June 26, 1997
IRS Issues Spring 1997
Statistics of Income Bulletin
WASHINGTON - As result of more taxpayers with income of
$50,000 or more, the average tax rate for 1994 individual income tax returns increased to
14.3 percent. Data on the tax rates for 1994 are presented in the Spring 1997 issue of the
Internal Revenue Service quarterly publication, the Statistics of Income Bulletin.
For 1994, the shares of adjusted gross income (AGI) and tax
for taxpayers in the top 5 percent ranked by income size remained at 28 percent for AGI
and 47.5 percent for tax. To be included in the top 5 percent for 1994 required a tax
return to show an AGI of at least $91,226.
Although S Corporations comprised nearly 47 percent of all
corporation income tax returns for 1994, the net income they reported was only 18.2
percent of the total. Over 81 percent of these companies had just one or two shareholders.
For 1993, tax-exempt organizations reported $4.7 billion of
gross unrelated business income from activities not substantially related to their exempt
purposes. About 15,000 of the nearly 33,000 organizations reporting such income also
reported a business income tax liability, which amounted to $180.4 million.
Environmental excise taxes were reported by 2,216 businesses
for 1995 and totaled $1.4 billion after credits and refunds. About 77 percent of the total
was due to the taxes on petroleum and ozone-depleting chemicals. There were 20 businesses
that accounted for 54 percent of the total tax.
Tax-exempt public charities recognized by IRS filed 165,599
returns and reported total revenue of $566 billion. Those not required to file returns
included religious organizations and organizations with annual gross receipts of less than
$25,000. Most of the revenue was program service revenue, the fees collected for the
programs operated in support of the exempt purposes. Over half of total program service
revenue was reported by nonprofit hospitals.
The Statistics of Income Bulletin is available from the
Superintendent of Documents, U.S. Government Printing Office, P.O Box 37194, Pittsburgh,
PA 15250-7954. The annual subscription rate is $33 ($41.25 foreign); single issues cost
$15 ($18.75 foreign). For other statistical information, write the Director, Statistics of
Income (SOI) Division CP:R:S:S:P, Internal Revenue Service, P.O. Box 2608, Washington, DC
20013-2608; dial the SOI electronic bulletin board at (202) 874-9574; check the World Wide
Web at http://www.irs.gov; or telephone the SOI statistical information services
office at (202) 874-0410 (e-mail [email protected]; FAX (202) 874-0964).
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