IRS Releases 1989 Complete Report on
Corporation Income Tax Data

Corporations filed approximately 3.6 million federal income tax returns for 1989, an increase of 1.8 percent over 1988, according to Statistics of Income--1989, Corporation Income Tax Returns, available now. Total assets reached $17.6 trillion, and total receipts reached $10.9 trillion, each increasing by 6.5 percent over 1988.

The report contains data on assets, liabilities, receipts, deductions, net income, income tax liability, and tax credits, as well as statistics on size of business receipts, size of total income tax after credits, and return types and selected subjects such as alternative minimum tax and general business credit.

The 206 page report is available now from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402-9328. Other statistical information and the Statistics of Income--1989, Corporation Source Book, which contains detailed minor industry data, can be obtained from the Director, Statistics of Income Division, R:S:P, Internal Revenue Service, P.O. Box 2608, Washington, D.C. 20013-2608, or by telephoning the Division at (202) 874-0410.

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