November 05, 1993
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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