February 25, 1994
IRS Reports 1990 Corporation Income Statistics
WASHINGTON - In its latest report of corporation income tax
statistics, the IRS reveals that approximately 3.7 million active
corporations filed returns for 1990, a 2.4 percent increase over 1989.
Total assets increased by 3.1 percent to $18.2 trillion, while total
receipts were $11.4 trillion, an increase of 4.3 percent. Net
incomes (less deficit) was $370.6 billion, and income subject to tax
was $366.4 billion. Total income tax after credits was $96.4
billion, a slight increase of .3 percent over 1989.
This and other detailed information on assets, liabilities,
receipts, deduction, net income, income tax liability and tax
credits are outlined in IRS's Publication 16, "Statistics of
Income--1990 Corporation Income Tax Returns", available now.
Information is presented by industry, asset size, business receipts
size, accounting period ended, and other selected tabulations. For
1990, the report adds more tables classified by returns with net
income and by major group.
The 300 page report is available for $19 form the
Superintendent of Documents, U.S. Government Printing Office,
Washington, D.C. 20402.
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