Income Reported From Business Pursuits, Personal Returns by StLouisFed

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									1918



                                         STATISTICS OF INCOME.                                                         11
   do not necessarily indicate the principal occupations of, or the total
   incomes reported by, the persons making the returns.
          Income reported from business pursuits, personal returns, calendar year 1918.

                                                                     Number
                          Industrial groups.                          of busi- Per cent. Net income.             Per cent.
                                                                       nesses
                                                                     reported.

   Agriculture and related industries                                    372,336     38.85     SI,122,532,163         35.93
   Mining and quarrying                                                    8,191       .85         26,626,800           .85
   Manufacturing:
       Food products,liquors, and tobacco..                               12,684      1.32         51,372,373          1.64
       Textile and textile products                                        7,742       .81         43,267,773          1.38
       Leather and leather products                                        2,270       .24         10,105,128           .32
       Rubber and rubber goods                                               631       .07          2,252,545           .07
       Lumber and wood products                                            2,542       .27         11,956,324           .38
       Paper, pulp, and products                                             216       .02          1,419,563           .05
       Printing and publishing                                             5,608       .59         16,415,609           .53
       Chemicals and allied substances                                     1,158       .12          6,989,987           .22
       Stone, clay, and glass products                                     1,290       .13          5,341,292           .17
       Metal and metal products                                            6,211       .65         29,813,576           .96
       All other manufacturing industries...                               4,883       .51         23,433,140           .75
   Construction                                                           18,606      1.94         53,603,201          1.72
   Transportation and other public utilities.                             12,943      1.35         39,079,249          1.25
   Trade.                                                                218,347     22.78        777,905,725         24.90
   Public service—professional, amusements, hotels, etc                  213,700     22.30        678,670,425         21.72
   Finance, banking, insurance, etc                                       30,070      3.14         90,018,896          2.88
   Special cases; individuals whose business is not suffi-
    ciently denned to be classed under any principal
     division                                                             38,951      4.06        133,551,427          4.28

         Total.                                                          958,379    100.00      3,124,355,196        100.00



            PARTNERSHIPS AND PERSONAL SERVICE CORPORATIONS.
      The revenue act of 1918 prescribes that the net income reported
   by partnerships and personal service corporations be not taxable
   to such returns, but that such income shall be included in the returns
   of net income of the individual members or stockholders, according
   to their distributive share, whether distributed or not.
      The number of returns and income reported by these two forms
   of association are shown below.
      The definition of "personal service corporation/' as contemplated
   in the above referred to provision, is given in section 200 of the
   revenue act of 1918:
     The term "personal service corporation" means a corporation whose income is to
   be ascribed primarily to the activities of the principal owners or stockholders who are
   themselves regularly engaged in the active conduct of the affairs of the corporation
   and in which capital (whether invested or borrowed) is not a material income-pro-
   ducing factor * * *.

        Summary statement of returns of partnerships and personal service corporations.

                                                                               Reporting net income.
                                                 Total
                  Classification.               number
                                               reporting.   Number.       Cross income.       Deductions.    Net income.

   Partnerships                                 300,728         91,132    $7,754,340,077     $6,814,458,399 $939,881,678
                                                  3,503          2,997       408,379,927        356,455,974   51,923,953
   Personal service corporations
                                                                     Reporting no net income.
                                                     Total I
                    Classification.
                                                    number Number. Gross income. Deductions.                     Deficit.
                                                   reporting.

   Partnerships                                       100,728       9,596     $583,009,357    $621,516,181      $38,506,824
   Personal service corporations                  j     3,503         506       24,580,935      20,497,177        1,916,242
1919



                                    STATISTICS OF INCOME.

                 INCOME FROM BUSINESS (PERSONAL RETURNS).

     The income reported by individuals as having been derived from
  business pursuits is shown according to industrial divisions in the
  following table. These data represent only such amounts reported
  by individuals as were derived from business operations and do not
  necessarily indicate the principal occupations of, or the total income
  reported by, the persons making the returns.
        Income reported from business pursuits, personal returns, calendar year 1919.

                                                          Number of
                    Industrial groups.                    businesses Per cent.    Net income.     Percent.
                                                          reported.

  Agricultural and related industries               :        418,945    37.26    $1,211,260,562      31.24
  Mining and quarrying                                         7;321      .65        26,624,486        .69
  Manufacturing:
      Food products, liquors, and tobacco                     12,297     1.09        54,555,206       1.41
      Textile and textile products                            11,607     1.03        98,825,170       2.55
      Leather and leather products                             3,442      .31        14,354,299        .37
      Rubber and rubber goods                                   739       .07         4,051,146        .10
      Lumber and lumber products                              2,974       .26        19,738,303        .51
      Paper, pulp, and products                                 437       .04         2,817,322        .07
      Printing and publishing                                  6,115      .54        24,898,887        .64
      Chemicals and allied substances                          1,308      .12         8,723,781        .24
      Stone, clay, and glass products                          1,584      .14         8,671,309        .22
      Metal and metal products                                 8,057      .72        33,120,955        .85
      All other manufacturing industries                       6,928      .62        37,425,769        .97
  Construction                                                27,310     2.43        82,924,184       2.14
  Transportation and other public utilities                   19,563     1.74        63,779,611       1.65
  Trade                                                      254,645    22.65     1,006,377,364      25.95
  Public service—-professional, amusements, hotel, etc       257,554    22.90       852,040,287      21.97
  Finance, banking, insurance, etc                            45,882     4.08       184,105,486       4.75
  Special cases—business not sufficiently defined to be
    classed with any other division                           37,677     3.35       143,256,327       3.68
        Total                                              1,124,385    100.00    3,877,550,454      100.00


                  PARTNERSHIPS AND PERSONAL SERVICE CORPORATIONS.

    The Revenue Act of 1918 prescribes that the net income reported
  by partnerships and personal service corporations be not taxable to
  such returns, but that such income shall be included in the returns of
  net income of the individual members or stockholders, according to
  their distributive share, whether distributed or not.
    The number of returns filed by these two forms of association was:
         Partnerships                                                                    175, 898
         Personal service corporations                                                     4, 758

                 Total                                                                   180,656

                              CORPORATION INCOME-TAX RETURNS.
     In the table below are shown the returns of corporations distributed
  by industrial groups and segregated according to those reporting net
  income and those reporting no net income. In the transportation
  and public-utility group, both gross income and general deductions
  lack approximately $5,000,000,000. This is due to the returns of
  railroad and other utility corporations, to a great extent, reporting
  on the face of the return merely the amount of net income or deficit.
  To have inspected the numerous supporting schedules of these
  returns for the purpose of compiling the gross income and general
  deductions was inexpedient, due to the cost and the additional time
  that it would have required.
1920



                                       STATISTICS OF INCOME.

                   INCOME FROM BUSINESS (PERSONAL RETURNS).

      The income reported by individuals as having been derived from
   business, other than from partnerships or personal service corpora-
   tions, is shown according to industrial divisions in the following
   table. These data represent only such amounts reported by indi-
   viduals as were derived from business operations conducted as sole
   proprietors and do not necessarily indicate the principal occupations
   of, or the total income reported by, the persons making the returns.
          Income reported from business pursuits, personal returns, calendar year 1920.

                                                             Number of
                        Industrial groups.                   businesses Percent.    Net income.     Per cent.
                                                             reported.

   Agriculture and related industries     ,                    271,805     28.19     $637,425,239       19.89
   Mining and quarrying                                          5,276       .55       36,849,969        1.15
   Manufacturing:
      Food products, liquors, and tobacco..                     12,05G      1.25      45,699,342         1.43
      Textile and textile products                              10,937      1.13      49, 503,274        1.54
      Leather and leather products                               4,420       .46      14,238,415          .44
      Rubber and rubber goods                                      785       .08       1, 793,299         .06
      Lumber and wood products                                   3,330       .35      21,108,509          .66
      Paper, pulp, and products                                    268       .03       3,158,938          .10
      Printing and publishing                                    8,017       .83      32,828, 875        1.02
      Chemicals and allied substances                              813       .08       8,102,049          .25
      Stone, clay, and glass products                            2,566       .27      12,173,942          .38
      Metal and' metal products           ,                      8,574       .89      39,140,709         1.22
      All other manufacturing industries...                      8,963                34,155, 200        1.07

        Total manufacturing.                                    60,729      6.30      261,900,552        8.17

   Construction                                                 32,618      3.38      117,316,807       3.66
   Transportation and other public utilities.                   18,978      1.97       58,355,144       1.82
   Trade.                                                      223,931     23. 23     840,755,663      26.23
   Public service—professional, amusements, hotels, etc...     269,045     27.91      952,773,878      29.72
   Finance, banking, insurance, etc                             45,082      4.67      182,417,786       5.69
   Special cases—business not sufficiently denned to be
     classed with any other division                            36,659      3.80      117,760,349       3.67

         Grand total.                                          964,123    100.00    3,205,555,387      100.00


                   PARTNERSHIPS AND PERSONAL SERVICE CORPORATIONS.

      The revenue act of 1918 prescribes that neither the returns filed by
   partnerships nor personal service corporations be taxable, but that
   such income shall be reported for taxation in the returns of net
   income of the individual members or stockholders, according to their
   distributive shares, whether distributed or not.
      The number of returns of net income for 1920 filed by these two
   forms of association was:
   Partnerships                                                                                     240, 767
   Personal service corporations                                                                      5, 542

          Total                                                                                     246, 309

                                  CORPORATION INCOME-TAX RETURNS.
      The table immediately following shows the returns of corporations
   distributed by industrial groups and segregated according to those
   reporting net income and those reporting no net income. In the
   transportation and public utility group, both gross income and
   general deductions should be approximately twice as much as shown.
   This is due to railroad and other utility corporations, to a great
1921



                                        STATISTICS OF INCOME.

                    INCOME FROM BUSINESS (PERSONAL RETURNS).

      The income reported by individuals as having been derived from
   business, other than from partnerships, is shown according to indus-
   trial divisions in the following table. These data represent only such
   amounts reported by individuals as were derived from business
   operations conducted as sole proprietors and do not necessarily
   indicate the principal occupations of, or the total income reported by,
   the persons making the returns.
           Income reported from business pursuits, personal returns, calendar year 1921.

                                                                 Number of
                       Industrial groups.                        businesses Per cent.   Net income.      Per cent.
                                                                 reported.
   Agriculture and related industries                               130,344    16.14     $229,193,235
                                                                      3,871      .48       11,168,718             .47
   Mining and quarrying
   Manufacturing:
       Food products, liquors, and tobacco                           13,481     1.67       48,511,689         2.05
       Textiles and textile products                                 10,410     1.29       33,661,289         1.42
        Leather and leather products                                  3,808      .47        9,481,394          .40
       Rubber and rubber goods                                          565      .07        1,151,797          .05
       Lumber and wood products                                       2,765      .35        9,835,525          .41
       Paper, pulp, and products                                        231      .03        1,217,464          .05
       Printing and publishing                                        7,505      .93       28,537,412         1.21
       Chemicals and allied substances                                1,043      .13        4,459,698          .19
       Stone, clay, and glass products                                1,527      .19        6,158,291          .26
       Metal and metal products                                       6,239      .77       18,238,268          .77
       All other manufacturing industries                             8,345     1.03       25,082,408         1.06
         Total manufacturing                                         55,919     6.93      186,335,235         7.87

   Construction                                                      33,045     4.09      110,027,192         4.65
   Transportation and other public utilities                         23,886     2,95       51,143,3:10        2.16
   Trade                                                            240,486    29.79      712,884,031        30.13
   Public service, professional, amusements, hotels, e t c . ,      231,395    28.66      795,402,958        33.61
   Finance, banking, insurance, etc                         ,        26,688     3.31       96,591,119         4.08
   Special cases, business not sufficiently defined to be
     classed with any other division                                61,740      7.65      173,572,812         7.34
         Grand total                                         ,     807,374    100       2,366,318,610       100



                     PARTNERSHIPS AND PERSONAL SERVICE CORPORATIONS.

     Returns filed by partnerships and personal service corporations
   are not subject to tax as such, the income reported being included
   in the returns of net income filed by the individual members or
   stockholders according to their distributive share, whether distributed
   or not.
      The number of returns of net income for 1921 filed by these two
   forms of association was:
   Partnerships                                                                                          259, 359
   Personal service corporations                                                                           5, 500
           Total                                                                                         264, 859
1922



   10                                    STATISTICS OF INCOME

    The distribution of personal income by sources, expressed in per-
  centages, is given in the succeeding table:
  Distribution of personal income, by sources and by income classes, showing the pro-
         portion from each source expressed in percentages, calendar year 1922
                                                                  Capi-                Inter-
                                                                 tal net               est on
                                                       Profits     gain                 Gov-
                                                        from      from          Inter- ern-
                              Wages                              sale of Rents est and ment
                                              Part- sales of
        Income classes         and Busi-       ner-   real        assets and invest- obliga- Divi- Fidu- Total
                                                                                                          in-
                               sala- ness     ships estate,        held royal- ment tions dends ciary come
                                ries                   stocks       for   ties   in-     not
                                                        and       more          come   wholly
                                                       bonds      than                 empt
                                                                   two                  from
                                                                  years                  tax

  Under $1,000                36.81   18.28    3.42     4.15                10.98    11.64       0.21     13.49     1.02    100.00
  $1,000 to $2,000            79.54    7.54    2.08      .72                 3.77     4.56        .05      1.48      .26    100.00
  $2,000 to $3,000            74.88   10.03    2.69     1.12                 4.33     4.82        .05      1.78      .30    100.00
  $3,000 to $5,000 .          59.80   16.02    4.84     2.50                 5.14     6.72        .02      4.46      .50    100.00
  $5,000 to $10,000           43.97   15.80    7.90     4,79                 6.17     8.49        .22     11.39     1.27    100 00
  $10,000 to $25,000          33.91   11.13    9.90     6. 28                5.65     9.71        .34     20.94     2.14    100.00
  $25,000 to $50,000          25.30    8.44   11.21     6.23      1.13       4.54    10.03        .42     30.11     2.59    100.00
  $50,000 to $100,000         18.79    6.20   12.32     4.36      5.29       3.76     9.70        .44     36.25     2 89    100.00
  $100,000 to $150,000        14.15    4.57   13.57     3.81      7. 91      4.05     9.10        .39     39.19     3.26    100.00
  $150,000 to $300,000         9.48    3.54   13.42     4.38     12. SI      3.15     8.51        .38     40.60     3.73    100.00
  $300,000 to $500,000         6.16    2.87   12. 56    3.22     17.55       2.22     6.59        .56     45.41     2.86    100.00
  $500,000 to $1,000,000...    3.42    1.94    6.69     2.48     25.99       2.32     8.09        .30     45.13     3.64    100.00
  $1,000,000 and over          2.95    1.48    4.23     2.51     32.60       3.04     4.32        .53     46.99     1.30    100.00
         Total                55.06   11.42    5.74     2.98      1.00       4.92    6.99         .14     10.71     1.04    100.00


                         INCOME FROM BUSINESS (PERSONAL RETURNS)
      The income reported by individuals as having been derived from
   business, other than from partnerships, is shown according to indus-
   trial divisions in the following table. These data represent only such
   amounts reported by individuals as were derived from business
   operations conducted as sole proprietors and do not necessarily
   indicate the principal occupations of, or the total income reported by,
   the persons making the returns.
       Income reported from business pursuits, personal returns, calendar year 1922

                                                                      Number
                         Industrial groups                             of busi-      Per cent       Net income           Per cent
                                                                        nesses
                                                                      reported
   Agriculture and related industries.                                    104, 834      11. 57          $231, 289, 998        8.15
   Mining and quarrying                                                     3,006         .33             15,932,045           .56
   Manufacturing:
       Food products, beverages, and tobacco..                             14,419        1.59             50, 247, 515        1.77
       Textiles and textile products                                       11, 022       1.22             38,114, 368         1.35
       Leather and leather products          _.                             3,628         .40              9,735, 514          .34
       Rubber and rubber goods                                                 428        .05              1,688, 845          .06
       Lumber and wood products                                             2,441         .27             13, 550, 649         .48
       Paper, pulp, and products                                               295        .04              1,695,754           .06
       Printing and publishing                                              7,463         .82             28,414, 608         1.00
       Chemicals and allied substances                                      1,025         .11              6, 773,896          .24
       Stone, clay, and glass products                                      2,208         .24             10,051,864           .35
       Metal and metal products                                             8,682         .96             29,046,828          1.02
       All other manufacturing industries                                   7,902         .87             31,064, 881         1.09
         Total manufacturing.                                              59,513        6.57            220,384, 722         7.76
   Construction                                                            39, 543       4.37            146, 265, 967        5.15
   Transportation and other public utilities                               15, 776       1.74             45,991,802          1.62
   Trade                                                                  297,133       32.78            891,372,487         31. 3£
   Public service, professional, amusements, hotels, etc                  263, 592      29.08            911,624,977         32.10
   Finance, banking, insurance, etc                                        32, 745       3.61            129, 520,971         4.56
   Special cases, business not sufficiently defined to be
     classed with any other division                     _.                90, 206       9.95            247,388,175          8.71
         Grand total                   _                                  906, 348     100. 00      2,839, 771,144          100.00
1923



                                            STATISTICS OF INCOME                                                                  9

    The distribution of personal income by sources, expressed in per-
  centages, is given in the succeeding table:
  Distribution of personal income, by sources and by income classes, showing the pro-
         portion from each source expressed in percentages, calendar year 1923

                                                                Capi-                           Inter-
                                                                tal net                         est on
                                                        Profits gam             Inter-           Gov-
                                                         from    from         1
                                                                                  est            ern-
                              Wages
                               and Busi-
                                                         sales
                                                  Part- of real sale of Rents , and
                                                                assets a n d      in-
                                                                                                ment
                                                                                                 obli- Divi- Fidu- Total
         Income classes       sala- ness                estate, held royal- vest-              gations dends ciary come
                               ries               ships stocks    for    ties   ment             not
                                                          and    more             m-           whollv
                                                        bonds1 than             co.uc          exempt
                                                                   two                          from
                                                                   years                         tax
  U n d e r $1,000            37 49    23.13       3.44    2 13               15.10    12 16      0 22      5 67     0 66    100 00
  $1,000 to $2,000            68.29    13.62       2.37                        0.22     6.25       .05      1.97      .39    100. 00
  $2,000 t o $3,000           63 98    16. 55      3.07    1.83                6.36     5 65         04     2 15        37   100 00
  $3,000 to $5,000            45. 97   24.12       5.61    3.08                7.03     7.82       . 10     5.61      .66    100 00
  $5,000 t o $10,000          44.30    15. 52      8. 18   4.53                6.15     8.46       . 17    10.87     1.82    100. 00
  $10,000 t o $25,000         34. 27   11. 19      9.72    6.09                5.21     9.14         29    21.62     2 47    100 00
  $25,000 t o $50,000         25 16     8.40      10 92    5 18     1 37       4 74     9 31         44    31 94     2 54    100 00
  $50,000 to $100,000         18.81     f>. ] 2   10. 69   3. 07    6. 10      3. 73    3S O         47    39.34     2 87    100 00
  $100,000 t o $150,000       14.09     3. 76     11. 04   2.12    10. 08      3. 84    8.00       .37     44.06     2.64    100. 00
  $150,000 t o $300,000       10. 49    3.24       9.13    1. 65   15. 66      2.84     7.91       .44     45.32     8.32    100. 00
  $300,000 t o $500,000        8.14     2.80       6.49    1.12    21.84       2.50     7.11       .54     46.03     3. 43   100. 00
  $500,000 to $1,000,000...    5.43     2. 46      4.33    1.39    23.91       3.18     6.43       .46     47.90     4.51    100. 00
  $1,000,000 a n d over        2.47     1.78        .62     .19    40.51        .43     4.93       .33     47.71     1.03    100. 00

          Total               48.53    16.14       5.74    2.96     1.04       6.20     7.45       .15     10. 66    1.13    100. 00
    1
        Other than capital net gain from sale of assets held for more than two years.

                     INCOME FROM BUSINESS (PERSONAL RETURNS)

    The income reported by individuals as having been derived from
 business, other than from partnerships, is shown according to indus-
 trial divisions in the following table. These data represent only such
 amounts reported by individuals as were derived from business opera-
 tions conducted as sole proprietors and do not necessarily indicate the
 principal occupations of, or the total income reported by, the persons
 making the returns.
        Income reported from business pursuits, personal returns, calendar year 1923
                                                                    Number of
                       Industrial groups                            businesses         Per cent      Net income          Per cent
                                                                     reported

 Agriculture and related industries..                                      185, 446       10.62       $356, 692, 518           7.53
 Mining and quarrying                                                        5,859          .34         18, 330, 506            .39
 Manufacturing:
    Food products, beverages, and tobacco..                                 33,066        1.89            86, 715, 709         1.83
    Textiles and textile products                                           22, 217       1.27            64, 095,483          1.35
    Leather and leather products                                             7,875          .45           16,147,233            .34
    Kubber and rubber goods                                                     733        .04             1,333, 203           .03
   Lumber and wood products.                                                 5,669         .33            20, 999, 643          .45
    Paper, pulp, and products                                                   523        .03             2,633,571            .06
    Printing and publishing                                                 16,187         .93            47, 754, 223         1.01
    Chemicals and allied substances                                          2,443         .14            10, 474,141           .22
   Stone, clay, and glass products                                           3,571         .21            14, 341,955           .30
   Metal and metal products                                                 17, 368        .99            45,116, 085           .95
   All other manufacturing industries                                       20,115        1.15            56,940, 25S          1.20
     Total manufacturing                                                   129, 767       7.43           366,5 1,514          7.74

 Construction                                                               90, 677       5.19         267,049,808            5.65
 Transportation and other public utilities..                                35,150        2.01          81,867,902            1.73
 Trade-                                                                    647,569       37.09      1,617,969,230            34.18
 Public service—Professional, amusements, hotels, etc..                    481, 779      27. 59     1, 530,651,936           32. 34
 Finance, banking, insurance, etc                                           54, 771       3.14         196,827, 833           4.16
 Special cases, business not sufficiently defined to be
  classed with any other division                                          115,126        6.59           297, 092,160         6.28
       Grand total                                                   1, 746,144         100. 00     4, 733, 033,407          100.00

								
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