in a subsequent year. For similar reasons, certain amounts are uncollectible.
7. Collections in the current year include such interest and penalty
items as are received in connection with delinquent payments on
returns.
4
STATISTICS OF INCOME
GEOGRAPHIC DISTRIBUTION
Individual income tax returns may be filed in the collection district
in which the taxpayer resides or in which his principal place of business
is located. Although the returns are tabulated by the States in which
they are filed, the data do not represent the geographic distribution of
the sources of income, as income reported by an individual in one
State may have been derived from sources in other States.
COMPARABILITY WITH PREVIOUS REPORTS
In various sections of this report, attention is directed to changes in
the provisions of the revenue acts under which the returns for given
years are filed which interfere with a precise comparability of the
data over a period of years. The major provisions of the revenue
acts from 1913 to date are shown on pages 129-142.
NUMBER OF RETURNS, NET INCOME AND TAX
The returns of individuals reporting net income for 1935 numbered
4,575,012, of which 2,110,890 were taxable and 2,464,122 nontaxable.
Aggregate net income was $14,909,812,025, of which $10,034,105,975
was reported on taxable returns and $4,875,706,050 on nontaxable
returns. The total tax liability reported on taxable returns was
$657,439,343. Tax liability averaged $144 for all returns and $311
for taxable returns. The effective tax rates were 4.4 percent for all
returns and 6.6 percent for taxable returns. The number of returns
reporting a net income was 3.6 percent of the total population (Census
Bureau estimate of population as of July 1, 1935).
As compared with returns for 1934, the total number of returns increased by 480,592, or 11.7 percent, the number of taxable returns
increased by 314,970, or 17.5 percent, and the number of nontaxable
returns increased by 165,622, or 7.2 percent. The total net income
increased $2,113,009,943, or 16.5 percent, the net income on taxable
returns increased $1,690,547,684, or 20.3 percent, and the net income
on nontaxable returns increased $422,462,259, or 9.5 percent. The
tax liability increased $146,039,565, or 28.6 percent. The effective
rates of tax for 1934, which were slightly lower than those for returns
for 1935, were 4.0 percent for all returns and 6.1 percent for taxable
returns.
The distribution of returns of individuals by States and Territories
is given in the basic table 1, page 73, and by net income classes in basic
table 2, pages 74-75. Each of these tables shows number of returns,
net income, tax, personal exemption and credit for dependents.
SIMPLE AND CUMULATIVE DISTRIBUTION BY NET INCOME CLASSES OF NUMBER
OF RETURNS, NET INCOME, AND TAX
The distribution of returns by a limited number of net income classes
is exhibited in the following table, which includes the number of returns, net income, and tax; also cumulative totals and percentages.
In basic table 3, pages 76-78, a similar distribution of the number
of returns, net income, and tax, is shown by a more detailed net income
classification.
STATISTICS OF INCOME
5
Simple and cumulative distribution of individual returns for 1985, by net1 income
classes, showing number of returns, net income, tax, and percentages
[Net income cteisses and money figures in thousands of dollars]
Pteturns
Simple distribution
Cumulative distribution from highest income class
Number
Net income classes
Number
Percent
299, 594
1, 777,931
1,123, 699
873, 673
339,842
123 564
26,029
8,033
1,395
896
206
109
41
Total
6.55
38.86
24.56
19.10
7.43
2.70
.57
.18
.03
.02
4, 575, 012
Under 1 (estimated)
1-2 (estimated)
_..
2-3 (estimated)
3-5 (estimated)
5-10
_
10-25
25-50
50-100 . ,
. ._
100-150
150-300
300-500
500-1,000
1,000 and over
Percent
Cumulative distribution from lowest
income class
Number
Percent
100. 00
;01
(2)
4, 575,012
4, 275, 418
2,497,487
1, 373,788
500,115
160, 273
36, 709
10, 680
2,647
1, 252
356
150
41
100.00
93.45
54.59
30.03
10.93
3.50
.80
.23
.06
.03
.01
(2)
6.55
45.41
69.97
89.07
96.50
99.20
99.77
99.94
99.97
99.99
99.99
99.99
100.00
299,594
2, 077, 525
3, 201, 224
4, 074,897
4, 414, 739
4, 538, 303
4, 564, 332
4, 572, 365
4. 573, 760
4', 574, 656
4, 574, 862
4, 574,971
4, 575, 012
Net income
Simple distribution
Under 1 (estimated)
1-2 (estimated)
2-3 (estimated)_._ ___
3-5 (estimated)
5-10
_ _.
10-25 _
25-50
50-100
100-150
150-300.. .__
300-500
500-1,000
_
1,000 and over
Cumulative distribution from highest income class
Cumulative distribution from lowest
income class
Amount
Net income classes
Amount
Amount
Percent
..
_
Total
198,900
2, 534,828
2, 831, 583
3, 249,107
2, 283, 402
1, 822, 271
882, 309
535, 772
166, 379
179, 911
77, 907
73,811
73,630
1.34
17.00
18.99
21.79
15. 31
12.22
5.92
3.59
1.12
1.21
.52
.50
.49
14, 909, 812
__. _.
Percent
Percent
1.34
18.34
37.33
59.12
74.43
86.65
92.57
96.16
97.28
98.49
99.01
99.51
100. 00
100. 00
14,909,812
14, 710,912
12,176, 085
9, 344, 501
6, 095, 394
3,811,992
1, 989, 720
1,107, 411
571, 639
405, 260
225, 349
147, 441
73, 630
100.00
98.66
81.66
62.67
40.88
25.57
13.35
7.43
3.84
2.72
1.51
.99
.49
198, 900
2, 733, 727
5, 565, 311
8. 814,418
11, 097, 820
12, 920, 092
13, 802, 401
14, 338,173
14, 504, 552
14, 684,463
14, 762, 371
14, 836. 182
14, 909, 812
Tax
Simple distribution
Net income classes
Amount
Under 1 (estimated)
1-2 (estimated)
2-3 (estimated) _
3-5 (estimated)
5-10
10-25
25-50
._
50-100
100-150
150-300
300-500
500-1,000
1,000 and over
Total
_ --
.
_.
125
10, 058
9,311
20, 738
48, 728
103, 754
106, 670
112,816
54,132
74, 039
37, 245
38, 323
41, 499
0.02
1.53
1.42
3.15
7.41
15.78
16.23
17.16
8.23
11.26
5.67
5.83
6.31
657,439
Cumulative distribution from lowest
income class
Amount
Amount
Percent
Percent
100. 00
i For general explanations, see pp. 1-4.
Percent
Cumulative distribution from highest income class
657. 439
657, 315
647, 256
637, 945
617, 208
568, 479
464, 725
358, 055
245, 239
191,106
117, 068
79, 823
41,499
100.00
99.98
98.45
97.03
93.88
86.47
70.69
54.46
37.30
29.07
17.81
12.14
6.31
125
10,183
19,494
40, 232
88, 960
192, 714
299, 385
412,201
466, 333
540,372
577, 617
615, 940
657, 439
2 Less than one-hundredth of 1 percent.
.02
1.55
2.97
6.12
13. 53
29.31
45.54
62.70
70.93
82.19
87.86
93.69
100. 00
6
STATISTICS OF INCOME
CLASSIFICATION BY SEX AND FAMILY RELATIONSHIP
The table presented herewith shows the number of individual returns and the net income distributed according to sex and family
relationship of the taxpayer. In basic tables 4 and 5, pages 79-84,
similar data are shown by States and Territories and by net income
classes, respectively.
This year, the separate returns of husbands and the returns of estates and trusts are shown for the first time. In prior years, the separate returns of husbands were tabulated with the joint returns of
husbands and wives, the returns of estates were distributed among the
various groups of returns according to the sex and family relationship
of the testator or grantor, and the returns for property held, in trust
were distributed according to the sex and family relationship of the
beneficiarv, if the status of the beneficiary could be determined, or according to the sex and family relationship of the testator or grantor, if
the status of the beneficiary could not be determined.
The tabulation of the returns showing community property income
excludes returns with net income under $5,000 and joint returns of
husband and wife with net income under $10,000. The returns of
married persons not showing community property income filed in the
eight community property States are classified according to the status
reported, as joint returns of husbands and wives or separate returns
of husbands and wives. In tabulating joint returns showing community property net income of $10,000 and over, with tax liability apportioned between husband and wife, the items of income and deductions
are divided to represent two community property returns, the net
income class for each of the separate returns being one-half of the combined community income. Separate returns of husbands and wives
showing community property income of $5,000 and over are classified
as community property returns by net income classes according to the
net income on each return.
Individual returns for 1935, by sex and family relationship of taxpayers^ showing
number of returns, net income, and percentages *
Returns
Net income
Family relationship
Number
Joint returns of husbands, wives and dependent children,
and returns of either husband or wife when no other return is
filed
„
Separate 2
returns of husbands and wives:
Men
2
Women ___
_
Heads of families:
Single men and married men not living with wives
Single women and married women not living with husbands
Not heads of families:
Single men and married men not living with wives
Single women and married women not living with husbands
__._
Community property returns
Estates and trusts
Grand total
Percent
2,100,026
45.90
124, 355
105, 559
2.72
2.31
Amount
Thousands
of dollars
Percent
7,656,773
51.35
1,391,784
615, 621
9.33
4.13
5.18
312, 557
6.83
771,608
170, 653
3.73
409,441
2.75
1, 033, 214
22.58
2,068,702
13.88
660, 703
31,148
36,797
14.44
.68
.81
1, 415, 313
371, 910
208, 661
9.49
2.49
1.40
100. 00 14,909,812
100.00
4, 575, 012
1 For general explanations, see pp. 1-4.
3
An unequal number of separate returns of husbands and wives results from the use of the sample method
for returns with net income of under $5,000, as the net income of one spouse maybe $5,000 or over and that
of the other spouse under $5,000 (see discussion of simple?, p. 2).
STATISTICS OP INCOME
PERSONAL EXEMPTION AND CREDITS AGAINST NET INCOME
The net income specifically exempt from normal tax through personal exemption, credit for dependents, earned income credit, dividends on stock of domestic corporations, and interest on Government
obligations not wholly exempt from tax, together with net income subject to normal tax is shown in the following table:
Net income exempt from and amount subject to normal tax, individual returns for 1935l
Amount
(thousands
of dollars)
Distribution
Net income
Percent
_.
14,909,812
100.00
Personal exemption and credits against net income:
Personal exemption
___
Credit for dependents
Earned income credit
__..
Dividends on stock of domestic corporations
Taxable interest on partially tax-exempt Government obligations 2
8,484,700
1, 288,189
944, 358
2, 234, 727
43,820
56.91
8.64
6.33
14.99
.29
12,995, 793
1,906,336
87.16
12.7P
Total
Less: Excess exemption and credits 3
Net income exempt from normal tax
Net income subject to normal tax
11,089,457
74.37
3,820,355
25.63
1
2
For general explanations, see pp. 1-4.
Interest received on Liberty 4 and 4J4 percent bonds, United States savings bonds, and Treasury bonds,
owned in excess of $5,000, and on obligations of certain instrumentalities of the United States (see items 9
and 25, Form 1040, p. 146) reported on returns with net income of $5,000 and over.
3
Includes taxable interest received on partially tax-exempt Government obligations reported on returns
with net income under $5,000.
CAPITAL GAINS AND LOSSES
The special provisions in the revenue acts for capital gains and losses
from the sale of assets held more than two years apply, for capital gains,
to sales after December 31, 1921, and prior to January 1, 1934, and
for capital losses, to sales after December 31, 1923, and prior to
January 1, 1934. A summary of the provisions of the Revenue Act
of 1921 and subsequent acts, affecting the tax on capital gains, and
of the provisions of the Revenue Act of 1924 and subsequent acts,
affecting the tax credit on capital losses, is found on pages 8 and 9
of the Statistics of Income for 1933 and in the synopsis of laws in this
report, pages 138-139. The "total income" and "net income" for
individual returns for 1922 through 1933, as presented in the historical tables in this report, pages 37-42, include "capital net gains,"
whereas for the years 1924 through 1933 the "net income" has not
been reduced by and "deductions" have not been increased by the
amount of "capital net losses" reported for tax credit.
Under the Revenue Act of 1934 the definition of capital assets is
extended to include assets held by the taxpayer, regardless of time
held, instead of only assets held over two years. Also, certain percentages of the gain or loss recognized upon such sales or exchanges
are taken into account in computing net income. These percentages
vary according to the period for which the assets have been held. The
deduction for net capital losses is limited to an amount not in excess
of $2,000, after subtracting the prorated gains from the sales or
exchanges of capital assets.
8
STATISTICS OF INCOME
The net income reported on the individual income tax returns for
1934 and 1935 includes net capital gains and net capital losses computed in accordance with the above limitations. It is not possible,
by using the net capital gain and net capital loss on the returns for
1934 and 1935, to adjust the "total income/' "net income," and
"deductions" so that they will be comparable with these items tabulated for prior years. Moreover, net capital gains and losses reported
on individual income tax returns for 1934 and 1935 are not comparable
with "profit and loss from sale of real estate, stocks, and bonds, etc.,"
"capital net gain," or "capital net loss" which were reported on
returns in prior years.
SOURCES OF INCOME AND DEDUCTIONS
In the table on page 9 there appears a distribution, by sources, of
the income and deductions reported by individuals. Income from
the various sources represents the net amount by which the gross
receipts exceed the deductions allowed, as reported in the schedules
of the return (see Form 1040, p. 146), and in aggregate represents the
sum of the net amounts of income from each source. Net losses
reported under "income" items on the face of the returns are transferred in tabulation to deductions, which also include amounts
reported on the return under "deductions."
Income from partnerships and fiduciaries does not include amounts
received through these entities from dividends on stock of domestic
corporations or from taxable interest on obligations of the United
States, since these items are reported under their respective classifications. In returns for 1934 and 1935, the income from partnerships
and. fiduciaries includes the net capital gain and loss resulting from
their sales of capital assets.
With reference to the amount of net capital gains and net capital
losses, attention is directed to the provisions of the Revenue Act of
1934, as described in the section of the text entitled "Capital gains
and losses."
The items of "interest paid" and "taxes paid" which are reported
under "deductions" on the individual income tax returns do not
include amounts reported as business deductions in schedules A and B.
Interest paid is reported as item 13, on the face of the return, Form
1040, in accordance with the following instructions:
Enter as item 13 interest paid on personal indebtedness as distinguished from
business indebtedness (which should be deducted under schedule A or B). Do
not include interest on indebtedness incurred or continued to purchase or carry
obligations (other than obligations of the United States issued after September 24,
1917, and originally subscribed for by the taxpayer) the interest upon which is
wholly exempt from taxation.
Taxes paid exclude (1) the Federal income tax, (2) estate, inheritance, legacy, succession, and gift taxes, (3) income and profits taxes
paid to foreign countries or possessions of the United States, which are
allowed as a credit against the tax, and (4) taxes reported on Form
1040F, schedule of farm income and expenses. Taxes paid are
reported as item 14 on the face of the return, Form 1040, in accordance
with the following instructions:
9
STATISTICS OF INCOME
Enter as item 14 personal taxes and taxes paid on property not used in your
business or profession, not including those assessed against local benefits of a kind
tending to increase the value of the property assessed. Do not include Federal
income taxes, nor estate, inheritance, legacy, succession, and gift taxes, nor
taxes imposed upon your interest as shareholder of a corporation which are paid
by the corporation without reimbursement from you, nor income taxes claimed
as a credit in item 33, No deduction is allowable for any portion of foreign income and profits taxes if a credit is claimed in item 33,
A historical summary of taxes paid for the years 1927 through 1932
and of interest paid for the years 1928 through 1932 is found in the
1932 Statistics of Income, table 8A, page 80.
Sources of income and deductions on individual returns for 1985,
amounts and percentages *
Amount
(thousands
of dollars)
Sources of income and deductions
Sources of income:
Salaries, wages, commissions, fees, etc
Business profit
Partnership profit 2
Net capital gain 3
Rents and royalties
Dividends on stock of domestic corporations
Income from fiduciaries 2
Taxable interest on partially tax-exempt Government obligations
Other taxable interest 3
Other income
Total deductions
Net income
_.
9,900,578
1,855,019
739,822
509,714
572,060
2, 234, 727
328,978
43,820
900,501
231,286
57.18
10.71
4.27
2.94
3.30
12.91
1.90
.25
5.20
1.34
17,316, 505
Total income
Deductions:
Business loss
Partnership loss2
Net capital loss 3
Interest paid 8
Taxes paid 6
Contributions..
Other deductions
Percent
100.00
67,453
23,876
145,728
503,730
596, 559
305,155
764,191
.39
.14
.84
2.91
3.45
1.76
4.41
2,406,693
13.90
14,909,812
86.1©
1
2
3
For general explanations, see pp. 1-4.
See text, p. 8.
For explanation of changes in 1934 Act affecting net capital gain and net capital loss, see text, pp. 7-8,
and synopsis of laws, pp. 138-139.
4
Interest received on 4 and 4H percent Liberty bonds, United States savings bonds, and Treasury bonds,
owned in excess of $5,000, and on obligations of certain instrumentalities of the United States (see items 9
and 25, Form 1040, p. 146) reported on returns with net income of $5,000 and over.
5
Includes taxable interest received on partially tax-exempt Government obligations reported on returns
with net income under $5,000.
6
Excludes amounts reported in schedules A and B as business deductions.
The following table shows, for a limited number of net income
classes, the distribution of total income by sources, specific items of
deductions, and net income. The distribution by States and Territories and by more detailed net income classes is shown in basic
tables 6 and 7, respectively (pp. 85-92). The following text table and
basic table 7 also show the total number of returns in each net income
class and, for returns with net income of $5,000 and over, the number
of returns on which were reported specific sources of income and deductions. The table on page 12 shows for a limited number of net income
classes the percentage distribution of sources of income, deductions,
and net income.
10
STATISTICS OF INCOME
Sources of income and deductions, individual returns for 1935, by net income classes;
also total number of returns, and for returns with net income of $5,000 and over, number of returns for each specific source of income and deduction 1
[Net income classes and money figures in thousands of dollars]
Sources of income
Salaries, wages,
commissions,
fees, etc.
Total
number
of
returns
Net income classes
Number
of
returns
Under 5 (estimated)
4,074,897
339,842
123, 5G4
26,029
8,033
1,395
896
206
109
41
5-10..
10-25
._
26-50
50-100
100-150
150-300
300-500
500-1,000
1,000 and over
Total
4, 575, 012
Number
of
returns
Amount
7,191, 699
()
228, 606 1, 385, 661
75, 321
830, 238
290, 436
15,022
134,072
4, 646
807
31, 645
523
27, 360
102
6,343
57
2,218
22
905
8
325,106
Partnership
profit2
Business profit
()
66, 627
19, 435
2,851
667
73
50
7
3
1
), 900, 578
Amount
1,167, 552
376,394
210, 783
62,879
26, 564
4,840
4,079
473
417
1,036
«89, 714 1,855,019
Number
of
Amount
returns
33,244
16, 411
4,204
1,442
275
158
33
13
2
208, 202
159, 246
170, 537
91,972
59, 436
20,922
19, 389
5,929
3,473
716
8 55,782
739,822
()
Sources of income—Continued
Net capital gain i
Net income classes
stock
Rents and royal- Dividends on corof domestic
ties
porations
Number
Number
Number
of
Amount
of
of
Amount
returns
returns
returns
"Under 5 (estimated).
5-10
10-25
25-50
50-100
100-150
150-300
300-500
500-1,000....
1,000 and over
_
- „
Total-
63,005
38, 441
10,969
3,846
712
454
108
60
22
109, 796
90,061
118,767
75, 943
53, 587
15, 969
14, 874
9,182
12,734
8,802
27,162
6,023
1,899
338
227
47
40
16
8 117, 617
509,714
102,571
()
373,850
89,183
65, 323
25,869
11, 789
2,512
2,576
556
345
()
184, 427
93,657
23, 218
7,553
1,353
879
201
108
41
8
572,060
Income from2
fiduciaries
Number
of
Amount
returns
420, 543
307,936
462,011
348, 438
266,837
99,767
125,988
63, 414
63,908
75,884
311,437 2, 234, 727
()
25,089
16,152
4,904
1,735
296
180
53
33
1
48, 450
96, 654
64, 722
80,736
45,085
25,039
6,798
4,997
3,081
1,224
642
328,978
Sources of income—Continued
Net income classes
Taxable interest on
partially t a x exempt Govern-4
ment obligations
Number
of
returns
Under 5 (estimated).
5-10—
25-50
50-100
100-150
150-300
300-500...
600-1,000
1,000 and over
Total.
For footnotes, see p. 11.
Amount
18,776
14,432
4,909
1,760
312
217
52
26
11
43, 820
Other
income 5
Number
of
returns
11,984
15,606
9,055
4,800
807
1,212
158
170
28
40,495
Other taxable
interest
Total
income
Amount
152,148
71,870
18, 491
6,419
1,160
768
182
94
38
()
452,479
157,976
156, 232
72, 605
36, 731
9,016
8,023
3,080
2,597
1,760
108,052 10,128,827
38,326 2,681,491
35, 663 2,145,897
19, 659 1,041,942
632,243
13,388
196, 559
4,282
213,140
4,643
95, 554
3,338
89,183
2,097
91, 670
1,839
251,170
900, 501
231, 286 17, 316, 505
()
8
11
STATISTICS OF INCOME
Sources of income and deductions, individual returns for 1985', by net income classes;
also total number of returns, and for returns with net income of $5,000 and over, number of returns for each specific source of income and deduction 1—Continued
[Net income classes and money figures in thousands of dollars]
Deductions
Partnership loss 2 Net capital loss 3
Business loss
Interest paid a
Net income classes
Number
Number
Number
Number
of
of
of
of
Amount
Amount
Amount
Amount
returns
returns
returns
returns
Under 5 (estimated)
5-10
10-25
25-50_.
50-100
100-150.
150-300
300-500..
500-1,000
l,00€and over
Total
5,908
3,531
1,137
497
102
90
25
22
11
33, 740
9, 686
10,313
5,380
3,440
1, 062
1,396
762
489
1,186
1 1 , 323
67,453
()
8
3,381
1,895
595
209
60
32
10
2
2
10, 763
4,166
3,723
3, 466
1,080
250
384
31
1
12
6,186
23,876 8 68,953
()
8
76, 747
32, 423
24, 445
7,989
2,981
567
411
99
50
18
262,999
99,129
74,171
32, 443
18, 633
4,801
4,746
2,625
3,328
858
145,728 269,745
()
37, 221
22,496
6.280
2,157
414
280
64
30
11
503, 730
I
Deductions—Continued
Taxes paid
Net income classes
6
Contributions
Number
Number
of returns Amount of returns Amount
Under 5 (estimated)
5-10
10-25
25-50
50-10O.
100-150
150-300
300-500
500-1,000
1,000 and over
Total
O
280,679
108, 666
23,730
7,530
1,311
859
195
100
40
8
328,988
96, 355
79,944
39,454
24, 985
7,916
8,964
3, 261
2,995
3,697
423,110
596, 559
Other
deductions 5
Total
deductions
Net income
256, 231
98,067
21, 591
6.861
1,222
805
184
95
37
8
156,975 444,198 1, 314, 410 8,814,418
45, 610 110,720
398,088 2, 283,402
37, 789 93, 241
323, 625 1,822, 271
22, 421 4«, 481
159, 633
882,309
16, 261 29,090
96,471
535, 772
6,022
9,562
30,180
166, 37S
7,514
9,815
33, 229
179,911
4,320
6,549
17, 647
77,907
3, 790
4,718
15, 371
73,811
4,454
7,816
18,040
73. 630
385,093
305,155
764,191
2,406,693
14,909,812
1 For general explanations, see pp. 1-4.
2 See text, p. 8.
3 For explanation of changes in 1934 Act affecting net capital gain and net capital loss, see text, pp. 7-8,
and synopsis of laws, pp. 138-139.
4
Interest received on Liberty 4 and 4 34 percent bonds, United States savings bonds, and Treasury bends,
owned in excess of $5,000, and on obligations of certain instrumentalities of the United States, is subject
to surtax if the surtax net income is over $4,000. (See items 9 and 25, Form 1040, p. 146.)
s The number of returns is not available, since the amount of "Other income" is secured by deducting
the sum of specific sources of income from total income, and "Other deductions" is determined by subtracting the sum of specific deductions from total deductions.
6
Excludes amounts reported in schedules A and B as business deductions.
7
Not available.
8
Excludes returns with net income under $5,000.
9
Taxable interest received on partially tax-exempt Government obligations reported on returns with net
income under $5,000 is tabulated with "other taxable interest."
10
Includes taxable interest received on partially tax-exempt Government obligations reported on returns
with net income under $5,000.
12
STATISTICS OF INCOME
Percentage distribution of sources of income, deductions, and x income, individual
net
returns for 1935, by net income classes
Sources of income
Net income classes
Salaries,
wages,
commis- Business
profit
sions,
fees, etc.
(Thousands of dollars)
Divion
Partner- Net cap- Bents dends of
stock
ship
and
3
profit 3 ital gain royalties domestic
corporations
2.06
5.94
7.95
8.83
9.40
10.64
9.10
6.20
3.89
.99
11.53
14.04
9.82
6.03
4.20
2.46
1.91
.50
.47
1.13
57.18
10.71
71.00
51.68
38.69
27.87
21.21
16.10
12.84
6.64
2.49
Under 5 (estimated)
5-10
10-25
_
25-50
50-100
100-150
.
150-300
300-500
500-1,000
1,000 and over
Total
3.69
3.32
3.05
2.48
1.86
1.28
1.21
.58
.39
.78
1.08
3.36
5.53
7.29
8.48
8.12
6.98
9.61
14.28
9.60
4.27
2.94
0.95
2 41
3.76
4.33
3 96
3.46
2.34
3.23
1 37
.06
4.15
11.48
21.53
33.44
42.20
50.76
59.11
66.36
71.66
82.78
3.30
12.91
1.90
Sources of income— Continued
Taxable
interest
on partially
tax-exempt
Government
obligations «
Net income classes
(Thousands of dollars)
Under 5 (estimated)
5-10
10-25
25-50
50-100
100-150
150-300
300-500
. - 500-1 000
1,000 and over
Total
-
-
Other
taxable
interest
Other
income
Income
from
fiduciaries 2
.70
]Deductions
Total
income
Business Partner- Net capship
loss
loss a ital loss a
1.07
1.43
1.66
1.89
2.12
2.18
2.18
3.49
2.35
2.01
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
0.33
.36
0.11
.16
87
76
.41
57
.17
19
.03
7 4.47
5.89
7.28
6.97
5.81
4.59
3.76
3.22
2.91
1.92
.48
.52
.55
.54
.65
.80
.55
.17
.33
.17
.13
.18
.03
1.29
.01
.77
47
.29
19
.10
06
.02
.25
5.20
1.34
100.00
.39
.14
.84
(6)
0.45
.73
0.76
1.20
1.13
Deductions— Continued
Net income classes
(Thousands of dollars )
Under 5 (estimated).
5-10 .
10-25
25-50
50-100
100-150 . .
150-300
_
300-500
500-1,000
1,000 and over
Total
Interest
paid s
2.60
3.70
3.46
3 11
2,95
2.44
2.23
2.75
3.73
.94
2.91
Taxes
paid 8
3.25
3.59
3.73
3.79
3.95
4.03
4.21
3.41
3.36
4.03
3.45
Contributions
1.55
1.70
1.76
2.15
2.57
3.06
3.53
4.52
4.25
4.86
1.76
Other
deductions
4.38
4.13
4.35
4.65
4.60
4.86
4.60
6.86
5.29
8.53
4.41
Total
deductions
12.98
14.84
15.08
15.32
15.26
15.35
15.59
18.47
17.24
19.68
13.90
Net
income
87.02
85.15
84.92
84 68
84.74
84.65
84.41
81.53
82.76
80.32
86.10
2
i For general explanations, see pp. 1-4.
See text p. 8.
• For explanation of changes in 1934 Act affecting net capital gain and loss, see text, pp. 7-8, and synopsis
of laws, pp. 138-139.
• Interest received on Liberty 4 and 4\i percent bonds, United States savings bonds, and Treasury bonds,
owned in excess of $5,000, and on obligations of certain instrumentalities of the United States is subject to
surtax if the surtax net income is over $4,000. (See items 9 and 25, Form 1040, p. 146.)
• Excludes amounts reported in schedules A and B as business deductions.
6
Taxable interest received on partially tax-exempt Government obligations reported on returns with net
income under $5,000 is tabulated with "other taxable interest."
7
Includes taxable interest on partially tax-exempt Government obligations reported on returns with net
income under $5,000.
13
STATISTICS OF INCOME
FREQUENCY DISTRIBUTION OF SELECTED SOURCES OF INCOME AND LOSS BY NET
INCOME CLASSES AND BY SIZE OF EACH SOURCE OF INCOME AND LOSS
For returns with net income of $5,000 and over, there is shown in
the following table the frequency distribution of selected sources of
income and loss by net income classes and by size of each source of
income and loss.
Sources of income not included in this tabulation are partnership,
fiduciary, interest, and other income. The total income received
through partnerships and fiduciaries cannot be shown in this table as
such income may not be fully included under these items in the
individual income tax returns. The instructions on the return
Form 1040 provide as follows:
Enter as item 5 your share of the profits (whether received or not) (or of the
losses) of a partnership, syndicate, poo], etc.. and as item 6 income from an estate
or trust, except that the share of (a) taxable interest on obligations of the United
States, etc., shall be included in schedule D, and (b) profits which consisted of
divdends on stock of domestic corporations which are subject to income tax shall
be included in item 10 (a) on the return.
Individual income tax returns for 1935, showing the frequency, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over
SALARIES AND WAGES
[Net Jncome clas ses a n d salary and wage classe 3 in t h o u s a n d s of dollars]
Salary and wage classes
Net income
classes
5-6
6-7
7-8
__
8-9
9-10
10-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
_ .
300-400
400-500
500-750
750-1,000
1,000 and over
Aggregate Under 0.1
_.
Total
78020—38
0.1-0.2
91,687
57,132
36,483
24,827
18,477
46, 787
18, 753
9,781
5,673
6,208
3,141
1,897
1,094
760
536
359
807
315
129
79
70
32
40
17
22
751
521
364
284
210
677
290
180
91
137
68
41
18
24
14
11
20
15
5
3
1
1
1
3,727
2,747
0.3-0.4
391
259
175
140
93
302
137
71
40
47
24
17
9
8
5
0.4-0.5
3
325,106
0.2-0.3
2
571
397
281
205
144
468
217
120
89
96
40
34
13
16
8
10
21
5
5
2
2
418
305
226
132
132
325
159
96
50
71
48
26
14
12
6
2
16
9
1
6
1
3
2
1
1,731
1-2
317
216
129
108
74
217
106
52
31
49
18
12
8
9
5
2
7
6
1
1
1
1,594
1,033
637
495
377
875
389
253
144
150
91
57
31
29
19
14
30
11
9
3
4
1
5
1
1
3 453
2,182
1,346
890
647
1,631
679
293
194
210
107
83
37
32
22
12
43
17
7
4
3
1
2
1
2
1,369
6,253
11,898
1
2,049
0.5-1
14
STATISTICS OF INCOME
Individual income tax returns for 1985, showing the frequency•, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over—Continued
SALARIES AND WAGES—Continued
[Net income clas3ses and salary and wage classes in thousands of dollars]
Salary and wage classes—C ontinued
Net income classes
3-4
2-3
_ .
10-15
9,849
3,648
1,830
1,070
683
1,494
490
214
127
107
62
35
22
16
6
8
12
4
63, 637
42,062
26, 805
16, 418
8,763
10, 598
2,810
1,256
641
728
302
169
109
56
40
27
55
20
10
7
5
6
2
5
1
726
1,019
1,608
2,989
5,795
22, 630
3,931
1,383
694
656
326
164
106
63
43
28
50
23
11
7
5
19, 681
174, 532
42, 265
50-75
75-100
1
1
1
1
1
12, 418
Net income classes
Total..
5,708
2,945
1,526
996
684
1,583
600
303
147
161
71
38
31
14
7
4
16
3
1
1
1
5-10
2
__
Total
5-6
6-7
7-8
8-9
9-10
10-15
15-20
20-25
25-30
30-40 .
40-50
50-60
60-70
_ _
70-80
80-90
90-100
100-150 .__
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000 and over
4,109
2,383
1,379
866
598
1,607
542
316
165
178
95
54
31
27
20
12
18
7
4
1
3
12
7
14
7
5
49
85
153
515
1,317
420
212
89
76
44
30
73
23
5
4
3
2
_
3,152
14, 840
40-50
30-40
toco to
5-6
6-7
7-8
8-9
9-10
10-15
15-20
20-25
25-30
30-40
40-50
50-60 _
60-70
70-80
80-90
90-100
100-150 .
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000 a n d over
4-5
4
4
3
4
3
22
29
33
43
278
508
199
76
60
30
26
49
16
4
3
2
1
4
6
4
3
2
4
6
14
14
19
71
183
327
231
140
84
40
95
33
15
9
9
7
5
15-20
7
1
100-250
25-30
102
109
118
164
194
3,825
6,418
1,796
711
645
246
147
84
42
45
16
50
16
5
3
7
2
4
1
2
28
26
32
44
49
358
1,636
2 439
839
626
244
139
89
48
27
29
48
16
5
3
2
1
1
10
12
7
12
22
110
218
797
1 124
671
270
129
68
35
31
21
41
8
6
2
1
14, 752
6,729
3,599
500-1,000
1,000 a n d
over
250-500
1
1
5
3
8
7
5
15
8
23
50
71
49
59
19
6
7
2
1
4
4
2
4
3
6
5
3
9
18
98
62
24
16
10
6
2
2
1,401
20-25
2
2
344
280
1
1
2
2
6
1
1
4
1,323
1
1
15
1
2
1
1
15
STATISTICS OF INCOME
Individual income tax returns for 1935> showing the frequency, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over—Continued
BUSINESS PROFIT
[Net income classes and business profit classes in thousands of dollars]
Business profit classes
Net income classes
Aggregate
Under
0.1
0.1-0.2
0.3-0.4
0.2-0.3
268
191
127
74
64
132
43
25
8
16
8
3
5-6
6-7
._
7-8
8-9
9-10
10-15
15-20 . .
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250 .
250-300
300-400
400-500
500-700
750-1,000
1,000 and over
26 430
16, 766
10, 788
7 364
5,279
12, 712
4,548
2,175
1 177
1,121
553
275
161
116
69
46
73
28
13
9
2
5
2
1
1
354
227
126
98
76
179
73
27
25
22
9
1
4
3
1
1
4
317
183
134
80
46
141
58
30
14
18
12
3
1
1
1
1
89,714
1,231
1,043
2-3
3-4
4-5
5-10
1,678
865
506
291
194
444
137
70
32
33
16
7
2
3
1
2
2
1,997
969
495
280
190
396
106
66
24
24
18
6
2
3
3,024
941
578
296
207
402
100
54
19
26
8
4
15, 636
11, 305
7,301
4,851
2 745
2,737
558
189
93
78
31
11
8
11
6
217
142
101
59
50
131
48
20
19
8
2
3
4
Net income classes
5-6
6-7
7-8
8-9
. .
9-10
10-15
15-20
20-25
25-30
..
30-40
40-50
.
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400.
400-500
500-750
750-1,000
1,000 and over
Total
1
2
1
4
3
3
1
4
2
1
1-2
0.5-1
205
120
64
63
45
93
39
17
7
7
1
Total...
0.4-0.5
1
917
578
357
215
151
363
157
63
30
29
26
8
5
5
1
2
1
3
1 535
934
552
340
276
528
187
45
53
15
10
3
6
5
2
3
3
3
1
1
2
2
1
2
967
806
10-15
5
4
1
1
1
677
20-25
15-20
219
246
370
640
1 166
6,223
853
209
91
62
27
10
7
4
3
3
2
1
1
2,912
32
30
53
51
50
802
1,796
352
106
75
36
16
11
4
3
2
4,595
25-30
9
17
6
15
13
84
317
760
168
83
29
16
9
2
2
3
1
1
10
3
4
2
1
27
37
155
370
126
21
14
1
1
3
1
2
2
1
1,535
781
1
1
4,283
4,578
5,662
45, 573
10,137
3,420
16
STATISTICS OF INCOME
Individual income tax returns for 1935, showing the frequency, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over—Continued
BUSINESS PROFIT—Continued
isses a n d business profit classes in thousands of dollars]
[Net income ch
Business profit classes—Continued
Net income classes
30-40
8
9
5
1
2
19
31
31
115
393
95
25
16
5
5
1
2
5-6
6-7
7-8
8-9
9-10
10-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000 and over
50-75
40-50
2
2
2
4
2
5
3
7
9
48
155
38
11
6
1
1
1
1
75-100
1
1
3
2
1
2
4
4
1
17
36
92
74
34
9
10
4
100-250
1
1
2
1
1
2
1
2
2
5
2
24
23
10
9
1
1
250-500
500-1,000 1,000 and
over
2
2
2
3
1
2
1
2
4
27
11
5
1
3
1
1
1
1
763
Total
298
297
87
63
5
1
BUSINESS LOSS
[Net income classes and business loss classes in thousands of dollars]
Business loss classes
Net income classes
Aggregate
2,129
1,386
1,029
755
609
1,945
983
603
374
477
286
192
111
87
66
41
102
54
22
14
13
12
11
11
11
218
134
98
51
45
122
48
21
21
14
6
6
5
1
11,323
795
1
3
211
134
84
52
48
113
51
19
10
18
5
7
1
3
3
3
2
0.2-0.3
167
102
74
48
31
97
45
23
5
1
3
0.3-0.4
153
107
50
53
31
77
48
14
19
18
5
4
5
4
3
2
1
OA-0.5
112
72
46
39
27
102
39
25
12
19
5
coco
Total
0.1-0.2
COCOI>
5-6
6-7
7-8
8-9
9-10
10-15
15-20
20-25
25-30
30-40
40-50 .
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500 , .
500-750
750-1.000
1,000 and over
Under
0.1
2
1
0.5-1
1-2
456
264
201
156
135
358
150
91
60
57
40
20
13
6
4
3
7
2
1
398
254
204
177
109
435
193
109
58
82
50
24
13
11
7
5
9
6
2
1
1
1
764
633
593
510
2,024
2,146
17
STATISTICS OF INCOME
Individual income tax returns for 1985, showing the frequency, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over—Continued
BUSINESS LOSS—Continued
[Net income classes and business loss classes in thousands of dollars]
Business loss classes—Continued
Net income classes
2-3
5-6
6-7
. -
173
132
98
65
7-8
8-9
9-10
10-15
15-20
20-25
25-30
30-40
40-50
50-60 . _
60-70
70-80
80-4.0
90-100
100-150
150-200
200-250 . _.
250-300
300-400
. .
400-500
500-750
750-1 000
1,000 and over
66
212
104
87
61
58
32
28
15
7
8
4
7
5
80
75
67
41
133
96
50
30
44
22
12
8
8
4
7
10
4
52
26
35
27
27
79
53
34
18
36
15
19
9
8
5
1
9
3
2
1
.
1
3
723
10-15
76
70
49
36
45
127
100
80
39
67
54
35
19
16
19
7
18
11
5
4
4
2
1
1
1,167
4
15-20
22
12
13
8
9
54
27
21
15
20
17
17
10
8
6
3
13
5
2
1
I
Net income classes
30-40
9
3
2
1
1
3
1
2
15
13
13
5
9
13
4
3
4
5
2
6
5
1
1
2
1
1
.._
__
3
2
1
2
1
459
890
288
117
100-250
250-500
50-75
40-50
75-100
25-30
20-25
1
Total
5-6.
6-7
7-8
_
8-9
9-10
10-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400.
400-500
500-750
750-1,000
1,000 and over
5-10
4-5
3-4
1
8
5
8
3
8
7
2
6
1
3
4
4
1
1
1
2
2
75
1
2
1
4
4
1
1
2
1
2
1
3
6
2
1
2
3
2
1
2
1
4
1
3
1
...
Total
1
3
2
2
1
1
1
1
1
2
2
I
1
1
1
1
I
24
21
1
1
2
37
1
1
1
2
1
1
1
1
1
1
1
1
1
2
7
9
2
1
2
4
5
3
1
4
2
1
3
4
1
2
1
2
38
500-1,000 1,000 and
over
1
1
2
1
1
1
18
STATISTICS OF INCOME
Individual income tax returns for 1935, showing the frequency\ by sizey with which
selected sources of income and loss appear in net income classes of $5,000 and
over—Continued
NET CAPITAL GAIN
[Net income classes and net capital gain classes in thousands of dollars]
Net capital gain classes
Net income classes
Aggregate
5-6
6-7
7 -8
8-9
9-10
10-15
15-20
20-25
25-30
.
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100- L50 .
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000 and over
_.
- .
TotaL.
Net income classes
5-6
6-7
7-8
8-9 .
9-10
10-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
25O-300
300-400
400-500
500-750
750-1 000
1,000 and over
Total
Under
0.1
0.1-0.2
0.2-0.3
0.3-0.4
20,351
15,412
11, 342
8,839
7,061
21, 573
10, 672
6,196
3,921
4,524
2,524
1,541
885
656
465
2S9
712
258
121
75
67
41
43
17
22
3,750
2,665
1,809
1,300
987
2,661
1,179
578
352
340
184
100
60
41
23
17
40
14
3
3
1
2
3
1
2,324
1,680
1,090
839
647
1,865
702
374
224
212
118
60
33
23
21
14
28
8
3
1
1
1
1
1,744
1,177
837
644
463
1,308
570
315
172
169
84
53
26
18
11
14
14
8
2
1
1
1
117, 617
16,113
10, 269
7,633
3-4
4-5
5-10
2-3
1,467
1,193
916
738
636
1,852
869
511
316
356
193
123
56
38
31
18
38
17
8
C
3
1
1,400
942
664
477
368
999
471
244
140
130
77
44
21
19
7
10
5
6
0.5-1
1-2
2,983
2,365
1,797
1,355
1,131
3,20J
1,535
858
527
566
281
164
76
72
41
32
62
21
2
1
1
3,321
2,533
1,746
1,359
1,002
3,003
1,397
763
449
486
240
141
74
41
34
23
47
19
14
6
5
1
1
5,057
16, 705
17,093
1,120
754
542
437
290
892
389
198
136
113
69
36
22
11
13
4
21
6
1
1
1
8
4
3
1
1
2
1
6,032
10-15
15-20
20-25
853
754
591
478
405
1,284
603
349
228
264
141
79
45
38
18
14
30
5
8
2
2
1
2
590
472
443
347
268
894
443
300
182
182
116
83
29
32
22
8
32
7
4
3
4
3
755
829
829
791
774
2, 495
1, 279
111
460
629
341
186
106
79
56
35
98
31
10
5
5
2
2
3
1
27
34
50
51
60
958
731
415
280
344
162
104
69
42
31
15
46
17
7
4
12
7
16
12
18
107
419
261
180
206
110
60
55
29
27
13
28
14
5
c
1
3
1
2
4,464
10, 578
3,460
1,585
25-30
1
6,194
1
9,387
0.4-0.5
2
4
4
3
7
5
3
24
51
202
124
183
120
51
25
32
14
10
26
12
5
3
3
2
2
911
3
4
2
1
13
12
26
128
133
74
42
40
23
18
7
22
3
4
1
1
1
3
1
562
19
STATISTICS OF INCOME
Individual income tax returns for 1935, showing the frequency, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over—Continued
N E T CAPITAL GAIN—Continued
[Net income ckisses a n d n e t capital gain classes in t h o u s a n d s of dollars]
Net capital gain classes—Continued
Net income classes
30-40
50-75
40-50
7.5-100
100-250
250-500
500-1,000
1,000 and
over
1
5-6
6-7
7-8
8-9
9-10
10-15
15-20
20 25
25-30
30-40
40-50
50-60
60-70
70-80 .
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000 and over
1
2
1
2
7
5
27
76
64
33
23
15
15
24
10
6
2
4
1
1
3
3
6
4
4
16
15
62
55
49
42
28
47
11
11
3
4
2
2
1
1
588
325
4
2
4
2
4
1
2
1
368
4
38
21
12
15
10
5
3
2
5
3
7
7
3
1
1
9
5
3
115
1
Total
1
1
1
3
2
12
16
16
36
16
2
2
4
1
1
CO
1
4
6
16
13
12
163
120
82
54
30
25
7
25
13
4
7
1
2
1
7
132
25
18
3
N E T CAPITAL LOSS
[Net income classes and net capital loss classes in thousands of dollars]
]N"et
capital loss classes
Net income classes
Aggregate Under 0.1 0.1-0. 2
5-6
6-7
7-8
8-9
9-10
10-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90.
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000 and over
Total
_ .
._..
_
_._
12,054
9,047
6, 591
5,234
4, 295
12, 801
6,232
3,463
2,266
2,598
1,416
851
548
346
243
169
414
161
77
42
40
24
22
8
11
1,873
1,372
909
699
543
1,458
634
359
208
237
112
79
28
28
18
7
32
13
2
2
3
1
68,953
8,617
1,483
'988
614
503
350
1,014
421
207
135
113
91
32
29
17
12
n
26
2
5
3
1
1
0. 2-0.3
1,026
712
585
405
317
859
372
180
100
129
55
34
23
10
3
10
11
6
3
2
1
1
0. 3-0.4
.
845
622
412
294
244
697
309
147
94
93
54
36
31
11
11
5
13
2
2
3
1
0.4-0.5
660
482
362
274
206
617
299
146
80
83
57
29
10
7
4
3
3
3
1
1
1
1
1
1
6,058
4,844
3,330
1-2
2,192
1, 694
1,125
929
759
2,126
985
498
322
315
177
88
59
38
20
20
52
24
4
2
2
2
1
1
1,952
1,497
1,155
944
806
2,518
1,168
638
462
556
283
177
94
72
50
30
72
24
15
9
2
2
4
1
2
11,435
12, 533
1
3, 928
0.5-1
20
STATISTICS OF INCOME
Individual income tax returns for 1935, showing the frequency, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over—Continued
NET CAPITAL LOSS-Continued
[Net income classes and net capital loss classes
in thousands of dollars]
Net capital loss classes—Con.
Net capital loss classes—Con.
Net income classes
Net income classes
5-6
6-7
7-8
8-9
9-10._
10-15_
15-20
20-25
25-30
30-40
40-50
50—60
60-70
70-80
1,986
1,648
1,406
1,160
1,058
3,454
2,007
1,275
855
1,063
576
370
266
163
3-4
4
26
21
15
17
10
40
21
9
5
4
8
2-3
11
11
8
9
2
18
16
4
5
5
3
4
6
to to
2-3
3-4
4
123
83
205
86
45
23
28
16
15
5
7
Total
1
17,923
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000 and over
182
1
1
103
RENTS AND ROYALTIES
[Net income classes and rent and royalty classes in thousands of dollars]
Rent and royalty classes
Net income classes
Aggregate Under 0.1
5-6
_ _
6-7
7-8
8-9 . .
9-10
10-15
15-20 . .
20-25
25-30
30-40
40-50
50-60
60-70
70-80 .
. _
80-90
90-100
100-150
150-200
200-250 .
250-300
300-400
400-500 ._ . _
500-750
750-1,000
1,000 and over
Total
— .
25,022
16,737
11,067
7,928
6,065
16, 425
6,957
3,780
2,282
2 437
1,304
795
465
293
207
139
338
122
68
37
26
21
24
16
16
4,594
3,041
1,988
1,382
1,081
2, 663
1,040
569
297
341
174
106
67
31
23
19
43
12
6
1
4
2
2
102,571
17,488
0.1-0.2
3,605
2,237
1,534
1,020
747
1,941
762
410
208
238
135
61
43
17
14
7
30
7
4
2
3
1
3
2
0.2-0.3
2,604
1,682
1,040
654
552
1,394
533
297
180
185
81
46
25
25
14
13
21
6
1
2
2
2
1
0.3-0.4
1,977
1,322
792
577
418
1,129
428
216
141
139
67
51
27
25
14
8
26
7
2
1
4
1
0.4-0.5
1,507
923
601
423
360
823
365
182
112
117
67
33
18
14
12
7
20
4
3
2
1
3
3
1
2
13,031
9,361
7,372
5,600
0.5-1
1-2
3,928
2,564
1,713
1.257
822
2,449
956
539
327
333
184
120
83
44
27
24
40
19
13
8
4
2
2
4
3
2,895
1,962
1,280
938
734
2,035
856
389
272
313
157
108
56
30
31
14
43
15
7
4
2
3
15,465
12,152
4
4
21
STATISTICS OF INCOME
Individual income tax returns for 1935, showing the frequency, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over—Continued
RENTS AND ROYALTIES—Continued
[Net income cla 3ses and rent and royalty classe s in thousands of dollars]
Rent and royalty slasses—C ontinued
Net income classes
.-
-
5, 812
Total
Net income classes
5-6
6-7
7-8
8-9 .
9-10
10-15 .
15-20
20-25
25-30
30-40
40-50
50-60 . .
60-70
70-80
80-90 . .
90-100
100-150.._ .
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000 and over
1 245
932
639
466
361
962
441
240
136
139
76
58
28
12
15
12
25
11
7
2
2
1
30-40
...
Total
7^7
508
355
295
228
604
287
141
102
89
50
39
21
16
5
5
8
6
3
5
1
2
3, 517
40-50
8
5
1
1
6
17
12
33
24
64
22
15
4
4
2
2
3
1
550
376
242
157
144
418
169
113
67
74
44
14
15
10
7
3
9
3
3
1
2
1
2,422
4
3
3
16
34
14
7
3
1
1,202
1,020
712
589
423
1,103
534
282
197
190
95
38
20
25
13
10
24
8
1
4
1
5
6,510
75-100
50-75
2
2
2
2
10-15
15-20
129
127
123
116
156
658
248
138
77
69
42
26
12
7
8
3
10
5
2
2
2
1
20-25
17
20
29
33
21
175
222
100
53
53
29
23
8
9
6
3
7
2
25-30
4
11
12
8
6
31
73
86
39
37
13
16
7
7
3
3
5
3
2
7
4
4
7
4
16
23
40
40
27
14
12
5
6
1
3
4
1
2
1
1,961
812
368
100-250
250-500
500-1,000
217
1,000 and
over
1
1
3
2
5
4
4
7
19
13
12
4
6
1
1
1
1
5
1
1
5
4
4
2
1
2
1
1
1
2
1
4
4
2
2
1
1
2
1
1
5
1
1
10
4
-o to to
5-6
6-7 _ _
7-8
8-9
9-10
10-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000 .
1,000 and over
5-10
4-5
to coco
3-4
2-3
1
1
228
100
97
31
24
2
1
22
STATISTICS OF INCOME
Individual income tax returns for 1985, showing the frequency, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over—Continued
DIVIDENDS
[Net income classes and dividend classes in thousands of dollars
Dividend classes
Net income classes
5-6
6-7
. . .
7-8
8-9
9-10
10-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
_ .
250-300
300-400
400-500
500-750
750-1,000
1,000 and over
.
_
Net income classes
5-6
6-7
7-8 .
8-9
Total
63,308
45,811
32,117
24, 304
18,887
54, 635
25,126
13,896
8,579
< 540
>
5,099
3,030
1,824
1,261
882
556
1,353
516
231
132
128
73
79
29
41
311,437
Total—
9-10
10-15
15-20
20-25 .
25-30
30-40
40-50 . „ _
.
50-60
60-70
70-80
80-80
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1 000
1,000 and over
Under
0.1
Aggregate
.
14, 319
8,768
5,279
3,488
2,493
5, 585
1,671
768
349
297
110
56
25
19
15
6
13
3
1
4,329
3 443
2,605
2,014
1,617
4,412
1 819
914
496
468
206
105
66
38
20
15
20
7
4
6
1
14
2
4,930
3,348
2,182
1,504
1,041
2,610
874
349
193
146
75
29
22
11
3
3
t
1
1
1
1
0.4-0.5
3,816
2,618
1,659
1,195
911
2,100
727
324
154
147
58
23
19
11
8
4
7
1
1
0.5-1
3,005
2,024
1,357
977
645
1,809
621
266
151
123
62
30
16
12
6
3
8
1-2
8,887
6,506
4,395
3,226
2,498
6,342
2,295
1,049
529
449
183
103
61
34
19
19
26
5
2
8,161
6,327
4,496
3,415
2,580
7,247
2,833
1,359
743
629
282
152
66
47
34
15
22
9
2
2
1
1
2,710
2 388
1,836
1,437
1,160
3,330
1 458
692
388
419
157
81
38
24
15
11
19
3
5
4
1
1
24,843
17, 326
13,783
11,116
36,628
4-5
43, 266
3-4
2-3
7,624
4,821
3,077
2,122
1,479
3,529
1,115
487
237
186
79
36
19
1
0.3-0.4
0.2-0.3
0.1-0.2
5-10
10-15
15-20
20-25
2,101
1,674
1,313
1,130
936
2,687
1 223
625
340
323
140
76
40
26
13
10
18
4
1
3,232
3,646
3,601
3,326
2,869
8,943
4,521
2,318
1,318
1,264
538
325
137
97
119
177
241
394
543
4,899
3.015
1,716
987
1,009
408
185
112
69
33
34
42
43
72
829
2,221
1, 392
901
876
409
169
72
61
65
46
41
68
26
7
3
4
36
61
17
5
4
1
25-30
15
16
19
12
20
177
498
1,140
710
813
374
188
77
57
7
6
3
5
7
50
114
317
670
36
38
38
17
50
9
4
1
2
20
34
8
3
2
1
2
18
35
9
4
3
2
2
1
4,224
2,702
1
1
38,422
1
754
373
174
60
50
1
22, 598
16,177
12, 681
36,350
14,045
7,274
23
STATISTICS OF INCOME
Individual income tax returns for 1985, showing the frequency, by size, with which
selected sources of income and loss appear in net income classes of $5,000 and
over—C ontinued
DIVIDENDS—Continued
[Net income classes and dividend classes in t h o u s a n d s of dollars]
Dividend classes—Continued
Net income classes
40-50
30-40
5-6
€-7
7-8
_.
8-9
9-10 . . „
10-15
15-20
.
.
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
. _ ._
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000 and over
Total
9
7
6
9
6
44
67
125
339
1,208
706
366
167
103
68
32
49
15
6
3
75-100
50-75
6
3
2
2
6
19
27
30
40
313
632
349
204
94
55
35
59
10
3
1
4
o
3
3
1
1,898
500-1,000
1,000 and
over
2
4
4
6
11
10
28
33
86
159
194
122
200
37
10
6
3
2
1
3
5
2
5
17
7
15
23
23
40
70
491
303
124
32
26
7
5
1
1
1
1
1
1
1
10
39
65
73
35
12
1
2
919
1,202
245
2
2,261
250-500
1
1
1
2
3,342
3
4
3
4
4
16
18
17
17
87
271
535
513
318
162
77
153
39
9
5
4
100-250
1
2
1
1
3
19
52
17
4
1
2
4
31
39
PROFIT AND LOSS FROM BUSINESS, BY INDUSTRIAL GROUPS, RETURNS WITH NET
INCOME OF $5,000 AND OVER
The profit and loss from business (other than from partnerships)
reported on returns, Form 1040, with net income of $5,000 and over,
are classified in the following table according to nature of business.
For returns with information on schedule A, there are shown the
number of businesses with profit and with loss, total receipts, salaries
and wages paid, and the amount of profit and loss. For returns with
business but without information on schedule A, and for all returns
with business, there are presented the number of businesses with profit
and with loss and the amount of profit and loss. These data represent only such amounts reported by individuals as sole proprietors,
and do not necessarily indicate the principal occupation of the individual nor the total income reported on the return.
In the tabulation of sources of income from individual returns the
classification "business profit" represents items of profit reported on
the returns, as shown hj the total receipts from business or profession,
less cost of goods sold and other business deductions, such as salaries,
interest on business indebtedness, taxes on business or business property, losses from fire or storm, bad debts arising from sales; depreciation, obsolescence and depletion, rents, repairs, and other expenses
as provided for in schedule A of the individual income tax returns,
Form 1040. The "business loss" represents items of loss from
business which occur when deductions exceed the total receipts, as
reported on the returns.
24
STATISTICS OF INCOME
Profit and loss from business (other than from partnerships) by industrial groups, in
Schedule A, number of businesses with profit and loss, total receipts, salaries
but without Schedule A and for all returns with business, number of businesses
for prior years
[Moneyfiguresin
Returns with information on
Schedule A
All returns with business
Business with
profit
Industrial groups
Agriculture and related industries.
Mining and quarrying
Manufacturing:
Food and kindred products
Liquors and beverages (alcoholic and nonalcoholic)
Tobacco products
__
Textiles and their products
Leather and its manufactures Rubber products
_Forest products
Paper, pulp, and products
Printing, publishing, and allied industries-.
Chemicals and allied products
Stone, clay, and glass products
_.
Metal and its products
Manufacturing not elsewhere classified
Total manufacturing
Construction
_
_ __
_
Transportation and other public utilities
Trade:
Retail
Wholesale.. _
. _.
_,
Wholesale and retail
Total trade
Service:
Domestic—Laundries, hotels, restaurants,
etc
Amusements.
_
Curative (medicinal and all other)
Educational
Engineering..
Legal
All other
Total service
FinanceInvestment brokers
Real estate
All other
Total finance
Nature of business not given
Grand total 1935
1934
1933
1932
1931
1930
1929
1928
1927
1928
.
i Less than $500.
. .
Number of
businesses
with
profit
Profit
Number of
businesses
with
loss
Loss
Number of
businesses
Total
receipts
8,029
1,009
43, 928
9,995
5,674
246
19,004
1,151
6,279
666
141,444
20, 968
854
7,387
34
66
736
87, 914
147
35
819
103
26
286
83
719
202
162
753
614
1,528
251
7,710
953
250
2, 263
672
5,721
3,242
1,543
7,296
6, 305
9
1
43
5
2
26
4
54
19
16
44
58
18
1
197
14
1
47
19
117
62
65
175
207
122
29
730
90
24
246
71
632
165
148
682
548
10,971
3,157
106,148
11, 696
3,766
19, 560
6,370
31, 380
14, 668
7,631
55, 647
47, 097
4,803
45,122
315
988
4,223
406,005 |
1,911
1, 231
15, 490
10, 052
130
80
354
233
1,689
1, 062
118, 208
58,108
18,166
3,028
418
21,612
125,137
26, 954
3,728
155,820
1,296
172
16
1,484
2,753
485
79
3, 317
15, 594
2,729
367
18, 690
1 420,777
552,001
58, 229
2, 031,006
1,887
1, 067
20,173
1,554
1,314
11,478
3,411
12, 219
9,810
156,349
14, 413
10, 214
99, 512
26, 582
224
203
454
218
237
556
142
684
1,084
512
260
548
732
229
1,640
889
18,112
1, 268
1,114
9,286
3,035
82,846
37, 804
253,137
27,596
22,252
127, 512
79, 661
40, 884
329, 099
2,034
4,048
35, 344
630, 808
706
1,062
3,735
8,382
6,800
30,125
122
246
203
632
874
830
546
875
3,102
5.503
45, 307
571
2,336
4, 523
114,427
14, 510
109,824
238, 761
4,732
32, 655
789
2,282
3,035
170, 443
89,714
73 889
49, 740
45 547
97, 779
154, 640
228, 475
220,159
212, 919
218,148
687, 467
568, 689
393, 815
354,488
766, 730
1, 215, 452
1, 836, 329
1, 772, 255
1, 704,175
1, 738, 523
11,323
9,969
7,970
33, 713
29, 753
26,791
75, 511
64, 603
43,127
3, 813, 750
3,222, 239
2,414, 325
25
STATISTICS OF INCOME
dividual returns for 1935 with net income of $5,000 and over, showing for returns with
and wages paid, amount of profit and loss, and showing for returns with business,
with profit and loss, and amount of profit and loss; also grand totals for certain items
thousands of dollars]
"Returns with business b u t without information on Schedule A
Returns with information on Schedule A—Continued
Business with profit—
Continued
Business with loss
Salaries and
wages paid
Salaries and
wages paid
NumTotal
ber of
Salaries
busi- receipts
not innesses
Labor cluded
in
labor
Number of
businesses
with
profit
Profit
Number of
businesses
with
loss
1,227
79
Loss
Salaries
not included
in
labor
Profit
16,481
3,199
3,836
654
34, 677
5,953
4,447
167
19,608
1,444
6,117
218
1,655
104
11, 941
736
1, 750
343
9,251
4,041
7,737
3,887
6,490
34
1,217
112
85
66
118
897
735
650
26, 745
2.405
' 766
4, 056
1,093
5,'862
1,012
1,351
10, 707
8,377
389
177
4, 607
396
205
807
259
3, 696
1,414
554
2. 659
2. 593
1,103
199
6,783
861
248
2,150
587
4,854
1,884
1,317
6.511
5,639
8
139
9
18
35
4
2
22
4
43
15
10
38
46
1, 751
136
22
463
584
228
180
77
1,608
1,440
632
5
425
52
927
92
1
1
8
1
114
84
867
1, 358
225
786
665
4
5
200
74
21
21
208
191
101
15
4
44
40
54
11
15
135
146
25
6
89
13
2
40
12
87
37
14
71
66
11
4
6
6
12
39
21
13
74
34
71, 587
21,644
38, 626
261
7,845
1, 504
658
759
580
6,496
54
229
26,158
6,481
4.257
7,985
13,193
8,419
98
66
1,672
741
381
54
142
117
268
179
222
169
2,297
1,633
32
14
86
54
44, 483
8, 479
1, 336
54. 298
86, 718 109, 738
17,879 24, 493
3,260
3. 239
107,836 137, 491
928
143
12
1,433
211
30
1,674
2, 689
632
32
3. 353
2,058
432
73
2, 562
*' 2fiO
51
2, 922
15, 399
2,461
468
18, 329
368
29
4
1,083
30, 378
12, 374
264
43, 046
695
53
6
754
11.221
1,705
6, 795
1, 339
1.304
2,080
4, 531
9,283 10, 704
7. 749
4, 949
28, 660 142, 432
5, 541 11,922
8,478
3,864
19, 298 79, 725
11. 303 23, 921
82, 898 284, 931
180
161
386
179
177
465
120
3,077
1,366
1,144
473
475
918
672
338
132
116
36
91
24
82
567
334
386
191
275
519
180
247
178
2, 061
286
200
2 192
1,515
2. 061
13.917
2,491
1. 736
19. 787
2, 661
44
1,668
8,124
818
2, 463
382
705
454
208
440
583
200
2, 973
5, 540
44,168
366
302
378
58
52
108
149
29
1,075
3
92
44
145
293
322
444
593
333
160
187
633
1,975
1,178
5, 424
34
59
46
188
281
497
966
Labor
1
28,975
Loss
165
4
1
42
19
78
41
52
101
173
401
68
39
60
91
22
7,062
415
0)
33
9
276
368
2.920
3, 564
1,921
2, 486
14. 852
6.406
5, 623
24, 701
88
187
157
19,258
36, 730
432
3,558
1,077
1,947
6,582
140
760
1,370
980
8,577
139
14, 278
11,082
23.182
504
6,682
681
901
1,308
1, 697
9,473
285
974
8, 726 95, 745
7,944 99,985
6,374 111,489
11,588
17,148
14, 363
10,154
9,189
7, 860
22, 098
20, 927
22,218
14, 203 104, 264
9, 286 68. 989
6,613 46, 200
2, 597
2, 025
1, 596
11,615
8,826
4,543
225, 020
219.057
183,167
259, 450 583, 203
237 *?77 499, 700
176! 198 347, 615
1
26
STATISTICS OF INCOME
Basic table 8, pages 93-101, contains, for each industrial group,,
a frequency distribution of the number of returns with business and
the amount of profit and loss from business by size of profit and loss.
The table on pages 24-25 and basic table 8 exclude (1) income from
partnerships reported in item 5 on "face of return, Form 1040 (see p.
146), (2) salaries, wages, fees, commissions, etc., reported in item 1 on
face of return, and (3) business profits and losses reported on returns
with net income of less than $5,000.
WHOLLY AND PARTIALLY TAX-EXEMPT OBLIGATIONS, RETURNS WITH NET
INCOME OF $5,000 AND OVER
Wholly tax-exempt obligations consist of securities the interest on
which is wholly exempt from the normal income tax and surtax of the
Federal Government. Partially tax-exempt obligations comprise
securities the interest on which is exempt from the normal income tax
of the Federal Government and certain issues on which the interest
on the principal amount up to $5,000 is also exempt from surtax.
During the calendar year 1935, the wholly tax-exempt obligations on
which interest was paid consisted of (1) obligations of the Federal
Government: bonds issued on or before September 1, 1917, First
Liberty 3K percent bonds, Treasury bills, Treasury certificates of
indebtedness, Treasury notes, securities issued under the Federal
Farm Loan Act, or such act as amended, (2) obligations of a State,
Territory, or political subdivision thereof, or the District of Columbia, and (3) obligations of United States possessions. Partially
tax-exempt obligations were Liberty 4 and 4% percent bonds, United
States savings bonds, Treasury bonds, and obligations of instrumentalities of the United States other than obligations issued under Federal
Farm Loan Act, or such act as amended.
27
STATISTICS OF INCOME
Wholly and partially tax-exempt obligations reported on individual returns for 1985
with net income of $5,000 and over, showing amount owned and interest received
by nature of obligations and net income classes
[Net income classes and money figures in thousands of dollars]
Amount owned at end of year
Partially tax-exempt obligations
Wholly tax-exempt obligations
Net income
classes
Total
Total
5-6
_.
6-7
7-8
8-9
9-10
10-11
11-12
12-13
13-14
14-15
15-20
_
20-25._
25-30
30-40
40-50
50-60
60-70
70-80
___
80-90
90-100.
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and over
Total
Obligations
of States
and Territories or
political
subdivisions thereof and
United
States
possessions
Obligations
issued
under
Federal
Farm
Loan
Act
96,949
85,435
86, 267
72,963
79, 275
75, 437
62, 260
63,079
57, 226
58, 250
250,011
225,092
182,060
320,968
234,049
156,608
154, 803
129,932
96, 522
58, 213
315,949
125,276
90, 492
147,041
61,482
96, 708
123,997
39, 367
50,109
13,405
10,487
6,453
106,259
63,207
56,079
58, 604
49, 326
54,140
53, 844
41, 789
46,688
41, 333
43,153
184,182
163,404
131, 658
238, 336
163, 276
113,166
104,423
97,091
64, 783
40,862
233,023
82, 266
58,199
106, 654
38,953
71, 309
76,664
20,181
17,121
7,292
9,685
1,681
29, 660
11,864
10,770
10, 502
7, 345
10, 438
7, 273
6,945
6,134
6,194
3,822
23, 762
20,453
16, 504
21, 639
19,075
11, 412
10,885
7,937
10, 779
3,979
19, 724
10,267
6, 791
5, 287
3,693
3, 780
5, 521
1, 233
511
4, 625,186 3, 732,422
2, 562,032
284, 518
170,674
149,359
138,030
118, 742
118, 111
114,183
97,077
92, 747
84, 551
83,674
351,875
303,112
230, 361
392,952
276, 287
182, 418
175, 498
140, 653
107, 797
64, 972
332,070
132, 910
99,106
149,606
64,339
97,182
128,671
40,401
50,290
13,405
11,412
6,463
106,259
For footnotes, see p. 28.
Liberty
3H percent
bonds,
Treasury
notes,
Treasury
bills, and
Treasury
certificates
of indebtedness i
Total
21,879
18, 586
17,161
16,292
14,696
14, 320
13, 526
10,257
9,700
11, 275
42,067
41, 235
33,898
60,993
51,698
32,, 030
39,496
24,904
20,960
13, 372
63, 203
32,743
25, 502
35,100
IS, 836
21, 619
41,811
17, 952
32, 477
6,113
802
4, 771
76,599
73, 725
63,924
51, 763
45, 779
38,837
38, 746
34,818
29, 668
27, 325
25, 424
101,864
78,021
48, 301
71,984
42, 238
25, 810
20,695
10,722
11, 274
6,759
16,120
7,634
8,614
2, 564
2,857
474
4,674
1,035
181
885,872
892, 764
925
10
Liberty 4
and 4H
Obligapercent
tions of
bonds,
certain
United
instruStates
savings mentalities of the
bonds,
United
and
Treasury States»
bonds
64,934
56, 290
45, 777
40,122
33, 798
34,954
31,169
26,390
24,229
23,145
91, 508
68, 539
43, 361
65,903
38, 260
22, 510
16, 823
9,678
10, 296
6,240
14, 774
6,926
6,189
2,016
2,395
313
4, 652
1,027
177
8,791
7,634
5,985
5,658
5,039
3,792
3,649
3,278
3,096
2,279
10,356
9,482
4,939
6,081
3,978
3,300
3,872
1,043
978
519
1,346
707
2,425
548
462
161
22
8
4
925
10 . . . . . . . . . .
793,329
99,435
28
STATISTICS OF IXCOME
Wholly and partially tax-exempt obligations reported on individual returns for 1935
with net income of $5,000 and over, showing amount owned and interest received
by nature of obligations and net income classes—Continued
[Net income classes and money figures in thousands of dollars]
Interest received or accrued during the year
Partially tax-exempt obligations
Wholly tax-exempt obligations
Net income
classes
Total
Total
5-6
6-7
7-8
8-9
9-10
10-11
11-12
12-13 _. . __
13-14
14-15
. __
15-20
20-25
25-30
30-40
40-50
._ . _.
50-60
60-70
70-80_
80-90
90-100
100-150._
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000.
4,000-5,000
5,000 and over...
Total
_
Obligation s
of States
and Terri- Obligations
tories or
issued
political
under
subdivisions there- Federal
Farm
of and
Loan
United
Act
States
possessions
10,607
9,111
7,998
8,025
7, 689
6,633
5,409
6,116
4,833
4,763
22, 385
20,395
17,433
25, 067
17,830
12, 233
10, 841
9,175
6,748
4,270
18, 718
8,636
4,796
7,661
3,687
5, 228
7, 423
1,732
1,974
617
7,481
6,444
5, 748
6,028
5,978
4,974
3,944
4,888
3, 653
3,669
17, 992
17,077
15, 273
22,052
16,045
11,191
9,980
8,561
6,245
3,920
17, 943
8,299
4, 522
7,409
3,566
5,210
7,261
1,720
1,970
617
5,382
4,647
4,336
4, 555
4,929
3,800
2,784
3,747
2,599
2,951
14, 293
12, 511
11,042
17, 300
12, 873
8,859
7,608
7, 076
4, 934
3,087
14,643
6, 629
3, 446
6,117
2,648
4, 516
5, 301
1,247
935
453
460
790
455
790
452
537
3,059
3,059
1,332
282, 342
243, 964
187, 566
Liberty
3H percent
bonds,
Treasury
notes,
Treasury
bills, and
Treasury
certificates
of indebtedness 1
632
553
513
461
1,468
1,245
899
1,012
455
381
420
377
308
594
793
740
764
746
231
1,472
1,534
1,084
1,670
1,104
679
858
428
603
181
989
472
283
223
162
118
199
43
20
5
19
487
2,227
3,033
3,146
3,082
2, 068
1, 653
1, 513
1,056
708
652
2,311
1,198
793
1,069
756
576
1,761
429
1,014
159
4
233
1,727
16,480
39, 917
Liberty 4
and 4H
Obligapercent
tions of
bonds,
certain
United
instruStates
mentalisavings ties of the
bonds,
United
and
Treasury States *
bonds 3
Tctal
3,126
2,667
2,250
1,997
1,711
1,659
1,465
1,228
1,180
1,093
4,393
3,318
2,161
3,014
1,785
1,041
861
615
503
350
775
337
274
252
122
2,725
2,334
1,923
1 781
1,447
1,451
1,315
1,108
1,059
980
3,968
2,827
1,947
2,671
1,600
401
332
327
216
264
207
150
119
121
113
425
491
213
344
185
145
138
51
46
896
723
563
457
230
709
302
236
239
108
18
11
4
159
12
4
5
1
120
66
35
38
13
14
5
1
162
13
7
3
(5)
(5)
38, 378
33, 792
4,587
1 Includes other obligations of United States issued on or before September 1, 1917.
2
Includes obligations of instrumentalities of the United States other than obligations issued under Federal
Farm Loan Act, or such act as amended.
3
Includes interest received on a principal amount not in excess of $5,000 which is wholly exempt from income taxes. (See line (e), column 3, schedule D, Form 1040, p. 146.) The amount of such interest received
on a principal amount in excess of exemption of $5,000, which is reported on the face of the return for tax
computation, is tabulated in "Taxable interest on partially tax-exempt Government obligations" in the text
table on p. 10 and basic table 7 on pp. 88-92.
4
Includes interest received on obligations of instrumentalities of the United States other than obligations
issued under Federal Farm Loan Act, or such act as amended. (See line (f), column 3, schedule D, Form
1040, p. 146.) The amount of such interest received, which is reported on the face of the return for tax computation, is tabulated in "Taxable interest on partially tax-exempt Government obligations" in the text
table on p. 10 and in basic table 7 on pp. 88-92.
6
Under $500.
29
STATISTICS OF INCOME
The tabulation presented herewith shows, for returns with net
income of $5,000 and over, the wholly and partially tax-exempt obligations owned as of the end of the year, and the total wholly and
partially tax-exempt interest received or accrued during the year, segregated by nature of obligation and by net income classes. Bond
holdings frequently vary materially during the year, therefore, the
amount of bonds reported as of the end of the year may include
bonds for which no interest was received or accrued, and, vice versa,
the interest reported may include interest on bonds which have been
sold prior to the end of the year.
Moreover, in some capes where the income is received through
partnerships and fiduciaries, interest is reported for which no corresponding principal amount owned, representing the pro rata share of
the member of the partnership or beneficiary of the estate or trust in
the principal owned by the partnership or estate or trust, is reported.
Schedule D, Form 1040, from which this table is prepared, is a
supplementary informational schedule and frequently is not completely filled out. Therefore, the amount of interest in excess of
exemption may not correspond to the amount of taxable interest on
Liberty bonds, etc., reported on the face of the return for tax computation.
This year, for the first time, data for the partially tax-exempt
United States savings bonds are tabulated with the Liberty 4 and
4% percent bonds and the Treasury bonds.
RETURNS ON FORM 1040 WITH NO NET INCOME
As noted on page 1, the general tables for individual returns in
Statistics of Income do not include data from returns which show no
net income. Such returns, in most instances, are filed in accordance
with the statutory requirements that every individual with gross
income of $5,000 and over, irrespective of the amount of net income or
deficit, file an income tax return. Tabulations prepared from these
returns by deficit classes and by sources of income and deductions are
shown below. The distribution of the returns by States and Territories and more detailed tabulation of the sources of income and
deductions, by deficit classes, are shown in basic tables 10 and 11,.
pages 127-128.
Individual returns for 1935 on Form 1040 with no net income, by deficit classes,
showing number of returns, deficit, and totals for 1981 through 1935
[Deficit classes and money figures in thousands of dollars]
Deficit classes
Deficit
81,601
6,887
3,981
1,250
497
185
129
43
29
7
Q
100,285
47, 537
60,194
42,882
34, 242
22,400
26,803
16, 735
19, 518
10, 757
94, 609
104,170
168, 449
206, 293
184, 583
Under 5 5-10
10-25
25-50
50-100
100-150
150-300
300-500
500-1,000
1,000 and over
Total 1935
1934 . .
1933_-_
1932
1931
78020—38
Number of
returns
381,353
412, 859
1,141,331
1,480,922
1, 936,878
30
STATISTICS OF INCOME
Individual returns for 1935 on Form 10 40 with no net income, showing sources of
income and deductions 1
Sources of income and deductions
Sources of income:
Salaries, wages, commissions, fees, etc.
Business profit
•
Partnership profit 2
_
Net capital gain 3
Rents and royalties.
_
_
_
Dividends on stock of domestic corporations
Income from fiduciaries 2
_
Taxable interest on partially tax-exempt Government obligations
Other taxable interest
Other income
Total income
Deductions:
Business loss
Partnership loss 2
Net capital loss 3
Interest paid 5-_.
Taxes paid s
Contributions
Other deductions
Amount
(thousands
of dollars)
71,670
25,688
9,514
20,409
51,121
53, 608
6,874
2,319
32, 985
14, 465
288, 653
116,068
35,601
21,616
67,924
48,415
4,998
375, 384
Total deductions
670,006
Deficit
381, 353
1 For general explanations, see pp. 1-4.
2 See text, p. 8.
* For explanation of changes in 1934 Act affecting net capital gain and net capital loss, see text, pp. 7-8,
and synopsis of laws, pp. 138-139.
* Interest received on 4 and AM percent Liberty bonds, United States savings bonds, and Treasury bonds,
owned in excess of $5,000, and on obligations of certain instrumentalities of the United States (see items 9
and 25, Form 1040, p. 146).
5
Excludes amounts reported in schedules A and B as business deductions.
N U M B E R OF R E T U R N S BY COUNTIES, CITIES, AND TOWNS
The statistics showing the number of individual income tax returns
for 1935 by counties, cities, and towns having a population of 1,000 and
over are issued in a separate mimeographed bulletin entitled "Individual Income Tax Returns for 1935—Number of Returns by
States, by Counties, and by Cities and Towns/ 7 which was released
in May, 1937. Copies may be secured from the Bureau of Internal
Revenue, Washington, D. C , upon request. Information on net
income and tax liability on individual income tax returns is not tabulated for smaller civil divisions than States and Territories.
PARTNERSHIP RETURNS OF INCOME
Partnership returns, except for the war excess-profits tax of 1917,
are not subject to direct assessment. The partnership net income,
whether distributed or not, or the net loss, is reported on the individual
returns of the copartners according to their shares. A partnership
return of income (Form 1065, see p. 152) is, however, required to be
filed.
31
STATISTICS OF INCOME
The number of partnership returns filed for 1917 through 1935 is as
follows:
Year:
1917
1918
1919
1920_
1921
1922
1923
1924
1925
1926
Number Year:
1927
31,701
1928
100, 728
1929
175, 898
1930
240, 767
1931
259,359
1932
287,959
1933
304,996
1934
321,158
1935
309,414
295,425
_
Number
282,841
272,127
263,519
244,670
230,407
216,712
214,881
221,740
222,293
HISTORICAL SUMMARIES (INDIVIDUAL RETURNS)
A resume of the individual income tax returns for each of the years
since the inception of the present period of income taxation, showing
number of returns, net income, and tax, by net income classes, also
sources of income and deductions, is shown in the following tables.
Summary figures for individual returns by States and Territories
for the years 1925 through 1935, showing number, net income, and
tax, are tabulated as a section of basic table 9, pages 102-126.
Individual returns for 1913 through 1935, showing number of returns, net income
tax before tax credits, tax credits, and tax 1
[Money figures in thousands of dollars]
Number of returns
Percent of total
Year
Total
Taxable
Taxable
1913
1914
19J5
1916
1917
1918
1919
1920
1921 .
1922
1923 3
1924
1925
1926
1927 1928
1929
1930
1931
1932
1933
1934
1935
_
.
.
357, 598
357, 515
336, 652
437,036
3,472, 890
4,425,114
5, 332, 760
7,259, 944
6, 662,176
6, 787,481
7, 698,321
7, 369, 788
4,171, 051
4,138, 092
4,101, 547
4,070,851
4,044,327
3, 707, 509
3, 225, 924
3,877, 430
3, 723, 558
4,094,420
4, 575, 012
362,970
2, 707,234
3, 392, 863
4, 231,181
5, 518, 310
3, 589, 985
3, 681,249
4,270,121
4,489, 698
2, 501,166
2,470,990
2,440, 941
2, 523,063
2,458,049
2, 037, 645
1, 525, 546
1,936, 095
1. 747, 740
1,795, 920
2.110, 890
Net income
Nontaxabk
74,066
765, 656
1,032, 251
1,101, 579
1, 741,634
3,072,191
3,106,232
3,428,200
2,880,090
1, 669,885
1, 667,102
1, 660, 606
1, 547, 788
1, 586, 278
1, 669,864
1, 700, 378
1, 941,335
1,975,818
2, 298, 500
2,464,122
83
78
77
79
76
54
54
55
61
60
60
59
61
61
55
47
50
47
44
46
Nontaxable
17
22
23
21
24
46
46
45
39
40
40
41
39
39
45
53
50
53
56
54
3, 900, 000
4,000, 000
4, 600,000
6, 298, 578
13, 652, 383
15,924,639
19, 859,491
23. 735, 629
19, 577, 213
21, 336, 213
24, 777, 466
25, 656,153
21,894,576
21, 958, 506
22, 545, 091
25, 226,327
24,800, 736
18,118, 635
13, 604,996
6
11,655,909
11,008,638
12, 796,802
14, 909, 812
i Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
individuals are summarized on pp. 132-139. Returns for 1913 pertain to the last 10 months of that year;
taxes shown for 1913 to 1915, inclusive, are receipts for fiscal year ended June 30, immediately following, as
shown in annual reports of Commissioner of Internal Revenue, which receipts include fines, penalties, additional assessments, etc.; tax for 1916 and subsequent years is tax liability reported on returns as explained on
page 3 of this report.
3
Revised figures. (See Statistics of Income for 1925, pp. 28-29.)
6
Revised. For nontaxable returns filed in Utah in net income class $4,000 and under $5,000, "other deductions" and "total deductions" have been decreased by and "net income" has been increased by $152,000.
32
STATISTICS OF INCOME
Individual returns for 1913 through 1985, showing number of returns, net income,
tax before tax credits, tax credits, and tax 1—Continued
[Money figures in thousands of dollars]
Tax before tax credits
Year
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923 3
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
Normal
tax
.. -
12, 729
16, 559
23,996
51, 441
156, 897
476, 433
468,105
478, 250
308,059
355,410
378, 388
257, 795
216,360
200, 599
215,817
281,895
162, 332
129, 475
82, 302
156, 606
164, 277
123, 261
152, 814
Surtax
15, 525
24, 487
43, 948
121, 946
433, 346
651, 289
801, 525
596, 804
411, 327
474, 581
464, 918
437, 541
432,853
448, 330
511,731
688, 825
582, 393
316,816
186,078
239, 232
244, 307
388,139
504, 625
Tax on
capital
net gain,
12^ percent
31,066
38,916
48, 603
117, 571
112, 510
134, 034
233, 451
284, 654
65, 422
19, 423
6,039
16, 435
Tax credits
25 percent of
tax on
earned
net income 2
Total
28, 254
41, 046
67,944
173, 387
4
795, 381
1,127, 722
1,289, 630
1, 075, 054
719, 387
861,057
882, 222
743, 939
766, 784
761, 440
861, 582
1, 204,170
1, 029, 379
511,713
287, 803
401,877
425, 019
511, 400
657,439
30, 637
24, 570
24, 647
24,915
34, 790
22, 082
24, 886
17, 491
12H percent on
capital
net loss
from sale
of assets
held
more
than 2
years
9,036
7, 659
4,322
6,028
5,126
5,378
10,112
24,185
71, 915
50, 899
Tax
Total
5 220, 555
39, 673
32, 229
28, 969
30, 943
39, 916
27,441
34, 998
41, 676
71,915
50, 899
28,254
41, 046
67, 944
173, 387
* 795, 381
1,127, 722
1, 269,630
1,075, 054
719, 387
861,057
661, 665
704, 265
734, 555
732,475
830, 639
1,164, 254
1. 001, 938
476, 715
246, 127
329, 962
374,120
511,400
657, 439
For footnote 1, see p. 31.
2 See limit of credit summary on p. 135, footnote 6 (g).
s Revised figures. (See Statistics of Income for 1925, pp. 28-29.)
* Includes war excess-profits taxes of $101,249,781 on individuals and of $103,887,984 on partnerships.
5
25 percent reduction provided by sec. 1200 (a) of Revenue Act of 1924.
Number of individual returns for 1914 through 1935, by net income classes 1
Net income classes
(Thousands of dollars)
1914
1915
1916
1917
1918
1919
1920
Under 1
1,000 and over
149, 279
127, 448
58, 603
14, 676
5,161
1,189
769
216
114
60
127,994
120, 402
60, 284
17, 301
6, 847
1,793
1,326
376
209
120
157,149
150, 553
80, 880
23,734
10,452
2,900
2,437
714
376
206
1, 640, 758
838, 707
560, 763
270, 666
112, 502
30, 391
12,439
3,302
2,347
559
315
141
1, 516, 938
1, 496, 878
932,336
319, 356
116, 569
28, 542
9,996
2,358
1,514
382
178
67
1, 924,872
1, 569, 741
1,180, 488
438,851
162,485
37,477
13, 320
2,983
1,864
425
189
65
2, 671,950
2, 569, 316
1, 337,116
455,442
171, 830
38, 548
12,093
2,191
l;063
239
123
33
Total..
357, 515
336, 652
2 429, 401
3, 472, 890
4, 425,114
5, 332, 760
7, 259, 944
1-2
2-3
3-5
5-10
10-25
25-50
50-100
. . .
100-150
150-300
300-500
500-1,000 . . .
For footnotes, see p. 33.
STATISTICS OF INCOME
33
Number of individual returns for 1914 through 1935, by net income classes 1—Contd.
Net income classes
(Thousands of dollars)
Under 1
...
1925
1926
402,076
2,471,181
2,129,898
1,190,115
391, 373
151,329
35, 478
12,000
2,171
1,323
309
161
67
368, 502
2, 523,150
2,472,641
1, 719,625
387, 842
170,095
39,832
12, 452
2,339
1,301
327
141
74
344,876
2, 413,881
2,112,993
1,800,900
437,330
191, 216
47, 061
15,816
3,065
1,876
457
242
75
98,178
1,071,992
842, 528
1, 327, 683
503, 652
236, 779
59, 721
20,958
4,759
3,223
892
479
207
119, 513
1, 045, 519
837, 792
1, 240,400
560, 549
246, 730
57,487
20, 520
4,724
3,267
892
468
231
126, 745
996,098
855, 762
1, 209, 345
567, 700
252,079
60,123
22, 573
5,261
3,873
1,141
557
290
6, 787,481
7, 698, 321
7,369, 788
4,171,051
4,138,092
4,101, 547
1928
1929
1930
1931
1932
1933
1934
111, 123
918,447
837,781
1,192, 613
628, 766
270,889
68, 048
27, 207
7,049
5, 678
1 756
983
511
126,172
903, 082
810, 347
1,172,655
658,039
271,454
63, 689
24,073
6,376
5,310
1,641
976
513
150,000
909,155
767, 684
1,070,239
550,977
198, 762
40,845
13, 645
3,111
2,071
552
318
150
185, 391
862,153
675,019
912,630
417,655
137, 754
24, 308
7,830
1,634
1,056
268
149
77
359,688
1,489, 589
967,956
703, 755
251, 014
79, 210
18, 480
5,902
995
595
140
86
20
397, 676
1, 480, 717
914,198
599, 075
229, 754
75, 643
18, 423
6,021
1 084
695
141
81
50
320,460
1, 608, 095
980, 682
762, 536
290,824
102, 892
20, 931
6,093
982
690
116
86
33
4, 070, 851
5-10
10-25
25-50
50-100._100-150
150-300
300-500
500-1,000
1,000 and over..
1924
6, 662,176
3-5
1923 3
401,849
2,440, 544
2, 222,031
1,072,146
-.
353, 247
132, 344
28, 946
8,717
1,367
739
162
63
21
.
1-2
2-3..
1922
4, 044,327
3, 707, 509
3, 225,924
3, 877, 430
3, 723, 558
4,094,420
1921
Total
Net income classes
(Thousands of dollars)
Under 1
1-2
2-3 .
3-5.
5-10
10-25
25-50
50-100
_
100-150
150-300
300-500
500-1,000
1,000 and overTotal..
Net income classes
(Thousands of dollars)
Under 1
1 2
2-3
3-5
5-10
10-25
25-50
50-100
-
1935
299,594
1, 777, 931
1,123, 699
873, 673
339,842
123 564
26,029
8,033
Net income classes
(Thousands of dollars)
100-15 )
150-30 )
300-50()
500-1,C 00
1,000 a nd over
rotal
1927
1935
1,395
896
206
109
41
4, 575,012
1
Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
individuals are summarized on pp. 132-139. The returns for 1913 are omitted, as they pertain only to the
last 10 months of that year. Data for returns of net income under $5,000 are estimated on basis of sample for
1918 through 1927 and for 1929; and partly estimated and partly tabulated 1928,1930, and subsequent years.
2
Excludes 7,635 returns of married women making separate returns from husbands. In 1916 the net
income on returns filed separately by husband and wife is combined and the total appears as one return.
In all other years the returns of married women filed separately are included in their individual income
classes independently of the husband's income.
s Revised figures. (See Statistics of Income for 1925, pp. 28-29.)
34
STATISTICS OF INCOME
Net income on individual returns for 1916 through 1935, by net income classes *
[Net income classes and money figures in thousands of dollars]
Total
1917
1918
1919
1920
1921
2,461,137
2, 064, 977
2,115, 865
1, 827, 508
1, 687,166
1, 042, 320
846,894
400,492
474, 652
209, 905
214, 631
306, 836
2,232,355
3, 626,825
3, 535, 219
2,145, 690
1, 736, 548
978, 043
679, 721
284,107
305, 025
144, 545
119,076
137, 487
2, 829,113
3, 807, 286
4, 513, 264
2, 954,137
2,412, 276
1, 277,365
896,497
358, 393
371,149
159, 071
128, 290
152, 650
4,050,067
6,184,543
5, 039,607
3, 068, 331
2,547,905
1, 307, 785
810, 386
265, 512
215,139
89, 314
79,963
77, 078
213,850
3, 620, 762
5,325,931
4,054, 891
2, 378, 759
1,958,156
979, 629
582, 230
163, 521
145, 948
61, 343
42, 780
49,411
247, 564
3, 630, 571
5,153,497
4, 500, 558
2, 641, 905
2, 255, 872
1, 208, 274
805, 224
260, 204
266,814
116, 672
107, 671
141,387
6, 298,578
Under 1
1-2 .
2-33-5
5-10 _
10-25
25-50
50-100100-150
150-300
300-500..
500-1,000 .
1,000 and over
1916
624,669
1,037, 248
1, 235, 016
822, 662
722,795
357,355
505, 859
271,938
256, 771
464, 264
Net income classes
13, 652, 383
15,924, 639
19, 859, 491
23,735, 629
19, 577, 213
21, 336, 213
Total
Net income classes
Under 1 _ _ .
1-2
2-3 .
3-5
5-10.
10-25
25-50
50-100
100-150
150-300
300-500
500-1,000
1,000 and over
Total
.
-
Net income classes
.
-
1925
1926
1927
235, 452
3, 564, 474
5,277,147
6,827, 924
2, 991,188
2,855,397
1,599,848
1, 066, 784
377, 645
374, 609
171, 249
158, 462
155,974
58,306
1, 774, 602
2, 047,970
5, 236, 003
3, 463, 852
3, 544, 898
2, 032, 239
1,418, 948
572, 860
655, 300
339, 774
327, 368
422,457
67,238
1, 747,917
2, 042, 903
4,872,789
3, 838,953
3, 660,622
1,954,653
1, 389, 339
570,190
661,412
340, 214
317,881
494,394
72, 231
1, 645, 576
2, 082, 275
4, 700,816
3,895, 759
3, 748, 058
2,051,771
1, 535, 387
636 019
787, 270
431,122
378,167
600, 641
64,535
1, 526, 832
2, 030, 901
4 648 008
4, 282, 520
4, 037,853
2, 326, 503
1,857, 878
850 451
1,157,131
663,900
670 862
1,108, 863
24, 777, 466
Under 1
1-2
2-3
3-5
5-10—
10-25 .
25-50
50-100
100-150
150-300
300-500
500-1,000
1,000 and over
1924
252, 513
3, 693, 642
6,073,444
6, 469,195
2, 653, 026
2, 538,079
1, 350, 680
833, 898
280, 656
260, 584
124, 569
95,107
152,072
Net income classes
Under 1
1-2
2-3
3-5
5-1010-25
25-50
50-100
1923>
1922
25, 656,153
21,894, 576
21,958, 506
22, 545, 091
25, 226, 327
1929
1930
1931
1932
1933
73,742
1,499, 908
1, 958, 595
4,572,596
4,481, 576
4, 025, 233
2,174,458
1, 646, 476
770, 536
1,087,410
628, 229
669,878
1, 212,099
86, 892
1,494, 526
1,864,162
4,151,967
3,723, 763
2,922, 750
1, 383,619
619,040
374,171
419,016
207,131
211, 693
359,905
106, 622
1, 399, 430
1, 641, 594
3, 515,716
2,807, C01
2,006,721
820, 648
528,049
196,598
212,059
102,186
102,311
166,060
231,140
2,145,834
2,437, 251
3 2, 597,915
1,677,039
1,160,398
629, 639
393, 206
119,896
118,008
52,469
57,874
35, 240
264, 784
2,093, 292
2, 295, £86
2,207,458
1,537,875
1,112.086
630,005
401,049
129,15;9
139, 215
54, 570
56, 700
86,857
211,113
2,277,726
2,467,851
2, 83S, 348
1, 952,891
1, 513, 592
708,530
405,976
117, 744
140, 960
43,832
59,464
57, 775
24,800,736
18,118, 635
13,604, 996
11,008, 638
12, 796,802
1935
198,900
, 534,828
2 . 831. 583
3, 249,107
2, 283, 402
1, 822,271
882, 309
535, 772
3
11,655,909
Net income classes
1()0-150
1 tf-300
300-500
5(30-1,000
1 000 and over
Total
1928
1934
1935
166,379
179,911
77,907
73, 811
73,630
14,909,812
1 Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
individuals are summarized on pp. 132-139. Data for returns of net income under $5,000 are estimated on
basis of sample for 1918 through 1927 and for 1929; and partly estimated and partly tabulated 1928,1930, and
subsequent years.
2 Revised. (See Statistics of Income for 1925, pp. 28-29.)
3 Revised. For nontaxable returns filed in Utah in net income class $4,000 and under $5,000, "other
deductions" and "total deductions" have been decreased by and "net income" has been increased by
$152,000.
35
STATISTICS OF INCOME
Tax on individual returns for 1916 through 1935, by net income classes
l
[Net income classes and money figures in thousands of dollars]
Net income classes
Under 1
1-2
2-3
3-5
5-10
10-25.
25-50
50-100..
100-150
150-300
300-500500-1,000
1919
1920
12, 423
24,007
17, 951
20,902
51,487
16,244
9,097
18,283
44,066
80, 695
76, 593
85,028
55, 766
86, 718
50,228
59, 349
109,425
26,482
35,415
82,929
93,058
142,449
130, 241
147,429
95,680
136,156
79,165
69,834
88,885
24,696
28,258
75,915
91, 538
164,833
154,946
186, 358
118, 705
163,095
86,031
76, 228
99, 027
36,860
45, 508
83,496
97,886
172, 259
154.265
163,718
86, 588
92, 604
47,043
45,641
49,185
173, 387
691,493
1,127,722
1, 269,630
1,075,054
1923 2
1924
776
6,301
11,637
11, 603
16,299
1,000 and overTotal..
1921
1918
1916
Net income classes
1917
1925
1926
1927
1922
174
29,161
20, 712
42, 744
68,871
112,910
115,712
52, 330
61,496
31,860
25,112
31.420
247
27,081
20, 730
47, 533
70,388
123, 576
125,697
144,093
71, 337
98,810
43,488
38, 559
49, 518
719, 387
861,057
1928
1929
1,000 and over.
317
18,253
16,606
46,048
54, 075
103,109
103, 601
108, 879
55, 719
62,104
31, 669
25,498
35, 788
146
10,432
10, 207
26,865
28, 828
78,069
109, 360
136, 636
75, 678
92,481
45, 771
42, 585
47, 207
69
1,704
3,809
8,326
19,149
74,172
120, 689
147, 843
79,478
103,059
55, 722
53, 674
66, 867
56
1,761
4,217
7,245
20, 272
72,465
112, 797
140, 947
77,900
103, 997
55, 256
53,665
81,893
40
1,234
3,970
6,508
20, 665
74,226
119, 475
156, 675
87, 398
123, 776
73, 750
64, 265
98, 657
1,550
4,317
7,475
22, 896
82, 758
136, 568
194, 447
116, 855
182, 514
113, 250
116, 424
185,140
17
553
1,404
2,413
9,551
59,893
113, 904
160,814
99, 560
159, 221
97, 336
106, 219
191,054
Total. _.
661, 666
704, 265
734, 555
732, 471
830, 639
1,164, 254
1,001,938
Under 1
1-2
2-3...
3-5
5-1010-25
25-50....
50-100
100-150
150-300.
300-500
500-1,000
Net income classes
1930
1931
1932
1933
1-2
2-3
3-5
5-10
10-25...
25-50.
50-100
100-150
150-300
300-500
500-1,000
1,000 and over.
37
1,269
3,310
5,352
17, 448
49, 561
72, 708
87,379
48, 749
62, 463
33,053
34,289
61,098
24
943
2,466
3,832
12,407
31, 897
40,096
44, 780
23,135
28, 793
15,411
15,457
26, 886
103
12, 254
9,822
20, 895
35,615
50,150
43, 546
47,150
24, 469
31,912
18, 554
19, 016
16,476
10,345
7,710
18, 397
35, 077
54,977
52, 355
57,491
30, 369
40, 412
17, 910
21, 221
27, 759
Total. ~
476. 715
246.127
Under 1
OOQ Q
97
374,120
1934
1935
111
8,659
7, 567
18, 349
43, 086
83,960
84, 907
84, 792
38,166
57,995
20,854
30, 745
32,211
125
10,058
9,311
20, 738
48, 728
103, 754
106, 670
112,816
54,132
74,039
511, 400
37, 245
38, 323
41,499
657,439
1 Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
individuals are summarized on pp. 132-139. Data for returns of net income under $5,000 are estimated on
basis of sample for 1918 through 1927 and for 1929; and partly estimated and partly tabulated 1928,1930, and
subsequent years.
2 Eevised figures. (See Statistics of Income for 1925, pp. 28-29.)
36
STATISTICS OF INCOME
Effective tax rate, individual returns for 1916 through 1935 by net income
1916
Net income classes
1917
1918
1919
(Thousands of dollars)
Under 1
1-2
. .
2-3
3-5 .
5-10
_ .
. .
10-25
25-50 .
50-100
100-150
150-300
300-500
500-1,000
1,000 and over _ .
.
All returns
Net income classes
Under 1
All returns
1,000 and over
All returns
1923
1924
0.12
.61
.94
1.41
2.25
3.48
4.75
6.60
8.14
11.09
1.19
.98
2.35
4.34
8.20
13.32
21.69
33.68
44.64
54.77
58.65
64.65
0.87
.74
1.68
3.10
6.83
12.13
20.79
33.12
43.94
54.08
59.42
64.87
0.91
.74
1.66
3.19
6.76
11.80
20.20
32.61
43.04
52.67
57.08
63.81
0.08
.81
.39
1.05
2.90
6.48
11.53
19.87
32.00
42.14
51.94
58.70
63.59
0.10
.75
.40
1.06
2.66
5.48
10.40
17.89
27.42
37.03
37. 27
35.81
35.02
0.13
.49
.27
.71
2.04
4.06
7.67
13.06
19.85
23.83
25.42
26.81
23.53
0.06
.29
.19
.39
.96
2.73
6.84
12.81
20.04
24.69
26.73
26.87
30.27
2.75
5.06
7.08
6.39
4.53
3.67
4.04
2.67
2.74
1925
1926
1927
1928
1929
1930
1931
1932
1933
Percent
0.12
. 10
.19
.16
.55
2 09
5.94
10.42
13.87
15.73
16.40
16.39
15.83
0.08
.10
.21
.15
.52
1.98
5.77
10.14
13.66
15.72
16.24
16.88
16.56
0.06
.07
.19
.14
• .53
1.98
5.82
10.20
13.74
15.72
17.11
16. 99
16.42
0.09
.10
.21
.16
.53
2.05
5.87
10.47
13.74
15.77
17.06
17.35
16.70
0.02
.04
.07
.05
.21
1.49
5.24
9.77
12.92
14. 64
15.49
15.86
15.76
0.04
.08
.18
.13
.47
1.70
5.25
9.51
13.03
14.91
15.96
16.20
16.98
0.02
.07
.15
.11
.44
1.59
4.89
8.48
11.77
13.58
15.08
15.11
16.19
0.04
.57
.40
.80
2.12
4.32
6.92
11.99
20.41
27.04
35.36
32.86
46.75
0.04
.49
.34
.83
2.28
4.94
8.31
14.34
23.51
29.03
32.82
37. 43
31.96
3.35
3.33
3.68
4.62
4.04
2.63
1.81
2.83
3.40
(Thousands of dollars)
Under 1
1922
0.66
.44
.86
2.41
4.78
7.34
10.04
13.92
18.27
23.93
27.63
35.65
Net income classes
1-2
2-3
3-5
. _
5-10
10-25
25-50
50-100
100-150
150-300
300-500
500-1,000
1921
Percent
(Thousands of dollars)
1-2
2-3
3-5
5-10—
10-25
25-50
50-100
100-150
150-300
300-500
500-1,000
1,000 and over
1920
1934
1935
Percent
0.05
.38
.31
.65
2.21
5.55
11.98
20.89
32.41
41.14
47.58
51 70
55.75
0 06
.40
.33
.64
2.13
5.69
12.09
21.06
32.54
41.15
47.81
51.92
56. 36
4.00
4.41
i Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
individuals are summarized on pp. 132-139. Data for returns of net income under $5,000 are estimated, based
on sample for years 1918 through 1927 and for 1929; and partly estimated and partly tabulated 1928, 1930,
and subsequent years.
37
STATISTICS OF INCOME
Sources of income and deductions, individual returns for 1916 through 1935
[Thousands of dollars]
Distribution
Income:
Salaries, wages, 3 commissions, fees, etc
Business 5 6
Partnership
Profit from sale of real
estate, stocks, bonds,
etc., other than taxed
as capital net gain from
sale of assets held more
than 2 years
Capital net gain from sale
of assets held more than
2 vears 8
Rents and royalties
.
Dividends on stock of
domestic corporations 10_
n
Income from fiduciaries _
Taxable interest on partially tax-exempt Government obligations 14-_.
Interest16 and other income
Total income
Deductions:
Net loss from sale of real
estate, stocks, bonds,
etc., other than reported
for tax credit on capital
net loss from sale of
assets held more than 2
years
_
Net loss from business
Net loss from partnership_
Interest paid
Taxes paid
Contributions
Other deductions _ _
1916
1917 2
1918
1, 851, 277
2, 637,475
(7)
3, 648, 438
2, 865,413
775,087
8, 267,392
3,124, 355
1, 214, 914
318,171
291,186
999, 364
1,020, 543
462, 859
(7)
643, 803
(9)
684,313
(9)
975, 680
(9)
1,019,094
(9)
1,047, 424
(9)
1,177,958
2,136,469
379,795
2, 848, 842
2, 468, 749
2, 453, 775
2, 735, 846
2, 476, 952
(7)
(12)
936, 715
12,077,009
1, 403, 486
17,745,761
(17)
(17)
(15)
8, 349,902
(17)
} 07)
} (17)
(13)
1921
13, 813,169
2,366, 319
1, 341,186
(13)
(13)
(12)
1920
10, 755, 693 U5,322,873
3, 877, 550 * 3, 215, 555
1, 831, 430 * 1, 706,229
(13)
(12)
701,084
1919
63, 377
07)
61, 550
46,994
1, 437, 402
i 1, 580, 250
1, 643, 344
22,437, 686
26,690,270
23,328, 782
(17)
(")
(17)
(17)
(17)
(17)
( 17 )
(17)
(")
<17)
(17)
(17)
(17)
00
2, 051, 324
245,080
640, 683
1, 821,122
2, 578,194
387, 290
2, 567, 351
Total deductions
2, 051, 324
885, 763
1, 821,122
2, 578,194
2,954, 641
3, 751, 569
Net income
6, 298, 578
11,191, 246
15, 924, 639
19, 859, 491
23, 735, 629
19, 577, 213
1923 is
1924
1925
1926
14,195,356
4, 722, 766
1, 676,409
13, 617, 663
4, 755,483
1, 810,014
9, 742,160
3, 688, 804
1, 827,025
9,994,315
3, 572, 895
1, 732, 581
10, 218,450
3, 287, 421
1, 755,145
863,107
1,124, 566
1,991, 659
1, 465, 625
1,813,396
305,394
1,814,126
389,148
2, 009, 716
940, 569
1, 471, 332
912, 917
1, 450, 760
1,081,186
1,302,276
3,119, 829
329,124
3, 250, 914
310,144
3, 464, 625
305, 806
4,011, 590
333, 365
4, 254, 829
421, 481
36, 782
1, 936, 604 /
I
47,479
1,675,916
350,981
Distribution
(17)
1922
Income:
Salaries, wages, 3commissions, fees, etc.
13, 693,993
Business 5
2,839, 771
1,427,127
Partnerships
Profit from sale of real estate, stocks, bonds, etc.,
other than taxed as
capital net gain from
sale of assets held more
742,104
than 2 years
Capital net gain from sale
of assets held more than
249, 248
2 years 8
.
1, 224, 929
Rents and royalties
Dividends on stock of
domestic corporations 10_ 2, 664, 219
257, 928
Income from fiduciaries u Taxable interest on partially tax-exempt Gov33, 989
ernment obligations 14._.
Other taxable 16
interest
} 1,738,601
Other income
Total income..
For footnotes, see p. 42.
24, 871, 908
( 17 )
43, 711
29, 645
25, 651
2,177, 771
2, 281, 703
1, 814, 402
29, 247, 593
29, 578, 997
25, 272,035
25, 447, 436
3, 751, 569
1927
26, 208, 561
38
STATISTICS OF INCOME
Sources of income and deductions, individual returns for 1916 through 1935 1—Con.
[Thousands of dollars]
Distribution
Deductions:
Net loss from sale of real
estate, stocks, bonds,
etc., other than reported for tax credit
on capital net loss
from sale of assets
held more than 2
years.
Net loss from business. _
Net loss from partnership. __
Interest paid
Taxes paid
Contributions
Other deductions
Total deductions
Net income..
Distribution
1922
07)
Total income
Total deductions
Net income
For footnotes, see p. 42.
1924
1925
(17)
1926
178, 216
1927
227,879
00
f 07)
425, 218
3,110, 478
00
534, 797
3, 935, 330
00
533,168
3, 389, 675
441, 590
2,935,868
(17)
484, 205
2,826, 509
00
507, 705
2,927,886
3, 535, 696
4, 470,127
3, 922,843
3, 377,458
3,488, 930
3, 663, 470
21,336, 213
24,777,466
25, 656,153
21, 894, 576
21,958, 506
22, 545, 091
1928
1929 20
1930
1931
11,173, 068
3, 327, 989
1, 846, 431
9, 921, 952
2, 628, 057
1, 089, 646
8,325,162
1, 889, 759
729, 523
8,136, 717
1, 294,952
482, 863
7, 390, 356
1,402, 923
603, 725
2, 335, 898
636, 738
301, 664
112,814
419, 591
2,346, 704
1, 278, 757
556,392
974, 325
169, 949
770, 764
50, 074
529,989
133,616
447, 883
4, 783, 240
4,197, 304
3,113,861
1, 972,133
1, 559, 046
508, 221
429, 459
369,140
310, 949
276,067
40,184
1, 908, 030
296, 235
38,134
1, 608,434
332,004
25, 325
1, 337, 606
235, 696
29,188
1,141, 799
330, 602
31, 689
961, 732
167,197
28, 987, 634
29, 844, 758
22,412,446
17, 268,451
14,392,080
13, 393, 825
171, 743
994, 665
1, 232, 776
1,160, 765
375,445
365, 782
172, 538
134, 685
112, 659 /
1
f
I
304, 009
i« 1,944, 057
61,985
30,435
507,520
506,258
252, 251
660,956
Income:
Salaries, wages, commissions, fees, etc.3
10, 862, 331
Business 5 6
3, 243, 955
Partnership
1, 929, 520
Profit from sale of real
estate, stocks, bonds,
etc., other than taxed
as capital net gain
from sale of assets
held more than 2
years
_. _
2, 928,142
Capital net gain from
sale of assets held
more than 2 years 8__ 1,879, 780
Rents and royalties
1,164, 518
Dividends on stock of
domestic corporations 10
4, 350,979
Income from fiduciaries n
443, 998
Taxable interest on
partially tax-exempt
Government obligations 14
40, 553
Other taxable interest.. 1, 841, 818
Other income i6
302, 040
Deductions:
Net loss from sale of
real estate, stocks,
bonds, etc., other
than reported for tax
credit on capital net
loss from sale of assets
held more than 2
years
Net loss from business..
Net loss from partnership
Interest paid
Taxes paid...
Contributions
0 ther deductions
1923 "
(17)
532,886
3,056, 679
527, 093
3, 522, 265
(17)
424, 771
2, 463, 726
00
328, 300
2,039, 705
1932
1933
3, 761, 308
5, 044, 023
4, 293, 811
3, 663,455
19 2, 736,171
2, 385,187
25, 226, 327
24, 800, 736
18,118, 635
13, 604, 996
i9ll,655,909
11, 008, 638
39
STATISTICS OF INCOME
1
Sources of income and deductions, individual returns for 1916 through 19S6 —Con.
[Thousands of dollars]
Distribution
1934
Income:
Salaries, wages, commissions, fees, etc.3
Business profit 5 6
Partnership profit
_
_
Net capital gain 21
Rents and royalties
. . _ . . ._
10
Dividends on stock of domestic corporations
Income from fiduciaries n
Taxable interest on partially tax-exempt Government obligations
Other taxable 16
interest .
Other income
__
Total income
Deductions:
Business loss
. ..
Partnership loss
Net capital loss 2I Interest paid
. ___
___
Taxes paid
Contributions
__
Other deductions.__
__
1935
Total deductions
N e t income
67,453
23,876
145, 728
503, 730
596, 559
305,155
764,191
2, 296,158
12, 796,802
________
__
9,900,578
1,855,019
739,822
509,714
572,060
2,234,727
328,978
43,820
900,501
231, 286
17, 316, 505
63,885
29,004
183, 762
517, 217
541,191
272,822
688, 277
._
14
8,600,455
1, 716,842
631,915
211, 319
509,844
1,965,670
288,730
38,044
909, 231
220,910
15, 092,960
14,909,812
2, 406, 693
Sources of income and deductions, individual returns forl 1916 through 1985 with
net income of $5,000 and over
[Money figures in thousands of dol are]
Distribution
Number of returns
_
Income:
Salaries, wages, 3 commissions, fees, etc
Business 5 6
Partnership
Profit from sale of real
estate, stocks, bonds,
etc., other than taxed
as capital net gain from
sale of assets held more
than 2 years
Capital net gain from
sale of assets held more
than 2 years 8__
Rents and royalties
Dividends on stock of
domestic corporations 10_
Income from fiduciaries n_
Taxable interest on partially tax-exempt Government obligations 14___
Interest16 and other income
Total income
Deductions:
Net loss from sale of real
estate, stocks, bonds,
etc., other than reported for tax credit
on capital net loss from
sale of assets held more
than 2 years
Net loss from business
Net loss from partnership.
Interest paid
Taxes paid
Contributions
Other deductions
Total deductions
Net income
For footnotes, see p. 42.
1916
1917
1918
1919
1920
272, 252
432, 662
478, 962
657, 659
681, 562
525, 606
1, 398, 329
2, 386,905
(7)
1, 794, 790
1,062, 772
581, 708
2,103,819
1,148, 297
913,853
2,948, 006
1, 743,800
1,426, 072
3, 367, 516
1, 398,069
1, 261,899
2,831,520
816, 040
903, 571
217,929
187,406
677, 284
623,993
254,456
22
0)
(7)
(9)
(9)
(9)
(9)
1921
(9)
516, 742
340,868
386,474
445, 701
451, 878
420, 932
2, 098,428
365, 326
2, 648,155
2,133, 209
2,128, 291
2, 363,880
1, 915,138
(15)
(12)
(13)
(12)
(12)
627,943
822, 480
799,186
7, 393, 672
7, 468, 702
7,672, 243
(17)
(17)
(17)
(17)
(17)
7
0)
1,719,764
(17)
07)
(17)
(17)
(17)
186,907
271, 391
(17)
0?
(17)
(13)
(13)
62, 571
60, 432
40, 281
876, 687
10, 308, 411
847, 894
732, 697
10, 375, 561
7, 914, 635
(17)
(17)
(17)
(17)
(17)
(17)
1,142,003
(13)
1, 598, 583
(17)
(17)
(17)
r
07)
0)
(23)
1,914,150
(17)
(17)
7
0)
(17)
(17)
1, 552,857
1, 719, 764
458, 297
1,142,003
1, 598, 583
1, 914,150
1, 552,857
5, 673,909
7, 010,404
6, 530, 241
8, 709,828
8,461,412
6, 361, 778
40
STATISTICS OF INCOME
Sources of income and deductions, individual returns for 1916 through 1985 with
net income of $5,000 and over 1—Continued
[Money figures in thousands of dollars]
Distribution
1922
N u m b e r of returns
594, 211
Income:
Salaries, wages, 3 commissions, fees, etc
Business 5
Partnership«
Profit from sale of real
estate, stocks, bonds,
etc., other than taxes as
capital net gain from
sale of assets held more
than 2 years
Capital net gain from sale
of assets held more than
2 years 8
Rents and royalties
Dividends on stock of
domestic corporations 10.
Income from fiduciaries n .
Taxable interest on partially tax-exempt Government obligations 14__
Other taxable 16
interest
Other income
625, 897
2,933, 454
1,012,440
918,183
3,114,006
1, 057, 731
921,851
1924
1925
1926
697,138
830,670
894,868
3,490,916 4,033, 811 4,363,395
1, 290, 722 1, 623, 638 1, 738, 523
1,112, 710 1,422, 799 1, 329, 786
1927
913, 597
4, 524, 276
1, 704,175
1, 354, 422
490, 794
458,184
770,026
1,723,438
1, 224, 278
1, 511, 859
249, 248
482,189
305,394
497,624
389,148
570, 427
940, 569
679, 569
912, 918
689, 981
1, 081,186
644,302
2,173,499
197,189
2,435,137
233, 982
2, 617, 871
206, 972
3,045,368
248,163
3, 581,362
273, 252
3, 761,910
329,351
30, 962
850,935
30,465
864, 514
29, 645
£32, 324
25,651
1,084,120
36,782
1, 217, 681
47, 479
1,115, 925
185,099
9, 338, 893
Total income
Deductions:
Net loss from sale of real
estate, stocks, bonds,
etc., other than reported
for tax credit on capital
net loss from sale of assets held more than 2
years
Net loss from business
Net loss from partnership.
Interest paid
Taxes paid
Contributions, _
Other deductions
9,918,886
11,410,761
14, 827,127 15, 367, 957
16, 259, 984
07)
00
07)
(17)
122, 409
(17)
(17)
136, 482
07)
440,974
353,188
1,265,148
_
Distribution
Number of returns.
Income:
Salaries, wages, 3commissions, fees, etc.
Business 5 6
Partnership
Profit from sale of real estate, stocks, bonds, etc.,
other than taxed as capital net gain from sale
of assets held more than
2 years
Capital net gain from sale
of assets8 held more than
2 years
Rents and royalties
Dividends on stock of 10
domestic corporations
Income from fiduciaries n .
Taxable interest on partially tax-exempt Government obligations 14._.
Other taxable interest
Other income i«
Total income
For footnotes, see p. 42.
238, 378
1, 391, 835
254,072
1, 405, 532
293,401
1,756,030
326, 511
1,691, 377
1, 534,871
Total deductions
Net income..
1923
1, 630, 214
1, 659, 605
2, 049, 431
2,140, 298
2,195, 792
7, 804, 022
8, 288, 672
9, 751,156 12, 777, 696 13,227,659
14,064,193
211,863
1,323,007
1928
1929
1930
1931
1932
1933
590,731
356, 442
331,892
1,010, 887
1,032,071
810,431
5,008, 286
1, 772,255
1, 583,322
5,179,041
1, 836,329
1,497, 922
4,407, 606
1, 215,452
786, 931
3,320,028
766,730
492,147
2,057, 254
354,488
284, 624
1,838, 646
393, 815
401,931
2,700, 557
2,044,058
527, 653
196, 574
71, 643
308, 711
1, 879, 780
637,371
2, 346, 704
649,124
556, 392
479, 401
169,949
306, 336
50,074
160, 244
133, 616
124,144
4,009, 915
364, 889
4, 247,031
422,076
3, 708, 656
338,400
2, 583, 674
280,627
1, 540, 625
217,610
1,199,867
182,735
40, 553
1, 230,178
1S6, 111
40,184
1, 257, 590
190,110
38,134
1,018.001
130,191
25,325
749,345
120,845
29,188
536, 541
67,353
31, 689
422, 731
69, 656
9,011,581
5, 369, 646
5,107, 539
19,423, 216 19,710,168
13, 206, 817
41
STATISTICS OF INCOME
Sources of income and deductions, individual returns for 1916 through 1935 with
net income of $5,000 and over 1—Continued
[Money figures in thousands of dollars]
Distribution
Deductions:
Net loss from sale of real
estate, stocks, bonds,
etc., other than reported
for tax credit on capital
net loss from sale of assets held more than 2
years
Net loss from business
Net loss from partnership.
Interest paid
Taxes paid
C ontributions
Other deductions
Total deductions
Net income
1928
1929
1930
1931
129, 865
632,693
947,121
886,187
479,100
384,458
631, 836
105, 219
574, 630
407, 996
286, 218
364, 544
813, 503
72,125
373, 603
294,165
202, 979
313,573
00
866,053
475, 422
390, 923
604, 987
Total income
46, 972
250, 844
230, 543
139, 846
283, 046
152, 959
26, 792
15, 597
208, 311
200,078
111,219
245, 065
2, 467, 255
3,014, 274
2, 685, 728
2, 069, 948
1, 125, 878
i0,022
16, 695, 895
10, 521,088
6, 941, 633
4, 243, 768
4,147, 517
1934
422, 647
3
Salaries, wages,5 commissions, fees, etc.
Business profit 6
Partnership profit
Net capital gain 21
Rents and royalties
Dividends on stock of domestic corporations 10
Income from fiduciaries n
Taxable interest on partially tax-exempt Government obligations 1
Other taxable interest
Other income l6
Deductions:
Business loss
Partnership loss...
Net capital loss 21.
Interest paid
Taxes paid
Contributions.
Other deductions..
174, 627
16, 955, 961
Distribution
Number of returns_
Income:
1933
1935
500,115
2, 300, 256
568, 689
438, 066
160, 218
165, 786
1, 585, 042
203, 854
38, 044
453, 480
99, 226
2,708,879
687,467
531,620
399, 918
198, 210
1, 814,184
232, 324
43, 820
448,022
123, 234
6,012,662
7,187, 678
29, 753
15, 178
90, 968
231, 267
232, 490
129, 650
282, 591
33, 713
13,113
68, 981
240, 731
267, 571
148,180'
319, 99a
Total deductions
1,011,898
1,092,283
Net income..
5,000, 764
~6,095,394
For footnotes, see p. 42.
42
STATISTICS OF INCOME
1
Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
individuals are summarized on pp. 132-139. The income items for 1916 are "Gross income," the deductions
not having been allocated to the various sources but included in aggregate under "Deductions." Beginning 1917, the income items are "net income," the deductions allocable to the various sources of income
being applied against the gross income from the specific sources as reported on the schedules in the income
tax returns. When net losses are shown on the schedules, such net losses are transferred in tabulation to
"Deductions" which also include the other unallocated items shown on the return under "Deductions."
Data for returns of net income under $5,000 are estimated on basis of sample for years 1918 through 1927
and for 1929; and partly estimated and partly tabulated 1928, 1930, and subsequent years.
2
Excludes data for 1,640,758 returns with net income under $2,000 and aggregate net income of $2,461,137,000.
3 Excludes beginning 1924 wages and salaries of the individual, his wife, or dependent minors derived from
the business conducted by the individual. Prior to 1924 such wages and salaries were reported as income
under "Wages and salaries." Prior to 1927 includes taxpayer's earned income from a partnership. Includes "Professions and vocations" in 1916.
4 Revised. For taxable returns filed in Alabama with net income under $5,000 the revised figures are:
Salaries, wages, etc., $101,825,123; Business, $22,051,392; Partnership, $15,640,817; and Interest and other
income, $7,973,290.
» Includes partnership income and profit from sale of all stocks, bonds, etc., for 1916. See also note 3.
6 Certain income from partnership is included in other sources (see notes 8, 10, and 14). Beginning 1934
amount includes net capital gain or loss from sale of capital assets by partnerships (see note 21). In 1918
to 1921, inclusive, the amount includes income from fiduciaries, and income from personal service corporations as defined in the Revenue Acts of 1918 and 1921 (except certain amounts included in other sources,
see notes 10 and 14). The amount for partnerships in 1916 was tabulated with business.
' All profit from sale of real estate, stocks, bonds, etc., and income from partnership included in business
for8 1916.
Capital net gajn received by individuals direct or through partnerships or fiduciaries was taxed at
special rate, 1922 to 1933, inclusive. See notes 7, 9, and 21.
9 Included in "Profit from sale of real estate, etc."
i° Includes dividends received by individuals direct and through partnerships or fiduciaries; also dividends
received through personal service corporations, 1918 to 1921, inclusive; and stock dividends, 1916 to 1919,
inclusive.
" Certain income from fiduciaries is included in other sources (see notes 8, 10, and 14). Beginning 1934,
amount includes net capital gain or loss from sale of capital assets for estate or trust (see note 21). In 1917
income from fiduciaries is included in "Interest and other income"; in 1918 to 1921, inclusive, in "Partnerships."
i-' Included in "Interest and other income."
13 Included in "Partnership."
" Includes interest on such obligations held by individuals, or such interest received through partnerships and fiduciaries; also such interest through personal service corporations, 1919 to 1921, inclusive. In
1917 and 1918 amount included in "Interest and other income."
" Such obligations were issued after September 1, 1917.
™ Includes for all years, dividends of foreign corporations and income from all sources not reported elsewhere.
*7 Included in "Other deductions."
18
Revised figures. (See Statistics of Income for 1925, pp. 28-29.)
is Revised. For nontaxable return filed in Utah in net income class $4,000 and under $5,000, "other deductions" and "total deductions" have been decreased by and "net income" has been increased by $152,000.
20 Revised figures for returns with net income under $5,000. (See Statistics of Income for 1934, Part 1,
p. 21 footnote 18.)
31,
Net capital gain or loss on sale of capital assets (regardless of time held) by individuals, after certain
limitations are applied (see section 117, Revenue Act of 1934). Excludes net capital gain or loss on sale of
capital assets by partnership or fiduciaries, which amounts beginning 1934, are included with other income
(or loss) from partnerships or other income from fiduciary (see notes 5 and 10).
M Exclusive of returns of married women making separate returns from husbands.
•'Contributions for 1920 not available for returns with net income of $5,000 and over.
STATISTICS OF INCOME
43
ESTATE TAX RETURNS
The estate tax is imposed upon the transfer of the net estate in its
entirety and not upon any particular legacy, devise, or distributive
share. The relationship of the beneficiary to the decedent has no
bearing upon the tax liability.
Estate tax returns were filed during the calendar year 1936 under
the provisions of the Revenue Act of 1924 or prior acts, the Revenue
Act of 1926, and the combined provisions of the Revenue Acts of
1926 and 1932, 1926 and 1934, and 1926 and 1935. A synopsis of
estate tax rates, specific exemption, and credits against tax under
the Revenue Acts of 1916 to 1935, inclusive, is presented on pages
140-141.
An estate tax return is required under these revenue acts in the
case of every citizen, regardless of place of residence, or resident
(only in case of every resident if the decedent died prior to May 11,
1934, the effective date of the Revenue Act of 1934), whose gross
estate, as defined in the statutes, exceeds the specific exemption
allowed. The specific exemption is $50,000 under the Revenue Act
of 1924 and prior acts, $100,000 under the Revenue Act of 1926,
$50,000 for the purpose of the additional estate tax under the Revenue
Acts of 1932 and 1934, and $40,000 for the purpose of the additional
estate tax under the Revenue Act of 1935. A return is required in
the case of every nonresident alien (or every nonresident citizen and
alien if the decedent died prior to May 11, 1934, the effective date of
the Revenue Act of 1934) any part of whose estate, regardless of value,
was situated at date of death in the United States, within the meaning
of the statute.
Prior to the effective date of the Revenue Act of 1935 (August 31,
1935) returns were required to be filed within 1 year after date of
death, while under the Revenue Act of 1935 returns are required to
be filed within 15 months after date of death. Under certain conditions further extensions of time are granted for filing. In determining the value of the gross estate under the 1935 Act the executor
may elect either the date of the decedent's death or the date one year
after the decedent's death, or in the case of property distributed,
sold, exchanged, or otherwise disposed of during the year following
death, as of the date of the distribution, sale, exchange, or other disposition. Under former revenue acts the value of the gross estate
was determined as of the date of death.
The gross estate as defined by law includes certain transfers, such
as those made in contemplation of death or intended to take effect at
or after death. The net estate is the amount of the gross estate less
(1) the sum of the authorized deductions, and (2) the specific exemption allowed in the case of citizen or resident decedents (prior to the
enactment of the Revenue Act of 1934, exemption allowed for resident
decedents only).
Returns for estates of decedents who died prior to 10:25 a. m., February 26, 1926, are filed under revenue acts passed prior to that date and
returns for estates of decedents who died during the period 10:25 a. m.,
February 26, 1926, through 4:59 p. m., June 6, 1932, are filed under
the Revenue Act of 1926. Estates of decedents who died subsequent
to the effective date of the Revenue Act of 1932 (5 p. m., June 6, 1932)
are subject to two estate taxes, the tax levied under the provisions of
the Revenue Act of 1926 and an additional estate tax imposed by the
44
STATISTICS OF INCOME
Revenue Act of 1932, or by that Act as amended by the Revenue
Acts of 1934 and 1935. The tax under the Revenue Act of 1926
applies to net estates after deduction of a specific exemption of
$100,000 and tax credits are allowed for estate, inheritance, legacy,
or succession taxes paid to any State, Territory, or the District
of Columbia not to exceed 80 percent of the Federal estate tax, and
for gift taxes paid to the Federal Government. The additional estate
tax applies to net estates after deduction of a specific exemption of
$50,000 under the 1932 and 1934 Revenue Acts, and $40,000 under
the 1935 Act, and is equal to the excess of (1) the amount of a tentative
tax computed at the rates specified in the act which is in effect over (2)
the amount of the tax computed at rates in the Revenue Act of 1925
before deduction of the tax credits provided. The rates of the tentative tax under the Revenue Act of 1932 were graduated from 1 percent
upon net estates not in excess of $10,000 to 45 percent upon the
amount in excess of $10,000,000. ^ Under the Revenue Acts of 1934
and 1935 the rates of the tentative tax were increased, reaching a
maximum rate under the 1935 Act of 70 percent on the amount of net
estate in excess of $50,000,000.
The Revenue Act of 1924 allows a tax credit not to exceed 25 percent of the Federal estate tax (after deduction of any credit for gift
tax imposed by the Revenue Act of 1924) for estate, inheritance,
legacy, or succession taxes paid to any State, Territory, or the District
of Columbia, in respect of any property included in the gross estate.
Prior to the Revenue Act of 1924 this tax credit was not allowed.
Under the Revenue Act of 1926, this tax credit is increased to an
amount not to exceed 80 percent of the Federal estate tax. No credit
for estate, inheritance, legacy, or succession taxes is allowable against
the additional estate tax imposed by the Revenue Act of 1932, or by
that Act as amended. Credit for gift tax imposed by the provisions of
the Revenue Act of 1924 is allowable against estate tax payable under
the Revenue Act of 1924 or the Revenue Act of 1926 with respect
to so much of the property which constituted a gift as is included in the
decedent's gross estate. For decedents who died subsequent to the
effective date of the Revenue Act of 1932, a tax credit for gift taxes
paid to the Federal Government is allowed both against the tax computed under the Revenue Act of 1926 and against the additional tax
computed under the Revenue Act of 1932, 1934, or 1935.
The tables are based on the returns as filed and prior to any adjustments that may be determined upon investigation and audit. The
tax liability reported does not correspond with the actual receipts of
STATISTICS OF INCOME
45
taxes during the period for the reason that payments may be made
at a later date than the filing of the return, and for the reason that
field investigation and office audit may disclose deficiency taxes or
excess payments which are not reflected in these tables.
Data included in these tables are compiled from returns filed during
the calendar year 1936, irrespective of the date of death of the decedent, under revenue acts passed prior to 1926, the Revenue Act of
1926 only, and the combined provisions of the Revenue Acts of 1926
and 1932, 1926 and 1934, or 1926 and 1935. In order to maintain
comparability with the method of tabulation for preceding years, the
data for taxable returns of decedents who died after the effective date
of the Revenue Act of 1926 are classified by net estate classes which
correspond to the successive tax brackets specified in the Revenue Act
of 1926 on the basis of the net estate under the provisions of that act
rather than the provisions of the 1932, 1934, or 1935 acts.
The total number of estate tax returns filed during the calendar
year 1936 is 13,321, and the total tax liability is $196,370,000 (see
table 9, p. 64). The number of returns for citizens or residents is
11,605, of which 9.137 are taxable returns and 2,468 are nontaxable
returns. The tax liability on the 9,137 taxable returns is $195,301,000.
As compared with returns filed during the previous year, the number
of taxable returns for citizens or residents increased by 482, or 5.6
percent, and the tax liability on such returns increased $41,538,000,
or 27.0 percent.
In table 1, which is in the nature of a summary statement, the
taxable and nontaxable returns for citizens or residents are classified
according to the various revenue acts under which the returns were
filed, and the number of returns, gross estate, deductions, net estate,
and tax liability are shown for each group of returns.
In tables 2 through 7, the data for the taxable returns in table 1
are presented in more detail. Tables 2, 3, and 4 include the items of
gross estate and deductions and tables 5, 6, and 7 include the items
of net estate and tax liability. The taxable returns for resident decedents who died prior to May 11, 1934, are presented in tables 2 and 5,
the taxable returns for citizen or resident decedents who died during
the period May 11, 1934, through August 30, 1935, are presented in
tables 3 and 6, and the taxable returns for citizen or resident decedents who died on or after August 31, 1935, are presented in tables 4
and 7.
Table 8 presents a distribution by States of the returns of citizen
or resident decedents and table 9 is a historical summary of all estate
tax returns filed.
78020
46
STATISTICS OF INCOME
TABLE
- Estate tax returns of resident decedents who died before May 11} 1934,
nontaxable returns, showing number of returns^ gross
1.-
[Moneyfiguresin
[Returnsfiledduring
Total
All returns
(1)
Number of returns..
Gross estate:9
Heal estate
Investments in bonds and stocks:
Federal Government bonds:
Wholly tax-exempt1010
Partially tax-exempt
State and municipal bonds, wholly tax-exempt.
All other bonds.
—
Total bonds
Capital stock in corporations
Total bonds and stocks..
Mortgages, notes, cash, etc
Insurance (gross)ll
Miscellaneous 12
Total gross estate..
Deductions:
Insurance exemption
Funeral and administrative expenses__
Debts, unpaid mortgages, etc
Charitable, public,13 similar bequests
and
Specific exemption
Property from an estate taxed 8
within 5 years: Value at date of
previous or present decedent s death, whichever is lower
20
Total deductions..
Net estate: **
To
To
To
To
Tax:
which 1924
which 1926
which 1932
which 1935
Under
Under
Under
Under
or prior rates apply ($50,000 exemption)
rates apply ($100,000 exemption)
or 1934 rates apply ($50,000 exemption)
rates apply ($40,000 exemption)
Act of 1924 or prior Acts.
Act of 1926
Acts of 1932 or 1934
Act of 1935...
Total tax liability on all returns filed in 1936..
For footnotes, see p. 48.
Nontaxable
returns
Taxable
returns
(2)
(3)
(4)
11, 605
2,468
9,137
353,106
67, 644
285,462
47, 847
67, 353
138, 953
184,713
438, 867
923, 300
1, 362,167
313, 839
129,819
137, 326
543
3, 090
2,949
9,534
16, 717
58, 301
75,018
28, 633
25, 720
14, 974
47, 304
63, 662
136, 004
175,179
422,150
864, 999
1, 287,149
285, 206
104, 098
122, 352
257
211,989
67, 675
103,151
272,356
128, 053
, 159, 650
15, 685
10, 592
133,879
22,460
246, 650
,296,
31, 798
1, 762, 684
987
430,
254
2, 084,
269
51, 989
92, 558
138,477
105, 593
913, 000
30, 811
1,332,429
1,309
933,971
764, 700
478,379
1,309
933,971
764, 700
478, 379
33
12,156
113,063
70, 050
33
12,156
113, 063
70,050
195,301
195, 301
47
STATISTICS OF INCOME
and of citizen or resident decedents * who died on or after May 11, 1934, taxable and
estate by form of property, deductions, net estate and tax
thousands ot dollars]
calendar year 1936]
Returns of resident decedents
Returns of citizen or resident decedents
Filed under Revenue Acts passed Filed under Acts of 1926 Filed under Acts of 1926
and
1934 (death in
and 1932 (death in
prior to 1926, Act
period May 11, 1934,
period 5 p. m. June 6,
of 1926 only '
through
August
30,
1932, through May 10,
(death before 5
1935) *
1934)3
p.m., June 6,
1932)2
Nontaxable returns—
returns
with no
net
estate
NonTax- taxable No net
Taxable re- t ure- s - estate
able
under
turns- r n
under
1926
returns no net
estate
both
Act,
with under
1926
but taxnet
and
estate 1926 or able
1932
1932
under
Acts
Acts
1932
Nontaxable re- No net
turnsestate
no net
under
estate
1926
under
Act,
1926 or b u t tax1934
able
Acts
under
1934
Act
Act
(6)
(5)
(7)
(9)
(8)
Filed under Acts of 1926
and 1935 (death on or
after August 31, 1935) 5
Taxable returns 7
Taxable returns 6
(10)
(11)
Taxable
under
both
1926
and
1934
Acts
(12)
l
Taxable returns 8
Nontaxable re- No net
turnsestate
no net
under Taxable
under
estate
1926
both
under
Act,
1926
1926 or but taxand
1935
able
1935
Acts
under
|
Acts
1935
Act
(13)
(14)
(15)
S
CO
35
27
136
124
39
1,337
2,158
2,128
960
3,084
1,577
1
1,930
1,904
6,072
3,954
3,273
38,484
51, 255
109,482
21,157
53, 075
62, 518
2
3
39
88
301
216
393
998
1, 529
2,527
2,913
717
829
113
161
337
947
1, 558
2,945
4,504
1, 715
559
682
202
2,087
1, 500
5,451
9,239
30, 705
39, 945
16, 496
15,178
8,155
1,124
7, 052
3,740
17, 031
28, 947
52, 566
81, 514
42,026
16, 748
11,354
27, 015
25, 067
88, 292
84, 824
225.199
489', 261
714, 460
107,801
46,108
67, 287
326
1,475
1,387
3,945
7,134
23, 645
30, 779
9, 916
8,460
4,759
1,614
9,962
5,104
19, 332
36, 012
66,761
102, 774
54, 397
17, 897
11, 799
17, 347
21,080
38, 314
52, 298
129,039
250,845
379, 884
75, 565
21, 781
29, 728
3
4
5
6
7
8
9
10
11
12
(16)
37
25
19
81
689
770
815
263
1,181
353
396
1, 091
1,487
790
289
672
15
92
36
119
262
3, 262
3, 524
1,406
1,820
879
4,959
5,142
13, 701
10, 941
10, 733
118, 258
202, 896 1,045,138
75, 071
239,942
569, 477
13
201
267
6, 523
22
3,350
61
181
568
16
2,000
865
608
10, 880
302
13, 600
407
518
1,361
329
12, 400
214
591
1,712
4
3,900
8,833
5,970
66, 561
14,044
133, 700
10, 290
9, 891
22, 704
8,293
215, 800
18, 420
44, 274
67, 066
68, 693
212,800
5,786
3,747
49,915
8,092
96, 000
11, 954
11, 569
17,960
4,879
308,400
10, 645
25, 536
27,105
23, 382
157, 700
14
15
16
17
18
272
237
174
22, 766
471
293
7,306
19
2,825
26, 256
15, 014
6,692
229, 345
267,151
434, 019
164, 011
355, 055
251, 674
20
2, 019
4,041
5, 850
42, 619
611,119
714, 212
(16)
279
10,642
1 309
1,007
317, 803
68, 566 4 09, 813
33
5
21
22
23
24
3,041
38
38
23
327
850
38
350
850
120, 626
67,009
25
26
27
28
3,041
70,360
29
8,778
111,848
3,350
48
STATISTICS OF INCOME
1
By section 403, Revenue Act of 1934, nonresident decedents are classified as citizens and aliens, and the
former are brought under the same provisions of the law as resident decedents.
2 For decedents who died before 10.25 a. m., February 26, 1926, returns are required to be filed under the
Revenue Act of 1924 or prior Acts if the gross estate exceeded $50,000 in value at date of death. During the
calendar year 1936,17 returns were filed under the Revenue Act of 1924 or prior Acts, of which 14 are taxable.
For decedents who died in period 10:25 a. m. February 26, 1926, through 4:59 p. m , June 6,1932, returns are
required to be filed under the Revenue Act of 1926 if the gross estate exceeded $100,000 in value at date of
death. For statement of rates, exemptions, and credits contained in the provisions of these Acts, see pp.
140-141.
3 Estates of decedents who died in period 5 p. m., June 6, 1932, through May 10, 1934, are subject to two
estate taxes, the tax levied under the provisions of the Revenue Act of 1926 and an additional estate tax
levied by the Revenue Act of 1932. Returns are required to be filed if gross estate exceeded $50,000 in value
at date of death. For statement of rates, exemptions, and credits contained in the provisions of these Acts,
see pp. 140-141.
4
Estates of decedents who died in period May 11,1934, through August 30,1935, are subject to two estate
4,
taxes, the tax levied under the provisions of the Revenue Act of 1926 and an additional estate tax levied by
the Revenue Act of 1932, as amended by the Revenue Act of 1934. Returns are required to be filed if the
gross estate exceeded $50,000 in value at date of death. For statement of rates, exemptions, and credits
contained in the provisions of these Arts, see pp. 140-141.
5
Estates of decedents who died on or after August 31,1935, are subject to two estate taxes, the tax levied
under the provisions of the Revenue Act of 1926 and an additional estate tax levied by the Revenue Act of
1932, as amended by the Revenue Act of 1935. Returns are required to be filed if the gross estate exceeded
$40,000 in value at date of death. For statement of rates, exemptions, and credits contained in the provisions of these Acts, see pp. 140-141.
6 A tabulation of these returns by net estate classes is found in tables 2 and 5, on pp. 49-50 and 56-57.
'8 A tabulation of these returns by net estate classes is found in tables 3 and 6, on pp. 51-53 and 58-59.
A tabulation of these returns by net estate classes is found in tables 4 and 7, on pp. 54-55 and 60-61.
9
The following items are distributed by form of property: Jointly owned property, $60,764,676; transfers
made in contemplation of or intended to take effect at or after death, $73,186,698; general power of appointment exercised by will or by deed in contemplation of death, $28,664,502; and property from an estate taxed
within five years, $65,606,656. For statistics from estate tax returns filed during 1927 to 1932 "jointly owned
property" only was distributed in this manner.
i° Securities the interest on which is wholly or partially exempt from the normal individual income tax
and surtax of the Federal Government.
11
For insurance exemption, see "Deductions."
1 Includes debts due the decedent, interest in business, claims, rights, royalties, pensions, leaseholds, judg2
ments, shares in trust funds, household goods and personal effects (including wearing apparel), farm products
and3 growing crops, live stock, farm machinery, automobiles, etc.
1 Specific exemption in Act of 1924 and prior Acts is $50,000 (tabulated in columns 5 and 6 for returns of
decedents who died before 10:25 a. m., February 26, 1926). Specific exemption in Act of 1926 is $100,000
(tabulated in columns 5 through 15 for returns of decedents who died at 10:25 a. in., February 26, 1926, or
thereafter).
i* A more detailed tabulation of net estate is found in tables 5, 6, and 7, on pp. 56-61.
is A more detailed tabulation of tax before tax credits, tax credits, and tax after tax credits is found in
tables 5, 6, and 7, on pp. 56-61.
1 Less than $500.
8
TABLE 2.—Taxable estate tax returns of resident decedents filed under Revenue Acts passed prior to 1926, Act of 1926 only, and under Acts of
1926 and 1932, by net estate classes, showing number of returns, gross estate by form of property, and deductions
[Net estate classes and money figures in thousands of dollars]
[Returns filed during calendar year 19361
Taxable returns filed under
Acts of 1926 and 1932 2
Serial numbe
1
9
3
4
5
fi
7
8
q
W
11
12
13
(1)
Gross estate: 5
Real estate
Investments in bonds and stocks:
Federal Government bonds:
Wholly tax-exempt 6 6
Partially tax-exempt
State and municipal bonds, wholly tax-exempt
All other bonds
Total bonds
>
Capital stock in corporations
Total bonds and stocks
Mortgages, notes,7 cash, etc
Insurance (gross)
Miscellaneous 8
_
Total gross estate
For footnotes, see p . 50.
Total
under
1926 Act,
b u t taxable under
1932 Act 3
Net estate classes by size of net estate under Revenue Act of
1926 4—Taxable under both 1926 and 1932 Acts
Under 50
50 under
100
(5)
(3)
(2)
Number of returns—.
No net
estate
(6)
100 under 200 under 400 under 600 under
800
400
200
600
(7)
(8)
(10)
(9)
27
163
124
22
7
4
4
1
1
1,904
7,228
3,954
1,371
517
627
672
55
TATISTICS
passed
prior
to 1926,
Act of 1926
only i
Serial number
Revenue
Acts
1
O
30
y—
Q
353
396
1,091
1,487
790
289
672
201
462
553
1,341
2, 556
4,475
7,031
4,628
1,276
1,512
88
301
216
393
998
1,529
2,527
2,913
717
829
21
77
19
140
257
636
893
1,008
204
269
92
60
100
102
355
679
1,033
123
250
231
5,142
21, 674
10, 941
3,746
2,155
3
39
(10)
_ _
_
4
53
17
74
124
197
169
81
19
16
640
674
534
1,208
126
4
87
7
669
677
2
101
5
1,075
2,098
839
1
6
143
48
191
303
495
287
8
820
3
4
5
6
7
8
9
10
11
12
O
Pi
TABLE 2.—Taxable estate tax returns af resident decedents filed under Revenue Acts passed prior to 1926, Act of 1926 only, and under Acts of
1926 and 1932, by net estate classes, showing number of returns, gross estate by form of property, and deductions—Continued
Or
O
[Net estate classes and money figures in thousands of dollars]
[Returns filed during calendar year 1936]
Taxable returns filed under
Acts of 1926 and 1932 2
Revenue
Acts
passed
prior
to 1926,
Act of 1926
only i
(1)
(2)
Total
Net estate classes by size of net estate under Revenue Act of
No net
1926 4—Taxable under both 1926 and 1932 Acts
estate
under
1926 Act,
but taxunder 100 under 200 under 400 under 600 under
able under Under 50 50 100
200
400
600
800
1932 Act 3
(3)
(6)
(5)
(7)
(8)
(9)
(10)
M
CO
O
Deductions:
Insurance exemption—
Funeral and administrative expenses
Debts, unpaid mortgages, etc
Charitable, public, and similar bequests
Specific exemption 9
Property from an estate taxed within 5 years: Value at date of
previous or present decedent's death, whichever is lower
20
Total deductions..
CO
61
181
568
16
2,000
620
1,108
3,073
332
16, 300
407
518
1,361
329
12, 400
21, 706
15,014
3
700
400
82
272
2,825
83
102
91
169
638
1
2,200
159
31
3,182
1,716
494
186
400
100
100
854
246
200
o
1
For decedents who died before 10:25 a. m., February 26,1926, returns are required to be filed under the Revenue Act of 1924 or prior Acts if gross estate exceeded $50,000 in value
at date of death. During the calendar year 1936, 14 taxable returns were filed under the Revenue Act of 1924 or prior Acts. For decedents who died in period 10:25 a. m., February
26,1926, through 4:59 p . m., June 6, 1932, returns are required to be filed under the Revenue Act of 1926 if the gross estate exceeded $100,000 in value at date of death.
2
Returns of decedents who died in period, 5 p . m., June 6, 1932, through May 10, 1934.
3 Returns with gross estates of $50,000 or more.
4
Net estate after deduction or specific exemption of $100,000.
5 The following items are distributed by form of property: Jointly owned property, $741,176; transfers made in contemplation of or intended to take effect at or after death, $1,693,356; general power of appointment exercised by will or by deed in contemplation of death, $47,382; and property from an estate taxed within five years, $1,276,468. For statistics from
estate tax returns filed during 1927 to 1932, "jointly owned property" only was distributed in this manner.
e Securities the interest on which is wholly or partially exempt from the normal income tax and surtax of the Federal Government.
7
For insurance exemption see "Deductions."
* Includes debts due the decedent, interest in business, claims, rights, royalties, pensions, leaseholds, judgments, shares in trust funds, household goods and personal effects (including wearing apparel), farm products and growing crops, live stock, farm machinery, automobiles, etc.
» Specific exemption in Act of 1924 and prior Acts is $50,000 (tabulated in column 2 for returns of decedents who died before 10:25 a. m., February 26,1926). Specific exemption in
Act of 1926 is $100,000 (tabulated in columns 2 through 10 for returns of decedents who died in period 10:25 a. m., February 26,1926, through M a y 10,1934),
jo Less than $500.
'
Q
TABLE 3.—Taxable estate tax returns of citizen or resident decedents 1 filed under Revenue Acts of 1926 and 1934, by net estate classes, showing
number of returns, gross estate by form of property, and deductions
[Net estate classes and money figures in thousands of dollars]
[Returns filed during calendar year 1936]
Serial number
Taxable returns filed under Acts of 1926 and 1934 2
Total
(1)
(2)
4,286
Number of returns
Gross estate: 8
?,
160,738
Real estate
Investments in bonds and stocks:
Federal Government bonds:
6
3
28,139
Wholly tax-exempt 6
4
32,119
Partially tax-exempt
5
92, 032
State and municipal bonds wholly tax exempt.
6
101,856
All other bonds
7
254,147
Total bonds
.
8
541,827
Capital stock in corporations
9
795,973
Total bonds and stocks _
10
149,827
Mortgages, notes,7 cash, etc
11
62,855
Insurance (gross)
12
78, 641
Miscellaneous 8
.-_
13
1, 248, 034
Total gross estate
Deductions:
14
Insurance exemption
28, 709
15
54,165
Funeral and administrative expenses
16
89,771
Debts, unpaid mortgages, etc__17
76,985
Charitable, public, and similar bequests
18
Specific exemption, Act of 1926 ( $ 1 0 0 , 0 0 0 ) . . . . 428,600
22,940
19
Property from an estate taxed within 5 years:
Value at date of previous or present decedent's
death, whichever is lower.
20
Total deductions
701,170
1
For footnotes, see p. 53.
No net esNet estate classes by size of net estate under Revenue Act of 1926 4
tate under
1926 Act,
but taxable
under 200 under 400 under 600 u n d e 800 under 1,000 un- 1,500 ununder 1934 Under 50 50 under 100200
600
der 1,500 der 2,000
100
400
800
1,000
Acts
(12)
(4)
(10)
(5)
(6)
(8)
(3)
(7)
(9)
(ID
B
§
'S
CQ
2,158
757
411
357
300
111
56
31
45
19
1
51, 255
26,824
16,230
14,911
16,467
7,933
3,585
5,611
5,609
1,642
2
1,124
7,052
3,740
17, 031
28, 947
52, 566
81,514
42, 026
16, 748
11, 354
1,044
4,271
3,176
10, 667
19,157
35, 726
54,883
20, 928
9, 424
7,500
792
3,255
2,383
9,333
15,764
30, 763
46,526
14, 822
7,743
3,773
2,418
4,193
6,969
13, 431
27, 011
44, 619
71,631
14,513
8,768
7,151
2,181
3,939
9,023
15,103
30, 246
62, 392
92, 638
15,900
8,243
10, 274
1,902
2,361
5,110
12, 233
21,607
33, 325
54,932
10,409
3,094
3,194
944
1,700
4, 643
5,057
12, 343
25, 539
37,883
5,296
1,407
3,313
884
909
4,711
3,296
9,801
14,852
24, 653
2,725
1,705
1,796
6,075
1,654
13, 603
7,345
28,678
40,635
69,313
4,956
2,202
4,602
1,897
917
6,726
2,614
12,154
19,683
31,838
3,745
889
3,644
3
4
5
6
;
8
9
10
11
12
202, 896
119,558
89,094
116,975
143, 521
79, 562
51,484
36,490
86,681
41,756
13
10, 290
9,891
22, 704
8,293
215, 800
174
4,880
5,732
12, 953
2, 267
75, 700
2,061
3,476
4,247
7,416
1,954
41,100
1,304
3,582
5,220
8,151
9,047
35, 700
2,750
3,320
6,539
10,477
6,883
30,000
1,533
854
3,384
3,879
4,213
11,100
1,864
681
2,520
3,400
708
5,600
345
417
1,693
2,998
1,165
3,100
112
425
3,833
5,543
18,619
4,500
1,486
245
1,744
1,233
3, 690
1,900
1,621
14
15
ifi
17
18
19
267,151
103, 593
59,498
64, 450
58, 752
25, 294
13, 253
9,485
34,407
10,433
20
M
H
Q
Ul
9
o
o
TABLE 3.— Taxable estate tax returns of citizen or resident decedentsi filed under Revenue Acts of 1926 and 1934, by net estate classes, showing
number of returns, gross estate by form of property, and deductions—Continued
fcO
[Net estate classes and money figures in thousands of dollars]
[Returns filed during calendar year 1936]
Taxable returns filed under Acts of 1926 and 19342— Continued
1
3
4
5
7
9
10
H
12
13
14
15
16
17
18
19
20
2,500 under 3,000
(13)
Number of returns
Gross estate: 5
Real estate.. _.
.
Investments in bonds and stocks:
Federal Governments bonds:
Wholly tax-exempt 6 6
Partially tax-exempt
_
State and municipal bonds, wholly taxexempt.
All other bonds
Total bonds
Capital stock in corporations
Total bonds and stocks
Mortgages, notes, cash, etc
Insurance (gross) 7
Miscellaneous 8___
Total gross estate
Deductions:
Insurance exemption
Funeral and administrative expenses
Debts, unpaid mortgages, etc
Charitable public, and similar bequests
Specific exemption, Act of 1926 ($100,000)
Property from an estate taxed within 5 years:
. Value at date of previous or present decedent's
death, whichever is lower.
Total deductions
3,000 under 3,500
3,500 under 4,000
4,000 under 5,000
5,000 under 6,000
6,000 under 7,000
(15)
2,000 under 2,500
(16)
(IT)
(18)
(19)
S-i
10,000
7,000 un- 8,000 un- 9,000 under 8,000 der 9,000 der 10,000 and over
(20)
(21)
(22)
(23)
Serial num
1 Serial number
Net estate classes by size of net estate under Revenue Act of 19264—Continued
in
$
14
5
5
2
1
5
1
2
6
1
1,391
1,518
885
199
268
2,309
619
164
3,318
9
2,871
547
8,697
1,540
692
5,464
274
204
3,078
1
31
499
91
1,534
96
3,419
2,568
297
9,899
3
4
5
o
2,165
14,279
17,705
31,984
2,673
364
3,326
312
8,009
1,968
9,978
3,227
126
248
527
4,083
12,862
16,945
2,272
946
841
68
599
14,669
15, 268
254
54
173
52
362
1,960
2,322
66
594
13, 358
93, 366
106, 724
4,636
877
9,613
6
7
8
q
10
11
12
o
o
39,738
15, 096
21,889
15, 947
131
1,473
1,137
2,837
1,400
1,622
45
770
68
194
500
4
125
927
820
292
500
3,002
8,601
1,581
5,667
o
m
219
671
1,032
1, 703
4,033
5,736
110
1,746
947
5,996
15,422
21,418
1,020
246
4,257
303
48
48
19,741
19, 789
250
20
1,534
4,401
29, 250
6,768
21, 758
125,168
13
1,048
1,544
633
200
5,056
151
90
26
100
90
857
691
469
500
6
381
73
100
20
228
1,172
783
200
127
3,527
5,422
14,911
600
14
15
16
17
18
19
8,481
367
2,613
554
2,402
24, 588
20
j
1 By sec. 403, Revenue Act of 1934, nonresident decedents are classified as citizens and aliens, and the former are brought under the same provisions of the law as resident decedents.
2
Estates of decedents who died in period May 11, 1934, through August 30,1935, are subject to two estate taxes, the tax levied under the provisions of the Revenue Act of 1926
and an additional estate tax levied by the Revenue Act of 1932, as amended by the Revenue Act of 1934. Returns are required to be filed if grcss estate exceeded $50,000 in value at
date of death. For statement of rates, exemptions, and credits contained in the provisions of these Acts, see pp. 140-141.
3 Returns with gross estate of $50,000 or more.
4
Net estate after deduction of specific exemption of $100,000.
s The following items are distributed by form of property: Jointly owned property, $28,317,648; transfers made in contemplation of or intended to take effect at or after death,
$41,787,838; general power of appointment exercised by will or by deed in contemplation of death, $19,480,780; and property from an estate taxed within five years, $39,834,212. For
statistics from estate tax returns filed during 1927 to 1932 "jointly owned property" only was distributed in this manner.
6
Securities the interest on which is wholly or partially exempt from the normal income tax and surtax of the Federal Government.
7 For insurance exemption see "Deductions."
8
Includes debts due the decedent, interest in business, claims, rights, royalties, pensions, leaseholds, judgments, shares in trust funds, household goods and personal effects (including wearing apparel), farm products and growing crops, live stock, farm machinery, automobiles, etc.
M
o
w
o
Q
O
[ E 4.—Taxable estate tax returns of citizen or resident decedents 1 filed under Revenue Acts of 1926 and 1935, by net estate classes, showing
number of returns, gross estate by form of property, and deductions
[Net estate classes and money figures in thousands of dollars]
[Returns filed during calendar year 1936]
Taxable returns filed under Acts of 1926 and 19352
Total
(1)
20
Number of returns
Gross estate:5
Real estate
Investments in bonds and stocks:
Federal Government bonds:
Wholly tax-exempt6 6
Partially tax-exempt
State and municipal bonds, wholly taxexempt
All other bonds
Total bonds
Capital stock in corporations
Total bonds and stocks
Mortgages, notes, cash, etc
Insurance (gross)7
Miscellaneous8
Total gross estate
Deductions:
Insurance exemption
Funeral and administrative expenses
Debts, unpaid mortgages, etc
Charitable, public and similar bequests
Specific exemption, Act of 1926 ($100,000)
Property from an estate taxed within 5 years:
Value at date of previous or present decedent's
death, whichever is lower..
Total deductions
(2)
Net estate classes by size of net estate under Revenue Act of 19264
No net estate under
1926 Act,
50 under 100 under 200 under 400 under 600 under 800 under 1,000 un- 1,500 unbut taxa200
400
100
ble under Under 50
600
1,000
der 1,500 der 2,000
800
1935 Act3
(5)
(8)
(10)
(12)
(7)
(3)
(6)
(11)
4,661
3,084
656
115, 593
53, 075
17, 314
18,961
31,042
1,614
9,962
43, 419
71, 630
165, 052
317, 606
482, 658
129, 962
39, 678
41, 527
809, 419
276
7 ^
269
197
84
8,877
9,577
9,113
7,581
1,731
1,840
2,170
2,057
456
4,379
509
2,150
785
3,444
726
3,223
1,106
3,047
507
706
253
979
1,026
1,220
1,043
304
5,104
19, 332
36,012
66, 761
102,774
54, 397
17,897
11, 799
239, 942
3,301
11, 507
19, 643
34,050
53, 694
18,349
5,387
4,444
99,187
2,049
6,117
10, 825
24, 678
35, 503
8,970
3,589
2,605
59, 544
3,541
6,502
14, 273
32, 866
47,139
13, 538
3,817
3,364
77, 436
5,669
8,889
18, 507
41, 716
60, 224
13,064
3,430
3,296
89.127
3,610
4,763
12, 527
28, 660
41,187
6,286
2,504
9,268
66, 825
3,082
2,367
6,661
10, 361
17,022
3,115
1, 296
1,161
24, 326
1,931
1,272
4,435
15,184
19, 619
1,165
627
393
23, 645
6,952
4,332
13, 529
18,118
31, 647
3,077
442
1,625
38,962
1,143
1,576
4,067
8,506
12, 573
557
24
173
15, 383
22, 599
37,104
45,065
28, 260
466,100
11,954
11, 569
17,960
4,879
308,400
3,232
4,685
6,672
2,800
65, 600
1,923
2,584
4,101
2,119
27, 600
1,851
3,646
3,013
2,117
26,900
1,685
4,129
4,183
1,866
19, 700
1,007
2,845
3 315
9,458
8,400
445
1,026
1,271
202
2,700
233
1,073
642
514
2,100
53
1,507
1,001
2,593
2,500
11
571
605
1,390
700
7,599
606, 728
293
355,055
1,845
84,835
1,459
39, 786
2,021
39, £
886
32, 449
119
25,144
5,644
580
5,142
224
7,878
3,277
25
1
H-l
o
o
Serial ni
1
9
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
2,000 under 2,500
(13)
Number of returns
Gross estate: 5
Real estate
Investments in bonds and stocks:
Federal Government bonds:
Wholly tax-exempt 6 6
Partially tax-exempt
State and municipal bonds, wholly tax-exempt
All other bonds.
Total bonds
Capital stock in corporations
__. Total bonds and stocks
Mortgages, notes,7 cash, etc
Insurance (gross)
._
.-.
. - . _._
Miscellaneous 8 - __
Total gross estate
._.
Deductions:
Insurance exemption ._. _. ._
_ .. _
Funeral and administrative expenses
Debts, unpaid mortgages, etc
Charitable, public, and similar bequests
Specific exemption, Act of 1926 ($100,000)
Property from an estate taxed within 5 years: Value at date
of previous decedent's death
Total deductions
®
a
2,500 under 3,000
(14:)
3,000 un- 3,500 un- 4,000 under 3,500 der 4,000 der 5,000
(15)
(16)
(17)
5,000 under 6,000
6,000 under 7,000
(18)
(19)
7,000 un- 8,000 un- 9,000 under 8,000 der 9,000 der 10,000
(22)
(20)
(21)
Seaial m
Taxable returns filed under the Acts of 1926 and 1935 2—Continued
Net est ate classes by size of net estate under Reve nue Act of 19264— Continued
a
r-t
2
3
5
1
2
1
1
1
43
909
720
56
97
145
289
9
34
129
213
70
446
3,866
4,312
551
58
35
5,000
547
1,007
809
145
2 508
2,479
4,987
2 556
63
495
9,011
3,042
400
1,093
1,326
5 861
9,672
15, 533
1 560
270
69
2,397
2 397
1,293
3, 690
598
19
1,235
7,297
91
1,489
1,031
9 908
5,614
15, 522
1,176
111
799
18,151
5,598
17, 705
18
9,207
10, 372
58
175
50
15
200
40
301
51
170
300
27
802
229
138
500
189
444
40
1,408
799
479
71
40
115
657
100
200
100
100
14
15
16
17
18
163
660
862
1, 705
733
2,447
650
913
19
20
15
3,371
3,386
4,725
8,111
932
63
3
66
9,056
9,122
70
145
745
9
3
4
5
6
7
8
9
10
11
12
13
1
By sec. 403, Revenue Act of 1934, nonresident decedents are classified as citizens and aliens, and the former are brought under the same provisions of the law as resident decedents.
2
Estates of decedents who died on or after August 31, 1935, are subject to two estate taxes, the tax levied under the provisions of the Revenue Act of 1926 and an additional estate
tax levied by the Revenue Act of 1932, as amended by the Revenue Act of 1935. Returns are required to be filed if gross estate exceeded $40,000 in value at date of death. For statement of rates, exemptions, and credits contained in the provisions of these Acts, see pp. 140-141.
3 Returns with gross estate of $40,000 or more.
* Net estate after deduction of specific exemption of $100,000.
s The following items are distributed by form of property: Jointly owned property, $23,063,154; transfers made in contemplation of or intended to take effect at or after death,
$25,729,629; general power of appointment exercised by will or by deed in contemplation of death, $8,903,708; and property from an estate taxed within five years, $20,478,504. For
statistics from estate tax returns filed during 1927 to 1932 "jointly owned property" only was distributed in this manner.
6
Securities the interest on which is wholly or partially exempt from the normal income tax and surtax of the Federal Government.
7
For insurance exemption see "Deductions."
8
Includes debts due the decedent, interest in business, claims, rights, royalties, pensions, leaseholds, judgments, shares and trust funds, household goods and personal effects
(including wearing apparel), farm products and growing crops, live stock, farm machinery, automobiles, etc.
o
Xfl
a
o
TABLE 5.—Taxable estate tax returns of resident decedents filed under Revenue Acts passed prior to 1926, Act of 1926 only, and under Acts of
1926 and 1932, by net estate classes, shovnng number of returns, net estate, and tax
Or
[Net e s t a t e classes a n d money figures in t h o u s a n d s of dollars]
[Returns filed during calendar year 1936]
Taxable returns filed under
Serial number
passed
prior
to 1926,
Act
of 1926
only !
(1)
(2)
Total
Net estate classes b y size of net estate under Revenue Act of
Nonet
1926 4—Taxable under both 1926 and 1932 Acts
estate
under 1926
Act, but
taxable
50 under 100 under 200 under 400 under 600 under
under 1932 Under 50
200
400
600
800
100
Act3
(6)
(5)
(4)
(3)
(8)
(7)
(10)
(9)
Serial numbe
Acts of 1926 and 1932 *
Revenue
Acts
i
O
R e t u r n s filed u n d e r Acts passed prior to 1926:
1
?,
3
4
5
fi
7
8
9
10
11
12
13
14
15
16
17
18
5
Number of returns _
_
._ _
_
Net estate ($50,000 exemption)
Tax:
Tax before tax credit
Tax credit for inheritance taxes 6
Tax credit for gift taxes 7
Tax (3 less 4 and 5)
Returns filed under Act of 1926 only, Acts of 1926 and 1932:8
Number of returns.,
Net estate to which 1926 rates apply ($100,000 exemption)
Net estate to which 1932 rates apply ($50,000 exemption)..
Tax under 1926 Act:
Tax before tax credits.
Tax credit for inheritance taxes 6
Tax credit for gift taxes 7
Tax (10 less 11 and 12)
Additional tax under 1932 Act:
Tentative tax (application of rates in 1932 Act)
Tax at 1926 Act rates (before tax credits)
Additional tax (14 less 15)
Tax credit for gift taxes 7
Net additional tax (16 less 17)
19
Total tax liability (sum of 6,13 and 18)
. ._
14
1,309
1
2
33
3
4
5
6
(9)
33
13
1,007
20
15
5
163
4,041
7,869
104
81
38
387
7
439
756
4
581
781
4
1,244
1,444
1
593
643
1
620
670
7
8
9
5
4
11
8
36
29
22
18
24
19
10
11
12
13
2
1
4
7
4
5
38
67
6
61
40
5
35
55
11
44
128
36
92
68
22
46
73
24
49
38
61
35
44
92
46
49
14
15
16
17
18
38
63
36
47
99
51
54
19
23
468
104
364
(9)
364
22
564
1,556
6
4
124
2,019
38
(9)
j
o
o
' Returns of decedents who died before 5 p. m., June 6,1932.
2 Returns of decedents who died in period 5 p. m., June 6, 1932, through May 10, 1934.
Returns with gross estate of $50,000 or more.
Net estate after deduction of specific exemption of $100,000.
Returns of decedents who died before 10:25 a. m., February 26,1926.
Estate, inheritance, legacy, or succession taxes paid to any other States, Territories, or the District of Columbia.
7 Credit for gift taxes paid to the Federal Government.
8
Returns of decedents who died in period 10:25 a. m., February 26,1926, through May 10, 1934.
9
Less than $300.
3
4
6
6
w
Q
in
p
TABLE 6.— Taxable estate tax returns of citizen or resident decedents 1 filed under Revenue Acts of 1926 and 1934 by net estate classes, showing
number of returns, net estate, and tax
00
[Net estate classes and money figures in thousands of dollars]
[Returns filed during calendar year 1936]
Taxable returns filed under Acts of 1926 and 1934 2
Serial number
Total
(1)
(2)
der 1926
Act, but
taxable
under 1934
Act3
(3)
Under 50
(4)
50 under lOOundei 200 under 400 under 600 under 800 under
100
200
800
1,000
400
600
(6)
(5)
(7)
(8)
(9)
(10)
1,000
under
1,500
1,500
under
2,000
(11)
(12)
Serial number
Net estate classes by size of net estate under Reve nue Act of 1926 *
No net
estate un-
>
Tfi
H
1
3
4
6
7
8
9
10
11
12
Returns filed under Revenue Acts of 1926 and 1924:
Number of returns
Net estate to which 1926 rates apply ($100,000
exemption).
Net estate to which 1934 rates apply ($50,000
exemption).
Tax under 1926, Act:
Tax before tax credits
. .
Tax credit for inheritance taxes 5
Tax credit for gift taxes 6
Tax (4 less 5 and 6)
_
Additional tax under 1934 Act:
Tentative tax (application of rates in 1934
Act).
Tax at 1926 Act rates (before tax credits) —
Additional tax (8 less 9) 6
Tax credit for gift taxes
Net additional tax (10 less 11)
13
4,286
611,119
2,158
757
15,965
411
29,595
357
52, 525
300
84, 768
111
54, 269
56
38, 231
31
27,006
45
52, 275
19
31,324
1
756,830
42, 619
51,876
49, 650
69, 960
99, 588
59, 700
41,011
28, 554
54, 496
32, 237
3
386
301
2,341
1 809
9
522
1,881
1 425
14
442
1,529
1 144
1
385
1,224
979
2,764
2,212
1,936
1,455
4
o
245
553
481
6
7
O
85
1,041
805
5
232
2,256
3,331
6,262
11, 646
8,408
6,546
5,019
10, 832
7,269
8
386
2,945
2,341
9,305
15
9,290
1,881
6,527
1,529
5,017
1,224
3,795
2,764
8,067
1,936
5,333
2,945
1,041
5,220
6
5,214
6,527
5,017
3,795
8,067
5,333
9
10
11
12
3,030
5,446
9,813
6,989
5,401
4,040
8,620
5,814
13
41,112
32 305
29
8,778
153,835
160
121
1
38
851
41,112
112, 723
25
112, 698
850
160
2,096
3
2,093
Total tax liability (sum of 7 and 12) _ 121, 476
850
2,131
851
(7)
Taxable returns filed under Acts of 1926 and 1934 2—Continued
Net estate classes by size of net estate under Revenue Act of 1926 4—Continued
1
2
3
4
5
6
7
8
9
10
11
12
7,000 un- 8,000 un- 9,000 un10,000
der 8,000 der 9,000 der 10,000 and over
(13)
Returns filed under Revenue Acts of 1926 and 1934:
Number of returnsNet estate to which 1926 rates apply ($100,000
exemption).
Net estate to which 1934 rates apply ($50,000 exemption) .
Tax under 1926 Act:
Tax before tax credits
__
Tax credit for inheritance taxes 5
Tax credit for gift taxes 6
Tax (4 less 5 and 6)
Additional tax under 1934 Act:
Tentative tax (application of rates in 1934 Act)
Tax at 1926 Act rates (before tax credits)
Additional tax (8 less 9) 6
Tax credit for gift taxes
_ _
Net additional tax (10 less 11)
Total tax liability (sum of 7 and 12) _
13
1
(16)
5,000 un- 6,G00 under 6,000 der 7,000
(14)
(15)
14
31,137
5
13, 516
5
16, 222
2
7,466
1
4,034
5
26, 637
1
6,214
2
19,355
6
100, 580
1
2
31, 818
13, 765
16,447
7,538
4,084
26, 887
6,264
19,455
100,880
3
2,183
1,599
1,029
823
1,339
994
658
526
368
295
2,763
2,210
688
550
2,585
2,068
16, 237
12, 990
4
5
6
7
(17)
(18)
(19)
(20)
(21)
(22)
Serial num
Serial num
0
2,000 un- 2,500 un- 3,000 un- 3,500 un- 4,000 under 2,500 der 3,000 der 3,500 der 4,000 der 5,000
(23)
584
206
345
132
74
553
138
517
3,247
7,973
2,183
5,790
3,701
1,029
2,672
4,737
1,339
3,398
2,294
658
1,637
1,285
368
917
9,526
2,763
6,763
2,354
688
1,666
8,517
2,585
5,933
51,028
16, 237
34, 791
5,790
2,672
3,398
1,637
917
6, 763
1,666
5, 933
34, 791
8
9
10
11
12
6,374
2,878
3,743
1,768
991
7, 316
1,804
6,450
38, 038
13
By sec. 403, Revenue Act of 1934, nonresident decedents are classified as citizens and aliens, and the former are brought under the same provisions of the law as resident decedents.
2 Estates of decedents who died in period May 11, 1934, through August 30, 1935, are subject to two estate taxes, the tax levied under the provisions of the Revenue Act of 1926
and an additional estate tax levied by the Revenue Act of 1932, as amended by the Revenue Act of 1934. Returns are required to be filed if gross estate exceeded $50,000 in value at
date of death. For statement, of rates, exemptions, and credits contained in the provisions of these Acts, see pp. 140-141.
3
Returns with gross estate of $50,000 or more.
* Net estate after deduction of specific exemption of $100,000.
5
Estate, inheritance, legacy, or succession taxes paid to any of the States, Territories, or the District of Columbia.
6
Credit for gift taxes paid to the Federal Government.
7 Less than $500.
M
in
H
Q
o
o
g
TABLE 7.—Taxable estate tax returns of citizen or resident decedents x filed under Revenue Acts of 1926 and 1935, by net estate classes, showing
number of returns, net estate, and tax
[Net estate classes and money figures in thousands of dollars]
[Returns filed during calendar year 1936]
Serial numbe
Taxable returns filed under Acts of 1926 and 1935 2
Total
(1)
(2)
No net estate under
1926 Act,
but taxable under Under 50
1935 Act 3
(3)
Net estate classes by size of net estate under Revenue Act of 1926 4
under
200
200
under
400
under
600
under
800
600
800
under
1,000
1,000
under
1,500
1,500
under
2,000
(5)
(4)
100
100
(6)
' (7)
(8)
(9)
(10)
(11)
(12)
50
under
400
I
CO
I I
1
2
3
4
5
6
8
9
10
11
12
Returns filed under Revenue Acts of 1926 and 1935:
Number of returns
Net estate to which 1926 rates apply ($100,000
exemption).
Net estate to which 1935 rates apply ($40,000
exemption).
Tax under 1926 Act:
Tax before tax credits
Tax credit for inheritance taxes 5
Tax credit for jzift taxes 6
Tax (4 less 5 and 6)
Additional tax under 1935 Act:
Tentative tax (application of rates in 1935
Act).
Tax at 1926 Act rates (before tax credits)
Additional tax (8 less 9)
Tax credit for gift taxes 6
Net additional tax (10 less 11).
13
Total tax liability (sum of 7 and 12) _
H
1 1
—
4,661
317, 803
3,084
656
14, 353
276
19, 758
269
37, 887
197
56, 677
84
41, 681
27
18, 682
21
18, 502
25
31, 084
7
12,106
1
2
478,379
68, 566
52,144
35, 843
53, 633
68, 374
46, 709
20, 302
19, 739
32, 574
12, 526
3
144
110
733
568
4
161
1,578
1,224
3
351
1,454
1,141
756
605
844
664
313
151
180
1,699
1,309
3
387
764
605
33
257
202
1
55
159
4
5
6
7
15,177
11 817
10
3,350
(0
3,042
4,486
4,051
7,208
11, 039
8,629
4,114
4,313
7,989
3,387
8
15,177
70,074
24
70,050
3,042
1
3,041
144
4,342
2
4,341
257
3,794
2
3,792
733
6,474
7
6,467
1, 578
9,462
2
9,460
1,454
7,175
756
3,358
844
3,469
764
2,623
7,175
3,358
3,469
1,699
6,290
10
6,280
2,623
9
10
11
12
73, 401
3,041
4,374
3,847
6,628
9,811
7,488
3,509
3,649
6,667
2,782
13
85, 251
O
a
o
Taxable returns filed under Acts of 1928 and 1935 *—Continued
]
3
4
5
6
7
R
q
10
11
12
2,000
under
2,500
13
Total tax liability (sum of 7 and 12)
3,000
under
3,500
3,500
under
4,000
4,000
under
5,000
5,000
under
6,000
6,000
under
7,000
7,000
under
8,000
8,000
under
9,000
9,000
under
10,000
(13)
Returns filed under Revenue Acts of 1926 and 1935:
Number of returns
Net estate to which 1926 rates apply ($100,000 exemption)
Net estate to which 1935 rates applv ($40,000 exemption)
Tax under 1926 Act:
Tax before tax credits __ . .
Tax credit for inheritance taxes 5
_ _. ___ __
Tax credit for gift taxes 6
Tax (4 less 5 and 6)
Additional tax under 1935 Act:
Tentative tax (application of rates in 1935 Act)
Tax at 1926 Act rates (before tax credits)
Additional tax (8 less 9)
Tax credit for gift taxes 6
... _ ,
Net additional tax (10 less 11)
2,500
under
3,000
(14)
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
2
4,339
4,455
3
8,149
8, 329
5
16,446
16, 746
1
4,865
4, 925
2
15, 258
15, 378
1
8,557
8,617
1
9,459
9,519
301
241
622
326
1,366
1,093
485
388
1,841
1,473
1 084
867
1 251
1,001
60
296
273
97
368
217
250
1,288
301
937
2,583
622
1,961
1,883
1,398
6,986
1,841
5,145
4,071
1,084
2,987
4 650
1,251
3,399
987
1,047
5,532
1 368
4, 168
Serial numbei
Serial numbei
Net estate classes by size of net estate under Revenue Act of 1926 4—Continued
1
o
3
I
5
g
7
Q
1,961
4,166
1,398
5,145
2,987
3,399
10
11
12
2 267
4 440
1 495
5,513
3,204
3,649
13
1 By sec. 403, Revenue Act of 1934, nonresident decedents are classified as citizens and aliens, and the former are brought under the same provisions of the law as resident decedents.
2
Estates of decedents who died on or after August 31, 1935, are subject to two estate taxes, the tax levied under the provisions of the Revenue Act of 1926 and an additional estate
tax levied by the Revenue Act of 1932, as amended by the Revenue Act of 1935. Returns are required to be filed if gross estate exceeded $40,000 in value at date of death. For statement of rates, exemptions, and credits contained in the provisions of these Acts, see pp. 140-141.
3
Returns with gross estate of $40,000 or more.
4
Net estate after deduction of specific exemption of $100,000.
s Estate, inheritance, legacy, or succession taxes paid to any other States, Territories, or the District of Columbia.
• Credit for gift taxes paid to the Federal Government.
7 Less than $500.
i
Q
a
o
TABLE 8.—Estate tax returns of resident decedents who died before May 11, 1934, and of citizens or resident decedents1 who died on or after
May 11, 1934, by States and Territories, and by taxable and nontaxable returns, showing number of returnst gross estate, net estate, and tax
O5
[Money figures in thousands of dollars]
[Returns filed during calendar year 1936]
Returns filed under Revenue Acts passed prior to 1926, Act of 1926 only, or under Acts of 1926 and 1932,1926 and 1934, or 1926 and 1935
Taxable returns •
Tax
States and Territories
Number of
Total
number nontaxable
of returns returns 2 Number of
returns
Gross
estate
1926 A c t 8
Net estate
after $100,000 exemption 4
Tax before
tax credits
Alabama
_
Arizona
Arkansas
California
Colorado _
Connecticut
Delaware _
District of Columbia
Florida
Georgia
,_
Hawaii
Idaho
Illinois
Indiana
Iowa
.
Kansas .__
Kentucky
Louisiana
._
Maine
Maryland
Massachusetts
Michigan
Minnesota
_
_ _
-
._ . .
_.
-. -_
_
_ _
_. _
83
16
41
1,131
98
323
31
136
129
90
25
14
662
240
237
148
129
85
109
218
653
240
170
15
5
12
255
23
56
4
32
35
21
6
4
144
62
74
29
28
19
16
47
128
34
19
68
11
29
876
75
267
27
104
94
69
19
10
518
178
163
119
101
66
93
171
525
206
151
11, 777
1,665
3,613
149,240
21, 744
61, 257
6,087
23,028
69,165
11,476
4,148
1,419
106,085
26,328
16,889
12,937
16,846
15,949
20,350
35,548
117,575
72,437
28,661
3,769
326
639
52,835
7,488
26,893
3,16(8
9, 413
34,170
4,024
1,988
557
41,944
7,567
2,576
2,213
6,111
6,306
8 495
16, 326
51,355
41, 731
10,831
Additional
tax 1932,
Tax credits
100
6
13
1,803
482
1,085
142
382
4,825
106
58
15
1,582
199
49
45
268
194
294
793
2,096
3,672
435
Inheritance taxes, Gift taxes 7
etc.6
71
5
11
1,431
386
868
113
9
3,860
84
46
12
1,170
136
34
35
196
155
235
594
1,675
2,936
348
10
1
6
14
1
1
Total tax
29
1
3
361
97
217
28
373
965
22
11
3
406
50
15
9
72
39
59
198
421
734
87
487
42
104
8,622
1,496
4,182
511
1,580
10,738
611
265
80
6,447
1,198
387
361
1,083
954
1 292
2,761
7,776
10,198
1,724
H
h<
1935 A c t 8
Tax
517
43
107
8,983
1,593
4,399
539
1,953
11 703
633
277
83
6,853
1,249
401
370
1,156
993
1 351
2,959
8,197
10, 932
1,811
o
o
g
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina.
North Dakota..
Ohio
Oklahoma
Oregon
Pennsylvania.. _
_
Rhode Island....
South Carolina.
South Dakota__
Tennessee
Texas
Utah
Vermont
Virginia.
Washington »
West Virginia...
Wisconsin
Wyoming
Total
45
241
21
123
1
61
682
10
2,322
108
18
599
85
61
921
99
40
27
102
325
16
43
159
153
67
255
13
17
123
4
453
30
4
144
20
7
181
18
5
4
30
100
2
7
34
57
19
41
5
11,605
2,468
33
203
15
84
1
44
559
78
14
455
65
54
740
81
35
23
72
225
14
36
125
96
48
214
9,137
6,085
42, 909
1,742
10,908
73
8,337
119,169
1,210
514,120
22, 310
1,133
92,603
14,209
9,270
216, 666
23,725
4,474
2,332
11, 787
38, 590
1,847
6,965
26,047
17,183
8,467
47,043
843
2,372
18,507
400
3,018
76
681
83
67
3,280
51, 747
398
251,939
12,003
80
39, 687
5,466
3,120
124,422
12, 205
961
358
2,960
13,161
551
3,089
11, 998
6,458
2,670
23, 539
167
100
2,846
9
16,652
1,348
1
1,671
331
128
10,226
503
20
4
110
434
13
157
411
307
74
1, 605
2
79
2,273
4
12,988
1,077
1
1,331
226
102
8,172
402
16
3
88
323
11
126
322
245
54
1,284
2
2,084,269
935, 280
56, 446
44, 218
15
137
2
17
61
544
379
2,685
56
498
(10)
21
571
5
3,663
271
(10)
(10)
340
105
26
2,050
101
4
1
22
111
3
32
(10)
(10)
(10)
39
61
20
321
12,188
394
2,822
58
*14
(10)
433
10,535
45
51,065
3,322
18
6,945
1,076
503
28,293
1,901
141
57
598
2,259
78
530
1,937
1,273
419
5,143
26
454
11,106
50
54, 728
3,593
18
7,285
1,180
529
30, 343
2,002
145
58
620
2,370
81
562
2,026
1, 334
440
5,465
26
183,113
195, 301
1 By sec. 403 of the'Revenue Act of 1934, nonresident decedents are classified as citizens and aliens, and the former are brought under the same provisions of the law as resident
decedents.
2 Includes 3 nontaxable returns of decedents who died before 10.25 a. m., February 26, 1926,filedunder Acts passed prior to 1926.
3 Includes data for 14 taxable returns of decedents who died before 10.25 a. m., February 26, 1926,filedunder Acts passed prior to 1926.
* Net estate to which the 1926 rates apply. (Includes net estate after $50,000 specific exemption for 14 taxable returns of decedents who died before 10.25 a. m., February 26, 1926.)
* The provisions of Acts passed prior to 1926 apply to 14 taxable returns of decedents who died before 10.25 a. m.; February 26,1926.
* Estate, inheritance, legacy, or succession taxes paid to any of the States, Territories, or the District of Columbia.
7
Credit for gift taxes paid to the Federal Government.
« For method of computing the additional tax under the Revenue Act of 1932, 1934, or 1935, see pp. 140-141.
•Includes Alaska.
« Less than $500.
S
U2
9
o
o
CO
64
STATISTICS OF INCOME
TABLE 9.—Historical summary of estate tax returns for all decedents filed Sept. 9,
1916, through Dec. 81, 1936, showing number of returns, gross and net taxable estate^
and taxl
[Money figures in thousands of dollars]
Returns filed
Filing period
Resident
decedents 2
Total
Sept 9, 1916-Jan. 15,1922.
Jan. 15-Dec. 31,1922
Jan. 1-Dec. 31:
1923
1924.—
1925_
-.1926
1927
—
1928
-.
1929
1930
—
1931.
1932
1933..1934....
1935
1936
Gross estate
Nonresident de-3
cedents
Total
Nonresident decedents 8
45,126
13,876
42,230
12, 563
2,896
1,313
8,893,239
3,014,073
8, 785, 642
2, 955, 959
107,597
58,113
15,119
14,513
16,019
14, 567
10, 700
10,236
10,343
10,382
9,889
8,507
10, 275
11, 853
12, 724
13, 321
13, 963
13,011
14,013
13,142
9,353
8,079
8,582
8,798
8,333
7,113
8,727
1,156
1,502
2,006
1,425
1,347
2,157
1,761
1,584
1,556
1,394
1, 548
1,500
1, 614
1,716
2,804,327
2, 566, 522
3,001, 089
3,407,923
3,173, 235
3, 554,270
3,893, 246
4,165, 623
4,075, 575
2, 830,388
2, 060,956
2, 267, 285
2, 459,892
2, 312,421
2, 774, 741
2, 540,922
2,958,364
3,386,267
3,146, 290
3, 503, 239
3,843, 514
4,108, 517
4,042,381
2, 795, 818
2,026, 931
2,244,107
2, 435, 282
2, 296,257
29, 587
25,600
42, 725
21, 656
26, 945
51, 032
49, 732
57,106
33,195
34, 570
34,025
23,178
24, 609
16,163
10. 353
11,110
11, 605
Net taxable estate
Filing period
Total
Sept. 9, 1916-Jan. 15, 1922.
Jan. 15-Dec. 31, 1922
Jan. 1-Dec. 31:
1923
1924.
1925
1926
1927
1928
1929
1930
1931
1932
1933*
1934*
,. —
1935*
1936 *_
Resident
decedents *
Resident
decedents 2
Tax
Nonresident decedents 3
Total
Resident
decedents 2
Nonresident decedents 3
5, 509, 522
1, 704, 974
5, 407, 674
1, 652,832
101, 849
52,142
356, 516
120, 562
351,138
117,624
5,378
2,938
1,532,061
1, 395, 816
1, 658,869
1,972, 537
1,761,617
1,992, 503
2,313,976
2, 427, 454
2,356,332
1,423,437
828,302
902, 745
1,051,378
949,906
1, 504,621
1, 372, 421
1, 621.008
1, 951, 969
1, 735,840
1, 943, 429
2,268,323
2,376, 973
2,327,319
1,391, 569
798,246
882, 712
1,028,490
935, 280
27,440
23, 395
37. 861
20, 567
25, 777
49, 075
45,653
50, 481
29,013
31, 868
30,056
20, 033
22, 888
14, 627
89,109
71,939
87,322
101,805
41,686
41,959
44,388
41, 617
45,200
23, 674
61,415
96, 216
155,466
196,370
88,384
71,451
86,223
101, 324
40,931
40, 561
43,303
39,003
44, 540
22,364
59,429
95, 228
153, 763
195, 301
726
488
1,099
481
755
1,398
1,085
2,614
660
1,310
1,986
988
1,703
1,069
1 Changes in the Revenue Acts affecting the comparability of statistical data from estate tax returns are
summarized on pp. 140-141.
2 Includes citizens residing outside the United States who died on or after May 11,1934.
3 Excludes citizens residing outside the United States who died on or after May 11,1934.
* The net taxable estate for decedents who died after 4:59 p. m. June 6,1932, is shown under the provisions
of the Revenue Act of 1926, whereas the tax is under the provisions of that Act plus the additional tax under
the Revenue Act of 1932, or that Act as amended by the Revenue Acts of 1934 and 1935.
STATISTICS OF INCOME
65
GIFT TAX RETURNS
There are presented herein tables compiled from data reported on
gift tax returns for 1935, filed during 1936. The provisions of the
Revenue Act of 1934 apply to gifts made during the calendar year
1935. This Act imposes a tax, payable by the donor, upon the transfer of property by gift made subsequent to June 6, 1932, at rates
graduated from three-fourths of 1 percent upon net gifts of less than
$10,000 to 45 percent on the amount in excess of $10,000,000. Any
individual citizen or resident of the United States who makes any
transfer by gift which exceeds $5,000 in value to any one donee, or
regardless of value if the gift consists of a future interest, must file a
gift tax return. A nonresident alien is similarly required to file a
return if the gift consists of property situated in the United States.
The rates of tax in force for the calendar year for which the return is
filed are applied, first, to the cumulative net gifts made from June 6,
1932 (the date of the enactment of the Revenue Act of 1932), through
the end of the calendar year for which the return is filed. From the
tax so determined there is deducted an amount computed by applying
the same rates to the cumulative net gifts made up to the beginning of
such calendar year. The balance is the tax liability for the calendar
year for which the return is filed.
The following tables show form of property in which gifts were
made by net gift classes; also number of returns, total gifts before
exclusions, exclusions, total gifts after exclusions, deductions, net
gifts, and tax, classified by net gift classes, by total gift classes, and
by taxable and nontaxable returns.
The data presented are based on the returns as filed and prior to any
revision that may subsequently be made as the result of audit by the
Bureau of Internal Revenue. The tax liability shown in the tables
does not correspond with the actual collections for the same period,
as payment of the tax shown on the returns is at times deferred, and
for the further reason that any deficiency taxes or overassessments
disclosed by the audit are not reflected.
In the tables, the term "total gifts" represents the value of the
property transferred less any money consideration received in exchange, provided a donative intent existed. The tax is imposed upon
the net gifts which are obtained by subtracting from the total gifts:
(1) An exclusion of $5?000 for each donee (except in cases of future
interests);
(2) The included amount of gifts represented by charitable, public,
and similar gifts; and
(3) A specific exemption not in excess of $50,000 for each resident or
citizen donor, all of which may be taken in one year or the amount
spread over a period of years at the option of the donor.
The several forms of gifts, comprising total gifts, have been
classified under the headings of real estate, stocks and bonds, cash,
insurance, and miscellaneous. The last-named classification includes
jewelry, objects of art, copyrights on books, the forgiveness of debts,
interest in business, the assignment of a judgment, the assignment of
benefits of a contract of insurance, etc. Gifts of stocks and bonds comprise 73.2 percent of total gifts, gifts of cash amount to 8.7 percent,
real estate 7.1 percent, miscellaneous gifts 6.3 percent, and insurance
4.7 percent. Gifts for charitable, public, and similar purposes amount
to 5.9 percent of the total gifts made.
66
STATISTICS OF INCOME
Slightly less than one-half of the total gifts was effected by trusts.
The following table gives, for each form of property, the total gifts,
amount by trust, and all other gifts:
Gift tax returns for 1935 by form of property, showing the total gifts, amount by trust,
and all other gifts
[Thousands of dollars]
Real estate
Stocks and bonds
Cash
Insurance _ __
Miscellaneous
Amount
by trust
Total
gifts
Form of property
__ _ _
_
_
150,991
1,558,724
185,889
101,144
133, 766
.
Total
49,699
829,939
55,797
36,809
53,420
101,291
728,784
130,092
64, 334
80, 347
2,130, 514
_____
. __
All other
gifts
1,025,665
1,104,848
From the following table comparison can be made with respect to all
returns for the calendar years 1932 through 1935:
Gift tax returns for 1932,l through 1935, showing total number of returns, taxable and
nontaxable returns, total gifts, net gifts, and tax
[Money figures in thousands of dollars]
Number of returns
Calendar years
Total
1932 i
1933
1934
1935
Taxable
1,747
3,683
9,270
22,563
Total
gifts
Net
gifts
81,389
241,008
888,753
2,130,514
17,879
101,793
537,086
1,196,001
Nontaxable
245
878
2,528
8,718
1,502
2,805
6,742
13,845
Tax
1,111
8,943
68,383
162,798
*1932 covers period from June 6 through December 31. 1932.
Of the donors who filed gift tax returns for 1935, there were 4,535
who had also filed returns in one or more prior years. The number
of returns, net gifts, and tax of these identical donors are given in the
following table:
Gift tax returns of identical donors for 1935 and one or more prior years,1 showing
number of returns, net gifts, and tax
[Money figures in thousands of dollars]
Number of
returns
for
1935
Eeturns taxable for 1935 of donors
filing nontaxable returns for
prior years
-_ __.
Eeturns taxable for 1935 of donors
filing taxable returns for prior
years
Eeturns not taxable for 1935 of
donors filing taxable returns
for prior years
Eeturns not taxable for 1935 of
donors filing nontaxable returns for prior years
Total
1
Net gifts on returns for
Prior
years i
1,428
416,938
1935
198,667
394,348
811,286
91,851
19,971
414,319
1,029,924
Prior
yearsi
20,226
198,667
1,508
Total
19,971
1935
68
Total
20,226
79,544
171,395
2,379
2,379
81,924
194,000
1,531
4,535
615,605
Period from June 6,1932, through December 31,1934.
Tax on returns for
112,077
67
STATISTICS OF INCOME
TABLE 1.—Gift tax returns for 1935 by net gift classes, showing number of returns,
total gifts * by form of property, exclusions, total gifts after exclusions, deductions^
net gifts,2 and tax
[Net gift classes and money figures in thousands of dollars]
Total gifts by form of property
Net gift classesa
Nontaxable returns:
N o n e t gifts
Taxable returns:
Under 10
10-20
20-30
30-40
40-50
50-100
100-200
200-400
400-600
600-800...
800-1,000.
1,000-1,500
1,500-2,000
2,000-2,600
2,500-3,000
3,000-3,500
3,500-4,000
4,000-4,500
4,500-5,000
5,000-6,000
6,000-7,000
7,000-8,000
8,000-9,000
9,000-10,000
10,000 and over..
Number
of returns
Total gifts
Real
estate
Stocks and
bonds
Cash
Insurance
Miscellaneous
before exclusions
13,845
59,868
236, 257
57,923
27, 708
38,696
420,453
1,591
958
702
581
731
1,553
1,274
744
264
7,896
6,348
4,795
4,074
4,855
14,086
15,021
8,731
6,594
3,448
959
2,152
888
872
335
4
50,730
36, 644
34, 745
33,977
51, 677
139,148
187, 248
197,397
121,466
58, 254
57,072
91, 700
56,204
22, 376
13,421
24,339
7,746
4,435
4,965
5,898
8,309
6,343
4,873
4,158
7,959
14, 615
17,833
21,814
14,304
4,874
2,406
8,620
4,950
426
419
2,423
68
7
7,374
5,236
4,213
3,197
3,979
12,499
14,672
10,044
5,257
1,111
1,226
1.237
2,631
466
7,886
4,539
4,513
4,218
5,654
12,302
13,035
14,442
5,361
4,885
4,377
2,950
4,131
582
3,112
47
82,194
59, 111
53,138
49,624
74,124
192, 651
247,809
252,429
152,982
72, 572
66,040
106,659
68,805
24,723
17,288
26, 814
8,106
4,442
4,965
6,008
35
3,000
9,204
130,372
96
69
83
37
10
6
8
2
1
1
1
292
110
9,169
113,854
3,455
91,122
1,322,466
127,966
73,436
95,070
1,710,061
150,991
1, 558,724
185,889
101,144
133, 766
2,130,514
Net gifts
Tax
10,063
Total taxable returns.
Grand total
Deductions
Net gift classes *
Nontaxable returns:
No net gifts
Exclusions not
exceeding Total gifts Charitaafter ex$5,000 for
ble gifts
clusions
each
after exdonee
clusions 3
109,259
311,194
27,109
15,365
9,840
7,700
6,840
7,330
18,855
17, 280
12,010
4,710
2,010
1,650
2,460
880
430
160
230
65
49, 271
45,438
42,784
66, 794
173, 796
230, 529
240,419
148, 272
70, 562
64,390
104,199
67,925
24,293
17,128
26, 584
8,041
3,572
666
1,843
341
3,378
2,050
2,523
10,837
12, 359
1,390
409
1,297
1,772
2,042
182
320
33
Specific
xemption Total declaimed
ductions
in 1935
return *
284,085
311,194
56,849
60,421
35,459
28,112
22,617
34,127
62,249
49,299
36,389
20,628
3,811
2,415
3,302
2,721
2,108
332
473
83
Taxable returns:
Under 10
10-20.
20-30.
30-40
40-5050-100
100-200
200-400
__
400-600
_
600-800..
800-1,000
1,000-1,500—
1,500-2,000—
2,000-2,500—.
2,500-3,000—.
3,000-3,500-..
3,500-1,000—
34,793
26,269
22,277
30, 749
60,200
46,776
25,552
8,268
2,421
2,006
2,005
949
66
150
153
50
6,408
13,812
17, 327
20,166
32,667
111,546
181,229
204,030
127,645
66, 751
61,975
100,897
65, 205
22,184
16,796
26, 111
7,959
83
210
350
442
819
4,295
11,500
18,138
14, 793
9,178
9,130
17,341
13,033
5,017
4,225
7,020
2,255
1
Total gifts before subtracting exclusions and before deducting charitable, public, and similar gifts and
specific exemptions.
2
Net gifts after exclusions and deductions.
3
Total charitable, public, and similar gifts after total exclusions for such gifts not exceeding $5,000 for each
donee (except future interests).
* A specific exemption of $50,000 is allowed each resident or citizen donor. At the option of the donor, this
amount may be taken in one year or spread over a period of years.
68
STATISTICS OF INCOME
TABLE 1.—Gift tax returns for 1935 by net gift classes, showing number of returns^
total gifts2 l by form of property, exclusions, total gifts after exclusions, deductionsy
net gifts, and tax—Continued
[Net gift classes and money figures in thousands of dollars
Deductions
Exclusions not Total gifts
exceeding after ex- Charita- Specific
Net gifts
$5,000 for clusions
ble gifts exemption Total deeach
after ex- claimed ductions
in 1935
donee
clusions 3 return *
Net gift classes >
Tax
Taxable returns—Con.
10
5
20
9,194
130,132
2
50
30
37
52
30
37
4,380
4,930
5,952
1,065
1,262
1,644
41,195
1C0
41,295
9,194
88,837
3,019
37,977
4,432
4,960
5,988
10
240
4,000-4,500.
4,500-5,000
5,000-6,000
6,000-7,000. .
7,000-8,000
8,000-9,000 9,000-10,000
10,000 and over
Total taxable returns.
108,100
1,601,961
86,211
319, 750
405,961
1,196,001
162, 798
Grand total
217, 358
1, 913,155
113,320
603,835
717,155
1,196,001
162, 79&
_
For footnotes, see p. 67.
TABLE 2.—Gift tax returns for 1935 by total gift classes and by taxable 1and nontaxable returns, showing number of returns, total gifts before exclusions, exclusionst
total gifts after exclusions, deductions, net gifts,2 and tax
[Total gift classes and money figures in thousands of dollars!
Taxable
Deductions
Total gift classes i
Total
number of Numreturns ber of
returns
Under 10
10-20
20-30
30-40
40-50
50-100
100-200
200-400...
_.
400-600
600-800
800-1,000
1,000-1,500
1,500-2,000
2,000-2,500.
2,500-3,000
3,000-3,500
3,500-4,000
4,000-4,500
4,500-5,000
5,000-6,000
6,000-7,000.
7,000-8,000
8,000-9,000
9,000-10,000
10,000 and over..
Total
2,493
3,425
2,452
1,844
2,144
5,510
2,754
1,203
346
127
72
106
40
15
8
10
1
3
1
137
220
209
204
223
3,112
2,707
1,188
337
123
69
103
39
15
8
10
1
3
1
Total
gifts
before
exclusions
895
3,164
5, 095
7, 050
10,035
229, 220
363, 800
319,018
162, 705
83, 937
61, 344
123,472
66, 469
31, 900
21,879
32, 948
3,638
12, 548
4,965
Exclusions
not exceeding
$5,000
for
each
donee
495
1,345
1,620
1,865
2,345
30, 025
35, 990
18, 545
6,055
2,550
1,600
2,760
1,220
460
305
285
35
75
5
6,C
22, 563
For footnotes, see p.
150
10
340
400
1,819
3,475
5,185
7,690
199,196
327,811
300, 473
156, 650
81, 387
59, 744
120,712
65, 249
31, 440
21, 574
32, 663
3,603
12, 473
4,960
Charitable, public, and similar Specific
bequests
exemp- Total
tion
claimed deducNum- Amount in 1935 tions
after
ber of exclu- return *
donees sions 3
5
5
6
20
85
165
165
112
48
31
67
35
23
17
14
4
3
15
12
44
129
874
1,942
2,939
2,772
1,384
960
6,177
4,321
919
1,648
447
1,140
35
40
311
950
1, 464
3,638
131, 412
114, 734
45, 571
11,604
3,343
1,966
2,799
949
233
198
203
100
30
20
8,492
9,204
142,274
Total
gifts
after
exclusions
8,718 1, 710, 061
40
325
961
1, 508
3,766
132, 286.
116, 676
48, 511
14, 377
4,728
2,926
8,976
5,270
1,152
1,846
649
1,140
135
30
37
8, 342
9,194
141, 934
32
52, 367
146
52, 513
108,100 1, 601, 961
851
86, 211
319, 750
405,961
8,085
~8~108
69
STATISTICS OF INCOME
TABLE 2.—Gift tax returns for 1935 by total gift classes and by taxable and nontaxable
returns, showing number of returns, total gifts before exclusions,1 exclusions,
total gifts after exclusions, deductions, net gifts,2 and tax—Continued
[Total gift classes and money figures in thousands of dollars]
Taxable— Con.
Nontaxable
Deductions
Total gift
classes
Net
gifts
U n d e r 10
10-20
20-30 .
30-40
40-50
50-100
100-200
200-400
400-600
600-800
800-1,000
1,000-1,500
1,500-2,000.
2,000-2,500.
2,500-3,000
3,000-3,500
3,500-4,000
4,000-4.500
4,500-5,000
5,000-6,000
6,000-7,000
7,000-8 000
8,000-9,000
9,000-10,000
10,000 a n d o v e r . .
Total
Tax
359
1,494
2,514
3,677
3,923
66,910
211,134
251, 982
142, 274
76, 659
56,818
111, 736
59,979
30, 288
19, 728
32,013
2,462
12, 339
4,930
11
46
83
147
130
1,743
9,628
19, 756
15, 465
9,952
8,199
18, 485
11, 455
6,780
4,461
8,669
484
3,321
1,262
5,952
Specific
exemp- Total
tion
claimed deducin 1935i tions
return
1,644
234
9,194
89, 421
Total
gifts
Numbefore
ber of
returns exclusions
Exclusions
Charitable, pubnot ex- Total lic, and similar
gifts
ceeding after
bequests
$5,000 exclufor
sions
each
Num- Amount
donee
after
ber of excludonees sions 3
17
3,019
38, 040
1,196,001 162, 798
10,195
5,988
19,544 25,862
16,885 37, 356
14, 335 42, 206
16,690 70, 208
29, 645 106, 712
1. 310
4,804
'280
3,722
195
4,152
125
2,680
15
2,586
25
3,341
15
1,578
56
110
79
44
37
105
83
44
35
21
2
2
3
123
5,865
744 25,118
745 36,611
508 41,699
547 69, 661
2,607 104,105
3,959
845
3,640
82
4,117
35
2,661
18
2,586
3,293
47
1,578
5,988
25, 862
37, 356
42, 206
70,208
106, 712
4,804
3,722
4,152
2,680
2,586
3,341
1,578
13,845 420, 453 109, 259 311,194
621
27,109 284,085
311, 206
2,356 16,183
3,205 45,406
2,243 54, 241
1,640 56, 541
1,921 86,898
2,398 136, 357
47
6,114
15
4,002
9
4,347
4
2,805
3
2.601
3
3,366
1
1,593
1
Total gifts before subtracting exclusions and before deducting charitable public and similar gifts and
specific exemption.
2
Net gifts after exclusions and deductions.
« Total charitable public and similar gifts after total exclusions for such gifts not exceeding $5,000 for each
donee (except future interests).
4
A specific exemption of $50,000 is allowed each resident or citizen donor. At the option of the donor,
amount may be taken in one year or spread over a period of years.
Tables are continued in the following pages, exhibiting in greater
detail information from individual income tax returns.
There is also included a synopsis of individual income and profits
tax rates, estate and gift tax rates, credits, and exemptions affecting
the comparability of the data in the Statistics of Income.
Statistics from the corporation income and excess-profits tax
returns and personal holding company returns for 1935 are being
prepared and will be issued under the title "Statistics of Income for
1935, Part 2."
Respectfully,
GUY T. HELVERING,
Commissioner of Internal Revenue.
JOHN W. HANES,
Acting Secretary of the Treasury.
BASIC TABLES
INDIVIDUAL RETURNS
71
73
STATISTICS OF INCOME
TABLE 1.—Individual returns for 1935 by States and Territories, showing population
and percent of population filing returns, number of returns, net income and tax;
also average net income and average tax, and personal exemption and credit for
dependents
[For text defining certain items and describing methods o f tabulating and estimating data, see pp. 1-4]
States and
Territories
Alabama
Arizona
Arkansas
California
Colorado
Connecticut-__
Delaware
Dist. of Col._.
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana—
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
MassachusettsMichigan
Minnesota
Mississippi
Missouri
Montana, _ —
Nebraska
Nevada
N. HampshireNew J e r s e y —
New M e x i c o New York
N. Carolina
North DakotaOhio
Oklahoma
Oregon
PennsylvaniaKhode Island..
So. Carolina.-_
South DakotaTennessee
Texas
Utah.
Vermont
Virginia. __ .
Washington *._
W. Virginia
Wisconsin
Wyoming
Total—.
Population
July 1,
1935
(Census
Bureau
estimate)
(in thousands)
Average
Percent of
popu- Number
of relation
turns
filing
returns
2,834
388
1,999
5,639
1, 062
1,717
256
594
1, 614
3,345
386
479
7,817
3,429
2,534
1,848
2,846
2,120
845
1,669
4,375
4,661
2, 627
1,961
3,913
531
1,364
99
502
4,288
402
12, 889
3,417
700
6,707
2, 509
1,008
10, 066
681
2,012
675
2,904
6,077
515
377
2, 637
1, 695
1, 816
2,908
232
127, 967
* Includes Alaska.
0.92
3.61
.70
6.52
3.15
5.88
4.44
16.04
2.36
1.40
3. 44
2^30
4. 42
2! 40
2.28
2.14
1.40
1.89
2.58
5.55
5.89
3.73
2.75
.69
2.82
3.75
2.29
6.51
3.52
5.21
2.31
6.61
1.05
1.43
3.68
1.79
3 30
3.87
4.85
.84
1.42
1.46
2.16
2.74
2.89
2.08
4.13
2.05
3.64
3.77
26,141
13, 941
14, 085
367, 757
33, 475
100, 898
11,371
95, 271
38, 021
46, 702
13, 262
11, 005
345,857
82,436
57, 788
39,492
39, 763
40,123
21, 826
92, 550
257, 495
173, 799
72, 258
13, 570
110, 370
19, 924
31, 253
6, 441
17, 687
223, 489
9,272
852, 076
35, 813
10, 039
246, 888
44, 909
33, 273
389,994
33, 009
16.828
9,582
42, 341
131,447
14, 088
10, 903
54, 835
69, 919
37, 224
105, 785
8,739
Net income
Tax
Net income
Tax
Personal
exemption
and credit
for dependents
$80,443,944 $1, 701, 528 $3, 077. 31
$65.09
$60,002,062
38, 298,031
647,859 2, 747.15
46.47
29,906, 758
43, 351,163
796, 832 3, 077.82
56.57
34, 044, 348
1,172, 303,199 42,033, 332 3,187. 71
114. 30
742, 531,487
108, 379, 317
4, 057, 259 3, 237. 62
121. 20
73, 630, 241
340, 303, 213 17, 227, 337 3,372. 74
170. 74
197, 258, 725
64, 759,925 11,401,715 5, 695.18 1, 002. 70
23, 573,943
268, 667,106
7,175,849 2, 820. 03
75.32
180,442,361
144, 693,408
8,933,457 3, 805. 62
234. 96
88,0i0,347
150, 963,172
4,149, 454 3, 232. 48
88.85
109, 230,944
46, 901,822
32 006 722
2, 396, 253 3, 536. 56
180. 69
UWy \J\J\Jj
I SJJU
351,103 2,708.13
29,803,013
3L90
23 636 764
1,171,833. 651 51,134,158 3,388 20
736 195 713
147 85
245,979, 617
8,487,456 2,983'. 89
102! 96
174,994, 282
148, 525, 910
2, 790, 513 2, 570.19
48.29
125, 383,682
111, 404,165
2,041, 689 2, 820. 93
89 614 262
51 70
125,10)., 178
3, 742, 279 3,146.17
94^11
86,934,718
122, 582, 017
3, 065, 551 3,055.16
76.40
86, 959,959
69,455,451
46,044 703
2, 567, 514 3 182 23
117. 64
316,888,322 12, 013, 217 3,423. 97
129. 80
201,238^ 725
825, 327, 457 3',804,163 3, 205. 22
123. 51
524, 799,329
568, 269, 799 .' ,319,046 3, 269. 70
162. 94
376, 244. 587
222, 817, 905
o, 672, 968 3, 083. 64
92.35
155, 747,323
36, 878, 747
870, 027 2, 717. 67
64.11
32, 259,930
358, 068,146 12, 426, 233 3, 244. 25
112. 59
241,839,846
56, 719, 731
981,165 2, 846. 80
49.25
42, 949,828
93,113,326
1, 795, 640 2, 979. 34
57.45
70, 083, 111
20, 681, 384
1, 363, 651 3, 210. 90
211. 71
13, 262, 384
51, 553, 939
1, 435,182 2, 914. 79
81.14
35,930, 264
737,154, 952 34, 603,809 3, 298. 39
154.83
490,377, 774
25, 399, 852
364, 772 2, 739. 41
39.34
20,418, 395
3,106, 263, 965 202, 971, 449 3, 645. 52
238. 21 1,833,125,724
124,880, 237
84,391,831
6,419, 410 3, 487. 01
179. 25
23,077,405
191,412 2, 298. 78
19.07
23, 652, 765
766, 528, 630 28, 981, 842 3 104 76
524,159, 075
117. 39
139,147, 683
3,433, 003 3, 098. 44
76.44
111,151,618
91, 305, 901
1, 625, 697 2, 744.14
48.86
71,122,459
1, 273, 383. 247 57, 052, 818 3, 265.14
146. 29
825,114,167
113, 640.801
6, 002, 036 3, 442. 72
181. 83
68, 424,150
47,010, 243
802, 720 2, 793. 90
47.71
• 39,585,677
24, 693, 550
22, 071, 731
345, 333 2, 577. 08
36.04
135, 557, 076
3,937, 433 3, 201. 56
92.99
96,816,125
439,162,958 19,498, 410 3 340 99
277, 293, 494
148 34
39,902.816
6m, 084 2, 832. 40
48.70
35, 237,841
30, 293, 579
503, 958 2, 778. 46
46.22
22,930, 548
171, 203,815
124,453,195
5, 288, 764 3,122.16
96.08
197,923, 584
3,868, 053 2, 830. 76
55. 32
145, 904, 239
106, 920, 022
83, 421, 663
2, 276,187 2, 872. 34
61.15
258, 590, 449
5, 577,366 2, 444. 49
52.72
219,535,194
23, 703, 202
648, 357 2, 712. 35
73.96
18, 943, 723
3.58 4, 575, 012 14, 909,812, 025 657,439, 343
3, 258. 97
143. 70 9,772,888,716
74
STATISTICS OF INCOME
TABLE 2.—Individual returns for 1935 by net income classes, showing number of
returns, net income and tax, average tax, effective tax rate, personal exemption and
credit for dependents, and earned income credit
[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-4]
Tax
Net income classes
(Thousands of dollars)
Number
of returns
Average
Net income
Total
Normal
Surtax
Total tax
Under 1 (est.) L_
Under 1 (est.).—
1-1.5 (est.) L . . . . .
1-1.5 (est.)
1.5-2 (est.) *
1.5-2 (est.)
2-2.5 (est.) i
2-2.5 (est.)
2.5-3 (est.) i
2.5-3 (est.)
3-3.5 (est.) i
3-3.5 (est.)
3.5-4 (est.) *
3.5-4 (est.)
4-4.5 (est.) »
288,910
10,684
660,160
427,115
335,505
355,151
343,618
155,829
497,253
126,999
218,080
162,963
77,059
157,185
25,171
126,270
11, 396
95,549
6,970
125, 672
84, 618
55,249
38,546
28,787
22,320
17, 574
13,995
11,811
9,797
31,477
16, 590
9,763
10,690
5,576
3,256
1,948
1,319
923
587
1,395
523
236
137
132
74
80
29
23
8
2
7
1
4-4.5 (est.)
4.5-5 (est.) i
4.5-5 (est.)
6-61
5-6
6-7
7-8
8-9
9-10
10-11
11-12
12-13
13-14
14-15
15-20
20-25
25-30
30-40
40-50
_.
50-60.
..._
60-70
70-80-._
80-90
_
90-100
100-150_.._
150-200
200-250
250-300
300-400..
400-500..
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and over
Classes g r o u p e d 2
Total.
$193,095,264
5,804,301
787,819, 357
554, 731, 840
581, 578,672
610,697,979
780,605,305
344, 615,483
1,352,711,957
353,650, 704
697,648, 774
530,306,973
284, 625,865
588, 728, 512
105,912, 712
535, 292, 371
53, 842, 296
452, 749, 379
37, 865,848
686, 589,069
546, 931,490
412, 520,999
326,653,405
272,841, 665
233,830,850
201, 744, 979
174. 654, 985
159, 202, 389
141. 941,600
541, 397,650
369,499,032
266,684, 544
367, 580, 930
248, 043, 638
177,663,517
125,891,921
98,453, 227
78, 050, 598
55, 712, 980
168, 379, 030
90,053, 559
52, 500, 792
37, 356,833
45,103,350
32,803,995
48,904,407
24, 906, 873
27, 517, 660
13, 575,172
(»)
23, 416, 523
(2)
$124,619
$124,619
$11.66
"2," 930," 318'
~"6."86
7,128,153
7,128,153
" 26"07
"5," 400," 604"
~ 7 6 , ~ 604
34.66
3,910,235
30.79
4,241, 986
~4,~241,"986"
26.03
~5,~263,"6l7~
5,263, 617
5, 626, 587
"5," 606," 275
$20,312
44.56
"5," 605," 689
"5,~556,"560~
49,129
58.67
10, 740,592
10,043, 721
9,507,834
9, 296, 744
9,139,366
9, 785,190
8, 431, 734
7, 938, 471
7,793,938
7,445,010
33, 229, 759
29,130,046
25,938,816
44,235, 716
36,495, 908
30, 822, 727
25, 074, 966
22,110,409
19, 427, 062
15,380,772
54,132,460
35,021,995
22, 276,396
16, 740, 391
21,191, 967
16,053,008
25,017,085
13, 306, 230
15, 226, 671
7, 565, 558
(2)
13, 414,915
(2)
9,988,092
8,828,485
7, 339,430
6,186, 564
5,418, 787
4,795,449
4,195, 529
3,659,041
3,403, 724
3,057,441
11,787,682
8,178,049
5,783, 656
7,750,091
4, 997,441
3, 508, 780
2, 324, 626
1,828,620
1,427,13Q
1,115, 491
2, 729, 708
1, 264, 220
676,862
487,477
55« 661
324, 511
389, 594
263,472
268,025
24,124
(*)
6,811
33.49
752,500
1,215,236
2,168,404
3,110,180
3, 720, 579
4,989, 741
4,236, 205
4, 279, 430
4, 390. 214
4, 387, 569
21,442,077
20,951,997
20,155,160
36,485,625
31,498,467
27, 313, 947
22, 750, 340
20,281,789
17,999,926
14,265,281
51. 402, 752
33,757, 775
21, 599, 534
16,252,914
20,633, 306
15, 728,497
24, 627, 491
13,042,758
14,958, P>46
7, 541,434
(2)
13, 408,104
(*)
85.47
118.69
172.09
241.19
317.48
438.40
479. 78
567. 24
659. 89
759.93
1,055.68
1, 755. 88
2, 656.85
4,138.05
6, 545.18
9, 466.44
12, 872.16
16, 763. 01
21,047. 74
26,202.34
38,804. 63
66, 963. 66
94,391. 51
122.192.64
160, 545. 20
216, 932. 54
312,713. 56
458,835. 52
662,029.17
945, 694. 75
(2)
1,916, 416.43
(2)
1, 764,026.00
9,120, 771
5, 292, 078
84,272
5,207,806
4, 575,012 14,909,812, 025
657,439, 343
152,814,218
504,625,125
Nontaxable returns l
Taxable returns.
For footnotes, see p. 75.
143.70
- '
2,464,122 4,875,706,050
2,110,890 10,034,105,975
657,439,343
152,814,218
'504,~625,~i25
'
•—r
"31L45
75
STATISTICS OF INCOME
TABLE 2.—Individual returns for 1935 by net income classes, showing number of
returns, net income and tax, average tax, effective tax rate, personal exemption and
credit for dependents, and earned income credit—Continued
{For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-4]
TaxContinued
Personal exemption and credit for dependents
AverageContinued
Net income classes
(Thousands of dollars)
Total
Personal
exemption
$477,823, 298
873,500
1,194,938, 465
423,087,236
857,403, 601
364, 542,150
931, 874,891
166,916, 909
1, 461, 347, 649
211,006,487
701, 548, 955
359, 883, 582
261, 466, 595
386,021, 087
82,874, 309
326, 475, 447
34,168, 228
252, 974, 290
21,802, 648
328, 658,156
220,975, 971
144,117,473
99,109, 630
73, 382, 990
56, 012, 045
43, 895, 652
34, 564, 300
29, 437, 884
24, 250, 685
76, 062, 390
39, 680. 492
23, 265, 687
25,139,950
12, 824, 480
7, 732, 555
4, 481, 822
2, 996, 938
2, 092, 670
1, 325, 683
3,150, 568
1, 203, 392
487. 724
281, 992
268, 358
158, 525
154. 415
69, 363
38, 599
20, 200
$440, 912,065
791,956
1,057,228,155
422,445,118
750,252,124
353,957, 524
829, 799, 574
157, 644,988
1,226,898,079
205, 398,202
534, 892,422
343,158,134
185, 560,413
347, 702, 268
57,892, 927
281,375,266
?4, 770,133
212,966,929
16, 576,190
271.460, 658
1HI, 924, 399
117,785,495
81,197, 329
60,103,388
46. 210, 363
36, 201, 032
28, 530, 377
24,053, 296
19, 859,083
62, 982,133
32. 861, 848
19, 260, 051
20,801, 484
10,721,939
6. 316, 876
3, 754,143
2,525,125
1, 766, 404
1,117. 764
2, 696, 300
1, 018, 291
425, 624
244, 959
240.458
146.558
142, 415
59, 396
36, 999
17, 500
Effective
tax rate
(percent)
Under 1 (est.) '
Under 1 (est.)
1-1.5 (est.) i_
1-1.5 (est.)
1.5-2 (est.)»
1.5-2 (est.)
2-2.5 (est.) *
2-2.5 (est.)
2.5-3 (est.) i
2.5-3 (est.)
3-3.5 (est.) i
3-3.5 (est.)
3.5-4 (est.) *
3.5-4 (est.).
4-4.5 (est.) l
4-4.5 (est.)
4 5-5 (est) l
4.5-5 (est)
5-6 !
5-6
6-7 .
7-8
8-9
9-10
_ .
10-11
11-12
12-13
13-14
14-15
15-20
20-25_
25-30
...
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1 500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,0005,000 and over
Classes grouped
2.15
.53
1.17
1.57
_.
1.11
.80
.89
1.05
1.24
-
_ .
._
.
.
- -
. _
. .
.
- .
.
. .
- -
2
14, 650
12, 250
$36,911,233
81, 544
137,710,310
642,118
107,151,477
10, 584, 626
102,075,317
9, 271, 921
234,449, 570
5, 608, 285
166, 656, 533
16, 725, 448
75,906,182
38, 318,819
24, 981, 382
45,100,181
9, 398,095
40, 007,361
5, 226,458
57,197, 498
39,051,572
26, 331, 978
17, 912, 301
13, 279, 602
9,801,682
7, 694, 620
6,033, 923
5, 384, 588
4, 391, 602
13, 080, 257
6, 818, 644
4, 005, 636
4, 338, 466
2,102. 541
1 415 679
727. 679
471. 813
326. 266
207,919
454. 258
185.101
62,100
37, 033
27, 900
11. 967
12,000
9,967
1,600
2,700
2, 400
$3,957,081
580,430
47,720,486
55,473,184
22,160,669
61,069, 798
28, 932,808
34,461, 548
83,023,879
35, 365,070
43,690,120
51. 643.881
18,431, 978
55,077,888
6, 272,291
48, 718.841
2. 720,994
40,165,103
1,849,485
57, 435, 963
42, 509, 969
30, 685, 467
23,228, 822
18, 734, 811
15, 590,858
12,999. 029
10, 903,832
9, 723, 765
8. 261,188
26, 600,938
14.307,872
8, 474.081
9, 287,060
4, 850, 759
2 946 753
1, 704, 629
1,157,175
833,465
541, 596
1, 248, 266
456. 657
196, 389
115,439
98, 253
45, 829
53.496
23, 356
14,133
6,800
4,440
(2)
..
58.02
4,150
3, 750
400
900
4.41
Total....
Nontaxable returns 1
Taxable returns
1.58
1.84
2.30
2.85
3.35
4.18
4.18
4.55
4.90
5.25
6.14
7.88
9.73
12.03
14. 71
17 35
19 92
22.46
24.89
27. 61
32.54
38.89
42.43
44.81
i6. 99
48.94
51.16
53.42
55.33
55.73
(2)
57.'29
(2)
Credit for
dependents
Earned
income
credit
9, 772, 888, 716
8,484, 700,154
1, 288,188, 562
944,357, 524
6.55
6, 025, 248, 639
3, 747, 640, 077
5,124, 782, 082
3, 359, 918, 072
900, 466, 557
387,722,005
258, 759, 791
685, 597,733
1 Nontaxable returns. Specific exemptions from normal tax and surtax exceed net income. A negligible
number of nontaxable returns in net income classes of $6,000 and over is not tabulated separately.
2
Classes grouped to conceal identity of taxpayer.
76
STATISTICS OF INCOME
TABLE 3.—Individual returns for 1935 by net income classes, showing simple and
cumulative distribution of number of returns, net income and tax, and percentages
[Net income classes and moneyfiguresin thousands of dollars]
[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-4]
Returns
Net income classes
Simple distribution
Number
Under 1 (est.)
1-2 (est.)2-3 (est.)3-4 (est.)
4-5 (est.)
6-6
6-7
7-8—.
-—
8-9
9-10
10-11
11-12
__
.
12-13
13-14.
14-15
_..
15-20
20-25—25-30
.
30-40
40-50
50-60
60-70
70-80
80-90
90-100
__.
100-150150-200
200-250
250-300
_
300-400—
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and over
Classes grouped 2_
Total
1
Percent
of total
299,594
, 777, 931
123,699
615, 287
258, 386
132, 642
84, 618
55, 249
38, 546
28, 787
22,320
17, 574
13,995
11,811
9,797
31, 477
16, 590
9,763
10, 690
5,576
3,256
1,948
1.319
923
587
1,395
523
238
137
132
74
80
29
23
8
2
7
1
4,575,012
Less than one-hundredth of 1 percent.
* Classes grouped to conceal identity of taxpayer.
6.55
38.86
24.56
13.45
5.65
2.90
1.85
1.21
.84
.63
.49
.38
.31
.26
.22
.69
.36
.21
.23
.12
.07
.04
.03
.02
.01
.03
.01
.01
0)
0)
0)
0)
0)
0)
0)
0)
C1)
0)
100. 00
Cumulative distribution from highest income class
Number
4,575.012
4, 275,418
2, 497, 487
1,373,788
758,501
500,115
367.473
282,855
227, 606
189, 060
160, 273
137, 953
120. 379
106. 384
94, 573
84, 776
53,299
36, 709
26,946
16, 256
10,680
7,424
5,476
4,157
3, 234
2,647
1,252
729
493
356
224
150
70
41
18
10
Percent
of total
100.00
93.45
54.59
30.03
16.58
10.93
8.03
6.18
4.97
4.13
3.50
3.01
2.63
2.32
2.06
1.84
1.15
.79
.58
.35
.23
.16
.12
.09
.07
.06
.03
.02
.01
.01
.01
0)
0)
0)
0)
0)
8
Cumulative distribution from lowest
income class
Number
299, 594
2,077,525
3, 201, 224
3,816,511
4,074,897
4, 207, 539
4, 292,157
4,347,406
4,385, 952
4, 414, 739
4,437,059
4,454,633
4,468, 628
4,480,439
4,490, 236
4, 521,713
4, 538,303
4,548,066
4, 558, 756
4, 564,332
4, 567, 588
4,569, 536
4, 570, 855
4, 571,778
4, 572, 365
4, 573, 760
4, 574, 283
4, 574, 519
4, 574, 656
4, 574, 788
4, 574,862
4, 574, 942
4, 574,971
4, 574,994
4, 575,002
4, 575, 004
4,575,011
4, 575,012
Percent
of total
6.55
45.41
69. 97
83.42
89.07
91.97
93.82
95.03
95.87
96.50
96.99
97. 37
97.68
97.94
98.16
98.85
99.21
99.42
99.65
99.77
99.84
99.88
99.91
99.93
99.94
99.97
99.98
99.99
99.99
99.99
99.99
99.99
99.99
99.99
99.99
99.99
99.99
100.00
77
STATISTICS OF INCOME
TABLE 3.—Individual returns for 1935 by net income classes, showing simple and
cumulative distribution of number of returns, net income and tax, and percentages—Continued
[Net income classes and money figures in thousands of dollars]
Net income
Net income classes
Simple distribution
Amount
Under 1 (est.)—-
1-2
2-3
3-4
4-5
5-6
6-7
7-8
(est.)
(est.)
(est.)
(est.)
198,900
2, 534,828
2, 831, 583
2,101, 310
1,147. 797
724, 455
546,931
412, 521
326, 653
272.842
233, 831
201, 745
174, 655
159, 202
141. 942
541, 398
369,499
266, 6$5
367, 581
248, 044
177, 664
125,892
98, 453
78,051
55, 713
166. 379
90.054
52, 501
37, 357
45.103
32, 804
48,904
24, 907
27, 518
13, 575
.._.
8-9
9-10
10-11
11-12
12-13
13-14
14-15
15-20
20-25
25-30__
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
_..
300-400
400-500
500-750
750-1,000-..
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 a n d over.—.
Classes grouped 2
Total
2
()
23, 417
(
9,121
_
14, 909,812
Classes grouped to conceal identity of taxpayer.
78020—38
Percent
of total
1.34
17.00
18.99
14.10
7.70
4.86
3.67
2.77
2.19
1.83
1.57
1.35
1.17
1.07
.95
3.63
2.48
1.79
2.47
1.66
1.19
.84
.66
.52
.37
1.12
.60
.35
.25
.30
.22
.33
.17
.18
.09
(2)
.16
()
Cumulative distribution from highest income class
Amount
14,909, 812
14, 710,912
12,176, 085
9, 344, 501
7, 243,191
6,095, 394
5, 370. 939
4,824, 008
4, 411, 487
4, 084, 833
3,811,992
3, 578,161
3,376,416
3, 201, 761
3, 042, 559
2, 900,617
2, 359, 219
1,989, 720
1. 723,036
1. 355,455
1,107,411
929, 748
803, 856
705,403
627, 352
571, 639
405, 260
315,206
262, 706
225,349
180, 245
147,441
98,537
73, 630
46,112
(2)
32, 537
(2)
9,121
100.00 I
Percent
of total
100.00
98.66
81.66
62.67
48.57
40.87
36.01
32.34
29.57
27. 38
25. 55
23. 98
22. 63
21.46
20. 39
19.44
15. 81
13.33
11.54
9.07
7.41
6.22
5.38
4.72
4.20
3. 83
2.71
2.11
1.76
1.51
1.21
.99
.66
.49
.31
()
Cumulative distribution from lowest
income class
Amount
198,900
2, 733, 727
5, 565. 311
7,666, 621
8,814,418
9, 538,873
10,085,804
10,498,325
10, 824.979
11,097,820
11,331,651
11, 533, 396
11,708,051
11,867,253
12, 009.195
12, 550,593
12,920,092
13,186, 776
13, 554,357
13,802, 401
13. 980, 064
14,105.956
14, 204,409
14,282,4X50
14,338,173
14.504.552
14, 594, 606
14,647,106
14, 684, 463
14, 729, 567
14. 762,371
14,811,275
14,836,182
14, 863, 700
14. 877, 275
(2)
14,900, 691
(2)
.06 14,909,812
Percent
of total
1.34
18.34
37.33
51. 43
59.13
63. 99
67. 66
70.43
72.62
74.45
76.02
77.37
78. 54
79.61
80. 56
84.19
86.67
88.46
90.93
92.59
93.78
94.62
95.28
95. 80
96.17
97.29
97.89
98.24
98.49
98.79
99.01
99.34
99. 51
99.69
99.78
(2)
99.94
100. 00
79
STATISTICS OF INCOME
TABLE 4.—Individual returns for 1985 by States and Territories, showing number of
returns and net income by sex and family relationship
[Money figures in thousands of dollars]
States and Territories
Joint returns of husbands, wives, and
dependent children
and returns of either
husband or wife
when no other return is filed
Number
of returns
Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia...
Florida
Georgia
Hawaii.
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
_.
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
_.
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South D a k o t a . - .
Tennessee
Texas
Utah
_.
Vermont
Virginia
Washington 1
West Virginia
Wisconsin
.
Wyoming
Total.
For footnotes, see p. 81.
14,937
6,784
8,948
156, 266
17, 581
37,172
4,979
33, 690
19, 298
25,131
6,598
4,882
156, 048
40, 650
29,235
22,836
18, 750
17, 758
10,160
45, 302
105, 706
83,157
35,054
8,092
53, 561
9,189
17, 327
2,888
7,623
104,966
4,840
380,146
20,026
6,037
107,181
28,181
15, 052
179,139
12, 943
9,366
5,480
22, 764
60,193
8,412
4,408
28, 705
30,314
17, 221
50,581
4,471
2,100,026
Net
income
19,613
30, 848
495,620
63,206
147, 791
19,948
131, 788
76,067
92, 764
24,067
15, 202
632, 554
147, 730
90, 301
73, 889
70,319
54,048
36, 365
176, 289
381, 751
323,189
128, 376
24, 747
200, 313
34, 767
61, 416
9, 016
26, 308
396, 920
13,891
1,469,142
73, 347
15,887
413,158
94,123
54, 902
659, 327
51, 013
31,015
16,557
84, 310
183,037
26, 978
16.137
102,616
92, 560
60, 792
145, 675
14,409
7,656, 773
Separate returns of husbands and wives
Men»
Number
of
returns
469
638
224
11, 447
625
2,852
487
2,294
3,559
950
355
530
7,781
1, 473
861
743
900
1,854
542
2,590
10, 340
2,509
1, 455
293
2,558
247
490
167
429
5,780
387
25, 280
900
132
5,187
1,132
561
8,087
926
327
109
770
7,509
334
216
1,138
2,662
593
2,547
116
124, 355
Women *
Net
income
4,560
2,026
1,787
51,968
8,649
42,161
18,187
17,024
21, 078
11, 260
5,571
1,691
114,148
18, 593
8,100
6,361
9,661
5,596
6,185
25, 334
98, 596
47,249
19, 682
1,774
33,696
1,879
4,893
1,529
4,475
72,135
1,210
411,601
14, 253
727
65, 513
10,128
4,767
116, 822
12, 637
2,683
913
8,204
22, 831
2,399
1,787
12, 435
8,847
6,723
19,888
1,589
1,391,784
Number
of
returns
487
616
226
11,405
702
2,866
403
2,043
930
813
309
540
6,674
1,315
781
590
727
1,898
554
2,581
6,897
2,456
1,240
229
2,040
193
440
159
413
5,437
387
20, 236
809
121
4,313
995
404
6,463
701
287
115
637
7,536
200
179
898
2,599
512
2,079
124
105, 559"
Net
income
2,012
1,897
1,055
45,074
3,762
19,876
6,260
8,603
9,121
5,156
2,176
1,674
41, 228
7,505
2,930
2,343
3,635
5,490
2,820
13,051
38,622
18,856
7,360
887
12, 947
111
1,627
801
2,094
34, 358
1,047
163, 623
5,504
311
26, 762
4, 250
1,774
49, 708
6,303
918
326
3,583
21,999
975
837
5,588
8,153
2,401
7,057
504
615,621
80
STATISTICS OF INCOME
TABLE 4.—Individual returns for 1935 by States and Territories, showing number of
returns and net income by sex and family relationship—Continued
[Money figures in thousands of dollars!
Not heads of families
Heads of families
Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia..
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
-Kansas
Kentucky...
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
Nortli Carolina.
_
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island.
__.
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington i
West Virginia
_
Wisconsin
Wyoming
Total..
For footnotes, see p. 81.
Single women
and married
women not living with husbands
Single men and
married men not
living with
wives
Single women
and m a r r i e d
women not living with husbands
Number of
returns
States and Territories
Single men and
married men
not living
with wives
Net
income
Nurn*
ber of
returns
Net
income
Number of
returns
Net
income
Number of
returns
1,336
487
691
18,050
2,272
6,933
702
3,764
2,023
2,711
957
620
26, 489
4,735
3,554
1,972
3,325
2,384
1,453
5,645
18,191
13,176
4,398
691
8,468
1,488
1,600
362
994
18,838
328
64, 612
1,879
458
22,887
2,364
2,443
26, 906
2,839
911
532
3, 268
4,870
922
964
3,771
4,489
3,520
5, 832
453
3,514
1,175
1,773
45,925
5,460
16, 827
2,648
11,606
5, 718
7,171
2,108
1,311
67, 859
11, 403
7,654
4, 355
7, 768
5,856
3,327
16,061
43,632
30, 319
10,653
1,707
19, 651
3,032
4,040
928
2,241
45, 037
854
173, 436
5,412
985
48, 853
5,941
4,941
65,972
6, 763
2,197
1,166
7,992
12, 929
2,120
2,094
8,779
9,136
7,205
12, 9G0
1,116
1,454
660
1,067
30,813
2,686
10,806
2,619
11, 982
3,672
5,085
1,147
478
32,610
4,355
2,914
2,137
3,728
3,463
1, 556
8,315
22, 541
10,193
4,913
1,125
9,937
1,090
1,599
296
1,384
23, 548
421
97,419
3,467
275
18,985
3,330
2,484
36, 343
3,701
1,161
322
2,794
11,514
750
1,130
4, 838
4, 273
2,450
5,281
333
5,435
3, 243
2,182
82, 811
7,342
27, 292
2,308
21,535
6,329
8,325
2,921
2,853
81, 554
21, 436
13, 483
7, 533
8,853
7, 566
4,465
19, 359
53, 647
48, 270
17, 451
2,428
23, 730
6, 373
5,983
2,080
3,971
46,095
1,685
177,089
6,231
2,147
69,022
6,136
9, 270
96,034
7, 796
3, 250
2,165
8,958
24, 369
2, 459
2, 390
11, 245
16,912
10, 356
26,019
2,828
10,630
2,683
6,000
1,358
4,206
1,323
167, 785 56,933
13,846
3, 544
52,050
18,634
6,081
1,857
39, 732 26, 319
15, 730
4,369
17,142
6,030
5,946
1,632
4,682
903
166, 363 49,738
36,966
10, 391
22,415
7,6rA
13, 883
4,354
17,837
5,136
13,988
4,628
9,419
3,728
41, 596 13,184
113,014 48, 798
92, 067 19, 273
9,984
31,001
1,288
4,274
47, 756 14,443
1, 790
11,463
4,284
11, 799
397
3, 910
3, 349
7,184
87,409 31, 555
1,099
3,229
401,639 137, 230
4,663
13, 254
930
3,457
123, 584 27,827
4,124
12, 785
3, 886
15.213
195, 771 57, 452
5, 904
15. 615
2,076
5, 500
948
3, 703
4. 441
18, 434
50, 454 13,788
1, 240
4,176
2,061
4,158
6,481
23. 229
7,708
33,362
3,598
19,285
41,115 15,095
583
4, 567
312, 557 771,6
587
238
411
11,690
980
4,119
391
5,252
1,218
2,517
400
274
14,905
2,037
1,631
1,021
1,751
1,582
652
3,352
10, 398
3,945
2,080
479
4,814
590
865
120
619
9,208
187
38, 993
1,107
169
8,884
1, 757
1,487
13,327
1,474
486
166
1,271
3,761
447
583
2,154
2, 235
1,136
2,788
115
170,653
409,441 1,033,214 2,068,702
Net
income
4,813
2,361
2,389
121,650
8,960
45,133
5,898
46,196
10,837
11, 493
5,224
1,456
100,018
17, 859
12, 580
7,668
10,957
8,617
8,820
31, 362
110,122
38,070
17, 537
2,238
29,294
3,204
7,118
962
6,978
66, 614
1,958
334,107
8,449
1,351
59, 245
7,459
6,464
128, 919
15,116
3,296
1,568
8,406
26, 743
2, 261
3,849
12, 612
15, 200
7,207
23,606
1,067
1,703 1,415,313
81
STATISTICS OF INCOME
TABLE 4.—Individual returns for 1935, by States and Territories, showing number of
returns and net income by sex and family relationship—Continued
[Money figures in thousands of dollars]
Community property returns 3
States and Territories
Alabama
Arizona
Arkansas
. _
California
Colorado .. .
Connecticut.
Delaware
District of Columbia
Florida
Georgia
Hawaii
_.
Idaho
Illinois _ _
Indiana
_.
Iowa
Kansas
. . .
Kentucky
Louisiana..- __
Maine
Maryland- _
Massachusetts._
_ . _.
Michigan
Minnesota..
Mississippi
Missouri
Montana
_ __
Nebraska
Nevada _
New Hampshire
New Jersey
New Mexico. _
New York
_
North Carolina
North Dakota
Ohio
Oklahoma.. .
Oregon
_ _
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee.
Texas
Utah
Vermont
Virginia - l
Washington
West Virginia
_.
Wisconsin
Wyoming
Total
Estates and trusts
Number
of
returns
Net
income
Number
of
returns
481
4,315
16,209
202, 633
362
3 091
2,302
25,046
256
3,210
307
2,670
8,612
105 825
2,619
25,120
31,148
371,910
Net
income
Grand total
Number
of
returns
Net
income
207
96
80
2,946
429
1,030
244
374
295
225
90
41
2,668
399
579
443
321
151
272
537
3,518
1 013
596
70
756
54
264
14
289
1,610
52
8,490
198
45
1, 587
220
170
2,586
426
123
67
232
809
74
102
443
381
288
844
49
776
251
227
10,836
1,810
5,659
3 119
1,735
2,470
892
663
218
17 054
1, 569
1 633
769
1,197
479
962
4 882
17,049
8 328
3 296
127
4 474
509
620
31
891
11 135
119
55,296
1 193
85
10 428
1 131
762
20, 522
2,492
260
139
1,833
3 832
243
302
1,106
1,272
857
3,009
119
26,141
13 941
14,085
367, 757
33,475
100,898
11,371
95, 271
38,021
46,702
13, 262
11 005
345,857
82, 436
57, 788
39, 492
39, 763
40,123
21 826
92, 550
257,495
173 799
72, 258
13, 570
110 370
19,924
31 253
6, 441
17, 687
223 489
9,272
852,076
35 813
10,039
246 888
44 909
33 273
389,994
33,009
16 826
9 582
42 341
131 447
14,088
10 903
54,835
69,919
37, 224
105, 785
8,739
80,444
38,298
43,351
1,172,303
108, 379
340,303
64, 760
268,667
144, 693
150,963
46,902
29,803
1,171,834
245,980
148, 526
111, 404
125,101
122, 582
69,455
316,888
825, 327
568,270
222,818
36,879
358,068
56,720
93,113
20,681
51, 554
737,155
25,400
3,106,264
124,880
23,077
766, 529
139,148
91, 306
1,273,383
113,641
47,010
24, 694
135, 557
439,163
39,903
30,294
171, 204
197,924
106,920
258, 590
23, 703
36, 797
208, 661
4, 575,012
14,909,812
1 Includes Alaska.
2 An unequal number of separate returns of husbands and wives results from the use of the sample method
for returns with net income of under $5,000 as the net income of one spouse may be $5,000 or over and that
of3 the other spouse under $5,000 (see discussion of sample, p. 2).
See text, p. 6.
82
STATISTICS OF INCOME
TABLE 5.—Individual returns for 1985 by net income classes and by sex and family
relationship, showing number of returns and net income
[Net income classes and money figures in thousands of dollars]
[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-4]
Net income classes
Joint returns of hus- Separate returns of husbands and wives
bands, wives, and
dependent children
and returns of either
husband or wife
Men a
Women *
when no other return is filed
Number
Number
Number of
of reof rereturns Net income turns Net income turns
Under 1 (est.)i.
Under 1 (est.)_.
1-1.5 (est.)1
1-1.5 (est.)_
1,5-2 (est.) 1
1.5-2 (est.)
2-2.5 (est.)i
2-2.5 (est.)
2.5-3 (est.)i
2.5-3 (est.)
3-3.5 (est.)i
3-3.5 (est.)
3.5-4 (est.)i
3.5-4 (est.)..
4-4.5 (est.)i.
4-4.5 (est.).
4.5-5 (est.) 1
4.5-5 (est.)
56i
5-6
6-7
__.
7-8
8-9
9-10
10-11—
11-12
12-13
13-14...
14-15
15-20
20-25
_.
25-30...
30-40
40-50
50-60
60-70
70-80
80-90
90-100...
100-150.
150-200...
200-250
250-300.
300-400.
400-500
500-750
750-1,0001,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and over
Classes grouped *
Total.
Nontaxable returns L.
Taxable returns
For footnotes, see p. 84.
92,023
428
115, 669
1,618
153,028
3,992
252, 444
4,578
444,
279
51. 260
196, 477
113,031
67,419
118,118
19,835
95, 909
7, 587
72,055
4,937
88,484
56, 779
34, 630
22,881
16,282
11,897
9,140
6,958
5,685
4,477
13,083
6,076
3,099
2,900
1,328
632
341
207
138
78
150
54
13
10
3
5
5
1
2
1
55, 006
240
146, 518
2,131
269, 337
7,051
577, 727
10, 377
1, 208, 674
146, 853
628, 42.2
368,824
248, 774
442, 675
83,350
406, 663
35,811
341,323
26,814
483,086
366, 680
258, 317
193, 746
154, 255
124, 600
104, 903
86, 837
76, 594
64,863
224, 342
134,985
84, 404
99,117
58, 883
34, 292
22.056
15,483
11,653
7,433
17, 651
9,415
2,958
2,808
1,041
2,169
2,954
0)
(4)
4,974
1,185
4,526
1,512
4,381
3,799
4,397
4,482
8,034
4,957
2,458
5,416
1,144
6,078
636
5,635
513
4,801
493
5,278
5,191
4,541
3,758
3, 295
2,837
2,357
2,051
1,936
1,672
6, 252
3,891
2,659
3,261
1,799
1,211
713
507
344
251
616
212
98
57
54
29
32
16
5
4
1
5
1
2,936
671
5,635
1,957
7,573
6,743
9,988
10,105
21, 897
13,698
7,903
17,641
4; 266
22,805
2,684
23, 879
2,424
22, 794
2,694
28,987
33,714
33,985
31,910
31, 288
29,772
27,083
25, 603
26,108
24, 224
108,144
4,675
86,772
72, 744
112,403
80,156
46,031
37,851
29,079
23,766
73.479
36, 693
21, 780
15,446
18,481
12,680
19,321
13.480
5,947
7,000
(4)
*
()
9,650
8,600
7,057
5,973
3, 564
6,859
2,378
6, 363
1, 757
5,702
1,387
5,287
901
5,252
600
4,693
443
3,996
374
3,665
3,094
2,336
1,833
1,503
1,254
1,053
882
769
685
2,459
1,421
867
1,052
626
342
211
175
96
56
162
75
41
12
22
14
Net
income
5,117
4,632
8, 570
7,558
6,149
11,958
5,305
14, 296
4,811
15, 656
4,498
17,124
3,364
19,677
2,541
19,880
2,103
18,958
2,037
20,076
20,019
17,490
15, 552
14, 241
13,126
12,086
11,016
10, 363
9,929
42,344
31, 634
23,681
36, 227
27, 819
18,861
13, 670
13,036
8,095
5,339
19, 231
12,854
9, 226
3,220
7, 572'
6,329
5,025
3,376
3, 236
()
6,714
23,474
2,100,026
7,656,773
124,355
1,391,784
105, 559
615,621
1,353, 698
746,328
3, 280, 435
4,376,338
31, 556
92,799
67,999
1,323,785
28, 111
77,448
44,496
571,125
83
STATISTICS OF INCOME
TABLE 5.—Individual returns for 1935 by net income classes and by sex and family
relationship, showing number of returns and net income—Continued
[Net income classes and money figures in thousands of dollars]
Heads of families
Net income classes
S i n g l e men and Single women and
married women
married men not
not living with
living with wives
husbands
Number of
returns
Under 1 (est.) 1
Under 1 (est.)
1-1.5 (est.)i
1-1.5 (est.)1.5-2 (est.)i
1.5-2 ( e s t . ) . - . .
2-2.5 (est.)i
2-2.5 (est.)
2.5-3 (est.)i
2.5-3 (est.)
3-3.5 (est.)i
3-3.5 (est.)
3.5-4 (est.)i
3.5-4 (est.)
4-4.5 (est.)i
4-4.6 (est.)
4.5-5 (est.)i
4.5-5 (est.)
5-6i
5-6
6-7
7-8
-
__
9-10.
10-11-,
11-12
12-13
13-14.._
14-15
15-2020-25
25-30
30-40
_
40-50
50-60
60-70
70-80
80-90.
90-100
100-150
150-200
200-250
250-300.
300-400
400-500.
500-750.
750-1,0001,000-1,500.
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and over
Classes grouped 4_.
Total
Nontaxable returns i.
Taxable returns
For footnotes, see p. 84.
Not heads of families
Net income
Number of
returns
10,087
8
86, 635
102
82,177
288
52,029
404
27,800
2,340
10,018
5,385
2,826
5,804
879
4,859
406
3,523
251
4,357
2,972
1,927
1,377
976
779
608
472
414
319
1,052
498
294
284
129
86
55
35
25
15
38
12
5
1
3
2
1
6, 800
5
110, 510
137
141,906
507
115, 675,
892
75, 393
6,668
31,943
17, 631
10,430
21,716
3,692
20, 573
1,920
16, 683
1,367
23, 801
19, 229
14,406
11,686
9,257
8,162
6,992
5,882
5,574
4,626
18,022
11,123
8,010
9,739
5,719
4,670
3,554
2,597
2,125
1,418
4,610
2,033
1,080
(4)
1,025
7,710
18
70, 525
149
43, 816
197
18, 423
150
7,802
545
3,165
1,499
1,507
1,643
744
1,345
480
1,210
616
1,589
1,549
1,025
767
599
478
392
344
261
225
717
366
224
217
130
64
35
31
21
11
28
17
Net income
Number
of returns
5,382
10
82, 379
225
206,159
255, 957
26,484
225, 893
5, 534
98,945
2,231
43,145
1,279
21, 541
865
13, 226
708
8,700
530
6,095
48
7,656
5,119
3,571
2,616
1,959
1,698
1,249
1,030
855
734
2,410
1,296
776
827
467
267
187
121
100
64
125
64
26
20
12
5
9
3
4
186
74, 938
341
40, 895
339
21, 23,1
1,546
10,104
4,904
5,6.19
6,170
3,153
5,715
2, 267
5,717
3,362
8,680
10,046
7,655
6,503
5,674
5,000
4,494
4,284
3,522
3,254
12,338
8,168
6,127
7,445
5,804
3,481
2,257
2,315
1,769
1,042
3,413
2,962
691
2,376
1,346
2,823
1,821
Single men and Single women and
married women
married men not
not living with
living with wives
husbands
Net income
£9, 301
119
234,197
332, 674
44, 374
389, 375
12,229
218, 276
6,073
117,318
4,106
69, 303
3,221
49, 274
2, 995
36,824
2,520
28, 925
258
41,869
33,117
26, 728
22,199
18, 568
17, 785
14, 330
12,860
11,539
10, 648
41,492
28,971
21, 246
28,486
20,941
14,585
12,128
9,006
8,476
6,051
15,131
10,792
5, 715
5,415
4,060
2,199
5,474
2,873
4,653
Number of
returns
71,979
220
167,064
158,375
20,756
111,579
7,772
39,017
4,837
17,760
2,882
9,830
2,147
6,215
1,539
4,410
1,251
3,350
126
5,762
3,916
2,912
2,249
1,777
1,374
1,194
992
911
763
2,630
1,495
936
1,043
566
324
183
125
94
52
152
53
27
21
21
9
11
Net income
53, 727
126
190, 752
205,826
35,066
190, 276
17,344
86,105
13, 230
48,381
9,341
31,708
8,019
23,240
6,524
18,712
5,917
15,876
667
31,514
25,343
21,772
19,066
16,851
14,406
13, 708
12,385
12, 277
11,057
45,300
33,365
25,603
35,883
25,198
17,678
11,811
9,369
7,942
4,933
18,009
9,128
5,965
5,859
7,017
4,018
6,899
2,118
5,487
312, 557
771,608
170,653
409,441 1,033,214 2,068,702
660,703 1,415,313
273,108
39,449
499, 635
271,973
154, 788
15,865
255, 555
153,886
340, 589
280,353
380,350 1,074,724
369,275
326,217
706,997 1,699,427
84
STATISTICS OF INCOME
TABLE 5.—Individual returns for 1935 by net income classes and by sex and family
relationship, showing number of returns and net income—Continued
[Net income classes and money figures in thousaiids of dollars]
Community property returns 3
Estates and trusts
Number
of returns
Number
of returns
Net income
Number of
returns
10,108
4,825
288,910
10,684
660,160
427,115
335, 505
355,151
343,618
155, 829
497, 253
126,999
218,080
162,963
77,059
157,185
25,171
126, 270
11,396
95,549
6,970
125, 672
84, 618
55, 249
38, 546
28,787
22,320
17, 574
13, 995
11,811
9,797
31,477
16,590
9,763
10, 690
5,576
3,256
1,948
1,319
923
587
1,395
523
236
137
132
74
80
29
23
8
2
7
1
193,095
5,804
787,819
554,732
581, 579
610, 698
780, 605
344, 615
1,352,712
353, 651
697, 649
530,307
284, 626
588, 729
105, 913
535, 292
53,842
452, 749
37,866
686, 589
546,931
412, 521
326, 653
272, 842
233,831
201, 745
174, 655
159, 202
141,942
541, 398
369,499
266, 685
367, 581
248,044
177, 664
125,892
98, 453
78,051
55, 713
166,379
90,054
52, 501
37,357
45,103
32,804
48,904
24,907
27, 518
13, 575
Net income classes
Under 1 (est )i
Under 1 (est.)
1-1.5 (est )i
1-1.5 (est.)
1.5-2 (est.V
1.5-2 est.)
2-2.5 est.)i
2-2.5 est)
2.5-3 est.U
2.5-3 (est)
3-3.5 (est.)i
3-3.5 (est.)
3.5-4 (est )i
3.5-4 (est.)
4-4 5 (est )i
4-4.5 (est.)
4.5-5 (est )i
4.5-5 (est.1)
5-61.
5-6
6-7
7-8
8-9
9-10
10-11
11-12....
12-13 .
Net income
_ _
...
14-15.
15-20.
20-25
25-30
30-40..
40-50
50-60....
60-70
70-80 .
80-90
_
90-100
100-150
__
150-200...
200-2.c 0
250-3C 0
300-4C 0 .
400-5CX)___
500-750.
750-1,000
1,000- 1,500
1,500- 2,000
_
2,000- 3,000
3,000- 4,000
4,000- 5,000
5,000 and over
Class es grouped 4
Total
Nontaxablft returns l
Taxalble returns
108
7,599
5,004
3,557
2,442
1 871
1,565
1,218
952
731
722
2,070
1,085
614
708
310
209
120
61
65
41
50
14
13
4
4
2
5
2
2
580
41,560
32,346
26,564
20, 701
17, 728
16, 394
13, 987
11,873
9,871
10,446
35, 570
24,105
16, 847
24, 493
13, 741
11,388
7,712
4,554
5, 522
3,911
6,022
2,405
2,821
1,080
1,378
835
3,037
1, 751
2,688
2,525
3,429
1,299
2,544
641
1,890
513
1 290
414
974
250
849
230
719
186
519
17
1,282
994
750
623
525
438
363
314
249
200
804
462
294
398
221
121
103
57
40
19
74
22
10
12
6
5
8
2
3
1
3,035
4,263
2,235
4,447
1,441
4,226
1,401
3,530
1,332
3,171
932
3,172
973
3,045
881
2,474
88
7,015
6,438
5,604
5,291
4,979
4,586
4,161
3,915
3,354
2,894
13,846
10,376
8,023
13,787
9,782
6,624
6,674
4,242
3,390
1,819
8,833
3,770
2,264
3,256
2,154
2,336
4,929
(4)
3,899
(4)
Grand total
Net income
23,417
9,121
4,952
31,148
371, 910
36, 797
208,661
4, 575,012
14,909, 812
108
31,040
580
371, 330
16,183
20, 614
17,142
191,519
2,464,122
2,110,890
4,875, 706
10,034,106
' Nontaxable returns. Specific exemptions from normal tax and surtax exceed net income. A negligible
number of nontaxable returns in net income classes of $6,000 and over is not tabulated separately.
2
An unequal number of separate returns of husbands and wives results from the use of the sample method
for returns with net income of under $5,000, as the net income of one spouse may be $5,000 or over and
that of the other spouse under $5,000 (see discussion of sample, p. 2).
3
See text, p. 6.
4
Classes grouped to conceal identity of taxpayer.
85
STATISTICS OF INCOME
TABLE 6.—Individual returns for 1935 by States and Territories, showing sources
of income and deductions, and net income
[Thousands of dollars]
[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-41
Sources of income
States and Territories
Alabama . _
Arizona..
Arkansas
California
Colorado
__
Connecticut
Delaware
District of Columbia _.
Florida
Georgia. . _
Hawaii
Idaho .
Illinois
Indiana
Iowa. _
Kansas.
...
Kentucky
Louisiana
_
._
Maine
Maryland
Massachusetts
Michigan
Minnesota
MississiDDi
...
Missouri
. _ _
Montana
Nebraska
Nevada
New Hampshire
New Jersey .
._
_ _.
New M~exipo
New York
North Carolina
North Dakota
._
Ohio
Oklahoma
Oregon __ . .
__ . __
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
. . .
Texas.- .
_ _.
Utah
Vermont
_
Virginia
Washington 6
West Virginia
Wisconsin
Wyoming
Total
For footnotes, see p. 87.
Salaries,
wages, com- Business
profit
missions,
fees, etc.
PartnerNet capi2
ship
profit i tal gain
Divion
Rents dends of
stock
and
domestic
royalties corporations
56,935
24,149
28, 290
729, 587
63, 232
202, 213
26,009
217, 324
78, 200
110,939
28,178
18,083
839, 493
177,181
95, 312
67, 034
82,316
82, 612
37, 360
213.018
523, 376
406, 201
148, 898
26, 211
254. 737
38, 675
60, 790
12,617
29. 3fi3
512, 265
15 533
1 985 213
86, 2S9
17,616
549,188
96, 809
64, 323
844, 697
69, 780
34 510
16, 143
99, 639
253,187
30, 132
19, 929
121, 293
134, 992
76, 589
179,424
14, 686
12,336
8,624
9,428
186, 308
17,891
30,901
4,234
22,182
22, 699
18,089
4,998
8.221
124, 079
34, 589
35, 773
27, 381
17, 492
18, 650
11, 056
28, 354
86. 947
68, 662
34, 913
8,340
38,459
12, 284
20, 291
3, 301
8,293
73, 795
6 345
293 748
16, 703
5, 205
91, W6
24, 415
17,179
147, 054
10, 233
8, 416
5, 738
18,039
86, 584
6,421
4, 327
21, 835
38, 306
13,460
35, 861
5, 413
6,993
2, 323
4,296
68, 543
5,834
9, 594
1,360
6,244
6,693
7,821
992
2, 252
55,864
12, 762
9,218
7,271
6, 516
8,154
2,022
11,674
32,156
18, 061
11,791
3,454
15,976
3, 281
6,262
1, 245
1, 623
21, 687
1 692
197, 690
6,468
1, 271
27, 357
9, 2!8
5, 326
51.986
2, 905
2 725
1, 353
8, 078
39, 847
1, 679
1,109
6, 628
8,260
4,178
8, 786
1,301
1,419
842
651
39, 557
3,918
11, 999
3,163
4,401
6,025
3,979
860
779
39, 502
5,652
2,848
2,663
3,929
3,881
2,053
9,872
25. 937
25,183
6,001
783
9,276
666
1,538
596
1,297
21.944
479
148, 248
2, 556
202
21. 668
4,779
1,417
38,178
2,568
917
All
2, 756
25,019
972
599
4, 338
4,444
2,382
6,123
382
4,611
2,223
3,764
71,914
4,951
9,950
1,168
10, 920
8,386
7,092
1,995
1,128
41, 757
10,178
8,113
11, 235
5,843
9,750
2, 504
11,356
17,913
20, 285
6, 926
2,612
15, 761
1, 865
5,155
725
1, 958
18, 361
1,691
63, 310
7,699
910
27, 767
13, 608
3, 529
36, 260
3,326
2,671
1,293
6, 364
50, 765
1, Io4
792
7, 690
7, 089
5, 289
9,444
1,032
6,116
3,008
3,060
144,831
18,184
89, 277
34,180
18, 639
31, 226
18,934
12, 422
1,535
140, 949
28,101
13.224
7,836
18, 917
11,411
13,148
46, 962
165, 300
85, 933
28, 569
2.667
52, 729
2,941
6,612
3,661
10,487
115, 354
1,540
560, 071
26, 609
971
112,077
11,114
5, 598
201, 596
26, 298
4,009
1,967
15,100
39,919
3, 790
3,948
24, 983
14,670
13, 914
28,114
2,222
9,900, 578
1,855, 019
739, 822
509, 714
572,060
2, 234, 727
86
STATISTICS OF INCOME
TABLE 6.—Individual returns for 1985 by States and Territories, showing sources
of income and deductions, and net income—Continued
[Thousands of dollars]
Sources of income—Continued
States and Territories
Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia.
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
._
Michigan.__
_
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
_Oregon
Pennsylvania
Ehode Island
South Carolina
South Dakota.Tennessee
Texas
Utah
Vermont.
Virginia
Washington 6
West Virginia
Wisconsin.
Wyoming
Total
For footnotes, see p. 87.
Taxable
interest
on parIncome tially tax- Other
taxable4
from fidu- exempt
1
(
ciaries
Govern- interest
ment obligations 3
1,412
522
618
22, 852
1,696
9,345
1,909
5, 537
4,860
2,018
1,293
198
18,199
1,949
1,739
1,320
2,149
966
2,115
10, 926
20, 100
6,744
3,714
365
6,221
629
740
250
1,129
16, 606
319
97,135
1,374
137
11,082
1,646
1,114
43, 343
3,400
725
122
2,202
7,497
404
619
3,146
1,916
1,258
3,092
325
328,978
119
85
120
2,273
523
810
105
615
516
245
110
32
2,975
1,163
247
373
681
482
339
1,067
1.998
1,425
788
54
1,415
116
161
105
108
1,526
45
9,594
375
21
4,225
675
188
3,944
412
173
25
251
1,296
47
63
533
364
409
541
43, 820
Other
income
5,147
5,858
7,148
8, 653
20, 753
66, 539
19, 809
14,011
1,692
19,447
1.779
4,908
840
4,117
56, 574
1,249
235, 278
2,682
997
24,495
4,339
4,795
86, 305
10, 296
2,303
896
4,378
18, 928
1,590
2,424
7,579
7,290
2,206
27, 311
1,050
1,080
1,079
1,099
19, 215
1,952
5,056
1,249
3,265
3,226
2,019
954
696
15, 295
3,475
2,281
3,164
2,133
2,729
1,924
7,298
9, 369
7,611
3,366
743
4,640
978
1,469
494
842
11,715
617
47, 359
2,413
479
7,893
3,339
1,567
17,165
1,617
852
561
1,756
11,831
553
497
2,373
3,314
1,360
4,874
451
900, 501
231, 286
3,969
1,843
1,837
67, 308
8,257
23, 576
3,580
11, 734
10, 388
4,502
1,326
1,017
62,449
6,411
Total
income
94, 989
44, 704
53,183
1, 352, 388
126, 439
392, 721
76, 958
300, 860
172, 218
175, 639
53,128
33, 942
1, 340, 562
281, 460
177, 393
133,423
145,833
145, 783
81,173
361, 281
949, 636
659, 915
258, 977
46,921
418, 660
63, 213
107,92b
23,833
59, 221
849,829
29, 509
3, 637, 647
153,168
27,810
876,918
169, 942
105,037
1,470, 528
130, 834
57, 301
158, 563
534,874
46, 742
200,399
220, 630
121,044
303,570
26,925
17,316,505
87
STATISTICS OF INCOME
TABLE 6.—Individual returns for 1935 by States and Territories} showing sources
of income and deductions, and net income—Continued
[Thousands of dollars]
Deductions
States and Territories
Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
_Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Ehode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
"Washington 6
"West Virginia
"Wisconsin
Wyoming
Total
Business
loss
380
380
270
6,957
699
799
501
521
840
903
273
141
4,914
986
848
898
874
658
380
1,198
2, 564
3,021
922
421
1, 623
292
495
147
242
2, 005
212
11, 737
660
235
2,366
1,239
408
6,036
598
392
189
618
4,121
126
148
1,041
772
363
857
184
67,453
Net
PartTaxes
nership capital Interest paid*
loss 2 paid
loss l
123
49
153
2,474
176
301
25
133
301
190
91
30
1,863
353
229
303
174
288
103
193
547
732
242
66
304
56
147
20
35
610
40
7, 706
99
35
717
284
112
1,789
96
47
36
172
1,648
26
29
183
169
127
186
63
710
381
309
12, 869
1,038
4, 707
496
1,582
1,567
1,103
357
204
11, 272
1,620
991
733
1,169
1,237
991
3,145
11, 034
4, 864
1,992
184
3,282
278
546
146
653
6,739
133
36, 372
786
195
5, 622
899
858
12,109
1,315
354
141
1,007
2,966
310
242
1,156
1,367
598
2,976
123
3,513
1,112
1,689
38, 893
2, 695
13, 588
4,302
8, 714
4,852
5,631
1,972
576
33. 569
6,446
4, 845
3,487
4, 592
4,430
2, 315
9,683
22, 302
18, 863
5,986
1,441
13, 819
981
2,949
404
1,481
26,117
601
106, 332
6,011
555
26, 063
5,272
2,531
51, 034
3,584
1,750
594
5,306
17,178
1,150
802
7,339
4,768
3,915
9,149
569
3,220
1,416
1,727
38, 665
4,060
13, 305
2,676
7,274
6,438
5,880
1, 673
910
33,672
9, 633
7, 339
5, 403
5,114
5,321
3, 293
10, 032
45, 982
20, 227
9,527
2,113
14, 854
1, 540
3,178
487
2,517
31, 038
742
147,053
6,337
997
27, 589
5,894
3,901
43,023
4,850
2,451
1,008
4,830
Contributions
Other
deductions
Total
deductions
1,760
412
1,054
14, 471
1,805
7,766
1,880
4,710
4,838
2,657
4,611
65, 755
7,586
11,953
2, 338
9,258
10, 924
7,749
1,219
1,965
62, 025
12, 225
11,605
9,091
5,800
9,310
3,095
14, 576
24, 712
35, 610
12, 755
4,692
18,417
2,756
5,741
1,673
1,815
30, 715
2,093
147, 641
9,792
2, 266
32,481
14,512
4,891
51,936
4,088
3,714
1,531
7,958
43, 853
2, 915
1,064
7,716
8,667
4,368
13, 794
1,444
14, 545
6,406
9,812
180,084
18,060
52, 418
12,198
32.193
27, 524
24, 676
6,226
4,138
168, 728
35, 480
28, 867
22,019
20,732
23, 201
11,718
44, 393
124, 308
91, 645
36,159
10, 042
60, 592
6,494
14,813
3,152
7,668
112,674
4,110
531, 383
28, 288
4,733
110, 390
30, 794
13, 731
197,145
17.194
10,291
3,875
23,006
95,711
6,839
4,014
29.195
22, 707
14,124
44,979
3,221
2, 603
3,221
641
312
21,413
4,217
3,009
2,104
3,008
1,958
1, 542
5, 565
17,167
10, 329
4,755
1,126
8,293
592
1, 757
275
923
15, 450
288
74, 542
4,602
451
15, 551
2,694
1,028
31,219
2, 663
1,583
377
3,114
18,191
7,754
1,489
824
1,099
631
7,027
4,733
4,969
1,996
2,868
1,884
13,170
4,847
560
277
23,876 145,728 503,730 596,559 305,155 764,191
Net
income
80,444
38, 298
43,351
1,172, 303
108, 379
340, 303
64, 760
268, 667
144, 693
150,963
46, 902
29, 803
1,171,834
245, 980
148, 526
111,404
125,101
122, 582
69,455
316,888
825, 327
568, 270
222,818
36,879
358, 068
56, 720
93,113
20, 681
51, 554
737,155
25,400
3,106, 264
124, 880
23,077
766, 529
139,148
91, 306
1, 273, 383
113,641
47,010
24,694
135, 557
439,163
39,903
30, 294
171,204
197,924
106, 920
258, 590
23, 703
406,693 14,909,812
1 For explanation of item, see p. 8.
2
For explanation of changes in 1934 Act affecting net capital gain and net capital loss, see text, pp. 7-8,
and synopsis of laws, pp. 138-139.
3 Interest received on Liberty 4 and 4J4 percent bonds, United States savings bonds, and Treasury
bonds, owned in excess of $5,000, and on obligations of certain instrumentalities of the United States (see
items 9 and 25, Form 1040, p. 146) reported on returns with net income of $5,000 and over.
4
Includes taxable interest on partially tax-exempt Government obligations reported on returns with net
income under $5,000.
5
Excludes amounts reported in schedules A and B as business deductions.
• Includes Alaska.
88
STATISTICS OF INCOME
TABLE 7.—Individual returns for 1935 by net income classes, shotving sources of
income, deductions, and net income; also total number of returns and, for returns
with net income of $5,000 and over, number of returns for each specific source of
income and deduction
[Net income classes and money figures in thousands of dollars]
[For text defining certain items and describing methods of tabulating and estimating data, see pp. 1-4]
Sources of income
Net income classes
Salaries, wages,
Total
commissions, fees,
etc.
number
of returns
Number
Amount
of returns
Under 5 (est.)
4,074,897
5-6
132,642
6-7.
84, 618
7-8
55,249
8-9
38, 546
9-10
28, 787
10-11
22,320
11-12
17, 574
12-13 ._
13,995
11 811
13-14
14-15
9 797
15-20
31,477
20-25
16 590
9,763
25-30
30-40
10, 690
40-50
5 576
3,256
50-60
60-70
1 948
1 319
70-80
,
80-90
_
923
587
90-100 1,395
100-150
523
150-200
236
200-250
137
250-300
132
300-400
74
400-500
_
500-750 _ _
80
29
750-1,000
1,000-1,500
23
1 500-2 000
8
2
2,000-3,000
7
3 000-4 000
1
4 000-5 000
5,000 and over..
Classes grouped s . . .
Total
91, 687
57,132
36, 483
24, 827
18, 477
14, 053
10, 897
8,619
7 260
5,958
18, 753
9,781
5, 673
6,208
3 141
1,897
1 094
760
536
359
807
315
129
79
70
32
40
17
11
6
4
1
Business profit
Number of Amount
returns
1,167,552
7,191,699
124, 942
473,114 26,430
91, 632
336, 787 16,766
67,458
243, 257 10, 788
52,213
183,006
7,364
40,150
149, 497
5,279
3,909
32,800
122, 274
3,013
27, 551
102,458
2,324
22, 527
85, 060
19, 753
76, 752
1 896
1,570
17, 027
65, 743
4,548
57, 084
233,026
2 175
34, 042
144, 925
1,177
22,278
97, 073
1,121
25, 206
120, 601
553
15, 395
72, 762
9,542
275
49, 401
6, 578
30 814
161
116
4,933
22, 574
3,252
69
18, 243
46
2, 260
13, 041
73
4,840
31, 645
1,997
28
15, 781
13
1, 020
7, 038
9
1,063
4,541
2
7
4 599
5
467
1, 743
o
1 357
61
1
356
861
1
404
1,036
282
219
Partnership
profit l
Net capital gain a
Number
Number of Amount of re- Amount
turns
returns
11,467
8,178
5,770
4,038
3,791
2,692
2,135
1,776
1 509
1,321
4,425
2 553
1,529
1, 751
924
572
341
252
167
110
275
91
42
25
29
4
7
6
2
208,202
45,567
38,124
30, 061
24, 324
21,171
20,898
17,117
15, 235
14,158
13,439
51, 274
38,417
27,496
38, 663
25, 813
19, 745
13, 656
10,867
9,318
5,851
20, 922
9,660
5,850
3,879
5,366
563
1,574
1,899
716
20,351
15,412
11,342
8,839
7,061
5,868
4,852
4,146
3,594
3,113
10, 672
6,196
3,921
4,524
2,524
1,541
885
656
465
299
712
258
121
75
67
41
43
17
13
4
2
3
(7)
4, 575,012 9 325,106 9, 900,578 9 89,714 1,855,019 9 55,782 739,822 9117,617
For footnotes, see p . 92.
109,796
22,850
20,145
17,672
15,307
14,087
12, 672
11,527
10, 645
9,986
8,926
37, 703
27,308
21, 545
32, 235
22,164
17,348
12,419
10, 086
7,794
5,939
15, 969
7,048
3,677
4,149
5,105
4,077
7,634
5,100
5,902
521
160
2,218
509,714
89
STATISTICS OF INCOME
TABLE 7.—Individual returns for 1935 by net income classes, showing sources of
income, deductions, and net income; also total number of returns and, for returns
with net income of $5,000 and over, number of returns for each specific source of
income and deduction—Continued
[Net income classes and money figures in thousands of dollars]
Sources of income—Continued
Dividends on stock
Rents and royalties of domestic corporations
Net income classes
Number
of returns
Under 5 (est.)
5-6
6-7
7-8
8-9
9-10
10-11
11-12
12-13
13-14
14-15
15-20
20-25
__.
25-30
30-40
40-50
50-60
60-70
70-80
80-90
g0-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000 .
3,000-4,000
4,000-5,000
5,000 a n d over
Classes grouped
Total
.
(6)
25, 022
16, 737
11,067
7,928
6,065
4,726
3,840
3,085
2,624
2,150
6,957
3, 780
2,282
2,437
1, 304
795
465
293
207
139
338
122
68
37
26
21
24
16
11
2
1
2
_
_ .
_
8
Amount
373,850
28,016
21, 536
15,416
12, 712
11, 503
8,842
7,867
6,166
5,590
4,983
19,108
12, 765
8,643
10, 458
6,767
4,407
2,946
1, 764
1 585
1,087
2,512
1,204
733
639
61
495
233
112
37
2
15
Number
of returns
(6)
63,308
45, 811
32,117
24, 304
18, 887
15, 401
12, 566
10, 315
8,899
7,454
25,126
13, 896
8,579
9,540
5,099
3 030
1,824
1,261
882
556
1,353
516
231
132
128
73
79
29
23
8
2
7
1
420, 543
76,136
69,150
59,831
53, 966
48, 854
45,038
42, 080
40,060
36,489
35, 019
149, 400
113, 925
94, 097
145, 515
108,826
81, 867
64, 838
50, 302
40, 767
29,062
99, 767
61,081
37, 608
27, 299
33, 748
29, 666
43, 801
20,107
22, 140
15, 771
» 311,437
2, 234, 727
6
9102, 571
For footnotes, see p. 92.
572, 060
Amount
Income from fiduciaries l
Taxable interest
on partially taxexempt Government obligations 3
Number
of returns
Number
of re- Amount
turns
(6)
8,119
6,201
4,430
3,558
2,781
2,272
2,015
1,725
1,512
1, 330
4,657
2,641
1,726
2, 020
1,158
698
444
273
197
123
296
106
47
27
33
20
25
8
6
1
1
Amount
96,654
16,846
14,835
12, 546
11,091
9,405
8,468
7, 659
7,305
6,699
6,466
26, 405
17, 735
13, 545
18, 730
12, 810
8 939
5,668
4,717
3 366
2, 349
6,798
2,873
1, 634
' 491
1,512
1,569
1,025
199
550
46
28, 207
9,766
(10)
5,737
4,484
3,450
2,760
2,345
1,939
1,683
1,496
1,336
1,167
4,211
2,600
1,717
2,028
1,164
677
439
280
224
140
312
120
58
39
32
20
22
4
7
1
1
1
1
45
9 48,450
328,978
3,191
2,703
2,241
2,028
1 821
1,648
1,584
1,458
1,313
1,120
4 907
3,576
2,656
3,679
2,719
1 504
l'053
1,151
662
430
807
508
458
245
143
15
158
11
3
19
(7)
(8)
5
40,495
43,820
90
STATISTICS OF INCOME
TABLE 7.—Individual returns for 1935 by net income classes, showing sources of
income, deductions, and net income; also total number of returns and, for returns
with net income of $5,000 and over, number of returns for each specific source of
income and deduction—Continued
[Net income classes and money figures in thousands of dollars]
Sources of income—Continued
Other taxable
interest
Net income classes
Business loss
Other income 4
Total income
ii 452,479
44,927
36, 636
29,707
24, 720
21,987
18,826
16,485
14,976
13, 670
12,087
47, 671
32, 518
23,310
29,958
19, 338
13,334
8,017
7,174
4,484
3,722
9,016
3,955
2,463
1,606
1,800
1,281
2,125
472
741
178
108,052
11, 572
9,113
7,057
5,721
4,863
4,489
3,538
3,166
3,125
2,867
10, 568
7,911
5,683
8,801
5,175
3,814
3,166
2,934
1,905
1,569
4,282
2,493
1, 365
785
1,466
1,872
1,717
380
887
489
10,128,827
847,160
640, 659
485, 244
385,087
323,340
275,955
237, 866
206, 599
187, 533
167,676
637,145
433,123
316, 327
433, 846
291, 769
209, 901
149,155
116, 501
91, 375
65, 310
196,559
106, 599
61, 846
44, 695
53,805
41, 749
59, 685
29,497
32,416
17, 308
493
449
29, 543
(8)
Number
of returns Amount
Under5(est.)
5-6
6-7
7-8
. _
8-9
.
9-10
10-11
11-12
12-13
13-14
14-15
15-20
20-25
-25-30
30-40
40-50
50-60
_.60-70
70-80
80-90
90-100
- 100-150
150-200
200-250
250-300
300-400
400-500
.-500-750
750-1,000
1 000-1 500
1,500-2,000
2 000-3 000
3 000-4 000
4 000-5 000
5,000 and over
Classes grouped 8
54,245
37,157
26,767
19,435
14, 544
11, 767
9,593
7,927
6,785
5,741
19,322
10, 735
6,614
7,803
4,074
2,937
1,496
765
750
471
1,160
449
207
112
115
67
67
27
22
6
2
7
1
_
_
—
--
Total
349
9 251,170
For footnotes, see p. 92.
Deductions
13
900, 501
231, 286
Partnership
loss i
Number
Numof reAmount ber of Amount
turns
returns
2,129
1,386
1,029
755
609
531
408
375
331
300
983
603
374
477
286
192
111
87
66
41
102
54
22
14
13
12
11
11
4
2
1
4
12,403
17,316, 505 9 11, 323
33,740
3,072
2,101
1,914
1,235
1,364
1,302
1,011
965
786
942
3,060
2,247
1,550
2,287
1,543
1,084
901
616
484
354
1,062
615
487
294
330
432
264
224
73
115
855
1,149
845
592
471
324
271
279
185
174
159
523
304
202
244
149
83
49
34
30
13
60
16
13
3
7
3
1
1
1
1
142
67,453
10,763
1,252
998
817
694
405
423
399
380
295
284
1,236
706
1,860
864
742
469
167
295
132
18
250
73
274
36
17
13
1
6
6
9 6,186
23,876
91
STATISTICS OF INCOME
TABLE 7.—Individual returns for 1935 by net income classes, showing source of
income, deductions, and net income; also total number of returns and, for returns
with net income of $5,000 and over, number of returns for each specific source of
income and deduction—Continued
[Net income classes and money figures in thousands of dollars]
Deductions—Continued
Net capital loss 2
Net income classes
Interest paid 5
Number
Number
of re- Amount of returns
turns
Under 5 (est.)
5-6. _
6-7.
7-8....
8-9
9-10
()
12,054
9,047
6,591
5,234
4,295
3,466
2,908
2,493
2,135
1,799
6,232
3,463
2,266
2,598
1,416
851
548
346
243
169
414
161
77
42
40
24
22
11-12
12-13
14r-15
15-20
20-25
25-30
30-40
40-50.
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750_ _
750-1,000—.
-.
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 a n d over
Classes grouped 8_.
Total
76, 747
9,799
7,579
5,951
4,875
4,219
3,367
3,042
2,628
2,250
2,012
7,032
4,114
2,797
3,364
1,827
1,137
776
476
356
235
567
231
117
63
62
37
38
12
12
29, 437
21, 090
15, 807
12, 220
9,835
7,814
6,656
5,552
17,959
9,681
5,910
6,667
3,496
2,083
1,262
874
612
413
993
373
162
99
91
61
61
24
20
5
2
4
1
31, 204
23, 561
17, 974
14, 592
11,798
9,918
8,371
7, 350
6,762
6,139
21, 608
14,023
9,858
13, 754
8,831
6,532
4,188
3,341
2,847
1,725
4,801
2,796
1,141
808
1, 348
1,277
2,826
502
647
37
(8)
8
()
166
» 68,953
For footnotes, see p. 92.
145,728
Contributions
Number
Number
of reAmount of reAmount
turns
262,999
()
66, 526
43,955
Taxes paid 5
()
107,394
69, 519
46,356
32,640
24, 770
19, 252
15, 302
12, 231
10, 424
29, 543
22,786
17,127
14,152
12, 747
10,319
8,847
7,579
8,653
27. 878
14,926
6,279
23,983
16,040
11, 863
16, 536
11,055
8,334
6,177
4,468
3,590
2,417
7,916
4,326
2,513
2,125
1,749
1,512
2,073
922
1,237
686
(8)
1,110
(8)
664
9,768
5,098
3,019
1,793
1, 240
918
560
1,311
500
228
131
124
71
73
27
22
8
2
7
1
9 269,745 503,730 » 423,110 596,559
63, 737
42,191
29,467
22,498
17, 283
13, 887
11,002
9,364
7,755
25, 396
13, 380
8,048
8,894
4,649
2,779
1,614
1,145
804
519
1,222
473
212
120
116
156,975
14,321
10,847
8,287
6,650
5,505
4,572
4,060
3, 539
3,311
2,900
11, 396
8,011
6,472
9,271
6,677
5.027
3,459
3,390
2,566
1,819
6,022
3,531
2,480
1,503
2,291
2,029
2,164
1,627
1,239
735
(8)
1,272
(8)
12
,
8 385,093
305,155
92
STATISTICS OF INCOME
TABLE 7.—Individual returns for 1935 by net income classes, showing sources of
income, deductions, and net income; also total number of returns and, for returns
with net income of $5,000 and over, number of returns for each specific source of
income and deduction—Continued
[Net income classes and money figures in thousands of dollars]
Deductions—Con.
Net income classes
Under 5 (est.)_
5-6
6-7
7-8
9-10
10-11
11-12
12-13
13-14
_.
14-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70—
70-80
80-90
90-100
100-150___
150-200
200-250
250-300
300^00
400-500
500-750
750-1,000
1,000-1,500
1,500-2.000
•2,000-3,000
3,000-4,000
4,000-5,000
5,000 and over...
Classes grouped 6
Total .
Other
Total
deductions 4 deductions
444,198
33,514
25,856
20,654
16, 235
14,461
12,224
10,390
9, 502
8,029
7,180
27,433
18, 483
15, 24-2
20,190
13,049
9,653
7,593
5,463
3, 351
3,030
9,562
4,974
2,332
2, 509
2,906
3, 643
3, 416
1,302
1,691
2,153
(8)
2,878
(8)
1,0
764,191
1,314,410
122,705
93, 728
72,723
58,434
50,498
42,124
36,121
31,944
28, 331
25,734
95, 747
63,624
49,642
66, 265
43, 725
32, 237
23, 263
18,048
13, 325
9,597
30,180
16, 546
9,345
7,338
8,702
8,945
10, 781
4,590
4,899
3,733
(8)
6,126
()
Net income
8,814,418
724,455
546,931
412, 521
326,653
272,842
233,881
201,745
174,655
159, 202
141,942
541, 398
369,499
266,685
367, 581
248,044
177, 664
125,892
98,453
78,051
55, 713
166, 379
90,054
52, 501
37. 356
45,103
32,804
48,904
24,907
27, 518
13, 575
(8)
23,417
(8)
3,283
9,121
2,406,693
14,909,812
1
For explanation of items, see p. 8.
2
For explanation of changes in 1934 Act affecting net capital gain and net capital loss, see text, pp. 7-8,
and synopsis of laws, pp. 138-139.
3 Interest received on Liberty 4 and 4H percent bonds, United States savings bonds, and Treasury bonds
owned in excess of $5,000 and on obligations of certain instrumentalities of the United States is subject to
surtax if the surtax net income is over $4,000. (See items 9 and 25, Form 1040, p. 146.)
4 The number of returns is not available, since the amount of "other income" is determined by subtracting
the sum of specific sources of income from total income, and "other deductions" is determined by subtracting the sum of specific deductions from total deductions.
5
Excludes amounts reported in schedules A and B as business deductions.
6
Not available.
7 Less than $500.
8
Classes grouped to conceal identity of taxpayer.
9
Excludes returns with net income of under $5,000.
i° Taxable interest received on partially tax-exempt Government obligations reported on returns with net
income under $5,000 is tabulated with "other taxable interest."
n Includes taxable interest received on partially tax-exempt Government obligations reported on returns
with net income under $5,000.
93
STATISTICS OF INCOME
TABLE 8.—Individual returns for 1935 with net income of $5,000 and over—Frequency
distribution by size of profit and loss from business (other than partnerships) by
industrial groups, showing number of businesses and amount 1
Industrial groups
Aggregate
Size of profit and loss
from business
Agriculture and related industries
Loss
Profit
Loss
Profit
(Thousands of dollars)
Number
of
businesses
Under 0.1
0 1-0 2
0 2-0 3
0.3-0.4
0 4-0 5
0 5-1
1-2
2-3
3-4
4-5
5-10
10-15
15-20
20-25
25-30
30-40
40-50
50-75
75-100
100-250
250-500
500-1 000
1,000 and over
1,231
1 043
967
806
677
2,912
4,595
4,283
4,578
5,662
45, 573
__ 10,137
3,420
1,535
781
763
298
297
87
_63
5
Total for returns of
net
income of
$5,000 and over
Total for return? of
net income under
$5,000 for which no
frequency distribution by business and by profit
and loss is available
Grand total
$57,631
152 777
238,615
280,544
301,392
2,148,869
6, 787,182
10,726,015
16,052.428
25, 685, 723
313.760,026
121,550,321
58,519,132
34,134,603
21,263,050
26.141,330
13,198,466
17,841, 236
7,402,993
8, 575,358
1,612, 780
1
89,714
687,466,927
Number
of
businesses
Amount
795
764
633
593
510
2,024
2,146
1,167
723
459
890
288
117
75
38
37
24
21
7
9
2
1
$38,594
113,633
158,810
205,640
228, 758
1,480,874
3,100,034
2,868, 728
2, 507,524
2,055,118
6,233,087
3, 387,595
1,995,222
1, 664, 248
1,035,853
1, 259,189
1,056,521
1,326,132
606,225
1,189, 533
544,995
658,780
Number
of
businesses
Amount
Number
of
businesses
Amount
275
$13,462
237
34 701
234
57,873
164
57,630
158
69,763
564
416,235
699 1,021,034
532 1, 324,464
494 1, 732,670
470 2,131,425
3,318 22,078.983
530 6, 383,875
176 2,996,825
83 1,855,492
37
999,830
32 1,089, 756
10
429,430
12
662,467
4
333,313
2
238,497
315
309
267
242
237
1,007
1,102
670
402
243
532
173
62
42
21
13
14
9
5
7
1
1
8,029 43,927,705
5,674 19,003,593
$16,662
46 194
66,397
84,155
105,948
739,455
1,604,688
1,640,305
1, 392, 605
1,092,590
3, 730,010
2,032,265
1,060,046
934, 106
565,258
450,010
615,603
562,135
413, 751
928, 909
263, 721
658,780
1,038,456
(2)
(2)
For footnotes, see p. 101.
7 8020"-38
Amount
-7
1,167,552,000
1,855, 018,927
11, 323 33,713,093
(2)
(2)
33, 740,185
67,453, 278
94
STATISTICS OF INCOME
TABLE 8.—Individual returns for 1985 with net income of $5,000 and over—Frequency
distribution by size of profit and loss from business (other than partnerships) by
industrial groups, showing number of businesses and amount *—Continued
Industrial groups—Continued
Mining and quarrying
Size of profit and loss
from business
Profit
Manufacturing
Profit
Loss
Loss
(Thousands of dollars)
Number
of
businesses
Under 0.1
0.1-0.2
0.2-0.3
0.3-0.4
0.4-0.5
0.5-1
1-2 .
2-3
3-4 .
4-5
6-10
10-15
15-20
20-25
25-30
30-40
40-50
50-75
75-100
100-250
250-500
600-1,000
.
_.
...
..
1,000 and over
Total
For footnotes, see p . 101.
Amount
35
20
24
21
8
62
100
80
60
51
270
99
64
33
15
21
20
12
8
6
$1,607
2,936
5,998
7,231
3,503
45,847
147,509
200,798
210,582
234,808
1,854,279
1,202,280
1,096,570
722,297
414,815
749,216
886,862
725,992
694.583
787,147
Number
of
businesses
Amount
12
9
5
12
6
36
42
30
18
20
25
12
7
5
4
1
$517
1,367
1,225
4,256
2,661
25,517
57,294
73,686
65,822
88, 509
175,720
142,129
120, 768
110, 297
117,379
35,129
2
128,538
246
1,150,814
Number
of
businesses
32
33
38
25
25
71
177
178
156
301
2,557
659
228
111
73
57
24
35
15
6
1
Amount
$1,490
4,622
9,692
8,957
11 142
52,185
262,196
448,632
548, 715
1,366,135
17,633,577
7,892,879
3,894,834
2,541,457
1,990,901
1,986, 744
1,053,827
2,067,165
1,287,130
666,690
356,211
1
1,009
9,994,860
45,121,637
18
20
17
22
20
36
63
35
23
17
24
4
7
4
2
1
2
$810
2,820
4,275
7,816
8,867
28,484
89,575
87,035
79,973
76, 388
163,699
49, 255
118,965
89,590
55,389
31, 368
93,724
315
988,042
1,036,456
4,803
Number
of
Amount
businesses
95
STATISTICS OF INCOME
TABLE 8.—Individual returns for 1935 with net income of $5,000 and over—Frequency
distribution by size of profit and loss from business (other than partnerships) by
industrial groups, showing number of businesses and amount *—Continued
Industrial groups—Continued
Transportation and other public
utilities
Construction
Size of profit and loss
from business
Loss
Profit
Profit
Loss
(Thousands of dollars)
Number of
businesses
Under 0.1
0.1-0.2
0.2-0.3
0.3-0.4 0.4-0.5
0 5-1
1-2
- 2-3
3-4
4-5
5-10 _.
10-15
15-20
20-25
25-30 30-40
40-50
50-75
75-100
100-250
250-500
500-1,000
1,000 and over
Total
For footnotes, see p . 101.
Amount
13
12
8
10
9
40
68
93
87
132
1,069
211
76
26
20
21
4
10
$887
1,871
1,896
3,613
4,067
29,396
103, 725
238, 235
301,356
599,177
7, 295, 062
2, 541,020
1,328, 590
567, 757
543,469
738,078
174, 906
578, 556
2
15,490, 254
Amount
7
9
7
4
6
17
28
15
12
5
16
3
$197
1,395
1,693
1,487
2,616
13,287
39,491
38,156
42,615
21, 934
114, 000
37, 317
1
40,192
438, 593
1,911
Number of
businesses
Number of
businesses
Amount
354,380
$90
1,785
3,575
3,255
3,580
18,661
72,808
138, 595
211, 973
345,870
4, 529,808
1, 694,308
1, 027,384
505, 680
192, 336
482,018
322,823
168, 631
3
130
2
12
14
9
8
24
50
53
60
76
663
143
60
23
7
14
7
3
10,051,621
Amount
328, 441
1,231
Number of
businesses
4
6
5
8
2
10
17
10
6
4
3
2
1
1
$165
758
1,246
2,755
992
7,952
24,244
24,100
20,499
18,379
25,170
22, 928
15, 785
20,791
1
47,609
80
233,373
96
STATISTICS OF
KNCOME
TABLE 8.—Individual returns for 19S5 with net income of $5,000 and over—Frequency
distribution by size of profit and loss from business (other than partnerships) by
industrial groups, showing number of businesses and amount1—Continued
Industrial groups—Continued
Trade—Retail
Size of profit and loss
from business
Trade—Wholesale
Profit
Profit
Loss
Loss
(Thousands of dollars)
Number of
businesses
Under 0.1
0.1-0.2
._
0 2-0 3
0.3-0.4
0.4-0.5
0 5-1
1-2
2-3
._„
3-4
4-5
5-10
„
10-15
15-20
20-25
25-30
30-40
40-50
50-75
75 100
100-250
250-500
500-1,000
1,000 and over
Total
_>
__
Amount
Number of
businesses
Amount
Number of
businesses
Amount
125
121
90
78
67
237
222
112
74
40
87
21
11
5
1
3
1
$5, 657
18,313
22, 482
27, 431
30,768
173,940
321, 241
275, 913
259,115
178, 983
630, 237
247, 608
184, 493
108, 788
27, 507
96, 946
43,812
1
1,296
$579
1,812
2,651
4,855
2,207
40, 566
150, 714
266, 418
406, 560
920, 534
11, 276, 867
5,161,991
2, 681, 283
1,837, 130
959,172
1, 552, 370
670, 458
759,883
26,954, 313
10
4
9
10
8
21
35
20
19
9
18
5
3
$465
605
2,112
3,526
3,576
15,321
48. 517
49, 500
63, 753
40,814
121,427
54,343
52,550
1
28,398
172
484,907
258, 263
3,028
Amount
99,435
18,166 125,137, 467
12
12
10
14
5
55
103
108
116
202
1,610
430
158
83
35
45
15
13
2
$11,361
22, 938
35,949
51, 728
53, 659
399, 052
1, 402, 529
2, 284, 556
3, 8X7, 882
6, 595. 656
65,012,986
20, 333, 874
8,976,717
5 540 673
2, 676, 746
3, 461, 060
1 412, 551
1, 853. 689
408 175
765, 686
Number of
businesses
261
155
147
147
121
540
940
893
1,106
1,457
9,648
1,699
526
250
99
103
32
31
5
6
For footnotes, see p. 101.
2, 752,669
97
STATISTICS OF INCOME
TABLE 8.—Individual returns for 19S5 with net income of$5,000 and over—Frequency
distribution by size of profit and loss from business (other than partnerships) by
industrial groups, showing number of businesses and amount1—Continued
Industrial groups—Continued •
Service—Domestic (laundries, hotels,
restaurants, etc.)
Trade—Wholesale and retail
Size of profit and loss from
business
(Thousands of dollars)
Loss
Profit
Loss
Profit
Number of
businesses
Amount
Number of
businesses
Amount
$152
U n d e r 0.1
0.1-0 2
0.2-0.3
0.3-0.4 „..._
0.4-0.5
0.5-1
1-2
2-3
3-4
4-5
5-10
10-15
15-20
20-25
25-30
30-40
40-50
50-75
75-100
100-250
250-500
500-1,000
2
$102
1
2
1
8
5
13
25
30
234
55
14
14
5
4
4
1
1
712
466
5,667
6,914
31,000
87. 938
13S,037
1, 634, 206
650,843
244, 521
312,378
138, 296
140, 673
18'}, 250
58,111
89, 205
2
628
3
4
2. 202
6,323
3
1
10,163
4, ISO
1
19, 739
1
35,681
Total
418
Number of
businesses
11
14
15
12
19
76
94
107
105
167
1, 048
143
40
14
6
9
5
1
1
Amount
$596
2,234
3,822
4,128
8,499
54,157
142,921
274,138
372, 731
745, 069
7.029,034
1.731,128
684,161
310, 326
163.691
314 758
226,351
69, 322
81,633
Number of
businesses
Amount
19
11
14
21
11
48
40
23
7
9
11
4
1
2
$850
1,905
3,425
7,004
4,944
33, 526
58,921
57,456
24,388
41.278
80. 651
47,943
15,038
46,566
1
1
41,729
66,873
1
151,888
224
684, 383
1,000 and over
For footnotes, see p. 101.
3,728, 319
16
79,0C8
1,887
12, 218,699
98
STATISTICS OF INCOME
TABLE 8.—Individual returns for 1935 with net income of $5,000 and over—Frequency
distribution by size of profit and loss from business (other than partnerships) by
industrial groups, showing number of businesses and amount 1—Continued
Industrial groups—Continued
Service—Curative (medicinal and all
other)
Service—Amusements
Size of profit and loss
from business
Profit
Loss
Profit
Loss
(Thousands of dollars)
Number of
businesses
Number of
businesses
Under 0.1 .
0 1-0 2
0.2-0 3
0.3-0.4
0 4-0 5
0 5-1
3-2
2-3
3-4
4-5
5-10
10-15
15-20
20-25
25-30
30-40
40-50
50-75
75-100
100-250
250-500
500-1,000
1,000 and over
Total
Amount
7
10
9
4
13
28
52
52
56
68
527
121
47
22
10
18
5
9
4
5
$273
1,538
2,396
1,432
6, 058
20, 515
74,758
128, 648
193,851
308,830
3, 678,153
1,420, 754
820, 481
500, 076
278, 041
627,167
213, 224
520, 965
317.158
695.983
5
11
4
7
7
37
36
18
19
16
21
6
4
3
1
3
1
3
$353
1,490
1,093
2,437
3,130
27.601
51,456
44.347
65,077
70,427
145, 025
70,807
64, 038
70, 674
25,614
103,836
42,639
184,865
1
108, 736
1,067
9,810, 301
203
1,083, 645
_
_._.
For '.ootnotes, see p. 101.
Amount
Number of
businesses
Amount
Number of
businesses
Amount
91
102
91
66
53
309
615
720
880
1,040
12, 218
2,658
781
269
135
93
24
24
4
$3,670
15,075
22.244
22, 582
23,821
233,432
917, 625
1,806,434
3,086. 573
4, 733,734
84,892, 731
31, 693,185
13,390, 029
5,888,706
3, 660,179
3,117,465
1,052,878
1,450, 681
337, 523
54
43
37
28
26
111
90
31
12
10
9
2
$2,58«
6,183
8,822
9,592
11,666
78,322
126, 313
77,457
40,593
44,453
59,921
25,841
1
20,010
20,173
156,348, 567
454
511,759
99
STATISTICS OF INCOME
TABLE 8.—Individual returns for 1935 with net income of $5,000 and over—Frequency
distribution by size of profit and loss from business (other than partnerships) by
industrial groups, showing number of businesses and amount J —Continued
Industrial groups—Continued
Service—Educational
Size of profit and loss
from business
Service—Engineering
Loss
Profit
Profit
Loss
(Thousands of dollars)
Number of
businesses
U n d e r 0.1
0.1-0.2
0.2-0.3_
0.3-0.4
0.4-0.5
0.5-1
1-2..
2-3
3-4
4-5
5-10
10-15
15-20
20-25
25-30
30-40
40-50
50-75.
75-100
100-250
250-500.
500-1,000
1,000 and over
Amount
Number of
businesses
Amount
$987
3,137
6, 585
4,899
6,272
33,003
61,432
36,731
16,867
13, 714
35, 828
21, 556
18, 567
47
40
31
32
18
83
83
71
61
71
624
175
79
45
17
28
17
18
11
3
.
$2,182
6,017
7,646
10,884
8,111
59,652
121,364
173,389
212,131
319,110
4,353,862
2,115,927
1,359,190
1,012,261
453,784
938, 765
756,830
1,190, 813
948,382
362,953
23
22
27
14
14
44
43
15
5
3
5
2
1
1,554
14,413, 253
218
Number of
businesses
Amount
Number of
businesses
Amount
28
22
24
20
16
64
101
78
61
70
559
143
51
28
20
14
7
4
2
1
1
$1,453
3,430
5,777
6,863
7,037
44, 688
150,478
191, 729
213, 751
315, 383
3,891, 020
1, 756,146
882,188
630,365
540,920
476,864
304,658
253,416
168,808
111,296
257, 507
21
27
22
15
6
49
40
11
13
5
14
9
2
1
1
$946
4,205
5,674
5,249
2,723
35,620
53,267
27,351
46,914
22,405
101, 298
106,089
32,415
20, 772
27,765
1
54,867
1,314
10. 213. 777
237
547, 560
.
Total . .
259, 578
Industrial groups—Continued
S e r v i c e - Legal
Size of profit and loss
from business
Service—All other
Profit
(Thousands of dollars)
Number
of businesses
Number of
businesses
Amount
173
139
139
105
98
404
643
562
596
739
5,007
1. 538
577
270
160
158
68
68
14
17
3
$8,336
19,934
34,161
36, 224
43, 362
299, 947
947,127
1,400,921
2,090,949
3, 351,083
35, 367,143
18, 491, 600
9.850, 388
6,057,141
4, 361, 580
5,437,144
3,013,399
4,035, 243
1, 224, 558
2,442,602
999,062
82
66
39
44
29
97
105
36
22
9
20
4
2
$3, 253
9,699
9,553
14,891
12,918
71,459
152, 556
87,619
74,406
39,958
139. 230
45, 073
36,044
1
35, 715
11,478
99, 511,904
556
U n d e r 0.1
0.1-0.2
0.2-0.3
0.3-0.4
0.4-0.5
0.5-1 _.
1-2
2-3
3-4
4-5
5-10
10-15
15--20
20-25
25-30
30-40
40-50
50-75
75-100 .
100-250
250-500
500-1 000
1,000 and over
Total
Amount
Profit
Loss
For footnotes, see p . 101.
Number of
businesses
Loss
Amount
$1,339
3,428
6,791
11,750
8,886
67,995
218, 623
343,628
501,151
904, 830
12, 964, 640
5,093,412
2,420,119
1,291,158
682.474
879, 235
405,096
496,011
2
732,, 374
26
24
27
33
20
92
147
137
143
198
1,871
422
143
58
25
26
9
8
26, 582,242
Amount
281, 676
3,411
Number of
businesses
18
9
9
11
10
30
20
12
8
6
7
1
$797
1,303
2,292
3,803
4,365
21,830
30,160
30, 339
28,046
27,239
45,102
10,244
1
23,484
142
229,004
100
STATISTICS OF INCOME
TABLE 8.—Individual returns for 19S5 with net income of $5,000 and over—Frequency
distribution by size of profit and loss from business (other than partnerships) by
industrial groups} showing number of businesses and amountl—Continued
Industrial groups—Continued
Finance—Investment brokers
Size of profit and loss
from business
Profit
Finance—Real estate
Loss
Profit
Loss
(Thousands of dollars)
Number of
businesses
U n d e r 0.1
0.1-0.2
0.2-0.3
0.3-0 4
0.4-0.5
0.5-1
1-2
2-3
3-4
4-5
5-10
10-15
15-20
20-25
25-30.
30-40
40-50
60-75
.
75-1CO
100-250
250-500
600-1,000
1,000 and over
_
Total
For footnotes, see p . 101.
Amount
Number of
businesses
Amount
5
5
4
1
1
16
38
32
34
43
257
103
61
38
24
21
8
11
3
1
$323
806
999
311
400
10,951
54,168
79,472
118,364
191,538
1,834,490
1, 270, 680
1,062,482
853, 554
656,131
729,774
345. 243
691, 552
254, 6S5
225 703
5
4
3
7
5
17
25
14
7
10
12
5
1
1
1
3
$235
619
709
2.383
2, 353
11,935
35, 758
37, 200
23. 744
43,165
90, 437
66,147
15, 732
20,018
27, 746
107, 772
1
1
706
8, 381,606
122
Number of
businesses
Amount
Number of
businesses
Amount
$865
1,687
3,414
3,474
6,977
47,177
138. 630
186, 9S2
274,000
324,029
3,171,109
1,071,412
601,169
283,507
54,666
321, 734
88,032
140,872
80,633
12
18
10
14
16
46
41
15
12
13
25
10
6
2
3
1
$740
2.464
2,313
4,731
7,103
34,149
60,823
37, 742
40, 846
58,939
167, 835
119,093
104.000
42,037
56, 207
92,376
42, 706
52. 600
93, 039
17
13
14
10
16
64
94
73
78
71
458
90
35
13
2
9
2
2
1
631,592
1, 0C2
6,800, 369
246
874,104
101
STATISTICS OF INCOME
TABLE 8.—Individual returns for 1935 with net income of $5,000 and over—Frequency
distribution by size of profit and loss from business (other than partnerships) by
industrial groups, showing number of businesses and amount*—Continued
Industrial groups—Continued
Finance—All other
Siae of profit and loss
from business
Profit
Nature of business not given
Loss
Profit
Loss
(Thousands of dollars)
Under 0.1 _
49
46
39
44
25
142
243
229
196
199
1 696
454
162
82
50
40
13
16
5
,5
0.1-0.2
0.2-0.3..
0.3-0.4..
0.4-0.5
0.5-1
1-2
2-3
3-4
4-5
5-10
10-15.....
15-20
20-25
25-30...
30-40
40-50. „ . .
50-75..
75-100
100-250
250-500
500-1,000
1,000 and over
Amount
$2,468
6,841
9,595
15, 336
11,130
105,136
356,644
579, 713
686, 676
905,192
11,915,413
5, 476,142
2 796 022
1,817,020
1, 333,840
1 374 928
581,847
973. 847
441. 218
685, 863
Number of
businesses
Amount
17
15
17
9
12
34
39
19
9
11
8
8
$907
2 300
4, 184
2,960
5 297
23, 911
58, 922
46, 119
30, 244
47. 836
54 434
90, 110
I
22, 996
2
1
88, 507
70, 192
1
Number of
businesses
281,274
203
830,193
Number of
businesses
Amount
Number of
businesses
Amount
145
147
99
87
65
270
343
272
264
277
1,939
464
142
73
41
50
24
19
9
2
$6, 548
21,122
24,136
29, 579
28, 724
197,610
497. 415
678, 263
914, 575
1, 255, 283
13, 346, 683
5,568,865
2. 40^, 179
1, 607,625
1,112,179
1, 723, 581
1, 070, 801
1,144, 020
736,009
285, 965
47
60
51
45
28
144
154
81
52
28
53
17
8
6
4
8
$2,306
8,876
12, 730
15, 637
12, 559
103,360
219,053
197, 672
181,826
123, 957
353,063
198,847
137,042
134,119
104, 590
270, 356
3
206,062
4,732
32, 655,162
789
2, 282,055
.
Total
3,735
30,124,871
i This table excludes income from salaries, wages, commissions, fees, etc., as shown in item 1 on face of
return,
s Not available.
102
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years
Alabama
Arizona
Net income classes
Number
of
returns
(Thousands of dollars)
Under 1 (est.) i
Under 1 (est)
1-1.5 (est.) i
1-1.5 (est)
1.5-2 (est.)i
1.5-2 (est.)
2-2.5 (est.) i
2-2.5 (est.) . _
2.5-3 est) i
2.5-3 est.)
3-3.5 (est.) i
3-3.5 (est)
3.5-4 (est.) i
3.5-4 (est.)
4-4.5 (est.) i
4-4.5 (est.)
4.5-5 (est) i
4.5-5 (est.)
- .
5-6
6-7 . _
7-8
8-9
9-10
.
10-11
11-12
12-13
13-14
14-15 . .
.
15-20
20-25
25-30
30-40
40-50
60-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
6,000 and over
Classes grouped
.
.
.
.
Net income
1,563
88
2,620
1,960
1,500
1, 966
2, 618
1,047
3,806
669
1,480
992
513
1,045
133
782
50
613
45
788
445
297
244
157
127
93
53
66
60
144
79
31
33
17
5
6
$1,069,376
39,013
3,146,026
2, 568, 756
2, 622, 952
3, 402, 844
6, 025, 820
2, 333,130
10, 298, 472
1, 877, 970
4, 735,129
3, 213, 173
1, 889, 516
3, 897,489
555, 396
3, 320, 384
235, 604
2, 897, 535
244, 350
4, 306, 272
2,880,907
2, 221, 654
2,065, 530
1,482, 663
1, 328, 691
1,065, 614
660, 525
889, 944
871,077
2, 461, 071
1, 751,808
845,400
1,119,953
760,453
263,114
394,150
2
1
1
2
z
Total
Summary for preceding years:3
1934
1933
1932
1931
1930
1929
1928.—
1927
1926
. _
1925
For footnotes, see p. 126.
i
Total tax
$924
14,837
41, 220
36, 693
18, 565
24,105
34,119
34, 713
34,194
62, 652
49, 339
49, 050
57,132
50, 963
49,139
42, 025
29, 762
45, 558
45,042
152, 988
138, 867
82, 796
133,036
110, 646
41, 830
82,074
1
Number
of
returns
1,011
2
1,549
1,049
1,104
1,387
1,168
590
1,634
429
644
634
247
575
73
393
32
324
20
374
233
140
73
45
35
34
10
15
21
45
18
12
9
7
1
2
1
1
Net income
$623,811
1,440
1,894, 662
1, 380,424
1, 937, 369
2,398, 235
2,638,921
1, 309, 716
4,452, 472
1, 193, 710
2, 051, 311
2,053,111
905,231
2,164,315
304,133
1, 668, 852
150, 025
1, 536, 519
107, 658
2,043, 559
1, 503,046
1,046, 915
618, 528
426, 303
367,361
391,841
125, 477
203,008
304, 793
766,849
399,300
328, 157
313,360
314,117
Total tax
$25
7,729
26, 565
18, 809
11, 941
19,417
22, 437
20, 014
23,219
37, 076
34,044
31,043
20, 775
16,428
15, 952
19,445
5,961
10, 348
18,540
48,954
30, 660
35,878
39, 362
47, 623
(i)
h
(2)
(2)
702,183
239, 259
373, 502
85,614
26,141
80, 443, 944
1, 701, 528
13, 941
38, 298,031
647,859
23, 072
19, 962
20, 680
19, 532
22, 605
25,818
26,891
27, 992
28, 540
26, 278
69, 229,199
53,673,478
54, 020, 284
70, 309, 297
93, 900, 510
122. 569, 172
142,167, 220
133, 224, 614
136, 523, 003
130,024, 575
1, 407, 104
978,404
769, 932
640,467
1, 353, 584
2,087, 718
4, 035, 792
2, 455, 166
2,449,196
2,326, 213
11,378
8,588
8,900
8,035
10, 590
12, 448
11, 527
11,059
10, 509
10, 104
29,802, 959
20,851, 766
23,354, 960
28, 745,823
42, 775,084
60, 788, 434
58,368,659
45,837,158
41, 716, 578
41, 382, 939
391, 723
265, 635
305,405
247,280
584, 274
1,113, 778
1, 600,309
997,800
498,898
544, 953
103
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Arkansas
California
Net income classes
Number
of
returns
(Thousands of dollars)
Under 1 (est.) 1
U n d e r 1 (est.)
1-1.5 (est.) i.__
1-1.5 (est.).
1.5-2 (est.) L 1.5-2 (est.)
2-2 5 (st.) i
2-2.5 (est.)..
2.5-3 (est.) i.._
2.5-3 (est.)
3-3.5 (est.) i
3-3.5 (est.)—
3.5-4 (est.) i
3.5-4 (est.)
4-4.5 (est.) i___
4-4.5 (est.)
4.5-5 (est.) i__
4.5-5 (est.)
1,011
40
1,412
989
991
670
1,452
318
2,020
449
925
641
275
606
107
348
54
234
19
451
278
195
123
98
66
48
41
32
44
60
29
25
20
_
_
5-6
6-7—_
7-8
8-9
9-10
-_
10-11—.
11-12.
..
12-13
13-14
..
14-15
15-20
20-25
25-30
30-40
40-50—50-6060-70
70-80—.
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500.
500-750...
750-1,000
1,000-1,500.
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and o v e r . . .
Classes grouped 2
Net income
$628,656
19,091
1,723,997
1, 270, 434
1, 736,128
1,144,637
3,315,874
705,818
5,490, 707
1, 261,408
2,946,038
2,091,335
1,021,306
2. 268, 523
' 444,023
1, 476, 533
253, 226
1,110,500
104,107
2, 468,309
1, 798,185
1,455,024
1,045,377
927,014
688,691
552,041
512,076
431, 390
639,949
1,039,950
633,072
679,435
689,799
406,265
(2)
Total tax
Number
of
returns
22,965
$549
12,415
"16," 650
8,564
16,'833"
14, 972
147196"
13, 694
37, 473
32, 217
33, 388
31, 578
32, 384
26,178
24, 726
24, 709
20, 897
35, 254
67, 056
50, 303
62, 774
82, 698
53, 745
(2)
()
0)
564
41.379
35,084
26,058
35, 533
26,002
15,403
34,790
12,132
16,110
16,197
5,129
15, 787
1, 631
12,360
766
8,605
549
12, 327
7,962
4,450
2,855
2,056
1, 538
1,255
Q75
787
685
2,186
1,121
667
785
358
214
136
90
70
51
87
28
13
7
6
2
2
Net income
$14,974, 723
320.707
49,837,527
45,855,195
45,235, 314
61,011,069
59,100,678
33,956, 731
94,908,037
33,808, 265
51, 580, 842
52, 693,954
18,933,471
59,129,940
6,854,460
52, 372, 594
3, 607,823
40, 796,103
2,973.863
67,352,309
51, 340,442
33,148. 697
24,182,106
19,497,175
16,105, 294
14,409,217
12,165,467
10,605.531
9,922,995
37,648,333
24,944,444
18,236,251
27,155,192
15,885,105
11,640,106
8, 795,435
6,714,365
5,939,133
4,854,339
10,363,620
4,722,603
2,870,303
1,857,154
1,986,974
(2)
Total tax
$7, 712
~252~82l
713,097
"534," 264
361,498
"4547297
646, 211
596,209
1, 278,115
1,116,539
921,999
825. 307
767,688
696,418
675,624
614,737
573,394
565,152
2,469,706
2,086,347
1,834,696
3, 412,786
2,385, 522
2,076,766
1,889,898
1,521,069
1,497, 777
1,349,078
3,428,984
1,855,965
1,245,801
853,805
955, 263
(»)
0)
372,245
2,009,313
1,011,941
14,085
Total.
43,351,163
367,757 1,172,303,199
42,033,332
13,318
11,427
10,350
9,873
12,490
15,813
16, 660
17,331
19,363
20,597
38,885, 585
29,366, 515
24, 716,119
29,256,385
43, 282,986
68,910,936
71, 689,792
75, 553,896
84, 661, 070
84,474,350
Summary for preceding years:1
1934
1933
1932.
1931.
1930
1929—_____
1928
1927—
1926
1925,
_.
___.
For footnotes, see p. 126.
677,515
370,043
215,937
107,830
241,787
712,954
877, 747
1,339,952
1,481, 272
1, 434, 504
315,766
286,580
295,650
248,722
293,048
309,047
316, 738
315, 566
315,344
305, 074
968,067,116
785,354,006
841,047,708
967,099,004
1.330, 003,655
1,689, 896,424
1, 765, 573,139
1, 582, 576,258
1, 571, 673, 688
1,490, 419, 792
33,380,393
21,444,162
21,635.950
14,732,280
27,136,057
45,360.278
63,707,136
46,044,994
46, 238,346
37,127,167
104
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Connecticut
Colorado
Net income classes
Number
of returns
(Thousands of dollars)
Under 1 (est.)1
Under 1 (est.)
1-1.5 (est.)1
1-1.5 (est.)_ . .
1.5-2 (est.)1
1.5-2 (est.)
2-2.5 (est.)1
2-2.5 (est.)._
2.5-3 (est.)1
2.5-3 (est.)
3-3.5 (est.)i
3-3.5 (est.)
3.5-4 (est.)1
3.5-4 (est.)..
4-4.5 (est.) i
4-4.5 (est.)..
4.5-5 (est.)i
4.5-5 (est.)..
5-6 i
5-6
6-7
7-8_ .
8-9_.
9-10.
10-11
11-12
12-13
13-14 . .
14-15
15-20
20-25 . .
25-30
30-40
40-50 . . .
5(M>0
60-70
70-80
80-90
.
90-100
1OO-15O..._
_
.
150-200 .
200-250
250-300
300-400....
400-500
500-750_
750-1,000..
1,000-1,500
1,500-2,000..
2,000-3,000
3,000-4,000
4,000-5,000.
5,000 and over...
_
Classes grouped i
Net income
2 595
126
3 843
3 376
2 584
2 124
2,754
883
3 502
940
1, 625
1 391
687
1,225
291
834
90
696
64
1 022
703
439
335
230
184
123
102
38
75
201
112
68
63
36
15
12
8
7
.
Total,
Summary for preceding years: 8
1934
1933
1932
1931
1930
1929
1928
1927
1926
1925
For footnotes, see p . 126.
$1,642,695
60,608
4, 660,277
4, 354,765
4, 498 965
3,637,118
6, 256,470
1,968,525
9, 474,065
2, 642,737
5, 222,499
4, 534,155
2, 521,701
4, 577,530
1, 231,692
3,540,455
419,539
3, 298,744
344 483
5, 590,542
4.560,833
3, 286,299
2, 852,463
2,180,666
1,927,012
1. 414,658
1, 275,772
1,184,217
1,085,579
3,453,152
2, 494,818
1,855,027
2,160, 262
1,617,121
801, 449
767, 423
587, 940
603, 259
9
8
1
1
1
1
1,071,011
1,360 322
00
(2)
Total tax
$1,448
21,802
41,223
29,808
20,189
32, 205
34,099
36,148
40, 412
91,875
81,311
72, 762
77, 301
71,036
69,035
57, 578
57, 337
59. 572
53, 903
208,930
190.570
176,902
251, 965
234, 307
133, 242
146, 512
125,178
149, 995
339,285
520, 220
(2)
Number
of returns
5,858
331
18,945
11, 666
6,947
7,970
6,550
3,238
9,132
2,177
4,109
2, 596
1,892
2,397
788
2,036
479
1,729
274
2,527
1,905
1,347
935
756
514
449
368
294
264
824
480
280
328
172
106
68
46
24
8
47
20
7
5
5
3
1
1
Net income
$3,995,861
188,821
22,130, 555
14,981,993
12,068 940
13, 676, 953
14, 865, 359
7,174,726
24, 917, 737
6,051,936
13,181,562
8, 471, 283
7,007, 739
9,006,427
3, 337, 383
8, 637, 394
2 272,875
8,189, 801
1 485 098
13,831, 322
12, 307, 480
10,069, 232
7, 924,807
7,165, 440
5, 395, 601
5,155, 075
4, 596, 313
3,963, 928
3,828,015
14, 244, 306
10, 718, 597
7, 681,135
11, 388, 618
7,657,420
5, 796, 299
4, 373, 340
3,428,456
2,013,828
756, 381
5,488,082
3 453 139
1,609,072
1 373 832
1, 712, 737
(2)
Total tax
$4,477
72,359
157,654
114,238
64,625
67, 214
74,141
78, 709
90,842
188,051
198,545
200,806
201,904
222,044
190,241
195,168
192,636
180, 505
185, 780
822,403
807, 211
715, 421
1, 322,108
1,079, 596
980,479
835,911
757, 583
487, 557
207, 546
1,732,081
1 340,869
686, 533
604,114
800, 719
(2)
(3)
•
1,362, 469
631,059
2,727,315
1, 367,267
33, 475
108, 379, 317
4,057, 259
100,898
340, 303, 213
17, 227, 337
31, 232
28, 725
30, 537
25, 279
28,986
31, 268
31 091
31, 727
35,110
35,808
94, 502, 319
74, 445,866
82, 077, 771
96 661,700
125, 795,609
158, 751, 528
15S 931,875
148, 473,486
154, 804, 655
150,363,411
3, 281, 526
1,710.477
1, 815, 932
1, 378, 043
2, 439, 796
3, 534, 404
4, 459,057
3, 307,180
2,959. 248
2,840,926
91, 352
81, 850
86, 308
65, 306
74, 821
82,049
81,063
77, 778
81,449
74, 595
288,693,183
257,310,810
274,908, 669
309, 351, 262
400,674, 216
561, 547, 753
522, 496, 528
451,001, 651
433, 776, 846
404,498,337
12,325, 678
8,691,835
8,155,965
6,067, 228
11,435,656
23, 693,045
23,104,139
16,117, 674
13, 751, 314
13,533,990
105
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Delaware
District of Columbia
Net income classes
(Thousands of dollars)
tinder 1 ( e s t . ) 1 - . . .
Under 1 (est.)
1-1.5 (est.) 1
1-1.5 (est.).
1.5-2 (est.) 1
1.5-2 (est.)
_.
2-2.5 (est.) 1
2-2.5 (est.)
2.5-3 (est.) 1
2.5-3 (est.)
3-3.5 (est.) 1
3-3.5 (est.)
_.
3.5-4 (est.) 1
3.5-4 (est.)
4-4.5 (est.)i
4-4.5 (est.)._
4.5-5 (est.) 1
4.5-5 (est.)
5-6 »
5-6.
6-7
7-8
8-9_.
0-10
—10-11...
11-12.
12-13
13-14.
14-15
15-20
20-25
25-3030-40
40-50.
50-60.
60-70.
70~80_.._80-90
90-100
100-150150-200
200-250
250-300
300-400
400-500
500-750.
750-1,000
1.000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5.000 and over
Classes grouped 2 . .
Total.
Summary for preceding years: ;
1934
1933
1932
1931
.
1930
1929
1928
1927
1926
1925
For footnotes, see p. 126.
Number
of re-
763
53
1,411
1,301
847
706
860
248
1,004
343
444
436
142
353
95
265
40
216
37
332
274
171
131
111
78
66
63
50
34
136
81
52
60
40
26
14
18
9
5
13
15
3
Net income
$520, 687
22, 976
$560
1, 688, 372
1, 657, 617
"7," 585'
1, 472, 347
1, 221,193
12,939
1,965, 400
552,980
~"7,"l8l"
2, 720, 454
958, 685
8,900
1,421, 743
1,412,146
9, 255
527. 844
1,318, 204
9,853
400,192
1,122,277
"16,206
189, 572
1,025, 066
11,130
202, 539
1,820, 228
26, 564
1, 780, 699
25, 548
1, 276, 825
27,817
1,112, 633
27, 372
1,054. 943
38, 540
816,118
28, 394
763, 217
28, 458
788,415
33,191
675, 916
31, 639
495, 309
40, 080
2, 341, 490
134, 727
1,814,032
136, 483
1, 430,870
130,132
2,070,415
234, 388
1, 777, 343
248, 492
1,418,197
234, 577
172, 798
906,139
289, 881
1, 340, 249
189, 326
775, 646
122, 226
472, 555
503, 932
1, 579, 356
933, 755
2, 510, 978
266, 422
648, 650
(2)
(2)
650, 553
1, 409, 550
2, 626, 859 1, 257, 374
3, 022, 485 1, 527, SOS
5, 306, 925 2, 793, 240
(2)
(2)
2, 323, 589
11,371
10, 620
9,910
9,822
8,284
9,342
9,780
9,592
9, 266
9,301
9,131
Total tax
2,139
271
8,404
21,517
5, 967
11,426
4,782
3, 300
6, 9«2
4, 224
3, 407
5,270
1, 253
3,795
303
2, 265
96
1,565
56
2,773
1, 553
927
571
427
291
230
219
129
111
411
205
126
126
62
40
21
9, 312, 466
5, 042, 284
4. 3%. 328
2, 283, 901
3, 927, 732
14, 524, 946
10, 592, 886
7, 970, 035
5,100,884
2, 780, 200
Net income
$1, 631,464
133, 343
10, 363, 360
27, 762,084
10, 271, 352
19, 263, 289
10, 881, 806
7, 295,885
18, 962, 286
11,858,895
10, 888, 751
17, 074, 391
4, 588, 625
14,173, 565
1, 263, 244
9, 608, 951
449, 693
7, 426. 375
301,510
15,170, 252
9, 995, 954
6, 899, 391
4, 833,101
4, 049,144
3, 048,878
2, 646, 493
2,724,710
1, 737, 756
1, 611,134
7, 070, 002
4, 560, 964
3,421,056
4, 443, 839
2, 758, 261
2,183,816
1, 377, 012
590, 912
667,444
1, 048, 808
1, 742, 989
(2)
Total tax
$2, 652
"l79,"680
"166,497
84,099
100,413
110, 429
93, 900
"""947834
"2467886
198, 022
161,839
141,117
140, 567
124, 982
113, 759
127, 820
87,119
87,303
445, 522
371, 953
340, 894
558,832
418,707
386, 642
273, 230
137, 271
169,954
275,079
588,152
(2)
(3)
1,190, 392
64, 759, 925 11, 401, 715
55, 073, 452
45, 536, 527
46,026, 220
51, 044, 537
64, 913, 288
148, 850, 300
107,335,477
90, 262, 899
70, 544, 423
54, 897, 972
Number
of re-
1, 886, 341
872,841
95, 271
288, 667,106
7,175, 849
82, 871
69, 967
73, 501
51.920
51, 044
48, 087
44,183
39, 560
40,024
43, 298
234, 925, 250
192, 795,436
213, 475, 879
200, 628, 347
217, 558, 448
242, 282, 698
227, 620, 606
198, 938, 042
198, 055, 768
200, 353, 699
5, 653, 864
4, 625,042
5.115,177
2, 974, 707
4. 200, 940
6, 408, 622
7, 474, 643
6.027,133
5, 526,436
5, 718, 046
106
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, showing number of returns^ net income and total tax; also totals for preceding years—Continued
Florida
Georgia
Net income classes
(Thousands of dollars)
Under 1 (est.)1
Under 1 (est.)1-1.5 (est.)1
1-1.5 (est.)
1.5-2 (est.)i
1.5-2 (est.).
2-2.5 (est.)i
2-2.5 (est.)
2.5-3 (est)i
2.5-3 (est.)
3-3.5 (est.)i
3-3.5 (est.)
3.5-4 (est.)i
3.5-4 (est.)
4-4.5 (est.)i
4-4.5 Test.)
4.5-5 (est.)1
4.5-5 (est.)
56i
2,917
116
3,501
2,915
2,959
1,789
3,320
1,027
4,415
1,180
2,149
5-6
7-8
8-9..
9-10
10-11
11-12
12-13
13-14
14-15
15-20
20-25...25-30
30-4040-50
60-60
60-70
70-80
80-90
90-100
Number
of returns Net income
—
-
-
100-150150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500
-.
1,500-2,000
2,000-3,000..3,000-4,000
4,000-5,000
5,000 a n d over
Classes g r o u p e d 2_
1,744
798
1,437
283
1,194
101
887
127
1,197
915
565
415
321
260
202
146
126
98
338
182
96
105
57
39
22
16
9
9
22
5
7
1
5
1
1
S u m m a r y for preceding years:
1934
1933
1932
1931
-1930
1929—
1928.
-
1927..
1926.
1925-
.--
For footnotes, see p. 126.
4, 228,202
3, 733,161
5,163,415
3,088,373
7, 530,413
2, 275,218
11,995, 540
3,324, 609
6,891, 532
5, 700. 154
2,951,059
5,382,665
1,188,035
5,057,222
468,893
4,203,118
690,464
6,527,870
5,917,517
4,219,798
3, 509,823
3,047,312
2,714,146
2,325,325
1,815,499
1,698,361
1,418,781
5,788, 710
4,074,875
2,614,093
3,621,628
2, 539,106
2,147,137
1,437,159
1, 204,038
756,673
852,147
2,678,186
856,893
1, 599,075
(*)
1. 754,090
(2)
$1,336
"l8,"597"
"34," 332'
34, 774
"27," 608'
36,110
~42~326"
"50," 803"
49,554
99, 770
101, 727
91,788
98, 563
101,306
102, 548
93. 099
80,998
82,072
69, 709
345, 527
312,158
249, 831
454, 387
381,970
367,597
280,923
264, 753
186,622
223,932
881,875
325,385
675,346
(2)
809,740
3,755,952
38,021
Total.
$1,890, 675
56,466
Total tax
32, 550
28, 775
29,303
25, 340
28,133
30,040
32,155
40, 080
56,109
76, 213
8,933,457
2,372
60
6,304
2,678
3,656
2,665
3,921
1,447
6,744
983
3,378
1,624
1,115
1,774
310
1,551
120
1,253
79
1,108
829
580
387
263
236
189
131
109
95
305
154
88
76
45
27
10
13
5
6
7
$1,615,971
30, 333
7, 607,182
3, 588, 651
6,284,924
4,597,759
8,941,634
3,197,481
18,380,062
2, 735.944
10, 794, 677
5, 294, 042
4,074,808
6,657, 644
1,316,099
6,587, 273
565,926
5,914, 554
429,322
6,050,421
5,367,492
4,332, 828
3,286,384
2,490,546
2,474,904
2,172, 765
1, 632,826
1,468,381
1,374, 783
5,265, 764
3,433,316
2,400, 828
2, 569,083
2,003,293
1,484,647
638,979
977,385
432,003
568,546
811,947
46, 702
150,963,172
1,956,391
144, 693,408
Number
of returns Net income
5,597,287
2, 671, 623
2, 557,631
2,219, 520
2,840,391
5,936, 377
7,714,261
6,047, 244
10, 415, 636
28,857, 801
1, 111, 765
122,612,284
38,137
94,892,882
32. 229
92,882,516
31, 730
25, 729 102,907,022
28,996
128, 081,049
32, 289 163,181,491
32,921
167,063, 587
33,818
167,407,479
36, 744, 171,146,482
37,410 177,203,659
Total tax
$816
22~247
55,072
51," 895
35,071
"41,216
58,556
~66,"293
67,604
86,211
90,503
90,917
88,137
77, 706
87,931
86, 261
69,104
69, 712
69, 786
304, 845
259,298
218,318
294,081
282,840
263,682
120,500
212. 872
110, 621
149,254
251,810
(2)
466, 301
4,149,454
3,104,301
2,062,780
1,692,089
996,756
1, 659,244
2, 785,942
3, 806, 534
3, 612, 724
2,888,409
3,529,883
107
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Hawaii
Idaho
Net income classes
Number Net income
of returns
(Thousands of dollars)
Under 1 (est ) l
Under 1 (est.) 1-1.5 (est.)1
1-1 5 (est.)
1.5-2 (est.)1
1 5-2 (est)
2-2.5 (est.)1
2-2.5 (est.)...
2.5-3 (est ) l
2.5-3 (est.)
3-3 5 (est.)1
3-3.5 (est.)
3 5-4 (est.)1
3.5-4 (est.)
.
4_4 5 ( e s t )i
4-4 5 (est.)
4.5-5 (est.)1
4 5-5 (est.)
5-61
5-6
6-7
7-8
8-9
9-10
10-11
11-12 .
12-13
13-14
14-15
15-20
20-25
25-30
30-40
40-50
50-60
.
60-70
70-80 80-90
90-100
100-150
150-200
200-250
250-300
300-400 . . __
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3 000-4 000
4,000-5,000
5,000 and over
Classes grouped
_
.
.
_
_
_
.
.
.
_.
_
.
1,186
48
1,669
1,351
997
864
747
333
1,236
381
693
545
273
516
134
365
50
235
32
383
255
186
117
88
92
54
43
33
27
116
54
35
43
23
7
14
6
11
2
14
3
1
2
Summary for preceding years:3
1934 .
1933
1932
1931 .
.
.
1930
1929
1928 _
1927
1926
1925
For footnotes, see p . 126.
$595,246
24,742
2,028,422
1,700,007
1,717,491
1,474,180
1,685,058
743,687
3,369,850
1,059,494
2,214,087
1, 767,329
1,010,283
1,924, 670
563,579
1, 544, 433
238, 559
1,115,858
174, 399
2,104,436
1, 646,865
1,383,075
991,071
830,984
961, 665
618,692
534,097
445,875
393,124
2,012,051
1,196, 635
947, 565
1, 473, 706
1,029, 900
378. 606
907,132
443,739
943,551
27,957
24,612
26,877
24,636
23, 669
32,814
22,248
22,017
18, 449
19,169
115, 359
83,339
84, 788
162, 273
142,403
62, 605
174, 200
96,867
228,933
1, 733, 266
511, 740
Number
of returns Net income
Total tax
555,179
194,602
(2)
$190
7,442
15,925
9,672
8,798
10, 262
12, 228
10,799
9,707
261
8
1,520
1,480
691
767
454
376
1,512
399
676
557
245
549
68
355
31
274
20
360
183
85
57
17
29
12
11
7
10
15
13
6
7
$165,367
5,229
1, 789, 396
1,822, 715
1,197,626
1,294,418
1,027, 665
825,829
4,117,196
1,117,877
2,157,929
1,807.063
899,634
2,057,943
290,476
1, 505, 616
146, 604
1,303,241
109, 508
1,956,951
1,176,525
629, 988
476,214
159, 483
304, 305
138,808
137, 020
94, 913
144,920
253, 673
294,444
163,088
231,349
$39
8,479
13,541
11,141
9,063
16, 451
22,575
18,769
20,057
33, 319
24, 783
18,997
15,903
5,727
12, 672
7,252
6,317
5,680
8.816
IS. 419
25,257
16,939
30,907
(3)
462,675
168, 236
13,262
46,901,822
2, 396, 253
11,005
29,803,013
351,103
11,252
10,835
12,192
7, 328,
7,869
8,210
8,047
9, 252
9,146
9,306
37,515,719
34, 357, 940
37, 277,185
33, 869,092
37, 245,940
43, 290,997
43, 349, 731
44, 618, 510
42, 950, 279
41,465,375
1,563.069
1,140, 546
1,101,535
815, 673
972, 216
1, 220, 345
1,311,756
1,200, 544
1,096,213
944,053
8,932
6,072
5, 788
5, 684
7, 852
9,830
9,808
10,673
11,617
12,907
23, 636, 891
14, 582,154
13,f>83, 578
18, 350, 071
27, 757, 374
38, 525, 958
37, 121,872
38,448, 758
39, 887, 951
40, 443, 781
281,770
130,027
97,113
46,045
128, 290
184. 325
283,172
247, 272
184. 344
170,912
_
Total
Total tax
108
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for 'preceding years—Continued
Illinois
Indiana
Net income classes
(Thousands of dollars)
Under 1 (est.)1Under 1 (est.)..
1-1.5 (est.)i
1-1.5 (est.)
1.5-2 (est.)i
1.5-2 (est.)
2-2.5 (est.)*
2-2.5 (est.)
2.5-3 (est.)i
2.5-3 (est.)
3-3.5 (est.)i
3-3.5 (est.)
3.5-4 (est.)i
3.5-4 (est.)
4-4.5 (est.)i_-_.
4-4.5 (est.)
4.5-5 (est.)i
4.5-5 (est.)
5-6i
5-6
6-7—
7-8.
9-10—.
10-1111-12
12-13—
13-14
14-15
15-20._
20-25
25-30
30-40
40-50
50-60
60-70
70-80—
80-90
90-100
100-150
150-200
200-250..
250-300
300-400—
_.
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,C00-5,000
5,000 and over 2
Classes grouped
Total.
Summary for preceding
years:3
1934
1933
1932.
1931—
1930..
1929
1928.
1927
1926
1925
For footnotes, see p. 126.
Number
)f returns Net income
16,983
855
49,177
32, 481
22, 962
30, 076
23,490
13, 906
37, 260
10,422
15, 540
13,407
4,945
12, 215
1,285
10, 533
631
7,996
356
10, 284
6,834
4,725
3, 233
2,450
1,930
1,537
1,187
1,024
856
2,760
1,416
865
916
471
265
148
115
83
43
101
43
16
10
14
3
4
2
1
1
$11, 537, 706
444.009
58, 699, 570
42, 261,963
39, 636, 384
51,831,138
53,491, 679
30, 659,128
101,188,098
28, 971, 216
49, 757,442
43,630, 723
18, 264,012
45,787,968
5,404,231
44, 649, 576
2,982,552
37,800, 778
1,935,089
56,117,955
44, 210, 399
35, 322,104
27,400,125
23, 240,836
20, 212, 360
17,648,916
14, 790,172
13, 782,476
12, 406, 476
47,461,008
31, 527, 023
23, 587, 714
31,413, 622
21,114,782
14, 466, 332
9, 571, 461
8, 586,890
7,047, 608
4,059,109
12, 237, 468
7, 341, 641
3, 570,429
2, 655, 029
4, 736, 374
1, 320, 211
2. 551, 794
(2)
4, 520, 075
Number
Total tax 3f returns Net income
$10, 377
"226," 288
616,357
476,060
"335,333
"3387689
411,811
474,491
476, 797
909, 551
805,985
805,016
778, 706
772, 604
767,392
736, 591
670, 792
673, 500
646, 309
2,940, 961
2, 518, 348
2, 319, 716
3,802, 670
3,133,927
2, 516,013
1, 904,133
1,932,028
1, 751, 277
1,155, 729
4,016,417
2,822, 775
1, 504, 201
1,197, 923
2, 255, 516
650, 661
1,315,905
$3, 251,917
65,722
15, 382,845
11, 801, 772
8,488,725
11, 534,135
13,113,323
5, 256, 700
26,149, 220
7,230,468
14,179, 761
10, 629, 642
5, 717,933
10,187,112
1,809,880
8, 092, 702
796,977
6,950, 351
515,120
10,167,044
8, 347, 711
6,327, 317
5,134, 280
4, 359, 667
3, 726,415
3,041, 621
2, 773, 555
2, 684,463
2,075,400
7,697,342
5,136, 675
3,499,992
3,996,849
2,630, 795
1,908,232
1,102,495
988, 201
862, 884
763, 257
2, 249, 745
672, 845
920,673
(2)
()
2,624,404
$1,507
~ 627 831
135, 542
"82,"l49
~~52"755
71,731
82, 514
"74," 567
77, 055
146, 290
140, 287
140,121
138,914
144, 570
134,028
126, 273
124,411
129, 747
108,072
460, 514
388, 236
342, 635
462, 224
388, 649
319,648
219,105
223, 679
216,075
205, 591
705, 341
256, 367
389,987
(a)
()
1, 378,978
(*)
2, 463, 309
345, 857 1,171, 833, 651 51,134,158
310, 456
282, 360
286, 888
270, 759
327, 631
369, 855
373, 621
378, 859
374, 725
357,448
4,813
153
13,018
9,063
4,919
6,747
5,744
2,374
9,635
2,575
4,434
3,269
1,544
2,722
430
1,913
169
1,469
95
1,861
1,290
848
606
460
355
266
222
199
143
449
230
128
118
59
35
17
13
10
8
19
4
4
2
Total tax
1,006, 927,934 40,398, 845
848, 918, 593 28, 596, 559
872, 941,170 23, 914, 230
1,182, 411, 350 22, 502,123
1, 630,447, 207 43, 703. 471
2, 258, 945, 768 86, 825, 072
2, 392, 631, 092 110,659,199
2,093, 908, 574 73,796,361
1,995,011,009 64, 213, 839
1,975, 436, 222 64, 791, 507
1,133, 450
557,063
82, 436
245, 979, 617
8, 487,456
69, 623
61, 675
63,722
54, 534
65, 679
76,493
75, 376
76, 703
77,126
80, 300
198,442.985
161, 600; 241
168,607, 693
204,130, 790
280, 940, 214
366,846,042
365, 336, 866
349,434, 464
358, 624, 820
344, 266, 673
6,881,939
3, 965,454
3, 311, 606
2, 540, 943
5,109, 577
8, 208, 031
10,100,848
8,884,047
9,934,476
7, 508, 733
109
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Kansas
Iowa
Net income classes
(Thousands of dollars)
5,626
131
9,403
6,734
4,628
3,817
5,225
1,684
5,566
1,677
2,160
1,957
671
1,694
208
1,174
127
915
85
1,324
845
501
341
252
162
Under 1 (est.)1
Under 1 (est.)
1-1.5 (est.)i1-1.5 (est.)
1.5-2 (est.)i
1.5-2 (est.)-._
2-2.5 (est.)i
2-2.5 (est.)
2.5-3 (est.)i
2.5-3 (est.).—
3-3.5 (est.)i-3-3.5 (est.)
3.5-4 (est.)i
3.5-4 (est.)
4-4.5 (est.)i
4-4.5 (est.)
4.5-5 (est.)i
4.5-5 (est.)_—
5-6
6-7
7-8—
8-9
9-10
10-11
11-12.
12-13
13-14
14-15
15-20
20-25
25-30
30-40
40-50
50-6060-70
70-80
80-90
90-103
100-150
Number Net income
» returns
f
-
157
63
90
70
200
106
61
51
21
12
7
4
—
--
$3,807,404
62, 907
11,180, 902
8, 601,197
8, 093, 759
6, 543, 642
11, 885, 089
3, 737, 227
15, 041, 540
4, 716, 266
6, 909, 822
6, 357,107
2, 488, 732
6, 354, 377
875, 573
4. 975, 369
' 598, 409
4,325, 841
469, 992
7, 243, 646
5, 457, 212
3, 731, 475
2,887, 262
2, 387, 390
1, 698, 955
1, 809, 290
1,155, 845
1, 213, 668
1, Oil, 768
3,402,109
2, 356, 588
1, 687,402
1,731,978
929, 910
661, 532
461, 993
302, 094
(2)
700,146
Number
Total tax of returns Net income
$1,440
•~40,~848"
76, 391
""el," 048"
37, 275
"43," 273"
"51,552
48, 641
50, 695
108, 003
101, 461
79,848
79, 601
74, 272
08,199
74, 797
51,436
56, 667
50, 294
203, 518
182,410
161, 404
197, 277
130, 563
112,394
90, 609
65, 376
3,931
75
5,380
2,379
3,411
3,116
3,653
1,229
4,199
968
1,583
1, 322
603
1,557
147
1,231
80
989
72
1,015
660
466
296
207
159
134
85
81
75
183
93
37
37
17
13
$2, 542, 074
42, 863
6, 568, 732
3,195, 896
5, 970, 950
5, 382, 844
8, 283,171
2, 724, 005
11, 380, 388
2, 693, 580
5,085, 883
4, 300, 571
2, 238,153
5, 824, 317
625,264
5, 207, 389
378,114
4, 681, 768
394, 370
5, 536,122
4, 276, 325
3, 483, 843
2,497, 586
1, 966, 560
1, 669, 210
1, 538,122
1, 059, 730
1, 091,915
1, 083, 660
3,169, 667
2, 079, 945
1, 016,185
1, 280,802
756, 977
702, 799
254,404
(2)
Total tax
$1,257
~20,~892
"43," 568
35,062
"31,035
"51,"427
56, 917
58,198
85, 704
80,386
81, 534
71, 679
66,186
64, 404
65,223
50, 260
55, 574
59,202
199, 967
164,356
97,226
153,322
114, 650
117,862
46,212
(2)
00
218,906
150-200.
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500.
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and over
Classes grouped 2.
670,492
Total.
Summary for
years: 3
282,315
419,981
103,465
57, 788
148, 525,910
I, 790, 513
39,492
111, 404,165
2,041, 689
47,871
40,329
42,624
29,850
39,917
45, 023
40, 789
45, 349
49, 476
50,379
119, 454,155
96, 835, 681
109,841, 833
119, 218,130
174, 965, 757
222,103, 300
221,881,247
190, 436,034
203,015,362
198, 735, 930
2,005, 786
1, 441, 695
1, 403, 991
1,137, 299
2,355, 567
3, 924, 823
6, 216,041
3,310,099
2, 917,845
3,111,096
35, 600
30, 738
29, 643
27, 495
32, 660
37, 557
32, 929
35, 575
32, 732
34, 284
91, 867,863
71, 777,244
73, 547,043
91, 616, 462
127, 629,176
181,661,364
162,394, 758
157, 394, 402
153, 673, 20G
141,511,127
1,499,250
1,018,001
1,223,811
880,318
1,480,343
2, 547,829
2,928, 097
2,240,877
2, 756,049
2,222,306
preceding
1934
1933
1932...
1931
1930
1929
1928
1927.
19261925
For footnotes, see p. 126.
78020—38-
110
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Kentucky
Louisiana
Number
of ret urns Net income
Number
Total tax of returns Net income
Net income classes
(Thousands of dollars)
Under 1 (est.)1Under 1 (est.)
1-1.5 (est.)1
1-1.5 (esc).
1.5-2 (est.)1
1.5-2 (est.)
2-2.5 (est.)1
.2-2.5 (est.) 1
2.5-3 (est.)
2.5-3 (est.).
3-3.5 (est.)1
3-3.5 (est.) 1
3.5-4 (est.) 3.5-4 (est.)
4-4.5 (est.)1
4-4.5 (est.)._
4.5-5 (est.)1
4.5-5 (est.)
i
5-6
6-7
7-8..
8-99-10
10-11
11-12
13-14
14-15.
15-20..
20-25
—
25-30
30-40
40-50
60-60.60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000.
4,000-5,000
5,000 and over 2
Classes grouped .
Total
S u m m a r y for preceding years:
1934
1933
1932
1931
1930
1929
1928
1927...
1926
1925
.
For footnotes, see p. 126.
2,347
116
6,041
3,646
3,086
2,375
3,331
1,160
4,295
1,246
1, 976
1,566
762
1,244
299
984
140
665
131
1,118
773
516
368
257
196
173
123
93
76
271
150
77
78
38
19
10
9
2
2
7
4
2
1
$1, 610,820
74, 951
7,320,215
4,689, 933
5,362,665
4, 066,363
7, 567, 562
2, 540, 647
ll,6t)3,216
3, 495, 020
6,334, 727
5, OoO, 696
2, 815,196
4, 642, 911
1, 260,147
4,179, 832
669, 0^0
3,154, 829
709, 279
6,123, 285
4, 985, 083
3, 864, 028
3,140, 636
2, 435, 593
2, 054, 522
1, 984, 264
1, 539,814
1,251,331
1,100,329
4, 654,189
3, 335, 210
2,081, 540
2, 658, 066
1, 685, 057
1, 057, 776
632,610 I
687, 622
(2)
(;
865, 793
644,918
(2)
1, 090,943
$1,354
~2i~723"
42,379
36,266
26, 552
"§4,"ll6"
'~38,~759"
39, 864
38,896
87,885
83, 803
84, 204
82,611
78,801
73, 832
79, 548
67, 111
56, 484
55, 902
280, 261
253,953
191,181
324, 501
215,170
185, 264
120,711
157,487
(2)
2,525
19
5,163
4.371
2,486
2,195
2,779
1,094
4,584
1,342
2,265
1,771
774
1,633
236
1,331
111
987
72
1,524
870
453
311
214
181
134
83
65
56
201
109
47
69
24
16
11
$1,623,047
9,943
6,102,067
5, 541,869
4, 355, 240
3, 7t>8,436
6,3*3,429
2, 441, 262
12, 494, 452
3,760,146
7, 232, 887
5, 779, Oil
2, 839,312
6,102, bOl
994, 911
5, 657, 427
519, 751
4, 678, 973
387, 052
8,302, 737
5, 625, 298
3, 374, 748
2, 634, 573
2,022,482
1,893, 863
1, 531, 412
1,031, 033
878,940
809, 839
3, 459, 844
2,425, 544
1, 295, 529
2. 379, 665
1, 036, 683
891, 944
720, 476
446,187
417, 216
Total tax
$194
"24," 256
40,683
30,696
"29,"745
46,796
65,414
"70," 532
65,734
148,032
122,249
99,411
94,055
81,476
83,224
75, 724
54,935
52,407
46,650
233,885
215,222
135, 714
306, 353
159, 578
165, 716
149,837
105, 850
97, 516
()
291, 051
242,312
()
417, 304
771, 899
263,667
39, 763
125,101,178
3, 742, 279
40,123
122, 582, 017
3,065, 551
35, 333
32, 332
32, 454
26,991
31,021
34, 623
35. 367
33, 004
32, S21
37,315
107,389,715
90,753,611
89, 484, 542
103, 279, C06
135, 098, 479
191, 640, 708
193, 76o, 254
172, 582, 213
169,100, 987
180,217,420
2, 726, 762
2, 024, 772
1, 554, 630
1, 012, 557
1, 920, 048
5, 076, 854
5, 639, 394
4. 027, 734
3, 226, 344
3, 299, 792
36, 871
33, 094
33, 974
28, 934
32, 979
35, 093
36, 981
37, 293
38, 996
40, 695
106,168, 279
86, 809, 253
92,164, 323
107, 673, 824
138, 836, 043
170, 713, 998
184, 035, 325
175, 254,161
185, 478, 850
195, 585,488
2, 296,812
1, 497, 560
1, 423, 510
891, 912
1, 599, 639
2, 859, 568
4,380, 028
3,174,839
3, 311, 535
3, 850, 206
111
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, shotting number of returns, net income and total tax; also totals for preceding years—Continued
Maryland
Maine
Net income classes
(Thousands of dollars)
Under 1 (est.)1
Under 1 (est.)
1-1.5
1-1.5
1.5-2
1.5-2
2-2.5
2-2.5
2.5-3
2.5-3
3-3.5
•3-3.5
3.5-4
3.5-4
4-4.5
4-4.5
4.5-5
4.5-5
(est.)i
(est.)(e^t.) 1
(est.)
(est.)i
(est.)-..
(est.) 1
(est.)
(est.)L
(est.)
(est.) 1
(est.)
(est.) 1
(est.)
(est.) 1
(est.)
_-.
—
-
5-6 i
5-6—8-7
7-8—8-9
9-10
_
10-11
11-12
12-13
13-14
14-15
15-20.
20-2525-30..
30-40—>—
40-50
50-60
80-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300.
300-400
400-500.
500-750750-1,000
1,000-1,500
.-_.
1,500-2,000
2,000-3,000
.._
3,000-4,000
4,000-5,000
5,000 and over
Classes grouped 2_
Total.
Summary for preceding years: 3
1934
*
.
1933
.
1932
1931
1930
1929
1928.
1927.
1926
_..1925.
For footnotes, see p. 126.
Number
of returns Net income
1,471
99
3,138
2,454
1, 552
1,209
1,696
532
2,351
557
1,119
908
408
665
160
487
96
453
45
623
446
281
192
157
92
85
70
60
38
165
65
39
48
23
17
7
6
2
2
4
2
$956, 556
54, 967
3, 728,984
3,118,148
2, 699,165
2,066, 579
3,849, 597
1,176, 232
6,409, 260
1, 555, 758
3, 572, 848
2,943,925
1, 518, 549
2,481,164
680, 515
2,0.50.120
454,629
2,138, 747
244, 215
3,390, 340
2,886,626
2,096,112
1,625, 653
1,490, 215
964, 053
971, 622
871, 739
809, 025
550, 764
2,833, 694
1,430, 722
1,063, 847
1, 672. 376
1,022,917
935,120
452,622
444, 313
8
453,199
(2)
Number
Total tax of ret urns Net income
$986
21,865
" 17," 124"
13, 317
"21,684"
22,685
"26," 899"
26, 417
50,096
49,379
47,396
44,062
48, 231
34, 751
38,440
36, 860
37,953
28, 490
170, 623
117, 288
96, 260
198,097
143,283
158, 063
87,688
98,486
(2)
()
138,165
(2)
4,492
498
10,927
10, 838
5,592
5, 385
6,391
1,867
10, 254
3,189
4,945
4,174
2,330
3,900
633
2, 667
308
2,149
178
3,488
2,038
1,337
911
651
499
365
294
263
187
688
357
219
199
136
68
48
23
12
7
23
5
5
2
4
1
3
1, 790, 534
i9,455, 451
2, 567, 514
92, 550
20, 584
19, 435
20,867
16, 218
17,829
19,173
18, 611
18, 710
19, 709
19, 444
63, 204, 584
55,819, 385
62, 981, 334
74, 771,180
90, 690, 507
115,875,339
111, 558, 275
103, 080, 848
107, 979,178
97, 927, 563
2, 207, 930
1,865, 414
1, 597, 284
1, 527, 436
1,827,849
3, 561, 754
4,262, 498
3, 300, 741
3,419, 490
2, 718, 60S
84, 395
76, 409
83, 223
60, 898
68, 426
68, 654
65, 258
65, 099
67,160
66,152
7, 975, 838
5,967,650
6,876,182
6,015,099
3, 710,200
3,112,034
1, 749,048
1,016,643
652, 333
2,697,266
819,552
1,078, 591
(2)
1, 365,285
(2)
1, 718,352
784, 799
21,826
$3,128,891
264, 556
13, 031, 986
13, 738, 827
9, G99, 428
9, 200, 241
14, 551.188
4,152, 066
27,955, 709
8,979, 716
15, 777, 735
13,647, 747
8,622,642
14, 579,846
2, 649,135
11, 284,985
1, 456, 571
10,181, 000
971, 341
19,064,410
13,174,872
9,983, 097
7, 714, 803
6,164, 781
5, 232,992
4,189,106
3, 670,286
3, 545,112
2, 710, 306
11,774,177
Total tax
$5,990
~59~Ii2
59, 657
66,450
"787607
98,520
"I64~l99
"113,769
288, 530
233,257
222,687
216, 606
203,962
198,400
174,666
165,856
172,728
139,595
710, 453
633,319
578,356
838, 807
879,934
639,145
613,444
387, 228
254,347
172,947
862,764
310,634
448,864
(2)
626, 712
00
859, 251
496,186
12,013, 217
282, 624,171
241,613,015
265, 618, 871
277,129, 170
354, 627, 248
425,185, 985
409,371, 465
390, 671, 215
375, 758, 859
362,484,950
11,040, 490
8,488,451
7,978,435
5, 52S, 213
9, 796, 084
15, 641, 824
16,126, 803
13,859, 686
11, 517,168
11,623, 229
112
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Michigan
Massachusetts
Net income classes
(Thousands of dollars)
Under 1 (est.)1
Under 1 (est.).
1-1.5 (est.)1
1-1.5 (est.)-1.5-2 (est.) 1 1.5-2 (est.)._
2-2.5 (est.)1
2-2.5 (est.).2.5-3 (est.)1
2.5-3 (est.)
3-3.5 (est.)1
3-3.5 (est.)
3.5-4 (est.)i
3.5-4 (est.)1
4-4.5 (est.)
4-4.5 (est.)1
4.5-5 (est.)
4.5-5 (est.)._
5-61
5-6
6-7
7-8
8-9—
10-11
11-12
12-13
13-14—
14-15.,
15-20—
20-25—_
25-30
30-40
40-50
50-60
60-70
70-80_
80-90.
90-100100-150
150-200.
200-250_
250-300.
300-400.
400-500..
500-750..._
750-1,000
1,000-1,500.
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and over—
Classes grouped 2
TotaL
Summaryforprecedingyears:;
1934.
1933...
1932..
_...
1931
1930
1929—
1928
1927
1926
1925.
For footnotes, see p. 126.
Number
of returns
Net income
Number
Total tax of returns Net income
257,495
242, 728
231,960
249, 766
193. 504
202,253
213,316
215, 559
214. 356
224,042
221,530
$14,109, 693
335,439
44, 754,730
29,976,122
37, 259, 637
31,000,194
48, 205,230
20,007,683
68,399,288
18,496, 885
34, 301, 800
26, 233,014
13,756,152
29,228,040
6, 546,915
29,149, 693
4,100.185
27, 614,716
2,379,000
33,402, 812
28,399,022
22, 866,166
18,380,240
15, 683, 699
14, 763, 427
12,073,315
10,570,137
10, 646, 520
8, 203, 948
33,017,453
23,241,900
18,102,905
23, 323, 845
16,578, 590
11, 741, 382
7,036,284
4. 644, 761
3,186, 968
3, 491, 023
7,191,783
5, 460, 429
2,210, 442
1.103,176
2,333,064
(>)
480, 912
479, 671
500,305
499,322
501, 862
532, 687
485, 749
458,979
497, 828
418,541
1,952, 414
1,779,344
1,722,258
2, 758, 613
2,402,672
1,997,016
1,353,978
1,047, 209
781, 609
953, 697
2, 308,034
2,096, 747
953,092
522,061
1,102, 556
(2)
1,819, 700
21,577
640
37,207
23,233
21,492
18,016
21,302
9,002
25,187
6,684
10, 721
8,082
3,707
7,796
1,551
6,859
867
5,820
436
6,119
4,391
3,058
2,169
1,655
1,409
1,051
847
790
566
1,922
1,045
663
677
374
216
110
62
38
37
61
32
10
4
7
1
1
1
976, 860
$7, 822
152,313
359, 784
"314," 580"
241,063
~24l,~929"
~283~948
305,196
333,512
825, 327, 457 31,804,163
737, 044,841
682, 666, 696
735, 390, 899
800, 923,153
1,010, 333,740
1,371, 651, 741
1, 357, 076, 374
1,189, 273, 214
1,147, 576, 498
1,132, 239, 870
24, 624, 216
19, 763.997
15, 619i 149
12,380,194
26, 509, 775
57,857, 223
59, 738,973
43,949, 866
37,115,976
41.052,088
Total tax
10, 279
308
25, 822
11, 675
12, 517
18,919
12, 556
7,616
17,609
4,568
8,058
5,983
2,841
6,198
1,089
5,669
438
4,034
209
4,420
2,946
1,869
1,401
1,056
803
634
515
436
364
1,074
581
324
365
204
130
78
56
31
22
59
21
13
7
9
$6,674,193
192, 778
30, 671,120
15,943,736
21,675, 686
32, 468,915
28,458, 776
16, 829,133
47,846,224
12,576,122
25, 765, 481
19,448,320
10,483,791
23,248,283
4,579, 514
24,070, 773
2,073,227
19,098,043
1,133,074
24,129,882
19,056,041
13,963, 633
11, 859,695
10,017,915
8, 405,469
7, 283, 411
6, 429,161
5,891,032
5, 266, 500
18,400,917
12,938, 896
8,882,995
12,510,967
8,999,958
7,040, 738
5,060,863
4,216,303
2, 613,886
2,115, 627
6,947,114
3,713,985
2,958,663
1, 858, 251
2, 963, 232
3, 564, 576
7,944,900
4,428, 337
173, 799
568,269, 799
28,319,046
139, 329
418, 569,373
112,053
293,131,080
127, 515
349, 800,109
119, 623
481,017, 650
147, 364
668,391,038
177,918 1,029, 756, 680
179, 886 1,066,529,992
175,806
950,085, 831
176, 804
905, 814, 790
910,910,113
$4,962
~iO9~853
395,814
"276," 547
184,921
~ 182," 527
205,368
247, 287
215, 625
348,912
331,017
302,140
319, 763
319, 722
314, 922
300, 265
283,305
285, 722
275, 609
1,113,145
999,084
859, 681
1, 186,267
1,298,021
1, 213, 411
988,036
935, 679
652,412
582,157
2, 220, 433
1, 453, 311
1,265,167
815,167
1, 345, 668
1,758,789
14, 866,008
6, 680, 804
8,380, 316
11,028,018
17, 479,145
40, 599, 864
50, 601,040
35, 599, 799
32, 408, 357
33, 264,014
113
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Minnesota
Mississippi
Number
of returns
Net income
Number
Total tax of returns Net income
4,037
267
10,011
9,889
5,184
5, 095
6,084
1, 763
7, 693
2,017
3, 214
2,409
1.202
2,139
381
1,496
166
1,184
119
1,993
1,378
957
599
482
381
289
226
192
143
518
257
157
150
56
51
27
19
$2, 663, 968
135, 758
11, 792,049
12, 586, 543
9,047, 862
8,675, 358
13,827, 790
3, 866, 455
20,883, 016
5, 708. 976
10, 277,294
7, 835, 544
4,491,166
8,008, 5G6
1,603,216
6,357,403
780, 710
5,614, 322
651, 085
10,908,229
8,926,483
7,141,646
5,073,226
4, 574.170
3,992, 944
3,307, 6.44
2, 827. 255
2,588, 550
2,070,042
8,942,859
f», 725,223
4, 296,871
5,147,182
2,493, 903
2, 748,393
1,746,504
1.391.672
837 638
471,604
1, 238, 985
524.185
Net income classes
(Thousands of dollars)
Under 1 (est )l
Under 1 (est.)
1-1 5 (est )i
1-1.5 (est.) l
1 5-2 (est )
1 5-2 (est)
2-2.5 (est.) 1 -.
2-2.5 (est.)
2 5-3 (est )i
2 5-3 (est.) .
3-3 5 (est )i
3-3.5 (est.)
3 5-4 (est )i
3.5-4 (est.)
4,-4 5 (e<;t )i
4-4 5 (est)
4 5_5 (es£ )i
4.5-5 (est.)
5-6 i
5-6
-.
—
. -
.......
8-7
7-8
.
8-9
9-10
10-11
.
11-12
12-13
13-14
14-15
15-20
20-25
25-30
30-40
40-50
50-60
«0-70
70-80
30-80
90-100
100-150
HO 200
900-°50
250 300
.
.. .
__
30Q~<*00
400-500
500 750
750 1 000
1 000-1 500
1,500-2,000
2 000-3 000
3 000 4 000
4 000-5 000
5 000 a n d over
Classes g r o u p e d
_._.
...
.
...
11
3
2
$2,033
56, 770
96,972
58,878
42, 632
49,469
58, 798
57,216
64, 665
162,234
153,181
155,342
138,873
148, 269
144,408
132.266
12S, 125
120, 551
104,190
538,745
434,842
399,112
598.069
357, 504
464,803
345,135
303, 763
197, 277
129. 269
400, 562
200,394
1 605
36
1,791
1,107
1 349
741
1,491
273
1,407
350
577
456
224
399
66
340
13
182
16
335
209
141
91
62
48
37
36
26
25
63
28
15
9
11
3
1
1
1
$979,211
17,353
2, 203, 576
1,410,327
2,352,923
1, 287, 294
3,369,978
610,387
3,824, 499
984,341
1,837,331
1, 480,347
822,199
1,492,486
285,157
1, 433. 952
63, 3'C0
860,436
85,758
1,822,428
1,351,538
1,048,432
770,917
585,113
501,810
423,702
451,871
349, 832
360,959
1, 084,239
619,357
403, 235
309,861
492,319
163. 371
00 '
(;)
$485
6,659
15,493
9,293
7,235
8,9.58
11,382
14,448
9,951
26.697
22,104
23,649
21, 708
17,413
18,791
18,254
21,920
16,248
17, 592
66,203
46,904
37,661
37,180
70.002
29,142
(*)
(-)
(2)
1
1
Total tax
(2)
(2)
|
I
1—
2
S u m m a r y for preceding years: 3
1934
1933
1932
1931
1930
1929
1928..
__
1927 .
.
.
1926
1925
For footnotes, see p. 126.
985, 616
428,621
738, 858
294,655
72, 258
222, 817, 905
6, 672, 968
13, 570
36,878, 747
870,027
67, 297
59. 803
61,810
52 853
57,539
60, 701
60, 752
61, 439
64, 227
7.1, 291
196,345, 236
163 750, 734
173,772,099
213 530 771
266, 572, 313
337, 880, 743
340,152,949
295,670,416
296, 414, 294
305, 945, 206
5, 257, 595
3,817,982
3,477, 895
2, 445, 441
4, 744,380
9, 799,141
11,925.077
7.383' 307
6,475,311
6,125,915
12, 507
10, 868
10, 548
9,888
12,147
15,689
16,140
16, 964
17, 196
16,985
32, 578,332
24,020, 766
21, 584,610
27,146. 285
40, 556,389
63,922,168
64, 689. 480
64.878,684
64, 859,892
73, 750,950
479,717
271.063
133,566
87, 221
251, 781
600,078
763. 702
816,429
643,744
989,451
-
Total
114
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total lax; also totals for preceding years—Continued
Montana
Missouri
Net income classes
(Thousands of dollars)
Under 1 (est.) *
Under 1 (est.)._
1-1.5 (est.) 1
1-1.5 (est.)
1.5-2 (est.) l
1.5-2 (est.)
2-2.5 (est) i
2-2.5 (est.)
2.5-3 (est.) *
2.5-3 (est.)
3-3.5 (est.) *
3-3.5 (est.)
3.5-4 (est.) *
3.5-4 (est.)
4-4.5 (est) 1
4-4.5 (est.)
4.5-5 (est.) i
4.5-5 (est.)
.
5-6
6-7 .
7-8
8-9
9-10
__
10-11
11-12
12-13
13-14
14-15
15-20-_
20-25
25-30
3KM0
40-5050-60
60-70
70-80
80-90 _
90-100
100-150__ _
150-200
200-250
250-300
300-400
400-500500-750
750-1,000
1,000-1,500...
1,500-2,000
2,000-3,000
3,000-4,000. _
4,000-5,000
5,000 and over
Classes grouped
Number
of
returns
5,744
258
16, 765
11, 248
8,644
7,239
9 308
3,010
12, 266
2,781
5,177
3,977
1 690
4,025
529
2,837
221
1,992
182
2, 983
2,065
1,367
1,053
793
567
471
414
315
285
835
425
279
265
138
76
50
23
21
10
31
7
1
1
3
1
2
Total
Summary for preceding years:
1934
1933
1932
1931
.
1930
1929__.
1928
. .
1927 .
1926
1925
For footnotes, see p. 126.
Net income
$3,946,096
146,494
19. 966,464
14,469, 444
15, 037, 054
12, 435, 425
21,157.203
6,596,419
33. 245, 658
7. 759, 848
16, 518, 930
12,966, 616
6, 258. 702
15,055,327
2. 217,855
12,045, 076
1, 047, 750
9, 440,094
985, 868
16, 321, 091
13, 365, 819
10.231,563
8, 940, 455
7,512.740
5. 943,036
5, 396. 935
5,162 859
4, 249 059
4,130. 583
14,310 983
9,462.873
7, 602, 959
9 114 434
6,111.911
- 4.190 673
3, 236. 226
1,742.021
1 781 472
935 396
3,817 661
1,192,167
(2)
(2)
980, 088
(2)
Total tax
$2,739
71,312
143,751
102, 080
77,360
82, 761
124, 276
120,524
113.255
242. 539
226, 337
220,448
240,825
239,567
217, 679
219.875
225. 929
202,635
211,102
841, 907
719. 634
715.900
1,076, 778
886. 699
713,475
664. 636
391,563
438. 926
249 043
1, 250, 757
455, 743
(2)
Number
of
returns
295
9
2,522
1, 783
1,040
2,601
1,026
1,129
2,812
749
1,055
788
363
830
131
707
53
432
29
520
308
182
143
99
59
41
40
34
15
65
26
15
13
5
2
1
1
(2)
454,864
1
Net income
$169, 591
4,869
2,978,933
2,379, 758
1,802, 422
4, 468,841
2, 343. 686
2, 479,305
7, 654, 572
2,071, 751
3, 366, 225
2, 564. 524
1,332,650
3,108. 364
546, 256
2,999,825
253, 238
2,048, 717
157, 207
2,839.483
1,980.875
1,354,703
1, 208, 731
939. 600
616, 797
469, 346
498, 388
456.975
216.712
1,116.307
580.534
420,106
438, 581
221,680
i
(2)
Total tax
$149
15,172
54, 551
40,132
29,671
17,959
25,881
30,282
22, 983
42, 250
35. 056
30. 777
34, 593
31. 447
22, 786
20, 229
21,010
24,223
11,572
69, 576
44, 858
41, 490
50,121
30,419
(2)
<*)
(2)
1. 038. 819
481,314
630,179
233,978
110, 370
358, 068.146
12.426.233
19, 924
56, 719, 731
981,165
98.125
93, 308
95,808
80, 356
85, 507
98,367
99, 295
96, 407
99, 509
109,059
306. 041, 392
271. 748. 278
290,701 858
331,482,726
419,648,187
558,127,649
563,951,553
501.495, l?0
512.801,163
533,836,188
9, 353, 651
6, 848, 926
6,874, 748
4, 747, 522
8. 750, 374
16,416,897
18, 910, 977
13, 738, 256
13,4%, R72
14, 246,816
16, 825
11,511
10,087
9,722
11, 635
17,067
17,112
18, 651
16,191
19, 239
46, 594,430
29, ?77,422
28, 221,605
34, 667, 097
45, 495. 235
71,397,232
72.908,121
69, 654, 023
59,289,994
66,825,486
636,102
403, 887
496,685
209, 809
461,295
1,019,300
1, 298, 024
867, 944
561,833
580,196
115
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Nevada
Nebraska
Net income classes
(Thousands of dollars)
Under 1 (est.) 1
Under 1 (est.)
1-1.5 (est.) »
1-1.5 (est.)
1.5-2 (est.) i
1.5-2 (est.).
2-2.5 (est.) i
„
2-2.5 (est.)
2.5-3 (est.) l .2.5-3 (est.)
3-3.5 (est.) 1
3-3.5 (est.)
3.5-4 (est.) !
3.5-4 (est.)
4-4.5 (est.) *
4-4.5 (est.)
4.5-5 (est.) i
4.5-5 (est.).-.-.
5-61
5-6_
6-7
7-8
8-9.
.
9-10.
10-11
11-12._
12-13.
13-14
14-15...
15-20
.
20 25.
25-30._ . . .
30-40
_.
40-50_ _
50-60
.
60-70.
70-80
__
80-90
90-100
100-150
150-200
2OO~2,J:i0
250-300
300-400
. .
400-500
500-750
750-1.000
1,000 1.500
1,500-2.000
2 000-3 000
3,000-4.000
4,000-5,000
5,000 and over
Classes grouped a _._
Total..
Summary for preceding years: 3
1934
1933_
1932.
1931
1930
1929
1928 . .
1927__
—
1926
1925
For footnotes, see p. 126.
Number
of
returns
Net income
$1,376,601
40,523
4, 610, 689
3, 418,453
3, 880. 348
3,610.630
6, 702, 730
2, 252, 961
10, 514, 329
2, 634. 440
4,998,465
3, 857, 585
2,078,158
3,800,174
860,488
3, 705, 624
306,077
3, 375, 482
202, 279
4, 758, 764
3, 984, 554
2,870, 670
2,102, 572
2,076,190
1, 527, 361
1,377,194
1,016,671
928, 886
826,178
3,171,207
1,821,773
1,246,751
1,496,788
668. 771
54'!, 953
2,178
84
3,803
2, 628
2 206
2,098
2, 934
1,017
3, 865
942
1, 559
1,181
561
1,014
206
875
64
713
37
868
617
385
248
219
146
120
82
69
57
.184
82
46
44
15
10
1
3
1
1
Number
of
returns
Total tax
234
1
698
863
404
572
510
220
806
204
319
306
103
267
19
205
12
132
3
203
119
61
35
25
12
13
7
14
4
21
12
$1,084
18,466
43, 267
34, 282
26, 349
27, 491
33, 984
37, 398
38,194
73, 534
70, 847
65, 776
59, 762
73, 771
58. 649
59, 795
46, 787
43, 737
43,487
195, 530
142, 206
121,467
180,150
93, 502
96,133
(2)
12
8
2
3
1
2
(2)
224, 665
48,572
(2)
(2)
(2)
Net income
$151,501
900
830,259
1,115,432
700,836
976.915
1,159,049
483,129
2,189, 741
574, 943
1,019,450
990, 827
384,686
1,000,785
77,188
864, 297
58, 002
624, 706
15 446
1,111,270
767, 744
451, 880
296,112
234, 282
126,010
150,834
87,479
190, 417
57, 656
351,580
271, 201
78,043
406, 929
375, 302
191,795
Total tax
$32
5,565
10,464
6,821
4, 335
7,455
10, 502
10,385
9,899
22,150
17, 607
14, 443
11.166
9, 285
5,636
6,417
4,457
11,134
3,729
21,474
21, 626
7,798
50,255
58,948
36,801
(2)
(2)
4
434, 239
126,724
1
1
(2)
I
1
"
....
...
""
(2)
—
241, 342
61, 420
1, 880, 519
868, 543
31,253
93,113,326
1,795,640
6,441
20,681,384
1,363,651
26, 781
24,939
25, 503
23,940
27, 271
30, 9«2
31. 426
32,170
33,532
35,661
77, 236, 225
65,022,543
66,007, 036
86,120,131
113,934, 843
140, 322, 452
139, 471,054
130,131,079
134,153,838
141, 877,975
1,438, 974
1,133, 297
970, 563
723, 426
1,381,310
1,919,473
2,109, 341
1,427,747
1,381,307
1, 732,535
5, 321
3, 692
4.102
3, 431
4,006
5,174
4,477
4,702
4,797
6,164
15, 23*?, 981
9, 772, 417
10,867, 743
14,041,657
16,688,195
21, 597, 783
20,109,392
17, 443, 233
16, 795,822
19,661,369
528,009
380, 800
362, 378
349,026
472, 636
356, 444
477,673
2"28, 799
195, 497
178, 361
116
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
New Hampshire
New Jersey
Net income classes
Number Net income
of returns
(Thousands of dollars)
Under 1 (est.) i
Under 1 (est.) .
1-1.5 (est.) i
1-1.5 (est.)
1.5-2 (est) i
1.5-2 Test.)
2-2.5 (est.) i
2-2.5 (est.)
2.5-3 (est.) i
2.5-3 (est.)
3-3.5 (est.) i
3-3.5 (est.)
3.5-4 (est) i
3.5-4 (est.)
4-4 5 rest) i
4-4.5 (est)
4.5-5 (est/> i
4.5-5 (est.)
5-6
6-7
7-8
8-9
9-10
10-11 . .
11-12
12-13
13-14__.
14-15
15-20
20-25
25-30 . _
30-40 _.
40-50
50-60
.
60-70
70-80
80-90 . .
90-100
100-150
150-200
200-250
250-300 _
300-400
400-500
500-750
750-1,000 .
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and overClasses grouped
_._
_ ...
1,311
76
3,100
2,108
1,306
1 123
1,281
410
1,645
488
812
658
337
461
89
3G6
73
275
39
455
285
206
147
99
82
69
56
31
44
115
47
20
30
13
11
7
3
1
1
6
1
$837, 257
34,143
3, 678, 647
2, 698, 050
2 272, 651
1, 910, 548
2, 902, 394
896, 924
4, 465, 951
1, 379, 321
2 614,831
2,135, 572
1, 246, 261
1, 724, 644
377 000
1, 547, 053
348, 270
1. 302, 999
209, 493
2, 500,905
1, 839, 813
1, 531, 266
1,241,447
933, 898
859, 079
797,767
700,020
418,164
635,139
1, 987, 293
1, 046, 563
550,100
1, 006, 033
570, 746
595,361
443,293
234, 204
(»)
(2)
682, 900
(2)
Total tax
$523
12, 543
20, 645
13, 029
11,195
13, 780
13,459
14,128
12, 944
34,053
27, 980
33, 350
31, 658
29, 965
31,292
31, 562
29, 668
18, 429
30. 545
112,593
77, 673
53, 815
110,456
78, 993
102,130
83, 420
53,480
<2)
(')
205, 268
(2)
Number
of returns
12,195
937
32,981
22,352
16,714
13, 219
16, 709
6,067
25, 334
6,557
12 326
8,578
4, 692
7,754
1 665
5 591
667
3,860
295
6,246
4 437
2 901
2,131
1 502
1,114
878
718
593
507
1,553
801
469
475
229
135
81
55
33
24
56
25
!
?
4
4
2
3
Net income
$8, 286, 596
540,373
39, 246. 260
28, 552; 861
28,799,364
22, 671, 707
37, 961, 687
13,441,840
68, 891,186
18, 371,872
39,419,937
27,940, 378
17, 297, 249
29,011,885
6 998 300
23, 700, 537
3,153,833
18, 313,101
1, 600, 537
34,147,757
28, 669, 767
21, 666, 703
18,050,820
14, 253, 838
11,681,725
10,069,977
8, 960, 809
7, 986, 201
7, 341, 483
26, 697,152
17, 785, 572
12,836, 350
16, 264,170
10,192, 049
7,379,147
5, 246, 845
4,140, 295
2, 760, 598
2, 288, 319
6, 653, 613
4, 250,997
2, 230, 970
1,889, 530
1 319 361
1,826, 530
2
For footnotes, see p . 126.
139,551
251,699
204,557
163,205
187, 692
211,873
217,839
206, 485
480, 617
492,441
472,104
493,324
465, 206
431,620
403,884
397, 364
388,412
376,647
1, 627, 584
1,411,307
1, 245,038
1,942, 533
1, 530,483
1,288, 678
1,034,437
947, 512
675,416
647, 526
2,143, 088
1,635,804
952, 362
832,090
608 908
883,929
(2)
(2)
(2)
10, 376,699
5,950,013
419, 941
146, 606
5, 988,172
3, 253, 615
17,687
51, 553,939
1,435,182
223,489
737,154,952
34, 603,809
16,785
15,458
15. 738
12,477
13, 927
14,341
14,132
14,484
15, 276
16,413
48, 267,423
41, 555, 501
43,85-1, 575
49, 243, 306
60,014, 739
74, 306.913
72,610,266
70, 560, 949
66, 743,817
70,117,771
1,348,492
833,674
746,847
563,289
952, 064
1, 734, 828
1,991, 854
1,824,931
1, 201, 298
1,218, 822
210,683
202,190
217,812
178,754
187,943
195, 772
196,681
195,467
176,320
150,874
686,065,373
618,361,894
689, 687, 207
785,764,184
956,732, 849
1,212,423,226
1,241,411,359
1,117,398,064
1,032, 297, 571
943, 672.751
29,121,247
23,002,182
22,079,975
13,971,251
23, 219, 240
43,956,017
51,889,941
38,911,894
32,858,092
32,383,155
,_
Summary for preceding years:3
1934
1933
1932.
1931
.
1930
1929
1928.
1927
1926 .
1925
$10,966
(2)
3
Total
Total tax
117
STATISTICS OF INCOME
TABLE 9.—Individual returns for 193d, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
New Mexico
New York
Net income classes
Number
of returns Net income
(Thousands of dollars)
Under 1 (est.) l
Under 1 (est.)
1-1.5 (est.) i
1-1.5 (est.)
1.6-2 (est.) i—
1.5-2 (est.)
2-2.5 (est.) i
2-2.5 (est.)
2.5-3 (est.) i
2.5-3 (est.)
3-3.5 (est.) i
3-3.5 (est.) 1
3.5-4 (est.)
3.5-4 (est.)
4-4.5 (est.) *
4-4.5 (est.)
4.5-5 (est.) i
4.5-5 (est.)
-
—.
_..
..
--.
---—
-
-
-------.
5-6.
6-7_
7-8..
9-10
10-11
11-12
12-13
13-14
14-15
15-20
20-25
25-3030-40 ..
40-50
50-60
60-70
70-80
80-90
90-100.-..100-150150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
-
---
735
938
648
694
801
789
357
1,099
336
480
488
177
343
40
282
19
182
16
289
177
87
43
35
2G
12
14
12
2
29
10
7
8
3
1
$456, 368
1, 200
1,145, 670
853, 267
1,206,838
1, 538,506
1, 794, 590
797, 426
2,993, 561
937, 690
1, 529,973
1,592,770
652, 870
1,283,949
168,838
1,190,566
91, 738
857, 997
88,106
1,575,120
1,140, 732
648,601
365,973
330,719
275, 651
137, 306
174 743
164, 365
(2)
495, 091
223, 834
200, 662
271.473
133, 978
(2)
_„-._.
.
.
.
_.._
._.
.
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000.
4,000-5,000
5,000 and over
Classes grouped >
Total
...
..
-
S u m m a r y for preceding years:3
1934
.1
1933..—.
1932
1931
.
1930.
1929
1928
1927
1928
.
!
1925
For footnotes, see p. 126.
Total tax
Total tax
j
58,826
2,203
126, 649
~4,"834~
77, 026
62,454
60,178
17, 637
67,097
28,121
~I6,~857
92, 74S
21,830
9,837
41.166
25, 968
12,704
13,841
13,088
25,403
4,466
14," 178
21,063
1.769
" 12." 191" 15,853
1,086
27, 340
22, 834
26,558
18,118
19, 783
11,192
12,360
8,063
13.636
6,190
12,858
•1,881
5, 959
3,882
9, 039
3, 170
9,588
2,781
2
2, 397
()
7, 724
32, 354
4,275
18.012
2, 569
21.434
3,013
32,0)2
1.688
19,426
(2)
972
645
429
333
201
516
191
85
52
47
25
31
6
11
3
1
3
1
$28
$40,422,039
1, 203,355
$23,341
151,843,825
99, 746,968
~521.~63§
108,078, 739
104, 094,318
1, 251,840
152, 268, 641
62, 213, 601 "I,669~451
252.640,136
60, 549, 54
744, 645
131, 681, 273
84, 543, 268
737,541
51,097,649
95, 282, 319
856,229
18, 752,337
89, 330, 494
'917,036
8, 376, 469
75,169,379
915,943
5,81)8, 598
124. 732, 321 "l,~954~977
104, 221,459
1,941,300
83. 580,066
1.907,257
68, 314, 777
1,939,873
58. 664,521
1, 962,167
51,161,345
1,950.127
44, 585, 762
1.888, 305
39. 584, 942
1,808,809
37, 496, 33a
1.855,117
34, 738, 734
1,830,461
133, 079, 571
8, 260.018
95, 291, 307
7, 584,100
70, 218, 543
6,93/3,164
103,661,890
12,595,470
75. 170, 291 11.168,901
53,221,678
9,355,154
41,808, 035
8, 410,929
31,932,854
7,212,708
28. 087, 558
7,039, 539
19,091,881
5, 327,964
61,6313.510 20, 314, 822
33, 208, 6S0 13,081,091
18,900,201
8,064,574
14. 313,070
6, 480. 631
16,201,171
7,635,063
11,151,849
5,441.198
19,019,460
9,686, 664
5,651,269
3,078,954
12. 632,359
6,919,863
5,2333,462
2,984,817
()
(2)
(2)
(2)
79, 681
9,059
9,272
25, 399, 852
364, 772
852,076
3,106,263,965
202,971,449
7,647
5, 577
5, 574
5, 389
6, 288
6,874
6,686
6, 462
6,513
7,203
20,107,880
14, 268, 551
14, 666,467
18,231,469
24,970,971
30.875, 636
29,995, 501
26. 288,148
24, 631, 507
23, 994, 717
277. 567
165,971
178,605
117,336
222, 459
299,882
464, 430
283,403
227. 471
178,762
807. 818
748,054
798,685
634,057
711,566
757, 835
780,418
766,974
753, 044
751, 941
2,811, 720, 784
2, 598,890, 660
2, 764, 354, 206
3,108. 633, 729
4,189,130,106
6, 253.465,699
6, 458.089,207
5, 398,451,005
4, 984, 020, 281
4,903, 288, 994
166, 789, 731
137,414,061
109,593,059
77,975. 788
163, 508,893
396,687.348
451,606,998
305, 210. 059
247,164,324
252,157,834
16, 384,119
"9,"381."773
118
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returnst net income and total tax; also totals for preceding years—Continued
North Dakota
North Carolina
Net income classes
Number
of
returns
Under 1 (est )1
Under 1 (est)
1-1 5 (est)!
1-1.5 (est)
1.5-2 (est )*
1.5-2 (est.)
2-2.5 (est.)1
2-2.5 (est.)
2.5-3 (est )i
2.5-3 (est.)
. 3-3 5 (est ) l
3-3.5 (est.)
3.5-4 (est.) 1 -3.5-4 (est.)
4-4.5 (est)!
4-4.5 (est.)
4.5-5 (est)!
4.5-5 (est)
5-6 *
5-6
6-7
7-8 „
8-9
9-10
10-1111-12
12-13 _
13-14
14-15
15-20 .
20-25
25-30
30-40
40-50
50-60
60-70
70-80 .
80-90
90-100 .
100-150
150-200
200-250
250-300
300-400
400-500 .
500-750
750-1,000 .
1,000-1 500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 and over
Classes grouped 2
(2)
(2)
2, 497, 753
Total tax
$1, 778
18,187
39, 371
25, 911
20, 339
30,158
32, 577
35,191
34, 286
71, 216
67, 865
66, 806
68, 320
6M, 593
66, 460
61, 260
55, 741
64, 620
61,150
258, 838
189, 252
169,496
301,857
277, 686
186, 271
257, 262
160, 846
103, 732
120,185
512, 064
614, 743
Number
of
returns
Net income
1,177
23
1,457
812
1,042
690
1,115
276
1,181
227
499
286
116
294
46
162
14
133
10
183
91
54
45
29
20
10
8
5
8
16
5
2
1
1
1
$737,965
12,425
1, 775,899
1,054, 514
1,828, 497
1,194,367
2, 519, 775
610,301
3, 205, 439
637, 177
1, 597,174
937, 698
425, 383
1,099, 979
191,182
682,250
66, 330
630, 331
53, 259
999, 562
589,142
403, 864
384, 761
272,876
210, 856
113, 310
99, 256
68, 352
113, 948
266,817
110, 363
(2)
(2)
Total tax
$120
5,321
14, 557
9,277
6,238
6,347
9,400
6,370
7,191
15, 757
9,755
11,128
11, 148
8,692
7,731
4,525
4,125
3,720
5,018
14,100
8,359
(3)
(2)
(2)
(2)
(2)
1, 262.168
2, 351, 628
1,115,181
184,353
22, 533
35, 813
124,880, 237
6,419,410
10,039
23, 077, 405
191,412
32, 305
29,462
25, 972
22, 625
25, 216
28, 860
30, 997
33, 398
35. 332
38, 740
112,913,710
91,673,065
76. 989, 708
88, 042, 580
103, 624, 484
130, 352, 897
161, 039, 786
155, 916, 827
153, 231, 981
161, 623, 754
6, 281, 451
4,121, 232
4,017,702
2, 030, 396
2, 426, 562
3, 282, 957
6,051,641
4, 519, 870
3, 398, 245
3,178, 767
9,733
8,359
8,889
7,013
8,262
9,170
9,710
9,758
9,881
11, 715
22,351, 926
16, 799,800
18,182, 308
18,469, 626
24, 476, 992
31,197, 250
34,878,015
33, 252, 341
33,169,117
35, 695, 178
183, 955
115,100
110, 561
42, 519
86, 704
111,346
209, 440
187,635
180,012
162,589
_
Summary for preceding years: 3
1934.".
1933
1932
1931
1930
1929
1928 .
1927
1926
1925
$1,549,056
66,047
5,190,458
3, 334, 210
4, 658, 386
3, 489, 347
8,142, 736
1,695, 306
14, 280,474
2,212,885
7, 702,153
3, 789, 771
2,957,312
4, 035,497
1,185, 347
3,860,953
559, 652
3, 440, 597
700, 803
5, 292,141
4, 359, 229
3, 369,024
2, 894, 958
2, 374, 726
1, 903,112
1, 667, 413
1, 358, 059
1,419,275
1, 278, 869
4, 577, 550
2, 674, 059
1, 905, 970
2 666,444
2, 006, 596
1,135, 864
1, 349, 557
747. 812
418, 478
470, 461
1, 641,144
1,603, 125
1
2
4
1
Total
For footnotes, see p. 126.
Net income
2,118
107
4,327
2,565
2,661
2,022
3, 580
774
5,252
792
2,416
1, 168
799
1, 080
280
913
119
725
129
965
674
451
342
251
182
145
109
105
88
265
121
70
78
45
21
21
10
5
5
14
9
2
(Thousands of dollars)
119
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, shoiving number of returns, net income and total tax; also totals for preceding years—Continued
Ohio
Oklahoma
Net income classes
Number
of
returns
(Thousands of dollars)
Under 1 (est.)i
Under 1 (est.)
1-1.5 (est )*
1-1.5 (est.)
1.5-2 (est) i
1.5-2 (est.)
2-2 5 (est )*
2-2.5 (est)
2.5-3 (est.V. . . .
2 5-3 (est)
3-3.5 (est.)1
3-3.5 (est.)._
3.5-4
4-4.5
4-4.5
4.5-5
4.5-5
l
(e,st.)-_
(est.)1
(est.)1
(est.)
(est.)
5-6
,5-6
6-7
7-8...
8-9
. ...
3-10
10-11
11-12
12-13
13-14
14-15
1,5-20.
20-25
25-30
30-40
40-50
50-60
60-70
70-80
30-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
5,000-4,000
4,000-5.000
_
_
11,058
407
47,013
24,080
19,060
19,936
15, 448
7,045
26,849
5,899
11, 571
8.082
3,846
8,270
1,345
6,210
654
4,675
385
6,122
4.229
2,906
2,088
1,490
1,216
935
769
620
489
1, 694
781
462
527
250
147
91
50
43
25
67
19
12
12
5
1,916,332
Total
246. 888
Summary for preceding years:3
1934
For footnotes, see p. 126.
$7,458,980
218,889
55,695,311
31,391,689
32,832,265
34,169,484
35,021,225
15,495,931
72, 965,158
16, 525,105
36,993,203
?6, 296, 786
14,187, 8?0
30,906,483
5, 653, 386
26, 276, 827
3,096,344
22,143,499
2,091,490
33, 437, 075
27, 339, 609
21, 696, 476
17,710,476
14,120, 100
12, 721, 675
10, 735, 465
9, 602,065
8,355, 598
7,081, 541
29,184,277
17,371,000
12, 577, 480
18, 295,988
11,052,617
8,015,328
5,834, 735
3, 709, 269
3, 682, 620
2, 373,490
7, 979, 719
3, 359, 957
2, 699, 733
3, 215, 341
1,705, 559
1, 335, 230
Total tax
$4,863
171,182
400,359
241,400
171,154
193,158
261,353
256,824
248,812
471,464
461, 794
457, 876
475, 708
440, 064
1,359,138
420,277
420,965
392,461
357,215
1, 749, 465
1,331,712
1,195,379
2,163,240
1. 596, 638
1, 380, 479
1,130, 274
829,916
898,014
645, 504
2, 568, 473
1,313,032
1,139, 847
1,39H, 075
796,169
C40, 745
Number
of
returns
3,377
77
5,671
1,735
4,916
2,575
5, 331
1,339
5,528
826
2,093
1,401
753
1, 746
290
1,358
105
1,228
73
1,181
783
518
348
284
223
169
121
109
78
271
147
84
83
39
21
10
4
4
1
8
1
Net income
$2,171,625
47,073
7,052, 915
2,319,360
8, 606, 012
4,432,815
12,087, 262
2.965,375
15,061,230
2, 280,845
6, 713,355
4,585,166
2, 782,177
6. 533,353
1, 227, 733
5, 760,128
495, 748
fi, 830, 454
394,840
6,448, 736
5,059,334
3, 858, 580
2,944, 472
2, 686, 676
2,334,173
1,938, 527
1,510,934
1,467,982
1,124, 259
4, 679,855
3, 254, 763
2, 274,932
2, 812, 372
1,760.579
1,125.939
640, 346
293, 533
(2)
(*)
992,192
C2)
Total tax
$1,182
16,574
55,258
46,370
30,406
37,311
57,974
57,091
71,950
96, 352
87,352
86,148
84,112
87,373
88,798
81,440
68,309
72,305
61,161
291,862
261,334
215,134
335, 595
259, 866
185, 258
125,152
64,141
(*)
(*)
335,998
2
1
5,000 and over 2
Classes grouped
1933 _
1932
...
1931
1930 . .
1929
1928
1927 . . . .
1926...-.
1925
N e t income
_
766, 528, 630
209, 589
181,212
188,141
164, 809
199, 600
215, 804
218 479
222, 707
231,196
224, 643
631, 348, 370
511,694,014
556.313,005
689, 352,135
950, 397,134
1,259,571,939
1,302, 762,001
1,153, 756, 214
1,146,495, 871
1,141,453,071
998,813
28,981, 842
19,761,006
13,237, 425
12, 296, 627
9, 742,860
21, 879, 272
43, 633, 678
55, 393, 575
35, 519, 337
32,839,052
30, 321, 360
592,033
44, 909
139, 147, 683
39,279
33, 224
31, 832
28, 242
32, 526
37,000
37, 261
39,806
37,497
40,825
120,030,049
89,908.905
83, 367, 347
93, 593,901
157,410,693
218,346,916
211,061,345
212,341, 656
223,036,805
219,960,990
171,197
3,433,003
3,416.992
1,608, 377
1, 203,868
861,871
3,416,992
6,020,950
6,446,274
6,232,124
8,134,654
6,897,119
120
STATISTICS OE INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Pennsylvania
Oregon
Net income classes
(Thousands of dollars)
Under 1 (est.) 1
Under 1 fast.)
1-1.5 (est.) i
1-1.5 (est.). .
1 5-2 (est ) i
1.5-2 fast.)
2-2.5 (est.)i_.
2-2.5 (est)
2.5-3 (est.) i
2.5-3 fast.)
3-3.5 fast.) i
3-3.5 (est.)
3.5-4 (est.) i
3.5-4 (est.)
4-4.5 (est.) i4-4.5 (est.)
4.5-5 (est.)i
*.5-5 (est.)
5-6 i
5-6
6-7
7-8 __ _._
8-9
9-10
10-11
11-12
12-13 _ _ .
13-14
14-15
15-20
20-25
25-?0
30-40
40-50
50-PO
60-70
70-80 _
80-90
90-100.._
100-150
150-200
200-250
250-300
300-400
400-500
500-750.
750-1,000
1 000-1 500
1 500-2 000
2,000-3,000
3,000-4,000
4,000-5,000
5,000 a n d o v e r .
Classes grouped * _ _ _
Total
Summary for preceding years:'
1934 . ._
1933
1932
1931 .
1930
1929
1928.
1927
1926
1925
For footnotes, see p. 126.
Number
of returns Net income
1,023
54
5, 718
4 575
2,610
2.812
1 871
990
4 197
898
1 418
1 260
526
968
111
736
42
553
32
820
52s,
323
253
196
131
94
85
62
53
165
65
38
42
11
7
1
3
2
$627,801
26, 651
6, 852, 504
5, 840, 8S2
4,493,138
4,858, 326
4, 240, 362
2 166.968
11,382 986
2, 546, 496
4. 510, 725
4,086. 313
1,947,160
3, 613. 502
462, 502
3,117,180
195, 508
2, 620, 621
170,908
4 474 431
3, 420,804
2,416,072
2, 145, 593
1, 852, 328
1, 373, 496
1, 075, 504
1, ()5'i, 2-9
840. 537
765, 504
2, 823, 0?5
1. 149, f\w0
1, 036. 624
1,429.621
179, 059
371,239
ax
Total 1
$734
26, 096
58, 745
33, 6^4
18, 318
24, sm
30~957~
32, 680
33, 095
70 V/>
64, 514
00, 5S7
G2. 964
59,492
52, 232
44, 7.9
49, 5«5
41. 701
38. 9!2
175, 538
116 1*6
102. 043
164, «7Q
68. 900
S<M
227, 438
GO
49, 76-*
(2)
(*)
Number
of returns
23, 666
505
65, 767
26, 9QR
27,060
32.868
26, 734
15 038
47, 094
8,94S
19 5S4
10 621
7, 785
12. 527
9 572
11, 749
1 164
9, 752
697
n 422
6, 646
4 447
3,150
2, 339
1,852
i! 425
1 175
997
784
0
669
1 44Q
833
0*6
478
306
146
85
64
113
42
25
10
8
g
12
1
Net income
$16, 292,805
305, 741
76, 832,103
35,172,442
46, 946, 656
56, 690,410
60, 951, 474
33 287,758
128,166, 507
24, 662, 769
62 638 126
34. 582 378
28,741,388
46, 932, 333
10, 846,060
49, 819, 369
5,488,462
46, 254, 638
3 799 500
51 500 285
42.957,712
33, 233, 693
26, 699, 759
22,159, 761
19,390.783
16, 354, 544
14, 668, 531
13, 430, 844
11,362 537
45, 773, 881
32 304 881
22,713 161
32. 708, 645
21,243,010
16, 688 928
9, 416,180
9, 541 670
7 198 337
6, 068. 956
13, 454, 020
7,196.610
5 471 286
2. 645, 236
2,846 6"0
3 410 798
7,718,518
(2)
(2)
Total tax
$8, 211
217,896
693,138
547,876
382, 679
332,086
464,193
529, 678
577,211
753, 803
740, 700
746, 830
740, 221
719, 354
717,694
671,848
657,413
643, 001
591.833
2 799, 323
9 510,008
o' 205. 274
3, 91°. 987
3,130,280
2,870.813
879. 506
141,261
l' 796. 093
1 653. 415
4 348, 782
2 812,574
9 290,191
1 175. 182
1 358,114
] 681, 709
3 995, 871
(2)
(2)
308,146
92, gor
6,803, 092
3 727, 770
33,273
91,305,901
1,625, 697
339 994
1, 273, 383, 247
57 052,818
27, 253
27, 572
25,845
20,181
26,047
28,194
29, 333
33, 903
30, 655
32, 542
71,076,619
66,190,038
60,519,751
73,154, 659
106, 076,107
129, 360. 587
132, 829, 673
140.739,425
135, 030,190
132, 022, 718
-1,084,638
795,893
670, 442
474,055
1, 073, 686
1, 663, 775
2, 387, 276
1,920, 597
2,175. 322
1, 787,992
342, 308
323,960
334, 471
267, 848
322, 503
364,145
361. 220
381,374
397, 575
376, 923
1, 067, 788, 870
970, 250, 517
1,023,234,341
1,193, 400, 020
1,620,314,109
2, 217, 958, 557
2, 204, 955, 406
2. 091, 825, 217
2,138,168, 594
2, 031, 305, 849
44,423, 725
32, 872, 779
39, 904, 410
24,854, 558
46, 825, 528
90, 694, 655
96, 772, 465
78, 674, 525
76,887. 315
73, 364, 345
121
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
South Carolina
R h o d e Islanc
Net income classes
Number
of returns
(Thousands of dollars)
Under 1 (est.)1
Under 1 (e*t.)
1-1 5 (est.)1
1-1.5 (est.)
1 5-2 (est )i
1.5-2 (est.)
2-2 5 (est )i
2-2.5 (est.)
2 5-3 (est )!
2 5-3 (est.)
3-3.5 (est.)1
3-3.5 (est.)
3.5-4 (est.)1
3.5-4 (est.)
4-4 5 (est.)1
4-4.5 (est.)
4 5-5 (est ) !
4.5-5 (est.)
5-6 i
5-6
6-7
7-8
8-9
9-10
10-11
11-12
12-13
13-14
14-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200 2r>0
250-300
300-400
400-500
500-750
750-1 000
1,000-1,500
1,500-2,000
2 000-3 000
3,000-4,000
4,000-5,000
5 000 and over
Classes grouped 2
~
_.
_
-
--.-
_
Total
Summary for preceding years:3
1934
1933
1932
1931
1930
1929 .
.
_
.1928
1927
1926
_
1925
For footnotes, see p. 126.
1,596
68
5,412
3, 833
2,179
2, 666
2,363
1,132
3, 692
739
1, 583
920
498
822
195
614
104
565
57
859
662
433
352
212
208
171
113
93
74
278
142
97
117
57
27
18
12
9
8
14
7
3
2
1
1
1
Net income
$1,068,947
36, 680
6, 378, 569
4,983, 310
3, 773, 990
4, 553,428
5, 323, 585
2, 484, 330
10, 050, 531
2, 048,491
5, 043, 878
2, 969, 600
1, 855, 235
3, 074, 324
829, 172
2, 607, 662
493, 862
2, 668, 425
310 675
4, 673, 265
4,288,416
3, 243, 580
2, 985, 376
2,011,014
2,182, 759
1, 958, 688
1,411,404
1, 257, 340
1, 069, 382
4, 765, 217
3,192,999
2,651.610
3,975, 534
2, 526, 987
1, 457, 769
1,164,607
898, 709
763, 455
758,111
1, 602, 454
1,216,792
682, 076
Number
Total tax of returns
$751
26,826
51,829
38, 643
22? 916
21, 359
29, 749
26, 521
34,474
66, 127
75,116
70, 265
77, 636
64, 283
79, 588
79, 724
61, 611
59, 510
53,918
286, 616
243,355
250, 038
461, 280
364, 287
241, 595
225, 916
197, 405
185, 378
199, 288
501, 208
467, 965
284 545
(2)
1
$987, 043
35, 341
2,363 411
1, 967, 205
3 016 832
1, 728, 589
4 002 476
989, 071
5. 083, 795
1,116,314
2. 862, 391
1, 743, 549
1 019,284
1.845,333
471, 589
1.660,841
209 623
1,317,978
•'8S 541
2 389, 285
1, 904, 626
1 409 736
1, 123 237
1,138, 582
681, 169
572, 870
423, 434
364, 505
290. 386
1, 598. 535
521,538
630 139
420, 437
216,100
205,107
(2)
(2)
Total tax
$981
8,619
19,491
15,149
8,704
10,515
13,896
12 950
13,497
32 937
29 904
28 248
28 028
34 951
24 332
22 540
19,330
17 572
15,052
98 086
43,195
61 292
51 798
31 223
32,626
(2)
(>)
(2)
(2)
(2)
(2)
1,465
74
1, 935
1, 537
1,727
1,005
1 771
446
1, 871
400
897
536
276
492
110
390
44
279
25
439
294
189
132
120
05
50
34
97
20
92
23
23
12
5
4
1
2
2
Net income
(2)
(*)
2, 348, 563
1,151,716
511, 353
127,804
33,009
113,640,801
6, 002, 036
16, 826
47, 010, 243
802, 720
31, 235
29,489
30, 581
22, 375
23, 862
26, 481
25, 801
25,184
26, 362
29,123
104,193, 731
92, 589, 659
101, 863,121
111,159,397
136, 571, 363
184, 531,178
176, 225,164
157, 464, 733
155, 050, 974
160, 955, 280
5.232,124
2>,452. 803
3, 839,178
2, 598, 619
4,114.526
7, 851, 363
8, 093, 013
6, 332.169
5. 545, 787
5, 817, 977
14, 937
12, 686
11,902
10, 536
12,179
13, 232
13, 725
14,310
13, 809
15, 727
41, 023, 968
32.131,067
29, 080, 658
33, 858, 781
42, 714,132
50.257,416
55, 510, 360
55, 218, 679
53, 060, 331
57, 661, 544
735,471
450 922
312,924
197,943
304, 596
566, 252
716, 628
554 731
420,164
430,879
122
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1985, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
South Dakota
Tennessee
Net income classes
(Thousands of dollars)
Under 1 (est.)1
Under 1 (est.)
1-1.5 (est.)1
1-1.5 (est.) 1
1.5-2 (est.) 1.5-2 (est.)
2-2.5 (est.) 1 .
2-2.5 (est.) 1 -
•
2.5-3 (est.)
2.5-3 (est.) 1
3-3.5 (est.) 3-3.5 (est.) 1
3.5-4 (est.)
3.5-4 (est.) 1
4-4.5 (est.)
4-4.5 (est.)
4.5-5 (est.) 1 4.5-5 (est.)
5-6 1
5-6
6-7
7-8
8-3.
9-10
10-11—
11-12.—
12-13.—
13-14—
14-15
15-20
20-25
25-30—
-.
30-40
40-50—
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
_
3,000-4,000.
4,000-5,000.
5,000 and over 2
Classes grouped .
Total.
Summary for preceding years:3
1934
_
1933
1932—
1931—.
1930
1929
1928
1927
1926
1925—
For footnotes, see p. 126.
Number
of returns Net income
904
32
1,125
966
917
683
986
262
1,148
225
493
324
171
253
51
183
24
154
20
200
135
84
70
31
16
21
20
14
$563, 563
15,085
1,356, 054
1,251,051
1,605,331
1,168,890
2, 240,620
577,817
3,130,806
630, 279
1, 582,634
1,055,115
634,901
948,080
212, 775
776, 575
114,946
736,691
109, 554
1,090, 430
872, 560
623, 741
594, 562
294, 585
165, 661
241,536
251,662
190, 670
130,257
657,214
227, 715
110,164
111, 796
(»)
0)
(3)
Total tax
$404
~~6,~327"
13,425
4,9
6,900
"7,~308"
6,861
8,123
15,299
14,693
12, 559
15,152
8,435
5,896
9,180
11,125
9,026
6,388
38,157
15, 225
10,110
13,962
(2)
Number
of returns Net income
2,099
59
1,922
3,028
3,342
3,569
1,492
5,932
1,045
2,427
1,488
844
1,718
317
1,549
104
1,083
79
1,185
789
451
366
278
186
159
142
106
78
240
138
69
66
35
21
7
7
(*)
(3)
$1, 441, 520
33, 753
7,024, 338
2,606,618
5, 260,044
5, 785, 647
8,135,723
3,321, 578
16,121,100
2,875,122
7,770,812
4,839, 546
3,127, 663
6,432,423
1, 335,457
6, 549,464
493, 320
5,125,016
429,466
6,473, 762
5,103, 719
3, 357, 569
3, 098,703
2, 636, 621
1,943,013
1,821,126
1, 772,147
1, 426, 258
1,130, 518
4,154,628
3, 065, 340
1, 872, 571
2, 219, 243
1, 573, 247
1,161,377
454,089
518,305
503,945
281,699
337,839
()
811, 725
0)
Total tax
$832
"17,948
~71,~484
55,880
~iI,~830
44, 287
" 59," 360
67,002
60, 606
94,025
85,944
69,995
80,947
87, 611
70,161
73, 534
78, 703
71,136
57, 850
253,954
232, 572
176,036
253,925
227, 967
204,077
81,110
116,856
124,937
77,034
100, 214
()
351,944'
(')
420,230
96,992
1,131,022
547, 672
9, 582
24,693, 550
345,333
42,341
135,557,076
3,937, 433
8,302
7,555
8,356
7,387
9,449
20,105, 511
16, 519,323
17, 956,077
22,130, 693
31, 453, 988
40,165,070
' 38,954,968
35, 906, 515
38,153, 263
53, 971, 360
225,380
188,033
137, 503
105, 602
178,379
390,886
321, 516
209, 667
208, 893
192, 460
37,938
33, 464
31, 543
28,117
32,682
34, 664
35,039
33,812
35,495
34,689
115, 788, 720
93,395,213
88,515,162
107, 251,482
140,422, 521
177,388,337
190, 287,682
173,162,605
175, 714, 293
168,198,127
3, 596,105
1,987, 598
1,699, 381
1, 413, 609
1,955, 201
3, 747, 582
5,624,112
4,035, 541
3, 651,457
3,125, 603:
10,449
10, 649
10,969
12, 414
17, 086
123
STATISTICS OF INCOME
TABLE 9.—Individual returns for 193-5, by States and Territories and by net income
classes, showing number of returnsy net income and total tax; also totals for preceding years—Continued
Texas
Utah
Net income classes
(Thousands of dollars)
Under 1 (est.)L
Under 1 (est.)—
1-1.5 (est.)i
1-1.5 (est.).-•_.„
1.5-2 (est.)'
1.5-2 (est.)
2-2.5 (est.)i
2-2.5 (est.)
2.5-3 (est.)i
2.5-3 (est.)
3-3.5 (est.)1
3-3.5 (est.)
3.5-4 (est.) i
3.5-4 (est.)
4-4.5 (est.)i
4-4.5 (est.)
4.5-5 (est.)*
4.5-5 (est.)
5-61
6-7
7-8
8-9
9-10
10-11
11-12
12-13
14-15
15-20
20-25
25-30
30-40..__
40-50____
50-60
60-70
70-80
80-90
90-100
100-150
150-200.
200-250-.
250-300
300-400
400-500500-750. —
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000.
_.
Number
of returns Net income
8,251
90
14, 054
9,777
8,470
9,112
9,929
5,407
13, 579
4,997
7,043
7,045
2,376
6,166
731
4.883
376
186
5,059
2,986
1, 660
928
690
652
432
384
260
275
736
437
219
234
118
77
34
22
19
13
21
10
$5,430, 672
52,153
$1,115
16, 950, 640
12, 654,904
62,819
14, 714, 920
15, 669, 695
~165~187
22, 720, 999
12, 037, 740
159, 499
37, 074, 984
13, 937, 910
142, 059
22, 529, 745
22, 890, 753
~266,~349
8, 765,105
23, 093, 611
245, 385
3, 059, 320
20. 646. 539
"260," 122
1, 765, 394
17, 455,168
"258," 109
1, 005, 075
27, 626,197
521, 068
19, 279, 324
448, 428
12, 373,159
384, 401
7,877, 352
295, 751
6, 538,179
276,175
6, 826, 073
320, 890
250, 515
4, 9(52,140
259, 593
4, 786, 290
3, 505, 468
3, 979, 387
244, 513
12, 584, 213
863, 468
842, 437
9, 725, 791
638, 794
6,012,992
8, 085, 683 1, 048, 300
820, 650
5, 240, 348
761,851
4,162, 254
454, 943
2,169, 382
382, 095
1, 616, 221
412,710
1,611,478
360, 609
1, 245, 383
836, 083
2, 523, 270
665, 484
1, 732, 031
542,181
1, 281, 611
()
1, 256, 543
2, 327,452
(2)
_.
Total tax
Number
of returns Net income
1,031
31
1,889
1,152
1,355
680
1,532
215
2,056
270
877
453
223
473
97
294
33
220
22
340
203
151
94
66
56
41
28
30
22
64
45
14
16
9
1
2
2
$651,029
13,944
2,338,150
1, 465,980
2,357, 347
1,161,158
3, 488, 350
474, 515
5, 602,414
764, 381
2,804, 965
1.475, 597
826, 786
1, 765, 098
410,885
1, 245, 081
156,197
1, 042, 057
119,314
1,861, 333
1, 309,832
1,120,681
799, 280
622, 928
587, 063
467, 999
351, 299
403,858
318, 605
1, 091, 359
1, 001, 918
379, 396
540, 754
415,943
(2)
Total tax
$297
"6," 769
12,938
"~7~I66
5,428
"~8~451
10,958
11,183
10,882
24,285
31,373
21,396
18,899
18,060
18,604
18, 580
14,535
19, 565
14,936
62,198
79,058
37,166
63,869
60, 516
(2)
(2)
(2)
()
633, 665
1, 254,114
(2)
_.
5,000 and over....
Classes grouped 2
Total
Summary for preceding years:3
1934
1933
1932.
1931
1930
1929
1928
1927
1926
1925
For footnotes, see p. 126.
7, 379,410
4,286,170
467, 320
109,038
131,447
439,162,958
19, 498,410
14,088
39, 902,816
686,084
118, 930
105, 950
102,966
89,158
105, 058
113, 555
112, 273
114, 534
111,438
109, 448
366, 713,839
299, 577, 627
279, 533, 040
333, 673, 467
448,849, 717
592, 518, 704
580, 239, 493
560, 322, 568
547, 562, 501
496,820,449
11,312,971
7,160,953
5, 743,888
4, 634, 359
8, 633,146
12,866, 950
14, 401,968
12, 909,842
12, 681, 519
9,766, 688
11, 458
10,807
10, 624
9,785
11, 777
13,163
13, 262
13, 029
13, 568
16,101
32,016, 329
26, 933,168
27,028,193
31, 863, 657
45, 369,199
59, 451, 690
58,809, 296
53, 628,897
53,832,169
61, 634,951
468, 653
349, 519
366, 273
196. 095
447,953
881,606
1,095,839
851,031
628, 773
660,497
124
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
i
Vermont
Virginia
Net income classes
Number
of returns Net income
(Thousands of dollars)
Under 1 (est.) 1
Under 1 (est.)
1 1.5 (est.)1
1-1.5 (est.)
1.5-2 (est.) 1 ..
1.5-2 (est.)
2-2.5 (est.) 1
2-2.5 (est.)
2.5-3 (est )i
2.5-3 (est.)
3-3.5 (est.) 1
3-3.5 (est.)
3.5-4 (est.) 1
3.5-4 (est.)
4-4.5 (est.)1
4-4.5 (est)
4.5-5 (est.)1
4.5-5 (est.)
5-6» __
5-6
6-7
7-8
8-9
9-10.
.
10-11
11-12
12-13
13-14
14-15
15-20
20-25
25-30
30-40
40-50- ..
50-60
60-70
70-80
80-90
90-100
100-150
150-200.
200-250
250-300. .
300-400
400-500
500-750
750-1,000
.
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000..
4,000-5,000
5,000 and over __
Classes grouped 2
_.
_
_
.
$116,990
22,160
2, 562, 703
1, 776,166
1, 221, 669
1,176,482
1,076,468
663,574
4,922, 927
889,042
1, 842, 072
1,112,486
725, 488
1,058, 322
262,077
996,039
147, 522
851,072
102, 583
1, 507,104
1,085, 468
721, 997
667,862
634, 785
449,846
368, 643
261,817
201.406
202,073
921,373
357,065
326, 250
542, 727
165,440
$441
8,385
12, 582
9,722
5,823
8,511
8,030
10, 236
10,450
21,858
18,429
15,899
17, 575
19.089
14,900
15, 345
11, 386
9,788
10,186
55, 453
26, 823
30, 610
59, 738
(2)
26,441
-.
Total...
Summary for preceding years:3
1934
1933
1932
1931.
_
1930
1929
.
1928
1927
1926
1925
_
For footnotes, see p. 126.
183
40
2,154
1,383
707
689
482
301
1,814
311
575
345
195
280
62
235
31
179
19
276
168
97
79
67
43
32
21
15
14
53
16
12
16
2
3
2
1
1
Total tax
Number
of returns Net income
4,125
80
6,666
2,620
4,385
4, 574
4 983
2, 050
7 044
1,197
2,841
1,855
1 061
2,258
341
2,046
231
1,329
129
1,308
895
637
424
293
228
178
118
116
84
268
145
87
95
46
31
24
15
5
4
7
5
3
1
2
1
$2,757,971
48,311
8,092, 621
3, 545, 739,
7, 652 022
7,915, 225
11 331 733
4, 521,630
19 172 565
3,311,410
9,116,902
6,052, 594
3 904 309
8,476, 726
1 423 714
8, 680,090
1,077,028
6, 294,008
701, 487
7,158,062
5, 797, 675
4, 759, 546
3 590 641
2, 774,156
2, 392, 778
2,039.144
1, 474,698
1, 558,837
1, 218, 650
4, 602,963
3, 245, 330
2, 391,484
3, 229, 327
2 017 778
1, 685,084
1, 542, 391
1,118,665
421.987
380,573
853, 682
818,108
703, 675
Total tax
$953
22,975
98,054
73, 394
49,141
52, 369
75,949
86, 292
72, 910
98, 593
92, 239
97, 574
91 288
85, 274
84,103
77,811
60. 367
69.028
57, 546
265,186
245,638
224,174
366,883
283 668
281,894
298, 485
254, 722
103,015
105,182
273, 548
307,031
292,885
(2)
373, 883
76, 258
1, 352, 496
620,593
10,903
30,293, 579
503,958
54, 835
171, 203,815
5, 268, 764
9,824
9,375
10,439
7,803
8,635
9,586
9,394
8,268
8,645
9,559
26, 565,697
23, 937, 326
27, 542,982
29,853,410
39, 259, 341
49,916, 326
48, 086,175
41,842, 221
42, 209,083
45,857,160
435, 666
339, 220
406, 645
264, 753
626,874
1,019,863
1,055, 740
846,932
821, 296
919,959
47, 814
42,920
43,136
34, 689
37,915
38, 631
37, 619
37, 393
37, 797
37, 507
139,932, 355
117, 634, 811
122, 228, 476
129, 365,027
156, 272,484
179, 293,926
181, 750,013
172, 239,863
176,024, 673
170, 257,017
3,665,810
2, 399, 380
2, 220,452
1, 323, 722
2, 050,554
3, 201,104
4, 408, 983
3, 611,135
3, 495,042
2,981,412
125
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
clcsses, showing number of returns, net income and total tax; also totals for preceding years—Continued
Washington *
West Virginia
Net income classes
(Thousands of dollars)
Number
of returns Net income
Under 1 (est.) 1 -.
Under 1 (est.)-~
1-1.5 (est.)1
1-1.5 (est.).
1.5-2 (est.)1
1.5-2 (est.) 1
2-2.5 (est.)
2-2.5 (est.).
2.5-3 (est.)1
2.5-3 (est.).
3-3.5 (est.)1
3-3.5 (est.).
3.5-4 (est.)1
3.5-4 (est.).
4-4.5 (est.)1
4-4.5 (est.).
4.5-5 (est.)1
4.5-5 (est.)
5-6 1
5-6
6-7
7-8
8-9
9-10
10-11
11-12.._
12-13
13-14
14-15
15-20
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
5.000 and over...
Classes grouped 2
3,430
45
10,101
4,233
4,498
7,658
3,458
3,775
Total.
69, 919
197,923, 584
60,151
54, 539
56, 434
51, 781
63,129
65, 240
66,167
62, 200
61, 950
78, 030
153, 639,087
131, 639, 579
133, 697, 243
174, 858, 452
238, 857,983
302, 258,404
273, 648, 593
252, 547, 211
245, 592, 050
272, 544, 925
Summary for preceding years :3
1934
1933
1932
1931
1930
1929
1928
1927
1926
1925
For footnotes, see p. 126.
78020—38-
2,806
2,737
2,939
1,092
3,441
173
2,509
141
2,080
76
2,178
1,246
593
338
258
200
176
104
86
71
222
94
60
58
40
17
7
5
2
$2,072, 476
23, 870
11, 826,327
5, 745, 974
7, 792, 368
13,208,207
7, 784, 222
8,385,451
24,367, 723
7, 737, 568
8, 728,015
9,603,871
4,009, 521
12,901, 259
720, 704
10, 633,482
665, 038
9,872, 342
409,847
11,878, 236
8, 006, 754
4, 415,494
2,865, 072
2, 438, 899
2,093, 875
2,019,146
1,301,356
1,157, 781
1, 031, 734
3, 790,607
2, 074,342
1, 642, 403
2, 024, 588
1. 802,308
913,490
439,978
377, 203
(2)
'9, 757
762, 296
Number
Total tax of returns Net income
Total tax
2,289
52
7,039
2,335
3,105
2,841
2,496
1,495
4,011
955
1,766
1, 343
704
1,331
191
1,267
118
688
95
765
535
360
261
224
157
129
81
67
70
186
108
56
45
27
10
5
10
3
1
2
1
$1,454, 595
24,397
8, 414,397
3,052,256
5,388,031
4,908,475
5, 601,085
3, 300,015
10, 975, 219
2, 669,700
5, 650,883
4, 370,765
2, 611, 491
4,972,845
808, 620
5, 371, 748
552, 573
3, 259,686
516,030
4,198,365
3,475, 698
2, 693, 639
2, 210,101
2,122, 042
1, 646,761
1,480, 933
1, 013,786
900,361
1, 014,883
3, 202,469
2,411,749
1, 547,746
1, 519, 473
1,191, 575
548,513
321,445
753, 750
258,920
(2)
3,868,053
37, 224
106, 920,022
2,276,187
2, 551,738
1, 646, 568
1, 557, 558
1, 238,044
2,750,143
5, 775,343
4, 464,930
2, 913, 642
2, 800, 548
2, 717,102
30, 297
25,837
26,872
22,118
27,130
29, 803
30, 643
32, 500
32, 544
35, 810
87, 992, 253
69,425, 751
73, 659, 579
80, 333,944
110,726,146
136, 768, 017
140,128,751
139, 696,175
141, 396,917
144, 777, 469
1,674,942
1,107,746
928,480
515, 600
1, 238,711
2, 298, 875
2,920,822
2, 519, 731
2, 304,313
2,133, 510
$524
" 38,791
" 157," 752"
106, 572
" 102," 608'
"l34~84l"
132, 436
" 138," 302
215, 396
181,859
131,762
101, 201
103,135
93, 833
97, 485
67,020
60,147
55, 593
240,812
167,394
163,859
245,494
266,065
152, 356
85,452
83,068
()
134, 251
(2)
505,002
278,435
$479
16,449
58,238
"53,~463
"29," 034
33,574
"37,"916
'~61~694
36, 586
55, 234
53,996
52,019
53,933
63,959
58,471
55, 567
46.405
40,112
49,422
181,010
176,839
148,105
174,440
175,920
97,404
62, 765
164,837
63,864
174, 512
126
STATISTICS OF INCOME
TABLE 9.—Individual returns for 1935, by States and Territories and by net income
classes, showing number of returns, net income and total tax; also totals for preceding years—Continued
Wisconsin
Wyoming
Net income classes
Number
of returns Net income
(Thousands of dollars)
Under 1 (est.) i
Under 1 (est.)
1-1 5 (est) l
1-1 5 (est.)
15 2 Cest ) !
1 5-2 (est.)
2-2 5 (est.) i
2-2 5 (est) l
2 5_3 (est.)
2 5-3 (est.)
3-3 5 (est) !
3-3 5 (est ) 1
3 5-4 (est.)
954
4-4 5
4-4.5
4 5 5
45 5
(est )
(est) 1
(est.)
(est ) 1
(est)
5-6
6-7
7-8
8-9
9 10
10-11
11-12
12-13
13-14
14 15
15-20 _ _
20-25
25-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
100-150
150-200
200-250
250-300
300-400
_.
400-500
500-750
750-1,000
1,000-1,500
1,500-2,000
2,000-3,000
3,000-4,000
4,000-5,000
_
.--
14,740
454
15, 725
14,067
10,159
6,904
9,271
2,537
8,687
2,431
3,605
2,728
1,285
2,482
352
1,616
147
1,192
90
2,008
1,274
880
593
488
307
279
226
179
135
403
207
102
104
52
23
16
10
8
2
12
1
1
. _
1
5,000 and over 2
Classes grouped
Total
Summary for preceding years: 3
1934
1933
1932
1931
1930
1929
1928
1927
1926
1925
Total tax
$9,491, 727
238,974
19,037,112
18,010, 475
17, 613, 539
11, 767,374
20, 933,815
5, 638, 874
23, 554, 259
6, 796, 574
11,543,481
8,852, 946
4, 764, 647
9, 277, 651
1,493,160
6,836, 354
700, 688
5, 626,131
492, 340
10, 966, 641
8, 238, 302
6, 574, 412
5, 022, 412
4, 625, 909
3, 213, 291
3,199, 611
2. 824, 629
2,416, 023
1, 954, 042
6, 889, 431
4. 613, 561
2, 783, 815
3, 598, 931
2, 346, 846
1, 252, 502
1, 053, 073
746, 464
678, 904
162, 211
145, 309
150, 298
141, 332
153, 228
119, 093
128, 328
123, 999
118,769
97, 265
406,185
361, 566
258, 402
418, 799
325, 481
204, 493
204, 403
164, 969
169,792
1, 411, 740
Number
of returns Net income
Total tax
441,740
$4,838
84, 309
132,679
88, 686
60,454
64, 799
72, 063
68, 844
67, 981
(2)
(2)
$334,438
6,935
1, 240, 294
1, 784, 707
1,190,126
1,051,944
1, 531, 487
496, 993
2,670, 918
689, 200
1,690, 065
1, 023, 716
602, 916
997, 362
257, 597
837,112
56 850
530, 974
69, 926
1,196, 087
899, 368
741, 957
500, 968
350, 618
274, 776
287, 088
162, 643
214,808
159,179
402, 203
304,055
133,864
167, 439
$110
8,714
11,922
7,546
6,313
6,440
7,657
7,824
6,560
18, 360
16, 355
16, 21913,343
11,128
11,277
11,563
6,617
10, 970
8,742
23, 297
23 925
11, 703
17, 584
(2)
(2)
2
533
13
1,022
1,386
685
615
672
224
980
245
528
314
165
266
61
198
12
112
13
218
139
100
59
37
26
25
13
16
11
23
14
5
5
1
()
1
(2)
(2)
1, 509, 789
637, 050
844, 589
382,188
105, 785
258, 590, 449
5, 577, 366
8,739
23, 703, 202
646, 357
92, 826
89, 739
91, 557
84, 681
95, 366
103, 014
98, 485
100, 956
99, 251
110, 485
217, 350, 901
184,154,155
203, 833,124
251,988, 008
357, 657, 240
450,934,107
453, 394, 323
436, 579, 613
407, 642, 742
418, 618, 008
5, 009, 731
3,106, 227
3, 222,425
2, 438, 474
5, 892, 638
10, 287, 020
12, 459, 318
10, 621, 745
8, 418, 047
6, 799, 312
7,182
6,603
6,796
5,891
6,809
8,140
8, 622
8,870
8,930
10, 336
19,035, 620
16, 095, 689
16,189, 839
18,176, 553
22,979,517
30,813,018
33, 233, 249
31, 297, 698
31, 7f>0, 581
33, 481, 518
583, 601
452,240
143,717
65, 346
141. 440
188^ 964
372,128
274, 644
263, 319
256,481
1
Nontaxable returns. Specific exemptions from normal tax and surtax exceed net income. A negligible'
number of nontaxable returns in net income classes of $6,000 and over is not tabulated separately.
2
Classes grouped to conceal identity of taxpayer.
s Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
individuals are summarized on pp. 132-139.
• Includes Alaska.
127
STATISTICS OP INCOME
TABLE 10.—Individual returns for 1985 on Form 1040 with no net income, by
States and Territories, showing number of returns and deficit
Number
of
returns
Deficit
(thousands of
dollars)
571
429
States and Territories
2,114
1,069
1,514
32, 697
1,930
5,675
Alabama
_Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida..
._.
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
_
Maine.._
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
495
9,372
805
1,609
195
443
1,381
809
336
184
7,144
1,560
1,610
1,410
686
1,020
471
1,275
4,915
3,354
1,094
687
2,008
173
692
2,696
5,060
2,686
667
475
40, 465
4,738
4,245
3,711
1,997
4,505
1, 382
5, 540
18, 346
16,127
4,554
2,195
7, 598
540
Number Deficit
(thouof
returns sands of
dollars)
States and Territories
Nebraska
Nevada
._.
New Hampshire.
New Jersey
New Mexico
New York
North Carolina..
North Dakota...
Ohio
_..
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina..
South D a k o t a . . .
Tennessee
Texas.
Utah
Vermont
Virginia
Washington l
West Virginia
Wisconsin
Wyoming
334
18,480
731
530
3, 534
1,518
612
7,392
510
406
373
726
4,337
277
111
846
1,586
654
2,525
290
1,014
16, 650
5,023
2,405
27,900
1,642
860
722
3,716
18,098
979
607
2,496
4,383
1,542
6,055
694
Total.
94, 609
381,353
843
92
2,213
369
833
12,879
816
92,839
3,400
1 Includes Alaska.
TABLE 11.—Individual returns for 1985 on Form 1040 with no net income, by deficit
classes, showing sources of income and deductions, and deficit
[Deficit classes and money figures in thousands of dollars]
[For text denning items and describing methods of tabulating and estimating data, see pp. 1-4]
Sources of income
Taxable
Deficit classes
Salaries,
wages,
commissions,
fees,
etc.
interest on
Dividends
Busi
profit
Partnership
profit
l
Net
capital
gain 2
Rents
and
royalties
on
Income tially
stock of from
domes- fiducitic cor- aries 1
porations
Other
taxable Other
exempt inter- income
est
Govment
obligations 3
Under 5__
5-10
10-25 .
25-50
50-100
100-150.
150-300
300-500
500-1,000 .
1,000 and over
Total
38,404 17,784
10 187 3,087
9,497
2,997
5,774
1,200
3,299
355
1,742
111
1,232
140
650
402
483
4
2
8
71, 670
25,688
For footnotes, see p. 128.
4,427
1,315
1,674
442
581
539
243
141
125
28
6,989
2,756
2,959
2,055
1,739
1,957
879
380
334
361
9,514 .20,409
36,160 21,932
5,876
6,624
5,015
8, 356
2,300
5,286
1 009 4 557
461
2,887
181
1,581
31
1,187
3,412
45
44
953
244
789
894
766
557
174
201
61
4
16
51,121
53,608
6,874
962
355
196
159
308
18
261
15
28
15
2,319
18,835
4 373
4,224
1,966
1 484
7,522
2 139
1,583
1,062
604
640
543
271
45
932
457
348
71
319
31
32,985
14,465
128
STATISTICS OF INCOME
TABLE 11.—Individual returns for 1985 on Form 1040 with no net income, by deficit
classes, showing sources of income and deductions, and deficit—Continued
[Deficit classes and money figures in thousancIs of dollars]
Sources
of income—
Contd.
Deductions
Deficit classes
Deficit
Total
income
Under 5—
156,426
37,502
37,396
21, 011
14,821
8,949
5,707
3,083
2,483
1,275
1,000 and over..
5-10
10-25
25-50
50-100
100-150.
150-300
300-500
500-1,000
Total
288, 653
1
1
Business
loss
PartNet
nership capital
lossi
loss 2
Interest
paid4
Taxes
paid *
Contri- Other
butions deductions
Total
deductions
62,546
20,088
16,342
6,673
3,896
2,399
2,069
1,533
523
7,817
3,767
5,557
4,146
4,312
1,502
2,881
1,678
2,550
1,391
17,192
2,017
1,407
564
256
66
63
32
16
4
35,293
8,422
9,334
4,982
3,539
2,596
2,288
790
460
219
29,743
6,230
5,917
2,730
1,696
903
743
137
160
156
2,997
580
756
355
103
49
29
44
83
3
101,124
43,934
58,277
44,444
35,262
23,834
24,438
15,604
18,209
10,259
256,711
85,038
97,590
63,894
49,064
31,349
32,510
19,818
22,001
12,032
100,285
47,537
60,194
42,882
34, 242
22,400
26,803
16,735
19. 518
10,757
116,068
35,601
21,616
67,924
48,415
4,998
375,384
670,006
381,353
For explanation of item, see p. 8.
For explanation of changes in 1934 Act affecting net capital gain and net capital loss, see text, pp. 7-8,
and synopsis of laws, pp. 138-139.
3
Interest received on Liberty 4 and 4M percent bonds, United States savings bonds, and Treasury bonds,
owned in excess of $5,000, and on obligations of certain instrumentalities of the United States (see items &
and 25, Form 1040, p. 146).
* Excludes amounts reported in schedules A and B as business deductions.
REVENUE ACTS OF 1913-1934
AND CERTAIN TAX PROVISIONS OF
THE NATIONAL INDUSTRIAL RECOVERY ACT (1933)
ALSO ESTATE TAX PROVISIONS UNDER
THE REVENUE ACT OF 1935
A SYNOPSIS OF
INDIVIDUAL INCOME AND PROFITS TAX RATES
ESTATE AND GIFT TAX RATES
CREDITS AND EXEMPTIONS
AFFECTING THE COMPARABILITY OF DATA
IN "STATISTICS OF INCOME"
129
A SYNOPSIS OF INDIVIDUAL INCOME AND PROFITS TAX RATES, ESTATE
AND GIFT TAX RATES, CREDITS AND EXEMPTIONS AFFECTING THE
COMPARABILITY OF DATA IN "STATISTICS OF INCOME"
INDIVIDUALS
A. Individuals required to file returns, personal exemption, credit
for dependents, and normal tax rates, under the Revenue Acts of 1913
through 1934, and certain tax provisions of the National Industrial
Recovery Act (1933).
B. Individual surtax rates and total surtax under the Revenue Acts
of 1913 through 1934.
C. Individual supplemental income and profits tax rates and tax
credits, under the Revenue Acts of 1917 through 1934.
ESTATES
D. Estate tax rates, total estate tax, specific exemption, and credits
against estate tax, under the Revenue Acts of 1916 through 1935.
GIFTS
E. Gift tax rates, total gift tax, specific exemption, exclusions and
deductions under the Revenue Acts of 1924, 1932, and 1932 as
amended by 1934.
131
132
STATISTICS OF INCOME
A.—Individuals required to file returns, personal exemption, credit for dependents,
tax provisions of the National
Applicable to citizens and residents of the United States
Individuals required to file returns J
Married and living with
husband or wife 4
Revenue Act
Single, or married and
not living with husband or wife
Income year
Net income 5
Net income 5
$3,000
3,000
}l917
2,000
1,000
(1918
2,000
1,000
1918 (Feb 24,1919)
1921 (Nov. 23,1921).
11919,1920
(1921
•U922
1924 (June 2,1924)
11923 "L
1924.
1926 (Feb. 26,1926)
Gross income regardless
of amount
of net income
$3,000
3,000
Mar. 1, 1913, through
Dec. 31,1915.
1916
1913 (Oct. 3,1913)
1916 (Sept. 8,1916)
1916 as amended and
1917 (Oct. 3,1917)
Gross income regardless
of amount
of net income
2,000
1,000
$5,000
1,000
$5,000
5,000
1,000
5,000
3,500
5,000
1,500
5,000
3, 500
5,000
1,500
5,000
1932, 1933
1933
2,500
5,000
1,000
5,000
1934,1935
2,500
5,000
1,000
5,000
J1925.
]l927.
1928
I
2,000
1
2,500
1
1
1929
1928 (May 29,1928)
1930
J931
1932 (June 6,1932)
National Industrial Recovery
Act (June 16,1933) .is
1934 (May 10,1934)
For footnotes, see pp. 134-135.
133
STATISTICS OF INCOME
and normal tax rates, under the Revenue Acts of 1913 through 1984) and certain
Industrial Recovery Act (1933)
Applicable to nonresident aliens l
Applicable to citizens and residents of the United States—Contd.
Personal exemption
Personal exemption and credit
for dependents 3
Married
and living
with husband or
wife, or
head of
family 7
7
Single, or
married
Credit
and not living for each
with husband dependor wife, and
ent8
not head7 of
family
$4,000
7 $3,000
None
4,000
3,000
None
2,000
1,000
$200
2,000
1,000
200
2,000
1,000
200
» 2,500
1,000
2,500
1,000
3,500
1,500
3, 500
1,500
400
400
400
400
2,500
1,000
400
2,500
1,000
400
Net income subject
to normal tax 6
Normal
tax rate
(percent)
Married
and living
with husband or
wife, or
head of
family i
NorSingle, or
mal
married Credit
and not for each tax 8
living depend- rate
(perwith hus- ent 8
cent)
band or
wife, and
not head
of family'
1
All
All
/First $2,000
\Balance over $2,000-.
/First $4,000
\Balance over $4,000..
/First $4,000
\Balance over $4,000. .
/First $4,000
(Balance over $4,000. _
First $4,000
Second $4,000
Balance over $8,000..
First $4,000
Second $4,000
Balance over $8,000..
(First $4,000
^Second $4,000
[Balance over $8,000.
First $4,000
^Second $4,000
[Balance over $8,000.
First $4,000.
^Second $4,000
[Balance over $8,000.
(First $4,000
< Second $4,000
(Balance over $8,000.
/First $4,000
\Balance over $4,000..
AIL.
$4,000
2
$3,000
2
12
12
4
8
»8
1,000
1,000
1,000
(12)
13 6
1,500
1,500
(II)
135
1,500
1,500
(12)
"5
1,500
1,500
(12)
1,500
1,500
(12)
1,500
}
1,000
1,500
(12)
1,000
1,000
(12)
1,000
1,000
(12)
13 5
"8
"4
134
STATISTICS OF INCOME
[Footnotes for table A]
1 Required to file income tax returns for all income from sources within the United States (except income
specifically exempt by law) regardless of amount, unless total tax has been paid at source.
2
(a) Under the Revenue Acts of 1913,1916, and 1917, individuals were required to file returns on a calendar
year basis, while under the Revenue Act of 1918 and subsequent acts returns are permitted for a fiscal
year other than that ending Dec. 31.
(6) For the years 1913 through 1915, a citizen or resident of the United States whose net income was
less than $20,000 and for whom a full return was made by withholding agents was not required to file a return.
(c) For 1921 and subsequent years citizens deriving a large portion of their gross income from sources
within a possession of the United States are required to file returns for all income derived from sources
within the United States, or income from sources within or without the United States received within the
United States, regardless of amount. (See sec. 262 of the Revenue Acts of 1921, 1924, and 1926, and sec. 251
of the Revenue Act of 1928, and subsequent acts.)
(d) For 1925 and subsequent years American citizens who are nonresidents of the United States for more
than 6 months of the year are not required to report earned income from sources without the United States,
and are not required to file returns unless their gross income, exclusive of such exempt earned income, equals
or exceeds $5,000; or unless their net income, exclusive of such exempt earned income, equals or exceeds the
amount indicated in this table under "Individuals required to file returns." (See also (c) above.) For
1932 and subsequent years the exclusion from gross income of earned income from sources without the United
States does not apply to amounts paid by the United States or any agency thereof. (See sec. 116 (a), Revenue Acts of 1932 and 1934.) The compensation of resident alien employees of foreign governments is excluded from gross income under certain conditions. (See sec. 116 (h), Revenue Act of 1934, which subsection
(h) was added by Public No. 374, 74th Congress, and which is retroactive, subject to the statutory period of
limitation.)
3
Not applicable to citizens deriving a large portion of their gross income from sources within a possession
of the United States, 1921 and subsequent years. Such citizens are entitled to the personal exemption
shown in this table for nonresident aliens, 1921 and subsequent years.
4
Husband and wife each to file a return unless combined income is included in joint return.
s Net income means "statutory" net income, i. e., the excess of gross income over deductions as defined
in the various revenue acts. Net income has been adjusted from time to time as follows:
(a) Amortization of buildings, machinery, equipment, or other facilities constructed or acquired on or
after April 6, 1917, for the production of articles contributing to the prosecution of the war is included to
a reasonable amount in business deductions, 1918 through 1921.
(6) Contributions to charitable and scientific organizations, etc., not exceeding 15 percent of the net
income before deducting the contributions, are deductible for 1917 and subsequent years. (For unlimited
deduction of contributions see sec. 214 (10), Revenue Acts of 1924 and 1926, and sec. 120, Revenue Act of 1928,
and subsequent acts.)
) c) Losses sustained in transactions entered into for profit but not connected with business or trade are
not deductible, 1913 through 1915. For 1916 and 1917 such losses are deductible to the extent of the aggregate income from such transactions; for 1918 through 1931, such losses are wholly deductible, excepting that
for the years 1924 through 1933 the loss, if incurred through the sale of capital assets held for more than 2
years, is deductible from total tax to the extent of 12H percent of the loss. (See table C, p. 139.) For the
years 1932 and 1933 losses from sales or exchanges of stocks or bonds (other than capital assets held for more
than 2 years, and other than bonds issued by a government or political subdivision thereof) are allowed only
to the extent of the gains from such sales or exchanges. The Revenue Act of 1932 provides that any excess
loss thus disallowed, computed without regard to any losses sustained during the preceding taxable year, is,
to an amount not in excess of the taxpayer's net income for the taxable year, considered as loss sustained in
the succeeding taxable year from sales or exchanges of stocks or bonds other than capital assets. (See sec.
23 (r) (2), Revenue Act of 1932.) However, section 218 (b) of the National Industrial Recovery Act repeals,
effective as of Jan. 1, 1933, section 23 (r) (2) of the Revenue Act of 1932, thereby limiting the application of
losses from the sale or exchange of stocks or bonds (other than capital assets) to gains from similar transactions during the same taxable year and prohibiting the carrying forward and application of such losses to
gains from similar transactions in the succeeding taxable year. Under the Revenue Act of 1932, the limitation on the deduction of losses from sale or exchange of stocks or bonds does not apply to persons dealing in
securities or carrying on the banking business. (See sec. 23 (r) (3), Revenue Act of 1932.) However, section
218 (c) of the National Industrial Recovery Act amends, effective as of Jan. 1, 1933, section 23 (r) (3) of the
Revenue Act of 1932, by removing the exemption from the stock-loss limitation allowed to persons carrying
on the banking business, thereby limiting the application of losses from the sale or exchange of stocks or
bonds (other than capital assets) to gains from similar transactions, and prohibiting the use of such losses to
reduce income from other sources. Section 218 (d) of the National Industrial Recovery Act also amends,
effective as of Jan. 1,1933, section 182 (a) of the Revenue Act of 1932 by removing the privilege of individual
STATISTICS OF INCOME
135
members of a partnership to reduce their individual net incomes by their proportionate shares of a net loss
incurred by the partnership through the sale or exchange of stocks or bonds (other than capital assets).
By the Revenue Act of 1934 the definition of capital assets is broadened to include all property held by taxpayer, whether or not connected with trade or business regardless of period held, except stock in trade,
property which would be included in inventory, or property held for sale in ordinary course of business or
trade. For 1934 and subsequent years capital losses are computed on the basis of certain percentages which
vary according to the period for which assets have been held,, and deduction of capital losses (after the percentages are applied) is limited to $2,000 after subtracting gains from such sales (such deduction not to exceed
the final net loss from such sales after the percentages are applied). (For method of computing capital gains
and losses, see table C, p. 139.) The Revenue Act of 1934 allows losses from wagering transactions only to
the extent of the gains from such transactions, and denies deductions for losses from sales or exchanges of
property, directly or indirectly, between members of a family and (except in case of distributions in liquidation) between an individual and a corporation in which such individual owns, directly or indirectly, more
than 50 percent in value of the outstanding stock. (See sec. 24 (a) (6), Revenue Act of 1934.)
(d) Net loss for prior year resulting from the operation of any trade or business regularly carried on by
the taxpayer: In the case of a net loss for any taxable year beginning after Oct. 31, 1918, and ending prior
to Jan. 1, 1920, the Revenue Act of 1918 provides for the deduction of such loss from net income of the preceding year, a redetermination of taxes for the preceding year being made. When the net loss exceeds the
net income for the preceding year, the amount of such excess is to be deducted from the net income of the
succeeding taxable year. The Revenue Acts of 1921 through 1928 provide that net loss in any year beginning after Dec. 31,1920, may be deducted from the net income of the succeeding taxable year, and if such net
loss exceeds the net income for the succeeding year, the amount of such excess is to be allowed in the next
succeeding year. The Revenue Act of 1932 provides that a net loss for the year 1930 or 1931 shall be allowed
as a deduction in computing net income for the next succeeding taxable year only. (See sec. 23 (i) and sec.
117, Revenue Act of 1932.) However, section 218 (a) of the National Industrial Recovery Act repeals,
effective as of Jan. 1, 1933, sections 23 (i) and 117 of the Revenue Act of 1932, thereby removing the privilege
of deducting from the net income for the current taxable year a net loss for the preceding taxable year. There
is 6 provision in the Revenue Act of 1934 for deduction of net loss for prior year.
no
Net income subject to normal tax is all net income after deducting the sum of:
(a) Personal exemption.
(b) Credit for dependents, 1917 and subsequent years.
(c) Dividends on stock of domestic corporations, 1913 through 1935, other than (1) corporations deriving
a large portion of their gross income from sources within a possession of the United States, 1921 and subsequent years, and (2) China Trade Act corporations, 1922 and subsequent years, and (3) corporations exempt
from tax, 1932 and subsequent years.
(d) Dividends on stock of foreign corporations receiving a certain amount of income from sources within
the United States, for the years 1913 through 1933.
(«) Income, the tax upon which has been paid or withheld for payment at the source of income for the
years 1913 through 1917.
(/) Interest not wholly tax exempt on United States obligations issued after Sept. 1,1917, which is required
to be included in gross income, and for 1934 and subsequent years, interest on obligations of instrumentalities of the United States, as defined in section 25 (a) (3), Revenue Act of 1934.
(g) Credit of 10 percent of the amount of the earned net income, but not in excess of 10 percent of the entire
net income for 1934 and subsequent years. (See table C, p. 139.) (See note 13.)
7
No provision for head of family in Revenue Act of 1913. Exemption prorated for period Mar. 1 through
Dec. 31, 1913.
s For each dependent under 18 years of age or incapable of self-support because mentally or physically
defective.
9 Nonresident aliens are allowed the personal exemption ($1,000 if single, $2,000 if married) and the credit
for each dependent ($200) only when the country of which nonresident alien is a citizen, either imposes
no income tax or allows similar credit to citizens of the United States not residing within such foreign country.
i° Tax for 1923 reduced 25 percent by credit or refund under section 1200 (a) of the Revenue Act of 1924.
11
For net incomes in excess of $5,000, personal exemption is $2,000.
1 For 1922 and subsequent years, if nonresident alien is resident of contiguous country (Canada or Mex2
ico), $400 credit allowed for each dependent.
13
For 1922 through 1933, alien residents of contiguous countries (Canada or Mexico) on net income attributable to compensation for labor or personal services actually performed in the United States, receive
benefit of normal tax rate provided for United States citizens. For 1934 and 1935 the rate of normal tax is
the same for all individuals, both resident and nonresident.
" See Joint Resolution of Congress, No. 133, approved by the President Dec. 16, 1929, reducing rates
of income tax for 1929.
i« See note 5 (c) and (d).
136
STATISTICS OF INCOME
B.—Individual surtax rates and total surtax
Net income *
Revenue Act
1913
Exceed- Equaling
ing
Thousands of dollars
4
5
5
6
7.5
8
10
12
12.5
13
14
15
16
18
20
22
&
26
28
30
32
34
36
38
40
42
44
46
48
50
52
54
56
58
60
62
64
66
68
70
72
74
75
76
78
80
82
84
86
88
90
92
94
96
98
100
150
200
250
300
400
500
750
1,000
1,500
2,000
5,000
On incomes for
Mar. 1, 1913,
through Dec. 31,
1915
Rate
(percent)
1917
1916
Total
surtax
On incomes for
1916
Rate
(percent)
Total
surtax
6
7.5
g
10
12
12.5
13
14
15
16
18
20
22
24
26
28
30
32
34
36
38
40
42
44
46
48
50
52
54
56
58
60
62
64
66
68
70
72
74
75
76
78
80
82
84
86
88
90
92
94
96
98
100
150
200
250
300
400
500
750
1,000
1,500
2,000
5,000
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
2
2
2
3
3
3
3
3
3
3
3
3
3
3
3
3
4
4
4
5
5
5
6
6
6
6
6
6
$20
40
60
80
100
120
140
160
180
200
220
240
260
280
300
340
380
420
460
500
540
580
620
660
700
740
780
800
830
890
950
1,010
1,070
1,130
1,190
1,250
1,310
1,370
1,430
1,490
1,550
3,550
5,550
7,550
10,050
15, 050
20,050
35, 050
50,050
80,050
110,050
290,050
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
3
3
3
3
3
3
3
3
3
3
3
4
4
4
4
4
4
4
4
4
4
5
6
8
9
9
10
10
11
12
13
13
$20
40
60
80
100
120
140
160
180
200
240
280
320
360
400
440
480
520
560
600
660
720
780
840
900
960
1,020
1,050
1,080
1,140
1,200
,280
,360
,440
,520
,600
1,680
1,760
1,840
1,920
2,000
4,500
7,500
11,000
15,000
24,000
33,000
58,000
83,000
138,000
198,000
588,000
1918
On incomes for 1917
On incomes
1918, 1919,
and Act of
on incomes
1921
Rate
(percent)
Rate
(percent)
1
1
2
2
3
3
4
4
4
5
5
5
8
8
8
8
8
8
8
8
8
8
12
12
12
12
12
12
12
12
12
12
17
17
17
17
17
17
17
17
17
17
17
22
22
22
22
22
22
22
22
22
22
27
31
37
42
46
46
50
55
61
62
63
63
Total
surtax
$10
25
35
75
135
150
170
210
250
300
400
500
660
820
980
1,140
1,300
1,460
1,620
1,780
1,940
2,100
2,340
2,580
2,820
3,060
3,300
3,540
3,780
4,020
4,260
4,500
4,840
5,180
5,520
5,860
6,200
6,540
6,880
7,050
7,220
7,560
7,900
8,340
8,780
9,220
9,660
10,100
10, 540
10, 980
11,420
11,860
12,300
25, 800
41,300
59, 800
80,800
126, 800
172, 800
297,800
435,300
740, 300
1,050,300
2, 940, 300
1
2
2
3
4
5
5
5
6
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
36
37
38
39
40
41
42
43
44
45
46
47
48
52
56
60
60
63
63
64
64
65
65
65
65
for
1920,
1921
for
Total
surtax
$10
40
50
110
190
215
240
290
350
410
550
710
890
1,090
1,310
1,550
1,810
2,090
2,390
2,710
3,050
3,410
3,790
4,190
4,610
5,050
5,510
5,990
6,490
7,010
7,550
8,110
8,690
9,290
9,910
10, 550
11,210
11, 890
12, 590
12, 950
13, 310
14,050
14,810
15, 590
16,390
17,210
18,050
18,910
19,790
20, 690
21, 610
22, 550
23, 510
49, 510
77, 510
107, 510
137, 510
200, 510
263, 510
423,510
583, 510
908, 510
1,233, 510
3,183,510
1
In arriving at the net income subject to surtax for 1934 and 1935, the sum of the personal exemption and
credit for dependents is allowed as a credit; prior to 1934 no such credit was allowed.
137
STATISTICS OF INCOME
under the Revenue Acts of 1913 through 1984
Net income l
Revenue Act
1924
1926
1932
1934
On incomes for
1924
On incomes for
1925,1926, 1927,
and Act of 1928
on incomes for
1928 through
1931
On incomes for
1932, 1933
On incomes for"
1934. 1935
1921
Exceed- E q u a l
ing
ing
Thousands of
dollars
4
5
5
6
6
7. 5
8
7.5
8
10
12
10
12
12.5
13
12.5
13
14
14
15
15
16
16
18
18
20
22
20
24
22
24
26
26
28
28
30
30
32
34
32
34
36
38
36
38
40
40
42
42
44
44
46
46
48
48
50
50
52
62
54
54
56
56
58
58
60
60
62
62
64
64
66
66
68
68
70
70
72
72
74
74
75
75
76
76
78
78
80
80
82
82
84
84
86
86
88
88
90
90
92
92
94
94
96
96
98
98
100
100
150
150
200
200
250
250
300
300
400
400
500
500
750
750
,000
1,000
,500
,000
1,500
,000
2,000
5,000
On incomes for
1922, 1923 2
Rate
(percent)
Total
surtax
1
$15
1
20
1
40
2
80
3
95
3
110
3
140
4
180
4
220
5
320
6
440
600
8
780
9
10
980
11
1,200
12
1,440
13
1,700
15
2,000
15
2,300
16
2,620
17
2,960
18
3, 320
3,700
19
20
4,100
21
4,520
22
4,960
23
5,420
24
5,900
25
6,400
26
6,920
27
7,4C0
28
8,020
8,600
29
30
9,200
31
9,820
32
10, 460
33
11,120
34
11, 800
35
12,150
35
12, 500
36
13, 220
37
13.960
38
14, 720
15, 500
39
40
16, 300
41
17,120
42
17,960
43
18,820
44
19, 700
45
20, 600
46
21, 520
47
22, 460
46, 460
48
49
70, 960
95, 960
50
120, 960
50
50
170, 960
220, 960
50
345, 960
50
50
470, 960
50
720,960
50
970, 960
50 2, 470, 960
50
Rate
(percent)
Total
surtax
Rate
(percent)
Total
surtax
Rate
(percent)
x
1
$20
1
25
1
30
1
40
2
60
2
80
3
140
4
220
5
320
6
440
7
580
8
740
920
9
10
1,120
10
1,320
11
1,540
12
1,780
13
2,040
13
2,300
14
2,580
15
2,880
16
3,200
17
3, 540
18
3,900
4,280
19
4,660
19
20
5, 060
21
5,480
21
5,900
22
6,340
23
6,800
24
7,280
25
7,780
26
8,300
26
8,820
27
9,090
27
9,360
28
9,920
28
10,480
29
11, 060
30
11, 660
31
12, 280
31
12, 900
32
13, 540
33
14,200
34
14,880
35
15, 580
36
16, 300
36
17, 020
37
35, 520
37
54,020
73,020
38
92, 020
38
39
131,020
39
170, 020
40
270,020
40
370, 020
40
570, 020
40
770, 020
40 1,970, 020
40
1
1
1
1
2
2
3
4
5
6
7
7
8
8
9
9
10
10
11
11
12
12
13
13
14
14
15
15
16
16
17
17
17
18
18
18
18
18
18
19
19
19
19
19
19
19
19
19
19
20
20
20
20
20
20
20
20
20
20
20
20
$20
25
30
40
60
80
140
220
320
440
580
720
880
1,040
1,220
1,400
1,600
1,800
2,020
2,240
2,480
2,720
2,980
3,240
3,520
3,800
4,100
4,400
4,720
5,040
5,380
5,720
6,060
6,420
6,780
6,960
7,140
7,500
7,860
8,240
8,620
9,000
9,380
9,760
10,140
10, 520
10,900
11,280
11, 660
21, 660
31, 660
41, 660
51,660
71, 660
91, 660
141, 660
191, 660
291, 660
391, 660
991, 660
Total
surtax
$15
1
20
1
40
2
80
3
95
3
110
3
140
4
180
4
220
5
320
6
440
8
600
780
9
10
980
11
1,200
12
1,440
13
1,700
15
2,000
15
2,300
16
2,620
17
2,960
18
3,320
3,700
19
20
4,100
21
4,520
22
4,960
23
5,420
24
5,900
25
6,400
26
6,920
27
7,460
28
8,020
8,600
29
30
9,200
31
9,820
32
10,460
33
11,120
34
11, 800
35
12,150
35
12, 500
36
13, 220
37
13,960
38
14, 720
15, 500
39
40
16, 300
41
17,120
42
17,960
43
18,820
44
19, 700
45
20, 6C0
46
21, 520
47
22, 460
48
46,460
49
70, 960
50
95,960
120, 960
50
51
171,960
52
223,960
53
356, 460
54
491, 460
55
766,460
55 1, 041, 460
55 2, 691, 460
55
Rate
(per
cent)
4
4
5
6
7
8
8
8
9
9
11
13
15
17
17
19
19
19
21
21
21
24
24
24
27
27
27
30
30
30
33
33
33
36
36
36
39
39
39
42
42
42
42
45
45
45
45
45
50
50
50
50
50
52
53
54
54
55
56
57
58
59
59
59
59
Total
surtax
$40
80
155
180
300
440
480
520
600
690
780
1,000
1,260
1,560
1,900
2,240
2,620
3,000
3,380
3,800
4,220
4,640
5,120
5,600
6,080
6,620
7,160
7,700
8,300
8,900
9,500
10,160
10,820
11,480
12, 200
12,920
13,640
14,420
15, 200
15,980
16,400
16,820
17, 660
18,500
19,400
20,300
21,200
22,100
23, 000
24,000
25,000
26,000
27,000
28,000
54,000
80, 500
107, 500
134, 500
189, 500
245, 500
388,000
533,000
828,000
1,123,000
2,893,000
2 Tax for 1923 reduced 25 percent by credit or refund under section 1200 (a), Revenue Act of 1924.
138
STATISTICS OF INCOME
C.—Individual supplemental income and profits tax rates
Tax credit for income and profits taxes paid
to foreign countries or United States possessions
Excess-profits tax
Revenue
Act
Income
year
1917
1917
Income subject to excessprofits tax
Salaries in excess of $6,000,!
and income in excess of
$6,000 i from business having no invested capital.
Net income from business
having invested capital: 2
Net income equal to 15
percent of invested capital less deduction.3
Net income in excess of 15
percent of invested capital but not in excess of
20 percent of invested
capital.
Net income in excess of 20
percent of invested capital but not in excess of
25 percent of invested
capital.
Net income in excess of 25
percent of invested capital but not in excess of
33 percent of invested
capital.
Net income in excess of 33
percent of invested capital.
Rate
(percent)
Revenue
Act
Income
year
8
1917
1917
20
25
1918
35
45
1921
1921
1924
1926
1928
1932
1934
Amount of credit
Income and profits
taxes paid to foreign
countries or United
States possessions
were not allowed as
a tax credit b u t
were included in
general deductions
from gross income,
except that taxes
paid to foreign countries were not allowed to nonresident aliens.
Amount4 paid or ac1918,1919,
crued.
1920
Do.s
1921
Do.
1922, 1923 e
Do.
1924
Do.
1925.1926,
1927
1928,1929,
Do.
1930,1931
1932,1933
Do;
1934,1935
Do;
60
* In excess of $3,000 for nonresident aliens.
2 Nonresident aliens having business with invested capital, reported only that proportion of invested
capital which net income from sources within the United States was of the entire net income.
3
Deduction (not allowable to nonresident aliens), $6,000 plus an amount equal to the same percentage of
invested capital for taxable year as the average annual pre-war income was of pre-war invested capital (not
less than 7 percent nor more than 9 percent). If not established during at least one whole year of the pre-war
period, 8 percent. If, during the pre-war period, the individual had a deficit or a very small income from
business, or if invested capital cannot be determined, same percent as that of representative businesses.
(See sec. 210, Revenue Act of 1917.)
* Nonresident aliens were not allowed to deduct income taxes paid to foreign countries, either as a tax
credit or in general deductions for the years 1918, 1919, and 1920.
« Beginning with 1921, the credit cannot exceed the proportion of the total tax against which the credit is
taken, that the taxpayer's net income from sources without the United States bears to the entire net income.
This credit does not apply to nonresident aliens nor to citizens deriving a large portion of their gross income
from sources within a possession of the United States, but to such persons these taxes are allowable as a
deduction from gross income, if imposed upon income from sources within the United States. For the
years 1921 through 1931, the amount of income and profits taxes paid to foreign countries or United States
possessions, in excess of that deducted as a tax credit, is permitted to be included in deductions against
gross income. (See note 7.)
* Tax for 1923 reduced 25 percent by credit or refund under section 1200 (a) of the Revenue Act of 1924.
* For 1932 and subsequent years, the taxpayer may elect to credit the income and profits taxes paid to
foreign countries or United States possessions (with certain limitations) against the income tax liability to
the United States, or to include the entire amount of such taxes in deductions against gross income. (See
sees. 131 and 23 (c) (2), Revenue Acts of 1932 and 1934.)
s Except stock in trade, property which would be included in inventory, or property held for sale in
ordinary course of business or trade.
* The following percentages of the gains or losses recognized upon the sale or exchange of capital assets
&re taken into account in computing net income:
100 percent if capital asset was held not over 1 year.
80 percent if capital asset was held over 1 year, but not over 2 years.
60 percent if capital asset was held over 2 years, but not over 5 years.
40 percent if capital asset was held over 5 years, but not over 10 years.
30 percent if capital asset was held over 10 years.
139
STATISTICS OF INCOME
and tax credits, under the Revenue Acts of 1917 through 1934
Capital gains and losses
Revenue
Act
Income
year
Definition
of capital
1921
1922,1923 6
Assets
held over
2 years.
1924
1924
...do
1926
1925,1926,
1927
1928,1929,
1930,1931
1932,1933
1934,1935
...do
1928
1932
1934
Tax on capital net gain
Tax credit on capital net loss
assets
do
Taxpayer may elect to be taxed
at 12^ percent on capital net
gain, provided that the total
tax, including the tax on capital
net gain, is not less than 12^
percent of the total net income.
(Loss in ordinary net income
cannot be deducted from capital
net gain.)
Taxpayer may elect to be taxed Capital net loss may be reported
at 12H percent on capital net
apart from ordinary net ingain, if the tax would be greater
come, and a tax credit of 12^
than 12J/£ percent by including
percent of the capital net loss
capital net gain in ordinary net
taken, if tax thus produced is
income. (Loss in ordinary net
not less than the tax would be
income may be deducted from
if the capital net loss were decapital net gain and the balance
ducted from ordinary net intaxed at 123/£ percent.)
come.
__ Same as 1924 Act.
_. Same as 1924 Act
.
do
All property held
by taxpayer,
whether
or n o t
connected with
trade or
business,
regardl e s s of
p e rio d
held.3
do
-._
do
Taxable gains, and losses are computed on basis of certain percentages 9 which vary according to
period for which assets were held.
Capital net gains, after the percentages are applied, are included in net income and are
subject to normal tax and surtax.
Deduction for capital losses,
after the percentages are applied, is limited to $2,000 after
subtracting gains from such
sales (such deduction not to
exceed the final net loss from
such sales after the percentages
are applied).
Do.
Do.
None. (See preceding column
for deduction of capital losses
from net income.)
Credit on earned net income
Revenue
Act
Income
year
Kind of
credit
Earned net income subject to tax
for computation of credit
Limit of credit
1924
1924
Against
tax.
All net income up to $5,000 whether
earned or not, and up to $10,000,
if earned.
1926
1925,1926,
1927
...do
All net income up to $5,000,
whether earned or not, and up
to $20,000, if earned.
1928
1928,1929,
1930,1931
...do..
1932
1934
1932,1933
1934,1935
All net income up to $5,000,
whether earned or not, and up to
$30,000, if earned.
25 percent of normal tax on
earned net income. (Cannot
exceed 25 percent of normal tax
on ordinary net income.)
25 percent of total tax on earned
net income. (Cannot exceed
the sum of 25 percent of normal
tax on ordinary net income
and 25 percent of surtax on
earned net income.)
Do.
Against
net income.
All net income up to $3,000 whether
earned or not, and up to $14,000,
if earned.
10 percent of the earned net income, but not in excess of 10
percent of the entire net income.
D.—Estate tax rates, total estate tax, specific exemption, and credits against estate tax, under the Revenue Acts of 1916 through 1935 l
Net estate
Revenue Act
1916
Exceeding Equaling
Thousandt
10
20
30
40
50
70
100
150
200
250
400
450
600
750
800
LOGO
1,500
2,000
2,500
3,000
3, 500
4,000
4,500
5,000
6,000
7,000
8,000
9,000
10, 000
20,000
50,000
of dollars
10
20
30
40
50
70
100
150
200
250
400
450
600
750
800
1.000
1.500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
6,000
7,000
8,000
9,000
10, OCO
20,000
50,000
1916
as amended by Act
of Mar. 3, 1917
1917
1918, 1921, 1924 a s
a m e n d e d b y 1926
1932 2
1926
1932 2
]L932
2
as amended by
as amended by
1934
1935
In effect Sept. 9,
1916, through
Mar. 2, 1917
In effect Mar. 3,
1917, through
Oct. 3, 1917
I n effect O c t . 4, I n effect 6:55 p . m . ,
1917, t h r o u g h
F e b . 24, 1919,
6:54 p . m . , F e b . 24,
t h r o u g h 10:24
1919
a. m . , F e b . 26,1926
In effect after
10:24 a. m., Feb.
26, 1926
I n effect 5 p . m.,
J u n e 6, 1932,
through M a y
10, 1934
In effect May 11
1934, through
Aug. 30, 1935
In effect after
Rate
(percent)
1
1
1
1
1
2
2
2
3
3
4
4
5
5
5
5
6
6
7
7
8
8
9
9
10
10
10
10
10
10
10
10
Rate
(percent)
iH
Rate
(percent)
2
2
2
2
2
4
4
4
6
6
8
8
10
10
10
10
12
12
14
14
16
16
18
18
20
20
20
22
22
25
25
25
Rate
(percent)
1
1
1
1
1
2
2
3
3
4
4
5
5
6
6
7
8
9
10
11
12
13
14
14
15
16
17
18
19
20
20
20
Rate
(percent)
1
2
3
4
5
7
7
9
9
11
11
13
13
15
15
17
19
21
23
25
27
29
31
33
35
37
39
41
43
45
45
45
Rate
(percent)
1
2
3
4
5
7
9
12
12
16
16
19
19
22
22
25
28
31
34
37
40
43
46
48
50
52
54
56
58
60
60
60
Rate
(percent)
2
4
6
8
10
12
14
17
17
20
20
23
23
26
26
29
32
35
38
41
44
47
50
53
56
59
61
63
65
67
69
70
Total tax
$100
200
300
400
500
900
1,500
2,500
4,000
5,500
11, 500
13, 500
21, 000
28, 500
31,000
41, 000
71, 000
101, 000
136,000
171, 000
211, 000
251, 000
296,000
341, 000
441, 000
541,000
641, 000
741,000
841, 000
1, 841,000
4, 841,000
IH
3
3
3
4K
4M
6
6
7H
7H
7H
7H
9
9
10H
10H
12
12
13H
13H
15
15
15
15
15
15
15
15
Total tax
$150
300
450
600
750
1,350
2,250
3,750
6,000
8,250
17, 250
20, 250
31, 500
42, 750
46, 500
61, 500
106, 500
151, 500
204,000
256, 500
316, 500
376, 500
444,000
511, 500
661, 500
811, 500
961, 500
1, 111, 500
1, 261, 500
2, 761, 500
7, 261, 500
Total tax
$200
400
600
800
1,000
1,800
3,000
5,000
8,000
11, 000
23,000
27,000
42,000
57,000
62,000
82,000
142,000
202,000
272,000
342,000
422,000
502,000
592,000
682,000
882,000
1,082,000
1, 282, 000
1, 502,000
1, 722,000
4, 222,000
11, 722,000
Rate
(percent)
1
1
1
1
1
2
2
2
3
3
4
4
6
6
8
8
10
12
14
14
16
16
18
18
20
20
20
22
22
25
25
25
Total tax
$100
200
300
400
500
900
1,500
2,500
4,000
5,500
11, 500
13,500
22, 500
31, 500
35, 500
51, 500
101, 500
161, 500
231, 500
301, 500
381, 500
461, 500
551, 500
641, 500
841, 500
1,041, 500
1, 241, 500
1, 461, 500
1, 681, 500
4,181, 500
11, 681, 500
Total tax
$100
200
300
400
500
900
1,500
3.000
4,500
6,500
12, 500
15,000
22, 500
31, 500
34, 500
48, 500
88, 500
133, 500
183,500
238, 500
298, 500
363, 500
433, 500
503, 500
653, 500
813, 500
983, 500
1,163, 500
1, 353, 500
3. 353, 500
9, 353, 500
Total tax
$100
300
600
1,000
1,500
2,900
5,000
9,500
14,000
19, 500
36, 000
42, 500
62,000
84, 500
92,000
126,000
221,000
326,000
441,000
566,000
701,000
846, 000
1,001,000
1,166,000
1, 516,000
1,886,000
2,276,000
2, 686,000
3,116,000
7,616,000
21,116, 000
Total tax
$100
300
600
1,000
1,500
2,900
5,600
11, 600
17,600
25, 600
49, 600
59,100
87, 600
120, 600
131,600
181, 600
321, 600
476,600
646, 600
831.600
1,031,600
1, 246,600
1, 476, 600
1, 716, 600
2, 216, 600
2, 736,600
3, 276,600
3, 836, 600
4,416, 600
10,416,600
28,416, 600
Aug.
30, 1935
Total tax
$200
600
1,200
2,000
3,000
5,400
9,600
18,100
26,600
36, 600
66, 600
78,100
112, 600
151, 600
164,600
222, 600
382, 600
557,600
747, 600
952,600
1,172,600
1,407,600
1,657,600
1,922,600
2,482, 600
3,072,600
3, 682, 600
4,312, 600
4, 962,600
11,662,600
32, 362, 600
zn
H
i—i
Q
a
o
Revenue Act
1916
00
o
1 Specific exemption and credits against
§£
estate taxIn effect
Sept. 9,
1916,
through
Mar. 2,
1917
Specific exemption:
Resident decedents
Nonresident citizen decedents . . . _
Nonresident alien decedents
Credits against Federal estate tax:
Credits for estate, inheritance, legacy or
succession taxes, actually paid to any
State or territory, or the District of
Columbia, in respect of any property
included in gross estate of decedent
for Federal Estate tax purposes.
Credit for Federal gift tax paid by decedent in respect of property included
in gross estate of decedent for Federal
estate tax purposes.
$50,000
1916
as amended
by Act of
Mar. 3,
1917
1917
In effect
In effect
Oct. 4,
Mar. 3,
1917,
through
1917,
6:54 p . m.,
through
Oct. 3,1917 Feb. 24,
1919
$50, 000
$50, 000
1918, 1921, 1924
as amended by
1926
1932 2
1926
In effect 6:55 In effect after 10:24 a.m. In effect 5 p . m . , June 6, 1932,
through May 10, 1934
Feb. 26, 1926
p. m., Feb. 24,
1919, through
10:24 a. m., Feb.
26, 1926
$50, 000._
$100,000
$50,000
(3)
Not to exceed 25
percent of tax
(from 4:01 p.
m., June 2,
1924, through
10:24 a. m.,
Feb. 26, 1926.
Total
amount
paid
under
Revenue Act
of 1924, as
amended.
1932 2
1932 2
as amended as amendby 1934 ed by 1935
In effect
May 11,
1934,
through
Aug. 30,
1935
In effect
after
Aug. 30,
1935
$50,000.... $40,000.
50,000
40,000.
Not to exceed 80 percent of tax (after
10:24 a. m., Feb.
26, 1926).
Total amount paid
under Revenue Act
of 1924, as amended.
Credit for amount
paid under Re venue
Act of 1932 not to exceed the proportion
of the tax computed
under the Revenue
Act of 1926 that the
value of the included
gift bears to the
entire gross estate.
ii
a
Ui
None, for amount paid under
Revenue Act of 1924, as
a m e n d e d . C r e d i t for
amount paid under Revenue
Act of 1932 not to exceed the
proportion of the additional
estate tax that the value of
the included gift bears to the
entire gross estate, and not
to exceed the difference between the gift tax credit
allowed against the tax computed under the Revenue
Act of 1926, and the total
amount of the gift tax.
Same as
1932.
S a m e as
1932.
1 An estate tax return is required for every resident decedent (on and after May 11, 1934, for e ery citizen decedent, regardless of place of residence) whose gross estate as defined
in the statutes, exceeds the specific exemption allowed. A return is also required for every nonresident decedent (on and after May 11, 1934, for every nonresident alien decedent)
any part of whose estate, regardless of value, was situated at date of death in the United States, within the meaning of the statute. The returns are required to be filed within one
year after date of death, except for decedents who died after Aug. 30, 1935, for whom returns are dae 15 months after date of death.
2 Rates for computation of additional tax—additional tax is amount by which tax computed according to rates of Revenue Act of 1932 (or 1932 as amended) exceeds tax computed
according to rates of Revenue Act of 1926.
' Specific exemption of $100,000 is allowed in case of nonresident citizen decedent dying on and after May 11,1934, under 1926 Act as amended by 1934 Act.
>
j
Q
O
g
142
STATISTICS OF INCOME
E.—Gift tax rates, total gift tax, specific exemption, exclusions and deductions under
the Revenue Acts of 1924, 1932, and 1982 as amended by 1984 1
Revenue Act
1932«
1924
Net gifts
As amended by 1926
In effect June 2, 1924,
through Dec. 31,1925.
Exceeding
$10, 000
20,000
30, 000
40,000
50, 000
70,000
100, 000
150,000
200, 000
250, 000
400, 000
450,000
600, 000
750, 000
800, 000
1, 000, 000
1, 500, 000
2, 000, 000
2, 500, 000
3, 000, 000
3, 500, 000
4, 000, 000
4, 500, 000
5, 000, 000
6, 000, 000
7, 000, 000
8, 000, 000
9, 000, 000
10, 000, 000
20, 000, 000
50, 000, 000
Equaling
$10,000
20, 000
30,000
40,000
50,000
70, 000
100, 000
150,000
200,000
250, 000
400, 000
450, 000
600, 000
750, 000
800, 000
1, 000, 000
1, 500,000
2, 000, 000
2, 500, 000
3, 000, 000
3, 500, 000
4, 000, 000
4, 500. 000
5, 000,000
6, 000, 000
7, 000, 000
8, 000, 000
9, 000, 000
10, 000, 000
20, 000, 000
50, 000, 000
Revenue Act
Rate
(percent)
1
1
1
1
1
2
2
2
3
3
4
4
6
6
8
8
10
12
14
14
16
16
18
18
20
20
20
22
22
25
25
25
Amount of
tax
$100
200
300
400
500
900
1,500
2,500
4,000
5,500
11,500
13, 500
22, 500
31, 500
35. 500
51, 500
101, 500
161, 500
231, 500
301, 500
381, 500
461, 500
551, 500
641, 500
841, 500
1,041,500
1,241,500
1, 461, 500
1, 681, 500
4, 181,500
11, 681, 500
In effect June 6, 1932,
through Dec. 31,1934.
Rate
(percent)
V
IV
2M
3
3/4
5
5
63^
6M
8
8
93^
93^
11
11
123^
14
153^
17
18/^
20
2114
23
243^
26
27j/£
29
303^
32
333^
33^
Amount of
tax
$75
225
450
750
1,125
2.125
3,625
6,875
10,125
14,125
26, 125
30, 875
45, 125
61, 625
67,125
92,125
162,125
239, 625
324, 625
417,125
517,125
C24, 625
739, 625
862,125
1,122,125
1,397,125
1, 687, 125
1, 992,125
2,312, 125
5. 662, 125
15, 712,125
1932 2
As amended by 1934
In effect calendar year
1935.
Rate
(percent)
V
\XA
2M
3
3M
5X
6%
9
9
12
12
UX
\4X
16/^
vsy2
18%
21
23 X
25}4
21%
30
3234
34^
36
373^2
39
4014
42
433^
45
45
45
Amount of
tax
$75
225
450
750
1,125
2,175
4,200
8,700
13, 200
19,200
37, 200
44, 325
65, 700
90, 450
98, 700
136, 200
241, 200
357,450
484,950
623, 700
773, 700
934,950
1,107,450
1,287,450
1, 662, 450
2, 0^2, 450
2, 457, 450
2, 877,450
3, 312, 450
7, 812,450
21,312,450
Specific exemption, exclusions, and deductions
1924 as amended by 1926. . Specific exemption:
Resident $50,000 each calendar year.
Nonresident: None.
Gifts to individuals not in excess of $500.
Previously taxed property and charitable, etc., gifts.
1932 and 1932 as amended Specific exemption:
by 1934.
Resident or citizen: $50,000 allowed but once; may be taken all in one year or
over a period of years at option of donor.
Nonresident alien: None.
Exclusion of $5,000 for each donee (except future interests).
Charitable, public, and similar gifts.
1
No gift tax in effect, Jan. 1, 1926, through June 5, 1932. Gift tax returns are required to be filed for the
year ending Dec. 31.
2
Tax for current year is the excess of tax computed on the aggregate sum of net gifts for such current year
and preceding years over tax computed on aggregate sum of net gifts for preceding years.
INCOME TAX FORMS
143
FACSIMILES OF INDIVIDUAL INCOME TAX RETURNS AND
PARTNERSHIP RETURN OF INCOME FOR 1935
Form 1040. Individual income tax return for net incomes from
salaries or wages of more than $5,000, or incomes, regardless of
amount, from business, profession, rents, or sale of property.
Form 1040A. Individual income tax return for net incomes of not
more than $5,000 derived chiefly from salaries and wages.
Form 1065. Partnership return of income.
145
146
STATISTICS OF IXCOME
RETURN F
(A uditor'.
L RETURN
INDIVIDUAL INCOME TAX RETURN
TREASl
SUmp)
FOR NET INCOMES FROM SALARIES OR WAGES OF MORE THAN $5000
AND INCOMES FROM BUSINESS, PROFESSION, RENTS, OR SALE OF PROPERTY
For Calendar Year 1935
Do Not Write In These Spaces
File
Code
Serial
Number
v..
District
o r fiscal y e a r b e j u n
, 1935, a n d e n d e d
, 1936
(C
h . « . Stamp)
File Tbii Return Nol Uler Than lit 15th Day of tbe Third Month Folloiring the Close of the Taxable Year
PRINT NAME AND ADDRESS PJ_AINLY BELOW
(Name)
(Doth husband and wifo, if this is a joint return)
C».h
if^toS^
"
iCounty)
"
--<SU«r"
Chwk
M.O.
C.rt.oflru)
$
pporting in }
Ing your taxable yearT .
bM?*.
INCOME
Amourtrva.*
1. Salaries, Wages, Commissions, Fees, etc. (State name ond address of employer)
$
2. Net profit (or Loss) from Business or Profession.
Erptns,, void
(ErtA« ufctaduur)
$
S
.
(From Schedule A)
3. Interest on Bank Deposits, Notes, Corporation Bonds, etc. (except interest on tax-free covenant bonds)...
4. Interest on Tax-free Covenant Bonds Upon Which a Tax was Paid at Source
5. Income (or Loss) from Partnerships, Syndicates, Pools, etc.
7. Rents and Royalties.
(Furnish name, address, and kind o business)
f
(From Schedule B)
8. Capital Gain (or Loss).
(From Schedule C)
9. Taxable Interest on Liberty Bonds, etc.
....
(From Schedule D, Line (g))
10. Dividends on Stock of: (a) Domestic Corporations subject to taxation under Title I of 1934 Act
(6) Domestic Corporations not subject to taxation undei Title I of 1934 Act
12.
TOTAL INCOME IN ITEMS 1 TO 11
_
_
$
_
DEDUCTIONS
13. Interest Paid.
14. Taxes Paid.
(Explain In Schedule T)
$
„
(Explain in Schedule F)
16. Bad Debts (including bonds determined to be worthless during taxable year).
17. Contributions.
(Explain in Schedule F)
(Explain In Schedule F)
18. Other Deductions Authorized by Law (including stock determined to be worthless during taxable year).
19
TOTAL DEDUCTIONS IN ITEMS 13 TO 18.
20.
N E T INCOME (Item 12 minus Item 19)
$
-
COMPUTATION OF TAX (See Instruction 23)
29. Normal tax (4% of Item 28)
21. Net income (Item 20 above)
$
22. Less: Personal exemption
23.
30. Surtax on Item 24.
Credit for Dependents,
(Explain in Schedule F)
$
'.
24. Balance (Surtax net income)
32. Less: Income tax paid at source (2%
of Item 4)
$....
33.
etc.
$
(See Instruction 23)
3i. Total tax (Item 29 plus Item 30)
$
(Item 9)
26.
Dividends.
27.
Income tax paid to a foreign
country or U. S. possession..
34. Balance of Tax.
(Item 10 (a))
$
(Item 31 minus Iteina 32 and 33)
S
Earned income credit.
(See Instruction 22)
28. Balance subject to normal tax
$
AFFIDAVIT
(See Instruction 27)
I/we swear (or affirm) that this return (including its accompanying schedules and statements, if any) has been
knowledge and belief is a true, correct, and complete return, made in good faith, for the taxable year stated, pursui
lations issued thereunder.
Sworn to and subscribed by
........... . .
« . . . before
........
...
. . day of..
ie this . .
f
s
-
j
. . . . . 192
5i.-i-^.-urJu.-i-:Ei--i£ii;-;«
A RETURN MADE BY AN AGENT MUST BE ACCOMPANIED BY POWER OF ATTORNEY (Set Inslr. 27>
AFFIDAVIT
(See Instruction 27)
I/we swear (or affirm) that I/we prepared this return for the person or persons named herein and that the return (including its accompanying schedules and
statements, if any) is a true, correct, and complete statement of all the information respecting the income tax liability of the p
'
>r persons ' r whom this
return has been prepared of which I/we have any knowledge.
Sworn to and subscribed before me this
day of
, 195
„
:.
147
STATISTICS OF INCOME
SCHEDULE A—PKOF5T (OR LOSS) FROM BUSINESS OR PROFESSION (See Inatruction 2)
1. Tetal receipts <ro
w or profession (state kind of business)...
COST C
2. Labor
10. Salaries not included
3. Material and oupplies
not deduct compensation for your services)...
4. Merchandise bought for sale
,..
11. Interest on business indebtedness to others
5. Other cost* (itemize below or on separata sheet)
12. Taxes on business and business property
6. Plus inventory a t beginning of year...
13. Losses (explain in table at foot of page)
7.
14. Bad debts arising from Bales cr services
15. Depreciation, obsolescence, and depletion (explain id t&blQ providt'Ci st foot of pajjo)
16. Rent, rcp&irs, &HQ otnsf expenses (iteiiiizo below or on separate sheet)
.
*
17.
TOTAL (Lines 10 to 1 6 ) . U_
TOTAL (lines 2 to 6)
8. Less inventory at end of year
9. NET COST or GOODS SOLD (Lino 7 minus Line 8}
ventories are valued at cost, or cost or market, whicheyer is lo
19. NET P n o n r (ox L
(Line 1 minus Lino IS) (Er.te
SCHEDULE B--INCOME FROM: RENTS^ND ROYALTIES (Sea Instruction 7)
-CAPITAL GAINS AND L O S S E S ( Von
ElCHAJiOiD
i
eato baste) ••
1
SCHI
Sa!oa or Exchanges (
r^iolr'o™
Jili
is;rL ction
S
—
—
,0. O^ontos
8. 0*1
Furnish dela.ls)
COUNT
«™NTE
8. Gains
T A
™
b. Losses
• ( • ) I year or loss:
$
•(6) Ovor 1 year bat not
$_
100
S
.$
80
....
•(<) Over 5 y e a n bnt not
over 10 yoara:
•(«) Ovor )0 yean:
(/)
gains)._
TOTAL GAI N8 AND LOSSES (Enter net amot Bt as Item 8 ) (Capital losses are illon-able only t D the extent of |!2,000 pluses
s
$
*In reporting sales en eichangas of capita] assets attach separate schedule. If neoes&iry, for transactions coming w]
gas of capita
^Coat of property must be eatored in Coluiaa 6la a losa is cUlmed in Column 8.
ntered if C
Colnmis 10 above.
fltato (Ij how propOTty was aoquirea
k ahld'b
pontoYfibTe divideods,
9)
3. IHTXSEST RlCDTID
S^o'iSr
—
(o) Obligations of a State, Territory, or political mibdmsiou thereol,
or tho District of Columbia cr United States possessions
$
(&) Obligations isaued under Federal Fann Loan Act, or under such
xxxxxx
All
$
xxxxxx
XX
All
(c) Liberty Z}{ % Bonda and other obligations of United Statea issued
All
(d) Treasury Notes, Treasury Bills, and Treasury Certificates of
Indebtedness
All
$5,000
(e) Liberty 4% and i%% Bonds; U. S. Savings Bonds; Treasury Bonds.
(/) Obligations of instrumentalities of the United States (other than
obligations to be" reported in (6) above)
.
(l)
$
$
None
TOTAL (enter total of column 6 as Item 9)
S.
SCHEDULE E—INCOME FROM DIVIDENDS
Itemize all dividends received during the year, stating amounts and names and addresses of corporations declaring the dividenc
SCHEDULE F—EXPLANATION OF DEDUCTIONS CLAIMED IN ITEMS 1, 13, 14, 16, 17, AND 18, AND CREDIT CLAIMED IN ITEM 23
EXPLANATION OF DEDUCTION FOR DEPRECIATION CLAIMED IN SCHEDULES A AND B
7. LITE U S E D
3. COST OE MARCH 1,1913,
Of buildings, state material
4. A8SET3 FlOLT
DEPRECIATED IN U3S
2. D A T E
PRIOR TO T H A T D A T E
of which constructed)
$
AT E N D o r Y K A B
$
$
«. REMAININO COST
o s OTHER BASIS TO
5. DirSTCIATIOK
ALLOWED (OR ALLOW-
ABLE) IN PRIOR Y E A E S
w
9. DEPRECIATION
$
$
EXPLANATION OF DEDUCTION FOR LOSSES BY FIRE. STORM, ETC., CLAIMED IN SCHEDULE A AND IN ITEM 15
..^OEPBOPERT,
,DATEACQDIRED
3.COST
s
5. DEPRECIATION
4. STJBSEQBEUT
s„
6
$
$
siLVAOE N vlLUK D
7. DEDUCTIBLE LOSS
$
148
STATISTICS OF INCOME
INSTRUCTIONS
The Instructions Numbered 1 to 20 Correspond with the Item Numbers on the First Page of the Return
I. INCOME FROM SALARIES, WAGES, COMMISSIONS, ETC.
Enter as Item 1 on page 1 of the return, all salari
ri
other co
credited by or received from outside source
U
separate line for
giving the information requested.
Any amount claimed as a deduction for necessary expenses against salaries,
etc., such as traveling expenses, while away from home in the pursuit of ft trade
or business, should be fully explained in Schedule F on page 2 of the return, or
on an attached statement. Traveling expenses ordinarily include expenditures
for railroad fares, meals, and lodging.
2. PROFIT (OR LOSS) FROM BUSINESS OR PROFESSION
If you owne d b
n Schedule A on page 2
A
Item 2 - ,_age 1 of the r«
me from: (a) Sale of merchandise or prodThis hedule should in.
cts ui uuuiumtuinug, mining, construction, and agriculture; (6) Business
service, such as hotel, restaurant, and garage service, amusements, laundering,
storage, transportation, etc.; and (c) Professional service, such as dentistry, law,
or medicine. In general, report any income in the earning of which you incurred
expenses for material, labor, supplies, etc.
Farmer's income schedule.—-If you are a farmer and keep no books of account,
or keep books on a cash basis, obtain from the Collector, and attach to this
return, Form 1040F, Schedule of Farm Income and Expenses, and enter the net
farm income as Item 2 on page 1 of this return. If your farm books of account
instailmen^sales.—If the'installment method is used" attacMo the return a
schedule showing Eeparatelv for the years 1932, 1933, 1934, and 1935 the followng: (a) Gross sales; (6) Cost of goods sold; (c) Gross profits; (d) Percentage of
s;
Per
fit
l
() A n t
lltd
d (f)
fit
t
profits t o gross sales; (e) Amount collected; and (/) G s profit o
R
collected. See Section 44 of the Revenue Act of 1934.
ind of buswess.—-Describe the business or profession in the space provided
"grocery," "retail clothing," " d r u g store," "laundry,"
Item 2, pag
doctor," "la
Ttl
i
•eTpts.—Eiiter on t i n e 1 of Schedule A the total receipts, less any
discounts or allowances from the sale price or service charge.
Inventories.—If engaged in a trade or business in which the production, purchase, or sale of merchandise is a n income-producing factor, inventories of merchandise on hand should bo taken a t t h e beginning a n d end of the taxable year,
which may be valued a t cost, or cost or market, whichever is lower.
Salaries.—Enter on Line 10 all salaries not included as " L a b o r " on Line 2,
except compensation for services of yourself, your dependent minor children, or
of husband or wife if a joint return is filed, which is not deductible.
Interest.—Enter o n ' l i n e 11 interest on business indebtedness. Do not
include interest to yourself on capital invested in or advanced to the business.
Taxes.—Enter on Line 12 taxes on business property or for carrying on business. Do not include taxes assessed against local benefits of a kind tending t o
increase the value of the property assessed, nor Federal income taxes, nor estate,
inheritance, legacy, succession, and gift taxes.
Losses.—Enter on Line 13 losses incurred in the trade or business, if not compensated for by insurance or otherwise and not made good by repairs claimed as
a deduction. Losses of business property arising from fire, storm, etc., should
be explained in the table a t the foot of page 2 of t h e return.
Bad debts.—Enter on Line 14 debts, or portions thereof, arising from sales or
services t h a t have been reflected iu income, which have been definitely ascertained t o be worthies.-1, and charged oft' within t h e year, or such reasonable
amount as has been added t o a reserve for bad debts within the year.
A debt previously charged off as bad, if subsequently collected, must be returned as income for the year in which collected.
Depreciation.—Enter on Line 15 the amount claimed as depreciation by reason
of exhaustion, wear and tear of property used in the trade or business, or as
obsolescence or depletion, and explain in the table a t t h e foot of page 2 how
this amount v.as determined. If obsolescence is claimed, explain why the useful
life is less than the actual life.
The amount of depreciation on property acquired by purchase should be
determined upon the'basis of the original cost (not replacement cost) of the
property and the probable number of years remaining of its expected useful life,
except it the property was purchased prior to March 1, 1913, it will be computed
on t h e fair market value of such property as of that date or its original cost (less
depreciation actually sustained before t h a t date), whichever is greater. If the
property was acquired in any other manner than by purchase, see Sections 23
(1), 23 (n), and 114 of t h e Revenue Act of 1934.
In case a deduction is claimed on account of depletion of mines, oil or gas wells,
or timber, see Sections 23 (m), 23 (n), and 114 of the Revenue Act of 1934.
Do not claim any deduction for depreciation in the value of a building occupied
by you as a dwelling, or property held for personal use, nor for land (exclusive
of improvements thereon), nor on stocks, bonds, and securities.
Rent, repairs, and other expenses.—Enter on Line 16 rent on business property
* which you have no equity, ordinary repairs t o keep t h e propei ' *
" ' '*
ped by
heat, light, and
fire
.
expendiyou for residential purposes, the cost of business equipment or f urai
ersonal
tures for replacements or permanent improvements to property, nor personal,
living, or family expenses.
3. INTEREST ON BANK DEPOSITS, ETC.
Enter as Item 3 all interest received or credited t o your account during the
taxable year on bank deposits, notes, mortgages, and corporation bonds, except
interest on bonds upon which a tax was paid a t tho source. Interest on bonds
is considered income when due and payable.
4. INTEREST ON TAX-FREE COVENANT BONDS
is Item 4 bond interest upon which a tax was paid a t source. Such
ent
tax (2 percent of t h e interest entered in Item 4) may be claimed as a credit in
Item 32 of the retur
5 AND G. INCOME FROM PARTNERSHIPS, SYNDICATES, POOLS, ETC.,
AND FIDUCIARIES
Enter as Item 5 your share of t h e profits (whether received or not) (or of the
losses) of a partnership, syndicate, pool, etc., and as Item 6 income from an
estate or trust, except t h a t the share of (a) taxable interest on obligations of the
United States, etc., shall be included in Schedule D, and (6) profits which consisted of dividends on stock of domestic corporations which are subject t o
income tax shall be included in Item 10 (a) on the return. Include in Items 32
and 33, respectively, credits claimed for income tax paid a t source, and foreign
If t h e taxable year on t h e basis of which you file your return does not coincide
with the annual accounting period of the partnership or fiduciary, then you
should include in your return your distributive share of the net profits (or losses)
for such accounting period ending within your taxable year.
7. INCOME FROM RENTS AND ROYALTIES
Fill in Schedule B , giving t h e information requested.
If you received property or crop3 in lieu of cash rent, report t h e income as
though t h e rent had been received in cash. Crops received as rent on a cropshare basis should be reported as income for the year in which disposed of (unless
your return shows income accrued).
Enter as depreciation t h e amount of exhaustion, wear and tear, or depletion
sustained during t h e taxable year and explain in the table a t t h e foot of page 2.
Other expenses, such as interest, taxes, fire insurance, fuel, light, labor, and
other necessary expenses of this character should be itemized.
8. CAPITAL GAINS AND LOSSES
Report sales or exchanges of capital assets in Schedule C and enter the net
Item 8. (CAPITAL LOSSES* A R E " ALLOWABLE ONLY T O T H E E X T E N T O P $2,000 PLUS C A P I T A L GAINS.) Describe t h e property briefly,
and state t h e price received or t h e fair market value of t h e property received in
exchange. Expenses connected with the sale or exchange may be deducted in
computing the profit or loss.
If t h e property sold or exchanged was acquired prior t o March 1, 1913, t h e
basis for determining GAIN is the cost or t h e fair market value as of March 1,
1913, adjusted as provided in Section 113 (b) of the Revenue Act of 1934, which• ever is greater, b u t in determining LOSS t h e basis is cost so adjusted. (See
Section 113 of t h e Revenue Act of 1934.) If t h e amount shown as cost is other
t h e n actual cash cost of t h e property sold or exchanged, full details must be
furnished regarding t h e acquisition of the property.
2—IOSM
Enter as depreciation the amount of exhaustion, wear and tear, obsolescense,
or depletion which has been allowed (but not less than the amount allowable)
in respect of such property since date of acquisition, or since March 1, 1913, if
the property was acquired before that date. In addition, if the property was
acquired before March 1, 1913, the cost shall be reduced by the depreciation
actually sustained before that date.
Subsequent improvements include expenditures for additions, improvements,
and repairs made to restore the property or prolong its useful life. Do not
deduct ordinary repairs, interest, or taxes in computing gain or loss.
No loss shall be recognized in any sale or other disposition of shares of stock
or securities where you have acquired substantially identical stock or securities
within 30 days before or after the date of such sale or disposition, unless you are
engaged in the irade or business of buying and selling stocks and securities.
No deduction shall be allowed in respect of losses from sales or exchanges of
property, directly or indirectly, (A) between members of a family, or (B) except
in the ca;:e of distributions in liquidation, between an individual and a corporation in which euch individual owns, directly or indirectly, more than 50 per
centum in value of the outstanding stock. For the purpose of this paragraph—
(C) an individual shall be considered as owning the stock owned, directly or
indirectly, by his family; and (D) the family of an individual shall include only
his brothers and sisters (whether by the whole or half blood), spouse, ancestors,
siste
o
a
t
nd lin al des ndant
The
Th provisions of the Revenue Act of 1934 relating t o capital gains a'
ruU.—Xn the case of a taxpayer, other than a corporation, only the following
or loss recocnized upon the sale or exchange of a capital asset shall bo taken intS
ir bat not for more than 2 years;
t bes been held
(bp^niion ofnpuiVa]
ses of this title, "capital assets" means pr
is trade or business), but does not Include st
a r " " " p r o p e n y " h e l d by^the
t
'
l
^BEBvMf^ii
tho provisions of section
ichanped.
• has held property however acquired there shall
d by any other person, If under tbe provisions of
section 113, such property has^ for the purpose of deter ioing gain or ioss from a sale or exchange, thesamo
nds as it would hav in tho hands of such other person. k
l
(3) In determining t:
* ** which the taxpay • has held stoca or securities received upon a dis*
or
"
(2) I n d e t e r m i c i ^ t h ,
C J Inclucieu the period fo. •• ^.^^ ^u-— j--..-,-^.-.j •• ^
H
itract or option
.
quire which) resulted in the nondeductib
us to b u y or sell property
> tho purposes of this title, amounts roceived by the holder upon t
r
Dotes, or certificates or othn evidences of Indebtedness issued by a
Notwithstanding the provisi.
gain resulting to the distribute
tion shall be taken into account
of the Revenue Act of 1934.)
of Section 117 (a) above, 100 percent of the
om distributions in liquidation of a corporacomputing net income. (See Section 115 (c)
Section 117 applies only to gains and losses upon the sale or exchange of
capital assets and, therefore, his no application t» loss of useful v&lne upon
the permanent abandonment of the use of property or loss sustained as the
result of corporate stock or debts becoming worthless.
In the application of Section 117 a husband and wife, regardless of whether
a joint return or separate returns are made, are considered to be separate taxpayers. Accordingly, the limitation under Section 117 (d) on the allowance of
tosses of one spouse from sales or exchanges of capital assets is in all cases to'
be computed without regard to gains and losses of the other spouse upon sales
or exchanges of capita) assets.
9. INTEREST ON LIBERTY BONDS, ETC.
Schedule D should be filled in if you own any of the obligations or securities
enumerated in Column 1. Enter in Column 2 the principal amounts of thevarious obligations owned at the end of the year and enter in Column 3 all
interest received or credited to your account during the year on these obliga-.'
tions, including your share of such interest received from a partnership, or a n '
Interest on all coupons falling due within the taxable year will be considered
as income for t&e year, where the books are kept on a cash receipts P-nd disbursements basis. If the books are kept on an accrual basis, report the actual amount
of interest accrued on the obligations owned during the taxable year.
If the obligations enumerated on Line (e) are owned in excess of the exemption
n
amount,
,f
of $5,000, or any on Line (f) .. owned in any amount. Columns 5 and 6 should
anj
„ , are
reported on. Line (j) should be entered
be filled in, and the total of the ir
as Item 9 on page 1 of the return.
(See also Instruction 24, paragraph (d).)
10. DIVIDENDS
Enter as Item 10 (a) dividends from a domestic corporation 'which is subject
to taxation under Title I of the Revenue Act of 1934 (other than a corporation
entitled to the benefits of Section 251 of the Revenue Act of 1934 and other
than a corporation organized under the China Trade Act, 1922), including your
share of such dividends received on stock owned by a partnership, or an estate
or trust. Enter as Item 10 (6) dividends from a domestic corporation which ia
not subject to taxation under Title I of the Revenue Act of 1934 (such as a
building and loan association, etc.). Enter as Item 10 (c) dividends from a
foreign corporation and dividends from a corporation entitled to the benefits of
Section 251 of the Revenue Act of 1934 and a corporation organized under the
China Trade Act, 1922.
Enter i s Item 11 all (
the return.
Jch no space is provided on
^
T Q T A L
J N C O M E
Enter as Item 12 the net amount of Items 1 to 11, inclusive, after deducting
any expenses reported in Item 1, and losses in Items 2, 5, 7, and 8.
13. INTEREST PAID
Enter as Item 13 interest
business indebtedness (which should be deducted under Schedule A or B ) . D o
not include interest on indebtedness incurred or continued t o purchase or carry
obligations (ether than obligations of t h e United States issued after September
24, 19!7, and originally subscribed for by t h e taxpayer) t h e interest upon which
is wholly exempt from taxation.
U. TAXES PAID
Enter as I t e m 14 personal taxes and taxes paid on property n o t used in your
business or profession, n o t including those assessed against local benefits of a
kind tending t o increase t h e value of t h e property assessed. D o n o t include
Federal income taxes, nor estate, inheritance, legacy, succession, and gift taxes,
nor taxes imposed upon your interest as shareholder of a corporation which a r e
paid by t h e corporation without reimbursement from you, nor income taxes
claimed as a credit in Item 33. No deduction is allowable for any portion of
foreign income and profits taxes if a credit is claimed in Item 33.
Any deduction on account of taxes should be explained in Schedule F .
15. LOSSES BY FIRE, S T O R M , E T C .
Enter as Item 15 losses of property not connected with your business or profession, sustained during t h e year if arising from fire, storm, shipwreck, or other
casualty, or from theft, and if not compensated for by insurance or otherwise.
See Section 23 (e) of the Revenue Act of 1934.
Explain losses claimed in the table provided on page 2 of t h e return.
149
STATISTICS OF INCOME
16. BAD DEBTS
Enter as Item 16 all bad debts- other than those okimed as a deduction in
Schedule A. State in Schedule F, (a) of what the debts concisted, (6) when they
were created, (c) when they became due, (d) what effort* were made to collect,
and 0) bow they were actually determined to ba worthless.
17. CONTRIBUTIONS
Enter aa Item 17 contributions or gifts made within the taxable year to any
corporation, or trust, or community chest, fund; or foundation, organized and
operated exclusively for religious, charitable, scientific, literary, or educational
- ' - "-' - - - - - '-children or animals, no part of the
if any private shareholder or indi: f which is carrying on propa>
, - __„,
^r.lation. The amount claimed
shall not exceed 15 percent of your net income computed without the benefit of
this deduction. A fiduciary filing ths return for an esUte may claim, in lieu of
this deduction, that provided in Section 162 of the Revenue Act of 1934- List
organizations and amounts contributed to each in Schedule F.
18. OTHER DEDUCTIONS
Enter aa Item 18 any other authorized deductions for which no space is
provided on the return. Do not deduct losses incurred in transactions which
were neither connected with your tr*da or busineffl nor entered into for profit.
If the return is filed for an estate in process of administration, there should be
deducted tho amount of any incoma paid or credited to a beneficiary. Any
deduction claimed should be explained in Schedule F.
No deduction i3 allowable for the amount of any item or part thereof allocable
to a class of exempt income, other than interest. Itcm3 directly attributable to
such exempt income shaU be allocated thereio. and items directly attributable
to any class of taxable income shall be allocated to such taxable income. A
taxpayer receiving any exempt income, other than interest, or holding any
property or engaging in any activity the income from which ia exempt shall
submit with his return as a part thereof an itemized statement, ia detail, showing
(1) the nmount of each class of exempt income, and (2) the amount of items
allocated to each such class (th« amount allocated by apportionment being
shown separately).
IS. TOTAL DEDUCTIONS IN ITEMS 13 TO 18
Enter as Item 19 the total of Items 13 to IS, inclusive. This amount should
not include any deduction claimed in Schedule A or B.
20. NET INCOfttE
Income of (a) estates of decedents before final settlement, (&) trusts, whether
created by will or deed, for unascertained persons or persons with contingent
interests; or income held under the terms of the will or trust for future distribution, is taxed to the fiduciary as a single person, except that from the income of
a deec-dent's estate there should be deducted any amount properly paid or
credited to a beneficiary.
22. EARNED INCOME CKEDIT, PERSONAL EXEMPTION, AND CREDIT
FOR DEPENDENTS
i© normal tax, but not for the surtax, there may be claimed a crodit &ffa!nst net
„.
^ _ r salaries, professional fooa, and other Raouut^
or that part ol the compensation derived by the taij«yer for personal services
™^,
,
" " °
Dtl
„ ....
° . - e a r n ° 5 S °-r ^
••
rat 1W
-
.
JU SWTICOS actually rendered
r
by thetai-ri
by Section 23 ofche Revenue Act of 193* for tho purpose of computing net income, r.ndftraproperly allocable to or chBn;9able against earned Income. " Earned net Incoma mean? tha excess of the amount of
the earned income over the sura of thd earned income deductions. If the taxpayer's net income ia not
,
may be taken by either or dlvidod between tham.
A
head of a family
idlSh^f
.
.
,__
.
.
__„,
r..__
is an individual wao actually supports and nmiotains in ono household ono or
In addition to tho personal exemption, a credit of $400 may be claimed for each person (othor than
husband or wife) under 18 years of ags, or inc&pabte of self-support because mentally or physically
ship batwoen taxpayer and dependent, and thereasonfor support if ttia depended ia not under 18 years
of a«e.
If ths status of the taxpayer, insofar as it affects the personal exemption or cradi t for dependents, chacgod
during the taxable year, the personal exemption and credit shall bo apportioned in accordance with the
Dumber of months before and after such change. For the purpese of such apportionment a fractional
Whero a return hfiledon this form for an estate in process of administration, ortora trust, an exemption
23. COMPUTATION OF TAX
Surtax.—The surtax on any amount of surtax net income not shown in the
table below ia computed by adding to the surtax for the largest amount shown
the rate indicated in the table.
A
B
o
A
T
c
36
45
780
8 &» to 20 000
A) 06j to "2 1X0
510 000 to
300009to
300 00T
«0C0n
1 000,000 up -
1
2S.00I
2S oa
interest Day-
Mn?o'^e^^RaU) d premfum3'cr a coSlder r 8tkin paidfarsuch annuity (whether or not paid during
such y « / ) , until the aggregate amount excludedfromgross ^income equals thsfijsresatepremiums or
ams^t%^^M'aroi^iere.t^a'lac\wyliMt^n^9d)
and°morieyPM<fproperty acquired by
«t' doirisa, or inharitrace (but tho income derived from such propsrty Is taxable and must be
District of Columbia, or United Stiitaa possessions, or
Stated SavinM Bonds and Treasury t>ond^ owned in excess of $5,090, an
i of tho'United Gtatas (otber than obligations '
>•—•-"-•>—
^interest should be
U
If'the net income of a decedent to the date of his death was $1,000 or over,
if unmarried, or in excels of the credit allowed him by Section 25 (b) (1) and (3)
of the Revenue Act of 1934 (computed without regard to his status aa the head
of s family), jf raf,rricd and living with epeuse, or if his gross.income for the
period WHS $3,000 or over, the executor or administrator shall make a return for
the
ason ? m ! e death of t e In s
T l d ' f h t h e r or not p
"(£' Anouuts raoefvwiYhrowli ace'
is corapensatior.fcrporxraal injuries
21. PERSONS REQUIRED TO MAKE A RETURN OF INCOME
in
An income tax return must be filed by every citizen of the TTnited States
ht;ther residing at home or abroad, and every person residing in the United
crates though not a citizen thereof, whose e,Tcsa income for tho taxable year
amounted to $5,000, or whose net income amounted to—
(a) $1,000 if Eing!o or if married and not living with husband or wife;
(bS $2,500 if married and living with husband or wife; or
(c) More than the personal exemption if status of taxpayer changed.
If an individual is single and the net income, including that of dependent
minors, if any, is SI ,000 or over, or if the gross income is 85,000 or over, a return
must be filed. If the combined net income of husband and wife,- and dependent
minor children, if any,_ is $2,500 or over, or if their_combined gross income is
S5fCX)0 or over, s,ll such income must t)c reported on & "*oinfc return, or on scpttrst-c
returns of husband and wife. In case the husband *.nd wife elect, to file separate
returns and theb combined net income is $5,(XX) cr over, each shall make a
mpinafttop for theftj?reouai
ts pai'dly
r0
m It
r in
b
"books, unless such method does not clearly reflecl
included in great income,
nn er,.,_ jy.. m to t w
Income from a partnership or fiduciary hsrin* a different taxable year.—U
the taxable year of a beneficiary is different from t h a t of t h e estate or trust,
the part of the estate or trust income to be included in computing his net income
shall be baaed upon the net incomeof the estate or trust for any taxable year of
the e3tate or trust ending within his taxable year.
If the taxable year of a partner ia different from t h a t of t h e partnership, the
distributive share of the net income of the partnership t o ba included in computing the net, income of the partner for his taxable year shall be based upon t h e
net income of the partrershlp for any taxable year of t h e partnership ending
within the taxable year of the partner.
Income ttx paid to a foreign country or U. S. possession.—If, Ia accordance
with Section 131 (a) of the Revenue Act of 1934, a credit is claimed in Item 33
for income tax paid to a foreign country or a possession of the United States,
submit Form 1113 with your return with the receipts for such payments. In
case credit is sought for taxes accrued, t h e form must have attached t o i t a
certified copy of the return on which the tax was based, and t h e Commissioner
may require a bond on Form 1117 for the payment of any tax found due if
tho tax when paid differs from the credit claimed.
24. ITEMS EXEMPT FROM TAX
The following items are exempt from Federal income tax, except where
otherwise indicated, and should not be included in gross income:
Aironntsraeo!vod under a life Insurant* contract raid byreasonof the death of the labored, whether
U
a
(J)°Th9 ren t™-s'ElSe <jra dwelling t
lil-ance or under vcrortanen's compensatloD acts,
3e amount ot a n j damaees rooelved, whether by
fices thereof furnished to a minister of the goepel
icn thereof to its officers or employees for services
by tha Un:'"ed S'ites or any agency thereof) by aa individual ciUien of the United Stated who is a bona
fide noni-oa'ident for more liisn e moi'ths during iLe t&iable year. Tbe tftipayer in such a case may not
deduct from his gross inooms any amount piopoiiy allocable to or cbargeablo against the amount 30
25. ACCRUED OR RECEIVED INCOME
If your books of account are kept on the accrual basis, report all income
accrued, even though it has not been actually received or entered oa the books,
and expenses incurred instead of expenses paid. If your books are not kept on
the accrual basis, report all income received or constructively received, such as
bank interest credited to your account, and expenses paid. The return for a
decedent rhall include all iterua of inoomo and deductions accrued up to the date
of death regardless of the fact that the decedent may have kept hi3 books on
26. PERIOD TO BE COVERED BY BETCKN
The return must be filed on this form for the calendar year 1935 or for a fiscal
year begue in 1935 and ended ia 1936.
The accounting period established must be adhered to for subsequsnt years,
unless permission ia received from tho Commissioner to make a change. An
application for a change in tha accounting period shall be made on Form 1128
and forwarded to the collector prior to the expiration of 30 days from the close
of the proposed taxable year.
27. AFFIDAVITS
Taxpayer or agent—The affidavit must be executed by the person whose
income is reported or bv hia legal representative or agent. The return maybe
made bv an agent (1) if, by reason of illness, the person liable for the making
of tha return is unable to make it, or (2) if the taxpayor is unable to make the
return by reason of continuous absence from the United States for a period of at
least 00 days prior to tho date prescribed by Jaw for making tha return. Whenever
a return is made by an agent it must bo accompanied by a power of attorney
on Form 935, or, in the cane of husband and wife, on Form 936 (copies of
which may be obtained from tha collector of internal revenue).
Joint retmiu—The joint return of husband and wife must be signed by both
spouse3 and sworn to by the spouse preparing—filling in—the return. IfK theh
return ia prepared by both spouses, or is prepared by neither spouse *"»<•" " *
tha other
epouso linder a power of attoi - _^
--s i l t e d o
er.—Questi
Where return is prepared b7 someone other than taapay— .»
page 1 of the return should ba answered fully, and where the return ia actually
prepared by eome person or persona, other than tha taxpayer, such person or
nsrsonfi must execute the affidavit at tha foot of page 1 of the return.
iU be administered w
Th
eed without charge by any collector, deputy collecg
ent.
tor, o internal revenue agent. If a
rnal r
bf
return should be sworn to before a notary public, justice of the peace, or other
t
b
person authorised to administer oaths, except an attorney or agent employed to
represent the taxpayer before the Department in connection with his tax liability. .
28. WHEN AND WHERE THE RETURN MUST BE FILED
The return must be sent to the collector of internal revenue for the district in •
which you live or have your principal place of business, so as to reach the col- •
lector's ofSca on or before tho fifteenth day of the third month following the
close of your taxable year. In case vou have no legal residence or place of
business in the United States, the return should be forwarded to the Collector
of Internal Revenue, Baltimore, Maryland.
20. WHEN AND TO WHOM THE TAX MUST BE PAID
The tax should be paid, if possible, by sending or bringing with the return a
check or money order drawn to the order of "Collector of Internal Revenue at
(insert city and State)." Do not send cash by mail, nor pay it in person except
at the Collector's office.
The tax may be paid when the return is filed, or in four equal installments,
as follows: Ths first installment shall be paid on or before the fifteenth day of
the third month following the close of the taxable year, the second installment,
shall be paid on or before the fifteenth day of the third month, the third installment on or before the fifteenth day of the sixth month, and the fourth installment
on or before the fifteenth day of the ninth month after the latest date prescribed
for paying the first installment.
If any installment is not paid on tho date fixed for payment, the whole amount .
of tax unpaid shall be paid upon notice and demand by the collector.
30. PENALTIES
For willful failtire to make and file a return on time.—Not more than $10,000
or imprisonment for not more than 1 year, or both, together with the costs of
prosecution, and, in addition, 5 percent to 25 percent of the amount of the tax.
For wiUfully making a false or fraudulent return.—Not more than $10,000 or
imprisonment for not more than 5 years, or both, together with the costs of.
For deficiency in tax.—5 percent of the amount of the deficiency if due to
negligence or intentional disregard of rules and regulations without intent to
defraud, or 50 percent of amount of the deficiency if due to fraud.
31. INFORMATION AT SOURCE
Every person making payments of salaries, wages, interest, rents, commissions,
or other fixed or determinable income of $ 1,000 or more during the calendar year,
to a single person, a partnership, or a fiduciary, or $2 500 or more to a married
person, is required to make a return on Forms 1096 and 1099 showing the amount
of such payments and the name and address of each recipient. These forms will
be furnished by any collector of internal revenue upon request. Such returns
covering the calendar year 1935 must be forwarded to the Commissioner of
Internal Revenue, Sorting Section, Washington, D. C , in time to be received
not later than February 15, 1936. .
i-ieon *
150
STATISTICS OF INCOME
RETURN FORM MARKED "DUPLICATE" MUST BE FILED WITH THIS ORIGINAL RETURN
F o r m 1040A
TREASURY DEPARTMENT
INDIVIDUAL INCOME TAX RETURN
OUdltor'. .ump)
FOR NET INCOMES OF NOT MORE THAN $5,000
Do not write in this space
SSL
ft*
DERIVED CHIEFLY FROM SALARIES AND WAGES
For Calendar Year 1935
To be filed with t h . Collator of Internal Rrnnua for your dUtrict on or bo for. March 15,1938
(Cashier's .tamp)
PRINT NAME AND ADDRESS PLAINLY BELOW
(N«w)
(Both "hu»b»nd end wife, it thL"
U • joint return)
Otraet and number, or rural route)
(Post offioe)
(County)
(State)
Cadi Check M.O.
OCCUPATION
1. Are you a citizen or resident
of the United States?
2. Were you married and living with husband or wife during your taxable year?
5. How many dependents (except husband or wife) received
their chief support from you during your taxable y e a r ? . . .
8. State date and nature of any change
under questions 2, 4, or 5 during the year
3. Was a separate return filed by
husband or wife?
4. If not married, were you the head of a
family during your taxable year?
'N£
INCOME
1. Salaries, wages, commissions, fees, etc. (Statefromwhom received)
$ .
2. Interest on bank deposits, notes, mortgages, and corporation bonds
3. Interest on bonds upon which a tax of 2% was paid at 6ourcc
4. Other income (including income fromfiduciaries,partnerships, etc.) (State source):
5.
TOTAL INCOME IN ITEMS 1 TO 4
-
$
DEDUCTIONS
6 Taxes paid
$
(State nature and amounts)
7 Contributions
(Furnish names of organizations and amounts contributed to each)
8. Other deductions authorized by law. (Furnish details)
9.
TOTAL DEDUCTIONS I N ITEMS 6 TO 8
COMPUTATION OF TAX
10. Net income for normal tax purposes (item 5 minus item 0)
11.
S
Less: Earned income credit
12
Personal exemption
1 3 .
C r e d i t for d e p e n d e n t s .
$
(Explain on reverse side)
.
.
.
.
.
.
$
14. Balance taxable at 4% (item 10 minus items 11, 12, and 13)
15. Total income tax (4% of item 14)
$
16. Less: Income tax paid at source on tax-free covenant bonds (2% of item 3)
17.
$
Income tax paid to a foreign country or United Statea possession. (Attach Form me)
18. BALANCE or TAX
(item 15 minus items 16 and 17)
$.....
AFFIDAVIT
I/we swear (or affirm) that this return has been examined by me/us, and, to the best of my/our knowledge and belief, is
a truo and complete return for the taxable year S3 8tated, pursuant to the Revenue Act of 1934 and regulations issued under
authority thereof.
Sworn to and subscribed by
beforo me this
fioe Instructions.
day of
(Signature and title of officer administering oath)
, 1936.
(Signature)
(See Instructions)
151
STATISTICS OF INCOME
EXPLANATION O F CREDIT F O R DEPENDENTS CLAIMED IN ITEM 13
1. NAME OF DEPENDENT
INTEREST ON GOVERNMENT
OBLIGATIONS.
ETC.
AMOUNT OWNED
AT END OF YEAR
DBMNO'TUEYE.VB
(a) Obligations of a State, Territory, or politicnl subdivision thereof, or the District of
Columbia, or possessions of the United States
(b) Obligations of instrumentalities of the United States (such as obligations issued under
Federal Farm Loan Act, as amended, Home Owners' Loan Act, etc.) .
(c) Obligations of the United States .
$
$
.
DIVIDENDS FROM DOMESTIC CORPORATIONS
State the amount of dividends received from domestic corporations which are subject to income tax under
the Revenue Act of 1934, including your share of such dividends on stock owned by a partnership, syndicate, pool, joint venture, etc., or an estate or trust
$..
INSTRUCTIONS
LIABILITY FOR H U N G RETURN
An income tax Return ust be filed by
ery citizen of the United States
whether residing at homi ir abroad, and (
•y person residing in the United
g
States, though not a citizi thereof, having a gross income for the calendar year
the same period of (a) $1,000 or over,
1935 of $5,000, or over, or
_ husband or wifo, or (6) $2,500 or over,
if single, or if married and not living
ife, or (c) more than the personal exempirried and living with husband
tion if the status of tho taxpayer changes during the taxable year. If the ©
bined net income of husband and wife, including that of dependent miuur
children, if any, is $2,500 or over, or if their combined gross income is $5,000 or
over, either each must make a return, or the income of each must be included
in a single joint return.
ITEMS EXEMPT FROM TAX
(a) Amounts received under a life insurance contract paid by reason of tha
death of the insured.
(6) Amounts received (other than by reason of the death of the insured) uuder
. life insurance or endowment contract, not to exceed the premiums or considera&
tion paid for such contract. Amounts received as an annuity under an annuity
or endowment contract shall be included in gross income; except that there shall
be excluded frois gross income the excess of tho amount received in the taxable
year ovor an amount equal to 3 percent of the aggregate premiums or consideration paid for such annuity (whether or not paid during such year), until tho
aggregate amount excluded from gross income equals the aggregate premiums
or consideration paid for such annuity.
(c) Gifts (not made as a consideration for services) and property acquired by
bequest, devise, or inheritance (but the income from such properly is taxable
and must be reported).
(d) Interest upon (1) obligations of a State, Territory, or a political subdivision
thereof, or the District of Columbia, or possessions of the United States; (2) obligations of I
States
e
% and 4)4
United Sta
-j of $5,000, and o
„
bonds, and Treasury bonds, owned i ,
instrumentalities of the United Stat ! (except obligations issued under tho
Federal Farm Loan A< t, as amended) i subject to surtax if the surtax net income
(e) Amounts received as accident or health insurance for personal injuries or
sickness, plus damages received on acco int of such injuries or sickness.
(J) Rental value o a dwelling hous and appurtenances thereof furnished a
ental
of
g
minister of the gospel as p
part of his co
f his
(?) Compensation paid by S
or employees for services rend
(ft) Compensation received for services rendered without the United Slates
(except amounts paid by the United States or any agency thereof) by a citizen
who is a nonresident for more than six months during the taxable year.
INCOME
Salaries.—Enter as item 1 all salaries, wages, or other compensation received
from outside sources by (a) yourself, (6) your husband or wife if a joint return
is filed, and (r) each dependent minor child.
Interest.—Knter as item 2 interest received on bank deposits, notes, mortgages,
and corporation bonds, except that interest recoived on bonds upon which a
tax was paid at source by the debtor corporation should be entered as item 3.
The tax of 2 percent paid at source on such interef t should be claimed as a credit
in item 16. Interest on bonds is considered income when due and payablo.
Other income.—Enter as item 4 all other taxable income, including dividends
en stock of domestic corporations not subject to income tax under the Revenue
Act of li)34 (such as building and loan associations, etc.), and dividanda on stock
of foreign corporations, income of an estate or trust, and your share (whether
received or not) in tbe profits of a partnership, syndicate, pool, Joint venture etc.
DEDUCTIONS
Tues.—Kntcr os item C all personal taxes and taxes on property paid durinu
the year Do not include Federal income taxes, nor estate, inheritance, logacy,
succession and gift luxes No part of foreign Income and profits taxes is allowable as a deductiou if a credit is claimed in item 17 of the return.
Contributions.— Enter as item 7 any contributions or gifts made during the
year to any corporation or fund organized and operated exclusively for religious,
charitable, or educational purposes, uo part of the net earnings of which inures
to the benefit of any private shareholder or individual, and no substantial part
ol tho activities of which is carrying on propaganda, or otherwise attempting,
to influence legislation. The amount claimed -shall not exceed 15 percent of tho
net income computed without tho benefit of tbb deduetlon.
Furnish names o( organizations and amounts oontributed to each.
Other deductions.—Enter ?s item 8 any other deductions authorized by law,
including interest paid on personal indebtedness.
No deduction is allowable for the amount of any item or part thereof allocable
to a class of exempt income, other than interest. Items directly attributable to
such exompt income shall be allocated thereto, and items directly attributable
to any class of taxable income shall bo allocated to such taxable income.
A taxpayer receiving any exempt income, other than interest, or holding any
property or engaging in any activity the income from which is exempt shall
submit with his return as a part thereof an itemized statement, in detail, showing
(1) the amount of each class of exempt income, and (2) the amount of items
allocated to each such class (the amount allocated by apportionment being
shown separately).
EARNED INCOME CREDIT. PERSONAL EXEMPTION, ETC.
In computing tha normal tax, but not the surtax, there may be claimed a credit
against net income of 10 percent of the amount of the earned net income, but
not in excess of 10 percent of the amount of the entire net income. If the net
income is not more than $3,000, the entire net income shall be considered to bo
earned net income, and if the net income is more than $3,000, the earned net
income shall not be considered to be less than $3,000.
A single person, or a married person not living with husband or wife, mny
claim a personal exemption of $1,000. A person who, during the entire taxable
yea/, was the head of a family or was married and living with husband or wife,
may claim an exemption of $2,500. If husband and wife file separate returns,
the personal exemption may be taken by either or divided between them.
A "head of a family" is an individual who actually supports and maintains
In one household one or more individuals who are closely cocnected with him
by blood relationship, relationship by marriage, or by adoption, ond whose r'ight
to exercise family control und provide for these dependent individuals is based
1 n addition to the personal exemption, a credit of $400 may bo claimod for each
r-Tson (other than husband or wife) under eighteen years of age, or incapable of
self-support because mentally or physically defective, who received his or her
chief support from the taxpayer. This credit can be claimed only by the person
wlio furnishes the chief support, and cannot be divided between two individuals.
If the status of the taxpayer, insofar as it aftVcts the personal exemption or
credit for dependents, changes during the taxable year, the personal exemption
and credit shall be apportioned in accordance with the number of months before
ond after such change. For the purpose of such apportionment a fractional part
of a month shall be disregarded unless it amounts to more than half a month
in which case it phftH be considered as a month.
GENERAL INFORMATION
Affldavit.-The onth will be administered without charge by any collector,
deputy collector, or internal revenue agent. If an internal revenue officer is not
available, the return should be sworn to before a person authorized to administer oaths, except an attorney or agont employed to represent the taxpayer
before the Department in connection with his tax.
The affidavit must be executed by the person whose income Is reported or by
his legal representative or agent. The return may be made by an agent (1) if,
by reason of illness, the person liable for tho making of the return is unable to
make it, or (2) If the taxpayer is unable to make tho return by reason of continuous absence from the United States for a period of at least 60 days prior to the
date prescribed by law for making the return. Whenever a return is made by
an agent it must be accompanied by a power of attorney on Form 635, or, in the
case of husband and wife, on Form 036 (copies of which may be obtained from the
collector of internal revenue).
The Joint return of husband and wife mnat be signed by both spooses and
•worn to by the spouse preparing—filling In—the return. If the return is prepared by both spouses, or is prepared by neither spouse, then both spouse*
must swear to the return, except where one spouse acts for the other spousa
under a power of attorney submitted on Form 936.
Tax.—The tax may be paid at time of filing the return, or In four equal Installments payable quarterly provided each installment is paid on or before its
respective due date.
PENALTIES
For willful fallow, to make and file a return on tlme.-Not more than $10,000
or Imprisonment for not more than one year, or both, together with the costs of
prosocutlon, and, in addition. 5 to 25 percent of tho amount of the tax.
For willfully making a false or fraudulent return.—Not more than $10,000
or imprisonment for not more than five years,or both, together with the costs of
prosecution.
152
STATISTICS OF INCOME
RETURN FORM MARKED "DUPLICATE" MUST BE FILED WITH THIS ORIGINAL RETURN
PARTNERSHIP RETURN OF INCOME
TREASUK<YIDE1PARTME|NT
(Auditor's Stamp)
(TO BE FILED ALSO BY SYNDICATES, POOLS, JOINT VENTURES, ETC.)
For Calendar Year 193S
Or Fiscal Year begun
, 1935, and ended
Do Not Write In These Spaces
File
Code
,-1936
File This Return Not Later Than the Fifteenth Day of the Third Month Fallowing the Close of the Taxable Year
Serial
Number
PRINT PLAINLY NAME AND BUSINESS ADDRESS OF THE ORGANIZATION
District
(Name)
.—(Date Received)
(Street and number)
(Post office and State)
Business or Profession
_
Nature of Organization
give the name and address or such person or persons an
actually prepare this return for t
ectDofWwhich the as
the organization and the items c
GROSS INCOME
Imtruction No.
1. Groes Receipts from Business
r Profession
_
(V) Merchandise bought for sale . . . . ,
(c) Cost Of labor, supplies, etc. (From Schedule A)
(d) Total of lines (a), (b), and (e)
(e) Less inventory at end of year
_
3. Gross Profit from Business or Profession (Item l minus Item 2)
4. Income (or loss) from Other Partnerships, Syndicates, Pools, etc. (State separatel]
6. Interest on Bank Deposits, Notes, Corporation Bonds, etc. (except interest on tax-free covenant bonds).
6. Interest on Tax-free Covenant Bonds upon which a Tax was Paid at Source
8. Royalties
©. Capital Gain (or loss).
(FromSc
Bt of 1 9 3 4 —
e Act of 1934-
(6) Domestic Corporations not subject to taxation u
(e) Foreign Corporations
11. Other Income (state nature of Income):
(o) ..
12.
L IN
S 3 TO 11
DEDUCTIONS
13. Salaries of Employees.
(Do not Include compensation for partners or me
14. Rent on Business Property
15. Repairs.
_
(From Schedule C)
_
16. Interest on Indebtedness
17. Taxes paid.
_
(From Schedule B)
18. Looses by Fire, Storm, etc. (From Schedule E)
_
19. Bad debts (from Schedule F); also bonds determined t o be worthless during taxable year.
20. Charitable Contributions.
(Explain In soparate schedule)
.
_
21. Depreciation (resulting from exhaustion, wear and tear, or obsolescence).
(From Schedule 0)
22. Other Deductions Authorized by Law (including stock determined to be worthless during taxable year)
(explain 1
TOTAL
UCTIONS IN ITEMS 13 TO 22 ..
N E T IN
E (Item 12 minus Item 23)...
(Designate nonresident aliens, if any)
«bl«.—Where return of partner or member is filed in another collection district,
c
8. INCOME T A X
?ici?if
Pos?«asioAN3 *
$
(0)
$
(6)
- -
(c)
(«)
„
.....
(/)
(?)
TOTALS
s
*
i 1$
!$
$
153
STATISTICS OF INCOME
SCHEDULE A—COST OF LABOR, SUPPLIES, ETC.
(See Instruction 2)
j
Labor
_
Supplies
_
I,EMS
AMOUNT
S
$
_--
ii
.
l ToTAL (enter as Item 2 (c))
S
I. DESCRIPTION or PBOP-
£3*2, •sssL
,.„.
(See Ir structic nO)
SCHEDULE B—CAPITAL GAINS AND LOSSES (FROM SALES OR EXCHANGES ONLY)
ass
8. GAS; oa Loss
TUAT D A T E ;
(Inii™19?3
R
(Fur-
B
INT(?AC-
nlsb details)
a. <U«s
b. LOSSES
Mo. BOD Year M U . / * „ V7«.r
• (a) I year or less;
100
$
$
S
• (b) Over 1 year but not
80
• (o) Over 2 years but not
60
40
• (e) Over 10 years:
30'
of $ 2,000 plus ca pital gains).
s
•Inrejjortinc sales or exchangesof capital assetBattaeh^sepnreto schedule^ii necessa
- any, of purchaser t o partnership or any member thereof
relationship,
-o....; (2) Personal
_
of shares, capital changos affecting basis (stock dividends, other c o n t a i a b l s dividends.
Every sain or sxchanM of stock rnouM bo reportod in detail, inciudiag namo and addrosa of cor
stockrights,e t c i
SCH :DULE C—COST OF REPAIRS
I
(See In struction IS)
cd
». ITEH3
SCHEDULE I)—TAXES PAID
(See Instruction 17)
1
1/ITM.
15) fi
(ErSer^UcmlT)
|!
•f
t
|
SCHEDULE E—EXPLANATION OF DEDUCTION FOR LOSSES HY FIRE, STORM, ETC.
1 » « 1 « « -
1
I,
i
(See Instruction 18)
7. DEDUCTIBLE LOSS
3.COS*
(Enter as Item 18)
.. i
" 1
L ..-
J
$
i 1
State how property was acquired ..
SCHEDULE F—EXPLANATION OF DEDUCTION FOB BAD DEBTS
YEAS
(See Inetructic n 19)
NETIKCOME
CHAEOEDO* ACCOST
BADDE.T.
1932 $
(a)
'
$
1933
1934
SCHEDULE G—EXPLANATION OF DEDUCTION FOR DEPRECIATION
3. COST on MABCH 1,
' ( « buildinKE, state
material of which
hSSL
~™ «?«,«=»
T.LrjTETJsiDD
9. D E F R I C U T I O N
AlXOWABLE THIS YEAn
DEOmNINO
$
$
I
!
(See Instruction 21)
«. R E M U N T N O C O S T
OBOTHIBBASIOIO
i. ASSETS FTJILT D I ? E E -
DATI? D (Ind?cate>bIiste)
—
1
W)
s
$
|
SCHEDULE H—NQNTAXABLE OBLIGATIONS. LIBERTY BONDS, ETC.
(See Instruction 26)
$
(a) Obligations of a State, Territory, or any poUtical subdivision thereof, or the District of Columbia, or U. S. possessions.
{ ) Obligations issusd under the provisions of the Federal Farm Loan Act, or under such act as amended
&
(c) Liberty 3J^% Bonds and other obligations of United States issued oa or before September 1, 1917
......
_
[d) Treasury notes, Treasury bills, and Treasury certificates of indebtedness
(8) Liberty. 4% «nd 4,%% Bonds, TJ. S. Savings Bonds, and Treasury Bonds_
^—
if) Obligations of instrumentalities of the United States (other than obligations to bo reported in (6) above)
SCHEDULE I—INCOME FROM DIVIDENDS
Itemizo all dividends received during the year, B1
jnta and names and addresses of corporations declaring the dividends:
AFFIDAVIT
(See Instruction 30)
I swear (or affirm) that this return (including its accompanying schedules and statements, if any) has been examined by me, and, to the best of my knowledgo
and belief, is a true, correct, and complete return, made in good faith, for the accounting period eiated, pursuant to the Revenue Act of 1934 and the Regulations
issued thereunder.
Sworn to and subscribed before me this
day of
, 193
(Title
AFFIDAVIT
(See Instruction 30) -
I/we swear (or affirm) that I/we prepared this return for the organization named herein and that the return (including its accompanying schedules and
statements, if any) is a true, correct, and complete statement of all the information respecting the income tax liability of the person for whom this return has
been prepared of which I/we have any knowledge.
(Signature oJ person preparing tb
Sworn to and subscribed before me this
"(Slgnaturo ofofficer administering oath)
day of...
t
193
154
STATISTICS OF INCOME
INSTRUCTIONS
The Instructions Numbered 1 to 25 Correspond with the Item Numbers on the First Page of the Return
1. GROSS RECEIPTS
Describe the busim >r profession in the space provided at the top of page
• 1, and enter as item. 1 on page 1 of the return the gross receipts from sales or
services, less any discounts or allowances from the sale price or service charge.
Farmer's income schedule.—If the organization operates a farm and keeps
no books of account, or keeps books on a cash basis, obtain from the collector
and attach to this return Form 1040F, Schedule of Farm Income and Expenses, and enter the net farm income as item 3 on page 1 of this return. If
the farm books of account are kept on an accrual basis, the filing of Form
1040F is optional.
Installment sales.—If the installment method is used, attach to the return
a schedule showing separately for the taxable years 1933,1934,1935, and 1936
the following information: (a) Gross sales; (b) cost of goods sold; (c) gross
profits; (d) percentage of profits to gross sales; (e) amount collected; and (/)
gross profit on amount collected. See section 44 of the Revenue Act of 1936.
2. COST OF GOODS SOLD
Enter as item 2 the information requested in lines (a) to (e), and list in
Schedule A on page 2 of the return the principal items of cost included in the
amount entered on line (c), the minor items to be grouped in one amount.
Inventories.—If the production, purchase, or sale of merchandise is an
income-producing factor in the trade or business, inventories of merchandise
n hand should be taken at the beginning and end of the taxable year. Enter
Subsequent improvements include expenditures for additions, improvements, and repairs made to restore the property or prolong its useful life. Do
not deduct ordinary repairs, interest, or taxes in computing gain or loss.
No loss shall be recognized in any sale or other disposition of shares of
stock or securities where the organization has acquired substantially identical
stock or securities within 30 days before or after the date of such sale or disposition, unless the organization is engaged in the trade or business of buying
and selling stocks and securities.
No deduction shall be allowed in respect of losses from sales or exchanges
of property, directly or indirectly, (A) between members of a family, or
(B) except in the case of distributions in liquidation, between an individual
and a corporation in which such individual owns, directly or indirectly, more
than 50 percent in value of the outstanding stock. For the purpose of this
paragraph—(C) an individual shall be considered as owning the stock owned,
directly or indirectly, by his family; and (D) the family of an individual shall
include only his brothers and sisters (whether by the whole or half blood),
spouse, ancestors, and lineal descendants.
The provisions of the Revenue Act of 1936 relating to capital gains and
"C",
valued at cost, or cost o
arket, whichever is l
3. GROSS PROFIT
Enter as item 3 the gross profit derived from the business or profe on
•which is obtained by deducting item 2, the cost of goods sold as extended,
from item 1, the gross receipts.
4. INCOME (OR LOSS) FROM ANOTHER PARTNERSHIP, ETC.
Enter as item 4 the share of the profits (whether received or not) (or of the
losses) of another partnership, syndicate, pool, joint venture, etc., except th;
the share of interest on obligations of the United States, etc., shall be reported
in Schedule H, page 2 of the return..
If the accounting period on the basis of which this return is filed does not
coincide "with the annual accounting period of another partnership, syndi
pool, etc., from which income is received, there should be included in thi re
turn the distributive share of the net profits (or losses) for the accounting
period of such partnership, syndicate, pool, etc., ending within the accounting
period for which this return is filed.
5. INTEREST ON BANK DEPOSITS, ETC.
Enter as item 5 all interest received or credited to the account of the organ
ization during the taxable year on bank deposits, notes, mortgages, and c r
poration bonds, except interest on bonds upon which a tax wa p id t tl
source. Interest on bonds is considered income when due and pa
ble
6. INTEREST ON TAX-FREE COVENANT BONDS
Enter as item 6 interest on bonds upon which
sp a
paid
by the debtor corporation, if an ownership certificate on F
Form 10 was filed
1000
•with the interest coupons. The tax of 2 percent paid at the source on such
interest should be allocated to the partners or members in column oi tern
25, page 1 of the return.
7. RENTS
Enter sis item 7 tnc ^jross unmount TGCGIVGQ for tno rent of property* Any
deductions claimed for repairs," interest, -taxes, and depreciation should be
included in items 15, 16, 17, and 21, respectively.
If property or crops were received in lieu of cash rent, report the income as
though the rent had been received in cash. Crops received as rent on a cropshare basis should be reported as income for the year in which disposed of,
unless this return shows income accrued.
8. ROYALTIES
Enter as item 8 the gross amount received as royalties. . If a deduction is
claimed on account of depletion, it should be included in item 22. See sections
23 (m) and 114 of the Revenue Act of 1936.
N w h t nding he p o o s of c on 117 (a) a o e 100 pe ent of
the g n re
ng to e
b
f m di tr b t on
1
on f o
pora on h 1 be taken n o ceo nt n comp
y t n o e e e
n he
case of amounts disti b ted in co p e e 1 q d on of a c rjo t
( ec
section 115 (c) of the Revenue Act of 1936.)
SECTION 117 APPLIES ONLY TO GAINS AND LOSSES UPON THE
SALE OR EXCHANGE OF CAPITAL ASSETS AND, THEREFORE, HAS
NO APPLICATION TO LOSS OF USEFUL VALUE UPON THE PERMANENT ABANDONMENT OF THE USE OF PROPERTY OR LOSS
SUSTAINED AS THE RESULT OF CORPORATE STOCK OR DEBTS
BECOMING WORTHLESS.
10. DIVIDENDS
Enter as item 10 the total of all dividends reported in Schedule I.
11. OTHER INCOME
9. CAPITAL GAINS AND LOSSES
Enter as item 11 all other taxable income for which no space is provided
Report sales or exchanges of capital assets in Schedule B and enter the net elsewhere on page 1 of the return.
amount of gain or loss to be taken into account in computing net income as
12. TOTAL INCOME
item 9. (CAPITAL LOSSES ARE ALLOWABLE ONLY TO THE EXTENT
OF $2,000 PLUS CAPITAL GAINS. THEREFORE, IF THE TOTAL
Enter as item 12 the net amount of items 3 to 11, inclusive, after deducting
AMOUNT OF CAPITAL LOSSES IS IN EXCESS OF THE TOTAL any los
reported in item 3, 4, a
AMOUNT OF CAPITAL GAINS, THE AMOUNT TO BE ENTERED AS
13. SALARIES
ITEM 9 MAY NOT EXCEED $2,000.) Describe the property briefly, and
e the T
Enter as item 13 all salaries and wages not included as a deduction in line
in exchange.
(c) of item 2; except compensation for partners or members, which shall not
If the property sold or exchanged was acquired prior to March 1, 1913, the be claimed as a deduction in this item or elsewhere on the return.
basis for determining GAIN is the cost or the fair market value as of March 1,
14. RENT
1913, adjusted as provided in section 113 (b) of the Revenue Act of 1936,
•whichever is greater, but in determining LOSS the basis is cost so adjusted.
Enter as item 14 rent or>"business property in which the organization has no
If the property was acquired after February 28, 1913, and the basis is not equity. Do no'; include rent for a dwelling occupied by any partner or member
otherwise determined under any of the paragraphs (1) to (12), inclusive, of for residential purposes.
section 113 (a) of the Revenue Act of 1936, then tie basis shall be the same
15. REPAIRS
as it would be in the hands of the transferor, increased in the amount of gain
Enter as item 15 the cost of ordinary repairs to keep the property in a
or decreased in the amount of loss recognized to the transferor upon such
transfer under the law applicable to the year m which the transfer was made. usable condition, including labor, supplies, and other items which do not apIf the property was distributed in kind by a partnership to any partner, the preciably add to the value or life of the property. Do not include expenditures
basis of such property in the hands of the partner shall be such part of the for the cost of replacements or permanent improvements to property, nor the
basis in his hands of his partnership interest as is properly allocable to such cost of business equipment or furniture. List in Schedule C the principal
property. (See section 113 of the Revenue Act of 1936.) If the amount items of cost, grouping the minor items in one amount.
shown as cost is other than actual cash cost of the property sold or exchanged,
16. INTEREST
full details must be furnished regarding the acquisition of the property.
Enter as depreciation the amount of exhaustion, wear and tear, obsolescence,
Enter as item 16 interest on business indebtedness to others. Do not inor depletion which has been allowed (but not less than the amount allowable) clude interest on capital invested in or advanced to the business by any
in respect of such property since date of acquisition, or since March 1,1913, if partner or member, nor interest on indebtedness incurred or continued to ptir-- the property was acquired before that date. In addition, if the property was chase or carry obligations (other than obligations of the United States issued
acquired before March 1, 1913, the cost shall be reduced by the depreciation after September 24, 1917, and originally subscribed for by the taxpayer) the
actually sustained before that date.
interest upon which is wholly exempt from taxation.
STATISTICS OF INCOME
17. TAXES
Enter as item 17 taxes <^n business property or for carrying on business. Do
not include taxes assessed against local benefits tending to increase the value of
the property assessed, as for paving, etc., Federal income taxes, nor estate,
inheritance, legacy, succession, and gift taxes, nor taxes entered in column 7 of
item 25, puga 1 of the return. List in Schedule D each class of taxes deducted.
18. LOSSES BY FIRE, STORM, ETC.
Eater as item 18 losses sustained during the year, if incurred in the trade or
business, or of property not connected with the trade or business, if arising by
fire, stonr>, shipwreck, or other casualty, or from theft, and not compensated
for by insurance or otherwise. See section 23 (c) of the 'Revenue- Act of 1934.
Explain such losses in Schedule E.
19. BAD DEBTS
Enter as item 19 debts, or portions thereof, arising from sales or services that
have been reflected in income, which have been definitely ascertained to be
worthless and have been charged off within the year, or such reasonable amount
as ha/3 been added to a reserve for bad debts within the year.
If the debts are included in the deduction claimed, state in Schedule F on
lice (a) of what the debts consisted, line (6) when they were created and when
they became due, line (c) what efforts were made to collect, and line (d) how
they were actually determined to be worthless.
If the amount deducted is an addition to a reserve, enter en the lines provided
in Schedule F the amounts charged on account, and the bad debts charged off,
for each of the past 4 years.
A debt previously charged off as bad, if subsequently collected, must be
returned as income for the year in which collected.
20. CONTRIBUTIONS
Enter as item 20 contributions or gifts made within the taxable year to any
corporation, or trust, or community chest, fund, or foundation, organized and
operated exclusively for religious, charitable, scientific, literary, or educational
purposes, or for tbe prevention of cruelty to children or animals, no part of the
net earnings of which inures to the benefit of any private shareholder or individual, and no substantial part of the activities of which is carrying on propaganda, or otherwise attempting, to influence legislation. The amount claimed
ehall not exceed 15 percent of the organization's net income computed without
the benefit of this deduction. List organizations and amounts contributed to
each in a separate schedule.
21. DEPRECIATION
The amount deductible on account of depreciation in item 21 is an amount
reasonably measuring the portion of the investment in depreciable property by
reason of exhaustion, wear and tear, or obsolescence, which is properly chargeable
against the operatic s of the year. If tho property was acqu'red by parchase
on or T
after March 1, 1913, the amount of depreciation should be determined
upon t ie basia of the original cost (not replacement co-it) of the property, and
the probable rumber of years remaining of its expected useful life. In case the
property \va purchased prior to March 1, 1913, tne amount of depreciation will
be delr-rrcir.ed in the sajue manne-, except that it will be compute*.' on its originil
cost, les dt preci ition. sustained prior to March 1, 1913, or its fair msrket value
as of that date, whichever is greater. If the property was acquired in ary
other manner than by purchase, see section 111 of tho Revenue Ac*, of 1931.
The capita sum to be recovered should be ch?.-p =d off ratably over the useful
life eZ the proptrty. Whatever plan or method of apportionment is adopted
must be reasonable, must have due regard to operating co. ditions during tho
taxable year and should be described in the return.
If a deduction is claimed on account of depreciation, fill in Schedule G. In
case obsolescence is included, etate separately amount cla;med and basis upen
which it is computed. Land values or cost mvst cot be included in the schedule,
and where I<,ri and buildings were purchased for a Tump sum the COS\J of the
buildirg subject to depreciation must be established. Th^ adjusted property
155
nection with the organization's business. In the case of an organization which
is engaged in a trade or business in which capital is a material income-producing
factor and in the trade or business of which the partner or member renders
personal services which are material to the earning of the organization's income,
the earned income of the partner or member from the organization is a reasonable allowance as compensation for the personal services actually rendered
by him, but not in excess of 20 percent of his shars of the net profits of the
organization (computed without deduction for so-called salaries to partners)
or members).
Credit for taxes.—If interest was received on tax-free covenant bonds in
connection with which an ownership certificate on Form 1000 wasfiled,the tax
of 2 percent paid at the source on such interest should be allocated to the
partners or members in column 6.
If income tax paid to a foreign country or a possession of the United States
is entered in column 7, submit Form 1116 with this return with a receipt for
each such tax payment. In case the amount entered in column 7 includes
foreign taxes accrued but not paid, attach to the form a certified copy of the
return on which the taxes were based. The Commissioner may require the
partners or members to give a bond on Form. 1117 for the payment of any
additional tax found due if the foreign tax when paid differs, from the amount
26. NONTAXABLE OBLIGATIONS, LIBERTY BONDS, ETC.
Enter on the proper lines in column 2 of Schedule H the amount of obligations
or securities owned at the end of the year, including the share of such obligations
owned in another partnership, syndicate, group, etc., and in column 3 the interest received or accrued thereon during the year. Each partner or member
should be advised as to the amount of his share of these obligations and of the
interest, in order that he may include this information in his individual income
tax return and determine whether such interest is subject to tax.
27. RETURNS BY PARTNERSHIPS, ETC.
Every domestic partnership (including syndicates, groups, pools, foint ventures, or other unincorporated orga&izations, through or by means of which any
business,financialoperation, or venture is carried on, and which are not, within
the meaning of the Revenue Act oi 1934, trusts, estates, or corporations) and
every foreign partnership, syndicate, pool, etc., doing business within the
United States or in receipt of income from sources therein regardless of the
amount, shall make a return of income on Form 1065 for the calendar year
1985 or for afiscalyear begun in 1G35 and ended in 1S8S. (See section 801 (a)
(3) and Supplement F of the Revenue Act of 1934.) If this return isfiledoa
behalf of a syndicate, pool, j oint venture, or similar group, a ocpy of tha operating
agreenieiit should be attached to this return.
28. PERIOD TO BE COVERED BY RETURN
Except in the ca3e of the first return the organization shall make its return
on the basis unon which the return was made for the accounting period immediately preceding unless, with the approval of the Commissioner, a change is
made in ths accounting period.
If the organization desires to change its accounting period fromfiscalyear to
calendar yecr, from calendar year tofiscalyear, or from onafiscalyear to another
fis'^il vo3r an ivpnlicaiion. for such change shall be made on Form 112S and f r
o—
warded to tho collector prior to the expiration of 30 days from the close of the
proposed accouitlng period.
29. ACCRUED OR RECEIVED INCOME
If the book3 of account are kept on an accrual basis, report all income accrued,
even though it lu>s not been actual! received or entered on the books, and
expenses incurreJ instead of expenses paid.
If the books are not kept on tho a-crual basis, report all income received or
c nstructively received, such as bank interest credited to the account of the
organization, and expenses paid.
SO. AFFIDAVITS
Partner o member.—The retur. shall be sworn to by any one of the partners
reconciled with, those account.? as relucted on the books of tho taxpayer. (Si e
or members,. If receivers, trustees in bankruptcy, or7assignees are in control of
eectioLS 23 (1) and 114 of the Kcvenue Act o{ 1934.)
Do not claim any deduction for depreciation in tiie value of c build'nsc occupied the properly or business of the organization, such receivers, trustees, or assignees
by any puxtner or member <ls a dwelling, or of other propsrty held for pcrcjiisl shall execute the rpturu under rath.
use, nor on stocks, bondc, and hi e securities.
Where return is prepared by someone other than the organization.—Question
1 on page 1 of the return should be answered fully, and where the return ia
22. OTHER DEDUCTIONS
actually prepared by some person or persons other than the organization, such
Enter as item 22 any other nuth riztd deductions for which no epafp is pro- pei son or persons must execute tho affidavit at the foot of page 2 of the return.
An atluriey or spent employed to represent the organization before the
vided elsewhere on page 1 of the return. Do not deduct loseos incurred in
Department in connection with tax matters is not permitted to administer the
into for profit. No deduction, is allowable for the amount of tny item or part
thereof allocable to a cla-3 of exempt incoai3, other than interest. Item'
31. WHEN AND WHERE THE RETURN MUST BE FILED
directly attributable to FUCII exempt income shall be allocated thereto, and
Tho return must be filed on vc before the fifteenth dav of the third montn
iter i Jin
such i
ceiving a
mpt i
e, othe following the close of the tf-xjbia year with tho collector of internal revenue for
than iite'Cbt, or holding any property or engaging i any activity tho income the district ia which the organization has its principal office or place of business.
i in
from which 13 cji^njpt shall submit with its return as a- part thereof an itemized The return for a foreign partnership, syndicate, pool, etc., shall be filed on or
statement, in detail, showing (1) the amount of each cl^ss of exempt inc we, before the fiftejnth day of the sixth month following the close of the taxable
and (2) the amount of items allocated to well such clebs (the amount sHocatrd year wUh the Collector of Internal Revenue, Baltimore, Maryland.
by apportionment being shown separately).
to exceed tj months, if application therefor is made before the date prescribed
23. TOTAL DEDUCTIONS
by law for fling cucli return, whenever in his judgment good causa exists.
Entci as item 23 the total of items 13 to 22, inclusive. Do not include any
32. PENALTIES
v
deduction cmimed in Schedule A or B.
For willful failure to make a return on time.—Not more than $10,000, or
2i. NET INCOME
imprisonment for not more than 1 year, or both, together with the costs of
Enter as item 24 the net income, which is obtained 1 y deducting item 23 from prosecution.
item 12. The net inc me of the u-^anLation shall be computed \TOon the bans
For willfully malrin* a false or fraudulent return.—Not more than $10,000,
of itstaxablo year in accordance with the m"thod rmploved in keeping tho bool s, or imprisonment for not more than 5 years, or both, together with the costs of
unless such method docs net clearly reflect tho income.
prosecution.
25. PARTNERS' OR MEMBERS' SHARES OF INCOME AND CREDITS
33. INFORMATION AT SOURCE
Enter the names and addresses of the partners or members on lines (a), (b).
Every partnership, syndicate, pool, etc., making payments of salaries (other
(c), etc., in column 1 of item 25, page 1 of the return, and extend in the proper than salaries paid to the partners or members), wages, interest, rents, commiscolumns each partner's or member's shares of the net income whether distributed sions, or other fixad or determinable income of $1,000 or more during the calendar
or not. Item "5 should aho show complete information with respect to all mem- year, to a single person, another partnership, syndicate, pool, etc., or a fiduciary,
bers of the partnership, syndicate, group, etc., haviDg any interest during any or $2,500 or more to a married person, is required to make a return on Forms
portion of the taxable year.
1096 and 1099, showiDg the amount of such payments and the name and address
Earned income.—Enter in Column 4 the proper part of each partner's or of each recipient. These forms will be furnished by any collector of internal
member's distributive share of the organization's net income which consists-of revenue upon request. Such returns covering the calendar year 193S must be
earned income. Such part cannot exceed a reasonable allowance aa'compensa- forwarded to the Commissioiier of Internal Revenue, Sorting Section, Washingtion for personal services actually rendered by the partner or member in con- ton D. C.r in time to be received not later than February 15, 1936.
INDEX
A
Page
Additional tax, estate tax returns
«
44, 56-63
Agriculture and related industries, individual income tax returns, net
income of $5,000 and over:
Profit and loss from business
24-25
By size of profit and loss
93
Alabama, revised figures (footnote 4)
42
Aliens:
Departing (item 5)
3
Filing returns (Revenue Acts 1913-1934).
„ 133-135, 138
Amended returns tabulated, individual income tax returns
2
Amusements, individual income tax returns, net income of $5,000 and
over :
Profit and loss from business
24-25
By size of profit and loss
.
98
Average net income, individual income tax returns, by States
..
73
Average tax, individual income tax returns:
Net income classes
_
74
States
73
B
Back taxes, defined (item 6)
3
Bonds. (See Stocks and bonds; Estate tax returns; Gift tax returns.)
Business profit and loss, individual income tax returns:
All returns:
Amount and percent.„___
.
9
Net income classes
.
15-17
No net income:
Amount
30
Deficit classes....
127-128
Percentage distribution by net income classes
12
States
85, 87
Years, 1916 through 1935
.
_ . . . 37-39,42
Returns with net income of $5,000 and over:
Explanatory text
23
Frequency 'distribution by net income classes:
By size of business profit classes
15-16
By size of business loss classes
„
16-17
Industrial groups and subgroups:
Returns with schedule A_.
.
24-25
Returns without schedule A
25
Salaries and wages paid
25
Total receipts
.
24
Net income classes
10-11
By size of selected sources of income and loss
15-17
Years, 1916 through 1935
39-42
C
Capital gains and losses, individual income tax returns:
Explanatory text
_
Income and loss from:
Years, 1922 through 1935___
Years, 1922 through 1935, net income of $5,000 and over
78020—38
11
7-8
37-39, 42
40-42
157
158
STATISTICS OE INCOME
Capital gains and losses, individual income tax returns—Continued.
Income and loss from:
Page
Amount and percent
9
Frequency distribution, net income of $5,000 and over by net
income classes:
By size of capital gain classes
18-19
By size of capital loss classes
19-20
Net income classes
10-11
By size of selected sources of income and loss; net income
of $5,000 and over
18-20
No net income:
Amount
30
Deficit classes
127-128
Percentage distribution by net income classes
12
States
85,87
Tax credit for capital loss, years 1924 through 1933
32
Tax on capital gain, years 1922 through 1933
32
Capital stock in estate tax returns:
By net estate classes
49-55
By taxable and nontaxable returns filed under various Revenue Acts. 46-48
Changes in tax laws affecting comparability of statistical data:
Estate tax returns
140-141
Gift tax returns
142
Individual income tax returns132-139
Charitable bequests:
Estate tax returns:
By net estate classes
49-55
By taxable and nontaxable returns filed under various Revenue
Acts
46-48
Gift tax returns:
By net gift classes
.
67-68
By total gift classes
68-69
Chemicals and allied products, individual income tax returns, net income
of $5,000 and over:
Profit and loss from business
24-25
Cities and counties, number of individual income tax returns by
30
Citizen and resident decedents, estate tax returns
43
Collections or taxes paid not comparable with tax liability
3
Community property income; individual income tax returns:
Number and net income
6
Net income classes
84
States
81
Comparability with previous years
4
Construction, individual income tax returns, net income of $5,000 and
over:
Profit and loss from business
24-25
By size of profit and loss
95
Contributions, individual income tax returns:
Amount and percent
9
Net income classes
11
No net income:
Amount of deduction for
30
By deficit classes
128
Percentage distribution by net income classes
12
States
87
Years, 1917, 1920, 1922 through 1935
37-42
Counties and cities, number of individual income tax returns by
30
Credits:
Estate tax returns
43,56-63
Individual income tax returns:
Allowed
7
Dependents
7, 73, 75
Earned income
7, 75
Personal exemption
7, 73, 75
Personal exemption and credit for dependents, by States
73
Tax credits, years 1923 through 1933
32
Cumulative distribution, individual income tax returns; number, net
income and tax by net income classes
5, 76-78
STATISTICS OF INCOME
159
Pagt
Curative service, individual income tax returns, net income of $5,000 and
over:
Profit and loss from business
24-25
By size of profit and loss
..
98
D
Debts, unpaid mortgages, etc., estate tax returns:
By net estate classes
.
50-55
By taxable and nontaxable returns filed under various Revenue Acts_ 46-48
Deductions:
Estate tax returns:
By net estate classes
. 50-55
By taxable and nontaxable returns filed under various Revenue
'Acts
_
46-48
Gift tax returns:
By net gift classes
.
„
.
67-68
By total gift classes-..-.__
,__ 68-69
Individual income tax returns:
Amount and percent
9
Business loss—
9, 11, 16-17, 24-25, 30, 37-42, 87, 90, 93-101
Contributions
-____
9, 11, 30, 37-42, 87, 128
Interest paid___
9, 11, 12, 30, 38-42, 87, 91
Net capital loss
.
9, 11, 19-20, 30, 32, 87, 128
Net income classes
.—
___,_,
11
No net income:
Amount
30
Deficit classes..-.128
Partnership loss
9, 11, 12, 30, 38-42, 87, 90
Percentage distribution by net income classes
_
12
States..-'
.
87
Taxes paid
.
9, 11, 12,30,38-42,87,91
Years, 1916 through 1935
37-39
Years, 1916 through 1935, net income $5,000 and over
39-42
Deficit; Individual income tax returns:
Amount
-__
29
By deficit classes
29, 128
Defined.
.
2
States
127
Dependents, credit for, individual income tax returns:
Amount and percent
7
Net income classes, and under $6?000, by taxable and nontaxable returns
„
^
75
Dividends on stock of domestic corporations, individual income tax returns :
Amount and percent
7, 9
Frequency distribution; net income $5,000 and over, by net income
classes and by size of dividend classes
22-23
Net income classes
10, 89
No net income:
Amount
.
30
Deficit classes
127
Percentage distribution by net income classes
12
States
85
Years, 1916 through 1935
37-39
Years, 1916 through 1935, net income $5,000 and over
39-42
Domestic service, individual income tax returns, net income of $5,000
and over:
Profit and loss from business
24-25
By size of profit and loss
97
E
Earned income credit, individual income tax returns:
Amount
.
.
Net income classes
Tax credit by years
--
7
75
32
160
STATISTICS OF INCOME
Page
Educational service, individual income tax returns, net income $5,000 and
over:
Profit and loss from business
24-25
By size of profit and loss
99
Effective tax rate (percent), individual income tax returns:
Amount, 1934 and 1935
4
Net income classes
75
Years, 1916 through 1935
36
Engineering service, individual income tax returns, net income $5,000 and
over:
Profit and loss from business
24-25
By size of profit and loss
99
Estates and trusts, individual income tax returns:
Number and net income
ft
Net income classes
84
States and Territories
81
Estate tax returns:
Explanatory text
43-45
Resident decedents:
N on taxable:
Deductions
46-48
Form of property
46-48
Gross estate
46-48, 64
Number of returns:
By Revenue Acts under which
filed
46-48, 64
By States
._ 62-63
Revenue Acts under which
filed
.
43-44, 46-48
States
62-63
Taxable:
Additional tax:
By Revenue Acts under which
filed
44, 51-63
By States
62-63
Deductions
46-55
Form of property
46-55
Gross estate
46-55, 62-64
Net estate
46-55, 62-64
Number of returns:
By Revenue Acts under which
filed
46—55, 64
By States
62-63
Revenue Acts under which
filed
46-55, 64
States
62-63
Tax credits:
By net estate classes
56-61
By States
62-63
Tax liability:
By net estate classes
56—61
By Revenue Acts under which
filed
46-48
By States
62-63
Resident and nonresident decedents; taxable and nontaxable:
Rates, specific exemption and credits against tax, Revenue Acts
1916 through 1935
140-141
Years, 1916 through 1936, historical summary
64
Estimated returns, individual income tax returns
2
Excess-profits tax:
Individual income tax returns (footnote 4)
32
; Partnership returns (footnote 4)
32
Exemptions:
Estate tax returns
43-44, 46-55
Gift tax returns
67-69
Individual income tax returns:
Amount
7
Net income classes
75
States
73
Exclusions: Gift tax returns
67-69
STATISTICS OF INCOME
161
F
Page
Family relationship, individual income tax returns
6, 79-84
Fiduciary income, individual income tax returns:
Amount and percent
9
Denned
8
Net income classes
10, 89
No net income:
Amount
30
Deficit classes.
127
Percentage distribution by net income classes
12
States___
86
Years, 1916, 1922 through 1935
37-39,42
Years, 1916, 1922 through 1935, nat income of $5,000 and over
39-42
Finance, individual income tax returns, net income of $5,000 and over:
Profit and loss from business by subgroups
24-25
By size of profit and loss
100-101
Fiscal year returns, individual income tax returns
~
1
Food and kindred products, individual income tax returns, net income of
$5,000 and over:
Profit and loss from business
24-25
Forest products, individual income tax returns, net income of $5,000 and
over:
Profit and loss from business.
24-25
Forms for 1935:
Individual income tax returns, 1040, 1040A
146-151
Partnership return, 1065
.
152-155
Frequency distribution of selected sources of income and losses, individual income tax returns, net income of $5,000 and over, by net income classes and by size of each source of income and loss:
Business profit
_.
15-16
Business loss.. .
16—17
Dividends..
22-23
Net capital gain
.
13-19
Net capital loss
.
19-20
Rents and royalties
20-21
Salaries and wages. _.
13—14
Funeral and administrative expenses, estate tax returns:
By net estate classes
46-55
By taxable and nontaxable returns filed under various Revenue Acts.- 46-55
G
Gains and losses (capital), individual income tax returns
7-8
Geographic distribution, individual income tax returns
4
Gift tax returns:
Deductions
67-69
Exemptions
67-69
Exclusions
67—69
Explanatory text
65-66
Forms of property
65, 67
Identical donors
66
Net gift classes
67-68
Number of returns, taxable and nontaxable
68-69
Rates, Revenue Acts 1924, 1932, 1934, and 1935
142
Tax
66-69
Total gift classes
68-69
Trust, amount by
66
Years, 1932-1935
66
Government securities, wholly and partially tax-exempt, individual
income tax returns
26-28
Gross estate, estate tax returns:
Net estate classes..
49-55
States, citizen or resident decedents.
62-63
Taxable and nontaxable returns, filed under various Revenue Acts. 46-55, 64
Years, 1916 to 1936, resident and nonresident decedents
64
162
STATISTICS OF INCOME
H
p
Heads of families, classified, individual income tax returns:
age
Number and net income
6
Net income classes
83
States
80
Historical summaries:
Estate tax returns:
Resident and nonresident, 1916 through 1936
64
Gift tax returns:
Years, 1932 through 1935
66
Individual income tax returns:
Effective tax rate (percent), 1916 through 1935
36
Net income by net income classes, 1916 through 1935
34
Number by net income classes, 1914 through 1935
32-33
Sources of income, 1916 through 1935
37-42
States, 1925 through 1935
102-126
Tax by net income classes, 1916 through 1935
35
Years, 1913 through 1935
31-32
Husbands and wives, joint returns of, individual income tax returns:
Number and net income
6
Net income classes
•
82
States
79
Husbands filing separate returns
6, 79, 82
I
Income. (See Individual income.)
Income tax. (See Individual income tax.)
Income tax rates. (See Synopsis of individual income and profits tax rates.)
Income tax returns. (See Individual income tax returns.)
Income and profits taxes paid foreign countries
3
Individual income:
Net:
Amount and percent
4
Average
4, 73
Cumulative distribution by net income classes
5, 77
Defined
2-3
Exempt from normal tax
7
Net income classes
5
Net income classes and by sex and family relationship
82-84
Net income classes and by States
102-126
Percentage distribution by net income classes
12
Sex and family relationship
6
Simple and cumulative distribution by net income classes
5, 77
Sources of income
8-9
States
102-126
States, and by sex and family relationship
79-81
Subject to normal tax
7
Years, 1913 through 1935, amount
31
Years, 1916 through 1935, by net income classes
.
34
Years, 1925 through 1935, States
102-126
Nontaxable, under $6,000:
Net income classes
82-84
Net income classes and by States
102-126
Sources of:
Amount and percent
9
Frequency distribution by net income classes and by size of income and losses
13-23
Net income classes
10-11, 88-92
No net income:
Amount
30
Deficit classes
127-128
Percentage distribution by net income classes
12
Revised figures (footnote 19)
42
States
85-87
Years, 1916 through 1935
37-39, 42
Years, 1916 through 1935, net income of $5,000 and over
39-42
STATISTICS OF INCOME
163
Individual income—Continued
Total:
Page
Amount and percent- _ _
.
9
Net income classes
_
10, 90
No net income:
Amount
. _ _ _,
30
Deficit classes,
.
.
123
Percentage distribution, by net income classes
12
States
86
Years, 1916 through 1935
37-39,42
Years, 1916 through 1935, net income of $5,000 and over
39-42
Individual income tax (see also Excess-profits tax):
Amount, average, and rate on net income
4
Average:
For 1935 and 1934
.
4
Net income classes
.
74
States
_.
73
Average rate of tax on net income (effective tax):
Net income classes
75
Years, 1916 through 1935, by net income classes
36
Comparison 1935 with 1934
4
Credits (see also Credits)
32
Cumulative distribution by net income classes
5, 76-78
Net income classes
5, 74-75
Net income classes and by States..
„
102-126
Normal tax:
Net income classes
35, 74
Rates, Revenue Acts 1913 through 1934
132-135
Years, 1913 through 1935
32
Simple and cumulative distribution by net income classes
5, 78
States
73,102-126
Surtax:
Net income classes
35, 74
Rates, Revenue Acts 1913 through 1934
136-137
Years, 1913 through 1935—._.___
.
32
Total:
Net income classes
___
_.__
5, 35, 74
States
73
Years, 1913 through 1935
32
Years, 1916 through 1935, and by net income classes
35
Years, 1925 through 1935, States.
102-126
Individual income tax returns:
Changes in tax laws affecting comparability of statistical data:
Credits
....
„__
. . 138-139
Personal exemption
133
Rates, Revenue Acts 1913 through 1934
____
132-139
Requirements for filing returns
132-135
Supplemental rates and tax credits, Revenue Acts 1917 through
1934
....
138-139
Comparison 1935 and 1934
4
Credit for dependents by net income classes
__
75
Deductions in. (See Deductions.)
Earned income credit
7, 75
Fiscal year returns tabulated
1
Geographic distribution
4
Method of compiling data; net income under $5,000
2
Net income classes, and under $6,000, by taxable and nontaxable
returns. _ _
„
74-75
Net income classes, by States, and under $6,000, by taxable and
nontaxable returns
102-126
No net income:
Deficit classes
29
Sources of income and deduction
.
__
30
States, number of returns and amount of deficit
127
164
STATISTICS OF INCOME
Individual income tax returns—Continued.
Number of:
Page
Counties, cities, and towns
30
Cumulative distribution
5, 76-78
Frequency distribution by net income classes and by size of each
source of income and loss
13-23
Net income classes
74
Net income classes by States
102-126
Net income classes by years, 1914 through 1935
32-33
No net income
29, 127
Sex and family relationship
6, 79-84
Simple and cumulative distribution
5, 76
Sources of income and deductions
10-11, 88-92
States
73
States by net income classes
102-126
Taxable and nontaxable returns, by years, 1916 through 1935
31
Years, 1913 through 1935
.
31
Years, 1935 and 1934 compared
4
Years, 1925 through 1935, by States
102-126
Percentage of population filing returns by States
73
Personal exemption and credit for dependents by States
73
Personal exemption by net income classes
75
Population by States
73
Procedure in tabulation
1-2
Sex and family relationship:
Amount and percent
6
Net income classes, and under $6,000, by taxable and nontaxable.- 82-84
States
79-81
Simple and cumulative distribution by net income classes
5
Sources of income and deductions:
Amount and percent
9
Explanatory text
8-9
Frequency distribution by net income classes and by size of each
source of income and loss
13-23
Net income classes
~
„__. 10-11
No net income:
Amount
30
Deficit classes
127-128
Percentage distribution by net income classes
12
States
85-87
Years, 1916 through 1935
37-39
Years, 1916 through 1935, net income of $5,000 and over
39-42
States
73, 102-126
Tax-exempt obligations
26-29
Unaudited returns tabulated
2
Years, by net income classes
32-36
Years, 1913 through 1935
31-32
Individuals required to file returns, 1913 through 1935
132-135
Insurance:
Estate tax returns:
By net estate classes
49-55
By taxable and nontaxable returns filed under various Revenue
Acts
46-48
Gift tax returns by net gift classes
67-68
Interest, taxable, on partially tax-exempt Government obligations:
Individual income tax returns:
Amount and percent
7, 9
Net income classes
10, 89
No net income:
Amount
30
Deficit classes
127
Percentage distribution by net income classes
12
States
86
Years, 1919 through 1935
37-39, 42
Years, 1919 through 1935, net income of $5,000 and over
39-42
STATISTICS OF INCOME
165
Interest, other taxable; individual income tax returns:
Amount and percent
9
Net income classes
10, 90
No net income:
Amount
30
Deficit classes
127
Percentage distribution by net income classes
12
States
86
Years, 1927 through 1935
37-39,42
Years, 1927 through 1935, net income of $5,000 and over
39-42
Interest paid, individual income tax returns:
Amount and percent
9
Defined
8
Net income classes._„
11,91
No net income:
Amount. _ _
.
30
Deficit classes
128
Percentage distribution by net income classes
12
States
1_
__
..
87
Years, 1933 through 1935
37-39, 42
Years, 1933 through 1935, net income of $5,000 and over
39-42
Investment brokers; real estate, etc., individual income tax returns, net
income of $5,000 and over:
Profit and loss from business
24-25
By size of profit and loss
100
Investment in bonds, stocks, etc.:
Estate tax returns:
By net estate classes
49-55
By taxable and nontaxable returns filed under various Revenue
"Acts
.„__
46-48
Gift tax returns
.
67
J
Joint returns of husbands and wives, individual income tax returns:
Number of returns and amount of net income
6
Net income classes
82
States__ _
79
Jointly owned property; Estate tax returns (footnotes)
48, 50, 53, 55
L
Labor, individual income tax returns, net income of $5,000 and over:
Profit and loss from business by industrial groups
24-25
Leather and its manufactures, individual income tax returns, net income
of $5,000 and over:
Profit and loss from business
24-25
Legal service, individual income tax returns, net income of $5,000 and
over:
Profit and loss from business
24-25
By size of profit and loss
99
Liberty bonds, Treasury certificates, etc., individual income tax returns:
Amount owned and interest received by net income classes
_ — 27-28
Liquors and beverages, individual income tax returns, net income of $5,000
and over:
Profit and loss from business
.
24-25
Loss from business, individual income tax returns. (See Profit and loss
from business.)
Loss, capital net. (See Capital gains and losses.)
Loss from sale of real estate, stock, bonds, etc., individual income tax
returns:
Years, 1926 through 1933—
37-39,42
Years, 1926 through 1933, net income of $5,000 and over
40-42
M
Manufacturing, individual income tax returns, net income $5,000 and over:
Profit and loss from business by subgroups
24r-25
By size of profit and loss
— _
94
166
STATISTICS OF INCOME
Page
Manufacturing not elsewhere classified, individual income tax returns,
net income of $5,000 and over:
Profit and loss from business by subgroups
Men, individual income tax returns:
Number and amount of net income
Net income classes
States
Metal and its products, individual income tax returns, net income of $5,000
and over:
Profit and loss from business
Mining and quarrying, individual income tax returns, net income of $5,000
and over:
Profit and loss from business
By size of profit and loss
Mortgages, notes, cash, etc., estate tax returns:
By net estate classes
By taxable and nontaxable returns filed under various Revenue Acts,.
24-25
6
82, 83
79,80
24-25
24-25
94
49-55
46-48
N
National Industrial Recovery Act
132-135
Nature of business not given, individual income tax returns, net income of
$5,000 and over:
Profit and loss from business
24-25
By size of profit and loss
101
Net capital gain, individual income tax returns. __ 7, 10, 12, 18, 30, 37-42, 85, 127
Net capital loss, individual income tax returns.. __ 7, 10, 12, 19, 30, 37-42, 87, 128
Net estate, estate tax returns (see also Estate tax returns):
Defined
43
Net estate classes
.
56-61
Revenue Acts
46-55, 64
States
62-63
Years, 1916 through 1936™—
64
Net income defined
2-3
Net income exempt from normal tax; individual income tax returns:
Amount and percent
.
7
No net income, Form 1040
29-30, 127-128
Normal income tax, individual income tax returns
7, 74
O
Obligations of States and Territories, etc., individual income tax returns,
net income of $5,000 and over:
Amount owned and interest received, by net income classes
27-28
Obligations issued under Federal Farm Loan Act, individual income tax
returns, net income of $5,000 and over:
Amount owned and interest received, by net income classes
27-28
Other income; individual income tax returns:
Amount and percent
9
Net income classes
10, 90
No net income:
Amount
30
Deficit classes
127
Percentage distribution by net income classes
12
States
86
Years, 1927 through 1935
37-39, 42
Years, 1927 through 1935, net income of $5,000 and over
39-42
Other taxable interest, individual income tax returns:
Amount and percent
„_
9
Net income classes
10, 90
No net income:
Amount
30
Deficit classes
127
Percentage distribution by net income classes
12
States
86
Years, 1927 through 1935
37-39,42
Years, 1927 through 1935, net income of $5,000 and over__
_. 39-42
STATISTICS OF INCOME
167
P
Page
Paper, pulp, and products, individual income tax returns; net income of
$5,000 and over:
Profit and loss from business
24-25
Partially tax-exempt obligations, individual income tax returns (see also
Wholly and partially tax-exempt obligations)
26-29
Partnership returns of income, number of, 1917 through 1935
30-31
Partnership profit and loss, individual income tax returns:
Amount of profit and loss, and percentages
9
Defined
_____
___
8
Loss, by net income classes
.
.
11, 90
Net income classes
10-11, 88, 90
No net income:
Amount
30
Deficit classes
_
127-128
Percentage distribution by net income classes
12
Profit, by net income classes
10, 88
States
__.
_
.
85,87
War and excess-profits tax (footnote 3)
32
Years, 1917 through 1935
.
37-39,42
Years, 1917 through 1935, net income of $5,000 and over._
39-42
Partnership loss. (See Partnership profit and loss.)
Personal exemption, individual income tax returns:
Amount and percent
, _.
7
Net income classes, and under $6,000, by taxable and nontaxable
75
States
_„
73
Personal exemption and credit for dependents, individual income tax
returns
_
73
Population of the United States, estimated as of July 1, 1935, by States. _
73
Power of appointment, estate tax returns by net estate classes (footnotes
9,5)
48,50,53,55
Printing, publishing, and allied industries, individual income tax returns,
net income of $5,000 and over:
Profit and loss from business
24-25
Profit and loss from business, individual income tax returns, net income of
$5,000 and over:
By business profit classes.
15-16
By business loss classes
16-17
By industrial groups
24-25, 93-101
Profit from sale of real estate, stocks, bonds, etc., individual income tax
returns:
Years, 1917 through 1933
.__ 37-39,42
Years, 1917 through 1933, net income of $5,000 and over
39-42
Property in estate tax returns by net estate classes, classified
46-55
Property previously taxed, estate tax returns (footnotes 9, 5)
48, 50, 53, 55
Q
Quarrying, individual income tax returns.
(See Mining and quarrying.)
R
Real estate:
Estate tax returns:
By net estate classes
49-55
By taxable and nontaxable returns filed under various Revenue
Acts
46-48
Gift tax returns by total gifts and net gift classes
67
Individual income tax returns; net income of $5,000 and over:
Profit and loss from business
24-25
By size of profit and loss
»_
100
Rents and royalties; individual income tax returns:
Amount and percent
9
Frequency distribution; net income of $5,000 and over by net income
classes and by size of rent and royalty classes
20-21
Net income classes
10, 89
No net income:
Amount
.
30
Deficit classes
._.
127
168
STATISTICS OF INCOME
Rents and royalties; Individual income tax returns—Continued.
Percentage distribution by net income classes
12
States
85
Years, 1916 through 1935
37-39, 42
Years, 1916 through 1935, net income of $5,000 and over
39-42
Requirements for filing individual income tax returns
132-135
Retail trade, individual income tax returns, net income $5,000 and over:
Profit and loss from business
24-25
Returns tabulated, individual income tax returns
1-2
Returns on Form 1040, no net income; individual income tax returns:
Deficit classes
29, 127-128
Sources of income and deductions
127-128
States
127
Revenue Acts, 1913 through 1935:
Estate tax returns; tax rates, specific exemption, and credits against
estate tax
140-141
Excess-profits tax rates; war and
,_«
138
Gift tax returns; tax rates, specific exemption, exclusions
142
Individual income tax returns:
Required to file returns; personal exemption; credits for dependents and normal tax rates
132-135
Supplemental income and profits tax rates and tax credits
138-139
Surtax rates
136-137
Revised figures—Sources of income and deductions
42
Royalties. (See Rents and royalties.)
Rubber products, individual income tax returns; net income of $5,000 and
over:
Profit and loss from business
24-25
S
Salaries, wages, commissions, fees, etc., individual income tax returns:
Amount and percent
9
Frequency distribution by net income classes; net income of $5,000
and over, by size of salary and wage classes
.
13—14
Net income classes
10, 88
No net income:
Amount
30
Deficit classes
127
r
Percentage distribution bj net income classes
12
States
85
Years, 1916 through 1935
37-39, 42
Years, 1916 through 1935; net income of $5,000 and over
39-42
Salaries and wages paid: Business profit and loss, by industrial groups and
subgroups
„
25
Sampled returns: Individual income tax returns
2
Securities, wholly and partially tax-exempt, individual income tax returns.
(See Obligations; Tax-exempt investments.)
Service, individual income tax returns, net income of $5,000 and over:
Profit and loss from business by subgroups
24-25
By size of profit and loss
97-99
Sex and family relationship, individual income tax returns:
Number of returns and amount of net income
6
Net income classes
82-84
States
79-81
Simple and cumulative distribution of individual income tax returns
5, 76-78
Sources of income and deductions, individual income tax returns:
Amount and percent
9
Explanatory text
8-9
Frequency distribution; net income of $5,000 and over, by net income
classes and by size of income and losses
13-23
Net income classes
10-11, 88-92
No net income:
Amount
30
Deficit classes
127-128
Percentage distribution by net income classes
12
Revised figures (footnote 19)
42
States
85-87
STATISTICS OF INCOME
169
Sources of income and deductions, individual income tax returns—
Continued.
Pag*
Years, 1916 through 1935
37-39, 42
Years, 1916 through 1935, net income of $5,000 and over
39-42
State and municipal bonds, estate tax returns:
By net estate classes
49-55
By taxable and nontaxable returns, filed under various Revenue
Acts
46-48
Stocks and bonds:
Estate tax returns:
By net estate classes
49-55
By taxable and nontaxable returns, filed under various Revenue
Acts
46-48
Gift tax returns, by total gifts and net gift classes
67
Stone, clay, and glass products, individual income tax returns, net income
of $5,000 and over:
Profit and loss from business
.
24-25
Surtax. (See Individual income tax.)
Surtax net income, individual income tax returns
3
Synopsis of individual income tax rates; Estate and Gift tax rates:
Credits and exemptions affecting comparability of data in Statistics
of Income
132-142
T
Tax collections compared with tax liability
3
Tax credits:
Earned income, years 1924 through 1931
32
Capital net loss, years 1924 through 1933_
32
Taxes. (See Estate tax; Gift tax; Individual income tax.)
Tax liability
4
Taxes paid, individual income tax returns:
Amount and percent
9
Defined.
8
Frequency distribution by net income classes
91
Net income classes
11, 91
No net income:
Amount
30
Deficit classes
128
Percentage distribution by net income classes, net income of $5,000
and over
12
States
87
Years, 1933 through 1935
38-39,42
Years, 1933 through 1935, net income of $5,000 and over
.
40-42
Taxes paid at source
3
Tax-exempt income. (See Wholly and partially tax-exempt obligations.)
Tax-exempt investments:
Estate tax returns
.
46-55
Individual income tax returns by net income classes
27-28
Tax forms for 1935: 1040; 1040A; 1065
143-155
Tentative tax, estate tax returns
56-61
Textiles and their products, individual income tax returns, net income of
$5,000 and over:
Profit and loss from business
24-25
Tobacco products, individual income tax returns, net income of $5,000 and
over:
Profit and loss from business
24-25
Trade, wholesale; retail; wholesale and retail; individual income tax
returns, net income of $5,000 and over:
Profit and loss from business
.
24-25
By size of profit and loss
96-97
Transfers made in contemplation of death, estate tax returns (footnotes 9,5)_
48,
50, 53, 55
Transportation and other public utilities, individual income tax returns;
net income of $5,000 and over:
Profit and loss from business
24-25
By size of profit and loss
95
170
STATISTICS OF INCOME
Pagd
Treasury notes; Treasury bills and certificates of indebtedness, etc.; individual income tax returns, net income of $5,000 and over:
Amount owned and interest received by net income classes
27-28
Trusts; gift tax returns, by form of property
66
U
United States Government bonds, wholly and partially tax-exempt, indifr vidual income tax returns, net income of $5,000 and over
27-28
Utah, revised figures (footnotes 3,19)
34, 42
W
Wages, salaries, commissions, etc.; individual income tax returns. (See
Salaries, wages, etc.)
War-profits and excess-profits tax
32
Wholesale trade, individual income tax returns, net income of $5,000 and
over:
Profit and loss from business
24-25
By size of profit and loss
.
96-97
Wholly and partially tax-exempt obligations; individual income tax returns,
net income of $5,000 and over:
Amount owned by net income classes
27
Explanatory text
26, 29
Interest received by net income classes
28
Wives and husbands, joint returns of, individual income tax returns
6, 79, 82
Wivesfilingseparate returns from husbands, individual income tax returns:
Number of returns and amount of net income
6
Net income classes
82
States
79
Women, single, individual income tax returns:
Heads of families and not heads of families
6
Number of returns and amount of net income
6
Net income classes
83
States
80
U. S. TREASURY DEPARTMENT
BUREAU OF INTERNAL REVENUE
STATISTICS OF INCOME
FOR 1935
PART 2
COMPILED FROM CORPORATION INCOME AND
EXCESS-PROFITS TAX RETURNS AND
PERSONAL HOLDING COMPANY
RETURNS
PREPARED UNDER DIRECTION OF THE
COMMISSIONER OF INTERNAL REVENUE
BY THE
STATISTICAL SECTION, INCOME TAX UNIT
UNITED STATES
GOVERNMENT PRINTING OFFICE
W A S H I N G T O N : 1938
F o r sale b y t h e S u p e r i n t e n d e n t of D o c u m e n t s , W a s h i n g t o n , D . C . - - - - - - - - - - - - - -
P r i c e 15 c e n t s
CONTENTS
Page
1-30
Official transmittal
CORPORATION INCOME AND EXCESS-PROFITS TAX RETURNS
Returns tabulated
Definitions of gross income, deductions and net income
Tax liability and collections
Industrial classification
Geographic distribution
Comparability with previous reports
Number of returns, net income or deficit, and tax
By major industrial groups
By net income and deficit classes
Income and profits taxes paid to foreign countries or possessions of the
United States, reported as a tax credit, 1925-35
Dividends paid, 1922-35
Compiled receipts and compiled deductions
Corporations submitting and not submitting balance sheets
Assets and liabilities
Corporations submitting balance sheets, returns with net income and
with no net income
Number of corporation returns filed and number of balance sheets, by
net income and deficit classes
Gross capital assets, reserves for depreciation and depletion (except on
land), and net capital assets, by major industrial groups
Assets and liabilities and compiled receipts and compiled deductions, by
total assets classes
Returns with net income and with no net income
Consolidated returns of railroads
Compiled receipts, compiled deductions, net income or deficit, income
tax, excess-profits tax, total tax and dividends paid
Assets and liabilities
Fiscal year returns
By month in which fiscal year ended
By net income and deficit classes
Part-year returns
I
2
2-3
3
3
4
4
4-6
7
8'
8-9
9-10
11
11-15
12
13
14-15
15-16
16
17-19
17-18
18-19
19-20
19
20
20
HISTORICAL SUMMARIES, CORPORATION INCOME AND EXCESS-PROFITS TAX
RETURNS
Total number, number with net income and with no net income, gross income, net income, deficit, net income less deficit, and total tax, 1909-35__
Number of returns, and net income or deficit, by net income and deficit
classes, 1932-35
Number of returns, compiled receipts and compiled deductions, 1926-35__
Returns submitting balance sheets: number of balance sheets, assets and
liabilities 1926-35, and compiled receipts and compiled deductions
1931-35
21-22
22-23
23-24
25-26
PERSONAL HOLDING COMPANY RETURNS
General explanations
27-28
Number of returns, receipts, deductions, adjusted net income, credits, and
surtax, by types of returns
29
Number of returns by adjusted net income classes
30
in
IV
CONTENTS
BASIC TABLES—CORPORATION INCOME AND EXCESS-PROFITS TAX RETURNS
United
1.
2.
3.
States in aggregate (1-7):
By States and Territories
By major industrial groups and subgroups
Compiled receipts and compiled deductions, by major industrial
groups:
All returns. __
Returns with net income
Returns with no net income.
4. Corporations submitting balance sheets, by major industrial groups,
for returns with net income and with no net income: assets and
liabilities and compiled receipts and compiled deductions
5. Corporations submitting balance sheets, by total assets classes:
assets and liabilities and compiled receipts and compiled deductions :
All returns with balance sheets
Returns with net income
Returns with no net income
6. Corporations submitting balance sheets, by total assets classes for
major industrial groups: selected items of assets and liabilities and
selected items of receipts for returns with net income and with no
net income
7. By major industrial groups for returns with net income and with no
net income, 1926-35
States and Territories separately (8):
8. Historical summary, 1926-35
Page
32-33
34-39
40-43
44-47
48-51
52-59
60-61
62-63
64-65
66-83
84-88
89-99
REVENUE ACTS OF 1913-1934 AND CERTAIN TAX PROVISIONS OF THE NATIONAL
INDUSTRIAL RECOVERY ACT (1933); ALSO THE SPECIAL EXCISE TAX UNDER
THE ACT OF AUGUST 5. 1909—SYNOPSIS OF CORPORATION INCOME AND PROFITS TAX RATES AND CREDITS AFFECTING THE COMPARABILITY OF DATA IN
"STATISTICS OF INCOME"
101-105
INCOME TAX FORMS
Facsimiles of Forms 1120, 1120L, and 1120H for 1935
107-123
INDEX
125-13&
-
STATISTICS OF INCOME FOR 1935
PART 2
CORPORATION INCOME AND EXCESS-PROFITS TAX RETURNS
AND PERSONAL HOLDING COMPANY RETURNS
TREASURY DEPARTMENT,
OFFICE OF COMMISSIONER OF INTERNAL REVENUE,
Washington, D. C., September 23, 1938,
SIR: In accordance with the provision in the Revenue Act of 1916
and subsequent acts requiring the publication annually of statistics
with respect to the operation of the income, war-profits, and excessprofits tax laws, I have the honor to transmit herewith a report
entitled "Statistics of Income for 1935, Part 2," prepared from corporation income and excess-profits tax returns and personal holding
company returns for 1935 filed during 1936, with a historical presentation of the income and of the tax liability reported by corporations from 1909 to date. (Statistics compiled from individual income
tax returns for 1935, and estate tax returns and gift tax returns filed
during 1936, are published in Statistics of Income for 1935, Part 1.)
CORPORATION INCOME AND EXCESS-PROFITS TAX RETURNS
RETURNS TABULATED
In general, the corporation income and excess-profits tax returns
covered by this report are for the calendar year 1935. However, a
considerable number of returns are filed for a fiscal year other than the
calendar year. The returns for a fiscal year ended in the period
July, 1935, through June, 1936, are tabulated with the calendar
year returns. There are also included part-year returns for which the
greater part of the accounting period falls in 1935.
The returns for 1935 are filed under the provisions of the Revenue
Act of 1934. The major changes made by this act affecting the tabulated data for corporations are set forth in the section of this report
entitled "Revenue Acts of 1913-1934 and certain tax provisions of
the National Industrial Recovery Act (1933); also the special excise
tax under the Act of August 5, 1909/' pages 101-105.
The general tables for corporations include, in addition to aggregates for all returns, tabulations for returns with net income and with
no net income. The statistics are taken from returns as filed and
prior to any revision or adjustment that may subsequently be made as
a result of audit by the Bureau of Internal Revenue.
2
STATISTICS OF INCOME
DEFINITIONS OF GROSS INCOME, DEDUCTIONS, AND NET INCOME
In this report "gross income" corresponds to "total income" reported in item 14 on the face of the return for 1935, plus "cost of goods
sold" and "cost of operations," items 2 and 5, less "interest on Liberty
bonds, etc.," item 11. This last item has been deducted from "total
income," as this item was not included in "gross income" for prior
years. "Deductions" correspond to "total deductions" reported in
item 26 on the face of the return for 1935, plus "cost of goods sold"
and "cost of operations," items 2 and 5. All negative income reported
on the returns under sources of income are transferred to deductions
and both "gross income" and "deductions" are increased by a like
amount. "Net income" in this report means the amount of income
subject to income tax (item 30 on the face of the return) and represents
the amount of gross income, as defined above, in excess of deductions;
and "deficit" represents excess of deductions over gross income.
References to item numbers on the return relate to Form 1120, facsimile of which appears on pages 110-115.
TAX LIABILITY AND COLLECTIONS
The amount of tax liability as reported on the returns is not precisely comparable with the amount of corporate income tax collections during the calendar year in which the returns are filed. Several
factors are responsible for the difference in the taxes collected and
the tax liability reported on the returns, among which are the following:
1. The amount of tax originally reported may have been subsequently revised as the result of audit of the returns. The revisions
may result in additional assessments, thereby increasing the tax
liability, or in certificates of overassessment, representing abatements
and credits, which reduce the tax liability originally reported. An
amended return has the same effect as an audit revision.
2. Income and profits taxes paid to foreign countries or possessions
of the United States may be taken as a deduction from gross income or
applied with certain limitations as a credit against the income tax
payable to the United States. The amount of such taxes taken as a
credit by corporations against the income tax liability to the United
States has not been deducted from the amount of income tax liability
shown in the tabulations in this report. It is tabulated for the years
1925 through 1935 however, on page 8.
3. Because of being assessed against the debtor corporation, income tax paid at source on tax-free covenant bonds is included in the
corporation income tax collections, notwithstanding the fact that it
is paid on behalf of individual holders of bonds.
4. The amount of tax liability on fiscal year returns may not represent taxes collected during the calendar year in which the returns
are filed. Fiscal year returns are required to be filed on or before
the 15th day of the third month after the end of the fiscal year, and
payment, as in the case of calendar year returns, is required at the
time the return is filed, or in four quarterly installments. The first
of the quarterly installments is due when the return is filed. Thus
during the calendar year 1936, collections were made of part or all
of the taxes reported on returns for fiscal years ended in period Janu-
STATISTICS OF INCOME
3
aiy 31, 1935 (the last quarterly installment payment on which was
due on or before January 15, 1936), through September 30, 1936
(the filing of returns and the full payment or first installment payment
on which was due on or before December 15, 1936); whereas there are
excluded from the statistics in this report, as previously indicated, the
returns for fiscal years ended prior to July, 1935, and subsequent to
June, 1936.
5. Delays in payment due to financial embarrassment, liquidation
of business, or any other cause, result in collections of taxes after the
close of the year in which such taxes are due, and the classification
of such collections as "back taxes" because made in a subsequent
year. For similar reasons, certain amounts are uncollectible.
6. Collections in the current year include such interest and penalty
items as are received in connection with delinquent payments on
returns.
INDUSTRIAL CLASSIFICATION
Corporations are classified industrially according to their predominant business. The industrial groups, therefore, do not contain
solely corporations engaged exclusively in the industries in which they
are classified, because of the diversified activities of many corporations. The industrial classification for 1934 and 1935 is not strictly
comparable with that for prior years, by reason of the discontinuance, under the Revenue Act of 1934, of the privilege of filing consolidated returns, except by railroads. Whereas returns formerly
filed on a consolidated basis were classified according to the predominant business of the consolidated group, the industrial classification
for returns with years ended December 31, 1934, or thereafter, is
based on the predominant business of each company (except in the
case of an affiliated railroad group which exercises the privilege of
filing a consolidated return). Although the present classification is a
purer industrial distribution than was possible for consolidated returns
of affiliated groups of companies in years prior to 1934, it does not
yield a wholly clean-cut separation of industries, because of the varied
activities of particular corporations, already mentioned.
GEOGRAPHIC DISTRIBUTION
The data, although tabulated by the States in which the returns
were filed, do not represent what may be called the geographic distribution of income. There is no way of ascertaining from the
income tax returns the amount of income originating in the respective
States or the amount of tax paid on that basis, since income reported
by a corporation in one State may have been derived from sources in
other States. Returns are filed in the collection district in which the
principal place of business or principal office of the corporation is
located, with the two exceptions that consolidated returns of affiliated
groups of railroad companies are filed in the collection district of the
parent company and that the separate returns of affiliated groups of
companies which formerly filed on a consolidated basis may or may
not be filed in the same collection districts as heretofore. The
geographic distribution of the returns for the years prior to 1934 is,
therefore, not strictly comparable with that for 1934 and 1935.
4
STATISTICS OF INCOME
COMPARABILITY WITH PREVIOUS REPORTS
In various sections of this report reference is made to conditions
affecting the comparability of specific items from year to year, such
as changes in the provisions of the revenue acts under which the
returns for given years are filed. In particular it must be noted that
the data for 1934 and 1935 are not strictly comparable with those for
prior years. The totals as well as the separate items of assets, liabilities, receipts and deductions, the amounts of dividend payments,
gross income, net income and tax, and the classifications of the returns
by industry, geographic location, size of total assets, and returns
with net income and with no net income are all affected by the discontinuance, under the Revenue Act of 1934, of the privilege of filing
consolidated returns, except by railroads. The lack of comparability
of the information for 1934 and 1935 with that published in Statistics
of Income for 1933 and prior years is more fully discussed in Statistics
of Income for 1934, Part 2, Corporation Income and Excess-Profits
Tax Returns and Personal Holding Company Returns, pages 19-29.
INUMBER OF^RETURNS, NET INCOME OR DEFICIT, AND TAX
The number of income tax returns filed by corporations for 1935
was 533,631, as against 528,898 for 1934. Of the total number of
1935 returns, 164,231 show net income, 312,882 no net income, and
56,518 no income data. The returns with net income show an
aggregate net income of $5,164,723,225, income tax of $710,155,678,
excess-profits tax of $24,968,692 (of which $19,584 is reported on
returns with no net income), and total tax of $735,124,370. The
number of returns with net income increased 19,130, or 13.2 percent,
as compared with 1934 returns, and the net income increased $889,525,954, or 20.8 percent. The income tax increased $121,780,313,
or 20.7 percent; the excess-profits tax $17,295,934, or 225.4 percent;
and the total tax $139,076,247, or 23.3 percent. The number of
returns with no net income decreased 11,821, or 3.6 percent, as compared with similar 1934 returns, and the reported deficit of $3,468,773,525 represented a decrease of $712,253,961, or 17.0 percent.
MAJOR INDUSTRIAL GROUPS
The following table, in which returns of corporations are classified
by major industrial groups and by returns with net income, with no
net income, and with no income data, inactive corporations, shows
number of returns, gross income, deductions, net income or deficit,
and tax liability. Basic table 1, pages 32-33, show similar data for
the returns distributed by States and Territories in place of by major
industrial groups.
In analyzing the data compiled from returns classified under the
major industrial group "Finance" and under the industrial subgroup
"Life insurance—Mutual or stock companies," allowance should be
made for the two special deductions from gross income permitted life
insurance companies under paragraphs (2) and (4), subsection (a),
section 203, Revenue Act of 1934, relating to reserve funds required by
law and reserve for dividends. For returns with net income these
STATISTICS OF INCOME
deductions total $36,077,136; for returns with no net income, $695,595,958. In basic tables 3 and 4, pages 40-51 and pages 52-59, respectively, the special deductions for life insurance companies are
included in "other deductions."
Corporations, 1935, by major industrial groups: number of returns, gross income,
deductions, net income or deficit, income tax and excess-profits tax, for returns
with net income and with no net income; also number of inactive corporations1
[Money figures in thousands of dollars]
Returns with net income
Industrial groups
Agriculture and related industries
Mining and quarrying
Manufacturing:
Food and kindred products
Liquors and beverages (alcoholic
and nonalcoholic)
Tobacco products
Textiles and their products
Leather and its manufactures
Rubber products
Forest products
Paper, pulp, and products
Printing, publishing, and allied
industries
Chemicals and allied products
Stone, clay, and glass products. _.
Metal and its products
Manufacturing not elsewhere classifiedTotal manufacturing
Construction
Transportation and other public utilities
Trade
Service—Professional, amusements,
hotels, etc
Finance—Banking, insurance, real
estate, holding companies, stock and
bond brokers, etc
Nature of business not given
Grand total
Total
number of
returns
Number
Percent
of group
total
10,084
18,420
2,321
4,527
13, 375
3,282
387
15, 656
2,415
632
6,843
2,306
12, 912
7,969
3,967
19,856
Gross income 3
Deductions *
23.02
24. 58
358, 965
1,331,854
315,064
1,168, 918
43,901
162,936
5,312
39.72
7,340,434
7,022,763
317,671
1,466
139
6,129
1,090
286
2,384
1,296
44.67
35.92
39.15
45.14
45. 25
34.84
56.20
1,107, 301
1,077, 784
3,861,351
935, 624
671, 861
734, 389
1,165,444
999,477
978, 365
3, 689, 927
887,859
641, 742
696,421
1,073,123
107,824
99,419
171,425
47, 766
30,119
37,968
92,321
4,895
3,156
1,253
8,426
37.91
39. 60
31.59
42.44
1,468,211
4, 545, 732
769,225
10, 652, 872
1,328,174
4,179, 604
680, 530
9, 778, 369
140,037
366,128
88,695
874,503
Net income
6,613
2,144
32.42
1, 083, 382
974,485
108,897
96, 213
37, 976
39.47
35,413, 610
32, 930, 837
2,482, 773
17, 687
4,242
23.98
789, 599
740, 338
49,260
28,437
149,426
10, 600
57, 813
37.28
38.69
6, 520,071
27, 582,955
5, 592, 926
26,815, 528
927,144
767,428
54, 560
13,358
24.48
1,803, 935
1,676,487
127,448
143,843
14, 961
33, 231
163
23.10
1.09
3, 638, 747
1,771
3,035,473
1,212
603,274
533,631
164, 231
30.78
77,441, 506
72, 276, 783
5,164,723
* For general explanations, see pp 1-4.
* Gross income and deductions correspond to total income and total deductions (items 14 and 26, respectively, on face of return) plus, in each instance, cost of goods sold and cost of operations (items 2 and 5 on
face of return). Interest received on Liberty bonds, etc. (item 11 on face of return), has been deducted
from gross income, as this item was not included in gross income for prior years.
3
Includes excess-profits tax of $19,584 on returns with no net income for income tax computation. (See
article l(d), Treasury Decision 4469, "Regulations relating to the excess-profits tax imposed by section
702 of the Revenue Act of 1934.")
* Includes special non-expense deductions of life insurance companies. (See pp. 4-5.)
6
STATISTICS OF INCOME
Corporations, 1935, by major industrial groups: number of returns, gross income,
deductions, net income or deficit, income tax and excess-profits tax, for returns with
net income and with no net income; also number of inactive corporations 1—Con.
[Money figures in thousands of dollars]
Returns with net
income—Continued
Industrial groups
Returns with no net income
Percent
Number of group
total
Income
tax
Agriculture and related industries
_
Mining and quarrying
_
_.
Manufacturing:
Food and kindred products
_..
Liquors and beverages (alcoholic and nonalcoholic)
Tobacco products
_
_._
_.
Textiles and their products
Leather and its manufactures
Rubber products
Forest products
_
Paper, pulp, and products._
Printing, publishing, and allied industries
Chemicals and allied products
Stone, clay, and glass products
Metal and its products
Manufacturing not elsewhere classified
Total manufacturing
...
Construction
Transportation and other public utilities
Trade
Service—Professional, amusements, hotels, etc
Finance—Banking, insurance, real estate, holding
companies, stock and bond brokers, etc
Nature of business not given.
Grand total.,
_.
Excessprofits
tax 3
6,036
22,400
160
515
6,734
9,188
43, 670
1,584
14,826
13,670
23, 570
6,568
4,141
5,221
12,686
19, 255
50, 340
12,196
120, 240
14,973
905
44
1,034
198
323
222
266
463
929
470
8,202
341, 355
6,772
127,580
105,495
17, 514
66.78
49.88
230, 654
1, 292, 853
7,283
54.45
1,988,025
1,481
228
9,254
1,258
312
4,199
938
7,495
4,350
2,524
10, 702
3,676
45.12
58.91
59.11
52.09
49.37
61.36
40. 68
58.05
54.59
63.62
53.90
55.59
216,399
33, 682
2,045, 223
228.436
116, 885
583, 999
326,145
559, 876
2, 882, 520
248.437
2, 902, 219
352, 338
15, 528
53, 700
55.81
12, 484,183
710
1,125
3,311
729
11, 808
14,833
87, 068
36,289
66.76
52.16
58.27
66.51
82,928
77
2,886
91, 702
1,560
63.75
10.43
710,156
24,969
312,882
58.63
Returns with no net
income—Continued
Industrial groups
Deductions *
Agriculture and related industries
Mining and quarrying
Manufacturing:
Food and kindred products
Liquors and beverages (alcoholic and nonalcoholic)__.
Tobacco products
_
Textiles and their products
Leather and its manufactures
Rubber products
Forest products.
..
Paper, pulp, and products..
Printing, publishing, and allied industries
Chemicals and allied products
•__._
Stone, clay, and glass products.._
Metal and its products
Manufacturing not elsewhere classifiedTotal manufacturing
Construction
Transportation and other public utilities.
Trade
Service—Professional, amusements, hotels, etc...
Finance—Banking, insurance, real estate, holding com
panies, stock and bond brokers, etc
Nature of business not given
Grand total
For footnotes, see p. 5.
Gross income2
.
Deficit
36,494, 664
Returns with no income data—Inactive corporations
Percent
Number of group
total
270,907
1,466,733
40,253
173,879
1,029
4,705
10.2a
25.54
2,043,832
232,754
34,903
2,145,481
237,445
123,875
637, 627
358,139
605,854
2,996,851
279,653
3,071,327
382,770
55,807
16,355
1,221
100,258
9,009
53,628
31, 994
45,978
114,331
31,216
169.108
30,433
780
335
20
273
67
34
260
72
522
463
190
728
793
5.83
10.21
5.17
1.74
2.77
5.38
3.80
3.12
4.04
5.81
4.79
3.66
11.99
13,150, 510
666,326
4,537
4.72*
65, 737
572,047
301,252
268, 518
1,637
3,004
4,545
4,913
9.26
10.56
3.04
9.01
18, 910
13,238
13.15
88.48
56,518
10.59
1
6,246,070
12,888
39,963,438
3,468,774
i
STATISTICS OF INCOME
N E T INCOME AND D E F I C I T CLASSES
The following table shows for corporation returns, by net income
and deficit classes, the number of returns, net income or deficit,
income tax, excess-profits tax, and percentages; also the number of
returns filed for inactive corporations showing no income data.
Corporations, 1935, by net income and deficit classes: number of returns, net income
or deficit, income tax, excess-profits tax, and percentages, for returns with net
income and no net income; also number of inactive corporations
[Net income and deficit classes and money figures in thousands of dollars]
Returns with net income
Net income classes
Number Percent
Under 1
1-2
2-3
3-4
4-5
5-10
10-15
15-20
20-25
25-50
50-100
100-250
.
250-500
500-1,000 .
1,000-5,000
5,000-10,000
Net income
Returns
Excess-profits tax
Income tax
Percent Amount Percent Amount Percent
Amount
10,000 and over
Excess-profits tax on returns 1 with no net income .
Total _
41.65
12.16
7.30
4.76
3.48
9.75
4.76
2.83
2.00
4.60
2.95
2.10
.81
.42
.36
.04
.03
22,692
28, 820
29, 517
27,097
25, 552
114, 074
95, 733
80, 779
73, 201
266, 200
339, 824
532, 638
464,391
485, 093
1,166, 034
509, 295
903, 782
0.44
.56
.57
.52
.49
2.21
1.85
1.57
1.42
5.16
6.58
10.31
8.99
9.39
22.58
9.86
17.50
3,119
3,960
4,057
3,722
3,512
15, 668
13, 159
11,100
10, 049
36, 581
46, 703
73, 240
63, 858
66,712
160, 418
70, 028
124, 270
0.44
.56
.57
.53
.49
2.21
1.85
1.56
1.42
5.15
6.58
10.31
8.99
9.39
22.59
9.86
17.50
66
112
125
136
135
655
574
511
414
1,654
2,053
3,243
2,468
2,092
3,600
1,920
5,190
20
.08
164, 231
.
68, 392
19,971
11,995
7,820
5,715
16, 014
7,818
4,653
3,280
7,547
4,840
3,445
1,335
696
597
71
42
100. 00
5,164, 723
100. 00
710, 156
100.00
24,969
100.00
0.26
.45
.50
.54
.54
2.62
2.30
2.05
1.66
6.63
8.22
12.99
9.88
8.38
14.42
7.69
20.79
Returns with no net income
Deficit classes
Deficit
Returns
Amount
Percent
Number
Under 1
1-2.
2-3
3-4
4-5.
5-10
10-15
15-20
20-25
25-50
50-100
100-250
250-500..
500-1,000
1,000-^,000
5,000-10,000
..
.
_.
10,000 and over
Total..
Returns with no income data—Inactive corporations
.
.
.
Percent
164,179
43,106
23,492
14,579
10,093
23,682
9,636
5,271
3,406
7,369
3,952
2,466
812
429
356
32
22
52.47
13.79
7.50
4.66
3.23
7.56
3.08
1.68
1.09
2.36
1.26
.79
.26
.14
.11
.01
.01
51,841
62,247
57,742
60,578
45, 217
166, 531
117, 556
90,821
76,081
255,803
274, 521
373, 603
280,113
293,646
711,673
219, 798
341, 003
1.49
1.79
1.66
1.46
1.30
4.80
3.39
2.62
2.19
7.S7
7.92
10.77
8.08
8.47
20.52
6.34
9.83
312,882
100.00
3,468,774
100.00
56,518
i See article l(d), Treasury Decision 4469, "Regulations relating to the excess-profits tax imposed by
section 702 of the Revenue Act of 1934."
8
STATISTICS OF INCOME
INCOME AND PROFITS TAXES PAID TO FOREIGN COUNTRIES OR POSSESSIONS OF
THE UNITED STATES REPORTED AS A TAX CREDIT
That portion of the income and profits taxes paid foreign countries
or possessions of the United States which was reported for tax credit
by domestic corporations for the years 1925 through 1935 is shown
below. These amounts, although tax credits, are not deducted from
the income tax liability shown in the tables in this report (see paragraph numbered 2, p. 2). The amounts of the income and profits
taxes paid to foreign countries or United States possessions which
were reported in deductions from gross income are not tabulated
separately but are included in the item "taxes paid other than income
tax
-"
The Revenue Act of 1934 provides that a domestic corporation may
credit income and profits taxes paid to foreign countries or United
States possessions against its income tax liability to the United
States or may include such taxes in deductions from gross income.
When used as a credit, the amount can not exceed the proportion of
the total tax against which the credit is taken that the taxpayer's
net income from sources without the United States bears to the taxpayer's entire net income; but when reported in deductions from
gross income, the total amount of such foreign taxes may be included.
For limitations under the various revenue acts affecting the tax
credit or the deduction from gross income of income and profits
taxes paid to foreign countries or United States possessions, see
page 103 in the section of this report entitled "Revenue Acts of 19131934 and certain tax provisions of the National Industrial Recovery
Act (1933); also the special excise tax under the Act of August 5, 1909."
Corporations, 1925-1935: income and profits taxes paid foreign countries or United
States possessions reported as a tax credit
Year:
1925
1926
1927
1928
1929
1930
Amount
$20,139,995
21, 653, 994
24, 236, 955
32, 487, 634
35, 221, 708
29, 138, 867
Year:
1931
1932
1933
1934
1935
Amount
$18,975,743
i 7, 275, 029
18, 640, 265
28, 428, 351
32, 204, 227
i Revised figures. See Statistics of Income for 1933, p. 37.
DIVIDENDS PAID
Dividends paid on the capital stock of domestic corporations, as
reported on the corporation income tax returns for 1935, are: cash
$5,940,620,077, and stock $135,851,394. Cash dividends paid increased from 1934 by $1,081,240,669, or 22.3 percent, and stock
dividend payments decreased by $78,911,375, or 36.7 percent.
Amounts specifically designated as stock dividends in item 15 on
schedule L, Form 1120, are tabulated as such. All other dividends
(except liquidating) are tabulated as cash dividends, with the result
that the latter include dividends paid in other property as well as in
cash.
In basic table 1, pages 32-33, the cash and stock dividend payments are exhibited by States for returns with net income and with
no net income; in basic table 3, pages 40-51, they are recorded by
9
STATISTICS OF INCOME
major industrial groups for returns in the aggregate as well as for
those with net income and with no net income; and in basic table 5,
pages 60-65, the amounts reported on returns with balance sheets,
grouped by size of total assets, are likewise shown in the aggregate
and for the same two subclasses of returns. Cash and stock dividends
paid by all corporations, and by corporations with net income and
with no net income, for the years 1922 through 1935, are as follows:
Corporations, 1922-1985: cash and stock dividends paid 1
[Thousands of dollars]
Aggregate
Returns with net
income
Returns with no net
income
Year
Cash
dividends
L922
1923
1924
1925
1926
1927
1928
1929
1930 .
1931
1932
1933
1034
1935
-_
.
- . -
Stock
dividends
Cash
dividends
Stock
dividends
3,436.715 3, 348,050 3,182, 870 3,166, 916
4,169,118
891, 286 3, 820, 620
787,167
4, 338, 823
510, 526 3, 994, 991
466, 820
5,189.475
544,431
4, 817, 301
502, 490
5, 945, 293
757, 650 5, 530, 211
716,219
2 6,423,176 2 702. 501 2 5, 785, 476 2 642,178
2 7, 082, 723
550,128 2 6, 594,169
509,853
2 8, 519, 812 1, 288, 643 2 8, 005, 952 1,193, 896
2 8,184, 241
414,180 2 6. 823,050
250, 499
6,151,082
163, 530 3, 871, 880
77, 887
3, 885, 601
143, 076 2, 320, 386
89, 955
3,127,459
102, 043 2 2, 385, 889
80,450
2 4 95a 379
214. 763 3, 822, 599
173,419
135, 851 4, 651, 002
5, 940, 620
112,162
Cash
Stock
dividends dividends
253,845
348,498
343, 832
372,173
415,082
2
637, 701
488, 554
513, 860
1, 361,191
2, 279, 203
1,565,215
741,570
1, 036, 781
1, 289, 618
181,134
104,118
43, 706
41,9421
41,430
60,323
40, 275
94, 747
163, 681
85, 644
53,122
21, 593
41. 344
23, 689
For statement of the effect on dividend payments of the discontinuance of the privilege of filing consolidated returns under the
Revenue Act of 1934, see Statistics of Income for 1934, Part 2, Corporation Income and Excess-Profits Tax Returns and Personal Holding Company Returns, page 10.
COMPILED RECEIPTS AND COMPILED DEDUCTIONS
In the table on page 11 there appears a summary of compiled
receipts and compiled deductions for the 477,113 returns of active
corporations, with segregation of those submitting and those not
submitting balance sheets. Similar statistics for all active corporations without this segregation, by major industrial groups and by
returns with net income and with no net income, are presented in
basic table 3, pages 40-51. For returns with balance sheets, the
same information is given by major industrial groups in basic table 4,
and by assets classes in basic table 5, except that in table 4 the figures
for corporations with net income and with no net income are not
combined. The tables show also compiled net profit (or compiled
net loss), net income or deficit, income tax, excess-profits tax, total
tax, and compiled net profit after deducting total tax.
10
STATISTICS OF INCOME
Compiled receipts comprise gross sales, gross receipts from operations (where inventories are not an income-determining factor), taxable interest received, net gain from sale of capital assets (real estate,
stocks, bonds, etc.), other items grouped as "other receipts," and taxexempt income items of major importance (dividends received on
capital stock of domestic corporations and interest on tax-exempt
obligations). Compiled receipts differ from gross income, as the two
terms are used in this report, only by the amount of the tax-exempt
interest included in the former item.
Compiled deductions comprise cost of goods sold, cost of operations,
•compensation of officers, rent paid on business property, interest paid,
taxes paid (excepting income tax and other disallowed taxes), bad
debts, depreciation, depletion, net loss from the sale of capital assets
(real estate, stocks, bonds, etc.), and items not classified, including
amounts of negative income (i. e., transfers of losses reported under
Income items) grouped as "other deductions." Compiled deductions
differ from deductions, as the two terms are used in this report, only
by the amount of dividends received on stock of domestic corporations
excluded from the former item.
Compiled net profit is the excess of compiled receipts over compiled
deductions, and is larger than net income, as the term is used in this
report, by the amount of tax-exempt interest and dividends received
on stock of domestic corporations. Compiled net loss is the excess of
compiled deductions over compiled receipts and is smaller than deficit,
as the term is used in this report, by the amount of tax-exempt interest
and dividends received on stock of domestic corporations.
The amounts tabulated as "cost of goods sold" and "cost of operations" (items 2 and 5, respectively, on the face of the return) include
salaries and wages, taxes, and depreciation only to the extent that these
deductions are reported as part of such costs. Amounts of these items
which may be allocable to "cost of goods sold" or to "cost of operations"
but which are reported elsewhere on the returns are tabulated under
"other deductions," in the case of salaries and wages, and under taxes
paid or depreciation in the case of the other two items. If any deduction items other than these three are reported in "cost of goods sold"
or "cost of operations," adjustment is made, and the items are transferred to their appropriate classifications.
The deduction item "compensation of officers" excludes the amounts
paid to the officers of life insurance companies which file Form 1120L.
There is no provision on Form 1120L for reporting this item, and from
the annual statement submitted with the return it is not possible to
obtain the compensation of officers separately.
The net loss from sales of capital assets is limited by law to an
amount not in excess of $2,000, after deduction of the gain from such
sales. The definition of capital assets, the limitation on net capital
loss, and the corporations which are exempt from this limitation,
effective for returns with years ended December 31, 1934, and thereafter,
are indicated in the section of this report entitled "Revenue Acts of
1913-1934 and certain tax provisions of the National Industrial
Recovery Act (1933); also the special excise tax under the Act of
August 5, 1909," page 104, footnote 5(c).
11
STATISTICS OF INCOME
Corporations, 1985: number of returns, compiled receipts and compiled deductions,
compiled net profit or net loss, net income or deficit^ income tax, excess-profits tax,
total tax, and dividends paid, for returns in the aggregate and for those submitting
and not submitting balance sheets
[Money figures in thousands of dollars]
Aggregate
Number of returns
CorporaCorporations tions not
submitting submitting
balance
balance
sheets
sheets
477,113
Receipts, taxable income:
Gross sales i
_
Gross receipts from operations 2_
Interest
_
Rents
Net capital gain
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations 3___
Total compiled receipts 4
415,205
61,908
85,331,621
19, 789, 605
2, 566, 032
1, 643,129
469, 908
1,122, 288
83,878,828
19, 005,169
2, 503, 971
1, 545, 627
452,336
1,096,424
1,452,793
784, 436
62,061
97,502
17,573
25,864
3,013, 587
713,546
2,917,244
698,897
96, 344
14,649
114, 649, 717
112,098,495
2, 551, 222
Deductions:
Cost of goods sold «
Cost of operations 6
Compensation of officers 7
._.
Rent paid on business property
Interest paid
Taxes paid other than income tax 8
Bad debts
__
Depreciation
Depletion
__
Net capital loss 9
Other deductions
66, 279,468
9,190, 349
2, 344, 955
1, 542, 056
3, 260, 905
2, 627, 719
964, 984
3, 351, 724
349,184
238, 969
19,076, 321
65, 061, 564
8,864, 467
2, 266, 969
1,488, 725
3,160,039
2, 561,438
928, 066
3, 273, 223
337, 821
179, 276
18, 477, 309
1, 217,905
325, 882
77, 986
53, 331
100,866
66, 281
36, 918
78, 501
11,363
59, 693
599, 012
Total compiled deductions
109, 226, 634
106, 598, 894
2, 627, 739
Compiled net profit or net loss
Net income or deficit
Income tax
Excess-profits tax
Total tax
Compiled net profit less total tax
Cash dividends paid
Stock dividends paid
_
5, 423, 083
1, 695, 950
710,156
24, 969
735,124
4, 687, 959
5, 940, 620
135,851
5, 499, 601
1, 883, 460
696, 958
24, 583
721, 541
4, 778, 059
5,895, 675
135, 030
io 76, 517
io 187, 510
13,198
385
13, 583
n 90,101
44, 945
822
_„_
1 Gross sales where inventories are an income-determining factor. For "cost of goods sold," see "deduc tions."
2
Gross receipts from operations where inventories are not an income-determining factor. For "cost of
operations," see "deductions."
3
Includes obligations of States and Territories, or political subdivisions thereof, obligations of instrumentalities of the United States, and obligations of the United States or its possessions.
4
Excludes nontaxable income, other than interest on tax-exempt obligations and dividends on stock of
domestic corporations as reported in schedule L of the return.
5 Includes taxes reported in "cost of goods sold." For method of tabulation see p. 10.
«Includes taxes reported in "cost of operations." For method of tabulation see p. 10.
7
Excludes compensation of officers of life insurance companies which file Form 1120L.
8
Excludes taxes reported in "cost of goods sold" and "cost of operations."
9
For limitation on amount of net capital loss that may be reported, see section of this report entitled
"Revenue Acts of 1913-1934 and certain tax provisions of the National Industrial Recovery Act (1933);
also the special excise tax under the Act of August 5, 1909," p. 104, footnote 5(c).
1 Compiled net loss or deficit.
0
u Compiled net loss plus total tax.
ASSETS AND LIABILITIES
In the first and second following tables are shown respectively: (1)
A summary statement of the principal assets and liabilities as of
December 31, 1935, or the close of the fiscal year nearest thereto for
415,205 out of 477,113 returns of active corporations; and (2) the
number of returns and the number of balance sheets tabulated, by net
income and deficit classes. The difference between the number of
12
STATISTICS OF INCOME
returns and the number of balance sheets tabulated represents returns
of corporations which did not submit balance sheets, or for which
data were fragmentary. In basic table 4, pages 52-59, the principal assets and liabilities are shown by major industrial groups.
This table also includes items of compiled receipts and compiled deductions for active corporations which submitted balance sheets.
For descriptive statement of compiled receipts and compiled deductions, see pages 9-10.
Corporations submitting balance sheets, 1935: number of returns, assets and liabili*
ties as of December 31, 1935, or close of fiscal year nearest thereto, for returns in,
the aggregate and for those with net income and with no net income l
[Moneyfiguresin thousands of dollars]
Aggregate
Number of returns with balance sheets
Assets:
Cash (in till and deposits in banks)
Notes receivable and accounts receivable (less reserve for
bad debts).
_
415,205
_
_
Total capital stock
Surplus and undivided profits.
Less deficit
Net surplus
Totalli abilities
_
262,130>
8, 961,115
14, 703, 377
38,690,461
14, 788,391
17, 413,103
10, 205,024
21,277, 358
4, 583,367
,
16,826,517
29, 519, 092
60,644,052:
100, 479, 871
13, 500, 630
45, 386, 789
5, 785, 273
55,093,082
7, 715, 357"
122, 307,120
180,843, 111
11, 632, 338
16, 623, 599
17, 857,404
13, 699, 354
33,198, 296
71, 208,104
19, 533,151
82, 732,838
_
5,036, 723
90,163,144
303,150, 231
_
21,863,241
25, 331, 692
49,821,895
89, 065, 508
_
Liabilities:
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Capital stock:
PreferredCommon
153, 075
23,664,493
_
Inventories
Tax-exempt investments—Obligations of States and Territories or political subdivisions, obligations of instrumentalities of the United States, and obligations of the
United States or its possessions
Investments, other than tax-exempt—Stocks, bonds, mortgages, loans, real estate, etc
Capital assets—Land, buildings, equipment, etc. including depletable assets (less reserves for depreciation and
depletion)..
Other assets
Total assets
Returns
with no
net
income
Returns
with net
income
9, 012, 769
41,377, 226
10,520, 381
41, 355, 612
102, 265, 989
50,389, 996
51, 875,993
48,828.065
12,162,918
27,315,494
1,511,711
21, 512, 571
10,651, 207
36, 665,147
25,803, 783
10,861,364
303,150, 231
122,307,120
180,843, 111
* Excludes returns for inactive corporations and returns with fragmentary balance sheet data.
13
STATISTICS OF INCOME
Corporations, 19S5, by net income and deficit classes: number of returns and number
of balance sheets, for returns with net income and with no net income
Returns with net income
Net income and deficit classes
(Thousands of dollars)
Under 1
Number
of
returns
Returns with no net income
Number Percent of Number
of
balance
of
balance sheets to returns
sheets
returns
Number Percent of
of
balance
balance sheets to
returns
sheets
68, 392
19,971
11,995
7,820
5,715
16, 014
7,818
4, 653
3,280
7,547
4,840
3,445
1,335
696
597
71
42
1-2...
2-3
3-4
4-5
5-10
10-15
15-20
20-25
25-50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000 and over-
Total
Returns with no income data—Inactive
corporations
60,618
18, 844
11, 471
7,513
5,507
15, 562
7,648
4,550
3,211
7,387
4,731
3,350
1,302
682
588
69
42
88.63
94.36
95. 63
96.07
96.36
97.18
97.83
97.79
97.90
97.88
97.75
97.24
97.53
97. 99
98.49
97. 18
100. 00
164,179
43,106
23, 492
14, 579
10, 093
23, 682
9,636
5,271
3,406
7,369
3,952
2,466
812
429
356
32
22
130,477
36, 612
20, 530
12,948
9,013
21, 551
8,846
4,831
3,126
6,792
3,639
2,249
745
394
326
31
20
79.47
84.93
87.39
88.81
89.30
91.00
91.80
91.65
91.78
92.17
92.08
91.20
91.75
91.84
91.57
96.88
90.91
164,231
153,075
93.21
312, 882
262,130
83.78
56, 518
Balance sheet items not otherwise classified are tabulated under
"other assets" and "other liabilities," among which are the following:
Other assets.—Copyrights; formulas; good will; patents; trade
marks; sinking funds; other funds; deferred charges; organization
expenses; prepaid and suspense items; interest, discount, coupons,
and dividends receivable; guaranty deposits, and deposits on contracts, meters, and leaseholds; cash value of life insurance. Other
assets of life insurance companies include market value of real estate
and bonds in excess of book value; interest, rents, and premiums due;
and agents' balances.
Other liabilities.—Deferred and suspense items; funds held in trust;
borrowed securities; outstanding coupons and certificates; overdrafts;
and all reserves except reserves for bad debts, depreciation, and depletion. Other liabilities of life insurance companies include the net
value of outstanding policies and securities, and borrowed money.
Other liabilities of banks include deposits (time, saving, demand,
etc.) and bank notes in circulation.
The following changes in classification affect the comparability of
asset and liability data over a period of years: Prior to 1929, "investments other than tax-exempt" were included in "other assets" for all
corporations; beginning with 1929 they were segregated for corporations other than life insurance; for 1930 and subsequent years, they
are segregated for all corporations. Over a period of years shifts
appear under liabilities in the amounts reported as "common stock"
and "preferred stock," because of variation in reporting these data.
For balance sheets in which common and preferred stock are not
reported separately, the combined amount is tabulated as "common
stock." For balance sheets reporting no par stock and not reporting
capital stock value, the net worth is tabulated under "surplus and
undivided profits."
78019—38
2
14
STATISTICS OF INCOME
The following table presents, by major industrial groups, the gross
capital assets, reserves for depreciation and depletion (except on
land), and net capital assets, secured by taking the difference between
these two. Gross capital assets include (1) depreciable and depletable
assets (buildings, machinery and equipment, furniture and fixtures,
delivery equipment and natural resources) and (2) land. Attention is
directed to the fact that the amounts of money in this table are in
millions of dollars.
Corporations submitting balance sheets, 1935', by major industrial groups: gross
capital assets, reserves for depreciation and depletion, and net capital assets, for
returns in the aggregate and for those with net income and with no net income
[Millions of dollars]
Aggregate
Industrial groups
Agriculture and related industries
Mining and quarrying.
Manufacturing:
Food and kindred products
Liquors and beverages (alcoholic
and nonalcoholic)
_
Tobacco products
__
Textiles and their products
Leather and its manufactures
Rubber products
Forest products
Paper, pulp, and products
Printing, publishing, and allied
industries.
Chemicals and allied products
Stone, clay, and glass products
Metal and its products
..
Manufacturing not elsewhere
classified
Total manufacturing
Construction _
Transportation and other public
utilities
Trade
Service—Professional, amusements,
hotels, etc
Finance—Banking, insurance, real
estate, holding companies, stock
and bond brokers, etc
Nature of business not given.
Grand total
For footnotes, see p. 15
Returns with net income
Gross
capital
assets*
Reserves
for depreciation
and
depletion
(except on
land)
1,565
9,966
337
4,052
1,229
5,914
648
3,608
180
1,576
468
2,032
3,574
1,410
2,164
2,521
1,003
1,518
645
155
3,379
303
474
1,688
1,685
166
72
1,572
140
227
586
711
479
82
1,807
163
248
1,101
974
466
142
1,835
231
350
684
1,165
128
67
835
107
170
239
485
339
76
1,000
124
180
445
679
1,199
8,335
1,642
U, 796
528
3,890
663
5,117
671
4,444
979
6,679
805
4,385
827
6,941
356
2,007
334
3,084
449
2,378
493
3,857
Net
capital
assets3
Gross
capital
assets l
Reserves
for depreciation
and
depletion
(except on
land)
Net
capital
assets J
803
364
439
508
226
282
35, 677
15,446
20, 231
20,861
9,041
11,819
848
363
485
319
146
174
57,805
5,624
8,224
1,961
49, 581
3,662
29, 054
3,508
4,945
1,220
24,109
2,288
7,633
1,601
6,033
1,737
467
1,271
15, 253
42
1,933
16
13, 320
26
3,841
14
620
9
3,221
6
134,414
33, 934
100,480
63, 590
18, 203
45,387
15
STATISTICS OF INCOME
^Corporations submitting balance sheets, 1985, by major industrial groups: gross
capital assets, reserves for depreciation and depletion, and net capital assets, for
returns in the aggregate and for those with net income and with no net income—
Continued
[Millions of dollars]
Returns with no net income
Gross
capital
assets i
Reserves
for depreciation
and
depletion
(except on
land)
_.
917
6,359
157
2,476
_
1,053
178
12
1,544
72
124
1,004
520
394
3,949
815
4,855
294
738
33
56
347
225
172
1,888
329
2, 033
138
646
140
7
806
39
68
657
295
222
2,066
486
2,822
157
14,816
6,405
8,411
529
28, 751
2,116
5,896
217
3,279
741
1,134
311
25,472
1,375
4,762
11,412
28
1,313
10,099
20
70,824
15, 731
55, 093
Industrial groups
Agriculture and related industries
Mining and quarrying
_
Manufacturing:
Food and kindred products
._
Liquors and beverages (alcoholic and nonalcoholic)
Tobacco products
Textiles and their products
Leather and its manufactures
Rubber products
'___
Forest products
Paper, pulp, a n d products
Printing, publishing, and allied industries
__
Chemicals and allied p r o d u c t s .
Stone, clay, and glass products.
M e t a l nd its products
Manufacturing not elsewhere classified
„
_
T o t a l manufacturing
Construction
Transportation a n d other public utilities
_
Trade
Service—Professional, amusements, hotels', etc
Finance—Banking, insurance, real estate, holding companies, stock
and bond brokers, etc
N a t u r e of business not given
Grand total
Net
capital
assets 2
760
1
Includes (1) depreciable and depletable assets (buildings, machinery arid equipment, furniture and
fixtures, delivery equipment, and natural resources) and (2) land.
2
Net capital assets are also tabulated in text table on p . 12 and in basic tables 4, 5, and 6.
ASSETS A N D L I A B I L I T I E S , C O M P I L E D R E C E I P T S A N D C O M P I L E D D E D U C T I O N S BY
T O T A L A S S E T S CLASSES
For corporations submitting balance sheets, classified by total
assets classes, the following table shows for all returns and for returns
with net income and with no net income, the number of returns,
total assets as of December 31, 1935, or the close of the fiscal year
nearest thereto, total compiled receipts, compiled net profit or net
loss, and net income or deficit. In basic table 5 there is shown, in
addition, the principal assets and liabilities and the principal items of
compiled receipts and compiled deductions. In basic table 6 selected
items of the same character are presented for corporations submitting
balance sheets, further classified by major industrial groups.
16
STATISTICS OF INCOME
These data are compiled from 415,205 returns filed by corporations
that submitted balance sheets. The difference between this number
and 477,205 active corporations represents returns of corporations
that did not submit balance sheets, or for which balance sheet data
were fragmentary. In connection with the classification of corporation
data by size of total assets, attention is directed to the fact that the
balance sheet form "Schedule K" of the corporation income tax
return (facsimile on pp. 110-115) provides that reserves for depreciation
and depletion of capital assets be deducted from the gross amount of
capital assets and also that reserves for bad debts be deducted from
the gross amount of accounts receivable. For a descriptive statement
of assets and liabilities, see pages 11-14, and of compiled receipts
and compiled deductions, see pages 9-10.
Corporations submitting balance sheets, 1935, by total assets classes: number of
returns, total assets, total compiled receipts, compiled net profit or net loss, and net
income or deficit, for returns in the aggregate and for those with net income and
with no net income
[Total assets classes and money figures in thousands of dollars]
Total assets classes
Number Total assets- Total compiled reof returns Total liabil
ceipts 1
ities
Compiled Net income
net profit
or net loss 2 or deficit
Aggregate
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50.000
50,000 and over
Total..
227, 545
58,434
58, 208
28, 605
18,102
18,407
2,769
2, 3P3
742
415,
205
4,130,934
4,160,989
9, 204,107
10, 076,113
12, 704, 713
38, 297, 987
19, 342,155
49, 079, 927
156,153, 305
303,150, 231
9, 364, 331
6,089,372
9,687,711
7, 887, 888
8, 014, 278
18, 445, 860
7, 433, 950
16, 385, 542
28, 789, 563
112,098,495
3 183,356
3 9, 787
71,617
131,631
178,168
673, 773
342, 862
1,201, 663
3,093,030
5,499,601
3
189,386
3 15, 505
47,420
92,165
109,264
332,102
155, 074
605, 230
747, 095
1,883,460
Bet urns with net income
Under 50
50-100
100-250
250-500
500-1.000
1,000-5,000
5,000-10,000
10,000-50,000...
50,000 and over
69,714
24,953
26,138
13,058
8,255
8,232
1,241
1,156
328
1,490, 561
1, 781,179
4,152, 755
4, 599,136
5, 776, 595
17, 077, 203
8, 691,127
24,018,453
54, 720,110
Total....
153,075
122,307,120
4, 302, 727
115,466
3, 750, 602
121,534
6, 561, 740
277, 315
5,651,414
300,102
5, 749,153
371,836
13,798,515
1,064,530
5, 484,442
494,953
12,171,429
1 363,826
,
18,926,171
2, 606, 053
113,602
119, 038
267,181
281, 569
340, 696
917, 560
412,160
1,077, 725
1,539,145
76, 396,194
5, 068, 676
6 715, 614
,
Returns with no net income
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000-..
50,000 a n d over
157,831
33,481
32,070
15,547
9,847
10,175
1,528
1,237
414
2, 640, 373
2,379,810
5,051,352
5,476, 977
6,928,118
21, 220,784
10, 651,028
25,061,474
101.433,195
Total....
262,130
180,843,111
5,061,603
2,338, 771
3,125, S71
2, 236,473
2, 265.125
4, 647,345
1,949, 508
4,214,113
9,863.392
3 298,822
3 131,321
3 205, 698
3
168, 471
3 193, 668
3 390, 757
3 152,091
» 162,163
486,978
3 302,988
3
134, 5433
219, 761
3 189,4033
231,433
3
585,458
3 257, 086.
8
472,495
3 792, 050
35, 702,301 31, 216,014
3 3,185. 216
i See footnote 4, p. 11.
* Compiled net profit or loss is the difference between total compiled receipts and total compiled deductions.
1
Compiled net loss or deficit.
17
STATISTICS OF INCOME
CONSOLIDATED RETURNS OF RAILROADS
The privilege of filing consolidated returns, limited by the Revenue
Act of 1934 (for taxable years ended December 31, 1934, and thereafter) to affiliated groups of railroad corporations, was exercised for
1935 by 63 such groups. On consolidated returns the income tax
rate is 15% percent.
According to section 141 (d) of the Revenue Act of 1934, an affiliated
group, which has the privilege of filing a consolidated returns, means
one or more chains of corporations connected through stock ownership
with a common parent corporation if—(1) at least 95 percent of the
stock of each of the corporations (except the common parent corporation) is owned directly by one or more of the other corporations; and
(2) the common parent corporation owns directly at least 95 percent
of the stock of at least one of the other corporations; and (3) each of
the corporations is either (A) a corporation whose principal business
is that of a common carrier by railroad or (B) a corporation the assets
of which consist principally of stock in such corporations and which
does not itself operate a business other than that of a common carrier
by railroad. The term "common carrier by railroad'' includes steam
and electric railroads but excludes street, suburban, and interurban
railways, and express, refrigerator, and sleeping car companies. Thus,
the consolidated returns do not include hotels, coal mines, and other
extraneous corporations which are owned by railroads, since under the
law, separate returns must be filed for each of these corporations.
In the first following table there appears, for the 63 consolidated
returns, a summary of compiled receipts and compiled deductions,
compiled net profit or net loss, net income or deficit, income tax,
excess-profits tax, total tax, compiled net profit less total tax, and
dividends paid, classified by returns with net income and with no
net income. Assets and liabilities are shown in the second following
table for the 62 consolidated returns submitting balance sheets.
The consolidated returns of railroads, which are all calendar year
returns, are included in the text tables (except those for fiscal year
returns and part year returns) and in all the basic tables in this report.
Consolidated returns of railroad corporations, 1935: number of returns, compiled
receipts and compiled deductions, compiled net profit or net loss, net income or
deficit, income tax, excess-profits tax, total tax, and dividends paid, for returns in
the aggregate and for those with net income and with no net income
[Money figures in thousands of dollars]
Aggregate
Number of returns
Returns
Returns
with no net
with
net income income
63
Receipts, taxable income:
Gross sales l
._
__
Gross receipts from operations 2
Interest
Rents .
_.
Net capital gain
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations 3
Tota^ compiled receipts *
1 See footnote 1, p. 11.
2 See footnote 2, p. 11.
9
54
2, 253, 519
32,402
14,049
2,072
7,742
322,943
13,193
1,571
75
239
1,930, 577
19, 209
12,478
1,997
7,504
56, 534
3,116
14,337
1,491
42,197
1,625
% 369,434
353,848
2,015, 586
.
3 See footnote 3, p. 11.
< See footnote 4, p. 11.
18
STATISTICS OF INCOME
Consolidated returns of railroad corporations, 1935: number of returns, compiled
receipts and compiled deductions, compiled net profit or net loss, net income or
deficit, income tax, excess-profits tax, total tax, and dividends paid, for returns in
the aggregate and for those with net income and with no net income—Continued
[Money figures in thousands of dollars]
Aggregate
Deductions:
Cost of goods sold 8
Cost of operations 6
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax t
Bad debts
Depreciation
Depletion
Net capital loss 8
_
Other deductions.
__
Returns
Returns
with
with no net
net income income
1,554,618
3,806
6,553
383, 974
142. 213
5,422
96, 200
159
151
328,547
207,035
575
498
43,486
22, 972
1.330
19,697
79
Total compiled deductions..
2, 521, 644
332, 598
2,189,046
Compiled net profit or net loss
Net income or deficit
Income tax
Excess-profits tax B
Total tax
Compiled net profit less total tax.
Cash dividends paid
Stocks dividends paid
10 152,210
io 211,860
854
16
870
H 153,080
45, 384
21, 250
5,422
854
8
862
20,388
30,880
io 173,460
io 217, 281
36,926
1,347, 583
3,231
6,056
340, 488
119,241
4,093
76, 503
80
151
291, 621
8
8
173,468.
14, 504
' See footnote 5, p. 11.
See footnote 6, p. 11.
See footnote 8, p. 11.
See footnote 9, p. 11.
• Includes excess-profits tax of $8,254 on returns with no net income for income tax computation. (Seearticle 1 (d) of Treasury Decision 4469, "Regulations relating to the excess-profits tax imposed by section 702"
of the Revenue Act of 1934.") A separate excess-profits tax return is required to be filed for the common
parent and for each subsidiary in the affiliated groups of railroad corporations.
10
Compiled net loss or deficit.
" Compiled net loss plus total tax.
8
7
8
Consolidated returns of railroad corporations submitting balance sheets, 1935:
number of returns, assets and liabilities as of December 31, 1935, or close of fiscal
year nearest thereto, for returns in the aggregate and for those with net income and
with no net income
[Money figures in thousands of dollars]
Assets and liabilities
Number of returns with balance sheets
Aggregate
62
Assets:^
Cash (in till and deposits in banks)
_.
217,626
Notes receivable and accounts receivable (less reserve for bad
258,169
debts)
_
157,400
Inventories..
Tax-exempt investments—Obligations of States and Territories
or political subdivisions, obligations of instrumentalities of
the United States and obligations of the United States and
its possessions
213
Investments other than tax-exempt—Stocks, bonds, mortgages,
loans, real estate, etc
2,857,283
Capital assets—Land, buildings, equipment, etc., including
depletable assets (less reserves for depreciation and depletion). 14,109,100
429,024
Other assets
Total assets
18,028,816
Returns
with net
income
9
Returns
with no
net income
sa
64,887
152,739-
12,819
38,114
245,350
119,28^
8
205
317,693
2,539,590
2,093,680
29,652
12,015,420
399,373
2,556,852
15,471,964
19
STATISTICS OF INCOME
Consolidated returns of railroad corporations submitting balance sheets, 1935:
number of returns, assets and liabilities as of December 31, 1935, or close of fiscal
year nearest thereto, for returns in the aggregate and for those with net income
and with no net income—Continued
[Money figures in thousands of dollars]
Aggregate
Assets and liabilities
Liabilities: *
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Capital stock:
Preferred
Common
_
_
_
Returns
with net
income
Returns
with no
net income
865,297
8,238,145
1,485,115
631, 252
4, 671, 257
Total capital stock
Surplus and undivided profits._
Less deficit
Net surplus.
110,065
670,872
521,187
4,000,384
780,937
4, 521, 571
2, 616, 701
478,951
. . -.
851,775
7,403,889
1,373,716
5, 302, 509
.
13,522
834, 256
111,399
816, 738
1,799,963
478,951
2,137, 750
816, 738
1,321,012
18,028,816
Total liabilities
2, 556,852
15,471,964
i See text, pp. 11-15.
FISCAL YEAR RETURNS
Fiscal year returns are filed by corporations whose fiscal year is
other than the calendar year. These returns are included in all basic
tables in this report and in all text tables except those restricted to
part-year returns and to consolidated returns in which categories no
fiscal year return was filed. The tabulations include all fiscal year
returns with year ended within the period July, 1935, through June,
1936, that were received by the Statistical Section prior to the final
tabulation of the Statistics of Income data.
The number of returns, net income or deficit, income tax and excessprofits tax are tabulated for fiscal year returns with net income and
with no net income. In the first following table these data are classified by the month in which the fiscal year ended, and in the second
following table by the size of the net income or deficit.
Fiscal year returns of corporations, 1935, by month in which fiscal year ended:
number of returns, net income, or deficit, income tax, and excess-profits tax, for
returns with net income and with no net income
[Money figures in thousands of dollars]
Fiscal year ended
July 1935
August 1935
September 1935.
October 1935
November 1935_.
January 1936
February 1936___
March 1936
April 1936
May 1936
June 1936
Total.
1
Returns with no
net income
Returns with net income
Total
number
of returns
Number
4,916
5,364
5,767
5,475
5,317
8,014
4,832
6,499
6,002
6,404
13,098
1,732
1,794
1,936
2,112
2,283
3, 724
1,696
2,383
2,305
2,576
5,705
31,211
50,259
45, 594
87,560
59, 708
135,081
68, 709
51, 489
47,451
53,105
156,373
71, 688
28, 246
786, 540
Net income
Income
tax
4,291
6,910
6,269
12,039
8,210
18, 574
9,448
7,077
6, 525
7,299
21, 501
108,142
Excessprofits
taxi
Number
204
244
233
887
411
595
675
464
239
371
1,127
3,184
3,570
3,831
3,363
3,034
4,290
3,136
4,116
3,697
3,828
7,393
25, 681
29, 638
43,947
43, 452
42, 344
32,908
14, 273
28,125
24,179
23,489
56, 221
5,449
43,442
364, 257
Deficit
Includes excess-profits tax of $1,429 on returns showing no net income for income tax computation.
(See article l(rf) of Treasury Decision 4469, "Regulations relating to the excess-profits tax imposed by section
702 of the Revenue Act of 1934.")
20
STATISTICS OF INCOME
Fiscal year returns of corporations, 1935, by net income and deficit classes: number
of returns, net income or deficit, income tax, and excess-profits tax, for returns with
net income and with no net income
[Net income and deficit dasses and money figures in thousands of dollars]
Returns with no
net income
Returns with net income
Net income and deficit classes
Number
Under 1__
1-2
2-3
3-4
4-5
5-10
10-15
15-20
20-25
25-50
50-100
100-250
_.
250-500
500-1,000
_
1.000-5,000
5,000-10,000
10,000 and over
__
.
Net income
Income
tax
Excessprofits
tax
Number
21,01C
6,213
3,510
2,170
1, 532
3,654
1,562
861
596
1,198
615
365
91
38
25
2
7,177
9, 005
8,638
7,536
6,897
25, 747
18,985
14, 790
13, 305
41, 684
41, 680
54, 516
30, 554
25, 841
42, 545
15, 355
43,442
364, 257
10,325
3,487
2,192
1,414
1,036
2,969
1,476
962
652
1,588
994
697
245
109
89
5
6
.
__
504
693
741
675
638
2.913
2,488
2,291
2,003
7,694
9,601
14,930
11,664
10, 361
23, 524
4,822
12, 603
9
17
22
22
23
120
110
96
81
354
491
804
625
448
1.193
'400
634
28, 246
„
3,663
5,040
5,390
4,909
4,641
21.192
18,107
16, 664
14, 589
55,953
69,825
108, 581
84,828
75, 349
171,084
35, 067
91, 656
786, 540
108,142
5,449
Excess-profits tax on returns with no net
income 1
Total
Deficit
1
i See footnote 1, p. 19.
PART-YEAR RETURNS
The returns filed by corporations showing income for less than 12
months represent reorganizations, newly organized businesses, liquidating corporations, and changes from calendar year to fiscal year basis
or vice versa. These returns are included in all text and basic tables
in this report. The part-year returns tabulated herein represent
those in which the greater part of the income period was in 1935.
Part-year returns of corporations, 1935
Total number of returns
Returns with net income:
Number
Net income
Income tax
Excess-profits tax 1
Total tax
Returns with no net income:
Number
Deficit
30, 835
7, 868
$76, 950, 241
$10, 725, 485
$280, 859
$11, 006, 344
22, 967
$166, 231, 641
1
Includes excess-profits tax of $13 on returns with no net income for income tax computation. (See article
l(d) of Treasury Decision 4469, "Regulations relating to the excess-profits tax imposed by section 702 of the
Revenue Act of 1934.")
HISTORICAL SUMMARIES
A resume of the corporation returns showing number of returns,
gross income, net income, deficit, tax, and the items of compiled
receipts, compiled deductions, assets and liabilities is shown in the
following tables. Attention is called to the fact that the amounts of
money in the tables on pages 23-26 are in millions of dollars.
21
STATISTICS OF INCOME
Corporation returns distributed by States and Territories, for the
years 1926 through 1935, showing number of returns, gross income,
net income, deficit, and tax, for returns with net income and with no
net income are presented in basic table 8, pages 89-99. Similar data
are shown by major industrial groups for the years 1926 through 1935
in basic table 7, pages 84-88.
The data for 1934 and 1935 are not strictly comparable with those
for prior years as a result of the extensive discontinuance of the privilege of filing consolidated returns under the Revenue Act of 1934.
(See section of this report entitled "Comparability with previous
reports/ 7 p. 4, and Statistics of Income for 1934, Part 2, Corporation
Income and Excess-profits Tax Returns and Personal Holding Company Returns, pp. 19-29.)
Corporations, 1909-35: total number, number with net income and with no net
income, gross income, net income, deficit, net income less deficit, income tax, warprofits and excess-profits tax, and total tax; also number of inactive corporations 1
[Money figures in thousands of dollars]
Gross income
N u m b e r of returns
Year
Total
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919 -_
1920>
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931__
1932
1933 ._
1934
1935 „
.-_ .
262,490
270, 202
288,352
305, 336
316,909
5 299, 445
5 366, 443
341,253
351, 426
317, 579
320,198
345, 595
356, 397
382,883
398,933
417, 421
430, 072
455, 320
475, 031
495, 892
509, 436
518, 736
516, 404
508, 636
504, 080
528, 898
533, 631
With no
no income
With net Within- data—Innet 2
active
income
come
corporations 2
3 52,498
3 54,040
3 55,129
3
61,116
188,866
174, 205
1.90, 911
206,984
232, 079
202,061
209, 634
203,233
171, 239
212, 535
233, 339
236, 389
252, 334
258,134
259,849
268, 783
269, 430
221, 420
175, 898
82, 646
109, 786
145,101
164,231
* 209,992
4 216,162
4 233,223
4 244, 220
128, 043
125, 240
175, 532
134, 269
119,347
115,518
110, 564
142,362
185,158
170,348
165, 594
181, 032
177, 738
197,186
165, 826
174, 828
186, 591
241, 616
283, 806
369, 238
337, 056
324, 703
312,882
49,356
52, 231
53, 415
55, 700
56, 700
56, 752
57, 238
59, 094
56, 518
Total
Returns with Returns
with no
net income net income
2, 796, 534
32, 531,097
35, 327, 631
5,153, 234
79, 540,005
84,693,239
79, 706, 659 6, 757, 622
86, 464, 281
88, 261,006 11, 657, 743
99,918, 754
118, 205, 563 93,824, 225 24,381,338
31,198,150
91, 249, 273 60,051,123
80,331, 680 20, 588, 835
100,920, 515
97, 457, 479 21,106,184
118,563, 663
97,158, 997 22, 070, 497
119,229, 494
134, 260,149 113, 692, 083 ^ 20, 568, 068
118, 022,117 24,107, 736
142,129, 853
29, 074, 012
144, 398, 352 115,324,340
152, 781, 514 7 127, 369, 525 i 25, 411, 989
160, 621, 509 129, 633, 792 30,987, 717
136, 062, 059 7 89, 561, 495 46, 500, 564
107, 515, 239 52, 051, 035 55, 464, 204
31, 707, 963 49,375, 775
81,083, 738
46, 752, 366 36, 890,055
83, 642, 421
100, 831, 253 62, 920, 954 37,910, 299
77,441, 506 36, 494, 664
113, 936,170
1
Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
corporations are summarized on pp. 101-105; general explanations appear on pp. 1-4. The period 1909 to 1915
includes, to a limited extent, additions made by audit and delinquent returns filed. Taxes shown for 1909
to 1915, inclusive, are receipts for fiscal year ended June 30 immediately following, as shown in annual reports
of Commissioner of Internal Revenue, which receipts include fines, penalties, additional assessments, etc.;
1916 and subsequent years, tax is amount reported on income-tax returns; taxes for 1913include income tax,
$32,456,663; excise tax, $10,671,077 (Act of Aug. 5, 1909).
2
Prior to 1927, returns for inactive corporations with no income data were included with returns with
no3 net income.
Returns with net income in excess of $5,000 exemption.
4
Returns with net income not in excess of $5,000 exemption or with no net income.
5
1915 contains approximately 32,000 returns related to 1914. (See Annual Report Commissioner of
Internal Revenue, 1916, p. 26.)
7
Revised. For 1925, the amount of gross income for corporations reporting no net income, in the "Finance" group, in Illinois, is decreased by $1,930,994,942. For revised figures for 1928, see Statistics of Income
for 1930, p. 238; for revised figures for 1930, see Statistics of Income for 1931, pp. 32 and 33; and for revised
figures for 1932, see Statistics of Income for 1933, p. 37.
22
STATISTICS OF INCOME
Corporations, 1909-35: total number, number with net income and with no net income, gross income, net income, deficit, net income less deficit, income tax, warprofits and excess-profits tax, and total tax; also number of inactive corporations1—
Continued
[Money figures in thousands of dollars]
Taxi
Net income
Year
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932.
1933
1934
1935
..
.
3, 590,000
3, 761, 000
3, 503, 000
4,151, 000
4, 714, 000
3, 940, 000
5, 310, 000
8, 765, 909
10, 730, 360
8, 361, 511
9,411,418
7, 902, 655
4, 336,048
6,963,811
8, 321, 529
7, 586, 652
9, 583, 684
9, 673, 403
8, 981, 884
10, 617, 741
11, 653, 886
6, 428, 813
3, 683, 368
2,153,113
2, 985,972
4, 275.197
5,164, 723
.__
_
.
.
. .
.
.
.
Net income
less deficit
Deficit
656, 804
629, 608
689, 772
995, 546
2, 029, 424
3, 878, 219
2,193, 776
2, 013, 555
2, 223, 926
1, 962, 628
2,168, 710
2, 471, 739
2, 391,124
2, 914,128
4, 877, 595
6, 970, 913
7, 796, 687
5, 533, 339
4,181, 027
3, 468, 774
3, 590,000
3, 761,000
3, 503, 000
4,151, 000
4, 714, 000
3,940, 000
5, 310, 000
8,109,005
10,100, 752
7, 671, 739
8, 415, 872
5, 873, 231
457, 829
4, 770, 035
6, 307, 974
5, 362, 726
7, 621, 056
7, 504, 693
6, 510,145
8, 226, 617
8, 739, 758
1, 551, 218
8
3, 287, 545
8 5, 643, 574
8 2, 547, 367
94,170
1, 695, 949
War-profits
Income tax and excessprofits tax
20, 960
33, 512
28, 583
35, 006
43,128
39,145
56, 994
171,805
503, 698
653,198
743, 536
636, 508
366, 444
775, 310
937,106
881, 550
1,170, 331
1, 229, 797
1,130, 674
1,184,142
1,193, 436
711, 704
398, 994
* 285, 576,
416,093
588, 375
710.156
Total tax
20,960
33, 512
28, 583
35, 006
43,128
39,145
56, 994
171, 805
2,142, 446
3,158, 764
2,175, 342
1, 625, 235
701, 576
783, 776
937,106
881, 550
1,170. 331
1, 229, 797
1,130, 674
1,184,142
1,193, 436
711, 704
398, 994
7 285, 576
423, 068
596, 048
735.125
1, 638, 748
2, 505, 566
1, 431, 806
988, 726
335,132
6 8, 466
o 0, 976
7,673
24, 969
1
6
See footnote 1, p. 21.
On net income earned from July 1 to Dec. 31, 1921, reported on fiscal year returns whose accounting
period terminated subsequent to July 1, 1922.
7
Revised. For 1925, the amount of gross income for corporations reporting no net income, in the "Finance" group, in Illinois, is decreased by $1,930,994,942. For revised figures for 1928, see Statistics of Income
for 1930, p. 238; for revised figures for 1930, see Statistics of Income for 1931, pp. 32 and 33; and for revised
figures for 1932, see Statistics of Income for 1933, p. 37.
8
Deficit in excess of net income.
9
Excess-profits tax (effective June 30, 1933, under provisions of the National Industrial Recovery Act).
Corporations, 1932—85, by net income and deficit classes: number of returns, and net
income or deficit, for returns with net income and with no net income 1
[Net income and deficit classes and moneyfiguresin thousands of dollars]
1932
Net income classes
Number
of
returns
1934
1933
Net income
Number
of
returns
Net income
Number
of
returns
Net income
1935
Number
of
returns
Net income
Returns with net income
Under 1
1-2
2-3
3-4...
4-5.
_ _
5-10
10-15
15-20
20-25
25-50
50-100
100-250
250-500
500-1,000
.
1,000-5,000
5,000 and over
Total
42,070
10,403
5 734
3,321
2, 499
6,259
2,962
1,796
1,172
2,700
1,623
1,159
429
235
225
59
13,121
14,912
14 081
11, 506
11,196
44, 505
36, 271
31,158
26, 213
94, 913
113, 643
176, 676
150, 686
165, 567
464, 892
783, 775
52, 278
13, 558
7 481
4,783
3,404
9,143
4,324
2,634
1,836
4,245
2,638
1,958
732
385
318
69
16, 350
19, 559
18, 359
16, 574
15, 239
65,189
52, 927
45, 569
41,121
149, 596
184, 378
302, 402
254, 594
263, 853
636, 480
903, 781
63, 212
17, 836
10 245
6,752
4,986
13,191
6,553
3,907
2,697
6, 425
4,080
2,946
1,092
599
483
97
20, 568
25, 680
25, 224
23. 469
22, 293
93, 873
80, 315
67, 669
60, 512
226, 765
286, 729
457, 010
379, 419
424, 504
943, 413
1,137,754
68,392
19,971
11, 995
7,820
5,715
16,014
7,818
4,653
3,280
7,547
4,840
3,445
1,335
696
597
113
22, 692
28, 820
29, 517
27, 097
25, 552
114,074
95, 733
80, 779
73, 201
266, 200
339, 824
532, 638
464, 391
485,093
1,166,034
1, 413,077
82, 646
2,153,113
109, 786
2,985,972
145,101
4,275,197
164,231
5,164,723
1
Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
corporations are summarized on pp. 101-105; general explanations appear on pp. 1-4. Figures for returns
with net income for 1919 and 1920 to 1924, inclusive, and for returns with net income and no net income for
1925 to 1930, inclusive, appear in Statistics of Income for 1930, pp. 49-51. Figures for returns with net income
and with no net income for 1931, appear in Statistics of Income for 1934, Part 2, pp. 36 and 37.
23
STATISTICS OF INCOME
Corporations, 1982-35, by net income and deficit classes: number of returns, and net
income or deficit, for returns with net income and with no net income 1—Con.
[Net income and deficit classes and money figures in thousands of dollars]
1932
Deficit classes
Number
of
returns
1933
Deficit
Number
of
returns
Deficit
1934
Number
of
returns
1935
Deficit
Number
of
returns
Deficit
Returns with no net income
Under 1
1-2
2-3
3-4
4-5
5-10. __
10-15
15-20
20-25
25-50
50-100 .
100-250
250-500
500-1,000 . .
1,000-5,000
131, 273
48, 626
31,146
22, 844
16, 449
44, 854
20,189
11, 741
7,458
16, 595
8,778
5,592
1,835
934
782
142
5,000 and over
Total
369, 238
Returns with no income data—Inactive corporations-_ 56, 752
45, 683
70, 861
76, 892
79, 367
73, 621
318, 710
246, 910
203,129
166,736
579, 563
608, 298
851, 933
636, 357
650, 386
1, 544, 855
1, 643, 385
153, 615
47, 221
27, 048
17, 828
12, 545
31, 422
13,279
7,322
4,759
10,380
5,629
3,515
1,222
641
514
116
50,836
68, 283
66, 587
61,917
56,178
221, 749
162,142
126, 662
106,110
361, 666
391, 925
539, 333
423, 833
443,104
1, 022, 415
1, 430, 599
161,078
44, 376
25, 061
15, 708
11,132
26. 955
11, 208
6,154
4,019
8, 915
4,942
3,160
1,002
542
396
55
51,967
64, 010
61, 548
54, 429
49, 794
160,322
137,118
106, 336
89, 786
311,044
344, 082
489, 854
347, 931
382,472
833, 724
666, 612
164,179
43,106
23,492
14, 579
10,083
23, 682
9,636
5,271
3,406
7,369
3,952
2,466
812
429
356
54
51, 841
62, 247
57, 742
50, 578
45, 217
166, 531
117, 556
90, 821
76,081
255, 803
274, 521
373,603
280,113
293, 646
711, 673
560, 801
7,796,687
337, 056
5, 533,339
324, 703
4,181,027
312,882
3, 468, 774
56, 518
59,094
57, 238
For footnote, see p. 22.
Corporations 1926-85: number of returns, compiled receipts and compiled deductions, compiled net profit or net loss, and net income or deficit1
[Money figures in millions of dollars]
1926
Number of returns
_
_
Receipts, taxable income:
Gross sales 2
Gross receipts from operations 3
Interest
Rents
Net capital gain (sale of stocks, bonds, and
other assets)
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations 4
Total compiled receipts «
Deductions:
Cost of goods sold «_
Cost of operations i
_.
Compensation of officers 8
Rent paid on business property
_
Interest paid
__
Taxes paid other than income tax 9
Bad debts
Depreciation
Depletion
Net capital loss (sale of stocks, bonds, and
other assets)*0
Other deductions
1927
1928
1930
455,320
425, 675
443,611
456, 021
463, 036
106,206
9,332
3,712
106, 864
9,420
3,989
112,436
10,334
4,476
118,101
28,598
5,036
2,391
* 97,941
25, 267
4,707
2,480
(12)
(12)
(12)
(12)
(12)
1,315
2,587
646
1* 2,450
21,373
1,506
500
22, 468
1, 658
501
" 23, 619
1,917
"523
2,593
537
2,571
14 526
142,629
144,899
153, 305
161,158
14 136, 588
82, 484
83,487
87,265
91,076
14 76,190
(13)
(13)
(13)
3,989
1,878
(13)
3,270
571
(13)
(13)
(13)
(13)
4,375
2,014
814
3,346
502
(13)
(12)
(13)
3,199
(13)
4,581
2,203
804
3,597
515
(13)
3,337
(13)
4,925
2,222
942
3,871
559
(13)
40,927
41, 692
(13)
" 40, 473
133,119
136, 230
142, 638
149, 289
6,510
10, 667
8,227
11,870
8,740
Total compiled deductions. _
Compiled net profit or net loss
Net income or deficit.
For footnotes, see p. 24.
1929
9,510
7,505
42, 357
(13)
3,139
(13)
4,861
2,297
980
3,986
463
936
14 39, 088
14131,940
14 4, 649
1,551
24
STATISTICS OF INCOME
Corporations 1926-35: number of returns, compiled receipts and compiled deductions, compiled net profit or net loss, and net income or deficit*—Continued
[Money figures in millions of dollars]
1931
Total compiled deductions
Compiled net profit or net loss
Net income or deficit..
-
446,842
469, 804
477,113
53, 294
19, 584
3,491
1,926
57, 777
18, 982
2,786
1,650
74, 309
18,552
2,696
1,585
85, 332
19, 790
2, 566
1,643
142
1,387
1,159
243
1,229
470
1,122
1,969
542
1,260
554
1,026
592
2, 217
14
659
3,014
714
81, 638
84,234
101,490
114, 650
58,774
"41,430
43, 626
9,420
1,995
1,422
3,511
2,124
1,249
3,496
246
57, 458
8,670
2,173
1,486
3,422
2,162
1,182
3,362
312
60, 279
9,190
2,345
1,542
3,261
2,628:
965
3,352
349'
1,705
" 28, 816
1,686
16, 390
297
17,996
239
19,076
108, 834
Total compiled receipts 5
Deductions:
Cost of goods sold «
Cost of operations ?
Compensation of officers 8
Rent paid on business property
_.
Interest paid
Taxes paid other than income tax 9
Bad debts
Depreciation
Depletion
Net capital loss (sale of stocks, bonds, and
other assets) i°
Other deductions
451,8
108, 057
Receipts, taxable income:
Gross sales 2
Gross receipts from operations 3
Interest
Rents
Net capital gain (sale of stocks, bonds, and
other assets)
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations 4
1933
459, 704
Number of returns
1932
85, 467
85,164
98, 520
109, 227
15777
» 3,288
is 3,829
is 5, 644
75,494
21,945
4,122
2,251
299
(13)
2,698
(13)
4,492
2,231
1,183
4,003
268
1,702
33,484
4
(13)
2,133
(13)
4,043
2,087
1,313
3,693
247
15 930
is 2, 547
1934
4
1 2, 970
94
1935
5, 423
1,696
1 Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
corporations are summarized on pp. 101-105; general explanation appears on pp. 1-4.
2
For 1926 to 1931, gross sales for trading and manufacturing concerns. For 1932 and subsequent years,
gross sales where inventories are an income-determining factor. For "cost of goods sold" see "deductions."
3 For 1926 to 1931, gross receipts from operations other than trading and manufacturing. For 1932 and
subsequent years, gross receipts from operations where inventories are not an income-determining factor.
For "cost of operations" see "deductions."
* See footnote 3, p. 11.
• See footnote 4, p. 11.
6
See footnote 5, p. 11.
^ See footnote 6, p. 11.
8
See footnote 7, p. 11.
» See footnote 8, p. 11.
i° For limitation on amount of loss that may be reported for 1932 and 1933, on sale of stocks and bonds
(other than Government bonds) held 2 years or less, see sec. 23 (r) of the Revenue Act of 1932 and sec. 218 (b)
of the National Industrial Recovery Act; for limitation on amount of loss that may be reported for 1934 and
1935 see section of this report entitled "Revenue Acts of 1913-1934 and certain tax provisions of the National
Industrial Recovery Act (1933); also the special excise tax under the Act of August 5,1909," p. 104. footnote
5(c).
11 Includes in this year returns for inactive corporations.
12 Included in "other receipts."
13 Included in "other deductions."
" Revised. For revised figures for 1928, see Statistics of Income for 1930, p. 238; also, for 1928, the amount
of interest received on tax-exempt obligations by corporations reporting net income in the "Trade" group,
in Illinois, is decreased by $70,000,000. For revised figures for 1930, see Statistics of Income for 1931, pp. 32,.
33, and Statistics of Income for 1933, p. 37; and for revised figures for 1932, see Statistics of Income for 1933,
p. 37. For 1934, the amount of interest received on tax-exempt obligations by corporations reporting no net
income and submitting balance sheets with total assets of $1,000,000 and under $5,000,000 (for which consolidated returns were filed for 1933) in the "Trade" group, in New York, is decreased by $4,900,000.
15 Compiled net loss or deficit.
25
STATISTICS OF INCOME
Corporations submitting balance sheets 1928-35: number of returns, assets and
liabilities as of the end of the calendar year or close of fiscal year nearest thereto,
compiled receipts and deductions, compiled net profit or net loss, and net income
or deficit l
[Money figures in million s of dollars]
1926
Number of returns with balance sheets 2
1927
1928
1929
1930
H 359,449
379,156
384, 548
398, 815
403,173
16, 802
23, 552
20, 939
8,694
16,851
50, 959
21, 005
9,781
21, 952
62, 804
20, 751
10,116
22, 371
66,810
21,911
10, 338
21,012
59, 675
18, 771
10, 228
(15)
(15)
17 55,844
83 809
Assets ;3
Cash 4
Notes and accounts receivable.
Inventories
. _
Investments, tax-exempt «
_
Investments other than tax-exempt—
Stocks, bonds, mortgages, loans, real
estate etc
Capital assets—Land, buildings, equipment, etc., including d.epletable assets (less
reserves for depreciation and depletion)..
Other assets
(15)
Total liabilities
109, 931
81, 663
116,446
42, 057
120, 994
19,511
287, 542
307, 218
335, 778
334,002
24, 042
16 31, 801
16 87, 076
17,146
67, 517
39,154
4,557
24,126
16 37, 740
16 93, 274
17, 800
74, 081
45, 415
4,893
27,437
42, 943
93, 950
18, 475
77, 256
52, 069
4,913
29, 453
46, 643
16 99, 314
19, 738
1 85, 520
6
60, 699
5,588
26,870
50, 282
16 95, 568
19,117
87, 067
1 61, 832
6
6,734
is 262,179
_
104, 945
84, 001
16 262,179
Total assets
Liabilities:*
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Capital stock—preferred
Capital stock—common
Surplus and undivided profit
Less deficit
97, 523
1 94, 669
6
287, 542
307, 218
335, 778
334, 002
1933
1934
1931
Assets :3 4
Cash
Notes and accounts receivable
Inventories
Investments, tax-exempt 5 _ ___ Investments other than tax-exemptStocks, bonds, mortgages, loans, real
estate, etc
Capital assets—Land, buildings, equipment, etc., including depletable assets
(less reserves for depreciation and depletion) .
.
Other assets
Total assets
Liabilities :3
Notes and accounts pavable
Bonded debt and mortgages
Other liabilities
Capital stock—preferred
Capital stock—common
Surplus and undivided profit.
Less deficit
.
Total liabilities
For footnotes, see p. J
__ _
381, 088
392, 021
388, 564
410, 626
415,205
15, 880
48, 667
15,140
10, 667
15,917
39, 564
12,372
11,917
15, 236
35, 835
13, 597
13, 571
19,961
40, 529
14,311
19, 084
23, 664
38,690
14, 788
21,863
1 75, 305
6
75, 630
70, 474
90, 573
90,163
16 114, 303
16, 534
108,553
16,129
104, 958
14, 535
102, 751
14,097
100, 480
13, 501
296,497
Number of returns with balance sheets 2
1932
280, 083
268,206
301, 307
303,150
23, 251
48,101
1 81, 782
6
1 19,217
6
79, 794
51, 976
7,624
20, 562
1 47, 222
6
1 78, 730
6
19,076
78, 413
45, 664
9, 584
19, 362
45,883
75, 384
18,394
74, 088
44, 792
9,696
27, 021
48, 604
84, 096
19, 976
84,970
48, 986
12, 347
25, 332
49, 822
89, 066
19,533
82, 733
48, 828
12,163
296, 497
280, 083
268, 206
301, 307
303,150
1935
26
STATISTICS OF INCOME
Corporations submitting balance sheets 1926-35: number of returns} assets and'
liabilities as of the end of the calendar year or close of fiscal year nearest thereto^
compiled receipts and deductions, compiled net profit or net lossf and net income
or deficit x—Continued
[Money figures in millions of dollars]
1931
Receipts, taxable income:
Gross sales •
Gross receipts from operations ?.
Interest
Rents
Net capital gain (sale of stocks, bonds, and
other assets)
Other receipts..
Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations s
Total compiled receipts
8
Deductions:
fl
Cost of goods sold 10
_.
Cost of operations
_
Compensation of officers "
Rent paid on business property
Interest paid
Taxes paid other than income tax «
Bad debts..
Depreciation
__.
Depletion
_..
Net capital loss (sale of stocks, bonds, and
other assets) w
_
Other deductions
Total compiled deductions
1932
73, 783
21,206
4,024
2,110
i« 52, 586
" 18,640
3,418
1,813
1933
1934
56,961
17, 991
2,713
1,556
72,825
17,913
2,640
1,498
1935
,
19,005
2,504
1,546
452
1,096.
284
136
1,356
253
1,130
233
1,207
1,905
533
1,207
545
2,129
16 650
2,917
582
105, 238
79, 701
82,148
" 99,095
112,098=
57,374
" 40, 842
42,981
3,906
2,012
1,285
3,624
242
1,
1,376
3,375
2,044
1,213
3,423
243
56,213
8,443
2,102
1,438
3,339
2,108
1,151
3,290
303
65,062:
8,864
2, 267
1,489
3,160
2,561
928
3,273
1,538
16 27,698
1,488
15, 727
258
17,412
179
18,477
(18)
2,574
(18)
4,369
2,172
1,153
3,933
261
1,539
32,351
(18)
2,064
(18)
105, 725
83, 211
82, 787
96,058
106,599
1M87
19 2,925
19 3,511
19 5,262
19 639
19 2,183
16 3,037
258
5, 500-
Compiled net profit or net loss
1,883:
Net income or deficit
._
1 Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
corporations are summarized on pp. 101-105; general explanations appear on pp. 1-4. Compiled receipts
and compiled deductions are not available for corporations submitting balance sheets as distinct from all
corporations, for the years 1926 to 1930, inclusive.
2
Excludes returns for inactive corporations and returns with fragmentary balance sheet data.
3 See text pp. 11-15.
* Includes cash in till and deposits in bank.
5 See footnote 3, p. 11.
6 For 1931, gross sales for trading and manufacturing concerns. For 1932 and subsequent years, gross sales
where inventories are an income-determining factor. For "cost of goods sold" see "deductions."
7 For 1931, gross receipts from operations other than trading and manufacturing. For 1932 and subsequent years, gross receipts from operations where inventories are not an income-determining factor. For
"cost of other operations" see "deductions."
s See footnote 4, p. 11.
9
See footnote 5, p. 11.
i° See footnote 6, p. 11.
11 See footnote 7, p. 11.
12 See footnote 8, p. 11.
13 For limitation on amount of loss that may be reported for 1932 and 1933, on sale of stocks and bonds
(other than Government bonds) held 2 years or less, see sec. 23 (r) of the Revenue Act of 1932 and sec. 218 (b)
of the National Industrial Recovery Act; for limitation on amount of loss that may be reported for 1934
and 1935, see section of this report entitled "Revenue Acts of 1913-1934 and certain tax provisions of theNational Industrial Recovery Act (1933); also the special excise tax under the Act of August 5,1909," p. 104,
footnote 5 (c).
i* Includes in this year returns for inactive corporations.
15 Included in "other assets."
is Revised. For revised figures for 1926, see Statistics of Income for 1928, p. 388; for revised figures for
1927, see Statistics of Income for 1931, p. 32; for revised figures for 1929, see Statistics of Income for 1930, p.
28; and for revised figures for 1930,1.931, and 1932, see Statistics of Income for 1933, p..37. For 1934, the amount
of interest received on tax-exempt obligations of corporations reporting no net income and submitting
balance sheets with total assets of $1,000,000 and under $5,000,0G0 (for which consolidated returns were filed
for 1933) in the "Trade" group, in New York, is decreased by $4,900,000.
17 In this year "investments other than tax-exempt" owned by life insurance companies were included
with "other assets" (see text p. 13).
18 Included in "other deductions."
19 Compiled net loss or deficit.
STATISTICS OF INCOME
27
PERSONAL HOLDING COMPANY RETURNS
A personal holding company is denned under the provisions of section 351 of the Revenue Act of 1934 as any corporation (other than the
specifically exempt corporations indicated below), if—(A) 80 percent
or more of its gross income for the taxable year was derived from
royalties, dividends, interest, annuities, and (except in the case of
regular dealers in stock or securities) gains from the sale of stock or
securities, and, (B) at any time during the last half of the taxable
year more than 50 percent in value of its outstanding stock was owned,
directly or indirectly, by or for not more than five individuals. Corporations specifically exempt from this tax are as follows: (1) Corporations exempt from income taxation (as listed in section 101 of the
Revenue Act of 1934); (2) banks and trust companies incorporated
under the laws of the United States or of any State or Territory, a
substantial part of whose business is the receipt of deposits; (3) life
insurance companies; and (4) surety companies.
The term "adjusted net income" means the net income computed
without deducting dividends received (which are allowed as a deduction for income tax purposes), but minus the sum of: (a) Federal
income, war-profits, and excess-profits taxes and foreign taxes (not
deducted in computing net income on Form 1120), paid or accrued
during the taxable year, but not including surtax on personal holding
companies; (6) contributions or gifts to charitable, educational, and
other similar organizations, which are not allowed as a deduction for
income tax purposes; and (c) losses from sales or exchanges of capital
assets which are disallowed as a deduction by section 117(d) of the
Revenue Act of 1934.
The term "undistributed adjusted net income" means the "adjusted
net income" minus the sum of: (a) 20 percent of the excess of the
adjusted net income over the amount of dividends received from personal holding companies; (b) amounts used or set aside to retire indebtedness incurred prior to January 1, 1934, if such amounts are
reasonable with reference to the size and terms of such indebtedness;
and (c) dividends paid during the taxable year.
The act imposes upon personal holding companies an additional
graduated surtax of 30 percent of the undistributed adjusted net income not over $100,000, plus 40 percent of the amount over $100,000.
Personal holding companies are subject to this surtax on Form 1120H
(see facsimile on pp. 120-123) in addition to the corporation income
tax on Form 1120.
The personal holding company returns filed by corporations on
Form 1120H, for the calendar year 1935 and for fiscal years ended in
the period July, 1935, through June, 1936, numbered 5,075. There
were 430 returns which showed undistributed adjusted net income and
a surtax. No surtax liability was shown for 4,645 personal holding
companies, which were divided into (a) 2,761 companies with no undistributed adjusted net income, of which 544 companies reported
that each shareholder included his pro rata share of the adjusted net
income of the corporation on his individual income tax return and
2,217 companies reported dividends distributed to shareholders and
other credits in excess of adjusted net income and (6) 1,884 companies
with no adjusted net income.
28
STATISTICS OF INCOME
The accompanying tables are based on the returns as filed and prior
to any revision or adjustment that may subsequently be made as a
result of audit by the Bureau of Internal Revenue.
For returns Form 1120H of personal holding companies (a) with
adjusted net income (divided into returns with surtax liability and
the two types with no surtax liability) and (b) with no adjusted net
income, the following table presents: number of returns, receipts, deductions not allowed on Form 1120, adjusted net income, adjusted
net loss, credits, and surtax. In each case the returns were separated
into those with net income and with no net income on Form 1120.
In the tables throughout this report compiled from corporation income
and excess-profits tax returns for 1935, the returns filed by these companies on Form 1120 were merged in the various industrial classifications according to the predominant business activity of the corporation
as reported on that form.
The 430 returns of personal holding companies which report surtax
liability show adjusted net income of $22,356,267 and dividends paid
of $9,087,618, or 40.6 percent of their adjusted net income. The undistributed adjusted net income subject to surtax is $8,785,604 and
the surtax liability is $2,968,620. Of the 430 returns, 257 show net
income on Form 1120. The surtax liability on Form 1120H for these
257 returns is $1,694,568. The surtax liability for the remaining 173
returns with undistributed adjusted net income but with no net income
on Form 1120 is $1,274,052.
It is not possible to determine the amount of the income tax liability
of the individual shareholders on Form 1040 with respect either to
the pro rata shares of the adjusted net income shown on Form 1120H,
which were reported on Form 1040, or to the dividends distributed
by the personal holding companies to the shareholders.
29
STATISTICS OF INCOME
Personal holding companies, 1985: number of returns, receipts, deductions, adjusted
net income or adjusted net loss, credits and surtax, for returns with adjusted net
income and with no adjusted net income on Form 1120H and for those with net
income and with no net income on Form 1120
[Money figures in thousands of dollars]
All returns
Form 1120H
Returns Form 1120H with adjusted
net income
Returns
Form
1120H
with no
adjusted
net income
With no undistributed
adjusted net income
With
net
income
on
Form
1120
Number of returns
1,901
With undistributed
adjusted
net income
With and surtax
nonet
liability
income
on
Form
1120
With With
net nonet
inincome come
on
on
Form Form
1120 1120
3,174
257
173
Pro rata
shares reported on
individual
income tax
returns of
shareholders
With
net
income
on
Form
1120
With
nonet
income
on
Form
1120
354
190
Dividends
paid to shareholders and
other credits
exceed
adjusted net With With
net nonet
income
inincome come
on
on
With With Form Fom
net no net 1120 1120
inincome come
on
on
Form Form
1120
1120
1,189
1, 028
101 1,783
Receipts:
Net income on Form 1
1120
42,162
53, 889
1,442
5,997
4,287
Deficit on Form 1120
2,359
12, 067
52, 098
1,093
36, 579
Dividends on stock of domestic
61, 904 167, 060 7, 001 14, 753 2,971 4,784 48, 460 124, 841 3. 442 22, 682
corporations 2 _
Total __
115,792 114,961 12, 968 12, 394 7,258 3,691 90, 651 112, 7741 4 8«5 313,898
Deductions not allowed on Form
1120:
Federal income, war-profits and
excess-profits taxes, paid or
accrued during the taxable
year.- _ __ ___
7,263 1,938
Contributions or gifts
364 12, 619
Losses from sale of capital assets. 13, 328 63, 251
Foreign income taxes (not deducted in computing net income on Form 1120), paid or
accrued during the taxable
197
vear
1,541
Total
Adjusted net income
Adjusted net loss l
853
11
530
15
22, 4S6 77, 936 1,408
474
218
936
(4)
1,628
Total
1
3
3
8
161
208
5,479
248
1,955
126
1
1,184
1,195
378
8, 867
404
516 1,053
354
104 11, 886
4, 859 10,ISO 57, 248
72
216
55
5, 688 11, 026 70, 241
93, 296 37, 026 11, 590 10, 766 6,063 3,313 81, 784 107,086
6,141 84,139
Credits:
20 percent of adjusted net income in excess of dividends
from personal holding companies
17, 000 20, 364 2,234 1,761
324
Amount for debt retirements.. 8,786 17, 060
164
87, 238 121,304 4,191 4,. 897
Dividends paid.-_
Undistributed adjusted net income
Amount taxable at 30 percent..
Amount taxable at 40 percent..
Surtax, Form 1120H
415
1
653
113,023 158, 728 6,589 6,982
• 5, 001 ' 3, 785
5
s 3, 059 5 2, 398
5 1, 942 51, 387
s 1, 695 5 1 274
5,001
3,059
1,942
1,695
14, 766 18, 603
8,569 12, 765
82, 413 105, 918
(*)
52 3,971
634 10,489
105, 747 137, 287
687 14,460
3,785
2,398
1,387
1,274
Deductions in excess of receipts.
Includes dividends from personal holding companies.
Deficit on Form 1120 in excess of dividends received from domestic corporations.
* Less than $500.
1
Amounts reported on Form 1120H by companies with undistributed adjusted net income and surtax
liability.
78019—38
3
30
STATISTICS OF INCOME
The following table shows the number of returns with adjusted net
income distributed by adjusted net income classes:
Personal holding companies with adjusted net income, 1935, by adjusted net income
classes: number of returns
Number of returns with adjusted
net income
With no undistributed
adjusted net income
Adjusted net income classes
With undistributed
adjusted
net income
and surtax
liability
(Thousands of dollars)
Pro rata
shares reported on
individual
income tax
returns of
shareholders
Under 5
Dividends
paid to
shareholders and
other credits exceed
adjusted
net income
207
39
61
41
30
42
7
3
Total
309
62
93
45
20
14
1
643
262
423
305
242
286
33
20
3
430
5-10
10-25
25-50
50-100
100-500
500-1,000
1,000-5,000
6,000 and over.. _
544
2,217
BASIC TABLES
Tables are continued in the following pages exhibiting in greater
detail information from corporation income and excess-profits tax
returns.
SYNOPSIS OF CORPORATION INCOME AND PROFITS TAX RATES
There is also included a synopsis of corporation income and profits
tax rates and credits affecting the comparability of the data in Statistics of Income in the section of this report entitled "Revenue Acts
of 1913-1934 and certain tax provisions of the National Industrial
Recovery Act (1933); also the special excise tax under the Act of
August 5, 1909" on pages 101-105.
Respectfully,
GUY T. HELVERING,
Commissioner of Internal Revenue.
JOHN W. HANES,
Acting Secretary of the Treasury.
BASIC TABLES
CORPORATION INCOME
AND EXCESS-PROFITS TAX RETURNS
31
32
STATISTICS OF INCOME
TABLE 1.—Corporations, 1935', by States and Territories: number of returns, gross
and stock dividends paid, for returns with net income and
[Money figures in
[For text defining certain items and
States and Territories
Returns with net income
Total
number
of returns
Number
Gross
income
!
19
20
21
122
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Alabama
Alaska
Arizona
Arkansas
California
_
Colorado
Connecticut
Delaware
Dist. of ColumbiaFlorida
Georgia
Hawaii..
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana..
Maine.-Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire...
New Jersey-New Mexico
New York
North Carolina
North Dakota
Ohio
--.
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
3,725
217
1, 555
2,534
25. 246
6,660
9,051
2,888
2,780
9,863
5,830
798
2,269
35,331
12, 515
8,736
4,841
5,252
6,850
3,912
6, 776
21,699
16,166
11,214
2,374
15,906
2,978
4,494
968
1,464
26,354
1,133
120, 619
6,019
2, 752
26, 664
6,073
5,813
28,284
3, 577
3,447
2,699
5. 359
15^ 675
2,842
1,241
6,876
11, 556
4,543
15,916
1,297
1,306
80
466
1,028
8,623
1,854
2,708
883
1,158
2,651
2,381
457
653
11, 506
4,397
2,944
1,832
2,120
2,325
1,111
2,324
7,027
5,946
3,683
910
5,305
1,053
1, 613
227
523
5,670
387
27,180
2,780
726
9,963
2,063
1.702
8,949
1,071
1,394
755
2,128
5,772
901
413
2,742
3,141
1,870
5,087
443
251,185
7,914
85, 620
158, 696
3, 584,160
440,918
1,226,404
872,425
375, 784
399, 849
504, 588
227,150
84,461
9, 006, 547
1,159,218
733, 915
491, 601
736,180
626,077
219.382
793', 415
3,298, 510
7,115, 810
1, 589,448
132,141
2, 084,450
159.290
334, 669
176,435
112,329
2,011,271
46,644
19, 634, 755
941,677
67,840
4,991, 567
745,883
327, 687
4,971, 603
411, 535
275,669
74,962
618,005
1,920, 227
173, 666
81. 531
697, 714
639,526
510,002
1, 273,028
37,844
Total.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
533, 631
164,231
77,441, 506
Deductions i
240,064
7,077
81,218
151, 595
3,318,296
402, 580
1,135, 966
743, 857
348, 761
377, 743
477, 905
195, 913
78,026
8, 544,884
Net income Income
tax
Ixcessprofits
tax'
1, 950, 406
150, 668
318,675
173,223
105,255
1, 830, 546
44, 493
18,187, 725
871,434
65, 604
4, 666,819
684, 022
313,857
4,622,276
386,138
263,896
72, 756
584,864
1,816,377
164. 307
76, 744
640, 936
607, 076
475, 614
1,210,847
35, 923
11,121
836
4,401
7, 101
265,864
38,338
90. 438
128, 568
27, 023
22,106
26, 683
31,236
6,435
461, 663
82,779
34, 631
20,360
46,686
35,823
13,410
55,806
223,173
456, 526
68, 070
6,015
134. 044
a 622
15,994
3,213
7.074
180, 725
2,151
1,447,030
70,243
2,236
324, 748
61, 861
13,830
349, 627
25,398
11, 774
2,206
33,141
103,850
9,358
4,787
56, 778
32,449
34,388
62,182
1,922
1,530
115
604
976
36, 557
5, 271
12, 434
17, 677
3,713
3,039
3,669
4,294
885
63,479
11, 382
4,760
2,811
6,419
4,923
1,843
7,608
30, 686
62, 772
9,358
827
18, 431
1,186
2,198
442
973
24. 868
'296
199, 007
9,657
308
44,650
8,506
1,901
48, 072
3,492
1,619
303
4, 557
14, 301
1,287
658
7,807
4,462
4,728
8,552
264
62
11
38
47
1,253
208
190
588
120
173
133
56
22
2,823
720
212
89
173
313
67
201
1.124
6,143
310
42
402
54
71
17
28
374
17
3,881
159
24
1,518
330
95
1,159
84
41
12
175
549
44
19
1S6
196
135
294
13
72,276, 783
5,164, 723
710,156
24,969
1,076,439
699, 284
471, 242
689,495
590, 254
205,972
737, 609
3,075,337
6, 659,284
1, 521,378
126,127
1 Gross income and deductions correspond to total income and total deductions (items 14 and 26, respectively, on face of return) plus, in each instance, cost of goods sold and cost of operations (items 2 and
5 on face of return). Interest received on Liberty bonds, etc. (item 11 on face of return), has been deducted from gross income as this item was not included in gross income for prior years.
2
Includes excess-profits tax of $19,584 on returns with no net income for income tax purposes. The credit
for interest received on certain obligations of the United States and its instrumentalities, which is allowed
against net income in the computation of the income tax, is not allowed against net income in the computation of the excess-profits tax. (See article l(d) of Treasury Decisions 4469, "Regulations relating to the
excess-profits tax imposed by section 702 of the Revenue Act of 1934.")
33
STATISTICS OF INCOME
income, deductions, net income or deficit, income tax, excess-profits tax, and cash
with no net income; also number of inactive corporations
thousands of dollars]
describing returns included, see pp. 1-4.]
Returns
with no
income
dataInactive
corporations
Returns with no net income
Number
Gross
income
1
Deductions i
Deficit
Number
Dividends paid
Returns with net
income
Cash
Returns with no net
income
Stock
Cash
2,065
113
774
1,324
13, 500
3,601
5, 748
1,628
1, 399
5^539
3,044
313
898
20,120
6,431
4,054
2, 663
2, 061
3,784
2,336
3, 663
13, 321
3,370
5,847
1,299
8,768
1, 524
2,459
474
879
18, 286
532
82,871
2,874
1, 463
14,973
3,375
3,208
16, 416
2,197
1,794
1,421
2,814
8,373
1,451
757
3, 639
6,196
2,328
8. 600
715
215, 737
3, 325
41,239
89,846
1, 600, 398
204,970
638, 072
857, 074
230,133
227,' 302
299,471
21,900
47,137
3, 546, 361
464, 908
258, 798
252,944
187, 687
279, 803
178, 297
600, 357
1, 650,133
719, 647
608, 656
88, 206
1,134,084
59, 810
152,093
24, 710
70, 422
1, 504, 629
19,112
10,925, 741
306,982
41, 558
1,842, 111
500,882
212,128
3, 519,121
270,891
134, 764
38, 937
227, 056
719, 347
79, 437
53, 377
247, 877
313, 667
152, 547
616,960
23,007
231, 518
3,715
46, 966
95, 530
1, 771, 083
229, 222
694,133
934, 621
243, 838
258', 253
318,177
26.107
50, 540
3, 881, 361
506,981
282, 688
275, 314
206, 876
326,060
195, 245
679, 489
1, 814,879
826, 489
673,043
96, 008
1, 260, 364
56, 442
165,043
26, 749
75, 668
1, 680,012
20,952
11,920,382
329,096
44, 605
1,993, 843
540,098
234, 266
3, 767,177
307, 647
142,173
42,082
245, 279
794, 673
86, 532
58,110
287,580
345, 264
165, 372
681, 093
24, 801
15, 781
390
5,727
5,684
170,684
24, 252
56, 061
77, 547
13, 705
30, 952
18, 706
4,207
3,403
335, 000
42,073
23,890
22, 370
19,178
46, 257
16,949
79,132
164, 745
106,842
64. 388
7,802
126, 280
5,632
12,950
2,039
5,246
175, 382
1,840
994, 641
22,114
3,047
151, 732
39,216
22,138
248,056
36, 755
7,408
3,145
18, 223
75, 325
7, 096
4,733
39. 703
31, 598
12, 825
64,133
1,794
355
24
315
182
3,123
1, 205
595
377
223
1,673
405
28
718
3,705
1,687
1,738
346
470
741
465
789
1,351
1,850
1,684
165
1,833
401
422
267
62
2,398
214
10, 568
365
563
1,728
635
903
2,919
309
259
523
417
1,530
490
71
495
2,219
345
2,229
139
7.213
341
2, 622
4,222
215, 443
35, 487
68, 506
198,918
10,974
13^ 123
14, 632
24, 250
4,395
282, 565
45, 720
17, 831
52, 213
30, 620
21, 759
8,964
59,939
160,023
308, 235
58, 389
2, 831
95,470
5,101
11,138
6,106
6,219
199, 588
1,339
1,715,933
52,651
811
227,861
54, 298
5,641
317, 245
21,250
5,077
897
17, 417
112, 674
4,925
2,823
45, 473
21, 984
41, 962
26,867
1,038
309
4
132
280
7,697
248
1,787
273
442
535
l f 923
8, 799
122
6,354
3,272
1,005
962
873
2,002
564
771
1,531
8,531
2,060
4
3,015
450
1,265
6
12
1,901
546
26,876
1,165
73
5,360
999
279
7,609
1,167
414
84
470
2,008
50
8
4,854
1,093
336
1, 556
28
2,383
14
649
470
77, 533
5, 636
9, 401
228, 644
2, 575
5,' 018
5,371
1,995
1,076
46, 875
4, 503
3,938
12, 687
2.242
4, 756
3, 608
9, 451
30, 496
6,916
13, 667
710
17,800
598
1, 491
1,212
332
50, 973
591
477, 260
3,022
243
41,195
27,855
975
139,965
5,529
2,179
249
1,829
10,094
1, 260
485
5, 531
8,313
2,350
7, 503
171
312, 882
36, 494, 664
39, 963, 438
3, 468, 774
56, 518
4, 651,002
112,162
1, 289, 618
Stock
5
5
134
4,274
14
215
94
48
374
3
3
3,602
527
208
19
60
176
29
478
69
178
684
21
987
20
185
250
3
534
7,440
200
21
688
95
160
441
9
444
100
9
175
17
1
193
46
73
377
23,689
1
2
3
4
5
8
7
8
9
10
11
12
13
14
15
16
17
18
m
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
TABLE 2 (Table 3, Statistics of Income for 1934, Part 2).-—Corporations, 1985, by major industrial groups and subgroups: number of returns,
gross income, net income or deficit, income tax and excess-profits tax, for returns with net income and with no net income; also number of
inactive corporations
[Money figures in thousands of dollars]
[For text defining certain items and describing returns included, see pp. 1-4]
Returns with net income
Industrial groups
Agriculture and related industries:
Farming—Cotton, grain, stock; horticulture and
all other farming; lessors.
Related industries—Forestry, fishing, ice harvesting, and other related industries; holders and
lessors.
Total agriculture and related industries
Mining and quarrying:
Metal mining—Iron, copper, lead, zinc, gold,
silver, quicksilver.
Coal:
Anthracite
..Bituminous, lignite, and peat
Oil and gas
Other minerals—Asbestos, clay, granite, precious
and semiprecious stones, salt, etc.
Mining and quarrying n. e. c , lessors and holders.
10
Total mining and quarrying..
_
Manufacturing:
Food and kindred products:
Bakery and confectionery products
Canned products—Fish, fruit, vegetables,
poultry, etc.
Mill products—Bran, flour, feed, etc
Packing-house products—Fresh meats, ham,
lard, bacon; meat canning, by-products, etc.
Sugar—Beet, cane, maple, and products
Other food products—Artificial ice, butter
substitutes, cereals, coffee, spices, dairy
products, etc., food products, n. e. c.
Total food and kindred products
Total
number
of
returns
Number
8,659
2,038
321, 621
1,425
283
37, 344
10, 084
2,321
908
123
2,012
4,286
1,865
Returns with no net income
Number of
returns
with no
income
dataInactive
corporations
Net income Income tax
Excessprofits
tax 2
Number
40,835
5,615
132
5,827
194,951
29, 200
794
1
3,066
421
28
907
35, 703
11, 053
235
2
358, 965
43, 901
6 ; 036
160
6,734
230, 654
40, 253
1,029
239
312,126
54, 391
7,479
122
651
221, 226
23,409
18
3
42
591
1,719
581
37, 027
358,168
427, 715
149, 594
1, 248
19, 566
53, 314
18,157
172
2,690
7,327
2,497
3
60
215
65
76
1,384
2,535
1,242
194, 914
410,329
362, 434
81, 435
17, 373
35, 142
59, 292
11,195
5
37
32
42
4
5
6
7
8
Gross
income 1
Gross
income 1
Deficit
9,226
1,355
47, 224
16, 260
2,236
50
3,300
22, 516
27,468
4,571
18. 420
4, 527
1,331,854
162, 936
22, 400
515
9,188
1, 292, 853
173, 879
4,705
4,030
1,959
1,316
772
981, 328
668, 945
63, 645
54, 947
8,751
7,555
98
176
2,472
1,053
370, 580
164, 294
13, 329
6,804
242
134
9
10
1,339
975
613
499
841, 779
3, 051, 723
34, 244
53, 487
4,709
7,354
203
771
632
450
239, 822
640, 484
6,008
9,864
94
26
11
12
166
4,906
87
2,025
466, 833
1, 329,825
36, 322
75, 026
4,991
10, 309
149
188
62
2,614
146, 258
426, 587
3,093
16, 702
17
267
13
14
13, 375
5,312
7, 340, 434
317, 671
43, 670
1,584
7, 283
1, 988, 025
55, 807
780
00
Liquors and beverages:
Soft drinks—Cider, mineral or spring water,
etc.
Liquors—Wines, beer, malt extract, malt
yeast, alcohol, etc.
Total liquors and beverages.
Tobacco products
Textiles and their products:
Cotton goods—Dress goods, plain cloth, etc.,
napping and dyeing.
Woolen and worsted goods—Wool yarn, dress
goods; wool pulling, etc.
Silk and rayon goods—Silk fabrics; spinning,
etc.
Carpets,floorcoverings, tapestries, etc
Textiles n. e. a, cord, felt, fur, hospital and
surgical supplies, linen, other textiles, etc.
Clothing—Custom-made, factory-made, coats,
underwear, millinery, and clothing, n. e. c.
Knit goods—Sweaters, hosiery, etc
1,745
866
143, 020
21, 503
2,957
1,537
600
964, 281
86,320
11, 869
3,282
1,466
1,107.. 301
107, 824
14, 826
387
139
1, 077, 784
99, 419
13, 670
36,445
2,945
179, 954
13,410
261
1, 481
216, 399
16, 355
335
228
33, 682
1,221
20
548
477, 067
28,004
16
5,512
19
805
905
937
373
435? 437
17, 743
2,440
566
312
454, 422
25, 009
3,439
256
240
98, 010
879
243
321, 500
21,127
2,905
22
611
196,411
15,329
25 20
176
3,770
60
1, 559
137, 913
837, 485
7,997
49,101
1,100
6,751
31
377
112
2,146
30, 503
384,174
2,001
20, 702
65
21
22
8,010
2,981
1, 287,947
34,952
4,806
242
4,911
651, 274
19,470
118
23
1,318
601
386, 649
15,495
2,130
84
686
207, 784
9,241
Total textiles and their products Leather and its manufactures:
Boots, shoes, slippers, etc
Other leather products—Cloves, saddlery,
harness, trunks, finishing and tanning
leather, etc.
15, 656
6,129
3, 861, 351
171, 425
23, 570
1, 034
9, 254
2, 045, 223
100, 258
273
1,134
1,281
505
585
558, 076
377, 548
28. 281
19,485
2,679
91
107
591
667
130, 276
98,160
5,215
3,794
38
29
Total leather and its manufacturesRubber products:
Tires and tubes, etc
Other rubber goods—Boots, shoes, hose, and
artificial rubber.
Bone, celluloid, and ivory products
2,415
1,090
935, 624
47, 766
6, 568
198
1,258
228, 436
9,, 009
67
92
417
27
211
484, 606
152, 021
16, 046
11, 054
2,206
1,520
207
94
182
71,946
34, 836
4,058
2,305
27
24 28
123
35, 235
3,020
415
22
70
10, 703
Total rubber products..
Forest products:
Sawmill and planing-mill products
Other wood products—Carriages, wagons,
furniture, baskets, etc.
632
671,861
30,119
4,141
323
312
116,885
6,9S9
34
309, 415
424, 973
16,020
21,948
2,203
3,018
73
149
1,915
2,284
310,079
273, 920
34, 611
19, 015
133
127
37, 968
5,221
222
4,199
583, 999
53, f.28
260
92, 321
140,037
12, 686
19,255
266
463
938
7, 495
326,145
559. 876
31.994
45, 978
32
522 33
Total forest products.
Paper, pulp and products...
Printing, publishing, and allied industries..
For footnotes see p 39.
3,072
3,771
1,024
1,360
6,843
2,384
2,308
12,912
1,296
4.895
734,389
1, 165, 444
.1,468,211
23
31 24
29
30
31
TABLE 2 (Table 3, Statistics of Income for 1934, Part 2).—Corporations, 1935, by major industrial groups and subgroups: number of returns,
gross income, net income or deficit, income tax and excess-profits tax, for returns with net income and with no net income; also number of
inactive corporations—Continued
00
ay
[Money figures in thousands of dollars]
Returns with no net income
Returns with net income
Industrial groups
34
35
36
37
38
Manufacturing—Continued.
Chemicals and allied products:
Petroleum and other mineral oil refining
Chemicals proper, acids, compounds, etc
Paints, pigments, varnishes; carbon black,
lamp black, putty, rosin, turpentine.
Allied chemical substances—Drugs, oils,
soaps, and other chemical substances,
Fertilizers--.
Total chemicals and allied products
39
40
41
4?
43
44
45
46
47
48
49
50
51
Stone, clay, glass, and related products
Metal and its products:
Iron and steel—Products of blast furnances,
rolling mills, foundries, etc.
Locomotives and railroad equipment
Motor vehicles, complete or parts
Factory machinery—Food production machinery; leather, metal, paper, printing,
textile, and woodworking machinery.
Agricultural machinery and equipment
Electrical machinery and equipment
Miscellaneous machinery—Building, construction, gas, and mining machinery and
Household machinery and equipment, etc
Office equipment, etc
.
Metal building material and supplies
Hardware, tools, etc
Precious-metal products and processes, jewelry, etc.
Total
number
of
returns
Number
853
631
1,098
304
324
522
1, 774,092
657, 586
345,446
63,487
96,020
32,007
4,986
1,814
1, 652,361
401
192
7,969
3,156
Number of
returns
with no
income
dataInactive
corporations
Excessprofits
tax 2
Number
8,730
13. 203
4,401
145
178
1G9
447
274
521
2,403,014
36,977
45, 988
84, 692
2,736
3,419
102
33
55
34
3i>
3b
167,428
23, 018
393
2,913
339, 792
20,073
259
37
116, 246
7,187
988
45
195
56, 750
3,411
14
38
4, 545, 732
366,128
50, 340
929
4, 350
2, 882, 520
114, 331
463
31,216
190
Gross
income 1
Net income Income tax
income l
Deficit
i
in
H
a
Ul
39
3,967
1,253
769,225
88, 695
12,196
470
2,524
248. 437
2,194
973
l f 316,402
83, 985
11, 548
538
1,111
1, 231,173
48, 517
110
40
196
873
1,528
65
325
740
31,846
3, 938,329
370, 797
4,094
262, 782
41, 417
563
36,133
5,691
17
4, 922
531
124
497
755
131,211
274, 201
113,802
10, 431
22,218
9,525
7
51
33
41
42
43
502
692
2,415
224
313
976
367, 590
603,808
607,313
46,979
61, 018
54, 694
6,460
8,390
7,520
196
88
469
239
354
1,327
44, 236
167, 319
253,104
3,880
8,162
19, 537
39
25
112
44
45
46
1,281
400
2,195
2,745
859
488
177
807
1,360
302
377,118
256, 307
435, 643
715, 246
244,180
38, 477
32, 737
30, 626
78, 643
10,833
5,291
4,501
4,211
10, 813
1,490
94
95
214
624
38
753
216
1,316
1,275
542
96, 868
27,936
165, 743
164, 550
57,897
6,559
2,989
11,814
12, 361
3,257
40
7
72
110
15
47
48
49
bO
51
3
o
o
52
64
65
67
Other metals, products, and processes; combinations of foundry and machine shop.
Total metal and its products
..,..>..
Manufacturing not elsewhere classified:
Radios, complete or parts
Musical, professional, and scientific insturments, optical goods; canoes; electric
launches, etc.
Airplanes, airships, seaplanes, etc
Total manufacturing not elsewhere classified.
Grand total manufacturing
Construction:
Building and construction above ground—installing machinery, moving, wrecking, razing, etc..
Other construction underground and on surfaceBridge building, water-front construction, related industries, etc.
Shipbuilding and repairing
3,976
19,858
252
6,217
1,676 I 1,388,293
128,217
8,426 | 10,652,872 j
874,503 I
114
2,005
126, 580
933,043
17,630 i
375 j
174,179
52
9,857
8,202
10,702
2,902,219 j
189,108
728
1,144 !
13,408
8,319
97, 514
120,240 |
143
679
125
3,459
68,947
255,602
3,858
22,144
13
753
53
54
55
144
25
23, 779
3,064
421
92
27, 788
4,430
27
6,613
2,144
1,083, 382
108,897
14, 973
888
3,676
352, 338
30,433
793
i6, 213
37,976
35, 413, 610
2,482, 773
341, 355
15, 528
53, 700
12, 484,183
11,169
2,547
201,081
9, 214
1,271
94
7, 831
315,176
22, 363
791
6,303
1,634
456, 880
35, 969
4,945
608
3,836
338, 483
28,620
833
668,326 j
4, 537
49, 769
4,754
13
703, 428
55, 737
373
520
! 859 572
'' 488^ 904
300, 631
86,938
4
494
215
1,170
237,060
42,969
221
184
2,710
11
128
367
1,675
16, 647
90,437
4,006
10, 390
113
263
4,150
241
5,875
397,658
20,864
690 |
9,980
4,090,279
465, 798
58
1,637
Q
1,703
141
215
61
71, 637
4,047
556
Total construction.
Transportation and other public utilities:
Transportation and related activities:
Steam railroads
.
Electric railways—Pullman cars, refrigerator, stock, poultry, and fruit cars; lessors.
Water transportation and related activities—Ocean and fresh-water lines, canals,
docking, drawbridge operating, lighterage,
salvaging, piloting, wharfage, lessors.
Aerial transportation
Autobus lines, taxicabs, and sight seeing
companies.
Cartage and storage—Food storage; packing
and shipping, local transportation and related industries, n. e. c.
17, 687
4,242
789, 599
49, 260
6,772
710
576
1,383
199
369
994, 374
274,183
101, 349
75, 238
14, 023
10, 366
67
2,259
868
390,786
45,917
6,314
545
2,821
883
28,136
180, 790
1,341
19, 725
10, 261
3,778
414, 485
30, 202
Total transportation and related activities.
Other public utilities:
Electric light and power companies and conbined electric light and gas companies.
Gas companies, artificial and natural
Pipe line companies..
„
Telephone and telegraph companies
For footnotes see p. 39.
17,845
6,162
182, 753
1, 621
773
414
145
1,363
2,193
11,8
O
in
59
60
8
62
63
64
!
1,007
283
3,502 i
273,772 j
37, 747
2, 031, 653
288, 399
39,376
585
463,039
36,439
283
65
404, 398
298, 645
1,188,185
47, 856
98, 253
161, 363
6,580 j
13,510
22,187 I
507
104
225,918
30,818
151, 576
29,026
3,505
11, 529
34
240
66
67
68
123
5
00
TABLE 2 (Table 3, Statistics of Income for 1934, Part 2).—Corporations, 1935, by major industrial groups and subgroups: number of returns,
gross income, net income or deficit, income tax and excess-profits tax, for returns with net income and with no net income; also number of
inactive corporations—Continued
[Moneyfiguresin thousands of dollars]
Returns with net income
Industrial groups
69
70
71
Transportation and other public utilities—Contd.
Other public utilities—Contd.
Radio broadcasting companies
Water companies
__
Terminal stations, toll bridges, and toll roads,
irrigation systems, etc.
Total other public utilities
7°
73
7\
75
76
77
78
79
80
81
Total transportation and other public utilities.
Trade:
Wholesale
-Retail
...
Wholesale 8nd retail
Commission
_
All other trade—Auto wreckers, film exchanges,
pneumatic tubes, trading stamps, garages for
storage, repair service, etc.
Total trade
Service:
Domestic service—Laundries, hotels, restaurants,
operating apartments or office buildings, etc.
Amusements:
Theaters, legitimate, vaudeville, etc
Motion-picture producers
Motion-picture theaters
_
Other amusements—Circuses, golf links,
race tracks, pleasure resorts, etc.
Total amusements
_
». . .
Total
number
of
returns Number
Gross
income L
Returns with no net income
Net income Income tax
Excessprofits
tax2
Number
Gross
income1
Deficit
CO
00
Number of
returns
with no
income
dataInactive
corporations
505
2,014
1,660
238
1,008
497
86,176
77,101
151,160
11,880
14, 709
32,911
1,634
2,020
4,526
81
21
49
222
736
820
10,681
15,896
76,496
2,015
2,721
21,016
45
270
343
10,592
4,438
4,237,317
653,372
89,833
436
4,853
974,425
106,249
1,301
28,437
10, 600
6, 520,071
927,144
127, 580
1,125
14, 833
5,064, 703
572,047
3,004
29, 072
86,270
18 850
6,130
9,104
13, 640
31,379
8,191
2.489
2,114
11, 816, 255
11,174,797
3, 793,353
542, 704
255,847
240,179
364,432
114.765
33, 035
15,016
33, 013
50,102
15, 773
4,542
2,064
1,372
1, 266
166
64
14, 725
52.173
10, 3o9
3,341
6,460
3, 403, 523
4,180, 072
1, 897. 370
213,497
252,399
84, 737
131,412
59,161
11, 257
14,685
149,426
57,813
27, 582,955
767.428
105, 495
3,311
87, 068
9, 946, 860
301, 252
4,545
24, 311
4,747
618, 678
33, 269
4, 574
175
18, 686
1, 227, 885
193, 984
878
77
543
259
3,811
5,673
93
69
1,727
894
9,153
147. 227
278, 875
73,417
933
8, 524
22. 795
8,198
128
1,172
3,133
1,125
2
46
137
50
294
145
1,901
3,832
9,127
66, 532
196, 916
83, 301
2,549
3,698
20, 231
11, 509
156
45
183
947
80
81
10, 286
2,783
508, 673
40, 449
5,558
235
6,172
355, 875
37, 987
1,331
69
70
71
h1
443
707
2,718
290
300
530
o
7?
73
74
75
76
78
79
o
o
Professional service—Curative, educational, engineering, legal, etc.
Business service—Detective bureaus, trade
shows, mimeographing, publishing directories,
advertising, etc.
Other services n. e. e.—Auto camps, cemeteries,
board of trade, newspaper syndicates, photographers, c o n c e s s i o n a i r e s of amusements,
cloakrooms, etc.
Total service.
Total banking and related industries^
Insurance companies:
Life insurance—Mutual or stock companies.
Other insurance—Accident, casualty, fire,
marine, title, etc.
Total insurance companies.
Total finance
94
Nature of business not given
Grand total
1,995
139,443
13,266
1,824
123
4,368
114, 512
18,880
981
7,087
2,223
426, 623
29,992
4,120
151
3,937
137,442
11,401
927
5,532
1,610
110,518
10,471
1,438
45
3,126
68, 071
6,266
796
54, 560
„
Finance:
Banking and related industries:
National banks
State and private banks, savings banks, loan
and trust companies.
Joint-stock land banks. _._
_....
Loan companies—Building and loan associations; mortgage, note or pawn brokers; insurance agents, promoters, foreign exchange.
Investment trusts, stock syndicates, stock
pools, holding companies, etc.
Stock and bond brokers, investment brokers,
investment bankers.
Real estate and realty holding companies—
Realty development, holding, or leasing;
realty trust, etc.
7,344
13,358
1,803,935
127, 448
17, 514
729
36, 289
1; 903, 785
268, 518
4,913
6,549
13,487
1,999
3, 722
177, 569
155, 725
23, 719
22, 556
3, 260
3,101
119
145
3,901
7: 282
539,472
499,821 |
145,238
141,589
649
2,483
44
23,329
2
8,085
348
555, 262
39
140, 705
19, 347
744
38
11,462
4,197
201, 217
12.093
103,268
4
3,782
8,402
2,128
986,407
166, 423
22,878
896
5,863
1,401, 497
323,157
411
2,833
1,192
177, 699
35,314
4,856
579
1,470
171, 218
61, 586
171
15,355
410, 049
82, 705
11, 367
396
60,417
790, 722
356, 643
11, 213
141,629
32,483
2, 463,059
471,461
64,812
2,879
90, 433
3, 608,144
1,143, 574
18, 713
665
1,549
136
612
52,496
1,123,192
2,989
128,824
410
17, 706
475
794
843, 219
413,114
103, 580
134,439
54
87
H
>
q
o
2,214
......
84
748
143,843
33, 231
i, 175, e
131,813
603, 274
82,928 j
1,269
18,116
3, 638, 747
14,961
163
1,771
560
77
533, 631
164, 231
77,441, 506
5,164, 723
710,156
2.886 ]
6 i
24,969
91,702
1,560
312,
1, 256, 333
4,864,478 |
3,720
36, 494, 664
238, 019
197
1,381,593
o
o
18, 910
9,168
3, 468, 774
13, 238
94
56, 518
1
Gross income corresponds to total income, as reported on face of return, plus "cost of goods sold" and "cost of operations " Interest received on Liberty bonds, etc. (item 11 on
face 2of return), has been deducted from gross income, as this item was not included in gross income for prior years.
Includes excess-profits tax of $19,584 on returns with no net income for income tax purposes. The credit for interest received on certain obligations of the United States and its
instrumentalities, which is allowed against net income in the computation of the income tax, is not allowed against net income in the computation of the excess-profits tax. (Bee
article l(d) of Treasury Decision 4469, "Regulations relating to the excess-profits tax imposed by section 702 of the Revenue Act of 1934.")
NOTE.—n. e. c , not elsewhere classified
CO
CO
40
STATISTICS OF INCOME
TABLE 3 (Table 2, Statistics of Income for 1934, Part 2).—Corporations, 1935, by
ductions, compiled net profit or net loss, net income or deficit, income tax, excesstvith net income and with no net income
[Money figures in
[For text defining certain items and
P A R T I. ALL
Industrial groups
Manufacturing
Agricul-
Aggregate
Number of returns
1
477,113
9,055
13,715
91,676
85, 331, 621
19, 7S9. 605
2, 566,032
1, 643,129
469,908
1,122, 288
436, 967
109, 610
4,104
11, 247
2,872
14, 603
2,191, 766
268,926
14,753
23, 339
21,066
33,145
46, 055, 311
570,164
130,012
107,758
54,912
366,473
3,013, 587
713,546
10,214
1,491
71,711
8,623
613,164
48,812
114,649,717
591,110
2, 633, 330
47,946,605
66, 279, 468
9,190, 349
2, 344, 955
1, 542. 056
3, 260, 905
2, 627, 719
964,984
3, 351, 724
349,184
238, 969
19, 076, 321
29S, 660
29.968
18,616
15.191
20. 473
21,558
4,803
30, 806
6.131
2,945
126, 606
1, 470,166
127, 785
42, 639
13,267
73. 945
92, 546
11,991
164, 454
198,104
5, 948
363, 095
34, 883,534
247, 289
812,046
282.493
342. 360
958, 308
197,460
1, 288,112
128,303
19, 355
6,308,923
_. 109, 226, 634
575, 757
2,563,939
45,468,183
5, 423, 083
1,695,950
15,354
3,648
69, 391
io 10,943
2,478,422
1,816,447
710,156
24,969
6,036
160
22,400
515
341,355
15,528
. 735,124
6,196
22,915
356,882
4,687,959
5,940, 620
135, 851
9,158
34, 668
3,548
46,475
257,058
3,125
2,121.540
2,193,481
49,688
Receipts, taxable inccme:
Gross sales *
Gross receipts from operations 2
Interest
Rents ._
Net capital gain
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations 3__
3
4
5
6
T
8
9
Total compiled receipts *
10
_
Deductions:
Cost of goods sold 5
Cost of operations 6
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax 7
Bad debts
Depreciation
Depletion
Net capital loss 8
Other deductions
11
1?
13
14
16
17
18
19
20
21
Total compiled deductions
22
23
24
Compiled net profit or net loss (10 less 22)
Net income or deficit
715
26
Income tax
Excess-profits tax «
Total tax
27
28
29
30
Compiled net profit less total tax (23 less 27).._
Cash dividends paid
_.
_ ._
Stock dividends paid
For footnotes, see p. 50.
ture and Mining
and
related
indus- quarrying Total mantries
ufacturing
_.
41
STATISTICS OP INCOME
major industrial groups: number of returns, compiled receipts and compiled deprofits tax, total tax, and dividends paid, for returns in the aggregate and for those
thousands of dollars]
describing returns included, see pp. 1-4 and 9-11 j
RETURNS
Industrial groups—Continued
Manufacturing—Continued
Food and
kindred
products
Liquors a n d
beverages
(alcoholic
and nonalcoholic)
Tobacco
products
Textiles and
their products
Leather and
its manufactures
Rubber
products
Forest products
i
12, 595
2,947
367
15,383
2,348
598
6,583
i
9,116, 858
65, 393
16, 230
13, 742
4,174
47,186
1,299,636
9,410
1,767
3,497
1,166
5,758
1,087, 756
1,484
1,093
747
897
3,123
5, 755, 576
85,488
7,473
11, 700
4,960
32, 688
1,147,116
5,718
1,721
1,231
556
6,016
772,899
1,376
4,493
550
492
3,566
1,268,293
21,344
4,405
6,039
3,647
10, 254
2
3
4
5
6
7
64, 876
4,083
2,465
846
16, 367
1,717
8,689
4,716
1,702
434
5, 371
270
4,407
1,402
8
9
9, 332, 542
1, 324, 546
1,113,183
5,911,290
1,164,494
789, 017
1, 319, 790
10
7, 508, 255
24,158
90. 731
38.011
48,718
126, 259
21,983
138,873
289
1,957
1,002,484
747, 761
3,103
23,819
4, 632
9,075
192,390
8,433
27, 748
9
664
212,133
820,126
299
6,359
1,559
4, 907
60,115
1,383
6,530
951,384
2,506
25,605
7,808
4.597
7,002
4,680
12,071
84
342
107, 522
545, 212
355
8, 392
3,851
8,603
30, 233
2,526
22,138
34
95, 588
4, 739, 015
56, 889
143,861
40, 557
32,459
90, 357
17, 227
118,430
107
3,896
583,923
206
138, 731
978,964
11, 594
39,975
8,187
18, 377
21, 069
12,356
39, 680
23,008
2,973
173, 458
II
12
13
14
15
16
17
18
19
20
21
9,001, 718
1, 229, 766
996, 901
5,826, 719
1,123,601
760, 246
1,329, 642
22
330,824
261,864
94,780
91,469
116,282
98,198
84,571
71,166
40,893
38, 757
28, 771
23,130
io 9, 852
15, 661
23
24
43,670
1,584
14,826
905
13,670
44
23, 570
1,034
6,568
198
4,141
323
5,221
222
25
26
(15)
10
45, 253
15, 731
13, 714
24,604
6,766
4,465
5,442
27
285, 571
264, 709
3-277
79,049
57, 715
1,353
102,568
96,711
183
59,967
101,875
7,495
34,127
23,394
940
24,307
16,422
54
" 15, 294
36,072
777
28
29
30
42
STATISTICS OF INCOME
TABLE 3 (Table 2, Statistics of Income for 1934, Part 2).—Corporations, 1985, by
ductions, compiled net profit or net loss, net income or deficit, income tax, excesswith net income and with no net income—Continued
[Money figures in
P A R T I. ALL
Industrial groups—Continued
Manufacturing—Continued
Paper,
pulp, and
products
Number of returns—
Receipts, taxable income:
Gross sales l
Gross receipts from operations 2
Interest
Rents—.
Net capital gain.
_
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations.
Interest on tax-exempt obligations 8
10
12
13
14
15
16
17
18
19
20
21
Total compiled receipts 4
2,234
1, 452, 687
6,640
7,319
3,025
1,857
8,645
11,415
1,517
Printing,
Stone,
publishing, Chemicals clay, and
and allied and allied glass prodproducts
industries
ucts
12, 390
7,506
1, 858, 720 6,938, 786
104, 476
131, 952
5,421
25, 578
11, 497
22,019
12, 435
2,877
40,181
20, 570
3.777
977, 619
11, 004
2,785
2,929
4, 805
7,592
24, 527
3,670
257, 302
6,850
10,927
2,101
1,493,106
2, 031, 757
7,435,103
1,019,763
Deductions:
Cost of goods sold »
Cost of operations 6___
Compensation of officers
Rent paid on business property
Interst paid—
Taxes paid other than income tax 7..
Bad debts
._
Depreciation
Depletion
Net capital loss 8
r _.
Other deductions
1,048,591
1,723
33,152
11,603
23, 897
19, 711
10, 727
59,114
2,789
402
208,137
1, 223,978
54,377
97,186
35,106
18,933
22, 771
21, 609
47, 677
26
960
386,878
4,806,179
60,801
70, 562
50,166
53, 898
202, 824
32, 671
290,934
93, 313
1,337
1, 256,419
656, 580
3,046
25, 607
4,441
10, 996
15,261
5,866
57, 533
1,958
1,037
166,930
Total compiled deductions..
1,419,847
1,909, 502
6,919,153
949, 255
23
24
Compiled net profit or net loss (10 less 22) _
Net income or deficit
73,260
60,327
122, 255
94,058
515,949
251, 797
70,507
57,480
25
26
12, 686
266
19, 255
463
50, 340
929
12,196
470
27
Income tax
Excess-profits tax •_.
Total tax.
12,952
19,717
51, 269
12,666
28
29
30
Compiled net profit less total tax (23 less 27).
Cash dividends paid
_
Stock dividends paid
60,308
58,457
2,878
102, 538
96,946
3,924
464, 681
570, 738
10,869
57,842
63,112
1,303
22
For footnotes, see p . 50.
43
STATISTICS OF INCOME
major industrial groups: number of returns, compiled receipts and compiled deprofits tax, total tax, and dividends paid, for returns in the aggregate and for those
thousands of dollars ]
RETURNS—Continued
Industrial groups—Continued
Manufacturing—Con.
Metal and
its products
Manufacturing not
elsewhere
classified
Construction
Transportation and
other public
utilities
19,128
5,820
10,050
25, 433
114,881
49, 647
12,991,551
112, 959
47,383
27, 257
15,042
165, 928
1,387,814
12, 920
4,345
3,524
2.004
14, 967
526, 926
927, 535
5, 495
8,612
6,047
12, 270
11, 032, 481
113,937
100, 623
10, 618
58, 846
36,120, 652
812,135
92, 421
87, 771
15, 89J
329,213
3, 462, 561
14,169
165, 258
9,572
39, 328
194,972
19, 699
10,145
1,505
6,140
2,880
268, 269
19, 240
71, 731
9,780
13, 574, 790
1,437, 224
1,495, 907
11,604,014
9,897, 439
24,344
200, 064
65, 258
99, 875
152, 605
49, 376
431,617
6f605
3,752
1, 723, 788
960, 051
4,095
46, 733
11,313
8,025
17, 709
8,626
35, 768
113
1,747
252, 930
427, 387
690, 409
76, 576
10, 831
12, 067
11, 469
11,254
43, 237
448
2,104
207, 520
5, 978, 083
95,164
195, 776
1, 341, 956
717, 537
48, 599
1, 032, 882
12, 016
26, 721
1, 512, 673
12, 654, 723
1,347,110
1,493, 363
920,067
705,395
90,114
78, 464
120,240
8,202
14, 973
888
Trade
Professional,
amusements,
hotels, etc.
FinanceBanking,
insurance,
real estate, Nature of
business
holding
companies, not given
stock and
bond brokers, etc.
124,933
1,723
1
1 2, 602, 706
2
2,190, 776
1, 138, 383
348, 6S9
267,257
3,485
364
138
241
1,152
2
3
4
5
«
7
16, 832
1,897
1, 955, 414
620, 796
111
28
ft
9
37, 539, 595
3, 709, 617
9,124, 020
5, 519
ia
29,199, 721
307, 966
744, 841
629, 448
143, 533
244, 869
200, 691
262, 612
1,308
9,331
5,247, 589
1,462, 944
179, 273
228, 027
200, 927
149, 097
34, 927
210, 504
255
13, 618
1,352, 387
1 343, 922
2
is 375,125
166, 772
1,122, 793
432, 045
452, 727
318,467
2, 614
158, 366
u 3, 953, 299
10, 961, 408
36,991,908
3,831, 958
2, 543
io 6, 477
642, 606
355,097
547, 687
466,176
6,772
710
127, 580
1,125
105, 495
3,311
ii
12
13
14
15
Ifi
17
18
19
1,984
675
250
2,850
291
2, 532
650
5
521
4,230
21
" 7, 326,130
13,988
22
io 122, 340
io 141, 070
1, 797, 891
io 778,319
1° 8,470
io 8, 608
23
24
17, 514
729
82,928
2,886
77
6
25
26
m
128,442
15, 861
7,482
128, 705
108, 805
18, 243
85, 813
83
27
791, 624
733,257
14,437
74, 253
74, 074
2,198
io 4,939
29, 754
4,228
513, 900
1,283,800
5,553
438,882
510,102
28, 640
ii 140. 583
71,135
2,275
1, 712, 078
1, 559, 639
38,386
H 8,552
983
409
28
29
30
44
STATISTICS OF INCOME
TABLE 3 (Table 2, Statistics of Income for 1934, Part 2).—Corporations, 1935, by
ductions, compiled net profit or net loss, net income or deficit, income tax, excesswith net income and with no net income—Continued
[Money figures in
P A R T II. R E T U R N S
Industrial groups
Manufacturing
Aggregate
Number of returns
Receipts, taxable income:
Gross sales i
Gross receipts from operations 2
Interest
Rents
_
Net capital gain
Other receipts
_
Receipts, tax-exempt income:
Dividends from domestic corporations.
Interest on tax-exempt obligations 3
10
164,231
62,442, 724
11,049,436
832,843
555, 698
297, 604
770,880
Agriculture and Mining
related
and
indus- quarrying Total mantries
ufacturing
2,321
4,527
37,976
267,338 1,134, 796 34,211,723
65, 297
123,887
258,172
2,172
6,951
86,317
5,060
10,083
64,552
1,498
13, 020
40, 220
10,548
15,120
299,737
1, 492, 322
197, 446
7,052
1,140
77, 638,952
360,105
1,336, 878 35,454, 270
842, 917
312, 824
379,414
846, 388
150,680
460,334
323,983
905, 432
179,475
16,181
366,833
170, 366
7.150
8,864
12, 211
5,167
11, 396
1,580
17,164
2,487
149
71,477
707, 509 25, 374,074
44, 282
65,129
22,149
548,738
5,302
157,369
15,136
170,913
33,021
651,786
3,452
112,100
70,826
816, 346
108, 391
59,932
546
4,518
130, 306 4,517,042
Total compiled deductions
70, 784,461
308,012
Compiled net profit (10 less 22).
Net income (23 less 8 and 9)
Income tax
_
Excess-profits tax
6, 854, 491
5,164, 723
710,156
24,949
52,094
43,901
6,036
160
Total compiled receipts *_.
Deductions:
Cost of goods sold 5
Cost of operations 6
Compensation of officers
Rent paid on business property
Interest paid
._
Taxes paid other than income tax 7
Bad debts
Depreciation
Depletion.Net capital loss 8
Other deductions
_
Total tax.
Compiled net profit less total tax (23 less 27)..
Cash dividends paid
_
Stock dividends paid
For footnotes, see p. 50.
27, 997
5,024
1,140,921
452,890
40, 660
32.477,947
195,957
162,936
22, 400
515
2,976, 323
2,482, 773
341, 355
15, 528
356,882
735,105
6,196
22,915
6,119,386
4,651,002
112,162
45,898
31,603
3,544
173,042
196,525
2,824
45
STATISTICS OF INCOME
major industrial groups: number of returns, compiled receipts and compiled deprofits tax, total tax, and dividends paid, for returns in the aggregate and for those
thousands of dollars]
WITH NET INCOME
Industrial groups—Continued
Manufacturing—Continued
Food and
kindred
products
Liquors and
beverages
(alcoholic
and nonalcoholic)
Tobacco
products
Textiles and
their products
Leather and
its manufactures
Rubber
products
Forest products
5,312
1,466
139
6,129
1,090
286
2,384
1
7,187, 264
37, 585
11, 870
9, 323
2,899
40,360
1,090, 007
4, 756
1,545
2,841
914
4,850
1,054,734
1,204
932
714
853
3,006
3, 785,139
33,421
5,122
5,869
2,916
22, 077
924,889
2,819
1,200
729
435
4,747
657,845
979
4,111
324
418
2,924
713,110
5,727
2,144
2, 555
2,178
5,127
2
3
4
5
6
51,132
3, 596
2.387
772
16, 341
1,678
6,807
3,987
804
351
5,261
173
3,547
897
8
9
7,344, 030
1,108, 073
1, 079, 462
3, 865, 338
935,975
672. 034
735, 286
10
5,880, 774
8,533
60,472
24, 677
30,395
93,816
14.043
97.186
184
565
760, 986
620, 374
360
18, 246
3,088
6,300
156,970
5,774
20,406
3
255
165,313
795, 664
119
4,941
1,270
4,734
58,858
1,135
6,124
757,608
359
18,504
5,575
3,149
5,783
3,131
9, 265
24
99
83,557
453, 010
101
6,306
3,364
7,623
25, 584
1,543
17,815
15
89,163
3, 028, 596
20 244
90,692
22, 215
14, 752
47, 618
9,671
69, 954
84
535
378, 760
47
121,088
532,400
2,191
21, 287
3,791
5,667
10, 246
4,613
18,596
10,479
228
83,375
11
12
13
14
15
16
17
18
1Q
20
21
6,971, 631
997, 090
962, 024
3, 683,120
887,054
636,481
692,874
22
372,399
317, 671
43, 670
1,584
110, 982
107,824
14,826
905
117,438
99, 419
13, 670
44
182, 218
171,425
23, 570
1, 034
48.921
47, 766
6,568
198
35, 553
30,119
4,141
323
42,412
37,968
5,221
222
23
24
25
26
(15)
7
45, 253
15, 731
13,714
24, 604
6,766
4,465
5,442
27
327,146
246, 537
3,111
95, 251
57, 094
1,328
103, 725
95. 728
183
157, 615
91, 743
6,431
42,155
22,339
938
31,088
15,417
50
36,969
29,713
506
28
2£
30
78019—38
4
46
STATISTICS OF INCOME
TABLE 3 (Table 2, Statistics of Income for 1934, Part 2).—Corporations, 1985, by
ductions, compiled net profit or net loss, net income or deficit, income tax, excesswith net income and with no net income—Continued
[Money figures in
PART II. RETURNS WITH
Industrial groups—Continued
Manufacturing—Continued
Printing,
Stone,
Paper,
Chemicals clay, and
pulp, and publishing, and allied glass prodand allied
products industries
products
ucts
Number of returns..
1,296
Receipts, taxable income:
Gross sales I
__
...
Gross receipts from operations 2
Interest
_
Rents
_._
__
Net capital gain
_._
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations.
Interest on tax-exempt obligations 3
10
Total compiled receipts
4
Deductions:
Cost of goods sold B
5
Cost of operations
_
Compensation of officers
_
Rent paid on business property
Interest paid...
_ 7
Taxes paid other than income tax
Bad debts
Depreciation.
Depletion
Net capital loss 8
Other deductions
Total compiled deductions.
Compiled net profit (10 less 22)
Net income (23 less 8 and 9).
Tncome tax
Excess-profits tax
Total tax
Compiled net profit less total tax (23 less 27)
Cash dividends paid
Stock dividends paid
For footnotes, see p. 50.
4,895
3,156
1,253
1,143,494
4, 397
2, 359
1,647
770
7,111
1,383, 235
42,186
4,309
7,164
2,339
16, 942
4, 288, 533
32, 098
12, 845
12, 556
8,715
27, 734
739,449
7,052
1, 882
1,527
4, 294
4,390
5, 666
1,284
12, 036
3,485
163,251
6,103
10,631
1,546
1,166, 729
1,471,695
4, 551, 835
770, 770
797, 671
1,286
25,910
7,022
11,632
13,884
4. 225
43, 646
1, 464
203
160, 514
873, 069
17,005
62, 347
21,432
10.135
18, 090
13, 328
31,8«8
18
433
268, 395
486.081
1,010
15, 260
2,551
3,537
9,376
3,176
34,139
1,223
165
113,380
1, 067. 457
1,316, 138
4,016,353
669,899
99. 271
92. 321
12, 686
266
155, 557
140.037
19,255
463
535, 482
366,128
50, 340
929
100,872
8R. 695
12,196
470
12, 952
19, 717
51, 269
12, 666
86,319
56, 661
1,448
135,840
94,177
3,885
484, 213
442, 375
10,682
88,206
60,122
1,299
47
STATISTICS OF INCOME
major industrial groups: number of returns, compiled receipts and compiled deprofits tax, total tax, and dividends paid, for returns in the aggregate and for those
thousands of dollars]
N E T INCOME—Continued
Industrial groups—continued
Manufacturing—contd.
ManufacMetal and turing not
its products elsewhere
classified
Construction
Transportation and
other public
utilities
Trade
ServiceProfessional,
amusements,
hotels, etc.
Finance—
Banking,
insurance,
real estate, Nature of
holding
business
companies, not given
stock and
bond brokers, etc.
8,426
4,242
10,600
57,813
13, 358
33,231
163
1
10,192,503
78,652
35,340
17,447
11,861
148,550
1,051,519
7, 294
2, 657
1, 858
1,62S
11, 918
198,075
574,910
2,391
2,434
3,316
6,417
6,158,895
64. 361
60,108
5,476
33,888
26. 630, 793
506. 521
73,904
52, 228
9,971
247, 782
1,739,955
5, 734
26, 598
6,017
16, 209
1 1, 620,864
2
590,853
334, 599
217,899
140, 774
937
159
36
186
405
2
3
4
5
6
7
16%, 5 2 0
15, 529
6, 508
1,260
2,056
1,658
197,344
13, 796
61, 756
7,850
9,421
941
733, 758
126, 366
49
11
8
9
10,668,401
!
\
!
2,144
L 084, 642
791, 256
6, 533,866
27, 590,805
1,804, 876
3, 765,113
1,782
10
7,631,861
10,165
141,512
32,880
48,192
105, 361
33,003
286,863
4,422
1,153
1,314,438
701, 548
1,768
31, 496
6, 575
4,542
12,159
4,521
23,457
87
161
181, 663
152, 524
411,366
34, 596
4, 077
3,875
5,299
3, 038
21, 352
330
248
101, 577
2,810,158
57, 213
95, 543
573.063
432, 845
20,432
668,050
6,759
835
730,684
21,438,444
146,121
456, 595
412, 906
85, 216
161,120
119, 949
168,892
355
2,930
3, 761, 245
723, 845
94, 009
95,179
31,198
37, 603
9,452
58, 524
101
487
616,669
1 104,456
2
t3 157,024
63,761
266,086
127, 233
53, 969
84,086
1,116
6,464
i* 1,437, 520
317
227
39
25
31
12
191
3
4
314
11
12
13
14
15
16
17
18
19
20
21
9,609,849
967,977
738, 283
5, 395, 583
26, 753, 772
1, 667,066
1*2,301,716
1,163
22
1,058, 553
874,503
120,240
8,202
116, 665
108,897
14,973
888
52,973
49, 260
6,772
710
1,138, 283
927,144
127, 580
1,117
837, 034
767,428
105,495
3,311
137,810
127,448
17, 514
729
1,463, 398
603, 274
82,928
2,874
619
560
77
6
23
24
25
26
128,442
15,861
7,482
128,697
108,805
18, 243
85,802
83
27
930,111
566,816
13,656
100,803
71, 540
1,981
45,491
21,083
3,835
1,009, 586
1, 200.974
5,290
728, 229
465,333
25, 274
119,567
64,428
1,911
1,377,596
820,316
23,987
537
480
28
29
30
48
STATISTICS OF INCOME
TABLE 3 (Table 2, Statistics of Income for 1934, Part 2).—Corporations, 1985, by
ductions, compiled net profit or net loss, net income or deficit, income tax, excesswith net income and with no net income—Continued
[Money figures in
PART III. RETURNS
Industrial groups
Aggregate
Agriculture and
related
industries
Manufacturing
Mining
and
quarrying
Total manufacturing
312,882
6,734
9,188
53, 700
22, 888, 897
8, 740,170
1, 733,189
1,087, 431
172, 305
351, 408
169,629
44, 313
1,932
6,187
1,375
4,055
1, 056, 970
145,040
7,802
13, 256
8,046
18, 025
11,843, 588
311,992
43, 695
43, 206
14, 692
66, 736
1, 521, 265
516,101
3,162
351
43, 714
3, 599
160, 274
8,152
37, 010, 765
231,005
1, 296,452
12, 492, 335
18, 436, 551
4, 877, 525
965, 541
695, 668
2,110,225
1,167, 385
641, 001
1, 446, 292
169, 709
222, 788
7, 709,487
128, 294
22, 817
9, 752
2, 980
15, 306
10,162
3, 223
13, 641
3,645
2,796
55,129
762, 657
83, 503
20,490
7,964
58, 809
59,525
8, 539
93, 628
89, 713
5,401
232, 789
_
38, 442,173
267,745
1,423,018
Compiled net loss (10 less 22)
._,
Deficit (23 plus 8 and 9)
_
Excess-profits tax 8
Compiled net loss plus excess-profits tax (23 plus
25)
Cash dividends paid...
_
Stock dividends paid
1, 431, 408
3,468, 774
20
36, 740
40,253
126, 566
173,879
497, 901
666,326
1, 431, 427
1,289, 618
23, 689
36, 740
3,064
4
126, 566
60, 533
301
497, 901
343,221
4,190
Number of returns
Receipts, taxable income:
Gross sales i___
Gross receipts from operations 2
Interest
Rents
Net capital g a i n . . .
Other receipts
_
Receipts, tax-exempt income:
Dividends from domestic corporations
3
Interest on tax-exempt obligations
Total compiled receipts
i
Deductions:
Cost of goods sold 5
Cost of operations 6
Compensation of officers
_
Rent paid on business property
Interest paid
7
Taxes paid other than income tax _-_
Bad debts
Depreciation
Depletion
Net capital loss 8
Other deductions.
Total compiled deductions
For footnotes, see p. 50.
_
9,509,460 j
182,160 i
263,308 I
125,124 |
171,448 I
306,521 |
85,360
471,766
GS, 371
14, 837
1, 791,881
12, 990, 236
49
STATISTICS OF INCOME
major industrial groups: number of returns, compiled receipts and compiled deprofits tax, total tax, and dividends paid, for returns in the aggregate and for those
thousands of dollars]
WITH NO NET INCOME
Industr lal groups—Continued
Manufacturing—C ontinued
I
Food and
kindred
products
I
Liquors and
beverages
(alcoholic
and nonalcoholic)
Tobacco
products
Textiles and
their products
Leather and
its manufactures
Rubber
products
Forest products
7, 283
1,481
228
9, 254
1,258
312
4,199
1
1.929,594
27.808
4, 361
4,418
1,274
6, 826
209, 629
4, 665
221
(157
252
907
33, 022
280
160
33
44
117
1,970. 437
52, 067
2,351
5, 831
2.044
10,611
222, 227
2, 898
521
501
121
1,209
115, 054
396
382
226
74
042
555, 183
15, 616
2, 2fiO
3,485
1,469
5,127
2
8
4
5
6
7
13, 744
487
78
74
25
39
1,882
729
898
83
110
98
8fiO
505
8
9
1, 988, 512
216, 473
33, 721
2, 045,952
228, 520
110,983
584, 504
10
1,027,482
15, 024
30, 259
13, 335
18, 323
32, 444
7, 939
41,687
104
1, 392
241. 498
127,386
2 742
573
1 544
2 775
420
9 C59
341
6
409
46, 820
24,463
179
1.418
289
173
1. 256
248
406
193, 776
2,147
7,101
2,233
1,449
1.219
1. 549
2, 806
60
243
23, 965
92, 202
254
2, 086
487
979
4, 650
983
4, 322
19
6,425
1.710.418
36, 645
53,169
18,343
17, 707
42, 740
7, 556
48? 476
23
3, 361
205,163
158
17,643
446. 564
9,403
18, 688
4, 396
12, 710
10, 823
7,742
21, 083
12,529
2,745
90, 083
11
12
13
14
15
16
17
18
1ft
20
21
2, 030, 087
232, 675
34,878
2,143.599
236, 547
123, 765
636, 708
22
41, 575
53, 807
16, 202
16, 355
1, 156
1,221
97, 047
100, 258
8, 028
9, 009
6, 782
6, 989
52, 264
53, 628
23
24
?.R
41, 575
18,172
168
16. 202
620
24
1,156
983
97, 647
10. 132
1,064
8. 028
1. 055
2
6.782
1, 006
4
52, 264
6, 360
271
26
27
28
50
STATISTICS OF INCOME
TABLE 3 (Table 2, Statistics of Income for 1934, Part 2).—Corporations, 1985, by
ductions, compiled net profit or net loss, net income or deficit, income tax, excesswith net income and with no net income—Continued
[Money figures in
PART III. RETURNS WITH
Industrial groups—Continued
Manufacturing--Continued
Paper,
pulp, and
products
Number of returns
Total compiled receipts
7,495
4, 350
2,524
475,484
62, 290
1.112
4. 333
538
3,628
2, 650, 252
99, 853
12. 733
9,464
3, 719
12, 447
238.169
3, 952
902
1,403
512
3,202
5,749
233
12, 491
' 186
94, 051
748
296
556
938
Receipts, taxable income:
Gross sales J
Gross receipts from operations 2
Interest
..-.
Rents
Net capital gain
Other receipts
__
Receipts, tax-exempt income:
Dividends from domestic corporations.
Interest on tax-exempt obligations 3
4
Printing,
Stone,
publishing, Chemicals clay, and
and allied and allied glass prodproducts
ucts
industries
309.193
2,243
4, 9(50
1,378
1,088
1, 534
326, 378
560, 062
2, 883, 268
248,992 |
Deductions:
Cost of goods sold 5
Cost of operations 6_._
Compensation of officers
Rent paid on business property
Interest paid..
_
Taxes paid other than income tax '
Bad debts
Depreciation
Depletion
Net capital loss 8
Other deductions
250,919
437
7,242
4, 582
12, 265
5,827
6, 501
15, 469
1,325
199
47, 623
350. 910
37, 371
34, 839
13, 674
8, 798
4,681
8,281
15, 789
9
527
118, 483
1,990, 760
58, 815
18, 796
27, 236
33, 644
108, 782
18, 734
133, 928
51, 369
' 727
460, 009
170,499
2,036
10, 348
1,890
7,459
5,885
2,690
23, 393
735
871
53, 550
Total compiled deductions-
352, 389
593, 363
2, 902, 800
279, 357
26, 012
31,994
33, 302
45, 978
19, 532
114, 331
30, 364
31, 216
26, 012
1,797
1,430
33, 302
2,769
19, 532
128, 363
188
30, 3^4
2,990
4
Compiled net loss (10 less 22)
Deficit (23 plus 8 and 9)
Excess-profits tax 9
Compiled net los? plus excess-profits tax (23 plus
25)
Cash dividends paid
Stock dividends paid
1
2
Gross sales where inventories are an income-determining factor. For "cost of goods sold," see deductions.
Gross receipts from operations where inventories are not an income-determining factor. For "cost of
operations," see "deductions."
3
Includes obligations of States and Territories or political subdivisions thereof, obligations of instrumentalities of the United States, and obligations of the United States or its possessions.
4
Excludes nontaxable income other than interest on tax-exempt obligations and dividends on stock of
domestic corporations as reported in schedule L of the return.
8
Includes taxes reported in "cost of goods sold." For method of tabulation see p. 10.
6
Includes taxes reported in "cost of operations." For method of tabulation see p. 10.
1
Excludes taxes reported in "cost of goods sold" and "cost of operations."
s For limitation on amount of net capital loss that may be reported, see section of this report entitled
"Revenue Acts of 1913-1934" and certain tav provisions of the Nation il Industrial Recovery Act (1933); also
the special excise tax under Act of August 5, 1909," p. 104, footnote 5 (c).
• Excess-profits tax of $19,584 appears on returns with no net income for income-tax purposes. The credit
for interest received on certain obligations of the United States and its instrumentalities, which is allowed
against net income in the computation of the income tax, is not allowed against net income in the computation of the excess-profits tax. (Fou article, 1 (d) of Treasury Decision 4469, "Regulations relating to the
excess-profits tax imposed by sec. 702 of the Revenue Act of 1934.")
10
Compiled net loss or deficit. For industrial group "Construction," excess of total tax over compiled
net profit.
» Compiled net loss, plus total tax.
12 Includes for a limited number of returns the cost of secirities purchased for customers.
13
Excludes compensation of officers of life-insurance companies which file return, Form 1120L.
H Includes special nonexpense deductions of life-insurance companies. (See pp. 4-5.)
i* Less than $500.
*• Compiled net profit.
51
STATISTICS OF INCOME
major industrial groups: number of returns, compiled receipts and compiled deprofits tax, total tax, and dividends paid, for returns in the aggregate and for those
thousands of dollars]
NO N E T INCOME—Continued
Industrial groups—Continued
Manufacturing—C ontd.
Metal and
its products
Manufacturing not
elsewhere
classified
TransporConstruc- tation and
other public
tion
utilities
Trade
ServiceProfessional,
amusements,
hotels, etc.
FinanceBanking,
insurance,
real estate, Nature of
holding
business
companies, not given
stock and
bond brokers, etc.
10. 702
3, 670
11,808
14, 833
87, 068
36, 289
91, 702
1,560
i
2. 799,048
34.306
12, 043
9. 810
3, 1K1
17,378
336, 295
5. 626
1, 68S
1, 667
376
3,049
328, 851
352, 626
3,104
6, 178
2, 731
5,854
4, 873. 5S7
49, 575
40, 515
5, 142
24,959
9, 489, 859
305.614
18,517
35. 543
5, 920
81,431
1,722.606
8,434
138,660
3, 555
23,119
12 981,842
1, 599, 923
803, 784
130,790
126, 482
2,549
205
102
55
747
2
3
4
5
6
7
20,452
4.169
3,638
245
4,084
1,223
70,925
5,444
9,975
1,930
7,411
956
1, 221, 656
494, 430
62
17
8
9
2,906, 388
352,582
704,650
5,070, 148
9,948, 789
1,904,741
5, 358, C07
3,737
10
2,265,578
14,179
58, 552
32. 377
51,6^3
47, 244
16.373
144. 7.55
2.184
2, 599
409,350
258, 502
2,328
15, 237
4,738
3,482
5, 551
4,105
12,311
26
1,535
71,267
274. 864
279, 043
41,979
6,754
8.193
6,170
8,217
21, 8S5
118
1,916
105,943
3,167, 925
37,952
100. 234
768,892
234,692
28.167
364, 832
5,257
25,886
781,989
7,761,277
161,845
2S8, 246
216,541
58,317
83, 750
80, 743
93, 720
953
6,401
1,486,345
739, 099
85. 265
132, 848
169, 728
111,494
25,475
151,980
154
13,132
7,35, 718
1 239, 466
2
13 218,101
103,011
858, 707
304,812
398, 7.58
234,381
1,497
151,902
i< 2, 515, 776
1,668
448
211
2,825
259
2,521
458
2
517
3,916
11
12
13
14
15
16
17
18
19
20
21
3,044,875
379,132
755,081
5,565,825
10.238,136
2,164,892
14 5.024,414
12,826
22
138,486
169,108
26, 550
30,433
50, 430
55, 737
495,678
572,047
8
289, 347
301,252
260,150
268,518
1 334,493
6
1,381,593
11
9,089
9,168
23
24
25
138.486
166,441
781
26,550
2, 534
217
50,430
8, 671
393
495,686
82,826
262
289,347
44,770
3,367
260,150
6,707
364
i« 334,482
739, 323
14,399
9,089
503
409
26
27
28
52
STATISTICS OF INCOME
TABLE 4.—Corporations submitting balance sheets, 1935, by major industrial groups:
nearest thereto, compiled receipts and compiled deductions, compiled net profit or
paid, for returns with net income and with no net income
[Money figures in
[For text defining certain items and
Industrial groups
Agriculture and related industries
Aggregate
Net income
Number of returns with balance sheets l.
153,
Assets: 2
Cash 3
Notes and accounts receivable (less reserve for
bad debts).
Inventories
Investments, tax-exempt 4
Investments, other than tax-exempt 5
Capital assets—Land, buildings, equipment,
etc (less depreciation and depletion).
Other assets....
___
2,000
5,143
14, 703,
21, 277,
55, 953
58,173
19, 798
92,988
205, 024
036, 723
519.092
4 :M
,
]»'. /-.Jr.
98, ;»9
34, 229
If 0,218
108, 1P0
88,971
8,612
136, 851
700, 316
388, 789
Of). '»•'* ,
7,715,357 |
39,166
85,170
180,843,111 |
914,266
1,192,704
13,899,354
33,198, 296
71. 208,104
10, 520.381
41. o65, G12
21.512,571
10, 651. 207
116,888
49, 679
53, 958
18,642
453, 434
257, 996
36, 330
275, 352
167, 455
122,180
58,697
604, 625
206, 079
241, 684
914, 266
1,192,704
22,133.001
260, 042
&'. 391, 238 63, 518
1, 699, 800
2,114
1,011,068 I
4, 768
163,399 I
1,391
334, 593
10, 470
162, 286
37, 341
1,837
5,704
1,316
3,788
785, 273
11,632,338
16, 62-3, 599
17, 857. 404
9. 012. 709
41, 377, 226
27,315,494
1, 511, 711
Total liabilities.
Receipts, taxable income:
Gross sales 6
._
Gross receipts from operations 7
Interest
Rents
Net capital gain
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations i
, 745, 827
i 613, 931
,
804,172
534, 558
288, 936
761,831
1, 461. 480
507, 722
7,033
1,136
3,113
349
76, 396,194 | 35, 702, 301
350, 471
215, 733
17,795,136 i
4,688,669 I
910.409 j
662,325 !
2,032,417 j
1,129,104 |
607,340 !
1,399,211
166,781 !
163.604 !
7, 363, 320
165, 325
6. 397
8, 426
12,027
4,874
11,071
1, 547
16,908
2, 475
143
70,172
123,065
18, 513
8,713
2,699
14, 293
9,487
3,049
12,990
3,492
2,104
50,544
69, 680, 579
36, 918, 315
299, 364
248, 649
6,715,614
5, 068, 676
696, 958
24,564
1, 216, 014
3,185, 216
51,107
42, 939
5,904
148
32, 915
36,377
, 455, 764
191,175
Total compiled receipts 8
_
Total compiled deductionsCompiled net profit or net loss (26 less 38).
Net income or deficit
Income tax
Excess-profits tax *3
Total t a x . . .
_
Compiled net profit less total tax (39 less 43)
1
No net
income
1,961,115
' 413,103
,
307, 120
Liabilities: 2
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
T__.
Capital stock, preferred
Capital stock, common
Surplus and undivided profits.
Less deficit
Cash dividends paid
Stock dividends p a i d . .
262,130
Net income
122, 307,120 I 180, 843, 111
Total assets.
Deductions:
Cost of goods sold 8
Cost of operations 10.
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax "
Bad debts
Depreciation
_
Depletion
Net capital loss 12
Other deductions
075
No net
income
266, 428
175, 797
356, 560
826,400
127, 622
432, 333
320, 727
874, 012
171, 040
15, 672
113, 988
721, 522
5, 994. 093
4,618,152
111,859
20
20
s 1, 216, 033
1, 277, 523
23,171
6,052
45,055
31, 582
3,544
Excludes returns for inactive corporations and returns with fragmentary balance sheet data.
* See text, pp. 11-16.
For footnotes, see pp. 54-59.
32,915
3,064
4
53
STATISTICS OF INCOME
number of returns, assets and liabilities as of Dec. 81, 1935, or close of fiscal year
net loss, net income or deficit, income tax, excess-profits tax, total tax, and dividends
thousands of dollars]
describing returns included, see pp. 1-4 and 9-16]
Industrial groups—Continued
Manufacturing
Mining and quarrying
Net income
No net
income
Total manufacturing
Net income
No net
income
Food a n d k i n d r e d
products
Net income
No net
income
Liquors and beverages (alcoholic and
nonalcoholic)
Net income
No net
income
3,900
7,531
36,974
48, 843
5, 073
6, 440
1, 420
1,325
1
174, 406
275, 305
.120, 749
321, 826
2, 717, 292
4, 908, 534
672,169
2, 466, 998
373, 779
581, 948
54, 327
174, 162
51, 784
105. 3S7
6,669
26, 697
'4
133,134
97, 766
45*, 869
2, 031, 684
184, 028
66, 665
1, 217,199
3, 882, 604
6,193, 869
1,155, 586
5, 720, 794
11, 819,162
2, 511, 539
203, 805
2,607,716
8,411,357
785, 655
100, 064
631,133
1, 517, 510
180,825
8, 860
245, 411
646, 497
149.219
10, 652
34, 338
1,229
14,886
140, 038
•18, 526
338, 803
1
4
I
7
149,133
406, 093
2,180, 318
1,112,763
256,930
103, 601
i8, 491
33,401
8
3,320, 297
6,199,168
3-i, 695, 5HG
.
17,936,346
4, 247, 019
1,413,683
761,862
257, 258
9
306,335
142,178
260, 075
90.129
1, 490,881
1,247, 050
216, 351
865, 492
905, 292
483, 848
268, 651
2,957, 079
1, 478, 530
759,725
3,643,911
1, 809, 588
2, 399, 575
3, 603,143
13,037,225
10, 519, 464
317,351
3,101, 011
2, 577, 424
1, 539,192
1, 999, 410
7, 242, 269
3, 529, 830
2, 002, 790
514,663
313, 353
271, 369
532, 978
1,498, 612
1,163, 487
47, 443
303, 604
251, 789
101, 547
181, 374
516,690
233,172
174, 495
134, 288
50, 587
55, 479
38, 207
207, 065
280, 873
4,636
60, 208
34,324
18,453
16,173
104,711
47, 795
24, 405
1C
14
15
Ib
3, 320, 297
6, 199,168
34, 695, 556
17, 986,346
4, 247, 019
1, 413, 683
761, 862
257, 258
17
1,007, 270
79, 567
5, 930
9, 865
12, 667
14, 692
1, 030, 785
135, 774
7,612
12, 425
7, 945
.17, 543
33,991, 791
251, 419
85, 833
64, 347
39, 660
298, 933
11, 623, 626
290, 893
43,171
42, 367
14,522
65, 315
7, 083, 009
35, 526
11,662
9, 275
2,806
40,181
1, 885, 725
24, 076
4,287
4,310
1, 240
6,619
1, 085, 874
4,598
1, 543
2 838
893
4, 838
205,086
4,304
213
648
252
894
iy
21
21
22
23
24,018
4, 994
43, 544
3, 578
452, 501
40,477
160,168
8,141
51, 076
3, 561
13, 742
484
2, 387
772
74
24
21
1,159, 003
1, 259, 206
35, 225, 052
12, 248, 203
7,237, 096
1,940,484
1,103, 742
211, 537
26
597,330
19, 274
21, 524
4,810
13, 491
30, 552
3,376
02. 922
100,545
428
120, 451
741,345
76, 976
19, 502
7, 730
56,999
58,628
8, 275
91, 487
88, 498
3, 686
220, 207
25, 205, 595
61, 297
544, 497
156, 296
169,842
648, 275
111,500
812, 791
59, 437
4, 474
4, 489, 557
9, 318, 508
167, 530
255, 477
J 22, 278
167, 906
303,344
82, 715
463, 909
67, 099
11, 600
1, 755, 577
5, 792,969
7,184
59, 689
24, 304
29, 905
91, 438
13, 805
96, 212
184
541
750,864
1, 589, 800
12,828
29,149
12, 779
17, 795
32,112
7,787
40, 545
91
1, 028
235, 376
617, 402
240
18, 083
3,056
6, 269
156, 711
5, 763
20, 320
3
255
164, 841
123,658
2,548
5,340
1,450
2,694
35,112
2,627
7,236
6
399
45, 300
974, 703
1,373, 332
32, 263, 560
12, 715, 941
6, 867,096
1,979, 2P1
992,942
226,370
3?
184, 299
155, 287
21,3-19
506
21, 854
i* 114,126
** 161. 24<S
2, 961, -192
2, 40.S, 424
339, 3<S3
15,412
3 >i 7<*5
^ 467, 738
« 630, 048
14 38, 807
^ 53, 033
110,800
107, 64!
14. 801
903
15, 704
" 14, 833
14 14, 974
3i
41
4'
162, 445
195, 209
2,814
14 114, 126
GO, 200
301
2, f)06, 697
1, 840, 952
45, 247
» 467, 73H
342, 837
4,188
370,001
315,363
43, 352
1, 575
44. 9?7
325, 074
244, 329
2, 861
»* 3S, 807
18,127
164
95, U96
57, 094
1,328
" 14, b33
620
24
n
n
13
27
2S
3(]
31
32
•dd
34
35
3c
f
37
41
44
41
4i
s Includes cash in till and deposits in bank.
* Includes obligations of States and Territories or political subdivisions thereof, obligations of instrumentalities of the United States, and obligations of the United States or its possessions.
54
STATISTICS OF INCOME
TABLE 4.—Corporations submitting balance sheets, 1935, by major industrial groups:
nearest thereto, compiled receipts and compiled deductions, compiled net profit or
paid, for returns with net income and with no net income—Continued.
[Money figures in
Industrial groups—Continued
Manufacturing—Continued
Textiles and their
products
Tobacco products
Net income
1
Number of returns with balance sheets i
No net
income
N
Net income 1 in o net
COIL1 e
135
206
6,036
8,521
77 836
141, 922
4 980
8,495
216, 544
468, 417
85, 265
219, 533
411,786
55, 444
82,164
75,772
15,150
955
7.416
6. 625
748, 687
108, 245
181,014
1, 000, 410
373, 759
21, 807
142, 346
803,177
2
2
3
4
«i
fi
7
8
Assets:
Cash 3
Notes and accounts receivable (less reserves
for bad debts).
Inventories.
Investments, tax-exempt 4
Investments, other than tax-exempt 5
Capital assets—Land, buildings, equipment,
etc. (less depreciation and depletion).
Other assets
_
ft
10
11
12
Liabilities: 2
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Capital stock, common
Surplus and undivided profits
Less deficit
14
16
Receipts, taxable income:
Gross sales 6
._
Gross receipts from operations 7__
._
Interest,.
.. _
Rents
Net capital erain
. . . .
..
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations 4
18
19
*>0
*>1
22
^
24
25
26 :
27
•>8
99
30
?1
32
<n
34
T>
37
38
39
40
41
42
43
44
45
46
.-
Total liabilities
17
Total compiled receipts
8
Deductions:
Cost of goods sold 9
Cost of operations 10
Compensation of officers
_
Rent paid on business property
Interest paid
Taxes paid other than income tax 11
Bad d e b t s . . . . .
Depreciation
Depletion
. _
Net capital loss 12 ._
Other deductions.
Total compiled deductions
Compiled net profit or net loss (26 less 38)
Net income or deficit
Income tax
Excess-profits tax i3___
_
Total tax
_.
_
Compiled net profit less total tax (39 less 43)
• Cash dividends paid. .
Stock dividends paid
_
1G8, 247
3. 588
102,162
47, 210
2, 825, 480
1, 727, 725
41, 661
56, 232
48,444
127 553
416, 674
262, 900
295
5, 406
650
1.294
15,146
15, 211
13, 460
4.016
387, 818
79, 586
190,Oil
334, 456
1, 007, 932
863. 029
37, 351
311,251
136, 248
142,555
234, 560
782,173
3130, 945
240, 007
47, 210
2, 825, 480
1. 727, 725
1,054,148
1,204
912
714
784
3,006
32, 700
274
160
33
44
117
3, 764, 823
32, 832
4, 958
5, 854
2, 912
21, 962
1,932,110
46,810
2, 316 i
5, 681
2,035
10, 255
16, 341
1, 678
25
39
6,807
3,987
1,873
728
1,078,787
_. .
953,169
953,169
Total assets-—
33, 393
3,844.134
2, 001,808
795,304
119
4,940
1,270
4,649
58,855
1, 135
6,124
24,190
179
1,395
285
172
1, 252
246
403
16
6,367
3,012, C74
19, 800
90,123
22, 075
14,700
47, 501
9, 590
69, 725
83
532
376, 742
1,075, 558
32, 561
51,443
17, 607
17, 206
42,098
7,227
47, 779
23
2, 369
199,931;
961. 526
34, 504
3, 662, 945
2,093, 803
117, 261
99, 242
13, 646
44
1* 1, 111
" 1,176
181, 190
170, 396
23, 429
1,025
24. 455
"91.995
" 94, 597
156, 735
91,652
6,431
1*91,995
10, 057
1,064
(16)
15
89,114
j . _ ._
13. 689
103,572
95, 503
183
" 1,111
983
78, 838 ,
« See text, p. 13.
6
Gross sales where inventories are an income-determining factor. For "cost of goods sold," see "deductions."
For footnotes, see pp. 52-53,56-59.
55
STATISTICS OF INCOME
number of returns, assets and liabilities as of Dec. 31, 1985, or close of fiscal year
net loss, net income or deficit, income tax, excess-profits tax, total tax, and dividends
thousands of dollars]
Industrial groups—Continued
•
Leather and its manutures
Net income
No net
income
Vfanufacturing—Continued
Rubber products
Net income
No net
income
Paper, pulp, and products
Forest products
Net income
No net
income
Net income
No net
income
1, 083
1,167
285
293
2,329
3,871
1,276
880
1
*
55, 337
136,591
8, 676
30, 624
46.021
154,740
5, 942
35, 955
44,112
137,227
30, 556
146, 348
87, 867
146, 244
19. 624
134,022
2
3
5
j
j
222,435
9,646
49341
124,090
46,092
2.241
28, 549
39, 249
156,212
5, 251
173, 174
179,875
29,406
2, 775
13,670
67, 985
170, 644
22, 893
110,185
444,591
181,023
10,669
155,132
656,856
184,886
32, 248
136.559
679, 322
59,596
10,288
312,463
295,104
4
5
6
7
30, 259
33,788
8
1,332,474
864, 884
9
90,437
17.808
31.250
75.998
247,465
17fl,935
12,148
35, 065
31,777
13, 729
35. 637
74, 389
22 663
47, 553
62.085
105 007
57, 763
180,968
215. d86
172,765
5, 291
43,596
19. OU
6,418
40,214
51,057
2«, 479
24,955
103,695
46, 688
49. 392
49, 243
364, 222
369, 479
18, 848
217. 383
147, 443
120,482
103, 021
602,400
275. 679
210, 573
104, 746
149, 953
56. 263
163,053
533,142
333, 664
8, 346
109,677
124,641
97,299
193. 863
278, 328
129, 895
68, 820
10
11
12
13
14
15
16
165, 709
788.963
163,849
963, 872
1, 255, 805
1, 332, 474
864,884
17
924, 334
2,819
1, 200
728
435
4,742
216, 579
2, 60S
500
493
114
1,222
657, 844
979
4, 111
321
418
2;. 924
111.753
370
376
225
73
628
710, 525
5, 385
2,143
2, 552
2,178
5, 120
541. 682
15,064
2,1H5
3,414
1, 450
4, 096
1,138, 538
4, 374
2, 357
1, 643
734
7.052
301,592
2.213
4, 954
1,367
1,088
1,513
18
19
20
21
22
23
897
83
5, 261
173
110
98
3, 547
897
858
501
5. 666
1, 283
5,749
233
24
25
222, 557
672, 033
113,633
732, 348
570, 080
1,161,647
318, 709
26
757,133
359
18, 483
5,574
3,148
5,781
3.130
9, 25S
24
99
83, 539
188, 580
2, 085
6, 890
2, 145
1. 426
1, 19S
1, 476
2, 743
60
142
23, 053
453, 009
101
6,306
3, 364
7, 623
25,584
1,543
17, 815
89,078
238
2, 038
479
976
4,610
979
4,060
156
17, 543
434, 486
9,105
18, 263
4.261
12, 255
10, 619
7, 540
20. 389
12, 428
2,534
86, 629
794, 301
1,271
25, 732
7, 006
11,620
13, 840
4,220
43, 474
1 464
203
159, 759
244,512
420
7,144
4,537
11,903
5,711
5,996
15.141
1 325
189
45,858
27
2?
47
121, OSS
530, 285
1,966
21. 176
3, 772
5, 641
10. 220
4, 587
IS, 553
10 479
228
83, 099
30
31
32
3?
34
S*f
3fi
37
229. 798
636, 480
120,157
690, 005
618,511
1, 062, 888
342, 736
38
i* 7, 241
** 8, 221
n 48. 431
98,759
91,810
12,616
265
12,881
85,878
39
40
41
4?
43
6. 524
42, 343
37, 899
5, 211
221
5, 432
36.911
" 24,026
n 30,009
i« 7. 241
35, 553
30, 119
4, 141
323
4, 465
31. OSS
» 48, 431
** 49, 790
42 125
»• 24,026
22, 338
938
(
65,350
1, 255. 895
48, 885
47, 730
6, .r)03
197
6, 760
!
i
75.311
963, 872
886, 529
|
1
\
34, 220
163, 849
935.413
!
8,116
788. 963
804
35!
'
73, 690
165.709
627, 751
|
j
i
10, 278
627, 751
1, 055
2
15.417
50
1,006
4
29, 699
506
6, 2S1
271
58, 423
1, 418
1,751
1, 430
44
45
46
l
* 6, 524
» 6, 73.2
H
m
7
Gross receipts from operations where inventories are not an income-determining factor. For "cost of
operations," see "deductions."
s
Excludes nontaxable income other than interest on tax-exempt obligations and dividends on stock
of domestic corporations as reported in Schedule L of the return.
56
STATISTICS OF INCOME
TABLE 4.—Corporations submitting balance sheets, 1935, by major industrial groups:
necerest "thereto, compiled receipts and compiled deductions, compiled net profit or
paid, for returns with net income and with no net income—Continued
[Money figures in
Industrial groups—Continued
Manufacturing—Continued
Printing, publishing,
and allied industries
Chemicals and allied
products
Net income No net in- Net income No net inincome
income
Number of returns with balance sheets i
Assets: 2
Cash 3
Notes and accounts receivable (less reserve for
bad debts)
Inventories
Investments, tax-exempt 4
Investments, other than tax-exempt 5
Capital assets—Land, buildings, equipment,
etc. (less depreciation and depletion)
Other assets
_
Total assets
Liabilities: 2
Notes and accounts payable...
Bonded debt and mortgages. _.
Other liabilities
Capital stock, preferred.
Capital stock, common
Surplus and undivided profits.
Less deficit
6,597
3,070
119, 566
21,018
364,188
176,675 i
277, 670
112, 829
89, 062
197,403
185,150
44,092
5, 805
92, 700
790, 739
827,595
168,180
1,838, 695
793,649 |
454,911 «
16,864 i
748,480 |
448. 606
372,079
222,085
135,. 827
2,378, 420
317,469
2,066,047 !
178,227
712, 280
233, 464
363, 772
393,039
3,175,777
1,853, 423
46, 469
741,866 i
740,472
438,650
252, 705
1,816,695
844,531 1
398,066 j
706,677
6,685, 286
4,434,853 1
463, 768
56,569
1.056
4, 286
536
3,470
4, 265,624
31,909
12.826
12, 535
8, 571
27,696
2,615,548 j
97, 132
1J 030 '
9. 349
3. 684
12,237 ;
12, 465
185
163,113
6,053
94,018 |
747 "
542, 334
4, 528, 327
2,845,345
868, 263
15,932
61, 532
21,238
10,084
18.025
13,281
31, 699
16
431
266,811
341,420
34,173
33, 293
13,244
8, 661
4,556
8,050
15, 256
9
465
114,925
2,801,496
1,919
51,347
22,870
20,126
93,913
13,890
156,474
41,458
654
791,073
1,960, 766
56,315
18, 364
27, 042
32, 955
108,512
18,110 !
132,642 !
50,957 !
426 |
454,734 I
1,307,313
574, 052
3,995. 220
2,860,824
154,988
139, 482
19,178
459
Total tax.
168,870
105. 536
68, 955
80,958
228, 516
204, 324
150, 481
1, 462, 301
Total compiled deductions..
4,434,853
12,022
3,484
Compiled net profit or net loss (26 less 38).
Net income or deficit
Income tax
Excess-profits tax 13
706,677 I 6,685,286
1,376,124
40,081
4,269
7,142
2,287
16,892
Total compiled receipts 8
Deductions:
Cost of goods sold 10
°
Cost of operations _
Compensation of officers
Rent paid on business property..
Interest paid_
Taxes paid other than income tax n
Bad debts
Depreciation...
Depletion
Net capital loss 12
Other deductions
14 31, 717
H 44, 367
533,107
363,941
50,039
929
« 15, 479
"110,243
31, 717
2,741
38
482,140
440,951
10. 682
1,617,215
148, 239
101,093
122,368
128, 653
482,822
658, 077
24,038
19,638
_.
135,350
94,162
3,885
50,967
•Includes taxes reported in "cost of goods sold." For method of tabulation, see p. 10.
"Includes taxes reported in "cost of operations." For method of tabulation, see p. 10.
"Excludes taxes reported in "cost of goods sold" and "cost of operations."
For footnotes, see pp. 52-55, 58-59.
3,893
1,617,215
Total liabilities.
Receipts, taxable income:
Gross sales 6
_
. Gross receipts from operations 7._
Interest.
._
Rents
Net capital gain
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations.
Interest on tax-exempt obligations *
Compiled net profit less total tax (39 less 43)
Cash dividends paid
Stock dividends paid
4,673
" 15, 479 i
128,339 !
188 I
57
STATISTICS OF INCOME
number of returns, assets and liabilities as of Dec. 81, 1935, or close of fiscal year
net loss, net income or deficit, income tax, excess-profits tax, total tax, and dividends
thousands of dollars]
Industrial groups—Continued
i
Vlanufacturin g—Continued
j
j
I Stone, clay, and glass
products
Metal and its products
I
Net income
|
No net income
Net income
1, 216
2,327
8,302
9,999
M a n u f a c t u r i n g n o t elsew h e r e classified
No net in- N e t income
come
2,076
Construction
No net inNet income
come
3,324
No net income
3,968
10,149
90,159
29, 056
1,101,092
210,049
88,958
19,332
65,455
57,818
136,851
149, 904
47,957
150,368
53,140
85,335
17,174
52, 396
1,645, 347
2,055, 775
460, 560
1,984,850
573,848
911, 354
98,109
711,917
185,451
218,243
36,385
137,383
85, 376
95, 657
7,029
82, 351
197,364
44,066
35,363
75, 583
228.524
80,458
28,103
149,185
(
493,021
42,913
485.807
44, 707
3,856, 5S8
630, 604
2,822, 307
340, 222
282,152
97,905
156,579
66,859
173.516
60, 558
311,499
105, 786
i
1, 111, 173
767, 615
11,734,815
5, 667,806
1,046,477
513,183
651,905
961,373
99, 061
36, 0S6
54,250
93,195
466,844
372, 653
10,917
76, 597
108, 274
59,018
143, 605
380.932
119.817
100, 628
1,115,213
.571,020
974.218
1, 387, 609
4, 099, 563
3, 676, 730
89. 538
936,211
846,564
404, 338
636, 647
2,181, 578
1,132. 673
470, 205
129, 726
48,711
124,989
98,192
321, 440
335, 448
12, 030
91,215
30. 665
68,454
65, 507
229,529
116,398
88, 585
126, 273
44,093
73, 704
31, 089
221, 227
174, 445
18, 925
245,831
96,177
201, 703
60,803
354,836
168,814
166,791
1(
11
15
ir
1, 111, 173
767, 615
11,734,815
5,667,806
1,046,477
513,183
651,905
961,373
ii
I
!
:
734.562
6, 970
1,876
1,524
4,293
4,310
235, 268
3,694
897
1,358
511
3,175
10,174, 650
77.911
35, 325
17,424
11,819
148,483
2, 752. 367
32,740
11,937
9,599
3,132
17, 207
1, 021, 737
6,833
2,650
1,795
1, 530
11, 727
329, 496
4,979
1,680
1,603
364
2,982
192,161
564, 779
2,363
2,398
3,067
6,301
296,522
331, 885
3.034
5,608
2,680
5,613
is
?,(
?i
25
25
i
10,627
1,546
296
556
168, 510
15,433
26,431
4,168
6,429
1,260
3,637
244
2,051
1,629
4,078
1,212
24
2t
765, 708
245,755
10, 649, 556
2, 857, 582
1,053,960
344,986
774, 748
650,633
2t
483,178
954
15,052
2, 520
3,483
9,313
3,167
33.869
1,216
163
112,479
168,153
1,907
10,133
1, 842
7. 343
5,798
2,667
22, 962
643
854
52,833
7, 618, 757
9,822
140, 979
32, 767
48,107
105,157
32, 920
286,478
4,422
1,150
1, 312.. 369
2, 225, 254
13,314
57, 343
32, 023
51,098
46, 306
16,010
142, 661
1,530
2,384
403, 492
681, 424
1, 630
31,055
6,480
4,487
11, 939
4,469
22, 788
87
157
177, 780
253,052
1, 857
14,682
4, 583
3,422
5,460
4,001
12,090
26
638
69, 534
148, 398
404,611
33, 582
3,968
3, 820
5, 211
2, 987
21,046
330
247
98, 652
245,434
264,055
38,977
6,308
7,775
5,867
7,300
21,021
116
1,574
98,639
Ti
2?
2?
3f
31
3?
33
34
3-1
3fl
37
665, 395
275,137
9, 592, 926
2, 991, 415
942, 297
369, 345
722,851
697,066
38
100,313
88,141
12,119
466
i« 29,382
" 30. 233
1.056, 630
872, 686
119,991
8,170
i* 133,833
« 164,432
111, 663
103,974
14, 296
833
" 24,360
" 28, 241
51, 897
48, 217
6, 629
696
" 46,433
" 51, 723
39
4(1
41
42
" 29, 382
2,990
4
928,469
565,148
13, 656
" 133,833
166,428
781
96,533
68, 258
1,981
« 24, 360
2,457
217
44, 572
20,800
3,835
i< 46,433
8,658
393
44
45
46
]
i
\
i
1
128,161
12, 586
87, 728
59,977
1,299
15,130
.
7,325
c
*
I
u
i,'
if
43
" For limitation on amount of net capital loss that may be reported, see section of this report entitled
"Revenue Acts of 1913-1934 and certain tax provisions of the National Industrial Recovery Act (1933);
also the special excise tax under Act of August 5, 1909," p. 104, footnote 5 (c).
58
STATISTICS OF INCOME
TABLE 4.—Corporations submitting balance sheets, 1985, by major industrial groups:
nearest thereto, compiled receipts and compiled deductions, compiled net profit or
paid, for returns with net income and with no net income—Continued
[Money figures in
Industrial groups—Con.
Transportation and other
public utilities
Net income
Number of returns with balance sheets i
Assets: 2
Cash3__
Notes and acounts receivable (less reserve for bad debts)
Inventories
_
Investments, tax-exempt 4
_
Investments, other than tax-exempt 5
Capital assets—Land, buildings, equipment, etc. (less depreciation
and depletion).
Other assets
__.
No net
income
9, 439
11, 710
749,503
1,104, 904
334, 388
128,766
5,102,136
24,108, 968
483,981
753,815
282, 986
48, 535
4, 770, 938
25,472,142
1,441,492
1, 685, 503
Total assets
...
Liabilities: *
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Capital stock, preferred
Capital stock, common
Surplus and undivided profits..
Less deficit
32,970,217
33, 507, 880
Total liabilities_
Receipts, taxable income:
Gross sales 6
Gross receipts from operations 7. _ _
Interest
Rents
.-_
_
Net capital gain...
Other receipts
Receipts, tax-exempt income:
• Dividends from domestic corporations.
• Interest on tax-exempt obligations 4
32,970, 217
33, 507,880
6, 014, 135
61,577
55, 671
5,127
32, 794
4, 787,100
45,330
39, 328
4,614
23,840
193, 958
13, 751
70, 537
5,417
6, 377, 014
4, 976,165
2, 738, 668
55, 752
85,814
563, 740
422, 122
20, 058
653, 928
6,716
813
717,139
3,114, 559
35,257
98, 212
753,916
281, 365
26,040
355,085
5,128
22, 780
757, 614
5, 264, 748
5,449, 956
1,112, 266
904.55ft
473, 791
549, 746
Total compiled receipts 8
Deductions:
Cost of goods sold 9
_
Cost of operations 10
Compensation of officers. __
Rent paid on business property
Interest paid
Taxes paid other than income tax n_.
Bad d e b t s . . Depreciation
_
_
Depletion
Net capital loss 12__
• Other deductions
._
Total compiled deductions.
Compiled net profit or net loss (26 less 38).
Net income or deficit—
Income tax
Excess-profits tax *
Total tax.
Compiled net profit less total tax (39 less 43) _
Cash dividends paid
Stock dividends paid
2,105,453
15, 646, 685
3,043,115
1, 629, 293
9. 365. 332
3, 423, 329
1, 705, 327
124,474
1,090
125, 564
986, 702
1,199,145
5,290
« Excess-profits tax of $19,584 appears on returns submitting balance sheets with no net income for incometax purposes. The credit for interest received on certain obligations of the United States and its instrumentalities, which is allowed against net income in the computation of the income tax, is not allowed against
net income in the computation of the excess-profits tax. (See article 1 (d) of Treasury Decision 4469, "Regulations relating to the excess-profits tax imposed by section 702 of the Revenue Act of 1934.")
For footnotes, see pp. 52-57.
59
STATISTICS OF INCOME
number of returns, assets and liabilities as of Dec. 81, 1985, or close of fiscal year
net loss, net income or deficit, income tax, excess-profits tax, total tax, and dividends
thousands of dollars]
Industrial groups—Continued
Service—Professional,
amusements: , hotels, etc.
Trade
Net income
55,313
975,586
3,480. 065
3, 295. 566
233, 365
1, 341, 637
2,287,907
No net
income
75,004
294,165
1,352. 166
1, 272, 422
40, 733
552. 547
1, 374, 582
Net income
11,682
155,571
223, 208
82, 561
23, 606
327, 686
1, 270, 782
No net
income
Finance—Banking, insurance, real estate, holding companies, stock
and bond brokers, etc.
Net income
No net
income
Nature of business
not given
Net income
Noraet
income
28,411
29,642
74,504
97
835
I
129, 247
302. 972
74,630
19,715
455,476
4, 761,863
4, 064, 346
7,162.515
21,652
3, 327,841
16. 331, 464
3, 221,061
12, 921, 438
15, 723, 738
87, 743
16,409.466
50,740,111
10, 098, 559
3,003
2,975
1.449
201
706
5,520
4,013
24,333
610
883
14,030
20,160
2
3
4
5
6
7
546, 522
438,395
189, 010
410,578
1,178, 298
3, 459,176
778
11,890
8
12.160, 048
5, 325, 009
2, 272, 424
6,154, 481
35, 307.176
109. 440, 231
14, 631
75, 918
9
3, 262, 362
545, 692
696, 097
782. 828
4, 150, 200
3,048, 403
324, 934
1, 7C7, 719
483, 286
445,2S5
487. 0-50
2,305,151
828, 788
992, 219
282, 831
505.061
196,178
125, 996
711,871
524. 552
74, 066
948, 469
3, 054, 948
723. 431
411,317
1, 484, 367
571,410
1. 039, 462
2, 799, 221
2, 782. 993
12, 684. 749
2.119,438
8,421,620
6, 794.823
295, 670
4, 347, 878
10,253,674
64, 636, 248
5, 595, 054
16, 964, 028
11, 291, 439
3, 648, 089
10. 683
137
819
275
7,435
622
5, 339
42,150
13,405
13,101
10,107
77, 924
14,350
95,119
10
11
12
13
14
15
16
12,160,648
5, 325,009
2, 272, 424
6,154. 481
35, 307,176
109, 440. 231
14, 631
75,918
17
26, 294, 563
495,275
72, 471
51,847
9, 652
246, 367
9,019,782
272, 335
17,730
33, 970
5.196
77, S27
1, 695, 244
5,651
25, 288
5, 872
15, 690
1,603,331
8,011
126,102
3,360
21,514
1.449,410
568,174
320,368
211,480
136, 281
17 931, 343
1, 572, 896
745,503
123,749
118,555
582
59
7
20
303
1, 236
181
63
17
597
18
19
20
21
2?,
23
52,961
7, 634
9,883
1,902
9,412
936
6, 652
898
713, 733
120,617
1,163, 486
436, 209
8
19
15
24
25
27, 230, 771
9, 438, 626
1, 758, 092
1, 769, 868
3, 520. 063
5,141,741
979
2,128
26
21.149,780
140, 670
449. 782
409, 425
84,017
159, 465
118.936
167, 482
342
2,896
3,729,425
7. 366, 783
141,008
269, 271
203,415
55, 296
80,174
75, 727
89, 300
826
5,209
1, 412, 064
703, 902
90, 133
92, 586
30, 722
36, 764
9,310
57, 425
101
465
601,861
679, 361
75,411
122,912
161,455
105, 309
24,654
144, 435
139
4, 886
682, 708
n 100, 714
is 152. 732
61,447
257,103
118, 859
53,003
81, 342
1,089
6, 206
i» 1, 286, 605
n 225. 918
is 207, 566
98, 665
814,068
285, 037
377, 236
220, 530
1,483
111,340
i« 2, 383, 827
264
132
28
15
13
11
169
3
749
235
106
709
194
2,343
364
(16)
?7
28
29
30
31
32
33
34
35
127
425
2,141
m
37
26,412.220
9, 699,163
1,623,269
2.001, 270
I* 2,119,101
i» 4,725, 671
762
7,267
33
818, 551
757,956
i* 260, 538
" 272, 323
134,823
124, 475
" 231, 402
" 238,952
1, 400. 962
568, 612
416, 070
i* 1, 233, 625
217
209
i* 5,140
i* 5,174
39
40
77 890
2,738
11
29
1
104,192
3, 275
17,110
699
107,467
711,083
460,827
25,269
17,808
i< 260, 538
44, 046
3,317
117,015
64,093
1,911
17
..I "
(18)
(16)
80, 627
i« 231, 402
6,572
364
11
29
1, 320, 335
805,150
23,949
416,059
729, 449
13,934
188
334
41
42
43
»* 5,140
478
408
H Compiled net loss or deficit.
i« Compiled net loss plus excess-profits tax.
io Less than $500.
i' Includes for a limited number of returns the cost of securities purchased for customers.
i* Excludes compensation of officers of life insurance companies which file return Form 1120L.
'• Includes special nonexpense deductions of life insurance companies.
44
45
46
60
STATISTICS OF INCOME
TABLE 5.—Corporations submitting balance sheets, 1985, by total assets classes:
year nearest thereto, compiled receipts and compiled deductions, compiled net profit or
paid, for returns in the aggregate and for those with net income and with no net
[Total assets classes and money
[For text defining certain items and
PART I. ALL RETURNS
Total assets classes
Total
Number of returns with balance sheets 1.
415,205
Assets:2
Cash 3
Notes and accounts receivable (less reserve for bad debts) _ _
Inventories
Investments, tax-exempt4
Investments other than tax-exempt5
Capital assets—Land, buildings, equipment, etc. (less
depreciation and depletion).
Other assets
_
23, 664,493
38, 690,461
14, 788, 391
21,863,241
90,163,144
100., 479,871
13, 500, 630
Total liabilities
Receipts, taxable income:
p,
G
l 6
Gross sales 6
Gross receipts from operations 7
Interest
Rents
Net capital gain
Other receipts
Receipts, tax-exempt income:
it
t
Dividends from domestic corporations..
Interest on tax-exempt obligations 4
8
Total compiled receipts .
Deductions:
Cost of goods sold s10
_
Cost of operations
Compensation of officers..
Rent paid on business property
Interest paid
Taxes paid other than income tax ".
Bad debts
Depreciation
_
Depletion
Net capital loss «
Other deductions
_
_.
Total compiled deductions-
43
Compiled net profit or net loss (26 less 38).
Net income or deficit
_..
Income tax
Excess-profits tax *3
Total tax..
Compiled net profit less total tax (39 less 43).
Cash dividends paid
Stock dividends paid
__.
For footnotes, see pp. 64-65.
227, 545
58,434
327, 066
975, 835
763, 545
17, 672
153, 483
1,498, 933
257,843
900,174
623, 223
32,463
235, 725
1, 767,028
394, 400
344, 532
4,130, 934
4,160,989
1, 563, 476
425,197
463, 294
187,271
2,799,617
455, 868
1, 763, 790
1,102, 791
574, 651
323, 554
209, 212
2,144, 393
581,021
774, 633
4,130, 934
4,160,989
83. 878, 828
19, 005,169
2, 503, 971
1, 545, 627
452, 336
1, 096, 424
7, 232, 349
1, 930, 536
17,151
95, 248
14, 755
68, 262
5,103,443
813, 254
19,907
86,097
15, 705
45, 247
2,917,244
698, 897
4, 561
1,469
3,688
2,031
112,098,495
9, 364, 331
6,089,872
! 303,150,231
Liabilities:2
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Capital stock, preferred
Capital stock, common
Surplus and undivided profits..
Less deficit
44
45
46
50 to 100
303,150, 231
Total assets..
39
40
41
42
Under 50
65,061,564
8, 864, 407
2, 266, 969
1, 488, 725
3,160, 039
2,561,438
928, 068
3, 273, 223
337, 821
179,276
18, 477, 309
106, 598, i
5, 499, 601
1, 883, 460
696, 958
24, 583
5, 804. 938 4,104, 296
428, 220
1, 067, 318
275, 945
608,184
109, 598
286, 079
55,168
54,198
74, 693
63,156
49,264
71, 369
95,117
127, 098
4,235
3,785
8,578
17,184
907, 582
1,432, 840
9, 547, 686 6, 099,159
183, 356
189, 386
15, 608
1,126
721, 541
16, 734
4, 778, 059
5, 895, 675
135, 030
s 200,090
56,077
6,709
i* 9, 787
« 15,505
16, 365
1,100
17,465
s 27, 252
57,224
3,429
61
STATISTICS OF INCOME
number of returns, assets and liabilities as of Dec. 81, 1935, or close of fiscal
net loss, net income or deficit, income tax, excess-profits tax, total tax, and dividends
income
figures in thousands of dollars]
describing returns included, see pp. 1-4 and 9-16]
WITH BALANCE SHEETS
Total assets classes—Continued
100 to 250
250 to 500
500 to 1,000
58, 208
28, 605
620,491
1, 864, 765
1,124, 730
159, 356
734, 814
4,017,946
775,481
1,933, 399
1, 015, 871
337, 905
1,145, 328
4,159, 789
1,040, 512
2, 278, 830
1,133, 374
601,139
1,865, 586
4,936,034
3,066, 845
6, 272,998
2, 691,077
2,338,884
8,193, 763
13, 541, 546
1, 512,456
2, 771, 409
1,145, 413
1, 229,052
4, 923,093
6, 895,447
682, 005
708, 340
849, 237
2,192,873
9, 204,107
10,076,113
12, 704, 713
1, 932, 778
1, 421, 774
1,190, 362
544, 322
3, 899. 746
1,444, 278
1, 229,153
9, 204,107
8,199, 491
1,103, 450
58, 346
187, 568
31,408
83, 251
1, 687,196
1, 485, 652
1, 907,453
666. 925
3, 695, 774
1, 748. 764
1,115, 653
10,076,113
6, 702, 534
792, 075
75, 780
171, 606
34,076
72, 351
18,102
1,000 to 5,000 5,000 to 10,000
10,000 to
50,000
742
1
3, 925, 631
6,121,823
2,427. 500
3, 391,805
14, 543, 307
16, 312, 613
12,138,167
15, 571, 228
3,863, 659
13, 754,963
58, 368,045
47, 350, 536
2
3
4
5
6
865, 286
2, 357, 248
5,106, 707
8
38, 297,987
19, 342,155
49,079, 927
156,153, 305
9
1,906, 749
1, 759, 716
2, 849, 051
886, 963
4, 208, 980
2, 250,133
1,156, 879
4, 699, 233
5, 287, 911
9, 539,019
2, 794, 752
11,191, 686
7, 215, 279
2, 429, 893
1, 954, 786
3, 014, 503
4, 658, 281
1, 403, 750
5, 305, 548
3, 869,037
863, 748
4, 243, 901
8,049, 540
12, 419, 476
3, 867, 381
12, 400,441
9, 461,149
1, 361, 961
6,240, 783
27, 802,950
55, 715,018
8,972, 574
37,086, 652
21, 802, 536
1,467, 208
10
11
12
13
14
15
16
12, 704, 713
38, 297, 987
19, 342,155
6, 759, 202
808,117
102,866
162,148
37,143
75, 896
15,167, 815
2,073,917
311, 505
281, 313
91,492
178,148
5, 871, 273
1,008, 071
148, 995
110, 479
42, 693
64, 651
18, 407
2,769
2,393
50,000 and
and over
49,079,927
12, 043, 329
2, 995,169
351,168
167, 902
72, 623
158,919
7
156,153, 305 17
16, 799, 391
7,480, 580
1,418, 254
283, 266
112,437
349, 699
18
19
20
21
22
23
15, 908
8,289
23, 511
15,954
42, 228
26, 675
244, 285
97,386
142, 963
44, 825
479, 685
116, 748
1,960,415 24
385, 520 25
9, 687, 711
7, 887, 888
8, 014, 278
18, 445, 860
7,433, 950
16, 385, 542
28, 789, 563 26
6, 545, 420
553,022
360, 247
141, 415
120, 915
128, 912
84, 542
176, 523
9,174
14, 829
1,481, 095
5, 302,186
401, 890
232, 928
99,196
123, 577
131, 232
72, 780
164,087
12, 032
12, 297
1, 204,052
5, 285, 289
357,103
193, 522
98, 781
149, 242
164,135
74, 040
190, 356
16, 389
12, 688
1, 294, 565
11, 686,130
813, 267
289, 295
197,105
409, 846
430, 758
174, 305
503, 928
51, 656
40, 597
3,175, 201
4, 464, 739
379, 918
78, 099
80, 665
205,466
180, 597
65, 349
231, 597
29, 345
17, 302
1, 358,013
8,924, 615
1,066, 811
117, 402
182, 484
504, 452
482, 624
132, 328
609,891
76, 232
40,871
3,046,170
12, 943, 951
3, 798, 918
111, 348
293,400
1, 537,175
905, 330
204,089
1,174, 626
134,973
14, 930
4, 577, 792
9, 616, 094
7, 756, 257
7, 836,110
17, 772,087
7, 091,088
673, 773
332,102
126,156
5,507
342,862
155,074
56, 671
1,197
15,183,879
1, 201, 663
605, 230
148,195
3,436
71, 617
47, 420
36, 731
2,074
131, 631
92,165
38, 686
2,123
38, 806
40, 809
49,142
131, 663
57, 869
151, 631
32, 811
141, 597
9,232
90, 822
161, 693
12, 018
129,026
241, 814
17, 243
542,110
817, 242
45,17 5
284,993
414,478
6,037
1, 050, 032
1, 308, 295
18, 232
78019—38
5
178,168
109, 264
46, 812
2,330
27
28
29
30
31
32
33
34
35
36
37
25, 696, 532 38
3, 093,030
747,095
211,733
5,690
39
40
41
42
217,423
43
2, 875, 607 44
2, 697, 255 45
16,955 46
62
STATISTICS OF INCOME
TABLE 5.—Corporations submitting balance sheets, 1935, by total assets classes:
year nearest thereto, compiled receipts and compiled deductions, compiled net profit or
paid, for returns in the aggregate and for those with net income and with no net
[Total assets classes and money
PART II. RETURNS
Total assets classes
Total
Number of returns with balance sheetsL.
Assets: 2
Cash 3 . . . .
_
Notes and accounts receivable (less reserved for bad
debts)
—
Inventories
Investments, tax-exempt 4
Investments, other than tax-exempt s
Capital assets—Land, buildings, equipment, etc. (less
depreciation and depletion)
Other assets
Total assets.
Under 50
50 to 100
153,075
69, 714
24,953
8,961,115
17,413,103
168,167
400,463
158,527
474,164
10,205, 024
5,036,723
29, 519, 092
45,386, 789
318,955
7,205
45, 228
436, 575
347, 564
16, 054
89, 640
569, 404
5, 785,273
122,307,120
113,969
125, 826
1, 490, 561
1, 781,179
Liabilities: 3
Notes and accounts payable...
Bonded debt and mortgages
Other liabilities
Capital stock, preferred
Capital stock, common
Surplus and undivided profits..
Less deficit.
11,632, 338
16, 623, 599
17, 857,404
9,012,769
41,377, 226
27,315,494
1,511,711
420, 738
64, 267
117,428
42,639
826,130
245, 530
226,169
421,961
106,263
139, 847
81,964
824, 047
339,497
132,400
Total liabilities-
122, 307,120
1, 490, 561
1, 781,179
61,745,827
10, 613,931
804,172
534, 558
288, 936
761, 831
3,425,402
798, 292
7,931
28,311
9,804
31,122
3,235,376
437, 744
11,290
26, 016
11,433
26, 246
1,119
745
1,400
1,096
Receipts, taxable income:
Gross sales fi
Gross receipts from operations 7
Interest
Rents
Net capital gain
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations..
Interest on tax-exempt obligations 4
Total compiled receipts 8 .
Deductions:
Cost of goods sold 9
Cost of operations 10
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax 1
Bad debts
Depreciation
..
Depletion
12
Net capital loss
Other deductions
Total compiled deductions..
Compiled net profit (26 less 38).
Net income (39 less 24 and 25)..
Income tax
Excess-profits tax
Total tax..
Compiled net profit less total tax (39 less 43).
Cash dividends paid
_
Stock dividends paid.
For footnotes, see pp. 64-65.
1, 455, 764
191,175
76, 396,194
4, 302, 727
3, 750, 602
47, 266,428 2, 717, 512
4,175, 797
391,281
1, 356, 560
268, 826
826, 400
102, 407
1,127, 622
14, 498
1, 432, 333
28, 707
320,727
22,998
1,874,012
45,854
171, 040
2,340
15, 672
878
11,113,988
591, 960
2, 562, 811
208, 069
172,924
60,963
18,135
28, 618
22, 619
42,952
2,897
953
508,126
69, 680, 579
4,187, 261
3, 629, 068
6, 715, 614
5, 068, 676
696, 958
24, 564
115,466
113, 602
15,608
1,126
121, 534
119, 038
16,365
1,100
721, 522
16, 734
17, 465
5, 994, 093
4, 618,152
111, 859
98, 732
43, 095
1,317
104, 069
49,966
2,247
63
STATISTICS OF INCOME
number of returns, assets and liabilities as of Dec. 31, 1935, or dose of fiscal
net loss, net income or deficit, income tax, excess-profits tax, total tax, and dividends
income—Continued
figures in thousands of dollars]
WITH NET INCOME
Total assets classes—Continued
100 to 250
250 to 500
500 to 1,000
1,000 to 5,000 5,000 to 10,000
26,138
13,058
8,255
8,232
1,241
366,532
1,047,134
452, 059
1,076,058
570,188
1,225,547
1, 518,294
3,132,024
731,257
1,330,931
695,239
74,158
288, 251
1,403,157
666, 583
146,074
454,645
1, 527, 324
753, 608
256,182
725, 312
1,920,047
1,927,074
962,647
2, 960,714
5, 665,837
836, 774
487,456
1, 752, 511
3,115, 558
278, 284
276, 393
325, 711
910,613
436, 639
4,152, 755
4, 599,136
5, 776, 595
17,077,203
8, 691,127
810,161
297,817
438,833
215,132
1, 683, 506
873,178
165, 872
721.033
322, 263
715,194
284,103
1, 625, 313
1,066,180
134, 948
840, 431
404, 788
1,001, 354
403, 801
1,941, 517
1, 377, 851
193,148
2,110,848
1,279,724
3, 045,613
1,250,793
5,429,230
4, 251,862
290,866
947,119
821,090
1,485,853
605,407
2, 675,393
2, 249, 728
93, 464
4,152, 755
4, 599,136
5, 776, 595
17, 077,203
8, 691,127
5, 706, 575
669, 914
35, 258
60,369
24, 782
54, 708
4, 951, 251
514, 504
41, 026
51, 567
25, 753
48, 780
5,043,018
493, 630
53,148
51, 438
26,855
49, 924
11, 940,956
1,279,929
137,816
113,674
60, 711
118,459
4, 635, 949
582,095
65,180
46, 806
30,346
41, 273
10,000 to
50,000
50,000 and
over
328
I
1,805,126
3,044, 537
3,190,965
5,682, 244
2
3
1,825, 62,1
1,300,008
5, 583, 795
9,120, 062
2,833,607
1,786,940
17, 618,994
21, 628,825
4
1,156
1, 339, 3C3
5
6
7
1,978, 536
8
54, 720,110
&
3,120,001
9,965, 719
6,810,017
4, 282, 575
19,380, 397
11, 216,024
54, 623
T
O
1
1
12
13
14
15
16
24, 018,453
54, 720,110
17
9, 476,138
2,019,156
156, 849
75,362
44, 738
113,085
13, 331,163
3,818, 667
295, 674
81,015
54,513
278,232
18
^9
?,0
2
1
?,?,
23
24,018,453
2, 240,046
3,361,669
4,103, 266
1, 846, 356
6,991, 694
5, 695, 643
220, 221
6,190
3,944
11,214
7,319
20,167
10,972
110,224
36,745
64, 460
18,333
242,195
43, 906
998, 794
68,114
24
25
6, 561, 740
5, 651,414
5, 749,153
13, 798,515
5, 484,442
12,171, 429
18, 926,171
26
4,490, 787
306,878
244, 943
87,858
41,152
61,905
39,023
87, 949
6,319
1,844
915, 769
3, 863, 343
248, 200
163,041
62, 012
41,090
66, 285
31,051
84, 593
8,609
1,765
781, 325
3, 870, 553
195,848
136, 394
59, 540
49,019
92,839
31, 978
100,698
9,757
2,017
828, 675
9,100,876
505, 641
195,908
124,348
129,061
258,139
63, 209
276, 575
29,022
4,063
2,047,143
3, 489,017
218,472
51, 573
45, 609
65,155
105,352
22, 702
131, 278
15,445
1,270
843, 616
6, 905, 988
590, 546
74, 293
121, 758
220,485
317,188
47, 517
390,193
33, 681
1,768
2,104,186
10, 265, 541
1, 510,862
48, 659
161, 906
549,027
473, 300
39, 630
713, 921
62, 972
1,113
2,493,189
27
2K
?,9
30
3
1
32
33
34
3t
f
36
37
6, 284, 425
5, 351, 313
5, 377, 317
12, 733,985
4,989,489
10, 807, 603
16, 320,119
38
277, 315
267,181
36, 731
2,074
300,102
281, 569
38, 686
2,121
371, 836
340, 696
46, 812
2,329
1, 064, 530
917, 560
126,156
5,504
494,953
412,160
56, 671
1,195
1, 363, 826
1, 077, 725
148,195
3,432
2, 606, 053
1, 539,145
211, 733
5,682
39
40
41
42
217,415
42
.
38,806
40, 807
49,141
131,660
57,866
151, 628
238, 510
122, 763
8,038
259, 294
144, 035
10, 389
322, 695
210, 809
15, 244
932,869
669,692
35, 056
437,087
347, 507
5,377
1, 212,198
1,115, 729
17, 236
2, 388, 638 44
1,914, 555 45
16, 954 46.
64
STATISTICS OF INCOME
TABLE 5.—Corporations submitting balance sheets, 1985, by total assets classes:
year nearest thereto, compiled receipts and compiled deductions, compiled net profit or
paid, for returns in the aggregate and for those with net income and with no net
[Total assets classes and money
P A R T III. R E T U R N S
Total assets classes
Total
Number of returns with balance sheets i
_.
Assets: 2
Cash 3.
Notes and accounts receivable (less reserve for bad debts)
Inventories
Investments, tax-exempt 4
Investments other than tax-exempt 5
Capital assets—.Land, buildings, equipment, etc. Oess
depreciation and depletion).
Other assets
Total assets
Liabilities: a
Notes and accounts payable..
Bonded debt and mortgages..
Other liabilities
Capital stock, preferred
Capital stock, common,
_
Surplus and undivided profits
Less deficit.
262,130
Under 50
50 to 100
157,831
33,481
14, 703, 377
158, 899
21, 277, 358
575, 372
4, 583, 367
444, 590
16,826, 517
10, 467
60, 644, 052
108, 255
55,093,082 1,062, 358
99,316
426, 010
275, 660
16,409
146,085
1,197, 624
7, 715, 357
280,432
218, 706
180, 843, 111
Total liabilities
Receipts, taxable income:
Gross sales 6
Gross receipts from operations 7
Interest
Rents
_
-._
Net capital gain
_
Other receipts
Receipts, tax-exempt income:
Dividends from domestic corporations.
Interest on tax-exempt obligations *
Total compiled receipts 8
Deductions:
Cost of goods sold •
Cost of operations 10
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax "
Baddebts___
Depreciation
Depletion
Net capital loss 12
-_
_
Other deductions
1,142, 738
360,931
345, 867
144, 633
1,973, 487
210, 338
1, 537,621
680, 830
468, 388
183, 707
127, 247
1, 320, 347
241, 524
642,233
2, 640, 373
2, 379,810
180,843,111
_.
22,133,001 3, 806. 947
8, 391, 238 1,132, 243
1, 699,800
9,220
1,011,068
66, 937
163, 399
4,951
37,140
1, 461,480
507,722
1, 868, 066
375, 510
8,617
60,081
4,272
19,001
_
_.
2,288
935
5, 061, 603
2, 338, 771
17, 795,136
4, 688, 669
910,409
662, 325
2,032, 417
1,129,104
607, 340
1, 399, 211
166, 781
163,604
7, 363, 320
3,087, 426
676,037
339, 358
183, 672
39, 700
45,986
48, 371
81. 245
1,444
16, 306
840,881
1, 541,485
218,151
103, 020
48, 635
37, 033
34, 539
26, 645
52,165
1,338
7,625
399,455
36,918. 315
_.
3,442
723
35, 702, 301
Total compiled deductions
Compiled net loss (26 less 38)
Deficit (39 plus 2413
and 25)
Excess-profits tax
Compiled net loss plus excess-profits tax.__
Cash dividends paid
__
Stock dividends paid
2, 379,810
13, 699, 354
33,198, 296
71, 208,104
10, 520, 381
41, 355, 612
21, 512, 571
10, 651, 207
_
2, 640, 373
5, 360, 425
2,470,091
1,216, 014
3,185, 216
20
1, 216,033
1, 277, 523
23,171
298, 822
302, 988
131, 321
134, 543
(16)
298,822
12,982
5,392
(16)
131, 321
7,258
1,182
1 Excludes returns for inactive corporations and returns with fragmentary balance sheet data.
2 See text, pp. 11-16.
s Includes cash in till and deposits in bank.
* Includes obligations of States and Territories or political subdivisions thereof, obligations of instrumentalities of the United States, and obligations of the United States or its possessions.
« See text, p. 13.
6
Gross sales where inventories are an income-determining factor. For "cost of goods sold," see "deductions."
7 Gross receipts from operations where inventories are not an income-determining factor. For "cost of
•operations," see "deductions."
8 Excludes nontaxable income other than interest on tax-exempt obligations and dividends on stock of
•domestic corporations as reported in schedule L of the return.
• Includes taxes reported in "cost of goods sold." For method of tabulation, see p. 10.
i° Includes taxes reported in "cost of operations." For method of tabulation, see p. 10.
65
STATISTICS OF INCOME
number of returns, assets and liabilities as of Dec. 31, 1985, or close of fiscal
net loss, net income or deficit, income tax, excess-profit tax, total tax, and dividends
income—Continued.
figures in thousands of dollars]
WITH NO NET INCOME
Total assets classes—Continued
100 to 250
250 to 500
500 to 1,000
1,000 to 5,000 5,000 to 10,000
1,528
50,000 and
and over
1,237
414
1
15,547
9,847
323,422
857, 340
349,287
191,832
690, 682
2,632,465
470, 325
1,053.282
379, 766
344,957
1,140. 274
3,015,987
1, 548, 551
3,140,973
764, C03
1, 376, 237
5, 233,049
7,875,708
781,199
1,440,478
308, 639
741, 595
3,170, 581
3,779,889
403,721
431,947
523, 527
1,282, 261
5,051,352
5,476,977
6,928,118
21,220, 784
1,122, 617
1,123,956
751, 529
329,191
2, 216, 240
571,100
1,063, 281
966,163
1,163, 389
1,192, 259
382, 823
2,070. 462
682, 585
980, 705
1,066, 317
1, 354.928
1,847. 696
483,163
2, 267, 463
872, 282
963, 731
2, 588, 385
4,008,187
6,493,406
1, 543,959
5, 762, 455
2, 963,416
2,139,026
1,007, 666
2,193,413
3,172, 428
798, 342
2, 630,155
1, 619, 308
770, 284
2,003,855
4, 687, 872
8, 316, 210
2,021,025
5,408,748
3, 765, 505
1,141, 740
3,120, 782
17, 837, 231
48, 905,001
4, 689,999
17, 706, 255
10, 586, 512
1, 412, 586
10
11
12
13
14
15
16
5,051, 352
5,476,977
6,928,118
21, 220, 784
10, 651,028
25,061, 474
101, 433,195
17
3, 226, 859
793, 988
173. 689
167, 639
30, 781
59, 689
1, 235, 325
425,976
83,815
63. 672
12, 347
23, 379
2, 567,191
976,013
194, 318
92, 540
27, 886
45,833
3,468, 229
3, 661.913
1,122. 580
202,251
57, 924
71,467
18
15
(
20
21
22
23
237,490
72, 842
961, 621
317,406
24
25
32,070
253,958
817, 632
429,491
85,199
446, 563
2, 614, 788
2,492,917
433, 535
23,088
127,199
6,626
28, 542
1, 751. 283
277, 571
34. 754
120.039
8,323
23, 571
1,716,185
314, 488
49. 719
110, 710
10, 288
25,972
9,718
4,345
12,297
8,635
22,061
15, 703
10,175
10,000 to
50,000
134.060
60,641
2,120, 505
3,077, 286
601,879
2,091, 797
8, 959, 512
7,192, 551
8,947,202
9,888,984
1,030,052
11,968,023
40, 749,051
25, 721, 711
2
428. 647
1,017,945
3,128,171
8
10,651,028
25,061,474
101,433,195
9
78, 502
26,492
3
4
5
6
7
3,125, 971
2,236,473
2, 265,125
4, 647, 345
1,949, 508
4, 214,113
9,863, 392 26
2, 054, 633
246,144
115, 305
53. 558
79, 763
67,007
45, 520
88, 574
2,855
12,985
565, 326
1,438, 843
153, 690
69,887
37,183
82,487
64, 948
41,730
79,494
3,423
10, 533
422, 726
1,414, 736
161,254
57,128
39, 241
100, 223
71,296
42,062
89, 658
6,633
10, 670
465,891
2, 585. 254
307, 626
93, 387
72. 758
280, 785
172, 619
111. 096
227, 353
22, 634
36, 534
1,128,057
975, 722
161,446
26, 525
35, 057
140, 311
75. 245
42, 646
100, 319
13. 900
16, 031
514, 397
2,018.627
476, 264
43,109
60, 727
283,966
165, 436
84. 812
219, 698
42, 551
39,103
941,984
2, 678,410
2,288, 056
62, 689
131,494
988,149
432,030
164,459
460, 704
72,001
13,817
2,084, 603
3, 331,669
2,404, 945
2,458, 793
5,038,102
2,101, 599
4, 376,276
9, 376,414 38
205, 698
219, 761
168,471
189, 403
193, 668
231,433
390. 757
585,458
152, 091
257,086
3
152,094
66,971
660
162.163
472,495
17 486, 978 39
792,050 40
i
(16)
205, 698
18,834
1,194
168,472
17, 658
1,629
i
193,669
31,005
1,999
390,759
147, 549
10,120
A
162,166
192, 566
995
Q
27
28
29
30
3
1
32
33
34
35
36
37
41
18 486, 969 42
782, 699 43
(16)
44
11 Excludes taxes reported in I'cost of goods sold" and "cost of operations."
12 For limitation on amount of net capital loss that may be reported, see section of this report entitled
"Revenue Acts of 1913-1934 and certain tax provisions of the National Industrial Recovery Act (1933); also
the special excise tax under Act of August 5,1909," p. 104, footnote 5 (c).
13
Excess-profits tax of $19,584 appears on returns submitting balance sheets, with no net income for income
tax purposes. The credit for interest received on certain obligations of the United States and its instrumentalities, which is allowed against net income in the computation of the income tax, is not allowed against
net income in the computation of the excess-profits tax. (See article l(d) of Treasury Decision 4469, "Regulations relating to the excess-profits tax imposed by section 702 of the Revenue Act of 1934.")
i* Compiled net loss or deficit.
15 Compiled net loss plus total tax.
i« Less than $500.
17 Compiled net profit.
is Compiled net profit less excess-profits tax.
TABLE 6.—Corporations submitting balance sheets, 1985, by total assets classes for major industrial groups: selected assets and liabilities as of
Dec. 81, 1985, or close of fiscal year nearest thereto, selected receipts, compiled net profit or net loss, net income or deficit, and cash dividends paid, for returns with net income and with no net income
[Total assets classes and money figures in thousands of dollars]
[For text defining certain items and describing returns included, see pp. 1-4 and 9-16]
Capital
NumCash,*
Notes Bonded
Total
assets
ber of
returns notes and Inven- (less de- assets- and ac- debt and
Total assets classes with accounts tories preciation Total lia- counts
mortbilities payable
and debalance receivable
pletion)
sheets
Surplus
and undivided
profits
Common
less
deficit
Capital stock
Preferred
Gross
sales 2
Gross
Comreceipts Total piled net Net infrom compiled profit or come or
4
opera- receipts net loss 5 deficit
tions 3
Cash
dividends
paid
in
H
A G R I C U L T U R E AND RELATED INDUSTRIES—RETURNS W I T H N E T I N C O M E
Under 50
50-100
100-250
250-500
500-1.000
1,000-5.000
5,000-10,000 6
10,000-50,000
50 000 and over 6
Classes grouped...
Total
17, 624
26,193
68,080
74, 357
86, 538
226,178
123, 260
5,506
5,241
10, 623
11,039
14, 201
23,067
24, 339
1,490
2,343
6,409
6,531
7,334
18,955
4,011
733
364
430
213
125
109
17
6
8
6
1
3,234
3,453
9,470
10, 227
8,513
28, 991
14,966
35, 270
19,326
100,476
292,036
22, 873
114,126
98,339
468,190
914, 266
116,888
49, 679
605
992
1,943
666
4,312
6,938
3,188
10,091
16. 703
41,117
45,109
54, 481
127, 557
72, 656
169, 844
18, 642
453, 434
7
11,940
15, 282
36, 695
34, 885
42, 688
102,176
39, 925
2,606
2,000
2,435
3,340
10, 055
10,158
12, 570
26, 605
13, 848
2, 857
937
8,114
16,039
13, 824
60. 878
48,254
23,053
12, 899
32, 233
24, 608
30, 451
70, 891
33,835
4,341
2,755
3,394
2,443
1,903
3,106
842
76, 476
32, 072
44,735
87, 809
18, 745
12, 832
15,387
221, 666
260, 042
63, 518
350,471
51,107
42, 939
31, 582
28, 218
16,171
37,141
29,260
34,357
79, 385
38,129
1 249
1,403
3,200
3,614
3,656
12, 468
6,772
1 243
1,374
3,140
3 049
3,467
11, 701
6,133
335
471
989
1,598
1,979
6,457
4,367
A G R I C U L T U R E AND R E L A T E D INDUSTRIES—RETURNS W I T H NO N E T I N C O M E
Under 50
50-100
100-250
250-500
500-1 000
1,000-5,000
5.000-10,000
10 000-50 000
2,387
928
920
423
241
220
19
5
6,245
6,760
14, 846
16,156
14, 729
31,035
13, 699
9,316
5,807
7,875
15, 623
13, 264
12, 664
26, 424
6,589
725
33,381
44,125
96,028
91, 387
104,927
277, 663
63, 320
49,485
50, 793
66,464
144, 239
149, 891
168, 678
429,163
122, 280
61,198
21,098
20, 880
45, 444
32, 360
36. 589
78, 028
18, 244
22, 709
8,606
10,170
22, 629
20, 389
23,192
60, 593
17, 259
4,616
1,986
2,940
7,141
8,417
6,683
25, 822
5,707
41,173
43,066
84,187
82,195
82, 765
198, 821
49, 742
22, 677
5,143
112, 786
88, 971
760,316
1,192,704
275, 352
167, 455
58, 697
604, 625
7
26,021
17, 246
31, 758
7
9,544
7
50o
24, 836
27, 414
7
2, 691
7
7
19. 692
15, 008
25, 013
22, 986
17,185
42, 256
19, 325
822
8,324
4,659
7,622
3,449
4,501
5,462
2,774
548
162, 286
37,341
215. 733
7
28. 894
20, 670
34, 479
28, 583
24,109
53. 245
24.205
1,548
7
7
7
7
7
7
4, 458
3,181
5, 716
3, 920
3, 790
9, 429
7
668
1, 755
7
4,471
3, 227
5, 839
7
4, 238
7
4, 332
7
11, 095
7
1 , 364
7
1 , 811
28
87
299
293
593
1,334
431
7
3,064
7
7
50,000 and over
Total
7
35, 605
7
32, 915
36,377
i
a
Ui
o
o
g
M I N I N G AND QUARRYING—RETURNS W I T H N E T I N C O M E
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000.-..
10,000-50,000.-50,000 and over
Total
1,406
642
737
443
299
317
61
48
7
7,093
9,194
23, 083
28, 656
40, 366
94,158
47, 554
146,180
53, 428
3,960
449, 711
595
1,094
2,724
3,827
5,092
20, 634
12, 314
44, 633
42, 222
17,993
28, 407
73, 541
99, 457
126, 221
427, 495
266, 702
524, 200
467, 669
29,922
45, 807
117, 524
160,162
211,603
688, 641
416. 798
967,155
682, 686
6,660
6,87"
18, 593
19,102
21, 777
76, 039
32.141
78, 947
46, 200
843
1,361
3,629
8,144
10, 660
39, 332
35. 421
42, 759
133,134 2,031, 684 3,320, 297 306, 335
142,178
1,289
48, 922
36, 232
77, 488
87, 706
112, 977
318, 751
162,415
423,151
223. 240
7 32, 539
7 6, 927
352
21, 716
38, 672
179, 717
140,106
300, 519
389,082
15, 486
25, 615
69, 362
83, 890
97, 264
239, 527
106, 339
239,534
130, 251
31,008
35, 605
85, 504
95, 981
109,111
267,144
122,467
274, 559
137, 626
4,362
4,549
10, 360
12, 791
15,138
38,182
17, 333
55, 624
25, 961
90,129 1, 490, 8811, 030, 698 1, 007, 270 79,567 1,159,003
184, 299
2, 7!" •
5,416
6,951
6,835
26, 822
20, 48:
19, 544
13, 619
8,052
11,313
7,218
6,131
12, 470
8,247
11,217
1,299
4,224
4,430
10,146
12, 284
14,014
32, 200
13,113
43, 455
21, 421
4,127
3,289
7,715
10, 273
12, 531
34, 716
22, 400
62, 821
37, 398
155, 287 195, 269
MINING AND QUARRYING—RETURNS WITH NO NET INCOME
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000- •__ -_
5,000-10,000—
10,000-50,000-.50,000 and over
Total—.
3,312
1,131
1,250
629
480
556
88
69
16
11, 684
11, 535
24, 029
23, 451
33,171
105. 836
38, 302
76, 491
118, 076
7,531
442, 575 184,028 3, 882, 604 6,199,168
39, 822
64, 321 32, 441
1.719
81, 458 26,117
1.944
51, 679
200, 599 58, 631
4,665
127, 485
224, 505 67, 713
4,826
146, 461
343, 429 68, 969
7,576 218.038
26. 778 773, 537 1.186, 468 174,120
614,122 97, 592
9,994 460, 575
56, 210 1, 019, 476 1, 380, 364 205, 378
2,103, 900 134, 530
70, 316 1,045, 530
865, 492
7,984
4,822
16, 899
19, 216
32, 219
159, 066
108, 501
218, 455
338,129
905, 292
4,630
6,094
11, 923
11, 870
24, 360
85, 776
21, 289
39, 325
63, 384
100,107
73,152
153, 214
170, 448
213, 321
579, 667
280, 469
535, 603
851, 097
268, 651 2, 957, 079
7 95, 383 22, 606
7 40, 529 14, 408
7 69, 726 35, 419
7 74, 414 39, 860
7 43, 368 56, 345
45, 085 164,862
72, 789 66, 786
292, 836 346, 280
631, 515 284, 218
23, 601 48, 328 77 11, 635
31,611
6, 954
15,412
25, 649 64, 304 7 10, 674
7
14, 759 58, 497 7 10, 278
15, 930 76, 977 15, 725
17, 217 194,707 7 25, 631
4,345
75, 649 7 13, 991
12, 296 378, 709 7 716, 365
6,564 330, 423
2, 873
7 11, 677
7 7, 049
7 11,060
7 10, 826
7 16, 537
7 29, 683
7 15,184
i 24, 627
7 34, 605
718, 805 1, 030, 785 135, 774 1, 259, 2067 114,126 7 161, 248
569
303
1,123
677
3,555
14,925
1,655
20, 442
16,951
60, 200
TOTAL MANUFACTURING—RETURNS W I T H N E T INCOME
Under 50
50-100
100-250
250-500.
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 and over
Total
13, 202 116, 814 60, 683
152, 055 94, 048
6,149
351, 845 259, 038
7,225
393, 683 317, 323
4,011
2,730 494, 222 424, 701
229,
2,802 1, 380, 312 1. 562
411
618, 790 547, 271
360 1, 457, 841 286, 975
974, 268
84 2, 660, 264 1
81, 323
95, 881
213, 697
220, 787
269.480
706, 008
308, 618
743, 652
004,
1, 465
11,189
18, 068
48,181
61, 220
83, 746
218,287
141, 732
487, 651
739, 513
5,202 814, 792
10, 395 173, 031
21, 616 216, 348 62, 969 962, 826
78, 858 507, 478 244, 660 2,108, 069
122, 455 555, 515 380, 523 2, 223, 687
183, 043 709, 594 563, 988 2, 662, 688
627, 014 2, 128,016 1, 823, 728 6, 549, 633
290, 792 946, 415 """ 277 2, 679, 59'
49,
695, 017 2, 586, 236 2, 214, 475 5, 239
10,241,211
573, 953 5, 214, 593 3, 946, 291
859, 610 24, 272
39,
35, 022
17, 072 986> 472
99, 295
1,413
17, 533 2,143,
12, 766 2, 259,
i,497 128, 042
r
11, 567 2, 707,
,022 183, 715
36,102 6, 697, 463 536, 507
9, 449 2, 752, 357 256,150
!,357
53, 585 5, 966,
f,305 627, 863
L,
53,641 10,852,915 1, 070,626
24,084
34, 662
97, 839
124,950
177, 895
499, 828
230, 336
547. 791
731, 039
7,869
11,930
38, 705
55, 850
92,109
297,498
172, 482
463,121
701, 388
36,974 7, 625,826 6,193, 869 11, 819,162 34. 695, 556 3, 643, 911 1,809, 588 3, 603,143 13, 037,225 10,202,114 33,991,791 419 35,225,052 2,961, 492 2,468,424 1,840,952
251,
For footnotes, see p. 83.
95, 692
304, 607
142, 219
443, 420
391, 561 1,158, 695
494, 323 1, 417, 574
681, 274 1, 913, 622
2,090,940 5, 859, 613
1, 027, 712 2, 839, 649
2, 557, 268 7, 246, i
4, 338,173 13, 511, 712
) i
H
M
O
TABLE 6.—Corporations submitting "balance sheets, 1985, by total assets classes for major industrial groups: selected assets and liabilities as of
00
Dec. 31, 1935, or close of fiscal year nearest thereto, selected receipts, compiled net profit or net loss, net income or deficit, and cash dividends paid, for returns with net income and with no net income—Continued
[Total assets classes and moneyfiguresin thousands of dollars]
Num- Cash,*
Capital
ber of
assets
Notes Bonded
Total
returns notes and Inven- (less de- assets- and ac- debt and
accounts tories preciation Total lia- counts
Total assets classes with
mortand debalance receivbilities payable gages
able
pletion)
sheets
Surplus
and undivided
profits
Common
less
deficit
Capital stock
Preferred
Gross
sales'
Gross
Comreceipts Total piled net Net infrom compiled profit or come or
4
opera- receipts net loss 5 deficit
tions 8
Cash
dividends
paid
TOTAL MANUFACTURING-RETURNS WITH NO NET INCOME
U n d e r 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000. ._ 10,000-50,000...
50,000 a n d over
30, 559
147, 813
6,203
103, 704
5,893
189, 851
169, 721
2,707
189,910
1,642
453, 311
1,442
193, 380
192
499, 641
163
42 1,191, 835
97, 064 188, 312
82, 391 180, 259
174,128 396, 305
174, 471 431, 426
212, 284 538, 218
475,430 1, 397, 324
191,115 690, 600
398, 764 1, 514,!
705, 891 3, 073, 925
512, 873 215.184
42,617
441, 806 138, 732
36,634
922, 734 250, 281
80, 448
949, 814 219, 394
83,153
1,159, 555 251, 984
115,081
2,940, 992 486,106
359, 577
1, 360, 603 170, 497
235, 409
3, 307, 754 352, 900
6, 390, 216 1,, 015, 934 1, 095, 656
404, 521 7 260, 019 989,138
39,156
281, 340 7 95, 221 577, 669
35, 360
518, 395 7 110,695 975, 200
96, 299
521, 352 7 82, 255 825, 666
126, 762
538, 489
7 753 880,207
155, 313
430, 967 1, 238, 344 211, 205 1,944 817
518, 703 143,504
175, 790
454, 724 1,125, 332 555,170
485, 039 2, 095, 794 1,166,102 3, 053, 904
48,843 3,139,167 2,511,539 8, 411, 357 17, 986,346 3,101, 011 2, 577,424 1, 999, 410 7, 242, 269 1, 527,040 11,623,626
Total
[,073,906
77,\ 375 1,
21,755 605, 253
27, 487 1, 014,851
14, 660 852, 306
13,834 907,789
19, 093 2, " . , 5 8 2
001,
10,183 788, 445
"•
25, 408 1,703, 583
81, 098 3, 300, 489
7 65, 796
* 65, 510
7 31, 868
7 31,606
7
7 60, 416 7 61, 667
51, 426
7 50,101
7 59,236
7 57,500
7103,805 7112, 606
7 43, 732 7 50, 423
7 88, 223
7 55,664
597 7 114,803
2,201
886
3,144
4,141
5,442
20,912
8,216
29,308
268, 587
290,893 12,248,203 7 467,7381 7 636,048
342,837
O
g
o
O
MANUFACTURING: FOOD AND KINDRED PRODUCTS—RETURNS WITH NET INCOME
Under 50
50-100
100-250.
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 and over
_
_
Total
1,814
885
1,040
524
346
352
50
48
14
6,538
11, 429
11, 039
16,180
39, 021 31, 267
44, 095 33, 201
59, 900 49, 706
164, 494 143, 095
89,801
78, 219
247, 639 158, 201
283,169 274, 388
5,073
955,727
10,702
20,415
41,881
29, 922
63, 244 13, 492
167, 278 30, 552
78, 743
81, 834
184, 637 29,802
240,198
40, 262
96,445
269.145
699,695 128, 681
136,964
353,403
69,483
342,187 1, 020,308 69, 922
461, 856 1,476,375 121, 768
785, 655 1, 517, 510 4, 247,019 514,663
25,956
7 988 143,818
8,841 173,141
31,000
71, 468 35,845 384, 275
69, 653 48,229 402, 523
90, 493 65, 644 504,882
232, 924 184, 690 1, 386,957
116,401
90,779 634,820
329, 560 364,137 1,146, 331
531,157 318, 868 2, 306, 262
4,134 148,644
2,942
1,691 175,853
4,265
2,087 388,960
12, 754
1,123 407,159
16,010
1,222 510, 348 19, 985
4,582 1, 406,698 69,991
1,124 646,690
36,025
5,200 1,173, 607 95, 847
14,362 2, 379,137 112,183
2,926
4,195
12, 545
15,527
19,319
64,992
32, 515
84, 792
78,552
1,290
1,696
5,417
8,659
12,131
48,480
19,421
72,839
74,396
313, 353 532,978 1,498,612 1,116, 0437,083, 009
35, 526 7, 237,096 370,001
315,363
244,329
2,035
1,216
3,041
2,789
8,687 11, 279
12,731
15,179
10, 534 19, 873
32, 058 75, 790
18,640
38, 425
78, 253 115, 459
147, 375 252,968
MANUFACTURING: FOOD AND KINDRED PRODUCTS—RETURNS WITH NO NET INCOME
Under 50
3,742
1,029
936
355
183
165
16
6 13
61
60,042
Total
14,049
14,198
25,066
22,385
21,157
54, 314
17, 277
32, 616
150,169
436, 381
71, 582
87,302
6,440
50-100
100-250
250-500
500-1,000 1,000-5,000
5,000-10,000—
10,000-50,000 6
50,000 and over 6
Classes grouped
228,489
180,825
646,497
1,413,683
303,604
251,789
9,928
10, 364
22, 419
18, 940
21,607
48, 364
16, 588
36, 844
39,048
77, 021
61, 482
65,540
157, 577
58,816
68,916
72, 981
144, 455
123, 272
, 125, 322
330, 229
112,128
26, 428
22,075
39, 279
30, 670
33, 089
62,128
18, 354
6,486
6,955
16, 003
12, 279
19, 667
66,696
36, 400
47, 345
44, 204
76, 655
51,892
48, 825
118, 572
26,894
"> 23, 002
110, 029
7 12, 651
9,641
7 639
4,781
944
185, 886
135, 636
230,112
182, 093
166, 082
405, 327
166,192
67,566
102,303
89, 632
414,398
181,374
516,690
58,678 1,885, 725
3,945
4,207
13, 491
10, 443
14,919
48, 003
18,800
6,768
2,854
4,318
1,818
2,432
2,863
820
2,203
7
193, 594
139, 486
236, 438
185, 396
170, 284
413, 742
168, 626
432, 918
7
7
7
7
7
7
7,697
4, 849
8, 732
5, 633
5,698
8, 937
3,017
7
7,722
7
4,901
7 8,992
7 5,737
7 5, 846
7 10, 871
7 3,700
7
237
130
602
955
876
5,302
1,403
5,264
8,621
53,033
18,127
3,109
2,508
6,155
9,722
12, 682
40,149
12, 814
23, 661
3,090
2,486
6,054
9,672
12,416
38,835
12,504
22,586
2,092
1,248
3,038
4,346
4,713
12, 676
7,147
21, 834
4, 598 1,103, 742 110, 800
107,641
57,094
24,076 1,940,484
5, 758
7
38,807
7
MANUFACTURING: LIQUORS AND BEVERAGES (ALCOHOLIC AND NONALCOHOLIC)—RETURNS WITH NET INCOME
Under 50
50-100
100-250
250-500
500-1,000.
1,000-5,000
5,000-10,000
10,000-50,000--50,000 and overTotal
503
225
232
161
137
137
14
11
2,646
3,695
8,033
10,430
18,805
57,953
24, 511
31,097
1,777
2,296
5,935
9,391
15. 252
40, 811
20,985
52,772
5,932
7,003
17, 057
31,845
49, 310
127,065
33,611
66,980
12, 225
16,800
36, 756
57,944
96, 521
271, 351
96,299
173,966
2,318
2,894
7,663
9,894
17,441
47, 947
16,171
29,959
406
767
1,816
2,898
6,208
13, 609
6,103
18, 780
207
496
2,197
3,772
5,294
7,703
5,032
13, 507
1,420
157,171
149,219
338,803
761,862
134, 288
50, 587
38, 207
MANUFACTURING:
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000 6
10 000-50 000 6
50,000 and over
Classes grouped
Total
6,547
7,565
15,177
20, 277
31,123
72,529
28,496
25, 352
207,065
1,801
30.079
3,448
33, 703
7,808
68, 657
16, 736 97, 954
30, 694 138, 667
110, 077 371, 636
33,996 114, 782
71, 676 230, 396
276, 237 1,085,874
256
165
247
391
240
,988
386
925
30,512
34,106
69,472
98,930
140,099
377, 712
116, 564
236, 345
a
o
LIQUORS AND BEVERAGES (ALCOHOLIC AND NONALCOHOLIC)—RETURNS W I T H NO N E T I N C O M E
733
177
189
110
67
46
62
61
2,569
1,947
3,932
4,515
3,697
14, 662
2,045
3,031
6,255
21,170
1,736
2,272
1,325
33, 366
34,338
140,038
257, 258
60, 208
34, 324
2,397
2,285
4,806
4,916
4,111
12, 792
6,225
6,326
15,895
24,076
31, 732
49, 529
13, 542
12, 783
29, 220
39, 384
47, 559
93,602
4,997
4,265
8,513
10, 246
8,205
22, 245
1,163
1,060
3,538
4,278
8,810
13,203
7
5,109
1 , 805
2, 205
2, 520
2,276
13, 869
24,822
16,121
30, 948
35, 353
31,477
62,123
1,
1,
2,
7
2,
7
2,
7
4,
544
217
207
385
536
616
9,811
6,944
14,097
18,047
20, 840
31, 824
3,147
13, 842
4,241
262
4,564
7 329
16,173
104, 711
23, 389
205,086
4,304
211, 537
' 14,833
7
7
811
592
966
253
124
1,296
25, 794
16, 831
32,124
36,021
31, 950
64, 252
7
569
756
2,261
1,762
4,376
6,450
7
7
71,544
71,226
2, 208
7 2,396
7 2,544
7
4, 726
7
7 329
714,974
15
28
12
47
18
480
20
620
For footnotes, see p. 83.
CO
TABLE 6.—Corporations submitting balance sheets, 1935, by total assets classes for major industrial groups: selected assets and liabilities as of
Dec. 31, 1935, or close of fiscal year nearest thereto, selected receipts, compiled net profit or net loss, net income or deficit, and cash dividends paid, for returns with net income and with no net income—Continued
[Total assets classes and money figures in thousands of dollars]
NumCapital
Cash,*
ber of
Notes Bonded
Total
assets
returns notes and Inven- (less de- assets- and ac- debt and
Total assets classes with accounts
morttories preciation Total lia- counts
balance receivbilities payable
and deable
sheets
pletion)
MANUFACTURING: TOBACCO
Under 50
50-100
__
100-250 .
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 and over
Total.._
26
19
29
16
9
18
4
10
4
198
539
1,505
1 603
1,599
8 542
5,472
35, 491
164, 807
135
219, 758
172
498
1,647
2 103
2,698
16 856
13, 712
88,927
285,173
123
223
658
997
1,527
5 694
3,034
15, 575
47, 942
560
1 432
4,647
5 693
6,428
48 200
26, 394
215,088
644, 727
112
288
1,135
1 554
1,452
3 384
3,368
18, 683
11, 686
411, 786
75, 772
953,169
41, 661
Capital stock
Surplus
and undivided
profits
less
Common
deficit
Preferred
Gross
sales*
PRODUCTS—RETURNS WITH N E T
Gross
Comreceipts Total piled net Net infrom compiled profit or come or
4
opera- receipts net loss s deficit
tions 3
Cash
dividends
paid
INCOME
Xfl
1
33
114
197
146
264
7
55,477
131
436
1,297
448
7,327
2,329
32, 205
83, 374
355
510
2,038
1,523
2,302
19, 607
8,380
69, 327
312, 631
66
401
818
1,056
2,003
16,129
11, 939
72, 449
157, 744
1,042
3,601
8,893
8,029
6,475
51, 073
22, 731
208,125
744,179
56,232
127, 553
416, 674
262, 605 1,054,148
1,100
3,699
8,945
8,144
6,539
51, 410
23, 257
212,117
763, 576
39
181
315
211
210
4,982
1,501
21,456
88, 365
39
181
308
204
196
4,779
1,401
20,447
71,687
20
42
115
121
158
3,188
1,432
13,541
76,886
1,204 1,078, 787
117, 261
99, 242
95,503
51
81
8
47
1
33
35
826
120
Under 50
129
27
29
7
896
702
1,439
298
1,434
136
60
120
63
65
6
6
• 30,852
697
207
47,210
5,466
650
451
484
1 030
364
1,065
1,995
1 903
4 711
2 864
4,885
9,225
7
10,067
3,230
13,476
15,150
6,625
112
60
934
585
1,031
1,480
1,340
3,095
1,120
2,229
7 805
7 321
71,074
354
82
4,011
2,421
4,636
2,859
3,504
12, 424
5,946
11, 208
15,211
9,444
32, 700
7 232
7 156
7 289
7 102
7199
2
4,050
2,442
4,921
2,913
3,564
15,501
33, 393
71, 111
7 232
7 157
7 295
7
106
7 216
5
16
15
7 169
7133
274
15, 268
15,146
18
7
247
937
9
1
1
Classes grouped
Total _
536
593
1,457
756
1,742
677
518
1,224
964
869
206
O
3
Q
O
M A N U F A C T U R I N G : TOBACCO PRODUCTS—RETURNS W I T H NO NET INCOME
50-100
100-250
250-500
500-1,000_._
1,000-5,000 6
5,000-10,000 « .
10,000-50,000 6 —
50,000 and over
t
7
1,176
983
MANUFACTURING: TEXTILES AND THEIR PRODUCTS—RETURNS WITH NET INCOME
U n d e r 50
50-100
100-250
250-.500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 and o v e r . . .
2,336
1,034
1,105
639
432
407
44
36
3
27,877
35,372
67, 939
70, 707
80, 324
193,002
49, 759
129,688
30, 293
14,899
21,419
52,900
64, 263
85,408
227, 479
73,806
164,802
43, 711
9,739
13,100
41, 242
67,200
97,050
305. 654
118,175
236,928
111,323
55, 465
74, 716
176,365
223,033
296, 597
833. 647
292,152
654,140
219,365
17,912
23,463
46,965
45,4i87
46, 796
110,080
37, 377
37, 723
22,015
880
1,971
5,145
7,067
9,193
29, 628
5,687
20, 014
1,586
4,058
12, 431
23, 339
29, 750
102, 771
46, 739
75, 460
38, 322
Total
6,036
684,961
748, 687 1,000,410
2,825, 480
387,818
79, 586
334, 456 1,007,932
29,421
33, 644
75,484
88,012
113,572
299,823
89,355
266,122
12,500
224, 724
249,478
467, 610
455,064
478, 228
985,164
269,396
482,177
152,980
8,927 234,435
3,651 254,084
4,267 474,424
3,435 462,293
961 484,890
7,330 1,007, 843
327 274,418
3,831 496,195
103 155,554
2,868
4,167
11.091
16,143
21, 546
55,184
14, 467
44, 737
10,986
2,859
4,149
10,982
15,874
20,910
52, 460
13,157
40, 431
9,574
316
775
2,369
6,091
8,184
26,679
8,947
23, 796
14, 496
825, 677 3,764,823
32,832 3,844,134
181,190
170, 396
91, 652
714,311
7 5, 246
7 9,015
7 8,287
7
10,121
7 22, 314
7
11, 238
7
14,064
218
170
364
349
803
3,352
1,652
3,150
7 94, 597
10,057
1,745
7,509
27,030
48,860
84, 694
250,033
93,758
213, 606
98,442
MANUFACTURING: TEXTILES AND THEIR PRODUCTS—RETURNS WITH NO NET INCOME
U n d e r 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000....
50,000 and o v e r .
Total
5,884
920
788
378
245
250
34
22
35, 574
21, 288
32,029
23, 826
31, 567
79,815
26, 320
54, 378
22,679
18,061
29,903
32, 610
44,142
114, 693
45, 226
66,446
22, 449
18, 761
47, 263
64,285
83,228
278,004
139, 718
152, 470
8,521
304, 798
373, 759
16,177
88,191
64, 304
124,413
137, 703
183, 340
533, 598
244,105
352,070
38,401
24, 405
41,138
33, 644
35, 294
87, 472
23, 393
27, 505
8,610
4,038
7,737
8,938
13, 842
31,840
24, 670
36, 573
5,204
5,190
13, 493
18, 835
23,081
98,195
31, 322
39, 242
1, 727, 725 311, 251
136, 248
234, 560
65,153 7 39,915
35, 619 7 10, 745
64,924 7 12, 382
75,212 7 10,192
94,895
2,512
225, 714
57,327
113, 431
31,046
107,226 103, 286
782,173
319, 681
162,131
216, 790
168, 038
189, 794
458, 499
170, 883
246, 293
120,938 1, 932,110
29,218
5,070
5,004
1,787
1,931
2,150
881
770
350,450 7 14, 260
7 5,222
168,196
223,804
171,831
7 8,081
194,170
7 9,846
468, 078 7 21, 396
174, 684 7 10,956
250, 595 7 13, 305
46,810 2,001,808
7 91,995
Under 50
314
176
262
147
82
84
13
Total...
2,343
4,500
14, 544
19, 314
22,197
77, 510
24,996
1,311
2,190
6,818
8,948
10, 505
35,979
17, 731
7,722
12,988
41,496
51,103
57,088
187,819
90,644
2,472
4,080
11,037
12, 578
12, 750
31, 535
6,409
159
328
616
1,087
839
3,889
4,243
295
732
2,885
4,614
6,076
37, 411
18,138
4,338
5,295
16,028
17,196
22, 508
59, 360
23,981
7
150
1,664
8,403
13,243
12,178
43,877
31, 764
27, 331
39, 676
107,874
113, 656
105,491
252,697
87,820
297
251
91
59
121
1,581
334
27,757
40,145
108,771
114,759
106, 713
257,072
89,047
427
817
3,245
3,703
4,746
15, 369
5,135
426
814
3,215
3,627
4,550
14,928
4,876
50
107
846
997
1,606
5,673
2,369
64
«1
56, 316
1,083
For footnotes, see p.
3,514
5,544
16,211
17, 644
18, 338
51,906
22, 506
Xfl
O
a
o
MANUFACTURING: LEATHER AND ITS MANUFACTURES—RETURNS WITH NET INCOME
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000 6
50,000 a n d over 6
Classes grouped
1
57,031
40, 607
178,891
9,575
6,647
5,845
98,760
53,809
189,789
84
191,149
15,442
15,293
16, 691
191,979
222,435
124,090
627, 751
90, 437
17, 808
75,998
247, 465
164,788
924, 334
2,819
935,413
48,885
47, 730
22,338
TABLE 6.—Corporations submitting balance sheets, 1935, by total assets classes for major industrial groups: selected assets and liabilities as of fcO
Dec. 31, 1935, or close of fiscal year nearest thereto, selected receipts, compiled net profit or net loss, net income or deficit, and cash dividends paid, for returns with net income and with no net income—Continued
[Total assets classes and money figures in thousands of dollars]
NumCash,'
ber of
notes and
returns accounts
Total assets classes
with
receivbalance
able
sheets
Inventories
Capital
assets
Total
(less deassetspreciation Total liaand debilities
pletion)
Capital stock
Notes
Bonded
and ac- debt and
counts
mortpayable
Preferred
Surplus
and undivided
profits
Common
less
deficit
MANUFACTURING: LEATHER AND ITS M A N U F A C T U R E S — R E T U R N S
Under 50 .
50-100
100-250
250-500
500-1,000
1,000-5,000«
5,000-10,000 6
10,000-50,000 8
50,000 a n d over
Classes grouped _ .
Total
Gross
sales 2
Gross
ComTotal piled net Net inreceipts
from
compiled profit or come or
opera- receipts A net loss 8 deficit
tions 3
WITH NO N E T
INCOME
7
1,167
4,590
3,833
6,979
6,587
7,190
3,770
3,283
7,481
6,852
8,395
2,965
3,025
6,677
7,667
6,607
12, 550
11, 516
* 23, 588
25, 267
27,875
5,591
4,159
7,064
7,121
6,319
487
464
1,592
1,635
1,396
1,215
1,312
2,820
5,541
5,944
9,066
8,229
12,069
11,150
17,098
7
5,182
3, 633
1 , 386
7
1, 468
7
3,985
34,135
23, 647
47, 766
33,964
29, 669
1,126
7
751
468
87
35, 525
23,864
48,906
34, 930
30,128
10,122
724
157
151
73
40
6 20
«i
fl
1
16, 310
12, 308
64, 933
4,811
26, 203
18,806
16, 777
7
9, 236
47, 399
229
49,203
39, 300
46,092
39,249
165, 709
35,065
31,777
35, 637
74, 389
24,890
216, 579
2,668
222, 557
7
7
7
Cash
dividends
paid
2,016
1,094
1, 476
7
1, 420
7
995
7
7
7
2,019
1,099
1,487
7
1,459
7
1,054
7
7
54
1
26
51
83
o
7
7
239
7
1,104
841
7,241
7
8, 221
1,055
MANUFACTURING: RUBBER PRODUCTS—RETURNS WITH NET INCOME
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 and over
__
Total
7
66
33
60
49
22
37
10
5
3
636
684
2,961
5,262
3,162
17,464
15,113
33,848
121, 631
395
523
2,343
3,870
2,813
17,314
16,909
38,975
73,068
583
779
3,633
6,200
5,919
32,687
23,454
27,467
79,153
1,814
2,432
9,904
17, 283
14,842
77,455
67,271
109,510
488,450
627
552
2,434
2,276
1,366
11,180
8,348
10, 239
25,064
140
73
392
545
1,013
1,902
8,059
2,778
90,105
122
217
834
2,003
2,916
8,820
2,754
11, 288
152,014
923
1,118
3,740
6,723
4,504
30, 760
22, 020
28, 394
117,486
166
290
2,068
4,615
3,738
19, 784
23, 468
48, 238
65,440
4,650
5,761
17, 789
25, 218
15,482
89, 536
52, 915
175,167
271,326
78
7
4
18
87
115
91
55
523
4,746
5,807
17, 919
25,398
15,672
90, 659
54,550
176,943
280,340
141
198
891
1,570
1,153
6,281
2,951
12, 577
9,792
141
193
887
1,547
1,150
5,789
2,203
12, 224
5,986
29
12
321
681
252
2,889
88C
3,772
6,581
285
200,761
156,212
179,875
788,963
62,085
105,007
180,968
215,666
167,474
657,844
979
672,033
35, 553
30,119
15,417
a
o
S
M A N U F A C T U R I N G : R U B B E R P R O D U C T S — R E T U R N S W I T H N O NET INCOME
(8)
Under 50
50-100
100-250
250-500
500-1,000
l,000-5,G00
5,000-10,000
10,000-50,000
50,000 a n d o v e r . . .
166
38
38
8
15
21
3
4
626
525
1,624
363
1,427
9,104
3,167
25, 060
560
477
1,316
361
1,317
7,908
3,371
14,096
983
1,370
2,626
1,855
5,917
19,935
8,563
26, 735
2,617
2,786
6,300
2,976
10,337
41,621
24,633
72, 579
1,000
913
1,383
276
2,928
9,1.12
858
27,124
122
130
507
378
749
4,593
2,350
10, 212
229
332
1,577
187
2,724
9,033
8,586
17, 547
1,972
1,654
3,017
1,154
6,023
17,741
6,471
13, 027
71,157
7712
7 527
872
7
2,998
7
1,165
5,891
3,318
4,874
3,208
7,563
2,019
9,716
31, 709
13, 611
39,053
48
55
168
7
45
35
12
1
4,958
3,307
7,799
2,050
9.823
32,126
13, 915
39,654
7 468
7 275
7 711
7 75
7
1,547
7 2,159
7 522
7
766
7 469
7 278
7 714
7 70
71, 551
7 2,226
7 602
7
816
Total
293
41,896
29,406
67,985
163,849
43, 596
19,041
40, 214
51,057
3,523
111, 753
370
113, 633
7 6,524
7
6,732
1,006
1,074
810
336
470
465
1,146
203
46,011
50,425
132,803
122, 928
107,080
161,477
49,028
1,258
1,676
5,412
6,172
6,312
11,806
3,242
1,253
1,668
5,342
5,999
6,071
10,410
2,185
445
460
2,376
3,224
3,222
10,181
4,552
7
19
61
95
229
594
MANUFACTURING: FOREST PRODUCTS—RETURNS W I T H N E T I N C O M E
Under 50
50-100
100-250
250-500.
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000 6
50,000 and over «
Classes grouped
Total
776
427
547
282
150
123
17
« 5
•2
6,927
9,796
25, 754
26, 491
27,176
52, 315
16,375
5,513
8,406
25, 698
27, 688
27,136
44,075
13,049
5,856
10,094
29,106
34, 057
37,316
92, 534
65,171
19,326
30,299
89,121
99,166
105, 790
233,743
113, 710
5,702
7,359
18, 678
16, 444
14, 789
19,419
13, 791
676
1,201
3,662
2,692
3,662
11,110
5,606
16, 505
2,329
19, 078
170, 457
272, 717
7,513
170, 644
444, 591
963, 872
103,695
46, 688
44, 580
49,107
131,009
120,831
104, 701
155,943
46,656
10,470
15,772
42,175
45,322
43, 597
99,256
49, 350
58, 280
170,489
57,699
881
62,507
6,463
4,973
364, 222
350, 631
710, 525
5,385
732, 348
42, 343
37,899
29,699
T
I
5,239
49,243
18,078
181,339
604
3,833
14, 717
25, 311
27, 868
70, 264
37, 545
357
863
5,253
5,319
10,851
23, 962
2,638
9
i
o
o
MANUFACTURING: FOREST PRODUCTS—RETURNS WITH NO ]NTET I N C O M E
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 a n d o v e r . .
Total
1,837
573
689
359
203
172
24
14
10,039
10,095
23, 936
23,369
22, 867
40, 408
21,892
24, 297
8,428
8,980
23, 337
25, 276
29,049
46,150
16,115
23, 687
13,939
18,379
46, 799
58, 265
62, 298
181,830
100,164
175,183
35,914
41,776
107, 329
126, 423
140, 693
337, 977
163, 280
302, 503
18, 583
13,456
31, 240
29, 764
28, 799
48, 456
32, 055
15,031
2,458
4,472
9,133
11, 579
9, 543
52, 281
18,911
39,065
2,939
2,433
8,447
11, 489
15, 567
29, 406
6,109
26, 630
31,769
30,009
64,138
72,014
70, 527
163,116
62,039
108,847
7 23,056
7 13, 387
7 15, 820
7 11, 501
4,342
19,069
30, 086
75, 372
52, 425
37, 380
80,167
73, 048
71, 735
122,164
52, 384
52, 329
1,880
539
1,316
913
1,815
1,659
621
6,321
54,887
38, 446
82,905
75, 530
75, 285
127, 376
54, 749
60,900
4,864
7 3,224
7
7, 537
7 6, 214
7
5,972
7
9, 881
7 2,801
7
7,938
3,871
176,903
181,023
656,856
1, 255, 895
217,383
147,443
103, 021
602,460
65,105
541,632
15,064
570,080
7 48,431
* 4,976
7
3,234
7 7,661
7 6, 421
7
6,118
7 10, 313
7 3, 037
7 8,031
806
57
397
438
467
3,729
268
120
7
6,281
49,790
For footnotes, see p. 83.
^1
CO
TABLE 6.—Corporations submitting balance sheets, 1935, by total assets classes for major industrial groups: selected assets and liabilities as of
Dec. 81, 1935, or close of fiscal year nearest thereto, selected receipts, compiled net profit or net loss, net income or deficit, and cash dividends paid, for returns with net income and with no net income—Continued
[Total assets classes and money figures in thousands of dollars]
NumCapital
Cash,i
Notes Bonded
Total
ber of
assets
returns notes and Inven- (less de- assets- and ac- debt and
accounts tories preciation Total lia- counts
Total assets classes with
mortbilities payable
and debalance' receivable
pletion)
sheets
Capital stock
Preferred
Surplus
and undivided
profits
Common
less
deficit
Gross
Gross
Comreceipts Total piled net Net infrom compiled profit or come or
opera- receipts * net loss 5 deficit
tions »
Cash
dividends
paid
MANUFACTUKING: PAPER PULP AND PRODUCTS-RETURNS WITH NET INCOME
Under 50
50-100
100-250
250-500
500-1,000
1.000-5,000.
5,000-10,000
10,000-50,000«
50,000and over'
Classes grouped
Total
1,684
2,604
7,583
8,747
12,310
27, 632
13,604
1,276
1,463
2,900
9,548
13.242
21, 836
51, 830
24,448
2,264
4,762
16,053
24, 303
41, 821
178,906
101,898
70,319
279
190
274
177
139
163
27
«25
«2
59, 618
309, 315
558,319
30,582
100,873
69, 796
244, 794
234,110
184, 886
679,322
1,332,474
104, 746
149,953
163,053
533,142
2,971
4,665
13.524
17, 432
24, 576
67, 909
32, 714
7,435
13,814
44,078
62,961
99, 882
353. 459
192, 526
213
506
1,773
2,913
5,879
23,776
14,019
317
888
3,840
6, 535
7, 757
43, 630
30, 289
3,998
655
17,964
6,599
2,633 28.191
17, 503 11,058 82, 574
22,568
19, 022 97,164
35, 729 34,616 132. 501
133,061 107,210 327, 992
68,888 54,198 138, 618
95,925
313, 533
325,318 1, 138, 538
568
1,175
4,715
6,662
9,934
29, 821
15,110
299
18, 379
102 28,496
255 83,672
143 98, 259
1,689 135,994
666 334, 857
458 141, 793
561
1.167
4,672
6,501
9,610
27, 516
13,998
• 128
344
1,690
2,792
5.573
15,023
6,984
764 320.196
30, 773
27, 787
23,889
4,374 1,161, 647
98, 759
91,810
56,423
MANUFACTURING: PAPER, PULP, AND PRODUCTS—RETURNS WITH NO NET INCOME
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 and over
Total
403
116
141
72
55
71
9
10
3
2,429
1,910
4,913
5,023
4,920
18, 627
7,616
24,368
83, 841
1,691
1,481
4.037
4.676
5,675
15, 625
4.516
14, 854
7,040
3,024
3,772
10,062
12,152
21, 634
83, 696
35, 613
88, 890
36, 261
8,073
8,375
22, 722
25, 219
39, 750
147,971
58,440
191,030
363,304
3.581
2,526
7,201
5.144
10, 071
22, 210
6,720
21,143
31, 082
880
153,647
59, 596
295,104
864,884
109,677
479
711
634
563
1,642
3,337
2,903
2,313
2,918
3,909
21, 282 29, 489
12, 022
6,484
38, 361 40, 659
44,400 106, 398
124,641
193, 863
5, 585
4,811
10, 602
11, 974
15, 570
63,112
15, 455
47,376
103, 842
7
3,216
7
1,144
7
278,328
2, 062
1,498
2,623
6,372
13, 038
35, 913
8,055
15,065
11. 345
27, 917
24,698
27,120
78, 397
20, 769
68, 375
27,906
220
45
76
37
38
497
202
81
1,017
61,075
301, 592
2,213
318,709
7
15,403
11, 486
28, 377
25,054
27, 556
79, 809
21, 816
71.310
37,896
7
1,094
7
576
7
2,129
7
1,124
7
2,854
7
5, 667
7
1,449
7
6, 575
7
1,093
7
568
7
2,123
7
1,108
7
2, 794
7
5, 614
7
1. 266
' 5,168
4, 294
7
7
24,026
2
156
24
56
91
263
204
955
8, 541
7
30,009
1,751
MANUFACTURING: PRINTING, PUBLISHING, AND ALLIED INDUSTRIES—RETURNS WITH NET INCOME
2, 283
824
716
344
253
190
39
«23
Classes grouped
Total
4,673
19, 439
19, 848
34,316
33, 955
44,318
98,050
60,424
4,022
5,474
10,879
11,559
12, 694
34,173
12,908
17,730
19, 687
36, 678
38, 949
58,460
96,191
77, 742
49,455
58. 529
112, 508
121,459
175, 825
375, 432
275, 490
11,131
9,437
13.491
16,431
17. 475
29, 040
15, 465
2,136
2,742
6,901
8,031
14, 604
21, 957
25,057
2,081
2.904
7,107
9,307
17, 240
37, 577
13, 652
85, 883
Under 50
50-100
100-250
250-oOO
500-1 000
1 000-5,000
5,000-10,000
10 000 50 000 8
50 000 and o v e r 6
21,120
103,121
448, 612
35. 769
19, 614
38, 786
397, 236
112,829
448, 606
1, 617, 215
148, 239
101, 093
128, 653
—
M A N U F A C T U R I N G : P R I N T I N G,
Under 50
50-L00
100-250
250-500
_
500-1,000
1,000-5,000
5,000-10,000.10,030-50,000 6_
50,000 and o v e r 6
5,143
657
453
182
82
67
7
65
6 1
25, 756
11, 778
15,677
13, 389
10, 634
23, 988
9,780
Classes grouped
Total
95,166
6,597
206,168
81. 688
84, 249
142, 345
140, 698
155,691
310,217
201. 933
115, 498
208, 927
259,303
482, 822
634,040 1, 376,124
16,866
7.974
4,281
2,201
2.191
3, 253
1,004
99,455
93,186
148, 616
144. 932
161,649
321, 806
211. 297
2,312
3,846
4,601
10,303
10, 741
15, 323
35, 248
30, 670
3,805
4,533
10. 071
10,498
14, 394
32,697
26. 829
1,428
1,722
4,939
5.568
8.415
18.639
18,464
281,361
44, 256
36,654
34, 987
40, 081 1,462,301
154, 988
139, 482
94,162
9
PUBLISHING, AND ALLIED INDUSTRIES—RETURNS WITH NO NET INCOME
34, 392
17, 591
26, 346
20,015
22, 981
39, 024
12, 008
82, 227
43, 360
71,149
62, 614
56, 871
120, 395
53,161
1,617
49, 728
213,901
44, 092
222,085
706, 677
7,136
4,979
7,735
7,083
6,072
7,155
2,315
2,352
10, 592!
23. 772
33.572
57, 862
146,894
144, 069
27, 921
23, 769
47, 976
45,148
55, 743
110, 924
50, 843
33, 481
15, 315
17, 686
16, 794
21, 691
43, 632
7,180
131,359
53,391
68,889
54, 572
48, 636
99, 329
34,812
60,515
26, 800
34, 301
28, 545
19, 456
26, 796
5,473
7 37, 724 102, 773
43, 663
7 9,159
7 4,077
59, 518
7 6, 063 47, 658
7 7, 337 46,131
7,967
94, 777
1,532
33,487
30,970
26,630
108, 704
35, 760
984
51, 346
80,958
228, 516
53, 842
463, 768
56, 569
542, 334
7,877
3,685
7,999
8,541
8, 059
18, 900
20, 440
4,787
4,528
6,401
5,812
6,845
15, 641
5,974
13,090
30, 034
168,870
105, 536
27, 431
9,055
8,440
5,683
1,367
2,779
830
7
9, 353
7 3, 214
7 4,806
7
3,809
7 3, 367
7 6,131
7 2, 043
1,005
Tfl
7 9, 387
7 3, 236
7 4,939
7 4,003
7 3, 645
7 6,436
7 2,097
214
88
271
193
344
661
710,624
7 44,367
2,741
MANUFACTURING: CHEMICALS AND ALLIED PRODUCTS—RETURNS WITH NET INCOME
Under 50
50-100.---100-250
250-500
500-1,000
1,000-5,000..5,000-10,000
10,000-50,000
50,000 and over
-.
Total
7,277
11, 608
30, 414
36, 776
59, 944
155, 589
72,976
237, 575
552, 768
4,924
4,120
7,167
10, 259
18, 620
30, 264
23, 932
37,098
37, 868
55, 912
111,079
210,438
54, 351
110,084
205,349
478, 283
365,108 1,441,157
19,874
35,161
96, 588
122, 730
181,927
655, 800
313,311
1, 285, 506
3, 974, 389
5,656
6,601
15, 500
18,130
29,196
86, 009
24, 809
239, 086
287, 293
461
1,341
3,117
3.751
5,345
20, 308
4,959
74, 468
119, 714
3,070 1,154, 928
827, 595 2, 378, 420
6, 685, 286
712, 280
233,
958
486
589
343
256
311
45
64
18
For footnotes, see p. 83.
464
12,312
781
17, 713
2,057
42, 387
5,617
45, 618
10,327
66,112
22, 677
250,314
58,179
119, 000
21, 751
496, 440
82,196
189,453 2,125, 880 1
791
46, 267
68, 537
159,478
179, 706
254,071
632, 590
298, 756
984, 493
641, 726
1,494 162, 530
1,
183, 743
1.277 258, 710
3,936 651, 770
1,060 307, 440
4,475 1,027,438
16, 5011, 819, 625
2,159
4,149
10,159
14,069
27, 225
71,097
44, 227
136,140
223, 882
2,133
4,104
10,012
13, 626
26,137
62, 754
40,099
111,784
93, 293
841
2,162
5,674
7,202
21,954
50, 467
39,010
142,454
171,187
393,039 3,175, 777 1, 806, 954 4, 265, 624
31, 909 4, 528,327
533,107
363,941
440,951
7 1, 231
5,008
24,149
37, 429
47, 717
197, 415
119,867
309, 605
47, 47'
69, 595
n
o
XJ1
970
7 31, 717
I
o
o
K
TABLE 6.—Corporations submitting balance sheets, 1985, by total assets classes for major industrial groups: selected assets and liabilities as of
Dec. SI, 1935, or close of fiscal year nearest thereto, selected receipts, compiled net profit or net loss, net income or deficit, and cash dividends paid, for returns with net income and withjiojiet income—Continued
[Total assets classes and moneyfiguresin thousands of dollars]
NumCapital
Cash,*
ber of
Total
Notes Bonded
returns notes and Inven- (less de- assets- and ac- debt and
accounts tories preciation Total lia- counts
Total assets classes with
mortand debilities payable
balance receivable
pletion)
sheets
Surplus
and undivided
profits
less
Common
deficit
Capital stock
Preferred
Gross
sales 2
Gross
Comreceipts Total piled net Net infrom compiled profit or come or
4
opera- receipts netloss 6 deficit
tions 3
Cash
dividends
paid
MANUFACTURING: CHEMICALS AND ALLIED PRODUCTS—RETURNS WITH NO NET INCOME
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000.. .
50,000 and over
Total... _
2,561
459
416
186
118
91
20
21
21
6,355
10,168
36, 494 17,024
8,796
8,681
4,164
10, 562
32, 882
7,196
16, 592
8,250
23,062
65,126
13, 483
66,381 20, 454
13, 624
8,823
26, 915
80, 807 15,182
37, 585
16, 777 10, 675
191, 551 41,313
86, 498
39, 376 25, 547
14, 775
147, 665 30, 891
81, 677
16,978
51,061
553, 483 94, 969
258,481
87,466
766, 627 325, 262 1, 531, 098 3, 260,465 496, 761
3,893
970,324
454. 911 2,066, 047 4, 434, 853 741, 866
2,236
4,284
33,405
2,505
3,024
22, 815
3,333
7,764
40, 091
70, 429
2,927 19,1
35, 498
7,541
13, 303
84,181
17, 058 21, 918
63, 302
23, 726
9,606
144, 488 58, 013 164, 697
536, 657 114, 805 1,302, 277
1,062 46, 615
7 27,173 44,927
716
33,352
i 10, 269 32,138
2,154 63,129
7 8, 296 60, 231
942
53, 981
7 51, 262 52,150
63, 049
66, 281
2,301
583
16, 255 141, 998
2,327 147, 396
81, 314
431
5,817 91, 643
45, 828 315,146
11,816 346, 819
,
480,369 1 824, 594 69, 998 1,996,129
740, 472 252, 705 1, 816, 695 446,465 2, 615, 548
337
7 5, 632 7 5, 643
60
7 2,068
i 2,013
809
7 3, 604 7 3, 697
545
7 3, 983 7 4, 056
1,064
7 4, 437 7 4, 556
1, 650
7 6, 706
7 5,199
2,094
7 4,318
71, 212
7,397
7 126 7 15, 551
10, 726 7 63, 648 114,384
379
218
240
149
92
102
18
15
3
2,928
4, 882
9,645
12, 325
14, 003
41, 505
22, 253
64, 794
54, 675
1,912
2,881
6,995
9,761
10,848
29, 223
15, 593
45.190
27, 502
3,290
6,144
17, 673
24, 059
30, 323
107, 300
48, 817
151, 230
104,184
O
O
Total....
1,216
227,010
149,904
493,021
2,384
2,542
5,184
6,545
5,754
16, 695
4,713
46, 082
9,162
402
759
1,993
2,330
5,129
13, 573
3,518
8,382
409
451
2,441
5,101
8,418
25, 612
15, 786
27,155
7,822
5,219
7 154 14,405
8,676
2,699 19, 440
19,032
7,833 40,926
21.187 15, 719 58,812
26, 789 17, 355 54,132
93,386 58,113 134, 017
•52, 418 35, 413 69, 575
131, 557 132,088 176,961
108, 581 92, 671 166, 295
663
411
406
147
297
796
550
1,466
2,233
15, 257
20,189
41.933
59, 882
55, 384
138, 551
74, 573
186,121
173,818
520
1,344
2,971
4,133
5,352
14, 678
13, 843
32, 481
24, 991
517
1,313
2,901
4,006
5,124
14, 287
10, 738
27, 983
21, 272
141
445
1,428
1,576
2,487
7,334
12, 583
20,124
13, 858
1, 111, 173 99,061
36,086
93,195
466, 844 361, 736 734, 562
6,970
765, 708 100, 313
88,141
59,977
8,891
16,019
38, 337
53,510
66, 308
213, 672
117, 729
371,914
224, 793
O
97,132 2,845,345 7 15,4791 7 110, 243 128,339
M A N U F A C T U R I N G : S T O N E , CLAY, A N D GLASS P R O D U C T S — R E T U R N S W I T H N E T I N C O M E
Under 50
50-100
100-250
250-500
500-1,000
1.000-5,000
5,000-10,000-_..
10,000-50,000-..
50,000 and over
1
|
M A N U F A C T U R I N G : STONE, CLAY, AND GLASS PRODUCTS—RETURNS W I T H NO N E T I N C O M E
2
©
£
I
J.
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000---50,000 and over.
Total
1,170
385
372
189
90
93
16
12
2,327
18, 426
10, 674
19, 236
4,381
4,099
8,112
8,418
7,916
21,147
14, 250
17,011
10, 567
15, 543
31, 884
40,150
36, 490
126, 720
78, 621
145, 833
22,900
28,077
57, 804
65, 290
62, 221
195,736
116,056
219, 532
8,235
7,702
13, 500
10, 838
10, 896
13, 031
5, 259
7,135
82,195
85, 335
485, 807
767, 615
76, 597
5,331
5,080
8,595
7, 562
7,292
1,897
2,783
6,137
6,679
9,496
23, 965
16, 310
41, 009
2,138
5,331
14, 225
7,500
34, 507
18, 461
59, 638
108, 274 143, 605
20, 513 7 11, 927 19, 709
19, 491 7 6, 845 14,593
33,559 7 6, 788 22,085
7
36,022 7 9,185 23, 245
1, 510 23, 342
31, 837
57, 353
88, 902 15.000
59, 243 11, 271 31,492
71, 364 29,172 43,449
1,048
729
916
449
117
350
7
77
235, 268
3,694
245, 755
360, 932
19,189
MANUFACTURING: METAL AND ITS PRODUCTS—RETURNS W I T H N E T
Under 50
50-100
100-250
250-500..
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 and over
Total
22, 915
2,587
1,320
30, 780
1,739
81, 334
971
92, 582
684
124, 833
753
393,068
114
177, 266
102 458, 808
32 1, 364, 853
12, 954
61, 072
19, 320
32, 767
21,142
95, 468
96, 659
62, 298
278,961
344, 693
79, 648 118, 868
482, 209
115, 249 170, 043
372, 799 554,351 1, 622,069
791, 851
174, 528 263, 787
380,730 764, 639 2,154, 265
836,428 1,836,154 5, 904,226
15, 444
17, 976
42, 250
42, 020
61,167
168, 207
89, 068
219,036
460,045
8,302 2, 746,439 2,055, 775 3, 856, 588 11, 734,815 1,115, 213
3,164
4,504
11, 808
12, 368
18, 934
35, 612
42,190
134, 526
307,915
7 2, 529
7 1,914
7 3. 520
7
3.301
7 3,000
7 7,096
7
2,904
7
5,970
7
7
7
7
7
29, 382
30
41
130
209
212
737
426
1,205
7 30,233
INCOME
7
35, 572
2,416
148 130,195
4,590
48, 536 13,130 161, 823
130, 370 58,174 390,147
20, 327
30,123
144, 986 96,411 418,783
42, 794
185, 212 147, 324 593, 505
159, 512
637,920 525, 385 1, 570, 811
268,139 246,431 651,328
87, 913
205, 489
800,101 628,364|1,556,342
834, 446 1,848, 726 872,122 4,701,716
571,020 1, 387,
7 2, 524
7 1, 895
3, 431
3, 231
2, 955
6,923
7 2, 824
7
5, 597
21,039
15, 628
23, 623
24, 366
23, 868
59,315
31, 926
45,990
4,099, 563 3, 587,192! 10,174,650
4,976
7,972
25,425
31, 442
48, 242
150,812
62,444
167, 402
557, 915
4,923
7,904
25,061
30, 540
47,151
141, 926
56, 916
145,433
412, 833
754
2,459
8,588
11, 605
17, 708
81, 266
42, 789
100, 562
299,419
77,911 10,649,556 1,056, 630
872, 686
5,793
1,244
1,383
639
442
377
51
54
16
Total
For footnotes, see p. 83.
36,479
21, 256
105,183 40, 623
35,825
88, 657 26, 357
18, 200 17,356
40, 540 44, 339
92,970
217,986 52, 658
37,005
44,028
96,385
219, 388 43, 219
49,317
314, 602 65, 690
60, 276 141,034
119, 856 142, 041 330, 056
783,043 112, 624
63,145
358, 784 39, 590
58, 425 148, 567
187,161 162, 621 498,413 1,145,949 99,112
241, 467 361,011 1,442, 578 2,434, 213 456, 338
8,802
8,382
8,038
7, 796
19, 288 24,934
17, 635 28, 534
45, 247
27,941
77, 911 114,*
71, 208 61,143
170, 505 148,943
445,897 196,108
783, 897 911, 354 2,822, 307 5, 667,806 936, 211
846, 564 636, 647 2,181, 578 662,468 2, 752, 367
27, 206
89, 636
60, 860
134, 973
115, 065
146,112
349,184
133, 674
473, 761
678, 313
7 60, 648
22,212
7737, 413
3,024
2,390
69, 666
30,422
153, 600
529, 685
7
128, 241
70, 290
150, 422
140, 822
182, 298
387, 356
159, 497
592, 764
940, 675
6,181 135, 557 7711,239
5, 655
1,501
72, 766
2,473 155,468 7 13, 539
2,1
145,130 7 10, 893
2,877 188, 305 713, 484
4,601 401, 776 7 26, 281
572 165, 650 7 17, 532
2,644 612, 379 7 20, 514
9,825 980, 553 714, 696
M
to
H
i—i
O
to
o
o
M A N U F A C T U R I N G : M E T A L AND ITS P R O D U C T S — R E T U R N S W I T H NO N E T I N C O M E
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10.000
10,000-50,000
50,000 and over
to
H
565,148
5,120 136, 287
1,165 164,155
3,591 397,402
2,138 425, 785
2,531 602, 933
7, 736 1, 606, 689
3,513 669,131
32,731 1, 636, 519
19,387 5,010, 654
7 11, 270
259
7 5, 691
85
13, 770
364
696
11, 220
713,972
637
7
28, 804
3,326
719, 246
1,700
9,685
7 29,421
7 31,039 149, 677
7
7
32, 740 2, 857, 5827133,833 7164,432
166,428
TABLE 6.—Corporations submitting balance sheets, 1935, by total assets classes for major industrial groups: selected assets and liabilities as of
Dec. 31, 1935, or close of fiscal year nearest thereto, selected receipts, compiled net profit or net loss, net income or deficit, and cash dividends paid, for returns with net income and with no net income—Continued
00
[Total assets classes and money figures in thousands of dollars]
Total assets classes
NumCash,*
ber of
notes and
returns accounts
with
balance receivable
sheets
Capital
assets
Total
Inven(less deassetstories preciation Total liaand debilities
pletion)
Surplus
and undivided
profits
Common
less
deficit
CaDital stock
Notes
Bonded
and ac- debt and
counts
mortpayable
gages
Preferred
Gross
sales 2
Gross
Comreceipts
Total piled net Net infrom
compiled profit or come or
4
opera- receipts
net loss * deficit
tions 3
Cash
dividends
paid
MANUFACTURING: MANUFACTURING NOT ELSEWHERE CLASSIFIED—RETURNS WITH N E T INCOME
Under 50
50 -100
100-250
250-500
500-1,000.
1,000-5,000
5,000-10,000
6
10,000-50,000
50,000 and over 8
Classes grouped
Total
881
312
392
209
128
125
16
6 12
6 1
8,056
8,461
21,187
24, 382
27, 244
78, 515
29, 620
4,574
5,804
16, 362
19, 352
20. 997
63, 318
23, 765
4,155
5,290
16, 975
19, 963
26, 645
74, 996
27, 244
18, 892
22,516
62, 656
73, 382
90, 005
287, 271
108,939
5,180
4,596
11, 224
10, 881
8,720
28, 200
6,009
515
803
2,157
4,559
2,259
10, 601
3,652
600
1,440
4,213
5,538
8,950
38, 720
5,345
10,000
11,150
24,100
27, 303
31,911
88,152
49,144
76, 943
2,076
64,070
106, 883
382,816
56, 915
24,164
33, 388
79, 681
274, 409
218, 243
282,152
1,046, 477
129, 723
48, 711
98,192
321,440
816
2,922
16, 986
20, 319
32, 296
93, 857
37, 050
48, 049
46,119
106.492
105, 248
118,884
281,049
90, 268
119,172
225, 648
323, 419 1,021, 737
1,142
276
470
708
486
2,938
365
446
335
458
1,904
2,989
5,708
15,003
7,905
39,139
35, 246
33, 956
111, 663
103, 974
68,258
235, 928
6,833 1, 053, 980
1,412
1,955
5,790
7,331
10, 867
28,456
12,917
49, 550
46, 732
107. 983
107, 287
121,011
290, 918
94, 570
1,419
1,939
5,857
7,464
11, 004
31,090
13, 721
MANUFACTURING: MANUFACTURING NOT E L S E W H E R E CLASSIFIED—RETURNS WITH NO N E T INCOME
Under 50
50-100. .
100-250
250-500
500-1,0001,000-5 000
5,000-10,000
10,000-50,000
50,000 and over -
2,274
421
308
149
95
64
8
5
10,171
7,135
11, 854
11,109
12,197
24, 624
10,409
17, 210
7,947
6,289
10, 938
11, 733
11, 307
16, 748
10, 861
19,855
9,828
9,572
14, 671
17, 815
22,106
32, 215
19.927
30,446
34, 271
29,405
47, 953
53,033
65, 295
119, 733
60, 741
102, 753
16, 343
8,176
12, 588
10. 927
12, 383
19,346
3,713
7,737
2,234
2,054
3,417
5,317
5,054
5,646
6,893
4,552
2,780
5,510
7,048
10,868
16, 865
5,450
12, 432
28, 271
18, 562
26, 874
28, 723
29, 578
51, 635
31,023
14,853
Total
3,324
104, 707
95, 657
156, 579
513,183
91, 215
30, 685
65, 507
229, 529
7 21,108
7 4, 958
7 6, 013
7
4, 447
903
12, 672
7,938
42,823
27, 814
52. 586
25. 097
37, 042
39, 719
33, 290
62,165
16, 373
60, 223
1,565
586
659
237
699
309
158
767
54. 675
28, 056
38. 467
40, 529
37,937
64, 680
17, 394
65, 246
329,498
4,979
344,988
7
7 4, 587
2, 224
i 3,032
7
3,167
7
3, 670
7
5, 636
7
1 , 213
7
830
4, 601
2, 242
3 240
7
3, 240
7
3,759
7
6, 274
7
1,487
7
3, 398
7
7
24, 360
22
65
120
525
830
450
2
444
28,241
2,457
7
7
7
>
H
I—I
h1
o
o
o
CONSTRUCTION-RETURNS WITH NET INCOME
2,398
635
515
212
107
83
«16
62
Total.._
_
24,431
21,359
35, 774
33, 088
34, 071
51,815
62 282
Under 5 0 - - 50-100
100-250
250-500
500-1,000
1,000-5,000.
5,000-10,000K
10,000-50,000 6
50.000 and over
Classes grouped
8,547
49,090
173,592
20,406
27,313
11. 041
56, 913
40, 053
3,049
109, 627
115,007
7,343
6,729
6,846
3,968
262,819
44,066
173,516
651,905
126, 273
44,093
31,089
221, 227
155, 520
192,161
564,779
774, 748
51,897
48, 217
20,800
13, 507
6, 308
7, 940
7
4, 750
7
5, 069
7
6,183
7
2, 035
459
303
424
324
460
1,521
5,778
4,852
6,213
5,065
4,093
9,517
10, 329
11,767
24, 242
19, 058
18, 203
40,827
46,
45,
82,
72,
74,
157,
020
248
430
509
550
556
15, 250
11, 182
20, 054
17, 739
16, 387
25, 255
1,832
1,985
4,256
2,853
3,297
2,556
1,016
1,143
2,493
2,016
4,250
9,130
1,187
6,475
18, 147
19, 645
20, 283
49, 731
22, 309
19, 610
28.883
21, 913
20, 852
50, 747
69,031
36. 006
34, 244
17,110
7,765
24,956
56,146
47, 254
82, 278
72, 869
69, 297
127, 309
3,051
3,392
5,829
5,260
5,349
18, 607
3,083
3,444
6,070
5,522
5,689
20, 746
126.689
84, 539
119,258
91, 704
79, 645
157,906
402
641
2,375
1,594
1.604
7,338
CONSTRUCTION—RETURNS WITH NO NET INCOME
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000 -_
5,000-10,000
10,000-50,000 6
50,000 and over 6
Classes grouped
Total
7,539
1,159
874
308
158
95
9
66
61
12, 520
7,304
9,462
5,
7,
11,957
10,040
32, 622
28, 678
46,049
32, 339
29,089
40,894
19, 448
107, 585
82 053
136, 744
108, 285
110, 407
184, 958
68, 277
50.
30. 217
37, 639
28, 027
36.034
40, 226
7,
10.810
8,360
13,864
7,916
8,194
14, 308
13, 698
4,068
3,152
5.710
7,757
8,210
18, 753
7,129
76,110
42, 342
56, 633
39,163
30. 951
56, 677
17, 477
22, 580
10,149
45, 010
29, 271
43, 732
34, 898
34,042
52,849
23,962
15, 640
82, 380
163,064
15. 797
19, 027
6,025
35. 483
286, 342
80, 458
311,499
961, 373
245,831
96,177
60, 803
354,836
7
7
47, 645 115,426
11, 622 43, 035
43, 012
7.948
33,193
11, 081
13,789
9,402
19.823
14, 527
7
6,981
1, 707
73.'
41.559
57,211
32,186
42,100
46,711
13, 543
192. 210
86,462
104, 248
68, 328
58, 372
71, 993
21, 504
20, 038
24, 586
7
47, 515
2,023
21, 263
296, 522
331,885
650, 633
13.462
6, 204
7, 582
7
4, 235
7
4, 445
7
3,885
7
1,429
7
7
7
7
7
7
7
7
5,190
46,433
5,931
5,070
51, 723
8,658
8,494
8,045
18,139
18, 255
23,821
80,458
45. 678
223,405
478,261
3,605
4,099
11,336
12,911
26, 599
86,523
54,568
309,689
689,814
7
T R A N S P O R T A T I O N AND OTHER P U B L I C U T I L I T I E S — R E T U R N S W I T H N E T I N C O M E
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10 000-50 000
50,000 and over
Total
17, 692
4,393
1,340
51,415
1,858
5,274
15, 889
2,815
39, 845
12, 803
20,123
7,023
31, 408
93, 900
38, 599
37, 653
13, 043
33, 961
105, 757
36, 369
56, 979
37, 504
45,194
181,362
21, 724
391,957
79, 716
164, 464
647, 802 236, 094
374. 019 113,416
85,421
511,584 189,182
305,114 2. 057, 720 526,034 2,103, 505
.,
384,690 7, 796,059 1 460.339 9,148,163 3, 328,129
1,512
1,734
3,081
3,004
4,184
23, 052
12, 695
63, 400
221, 726
9,439 1,854,467
334, 388,24,108,968 32, 970, 217 1,083,834 10, 744,178 2, 241, 230 12,883, 333 4, 525, 394
For footnotes, see p . !
84,494
47, 503
84,163
49, 030
133, 787
207, 970
166,877
244. 254
268, 452
365, 410
1, 235. 513 1, 613, 050
1,105, 648 1, 354. 449
4.799. 708 5, 961, 545
16, 302,450 23,054,883
4,460
25,000
1, "
20, 789
1.307
42, 561
686
41, 529
515
47, 421
715
164, 892
186
94. 320
259
381. 604
122 1, 036, 351
157, 933 161,934
102, 759 104,866
184, 068 188,191
153, 210 156, 625
151, 883 155,894
492, 891 506,875
266. 4S9 275, 673
1,154, 697 192, 648
3,350, 206 3, 634, 309
8,570
8.164
18,520
18, 720
24, 245
84, 256
48, 258
234, 305
667,226
6,014,135 6, 377,014 1,112, 266
904,556 1,199,145
ii
$
o
o
TABLE 6.—Corporations submitting balance sheets, 1935, by total assets classes for major industrial groups: selected assets and liabilities as of
Dec. 81, 1935, or close of fiscal year nearest thereto, selected receipts, compiled net profit or net loss, net income or deficit, and cash dividends paid, for returns with net income and with no net income—Continued
[Total assets classes and money figures in thousands of dollars]
NumCapital
Cash,i
ber of notes and
Notes Bonded
assets
Total
(less de- assetsTotal assets classes returns accounts Inven- preciation Total lia- and ac- debt and
tories
counts
with
mortbalance receivand degages
bilities payable
able
sheets
pletion)
Capital stock
Preferred
Surplus
and undivided
profits
Common
less
deficit
Gross
sales 2
Gross
Com
receipts Total piled net Net infrom compiled profit or come or
4
opera- receipt? net loss 6 deficit
tions 3
Cash
dividends
paid
TRANSPORTATION AND OTHER PUBLIC UTILITIES—RETURNS WITH NO NET INCOME
Under 50
50-100
_...
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000....
10,000-50,000-..
50,000 and over
Total
7, 695
1, 054
1, 004
523
439
581
161
154
99
2,679
63,959
26,918
13, 703
1,481
46, 327
24,988
2,102
103, 682
20, 962
2,813
128,863
29, 349
5,437 232, 201
92,025
18, 302 1, 061, 237
60,926
11, 287 955, 775
175,933 24, 781 2, 768, 525
802,992 214,085 20, 111,572
4,807 104,048 7 94, 674
17,613
129,400 56,632
12,418
2,905
46, 951 7 28, 695
73, 634 28, 307
7
37,020
9,757
30, 987
158,440 40,612
52, 275 13,336
90, 687 7 61,092
183, 202 54, 213
7
76,807
111, 244 22,161
135,952
312, 740 70,114
70, 659 429, 342 7115, 742
1, 366,045 252, 506 551,118
1,147, 657 151, 267 507, 618 82,846 343,882 7 50, 796
3, 453, 672 288, 718 1, 702,963 312, 583 923, 281 46, 291
26, 683,090 L, 163,08412,660,450 110, 239 7, 201,308 2, 229,120
1
11, 710 1,247, 796 282,966 25,472,142 33, 507,880 2,105,453 15,646,685 1,629, 293 9,365,332 1, 718,002
162, 773 167,432 7 714,860
62,107 64,100 7 6,197
68, 702 71,407 7 11,027
59,910 62, 134 7 11,199
22,801
76, 796 82,124
221,353 230,168 7 38,124
181, 433 186,786 7 29,127
575,173 590,059 7 81, 711
i
,
3,378,853 3, 521,954 7 258, 746
4, 787,100 4,976,165
7
473,791
7
30,110
86, 422
326, 111
484
532
718
1,037
1,074
5,170
2,452
12,515
58,236
549, 746
82,218
14,915
6,282
11,161
11,392
23,515
7
7
7
7
7
7
7
7
7
39,837
o
Q
O
TRADE—RETURNS WITH N E T INCOME
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000____
10,000-50,000.. _
50,000 and over
Total
30, 677
10,121
8,448
3,086
1,536
1,182
136
108
19
272, 641
294,157
536, 833
432, 541
419, 208
875, 785
359,454
612, 802
652, 230
240, 568
235, 842
404, 310
318, 582
297, 698
600, 774
239, 071
395, 801
562,920
120,153
127,163
237, 521
189, 992
192,129
412, 553
162, 463
501, 510
344, 422
681,
717,
1, 309,
1,070,
1,055,
2,313,
946,
1,940,
2,125,
212,554
199.010
335,150
257, 294
280, 789
615,460
286, 804
559,006
516, 296
16, 714 16, 513
22, 788 22, 725
47, 560 63, 409
33, 519 69, 646
37, 265 80, 012
84,410 246,964
29, 213 78, 687
174, 050 131, 018
100,173 73,855
55, 313 4,455, 651 3,295, 566 2, 287,907 12,160, 648 3, 262, 362 545,692
346, 594
318, 694
540,123
411, 838
368,005
711, 587
261, 691
538, 564
653,104
43, 735 2, 503,041
108,
! 198, 030
,
246,
1, 462, 666
239,141 2, 601, 956
233, 030 2, 244, 849
524,: 395 5,
, 5,055,899
232, 906 1, 813,129
416, 580 3,' 455^ 293
679,100 2, 959, 701
90,063 2, 615, 910
41, 944 2, 263, 403
61,831 3, 570, 002
36,171 2, 676, 576
34, 685 2, 316, 788
89,130 5, 225, 714
17, 956 1,858, 550
72, 407 3, 587, 596
51,088 3,116, 231
41,456
43, 330
80,416
70, 791
70, 044
158, 223
61, 619
121, 549
171,122
4,150, 200 2, 723, 469 26,294,563 495, 275 27,230,771 818, 551
41,158 12,117
42,863
18, 367
78, 406 29,887
68, 905 31,796
66, 978 35, 767
145, 880 104,163
56,068 35,066
92,493
154,860 101,171
757,956
460,827
TRADE—RETURNS WITH NO NET INCOME
U n d e r 50
50-100
100-250
250-500
500-1,000—
_
1,000-5,000
5,000-10.000
_.
10,000-50,000 6
50,000 a n d over«.__
Classes g r o u p e d . . .
Total..
308,875
162, 731
201,878
127, 704
113,011
168,871
74,801
209,178
140,164
214,028
158, 269
130, 270
232, 530
103,669
928, 683
572,435
812,480
569, 991
516, 984
860, 594
359, 559
420,154
205, 235
249, 949
170, 360
152, 711
313,888
93, 661
52,400
41. 997
69, 559
54,776
49,086
121,462
42, 518
154, 622 114, 552
58,478
8,196
5,375
1,649
761
461
52
«30
186,473
704, 283 161, 762
51,437
320,117
198,876
274, 913
182, 398
163,048
262, 980
89, 378
34,890
27, 498
55, 784
50, 622
54,047
98, 511
56, 079
614,927 282, 705 2, 660,084
307, 775 7 54, "'" 1,217,947
" ' 316
392,833 7 15, 222 . 414, 274
1,
;
248, 630
1,316 829, 578
222,027 71, 983 748, 659
269, 309 7 6, 266 , 055,101
84, 291 56, 251 383,405
118,079 2, 806, 927 7 93,086
;
,
7
38,002 '., 270,419 31,556
1 ""
33,171 1,466, 961 7 39, 111
13, 803 856, 501 7 22, 595
9,195 773,286 7 21, 099
47, 397 ,127, 736 7 28, 235
7,079 400,084 710,495
7 93, 347
7 31,947
7 39, 740
7 23, 394
7 22, 376
7 30, 398
711,993
1,764
996
3,599
1,859
3,577
15,666
4,193
62
75,004 1, 646, 3311, 272,422 1, 374, 582 5, 325, 009 1, 767, 719 483,236
109, 620
165, 359 139,493
710, 735
719,126
12, 391
272, 335 9,438, 626 260, 538 7 272,323
7
44,046
5,606
487, 050 2, 305,151 7163, 432 9, 019, 782
736, 712 714, 361
SERVICE: PROFESSIONAL, AMUSEMENTS, HOTELS, ETC.—RETURNS W I T H N E T I N C O M E
Under 50..
50-100
100-250.
250-500
500-1,000 .
1,000-5,000
5,000-10,000
10,000-50,000 «...
50,000 and over 6
Classes grouped
Total..
3,224
3,684
12, 426
16, 259
21, 324
41, 068
3,910
42, 768
30,158
50, 959
45, 705
41, 226
109, 675
23,153
5,064
3,744
5,837
5,269
3,803
14, 629
2,034
53,159
61,314
132, 508
126, 338
176, 420
405,843
129,406
35,136
42,181
185, 795
443, 879
34, 431
130, 990
24,101
106, 478
114,473
11, 682
378, 779
82, 561 1, 270, 782
2, 272,424
282, 831
505,061
125,996
711, 871
450, 486
123,096
117, 228
237, 336
223, 595
277,187
665, 717
184, 386
32, 725
22, 705
36, 798
28, 620
35, 502
70, 900
21,150
6,708
12, 529
33,094
35, 703
55, 014
167, 313
63, 709
63,
51,
92,
74,
85,
197,
40,
633
391
221
416
642
761
330
2,713
16, 280
41, 361
50,168
57, 373
125, 334
42, 784
7,097
1,659
1,521
640
399
322
27
«15
6
2
15, 782
10, 839
18, 335
16, 386
15, 685
37, 433
6,970
6,105
4,453
7,809
7,683
8,317
21, 714
3,663
334, 666
171, 866
232, 822
178, 075
167, 562
335,149
84, 072
342,105
177, 641
242,977
185, 786
175, 098
349,046
86,164
191,032
199, 276
I§, 393
10, 310
134,823
124,475
64,093
7 38, 423
713, 289
7
19, 309
7 15, 507
7 23,639
7 62,190
7 20, 788
7 29,442
7 8, 814
7 38,619
713,433
719,697
7
15,950
7 24,080
7 64, 272
7 21. 592
7 30, 755
710, 555
76?
394
798
437
1,137
1,920
407
709
1, 603, 3311, 769,868 7 231,402 7 238,952
I
4,348
1, 695, 244 1, 758,092
6,572
15,599
10, 584
17, 714
15, 556
14, 234
34,289
6,187
I—I
o
8
SERVICE: PROFESSIONAL, AMUSEMENTS, HOTELS, ETC.—RETURNS WITH NO NET INCOME
U n d e r 50
50-100
100-250
250-500. _
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 a n d o v e r . .
Total.
7 163, 670
7 33, 019
7 51, 291
7 48,105
7 47, 664
7
77,153
7 18,112
7 9, 526
719, 510
53,138
26,886
42,859
34, 315
45, 294
119,985
43,418
55, 375
10, 949
152, 478
10,186
4,730
155,083
7,320
358,168
8,008
376, 768
6,124
545,919
10, 751 1, 706, 577
3,569
635, 091
23,860
665, 254
84
166, 525
46, 805
264, 830 137, 338
63, 460
219,417 56, 268
179, 813
466, 569 84,724
67, 523 219, 707
476,869
669, 774 73,139
333, 945
2,116,637 212, 058 . 096, 442
,
786, 317 72,141
465, 597
952, 858 151, 704 554, 812
201, 211 93, 575
94, 366
11, 614
8,490
29, 583
34, 967
48, 502
160, 092
40, 950
77,118
28,411
432,218
74,630 4, 761,863
6,154,481
411,317 1,484,367 ' 468, 051
For footnotes, see p. 83.
187, 441
94, 423
164,140
133, 715
168, 268
485, 390
137, 375
91,983
21, 63f
18, 852
3,090
2,968
1,338
950
1,035
118
57
3
948,469 3,054,948
507, 869
147,840
156, 780
101, 998
109, 653
285, 011
99, 539
165, 823
28,819
526,439
160, 589
183,144
128, 640
137, 716
315, 227
104, 889
181,133
32, 091
00
TABLE 6.—Corporations submitting balance sheets, 1935, by total assets classes for major industrial groups: selected assets and liabilities as of
Dec. 31, 1935, or close of fiscal year nearest thereto, selected receipts, compiled net profit or net loss, net income or deficit, and cash dividends paid, for returns with net income and with no net income—Continued
00
fcO
[Total assets classes and money figures in thousands of dollars]
NumCapital
Cash,*
ber of
Notes Bonded
assets
Total
returns notes and Inven- (less de- assets- and ac- debt and
Total assets classes with accounts tories preciation Total lia- counts
mortand debalance receivbilities payable
pletion)
sheets , able
Surplus
and undivided
profits
less
Common
deficit
Capital stock
Preferred
Gross
Gross
Com- I
receipts Total piled net I Net infrom compiled profit or j come or
4
opera- receipts net loss *| deficit
tions 3
Cash
dividends
paid
FINANCE: BANKING, INSURANCE, REAL ESTATE, HOLDING COMPANIES, STOCK AND BOND BROKERS, ETC.—RETURNS WITH NET INCOME
Under 50
50-100
100-250
250-500
500-1,000
1,000-5,000
5,000-10,000
10,000-50,000
50,000 and over
.
.
Total
9,665
76, 222
4,183
101,049
5,952
363,094
3,762
542,495
2,544
710, 708
2,701 1, 944, 690
386 847, 575
356 2,199,164
93 4, 441,864
29, 642 11, 226,862
202,139 48,852
21,074
3,929
8,251
103,934
6,641
301,117
26,119
126,085
65,135
41,801
971, 291 143, 827 134, 565 43, 562 305, 518 110, 518
1,334,317 132, 370 136,640 52,884 332, 203 167, 558
1, 792, 082 157,102
150,462 66, 521 420,398 235,809
5, 551, 562 428, 485 356,914 213,141 1, 272,160 960,936
83,888
674,473 506, 524
2,697, 049 162, 569 171,816
7,463, 238 510, 277 478, 772 456, 314 1,198, 551 1, 790,407
!
,
. 168, 7573, 988,298 2, 716,831
,
14,994,381 1,150, 603 1, 290,950 1,
101,387 136, 760 16, 642
45,918
81, 759 14, 746
76, 650 175, 211 41,084
51,752 155, 874 44,189
50, 602 171, 239 53,663
183, 772 514,800 176, 666
128, 339 279, 420 92, 478
555,082 936, 397 305, 382
255,907 1,
656,112
21, 652 3,221, 081 35, 307,176 2, 799, 221 2,782,993 2,119,438 8, 421, 620 6, 499,154
1,449,410 3, 520,063 1,400,962!
2,288
2,910
3,982
3,352
1, 466
2, 300
2,201
1, 754 {
1,400
81, 556
132, 789
368, 679
385, 619
402, 866
923, 507
321,561
483,128
121, 357
8,521
15,698
6,696
13,654
35, 939 23,924
33, 262 22,097
34, 938 31,903
94, 549 111, 239
49, 711 49, 523
144,991 175,179
143,871 376, 067
566,612
805,150
FINANCE: BANKING, INSURANCE, REAL ESTATE, HOLDING COMPANIES, STOCK AND BOND BROKERS, ETC.—RETURNS WITH NO NET INCOME
Under 50
50-100
100-250.
250-500
500-1.0QP-1,000-5,000
5,000-10,000
10,000-50,000
50,000 and over
Total....!....
574, 951 191, 490 168,218 41,514 414, 441 7 304,995
340, 759
837, 453 172, 051 288, 503 36, 518 419, 900 7 103, 405
550, 226
1, 270, 364 2,199, 765 352, 268 708,026 110, 742 744,139 7 172, 252
1, 264,389 2,807, 421 325, 756 705, 579 128, 836 779, 692 7 35, 321
1, 215,401 3, 636,144 372, 560 681, 067 162, 544 868, 231 75,172
.
2, 375, 883 12,105,193 1 025,110 1,643,125 653, 381 2.493. 957 723,033
851,410 6,185, 246 390.098 802,812 408, 552 1,1^8, 215 619. 682
1, 005. 575 15,271,133 823,483 1,631,548 1. 064,248 2, 544, 8021, 709, 331
,
1, 224, 554 65,821,926 695,062 3,624,795 2. 988, 7177, 500, 6515,132,105
28,364
120,479
11,649
132, 470
13, 722 453,810
7,948 697, 314
5,161 1,009,891
5,768 3,563,399
888 1, 751,645
753 4, 253,604
251 16, 662, 564
5,5S0
7,117
14,233
12,264
14,978
25,303
1,243
1,747
5,278
74,504 28,645,176
87, 743 10,098,559 109,440,231 4,347,878 10, 253,674 5, 595, 054
16,964, 028 7, 643,350
7
159, 503 216,634 7 53, 854 7 57,115
6,550
43,843 99,300 7 32,030 7 34,124
3,559
56,875 186,475 7 51,460 7 62,241
8,614
36, 695 181,321
50,508 7 67,296
8,881
42,453 204, 646 744,464 7 7 76,075 15,168
7
151, 744 652,131 118,891 7 290,817 86,100
7
107,080 347, 947 31,862 124,383 49, 521
186,918 731, 289 41,407 7 219,276 119,250
146, 234 2, 521,999 757, 732 7 302,300 431,806
,
931,343 5,141, 741 416,070 1,233,625
729,449
CO
H
M
a
NATURE OF BUSINESS NOT GIVEN—RETURNS WITH NET INCOME
U n d e r 50
50-100 6
100-250
--.
250-500
500-1,000
1,000-5,000 6
5,000-10,000 6
10,000-50,000
32
100
12
792
716
175
41
193
3
551
1,671
121
1,415
4,857
11,452
10, 346
5,978
1,449
5,520
14,631
10, 683
24
113
6
87
4,353
559
7 3,868
7 258
182
1,080
72
275
493
145
51
35
50
35
14
19
112
438
124
48
48
233
61
61
97
CO
50,000 and over
Classes grouped
Total
427
477
4,881
76
11
63
5
137
7 662
19
228
83
76
67
7,435
7 4, 717
582
979
217
209
334
729
332
39
111
834
366
102
163
7 3, 534
7 305
7
403
7 127
541
306
417
132
158
197
115
9
556
7 566
NATURE OF BUSINESS NOT GIVEN—RETURNS WITH NO NET INCOME
Under 50
50-100
100-250
250-500
..
500-1,000 6
1,000-5,000
5,000-10,000 6
10,000-50,000
50,000 a n d over
645
71
64
22
6 15
17
6 1
Classes grouped
Total
2,868
2,121
2,562
1,548
159
87
80
52
1,848
1,084
2,679
2,563
6,939
5,088
9,782
6,999
17, 707
3,024
3,070
818
5,877
2,023
1,731
378
8,105
189
10, 063
29, 735
6,345
2,495
17, 376
11,186
900
1,342
7,461
75, 918
42,150
13, 405
10,107
77, 924
11,141
835
44
1,923
28, 345
610
20,160
1,968
4,289
2,252
257
30, 718
11, 397
12,820
4,580
7 52,170
7 16,657
7 12,166
213
10,950
4,865
7
4,854
25
106
7 80, 768
1,236
2,128
7 3,
7
7
7
5,140
7 213
7
5,174
478
1 Cash includes amounts in till and deposits in bank. Reserve for bad debts has been deducted from accounts receivable.
2 Gross sales where inventories are an income-determining factor.
Gross receipts from operations wheie inventories are not an income-determining factor. Includes, for a limited number of returns in the "Finance" group, the cost of securities
purchased for customers.
4
Excludes nontaxable income other than tax-exempt obligations and dividends on stock of domestic corporations as reported in Schedule L of the return.
5
Compiled net profit or net loss is difference between total compiled receipts and total compiled deductions.
6 Classes grouped to conceal data reported and identity of corporation.
7
Compiled net loss or deficit,
s Less than $500.
3
a
CO
7 566
7 206
7
H
a
o
84
STATISTICS OF INCOME
TABLE 7.—Corporations, 1926-35, by major industrial groups: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income l
[Money figures in thousands of dollars]
[For text defining certain items and describing returns included, see pp. 1-4]
Year
Total
number of 2 Numreturns
ber
Returns with net income
Gross income 3
N e t income
Income
tax
Returns with no net income
Excess*- Numprofits ber*
tax«
Gross income 3
Deficit
AGRICULTURE AND R E L A T E D INDUSTRIES
1926.
1927..
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
10,688
9,905
10, 265
10, 615
10,961
11,014
10,977
10, 490
10, 526
10,084
4,698
4,445
4,504
4,407
3,475
2,546
1,153
1,443
1,995
2,321
615,141
633, 782
636, 641
636, 227
363, 718
215, 096
133,034
178,040
296, 513
358,965
70,812
78, 577
80, 476
72,801
40,484
14,002
5,979
14,894
30, 572
43,901
8,175
6 9,054
8,217
6,783
4,041
1,201
675
2,102
4,198
6,036
55
5,990
4,460
4,679
5,023
6,431
7, 354
8,615
7,818
7,331
6,734
249, 342
188, 645
188, 503
246, 280
307,122
276,868
235,120
217,090
241,135
230, 654
55, 665
61,893
50, 092
53, 543
86, 370
98, 778
94,962
60,212
85,272
40, 253
1, 339, 759
1, 576,986
1,087,745
1,016,184
1,388, 238
1, 496, 571
1,127,297
1,402, 596
1, 375, 939
1,292,853
183, 474
246,924
207,416
198,440
238, 459
325,963
287,042
248,127
165, 373
173,879
9, 573,203
13, 588,788
9,813,970
12, 252, 285
19,846,043
23,058,882
19, 279,691
12, 881, 490
13, 650,040
12, 484,183
786,687
851,053
833, 735
810, 244
1,639,844
2, 287, 589
2, 563,855
1,256, 586
926,189
666, 326
MINING AND QUARRYING
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
19,252
18, 519
18,793
18,261
17, 635
17,580
17, 218
17,068
18,656
18,420
6,006
5,232
5,183
5,211
4,700
3,832
2,868
2,982
4,460
4,527
3,207, 942
2,259,850
2, 501,468
3,031, 405
1, 611, 228
732,720
537, 578
555, 679
1,161,775
1, 331, 854
455,798
276, 309
332,679
430, 527
194,118
71,154
62,675
71,686
156,063
162,936
57,308
34,898
36, 751
44, 319
21, 474
7,211
7,445
9,921
21,456
22,400
13,246
7,804
7,750
7,291
7.533
8,291
9,178
8, 866
428 9,083
515 9,188
MANUFACTURING—TOTAL
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
93,244
93, 415
95, 777
96, 525
95, 098
93,109
91,849
93,831
96, 648
96,213
55,094
53, 620
55,007
55,488
40, 641
30, 270
14,985
26,354
34,023
37, 976
52,921, 594
50,134,091
57,458,959
59,879,759
38,804, 235
20,974,409
12, 696, 792
22,289, 285
27,442,910
35, 413, 610
4, 494,790 6 584, 507
3, 938, 647 507, 735
4, 744, 261 544,937
5,216,016 544,053
2, 757, 508 316,992
1,464, 619 165, 311
99,949
757, 501
1,460, 632 203,713
3,649
1,906,104 262,466
3,477
2, 482, 773 341, 355 15, 528
38,150
36,196
36, 566
36, 742
50,863
58, 815
72,931
62,295
57, 269
53, 700
MANUFACTURING-FOOD AND KINDRED PRODUCTS ?
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
15,008
15, 079
14,965
15,124
14,847
14, 632
•I A
8,950
8,971
8,844
9,045
7,897
6,466
Q£Q
12,859
13,362
13, 375
4,247
5,374
5,312
10, 553, 213
8, 524, 432
11, 551,431
9,641,960
7, 637, 397
5, 365,954
4,430, 704
5, 536, 520
6,973,816
7,340,434
475,074
461,046
518,092
540,186
436, 451
326,910
199,387
264, 606
302, 328
317, 671
61, 429
59,049
58, 391
56, 309
49,869
25, 201
36,906
41, 768
43, 670
631
642
1,584
6,058
5,461
5,405
5,380
6,328
7,524
10, 653
7,934
7,150
7,283
1, 762,832
4,188, 757
1, 497, 403
3,854,726
4, 377,338
3,988, 705
2,858,953
1, 748,880
1,371,310
1,988,025
93,052
105, 716
77,818
87, 721
128, 498
203. 478
207, 211
86,428
51,130
55,807
MANUFACTURING—LIQUORS AND BEVERAGES (ALCOHOLIC AND
NONALCOHOLIC)7
1933.
1934.
1935.
2,969
3,283
3,282
898
1, 368
1, 466
For footnotes, see p. 88.
484, 487
851, 516
1,107, 301
73, 363
97, 648
107, 824
10,199
13, 427
14, 826
397
402
905
1,648
1,540
1,481
107,420
207,905
216, 399
14,175
15,723
16,355
85
STATISTICS OF INCOME
TABLE 7.—Corporations, 1926-35, by major industrial groups: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income l—Continued
[Money figures in thousands of dollars]
Year
Total
number of 2 Numreturns
ber
Returns with net income
Gross income 8
Net income
Returns with no net income
Income Excess- Numprofits ber*
tax
tax*
MANUFACTURING—TOBACCO
1926
1927
1928
1929
1930-______
1931
1932
1933
1934
1935
497
445
439
437
405
370
382
405
405
387
289
261
238
243
195
155
114
122
131
139
1,124,966
1,177, 777
1,180,870
1,220, 530
1,094,278
1,086,321
978, 533
837,949
1,023,213
1,077,784
117, 366
124,775
121, 678
132, 682
143,788
142,494
138,399
65, 224
96, 296
99,419
Gioss income 3
Deficit
PRODUCTS
15,718
16, 745
14, 548
14, 554
17, 216
17,066
19,061
8,998
13, 241
13, 670
208
169
181
177
197
211
256
261
245
228
8
5
44
35,051
23,525
19,122
50, 436
76, 799
97,515
61,188
105,158
36,383
33,682
2,257
2,475
2,147
4,942
6,655
5,606
5,151
14,893
2,086
1,221
MANUFACTURING—TEXTILES AND THEIR PRODUCTS
1926
1927
1928.
1929
1930
1931. .
1932_
1933
1934. .
1935
13,436
13, 851
14, 508
14, 629
14, 692
14, 655
14,637
15, 351
15, 775
15, 656
7,708
8,240
8,076
8,104
5,678
4,875
2,467
5, 664
5,682
6,129
5,354,117
6, 285,401
5, 702,986
5, 902, 287
2,642,402
2,132,182
1, 211, 516
3,183.894
3,040, 608
3,881, 351
314,649
417,484
351,850
323,974
105, 610
77,830
41,052
203, 733
141, 702
171,425
39,829
50, 341
39. 355
33,197
11,122
7,351
5,047
28,010
19, 505
23, 570
764
291
1,034
5,728
5,343
6,098
6,236
8,753
9,503
11,872
9,310
9,741
9,254
2,398,617
1,522,068
2,134,380
2, 330,931
3,774,112
3,168,902
2, 672,436
1, 468,280
2, 209,651
2,045,223
195,164
120,816
155, 729
163,069
369, 690
342, 537
332, 249
96. 838
124; 914
100,258
M A N U F A C T U R I N G - L E A T H E R AND ITS MANUFACTURES
1926..
1927.
1928..
1929.
1930.
1931 _.
1932..
1933-.
1934..
1935_.
2, 491
2,411
2, 440
2,477
2,461
2,294
2,331
2,407
2,422
2,415
1,413
1,448
1,362
1,349
894
754
468
973
976
1,090
1, 234, 232
1,415, 200
1, 325, 306
1, 258, 771
733, 941
545, 388
371, 438
727,024
709, 035
935, 624
73,859
99,072
77, 425
76,803
38, 691
30, 091
18, 687
47, 586
36, 468
47, 766
9, 358
12, 229
8,892
8,109
4,389
3,340
2, 404
6,582
5,018
6, 568
MANUFACTURING—RUBBER
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
680
655
723
638
607
552
544
572
650
632
339
335
349
311
227
174
96
215
267
286
1,147,
1, 039,
932,
916,
559,
401,
127,
300,
362,
671,
37, 501
70, 253
44, 645
56, 324
12,242
14, 004
2,779
13, 339
14, 976
30,119
4,867
8,849
5.149
6,055
1,336
1,371
301
1,867
2,094
4,141
MANUFACTURING—FOREST
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
7,862
7,816
7,947
7,869
7,501
6,954
6,707
6,879
6,855
6,843
4,591
4,178
4,290
4,195
2,340
1,525
541
1,638
1,812
2,384
For footnotes, see p. 88.
2, 330, 766
1,929,814
2,052, 903
1,978, 584
723, 630
332,942
95,829
407,146
490, 335
734, 389
172, 972
125, 408
142,197
135, 612
35, 825
14,966
5,271
22, 745
27, 210
37,968
21, 907
15, 612
15, 210
13,437
3,591
1,379
666
3,153
3,743
5,221
167
66
198
427,012
316,039
396, 514
482,402
655,143
564,469
469, 593
261,236
324,117
228,436
27,436
21,703
28,038
36, 368
64,124
64, 737
61,797
20, 761
17, 545
9,009
341
284
331
303
354
361
426
330
340
312
452,909
407, 272
454,122
510,967
540,748
415,317
507,935
418,134
393,498
116, 885
24.764
19,356
45,987
39,191
63, 876
38,154
41,517
10,000
10, 566
6,989
3,271
3,353
3,367
3,294
4,868
5,150
5,929
4,882
4,725
4,199
738,045
874,474
789. 281
816,194
1, 263, 948
1, 014,898
758,131
586,815
605, 068
583,999
69,196
94,295
71,493
68,499
152,460
199,138
212,389
95, 335
76, 708
53,628
1,078
903
1,015
1,084
1,515
1,487
1,816
1,365
1,368
1,258
PRODUCTS
52
20
323
PRODUCTS
119
63
222
86
STATISTICS OF INCOME
TABLE 7.—Corporations, 1926-35', by major industrial groups: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income1—Continued
[Money figures in thousands of dollars]
Total
number of 2 Numreturns
ber
Year
Eeturns with net income
Gross income3
Net income
Returns with no net income
Income Excess- Numprofits bers
tax
tax*
Gross in,come3
Deficit
MANUFACTURING—PAPER, PULP, AND PRODUCTS
2,024
2,083
2,093
2,145
2,113
2,086
2,097
2,164
2,318
2,306
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
1,365
1,386
1,345
1,406
1,114
832
473
993
1,208
1,296
1,430,426
1,401, 780
1,374, 722
1, 546, 672
1,011,630
632, 927
291,719
709, 716
966, 703
1,165,444
120,460
123,988
118,580
124,347
73,641
37, 472
16, 600
52, 356
80,889
92,321
15, 610
16,063
13, 768
13,222
8,475
4,239
2,237
7,250
11,123
12, 686
169
211
266
659
642
678
673
953
1,200
1,582
1,106
1,032
938
221,834
267, 600
352,796
249, 444
567,158
639,142
717,678
453, 368
347, 752
326,145
14, 362
13, 614
14,959
19, 893
36,379
53,776
81,073
36, 090
28, 418
31, 994
MANUFACTURING—PRINTING, PUBLISHING, AND ALLIED INDUSTRIES
1926
1927
1928
1929
1930
1931
1932 .
1933
1934
1935
_ .
10,545
10, 679
11,127
11, 569
11, 736
11,822
12,100
12,077
12,622
12,912
6,931
6,734
7,070
7,331
6,098
4,593
2,155
2,713
4,490
4,895
2,196,254
2,185, 712
2,329,670
2, 468, 283
2, 055, 461
1, 285, 285
888, 484
977, 340
1, 285, 357
1,468,211
203, 507
198, 476
243,650
270,829
176,137
115,795
58, 804
71, 079
117, 465
140,037
25, 858
25,123
27,310
28,017
19, 641
12, 895
7,795
9, 853
16,148
19, 255
124
201
463
3,614
3,629
3,703
3,839
5.271
6,810
9,510
8,886
7,618
7,495
351,190
380, 417
350, 275
402, 692
607,967
1,000,179
900, 273
673, 352
571, 460
559, 876
31,006
34, 788
34,104
47, 749
54, 512
77, 802
96,170
57, 917
64,153
45,978
MANUFACTURING—CHEMICALS AND ALLIED PRODUCTS
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
7,286
7,229
7,501
7, 505
7,380
7,265
7,443
7,678
8,220
7,969
4,076
3,960
4,231
4,073
3,287
2,797
1,741
2,458
3,049
3,156
7,322, 287
6, 799,331
8, 772, 466
9, 550, 545
6 7, 376, 017
3, 371, 395
2,761,691
4,094, 654
3,322,986
4, 545. 732
785,155
495, 857
848.127
911,512
534,077
251, 493
167, 778
272,909
324,031
366.128
102,964
64, 767
99,002
98,124
62, 961
29, 409
22, 644
38, 240
44, 627
50,340
6
535
543
929
3,210
2,892
2,820
2,998
3,727
4,047
5, 315
4,696
4,559
4,350
768,153
1,969, 078
778, 526
737,016
2, 351,166
3, 952,977
3, 696, 099
2,191,132
3, 325, 574
2,882, 520
69, 279
110, 369
59, 789
56,976
175,459
318,864
223, 266
189, 213
178, 543
114, 331
MANUFACTURING-STONE, CLAY, AND GLASS PRODUCTS
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
4,606
4,682
4, 852
4,816
4,724
4,418
4,268
4,112
3,974
3,967
2,762
2,587
2,676
2,572
1, 805
1,149
424
642
997
1,253
1, 500,051
1,357,109
1,394,910
1, 389,486
1,027, 449
483, 373
184, 622
428, 580
603, £92
769, 225
195,166
157, 263
172, 007
163,646
92,812
41,683
13, 270
34,762
61, 751
88, 695
25, 542
20, 564
19, 770
17, 268
10, 487
4,614
1,760
4,826
8,491
12,196
86
59
470
1,844
1,876
1,933
1,989
2,713
3,076
3,685
3,186
2,747
2,524
164. 876
243. 350
259.911
265, 730
382,407
558, 054
485, 794
290,009
235,957
248,437
22,112
28,356
32, 518
33, 439
53, 374
79,174
110, 098
55, 635
36, 527
31, 216
MANUFACTURING—METAL AND ITS PRODUCTS
1926..
1927..
1928..
1929.
1930..
1931.
1932.
19331934.
1935..
20,054
20,379
20, 695
21,047
20, 831
19, 700
18,877
19,080
20, 353
19,856
11,989
11,412
12, 252
12,864
8,188
4,744
1,917
4,291
6,844
8,426
For footnotes, see p. 88.
16, 661, 793
16, 256, 966
18, 847,896
22,125,989
12, 790, 300
4, 652,191
1,031,353
4, 059, 694
7,040, 389
10, 652, 872
1, 803, 444 237, 077
1, 501, 274 6198, 066
1, 910,004 221, 838
2, 291, 767 236, 494
1,003,020 116,149
355, 221
40, 624
71,098
9,558
287,192
40, 565
535,147
73, 627
874, 503 120, 240
377
788
8,202
8,065
8,227
7,479
7,292
11,904
14,174
16,191
13,849
12, 437
10, 702
1,792,082
192.574
2, 928, 373
241, 305
254.975
2, 326,047
170,113
1,966, 590
400, 375
4, 407,595
760,951
6,861,806
5, 475,380 1,054, 566
494,126
4,077, 533
3, 588, 045 278, 421
169,108
2, 902, 219
87
STATISTICS OF INCOME
TABLE 7.—Corporations, 1926-35, by major industrial groups: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income1—Continued
[Moneyfiguresin thousands of dollars]
Year
Total
number of 2 Numreturns
ber
Returns with net income
Net income
Gross income3
Returns with no net income
Income Excess- Numprofits bers
tax
tax*
Gross income3
Deficit
MANUFACTURING—MANUFACTURING NOT ELSEWHERE CLASSIFIED
1926
1927
1928. .
1929
1930
1931
1932
1933 _
1934
1935
8,755
8,106
8,487
8, 269
7,801
8, 352
7,495
7,278
6,408
6,613
4,681
4,108
4,274
3,995
2,918
2,206
960
1,500
1,825
2,144
2, 066,
1,761,
1,""
1,
1,152,
685,
323,
541,
772,
1,083
195, 637
163, 752
195, 999
188, 335
105, 216
56,661
24, 377
51, 736
70,192
108,897
24, 349
20, 326
21, 702
19,267
11, 756
6,201
3, 273
7,262
9, 653
14, 973
220
184
4,074
3,417
3,556
3,477
4,280
5.272
5,696
4,842
3.767
3,676
460, 600
467,835
455, 592
585,157
841, 663
796, 917
676, 232
480,173
433,320
352,33S
45,484
58, 260
56,179
82, 284
134,443
143, 375
138, 367
85,175
41, 456
30, 433
6,695
6,281
7,117
7,896
9,674
11,675
15, 204
14,112
12, 588
11, 808
528,548
642, 410
661,089
790, 254
867, 972
1, 022, 318
969, 246
704,115
681,905
703, 428
53, 621
59, 417
71,369
70, 066
82, 488
111,048
141,060
91,445
66, 482
55,737
CONSTRUCTION
1926
1927
1928 _
1929
1930
1931
1932
1933
1934
1935
16, 770
17, 609
18,770
19, 947
20,035
19, 806
19, 046
18, 235
17, 751
17, 687
10,075
10, 071
10,179
10, 462
8,871
6, 457
2,115
2,140
3,353
4,242
2, 287. 548
2, 413,184
2, 317,186
2, 291, 630
2,174,156
1, 213, 234
468,670
374, 434
574, 874
789, 599
162,569
171,160
170, 906
178, 376
150,548
80, 699
30, 691
23, 638
31, 694
49, 260
19,146
20,078
17,175
16,519
15, 210
7,625
3,639
3,2*8
4,358
6,772
173
190
710
TRANSPORTATION AND OTHER PUBLIC UTILITIES
1926
1927 _.
1928
1929
1930 —
1931
1932 .__
1933
1934 __
1935
25,100
22, 912
23, 662
23, 951
23, 662
23, 715
24, 038
24, 302
28, 537
28,437
15, 444
13, 855
13, 882
13, 614
12,109
10, 933
6,700
7,429
9,808
10, 600
13, 518, 653
12,844,090
14, 263, 775
15,584,026
12, 935, 569
6, 800, 951
4, 851,474
4, 782, 688
5, 895,192
6, 520,071
1, 723, 399
1, 588, 880
1, 813, 088
2, 092, 654
1, 334, 229
902, 635
708,168
657, 272
919, 298
927,144 '
9,656
6,982
7,422
7,994
9,522
10, 622
14,981
14, 349
15, 571
14, 833
228, 663
210, 878
211, 681
222,483
156, 573
105, 585
98,118
92, 258
126, 600
127,580
324
329
1,125
140, 523
137, 352
126, 332
107,149
64,166
45, 708
30, 644
60, 438
92, 200
105, 495
41,302
44,931
46, 602
50, 483
71, 746
86, 799
111,363
1,751 93, 621
2,077 88,053
3,311 87, 068
1, 245, 631
2, 295, 882
1, 538,135
1, 500,004
3, 060, 013
6, 584, 845
6, 387, 532
5, 826, 561
5, 215, 038
5,064, 703
120,174
197,472
173,170
190, 692
333, 528
605, 249
839,051
743,116
642,896
572,047
TRADE
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
112, 705
122, 360
129, 766
132, 660
134, 769
136, 520
135, 977
137,858
146, 056
149, 426
71,
74,
79,
78,
59,
46,
20,
39,
52,
57,
403
747
745
606
741
049
951
275
823
813
33,459,063
33, 512,876
34, 824, 464
34, 264, 086
23. 380, 483
16,109, 402
9, 329, 422
14, 976,095
22,949, 508
27, 582,955
1,165, 558
1,156, 870
1, 246, 862
1,149, 235
651,097
460, 035
234, 674
435,820
670, 336
767, 428
7, 478,473
330,998
7, 430, 840
362, 339
8, 379, 620 355, 514
9, 230, 447 419, 398
738, 695
13, 828, 241
14,484,044 1,025, 431
13, 804,005 1, 039,924
9, 222, 849 476,184
349,162
10, 061, 452
301, 252
9, 946,860
SERVICE—PROFESSIONAL, AMUSEMENTS, HOTELS, ETC.
1926 „
1927
1928
1929 .
1980
1931 1932 . .
1933
1934 .
1935.__.
32, 257
34,193
36,829
39, 642
42,064
42, 406
47, 568
47, 843
50, 989
54,560
17, 755
18, 287
19,008
20, 230
18, 741
15, 637
7,140
7,566
11,194
13,358
For footnotes, see p. 88.
2, 628, 040
2, 680,916
2, 784,161
3,051,820
2, 757, 401
1, 698,877
910, 255
868, 980
1, 561, 845
1,803,935
260, 981
244,464
254,186
314, 426
234, 227
117,925
64, 392
60,982
107,807
127,448
31, 040
28, 626
25, 501
29,632
23, 705
11, 081
e 8, 396
8,478
14, 863
17,514
239
348
729
14, 502
12, 859
14, 518
15, 737
19,472
22, 588
36,142
35,419
34, 718
36,289
732, 272
906,079
1,043,450
1,140,089
1, 407,466
1,980,348
2,181, 586
1, 952, 228
1, 812, 431
1,903,785
103, 772
117,065
126, 709
154, 215
179, 230
241, 288
480,481
378,023
283, 406
268,518
88
STATISTICS OF INCOME
TABLE 7.—Corporations, 1926-85', by major industrial groups: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income1—Continued
[Money figures in thousands of dollars]
Year
Returns with net income
Total
number of 2 Numreturns
ber
Gross income3
Net income
Returns with no net income
Income Excess- Numprofits bers
tax
tax*
Gross income3
Deficit
FINANCE-BANKING, INSURANCE, REAL ESTATE, HOLDING COMPANIES, STOCK
AND BOND BROKERS, ETC.
1926
1927
1928
1929
1930
3931
1932
1933
1934
1935
130,433
137,425
145,433
150, 588
153,182
152,920
143.805
142,942
147, 277
143,843
76.819
9, 356, 744
78,100 10,797,010
80,315 612,556.460
80.2fiO 10.872.951
7. 519, 508
72,102
4. 293, 852
59.129
2, 77H, 019
26. 395
2, 725. 266
22,369
3,036, 267
27. 257
3, 638, 747
33, 231
160, 215
1,336,893
1,522.834
181,706
1,971.343
213. 238
2,197,539
222,403
1, 064, 816 109.455
55,166
570. 502
36, 576
287, 992
200. 569
35,848
452.414
62.108
603, 274
82, 928
604
742
2,886
53,614
44,582
48. 824
53. 677
64,477
75, 434
98, 725
99.314
98,839
91,702
2,942,936
2,407,046
' 2,677,838
4,786,459
5, 777.697
6, 535.974
5,378,896
4,695.482
4,868.813
4,864,478
528.032
566,177
566,199
1,008,827
1, 566. 677
2,256,843
2, 335, 500
2, 273.806
1. 657,190
1,381,593
14.031
1, 731
1,350
1,748
1,898
2,228
2, 099
1.262
1,251
1,560
17, 572
37, 336
21, 639
25,715
17,773
24,354
12. 403
7, 643
3,546
3,720
6,287
9,398
6,920
8,703
12. 303
18, 724
14,813
5,838
5,058
9,168
NATURE OF BUSINESS NOT GIVEN
1926 „
1927
1928
1929
1930
1931 „
1932
1933
1934 ._
1935
14,871
18, 693
16,597
17, 247
21,330
19,334
18,158
11,511
12,458
14,961
840
1,492
960
1,152
1,040
1,045
339
228
188
163
27, 393
48, 540
26,411
21,886
15, 197
12. 494
2,719
1,899
2,071
1,771
2.604
4,143
3,940
2.312
1,786
1,796
1,041
479
908
560
220
348
309
94
88
105
135
67
125
77
2
2
6
* Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
corporations are summarized on pp. 101-105.
8
Includes returns with no income data—inactive corpora'ions.
3
Gross income corresponds to total income as reported on face of return, plus "Cost of goods sold" and
"Cost of operations." For 1934 and 1935, interest received on Liberty bonds, etc., has been deducted from
gross income, as this i'em was not included in gross income for prior years.
* The excess-profits tax for 1933 became effective June 30, 1933, under the tax provisions of the National
Industrial Recovery Act. Under the provisions of the Revenue Act of 1934, a small amount of excess-profits
tax for 1934 and 1935 appears on returns with no net income for income tax purposes. The credit for interest
received on certain obligations of the United states and its instrumentalities, which is allowed against net
income in the computation of the income tax, is not allowed against net income in the computation of the
excess-profits tax. (See article 1 (d), Treasury Decision 4469, ''Regulations relating to excess-profits tax
imposed by sec. 702 of the Revenue Act of 1934.")
* Prior to 1927, returns with no income data—inactive corporations—were included with returns with
no net income.
« Revised. For revised figures for 1927, see Statistics of Income for 1928, p. 329: for revised figures for 1928,
see Statistics of Income for 1930, p. 239; for revised figures for 1930, see Statistics of Income for 1931, pp. 32 and
33; for revised figures for 1932, see Statistics of Income for 1933, p. 37.
i Liquors and beverages included in "Food and kindred products," 1926 to 1932.
89
STATISTICS OF INCOME
TABLE 8.—Corporations, 1926-35, by States and Territories: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income 1
[Money figures in thousands of dollars]
[For text defining certain ftems and describing returns included, see pp. 1-4]
Returns with net income
Total
number of
Numreturns 2
ber
Year
Gross
income *
Net
income
Returns with no net income
Income
tax
Excess- Numprofits
ber 5
tax*
Gross
income *
Deficit
ALABAMA
4,133
4,383
4,656
4,473
4,477
4,299
4,065
3,827
' 3, 797
3,725
1926.
1927.
19281929.
1930.
1931.
1932.
1933.
1934.
1935.
2,618
2,697
2,619
2,310
1,772
1,380
607
916
1,295
1,308
547, 389
519, 012
500,374
454, 089
249,927
134,244
50, 683
175, lii'O
241, 750
251,185
4,861
4,172
3,055
2, 643
1,048
412
247
1.105
1,504
1,530
40,662
35, 667
31,251
29, 089
12,394
6,049
2, 200
8, 140
10.940
11,121
84
64
62
1,515
1,313
1,608
1,767
2,261
2.370
2,953
2,416
2,098
2,085
123,28,5
138,880
161,007
176, 391
276, 462
244, 801
232, 078
160.538
181, 338
215, 737
9,950
9,353
10, 519
16, 472
25, 020
29, 845
39,662
21, 503
18,497
15,781
6
6
11
83
48
51
46
55
86
92
87
115
113
1,901
1,441
2,189
1,857
2 808
3,488
2,770
2 762
3,103
3, 325
380
537
407
252
448
562
637
374
372
390
2
21
38
886
403
430
510
725
807
1,026
934
809
774
29, 687
30,332
45,425
36,616
74,354
56,072
52, 256
42, 635
37, 302
41, 239
ALASKA
1926
1927
1928
1929
1930
1931 - - 1932
1933
1934
1935
_ ..
156
174
175
182
170
181
165
170
203
217
73
94
94
109
92
71
42
61
62
80
7,283
7,378
7,459
8,618
6,284
4,368
2,949
4,214
4,458
7,914
674
678
642
837
66
63
46
46
35
18
24
46
76
115
333
337
556
836
ARIZONA
1926 1927
1928
1929
1930
1931
1932 .
1933
1934 _ .
1935
.
1. 5 05
1,556
J. 734
L, 953
L, 932
1,893
L 773
,
L, 674
L, 586
L 555
,
619
668
766
822
629
506
217
240
389
466
119,900
129,187
126, 210
161, 623
69, 571
48, 834
19,672
29, 778
66, 782
85, 620
1,701
1,626
1,707
1,680
1,140
899
499
740
907
1,028
302, 332
272, 395
308. 073
304, 739
146, 505
69, 487
40, 052
87, 868
133, 632
158, 696
8,813
7,780
9,811
18,992
4,756
2,522
808
1, 110
3,279
4,401
1,011
865
936
1,732
421
194
106
153
451
604
5,154
6,344
8,923
19, 259
9,771
14,970
11, 863
11, 751
5,195
5,727
ARKANSAS
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
2,634
2,660
2,760
2,629
2,624
2,471
2,306
2,325
2,366
2,534
18, 597
16, 260
17, 064
17, 566
6,755
3,946
1,901
3,981
6,002
7, 101
2,123
1,811
1,573
1,451
571
303
231
545
825
976
933
884
889
795
1,309
1,415
1,679
1,460
1,336
1,324
91, 264
113. 687
107, 435
74, 138
160, 302
144,318
116, 265
82, 670
82,131
89, 846
10, 397
12,107
9,449
6,140
19, 094
15, 926
14, 579
8,949
6,576
5,684
10, 357
8,494
8,747
9,243
11, 538
13, 569
16, 590
15, 352
14,675
13, 500
1, 344, 545
1,271, 408
1,165,995
1, 507,059
2, 333,480
2, 390, 597
2, 221,271
1, 709, 344
1, 714, 305
1, 600,398
138, 640
146,149
145, 859
147, 570
253, 757
395, 716
385, 853
269, 010
227,880
170,684
CALIFORNIA
1926 .
1927
1928
1929
1930 —
1931
1932
1933 .
1934
1935
21, 258
22,162
22, 754
23,206
23, 836
23, 738
24,109
23,700
25,106
25, 246
10,901
11,098
] 1,438
11, 316
9,517
7,465
4,419
5,284
7,112
8,623
For footnotes, see p .
5,217, 404
5, 349,887
6,110, 532
5, 274, 664
3, 733, 0*5
2, 441, 374
1, 595, 538
2, 052,632
2, 790,876
3, 584,160
423, 839
447, 750
552, 289
512,923
324, 584
190,149
139, 578
156, 571
228, 691
265,864
54, 319
56, 530
62, 038
52,960
36,114
20, 714
18, 703
21, 644
31, 449
36,557
335
382
1,253
90
STATISTICS OF INCOME
TABLE 8.—Corporations, 1926—35, by States and Territories: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income ! —Continued
[Money figures in. thousands of dollars]
Total
number of 2 Numreturns
ber
Year
Returns with net income
Gross
income»
Net
income
Income
tax
Returns with no net income
Excess- Numprofits ber s
tax<
Gross
income 3
Deficit
COLORADO
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
6,580
6,863
7,134
7.317
7,257
7,205
6,952
6,705
6,824
6,660
3,071
3,144
3,342
3,311
2,941
2,359
980
1,098
1,559
1,854
853. 412
745, 766
941,132
738, 303
446, 515
284, 298
191,260
296, 951
385,308
440,918
62,872
47, 758
59, 932
52. 349
30,943
18,442
14,283
25,825
32,985
38, 338
7,812
5,647
6,1C9
5,084
3,090
1,786
1.775
3,557
4,536
5,271
75
103
208
3,509
2,291
2,313
2,474
2,845
3,355
4, £64
4,251
3,851
3,601
182, 200
292, 356
147,988
200, 275
364,806
366, 998
322, 205
233,981
203,087
204,970
21,333
27. 717
17; 103
21,166
28, 737
40, 802
42, 849
33,471
24,175
24, 252
52
42
190
2,509
2.283
2,326
2,486
3,742
4,425
6,418
6,101
5,940
5,748
372, 503
333,327
365,863
378,205
763,913
902,377
905,173
754,143
711,228
638,072
40,943
27,109
28,197
33,654
80,185
104, 327
124, 782
70. 773
71,179
56, 061
123
145
588
672
485
471
583
811
1.003
1,341
1,356
1,509
1,628
57,164
97, 435
105,179
175,492
278,671
813. 073
636,895
658,344
570,810
857, 074
13, 485
22,832
9,440
34,178
45, 823
93.408
100, 758
79,425
48. 572
77,547
68, 254
14
49
120
811
695
822
872
966
1,081
1,590
1,554
1,428
1,399
102, 795
88. 083
121, 339
253. 735
257,854
211,183
221,222
230,133
7,734
8,734
11, 527
10,237
15,135
25,135
52, 598
29,876
22,199
13,705
48
81
173
6,151
5,323
5,177
4,778
4,769
5v073
6,611
5,892
5,423
5,539
343, 417
372, 695
288,297
284,945
254,971
263,357
262,469
207, 694
208,254
227,302
73, 208
93, 803
75, 784
73,713
63,398
77, 571
58, 228
44, 546
35, 260
30,952
CONNECTICUT
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
. -
6,280
6,685
7,105
7,529
7,955
8,074
8,370
8,521
8,948
9,051
3,771
3,935
4,302
4,558
3,698
3,155
1,381
1,861
2,385
2,708
1, 683,
1, 785,
1,925,
2, 021,
1, 329,
851,
462,
663,
962,
1, 226,
124,029
136, 992
177, 471
199,914
84,911
58, 810
35, 344
50,968
73,219
90,438
15, 646
16,827
19, 570
20. 782
9,170
6,398
4,752
7,069
10,073
12,434
DELAWARE
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
1,483
1, 553
1,705
1,951
1,951
1,966
2,054
2,106
2,572
2,888
811
845
984
1,068
888
674
445
472
706
883
644,
1,088.
1. 330,
1, 674,
1,477,
679,
585,
530,
760,
872,
82, 896
116,890
189, 783
272. 455
125,272
76,198
40, 697
62,291
93,329
128, 568
10,815
15. 548
22,067
29,423
14,548
5,573
12,882
17, 677
D I S T R I C T OF C O L U M B I A
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1,888
1.988
2,220
2,329
2,317
2,343
2,378
2,445
2,598
2,780
1 077
1^ 070
1,126
1,196
1,124
1,067
586
653
918
1,158
596,909
548. 825
555,365
567,465
472,483
283, 554
174,424
216,810
305, 696
375, 784
65,987
55,838
55, 898
52,909
30,330
22,376
14,949
13,914
22, 871
27, 023
8,671
7,225
6,423
5,460
3,286
2,419
2,064
1,948
3.145
3,713
FLORIDA
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
10, 853
11, 010
11,283
11,119
11,309
11,028
9,853
9,263
9,609
9,863
4,702
3,443
3,368
3,489
3,469
3,064
1,204
1,541
2,332
2,651
For footnotes, see p. 99.
818,159
369, 737
352, 552
355,211
323, 672
229, 590
125,985
186,016
326,861
399,849
82,638
32, 218
27,064
28,114
20, 922
12,806
6,481
8,471
16,458
22,106
9,625
3,413
2,276
2,210
1,676
909
784
1,161
2,265
3,039
91
STATISTICS OF INCOME
TABLE 8.—Corporations, 1926-35, by States and Territories: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income x—Continued
[Money figures in thousands of dollars]
Returns with net income
Year
Total
number of
Numreturns 2
ber
Gross
income»
Net
income
Returns with no net income
Income
tax
Excess- Numprofits
ber*
tax*
Gross
income 3
Deficit
GEORGIA
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
5,281
5,524
5,620
5.738
5,678
5,567
5,360
5 556
5' 900
5,830
3,234
3,416
3,409
3,390
2,681
1,980
1,032
1.825
2,277
2,381
871, 829
869, 452
875, 584
806, 659
436, 314
316, 569
178, 537
406, 807
565, 990
504, 588
7,564
8,320
6,891
6,105
2,252
1,664
1,354
3,115
4,830
3,669
61, 824
70, 521
64, 903
62, 281
25, 925
18, 624
10, 767
22, 769
35,126
26, 683
2,047
1,839
1,922
2,037
2,717
3,308
4,046
3,349
3,153
3,044
228, 593
229,623
257, 331
293, 278
427, 555
356,912
326, 905
202, 500
228,405
299, 471
23, 522
19,387
18, 500
20,486
39, 200
44,109
36, 490
20, 330
22, 628
18, 706
3,996
3,715
3,883
3,046
2,643
447
1,031
2,680
2,281
4,294
204
203
238
291
339
346
446
413
392
313
18, 314
32, 904
41,473
26, 577
42, 304
52, 942
105, 213
50,812
40, 655
21, 900
1,667
2,200
1,696
2,895
4,787
9,228
17, 280
5,878
4,711
4,207
837
587
535
505
403
226
177
280
502
885
50,174
53,184
50, 413
50, 361
73, 898
65, 211
9
19
22
1,291
564
553
593
790
1,031
1,323
1,078
966
898
6,219
5,915
6,839
4,620
9,156
12, 716
13, 983
6,418
4,715
3,403
579
799
2,823
11, 354
10, 052
10, 370
11, 339
15, 780
18, 920
24, 144
21, 731
21, 099
20,120
182
210
720
4,191
3,343
3,561
3,705
5,186
6,236
8,322
7,423
6,965
6,431
84
71
133
HAWAII
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933
1934.
1935.
633
686
734
784
785
669
780
768
791
798
429
445
455
448
413
295
304
329
371
457
190, 085
205, 254
206, 357
213, 699
184, 486
46, 360
91, 062
156, 8C8
176, 327
227,150
25, 849
28, 349
33, 456
28, 829
22, 836
4,552
7,675
19,518
16, 586
31, 236
IDAHO
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
2,282
2,270
2,352
2,412
2,509
2,509
2, 350
2,295
2,270
2,269
991
1,014
1,061
1,054
919
685
279
470
593
653
146, 791
118, 271
126, 777
135, 466
86, 771
56, 223
21, 777
42, 957
69, 703
84, 461
7,707
5,930
6,645
7,525
4,943
2,819
1,258
2,046
3,690
6,435
47, 434
41, 224
47,137
ILLINOIS
1926
1927
1928
1929
1930
1931
1932
1933
1934 ._
1935 . _ . . _.
28, 340
29, 248
30, 444
31, 700
32, 043
32, 260
32,117
32, 266
34, 845
35, 331
16, 986
16, 913
17, 668
17, 698
13, 389
10, 489
4,816
7,259
9,974
11, 506
1926
1927 . .
1928
1929
1930 .
1931
1932 .
1933
1934
1935
11, 080
11, 463
11, 703
11, 789
11, 663
11,989
11, 649
11,773
12, 275
12, 515
6,889
6,821
6, 836
6,881
5,289
4,395
1,963
2,797
3,646
4,397
14, 390, 967
901, 782
11, 953, 762
836, 588
15, 684, 946 1, 012, 940
14, 094, 546 1,103, 647
586, 664
9, 617,188
263, 614
5, 651, 020
131, 959
3, 565, 964
220, 079
5, 337, 930
368, 385
7, 446, 960
461, 663
9, 006, 547
116, 559
107, 499
115, 222
115, 133
66,135
28, 520
15, 713
30, 722
50, 791
63, 479
1
2, 238, 434
4, 764, 386
2,151, 365
4, 801, 819
6, 402, 522
6, 825, 575
5, 758, 058
3, 899, 593
3, 608, 633
3, 546, 361
159, 687
185, 949
179, 767
216, 642
407,150
642, 842
820,155
548, 081
448, 458
335, 000
INDIANA
For footnotes, see p. i
1,
1,
1,
1,
806, 530
582, 823
635, 492
708, 371
994, 645
696, 537
292, 504
571, 914
894, 540
1,159, 218
129, 344
115, 760
122, 603
124,080
71, 467
50, 362
23, 414
36, 804
60,116
82, 779
15, 748
13, 965
12, 902
11,980
7, 250
4,888
3,108
5,082
8,275
11, 382
371, 233
479,236
469, 320
502, 243
767, 555
730, 309
702,416
480, 611
507, 688
464, 908
33, 416
41, 571
34,984
40,188
70, 090
95, 807
120, 254
'
71,161
61, 681
42,073
92
STATISTICS OF INCOME
TABLE 8.—Corporations, 1926-85, by States and Territories: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income *—Continued
[Money figures in thousands of dollars]
Returns with net income
Total
number of
Numreturns 2
ber
Year
Gross
income *
Net
income
Income
tax
Returns with no net income
Excess- Numprofits
ber*
tax*
Gross
income *
Deficit
IOWA
8,843
9,050
8,643
9,116
9,125
9,350
9,131
9,011
8,990
8,736
1926.
1927,
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
5,060
5,087
4,981
5,109
4,558
3,527
1,377
1,987
2,654
2,944
1,054,994
1,047,967
1,098.127
1,089, 544
935, 209
548, 375
286, 327
415, 557
605,840
733,915
56,751
53. 292
65, 510
68,045
46,489
25, 509
11, 239
18, 543
27,254
34, 631
6,586
6,154
6,605
6,399
4,574
2,361
1, f 03
2,584
3,768
4,760
3,783
2,592
2,507
2,430
3,077
4,119
5.867
5,060
4,409
4,054
218.046
248, 748
219, 656
261, 779
337,932
408,076
380.172
253,415
232, 770
258,798
25,033
19,190
18, 550
20, 436
28. 276
47.427
56,170
37, 714
26,938
23,890
2,027
1,677
1,531
1,517
2,059
2,714
3,453
3,131
2,829
2,663
14,1,554
295,469
178, 640
154,393
373,290
281,443
239, 684
294,673
218, 757
252,944
12,889
29,873
10,460
1?,768
29,352
52, 645
32, 539
21, 944
20, 256
22, 370
110
100
173
2,076
1,691
1,783
1,799
2,364
2, 765
3,586
3,141
2,895
2,661
194,012
157,883
172, 661
193, 354
277,027
433,143
327,561
245, 309
267,830
187,697
14,471
14 494
15, 998
16,388
74, 305
40, 242
39. 228
29, 766
24,001
19,178
83
68
313
2,380
2,092
2,132
2,242
2,881
3,440
4,681
4,315
4,144
3,784
312,137
316,042
295,881
339,902
515, 634
480,865
399, 762
237,503
262,124
279,803
26, 200
26, 323
27, 385
32,196
51, 988
59,975
54, 925
48, 511
30, 565
46, 257
1,471
1,042
1.133
1,180
1,476
1,806
2,614
2,454
2,313
2,336
99, 758
108,635
124, 662
141,410
265,180
270, 579
238,515
189,082
181,155
178,297
10,464
11, 270
8,974
20, 792
28, 487
36,900
49, 719
38,067
21,097
16,949
50
73
212
KANSAS
5,280
5,191
5,228
5,192
5,308
5,290
4,997
4,833
4,955
4,841
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
3,253
3,122
3, 258
3,278
2,846
2,111
1,064
1,175
1,674
1,832
1,109.432
879,042
1.061,843
1,157, 222
710, 603
460.740
288. 764
205, 823
493,750
491, 601
131, 459
99, 606
108,127
134, 228
74, 321
32,439
13,308
8,203
19,990
20,360
17,017
12,807
12,100
13, 952
8,241
3,435
1,819
1,131
2,772
2,811
KENTUCKY
5,479
5,718
5,894
5,668
5,764
5,470
5,193
5.103
5,299
5,252
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
3,403
3,397
3,457
3,316
2,767
2,158
1,079
1,439
1,892
2,120
933,658
938, 354
955,937
921,182
612, 278
267, 715
221, 566
349, 713
576,013
736,180
77, 203
72, 270
75,154
77, 305
38.453
18, 965
14, 468
23, 933
43.978
46, 686
9,612
8,893
8,172
7,746
3,982
1,843
1.873
3,316
6,047
6,419
LOUISIANA
1926
1927
1928
1929.__1930
1931
1932
1933
1934
1935
-.
.-.
5,657
5,817
6,072
6,314
6,440
6,597
6,675
6,605
6,995
6,850
3,277
3,219
3,370
3,424
2,903
2,415
1,197
1,502
2.012
2,325
930,187
936,032
1,040,909
885,801
605,069
419,649
243,716
384,501
527,452
626,077
3,443
3,489
3,644
3,720
3,789
3,884
3,771
3,771
3,897
3,912
1,972
2,072
2,092
2,095
1,888
1,535
713
854
1,087
1,111
461, 039
484, 207
494,436
487, 657
330, 322
210,292
107, 009
153,431
191,809
219, 382
62,497
56,861
60, 221
53,648
33. 217
23,234
14,929
21.130
31,487
35,823
7, 554
6,753
6,122
4,980
3,086
2,150
1,765
2,880
4,357
4,923
MAINE
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
For footnotes, see p.
32, 529
36. 574
34. 915
35,379
24, 232
13,355
7,924
10,119
12,638
13,410
3,909
4,327
3,703
3,432
2,496
1,304
1,084
1. 358
1,743
1,843
93
STATISTICS OF INCOME
TABLE 8.—Corporations, 1926-35, by States and Territories: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income l—Continued
[Money figures in thousands of dollars]
Total
number of 2 Numreturns
ber
Year
Returns with net income
Gross
income 3
Net
income
Income
tax
Returns with no net income
Excess- Numprofits ber 5
tax*
Gross
income 3
Deficit
MARYLAND
1926—
1927
1928
1929 .
1930
1931 _
1932 . .
1933
1934
1935-.
5,621
5,787
5,970
6,189
5,922
5,841
6,156
6 313
6,740
6,776
3,188
3,162
3,144
3,334
2,775
2,255
1,300
1,653
2,187
2,324
1,446, 205
1, 355,004
2,348, 695
2, 505, 888
2,114, 349
1, 529, 221
1,169,378
1, 260,465
687,119
793,415
118,166
104,113
156, 352
165, 645
116, 375
76, 622
56,117
55,447
55, 948
55, 806
14, 934
13,189
17, 573
16, 851
13, 225
8,736
7,712
7.659
7,581
7,608
80
143
201
2,433
1,882
2,067
2,143
2,479
2,932
4,102
3,836
3,735
3,663
211,857
222, 922
236, 587
279,430
420,191
719,472
703,194
577, 569
593, 365
600, 357
20, 398
36, 988
25, 825
30,010
57,808
101, 813
135, 243
102, 824
70,417
79,132
451
216
1,124
7,887
7,149
7,501
7,980
10, 546
11,948
15, 396
13, 720
13, 622
13, 321
1, 794, 802
1, 366,406
1, 849, 502
1, 914, 633
2, 729, 715
2,410,170
2, 231, 981
1, 616, 687
1, 872, 967
1, 650,133
146,128
136, 208
147, 014
190, 760
346, 662
337,204
369, 374
226, 791
172, 298
164, 745
184
325
6,143
5,271
4,873
4,840
5,448
8,063
9,124
11,247
9,947
9,103
8,370
671, 641
1, 235, 428
1, 325,147
1,106, 247
1, 716, 269
2, 036, 296
2, 224, 772
1, 306, 356
950, 968
719, 647
84,481
134,299
159,477
119,044
193,928
299, 845
372,480
169,299
126, 068
106, 842
77
151
310
5,095
3,693
3,544
3.563
4,435
5,427
7,513
6,855
6,414
5,847
517, 264
343, 390
418, 990
477, 318
722, 989
951,175
867, 046
651, 229
676,997
608, 656
31,056
36, 398
28, 226
32, 732
60,139
105, 601
143, 426
103, 034
91, 804
64, 388
12
23
42
700
674
780
894
1,293
1,461
1,778
1,461
1,325
1,299
67, 587
77, 817
80, 317
96, 251
136, 535
111,822
106, 816
77, 530
81,179
88, 206
7,405
7,861
6,779
7,728
14, 365
15,105
16, 048
10, 731
8.811
7.802
MASSACHUSETTS
1926 _
1927—
1928
1929
1930
1931
1932 . .
1933
1934
1935 .
17,639
18,182
18, 851
19, 401
20, 070
19, 678
20, 016
19, 972
21, 206
21, 699
9,752
9,907
10, 266
10, 383
8,316
6,727
3,476
5,174
6,188
7,027
5, 288,
5, 575,
6 5, 354
5, 739,
3, 506,
2, 581,
1, 616,
2, 492,
2, 557,
3, 298,
382,932
399, 971
412, 506
444, 570
249, 537
170, 983
106, 685
177, 754
177, 365
223,173
48, 500
49,174
45, 923
44, 620
27, 837
18, 985
14, 217
24, 779
24, 388
30, 686
MICHIGAN
1926—
1927
1928
1929 „
1930__.
1931
1932
1933 .
1934
1935 .._
_.
13, 553
14,120
14, 920
15, 543
15, 758
15, 287
14, 951
14, 798
15, 582
16,166
8,282
7,953
8, 655
8,631
6,045
4,562
2,063
3,141
4,742
5,946
6, 847,081
5, 929, 512
6, 998, 639
8,083, 807
4, 654, 505
2, 776, 880
703, 521
2, 391,165
4, 918, 522
7, 115, 810
10, 965
11,101
11, 302
11, 482
11, 476
11,403
11,196
10, 792
11, 298
11, 214
5,870
5,910
6,229
6,316
5,491
4, 364
2,030
2,373
3.185
3,683
2, 245, 522
2, 499,166
2, 544, 669
2, 502.989
1, 857, 606
1, 063,009
652, 128
995, 647
1, 326, 095
1, 589, 448
672, 422
624, 658
735, 671
762,435
389, 342
239,140
54, 022
176, 627
282, 582
456, 526
88,183
81,971
85, 310
71, 628
43, 858
27, 123
7,219
25,110
38,862
62, 772
MINNESOTA
1926
1927
1928 . .
1929
1930- _
1931
1932
1933
1934...
1935
130, 212
117,224
155, 637
146, 669
87, 556
57, 311
31,115
44, 779
59, 810
68, 070
16, 156
14, 227
17, 091
14, 697
9,225
5.991
4,166
6.284
8,236
9,358
MISSISSIPPI
1926
1927 „
1928...
1929
1930 . .
1931
1932
1933 .
1934
1935
2,113
2,240
2,432
2,562
2,604
2,585
2.446
2,337
2,326
2,374
1,413
1,435
1,482
1,493
1,044
782
367
644
835
910
For footnotes, see p. 99.
78019—38
7
253, 964
236, 058
257, 632
266, 681
143, 578
83, 099
25, 779
71,080
119, 709
132,141
13,166
12,176
12, 700
13, 737
5,999
3,485
1,128
2,856
4,670
6,015
1.435
1,242
1,066
1,131
512
267
133
391
639
827
94
STATISTICS OF INCOME
TABLE 8.—Corporations, 1926—85, by States and Territories: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income l—Continued
[Money figures in thousands of dollars]
Total
number of Numreturns 2 ber
Year
Returns with net income
Gross
income 3
Net
income
Returns with no net income
Income
tax
Excess- Numprofits ber s
tax*
Gross
income 3
Deficit
MISSOURI
1926
1927
1928
1929
1930
16,145
16 370
16, 751
17, 223
17,106
16, 767
16, 373
15, 594
15.835
15, 906
.
1932
1933_
1934__
1935. .
9,160
9,017
9,137
9,146
7,411
5, 723
3,140
4,014
4,879
5, 305
3, 783,126
3, 441, 649
3, 724,876
3, 796, 258
2, 574, 540
1,462,835
986, 399
1, 478, 323
2,018, 558
2,084, 450
267. 510
239, 671
256, 781
262. 695
162, 446
101, 315
78, 524
100,036
142,801
134, 044
33. 948
30. 281
27. 953
26, 786
17,748
10, 872
10, 554
13,796
19, 661
18,431
186
256
402
6,985
5, 627
5, 711
6,068
7,691
9,107
11, 243
9,769
9,151
8,768
704,211
970, 500
766,051
862,061
1, 275, 416
1, 573. 324
1, 365, 961
976, 015
939, 236
1,134,084
51,022"
66,960
60, 573
65, 538
103,086
185,867
184, 323
151, 477
132, 843
126, 280
7
28
54
2 180
983
960
1,070
1, 454
1,729
2,153
1,938
1,647
1,524
63, 611
48,014
46, 558
47.886
72, 374
68,003
71,612
59, 639
46, 340
50,810
6,643
9,343
5,483
6,770
10 629
17,489
11, 790
7, 595
8.047
5,632
18
54
71
1,779
1,296
1,251
1, 352
1,705
2, 355
3,308
2,844
2,784
2,459
127, 779
120, 555
153,126
137, 689
180,543
204,894
236, 421
168,021
136,803
152,093
10,178
9,462
10,356
17, 306
15,628
21,10S
27, 803
21, 783
17,823
12, 950
13
18
17
643
253
281
315
4C1
410
542
502
493
474
12, 557
11, 550
10,008
11,935
24,508
19, 490
26, 225
26,832
33, 599
24, 710
3,077
3,412
4,602
4, 330
5,845
4,777
6.021
15,992
4, 656
2,039
13
8
28
468
399
466
477
621
687
934
943
865
879
81, 240
48, 475
80, 241
59, 075
94, 389
80. 675
72, 788
67, 653
73,149
70, 422
8, 052'
6, 099
11,104
4, 782
11, 647
8,733
10, 577
7,488
6,141
MONTANA
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935__
_
3,866
4,020
3,708
3,585
3, 350
3,201
3,044
2, 933
2, 967
2,978
1, 686
1, 837
1, 933
1,822
1,419
1,099
529
630
937
1, 053
162, 015
194, 574
213,196
190,321
116,180
78, 928
33. 989
50, 459
116,143
159, 290
13,937
13, 312
14, 643
11,942
5.582
3.286
1,048
2, 036
5, 520
8,622
1,520
1,361
1,249
941
379
251
121
279
759
1,186
NEBRASKA
1926
1927
1928
1929
1930
1931
1932
1933__
1934
1935
4,594
4,716
4,836
4, 725
4,786
4,860
4,694
4,473
4,611
4,494
2, 815
2,958
3, 060
2,969
2, 708
2, 071
958
1,180
1,379
1,613
607,
667,
653,
646,
515,
303,
133,
216,
342,
334,
508
in
414
677
094
124
907
265
666
27, 498
26, 750
30, 624
30,079
21, 996
12, 648
7,138
9,813
19, 905
15, 994
3.122
2,982
2,882
2. 662
2, 043
1,087
948
1,360
2.737
2,198
NEVADA
1926
1927
1928
1929
1930_ . . .
1931
1932 _.
1933
1934___
1935
.
969
874
1,026
1,033
1,022
997
938
888
956
968
326
314
353
351
309
301
108
106
195
227
67, 879
108, 219
150. 590
252, 796
241,956
358,248
254, 427
246, 211
133, 357
176, 435
2,881
4,109
6, 963
9,771
5, 547
6, 840
6,462
6, 727
3,403
3,213
316
487
736
971
595
754
896
953
468
442
NEW HAMPSHIRE
1926
1927.__.
1928
1929 ._.
1930
1931
1932
1933
1934 .
1935_
..
.
1,183
1,227
1 322
1, 349
1,396
1,345
1, 333
1,412
1,472
1,464
715
754
767
803
707
587
329
400
509
523
For footnotes, see p. 99.
147,800
149,966
153. 633
152, 699
112,734
73, 756
47, 479
75, 778
105,102
112,329
9.293
11,148
11, 398
11, 948
7,455
4,166
2, 151
5,005
7,760
7, 074
1,065
1.240
1,168
1,117
720
362
277
689
1, 066
973
5, 246
95
STATISTICS OF IXCOME
TABLE 8.—Corporations, 1926-35, by States and Territories: number of returnsy
gross income, net income or deficit, income tax, and excess-profits tax, for returns
ir^-iih net income and. with, no n.pf. income 1—-Continued
with mat jwrn'mp and with n.n net i.n.n.nrn.p. 1—Oontinufifl
[Money figures in thousands of dollars]
Returns with no net income
Returns with net income
Total
number of 2 Numreturns
ber
Year
Gross
income 3
Net
income
Income
tax
Excess- Numprofits ber ^
tax*
Gross
income 3
Deficit
NEW JERSEY
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
. .
17,480
19,143
20, 509
21, 885
22,489
22, 967
23, 278
23,902
25, 383
26,354
10,413
10, 783
11,310
11, 646
9. 945
8,449
3,128
3,599
4,747
5,670
342,090
349, 484
376, 247
444, 895
224, 871
157, 129
106, 566
125, 456
167,161
180, 725
4,105,
4, 393,
3, 607,
3, 748,
2, 484,
1, 745,
996,
1, 236,
1, 785,
2,011,
NEW
1,108
1,019
1,103
1,126
1,136
1,172
1,197
1,132
1,181
1,133
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
471
495
541
558
491
375
188
241
347
387
57,108
61, 856
70,297
66,999
49, 579
29,711
12,157
24, 325
41, 407
46, 644
42,830
43, 337
41.171
45, 680
24, 075
16, 813
14,037
17, 395
23, 036
24,868
154
135
374
7,067
6 863
7, 605
8,458
10,711
12, 515
17,955
17,972
18,104
18, 286
6
14
17
637
283
282
300
430
558
738
656
596
532
701,615 j
808,805 |
782,487
955,695 I
1, 405, 281
1, 794, 189
1, 776,135
1, 551, 898
1, 393, 616
1, 504, 629
67, 55!
83,002
85, 635
136, 749
238, 326
441,477
359, 855
315, 246
194, 846
175, 382
MEXICO
3,708
3, 998
4,621
4, 320
2, 455
1,247
'412
1,117
2, 059
2, 151
3%
418
415
354
179
68
47
154
283
296
15, 787
16, 840
17, 357
17, 762
27, 216
29,180
32, 497
20, 541
20,127
19,112
NEW YORK
1926...
1927
1928
1929
1930
1931
1932
1933
1934 ______
1935
89, 617
96,949
103,372
107, 300
111, 100
110,851
109,931
110,436
118,941
120,619
51, 424
53,051
55, 008
55, 304
47, 674
39, 271
15, 599
18, 922
24, 318
27,180 i
29. 722,073
31^ 285,699
34, 937, 638
36, 812,023
1
27,482, 351
15. 113, 394
9, 660,469
13, 241, 667
16,088,093
19, 634, 755
3,686
3,688
3,462
3,009
2,161
1,819
1,080
2,049
2,576
2,780
1, 212,142
1, 340, 347
1, 225, 830
1,149,185
732, 451
673, 646
464, 287
690, 554
849, 384
941, 677
2, 770, 885 356,409
2, 545, 507 324, 573
3, 248, 916 367, 733
3, 646, 922 3S3,110
2, 091, 540 238,010
1, 216, 637 135, 402
94, 739
700, 156
116, 743
831,980
164, 073
1,191,532
1, 447,030 199,007
6,084, 458
517,071
7,054, 365
576, 625
6,116,345
573, 652
7,901,545
854, 292
12,011,326 | 1,355,500
16,194. 996 1, 918, 459
14, 191, 558 2,185, 749
38,193
36,108
40,062
43,865
54, 627
62, 639
85, 234
1, 578 81,811
1,720 83, 689
3,881 82, 871
10, 691, 022
11, 552, 650
10, 925, 741
1, 672, 41)3
1, 236. 092
994,641
2,764
2,308
2,667
3,011
3,732
3,803
4,241
3, 2G6
2,920
2,874
252, 488
190,775
261, 057
298,035
471, 227
381,167
345, 791
215, 406
272, 761
306, 982
22, 013
16,413
20, 784
25, 344
36. 859
40,107
51,134
22, 367
26, 202
22,114
N O R T H CAROLINA
6,450
6,501
6, 689
6,570
6,544
6,219
5,802
5,835
5,900
6,019
1926.
1927
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
102, 879
114, 607
96, 562
104, 314
73,172
71,193
62, 687
54, 459
65, 566
70, 243
13,017
14,147
10, 770
10,863
8,334
8,148
8,565
7,482
9, 015
9, 657
154
110
159
NORTH DAKOTA
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
..
3,445
3,471
3, 528
3, 425
3, 574
3, 548
3, 239
2,938
2, 885
2,752
1, 552
1, 695
1,737
1 467
1,183
826
487
649
785
726
For footnotes, see p. 99.
131, 654
160,229
160, 651
121 487
88, 446
44, 313
26 754
47, 845
60, 952
67, 840
6,574
5, 412
5, 638
4 538
2,721
1, 651
827
1, 267
2, 0S3
2, 236
422
399
321
251
133
94
174
23?)
308
1,893
943
972
1 085
1, 458
1.735
1 910
4
12
24
1, 454
1,463
49,
35.
44,
44
59,
53,
52
38,
34,
41,
804
829
525
399
910
623
553
306
305
558
4,805
3,150
3, 220
3, 845
4, 533
6, 53:>
6, 59 f>
4,419
4, 335
3, 047
96
STATISTICS OF IXCOME
TABLE 8.—Corporations, 1926-35, by States and Territories: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income l—Continued
[Money figures in thousands of dollars]
Total
number of 2 Numreturns
ber
Year
Returns with net income
Gross
income 3
Net
income
Income
tax
Returns with no net income
Excess- Numprofits ber s
tax *
Gross
income s
Deficit
OHIO
23, 475
24, 305
24, 722
25,173
25,459
25, 462
24,919
24, 823
26,151
26, 664
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
14, 266
14,020
14, 344
14, 299
10, 676
8,318
3,969
5,859
8,471
9,963
7,211,098
6,673,416
7, 557, 768
7, 879, 661
4,901, 729
2,910,398
1, 746, 586
2, 559, 005
3,812, 172
4,991,567
66, 541
63. 487
64, 776
71, 393
33, 041
18, 223
15, 124
24, 323
35, 804
44, 650
530,119
505, 740
589,966
687, 231
301, 339
170, 378
114,481
175,811
259,674
324, 748
428
525
1,518
9,209
8,901
8,942
9,515
13, 365
15, 457
19, 399
17, 287
16, 067
14,973
1, 469, 759
1, 741, 695
1, 339, 516
1, 705, 020
2, 704,950
3,071,048
2, 727,030
2, 200, 416
2,179, 222
1,842,111
113,122
132, 172
123, 830
153, 561
250, 365
391,052
478, 597
348, 579
200, 337
151,732
125
139
330
2,536
2,090
2,177
2,169
3,073
4, 054
4,369
3,892
3,563
3,375
402,181
366,858
293, 740
336, 547
702, 725
591,717
500,309
492, 528
641, 305
500, 882
32,928
45, 641
36, 289
28, 448
69, 418
119,879
83,668
62, 469
47, 637
39, 216
3,141
2,172
2,232
2.345
2,979
3,467
4,336
3,861
3,481
3,208
197, 205
210, 568
204, 219
206, 520
287, 066
311,467
280,190
205, 485
226, 652
212, 128
21, 240
21, 736
18,904
20, 410
37,439
43, 979
51,924
37, 095
23,080
22,138
10, 353
9,330
9, 665
9,795
12, 549
15,183
19,143
17, 462
17, 255
16, 416
1, 730, 696
2, 284, 379
2,151,155
1,909, 570
3, 235, 599
5. 010, 370
4, 092,190
3, 259, 577
3, 570, 752
3, 519,121
150,307
188, 397
181, 313
193, 501
316, 422
476, 652
567, 085
409,019
319,758
248, 056
1,198
947
1,000
1,067
1,450
1,655
2,327
2,143
2,249
2, 197
252,858
160, 030
187, 610
231, 893
370, 685
373, 103
347, 445
217, 066
312, 195
270, 891
22, 640
16,193
15,107
19, 731
57, 783
55, 367
62, 012
37, 079
36, 952
36, 755
OKLAHOMA
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
5,835
6,132
6,456
6,671
6,944
6,558
6,092
5,975
6,060
6,073
3,299
3,271
3, 512
3,649
2,948
1,717
1,030
1, 396
1,834
2,063
1926
1927
1928
1929
1930
1931
1932 ,
1933
1934
1935
6,144
6,350
6, 673
6,863
7,012
6,880
6,446
6,247
6,093
5, 813
3,003
3,028
3,131
3,105
2,590
1,910
779
1,058
1.427
1,702
84, 301
56, 608
79,233
105, 607
71,297
20.911
20,218
27, 059
49, 076
61,861
915,
804,
975,
1, 047,
519,
205,
166,
254,
474,
745,
10, 327
6,368
8,124
9,795
7,739
2,171
2,611
3,716
6,747
8,506
OREGON
_ .
503, 667
486, 618
512, 332
579,209
430, 249
220,112
83, 397
177, 766
242, 517
327, 687
23, 694
29, 385
30, 027
17,010
8,936
3.055
5,448
9,235
13, 830
2,995
2,494
2,737
2,601
1,517
768
371
757
1, 269
1,901
PENNSYLVANIA
1926
1927 _
1928
1929
1930
1931
1932
1933 .
1934
1935
24,173
24, 883
25, 558
26, 357
26, 577
26,448
26,800
26, 665
28, 646
28,284
13,820
13,193
13, 370
13,880
11,254
8,452
4,546
6,107
8,104
8,949
10,157,118
941,819
9.986, 472
806,494
10,209,117
905, 715
10, 843, 235 1, 060, 023
7, 562, 032
565. 536
249,231
3, 227, 380
164, 050
2, 072, 786
225, 937
3,028,214
330, 524
4,322,117
349,627
4, 971,903
122, 361
104, 135
104, 000
112,113
64, 380
27, 371
21,983
31, 554
45, 409
48, 072
566
481
1,159
RHODE ISLAND
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
2,566
2,688
2,871
2,964
3,068
3,127
3,134
3,272
3,504
3,577
1,368
1,536
1, 628
1,650
1,370
1,217
562
846
947
1,071
For footnotes, see p. 99.
616,015
735, 728
691, 950
683,002
380, 338
265, 321
127, 045
314, 510
293, 303
411,535
43. :>96
49, 046
51, 732
54, 487
23, 345
18,184
9,290
22, 401
20, 307
25, 398
5,477
5, 791
5,585
5,504
2,677
1,887
1,147
3,093
2,792
3,492
97
STATISTICS OF INCOME
TABLE 8.—Corporations, 1926-35, hy States and Territories: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income l—Continued
[Money figures in thousands of dollars
Year
Returns with net income
Total
number of 2 Numreturns
ber
Gross
income 3
Net
income
SOUTH
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
.
3,822
3,713
3,817
3,759
3, 626
3,610
3,404
3,245
3, 322
3, 447
341, 241
404, 553
328, 582
299,809
147,121
114,668
82, 521
224, 948
263,916
275, 669
1,768
1,768
1,710
1,597
1, 229
980
511
1,078
1,334
1,394
Returns with no net income
Income
tax
Excess- Numprofits ber 5
tax *
Gross
income 3
Deficit
CAROLINA
15, 325
24,791
17, 816
16,161
6.281
6, 084
3,448
15. 727
14, 109
11,774
1,693
2,694
1,804
2,054
1, 548
1,709
1,775
2,031
2,244
2,511
1,871
1,704
1, 794
168,970
106, 947
156, 705
194,994
224, 452
196, 589
153,147
91,936
111,456
134, 764
257
387
394
395
294
118
84
137
239
303
1,518
704
677
816
998
1,361
1, 900
1,734
1,543
1.421
42, 861
28,127
30, 633
49, 669
55, 074
60,017
58, 561
42, 343
40, 813
38,937
8,177
7, 405
7,039
5, 744
3, 364
2,274
1, 700
3,371
3,920
4,557
96
92
175
1,908
1,577
1,747
1,852
2,483
3,007
3,678
3,179
2, 858
2,814
366
340
549
4, 717
4,353
4,761
5, 243
7, 362
8,582
10, 653
9,296
8,649
8.373
1, 464
525
539
433
2, 130
1,940
1, 619
12, 468
8,612
9,368
11,463
25, 630
18,419
20, 668
14.064
9,154
7, 408
SOUTH DAKOTA
1926.
1927_
1928.
1929.
1930.
1931_
1932.
1933.
1934.
1935.
2,872
3,008
2,954
3,071
3,127
3.132
3,023
2,876
2,811
2,699
1,354
1,665
1, 712
1,685
1,514
1, 093
473
509
692
755
87,879
151,272
154,811
140,322
107, 590
55, 099
26, 226
36,871
56, 905
74,962
3, 437
5,230
6, 230
6, 296
4,846
2,241
699
1,004
1,735
2. 206
3,927
2,894
2, 337
2,784
3,441
5, 022
5,853
4,016
4, 274
3,145
TENNESSEE
1926.
1927.
1928.
1929.
1930.
1931.
1932
1933.
1934
1935.
4,955
5,039
5,213
5,338
5,408
5,312
5,199
5,215
5, 239
5, 359
1, 005, 290
1, 039, 656
962, 458
902, 047
570, 822
362, 762
221, 451
414. 280
527, 991
618,005
3,047
3,054
3,039
3,032
2,463
1,832
1,010
1,510
1, 968
2,128
66, 926
61, 403
65, 893
59, 533
33,117
22, 969
12, 997
24, 473
28.511
33, 141
17,421
18, 545
18,069
24, 702
46, 888
45, 252
42, 422
29, 553
23, 960
18, 223
TEXAS
1926
1927 ._
1928 . . . .
1929
1930
1931
1932 ._
1933 .
1934
1935
11 970
12, 930
14,238
14, 552
15,431
15, 225
15,154
15, 168
15, 582
15. 675
2, 728, 745
2, 315, 682
2, 452,987
2, 420, 433
1, 593,901
816, 758
730,901
1, 057, 647
1, 389, 776
1,920,227
7, 253
7,524
8,293
8,156
6, 660
5,216
2,982
4,198
5,343
5,772
199, 525
142, 338
173,980
189,132
97, 054
45, 981
40, 858
57. 596
92, 504
103,850
24, 863
17, 051
18,441
18, 193
9, 739
4,311
4, 713
7,968
12, 721
14, 301
473,996
567, 896
786,169
685, 770
934, 254
1,098, 435
812,817
578, 827
868, 403
719, 347
52, 191
57, 303
68, 852
66,899
106, 851
152, 978
156, 413
106. 726
108, 099
75, 325
UTAH
i
1926.
1927.
1928.
1929.
1930.
1931
1932.
1933.
1934.
1935.
3,083
3,125
3,508
3,245
3,301
3,135
2,901
2,923
2,902
2,842
1,
1,
1.
1,
1,
537
589
712
646
392
977
419
615
802
901
For footnotes, see p. 99.
264,983
279,069
290,146
288, 739
199, 849
100, 564
29, 847
98, 744
151,093
173, 666
18, 566
17,179
20, 363
19,933
11,323
5, 056
1,573
5,387
7, 606
9.358
2,183
1,952
2,004
1,814
1, 055
426
206
741
1,043
1,287
1,546
913
932
888
1,173
1,516
1,909
1,688
1,550
1,451
99, 779
79, 433
79, 898
83, 235
121,243
139, 229
140, 058
90,107
80, 449
79, 437
9,637
8,751
8,582
14, 325
18,046
18, 527
14,025
9,991
7, 096
98
STATISTICS OF INCOME
TABLE 8.—Corporations, 1926-35, by States and Territories: number of returnsy
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income 1—Continued
[Money figures in thousands of dollars.
Total
number of Numreturns • ber
Year
Returns with no net income
Returns with net income
Gross
income 3
Net
income
Income
tax
Excess- Numprofits ber*
tax*
Gross
income 3
Deficit
VERMONT
1926
1927
1928..
1929.
1930
1931
1932
1933
1934—_
1935
_
1,096
1,089
1,112
1,120
1,120
1,169
1,174
1,184
1,244
1,241
699
683
724
704
572
420
221
291
404
413
145. 614
153, 168
156,048
142. 257
99, 924
51,468
25, 752
44, 715
65, 284
81, 531
10.429
9,927
10, 314
10, 255
' 5. 287
1, 933
1,210
2,273
4,005
4,787
1, 230
1, 164
1,038
963
491
155
158
308
551
658
397
348
342
357
492
693
899
826
767
757
45, 470
42, 861
42, 212
55,113
52, 244
72, 214
71,086
48, 924
49, 680
53, 377
4,178
5,571
4,598
9, 642
6,215
7,792
10,090
5, 898
4,890
4,733
2,563
2,137
2, 337
2,613
3,185
3,661
4,765
4,211
3,794
3,639
202, 865
267, 002
245, 296
294,173
370, 505
375,118
360,176
266, 697
230, 031
247,877
17, 389
22, 531
18, 790
22, 535
44, 414
50, 870
62, 779
62, 341
36, 450
39, 703
55
100
196
5,443
3,748
3,799
4,058
5,306
6.388
8,150
7,206
6,483
6,196
365, 543
348, 219
288, 353
397, 561
602, 964
592, 111
499,153
401, 664
339, 317
313, 667
33,503
33, 997
31, 004
31, 684
57,351
83, 323
85, 440
50,907
36, 830
31, 598
32
52
135
2,142
1,825
1,910
1, 843
2,108
2,508
3,344
2,831
2,525
2,328
151,149
173,152
170, 774
162, 244
203, 753
277, 974
258, 395
205, 260
187,118
152, 547
18,900
23, 073
19, 964
17, 258
21, 380
38,950
37, 569
26,105
16, 991
12, 825
155
154
294
5,574
4,172
4,681
5,079
7,234
9,067
11,176
10,147
9,177
8,600
392,410
437, 508
408, 788
449,131
730,197
904,477
829,237
531,140
614, 934
616, 960
36, 632
39, 756
45, 955
47,430
73, 340
109, 487
149, 785
88,324
69, 613
64,133
5
6
19
VIRGINIA
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
6,358
6,485
6, 785
7,168
7,139
7,071
6,915
6,815
6,893
6,876
3,795
3, 795
3,835
3,837
3,241
2, 730
1,490
1,930
2,542
2,742
1,112,614
1,013,815
1, 024, 668
1, 016, 915
847, 015
631. 485
?78, 009
502, 610
641, 816
697, 714
135, 859
123, 648
118,505
132, 956
110,675
76, 746
36, 692
43, 882
54, 682
56, 778
17,284
15, 770
13, 166
13, 794
12, 519
8.662
4,972
6, 080
7,519
7,807
113
WASHINGTON
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
10, 748
10, 977
11,847
12,159
12, 709
13,091
12, 328
11,472
11,457
11, 556
5,305
5,355
5,874
5,924
4,934
3,916
1, 654
2,128
2,903
3,141
1, 024,089
1,056, 761
1, 239,108
1,153,890
671, 962
357, 660
166, 579
293,411
510, 734
639, 526
63,301
62, 700
75,391
76, 230
31,492
17, 608
7,744
12,805
25, 764
32, 449
7, 286
7,222
7,419
6,986
2,686
1,397
954
1,768
3,537
4,462
WEST VIRGINIA
1926.
1927.
1928.
1929
1930.
1931.
1932.
1933.
1934.
1935.
5,142
5,239
5,145
5,173
5,101
4,953
4,807
4,554
4,662
4,543
3,000
2,928
2, 773
2,873
2,477
1,900
962
1,290
1,726
1,870
814, 966
702, 212
656, 932
700, 698
447,840
228,123
119, 373
223, 741
430, 706
510,002
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
13, 827
14,456
15, 393
15,836
16,009
16,311
16, 203
15, 852
15, 910
15,916
8,253
8,567
8,828
8,810
6,777
5,199
2,806
3,422
4,559
5,087
2, 268, 270
2. 232, 947
2, 347,121
2, 377, 121
1, 589,177
859, 406
391,493
718, 626
1, 025, 696
1, 273,028
76,152
57, G24
51, 923
59, 047
27, 487
16,445
7,915
17, 919
29, 008
34, 388
9,415
6,996
5,445
5, 757
2,647
1,586
1,039
2,465
3,987
4,728
WISCONSIN
For footnotes, see p. 99.
187, 044
185,418
184, 569
198, 398
103,140
50, 205
19, 848
37, 548
51, 209
62,182
23,193
23,118
20, 122
19, 928
10, 921
5,100
« 2, 602
5,201
7,042
8,552
99
STATISTICS OF INCOME
TABLE 8.—Corporations, 1926-35, by States and Territories: number of returns,
gross income, net income or deficit, income tax, and excess-profits tax, for returns
with net income and with no net income l—Continued
[Money figures in thousands of dollars]
Year
Total
number of 2 Numreturns
ber
Returns with net income
Gross
income 3
Net
income
Returns with no net income
Income
tax
Excess- Numprofits ber *
tax*
Gross
income *
Deficit
WYOMING
1926.
1927.
1928.
1929.
1930.
1931.
1932..
1933.
1934.
1935.
1,418
1,402
1, 441
1, 468
1,440
1,416
1,495
1,322
1,313
1,297
776
788
881
798
721
580
246
291
391
443
534
492
457
262
203
91
59
79
194
264
1
6
13
642
413
364
450
492
634
1, 039
879
787
715
19, 766
22, 990
16, 529
20, 787
22, 214
28, 814
35, 317
25,870
24, 769
23, 007
3,569
3,856
2, 678
3,691
3,991
4,874
6,350
4,715
5,105
1,794
1
Changes in the revenue acts affecting the comparability of statistical data from income tax returns of
corporations are summarized on pp. 101-105.
2
Includes returns showing no income data—inactive corporations.
3
Gross income corresponds to total income as reported on face of return, plus ''cost of goods sold" and
"cost of operations." For 1934 and 1935 interest on Liberty bonds, etc., has been deducted from gross income, as this item was not included in gross income for prior years.
4
The excess-profits tax for 1933 became effective June 30, 1933, under the tax provisions of the National
Industrial Recovery Act. Under the provisions of the Revenue Act of 1934, a small amount of excessprofits tax for 1934 and 1935 appears on returns with no net income for income-tax purposes. The credit for
interest received on certain obligations of the United States and its instrumentalities, which is allowed
against net income in the computation of the income tax, is not allowed against net income in the computation of the excess-profits tax. (See article 1 (d), Treasury Decision 4469, "Regulations relating to excess
profits tax imposed by section 702 of the Revenue Act of 1934.")
5
Prior to 1927, returns showing no income data—inactive corporations—were included with returns
showing no net ncome.
e For revised figures for 1928, see Statistics of Income for 1930, p. 238; for revised figures for 1930, see Statistics of Income for 1931, pp. 32 and 33; for revised figures for 1932, see Statistics of Income for 1933, p. 37.
REVENUE ACTS OF 1913-1934
AND CERTAIN TAX PROVISIONS OF THE
NATIONAL INDUSTRIAL RECOVERY ACT (1933)
ALSO THE SPECIAL EXCISE TAX UNDER
THE ACT OF AUGUST 5, 1909
A SYNOPSIS OF CORPORATION INCOME
AND PROFITS TAX RATES AND CREDITS AFFECTING
THE COMPARABILITY OF DATA IN
"STATISTICS OF INCOME"
101
102
STATISTICS OF INCOME
Corporation income and profits tax rates and credits, under jthe Revenue Acts
RecoverylAct (1933), also the special
Income tax
Income year
Revenue Act
1909 (excise tax) (Aug.
5, 1909).
1913 (Oct. 3, 1913)
1916 (Sept. 8, 1916)..
1909 through Feb.
28, 1913.
M a r . 1, 1913,
through Dec.
31, 1915.
1916
Specific
credit 2
$5,000
Taxable income i 5
Rate
(percent)
Net income in excess of specific creditAll net income
..do..
Dividends out of earnings Mar. 1,1913
through Dec. 31, 1915.
Net income in excess of the sum of (1)
excess-profits tax for the current year,
and (2) dividends received out of
earnings Mar. 1, 1913, through Dec.
31, 1915.
Net income in excess of the sum of (1)
excess-profits tax for the current year,
and (2) dividends received out of
earnings Mar. 1, 1913, through Dec.
31, 1917.
1916 as amended and
1917 (Oct. 3, 1917).
1917..
1918 (Feb. 24, 1919)
1918
2,000
Net income in excess of the sum of (1)
the specific credit, (2) excess-profits
and war-profits taxes for current
year, and (3) interest received on
United States obligations issued after
Sept. 1, 1917.
12
1919, 1920..
2,000
10
1921
1922,1923..
1924
1925
1926, 1927..
1928
1929
1930
1931
1932, 1933..
1933
2,000
2,000
2,000
2,000
2,000
3,000
3,000
3,000
3,000
Net income in excess of the sum of (1)
the specific credit, (2) excess-profits
tax for current year, (3) excess-profits
and war-profits taxes on income from
Government contracts, (4) interest
received on United States obligations issued after Sept. 1, 1917, and
(5) War Finance Corporation bonds
not exempt,
.do.
Net income in excess of specific credit !
do
do
..do..
.do.,
.do .
-do.,
.do..
1921 (Nov. 23,1921)..
1924 (June 2, 1924)..
1926 (Feb. 26, 1926).
1928 (May 29, 1928).
1932 (June 6, 1932)
National Industrial Recovery Act (June 16,
1933).17
1934 (May 10, 1934)
1934, 1935..
All net income n_
10
13 13
i* 11
12
12
i« 133,
do."-.
1
All corporations are required to file returns regardless of amount of net income or loss, except those
exempted by specific provisions of the Law. Under the Revenue Act of 1909, corporations were required to
file returns on a calendar year basis; under subsequent revenue acts corporations were permitted to file
returns on a fiscal year basis, other than that ending Dec. 31, except that under the Act of 1921 and subsequent acts life insurance companies are required to file on a calendar year basis in accordance with the
State laws regulating insurance companies. Foreign corporations are required to file income tax returns
for all income from sources within the United States, regardless of amount. From Jan. 1, 1918 through
Dec. 31,1921, personal service corporations were treated as partnerships. Prior and subsequent to said dates
such corporations were taxed as other corporations. For 1934 and subsequent years, personal holding companies (as defined in sec. 351 (b), Revenue Act of 1934) are required to file returns for surtax, in addition to
the corporation returns for income and excess profits tax. (For rates, see following page.)
2 Specific credit allowable to domestic corporations with net income of $25,000 or less, 1921 through 1931,.
except domestic corporations deriving a large portion of their gross income from sources within a possession
of the United States, 1928 and subsequent years; not allowable to foreign corporations, 1918 and subsequent
years.
For footnotes 3-19, see pp. 104-105.
103
STATISTICS OF INCOME
x
of 1913 through 1934 and certain tax provisions of the National
excise tax under the Act of August 5, 1909
Excess-profits tax s
Taxable income 4 5
Credit
Rate
(percent)
Net income equal to 15 per
$3,000 6 plus: An amount equal to the
cent of invested capital
same percentage of invested capital 7
less credit.
for the taxable year as the average Net income in excess of 15
annual pre-war income was of prepercent but not in excess
war invested capital (not less than
of 20 percent of invested
7 percent nor more than 9 percent);
capital.
or if corporation was not in existence Net income in excess of 20
during at least 1 whole year of the { percent but not in expre-war period, 8 percent of invested ] cess of 25 percent of incapital for taxable year; or if during
vested capital.
pre-war period, corporation had Net income in excess of 25
either no net income or a very small
percent but not in exnet income or if invested capital can
cess of 33 percent of innot be determined, same percent as
vested capital.
that of representative corporations. Net income in excess of 33
percent of invested cap(See sec. 210, Revenue Act of 1917.)
ital.
$3,000 6 plus 8 percent of the invested
capital7 for the taxable year.3
do
i
1
do.9
i::::: „ —
•
—-
f 12^2 percent of adjusted
\ value of capital stock.
—
declared
do
60
Net income equal to 20 percent of invested capital
less credit.
Net income in excess of 20
percent of invested capital.
30
20
Amount paid or accrued.9
65
Do.s
40
Do i°
Do .u
Do
Do.
Do,
Do,
Do,
Do.
Do. 6
Do.i
do
Net income in excess of
credit.
J
do.
Tax cred it for income and
profits taxes paid to
foreign countries or
United States possessions
For 1917 and prior years,
income and profits tax20
es paid to foreign countries or United States
possessions were not
25
allowed as tax credit,
> but were included in
general d e d u c t i o n s
from gross income, ex35
cept that taxes paid to
foreign countries were
not allowed to foreign
corporations.
45
Net income eoual to 20 percent of invested capital
less credit.
Net income in excess of 20
percent, of invested capital.
.
Industrial
18
5
5 Amount paid or accrued.18
Surtax rates for 'personal holding companies
Income year
Revenue Act
1934_
_
1934, 1935
Taxable income: Undistributed adjusted net
income
Less than or equaling
Exceeding
$100,000
100,000
Rate '1
(percent)
fc 30
40
104
S T A T I S T I C S OF
INCOME
Corporation income and profits tax rates and credits, under the Revenue Acts
Recovery Act (1933), also the special excise
War-profits tax 3
Revenue Act
1918 (Feb. 24, 1919)
Income
year
1918
Credit
Taxable
income
Rate
(percent)
$3,000 6 plus either an amount equal to
the average pre-war net income plus
or minus 10 percent of the increase or
decrease of invested capital 7 for the
taxable year as compared with average pre-war invested capital, or 10
percent of the invested capital for
the taxable year, whichever is
greater.19
Net income
in excess
of w a r profits
credits.
80 ( l e s s
amount
of e x cessprofits
tax).
For footnote 1, see p. 102.
For the years 1918 through 1921, the war-profits and excess-profits tax of foreign corporations, and for
1921 the war-profits and excess-profits tax of corporations deriving a large portion of their gross income from
sources Twithin a possession of the United States, is computed by comparison with representative corporations w hose invested capital can be satisfactorily determined and which are engaged in a like or similar
trade or business and similarly circumstanced. (See sec. 328, Revenue Acts of 1918 and 1921.) (See note 7.)
4
For the years 1917 through 1921,the amount of excess-profits tax (and for 1918 through 1921, the war-profits
tax) was allowed as a credit in arriving at the net income subject to income tax; for 1933 through 1935, no
credit was allowed for excess-profits tax in arriving at net income subject to income tax, nor was a credit
allowed for income tax in computing at net income subject to excess-profits tax.
5
Net income means "statutory" net income, i. e., the excess of gross income over deductions as defined in
the various revenue acts. Foreign corporations report only income from sources within the United States;
for 1921 and subsequent years domestic corporations deriving a large portion of their gross income from
sources within a possession of the United States report only income from sources within the United States, or
income from sources within or without the United States, received within the United States. (See sec. 262
of the Revenue Acts of 192L 1924, and 1926 and sec. 251 of the Revenue Act of 1928 and subsequent acts.)
Net income has been adjusted from time to time as follows:
(a) Amortization of buildings, machinery, equipment, or other facilities constructed or acquired on or
•after April 6, 1917, for the production of articles contributing to the prosecution of the war, is included to a
reasonable amount in business deductions, 1918 through 1921.
(6) Dividends on stock of all corporations liable to the tax imposed by the Revenue Acts of 1909,1917, and
1918 are deductible; under the Revenue Acts of 1913 and 1916, dividends were not deductible. Under the
Revenue Acts of 1921 through 1932, dividends on stock of domestic corporations (other than (1) those deriving
a large portion of their gross income from sources within a possession of the United States, 1921 and subsequent years, (2) China Trade Act Corporations, 1922 and subsequent years, and (3) corporations exempt
from tax, 1932 and subsequent years) as well as dividends on stock of foreign corporations receiving a certain
amount of income from sources within the United States, are deductible. (Such deductible dividends are
not included in the amount of gross income shown in "Statistics of Income" for 1918 due to the fact that on
the return these dividends were designated as nontaxable income.) Under the Revenue Act of 1934, dividends on stock of domestic corporations (other than (1), (2), and (3) above) are deductible, but dividends on
stock of foreign corporations are not deductible. For deduction of dividends paid on preferred stock, by
certain incorporated banks and insurance companies, to the United States, or to any instrumentality thereof
which is exempt from Federal income taxation, see section 121 of the Revenue Act of 1934, which section was
added by Public, No. 374, 74th Congress.
(c) Losses sustained during a taxable year and not compensated for by insurance or otherwise, are entirely
deductible, except that for 1932 and 1933 losses from sales or exchanges of stocks or bonds (other than capital
assets and other than bonds issued by a government or political subdivision thereof) are allowed only to
the extent of the gains from such sales or exchanges. The Revenue Act of 1932 provides that any excess
loss thus disallowed, computed without regard to any losses sustained during the preceding taxable year,
is, to an amount not in excess of the taxpayer's net income for the taxable year, considered as loss sustained
in the succeeding taxable year from sales or exchanges of stocks or bonds other than capital assets. The
limitation on the deduction of losses from sales or exchanges of stocks or bonds does not apply to dealers in
securities banks, or trust companies. (See sec. 23 (r), Revenue Act of 1932.) However, section 218 (b) of
the National Industrial Recovery Act repeals, effective as of Jan. 1,1933, section 23 (r) (2) of the Revenue Act
of 1932, thereby limiting the application of losses from the sale or exchange of stocks or bonds (other than
capital assets) to gains from similar transactions during the same taxable year and prohibiting the carrying
forward and application of such losses to gains from similar transactions in the succeeding taxable year. By
the Revenue Act of 1934, the definition of capital assets is broadened to include all property held by the taxpayer, whether or not connected with trade or business, regardless of period held, except stock in trade,
property which would be included in inventory, or property held for sale in ordinary course of business or
trade. For 1934 and subsequent years, corporations are permitted to deduct capital losses to the extent of
$2,000 after subtracting the amount of capital gains (such deduction not to exceed the actual net capital loss),
except that this limitation does not apply to losses sustained by certain banks and trust companies on the
sale of certain bonds, etc. (See sec. 117 (d), Revenue Act of 1934.)
(d) Net loss for prior year resulting from the operation of any trade or business regularly carried on by the
taxpayer: In the case of a net loss for any taxable year beginning after Oct. 31, 1918, and ending prior to Jan.
1, 1920, the Revenue Act of 1918 provides for the deduction of such loss from the net income of the preceding
year, a redetermination of taxes for the preceding year being made. When the net loss exceeds the net
income for the preceding year the amount of such excess is to be deducted from the net income of the succeeding taxable year. The Revenue Acts of 1921 through 1928 provide that net loss in any year beginning
after Dec. 31, 1920, may be deducted from the net income of the succeeding taxable year, and if such net loss
exceeds the net income for the succeeding year, the amount of such excess is to be allowed in the next succeeding year. The Revenue Act of 1932 provides that a net loss for the year 1930 or 1931 shall be allowed as a
deduction in computing net income for one succeeding taxable year only. However, section 218 (a) of the
National Industrial Recovery Act repeals, effective as of Jan. 1, 1933, sections 23 (i) and 117 of the Revenue
Act of 1932, thereby removing the privilege of deducting from the net income for the current taxable year a
net loss for the preceding taxable year. There is no provision in the Revenue Act of 1934 for deduction of
net loss for prior year.
3
105
STATISTICS OF INCOME
of 1913 through 1984, and certain tax provisions of the National Industrial
tax under the Act of August 5, 1909—Continued
Tax on income from Government contracts
Revenue Act
Taxable income
Rate (percent)
Total amount of net income derived from Government contracts made between Apr. 6,
1917, and Nov. 11, 1918, if in
excess of $10,000.
Excess-profits and warprofits tax rates of
Revenue Act of 1918,
as limited bv sec.
301 (c).
Income year
1918 (Feb. 24, 1919)
1919, 1920
1921 (Nov. 23, 1921).
1921
do
Do.
(e) For insurance companies, see special provisions in the various revenue acts.
« The $3,000 credit not allowable to foreign corporations.
" Invested capital within the meaning of the statute is the capital actually paid in to the corporation by
the stockholders, plus the earned surplus and/or undivided profits (exclusive of profits for the current year)
and exclusive of inadmissible assets as defined in the revenue acts. (See sec. 207, Revenue Act of 1917, and
sees. 325 and 326, Revenue Act of 1918.) For 1917, foreign corporations reported that proportion of invested
capital which net income from sources within the United States was of the entire net income. For the years
1918 through 1921, it was not necessary for foreign corporations to report invested capital, and for the year 1921
it was not necessary for corporations deriving a large portion of their gross income from sources within a
possession of the United States to report invested capital. (See note 3.)
s Foreign corporations were not allowed to deduct income taxes paid to foreign countries either as a tax.
credit or in general deductions for the years 1918, 1919, and 1920.
9
The $3,000 credit not allowable to domestic corporations deriving a large portion of their gross income from
sources within a possession of the United States.
10
Beginning with 1921, the credit cannot exceed the proportion of the total tax against which the credit is
taken, that the taxpayer's net income from sources without the United States bears to the entire net income.
This credit does not apply to foreign corporations or to domestic corporations deriving a large portion of their
gross income from sources within a possession of the United States, but to such corporations these taxes are
allowable as a deduction from gross income if imposed upon income from sources within the United States.
For the years 1921 through 1931 the amount of income and profits taxes paid to foreign countries or United
States possessions in excess of that deducted as a tax credit is permitted to be included in deductions
against gross income. (See note 16.)
!1
For 1922 and subsequent years, corporations are allowed, as a credit against net income for income tax
purposes, the amount received as interest upon obligations of the United States which is required to be included in gross income (e. g., see sec. 236 (a) ,Revenue Act of 1924). For 1922 and subsequent years China
Trade Act corporations are entitled to a specific credit. (See sec. 264 (a), China Trade Act, 1922.)
1 Not allowable to China Trade Act corporations for 1922 and subsequent years.
2
13
Income of domestic insurance companies, exclusive of mutual companies other than life, taxable at 12H
percent.
u See joint resolution of Congress No. 133, approved by the President Dec. 16, 1929, reducing rates of
income tax for 1929.
is The rate of tax on consolidated returns for 1932 and 1933 is 14H percent, except for returns with fiscal year
ended in 1934 on which the tax attributable to 1934 is at the rate of 14% percent. (See sec. 218 (e), National
Industrial Recovery Act.) The rate of tax on consolidated returns with year beginning on, or after January 1, 1934 is 15% percent. Under the Revenue Act of 1934, only railroad corporations are permitted to file
consolidated returns.
!6
For 1932 and subsequent years, the taxpayer may elect to credit the income and profits taxes paid toforeign countries or United States possessions (with certain limitations) against the income tax liability to
the United States, or to include the entire amount of such taxes in deductions against gross income. (Seesees. 131 and 23 (c), (2), Revenue Acts of 1932, and 1934.)
17
See note 5 (c) and (d) and note 15.
18
For 1934 and subsequent years, interest on Liberty Bonds, etc., which is required to be included in gross
income, is included in net income for excess profits tax computation. (See note 11.)
i» If corporation was not in existence during the whole of at least one calendar year during the pre-war
period, the credit (with certain exceptions) shall be the sum of $3,000 and an amount equal to the same
percentage of invested capital for the taxable year as the average percentage of net income to invested capital
for the pre-war period of representative corporations, but such amount shall in no case be less than 10 percent
of the invested capital of the taxpayer for the taxable year. (See sec. 311, Revenue Act of 1918.)
NOTE.-—For the year 1917 there was also a tax of 10 percent upon that portion of the total net income
remaining undistributed six months after the close of the taxable year, in excess of the income actually employed in the business or invested in obligations of the United States issued after Sept. 1, 1917.
For the years 1918 through 1920, a corporation that permitted an unreasonable accumulation of prof ts
was not subject to the ordinary corporation income tax, but the individual stockholders were taxed upon
their proportionate shares of its net income.
For the years 1921 through 1928, an additional tax of 25 percent was imposed upon the taxable net income
of a corporation where it was shown that there had been an evasion of surtax as the result of an unreasonableaccumulation of profits. Trr's addit'onal tax was increased to 50 percent for the years 1924 through 1933. with
the provision for 1926 and subsequent years that the additional tax shall not apply if all the shareholders of
the corporation include in their gross income their entire distributive shares, whether distributed or not,
of the net income of the corporation for such year.
For 1934 and 1935 every corporation improperly accumulating surplus (other than a personal holding company) is subject to a tax on the adjusted net income at the rate of (1) 25 percent of the amount of the adjusted
net income not in excess of $100,000, plus (2) 35 percent of the amount of the adjusted net income in excess of
$100,000.
INCOME TAX FORMS
107
FACSIMILES OF CORPORATION INCOME TAX RETURNS
FOR 1935, FORMS 1120, 1120L, AND 1120H
1120. Corporation income and excess-profits tax return.
1120L. Life insurance company income tax return for companies
issuing life and annuity contracts, including combined life, health,
and accident insurance.
1120H. Personal holding company return.
109
78019_3S
8
110
STATISTICS OF INCOME
RETURN FORM MARKEI
Form
1120
CORPORATION INCOME AND EXCESS-PROFITS TAX RETURN
For Calendar Year 1935
TREASURY DEPARTMEi
IKTUNJJ: RXTENCC SIBYK
or Fi»c«l Year begun
.
, 1935, and ended
Page 1 of Return
, 1936
(Caahfcr'a Stamp)
Dale of Incorporation
_
Under the Laws of what State or
Country..
Corporation1* Book* are in Care of
Th.
Located »t
I . This a Consolidated Return ol Railroad Corporations?
Kind o( Business (in detail)
(Also check Industrial division on pi
;
If a Foreijn Corporation, State Whether Resident or Nonresident..
Is the Corporation a Personal Hokfinf Company Within the Meanmg of Section 3S1 of the Retenue Act of 1934?
5CW
If «,, of How Many Corporation*?
3)
if Nonresident, Stele Amount of income Excluded (Instruction 33) From Grow Income, $
^....
.
(If n,
m
additional re
n on Form 1120
H mmt
be filed.)
GROSS INCOME
. Gross Sales (where inventories are
an income-determining factor), $....
and
Less Retur
; Allowam B, $
„.....•.„,...
; Net Sales... $
is Cost of Goods Sold:
(o) Inventory at beginning of year
(6)
Material or merchandise bought for manufacture or sale.
(e)
Miscellaneous costs (From Schedule A, Column 1):
(1) Salaries and
(2) Other
wages, $
;
costs, $
(d)
Total of lines (a), (b), and (c)
(«)
Less inventory at end of year
. Gross Profit from Sales (Item 1 minus Item 2)
4.
Gross Receipts (where inventories are not an income-determining factor)...
5.
Less cost of operations (FromfehedolaA. Column »:
(a) Salaries and
(6) Other
wages, $
; costs, $
„
; Total
f. Gross Profit where inventories are not an income-determining factor (Item 4 minus Item 6)
'. Interest on Loans, Notes, Mortgages, Bonds, Bank Deposits, etc
I. Royalties). Capital Gain or Loss (From 8oh*dni« B)
1. Interest on Liberty Bonds, etc. (From Sche
Bt of 1934
(o)
Domestio Corporations not subject to taxat n under Title I of Rever B Act
(e)
_
Foreign Corporations
O 13,
of 1634
_
INCLCBIVB....
DEDUCTIONS
.. Compensation of Officers (From Schedule C).»
,. Rent on Business Property
—
Other Cort«. t
'. Repairs (From Schedule D): (a) B«l«rtai »nd W»ge«, $
.: Total..
I. Losses by Fire, Storm, eto. (From Schedule F)
. Bad Debta (From SebsduteO); »Jso bonds determinedtobeworthlessduringtaxableyear (Eiptain on separate sheet).
!. Dividends (Item 12 («) et»Te)_
t. Depreciation (resulting from exhaustion, wear and tear, or obsolescence) (From Sched
I).
\. Depletion of Mines, Oil and Gas Wells, Timber, etc. (Submit schedule, see Instruction M)
,. Other Deductions Authorized by Law (Eiplaln below, or on separate sheet):
(o)
Salaries and wages. (Not
(6)
Stock determined to be worthless during the taxable year.
included In Items 2, 8.1«,
w IT»MS 15 TO
NET
or 17 abore)
25
IWCOMB (Item 14 minus Item 26)
COMPUTATION OF TAX
isce MB T i l
28.
Net Income (Item 27,
Exciss-Ption
t
ab,
29 Lees Interest on Liberty Bonds, etc.
Balance subject to Income Tax a t e m 28 minus
31.
Income Tax (13*i%of It«
»2.
Item 29)
Less: Income Tax Pal<]
Less: 12H%of*
adjusted deolan
P
J
1
Sr y^^d Ju^ 103r
m 30) (or liK% of Item 30, If this Is a
rCaPlta
27,
bdjalue of
'*
Oek
37.
Amount Subject to Excess-profits Tax atem 3S mini Item
us
38.
ailroad corporations).
(This e m U t w
Otem
atem 11)
3«.
30.
TSTAX*
U. Net Income for Excess-profits Tax Computation
Excess-profits Tax (5%
38).
of Item 37)
be allowed
dent foreign
Ions makes
common parent corporation and each subsidiary wbic
return mast make a separate Excess-profits Tax return
OTp^ration)^!!
tO
3
Po»n
by a Domestic C tamltmtauItem 32 or 31)
Is liable to
consolidated Income Tax return, the
the malting of an Excess-profits Tax
ructions 30 and 44.)
after IOJM » . 19$«,sfcan see Form 1B1 a meUaf
I
1
111
STATISTICS OF INCOME
Page 2 of Return
SCH EDULE
K—BALANC E
SHEETS
(See
tion
12)
ITEMS
Total
Amount
Am ount
ASSETS
1. Cash:
$
"
(6) Time deposits, including certificates of
deposit
I
2. Notes receivable
3. Accounts receivable
.
. .
.
*
(a) Less reserve for bad debts
A. Inventories:
(a) Raw materials
S
~
(b) Work in process
(c) Finished goods
(d) Supplies
. . .
.
• 5. I n v e s t m e n t s (nontaxablc):
(o) Obligations of a State. Territory, or political subdivi*
$
(b) Obligations issued under Federal Farm Loan Act, or
C Liberty 3!i% BoD,k aad other cbUprtloni of Vnited
O
«0 Treasury N o t e . Treasury Bills, aa.i Treasury Certin-
(e) Liberty 4% and A\\% Bonds, United States Savings
•6. Other investments:
(G) Stocks of domestic corporations
$-
$
~
(c) Stocks and bonds of foreign corporations...
(d) All other investments or loans
7. Deferred charges:
(«) Prepaid insurance
.
(6) Prepaid taxes
(c) All other
8. Capital assets:
(o) Buildings
(c) Furniture and
„
fixtures.-
_
(e) Other depreciable assets
(i)
_
Less reserves for depletion
(j) Land
10 Good will
11. Other assets (describe fuUy):
*
12
TOTAL ASSFTS
S...
LIABILITIES
$
15. Bonds and notes (not secured by mortgage)
1G. Mortgages (including bonds and notes so secured)..
17. Accrued expenses:
(a) Interest
$
(fc) Taxes
(c) All other
18. Other liabilities (describe fully):
$
19. Capital stock:
<o) Preferred stock (less stock in treasury)...
(b) Common stock (less stock in treasury)...
20. Surplus
$
21. Undivided profits.
22.
TOTAL LiABiLrrres.
1
1
j_
I
Total
112
STATISTICS OF INCOME
SCHEDULE L—RECONCILIATION OF NET INCOME AND ANALYSIS OF CHANGES IN SURPLUS
Page 8 of Return
(o) Donations, gratuities, and contributions
(6) Income and profitstaxespaid to the United States, and
suchtaxespaid to Its possessions orforeigncountries if
claimed as a credit In whole or In part In Item 33, page 1
of the return.
BT Federal Farm Loan Act, or
:) Federal taxes paid on tax-free
(S) Liberty 3H% Bonds and other obligations of Onlted
bonds...
Increase tl
(<f) Special Improvement ti
the property assessed.
(«) Furniture andfixtures,additions,
States Issued on or before September 1.19171
(4) Treasury Notes, Treasury Bills, and Treasury Certlf-
or betterments treat*
(/)
K) Interest on Indebtedness Incurred or continued to purchase
of the United States
or carry obligations (other than obligations of the United
(other than those to be reported In Line 2 (a) (2)
States Issued after September 34,1017, and originally sub-
scribed for by the taxpayer) the Interest upon which la
wholly exempt from taxation
0 Additions to reserve for bad debts which a n not Included
above)
») Dividends deductible under Section S (p) of the Revenue
«tc.(to'bede
.le deductions (to be detailed):
t, Ttfftl of Lines 1 to 4, Inclusive.-.
». Nat profit or loss for year, as shown by books, before any adjust-
ments are made therein (Lines minus Line «) (U loss. Indicate)..
1
Surplus and undivided profits as shown by balanos sheei at dose
of preceding taxable year
-
». Other credits to surplus (to be detailed):
(rf) Date paid
Char*
19. Other debits to surplus (to be detailed):
10. T ( * u ol Lines ? to », Inclusive.
11. Total from Line 17
1Z Surplus and undivided profits as shown by b .
of taxable year (Line 10 mlnm Llca 11)....>RPORATIONS (See InatrueoVra SS)
1. Cnack the block to Indicate the industrial dlvisl
If so, procure from the collector of Intern
ledule, which shall befilledIn, sworn to, andfiledas
MANUFACTURING
Food and kindred producto:
sed in producing food,
Mr, printing, rub bar,
tile and wood products.
r—1 Bakery and confectionery products,
»d in a consolidated return for the prior yearT—
If so. give name
r - 1 Canned products-flsb. fruit, vegetables, etc.
I—I Mm products—bran,flour,feed.
r-jMacnlnery-«lectrical and equipment.
•
•
Packing house products-meats, lard; slaughtering.
I—iSufar—beet, cane, maple; molasses, etc.
Other food products-butter substitute., cereals, coffee, spices, dairy products; Ice, etc.
j—I Beverages, soft drinks, mineral water.
a1
a(1
PREDECESSOR BUSINESS
thcr.buUdiL,
hinery and equipment.
_ _.,_^msnt—metal furniture, refrigsewing machines, etc.
•
h, result, continuation, or reorganliaUon of a b a s i n t a or
I—I Metal building material and equipment,
r—lBrewtng and distlUicg-alcobol, liquors, beer.
j—] Hardware, tools, e t c
I—ITobaceo products.
[—] Precious metal, products and processes.
Textile*:
•
•
Cotton
goods-dress
goods,
etc.; napping,
I—j Other metab, products and processes.
dyeing.
Woolen and worsted goods—dress goods, etc.;
MlKellaneowr aannfacrorlng:
wool pulling, scouring.
|—j Radios, complete or parts.
(—iSUk and rayon goods—dress goods, thrown
I I allk, etc.; spinning, warping.
j—I Carpets,floorcoverings, tapestries, linoleum.
•
•
BASIS OP RETURN
Musical, professional, and .dentine Instrumeats; optical goods, small boats.
6. U this return made on the basis of cash receipts and disbursements:
r-JAlrplanes, airships, seaplanes; parte.
Other toxtUes—cord, felt, fur, Unen, artificial
leather, surgicaltextiles,etc.
NONMANUFACTCRINO
I—I Clothlng-jcustom-made, factory-made, underTrade:
1—1 Knit goods—sweaters, hosiery, etc.
I—I Leather boots, shoes, slippers, etc.
1—lOther leather products-saddlery, harness,
1
I
£ - , Who
Inventory was last reconciled with stock
trunks; finishing, tanning.
j — | Robber tires and tubes.
j Other trade-repair tarries, ranees, etc
I—I Other rubber goods—boots, shoes, hose, art!-
r-nBone, celluloid and Ivory products,
Item or schedule of this
r-jSawmltl and planing mill products,
actually prepare this return for the corporation? . . - j ^ . ^ . . . . . . . . . . . . . . .
i—1 Furniture (not metal).
|—(Other wood products—carriages,
I I baskets, etc
I—I Paper, pulp and products.
|—I Real estate, realty holding, real esta
wagons,
j—|Insurance companies (not agents).
such person or person.! and state the nature and extent of the assistance or advice received and the Items
and schedules In respect of which the assistance or advlee was received; if tals return was actually prepared by any person or persons other tnan the corporation, state the source of the information reported in
thlsreturnandtheznannerlnwhlchltwasfurnlshedtoorobtalnedbysuchpersonorpersons
[—| Printing, publishing, and allied Industries.
•
•
Petroleum and other mineral oil refining and
products.
Chemicals proper, adds, oompounds, coal tar
products, etc
INFORMATION RETURN
J. Did the corporation make a return of Information on Forms 10*«and KM (sea Instruction » )torttt*
r—j Allied chemical substances, drugs, oils, soaps,
r - j Paints, pigments, varnishes, etc.
T OF ATTACHED SCHEDULES
I—|?ertlUzers.
M. day, glass, and related products.
Metal product* and proemm:
I—I Iron and steel—products of blast furnaces
I—I Locomotives and railroad equipment.
f-J Motor vehicles, complete or part*.
•
Transport
leasing:
r, aerial, motor, etc.;
accompanying the return...
113
STATISTICS OF INCOME
Page * of Return
SCHEDULE
A (See Instructions 2 and S)
1. COST OF SALES (WHERE INVENTORIES ARE AN INCI
IS (WHERE INVENTORIES ARE NOT AN INCOME-DETERMINING FACTOR)
Salaries and wages....
Other costs
Salaries and wages...
Other costs
SCHEDULE B—CAPITAL GAINS AND LOSSES (FROM SALES OR EXCH ANGES ONLY)
(See Instruction 10)
S. DIPP.ECIATIO.V AL-
LDESCR—PBO—
HSASE
,CO»
(Contract price)
9. GAIN OU LOSS
Mo. Day Vear A/o. Day Year
$
$
$
I"
:::..........................
GAIN OR LOBS (enter net amount as Item 10) (capital losses are allowable only to the extent of $2,000 p us capital gains)
(2) whether at time of sale or exchange purchaser owned more than 50%
State (1) how property was acquired...
Every sale or exchange of stock should be reported in detail, including name and address of corporation, class of stock, number of shares, capital changes ffectg basis "(stock dividends, other nontaxable dividends, stock rights, etc.).
Cost of property must be entered in column 5 if a loss is claimed in column 9.
SCHEDULE C—COMPENSATION OF OFFICERS
(See I nstruction 15)
BnARE 3 O, S T O C K E D
1. NAMK AMD ADDRESS OF CmCEH
TO B O U T O
(Ento/aa Itsm'lS)
S. I'relerred
4. Common
$
;
SCHEDULE D—COST OF REPAIRS
SCHEDULE E—TAXES PAID
(See Instruction 17)
_T;. ..::.:
...j
".
> $15,000 was paid to any officer or employee
f
NOTE: Schedule C-l IN DUPLICATE also must be filed with this return if compensa
(See Instruction 19)
1. ITEMS
$
(Eater u Item IS)
1
$
Othpr costs
SCHEDULE F—EXPLANATION OF DEDUCTION FOR LOSSES BY FIRE, STORM, ETC.
(Seel astr ction 20)
1
,.«„.„»„..„
s
$
—
!
$
State how property was acquired.
SCHEDULE G—BAD DEBTS
• YSAR
2.N.TIKCO-.
$
1931.. $
1932..
1933
1034
1935..
SCHEDULE H—INCOME FROM DIVIDENDS
(See Instruction 21)
I*
-
1
SCHEDULE I—EXPLANATION OF DEDUCTION FOR DEPRECIATION
1. K I N D OF PROPERTY
(It tKlUdlnss, state
(See Instruction 12)
4. B A D D E B T S
'•A&'S'H?"
4 A
2. D A T E
ACQUmiD
(Indicate basis)
AT E N O
F
Is
DEPRECIATE ALLOWED
(S x In stru ction 23)
'D^A'CCUMU?
LLOWAS'TS
or Y E A
L
AFFIDAVIT
(See Instruction 46)
,
, j,
, _.
T principal officer) and treasurer (or ast
, -..
- - o
%__ CT
for which this return is made, being severally duly sworn, each for himself deposes and says that this return (including its accompanying schedules and etat
rsuant to the R e v e n u e Act of 1934 and the Regulations' issued thereunder.'
Sworn to and subscribed be/ore me this
day of
, 193
(President o other p
r
r
' (Signature o officer adciiQisteriag o
f
a
AFFIDAVIT
Sworn to and subscribed before me this
(8ignatur* of officer at
day of ..
(See Instruction 47)
....'.
114
.STATISTICS OF INCOME
Page 1 of Instructions
INSTRUCTIONS
The Instructions Numbered 1 to 27 Correspond with the Item Numbers on Page 1 of the Return
CROSS INCOME AND DEDUCTIONS
' 1. Gross sales.—If engaged in busii
lere in'
determining factor, enter as Item 1 on r
page 1 of the r turn, the gross sales, less
<
goods returned and any allo'
i the sale price,
required to submit stateBanks, insurance companies, and othi
ments oi income aim expenses to any national, State, municipal, or other public
officer may submit with the return a statement of income and expenses in the
form furnished to such officer, in lieu of the information requested in Items 1 to
26 of the return, except that a railroad company will submit with the return a
statement on Form 1090. In such cases t h e taxable net income will be recon
ses the
net
be
ciled by means of Schedule L on page 3 of the reti
" h
3 of t h e return, with t ' e n e t profit show
by the income and expense st ~•"
" submitted, a n d should be entered as Item
' "" '
27 on page 1 of the return.
2. Cost of goods sold.—Enter as Item 2 the information requested on lines
(a) to (e) and list in Column 1 of Schedule A on page 4 of the return the principal
items of cost, including the amount entered on lino (c), the minor items to be
grouped in one amount. Enter as salaries and wages on line (c) the total compensation, during the period covered by this return, of individuals employed
(exclusive of officers and firm members).
If the production, purchase, or sale of merchandise is an income-producing
factor in the trade or business, inventories of merchandise on hand should be
ost,
ued
e lttes
C , or " C
,
immediately befc
o l e s (a) a n d (e) under Item 2, if the
inventories a r e valued a t cithi
cost or market, whichever is lower, and
explain full/ in answer t o question 0
age 3 t h e method used. "
inventories reported do n o t
he " '
"
'
explaining how difference occurred.
3 Gross profit from sales — E n t e r as Item 3 t h e gro s
x^hich m v e n t o n c a r e an income-determining fict r,
deducting I t e m 2, t h e cost of good old a extended, fro:
4 Gross receipts from business in which lnventc-n
determining factor.—Enter a Item 4 t h e gro*s rectipt
(See also second parag aph of In truction 1, a b o v e )
5 Cost of operations — E n t e r a Item 5 t h e cost of
>
n
Column 2 of Schedule K on page 4 of the return the principal item of co^t
the
E I U T a alan
and wage the ' jtal compen ation, during the period covered
th t " '
emploved (exclusive of offinr
nd firm member )
b j this return, of ind \ i d u a l1 c
6 Gross profit from busine
in which inventories
determining factor.—Enter a= Item 6
7 Interest on loans, etc.—Enter a I t e m 7 all m t re 11
t h e coiporation during t h e taxable year on loan , note , m rtgagts, bond , ban
deposit , etc
8 R e n t s — E n t e r a Item 8 t h e gros a m o u n t received fc _ the rent of oropertv
•
Any deduction claimed for repair ir
and de ^etiation shoi Id bt
included in Items 17, 18, 19, a n d 23, re pectively
9 Royalties — E n t e r a Item 9 the gro s amount r poei\ cd as ro alt c
If i
deduction is cliimcd f r depletion, it bhou'd be reported a Item 24
10 Capital gams and losse — R e p o r t sale or e x c h i r g e s of caoital asset* m
Schedule B and enter t h e r e t mount cf gam or lo s a Item 10 ( C O I T A L LO SLS
s n b e t h e property bneflv and state the act "al consi eration or p n i e rec«»ivid
or t h e fjur m a r k e t v a l j e of t h e pror ert r e v i v e d in exchange
If t h e property sold or exo> angid was acquired nrior t o Mar"h 1, 1<U3, the
basis for deteinuning CAI> IS the cost r Ihc fair mark«+ vali e as of March 1
3P13, adju 4 ed a s provided in section 113 (b) of t h t Revenue Act of 1934
v h i r h e v e r I greater, b t in deter nini.ig LOSS t i e ba i i> co*t & a J j u s t t d
o
O e &ec ion 113 of t h e Revenue Act of 1934 ) If t h e i m o u n t -hov n a s tost is
otl er t h a n actual ca h cost of the pi perty said or exel anged, fall details mu t
be m r m h i d regarding the acquisition of t h e property
Lnter a dcpreciati n t h e i m o u n t cf exhaustion, wear a n d t^ar, obsol p t e n c i
o r d e p e t i o n which ha been allowed (but i ot k s t lan the a m o u n t all wablt) in
re p,.ct of n ch property bin e t n ' c i f a t q m it on i r s i m p M r h l 1913 f t h e
property v as acquired b°forp t h a t ditc
In additirn, if th^ proper* \ s
acqi red before March ' , 1913, th« c »t shall be reduced t-j t h e deprcc atio I
atttiallv E ta:ned before t h a t date
Subsequent imp-ovements include i x r p n d i h i r e s for i d i i t i o n s improvements,
find repair made t o -cstorc t h e p r o r e r t j or prolopg it u pful life
N T 'os oball be re o
ognued i i any salt or other d sposit on of shares of to-k o
shall
i any s
•a'lv identical s
where th» c poratio hus
tion
rci s
w thin 30 a
f
after the date of t
btfr r
n t h e ordin
No
proptrt\
n shall be allowed in respect of loss from sale3 or exchang s
nuectlv or n d i ectlv, t. ccpt m t ' c u of di ci butior s in h i nc ati >
1
indirectly, more than 50 pf-cent in value of t h e outstanding stock. (Si
ct on 24 (a) (C) of the Revenue Act of 1934.)
The provisions of thy Revenue Act of 1934 relating to capital gains and 1 )ss.
e, ii part:
"Sec. 117 (b). Definition of capital a s s e t s . — F T th<> p i - p o ™ of this • t
bursements basis. If the books are kept on an accrual basis, report the actual
amount of interest accrued on the obligations owned during the taxable year.
The total of the interest reported as Item 2 (a)(6) and (7), Schedule L, should
be entered as Item 11 on page 1 of the return. Such intereot is allowable as a
credit against net income as Item 29, page 1 of the return.
12. Dividends.—Describe in detail in Schedule H all dividends received during
the taxable year.
Enter as Item 12 (a) dividends from a domestic corporation which is subject to
taxation under Title I of the Revenue Act of 1934 (other than a corporation
ititied to the benefits of Section 251 of the Revenue Act of 1934 and other thi
Title I of the Revenue Act of 1934. Enter as Item 12 (c) dividends fro
foreign corporation and dividends from a corporation entitled to the benefits of
Section 251 of the Revenue Act of 1934 and a corporation organized under the
China Trade Act, 1922.
13. Other income.—Enter as Item 13 all other taxable income for which no
space is provided on the return.
14. Total income.—Enter as Item 14 the net amount of Items 3, and 6 to 13,
inclusive, after deducting any losses reported in Items 3, 6, and 10.
15. Compensation of officers.—Enter as Item 15 the compensation of all
officers, in whatever form paid, and fill in Schedule C, giving the information
NOTE.—If during the taxable yea.
,,_._
r
employee compensation for personal services in excess of $15,000, S
(copies of which may be obtained from the collector of internal revenue) must
be filed, IN DUPLICATE, with and as part of this return.
16. Rent.—Enter as Item 16 rent paid for business property in which th©
orpora
o equi
17. Repairs.—Enter as Item 17 t h e cost of incidental repairs including t h e
labor, s r,plies and other Item which, do r o t add tr> t h e -value or appreciably
prolong the life of the property. Enter as salaries and wages t h e compensation,
during t h e period coveied by this return, of persons employed directly in connecti n w t h t r s inci i°i * ' f pairs as h « n . i S^hed e D Ernendit-rrea for
np"*\ builJirgs, m ( h m r\ , equipmi nt, or f r permanent l m p r o v e m r r t r i betterments w hicn ir -tasc t h t \ A it. of tnr properiA are chargeable to capital account
Fxppndit re f^r r t ornig or r t i <ingprnpir*\ are n o t deduct H t as such ex*
pendit i i s a e C1IT! 'c t o raj tal a ro I i* cr to deprrc.anon re°erve, d e p u i d lijg on ho\ dtj rpoi i ii l cli i -,it on t h e ^otK f ^ht, r o r p ia* v>n
]Q, i r t — e s ' — E n er " Item 1 3 uitc es t paid OP b l m~s rdeotedness D o
ro* ir I L l t r > t en nOc^v'ne
<
s incurred or eniti>- ed to pur<*h se or c a n y
rbhgatmi , fother than obligations of t h e United States issued after September
- 1 i ' 7 a I r i iii\ eub cr bed for b j I e taxpaje'-) t h e mt<_re t upon -which,
accrued during the taxable yea
19. Taxes.—Ente
ifits taxes, nor e ta*e u heritage legac/,
Do not in 1 ' Fr -ierpl 'ncome and profit*, ti
s cce-s m, a . ' f t +axc% n»- inc TI" t u \
v
cl i n d a = a cncLt ^ I cm 33, taxes
r ot
fc> htd le T,
ifo-3
.equ e ted
Itt
i debt ,orporti n t!
21 Bad debt — E i t t i
thereof wi HIS; fr m sales
iat > ^ \ e bt
ave bee i def nitelj ascer•fit
a m e , w tch ha
\\ orthlt^s and hi
n thiw e d off ltv n
sbt v.vthin the year
pdde 1 t
If t i c ( t O
Ldi:
d i dud'io( Ua med, = b m t ei T h i d u l e showing
d
d •prnnnod t o ba
the mo itsi> etf off
. , en+er ir bi,ned[ft
a n Mil it i
•unt of bad debts
i le u t h - an
rn incruri*, and th tune
he
d
charged off
-ntl t.til-ctcd, m^at bo
V di t
iv ch
*of
»J if Buhsenu"
nti-r 1 si
ChtiIi oollec+ed
2" D m 1 '>nds— En 1 r a s i t m 2 diviL ^tnds leportoa inc.irae in Item 12 (a)
la
, T ,i(pdu tib " or pecoun fdf pr c ati n P Item
23 Depre ctat n — T Vic ai
it
1st
or
f f
nc ••£.'-i tear, ( ob le tence, which is
ar If t^e property waa
T' Man ,h 1 K13, the
•.Tr
ire st oi
t o' depreciation
h i Id be debC
'
o f t v*<v C ialc^« Vo'i
^ h o p r o p t " t \ ? 1 e r r i It n M N r o f c
g
iinK of
if
In i
t < proper \ va n K hase 1 n n o r to March 1, 1913, t h e a m o u n t of
v +
d^p^te a t n n ^ i i I p df *tr I n t d n t ie P& r "" i r mncr except t a it v-ill be comj + 1 n i t s T M 1 I c ^ s 1 ss 1 ni »ia» on s i s t ^ i t j j n c r * o M r " h 1, 1°13, or
t !
k
^ tl t d t
^
t
If th property wag
<hp Ue/C'U
^1
odca^orinraent
fa
o nperat'ng c^nd tio a
m a a
tain
Sto^K , Dond ,
shou i bi_ desfcar vith^n the ..aean-
a»n import'
rftr'dt"" p
s) bi I dot
t) th
J
ai losses •—.Lot- ^ i"om s 'cs r r c c nn^p^ oi cap
i o i h t o t V ex t of 8^ r ' ^ , u i th-> Yb.\i*. fr m
jfc11 (i^1 >osits ht ll S P \ nend
c ( h o r irr1, no , or j
3u-
nd R1I U n t U l lcluded m dtteir
\ br'sul j ' - * i
„ thea-phoi-bl
ies from short sales etc —For t
•' " " ^ ° " J ' •
i < *
•
1
vj
VI
4
v
K ^ *^ "• • • ^^
••< f I t i t* i c T tu- i I '
por j U h
is schp^ul",
cost of the
A
'
*
J^^ ^
r i> J C f-heanl"
2^. I5t*piction»~*^lt ft rIf?diJ^tj(_'n i c rlniPicci on account of ocp'ction, s
--ictals),1 F'^m 6 (• ii ai.ri gas), c r I-orm T (tiruber), fill in a\>'! file'withVetur
i in prevf.
depietior schedui
;rar^actiors b i g o..
bearing
.
:i explanation of how depietio
aed. See Sections 23 (m) an
tl'i'e Revc-nueWt, of" 1934."
tjni 25 other deductions authorized by law
nou.it of any itnm or part thereof all'ocable
. be ailocated to such taxable income. A
an
ihers r ort ">n^ no appl Jt on to Jos-, o useful >aiue
it * i n ^ o i f p
f ( the uso of > rp#* t or Joss sustained ai
f o e stock o 1 e v t s becoming v-o ' Y e s
t o n * be (> boi d« etc - I I i i'<i * Schedule K. thi am
>HiRb o i s v i v M i J a u ' i r o i s I "it \a) schedule L, all int
ftKd '
will b e e
v the i:
f o r an item-zed statement, ir, detail, showir.g
.> :i'pt income, ai^d (2) t h e c^iount of iterua
i (the fcmount allocated by apportionment being
allocated to each si
shown t e p a r a t i l y ) .
26. Tota! dedn?ticp.8.—Enter as Item 26 t h e tota! of Items 15 to 95, inclusive.
27. ^ e t income.—Enter as Hem 27 V e net income, which is obtained b y
computed \;pi.n the ba-^i? of its tnxr.ble yrar in acco-dance with t h e method of
accounting ree'ilar'y evrpV.yed ia t i e p i n g t h e tooka unless such aiethod d o e s .
115
STATISTICS OF INCOME
Page 2 of I n s t n ctlo:
CREDIT F R TAXES
O
BALANCE SHEETS
28. A nonresident foreign corporation subject to taxation may claim as a credi
in Item 32 any income tax required to be dedutted and withheld at the source
29. If, in accordance with Section 131 (a) of the Revenue Act of 1934, i
credit
country or a possession of the United States, Form 1118
culd be submitted with this return, together with the receipt for each such
42. The balance sheets on page 2 of the retu i, Schedule K, should agrca
nth the books, or any differences should be re nciled. The balance sheets
or a consolidated return should be furnished in a
xstate trade or business and
reporting to the Interstate Commerce Commission and to any national, State,
municipal, or other public officer, may submit, in lieu of Schedule K, copies of
their balance sheets prescribed by said Commission or State and municipal.
rm must have attached to it a certified copy of the return on which each'such
cTuac\ tax was based, &nd tli6 Commissioner m&y recjuirc SLfrondon Form 1110
In case the balance sheet as at the beginning of the current taxable year does;
r the payment of any additional tax found due if the foreign tax when paid
not agree in every respect with the balance sheet which was submitted as at
neTo from the amount claimed. Foreign corporations, domestic corporations
the end of the previous taxable year, the differences should be fully explained
ititled to the benefits of Section 251, and corpeirations organized under the in the space provided under Schedule K.
bina Trade Act, 1922, are not entitled to claim this credit.
PERIOD COVERED
EXCESS-PROFITS TAX
is-pronts tfi\ 1 imposed upon the net income of every corpori
8
30. The
..
-on i tax taxable vear ending after*the close of the first \ e i r in
ri
efpect of which !t is subje< ' ' "'
""
'
mfosed bv Sect. )n 701 of
ent of such port on of th** cornoruti > c net income for such income t i \ tfi\ t
n
ear as is m PA^SS of 12# percent of the adjusted declared value of its capi
tock (ur in the case of a foreign corporation the adjusted declared vahe
amtal emp' -ved in t i e transaction of its business in the United States)
1a
ad o p e c
g
ta
\)
p
in Action 701
No \anttion between t h t adjusted declared value of capitr.1
stock set forth in the capit U stock tax return and the adjusted declared vahu
embodie l in trie excess-profits t a \ return is permissible
For evce. b profits t*x
43. Except in the case of the first return the corporation shall make its rei'irn
on the basis upon whic^ the return was made for the taxable year immediately
preceding unless, with the approval of the Commissioner, a change is made in
(lie accounting period. Application for such change shall be made on Form
TIME AND PLACE FOR FILING
44. The return must be filed on or before the fifteenth day of the third month
following the close of the taxable year with the collector for the district in which
the United States the return shall be filed 'on or before the fifteenth d V ^ f t h e
bixth moath following the close of the taxable year, with the Collector of Internal lUvotji, Baltimore, Maryland
Where a subsidiary corp >ration is not
pose s
Foreign income and profits taxes mav not be credited against the ex ? s- permitted to bo included in a consoulat< d ineo ne tax i- tjrn und^r the Revenue
c
profits ta> ij\Gry corporation which is liable for the making G an t \ t ss
f
Act of 1934, but was included in a consolidated return under the Revenue Act
of 1932, as amended, for tht list period for which it was requued to make a
group of corporations, must make its excess-profits tax return and compete its
-et-r-i i" -iei tnat \ct, sucli subsidi n cp-piranon fir am taxabl- vsar beguii t t income separately, without regard to the provisions of Section 141 of tl e ling jut r December 31, 1933 (during which it and the common parent are
Revenue Act of 1934." Where an affiliated group of railroad corporations makes
sidiary which is liable for the making of an excess-profits tax returu niu^t moAe
LIABILITY FOR FILING RETURN?
31. Corporations generally.—Every domestic or resident corporation, joint-
tk
iti
101 of the R
i
(other than a life ii'ii i^n^e
mrted
t
th» Revenue Act of 1934;
enue Act of 1934, wheth.
is m de Unless its return is so made s ich sibsidirr, must fik for s'ich jear
& truo &nd correct copy of its return with tlie collector for tiio district- ir\ which
nee* to by the SiiinG ofi':ccrs S3fi.rorequired to swear to tnc return, &nci must f 3
x
filed on or before the dat» prescribed for filing the return. Where a consolidated
jncjp o tft £ r^tur i ifl filed hv & rihii&.tfd (JToup of r/iJlrofltcl corpor&tiorit> ^^Q
n
8 Hidiary coino-iiMon m ist be fiW win the collector vutrTwhom. the consolidated income tax return is filed.
45. Th»: collector of internal revenue may grant a reasonable extension of
before the date prescribed by law for filing such return, whenever in his judgment good cau e exists.
. this for
made
e i c p p p r j , ._ _. r .
. _...
dated i con e ta^ r ^ u ' s irade bv
(Set I , u t r u c i o n 3 0 )
Sr Corporations in possessions of t»>e United States.—Domestic c.,rr c-o
v-ith.i the p c - e s IOIS of the Un>tt 1 .States 'except the V.rgin K'anls)
c
r
SIGNATURES AND VERIFICATION
46 T1 P rr* .rn shall b"
principal officer, and by tl
ofnr r
T ret m , of a fo
n to by the president, vice president, o
r
piov d< <J, (O S ) percent or I c e of the gro s income fo t r e thrc ^ \ e a pe i ifl ' t 'n s^^. J t \ ^ t RevGiv^r" tru t r cs in ban ! t rurH , and as igneta, op ratu
miron tUlv rrfee&mg the clone of the laxal U year (or such rait th< rtof a> th< | rop^rtv or Dus'ness of corporations, i.iu t i ia. e returns of mcor.e forsuc
in*i\ b° aoplical lc) was d p nv d from source. \ti+hm a posse sijn ot t i L r I * i cuT t vo.%11 IR 1^ 3. re^^^cr h*is full CLft dv of and coitrol o\cr t e buai \es3 o
a p o s o non of fie Li ited Suites
33. Foreign corporations.—A foreign corporation subject to the provisions of
i and disposing of its asseta
for pi r- ^
f li 1 id ti n
PAYMENT OF TAXES
avorVuo'V, : ^IVJ.1 rt\^nu\%S^Vr^^
rt;
+ f i
^ f
K
•
»
nv
*« T» c t y l o H . pr i ! s , im« r bn ,,in ? w,*h the reu rn a cWk or
p v
^
r(l
r
^ dra'Mi to tl r ore er o
s
th
]
e
slo''t . A L ,°n:Jis1!"thoUtT( ' ^ " d ™ t v Tp % p h V W \ I o m J n '£ **£ .\ * *A \^f
^
l
coipo-at
3'
!!SJ
irx r
r.^cibi
,
» —A lfi
Iiftu'
c
ne -. Mthm t e 11 it 1
:lf
t f (CI
a
( r . i » v ^ c l i 1 11 J ' t r K
"T F
P J I 1 M l f t i
f 1
> I d l f
enue \ c t
f 1 9 i,
6t
J'
n t , m
i,
H;^
^
i l e n a l Re ( in- at fu s^ r t
1 th aft--- the dat" prt-eribr-d r or , av 1
Th" ir t 1 i,*u ricr r
i of a rjurelv local cher
utioi
ct , a p i o \ d d 1
.
UNDISTRIBUTED PROFITS
as
t i IT < ' t X A ret ir i m I c i of sepaia P retu r s
th't'iTtWng^f t* e. l e t i r n on'it""! '
f ' Oi e
* n ] ' r
tf 11 0 c 1 c or f n +he s bs c <vj
1
40 1 p 1 11 " sell ie.es B ' I . ' I O
1
' and " n i l It t p'a ia 1 PE, pppi nded
if r t i c «
him lar c i d l'e
t ^f thcr with a -Ci.or eihati jr of the cons jlHa cd furj lus
41. Consolidated bal; ncG shtft 'is of the bej^innin^ and cl ?e of t*"e *&xrblc
Tl
U 1 rt H -
J;*
.,«
i
^LTeet^
a f
ir-cl
U
J r r ' i> a n «f V1 ) 0 '
ir . ,. c n 1 i u ut t
i
il
ea I ta
r^o, il h
(
fh
1
M
I ^a f T ~ m !Lr " '
e-cl ee
uion 1 u1 1 1 ih . ons '1 a'i , on t lu 111 r S T fi 1 J ,ike
i t c n , I c f e r a d j u ^ m u ' i . M i d i o 10 c 'u-nn frr mierc n\ 1 1 chmti ul nn r i n m f i t ? a r , no c lurrn f r a total of like l t u is after g Vn p ^F ct t
tic- t i n 1 e o r s a i aju-. 1 ! f
Tht l t e i i ' 1 uludtel n t i e c himn foi
ti
(. JI ector of
not send cush oy m 1, n,r ra> it n pe^o ,
a
CON ,« LID4TED RETURNS OF RAILROAD CORPORATIONS
1 ffee
J
cirJ
1 t + ix .11 tl L rar,- <i d r-es+ c c e r r o p t i o n mav \ paid u V i ti ? .eti.rn
s riled j r in fo n u <-l 1 t 1 l^nt^. s f JUOV t Th t fir t insta'lnci SIP 1 b*
1
1
imi
1 1 b ' '•K, 1 K. 1 t t tl e. iv
1 +1 nd. r o i ' h I 1 « i the e'e -• of t V
1
.a i ) ' e t ' tl sfi. '
t t l l m t f ' i\ t paid on r
tl P hft e n« 1 ^>,
}l
the t d m jnt
*i e t lrd 1 t ih^ent 01 01 1 ef jr he fiftr r th o \ e f tl 1,
ut»
Hers
t'
s.re
' T t
un '( tl
' j i s t 1 nf. T al,
t 1 t uc - e n r tr * the pet
' I 1 di I t i n l i ieut 1 )KHM*»
iai1
INFORMATION A.T THE SOURCE
116
STATISTICS OF INCOME
RETURN FORA1 MARKED "DUPLICATE" MUST BE FILED WITH THIS ORIG INAL RETURN
Form 1120 L
Do Not Write in These Spaces
INSURANCE COMPANY INCOME TAX RETURN
TREAS^URY^DEPART^NT
(Auditor-* Stuqn)
FOR COMPANIES ISSUING LIFE AND ANNUITY CONTRACTS, INCLUDING COMBINED LIFE,
HEALTH, AND ACCIDENT INSURANCE
For Calendar Year 1935
File Thi< Return with the Collector of Internil Rerenue (or Your District on or Before March IS, 1936
File
Code
Serial
Number
Dirtrict
(CuUtt-^Sluf)
(Name)
(Street and number)
(Post office and State*
Cuh
Cheek
M.O.
First Pa/meat
Cart, of lad.
company paid to any officer or employee during the taxable year compensation
$
GR0S
J5JV
(a) Obligations of a State, Ter ritory, or political subdivision thereof, or
$
the District of Columbia or United States possessions
(6) Obligations issued under F deral Farm Loan Act, or under such Act
as amended
(c) Liberty 3}4% Bonds and other obligations of United States issued on
or before September 1, It17
(d) Treasury Notes, Treasury Bills, and Treasury Certificates of Indebt(e) Liberty 4% and 4tf% Bo nds, United States Savings Bonds, and
Treasury Bonds owned in the principal amount of $5,000 and under..
nds, United States Savings Bonds, and
</) Liberty 4% and A)i% Be
Treasury Bonds owned ir the principal amount of over $5,000
(S) Obligations of instrumental ties of the United Statea (other than obligations to be reported in
(h) Loans, Notes, Mortgages, ]Jank Deposits, etc
2. Dividends on Stock of:
(o) Domestic Corporations sub ect to income tax under Revenue Act of
1934
(b) Domestic Corporations not Bubject to income tax under Revenue Act
$
1
1
3 Rents (attach schedule)
4.
6.
6
7
8.
9.
3. TOTAL
2. OTHEE DEPARTMENTS
1. LITE DEPARTMENT
3 INCOME
TOTAL INCOME IN ITEMS 1
TO 3 (extend total to column 3)
1
$
DED UCTIONS
Interest Wholly Exempt from Ta tation (see Instruction 5)
Reserve Funds (Item 6, Schedule A) .
percent of the Mean of the 1
Dividends (Item 2 (a) above)
Two percent of the Reserve Held for Deferred Dividends
Investment Expenses (attach ech dule)
11. Other Real Estate Expenses
12. Depreciation and Obsolescence (attach schedule)
13 Interest on Indebtedness
14.
TOTAL DEDCCTIONS IN ITE MS 5 TO 13 (extend total to column 3)
15.
NET INCOME (Item 4 minu s Item 14)
$
1
1
•
1
1 •
"•
$
:
i
i
s
$
16. Net I ome of Domestic Company (Item 15 above)
17 Less- Tnterest Partially E x e m p t from Tax (see Instruction 161
18. Balan cc Subject t o T a x (Item 16 minus I
17)
*
li!
COMPUTATION OF TAX
20. Less: I ncome T a x Paid t o a Foreign Countr; or United States Possession by Domestic Company (see Instruction 18)
?1 Balan rx of Tax, Domestic Company (Item 1 ) minus Item 20)
22. Net I i r ome of Foreign Company from So ire s within t h e United States (
F T empt from Tax (see Instruction 16)
23. Less:
% of Item 15) (see Schedule A, I t e m 8)
i
$
24. B a l a n rf Subject t o Tax (Item 22 m i n u s I t e m 23)
e Tax (13tf% of I t e m 24)
*>fi Less- j
25.
$
27. Balan cc of Tax, Foreign Company (Item 25 ninus I t e m 25)
AFFIDAVIT
(See Instruction 26)
We, the undersligned, president (or vice president, or other principal officer) and treasurer (or assistant treasur r, or chief accounting officer) of t h e corporation for which thiis return is made, being severally duly sworn, each for himself deposes a n d says t h a t this retur . (including its accompanying schedules and
statements, if any) has been examined by him and is, t o the best of his knowledge and belief, a true, correct, and :ompletc return, made in good faith, for the
taxable year stated, pursuant t o the Kevenue Act of 1934 and the Regulations issued thereunder.
otber principal officer)
er administering oath)
AFFIDAVIT
if any) is a true, coi
Of which I/we have my knowledge,
of all the ii
ibscribed befor
(See Instruction 27)
n named herein and t h a t the return (including ite accompanying schedules and s t a t e m e n t s ,
n respecting the income tax liability of the person for whom this return has been prepared
.. day "ot .
of person preparing tb
(Signature of person prepwiog"th«VeVurn)"°
of officer administering oa
117
STATISTICS OF INCOME
- R E S E R V E FUNDS
1. lTE M S
1
R
3. E.VD or TAXABLE Y « A »
I
f
2. Other Reser ve F u n d s (itemiz »be ow):
(a)
(b) . . ,
<<*)•
(e)
3.
S
TOTA L 3 OP I T E M 8 1 AN D 2
~
~
!......
4. Total of Columns 2 and 3, as shown in Itei
5. Mean of the Reserve Funds for the Taxable Year (one-half of Hem 4)
6
percent of the Mean of the Reserve Funds, as shown in Item 5 (see Instruction
7. Total Reserve Funds of Foreign Companies at End of Taxable Year upon Business v ithin the United States (attachstatement).. $...
8. Percentage which Item 7 is of Item 3, Column 3 (comjpute a fraction of 1 percent to ihrce decimal figures)
iring the Reserves Claimed Above.
SCHEDULE B—INVESTED ASSETS BOOK VALUES
LIFE DEPARTMENT
I..™.
$
A
1 Real Estate
]
2 Mortgage Loans
3 Collateral Loans
"
1
i
1
4. Policy Loans, Including Premium Notes
6. Stocks of Domestic Corporations
(a) Obligations of a State, Territory, or political subdivision thereof, or the District of
Columbia, or United States Possessions....
(b) Obligations issued under Federal Farm
Loan Act, or under such Act as amended,
(c) Liberty 3 ' . % Bonds and other obligations
of United States issued on or before
September 1, 1917.
(d) Treasury Notes, Treasury Bills, and Treasury Certificates of Indebtedness
(e) Liberty 4% and 4J{% Bonds, United States
Savings Bonds, and Treasury Bonds
owned in the principal amount of $5,000
: : : :
(/) Liberty 4r/0 and 4 ^ % Bonds, United States
Savings Bonds, and Treasury Bonds
owned in the principal amount of over
55 000
(g) Obligations of instrumentalities of the
United States (other than obligations to
8 Bank Deposits Bearing Interest
i
!
9. Other Interest-bearing Assets (attach statement)..
10.
-i $
$
TOTAJ.8 OF ITEMS 1 to 9
11. Total of Columns 2 to 5, inclusive, as shown in Item 10 above
.J..
1$
i
12. Mean of the Invested Assets for the Taxable Year (one-half of Item 11)
13. One-fourth of 1 percent of the Mean of the Invested Assets
-
SCHEDULE C—EXPLANATION OF DEDUCTION FOR DEPRECTAT ION
«. ASSETS.FCXLT
1 Krro or PROPERTY
YKAB
(IKOICATI: BASIS)
$
5,
ra PBJOB
(See Instt•uction 12)
«
.
D.P«CUT,OK
Rm«
T H I S V*EAR
R£OV?KSD
Ywa
$
1
.1.
!_.....
1. Date of incorporation
e as that used in preparing the Gain and Loss
6. Is the E
Exhibit for IS
2. Under the laws of what State or country?
3. Did the company file a return under the same name for the preceding
taxable year?
-
Was the company in any way an outgrowth,
result, continuation, or reorganization of a business or businesses in existence
during this or any prior year since December 31, 1917?
If
7. Are any general expenses in part assigned to or included in the investment
expenses shown in Item 9?
— —
—
PREPARATION OF RETURN
(See Instruction 27)
answer is "yes", give name and address of each predecessor business, and the
date of the change in entity:
company in the preparati< n of tl
the company?
If s(
(Ar
Upon such change were any asset values increased or decreased?
4. State the amount of deferred dividend funds at the end of the taxable
'
e the r.
a n d address of si
'
person or persons a n d state t h e nature a n d extent of t h e assistance or advice
received a n d t h e items and schedules in respect of which t h e assistance or advice
was received; if this return was actually prepared by a n y person or persons
other than t h e company, state t h e source of t h e information reported in this
return and t h e manner in which it was furnished to or obtained by such person
year, exclusive of any .amount held for payments during the following taxable
5. Describe method used for determ
westment expenses shown in
INFORMATION
RETURN
9. Did t h e company make a return of information o
(see Instruction 32) for t h e calendar year 1935? _ _ _ . . .
Forms 1096 a n d 1099
118
STATISTICS OF INCOME
INSTRUCTIONS
The Instructions Numbered 1 to 13 Correspond with the Item Numbers on Page 1 of the Return
GROSS INCOME AND DEDUCTIONS
| the operations of the year. In any event the deduction is limited
to the depreciation on the property that is used, and to the extent
1. Interest.—Enter as item 1 interest received from all sources"]
used, for the purpose of producing the income specified in section
during the taxable year. Interest on bonds is considered income 202 (a) of the Revenue Act of 1934. If the property was acquired by
when due and payable.
purchase on or after March 1, 1913, the amount of depreciation
2. Dividends.—Enter as item 2 (a) the amount received as should be determined upon the basis of the original cost (not redividends (1) from a domestic corporation which is subject to taxa- placement cost) of the property, and the probable number of years
tion under Title I of the Revenue Act of 1934 other than a corporation remaining of its expected useful life. In case the property was
entitled to the benefits of section 251 of the Revenue Act of 1934 purchased prior to March 1, 1913, the amount of depreciation will be
and other than a corporation organized under the China Trade Act, determined in the same manner, except that it will be computed on
1922. Enter as item 2 (b) dividends from a domestic corporation its original cost, less depreciation sustained prior to March 1, 1913,
which is not subject to taxation under Title I of the Revenue Act of or its fair market value as of that date, whichever is greater. If the
1934. Enter as item 2 (c) dividends from a foreign corporation and property was acquired in any other manner than by purchase, see
dividends from a corporation entitled to the benefits of section 251 section 114 of the Revenue Act of 1934. The capital sum to be
of the Revenue Act of 1934 and a corporation organized under the recovered should be charged off ratably over th8 useful life of the
China Trade Act, 1922. Submit schedule, itemizing all dividends property. Whatever plan or method of apportionment is adopted
received during the year stating amounts and names and addresses must bo reasonable, must have due regard to operating conditions
of the corporations declaring the dividends.
during the taxable year, and should be described in the return.
If a deduction is claimed on account of depreciation, Schedule C
3. Rents.—Enter as item 3 rents received from tenants.
should be filled in. In case obsolescence is included, state separately
4. Total income.—Enter as item 4 the total of items 1 to 3, amount claimed and basis upon which it is computed. Land value9
inclusive.
or cost must not be included in the schedule, and where land and
5. Interest exempt from taxation.—Enter as item 5 the amount buildings were purchased for a lump sum the cost of the building
of interest which is wholly exempt from taxation under the provisions subject to depreciation mast be established.
of section 22 (b) (4) of the Revenue Act of 1934.
The adjusted property accounts and the accumulated depreciation
See Instruction 16 with respect to partially tax-exempt interest shown in the schedule should be reconciled with those accounts as
which is allowed as a credit against net income.
reflected on the books of the taxpayer.
Stocks, bonds, and like securities are not subject to exhaustion,
6. Percentage of the mean of the reserve funds.—Enter as item 6
the amount reported as item 6 in Schedule A. There may be wear and tear, within the meaning of the law.
See sections 23 (1), 114, and 203 (a) (7) of the Revenue Act of 1934.
deducted from gross income an amount equal to 4 percent of the
13. Interest on indebtedness.—Enter as item 13 the amount of
mean of the reserve funds required by law and held at the beginning
and end of the taxable year, except that in the case of any such reserve interest paid during the taxable year on the company's indebtedness,
fund which is computed at a lower interest assumption rate, the rate except, on indebtedness incurred or continued to purchase or carry
of 3% percent shall be substituted for 4 percent. Life insurance obligations (other than obligations of the United States issued after
companies issuing policies covering life, health, and accident in- September 24, 1917, and originally subscribed for by the taxpayer)
surance combined in one policy issued on the weekly premium pay- the interest upon which is wholly exempt from taxation. Interest
ment plan, continuing for life and not subject to cancellation, shall paid on dividends held on deposit and surrendered during the taxbe allowed, in addition to the above, a deduction of 3% percent able year should be included in this item. Do not include any
of the mean of such reserve funds (not required by law) held at the interest paid on deferred dividends on which a deduction was
beginning and end of the taxable year, as the Commissioner finds allowed under item 8.
to be necessary for the protection of the holders of such policies
14. Rental value of real estate.—The deduction included in items
only. For definition of "allowable reserves" see Article 203 (a) 10 to 12 on accou'nt of real estate owned and occupied in whole or
(2)-l, Regulations 86.
in part by the company shall be limited to an amount which bears
the same ratio to such deduction (computed without regard to sub7 . Dividends.—Enter as item 7 the total amount of dividends section (b) of section 203 of the Revenue Act of 1934) as the rental
deductible under section 203 (a) (3) of the Revenue Act of 1934.
value of the space not so occupied bears to the rental value of the
8. Two percent of the reserve held for deferred dividends.—Enter entire property. (Submit detailed schedule.)
as item 8 an amount equal to 2 percent of the reserve held at the end
15. Items not deductible.—No deduction is allowable for the
of the taxable year for deferred dividends the payment of which is amount of any item or part thereof allocable to a class of exempt
deferred for a period of not less than 5 years from the date of the income, other than interest. Items directly attributable to such
policy contract. Do not include in such reserve dividends payable exempt income shall be allocated thereto, and items directly
during the following taxable year.
attributable to any class of taxable income shall be allocated to such
9. Investment expenses.—Enter as item 9 expenses paid which
are properly chargeable to investment expenses, the total amount
of which, if there be any allocation of general expenses to investment
expenses, should not exceed one-fourth of 1 percent of the mean of
the invested assets reported in item 11, Schedule B. Submit a schedule showing the nature and amount of the items included herein, the
minor items being grouped in one amount. See section 203 (a) (5)
of the Revenue Act of 1934. For definition of "general expenses"
see Article 203 (a) (5)-l, Regulations 86.
taxable income. A taxpayer receiving any exempt income, other
than interest, or holding any property or engaging in any activity
the income from which is exempt shall submit with its return as a
part thereof an itemized statement, in detail, showing (1) the amount
of each class of exempt income, and (2) the amount of items allocated
to each such class (the amount allocated by apportionment being
shown separately).
10. Taxes.—Enter as item 10 taxes paid exclusively upon real
estate owned by the company, and that proportion of the taxes
assessed against individual shareholders and paid by the company
without reimbursement, as provided in section 203 (a) (6) of the
Revenue Act of 1934. Do not include taxes assessed against local
benefits of a kind tending to increase the value of the property
assessed, as for paving, sewers, etc. For limitation on deduction
see Article 203 (a) (G)-l, Regulations SG.
16. Enter as item 17 the amount of interest included in gros9
income which is partially exempt from taxation under the provisions
of section 22 (b) (4) of the Revenue Act of 1934. In the case of a
foreign insurance company such credit for interest (to be entered as
item 23) is limited to an amount which bears the same ratio to the
amount otherwise allowed as a credit as the reserve funds required
by law and held by it at the end of the taxable year upon business
transacted within the United States is of the reserve funds held by
it at the end of the taxable year upon all business transacted.
(Submit detailed schedule.)
11. Other real estate expenses.—Enter as item 11 all ordinary
and necessary building expenses, such as fire insurance, heat, light,
labor, etc., and the cost of incidental repairs which neither materially
add to the value of the property nor appreciably prolong its life,
but keep it in an ordinarily efficient operating condition. Do not
include any amount paid out for new buildings or for permanent
improvements or betterments made to increase the value of any
property. For limitation on deduction see Article 203 (a) (6)-l,
Regulations 86.
12. Depreciation.—The amount deductible on account of depreciation in item 12 is an amount reasonably measuring the portion
of the investment in depreciable property by reason of exhaustion,
wear and tear, or obsolescence, which is properly chargeable against
CREDIT AGAINST NET INCOME
CREDIT FOR TAXES
17. A foreign company subject to taxation and not engaged in a
trade or business within the United States and not having any office
or place of business therein may claim as a credit in item 26 any
income tax required to be deducted and withheld, at the source.
18. If credit is claimed in item 20 for income tax paid to a foreign
country or possession of the United States, Form 1118, together
with the receipt for each such tax payment, must be submitted with
this return. If credit is claimed for taxes accrued a bond may be
also required on Form 1119. A foreign company is not entitled to
claim this credit.
__ iaM
119
STATISTICS OF IXOOME
LIST OF ATTACHED SCHEDULES
19. Attach a list of the schedules accompanying this return, giving
for each a brief title and the schedule number. Place name and
address of company on each schedule.
COMPANIES REQUIRED TO FILE A RETURN
20. Liability.—Every domestic or foreign life insurance company
that derives income from sources withm the United States, issuing
life and annuity contracts (including life, health, and accident
insurance), the reserve funds of which held for the fulfillment of
such contracts comprise more than 50 percent of its total reserve
funds, shtll file a return on this form. See sections 201 to 203 of the
Revenue Act of 1934.
21. Basis of return.—A return on this form shall be rendered on a
statement made to the State Insurance Department, instead of the,
accrual basis.
22. Annual statement.—A copy of the annual statement for life
insurance companies adopted by the National Convention of Insurance Commissioners for the your 1935, as filed with the Insurance*
Department of the State, Territory, or District of Columbia, which
shows the reserves used in computing the net income reported on
•the return, together with copies of Schedule A (real estate) and Schedule D (bonds and storks), must accompany this return. Similar
copies for the preceding year must be also" furnished, if not filed
with the return for the previous year.
23. Compensation of officers and employees.— if (he company
paid to any officer or employee during the taxable year compensation
for personal services in excess of 815,000, Schedule C-l (copies of
which may be obtained from the Collector of Internal Revenue) must
be Wed, IN DUPLICATE, with and as part of this return.
PERIOD COVERED
24. The return shall be for the calendar year ended December 31.
1935, and the net income computed on the calendar year basis in
accordance with the State laws regulating insurance companies.
TIME AND PLACE FOR FILING
25. In the. case of a domestic company, the return must be sent
t o the Collector of Internal Revenue for the district in which the
••company's, principal office is located, so as to reach the collector's
office on or before March 15, 193G. In the case of a foreign company
not having any office or place of business in the United States, the
return shall be filed with the Collector of Internal Revenue, Baltijnoi'Oj JYjHi V'itmij on or boiorc »'iino 1 3 1133O.
**
The Collw tor of Internal Revenue may grant a reasonable extension
of time for filing a return, not to exceed 6 months, if application
therefor is made before the date prescribed by law for filing such
return, whenever in his judgment good cause exists.
AFFIDAVITS
20. The return shall be sworn to by the president, vice president,
•or other principal officer, and by the treasurer, assistant treasurer,
or chief accounting officer. The return of a foreign company having
no office or place of business in the United States but having an
agent in the United States shall be sworn to by such agent. An
attorney or agent employed to represent the company before the
Department is not permitted to administer the oath.
27. Question 8 at the foot of page 2 of the return should be
answered fully, and where the return ia actually prepared by some
person or persons other than the taxpayer, such person or persons
must execute the affidavit at the foot of page 1 of the return.
PAYMENT OF TAX
28. The tax should be paid by Sending with the return a cheok or
money order drawn to the order of "Collector of Internal Revenue
at (insert name of city and State)." Do not send cash by mail, nor
pay it in person except at the collector's office.
The tax in the case of a domestic company, or a foreign company
having an office or place of business in the United States, may be
paid at the time of filing the return, or in four equal installments, as
follows: The first installment shall be paid on or before March 15,
1936, the second installment shall be paid on or before June 15, 1936,
the third installment on or before September 15, 1936, and tho fourth
installment on or before December 15, 193G.
If any installment is not paid on the date fixed for its payment,
the whole amount of the tax unpaid shall be paid upon notice and1
demand by the Collector.
PENALTIES
29. For willful failure to make and file a return on time.—Not
more than 810,000, or imprisonment for not more than 1 year, or
both, together with tho costs of prosecution, and, in addition, 5
percent to 25 percent of the amount of the tax.
30. For willfully making a false or fraudulent return.—Not more
than $10,000, or imprisonment for not more than 5 years, or both,
together with the costs of prosecution.
31. For deficiency in tax.—Interest on a deficiency at 6 percent
per annum to the date the deficiency is assessed, or to the thirtieth
day after the filing of a waiver of the restrictions on assessment and
collection, whichever date is the earlier, and, in addition, 5 percent
of the amount of tho deficiency if due to negligence or intentional
disregard of °rules and regulations without intent to dofraud, or 50
percent of amount of deficiency if due to fraud.
INFORMATION AT SOURCE
32. Every corporation making payments of salaries, wages,
interest, rents, commissions, or other fixed or determinablo income of
$1,000 or more during the calendar year to a sing.e person, a partnership, or a fiduciary, or $2,500 or more to a married person, or pay*
ments of dividends of $300 or more to an individual, a partnership, or
a fiduciary, is required to make a return on Forms 1096 and 1099
showing tho amount of such payments and tho name and address
of each iccipient. These forms will be furnished by any colleotor
of internal revenue upon request. Such returns of information covering the calendar year 1935 must bo forwarded to the Commissioner
of Internal Revenue, Sorting Section, Washington, D. C , in time*
to be received not later than February 15, 1936.
120
STATISTICS OF INCOME
RETURN FORM MARKED "DUPLICATE- MUST BE FILED WITH THIS ORIGINAL RETURN
RETURN OF PERSONAL HOLDING COMPANY
SUBJECT TO SURTAX UNDER SECTION 351 OF THE REVENUE ACT OF 1934
For Calendar Year 1935
NOTE.—A return ra this form most b« made even though wider Mctfon M l ( d ) of the Kerwrae Act of 19M the surtax does not apply.
Items 1 to » and Schedule D need b e filled la. (See Instruction 12.)
In anch event o a l r
Did any person or persons advise the corporation in respect of any question or matter affecting any item or schedule of this return, or assist or advise the
corporation in the preparation of this return, or actually prepare this return for the eorporationT
.__
>r--,J?
ao, give the name and address of such person
or persons and state the nature and extent of the assistance or advice received and the items and schedule/in reepeoVof which the assistance or advice was reorived;
if this return was actually prepared by any person or persons other than the corporation, state the source of the information reported in this return and the
manner in which it was furnished to or obtained by such person or persons.
The question above should be answered fully, and where the return is actually prepared b y •
.
,
e person or persons other than the corporation, such person
or persons must execute the affidavit at the foot of this page.
ADJUSTED N E T INCOME (See Ia«traetloii 6)
1. Net income (as defined in Title I of the Revenue Act of 1034)™..,
3 . Dividends on stock of domestic corporations subject t o taxation under Title I of the Eeyenue Act of 1934 (from *
8.
TOTAL OF ITEMS 1 AND 2.
4. Less: Federal income, war-profits, and exoess-profits taxes (ftam Sohedab B)
5.
Contributions or gifts (not (Mooted la compote* Item 1) (from 8et*dok C)
6.
Losses from sale or exchange of capital assets (dbaHow»db7M3tiaaU7(d)o<tteBmwH»Asto(iH4).
7.
Income tax paid to a foreign country or U. S. possession (net fedm*
&
9.
TOTAL OF ITEMS 4 TO 7
„_
ADJUSTED N E T INCOME (itemsmimuItems)
UNDISTRIBUTED ADJUSTED NET INCOME (See
10. Adjusted Met income (Item » above) (Enter tn both ootamn.).
11. Less: Dividends from personal holding companies (|M» Scbedste.
12* JBalanco (Item lft eofamn 1, miaus Item ! ! ) . „ « . „ . » „ . . „ . , . „ . . . . . . . „ . .
18. 20% of Item 12.
14. Amount used or set aside t o retire indebtedness (from Sehedafe E) (aw butraeUos «)
15. Dividends paid during year.
16.
17.
18.
19.
20.
21.
TOTAL OF ITEMS 13 TO
15
.
—
U N D I S T R I B U T E D ADJUSTED N E T INCOME (Item 10,
Undistributed adjusted net income atom »»bov.>
Amount taxable at rate of 30% (not ia «
Amount taxable a t rate of 40% (Kern is
Surtax on Item 19 (30%of it«n »).
22. Surtax on Item 20 (40% of Item
23.
TOTAL SURTAX Qtem a pim item 2a)...
AFFIDAVIT ( S e e Instruction 8)
We, the undersigned, president (or vice president, or other principal officer) and treasurer (or assistant treasurer, or chief accounting officer) of the corpora
tion for which this return is made, being severally duly sworn, each for himself deposes and saya that this return (including its accompanying schedules and statemants, if any) has been examined by him and is, to the best of his knowledge and belief, a true, correct, and complete return, made in good faith, for the taxable
year stated, pursuant t o the Revenue Act of 1934 and the Regulations issued thereunder.
Sworn to and subscribed before me this
.,193
.
[
COBFOHATBI
AFFIDAVIT
I/we swear (or affirm) that I/we prepared this return for the person named herein and that the return (including its accompanying schedules and
any) is a true, correct, and complete statement of all the information respecting the additional graduated income tax or surtax liability of the person for
return has been prepared of which I/we have any knowledge.
Sworn to and subscribed before me t h i a . .
I
NOTABXAX.1
MAI,
_ day of
.
J
CNam* oftanor employer, If may)
121
STATISTICS OF INCOME
SCHEDULE A—Dividends (From Dome.dc Corporations Subject to Taxation Under Title I of the Rerenae Act of 1934)
3. DmiXNDS fBOH OOlirANIBS
OTHIB TBAlf maOMAl.
ING COUMNIU
t . NAMS AN© ADDftKM Of DOMESTIC COKTOBATIOM
$
$
TOTALS
HOLD-
$
$
TOTAL OF COLUMNS 2 AND 3 (enter as Item 2)~.
SCHEDULE B—Federal Income, War-proflts, and Exeeas-proflts Taxes
Itemize below all Federal income, war-profits, and excess-profits taxes paid or accrued during the year, stating the amount and year for which paid or accrued:
SCHEDULE C—Statement of Contributions (See Instruction S)
NiMI Or OBOIHOATIOIC
A-OOHTP^
* -
AKorifi
l
FAD
$
I
$
SCHEDULE D—Payment of Surtax on Pro Rata Shares (See Ingtr action 12}
<Fffl laralrIf Mdlm l»l(4) 1 th* B m n t Act <f 1M4 stalks)
Gun
NAM> i»D ADPBUB or EACS 8uBxaou>KB
or STOCK AXD
A O N RirOBTBD BT
M UT
ZkA
8BABBHOLOIB
NUUBIB Of 8SABB8 B t t D
$
TOTAL
$
SCHEDULE E—Deductions Claimed for Amounts Used or Set Aside to Retire Indebtedness Incurred Prior to January 1. 1934
2. r>iT*n»CT7BKED
3. D U B
DATB
(OB
TiXlBLt ' flAB
TAIIBLI VBXB
Afo.
Do»
r«or
Mo.
Da,
'•B^BVV1,^?.0'
Y,ar
1
A complete statement setting forth the information required by Instruction 6 must be given below.
(Attach additional sheets, if necessary.)
122
STATISTICS OF INCOME
TITLE IA, REVENUE ACT OF 1934
ADDITIONAL INCOME TAXES
S E C 351. STJBTAX ON PERSONAL HOLDING COMPANIES.
00 IMPOSITION OP TAX.—There shall be levied, collected, and paid, for
each taxable year, upon the undistributed adjusted net income of every personal
holding company a surtax equal to the sum of the following:
(1) 30 per centum of the amount thereof not in excess of $100,000; plus
(2) 40 per centum of the amount thereof in excess of $100,000.
(b) DEFINITIONS.—Ae used in this title—
(1) The term "personal holding company" means any corporation (other
than a corporation exempt from taxation under section 101, and other
than a bank or trust company incorporated under the lawa of the
United States or of any State or Territory, a substantial part of whose
business is the receipt of deposits, and other than a life-insurance company or surety company) if—(A) at least 80 per centum of its gross
income for the taxable year is derived from royalties, dividends, interest, annuities, and (except in the case of regular dealers in stock cr
Becurities) gains from the sale of stock cr securities, and (B) at any
time during the last half of the taxable ye&r more than 50 per centum
in value of its outstanding stock is owned, directly or indirectly, by or
for not more than five individuals. For the purpose of determining the
ownership of stock in a personal holding company—(C) stock o-A^ed,
directly or indirectly, by a corporation, partnership, estate, or trunt
shall be considered as being owned proportionately by its shareholder?,
partners, or beneficiaries; (D) an individual shall be considered as
owning, to the exclusion of any other individual, the stock owned,
directly or indirectly, by his family, and this rule shall be applied in
such manner as to produce the smallest possible number of individuals
owning, directly or indirectly, more than 50 per centum in value cf the
outstanding stock; and (E) the family of an individual she!! include
only his brothers and sisters (whether by the whole or half blood),
spouse, ancestors, aiid lineal descendants.
(2) The term "undistributed adjusted net income" means the adjusted net
income minus the sum cf'.
(A) 20 per centum of the excess of the adjusted net income over the
amount of dividends received from persoual holding companies which
i
j
j
|
I
j
are allowable as a deduction for the purposes of the tax imposed by
section 13 or 204;
(B) Amounts used or set aside to retire indebtedness incurred prior to
January 1, 1934, if such amounts are reasonable with reference to the
size and terms of such indebtedness; and
(C) Dividends paid during the taxable year.
(3) The term "adjusted net income" means the net income computed
without the allowance of the dividend deduction otherwise allowable,
but)
;s the
(A) Federal income, war-profits, and excess-profits taxes paid or
accrued, but not including the tax imposed by this section;
(B) Contributions or gifts, not otherwise allowed as a deduction, to
or for the use of donees described in section 23 (o) for the purposes therein
specified; and
(C) Losses from sales or exchanges of capital assets which are disallowed as a deduction by section 117 (d).
(4) The tomi3 used in tills section Biioll li&vc thus ssuno ms&ning &s "wti6n used
in Title I.
(c) ADMINISTRATIVE PROVISIONS.—All provisions of law (including
penalties) applicable in respect of the taxes imposed by Title I of this Act,
shall insofar as not inconsistent with this section, be applicable in respect of the
tax imposed by thia section, except that the provisions of section 131 of that
title shall not be applicable.
(d) PAYMENT OP SURTAX ON PRO RATA SHARES.-—The tax irnposed by this section shall not apply if all tlia shareholders of the- corporation
include (at the tune of filing their returns) in their gross income their entire
pro rata shares, •whether distributed or not, of tho "adjusted net income" of
the corporation for *uch year. Any amount so included in the gross incoiaa of
a shareholder shall be treated as a dividend received. Any subsequent distriltion made by the corporation out of earnings or profits for such taxable year
iall, if distributed to any shareholder who has ao included in his gross income
,s pro rata share,.be exempt from tax in the amount of the share so included,
(e) IMPROPER ACCUMULATION OP SURPLUS.—For surtax on corpor;ious which accumulate surplus to avoid surtax on stockholders, nee section 102.
INSTRUCTIONS
1. SURTAX ON PERSONAL HOLDING COMPANIES
Section 351 of Title IA of the Revenue Act of 1934 imposes an additional
graduated income tax or surtax upon corporations classified as personal holding
companies. Corporations so classified are exempt from the surtax on corporations improperly accumulating surplus imposed by section 102 of Title I of
the Revenue Act of 1934, but are not exempt from the other taxes imposed by
that title. Unlike the surtax imposed by section 102, the surtax imposed by
section 351 applies to all personal holding companies defined as such in Instruction 2 regardless of whether or not they wore formed or availed of to accumulate
gains and profits for the purpose of avoiding surtax upon shareholders.
2. CLASSIFICATION OF A PERSONAL HOLDING COMPANY
A personal holding company is defined as any corporation (other than a
corporation specifically exempt), first, 80 percent or more of whose gross income
for the taxable year was derived from royalties, dividends, interest, annuities,
and gains from the sale of stock or securities; and, seconfl, more than 50 percent
in value of whose outstanding stock was owned, directly or indirectly, at any
time during the last half of the taxable year by or for not more than five individuals. The only corporations specifically exempt from this tax are as follows:
(1) Corporations exempt from taxation under section 101 of Title 1; (2) banks
and trust companies (incorporated under the laws of the United States, or of
anv State or Territory), a substantial pivrt of whose business is the receipt of
deposits; (3) lifo insurance companies; and (4) surety companies.
It is the nature of the gross income and the ownership of the outstanding stock
which determine the classification aa a personal holding company, and the several
conditions with respect to both must be satisfied to bring a corporation within
the classification. Gross income must be determined for the entire taxable year
and the ownership of the stock outstanding must be determined according to its
a personal holding company for some years and not for other years. In that
c&se, the Burtax liability shall be determined under section 351 only for the years
in which the corporation comes within the classification aa a personal holding
company, while ; I e liability for surtax as to the other yeara will depend upon
whether the corporation comes within the provisions of section 102 with respect
The gross income for purposes of section 351 means the gross income as computed under sections 22,204, and 231 and the regulations thereunder, for purposes
of the taxes imposed by Title I. Accordingly, items excluded from the gross
income under Title I are not to be included in determining gross income under
Bectioo 351. Gross income is not synonymous with grosa receipts. For example,
in the case of a sale or exchange of property, it includes only the excess of the
amount realized therefrom over the adjusted basis provided for in section
113 (b). It does not include gains which are not recognized under section
112 (b). In the case of a corporation reporting on the installment basU, it
includes only that portion of the gain returnable as income under section 44.
In the case of a manufacturing, merchandising, or mining business, "gross
income" means the total sales, less the cost of goods sold, plus any income from
investments and from incidental or outside operations or sources. In determining
gross income, subtractions should not be made for depreciation, depletion,
sclliDg expenses, or losses, or for items not ordinarily used in computing the cost
of goods sold. Sales of capital assets as defined in section 117 mu3t be treated
as separate transactions afid only those sales which individually resulted in
profits shall be considered In determining the gains derived from such source.
Gains from all transactions involving stock in trade, etc., are determined for
the taxable year as a whole instead of separately.
3. NATURE OF GROSS INCOME
From the standpoint of the nature of the gross income, a corporation comes
within the definition of a personal holding company for any taxable year when
80 percent or more of its gross income for such taxable year was derived from
the following sources;
(o) Royalties.—Tha term "royalties" includes amounts received for the use
of or for the privilege of using patents, copyrights, secret processes and formulas,
good will, trade marks, trade brands, franchises, and other like property. It
doe3 not include rents, nor overriding rovalties received bv an operating company. As used in this paragraph the term "overriding royalties " means amounts
received from a sublessee by the operating company which originally iea&ed and
developed the natural resource property in respect of which such overriding
royalties are paid.
(6) Dividends—The term "dividends" means dividends as defined in section
115 (a). It does not include stock dividends, liquidating dividends, or other
capital distributions referred to in section 115 (c), (d), and (f).
(c) Interest.—The term "interest" means any amounts received for the uae
of borrowed money which are includible in gross income under Title I.
(d) Annuities.—The term "annuities" refers only to annuities to the extent
inciudible in the computation of gross income under Title I.
(e) Gains from, the sale of stock or securities.—The term "gains from the sale
of stock or securities" applies to all gains (including gains from liquidating
dividends and other distributions from capital) from the sale or exchange of
stock or securities inciudible in gross income under Title I. The term "stock
or securities" includes shares or certificates of stock or interest in any corporaorganization classified as a corporation by the Act), certificates of interest or
participation in any profit sharing agreement or in any oil, gas, or other mineral
royalty or lease, collateral trust certificates, voting trust certificates, stock
rights or warrants, bonds, debentures, certificates of indebtedness, notes, c^r
trust certificates, bills of exchange, obligations issued by or on behalf of a
Government, State, Territory, or a political subdivision thereof, etc.
In the case of "regular dealers in stock or securities" the term does not innormal course of business. The term "regular dealers in stock or securities"
means corporations with an established place of business regularly engaged in
the purchase of stock or Becurities and their resale to customers. A corporation
which is a regular dealer in stock or securities but which buys or sells or holds
stock or securities for investment cr speculation ia not a dealer with respect to
such stock or securities.
4. STOCK OWNERSHIP
From the standpoint of the ownership of the outstanding stock, a corporation
comes within the definition of a personal holding company for atjy taxable
year if at any time during the last half of the taxable year more than 50 percent
in value of the stock outstanding was owned, directly or indirectly, by or for
not more than five individuals. The ownership of the stock shall be determined
in accordance with the following rules:
(a) All forms and classes of stock, however denominated, which represent.
the interests of the shareholders, members, or beneficiaries in the corporation
shall be taken into consideration. For the purpose of determining such ownership, the Act provides that stock ownod, directly or indirectly, by a corporation,
partnership, estate or trust shall be considered a3 being owned proportionately
by its shareholders, partners, or beneficiaries.
(6) The stock outstanding only during the last half of the taxable year shall
be taken into consideration. However, and in the event of any change iu
the stock outstanding during such period, whether in the number of shares or
aticn, since a corporation comes within the classification if the statutory conditions with respect to stock ownership are present at any time during the period
specified.
(c) The stock owned by an individual shall include all stock in tho same
corporation owned, directly or indirectly, by the members of his family. For
this purpose the family of an individual shall include only hia brothers and
sisters (whether by the whole or half blood), spouse, ancestors, and lineal de -
123
STATISTICS OF INCOME
eeendanta. The Act further provides that this role shall be applied in such
manner as to produce the smallest possible number of individuals owning, directly or indirectly, more than 50 percent in value of the outstanding stock.
For example, the M corporation at some time during the last half of the taxable
year had 1,800 shares of outstanding stock, 450 of which were held by various
individuals having no relationohip to one another and the remaining 1,350 were
held by 50 shareholders having the relationships and individual shareholdings
as follows:
ment must be made out of earnings for the taxable year before distribution of
such earnings may be made. The reasonableness of the deduction shall be
determined upon existing conditions known at the close of the taxable year.
The fact that amounts have not been used or set aside in prior years will not
entitle the taxpayer to deduct in any taxable year a greater amount than would
otherwise be allowable. Amounts paid or set aside to discharge current liabilities
for expenses, salaries, wages, taxes, interest, the purchase of any property for
resale, dividends, balances due brokers, bank or other commercial loans, or any
other current liability (whether represented by negotiable instruments, balances
on account, or otherwise) do not constitute allowable deductions. This is true
as respects liabilities which are payable at the convenience of either the debtor
or the creditor, or on the demand of either.
No deduction will be permitted with respect to any item for which a deduction
is otherwise allowable under Title IA or Title I of the Revenue Act of 1934 or
under any applicable prior income tax act.
In the above example by applying the statutory rule, fivo individuals owned
more than 50 percent of tho outstanding stock aa follows;
A (including AF AW, Ah, AS, ASHS)
B (including EF, EW, B6, 3S, BSUS)
CW (including C, CS, CWF, CWB) . . . .
DB (including D, L'F, DBW)...
_
_
EWB (including few, EWF, EWBW).._
. . . 160
.. - - . . . . 100
220
200
170
TOTAL OE MORE THAN 50 PERCSNT
A resolution, specifying the particular indebtedness to be retired, the plan of
retirement, and the spepific assets to be used for that purpose, passed by the
board of directors or corresponding authority during the taxable period or prior
thereto, will be considered sufficient to meet the statutory requirement that the
amounts muet be "s^t aside/' A certified copy of such resolution must accompany this return.
The burden of proof will rest upon the taxpayer to sustain the deduction
claimed. Therefore, the taxpayer must furuwb the information required by
Schedule E of this return and such othor information as the Commissioner may
joquirs in substantiation of the deduction claimed.
910
It will be noted that individual A represents the obvious case where the head
of the family owns the bulk of the family stock and naturally is the head of
the group. Individual B represents the case where lie is still head of the group
because of the ownership of 3tock by his immediate family. Individuals C
and D represent cases where the individuals fell in groups headed in C's case
by his wife and in D's case by his brother because of the preponderance of
holdings on the p?^t of relatives by marriage. Individual Hi repreaents the caao
where the preponderant holdings of others eliminate that individual from the
group.
(d) In determining whether the statutory conditions with respect to stock
ownership are prenent'at any time during the period specified, the phrasa "iu
value" shall, in the light cf all the circumstances, be dccined the value of the
corporate stock outstanding at such time (not including treasury efeock). This
value may be determined upon the basis of the company's net worth, earring
and dividend paring capacity, appreciation of assets, and any other 'actor
having a bearing upon the valve of tho stock. If a value of stock is U3ed
whit'li is greatlv nt v&tlanco witn that reflected by the coirpor&te books, the
evidence upon which such valuation is based should be filed with the return.
In any case where thera RTI
g the differ
uted a:
classes a oio.ing
5. COMPUTATION OF UNDISTRIBUTED ADJUSTED NET INCOME
7. BATE OF SURTAX
The surtax ia t-o be computed at the rate of 30 percent upon the amount of tha
undistributed adjusted net income not in excess of $100,000, and at the rate of
40 percent upon the amount of the undistributed adjusted net income in excess
of $100,000.
?. SIGNATURES AND VERIFICATION
Tho return shall be sworn to by the president, vice president, or other principal officer, and by the treasurer, assistant treasurer, or chief accounting officer.
The return cf a foreign corporation having no office or ptece of businf*a in the
United States but having an agent in the United States shall tw sworn to by
h agent
9. TIME AND PLACE FOE FILING
The return must be filed on or before the fifteenth day of the third month
following the close of the taxable year with the collector cf internal revenue
for th« district in which the corporation's principal office is located. In the case
of a. foreign coiporation not Slaving any Oixice cr place of business in the United
following the close of the taxable year, with the Collector of Internal Revenue,
The collector of internal revenue may grant a reasonable extension of time
for filing a return, not to exceed 6 months, if application therefor is made before
the date prescribed by law for filing such return, whenever in his judgment
In ascertaining th« tax basis for personal holding companies, the "adjusted
net income " is first computed. This is accomplished by adding to tho corporate
net income, aa defined in Title I, tha amount of dividends received from domestic
corporations which are deductible under ssctiorj 23(p), and by subtracting
therefrom (a) Ftderal income, war-profits, and excesa-profits taxes paid or
accrued, but not including the surtax imposed by section 351, (6) contributions
or gifts cot otherwise allowed as a deduction to or for the use of donees described
The tax should be paid by sending or bringing with the return R eboj-k or
money order drawn to the order o* "Collector of internal Revenue at (insert
name and city and State)." Do not send cash by mail, nor pay it in person
except at the collector's office.
exchanges of capital assets which are di&aliowed aa a deduction by section
117(d). The foreign tax credit permitted by section 131 with respect to the
taxes imposed by Title I is not allowed with respect to the surtax imposed by
section 351. However, the deduction of foreign taxes under section 23 (c) a
permitted for the purposes of tho surtax even if for the purposes of the corporate tax imposed by Title- I a credit for such taxes is taken.
prescribed for filing the return, the second installment shall be paid on or before
the fifteenth day of the third month, the third installment on or before the
fifteenth day of tho sixth month, and the- fourth installment on or before the
fifteenth day of tho ninth month, after the data prescribed for paying the first
installment,
If an;
Tho "undistributed adjusted net income" is computed hy subtracting from
the "adjusted net income" described above, (a) an amount equal to 20 percent
of the excess of the adjusted net income over tho amount of dividends received
from personal holding co-Dp&me3 which s.re allowably as a deduction for the
purpose of tho fax imposed bv section 13 or 204, (6) reasonable amounts used
or set aside to retire indebtedness incurred by ths taxpayer prior to January 2,
For willful failure to make, and file return on time,—Not more than $10,000
or irnDrisonnieQt for not more ttuin one yesr, or both, fled in addition 6 Xo 25
percent of the amount of the tax.
10. PAYMENT OF TAXES
The total amount of tax may be paid when the return is filed or in four equal
11. PENALTIES
For willfully making a false or fraudulent return.—Not more than $10,000 or
The credit aff&inpt net income for certain interest received upon obiig&tiojjs
of the United States, or of corporations organized under act of Congress, is not
allowable for purposes of the surtax.
If, pursuant to a bona fide plan for the retirement of its bonds, debentures,
cr similar obligations representing indebtedness incurred prior to January 1,
1934, for the purpose of raising capital (or assumed prior to that date in connection with the acquisition of capital assets by which auch indebtedness is
(1) retires during the taxable year an amount of such indebtedness, or
(2) establishes a sinking fund or reserve for the retirement of such indebtedness during the taxable year, and sets aside in such fund or reserve
an amount for the retirement of such indebtedness—
in determining the undistributed adjusted net income for the taxable year, a
deduction from the adjusted net income is allowable in a reasonable amount
in reepect of the amount so paid or set aside in such fund or reserve during the
The amount allowable as a deduction in any case must be reasonable, considering the nature, purposes, scope, conditions, amount, maturity, and other terms
cf the indebtedness. No deduction is allowable unless it appears; either from
the covenants of the obligations or from a recognized business and accounting
practice respecting the retirement of such indebtedness, that provision for retire-
—Interest o
For deficiency I
i deficiei cy a'; 6 percent per
g of a
waiver of the restrictions on assessment and collection, whichever date is the
earlier, and in addition 5 percent of the amount cf tho deficiency if due to negligence or intentional disregard of rules and regulations without intent to
defraud, or 50 percent of the amount of the deficiency if due to fraud.
12. PAYMENT OF SURTAX ON PRO RATA SHARES
The surtax imposed by section 351 does not apply to any taxable year if every
shareholder includes, at the time of fiiing his return, in his gross income his
entire pro rata share of the adjusted net income of the corporation for the taxable
year of such corporation ending with or during his taxable year. See section
351 (d) of the Revenue Act of 1934. In such event a return on this form must
be made but only items 1 to 9 end Schedule D need be filled in.
INDEX
A
Accounts and notes payable:
Page
Consolidated returns
19
Industrial groups
52-59
Industrial groups and total assets classes
66-83
Returns with net income and with no net income
12
Total assets classes
60-65
Years, 1926 to 193525
Accounts and notes receivable:
Consolidated returns
18
Industrial groups
52-59
Industrial groups and total assets classes
66-83
Returns with net income and with no net income
12
Total assets classes
60-65
Years, 1926 to 1935
25
Aerial transportation
37
Affiliated corporation returns. (See Consolidated returns, railroads.)
Agricultural machinery and equipment, manufacture of
36
Agriculture and related industries:
Assets and liabilities classified
52
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions classified
40, 44, 48, 52
Industrial subgroups
34
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6, 14-15, 34
Total assets classes
66
Years, 1926 to 1935
84
Airplanes, seaplanes, etc., manufacture of
37
Amended returns, text
2
Amusements—Theaters, motion-picture producers, motion-picture theaters, circuses, race tracks, etc
38
Anthracite coal, mining
34
Assets:
Capital. (See Capital assets.)
Consolidated returns.
18—19
Industrial groups
52-59
Industrial groups and total assets classes
66—83
Returns with net income and with no net income
12, 16
Text
11-14
Total assets classes
16, 60-65
Years, 1926 to 1935
25
Automobiles, manufacture of. (See Motor vehicles, complete or parts.)
Autobus lines, taxicabs, etc
37
B
Bad debts:
Consolidated returns
18
Industrial groups
40—59
Submitting and not submitting balance sheets
11
Total assets classes
60-65
Years, 1926 to 1935, all returns
23-24
Years, 1931 to 1935, with balance sheets
26
Bakery and confectionery products, manufacture of
34
Banking and related industries
39
Beer, manufacture of (see also Liquors)
35
Beverages, soft drinks, manufacture of; distilling, etc
35
Bituminous coal, lignite, peat, mining of
34
Blast furnaces, steel mills, rolling mills, products of, etc., manufacture of__
36
78019—38
9
125
126
INDEX
Bonded debt and mortgages:
Consolidated returns
Industrial groups
Industrial groups and total assets classes
Returns with net income and with no net income
Total assets c]asses
Years, 1926 to 1935
Bone, celluloid, and ivory products, manufacture of
Boots, shoes, slippers, etc., manufacture of:
Leather
Rubber
Brokers, stock and bond, etc
Building and construction above ground and under ground
Building materials and supplies (metal), manufacture of
Business service—Detective bureaus, trade shows, etc
Bus lines (see also Autobus lines)
Page
19
52-59
66-83
12
60-65
25
35
,
35
35
39
37
36
39
37
C
Canned products—Fish, fruit, vegetables, etc., manufacture of
34
Capital assets—Land, buildings, and equipment:
Consolidated returns
19
Gross capital assets, by industrial groups
14-15
Industrial groups
52-59
Industrial groups and total assets classes
„_ 66-83
Net capital assets by industrial groups
14r-15
Reserves for depreciation and depletion (except on land), by industrial
groups
14-15
Returns with net income and with no net income
12
Text
15-16
Total assets classes
60-65
Years, 1926 to 1935
25
Capital net gain. (See Net capital gain.)
Capital net loss. (See Net capital loss.)
Capital stock:
Consolidated returns
19
Industrial groups
52-59
Industrial groups and total assets classes
66-83
Returns with net income and with no net income
12
Total assets classes
60-65
Years, 1926 to 1935
25
Carpets, floor coverings, etc., manufacture of
35
Cartage and storage
37
Cash:
Consolidated returns
18
Industrial groups
52-59
Industrial groups and total assets classes
66-83
Returns with net income and with no net income
12
Total assets classes
60-65
Years, 1926 to 1935
25
Cash dividends paid:
Consolidated returns
18
Increase, 1935 over 1934
8-9
Industrial groups
40-51, 52-59
Industrial groups and total assets classes
66-83
States
33
Submitting and not submitting balance sheets
11
Total assets classes
60-65
Years, 1922 to 1935
9
Chemicals and allied products, manufacture of:
Assets and liabilities classified
56
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions, classified
42, 46, 50, 56
Industrial subgroups
36
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
75-76
Years, 1926 to 1935
86
INDEX
127
Page
Chemicals and allied products not separately classified—Drugs, oils, paints,
soaps, etc., manufacture of
36
Chemicals proper, acids, compounds, etc., manufacture of
36
Clay and related products, manufacture of (see also Stone, clay, glass, and
related products)
36
Clothing, manufacture of
.
35
Coal mining (anthracite and bituminous)
34
Commission trade
.
38
Common stock:
Consolidated returns
19
Industrial groups
„
52-59
Industrial groups and total assets classes
66-83
Returns with net income and with no net income
12
Total assets classes,
60-65, 66-83
Years, 1926 to 1935
25
Common carrier by railroad, defined
„
17
Comparability with previous reports, text
_„_
4
Compensation of officers:
Consolidated returns
18
Industrial groups
Submitting a n d not submitting balance sheets
Text
Total assets classes
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Compiled deductions. (See Deductions.)
Text
Compiled net profit (or net loss):
Consolidated returns
40—59
11
10
60-65
23-24
26
10
18
Industrial groups
40-59
Industrial groups and total assets classes
66-83
Submitting and not submitting balance sheets
11
Text
10
Total assets classes
60-65
Years, 1926 to 1935, all returns
. . _ . 23-24
Years, 1931 to 1935, with balance sheets
26
Compiled receipts. (See Receipts.)
Text
_I
»
9-10
Consolidated returns, railroads:
Assets and liabilities classified
18-19
Common carriers by railroad, defined
.
17
Dividends paid
18
Limitation of privilege of
filing
17
Rate of tax
17
Receipts and deductions
17-18
Returns with net income and with no net income
17-18
Tax, amount
18
Text
.
17
Construction:
Assets and liabilities classified
57
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions, classified
43, 47, 51, 57
Industrial subgroups
37
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
79
Years, 1926 to 1935
87
Construction, underground and on surface—bridge building, water-front
construction, etc
37
Cost of goods sold:
Consolidated returns
18
Industrial groups
40-59
Submitting and not submitting balance sheets
11
Text
10
Total assets classes
60-65
128
INDEX
Cost of goods sold—Continued.
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Cost of operations:
Consolidated returns
Industrial groups
Submitting and not submitting balance sheets
Text
Total assets classes
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Cotton goods—dress goods, plain cloth, etc., manufacture of
Credits:
Income and profits tax paid foreign countries
23-24
26
18
_ 40-59
11
10
60-65
23-24
26
35
8
D
Debt, bonded. (See Bonded debt and mortgages.)
Debts, bad. (See Bad debts.)
Deductions:
Consolidated returns
Industrial groups
Returns with net income and with no net income
States
Submitting and not submitting balance sheets
Special deductions allowed life insurance companies
Text
Total assets classes
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Deficit:
Consolidated returns
Deficit classes
Deficit classes, by years
Excess-profits tax on returns showing deficit (note 3)
Fiscal and part year returns
Industrial groups
Industrial subgroups
Industrial groups by total assets classes
Industrial groups by years, 1926 to 1935
States
States, by years, 1926 to 1935
Submitting and not submitting balance sheets
Text
Total assets classes
Years, 1916 to 1935
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Years, 1932 to 1935, deficit classes
Depletion:
Consolidated returns
Industrial groups
Reserves for
Submitting and not submitting balance sheets
Total assets classes
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Depreciation:
Consolidated returns
Industrial groups
Reserves for
Submitting and not submitting balance sheets
Total assets classes
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Dividends paid:
Consolidated returns
Increase, 1935 over 1934
18
5-6, 40-59
18
32-33
11
5
2
60-65
23-24
26
18
7
23
5
19-20
6, 40-59
34-39
66-83
84-88
33
89-99
11
2
16, 60-65
22
23-24
26
23
18
40-59
14-15
11
60-65
23-24
26
18
40-59
14-15
11
60-65
23-24
26
18
8-9
INDEX
Dividends paid—Continued.
Industrial groups
Industrial groups and total assets classes
States
Submitting and not submitting balance sheets
Text
Total assets classes
Years, 1922 to 1935, cash and stock
Dividends received:
Consolidated returns
Industrial groups
Submitting and not submitting balance sheets
Total assets classes
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Domestic service—Laundries, restaurants, etc
Drugs, etc., manufacture of (see also Allied chemical substances)
129
Pago
40-59
66-83
33
11
8-9
60-65
9
17
40-59
11
60-65
23-24
26
38
36
E
Electric light and power companies
Electric railways, etc
Electrical machinery and equipment, manufacture of
Excess-profits tax. (See Income and excess-profits taxes.)
37
37
36
F
Factory machinery, etc., manufacture of
Farming—cotton, grain, stock, etc
Fertilizers, manufacture of_
Finance:
Assets and liabilities, classified
„
Capital assets, gross and net
Compiled receipts and compiled deductions classified
Industrial subgroups
Reserves for depreciation and depletion
Returns with net income and with no net income
Special deduction allowed life insurance companies
.
Total assets classes
Years, 1926 to 1935
Fiscal year returns:
Month in which fiscal year ended:
Returns with net income and with no net income
Net income and deficit classes:
Returns with net income and with no net income
Tax liability and collections
Text
Fishing. (See Forestry, fishing, etc.)
Food and kindred products, manufacture of:
Assets and liabilities, classified
Capital assets, gross and net
Compiled receipts and compiled deductions, classified
Industrial subgroups
Reserves for depreciation and depletion
.
Returns with net income and with no net income
Total assets classes
Years, 1926 to 1935
Foreign taxes—Income and profits taxes paid foreign countries:
Text
.
Years, 1925 to 1935
Forest products, manufacture of:
Assets and liabilities, classified
Capital assets, gross and net
Compiled receipts and compiled deductions, classified
Industrial subgroups
Reserves for depreciation and depletion
Returns with net income and with no net income
36
34
36
59
14-15
43, 47, 51, 59
39
14-15
5-6
4-5
82
88
19
20
2-3
19
53
14-15
41, 45, 49, 53
34
14-15
5-6
68-69
84
8
8
55
14-15
41, 45, 49, 55
35
14-15
5-6
130
INDEX
Forest products, manufacture of—Continued.
Total assets classes
Years, 1926 to 1935
Forestry, fishing, ice harvesting, etc
Forms:
1120, Corporation income and excess-profits tax return
1120L, Insurance company income tax return
1120H
Fur (see also Textiles not elsewhere classified)
Furniture, etc., manufacture of
Page
73
85
34
110-115
116-119
120-123
35
35
G
Gas companies, artificial and natural
37
Geographic distribution of returns, text
3
Glass and related products, manufacture of. (See Stone, clay, glass, and
related products.)
Gross income:
Industrial groups
5-6
Industrial subgroups
34-39
Industrial groups, by years, 1926 to 1935
84-88
States
32-33
States, by years, 1926 to 1935
89-99
Text
2
Years, 1916 to 1935
21
Gross receipts from operations:
Consolidated returns
17
Industrial groups
40-59
Industrial groups and total assets classes
66-83
Submitting and not submitting balance sheets
11
Total assets classes
60-65
Years, 1926 to 1935, all returns
23-24
Years, 1931 to 1935, with balance sheets
26
Gross sales:
Consolidated returns
17
Industrial groups
40-59
Industrial groups and total assets classes
66-83
Submitting and not submitting balance sheets
11
Total assets classes
60-65
Years, 1926 to 1935, all returns
23-24
Years, 1931 to 1935, with balance sheets
26
H
Hardware, tools, etc., manufacture of
Historical summaries:
Assets and liabilities, 1926 to 1935
Compiled receipts and compiled deductions:
1926 to 1935, all returns
1931 to 1935, with balance sheets
Industrial groups, 1926 to 1935
Net income and deficit classes, 1932 to 1935
States, 1926 to 1935
Text
Years, 1909 to 1935 (gross, net or deficit, and tax)
Holders and lessors:
Agriculture and related industries
Mining and quarrying
Transportation and related activities
Holding companies. (See Personal holding companies.)
Horticulture (see also Farming)
Household machinery and equipment, manufacture of
36
25
23-24
26
84-88
22-23
89-99
20-21
21-22
34
34
37
»
34
36
I
Income and excess-profits taxes:
Amount and percent
Compared with tax collections
4
2-3
INDEX
131
Income and excess-profits taxes—Continued.
Consolidated returns
18
Excess-profits tax:
Returns with net income
7
Returns with no net income
7
Fiscal year returns
19-20
Foreign countries, paid to
8
Industrial groups
6, 40-59
Industrial subgroups
34-39
Industrial groups by years, 1926 to 1935
84-88
Net income classes
7
Part year returns
20
Rates
„_.„_„_ 102-105
States
32
States, by years, 1926 to 1935
89-99
Submitting and not submitting balance sheets
11
Text
4
Total assets classes
.
60-65
Years, 1909 to 1935
22
Income and profits taxes paid foreign countries:
Text
,
8
Years, 1925 to 1935
8
Industrial classification, text
3
Industrial groups:
Assets and liabilities classified
52-59
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions classified
40-59
Dividends paid
40-59
Industrial subgroups (number, gross income, net income or deficit, and
tax)
34-39
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
66-83
Years, 1926 to 1935
84-88
Instruments, musical, professional, scientific, etc., manufacture of
37
Insurance companies, life, etc.:
Special deductions allowed life insurance companies
4-5
Interest paid:
Consolidated returns
18
Industrial groups
40-59
Submitting and not submitting balance sheets
11
Total assets classes
60-65
Years, 1926 to 1935, all returns
,___ 23-24
Years, 1931 to 1935, with balance sheets
26
Interest received:
Consolidated returns
17
Industrial groups
40-59
Tax-exempt obligations
11, 17, 23-24, 26, 40-59
Submitting and not submitting balance sheets
11
Total assets classes
60-65
Years, 1926 to 1935, all returns
23-24
Years, 1931-1935, with balance sheets
26
Inventories:
Consolidated returns
.
-__
18
Industrial groups
52-59
Industrial groups and total assets classes
66-83
Returns with net income and with no net income
12
Total assets classes
60-65
Years, 1926 to 1935
25
Investments, tax-exempt and other than tax-exempt:
Consolidated returns
18
Industrial groups
52-59
Returns with net income and with no net income
12
Total assets classes
60-65
Years, 1926 to 1935
25
Investment trusts, stock syndicates, stock pools, holding companies
39
Iron and steel—products of blast furnaces, rolling mills, etc
36
132
INDEX
Page
Jewelry, manufacture of; precious metal products and processes
Joint stock land banks
36
39
K
Knit goods—sweaters, hosiery, etc., manufacture of
35
L
Land, buildings and equipment. (See Capital assets.)
Leather and its manufactures:
Assets and liabilities, classified
55
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions, classified
41, 45, 49, 55
Industrial subgroups
35
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
71-72
Years, 1926 to 1935
85
Leather, finishing, tanning, etc. (see also Other leather products)
35
Lessors and holders. (See Holders and lessors.)
Liabilities:
Consolidated returns
19
Industrial groups
52-59
Industrial groups and total assets classes
66-83
Returns with net income and with no net income
12
Text
11-13
Total assets classes
60-65
Years, 1926 to 1935
25
Life insurance, mutual or stock companies
39
Special deductions allowed
4-5
Liquors and beverages (alcoholic and nonalcoholic), manufacture of:
Assets and liabilities classified
53
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions classified
41, 45, 49, 53
Industrial subgroups
35
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
69
Years, 1933 to 1935
84
Loan companies—building and loan, mortgages, note or pawn brokers,
insurance agents, etc
39
Locomotives and railroad equipment, manufacture of
36
M
Machinery, manufacture of:
Agricultural
36
Building (see also Miscellaneous machinery)
36
Construction (see also Miscellaneous machinery)
36
Electrical
36
Factory
36
Household
36
Mining (see also Miscellaneous machinery)
36
Manufacturing:
Assets and liabilities classified
53-57
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions classified
40-43,
44-47, 48-51, 53-57
Industrial subgroups
34-37
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
67-78
Years, 1926 to 1935
84-87
Manufacturing not elsewhere classified:
Assets and liabilities classified
57
Capital assets, gross and net
14-15
INDEX
Manufacturing not elsewhere classified—Continued.
Compiled receipts and compiled deductions classified
Industrial subgroups
Reserves for depreciation and depletion
Returns with net income and with no net income
Total assets classes
Years, 1926 to 1935
Metal building material and supplies, etc., manufacture of
Metal mining—iron, copper, lead, zinc, gold, silver, etc
Metal and its products, manufacture of:
Assets and liabilities classsified
Capital assets, gross and net
Compiled receipts and compiled deductions classified
Industrial subgroups
Reserves for depreciation and depletion
Returns with net income and with no net income
Total assets classes
Years, 1926 to 1935
Mill products—bran, flour, etc., manufacture of
Mining and quarrying:
Assets and liabilities classified
Capital assets, gross and net
Compiled receipts and compiled deductions classified
Industrial subgroups
Reserves for depreciation and depletion
Returns with net income and with no net income
Total assets classes
Years, 1926 to 1935
Mortgages. {See Bonded debt and mortgages.)
Motion-picture producers
Motion-picture theaters
Motor vehicles, complete or parts, manufacture of
Musical, professional, and scientific instruments, etc., manufacture
N
National banks
National Industrial Recovery Act, reference to
Nature of business not given:
Assets and liabilities classified
Capital assets, gross and net
Compiled receipts and compiled deductions classified
Reserves for depreciation and depletion
Returns with net income and with no net income
Total assets classes
Years, 1926 to 1935
Net capital gain:
Consolidated returns
Industrial groups.
Submitting and not submitting balance sheets
Total assets classes
.
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Net capital loss:
Consolidated returns
Industrial groups
Submitting and not submitting balance sheets
Total assets classes
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Net income:
Amount and percent, 1934 and 1935
Consolidated returns
Fiscal year returns
Industrial groups
Industrial subgroups
Industrial groups and total assets classes
Industrial groups, by years, 1926 to 1935
133
Page
43, 47, 51, 57
37
14-15
5-6
78
87
36
34
57
14-15
43, 47, 51, 57
36-37
14-15
5-6
77
86
34
53
14-15
40, 44, 48, 53
34
14-15
„
5-6
67
84
of
38
38
36
37
39
1, 102-103
59
14-15
43, 47, 51, 59
14-15
5-6
83
88
17
40-59
11
60-65
23-24
26
18
40-59
11
60-65
23-24
26
4
18
19-20
5, 40-59
34-39
66-83
84-88
134
INDEX
Net income—Continued.
Page
Net income classes
7
Net income classes, by years.
22
Part vear returns
20
States
32
States, by years, 1926 to 1935
89-99
Submitting and not submitting balance sheets
11
Text
2
Total assets classes
16, 60-65
Years, 1909 to 1935
22
Years, 1926 to 1935, all returns
23-24
Years, 1931 to 1935, with balance sheets
26
Years, 1932 to 1935, net income classes
22
Notes and accounts payable. {See Accounts and notes payable.)
Notes and accounts receivable. {See Accounts and notes receivable.)
Number of returns:
Assets and liabilities, classified
12, 18
Comparison, 1934 and 1935
4
Consolidated returns
17-18
Fiscal year returns:
Returns with net income and no net income:
Month in which fiscal year ended
19
Net income and deficit classes
20
Industrial groups
5, 40-59, 66-83
Industrial subgroups
34-39
Industrial groups, by years, 1926 to 1935
84-88
Net income and deficit classes
7, 13, 22-23
Part year returns
20
Returns with net income and with no net income
12
States
32-33
Submitting and not submitting balance sheets
11
Total assets classes
16, 60-65
Years, 1932 to 1935, net income and deficit classes
22-23
Years, 1909 to 1935
21
Years, 1926 to 1935, assets and liabilities
25
Years, 1926 to 1935, receipts and deductions, all returns
23-24
Years, 1931 to 1935, receipts and deductions, with balance sheets
26
Years, 1926 to 1935, by States
89-99
O
Obligations of the United States and its instrumentalities. {See Taxexempt investments.)
Office equipment, etc., manufacture of
36
Oil and gas production
34
Oil refining {see also Petroleum and other mineral oil refining)
36
Other assets and liabilities
12, 25, 52-65
Consolidated returns
18-19
Text
13
Other deductions
11, 23, 24, 26, 52-65
Consolidated returns
18
Other receipts
11, 23, 24, 26, 52-65
Consolidated returns
17
P
Packing-house products—fresh meats, hams, etc., manufacture of
34
Paints, pigments, varnishes, etc., manufacture of _
36
Paper, pulp, and products, manufacture of:
Assets and liabilities classified
55
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions classified
42, 46, 50, 55
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
74
Years, 1926 to 1935
86
Part year returns
20
Text
20
INDEX
135
Personal holding company returns:
Page
Adjusted net income
27-30
Contributions or gifts
29
Credits
29
Debt retirement
29
Deductions
29
Dividends paid
29
Dividends received
29
Foreign tax paid
29
Form 1120-H
120-123
Income and profits tax paid to United States and foreign countries, not
deductible on Form 1120
29
Losses from sale of capital assets
29
Number of returns:
Returns with net income and with no net income on Form 1120_
29
With adjusted net income by adjusted net income classes
30
Receipts
29
Surtax
28-29
Surtax rates, Revenue Act of 1934
103
Text
27-28
Undistributed adjusted net income
27-30
Petroleum and other mineral oil refining
36
Pipe line companies
37
Precious-metal products and processes; jewelry, etc., manufacture of
36
Preferred stock:
Consolidated returns
19
Industrial groups
52-59
Industrial groups and total assets classes
66-83
Returns with net income and with no net income
12
Total assets classes
60-65
Years, 1926 to 1935
25
Printing, publishing, and allied industries:
Assets and liabilities classified
56
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions classified
42, 46, 50, 56
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
75
Years, 1926 to 1935
86
Professional service—curative, educational, legal, etc
39
Public utilities. (See Transportation and other public utilities.)
Pullman cars (see also Electric railways)
37
Pulp and products, manufacture of (see also Paper, pulp, and products)
35
Q
Quarrying.
(See Mining and quarrying.)
R
Radio broadcasting companies
38
Radios, complete or parts, manufacture of
37
Railroads, consolidated returns of affiliated corporations
17-19
Railroads, steam
.
37
Railways, electric
37
Railroad equipment, manufacture of (see also Locomotives and railroad
equipment)
36
Rayon goods, manufacture of (see also Silk and rayon goods, etc.)
35
Real estate and realty holding companies, etc
39
Receipts, compiled:
Consolidated returns
17
Industrial groups
40-59
Industrial groups and total assets classes
66-83
Submitting and not submitting balance sheets
11
Text
9-10
Total assets classes
60-65
Years, 1926 to 1935, all returns
24
Years, 1931 to 1935, with balance sheets
26
136
INDEX
Rent paid on business property:
*as«
Consolidated returns
18
Industrial groups
40-59
Submitting and not submitting balance sheets
11
Total assets classes
60-65
Years, 1926 to 1935, all returns
23-24
Years, 1931 to 1935, with balance sheets
26
Rents received:
Consolidated returns
17
Industrial groups
40-59
Submitting and not submitting balance sheets
11
Total assets classes
60-65
Years, 1926 to 1935, all returns
23-24
Years, 1931 to 1935, with balance sheets
26
Reserves for depreciation and depletion:
Major industrial groups
14-15
Text
14
Restaurants, hotels, etc
38
Retail trade
3&
Returns tabulated, text
1
Revenue Acts of 1909 to 1934, income and excess-profits tax rates, credits
and exemptions
101-105
Rubber products, manufacture of:
Assets and liabilities classified
55
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions classified
41, 45, 49, 55
Industrial subgroups
35
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
72-73
Years, 1926 to 1935
85
S
Sales, gross. (See Gross sales.)
Sawmill and planing mill products, manufacture of
35
Securities, wholly and partially tax-exempt. (See Tax-exempt investments.)
Service—domestic, professional, business, amusements, and all other:
Assets and liabilities classified
59
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions classified
43, 47, 51, 59
Industrial subgroups
38-39
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
81
Years, 1926 to 1935
87
Shipbuilding and repairing
37
Shoes, slippers, etc., manufacture of
35
Silk and rayon goods, etc., manufacture of
35
Soft drinks—cider, mineral waters, etc., manufacture of
35
State and private banks
39
States and Territories:
Geographic distribution, text
3
Gross income, deductions, net income, tax and dividends paid-..
32-33
Years, 1926 to 1935 (number with net and no net, gross income, net
income, deficit, and tax)
89-99
Steam railroads, etc
37
Steel and its products
36
Stock and bond brokers, investment brokers, investment banks, etc
39
Stock dividends paid:
Consolidated returns
18
Increase, 1935 over 1934
8
Industrial groups
40-59
States
32-33
Submitting and not submitting balance sheets
11
Total assets classes
60-65
Years, 1922 to 1935.
9
INDEX
137
Stone, clay, glass, and related products, manufacture of:
Page
Assets and liabilities classified
57
Capital assets, gross and net
14-15
Compiled receipts and compiled deductions classified
42, 46, 50, 57
Reserves for depreciation and depletion
14-15
Returns with net income and with no net income
5-6
Total assets classes
76-77
Years, 1926 to 1935
86
Sugar—beet, cane, maple, etc., manufacture of
34
Surplus and undivided profits:
Consolidated returns
19
Industrial groups
52—59
Industrial groups and total assets classes
66-83
Returns with net income and with no net income
12
Total assets classes
60-65
Years, 1926 to 1935
25
Synopsis of Federal income and profits tax rates, credits and exemptions. 101-105
T
Tax credit. (See Credit.)
Taxes. (See Income and excess-profits taxes.)
Taxes, back
Taxes paid other than income tax:
Consolidated returns
Industrial groups
Submitting and not submitting balance sheets
Total assets classes
Years, 1926 to 1935, all returns
Years, 1931 to 1935, with balance sheets
Tax-exempt investments, and other than tax-exempt:
Consolidated returns
Industrial groups
Returns with net income and with no net income
Text
Total assets classes
Years, 1926 to 1935, with balance sheets
Tax forms, 1120, 1120 L, and 1120 H, for 1935
Tax liability and collections
Tax paid a t source, text
Telephone and telegraph companies
Terminal stations, toll bridges, toll roads, etc
Textiles and their products, manufacture of:
Assets and liabilities, classified
Capital assets, gross and net
Compiled receipts and compiled deductions, classified
Industrial subgroups
Reserves for depreciation and depletion
Returns with net income and with no net income
Total assets classes
.
Years, 1926 to 1935
Theaters, legitimate, vaudeville, etc
Tires and tubes, etc., manufacture of
Tobacco products, manufacture of:
Assets and liabilities, classified
Capital assets, gross and net
Compiled receipts and compiled deductions, classified
Reserves for depreciation and depletion
Returns with net income and with no net income
Total assets classes
Years, 1926 to 1935
Trade:
Assets and liabilities, classified
Capital assets, gross and net
Compiled receipts and compiled deductions, classified
Industrial subgroups
Reserves for depreciation and depletion
Returns with net income and with no net income
3
18
40-59
11
60-65
23-24
26
18
52—59
12
13
60-65
25
110-123
2-3
2
37
38
54
14-15
41, 45, 49, 54
35
14—15
5-6
71
85
38
35
.
54
14-15
41, 45, 49, 54
14-15
5-6
70
85
59
14-15
43, 47, 51, 59
38
14-15
5-6
138
INDEX
Trade—Continued.
Total assets classes
Years, 1926 to 1935
Transportation and other public utilities:
Assets and liabilities, classified
Capital assets, gross and net
Compiled receipts and compiled deductions, classified
Industrial subgroups
Reserves for depreciation and depletion
Returns with net income and with no net income
Total assets classes
Years, 1926 to 1935
Trust companies, savings banks, etc
Page
80-81
87
58
14-15
43, 47, 51, 58
37-38
14-15
5-6
79-80
87
39
U
Undivided profits.
(See Surplus and undivided profits.)
W
War-profits and excess-profits tax:
Amounts, years 1917 to 1922; 1933 to 1935
Water companies
Water transportation
Wholesale and retail trade
Wholesale trade
Wines, beer, malt extract, etc., alcohol, manufacture of
Wood products, manufacture of
Woolen and worsted goods, manufacture of
O
22
38
37
38
38
35
35
35
@FedFRASER