1985 Corporate Tax Returns Released

The 1985 Corporation Income Tax Returns (Publication 16) has been released by the Internal Revenue Service. The 170-page report contains detailed information on assets, liabilities, receipts, deductions, net income, income tax liability, and tax credits. The publication has information by industry, asset size, and size of business receipts.

The Statistics of Income report says approximately 3.3 million corporations filed federal income tax returns for 1985, a 3.4 percent increase from 1984. Total corporate assets reached about $13 trillion in 1985, a 15 percent increase over the previous year. Total corporate income tax rose from $108 to $111 billion in 1985.

The IRS Publication 16 is available from the Superintendent of Documents, U.S. Government printing Office, Washington, DC 20402, for $9.50.

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