Tuesday, October 5, 2004

The just-released Statistics of Income Bulletin (Summer 2004) includes Corporation Income Tax Returns, 2001, by Patrice Treubert (SOI). Here is the opening:

Corporate pretax profits, or net income (less deficit), reported on income tax returns for 2001 declined significantly from 2000 levels, decreasing 34.9% from $927.5 billion for 2000 to $603.6 billion for 2001. Corresponding to the decrease of pretax profits, total income tax after credits, the amount payable to the U.S. Government, decreased by 18.3%, from $204.0 billion for 2000 to $166.7 billion for 2001.

For related data, see here.