IRS Releases SOI Bulletin for Summer 1993

WASHINGTON - The summer 1993 issue of the quarterly "Statistics of Income Bulletin", are available now, reports that corporate pre-tax profits for tax year 1990 decreased for the second consecutive year. This decrease caused a drop in the regular income tax (before credits) from $132.2 billion to $119.4 billion.

The alternative minimum tax for 1990, however, more than doubled to $8.1 billion, and total credits against regular tax dropped only slightly. The net result was that, despite the economic recession, the total income tax after credits showed a small increase from $96.1 billion to $96.4 billion.

Other articles feature non-filers for 1991, data on corporate alternative minimum tax for 1987-1990, non-resident alien status, and foreign corporations with income effectively connected with a U.S. business for 1989.

The "Statistics of Income Bulletin" is available from the Superintendent of Documents, U.S. Government Printing Office, P.O. Box 371954, Pittsburgh, PA 15250-7954. The annual subscription rate is $23 for four issues; single issues cost $6.50.

For other statistical information, write to the Director, Statistics of Income Division, R:S, Internal Revenue Service, P.O. Box 2608, Washington, DC 20013-2608, dial its electronic bulletin board at (202) 874-0410.

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