IRS Reports 1990 Corporation Income Statistics

WASHINGTON - In its latest report of corporation income tax statistics, the IRS reveals that approximately 3.7 million active corporations filed returns for 1990, a 2.4 percent increase over 1989. Total assets increased by 3.1 percent to $18.2 trillion, while total receipts were $11.4 trillion, an increase of 4.3 percent. Net incomes (less deficit) was $370.6 billion, and income subject to tax was $366.4 billion. Total income tax after credits was $96.4 billion, a slight increase of .3 percent over 1989.

This and other detailed information on assets, liabilities, receipts, deduction, net income, income tax liability and tax credits are outlined in IRS's Publication 16, "Statistics of Income--1990 Corporation Income Tax Returns", available now. Information is presented by industry, asset size, business receipts size, accounting period ended, and other selected tabulations. For 1990, the report adds more tables classified by returns with net income and by major group.

The 300 page report is available for $19 form the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402.

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