1992 Income Tax Statistics Released

WASHINGTON - The Summer 1995 issue of IRS Statistics of Income Bulletin, released today, reports that average tax per individual tax return for 1992 was $5,491. The average tax rate rose to 13.7 percent, based upon adjusted gross income, the first such increase since 1988. The top five percent of tax returns, 1.1 million of them with adjusted gross income of at least $85,103, accounted for 20 percent of total adjusted gross income and 46 percent of the total income tax for that year.

Total business and investment income for 1992, reported by the nation's 3.9 million corporations, increased 2.7 percent over 1991 to $11.7 trillion. Corporate net income before taxes grew 16.6 percent to a record $402 billion, with the 6,300 largest companies accounting for 79 percent of the total. Rebounding from the 1991 decline, corporation income tax after credits increased from $92.6 billion to $101.5 billion.

Other studies report nonprofit charities' revenue increasing 13 percent to 491 billion, with almost two-thirds reported by the 2,400 largest organizations, and that there were 980 Interest-Charge Domestic International Sales Corporations (IC-DISCs) for 1991.

These and other statistics are included in the IRS' Summer 1995 Statistics of Income Bulletin, available now from the Superintendent of Documents, U.S. Government Printing Office, Pittsburgh, PA 15250-7954. Annual subscriptions to the quarterly Bulletin cost $26. Single issues cost $14.

For other statistical information, write to the Director, Statistics of Income CP:R:S, Internal Revenue Service, P.O. Box 2608, Washington, DC 20013-2608, dial the Statistics of Income electronic bulletin board on (202) 874-9574, or telephone the statistical information desk on (202) 874-0410 (NOT a toll-free call).

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