November 27, 1991
1988 Profits of Foreign-Controlled
U.S. Corporations Reach New High
WASHINGTON - Profits of foreign-controlled U.S. corporations reached $11.2 billion for 1988, twice the $5.6 billion reported for
1987. This is just one of the facts reported in the fall 1991 issues
of the Internal Revenue Service quarterly publication, the
"Statistics of Income Bulletin," available now.
These 42,000 companies also reported $5.8 billion in income tax
for 1988, compared with $4.6 billion the year before. The receipts
they reported amounted to $800 million. Companies controlled by
Japanese businesses accounted for 25 percent of these receipts.
Those controlled by United Kingdom companies accounted for another
Partnerships for 1989 continued to turn around their long-term
trend of net losses, reporting $14.1 billion in profits, slightly
less than the $14.5 billion reported for 1988.
Total revenue reported by nonprofit charitable organizations
was $310.8 billion for 1987, up from $292.5 billion for 1986. Total
expenses were $288.7 billion, 84 percent of which was for the cost
of conducting their programs.
This issue of the Bulletin also presents summary statistics on
the nation's 37,000 private foundations, historical and summary
statistics, individual income tax return data by state for 1989 and
quarterly tax collections and refunds.
The "Statistics of Income Bulletin" is for sale from the
Superintendent of Documents, U.S. Government Printing Office,
Washington, DC 20402. The phone number is (202) 783-3238. The annual
subscription rate is $20 for four issues; single issues cost $7.50.
For other statistics of income information, write to the
Director, Statistics of Income DIvision R:S:P, Internal Revenue
Service, P.O. Box 2608, Washington, DC 20013-2608, or telephone
the statistical information service office at (202) 874-0410.
These numbers are not toll-free.
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