Inside This Issue
- Foreign-Controlled Domestic Corporations, Tax Year 2019
- 2019 Corporation Income Tax Returns Line Item Estimates (Publication 5108)
- Exempt Organization Financial Data, Calendar Year 2021
- 2019 Corporation Income Tax Returns Complete Report (Publication 16)
Tables for the Tax Year (TY) 2019 Foreign-Controlled Domestic Corporation study are now available on SOI's Tax Stats webpage. The tables, based on data from the Form 1120 series, include balance sheet, income statement, and tax-related data for domestic corporations with 50-percent-or-more stock ownership by a single foreign "person." The data are classified by industry group, country, and age of the corporations. There were 134,000 Federal income tax returns filed by foreign-controlled domestic corporations (FCDCs) for TY 2019. These returns accounted for just 2.1 percent of all corporate returns filed for that year. However, the FCDCs were often large companies, with a combined $15.9 trillion of assets and $6.4 trillion of receipts. They reported 13.9 percent of the assets and 17.9 percent of the receipts of all corporations. Manufacturing companies accounted for $2.9 trillion of the FCDC receipts. Domestic companies with Japanese owners produced $1.0 trillion of receipts, followed closely by owners from the United Kingdom and the Netherlands ($0.9 trillion each). Established corporations (those incorporated in 2016 or before) produced $6.1 trillion of receipts.
The 2019 Corporation Income Tax Returns Line Item Estimates (Publication 5108) is now available on SOI's Tax Stats webpage. The publication presents estimates of frequencies of taxpayer entries recorded on the applicable lines of the forms and schedules filed with corporation tax returns as shown in the 2019 Statistics of Income (SOI) Corporation Income Tax Return Complete Report (Publication 16). Publication 5108 also contains corresponding population estimates of dollar amounts recorded on those lines (as applicable). Tax Year 2008 is the first year of availability for these data.
Three new extracts of tax-exempt organization financial data for Calendar Year (CY) 2021 are now available on SOI's Tax Stats webpage. These annual extracts contain selected financial data from Forms 990 (Return of Organization Exempt from Income Tax), Forms 990-EZ (Short Form Return of Organization Exempt from Income Tax), and Forms 990-PF (Return of Private Foundation or Section 4947(a)(1) Trust Treated as Private Foundation) processed for program administrative purposes during Calendar Year 2021. The data are in Microsoft Excel. Supporting documentation is also available.
The 2019 Corporation Income Tax Returns Complete Report (Publication 16) is now available on SOI's Tax Stats webpage. The report presents statistics from Forms 1120, U.S. Corporation Income Tax Returns, and provides comprehensive data on corporation income tax returns with accounting periods ending July 2019 through June 2020. Statistics are presented by industry, asset size, business receipts size, tax form type, and other selected classifiers. Separate tabulations of data reported on Form 1120S, U.S. Income Tax Return for an S Corporation, are also included.