SOI Tax Stats - SOI Bulletin: Summer 2011


Statistics of Income (SOI) Bulletin - Summer 2011 PDF

Sole Proprietorship Returns, 2009 PDF

by Jason Paninos and Scott Hollenbeck

For Tax Year 2009, nearly 22.7 million individual income tax returns reported nonfarm sole proprietorship activity, a 0.2-percent increase from 2008. Between Tax Years 2008 and 2009, reported profits for those sole proprietorships declined by 7.4 percent to $244.8 billion. In constant dollars, reported profits decreased for the fourth consecutive year, by 8.3 percent, after decreasing 7.7 percent between 2007 and 2008, 2.0 percent between 2006 and 2007, and 0.2 percent between 2005 and 2006. This was the first time that profits (in constant dollars) have decreased for 4 consecutive years since before 1988.

Excel Tables: 1 XLS, 2 XLS

Related Link: Nonfarm Sole Proprietorship Statistics

Foreign-Controlled Domestic Corporations, 2008 PDF

by James R. Hobbs

Foreign-controlled domestic corporations (FCDCs) accounted for only 1.1 percent of all U.S. corporation income tax returns filed for Tax Year 2008. However, they accounted for 15.3 percent of receipts and 14.2 percent of assets reported on all corporate returns filed for that tax year. FCDCs reported $4.4 trillion of total receipts for 2008. Manufacturers produced $2 trillion of receipts, wholesalers accounted for $1 trillion, and finance and insurance companies tallied $0.5 trillion.

Excel Tables: 1 XLS, 2 XLS, 3 XLS, 4 XLS

Related Link: Foreign-Controlled Domestic Corporation Statistics

Interest-Charge Domestic International Sales Corporations, Tax Year 2008 PDF

by Daniel S. Holik

There were 1,917 active Interest-Charge International Sales Corporation (IC-DISC) returns filed for Tax Year 2008. IC-DISC export gross receipts, one measure of overall IC-DISC export activity, increased by 89 percent from $19,286 million for Tax Year 2006 to $36,528 million for Tax Year 2008. Net income (less deficit) rose from $1,731 million for Tax Year 2006 to $3,168 for Tax Year 2008. Actual distributions to IC-DISC shareholders increased 67 percent, from $1,805 million for Tax Year 2006 to $3,013 million for Tax Year 2008.

Related Link: Interest-Charge Domestic International Sales Corporation Statistics


Corporate Foreign Tax Credit, 2007 PDF

by Scott Luttrell

For 2007, 6,675 corporations claimed a total foreign tax credit of $86.5 billion against their U.S. income tax liability. These corporations reported income subject to U.S. tax of $833.9 billion, including $392.5 billion in foreign-source income on which they paid current-year foreign taxes of $99.1 billion. Foreign tax credits plus other credits enabled these corporations to reduce their U.S. income tax from $292.3 billion to $192.8 billion.

Related Link: Corporate Foreign Tax Credit Statistics

Federal Estate Tax Returns Filed For 2007 Decedents PDF

by Brian Raub and Joseph Newcomb

An estimated 36,706 individuals died in 2007 with total gross estates of $2 million or more, the threshold for filing the estate tax return, Form 706. These decedents reported a combined $224.8 billion in total gross estate, with publicly traded stock, investment real estate, and tax-exempt bonds accounting for the largest shares of their combined portfolio.

Related Link: Federal Estate Tax Return Statistics

In the Next Issue

The following articles are tentatively planned for inclusion in the Fall 2011 issue of the Statistics of Income Bulletin, scheduled to be published in November 2011:

  • Individual income tax returns, Tax Year 2009;
  • Partnership returns, Tax Year 2009;
  • Fiduciary income tax returns, Tax Years 2002-2006;
  • Charities and other tax-exempt organizations, Tax Year 2008;
  • Tax-exempt government and private activity bonds, Tax Year 2009;
  • Historical perspective on electronically filed returns;
  • Income and taxes reported on information returns;
  • Personal wealth, 2007

Link: Historical Tables and Appendix